The Company held marketable equity securities with fair values of $10.1 million at March 31, 2026 and $8.4 million at December 31, 2025, respectively. The realized and unrealized gains (losses) recognized on marketable equity securities in other operating income in the Company's Consolidated Statements of Income were as follows:

Debt securities have been classified in the financial statements as available for sale or held to maturity. The following table summarizes the amortized cost, estimated fair value, and the Allowance for Credit Losses (“ACL”) of debt securities and the corresponding amounts of gross unrealized gains and losses of available-for-sale securities recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses of held to maturity securities at the periods indicated:


(In Thousands)	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Allowance for Credit Losses	Fair Value
March 31, 2026
Securities available for sale
U.S. Treasury and government sponsored entities	$383,307	$928	($2,215)	$—	$382,020

U.S. Agency mortgage-backed securities	4,706	2	—		4,708
Corporate bonds	5,001	—	(23)	—	4,978
Collateralized loan obligations	26,728	31	(18)	—	26,741
Total securities available for sale	$419,742	$961	($2,256)	$—	$418,447


(In Thousands)	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Allowance for Credit Losses	Fair Value
March 31, 2026
Securities held to maturity
Corporate bonds	$31,750	$—	($1,066)	$—	$30,684
Total securities held to maturity	$31,750	$—	($1,066)	$—	$30,684


(In Thousands)	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Allowance for Credit Losses	Fair Value
December 31, 2025
Securities available for sale
U.S. Treasury and government sponsored entities	$389,391	$1,717	($2,371)	$—	$388,737

U.S. Agency mortgage-backed securities	4,797	1	—		4,798
Corporate bonds	5,003	—	(51)	—	4,952
Collateralized loan obligations	22,141	33	—	—	22,174
Total securities available for sale	$421,332	$1,751	($2,422)	$—	$420,661


(In Thousands)	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Allowance for Credit Losses	Fair Value
December 31, 2025
Securities held to maturity
Corporate bonds	$26,750	$426	($578)	$—	$26,598
Total securities held to maturity	$26,750	$426	($578)	$—	$26,598

Gross unrealized losses on available for sale securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2026 and December 31, 2025 were as follows:


	Less Than 12 Months		More Than 12 Months		Total
(In Thousands)	Fair Value	Unrealized Losses	Fair Value	Unrealized Losses	Fair Value	Unrealized Losses
March 31, 2026
Securities available for sale
U.S. Treasury and government sponsored entities	$103,212	($598)	$187,086	($1,617)	$290,298	($2,215)
Corporate bonds	—	—	4,978	(23)	4,978	(23)
Collateralized loan obligations	4,982	(18)	—	—	4,982	(18)



Total	$108,194	($616)	$192,064	($1,640)	$300,258	($2,256)
Securities Held to Maturity
Corporate bonds	$4,773	($227)	$10,911	($839)	$15,684	($1,066)
Total	$4,773	($227)	$10,911	($839)	$15,684	($1,066)

December 31, 2025
Securities available for sale
U.S. Treasury and government sponsored entities	$19,992	($8)	$236,387	($2,363)	$256,379	($2,371)
Corporate bonds	—	—	4,592	(51)	4,592	(51)



Total	$19,992	($8)	$240,979	($2,414)	$260,971	($2,422)
Securities Held to Maturity
Corporate bonds	$—	$—	$11,172	($578)	$11,172	($578)
Total	$—	$—	$11,172	($578)	$11,172	($578)

Management evaluates available for sale debt securities and securities held to maturity in unrealized loss positions to determine whether the impairment is due to credit-related factors or noncredit-related factors. Consideration is given to the extent to which the fair value is less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for any anticipated recovery in fair value.

At March 31, 2026, the Company had 16 available for sale securities in an unrealized loss position without an ACL that have been in a loss position for less than twelve months. There were 22 available for sale securities without an ACL with unrealized losses at March 31, 2026 that have been in a loss position for more than twelve months. At March 31, 2026, the Company had two held to maturity securities in an unrealized loss position without an ACL that have been in a loss position for more than twelve months. There was one held to maturity security without an ACL with an unrealized loss at March 31, 2026 that had been in a loss position for less than twelve months. Management does not have the intent to sell any of these securities and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost. The fair value is expected to recover as the securities approach their maturity date or repricing date or if market yields for such investments decline. Accordingly, as of March 31, 2026, management believes that the unrealized losses detailed in the previous table are due to noncredit-related factors, primarily changes in interest rates and other market conditions, and therefore no losses have been recognized in the Company's Consolidated Statements of Income.

The amortized cost and estimated fair values of available for sale and held to maturity debt securities at March 31, 2026, are distributed by contractual maturity as shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.


(In Thousands)	Amortized Cost	Fair Value
March 31, 2026
U.S. Treasury and government sponsored entities
Within 1 year	$178,702	$177,310
1-5 years	194,866	194,828
5-10 years	9,739	9,882
Total	$383,307	$382,020
U.S. Agency mortgage-backed securities


5-10 years	$4,706	$4,708

Total	$4,706	$4,708
Corporate bonds

1-5 years	$20,001	$19,978
5-10 years	16,750	15,684
Total	$36,751	$35,662
Collateralized loan obligations

5-10 years	$7,728	$7,739
Over 10 years	19,000	19,002
Total	$26,728	$26,741


	Three Months Ended March 31,
(In Thousands)	2026	2025
U.S. Treasury and government sponsored entities	$2,615	$2,324
U.S. Agency mortgage-backed securities	58	4
Other	332	624
Total taxable interest income	$3,005	$2,952

Total tax-exempt interest income	$—	$—
Total	$3,005	$2,952