Investment Securities (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Available For Sale, Held-to-Maturity, and Restricted Equity Securities |
The following table summarizes the amortized cost and estimated fair value of investment securities at March 31, 2026: | | | | | | | | | | | | | | | | Amortized
Cost | Unrealized Gains | Unrealized Losses | Fair Value (Estimated) | | Securities available for sale | | | | | | U.S. Treasury & Agency securities | $ | 23,045,000 | | $ | — | | $ | (5,087,000) | | $ | 17,958,000 | | | Mortgage-backed securities | 236,884,000 | | 210,000 | | (30,780,000) | | 206,314,000 | | | State and political subdivisions | 36,461,000 | | — | | (5,861,000) | | 30,600,000 | | | Asset-backed securities | 1,903,000 | | 13,000 | | — | | 1,916,000 | | | | | | | | $ | 298,293,000 | | $ | 223,000 | | $ | (41,728,000) | | $ | 256,788,000 | | | Securities to be held to maturity | | | | | | U.S. Treasury & Agency securities | $ | 38,100,000 | | $ | — | | $ | (8,325,000) | | $ | 29,775,000 | | | Mortgage-backed securities | 47,634,000 | | 72,000 | | (8,975,000) | | 38,731,000 | | | State and political subdivisions | 247,468,000 | | 71,000 | | (27,768,000) | | 219,771,000 | | | | | | | | Corporate securities | 21,000,000 | | 76,000 | | (677,000) | | 20,399,000 | | | $ | 354,202,000 | | $ | 219,000 | | $ | (45,745,000) | | $ | 308,676,000 | | | Less allowance for credit losses | (145,000) | | — | | — | | — | | | Net securities to be held to maturity | $ | 354,057,000 | | $ | 219,000 | | $ | (45,745,000) | | $ | 308,676,000 | | | Restricted equity securities | | | | | | Federal Home Loan Bank Stock | $ | 7,277,000 | | $ | — | | $ | — | | $ | 7,277,000 | | | Federal Reserve Bank Stock | 1,037,000 | | — | | — | | 1,037,000 | | | $ | 8,314,000 | | $ | — | | $ | — | | $ | 8,314,000 | |
The following table summarizes the amortized cost and estimated fair value of investment securities at December 31, 2025: | | | | | | | | | | | | | | | | Amortized
Cost | Unrealized Gains | Unrealized Losses | Fair Value (Estimated) | | Securities available for sale | | | | | | U.S. Treasury & Agency securities | $ | 23,045,000 | | $ | — | | $ | (4,973,000) | | $ | 18,072,000 | | | Mortgage-backed securities | 240,166,000 | | 410,000 | | (30,142,000) | | 210,434,000 | | | State and political subdivisions | 38,953,000 | | 26,000 | | (4,989,000) | | 33,990,000 | | | Asset-backed securities | 1,989,000 | | 10,000 | | (15,000) | | 1,984,000 | | | | | | | | $ | 304,153,000 | | $ | 446,000 | | $ | (40,119,000) | | $ | 264,480,000 | | | Securities to be held to maturity | | | | | | U.S. Treasury & Agency securities | $ | 38,100,000 | | $ | — | | $ | (8,221,000) | | $ | 29,879,000 | | | Mortgage-backed securities | 48,566,000 | | 116,000 | | (8,924,000) | | 39,758,000 | | | State and political subdivisions | 248,408,000 | | 161,000 | | (22,972,000) | | 225,597,000 | | | | | | | | Corporate securities | 21,000,000 | | 52,000 | | (804,000) | | 20,248,000 | | | $ | 356,074,000 | | $ | 329,000 | | $ | (40,921,000) | | $ | 315,482,000 | | | Less allowance for credit losses | (146,000) | | — | | — | | — | | | Net securities to be held to maturity | $ | 355,928,000 | | $ | 329,000 | | $ | (40,921,000) | | $ | 315,482,000 | | | Restricted equity securities | | | | | | Federal Home Loan Bank Stock | $ | 7,238,000 | | $ | — | | $ | — | | $ | 7,238,000 | | | Federal Reserve Bank Stock | 1,037,000 | | — | | — | | 1,037,000 | | | $ | 8,275,000 | | $ | — | | $ | — | | $ | 8,275,000 | |
The following table summarizes the amortized cost and estimated fair value of investment securities at March 31, 2025: | | | | | | | | | | | | | | | | Amortized
