Securities & Allowance for Securities Credit Losses (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 Marketable Securities |
The following tables summarize the amortized cost, gross unrealized gains and losses, fair value and allowance for credit losses of AFS and HTM debt securities at June 30, 2026 and December 31, 2025 (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
(Losses) | | Fair
Value | | Allowance
for Credit
Losses | | Securities available for sale: | | | | | | | | | | | U.S. government and federal agencies | $ | 655,018 | | | $ | 64 | | | $ | (2,396) | | | $ | 652,686 | | | $ | — | | | Mortgage backed securities | 3,896 | | | 2 | | | (381) | | | 3,517 | | | — | | | Corporate bonds | 79,762 | | | 30 | | | (434) | | | 79,358 | | | — | | | State and municipal securities | 108,898 | | | 32 | | | (2,156) | | | 106,774 | | | — | | | Total securities available for sale | $ | 847,574 | | | $ | 128 | | | $ | (5,367) | | | $ | 842,335 | | | $ | — | | | Securities held to maturity: | | | | | | | | | | | U.S. government and federal agencies | $ | 81,865 | | | $ | — | | | $ | (5,204) | | | $ | 76,661 | | | $ | — | | | Mortgage backed securities | 871 | | | — | | | (23) | | | 848 | | | — | | | Corporate bonds | 30,466 | | | 25 | | | (227) | | | 30,264 | | | (64) | | | State and municipal securities | 111,112 | | | 3 | | | (6,461) | | | 104,654 | | | (27) | | | Total securities held to maturity | $ | 224,314 | | | $ | 28 | | | $ | (11,915) | | | $ | 212,427 | | | $ | (91) | | | Total securities | $ | 1,071,888 | | | $ | 156 | | | $ | (17,282) | | | $ | 1,054,762 | | | $ | (91) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Amortized
Cost | | Gross
Unrealized
Gains | | Gross Unrealized Losses | | Fair
Value | | Allowance
for Credit
Losses | | Securities available for sale: | | | | | | | | | | | U.S. government and federal agencies | $ | 438,351 | | | $ | 805 | | | $ | (833) | | | $ | 438,323 | | | $ | — | | | Mortgage-backed securities | 5,670 | | | 1 | | | (344) | | | 5,327 | | | — | | | Corporate bonds | 62,796 | | | 283 | | | (171) | | | 62,908 | | | — | | | State and municipal securities | 104,082 | | | 191 | | | (2,027) | | | 102,246 | | | — | | | Total securities available for sale | $ | 610,899 | | | $ | 1,280 | | | $ | (3,375) | | | $ | 608,804 | | | $ | — | | | Securities held to maturity: | | | | | | | | | | | U.S. government and federal agencies | $ | 96,440 | | | $ | 2 | | | $ | (4,887) | | | $ | 91,555 | | | $ | — | | | Mortgage-backed securities | 1,150 | | | — | | | (3) | | | 1,147 | | | — | | | Corporate bonds | 43,891 | | | 65 | | | (429) | | | 43,527 | | | (99) | | | State and municipal securities | 115,157 | | | 11 | | | (6,121) | | | 109,047 | | | (29) | | | Total securities held to maturity | $ | 256,638 | | | $ | 78 | | | $ | (11,440) | | | $ | 245,276 | | | $ | (128) | | | Total securities | $ | 867,537 | | | $ | 1,358 | | | $ | (14,815) | | | $ | 854,080 | | | $ | (128) | |
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| Schedule of Amortized Cost and Fair Value of Investment Securities |
The amortized cost and fair value of debt securities by contractual maturity at June 30, 2026 is as follows (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Available for Sale | | Held to Maturity | | Amortized
Cost | | Fair
Value | | Amortized
Cost | | Fair
Value | | Within one year | $ | 568,375 | | | $ | 567,759 | | | $ | 48,587 | | | $ | 48,181 | | | After one year through five years | 268,950 | | | 265,089 | | | 149,152 | | | 140,421 | | | After five years through ten years | 5,657 | | | 5,274 | | | 25,704 | | | 22,976 | | | Over ten years | 4,592 | | | 4,213 | | | 871 | | | 849 | | | Total | $ | 847,574 | | | $ | 842,335 | | | $ | 224,314 | | | $ | 212,427 | |
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| Schedule of Available-for-sale in Continuous Unrealized Loss Position |
The following table shows the gross unrealized losses and fair value of the Company’s AFS debt securities with unrealized losses aggregated by investment category and length of time that individual debt securities have been in a continuous unrealized loss position at June 30, 2026 and December 31, 2025 (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Less Than Twelve
Months | | Over Twelve Months | | Total | | Gross
Unrealized
Loss | | Fair
Value | | Gross
Unrealized
Loss | | Fair
Value | | Gross
Unrealized
Loss | | Fair
Value | | Securities available for sale: | | | | | | | | | | | | | U.S. government and federal agencies | $ | (1,556) | | | $ | 515,413 | | | $ | (840) | | | $ | 11,097 | | | $ | (2,396) | | | $ | 526,510 | | | Mortgage-backed securities | — | | | — | | | (381) | | | 3,475 | | | (381) | | | 3,475 | | | Corporate bonds | (364) | | | 57,392 | | | (70) | | | 7,539 | | | (434) | | | 64,931 | | | State and municipal securities | (268) | | | 42,817 | | | (1,888) | | | 45,422 | | | (2,156) | | | 88,239 | | | Total securities available for sale | $ | (2,188) | | | $ | 615,622 | | | $ | (3,179) | | | $ | 67,533 | | | $ | (5,367) | | | $ | 683,155 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Less Than Twelve
Months | | Over Twelve Months | | Total | | Gross
Unrealized
Loss | | Fair
Value | | Gross
Unrealized
Loss | | Fair
Value | | Gross
Unrealized
Loss | | Fair
Value | | Securities available for sale: | | | | | | | | | | | | | U.S. government and federal agencies | $ | (6) | | | $ | 10,108 | | | $ | (827) | | | $ | 14,599 | | | $ | (833) | | | $ | 24,707 | | | Mortgage-backed securities | — | | | — | | | (344) | | | 5,283 | | | (344) | | | 5,283 | | | Corporate bonds | (25) | | | 9,501 | | | (146) | | | 8,646 | | | (171) | | | 18,147 | | | State and municipal securities | (18) | | | 9,491 | | | (2,009) | | | 54,317 | | | (2,027) | | | 63,808 | | | Total securities available for sale | $ | (49) | | | $ | 29,100 | | | $ | (3,326) | | | $ | 82,845 | | | $ | (3,375) | | | $ | 111,945 | |
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| Schedule of Debt Securities, Held-to-Maturity, Credit Quality Indicator |
The following table presents the amortized cost of HTM debt securities as of June 30, 2026 and December 31, 2025 by security type and credit rating (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | U.S.
