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Securities (Tables)
9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Debt Securities Available for Sale
The amortized cost and estimated fair value of securities AFS and securities HTM are summarized in the following tables:
September 30, 2024
(in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Securities AFS:
Mortgage-backed securities$315,569 $1,438 $(22,431)$294,576 
Municipal bonds203,626 (27,089)176,545 
U.S. Treasury securities29,994 — (258)29,736 
U.S. agency securities60,819 103 (1,224)59,698 
Total Securities AFS$610,008 $1,549 $(51,002)$560,555 
Securities HTM:
Mortgage-backed securities$133,216 $— $(17,211)$116,005 
U.S. agency securities929 — (75)854 
Total Securities HTM$134,145 $— $(17,286)$116,859 
December 31, 2023
(in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Securities AFS:
Mortgage-backed securities$288,793 $395 $(31,228)$257,960 
Municipal bonds211,848 13 (27,732)184,129 
U.S. Treasury securities92,054 — (1,912)90,142 
U.S. agency securities39,563 (1,707)37,861 
Total Securities AFS$632,258 $413 $(62,579)$570,092 
Securities HTM:
Mortgage-backed securities$140,314 $— $(22,098)$118,216 
U.S. agency securities922 — (109)813 
Total Securities HTM$141,236 $— $(22,207)$119,029 
Schedule of Debt Securities Held-to-Maturity
The amortized cost and estimated fair value of securities AFS and securities HTM are summarized in the following tables:
September 30, 2024
(in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Securities AFS:
Mortgage-backed securities$315,569 $1,438 $(22,431)$294,576 
Municipal bonds203,626 (27,089)176,545 
U.S. Treasury securities29,994 — (258)29,736 
U.S. agency securities60,819 103 (1,224)59,698 
Total Securities AFS$610,008 $1,549 $(51,002)$560,555 
Securities HTM:
Mortgage-backed securities$133,216 $— $(17,211)$116,005 
U.S. agency securities929 — (75)854 
Total Securities HTM$134,145 $— $(17,286)$116,859 
December 31, 2023
(in thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Securities AFS:
Mortgage-backed securities$288,793 $395 $(31,228)$257,960 
Municipal bonds211,848 13 (27,732)184,129 
U.S. Treasury securities92,054 — (1,912)90,142 
U.S. agency securities39,563 (1,707)37,861 
Total Securities AFS$632,258 $413 $(62,579)$570,092 
Securities HTM:
Mortgage-backed securities$140,314 $— $(22,098)$118,216 
U.S. agency securities922 — (109)813 
Total Securities HTM$141,236 $— $(22,207)$119,029 
Schedule of Maturities of Securities Available for Sale
The amortized cost and estimated fair value of securities AFS and securities HTM as of September 30, 2024, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because issuers have the right to call or repay obligations with or without call or prepayment penalties.
September 30, 2024
(in thousands)Amortized
Cost
Fair
Value
Securities AFS:
Within one year$37,206 $36,858 
After one year but within five years25,613 25,207 
After five years but within ten years123,252 117,247 
After ten years423,937 381,243 
Total Securities AFS$610,008 $560,555 
Securities HTM:
Within one year$— $— 
After one year but within five years— — 
After five years but within ten years929 854 
After ten years133,216 116,005 
Total Securities HTM$134,145 $116,859 
Schedule of Debt Securities Available for Sale in Unrealized Loss Position
Information pertaining to securities AFS with gross unrealized losses as of September 30, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is described as follows:
September 30, 2024
Less than twelve monthsTwelve months or more
(in thousands)Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Securities AFS:
Mortgage-backed securities$(26)$12,404 $(22,405)$192,372 
Municipal bonds(46)1,406 (27,043)173,314 
U.S. Treasury securities— — (258)29,736 
U.S. agency securities(11)10,417 (1,213)18,992 
Total Securities AFS$(83)$24,227 $(50,919)$414,414 
December 31, 2023
Less than twelve monthsTwelve months or more
(in thousands)Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Securities AFS:
Mortgage-backed securities$(35)$19,383 $(31,193)$206,518 
Municipal bonds(83)4,815 (27,649)176,098 
U.S. Treasury securities— — (1,912)90,142 
U.S. agency securities(82)19,301 (1,625)14,475 
Total Securities AFS$(200)$43,499 $(62,379)$487,233 
Schedule of Debt Securities Held-to-Maturity in Unrealized Loss Position
Information pertaining to securities AFS with gross unrealized losses as of September 30, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is described as follows:
September 30, 2024
Less than twelve monthsTwelve months or more
(in thousands)Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Securities AFS:
Mortgage-backed securities$(26)$12,404 $(22,405)$192,372 
Municipal bonds(46)1,406 (27,043)173,314 
U.S. Treasury securities— — (258)29,736 
U.S. agency securities(11)10,417 (1,213)18,992 
Total Securities AFS$(83)$24,227 $(50,919)$414,414 
December 31, 2023
Less than twelve monthsTwelve months or more
(in thousands)Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Securities AFS:
Mortgage-backed securities$(35)$19,383 $(31,193)$206,518 
Municipal bonds(83)4,815 (27,649)176,098 
U.S. Treasury securities— — (1,912)90,142 
U.S. agency securities(82)19,301 (1,625)14,475 
Total Securities AFS$(200)$43,499 $(62,379)$487,233