Investment Securities (Tables)

12 Months Ended

Dec. 31, 2022

Investment Securities

Schedule of amortized cost of investment securities to estimated fair values

	December 31, 2022
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Available-for-sale
U.S. Treasury and agencies	$	3,518	$	19	$	(17)	$	3,520
Mortgage backed securities
Residential agency		705,845		2		(118,168)		587,679
Commercial		70,669		—		(7,111)		63,558
Asset backed securities		34		—		—		34
Corporate bonds		69,501		—		(6,968)		62,533
Total available-for-sale investment securities		849,567		21		(132,264)		717,324
Held-to-maturity
Obligations of state and political agencies		137,787		—		(17,736)		120,051
Mortgage backed securities
Residential agency		184,115		—		(33,254)		150,861
Total held-to-maturity investment securities		321,902		—		(50,990)		270,912
Total investment securities	$	1,171,469	$	21	$	(183,254)	$	988,236

	December 31, 2021
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
Available-for-sale
U.S. Treasury and agencies	$	5,028	$	75	$	—	$	5,103
Mortgage backed securities
Residential agency		717,781		1,213		(11,837)		707,157
Commercial		88,362		2,674		(123)		90,913
Asset backed securities		52		2		—		54
Corporate bonds		49,035		1,398		(11)		50,422
Total available-for-sale investment securities		860,258		5,362		(11,971)		853,649
Held-to-maturity
Obligations of state and political agencies		144,543		1,110		(349)		145,304
Mortgage backed securities
Residential agency		207,518		—		(3,145)		204,373
Total held-to-maturity investment securities		352,061		1,110		(3,494)		349,677
Total investment securities	$	1,212,319	$	6,472	$	(15,465)	$	1,203,326

Schedule of contractual maturity of amortized cost and estimated fair value

	Held-to-maturity				Available-for-sale
	Carrying		Fair		Amortized		Fair
(dollars in thousands)	Value		Value		Cost		Value
Due within one year or less	$	6,554	$	6,522	$	4	$	4
Due after one year through five years		40,317		37,146		21,256		19,863
Due after five years through ten years		69,992		59,138		87,961		79,697
Due after 10 years		205,039		168,106		740,346		617,760
Total investment securities	$	321,902	$	270,912	$	849,567	$	717,324

Schedule of proceeds from the sale of available for sale securities

	Year ended
	December 31,
(dollars in thousands)	2022		2021		2020
Proceeds	$	—	$	13,189	$	75,647
Realized gains		—		114		2,737
Realized losses		—		—		—

Schedule of proceeds from the call of held-to-maturity investment securities

	Year ended
	December 31,
(dollars in thousands)	2022		2021		2020
Proceeds	$	963	$	1,772	$	—
Realized gains		—		11		—
Realized losses		—		—		—

Schedule of investment securities with gross unrealized losses

	December 31, 2022
	Less than 12 Months				Over 12 Months				Total
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(dollars in thousands)	Losses		Value		Losses		Value		Losses		Value
Available-for-sale
U.S. Treasury and agencies	$	(17)	$	509	$	—	$	—	$	(17)	$	509
Mortgage backed securities
Residential agency		(10,457)		79,693		(107,711)		507,418		(118,168)		587,111
Commercial		(4,835)		50,437		(2,276)		13,120		(7,111)		63,557
Asset backed securities		—		32		—		2		—		34
Corporate bonds		(4,452)		48,048		(2,516)		14,484		(6,968)		62,532
Total available-for-sale investment securities		(19,761)		178,719		(112,503)		535,024		(132,264)		713,743
Held-to-maturity
Obligations of state and political agencies		(3,336)		18,788		(14,400)		98,762		(17,736)		117,550
Mortgage backed securities
Residential agency		—		—		(33,254)		150,861		(33,254)		150,861
Total held-to-maturity investment securities		(3,336)		18,788		(47,654)		249,623		(50,990)		268,411
Total investment securities	$	(23,097)	$	197,507	$	(160,157)	$	784,647	$	(183,254)	$	982,154

	December 31, 2021
	Less than 12 Months				Over 12 Months				Total
	Unrealized		Fair		Unrealized		Fair		Unrealized		Fair
(dollars in thousands)	Losses		Value		Losses		Value		Losses		Value
Available-for-sale
U.S. Treasury and agencies	$	—	$	—	$	—	$	—	$	—	$	—
Mortgage backed securities
Residential agency		(10,156)		554,811		(1,681)		55,082		(11,837)		609,893
Commercial		(123)		17,470		—		—		(123)		17,470
Asset backed securities		—		—		—		2		—		2
Corporate bonds		(11)		5,989		—		—		(11)		5,989
Total available-for-sale investment securities		(10,290)		578,270		(1,681)		55,084		(11,971)		633,354
Held-to-maturity
Obligations of state and political agencies		(349)		53,210		—		—		(349)		53,210
Mortgage backed securities
Residential agency		(3,145)		204,373		—		—		(3,145)		204,373
Total held-to-maturity investment securities		(3,494)		257,583		—		—		(3,494)		257,583
Total investment securities	$	(13,784)	$	835,853	$	(1,681)	$	55,084	$	(15,465)	$	890,937

Schedule of federal home loan bank

	December 31,		December 31,
(dollars in thousands)	2022		2021
Federal Reserve	$	4,595	$	2,675
FHLB		19,362		3,806