Central Pacific Financial (CPF) 10-Q 26 Apr 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 14, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-31567
Entity Registrant Name	CENTRAL PACIFIC FINANCIAL CORP
Entity Incorporation, State or Country Code	HI
Entity Tax Identification Number	99-0212597
Entity Address, Address Line One	220 South King Street
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	544-0500
Title of 12(b) Security	Common stock, No Par Value
Trading Symbol	CPF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,005,545
Entity Central Index Key	0000701347
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 108,535	$ 97,150
Interest-bearing deposits in other banks	90,247	14,894
Investment securities:
Available-for-sale debt securities, at fair value	687,188	671,794
Held-to-maturity debt securities, at amortized cost; fair value of: $599,300 at March 31, 2023 and $596,780 at December 31, 2022	658,596	664,883
Total investment securities	1,345,784	1,336,677
Loans held for sale	0	1,105
Loans	5,557,397	5,555,466
Allowance for credit losses	(63,099)	(63,738)
Loans, net of allowance for credit losses	5,494,298	5,491,728
Premises and equipment, net	93,761	91,634
Accrued interest receivable	20,473	20,345
Investment in unconsolidated entities	45,953	46,641
Mortgage servicing rights	8,943	9,074
Bank-owned life insurance	168,244	167,967
Federal Home Loan Bank stock	11,960	9,146
Right-of-use lease asset	34,237	34,985
Other assets	98,812	111,417
Total assets	7,521,247	7,432,763
Deposits:
Noninterest-bearing demand	2,028,087	2,092,823
Interest-bearing demand	1,386,913	1,453,167
Savings and money market	2,184,675	2,199,028
Time	1,147,293	991,205
Total deposits	6,746,968	6,736,223
FHLB advances and other short-term borrowings	25,000	5,000
Long-term debt (net of debt issuance costs of $627 at March 31, 2023 and $688 at December 31, 2022)	155,920	105,859
Lease liability	35,076	35,889
Other liabilities	87,357	96,921
Total liabilities	7,050,321	6,979,892
Equity
Preferred stock, no par value, authorized 1,000,000 shares; issued and outstanding: none at March 31, 2023 and December 31, 2022	0	0
Common stock, no par value, authorized 185,000,000 shares; issued and outstanding: 27,005,545 at March 31, 2023 and 27,025,070 at December 31, 2022	405,866	408,071
Additional paid-in capital	101,188	101,346
Retained earnings	96,600	87,438
Accumulated other comprehensive loss	(132,728)	(143,984)
Total shareholders' equity	470,926	452,871
Total equity	470,926	452,871
Total liabilities and equity	$ 7,521,247	$ 7,432,763

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Held to maturity, fair value	$ 599,300	$ 596,780
Debt issuance costs	$ 627	$ 688
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized shares	1,000,000	1,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares	185,000,000	185,000,000
Common stock, issued shares	27,005,545	27,025,070
Common stock, outstanding shares	27,005,545	27,025,070

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest income:
Interest and fees on loans	$ 58,269	$ 44,949
Interest and dividends on investment securities:
Taxable interest	7,336	6,969
Tax-exempt interest	790	816
Dividends	0	21
Interest on deposits in other banks	277	72
Dividends on Federal Home Loan Bank stock	136	59
Total interest income	66,808	52,886
Interest on deposits:
Demand	363	112
Savings and money market	3,386	329
Time	6,264	469
Interest on short-term borrowings	761	0
Interest on long-term debt	1,838	1,041
Total interest expense	12,612	1,951
Net interest income	54,196	50,935
Provision (credit) for credit losses	1,852	(3,195)
Net interest income after provision (credit) for credit losses	52,344	54,130
Other operating income:
Mortgage banking income	526	1,172
Service charges on deposit accounts	2,111	1,861
Other service charges and fees	4,985	4,488
Income from fiduciary activities	1,321	1,154
Income from bank-owned life insurance	1,291	539
Other	775	337
Total other operating income	11,009	9,551
Other operating expense:
Salaries and employee benefits	22,023	20,942
Net occupancy	4,474	3,774
Equipment	946	1,082
Communication	778	806
Legal and professional services	2,886	2,626
Computer software	4,606	3,082
Advertising	933	1,150
Other	5,461	4,743
Total other operating expense	42,107	38,205
Income before income taxes	21,246	25,476
Income tax expense	5,059	6,038
Net income	$ 16,187	$ 19,438
Per common share data:
Basic earnings per common share (in dollars per share)	$ 0.60	$ 0.70
Diluted earnings per common share (in dollars per share)	0.60	0.70
Cash dividends declared (in dollars per share)	$ 0.26	$ 0.26
Shares Used in Computation [Abstract]
Basic shares (in shares)	26,999,138	27,591,390
Diluted shares (in shares)	27,122,012	27,874,924

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 16,187	$ 19,438
Other comprehensive income (loss), net of tax:
Net change in fair value of available-for-sale investment securities	11,206	(79,450)
Amortization of unrealized losses on investment securities transferred to held-to-maturity	1,225	0
Net change in fair value of derivatives	(1,163)	(37)
Defined benefit retirement plan and SERPs	(12)	100
Total other comprehensive income (loss), net of tax	11,256	(79,387)
Comprehensive income (loss)	$ 27,443	$ (59,949)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Shares Outstanding	Common Stock	Additional Paid-In Capital	Retained Earnings	Accum. Other Comp. Loss	Non- Controlling Interest
Beginning balance (in shares) at Dec. 31, 2021		27,714,071
Beginning balance at Dec. 31, 2021	$ 558,267		$ 426,091	$ 98,073	$ 42,015	$ (7,960)	$ 48
Increase (Decrease) in Shareholders' Equity
Net income	19,438				19,438
Other comprehensive income	(79,387)					(79,387)
Cash dividends declared	(7,201)				(7,201)
Common stock sold by directors' deferred compensation plan (40,670 shares, net)	1,114		1,114
Shares of common stock repurchased and other related costs (in shares)		(234,981)
Common stock repurchased and retired and other related costs	(6,731)		(6,731)
Share-based compensation (in shares)		105,839
Share-based compensation	876		679	197
Non-controlling interest	2						2
Ending balance (in shares) at Mar. 31, 2022		27,584,929
Ending balance at Mar. 31, 2022	$ 486,378		421,153	98,270	54,252	(87,347)	50
Beginning balance (in shares) at Dec. 31, 2022	27,025,070	27,025,070
Beginning balance at Dec. 31, 2022	$ 452,871		408,071	101,346	87,438	(143,984)	0
Increase (Decrease) in Shareholders' Equity
Net income	16,187				16,187
Other comprehensive income	11,256					11,256
Cash dividends declared	(7,025)				(7,025)
Shares of common stock repurchased and other related costs (in shares)		(101,760)
Common stock repurchased and retired and other related costs	(2,205)		(2,205)
Share-based compensation (in shares)		82,235
Share-based compensation	$ (158)			(158)
Ending balance (in shares) at Mar. 31, 2023	27,005,545	27,005,545
Ending balance at Mar. 31, 2023	$ 470,926		$ 405,866	$ 101,188	$ 96,600	$ (132,728)	$ 0

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical)	3 Months Ended
	Mar. 31, 2022 $ / shares shares
Statement of Stockholders' Equity [Abstract]
Cash dividends declared (in dollars per share) | $ / shares	$ 0.26
Common stock purchased by directors' deferred compensation plan, net shares (in shares) | shares	(40,670)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		15 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 16,187	$ 19,438
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for credit losses	1,852	(3,195)
Depreciation and amortization of premises and equipment	1,628	1,640
Loss on disposal of premises and equipment	2	1
Cash flows from operating leases	(1,390)	(1,506)
Amortization of mortgage servicing rights	189	534
Net amortization and accretion of premium/discounts on investment securities	803	1,401
Share-based compensation (benefit) expense	(158)	197
Net gain on sales of residential mortgage loans	(128)	(769)
Proceeds from sales of loans held for sale	5,999	31,372
Originations of loans held for sale	(4,766)	(31,749)
Equity in earnings of unconsolidated entities	(28)	(90)
Distributions from unconsolidated entities	31	66
Net (increase) decrease in cash surrender value of bank-owned life insurance	(1,304)	1,741
Deferred income tax benefit (expense)	8,388	(26,297)
Net tax (benefit) expense from share-based compensation	(7)	73
Net change in other assets and liabilities	(9,030)	16,553
Net cash provided by operating activities	18,268	9,410
Cash flows from investing activities:
Proceeds from maturities of and calls on available-for-sale investment securities	14,170	59,471
Purchases of investment securities available-for-sale	(14,913)	(66,610)
Proceeds from maturities of and calls on held-to-maturity investment securities	7,759	0
Loan payments, net	15,085	6,377
Purchases of loan portfolios	(19,507)	(79,713)
Proceeds from bank-owned life insurance death benefits	1,027	0
Net purchases of premises, equipment and land	(3,822)	(858)
Investments in unconsolidated entities	(30)	(495)
Net purchases of FHLB stock	(2,814)	(979)
Net cash used in investing activities	(3,045)	(82,807)
Cash flows from financing activities:
Net increase (decrease) in deposits	10,745	(40,127)
Net increase in FHLB advances and other short-term borrowings	20,000	0
Proceeds from long-term debt	50,000	0
Cash dividends paid on common stock	(7,025)	(7,201)
Repurchases of common stock and other related costs	(2,205)	(6,731)
Net proceeds from issuance of common stock and stock option exercises	0	679
Net cash provided (used in) by financing activities	71,515	(53,380)
Net increase (decrease) in cash and cash equivalents	86,738	(126,777)
Cash and cash equivalents at beginning of period	112,044	328,907	$ 328,907
Cash and cash equivalents at end of period	198,782	202,130	$ 198,782
Cash paid during the period for:
Interest	9,664	1,266
Income taxes	0	3,283
Supplemental disclosure of non-cash information:
Net change in common stock held by directors’ deferred compensation plan	0	(1,114)
Net transfer of investment securities from available-for-sale to held-to-maturity at fair value	0	329,503
Amortization of unrealized losses on investment securities transferred to held-to-maturity at fair value	1,668	0
Other intangible assets and services provided in exchange for Swell common stock	$ 0	$ 1,500

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited consolidated financial statements of Central Pacific Financial Corp. and Subsidiaries (herein referred to as the "Company," "we," "us," or "our") have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These interim condensed consolidated financial statements and notes should be read in conjunction with the Company's consolidated financial statements and notes thereto filed on Form 10-K for the fiscal year ended December 31, 2022. In the opinion of management, all adjustments necessary for a fair presentation have been made and include all normal recurring adjustments. Interim results of operations are not necessarily indicative of results to be expected for the year. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. In January 2020, we acquired a 50% ownership interest in a mortgage loan origination and brokerage company, Oahu HomeLoans, LLC. The bank concluded that the entity met the definition of a variable interest entity ("VIE") and that the Bank was the primary beneficiary of the VIE. As a result, the investment met the consolidation requirements under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 810, "Consolidation." Accordingly, the investment has been consolidated into our financial statements. In March 2022, Oahu HomeLoans, LLC was terminated. The Company has 50% ownership interests in three other mortgage loan origination and brokerage companies, which are accounted for using the equity method and are included in investment in unconsolidated entities: Gentry HomeLoans, LLC, Haseko HomeLoans, LLC and Island Pacific HomeLoans, LLC. The Company has low income housing tax credit partnership investments that are accounted for under the proportional amortization method and are included in investment in unconsolidated entities. During the first quarter of 2022, the Company invested $2.0 million in Swell Financial, Inc. ("Swell"), a new fintech company, which included $1.5 million in other intangible assets and services provided in exchange for Swell non-voting common stock and $0.5 million in cash in exchange for Swell preferred stock. During the fourth quarter of 2022, Swell launched a consumer banking application that combines checking, credit and more into one integrated account, with Central Pacific Bank serving as the bank sponsor. Swell began with an alpha pilot, where members of its waitlist were invited to sign up for Swell Cash and Credit. In addition, the Company is also collaborating with Swell and Elevate Credit, Inc. (NYSE: ELVT), a provider of digital solutions. In the first quarter of 2023, Elevate was acquired by Park Cities Asset Management, LLC, who is also the largest investor in Swell.The Company does not have the ability to exercise significant influence over Swell and the investment does not have a readily determinable fair value. As a result, the Company determined that the cost method of accounting for the investment was appropriate. The investment is included in investments in unconsolidated entities. In 2021, the Company committed $2.0 million to the JAM FINTOP Banktech Fund, L.P., an investment fund designed to help develop and accelerate technology adoption at community banks across the United States. The Company does not have the ability to exercise significant influence over the JAM FINTOP Banktech Fund, L.P. and the investment does not have a readily determinable fair value. As a result, the Company determined that that the cost method for the investment was appropriate. The investment is included in investment in unconsolidated entities. The Company had $1.1 million and $1.3 million in unfunded commitments related to the investment as of March 31, 2023 and December 31, 2022, respectively. The Company also has other non-controlling equity investments in affiliates that are accounted for under the cost method and are included in investment in unconsolidated entities. Investments in unconsolidated entities accounted for under the equity, proportional amortization and cost methods were $0.1 million, $40.2 million and $5.6 million, respectively, at March 31, 2023 and $0.1 million, $40.9 million and $5.6 million, respectively, at December 31, 2022. The Company's policy for determining impairment of these investments includes an evaluation of whether a loss in value of an investment is other-than-temporary. Evidence of a loss in value includes absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain an earnings capacity, which would justify the carrying amount of the investment. Impairment tests are performed whenever indicators of impairment are present. If the value of an investment declines and it is considered other-than-temporary, the investment is written down to its respective fair value in the period in which this determination is made. The Company sponsors the Central Pacific Bank Foundation, which is not consolidated in the Company's financial statements. Investment Securities Investments in debt securities are designated as trading, available-for-sale ("AFS"), or held-to-maturity ("HTM"). Investments in debt securities are designated as HTM only if we have the positive intent and ability to hold these securities to maturity. HTM securities are reported at amortized cost in the consolidated balance sheets. Trading securities are reported at fair value, with changes in fair value included in net income. Debt securities not classified as HTM or trading are classified as AFS and are reported at fair value, with net unrealized gains and losses, net of applicable taxes, excluded from net income and included in accumulated other comprehensive income (loss) ("AOCI"). Transfers of investment securities from AFS to HTM are accounted for at fair value as of the date of the transfer. The difference between the fair value and the par value at the date of transfer is considered a premium or discount and is accounted for accordingly. Any unrealized gain or loss at the date of the transfer is reported in AOC and amortized over the remaining life of the security as an adjustment of yield in a manner consistent with the amortization of any premium or discount, which will offset or mitigate the effect on interest income of the amortization of the premium or discount for that HTM security. Equity securities with readily determinable fair values are carried at fair value, with changes in fair value included in net income. Equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or a similar investment. The Company classifies its investment securities portfolio into the following major security types: mortgage-backed securities ("MBS"), other debt securities and equity securities. The Company’s MBS portfolio is comprised primarily of residential MBS issued by United States of America ("U.S.") government entities and agencies. These securities are either explicitly or implicitly guaranteed by an agency of the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. The remainder of the MBS portfolio are commercial MBS issued by U.S government entities and agencies (with no minimum credit rating), non-agency residential MBS (with a minimum credit rating of AAA) and non-agency commercial MBS (with a minimum credit rating of BBB and meets the minimum internal credit guidelines). The Company’s other debt securities portfolio is comprised of obligations issued by U.S. government entities and agencies, obligations issued by states and political subdivisions (with a minimum credit rating of BBB), and corporate bonds (with a minimum credit rating of BBB-). Interest income on investment securities includes amortization of premiums and accretion of discounts. We amortize premiums and accrete discounts using the effective interest method over the life of the respective security instrument. Gains and losses on the sale of investment securities are recorded on the trade date and determined using the specific identification method. A debt security is placed on nonaccrual status at the time any principal or interest payments become 90 days delinquent. Interest accrued but not received for a security placed on non-accrual status is reversed against current period interest income. There were no investment securities on nonaccrual status as of March 31, 2023 and the Company did not reverse any accrued interest against interest income during the three months ended March 31, 2023. Allowance for Credit Losses (“ACL”) for AFS Debt Securities AFS debt securities in an unrealized loss position are evaluated for impairment at least quarterly. For AFS debt securities in an unrealized loss position, the Company first assesses whether or not it intends to sell, or if it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the investment security’s amortized cost basis is written down to fair value through net income. For AFS debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In conducting this assessment for debt securities in an unrealized loss position, management evaluates the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the investment security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is recognized in AOCI. Changes in the ACL are recorded as a provision for (or reversal of) credit losses. Losses are charged against the ACL when management believes the uncollectibility of an AFS debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. As of March 31, 2023, the decline in market values of our AFS debt securities was primarily attributable to changes in interest rates and volatility in the financial markets. We have no intent to sell securities in an unrealized loss position and it is unlikely we will be required to sell such securities before recovery of its amortized cost basis. Therefore, we did not record any ACL as a result of credit loss. The Company has made a policy election to exclude accrued interest receivable from the amortized cost basis of debt securities and report accrued interest receivable ACL for HTM Debt Securities Management measures expected credit losses on HTM debt securities on a collective basis by major security type. For pools of such securities with common risk characteristics, the historical lifetime probability of default and severity of loss in the event of default is derived or obtained from external sources. Expected credit losses for these securities are estimated using a loss rate methodology, which considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Expected credit loss on each security in the HTM portfolio that do not share common risk characteristics with any of the pools of debt securities is individually measured based on net realizable value, or the difference between the discounted value of the expected future cash flows, based on the original effective interest rate, and the recorded amortized cost basis of the security. Securities in the HTM portfolio are issued by or contain collateral issued by U.S. government sponsored enterprises ("GSEs") and carry implicit guarantees from the U.S. government. Due to the implicit guarantee and the long history of no credit losses, no allowance for credit losses was recorded for these securities. Accrued interest on HTM debt securities is reported in accrued interest receivable Accrued interest receivable on HTM debt securities totaled $1.3 million and $1.3 million as of March 31, 2023 and December 31, 2022, respectively. Federal Home Loan Bank Stock As a member of the Federal Home Loan Bank of Des Moines (the "FHLB"), the bank is required to obtain and hold a specific number of shares of FHLB capital stock equal to the sum of a membership investment requirement and an activity-based investment requirement. The securities are reported at cost and are presented separately in the consolidated balance sheets. Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost, net of the ACL. Amortized cost is the unpaid principal amount outstanding, net of unamortized purchase premiums and discounts, unamortized deferred loan origination fees and costs and cumulative principal charge-offs. Purchase premiums and discounts are generally amortized into interest income over the contractual terms of the underlying loans using the effective interest method. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income over the life of the related loan as an adjustment to the yield and typically amortized using the interest method over the contractual term of the loan, adjusted for actual prepayments. Deferred loan fees and costs on loans paid in full are recognized as a component of interest income on loans. Interest income on loans is accrued at the contractual rate of interest on the unpaid principal balance. Accrued interest receivable on loans totaled $16.3 million and $16.0 million at March 31, 2023 and December 31, 2022, respectively, and is reported together with accrued interest on HTM and AFS debt securities “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” the Company made the accounting policy election to not measure an estimate of credit losses on accrued interest receivable as the Company writes off any uncollectible accrued interest receivable in a timely manner. Nonaccrual Loans The Company determines delinquency status by considering the number of days full payments required by the contractual terms of the loan are past due. Commercial, scored small business, automobile and other consumer loans are generally placed on nonaccrual status when principal and/or interest payments are 90 days past due, or earlier should management determine that the borrowers will be unable to meet contractual principal and/or interest obligations, unless the loans are well-secured and in the process of collection. Residential mortgage and home equity loans, are generally placed on nonaccrual status when principal and/or interest payments are 120 days past due, or earlier should management determine that the borrowers will be unable to meet contractual principal and/or interest obligations, unless the loans are well-secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income should management determine that the collectability of such accrued interest is doubtful. All subsequent receipts are applied to principal outstanding and no interest income is recognized unless the financial condition and payment record of the borrowers warrant such recognition and the loan is restored to accrual status. A nonaccrual loan may be restored to an accrual basis when principal and interest payments are current for a predetermined period, normally at least six months, and full payment of principal and interest is reasonably assured. Troubled Debt Restructuring (“TDR”) Prior to the Adoption of ASU 2022-02 The Company adopted ASU No. 2022-02, "Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures", using the prospective transition method. Thus, the Company will continue to account for existing TDRs under the TDR accounting guidance and all new loan modifications will be accounted for under the new loan modification accounting model as described in Note 2 - Recent Accounting Pronouncements. Prior to the adoption of ASU 2022-02, on January 1, 2023, the Company accounted for and reported a loan as a TDR when two conditions were met: 1) the borrower was experiencing financial difficulty and 2) the Company granted a concession to the borrower experiencing financial difficulty that it would not otherwise consider for a borrower or transaction with similar credit risk characteristics. A restructuring that resulted in only an insignificant delay in payment was not considered a concession. A delay may have been considered insignificant if 1) the payments subject to the delay were insignificant relative to the unpaid principal or collateral value and the contractual amount due or 2) the delay in timing of the restructured payment period was insignificant relative to the frequency of payments, the debt’s original contractual maturity or original expected duration. TDRs that were performing and on accrual status as of the date of the modification remained on accrual status. TDRs that were nonperforming as of the date of modification generally remained as nonaccrual until the prospect of future payments in accordance with the modified loan agreement was reasonably assured and generally demonstrated when the borrower maintained compliance with the restructured terms for a predetermined period of at least six months. TDRs with temporary below-market concessions remained designated as a TDR regardless of the accrual or performance status until the loan was paid off. Expected credit losses are estimated on a collective (pool) basis when they share similar risk characteristics. A TDR financial asset was evaluated with other financial assets on a collective basis if it shared similar characteristics with other financial assets and individually evaluated if it did not share similar risk characteristics with other financial assets. The Company’s ACL reflects all effects of a TDR when an individual asset is specifically identified as a reasonably expected TDR. The Company determined a TDR was reasonably expected no later than the point at which the lender concluded that a modification was the best course of action and it was at least reasonably possible for the troubled borrower to accept some form of concession from the lender to avoid a default. Reasonably expected TDRs and executed TDRs were evaluated to determine the required ACL using the same method as all other loans held for investment, except when the value of a concession could not be measured using a method other than the discounted cash flow method. When the value of a concession was measured using the discounted cash flow method, the ACL was determined by discounting the expected future cash flows at the original interest rate of the loan. Based on the underlying risk characteristics, TDRs performing in accordance with their modified contractual terms may be collectively evaluated. ACL for Loans Under the current expected credit loss methodology, the ACL for loans is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Our policy is to charge off a loan during the period in which the loan is deemed to be uncollectible and all interest previously accrued, but not collected is reversed against current period interest income. We consider a loan to be uncollectible when it is probable that a loss will be incurred and the Company can make a reasonable estimate of the loss. In these instances, the likelihood and/or time frame of recovery for the amount due is uncertain, weak, or protracted. Subsequent receipts, if any, are credited first to the remaining principal, then to the ACL for loans as recoveries, and finally to unaccrued interest. The ACL for loans represents management's estimate of all expected credit losses over the expected life of our existing loan portfolio. Management estimates the ACL balance using relevant available information about the collectability of cash flows, from internal and external sources, including historical information relating to past events, current conditions, and reasonable and supportable forecasts of future economic conditions. When the Company is unable to forecast future economic events, management may revert to historical information. The Company's methodologies incorporate a reasonable and supportable forecast period of one year and revert to historical loss information on a straight-line basis over one year when its forecast is no longer deemed reasonable and supportable. The Company maintains an ACL at an appropriate level as of a given balance sheet date to absorb management’s best estimate of expected life of loan credit losses. Historical credit loss experience provides the basis for the Company’s expected credit loss estimate. Adjustments to historical loss information may be made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, or when historical asset terms do not reflect the contractual terms of the financial assets being evaluated. The ACL methodology may also consider other adjustments to address changes in conditions, trends, and circumstances such as local industry changes that could have a significant impact on the risk profile of the loan portfolio and provide for adjustments that may not be reflected and/or captured in the historical loss data. These factors include: lending policies, imprecision in forecasting future economic conditions, loan profile, lending staff, problem loan trends, loan review, collateral, credit concentration, or other internal and external factors. The Company uses the Moody’s Analytics Baseline forecast service for its economic forecast assumption. The Moody’s Analytics Baseline forecast includes both National and Hawaii specific economic indicators. The Moody’s Analytics forecast service is widely used in the industry as it is reasonable and supportable. It is updated at least monthly with a variety of upside and downside economic scenarios from the Baseline. Generally, the Company will use the most recent Baseline forecast from Moody’s as of the balance sheet date. During times of economic and market volatility or instability, the Company may include a qualitative factor for forecast imprecision that accounts for other potential economic scenarios available by Moody’s Analytics or may apply overrides to its statistical models to enhance the reasonableness of its loss estimates. The ACL is measured on a collective or pool basis when similar risk characteristics exist. The Company segments its portfolio generally by Federal Financial Institutions Examination Council ("FFIEC") Call Report codes. Loan pools are further segmented by risk utilizing the most appropriate risk ratings or bands of payment delinquency (including TDR or non-accrual status) for each segment. Additional sub-segmentation may be utilized to identify groups of loans with unique risk characteristics relative to the rest of the portfolio. The Company relies on a third-party platform that offers multiple methodologies to measure historical life-of-loan losses. The Company has also developed statistical models internally to incorporate future economic conditions and forecast expected credit losses based on various macro-economic indicators such as unemployment and income levels. The Company has identified the following portfolio segments to measure the allowance for credit losses. For all segments the economic forecast length is one year and reversion method is one year. Loan Segment Historical Lifetime Loss Method Historical Economic Reversion Method Construction Probability of Default/Loss Given Default ("PD/LGD") 2008-Present One Year One Year (straight-line basis) Commercial real estate PD/LGD 2008-Present Multi-family mortgage PD/LGD 2008-Present Commercial, financial and agricultural PD/LGD 2008-Present Home equity lines of credit Loss-Rate Migration 2008-Present Residential mortgage Loss-Rate Migration 2008-Present Consumer - other revolving Loss-Rate Migration 2008-Present Consumer - non-revolving Loss-Rate Migration 2008-Present Purchased Mainland portfolios (Dealer, Other consumer) Weighted-Average Remaining Maturity ("WARM") 2008-Present Below is a description and the risk characteristics of each segment: Construction loans Construction loans include both residential and commercial development projects. Each construction project is evaluated for economic viability and construction loans pose higher credit risks than typical secured loans. Financial strength of the borrower, completion risk (the risk that the project will not be completed on time and within budget) and geographic location are the predominant risk characteristics of this segment. Commercial real estate loans Commercial real estate loans are secured by commercial properties. The predominant risk characteristic of this segment is operating risk, which is the risk that the borrower will be unable to generate sufficient cash flows from the operation of the property. Interest rate conditions and the commercial real estate market through economic cycles also impact risk levels. Multi-family mortgage loans Multi-family mortgage loans can comprise multi-building properties with extensive amenities to a single building with no amenities. The primary risk characteristic of this segment is operating risk or the ability to generate sufficient rental cash flows from the operation of the property. Commercial, financial and agricultural loans Commercial, financial and agricultural loans consist primarily of term loans and lines of credit to small and middle-market businesses and professionals. The predominant risk characteristics of this segment are the cash flows of the business we lend to, global cash flows including guarantor liquidity, as well as economic and market conditions. Although our underwriting policy and practice generally requires secondary sources of support or collateral to mitigate risk, the borrower’s business is typically regarded as the principal source of repayment. Paycheck Protection Program (“PPP”) loans are also in this category and are considered lower risk as they are guaranteed by the Small Business Administration (“SBA”) and may be forgivable in whole or in part in accordance with the requirements of the PPP. Residential mortgage loans Residential mortgage loans include fixed-rate and adjustable-rate loans secured by single family owner-occupied primary residences in Hawaii. Economic conditions such as unemployment levels, future changes in interest rates, Hawaii home prices and other market factors impact the level of credit risk inherent in the portfolio. Home equity lines of credit Home equity lines of credit include fixed or floating interest rate loans and are primarily secured by single family owner-occupied primary residences in Hawaii. They are underwritten based on a minimum FICO score, maximum debt-to-income ratio, and maximum combined loan-to-value ratio. Home equity lines of credit are monitored based on credit score, delinquency, end of draw period and maturity. Consumer loans - other revolving This segment consists of consumer unsecured lines of credit. Its predominant risk characteristics relate to current and projected economic conditions as well as employment and income levels attributed to the borrower. Consumer loans - non-revolving This segment consists of consumer non-revolving (term) loans, including auto dealer loans. Its predominant risk characteristics relate to current and projected economic conditions as well as employment and income levels attributed to the borrower. Purchased consumer portfolios Credit risk for purchased consumer loans is managed on a pooled basis. The predominant risk characteristics of purchased consumer loans include current and projected economic conditions, employment and income levels, and the quality of purchased consumer loans. Below is a description of the methodologies mentioned above: Probability of Default/Loss Given Default ("PD/LGD") The PD/LGD calculation is based on a cohort methodology whereby loans in the same cohort are tracked over time to identify defaults and corresponding losses. PD/LGD analysis requires a portfolio segmented into pools, and we elected to then further sub-segment by risk characteristics suc h as Risk Rating, loans modified for borrowers experiencing financial difficulty, TDRs prior to the adoption of ASU 2022-02 and nonaccrual status to measure losses accurately. PD measures the count or dollar amount of loans that defaulted in a given cohort. LGD measures the losses related to the loans that defaulted. Total loss rate is calculated using the formula 'PD times LGD'. Loss-Rate Migration Loss-rate migration analysis is a cohort-based approach that measures cumulative net charge-offs over a defined time-horizon to calculate a loss rate that will be applied to the loan pool. Loss-rate migration analysis requires the portfolio to be segmented into pools then further sub-segmented by risk characteristics such as days past due, delinquency counters, loans modified for borrowers experiencing financial difficulty, TDRs prior to the adoption of ASU 2022-02 and nonaccrual status to measure loss rates accurately. The key inputs to run a loss-rate migration analysis are the length and frequency of the migration period, the dates for the migration periods to start and the number of migration periods used for the analysis. For each migration period, the analysis will determine the outstanding balance in each segment and/or sub-segment at the start of each period. These loans will then be followed for the length of the migration period to identify the amount of associated charge-offs and recoveries. A loss rate for each migration period is calculated using the formula 'net charge-offs over the period divided by beginning loan balance'. Weighted-Average Remaining Maturity ("WARM") Under the WARM methodology, lifetime losses are calculated by determining the remaining life of the loan pool and then applying a loss rate which includes a forecast component over this remaining life of the loan. The methodology considers historical loss experience and a loss forecast expectation to estimate credit losses for the remaining balance of the loan pool. The calculated loss rate is applied to the contractual term (adjusted for prepayments) to determine the loan pool’s current expected credit losses. Other If a loan ceases to share similar risk characteristics with other loans in its segment, it will be moved to a different pool sharing similar risk characteristics. Loans that do not share risk characteristics are evaluated on an individual basis based on the fair value of the collateral or other approaches such as the discounted cash flow (“DCF”) method. Individually evaluated loans are not included in the collective evaluation. Determining the Term Expected credit losses are estimated over the contractual term of the loans and are adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: 1) management has a reasonable expectation at the reporting date that a modification will be executed with an individual borrower or 2) the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. If s

