Securities (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of amortized cost and fair value of the securities portfolio and corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive loss


					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
September 30, 2026		Cost¹			Gains			Losses			Value
Securities available-for-sale
U.S. Treasury		$	149,225		$	54		$	(1,206)		$	148,073
U.S. government agencies			40,490			-			(1,381)			39,109
U.S. government agencies mortgage-backed			84,741			-			(9,906)			74,835
States and political subdivisions			190,475			3			(13,206)			177,272
Collateralized mortgage obligations			367,105			241			(38,556)			328,790
Asset-backed securities			38,757			231			(1,593)			37,395
Collateralized loan obligations			172,317			76			(62)			172,331
Equity securities			714			57			-			771
Total securities available-for-sale		$	1,043,824		$	662		$	(65,910)		$	978,576


					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
December 31, 2025		Cost¹			Gains			Losses			Value
Securities available-for-sale
U.S. Treasury		$	164,296		$	1,564		$	-		$	165,860
U.S. government agencies			29,421			-			(245)			29,176
U.S. government agencies mortgage-backed			95,899			-			(7,119)			88,780
States and political subdivisions			213,366			450			(7,441)			206,375
Collateralized mortgage obligations			388,774			1,102			(30,571)			359,305
Asset-backed securities			46,600			423			(1,207)			45,816
Collateralized loan obligations			194,552			151			(239)			194,464
Equity securities			684			63			-			747
Total securities available-for-sale		$	1,133,592		$	3,753		$	(46,822)		$	1,090,523

¹ Excludes accrued interest receivable of $5.7 million at September 30, 2026, and $6.9 million at December 31, 2025, that is recorded in other assets on the Consolidated Balance Sheets.

Schedule of fair value, amortized cost and weighted average yield of debt securities by contractual maturity along with securities not due at a single maturity date, primarily mortgage-backed securities (MBS), asset-backed securities, and collateralized loan obligations


					Weighted
		Amortized			Average			Fair
Securities available-for-sale		Cost			Yield			Value
Due in one year or less		$	73,396		4.41	%		$	73,321
Due after one year through five years			114,683		3.85				112,046
Due after five years through ten years			135,214		3.57				126,467
Due after ten years			56,897		3.12				52,620
			380,190		3.75				364,454
Mortgage-backed and collateralized mortgage obligations			451,846		2.87				403,625
Asset-backed securities			38,757		3.81				37,395
Collateralized loan obligations			172,317		5.03				172,331
Equity securities			714		-				771
Total securities available-for-sale		$	1,043,824		3.58	%		$	978,576

Schedule of securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position


		Less than 12 months								12 months or more
September 30, 2026		in an unrealized loss position								in an unrealized loss position								Total
		Number of		Unrealized			Fair			Number of		Unrealized			Fair			Number of		Unrealized			Fair
Securities available-for-sale		Securities		Losses			Value			Securities		Losses			Value			Securities		Losses			Value
U.S. Treasuries		8		$	1,206		$	108,154		-		$	-		$	-		8		$	1,206		$	108,154
U.S. government agencies		1			1,358			38,329		4			23			779		5			1,381			39,108
U.S. government agencies mortgage-backed		1			719			9,783		124			9,187			64,677		125			9,906			74,460
States and political subdivisions		38			1,430			99,865		19			11,776			69,984		57			13,206			169,849
Collateralized mortgage obligations		15			1,095			61,448		125			37,461			246,303		140			38,556			307,751
Asset-backed securities		2			18			1,272		13			1,575			30,645		15			1,593			31,917
Collateralized loan obligations		10			57			61,550		1			5			4,995		11			62			66,545
Total securities available-for-sale		75		$	5,883		$	380,401		286		$	60,027		$	417,383		361		$	65,910		$	797,784


		Less than 12 months								12 months or more
December 31, 2025		in an unrealized loss position								in an unrealized loss position								Total
		Number of		Unrealized				Fair		Number of		Unrealized				Fair		Number of		Unrealized				Fair
Securities available-for-sale		Securities		Losses				Value		Securities		Losses				Value		Securities		Losses				Value
U.S. government agencies		-		$	-		$	-		7		$	245		$	29,176		7		$	245		$	29,176
U.S. government agencies mortgage-backed		1			36			10,572		126			7,083			78,208		127			7,119			88,780
States and political subdivisions		1			4			5,046		29			7,437			104,483		30			7,441			109,529
Collateralized mortgage obligations		5			19			6,287		130			30,552			288,228		135			30,571			294,515
Asset-backed securities		7			139			14,927		7			1,068			20,164		14			1,207			35,091
Collateralized loan obligations		12			239			87,299		-			-			-		12			239			87,299
Total securities available-for-sale		26		$	437		$	124,131		299		$	46,385		$	520,259		325		$	46,822		$	644,390

Schedule of proceeds from sale and gross realized gains (losses) on securities available-for-sale


			Three Months Ended						Nine Months Ended
			September 30,						September 30,
Securities available-for-sale		2026			2025			2026			2025
Proceeds from sales of securities ¹		$	-		$	125,892		$	-		$	125,892
Gross realized gains on securities			-			-			-			-
Gross realized losses on securities			(1)			(1)			(1)			(1)
Net realized losses		$	(1)		$	(1)		$	(1)		$	(1)
Income tax benefit on net realized losses		$	-		$	-		$	-		$	-
Effective tax rate applied			N/M			N/M			N/M			N/M

N/M – Not meaningful.

¹ 2025 values include $118.4 million of proceeds on the sale of securities acquired from Bancorp Financial, which is a reflection of the fair value on the acquisition date.