XML 38 R27.htm IDEA: XBRL DOCUMENT v3.24.3
SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and fair values of securities available-for-sale, with gross unrealized gains and losses
The amortized cost and fair values of debt securities, with gross unrealized gains and losses and allowance for credit losses, are as follows:
September 30, 2024
(dollars in thousands)Amortized Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
Available-for-sale:
U.S. Treasury$139,692$—$(7,320)$—$132,372
U.S. government agency59,167101(1,969)—57,299
Municipal154,04215(16,185)—137,872
Mortgage-backed:
Agency residential212,5511,007(10,309)—203,249
Agency commercial131,3138(10,229)—121,092
Corporate61,71696(3,393)—58,419
Total available-for-sale$758,481$1,227$(49,405)$—$710,303
September 30, 2024
(dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAllowance for Credit Losses
Held-to-maturity:
U.S. government agency$88,465$—$(6,031)$82,434$—
Municipal36,319353(138)36,534—
Mortgage-backed:
Agency residential88,23221(3,595)84,658—
Agency commercial292,05926(32,452)259,633—
Total held-to-maturity$505,075$400$(42,216)$463,259$—
December 31, 2023
(dollars in thousands)Amortized Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
Available-for-sale:
U.S. Treasury$159,715$—$(11,093)$—$148,622
U.S. government agency55,359—(3,262)—52,097
Municipal229,03026(23,499)—205,557
Mortgage-backed:
Agency residential188,64161(14,718)—173,984
Agency commercial141,2143(14,205)—127,012
Corporate57,6659(5,485)—52,189
Total available-for-sale$831,624$99$(72,262)$—$759,461
December 31, 2023
(dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAllowance for Credit Losses
Held-to-maturity:
U.S. government agency$88,448$—$(8,292)$80,156$—
Municipal38,442394(163)38,673—
Mortgage-backed:
Agency residential95,828—(5,569)90,259—
Agency commercial298,721—(41,313)257,408—
Total held-to-maturity$521,439$394$(55,337)$466,496$—
The following table presents gross unrealized losses and fair value of debt securities available-for-sale that do not have an associated allowance for credit losses as of September 30, 2024 and December 31, 2023, aggregated by category and length of time that individual debt securities have been in a continuous unrealized loss position:
September 30, 2024
Investments in a Continuous Unrealized Loss Position
Less than 12 Months12 Months or MoreTotal
(dollars in thousands)
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Available-for-sale:
U.S. Treasury$— $— $(7,320)$132,372 $(7,320)$132,372 
U.S. government agency(5)2,995 (1,964)49,468 (1,969)52,463 
Municipal— — (16,185)135,209 (16,185)135,209 
Mortgage-backed:
Agency residential(116)19,691 (10,193)137,916 (10,309)157,607 
Agency commercial(5)2,595 (10,224)116,421 (10,229)119,016 
Corporate— — (3,393)44,464 (3,393)44,464 
Total available-for-sale$(126)$25,281 $(49,279)$615,850 $(49,405)$641,131 
December 31, 2023
Investments in a Continuous Unrealized Loss Position
Less than 12 Months12 Months or MoreTotal
(dollars in thousands)
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Available-for-sale:
U.S. Treasury$— $— $(11,093)$148,622 $(11,093)$148,622 
U.S. government agency(2)168 (3,260)51,910 (3,262)52,078 
Municipal(26)4,749 (23,473)194,287 (23,499)199,036 
Mortgage-backed:
Agency residential(163)9,354 (14,555)156,785 (14,718)166,139 
Agency commercial(26)3,016 (14,179)123,404 (14,205)126,420 
Corporate(414)4,361 (5,071)45,826 (5,485)50,187 
Total available-for-sale$(631)$21,648 $(71,631)$720,834 $(72,262)$742,482 
Schedule of amortized cost and fair value of securities by contractual maturity
The amortized cost and fair value of debt securities by contractual maturity, as of September 30, 2024, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
Available-for-SaleHeld-to-Maturity
(dollars in thousands)
Amortized
Cost
Fair Value
Amortized
Cost
Fair Value
Due in 1 year or less$50,398 $49,930 $4,891 $4,873 
Due after 1 year through 5 years184,468 174,898 49,208 47,631 
Due after 5 years through 10 years157,851 142,184 68,427 64,225 
Due after 10 years21,900 18,950 2,258 2,239 
Mortgage-backed:
Agency residential212,551 203,249 88,232 84,658 
Agency commercial131,313 121,092 292,059 259,633 
Total$758,481 $710,303 $505,075 $463,259 
Schedule of sales of debt securities
Sales of debt securities were as follows during the three and nine months ended September 30:
Three Months Ended September 30,Nine Months Ended September 30,
(dollars in thousands)2024202320242023
Proceeds from sales$—$39,436$66,812$185,280
Gross realized gains————
Gross realized losses—(813)(3,382)(1,820)
Debt securities, trading, and equity securities, FV-NI
The initial cost and carrying values of equity securities, with cumulative net unrealized gains and losses were as follows:
September 30, 2024
(dollars in thousands)Readily
Determinable
Fair Value		No Readily
Determinable
Fair Value
Initial cost$3,124 $2,973 
Cumulative net unrealized gains (losses)240 (335)
Carrying value$3,364 $2,638 
December 31, 2023
(dollars in thousands)Readily
Determinable
Fair Value		No Readily
Determinable
Fair Value
Initial cost$3,143 $2,840 
Cumulative net unrealized gains (losses)217 (335)
Carrying value$3,360 $2,505 
Schedule of unrealized gains (losses) on equity securities
Unrealized gains (losses) on equity securities were as follows during the three and nine months ended September 30, 2024 and 2023:
Three Months Ended September 30,Nine Months Ended September 30,
(dollars in thousands)2024202320242023
Readily determinable fair value$136$(46)$24$77 
No readily determinable fair value——— (138)
Unrealized gains (losses) on equity securities$136$(46)$24 $(61)