v3.25.1
Securities (Tables)
 3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Gross Unrealized Loss Recognized on Equity Securities The gross unrealized gain (loss) recognized on equity securities with readily determinable fair values recorded in other noninterest income in the Company’s consolidated statements of income is as follows:
Three Months Ended March 31,
20252024
Unrealized gain (loss) recognized on equity securities with a readily determinable fair value$168 $(105)
Schedule of Carrying Amount and Approximate Fair Values of Available-for-Sale Securities The amortized cost, related gross unrealized gains and losses, ACL and the fair value of AFS and HTM debt securities are as follows:
 March 31, 2025
 Amortized CostGross Unrealized GainsGross Unrealized LossesACLFair Value
AFS
Corporate bonds$282,068 $1,872 $12,683 $— $271,257 
Municipal securities28,121 — 4,268 — 23,853 
MBS252,334 3,916 12,069 — 244,181 
CMO587,585 3,696 30,452 — 560,829 
Asset-backed securities104,116 1,135 2,164 — 103,087 
Collateralized loan obligations81,802 11 660 — 81,153 
 $1,336,026 $10,630 $62,296 $— $1,284,360 
Amortized CostGross Unrealized GainsGross Unrealized LossesACLFair Value
HTM
MBS$30,713 $— $6,043 $— $24,670 
CMO32,575 — 4,014 — 28,561 
Municipal securities115,509 — 13,876 — 101,633 
$178,797 $— $23,933 $— $154,864 
 December 31, 2024
 Amortized CostGross Unrealized GainsGross Unrealized LossesACLFair Value
AFS
Corporate bonds$271,889 $1,815 $17,184 $— $256,520 
Municipal securities28,142 — 3,797 — 24,345 
MBS258,896 2,256 14,822 — 246,330 
CMO600,709 1,734 41,841 — 560,602 
Asset-backed securities110,148 563 2,745 — 107,966 
Collateralized loan obligations98,885 106 242 — 98,749 
 $1,368,669 $6,474 $80,631 $— $1,294,512 
Amortized CostGross Unrealized GainsGross Unrealized LossesACLFair Value
HTM
MBS$31,439 $— $6,625 $— $24,814 
CMO32,892 — 4,920 — 27,972 
Municipal securities119,695 — 11,921 — 107,774 
$184,026 $— $23,466 $— $160,560 
Schedule of Investment Securities That Have Been in a Continuous Unrealized Loss Position
The following tables disclose the Company’s debt securities in an unrealized loss position, aggregated by investment category and length of time that individual debt securities have been in a continuous loss position:
 March 31, 2025
 Less Than 12 Months12 Months or MoreTotals
 Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
AFS
Corporate bonds$48,223 $1,498 $162,474 $11,185 $210,697 $12,683 
Municipal securities14,837 1,268 9,016 3,000 23,853 4,268 
MBS8,589 149 73,932 11,920 82,521 12,069 
CMO87,725 710 249,394 29,742 337,119 30,452 
Asset-backed securities14,301 30 45,422 2,134 59,723 2,164 
Collateralized loan obligations63,061 520 9,052 140 72,113 660 
 $236,736 $4,175 $549,290 $58,121 $786,026 $62,296 
HTM
MBS$— $— $24,670 $6,043 $24,670 $6,043 
CMO— — 28,561 4,014 28,561 4,014 
Municipal securities77,649 9,426 21,826 4,450 99,475 13,876 
 $77,649 $9,426 $75,057 $14,507 $152,706 $23,933 
 December 31, 2024
 Less Than 12 Months12 Months or MoreTotals
 Fair
Value		Unrealized LossFair
Value		Unrealized LossFair
Value		Unrealized Loss
AFS
Corporate bonds$38,914 $2,329 $174,876 $14,855 $213,790 $17,184 
Municipal securities15,519 594 8,826 3,203 24,345 3,797 
MBS71,889 694 74,131 14,128 146,020 14,822 
CMO168,016 3,383 247,079 38,458 415,095 41,841 
Asset-backed securities71,538 635 13,034 2,110 84,572 2,745 
Collateralized loan obligations40,406 242 — — 40,406 242 
 $406,282 $7,877 $517,946 $72,754 $924,228 $80,631 
HTM
MBS$— $— $24,814 $6,625 $24,814 $6,625 
CMO— — 27,972 4,920 27,972 4,920 
Municipal securities83,738 8,198 22,679 3,723 106,417 11,921 
$83,738 $8,198 $75,465 $15,268 $159,203 $23,466 
Schedule of Amortized Costs and Estimated Fair Values of Securities Available for Sale, By Contractual Maturity The amortized costs and estimated fair values of AFS and HTM debt securities, by contractual maturity, as of the dates indicated, are shown in the table below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. MBS, CMOs, asset-backed securities, and collateralized loan obligations typically are issued with stated principal amounts, and the securities are backed by pools of mortgage loans and other loans that have varying maturities. The terms of MBS, CMOs, asset-backed securities, and collateralized loan obligations thus approximates the terms of the underlying mortgages and loans and can vary significantly due to prepayments. Therefore, these securities are not included in the maturity categories below.
March 31, 2025
AFSHTM
Amortized CostFair ValueAmortized CostFair Value
Due in one year or less$— $— $— $— 
Due from one year to five years79,619 79,865 2,443 2,405 
Due from five years to ten years161,760 152,512 17,861 17,251 
Due after ten years68,810 62,733 95,205 81,977 
310,189 295,110 115,509 101,633 
MBS and CMO839,919 805,010 63,288 53,231 
Asset-backed securities104,116 103,087 — — 
Collateralized loan obligations81,802 81,153 — — 
$1,336,026 $1,284,360 $178,797 $154,864 
December 31, 2024
AFSHTM
Amortized CostFair ValueAmortized CostFair Value
Due in one year or less$— $— $3,919 $3,919 
Due from one year to five years69,451 68,737 890 857 
Due from five years to ten years176,147 163,478 19,464 18,857 
Due after ten years54,433 48,650 95,422 84,141 
300,031 280,865 119,695 107,774 
MBS and CMO859,605 806,932 64,331 52,786 
Asset-backed securities110,148 107,966 — — 
Collateralized loan obligations98,885 98,749 — — 
$1,368,669 $1,294,512 $184,026 $160,560 
Schedule of Proceeds From Sales of Debt Securities AFS and Gross Gains and Losses
Proceeds from sales of debt securities AFS and gross gains and losses for the three months ended March 31, 2025 and 2024 were as follows:
Three Months ended March 31,
20252024
Proceeds from sales $— $113,794 
Gross realized gains— — 
Gross realized losses — 6,304