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	2. RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Adopted in 2023 In March 2022, the FASB issued ASU No. 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method", which clarifies the guidance on fair value hedge accounting of interest rate risk portfolios of financial assets. ASU 2022-01 updates guidance in Topic 815, to expand the scope of the current last-of-layer method to allow multiple hedged layers to be designated for a single closed portfolio of financial assets or one or more beneficial interests secured by a portfolio of financial instruments on a prospective basis. Additionally, ASU 2022-01 clarifies that basis adjustments related to existing portfolio layer hedge relationships should not be considered when measuring credit losses on the financial assets included in the closed portfolio. Further, ASU 2022-01 clarifies that any reversal of fair value hedge basis adjustments associated with an actual breach should be recognized in interest income immediately. ASU 2022-01 was effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company adopted ASU 2022-01 effective January 1, 2023 and it did not have an impact on our consolidated financial statements as we currently do not use the last-of-layer hedge accounting method. In March 2022, the FASB issued ASU No. 2022-02, "Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" . ASU 2022-02 updates guidance in Topic 326 to eliminate the TDR accounting guidance by creditors in Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Instead of applying the recognition and measurement guidance for TDRs, an entity would apply the loan refinancing and restructuring guidance to determine whether a modification or other form of restructuring results in a new loan or a continuation of an existing loan. Additionally, the amendments in ASU 2022-02 require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases in the existing vintage disclosures within the scope of Subtopic 326-20, Financial Instruments—Credit Losses—Measured at Amortized Cost . ASU 2022-02 was effective for fiscal years beginning after December 15, 2022, with early adoption permitted. ASU 2022-02 requires prospective transition for disclosures related to loan restructurings for borrowers experiencing financial difficulty and the presentation of current-period gross write-offs by year of origination while removing the presentation of current-period recoveries and net write-off from the vintage disclosure for charge-offs. The guidance related to the recognition and measurement of existing TDRs and new loan modifications or restructurings may be adopted on a prospective or modified retrospective transition method. The Company adopted ASU 2022-02 effective January 1, 2023 using the prospective transition method. As of our adoption date, loan modifications or restructurings for borrowers experiencing financial difficulty are evaluated to determine whether they result in a new loan or a continuation of an existing loan. Loan restructurings for borrowers experiencing financial difficulty are generally accounted for as a continuation of the existing loan as the terms of the restructured loans are typically not at market rates. At adoption of this guidance on January 1, 2023, there was no material impact on our financial statements. When a loan is restructured under ASU 2022-02, we continue to measure impairment on the loan using the discounted cash flow method that utilizes a prepayment-adjusted discount rate based on the loan’s restructured terms. Under the TDR accounting model, we used the discount rate that was in effect prior to the restructuring to measure impairment. Using the interest rate that was in effect prior to the restructuring resulted in the recognition, in the allowance for credit losses, of the economic concession that we granted to borrowers as part of the loan restructuring. Using a post-restructuring interest rate does not result in the recognition of an economic concession in the allowance for credit losses. As we have elected a prospective transition, the economic concession on a loan that was previously restructured and accounted for as a TDR will continue to be measured in our allowance for credit losses using the discount rate that was in effect prior to the restructuring and the economic concession may increase or decrease as we update our cash flow assumptions related to the expected life of the loan. Further, the component of the allowance for credit losses representing economic concessions will decrease as the borrower makes payments in accordance with the restructured terms of the mortgage loan and as the loan is sold, liquidated, or subsequently restructured. We adopted the disclosure guidance related to the presentation of gross write-offs by year of origination in our vintage disclosures on January 1, 2023. Impact of Other Recently Issued Accounting Pronouncements on Future Filings In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848)." This ASU provides optional expedients and exceptions for contracts, hedging relationships, and other transactions that reference LIBOR or other reference rates expected to be discontinued because of reference rate reform. Entities can (1) elect not to apply certain modification accounting requirements to contracts affected by reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Entities can also (2) elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. Finally, entities can (3) make a one-time election to sell and/or reclassify held-to-maturity (“HTM”) debt securities that reference an interest rate affected by reference rate reform. In January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform (Topic 848)," which clarifies that all derivative instruments affected by the changes to interest rates used for discounting, margining or contract price alignment, regardless of whether they reference LIBOR or another rate expected to be discontinued as a result of reference rate reform, an entity may apply certain practical expedients in Topic 848. ASU 2020-04 and 2021-01 are elective and can be adopted between March 12, 2020 and December 31, 2022. In December 2022, the FASB issued ASU 2022-06, "Deferral of the Sunset Date of Topic 848", which extends the temporary relief provision period and allows companies to defer the adoption to December 31, 2024. The Company will elect optional expedients above for applicable contract modifications and hedge accounting for hedging relationships that meet the stated criteria. The Company does not expect the adoption of this pronouncement to have a material impact on the consolidated financial statements. In June 2022, the FASB issued ASU 2022-03, "Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions" . ASU 2022-03, (1) clarifies the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security, (2) amends a related illustrative example, and (3) introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permitted. The Company is in the process of evaluating the impact of this pronouncement on the consolidated financial statements.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	3. INVESTMENT SECURITIES The amortized cost, fair value and related ACL, and corresponding gross unrecognized or unrealized gains and losses on HTM and AFS debt securities at March 31, 2023 and December 31, 2022 are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value ACL (dollars in thousands) March 31, 2023 Held-to-maturity: Debt securities: States and political subdivisions $ 41,867 $ — $ (4,746) $ 37,121 $ — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 616,729 145 (54,695) 562,179 — Total held-to-maturity securities $ 658,596 $ 145 $ (59,441) $ 599,300 $ — Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value ACL (dollars in thousands) March 31, 2023 Available-for-sale: Debt securities: States and political subdivisions $ 170,628 $ 26 $ (31,133) $ 139,521 $ — Corporate securities 36,087 — (4,990) 31,097 — U.S. Treasury obligations and direct obligations of U.S. Government agencies 26,533 5 (2,195) 24,343 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 488,550 — (67,066) 421,484 — Residential - Non-government agencies 9,614 — (977) 8,637 — Commercial - U.S. Government-sponsored entities 53,597 — (7,797) 45,800 — Commercial - Non-government agencies 16,497 — (191) 16,306 — Total available-for-sale securities $ 801,506 $ 31 $ (114,349) $ 687,188 $ — Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value ACL (dollars in thousands) December 31, 2022 Held-to-maturity: Debt securities: States and political subdivisions $ 41,840 $ — $ (4,727) $ 37,113 $ — Corporate securities — — — — — U.S. Treasury obligations and direct obligations of U.S. Government agencies — — — — — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 623,043 — (63,376) 559,667 — Residential - Non-government agencies — — — — — Commercial - U.S. Government-sponsored entities — — — — — Commercial - Non-government agencies — — — — — Total held-to-maturity securities $ 664,883 $ — $ (68,103) $ 596,780 $ — Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value ACL (dollars in thousands) December 31, 2022 Available-for-sale: Debt securities: States and political subdivisions $ 172,427 $ 6 $ (36,681) $ 135,752 $ — Corporate securities 36,206 — (5,995) 30,211 — U.S. Treasury obligations and direct obligations of U.S. Government agencies 28,032 — (2,317) 25,715 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 498,989 — (75,186) 423,803 — Residential - Non-government agencies 9,829 — (1,167) 8,662 — Commercial - U.S. Government-sponsored entities 54,346 — (8,202) 46,144 — Commercial - Non-government agencies 1,541 — (34) 1,507 — Total available-for-sale securities $ 801,370 $ 6 $ (129,582) $ 671,794 $ — In March 2022 , the Company transferred 41 investment securities that were classified as AFS to HTM. The investment securities had an amortized cost basis of $361.8 million and a fair market value of $329.5 million. On the date of transfer, these securities had a total net unrealized loss of $32.3 million. There was no impact to net income as a result of the reclassification. In May 2022 , the Company transferred 40 investment securities that were classified as AFS to HTM. The investment securities had an amortized cost basis of $400.9 million and a fair market value of $343.7 million. On the date of transfer, these securities had a total net unrealized loss of $57.2 million. There was no impact to net income as a result of the reclassification. During the three months ended March 31, 2023, the Company recorded a total of $1.7 million in amortization of unrecognized losses on the aforementioned investment securities transferred from AFS to HTM. As of March 31, 2023, the Company has recorded a total of $7.9 million in amortization of unrecognized losses on the aforementioned investment securities transferred from AFS to HTM. These transfers were executed to mitigate the potential future impact to capital through accumulated other comprehensive loss in consideration of a rising interest rate environment and the impact of rising rates on the market value of the investment securities. The Company believes that it maintains sufficient liquidity for future business needs and it has the positive intent and ability to hold these securities to maturity. The amortized cost, estimated fair value and weighted average yield of our HTM and AFS debt securities at March 31, 2023, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. (dollars in thousands) Amortized Cost Fair Value Weighted Average Yield (1) Held-to-maturity: Debt securities: Due in one year or less $ — $ — — % Due after one year through five years — — — Due after five years through ten years — — — Due after ten years 41,867 37,121 2.26 Mortgage-backed securities: Residential - U.S. Government-sponsored entities 616,729 562,179 1.94 Total held-to-maturity securities $ 658,596 $ 599,300 1.96 % Available-for-sale: Debt securities: Due in one year or less $ 5,185 $ 5,171 3.01 % Due after one year through five years 16,601 16,323 3.90 Due after five years through ten years 76,927 69,210 2.68 Due after ten years 134,535 104,257 2.48 Mortgage-backed securities: Residential - U.S. Government-sponsored entities 488,550 421,484 2.04 Residential - Non-government agencies 9,614 8,637 3.32 Commercial - U.S. Government-sponsored entities 53,597 45,800 2.35 Commercial - Non-government agencies 16,497 16,306 5.05 Total available-for-sale securities $ 801,506 $ 687,188 2.33 % (1) Weighted-average yields are computed on an annual basis, and yields on tax-exempt obligations are computed on a taxable-equivalent basis using a federal statutory tax rate of 21% During three months ended March 31, 2023 , the Company did not sell any investment securities . In 2022, the Company completed one sale of investment securities for its Class B common stock of Visa during the second quarter and is discussed later in this footnote. Investment securities with carrying values totaling $699.6 million and $607.7 million at March 31, 2023 and December 31, 2022, respectively, were pledged to secure public funds on deposit and other financial transactions. At March 31, 2023 and December 31, 2022, there were no holdings of investment securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of shareholders' equity. There were a total of 81 and 83 HTM investment securities which were in an unrecognized loss position, without an ACL, at March 31, 2023 and December 31, 2022, respectively. There were a total of 236 and 243 AFS investment securities which were in an unrealized loss position, without an ACL, at March 31, 2023 and December 31, 2022, respectively. Th e following tables summarize HTM and AFS investment securities, which were in an unrecognized or unrealized loss position at March 31, 2023 and December 31, 2022, aggregated by major security type and length of time in a continuous unrecognized or unrealized loss position. Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses March 31, 2023 Held-to-maturity: Debt securities: States and political subdivisions $ — $ — $ 37,121 $ (4,746) $ 37,121 $ (4,746) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 305,007 (20,724) 237,643 (33,971) 542,650 (54,695) Total temporarily impaired securities $ 305,007 $ (20,724) $ 274,764 $ (38,717) $ 579,771 $ (59,441) Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2023 Available-for-sale: Debt securities: States and political subdivisions $ 13,008 $ (307) $ 114,337 $ (30,826) $ 127,345 $ (31,133) Corporate securities — — 31,097 (4,990) 31,097 (4,990) U.S. Treasury obligations and direct obligations of U.S Government agencies 5,749 (140) 17,011 (2,055) 22,760 (2,195) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 9,673 (240) 411,811 (66,826) 421,484 (67,066) Residential - Non-government agencies 2,843 (274) 5,795 (703) 8,638 (977) Commercial - U.S. Government-sponsored entities — — 45,800 (7,797) 45,800 (7,797) Commercial - Non-government agencies 16,306 (191) — — 16,306 (191) Total temporarily impaired securities $ 47,579 $ (1,152) $ 625,851 $ (113,197) $ 673,430 $ (114,349) Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses December 31, 2022 Held-to-maturity: Debt securities: States and political subdivisions $ 37,113 $ (4,727) $ — $ — $ 37,113 $ (4,727) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 559,667 (63,376) — — 559,667 (63,376) Total temporarily impaired securities $ 596,780 $ (68,103) $ — $ — $ 596,780 $ (68,103) Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2022 Available-for-sale: Debt securities: States and political subdivisions $ 52,244 $ (4,807) $ 78,389 $ (31,874) $ 130,633 $ (36,681) Corporate securities — — 30,211 (5,995) 30,211 (5,995) U.S. Treasury obligations and direct obligations of U.S Government agencies 9,651 (245) 15,541 (2,072) 25,192 (2,317) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 149,624 (13,990) 274,179 (61,196) 423,803 (75,186) Residential - Non-government agencies 2,890 (334) 5,772 (833) 8,662 (1,167) Commercial - U.S. Government-sponsored entities 25,034 (1,724) 21,110 (6,478) 46,144 (8,202) Commercial - Non-government agencies 1,506 (34) — — 1,506 (34) Total temporarily impaired securities $ 240,949 $ (21,134) $ 425,202 $ (108,448) $ 666,151 $ (129,582) Investment securities in an unrecognized or unrealized loss position are evaluated on at least a quarterly basis, and include evaluating the changes in the investment securities' ratings issued by rating agencies and changes in the financial condition of the issuer. For mortgage-related securities, delinquency and loss information with respect to the underlying collateral, changes in levels of subordination for the Company's particular position within the repayment structure, and remaining credit enhancement as compared to projected credit losses of the security are also evaluated. The Company has evaluated its HTM and AFS investment securities that are in an unrecognized or unrealized loss position and has determined that the unrecognized or unrealized losses on the Company's investment securities are unrelated to credit quality and are primarily attributable to changes in interest rates and volatility in the financial markets since purchase. All of the investment securities in an unrecognized or unrealized loss position continue to be rated investment grade by one or more major rating agencies. As the Company does not intend to sell the HTM and AFS securities that are in an unrecognized or unrealized loss position and it is unlikely that we will be required to sell these securities before recovery of its amortized cost basis that may be at maturity, the Company has not recorded an ACL on these securities and the unrecognized or unrealized losses on these securities have not been recognized into income. Visa Class B Common Stock During the second quarter of 2022, the Company sold its 34,631 shares of Class B common stock of Visa, Inc. ("Visa") and received net proceeds of $8.5 million. As of March 31, 2023, the Company no longer owns any shares of Class B common stock of Visa. The Company received these shares in 2008 as part of Visa's initial public offering ("IPO"). These shares were transferable only under limited circumstances until they could be converted into shares of the publicly traded Class A common stock. This conversion will not occur until the resolution of certain litigation, which is indemnified by Visa members. Since its IPO, Visa has funded a litigation reserve to settle these litigation claims. At its discretion, Visa may continue to increase the litigation reserve based upon a change in the conversion ratio of each member bank’s restricted Class B common stock to unrestricted Class A common stock. Due to the existing transfer restriction and the uncertainty of the outcome of the Visa litigation, the Company determined that the Visa Class B common stock did not have a readily determinable fair value and chose to carry the shares on the Company's consolidated balance sheets at zero cost basis. As a result, the entire net proceeds of $8.5 million were recognized as a pre-tax gain and included in net gain on sales of investment securities in the Company's consolidated statements of income in 2022.

LOANS AND CREDIT QUALITY

LOANS AND CREDIT QUALITY	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
LOANS AND CREDIT QUALITY	4. LOANS AND CREDIT QUALITY The following table presents loans by class, excluding loans held for sale, net of ACL as of March 31, 2023 and December 31, 2022: (dollars in thousands) March 31, 2023 December 31, 2022 Commercial, financial and agricultural: Small Business Administration Paycheck Protection Program $ 1,883 $ 2,654 Other 555,508 544,495 Real estate: Construction 182,091 167,366 Residential mortgage 1,940,639 1,940,456 Home equity 741,894 737,386 Commercial mortgage 1,363,507 1,364,998 Consumer 772,424 798,957 Gross loans 5,557,946 5,556,312 Net deferred fees (549) (846) Total loans, net of deferred fees and costs 5,557,397 5,555,466 Allowance for credit losses (63,099) (63,738) Total loans, net of allowance for credit losses $ 5,494,298 $ 5,491,728 The Company did not transfer any loans to the held-for-sale category during the three months ended March 31, 2023 and 2022. The Company did not sell any loans originally held for investment during the three months ended March 31, 2023 and 2022. As of March 31, 2023 and December 31, 2022, the Company did not have any loans categorized as purchased credit deteriorated, or "PCD". The following table presents loans purchased by class during the periods presented: (dollars in thousands) U.S. Mainland Consumer - Unsecured U.S. Mainland Consumer - Automobile Total Three Months Ended March 31, 2023 Purchases: Outstanding balance $ 3,780 $ 15,159 $ 18,939 (Discount) premium — 568 568 Purchase price $ 3,780 $ 15,727 $ 19,507 Three Months Ended March 31, 2022 Purchases: Outstanding balance $ 48,142 $ 34,024 $ 82,166 (Discount) premium (4,367) 1,914 (2,453) Purchase price $ 43,775 $ 35,938 $ 79,713 Note: Purchases of unsecured consumer loans were made under forward flow purchase agreements. Troubled Debt Restructurings Prior to the Adoption of ASU 2022-02 Prior to our adoption of ASU 2022-02, we accounted for a modification to the contractual terms of a loan that resulted in granting a concession to a borrower experiencing financial difficulties as a troubled debt restructuring ("TDR"). Loans identified as TDRs prior to our adoption of ASU 2022-02 included in nonperforming assets at March 31, 2023 consisted of five Hawaii loans with a principal balance of $1.1 million. There were $2.3 million of loans identified as TDRs prior to our adoption of ASU 2022-02 that were still accruing interest at March 31, 2023, none of which were more than 90 days delinquent. At December 31, 2022, there were $2.8 million of loans identified as TDRs prior to our adoption of ASU 2022-02 that were still accruing interest, none of which were more than 90 days delinquent. The Company offered various types of concessions when modifying a loan. Concessions made to the original contractual terms of the loan typically consisted of the deferral of interest and/or principal payments due to deterioration in the borrowers' financial condition. In these cases, the principal balance on the TDR had matured and/or was in default at the time of restructure, and there were no commitments to lend additional funds to the borrower during the three months ended March 31, 2023 and 2022. During the three months ended March 31, 2022, the Company did not modify any loans as a TDR prior to the adoption of ASU 2022-02. No loans were modified as a TDR prior to the adoption of ASU 2022-02 within the previous twelve months that subsequently defaulted during the three months ended March 31, 2023 and 2022. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans by credit risk. This analysis includes non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed on a quarterly basis. The Company uses the following definitions for risk rating of loans. Loans that do not meet the following criteria that are analyzed individually as part of the described process are considered to be pass-rated loans. Special Mention. Loans classified as special mention, while still adequately protected by the borrower's capital adequacy and payment capability, exhibit distinct weakening trends and/or elevated levels of exposure to external conditions. If left unchecked or uncorrected, these potential weaknesses may result in deteriorated prospects of repayment. These exposures require management's close attention so as to avoid becoming undue or unwarranted credit exposures. Substandard. Loans classified as substandard are inadequately protected by the borrower's current financial condition and payment capability or of the collateral pledged, if any. These loans have a well-defined weakness or weaknesses that jeopardize the orderly repayment of debt. They are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, and in addition have weaknesses that make collection or orderly repayment in full on the basis of current existing facts, conditions and values, highly questionable and improbable. Although the possibility of loss is extremely high, its classification as an estimated loss is deferred until a more exact status may be determined due to certain important and reasonably specific factors that may work to the advantage and strengthening of the exposure. Loss. Loans classified as loss are considered to be non-collectible and of such little value that their continuance as bankable assets is not warranted. This does not mean the loan has absolutely no recovery value, but rather it is neither practical nor desirable to defer writing off the loan, even though partial recovery may be obtained in the future. Losses are taken in the period in which they surface as uncollectible. The following tables present the amortized cost basis of the Company's loans by class, credit quality indicator and origination year as of March 31, 2023 and December 31, 2022. Revolving loans converted to term as of and during the three months ended March 31, 2023 and 2022 were not material to the total loan portfolio. In addition, the following table includes gross charge-offs of loans by origination year in the three months ended March 31, 2023. (dollars in thousands) Amortized Cost of Term Loans by Year of Origination Amortized Cost of Revolving Loans March 31, 2023 2023 2022 2021 2020 2019 Prior Total Commercial, financial and agricultural - SBA PPP: Risk Rating Pass $ — $ — $ — $ 1,813 $ 8 $ — $ — $ 1,821 Subtotal — — — 1,813 8 — — 1,821 Commercial, financial and agricultural - Other: Risk Rating Pass 15,746 90,848 99,502 39,021 55,061 167,248 76,550 543,976 Special Mention — 1,025 326 158 866 3 — 2,378 Substandard — 198 191 786 223 7,213 99 8,710 Subtotal 15,746 92,071 100,019 39,965 56,150 174,464 76,649 555,064 Construction: Risk Rating Pass — 43,148 67,495 17,634 2,363 31,741 13,141 175,522 Substandard — — 5,264 — 688 — — 5,952 Subtotal — 43,148 72,759 17,634 3,051 31,741 13,141 181,474 Residential mortgage: Risk Rating Pass 27,065 276,052 631,544 430,081 153,042 419,060 — 1,936,844 Substandard — — — 941 — 3,445 — 4,386 Subtotal 27,065 276,052 631,544 431,022 153,042 422,505 — 1,941,230 Home equity: Risk Rating Pass 2,621 34,091 22,823 10,251 7,066 19,154 647,191 743,197 Substandard — — — — 73 638 — 711 Subtotal 2,621 34,091 22,823 10,251 7,139 19,792 647,191 743,908 Commercial mortgage: Risk Rating Pass 6,236 235,341 207,258 118,627 115,426 623,358 8,915 1,315,161 Special Mention — — — — 11,169 13,174 — 24,343 Substandard — — 10,140 — 1,691 10,297 — 22,128 Subtotal 6,236 235,341 217,398 118,627 128,286 646,829 8,915 1,361,632 Consumer: Risk Rating Pass 22,455 347,894 226,217 52,531 44,247 24,122 52,079 769,545 Substandard — 77 365 119 144 834 1 1,540 Loss — — — — — 1,183 — 1,183 Subtotal 22,455 347,971 226,582 52,650 44,391 26,139 52,080 772,268 Total $ 74,123 $ 1,028,674 $ 1,271,125 $ 671,962 $ 392,067 $ 1,321,470 $ 797,976 $ 5,557,397 (dollars in thousands) Gross Charge-Offs by Year of Origination Amortized Cost of Revolving Loans Three Months Ended March 31, 2023 2023 2022 2021 2020 2019 Prior Total Commercial, financial and agricultural: Other $ — $ 144 $ 32 $ — $ 191 $ 412 $ — $ 779 Consumer — 904 1,186 200 180 216 — 2,686 Year-to-date gross charge-offs $ — $ 1,048 $ 1,218 $ 200 $ 371 $ 628 $ — $ 3,465 (dollars in thousands) Amortized Cost of Term Loans by Year of Origination Amortized Cost of Revolving Loans December 31, 2022 2022 2021 2020 2019 2018 Prior Total Commercial, financial and agricultural - SBA PPP: Risk Rating Pass $ — $ 2,546 $ 9 $ — $ — $ — $ — $ 2,555 Subtotal — 2,546 9 — — — — 2,555 Commercial, financial and agricultural - Other: Risk Rating Pass 77,550 101,595 41,358 53,241 39,106 141,950 76,466 531,266 Special Mention 2,206 350 172 1,011 29 — 99 3,867 Substandard 188 176 833 256 116 7,215 30 8,814 Subtotal 79,944 102,121 42,363 54,508 39,251 149,165 76,595 543,947 Construction: Risk Rating Pass 25,663 61,027 23,384 2,387 14,309 18,048 15,044 159,862 Special Mention — 417 — — 898 — — 1,315 Substandard — 4,850 — 696 — — — 5,546 Subtotal 25,663 66,294 23,384 3,083 15,207 18,048 15,044 166,723 Residential mortgage: Risk Rating Pass 279,146 636,756 434,928 154,906 58,431 371,517 — 1,935,684 Substandard — — 948 — 503 3,864 — 5,315 Subtotal 279,146 636,756 435,876 154,906 58,934 375,381 — 1,940,999 Home equity: Risk Rating Pass 34,973 23,772 10,520 7,463 6,880 11,727 643,277 738,612 Special Mention — — — — — — 198 198 Substandard — — — — 78 453 39 570 Subtotal 34,973 23,772 10,520 7,463 6,958 12,180 643,514 739,380 Commercial mortgage: Risk Rating Pass 226,137 208,230 119,531 129,950 145,932 472,267 11,473 1,313,520 Special Mention — — — 11,388 — 16,082 — 27,470 Substandard — 10,149 — 1,700 2,133 8,103 — 22,085 Consumer: Risk Rating Pass 358,609 242,942 59,352 50,899 20,065 10,958 54,038 796,863 Special Mention — — — 113 — — — 113 Substandard 1 261 91 126 42 790 — 1,311 Loss — — — — — 500 — 500 Subtotal 358,610 243,203 59,443 51,138 20,107 12,248 54,038 798,787 Total $ 1,004,473 $ 1,293,071 $ 691,126 $ 414,136 $ 288,522 $ 1,063,474 $ 800,664 $ 5,555,466

ALLOWANCE FOR CREDIT LOSSES AND

ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURE	3 Months Ended
	Mar. 31, 2023
ALLOWANCE FOR LOAN AND LEASE LOSSES
ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURE	5. ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURES The following table presents by class, the activity in the ACL for loans under ASC 326 during the three months ended March 31, 2023 and March 31, 2022: (dollars in thousands) Commercial, Financial and Agricultural Real Estate Three Months Ended March 31, 2023 SBA PPP Other Construction Residential Mortgage Home Equity Commercial Mortgage Consumer Total Beginning balance $ 2 $ 6,822 $ 2,867 $ 11,804 $ 4,114 $ 17,902 $ 20,227 $ 63,738 Provision (credit) for credit losses on loans (1) 837 220 (44) (77) (430) 1,110 1,615 Subtotal 1 7,659 3,087 11,760 4,037 17,472 21,337 65,353 Charge-offs — 779 — — — — 2,686 3,465 Recoveries — 250 — 53 — — 908 1,211 Net charge-offs (recoveries) — 529 — (53) — — 1,778 2,254 Ending balance $ 1 $ 7,130 $ 3,087 $ 11,813 $ 4,037 $ 17,472 $ 19,559 $ 63,099 (dollars in thousands) Commercial, Financial and Agricultural Real Estate Three Months Ended March 31, 2022 SBA PPP Other Construction Residential Mortgage Home Equity Commercial Mortgage Consumer Total Beginning balance $ 77 $ 10,314 $ 3,908 $ 12,463 $ 4,509 $ 18,411 $ 18,415 $ 68,097 Provision (credit) for credit losses on loans (41) (848) (72) (1,532) 132 (2,356) 1,786 (2,931) Subtotal 36 9,466 3,836 10,931 4,641 16,055 20,201 65,166 Charge-offs — 254 — — — — 1,216 1,470 Recoveries — 350 — 112 — — 596 1,058 Net charge-offs (recoveries) — (96) — (112) — — 620 412 Ending balance $ 36 $ 9,562 $ 3,836 $ 11,043 $ 4,641 $ 16,055 $ 19,581 $ 64,754 In accordance with GAAP, other real estate assets are not included in our assessment of the ACL. In the three months ended March 31, 2023, we recorded a provision for credit losses of $1.9 million, which consisted of a provision for credit losses on loans of $1.6 million and a provision for credit losses on off-balance sheet credit exposures of $0.3 million. In the three months ended March 31, 2022, we recorded a credit to the provision for credit losses of $3.2 million, which consisted of a credit to the provision for credit losses on loans of $2.9 million and a credit to the provision for credit losses on off-balance sheet credit exposures of $0.3 million. The following table presents the activity in the reserve for off-balance sheet credit exposures, included in other liabilities, during the three months ended March 31, 2023 and March 31, 2022. Three Months Ended March 31, (dollars in thousands) 2023 2022 Beginning balance $ 3,243 $ 4,804 Provision (credit) for off-balance sheet credit exposures 237 (264) Ending balance $ 3,480 $ 4,540

