Quarterly report [Sections 13 or 15(d)]

INVESTMENT SECURITIES (Tables)

v3.26.3
INVESTMENT SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2026
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”) and the
corresponding amounts
of gross
unrealized gains and
losses.
Available
for Sale
Amortized
Unrealized
Unrealized
Allowance for
Fair
(Dollars in Thousands)
Cost
Gains
Losses
Credit Losses
Value
September 30, 2026
U.S. Government
Treasury
$
605,514
$
-
$
11,171
$
-
$
594,343
U.S. Government
Agency
164,330
76
4,095
-
160,311
States and
Political Subdivisions
35,004
-
2,429
-
32,575
Mortgage-Backed
Securities
(1)
55,044
-
10,715
-
44,329
Corporate
Debt Securities
33,162
-
2,574
(49)
30,539
Total
$
893,054
$
76
$
30,984
$
(49)
$
862,097
December 31, 2025
U.S. Government
Treasury
$
331,495
$
1,940
$
171
$
-
$
333,264
U.S. Government
Agency
174,527
71
2,484
-
172,114
States and
Political Subdivisions
36,918
38
2,045
-
34,911
Mortgage-Backed
Securities
(1)
59,699
2
7,697
-
52,004
Corporate
Debt Securities
45,810
-
2,236
(42)
43,532
Other Securities
(2)
8,097
-
-
-
8,097
Total
$
656,546
$
2,051
$
14,633
$
(42)
$
643,922
Held to Maturity
Amortized
Unrealized
Unrealized
Fair
(Dollars in Thousands)
Cost
Gains
Losses
Value
September 30, 2026
Mortgage-Backed
Securities
(1)
315,142
-
21,310
293,832
Total
$
315,142
$
-
$
21,310
$
293,832
December 31, 2025
U.S. Government
Treasury
$
129,782
$
-
$
514
$
129,268
Mortgage-Backed
Securities
(1)
247,664
930
8,542
240,052
Total
$
377,446
$
930
$
9,056
$
369,320
(1)
Comprised of residential mortgage-backed securities.
(2)
Includes Federal
Home Loan Bank stock
and Federal
Reserve Bank stock
recorded
at cost of $
3.0
million and
$
5.1
million at
December 31, 2025,
respectively.
These securities are
presented
in Other Assets beginning
September 30, 2026.
Maturity Distribution
Available
for Sale
Held to Maturity
(Dollars in Thousands)
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Due in one year
or less
$
159,015
$
158,279
$
-
$
-
Due after
one year through
five years
532,658
516,640
-
-
Mortgage-Backed
Securities
55,044
44,329
315,142
293,832
U.S. Government
Agency
146,337
142,849
-
-
Total
$
893,054
$
862,097
$
315,142
$
293,832
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
September 30, 2026
Available
for Sale
U.S. Government
Treasury
$
591,355
$
11,156
$
2,988
$
15
$
594,343
$
11,171
U.S. Government
Agency
54,953
1,648
74,492
2,447
129,445
4,095
States and
Political Subdivisions
1,842
21
28,453
2,408
30,295
2,429
Mortgage-Backed
Securities
47
1
44,274
10,714
44,321
10,715
Corporate
Debt Securities
657
-
28,782
2,574
29,439
2,574
Total
$
648,854
$
12,826
$
178,989
$
18,158
$
827,843
$
30,984
Held to Maturity
Mortgage-Backed
Securities
201,991
9,348
91,838
11,962
293,829
21,310
Total
$
201,991
$
9,348
$
91,838
$
11,962
$
293,829
$
21,310
December 31, 2025
Available
for Sale
U.S. Government
Treasury
$
31,319
$
22
$
8,902
$
149
$
40,221
$
171
U.S. Government
Agency
62,809
182
91,760
2,302
154,569
2,484
States and
Political Subdivisions
3,030
124
30,705
1,921
33,735
2,045
Mortgage-Backed
Securities
-
-
51,932
7,697
51,932
7,697
Corporate
Debt Securities
-
-
42,333
2,236
42,333
2,236
Total
$
97,158
$
328
$
225,632
$
14,305
$
322,790
$
14,633
Held to Maturity
U.S. Government
Treasury
-
-
129,268
514
129,268
514
Mortgage-Backed
Securities
33,589
98
106,262
8,444
139,851
8,542
Total
$
33,589
$
98
$
235,530
$
8,958
$
269,119
$
9,056