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AFS Securities (Tables)

12 Months Ended

Dec. 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 as of December 31:

			2024
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
U.S. Treasury			$	230,807					$	—					$	10,236					$	220,571
States and political subdivisions			81,135						9						4,576						76,568
Auction rate money market preferred			3,200						—						156						3,044
Mortgage-backed securities			29,068						—						2,182						26,886
Collateralized mortgage obligations			163,156						—						8,482						154,674
Corporate			8,150						—						864						7,286
Total			$	515,516					$	9					$	26,496					$	489,029

			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 December 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			$	29,926					$	200,881					$	—					$	—					$	—					$	230,807
States and political subdivisions			14,393						21,300						18,239						27,203						—						81,135
Auction rate money market preferred			—						—						—						—						3,200						3,200
Mortgage-backed securities			—						—						—						—						29,068						29,068
Collateralized mortgage obligations			—						—						—						—						163,156						163,156
Corporate			—						—						8,150						—						—						8,150
Total amortized cost			$	44,319					$	222,181					$	26,389					$	27,203					$	195,424					$	515,516
Fair value			$	43,882					$	211,893					$	24,305					$	24,345					$	184,604					$	489,029

Summary of the activity related to sales of available-for-sale securities

A summary of the sales activity of AFS securities during the years ended December 31 is displayed in the following table.

			2024						2023						2022
Proceeds from sales of AFS securities			$	—					$	18,089					$	—
Realized gains (losses)			—						67						—
Applicable income tax expense (benefit)			—						14						—

Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value

The information in the following tables pertains to AFS securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position at December 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			$	—					$	—					$	10,236					$	220,571					$	10,236
States and political subdivisions			486						23,553						4,090						36,796						4,576
Auction rate money market preferred			—						—						156						3,044						156
Mortgage-backed securities			—						—						2,182						26,886						2,182
Collateralized mortgage obligations			185						5,646						8,297						149,028						8,482
Corporate			—						—						864						7,286						864
Total			$	671					$	29,199					$	25,825					$	443,611					$	26,496
Number of securities in an unrealized loss position:									175												178						353

			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
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-Name Accounting Standards Codification
-Section 55
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-Section 50
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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

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