INVESTMENTS IN UNCONSOLIDATED S

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES	3 Months Ended
	Mar. 31, 2023
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]
INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES	6. INVESTMENTS IN UNCONSOLIDATED ENTITIES The components of the Company's investments in unconsolidated entities were as follows: (dollars in thousands) March 31, 2023 December 31, 2022 Investments in low income housing tax credit partnerships, net of amortization $ 40,225 $ 40,939 Investments in common securities of statutory trusts 1,547 1,547 Investments in affiliates 136 110 Other 4,045 4,045 Total $ 45,953 $ 46,641 The Company invests in low-income housing tax credit ("LIHTC") and other partnerships. The Company had commitments to fund LIHTC partnerships totaling $47.8 million and $47.8 million as of March 31, 2023 and December 31, 2022, respectively. Unfunded commitments related to LIHTC partnerships totaled $23.6 million at March 31, 2023 and December 31, 2022, and are included in other liabilities in the Company's consolidated balance sheets. The investments are accounted for under the proportional amortization method and are included in investments in unconsolidated entities in the Company's consolidated balance sheets. During the first quarter of 2022, the Company invested $2.0 million in Swell Financial, Inc. ("Swell"), which included $1.5 million in other intangible assets and services provided in exchange for Swell non-voting common stock and $0.5 million in cash in exchange for Swell preferred stock. Swell launched a consumer banking app that combines checking, credit and more into one integrated account, and Central Pacific Bank will serve as the bank sponsor. The Company does not have the ability to exercise significant influence over Swell and the investment does not have a readily determinable fair value. As a result, the Company determined that the cost method of accounting for the investment was appropriate. The investment is included in investments in unconsolidated entities. During the second quarter of 2021, the Company committed $2.0 million to the JAM FINTOP Banktech Fund, L.P., a venture capital investment fund designed to help develop and accelerate technology adoption at community banks across the United States. The Company had $1.1 million and $1.3 million in unfunded commitments related to the investment as of March 31, 2023 and December 31, 2022, respectively, which is recorded in other liabilities. The investment is accounted for under the cost method and is included in investment in unconsolidated entities. The expected payments for the unfunded commitments of LIHTC and other partnerships as of March 31, 2023 for the remainder of fiscal year 2023, the next five succeeding fiscal years, and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, LIHTC Other Total 2023 (remainder) $ 9,693 $ 1,123 $ 10,816 2024 9,280 — 9,280 2025 4,248 — 4,248 2026 26 — 26 2027 26 — 26 2028 20 — 20 Thereafter 313 — 313 Total unfunded commitments $ 23,606 $ 1,123 $ 24,729 The following table presents amortization and tax credits recognized associated with our investments in LIHTC partnerships for the three months ended March 31, 2023 and March 31, 2022: Three Months Ended March 31, (dollars in thousands) 2023 2022 Proportional amortization method: Amortization expense recognized in income tax expense $ 714 $ 607 Tax credits recognized in income tax expense 892 709

MORTGAGE SERVICING RIGHTS

MORTGAGE SERVICING RIGHTS	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
MORTGAGE SERVICING RIGHTS	7. MORTGAGE SERVICING RIGHTS The following table presents changes in mortgage servicing rights for the periods presented: (dollars in thousands) Balance at December 31, 2022 $ 9,074 Additions 58 Amortization (189) Balance at March 31, 2023 $ 8,943 Balance at December 31, 2021 $ 9,738 Additions 276 Amortization (534) Balance at March 31, 2022 $ 9,480 Income generated as the result of new mortgage servicing rights is reported as gains on sales of loans and totaled $0.1 million for the three months ended March 31, 2023, compared to $0.3 million for the three months ended March 31, 2022. Amortization of mortgage servicing rights totaled $0.2 million f or the three months ended March 31, 2023, compared to $0.5 million for the three months ended March 31, 2022. The following tables present the fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights: Three Months Ended March 31, (dollars in thousands) 2023 2022 Fair market value, beginning of period $ 12,061 $ 10,504 Fair market value, end of period 11,875 11,166 Weighted average discount rate 9.5 % 9.5 % Weighted average prepayment speed assumption 10.3 % 18.3 % The carrying values and accumulated amortization related to our mortgage servicing rights are presented below: March 31, 2023 December 31, 2022 (dollars in thousands) Gross Accumulated Net Gross Accumulated Net Mortgage servicing rights $ 69,471 $ (60,528) $ 8,943 $ 69,413 $ (60,339) $ 9,074 Based on the mortgage servicing rights held as of March 31, 2023, estimated amortization expense for the remainder of fiscal year 2023, the next five succeeding fiscal years and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, 2023 (remainder) $ 668 2024 833 2025 756 2026 684 2027 610 2028 548 Thereafter 4,844 Total $ 8,943

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	8. DERIVATIVES We utilize various designated and undesignated derivative financial instruments to reduce our exposure to movements in interest rates. We measure all derivatives at fair value on our consolidated balance sheet. In each reporting period, we record the derivative instruments in other assets or other liabilities depending on whether the derivatives are in an asset or liability position. For derivative instruments that are designated as cash flow hedging instruments, we record the effective portion of the changes in the fair value of the derivative in AOCI, net of tax, until earnings are affected by the variability of cash flows of the hedged transaction. We immediately recognize the portion of the gain or loss in the fair value of the derivative that represents hedge ineffectiveness in current period earnings. For derivative instruments that are not designated as hedging instruments, changes in the fair value of the derivative are included in current period earnings. Interest Rate Lock and Forward Sale Commitments We may enter into interest rate lock commitments on certain mortgage loans that are intended to be sold. To manage interest rate risk on interest rate lock commitments, we may also enter into forward loan sale commitments. The interest rate locks and forward loan sale commitments are accounted for as undesignated derivatives and are recorded at their respective fair values in other assets and other liabilities, with changes in fair value recorded in current period earnings. These instruments serve to reduce our exposure to movements in interest rates. At March 31, 2023, we were not a party to any interest rate lock or forward sale commitments. Risk Participation Agreements In the first and fourth quarters of 2020, we entered into credit risk participation agreements ("RPA") with financial institution counterparties for interest rate swaps related to loans in which we participate. The risk participation agreements entered into by us and a participant bank provide credit protection to the financial institution counterparties should the borrowers fail to perform on their interest rate derivative contracts with the financial institutions. Back-to-Back Swap Agreements The Company established a program whereby it originates a variable rate loan and enters into a variable-to-fixed interest rate swap with the customer. The Company also enters into an equal and offsetting swap with a highly rated third-party financial institution. These "back-to-back swap agreements" are intended to offset each other and allow the Company to originate a variable rate loan, while providing a contract for fixed interest payments for the customer. The net cash flow for the Company is equal to the interest income received from a variable rate loan originated with the customer. These back-to-back swap agreements are free-standing derivatives and are recorded at fair value on our consolidated balance sheet in other assets or other liabilities. As of March 31, 2023, the Company had swap agreements with its borrowers with a total notional amount of $32.1 million, offset by swap agreements with third party financial institutions with the same total notional amount of $32.1 million. As of March 31, 2023, the Company held $8.5 million in counter-party collateral related to the back-to-back swap agreements. Interest Rate Swaps During the first quarter of 2022, the Company entered into a forward starting interest rate swap, with an effective date of March 31, 2024. This transaction had a notional amount totaling $115.5 million as of March 31, 2023, and was designated as a fair value hedge of certain municipal debt securities. The Company will pay the counterparty a fixed rate of 2.095% and will receive a floating rate based on the Federal Funds effective rate. The fair value hedge has a maturity date of March 31, 2029. The interest rate swap is carried on the Company’s consolidated balance sheet at its fair value in other assets (when the fair value is positive) or in other liabilities (when the fair value is negative). The changes in the fair value of the interest rate swap are recorded in interest income. The unrealized gains or losses due to changes in fair value of the hedged debt securities due to changes in benchmark interest rates are recorded as an adjustment to the hedged debt securities and offset in the same interest income line item. The following tables present the location of all assets and liabilities associated with our derivative instruments within the consolidated balance sheets: Derivative Financial Instruments Not Designated as Hedging Instruments Asset Derivatives Liability Derivatives Fair Value at Fair Value at (dollars in thousands) Balance Sheet Location March 31, December 31, March 31, December 31, Interest rate lock and forward sale commitments Other assets / other liabilities $ — $ 10 $ — $ 2 Back-to-back swap agreements Other assets / other liabilities 3,636 4,611 3,636 4,611 Derivative Financial Instruments Designated as Hedging Instruments Asset Derivatives Liability Derivatives Fair Value at Fair Value at (dollars in thousands) Balance Sheet Location March 31, December 31, March 31, December 31, Interest rate swap Other assets / other liabilities $ 4,444 $ 5,986 $ — $ — The following tables present the impact of derivative instruments and their location within the consolidated statements of income: Derivative Financial Instruments Location of Gain (Loss) Amount of Gain (Loss) (dollars in thousands) Three Months Ended March 31, 2023 Interest rate lock and forward sale commitments Mortgage banking income $ (8) Three Months Ended March 31, 2022 Interest rate lock and forward sale commitments Mortgage banking income 143 Risk participation agreements Other service charges and fees 16 Derivative Financial Instruments Location of Loss Amount of Loss (dollars in thousands) Three Months Ended March 31, 2023 Interest rate swap Interest income $ 57 Three Months Ended March 31, 2022 Interest rate swap Interest income —

SHORT-TERM BORROWINGS AND LONG-

SHORT-TERM BORROWINGS AND LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
SHORT-TERM BORROWINGS AND LONG-TERM DEBT	9. SHORT-TERM BORROWINGS AND LONG-TERM DEBT Federal Home Loan Bank Advances and Other Borrowings The bank is a member of the Federal Home Loan Bank of Des Moines (the "FHLB") and maintained a $2.05 billion line of credit as of March 31, 2023, compared to $2.23 billion at December 31, 2022. At March 31, 2023, $1.94 billion was undrawn under this arrangement, compared to $2.19 billion at December 31, 2022. There were $25.0 million in short-term borrowings under this arrangement bearing an interest rate of 5.07% at March 31, 2023, compared to $5.0 million at December 31, 2022. Letters of credit under this arrangement that are used to collateralize certain government deposits totaled $36.0 million as of March 31, 2023, and remained unchanged from $36.0 million as of December 31, 2022. There were $50.0 million in long-term borrowings under this arrangement bearing interest rates between 4.02% and 4.62% at March 31, 2023, compared to no long-term borrowings at December 31, 2022. FHLB advances and standby letters of credit available at March 31, 2023 were secured by certain real estate loans with a carrying value of $3.19 billion in accordance with the collateral provisions of the Advances, Security and Deposit Agreement with the FHLB. At March 31, 2023 and December 31, 2022, our bank had additional unused borrowings available at the Federal Reserve discount window of $76.6 million and $75.9 million, respectively. As of March 31, 2023 and December 31, 2022, certain commercial and commercial real estate loans with a carrying value totaling $123.2 million and $125.0 million, respectively, were pledged as collateral on our line of credit with the Federal Reserve discount window. The Federal Reserve does not have the right to sell or repledge these loans. Subordinated Debentures In September 2004, we created a wholly-owned statutory trust, CPB Capital Trust IV ("Trust IV"). Trust IV issued $30.0 million in floating rate trust preferred securities bearing an interest rate of three-month LIBOR plus 2.45% and maturing on December 15, 2034. The principal assets of Trust IV are $30.9 million of the Company's junior subordinated debentures with an identical interest rate and maturity as the Trust IV trust preferred securities. Trust IV issued $0.9 million of common securities to the Company. In December 2004, we created a wholly-owned statutory trust, CPB Statutory Trust V ("Trust V"). Trust V issued $20.0 million in floating rate trust preferred securities bearing an interest rate of three-month LIBOR plus 1.87% and maturing on December 15, 2034. The principal assets of Trust V are $20.6 million of the Company's junior subordinated debentures with an identical interest rate and maturity as the Trust V trust preferred securities. Trust V issued $0.6 million of common securities to the Company. At March 31, 2023 and December 31, 2022, the Company had the following junior subordinated debentures outstanding, which are recorded in long-term debt on the Company's consolidated balance sheets: (dollars in thousands) Name of Trust March 31, 2023 December 31, 2022 Interest Rate Trust IV $ 30,928 $ 30,928 Three month LIBOR + 2.45% Trust V 20,619 20,619 Three month LIBOR + 1.87% Total $ 51,547 $ 51,547 The Company is not considered the primary beneficiary of Trusts IV and V. Therefore, the trusts are not considered a variable interest entity and are not consolidated in the Company's financial statements. Rather the subordinated debentures are shown as a liability on the Company's consolidated balance sheets. The Company's investment in the common securities of the trusts are included in investment in unconsolidated entities in the Company's consolidated balance sheets. The floating trust preferred securities, the junior subordinated debentures that are the assets of Trusts IV and V and the common securities issued by Trusts IV and V are redeemable in whole or in part on any interest payment date on or after December 15, 2009 for Trust IV and V, or at any time in whole but not in part within 90 days following the occurrence of certain events. Our obligations with respect to the issuance of the trust preferred securities constitute a full and unconditional guarantee by the Company of each trust's obligations with respect to its trust preferred securities. Subject to certain exceptions and limitations, we may elect from time to time to defer interest payments on the subordinated debentures, which would result in a deferral of distribution payments on the related trust preferred securities, for up to 20 consecutive quarterly periods without default or penalty. The subordinated debentures may be included in Tier 1 capital, with certain limitations applicable, under current regulatory guidelines and interpretations. Subordinated Notes As of March 31, 2023 and December 31, 2022, the Company had the following subordinated notes outstanding: (dollars in thousands) Description March 31, 2023 Interest Rate October 2020 Private Placement $ 55,000 4.75% for the first five years. Resets quarterly thereafter to the then current three-month SOFR plus 456 basis points. (dollars in thousands) Description December 31, 2022 Interest Rate October 2020 Private Placement $ 55,000 4.75% for the first five years. Resets quarterly thereafter to the then current three-month SOFR plus 456 basis points. On October 20, 2020, the Company completed a $55.0 million private placement of ten-year fixed-to-floating rate subordinated notes, which will be used to support regulatory capital ratios and for general corporate purposes. The Company exchanged the privately placed notes for registered notes with the same terms and in the same aggregate principal amount at the end of the fourth quarter of 2020. The Notes bear a fixed interest rate of 4.75% for the first five years and will reset quarterly thereafter for the remaining five years to the then current three-month Secured Overnight Financing Rate ("SOFR"), as published by the Federal Reserve Bank of New York, plus 456 basis points. The subordinated notes may be included in Tier 2 capital, with certain limitations applicable, under current regulatory guidelines and interpretations. The subordinated notes had a carrying value of $54.4 million, net of unamortized debt issuance costs of $0.6 million, at March 31, 2023.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	10. REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue Recognition Accounting Standards Codification ("ASC") 606, "Revenue from Contracts with Customers" , establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity's contracts to provide goods or services to its customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services. Revenue is recognized as performance obligations are satisfied. The Company recognizes revenues as they are earned based on contractual terms, as transactions occur, or as services are provided and collectability is reasonably assured. Our principal source of revenue is derived from interest income on financial instruments, such as our loan and investment securities portfolios, as well as revenue related to our mortgage banking activities. These revenue-generating transactions are out of scope of ASC 606, but are subject to other GAAP and discussed elsewhere within our disclosures. The Company also generates other revenue in connection with our broad range of banking products and financial services. Descriptions of our other revenue-generating activities that are within the scope of ASC 606, which are presented in the Company's consolidated statements of income as components of other operating income are as follows: Mortgage banking income Loan placement fees, included in mortgage banking income, primarily represent revenues earned by the Company for loan placement and underwriting. Revenues for these services are recorded at a point-in-time, upon completion of a contractually identified transaction, or when an advisory opinion is provided. Service charges on deposit accounts Revenue from service charges on deposit accounts includes general service fees for monthly account maintenance and activity- or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed, which is generally monthly for account maintenance services or when a transaction has been completed (such as stop payment fees). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. Other Service Charges and Fees Revenue from other service charges and fees includes fees on foreign exchange, cards and payments income, safe deposit rental income and other service charges, commissions and fees. The Company provides foreign currency exchange services to customers, whereby cash can be converted to different foreign currencies, and vice versa. As a result of the services, a gain or loss is recognized on foreign currency transactions, as well as income related to commissions and fees earned on each transaction. Revenue from the commissions and fees earned on the transactions fall within the scope of ASC 606, and is recorded in a manner that reflects the timing of when transactions occur, and as services are provided. Realized and unrealized gains or losses related to foreign currency are out of scope of ASC 606. Cards and payments income includes interchange fees from debit cards processed through card association networks, merchant services, and other card related services. Interchange rates are generally set by the credit card associations and based on purchase volumes and other factors. Interchange fees are recognized as transactions occur. Interchange expenses related to cards and payments income are presented gross in other operating expense. Merchant services income represents account management fees and transaction fees charged to merchants for the processing of card association network transactions. Merchant services revenue is recognized as transactions occur, or as services are performed. Other service charges, commissions and fees include automated teller machines ("ATM") surcharge and interchange fees, bill payment fees, cashier’s check and money order fees, wire transfer fees, loan brokerage fees, and commissions on sales of insurance, broker-dealer products, and letters of credit. Revenue from these fees and commissions is recorded in a manner that reflects the timing of when transactions occur, and as services are provided. Based on the nature of the commission agreement with the broker-dealer and each insurance provider, we may recognize revenue from broker-dealer and insurance commissions over time or at a point-in-time as our performance obligation is satisfied. Income from Fiduciary Activities Income from fiduciary activities includes fees from wealth management, trust, custodial and escrow services provided to individual and institutional customers. Revenue is generally recognized monthly based on a minimum annual fee and/or the market value of assets in custody. Additional fees are recognized for transactional activity. Revenue from trade execution and brokerage services is earned through commissions from trade execution on behalf of clients. Revenue from these transactions is recognized at the trade date. Any ongoing service fees are recognized on a monthly basis as services are performed. Net Gain (Loss) on Sales of Foreclosed Assets The Company records a gain or loss on the sale of a foreclosed property when control of the property transfers to the Company, which typically occurs at the time the deed is executed. The Company does not finance the sale of the foreclosed property. The following presents the Company's other operating income, segregated by revenue streams that are in-scope and out-of-scope of ASC 606, "Revenue from Contracts with Customers" for the three months ended March 31, 2023 and 2022: Three Months Ended March 31, (dollars in thousands) 2023 2022 Other operating income: In-scope of ASC 606 Mortgage banking income $ 151 $ 235 Service charges on deposit accounts 305 1,861 Other service charges and fees 4,379 3,863 Income on fiduciary activities 1,321 1,154 In-scope other operating income 6,156 7,113 Out-of-scope other operating income 4,853 2,438 Total other operating income $ 11,009 $ 9,551

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	11. SHARE-BASED COMPENSATION Restricted and Performance Stock Units Under the Company's 2013 Stock Compensation Plan, the Company awards restricted stock units ("RSUs") and performance stock units ("PSUs") to our non-officer directors and certain senior management personnel. The awards typically vest over a two, three The table below presents the activity of RSUs and PSUs for the three months ended March 31, 2023: (dollars in thousands, except per share data) Shares Weighted Average Grant Date Fair Value Fair Value of RSUs and PSUs That Vested During the Period Non-vested RSUs and PSUs, beginning of period 352,465 $ 23.40 Changes during the period: Granted 111,680 23.05 Forfeited (46,801) 25.17 Vested (128,350) 23.17 $ 3,017 Non-vested RSUs and PSUs, end of period 288,994 23.08

PENSION AND SUPPLEMENTAL EXECUT

PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS	12. SUPPLEMENTAL EXECUTIVE RETIREMENT AND DEFINED BENEFIT RETIREMENT PLANS Supplemental Executive Retirement Plans In 1995, 2001, 2004 and 2006, our bank also established Supplemental Executive Retirement Plans ("SERPs"), which provide certain (current and former) officers of the Company with supplemental retirement benefits. On December 31, 2002, the 1995 and 2001 SERP were curtailed. In conjunction with the merger with CB Bancshares, Inc. ("CBBI"), we assumed CBBI's SERP obligation. The projected benefit obligation of the unfunded SERPs is recorded in other liabilities on the Company's consolidated balance sheets. The projected benefit obligation was $9.2 million at March 31, 2023, which remained relatively unchanged from $9.2 million at December 31, 2022. The following table sets forth the components of net periodic benefit cost for the SERPs for the periods indicated: Three Months Ended March 31, (dollars in thousands) 2023 2022 Interest cost $ 112 $ 75 Amortization of net actuarial (gain) loss (19) 21 Amortization of net transition obligation 2 4 Net periodic benefit cost $ 95 $ 100 All components of net periodic benefit cost are included in other operating expenses in the Company's consolidated statements of income. Defined Benefit Retirement Plan Central Pacific Bank had a defined benefit retirement plan that covered substantially all of its employees who were employed during the period that the plan was in effect. The plan was initially curtailed in 1986, and accordingly, plan benefits were fixed as of that date. Effective January 1, 1991, the bank reactivated its defined benefit retirement plan. As a result of the reactivation, employees for whom benefits were fixed in 1986 began to accrue additional benefits under a new formula that became effective January 1, 1991. Employees who were not participants at curtailment, but who were subsequently eligible to join, became participants effective January 1, 1991. Under the reactivated plan, benefits are based upon the employees' years of service and their highest average annual salaries in a 60-consecutive-month period of service, reduced by benefits provided from the bank's terminated money purchase pension plan. The reactivation of the defined benefit retirement plan resulted in an increase of $5.9 million in the unrecognized prior service cost, which was amortized over a period of 13 years. Effective December 31, 2002, the bank curtailed its defined benefit retirement plan, and accordingly, plan benefits were fixed as of that date. In January 2021, the Board of Directors approved termination of, and authorized Company management to commence taking action to terminate, the defined benefit retirement plan. The Company received a favorable determination letter from the IRS and no objection from the Pension Benefit Guaranty Corporation on the Form 500 standard termination notice in January 2022. The Company completed the termination and settlement of the defined benefit retirement plan in the second quarter of 2022. Upon final plan termination and settlement, the Company recognized a one-time noncash settlement charge of $4.9 million which was recorded in other operating expense. As of March 31, 2023, the Company has no further defined benefit retirement plan liability or ongoing pension expense recognition. The following table sets forth the components of net periodic benefit cost for the defined benefit retirement plan for the periods indicated: Three Months Ended March 31, (dollars in thousands) 2023 2022 Interest cost $ — $ — Expected return on plan assets — (12) Amortization of net actuarial loss — 112 Settlement — — Net periodic benefit cost $ — $ 100

OPERATING LEASES

OPERATING LEASES	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
LEASES	13. OPERATING LEASES We lease certain land and buildings for our bank branches and ATMs. In some instances, a lease may contain renewal options to extend the term of the lease. Renewal options that are likely to be exercised have been recognized as part of our right-of-use assets and lease liabilities in accordance with ASC 842, "Leases" . Certain leases also contain variable payments that are primarily determined based on common area maintenance costs and Hawaii state tax rates. All leases are operating leases and we do not include any short term leases in the calculation of the right-of-use assets and lease liabilities. The most significant assumption related to the Company’s application of ASC 842 was the discount rate assumption. As most of the Company’s lease agreements do not provide for an implicit interest rate, the Company uses the collateralized interest rate that the Company would have to pay to borrow over a similar term to estimate the Company’s lease liability. Total lease cost, cash flow information, weighted-average remaining lease term and weighted-average discount rate is summarized below for the period indicated: Three Months Ended March 31, (dollars in thousands) 2023 2022 Lease cost: Operating lease cost $ 1,325 $ 1,390 Variable lease cost 888 830 Less: Sublease income (17) (12) Total lease cost $ 2,196 $ 2,208 Other information: Operating cash flows from operating leases $ (1,390) $ (1,506) Weighted-average remaining lease term - operating leases 11.22 years 11.49 years Weighted-average discount rate - operating leases 3.96 % 3.92 % The following is a schedule of annual undiscounted cash flows for our operating leases and a reconciliation of those cash flows to the operating lease liabilities for the remainder of fiscal year 2023, the next five succeeding fiscal years and all years thereafter: (dollars in thousands) Undiscounted Cash Flows Lease Liability Discount on Cash Flows Lease Liability Year Ending December 31, 2023 (remainder) $ 3,736 $ 994 $ 2,742 2024 4,467 1,210 3,257 2025 4,181 1,085 3,096 2026 4,118 965 3,153 2027 4,108 840 3,268 2028 3,509 723 2,786 Thereafter 19,682 2,908 16,774 Total $ 43,801 $ 8,725 $ 35,076 In addition, the Company, as lessor, leases certain properties that it owns. All of these leases are operating leases. The following represents lease income related to these leases that was recognized for the period indicated: Three Months Ended March 31, (dollars in thousands) 2023 2022 Total rental income recognized $ 562 $ 951 Based on the Company's leases as lessor as of March 31, 2023, estimated lease payments for the remainder of fiscal year 2023, the next five succeeding fiscal years and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, 2023 (remainder) $ 1,008 2024 1,189 2025 1,074 2026 939 2027 882 2028 532 Thereafter 1,839 Total $ 7,463
LEASES	13. OPERATING LEASES We lease certain land and buildings for our bank branches and ATMs. In some instances, a lease may contain renewal options to extend the term of the lease. Renewal options that are likely to be exercised have been recognized as part of our right-of-use assets and lease liabilities in accordance with ASC 842, "Leases" . Certain leases also contain variable payments that are primarily determined based on common area maintenance costs and Hawaii state tax rates. All leases are operating leases and we do not include any short term leases in the calculation of the right-of-use assets and lease liabilities. The most significant assumption related to the Company’s application of ASC 842 was the discount rate assumption. As most of the Company’s lease agreements do not provide for an implicit interest rate, the Company uses the collateralized interest rate that the Company would have to pay to borrow over a similar term to estimate the Company’s lease liability. Total lease cost, cash flow information, weighted-average remaining lease term and weighted-average discount rate is summarized below for the period indicated: Three Months Ended March 31, (dollars in thousands) 2023 2022 Lease cost: Operating lease cost $ 1,325 $ 1,390 Variable lease cost 888 830 Less: Sublease income (17) (12) Total lease cost $ 2,196 $ 2,208 Other information: Operating cash flows from operating leases $ (1,390) $ (1,506) Weighted-average remaining lease term - operating leases 11.22 years 11.49 years Weighted-average discount rate - operating leases 3.96 % 3.92 % The following is a schedule of annual undiscounted cash flows for our operating leases and a reconciliation of those cash flows to the operating lease liabilities for the remainder of fiscal year 2023, the next five succeeding fiscal years and all years thereafter: (dollars in thousands) Undiscounted Cash Flows Lease Liability Discount on Cash Flows Lease Liability Year Ending December 31, 2023 (remainder) $ 3,736 $ 994 $ 2,742 2024 4,467 1,210 3,257 2025 4,181 1,085 3,096 2026 4,118 965 3,153 2027 4,108 840 3,268 2028 3,509 723 2,786 Thereafter 19,682 2,908 16,774 Total $ 43,801 $ 8,725 $ 35,076 In addition, the Company, as lessor, leases certain properties that it owns. All of these leases are operating leases. The following represents lease income related to these leases that was recognized for the period indicated: Three Months Ended March 31, (dollars in thousands) 2023 2022 Total rental income recognized $ 562 $ 951 Based on the Company's leases as lessor as of March 31, 2023, estimated lease payments for the remainder of fiscal year 2023, the next five succeeding fiscal years and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, 2023 (remainder) $ 1,008 2024 1,189 2025 1,074 2026 939 2027 882 2028 532 Thereafter 1,839 Total $ 7,463

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	14. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables present the components of other comprehensive income (loss) ("AOCI") for the three months ended March 31, 2023 and 2022, by component: (dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2023 Net change in fair value of investment securities: Net unrealized gains on AFS investment securities arising during the period $ 15,258 $ 4,052 $ 11,206 Less: Amortization of unrealized losses on investment securities transferred to HTM 1,668 443 1,225 Net change in fair value of investment securities 16,926 4,495 12,431 Net change in fair value of derivatives: Net unrealized losses arising during the period (1,599) (436) (1,163) Net change in fair value of derivatives (1,599) (436) (1,163) SERPs: Amortization of net actuarial loss (19) (5) (14) Amortization of net transition obligation 2 — 2 SERPs (17) (5) (12) Other comprehensive income $ 15,310 $ 4,054 $ 11,256 (dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2022 Net change in fair value of investment securities: Net unrealized losses on AFS investment securities arising during the period $ (108,448) $ (28,998) $ (79,450) Net change in fair value of investment securities (108,448) (28,998) (79,450) Net change in fair value of derivatives: Net unrealized losses arising during the period $ (50) $ (13) $ (37) Net change in fair value of derivatives (50) (13) (37) Defined benefit retirement plan and SERPs: Amortization of net actuarial loss 133 36 97 Amortization of net transition obligation 4 1 3 Defined benefit retirement plan and SERPs 137 37 100 Other comprehensive loss $ (108,361) $ (28,974) $ (79,387) The following tables present the changes in each component of AOCI, net of tax, for the three months ended March 31, 2023 and 2022: (dollars in thousands) Investment Securities Derivatives SERPs [1] AOCI Three Months Ended March 31, 2023 Balance at beginning of period $ (149,109) $ 4,645 $ 480 $ (143,984) Other comprehensive income (loss) before reclassifications 11,206 (1,163) — 10,043 Reclassification adjustments from AOCI 1,225 — (12) 1,213 Total other comprehensive income (loss) 12,431 (1,163) (12) 11,256 Balance at end of period $ (136,678) $ 3,482 $ 468 $ (132,728) (dollars in thousands) Investment Securities Derivatives Defined Benefit Retirement Plan and SERPs [1] AOCI Three Months Ended March 31, 2022 Balance at beginning of period $ (3,666) $ — $ (4,294) $ (7,960) Other comprehensive loss before reclassifications (79,450) (37) — (79,487) Reclassification adjustments from AOCI — — 100 100 Total other comprehensive (loss) income (79,450) (37) 100 (79,387) Balance at end of period $ (83,116) $ (37) $ (4,194) $ (87,347) [1] During the second quarter of 2022, the Company settled all obligations related to its defined benefit retirement plan. As a result, all subsequent activity in the Company's AOCI balance related to the defined benefit retirement plan and SERPs relates entirely to SERPs. The following table presents the amounts reclassified out of each component of AOCI for the three months ended March 31, 2023 and 2022: Amount Reclassified from AOCI Affected Line Item in the Statement Where Net Income is Presented (dollars in thousands) Three Months Ended March 31, Details about AOCI Components 2023 2022 Amortization of unrealized losses on investment securities transferred to held-to-maturity: Amortization $ (1,668) $ — Interest and dividends on investment securities Tax effect 443 — Income tax expense Net of tax $ (1,225) $ — Defined benefit retirement and supplemental executive retirement plan items: Amortization of net actuarial gain (loss) $ 19 $ (133) Other operating expense - other Amortization of net transition obligation (2) (4) Other operating expense - other Total before tax 17 (137) Tax effect (5) 37 Income tax benefit (expense) Net of tax $ 12 $ (100) Total reclassification adjustments from AOCI for the period, net of tax $ (1,213) $ (100)

