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Securities & Allowance for Securities Credit Losses (Tables)

9 Months Ended

Sep. 30, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule Of Marketable Securities

The following tables summarize the amortized cost, gross unrealized gains and losses, fair value and allowance for credit losses of AFS and HTM debt securities at September 30, 2025 and December 31, 2024 (dollars in thousands):

			September 30, 2025
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized (Losses)						Fair Value						Allowance for Credit Losses
Securities available for sale:
U.S. government and federal agencies			$	384,409					$	625					$	(1,012)					$	384,022					$	—
Mortgage backed securities			6,359						1						(381)						5,979						—
Corporate bonds			56,828						252						(228)						56,852						—
State and municipal securities			102,995						143						(2,222)						100,916						—
Total securities available for sale			$	550,591					$	1,021					$	(3,843)					$	547,769					$	—
Securities held to maturity:
U.S. government and federal agencies			$	115,454					$	2					$	(5,554)					$	109,902					$	—
Mortgage backed securities			1,155						—						(10)						1,145						—
Corporate bonds			50,815						65						(632)						50,248						(104)
State and municipal securities			116,489						11						(6,656)						109,844						(29)
Total securities held to maturity			$	283,913					$	78					$	(12,852)					$	271,139					$	(133)
Total securities			$	834,504					$	1,099					$	(16,695)					$	818,908					$	(133)

			December 31, 2024
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized (Losses)						Fair Value						Allowance for Credit Losses
Securities available for sale:
U.S. government and federal agencies			$	207,935					$	29					$	(1,561)					$	206,403					$	—
Mortgage backed securities			7,976						1						(582)						7,395						—
Corporate bonds			44,707						20						(753)						43,974						—
State and municipal securities			104,705						37						(4,185)						100,557						—
Total securities available for sale			$	365,323					$	87					$	(7,081)					$	358,329					$	—
Securities held to maturity:
U.S. government and federal agencies			$	122,452					$	—					$	(9,181)					$	113,271					$	—
Mortgage backed securities			1,168						—						(51)						1,117						—
Corporate bonds			57,470						43						(1,698)						55,815						(171)
State and municipal securities			119,563						5						(10,820)						108,748						(31)
Total securities held to maturity			$	300,653					$	48					$	(21,750)					$	278,951					$	(202)
Total securities			$	665,976					$	135					$	(28,831)					$	637,280					$	(202)

Schedule of Realized Gain (Loss)

The proceeds, gross realized gains and losses from sales of debt securities during the three and nine months ended September 30, 2024 were as follows (dollars in thousands):

			Three Months Ended September 30, 2024												Nine Months Ended September 30, 2024
			Available for Sale						Held to Maturity						Available for Sale						Held to Maturity
Proceeds from sales of securities			$	—					$	953					$	—					$	953
Gross losses			$	—					$	(65)					$	—					$	(65)
Net losses on sale of a securities			$	—					$	(65)					$	—					$	(65)
Income tax benefit attributable to realized net losses on sale of securities			$	—					$	14					$	—					$	14

Schedule of Amortized Cost and Fair Value of Investment Securities

The amortized cost and fair value of debt securities by contractual maturity at September 30, 2025 is as follows (dollars in thousands):

			Available for Sale												Held to Maturity
			Amortized Cost						Fair Value						Amortized Cost						Fair Value
Within one year			$	275,515					$	275,575					$	72,571					$	71,977
After one year through five years			253,583						252,073						149,676						143,270
After five years through ten years			16,740						15,740						57,410						52,207
Over ten years			4,753						4,381						4,256						3,685
Total			$	550,591					$	547,769					$	283,913					$	271,139

Schedule of Available-for-sale in Continuous Unrealized Loss Position

The following table shows the gross unrealized losses and fair value of the Company’s AFS debt securities with unrealized losses aggregated by investment category and length of time that individual debt securities have been in a continuous unrealized loss position at September 30, 2025 and December 31, 2024 (dollars in thousands):

			September 30, 2025
			Less Than Twelve Months												Over Twelve Months												Total
			Gross Unrealized Loss						Fair Value						Gross Unrealized Loss						Fair Value						Gross Unrealized Loss						Fair Value
Securities available for sale:
U.S. government and federal agencies			$	(71)					$	92,081					$	(941)					$	15,476					$	(1,012)					$	107,557
Mortgage backed securities			—						—						(381)						5,934						(381)						5,934
Corporate bonds			(15)						4,008						(213)						12,582						(228)						16,590
State and municipal securities			(13)						4,064						(2,209)						64,169						(2,222)						68,233
Total securities available for sale			$	(99)					$	100,153					$	(3,744)					$	98,161					$	(3,843)					$	198,314

