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Securities (Tables)
9 Months Ended
Sep. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Marketable Securities
The following table presents the fair values of our securities portfolio at the dates presented:
(dollars in thousands)September 30, 2025December 31, 2024
Debt securities$999,830 $986,415 
Equity securities1,319 1,176 
Total Securities Available for Sale$1,001,149 $987,591 
Schedule of Amortized Cost and Fair Value of Debt Securities
The following table presents the amortized cost and fair value of available-for-sale debt securities as of the dates presented:
 September 30, 2025December 31, 2024
(dollars in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
U.S. Treasury securities$96,544 $103 $(2,385)$94,262 $97,045 $— $(4,277)$92,768 
Obligations of U.S. government corporations and agencies— — — — 15,260 — (189)15,071 
Collateralized mortgage obligations of U.S. government corporations and agencies665,945 4,756 (33,165)637,536 643,690 872 (48,278)596,284 
Residential mortgage-backed securities of U.S. government corporations and agencies36,950 (5,101)31,856 40,109 (6,905)33,207 
Commercial mortgage-backed securities of U.S. government corporations and agencies234,259 2,377 (5,403)231,233 237,270 115 (12,587)224,798 
Obligations of states and political subdivisions4,929 14 — 4,943 24,780 — (493)24,287 
Total Available-for-Sale Debt Securities(1)
$1,038,627 $7,257 $(46,054)$999,830 $1,058,154 $990 $(72,729)$986,415 
(1) Excludes interest receivable of $3.3 million at September 30, 2025 and $3.7 million at December 31, 2024. Interest receivable is included in other assets in the Consolidated Balance Sheets.
Schedule of Fair Value and Age of Gross Unrealized Losses of Debt Securities
The following tables present the fair value and the age of gross unrealized losses on available-for-sale debt securities by investment category as of the dates presented:
September 30, 2025
Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)Number of SecuritiesFair ValueUnrealized
Losses
Number of SecuritiesFair ValueUnrealized
Losses
Number of SecuritiesFair ValueUnrealized
Losses
U.S. Treasury securities1$10,004 $(2)7$69,154 $(2,383)8$79,158 $(2,385)
Collateralized mortgage obligations of U.S. government corporations and agencies324,430 (249)58308,439 (32,916)61332,869 (33,165)
Residential mortgage-backed securities of U.S. government corporations and agencies— — 1831,688 (5,101)1831,688 (5,101)
Commercial mortgage-backed securities of U.S. government corporations and agencies— — 10114,124 (5,403)10114,124 (5,403)
Total4$34,434 $(251)93$523,405 $(45,803)97$557,839 $(46,054)
December 31, 2024
Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)Number of SecuritiesFair ValueUnrealized
Losses
Number of SecuritiesFair ValueUnrealized
Losses
Number of SecuritiesFair ValueUnrealized
Losses
U.S. Treasury securities5$45,045 $(362)5$47,723 $(3,915)10$92,768 $(4,277)
Obligations of U.S. government corporations and agencies— — 215,071 (189)215,071 (189)
Collateralized mortgage obligations of U.S. government corporations and agencies22209,511 (3,393)56318,104 (44,885)78527,615 (48,278)
Residential mortgage-backed securities of U.S. government corporations and agencies1— 2133,030 (6,905)2233,038 (6,905)
Commercial mortgage-backed securities of U.S. government corporations and agencies988,040 (1,741)12122,833 (10,846)21210,873 (12,587)
Obligations of states and political subdivisions424,286 (493)— — 424,286 (493)
Total41$366,890 $(5,989)96$536,761 $(66,740)137$903,651 $(72,729)
Schedule of Unrealized Gains (Losses) of Debt Securities
The following table presents net unrealized gains and losses, net of tax, on available-for-sale debt securities included in accumulated other comprehensive income (loss), for the periods presented:
September 30, 2025December 31, 2024
(dollars in thousands)Gross Unrealized GainsGross Unrealized LossesNet Unrealized LossesGross Unrealized GainsGross Unrealized LossesNet Unrealized Losses
Total unrealized gains (losses) on available-for-sale debt securities$7,257 $(46,054)$(38,797)$990 $(72,729)$(71,739)
Income tax (expense) benefit(1,563)9,921 8,358 (213)15,644 15,431 
Net Unrealized Gains (Losses), Net of Tax Included in Accumulated Other Comprehensive Income (Loss)$5,694 $(36,133)$(30,439)$777 $(57,085)$(56,308)
Schedule of Contractual Maturities of Debt Securities
The amortized cost and fair value of available-for-sale debt securities at September 30, 2025 by contractual maturity are included in the table below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
September 30, 2025
(dollars in thousands)Amortized CostFair Value
Obligations of the U.S. Treasury, U.S. government corporations and agencies and obligations of states and political subdivisions
Due in one year or less$29,913 $29,892 
Due after one year through five years71,560 69,313 
Due after five years through ten years— — 
Due after ten years— — 
Available-for-Sale Debt Securities With Fixed Maturities101,473 99,205 
Debt Securities without a single maturity date
Collateralized mortgage obligations of U.S. government corporations and agencies665,945 637,536 
Residential mortgage-backed securities of U.S. government corporations and agencies36,950 31,856 
Commercial mortgage-backed securities of U.S. government corporations and agencies234,259 231,233 
Total Available-for-Sale Debt Securities$1,038,627 $999,830