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Securities
12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Securities Securities
AFS debt securities at December 31, 2025 and 2024 were as follows: 

 December 31, 2025
 AmortizedGross UnrealizedAllowance ForFair
CostGainsLosses Credit LossesValue
U.S. Gov’t sponsored entities$113,211 $100 $(216)$— $113,095 
State & political subdivisions96,607 47 (8,806)— 87,848 
Residential & multi-family mortgage352,004 492 (24,249)— 328,247 
Corporate notes & bonds49,512 180 (1,752)— 47,940 
Pooled SBA7,578 (380)— 7,200 
Total$618,912 $821 $(35,403)$— $584,330 

 December 31, 2024
 AmortizedGross UnrealizedAllowance ForFair
CostGainsLossesCredit LossesValue
U.S. Gov’t sponsored entities$14,795 $17 $(2)$— $14,810 
State & political subdivisions104,025 11 (13,080)— 90,956 
Residential & multi-family mortgage352,983 60 (34,133)— 318,910 
Corporate notes & bonds39,022 — (3,812)— 35,210 
Pooled SBA9,398 — (738)— 8,660 
Total$520,223 $88 $(51,765)$— $468,546 

HTM debt securities at December 31, 2025 and 2024 are as follows:

 December 31, 2025
 AmortizedGross UnrealizedAllowance ForFair
CostGainsLossesCredit LossesValue
U.S. Gov’t sponsored entities$177,569 $— $(6,061)$— $171,508 
Residential & multi-family mortgage64,569 — (6,383)— 58,186 
Total$242,138 $— $(12,444)$— $229,694 

 December 31, 2024
 AmortizedGross UnrealizedAllowance ForFair
CostGainsLossesCredit LossesValue
U.S. Gov’t sponsored entities$229,504 $— $(13,354)$— $216,150 
Residential & multi-family mortgage76,577 — (9,757)— 66,820 
Total$306,081 $— $(23,111)$— $282,970 

Information pertaining to AFS security sales is as follows:

Year ended December 31ProceedsGross GainsGross Losses
2025340,966 1,168 — 
2024806 83 
202313,151 52 — 

The tax provision related to these net realized gains at December 31, 2025, 2024, and 2023 were $245 thousand, $16 thousand, and $11 thousand, respectively.
The following is a schedule of the contractual maturity of AFS and HTM debt securities, excluding equity securities, at December 31, 2025:

 Available-for-saleHeld-to-maturity
 Amortized CostFair ValueAmortized CostFair Value
1 year or less$4,909 $4,896 $74,674 $73,844 
1 year – 5 years79,832 76,806 88,997 85,233 
5 years – 10 years159,798 155,601 13,898 12,431 
After 10 years14,791 11,580 — — 
259,330 248,883 177,569 171,508 
Residential and multi-family mortgage352,004 328,247 64,569 58,186 
Pooled SBA7,578 7,200 — — 
Total debt securities$618,912 $584,330 $242,138 $229,694 

Mortgage securities and pooled SBA securities are not due at a single date; periodic payments are received based on the payment patterns of the underlying collateral.

On December 31, 2025 and 2024, securities carried at $583.8 million and $443.9 million, respectively, were pledged to secure public deposits and for other purposes as provided by law.

At December 31, 2025 and 2024, there were no holdings of securities by any one issuer, other than U.S. Government sponsored entities, in an amount greater than 10% of shareholders’ equity.

AFS debt securities with unrealized losses at December 31, 2025 and 2024, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:

December 31, 2025Less than 12 Months12 Months or MoreTotal
Description of SecuritiesFair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
U.S. Gov’t sponsored entities$42,705 $(216)$— $— $42,705 $(216)
State & political subdivisions2,380 (1)75,516 (8,805)77,896 (8,806)
Residential & multi-family mortgage123,186 (835)143,001 (23,414)266,187 (24,249)
Corporate notes & bonds13,146 (333)24,175 (1,419)37,321 (1,752)
Pooled SBA57 (1)6,876 (379)6,933 (380)
Total$181,474 $(1,386)$249,568 $(34,017)$431,042 $(35,403)

December 31, 2024Less than 12 Months12 Months or MoreTotal
Description of SecuritiesFair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
U.S. Gov’t sponsored entities$249 $(1)$3,340 $(1)$3,589 $(2)
State & political subdivisions6,519 (90)80,172 (12,990)86,691 (13,080)
Residential and multi-family mortgage118,057 (810)159,576 (33,323)277,633 (34,133)
Corporate notes & bonds987 (13)34,224 (3,799)35,211 (3,812)
Pooled SBA410 (2)8,250 (736)8,660 (738)
Total$126,222 $(916)$285,562 $(50,849)$411,784 $(51,765)

HTM debt securities with unrealized losses at December 31, 2025 and 2024, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows:

December 31, 2025Less than 12 Months12 Months or MoreTotal
Description of SecuritiesFair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
U.S. Gov’t sponsored entities$— $— $171,508 $(6,061)$171,508 $(6,061)
Residential & multi-family mortgage— — 58,186 (6,383)58,186 (6,383)
Total$— $— $229,694 $(12,444)$229,694 $(12,444)
December 31, 2024Less than 12 Months12 Months or MoreTotal
Description of SecuritiesFair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
Fair
Value
Unrealized
Loss
U.S. Gov’t sponsored entities$— $— $216,150 $(13,354)$216,150 $(13,354)
State & political subdivisions— — 66,820 (9,757)66,820 (9,757)
Total$— $— $282,970 $(23,111)$282,970 $(23,111)

The Corporation evaluates securities for possible credit allowance on a quarterly basis, or more frequently when economic or market conditions warrant such an evaluation.

As of December 31, 2025 and 2024, management performed an assessment for allowance for credit losses on the Corporation’s AFS debt securities in an unrealized loss position and as of December 31, 2025 management performed an assessment for allowance for credit losses on the Corporation's HTM debt securities.

First an assessment was performed to determine if the Corporation intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost. Management determined it does not intend to sell and will not be required to sell any of the securities before recovery of its amortized cost. Next, management performed an evaluation relying on information obtained from various sources, including publicly available financial data, ratings by external agencies, brokers and other sources. For the securities that comprise corporate notes and bonds and the securities that are issued by state and political subdivisions, management monitors publicly available financial information, such as filings with the Securities and Exchange Commission, in order to evaluate the securities credit quality and ability to repay its debt obligations. For financial institution issuers, management monitors information from quarterly "call" report filings that are used to generate Uniform Bank Performance Reports. All other securities that were in an unrealized loss position at the balance sheet date were reviewed by management, and issuer-specific documents were reviewed as appropriate given the following considerations; the financial condition and near-term prospects of the issuer and whether downgrades by bond rating agencies have occurred. Based on the results of the assessment, management believes the decline in fair value is not the result of credit losses. As a result no credit allowance is required as of December 31, 2025.

As of December 31, 2025 and 2024 management concluded that the securities described in the previous paragraph did not decline in fair value due to credit factors for the following reasons:
There is no indication of any significant deterioration of the creditworthiness of the institutions that issued the securities.
All contractual interest payments on the securities have been received as scheduled, and no information has come to management’s attention through the processes previously described which would lead to a conclusion that future contractual payments will not be timely received.

In addition, the rise in interest rates is the primary driver of the decline in fair value below amortized cost as of December 31, 2025.

Equity securities at December 31, 2025 and 2024 were as follows:
December 31, 2025December 31, 2024
Corporate equity securities$4,745 $6,542 
Mutual funds3,792 1,936 
Money market245 287 
Corporate notes2,083 1,691 
Total$10,865 $10,456