INVESTMENT SECURITIES (Tables) |
3 Months Ended |
|---|---|
Mar. 31, 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”)
unrealized gains and losses.
Available for
Amortized
Unrealized
Unrealized
Allowance for
Fair
(Dollars in Thousands)
Cost
Gains
Losses
Credit Losses
Value
March 31, 2026
U.S. Government Treasury
$
488,048
$
619
$
1,681
$
-
$
486,986
U.S. Government Agency
184,208
74
2,433
-
181,849
States and Political Subdivisions
36,717
28
2,014
-
34,731
Mortgage-Backed Securities
(1)
58,307
-
7,920
-
50,387
Corporate Debt Securities
40,768
-
2,289
(37)
38,442
Other Securities
(2)
8,155
-
-
-
8,155
Total
$
816,203
$
721
$
16,337
$
(37)
$
800,550
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
March 31, 2026
U.S. Government Treasury
$
58,580
$
-
$
127
$
58,453
Mortgage-Backed Securities
(1)
294,716
295
9,873
285,138
Total
$
353,296
$
295
$
10,000
$
343,591
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)
(2)
Includes Federal Home Loan Bank stock recorded
3.1
3.0
2025, respectively,
5.1
2025.
|
| Maturity Distribution |
Available for
Held to Maturity
(Dollars in Thousands)
Amortized Cost
Fair Value
Amortized Cost
Fair Value
Due in one year or less
$
121,530
$
121,174
$
58,580
$
58,453
Due after one year through five years
467,465
462,738
-
-
Due after five year through ten years
6,658
5,926
-
-
Mortgage-Backed Securities
58,307
50,387
294,716
285,138
U.S. Government Agency
154,088
152,170
-
-
Other Securities
8,155
8,155
-
-
Total
$
816,203
$
800,550
$
353,296
$
343,591
|
| 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, 2026
Available for
U.S. Government Treasury
$
269,603
$
1,583
$
8,932
$
98
$
278,535
$
1,681
U.S. Government Agency
62,428
294
81,269
2,139
143,697
2,433
States and Political Subdivisions
1,909
75
31,659
1,939
33,568
2,014
Mortgage-Backed Securities
17
-
50,320
7,920
50,337
7,920
Corporate Debt Securities
-
-
37,432
2,289
37,432
2,289
Total
$
333,957
$
1,952
$
209,612
$
14,385
$
543,569
$
16,337
Held to Maturity
U.S. Government Treasury
-
-
58,453
127
58,453
127
Mortgage-Backed Securities
134,957
1,204
96,232
8,669
231,189
9,873
Total
$
134,957
$
1,204
$
154,685
$
8,796
$
289,642
$
10,000
December 31, 2025
Available for
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
|