The amortized cost and fair values of securities available for sale as of September 30, 2024, and December 31, 2023 are summarized as follows:


	September 30, 2024
	(Dollars in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Treasury Securities	$	17,646	$	-	$	880	$	16,766
U.S. Government Agencies	10,188		-		517		9,671
Corporate Securities	48,209		26		3,754		44,481
Mortgage-Backed Securities	590,034		4,724		34,692		560,066
Municipal Securities	308,519		378		23,790		285,107
Total Securities Available for Sale	$	974,596	$	5,128	$	63,633	$	916,091


	December 31, 2023
	(Dollars in thousands)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Treasury Securities	$	17,690	$	-	$	1,451	$	16,239
U.S. Government Agencies	10,258		-		848		9,410
Corporate Securities	49,609		-		5,770		43,839
Mortgage-Backed Securities	555,148		976		49,814		506,310
Municipal Securities	331,273		298		27,798		303,773
Total Securities Available for Sale	$	963,978	$	1,274	$	85,681	$	879,571

The following tables present a summary of securities with gross unrealized losses and fair values at September 30, 2024 and December 31, 2023, aggregated by investment category and length of time in a continued unrealized loss position. Due to the nature of these investments and current prevailing market prices, these unrealized losses are considered non-credit related.


	September 30, 2024
	Less Than 12 Months				12 Months or Greater				Total
	(Dollars in thousands)
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
U.S. Treasury Securities	$	-	$	-	$	16,766	$	880	$	16,766	$	880
U.S. Government Agencies	-		-		9,671		517		9,671		517
Corporate Securities	-		-		41,527		3,754		41,527		3,754
Mortgage-Backed Securities	1,765		11		360,330		34,681		362,095		34,692
Municipal Securities	4,144		16		251,079		23,774		255,223		23,790
Total Securities Available for Sale	$	5,909	$	27	$	679,373	$	63,606	$	685,282	$	63,633


	December 31, 2023
	Less Than 12 Months				12 Months or Greater				Total
	(Dollars in thousands)
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
U.S. Treasury Securities	$	-	$	-	$	16,239	$	1,451	$	16,239	$	1,451
U.S. Government Agencies	-		-		9,410		848		9,410		848
Corporate Securities	7,529		362		36,106		5,408		43,635		5,770
Mortgage-Backed Securities	21,436		895		375,891		48,919		397,327		49,814
Municipal Securities	8,013		63		270,467		27,735		278,480		27,798
Total Securities Available for Sale	$	36,978	$	1,320	$	708,113	$	84,361	$	745,091	$	85,681

As of September 30, 2024, and December 31, 2023, respectively, no allowance for credit losses was recognized on available for sale securities in an unrealized loss position as management does not believe any of the securities are impaired due to credit quality. This determination is based on the Company’s analysis of the underlying risk characteristics including credit ratings, historical loss experience, and other qualitative factors. Further, the securities

continue to make principal and interest payments under their contractual terms and management does not have the intent to sell any of the 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 amortized cost basis. Therefore, the Company has determined the unrealized losses are due to changes in market interest rates compared to rates when the securities were acquired.

The amortized cost and fair values of securities available for sale as of September 30, 2024, by contractual maturity are shown below. Actual maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities may be called or repaid without any penalties.


	Amortized Cost		Fair Value
	(Dollars in thousands)
Less Than One Year	$	26,315	$	26,048
One to Five Years	193,423		183,972
Over Five to Ten Years	353,833		330,029
Over Ten Years	401,025		376,042
Total Securities Available for Sale	$	974,596	$	916,091

Securities available for sale with a fair value of $347.2 million and $629.7 million, were pledged as collateral on public deposits and for other purposes as required or permitted by law as of September 30, 2024, and December 31, 2023, respectively.

At September 30, 2024 and December 31, 2023, accrued interest receivable on securities was $3.8 million and $4.7 million, respectively, and is included within accrued interest receivable on the consolidated balance sheets.