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Investment Securities (Tables)
12 Months Ended
Dec. 31, 2024
Securities Financing Transactions Disclosures [Abstract]  
Schedule of Unrealized Gain (Loss) on Investments
The following tables set forth the amortized cost and estimated fair value of investment securities for the periods presented:
December 31, 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$22,247 $ $740 $21,507 
Mortgage-backed U.S. government agencies222,464 11 19,531 202,944 
State and political subdivision obligations4,309  713 3,596 
Corporate debt securities35,750  3,320 32,430 
Total available-for-sale debt securities$284,770 $11 $24,304 $260,477 
Held-to-maturity
U.S. Treasury and U.S. government agencies$241,941 $ $28,133 $213,808 
Mortgage-backed U.S. government agencies37,593  5,508 32,085 
State and political subdivision obligations77,462  6,840 70,622 
Corporate debt securities25,451  1,318 24,133 
Total held-to-maturity debt securities382,447  41,799 340,648 
Total$667,217 $11 $66,103 $601,125 
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 $581,076 
Schedule of Fair Value and Unrealized Loss on Investments in a Continuous Unrealized Loss Position
The following tables present gross unrealized losses and fair value of investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2024 and 2023.
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
December 31, 2024Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies$ $ 12$21,507 $740 12$21,507 $740 
Mortgage-backed U.S. government agencies972,499 1,847 91130,445 17,684 100202,944 19,531 
State and political subdivision obligations  83,596 713 83,596 713 
Corporate debt securities  1832,430 3,320 1832,430 3,320 
Total available-for-sale debt securities9$72,499 $1,847 129$187,978 $22,457 138$260,477 $24,304 
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies$ $ 143$213,808 $28,133 143$213,808 $28,133 
Mortgage-backed U.S. government agencies2163 1 6231,922 5,507 6432,085 5,508 
State and political subdivision obligations83,176 30 16967,446 6,810 17770,622 6,840 
Corporate debt securities410,500  1113,633 1,318 1524,133 1,318 
Total held-to-maturity debt securities1413,839 31 385326,809 41,768 399340,648 41,799 
Total23$86,338 $1,878 514$514,787 $64,225 537$601,125 $66,103 
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
December 31, 2023Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Available-for-sale securities:
U.S. Treasury and U.S. government agencies$— $— 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 securities2$4,425 $116 136$219,130 $22,215 138$223,555 $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
December 31, 2024Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in 1 year or less$10,503 $10,466 $19,563 $19,420 
Due after 1 year but within 5 years22,397 21,414 140,217 130,043 
Due after 5 years but within 10 years28,562 25,006 169,190 145,879 
Due after 10 years844 647 15,884 13,221 
62,306 57,533 344,854 308,563 
Mortgage-backed securities222,464 202,944 37,593 32,085 
$284,770 $260,477 $382,447 $340,648