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INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Summary of available for sale and held to maturity investment securities

The following tables present the amortized cost, fair value and related ACL on available-for-sale ("AFS") and held-to-maturity ("HTM") investment securities as of September 30, 2025 and December 31, 2024 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses:

						Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						ACL
(dollars in thousands)
September 30, 2025
Available-for-sale:
Debt securities:
States and political subdivisions						$	141,949					$	78					$	(25,780)					$	116,247					$	—
U.S. Treasury and other government-sponsored entities and agencies						101,244						1,056						(1,539)						100,761						—
Collateralized loan obligations						40,973						48						(118)						40,903						—
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies						454,994						2,466						(40,905)						416,555						—
Residential - Non-government agencies						16,479						205						(721)						15,963						—
Commercial - U.S. government-sponsored entities and agencies						79,722						360						(11,828)						68,254						—
Total available-for-sale investment securities						$	835,361					$	4,213					$	(80,891)					$	758,683					$	—

						Amortized Cost						Gross Unrecognized Gains						Gross Unrecognized Losses						Fair Value						ACL
(dollars in thousands)
September 30, 2025
Held-to-maturity:
Debt securities:
States and political subdivisions						$	41,956					$	—					$	(8,416)					$	33,540					$	—
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies						528,930						137						(61,748)						467,319						—
Total held-to-maturity investment securities						$	570,886					$	137					$	(70,164)					$	500,859					$	—

						Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						ACL
(dollars in thousands)
December 31, 2024
Available-for-sale:
Debt securities:
States and political subdivisions						$	147,014					$	2					$	(30,183)					$	116,833					$	—
U.S. Treasury and other government-sponsored entities and agencies						83,861						81						(2,742)						81,200						—
Collateralized loan obligations						31,254						—						(114)						31,140						—
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies						472,476						42						(58,047)						414,471						—
Residential - Non-government agencies						17,836						151						(1,061)						16,926						—
Commercial - U.S. government-sponsored entities and agencies						81,400						76						(14,315)						67,161						—
Commercial - Non-government agencies						9,933						—						(6)						9,927						—
Total available-for-sale investment securities						$	843,774					$	352					$	(106,468)					$	737,658					$	—

						Amortized Cost						Gross Unrecognized Gains						Gross Unrecognized Losses						Fair Value						ACL
(dollars in thousands)
December 31, 2024
Held-to-maturity:
Debt securities:
States and political subdivisions						$	42,016					$	—					$	(8,884)					$	33,132					$	—
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies						554,914						—						(81,365)						473,549						—
Total held-to-maturity investment securities						$	596,930					$	—					$	(90,249)					$	506,681					$	—

Schedule of amortized cost and estimated fair value of investment securities by contractual maturity

The amortized cost, estimated fair value and weighted average yield of the Company's AFS and HTM investment securities as of September 30, 2025, are presented below, grouped by contractual maturity. Expected maturities may differ from contractual maturities due to the issuer's option to call or prepay obligations, with or without penalties. Securities that are not due at a single maturity date, such as mortgage-backed securities and other asset-backed investments, are presented separately.

(dollars in thousands)						Amortized Cost						Fair Value						Weighted Average Yield (1)
September 30, 2025
Available-for-sale:
Debt securities:
Due in one year or less						$	3,992					$	4,062					5.87		%
Due after one year through five years						39,214						39,312						4.13
Due after five years through ten years						62,232						61,107						3.69
Due after ten years						137,755						112,527						2.83
Collateralized loan obligations						40,973						40,903						5.78
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies						454,994						416,555						2.99
Residential - Non-government agencies						16,479						15,963						4.46
Commercial - U.S. government-sponsored entities and agencies						79,722						68,254						2.74
Total available-for-sale securities						$	835,361					$	758,683					3.26		%

(dollars in thousands)						Amortized Cost						Fair Value						Weighted Average Yield (1)
September 30, 2025
Held-to-maturity:
Debt securities:
Due after ten years						$	41,956					$	33,540					2.26		%
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies						528,930						467,319						1.86
Total held-to-maturity securities						$	570,886					$	500,859					1.89		%

(1)Weighted-average yields are computed on an annual basis, and yields on tax-exempt obligations are computed on a taxable-equivalent basis using a federal statutory tax rate of 21%.

