| Amortized Cost and Fair Value of Securities with Gross Unrealized Gains and Losses |
The amortized cost and fair value of securities, with gross unrealized gains and losses at June 30, 2025 and December 31, 2024, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In Thousands) |
|
|
|
June 30, 2025 |
|
|
|
Amortized |
|
|
Gross Unrealized |
|
|
Gross Unrealized |
|
|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
Available-for-Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury |
|
$ |
99,030 |
|
|
$ |
28 |
|
|
$ |
(3,668 |
) |
|
$ |
95,390 |
|
U.S. Government agencies |
|
|
144,382 |
|
|
|
20 |
|
|
|
(6,736 |
) |
|
|
137,666 |
|
Mortgage-backed securities |
|
|
147,570 |
|
|
|
39 |
|
|
|
(10,656 |
) |
|
|
136,953 |
|
State and local governments |
|
|
64,435 |
|
|
|
28 |
|
|
|
(3,370 |
) |
|
|
61,093 |
|
Total available-for-sale securities |
|
$ |
455,417 |
|
|
$ |
115 |
|
|
$ |
(24,430 |
) |
|
$ |
431,102 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In Thousands) |
|
|
|
December 31, 2024 |
|
|
|
Amortized |
|
|
Gross Unrealized |
|
|
Gross Unrealized |
|
|
Fair |
|
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
Available-for-Sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury |
|
$ |
111,397 |
|
|
$ |
17 |
|
|
$ |
(5,415 |
) |
|
$ |
105,999 |
|
U.S. Government agencies |
|
|
144,660 |
|
|
|
- |
|
|
|
(9,494 |
) |
|
|
135,166 |
|
Mortgage-backed securities |
|
|
133,268 |
|
|
|
17 |
|
|
|
(12,654 |
) |
|
|
120,631 |
|
State and local governments |
|
|
69,159 |
|
|
|
28 |
|
|
|
(4,427 |
) |
|
|
64,760 |
|
Total available-for-sale securities |
|
$ |
458,484 |
|
|
$ |
62 |
|
|
$ |
(31,990 |
) |
|
$ |
426,556 |
|
|
| Gross Unrealized Losses, Aggregated by Investment Category and Length of Time |
Information pertaining to securities with gross unrealized losses at June 30, 2025 and December 31, 2024, aggregated by investment category and length of time that individual securities have been in a continuous loss position follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In Thousands) |
|
|
|
June 30, 2025 |
|
|
|
Less Than Twelve Months |
|
|
Twelve Months & Over |
|
|
Total |
|
|
|
Gross Unrealized |
|
|
Fair |
|
|
Gross Unrealized |
|
|
Fair |
|
|
Gross Unrealized |
|
|
Fair |
|
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
U.S. Treasury |
|
$ |
(133 |
) |
|
$ |
27,970 |
|
|
$ |
(3,535 |
) |
|
$ |
63,088 |
|
|
$ |
(3,668 |
) |
|
$ |
91,058 |
|
U.S. Government agencies |
|
|
(19 |
) |
|
|
7,726 |
|
|
|
(6,717 |
) |
|
|
126,054 |
|
|
|
(6,736 |
) |
|
|
133,780 |
|
Mortgage-backed securities |
|
|
(683 |
) |
|
|
63,251 |
|
|
|
(9,973 |
) |
|
|
63,996 |
|
|
|
(10,656 |
) |
|
|
127,247 |
|
State and local governments |
|
|
(107 |
) |
|
|
5,753 |
|
|
|
(3,263 |
) |
|
|
51,195 |
|
|
|
(3,370 |
) |
|
|
56,948 |
|
Total available-for-sale securities |
|
$ |
(942 |
) |
|
$ |
104,700 |
|
|
$ |
(23,488 |
) |
|
$ |
304,333 |
|
|
$ |
(24,430 |
) |
|
$ |
409,033 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In Thousands) |
|
|
|
December 31, 2024 |
|
|
|
Less Than Twelve Months |
|
|
Twelve Months & Over |
|
|
Total |
|
|
|
Gross Unrealized |
|
|
Fair |
|
|
Gross Unrealized |
|
|
Fair |
|
|
Gross Unrealized |
|
|
Fair |
|
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
U.S. Treasury |
|
$ |
(467 |
) |
|
$ |
31,533 |
|
|
$ |
(4,948 |
) |
|
$ |
62,151 |
|
|
$ |
(5,415 |
) |
|
$ |
93,684 |
|
U.S. Government agencies |
|
|
- |
|
|
|
- |
|
|
|
(9,494 |
) |
|
|
131,335 |
|
|
|
(9,494 |
) |
|
|
131,335 |
|
Mortgage-backed securities |
|
|
(668 |
) |
|
|
51,236 |
|
|
|
(11,986 |
) |
|
|
66,877 |
|
|
|
(12,654 |
) |
|
|
118,113 |
|
State and local governments |
|
|
(224 |
) |
|
|
8,631 |
|
|
|
(4,203 |
) |
|
|
53,091 |
|
|
|
(4,427 |
) |
|
|
61,722 |
|
Total available-for-sale securities |
|
$ |
(1,359 |
) |
|
$ |
91,400 |
|
|
$ |
(30,631 |
) |
|
$ |
313,454 |
|
|
$ |
(31,990 |
) |
|
$ |
404,854 |
|
|
| Amortized Cost and Fair Value of Debt Securities, by Contractual Maturity |
The amortized cost and fair value of debt securities at June 30, 2025, by contractual maturity, are shown 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.
|
|
|
|
|
|
|
|
|
|
|
(In Thousands) |
|
|
|
Amortized |
|
|
|
|
|
|
Cost |
|
|
Fair Value |
|
One year or less |
|
$ |
63,149 |
|
|
$ |
62,185 |
|
After one year through five years |
|
|
224,876 |
|
|
|
212,978 |
|
After five years through ten years |
|
|
19,822 |
|
|
|
18,986 |
|
After ten years |
|
|
- |
|
|
|
- |
|
Total |
|
$ |
307,847 |
|
|
$ |
294,149 |
|
Mortgage-backed securities |
|
|
147,570 |
|
|
|
136,953 |
|
Total |
|
$ |
455,417 |
|
|
$ |
431,102 |
|
|