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v3.25.3

Securities (Tables) | 6 Months Ended
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Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of available-for-sale securities | The following tables summarize available-for-sale debt securities held by the Company at June 30, 2025 and December 31, 2024:
June 30, 2025 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
(In thousands) |  |  |  |
U.S. Treasuries | $ | 55,318 |  | $ | 229 |  | $ | 2,487 |  | $ | 53,060 |
Obligations of U.S. Government sponsored entities | 393,391 |  | 5,105 |  | 14,557 |  | 383,939 |
Obligations of U.S. states and political subdivisions | 83,446 |  | 6 |  | 7,341 |  | 76,111 |
Mortgage-backed securities – residential, issued by |  |  |  |
U.S. Government agencies | 93,039 |  | 58 |  | 4,373 |  | 88,724 |
U.S. Government sponsored entities | 752,386 |  | 3,754 |  | 85,049 |  | 671,091 |
U.S. corporate debt securities | 2,500 |  | 0 |  | 55 |  | 2,445 |
Total available-for-sale debt securities | $ | 1,380,080 |  | $ | 9,152 |  | $ | 113,862 |  | $ | 1,275,370 |
December 31, 2024 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
(In thousands) |  |  |  |
U.S. Treasuries | $ | 75,141 |  | $ | 140 |  | $ | 3,784 |  | $ | 71,497 |
Obligations of U.S. Government sponsored entities | 398,648 |  | 2,008 |  | 20,376 |  | 380,280 |
Obligations of U.S. states and political subdivisions | 86,328 |  | 4 |  | 8,638 |  | 77,694 |
Mortgage-backed securities – residential, issued by |  |  |  |
U.S. Government agencies | 68,130 |  | 3 |  | 4,879 |  | 63,254 |
U.S. Government sponsored entities | 736,376 |  | 1,680 |  | 101,696 |  | 636,360 |
U.S. corporate debt securities | 2,500 |  | 0 |  | 53 |  | 2,447 |
Total available-for-sale debt securities | $ | 1,367,123 |  | $ | 3,835 |  | $ | 139,426 |  | $ | 1,231,532 |
Schedule of held-to-maturity securities | The following tables summarize held-to-maturity debt securities held by the Company at June 30, 2025 and December 31, 2024:
June 30, 2025 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
(In thousands) |  |  |  |
U.S. Treasuries | $ | 85,938 |  | $ | 0 |  | $ | 8,333 |  | $ | 77,605 |
Obligations of U.S. Government sponsored entities | 226,555 |  | 0 |  | 25,212 |  | 201,343 |
Total held-to-maturity debt securities | $ | 312,493 |  | $ | 0 |  | $ | 33,545 |  | $ | 278,948 |
December 31, 2024 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value
(In thousands) |  |  |  |
U.S. Treasuries | $ | 86,049 |  | $ | 0 |  | $ | 11,361 |  | $ | 74,688 |
Obligations of U.S. Government sponsored entities | 226,413 |  | 0 |  | 33,806 |  | 192,607 |
Total held-to-maturity debt securities | $ | 312,462 |  | $ | 0 |  | $ | 45,167 |  | $ | 267,295 |
The following table summarizes held-to-maturity debt securities that had unrealized losses at June 30, 2025 and December 31, 2024:
June 30, 2025 | Less than 12 Months | 12 Months or Longer | Total
(In thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses
U.S. Treasuries | $ | 0 |  | $ | 0 |  | $ | 77,605 |  | $ | 8,333 |  | $ | 77,605 |  | $ | 8,333 |
Obligations of U.S. Government sponsored entities | 0 |  | 0 |  | 201,343 |  | 25,212 |  | 201,343 |  | 25,212 |
Total held-to-maturity debt securities | $ | 0 |  | $ | 0 |  | $ | 278,948 |  | $ | 33,545 |  | $ | 278,948 |  | $ | 33,545 |
December 31, 2024 | Less than 12 Months | 12 Months or Longer | Total
(In thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses
U.S. Treasuries | $ | 0 |  | $ | 0 |  | $ | 74,688 |  | $ | 11,361 |  | $ | 74,688 |  | $ | 11,361 |
Obligations of U.S. Government sponsored entities | 0 |  | 0 |  | 192,607 |  | 33,806 |  | 192,607 |  | 33,806 |
Total held-to-maturity debt securities | $ | 0 |  | $ | 0 |  | $ | 267,295 |  | $ | 45,167 |  | $ | 267,295 |  | $ | 45,167 |
