v3.25.1
Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Debt Securities, Available-for-Sale Investments Reconciliation The amortized cost and fair values of debt securities at the dates specified are summarized as follows:
 March 31, 2025
(Dollars in thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair Value
U.S. Treasury securities
$6,998 $— $628 $6,370 
Federal agency CMO
338,988 71 47,650 291,409 
Federal agency MBS
19,718 10 2,640 17,088 
Taxable municipal securities 260,962 64 27,488 233,538 
Tax-exempt municipal securities34,909 4 442 34,471 
Corporate bonds 3,026 — 33 2,993 
Subordinated corporate bonds10,000 — 1,178 8,822 
Total debt securities, at fair value$674,601 $149 $80,059 $594,691 
 December 31, 2024
(Dollars in thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair Value
U.S. Treasury securities
$6,998 $— $766 $6,232 
Federal agency CMO347,500 — 63,313 284,187 
Federal agency MBS20,199 — 3,007 17,192 
Taxable municipal securities 261,137 10 32,926 228,221 
Tax-exempt municipal securities36,459 3 483 35,979 
Corporate bonds 3,473 — 54 3,419 
Subordinated corporate bonds10,000 — 1,300 8,700 
Total debt securities, at fair value$685,766 $13 $101,849 $583,930 
Schedule of Unrealized Loss on Debt Securities, Available-for-Sale Investments
The following tables summarize the duration of unrealized losses for debt securities at March 31, 2025 and December 31, 2024:
 March 31, 2025
 Less than 12 months12 months or longerTotal
(Dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		# of Holdings
U.S. Treasury securities
$— $— $6,370 $628 $6,370 $628 1
Federal agency CMO7,443 25 272,125 47,625 279,568 47,650 84
Federal agency MBS— — 15,440 2,640 15,440 2,640 10 
Taxable municipal securities 895 110 229,879 27,378 230,774 27,488 247
Tax-exempt municipal securities13,060 61 16,290 381 29,350 442 56 
Corporate bonds341 1 2,653 32 2,994 33 13 
Subordinated corporate bonds— — 8,821 1,178 8,821 1,178 5 
Total$21,739 $197 $551,578 $79,862 $573,317 $80,059 416 
 December 31, 2024
 Less than 12 months12 months or longerTotal
(Dollars in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		# of Holdings
U.S. Treasury securities
$— $— $6,232 $766 $6,232 $766 1
Federal agency CMO19,341 548 264,846 62,765 284,187 63,313 85
Federal agency MBS1,623 22 15,569 2,985 17,192 3,007 11 
Taxable municipal securities 1,881 124 224,469 32,802 226,350 32,926 248
Tax-exempt municipal securities16,212 92 16,465 391 32,677 483 64 
Corporate bonds 338 4 3,081 50 3,419 54 15 
Subordinated corporate bonds— — 8,700 1,300 8,700 1,300 5 
Total$39,395 $790 $539,362 $101,059 $578,757 $101,849 429 
Schedule of Debt Securities, Available-for-Sale Investments Classified by Contractual Maturity Date
The contractual maturity distribution at March 31, 2025 of debt securities was as follows:
(Dollars in thousands)Amortized CostFair Value
Due in one year or less$12,211 $12,092 
Due after one, but within five years110,078 104,549 
Due after five, but within ten years209,356 184,585 
Due after ten years342,956 293,465 
 Total debt securities
$674,601 $594,691 
Schedule of Gain (Loss) on Equity Securities
Net gains and losses recognized on equity securities for the three months ended March 31, 2025 and March 31, 2024 are summarized as follows:
Three months ended March 31,
(Dollars in thousands)20252024
Net (losses) gains recognized during the period on equity securities $(301)$465 
Less: Net gains recognized on equity securities sold during the period54 1 
Unrealized (losses) gains recognized during the reporting period on equity securities still held at the end of the period$(355)$464