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v3.25.3

Investment Securities (Tables) | 9 Months Ended
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Sep. 30, 2025 | Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract] |  |
Schedule of Amortized, Gross Unrealized Gains and Losses, and Fair Value on Investment Securities, Available for Sale | The following tables present the amortized cost and fair value of investment securities, and the corresponding amounts of gross unrealized and unrecognized gains and losses including the corresponding amounts of gross unrealized gains and losses on investment securities available for sale recognized in AOCI, at the dates indicated:
| September 30, 2025
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
| (Dollars in thousands)
Investment securities available for sale: |  |  |  |  |  |  |
U.S. government and agency securities | $ | 13,276 |  |  | $ | — |  |  | $ | (1,634) |  |  | $ | 11,642 |
Municipal securities | 59,581 |  |  | 19 |  |  | (8,403) |  |  | 51,197 |
Residential CMO and MBS(1) | 321,733 |  |  | 1,487 |  |  | (24,483) |  |  | 298,737 |
Commercial CMO and MBS(1) | 265,917 |  |  | 696 |  |  | (10,618) |  |  | 255,995 |
Corporate obligations | 7,000 |  |  | 63 |  |  | (44) |  |  | 7,019 |
Other asset-backed securities | 6,601 |  |  | 40 |  |  | — |  |  | 6,641 |
Total | $ | 674,108 |  |  | $ | 2,305 |  |  | $ | (45,182) |  |  | $ | 631,231 |
(1) U.S. government agency and government-sponsored enterprise CMO and MBS. |
| December 31, 2024
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
| (Dollars in thousands)
Investment securities available for sale: |  |  |  |  |  |  |
U.S. government and agency securities | $ | 14,934 |  |  | $ | — |  |  | $ | (2,390) |  |  | $ | 12,544 |
Municipal securities | 61,169 |  |  | 12 |  |  | (10,239) |  |  | 50,942 |
Residential CMO and MBS(1) | 407,520 |  |  | 711 |  |  | (38,900) |  |  | 369,331 |
Commercial CMO and MBS(1) | 330,249 |  |  | 134 |  |  | (20,642) |  |  | 309,741 |
Corporate obligations | 11,700 |  |  | 181 |  |  | (111) |  |  | 11,770 |
Other asset-backed securities | 10,020 |  |  | 47 |  |  | (1) |  |  | 10,066 |
Total | $ | 835,592 |  |  | $ | 1,085 |  |  | $ | (72,283) |  |  | $ | 764,394 |
(1) U.S. government agency and government-sponsored enterprise CMO and MBS.
Schedule of Amortized, Gross Unrecognized Gains and Losses, and Fair Value on Investment Securities, Held to Maturity |
| September 30, 2025
| Amortized Cost |  | Gross Unrecognized Gains |  | Gross Unrecognized Losses |  | Fair Value
| (Dollars in thousands)
Investment securities held to maturity: |  |  |  |  |  |  |
U.S. government and agency securities | $ | 151,297 |  |  | $ | — |  |  | $ | (21,846) |  |  | $ | 129,451 |
Residential CMO and MBS(1) | 224,654 |  |  | 88 |  |  | (10,188) |  |  | 214,554 |
Commercial CMO and MBS(1) | 305,675 |  |  | 22 |  |  | (21,653) |  |  | 284,044 |
Total | $ | 681,626 |  |  | $ | 110 |  |  | $ | (53,687) |  |  | $ | 628,049 |
(1) U.S. government agency and government-sponsored enterprise CMO and MBS. |
| December 31, 2024
| Amortized Cost |  | Gross Unrecognized Gains |  | Gross Unrecognized Losses |  | Fair Value
| (Dollars in thousands)
Investment securities held to maturity: |  |  |  |  |  |  |
U.S. government and agency securities | $ | 151,216 |  |  | $ | — |  |  | $ | (28,874) |  |  | $ | 122,342 |
Residential CMO and MBS(1) | 244,309 |  |  | — |  |  | (18,563) |  |  | 225,746 |
Commercial CMO and MBS(1) | 307,760 |  |  | 27 |  |  | (32,423) |  |  | 275,364 |
Total | $ | 703,285 |  |  | $ | 27 |  |  | $ | (79,860) |  |  | $ | 623,452 |
(1) U.S. government agency and government-sponsored enterprise CMO and MBS.
