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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2025
Investment Securities [Abstract]  
Amortized Cost, Fair Values, and Unrealized Gains and Losses of Securities Available-for-Sale
The amortized cost, fair values, and unrealized gains and losses of the securities available-for-sale are as follows:

 
  
Amortized
    
Gross Unrealized
        
(Dollars in thousands)
  
Cost
    
Gains
    
Losses
    
Fair Value
  
As of June 30, 2025
                        
U.S. Government-sponsored securities
  
$
2,291
    
$
5
    
$
11
    
$
2,285
  
Mortgage-backed securities(1)
    
564,312
      
3,564
      
21,175
      
546,701
  
Commercial mortgage-backed obligations(1)
    
1,230
      
8
      
-
      
1,238
  
Collateralized mortgage obligations(1)
    
7,622
      
-
      
144
      
7,478
  
Corporate securities
    
14,829
      
126
      
16
      
14,939
  
Other
    
310
      
-
      
-
      
310
  
Total available-for-sale securities
  
$
590,594
    
$
3,703
    
$
21,346
    
$
572,951
  

(1) All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government.

 
  
Amortized
    
Gross Unrealized
    
 
(Dollars in thousands)
  
Cost
    
Gains
    
Losses
    
Fair Value
  
As of December 31, 2024
                        
U.S. Government-sponsored securities
  
$
2,657
    
$
4
    
$
17
    
$
2,644
  
Mortgage-backed securities(1)
    
466,302
      
464
      
26,908
      
439,858
  
Commercial mortgage-backed obligations(1)
    
1,228
      
-
      
16
      
1,212
  
Collateralized mortgage obligations(1)
    
5,653
      
-
      
156
      
5,497
  
Corporate securities
    
14,800
      
56
      
-
      
14,856
  
Other
    
352
      
-
      
5
      
347
  
Total available-for-sale securities
  
$
490,992
    
$
524
    
$
27,102
    
$
464,414
  
Book Values, Estimated Fair Values and Unrealized Gains and Losses of Investments Classified as Held-To-Maturity
The book values, estimated fair values and unrecognized gains and losses of investments classified as held-to-maturity are as follows:

 
  
Amortized
    
Gross Unrecognized
          
Allowance
for Credit
  
(Dollars in thousands)
  
Cost
    
Gains
    
Losses
    
Fair Value
    
Losses
  
As of June 30, 2025
                              
Mortgage-backed securities(1)
  
$
608,903
    
$
17
    
$
130,114
    
$
478,806
    
$
-
  
Collateralized mortgage obligations(1)
    
65,146
      
-
      
11,609
      
53,537
      
-
  
Municipal securities
    
74,812
      
928
      
1,380
      
74,360
      
450
  
Total held-to-maturity securities
  
$
748,861
    
$
945
    
$
143,103
    
$
606,703
    
$
450
  

(1) All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government.

 
                          
Allowance
  
 
  
Amortized
    
Gross Unrecognized
          
for Credit
  
(Dollars in thousands)
  
Cost
    
Gains
    
Losses
    
Fair Value
    
Losses
  
As of December 31, 2024
                              
Mortgage-backed securities(1)
  
$
626,427
    
$
-
    
$
143,544
    
$
482,883
    
$
-
  
Collateralized mortgage obligations(1)
    
68,377
      
-
      
13,876
      
54,501
      
-
  
Municipal securities
    
74,639
      
46
      
1,116
      
73,569
      
450
  
Total held-to-maturity securities
  
$
769,443
    
$
46
    
$
158,536
    
$
610,953
    
$
450
  
Gross Unrealized Losses for Available-for-Sale Securities
The following tables show the gross unrealized losses for available-for-sale securities, for which an allowance for credit losses has not been recorded, that have been in an unrealized loss position for less than 12 months or 12 months or more:
    June 30, 2025  
   
Less Than 12 Months
    
12 Months or More
    
Total
  
(Dollars in thousands)
  
Fair Value
    
Unrealized Losses
    
Fair Value
    
Unrealized Losses
    
Fair Value
    
Unrealized Losses
  
Available-for-Sale Securities
                                    
U.S. Government-sponsored securities
  
$
84
    
$
-
    
$
739
    
$
11
    
$
823
    
$
11
  
Mortgage-backed securities(1)
    
233,824
      
1,723
      
65,200
      
19,452
      
299,024
      
21,175
  
Commerical mortgage-backed securities(1)
    
-
      
-
      
-
      
-
      
-
      
-
  
Collateralized mortgage obligations(1)
    
