INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2022

INVESTMENT SECURITIES

Schedule of gross amortized cost and fair value of available-for-sale debt securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income

			Gross		Gross		Allowance
	Amortized		Unrealized		Unrealized		for		Fair
June 30, 2022 (in thousands)	Cost		Gains		Losses		Credit Losses		Value
U.S. Treasury securities and U.S. Government agencies	$	400,771	$	1	$	(17,680)	$	—	$	383,092
Private label mortgage-backed security		1,156		1,322		—		—		2,478
Mortgage-backed securities - residential		210,571		83		(12,384)		—		198,270
Collateralized mortgage obligations		24,838		48		(341)		—		24,545
Corporate bonds		10,000		—		(34)		(30)		9,936
Trust preferred security		3,712		112		—		—		3,824
Total available-for-sale debt securities	$	651,048	$	1,566	$	(30,439)	$	(30)	$	622,145

			Gross		Gross		Allowance
	Amortized		Unrealized		Unrealized		for		Fair
December 31, 2021 (in thousands)	Cost		Gains		Losses		Credit Losses		Value
U.S. Treasury securities and U.S. Government agencies	$	239,880	$	473	$	(2,894)	$	—	$	237,459
Private label mortgage-backed security		1,418		1,313		—		—		2,731
Mortgage-backed securities - residential		207,697		3,525		(473)		—		210,749
Collateralized mortgage obligations		29,947		377		(30)		—		30,294
Corporate bonds		10,000		46		—		—		10,046
Trust preferred security		3,684		163		—		—		3,847
Total available-for-sale debt securities	$	492,626	$	5,897	$	(3,397)	$	—	$	495,126

Schedule of carrying value, gross unrecognized gains and losses, and fair value of held-to-maturity debt securities

			Gross		Gross				Allowance
	Amortized		Unrecognized		Unrecognized		Fair		for
June 30, 2022 (in thousands)	Cost		Gains		Losses		Value		Credit Losses
Mortgage-backed securities - residential	$	29	$	—	$	—	$	29	$	—
Collateralized mortgage obligations		7,772		70		(20)		7,822		—
Corporate bonds		24,966		8		(92)		24,882		(50)
Obligations of state and political subdivisions		245		—		—		245		—
Total held-to-maturity debt securities	$	33,012	$	78	$	(112)	$	32,978	$	(50)

			Gross		Gross				Allowance
	Amortized		Unrecognized		Unrecognized		Fair		for
December 31, 2021 (in thousands)	Cost		Gains		Losses		Value		Credit Losses
Mortgage-backed securities - residential	$	46	$	—	$	—	$	46	$	—
Collateralized mortgage obligations		9,080		158		—		9,238		—
Corporate bonds		34,975		263		(6)		35,232		(47)
Obligations of state and political subdivisions		245		3		—		248		—
Total held-to-maturity debt securities	$	44,346	$	424	$	(6)	$	44,764	$	(47)

Schedule of amortized cost and fair value of debt securities by contractual maturity

	Available-for-Sale				Held-to-Maturity
	Debt Securities				Debt Securities
	Amortized		Fair		Amortized		Fair
June 30, 2022 (in thousands)	Cost		Value		Cost		Value
Due in one year or less	$	61,344	$	61,128	$	120	$	120
Due from one year to five years		349,427		331,900		25,091		25,007
Due from five years to ten years		—		—		—		—
Due beyond ten years		3,712		3,824		—		—
Private label mortgage-backed security		1,156		2,478		—		—
Mortgage-backed securities - residential		210,571		198,270		29		29
Collateralized mortgage obligations		24,838		24,545		7,772		7,822
Total debt securities	$	651,048	$	622,145	$	33,012	$	32,978

Schedule of debt securities with unrealized losses

	Less than 12 months				12 months or more				Total
			Unrealized				Unrealized				Unrealized
June 30, 2022 (in thousands)	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Available-for-sale debt securities:
U.S. Treasury securities and U.S. Government agencies	$	296,890	$	(12,582)	$	64,902	$	(5,098)	$	361,792	$	(17,680)
Mortgage-backed securities - residential		193,002		(12,384)		—		—		193,002		(12,384)
Collateralized mortgage obligations		16,226		(341)		—		—		16,226		(341)
Total available-for-sale debt securities	$	506,118	$	(25,307)	$	64,902	$	(5,098)	$	571,020	$	(30,405)

