INVESTMENT SECURITIES (Tables) |
6 Months Ended |
|---|---|
Jun. 30, 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
June 30, 2025
U.S. Government Treasury
$
221,568
$
1,116
$
363
$
-
$
222,321
U.S. Government Agency
166,665
69
3,666
-
163,068
States and Political Subdivisions
40,551
31
2,708
(1)
37,873
Mortgage-Backed Securities
(1)
62,904
1
9,277
-
53,628
Corporate Debt Securities
51,619
-
3,080
(69)
48,470
Other Securities
(2)
8,097
-
-
-
8,097
Total
$
551,404
$
1,217
$
19,094
$
(70)
$
533,457
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
June 30, 2025
U.S. Government Treasury
$
235,499
$
-
$
2,748
$
232,751
Mortgage-Backed Securities
(1)
227,100
236
11,176
216,160
Total
$
462,599
$
236
$
13,924
$
448,911
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
$
58,288
$
57,421
$
227,073
$
224,454
Due after one year through five years
298,624
294,770
8,426
8,297
Due after five year through ten years
16,353
14,603
-
-
Mortgage-Backed Securities
62,904
53,628
227,100
216,160
U.S. Government Agency
107,138
104,938
-
-
Other Securities
8,097
8,097
-
-
Total
$
551,404
$
533,457
$
462,599
$
448,911
|
| 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
June 30, 2025
Available for
U.S. Government Treasury
$
28,929
$
14
$
11,742
$
349
$
40,671
$
363
U.S. Government Agency
41,132
264
93,868
3,402
135,000
3,666
States and Political Subdivisions
1,622
66
34,125
2,642
35,747
2,708
Mortgage-Backed Securities
39
-
53,545
9,277
53,584
9,277
Corporate Debt Securities
1,077
68
47,393
3,012
48,470
3,080
Total
$
72,799
$
412
$
240,673
$
18,682
$
313,472
$
19,094
Held to Maturity
U.S. Government Treasury
-
-
232,751
2,748
232,751
2,748
Mortgage-Backed Securities
50,264
204
110,114
10,972
160,378
11,176
Total
$
50,264
$
204
$
342,865
$
13,720
$
393,129
$
13,924
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
|