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Investment Securities (Tables)

9 Months Ended

Sep. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Available For Sale, Held-to-Maturity, and Restricted Equity Securities

The following table summarizes the amortized cost and estimated fair value of investment securities at September 30, 2025:

			Amortized Cost			Unrealized Gains			Unrealized Losses			Fair Value (Estimated)
Securities available for sale
U.S. Treasury & Agency securities			$	23,045,000		$	—		$	(5,163,000)		$	17,882,000
Mortgage-backed securities			250,759,000			409,000			(31,751,000)			219,417,000
State and political subdivisions			40,071,000			—			(5,909,000)			34,162,000
Asset-backed securities			2,051,000			12,000			(31,000)			2,032,000
			$	315,926,000		$	421,000		$	(42,854,000)		$	273,493,000
Securities to be held to maturity
U.S. Treasury & Agency securities			$	38,100,000		$	—		$	(8,381,000)		$	29,719,000
Mortgage-backed securities			49,444,000			96,000			(9,434,000)			40,106,000
State and political subdivisions			249,194,000			103,000			(27,445,000)			221,852,000
Corporate securities			26,000,000			54,000			(1,157,000)			24,897,000
			$	362,738,000		$	253,000		$	(46,417,000)		$	316,574,000
Less allowance for credit losses			(186,000)			—			—			—
Net securities to be held to maturity			$	362,552,000		$	253,000		$	(46,417,000)		$	316,574,000
Restricted equity securities
Federal Home Loan Bank Stock			$	5,879,000		$	—		$	—		$	5,879,000
Federal Reserve Bank Stock			1,037,000			—			—			1,037,000
			$	6,916,000		$	—		$	—		$	6,916,000

The following table summarizes the amortized cost and estimated fair value of investment securities at December 31, 2024:

			Amortized Cost			Unrealized Gains			Unrealized Losses			Fair Value (Estimated)
Securities available for sale
U.S. Treasury & Agency securities			$	26,042,000		$	—		$	(6,246,000)		$	19,796,000
Mortgage-backed securities			260,267,000			141,000			(41,026,000)			219,382,000
State and political subdivisions			40,148,000			—			(6,896,000)			33,252,000
Asset-backed securities			2,236,000			14,000			—			2,250,000
			$	328,693,000		$	155,000		$	(54,168,000)		$	274,680,000
Securities to be held to maturity
U.S. Treasury & Agency securities			$	38,100,000		$	—		$	(9,938,000)		$	28,162,000
Mortgage-backed securities			52,370,000			15,000			(11,360,000)			41,025,000
State and political subdivisions			252,180,000			83,000			(31,739,000)			220,524,000
Corporate securities			27,250,000			—			(1,968,000)			25,282,000
			$	369,900,000		$	98,000		$	(55,005,000)		$	314,993,000
Less allowance for credit losses			(196,000)			—			—			—
Net securities to be held to maturity			$	369,704,000		$	98,000		$	(55,005,000)		$	314,993,000
Restricted equity securities
Federal Home Loan Bank Stock			$	6,166,000		$	—		$	—		$	6,166,000
Federal Reserve Bank Stock			1,037,000			—			—			1,037,000
			$	7,203,000		$	—		$	—		$	7,203,000

The following table summarizes the amortized cost and estimated fair value of investment securities at September 30, 2024:

			Amortized Cost			Unrealized Gains			Unrealized Losses			Fair Value (Estimated)
Securities available for sale
U.S. Treasury & Agency securities			$	26,040,000		$	—		$	(5,305,000)		$	20,735,000
Mortgage-backed securities			259,979,000			438,000			(33,043,000)			227,374,000
State and political subdivisions			40,254,000			42,000			(5,688,000)			34,608,000
Asset-backed securities			2,285,000			19,000			—			2,304,000
			$	328,558,000		$	499,000		$	(44,036,000)		$	285,021,000
Securities to be held to maturity
U.S. Treasury & Agency securities			$	38,100,000		$	—		$	(8,371,000)		$	29,729,000
Mortgage-backed securities			53,373,000			103,000			(9,378,000)			44,098,000
State and political subdivisions			252,636,000			267,000			(24,669,000)			228,234,000
Corporate securities			33,750,000			—			(2,236,000)			31,514,000
			$	377,859,000		$	370,000		$	(44,654,000)		$	333,575,000
Less allowance for credit losses			(224,000)			—			—			—
Net securities to be held to maturity			$	377,635,000		$	370,000		$	(44,654,000)		$	333,575,000
Restricted equity securities
Federal Home Loan Bank Stock			$	5,383,000		$	—		$	—		$	5,383,000
Federal Reserve Bank Stock			1,037,000			—			—			1,037,000
			$	6,420,000		$	—		$	—		$	6,420,000

Schedule of Contractual Maturities of Investment Securities

The following table summarizes the contractual maturities of investment securities at September 30, 2025:

			Securities available for sale												Securities to be held to maturity
			Amortized Cost						Fair Value (Estimated)						Amortized Cost						Fair Value (Estimated)
Due in 1 year or less			$	11,000					$	11,000					$	1,635,000					$	1,632,000
Due in 1 to 5 years			4,637,000						4,099,000						27,355,000						26,510,000
Due in 5 to 10 years			24,741,000						22,511,000						105,095,000						100,439,000
Due after 10 years			286,537,000						246,872,000						228,653,000						187,993,000
			$	315,926,000					$	273,493,000					$	362,738,000					$	316,574,000

The following table summarizes the contractual maturities of investment securities at December 31, 2024:

