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SECURITIES (Tables)
6 Months Ended
Jun. 30, 2025
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:
June 30, 2025
(dollars in thousands)Amortized Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
Available-for-sale:
U.S. Treasury$99,710$$(5,733)$$93,977
U.S. government agency50,67995(1,540)49,234
Municipal153,45874(15,562)137,970
Mortgage-backed:
Agency residential309,8472,014(9,804)302,057
Agency commercial142,68258(9,065)133,675
Corporate58,119387(2,213)56,293
Total available-for-sale$814,495$2,628$(43,917)$$773,206
June 30, 2025
(dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAllowance for Credit Losses
Held-to-maturity:
U.S. government agency$88,484$$(6,146)$82,338$
Municipal31,031140(212)30,959
Mortgage-backed:
Agency residential80,877(3,770)77,107
Agency commercial281,55017(29,907)251,660
Total held-to-maturity$481,942$157$(40,035)$442,064$
December 31, 2024
(dollars in thousands)Amortized CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Allowance for Credit LossesFair Value
Available-for-sale:
U.S. Treasury$119,690$$(8,545)$$111,145
U.S. government agency55,742(2,544)53,198
Municipal150,163(19,484)130,679
Mortgage-backed:
Agency residential241,342253(14,227)227,368
Agency commercial128,8233(12,145)116,681
Corporate61,732156(2,910)58,978
Total available-for-sale$757,492$412$(59,855)$$698,049
December 31, 2024
(dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueAllowance for Credit Losses
Held-to-maturity:
U.S. government agency$88,472$$(8,819)$79,653$
Municipal35,86248(371)35,539
Mortgage-backed:
Agency residential85,643(5,796)79,847
Agency commercial289,881(39,734)250,147
Total held-to-maturity$499,858$48$(54,720)$445,186$
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 June 30, 2025 and December 31, 2024, aggregated by category and length of time that individual debt securities have been in a continuous unrealized loss position:
June 30, 2025
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$— $— $(5,733)$93,977 $(5,733)$93,977 
U.S. government agency— — (1,540)41,438 (1,540)41,438 
Municipal(62)2,816 (15,500)129,218 (15,562)132,034 
Mortgage-backed:
Agency residential(838)53,005 (8,966)116,454 (9,804)169,459 
Agency commercial(132)12,047 (8,933)110,685 (9,065)122,732 
Corporate(35)5,847 (2,178)29,798 (2,213)35,645 
Total available-for-sale$(1,067)$73,715 $(42,850)$521,570 $(43,917)$595,285 
December 31, 2024
Investments in a Continuous Unrealized Loss Position
Less than 12 Months12 Months or MoreTotal
(dollars in thousands)
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Unrealized
Loss
Fair Value
Available-for-sale:
U.S. Treasury$— $— $(8,545)$111,145 $(8,545)$111,145 
U.S. government agency(141)7,594 (2,403)45,604 (2,544)53,198 
Municipal(8)2,634 (19,476)127,776 (19,484)130,410 
Mortgage-backed:
Agency residential(2,041)81,055 (12,186)129,178 (14,227)210,233 
Agency commercial(125)3,327 (12,020)112,118 (12,145)115,445 
Corporate(4)1,996 (2,906)43,064 (2,910)45,060 
Total available-for-sale$(2,319)$96,606 $(57,536)$568,885 $(59,855)$665,491 
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 June 30, 2025, 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$36,650 $36,162 $3,422 $3,416 
Due after 1 year through 5 years167,929 157,963 59,325 57,307 
Due after 5 years through 10 years133,369 121,849 54,829 50,758 
Due after 10 years24,018 21,500 1,939 1,816 
Mortgage-backed:
Agency residential309,847 302,057 80,877 77,107 
Agency commercial142,682 133,675 281,550 251,660 
Total$814,495 $773,206 $481,942 $442,064 
Schedule of Sales of Debt Securities
Sales of debt securities were as follows during the three and six months ended June 30:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2025202420252024
Proceeds from sales$$$— $66,812 
Gross realized gains— — 
Gross realized losses— (3,382)
Schedule of the Initial Cost and Carrying Value of Equity Securities with Cumulative Net Unrealized Gains and (Losses)
The initial cost and carrying values of equity securities, with cumulative net unrealized gains and losses were as follows:
June 30, 2025
(dollars in thousands)Readily
Determinable
Fair Value
No Readily
Determinable
Fair Value
Initial cost$3,124 $2,978 
Cumulative net unrealized gains (losses)222 (369)
Carrying value$3,346 $2,609 
December 31, 2024
(dollars in thousands)Readily
Determinable
Fair Value
No Readily
Determinable
Fair Value
Initial cost$3,124 $2,998 
Cumulative net unrealized gains (losses)191 (369)
Carrying value$3,315 $2,629 
Schedule of Unrealized Gains (Losses) on Equity Securities
Unrealized gains (losses) on equity securities were as follows during the three and six months ended June 30, 2025 and 2024:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2025202420252024
Readily determinable fair value$23$(96)$31 $(112)
No readily determinable fair value— — 
Unrealized gains (losses) on equity securities$23$(96)$31 $(112)