v3.26.1
Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2026
Investment Securities [Abstract]  
Schedule of Available-for-Sale Securities Reconciliation
Below is an analysis of the amortized cost and estimated fair values of securities available for sale at:
 March 31, 2026December 31, 2025
 Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value		Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
 (dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential$2,543 $20 $(152)$2,411 $2,638 $23 $(165)$2,496 
Mortgage-Backed Securities – Commercial709,359 1,647 (45,665)665,341 701,572 3,788 (43,671)661,689 
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential367,198 679 (42,712)325,165 336,493 1,087 (42,057)295,523 
Other Government-Sponsored Enterprises1,000 — (9)991 1,000 — (16)984 
Obligations of States and Political Subdivisions7,560 — (623)6,937 7,560 1 (590)6,971 
Corporate Securities42,250 534 (1,230)41,554 46,969 782 (1,220)46,531 
Total Debt Securities Available for Sale$1,129,910 $2,880 $(90,391)$1,042,399 $1,096,232 $5,681 $(87,719)$1,014,194 
Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale
The amortized cost and estimated fair value of debt securities available for sale at March 31, 2026, by contractual maturity, are shown below.
Amortized
Cost		Estimated
Fair Value
 (dollars in thousands)
Due within 1 year$1,000 $991 
Due after 1 but within 5 years30,298 29,805 
Due after 5 but within 10 years19,512 18,686 
Due after 10 years— — 
50,810 49,482 
Mortgage-Backed Securities (a)1,079,100 992,917 
Total Debt Securities$1,129,910 $1,042,399 
(a)  Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. Mortgage-Backed Securities include an amortized cost of $711.9 million and a fair value of $667.8 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $367.2 million and a fair value of $325.2 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac 		[1]
Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale
Proceeds from sales, gross gains (losses) realized on sales, calls and maturities related to securities held to maturity and securities available for sale were as follows for the three months ended March 31:
20262025
 (dollars in thousands)
Proceeds from sales$— $48,519 
Gross gains (losses) realized:
Sales transactions:
Gross gains$— $— 
Gross losses— (5,142)
— (5,142)
Maturities
Gross gains229 — 
Gross losses— — 
229 — 
Net gains (losses)$229 $(5,142)
Debt Securities, Held-to-maturity [Table Text Block]
Below is an analysis of the amortized cost and fair values of debt securities held to maturity at:
 March 31, 2026December 31, 2025
 Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value		Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
 (dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential$1,324 $— $(149)$1,175 $1,379 $— $(144)$1,235 
Mortgage-Backed Securities- Commercial155,846 311 (12,938)143,219 163,625 606 (12,320)151,911 
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential373,294 161 (33,955)339,500 307,676 485 (33,395)274,766 
Other Government-Sponsored Enterprises23,283 — (2,807)20,476 23,199 — (2,735)20,464 
Obligations of States and Political Subdivisions22,739 — (1,314)21,425 22,743 — (1,250)21,493 
Debt Securities Issued by Foreign Governments800 — (3)797 800 — (4)796 
Total Securities Held to Maturity$577,286 $472 $(51,166)$526,592 $519,422 $1,091 $(49,848)$470,665 
Schedule of Held-to-Maturity Securities by Maturity [Table Text Block]
The amortized cost and estimated fair value of debt securities held to maturity at March 31, 2026, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties.
Amortized
Cost		Estimated
Fair Value
 (dollars in thousands)
Due within 1 year$2,005 $1,996 
Due after 1 but within 5 years17,735 16,883 
Due after 5 but within 10 years26,518 23,365 
Due after 10 years564 454 
46,822 42,698 
Mortgage-Backed Securities (a)530,464 483,894 
Total Debt Securities$577,286 $526,592 
(a)Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. Mortgage-Backed Securities include an amortized cost of $157.2 million and a fair value of $144.4 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $373.3 million and a fair value of $339.5 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.
 [2]
Schedule of Temporary Impairment Losses, Investments
The following table presents the gross unrealized losses and estimated fair values at March 31, 2026, for available for sale securities for which an allowance for credit losses has not been recorded and held to maturity securities by investment category and time frame for which securities have been in a continuous unrealized loss position:
 
 Less Than 12 Months12 Months or MoreTotal
 Estimated
Fair Value		Gross
Unrealized
Losses		Estimated
Fair Value		Gross
Unrealized
Losses		Estimated
Fair Value		Gross
Unrealized
Losses
 (dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential$— $— $2,720 $(301)$2,720 $(301)
Mortgage-Backed Securities – Commercial227,955 (1,751)244,929 (56,852)472,884 (58,603)
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential75,998 (896)425,533 (75,771)501,531 (76,667)
Other Government-Sponsored Enterprises— — 21,467 (2,816)21,467 (2,816)
Obligations of States and Political Subdivisions2,738 (11)24,624 (1,926)27,362 (1,937)
Debt Securities Issued by Foreign Governments— — 597 (3)597 (3)
Corporate Securities— — 22,590 (1,230)22,590 (1,230)
Total Securities$306,691 $(2,658)$742,460 $(138,899)$1,049,151 $(141,557)
    
At March 31, 2026, fixed income securities issued by the U.S. Government and U.S. Government-sponsored enterprises comprised 95% of the estimated fair value for the total portfolio and 98% of total unrealized losses. All unrealized losses are the
result of changes in market interest rates. At March 31, 2026, there are 231 debt securities in the portfolio, with 154 debt securities in an unrealized loss position.
The following table presents the gross unrealized losses and estimated fair values at December 31, 2025 by investment category and the time frame for which securities have been in a continuous unrealized loss position:
 Less Than 12 Months12 Months or MoreTotal
 Estimated
Fair Value		Gross
Unrealized
Losses		Estimated
Fair Value		Gross
Unrealized
Losses		Estimated
Fair Value		Gross
Unrealized
Losses
 (dollars in thousands)
Obligations of U.S. Government Agencies:
Mortgage-Backed Securities – Residential$— $— $2,789 $(309)$2,789 $(309)
Mortgage-Backed Securities - Commercial77,195 (509)270,142 (55,482)347,337 (55,991)
Obligations of U.S. Government-Sponsored Enterprises:
Mortgage-Backed Securities – Residential19,924 (95)438,740 (75,357)458,664 (75,452)
Other Government-Sponsored Enterprises— — 21,448 (2,751)21,448 (2,751)
Obligation of States and Political Subdivisions— — 26,563 (1,840)26,563 (1,840)
Debt Securities Issued by Foreign Governments— — 596 (4)596 (4)
Corporate Securities5,492 (3)22,845 (1,217)28,337 (1,220)
Total Securities$102,611 $(607)$783,123 $(136,960)$885,734 $(137,567)
[1] Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. Mortgage-Backed Securities include an amortized cost of $711.9 million and a fair value of $667.8 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $367.2 million and a fair value of $325.2 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.
[2] Mortgage-backed and collateralized mortgage securities, which have prepayment provisions, are not assigned to maturity categories due to fluctuations in their prepayment speeds. Mortgage-Backed Securities include an amortized cost of $157.2 million and a fair value of $144.4 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $373.3 million and a fair value of $339.5 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac.