Securities (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Amortized Cost and Estimated Fair Value of Securities |
The following table is a summary of the amortized cost and estimated fair value, including the allowance for credit losses and gross unrealized gains and losses, of available for sale, held to maturity and securities carried at fair value through income for the dates indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands)
June 30, 2026 | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Fair
Value | | Allowance for Credit Losses | | Net Carrying Amount | | | | Available for sale: | | | | | | | | | | | | | | | State and municipal securities | $ | 321,480 | | | $ | 2,165 | | | $ | (31,411) | | | $ | 292,234 | | | $ | — | | | $ | 292,234 | | | | | Corporate bonds | 50,222 | | | 387 | | | (1,352) | | | 49,257 | | | — | | | 49,257 | | | | | U.S. treasury and government agency securities | 13,699 | | | — | | | (716) | | | 12,983 | | | — | | | 12,983 | | | | | Commercial mortgage-backed securities | 19,935 | | | — | | | (1,760) | | | 18,175 | | | — | | | 18,175 | | | | | Residential mortgage-backed securities | 472,608 | | | 1,634 | | | (30,719) | | | 443,523 | | | — | | | 443,523 | | | | | Commercial collateralized mortgage obligations | 88,501 | | | 94 | | | (1,379) | | | 87,216 | | | — | | | 87,216 | | | | | Residential collateralized mortgage obligations | 253,032 | | | 608 | | | (14,805) | | | 238,835 | | | — | | | 238,835 | | | | | | | | | | | | | | | | | | | Total | $ | 1,219,477 | | | $ | 4,888 | | | $ | (82,142) | | | $ | 1,142,223 | | | $ | — | | | $ | 1,142,223 | | | | | Held to maturity: | | | | | | | | | | | | | | | State and municipal securities | $ | 10,595 | | | $ | — | | | $ | (1,521) | | | $ | 9,074 | | | $ | (38) | | | $ | 10,557 | | | | | Securities carried at fair value through income: | | | | | | | | | | | | | | State and municipal securities(1) | $ | 5,870 | | | $ | — | | | $ | — | | | $ | 5,872 | | | $ | — | | | $ | 5,872 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | | | | | | | | | | | | | Available for sale: | | | | | | | | | | | | | | | State and municipal securities | $ | 323,255 | | | $ | 1,183 | | | $ | (29,554) | | | $ | 294,884 | | | $ | — | | | $ | 294,884 | | | | | Corporate bonds | 57,129 | | | 367 | | | (1,792) | | | 55,704 | | | — | | | 55,704 | | | | | U.S. treasury and government agency securities | 3,832 | | | 1 | | | (693) | | | 3,140 | | | — | | | 3,140 | | | | | Commercial mortgage-backed securities | 16,982 | | | 21 | | | (1,717) | | | 15,286 | | | — | | | 15,286 | | | | | Residential mortgage-backed securities | 478,875 | | | 4,539 | | | (28,929) | | | 454,485 | | | — | | | 454,485 | | | | | Commercial collateralized mortgage obligations | 83,143 | | | 712 | | | (1,062) | | | 82,793 | | | — | | | 82,793 | | | | | Residential collateralized mortgage obligations | 222,893 | | | 1,085 | | | (13,094) | | | 210,884 | | | — | | | 210,884 | | | | | | | | | | | | | | | | | | | Total | $ | 1,186,109 | | | $ | 7,908 | | | $ | (76,841) | | | $ | 1,117,176 | | | $ | — | | | $ | 1,117,176 | | | | | Held to maturity: | | | | | | | | | | | | | | | State and municipal securities | $ | 10,600 | | | $ | — | | | $ | (993) | | | $ | 9,607 | | | $ | (41) | | | $ | 10,559 | | | | | Securities carried at fair value through income: | | | | | | | | | | | | | | State and municipal securities(1) | $ | 6,200 | | | $ | — | | | $ | — | | | $ | 6,215 | | | $ | — | | | $ | 6,215 | | | |
________________________ (1)Securities carried at fair value through income have no unrealized gains or losses at the consolidated balance sheet dates as all changes in value have been recognized in the consolidated statements of income. See Note 5 — Fair Value of Financial Instruments for more information.