	Less than 12 months				12 months or more				Total
			Unrealized				Unrealized				Unrealized
December 31, 2021 (in thousands)	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Available-for-sale debt securities:
U.S. Treasury securities and U.S. Government agencies	$	177,138	$	(2,622)	$	9,728	$	(272)	$	186,866	$	(2,894)
Mortgage-backed securities - residential		84,937		(473)		—		—		84,937		(473)
Collateralized mortgage obligations		4,495		(30)		—		—		4,495		(30)
Total available-for-sale debt securities	$	266,570	$	(3,125)	$	9,728	$	(272)	$	276,298	$	(3,397)

Schedule of allowance for credit losses on investment

	ACLS Rollforward
	Three Months Ended June 30,
	2022										2021
	Beginning				Charge-				Ending			Beginning				Charge-				Ending
(in thousands)	Balance		Provision		offs		Recoveries		Balance			Balance		Provision		offs		Recoveries		Balance
Available-for-Sale Securities:
Corporate Bonds	$	—	$	30	$	—	$	—	$	30		$	—	$	—	$	—	$	—	$	—
Held-to-Maturity Securities:
Corporate Bonds		40		10		—		—		50			103		(47)		—		—		56
Total	$	40	$	40	$	—	$	—	$	80		$	103	$	(47)	$	—	$	—	$	56

	ACLS Rollforward
	Six Months Ended June 30,
	2022										2021
	Beginning				Charge-				Ending		Beginning				Charge-				Ending
(in thousands)	Balance		Provision		offs		Recoveries		Balance		Balance		Provision		offs		Recoveries		Balance
Available-for-Sale Securities:
Corporate Bonds	$	—	$	30	$	—	$	—	$	30	$	—	$	—	$	—	$	—	$	—
Held-to-Maturity Securities:
Corporate Bonds		47		3		—		—		50		178		(122)		—		—		56
Total	$	47	$	33	$	—	$	—	$	80	$	178	$	(122)	$	—	$	—	$	56

Schedule of pledged investment securities

(in thousands)	June 30, 2022		December 31, 2021
Carrying amount	$	415,244	$	319,650
Fair value		415,244		319,808

Schedule of carrying value, gross unrealized gains and losses, and fair value of equity securities with readily determinable fair values

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
June 30, 2022 (in thousands)	Cost		Gains		Losses		Value
Freddie Mac preferred stock	$	—	$	189	$	—	$	189
Total equity securities with readily determinable fair values	$	—	$	189	$	—	$	189

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2021 (in thousands)	Cost		Gains		Losses		Value
Freddie Mac preferred stock	$	—	$	170	$	—	$	170
Community Reinvestment Act mutual fund		2,500		—		(50)		2,450
Total equity securities with readily determinable fair values	$	2,500	$	170	$	(50)	$	2,620

Schedule of equity securities with readily determinable fair values, the gross realized and unrealized gains and losses recognized in the Company's consolidated statements of income

	Gains (Losses) Recognized on Equity Securities
	Three Months Ended June 30, 2022						Three Months Ended June 30, 2021
(in thousands)	Realized		Unrealized		Total		Realized		Unrealized		Total
Freddie Mac preferred stock	$	—	$	25	$	25	$	—	$	191	$	191
Community Reinvestment Act mutual fund		(97)		—		(97)		—		16		16
Total equity securities with readily determinable fair value	$	(97)	$	25	$	(72)	$	—	$	207	$	207

	Gains (Losses) Recognized on Equity Securities
	Six Months Ended June 30, 2022						Six Months Ended June 30, 2021
(in thousands)	Realized		Unrealized		Total		Realized		Unrealized		Total
Freddie Mac preferred stock	$	—	$	19	$	19	$	—	$	(444)	$	(444)
Community Reinvestment Act mutual fund		(209)		—		(209)		—		(38)		(38)
Total equity securities with readily determinable fair value	$	(209)	$	19	$	(190)	$	—	$	(482)	$	(482)