Securities (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Debt Securities, Trading, and Equity Securities, FV-NI, Cost [Abstract] |
|
| Schedule of Gross Unrealized Gains (Losses) |
The fair value of equity securities and the related gross unrealized gains (losses) recognized in noninterest income were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
(Dollars in thousands) |
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
Equity securities |
$ |
9,132 |
|
|
$ |
893 |
|
|
$ |
(528 |
) |
|
$ |
9,497 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
(Dollars in thousands) |
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
Equity securities |
$ |
9,073 |
|
|
$ |
751 |
|
|
$ |
(471 |
) |
|
$ |
9,353 |
|
|
| Schedule of Gross Unrealized Gains (Losses) on Investment Securities Available for Sale Recognized in Accumulated Other Comprehensive Income (loss) |
The following tables present the amortized cost and fair value of securities available for sale and the gross unrealized gains (losses) recognized in accumulated other comprehensive income (loss) and the amortized cost and fair value of securities held to maturity and the related gross unrealized gains and losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
(Dollars in thousands) |
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
Available for Sale: |
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
U.S. Treasury notes and bonds |
$ |
94,033 |
|
|
$ |
- |
|
|
$ |
(5,332 |
) |
|
$ |
88,701 |
|
State and municipal |
|
226,435 |
|
|
|
- |
|
|
|
(27,204 |
) |
|
|
199,231 |
|
Mortgage-backed |
|
272,452 |
|
|
|
167 |
|
|
|
(15,896 |
) |
|
|
256,723 |
|
Corporate |
|
250 |
|
|
|
- |
|
|
|
(26 |
) |
|
|
224 |
|
Asset-backed securities |
|
10,788 |
|
|
|
1 |
|
|
|
(97 |
) |
|
|
10,692 |
|
Total |
$ |
603,958 |
|
|
$ |
168 |
|
|
$ |
(48,555 |
) |
|
$ |
555,571 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
Held to Maturity: |
|
|
|
|
|
|
|
|
|
|
|
U.S. Government and federal agency |
$ |
2,987 |
|
|
$ |
- |
|
|
$ |
(164 |
) |
|
$ |
2,823 |
|
State and municipal |
|
195,676 |
|
|
|
65 |
|
|
|
(23,035 |
) |
|
|
172,706 |
|
Mortgage-backed |
|
162,937 |
|
|
|
2 |
|
|
|
(14,581 |
) |
|
|
148,358 |
|
Corporate |
|
21,745 |
|
|
|
66 |
|
|
|
(872 |
) |
|
|
20,939 |
|
Total |
$ |
383,345 |
|
|
$ |
133 |
|
|
$ |
(38,652 |
) |
|
$ |
344,826 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
(Dollars in thousands) |
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
Available for Sale: |
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
U.S. Treasury notes and bonds |
$ |
94,200 |
|
|
$ |
30 |
|
|
$ |
(5,195 |
) |
|
$ |
89,035 |
|
State and municipal |
|
260,228 |
|
|
|
- |
|
|
|
(32,654 |
) |
|
|
227,574 |
|
Mortgage-backed |
|
241,643 |
|
|
|
178 |
|
|
|
(14,767 |
) |
|
|
227,054 |
|
Corporate |
|
250 |
|
|
|
- |
|
|
|
(28 |
) |
|
|
222 |
|
Asset-backed securities |
|
10,670 |
|
|
|
- |
|
|
|
(135 |
) |
|
|
10,535 |
|
Total |
$ |
606,991 |
|
|
$ |
208 |
|
|
$ |
(52,779 |
) |
|
$ |
554,420 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
Held to Maturity: |
|
|
|
|
|
|
|
|
|
|
|
U.S. Government and federal agency |
$ |
2,984 |
|
|
$ |
- |
|
|
$ |
(152 |
) |
|
$ |
2,832 |
|
State and municipal |
|
196,448 |
|
|
|
63 |
|
|
|
(22,116 |
) |
|
|
174,395 |
|
Mortgage-backed |
|
164,820 |
|
|
|
14 |
|
|
|
(13,729 |
) |
|
|
151,105 |
|
Corporate |
|
20,941 |
|
|
|
38 |
|
|
|
(1,189 |
) |
|
|
19,790 |
|
Total |
$ |
385,193 |
|
|
$ |
115 |
|
|
$ |
(37,186 |
) |
|
$ |
348,122 |
|
|
| Schedule of Available for Sale Securities with Unrealize Losses |
Available for sale securities with unrealized losses as of June 30, 2026 and December 31, 2025, aggregated by investment category and length of time the individual securities have been in an unrealized loss position, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
Less than 12 months |
|
|
More than 12 months |
|
|
Total |
|
(Dollars in thousands) |
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
Available for Sale: |