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| Schedule of Unrealized Losses |
Securities with unrealized losses at June 30, 2026, and December 31, 2025, aggregated by investment category and those individual securities that have been in a continuous unrealized loss position for less than 12 months, and for 12 months or more, were as follows. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 Months | | 12 Months or More | | Total | (Dollars in thousands) June 30, 2026 | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | | Fair Value | | Unrealized Loss | | Available for sale: | | | | | | | | | | | | | State and municipal securities | $ | 16,127 | | | $ | (235) | | | $ | 201,546 | | | $ | (31,176) | | | $ | 217,673 | | | $ | (31,411) | | | Corporate bonds | 10,654 | | | (58) | | | 16,535 | | | (1,294) | | | 27,189 | | | (1,352) | | | U.S. treasury and government agency securities | 9,905 | | | (95) | | | 3,046 | | | (621) | | | 12,951 | | | (716) | | | Commercial mortgage-backed securities | 4,500 | | | (51) | | | 13,675 | | | (1,709) | | | 18,175 | | | (1,760) | | | Residential mortgage-backed securities | 62,526 | | | (856) | | | 218,290 | | | (29,863) | | | 280,816 | | | (30,719) | | Commercial collateralized mortgage obligations | 48,533 | | | (259) | | | 12,136 | | | (1,120) | | | 60,669 | | | (1,379) | | Residential collateralized mortgage obligations | 89,732 | | | (1,178) | | | 87,415 | | | (13,627) | | | 177,147 | | | (14,805) | | | | | | | | | | | | | | | Total | $ | 241,977 | | | $ | (2,732) | | | $ | 552,643 | | | $ | (79,410) | | | $ | 794,620 | | | $ | (82,142) | | | Held to maturity: | | | | | | | | | | | | | State and municipal securities | $ | — | | | $ | — | | | $ | 9,074 | | | $ | (1,521) | | | $ | 9,074 | | | $ | (1,521) | | | | | | | | | | | | | | | December 31, 2025 | | | | | | | | | | | | | Available for sale: | | | | | | | | | | | | | State and municipal securities | $ | 17,469 | | | $ | (158) | | | $ | 216,568 | | | $ | (29,396) | | | $ | 234,037 | | | $ | (29,554) | | | Corporate bonds | 4,006 | | | (29) | | | 33,324 | | | (1,763) | | | 37,330 | | | (1,792) | | | U.S. treasury and government agency securities | 117 | | | (1) | | | 2,973 | | | (692) | | | 3,090 | | | (693) | | | Commercial mortgage-backed securities | — | | | — | | | 13,797 | | | (1,717) | | | 13,797 | | | (1,717) | | | Residential mortgage-backed securities | 20,436 | | | (255) | | | 240,923 | | | (28,674) | | | 261,359 | | | (28,929) | | | Commercial collateralized mortgage obligations | — | | | — | | | 15,180 | | | (1,062) | | | 15,180 | | | (1,062) | | | Residential collateralized mortgage obligations | — | | | — | | | 93,659 | | | (13,094) | | | 93,659 | | | (13,094) | | | | | | | | | | | | | | | Total | $ | 42,028 | | | $ | (443) | | | $ | 616,424 | | | $ | (76,398) | | | $ | 658,452 | | | $ | (76,841) | | | Held to maturity: | | | | | | | | | | | | | State and municipal securities | $ | — | | | $ | — | | | $ | 9,607 | | | $ | (993) | | | $ | 9,607 | | | $ | (993) | |
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| Schedule of Allowance for Credit Losses for Held-to-Maturity Debt Securities |
The following tables present the activity in the allowance for credit losses for held-to-maturity securities. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | Three Months Ended June 30, | | Six Months Ended June 30, | | | | Allowance for credit losses: | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | Beginning balance | $ | 40 | | | $ | 49 | | | $ | 41 | | | $ | 50 | | | | | | | | | Recovery for credit losses for held to maturity securities | (2) | | | (2) | | | (3) | | | (3) | | | | | | | | Balance at June 30, | $ | 38 | | | $ | 47 | | | $ | 38 | | | $ | 47 | | | | | | | |
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| Schedule of Proceeds from Sales of Securities Available for Sale and Gross Gains and Losses |
Proceeds from sales and calls, and related gross gains and losses of securities available for sale, are shown below. | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | | (Dollars in thousands) | 2026 | | 2025 | | | | | | | Proceeds from sales/calls | $ | 24,209 | | | $ | 214,979 | | | | | | | | Gross realized gains | 76 | | | 2 | | | | | | | | Gross realized losses | (75) | | | (14,450) | | | | | | |
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| Schedule of Securities Classified by Contractual Maturity |
The following table presents the amortized cost and fair value of securities available for sale and held to maturity at June 30, 2026, grouped by contractual maturity. Mortgage-backed securities, collateralized mortgage obligations and asset-backed securities, which do not have contractual payments due at a single maturity date, are shown separately. Actual maturities for mortgage-backed securities and collateralized mortgage obligations will differ from contractual maturities as a result of prepayments made on the underlying loans. | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | Held to Maturity | | Available for Sale | | June 30, 2026 | Amortized Cost | | Fair Value | | Amortized Cost | | Fair Value | | Due in one year or less | $ | — | | | $ | — | | | $ | 1,826 | | | $ | 1,818 | | | Due after one year through five years | 5,137 | | | 4,376 | | | 45,213 | | | 43,171 | | | Due after five years through ten years | 5,458 | | | 4,698 | | | 180,151 | | | 164,489 | | | Due after ten years | — | | | — | | | 158,211 | | | 144,996 | | | Commercial mortgage-backed securities | — | | | — | | | 19,935 | | | 18,175 | | | Residential mortgage-backed securities | — | | | — | | | 472,608 | | | 443,523 | | | Commercial collateralized mortgage obligations | — | | | — | | | 88,501 | | | 87,216 | | | Residential collateralized mortgage obligations | — | | | — | | | 253,032 | | | 238,835 | | | | | | | | | | | Total | $ | 10,595 | | | $ | 9,074 | | | $ | 1,219,477 | | | $ | 1,142,223 | |
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| Schedule of Securities Pledged as Collateral |
The following table presents carrying amounts of securities pledged as collateral for deposits and repurchase agreements at the periods presented. | | | | | | | | | | | | | | | (Dollars in thousands) | June 30, 2026 | | December 31, 2025 | | Carrying value of securities pledged to secure public deposits | $ | 387,402 | | | $ | 671,626 | | | Carrying value of securities pledged to repurchase agreements | 20,154 | | | 22,405 | |
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