| Summary of Financial Assets Measured at Fair Value on Recurring Basis |
The following tables present the balances of financial assets measured at fair value on a recurring basis as of the dates stated.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
(Dollars in thousands) |
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Securities available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage backed securities |
|
$ |
187,102 |
|
|
$ |
— |
|
|
$ |
187,102 |
|
|
$ |
— |
|
U.S. Treasury and agencies |
|
|
72,077 |
|
|
|
— |
|
|
|
72,077 |
|
|
|
— |
|
State and municipals |
|
|
44,194 |
|
|
|
— |
|
|
|
44,194 |
|
|
|
— |
|
Corporate bonds |
|
|
28,541 |
|
|
|
— |
|
|
|
28,541 |
|
|
|
— |
|
Total securities available for sale |
|
$ |
331,914 |
|
|
$ |
— |
|
|
$ |
331,914 |
|
|
$ |
— |
|
Other assets |
|
|
|
|
|
|
|
|
|
|
|
|
Rabbi trust assets |
|
$ |
652 |
|
|
$ |
652 |
|
|
$ |
— |
|
|
$ |
— |
|
Interest rate swap asset |
|
|
335 |
|
|
|
— |
|
|
|
335 |
|
|
|
— |
|
Other liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swap liability |
|
$ |
381 |
|
|
$ |
— |
|
|
$ |
381 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
(Dollars in thousands) |
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Securities available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage backed securities |
|
$ |
185,087 |
|
|
$ |
— |
|
|
$ |
185,087 |
|
|
$ |
— |
|
U.S. Treasury and agencies |
|
|
72,538 |
|
|
|
— |
|
|
|
72,538 |
|
|
|
— |
|
State and municipals |
|
|
44,484 |
|
|
|
— |
|
|
|
44,484 |
|
|
|
— |
|
Corporate bonds |
|
|
30,819 |
|
|
|
— |
|
|
|
30,819 |
|
|
|
— |
|
Total securities available for sale |
|
$ |
332,928 |
|
|
$ |
— |
|
|
$ |
332,928 |
|
|
$ |
— |
|
Other assets |
|
|
|
|
|
|
|
|
|
|
|
|
Rabbi trust assets |
|
$ |
682 |
|
|
$ |
682 |
|
|
$ |
— |
|
|
$ |
— |
|
Interest rate swap asset |
|
|
613 |
|
|
|
— |
|
|
|
613 |
|
|
|
— |
|
Other liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate swap liability |
|
$ |
654 |
|
|
$ |
— |
|
|
$ |
654 |
|
|
$ |
— |
|
|
| Summary of Assets Measured at Fair Value |
The following tables summarize assets that were measured at fair value on a nonrecurring basis as of the dates stated.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
(Dollars in thousands) |
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Other equity investments |
|
$ |
4,952 |
|
|
$ |
— |
|
|
$ |
1,946 |
|
|
$ |
3,006 |
|
Collateral-dependent loans |
|
|
1,919 |
|
|
|
— |
|
|
|
— |
|
|
|
1,919 |
|
OREO |
|
|
1,560 |
|
|
|
— |
|
|
|
— |
|
|
|
1,560 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
(Dollars in thousands) |
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Other equity investments |
|
$ |
4,910 |
|
|
$ |
— |
|
|
$ |
1,904 |
|
|
$ |
3,006 |
|
Collateral-dependent loans |
|
|
1,919 |
|
|
|
— |
|
|
|
— |
|
|
|
1,919 |
|
Loans held for sale |
|
|
14,769 |
|
|
|
— |
|
|
|
14,769 |
|
|
|
— |
|
OREO |
|
|
1,683 |
|
|
|
— |
|
|
|
— |
|
|
|
1,683 |
|
|
| Summary of Estimated Fair Values and Related Carrying Amounts and Valuation Level of Financial Instruments |
The following tables present the estimated fair values, related carrying amounts, and valuation level of the financial instruments as of the dates stated.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
