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Securities (Tables) | 9 Months Ended
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Sep. 30, 2024
Securities |
Schedule of amortized cost and fair value of the securities portfolio and corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
September 30, 2024 |  | Cost1 |  | Gains |  | Losses | ​ | Value
Securities available-for-sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury | ​ | $ | 193,825 | ​ | $ | 1,559 | ​ | $ | (1,196) | ​ | $ | 194,188
U.S. government agencies | ​ | ​ | 39,401 | ​ | ​ | - | ​ | ​ | (1,425) | ​ | ​ | 37,976
U.S. government agencies mortgage-backed | ​ | ​ | 105,262 | ​ | ​ | - | ​ | ​ | (8,849) | ​ | ​ | 96,413
States and political subdivisions | ​ | ​ | 231,506 | ​ | ​ | 1,237 | ​ | ​ | (7,948) | ​ | ​ | 224,795
Collateralized mortgage obligations | ​ | ​ | 422,234 | ​ | ​ | 1,027 | ​ | ​ | (38,990) | ​ | ​ | 384,271
Asset-backed securities | ​ | ​ | 65,716 | ​ | ​ | 142 | ​ | ​ | (1,911) | ​ | ​ | 63,947
Collateralized loan obligations | ​ | ​ | 189,143 | ​ | ​ | 181 | ​ | ​ | (60) | ​ | ​ | 189,264
Total securities available-for-sale | ​ | $ | 1,247,087 | ​ | $ | 4,146 | ​ | $ | (60,379) | ​ | $ | 1,190,854
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Gross | ​ | Gross | ​ | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
December 31, 2023 |  | Cost1 |  | Gains |  | Losses | ​ | Value
Securities available-for-sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury | ​ | $ | 174,602 | ​ | $ | - | ​ | $ | (5,028) | ​ | $ | 169,574
U.S. government agencies | ​ | ​ | 60,011 | ​ | ​ | - | ​ | ​ | (3,052) | ​ | ​ | 56,959
U.S. government agencies mortgage-backed | ​ | ​ | 118,492 | ​ | ​ | - | ​ | ​ | (12,122) | ​ | ​ | 106,370
States and political subdivisions | ​ | ​ | 236,072 | ​ | ​ | 1,325 | ​ | ​ | (10,332) | ​ | ​ | 227,065
Collateralized mortgage obligations | ​ | ​ | 442,987 | ​ | ​ | 421 | ​ | ​ | (50,864) | ​ | ​ | 392,544
Asset-backed securities | ​ | ​ | 71,616 | ​ | ​ | 42 | ​ | ​ | (3,222) | ​ | ​ | 68,436
Collateralized loan obligations | ​ | ​ | 173,201 | ​ | ​ | 30 | ​ | ​ | (1,350) | ​ | ​ | 171,881
Total securities available-for-sale | ​ | $ | 1,276,981 | ​ | $ | 1,818 | ​ | $ | (85,970) | ​ | $ | 1,192,829
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ 1 Excludes accrued interest receivable of $7.3 million and $6.6 million at September 30, 2024 and December 31, 2023, respectively, that is recorded in other assets on the consolidated balance sheets.