Cost | Unrealized Gains | Unrealized Losses | Fair Value (Estimated) | | Securities available for sale | | | | | | U.S. Treasury & Agency securities | $ | 24,543,000 | | $ | — | | $ | (5,593,000) | | $ | 18,950,000 | | | Mortgage-backed securities | 262,912,000 | | 381,000 | | (36,416,000) | | 226,877,000 | | | State and political subdivisions | 40,130,000 | | — | | (7,368,000) | | 32,762,000 | | | Asset-backed securities | 2,168,000 | | 13,000 | | (6,000) | | 2,175,000 | | | | | | | | $ | 329,753,000 | | $ | 394,000 | | $ | (49,383,000) | | $ | 280,764,000 | | | Securities to be held to maturity | | | | | | U.S. Treasury & Agency securities | $ | 38,100,000 | | $ | — | | $ | (8,904,000) | | $ | 29,196,000 | | | Mortgage-backed securities | 51,600,000 | | 52,000 | | (10,402,000) | | 41,250,000 | | | State and political subdivisions | 251,818,000 | | 38,000 | | (34,924,000) | | 216,932,000 | | | Corporate securities | 27,250,000 | | — | | (1,840,000) | | 25,410,000 | | | $ | 368,768,000 | | $ | 90,000 | | $ | (56,070,000) | | $ | 312,788,000 | | | Less allowance for credit losses | (197,000) | | — | | — | | — | | | Net securities to be held to maturity | $ | 368,571,000 | | $ | 90,000 | | $ | (56,070,000) | | $ | 312,788,000 | | | Restricted equity securities | | | | | | Federal Home Loan Bank Stock | $ | 6,472,000 | | $ | — | | $ | — | | $ | 6,472,000 | | | Federal Reserve Bank Stock | 1,037,000 | | — | | — | | 1,037,000 | | | $ | 7,509,000 | | $ | — | | $ | — | | $ | 7,509,000 | |
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| Schedule of Contractual Maturities of Investment Securities |
The following table summarizes the contractual maturities of investment securities at March 31, 2026: | | | | | | | | | | | | | | | | Securities available for sale | Securities to be held to maturity | | Amortized
Cost | Fair Value (Estimated) | Amortized
Cost | Fair Value (Estimated) | | Due in 1 year or less | $ | 90,000 | | $ | 90,000 | | $ | 1,733,000 | | $ | 1,730,000 | | | Due in 1 to 5 years | 7,854,000 | | 6,964,000 | | 35,943,000 | | 34,290,000 | | | Due in 5 to 10 years | 20,725,000 | | 18,949,000 | | 106,371,000 | | 100,124,000 | | | Due after 10 years | 269,624,000 | | 230,785,000 | | 210,155,000 | | 172,532,000 | | | | | | | | $ | 298,293,000 | | $ | 256,788,000 | | $ | 354,202,000 | | $ | 308,676,000 | |
The following table summarizes the contractual maturities of investment securities at December 31, 2025: | | | | | | | | | | | | | | | | Securities available for sale | Securities to be held to maturity | | Amortized
Cost | Fair Value (Estimated) | Amortized
Cost | Fair Value (Estimated) | | Due in 1 year or less | $ | 92,000 | | $ | 92,000 | | $ | 1,729,000 | | $ | 1,725,000 | | | Due in 1 to 5 years | 7,413,000 | | 6,584,000 | | 34,803,000 | | 33,363,000 | | | Due in 5 to 10 years | 20,390,000 | | 18,693,000 | | 98,390,000 | | 94,855,000 | | | Due after 10 years | 276,258,000 | | 239,111,000 | | 221,152,000 | | 185,539,000 | | | | | | | | $ | 304,153,000 | | $ | 264,480,000 | | $ | 356,074,000 | | $ | 315,482,000 | |
The following table summarizes the contractual maturities of investment securities at March 31, 2025: | | | | | | | | | | | | | | | | Securities available for sale | Securities to be held to maturity | | Amortized
Cost | Fair Value (Estimated) | Amortized
Cost | Fair Value (Estimated) | | Due in 1 year or less | $ | 1,514,000 | | $ | 1,499,000 | | $ | 2,704,000 | | $ | 2,714,000 | | | Due in 1 to 5 years | 261,000 | | 260,000 | | 24,370,000 | | 23,098,000 | | | Due in 5 to 10 years | 29,329,000 | | 25,758,000 | | 104,094,000 | | 96,115,000 | | | Due after 10 years | 298,649,000 | | 253,247,000 | | 237,600,000 | | 190,861,000 | | | | | | | | $ | 329,753,000 | | $ | 280,764,000 | | $ | 368,768,000 | | $ | 312,788,000 | |
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| Schedule of Securities Gains and Losses |
The following table shows securities gains and losses on AFS securities for the three months ended March 31, 2026 and 2025: | | | | | | | | | | | | For the three months ended March 31, | | | 2026 | 2025 | | | | Proceeds from sales of securities | $ | 1,410,000 | | $ | — | | | | | Gross realized gains | 12,000 | | — | | | | | | | | | | Net gain | $ | 12,000 | | $ | — | | | | | Related income taxes | $ | 3,000 | | $ | — | | | |
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| Schedule of Temporary Impairment Losses |