|
|
|
|
|
|
|
Fair Value Measurements |
|
(Dollars in thousands) |
|
Carrying Value |
|
|
Fair Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Financial Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due from banks |
|
$ |
146,608 |
|
|
$ |
146,608 |
|
|
$ |
146,608 |
|
|
$ |
— |
|
|
$ |
— |
|
Federal funds sold |
|
|
1,451 |
|
|
|
1,451 |
|
|
|
1,451 |
|
|
|
— |
|
|
|
— |
|
Securities available for sale |
|
|
331,914 |
|
|
|
331,914 |
|
|
|
— |
|
|
|
331,914 |
|
|
|
— |
|
Restricted equity investments |
|
|
18,405 |
|
|
|
18,405 |
|
|
|
— |
|
|
|
18,405 |
|
|
|
— |
|
Other equity investments |
|
|
4,952 |
|
|
|
4,952 |
|
|
|
— |
|
|
|
1,946 |
|
|
|
3,006 |
|
Other investments |
|
|
20,916 |
|
|
|
20,916 |
|
|
|
— |
|
|
|
— |
|
|
|
20,916 |
|
Loans held for investment, net |
|
|
1,814,715 |
|
|
|
1,762,500 |
|
|
|
— |
|
|
|
— |
|
|
|
1,762,500 |
|
Accrued interest receivable |
|
|
11,134 |
|
|
|
11,134 |
|
|
|
— |
|
|
|
11,134 |
|
|
|
— |
|
Financial Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing demand |
|
$ |
392,067 |
|
|
$ |
392,067 |
|
|
$ |
392,067 |
|
|
$ |
— |
|
|
$ |
— |
|
Interest-bearing demand and money market |
|
|
598,599 |
|
|
|
598,599 |
|
|
|
— |
|
|
|
598,599 |
|
|
|
— |
|
Savings |
|
|
102,400 |
|
|
|
102,400 |
|
|
|
— |
|
|
|
102,400 |
|
|
|
— |
|
Time |
|
|
800,008 |
|
|
|
801,177 |
|
|
|
— |
|
|
|
801,177 |
|
|
|
— |
|
FHLB borrowings |
|
|
150,000 |
|
|
|
150,831 |
|
|
|
— |
|
|
|
150,831 |
|
|
|
— |
|
Subordinated notes, net |
|
|
14,702 |
|
|
|
13,903 |
|
|
|
— |
|
|
|
— |
|
|
|
13,903 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
|
|
|
|
|
|
Fair Value Measurements |
|
(Dollars in thousands) |
|
Carrying Value |
|
|
Fair Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Financial Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and due from banks |
|
$ |
115,949 |
|
|
$ |
115,949 |
|
|
$ |
115,949 |
|
|
$ |
— |
|
|
$ |
— |
|
Federal funds sold |
|
|
1,851 |
|
|
|
1,851 |
|
|
|
1,851 |
|
|
|
— |
|
|
|
— |
|
Securities available for sale |
|
|
332,928 |
|
|
|
332,928 |
|
|
|
— |
|
|
|
332,928 |
|
|
|
— |
|
Restricted equity investments |
|
|
19,016 |
|
|
|
19,016 |
|
|
|
— |
|
|
|
19,016 |
|
|
|
— |
|
Other equity investments |
|
|
4,910 |
|
|
|
4,910 |
|
|
|
— |
|
|
|
1,904 |
|
|
|
3,006 |
|
Other investments |
|
|
20,781 |
|
|
|
20,781 |
|
|
|
— |
|
|
|
— |
|
|
|
20,781 |
|
Loans held for sale |
|
|
14,769 |
|
|
|
14,769 |
|
|
|
— |
|
|
|
14,769 |
|
|
|
— |
|
Loans held for investment, net |
|
|
1,846,273 |
|
|
|
1,786,730 |
|
|
|
— |
|
|
|
— |
|
|
|
1,786,730 |
|
Accrued interest receivable |
|
|
10,787 |
|
|
|
10,787 |
|
|
|
— |
|
|
|
10,787 |
|
|
|
— |
|
Financial Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing demand |
|
$ |
398,541 |
|
|
$ |
398,541 |
|
|
$ |
398,541 |
|
|
$ |
— |
|
|
$ |
— |
|
Interest-bearing demand and money market |
|
|
612,648 |
|
|
|
612,648 |
|
|
|
— |
|
|
|
612,648 |
|
|
|
— |
|
Savings |
|
|
100,346 |
|
|
|
100,346 |
|
|
|
— |
|
|
|
100,346 |
|
|
|
— |
|
Time |
|
|
799,627 |
|
|
|
802,308 |
|
|
|
— |
|
|
|
802,308 |
|
|
|
— |
|
FHLB borrowings |
|
|
150,000 |
|
|
|
150,116 |
|
|
|
— |
|
|
|
150,116 |
|
|
|
— |
|
Subordinated notes, net |
|
|
14,716 |
|
|
|
13,905 |
|
|
|
— |
|
|
|
— |
|
|
|
13,905 |
|
|