Schedule of available-for-sale securities with unrealized losses | The following table summarizes available-for-sale debt securities that had unrealized losses at June 30, 2025, and December 31, 2024:
June 30, 2025 | Less than 12 Months | 12 Months or Longer | Total
(In thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses
U.S. Treasuries | $ | 0 |  | $ | 0 |  | $ | 38,350 |  | $ | 2,487 |  | $ | 38,350 |  | $ | 2,487 |
Obligations of U.S. Government sponsored entities | 9,494 |  | 84 |  | 158,738 |  | 14,473 |  | 168,232 |  | 14,557 |
Obligations of U.S. states and political subdivisions | 3,530 |  | 8 |  | 71,284 |  | 7,334 |  | 74,814 |  | 7,342 |
Mortgage-backed securities – residential, issued by |  |  |  |  |  |
U.S. Government agencies | 44,762 |  | 258 |  | 32,451 |  | 4,114 |  | 77,213 |  | 4,372 |
U.S. Government sponsored entities | 29,446 |  | 335 |  | 497,332 |  | 84,714 |  | 526,778 |  | 85,049 |
U.S. corporate debt securities | 0 |  | 0 |  | 2,445 |  | 55 |  | 2,445 |  | 55 |
Total available-for-sale debt securities | $ | 87,232 |  | $ | 685 |  | $ | 800,600 |  | $ | 113,177 |  | $ | 887,832 |  | $ | 113,862 |
December 31, 2024 | Less than 12 Months | 12 Months or Longer | Total
(In thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses
U.S. Treasuries | $ | 0 |  | $ | 0 |  | $ | 57,019 |  | $ | 3,784 |  | $ | 57,019 |  | $ | 3,784 |
Obligations of U.S. Government sponsored entities | 14,085 |  | 515 |  | 188,296 |  | 19,861 |  | 202,381 |  | 20,376 |
Obligations of U.S. states and political subdivisions | 3,159 |  | 36 |  | 73,657 |  | 8,602 |  | 76,816 |  | 8,638 |
Mortgage-backed securities – residential, issued by |  |  |  |  |  |
U.S. Government agencies | 27,082 | 89 | 35,879 | 4,790 | 62,961 | 4,879
U.S. Government sponsored entities | 32,063 | 502 | 523,353 | 101,194 | 555,416 | 101,696
U.S. corporate debt securities | 0 |  | 0 |  | 2,447 |  | 53 |  | 2,447 |  | 53 |
Total available-for-sale debt securities | $ | 76,389 |  | $ | 1,142 |  | $ | 880,651 |  | $ | 138,284 |  | $ | 957,040 |  | $ | 139,426 |
Schedule of available-for-sale and held-to-maturity securities amortized cost and estimated fair value |
June 30, 2025 |  |
(In thousands) | Amortized Cost | Fair Value
Available-for-sale debt securities: |  |
Due in one year or less | $ | 80,231 |  | $ | 80,115 |
Due after one year through five years | 222,856 |  | 215,331 |
Due after five years through ten years | 229,246 |  | 218,289 |
Due after ten years | 2,322 |  | 1,820 |
Total | 534,655 |  | 515,555 |
Mortgage-backed securities | 845,425 |  | 759,815 |
Total available-for-sale debt securities | $ | 1,380,080 |  | $ | 1,275,370 |
December 31, 2024 |  |
(In thousands) | Amortized Cost | Fair Value
Available-for-sale debt securities: |  |
Due in one year or less | $ | 100,000 |  | $ | 99,153 |
Due after one year through five years | 227,502 |  | 215,976 |
Due after five years through ten years | 212,789 |  | 199,457 |
Due after ten years | 22,326 |  | 17,332 |
Total | 562,617 |  | 531,918 |
Mortgage-backed securities | 804,506 |  | 699,614 |
Total available-for-sale debt securities | $ | 1,367,123 |  | $ | 1,231,532 |
June 30, 2025 |  |
(In thousands) | Amortized Cost | Fair Value
Held-to-maturity debt securities: |  |
Due after one year through five years | $ | 117,046 |  | $ | 105,822 |
Due after five years through ten years | 195,447 |  | 173,126 |
Total held-to-maturity debt securities | $ | 312,493 |  | $ | 278,948 |
December 31, 2024 |  |
(In thousands) | Amortized Cost | Fair Value
Held-to-maturity debt securities: |  |
Due after one year through five years | $ | 117,283 |  | $ | 102,173 |
Due after five years through ten years | $ | 195,179 |  | $ | 165,122 |
Total held-to-maturity debt securities | $ | 312,462 |  | $ | 267,295 |

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