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	15. EARNINGS PER SHARE The following table presents the information used to compute basic and diluted earnings per common share for the periods indicated: Three Months Ended March 31, (dollars in thousands, except per share data) 2023 2022 Net income $ 16,187 $ 19,438 Weighted average common shares outstanding - basic 26,999,138 27,591,390 Dilutive effect of employee stock options and awards 122,874 283,534 Weighted average common shares outstanding - diluted 27,122,012 27,874,924 Basic earnings per common share $ 0.60 $ 0.70 Diluted earnings per common share $ 0.60 $ 0.70

FAIR VALUE OF FINANCIAL ASSETS

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	16. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES Disclosures about Fair Value of Financial Instruments Fair value estimates, methods and assumptions are set forth below for our financial instruments. Short-Term Financial Instruments The carrying values of short-term financial instruments are deemed to approximate fair values. Such instruments are considered readily convertible to cash and include cash and due from financial institutions, interest-bearing deposits in other financial institutions, accrued interest receivable, the majority of Federal Home Loan Bank advances and other short-term borrowings, and accrued interest payable. Investment Securities The fair value of investment securities is based on market price quotations received from third-party pricing services. The third-party pricing services utilize pricing models supported with timely market data information. Where quoted market prices are not available, fair values are based on quoted market prices of comparable securities. Loans Fair values of loans are estimated based on discounted cash flows of portfolios of loans with similar financial characteristics including the type of loan, interest terms and repayment history. Fair values are calculated by discounting scheduled cash flows through estimated maturities using estimated market discount rates. Estimated market discount rates are reflective of credit and int erest rate risks inherent in the Company's various loan types and are derived from available market information, as well as specific borrower information. As of March 31, 2023, the weighted average discount rate used in the valuation of loans was 7.33%. In accordance with ASU 2016-01, the fair value of loans are measured based on the notion of exit price. Loans Held for Sale The fair value of loans classified as held for sale are generally based upon quoted prices for similar assets in active markets, acceptance of firm offer letters with agreed upon purchase prices, discounted cash flow models that take into account market observable assumptions, or independent appraisals of the underlying collateral securing the loans. We report the fair values of Hawaii and U.S. Mainland construction and commercial real estate loans, if any, net of applicable selling costs on our consolidated balance sheets. Deposit Liabilities The fair values of deposits with no stated maturity, such as noninterest-bearing demand deposits and interest-bearing demand and savings accounts, for the purposes of this disclosure, are shown to equal the carrying amount which is the amount payable on demand. The fair value of time deposits is estimated by discounting future cash flows using rates currently offered for FHLB advances of similar remaining maturities. As of March 31, 2023, the weighted average discount rate used in the valuation of time deposits was 5.14%. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. Long-Term Debt The fair value of our long-term debt is estimated by discounting scheduled cash flows over the contractual borrowing period at the estimated market rate for similar borrowing arrangements. As of March 31, 2023, the weighted average discount rate used in the valuation of long-term debt was 6.81%. Derivatives The fair values of derivative financial instruments are based upon current market values, if available. If there are no relevant comparable values, fair values are based on pricing models using current assumptions for interest rate swaps and options. Off-Balance Sheet Financial Instruments The fair values of off-balance sheet financial instruments are estimated based on the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties, current settlement values or quoted market prices of comparable instruments. Limitations Fair value estimates are made at a specific point in time based on relevant market and financial instrument information. These estimates do not reflect any premium or discount that could result from offering for sale at one time our entire holdings of a particular financial instrument. Because no market exists for a significant portion of our financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates cannot be determined with precision as they are subjective in nature and involve uncertainties and matters of significant judgment. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of future business and the value of assets and liabilities that are not considered financial instruments. For example, significant assets and liabilities that are not considered financial assets or liabilities include deferred tax assets, premises and equipment and intangible assets. Fair Value Measurement Using (dollars in thousands) Carrying Estimated Quoted Prices Significant Significant March 31, 2023 Financial assets: Cash and due from banks $ 108,535 $ 108,535 $ 108,535 $ — $ — Interest-bearing deposits in other banks 90,247 90,247 90,247 — — Investment securities 1,345,784 1,286,488 — 1,279,183 7,305 Loans, net of ACL 5,494,298 5,075,864 — — 5,075,864 Accrued interest receivable 20,473 20,473 20,473 — — Financial liabilities: Deposits: Noninterest-bearing demand 2,028,087 2,028,087 2,028,087 — — Interest-bearing demand and savings and money market 3,571,588 3,571,588 3,571,588 — — Time 1,147,293 1,132,282 — — 1,132,282 FHLB advances and other short-term borrowings 25,000 25,000 — 25,000 — Long-term debt 155,920 138,077 — — 138,077 Accrued interest payable (included in other liabilities) 7,688 7,688 7,688 — — Fair Value Measurement Using (dollars in thousands) Notional Carrying Estimated Quoted Prices Significant Significant March 31, 2023 Off-balance sheet financial instruments: Commitments to extend credit $ 1,382,978 $ — $ 1,365 $ — $ 1,365 $ — Standby letters of credit and financial guarantees written 5,194 — 78 — 78 — Derivatives: Risk participation agreements 36,634 — — — — — Back-to-back swap agreements: Assets 32,136 3,636 3,636 — — 3,636 Liabilities (32,136) (3,636) (3,636) — — (3,636) Interest rate swap agreements 115,545 4,444 4,444 — — 4,444 Fair Value Measurement Using (dollars in thousands) Carrying Estimated Quoted Prices Significant Significant December 31, 2022 Financial assets: Cash and due from banks $ 97,150 $ 97,150 $ 97,150 $ — $ — Interest-bearing deposits in other banks 14,894 14,894 14,894 — — Investment securities 1,336,677 1,268,574 — 1,261,306 7,268 Loans held for sale 1,105 1,105 — 1,105 — Loans, net of ACL 5,491,728 5,043,436 — — 5,043,436 Accrued interest receivable 20,345 20,345 20,345 — — Financial liabilities: Deposits: Noninterest-bearing demand 2,092,823 2,092,823 2,092,823 — — Interest-bearing demand and savings and money market 3,652,195 3,652,195 3,652,195 — — Time 991,205 975,086 — — 975,086 Long-term debt 105,859 93,729 — — 93,729 Accrued interest payable (included in other liabilities) 4,739 4,739 4,739 — — Fair Value Measurement Using (dollars in thousands) Notional Carrying Estimated Quoted Prices Significant Significant December 31, 2022 Off-balance sheet financial instruments: Commitments to extend credit $ 1,328,791 $ — $ 1,270 $ — $ 1,270 $ — Standby letters of credit and financial guarantees written 5,367 — 80 — 80 — Derivatives: Forward sale commitments 1,110 8 8 — 8 — Risk participation agreements 36,835 — — — — — Back-to-back swap agreements: Assets 32,335 4,611 4,611 — — 4,611 Liabilities (32,335) (4,611) (4,611) — — (4,611) Interest rate swap agreements 115,545 5,986 5,986 — — 5,986 Fair Value Measurements We group our financial assets and liabilities at fair value into three levels based on the markets in which the financial assets and liabilities are traded and the reliability of the assumptions used to determine fair value as follows: • Level 1 — Valuation is based upon quoted prices (unadjusted) for identical assets or liabilities traded in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. • Level 2 — Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 — Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of discounted cash flow models and similar techniques that requires the use of significant judgment or estimation. We base our fair values on the price that we would expect to receive if an asset were sold, or the price that we would expect to pay to transfer a liability in an orderly transaction between market participants at the measurement date. We also maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. We use fair value measurements to record adjustments to certain financial assets and liabilities and to determine fair value disclosures. Available-for-sale securities and derivatives are recorded at fair value on a recurring basis. Periodically, we may be required to record other financial assets at fair value on a nonrecurring basis such as loans held for sale, impaired loans, mortgage servicing rights, and other real estate owned. These nonrecurring fair value adjustments typically involve application of the lower of cost or fair value accounting or write-downs of individual assets. As discussed in Note 8 - Derivatives, during the first quarter of 2022, the Company entered into a forward starting interest rate swap, which was measured at fair value using Level 3 inputs. There were no other transfers of financial assets and liabilities into or out of Level 3 of the fair value hierarchy during the three months ended March 31, 2023. The following tables present the fair value of assets and liabilities measured on a recurring basis as of March 31, 2023 and December 31, 2022: Fair Value at Reporting Date Using (dollars in thousands) Fair Value Quoted Prices Significant Significant March 31, 2023 Available-for-sale securities: Debt securities: States and political subdivisions $ 139,521 $ — $ 132,927 $ 6,594 Corporate securities 31,097 — 31,097 — U.S. Treasury obligations and direct obligations of U.S. Government agencies 24,343 — 24,343 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 421,484 — 421,484 — Residential - Non-government agencies 8,637 — 7,926 711 Commercial - U.S. Government-sponsored entities 45,800 — 45,800 — Commercial - Non-government agencies 16,306 — 16,306 — Total available-for-sale investment securities 687,188 — 679,883 7,305 Derivatives: Interest rate swap agreements 4,444 — — 4,444 Total derivatives 4,444 — — 4,444 Total $ 691,632 $ — $ 679,883 $ 11,749 Fair Value at Reporting Date Using (dollars in thousands) Fair Value Quoted Prices Significant Significant December 31, 2022 Available-for-sale securities: Debt securities: States and political subdivisions $ 135,752 $ — $ 129,168 $ 6,584 Corporate securities 30,211 — 30,211 — U.S. Treasury obligations and direct obligations of U.S. Government agencies 25,715 — 25,715 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 423,803 — 423,803 — Residential - Non-government agencies 8,662 — 7,978 684 Commercial - U.S. Government-sponsored entities 46,144 — 46,144 — Commercial - Non-government agencies 1,507 — 1,507 — Total available-for-sale investment securities 671,794 — 664,526 7,268 Derivatives: Interest rate lock commitments 8 — 8 — Interest rate swap agreements 5,986 — — 5,986 Total derivatives 5,994 — 8 5,986 Total $ 677,788 $ — $ 664,534 $ 13,254 For the three months ended March 31, 2023 and 2022, the changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: Available-For-Sale Debt Securities: (dollars in thousands) States and Political Subdivisions Residential - Non-Government Agencies Total Balance at December 31, 2022 $ 6,584 $ 684 $ 7,268 Principal payments received (56) (6) (62) Unrealized net gain included in other comprehensive income 66 33 99 Balance at March 31, 2023 $ 6,594 $ 711 $ 7,305 Balance at December 31, 2021 $ 7,681 $ 938 $ 8,619 Principal payments received (55) (5) (60) Unrealized net loss included in other comprehensive income (397) (81) (478) Balance at March 31, 2022 $ 7,229 $ 852 $ 8,081 Within the states and political subdivisions available-for-sale debt securities category, the Company held two mortgage revenue bonds issued by the City & County of Honolulu had an aggregate fair value of $6.6 million at March 31, 2023 and remained relatively unchanged from $6.6 million at December 31, 2022. Within the other MBS non-agency category, the Company held two mortgage backed bonds issued by Habitat for Humanity with an aggregate fair value of $0.7 million at March 31, 2023 and also remained relatively unchanged from $0.7 million at December 31, 2022. The Company estimates the aggregate fair value of $7.3 million and $7.3 million as of March 31, 2023 and December 31, 2022 , respectively, by using a discounted cash flow model to calculate the present value of estimated future principal and interest payments. The significant unobservable input used in the fair value measurement of the Company's City & County of Honolulu mortgage revenue bonds and Habitat for Humanity mortgage backed bonds is the weighted-average discount rate. As of March 31, 2023, the weighted average discount rate utilized wa s 6.15%, compared to 6.41% at December 31, 2022, which was derived by incorporating a credit spread over the FHLB Fixed-Rate Advance curve. Significant increases (decreases) in the weighted-average discount rate could result in a significantly lower (higher) fair value measurement. There were no assets measured on a nonrecurring basis as of March 31, 2023 and December 31, 2022.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	3 Months Ended
	Mar. 31, 2023
Legal Proceedings [Abstract]
LEGAL PROCEEDINGS	17. LEGAL PROCEEDINGSWe are involved in legal proceedings that arise in the ordinary course of our business. The outcome of these matters and the timing of ultimate resolution is inherently difficult to predict. Based on information currently available to us, we do not expect that the ultimate costs to resolve these matters will have a material adverse effect on our financial condition or operations.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of Central Pacific Financial Corp. and Subsidiaries (herein referred to as the "Company," "we," "us," or "our") have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These interim condensed consolidated financial statements and notes should be read in conjunction with the Company's consolidated financial statements and notes thereto filed on Form 10-K for the fiscal year ended December 31, 2022. In the opinion of management, all adjustments necessary for a fair presentation have been made and include all normal recurring adjustments. Interim results of operations are not necessarily indicative of results to be expected for the year.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. In January 2020, we acquired a 50% ownership interest in a mortgage loan origination and brokerage company, Oahu HomeLoans, LLC. The bank concluded that the entity met the definition of a variable interest entity ("VIE") and that the Bank was the primary beneficiary of the VIE. As a result, the investment met the consolidation requirements under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 810, "Consolidation." Accordingly, the investment has been consolidated into our financial statements. In March 2022, Oahu HomeLoans, LLC was terminated. The Company has 50% ownership interests in three other mortgage loan origination and brokerage companies, which are accounted for using the equity method and are included in investment in unconsolidated entities: Gentry HomeLoans, LLC, Haseko HomeLoans, LLC and Island Pacific HomeLoans, LLC. The Company has low income housing tax credit partnership investments that are accounted for under the proportional amortization method and are included in investment in unconsolidated entities. During the first quarter of 2022, the Company invested $2.0 million in Swell Financial, Inc. ("Swell"), a new fintech company, which included $1.5 million in other intangible assets and services provided in exchange for Swell non-voting common stock and $0.5 million in cash in exchange for Swell preferred stock. During the fourth quarter of 2022, Swell launched a consumer banking application that combines checking, credit and more into one integrated account, with Central Pacific Bank serving as the bank sponsor. Swell began with an alpha pilot, where members of its waitlist were invited to sign up for Swell Cash and Credit. In addition, the Company is also collaborating with Swell and Elevate Credit, Inc. (NYSE: ELVT), a provider of digital solutions. In the first quarter of 2023, Elevate was acquired by Park Cities Asset Management, LLC, who is also the largest investor in Swell.The Company does not have the ability to exercise significant influence over Swell and the investment does not have a readily determinable fair value. As a result, the Company determined that the cost method of accounting for the investment was appropriate. The investment is included in investments in unconsolidated entities. In 2021, the Company committed $2.0 million to the JAM FINTOP Banktech Fund, L.P., an investment fund designed to help develop and accelerate technology adoption at community banks across the United States. The Company does not have the ability to exercise significant influence over the JAM FINTOP Banktech Fund, L.P. and the investment does not have a readily determinable fair value. As a result, the Company determined that that the cost method for the investment was appropriate. The investment is included in investment in unconsolidated entities. The Company had $1.1 million and $1.3 million in unfunded commitments related to the investment as of March 31, 2023 and December 31, 2022, respectively. The Company also has other non-controlling equity investments in affiliates that are accounted for under the cost method and are included in investment in unconsolidated entities. Investments in unconsolidated entities accounted for under the equity, proportional amortization and cost methods were $0.1 million, $40.2 million and $5.6 million, respectively, at March 31, 2023 and $0.1 million, $40.9 million and $5.6 million, respectively, at December 31, 2022. The Company's policy for determining impairment of these investments includes an evaluation of whether a loss in value of an investment is other-than-temporary. Evidence of a loss in value includes absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain an earnings capacity, which would justify the carrying amount of the investment. Impairment tests are performed whenever indicators of impairment are present. If the value of an investment declines and it is considered other-than-temporary, the investment is written down to its respective fair value in the period in which this determination is made. The Company sponsors the Central Pacific Bank Foundation, which is not consolidated in the Company's financial statements.
Investment Securities	Investment Securities Investments in debt securities are designated as trading, available-for-sale ("AFS"), or held-to-maturity ("HTM"). Investments in debt securities are designated as HTM only if we have the positive intent and ability to hold these securities to maturity. HTM securities are reported at amortized cost in the consolidated balance sheets. Trading securities are reported at fair value, with changes in fair value included in net income. Debt securities not classified as HTM or trading are classified as AFS and are reported at fair value, with net unrealized gains and losses, net of applicable taxes, excluded from net income and included in accumulated other comprehensive income (loss) ("AOCI"). Transfers of investment securities from AFS to HTM are accounted for at fair value as of the date of the transfer. The difference between the fair value and the par value at the date of transfer is considered a premium or discount and is accounted for accordingly. Any unrealized gain or loss at the date of the transfer is reported in AOC and amortized over the remaining life of the security as an adjustment of yield in a manner consistent with the amortization of any premium or discount, which will offset or mitigate the effect on interest income of the amortization of the premium or discount for that HTM security. Equity securities with readily determinable fair values are carried at fair value, with changes in fair value included in net income. Equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or a similar investment. The Company classifies its investment securities portfolio into the following major security types: mortgage-backed securities ("MBS"), other debt securities and equity securities. The Company’s MBS portfolio is comprised primarily of residential MBS issued by United States of America ("U.S.") government entities and agencies. These securities are either explicitly or implicitly guaranteed by an agency of the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. The remainder of the MBS portfolio are commercial MBS issued by U.S government entities and agencies (with no minimum credit rating), non-agency residential MBS (with a minimum credit rating of AAA) and non-agency commercial MBS (with a minimum credit rating of BBB and meets the minimum internal credit guidelines). The Company’s other debt securities portfolio is comprised of obligations issued by U.S. government entities and agencies, obligations issued by states and political subdivisions (with a minimum credit rating of BBB), and corporate bonds (with a minimum credit rating of BBB-). Interest income on investment securities includes amortization of premiums and accretion of discounts. We amortize premiums and accrete discounts using the effective interest method over the life of the respective security instrument. Gains and losses on the sale of investment securities are recorded on the trade date and determined using the specific identification method. A debt security is placed on nonaccrual status at the time any principal or interest payments become 90 days delinquent. Interest accrued but not received for a security placed on non-accrual status is reversed against current period interest income. There were no investment securities on nonaccrual status as of March 31, 2023 and the Company did not reverse any accrued interest against interest income during the three months ended March 31, 2023. Allowance for Credit Losses (“ACL”) for AFS Debt Securities AFS debt securities in an unrealized loss position are evaluated for impairment at least quarterly. For AFS debt securities in an unrealized loss position, the Company first assesses whether or not it intends to sell, or if it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the investment security’s amortized cost basis is written down to fair value through net income. For AFS debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In conducting this assessment for debt securities in an unrealized loss position, management evaluates the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the investment security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an ACL is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an ACL is recognized in AOCI. Changes in the ACL are recorded as a provision for (or reversal of) credit losses. Losses are charged against the ACL when management believes the uncollectibility of an AFS debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met. As of March 31, 2023, the decline in market values of our AFS debt securities was primarily attributable to changes in interest rates and volatility in the financial markets. We have no intent to sell securities in an unrealized loss position and it is unlikely we will be required to sell such securities before recovery of its amortized cost basis. Therefore, we did not record any ACL as a result of credit loss. The Company has made a policy election to exclude accrued interest receivable from the amortized cost basis of debt securities and report accrued interest receivable ACL for HTM Debt Securities Management measures expected credit losses on HTM debt securities on a collective basis by major security type. For pools of such securities with common risk characteristics, the historical lifetime probability of default and severity of loss in the event of default is derived or obtained from external sources. Expected credit losses for these securities are estimated using a loss rate methodology, which considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. Expected credit loss on each security in the HTM portfolio that do not share common risk characteristics with any of the pools of debt securities is individually measured based on net realizable value, or the difference between the discounted value of the expected future cash flows, based on the original effective interest rate, and the recorded amortized cost basis of the security. Securities in the HTM portfolio are issued by or contain collateral issued by U.S. government sponsored enterprises ("GSEs") and carry implicit guarantees from the U.S. government. Due to the implicit guarantee and the long history of no credit losses, no allowance for credit losses was recorded for these securities. Accrued interest on HTM debt securities is reported in accrued interest receivable Accrued interest receivable on HTM debt securities totaled $1.3 million and $1.3 million as of March 31, 2023 and December 31, 2022, respectively. Federal Home Loan Bank Stock As a member of the Federal Home Loan Bank of Des Moines (the "FHLB"), the bank is required to obtain and hold a specific number of shares of FHLB capital stock equal to the sum of a membership investment requirement and an activity-based investment requirement. The securities are reported at cost and are presented separately in the consolidated balance sheets.
Loans	Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost, net of the ACL. Amortized cost is the unpaid principal amount outstanding, net of unamortized purchase premiums and discounts, unamortized deferred loan origination fees and costs and cumulative principal charge-offs. Purchase premiums and discounts are generally amortized into interest income over the contractual terms of the underlying loans using the effective interest method. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income over the life of the related loan as an adjustment to the yield and typically amortized using the interest method over the contractual term of the loan, adjusted for actual prepayments. Deferred loan fees and costs on loans paid in full are recognized as a component of interest income on loans. Interest income on loans is accrued at the contractual rate of interest on the unpaid principal balance. Accrued interest receivable on loans totaled $16.3 million and $16.0 million at March 31, 2023 and December 31, 2022, respectively, and is reported together with accrued interest on HTM and AFS debt securities “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” the Company made the accounting policy election to not measure an estimate of credit losses on accrued interest receivable as the Company writes off any uncollectible accrued interest receivable in a timely manner. Nonaccrual Loans The Company determines delinquency status by considering the number of days full payments required by the contractual terms of the loan are past due. Commercial, scored small business, automobile and other consumer loans are generally placed on nonaccrual status when principal and/or interest payments are 90 days past due, or earlier should management determine that the borrowers will be unable to meet contractual principal and/or interest obligations, unless the loans are well-secured and in the process of collection. Residential mortgage and home equity loans, are generally placed on nonaccrual status when principal and/or interest payments are 120 days past due, or earlier should management determine that the borrowers will be unable to meet contractual principal and/or interest obligations, unless the loans are well-secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income should management determine that the collectability of such accrued interest is doubtful. All subsequent receipts are applied to principal outstanding and no interest income is recognized unless the financial condition and payment record of the borrowers warrant such recognition and the loan is restored to accrual status. A nonaccrual loan may be restored to an accrual basis when principal and interest payments are current for a predetermined period, normally at least six months, and full payment of principal and interest is reasonably assured. Troubled Debt Restructuring (“TDR”) Prior to the Adoption of ASU 2022-02 The Company adopted ASU No. 2022-02, "Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures", using the prospective transition method. Thus, the Company will continue to account for existing TDRs under the TDR accounting guidance and all new loan modifications will be accounted for under the new loan modification accounting model as described in Note 2 - Recent Accounting Pronouncements. Prior to the adoption of ASU 2022-02, on January 1, 2023, the Company accounted for and reported a loan as a TDR when two conditions were met: 1) the borrower was experiencing financial difficulty and 2) the Company granted a concession to the borrower experiencing financial difficulty that it would not otherwise consider for a borrower or transaction with similar credit risk characteristics. A restructuring that resulted in only an insignificant delay in payment was not considered a concession. A delay may have been considered insignificant if 1) the payments subject to the delay were insignificant relative to the unpaid principal or collateral value and the contractual amount due or 2) the delay in timing of the restructured payment period was insignificant relative to the frequency of payments, the debt’s original contractual maturity or original expected duration. TDRs that were performing and on accrual status as of the date of the modification remained on accrual status. TDRs that were nonperforming as of the date of modification generally remained as nonaccrual until the prospect of future payments in accordance with the modified loan agreement was reasonably assured and generally demonstrated when the borrower maintained compliance with the restructured terms for a predetermined period of at least six months. TDRs with temporary below-market concessions remained designated as a TDR regardless of the accrual or performance status until the loan was paid off.
ACL for Loans	ACL for Loans Under the current expected credit loss methodology, the ACL for loans is a valuation account that is deducted from the loans’ amortized cost basis to present the net amount expected to be collected on the loans. Our policy is to charge off a loan during the period in which the loan is deemed to be uncollectible and all interest previously accrued, but not collected is reversed against current period interest income. We consider a loan to be uncollectible when it is probable that a loss will be incurred and the Company can make a reasonable estimate of the loss. In these instances, the likelihood and/or time frame of recovery for the amount due is uncertain, weak, or protracted. Subsequent receipts, if any, are credited first to the remaining principal, then to the ACL for loans as recoveries, and finally to unaccrued interest. The ACL for loans represents management's estimate of all expected credit losses over the expected life of our existing loan portfolio. Management estimates the ACL balance using relevant available information about the collectability of cash flows, from internal and external sources, including historical information relating to past events, current conditions, and reasonable and supportable forecasts of future economic conditions. When the Company is unable to forecast future economic events, management may revert to historical information. The Company's methodologies incorporate a reasonable and supportable forecast period of one year and revert to historical loss information on a straight-line basis over one year when its forecast is no longer deemed reasonable and supportable. The Company maintains an ACL at an appropriate level as of a given balance sheet date to absorb management’s best estimate of expected life of loan credit losses. Historical credit loss experience provides the basis for the Company’s expected credit loss estimate. Adjustments to historical loss information may be made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, or when historical asset terms do not reflect the contractual terms of the financial assets being evaluated. The ACL methodology may also consider other adjustments to address changes in conditions, trends, and circumstances such as local industry changes that could have a significant impact on the risk profile of the loan portfolio and provide for adjustments that may not be reflected and/or captured in the historical loss data. These factors include: lending policies, imprecision in forecasting future economic conditions, loan profile, lending staff, problem loan trends, loan review, collateral, credit concentration, or other internal and external factors. The Company uses the Moody’s Analytics Baseline forecast service for its economic forecast assumption. The Moody’s Analytics Baseline forecast includes both National and Hawaii specific economic indicators. The Moody’s Analytics forecast service is widely used in the industry as it is reasonable and supportable. It is updated at least monthly with a variety of upside and downside economic scenarios from the Baseline. Generally, the Company will use the most recent Baseline forecast from Moody’s as of the balance sheet date. During times of economic and market volatility or instability, the Company may include a qualitative factor for forecast imprecision that accounts for other potential economic scenarios available by Moody’s Analytics or may apply overrides to its statistical models to enhance the reasonableness of its loss estimates. The ACL is measured on a collective or pool basis when similar risk characteristics exist. The Company segments its portfolio generally by Federal Financial Institutions Examination Council ("FFIEC") Call Report codes. Loan pools are further segmented by risk utilizing the most appropriate risk ratings or bands of payment delinquency (including TDR or non-accrual status) for each segment. Additional sub-segmentation may be utilized to identify groups of loans with unique risk characteristics relative to the rest of the portfolio. The Company relies on a third-party platform that offers multiple methodologies to measure historical life-of-loan losses. The Company has also developed statistical models internally to incorporate future economic conditions and forecast expected credit losses based on various macro-economic indicators such as unemployment and income levels. The Company has identified the following portfolio segments to measure the allowance for credit losses. For all segments the economic forecast length is one year and reversion method is one year. Loan Segment Historical Lifetime Loss Method Historical Economic Reversion Method Construction Probability of Default/Loss Given Default ("PD/LGD") 2008-Present One Year One Year (straight-line basis) Commercial real estate PD/LGD 2008-Present Multi-family mortgage PD/LGD 2008-Present Commercial, financial and agricultural PD/LGD 2008-Present Home equity lines of credit Loss-Rate Migration 2008-Present Residential mortgage Loss-Rate Migration 2008-Present Consumer - other revolving Loss-Rate Migration 2008-Present Consumer - non-revolving Loss-Rate Migration 2008-Present Purchased Mainland portfolios (Dealer, Other consumer) Weighted-Average Remaining Maturity ("WARM") 2008-Present Below is a description and the risk characteristics of each segment: Construction loans Construction loans include both residential and commercial development projects. Each construction project is evaluated for economic viability and construction loans pose higher credit risks than typical secured loans. Financial strength of the borrower, completion risk (the risk that the project will not be completed on time and within budget) and geographic location are the predominant risk characteristics of this segment. Commercial real estate loans Commercial real estate loans are secured by commercial properties. The predominant risk characteristic of this segment is operating risk, which is the risk that the borrower will be unable to generate sufficient cash flows from the operation of the property. Interest rate conditions and the commercial real estate market through economic cycles also impact risk levels. Multi-family mortgage loans Multi-family mortgage loans can comprise multi-building properties with extensive amenities to a single building with no amenities. The primary risk characteristic of this segment is operating risk or the ability to generate sufficient rental cash flows from the operation of the property. Commercial, financial and agricultural loans Commercial, financial and agricultural loans consist primarily of term loans and lines of credit to small and middle-market businesses and professionals. The predominant risk characteristics of this segment are the cash flows of the business we lend to, global cash flows including guarantor liquidity, as well as economic and market conditions. Although our underwriting policy and practice generally requires secondary sources of support or collateral to mitigate risk, the borrower’s business is typically regarded as the principal source of repayment. Paycheck Protection Program (“PPP”) loans are also in this category and are considered lower risk as they are guaranteed by the Small Business Administration (“SBA”) and may be forgivable in whole or in part in accordance with the requirements of the PPP. Residential mortgage loans Residential mortgage loans include fixed-rate and adjustable-rate loans secured by single family owner-occupied primary residences in Hawaii. Economic conditions such as unemployment levels, future changes in interest rates, Hawaii home prices and other market factors impact the level of credit risk inherent in the portfolio. Home equity lines of credit Home equity lines of credit include fixed or floating interest rate loans and are primarily secured by single family owner-occupied primary residences in Hawaii. They are underwritten based on a minimum FICO score, maximum debt-to-income ratio, and maximum combined loan-to-value ratio. Home equity lines of credit are monitored based on credit score, delinquency, end of draw period and maturity. Consumer loans - other revolving This segment consists of consumer unsecured lines of credit. Its predominant risk characteristics relate to current and projected economic conditions as well as employment and income levels attributed to the borrower. Consumer loans - non-revolving This segment consists of consumer non-revolving (term) loans, including auto dealer loans. Its predominant risk characteristics relate to current and projected economic conditions as well as employment and income levels attributed to the borrower. Purchased consumer portfolios Credit risk for purchased consumer loans is managed on a pooled basis. The predominant risk characteristics of purchased consumer loans include current and projected economic conditions, employment and income levels, and the quality of purchased consumer loans. Below is a description of the methodologies mentioned above: Probability of Default/Loss Given Default ("PD/LGD") The PD/LGD calculation is based on a cohort methodology whereby loans in the same cohort are tracked over time to identify defaults and corresponding losses. PD/LGD analysis requires a portfolio segmented into pools, and we elected to then further sub-segment by risk characteristics suc h as Risk Rating, loans modified for borrowers experiencing financial difficulty, TDRs prior to the adoption of ASU 2022-02 and nonaccrual status to measure losses accurately. PD measures the count or dollar amount of loans that defaulted in a given cohort. LGD measures the losses related to the loans that defaulted. Total loss rate is calculated using the formula 'PD times LGD'. Loss-Rate Migration Loss-rate migration analysis is a cohort-based approach that measures cumulative net charge-offs over a defined time-horizon to calculate a loss rate that will be applied to the loan pool. Loss-rate migration analysis requires the portfolio to be segmented into pools then further sub-segmented by risk characteristics such as days past due, delinquency counters, loans modified for borrowers experiencing financial difficulty, TDRs prior to the adoption of ASU 2022-02 and nonaccrual status to measure loss rates accurately. The key inputs to run a loss-rate migration analysis are the length and frequency of the migration period, the dates for the migration periods to start and the number of migration periods used for the analysis. For each migration period, the analysis will determine the outstanding balance in each segment and/or sub-segment at the start of each period. These loans will then be followed for the length of the migration period to identify the amount of associated charge-offs and recoveries. A loss rate for each migration period is calculated using the formula 'net charge-offs over the period divided by beginning loan balance'. Weighted-Average Remaining Maturity ("WARM") Under the WARM methodology, lifetime losses are calculated by determining the remaining life of the loan pool and then applying a loss rate which includes a forecast component over this remaining life of the loan. The methodology considers historical loss experience and a loss forecast expectation to estimate credit losses for the remaining balance of the loan pool. The calculated loss rate is applied to the contractual term (adjusted for prepayments) to determine the loan pool’s current expected credit losses. Other If a loan ceases to share similar risk characteristics with other loans in its segment, it will be moved to a different pool sharing similar risk characteristics. Loans that do not share risk characteristics are evaluated on an individual basis based on the fair value of the collateral or other approaches such as the discounted cash flow (“DCF”) method. Individually evaluated loans are not included in the collective evaluation. Determining the Term Expected credit losses are estimated over the contractual term of the loans and are adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: 1) management has a reasonable expectation at the reporting date that a modification will be executed with an individual borrower or 2) the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Company. If such renewal options or extensions are present, these options are evaluated in determining the contractual term.
Reserve for Off-Balance Sheet Credit Exposures	Reserve for Off-Balance Sheet Credit Exposures The Company maintains a separate and distinct reserve for off-balance sheet credit exposures, which is included in other liabilities on the Company’s consolidated balance sheets. The Company estimates the amount of expected losses (excluding commitments identified as unconditionally cancellable) by calculating a commitment usage factor for letters of credit, non-revolving lines of credit, and revolving lines of credit over the remaining life during which the Company is exposed to credit risk via a contractual obligation to extend credit. Letters of credit are generally unlikely to advance since they are typically in place only to ensure various forms of performance of the borrowers. Many of the letters of credit are cash secured. Non-revolving lines of credit are determined to be likely to advance as these are typically construction lines. Meanwhile, the likelihood of revolving lines of credit advancing varies with each individual borrower. Therefore, the future usage of each line was estimated based on the average line utilization of the revolving line of credit portfolio as a whole. The reserve for off-balance sheet credit exposures also applies the loss factors for each loan type used in the ACL for loans methodology, which is based on historical losses, economic conditions and reasonable and supportable forecasts. Changes in the reserve for off-balance sheet credit exposures is recorded as a provision for credit losses on off-balance sheet credit exposures, which is included in the provision for credit losses on the Company's statement of income.
Accounting Standards Adopted in 2023 and Impact of Other Recently Issued Accounting Pronouncements on Future Filings	Accounting Standards Adopted in 2023 In March 2022, the FASB issued ASU No. 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method", which clarifies the guidance on fair value hedge accounting of interest rate risk portfolios of financial assets. ASU 2022-01 updates guidance in Topic 815, to expand the scope of the current last-of-layer method to allow multiple hedged layers to be designated for a single closed portfolio of financial assets or one or more beneficial interests secured by a portfolio of financial instruments on a prospective basis. Additionally, ASU 2022-01 clarifies that basis adjustments related to existing portfolio layer hedge relationships should not be considered when measuring credit losses on the financial assets included in the closed portfolio. Further, ASU 2022-01 clarifies that any reversal of fair value hedge basis adjustments associated with an actual breach should be recognized in interest income immediately. ASU 2022-01 was effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company adopted ASU 2022-01 effective January 1, 2023 and it did not have an impact on our consolidated financial statements as we currently do not use the last-of-layer hedge accounting method. In March 2022, the FASB issued ASU No. 2022-02, "Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" . ASU 2022-02 updates guidance in Topic 326 to eliminate the TDR accounting guidance by creditors in Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Instead of applying the recognition and measurement guidance for TDRs, an entity would apply the loan refinancing and restructuring guidance to determine whether a modification or other form of restructuring results in a new loan or a continuation of an existing loan. Additionally, the amendments in ASU 2022-02 require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases in the existing vintage disclosures within the scope of Subtopic 326-20, Financial Instruments—Credit Losses—Measured at Amortized Cost . ASU 2022-02 was effective for fiscal years beginning after December 15, 2022, with early adoption permitted. ASU 2022-02 requires prospective transition for disclosures related to loan restructurings for borrowers experiencing financial difficulty and the presentation of current-period gross write-offs by year of origination while removing the presentation of current-period recoveries and net write-off from the vintage disclosure for charge-offs. The guidance related to the recognition and measurement of existing TDRs and new loan modifications or restructurings may be adopted on a prospective or modified retrospective transition method. The Company adopted ASU 2022-02 effective January 1, 2023 using the prospective transition method. As of our adoption date, loan modifications or restructurings for borrowers experiencing financial difficulty are evaluated to determine whether they result in a new loan or a continuation of an existing loan. Loan restructurings for borrowers experiencing financial difficulty are generally accounted for as a continuation of the existing loan as the terms of the restructured loans are typically not at market rates. At adoption of this guidance on January 1, 2023, there was no material impact on our financial statements. When a loan is restructured under ASU 2022-02, we continue to measure impairment on the loan using the discounted cash flow method that utilizes a prepayment-adjusted discount rate based on the loan’s restructured terms. Under the TDR accounting model, we used the discount rate that was in effect prior to the restructuring to measure impairment. Using the interest rate that was in effect prior to the restructuring resulted in the recognition, in the allowance for credit losses, of the economic concession that we granted to borrowers as part of the loan restructuring. Using a post-restructuring interest rate does not result in the recognition of an economic concession in the allowance for credit losses. As we have elected a prospective transition, the economic concession on a loan that was previously restructured and accounted for as a TDR will continue to be measured in our allowance for credit losses using the discount rate that was in effect prior to the restructuring and the economic concession may increase or decrease as we update our cash flow assumptions related to the expected life of the loan. Further, the component of the allowance for credit losses representing economic concessions will decrease as the borrower makes payments in accordance with the restructured terms of the mortgage loan and as the loan is sold, liquidated, or subsequently restructured. We adopted the disclosure guidance related to the presentation of gross write-offs by year of origination in our vintage disclosures on January 1, 2023. Impact of Other Recently Issued Accounting Pronouncements on Future Filings In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848)." This ASU provides optional expedients and exceptions for contracts, hedging relationships, and other transactions that reference LIBOR or other reference rates expected to be discontinued because of reference rate reform. Entities can (1) elect not to apply certain modification accounting requirements to contracts affected by reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Entities can also (2) elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. Finally, entities can (3) make a one-time election to sell and/or reclassify held-to-maturity (“HTM”) debt securities that reference an interest rate affected by reference rate reform. In January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform (Topic 848)," which clarifies that all derivative instruments affected by the changes to interest rates used for discounting, margining or contract price alignment, regardless of whether they reference LIBOR or another rate expected to be discontinued as a result of reference rate reform, an entity may apply certain practical expedients in Topic 848. ASU 2020-04 and 2021-01 are elective and can be adopted between March 12, 2020 and December 31, 2022. In December 2022, the FASB issued ASU 2022-06, "Deferral of the Sunset Date of Topic 848", which extends the temporary relief provision period and allows companies to defer the adoption to December 31, 2024. The Company will elect optional expedients above for applicable contract modifications and hedge accounting for hedging relationships that meet the stated criteria. The Company does not expect the adoption of this pronouncement to have a material impact on the consolidated financial statements. In June 2022, the FASB issued ASU 2022-03, "Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions" . ASU 2022-03, (1) clarifies the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security, (2) amends a related illustrative example, and (3) introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. ASU 2022-03 is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permitted. The Company is in the process of evaluating the impact of this pronouncement on the consolidated financial statements.
Revenue Recognition	Revenue Recognition Accounting Standards Codification ("ASC") 606, "Revenue from Contracts with Customers" , establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity's contracts to provide goods or services to its customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services. Revenue is recognized as performance obligations are satisfied. The Company recognizes revenues as they are earned based on contractual terms, as transactions occur, or as services are provided and collectability is reasonably assured. Our principal source of revenue is derived from interest income on financial instruments, such as our loan and investment securities portfolios, as well as revenue related to our mortgage banking activities. These revenue-generating transactions are out of scope of ASC 606, but are subject to other GAAP and discussed elsewhere within our disclosures. The Company also generates other revenue in connection with our broad range of banking products and financial services. Descriptions of our other revenue-generating activities that are within the scope of ASC 606, which are presented in the Company's consolidated statements of income as components of other operating income are as follows: Mortgage banking income Loan placement fees, included in mortgage banking income, primarily represent revenues earned by the Company for loan placement and underwriting. Revenues for these services are recorded at a point-in-time, upon completion of a contractually identified transaction, or when an advisory opinion is provided. Service charges on deposit accounts Revenue from service charges on deposit accounts includes general service fees for monthly account maintenance and activity- or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed, which is generally monthly for account maintenance services or when a transaction has been completed (such as stop payment fees). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. Other Service Charges and Fees Revenue from other service charges and fees includes fees on foreign exchange, cards and payments income, safe deposit rental income and other service charges, commissions and fees. The Company provides foreign currency exchange services to customers, whereby cash can be converted to different foreign currencies, and vice versa. As a result of the services, a gain or loss is recognized on foreign currency transactions, as well as income related to commissions and fees earned on each transaction. Revenue from the commissions and fees earned on the transactions fall within the scope of ASC 606, and is recorded in a manner that reflects the timing of when transactions occur, and as services are provided. Realized and unrealized gains or losses related to foreign currency are out of scope of ASC 606. Cards and payments income includes interchange fees from debit cards processed through card association networks, merchant services, and other card related services. Interchange rates are generally set by the credit card associations and based on purchase volumes and other factors. Interchange fees are recognized as transactions occur. Interchange expenses related to cards and payments income are presented gross in other operating expense. Merchant services income represents account management fees and transaction fees charged to merchants for the processing of card association network transactions. Merchant services revenue is recognized as transactions occur, or as services are performed. Other service charges, commissions and fees include automated teller machines ("ATM") surcharge and interchange fees, bill payment fees, cashier’s check and money order fees, wire transfer fees, loan brokerage fees, and commissions on sales of insurance, broker-dealer products, and letters of credit. Revenue from these fees and commissions is recorded in a manner that reflects the timing of when transactions occur, and as services are provided. Based on the nature of the commission agreement with the broker-dealer and each insurance provider, we may recognize revenue from broker-dealer and insurance commissions over time or at a point-in-time as our performance obligation is satisfied. Income from Fiduciary Activities Income from fiduciary activities includes fees from wealth management, trust, custodial and escrow services provided to individual and institutional customers. Revenue is generally recognized monthly based on a minimum annual fee and/or the market value of assets in custody. Additional fees are recognized for transactional activity. Revenue from trade execution and brokerage services is earned through commissions from trade execution on behalf of clients. Revenue from these transactions is recognized at the trade date. Any ongoing service fees are recognized on a monthly basis as services are performed. Net Gain (Loss) on Sales of Foreclosed Assets The Company records a gain or loss on the sale of a foreclosed property when control of the property transfers to the Company, which typically occurs at the time the deed is executed. The Company does not finance the sale of the foreclosed property.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Financing Receivable Portfolio Segments	Loan Segment Historical Lifetime Loss Method Historical Economic Reversion Method Construction Probability of Default/Loss Given Default ("PD/LGD") 2008-Present One Year One Year (straight-line basis) Commercial real estate PD/LGD 2008-Present Multi-family mortgage PD/LGD 2008-Present Commercial, financial and agricultural PD/LGD 2008-Present Home equity lines of credit Loss-Rate Migration 2008-Present Residential mortgage Loss-Rate Migration 2008-Present Consumer - other revolving Loss-Rate Migration 2008-Present Consumer - non-revolving Loss-Rate Migration 2008-Present Purchased Mainland portfolios (Dealer, Other consumer) Weighted-Average Remaining Maturity ("WARM") 2008-Present

