Fair Value (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of assets and liabilities measured at fair value


		March 31, 2026
		Fair Value Measurements Using
		Significant Unobservable Inputs (Level 3)
(Dollar amounts in thousands)		Level 1			Level 2			Level 3			Total
U.S. Government agencies		$	—		$	89,790		$	—		$	89,790
Mortgage Backed Securities-residential			—			520,937			—			520,937
Mortgage Backed Securities-commercial			—			12,240			—			12,240
Collateralized mortgage obligations			—			157,493			—			157,493
State and municipal			—			368,819			—			368,819
Municipal taxable			—			18,599			—			18,599
Collateralized debt obligations			—			248			2,642			2,890
TOTAL		$	—		$	1,168,126		$	2,642		$	1,170,768
Derivative Assets						2,489
Derivative Liabilities						(2,489)


		December 31, 2025
		Fair Value Measurements Using
		Significant Unobservable Inputs (Level 3)
(Dollar amounts in thousands)		Level 1			Level 2			Level 3			Total
U.S. Government agencies		$	—		$	84,310		$	—		$	84,310
Mortgage Backed Securities-residential			—			515,419			—			515,419
Mortgage Backed Securities-commercial			—			12,386			—			12,386
Collateralized mortgage obligations			—			158,098			—			158,098
State and municipal			—			357,718			—			357,718
Municipal taxable			—			18,745			—			18,745
Collateralized debt obligations			—			—			2,850			2,850
TOTAL		$	—		$	1,146,676		$	2,850		$	1,149,526
Derivative Assets						2,709
Derivative Liabilities						(2,709)

Schedule of fair value measurements using significant unobservable inputs


		Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
		Three Months Ended
		March 31, 2026
		State and
		municipal			Collateralized
(Dollar amounts in thousands)		obligations			debt obligations			Total
Beginning balance, January 1		$	—		$	2,850		$	2,850
Total realized/unrealized gains or losses
Included in earnings			—			—			—
Included in other comprehensive income			—			(208)			(208)
Transfers			—			—			—
Settlements			—			—			—
Ending balance, March 31		$	—		$	2,642		$	2,642


		Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
		Year Ended
		December 31, 2025
		State and
		municipal			Collateralized
(Dollar amounts in thousands)		obligations			debt obligations			Total
Beginning balance, January 1		$	805		$	2,896		$	3,701
Total realized/unrealized gains or losses
Included in earnings			—			—			—
Included in other comprehensive income			—			(46)			(46)
Purchases			—			—			—
Settlements			(805)			—			(805)
Ending balance, December 31		$	—		$	2,850		$	2,850

Schedule of quantitative information about recurring and non-recurring Level 3

The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at March 31, 2026.


(Dollar amounts in thousands)		Fair Value			Valuation Technique(s)		Unobservable Input(s)		Range
Collateralized debt obligations		$	2,642		Discounted cash flow		Discount rate		5.65	%
Collateral dependent loans		$	11,033		Discounted cash flow		Discount rate for age of appraisal and market conditions		0.00%-100.00	%

The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31, 2025.


(Dollar amounts in thousands)		Fair Value			Valuation Technique(s)		Unobservable Input(s)		Range
Collateralized debt obligations		$	2,850		Discounted cash flow		Discount rate		5.96	%
Collateral dependent loans			7,328		Discounted cash flow		Discount rate for age of appraisal and market conditions		10.00%-100.00	%

Schedule of carrying amount and estimated fair value of financial instruments


		March 31, 2026
		Carrying			Fair Value
(Dollar amounts in thousands)		Value			Level 1			Level 2			Level 3			Total
Cash and due from banks		$	96,887		$	32,253		$	64,634		$	—		$	96,887
Federal funds sold			—			—			—			—			—
Securities available-for-sale			1,170,768			—			1,168,126			2,642			1,170,768
Restricted stock			18,553			n/a			n/a			n/a			n/a
Loans, net			4,371,583			—			—			4,327,017			4,327,017
Accrued interest receivable			27,881			—			6,926			20,955			27,881
Deposits			(4,842,386)			—			(4,838,894)			—			(4,838,894)
Short-term borrowings			(349,781)			—			(349,781)			—			(349,781)
Other borrowings			(208,756)			—			(208,756)			—			(208,756)
Accrued interest payable			(3,534)			—			(3,534)			—			(3,534)


		December 31, 2025
		Carrying			Fair Value
(Dollar amounts in thousands)		Value			Level 1			Level 2			Level 3			Total
Cash and due from banks		$	130,369		$	38,587		$	91,782		$	—		$	130,369
Federal funds sold			475			—			475			—			475
Securities available-for-sale			1,149,526			—			1,146,676			2,850			1,149,526
Restricted stock			18,536			n/a			n/a			n/a			n/a
Loans, net			4,007,308			—			—			3,949,043			3,949,043
Accrued interest receivable			27,762			—			6,482			21,280			27,762
Deposits			(4,551,111)			—			(4,554,207)			—			(4,554,207)
Short-term borrowings			(292,468)			—			(292,468)			—			(292,468)
Other borrowings			(188,208)			—			(188,208)			—			(188,208)
Accrued interest payable			(3,084)			—			(3,084)			—			(3,084)

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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