Note 2 - INVESTMENT SECURITIES (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| INVESTMENT SECURITIES |
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| Schedule of amortized cost and fair value of HTM and AFS investment securities |
| | | | | | | | | | | | | | | | | | | | | | Allowance | | Gross | | Gross | | | | | | | Amortized | | for Credit | | Unrealized | | Unrealized | | Fair | | | | Cost | | (Losses) | | Gains | | (Losses) | | Value | | | | | (dollars in thousands) | | June 30, 2025: | | | | | | | | | | | | | | | | | Securities HTM: | | | | | | | | | | | | | | | | | Municipal securities | | $ | 879,663 | | $ | (254) | | $ | 11,203 | | $ | (120,662) | | $ | 769,950 | | Corporate securities | | | 28,585 | | | (8) | | | 3,991 | | | — | | | 32,568 | | Other securities | | | 1,050 | | | (1) | | | — | | | (2) | | | 1,047 | | | | $ | 909,298 | | $ | (263) | | $ | 15,194 | | $ | (120,664) | | $ | 803,565 | | | | | | | | | | | | | | | | | | | Securities AFS: | | | | | | | | | | | | | | | | | U.S. treasuries and govt. sponsored agency securities | | $ | 16,268 | | $ | — | | $ | 3 | | $ | (2,004) | | $ | 14,267 | | Residential mortgage-backed and related securities | | | 63,364 | | | — | | | 6 | | | (4,506) | | | 58,864 | | Municipal securities | | | 204,038 | | | — | | | — | | | (50,059) | | | 153,979 | | Asset-backed securities | | | 6,599 | | | — | | | 85 | | | — | | | 6,684 | | Corporate securities | | | 39,373 | | | — | | | 33 | | | (1,683) | | | 37,723 | | | | $ | 329,642 | | $ | — | | $ | 127 | | $ | (58,252) | | $ | 271,517 | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | Allowance | | Gross | | Gross | | | | | | Amortized | | for Credit | | Unrealized | | Unrealized | | Fair | | | | Cost | | (Losses) | | Gains | | (Losses) | | Value | | | | | (dollars in thousands) | | December 31, 2024: | | | | | | | | | | | | | | | | | Securities HTM: | | | | | | | | | | | | | | | | | Municipal securities | | $ | 806,992 | | $ | (254) | | $ | 23,292 | | $ | (63,164) | | $ | 766,866 | | Corporate securities | | | 28,018 | | | (8) | | | 4,665 | | | — | | | 32,675 | | Other securities | | | 1,050 | | | (1) | | | — | | | (7) | | | 1,042 | | | | $ | 836,060 | | $ | (263) | | $ | 27,957 | | $ | (63,171) | | $ | 800,583 | | | | | | | | | | | | | | | | | | | Securities AFS: | | | | | | | | | | | | | | | | | U.S. treasuries and govt. sponsored agency securities | | $ | 23,113 | | $ | — | | $ | 7 | | $ | (2,529) | | $ | 20,591 | | Residential mortgage-backed and related securities | | | 55,641 | | | — | | | 3 | | | (5,602) | | | 50,042 | | Municipal securities | | | 204,664 | | | — | | | — | | | (40,089) | | | 164,575 | | Asset-backed securities | | | 9,053 | | | — | | | 171 | | | — | | | 9,224 | | Corporate securities | | | 38,866 | | | — | | | 4 | | | (2,193) | | | 36,677 | | | | $ | 331,337 | | $ | — | | $ | 185 | | $ | (50,413) | | $ | 281,109 | |
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| Schedule of securities have been in a continuous unrealized loss position |
| | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | | | | | Gross | | | | Gross | | | | Gross | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | Value | | Losses | | Value | | Losses | | Value | | Losses | | | | (dollars in thousands) | June 30, 2025: | | | | | | | | | | | | | | | | | | | Securities HTM: | | | | | | | | | | | | | | | | | | | Municipal securities | | $ | 276,990 | | $ | (48,221) | | $ | 279,489 | | $ | (72,441) | | $ | 556,479 | | $ | (120,662) | Other securities | | | 500 | | | (1) | | | 548 | | | (1) | | | 1,048 | | | (2) | | | $ | 277,490 | | $ | (48,222) | | $ | 280,037 | | $ | (72,442) | | $ | 557,527 | | $ | (120,664) | | | | | | | | | | | | | | | | | | | | Securities AFS: | | | | | | | | | | | | | | | | | | | U.S. treasuries and govt. sponsored agency securities | | $ | 62 | | $ | (1) | | $ | 13,643 | | $ | (2,003) | | $ | 13,705 | | $ | (2,004) | Residential mortgage-backed and related securities | | | 13,977 | | | (152) | | | 35,931 | | | (4,354) | | | 49,908 | | | (4,506) | Municipal securities | | | 1,400 | | | (44) | | | 152,579 | | | (50,015) | | | 153,979 | | | (50,059) | Asset-backed securities | | | — | | | — | | | — | | | — | | | — | | | — | Corporate securities | | | — | | | — | | | 31,503 | | | (1,683) | | | 31,503 | | | (1,683) | | | $ | 15,439 | | $ | (197) | | $ | 233,656 | | $ | (58,055) | | $ | 249,095 | | $ | (58,252) | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | | | | | Gross | | | | Gross | | | | Gross | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | Value | | Losses | | Value | | Losses | | Value | | Losses | | | | (dollars in thousands) | December 31, 2024: | | | | | | | | | | | | | | | | | | | Securities HTM: | | | | | | | | | | | | | | | | | | | Municipal securities | | $ | 162,914 | | $ | (14,382) | | $ | 253,818 | | $ | (48,782) | | $ | 416,732 | | $ | (63,164) | Other securities | | | 500 | | | — | | | 543 | | | (7) | | | 1,043 | | | (7) | | | $ | 163,414 | | $ | (14,382) | | $ | 254,361 | | $ | (48,789) | | $ | 417,775 | | $ | (63,171) | | | | | | | | | | | | | | | | | | | | Securities AFS: | | | | | | | | | | | | | | | | | | | U.S. govt. sponsored agency securities | | $ | 6,522 | | $ | (2) | | $ | 13,369 | | $ | (2,527) | | $ | 19,891 | | $ | (2,529) | Residential mortgage-backed and related securities | | | 1,337 | | | (24) | | | 48,520 | | | (5,578) | | | 49,857 | | | (5,602) | Municipal securities | | | 798 | | | (6) | | | 163,777 | | | (40,083) | | | 164,575 | | | (40,089) | Corporate securities | | | — | | | — | | | 35,712 | | | (2,193) | | | 35,712 | | | (2,193) | | | $ | 8,657 | | $ | (32) | | $ | 261,378 | | $ | (50,381) | | $ | 270,035 | | $ | (50,413) | | | | | | | | | | | | | | | | | | | |
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| Schedule of activity in allowance for credit losses for HTM and AFS securities by major security |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | | | | | June 30, 2025 | | June 30, 2024 | | | Securities HTM | | Securities AFS | | Securities HTM | | Securities AFS | | | Municipal | | Corporate | | Other | | | | Corporate | | Municipal | | Other | | | | Corporate | | | securities | | securities | | securities | | Total | | securities | | securities | | securities | | Total | | securities | | | | (dollars in thousands) | | | | Allowance for credit losses: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Beginning balance | | $ | 254 | | $ | 8 | | $ | 1 | | $ | 263 | | $ | — | | $ | 202 | | $ | 1 | | $ | 203 | | $ | — | Provision | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | Balance, ending | | $ | 254 | | $ | 8 | | $ | 1 | | $ | 263 | | $ | — | | $ | 202 | | $ | 1 | | $ | 203 | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended | | | June 30, 2025 | | June 30, 2024 | | | Securities HTM | | Securities AFS | | Securities HTM | | Securities AFS | | | Municipal | | | Corporate | Other | | | | | Corporate | | Municipal | | Other | | | | | Corporate | | | securities | | | securities | securities | | Total | | securities | | securities | | securities | | Total | | securities | | | | (dollars in thousands) | Allowance for credit losses: | | | | | | | | | | | | | | | | | | | | | | | | | | | Beginning balance | | $ | 254 | | | 8 | | $ | 1 | | $ | 263 | | $ | — | | $ | 202 | | $ | 1 | | $ | 203 | | $ | 989 | Reduction due to sales | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | (544) | Provision for credit loss expense | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | (445) | Balance, ending | | $ | 254 | | | 8 | | $ | 1 | | $ | 263 | | $ | — | | $ | 202 | | $ | 1 | | $ | 203 | | $ | — |
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| Schedule of realized gain (loss) on investments |
| | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | | | | | June 30, 2025 | | June 30, 2024 | | June 30, 2025 | | June 30, 2024 | | | | | | | | | (dollars in thousands) | | | | | | | | | | | | | | | | | | | Proceeds from sales of securities | | | | | $ | — | | $ | — | | $ | — | | $ | 445 | | Gross gains from sales of securities | | | | | | — | | | — | | | — | | | — | | Gross losses from sales of securities | | | | | | — | | | — | | | — | | | — | |
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| Schedule of investments classified by maturity date |
| | | | | | | | | Amortized Cost | | Fair Value | | | | (dollars in thousands) | Securities HTM: | | | | | | | Due in one year or less | | $ | 359 | | $ | 357 | Due after one year through five years | | | 28,143 | | | 26,320 | Due after five years | | | 880,796 | | | 776,888 | | | $ | 909,298 | | $ | 803,565 | Securities AFS: | | | | | | | Due in one year or less | | $ | — | | $ | — | Due after one year through five years | | | 21,598 | | | 20,870 | Due after five years | | | 238,081 | | | 185,099 | | | | 259,679 | | | 205,969 | Residential mortgage-backed and related securities | | | 63,364 | | | 58,864 | Asset-backed securities | | | 6,599 | | | 6,684 | | | $ | 329,642 | | $ | 271,517 |
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| Schedule of investment in callable securities |
| | | | | | | | | Amortized Cost | | Fair Value | | | | (dollars in thousands) | Securities HTM: | | | | | | | Municipal securities | | $ | 254,089 | | $ | 244,000 | Corporate securities | | | 28,585 | | | 32,567 | | | $ | 282,674 | | $ | 276,567 | | | | | | | | Securities AFS: | | | | | | | Municipal securities | | $ | 203,893 | | $ | 153,844 | Corporate securities | | | 35,408 | | | 33,739 | | | $ | 239,301 | | $ | 187,583 |
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