Investments (Tables)

3 Months Ended

Mar. 31, 2025

Investments [Abstract]

Debt Securities, Available-for-sale

The aggregate carrying and approximate fair values of investment securities follow (in thousands).  Fair values are based on quoted market prices, where available.  If quoted market prices are not available, fair values are based on quoted market prices of comparable financial instruments.

	March 31, 2025								December 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Securities available-for-sale:
Obligations of states and
political subdivisions	$	197,752	$	241	$	15,569	$	182,424	$	199,131	$	139	$	15,519	$	183,751
Mortgage-backed securities:
U.S. government agencies	1,311,090		3,710		116,007		1,198,793		1,334,755		1,993		134,667		1,202,081
Private label	5,081		—		134		4,947		5,096		—		163		4,933
Trust preferred securities	4,606		58		—		4,664		4,605		141		—		4,746
Corporate securities	26,823		133		976		25,980		26,862		144		1,211		25,795
Total Securities Available-for-Sale	$	1,545,352	$	4,142	$	132,686	$	1,416,808	$	1,570,449	$	2,417	$	151,560	$	1,421,306

Gross Unrealized Losses And Fair Value Of Investments

The following table shows the gross unrealized losses and fair value of the Company’s investments aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):

	March 31, 2025
	Less Than Twelve Months				Twelve Months or Greater				Total
	Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss
Securities available-for-sale:
Obligations of states and political subdivisions	$	14,988	$	221	$	152,140	$	15,348	$	167,128	$	15,569
Mortgage-backed securities:
U.S. Government agencies	11,125		8,830		712,795		107,177		723,920		116,007
Private label	—		—		4,947		134		4,947		134
Trust preferred securities	—		—		—		—		—		—
Corporate securities	—		—		24,220		976		24,220		976
Total available-for-sale	$	26,113	$	9,051	$	894,102	$	123,635	$	920,215	$	132,686

	December 31, 2024
	Less Than Twelve Months				Twelve Months or Greater				Total
	Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss
Securities available-for-sale:
Obligations of states and political subdivisions	$	19,724	$	422	$	151,508	$	15,097	$	171,232	$	15,519
Mortgage-backed securities:
U.S. Government agencies	114,560		12,669		710,651		121,998		825,211		134,667
Private label	—		—		4,933		163		4,933		163
Trust preferred securities	—		—		—		—		—		—
Corporate securities	—		—		24,035		1,211		24,035		1,211
Total available-for-sale	$	134,284	$	13,091	$	891,127	$	138,469	$	1,025,411	$	151,560

Amortized Cost And Estimated Fair Value Of Debt Securities By Contractual Maturity

The amortized cost and estimated fair value of debt securities at March 31, 2025, by contractual maturity, is shown in the following table (in thousands).  Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.  Mortgage-backed securities have been allocated to their respective maturity groupings based on their contractual maturity.

	Amortized Cost		Estimated Fair Value
Available-for-Sale Debt Securities
Due in one year or less	$	16,039	$	15,959
Due after one year through five years	151,733		145,816
Due after five years through ten years	311,224		293,572
Due after ten years	1,066,356		961,461
Total	$	1,545,352	$	1,416,808

Gross Gains And Losses Realized

Proceeds from sales, gross gains and gross losses recognized by the Company from investment security transactions are summarized in the table below (in thousands):

	Three months ended March 31,
	2025		2024
Proceeds on sales of available for sale securities	$	—	$	—
Gross realized gains on available for sale securities sold	$	—	$	—
Gross realized losses on available for sale securities sold	—		(1)
Net realized available for sale securities (losses) gains	$	—	$	(1)
Gross unrealized gains recognized on equity securities still held	$	101	$	63
Gross unrealized losses recognized on equity securities still held	(106)		(215)
Net unrealized (losses) gains recognized on equity securities still held	$	(5)	$	(152)