v3.25.2
FAIR VALUE DISCLOSURES (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The tables below present the balances of assets measured at fair value on a recurring basis:
June 30, 2025
Fair Value Measurements UsingAssets
at Fair Value
(dollars in thousands)Level 1Level 2Level 3
Assets:
U.S. government sponsored agency securities$0 $113,091 $0 $113,091 
Mortgage-backed securities: residential0 439,805 0 439,805 
State and municipal securities0 439,503 4,558 444,061 
Total securities available-for-sale0 992,399 4,558 996,957 
Mortgage banking derivative0 149 0 149 
Interest rate swap derivative0 17,204 0 17,204 
Total assets$0 $1,009,752 $4,558 $1,014,310 
Liabilities:
Mortgage banking derivative$0 $18 $0 $18 
Interest rate swap derivative0 17,204 0 17,204 
Total liabilities$0 $17,222 $0 $17,222 
December 31, 2024
Fair Value Measurements UsingAssets
at Fair Value
(dollars in thousands)Level 1Level 2Level 3
Assets:        
U.S. government sponsored agency securities$0 $109,435 $0 $109,435 
Mortgage-backed securities: residential0 422,409 0 422,409 
State and municipal securities0 454,922 4,660 459,582 
Total securities available-for-sale0 986,766 4,660 991,426 
Mortgage banking derivative0 94 0 94 
Interest rate swap derivative0 25,403 0 25,403 
Total assets$0 $1,012,263 $4,660 $1,016,923 
Liabilities:
Interest rate swap derivative0 25,403 0 25,403 
Total liabilities$0 $25,403 $0 $25,403 
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis
The tables below present the balances of assets measured at fair value on a nonrecurring basis:
June 30, 2025
Fair Value Measurements UsingAssets
at Fair Value
(dollars in thousands)Level 1Level 2Level 3
Assets
Collateral dependent loans:
Commercial and industrial loans:
Working capital lines of credit loans$0 $0 $15,770 $15,770 
Non-working capital loans0 0 3,530 3,530 
Commercial real estate and multi-family residential loans:
Owner occupied loans0 0 928 928 
Agri-business and agricultural loans:
Loans secured by farmland0 0 27 27 
Total collateral dependent loans0 0 20,255 20,255 
Total assets$0 $0 $20,255 $20,255 
December 31, 2024
Fair Value Measurements UsingAssets
at Fair Value
(dollars in thousands)Level 1Level 2Level 3
Assets        
Collateral dependent loans:        
Commercial and industrial loans:        
Working capital lines of credit loans$0 $0 $23,174 $23,174 
Non-working capital loans0 0 3,281 3,281 
Commercial real estate and multi-family residential loans:
Owner occupied loans0 0 664 664 
Agri-business and agricultural loans:
Loans secured by farmland0 0 32 32 
Total collateral dependent loans0 0 27,151 27,151 
Total assets$0 $0 $27,151 $27,151 
Schedule of Valuation Methodology and Unobservable Inputs for Level 3 Assets Measured at Fair Value on a Non-Recurring Basis
The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at June 30, 2025:
(dollars in thousands)Fair ValueValuation MethodologyUnobservable InputsAverageRange of Inputs
Collateral dependent loans:          
Commercial and industrial$19,300 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability44 %
1%-99%
Collateral dependent loans:    
Commercial real estate and multi-family residential loans928 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability29 %
2%-57%
Collateral dependent loans:
Agri-business and agricultural27 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability57 %
The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2024:
(dollars in thousands)Fair ValueValuation MethodologyUnobservable InputsAverageRange of Inputs
Collateral dependent loans:          
Commercial and industrial$26,455 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability51 %
4%-99%
Collateral dependent loans:    
Commercial real estate and multi-family residential loans664 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability54 %
Collateral dependent loans:    
Agri-business and agricultural32 Collateral based measurementsDiscount to reflect current market conditions and ultimate collectability54 %
Schedule of Fair Values and the Related Carrying Values of Financial Instruments
The following tables contain the estimated fair values and the related carrying values of the Company’s financial instruments. Items that are not financial instruments are not included.
June 30, 2025
Carrying
Value		Estimated Fair Value
(dollars in thousands)Level 1Level 2Level 3Total
Financial Assets:          
Cash and cash equivalents$310,180 $310,180 $0 $0 $310,180 
Securities available-for-sale996,957 0 992,399 4,558 996,957 
Securities held-to-maturity132,389 0 107,979 0 107,979 
Real estate mortgages held-for-sale1,637 0 1,686 0 1,686 
Loans, net5,160,275 0 0 5,074,917 5,074,917 
Mortgage banking derivative149 0 149 0 149 
Interest rate swap derivative17,204 0 17,204 0 17,204 
Federal Reserve and Federal Home Loan Bank Stock21,420 N/AN/AN/AN/A
Accrued interest receivable29,109 0 8,199 20,910 29,109 
Financial Liabilities:
Certificates of deposit$789,414 $0 $786,013 $0 $786,013 
All other deposits5,387,419 5,387,419 0 0 5,387,419 
Federal Home Loan Bank advance1,200 0 758 0 758 
Miscellaneous borrowings5,000 0 4,999 0 4,999 
Mortgage banking derivative18 0 18 0 18 
Interest rate swap derivative17,204 0 17,204 0 17,204 
Standby letters of credit196 0 0 196 196 
Accrued interest payable9,996 388 9,608 0 9,996 
December 31, 2024
Carrying
Value		Estimated Fair Value
(dollars in thousands)Level 1Level 2Level 3Total
Financial Assets:          
Cash and cash equivalents$168,205 $168,205 $0 $0 $168,205 
Securities available-for-sale991,426 0 986,766 4,660 991,426 
Securities held-to-maturity131,568 0 113,107 0 113,107 
Real estate mortgages held-for-sale1,700 0 1,733 0 1,733 
Loans, net5,031,988 0 0 4,916,231 4,916,231 
Mortgage banking derivative94 0 94 0 94 
Interest rate swap derivative25,403 0 25,403 0 25,403 
Federal Reserve and Federal Home Loan Bank Stock21,420 N/AN/AN/AN/A
Accrued interest receivable28,446 0 8,178 20,268 28,446 
Financial Liabilities:
Certificates of deposit$855,876 $0 $851,933 $0 $851,933 
All other deposits5,045,090 5,045,090 0 0 5,045,090 
Interest rate swap derivative25,403 0 25,403 0 25,403 
Standby letters of credit294 0 0 285 285 
Accrued interest payable15,117 425 14,692 0 15,117