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Securities (Tables)
12 Months Ended
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 CostGross Unrealized GainsGross Unrealized LossesFair Value
Securities Available-for-Sale
U.S. Treasuries and government agencies$165,619 $— $16,492 $149,127 
Obligations of states and municipalities777,181 846 79,303 698,724 
Residential mortgage backed — agency57,244 121 4,179 53,186 
Residential mortgage backed — non-agency259,964 44 12,132 247,876 
Commercial mortgage backed — agency33,791 27 747 33,071 
Commercial mortgage backed — non-agency158,621 4,112 154,511 
Asset-backed64,308 316 568 64,056 
Other32,861 302 1,343 31,820 
Total
$1,549,589 $1,658 $118,876 $1,432,371 
December 31, 2023
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Securities Available-for-Sale
U.S. Treasuries and government agencies$197,026 $— $17,955 $179,071 
Obligations of states and municipalities535,229 21 72,047 463,203 
Residential mortgage backed — agency47,074 — 4,836 42,238 
Residential mortgage backed — non-agency284,826 17 18,812 266,031 
Commercial mortgage backed — agency36,151 28 1,294 34,885 
Commercial mortgage backed — non-agency183,454 — 6,393 177,061 
Asset-backed79,315 23 1,402 77,936 
Other9,500 — 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 LessOne to Five YearsFive to Ten YearsAfter Ten YearsTotal
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-agency21,789 80,363 128,978 28,834 259,964 
Commercial mortgage backed - agency94 26,500 7,197 — 33,791 
Commercial mortgage backed - non-agency86,629 47,211 24,781 — 158,621 
Asset-backed9,070 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 LessOne to Five YearsFive to Ten YearsAfter Ten YearsTotal
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-agency21,688 75,622 122,710 27,856 247,876 
Commercial mortgage backed - agency94 25,936 7,041 — 33,071 
Commercial mortgage backed - non-agency85,667 45,408 23,436 — 154,511 
Asset-backed9,062 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 fromGross realized
For the year ended December 31,SalesCalls and maturitiesPrincipal PaymentsGainsLosses
2024$372,370 $46,434 $211,443 $3,381 $2,024 
202377,780 1,797 110,228 772 884 
2022195,907 59,352 154,244 1,512 1,966 
Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
Available-for-sale securities in a continuous unrealized loss position for less than twelve months and more than twelve months are as follows (in thousands):
December 31, 2024
Less Than Twelve MonthsMore Than Twelve Months
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesTotal Unrealized Losses
Securities Available-for-Sale
U.S. Treasuries and government agencies$— $— $149,127 $16,492 $16,492 
Obligations of states and municipalities181,027 5,338 433,488 73,965 79,303 
Residential mortgage backed - agency203 42,233 4,177 4,179 
Residential mortgage backed - non-agency110,191 1,911 134,727 10,221 12,132 
Commercial mortgage backed - agency3,412 29 28,885 718 747 
Commercial mortgage backed - non-agency30,064 523 108,761 3,589 4,112 
Asset-backed4,140 29,243 564 568 
Other15,123 138 8,295 1,205 1,343 
Total
$344,160 $7,945 $934,759 $110,931 $118,876 
December 31, 2023
Less Than Twelve MonthsMore Than Twelve Months
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesTotal Unrealized Losses
Securities Available-for-Sale
U.S. Treasuries and government agencies$— $— $179,071 $17,955 $17,955 
Obligations of states and municipalities501 14 458,113 72,033 72,047 
Residential mortgage backed - agency36 — 42,203 4,836 4,836 
Residential mortgage backed - non-agency632 263,184 18,810 18,812 
Commercial mortgage backed - agency— — 34,080 1,294 1,294 
Commercial mortgage backed - non-agency23,437 254 153,625 6,139 6,393 
Asset-backed3,721 56,106 1,393 1,402 
Other— — 8,014 1,486 1,486 
Total
$28,327 $279 $1,194,396 $123,946 $124,225