Debt Securities (Tables)

9 Months Ended

Sep. 30, 2024

Debt Securities

Summary of amortized cost and fair value of debt securities available for sale

	September 30, 2024
	Amortized		Gross Unrealized				Fair
	Cost		Gain		Loss		Value
Available for sale:
U.S. Treasury and Agency securities	$	184,507	$	229	$	(2,200)	$	182,536
Mortgage-backed securities		31,748		—		(3,041)		28,707
Collateralized mortgage obligations		234,992		138		(10,107)		225,023
Collateralized debt obligations		146		—		(3)		143
Total	$	451,393	$	367	$	(15,351)	$	436,409

	December 31, 2023
	Amortized		Gross Unrealized				Fair
	Cost		Gain		Loss		Value
Available for sale:
U.S. Treasury and Agency securities	$	253,107	$	57	$	(4,176)	$	248,988
Mortgage-backed securities		35,757		—		(3,830)		31,927
Collateralized mortgage obligations		151,196		27		(13,066)		138,157
Collateralized debt obligations		151		—		(10)		141
Total	$	440,211	$	84	$	(21,082)	$	419,213

Schedule of information pertaining to sales of available for sale debt securities

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Proceeds from the sale of debt securities	$	—	$	—	$	—	$	2,977
Gross realized gains	$	—	$	—	$	—	$	1
Gross realized losses		—		—		—		(3)
Total net realized losses	$	—	$	—	$	—	$	(2)

Schedule of amortized cost and fair value of debt securities available for sale, shown by contractual maturity

	Amortized		Fair
	Cost		Value
U.S. Treasury and Agency securities:
Due less than one year	$	119,844	$	120,068
Due after one year through two years		64,663		62,468
Mortgage-backed securities		31,748		28,707
Collateralized mortgage obligations		234,992		225,023
Collateralized debt obligations		146		143
Total	$	451,393	$	436,409

Summary of available for sale debt securities, at fair value, continuous unrealized loss position

	September 30, 2024
	Less than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
U.S. Treasury and Agency securities	$	—	$	—	$	77,463	$	(2,200)	$	77,463	$	(2,200)
Mortgage-backed securities		4,155		(28)		24,552		(3,013)		28,707		(3,041)
Collateralized mortgage obligations		92,182		(412)		100,450		(9,695)		192,632		(10,107)
Collateralized debt obligations		—		—		143		(3)		143		(3)
Total	$	96,337	$	(440)	$	202,608	$	(14,911)	$	298,945	$	(15,351)

	December 31, 2023
	Less than 12 Months				12 Months or More				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
U.S. Treasury and Agency securities	$	49,836	$	(1)	$	125,183	$	(4,175)	$	175,019	$	(4,176)
Mortgage-backed securities		—		—		31,927		(3,830)		31,927		(3,830)
Collateralized mortgage obligations		10,297		(221)		111,554		(12,845)		121,851		(13,066)
Collateralized debt obligations		—		—		141		(10)		141		(10)
Total	$	60,133	$	(222)	$	268,805	$	(20,860)	$	328,938	$	(21,082)