Investment Securities (Tables)

9 Months Ended

Sep. 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
September 30, 2025
U.S. Treasury and Federal agencies securities	$	706,387	$	2,644	$	(9,174)	$	699,857
U.S. States and political subdivisions securities	106,537		1,048		(1,905)		105,680
Mortgage-backed securities — Federal agencies	742,140		2,590		(55,652)		689,078
Corporate debt securities	500		2		—		502

Total debt securities available-for-sale	$	1,555,564	$	6,284	$	(66,731)	$	1,495,117

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 September 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	$	224,596	$	221,779
Due after one year through five years	493,746		488,358
Due after five years through ten years	81,820		82,595
Due after ten years	13,262		13,307
Mortgage-backed securities	742,140		689,078
Total debt securities available-for-sale	$	1,555,564	$	1,495,117

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 September 30, 2025, the Company’s available-for-sale securities portfolio consisted of 632 securities, 467 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
September 30, 2025
U.S. Treasury and Federal agencies securities	$	108,618	$	(500)	$	392,971	$	(8,674)	$	501,589	$	(9,174)
U.S. States and political subdivisions securities	12,156		(121)		33,728		(1,784)		45,884		(1,905)
Mortgage-backed securities - Federal agencies	33,556		(171)		470,737		(55,481)		504,293		(55,652)


Total debt securities available-for-sale	$	154,330	$	(792)	$	897,436	$	(65,939)	$	1,051,766	$	(66,731)

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

The following table shows the proceeds from sales of available-for-sale debt securities and the gross realized gains and gross realized losses that have been included in earnings as a result of these sales. Realized gains and losses of all securities are computed using the specific identification cost basis.


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2025		2024		2025		2024
Proceeds from sales	$	73,537	$	—	$	99,246	$	—
Gross realized gains	—		—		—		—
Gross realized losses	1,877		—		2,874		—