The Company held marketable equity securities with fair values of $13.0 million and $13.2 million at September 30, 2024 and December 31, 2023, respectively. The gross realized and unrealized gains (losses) recognized on marketable equity securities in other operating income in the Company's Consolidated Statements of Income were as follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
(In Thousands)	2024	2023	2024	2023
Unrealized gain (loss) on marketable equity securities	$576	$12	$830	($445)

Total	$576	$12	$830	($445)

Debt securities have been classified in the financial statements as available for sale or held to maturity. The following table summarizes the amortized cost, estimated fair value, and the Allowance for Credit Losses (“ACL”) of debt securities and the corresponding amounts of gross unrealized gains and losses of available-for-sale securities recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses of held to maturity securities at the periods indicated:


(In Thousands)	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Allowance for Credit Losses	Fair Value
September 30, 2024
Securities available for sale
U.S. Treasury and government sponsored entities	$500,436	$1,094	($11,607)	$—	$489,923


Corporate bonds	9,011	20	(229)	—	8,802
Collateralized loan obligations	46,405	87	(7)	—	46,485
Total securities available for sale	$555,852	$1,201	($11,843)	$—	$545,210


(In Thousands)	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Fair Value
September 30, 2024
Securities held to maturity
Corporate bonds	$36,750	$—	($2,135)	$34,615
Allowance for credit losses	—	—	—	—
Total securities held to maturity, net of ACL	$36,750	$—	($2,135)	$34,615


(In Thousands)	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Allowance for Credit Losses	Fair Value
December 31, 2023
Securities available for sale
U.S. Treasury and government sponsored entities	$587,639	$451	($23,965)	$—	$564,125
Municipal securities	820	—	(4)	—	816

Corporate bonds	14,014	28	(418)	—	13,624
Collateralized loan obligations	59,795	12	(436)	—	59,371
Total securities available for sale	$662,268	$491	($24,823)	$—	$637,936


(In Thousands)	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Fair Value
December 31, 2023
Securities held to maturity
Corporate bonds	$36,750	$—	($3,337)	$33,413
Allowance for credit losses	—	—	—	—
Total securities held to maturity, net of ACL	$36,750	$—	($3,337)	$33,413

Gross unrealized losses on available for sale securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2024 and December 31, 2023 were as follows:


	Less Than 12 Months		More Than 12 Months		Total
(In Thousands)	Fair Value	Unrealized Losses	Fair Value	Unrealized Losses	Fair Value	Unrealized Losses
September 30, 2024
Securities available for sale
U.S. Treasury and government sponsored entities	$9,991	($9)	$434,211	($11,598)	$444,202	($11,607)
Corporate bonds	—	—	4,783	(229)	4,783	(229)
Collateralized loan obligations	—	—	4,988	(7)	4,988	(7)



Total	$9,991	($9)	$443,982	($11,834)	$453,973	($11,843)




December 31, 2023:
Securities available for sale
U.S. Treasury and government sponsored entities	$9,997	($3)	$528,574	($23,962)	$538,571	($23,965)
Corporate bonds	—	—	6,599	(418)	6,599	(418)
Collateralized loan obligations	3,909	(91)	43,149	(345)	47,058	(436)
Municipal securities	—	—	816	(4)	816	(4)

Total	$13,906	($94)	$579,138	($24,729)	$593,044	($24,823)

Management evaluates available for sale debt securities in unrealized loss positions to determine whether the impairment is due to credit-related factors or noncredit-related factors. Consideration is given to the extent to which the fair value is less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for any anticipated recovery in fair value.

At September 30, 2024, the Company had 50 available for sale securities in an unrealized loss position without an ACL. At September 30, 2024, the Company had five held to maturity securities in an unrealized loss position without an ACL. Management does not have the intent to sell any of these securities and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost. The fair value is expected to recover as the securities approach their maturity date or repricing date or if market yields for such investments decline. Accordingly, as of September 30, 2024, management believes that the unrealized losses detailed in the previous table are due to noncredit-related factors, primarily changes in interest rates, and therefore no losses have been recognized in the Company's Consolidated Statements of Income.

The amortized cost and estimated fair values of debt securities at September 30, 2024, are distributed by contractual maturity as shown below. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.


(In Thousands)	Amortized Cost	Fair Value
US Treasury and government sponsored entities
Within 1 year	$176,092	$174,118
1-5 years	324,344	315,805

Total	$500,436	$489,923






Corporate bonds
Within 1 year	$3,999	$4,019
1-5 years	15,012	14,722
5-10 years	26,750	24,676
Total	$45,761	$43,417
Collateralized loan obligations

5-10 years	$27,405	$27,432
Over 10 years	19,000	19,053
Total	$46,405	$46,485


	Three Months Ended September 30,		Nine Months Ended September 30,
(In Thousands)	2024	2023	2024	2023
US Treasury and government sponsored entities	$2,443	$2,794	$7,511	$8,424

Other	965	1,214	3,168	3,505
Total taxable interest income	$3,408	$4,008	$10,679	$11,929
Municipal securities	$—	$4	$3	$13
Total tax-exempt interest income	$—	$4	$3	$13
Total	$3,408	$4,012	$10,682	$11,942