v3.25.2
AFS Securities (Tables)
6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and fair value of available-for-sale securities
The amortized cost and fair value of AFS securities, with gross unrealized gains and losses, are as follows at:
 June 30, 2025
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
U.S. Treasury$210,588 $— $6,282 $204,306 
States and political subdivisions72,933 4,617 68,320 
Auction rate money market preferred3,200 — 435 2,765 
Mortgage-backed securities26,093 — 1,436 24,657 
Collateralized mortgage obligations197,190 744 4,694 193,240 
Corporate8,150 — 878 7,272 
Total$518,154 $748 $18,342 $500,560 
 December 31, 2024
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
U.S. Treasury$230,807 $— $10,236 $220,571 
States and political subdivisions81,135 4,576 76,568 
Auction rate money market preferred3,200 — 156 3,044 
Mortgage-backed securities29,068 — 2,182 26,886 
Collateralized mortgage obligations163,156 — 8,482 154,674 
Corporate8,150 — 864 7,286 
Total$515,516 $$26,496 $489,029 
Amortized cost and fair value of available-for-sale securities by contractual maturity
The amortized cost and fair value of AFS securities by contractual maturity at June 30, 2025 are as follows:
MaturingSecurities with Variable Monthly Payments or Noncontractual Maturities
Due in
One Year
or Less
After One
Year But
Within
Five Years
After Five
Years But
Within
Ten Years
After
Ten Years
Total
U.S. Treasury$110,318 $100,270 $— $— $— $210,588 
States and political subdivisions11,398 18,614 20,053 22,868 — 72,933 
Auction rate money market preferred— — — — 3,200 3,200 
Mortgage-backed securities— — — — 26,093 26,093 
Collateralized mortgage obligations— — — — 197,190 197,190 
Corporate— — 8,150 — — 8,150 
Total amortized cost$121,716 $118,884 $28,203 $22,868 $226,483 $518,154 
Fair value$118,985 $115,038 $25,551 $20,324 $220,662 $500,560 
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The information in the following tables pertains to AFS securities with gross unrealized losses at June 30, 2025 and December 31, 2024, aggregated by investment category and length of time that individual securities have been in a continuous loss position.
 June 30, 2025
 Less Than Twelve MonthsTwelve Months or More 
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Total
Unrealized
Losses
U.S. Treasury$— $— $6,282 $204,306 $6,282 
States and political subdivisions224 14,716 4,393 37,646 4,617 
Auction rate money market preferred— — 435 2,765 435 
Mortgage-backed securities— — 1,436 24,657 1,436 
Collateralized mortgage obligations21 5,843 4,673 136,395 4,694 
Corporate83 1,617 795 5,655 878 
Total$328 $22,176 $18,014 $411,424 $18,342 
Number of securities in an unrealized loss position:73 195 268 
 December 31, 2024
 Less Than Twelve MonthsTwelve Months or More
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Total
Unrealized
Losses
U.S. Treasury$— $— $10,236 $220,571 $10,236 
States and political subdivisions486 23,553 4,090 36,796 4,576 
Auction rate money market preferred— — 156 3,044 156 
Mortgage-backed securities— — 2,182 26,886 2,182 
Collateralized mortgage obligations185 5,646 8,297 149,028 8,482 
Corporate— — 864 7,286 864 
Total$671 $29,199 $25,825 $443,611 $26,496 
Number of securities in an unrealized loss position:175 178 353