v3.26.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Carried at Fair Value on a Recurring Basis
The following table details the financial instruments carried at fair value on a recurring basis at March 31, 2026 and December 31, 2025, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value. The Company had no transfers into or out of Levels 1, 2 or 3 during the three months ended March 31, 2026 or for the year ended December 31, 2025.
Fair Value
(In thousands)Level 1Level 2Level 3
March 31, 2026:
Marketable equity securities$2,254 $— $— 
Available for sale investment securities:
U.S. Government and agency obligations74,493 73,926 — 
Corporate bonds— 7,515 — 
Derivative asset— 5,052 — 
Derivative liability— 3,070 — 
December 31, 2025:
Marketable equity securities$2,248 $— $— 
Available for sale investment securities:
U.S. Government and agency obligations74,668 75,256 — 
Corporate bonds— 10,845 — 
Derivative asset— 4,970 — 
Derivative liability— 3,201 — 
Schedule of Financial Instruments Carried at Fair Value on a Nonrecurring Basis
The following table details the financial instruments measured at fair value on a nonrecurring basis at March 31, 2026 and December 31, 2025, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value:
Fair Value
(In thousands)Level 1Level 2Level 3
March 31, 2026:
Individually evaluated loans$— $— $70,141 
Servicing asset, net— — 1,348 
December 31, 2025:
Individually evaluated loans$— $— $78,933 
Servicing asset, net— — 1,035 
Schedule of Quantitative Inputs and Assumptions for Level 3 Financial Instruments Carried at Fair Value on a Nonrecurring Basis
The following table presents information about quantitative inputs and assumptions for Level 3 financial instruments carried at fair value on a nonrecurring basis at March 31, 2026 and December 31, 2025:
Fair ValueValuation MethodologyUnobservable InputRange
(Dollars in thousands)
March 31, 2026:
Individually evaluated loans$39,861 AppraisalsDiscount to appraised value
0.00% - 8.00%
25,169 Appraisals, cash surrender value life insurance, securities, cash held as collateralDiscounts to appraised value and securities value
0.00% - 8.00%
5,111 Discounted cash flowsDiscount rate
3.38% - 10.00%
$70,141 
Servicing asset, net$1,348 Discounted cash flowsDiscount rate
10.00%
Prepayment rate
3.00% - 18.00%
December 31, 2025:
Individually evaluated loans$37,036 AppraisalsDiscount to appraised value
5.00% - 8.00%
38,820 Appraisals, cash surrender value life insurance, securities, cash held as collateralDiscounts to appraised value and securities value
0.00% - 8.00%
3,077 Discounted cash flowsDiscount rate
3.38% - 10.00%
$78,933 
Servicing asset, net$1,035 Discounted cash flowsDiscount rate
10.00%
Prepayment rate
3.00% - 18.00%