Investment Securities (Tables)

6 Months Ended

Jun. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of investment securities available-for-sale

The following table shows investment securities available-for-sale.


(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
June 30, 2025
U.S. Treasury and Federal agencies securities	$	702,497	$	1,963	$	(15,029)	$	689,431
U.S. States and political subdivisions securities	102,059		526		(2,722)		99,863
Mortgage-backed securities — Federal agencies	726,291		1,924		(61,352)		666,863


Total debt securities available-for-sale	$	1,530,847	$	4,413	$	(79,103)	$	1,456,157

December 31, 2024
U.S. Treasury and Federal agencies securities	$	786,417	$	24	$	(28,692)	$	757,749
U.S. States and political subdivisions securities	86,305		33		(3,706)		82,632
Mortgage-backed securities — Federal agencies	777,962		192		(82,236)		695,918


Total debt securities available-for-sale	$	1,650,684	$	249	$	(114,634)	$	1,536,299

Schedule of contractual maturities of investments in debt securities available-for-sale

The following table shows the contractual maturities of investments in debt securities available-for-sale at June 30, 2025. Expected maturities will differ from contractual maturities, because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


(Dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	277,103	$	272,399
Due after one year through five years	458,038		447,688
Due after five years through ten years	52,091		52,379
Due after ten years	17,324		16,828
Mortgage-backed securities	726,291		666,863
Total debt securities available-for-sale	$	1,530,847	$	1,456,157

Schedule of gross realized gains and losses from securities available-for-sale

The following table summarizes gross unrealized losses and fair value by investment category and age. At June 30, 2025, the Company’s available-for-sale securities portfolio consisted of 617 securities, 496 of which were in an unrealized loss position.


	Less than 12 Months				12 months or Longer				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
June 30, 2025
U.S. Treasury and Federal agencies securities	$	29,676	$	(138)	$	516,190	$	(14,891)	$	545,866	$	(15,029)
U.S. States and political subdivisions securities	19,891		(501)		35,112		(2,221)		55,003		(2,722)
Mortgage-backed securities - Federal agencies	59,342		(538)		449,715		(60,814)		509,057		(61,352)


Total debt securities available-for-sale	$	108,909	$	(1,177)	$	1,001,017	$	(77,926)	$	1,109,926	$	(79,103)

December 31, 2024
U.S. Treasury and Federal agencies securities	$	103,621	$	(1,324)	$	644,614	$	(27,368)	$	748,235	$	(28,692)
U.S. States and political subdivisions securities	37,017		(670)		39,280		(3,036)		76,297		(3,706)
Mortgage-backed securities - Federal agencies	191,779		(3,355)		466,204		(78,881)		657,983		(82,236)


Total debt securities available-for-sale	$	332,417	$	(5,349)	$	1,150,098	$	(109,285)	$	1,482,515	$	(114,634)

Schedule of gross realized gains and losses from the available-for-sale debt securities portfolio

The following table shows the gross realized gains and losses from the available-for-sale debt securities portfolio. Realized gains and losses of all securities are computed using the specific identification cost basis.


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)	2025		2024		2025		2024
Gross realized gains	$	—	$	—	$	—	$	—
Gross realized losses	(997)		—		(997)		—

Net realized losses	$	(997)	$	—	$	(997)	$	—