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Investment Securities
 3 Months Ended
Mar. 31, 2025
Securities Financing Transactions Disclosures [Abstract]  
Investment Securities Investment Securities
AFS Securities
At March 31, 2025, the fair value of AFS securities totaled $258.5 million. At March 31, 2025, no securities were identified that violated credit loss triggers; therefore, no DCF analysis was performed, and no credit loss was recognized on any of the securities available for sale.
Accrued interest receivable is excluded from the estimate of credit losses for AFS securities. At March 31, 2025, accrued interest receivable totaled $1.1 million for AFS securities, and was reported in accrued interest receivable on the accompanying Consolidated Balance Sheet.
HTM Securities
At March 31, 2025, Mid Penn’s HTM securities totaled $375.1 million. The Company primarily held highly rated HTM securities, including taxable and tax-exempt securities issued mainly by the U.S government, state governments, and political subdivisions. As of March 31, 2025, the majority of Mid Penn's HTM securities were rated as A1/BBB by Moody's and/or Standard & Poor's ratings services. Credit ratings of HTM securities, which are a key factor in estimating expected credit losses, are reviewed on a quarterly basis.
At March 31, 2025, Mid Penn had no HTM securities that were past due 30 days or more as to principal or interest payments. Mid Penn had no HTM securities classified as nonaccrual at March 31, 2025. Therefore, no allowance for credit losses was recorded as of March 31, 2025.
Accrued interest receivable is excluded from the estimate of credit losses for HTM securities. At March 31, 2025, accrued interest receivable totaled $2.2 million for HTM securities and was reported in accrued interest receivable on the accompanying Consolidated Balance Sheet.
The following tables set forth the amortized cost and estimated fair value of investment securities for the periods presented:
March 31, 2025
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Estimated
Fair Value
Available-for-sale
U.S. Treasury and U.S. government agencies$22,273 $— $516 $21,757 
Mortgage-backed U.S. government agencies215,826 289 16,008 200,107 
State and political subdivision obligations4,305 — 710 3,595 
Corporate debt securities35,754 35 2,755 33,034 
Total available-for-sale debt securities278,158 324 19,989 258,493 
Held-to-maturity
U.S. Treasury and U.S. government agencies$237,976 $— $22,952 $215,024 
Mortgage-backed U.S. government agencies36,275 1 4,703 31,573 
State and political subdivision obligations75,418 — 6,633 68,785 
Corporate debt securities25,446 — 1,120 24,326 
Total held-to-maturity debt securities375,115 1 35,408 339,708 
Total$653,273 $325 $55,397 $598,201 
December 31, 2024
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross Unrealized
Losses		Estimated
Fair Value
Available-for-sale
U.S. Treasury and U.S. government agencies$22,247 $— $740 $21,507 
Mortgage-backed U.S. government agencies222,464 11 19,531 202,944 
State and political subdivision obligations4,309 — 713 3,596 
Corporate debt securities35,750 — 3,320 32,430 
Total available-for-sale debt securities$284,770 $11 $24,304 $260,477 
Held-to-maturity     
U.S. Treasury and U.S. government agencies$241,941 $— $28,133 $213,808 
Mortgage-backed U.S. government agencies37,593 — 5,508 32,085 
State and political subdivision obligations77,462 — 6,840 70,622 
Corporate debt securities25,451 — 1,318 24,133 
Total held-to-maturity debt securities382,447 — 41,799 340,648 
Total$667,217 $11 $66,103 $601,125 
Estimated fair values of debt securities are based on quoted market prices, where applicable. If quoted market prices are not available, fair values are based on quoted market prices of instruments of a similar type, credit quality and structure, adjusted for differences between the quoted instruments and the instruments being valued. See "Note 8 - Fair Value Measurement," for additional information.
