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Repurchase Agreements (Tables) | 9 Months Ended
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Sep. 30, 2025
Repurchase Agreements [Abstract] |
Remaining Contractual Maturity of Securities Sold Under Agreements to Repurchase by Class of Collateral Pledged | The remaining contractual maturity of the securities sold under agreements to repurchase by class of collateral pledged included in the accompanying consolidated balance sheets as of September 30, 2025 and December 31, 2024 is presented in the following tables:
|  | September 30, 2025 |
|  | Remaining Contractual Maturity of the Agreements |
(in thousands) |  | Overnight and Continuous |  |  | Up to 30 days |  |  | 30-90 days |  |  | Greater Than 90 days |  |  | Total |
Repurchase agreements and repurchase-to-maturity transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 11,849 |  |  | $ | 0 |  |  | $ | 13 |  |  | $ | 11,222 |  |  | $ | 23,084 |
State and political subdivisions |  |  | 108,047 |  |  |  | 0 |  |  |  | 2,038 |  |  |  | 16,098 |  |  |  | 126,183 |
Agency mortgage-backed securities |  |  | 25,506 |  |  |  | 0 |  |  |  | 481 |  |  |  | 95,090 |  |  |  | 121,077 |
Asset-backed securities |  |  | 3,304 |  |  |  | 0 |  |  |  | 0 |  |  |  | 11,215 |  |  |  | 14,519 |
Total repurchase agreements |  | $ | 148,706 |  |  | $ | 0 |  |  | $ | 2,532 |  |  | $ | 133,625 |  |  | $ | 284,863 |
|  | December 31, 2024 |
|  | Remaining Contractual Maturity of the Agreements |
(in thousands) |  | Overnight and Continuous |  |  | Up to 30 days |  |  | 30-90 days |  |  | Greater Than 90 days |  |  | Total |
Repurchase agreements and repurchase-to-maturity transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agencies |  | $ | 23,240 |  |  | $ | 11 |  |  | $ | 7,657 |  |  | $ | 25,482 |  |  | $ | 56,390 |
State and political subdivisions |  |  | 108,775 |  |  |  | 489 |  |  |  | 7,288 |  |  |  | 3,700 |  |  |  | 120,252 |
Agency mortgage-backed securities |  |  | 17,756 |  |  |  | 0 |  |  |  | 34,355 |  |  |  | 7,091 |  |  |  | 59,202 |
Asset-backed securities |  |  | 4,322 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 4,322 |
Total repurchase agreements |  | $ | 154,093 |  |  | $ | 500 |  |  | $ | 49,300 |  |  | $ | 36,273 |  |  | $ | 240,166 |
Repurchase Agreements Presented on a Net Basis | The following table presents information regarding repurchase agreements as if it was presented on a net basis as of September 30, 2025 and December 31, 2024:
|  |  | Gross Amount Not Offset in the Balance Sheet |  |  |  |
(in thousands) |  | Gross Amount of Recognized Liabilities |  |  | Gross Amount Offset in the Balance Sheet |  |  | Net Amount of Liabilities Presented in the Balance Sheet |  |  | Financial Instruments Posted as Collateral |  |  | Cash Posted as Collateral |  |  | Net Amount |
September 30, 2025: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repurchase agreements |  | $ | 284,863 |  |  | $ | 0 |  |  | $ | 284,863 |  |  | $ | (284,863 | ) |  | $ | 0 |  |  | $ | 0 |
December 31, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repurchase agreements |  | $ | 240,166 |  |  | $ | 0 |  |  | $ | 240,166 |  |  | $ | (240,166 | ) |  | $ | 0 |  |  | $ | 0 |

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