XML 82 R24.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Investment Securities (Tables)
3 Months Ended
Mar. 31, 2024
Securities Financing Transactions Disclosures [Abstract]  
Unrealized Gain (Loss) on Investments
The amortized cost and estimated fair value of investment securities for the periods presented:
March 31, 2024
(In thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross Unrealized
Losses
Estimated
Fair Value
Available-for-sale
U.S. Treasury and U.S. government agencies$36,664 $ $1,174 $35,490 
Mortgage-backed U.S. government agencies165,402  18,637 146,765 
State and political subdivision obligations4,326  693 3,633 
Corporate debt securities35,737  3,993 31,744 
Total available-for-sale debt securities242,129  24,497 217,632 
Held-to-maturity
U.S. Treasury and U.S. government agencies$245,839 $ $30,821 $215,018 
Mortgage-backed U.S. government agencies42,376  5,869 36,507 
State and political subdivision obligations83,318 2 6,958 76,362 
Corporate debt securities25,465  2,148 23,317 
Total held-to-maturity debt securities396,998 2 45,796 351,204 
Total$639,127 $2 $70,293 $568,836 
December 31, 2023
(In thousands)Amortized
Cost
Gross
Unrealized
Gains
Gross Unrealized
Losses
Estimated
Fair Value
Available-for-sale
U.S. Treasury and U.S. government agencies$36,637 $— $988 $35,649 
Mortgage-backed U.S. government agencies169,184 — 16,501 152,683 
State and political subdivision obligations4,332 — 686 3,646 
Corporate debt securities35,733 — 4,156 31,577 
Total available-for-sale debt securities$245,886 $— $22,331 $223,555 
Held-to-maturity     
U.S. Treasury and U.S. government agencies$245,805 $$28,676 $217,131 
Mortgage-backed U.S. government agencies43,818 — 5,523 38,295 
State and political subdivision obligations84,035 11 6,486 77,560 
Corporate debt securities25,470 — 935 24,535 
Total held-to-maturity debt securities399,128 13 41,620 357,521 
Total$645,014 $13 $63,951 $581,076 
Schedule of Fair Value and Unrealized Loss on Debt Security Investments in a Continuous Unrealized Loss Position
The following tables present gross unrealized losses and fair value of debt investment securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the periods presented:
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
March 31, 2024Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Available-for-sale debt securities:
U.S. Treasury and U.S. government agencies$ $ 19$35,490 $1,174 19$35,490 $1,174 
Mortgage-backed U.S. government agencies  93146,765 18,637 93146,765 18,637 
State and political subdivision obligations  83,633 693 83,633 693 
Corporate debt securities  1831,744 3,993 1831,744 3,993 
Total available-for-sale debt securities$ $ 138$217,632 $24,497 138$217,632 $24,497 
Held-to-maturity debt securities:
U.S. Treasury and U.S. government agencies  145215,018 30,821 145215,018 30,821 
Mortgage-backed U.S. government agencies  6436,507 5,869 6436,507 5,869 
State and political subdivision obligations165,846 86 17770,201 6,872 19376,047 6,958 
Corporate debt securities  1523,317 2,148 1523,317 2,148 
Total held-to-maturity debt securities165,846 86 401345,043 45,710 417350,889 45,796 
Total16$5,846 $86 539$562,675 $70,207 555$568,521 $70,293 
(Dollars in thousands)Less Than 12 Months12 Months or MoreTotal
December 31, 2023Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Number
of
Securities
Estimated
Fair
Value
Gross
Unrealized
Losses
Available-for-sale securities:
U.S. Treasury and U.S. government agencies$— $— 19$35,649 $988 19$35,649 $988 
Mortgage-backed U.S. government agencies14,015 26 92148,668 16,475 93152,683 16,501 
State and political subdivision obligations— — 83,646 686 83,646 686 
Corporate debt securities1410 90 1731,167 4,066 1831,577 4,156 
Total available-for-sale securities24,425 116 136219,130 22,215 138223,555 22,331 
Held-to-maturity securities:
U.S. Treasury and U.S. government agencies1$2,002 $— 144$215,129 $28,676 145$217,131 $28,676 
Mortgage-backed U.S. government agencies— — 6438,295 5,523 6438,295 5,523 
State and political subdivision obligations258,729 63 17068,831 6,423 19577,560 6,486 
Corporate debt securities1936 57 1423,599 878 1524,535 935 
Total held to maturity securities2711,667 120 392345,854 41,500 419357,521 41,620 
Total29$16,092 $236 528$564,984 $63,715 557$581,076 $63,951 
Investments Classified by Contractual Maturity Date
The table below illustrates the contractual maturity of debt investment securities at amortized cost and estimated fair value. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay with or without call or prepayment penalties.
(In thousands)Available-for-saleHeld-to-maturity
March 31, 2024Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Due in 1 year or less$12,496 $12,380 $13,047 $12,906 
Due after 1 year but within 5 years34,425 32,819 125,456 116,182 
Due after 5 years but within 10 years27,475 23,743 195,525 168,141 
Due after 10 years2,331 1,925 20,594 17,468 
76,727 70,867 354,622 314,697 
Mortgage-backed securities165,402 146,765 42,376 36,507 
$242,129 $217,632 $396,998 $351,204