| Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis |
The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, for the dates indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | | Fair
Value | | Readily
Available
Market
Prices
(Level 1) | | Observable
Market
Data
(Level 2) | | Company
Determined
Fair Value
(Level 3) | | June 30, 2025 | | | | | | | | | | Financial assets: | | | | | | | | | | Trading securities | | $ | 5,326 | | | $ | 5,326 | | | $ | — | | | $ | — | | | AFS debt securities: | | | | | | | | | | | | | | | | | | | Obligations of states and political subdivisions | | 5,329 | | | — | | | 5,329 | | | — | | MBS issued or guaranteed by U.S. government-sponsored enterprises | | 638,017 | | | — | | | 638,017 | | | — | | CMO issued or guaranteed by U.S. government-sponsored enterprises | | 200,219 | | | — | | | 200,219 | | | — | | Subordinated corporate bonds | | 16,652 | | | — | | | 16,652 | | | — | | | Loans held for sale | | 22,567 | | | — | | | 22,567 | | | — | | | Customer loan swaps | | 10,757 | | | — | | | 10,757 | | | — | | | Interest rate contracts | | 9,062 | | | — | | | 9,062 | | | — | | | | | | | | | | | | Fixed rate mortgage interest rate lock commitments | | 250 | | | — | | | 250 | | | — | | | Forward delivery commitments | | 131 | | | — | | | 131 | | | — | | | Financial liabilities: | | | | | | | | | | Deferred compensation | | $ | 5,326 | | | $ | 5,326 | | | $ | — | | | $ | — | | | | | | | | | | | | Customer loan swaps | | 10,797 | | | — | | | 10,797 | | | — | | | | | | | | | | | | Interest rate contracts | | 2,048 | | | — | | | 2,048 | | | — | | | Fixed rate mortgage interest rate lock commitments | | 30 | | | — | | | 30 | | | — | | | Forward delivery commitments | | 79 | | | — | | | 79 | | | — | | | December 31, 2024 | | | | | | | | | | Financial assets: | | | | | | | | | | Trading securities | | $ | 5,243 | | | $ | 5,243 | | | $ | — | | | $ | — | | | AFS debt securities: | | | | | | | | | | | | | | | | | | | Obligations of states and political subdivisions | | 5,289 | | | — | | | 5,289 | | | — | | MBS issued or guaranteed by U.S. government-sponsored enterprises | | 424,956 | | | — | | | 424,956 | | | — | | CMO issued or guaranteed by U.S. government-sponsored enterprises | | 147,479 | | | — | | | 147,479 | | | — | | Subordinated corporate bonds | | 16,025 | | | — | | | 16,025 | | | — | | | Loans held for sale | | 11,049 | | | — | | | 11,049 | | | — | | | Customer loan swaps | | 11,717 | | | — | | | 11,717 | | | — | | | Interest rate contracts | | 14,040 | | | — | | | 14,040 | | | — | | | | | | | | | | | | | | | | | | | | | Fixed rate mortgage interest rate lock commitments | | 65 | | | — | | | 65 | | | — | | | Forward delivery commitments | | 203 | | | — | | | 203 | | | — | | | Financial liabilities: | | | | | | | | | | Deferred compensation | | $ | 5,243 | | | $ | 5,243 | | | $ | — | | | $ | — | | | Customer loan swaps | | 11,787 | | | — | | | 11,787 | | | — | | | Interest rate contracts | | 232 | | | — | | | 232 | | | — | | | | | | | | | | | | | | | | | | | | | Fixed rate mortgage interest rate lock commitments | | 55 | | | — | | | 55 | | | — | | | Forward delivery commitments | | 4 | | | — | | | 4 | | | — | |
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| Carrying Amounts and Estimated Fair Value for Financial Instrument Assets and Liabilities |
The estimated fair values and related carrying amounts for assets and liabilities for which fair value is only disclosed are shown below as of the dates indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | | Carrying
Amount | | Fair Value | | Readily
Available
Market
Prices
(Level 1) | | Observable
Market
Prices
(Level 2) | | Company
Determined
Market
Prices
(Level 3) | | June 30, 2025 | | | | | | | | | | | | Financial assets: | | | | | | | | | | | | HTM debt securities | | $ | 509,298 | | | $ | 471,195 | | | $ | — | | | $ | 471,195 | | | $ | — | | Commercial real estate loans(1)(2) | | 2,066,265 | | | 1,988,552 | | | — | | | — | | | 1,988,552 | | Commercial loans(2) | | 494,808 | | | 480,452 | | | — | | | — | | | 480,452 | | Residential real estate loans(2) | | 2,004,823 | | | 1,707,514 | | | — | | | — | | | 1,707,514 | | Home equity loans(2) | | 294,398 | | | 290,913 | | | — | | | — | | | 290,913 | | Consumer loans(2) | | 18,053 | | | 16,148 | | | — | | | — | | | 16,148 | | Bank-owned life insurance(3) | | 110,342 | | | 110,342 | | | — | | | 110,342 | | | — | | | Servicing assets | | 2,934 | | | 4,968 | | | — | | | — | | | 4,968 | | | Financial liabilities: | | | | | | | | | | | | Time deposits | | $ | 773,185 | | | $ | 768,918 | | | $ | — | | | $ | 768,918 | | | $ | — | | | Short-term borrowings | | 599,367 | | | 598,869 | | | — | | | 598,869 | | | — | | | | | | | | | | | | | Junior subordinated debentures | | 61,365 | | | 49,433 | | | — | | | 49,433 | | | — | | | December 31, 2024 | | | | | | | | | | | | Financial assets: | | | | | | | | | | | | HTM debt securities | | $ | 517,778 | | | $ | 470,824 | | | $ | — | | | $ | 470,824 | | | $ | — | | Commercial real estate loans(1)(2) | | 1,694,586 | | | 1,569,165 | | | — | | | — | | | 1,569,165 | | Commercial loans(2) | | 376,929 | | | 365,556 | | | — | | | — | | | 365,556 | | Residential real estate loans(2) | | 1,742,270 | | | 1,494,961 | | | — | | | — | | | 1,494,961 | | Home equity loans(2) | | 250,854 | | | 241,992 | | | — | | | — | | | 241,992 | | Consumer loans(2) | | 14,892 | | | 13,926 | | | — | | | — | | | 13,926 | | Bank-owned life insurance(3) | | 104,308 | | | 104,308 | | | | | 104,308 | | | — | | | Servicing assets | | 2,119 | | | 4,328 | | | — | | | — | | | 4,328 | | | Financial liabilities: | | | | | | | | | | | | Time deposits | | $ | 607,245 | | | $ | 603,469 | | | $ | — | | | $ | 603,469 | | | $ | — | | | Short-term borrowings | | 500,621 | | | 500,292 | | | — | | | 500,292 | | | — | | | | | | | | | | | | | Junior subordinated debentures | | 44,331 | | | 34,357 | | | — | | | 34,357 | | | — | |
(1) Commercial real estate loan includes non-owner-occupied and owner-occupied properties. (2) The presented carrying amount is net of the allocated ACL on loans. (3) Represents a cash surrender life insurance policy recorded at the amount realized upon surrender of the policy, as a result the carrying amount approximates fair value.
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