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INVESTMENT SECURITIES (Tables)
6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investment Securities Classified as Available for Sale
Investment securities available for sale at June 30, 2025 and December 31, 2024 were as follows:
June 30, 2025
(dollars in thousands)Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Fair
value
Investment securities available for sale
U.S. government sponsored entities and U.S. agency securities
$26,227 $27 $(1,190)$25,064 
Mortgage-backed securities - agency (1)
1,074,154 504 (85,058)989,600 
Mortgage-backed securities - non-agency94,781 1,424 (2,933)93,272 
Asset-backed student loans45,409 14 (346)45,077 
State and municipal securities75,726 81 (5,990)69,817 
Collateralized loan obligations48,036 77 (63)48,050 
Corporate securities84,758 38 (5,319)79,477 
Total available for sale securities$1,449,091 $2,165 $(100,899)$1,350,357 
(1)The amount of fair value hedging adjustment included in the amortized cost amount of the hedged investment securities available-for-sale as of June 30, 2025 was $(3.0) million. See Note 7 - Derivative Instruments for additional information regarding these derivative financial instruments.

December 31, 2024
(dollars in thousands)Amortized
cost
Gross
unrealized
gains
Gross
unrealized
losses
Fair
value
Investment securities available for sale
U.S. government sponsored entities and U.S. agency securities$21,655 $25 $(1,539)$20,141 
Mortgage-backed securities - agency (1)
938,513 3,411 (94,868)847,056 
Mortgage-backed securities - non-agency103,051 1,410 (3,449)101,012 
Asset-backed student loans50,007 66 (100)49,973 
State and municipal securities75,597 96 (6,632)69,061 
Collateralized loan obligations40,365 92 (7)40,450 
Corporate securities85,602 42 (5,763)79,881 
Total available for sale securities$1,314,790 $5,142 $(112,358)$1,207,574 
(1)The amount of fair value hedging adjustment included in the amortized cost amount of the hedged investment securities available-for-sale as of December 31, 2024 was $1.9 million. See Note 7 - Derivative Instruments for additional information regarding these derivative financial instruments.
Schedule of Debt Securities, Available-for-sale
The table below shows the amortized cost and fair value of the investment securities portfolio by contractual maturity for all securities other than mortgage-backed securities, at June 30, 2025. Expected maturities may differ from contractual maturities if borrowers 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.
(dollars in thousands)Amortized
cost
Fair
value
Investment securities available for sale
Within one year$4,471 $4,386 
After one year through five years60,845 57,791 
After five years through ten years109,589 102,078 
After ten years105,251 103,230 
Mortgage-backed securities1,168,935 1,082,872 
Total available for sale securities$1,449,091 $1,350,357 
    
Proceeds and gross realized gains and losses on sales of investment securities available for sale for the three and six months ended June 30, 2025 and 2024 are summarized as follows:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2025202420252024
Investment securities available for sale
Proceeds from sales$— $45,825 $— $45,825 
Gross realized gains on sales— 307 — 307 
Gross realized losses on sales— (459)— (459)
Schedule of Unrealized Losses and Fair Values for Investment Securities
Unrealized losses and fair values for investment securities available for sale as of June 30, 2025 and December 31, 2024, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are summarized as follows:
June 30, 2025
Less than 12 Months12 Months or moreTotal
(dollars in thousands)Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
Investment securities available for sale
U.S. government sponsored entities and U.S. agency securities$9,960 $26 $8,836 $1,164 $18,796 $1,190 
Mortgage-backed securities - agency297,137 7,212 413,979 77,846 711,116 85,058 
Mortgage-backed securities - non-agency5,508 15 23,217 2,918 28,725 2,933 
Asset-backed student loans21,241 137 16,963 209 38,204 346 
State and municipal securities19,019 316 45,179 5,674 64,198 5,990 
Collateralized loan obligations10,444 52 2,367 11 12,811 63 
Corporate securities3,248 70,455 5,317 73,703 5,319 
Total available for sale securities$366,557 $7,760 $580,996 $93,139 $947,553 $100,899 
December 31, 2024
Less than 12 Months12 Months or moreTotal
(dollars in thousands)Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
Fair
value
Unrealized
loss
Investment securities available for sale
U.S. government sponsored entities and U.S. agency securities$4,973 $27 $8,488 $1,512 $13,461 $1,539 
Mortgage-backed securities - agency300,427 9,735 385,332 85,133 685,759 94,868 
Mortgage-backed securities - non-agency12,433 33 24,153 3,416 36,586 3,449 
Asset-backed student loans17,734 99 2,130 19,864 100 
State and municipal securities21,209 365 43,131 6,267 64,340 6,632 
Collateralized loan obligations7,468 — — 7,468 
Corporate securities23,833 1,910 52,271 3,853 76,104 5,763 
Total available for sale securities$388,077 $12,176 $515,505 $100,182 $903,582 $112,358