v3.25.2
Securities (Tables)
6 Months Ended
Jun. 30, 2025
Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation

June 30, 2025

    

    

Gross

    

Gross

    

Amortized

Unrealized

Unrealized

Fair

Available-for-sale:

Cost

Gains

Losses

Value

U.S. Treasury

$

82,839

$

$

(5,021)

$

77,818

U.S. Government-sponsored enterprises (GSEs)

34,500

278

(110)

34,668

Municipal securities

 

21,865

 

1

 

(842)

 

21,024

Other debt securities

 

40,323

 

291

 

(1,699)

 

38,915

Mortgage-backed securities (GSEs)

 

345,295

 

1,569

 

(17,139)

 

329,725

Total

$

524,822

$

2,139

$

(24,811)

$

502,150

December 31, 2024

    

    

Gross

    

Gross

    

Amortized

Unrealized

Unrealized

Fair

Available-for-sale:

Cost

Gains

Losses

Value

U.S. Treasury

$

83,330

$

$

(7,104)

$

76,226

U.S. Government-sponsored enterprises (GSEs)

38,917

453

(182)

39,188

Municipal securities

 

18,277

 

 

(587)

 

17,690

Other debt securities

 

41,321

 

252

 

(2,138)

 

39,435

Mortgage-backed securities (GSEs)

 

330,839

 

515

 

(21,565)

 

309,789

Total

$

512,684

$

1,220

$

(31,576)

$

482,328

Schedule of Held-to-maturity Securities Reconciliation

June 30, 2025

    

    

Gross

    

Gross

    

Amortized

Unrealized

Unrealized

Fair

Held-to-maturity:

Cost

Gains

Losses

Value

U.S. Government-sponsored enterprises (GSEs)

$

47,494

$

$

(6,020)

$

41,474

Municipal securities

 

51,131

 

 

(7,002)

 

44,129

Mortgage-backed securities (GSEs)

 

25,895

 

 

(3,364)

 

22,531

Total

$

124,520

$

$

(16,386)

$

108,134

December 31, 2024

    

    

Gross

    

Gross

    

Amortized

Unrealized

Unrealized

Fair

Held-to-maturity:

Cost

Gains

Losses

Value

U.S. Government-sponsored enterprises (GSEs)

$

48,112

$

$

(7,335)

$

40,777

Municipal securities

 

51,652

 

 

(7,037)

 

44,615

Mortgage-backed securities (GSEs)

 

26,895

 

 

(4,207)

 

22,688

Total

$

126,659

$

$

(18,579)

$

108,080

Investments Classified by Contractual Maturity Date

The amortized cost and estimated fair value of securities at June 30, 2025, by contractual maturity for non-mortgage-backed securities are shown below (in thousands). 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.

June 30, 2025

    

Amortized

    

Fair

Available-for-sale:

Cost

Value

Due in one year or less

$

4,815

$

4,815

Due from one year to five years

 

98,528

 

93,514

Due from five years to ten years

 

63,791

 

62,366

Due after ten years

 

12,393

 

11,730

 

179,527

 

172,425

Mortgage-backed securities

 

345,295

 

329,725

Total

$

524,822

$

502,150

Held-to-maturity:

Due in one year or less

$

$

Due from one year to five years

 

6,861

 

6,356

Due from five years to ten years

 

51,176

 

44,551

Due after ten years

 

40,588

 

34,696

 

98,625

 

85,603

Mortgage-backed securities

 

25,895

 

22,531

Total

$

124,520

$

108,134

Schedule of Unrealized Loss on Investments

The following tables present the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities AFS and HTM have been in a continuous unrealized loss position (in thousands):

June 30, 2025

Less than 12 Months

12 Months or Greater

Total

    

    

Gross

Number

    

    

Gross

Number

    

    

Gross

Number

Fair

Unrealized

of

Fair

Unrealized

of

Fair

Unrealized

of

Available-for-sale:

Value

Losses

Securities

Value

Losses

Securities

Value

Losses

Securities

U.S. Treasury

$

$

$

77,818

$

(5,021)

