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INVESTMENT SECURITIES (Tables)
3 Months Ended
Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale
The amortized cost and estimated fair value of securities available-for-sale along with gross unrealized gains and losses are summarized as follows:

(dollars in thousands)
Securities available-for-sale
Amortized
Cost
Allowance for Credit LossesGross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair
Value
March 31, 2025
U.S. Treasuries$926,330 $— $5,009 $(1,421)$929,918 
U.S. government-sponsored agencies1,007 — — (11)996 
State, county and municipal securities25,734 — (976)24,763 
Corporate debt securities10,946 (69)— (435)10,442 
SBA pool securities66,747 — 47 (1,084)65,710 
Mortgage-backed securities928,274 — 4,765 (21,857)911,182 
Total debt securities available-for-sale$1,959,038 $(69)$9,826 $(25,784)$1,943,011 
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 
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
March 31, 2025
State, county and municipal securities$33,597 $— $(6,960)$26,637 
Mortgage-backed securities140,160 266 (12,204)128,222 
Total debt securities held-to-maturity$173,757 $266 $(19,164)$154,859 
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 
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities, Classified by Contractual Maturity Date
The amortized cost and estimated fair value of debt securities available-for-sale and held-to-maturity as of March 31, 2025, by contractual maturity are shown below. Maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying these 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 ValueAmortized
Cost
Estimated Fair Value
Due in one year or less$309,115 $308,492 $— $— 
Due from one year to five years599,286 602,368 — — 
Due from five to ten years114,430 113,835 — — 
Due after ten years7,933 7,134 33,597 26,637 
Mortgage-backed securities928,274 911,182 140,160 128,222 
 $1,959,038 $1,943,011 $173,757 $154,859 
Schedule of Available-for-Sale Securities with Unrealized Losses
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 March 31, 2025 and December 31, 2024:

 Less Than 12 Months12 Months or MoreTotal
(dollars in thousands)
Securities available-for-sale
Estimated
Fair
Value
Unrealized
Losses
Estimated
Fair
Value
Unrealized
Losses
Estimated
Fair
Value
Unrealized
Losses
March 31, 2025      
U.S. Treasuries$125,476 $(88)$329,568 $(1,333)$455,044 $(1,421)
U.S. government-sponsored agencies— — 996 (11)996 (11)
State, county and municipal securities512 (6)15,959 (970)16,471 (976)
Corporate debt securities395 (1)8,547 (434)8,942 (435)
SBA pool securities36 — 40,438 (1,084)40,474 (1,084)
Mortgage-backed securities87,618 (707)494,731 (21,150)582,349 (21,857)
Total debt securities available-for-sale$214,037 $(802)$890,239 $(24,982)$1,104,276 $(25,784)
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 available-for-sale$507,188 $(3,696)$878,229 $(35,342)$1,385,417 $(39,038)
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 March 31, 2025 and December 31, 2024:

 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
March 31, 2025
State, county and municipal securities$— $— $26,637 $(6,960)$26,637 $(6,960)
Mortgage-backed securities24,170 (339)80,396 (11,865)104,566 (12,204)
Total debt securities held-to-maturity$24,170 $(339)$107,033 $(18,825)$131,203 $(19,164)
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)
Schedule of Investments Available-for-sale, Allowance for Credit Loss The remaining $25.8 million in unrealized loss was determined to be from factors other than credit.
(dollars in thousands)Three Months Ended March 31,
Allowance for credit losses
20252024
Beginning balance$69 $69 
Provision for other credit losses— 
Ending balance$69 $73 
Schedule of Gain (Loss) on Investments
Total net gain (loss) on securities reported on the consolidated statements of income and comprehensive income is comprised of the following for the three months ended March 31, 2025 and 2024:

Three Months Ended March 31,
(dollars in thousands)20252024
Unrealized holding gains (losses) on equity securities$40 $(7)
Net gain (loss) on securities$40 $(7)