Securities (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Securities Reconciliation

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

Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

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

Schedule of Investments Classified by Contractual Maturity Date

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