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INVESTMENT SECURITIES (Tables)
12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale
The amortized cost and estimated fair value of securities available-for-sale along with allowance for credit losses, gross unrealized gains and losses are summarized as follows:

(dollars in thousands)
Securities available-for-sale
Amortized CostAllowance for Credit LossesGross Unrealized GainsGross Unrealized Losses
Estimated
Fair
Value
December 31, 2024
U.S. Treasuries$800,860 $— $669 $(5,065)$796,464 
U.S. government-sponsored agencies1,010 — — (16)994 
State, county and municipal securities25,802 — (1,070)24,740 
Corporate debt securities10,946 (69)— (594)10,283 
SBA pool securities72,036 — — (1,554)70,482 
Mortgage-backed securities797,542 — 1,494 (30,739)768,297 
Total debt securities available-for-sale$1,708,196 $(69)$2,171 $(39,038)$1,671,260 
December 31, 2023
U.S. Treasuries$732,636 $— $34 $(11,793)$720,877 
U.S. government-sponsored agencies1,023 — — (38)985 
State, county and municipal securities28,986 — (944)28,051 
Corporate debt securities10,946 (69)— (850)10,027 
SBA pool securities53,033 — (1,519)51,516 
Mortgage-backed securities621,013 — 67 (29,592)591,488 
Total debt securities available-for-sale$1,447,637 $(69)$112 $(44,736)$1,402,944 
The following table is a summary of sales activities in the Company's investment securities available for sale:
For the Years Ended December 31,
(dollars in thousands)202420232022
Gross losses on sales of securities $— $(310)$— 
Net realized losses on sales of securities available for sale $— $(310)$— 
Sales proceeds$— $5,141 $— 
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities Held-to-Maturity
The amortized cost and estimated fair value of securities held-to-maturity along with gross unrealized gains and losses are summarized as follows:

(dollars in thousands)
Securities held-to-maturity
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
December 31, 2024
State, county and municipal securities$33,623 $— $(6,214)$27,409 
Mortgage-backed securities131,054 80 (14,515)116,619 
Total debt securities held-to-maturity$164,677 $80 $(20,729)$144,028 
December 31, 2023
State, county and municipal securities$31,905 $— $(5,051)$26,854 
Mortgage-backed securities109,607 — (13,730)95,877 
Total debt securities held-to-maturity$141,512 $— $(18,781)$122,731 
Schedule of Amortized Cost and Fair Value of Available for Sale Securities by Contractual Maturity
The amortized cost and estimated fair value of debt securities available-for-sale and held-to-maturity as of December 31, 2024, by contractual maturity are shown below. Maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities may be called or repaid without penalty. Therefore, these securities are not included in the maturity categories in the following maturity summary.
Available-for-SaleHeld-to-Maturity
(dollars in thousands)
Amortized
Cost
Estimated
Fair
Value
Amortized
Cost
Estimated
Fair
Value
Due in one year or less$309,442 $307,875 $— $— 
Due from one year to five years474,765 471,711 — — 
Due from five to ten years115,347 113,511 — — 
Due after ten years11,100 9,866 33,623 27,409 
Mortgage-backed securities797,542 768,297 131,054 116,619 
$1,708,196 $1,671,260 $164,677 $144,028 
Schedule of Gross Unrealized Losses and Fair Value of Securities
The following table shows the gross unrealized losses and estimated fair value of available-for-sale securities aggregated by category and length of time that securities have been in a continuous unrealized loss position at December 31, 2024 and 2023.

Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)
Securities available-for-sale
Estimated
Fair
Value
Unrealized LossesEstimated
Fair
Value
Unrealized LossesEstimated
Fair
Value
Unrealized Losses
December 31, 2024
U.S. Treasuries$272,564 $(1,376)$353,787 $(3,689)$626,351 $(5,065)
U.S. government-sponsored agencies— — 994 (16)994 (16)
State, county and municipal securities3,953 (17)15,940 (1,053)19,893 (1,070)
Corporate debt securities383 (13)8,400 (581)8,783 (594)
SBA pool securities52,850 (322)17,491 (1,232)70,341 (1,554)
Mortgage-backed securities177,438 (1,968)481,617 (28,771)659,055 (30,739)
Total debt securities$507,188 $(3,696)$878,229 $(35,342)$1,385,417 $(39,038)
December 31, 2023
U.S. Treasuries$159,667 $(827)$537,313 $(10,966)$696,980 $(11,793)
U. S. government sponsored agencies— — 985 (38)985 (38)
State, county and municipal securities1,923 — 19,754 (944)21,677 (944)
Corporate debt securities500 — 8,527 (850)9,027 (850)
SBA pool securities42 — 21,267 (1,519)21,309 (1,519)
Mortgage-backed securities126 — 566,707 (29,592)566,833 (29,592)
Total debt securities$162,258 $(827)$1,154,553 $(43,909)$1,316,811 $(44,736)
Schedule of Held-to-Maturity Securities with Unrealized Losses
The following table shows the gross unrealized losses and estimated fair value of held-to-maturity securities aggregated by category and length of time that securities have been in a continuous unrealized loss position at December 31, 2024 and 2023:
 Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)
Securities held-to-maturity
Estimated
Fair
Value
Unrealized
Losses
Estimated
Fair
Value
Unrealized
Losses
Estimated
Fair
Value
Unrealized
Losses
December 31, 2024
State, county and municipal securities$1,702 $(49)$25,707 $(6,165)$27,409 $(6,214)
Mortgage-backed securities22,710 (848)79,366 (13,667)102,076 (14,515)
Total debt securities held-to-maturity$24,412 $(897)$105,073 $(19,832)$129,485 $(20,729)
December 31, 2023
State, county and municipal securities$— $— $26,854 $(5,051)$26,854 $(5,051)
Mortgage-backed securities13,612 (227)82,265 (13,503)95,877 (13,730)
Total debt securities held-to-maturity$13,612 $(227)$109,119 $(18,554)$122,731 $(18,781)
Schedule of Investments Available-for-sale, Allowance for Credit Loss The remaining $39.0 million in unrealized loss was determined to be from factors other than credit, primarily changes in market interest rates.
For the Years Ended December 31,
(dollars in thousands)202420232022
Allowance for credit losses
Beginning balance$69 $75 $— 
Current-period provision for expected credit losses— (6)75 
Ending balance$69 $69 $75 
Schedule of Gain (Loss) on Investments
Net gain on securities reported on the consolidated statements of income is comprised of the following:
For the Years Ended December 31,
(dollars in thousands)202420232022
Net realized losses on sales of securities available-for-sale$— $(310)$— 
Unrealized holding gains (losses) on equity securities(10)(67)
Net realized gains on sales of other investments12,314 — 270 
Net gain (loss) on securities$12,304 $(304)$203