Investment Securities (Tables)

3 Months Ended

Mar. 31, 2026

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:

			Gross Unrealized
(Dollars in thousands)	Amortized Cost		Gains		Losses		Fair Value
As of March 31, 2026
U.S. Government-sponsored securities	$	1,944	$	4	$	8	$	1,940
Mortgage-backed securities(1)		795,244		4,078		19,694		779,628
Commercial mortgage-backed obligations(1)		1,232		19		-		1,251
Collateralized mortgage obligations(1)		20,812		-		493		20,319
Municipal securities		66,548		2,262		19		68,791
Corporate securities		29,605		117		46		29,676
Other		310		-		-		310
Total available-for-sale securities	$	915,695	$	6,480	$	20,260	$	901,915

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

			Gross Unrealized
(Dollars in thousands)	Amortized Cost		Gains		Losses		Fair Value
As of December 31, 2025
U.S. Government-sponsored securities	$	2,046	$	2	$	10	$	2,038
Mortgage-backed securities(1)		834,820		9,140		17,720		826,240
Commercial mortgage-backed obligations(1)		1,231		22		-		1,253
Collateralized mortgage obligations(1)		21,087		5		362		20,730
Municipal securities		66,142		4,703		-		70,845
Corporate securities		29,567		171		-		29,738
Other		310		-		-		310
Total available-for-sale securities	$	955,203	$	14,043	$	18,092	$	951,154

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:

									Allowance
	Amortized		Gross Unrecognized						for Credit
(Dollars in thousands)	Cost		Gains		Losses		Fair Value		Losses
As of March 31, 2026
Mortgage-backed securities(1)	$	577,812	$	48	$	116,105	$	461,755	$	-
Collateralized mortgage obligations(1)		60,972		-		10,576		50,396		-
Municipal securities		69,489		927		1,053		69,363		450
Total held-to-maturity securities	$	708,273	$	975	$	127,734	$	581,514	$	450

									Allowance
	Amortized		Gross Unrecognized						for Credit
(Dollars in thousands)	Cost		Gains		Losses		Fair Value		Losses
As of December 31, 2025
Mortgage-backed securities(1)	$	586,001	$	88	$	115,773	$	470,316	$	-
Collateralized mortgage obligations(1)		62,476		-		10,234		52,242		-
Municipal securities		70,164		1,011		997		70,178		450
Total held-to-maturity securities	$	718,641	$	1,099	$	127,004	$	592,736	$	450

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

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:

					March 31, 2026
	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	$	359	$	1	$	563	$	7	$	922	$	8
Mortgage-backed securities(1)		418,622		2,277		67,673		17,417		486,295		19,694
Collateralized mortgage obligations(1)		14,911		269		5,408		224		20,319		493
Municipal securities		3,980		19		-		-		3,980		19
Corporate securities		9,689		46		-		-		9,689		46
Total available-for-sale securities	$	447,561	$	2,612	$	73,644	$	17,648	$	521,205	$	20,260

					December 31, 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	$	461	$	2	$	676	$	8	$	1,137	$	10
Mortgage-backed securities(1)		60,935		244		75,647		17,476		136,582		17,720
Collateralized mortgage obligations(1)		13,262		230		5,511		132		18,773		362
Total available-for-sale securities	$	74,658	$	476	$	81,834	$	17,616	$	156,492	$	18,092

⁽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:

	March 31, 2026
(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, 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

Amortized Cost and Estimated Fair Values of Investment Securities by Contractual Final Maturity

The amortized cost and estimated fair values of investment securities at March 31, 2026 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	$	10,659	$	10,673	$	2,108	$	2,107
After one year through five years		20,371		20,417		18,044		17,977
After five years through ten years		44,050		44,698		17,983		17,196
After ten years		840,615		826,127		670,138		544,234
Total	$	915,695	$	901,915	$	708,273	$	581,514

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
March 31, 2026
Municipal securities	$	18,414	$	937	$	50,138	$	69,489
Total	$	18,414	$	937	$	50,138	$	69,489

	Held-to-Maturity
	Amortized Cost
(Dollars in thousands)	AAA/AA/A			BBB/BB/B			Not Rated			Total
December 31, 2025
Municipal securities		$	18,562		$	935		$	50,667		$	70,164
Total		$	18,562		$	935		$	50,667		$	70,164

Proceeds from Sales and Calls of Investment Securities

Proceeds from sales and calls of investment securities were as follows:

	For the Three Months Ended March 31,
(Dollars in thousands)	2026		2025
Gross proceeds	$	-	$	160
Gross gains		-		-
Gross losses		-		-