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v3.25.2

Investment Securities (Tables) | 6 Months Ended
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Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract] |
Amortized Cost, Estimated Fair Value and Allowance for Credit Losses of HTM Securities and AFS Securities by Contractual Maturities | The following table shows the amortized cost, the estimated fair value and the allowance for credit losses of the held-to-maturity securities and available-for-sale securities at June 30, 2025 and December 31, 2024, by contractual maturity within each type:
| At June 30, 2025
(Dollars in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for Credit Losses |  | Fair Value
Securities Held-to-Maturity |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |
After 1 year to 5 years | $ | 796 |  |  | $ | — |  |  | $ | (13) |  |  | $ | — |  |  | $ | 783 |
After 5 years to 10 years | 11,990 |  |  | — |  |  | (350) |  |  | — |  |  | 11,640 |
Over 10 years | 115,669 |  |  | — |  |  | (14,926) |  |  | — |  |  | 100,743 |
| 128,455 |  |  | — |  |  | (15,289) |  |  | — |  |  | 113,166 |
Total | $ | 128,455 |  |  | $ | — |  |  | $ | (15,289) |  |  | $ | — |  |  | $ | 113,166 |
Securities Available-for-Sale |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |
Within 1 year | $ | 6 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6 |
After 1 year to 5 years | 206 |  |  | — |  |  | (3) |  |  | — |  |  | 203 |
After 5 years to 10 years | 10,121 |  |  | — |  |  | (513) |  |  | — |  |  | 9,608 |
Over 10 years | 310,920 |  |  | 748 |  |  | (30,327) |  |  | — |  |  | 281,341 |
| 321,253 |  |  | 748 |  |  | (30,843) |  |  | — |  |  | 291,158 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |
After 1 year to 5 years | 112 |  |  | — |  |  | (2) |  |  | — |  |  | 110 |
Over 10 years | 1,528 |  |  | — |  |  | (97) |  |  | — |  |  | 1,431 |
| 1,640 |  |  | — |  |  | (99) |  |  | — |  |  | 1,541 |
Corporate bonds: |  |  |  |  |  |  |  |  |
Within 1 year | 8,889 |  |  | 5 |  |  | (94) |  |  | (6) |  |  | 8,794 |
After 1 year to 5 years | 48,394 |  |  | 66 |  |  | (2,613) |  |  | (11) |  |  | 45,836 |
After 5 years to 10 years | 20,500 |  |  | 15 |  |  | (1,423) |  |  | — |  |  | 19,092 |
| 77,783 |  |  | 86 |  |  | (4,130) |  |  | (17) |  |  | 73,722 |
Total | $ | 400,676 |  |  | $ | 834 |  |  | $ | (35,072) |  |  | $ | (17) |  |  | $ | 366,421 |
| At December 31, 2024
(Dollars in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Allowance for Credit Losses |  | Fair Value
Securities Held-to-Maturity |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |
After 1 year to 5 years | $ | 1,114 |  |  | $ | — |  |  | $ | (24) |  |  | $ | — |  |  | $ | 1,090 |
After 5 years to 10 years | 10,208 |  |  | — |  |  | (450) |  |  | — |  |  | 9,758 |
Over 10 years | 122,789 |  |  | — |  |  | (18,630) |  |  | — |  |  | 104,159 |
| 134,111 |  |  | — |  |  | (19,104) |  |  | — |  |  | 115,007 |
Total | $ | 134,111 |  |  | $ | — |  |  | $ | (19,104) |  |  | $ | — |  |  | $ | 115,007 |
Securities Available-for-Sale |  |  |  |  |  |  |  |  |
State and political subdivisions: |  |  |  |  |  |  |  |  |
Within 1 year | $ | 1,300 |  |  | $ | — |  |  | $ | (5) |  |  | $ | — |  |  | $ | 1,295 |
| 1,300 |  |  | — |  |  | (5) |  |  | — |  |  | 1,295 |
Residential mortgage-backed securities: |  |  |  |  |  |  |  |  |
Within 1 year | 20 |  |  | — |  |  | — |  |  | — |  |  | 20 |
After 1 year to 5 years | 298 |  |  | — |  |  | (6) |  |  | — |  |  | 292 |
After 5 years to 10 years | 11,260 |  |  | — |  |  | (791) |  |  | — |  |  | 10,469 |
Over 10 years | 311,126 |  |  | 119 |  |  | (38,645) |  |  | — |  |  | 272,600 |
| 322,704 |  |  | 119 |  |  | (39,442) |  |  | — |  |  | 283,381 |
Collateralized mortgage obligations: |  |  |  |  |  |  |  |  |
After 1 year to 5 years | 155 |  |  | — |  |  | (4) |  |  | — |  |  | 151 |
Over 10 years | 1,663 |  |  | — |  |  | (129) |  |  | — |  |  | 1,534 |
| 1,818 |  |  | — |  |  | (133) |  |  | — |  |  | 1,685 |
Corporate bonds: |  |  |  |  |  |  |  |  |
Within 1 year | 5,905 |  |  | 5 |  |  | (58) |  |  | (6) |  |  | 5,846 |
After 1 year to 5 years | 10,924 |  |  | 16 |  |  | (303) |  |  | (31) |  |  | 10,606 |
After 5 years to 10 years | 60,000 |  |  | — |  |  | (4,650) |  |  | (802) |  |  | 54,548 |
| 76,829 |  |  | 21 |  |  | (5,011) |  |  | (839) |  |  | 71,000 |
Total | $ | 402,651 |  |  | $ | 140 |  |  | $ | (44,591) |  |  | $ | (839) |  |  | $ | 357,361 |
Available-for-sale Securities, Allowance for Credit Loss Rollforward | The table below presents a roll forward by major security type for the six months ended June 30, 2025 and June 30, 2024 of the allowance for credit losses on securities available-for-sale.
