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AFS Securities (Tables)
9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Amortized cost and fair value of available-for-sale securities
The amortized cost and fair value of AFS securities, with gross unrealized gains and losses, are as follows at:
 September 30, 2024
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
U.S. Treasury$230,909 $— $10,080 $220,829 
States and political subdivisions85,599 61 2,761 82,899 
Auction rate money market preferred3,200 — 83 3,117 
Mortgage-backed securities30,577 — 1,622 28,955 
Collateralized mortgage obligations169,339 5,580 163,764 
Corporate8,150 — 908 7,242 
Total$527,774 $66 $21,034 $506,806 
 December 31, 2023
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
U.S. Treasury$231,218 $— $16,417 $214,801 
States and political subdivisions94,837 1,032 2,993 92,876 
Auction rate money market preferred3,200 — 269 2,931 
Mortgage-backed securities35,321 — 2,506 32,815 
Collateralized mortgage obligations187,248 — 9,473 177,775 
Corporate8,150 — 1,200 6,950 
Total$559,974 $1,032 $32,858 $528,148 
Amortized cost and fair value of available-for-sale securities by contractual maturity
The amortized cost and fair value of AFS securities by contractual maturity at September 30, 2024 are as follows:
MaturingSecurities with Variable Monthly Payments or Noncontractual Maturities
Due in
One Year
or Less
After One
Year But
Within
Five Years
After Five
Years But
Within
Ten Years
After
Ten Years
Total
U.S. Treasury$19,944 $210,965 $— $— $— $230,909 
States and political subdivisions15,915 22,900 18,429 28,355 — 85,599 
Auction rate money market preferred— — — — 3,200 3,200 
Mortgage-backed securities— — — — 30,577 30,577 
Collateralized mortgage obligations— — — — 169,339 169,339 
Corporate— — 8,150 — — 8,150 
Total amortized cost$35,859 $233,865 $26,579 $28,355 $203,116 $527,774 
Fair value$35,539 $223,815 $24,943 $26,673 $195,836 $506,806 
Schedule of Realized Gain (Loss) [Table Text Block]
A summary of the sales activity of AFS securities is as follows for the:
Three Months Ended 
 September 30
Nine Months Ended 
 September 30
2024202320242023
Proceeds from sales of AFS securities$— $— $— $18,089 
Realized gains (losses)— — — 67 
Applicable income tax expense (benefit)— — — 14 
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The information in the following tables pertains to AFS securities with gross unrealized losses at September 30, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous loss position.
 September 30, 2024
 Less Than Twelve MonthsTwelve Months or More 
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Total
Unrealized
Losses
U.S. Treasury$— $— $10,080 $220,829 $10,080 
States and political subdivisions50 5,741 2,711 39,536 2,761 
Auction rate money market preferred— — 83 3,117 83 
Mortgage-backed securities— — 1,622 28,955 1,622 
Collateralized mortgage obligations— — 5,580 157,945 5,580 
Corporate— — 908 7,242 908 
Total$50 $5,741 $20,984 $457,624 $21,034 
Number of securities in an unrealized loss position:51 181 232 
 December 31, 2023
 Less Than Twelve MonthsTwelve Months or More
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Total
Unrealized
Losses
U.S. Treasury$— $— $16,417 $214,801 $16,417 
States and political subdivisions42 7,172 2,951 37,011 2,993 
Auction rate money market preferred— — 269 2,931 269 
Mortgage-backed securities10 2,505 32,805 2,506 
Collateralized mortgage obligations116 4,554 9,357 173,221 9,473 
Corporate— — 1,200 6,950 1,200 
Total$159 $11,736 $32,699 $467,719 $32,858 
Number of securities in an unrealized loss position:22 186 208