| Amortized Cost and Fair Value of Securities with Gross Unrealized Gains and Losses |
Securities available for sale are summarized as follows as of the dates presented below (dollars in thousands):
| |
|
Amortized
Cost
|
|
|
|
|
|
Gross
Unrealized
Losses
|
|
|
Allowance
for Credit
Losses
|
|
|
Fair
Value
|
|
|
June 30, 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available for sale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State and municipal
|
|
$
|
197,674 |
|
|
$
|
554 |
|
|
$
|
(20,442 |
)
|
|
$
|
- |
|
|
$
|
177,786 |
|
|
Residential mortgage-backed securities
|
|
|
288,743 |
|
|
|
107 |
|
|
|
(41,857 |
)
|
|
|
- |
|
|
|
246,993 |
|
|
Commercial mortgage-backed securities
|
|
|
50,587 |
|
|
|
- |
|
|
|
(4,302 |
)
|
|
|
- |
|
|
|
46,285 |
|
|
Commercial collateralized mortgage obligations
|
|
|
66,689 |
|
|
|
4 |
|
|
|
(168 |
)
|
|
|
- |
|
|
|
66,525 |
|
|
Asset-backed and other amortizing securities
|
|
|
13,001 |
|
|
|
- |
|
|
|
(951 |
)
|
|
|
- |
|
|
|
12,050 |
|
|
Other securities
|
|
|
5,599 |
|
|
|
251 |
|
|
|
(62 |
)
|
|
|
- |
|
|
|
5,788 |
|
| |
|
$
|
622,293 |
|
|
$
|
916 |
|
|
$
|
(67,782 |
)
|
|
$
|
- |
|
|
$
|
555,427 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available for sale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State and municipal
|
|
$
|
199,417 |
|
|
$
|
388 |
|
|
$
|
(23,500 |
)
|
|
$
|
- |
|
|
$
|
176,305 |
|
|
Residential mortgage-backed securities
|
|
|
302,711 |
|
|
|
130 |
|
|
|
(42,081 |
)
|
|
|
- |
|
|
|
260,760 |
|
|
Commercial mortgage-backed securities
|
|
|
48,769 |
|
|
|
- |
|
|
|
(3,983 |
)
|
|
|
- |
|
|
|
44,786 |
|
|
Commercial collateralized mortgage obligations
|
|
|
67,708 |
|
|
|
77 |
|
|
|
(188 |
)
|
|
|
- |
|
|
|
67,597 |
|
|
Asset-backed and other amortizing securities
|
|
|
13,972 |
|
|
|
- |
|
|
|
(840 |
)
|
|
|
- |
|
|
|
13,132 |
|
|
Other securities
|
|
|
5,000 |
|
|
|
- |
|
|
|
(40 |
)
|
|
|
- |
|
|
|
4,960 |
|
| |
|
$
|
637,577 |
|
|
$
|
595 |
|
|
$
|
(70,632 |
)
|
|
$
|
- |
|
|
$
|
567,540 |
|
|
| Amortized Cost and Fair Value of Securities by Contractual Maturity |
The amortized cost and estimated fair value of securities at June 30, 2026 are presented below by contractual maturity (dollars in thousands). Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Declining-balance securities are shown separately since they are not due at a single maturity date.
| |
|
Available for Sale
|
|
| |
|
Amortized
Cost
|
|
|
Fair Value
|
|
|
Within 1 year
|
|
$
|
- |
|
|
$
|
- |
|
|
After 1 year through 5 years
|
|
|
5,064 |
|
|
|
5,010 |
|
|
After 5 years through 10 years
|
|
|
19,481 |
|
|
|
19,012 |
|
|
After 10 years
|
|
|
178,728 |
|
|
|
159,552 |
|
|
Declining-balance securities
|
|
|
419,020 |
|
|
|
371,853 |
|
| |
|
$
|
622,293 |
|
|
$
|
555,427 |
|
|
| Securities with Unrealized Losses Segregated by the Period in a Loss Position |
The following table segregates securities with unrealized losses at the dates indicated, by the duration they have been in a loss position for which an allowance for credit losses has not been recorded (dollars in thousands):
|
|
|
Less than 12 Months
|
|
|
12 Months or More
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized
Loss
|
|
|
|
|
|
|
|
|
June 30, 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State and municipal
|
|
$
|
277 |
|
|
$
|
1 |
|
|
$
|
166,348 |
|
|
$
|
20,441 |
|
|
$
|
166,625 |
|
|
$
|
20,442 |
|
|
Residential mortgage-backed securities
|
|
|
3,806 |
|
|
|
89 |
|
|
|
236,040 |
|
|
|
41,768 |
|
|
|
239,846 |
|
|
|
41,857 |
|
|
Commercial mortgage-backed securities
|
|
|
5,918 |
|
|
|
97 |
|
|
|
40,367 |
|
|
|
4,205 |
|
|
|
46,285 |
|
|
|
4,302 |
|
|
Commercial collateralized mortgage obligations
|
|
|
62,708 |
|
|
|
168 |
|
|
|
- |
|
|
|
- |
|
|
|
62,708 |
|
|
|
168 |
|
|
Asset-backed and other amortizing securities
|
|
|
- |
|
|
|
- |
|
|
|
12,050 |
|
|
|
951 |
|
|
|
12,050 |
|
|
|
951 |
|
|
Other securities
|
|
|
2,335 |
|
|
|
62 |
|
|
|
- |
|
|
|
- |
|
|
|
2,335 |
|
|
|
62 |
|
|
|
|
$
|
75,044 |
|
|
$
|
417 |
|
|
$
|
454,805 |
|
|
$
|
67,365 |
|
|
$
|
529,849 |
|
|
$
|
67,782 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State and municipal
|
|
$
|
205 |
|
|
$
|
- |
|
|
$
|
165,618 |
|
|
$
|
23,500 |
|
|
$
|
165,823 |
|
|
$
|
23,500 |
|
|
Residential mortgage-backed securities
|
|
|
3,132 |
|
|
|
48 |
|
|
|
249,710 |
|
|
|
42,033 |
|
|
|
252,842 |
|
|
|
42,081 |
|
|
Commercial mortgage-backed securities
|
|
|
3,503 |
|
|
|
7 |
|
|
|
41,284 |
|
|
|
3,976 |
|
|
|
44,787 |
|
|
|
3,983 |
|
|
Commercial collateralized mortgage obligations
|
|
|
63,210 |
|
|
|
188 |
|
|
|
- |
|
|
|
- |
|
|
|
63,210 |
|
|
|
188 |
|
|
Asset-backed and other amortizing securities
|
|
|
- |
|
|
|
- |
|
|
|
13,132 |
|
|
|
840 |
|
|
|
13,132 |
|
|
|
840 |
|
|
Other securities
|
|
|
- |
|
|
|
- |
|
|
|
4,961 |
|
|
|
40 |
|
|
|
4,961 |
|
|
|
40 |
|
|
|
|
$
|
70,050 |
|
|
$
|
243 |
|
|
$
|
474,705 |
|
|
$
|
70,389 |
|
|
$
|
544,755 |
|
|
$
|
70,632 |
|
|