Investment Securities (Tables)

9 Months Ended

Sep. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost and Estimated Fair Value of Securities Available-for-Sale and Held-to-Maturity

The amortized cost and estimated fair value of securities available-for-sale and held-to-maturity along with gross unrealized gains and losses are summarized as follows:


(dollars in thousands)
September 30, 2025	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Available-for-Sale:
U.S. treasury securities	$	766	$	—	$	(3)	$	763
U.S. agency securities	2,265		—		(120)		2,145
Asset backed securities	15,033		18		(206)		14,845
State, county & municipal securities	109,984		9		(12,348)		97,645
Corporate debt securities	49,816		19		(3,986)		45,849
Mortgage-backed securities	158,446		419		(14,853)		144,012
Total	$	336,310	$	465	$	(31,516)	$	305,259

September 30, 2025	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Held-to-Maturity:
U.S. treasury securities	$	65,126	$	—	$	(1,244)	$	63,882
U.S. agency securities	9,048		—		(736)		8,312
State, county & municipal securities	137,491		44		(13,257)		124,278
Mortgage-backed securities	177,470		—		(20,324)		157,146
Total	$	389,135	$	44	$	(35,561)	$	353,618

December 31, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Available-for-Sale:
U.S. treasury securities	$	3,173	$	—	$	—	$	3,173
U.S. agency securities	3,001		—		(246)		2,755
Asset backed securities	17,925		17		(118)		17,824
State, county & municipal securities	110,952		—		(15,315)		95,637
Corporate debt securities	53,324		1		(5,543)		47,782
Mortgage-backed securities	221,005		207		(22,334)		198,878
Total	$	409,380	$	225	$	(43,556)	$	366,049

December 31, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities Held-to-Maturity:
U.S. treasury securities	$	91,004	$	—	$	(2,828)	$	88,176
U.S. agency securities	16,151		—		(1,263)		14,888
State, county & municipal securities	137,190		—		(15,915)		121,275
Mortgage-backed securities	185,732		—		(27,051)		158,681
Total	$	430,077	$	—	$	(47,057)	$	383,020

Schedule of Mortgage-Backed Securities

This is often the case with mortgage-backed securities, which are disclosed separately in the table below.


	Available-for-Sale				Held-to-Maturity
(dollars in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	8,916	$	8,720	$	11,852	$	11,818
Due after one year through five years	19,955		18,929		64,591		62,988
Due after five years through ten years	91,156		81,239		72,713		66,861
Due after ten years	57,837		52,359		62,509		54,805
	$	177,864	$	161,247	$	211,665	$	196,472

Mortgage-backed securities	158,446		144,012		177,470		157,146
	$	336,310	$	305,259	$	389,135	$	353,618

Schedule Of Securities In A Continuous Loss Position

Information pertaining to available-for-sale securities with gross unrealized losses at September 30, 2025 and December 31, 2024 aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows:


	Less Than 12 Months				12 Months or Greater				Total
(dollars in thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
September 30, 2025
U.S. treasury securities	$	763	$	(3)	$	—	$	—	$	763	$	(3)
U.S. agency securities	—		—		2,145		(120)		2,145		(120)
Asset backed securities	3,988		(19)		7,507		(187)		11,495		(206)
State, county & municipal securities	41,235		(5,060)		55,612		(7,288)		96,847		(12,348)
Corporate debt securities	—		—		39,829		(3,986)		39,829		(3,986)
Mortgage-backed securities	—		—		127,803		(14,853)		127,803		(14,853)
	$	45,986	$	(5,082)	$	232,896	$	(26,434)	$	278,882	$	(31,516)

December 31, 2024

U.S. agency securities	—		—		2,755		(246)		2,755		(246)
Asset backed securities	3,715		(8)		8,269		(110)		11,984		(118)
State, county & municipal securities	2,829		(294)		92,808		(15,021)		95,637		(15,315)
Corporate debt securities	4,434		(720)		42,847		(4,823)		47,281		(5,543)
Mortgage-backed securities	21,278		(430)		160,343		(21,904)		181,621		(22,334)
	$	32,256	$	(1,452)	$	307,022	$	(42,104)	$	339,278	$	(43,556)

Information pertaining to held-to-maturity securities with gross unrealized losses at September 30, 2025 and December 31, 2024 aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows:


	Less Than 12 Months				12 Months or Greater				Total
(dollars in thousands)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
September 30, 2025
U.S. treasury securities	$	—	$	—	$	63,882	$	(1,244)	$	63,882	$	(1,244)
U.S. agency securities	—		—		8,312		(736)		8,312		(736)
State, county & municipal securities	41,408		(5,133)		77,889		(8,124)		119,297		(13,257)

Mortgage-backed securities	—		—		157,146		(20,324)		157,146		(20,324)
	$	41,408	$	(5,133)	$	307,229	$	(30,428)	$	348,637	$	(35,561)

December 31, 2024
U.S. treasury securities	$	—	$	—	$	88,176	$	(2,828)	$	88,176	$	(2,828)
U.S. agency securities	—		—		14,888		(1,263)		14,888		(1,263)
State, county & municipal securities	18,751		(374)		102,524		(15,541)		121,275		(15,915)
Mortgage-backed securities	—		—		158,681		(27,051)		158,681		(27,051)
	$	18,751	$	(374)	$	364,269	$	(46,683)	$	383,020	$	(47,057)