| Summary of Financial Assets Measured at Fair Value on Recurring Basis |
The following tables present the balances of financial assets measured at fair value on a recurring basis as of the dates stated.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
(Dollars in thousands) |
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Securities available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage backed securities |
|
$ |
178,612 |
|
|
$ |
— |
|
|
$ |
178,612 |
|
|
$ |
— |
|
U.S. Treasury and agencies |
|
|
70,988 |
|
|
|
— |
|
|
|
70,988 |
|
|
|
— |
|
State and municipals |
|
|
43,367 |
|
|
|
— |
|
|
|
43,367 |
|
|
|
— |
|
Corporate bonds |
|
|
34,991 |
|
|
|
— |
|
|
|
34,491 |
|
|
|
500 |
|
Total securities available for sale |
|
$ |
327,958 |
|
|
$ |
— |
|
|
$ |
327,458 |
|
|
$ |
500 |
|
Other assets |
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage servicing rights assets |
|
$ |
249 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
249 |
|
Rabbi trust assets |
|
|
643 |
|
|
|
643 |
|
|
|
— |
|
|
|
— |
|
Interest rate swap asset |
|
|
56 |
|
|
|
— |
|
|
|
56 |
|
|
|
— |
|
Other liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swap liability |
|
|
57 |
|
|
|
— |
|
|
|
57 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
(Dollars in thousands) |
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Securities available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage backed securities |
|
$ |
164,438 |
|
|
$ |
— |
|
|
$ |
164,438 |
|
|
$ |
— |
|
U.S. Treasury and agencies |
|
|
69,455 |
|
|
|
— |
|
|
|
69,455 |
|
|
|
— |
|
State and municipals |
|
|
42,937 |
|
|
|
— |
|
|
|
42,937 |
|
|
|
— |
|
Corporate bonds |
|
|
35,205 |
|
|
|
— |
|
|
|
34,455 |
|
|
|
750 |
|
Total securities available for sale |
|
$ |
312,035 |
|
|
$ |
— |
|
|
$ |
311,285 |
|
|
$ |
750 |
|
Other assets |
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage servicing rights assets |
|
$ |
386 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
386 |
|
Rabbi trust assets |
|
|
600 |
|
|
|
600 |
|
|
|
— |
|
|
|
— |
|
Mortgage derivative asset |
|
|
140 |
|
|
|
— |
|
|
|
140 |
|
|
|
— |
|
Interest rate swap asset |
|
|
95 |
|
|
|
— |
|
|
|
95 |
|
|
|
— |
|
Other liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swap liability |
|
$ |
95 |
|
|
$ |
— |
|
|
$ |
95 |
|
|
$ |
— |
|
|
| Summary of Assets Measured at Fair Value |
The following tables summarize assets that were measured at fair value on a nonrecurring basis as of the dates stated.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
(Dollars in thousands) |
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Other equity investments |
|
$ |
4,641 |
|
|
$ |
— |
|
|
$ |
1,635 |
|
|
$ |
3,006 |
|
Collateral-dependent loans |
|
|
3,916 |
|
|
|
— |
|
|
|
— |
|
|
|
3,916 |
|
Loans held for sale |
|
|
12,380 |
|
|
|
— |
|
|
|
12,380 |
|
|
|
— |
|
Other non-real estate owned (1) |
|
|
222 |
|
|
|
— |
|
|
|
— |
|
|
|
222 |
|
|
|
(1) Included in other assets on the consolidated balance sheets. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
(Dollars in thousands) |
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Other equity investments |
|
$ |
4,834 |
|
|
$ |
— |
|
|
$ |
1,828 |
|
|
$ |
3,006 |
|
Collateral-dependent loans |
|
|
6,954 |
|
|
|
— |
|
|
|
— |
|
|
|
6,954 |
|
Loans held for sale |
|
|
30,976 |
|
|
|
— |
|
|
|
30,976 |
|
|
|
— |
|
Other real estate owned ("OREO") (1) |
|
|
279 |
|
|
|
— |
|
|
|
— |
|
|
|
279 |
|
|
|
(1) Included in other assets on the consolidated balance sheets. |
|
|
| Summary of Estimated Fair Values and Related Carrying Amounts and Valuation Level of Financial Instruments |
The following tables present the estimated fair values, related carrying amounts, and valuation level of the financial instruments as of the dates stated.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
