XML 29 R23.htm IDEA: XBRL DOCUMENT v3.25.1
Securities (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Securities, Trading, and Equity Securities, FV-NI, Cost [Abstract]  
Schedule of Gross Unrealized Gains and (Losses)

The fair value of equity securities and the related gross unrealized gains and (losses) recognized in noninterest income were as follows:

 

 

March 31, 2025

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

(Dollars in thousands)

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Equity securities

$

9,549

 

 

$

375

 

 

$

(596

)

 

$

9,328

 

 

 

December 31, 2024

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

(Dollars in thousands)

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Equity securities

$

8,043

 

 

$

397

 

 

$

(658

)

 

$

7,782

 
Schedule of Gross Unrealized Gains and Losses on Investment Securities Available for Sale Recognized in Accumulated Other Comprehensive Income (loss)

The following tables present the amortized cost and fair value of securities available for sale and the gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and the amortized cost and fair value of securities held to maturity and the related gross unrealized gains and losses:

 

 

March 31, 2025

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

(Dollars in thousands)

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

Available for Sale:

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

U.S. Government and federal agency

$

993

 

 

$

-

 

 

$

-

 

 

$

993

 

U.S. Treasury notes and bonds

 

94,451

 

 

 

6

 

 

 

(7,704

)

 

 

86,753

 

State and municipal

 

263,464

 

 

 

-

 

 

 

(39,224

)

 

 

224,240

 

Mortgage-backed

 

177,779

 

 

 

63

 

 

 

(18,502

)

 

 

159,340

 

Corporate

 

250

 

 

 

-

 

 

 

(38

)

 

 

212

 

Asset-backed securities

 

9,267

 

 

 

-

 

 

 

(155

)

 

 

9,112

 

Total

$

546,204

 

 

$

69

 

 

$

(65,623

)

 

$

480,650

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

Held to Maturity:

 

 

 

 

 

 

 

 

 

 

 

U.S. Government and federal agency

$

2,979

 

 

$

-

 

 

$

(224

)

 

$

2,755

 

State and municipal

 

199,997

 

 

 

4

 

 

 

(29,025

)

 

 

170,976

 

Mortgage-backed

 

170,795

 

 

 

4

 

 

 

(19,244

)

 

 

151,555

 

Corporate

 

20,503

 

 

 

26

 

 

 

(1,750

)

 

 

18,779

 

Asset-backed securities

 

160

 

 

 

-

 

 

 

(2

)

 

 

158

 

Total

$

394,434

 

 

$

34

 

 

$

(50,245

)

 

$

344,223

 

 

 

December 31, 2024

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

(Dollars in thousands)

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

Available for Sale:

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

U.S. Treasury notes and bonds

$

89,875

 

 

$

-

 

 

$

(9,373

)

 

$

80,502

 

State and municipal

 

258,815

 

 

 

-

 

 

 

(30,579

)

 

 

228,236

 

Mortgage-backed

 

181,863

 

 

 

62

 

 

 

(20,955

)

 

 

160,970

 

Corporate

 

250

 

 

 

-

 

 

 

(38

)

 

 

212

 

Asset-backed securities

 

9,387

 

 

 

-

 

 

 

(190

)

 

 

9,197

 

Total

$

540,190

 

 

$

62

 

 

$

(61,135

)

 

$

479,117

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

Held to Maturity:

 

 

 

 

 

 

 

 

 

 

 

U.S. Government and federal agency

$

2,978

 

 

$

-

 

 

$

(279

)

 

$

2,699

 

State and municipal

 

196,510

 

 

 

5

 

 

 

(31,477

)

 

 

165,038

 

Mortgage-backed

 

174,323

 

 

 

7

 

 

 

(21,963

)

 

 

152,367

 

Corporate

 

20,495

 

 

 

29

 

 

 

(1,803

)

 

 

18,721

 

Asset-backed securities

 

228

 

