INVESTMENT SECURITIES (Tables) |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Investment Securities [Abstract] | |
| Investment Portfolio Composition | NOTE 2 – INVESTMENT SECURITIES Investment Portfolio Composition . The following table summarizes the amortized cost and related fair value of investment securities available-for-sale (“AFS”) and securities held-to-maturity (“HTM”) unrealized gains and losses. Available for Amortized Unrealized Unrealized Allowance for Fair (Dollars in Thousands) Cost Gains Losses Credit Losses Value June 30, 2025 U.S. Government Treasury $ 221,568 $ 1,116 $ 363 $ - $ 222,321 U.S. Government Agency 166,665 69 3,666 - 163,068 States and Political Subdivisions 40,551 31 2,708 (1) 37,873 Mortgage-Backed Securities (1) 62,904 1 9,277 - 53,628 Corporate Debt Securities 51,619 - 3,080 (69) 48,470 Other Securities (2) 8,097 - - - 8,097 Total $ 551,404 $ 1,217 $ 19,094 $ (70) $ 533,457 December 31, 2024 U.S. Government Treasury $ 106,710 $ 25 $ 934 $ - $ 105,801 U.S. Government Agency 148,666 39 5,578 - 143,127 States and Political Subdivisions 43,212 - 3,827 (3) 39,382 Mortgage-Backed Securities (1) 66,379 - 10,902 - 55,477 Corporate Debt Securities 55,970 - 4,444 (64) 51,462 Other Securities (2) 8,096 - - - 8,096 Total $ 429,033 $ 64 $ 25,685 $ (67) $ 403,345 Held to Maturity Amortized Unrealized Unrealized Fair (Dollars in Thousands) Cost Gains Losses Value June 30, 2025 U.S. Government Treasury $ 235,499 $ - $ 2,748 $ 232,751 Mortgage-Backed Securities (1) 227,100 236 11,176 216,160 Total $ 462,599 $ 236 $ 13,924 $ 448,911 December 31, 2024 U.S. Government Treasury $ 368,005 $ - $ 6,476 $ 361,529 Mortgage-Backed Securities (1) 199,150 16 16,235 182,931 Total $ 567,155 $ 16 $ 22,711 $ 544,460 (1) (2) Includes Federal Home Loan Bank and Federal Reserve Bank stock, recorded 3.0 5.1 respectively, |
| Maturity Distribution | Available for Held to Maturity (Dollars in Thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 58,288 $ 57,421 $ 227,073 $ 224,454 Due after one year through five years 298,624 294,770 8,426 8,297 Due after five year through ten years 16,353 14,603 - - Mortgage-Backed Securities 62,904 53,628 227,100 216,160 U.S. Government Agency 107,138 104,938 - - Other Securities 8,097 8,097 - - Total $ 551,404 $ 533,457 $ 462,599 $ 448,911 |
| Unrealized Losses on Investment Securities | Less Than Greater Than 12 Months 12 Months Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in Thousands) Value Losses Value Losses Value Losses June 30, 2025 Available for U.S. Government Treasury $ 28,929 $ 14 $ 11,742 $ 349 $ 40,671 $ 363 U.S. Government Agency 41,132 264 93,868 3,402 135,000 3,666 States and Political Subdivisions 1,622 66 34,125 2,642 35,747 2,708 Mortgage-Backed Securities 39 - 53,545 9,277 53,584 9,277 Corporate Debt Securities 1,077 68 47,393 3,012 48,470 3,080 Total $ 72,799 $ 412 $ 240,673 $ 18,682 $ 313,472 $ 19,094 Held to Maturity U.S. Government Treasury - - 232,751 2,748 232,751 2,748 Mortgage-Backed Securities 50,264 204 110,114 10,972 160,378 11,176 Total $ 50,264 $ 204 $ 342,865 $ 13,720 $ 393,129 $ 13,924 December 31, 2024 Available for U.S. Government Treasury $ 81,363 $ 318 $ 14,510 $ 616 $ 95,873 $ 934 U.S. Government Agency 33,155 184 100,844 5,394 133,999 5,578 States and Political Subdivisions 2,728 164 36,654 3,663 39,382 3,827 Mortgage-Backed Securities 54 - 55,409 10,902 55,463 10,902 Corporate Debt Securities 3,093 249 48,369 4,195 51,462 4,444 Total $ 120,393 $ 915 $ 255,786 $ 24,770 $ 376,179 $ 25,685 Held to Maturity U.S. Government Treasury - - 361,529 6,476 361,529 6,476 Mortgage-Backed Securities 58,230 1,000 119,353 15,235 177,583 16,235 Total $ 58,230 $ 1,000 $ 480,882 $ 21,711 $ 539,112 $ 22,711 |