Investment Securities (Tables)

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Amortized Cost, Estimated Fair Value and Allowance for Credit Losses of HTM Securities and AFS Securities by Contractual Maturities

The following table shows the amortized cost, the estimated fair value and the allowance for credit losses of the held-to-maturity securities and available-for-sale securities at March 31, 2025 and December 31, 2024, by contractual maturity within each type:

	At March 31, 2025
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
Securities Held-to-Maturity
Residential mortgage-backed securities:
After 1 year to 5 years	$	949	$	—	$	(17)	$	—	$	932
After 5 years to 10 years	10,842		—		(344)		—		10,498
Over 10 years	119,098		—		(16,101)		—		102,997
	130,889		—		(16,462)		—		114,427
Total	$	130,889	$	—	$	(16,462)	$	—	$	114,427
Securities Available-for-Sale
Residential mortgage-backed securities:
Within 1 year	$	13	$	—	$	—	$	—	$	13
After 1 year to 5 years	249		—		(5)		—		244
After 5 years to 10 years	10,690		—		(616)		—		10,074
Over 10 years	312,130		521		(32,816)		—		279,835
	323,082		521		(33,437)		—		290,166
Collateralized mortgage obligations:
After 1 year to 5 years	138		—		(3)		—		135
Over 10 years	1,606		—		(111)		—		1,495
	1,744		—		(114)		—		1,630
Corporate bonds:
Within 1 year	7,884		6		(87)		(10)		7,793
After 1 year to 5 years	9,923		42		(175)		(17)		9,773
After 5 years to 10 years	60,000		—		(4,140)		(719)		55,141
	77,807		48		(4,402)		(746)		72,707
Total	$	402,633	$	569	$	(37,953)	$	(746)	$	364,503

	At December 31, 2024
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
Securities Held-to-Maturity
Residential mortgage-backed securities:
After 1 year to 5 years	$	1,114	$	—	$	(24)	$	—	$	1,090
After 5 years to 10 years	10,208		—		(450)		—		9,758
Over 10 years	122,789		—		(18,630)		—		104,159
	134,111		—		(19,104)		—		115,007
Total	$	134,111	$	—	$	(19,104)	$	—	$	115,007
Securities Available-for-Sale
State and political subdivisions:
Within 1 year	$	1,300	$	—	$	(5)	$	—	$	1,295
	1,300		—		(5)		—		1,295
Residential mortgage-backed securities:
Within 1 year	20		—		—		—		20
After 1 year to 5 years	298		—		(6)		—		292
After 5 years to 10 years	11,260		—		(791)		—		10,469
Over 10 years	311,126		119		(38,645)		—		272,600
	322,704		119		(39,442)		—		283,381
Collateralized mortgage obligations:
After 1 year to 5 years	155		—		(4)		—		151
Over 10 years	1,663		—		(129)		—		1,534
	1,818		—		(133)		—		1,685
Corporate bonds:
Within 1 year	5,905		5		(58)		(6)		5,846
After 1 year to 5 years	10,924		16		(303)		(31)		10,606
After 5 years to 10 years	60,000		—		(4,650)		(802)		54,548
	76,829		21		(5,011)		(839)		71,000
Total	$	402,651	$	140	$	(44,591)	$	(839)	$	357,361

Amount of Securities in Unrealized Loss Position With No Allowance For Credit Losses

The following table shows the fair value of securities that were in an unrealized loss position for which an allowance for credit losses has not been recorded at March 31, 2025 and December 31, 2024, by the length of time those securities were in a continuous loss position.

	Less than Twelve Months				Twelve Months or Longer				Total
(Dollars in thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
At March 31, 2025
Securities Held-to-Maturity
Residential mortgage-backed securities	$	2,585	$	(18)	$	111,842	$	(16,444)	$	114,427	$	(16,462)
Total	$	2,585	$	(18)	$	111,842	$	(16,444)	$	114,427	$	(16,462)
Securities Available-for-Sale
Residential mortgage-backed securities	$	35,342	$	(323)	$	205,109	$	(33,114)	$	240,451	$	(33,437)
Collateralized mortgage obligations	—		—		1,630		(114)		1,630		(114)
Corporate bonds	994		(1)		—		—		994		(1)
Total	$	36,336	$	(324)	$	206,739	$	(33,228)	$	243,075	$	(33,552)
At December 31, 2024
Securities Held-to-Maturity
Residential mortgage-backed securities	$	2,566	$	(50)	$	112,441	$	(19,054)	$	115,007	$	(19,104)
Total	$	2,566	$	(50)	$	112,441	$	(19,054)	$	115,007	$	(19,104)
Securities Available-for-Sale
Residential mortgage-backed securities	$	65,044	$	(905)	$	205,071	$	(38,537)	$	270,115	$	(39,442)
Collateralized mortgage obligations	—		—		1,685		(133)		1,685		(133)
Total	$	65,044	$	(905)	$	206,756	$	(38,670)	$	271,800	$	(39,575)

Available-for-sale Securities, Allowance for Credit Loss Rollforward

The table below presents a rollforward by major security type for the three months ended March 31, 2025 and March 31, 2024 of the allowance for credit losses on securities available-for-sale.

(Dollars in thousands)	Corporate Bonds
Three months ended March 31, 2025
Securities Available-for-Sale
Beginning balance	$	(839)
Change in securities for which a previous expected credit loss was recognized	93
Ending balance	$	(746)
Three months ended March 31, 2024
Securities Available-for-Sale
Beginning balance	$	(731)
Change in securities for which a previous expected credit loss was recognized	(86)
Ending balance	$	(817)