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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 Securities Available-for-Sale and Held-to-Maturity
The amortized cost and estimated fair value of securities available-for-sale and held-to-maturity along with gross unrealized gains and losses are summarized as follows:
(dollars in thousands)
March 31, 2025Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Available-for-Sale:
U.S. treasury securities$10,959 $— $(5)$10,954 
U.S. agency securities2,933 — (179)2,754 
Asset backed securities15,868 16 (160)15,724 
State, county & municipal securities110,630 — (14,106)96,524 
Corporate debt securities53,317 (5,129)48,194 
Mortgage-backed securities224,960 593 (18,998)206,555 
Total$418,667 $615 $(38,577)$380,705 
March 31, 2025Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Held-to-Maturity:
U.S. treasury securities$85,394 $— $(1,981)$83,413 
U.S. agency securities16,117 — (995)15,122 
State, county & municipal securities137,291 — (14,623)122,668 
Mortgage-backed securities183,092 — (23,784)159,308 
Total$421,894 $— $(41,383)$380,511 
December 31, 2024Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Available-for-Sale:
U.S. treasury securities$3,173 $— $— $3,173 
U.S. agency securities3,001 — (246)2,755 
Asset backed securities17,925 17 (118)17,824 
State, county & municipal securities110,952 — (15,315)95,637 
Corporate debt securities53,324 (5,543)47,782 
Mortgage-backed securities221,005 207 (22,334)198,878 
Total$409,380 $225 $(43,556)$366,049 
December 31, 2024Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
Securities Held-to-Maturity:
U.S. treasury securities$91,004 $— $(2,828)$88,176 
U.S. agency securities16,151 — (1,263)14,888 
State, county & municipal securities137,190 — (15,915)121,275 
Mortgage-backed securities185,732 — (27,051)158,681 
Total$430,077 $— $(47,057)$383,020 
Schedule of Mortgage-Backed Securities This is often the case with mortgage-backed securities, which are disclosed separately in the table below.
Available-for-SaleHeld-to-Maturity
(dollars in thousands)Amortized CostFair ValueAmortized CostFair Value
Due in one year or less$15,958 $15,924 $39,488 $39,254 
Due after one year through five years19,805 18,460 60,429 58,308 
Due after five years through ten years93,761 82,203 73,041 66,033 
Due after ten years64,183 57,563 65,844 57,608 
$193,707 $174,150 $238,802 $221,203 
Mortgage-backed securities224,960 206,555 183,092 159,308 
$418,667 $380,705 $421,894 $380,511 
Schedule of Continuous Unrealized Loss Position
Information pertaining to available-for-sale securities with gross unrealized losses at March 31, 2025 and December 31, 2024 aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows:
Less Than 12 Months12 Months or GreaterTotal
(dollars in thousands)Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
March 31, 2025
U.S. treasury securities$10,954 $(5)$— $— $10,954 $(5)
U.S. agency securities— — 2,754 (179)2,754 (179)
Asset backed securities4,147 (28)8,438 (132)12,585 (160)
State, county & municipal securities42,007 (5,604)54,517 (8,502)96,524 (14,106)
Corporate debt securities4,287 (466)43,401 (4,663)47,688 (5,129)
Mortgage-backed securities6,758 (88)156,309 (18,910)163,067 (18,998)
$68,153 $(6,191)$265,419 $(32,386)$333,572 $(38,577)
December 31, 2024
U.S. treasury securities$— $— $— $— $— $— 
U.S. agency securities— — 2,755 (246)2,755 (246)
Asset backed securities3,715 (8)8,269 (110)11,984 (118)
State, county & municipal securities2,829 (294)92,808 (15,021)95,637 (15,315)
Corporate debt securities4,434 (720)42,847 (4,823)47,281 (5,543)
Mortgage-backed securities21,278 (430)160,343 (21,904)181,621 (22,334)
$32,256 $(1,452)$307,022 $(42,104)$339,278 $(43,556)
Information pertaining to held-to-maturity securities with gross unrealized losses at March 31, 2025 and December 31, 2024 aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows:
Less Than 12 Months12 Months or GreaterTotal
(dollars in thousands)Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
March 31, 2025
U.S. treasury securities$— $— $83,413 $(1,981)$83,413 $(1,981)
U.S. agency securities— — 15,122 (995)15,122 (995)
State, county & municipal securities49,154 (5,717)73,514 (8,906)122,668 (14,623)
Mortgage-backed securities— — 159,308 (23,784)159,308 (23,784)
$49,154 $(5,717)$331,357 $(35,666)$380,511 $(41,383)
December 31, 2024
U.S. treasury securities$— $— $88,176 $(2,828)$88,176 $(2,828)
U.S. agency securities— — 14,888 (1,263)14,888 (1,263)
State, county & municipal securities18,751 (374)102,524 (15,541)121,275 (15,915)
Mortgage-backed securities— — 158,681 (27,051)158,681 (27,051)
$18,751 $(374)$364,269 $(46,683)$383,020 $(47,057)