Schedule of Amortized Cost and Fair Value Classified by Contractual Maturity Date on Investment Securities | The following table presents the amortized cost and fair value of investment securities by contractual maturity at the date indicated. Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties.
| September 30, 2025
| Securities Available for Sale |  | Securities Held to Maturity
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
| (Dollars in thousands)
Due in one year or less | $ | 500 |  |  | $ | 501 |  |  | $ | — |  |  | $ | — |
Due after one year through five years | 8,938 |  |  | 8,770 |  |  | — |  |  | — |
Due after five years through ten years | 39,423 |  |  | 35,540 |  |  | 101,554 |  |  | 89,544 |
Due after ten years | 30,996 |  |  | 25,047 |  |  | 49,743 |  |  | 39,907 |
Total investment securities due at a single maturity date | 79,857 |  |  | 69,858 |  |  | 151,297 |  |  | 129,451 |
MBS(1) | 594,251 |  |  | 561,373 |  |  | 530,329 |  |  | 498,598 |
Total investment securities | $ | 674,108 |  |  | $ | 631,231 |  |  | $ | 681,626 |  |  | $ | 628,049 |
(1) MBS, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their payment speed. |
Schedule of Unrealized Losses on Investment Securities Available for Sale | Unrealized Losses on Investment Securities Available for Sale The following tables present the gross unrealized losses and fair value of the Company’s investment securities available for sale for which an ACL on investment securities available for sale has not been recorded, aggregated by investment category and length of time the individual securities have been in a continuous unrealized loss position at the dates indicated:
| September 30, 2025 |
| Less than 12 Months |  | 12 Months or Longer |  | Total |
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |
| (Dollars in thousands) |
U.S. government and agency securities | $ | — |  |  | $ | — |  |  | $ | 11,642 |  |  | $ | (1,634) |  |  | $ | 11,642 |  |  | $ | (1,634) |  |
Municipal securities | 1,247 |  |  | — |  | * | 45,486 |  |  | (8,403) |  |  | 46,733 |  |  | (8,403) |  |
Residential CMO and MBS(1) | 1,775 |  |  | (7) |  |  | 181,249 |  |  | (24,476) |  |  | 183,024 |  |  | (24,483) |  |
Commercial CMO and MBS(1) | 6,939 |  |  | (6) |  |  | 154,811 |  |  | (10,612) |  |  | 161,750 |  |  | (10,618) |  |
Corporate obligations | — |  |  | — |  |  | 3,956 |  |  | (44) |  |  | 3,956 |  |  | (44) |  |
Other asset-backed securities | 1,444 |  |  | — |  | * | — |  |  | — |  |  | 1,444 |  |  | — |  | *
Total | $ | 11,405 |  |  | $ | (13) |  |  | $ | 397,144 |  |  | $ | (45,169) |  |  | $ | 408,549 |  |  | $ | (45,182) |  |
* Unrealized losses less than one thousand dollars (1) U.S. government agency and government-sponsored enterprise CMO and MBS.
| December 31, 2024 |
| Less than 12 Months |  | 12 Months or Longer |  | Total |
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |
| (Dollars in thousands) |
U.S. government and agency securities | $ | — |  |  | $ | — |  |  | $ | 12,544 |  |  | $ | (2,390) |  |  | $ | 12,544 |  |  | $ | (2,390) |  |
Municipal securities | — |  |  | — |  |  | 45,157 |  |  | (10,239) |  |  | 45,157 |  |  | (10,239) |  |
Residential CMO and MBS(1) | 25,126 |  |  | (321) |  |  | 232,903 |  |  | (38,579) |  |  | 258,029 |  |  | (38,900) |  |
Commercial CMO and MBS(1) | 17,772 |  |  | (86) |  |  | 270,897 |  |  | (20,556) |  |  | 288,669 |  |  | (20,642) |  |
Corporate obligations | — |  |  | — |  |  | 3,890 |  |  | (111) |  |  | 3,890 |  |  | (111) |  |
Other asset-backed securities | 1,568 |  |  | (1) |  |  | — |  |  | — |  |  | 1,568 |  |  | (1) |  |
Total | $ | 44,466 |  |  | $ | (408) |  |  | $ | 565,391 |  |  | $ | (71,875) |  |  | $ | 609,857 |  |  | $ | (72,283) |  |
(1) U.S. government agency and government-sponsored enterprise CMO and MBS. |
Schedule of Realized Gains and Losses on Sale of Investment Securities Available for Sale | Realized Gains and Losses The following table presents the gross realized gains and losses on the sale of investment securities available for sale determined using the specific identification method for the dates indicated:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (Dollars in thousands)
Gross realized gains | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Gross realized losses | — |  |  | (6,945) |  |  | (10,741) |  |  | (18,839) |
Net realized losses | $ | — |  |  | $ | (6,945) |  |  | $ | (10,741) |  |  | $ | (18,839) |
Schedule of Amortized Cost and Fair Value of Investment Securities Pledged as Collateral | Pledged Securities The following table summarizes the amortized cost and fair value of investment securities that were pledged as collateral for the following obligations at the dates indicated:
| September 30, 2025 |  | December 31, 2024
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
| (Dollars in thousands)
State and local governments public deposits | $ | 226,998 |  |  | $ | 217,525 |  |  | $ | 236,047 |  |  | $ | 220,104 |
FRB | 399,815 |  |  | 360,030 |  |  | 434,534 |  |  | 373,410 |
Other securities pledged | 55,447 |  |  | 51,059 |  |  | 53,296 |  |  | 48,169 |
Total | $ | 682,260 |  |  | $ | 628,614 |  |  | $ | 723,877 |  |  | $ | 641,683 |

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