XML 38 R28.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

AFS Securities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Amortized cost and fair value of available-for-sale securities | The amortized cost and fair value of AFS securities, with gross unrealized gains and losses, are as follows at:
| March 31, 2024
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. Treasury | $ | 231,114 |  |  | $ | — |  |  | $ | 16,888 |  |  | $ | 214,226 |
States and political subdivisions | 93,569 |  |  | 805 |  |  | 3,904 |  |  | 90,470 |
Auction rate money market preferred | 3,200 |  |  | — |  |  | 187 |  |  | 3,013 |
Mortgage-backed securities | 33,762 |  |  | — |  |  | 2,718 |  |  | 31,044 |
Collateralized mortgage obligations | 182,542 |  |  | — |  |  | 10,711 |  |  | 171,831 |
Corporate | 8,150 |  |  | — |  |  | 1,149 |  |  | 7,001 |
Total | $ | 552,337 |  |  | $ | 805 |  |  | $ | 35,557 |  |  | $ | 517,585 |
| December 31, 2023
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
U.S. Treasury | $ | 231,218 |  |  | $ | — |  |  | $ | 16,417 |  |  | $ | 214,801 |
States and political subdivisions | 94,837 |  |  | 1,032 |  |  | 2,993 |  |  | 92,876 |
Auction rate money market preferred | 3,200 |  |  | — |  |  | 269 |  |  | 2,931 |
Mortgage-backed securities | 35,321 |  |  | — |  |  | 2,506 |  |  | 32,815 |
Collateralized mortgage obligations | 187,248 |  |  | — |  |  | 9,473 |  |  | 177,775 |
Corporate | 8,150 |  |  | — |  |  | 1,200 |  |  | 6,950 |
Total | $ | 559,974 |  |  | $ | 1,032 |  |  | $ | 32,858 |  |  | $ | 528,148 |
Amortized cost and fair value of available-for-sale securities by contractual maturity | The amortized cost and fair value of AFS securities by contractual maturity at March 31, 2024 are as follows:
| Maturing |  | Securities with Variable Monthly Payments or Noncontractual Maturities |  |
| Due in One Year or Less |  | After One Year But Within Five Years |  | After Five Years But Within Ten Years |  | After Ten Years |  |  | Total
U.S. Treasury | $ | 9,990 |  |  | $ | 221,124 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 231,114 |
States and political subdivisions | 15,105 |  |  | 27,636 |  |  | 19,913 |  |  | 30,915 |  |  | — |  |  | 93,569 |
Auction rate money market preferred | — |  |  | — |  |  | — |  |  | — |  |  | 3,200 |  |  | 3,200 |
Mortgage-backed securities | — |  |  | — |  |  | — |  |  | — |  |  | 33,762 |  |  | 33,762 |
Collateralized mortgage obligations | — |  |  | — |  |  | — |  |  | — |  |  | 182,542 |  |  | 182,542 |
Corporate | — |  |  | — |  |  | 8,150 |  |  | — |  |  | — |  |  | 8,150 |
Total amortized cost | $ | 25,095 |  |  | $ | 248,760 |  |  | $ | 28,063 |  |  | $ | 30,915 |  |  | $ | 219,504 |  |  | $ | 552,337 |
Fair value | $ | 25,158 |  |  | $ | 232,115 |  |  | $ | 26,197 |  |  | $ | 28,227 |  |  | $ | 205,888 |  |  | $ | 517,585 |
Schedule of Realized Gain (Loss) [Table Text Block] | A summary of the sales activity of AFS securities is as follows for the:
|  |  | Three Months Ended March 31
|  |  |  |  | 2024 |  | 2023
Proceeds from sales of AFS securities |  |  |  |  | $ | — |  |  | $ | 4,145 |
Realized gains (losses) |  |  |  |  | $ | — |  |  | $ | 1 |
Applicable income tax expense (benefit) |  |  |  |  | $ | — |  |  | $ | — |
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value | The information in the following tables pertains to AFS securities with gross unrealized losses at March 31, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous loss position.
| March 31, 2024
| Less Than Twelve Months |  | Twelve Months or More |  |
| Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Total Unrealized Losses
U.S. Treasury | $ | — |  |  | $ | — |  |  | $ | 16,888 |  |  | $ | 214,226 |  |  | $ | 16,888 |
States and political subdivisions | 86 |  |  | 14,347 |  |  | 3,818 |  |  | 41,225 |  |  | 3,904 |
Auction rate money market preferred | — |  |  | — |  |  | 187 |  |  | 3,013 |  |  | 187 |
Mortgage-backed securities | 1 |  |  | 3 |  |  | 2,717 |  |  | 31,041 |  |  | 2,718 |
Collateralized mortgage obligations | — |  |  | — |  |  | 10,711 |  |  | 171,831 |  |  | 10,711 |
Corporate | — |  |  | — |  |  | 1,149 |  |  | 7,001 |  |  | 1,149 |
Total | $ | 87 |  |  | $ | 14,350 |  |  | $ | 35,470 |  |  | $ | 468,337 |  |  | $ | 35,557 |
Number of securities in an unrealized loss position: |  |  | 40 |  |  |  |  | 218 |  |  | 258 |
| December 31, 2023
| Less Than Twelve Months |  | Twelve Months or More |  |
| Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Total Unrealized Losses
U.S. Treasury | $ | — |  |  | $ | — |  |  | $ | 16,417 |  |  | $ | 214,801 |  |  | $ | 16,417 |
States and political subdivisions | 42 |  |  | 7,172 |  |  | 2,951 |  |  | 37,011 |  |  | 2,993 |
Auction rate money market preferred | — |  |  | — |  |  | 269 |  |  | 2,931 |  |  | 269 |
Mortgage-backed securities | 1 |  |  | 10 |  |  | 2,505 |  |  | 32,805 |  |  | 2,506 |
Collateralized mortgage obligations | 116 |  |  | 4,554 |  |  | 9,357 |  |  | 173,221 |  |  | 9,473 |
Corporate | — |  |  | — |  |  | 1,200 |  |  | 6,950 |  |  | 1,200 |
Total | $ | 159 |  |  | $ | 11,736 |  |  | $ | 32,699 |  |  | $ | 467,719 |  |  | $ | 32,858 |
Number of securities in an unrealized loss position: |  |  | 22 |  |  |  |  | 186 |  |  | 208 |

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479081/326-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-6 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479106/326-30-50-4 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
Name: | us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-9 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration