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Securities (Tables)
3 Months Ended
Mar. 31, 2025
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 in the tables below.

There was no allowance for credit losses allocated to any of the Company’s available for sale securities as of March 31, 2025 or December 31, 2024.
 
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
March 31, 2025
Obligations of states and political subdivisions$20,221 $53 $(2,024)$18,250 
Residential mortgage backed securities:
Government agency mortgage backed securities247,389 201 (21,007)226,583 
Government agency collateralized mortgage obligations504,846 1,800 (69,091)437,555 
Commercial mortgage backed securities:
Government agency mortgage backed securities11,372 42 (549)10,865 
Government agency collateralized mortgage obligations167,336 374 (19,834)147,876 
Other debt securities162,119 590 (1,782)160,927 
$1,113,283 $3,060 $(114,287)$1,002,056 
 
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 
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
March 31, 2025
Obligations of states and political subdivisions$283,632 $— $(41,658)$241,974 
Residential mortgage backed securities
Government agency mortgage backed securities360,229 — (17,581)342,648 
Government agency collateralized mortgage obligations347,015 — (26,960)320,055 
Commercial mortgage backed securities:
Government agency mortgage backed securities16,955 — (2,565)14,390 
Government agency collateralized mortgage obligations43,298 — (6,606)36,692 
Other debt securities50,804 — (3,066)47,738 
$1,101,933 $— $(98,436)$1,003,497 
Allowance for credit losses - held to maturity securities(32)
Held to maturity securities, net of allowance for credit losses$1,101,901 
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 
Schedule of Realized Gain (Loss) With respect to the securities sold during the first three months ended March 31, 2024, which are presented in the table below, the Company intended to sell these securities as of December 31, 2023, and completed the sale in January 2024. Therefore, the Company impaired the securities and recognized the loss in net income as of December 31, 2023.
Carrying Value Immediately Prior to SaleNet ProceedsImpairment (Recognized in December 2023)
Three months ended March 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)
Schedule of Amortized Cost and Fair Value of Securities by Contractual Maturity
The amortized cost and fair value of securities at March 31, 2025 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$1,480 $1,479 $1,997 $2,038 
Due after one year through five years5,966 5,631 33,904 33,958 
Due after five years through ten years137,612 119,449 31,862 29,656 
Due after ten years138,574 115,414 4,062 3,421 
Residential mortgage backed securities:
Government agency mortgage backed securities360,229 342,648 247,389 226,583 
Government agency collateralized mortgage obligations347,015 320,055 504,846 437,555 
Commercial mortgage backed securities:
Government agency mortgage backed securities16,955 14,390 11,372 10,865 
Government agency collateralized mortgage obligations43,298 36,692 167,336 147,876 
Other debt securities50,804 47,739 110,515 110,104 
$1,101,933 $1,003,497 $1,113,283 $1,002,056 
Schedule of Gross Unrealized Losses and Fair Value of Available-for-Sale Securities
The following tables present the age of gross unrealized losses and fair value by investment category for which an allowance for credit losses has not been recorded 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:
March 31, 2025
Obligations of states and political subdivisions— $— $— 7$13,040 $(2,024)7$13,040 $(2,024)
Residential mortgage backed securities:
Government agency mortgage backed securities65,280 (669)34140,351 (20,338)42205,631 (21,007)
Government agency collateralized mortgage obligations— — — 37319,460 (69,091)37319,460 (69,091)
Commercial mortgage backed securities:
Government agency mortgage backed securities12,412 (35)25,483 (514)37,895 (549)
Government agency collateralized mortgage obligations12,808 (3)25104,666 (19,831)26107,474 (19,834)
Other debt securities43,019 (259)1322,867 (1,523)1665,886 (1,782)
Total13$113,519 $(966)118$605,867 $(113,321)131$719,386 $(114,287)
December 31, 2024
Obligations of states and political subdivisions$— $— 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 obligations48,879 (482)37311,964 (86,389)40360,843 (86,871)
Commercial mortgage backed securities:
Government agency mortgage backed securities5,248 (122)25,375 (629)410,623 (751)
Government agency collateralized mortgage obligations7,681 (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)
Schedule of Gross Unrealized Losses and Fair Value of Held-to-Maturity Securities
 Less than 12 Months12 Months or MoreTotal
 #Fair
Value
Unrealized
Losses
#Fair
Value
Unrealized
Losses
#Fair
Value
Unrealized
Losses
Held to Maturity:
March 31, 2025
Obligations of states and political subdivisions7$16,412 $(1,835)121$225,342 $(39,823)128$241,754 $(41,658)
Residential mortgage backed securities:
Government agency mortgage backed securities116,189 (594)67326,460 (16,987)68342,649 (17,581)
Government agency collateralized mortgage obligations— — 18320,055 (26,960)18320,055 (26,960)
Commercial mortgage backed securities:
Government agency mortgage backed securities— — 114,390 (2,565)114,390 (2,565)
Government agency collateralized mortgage obligations— — 936,692 (6,606)936,692 (6,606)
Other debt securities— — 1047,739 (3,066)1047,739 (3,066)
Total8$32,601 $(2,429)226$970,678 $(96,007)234$1,003,279 $(98,436)
December 31, 2024
Obligations of states and political subdivisions$— $— 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)