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Securities (Tables)

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Fair Values of Securities Available-for-sale,Held to Maturity and Other Securities

The following tables summarize the amortized cost and fair values of securities available-for-sale, securities held-to-maturity and equity and other securities at December 31, 2024 and 2023 and the corresponding amounts of gross unrealized gains and losses:

2024		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Available-for-sale
U.S. Treasury Notes		$	32,783			$	—			$	(213	)		$	32,570
U.S. Government agencies			151,912				1				(15,426	)			136,487
Obligations of states, municipalities, and political    subdivisions			84,188				177				(5,059	)			79,306
Residential mortgage-backed securities
Agency			849,297				1,415				(99,910	)			750,802
Non-agency			160,427				6				(22,553	)			137,880
Commercial mortgage-backed securities
Agency			261,947				160				(35,167	)			226,940
Corporate securities			40,623				—				(2,161	)			38,462
Asset-backed securities			14,406				13				(1,170	)			13,249
Total		$	1,595,583			$	1,772			$	(181,659	)		$	1,415,696

2024		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Held-to-maturity
Obligations of states, municipalities, and political    subdivisions		$	605			$	—			$	—			$	605
Total		$	605			$	—			$	—			$	605

2023		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Available-for-sale
U.S. Treasury Notes		$	116,398			$	61			$	(1,025	)		$	115,434
U.S. Government agencies			147,062				37				(16,404	)			130,695
Obligations of states, municipalities, and political    subdivisions			86,022				396				(4,143	)			82,275
Residential mortgage-backed securities
Agency			786,970				4,247				(95,414	)			695,803
Non-agency			122,359				—				(22,099	)			100,260
Commercial mortgage-backed securities
Agency			181,452				—				(34,248	)			147,204
Corporate securities			40,681				—				(4,510	)			36,171
Asset-backed securities			35,857				2				(1,221	)			34,638
Total		$	1,516,801			$	4,743			$	(179,064	)		$	1,342,480

2023		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Held-to-maturity
Obligations of states, municipalities, and political    subdivisions		$	1,157			$	—			$	(8	)		$	1,149
Total		$	1,157			$	—			$	(8	)		$	1,149

Summary of Gross Unrealized Losses and Fair Values, Aggregated by Investment Category and Length of Individual Securities Continuous Unrealized Loss Position Available-for-sale and Held to Maturity

Gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2024 and 2023 are summarized as follows:

						Less than 12 Months								12 Months or Longer								Total
2024		# of Securities				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Available-for-sale
U.S. Treasury Notes			7			$	9,808			$	(15	)		$	22,762			$	(198	)		$	32,570			$	(213	)
U.S. Government agencies			22				13,629				(33	)			120,222				(15,393	)			133,851				(15,426	)
Obligations of states, municipalities   and political subdivisions			79				20,271				(418	)			49,154				(4,641	)			69,425				(5,059	)
Residential mortgage-backed securities
Agency			129				183,980				(3,879	)			472,665				(96,031	)			656,645				(99,910	)
Non-agency			22				37,882				(1,361	)			91,303				(21,192	)			129,185				(22,553	)
Commercial mortgage-backed securities
Agency			53				63,959				(1,887	)			139,283				(33,280	)			203,242				(35,167	)
Corporate securities			21				2,470				(21	)			35,992				(2,140	)			38,462				(2,161	)
Asset-backed securities			1				—				—				5,829				(1,170	)			5,829				(1,170	)
Total			334			$	331,999			$	(7,614	)		$	937,210			$	(174,045	)		$	1,269,209			$	(181,659	)

						Less than 12 Months								12 Months or Longer								Total
2023		# of Securities				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Available-for-sale
U.S. Treasury Notes			7			$	5,018			$	(4	)		$	31,843			$	(1,021	)		$	36,861			$	(1,025	)
U.S. Government agencies			18				535				(9	)			119,109				(16,395	)			119,644				(16,404	)
Obligations of states, municipalities   and political subdivisions			61				12,267				(156	)			49,617				(3,987	)			61,884				(4,143	)
Residential mortgage-backed securities
Agency			102				8,332				(49	)			543,648				(95,365	)			551,980				(95,414	)
Non-agency			20				636				—				99,624				(22,099	)			100,260				(22,099	)
Commercial mortgage-backed securities
Agency			48				6,765				(1,517	)			140,439				(32,731	)			147,204				(34,248	)
Corporate securities			21				—				—				36,171				(4,510	)			36,171				(4,510	)
Asset-backed securities			6				—				—				25,653				(1,221	)			25,653				(1,221	)
Total			283			$	33,553			$	(1,735	)		$	1,046,104			$	(177,329	)		$	1,079,657			$	(179,064	)
Held to Maturity
Obligations of states, municipalities   and political subdivisions			2			$	—			$	—			$	1,149			$	(8	)		$	1,149			$	(8	)
Total			2			$	—			$	—			$	1,149			$	(8	)		$	1,149			$	(8	)

Summary of Proceeds From Sales and Calls of Securities Available-for-sale and Associated Gains and Losses

The proceeds from all sales and calls of securities were available-for-sale, and the associated gains and losses for the years ended December 31, 2024, 2023, and 2022 are listed below:

		2024				2023				2022
Proceeds		$	8,949			$	163,649			$	23,293
Gross gains			—				—				100
Gross losses			699				—				50

Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

At December 31, 2024, the amortized cost and fair value of debt securities are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

		Amortized Cost				Fair Value
Available-for-sale
Due in one year or less		$	50,425			$	49,900
Due from one to five years			92,638				88,012
Due from five to ten years			141,506				127,133
Due after ten years			39,343				35,029
Mortgage-backed securities			1,271,671				1,115,622
Total		$	1,595,583			$	1,415,696
Held-to-maturity
Due in one year or less		$	605			$	605
Total		$	605			$	605

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Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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