v3.25.1
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
3 Months Ended
Mar. 31, 2025
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS  
Schedule of fair value measurements of assets recognized in the accompanying statements of financial condition measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements

Fair value measurements using

Quoted prices

in active

markets

Other

Significant

for identical

observable

unobservable

assets

inputs

inputs

    

Fair value

    

(Level 1)

    

(Level 2)

    

(Level 3)

(In Thousands)

March 31, 2025

  

  

  

  

Available-for-sale securities

Agency mortgage-backed securities

$

308,502

$

$

308,502

$

Agency collateralized mortgage obligations

 

116,111

116,111

States and political subdivisions securities

 

52,748

52,748

Small Business Administration securities

 

58,553

58,553

Interest rate derivative asset

 

6,995

6,995

Interest rate derivative liability

 

(18,409)

(18,409)

December 31, 2024

 

Available-for-sale securities

Agency mortgage-backed securities

$

305,907

$

$

305,907

$

Agency collateralized mortgage obligations

 

113,624

113,624

States and political subdivisions securities

 

55,948

55,948

Small Business Administration securities

 

57,894

57,894

Interest rate derivative asset

 

8,065

8,065

Interest rate derivative liability

 

(25,000)

(25,000)

Schedule of fair value measurements of assets measured at fair value on a nonrecurring basis

Fair Value Measurements Using

Quoted prices

in active

markets

Other

Significant

for identical

observable

unobservable

assets

inputs

inputs

    

Fair value

    

(Level 1)

    

(Level 2)

    

(Level 3)

(In Thousands)

March 31, 2025

  

  

  

  

Collateral-dependent loans

$

$

$

$

December 31, 2024

 

 

  

 

  

 

  

Collateral-dependent loans

$

701

$

$

$

701

Schedule of estimated fair values of the Company's financial instruments not recorded at fair value on the statements of financial condition

March 31, 2025

    

December 31, 2024

Carrying

Fair

Hierarchy

Carrying

Fair

Hierarchy

    

Amount

    

Value

    

Level

    

Amount

    

Value

    

Level

(In Thousands)

Financial assets

  

 

  

  

  

  

  

Cash and cash equivalents

$

217,181

$

217,181

 

1

$

195,756

$

195,756

 

1

Held-to-maturity securities

185,853

165,214

2

187,433

162,765

2

Mortgage loans held for sale

 

6,857

6,857

 

2

 

6,937

 

6,937

 

2

Loans, net of allowance for credit losses

 

4,690,636

4,546,532

 

3

 

4,690,393

 

4,529,729

 

3

Interest receivable

 

21,504

21,504

 

3

 

20,430

 

20,430

 

3

Investment in FHLBank stock and other assets

 

25,813

25,813

 

3

 

28,392

 

28,392

 

3

Financial liabilities

 

 

 

 

 

Deposits

 

4,758,046

4,755,258

 

3

 

4,605,549

 

4,602,312

 

3

Short-term borrowings

 

435,229

435,229

 

3

 

578,691

 

578,691

 

3

Subordinated debentures

 

25,774

25,774

 

3

 

25,774

 

25,774

 

3

Subordinated notes

 

74,950

74,813

 

2

 

74,876

 

74,438

 

2

Interest payable

 

5,416

5,416

 

3

 

12,761

 

12,761

 

3

Unrecognized financial instruments (net of contractual value)

 

 

 

 

 

Commitments to originate loans

 

 

3

 

 

 

3

Letters of credit

 

78

78

 

3

 

72

 

72

 

3

Lines of credit

 

 

3

 

 

 

3