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Investment Securities and Other Investments (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Investments [Abstract]

Summary of Amortized Cost and Fair Values of Investment Securities Available for Sale

The following tables present amortized cost, fair values, and gross unrealized gains and losses of investment securities AFS as of the dates stated.


		March 31, 2025
(Dollars in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Available for sale
Mortgage backed securities		$	208,094			$	64			$	(32,850	)		$	175,308
U.S. Treasury and agencies			79,081				—				(8,465	)			70,616
State and municipal			50,073				—				(6,372	)			43,701
Corporate bonds			38,464				7				(2,695	)			35,776
Total investment securities		$	375,712			$	71			$	(50,382	)		$	325,401


		December 31, 2024
(Dollars in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Available for sale
Mortgage backed securities		$	199,453			$	—			$	(35,015	)		$	164,438
U.S. Treasury and agencies			79,430				—				(9,975	)			69,455
State and municipal			50,233				—				(7,296	)			42,937
Corporate bonds			38,453				—				(3,248	)			35,205
Total investment securities		$	367,569			$	—			$	(55,534	)		$	312,035

Summary of Investments Classified by Contractual Maturity Date

The following table presents the amortized cost and fair value of securities available for sale by contractual maturity as of the date stated. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


		March 31, 2025
(Dollars in thousands)		Amortized Cost				Fair Value
Due in one year or less		$	601			$	602
Due after one year through five years			55,279				51,887
Due after five years through ten years			113,467				100,194
Due after ten years			206,365				172,718
Total		$	375,712			$	325,401

Summary of Unrealized Losses

The following tables present fair value and gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of the dates stated.


						March 31, 2025
						Less than 12 Months								12 Months or Greater								Total
(Dollars in thousands)		Number of Securities				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Mortgage backed securities			84			$	11,008			$	(53	)		$	151,569			$	(32,797	)		$	162,577			$	(32,850	)
U.S. Treasury and agencies			29				—				—				70,615				(8,465	)			70,615				(8,465	)
State and municipal			69				1,686				(10	)			41,430				(6,362	)			43,116				(6,372	)
Corporate bonds			40				1,756				(2	)			31,434				(2,693	)			33,190				(2,695	)
Total			222			$	14,450			$	(65	)		$	295,048			$	(50,317	)		$	309,498			$	(50,382	)


						December 31, 2024
						Less than 12 Months								12 Months or Greater								Total
(Dollars in thousands)		Number of Securities				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
Mortgage backed securities			85			$	11,637			$	(107	)		$	152,802			$	(34,908	)		$	164,439			$	(35,015	)
U.S. Treasury and agencies			29				—				—				69,453				(9,975	)			69,453				(9,975	)
State and municipal			70				2,040				(42	)			40,531				(7,254	)			42,571				(7,296	)
Corporate bonds			42				3,803				(21	)			30,653				(3,227	)			34,456				(3,248	)
Total			226			$	17,480			$	(170	)		$	293,439			$	(55,364	)		$	310,919			$	(55,534	)