			Securities available for sale												Securities to be held to maturity
			Amortized Cost						Fair Value (Estimated)						Amortized Cost						Fair Value (Estimated)
Due in 1 year or less			$	2,997,000					$	2,967,000					$	2,683,000					$	2,694,000
Due in 1 to 5 years			294,000						293,000						20,488,000						19,335,000
Due in 5 to 10 years			29,768,000						25,700,000						99,505,000						92,362,000
Due after 10 years			295,634,000						245,720,000						247,224,000						200,602,000
			$	328,693,000					$	274,680,000					$	369,900,000					$	314,993,000

The following table summarizes the contractual maturities of investment securities at September 30, 2024:

			Securities available for sale												Securities to be held to maturity
			Amortized Cost						Fair Value (Estimated)						Amortized Cost						Fair Value (Estimated)
Due in 1 year or less			$	2,995,000					$	2,949,000					$	2,342,000					$	2,371,000
Due in 1 to 5 years			403,000						402,000						20,079,000						19,573,000
Due in 5 to 10 years			28,275,000						25,251,000						103,834,000						98,349,000
Due after 10 years			296,885,000						256,419,000						251,604,000						213,282,000
			$	328,558,000					$	285,021,000					$	377,859,000					$	333,575,000

Schedule of Temporary Impairment Losses

The following table summarizes AFS debt securities in an unrealized loss position for which an ACL has not been recorded at September 30, 2025, aggregated by major security type and length of time in a continuous unrealized loss position:

			Less than 12 months						12 months or more						Total
			Fair Value (Estimated)			Unrealized Losses			Fair Value (Estimated)			Unrealized Losses			Fair Value (Estimated)			Unrealized Losses
U.S. Treasury & Agency securities			$	—		$	—		$	17,882,000		$	(5,163,000)		$	17,882,000		$	(5,163,000)
Mortgage-backed securities			1,776,000			(10,000)			183,340,000			(31,741,000)			185,116,000			(31,751,000)
State and political subdivisions			2,276,000			(23,000)			31,706,000			(5,886,000)			33,982,000			(5,909,000)
Asset-backed securities			1,109,000			(31,000)			—			—			1,109,000			(31,000)
			$	5,161,000		$	(64,000)		$	232,928,000		$	(42,790,000)		$	238,089,000		$	(42,854,000)

The following table summarizes AFS debt securities in an unrealized loss position for which an ACL has not been recorded at December 31, 2024 aggregated by major security type and length of time in a continuous unrealized loss position:

			Less than 12 months						12 months or more						Total
			Fair Value (Estimated)			Unrealized Losses			Fair Value (Estimated)			Unrealized Losses			Fair Value (Estimated)			Unrealized Losses
U.S. Treasury & Agency securities			$	—		$	—		$	19,796,000		$	(6,246,000)		$	19,796,000		$	(6,246,000)
Mortgage-backed securities			18,544,000			(222,000)			186,155,000			(40,804,000)			204,699,000			(41,026,000)
State and political subdivisions			4,968,000			(70,000)			28,104,000			(6,826,000)			33,072,000			(6,896,000)
			$	23,512,000		$	(292,000)		$	234,055,000		$	(53,876,000)		$	257,567,000		$	(54,168,000)

The following table summarizes AFS debt securities in an unrealized loss position for which an ACL has not been recorded at September 30, 2024 aggregated by major security type and length of time in a continuous unrealized loss position:

			Less than 12 months						12 months or more						Total
			Fair Value (Estimated)			Unrealized Losses			Fair Value (Estimated)			Unrealized Losses			Fair Value (Estimated)			Unrealized Losses
U.S. Treasury & Agency securities			$	—		$	—		$	20,735,000		$	(5,305,000)		$	20,735,000		$	(5,305,000)
Mortgage-backed securities			4,762,000			(43,000)			199,001,000			(33,000,000)			203,763,000			(33,043,000)
State and political subdivisions			—			—			29,256,000			(5,688,000)			29,256,000			(5,688,000)
			$	4,762,000		$	(43,000)		$	248,992,000		$	(43,993,000)		$	253,754,000		$	(44,036,000)

Schedule of Activity in the ACL for Held-to-maturity Debt Securities

The following tables present the activity in the ACL for HTM debt securities by major security type for the nine months and quarters ended September 30, 2025 and 2024:

			For the nine months ended
			September 30, 2025									September 30, 2024
			State and Political Subdivisions			Corporate Securities			Total			State and Political Subdivisions			Corporate Securities			Total
Allowance for credit losses:
Beginning balance			$	80,000		$	116,000		$	196,000		$	212,000		$	222,000		$	434,000
Credit loss (reduction) expense			(3,000)			(7,000)			(10,000)			(126,000)			(84,000)			(210,000)
Securities charged-off			—			—			—			—			—			—
Recoveries			—			—			—			—			—			—
Total ending allowance balance			$	77,000		$	109,000		$	186,000		$	86,000		$	138,000		$	224,000

			For the three months ended
			September 30, 2025									September 30, 2024
			State and Political Subdivisions			Corporate Securities			Total			State and Political Subdivisions			Corporate Securities			Total
Allowance for credit losses:
Beginning balance			$	79,000		$	119,000		$	198,000		$	56,000		$	93,000		$	149,000
Credit loss (reduction) expense1			(2,000)			(10,000)			(12,000)			30,000			45,000			75,000
Securities charged-off			—			—			—			—			—			—
Recoveries			—			—			—			—			—			—
Total ending allowance balance			$	77,000		$	109,000		$	186,000		$	86,000		$	138,000		$	224,000

1September 30, 2024 total of $75,000 will not tie to Consolidated Statement of Income Credit loss reduction - debt securities HTM due to rounding.

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Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

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