INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 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
September 30, 2022 (in thousands)	Cost		Gains		Losses		Credit Losses		Value
U.S. Treasury securities and U.S. Government agencies	$	436,287	$	—	$	(25,852)	$	—	$	410,435
Private label mortgage-backed security		961		1,323		—		—		2,284
Mortgage-backed securities - residential		199,692		41		(19,329)		—		180,404
Collateralized mortgage obligations		23,663		39		(786)		—		22,916
Corporate bonds		10,000		—		(2)		—		9,998
Trust preferred security		3,726		184		—		—		3,910
Total available-for-sale debt securities	$	674,329	$	1,587	$	(45,969)	$	—	$	629,947

			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
September 30, 2022 (in thousands)	Cost		Gains		Losses		Value		Credit Losses
Mortgage-backed securities - residential	$	28	$	—	$	—	$	28	$	—
Collateralized mortgage obligations		7,514		60		(18)		7,556		—
Corporate bonds		24,971		1		(58)		24,914		(10)
Obligations of state and political subdivisions		125		—		(2)		123		—
Total held-to-maturity debt securities	$	32,638	$	61	$	(78)	$	32,621	$	(10)

			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
September 30, 2022 (in thousands)	Cost		Value		Cost		Value
Due in one year or less	$	51,801	$	51,291	$	125	$	124
Due from one year to five years		394,486		369,142		24,971		24,913
Due from five years to ten years		—		—		—		—
Due beyond ten years		3,726		3,910		—		—
Private label mortgage-backed security		961		2,284		—		—
Mortgage-backed securities - residential		199,692		180,404		28		28
Collateralized mortgage obligations		23,663		22,916		7,514		7,556
Total debt securities	$	674,329	$	629,947	$	32,638	$	32,621

Schedule of debt securities with unrealized losses

	Less than 12 months				12 months or more				Total
			Unrealized				Unrealized				Unrealized
September 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	$	266,165	$	(10,276)	$	144,296	$	(15,576)	$	410,461	$	(25,852)
Mortgage-backed securities - residential		162,445		(16,808)		14,420		(2,521)		176,865		(19,329)
Collateralized mortgage obligations		18,645		(786)		—		—		18,645		(786)
Corporate bonds		9,998		(2)		—		—		9,998		(2)
Total available-for-sale debt securities	$	457,253	$	(27,872)	$	158,716	$	(18,097)	$	615,969	$	(45,969)

	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 September 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		50		(40)		—		—		10			56		(2)		—		—		54
Total	$	80	$	(70)	$	—	$	—	$	10		$	56	$	(2)	$	—	$	—	$	54

	ACLS Rollforward
	Nine Months Ended September 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	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Held-to-Maturity Securities:
Corporate Bonds		47		(37)		—		—		10		178		(124)		—		—		54
Total	$	47	$	(37)	$	—	$	—	$	10	$	178	$	(124)	$	—	$	—	$	54

Schedule of pledged investment securities

(in thousands)	September 30, 2022		December 31, 2021
Carrying amount	$	262,392	$	319,650
Fair value		262,392		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
September 30, 2022 (in thousands)	Cost		Gains		Losses		Value
Freddie Mac preferred stock	$	—	$	175	$	—	$	175
Total equity securities with readily determinable fair values	$	—	$	175	$	—	$	175

			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 September 30, 2022						Three Months Ended September 30, 2021
(in thousands)	Realized		Unrealized		Total		Realized		Unrealized		Total
Freddie Mac preferred stock	$	—	$	(14)	$	(14)	$	—	$	(13)	$	(13)
Community Reinvestment Act mutual fund		—		—		—		—		(9)		(9)
Total equity securities with readily determinable fair value	$	—	$	(14)	$	(14)	$	—	$	(22)	$	(22)

	Gains (Losses) Recognized on Equity Securities
	Nine Months Ended September 30, 2022						Nine Months Ended September 30, 2021
(in thousands)	Realized		Unrealized		Total		Realized		Unrealized		Total
Freddie Mac preferred stock	$	—	$	5	$	5	$	—	$	(458)	$	(458)
Community Reinvestment Act mutual fund		(209)		—		(209)		—		(47)		(47)
Total equity securities with readily determinable fair value	$	(209)	$	5	$	(204)	$	—	$	(505)	$	(505)