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
U.S. Treasury notes and bonds |
$ |
3,875 |
|
|
$ |
4 |
|
|
$ |
83,832 |
|
|
$ |
5,328 |
|
|
$ |
87,707 |
|
|
$ |
5,332 |
|
State and municipal |
|
555 |
|
|
|
2 |
|
|
|
198,676 |
|
|
|
27,202 |
|
|
|
199,231 |
|
|
|
27,204 |
|
Mortgage-backed |
|
104,549 |
|
|
|
2,042 |
|
|
|
111,925 |
|
|
|
13,854 |
|
|
|
216,474 |
|
|
|
15,896 |
|
Corporate |
|
- |
|
|
|
- |
|
|
|
224 |
|
|
|
26 |
|
|
|
224 |
|
|
|
26 |
|
Asset-backed securities |
|
1,594 |
|
|
|
14 |
|
|
|
8,167 |
|
|
|
83 |
|
|
|
9,761 |
|
|
|
97 |
|
Total temporarily impaired |
$ |
110,573 |
|
|
$ |
2,062 |
|
|
$ |
402,824 |
|
|
$ |
46,493 |
|
|
$ |
513,397 |
|
|
$ |
48,555 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
Less than 12 months |
|
|
More than 12 months |
|
|
Total |
|
(Dollars in thousands) |
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
Available for Sale: |
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
U.S. Treasury notes and bonds |
$ |
- |
|
|
$ |
- |
|
|
$ |
84,204 |
|
|
$ |
5,195 |
|
|
$ |
84,204 |
|
|
$ |
5,195 |
|
State and municipal |
|
4,716 |
|
|
|
467 |
|
|
|
222,858 |
|
|
|
32,187 |
|
|
|
227,574 |
|
|
|
32,654 |
|
Mortgage-backed |
|
66,709 |
|
|
|
644 |
|
|
|
128,063 |
|
|
|
14,123 |
|
|
|
194,772 |
|
|
|
14,767 |
|
Corporate |
|
- |
|
|
|
- |
|
|
|
222 |
|
|
|
28 |
|
|
|
222 |
|
|
|
28 |
|
Asset-backed securities |
|
1,910 |
|
|
|
10 |
|
|
|
8,625 |
|
|
|
125 |
|
|
|
10,535 |
|
|
|
135 |
|
Total temporarily impaired |
$ |
73,335 |
|
|
$ |
1,121 |
|
|
$ |
443,972 |
|
|
$ |
51,658 |
|
|
$ |
517,307 |
|
|
$ |
52,779 |
|
|
| Schedule of Held to Maturity Securities with Unrealize Losses |
Held to maturity securities with unrealized losses as of June 30, 2026 and December 31, 2025, aggregated by investment category and length of time the individual securities have been in an unrealized loss position, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
Less than 12 months |
|
|
More than 12 months |
|
|
Total |
|
(Dollars in thousands) |
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
Held to Maturity: |
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
U.S. Government and federal agency |
$ |
- |
|
|
$ |
- |
|
|
$ |
2,823 |
|
|
$ |
164 |
|
|
$ |
2,823 |
|
|
$ |
164 |
|
State and municipal |
|
1,368 |
|
|
|
7 |
|
|
|
167,029 |
|
|
|
23,028 |
|
|
|
168,397 |
|
|
|
23,035 |
|
Mortgage-backed |
|
4,958 |
|
|
|
5 |
|
|
|
142,194 |
|
|
|
14,576 |
|
|
|
147,152 |
|
|
|
14,581 |
|
Corporate |
|
1,380 |
|
|
|
20 |
|
|
|
15,656 |
|
|
|
852 |
|
|
|
17,036 |
|
|
|
872 |
|
Total temporarily impaired |
$ |
7,706 |
|
|
$ |
32 |
|
|
$ |
327,702 |
|
|
$ |
38,620 |
|
|
$ |
335,408 |
|
|
$ |
38,652 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
Less than 12 months |
|
|
More than 12 months |
|
|
Total |
|
(Dollars in thousands) |
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
Held to Maturity: |
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
|
Losses |
|
U.S. Government and federal agency |
$ |
- |
|
|
$ |
- |
|
|
$ |
2,832 |
|
|
$ |
152 |
|
|
$ |
2,832 |
|
|
$ |
152 |
|
State and municipal |
|
45 |
|
|
|
- |
|
|
|
169,139 |
|
|
|
22,116 |
|
|
|
169,184 |
|
|
|
22,116 |
|
Mortgage-backed |
|
- |
|
|
|
- |
|
|
|
144,910 |
|
|
|
13,729 |
|
|
|
144,910 |
|
|
|
13,729 |
|
Corporate |
|
2,043 |
|
|
|
57 |
|
|
|
16,296 |
|
|
|
1,132 |
|
|
|
18,339 |
|
|
|
1,189 |
|
Total temporarily impaired |
$ |
2,088 |
|
|
$ |
57 |
|
|
$ |
333,177 |
|
|
$ |
37,129 |
|
|
$ |
335,265 |
|
|
$ |
37,186 |
|
|
| Schedule of Maturities of Securities |
Presented below is a schedule of maturities of securities as of June 30, 2026. Available for sale securities are reported at fair value and held to maturity securities are reported at amortized cost. Callable securities in the money are presumed called and matured at the callable date.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Available for Sale Securities maturing within: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value |
|
|
Less than |
|
|
1 Year - |