Schedule of fair value, amortized cost and weighted average yield of debt securities by contractual maturity along with securities not due at a single maturity date, primarily mortgage-backed securities (MBS), asset-backed securities, and collateralized loan obligations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortized | ​ | Average | ​ | ​ | Fair | ​
Securities available-for-sale |  | Cost |  | Yield | ​ |  | Value |
Due in one year or less | ​ | $ | 122,883 | ​ | 1.69 | % | ​ | $ | 121,809 | ​
Due after one year through five years | ​ | ​ | 127,710 | ​ | 3.70 | ​ | ​ | ​ | 127,947 | ​
Due after five years through ten years | ​ | ​ | 90,188 | ​ | 2.89 | ​ | ​ | ​ | 86,075 | ​
Due after ten years | ​ | ​ | 123,951 | ​ | 3.11 | ​ | ​ | ​ | 121,128 | ​
​ | ​ | ​ | 464,732 | ​ | 2.85 | ​ | ​ | ​ | 456,959 | ​
Mortgage-backed and collateralized mortgage obligations | ​ | ​ | 527,496 | ​ | 2.53 | ​ | ​ | ​ | 480,684 | ​
Asset-backed securities | ​ | ​ | 65,716 | ​ | 3.89 | ​ | ​ | ​ | 63,947 | ​
Collateralized loan obligations | ​ | ​ | 189,143 | ​ | 6.29 | ​ | ​ | ​ | 189,264 | ​
Total securities available-for-sale | ​ | $ | 1,247,087 | ​ | 3.29 | % | ​ | $ | 1,190,854 | ​
Schedule of securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 12 months | ​ | 12 months or more | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2024 | ​ | in an unrealized loss position | ​ | in an unrealized loss position | ​ | Total
​ | ​ | Number of | ​ | Unrealized | ​ | Fair | ​ | Number of | ​ | Unrealized | ​ | Fair | ​ | Number of | ​ | Unrealized | ​ | Fair
Securities available-for-sale |  | Securities |  | Losses |  | Value |  | Securities |  | Losses |  | Value |  | Securities |  | Losses |  | Value
U.S. Treasuries | ​ | - | ​ | $ | - | ​ | $ | - | ​ | 2 | ​ | $ | 1,196 | ​ | $ | 98,672 | ​ | 2 | ​ | $ | 1,196 | ​ | $ | 98,672
U.S. government agencies | ​ | - | ​ | ​ | - | ​ | ​ | - | ​ | 8 | ​ | ​ | 1,425 | ​ | ​ | 37,976 | ​ | 8 | ​ | ​ | 1,425 | ​ | ​ | 37,976
U.S. government agencies mortgage-backed | ​ | - | ​ | ​ | - | ​ | ​ | - | ​ | 128 | ​ | ​ | 8,849 | ​ | ​ | 96,413 | ​ | 128 | ​ | ​ | 8,849 | ​ | ​ | 96,413
States and political subdivisions | ​ | 2 | ​ | ​ | 20 | ​ | ​ | 12,697 | ​ | 30 | ​ | ​ | 7,928 | ​ | ​ | 113,587 | ​ | 32 | ​ | ​ | 7,948 | ​ | ​ | 126,284
Collateralized mortgage obligations | ​ | 2 | ​ | ​ | 19 | ​ | ​ | 1,506 | ​ | 141 | ​ | ​ | 38,971 | ​ | ​ | 346,056 | ​ | 143 | ​ | ​ | 38,990 | ​ | ​ | 347,562
Asset-backed securities | ​ | - | ​ | ​ | - | ​ | ​ | - | ​ | 13 | ​ | ​ | 1,911 | ​ | ​ | 51,435 | ​ | 13 | ​ | ​ | 1,911 | ​ | ​ | 51,435
Collateralized loan obligations | ​ | 7 | ​ | ​ | 56 | ​ | ​ | 62,219 | ​ | 2 | ​ | ​ | 4 | ​ | ​ | 12,848 | ​ | 9 | ​ | ​ | 60 | ​ | ​ | 75,067
Total securities available-for-sale | ​ | 11 | ​ | $ | 95 | ​ | $ | 76,422 | ​ | 324 | ​ | $ | 60,284 | ​ | $ | 756,987 | ​ | 335 | ​ | $ | 60,379 | ​ | $ | 833,409
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Less than 12 months | ​ | 12 months or more | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2023 | ​ | in an unrealized loss position | ​ | in an unrealized loss position | ​ | Total
