SECURITIES (Tables)

9 Months Ended

Sep. 30, 2025

SECURITIES [Abstract]

Amortized Cost and Fair Value of Securities with Gross Unrealized Gains and Losses

A summary of the amortized cost, related gross unrealized gains and losses, allowance for credit losses, and estimated fair value of securities available for sale at the dates indicated is presented below (dollars in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Allowance for Credit Losses		Fair Value
September 30, 2025
Available for sale:
State and municipal	$	200,414	$	350	$	(25,617	)	$	—	$	175,147
Residential mortgage-backed securities		308,335		118		(44,427	)		—		264,026
Commercial mortgage-backed securities		47,584		—		(4,288	)		—		43,296
Commercial collateralized mortgage obligations		68,213		73		(197	)		—		68,089
Asset-backed and other amortizing securities		14,617		—		(912	)		—		13,705
Other securities		7,000		—		(125	)		—		6,875
	$	646,163	$	541	$	(75,566	)	$	—	$	571,138
December 31, 2024
Available for sale:
State and municipal	$	199,588	$	1	$	(26,292	)	$	—	$	173,297
Residential mortgage-backed securities		321,021		—		(56,925	)		—		264,096
Commercial mortgage-backed securities		46,601		—		(6,241	)		—		40,360
Commercial collateralized mortgage obligations		73,697		—		(214	)		—		73,483
Asset-backed and other amortizing securities		16,107		—		(1,526	)		—		14,581
Other securities		12,000		—		(577	)		—		11,423
	$	669,014	$	1	$	(91,775	)	$	—	$	577,240

Amortized Cost and Fair Value of Securities by Contractual Maturity

The amortized cost and estimated fair value of securities at September 30, 2025 are presented below by contractual maturity (dollars in thousands). Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Declining-balance securities are shown separately since they are not due at a single maturity date.

	Available for Sale
	Amortized Cost		Fair Value
Within 1 year	$	205	$	205
After 1 year through 5 years		5,490		5,421
After 5 years through 10 years		19,867		18,951
After 10 years		181,852		157,445
Declining-balance securities		438,749		389,116
	$	646,163	$	571,138

Securities with Unrealized Losses Segregated by the Period in a Loss Position

The following table segregates securities with unrealized losses at the periods indicated, by the duration they have been in a loss position for which an allowance for credit losses has not been recorded (dollars in thousands):

	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
September 30, 2025
State and municipal	$	205	$	—	$	164,102	$	25,617	$	164,307	$	25,617
Residential mortgage-backed securities		—		—		255,160		44,427		255,160		44,427
Commercial mortgage-backed securities		1,976		7		41,321		4,281		43,297		4,288
Commercial collateralized mortgage obligations		63,443		197		—		—		63,443		197
Asset-backed and other amortizing securities		—		—		13,705		912		13,705		912
Other securities		—		—		6,875		125		6,875		125
	$	65,624	$	204	$	481,163	$	75,362	$	546,787	$	75,566
December 31, 2024
State and municipal	$	205	$	1	$	171,306	$	26,291	$	171,511	$	26,292
Residential mortgage-backed securities		8		—		264,088		56,925		264,096		56,925
Commercial mortgage-backed securities		—		—		40,360		6,241		40,360		6,241
Commercial collateralized mortgage obligations		73,483		214		—		—		73,483		214
Asset-backed and other amortizing securities		—		—		14,581		1,526		14,581		1,526
Other securities		—		—		11,423		577		11,423		577
	$	73,696	$	215	$	501,758	$	91,560	$	575,454	$	91,775