The fair values of the Company’s financial instruments not recorded at fair value on a recurring or nonrecurring basis are as follows at March 31, 2025 and December 31, 2024:


	Carrying		Fair		Fair Value Measurements at March 31, 2025
(In Thousands)	Value		Value		Level I		Level II		Level III
Financial assets:






Loans held for sale (1)	$	2,583	$	2,583	$	2,583	$	—	$	—
Loans, net	1,887,386		1,909,203		—		—		1,909,203



Financial liabilities:

Time deposits & brokered deposits	519,992		519,012		—		—		519,012
Short-term borrowings	82,910		82,910		82,910		—		—
Long-term borrowings	214,542		215,060		—		—		215,060

(1) The financial instrument is carried at cost the lower of cost or fair value at, March 31, 2025 which is not significantly different than the fair value of the instruments


	Carrying		Fair		Fair Value Measurements at December 31, 2024
(In Thousands)	Value		Value		Level I		Level II		Level III
Financial assets:





Loans held for sale (1)	$	3,266	$	3,266	$	3,266	$	—	$	—
Loans, net	1,865,230		1,869,035		—		—		1,869,035



Financial liabilities:

Time deposits & brokered deposits	519,141		518,232		—		—		518,232
Short-term borrowings	42,200		42,200		42,200		—		—
Long-term borrowings	254,588		254,113		—		—		254,113

(1) The financial instrument is carried at cost the lower of cost or fair value at, December 31, 2024 which is not significantly different than the fair value of the instruments