Securities (Tables)
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9 Months Ended |
Sep. 30, 2025 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Debt Securities, Available-for-Sale |
The estimated fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows:
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(Dollars in thousands) |
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Cost
Basis |
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Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
|
Estimated
Fair
Value |
| September 30, 2025 |
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| U.S. government sponsored entities |
|
$ |
8,884 |
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|
$ |
- |
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|
$ |
(498) |
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|
$ |
8,386 |
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| Collateralized mortgage obligations and residential mortgage-backed securities |
|
126,998 |
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|
- |
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|
(20,705) |
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|
106,293 |
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| Municipal securities |
|
261,936 |
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|
- |
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|
(43,081) |
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|
218,855 |
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| Collateralized debt obligations |
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2,145 |
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|
- |
|
|
(529) |
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|
1,616 |
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| Total securities available-for-sale |
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$ |
399,963 |
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$ |
- |
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|
$ |
(64,813) |
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|
$ |
335,150 |
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(Dollars in thousands) |
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Cost
Basis |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Estimated
Fair
Value |
| December 31, 2024 |
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|
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| U.S. government sponsored entities |
|
$ |
8,884 |
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|
$ |
- |
|
|
$ |
(823) |
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|
$ |
8,061 |
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| Collateralized mortgage obligations and residential mortgage-backed securities |
|
135,974 |
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|
- |
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|
(26,649) |
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|
109,325 |
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| Municipal securities |
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262,954 |
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|
- |
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|
(48,205) |
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|
214,749 |
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| Collateralized debt obligations |
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2,156 |
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|
- |
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|
(737) |
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|
1,419 |
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| Total securities available-for-sale |
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$ |
409,968 |
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|
$ |
- |
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|
$ |
(76,414) |
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|
$ |
333,554 |
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|
| Schedule of Investments Classified by Contractual Maturity Date |
The cost basis and estimated fair value of available-for-sale debt securities at September 30, 2025, by contractual maturity, were as follows. Securities not due at a single maturity date, primarily collateralized mortgage obligations and residential mortgage-backed securities, are shown separately.
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(Dollars in thousands) |
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Available-for-sale |
| September 30, 2025 |
|
Cost
Basis |
|
Estimated
Fair
Value |
| Due in one year or less |
|
$ |
- |
|
|
$ |
- |
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| Due from one to five years |
|
12,686 |
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|
11,927 |
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| Due from five to ten years |
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51,314 |
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|
46,151 |
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| Due over ten years |
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208,965 |
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170,779 |
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| Collateralized mortgage obligations and residential mortgage-backed securities |
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126,998 |
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|
106,293 |
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| Total |
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$ |
399,963 |
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|
$ |
335,150 |
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| Schedule of Realized Gain (Loss) |
Sales of available-for-sale securities were as follows for the quarter ended:
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Three Months Ended September 30 |
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Nine Months Ended September 30 |
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2025 |
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2024 |
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2025 |
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2024 |
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| Proceeds |
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
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|
$ |
14,698 |
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| Gross gains |
- |
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|
- |
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|
- |
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- |
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| Gross losses |
- |
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- |
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- |
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(531) |
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| Schedule of Accumulated Other Comprehensive Income (Loss) |
Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows:
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(Dollars in thousands) |
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Unrealized loss |
| Beginning balance, June 30, 2025 |
$ |
(57,560) |
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| Period change |
8,294 |
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| Ending balance, September 30, 2025 |
$ |
(49,266) |
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(Dollars in thousands) |
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Unrealized loss |
| Beginning balance, June 30, 2024 |
$ |
(58,939) |
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| Current period change |
10,698 |
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| Ending balance, September 30, 2024 |
$ |
(48,241) |
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(Dollars in thousands) |
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Unrealized loss |
| Beginning Balance, January 1, 2025 |
$ |
(58,084) |
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| Period change |
8,818 |
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| Ending Balance, September 30, 2025 |
$ |
(49,266) |
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(Dollars in thousands) |
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Unrealized loss |
| Beginning balance, January 1, 2024 |
$ |
(51,613) |
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| Current period change |
3,372 |
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| Ending balance, September 30, 2024 |
$ |
(48,241) |
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| Schedule of Unrealized Gain (Loss) on Investments |
Securities with unrealized losses at September 30, 2025, and December 31, 2024 not recognized in income are as follows:
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(Dollars in thousands) |
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Less than 12 months |
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12 months or longer |
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Total |
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Estimated
Fair
Value |
|
Unrealized
Losses |
|
Estimated
Fair
Value |
|
Unrealized
Losses |
|
Estimated
Fair
Value |
|
Unrealized
Losses |
|
Percentage of
Total Portfolio
in Loss Position |
| September 30, 2025 |
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| U.S. government sponsored entities |
|
$ |
- |
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|
$ |
- |
|
|
$ |
8,386 |
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|
$ |
(498) |
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|
$ |
8,386 |
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|
$ |
(498) |
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|
100.0 |
% |
| Collateralized mortgage obligations and residential mortgage-backed securities |
|
- |
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|
- |
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|
106,293 |
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(20,705) |
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106,293 |
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(20,705) |
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|
100.0 |
% |
| Municipal securities |
|
- |
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|
- |
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|
218,855 |
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(43,081) |
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|
218,855 |
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(43,081) |
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|
100.0 |
% |
| Collateralized debt obligations |
|
- |
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- |
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|
1,616 |
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(529) |
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1,616 |
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(529) |
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|
100.0 |
% |
| Total temporarily impaired |
|
$ |
- |
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|
$ |
- |
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|
$ |
335,150 |
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|
$ |
(64,813) |
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|
$ |
335,150 |
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|
$ |
(64,813) |
|
|
100.0 |
% |
| Number of securities |
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|
- |
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|
411 |
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|
411 |
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(Dollars in thousands) |
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Less than 12 months |
|
12 months or longer |
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Total |
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Estimated
Fair
Value |
|
Unrealized
Losses |
|
Estimated
Fair
Value |
|
Unrealized
Losses |
|
Estimated
Fair
Value |
|
Unrealized
Losses |
|
Percentage of
Total Portfolio
in Loss Position |
| December 31, 2024 |
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|
| U.S. government sponsored entities |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
8,061 |
|
|
$ |
(823) |
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|
$ |
8,061 |
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|
$ |
(823) |
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|
100.0 |
% |
| Collateralized mortgage obligations and residential mortgage-backed securities |
|
- |
|
|
- |
|
|
109,325 |
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|
(26,649) |
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|
109,325 |
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|
(26,649) |
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|
100.0 |
% |
| Municipal securities |
|
3,310 |
|
|
(156) |
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|
211,439 |
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(48,049) |
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|
214,749 |
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|
(48,205) |
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|
100.0 |
% |
| Collateralized debt obligations |
|
- |
|
|
- |
|
|
1,419 |
|
|
(737) |
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|
1,419 |
|
|
(737) |
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|
100.0 |
% |
| Total temporarily impaired |
|
$ |
3,310 |
|
|
$ |
(156) |
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|
$ |
330,244 |
|
|
$ |
(76,258) |
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|
$ |
333,554 |
|
|
$ |
(76,414) |
|
|
100.0 |
% |
| Number of securities |
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|
4 |
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|
409 |
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|
|
413 |
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