|
|
5 Years - |
|
|
More than |
|
|
at June 30, |
|
(Dollars in thousands) |
1 Year |
|
|
5 Years |
|
|
10 Years |
|
|
10 Years |
|
|
2026 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury notes and bonds |
$ |
2,956 |
|
|
$ |
85,745 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
88,701 |
|
State and municipal |
|
555 |
|
|
|
41,027 |
|
|
|
15,974 |
|
|
|
141,675 |
|
|
|
199,231 |
|
Corporate |
|
- |
|
|
|
- |
|
|
|
224 |
|
|
|
- |
|
|
|
224 |
|
Asset-backed securities |
|
797 |
|
|
|
6,766 |
|
|
|
3,129 |
|
|
|
- |
|
|
|
10,692 |
|
Total debt securities |
|
4,308 |
|
|
|
133,538 |
|
|
|
19,327 |
|
|
|
141,675 |
|
|
|
298,848 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage-backed securities |
|
10,285 |
|
|
|
138,159 |
|
|
|
81,116 |
|
|
|
27,163 |
|
|
|
256,723 |
|
Total Available for Sale |
$ |
14,593 |
|
|
$ |
271,697 |
|
|
$ |
100,443 |
|
|
$ |
168,838 |
|
|
$ |
555,571 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Held to Maturity Securities maturing within: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortized Cost |
|
|
Less than |
|
|
1 Year - |
|
|
5 Years - |
|
|
More than |
|
|
at June 30, |
|
(Dollars in thousands) |
1 Year |
|
|
5 Years |
|
|
10 Years |
|
|
10 Years |
|
|
2026 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Government and federal agency |
$ |
- |
|
|
$ |
2,987 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
2,987 |
|
State and municipal |
|
3,259 |
|
|
|
68,607 |
|
|
|
80,485 |
|
|
|
43,325 |
|
|
|
195,676 |
|
Corporate |
|
- |
|
|
|
7,257 |
|
|
|
14,488 |
|
|
|
- |
|
|
|
21,745 |
|
Total debt securities |
|
3,259 |
|
|
|
78,851 |
|
|
|
94,973 |
|
|
|
43,325 |
|
|
|
220,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage-backed securities |
|
1,500 |
|
|
|
133,828 |
|
|
|
27,609 |
|
|
|
- |
|
|
|
162,937 |
|
Total Held to Maturity |
$ |
4,759 |
|
|
$ |
212,679 |
|
|
$ |
122,582 |
|
|
$ |
43,325 |
|
|
$ |
383,345 |
|
Following is information regarding sales of securities available for sale for the three and six months ended June 30, 2026 and 2025. The cost of securities sold is determined using the specific identification method.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
(Dollars in thousands) |
June 30, |
|
|
June 30, |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Proceeds from sales of securities |
$ |
25,298 |
|
|
$ |
- |
|
|
$ |
29,533 |
|
|
$ |
78,856 |
|
Gross realized gains |
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Gross realized losses |
|
(1,933 |
) |
|
|
- |
|
|
|
(2,136 |
) |
|
|
- |
|
|
| Schedule of Realized Gain (Loss) |
Following is information regarding sales of securities available for sale for the three and six months ended June 30, 2026 and 2025. The cost of securities sold is determined using the specific identification method.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
(Dollars in thousands) |
June 30, |
|
|
June 30, |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Proceeds from sales of securities |
$ |
25,298 |
|
|
$ |
- |
|
|
$ |
29,533 |
|
|
$ |
78,856 |
|
Gross realized gains |
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Gross realized losses |
|
(1,933 |
) |
|
|
- |
|
|
|
(2,136 |
) |
|
|
- |
|
|
| Schedule of Unrealized Gains and Losses on Equity Securities |
Following is information regarding unrealized gains and losses on equity securities for the three and six months ended June 30, 2026 and 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
June 30, |
|
|
June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
(Dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
Net gains and (losses) recognized during the period |
|
$ |
59 |
|
|
$ |
239 |
|
|
$ |
85 |
|
|
$ |
346 |
|
Less: Net gains and (losses) recognized during the period on securities sold |
|
|
- |
|
|
|
- |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized gains and (losses) recognized during the reporting period on securities still held at the reporting date |
|
$ |
59 |
|
|
$ |
239 |
|
|
$ |
85 |
|
|
$ |
346 |
|
|