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v3.25.1

Securities (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Debt Securities, Available-for-Sale | The carrying amount of available-for-sale securities and their approximate fair values at December 31, 2024, and December 31, 2023, are summarized as follows (in thousands):
| December 31, 2024
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Securities Available-for-Sale |  |  |  |  |  |  |
U.S. Treasuries and government agencies | $ | 165,619 |  |  | $ | — |  |  | $ | 16,492 |  |  | $ | 149,127 |
Obligations of states and municipalities | 777,181 |  |  | 846 |  |  | 79,303 |  |  | 698,724 |
Residential mortgage backed — agency | 57,244 |  |  | 121 |  |  | 4,179 |  |  | 53,186 |
Residential mortgage backed — non-agency | 259,964 |  |  | 44 |  |  | 12,132 |  |  | 247,876 |
Commercial mortgage backed — agency | 33,791 |  |  | 27 |  |  | 747 |  |  | 33,071 |
Commercial mortgage backed — non-agency | 158,621 |  |  | 2 |  |  | 4,112 |  |  | 154,511 |
Asset-backed | 64,308 |  |  | 316 |  |  | 568 |  |  | 64,056 |
Other | 32,861 |  |  | 302 |  |  | 1,343 |  |  | 31,820 |
Total | $ | 1,549,589 |  |  | $ | 1,658 |  |  | $ | 118,876 |  |  | $ | 1,432,371 |
| December 31, 2023
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Securities Available-for-Sale |  |  |  |  |  |  |
U.S. Treasuries and government agencies | $ | 197,026 |  |  | $ | — |  |  | $ | 17,955 |  |  | $ | 179,071 |
Obligations of states and municipalities | 535,229 |  |  | 21 |  |  | 72,047 |  |  | 463,203 |
Residential mortgage backed — agency | 47,074 |  |  | — |  |  | 4,836 |  |  | 42,238 |
Residential mortgage backed — non-agency | 284,826 |  |  | 17 |  |  | 18,812 |  |  | 266,031 |
Commercial mortgage backed — agency | 36,151 |  |  | 28 |  |  | 1,294 |  |  | 34,885 |
Commercial mortgage backed — non-agency | 183,454 |  |  | — |  |  | 6,393 |  |  | 177,061 |
Asset-backed | 79,315 |  |  | 23 |  |  | 1,402 |  |  | 77,936 |
Other | 9,500 |  |  | — |  |  | 1,486 |  |  | 8,014 |
Total | $ | 1,372,575 |  |  | $ | 89 |  |  | $ | 124,225 |  |  | $ | 1,248,439 |
The maturities of securities available-for-sale at December 31, 2024, were as follows (in thousands): (Expected maturities of securities not due at a single maturity date are based on average life at estimated prepayment speed. Expected maturities may differ from contractual maturities because borrowers have the right to call or prepay some obligations with or without call or prepayment penalties).
| December 31, 2024
| Amortized Cost
| One Year or Less |  | One to Five Years |  | Five to Ten Years |  | After Ten Years |  | Total
Securities Available-for-Sale |  |  |  |  |  |  |  |  |
U.S. Treasuries and government agencies | $ | 5,110 |  |  | $ | 160,509 |  |  | $ | — |  |  | $ | — |  |  | $ | 165,619 |
Obligations of states and municipalities | — |  |  | 154,071 |  |  | 369,063 |  |  | 254,047 |  |  | 777,181 |
Residential mortgage backed - agency | — |  |  | 18,778 |  |  | 28,045 |  |  | 10,421 |  |  | 57,244 |
Residential mortgage backed - non-agency | 21,789 |  |  | 80,363 |  |  | 128,978 |  |  | 28,834 |  |  | 259,964 |
Commercial mortgage backed - agency | 94 |  |  | 26,500 |  |  | 7,197 |  |  | — |  |  | 33,791 |
Commercial mortgage backed - non-agency | 86,629 |  |  | 47,211 |  |  | 24,781 |  |  | — |  |  | 158,621 |
Asset-backed | 9,070 |  |  | 30,463 |  |  | 24,775 |  |  | — |  |  | 64,308 |
Other | — |  |  | 2,752 |  |  | 15,688 |  |  | 14,421 |  |  | 32,861 |
Total | $ | 122,692 |  |  | $ | 520,647 |  |  | $ | 598,527 |  |  | $ | 307,723 |  |  | $ | 1,549,589 |
| December 31, 2024
| Fair Value
| One Year or Less |  | One to Five Years |  | Five to Ten Years |  | After Ten Years |  | Total
Securities Available-for-Sale |  |  |  |  |  |  |  |  |
U.S. Treasuries and government agencies | $ | 4,924 |  |  | $ | 144,203 |  |  | $ | — |  |  | $ | — |  |  | $ | 149,127 |