9

$

77,818

$

(5,021)

9

U.S. Government-sponsored enterprises (GSEs)

3,427

(11)

2

6,495

(99)

5

9,922

(110)

7

Municipal securities

 

8,562

 

(424)

7

 

10,920

 

(418)

16

 

19,482

 

(842)

23

Other debt securities

 

3,183

 

(57)

3

 

22,712

 

(1,642)

19

 

25,895

 

(1,699)

22

Mortgage-backed securities (GSEs)

 

49,405

 

(551)

29

 

177,337

 

(16,588)

90

 

226,742

 

(17,139)

119

Total

$

64,577

$

(1,043)

41

$

295,282

$

(23,768)

139

$

359,859

$

(24,811)

180

June 30, 2025

Less than 12 Months

12 Months or Greater

Total

    

    

Gross

Number

    

    

Gross

Number

    

    

Gross

Number

Fair

Unrealized

of

Fair

Unrealized

of

Fair

Unrealized

of

Held-to-maturity:

Value

Losses

Securities

Value

Losses

Securities

Value

Losses

Securities

U.S. Government-sponsored enterprises (GSEs)

$

$

$

41,474

$

(6,020)

13

$

41,474

$

(6,020)

13

Municipal securities

 

 

 

44,129

 

(7,002)

35

 

44,129

 

(7,002)

35

Mortgage-backed securities (GSEs)

 

 

 

22,531

 

(3,364)

5

 

22,531

 

(3,364)

5

Total

$

$

$

108,134

$

(16,386)

53

$

108,134

$

(16,386)

53

December 31, 2024

Less than 12 Months

12 Months or Greater

Total

    

    

Gross

Number

    

    

Gross

Number

    

    

Gross

Number

Fair

Unrealized

of

Fair

Unrealized

of

Fair

Unrealized

of

Available-for-sale:

Value

Losses

Securities

Value

Losses

Securities

Value

Losses

Securities

U.S. Treasury

$

$

$

76,226

$

(7,104)

9

$

76,226

$

(7,104)

9

U.S. Government-sponsored enterprises (GSEs)

9,069

(80)

4

4,813

(102)

4

13,882

(182)

8

Municipal securities

 

5,579

 

(59)

8

 

11,322

 

(528)

17

 

16,901

 

(587)

25

Other debt securities

 

4,425

 

(36)

3

 

28,294

 

(2,102)

24

 

32,719

 

(2,138)

27

Mortgage-backed securities (GSEs)

 

80,111

 

(939)

39

 

160,129

 

(20,626)

83

 

240,240

 

(21,565)

122

Total

$

99,184

$

(1,114)

54

$

280,784

$

(30,462)

137

$

379,968

$

(31,576)

191

December 31, 2024

Less than 12 Months

12 Months or Greater

Total

    

    

Gross

Number

    

    

Gross

Number

    

    

Gross

Number

Fair

Unrealized

of

Fair

Unrealized

of

Fair

Unrealized

of

Held-to-maturity:

Value

Losses

Securities

Value

Losses

Securities

Value

Losses

Securities

U.S. Government-sponsored enterprises (GSEs)

$

$

$

40,777

$

(7,335)

13

$

40,777

$

(7,335)

13

Municipal securities

 

 

 

44,615

 

(7,037)

35

 

44,615

 

(7,037)

35

Mortgage-backed securities (GSEs)

 

 

 

22,688

 

(4,207)

5

 

22,688

 

(4,207)

5

Total

$

$

$

108,080

$

(18,579)

53

$

108,080

$

(18,579)

53

Schedule of Other Investments

The following is the amortized cost and carrying value of other investments (in thousands):

June 30, 

December 31, 

    

2025

    

2024

Federal Reserve Bank stock

$

9,604

 

$

9,045

Federal Home Loan Bank stock

 

4,759

 

5,345

First National Bankers Bank stock

 

350

 

350

Total

$

14,713

$

14,740