XML 33 R23.htm IDEA: XBRL DOCUMENT v3.25.1
Securities (Tables)
3 Months Ended
Mar. 31, 2025
Securities  
Schedule of amortized cost and fair value of investments classified as available-for-sale

The amortized cost and fair value of the Corporation’s investments are shown below. All securities are classified as available-for-sale.

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March 31, 2025

​

​

Amortized

​

Unrealized

​

Unrealized

​

​

​

(Dollar amounts in thousands)

​

Cost

    

Gains

    

Losses

    

Fair Value

U.S. Government agencies

​

$

88,079

​

$

4

​

$

(10,184)

​

$

77,899

Mortgage Backed Securities - residential

​

​

614,621

​

​

132

​

​

(78,911)

​

​

535,842

Mortgage Backed Securities - commercial

 

​

14,136

 

​

1

 

​

(415)

 

​

13,722

Collateralized mortgage obligations

 

​

184,919

 

​

28

 

​

(25,651)

 

​

159,296

State and municipal obligations

 

​

390,864

 

​

186

 

​

(34,596)

 

​

356,454

Municipal taxable

 

​

41,159

 

​

29

 

​

(4,808)

 

​

36,380

Collateralized debt obligations

 

​

—

 

​

2,902

 

​

—

 

​

2,902

TOTAL

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$

1,333,778

​

$

3,282

​

$

(154,565)

​

$

1,182,495

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

December 31, 2024

​

​

Amortized

​

Unrealized

​

Unrealized

​

​

​

(Dollar amounts in thousands)

​

Cost

    

Gains

    

Losses

    

Fair Value

U.S. Government agencies

​

$

90,649

​

$

3

​

$

(11,670)

​

$

78,982

Mortgage Backed Securities-residential

​

​

630,556

​

​

15

​

​

(89,251)

​

​

541,320

Mortgage Backed Securities-commercial

 

​

14,182

 

​

2

 

​

(523)

 

​

13,661

Collateralized mortgage obligations

 

​

190,552

 

​

29

 

​

(27,555)

 

​

163,026

State and municipal obligations

 

​

394,696

 

​

171

 

​

(34,539)

 

​

360,328

Municipal taxable

 

​

41,162

 

​

11

 

​

(5,396)

 

​

35,777

Collateralized debt obligations

 

​

—

 

​

2,896

 

​

—

 

​

2,896

TOTAL

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$

1,361,797

​

$

3,127

​

$

(168,934)

​

$

1,195,990

Schedule of contractual maturities of debt securities

Contractual maturities of debt securities at March 31, 2025 were as follows.

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Available-for-Sale

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​

Amortized

​

Fair

(Dollar amounts in thousands)

    

Cost

    

Value

Due in one year or less

​

$

10,832

​

$

10,694

Due after one but within five years

​

​

42,015

​

​

40,930

Due after five but within ten years

 

​

124,757

 

​

121,091

Due after ten years

 

​

342,498

 

​

300,920

​

 

​

520,102

 

​

473,635

Mortgage-backed securities and collateralized mortgage obligations

 

​

813,676

 

​

708,860

TOTAL

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$

1,333,778

​

$

1,182,495

Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position

The following tables show the securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at March 31, 2025 and December 31, 2024.

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​

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​

    

March 31, 2025

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​

Less Than 12 Months

    

More Than 12 Months

    

Total

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​

​

​

​

Unrealized

​

​

​

​

Unrealized

​

​

​

​

Unrealized

(Dollar amounts in thousands)

​

Fair Value

    

Losses

    

Fair Value

    

Losses

    

Fair Value

    

Losses

U.S. Government agencies

​

$

3,238

​

$

(73)

​

$

73,657

​

$

(10,111)

​

$

76,895

​

$

(10,184)

Mortgage Backed Securities - Residential

 

​

34,339

​

​

(574)

​

​

476,849

​

​

(78,337)

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​

511,188

​

​

(78,911)

Mortgage Backed Securities - Commercial

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​

6,979

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​

(125)

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​

5,439

​

​

(290)

​

​

12,418

​

​

(415)

Collateralized mortgage obligations

 

​

—

 

​

—

 

​

154,849

 

​

(25,651)

 

​

154,849

 

​

(25,651)

State and municipal obligations

 

​

70,922

​

​

(854)

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​

242,937

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​

(33,742)

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​

313,859

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​

(34,596)

Municipal taxable

 

​

814

 

​

(1)

 

​

32,483

 

​

(4,807)

 

​

33,297

 

​

(4,808)

U.S. Treasury

 

​

—

 

​

—

 

​

—

 

​

—

 

​

—

 

​

—

Total temporarily impaired securities

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$

116,292

​

$

(1,627)

​

$

986,214

​

$

(152,938)

​

$

1,102,506

​

$

(154,565)

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

December 31, 2024

​

​

Less Than 12 Months

    

More Than 12 Months

    

Total

​

​

​

​

​

Unrealized

​

​

​

​

Unrealized

​

​

​

​

Unrealized

(Dollar amounts in thousands)

    

Fair Value

    

Losses

    

Fair Value

    

Losses

    

Fair Value

    

Losses

U.S. Government agencies

​

$

3,696

​

$

(107)

​

$

74,636

​

$

(11,563)

​

$

78,332

​

$

(11,670)

Mortgage Backed Securities - Residential

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​

51,996

​

​

(1,113)

​

​

481,270

​

​

(88,138)

 

​

533,266

 

​

(89,251)

Mortgage Backed Securities - Commercial

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​

6,937

​

​

(161)

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​

5,388

​

​

(362)

​

​

12,325

​

​

(523)

Collateralized mortgage obligations

 

​

85

 

​

—

 

​

158,244

 

​

(27,555)

 

​

158,329

 

​

(27,555)

State and municipal obligations

​

​

89,321

​

​

(953)

​

​

232,247

​

​

(33,586)

 

​

321,568

 

​

(34,539)

Municipal taxable

 

​

1,587

 

​

(20)

 

​

31,918

 

​

(5,376)

 

​

33,505

 

​

(5,396)

Total temporarily impaired securities

​

$

153,622

​

$

(2,354)

​

$

983,703

​

$

(166,580)

​

$

1,137,325

​

$

(168,934)

Schedule of credit losses recognized in earnings

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The table below presents a rollforward of the credit losses recognized in earnings for the three month period ended March 31, 2025 and 2024:

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Three Months Ended March 31, 

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(Dollar amounts in thousands)

​

2025

    

2024

​

Beginning balance

​

$

2,974

​

$

2,974

​

Reductions for securities called during the period

​

​

—

 

​

—

​

Ending balance

​

$

2,974

​

$

2,974

​

​