INVESTMENT SECURITIES (Tables) |
9 Months Ended |
|---|---|
Sep. 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
September 30, 2025
U.S. Government Treasury
$
272,030
$
1,567
$
283
$
-
$
273,314
U.S. Government Agency
165,774
59
3,148
-
162,685
States and Political Subdivisions
37,525
42
2,319
-
35,248
Mortgage-Backed Securities
(1)
61,225
1
8,286
-
52,940
Corporate Debt Securities
47,672
-
2,580
(43)
45,049
Other Securities
(2)
8,097
-
-
-
8,097
Total
$
592,323
$
1,669
$
16,616
$
(43)
$
577,333
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
September 30, 2025
U.S. Government Treasury
$
170,612
$
-
$
1,348
$
169,264
Mortgage-Backed Securities
(1)
234,047
625
9,811
224,861
Total
$
404,659
$
625
$
11,159
$
394,125
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
$
89,433
$
88,479
$
170,612
$
169,264
Due after one year through five years
306,889
304,548
-
-
Due after five year through ten years
12,896
11,675
-
-
Mortgage-Backed Securities
61,225
52,940
234,047
224,861
U.S. Government Agency
113,783
111,594
-
-
Other Securities
8,097
8,097
-
-
Total
$
592,323
$
577,333
$
404,659
$
394,125
|
| 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, 2025
Available for
U.S. Government Treasury
$
14,604
$
43
$
11,832
$
240
$
26,436
$
283
U.S. Government Agency
68,734
456
82,855
2,692
151,589
3,148
States and Political Subdivisions
1,876
124
31,747
2,195
33,623
2,319
Mortgage-Backed Securities
36
-
52,861
8,286
52,897
8,286
Corporate Debt Securities
-
-
43,522
2,580
43,522
2,580
Total
$
85,250
$
623
$
222,817
$
15,993
$
308,067
$
16,616
Held to Maturity
U.S. Government Treasury
-
-
169,264
1,348
169,264
1,348
Mortgage-Backed Securities
17,694
93
113,104
9,718
130,798
9,811
Total
$
17,694
$
93
$
282,368
$
11,066
$
300,062
$
11,159
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
|