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Securities (Tables)
12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and fair value of securities available for sale
The amortized cost and fair value of securities available for sale were as follows as of the dates presented:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
December 31, 2024
Obligations of states and political subdivisions$20,266 $57 $(2,269)$18,054 
Residential mortgage-backed securities:
Government agency mortgage-backed securities185,292 81 (24,468)160,905 
Government agency collateralized mortgage obligations475,311 75 (86,870)388,516 
Commercial mortgage-backed securities:
Government agency mortgage-backed securities11,373 — (751)10,622 
Government agency collateralized mortgage obligations146,510 41 (21,595)124,956 
Other debt securities130,175 440 (2,655)127,960 
$968,927 $694 $(138,608)$831,013 
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
December 31, 2023
Obligations of states and political subdivisions$36,374 $119 $(1,883)$34,610 
Residential mortgage-backed securities:
Government agency mortgage-backed securities301,400 172 (24,968)276,604 
Government agency collateralized mortgage obligations485,164 — (85,883)399,281 
Commercial mortgage-backed securities:
Government agency mortgage-backed securities6,029 — (637)5,392 
Government agency collateralized mortgage obligations161,299 24 (21,965)139,358 
Other debt securities72,383 109 (4,458)68,034 
$1,062,649 $424 $(139,794)$923,279 
The amortized cost and fair value of securities held to maturity were as follows as of the dates presented:
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
December 31, 2024
Obligations of states and political subdivisions$284,542 $$(42,491)$242,054 
Residential mortgage-backed securities
Government agency mortgage-backed securities372,414 — (25,251)347,163 
Government agency collateralized mortgage obligations354,882 — (41,506)313,376 
Commercial mortgage-backed securities
Government agency mortgage-backed securities16,961 — (2,958)14,003 
Government agency collateralized mortgage obligations43,662 — (7,317)36,345 
Other debt securities53,683 — (4,080)49,603 
$1,126,144 $$(123,603)$1,002,544 
Allowance for credit losses - held to maturity securities(32)
Held-to-maturity securities, net of allowance for credit losses$1,126,112 
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
December 31, 2023
Obligations of states and political subdivisions$288,154 $74 $(33,688)$254,540 
Residential mortgage-backed securities
Government agency mortgage-backed securities426,264 — (20,314)405,950 
Government agency collateralized mortgage obligations387,208 — (31,670)355,538 
Commercial mortgage-backed securities
Government agency mortgage-backed securities16,983 — (2,972)14,011 
Government agency collateralized mortgage obligations44,514 — (6,977)37,537 
Other debt securities58,373 — (4,119)54,254 
$1,221,496 $74 $(99,740)$1,121,830 
Allowance for credit losses - held to maturity securities(32)
Held-to-maturity securities, net of allowance for credit losses$1,221,464 
Schedule of realized gain (loss)
Carrying Value Prior to ImpairmentNet ProceedsImpairment Recognized in December 2023
Twelve months ended December 31, 2024
Obligations of states and political subdivisions$12,301 $11,360 $(941)
Residential mortgage-backed securities:
Government agency mortgage-backed securities107,389 95,922 (11,467)
Government agency collateralized mortgage obligations48,300 43,990 (4,310)
Commercial mortgage-backed securities:
Government agency collateralized mortgage obligations28,547 25,913 (2,634)
$196,537 $177,185 $(19,352)
Carrying ValueNet ProceedsGain/(Loss)
Twelve months ended December 31, 2023
Obligations of other U.S. Government agencies and corporations$170,000 $164,915 $(5,085)
Obligations of states and political subdivisions104,950 99,439 (5,511)
Residential mortgage backed securities:
Government agency mortgage backed securities137,196 130,602 (6,594)
Government agency collateralized mortgage obligations54,028 51,101 (2,927)
Commercial mortgage backed securities:
Government agency mortgage backed securities5,048 4,825 (223)
Government agency collateralized mortgage obligations40,197 38,099 (2,098)
$511,419 $488,981 $(22,438)
Gross realized gains and gross realized losses on sales of securities available for sale were as follows for the periods presented:
 Year Ended December 31,
 
2024(1)
20232022
Gross gains on sales of securities available for sale$$126 $— 
Gross losses on sales of securities available for sale(19,357)(22,564)— 
Losses on sales of securities available for sale, net$(19,352)$(22,438)$— 
      (1) Impairment recognized in December 2023.
Schedule of amortized cost and fair value of securities by contractual maturity
The amortized cost and fair value of securities at December 31, 2024 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may call or prepay obligations with or without call or prepayment penalties.
