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AFS Securities (Tables)

12 Months Ended

Dec. 31, 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 as of December 31:

			2025
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
U.S. Treasury			$	200,327					$	—					$	2,793					$	197,534
States and political subdivisions			71,857						45						2,697						69,205
Auction rate money market preferred			3,200						—						787						2,413
Mortgage-backed securities			23,373						—						1,121						22,252
Collateralized mortgage obligations			202,482						1,149						3,165						200,466
Corporate			6,450						—						529						5,921
Total			$	507,689					$	1,194					$	11,092					$	497,791

			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 December 31, 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			$	190,389					$	9,938					$	—					$	—					$	—					$	200,327
States and political subdivisions			12,942						17,400						19,997						21,518						—						71,857
Auction rate money market preferred			—						—						—						—						3,200						3,200
Mortgage-backed securities			—						—						—						—						23,373						23,373
Collateralized mortgage obligations			—						—						—						—						202,482						202,482
Corporate			—						—						6,450						—						—						6,450
Total amortized cost			$	203,331					$	27,338					$	26,447					$	21,518					$	229,055					$	507,689
Fair value			$	200,813					$	26,931					$	24,735					$	20,181					$	225,131					$	497,791

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.

			2025						2024						2023
Proceeds from sales of AFS securities			$	—					$	—					$	18,089
Realized gains (losses)			—						—						67
Applicable income tax expense (benefit)			—						—						14

Summary of AFS Securities with Gross Unrealized Losses

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:

			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			$	—					$	—					$	2,793					$	197,534					$	2,793
States and political subdivisions			993						13,446						1,704						24,823						2,697
Auction rate money market preferred			—						—						787						2,413						787
Mortgage-backed securities			—						—						1,121						22,252						1,121
Collateralized mortgage obligations			39						9,042						3,126						120,016						3,165
Corporate			—						—						529						5,921						529
Total			$	1,032					$	22,488					$	10,060					$	372,959					$	11,092
Number of securities in an unrealized loss position:									38												138						176

			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

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- 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.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
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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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