The following table summarizes AFS debt securities in an unrealized loss position for which an ACL has not been recorded at March 31, 2026, aggregated by major security type and length of time in a continuous unrealized loss position: | | | | | | | | | | | | | | | | | | | | | | Less than 12 months | 12 months or more | Total | | Fair Value (Estimated) | Unrealized Losses | Fair Value (Estimated) | Unrealized Losses | Fair Value (Estimated) | Unrealized Losses | | U.S. Treasury & Agency securities | $ | — | | $ | — | | $ | 17,958,000 | | $ | (5,087,000) | | $ | 17,958,000 | | $ | (5,087,000) | | | Mortgage-backed securities | 13,303,000 | | (96,000) | | 171,539,000 | | (30,684,000) | | 184,842,000 | | (30,780,000) | | | State and political subdivisions | 7,680,000 | | (200,000) | | 22,830,000 | | (5,661,000) | | 30,510,000 | | (5,861,000) | | | Asset-backed securities | — | | — | | — | | — | | — | | — | | | | | | | | | | $ | 20,983,000 | | $ | (296,000) | | $ | 212,327,000 | | $ | (41,432,000) | | $ | 233,310,000 | | $ | (41,728,000) | |
The following table summarizes AFS debt securities in an unrealized loss position for which an ACL has not been recorded at December 31, 2025 aggregated by major security type and length of time in a continuous unrealized loss position: | | | | | | | | | | | | | | | | | | | | | | Less than 12 months | 12 months or more | Total | | Fair Value (Estimated) | Unrealized Losses | Fair Value (Estimated) | Unrealized Losses | Fair Value (Estimated) | Unrealized Losses | | U.S. Treasury & Agency securities | $ | — | | $ | — | | $ | 18,072,000 | | $ | (4,973,000) | | $ | 18,072,000 | | $ | (4,973,000) | | | Mortgage-backed securities | 1,732,000 | | (4,000) | | 177,093,000 | | (30,138,000) | | 178,825,000 | | (30,142,000) | | | State and political subdivisions | — | | — | | 30,672,000 | | (4,989,000) | | 30,672,000 | | (4,989,000) | | | Asset-backed securities | — | | — | | 1,096,000 | | (15,000) | | 1,096,000 | | (15,000) | | | | | | | | | | $ | 1,732,000 | | $ | (4,000) | | $ | 226,933,000 | | $ | (40,115,000) | | $ | 228,665,000 | | $ | (40,119,000) | |
The following table summarizes AFS debt securities in an unrealized loss position for which an ACL has not been recorded at March 31, 2025 aggregated by major security type and length of time in a continuous unrealized loss position: | | | | | | | | | | | | | | | | | | | | | | Less than 12 months | 12 months or more | Total | | Fair Value (Estimated) | Unrealized Losses | Fair Value (Estimated) | Unrealized Losses | Fair Value (Estimated) | Unrealized Losses | | U.S. Treasury & Agency securities | $ | — | | $ | — | | $ | 18,950,000 | | $ | (5,593,000) | | $ | 18,950,000 | | $ | (5,593,000) | | | Mortgage-backed securities | 8,974,000 | | (105,000) | | 185,973,000 | | (36,311,000) | | 194,947,000 | | (36,416,000) | | | State and political subdivisions | 4,862,000 | | (172,000) | | 27,720,000 | | (7,196,000) | | 32,582,000 | | (7,368,000) | | | Asset-backed securities | 1,173,000 | | (6,000) | | — | | — | | 1,173,000 | | (6,000) | | | | | | | | | | $ | 15,009,000 | | $ | (283,000) | | $ | 232,643,000 | | $ | (49,100,000) | | $ | 247,652,000 | | $ | (49,383,000) | |
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| Schedule of Activity in the ACL for Held-to-maturity Debt Securities |
The following tables present the activity in the ACL for HTM debt securities by major security type for the three months ended March 31, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | For the three months ended | | March 31, 2026 | March 31, 2025 | | State and Political Subdivisions | Corporate Securities | Total | State and Political Subdivisions | Corporate Securities | Total | | Allowance for credit losses: | | | | | | | | Beginning balance | $ | 68,000 | | $ | 78,000 | | $ | 146,000 | | $ | 80,000 | | $ | 116,000 | | $ | 196,000 | | Credit loss (reduction) expense | (1,000) | | — | | (1,000) | | 1,000 | | — | | 1,000 | | | Securities charged-off | — | | — | | — | | — | | — | | — | | | Recoveries | — | | — | | — | | — | | — | | — | | | Total ending allowance balance | $ | 67,000 | | $ | 78,000 | | $ | 145,000 | | $ | 81,000 | | $ | 116,000 | | $ | 197,000 | |
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