v3.25.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities, Measured on Recurring Basis [Table]
The following tables summarize the balances of assets and liabilities measured at fair value on a recurring basis at the dates indicated:
June 30, 2025
TotalLevel 1Level 2Level 3
(Dollars in thousands)
Assets
Investment securities available for sale:
U.S. government and agency securities$11,510 $— $11,510 $— 
Municipal securities50,215 — 50,215 — 
Residential CMO and MBS(1)
317,214 — 317,214 — 
Commercial CMO and MBS(1)
260,720 — 260,720 — 
June 30, 2025
TotalLevel 1Level 2Level 3
(Dollars in thousands)
Corporate obligations10,010 — 10,010 — 
Other asset-backed securities6,783 — 6,783 — 
Total investment securities available for sale656,452 — 656,452 — 
Equity security285 285 — — 
Derivative assets - interest rate swaps17,466 — 17,466 — 
Liabilities
Derivative liabilities - interest rate swaps$17,466 $— $17,466 $— 
(1) U.S. government agency and government-sponsored enterprise CMO and MBS.
December 31, 2024
TotalLevel 1Level 2Level 3
(Dollars in thousands)
Assets
Investment securities available for sale:
U.S. government and agency securities$12,544 $— $12,544 $— 
Municipal securities50,942 — 50,942 — 
Residential CMO and MBS(1)
369,331 — 369,331 — 
Commercial CMO and MBS(1)
309,741 — 309,741 — 
Corporate obligations11,770 — 11,770 — 
Other asset-backed securities10,066 — 10,066 — 
Total investment securities available for sale764,394 — 764,394 — 
Equity security297 297 — — 
Derivative assets - interest rate swaps23,867 — 23,867 — 
Liabilities
Derivative liabilities - interest rate swaps$23,867 $— $23,867 $— 
(1) U.S. government agency and government-sponsored enterprise CMO and MBS.
Schedule of Fair Value, Assets, Nonrecurring Basis [Table] The following tables present assets measured at fair value on a nonrecurring basis at the dates indicated:
Fair Value at June 30, 2025
TotalLevel 1Level 2Level 3
(Dollars in thousands)
Collateral-dependent loans:
Commercial business:
Owner-occupied CRE$138 $— $— $138 
Total assets measured at fair value on a nonrecurring basis$138 $— $— $138 
Fair Value at December 31, 2024
TotalLevel 1Level 2Level 3
(Dollars in thousands)
Collateral-dependent loans:
Commercial business:
Owner-occupied CRE$2,250 $— $— $2,250 
 Total commercial business2,250 — — 2,250 
Consumer160 — — 160 
Total assets measured at fair value on a nonrecurring basis$2,410 $— $— $2,410 
Schedule of Fair Value Measurements, Non-recurring Basis, Level 3 [Table]
The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at the dates indicated:
June 30, 2025
Fair
Value		Valuation
Technique(s)		Unobservable Input(s)Range of Inputs
Weighted
Average (1)
(Dollars in thousands)
Collateral-dependent loans$138 Market approachAdjustments to reflect current conditions and selling costs
10.0% - 10.0%
10.0%
December 31, 2024
Fair
Value		Valuation
Technique(s)		Unobservable Input(s)Range of Inputs
Weighted
Average (1)
(Dollars in thousands)
Collateral-dependent loans$2,410 Market approachAdjustments to reflect current conditions and selling costs
10.0% - 10.0%
10.0%
(1) Weighted by net discount to net appraisal fair value
Schedule of Fair Value, Financial Instruments, Carrying Value [Table]
The following tables present the carrying value of the Company’s financial instruments and their corresponding estimated fair values at the dates indicated:
June 30, 2025
Carrying
Value		Fair
Value		Fair Value Measurements Using:
Level 1Level 2Level 3
(Dollars in thousands)
Financial Assets:
Cash and cash equivalents$254,096 $254,096 $254,096 $— $— 
Investment securities available for sale656,452 656,452 — 656,452 — 
Investment securities held to maturity689,822 629,658 — 629,658 — 
Loans receivable, net4,722,326 4,684,464 — — 4,684,464 
Derivative assets - interest rate swaps17,466 17,466 — 17,466 — 
Equity security285 285 285 — — 
Financial Liabilities:
Non-maturity deposits$4,802,763 $4,802,763 $4,802,763 $— $— 
Certificates of deposit 981,650 989,539 — 989,539 — 
June 30, 2025
Carrying
Value		Fair
Value		Fair Value Measurements Using:
Level 1Level 2Level 3
(Dollars in thousands)
Borrowings263,200 263,189 — 263,189 — 
Junior subordinated debentures22,204 20,540 — — 20,540 
Derivative liabilities - interest rate swaps17,466 17,466 — 17,466 — 
December 31, 2024
Carrying
Value		Fair
Value		Fair Value Measurements Using:
Level 1Level 2Level 3
(Dollars in thousands)
Financial Assets:
Cash and cash equivalents$117,100 $117,100 $117,100 $— $— 
Investment securities available for sale764,394 764,394 — 764,394 — 
Investment securities held to maturity703,285 623,452 — 623,452 — 
Loans receivable, net4,749,655 4,694,516 — — 4,694,516 
Derivative assets - interest rate swaps23,867 23,867 — 23,867 — 
Equity security297 297 297 — — 
Financial Liabilities:
Non-maturity deposits$4,707,362 $4,707,362 $4,707,362 $— $— 
Certificates of deposit 977,251 985,602 — 985,602 — 
Borrowings383,000 383,222 — 383,222 — 
Junior subordinated debentures22,058 20,357 — — 20,357 
Derivative liabilities - interest rate swaps23,867 23,867 — 23,867 —