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of available for sale and held to maturity investment securities	The amortized cost, fair value and related ACL, and corresponding gross unrecognized or unrealized gains and losses on HTM and AFS debt securities at March 31, 2023 and December 31, 2022 are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value ACL (dollars in thousands) March 31, 2023 Held-to-maturity: Debt securities: States and political subdivisions $ 41,867 $ — $ (4,746) $ 37,121 $ — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 616,729 145 (54,695) 562,179 — Total held-to-maturity securities $ 658,596 $ 145 $ (59,441) $ 599,300 $ — Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value ACL (dollars in thousands) March 31, 2023 Available-for-sale: Debt securities: States and political subdivisions $ 170,628 $ 26 $ (31,133) $ 139,521 $ — Corporate securities 36,087 — (4,990) 31,097 — U.S. Treasury obligations and direct obligations of U.S. Government agencies 26,533 5 (2,195) 24,343 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 488,550 — (67,066) 421,484 — Residential - Non-government agencies 9,614 — (977) 8,637 — Commercial - U.S. Government-sponsored entities 53,597 — (7,797) 45,800 — Commercial - Non-government agencies 16,497 — (191) 16,306 — Total available-for-sale securities $ 801,506 $ 31 $ (114,349) $ 687,188 $ — Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value ACL (dollars in thousands) December 31, 2022 Held-to-maturity: Debt securities: States and political subdivisions $ 41,840 $ — $ (4,727) $ 37,113 $ — Corporate securities — — — — — U.S. Treasury obligations and direct obligations of U.S. Government agencies — — — — — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 623,043 — (63,376) 559,667 — Residential - Non-government agencies — — — — — Commercial - U.S. Government-sponsored entities — — — — — Commercial - Non-government agencies — — — — — Total held-to-maturity securities $ 664,883 $ — $ (68,103) $ 596,780 $ — Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value ACL (dollars in thousands) December 31, 2022 Available-for-sale: Debt securities: States and political subdivisions $ 172,427 $ 6 $ (36,681) $ 135,752 $ — Corporate securities 36,206 — (5,995) 30,211 — U.S. Treasury obligations and direct obligations of U.S. Government agencies 28,032 — (2,317) 25,715 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 498,989 — (75,186) 423,803 — Residential - Non-government agencies 9,829 — (1,167) 8,662 — Commercial - U.S. Government-sponsored entities 54,346 — (8,202) 46,144 — Commercial - Non-government agencies 1,541 — (34) 1,507 — Total available-for-sale securities $ 801,370 $ 6 $ (129,582) $ 671,794 $ —
Schedule of amortized cost and estimated fair value of investment securities by contractual maturity	The amortized cost, estimated fair value and weighted average yield of our HTM and AFS debt securities at March 31, 2023, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. (dollars in thousands) Amortized Cost Fair Value Weighted Average Yield (1) Held-to-maturity: Debt securities: Due in one year or less $ — $ — — % Due after one year through five years — — — Due after five years through ten years — — — Due after ten years 41,867 37,121 2.26 Mortgage-backed securities: Residential - U.S. Government-sponsored entities 616,729 562,179 1.94 Total held-to-maturity securities $ 658,596 $ 599,300 1.96 % Available-for-sale: Debt securities: Due in one year or less $ 5,185 $ 5,171 3.01 % Due after one year through five years 16,601 16,323 3.90 Due after five years through ten years 76,927 69,210 2.68 Due after ten years 134,535 104,257 2.48 Mortgage-backed securities: Residential - U.S. Government-sponsored entities 488,550 421,484 2.04 Residential - Non-government agencies 9,614 8,637 3.32 Commercial - U.S. Government-sponsored entities 53,597 45,800 2.35 Commercial - Non-government agencies 16,497 16,306 5.05 Total available-for-sale securities $ 801,506 $ 687,188 2.33 % (1) Weighted-average yields are computed on an annual basis, and yields on tax-exempt obligations are computed on a taxable-equivalent basis using a federal statutory tax rate of 21%
Schedule of investment securities in an unrealized loss position	Th e following tables summarize HTM and AFS investment securities, which were in an unrecognized or unrealized loss position at March 31, 2023 and December 31, 2022, aggregated by major security type and length of time in a continuous unrecognized or unrealized loss position. Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses March 31, 2023 Held-to-maturity: Debt securities: States and political subdivisions $ — $ — $ 37,121 $ (4,746) $ 37,121 $ (4,746) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 305,007 (20,724) 237,643 (33,971) 542,650 (54,695) Total temporarily impaired securities $ 305,007 $ (20,724) $ 274,764 $ (38,717) $ 579,771 $ (59,441) Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2023 Available-for-sale: Debt securities: States and political subdivisions $ 13,008 $ (307) $ 114,337 $ (30,826) $ 127,345 $ (31,133) Corporate securities — — 31,097 (4,990) 31,097 (4,990) U.S. Treasury obligations and direct obligations of U.S Government agencies 5,749 (140) 17,011 (2,055) 22,760 (2,195) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 9,673 (240) 411,811 (66,826) 421,484 (67,066) Residential - Non-government agencies 2,843 (274) 5,795 (703) 8,638 (977) Commercial - U.S. Government-sponsored entities — — 45,800 (7,797) 45,800 (7,797) Commercial - Non-government agencies 16,306 (191) — — 16,306 (191) Total temporarily impaired securities $ 47,579 $ (1,152) $ 625,851 $ (113,197) $ 673,430 $ (114,349) Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses December 31, 2022 Held-to-maturity: Debt securities: States and political subdivisions $ 37,113 $ (4,727) $ — $ — $ 37,113 $ (4,727) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 559,667 (63,376) — — 559,667 (63,376) Total temporarily impaired securities $ 596,780 $ (68,103) $ — $ — $ 596,780 $ (68,103) Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2022 Available-for-sale: Debt securities: States and political subdivisions $ 52,244 $ (4,807) $ 78,389 $ (31,874) $ 130,633 $ (36,681) Corporate securities — — 30,211 (5,995) 30,211 (5,995) U.S. Treasury obligations and direct obligations of U.S Government agencies 9,651 (245) 15,541 (2,072) 25,192 (2,317) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 149,624 (13,990) 274,179 (61,196) 423,803 (75,186) Residential - Non-government agencies 2,890 (334) 5,772 (833) 8,662 (1,167) Commercial - U.S. Government-sponsored entities 25,034 (1,724) 21,110 (6,478) 46,144 (8,202) Commercial - Non-government agencies 1,506 (34) — — 1,506 (34) Total temporarily impaired securities $ 240,949 $ (21,134) $ 425,202 $ (108,448) $ 666,151 $ (129,582)

LOANS AND CREDIT QUALITY (Table

LOANS AND CREDIT QUALITY (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Schedule of loans and leases, excluding loans held for sale	The following table presents loans by class, excluding loans held for sale, net of ACL as of March 31, 2023 and December 31, 2022: (dollars in thousands) March 31, 2023 December 31, 2022 Commercial, financial and agricultural: Small Business Administration Paycheck Protection Program $ 1,883 $ 2,654 Other 555,508 544,495 Real estate: Construction 182,091 167,366 Residential mortgage 1,940,639 1,940,456 Home equity 741,894 737,386 Commercial mortgage 1,363,507 1,364,998 Consumer 772,424 798,957 Gross loans 5,557,946 5,556,312 Net deferred fees (549) (846) Total loans, net of deferred fees and costs 5,557,397 5,555,466 Allowance for credit losses (63,099) (63,738) Total loans, net of allowance for credit losses $ 5,494,298 $ 5,491,728
Financing Receivable, Purchased With Credit Deterioration	The following table presents loans purchased by class during the periods presented: (dollars in thousands) U.S. Mainland Consumer - Unsecured U.S. Mainland Consumer - Automobile Total Three Months Ended March 31, 2023 Purchases: Outstanding balance $ 3,780 $ 15,159 $ 18,939 (Discount) premium — 568 568 Purchase price $ 3,780 $ 15,727 $ 19,507 Three Months Ended March 31, 2022 Purchases: Outstanding balance $ 48,142 $ 34,024 $ 82,166 (Discount) premium (4,367) 1,914 (2,453) Purchase price $ 43,775 $ 35,938 $ 79,713 Note: Purchases of unsecured consumer loans were made under forward flow purchase agreements.
Schedule of recorded investment in loans and leases, by class and credit indicator	The following tables present the amortized cost basis of the Company's loans by class, credit quality indicator and origination year as of March 31, 2023 and December 31, 2022. Revolving loans converted to term as of and during the three months ended March 31, 2023 and 2022 were not material to the total loan portfolio. In addition, the following table includes gross charge-offs of loans by origination year in the three months ended March 31, 2023. (dollars in thousands) Amortized Cost of Term Loans by Year of Origination Amortized Cost of Revolving Loans March 31, 2023 2023 2022 2021 2020 2019 Prior Total Commercial, financial and agricultural - SBA PPP: Risk Rating Pass $ — $ — $ — $ 1,813 $ 8 $ — $ — $ 1,821 Subtotal — — — 1,813 8 — — 1,821 Commercial, financial and agricultural - Other: Risk Rating Pass 15,746 90,848 99,502 39,021 55,061 167,248 76,550 543,976 Special Mention — 1,025 326 158 866 3 — 2,378 Substandard — 198 191 786 223 7,213 99 8,710 Subtotal 15,746 92,071 100,019 39,965 56,150 174,464 76,649 555,064 Construction: Risk Rating Pass — 43,148 67,495 17,634 2,363 31,741 13,141 175,522 Substandard — — 5,264 — 688 — — 5,952 Subtotal — 43,148 72,759 17,634 3,051 31,741 13,141 181,474 Residential mortgage: Risk Rating Pass 27,065 276,052 631,544 430,081 153,042 419,060 — 1,936,844 Substandard — — — 941 — 3,445 — 4,386 Subtotal 27,065 276,052 631,544 431,022 153,042 422,505 — 1,941,230 Home equity: Risk Rating Pass 2,621 34,091 22,823 10,251 7,066 19,154 647,191 743,197 Substandard — — — — 73 638 — 711 Subtotal 2,621 34,091 22,823 10,251 7,139 19,792 647,191 743,908 Commercial mortgage: Risk Rating Pass 6,236 235,341 207,258 118,627 115,426 623,358 8,915 1,315,161 Special Mention — — — — 11,169 13,174 — 24,343 Substandard — — 10,140 — 1,691 10,297 — 22,128 Subtotal 6,236 235,341 217,398 118,627 128,286 646,829 8,915 1,361,632 Consumer: Risk Rating Pass 22,455 347,894 226,217 52,531 44,247 24,122 52,079 769,545 Substandard — 77 365 119 144 834 1 1,540 Loss — — — — — 1,183 — 1,183 Subtotal 22,455 347,971 226,582 52,650 44,391 26,139 52,080 772,268 Total $ 74,123 $ 1,028,674 $ 1,271,125 $ 671,962 $ 392,067 $ 1,321,470 $ 797,976 $ 5,557,397 (dollars in thousands) Gross Charge-Offs by Year of Origination Amortized Cost of Revolving Loans Three Months Ended March 31, 2023 2023 2022 2021 2020 2019 Prior Total Commercial, financial and agricultural: Other $ — $ 144 $ 32 $ — $ 191 $ 412 $ — $ 779 Consumer — 904 1,186 200 180 216 — 2,686 Year-to-date gross charge-offs $ — $ 1,048 $ 1,218 $ 200 $ 371 $ 628 $ — $ 3,465 (dollars in thousands) Amortized Cost of Term Loans by Year of Origination Amortized Cost of Revolving Loans December 31, 2022 2022 2021 2020 2019 2018 Prior Total Commercial, financial and agricultural - SBA PPP: Risk Rating Pass $ — $ 2,546 $ 9 $ — $ — $ — $ — $ 2,555 Subtotal — 2,546 9 — — — — 2,555 Commercial, financial and agricultural - Other: Risk Rating Pass 77,550 101,595 41,358 53,241 39,106 141,950 76,466 531,266 Special Mention 2,206 350 172 1,011 29 — 99 3,867 Substandard 188 176 833 256 116 7,215 30 8,814 Subtotal 79,944 102,121 42,363 54,508 39,251 149,165 76,595 543,947 Construction: Risk Rating Pass 25,663 61,027 23,384 2,387 14,309 18,048 15,044 159,862 Special Mention — 417 — — 898 — — 1,315 Substandard — 4,850 — 696 — — — 5,546 Subtotal 25,663 66,294 23,384 3,083 15,207 18,048 15,044 166,723 Residential mortgage: Risk Rating Pass 279,146 636,756 434,928 154,906 58,431 371,517 — 1,935,684 Substandard — — 948 — 503 3,864 — 5,315 Subtotal 279,146 636,756 435,876 154,906 58,934 375,381 — 1,940,999 Home equity: Risk Rating Pass 34,973 23,772 10,520 7,463 6,880 11,727 643,277 738,612 Special Mention — — — — — — 198 198 Substandard — — — — 78 453 39 570 Subtotal 34,973 23,772 10,520 7,463 6,958 12,180 643,514 739,380 Commercial mortgage: Risk Rating Pass 226,137 208,230 119,531 129,950 145,932 472,267 11,473 1,313,520 Special Mention — — — 11,388 — 16,082 — 27,470 Substandard — 10,149 — 1,700 2,133 8,103 — 22,085 Consumer: Risk Rating Pass 358,609 242,942 59,352 50,899 20,065 10,958 54,038 796,863 Special Mention — — — 113 — — — 113 Substandard 1 261 91 126 42 790 — 1,311 Loss — — — — — 500 — 500 Subtotal 358,610 243,203 59,443 51,138 20,107 12,248 54,038 798,787 Total $ 1,004,473 $ 1,293,071 $ 691,126 $ 414,136 $ 288,522 $ 1,063,474 $ 800,664 $ 5,555,466

ALLOWANCE FOR CREDIT LOSSES A_2

ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURE (Tables)	3 Months Ended
	Mar. 31, 2023
ALLOWANCE FOR LOAN AND LEASE LOSSES
Schedule of activity in the allowance, by class	The following table presents by class, the activity in the ACL for loans under ASC 326 during the three months ended March 31, 2023 and March 31, 2022: (dollars in thousands) Commercial, Financial and Agricultural Real Estate Three Months Ended March 31, 2023 SBA PPP Other Construction Residential Mortgage Home Equity Commercial Mortgage Consumer Total Beginning balance $ 2 $ 6,822 $ 2,867 $ 11,804 $ 4,114 $ 17,902 $ 20,227 $ 63,738 Provision (credit) for credit losses on loans (1) 837 220 (44) (77) (430) 1,110 1,615 Subtotal 1 7,659 3,087 11,760 4,037 17,472 21,337 65,353 Charge-offs — 779 — — — — 2,686 3,465 Recoveries — 250 — 53 — — 908 1,211 Net charge-offs (recoveries) — 529 — (53) — — 1,778 2,254 Ending balance $ 1 $ 7,130 $ 3,087 $ 11,813 $ 4,037 $ 17,472 $ 19,559 $ 63,099 (dollars in thousands) Commercial, Financial and Agricultural Real Estate Three Months Ended March 31, 2022 SBA PPP Other Construction Residential Mortgage Home Equity Commercial Mortgage Consumer Total Beginning balance $ 77 $ 10,314 $ 3,908 $ 12,463 $ 4,509 $ 18,411 $ 18,415 $ 68,097 Provision (credit) for credit losses on loans (41) (848) (72) (1,532) 132 (2,356) 1,786 (2,931) Subtotal 36 9,466 3,836 10,931 4,641 16,055 20,201 65,166 Charge-offs — 254 — — — — 1,216 1,470 Recoveries — 350 — 112 — — 596 1,058 Net charge-offs (recoveries) — (96) — (112) — — 620 412 Ending balance $ 36 $ 9,562 $ 3,836 $ 11,043 $ 4,641 $ 16,055 $ 19,581 $ 64,754
Schedule of Credit Losses Related to Impaired Financing Receivables	The following table presents the activity in the reserve for off-balance sheet credit exposures, included in other liabilities, during the three months ended March 31, 2023 and March 31, 2022. Three Months Ended March 31, (dollars in thousands) 2023 2022 Beginning balance $ 3,243 $ 4,804 Provision (credit) for off-balance sheet credit exposures 237 (264) Ending balance $ 3,480 $ 4,540

