XML 33 R26.htm IDEA: XBRL DOCUMENT v3.25.3
Securities (Tables)
 9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Investment Securities

The amortized cost and fair value of investment securities were as follows:

 

 

 

September 30, 2025

 

 

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

 

 

(Dollars in thousands)

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

7,935

 

 

$

1,725

 

 

$

—

 

 

$

9,660

 

Collateralized mortgage obligations

 

 

220,188

 

 

 

—

 

 

 

(2,999

)

 

 

217,189

 

Mortgage-backed securities

 

 

106,233

 

 

 

88

 

 

 

(801

)

 

 

105,520

 

Total

 

$

334,356

 

 

$

1,813

 

 

$

(3,800

)

 

$

332,369

 

Held to Maturity

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agencies

 

$

5,989

 

 

$

4

 

 

$

(1

)

 

$

5,992

 

States and political subdivisions

 

 

70,375

 

 

 

390

 

 

 

(1,430

)

 

 

69,335

 

Corporate debt securities

 

 

12,000

 

 

 

—

 

 

 

(2,160

)

 

 

9,840

 

Collateralized mortgage obligations

 

 

231,085

 

 

 

835

 

 

 

(12,483

)

 

 

219,437

 

Mortgage-backed securities

 

 

9,580,644

 

 

 

8,479

 

 

 

(912,055

)

 

 

8,677,068

 

Total

 

$

9,900,093

 

 

$

9,708

 

 

$

(928,129

)

 

$

8,981,672

 

 

 

 

December 31, 2024

 

 

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

 

 

(Dollars in thousands)

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

14,350

 

 

$

2,035

 

 

$

(60

)

 

$

16,325

 

Collateralized mortgage obligations

 

 

216,142

 

 

 

81

 

 

 

(3,233

)

 

 

212,990

 

Mortgage-backed securities

 

 

108,524

 

 

 

41

 

 

 

(920

)

 

 

107,645

 

Total

 

$

339,016

 

 

$

2,157

 

 

$

(4,213

)

 

$

336,960

 

Held to Maturity

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agencies

 

$

5,861

 

 

$

—

 

 

$

(44

)

 

$

5,817

 

States and political subdivisions

 

 

98,125

 

 

 

220

 

 

 

(2,510

)

 

 

95,835

 

Corporate debt securities

 

 

12,000

 

 

 

—

 

 

 

(3,840

)

 

 

8,160

 

Collateralized mortgage obligations

 

 

232,345

 

 

 

—

 

 

 

(24,128

)

 

 

208,217

 

Mortgage-backed securities

 

 

10,409,133

 

 

 

380

 

 

 

(1,345,063

)

 

 

9,064,450

 

Total

 

$

10,757,464

 

 

$

600

 

 

$

(1,375,585

)

 

$

9,382,479

 
Securities in Continuous Loss Position

Securities with unrealized losses, segregated by length of time, that have been in a continuous loss position were as follows:

 

 

 

September 30, 2025

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

 

 

Estimated Fair Value

 

 

Unrealized Losses

 

 

Estimated Fair Value

 

 

Unrealized Losses

 

 

Estimated Fair Value

 

 

Unrealized Losses

 

 

 

(Dollars in thousands)

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collateralized mortgage obligations

 

$

65,479

 

 

$

(395

)

 

$

147,510

 

 

$

(2,604

)

 

$

212,989

 

 

$

(2,999

)

Mortgage-backed securities

 

 

9,421

 

 

 

(62

)

 

 

89,917

 

 

 

(739

)

 

 

99,338

 

 

 

(801

)

Total

 

$

74,900

 

 

$

(457

)

 

$

237,427

 

 

$

(3,343

)

 

$

312,327

 

 

$

(3,800

)

Held to Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agencies

 

$

—

 

 

$

—

 

 

$

1,972

 

 

$

(1

)

 

$

1,972

 

 

$

(1

)

States and political subdivisions

 

 

—

 

 

 

—

 

 

 

23,522

 

 

 

(1,430

)

 

 

23,522

 

 

 

