Investment Securities (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Investment Securities |
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| Summary of available-for-sale securities |
Available-for-sale securities are summarized as follows as of the dates indicated: | | | | | | | | | | | | | | | June 30, 2026 | | | Amortized | | Gross | | Gross | | | | | | cost | | unrealized gains | | unrealized losses | | Fair value | U.S. Treasury securities | | $ | 53,576 | | $ | 110 | | $ | (11) | | $ | 53,675 | Mortgage-backed securities: | | | | | | | | | | | | | Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 219,693 | | | 140 | | | (18,698) | | | 201,135 | Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 376,163 | | | 112 | | | (45,803) | | | 330,472 | Other securities | | | 251 | | | — | | | — | | | 251 | Total investment securities available-for-sale | | $ | 649,683 | | $ | 362 | | $ | (64,512) | | $ | 585,533 |
| | | | | | | | | | | | | | | December 31, 2025 | | | Amortized | | Gross | | Gross | | | | | | cost | | unrealized gains | | unrealized losses | | Fair value | U.S. Treasury securities | | $ | 73,144 | | $ | 1,082 | | $ | — | | $ | 74,226 | Mortgage-backed securities: | | | | | | | | | | | | | Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 173,308 | | | 1,248 | | | (16,891) | | | 157,665 | Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 338,768 | | | 563 | | | (43,305) | | | 296,026 | Other securities | | | 722 | | | — | | | — | | | 722 | Total investment securities available-for-sale | | $ | 585,942 | | $ | 2,893 | | $ | (60,196) | | $ | 528,639 |
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| Summary of unrealized losses for available-for-sale securities |
The tables below summarize the available-for-sale securities with unrealized losses, along with the length of time they have been in an unrealized loss position, as of the dates shown: | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | | Less than 12 months | | 12 months or more | | Total | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | value | | losses | | value | | losses | | value | | losses | U.S. Treasury securities | | $ | 4,928 | | $ | (11) | | $ | — | | $ | — | | $ | 4,928 | | $ | (11) | Mortgage-backed securities: | | | | | | | | | | | | | | | | | | | Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 83,187 | | | (1,344) | | | 90,965 | | | (17,354) | | | 174,152 | | | (18,698) | Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 85,258 | | | (973) | | | 218,377 | | | (44,830) | | | 303,635 | | | (45,803) | Total | | $ | 173,373 | | $ | (2,328) | | $ | 309,342 | | $ | (62,184) | | $ | 482,715 | | $ | (64,512) |
| | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | Less than 12 months | | 12 months or more | | Total | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | value | | losses | | value | | losses | | value | | losses | Mortgage-backed securities: | | | | | | | | | | | | | | | | | | | Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | | $ | — | | $ | — | | $ | 96,937 | | $ | (16,891) | | $ | 96,937 | | $ | (16,891) | Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 2,546 | | | (5) | | | 232,742 | | | (43,300) | | | 235,288 | | | (43,305) | Total | | $ | 2,546 | | $ | (5) | | $ | 329,679 | | $ | (60,191) | | $ | 332,225 | | $ | (60,196) |
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| Summary of available-for-sale and held-to-maturity securities by maturity |
| | | | | | | | | | | June 30, 2026 | | | | | | | | | Weighted | | | Amortized cost | | Fair value | | average yield | U.S. Treasury securities | | | | | | | | | Within one year | | $ | 29,921 | | $ | 29,969 | | 4.23% | After one but within five years | | | 23,655 | | | 23,706 | | 4.30% | Total | | $ | 53,576 | | $ | 53,675 | | |
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| Summary of held-to-maturity securities |
Held-to-maturity investment securities are summarized as follows as of the dates indicated: | | | | | | | | | | | | | | | June 30, 2026 | | | | | | Gross | | Gross | | | | | | Amortized | | unrealized | | unrealized | | | | | | cost | | gains | | losses | | Fair value | Mortgage-backed securities: | | | | | | | | | | | | | Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 236,687 | | | 90 | | | (24,442) | | | 212,335 | Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 521,536 | | | 271 | | | (37,417) | | | 484,390 | Total investment securities held-to-maturity | | $ | 758,223 | | $ | 361 | | $ | (61,859) | | $ | 696,725 |
| | | | | | | | | | | | | | | December 31, 2025 | | | | | | Gross | | Gross | | | | | | Amortized | | unrealized | | unrealized | | | | | | cost | | gains | | losses | | Fair value | U.S. Treasury securities | | $ | 24,900 | | $ | — | | $ | (49) | | $ | 24,851 | Mortgage-backed securities: | | | | | | | | | | | | | Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 236,535 | | | 666 | | | (23,227) | | | 213,974 | Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 390,297 | | | 2,310 | | | (33,983) | | | 358,624 | Total investment securities held-to-maturity | | $ | 651,732 | | $ | 2,976 | | $ | (57,259) | | $ | 597,449 |
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| Summary of unrealized losses for held-to-maturity securities |
The held-to-maturity portfolio included 130 securities which were in an unrealized loss position as of June 30, 2026, compared to 92 securities at December 31, 2025. The tables below summarize the held-to-maturity securities with unrealized losses, along with the length of time they have been in an unrealized loss position, as of the dates shown: | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | | Less than 12 months | | 12 months or more | | Total | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | value | | losses | | value | | losses | | value | | losses | Mortgage-backed securities: | | | | | | | | | | | | | | | | | | | Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 39,556 | | | (380) | | | 152,564 | | | (24,062) | | | 192,120 | | | (24,442) | Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 252,108 | | | (2,923) | | | 134,688 | | | (34,494) | | | 386,796 | | | (37,417) | Total | | $ | 291,664 | | $ | (3,303) | | $ | 287,252 | | $ | (58,556) | | $ | 578,916 | | $ | (61,859) |
| | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | Less than 12 months | | 12 months or more | | Total | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | value | | losses | | value | | losses | | value | | losses | U.S. Treasury securities | | $ | — | | $ | — | | $ | 24,850 | | $ | (49) | | $ | 24,850 | | $ | (49) | Mortgage-backed securities: | | | | | | | | | | | | | | | | | | | Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 1,174 | | | (1) | | | 169,340 | | | (23,226) | | | 170,514 | | | (23,227) | Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | | | — | | | — | | | 144,208 | | | (33,983) | | | 144,208 | | | (33,983) | Total | | $ | 1,174 | | $ | (1) | | $ | 338,398 | | $ | (57,258) | | $ | 339,572 | | $ | (57,259) |
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| Summary of credit quality indicators, by amortized cost, of held-to-maturity securities |
The table below summarizes the credit quality indicators, by amortized cost, of held-to-maturity securities as of the dates shown: | | | | | | | | | June 30, 2026 | | December 31, 2025 | | | AA+ | | AA+ | U.S. Treasury securities | | $ | — | | $ | 24,900 | Mortgage-backed securities: | | | | | | | Residential mortgage pass-through securities issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 236,687 | | | 236,535 | Other residential MBS issued or guaranteed by U.S. government agencies or sponsored enterprises | | | 521,536 | | | 390,297 | Total investment securities held-to-maturity | | $ | 758,223 | | $ | 651,732 |
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