INVESTMENTS IN UNCONSOLIDATED_2

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES (Tables)	3 Months Ended
	Mar. 31, 2023
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]
Schedule of investment in unconsolidated subsidiaries	The components of the Company's investments in unconsolidated entities were as follows: (dollars in thousands) March 31, 2023 December 31, 2022 Investments in low income housing tax credit partnerships, net of amortization $ 40,225 $ 40,939 Investments in common securities of statutory trusts 1,547 1,547 Investments in affiliates 136 110 Other 4,045 4,045 Total $ 45,953 $ 46,641 The following table presents amortization and tax credits recognized associated with our investments in LIHTC partnerships for the three months ended March 31, 2023 and March 31, 2022: Three Months Ended March 31, (dollars in thousands) 2023 2022 Proportional amortization method: Amortization expense recognized in income tax expense $ 714 $ 607 Tax credits recognized in income tax expense 892 709
Other Commitments	The expected payments for the unfunded commitments of LIHTC and other partnerships as of March 31, 2023 for the remainder of fiscal year 2023, the next five succeeding fiscal years, and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, LIHTC Other Total 2023 (remainder) $ 9,693 $ 1,123 $ 10,816 2024 9,280 — 9,280 2025 4,248 — 4,248 2026 26 — 26 2027 26 — 26 2028 20 — 20 Thereafter 313 — 313 Total unfunded commitments $ 23,606 $ 1,123 $ 24,729

MORTGAGE SERVICING RIGHTS (Tabl

MORTGAGE SERVICING RIGHTS (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of gross carrying value and accumulated amortization related to intangible assets	The following table presents changes in mortgage servicing rights for the periods presented: (dollars in thousands) Balance at December 31, 2022 $ 9,074 Additions 58 Amortization (189) Balance at March 31, 2023 $ 8,943 Balance at December 31, 2021 $ 9,738 Additions 276 Amortization (534) Balance at March 31, 2022 $ 9,480 The carrying values and accumulated amortization related to our mortgage servicing rights are presented below: March 31, 2023 December 31, 2022 (dollars in thousands) Gross Accumulated Net Gross Accumulated Net Mortgage servicing rights $ 69,471 $ (60,528) $ 8,943 $ 69,413 $ (60,339) $ 9,074
Schedule of fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights	The following tables present the fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights: Three Months Ended March 31, (dollars in thousands) 2023 2022 Fair market value, beginning of period $ 12,061 $ 10,504 Fair market value, end of period 11,875 11,166 Weighted average discount rate 9.5 % 9.5 % Weighted average prepayment speed assumption 10.3 % 18.3 %
Schedule of estimated amortization expense	Based on the mortgage servicing rights held as of March 31, 2023, estimated amortization expense for the remainder of fiscal year 2023, the next five succeeding fiscal years and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, 2023 (remainder) $ 668 2024 833 2025 756 2026 684 2027 610 2028 548 Thereafter 4,844 Total $ 8,943

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the location of all assets and liabilities associated with derivative instruments within the consolidated balance sheets	The following tables present the location of all assets and liabilities associated with our derivative instruments within the consolidated balance sheets: Derivative Financial Instruments Not Designated as Hedging Instruments Asset Derivatives Liability Derivatives Fair Value at Fair Value at (dollars in thousands) Balance Sheet Location March 31, December 31, March 31, December 31, Interest rate lock and forward sale commitments Other assets / other liabilities $ — $ 10 $ — $ 2 Back-to-back swap agreements Other assets / other liabilities 3,636 4,611 3,636 4,611 Derivative Financial Instruments Designated as Hedging Instruments Asset Derivatives Liability Derivatives Fair Value at Fair Value at (dollars in thousands) Balance Sheet Location March 31, December 31, March 31, December 31, Interest rate swap Other assets / other liabilities $ 4,444 $ 5,986 $ — $ —
Schedule of the impact of derivative instruments and their location within the consolidated statements of income	The following tables present the impact of derivative instruments and their location within the consolidated statements of income: Derivative Financial Instruments Location of Gain (Loss) Amount of Gain (Loss) (dollars in thousands) Three Months Ended March 31, 2023 Interest rate lock and forward sale commitments Mortgage banking income $ (8) Three Months Ended March 31, 2022 Interest rate lock and forward sale commitments Mortgage banking income 143 Risk participation agreements Other service charges and fees 16 Derivative Financial Instruments Location of Loss Amount of Loss (dollars in thousands) Three Months Ended March 31, 2023 Interest rate swap Interest income $ 57 Three Months Ended March 31, 2022 Interest rate swap Interest income —

SHORT-TERM BORROWINGS AND LON_2

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Subordinated Borrowing	At March 31, 2023 and December 31, 2022, the Company had the following junior subordinated debentures outstanding, which are recorded in long-term debt on the Company's consolidated balance sheets: (dollars in thousands) Name of Trust March 31, 2023 December 31, 2022 Interest Rate Trust IV $ 30,928 $ 30,928 Three month LIBOR + 2.45% Trust V 20,619 20,619 Three month LIBOR + 1.87% Total $ 51,547 $ 51,547
Schedule of Long-term Debt Instruments	As of March 31, 2023 and December 31, 2022, the Company had the following subordinated notes outstanding: (dollars in thousands) Description March 31, 2023 Interest Rate October 2020 Private Placement $ 55,000 4.75% for the first five years. Resets quarterly thereafter to the then current three-month SOFR plus 456 basis points. (dollars in thousands) Description December 31, 2022 Interest Rate October 2020 Private Placement $ 55,000 4.75% for the first five years. Resets quarterly thereafter to the then current three-month SOFR plus 456 basis points.

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Other operating income segregated by revenue streams	The following presents the Company's other operating income, segregated by revenue streams that are in-scope and out-of-scope of ASC 606, "Revenue from Contracts with Customers" for the three months ended March 31, 2023 and 2022: Three Months Ended March 31, (dollars in thousands) 2023 2022 Other operating income: In-scope of ASC 606 Mortgage banking income $ 151 $ 235 Service charges on deposit accounts 305 1,861 Other service charges and fees 4,379 3,863 Income on fiduciary activities 1,321 1,154 In-scope other operating income 6,156 7,113 Out-of-scope other operating income 4,853 2,438 Total other operating income $ 11,009 $ 9,551

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of activity of restricted stock awards and units	The table below presents the activity of RSUs and PSUs for the three months ended March 31, 2023: (dollars in thousands, except per share data) Shares Weighted Average Grant Date Fair Value Fair Value of RSUs and PSUs That Vested During the Period Non-vested RSUs and PSUs, beginning of period 352,465 $ 23.40 Changes during the period: Granted 111,680 23.05 Forfeited (46,801) 25.17 Vested (128,350) 23.17 $ 3,017 Non-vested RSUs and PSUs, end of period 288,994 23.08

PENSION AND SUPPLEMENTAL EXEC_2

PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS (Tables)	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plans Disclosures	The following table sets forth the components of net periodic benefit cost for the SERPs for the periods indicated: Three Months Ended March 31, (dollars in thousands) 2023 2022 Interest cost $ 112 $ 75 Amortization of net actuarial (gain) loss (19) 21 Amortization of net transition obligation 2 4 Net periodic benefit cost $ 95 $ 100 The following table sets forth the components of net periodic benefit cost for the defined benefit retirement plan for the periods indicated: Three Months Ended March 31, (dollars in thousands) 2023 2022 Interest cost $ — $ — Expected return on plan assets — (12) Amortization of net actuarial loss — 112 Settlement — — Net periodic benefit cost $ — $ 100

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Lease, Cost	Total lease cost, cash flow information, weighted-average remaining lease term and weighted-average discount rate is summarized below for the period indicated: Three Months Ended March 31, (dollars in thousands) 2023 2022 Lease cost: Operating lease cost $ 1,325 $ 1,390 Variable lease cost 888 830 Less: Sublease income (17) (12) Total lease cost $ 2,196 $ 2,208 Other information: Operating cash flows from operating leases $ (1,390) $ (1,506) Weighted-average remaining lease term - operating leases 11.22 years 11.49 years Weighted-average discount rate - operating leases 3.96 % 3.92 %
Lessee, Operating Lease, Liability, Maturity	The following is a schedule of annual undiscounted cash flows for our operating leases and a reconciliation of those cash flows to the operating lease liabilities for the remainder of fiscal year 2023, the next five succeeding fiscal years and all years thereafter: (dollars in thousands) Undiscounted Cash Flows Lease Liability Discount on Cash Flows Lease Liability Year Ending December 31, 2023 (remainder) $ 3,736 $ 994 $ 2,742 2024 4,467 1,210 3,257 2025 4,181 1,085 3,096 2026 4,118 965 3,153 2027 4,108 840 3,268 2028 3,509 723 2,786 Thereafter 19,682 2,908 16,774 Total $ 43,801 $ 8,725 $ 35,076
Operating Lease, Lease Income	The following represents lease income related to these leases that was recognized for the period indicated: Three Months Ended March 31, (dollars in thousands) 2023 2022 Total rental income recognized $ 562 $ 951
Lessor, Operating Lease, Payments to be Received, Maturity	Based on the Company's leases as lessor as of March 31, 2023, estimated lease payments for the remainder of fiscal year 2023, the next five succeeding fiscal years and all years thereafter are as follows: (dollars in thousands) Year Ending December 31, 2023 (remainder) $ 1,008 2024 1,189 2025 1,074 2026 939 2027 882 2028 532 Thereafter 1,839 Total $ 7,463

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of components of other comprehensive income (loss)	The following tables present the components of other comprehensive income (loss) ("AOCI") for the three months ended March 31, 2023 and 2022, by component: (dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2023 Net change in fair value of investment securities: Net unrealized gains on AFS investment securities arising during the period $ 15,258 $ 4,052 $ 11,206 Less: Amortization of unrealized losses on investment securities transferred to HTM 1,668 443 1,225 Net change in fair value of investment securities 16,926 4,495 12,431 Net change in fair value of derivatives: Net unrealized losses arising during the period (1,599) (436) (1,163) Net change in fair value of derivatives (1,599) (436) (1,163) SERPs: Amortization of net actuarial loss (19) (5) (14) Amortization of net transition obligation 2 — 2 SERPs (17) (5) (12) Other comprehensive income $ 15,310 $ 4,054 $ 11,256 (dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2022 Net change in fair value of investment securities: Net unrealized losses on AFS investment securities arising during the period $ (108,448) $ (28,998) $ (79,450) Net change in fair value of investment securities (108,448) (28,998) (79,450) Net change in fair value of derivatives: Net unrealized losses arising during the period $ (50) $ (13) $ (37) Net change in fair value of derivatives (50) (13) (37) Defined benefit retirement plan and SERPs: Amortization of net actuarial loss 133 36 97 Amortization of net transition obligation 4 1 3 Defined benefit retirement plan and SERPs 137 37 100 Other comprehensive loss $ (108,361) $ (28,974) $ (79,387)
Schedule of changes in each component of AOCI, net of tax	The following tables present the changes in each component of AOCI, net of tax, for the three months ended March 31, 2023 and 2022: (dollars in thousands) Investment Securities Derivatives SERPs [1] AOCI Three Months Ended March 31, 2023 Balance at beginning of period $ (149,109) $ 4,645 $ 480 $ (143,984) Other comprehensive income (loss) before reclassifications 11,206 (1,163) — 10,043 Reclassification adjustments from AOCI 1,225 — (12) 1,213 Total other comprehensive income (loss) 12,431 (1,163) (12) 11,256 Balance at end of period $ (136,678) $ 3,482 $ 468 $ (132,728) (dollars in thousands) Investment Securities Derivatives Defined Benefit Retirement Plan and SERPs [1] AOCI Three Months Ended March 31, 2022 Balance at beginning of period $ (3,666) $ — $ (4,294) $ (7,960) Other comprehensive loss before reclassifications (79,450) (37) — (79,487) Reclassification adjustments from AOCI — — 100 100 Total other comprehensive (loss) income (79,450) (37) 100 (79,387) Balance at end of period $ (83,116) $ (37) $ (4,194) $ (87,347) [1] During the second quarter of 2022, the Company settled all obligations related to its defined benefit retirement plan. As a result, all subsequent activity in the Company's AOCI balance related to the defined benefit retirement plan and SERPs relates entirely to SERPs.
Schedule of amounts reclassified out of each component of AOCI	The following table presents the amounts reclassified out of each component of AOCI for the three months ended March 31, 2023 and 2022: Amount Reclassified from AOCI Affected Line Item in the Statement Where Net Income is Presented (dollars in thousands) Three Months Ended March 31, Details about AOCI Components 2023 2022 Amortization of unrealized losses on investment securities transferred to held-to-maturity: Amortization $ (1,668) $ — Interest and dividends on investment securities Tax effect 443 — Income tax expense Net of tax $ (1,225) $ — Defined benefit retirement and supplemental executive retirement plan items: Amortization of net actuarial gain (loss) $ 19 $ (133) Other operating expense - other Amortization of net transition obligation (2) (4) Other operating expense - other Total before tax 17 (137) Tax effect (5) 37 Income tax benefit (expense) Net of tax $ 12 $ (100) Total reclassification adjustments from AOCI for the period, net of tax $ (1,213) $ (100)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of information used to compute basic and diluted earnings per share	The following table presents the information used to compute basic and diluted earnings per common share for the periods indicated: Three Months Ended March 31, (dollars in thousands, except per share data) 2023 2022 Net income $ 16,187 $ 19,438 Weighted average common shares outstanding - basic 26,999,138 27,591,390 Dilutive effect of employee stock options and awards 122,874 283,534 Weighted average common shares outstanding - diluted 27,122,012 27,874,924 Basic earnings per common share $ 0.60 $ 0.70 Diluted earnings per common share $ 0.60 $ 0.70

FAIR VALUE OF FINANCIAL ASSET_2

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of carrying amount and estimated fair value of financial instruments	Fair Value Measurement Using (dollars in thousands) Carrying Estimated Quoted Prices Significant Significant March 31, 2023 Financial assets: Cash and due from banks $ 108,535 $ 108,535 $ 108,535 $ — $ — Interest-bearing deposits in other banks 90,247 90,247 90,247 — — Investment securities 1,345,784 1,286,488 — 1,279,183 7,305 Loans, net of ACL 5,494,298 5,075,864 — — 5,075,864 Accrued interest receivable 20,473 20,473 20,473 — — Financial liabilities: Deposits: Noninterest-bearing demand 2,028,087 2,028,087 2,028,087 — — Interest-bearing demand and savings and money market 3,571,588 3,571,588 3,571,588 — — Time 1,147,293 1,132,282 — — 1,132,282 FHLB advances and other short-term borrowings 25,000 25,000 — 25,000 — Long-term debt 155,920 138,077 — — 138,077 Accrued interest payable (included in other liabilities) 7,688 7,688 7,688 — — Fair Value Measurement Using (dollars in thousands) Notional Carrying Estimated Quoted Prices Significant Significant March 31, 2023 Off-balance sheet financial instruments: Commitments to extend credit $ 1,382,978 $ — $ 1,365 $ — $ 1,365 $ — Standby letters of credit and financial guarantees written 5,194 — 78 — 78 — Derivatives: Risk participation agreements 36,634 — — — — — Back-to-back swap agreements: Assets 32,136 3,636 3,636 — — 3,636 Liabilities (32,136) (3,636) (3,636) — — (3,636) Interest rate swap agreements 115,545 4,444 4,444 — — 4,444 Fair Value Measurement Using (dollars in thousands) Carrying Estimated Quoted Prices Significant Significant December 31, 2022 Financial assets: Cash and due from banks $ 97,150 $ 97,150 $ 97,150 $ — $ — Interest-bearing deposits in other banks 14,894 14,894 14,894 — — Investment securities 1,336,677 1,268,574 — 1,261,306 7,268 Loans held for sale 1,105 1,105 — 1,105 — Loans, net of ACL 5,491,728 5,043,436 — — 5,043,436 Accrued interest receivable 20,345 20,345 20,345 — — Financial liabilities: Deposits: Noninterest-bearing demand 2,092,823 2,092,823 2,092,823 — — Interest-bearing demand and savings and money market 3,652,195 3,652,195 3,652,195 — — Time 991,205 975,086 — — 975,086 Long-term debt 105,859 93,729 — — 93,729 Accrued interest payable (included in other liabilities) 4,739 4,739 4,739 — — Fair Value Measurement Using (dollars in thousands) Notional Carrying Estimated Quoted Prices Significant Significant December 31, 2022 Off-balance sheet financial instruments: Commitments to extend credit $ 1,328,791 $ — $ 1,270 $ — $ 1,270 $ — Standby letters of credit and financial guarantees written 5,367 — 80 — 80 — Derivatives: Forward sale commitments 1,110 8 8 — 8 — Risk participation agreements 36,835 — — — — — Back-to-back swap agreements: Assets 32,335 4,611 4,611 — — 4,611 Liabilities (32,335) (4,611) (4,611) — — (4,611) Interest rate swap agreements 115,545 5,986 5,986 — — 5,986
Schedule of balances of assets and liabilities measured at fair value on a recurring basis	The following tables present the fair value of assets and liabilities measured on a recurring basis as of March 31, 2023 and December 31, 2022: Fair Value at Reporting Date Using (dollars in thousands) Fair Value Quoted Prices Significant Significant March 31, 2023 Available-for-sale securities: Debt securities: States and political subdivisions $ 139,521 $ — $ 132,927 $ 6,594 Corporate securities 31,097 — 31,097 — U.S. Treasury obligations and direct obligations of U.S. Government agencies 24,343 — 24,343 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 421,484 — 421,484 — Residential - Non-government agencies 8,637 — 7,926 711 Commercial - U.S. Government-sponsored entities 45,800 — 45,800 — Commercial - Non-government agencies 16,306 — 16,306 — Total available-for-sale investment securities 687,188 — 679,883 7,305 Derivatives: Interest rate swap agreements 4,444 — — 4,444 Total derivatives 4,444 — — 4,444 Total $ 691,632 $ — $ 679,883 $ 11,749 Fair Value at Reporting Date Using (dollars in thousands) Fair Value Quoted Prices Significant Significant December 31, 2022 Available-for-sale securities: Debt securities: States and political subdivisions $ 135,752 $ — $ 129,168 $ 6,584 Corporate securities 30,211 — 30,211 — U.S. Treasury obligations and direct obligations of U.S. Government agencies 25,715 — 25,715 — Mortgage-backed securities: Residential - U.S. Government-sponsored entities 423,803 — 423,803 — Residential - Non-government agencies 8,662 — 7,978 684 Commercial - U.S. Government-sponsored entities 46,144 — 46,144 — Commercial - Non-government agencies 1,507 — 1,507 — Total available-for-sale investment securities 671,794 — 664,526 7,268 Derivatives: Interest rate lock commitments 8 — 8 — Interest rate swap agreements 5,986 — — 5,986 Total derivatives 5,994 — 8 5,986 Total $ 677,788 $ — $ 664,534 $ 13,254
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis	For the three months ended March 31, 2023 and 2022, the changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: Available-For-Sale Debt Securities: (dollars in thousands) States and Political Subdivisions Residential - Non-Government Agencies Total Balance at December 31, 2022 $ 6,584 $ 684 $ 7,268 Principal payments received (56) (6) (62) Unrealized net gain included in other comprehensive income 66 33 99 Balance at March 31, 2023 $ 6,594 $ 711 $ 7,305 Balance at December 31, 2021 $ 7,681 $ 938 $ 8,619 Principal payments received (55) (5) (60) Unrealized net loss included in other comprehensive income (397) (81) (478) Balance at March 31, 2022 $ 7,229 $ 852 $ 8,081

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) segment	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Jan. 31, 2020
Accounting Policies [Line Items]
Equity method investments	$ 100		$ 100
Total unfunded commitments	24,729
Cost method investment	5,600		5,600
Proportional amortization investments	$ 40,200		40,900
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Accrued interest receivable
Available for sale accrued interest receivable	$ 2,900		3,100
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Accrued interest receivable
Accrued interest receivable on HTM debt securities	$ 1,300		1,300
Financing receivable accrued interest receivable	$ 16,300		16,000
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Accrued interest receivable
Number of operating segments | segment	1
Other
Accounting Policies [Line Items]
Total unfunded commitments	$ 1,123		$ 1,300
Oahu HomeLoans, LLC
Accounting Policies [Line Items]
Equity method investment, ownership percentage						50%
Gentry Home Loans L L C
Accounting Policies [Line Items]
Equity method investment, ownership percentage	50%
Haseko Home Loans L L C
Accounting Policies [Line Items]
Equity method investment, ownership percentage	50%
Island Pacific HomeLoans, LLC
Accounting Policies [Line Items]
Equity method investment, ownership percentage	50%
Swell Financial, Inc.
Accounting Policies [Line Items]
Equity method investments		$ 2,000
Other intangible assets and services provided in exchange for common stock		1,500
Cash in exchange for preferred stock		$ 500
JAM FINTOP Banktech Fund, L.P.
Accounting Policies [Line Items]
Equity method investments				$ 2,000	$ 2,000

INVESTMENT SECURITIES (Availabl

INVESTMENT SECURITIES (Available for Sale and Held to Maturity Investment Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	May 31, 2022	Mar. 31, 2022
Held-to-Maturity:
Amortized Cost	$ 658,596	$ 664,883
Gross Unrealized Gains	145	0
Gross Unrealized Losses	(59,441)	(68,103)
Fair Value	599,300	596,780	$ 343,700	$ 329,500
ACL	0	0
Available-for-Sale:
Amortized Cost	801,506	801,370
Gross Unrealized Gains	31	6
Gross Unrealized Losses	(114,349)	(129,582)
Fair Value	687,188	671,794
ACL	0	0
States and political subdivisions
Held-to-Maturity:
Amortized Cost	41,867	41,840
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(4,746)	(4,727)
Fair Value	37,121	37,113
ACL	0	0
Available-for-Sale:
Amortized Cost	170,628	172,427
Gross Unrealized Gains	26	6
Gross Unrealized Losses	(31,133)	(36,681)
Fair Value	139,521	135,752
ACL	0	0
Residential - U.S. Government-sponsored entities
Held-to-Maturity:
Amortized Cost	616,729	623,043
Gross Unrealized Gains	145	0
Gross Unrealized Losses	(54,695)	(63,376)
Fair Value	562,179	559,667
ACL	0	0
Available-for-Sale:
Amortized Cost	488,550	498,989
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(67,066)	(75,186)
Fair Value	421,484	423,803
ACL	0	0
Corporate securities
Held-to-Maturity:
Amortized Cost		0
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		0
ACL		0
Available-for-Sale:
Amortized Cost	36,087	36,206
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(4,990)	(5,995)
Fair Value	31,097	30,211
ACL	0	0
U.S. Treasury obligations and direct obligations of U.S. Government agencies
Held-to-Maturity:
Amortized Cost		0
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		0
ACL		0
Available-for-Sale:
Amortized Cost	26,533	28,032
Gross Unrealized Gains	5	0
Gross Unrealized Losses	(2,195)	(2,317)
Fair Value	24,343	25,715
ACL	0	0
Residential - Non-government agencies
Held-to-Maturity:
Amortized Cost		0
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		0
ACL		0
Available-for-Sale:
Amortized Cost	9,614	9,829
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(977)	(1,167)
Fair Value	8,637	8,662
ACL	0	0
Commercial - U.S. Government-sponsored entities
Held-to-Maturity:
Amortized Cost		0
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		0
ACL		0
Available-for-Sale:
Amortized Cost	53,597	54,346
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(7,797)	(8,202)
Fair Value	45,800	46,144
ACL	0	0
Commercial - Non-government agencies
Held-to-Maturity:
Amortized Cost		0
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Fair Value		0
ACL		0
Available-for-Sale:
Amortized Cost	16,497	1,541
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(191)	(34)
Fair Value	16,306	1,507
ACL	$ 0	$ 0

INVESTMENT SECURITIES (Narrativ

INVESTMENT SECURITIES (Narrative) (Details) $ in Thousands	1 Months Ended		3 Months Ended		15 Months Ended
	May 31, 2022 USD ($) investment	Mar. 31, 2022 USD ($) investment	Mar. 31, 2023 USD ($) security	Mar. 31, 2022 USD ($)	Mar. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security	Jun. 30, 2022 USD ($) shares
EQUITY
Investment securities classified from available-for-sale to held-to-maturity | investment	40	41
Investment securities, amortized cost basis	$ 400,900	$ 361,800
Held to maturity, fair value	343,700	329,500	$ 599,300	$ 329,500	$ 599,300	$ 596,780
Net unrealized loss from transfer of securities	$ 57,200	$ 32,300
Available-for-sale debt securities, at fair value			$ 687,188		$ 687,188	$ 671,794
Number of HTM investment securities in an unrealized loss position | security			81		81	83
Number of AFS investment securities in an unrealized loss position | security			236		236	243
Net proceeds			$ 405,866		$ 405,866	$ 408,071
Amortization of unrealized losses on investment securities transferred to held-to-maturity at fair value			(1,668)	$ 0
Net unrealized gains on investment securities
EQUITY
Amortization of unrealized losses on investment securities transferred to held-to-maturity at fair value			1,668		7,900
Common Class B | Visa
EQUITY
Shares owned (in shares) | shares							34,631
Net proceeds							$ 8,500
Collateralized Mortgage-Backed Securities | Asset Pledged as Collateral without Right
EQUITY
Available-for-sale debt securities, at fair value			$ 699,600		$ 699,600	$ 607,700

INVESTMENT SECURITIES (Amortize

INVESTMENT SECURITIES (Amortized Cost and Estimated Fair Value of Investment Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	May 31, 2022	Mar. 31, 2022
Amortized Cost
Due in one year or less	$ 0
Due after one year through five years	0
Due after five years through ten years	0
Due after ten years	41,867
Amortized Cost	658,596	$ 664,883
Fair Value
Due in one year or less	0
Due after one year through five years	0
Due after five years through ten years	0
Due after ten years	37,121
Fair Value	$ 599,300	596,780	$ 343,700	$ 329,500
Weighted Average Yield
Due in one year or less (in percent)	0%
Due after one year through five years (in percent)	0%
Due after give years through ten years (in percent)	0%
Due after ten years (in percent)	2.26%
Weighted Average Yield	1.96%
Amortized Cost
Due in one year or less	$ 5,185
Due after one year through five years	16,601
Due after five years through ten years	76,927
Due after ten years	134,535
Amortized Cost	801,506	801,370
Fair Value
Due in one year or less	5,171
Due after one year through five years	16,323
Due after five years through ten years	69,210
Due after ten years	104,257
Fair Value	$ 687,188	671,794
Weighted Average Yield
Due in one year or less (in percent)	3.01%
Due after one year through five years (in percent)	3.90%
Due after five years through ten years (in percent)	2.68%
Due after ten years (in percent)	2.48%
Weighted Average Yield	2.33%
Residential - U.S. Government-sponsored entities
Amortized Cost
Without single maturity date	$ 616,729
Amortized Cost	616,729	623,043
Fair Value
Without single maturity date	562,179
Fair Value	$ 562,179	559,667
Weighted Average Yield
Without single maturity date (in percent)	1.94%
Amortized Cost
Without single maturity date	$ 488,550
Amortized Cost	488,550	498,989
Fair Value
Without single maturity date	421,484
Fair Value	$ 421,484	423,803
Weighted Average Yield
Without single maturity date (in percent)	2.04%
Residential - Non-government agencies
Amortized Cost
Amortized Cost		0
Fair Value
Fair Value		0
Amortized Cost
Without single maturity date	$ 9,614
Amortized Cost	9,614	9,829
Fair Value
Without single maturity date	8,637
Fair Value	$ 8,637	8,662
Weighted Average Yield
Without single maturity date (in percent)	3.32%
Commercial - U.S. Government-sponsored entities
Amortized Cost
Amortized Cost		0
Fair Value
Fair Value		0
Amortized Cost
Without single maturity date	$ 53,597
Amortized Cost	53,597	54,346
Fair Value
Without single maturity date	45,800
Fair Value	$ 45,800	46,144
Weighted Average Yield
Without single maturity date (in percent)	2.35%
Commercial - Non-government agencies
Amortized Cost
Amortized Cost		0
Fair Value
Fair Value		0
Amortized Cost
Without single maturity date	$ 16,497
Amortized Cost	16,497	1,541
Fair Value
Without single maturity date	16,306
Fair Value	$ 16,306	$ 1,507
Weighted Average Yield
Without single maturity date (in percent)	5.05%

