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Securities (Tables) | 12 Months Ended
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Dec. 31, 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:
| December 31, 2024
(in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Securities AFS: |  |  |  |  |  |  |
Mortgage-backed securities | $ | 334,123 |  |  | $ | 539 |  |  | $ | (27,562) |  |  | $ | 307,100 |
Municipal bonds | 203,394 |  |  | — |  |  | (34,551) |  |  | 168,843 |
U.S. Treasury securities | 10,995 |  |  | — |  |  | (63) |  |  | 10,932 |
U.S. agency securities | 64,881 |  |  | 18 |  |  | (1,626) |  |  | 63,273 |
Total Securities AFS | $ | 613,393 |  |  | $ | 557 |  |  | $ | (63,802) |  |  | $ | 550,148 |
Securities HTM: |  |  |  |  |  |  |
Mortgage-backed securities | $ | 130,864 |  |  | $ | — |  |  | $ | (22,698) |  |  | $ | 108,166 |
U.S. agency securities | 932 |  |  | — |  |  | (108) |  |  | 824 |
Total Securities HTM | $ | 131,796 |  |  | $ | — |  |  | $ | (22,806) |  |  | $ | 108,990 |
| 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 bonds | 211,848 |  |  | 13 |  |  | (27,732) |  |  | 184,129 |
U.S. Treasury securities | 92,054 |  |  | — |  |  | (1,912) |  |  | 90,142 |
U.S. agency securities | 39,563 |  |  | 5 |  |  | (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 securities | 922 |  |  | — |  |  | (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:
| December 31, 2024
(in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Securities AFS: |  |  |  |  |  |  |
Mortgage-backed securities | $ | 334,123 |  |  | $ | 539 |  |  | $ | (27,562) |  |  | $ | 307,100 |
Municipal bonds | 203,394 |  |  | — |  |  | (34,551) |  |  | 168,843 |
U.S. Treasury securities | 10,995 |  |  | — |  |  | (63) |  |  | 10,932 |
U.S. agency securities | 64,881 |  |  | 18 |  |  | (1,626) |  |  | 63,273 |
Total Securities AFS | $ | 613,393 |  |  | $ | 557 |  |  | $ | (63,802) |  |  | $ | 550,148 |
Securities HTM: |  |  |  |  |  |  |
Mortgage-backed securities | $ | 130,864 |  |  | $ | — |  |  | $ | (22,698) |  |  | $ | 108,166 |
U.S. agency securities | 932 |  |  | — |  |  | (108) |  |  | 824 |
Total Securities HTM | $ | 131,796 |  |  | $ | — |  |  | $ | (22,806) |  |  | $ | 108,990 |
| 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 bonds | 211,848 |  |  | 13 |  |  | (27,732) |  |  | 184,129 |
U.S. Treasury securities | 92,054 |  |  | — |  |  | (1,912) |  |  | 90,142 |
U.S. agency securities | 39,563 |  |  | 5 |  |  | (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 securities | 922 |  |  | — |  |  | (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 December 31, 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.
| December 31, 2024
(in thousands) | Amortized Cost |  | Fair Value
Securities AFS: |  |  |
Within one year | $ | 17,974 |  |  | $ | 17,845 |
After one year but within five years | 25,071 |  |  | 24,278 |
After five years but within ten years | 126,667 |  |  | 118,100 |
After ten years | 443,681 |  |  | 389,925 |
Total Securities AFS | $ | 613,393 |  |  | $ | 550,148 |
Securities HTM: |  |  |
Within one year | $ | — |  |  | $ | — |
After one year but within five years | — |  |  | — |
After five years but within ten years | 932 |  |  | 824 |
After ten years | 130,864 |  |  | 108,166 |
Total Securities HTM | $ | 131,796 |  |  | $ | 108,990 |
Schedule of Debt Securities Available for Sale in Unrealized Loss Position | Information pertaining to securities AFS with gross unrealized losses as of December 31, 2024 and 2023, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is described as follows:
| December 31, 2024
| Less than twelve months |  | Twelve months or more
(in thousands) | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value
Securities AFS: |  |  |  |  |  |  |
Mortgage-backed securities | $ | (642) |  |  | $ | 66,986 |  |  | $ | (26,920) |  |  | $ | 179,644 |
Municipal bonds | (136) |  |  | 2,863 |  |  | (34,415) |  |  | 165,980 |
U.S. Treasury securities | — |  |  | — |  |  | (63) |  |  | 10,932 |
U.S. agency securities | (82) |  |  | 27,329 |  |  | (1,544) |  |  | 19,801 |
Total Securities AFS | $ | (860) |  |  | $ | 97,178 |  |  | $ | (62,942) |  |  | $ | 376,357 |
| December 31, 2023
| Less than twelve months |  | Twelve months or more
| 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 December 31, 2024 and 2023, aggregated by investment category and length of time that individual securities have been in a continuous loss position, is described as follows:
| December 31, 2024
| Less than twelve months |  | Twelve months or more
(in thousands) | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value
Securities AFS: |  |  |  |  |  |  |
Mortgage-backed securities | $ | (642) |  |  | $ | 66,986 |  |  | $ | (26,920) |  |  | $ | 179,644 |
Municipal bonds | (136) |  |  | 2,863 |  |  | (34,415) |  |  | 165,980 |
U.S. Treasury securities | — |  |  | — |  |  | (63) |  |  | 10,932 |
U.S. agency securities | (82) |  |  | 27,329 |  |  | (1,544) |  |  | 19,801 |
Total Securities AFS | $ | (860) |  |  | $ | 97,178 |  |  | $ | (62,942) |  |  | $ | 376,357 |
| December 31, 2023
| Less than twelve months |  | Twelve months or more
| 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 Realized Gain (Loss) | The proceeds from sales of debt securities and their gross gain (loss) for the years ended December 31, 2024, 2023, and 2022, are shown below:
| Years Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Proceeds (1) | $ | — |  |  | $ | — |  |  | $ | 41,234 |
Gross gain | — |  |  | — |  |  | 64 |
Gross loss | — |  |  | — |  |  | (123) |
(1)The proceeds include the gross gain and loss.

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