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INVESTMENT SECURITIES (Tables)
3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Fair Values of AFS Securities
At March 31, 2025 and December 31, 2024, all investment securities were classified as AFS. The following table summarizes amortized cost and fair value of investment securities, the corresponding amounts of gross unrealized gains and losses recognized in AOCI and the ACL at March 31, 2025 and December 31, 2024:
Amortized CostGross Unrealized
Gains
Gross Unrealized
Losses
Allowance for Credit LossesFair Value
March 31, 2025
U.S. Treasury securities$20,040 $ $1,623 $ $18,417 
U.S. Government Agencies2,712 88   2,800 
States and political subdivisions219,924 93 22,911  197,106 
GSE residential MBSs160,852 941 2,805  158,988 
GSE commercial MBSs7,415 84 2  7,497 
GSE residential CMOs354,375 2,634 5,602  351,407 
Non-agency CMOs33,241 185 1,910  31,516 
Asset-backed86,077 429 962  85,544 
Corporate debt1,939 35   1,974 
Other207    207 
Totals$886,782 $4,489 $35,815 $ $855,456 
December 31, 2024
U.S. Treasury securities$20,043 $— $1,980 $— $18,063 
U.S. Government Agencies2,953 100 — — 3,053 
States and political subdivisions220,418 10 20,400 — 200,028 
GSE residential MBSs155,793 52 4,297 — 151,548 
GSE commercial MBSs8,570 243 21 — 8,792 
GSE residential CMOs331,016 485 6,809 — 324,692 
Non-agency CMOs35,548 202 2,466 — 33,284 
Asset-backed88,450 655 1,002 — 88,103 
Corporate bonds1,935 19 — — 1,954 
Other194 — — — 194 
Totals$864,920 $1,766 $36,975 $— $829,711 
Summary of Investment Securities with Unrealized Losses
The following table summarizes investment securities with unrealized losses at March 31, 2025 and December 31, 2024, aggregated by major investment security type and the length of time in a continuous unrealized loss position.
 Less Than 12 Months12 Months or MoreTotal
# of SecuritiesFair ValueUnrealized
Losses
# of SecuritiesFair ValueUnrealized
Losses
# of SecuritiesFair ValueUnrealized
Losses
March 31, 2025
U.S. Treasury securities $ $ 3 $18,417 $1,623 3 $18,417 $1,623 
States and political subdivisions5 5,104 32 42 186,328 22,879 47 191,432 22,911 
GSE residential MBSs6 7,087 16 15 55,334 2,789 21 62,421 2,805 
GSE commercial MBS1 669 2    1 669 2 
GSE residential CMOs19 131,523 426 18 70,080 5,176 37 201,603 5,602 
Non-agency CMOs2 8,660 127 4 16,837 1,783 6 25,497 1,910 
Asset-backed3 11,071 91 9 43,085 871 12 54,156 962 
Totals36 $164,114 $694 91 $390,081 $35,121 127 $554,195 $35,815 
December 31, 2024
U.S. Treasury securities— $— $— $18,063 $1,980 $18,063 $1,980 
States and political subdivisions13 10,080 131 42 189,448 20,269 55 199,528 20,400 
GSE residential MBSs68 85,836 1,117 15 55,579 3,180 83 141,415 4,297 
GSE commercial MBS2,963 21 — — — 2,963 21 
GSE residential CMOs52 158,439 729 15 56,443 6,080 67 214,882 6,809 
Non-agency CMOs8,816 218 16,636 2,248 25,452 2,466 
Asset-backed11,964 17 44,130 985 13 56,094 1,002 
Totals142 $278,098 $2,233 88 $380,299 $34,742 230 $658,397 $36,975 
Schedule of Amortized Cost and Fair Values of AFS Securities by Contractual Maturity
The following table summarizes amortized cost and fair value of investment securities by contractual maturity at March 31, 2025. Expected maturities may differ from contractual maturities if issuers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
Amortized CostFair Value
Due in one year or less$ $ 
Due after one year through five years42,378 39,808 
Due after five years through ten years51,456 47,411 
Due after ten years150,988 133,285 
CMOs and MBSs555,883 549,408 
Asset-backed86,077 85,544 
Totals$886,782 $855,456 
Proceeds From Sale of AFS Securities and Gross Gains and Gross Losses
The following table summarizes proceeds from sales of investment securities and gross gains and gross losses for the three months ended March 31, 2025 and 2024:
Three months ended March 31,
20252024
Proceeds from sale of investment securities$ $— 
Gross gains13 — 
Gross losses