Obligations of states and municipalities | — |  |  | 147,857 |  |  | 328,969 |  |  | 221,898 |  |  | 698,724 |
Residential mortgage backed - agency | — |  |  | 18,440 |  |  | 24,214 |  |  | 10,532 |  |  | 53,186 |
Residential mortgage backed - non-agency | 21,688 |  |  | 75,622 |  |  | 122,710 |  |  | 27,856 |  |  | 247,876 |
Commercial mortgage backed - agency | 94 |  |  | 25,936 |  |  | 7,041 |  |  | — |  |  | 33,071 |
Commercial mortgage backed - non-agency | 85,667 |  |  | 45,408 |  |  | 23,436 |  |  | — |  |  | 154,511 |
Asset-backed | 9,062 |  |  | 30,361 |  |  | 24,633 |  |  | — |  |  | 64,056 |
Other | — |  |  | 2,881 |  |  | 14,601 |  |  | 14,338 |  |  | 31,820 |
Total | $ | 121,435 |  |  | $ | 490,708 |  |  | $ | 545,604 |  |  | $ | 274,624 |  |  | $ | 1,432,371 |
Schedule of Realized Gain (Loss) | The proceeds from sales, calls and maturities, and principal payments received of debt securities available-for-sale, and the related gross gains and losses realized for the years ended December 31, 2024, December 31, 2023, and December 31, 2022, were as follows (in thousands):
| Proceeds from |  | Gross realized
For the year ended December 31, | Sales |  | Calls and maturities |  | Principal Payments |  | Gains |  | Losses
2024 | $ | 372,370 |  |  | $ | 46,434 |  |  | $ | 211,443 |  |  | $ | 3,381 |  |  | $ | 2,024 |
2023 | 77,780 |  |  | 1,797 |  |  | 110,228 |  |  | 772 |  |  | 884 |
2022 | 195,907 |  |  | 59,352 |  |  | 154,244 |  |  | 1,512 |  |  | 1,966 |
Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value | Available-for-sale securities in a continuous unrealized loss position for less than twelve months and more than twelve months are as follows (in thousands):
| December 31, 2024
| Less Than Twelve Months |  | More Than Twelve Months |  |
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Total Unrealized Losses
Securities Available-for-Sale |  |  |  |  |  |  |  |  |
U.S. Treasuries and government agencies | $ | — |  |  | $ | — |  |  | $ | 149,127 |  |  | $ | 16,492 |  |  | $ | 16,492 |
Obligations of states and municipalities | 181,027 |  |  | 5,338 |  |  | 433,488 |  |  | 73,965 |  |  | 79,303 |
Residential mortgage backed - agency | 203 |  |  | 2 |  |  | 42,233 |  |  | 4,177 |  |  | 4,179 |
Residential mortgage backed - non-agency | 110,191 |  |  | 1,911 |  |  | 134,727 |  |  | 10,221 |  |  | 12,132 |
Commercial mortgage backed - agency | 3,412 |  |  | 29 |  |  | 28,885 |  |  | 718 |  |  | 747 |
Commercial mortgage backed - non-agency | 30,064 |  |  | 523 |  |  | 108,761 |  |  | 3,589 |  |  | 4,112 |
Asset-backed | 4,140 |  |  | 4 |  |  | 29,243 |  |  | 564 |  |  | 568 |
Other | 15,123 |  |  | 138 |  |  | 8,295 |  |  | 1,205 |  |  | 1,343 |
Total | $ | 344,160 |  |  | $ | 7,945 |  |  | $ | 934,759 |  |  | $ | 110,931 |  |  | $ | 118,876 |
| December 31, 2023
| Less Than Twelve Months |  | More Than Twelve Months |  |
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Total Unrealized Losses
Securities Available-for-Sale |  |  |  |  |  |  |  |  |
U.S. Treasuries and government agencies | $ | — |  |  | $ | — |  |  | $ | 179,071 |  |  | $ | 17,955 |  |  | $ | 17,955 |
Obligations of states and municipalities | 501 |  |  | 14 |  |  | 458,113 |  |  | 72,033 |  |  | 72,047 |
Residential mortgage backed - agency | 36 |  |  | — |  |  | 42,203 |  |  | 4,836 |  |  | 4,836 |
Residential mortgage backed - non-agency | 632 |  |  | 2 |  |  | 263,184 |  |  | 18,810 |  |  | 18,812 |
Commercial mortgage backed - agency | — |  |  | — |  |  | 34,080 |  |  | 1,294 |  |  | 1,294 |
Commercial mortgage backed - non-agency | 23,437 |  |  | 254 |  |  | 153,625 |  |  | 6,139 |  |  | 6,393 |
Asset-backed | 3,721 |  |  | 9 |  |  | 56,106 |  |  | 1,393 |  |  | 1,402 |
Other | — |  |  | — |  |  | 8,014 |  |  | 1,486 |  |  | 1,486 |
Total | $ | 28,327 |  |  | $ | 279 |  |  | $ | 1,194,396 |  |  | $ | 123,946 |  |  | $ | 124,225 |

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