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SECURITIES (Tables)
6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Estimated Fair Value of Securities Available for Sale
The following tables present amortized cost and estimated fair value of securities available for sale as of June 30, 2024 and December 31, 2023 (in thousands):
 June 30, 2024
 Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesEstimated Fair Value
U.S. Treasury notes and bonds$59,845 $— $4,371 $— $55,474 
Mortgage-backed securities, residential456,788 77,046 — 379,749 
Obligations of states and political subdivisions38,063 — 2,283 — 35,780 
Corporate bonds and notes25,750 — 4,342 — 21,408 
SBA loan pools60,874 61 2,419 — 58,516 
Total$641,320 $68 $90,461 $— $550,927 
 December 31, 2023
 Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesEstimated Fair Value
U.S. Treasury notes and bonds$59,812 $— $4,480 $— $55,332 
Mortgage-backed securities, residential476,240 72,422 — 403,824 
Obligations of states and political subdivisions39,503 — 817 — 38,686 
Corporate bonds and notes25,750 — 5,081 — 20,669 
SBA loan pools67,787 75 2,380 — 65,482 
Total$669,092 $81 $85,180 $— $583,993 
Schedule of Amortized Cost and Estimated Fair Value of Securities Held to Maturity
The following tables present amortized cost and estimated fair value of securities held to maturity as of June 30, 2024 and December 31, 2023 (in thousands):
 June 30, 2024
 Amortized CostUnrecognized GainsUnrecognized LossesEstimated Fair ValueAllowance for Credit Losses
Obligations of states and political subdivisions$657 $— $— $657 $— 

 December 31, 2023
 Amortized CostUnrecognized GainsUnrecognized LossesEstimated Fair ValueAllowance for Credit Losses
Obligations of states and political subdivisions$785 $— $— $785 $— 
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity
The amortized cost and estimated fair value of debt securities are shown below by expected maturity (in thousands). Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
June 30, 2024
Available for SaleHeld to Maturity
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Within one year$18,753 $17,863 $— $— 
After one, but within five years87,593 80,490 97 97 
After five, but within ten years17,162 14,172 560 560 
After ten years150 137 — — 
123,658 112,662 657 657 
Mortgage-backed securities, residential456,788 379,749 — — 
SBA loan pools60,874 58,516 — — 
Total$641,320 $550,927 $657 $657 
Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
The following tables summarize the investment securities available for sale with unrealized losses as of June 30, 2024 and December 31, 2023 by aggregated major security type and length of time in a continuous unrealized loss position (in thousands):
 Less than 12 months12 months or longerTotal
June 30, 2024Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasury notes and bonds$— $— $55,474 $4,371 $55,474 $4,371 
Mortgage-backed securities, residential— — 378,735 77,046 378,735 77,046 
Obligations of states and political subdivisions106 35,674 2,279 35,780 2,283 
Corporate bonds and notes1,881 119 19,527 4,223 21,408 4,342 
SBA loan pools— — 52,872 2,419 52,872 2,419 
Total temporarily impaired securities$1,987 $123 $542,282 $90,338 $544,269 $90,461 

 Less than 12 months12 months or longerTotal
December 31, 2023Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasury notes and bonds$— $— $55,332 $4,480 $55,332 $4,480 
Mortgage-backed securities, residential— — 402,986 72,422 402,986 72,422 
Obligations of states and political subdivisions17,891 241 20,686 576 38,577 817 
Corporate bonds and notes7,492 2,508 13,177 2,573 20,669 5,081 
SBA loan pools3,914 13 54,468 2,367 58,382 2,380 
Total temporarily impaired securities$29,297 $2,762 $546,649 $82,418 $575,946 $85,180