 

 

-

 

 

 

(5

)

 

 

223

 

Total

$

394,534

 

 

$

41

 

 

$

(55,527

)

 

$

339,048

 
Schedule of Available for Sale Securities with Unrealize Losses

Available for sale securities with unrealized losses as of March 31, 2025 and December 31, 2024, aggregated by investment category and length of time the individual securities have been in an unrealized loss position, were as follows:

 

 

March 31, 2025

 

 

Less than 12 months

 

 

More than 12 months

 

 

Total

 

(Dollars in thousands)

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

Available for Sale:

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

U.S. Treasury notes and bonds

$

-

 

$

-

 

$

82,054

 

$

7,704

 

$

82,054

 

$

7,704

 

State and municipal

 

849

 

 

-

 

 

223,246

 

 

39,224

 

 

224,095

 

 

39,224

 

Mortgage-backed

 

6,694

 

 

41

 

 

140,863

 

 

18,461

 

 

147,557

 

 

18,502

 

Corporate

 

-

 

 

-

 

 

212

 

 

38

 

 

212

 

 

38

 

Asset-backed securities

 

-

 

 

-

 

 

9,112

 

 

155

 

 

9,112

 

 

155

 

     Total temporarily impaired

$

7,543

 

 

$

41

 

 

$

455,487

 

 

$

65,582

 

 

$

463,030

 

 

$

65,623

 

 

 

December 31, 2024

 

 

Less than 12 months

 

 

More than 12 months

 

 

Total

 

(Dollars in thousands)

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

Available for Sale:

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

U.S. Treasury notes and bonds

$

-

 

$

-

 

 

$

80,502

 

 

$

9,373

 

 

$

80,502

 

 

$

9,373

 

State and municipal

 

-

 

 

-

 

 

228,236

 

 

30,579

 

 

228,236

 

 

30,579

 

Mortgage-backed

 

963

 

 

1

 

 

142,170

 

 

20,954

 

 

143,133

 

 

20,955

 

Corporate

 

-

 

 

-

 

 

212

 

 

38

 

 

212

 

 

38

 

Asset-backed securities

 

-

 

 

-

 

 

9,197

 

 

190

 

 

9,197

 

 

190

 

     Total temporarily impaired

$

963

 

$

1

 

$

460,317

 

$

61,134

 

$

461,280

 

$

61,135

 
Schedule of Held to Maturity Securities with Unrealize Losses

Held to maturity securities with unrealized losses as of March 31, 2025 and December 31, 2024, aggregated by investment category and length of time the individual securities have been in an unrealized loss position, were as follows:

 

March 31, 2025

 

 

Less than 12 months

 

 

More than 12 months

 

 

Total

 

(Dollars in thousands)

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

Held to Maturity:

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

U.S. Government and federal agency

$

-

 

$

-

 

$

2,756

 

$

224

 

$

2,756

 

$

224

 

State and municipal

 

6,100

 

 

126

 

 

164,156

 

 

28,899

 

 

170,256

 

 

29,025

 

Mortgage-backed

 

4,347

 

 

23

 

 

140,699

 

 

19,221

 

 

145,046

 

 

19,244

 

Corporate

 

-

 

 

-

 

 

16,650

 

 

1,750

 

 

16,650

 

 

1,750

 

Asset-backed securities

 

-

 

 

-

 

 

157

 

 

2

 

 

157

 

 

2

 

     Total temporarily impaired

$

10,447

 

$

149

 

$

324,418

 

$

50,096

 

$

334,865

 

$

50,245

 

 

 

December 31, 2024

 

 

Less than 12 months

 

 

More than 12 months

 

 

Total

 

(Dollars in thousands)

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

Held to Maturity:

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

U.S. Government and federal agency

$

-

 

 

$

-

 

 

$

2,699

 

 

$

279

 

 

$

2,699

 

$

279

 

State and municipal

 

