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Investment Securities (Tables)
3 Months Ended
Mar. 31, 2025
Securities Financing Transactions Disclosures [Abstract]  
Schedule of Unrealized Gain (Loss) on Investments
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 $601,125 
Schedule of Fair Value and Unrealized Loss on Debt Security Investments in a Continuous Unrealized Loss Position
The following tables present gross unrealized losses and fair value of debt investment securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the periods presented:
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
March 31, 2025Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies$ $ 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 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 
Schedule of Investments Classified by Contractual Maturity Date
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