(1,430

)

Corporate debt securities

 

 

—

 

 

 

—

 

 

 

9,840

 

 

 

(2,160

)

 

 

9,840

 

 

 

(2,160

)

Collateralized mortgage obligations

 

 

566

 

 

 

(5

)

 

 

171,256

 

 

 

(12,478

)

 

 

171,822

 

 

 

(12,483

)

Mortgage-backed securities

 

 

4,778

 

 

 

(45

)

 

 

8,101,183

 

 

 

(912,010

)

 

 

8,105,961

 

 

 

(912,055

)

Total

 

$

5,344

 

 

$

(50

)

 

$

8,307,773

 

 

$

(928,079

)

 

$

8,313,117

 

 

$

(928,129

)

 

 

 

December 31, 2024

 

 

 

Less than 12 Months

 

 

12 Months or More

 

 

Total

 

 

 

Estimated Fair Value

 

 

Unrealized Losses

 

 

Estimated Fair Value

 

 

Unrealized Losses

 

 

Estimated Fair Value

 

 

Unrealized Losses

 

 

 

(Dollars in thousands)

 

Available for Sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

2,040

 

 

$

(60

)

 

$

—

 

 

$

—

 

 

$

2,040

 

 

$

(60

)

Collateralized mortgage obligations

 

 

47,114

 

 

 

(307

)

 

 

125,942

 

 

 

(2,926

)

 

 

173,056

 

 

 

(3,233

)

Mortgage-backed securities

 

 

6,837

 

 

 

(53

)

 

 

89,513

 

 

 

(867

)

 

 

96,350

 

 

 

(920

)

Total

 

$

55,991

 

 

$

(420

)

 

$

215,455

 

 

$

(3,793

)

 

$

271,446

 

 

$

(4,213

)

Held to Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agencies

 

$

5,817

 

 

$

(44

)

 

$

—

 

 

$

—

 

 

$

5,817

 

 

$

(44

)

States and political subdivisions

 

 

23,270

 

 

 

(113

)

 

 

47,943

 

 

 

(2,397

)

 

 

71,213

 

 

 

(2,510

)

Corporate debt securities

 

 

—

 

 

 

—

 

 

 

8,160

 

 

 

(3,840

)

 

 

8,160

 

 

 

(3,840

)

Collateralized mortgage obligations

 

 

28,362

 

 

 

(663

)

 

 

179,855

 

 

 

(23,465

)

 

 

208,217

 

 

 

(24,128

)

Mortgage-backed securities

 

 

331,265

 

 

 

(4,647

)

 

 

8,646,541

 

 

 

(1,340,416

)

 

 

8,977,806

 

 

 

(1,345,063

)

Total

 

$

388,714

 

 

$

(5,467

)

 

$

8,882,499

 

 

$

(1,370,118

)

 

$

9,271,213

 

 

$

(1,375,585

)
Investment Securities by Contractual Maturity

The table below summarizes the amortized cost and fair value of investment securities at September 30, 2025, by contractual maturity. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations at any time with or without call or prepayment penalties.

 

 

 

Held to Maturity

 

 

Available for Sale

 

 

 

Amortized Cost

 

 

Fair Value

 

 

Amortized Cost

 

 

Fair Value

 

 

 

(Dollars in thousands)

 

Due in one year or less

 

$

16,568

 

 

$

16,593

 

 

$

—

 

 

$

—

 

Due after one year through five years

 

 

41,525

 

 

 

41,589

 

 

 

—

 

 

 

—

 

Due after five years through ten years

 

 

30,271

 

 

 

26,985

 

 

 

7,935

 

 

 

9,660

 

Due after ten years

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Subtotal

 

 

88,364

 

 

 

85,167

 

 

 

7,935

 

 

 

9,660

 

Mortgage-backed securities and collateralized mortgage obligations

 

 

9,811,729

 

 

 

8,896,505

 

 

 

326,421

 

 

 

322,709

 

Total

 

$

9,900,093

 

 

$

8,981,672

 

 

$

334,356

 

 

$

332,369