Investment securities having a fair value of $429.4 million at March 31, 2025 and $440.0 million at December 31, 2024 were pledged primarily to secure public deposits, some Trust department deposit accounts, and certain other borrowings. In accordance with legal provisions for alternatives other than pledging of investments, Mid Penn also obtains letters of credit from the FHLB to secure certain public deposits. These FHLB letter of credit commitments totaled $113.0 million as of March 31, 2025 and $156.0 million as of December 31, 2024.
The following tables present gross unrealized losses and fair value of debt investment securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the periods presented:
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
March 31, 2025Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies—$— $— 12$21,757 $516 12$21,757 $516 
Mortgage-backed U.S. government agencies1074,099 1,141 90126,008 14,867 100200,107 16,008 
State and political subdivision obligations—— — 83,595 710 83,595 710 
Corporate debt securities13,955 — 1729,079 2,755 1833,034 2,755 
Total available-for-sale debt securities11$78,054 $1,141 127$180,439 $18,848 138$258,493 $19,989 
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies—— — 141215,024 22,952 141215,024 22,952 
Mortgage-backed U.S. government agencies3302 — 6131,271 4,703 6431,573 4,703 
State and political subdivision obligations93,734 23 16365,051 6,610 17268,785 6,633 
Corporate debt securities410,500 — 1113,826 1,120 1524,326 1,120 
Total held-to-maturity debt securities1614,536 23 376325,172 35,385 392339,708 35,408 
Total27$92,590 $1,164 503$505,611 $54,233 530$598,201 $55,397 
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
December 31, 2024Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses		Number
of
Securities		Estimated
Fair
Value		Gross
Unrealized
Losses
Available-for-sale securities:
U.S. Treasury and U.S. government agencies—$— $— 12$21,507 $740 12$21,507 $740 
Mortgage-backed U.S. government agencies972,499 1,847 91130,445 17,684 100202,944 19,531 
State and political subdivision obligations—— — 83,596 713 83,596 713 
Corporate debt securities—— — 1832,430 3,320 1832,430 3,320 
Total available-for-sale securities972,499 1,847 129187,978 22,457 138260,477 24,304 
Held-to-maturity securities:
U.S. Treasury and U.S. government agencies—$— $— 143$213,808 $28,133 143$213,808 $28,133 
Mortgage-backed U.S. government agencies2163 1 6231,922 5,507 6432,085 5,508 
State and political subdivision obligations83,176 30 16967,446 6,810 17770,622 6,840 
Corporate debt securities410,500 — 1113,633 1,318 1524,133 1,318 
Total held to maturity securities1413,839 31 385326,809 41,768 399340,648 41,799 
Total23$86,338 $1,878 514$514,787 $64,225 537$601,125 $66,103 
At March 31, 2025 and 2024, the majority of the unrealized losses on securities in an unrealized loss position were attributable to U.S. Treasury and U.S. government agencies, and mortgage-backed U.S. government agencies.

Mid Penn had no securities considered by management to be credit related losses as of March 31, 2025 and 2024, and did not record any securities losses in the respective periods ended on these dates. Mid Penn does not consider the securities with unrealized losses on the respective dates to be credit related losses as the unrealized losses were deemed to be temporary changes in value related to market movements in interest yields at various periods similar to the maturity dates of holdings in the investment portfolio, and not reflective of an erosion of credit quality.
There were no gross realized gains and losses on sales of available-for-sale debt securities for the three months ended March 31, 2025 and 2024.
The table below illustrates the contractual maturity of debt investment securities at amortized cost and estimated fair value. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay with or without call or prepayment penalties.
(In thousands)Available-for-saleHeld-to-maturity
March 31, 2025Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in 1 year or less$10,501 $10,486 $19,738 $19,640 
Due after 1 year but within 5 years22,423 21,734 140,361 131,748 
Due after 5 years but within 10 years28,564 25,538 164,425 145,154 
Due after 10 years844 628 14,316 11,593 
62,332 58,386 338,840 308,135 
Mortgage-backed securities215,826 200,107 36,275 31,573 
$278,158 $258,493 $375,115 $339,708