v3.25.2
Securities and Other Investments (Tables)
 6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Fair Value of Securities AFS
The amortized cost and fair value of securities AFS are summarized as follows.
June 30, 2025
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated Fair Value
Securities AFS:
U.S. Treasury securities$18,194 $— $1,274 $16,920 
U.S. government agency securities4,724 — 23 4,701 
State, county and municipals296,965 86 23,095 273,956 
Mortgage-backed securities496,460 3,085 26,243 473,302 
Corporate debt securities84,446 22 4,094 80,374 
Total securities AFS$900,789 $3,193 $54,729 $849,253 
December 31, 2024
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated Fair Value
Securities AFS:
U.S. Treasury securities$15,795 $— $1,767 $14,028 
U.S. government agency securities5,563 — 43 5,520 
State, county and municipals310,931 116 26,344 284,703 
Mortgage-backed securities455,386 1,101 34,534 421,953 
Corporate debt securities85,183 — 4,972 80,211 
Total securities AFS$872,858 $1,217 $67,660 $806,415 
Schedule of Proceeds and Realized Gains or Losses from the Sale of AFS and HTM Securities
Proceeds and realized gains or losses from the sale of AFS securities were as follows.
Six Months Ended June 30,
(in thousands)20252024
Securities AFS:
Gross gains$4 $1,038 
Gross losses— (70)
Gains (losses) on sales of securities AFS, net
$4 $968 
Proceeds from sales of securities AFS$1,250 $4,987 
Schedule of Unrealized Losses and Fair Value of Investment Securities
The following table presents gross unrealized losses and the related estimated fair value of investment securities for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position.
June 30, 2025
Less than 12 months12 months or moreTotal
($ in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Number of
Securities
Securities AFS:
U.S. Treasury securities$2,492 $3 $14,428 $1,271 $16,920 $1,274 2 
U.S. government agency securities1,425 1 3,276 22 4,701 23 10 
State, county and municipals30,179 1,239 229,545 21,856 259,724 23,095 493 
Mortgage-backed securities32,243 387 239,566 25,856 271,809 26,243 389 
Corporate debt securities4,320 36 66,428 4,058 70,748 4,094 45 
Total
$70,659 $1,666 $553,243 $53,063 $623,902 $54,729 939 
December 31, 2024
Less than 12 months12 months or moreTotal
($ in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Number of
Securities
Securities AFS:
U.S. Treasury securities$— $— $14,028 $1,767 $14,028 $1,767 1 
U.S. government agency securities1,918 11 3,602 32 5,520 43 10 
State, county and municipals43,565 1,497 228,355 24,847 271,920 26,344 528 
Mortgage-backed securities79,899 1,105 252,612 33,429 332,511 34,534 429 
Corporate debt securities7,048 63 68,332 4,909 75,380 4,972 50 
Total
$132,430 $2,676 $566,929 $64,984 $699,359 $67,660 1,018 
Schedule of Amortized Cost and Fair Value of Investment Securities by Contractual Maturity
The amortized cost and fair value of investment securities by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties; as this is particularly inherent in mortgage-backed securities, these securities are not included in the maturity categories below.
As of June 30, 2025
Securities AFS
(in thousands)Amortized CostFair Value
Due in less than one year$23,977 $23,753 
Due in one year through five years151,304 142,637 
Due after five years through ten years147,467 136,131 
Due after ten years81,581 73,430 
404,329 375,951 
Mortgage-backed securities496,460 473,302 
Total investment securities$900,789 $849,253 
Schedule of Carrying Value of other Investments The carrying value of other investments are summarized as follows.
June 30, 2025December 31, 2024
(in thousands)AmountAmount
Federal Reserve Bank stock
$33,425 $33,335 
Federal Home Loan Bank (“FHLB”) stock
6,290 9,674 
Equity securities with readily determinable fair values8,456 8,610 
Other investments11,423 10,506 
Total other investments$59,594 $62,125