			December 31, 2024
			Less Than Twelve Months												Over Twelve Months												Total
			Gross Unrealized Loss						Fair Value						Gross Unrealized Loss						Fair Value						Gross Unrealized Loss						Fair Value
Securities available for sale:
U.S. government and federal agencies			$	(29)					$	141,169					$	(1,532)					$	22,348					$	(1,561)					$	163,517
Mortgage backed securities			—						26						(582)						7,338						(582)						7,364
Corporate bonds			(90)						6,365						(663)						30,677						(753)						37,042
State and municipal securities			(77)						9,121						(4,108)						79,790						(4,185)						88,911
Total securities available for sale			$	(196)					$	156,681					$	(6,885)					$	140,153					$	(7,081)					$	296,834

Schedule of Debt Securities, Available-for-Sale, Allowance for Credit Loss

The table below presents a rollforward by major security type of the allowance for credit losses on AFS debt securities for the nine months ended September 30, 2024 (dollars in thousands):

			September 30, 2024
For the nine months ended			U.S. Government and Federal Agencies						Mortgage Backed Securities						Corporate Bonds						State and Municipal Securities						Total AFS Securities
Allowance for credit losses:
Beginning balance, December 31, 2023			$	—					$	—					$	—					$	—					$	—
Provision for (recapture of) credit losses			—						—						(210)						—						(210)
Write offs charged against the allowance			—						—						—						—						—
Recoveries of amounts previously written off			—						—						210						—						210
Ending balance, September 30, 2024			$	—					$	—					$	—					$	—					$	—

Schedule of Debt Securities, Held-to-Maturity, Credit Quality Indicator

The following table presents the amortized cost of HTM debt securities as of September 30, 2025 and December 31, 2024 by security type and credit rating (dollars in thousands):

			September 30, 2025
			U.S. Government and Federal Agencies						Mortgage Backed Securities						Corporate Bonds						State and Municipal Securities						Total HTM Securities
AAA / AA / A			$	115,454					$	1,155					$	17,947					$	116,489					$	251,045
BBB / BB / B			—						—						32,868						—						32,868
Total			$	115,454					$	1,155					$	50,815					$	116,489					$	283,913

			December 31, 2024
			U.S. Government and Federal Agencies						Mortgage Backed Securities						Corporate Bonds						State and Municipal Securities						Total HTM Securities
AAA / AA / A			$	122,452					$	1,168					$	18,046					$	119,563					$	261,229
BBB / BB / B			—						—						39,424						—						39,424
Total			$	122,452					$	1,168					$	57,470					$	119,563					$	300,653

Schedule of Amortized Cost of HTM Debt Securities

The following tables summarize the change in the allowance for credit losses on HTM debt securities for the three and nine months ended September 30, 2025 and 2024 (dollars in thousands):

			September 30, 2025
For the three months ended			U.S. Government and Federal Agencies						Mortgage Backed Securities						Corporate Bonds						State and Municipal Securities						Total HTM Securities
Allowance for credit losses:
Beginning balance, June 30, 2025			$	—					$	—					$	114					$	30					$	144
Provision for (recapture of) credit losses			—						—						(10)						(1)						(11)
Write offs charged against the allowance			—						—						—						—						—
Recoveries of amounts previously written off			—						—						—						—						—
Ending balance, September 30, 2025			$	—					$	—					$	104					$	29					$	133

			September 30, 2024
For the three months ended			U.S. Government and Federal Agencies						Mortgage Backed Securities						Corporate Bonds						State and Municipal Securities						Total HTM Securities
Allowance for credit losses:
Beginning balance, June 30, 2024			$	—					$	—					$	215					$	33					$	248
Provision for (recapture of) credit losses			—						—						15						(2)						13
Write offs charged against the allowance			—						—						—						—						—
Recoveries of amounts previously written off			—						—						—						—						—
Ending balance, September 30, 2024			$	—					$	—					$	230					$	31					$	261

			September 30, 2025
For the nine months ended			U.S. Government and Federal Agencies						Mortgage Backed Securities						Corporate Bonds						State and Municipal Securities						Total HTM Securities
Allowance for credit losses:
Beginning balance, December 31, 2024			$	—					$	—					$	171					$	31					$	202
Provision for (recapture of) credit losses			—						—						(67)						(2)						(69)
Write offs charged against the allowance			—						—						—						—						—
Recoveries of amounts previously written off			—						—						—						—						—
Ending balance, September 30, 2025			$	—					$	—					$	104					$	29					$	133

			September 30, 2024
For the nine months ended			U.S. Government and Federal Agencies						Mortgage Backed Securities						Corporate Bonds						State and Municipal Securities						Total HTM Securities
Allowance for credit losses:
Beginning balance, December 31, 2023			$	—					$	—					$	322					$	26					$	348
Provision for credit losses			—						—						(92)						5						(87)
Write offs charged against the allowance			—						—						—						—						—
Recoveries of amounts previously written off			—						—						—						—						—
Ending balance, September 30, 2024			$	—					$	—					$	230					$	31					$	261

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+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
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-Topic 326
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