v3.26.1
INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Summary of available for sale and held to maturity investment securities
The following tables present the amortized cost, fair value and related ACL on available-for-sale ("AFS") and held-to-maturity ("HTM") investment securities as of June 30, 2026 and December 31, 2025 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses:
Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueACL
(dollars in thousands)
June 30, 2026
Available-for-sale:
Debt securities:
States and political subdivisions$140,397 $18 $(24,597)$115,818 $— 
Corporate securities10,000 18 (42)9,976 — 
U.S. Treasury and other government-sponsored entities and agencies96,442 170 (1,530)95,082 — 
Collateralized loan obligations103,671 37 (204)103,504 — 
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies469,152 1,066 (40,264)429,954 — 
Residential - Non-government agencies15,107 143 (786)14,464 — 
Commercial - U.S. government-sponsored entities and agencies77,808 209 (11,437)66,580 — 
Total available-for-sale investment securities$912,577 $1,661 $(78,860)$835,378 $— 

Amortized CostGross Unrecognized GainsGross Unrecognized LossesFair ValueACL
(dollars in thousands)
June 30, 2026
Held-to-maturity:
Debt securities:
States and political subdivisions$41,838 $— $(6,334)$35,504 $— 
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies503,377 51 (64,004)439,424 — 
Total held-to-maturity investment securities$545,215 $51 $(70,338)$474,928 $— 

Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueACL
(dollars in thousands)
December 31, 2025
Available-for-sale:
Debt securities:
States and political subdivisions$141,163 $55 $(24,177)$117,041 $— 
U.S. Treasury and other government-sponsored entities and agencies100,215 1,103 (1,293)100,025 — 
Collateralized loan obligations40,960 32 (165)40,827 — 
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies442,221 3,032 (38,200)407,053 — 
Residential - Non-government agencies15,935 150 (722)15,363 — 
Commercial - U.S. government-sponsored entities and agencies79,040 415 (11,552)67,903 — 
Total available-for-sale investment securities$819,534 $4,787 $(76,109)$748,212 $— 
Amortized CostGross Unrecognized GainsGross Unrecognized LossesFair ValueACL
(dollars in thousands)
December 31, 2025
Held-to-maturity:
Debt securities:
States and political subdivisions$41,925 $— $(7,226)$34,699 $— 
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies520,466 131 (59,451)461,146 — 
Total held-to-maturity investment securities$562,391 $131 $(66,677)$495,845 $— 
Schedule of amortized cost and estimated fair value of investment securities by contractual maturity
The amortized cost, estimated fair value and weighted average yield of the Company's AFS and HTM investment securities as of June 30, 2026, are presented below, grouped by contractual maturity. Expected maturities may differ from contractual maturities due to the issuer's option to call or prepay obligations, with or without penalties. Securities that are not due at a single maturity date, such as mortgage-backed securities and other asset-backed investments, are presented separately.

(dollars in thousands)Amortized CostFair Value
Weighted Average Yield (1)
June 30, 2026
Available-for-sale:
Debt securities:
Due in one year or less$1,388 $1,380 2.83 %
Due after one year through five years64,561 63,016 3.72 
Due after five years through ten years48,442 47,505 4.49 
Due after ten years132,448 108,975 2.65 
Collateralized loan obligations103,671 103,504 5.07 
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies469,152 429,954 3.05 
Residential - Non-government agencies15,107 14,464 4.62 
Commercial - U.S. government-sponsored entities and agencies77,808 66,580 2.75 
Total available-for-sale securities$912,577 $835,378 3.38 %
(dollars in thousands)Amortized CostFair Value
Weighted Average Yield (1)
June 30, 2026
Held-to-maturity:
Debt securities:
Due after ten years$41,838 $35,504 2.26 %
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies503,377 439,424 1.86 
Total held-to-maturity securities$545,215 $474,928 1.89 %
(1)Weighted-average yields are computed on an annual basis, and yields on tax-exempt obligations are computed on a taxable-equivalent basis using a federal statutory tax rate of 21%.
Schedule of investment securities in an unrealized loss position
The following tables summarize AFS and HTM investment securities that were in a loss position as of the dates presented. The data is aggregated by major security type and the length of time the securities have been in a continuous loss position.

There were a total of 194 and 179 AFS investment securities that were in an unrealized loss position, without an ACL, as of June 30, 2026 and December 31, 2025, respectively. There were a total of 81 and 81 HTM investment securities that were in an unrecognized loss position, without an ACL, as of June 30, 2026 and December 31, 2025, respectively.

Less Than 12 Months12 Months or LongerTotal
(dollars in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
June 30, 2026
Available-for-sale:
Debt securities:
States and political subdivisions$7,248 $(95)$102,373 $(24,502)$109,621 $(24,597)
Corporate securities4,958 (42)— — 4,958 (42)
U.S. Treasury and other government-sponsored entities and agencies43,801 (200)10,808 (1,330)54,609 (1,530)
Collateralized loan obligations62,689 (197)10,005 (7)72,694 (204)
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies57,690 (505)245,291 (39,759)302,981 (40,264)
Residential - Non-government agencies4,242 (67)6,543 (719)10,785 (786)
Commercial - U.S. government-sponsored entities and agencies— — 48,150 (11,437)48,150 (11,437)
Total$180,628 $(1,106)$423,170 $(77,754)$603,798 $(78,860)
Less Than 12 Months12 Months or LongerTotal
(dollars in thousands)Fair ValueUnrecognized LossesFair ValueUnrecognized LossesFair ValueUnrecognized Losses
June 30, 2026
Held-to-maturity:
Debt securities:
States and political subdivisions$— $— $35,504 $(6,334)$35,504 $(6,334)
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies— — 431,029 (64,004)431,029 (64,004)
Total$— $— $466,533 $(70,338)$466,533 $(70,338)

Less Than 12 Months12 Months or LongerTotal
(dollars in thousands)Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
December 31, 2025
Available-for-sale:
Debt securities:
States and political subdivisions$2,196 $(12)$105,922 $(24,165)$108,118 $(24,177)
U.S. Treasury and other government-sponsored entities and agencies20,687 (48)11,976 (1,245)32,663 (1,293)
Collateralized loan obligations21,002 (99)10,020 (66)31,022 (165)
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies— — 261,335 (38,200)261,335 (38,200)
Residential - Non-government agencies— — 6,954 (722)6,954 (722)
Commercial - U.S. government-sponsored entities and agencies— — 49,246 (11,552)49,246 (11,552)
Total$43,885 $(159)$445,453 $(75,950)$489,338 $(76,109)

Less Than 12 Months12 Months or LongerTotal
(dollars in thousands)Fair ValueUnrecognized LossesFair ValueUnrecognized LossesFair ValueUnrecognized Losses
December 31, 2025
Held-to-maturity:
Debt securities:
States and political subdivisions$— $— $34,699 $(7,226)$34,699 $(7,226)
Mortgage-backed securities:
Residential - U.S. government-sponsored entities and agencies— — 450,997 (59,451)450,997 (59,451)
Total$— $— $485,696 $(66,677)$485,696 $(66,677)