Investment Securities (Tables)

6 Months Ended

Jun. 30, 2026

The following table summarizes investment securities (in thousands):


	June 30, 2026		December 31, 2025
Trading securities — at fair value:
U.S. treasury obligations	$	140,031	$	40,029
Mutual funds	45,194		33,559

Equity securities	2,742		2,505
Debt securities	39		15
Total trading securities	$	188,006	$	76,108
Held-to-maturity securities — at amortized cost:
U.S. government notes	$	15,493	$	15,420
Total held-to-maturity securities	$	15,493	$	15,420
Total investment securities	$	203,499	$	91,528

At June 30, 2026, the held-to-maturity securities were scheduled to mature as follows (in thousands):


	Within one year		After one but within five years		After five but within ten years		After ten years		Total
U.S. government notes — at amortized cost	$	5,428	$	10,065	$	—	$	—	$	15,493
U.S. government notes — at fair value	$	5,446	$	9,996	$	—	$	—	$	15,442