INVESTMENT SECURITIES (Tables) |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Investment Securities [Abstract] | |
| Investment Portfolio Composition |
NOTE 2 –
INVESTMENT SECURITIES
Investment Portfolio Composition
. The following table summarizes the amortized cost and related fair value of investment
securities available-for-sale (“AFS”) and securities held-to-maturity (“HTM”)
unrealized gains and losses.
Available for
Amortized
Unrealized
Unrealized
Allowance for
Fair
(Dollars in Thousands)
Cost
Gains
Losses
Credit Losses
Value
March 31, 2025
U.S. Government Treasury
$
158,473
$
556
$
469
$
-
$
158,560
U.S. Government Agency
153,326
33
4,250
-
149,109
States and Political Subdivisions
41,885
-
3,152
(2)
38,731
Mortgage-Backed Securities
(1)
64,583
-
9,634
-
54,949
Corporate Debt Securities
55,549
-
3,698
(73)
51,778
Other Securities
(2)
8,097
-
-
-
8,097
Total
$
481,913
$
589
$
21,203
$
(75)
$
461,224
December 31, 2024
U.S. Government Treasury
$
106,710
$
25
$
934
$
-
$
105,801
U.S. Government Agency
148,666
39
5,578
-
143,127
States and Political Subdivisions
43,212
-
3,827
(3)
39,382
Mortgage-Backed Securities
(1)
66,379
-
10,902
-
55,477
Corporate Debt Securities
55,970
-
4,444
(64)
51,462
Other Securities
(2)
8,096
-
-
-
8,096
Total
$
429,033
$
64
$
25,685
$
(67)
$
403,345
Held to Maturity
Amortized
Unrealized
Unrealized
Fair
(Dollars in Thousands)
Cost
Gains
Losses
Value
March 31, 2025
U.S. Government Treasury
$
306,419
$
-
$
4,245
$
302,174
Mortgage-Backed Securities
(1)
210,757
90
12,820
198,027
Total
$
517,176
$
90
$
17,065
$
500,201
December 31, 2024
U.S. Government Treasury
$
368,005
$
-
$
6,476
$
361,529
Mortgage-Backed Securities
(1)
199,150
16
16,235
182,931
Total
$
567,155
$
16
$
22,711
$
544,460
(1)
(2)
Includes Federal Home Loan Bank and Federal Reserve Bank stock, recorded
3.0
5.1
respectively,
|
| Maturity Distribution |
Available for
Held to Maturity
(Dollars in Thousands)
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Due in one year or less
$
59,318
$
58,196
$
248,348
$
245,163
Due after one year through five years
252,607
245,032
58,071
57,011
Mortgage-Backed Securities
64,583
54,949
210,757
198,027
U.S. Government Agency
97,308
94,950
-
-
Other Securities
8,097
8,097
-
-
Total
$
481,913
$
461,224
$
517,176
$
500,201
|
| Unrealized Losses on Investment Securities |
Less Than
Greater Than
12 Months
12 Months
Total
Fair
Unrealized
Fair
Unrealized
Fair
Unrealized
(Dollars in Thousands)
Value
Losses
Value
Losses
Value
Losses
March 31, 2025
Available for
U.S. Government Treasury
$
15,895
$
8
$
14,648
$
461
$
30,543
$
469
U.S. Government Agency
47,557
149
97,046
4,101
144,603
4,250
States and Political Subdivisions
844
3
37,887
3,149
38,731
3,152
Mortgage-Backed Securities
51
-
54,884
9,634
54,935
9,634
Corporate Debt Securities
2,159
91
49,619
3,607
51,778
3,698
Total
$
66,506
$
251
$
254,084
$
20,952
$
320,590
$
21,203
Held to Maturity
U.S. Government Treasury
-
-
302,174
4,245
302,174
4,245
Mortgage-Backed Securities
57,699
342
115,401
12,478
173,100
12,820
Total
$
57,699
$
342
$
417,575
$
16,723
$
475,274
$
17,065
December 31, 2024
Available for
U.S. Government Treasury
$
81,363
$
318
$
14,510
$
616
$
95,873
$
934
U.S. Government Agency
33,155
184
100,844
5,394
133,999
5,578
States and Political Subdivisions
2,728
164
36,654
3,663
39,382
3,827
Mortgage-Backed Securities
54
-
55,409
10,902
55,463
10,902
Corporate Debt Securities
3,093
249
48,369
4,195
51,462
4,444
Total
$
120,393
$
915
$
255,786
$
24,770
$
376,179
$
25,685
Held to Maturity
U.S. Government Treasury
-
-
361,529
6,476
361,529
6,476
Mortgage-Backed Securities
58,230
1,000
119,353
15,235
177,583
16,235
Total
$
58,230
$
1,000
$
480,882
$
21,711
$
539,112
$
22,711
|