7,067
      
136
      
411
      
8
      
7,478
      
144
  
Corporate securities
    
4,994
      
16
      
-
      
-
      
4,994
      
16
  
Total available-for-sale securities
  
$
245,969
    
$
1,875
    
$
66,350
    
$
19,471
    
$
312,319
    
$
21,346
  
    December 31, 2024  
   
Less Than 12 Months
    
12 Months or More
    
Total
  
(Dollars in thousands)
  
Fair Value
    
Unrealized Losses
    
Fair Value
    
Unrealized Losses
    
Fair Value
    
Unrealized Losses
  
Available-for-Sale Securities
                                    
U.S. Government-sponsored securities
  
$
600
    
$
1
    
$
888
    
$
16
    
$
1,488
    
$
17
  
Mortgage-backed securities(1)
    
324,202
      
5,772
      
67,319
      
21,136
      
391,521
      
26,908
  
Commerical mortgage-backed securities(1)
    
1,212
      
16
      
-
      
-
      
1,212
      
16
  
Collateralized mortgage obligations(1)
    
5,043
      
147
      
454
      
9
      
5,497
      
156
  
Corporate securities
    
347
      
5
      
-
      
-
      
347
      
5
  
Total available-for-sale securities
  
$
331,404
    
$
5,941
    
$
68,661
    
$
21,161
    
$
400,065
    
$
27,102
  

(1) All mortgage-backed securities and collateralized mortgage obligations were issued by an agency or government sponsored entity of the U.S. Government.
Activity in Allowance for Credit Losses for Held-to-Maturity Securities by Major Type
The following tables present the activity in the allowance for credit losses for held-to-maturity securities by major type:

   
June 30, 2025
  
(Dollars in thousands)
  
Municipal securities
    
Mortgage-backed
securities
    
Collateralized mortgage obligations
    
Total
  
Allowance for credit losses - securities
                        
Beginning balance
  
$
450
    
$
-
    
$
-
    
$
450
  
Provision for credit losses
    
-
      
-
      
-
      
-
  
Ending balance
  
$
450
    
$
-
    
$
-
    
$
450
  

 
  
December 31, 2024
  
(Dollars in thousands)
  
Municipal securities
    
Mortgage-backed
securities
    
Collateralized mortgage obligations
    
Total
  
Allowance for credit losses - securities
                        
Beginning balance
  
$
450
    
$
-
    
$
-
    
$
450
  
Provision for credit losses
    
-
      
-
      
-
      
-
  
Ending balance
  
$
450
    
$
-
    
$
-
    
$
450
  
Amortized Cost and Estimated Fair Values of Investment Securities by Contractual Final Maturity
The amortized cost and estimated fair values of investment securities at June 30, 2025 by contractual final maturity are shown in the following table:

   
Available-for-Sale
    
Held-to-Maturity
  
(Dollars in thousands)
  
Amortized Cost
    
Fair Value
    
Amortized Cost
    
Fair Value
  
Securities maturing in:
                        
One year or less
  
$
360
    
$
359
    
$
1,236
    
$
1,218
  
After one year through five years
    
16,976
      
17,053
      
24,230
      
23,831
  
After five years through ten years
    
2,960
      
2,934
      
17,763
      
16,662
  
After ten years
    
570,298
      
552,605
      
705,632
      
564,992
  
Total
  
$
590,594
    
$
572,951
    
$
748,861
    
$
606,703
  
Amortized Cost of Held-to-Maturity Municipal Securities by Credit Rating
The following tables summarize the amortized cost of held-to-maturity municipal securities by credit rating as of the dates indicated:

   
Held-to-Maturity
        
   
Amortized Cost
        
(Dollars in thousands)
  
AAA/AA/A
    
BBB/BB/B
    
Not Rated
    
Total
  
June 30, 2025
                        
 
                        
Municipal securities
  
$
19,044
    
$
931
    
$
54,837
    
$
74,812
  
Total
  
$
19,044
    
$
931
    
$
54,837
    
$
74,812
  

 
  
Held-to-Maturity
        
 
  
Amortized Cost
        
(Dollars in thousands)
  
AAA/AA/A
    
BBB/BB/B
    
Not Rated
    
Total
  
December 31, 2024
                        
 
                        
Municipal securities
  
$
19,022
    
$
403
    
$
55,214
    
$
74,639
  
Total
  
$
19,022
    
$
403
    
$
55,214
    
$
74,639
  
Proceeds from Sales and Calls of Investment Securities
Proceeds from sales and calls of investment securities were as follows:

(Dollars in thousands)
  
Gross Proceeds
    
Gross Gains
    
Gross Losses
  
Six months ended June 30, 2025
  
$
460
    
$
-
    
$
-
  
Six months ended June 30, 2024
  
$
575
    
$
-
    
$
-