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Investments (Tables)
9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale and Held-to-Maturity Securities Reconciliation
The following tables present the amortized cost, gross unrealized gains and losses, allowance for credit losses and fair value of securities available-for-sale and held-to-maturity:
 
 
September 30, 2025
($ in thousands)Amortized CostGross
Unrealized Gains
Gross
Unrealized Losses
Fair Value
Available-for-sale securities:
Obligations of U.S. Government-sponsored enterprises$252,046 $158 $(7,698)$244,506 
Obligations of states and political subdivisions590,182 2,226 (67,662)524,746 
Agency mortgage-backed securities1,473,138 11,987 (40,573)1,444,552 
U.S. Treasury bills114,698 60 (717)114,041 
Corporate debt securities23,698 120 (170)23,648 
          Total securities available-for-sale$2,453,762 $14,551 $(116,820)$2,351,493 
Held-to-maturity securities:
Obligations of states and political subdivisions$925,829 $6,999 $(49,430)$883,398 
Agency mortgage-backed securities44,837 — (3,509)41,328 
Corporate debt securities111,351 312 (4,028)107,635 
          Total securities held-to-maturity$1,082,017 $7,311 $(56,967)$1,032,361 
Allowance for credit losses(170)
          Total securities held-to-maturity, net$1,081,847 

 December 31, 2024
($ in thousands)Amortized CostGross
Unrealized Gains
Gross
Unrealized Losses
Fair Value
Available-for-sale securities:    
    Obligations of U.S. Government-sponsored enterprises$290,329 $69 $(14,358)$276,040 
    Obligations of states and political subdivisions492,896 12 (83,711)409,197 
    Agency mortgage-backed securities1,090,495 1,072 (64,173)1,027,394 
U.S. Treasury Bills130,565 34 (1,706)128,893 
Corporate debt securities21,198 — (452)20,746 
          Total securities available-for-sale$2,025,483 $1,187 $(164,400)$1,862,270 
Held-to-maturity securities:
   Obligations of states and political subdivisions$759,059 $2,366 $(60,351)$701,074 
   Agency mortgage-backed securities47,912 — (5,004)42,908 
Corporate debt securities122,221 269 (7,601)114,889 
          Total securities held-to-maturity$929,192 $2,635 $(72,956)$858,871 
Allowance for credit losses(257)
          Total securities held-to-maturity, net$928,935 
Schedule of Available-for-sale and Held-to-Maturity Securities Reconciliation
The following tables present the amortized cost, gross unrealized gains and losses, allowance for credit losses and fair value of securities available-for-sale and held-to-maturity:
 
 
September 30, 2025
($ in thousands)Amortized CostGross
Unrealized Gains
Gross
Unrealized Losses
Fair Value
Available-for-sale securities:
Obligations of U.S. Government-sponsored enterprises$252,046 $158 $(7,698)$244,506 
Obligations of states and political subdivisions590,182 2,226 (67,662)524,746 
Agency mortgage-backed securities1,473,138 11,987 (40,573)1,444,552 
U.S. Treasury bills114,698 60 (717)114,041 
Corporate debt securities23,698 120 (170)23,648 
          Total securities available-for-sale$2,453,762 $14,551 $(116,820)$2,351,493 
Held-to-maturity securities:
Obligations of states and political subdivisions$925,829 $6,999 $(49,430)$883,398 
Agency mortgage-backed securities44,837 — (3,509)41,328 
Corporate debt securities111,351 312 (4,028)107,635 
          Total securities held-to-maturity$1,082,017 $7,311 $(56,967)$1,032,361 
Allowance for credit losses(170)
          Total securities held-to-maturity, net$1,081,847 

 December 31, 2024
($ in thousands)Amortized CostGross
Unrealized Gains
Gross
Unrealized Losses
Fair Value
Available-for-sale securities:    
    Obligations of U.S. Government-sponsored enterprises$290,329 $69 $(14,358)$276,040 
    Obligations of states and political subdivisions492,896 12 (83,711)409,197 
    Agency mortgage-backed securities1,090,495 1,072 (64,173)1,027,394 
U.S. Treasury Bills130,565 34 (1,706)128,893 
Corporate debt securities21,198 — (452)20,746 
          Total securities available-for-sale$2,025,483 $1,187 $(164,400)$1,862,270 
Held-to-maturity securities:
   Obligations of states and political subdivisions$759,059 $2,366 $(60,351)$701,074 
   Agency mortgage-backed securities47,912 — (5,004)42,908 
Corporate debt securities122,221 269 (7,601)114,889 
          Total securities held-to-maturity$929,192 $2,635 $(72,956)$858,871 
Allowance for credit losses(257)
          Total securities held-to-maturity, net$928,935 
Investments Classified by Contractual Maturity Date
The amortized cost and estimated fair value of debt securities at September 30, 2025, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The weighted average life of the mortgage-backed securities is approximately five years.
Available-for-saleHeld-to-maturity
($ in thousands)Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
Due in one year or less$207,822 $205,486 $5,226 $5,226 
Due after one year through five years141,250 138,032 125,772 122,173 
Due after five years through ten years317,131 282,830 240,152 238,874 
Due after ten years314,421 280,593 666,030 624,760 
Agency mortgage-backed securities1,473,138 1,444,552 44,837 41,328 
 $2,453,762 $2,351,493 $1,082,017 $1,032,361 
Schedule of Unrealized Loss on Investments
The following tables presents a summary of available-for-sale investment securities in an unrealized loss position:
 September 30, 2025
Less than 12 months12 months or moreTotal
($ in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Obligations of U.S. Government-sponsored enterprises$5,993 $$219,987 $7,690 $225,980 $7,698 
Obligations of states and political subdivisions6,614 244 416,996 67,418 423,610 67,662 
Agency mortgage-backed securities96,890 854 406,132 39,719 503,022 40,573 
U.S. Treasury bills2,020 40,188 716 42,208 717 
Corporate debt securities— — 6,580 170 6,580 170 
 $111,517 $1,107 $1,089,883 $115,713 $1,201,400 $116,820 
 December 31, 2024
Less than 12 months12 months or moreTotal
($ in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
Obligations of U.S. Government-sponsored enterprises$21,044 $132 $234,191 $14,226 $255,235 $14,358 
Obligations of states and political subdivisions3,117 143 403,767 83,568 406,884 83,711 
Agency mortgage-backed securities423,600 6,763 478,790 57,410 902,390 64,173 
U.S. Treasury bills11,708 23 54,177 1,683 65,885 1,706 
Corporate debt securities1,956 44 8,342 408 10,298 452 
 $461,425 $7,105 $1,179,267 $157,295 $1,640,692 $164,400