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INVESTMENT SECURITIES (Tables)
6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost and Fair Values of AFS Securities
At June 30, 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 June 30, 2025 and December 31, 2024:
Amortized CostGross Unrealized
Gains
Gross Unrealized
Losses
Allowance for Credit LossesFair Value
June 30, 2025
U.S. Treasury securities$20,036 $ $1,395 $ $18,641 
U.S. Government Agencies2,375 76   2,451 
States and political subdivisions220,481 125 24,655  195,951 
GSE residential MBSs195,595 1,559 2,546  194,608 
GSE commercial MBSs7,386 119 16  7,489 
GSE residential CMOs342,909 3,401 5,561  340,749 
Non-agency CMOs42,775 182 1,661  41,296 
Asset-backed83,117 269 1,390  81,996 
Corporate debt1,941 36   1,977 
Other215    215 
Totals$916,830 $5,767 $37,224 $ $885,373 
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 debt1,935 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 June 30, 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
June 30, 2025
U.S. Treasury securities $ $ 3 $18,641 $1,395 3 $18,641 $1,395 
States and political subdivisions4 1,019 18 42 184,057 24,637 46 185,076 24,655 
GSE residential MBSs4 16,964 31 12 33,561 2,515 16 50,525 2,546 
GSE commercial MBS2 1,308 16    2 1,308 16 
GSE residential CMOs14 74,438 567 22 103,306 4,994 36 177,744 5,561 
Non-agency CMOs3 16,914 165 4 16,686 1,496 7 33,600 1,661 
Asset-backed6 27,372 181 9 41,646 1,209 15 69,018 1,390 
Totals33 $138,015 $978 92 $397,897 $36,246 125 $535,912 $37,224 
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 $36,975 
Schedule of Amortized Cost and Fair Values of AFS Securities by Contractual Maturity
The following table summarizes amortized cost and fair value of investment securities by contractual maturity at June 30, 2025. Expected maturities may differ from contractual maturities if issuers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
Amortized CostFair Value
Due in one year or less$ $ 
Due after one year through five years42,354 40,106 
Due after five years through ten years51,769 48,137 
Due after ten years150,925 130,992 
CMOs and MBSs588,665 584,142 
Asset-backed83,117 81,996 
Totals$916,830 $885,373 
Proceeds From Sale of AFS Securities and Gross Gains and Gross Losses
The following table summarizes proceeds from sales of investment securities and gross gains and gross losses for the three and six months ended June 30, 2025 and 2024:
Three months ended June 30,Six months ended June 30,
2025202420252024
Proceeds from sale of investment securities$ $— $ $— 
Gross gains8 — 21 — 
Gross losses 12  17