Government
and Federal
Agencies | | Mortgage
Backed
Securities | | Corporate
Bonds | | State and
Municipal
Securities | | Total HTM
Securities | | AAA / AA / A | $ | 81,865 | | | $ | 871 | | | $ | 9,507 | | | $ | 111,112 | | | $ | 203,355 | | | BBB / BB / B | — | | | — | | | 20,959 | | | — | | | 20,959 | | | Total | $ | 81,865 | | | $ | 871 | | | $ | 30,466 | | | $ | 111,112 | | | $ | 224,314 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | U.S.
Government
and Federal
Agencies | | Mortgage
Backed
Securities | | Corporate
Bonds | | State and
Municipal
Securities | | Total HTM
Securities | | AAA / AA / A | $ | 96,440 | | | $ | 1,150 | | | $ | 14,025 | | | $ | 115,157 | | | $ | 226,772 | | | BBB / BB / B | — | | | — | | | 29,866 | | | — | | | 29,866 | | | Total | $ | 96,440 | | | $ | 1,150 | | | $ | 43,891 | | | $ | 115,157 | | | $ | 256,638 | |
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| Schedule of Amortized Cost of HTM Debt Securities |
The following tables summarize the change in the allowance for credit losses on HTM debt securities for the three and six months ended June 30, 2026 and 2025 (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | For the three months ended | U.S.
Government
and Federal
Agencies | | Mortgage
Backed
Securities | | Corporate
Bonds | | State and
Municipal
Securities | | Total HTM
Securities | | Allowance for credit losses: | | | | | | | | | | | Beginning balance, March 31, 2026 | $ | — | | | $ | — | | | $ | 85 | | | $ | 28 | | | $ | 113 | | | Recapture of credit losses | — | | | — | | | (21) | | | (1) | | | (22) | | | Write offs charged against the allowance | — | | | — | | | — | | | — | | | — | | | Recoveries of amounts previously written off | — | | | — | | | — | | | — | | | — | | | Ending balance, June 30, 2026 | $ | — | | | $ | — | | | $ | 64 | | $ | — | | $ | 27 | | $ | — | | $ | 91 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | For the three months ended | U.S.
Government
and Federal
Agencies | | Mortgage
Backed
Securities | | Corporate
Bonds | | State and
Municipal
Securities | | Total HTM
Securities | | Allowance for credit losses: | | | | | | | | | | | Beginning balance, March 31, 2025 | $ | — | | | $ | — | | | $ | 145 | | | $ | 30 | | | $ | 175 | | | Recapture of credit losses | — | | | — | | | (31) | | | — | | | (31) | | | Write offs charged against the allowance | — | | | — | | | — | | | — | | | — | | | Recoveries of amounts previously written off | — | | | — | | | — | | | — | | | — | | | Ending balance, June 30, 2025 | $ | — | | | $ | — | | | $ | 114 | | | $ | 30 | | | $ | 144 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | For the six months ended | U.S.
Government
and Federal
Agencies | | Mortgage
Backed
Securities | | Corporate
Bonds | | State and
Municipal
Securities | | Total HTM
Securities | | Allowance for credit losses: | | | | | | | | | | | Beginning balance, December 31, 2025 | $ | — | | | $ | — | | | $ | 99 | | | $ | 29 | | | $ | 128 | | | Recapture of credit losses | — | | | — | | | (35) | | | (2) | | | (37) | | | Write offs charged against the allowance | — | | | — | | | — | | | — | | | — | | | Recoveries of amounts previously written off | — | | | — | | | — | | | — | | | — | | | Ending balance, June 30, 2026 | $ | — | | | $ | — | | | $ | 64 | | | $ | 27 | | | $ | 91 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | For the six months ended | U.S.
Government
and Federal
Agencies | | Mortgage
Backed
Securities | | Corporate
Bonds | | State and
Municipal
Securities | | Total HTM
Securities | | Allowance for credit losses: | | | | | | | | | | | Beginning balance, December 31, 2024 | $ | — | | | $ | — | | | $ | 171 | | | $ | 31 | | | $ | 202 | | Recapture of credit losses | — | | | — | | | (57) | | | (1) | | | (58) | | | Write offs charged against the allowance | — | | | — | | | — | | | — | | | — | | | Recoveries of amounts previously written off | — | | | — | | | — | | | — | | | — | | | Ending balance, June 30, 2025 | $ | — | | | $ | — | | | $ | 114 | | | $ | 30 | | | $ | 144 | |
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