Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis |
The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands): | | | | | | | | | | | | | | | | | | Quoted Prices in | | Significant | | Significant | | | | | | Active Markets | | Other | | Other | | | | | | for Identical | | Observable | | Unobservable | | | | | | Assets | | Inputs | | Inputs | Description | | Fair Value | | (Level 1) | | (Level 2) | | (Level 3) | June 30, 2025: | | | | | | | | | | | | | Assets: | | | | | | | | | | | | | Securities available-for-sale: | | | | | | | | | | | | | U.S. Treasury | | $ | 77,818 | | $ | — | | $ | 77,818 | | $ | — | U.S. Government-sponsored enterprises (GSEs) | | | 34,668 | | | — | | | 34,668 | | | — | Municipal securities | | | 21,024 | | | — | | | 21,024 | | | — | Other debt securities | | | 38,915 | | | — | | | 38,915 | | | — | Mortgage-backed securities (GSEs) | | | 329,725 | | | — | | | 329,725 | | | — | Total securities available-for-sale | | | 502,150 | | | — | | | 502,150 | | | — | | | | | | | | | | | | | | Derivative financial instruments and interest rate swap agreements | | | 13,528 | | | — | | | 13,528 | | | — | Total assets at fair value | | $ | 515,678 | | $ | — | | $ | 515,678 | | $ | — | | | | | | | | | | | | | | Liabilities: | | | | | | | | | | | | | Derivative financial instruments and interest rate swap agreements | | $ | 13,881 | | $ | — | | $ | 13,881 | | $ | — | | | | | | | | | | | | | | December 31, 2024: | | | | | | | | | | | | | Assets: | | | | | | | | | | | | | Securities available-for-sale: | | | | | | | | | | | | | U.S. Treasury | | $ | 76,226 | | $ | — | | $ | 76,226 | | $ | — | U.S. Government-sponsored enterprises (GSEs) | | | 39,188 | | | — | | | 39,188 | | | — | Municipal securities | | | 17,690 | | | — | | | 17,690 | | | — | Other debt securities | | | 39,435 | | | — | | | 39,435 | | | — | Mortgage-backed securities (GSEs) | | | 309,789 | | | — | | | 309,789 | | | — | Total securities available-for-sale | | | 482,328 | | | — | | | 482,328 | | | — | | | | | | | | | | | | | | Derivative financial instruments and interest rate swap agreements | | | 12,135 | | | — | | | 12,135 | | | — | Total assets at fair value | | $ | 494,463 | | $ | — | | $ | 494,463 | | $ | — | | | | | | | | | | | | | | Liabilities: | | | | | | | | | | | | | Derivative financial instruments and interest rate swap agreements | | $ | 13,198 | | $ | — | | $ | 13,198 | | $ | — |
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Fair Value, by Balance Sheet Grouping |
The carrying amount and estimated fair value of the Company’s financial instruments are as follows (in thousands): | | | | | | | | | | | | | | | | | | Fair Value Measurements Using | | | Carrying | | | | | | | | | | | Estimated | | | Amount | | Level 1 | | Level 2 | | Level 3 | | Fair Value | June 30, 2025: | | | | | | | | | | | | | | | | Assets: | | | | | | | | | | | | | | | | Cash and cash equivalents | | $ | 365,096 | | $ | 365,096 | | $ | — | | $ | — | | $ | 365,096 | Securities available-for-sale | | | 502,150 | | | — | | | 502,150 | | | — | | | 502,150 | Securities held-to-maturity | | | 124,520 | | | — | | | 108,134 | | | — | | | 108,134 | Other investments | | | 14,713 | | | N/A | | | N/A | | | N/A | | | N/A | Loans and leases, net and loans held for sale | | | 4,089,770 | | | — | | | — | | | 4,003,963 | | | 4,003,963 | Derivative financial instruments and interest rate swap agreements | | | 13,528 | | | — | | | 13,528 | | | — | | | 13,528 | | | | | | | | | | | | | | | | | Liabilities: | | | | | | | | | | | | | | | | Noninterest-bearing demand deposits | | | 906,965 | | | — | | | 906,965 | | | — | | | 906,965 | Interest-bearing demand deposits | | | 843,820 | | | — | | | 843,820 | | | — | | | 843,820 | Money market and savings deposits | | | 2,124,623 | | | — | | | 2,124,623 | | | — | | | 2,124,623 | Time deposits | | | 996,712 | | | — | | | 996,945 | | | — | | | 996,945 | Borrowings | | | 6,966 | | | — | | | 6,966 | | | — | | | 6,966 | Subordinated debt | | | 39,726 | | | — | | | — | | | 38,090 | | | 38,090 | Derivative financial instruments and interest rate swap agreements | | | 13,881 | | | — | | | 13,881 | | | — | | | 13,881 | | | | | | | | | | | | | | | | | December 31, 2024: | | | | | | | | | | | | | | | | Assets: | | | | | | | | | | | | | | | | Cash and cash equivalents | | $ | 387,570 | | $ | 387,570 | | $ | — | | $ | — | | $ | 387,570 | Securities available-for-sale | | | 482,328 | | | — | | | 482,328 | | | — | | | 482,328 | Securities held-to-maturity | | | 126,659 | | | — | | | 108,080 | | | | | | 108,080 | Other investments | | | 14,740 | | | N/A | | | N/A | | | N/A | | | N/A | Loans and leases, net and loans held for sale | | | 3,874,913 | | | — | | | — | | | 3,768,452 | | | 3,768,452 | Derivative financial instruments and interest rate swap agreements | | | 12,135 | | | — | | | 12,135 | | | — | | | 12,135 | | | | | | | | | | | | | | | | | Liabilities: | | | | | | | | | | | | | | | | Noninterest-bearing demand deposits | | | 965,552 | | | — | | | 965,552 | | | — | | | 965,552 | Interest-bearing demand deposits | | | 836,731 | | | — | | | 836,731 | | | — | | | 836,731 | Money market and savings deposits | | | 2,039,560 | | | — | | | 2,039,560 | | | — | | | 2,039,560 | Time deposits | | | 844,640 | | | — | | | 844,694 | | | — | | | 844,694 | Borrowings | | | 8,135 | | | — | | | 8,135 | | | — | | | 8,135 | Subordinated debt | | | 39,684 | | | — | | | — | | | 38,043 | | | 38,043 | Derivative financial instruments and interest rate swap agreements | | | 13,198 | | | — | | | 13,198 | | | — | | | 13,198 |
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