(Dollars in thousands) | Corporate Bonds
Six months ended June 30, 2025 |
Securities Available-for-Sale |
Beginning balance | $ | (839) |
Change in securities for which a previous expected credit loss was recognized | 822 |
Ending balance | $ | (17) |
Six months ended June 30, 2024 |
Securities Available-for-Sale |
Beginning balance | $ | (731) |
Additions for securities for which no previous expected credit losses were recognized | (1) |
Change in securities for which a previous expected credit loss was recognized | (49) |
Ending balance | $ | (781) |
Unrealized Gain (Loss) on Investments | The following table shows the fair value of securities that were in an unrealized loss position for which an allowance for credit losses has not been recorded at June 30, 2025 and December 31, 2024, by the length of time those securities were in a continuous loss position.
| Less than Twelve Months |  | Twelve Months or Longer |  | Total
(Dollars in thousands) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
At June 30, 2025 |  |  |  |  |  |  |  |  |  |  |
Securities Held-to-Maturity |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | 2,573 |  |  | $ | (17) |  |  | $ | 109,356 |  |  | $ | (15,272) |  |  | $ | 111,929 |  |  | $ | (15,289) |
Total | $ | 2,573 |  |  | $ | (17) |  |  | $ | 109,356 |  |  | $ | (15,272) |  |  | $ | 111,929 |  |  | $ | (15,289) |
Securities Available-for-Sale |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | 25,762 |  |  | $ | (151) |  |  | $ | 201,199 |  |  | $ | (30,692) |  |  | $ | 226,961 |  |  | $ | (30,843) |
Collateralized mortgage obligations | — |  |  | — |  |  | 1,542 |  |  | (99) |  |  | 1,542 |  |  | (99) |
Corporate bonds | 996 |  |  | (2) |  |  | 56,977 |  |  | (3,938) |  |  | 57,973 |  |  | (3,940) |
Total | $ | 26,758 |  |  | $ | (153) |  |  | $ | 259,718 |  |  | $ | (34,729) |  |  | $ | 286,476 |  |  | $ | (34,882) |
At December 31, 2024 |  |  |  |  |  |  |  |  |  |  |
Securities Held-to-Maturity |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | 2,566 |  |  | $ | (50) |  |  | $ | 112,441 |  |  | $ | (19,054) |  |  | $ | 115,007 |  |  | $ | (19,104) |
Total | $ | 2,566 |  |  | $ | (50) |  |  | $ | 112,441 |  |  | $ | (19,054) |  |  | $ | 115,007 |  |  | $ | (19,104) |
Securities Available-for-Sale |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed securities | $ | 65,044 |  |  | $ | (905) |  |  | $ | 205,071 |  |  | $ | (38,537) |  |  | $ | 270,115 |  |  | $ | (39,442) |
Collateralized mortgage obligations | — |  |  | — |  |  | 1,685 |  |  | (133) |  |  | 1,685 |  |  | (133) |
Total | $ | 65,044 |  |  | $ | (905) |  |  | $ | 206,756 |  |  | $ | (38,670) |  |  | $ | 271,800 |  |  | $ | (39,575) |

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- Definition Tabular disclosure of allowance for credit loss on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-9 + Details
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