v3.25.2
Fair Value (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured on Recurring Basis Measured at Fair Value
The following tables present the balances of assets and liabilities that were measured at fair value on a recurring basis as of June 30, 2025, December 31, 2024 and June 30, 2024.
At June 30, 2025
Level 1Level 2Level 3Total
Securities available for sale
   U.S. Treasury & Agency securities$— $19,034,000 $— $19,034,000 
   Mortgage-backed securities— 224,416,000 — 224,416,000 
   State and political subdivisions— 32,687,000 — 32,687,000 
   Asset-backed securities— 2,111,000 — 2,111,000 
Total securities available for sale— 278,248,000 — 278,248,000 
   Interest rate swap agreements— 106,000 — 106,000 
   Customer loan interest swap agreements— 4,318,000 — 4,318,000 
Total interest rate swap agreements— 4,424,000 — 4,424,000 
Total assets$— $282,672,000 $— $282,672,000 

At June 30, 2025
Level 1Level 2Level 3Total
Interest rate swap agreements $— $1,003,000 $— $1,003,000 
Customer loan interest swap agreements — 4,318,000 — 4,318,000 
Total liabilities$— $5,321,000 $— $5,321,000 

At December 31, 2024
Level 1Level 2Level 3Total
Securities available for sale
   U.S. Treasury & Agency securities$— $19,796,000 $— $19,796,000 
   Mortgage-backed securities— 219,382,000 — 219,382,000 
   State and political subdivisions— 33,252,000 — 33,252,000 
   Asset-backed securities— 2,250,000 — 2,250,000 
Total securities available for sale— 274,680,000 — 274,680,000 
   Interest rate swap agreements— 198,000 — 198,000 
   Customer loan interest swap agreements— 4,859,000 — 4,859,000 
Total interest rate swap agreements— 5,057,000 — 5,057,000 
Total assets$— $279,737,000 $— $279,737,000 

At December 31, 2024
Level 1Level 2Level 3Total
Interest rate swap agreements$— $758,000 $— $758,000 
Customer loan interest swap agreements— 4,859,000 — 4,859,000 
Total liabilities$— $5,617,000 $— $5,617,000 
At June 30, 2024
Level 1Level 2Level 3Total
Securities available for sale
   U.S. Treasury & Agency securities$— $19,778,000 $— $19,778,000 
   Mortgage-backed securities— 217,823,000 — 217,823,000 
   State and political subdivisions— 33,370,000 — 33,370,000 
   Asset-backed securities— 2,530,000 — 2,530,000 
Total securities available for sale— 273,501,000 — 273,501,000 
   Interest rate swap agreements— 1,063,000 — 1,063,000 
   Customer loan interest swap agreements— 4,912,000 — 4,912,000 
Total interest swap agreements— 5,975,000 — 5,975,000 
Total assets$— $279,476,000 $— $279,476,000 

At June 30, 2024
Level 1Level 2Level 3Total
Interest rate swap agreements$— $67,000 $— $67,000 
Customer loan interest swap agreements— 4,912,000 — 4,912,000 
Total liabilities$— $4,979,000 $— $4,979,000 
Schedule of Assets Measured on Nonrecurring Basis Measured at Fair Value
The following tables include assets measured at fair value on a nonrecurring basis that have had a fair value adjustment since their initial recognition. Mortgage servicing rights are presented at fair value with no impairment reserve for each of the periods presented. There was no OREO or related allowance at June 30, 2025. OREO is presented net of an allowance of $35,000 at December 31, 2024 and with no related allowance at June 30, 2024. Only collateral-dependent IAL with a related specific ACL or a partial charge off are included in IAL for purposes of fair value disclosures. IAL below are presented net of specific allowances of $326,000 and $821,000 at June 30, 2025 and December 31, 2024, respectively. There were no collateral-dependent IAL with a related specific ACL or a partial charge off at June 30, 2024.

At June 30, 2025
Level 1Level 2Level 3Total
Mortgage servicing rights$— $2,903,000 $— $2,903,000 
Individually analyzed loans— 403,000 — 403,000 
Total assets$— $3,306,000 $— $3,306,000 

At December 31, 2024
Level 1Level 2Level 3Total
Mortgage servicing rights$— $3,054,000 $— $3,054,000 
Other real estate owned— 173,000 — 173,000 
Individually analyzed loans— 538,000 — 538,000 
Total assets$— $3,765,000 $— $3,765,000 

