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SECURITIES (Tables)
12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Information Related to the Amortized Cost, Fair Value and Allowance for Credit Losses of Securities Available-for-Sale and Related Gross Unrealized Gains and Losses
Information related to the amortized cost, fair value and allowance for credit losses of securities available-for-sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) at December 31, 2024 and 2023 is provided in the tables below.
(dollars in thousands)Amortized
Cost
Gross
Unrealized
Gain
Gross
Unrealized
Losses
Allowance for Credit LossesFair
Value
2024
U.S. government sponsored agencies$137,150 $0 $(27,715)$0 $109,435 
Mortgage-backed securities: residential500,278 83 (77,952)0 422,409 
State and municipal securities545,073 17 (85,508)0 459,582 
Total$1,182,501 $100 $(191,175)$0 $991,426 
2023
U.S. government sponsored agencies$146,692 $$(27,213)$$119,479 
Mortgage-backed securities: residential522,275 118 (74,551)447,842 
State and municipal securities557,352 65 (73,010)484,407 
Total$1,226,319 $183 $(174,774)$$1,051,728 
Schedule of Information Related to the Amortized Cost, Fair Value and Allowance for Credit Losses of Securities Held-to-Maturity and Related Gross Gains and Unrealized Gains and Losses
Information related to the amortized cost, fair value and allowance for credit losses of securities held-to-maturity and the related gross gains and unrealized gains and losses at December 31, 2024 and 2023 is presented in the table below.
(dollars in thousands)Amortized
Cost
Gross Unrealized GainGross Unrealized LossesAllowance for Credit LossesFair Value
2024
State and municipal securities$131,568 $0 $(18,461)$0 $113,107 
2023
State and municipal securities$129,918 $$(10,703)$$119,215 
Schedule of Information Regarding the Fair Value and Amortized Cost of Available-for-Sale and Held-to-Maturity Debt Securities by Maturity
Information regarding the fair value and amortized cost of available-for-sale and held-to-maturity debt securities by maturity as of December 31, 2024 is presented below. Maturity information is based on contractual maturity for all securities other than mortgage-backed securities. Actual maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without prepayment penalty.
Available-for-SaleHeld-to-Maturity
(dollars in thousands)Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in one year or less$440 $438 $0 $0 
Due after one year through five years8,359 7,778 0 0 
Due after five years through ten years60,937 55,046 7,202 6,343 
Due after ten years612,487 505,755 124,366 106,764 
682,223 569,017 131,568 113,107 
Mortgage-backed securities500,278 422,409 0 0 
Total debt securities$1,182,501 $991,426 $131,568 $113,107 
Schedule of Security Proceeds, Gross Gains and Gross Losses
Security proceeds, gross gains and gross losses for 2024, 2023 and 2022 were as follows:
(dollars in thousands)202420232022
Sales of securities available-for-sale
Proceeds$7,136 $105,175 $25,332 
Gross gains0 439 140 
Gross losses(46)(464)(119)
Number of securities15 115 30 
Schedule of Unrealized Loss Analysis on Available-for-Sale Securities
Information regarding available-for-sale securities securities with unrealized losses as of December 31, 2024 and 2023 is presented below. The tables distribute the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value
Unrealized LossesFair
Value
Unrealized LossesFair
Value
Unrealized Losses
2024            
U.S. government sponsored agencies$0 $0 $109,435 $27,715 $109,435 $27,715 
Mortgage-backed securities: residential23,204 249 390,483 77,703 413,687 77,952 
State and municipal securities12,928 439 443,569 85,069 456,497 85,508 
Total temporarily impaired$36,132 $688 $943,487 $190,487 $979,619 $191,175 
2023
U.S. government sponsored agencies$$$119,479 $27,213 $119,479 $27,213 
Mortgage-backed securities: residential52 442,765 74,551 442,817 74,551 
State and municipal securities31,345 440 440,446 72,570 471,791 73,010 
Total temporarily impaired$31,397 $440 $1,002,690 $174,334 $1,034,087 $174,774 
Schedule of Unrealized Loss Analysis on Held-to-Maturity Securities
Information regarding held-to-maturity securities with unrealized losses as of December 31, 2024 and 2023 is presented below. The table divides the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.
Less than 12 months12 months or moreTotal
(dollars in thousands)Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
2024
State and municipal securities$0 $0 $113,107 $18,461 $113,107 $18,461 
2023
State and municipal securities$$$119,215 $10,703 $119,215 $10,703 
Schedule of Number of Securities with Unrealized Losses of Available for Sale Securities and Held to Maturity Securities
The number of securities with unrealized losses as of December 31, 2024 and 2023 is presented below.
Available-for-SaleHeld-to-Maturity
Less than
12 months
12 months
or more
TotalLess than
12 months
12 months
or more
Total
2024    
U.S. government sponsored agencies0 17 17 0 0 0 
Mortgage-backed securities: residential9 124 133 0 0 0 
State and municipal securities23 392 415 0 41 41 
Total temporarily impaired32 533 565 0 41 41 
2023
U.S. government sponsored agencies17 17 
Mortgage-backed securities: residential126 127 
State and municipal securities40 370 410 41 41 
Total temporarily impaired41 513 554 41 41