INVESTMENT SECURITIES (Investme

INVESTMENT SECURITIES (Investment Securities at an Unrealized Loss Position) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Held-to-Maturity:
Less Than 12 Months, Fair Value	$ 305,007	$ 596,780
Less Than 12 Months, Unrecognized Losses	(20,724)	(68,103)
12 Month or Longer, Fair Value	274,764	0
12 Month or Longer, Unrecognized Losses	(38,717)	0
Total Fair Value	579,771	596,780
Total Unrecognized Losses	(59,441)	(68,103)
Available-for-Sale:
Less than 12 months, Fair Value	47,579	240,949
Less Than 12 Months, Unrecognized Losses	(1,152)	(21,134)
12 Month or Longer, Fair Value	625,851	425,202
12 Month or Longer, Unrecognized Losses	(113,197)	(108,448)
Total Fair Value	673,430	666,151
Total Unrecognized Losses	114,349	129,582
States and political subdivisions
Held-to-Maturity:
Less Than 12 Months, Fair Value	0	37,113
Less Than 12 Months, Unrecognized Losses	0	(4,727)
12 Month or Longer, Fair Value	37,121	0
12 Month or Longer, Unrecognized Losses	(4,746)	0
Total Fair Value	37,121	37,113
Total Unrecognized Losses	(4,746)	(4,727)
Available-for-Sale:
Less than 12 months, Fair Value	13,008	52,244
Less Than 12 Months, Unrecognized Losses	(307)	(4,807)
12 Month or Longer, Fair Value	114,337	78,389
12 Month or Longer, Unrecognized Losses	(30,826)	(31,874)
Total Fair Value	127,345	130,633
Total Unrecognized Losses	31,133	36,681
Corporate securities
Available-for-Sale:
Less than 12 months, Fair Value	0	0
Less Than 12 Months, Unrecognized Losses	0	0
12 Month or Longer, Fair Value	31,097	30,211
12 Month or Longer, Unrecognized Losses	(4,990)	(5,995)
Total Fair Value	31,097	30,211
Total Unrecognized Losses	4,990	5,995
U.S. Treasury obligations and direct obligations of U.S. Government agencies
Available-for-Sale:
Less than 12 months, Fair Value	5,749	9,651
Less Than 12 Months, Unrecognized Losses	(140)	(245)
12 Month or Longer, Fair Value	17,011	15,541
12 Month or Longer, Unrecognized Losses	(2,055)	(2,072)
Total Fair Value	22,760	25,192
Total Unrecognized Losses	2,195	2,317
Residential - U.S. Government-sponsored entities
Held-to-Maturity:
Less Than 12 Months, Fair Value	305,007	559,667
Less Than 12 Months, Unrecognized Losses	(20,724)	(63,376)
12 Month or Longer, Fair Value	237,643	0
12 Month or Longer, Unrecognized Losses	(33,971)	0
Total Fair Value	542,650	559,667
Total Unrecognized Losses	(54,695)	(63,376)
Available-for-Sale:
Less than 12 months, Fair Value	9,673	149,624
Less Than 12 Months, Unrecognized Losses	(240)	(13,990)
12 Month or Longer, Fair Value	411,811	274,179
12 Month or Longer, Unrecognized Losses	(66,826)	(61,196)
Total Fair Value	421,484	423,803
Total Unrecognized Losses	67,066	75,186
Residential - Non-government agencies
Available-for-Sale:
Less than 12 months, Fair Value	2,843	2,890
Less Than 12 Months, Unrecognized Losses	(274)	(334)
12 Month or Longer, Fair Value	5,795	5,772
12 Month or Longer, Unrecognized Losses	(703)	(833)
Total Fair Value	8,638	8,662
Total Unrecognized Losses	977	1,167
Commercial - U.S. Government-sponsored entities
Available-for-Sale:
Less than 12 months, Fair Value	0	25,034
Less Than 12 Months, Unrecognized Losses	0	(1,724)
12 Month or Longer, Fair Value	45,800	21,110
12 Month or Longer, Unrecognized Losses	(7,797)	(6,478)
Total Fair Value	45,800	46,144
Total Unrecognized Losses	7,797	8,202
Commercial - Non-government agencies
Available-for-Sale:
Less than 12 months, Fair Value	16,306	1,506
Less Than 12 Months, Unrecognized Losses	(191)	(34)
12 Month or Longer, Fair Value	0	0
12 Month or Longer, Unrecognized Losses	0	0
Total Fair Value	16,306	1,506
Total Unrecognized Losses	$ 191	$ 34

LOANS AND CREDIT QUALITY (Loans

LOANS AND CREDIT QUALITY (Loans and Leases) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
LOANS AND LEASES
Loans and leases, gross	$ 5,557,946	$ 5,556,312
Net deferred fees	(549)	(846)
Total loans, net of deferred fees and costs	5,557,397	5,555,466
Allowance for credit losses	(63,099)	(63,738)
Loans, net of allowance for credit losses	5,494,298	5,491,728
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program
LOANS AND LEASES
Loans and leases, gross	1,883	2,654
Commercial, financial and agricultural: | Other
LOANS AND LEASES
Loans and leases, gross	555,508	544,495
Real Estate | Construction
LOANS AND LEASES
Loans and leases, gross	182,091	167,366
Real Estate | Home Equity
LOANS AND LEASES
Loans and leases, gross	741,894	737,386
Consumer | Consumer
LOANS AND LEASES
Loans and leases, gross	$ 772,424	$ 798,957

LOANS AND CREDIT QUALITY (Narra

LOANS AND CREDIT QUALITY (Narrative) (Details)	3 Months Ended
	Mar. 31, 2023 USD ($) loan property	Mar. 31, 2022 USD ($) loan contract	Dec. 31, 2022 USD ($)
Recorded investment in the loans and leases, by class and credit indicator
Net transfer of portfolio loans to loans held for sale | $	$ 0	$ 0
Loans sold originally held for investment | loan	0	0
Mortgage loans foreclosure, number | loan	0	0
Mortgage loans foreclosure, number sold | property	0
Number of loans were modified as a TDR within the previous twelve months that subsequently defaulted | loan	0	0
Nonperforming Financial Instruments
Recorded investment in the loans and leases, by class and credit indicator
Amount of TDRs still accruing interest | $	$ 2,300,000		$ 2,800,000
HAWAII | Nonperforming Financial Instruments
Recorded investment in the loans and leases, by class and credit indicator
Number of TDRs included in nonperforming assets | loan	5
Trouble debt restructuring | $	$ 1,100,000
Real Estate | Real estate, Mortgage - residential
Recorded investment in the loans and leases, by class and credit indicator
Number of loans modified | contract		0
Real Estate | Residential Mortgage
Recorded investment in the loans and leases, by class and credit indicator
Loans in the process of foreclosure | $	$ 1,400,000		$ 2,400,000

LOANS AND CREDIT QUALITY (Purch

LOANS AND CREDIT QUALITY (Purchases) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Loans and Leases Receivable Disclosure [Line Items]
Outstanding balance	$ 18,939	$ 82,166
(Discount) premium	568	(2,453)
Purchase price	19,507	79,713
U.S. Mainland Consumer - Unsecured
Loans and Leases Receivable Disclosure [Line Items]
Outstanding balance	3,780	48,142
(Discount) premium	0	(4,367)
Purchase price	3,780	43,775
U.S. Mainland Consumer - Automobile
Loans and Leases Receivable Disclosure [Line Items]
Outstanding balance	15,159	34,024
(Discount) premium	568	1,914
Purchase price	$ 15,727	$ 35,938

LOANS AND CREDIT QUALITY (Colla

LOANS AND CREDIT QUALITY (Collateral-Dependent Loans) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	$ 6,223
Allocated ACL	0
Secured by 1-4 Family Residential Properties
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	6,223
Secured by Nonfarm Nonresidential Properties
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	0
Secured by Real Estate and Business Assets
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	0
Real Estate | Residential Mortgage
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	5,653
Allocated ACL	0
Real Estate | Residential Mortgage | Secured by 1-4 Family Residential Properties
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	5,653
Real Estate | Residential Mortgage | Secured by Nonfarm Nonresidential Properties
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	0
Real Estate | Residential Mortgage | Secured by Real Estate and Business Assets
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	0
Real Estate | Home Equity
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	570
Allocated ACL	0
Real Estate | Home Equity | Secured by 1-4 Family Residential Properties
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	570
Real Estate | Home Equity | Secured by Nonfarm Nonresidential Properties
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	0
Real Estate | Home Equity | Secured by Real Estate and Business Assets
Loans and Leases Receivable Disclosure [Line Items]
Collateral-Dependent Financing Receivable	$ 0

LOANS AND CREDIT QUALITY (Aging

LOANS AND CREDIT QUALITY (Aging of Recorded Investment) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	$ 5,557,397	$ 5,555,466
Nonaccrual Loans	5,313	5,251
Total Past Due and Nonaccrual	20,689	17,371
Nonaccrual Loans with No ACL	4,234	4,378
Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	11,955	8,193
Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,513	2,089
Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,908	1,838
Loans Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	5,536,708	5,538,095
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,821	2,555
Nonaccrual Loans	0	0
Total Past Due and Nonaccrual	0	521
Nonaccrual Loans with No ACL	0	0
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	471
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	37
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	13
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program | Loans Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,821	2,034
Commercial, financial and agricultural: | Other
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	555,064	543,947
Nonaccrual Loans	264	297
Total Past Due and Nonaccrual	1,378	1,000
Nonaccrual Loans with No ACL	0	0
Commercial, financial and agricultural: | Other | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,114	546
Commercial, financial and agricultural: | Other | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	131
Commercial, financial and agricultural: | Other | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	26
Commercial, financial and agricultural: | Other | Loans Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	553,686	542,947
Real Estate | Construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	181,474	166,723
Nonaccrual Loans	0	0
Total Past Due and Nonaccrual	0	0
Nonaccrual Loans with No ACL	0	0
Real Estate | Construction | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Real Estate | Construction | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due		0
Real Estate | Construction | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Real Estate | Construction | Loans Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	181,474	166,723
Real Estate | Real estate, Mortgage - residential
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,941,230	1,940,999
Nonaccrual Loans	3,445	3,808
Total Past Due and Nonaccrual	9,546	4,670
Nonaccrual Loans with No ACL	3,445	3,808
Real Estate | Real estate, Mortgage - residential | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	5,984	303
Real Estate | Real estate, Mortgage - residential | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	117	0
Real Estate | Real estate, Mortgage - residential | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	559
Real Estate | Real estate, Mortgage - residential | Loans Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,931,684	1,936,329
Real Estate | Home Equity
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	743,908	739,380
Nonaccrual Loans	712	570
Total Past Due and Nonaccrual	1,154	2,110
Nonaccrual Loans with No ACL	712	570
Real Estate | Home Equity | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	442	1,540
Real Estate | Home Equity | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Real Estate | Home Equity | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Real Estate | Home Equity | Loans Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	742,754	737,270
Real Estate | Commercial mortgage
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,361,632	1,363,075
Nonaccrual Loans	77	0
Total Past Due and Nonaccrual	77	160
Nonaccrual Loans with No ACL	77	0
Real Estate | Commercial mortgage | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	160
Real Estate | Commercial mortgage | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Real Estate | Commercial mortgage | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Real Estate | Commercial mortgage | Loans Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,361,555	1,362,915
Consumer | Consumer Loan
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	772,268	798,787
Nonaccrual Loans	815	576
Total Past Due and Nonaccrual	8,534	8,910
Nonaccrual Loans with No ACL	0	0
Consumer | Consumer Loan | Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	4,415	5,173
Consumer | Consumer Loan | Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,396	1,921
Consumer | Consumer Loan | Accruing Loans Greater  Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,908	1,240
Consumer | Consumer Loan | Loans Not Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	$ 763,734	$ 789,877

LOANS AND CREDIT QUALITY (Class

LOANS AND CREDIT QUALITY (Class and Credit Indicator) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	$ 74,123	$ 1,004,473
Fiscal year before current fiscal year	1,028,674	1,293,071
Two years before current fiscal year	1,271,125	691,126
Three years before current fiscal year	671,962	414,136
Four years before current fiscal year	392,067	288,522
Five years before current fiscal year	1,321,470	1,063,474
Amortized Cost of Revolving Loans	797,976	800,664
Total	5,557,397	5,555,466
Loans and leases, gross	5,557,946	5,556,312
Net deferred costs (income)	(549)	(846)
Total loans, net of deferred fees and costs	5,557,397	5,555,466
Financing Receivable, Allowance For Credit Loss, Write Off, By Origination Year [Abstract]
Year-to-date gross charge-offs, Current fiscal year	0
Year-to-date gross charge-offs, fiscal year before current fiscal year	1,048
Year-to-date gross charge-offs, two years before current fiscal year	1,218
Year-to-date gross charge-offs, three years before current fiscal year	200
Year-to-date gross charge-offs, four years before current fiscal year	371
Year-to-date gross charge-offs, five years before current fiscal year	628
Year-to-date gross charge-offs, Amortized Cost of Revolving Loans	0
Year-to-date gross charge-offs, Total	3,465
Accruing Loans 30 - 59 Days Past Due
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	11,955	8,193
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	2,546
Two years before current fiscal year	0	9
Three years before current fiscal year	1,813	0
Four years before current fiscal year	8	0
Five years before current fiscal year	0	0
Amortized Cost of Revolving Loans	0	0
Total	1,821	2,555
Loans and leases, gross	1,883	2,654
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program | Accruing Loans 30 - 59 Days Past Due
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	0	471
Commercial, financial and agricultural: | Small Business Administration Paycheck Protection Program | Pass
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	2,546
Two years before current fiscal year	0	9
Three years before current fiscal year	1,813	0
Four years before current fiscal year	8	0
Five years before current fiscal year	0	0
Amortized Cost of Revolving Loans	0	0
Total	1,821	2,555
Commercial, financial and agricultural: | Other
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	15,746	79,944
Fiscal year before current fiscal year	92,071	102,121
Two years before current fiscal year	100,019	42,363
Three years before current fiscal year	39,965	54,508
Four years before current fiscal year	56,150	39,251
Five years before current fiscal year	174,464	149,165
Amortized Cost of Revolving Loans	76,649	76,595
Total	555,064	543,947
Loans and leases, gross	555,508	544,495
Financing Receivable, Allowance For Credit Loss, Write Off, By Origination Year [Abstract]
Year-to-date gross charge-offs, Current fiscal year	0
Year-to-date gross charge-offs, fiscal year before current fiscal year	144
Year-to-date gross charge-offs, two years before current fiscal year	32
Year-to-date gross charge-offs, three years before current fiscal year	0
Year-to-date gross charge-offs, four years before current fiscal year	191
Year-to-date gross charge-offs, five years before current fiscal year	412
Year-to-date gross charge-offs, Amortized Cost of Revolving Loans	0
Year-to-date gross charge-offs, Total	779
Commercial, financial and agricultural: | Other | Accruing Loans 30 - 59 Days Past Due
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	1,114	546
Commercial, financial and agricultural: | Other | Special Mention
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	2,206
Fiscal year before current fiscal year	1,025	350
Two years before current fiscal year	326	172
Three years before current fiscal year	158	1,011
Four years before current fiscal year	866	29
Five years before current fiscal year	3	0
Amortized Cost of Revolving Loans	0	99
Total	2,378	3,867
Commercial, financial and agricultural: | Other | Substandard
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	188
Fiscal year before current fiscal year	198	176
Two years before current fiscal year	191	833
Three years before current fiscal year	786	256
Four years before current fiscal year	223	116
Five years before current fiscal year	7,213	7,215
Amortized Cost of Revolving Loans	99	30
Total	8,710	8,814
Commercial, financial and agricultural: | Other | Pass
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	15,746	77,550
Fiscal year before current fiscal year	90,848	101,595
Two years before current fiscal year	99,502	41,358
Three years before current fiscal year	39,021	53,241
Four years before current fiscal year	55,061	39,106
Five years before current fiscal year	167,248	141,950
Amortized Cost of Revolving Loans	76,550	76,466
Total	543,976	531,266
Real Estate | Construction
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	25,663
Fiscal year before current fiscal year	43,148	66,294
Two years before current fiscal year	72,759	23,384
Three years before current fiscal year	17,634	3,083
Four years before current fiscal year	3,051	15,207
Five years before current fiscal year	31,741	18,048
Amortized Cost of Revolving Loans	13,141	15,044
Total	181,474	166,723
Loans and leases, gross	182,091	167,366
Real Estate | Construction | Accruing Loans 30 - 59 Days Past Due
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	0	0
Real Estate | Construction | Special Mention
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year		0
Fiscal year before current fiscal year		417
Two years before current fiscal year		0
Three years before current fiscal year		0
Four years before current fiscal year		898
Five years before current fiscal year		0
Amortized Cost of Revolving Loans		0
Total		1,315
Real Estate | Construction | Substandard
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	4,850
Two years before current fiscal year	5,264	0
Three years before current fiscal year	0	696
Four years before current fiscal year	688	0
Five years before current fiscal year	0	0
Amortized Cost of Revolving Loans	0	0
Total	5,952	5,546
Real Estate | Construction | Pass
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	25,663
Fiscal year before current fiscal year	43,148	61,027
Two years before current fiscal year	67,495	23,384
Three years before current fiscal year	17,634	2,387
Four years before current fiscal year	2,363	14,309
Five years before current fiscal year	31,741	18,048
Amortized Cost of Revolving Loans	13,141	15,044
Total	175,522	159,862
Real Estate | Home Equity
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	2,621	34,973
Fiscal year before current fiscal year	34,091	23,772
Two years before current fiscal year	22,823	10,520
Three years before current fiscal year	10,251	7,463
Four years before current fiscal year	7,139	6,958
Five years before current fiscal year	19,792	12,180
Amortized Cost of Revolving Loans	647,191	643,514
Total	743,908	739,380
Loans and leases, gross	741,894	737,386
Real Estate | Home Equity | Accruing Loans 30 - 59 Days Past Due
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	442	1,540
Real Estate | Home Equity | Special Mention
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year		0
Fiscal year before current fiscal year		0
Two years before current fiscal year		0
Three years before current fiscal year		0
Four years before current fiscal year		0
Five years before current fiscal year		0
Amortized Cost of Revolving Loans		198
Total		198
Real Estate | Home Equity | Substandard
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	73	78
Five years before current fiscal year	638	453
Amortized Cost of Revolving Loans	0	39
Total	711	570
Real Estate | Home Equity | Pass
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	2,621	34,973
Fiscal year before current fiscal year	34,091	23,772
Two years before current fiscal year	22,823	10,520
Three years before current fiscal year	10,251	7,463
Four years before current fiscal year	7,066	6,880
Five years before current fiscal year	19,154	11,727
Amortized Cost of Revolving Loans	647,191	643,277
Total	743,197	738,612
Real Estate | Commercial mortgage
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	1,361,632	1,363,075
Real Estate | Commercial mortgage | Accruing Loans 30 - 59 Days Past Due
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	0	160
Real Estate | Residential Mortgage
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	27,065	279,146
Fiscal year before current fiscal year	276,052	636,756
Two years before current fiscal year	631,544	435,876
Three years before current fiscal year	431,022	154,906
Four years before current fiscal year	153,042	58,934
Five years before current fiscal year	422,505	375,381
Amortized Cost of Revolving Loans	0	0
Total	1,941,230	1,940,999
Loans and leases, gross	1,940,639	1,940,456
Real Estate | Residential Mortgage | Substandard
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	948
Three years before current fiscal year	941	0
Four years before current fiscal year	0	503
Five years before current fiscal year	3,445	3,864
Amortized Cost of Revolving Loans	0	0
Total	4,386	5,315
Real Estate | Residential Mortgage | Pass
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	27,065	279,146
Fiscal year before current fiscal year	276,052	636,756
Two years before current fiscal year	631,544	434,928
Three years before current fiscal year	430,081	154,906
Four years before current fiscal year	153,042	58,431
Five years before current fiscal year	419,060	371,517
Amortized Cost of Revolving Loans	0	0
Total	1,936,844	1,935,684
Real Estate | Commercial Mortgage
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	6,236
Fiscal year before current fiscal year	235,341
Two years before current fiscal year	217,398
Three years before current fiscal year	118,627
Four years before current fiscal year	128,286
Five years before current fiscal year	646,829
Amortized Cost of Revolving Loans	8,915
Total	1,361,632
Loans and leases, gross	1,363,507	1,364,998
Real Estate | Commercial Mortgage | Special Mention
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	11,388
Four years before current fiscal year	11,169	0
Five years before current fiscal year	13,174	16,082
Amortized Cost of Revolving Loans	0	0
Total	24,343	27,470
Real Estate | Commercial Mortgage | Substandard
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	10,149
Two years before current fiscal year	10,140	0
Three years before current fiscal year	0	1,700
Four years before current fiscal year	1,691	2,133
Five years before current fiscal year	10,297	8,103
Amortized Cost of Revolving Loans	0	0
Total	22,128	22,085
Real Estate | Commercial Mortgage | Pass
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	6,236	226,137
Fiscal year before current fiscal year	235,341	208,230
Two years before current fiscal year	207,258	119,531
Three years before current fiscal year	118,627	129,950
Four years before current fiscal year	115,426	145,932
Five years before current fiscal year	623,358	472,267
Amortized Cost of Revolving Loans	8,915	11,473
Total	1,315,161	1,313,520
Consumer | Consumer
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	22,455	358,610
Fiscal year before current fiscal year	347,971	243,203
Two years before current fiscal year	226,582	59,443
Three years before current fiscal year	52,650	51,138
Four years before current fiscal year	44,391	20,107
Five years before current fiscal year	26,139	12,248
Amortized Cost of Revolving Loans	52,080	54,038
Total	772,268	798,787
Loans and leases, gross	772,424	798,957
Consumer | Consumer | Special Mention
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year		0
Fiscal year before current fiscal year		0
Two years before current fiscal year		0
Three years before current fiscal year		113
Four years before current fiscal year		0
Five years before current fiscal year		0
Amortized Cost of Revolving Loans		0
Total		113
Consumer | Consumer | Substandard
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	1
Fiscal year before current fiscal year	77	261
Two years before current fiscal year	365	91
Three years before current fiscal year	119	126
Four years before current fiscal year	144	42
Five years before current fiscal year	834	790
Amortized Cost of Revolving Loans	1	0
Total	1,540	1,311
Consumer | Consumer | Loss
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Five years before current fiscal year	1,183	500
Amortized Cost of Revolving Loans	0	0
Total	1,183	500
Consumer | Consumer | Pass
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	22,455	358,609
Fiscal year before current fiscal year	347,894	242,942
Two years before current fiscal year	226,217	59,352
Three years before current fiscal year	52,531	50,899
Four years before current fiscal year	44,247	20,065
Five years before current fiscal year	24,122	10,958
Amortized Cost of Revolving Loans	52,079	54,038
Total	769,545	796,863
Consumer | Consumer Loan
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	772,268	798,787
Financing Receivable, Allowance For Credit Loss, Write Off, By Origination Year [Abstract]
Year-to-date gross charge-offs, Current fiscal year	0
Year-to-date gross charge-offs, fiscal year before current fiscal year	904
Year-to-date gross charge-offs, two years before current fiscal year	1,186
Year-to-date gross charge-offs, three years before current fiscal year	200
Year-to-date gross charge-offs, four years before current fiscal year	180
Year-to-date gross charge-offs, five years before current fiscal year	216
Year-to-date gross charge-offs, Amortized Cost of Revolving Loans	0
Year-to-date gross charge-offs, Total	2,686
Consumer | Consumer Loan | Accruing Loans 30 - 59 Days Past Due
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	$ 4,415	$ 5,173

ALLOWANCE FOR CREDIT LOSSES A_3

ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Changes in the allowance
Beginning balance	$ 63,738	$ 68,097
Provision (credit) for credit losses on loans	1,615	(2,931)
Subtotal	65,353	65,166
Charge-offs	3,465	1,470
Recoveries	1,211	1,058
Net charge-offs (recoveries)	2,254	412
Ending balance	63,099	64,754
Commercial, financial and agricultural:
Changes in the allowance
Beginning balance	2	77
Provision (credit) for credit losses on loans	(1)	(41)
Subtotal	1	36
Charge-offs	0	0
Recoveries	0	0
Net charge-offs (recoveries)	0	0
Ending balance	1	36
Other
Changes in the allowance
Beginning balance	6,822	10,314
Provision (credit) for credit losses on loans	837	(848)
Subtotal	7,659	9,466
Charge-offs	779	254
Recoveries	250	350
Net charge-offs (recoveries)	529	(96)
Ending balance	7,130	9,562
Construction | Real Estate
Changes in the allowance
Beginning balance	2,867	3,908
Provision (credit) for credit losses on loans	220	(72)
Subtotal	3,087	3,836
Charge-offs	0	0
Recoveries	0	0
Net charge-offs (recoveries)	0	0
Ending balance	3,087	3,836
Residential Mortgage | Real Estate
Changes in the allowance
Beginning balance	11,804	12,463
Provision (credit) for credit losses on loans	(44)	(1,532)
Subtotal	11,760	10,931
Charge-offs	0	0
Recoveries	53	112
Net charge-offs (recoveries)	(53)	(112)
Ending balance	11,813	11,043
Home Equity | Real Estate
Changes in the allowance
Beginning balance	4,114	4,509
Provision (credit) for credit losses on loans	(77)	132
Subtotal	4,037	4,641
Charge-offs	0	0
Recoveries	0	0
Net charge-offs (recoveries)	0	0
Ending balance	4,037	4,641
Commercial Mortgage | Real Estate
Changes in the allowance
Beginning balance	17,902	18,411
Provision (credit) for credit losses on loans	(430)	(2,356)
Subtotal	17,472	16,055
Charge-offs	0	0
Recoveries	0	0
Net charge-offs (recoveries)	0	0
Ending balance	17,472	16,055
Consumer | Consumer
Changes in the allowance
Beginning balance	20,227	18,415
Provision (credit) for credit losses on loans	1,110	1,786
Subtotal	21,337	20,201
Charge-offs	2,686	1,216
Recoveries	908	596
Net charge-offs (recoveries)	1,778	620
Ending balance	$ 19,559	$ 19,581

ALLOWANCE FOR CREDIT LOSSES A_4

ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURE (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Provision (credit) for credit losses	$ 1,852	$ (3,195)
Provision (credit) for credit losses on loans	1,615	(2,931)
Provision (credit) for off-balance sheet credit exposures	$ 300	$ (300)

ALLOWANCE FOR CREDIT LOSSES A_5

ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURE (Reserve For Off-Balance Sheet Credit Exposure) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Beginning balance	$ 3,243	$ 4,804
Provision (credit) for off-balance sheet credit exposures	300	(300)
Ending balance	3,480	4,540
Adjusted balance at beginning of period
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]
Provision (credit) for off-balance sheet credit exposures	$ 237	$ (264)

INVESTMENTS IN UNCONSOLIDATED_3

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]
Investments in low income housing tax credit partnerships	$ 40,225	$ 40,939
Investments in common securities of statutory trusts	1,547	1,547
Investments in affiliates	136	110
Other	4,045	4,045
Total	$ 45,953	$ 46,641

INVESTMENTS IN UNCONSOLIDATED_4

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2021
Schedule of Investments [Line Items]
Equity method investments		$ 100	$ 100
Total unfunded commitments		24,729
Other
Schedule of Investments [Line Items]
Total unfunded commitments		1,123	1,300
Swell Financial, Inc.
Schedule of Investments [Line Items]
Equity method investments	$ 2,000
Other intangible assets and services provided in exchange for common stock	1,500
Cash in exchange for preferred stock	$ 500
JAM FINTOP Banktech Fund, L.P.
Schedule of Investments [Line Items]
Equity method investments				$ 2,000	$ 2,000
Fund Commitments
Schedule of Investments [Line Items]
Funded commitments, LIHTC		47,800	$ 47,800
Unfunded Commitments
Schedule of Investments [Line Items]
Funded commitments, LIHTC		$ 23,600

INVESTMENTS IN UNCONSOLIDATED_5

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES (Future Commitments) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Other Commitments [Line Items]
2023 (remainder)	$ 10,816
2024	9,280
2025	4,248
2026	26
2027	26
2028	20
Thereafter	313
Total unfunded commitments	24,729
LIHTC
Other Commitments [Line Items]
2023 (remainder)	9,693
2024	9,280
2025	4,248
2026	26
2027	26
2028	20
Thereafter	313
Total unfunded commitments	23,606
Other
Other Commitments [Line Items]
2023 (remainder)	1,123
2024	0
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total unfunded commitments	$ 1,123	$ 1,300

INVESTMENTS IN UNCONSOLIDATED_6

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES (Amortization Expense and Tax Credits Recognized With Investments in LIHTC) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]
Amortization expense recognized in income tax expense	$ 714	$ 607
Tax credits recognized in income tax expense	$ 892	$ 709

MORTGAGE SERVICING RIGHTS (Chan

MORTGAGE SERVICING RIGHTS (Changes In Mortgage Servicing Rights) (Details) - Mortgage servicing rights - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Changes in other intangible assets
Balance, beginning of period	$ 9,074	$ 9,738
Additions	58	276
Amortization	(189)	(534)
Balance, end of period	$ 8,943	$ 9,480

MORTGAGE SERVICING RIGHTS (Narr

MORTGAGE SERVICING RIGHTS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Gain on sale of residential mortgage loans	$ 128	$ 769
Mortgage servicing rights
Acquired Finite-Lived Intangible Assets [Line Items]
Gain on sale of residential mortgage loans	100	300
Amortization	$ (189)	$ (534)

MORTGAGE SERVICING RIGHTS (Fair

MORTGAGE SERVICING RIGHTS (Fair Market Value And Key Assumptions Used In Determining Fair Market Value of Mortgage Servicing Rights) (Details) - Mortgage servicing rights $ in Thousands	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Finite-Lived Intangible Assets [Line Items]
Fair market value	$ 11,875	$ 12,061	$ 11,166	$ 10,504
Weighted-average discount rate
Finite-Lived Intangible Assets [Line Items]
Weighted average prepayment speed assumption	0.095		0.095
Weighted-average prepayment speed assumption
Finite-Lived Intangible Assets [Line Items]
Weighted average prepayment speed assumption	0.103		0.183

MORTGAGE SERVICING RIGHTS (Gros

MORTGAGE SERVICING RIGHTS (Gross Carrying Value, Accumulated Amortization, Net Carrying Value) (Details) - Mortgage servicing rights - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Gross carrying value, accumulated amortization and net carrying value related to intangible assets
Gross Carrying Value	$ 69,471	$ 69,413
Accumulated Amortization	(60,528)	(60,339)
Net Carrying Value	$ 8,943	$ 9,074	$ 9,480	$ 9,738

MORTGAGE SERVICING RIGHTS (Esti

MORTGAGE SERVICING RIGHTS (Estimated Amortization Expense) (Details) - Mortgage servicing rights - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Estimated Amortization Expense
2023 (remainder)	$ 668
2024	833
2025	756
2026	684
2027	610
2028	548
Thereafter	4,844
Net Carrying Value	$ 8,943	$ 9,074	$ 9,480	$ 9,738