|
|
|
|
|
|
|
|
Fair Value Measurements |
|
(Dollars in thousands) |
|
Carrying Value |
|
|
Fair Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Financial Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due from banks |
|
$ |
131,199 |
|
|
$ |
131,199 |
|
|
$ |
131,199 |
|
|
$ |
— |
|
|
$ |
— |
|
Federal funds sold |
|
|
628 |
|
|
|
628 |
|
|
|
628 |
|
|
|
— |
|
|
|
— |
|
Securities available for sale |
|
|
327,958 |
|
|
|
327,958 |
|
|
|
— |
|
|
|
327,458 |
|
|
|
500 |
|
Restricted equity investments |
|
|
18,925 |
|
|
|
18,925 |
|
|
|
— |
|
|
|
18,925 |
|
|
|
— |
|
Other equity investments |
|
|
4,641 |
|
|
|
4,641 |
|
|
|
— |
|
|
|
1,635 |
|
|
|
3,006 |
|
Other investments |
|
|
20,938 |
|
|
|
20,938 |
|
|
|
— |
|
|
|
— |
|
|
|
20,938 |
|
Loans held for sale |
|
|
12,380 |
|
|
|
12,380 |
|
|
|
— |
|
|
|
12,380 |
|
|
|
— |
|
Loans held for investment, net |
|
|
1,956,611 |
|
|
|
1,880,118 |
|
|
|
— |
|
|
|
— |
|
|
|
1,880,118 |
|
Accrued interest receivable |
|
|
11,711 |
|
|
|
11,711 |
|
|
|
— |
|
|
|
11,711 |
|
|
|
— |
|
Bank owned life insurance |
|
|
887 |
|
|
|
887 |
|
|
|
— |
|
|
|
887 |
|
|
|
— |
|
MSR assets |
|
|
249 |
|
|
|
249 |
|
|
|
— |
|
|
|
— |
|
|
|
249 |
|
Financial Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing demand |
|
$ |
432,939 |
|
|
$ |
432,939 |
|
|
$ |
432,939 |
|
|
$ |
— |
|
|
$ |
— |
|
Interest-bearing demand and money market |
|
|
624,108 |
|
|
|
624,108 |
|
|
|
— |
|
|
|
624,108 |
|
|
|
— |
|
Savings |
|
|
101,560 |
|
|
|
101,560 |
|
|
|
— |
|
|
|
101,560 |
|
|
|
— |
|
Time |
|
|
851,659 |
|
|
|
852,616 |
|
|
|
— |
|
|
|
— |
|
|
|
852,616 |
|
FHLB borrowings |
|
|
150,000 |
|
|
|
150,659 |
|
|
|
— |
|
|
|
150,659 |
|
|
|
— |
|
Subordinated notes, net |
|
|
24,928 |
|
|
|
23,996 |
|
|
|
— |
|
|
|
— |
|
|
|
23,996 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
|
|
|
|
|
|
|
|
Fair Value Measurements |
|
(Dollars in thousands) |
|
Carrying Value |
|
|
Fair Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Financial Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due from banks |
|
$ |
173,533 |
|
|
$ |
173,533 |
|
|
$ |
173,533 |
|
|
$ |
— |
|
|
$ |
— |
|
Restricted cash |
|
|
2,459 |
|
|
|
2,459 |
|
|
|
2,459 |
|
|
|
— |
|
|
|
— |
|
Federal funds sold |
|
|
838 |
|
|
|
838 |
|
|
|
838 |
|
|
|
— |
|
|
|
— |
|
Securities available for sale |
|
|
312,035 |
|
|
|
312,035 |
|
|
|
— |
|
|
|
311,285 |
|
|
|
750 |
|
Restricted equity investments |
|
|
19,275 |
|
|
|
19,275 |
|
|
|
— |
|
|
|
19,275 |
|
|
|
— |
|
Other equity investments |
|
|
4,834 |
|
|
|
4,834 |
|
|
|
— |
|
|
|
1,828 |
|
|
|
3,006 |
|
Other investments |
|
|
19,405 |
|
|
|
19,405 |
|
|
|
— |
|
|
|
— |
|
|
|
19,405 |
|
Loans held for sale |
|
|
30,976 |
|
|
|
30,976 |
|
|
|
— |
|
|
|
30,976 |
|
|
|
— |
|
Loans held for investment, net |
|
|
2,088,774 |
|
|
|
1,998,668 |
|
|
|
— |
|
|
|
— |
|
|
|
1,998,668 |
|
Accrued interest receivable |
|
|
12,537 |
|
|
|
12,537 |
|
|
|
— |
|
|
|
12,537 |
|
|
|
— |
|
Bank owned life insurance |
|
|
1,083 |
|
|
|
1,083 |
|
|
|
— |
|
|
|
1,083 |
|
|
|
— |
|
MSR assets |
|
|
386 |
|
|
|
386 |
|
|
|
— |
|
|
|
— |
|
|
|
386 |
|
Financial Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing demand |
|
$ |
452,690 |
|
|
$ |
452,690 |
|
|
$ |
452,690 |
|
|
$ |
— |
|
|
$ |
— |
|
Interest-bearing demand and money market |
|
|
598,875 |
|
|
|
598,875 |
|
|
|
— |
|
|
|
598,875 |
|
|
|
— |
|
Savings |
|
|
100,857 |
|
|
|
100,857 |
|
|
|
— |
|
|
|
100,857 |
|
|
|
— |
|
Time |
|
|
1,027,020 |
|
|
|
1,029,199 |
|
|
|
— |
|
|
|
— |
|
|
|
1,029,199 |
|
FHLB borrowings |
|
|
150,000 |
|
|
|
152,782 |
|
|
|
— |
|
|
|
152,782 |
|
|
|
— |
|
Subordinated notes, net |
|
|
39,789 |
|
|
|
38,765 |
|
|
|
— |
|
|
|
— |
|
|
|
38,765 |
|
|