Investment Securities (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Gross Realized and Unrealized Gains (Losses) on Marketable Equity Securities |
The realized and unrealized gains (losses) recognized on marketable equity securities in other operating income in the Company's Consolidated Statements of Income were as follows: | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | Nine Months Ended September 30, | | (In Thousands) | 2026 | | 2025 | 2026 | | 2025 | | Unrealized (loss) gain on marketable equity securities | ($291) | | | $80 | | ($383) | | | $108 | | | | | | | | | | Total | ($291) | | | $80 | | ($383) | | | $108 | |
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| Summary of Available-For-Sale Securities |
The following table summarizes the amortized cost, estimated fair value, and the Allowance for Credit Losses (“ACL”) of debt securities and the corresponding amounts of gross unrealized gains and losses of available-for-sale securities recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses of held to maturity securities at the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In Thousands) | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Allowance for Credit Losses | | Fair Value | | September 30, 2026 | | | | | | | | | | | Securities available for sale | | | | | | | | | | | U.S. Treasury and government sponsored entities | $403,823 | | | $4 | | | ($5,892) | | | $— | | | $397,935 | | | | | | | | | | | | | U.S. Agency mortgage-backed securities | 4,521 | | | — | | | (124) | | | | | 4,397 | | | | | | | | | | | | | Collateralized loan obligations | 30,502 | | | 20 | | | (32) | | | — | | | 30,490 | | | Total securities available for sale | $438,846 | | | $24 | | | ($6,048) | | | $— | | | $432,822 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In Thousands) | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Allowance for Credit Losses | | Fair Value | | December 31, 2025 | | | | | | | | | | | Securities available for sale | | | | | | | | | | | U.S. Treasury and government sponsored entities | $389,391 | | | $1,717 | | | ($2,371) | | | $— | | | $388,737 | | | | | | | | | | | | | U.S. Agency mortgage-backed securities | 4,797 | | | 1 | | | — | | | | | 4,798 | | | Corporate bonds | 5,003 | | | — | | | (51) | | | — | | | 4,952 | | | Collateralized loan obligations | 22,141 | | | 33 | | | — | | | — | | | 22,174 | | | Total securities available for sale | $421,332 | | | $1,751 | | | ($2,422) | | | $— | | | $420,661 | |
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| Summary of Held-To-Maturity Securities |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In Thousands) | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Allowance for Credit Losses | | Fair Value | | September 30, 2026 | | | | | | | | | | | Securities held to maturity | | | | | | | | | | | Corporate bonds | $37,750 | | | $143 | | | ($721) | | | $— | | | $37,172 | | Total securities held to maturity | $37,750 | | | $143 | | | ($721) | | | $— | | | $37,172 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In Thousands) | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Allowance for Credit Losses | | Fair Value | | December 31, 2025 | | | | | | | | | | | Securities held to maturity | | | | | | | | | | | Corporate bonds | $26,750 | | | $426 | | | ($578) | | | $— | | | $26,598 | | Total securities held to maturity | $26,750 | | | $426 | | | ($578) | | | $— | | | $26,598 | |
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| Gross Unrealized Losses on Available For Sale Securities and the Fair Value |
Gross unrealized losses on available for sale securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2026 and December 31, 2025 were as follows:
| | | | | | | | | | | | | | | | | | | | | | Less Than 12 Months | More Than 12 Months | Total | | (In Thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | | September 30, 2026 | | | | | | | | Securities available for sale | | | | | | | | U.S. Treasury and government sponsored entities | $293,873 | | ($5,138) | | $94,187 | | ($754) | | $388,060 | | ($5,892) | | | | | | | | | | Collateralized loan obligations | 8,968 | | (32) | | — | | — | | 8,968 | | (32) | | | | | | | | | | Mortgage-backed securities | 4,397 | | (124) | | — | | — | | 4,397 | | (124) | | | | | | | | | | Total | $307,238 | | ($5,294) | | $94,187 | | ($754) | | $401,425 | | ($6,048) | | | Securities Held to Maturity | | | | | | | Corporate bonds | $4,957 | | ($43) | | $11,072 | | ($678) | | $16,029 | | ($721) | | | Total | $4,957 | | ($43) | | $11,072 | | ($678) | | $16,029 | | ($721) | | | | | | | | | | December 31, 2025 | | | | | | | | Securities available for sale | | | | | | | | U.S. Treasury and government sponsored entities | $19,992 | | ($8) | | $236,387 | | ($2,363) | | $256,379 | | ($2,371) | | | Corporate bonds | — | | — | | 4,592 | | (51) | | 4,592 | | (51) | | | | | | | | | | | | | | | | | | | | | | | | Total | $19,992 | | ($8) | | $240,979 | | ($2,414) | | $260,971 | | ($2,422) | | | Securities Held to Maturity | | | | | | | Corporate bonds | $— | | $— | | $11,172 | | ($578) | | $11,172 | | ($578) | | | Total | $— | | $— | | $11,172 | | ($578) | | $11,172 | | ($578) | |
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| Schedule of Amortized Cost and Fair Value by Contractual Maturity |
The amortized cost and estimated fair values of available for sale and held to maturity debt securities at September 30, 2026, are distributed by contractual maturity as shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. | | | | | | | | | | | | | (In Thousands) | Amortized Cost | | Fair Value | | September 30, 2026 | | | | U.S. Treasury and government sponsored entities | | | | | Within 1 year | $129,693 | | | $128,952 | | | 1-5 years | 274,130 | | | 268,983 | | | | | | | Total | $403,823 | | | $397,935 | | | U.S. Agency mortgage-backed securities | | | | | | | | | | | | | 5-10 years | $4,521 | | | $4,397 | | | | | | | Total | $4,521 | | | $4,397 | | | Corporate bonds | | | | | | | | | 1-5 years | $15,000 | | | $15,128 | | | 5-10 years | 22,750 | | | 22,044 | | | | | | | Total | $37,750 | | | $37,172 | | | Collateralized loan obligations | | | | | 1-5 years | $502 | | | $506 | | | | | | | Over 10 years | 30,000 | | | 29,984 | | | Total | $30,502 | | | $30,490 | | | | | | | | | | | | | | | | | | | | | |
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| Summary of Interest Income On Available-for-Sale Investment Securities |
A summary of interest income for the three and nine-month periods ending September 30, 2026 and 2025, on available for sale investment securities are as follows: | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | Nine Months Ended September 30, | | (In Thousands) | 2026 | | 2025 | 2026 | | 2025 | U.S. Treasury and government sponsored entities | $3,371 | | | $2,224 | | $8,788 | | | $6,963 | | | U.S. Agency mortgage-backed securities | 56 | | | 61 | | 172 | | | 114 | | | Other | 353 | | | 438 | | 1,037 | | | 1,624 | | | Total taxable interest income | $3,780 | | | $2,723 | | $9,997 | | | $8,701 | | | | | | | | | | Total tax-exempt interest income | $— | | | $— | | $— | | | $— | | | Total | $3,780 | | | $2,723 | | $9,997 | | | $8,701 | |
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