| Schedule of Carrying Values and Fair Values of the Company's Financial Instruments |
The carrying values, fair values and placement in the fair value hierarchy of the Company's financial instruments at June 30, 2025 and December 31, 2024 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Carrying Value | | Fair Value | | Level 1 | | Level 2 | | Level 3 | | (In thousands) | | Financial Assets: | | | | | | | | | | | Cash and due from banks | $ | 313,998 | | | $ | 313,998 | | | $ | 313,998 | | | $ | — | | | $ | — | | | Federal funds sold | 8,466 | | | 8,466 | | | 8,466 | | | — | | | — | | | Marketable equity securities | 2,188 | | | 2,188 | | | 2,188 | | | — | | | — | | | Available for sale securities | 103,930 | | | 103,930 | | | 64,223 | | | 39,707 | | | — | | | Held to maturity securities | 36,434 | | | 37,764 | | | — | | | — | | | 37,764 | | | Loans receivable, net | 2,635,742 | | | 2,630,786 | | | — | | | — | | | 2,630,786 | | | Accrued interest receivable | 14,741 | | | 14,741 | | | — | | | 14,741 | | | — | | | FHLB stock | 5,051 | | | 5,051 | | | — | | | 5,051 | | | — | | | Servicing asset, net of valuation allowance | 671 | | | 671 | | | — | | | — | | | 671 | | | Derivative asset | 5,024 | | | 5,024 | | | — | | | 5,024 | | | — | | | Other real estate owned | 1,284 | | | 1,284 | | | — | | | — | | | 1,284 | | | | | | | | | | | | | Financial Liabilities: | | | | | | | | | | | Noninterest bearing deposits | $ | 397,195 | | | $ | 397,195 | | | $ | — | | | $ | 397,195 | | | $ | — | | | NOW and money market | 993,476 | | | 993,476 | | | — | | | 993,476 | | | — | | | Savings | 91,612 | | | 91,612 | | | — | | | 91,612 | | | — | | | Time deposits | 1,276,998 | | | 1,277,723 | | | — | | | — | | | 1,277,723 | | | Accrued interest payable | 11,843 | | | 11,843 | | | — | | | 11,843 | | | — | | | Advances from the FHLB | 75,000 | | | 74,958 | | | — | | | — | | | 74,958 | | | Subordinated debentures | 69,574 | | | 66,826 | | | — | | | — | | | 66,826 | | | Servicing liability | — | | | — | | | — | | | — | | | — | | | Derivative liability | 3,411 | | | 3,411 | | | — | | | 3,411 | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | Carrying Value | | Fair Value | | Level 1 | | Level 2 | | Level 3 | | (In thousands) | | Financial Assets: | | | | | | | | | | | Cash and due from banks | $ | 293,552 | | | $ | 293,552 | | | $ | 293,552 | | | $ | — | | | $ | — | | | Federal funds sold | 13,972 | | | 13,972 | | | 13,972 | | | — | | | — | | | Marketable equity securities | 2,118 | | | 2,118 | | | 2,118 | | | — | | | — | | | Available for sale securities | 107,428 | | | 107,428 | | | 63,557 | | | 43,871 | | | — | | | Held to maturity securities | 36,553 | | | 36,691 | | | — | | | 29 | | | 36,662 | | | Loans receivable, net | 2,672,959 | | | 2,637,922 | | | — | | | — | | | 2,637,922 | | | Accrued interest receivable | 14,535 | | | 14,535 | | | — | | | 14,535 | | | — | | | FHLB stock | 5,655 | | | 5,655 | | | — | | | 5,655 | | | — | | | Servicing asset, net of valuation allowance | 558 | | | 558 | | | — | | | — | | | 558 | | | Derivative asset | 7,472 | | | 7,472 | | | — | | | 7,472 | | | — | | | Other real estate owned | 8,299 | | | 8,299 | | | — | | | — | | | 8,299 | | | | | | | | | | | | | Financial Liabilities: | | | | | | | | | | | Noninterest bearing deposits | $ | 321,875 | | | $ | 321,875 | | | $ | — | | | $ | 321,875 | | | $ | — | | | NOW and money market | 1,004,503 | | | 1,004,503 | | | — | | | 1,004,503 | | | — | | | Savings | 90,220 | | | 90,220 | | | — | | | 90,220 | | | — | | | Time deposits | 1,370,972 | | | 1,374,309 | | | — | | | — | | | 1,374,309 | | | Accrued interest payable | 13,737 | | | 13,737 | | | — | | | 13,737 | | | — | | | Advances from the FHLB | 90,000 | | | 90,045 | | | — | | | — | | | 90,045 | | | Subordinated debentures | 69,451 | | | 66,167 | | | — | | | — | | | 66,167 | | | Servicing liability | — | | | — | | | — | | | — | | | — | | | Derivative liability | 4,472 | | | 4,472 | | | — | | | 4,472 | | | — | |
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