​ | ​ | Number of | ​ | Unrealized | ​ | ​ | Fair | ​ | Number of | ​ | Unrealized | ​ | ​ | Fair | ​ | Number of | ​ | Unrealized | ​ | ​ | Fair
Securities available-for-sale |  | Securities |  | Losses |  | ​ | Value |  | Securities |  | Losses |  | ​ | Value |  | Securities |  | Losses |  | ​ | Value
U.S. Treasuries | ​ | - | ​ | $ | - | ​ | $ | - | ​ | 4 | ​ | $ | 5,028 | ​ | $ | 169,574 | ​ | 4 | ​ | $ | 5,028 | ​ | $ | 169,574
U.S. government agencies | ​ | - | ​ | ​ | - | ​ | ​ | - | ​ | 9 | ​ | ​ | 3,052 | ​ | ​ | 56,959 | ​ | 9 | ​ | ​ | 3,052 | ​ | ​ | 56,959
U.S. government agencies mortgage-backed | ​ | - | ​ | ​ | - | ​ | ​ | - | ​ | 128 | ​ | ​ | 12,122 | ​ | ​ | 106,370 | ​ | 128 | ​ | ​ | 12,122 | ​ | ​ | 106,370
States and political subdivisions | ​ | 12 | ​ | ​ | 137 | ​ | ​ | 27,974 | ​ | 25 | ​ | ​ | 10,195 | ​ | ​ | 106,138 | ​ | 37 | ​ | ​ | 10,332 | ​ | ​ | 134,112
Collateralized mortgage obligations | ​ | 2 | ​ | ​ | 8 | ​ | ​ | 734 | ​ | 143 | ​ | ​ | 50,856 | ​ | ​ | 376,236 | ​ | 145 | ​ | ​ | 50,864 | ​ | ​ | 376,970
Asset-backed securities | ​ | - | ​ | ​ | - | ​ | ​ | - | ​ | 19 | ​ | ​ | 3,222 | ​ | ​ | 63,941 | ​ | 19 | ​ | ​ | 3,222 | ​ | ​ | 63,941
Collateralized loan obligations | ​ | - | ​ | ​ | - | ​ | ​ | - | ​ | 25 | ​ | ​ | 1,350 | ​ | ​ | 150,902 | ​ | 25 | ​ | ​ | 1,350 | ​ | ​ | 150,902
Total securities available-for-sale | ​ | 14 | ​ | $ | 145 | ​ | $ | 28,708 | ​ | 353 | ​ | $ | 85,825 | ​ | $ | 1,030,120 | ​ | 367 | ​ | $ | 85,970 | ​ | $ | 1,058,828
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of proceeds from sale and gross realized gains and losses on sale of securities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three Months Ended | ​ | ​ | Nine Months Ended | ​ | ​
​ | ​ | ​ | September 30, | ​ | ​ | September 30, | ​ | ​
Securities available-for-sale |  | 2024 |  | 2023 | ​ | 2024 |  | 2023 |  | ​
Proceeds from sales of securities | ​ | $ | - | ​ | $ | 65,572 | ​ | $ | 5,331 | ​ | $ | 205,738 | ​ | ​
Gross realized gains on securities | ​ | $ | - | ​ | $ | - | ​ | $ | 1 | ​ | $ | - | ​ | ​
Gross realized losses on securities | ​ |  | (1) | ​ |  | (924) | ​ |  | (1) | ​ |  | (4,146) | ​ | ​
Net realized (losses) gains | ​ | $ | (1) | ​ | $ | (924) | ​ | $ | - | ​ | $ | (4,146) | ​ | ​
Income tax benefit on net realized losses | ​ | $ | - | ​ | $ | 260 | ​ | $ | - | ​ | $ | 1,165 | ​ | ​
Effective tax rate applied | ​ | ​ | 0.0 | % | ​ | 28.1 | % | ​ | N/M | ​ | ​ | 28.1 | % | ​
​ N/M – Not meaningful.

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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses by categories of investments and length of time (that is, the amount by which amortized cost basis exceeds fair value). + References No definition available. + Details
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- Definition 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 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-9 + Details
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