DERIVATIVES (Additional Informa

DERIVATIVES (Additional Information) (Details) $ in Millions	Mar. 31, 2023 USD ($)
Back-to-back swap agreements | Derivatives Not Designated as Hedging Instruments
DERIVATIVES
Notional amount	$ 32.1
Cash pledged as collateral	(8.5)
Interest rate swap agreements | Designated as Hedging Instrument
DERIVATIVES
Notional amount	$ 115.5
Fixed interest rate	2.095%

DERIVATIVES (Balance Sheet) (De

DERIVATIVES (Balance Sheet) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivatives Not Designated as Hedging Instruments | Interest rate lock and forward sale commitments
Asset Derivatives
Fair Value	$ 0	$ 10
Liability Derivatives
Fair Value	0	2
Derivatives Not Designated as Hedging Instruments | Back-to-back swap agreements
Asset Derivatives
Fair Value	3,636	4,611
Liability Derivatives
Fair Value	3,636	4,611
Designated as Hedging Instrument | Interest rate swap agreements
Asset Derivatives
Fair Value	4,444	5,986
Liability Derivatives
Fair Value	$ 0	$ 0

DERIVATIVES (Income Statement)

DERIVATIVES (Income Statement) (Details) - Derivatives Not in Cash Flow Hedging Relationship - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivatives Not Designated as Hedging Instruments | Interest rate lock and forward sale commitments
DERIVATIVES
Location of Gain (Loss) Recognized in Earnings on Derivatives	Mortgage banking income	Mortgage banking income
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ (8)	$ 143
Derivatives Not Designated as Hedging Instruments | Risk participation agreements
DERIVATIVES
Location of Gain (Loss) Recognized in Earnings on Derivatives		Other service charges and fees
Amount of Gain (Loss) Recognized in Earnings on Derivatives		$ 16
Designated as Hedging Instrument | Interest rate swap agreements
DERIVATIVES
Location of Gain (Loss) Recognized in Earnings on Derivatives	Interest Income (Expense), Net	Interest Income (Expense), Net
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 57	$ 0

SHORT-TERM BORROWINGS AND LON_3

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - Narrative (Details)		1 Months Ended		3 Months Ended
	Oct. 20, 2020 USD ($)	Dec. 31, 2004 USD ($)	Sep. 30, 2004 USD ($)	Mar. 31, 2023 USD ($) period	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Short-term borrowings				$ 25,000,000	$ 5,000,000
Long term borrowings				155,920,000	105,859,000
Unamortized debt issuance costs				$ (627,000)	(688,000)
Subordinated Debt
Debt Instrument [Line Items]
Number of periods interest can be deferred | period				20
C P B Capital Trust I V
Debt Instrument [Line Items]
Trust preferred securities issued value			$ 30,000,000
Trust preferred securities, variable rate basis			three-month LIBOR
Trust preferred securities, basis spread on variable rate			2.45%
Common securities issued			$ 900,000
C P B Capital Trust I V | Subordinated Debt
Debt Instrument [Line Items]
Long term borrowings				$ 30,900,000
C P B Capital Trust V
Debt Instrument [Line Items]
Trust preferred securities issued value		$ 20,000,000
Trust preferred securities, variable rate basis		three-month LIBOR
Trust preferred securities, basis spread on variable rate		1.87%
Common securities issued		$ 600,000
C P B Capital Trust V | Subordinated Debt
Debt Instrument [Line Items]
Long term borrowings				$ 20,600,000
Maximum | Subordinated Debt
Debt Instrument [Line Items]
Redemption period				90 days
Federal Home Loan Bank Borrowings
Debt Instrument [Line Items]
Line of Credit, maximum borrowing capacity				$ 2,050,000,000	2,230,000,000
Unused borrowings available				1,940,000,000	2,190,000,000
Short-term borrowings				$ 25,000,000	5,000,000
Short-term borrowings, interest rate				5.07%
Letters of Credit, outstanding				$ 36,000,000	36,000,000
Long term borrowings				50,000,000
Federal Home Loan Bank Borrowings | Asset Pledged as Collateral
Debt Instrument [Line Items]
Net loans and leases				$ 3,190,000,000
Federal Home Loan Bank Borrowings | Minimum
Debt Instrument [Line Items]
Long term borrowings, interest rate				4.02%
Federal Home Loan Bank Borrowings | Maximum
Debt Instrument [Line Items]
Long term borrowings, interest rate				4.62%
Federal Reserve discount window line of credit
Debt Instrument [Line Items]
Unused borrowings available				$ 76,600,000	75,900,000
Federal Reserve discount window line of credit | Asset Pledged as Collateral
Debt Instrument [Line Items]
Net loans and leases				123,200,000	$ 125,000,000
Notes | Subordinated notes
Debt Instrument [Line Items]
Long term borrowings				$ 54,400,000
Debt face amount	$ 55,000,000
Debt instrument, term	10 years
Stated interest rate, first five years	4.75%			0.0475%
Unamortized debt issuance costs				$ (600,000)
Notes | Subordinated notes | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate	4.56%

SHORT-TERM BORROWINGS AND LON_4

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - Subordinated Debentures (Details) - Junior Subordinated Debt - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
44926	$ 51,547	$ 51,547
Trust IV
Debt Instrument [Line Items]
44926	30,928	30,928
Trust V
Debt Instrument [Line Items]
44926	$ 20,619	$ 20,619

SHORT-TERM BORROWINGS AND LON_5

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - Subordinated Notes (Details) - Notes - Subordinated notes - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Oct. 20, 2020
Debt Instrument [Line Items]
Subordinated notes	$ 55,000	$ 55,000
Stated interest rate, first five years	0.0475%		4.75%

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue from External Customer [Line Items]
In-scope other operating income	$ 6,156	$ 7,113
Out-of-scope other operating income	4,853	2,438
Total other operating income	11,009	9,551
Mortgage banking income
Revenue from External Customer [Line Items]
In-scope other operating income	151	235
Service charges on deposit accounts
Revenue from External Customer [Line Items]
In-scope other operating income	305	1,861
Other service charges and fees
Revenue from External Customer [Line Items]
In-scope other operating income	4,379	3,863
Income on fiduciary activities
Revenue from External Customer [Line Items]
In-scope other operating income	$ 1,321	$ 1,154

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - Restricted Stock Awards and Units $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Activity of nonvested shares
Nonvested restricted stock awards and units, beginning of period (in shares) | shares	352,465
Changes during the period:
Granted (in shares) | shares	111,680
Vested (in shares) | shares	(128,350)
Forfeited (in shares) | shares	(46,801)
Nonvested restricted stock awards and units, end of period (in shares) | shares	288,994
Weighted Average Grant Date Fair Value
Nonvested restricted stock awards and units, beginning of period (in dollars per share) | $ / shares	$ 23.40
Changes during the period:
Granted (in dollars per share) | $ / shares	23.05
Vested (in dollars per share) | $ / shares	23.17
Forfeited (in dollars per share) | $ / shares	25.17
Nonvested restricted stock awards and units, end of period (in dollars per share) | $ / shares	$ 23.08
Fair Value of Restricted Stock Awards and Units That Vested During the Period, Vested | $	$ 3,017
Minimum
Changes during the period:
Award vesting period	3 years
Maximum
Changes during the period:
Award vesting period	5 years

PENSION AND SUPPLEMENTAL EXEC_3

PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS (Defined Benefit Retirement Plan) (Details) - Pension Plan - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS
Consecutive period of service considered for highest average annual salaries for calculation of benefits under the reactivated plan	60 months
Increase in unrecognized prior service cost due to reactivation of the plan	$ 5,900
Amortization period of increase in prior service cost	13 years
Settlement expense	$ 0	$ 0

PENSION AND SUPPLEMENTAL EXEC_4

PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS (Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2022
Pension Plan
PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS
Interest cost	$ 0		$ 0
Expected return on plan assets	0		(12)
Amortization of net actuarial loss	0		112
Settlement	0		0
Net periodic benefit cost	0		100
Pension Plan | Maximum
PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS
Settlement		$ 4,900
SERPs
PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS
Interest cost	112		75
Amortization of net actuarial (gain) loss	(19)		21
Amortization of net transition obligation	2		4
Net periodic benefit cost	95		$ 100
Projected benefit obligation	$ 9,200			$ 9,200

OPERATING LEASES (Lease Cost an

OPERATING LEASES (Lease Cost and Other Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Lease cost:
Operating lease cost	$ 1,325	$ 1,390
Variable lease cost	888	830
Less: Sublease income	(17)	(12)
Total lease cost	2,196	2,208
Operating cash flows from operating leases	$ (1,390)	$ (1,506)
Weighted-average remaining lease term - operating leases	11 years 2 months 19 days	11 years 5 months 26 days
Weighted-average discount rate - operating leases	3.96%	3.92%

OPERATING LEASES (Undiscounted

OPERATING LEASES (Undiscounted Cash Flows And Reconciliation To Operating Lease Liabilities) (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Undiscounted Cash Flows
2023 (remainder)	$ 3,736
2024	4,467
2025	4,181
2026	4,118
2027	4,108
2028	3,509
Thereafter	19,682
Total	43,801
Lease Liability Discount on Cash Flows
2023 (remainder)	994
2024	1,210
2025	1,085
2026	965
2027	840
2028	723
Thereafter	2,908
Total	8,725
Lease Liability
2023 (remainder)	2,742
2024	3,257
2025	3,096
2026	3,153
2027	3,268
2028	2,786
Thereafter	16,774
Total	$ 35,076

OPERATING LEASES (Lease Income)

OPERATING LEASES (Lease Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Net occupancy	Net occupancy
Total rental income recognized	$ 562	$ 951

OPERATING LEASES (Future Minimu

OPERATING LEASES (Future Minimum Rental Income) (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Future minimum rental income for those noncancellable operating leases that had initial lease terms in excess of one year
2023 (remainder)	$ 1,008
2024	1,189
2025	1,074
2026	939
2027	882
2028	532
Thereafter	1,839
Total	$ 7,463

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		15 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023
Before Tax
Amortization	$ (1,668)	$ 0
Other comprehensive income (loss), before tax	15,310	(108,361)
Tax Effect
Other comprehensive income, tax	4,054	(28,974)
Net of Tax
Other comprehensive income	11,256	(79,387)
Net unrealized gains on investment securities
Before Tax
Other comprehensive income (loss) before reclassification, before tax	15,258	(108,448)
Amortization	1,668		$ 7,900
Other comprehensive income (loss), before tax	16,926	(108,448)
Tax Effect
Other comprehensive income (loss) before reclassifications, tax	4,052	(28,998)
Less: Amortization of unrealized losses on investment securities transferred to HTM	443
Other comprehensive income, tax	4,495	(28,998)
Net of Tax
Other comprehensive income (loss), before reclassifications, net of tax	11,206	(79,450)
Amortization of unrealized losses on investment securities transferred to held-to-maturity	1,225
Other comprehensive income	12,431	(79,450)
Net change in fair value of derivatives:
Before Tax
Other comprehensive income (loss) before reclassification, before tax	(1,599)	(50)
Other comprehensive income (loss), before tax	(1,599)	(50)
Tax Effect
Other comprehensive income (loss) before reclassifications, tax	(436)	(13)
Other comprehensive income, tax	(436)	(13)
Net of Tax
Other comprehensive income (loss), before reclassifications, net of tax	(1,163)	(37)
Other comprehensive income	(1,163)	(37)
Amortization of net actuarial loss
Before Tax
Reclassification from AOCI, before tax	(19)	133
Tax Effect
Reclassification from AOCI, tax	(5)	36
Net of Tax
Reclassification from AOCI, net of tax	(14)	97
Amortization of net transition obligation
Before Tax
Reclassification from AOCI, before tax	2	4
Tax Effect
Reclassification from AOCI, tax	0	1
Net of Tax
Reclassification from AOCI, net of tax	2	3
SERPs
Before Tax
Other comprehensive income (loss), before tax	17	(137)
Tax Effect
Other comprehensive income, tax	5	(37)
Net of Tax
Other comprehensive income (loss), before reclassifications, net of tax	0	0
Reclassification from AOCI, net of tax	(12)	100
Other comprehensive income	$ (12)	$ 100

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Changes in AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Changes in each component of AOCI, net of tax
Balance at beginning of period	$ 452,871
Other comprehensive income	11,256	$ (79,387)
Balance at end of period	470,926
Investment Securities
Changes in each component of AOCI, net of tax
Balance at beginning of period	(149,109)	(3,666)
Other comprehensive (loss) income before reclassifications	11,206	(79,450)
Reclassification adjustments from AOCI	1,225	0
Other comprehensive income	12,431	(79,450)
Balance at end of period	(136,678)	(83,116)
Derivatives
Changes in each component of AOCI, net of tax
Balance at beginning of period	4,645	0
Other comprehensive (loss) income before reclassifications	(1,163)	(37)
Reclassification adjustments from AOCI	0	0
Other comprehensive income	(1,163)	(37)
Balance at end of period	3,482	(37)
SERPs
Changes in each component of AOCI, net of tax
Balance at beginning of period	480	(4,294)
Other comprehensive (loss) income before reclassifications	0	0
Reclassification adjustments from AOCI	(12)	100
Other comprehensive income	(12)	100
Balance at end of period	468	(4,194)
Accum. Other Comp. Loss
Changes in each component of AOCI, net of tax
Balance at beginning of period	(143,984)	(7,960)
Other comprehensive (loss) income before reclassifications	10,043	(79,487)
Reclassification adjustments from AOCI	1,213	100
Other comprehensive income	11,256	(79,387)
Balance at end of period	$ (132,728)	$ (87,347)

ACCUMULATED OTHER COMPREHENSI_5

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclassified out of AOCI) (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Amounts reclassified out of each component of accumulated other comprehensive income
Amortization of unrealized losses on investment securities transferred to HTM	$ 1,668	$ 0
Total reclassification adjustments from AOCI for the period, net of tax	16,187	19,438
Amortization of net actuarial losses
Amounts reclassified out of each component of accumulated other comprehensive income
Amortization	19	(133)
Reclassification from AOCI, tax	(5)	36
Amounts reclassified from AOCI	14	(97)
Amortization of net transition obligation
Amounts reclassified out of each component of accumulated other comprehensive income
Amortization	(2)	(4)
Reclassification from AOCI, tax	0	1
Amounts reclassified from AOCI	(2)	(3)
SERPs
Amounts reclassified out of each component of accumulated other comprehensive income
Amounts reclassified from AOCI	12	(100)
Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Total reclassification adjustments from AOCI for the period, net of tax	(1,213)	(100)
Amount Reclassified from AOCI | Accumulated Net Unrealized Loss on Held To Maturity Securities
Amounts reclassified out of each component of accumulated other comprehensive income
Amortization of unrealized losses on investment securities transferred to HTM	(1,668)	0
Tax effect	443	0
Amortization of unrealized losses on investment securities transferred to held-to-maturity	(1,225)	0
Amount Reclassified from AOCI | Amortization of net actuarial losses
Amounts reclassified out of each component of accumulated other comprehensive income
Amortization	19	(133)
Amount Reclassified from AOCI | Amortization of net transition obligation
Amounts reclassified out of each component of accumulated other comprehensive income
Amortization	(2)	(4)
Amount Reclassified from AOCI | SERPs
Amounts reclassified out of each component of accumulated other comprehensive income
Amortization	17	(137)
Reclassification from AOCI, tax	(5)	37
Amounts reclassified from AOCI	$ 12	$ (100)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
SHARE-BASED COMPENSATION
Net income	$ 16,187	$ 19,438
Weighted average shares outstanding - basic	26,999,138	27,591,390
Weighted average shares outstanding - diluted	27,122,012	27,874,924
Basic earnings per common share (in dollars per share)	$ 0.60	$ 0.70
Diluted earnings per common share (in dollars per share)	$ 0.60	$ 0.70
Stock Option
SHARE-BASED COMPENSATION
Dilutive effect of share-based compensation arrangements	122,874	283,534

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES (Narrative) (Details)	3 Months Ended
	Mar. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Loans, weighted average discount rate, percent	7.33%
Time deposits, weighted average discount rate, percent	5.14%
Long -term debt, weighted average discount rate, percent	6.81%
Transfers of financial assets (liability) out of Level 3	$ 0
Mortgage revenue bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 7,305,000	$ 7,268,000	$ 8,081,000	$ 8,619,000
Mortgage revenue bonds | States and political subdivisions
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of investment securities held | security	2
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 6,594,000	6,584,000	7,229,000	7,681,000
Mortgage revenue bonds | Residential - Non-government agencies
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of investment securities held | security	2
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 711,000	$ 684,000	$ 852,000	$ 938,000
Weighted average | Mortgage revenue bonds | Weighted-average discount rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Weighted average prepayment speed assumption	0.0615	0.0641

FAIR VALUE OF ASSETS AND LIAB_2

FAIR VALUE OF ASSETS AND LIABILITIES (Carrying Amount and Estimated Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financial assets
Cash and due from banks	$ 108,535	$ 97,150
Interest-bearing deposits in other banks	90,247	14,894
Loans held for sale	0	1,105
Accrued interest receivable	20,473	20,345
Financial liabilities
Noninterest-bearing demand	2,028,087	2,092,823
Time	1,147,293	991,205
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets
Cash and due from banks	108,535	97,150
Interest-bearing deposits in other banks	90,247	14,894
Investment securities	0	0
Loans held for sale		0
Loans, net of ACL	0	0
Accrued interest receivable	20,473	20,345
Financial liabilities
Noninterest-bearing demand	2,028,087	2,092,823
Interest-bearing demand and savings and money market	3,571,588	3,652,195
Time	0	0
FHLB advances and other short-term borrowings	0
Long-term debt	0	0
Accrued interest payable (included in other liabilities)	7,688	4,739
Significant Other Observable Inputs (Level 2)
Financial assets
Cash and due from banks	0	0
Interest-bearing deposits in other banks	0	0
Investment securities	1,279,183	1,261,306
Loans held for sale		1,105
Loans, net of ACL	0	0
Accrued interest receivable	0	0
Financial liabilities
Noninterest-bearing demand	0	0
Interest-bearing demand and savings and money market	0	0
Time	0	0
FHLB advances and other short-term borrowings	25,000
Long-term debt	0	0
Accrued interest payable (included in other liabilities)	0	0
Significant Unobservable Inputs (Level 3)
Financial assets
Cash and due from banks	0	0
Interest-bearing deposits in other banks	0	0
Investment securities	7,305	7,268
Loans held for sale		0
Loans, net of ACL	5,075,864	5,043,436
Accrued interest receivable	0	0
Financial liabilities
Noninterest-bearing demand	0	0
Interest-bearing demand and savings and money market	0	0
Time	1,132,282	975,086
FHLB advances and other short-term borrowings	0
Long-term debt	138,077	93,729
Accrued interest payable (included in other liabilities)	0	0
Carrying Amount
Financial assets
Cash and due from banks	108,535	97,150
Interest-bearing deposits in other banks	90,247	14,894
Investment securities	1,345,784	1,336,677
Loans held for sale		1,105
Loans, net of ACL	5,494,298	5,491,728
Accrued interest receivable	20,473	20,345
Financial liabilities
Noninterest-bearing demand	2,028,087	2,092,823
Interest-bearing demand and savings and money market	3,571,588	3,652,195
Time	1,147,293	991,205
FHLB advances and other short-term borrowings	25,000
Long-term debt	155,920	105,859
Accrued interest payable (included in other liabilities)	7,688	4,739
Estimated Fair Value
Financial assets
Cash and due from banks	108,535	97,150
Interest-bearing deposits in other banks	90,247	14,894
Investment securities	1,286,488	1,268,574
Loans held for sale		1,105
Loans, net of ACL	5,075,864	5,043,436
Accrued interest receivable	20,473	20,345
Financial liabilities
Noninterest-bearing demand	2,028,087	2,092,823
Interest-bearing demand and savings and money market	3,571,588	3,652,195
Time	1,132,282	975,086
FHLB advances and other short-term borrowings	25,000
Long-term debt	138,077	93,729
Accrued interest payable (included in other liabilities)	7,688	4,739
Commitments to extend credit
Financial liabilities
Off-balance sheet financial instruments, Notional Amount	1,382,978	1,328,791
Commitments to extend credit | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial liabilities
Off-balance sheet financial instruments:	0	0
Commitments to extend credit | Significant Other Observable Inputs (Level 2)
Financial liabilities
Off-balance sheet financial instruments:	1,365	1,270
Commitments to extend credit | Significant Unobservable Inputs (Level 3)
Financial liabilities
Off-balance sheet financial instruments:	0	0
Commitments to extend credit | Carrying Amount
Financial liabilities
Off-balance sheet financial instruments:	0	0
Commitments to extend credit | Estimated Fair Value
Financial liabilities
Off-balance sheet financial instruments:	1,365	1,270
Standby letters of credit and financial guarantees written
Financial liabilities
Off-balance sheet financial instruments, Notional Amount	5,194	5,367
Standby letters of credit and financial guarantees written | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial liabilities
Off-balance sheet financial instruments:	0	0
Standby letters of credit and financial guarantees written | Significant Other Observable Inputs (Level 2)
Financial liabilities
Off-balance sheet financial instruments:	78	80
Standby letters of credit and financial guarantees written | Significant Unobservable Inputs (Level 3)
Financial liabilities
Off-balance sheet financial instruments:	0	0
Standby letters of credit and financial guarantees written | Carrying Amount
Financial liabilities
Off-balance sheet financial instruments:	0	0
Standby letters of credit and financial guarantees written | Estimated Fair Value
Financial liabilities
Off-balance sheet financial instruments:	78	80
Assets
Financial liabilities
Notional Amount	(32,136)	(32,335)
Assets | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial liabilities
Financial Liabilities Fair Value Disclosure	0	0
Assets | Significant Other Observable Inputs (Level 2)
Financial liabilities
Financial Liabilities Fair Value Disclosure	0	0
Assets | Significant Unobservable Inputs (Level 3)
Financial liabilities
Financial Liabilities Fair Value Disclosure	(3,636)	(4,611)
Assets | Carrying Amount
Financial liabilities
Financial Liabilities Fair Value Disclosure	(3,636)	(4,611)
Assets | Estimated Fair Value
Financial liabilities
Financial Liabilities Fair Value Disclosure	(3,636)	(4,611)
Liabilities
Financial liabilities
Notional Amount	(32,136)	(32,335)
Financial Liabilities Fair Value Disclosure		(4,611)
Liabilities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial liabilities
Financial Liabilities Fair Value Disclosure	0	0
Liabilities | Significant Other Observable Inputs (Level 2)
Financial liabilities
Financial Liabilities Fair Value Disclosure	0	0
Liabilities | Significant Unobservable Inputs (Level 3)
Financial liabilities
Financial Liabilities Fair Value Disclosure	(3,636)	(4,611)
Liabilities | Carrying Amount
Financial liabilities
Financial Liabilities Fair Value Disclosure	(3,636)
Liabilities | Estimated Fair Value
Financial liabilities
Financial Liabilities Fair Value Disclosure	(3,636)
Forward interest rate contracts
Financial liabilities
Notional Amount		(1,110)
Risk participation agreements
Financial liabilities
Notional Amount	(36,634)	(36,835)
Risk participation agreements | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial liabilities
Assets, Fair Value Disclosure, Recurring	0	0
Risk participation agreements | Significant Other Observable Inputs (Level 2)
Financial liabilities
Assets, Fair Value Disclosure, Recurring	0	0
Risk participation agreements | Significant Unobservable Inputs (Level 3)
Financial liabilities
Assets, Fair Value Disclosure, Recurring	0	0
Risk participation agreements | Carrying Amount
Financial liabilities
Assets, Fair Value Disclosure, Recurring	0	0
Risk participation agreements | Estimated Fair Value
Financial liabilities
Assets, Fair Value Disclosure, Recurring	0	0
Interest rate swap agreements
Financial liabilities
Notional Amount	(115,545)	(115,545)
Interest rate swap agreements | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial liabilities
Financial Liabilities Fair Value Disclosure	0	0
Interest rate swap agreements | Significant Other Observable Inputs (Level 2)
Financial liabilities
Financial Liabilities Fair Value Disclosure	0	0
Interest rate swap agreements | Significant Unobservable Inputs (Level 3)
Financial liabilities
Financial Liabilities Fair Value Disclosure	(4,444)	(5,986)
Interest rate swap agreements | Carrying Amount
Financial liabilities
Financial Liabilities Fair Value Disclosure	(4,444)	(5,986)
Interest rate swap agreements | Estimated Fair Value
Financial liabilities
Financial Liabilities Fair Value Disclosure	$ (4,444)	(5,986)
Recurring basis | Forward interest rate contracts | Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial liabilities
Assets, Fair Value Disclosure, Recurring		0
Recurring basis | Forward interest rate contracts | Significant Other Observable Inputs (Level 2)
Financial liabilities
Assets, Fair Value Disclosure, Recurring		8
Recurring basis | Forward interest rate contracts | Significant Unobservable Inputs (Level 3)
Financial liabilities
Assets, Fair Value Disclosure, Recurring		0
Recurring basis | Forward interest rate contracts | Carrying Amount
Financial liabilities
Assets, Fair Value Disclosure, Recurring		8
Recurring basis | Forward interest rate contracts | Estimated Fair Value
Financial liabilities
Assets, Fair Value Disclosure, Recurring		$ 8

FAIR VALUE OF ASSETS AND LIAB_3

FAIR VALUE OF ASSETS AND LIABILITIES (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	$ 687,188	$ 671,794
States and political subdivisions
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	139,521	135,752
Corporate securities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	31,097	30,211
U.S. Treasury obligations and direct obligations of U.S. Government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	24,343	25,715
Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	421,484	423,803
Commercial - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	45,800	46,144
Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	8,637	8,662
Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	16,306	1,507
Recurring basis
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	687,188	671,794
Derivatives	4,444	5,994
Total	691,632	677,788
Recurring basis | Forward interest rate contracts
Assets and liabilities measured at fair value
Derivatives		8
Recurring basis | Interest rate swap agreements
Assets and liabilities measured at fair value
Derivatives	4,444	5,986
Recurring basis | States and political subdivisions
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	139,521	135,752
Recurring basis | Corporate securities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	31,097	30,211
Recurring basis | U.S. Treasury obligations and direct obligations of U.S. Government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	24,343	25,715
Recurring basis | Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	421,484	423,803
Recurring basis | Commercial - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	45,800	8,662
Recurring basis | Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	8,637	46,144
Recurring basis | Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	16,306	1,507
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Derivatives	0	0
Total	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Forward interest rate contracts
Assets and liabilities measured at fair value
Derivatives		0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Interest rate swap agreements
Assets and liabilities measured at fair value
Derivatives	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | States and political subdivisions
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Corporate securities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | U.S. Treasury obligations and direct obligations of U.S. Government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Commercial - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Significant Other Observable Inputs (Level 2) | Recurring basis
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	679,883	664,526
Derivatives	0	8
Total	679,883	664,534
Significant Other Observable Inputs (Level 2) | Recurring basis | Forward interest rate contracts
Assets and liabilities measured at fair value
Derivatives		8
Significant Other Observable Inputs (Level 2) | Recurring basis | Interest rate swap agreements
Assets and liabilities measured at fair value
Derivatives	0	0
Significant Other Observable Inputs (Level 2) | Recurring basis | States and political subdivisions
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	132,927	129,168
Significant Other Observable Inputs (Level 2) | Recurring basis | Corporate securities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	31,097	30,211
Significant Other Observable Inputs (Level 2) | Recurring basis | U.S. Treasury obligations and direct obligations of U.S. Government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	24,343	25,715
Significant Other Observable Inputs (Level 2) | Recurring basis | Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	421,484	423,803
Significant Other Observable Inputs (Level 2) | Recurring basis | Commercial - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	45,800	7,978
Significant Other Observable Inputs (Level 2) | Recurring basis | Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	7,926	46,144
Significant Other Observable Inputs (Level 2) | Recurring basis | Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	16,306	1,507
Significant Unobservable Inputs (Level 3) | Recurring basis
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	7,305	7,268
Derivatives	4,444	5,986
Total	11,749	13,254
Significant Unobservable Inputs (Level 3) | Recurring basis | Forward interest rate contracts
Assets and liabilities measured at fair value
Derivatives		0
Significant Unobservable Inputs (Level 3) | Recurring basis | Interest rate swap agreements
Assets and liabilities measured at fair value
Derivatives	4,444	5,986
Significant Unobservable Inputs (Level 3) | Recurring basis | States and political subdivisions
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	6,594	6,584
Significant Unobservable Inputs (Level 3) | Recurring basis | Corporate securities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Significant Unobservable Inputs (Level 3) | Recurring basis | U.S. Treasury obligations and direct obligations of U.S. Government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Significant Unobservable Inputs (Level 3) | Recurring basis | Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	0
Significant Unobservable Inputs (Level 3) | Recurring basis | Commercial - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	0	684
Significant Unobservable Inputs (Level 3) | Recurring basis | Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	711	0
Significant Unobservable Inputs (Level 3) | Recurring basis | Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale debt securities, at fair value	$ 0	$ 0

FAIR VALUE OF ASSETS AND LIAB_4

FAIR VALUE OF ASSETS AND LIABILITIES (Level 3 Assets and Liabilities) (Details) - Mortgage revenue bonds - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Aggregate fair value / Balance at the beginning of the period	$ 7,268	$ 8,619
Principal payments received	(62)	(60)
Unrealized net gain included in other comprehensive income	99	(478)
Aggregate fair value / Balance at the end of the period	7,305	8,081
States and political subdivisions
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Aggregate fair value / Balance at the beginning of the period	6,584	7,681
Principal payments received	(56)	(55)
Unrealized net gain included in other comprehensive income	66	(397)
Aggregate fair value / Balance at the end of the period	6,594	7,229
Residential - Non-government agencies
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Aggregate fair value / Balance at the beginning of the period	684	938
Principal payments received	(6)	(5)
Unrealized net gain included in other comprehensive income	33	(81)
Aggregate fair value / Balance at the end of the period	$ 711	$ 852