At June 30, 2024
Level 1Level 2Level 3Total
Mortgage servicing rights— 3,281,000 $— $3,281,000 
Other real estate owned— 208,000 — 208,000 
Total assets— 3,489,000 $— $3,489,000 
Schedule of Estimated Fair Value of Financial Instruments The carrying amount and estimated fair values for financial instruments as of June 30, 2025 were as follows:
Carrying valueEstimated fair valueLevel 1Level 2Level 3
Financial assets
Securities to be held to maturity (net of allowance for credit losses)$367,873,000 $312,508,000 $— $312,508,000 $— 
Loans (net of allowance for credit losses)
Commercial
   Real estate785,745,000 763,818,000 — — 763,818,000 
   Construction52,641,000 51,172,000 — — 51,172,000 
   Other564,539,000 561,070,000 — 403,000 560,667,000 
Municipal62,657,000 59,193,000 — — 59,193,000 
Residential
   Term718,587,000 662,101,000 — — 662,101,000 
   Construction31,164,000 30,880,000 — — 30,880,000 
Home equity line of credit133,457,000 133,188,000 — — 133,188,000 
Consumer20,388,000 18,196,000 — — 18,196,000 
Total loans2,369,178,000 2,279,618,000 — 403,000 2,279,215,000 
Mortgage servicing rights1,777,000 2,903,000 — 2,903,000 — 
Financial liabilities
Local certificates of deposit$382,289,000 $364,312,000 $— $364,312,000 $— 
National certificates of deposit796,564,000 813,756,000 — 813,756,000 — 
Total certificates of deposit1,178,853,000 1,178,068,000 — 1,178,068,000 — 
Repurchase agreements65,050,000 64,929,000 — 64,929,000 — 
Federal Home Loan Bank advances131,120,000 131,854,000 — 131,854,000 — 
Total borrowed funds196,170,000 196,783,000 — 196,783,000 — 
The carrying amounts and estimated fair values for financial instruments as of December 31, 2024 were as follows:
Carrying valueEstimated fair valueLevel 1Level 2Level 3
Financial assets
Securities to be held to maturity (net of allowance for credit losses)$369,704,000 $314,993,000 $— $314,993,000 $— 
Loans (net of allowance for credit losses)
Commercial
   Real estate752,613,000 720,898,000 — — 720,898,000 
   Construction98,773,000 94,611,000 — — 94,611,000 
   Other519,560,000 513,417,000 — 538,000 512,879,000 
Municipal61,565,000 57,657,000 — — 57,657,000 
Residential
   Term705,566,000 643,402,000 — — 643,402,000 
   Construction35,007,000 34,631,000 — — 34,631,000 
Home equity line of credit122,377,000 119,930,000 — — 119,930,000 
Consumer20,608,000 18,274,000 — — 18,274,000 
Total loans2,316,069,000 2,202,820,000 — 538,000 2,202,282,000 
Mortgage servicing rights1,894,000 3,054,000 — 3,054,000 — 
Financial liabilities
Local certificates of deposit$385,897,000 $365,937,000 $— $365,937,000 $— 
National certificates of deposit728,914,000 747,681,000 — 747,681,000 — 
Total certificates of deposit1,114,811,000 1,113,618,000 — 1,113,618,000 — 
Repurchase agreements51,278,000 51,181,000 — 51,181,000 — 
Federal Home Loan Bank advances95,000,000 95,066,000 — 95,066,000 — 
Total borrowed funds146,278,000 146,247,000 — 146,247,000 — 
The carrying amount and estimated fair values for financial instruments as of June 30, 2024 were as follows:
Carrying valueEstimated fair valueLevel 1Level 2Level 3
Financial assets
Securities to be held to maturity (net of allowance for credit losses)$377,522,000 $321,616,000 $— $321,616,000 $— 
Loans (net of allowance for credit losses)
Commercial
   Real estate738,022,000 700,230,000 — — 700,230,000 
   Construction97,804,000 92,796,000 — — 92,796,000 
   Other477,978,000 468,464,000 — — 468,464,000 
Municipal61,925,000 59,216,000 — — 59,216,000 
Residential
   Term680,446,000 610,008,000 — — 610,008,000 
   Construction34,987,000 34,556,000 — — 34,556,000 
Home equity line of credit111,484,000 111,424,000 — — 111,424,000 
Consumer20,331,000 18,049,000 — — 18,049,000 
Total loans2,222,977,000 2,094,743,000 — — 2,094,743,000 
Mortgage servicing rights2,019,000 3,281,000 — 3,281,000 — 
Financial liabilities
Local certificates of deposit$369,948,000 $350,698,000 $— $350,698,000 $— 
National certificates of deposit741,791,000 750,751,000 — 750,751,000 — 
Total certificates of deposit1,111,739,000 1,101,449,000 — 1,101,449,000 — 
Repurchase agreements56,502,000 56,372,000 — 56,372,000 — 
Federal Home Loan Bank advances174,118,000 123,851,000 — 123,851,000 — 
Total borrowed funds230,620,000 180,223,000 — 180,223,000 —