Securities (Tables)
|
9 Months Ended |
Sep. 30, 2026 |
|---|
| Investments, Debt and Equity Securities [Abstract] |
|
| Summary of Investments |
The following tables present the amortized cost, gross unrealized holding gains, gross unrealized holding losses, ACL on securities, and fair value of securities by major security type and class of security: | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | | | September 30, 2026 | Amortized Cost | Unrealized Gains | Unrealized Losses | ACL | Fair Value | | Available for Sale Debt Securities: | | | | | | | Obligations of U.S. government agencies and U.S. government-sponsored enterprises | $41,642 | | $1 | | ($2,184) | | $— | | $39,459 | | Mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises | 898,998 | | 27 | | (138,089) | | — | | 760,936 | | Obligations of states and political subdivisions | 650 | | — | | (70) | | — | | 580 | | | | | | | | Individual name issuer trust preferred debt securities | 6,190 | | — | | (60) | | — | | 6,130 | | | | | | | | Corporate bonds | 11,221 | | — | | (525) | | — | | 10,696 | | | Total available for sale debt securities | $958,701 | | $28 | | ($140,928) | | $— | | $817,801 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | (Dollars in thousands) | | | December 31, 2025 | Amortized Cost | Unrealized Gains | Unrealized Losses | ACL | Fair Value | | Available for Sale Debt Securities: | | | | | | | Obligations of U.S. government agencies and U.S. government-sponsored enterprises | $41,639 | | $93 | | ($1,774) | | $— | | $39,958 | | Mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises | 973,520 | | 5,100 | | (97,726) | | — | | 880,894 | | Obligations of states and political subdivisions | 650 | | 13 | | — | | — | | 663 | | Individual name issuer trust preferred debt securities | 6,186 | | — | | (83) | | — | | 6,103 | | | | | | | | Corporate bonds | 13,210 | | 2 | | (488) | | — | | 12,724 | | | Total available for sale debt securities | $1,035,205 | | $5,208 | | ($100,071) | | $— | | $940,342 | | | | | | | | | | | | | | | | | | | | | | | | | |
|
| Securities by Contractual Maturity |
The schedule of maturities of available for sale debt securities is presented below. Mortgage-backed securities are included based on weighted average maturities, adjusted for anticipated prepayments. All other debt securities are included based on contractual maturities. Actual maturities may differ from amounts presented because certain issuers have the right to call or prepay obligations with or without call or prepayment penalties. | | | | | | | | | | | | | | (Dollars in thousands) | | | | | September 30, 2026 | Amortized Cost | Fair Value | | | | | | Due in one year or less | $85,722 | | $74,678 | | | | | | Due after one year to five years | 263,995 | | 226,706 | | | | | | Due after five years to ten years | 228,933 | | 193,775 | | | | | | Due after ten years | 380,051 | | 322,642 | | | | | | Total debt securities | $958,701 | | $817,801 | | | | | |
|
| Securities in a Continuous Unrealized Loss Position |
The following tables summarize available for sale debt securities in an unrealized loss position, for which an ACL on securities has not been recorded, segregated by length of time that the securities have been in a continuous unrealized loss position: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | Less than 12 Months | | 12 Months or Longer | | Total | | September 30, 2026 | # | | Fair
Value | Unrealized
Losses | | # | | Fair
Value | Unrealized
Losses | | # | | Fair
Value | Unrealized
Losses | | Obligations of U.S. government agencies and U.S. government-sponsored enterprises | 4 | | | $1,215 | | ($77) | | | 3 | | | $23,242 | | ($2,107) | | | 7 | | | $24,457 | | ($2,184) | | Mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises | 78 | | | 361,569 | | (15,280) | | | 89 | | | 397,647 | | (122,809) | | | 167 | | | 759,216 | | (138,089) | | | Obligations of states and political subdivisions | 1 | | | 580 | | (70) | | | — | | | — | | — | | | 1 | | | 580 | | (70) | | Individual name issuer trust preferred debt securities | — | | | — | | — | | | 2 | | | 6,130 | | (60) | | | 2 | | | 6,130 | | (60) | | | Corporate bonds | — | | | — | | — | | | 3 | | | 10,697 | | (525) | | | 3 | | | 10,697 | | (525) | | Total | 83 | | | $363,364 | | ($15,427) | | | 97 | | | $437,716 | | ($125,501) | | | 180 | | | $801,080 | | ($140,928) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | Less than 12 Months | | 12 Months or Longer | | Total | | December 31, 2025 | # | | Fair
Value | Unrealized
Losses | | # | | Fair
Value | Unrealized
Losses | | # | | Fair
Value | Unrealized
Losses | | Obligations of U.S. government agencies and U.S. government-sponsored enterprises | 2 | | | $611 | | ($5) | | | 3 | | | $23,582 | | ($1,769) | | | 5 | | | $24,193 | | ($1,774) | | Mortgage-backed securities issued by U.S. government agencies and U.S. government-sponsored enterprises | 1 | | | 1,519 | | (1) | | | 91 | | | 453,251 | | (97,725) | | | 92 | | | 454,770 | | (97,726) | | Individual name issuer trust preferred debt securities | — | | | — | | — | | | 2 | | | 6,103 | | (83) | | | 2 | | | 6,103 | | (83) | | | Corporate bonds | — | | | — | | — | | | 3 | | | 10,724 | | (488) | | | 3 | | | 10,724 | | (488) | | Total | 3 | | | $2,130 | | ($6) | | | 99 | | | $493,660 | | ($100,065) | | | 102 | | | $495,790 | | ($100,071) | |
|