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Investment Securities (Tables)
6 Months Ended
Jun. 30, 2024
Securities Financing Transactions Disclosures [Abstract]  
Schedule of Unrealized Gain (Loss) on Investments
The amortized cost and estimated fair value of investment securities for the periods presented:
June 30, 2024
(In thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross Unrealized
Losses
Estimated
Fair Value
Available-for-sale
U.S. Treasury and U.S. government agencies$31,693 $ $1,074 $30,619 
Mortgage-backed U.S. government agencies160,932  18,895 142,037 
State and political subdivision obligations4,320  729 3,591 
Corporate debt securities35,742  4,053 31,689 
Total available-for-sale debt securities232,687  24,751 207,936 
Held-to-maturity
U.S. Treasury and U.S. government agencies$245,873 $ $30,436 $215,437 
Mortgage-backed U.S. government agencies40,845  5,776 35,069 
State and political subdivision obligations81,142  7,719 73,423 
Corporate debt securities25,460  2,114 23,346 
Total held-to-maturity debt securities393,320  46,045 347,275 
Total$626,007 $ $70,796 $555,211 
December 31, 2023
(In thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross Unrealized
Losses
Estimated
Fair Value
Available-for-sale
U.S. Treasury and U.S. government agencies$36,637 $— $988 $35,649 
Mortgage-backed U.S. government agencies169,184 — 16,501 152,683 
State and political subdivision obligations4,332 — 686 3,646 
Corporate debt securities35,733 — 4,156 31,577 
Total available-for-sale debt securities$245,886 $— $22,331 $223,555 
Held-to-maturity     
U.S. Treasury and U.S. government agencies$245,805 $$28,676 $217,131 
Mortgage-backed U.S. government agencies43,818 — 5,523 38,295 
State and political subdivision obligations84,035 11 6,486 77,560 
Corporate debt securities25,470 — 935 24,535 
Total held-to-maturity debt securities399,128 13 41,620 357,521 
Total$645,014 $13 $63,951 $581,076 
Schedule of Fair Value and Unrealized Loss on Debt Security Investments in a Continuous Unrealized Loss Position
The following tables present gross unrealized losses and fair value of debt investment securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the periods presented:
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
June 30, 2024Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies$ $ 17$30,619 $1,074 17$30,619 $1,074 
Mortgage-backed U.S. government agencies  93142,037 18,895 93142,037 18,895 
State and political subdivision obligations  83,591 729 83,591 729 
Corporate debt securities1413 87 1731,276 3,966 1831,689 4,053 
Total available-for-sale debt securities1$413 $87 135$207,523 $24,664 136$207,936 $24,751 
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies  145215,437 30,436 145215,437 30,436 
Mortgage-backed U.S. government agencies  6435,069 5,776 6435,069 5,776 
State and political subdivision obligations3952 18 18672,471 7,701 18973,423 7,719 
Corporate debt securities612,950 1,050 910,396 1,064 1523,346 2,114 
Total held-to-maturity debt securities913,902 1,068 404333,373 44,977 413347,275 46,045 
Total10$14,315 $1,155 539$540,896 $69,641 549$555,211 $70,796 
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
December 31, 2023Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Available-for-sale securities:
U.S. Treasury and U.S. government agencies$— $— 19$35,649 $988 19$35,649 $988 
Mortgage-backed U.S. government agencies14,015 26 92148,668 16,475 93152,683 16,501 
State and political subdivision obligations— — 83,646 686 83,646 686 
Corporate debt securities1410 90 1731,167 4,066 1831,577 4,156 
Total available-for-sale securities24,425 116 136219,130 22,215 138223,555 22,331 
Held-to-maturity securities:
U.S. Treasury and U.S. government agencies1$2,002 $— 144$215,129 $28,676 145$217,131 $28,676 
Mortgage-backed U.S. government agencies— — 6438,295 5,523 6438,295 5,523 
State and political subdivision obligations258,729 63 17068,831 6,423 19577,560 6,486 
Corporate debt securities1936 57 1423,599 878 1524,535 935 
Total held to maturity securities2711,667 120 392345,854 41,500 419357,521 41,620 
Total29$16,092 $236 528$564,984 $63,715 557$581,076 $63,951 
Schedule of Investments Classified by Contractual Maturity Date
The table below illustrates the contractual maturity of debt investment securities at amortized cost and estimated fair value. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay with or without call or prepayment penalties.
(In thousands)Available-for-saleHeld-to-maturity
June 30, 2024Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in 1 year or less$12,000 $11,870 $17,458 $17,255 
Due after 1 year but within 5 years29,949 28,395 125,451 115,700 
Due after 5 years but within 10 years28,481 24,565 189,439 162,513 
Due after 10 years1,325 1,069 20,127 16,738 
71,755 65,899 352,475 312,206 
Mortgage-backed securities160,932 142,037 40,845 35,069 
$232,687 $207,936 $393,320 $347,275