AFS Securities (Tables)

9 Months Ended

Sep. 30, 2025

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:


	September 30, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Treasury	$	210,462	$	—	$	4,421	$	206,041
States and political subdivisions	74,042		26		2,966		71,102
Auction rate money market preferred	3,200		—		410		2,790
Mortgage-backed securities	24,696		—		1,299		23,397
Collateralized mortgage obligations	203,984		1,081		3,852		201,213
Corporate	8,150		—		723		7,427
Total	$	524,534	$	1,107	$	13,671	$	511,970


	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

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 September 30, 2025 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	$	160,417	$	50,045	$	—	$	—	$	—	$	210,462
States and political subdivisions	12,796		18,459		20,048		22,739		—		74,042
Auction rate money market preferred	—		—		—		—		3,200		3,200
Mortgage-backed securities	—		—		—		—		24,696		24,696
Collateralized mortgage obligations	—		—		—		—		203,984		203,984
Corporate	—		—		8,150		—		—		8,150
Total amortized cost	$	173,213	$	68,504	$	28,198	$	22,739	$	231,880	$	524,534
Fair value	$	170,246	$	66,903	$	26,153	$	21,268	$	227,400	$	511,970

Schedule of Available-for-Sale Securities with Gross Unrealized Losses

The information in the following tables pertains to AFS 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 for which an allowance for credit losses has not been recorded.


	September 30, 2025
	Less Than Twelve Months				Twelve Months or More
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
U.S. Treasury	$	—	$	—	$	4,421	$	206,041	$	4,421
States and political subdivisions	449		6,642		2,517		31,820		2,966
Auction rate money market preferred	—		—		410		2,790		410
Mortgage-backed securities	—		—		1,299		23,397		1,299
Collateralized mortgage obligations	59		8,991		3,793		125,753		3,852
Corporate	60		1,640		663		5,787		723
Total	$	568	$	17,273	$	13,103	$	395,588	$	13,671
Number of securities in an unrealized loss position:			39				144		183


	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