v3.26.1
Fair Value of Assets and Liabilities (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value of Assets and Liabilities [Abstract]  
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 are as follows (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)

December 31, 2025:

 

  ​

Assets:

 

  ​

Securities available-for-sale:

 

  ​

U.S. Treasury

$

29,629

$

$

29,629

$

U.S. Government-sponsored enterprises (GSEs)

19,064

19,064

Municipal securities

 

35,665

 

 

35,665

 

Other debt securities

 

21,000

 

 

21,000

 

Mortgage-backed securities (GSEs)

 

434,524

 

 

434,524

 

Total securities available-for-sale

539,882

539,882

Derivative financial instruments and interest rate swap agreements

13,191

13,191

Total assets at fair value

$

553,073

$

$

553,073

$

Liabilities:

 

  ​

Derivative financial instruments and interest rate swap agreements

$

13,524

$

$

13,524

$

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

$

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

  ​ ​ ​

  ​ ​ ​

Quoted Prices in

  ​ ​ ​

Significant

  ​ ​ ​

Significant

Active Markets

Other

Other

for Identical

Observable

Unobservable

Assets

Inputs

Inputs

Fair Value

(Level 1)

(Level 2)

(Level 3)

December 31, 2025:

 

  ​

 

  ​

 

  ​

 

  ​

Collateral-dependent loans

$

3,630

$

$

$

3,630

December 31, 2024:

 

  ​

 

  ​

 

  ​

 

  ​

Collateral-dependent loans

$

1,813

$

$

$

1,813

Fair Value Measurement Inputs and Valuation Techniques

For Level 3 assets measured at fair value on a non-recurring basis, the significant unobservable inputs used in the fair value measurements are presented below (dollars in thousands):

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Weighted

Valuation

Significant Other

Average of

Fair Value

Technique

Unobservable Input

Input

December 31, 2025:

Collateral-dependent loans

$

3,630

 

Appraisal

 

Appraisal discounts

 

56

%

December 31, 2024:

Collateral-dependent loans

$

1,813

 

Appraisal

 

Appraisal discounts

 

68

%

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

December 31, 2025:

Assets:

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Cash and cash equivalents

$

464,417

 

$

464,417

 

$

 

$

$

464,417

Securities available-for-sale

 

539,882

 

 

539,882

 

 

539,882

Securities held-to-maturity

122,121

109,416

109,416

Other investments

 

16,441

 

N/A

 

N/A

 

N/A

 

N/A

Loans and leases, net and loans held for sale

 

4,333,541

 

 

 

4,281,699

 

4,281,699

Derivative financial instruments and interest rate swap agreements

13,191

13,191

13,191

Liabilities:

 

 

  ​

 

  ​

 

  ​

 

  ​

Noninterest-bearing demand deposits

 

1,062,918

 

 

1,062,918

 

 

1,062,918

Interest-bearing demand deposits

 

945,716

 

 

945,716

 

 

945,716

Money market and savings deposits

 

2,273,612

 

 

2,273,612

 

 

2,273,612

Time deposits

 

870,543

 

 

872,143

 

 

872,143

Borrowings

3,009

3,009

3,009

Subordinated debt

 

98,662

 

 

 

100,660

 

100,660

Derivative financial instruments and interest rate swap agreements

 

13,524

 

 

13,524

 

 

13,524

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