Schedule of investment securities in an unrealized loss position

The following tables summarize AFS and HTM investment securities that were in a loss position as of the dates presented. The data is aggregated by major security type and the length of time the securities have been in a continuous loss position.

There were a total of 183 and 218 AFS investment securities that were in an unrealized loss position, without an ACL, as of September 30, 2025 and December 31, 2024, respectively. There were a total of 81 and 83 HTM investment securities that were in an unrecognized loss position, without an ACL, as of September 30, 2025 and December 31, 2024, respectively.

						Less Than 12 Months												12 Months or Longer												Total
(dollars in thousands)						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
September 30, 2025
Available-for-sale:
Debt securities:
States and political subdivisions						$	—					$	—					$	107,238					$	(25,780)					$	107,238					$	(25,780)
U.S. Treasury and other government-sponsored entities and agencies						21,728						(81)						12,189						(1,458)						33,917						(1,539)
Collateralized loan obligations						31,084						(118)						—						—						31,084						(118)
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies						—						—						266,084						(40,905)						266,084						(40,905)
Residential - Non-government agencies						4,860						(1)						7,194						(720)						12,054						(721)
Commercial - U.S. government-sponsored entities and agencies						—						—						49,636						(11,828)						49,636						(11,828)
Total						$	57,672					$	(200)					$	442,341					$	(80,691)					$	500,013					$	(80,891)

						Less Than 12 Months												12 Months or Longer												Total
(dollars in thousands)						Fair Value						Unrecognized Losses						Fair Value						Unrecognized Losses						Fair Value						Unrecognized Losses
September 30, 2025
Held-to-maturity:
Debt securities:
States and political subdivisions						$	—					$	—					$	33,540					$	(8,416)					$	33,540					$	(8,416)
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies						—						—						456,209						(61,748)						456,209						(61,748)
Total						$	—					$	—					$	489,749					$	(70,164)					$	489,749					$	(70,164)

						Less Than 12 Months												12 Months or Longer												Total
(dollars in thousands)						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Fair Value						Unrealized Losses
December 31, 2024
Available-for-sale:
Debt securities:
States and political subdivisions						$	4,967					$	(85)					$	107,267					$	(30,098)					$	112,234					$	(30,183)
U.S. Treasury and other government-sponsored entities and agencies						56,139						(803)						12,971						(1,939)						69,110						(2,742)
Collateralized loan obligations						31,140						(114)						—						—						31,140						(114)
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies						135,224						(2,254)						260,575						(55,793)						395,799						(58,047)
Residential - Non-government agencies						5,270						(100)						7,606						(961)						12,876						(1,061)
Commercial - U.S. government-sponsored entities and agencies						12,469						(90)						48,304						(14,225)						60,773						(14,315)
Commercial - Non-government agencies						9,927						(6)						—						—						9,927						(6)
Total						$	255,136					$	(3,452)					$	436,723					$	(103,016)					$	691,859					$	(106,468)

						Less Than 12 Months												12 Months or Longer												Total
(dollars in thousands)						Fair Value						Unrecognized Losses						Fair Value						Unrecognized Losses						Fair Value						Unrecognized Losses
December 31, 2024
Held-to-maturity:
Debt securities:
States and political subdivisions						$	—					$	—					$	33,132					$	(8,884)					$	33,132					$	(8,884)
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies						7,470						(19)						466,079						(81,346)						473,549						(81,365)
Total						$	7,470					$	(19)					$	499,211					$	(90,230)					$	506,681					$	(90,249)

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Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
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-Name Accounting Standards Codification
-Section 55
-Paragraph 8
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-Topic 326
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-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-4

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