5,262

 

 

 

630

 

 

 

159,558

 

 

 

30,847

 

 

 

164,820

 

 

31,477

 

Mortgage-backed

 

2,350

 

 

 

11

 

 

 

141,970

 

 

 

21,952

 

 

 

144,320

 

 

21,963

 

Corporate

 

-

 

 

 

-

 

 

 

16,591

 

 

 

1,803

 

 

 

16,591

 

 

1,803

 

Asset-backed securities

 

-

 

 

 

-

 

 

 

223

 

 

 

5

 

 

 

223

 

 

5

 

     Total temporarily impaired

$

7,612

 

$

641

 

$

321,041

 

$

54,886

 

$

328,653

 

$

55,527

 
Schedule of Maturities of Securities

Presented below is a schedule of maturities of securities as of March 31, 2025. Available for sale securities are reported at fair value and held to maturity securities are reported at amortized cost. Callable securities in the money are presumed called and matured at the callable date.

 

 

Available for Sale Securities maturing within:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value

 

 

Less than

 

 

1 Year -

 

 

5 Years -

 

 

More than

 

 

at March 31,

 

(Dollars in thousands)

1 Year

 

 

5 Years

 

 

10 Years

 

 

10 Years

 

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government and federal agency

$

993

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

993

 

U.S. Treasury notes and bonds

$

-

 

 

$

86,753

 

 

$

-

 

 

$

-

 

 

$

86,753

 

State and municipal

 

2,250

 

 

 

13,660

 

 

 

33,334

 

 

 

174,996

 

 

 

224,240

 

Corporate

 

-

 

 

 

-

 

 

 

212

 

 

 

-

 

 

 

212

 

Asset-backed securities

 

-

 

 

 

6,646

 

 

 

2,466

 

 

 

-

 

 

 

9,112

 

Total debt securities

 

3,243

 

 

 

107,059

 

 

 

36,012

 

 

 

174,996

 

 

 

321,310

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

3,179

 

 

 

79,133

 

 

 

58,288

 

 

 

18,740

 

 

 

159,340

 

Total Available for Sale

$

6,422

 

 

$

186,192

 

 

$

94,300

 

 

$

193,736

 

 

$

480,650

 

 

 

Held to Maturity Securities maturing within:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortized Cost

 

 

Less than

 

 

1 Year -

 

 

5 Years -

 

 

More than

 

 

at March 31,

 

(Dollars in thousands)

1 Year

 

 

5 Years

 

 

10 Years

 

 

10 Years

 

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government and federal agency

$

-

 

 

$

2,979

 

 

$

-

 

 

$

-

 

 

$

2,979

 

State and municipal

 

3,570

 

 

 

21,577

 

 

 

94,989

 

 

 

79,861

 

 

 

199,997

 

Corporate

 

-

 

 

 

-

 

 

 

20,503

 

 

 

-

 

 

 

20,503

 

Asset-backed securities

 

160

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

160

 

Total debt securities

 

3,730

 

 

 

24,556

 

 

 

115,492

 

 

 

79,861

 

 

 

223,639

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

5,512

 

 

 

85,893

 

 

 

79,390

 

 

 

-

 

 

 

170,795

 

Total Held to Maturity

$

9,242

 

 

$

110,449

 

 

$

194,882

 

 

$

79,861

 

 

$

394,434

 
Schedule of Unrealized Gains and Losses on Equity Securities

Following is information regarding unrealized gains and losses on equity securities for the three months ended March 31, 2025 and 2024:

 

 

 

Three Months Ended

 

 

 

 

March 31,

 

 

 

 

2025

 

 

2024

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Net gains and (losses) recognized during the period

 

$

107

 

 

$

35

 

 

 

 

Less: Net gains and (losses) recognized during the period on securities sold

 

 

—

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gains and (losses) recognized during the reporting period on securities still held at the reporting date

 

$

107

 

$

35