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Securities (Tables)
6 Months Ended
Jun. 30, 2026
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)June 30, 2026December 31, 2025
Debt securities$1,010,459 $986,277 
Equity securities2,846 1,382 
Total Securities Available for Sale$1,013,305 $987,659 
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 at the dates presented:
June 30, 2026December 31, 2025
(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$55,399 $13 $(1,052)$54,360 $86,381 $110 $(1,984)$84,507 
Collateralized mortgage obligations of U.S. government corporations and agencies(2)
677,097 797 (36,003)641,891 650,314 4,961 (31,012)624,263 
Residential mortgage-backed securities of U.S. government corporations and agencies(2)
36,669 (4,758)31,916 35,994 (4,665)31,336 
Commercial mortgage-backed securities of U.S. government corporations282,228 523 (5,309)277,442 243,571 2,411 (4,720)241,262 
Obligations of states and political subdivisions4,849 — 4,850 4,902 — 4,909 
Total Available-for-Sale Debt Securities(1)
$1,056,242 $1,339 $(47,122)$1,010,459 $1,021,162 $7,496 $(42,381)$986,277 
(1) Excludes interest receivable of $3.4 million at June 30, 2026 and $3.3 million at December 31, 2025. Interest receivable is included in other assets in the Consolidated Balance Sheets.
(2)Collateralized mortgage obligations and residential mortgage-backed securities consist primarily of securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.
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 at the dates presented:
June 30, 2026
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$9,841 $(57)4$39,522 $(995)5$49,363 $(1,052)
Collateralized mortgage obligations of U.S. government corporations and agencies29235,534 (2,939)52260,286 (33,064)81495,820 (36,003)
Residential mortgage-backed securities of U.S. government corporations and agencies12,490 (28)1129,271 (4,730)1231,761 (4,758)
Commercial mortgage-backed securities of U.S. government corporations12113,228 (1,282)779,639 (4,027)19192,867 (5,309)
Total43$361,093 $(4,306)74$408,718 $(42,816)117$769,811 $(47,122)
December 31, 2025
Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)Number of SecuritiesFair ValueUnrealized
Losses
Number of SecuritiesFair ValueUnrealized
Losses
Number of SecuritiesFair ValueUnrealized
Losses
U.S. Treasury securities$— $— 7$69,409 $(1,984)7$69,409 $(1,984)
Collateralized mortgage obligations of U.S. government corporations and agencies434,993 (52)55299,732 (30,960)59334,725 (31,012)
Residential mortgage-backed securities of U.S. government corporations and agencies— — 1531,171 (4,665)1531,171 (4,665)
Commercial mortgage-backed securities of U.S. government corporations
19,943 (29)10114,107 (4,691)11124,050 (4,720)
Total5$44,936 $(81)87$514,419 $(42,300)92$559,355 $(42,381)
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 loss, for the periods presented:
June 30, 2026December 31, 2025
(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$1,339 $(47,122)$(45,783)$7,496 $(42,381)$(34,885)
Income tax (expense) benefit(288)10,143 9,855 (1,614)9,123 7,509 
Net Unrealized Losses, Net of Tax Included in Accumulated Other Comprehensive Loss$1,051 $(36,979)$(35,928)$5,882 $(33,258)$(27,376)
Schedule of Contractual Maturities of Debt Securities
The amortized cost and fair value of available-for-sale debt securities at June 30, 2026 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.
June 30, 2026
(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$20,080 $20,031 
Due after one year through five years30,270 29,337 
Due after five years through ten years9,898 9,842 
Due after ten years— — 
Available-for-Sale Debt Securities With Fixed Maturities60,248 59,210 
Debt Securities without a single maturity date
Collateralized mortgage obligations of U.S. government corporations and agencies677,097 641,891 
Residential mortgage-backed securities of U.S. government corporations and agencies36,669 31,916 
Commercial mortgage-backed securities of U.S. government corporations282,228 277,442 
Total Available-for-Sale Debt Securities$1,056,242 $1,010,459