v3.26.1
Securities (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Debt Securities, Available-for-Sale
The carrying amount of available-for-sale (“AFS”) securities and their approximate fair values at March 31, 2026, and December 31, 2025, are summarized as follows (in thousands):
March 31, 2026
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Securities Available-for-Sale
U.S. Treasuries and government agencies$158,733 $— $9,270 $149,463 
Obligations of states and municipalities1,054,158 1,868 65,757 990,269 
Residential mortgage backed - agency60,008 357 2,990 57,375 
Residential mortgage backed - non-agency379,401 1,097 8,012 372,486 
Commercial mortgage backed - agency72,465 29 810 71,684 
Commercial mortgage backed - non-agency100,064 282 1,969 98,377 
Asset-backed50,732 111 543 50,300 
Other36,954 186 1,057 36,083 
Total$1,912,515 $3,930 $90,408 $1,826,037 
December 31, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Securities Available-for-Sale
U.S. Treasuries and government agencies$159,088 $— $8,964 $150,124 
Obligations of states and municipalities977,104 5,414 59,944 922,574 
Residential mortgage backed - agency57,731 464 2,810 55,385 
Residential mortgage backed - non-agency221,443 1,860 5,211 218,092 
Commercial mortgage backed - agency74,253 250 607 73,896 
Commercial mortgage backed - non-agency112,082 584 1,557 111,109 
Asset-backed53,954 89 577 53,466 
Other32,162 158 1,012 31,308 
Total$1,687,817 $8,819 $80,682 $1,615,954 
The maturities of AFS securities at March 31, 2026, were as follows (in thousands): (Expected maturities of securities not due at a single maturity date are based on average life at estimated prepayment speed. Expected maturities may differ from
contractual maturities because borrowers have the right to call or prepay some obligations with or without call or prepayment penalties).
March 31, 2026
Amortized Cost
One Year or LessOne to Five YearsFive to Ten YearsAfter Ten YearsTotal
Securities Available-for-Sale
U.S. Treasuries and government agencies$— $158,733 $— $— $158,733 
Obligations of states and municipalities6,000 273,806 543,525 230,827 1,054,158 
Residential mortgage backed - agency— 25,872 26,284 7,852 60,008 
Residential mortgage backed - non-agency2,014 82,568 267,098 27,721 379,401 
Commercial mortgage backed - agency— 46,711 25,754 — 72,465 
Commercial mortgage backed - non-agency7,162 66,128 26,774 — 100,064 
Asset-backed2,610 33,268 14,854 — 50,732 
Other— 2,811 25,034 9,109 36,954 
Total$17,786 $689,897 $929,323 $275,509 $1,912,515 
March 31, 2026
Fair Value
One Year or LessOne to Five YearsFive to Ten YearsAfter Ten YearsTotal
Securities Available-for-Sale
U.S. Treasuries and government agencies$— $149,463 $— $— $149,463 
Obligations of states and municipalities5,982 261,801 514,455 208,031 990,269 
Residential mortgage backed - agency— 25,920 23,350 8,105 57,375 
Residential mortgage backed - non-agency2,000 80,279 262,595 27,612 372,486 
Commercial mortgage backed - agency— 46,197 25,487 — 71,684 
Commercial mortgage backed - non-agency7,108 64,213 27,056 — 98,377 
Asset-backed2,599 32,994 14,707 — 50,300 
Other— 2,888 24,243 8,952 36,083 
Total$17,689 $663,755 $891,893 $252,700 $1,826,037 
Schedule of Realized Gain (Loss)
The proceeds from sales, calls, and maturities of debt securities available-for-sale, including principal payments received, and the related gross gains and losses realized, for the three months ended March 31, 2026, and March 31, 2025, were as follows (in thousands):
Proceeds fromGross realized
Three Months Ended March 31,SalesCalls and maturitiesPrincipal PaymentsGainsLosses
2026$65,418 $11,215 $19,142 $2,004 $205 
2025— 10,867 39,506 1 — 
Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
AFS securities in a continuous unrealized loss position for less than twelve months and more than twelve months are as follows (in thousands):
March 31, 2026
Less Than Twelve MonthsMore Than Twelve Months
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesTotal Unrealized Losses
Securities Available-for-Sale
U.S. Treasuries and government agencies$— $— $149,463 $9,270 $9,270 
Obligations of states and municipalities311,372 5,567 494,147 60,190 65,757 
Residential mortgage backed - agency20,341 98 19,335 2,892 2,990 
Residential mortgage backed - non-agency180,092 2,877 82,348 5,135 8,012 
Commercial mortgage backed - agency45,025 373 25,202 437 810 
Commercial mortgage backed - non-agency45,095 485 21,778 1,484 1,969 
Asset-backed13,342 47 25,103 496 543 
Other— — 22,271 1,057 1,057 
Total$615,267 $9,447 $839,647 $80,961 $90,408 
December 31, 2025
Less Than Twelve MonthsMore Than Twelve Months
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesTotal Unrealized Losses
Securities Available-for-Sale
U.S. Treasuries and government agencies$— $— $150,124 $8,964 $8,964 
Obligations of states and municipalities134,143 1,852 513,623 58,092 59,944 
Residential mortgage backed - agency4,461 4 24,832 2,806 2,810 
Residential mortgage backed - non-agency11,545 17 85,750 5,194 5,211 
Commercial mortgage backed - agency14,987 93 26,032 514 607 
Commercial mortgage backed - non-agency29,730 131 30,175 1,426 1,557 
Asset-backed14,531 38 27,750 539 577 
Other— — 22,288 1,012 1,012 
Total$209,397 $2,135 $880,574 $78,547 $80,682