 Held to MaturityAvailable for Sale
 Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due within one year$1,494 $1,484 $1,997 $2,043 
Due after one year through five years6,017 5,634 41,859 41,823 
Due after five years through ten years127,004 109,571 34,774 31,648 
Due after ten years150,027 125,365 4,077 3,461 
Residential mortgage-backed securities:
Government agency mortgage-backed securities372,414 347,163 185,292 160,905 
Government agency collateralized mortgage obligations354,882 313,376 475,311 388,516 
Commercial mortgage-backed securities:
Government agency mortgage-backed securities16,961 14,003 11,373 10,622 
Government agency collateralized mortgage obligations43,662 36,345 146,510 124,956 
Other debt securities53,683 49,603 67,734 67,039 
$1,126,144 $1,002,544 $968,927 $831,013 
Schedule of gross unrealized losses and fair value of available-for-sale securities
The following tables present the gross unrealized losses and fair value of investment securities, aggregated by investment category and the length of time the investments have been in a continuous unrealized loss position, as of the dates presented:
 Less than 12 Months12 Months or MoreTotal
 #Fair
Value
Unrealized
Losses
#Fair
Value
Unrealized
Losses
#Fair
Value
Unrealized
Losses
Available for Sale:
December 31, 2024
Obligations of states and political subdivisions$— $— 7$12,841 $(2,269)7$12,841 $(2,269)
Residential mortgage-backed securities:
Government agency mortgage-backed securities711,051 (259)34141,321 (24,208)41152,372 (24,467)
Government agency collateralized mortgage obligations348,879 (482)37311,964 (86,389)40360,843 (86,871)
Commercial mortgage-backed securities:
Government agency mortgage-backed securities25,248 (122)25,375 (629)410,623 (751)
Government agency collateralized mortgage obligations27,681 (39)25104,326 (21,556)27112,007 (21,595)
Other debt securities222,357 (218)1730,801 (2,437)1953,158 (2,655)
Total16$95,216 $(1,120)122$606,628 $(137,488)138$701,844 $(138,608)
December 31, 2023
Obligations of states and political subdivisions3$2,914 $(2)9$15,198 $(1,881)12$18,112 $(1,883)
Residential mortgage-backed securities:
Government agency mortgage-backed securities1806 (25)35166,963 (24,943)36167,769 (24,968)
Government agency collateralized mortgage obligations— — 37354,574 (85,883)37354,574 (85,883)
Commercial mortgage-backed securities:
Government agency mortgage-backed securities— — 25,392 (637)25,392 (637)
Government agency collateralized mortgage obligations— — 25108,575 (21,965)25108,575 (21,965)
Other debt securities23,099 (195)1935,072 (4,263)2138,171 (4,458)
Total6$6,819 $(222)127$685,774 $(139,572)133$692,593 $(139,794)
Schedule of gross unrealized losses and fair value of held-to-maturity securities
 Less than 12 months 12 months or more Total
Held to Maturity:# Fair Value Unrealized Losses# Fair Value Unrealized Losses# Fair Value Unrealized Losses
December 31, 2024
Obligations of states and political subdivisions$— $— 128$240,394 $(42,491)128$240,394 $(42,491)
Residential mortgage-backed securities:
Government agency mortgage-backed securities— — 69347,154 (25,251)69347,154 (25,251)
Government agency collateralized mortgage obligations— — 18313,376 (41,506)18313,376 (41,506)
Commercial mortgage-backed securities:
Government agency mortgage-backed securities— — 114,002 (2,958)114,002 (2,958)
Government agency collateralized mortgage obligations— — 936,345 (7,317)936,345 (7,317)
Other debt securities— — 1049,603 (4,080)1049,603 (4,080)
Total$— $— 235$1,000,874 $(123,603)235$1,000,874 $(123,603)
December 31, 2023
Obligations of states and political subdivisions2$2,807 $(25)126$249,995 $(33,663)128$252,802 $(33,688)
Residential mortgage-backed securities:
Government agency mortgage-backed securities— — 70405,950 (20,314)70405,950 (20,314)
Government agency collateralized mortgage obligations— — 18355,538 (31,670)18355,538 (31,670)
Commercial mortgage-backed securities:
Government agency mortgage-backed securities— — 114,011 (2,972)114,011 (2,972)
Government agency collateralized mortgage obligations— — 937,537 (6,977)937,537 (6,977)
Other debt securities— — 1054,254 (4,119)1054,254 (4,119)
Total2$2,807 $(25)234$1,117,285 $(99,715)236$1,120,092 $(99,740)