| Carrying Amounts and Estimated Fair Value for Financial Instrument Assets and Liabilities |
The estimated fair values and related carrying amounts for assets and liabilities for which fair value is only disclosed are shown below as of the dates indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | | Carrying
Amount | | Fair Value | | Readily
Available
Market
Prices
(Level 1) | | Observable
Market
Prices
(Level 2) | | Company
Determined
Market
Prices
(Level 3) | | March 31, 2026 | | | | | | | | | | | | Financial assets: | | | | | | | | | | | | HTM debt securities | | $ | 473,257 | | | $ | 444,404 | | | $ | — | | | $ | 444,404 | | | $ | — | | Commercial real estate loans(1)(2) | | 2,173,293 | | | 2,122,527 | | | — | | | — | | | 2,122,527 | | Commercial loans(2) | | 408,606 | | | 401,248 | | | — | | | — | | | 401,248 | | Residential real estate loans(2) | | 1,980,314 | | | 1,743,318 | | | — | | | — | | | 1,743,318 | | Home equity loans(2) | | 339,064 | | | 336,547 | | | — | | | — | | | 336,547 | | Consumer loans(2) | | 16,164 | | | 14,573 | | | — | | | — | | | 14,573 | | Bank-owned life insurance(3) | | 112,492 | | | 112,492 | | | — | | | 112,492 | | | — | | | Servicing assets | | 2,719 | | | 4,775 | | | — | | | — | | | 4,775 | | | Financial liabilities: | | | | | | | | | | | | Time deposits | | $ | 652,002 | | | $ | 648,213 | | | $ | — | | | $ | 648,213 | | | $ | — | | | Short-term borrowings | | 513,429 | | | 513,017 | | | — | | | 513,017 | | | — | | | Long-term borrowings | | 1,000 | | | 840 | | | — | | | 840 | | | — | | Junior subordinated debentures | | 61,590 | | | 51,773 | | | — | | | 51,773 | | | — | | | December 31, 2025 | | | | | | | | | | | | Financial assets: | | | | | | | | | | | | HTM debt securities | | $ | 485,292 | | | $ | 457,821 | | | $ | — | | | $ | 457,821 | | | $ | — | | Commercial real estate loans(1)(2) | | 2,162,472 | | | 2,094,447 | | | — | | | — | | | 2,094,447 | | Commercial loans(2) | | 411,722 | | | 402,224 | | | — | | | — | | | 402,224 | | Residential real estate loans(2) | | 2,000,090 | | | 1,790,372 | | | — | | | — | | | 1,790,372 | | Home equity loans(2) | | 328,306 | | | 321,156 | | | — | | | — | | | 321,156 | | Consumer loans(2) | | 17,272 | | | 15,622 | | | — | | | — | | | 15,622 | | Bank-owned life insurance(3) | | 112,119 | | | 112,119 | | | | | 112,119 | | | — | | | Servicing assets | | 2,796 | | | 4,665 | | | — | | | — | | | 4,665 | | | Financial liabilities: | | | | | | | | | | | | Time deposits | | $ | 679,087 | | | $ | 675,713 | | | $ | — | | | $ | 675,713 | | | $ | — | | | Short-term borrowings | | 581,780 | | | 581,378 | | | — | | | 581,378 | | | — | | | Long-term borrowings | | 1,000 | | | 841 | | | — | | | 841 | | | — | | Junior subordinated debentures | | 61,515 | | | 51,401 | | | — | | | 51,401 | | | — | |
(1) Commercial real estate loan includes non-owner-occupied and owner-occupied properties. (2) The presented carrying amount is net of the allocated ACL on loans. (3) Represents a cash surrender life insurance policy recorded at the amount realized upon surrender of the policy, as a result the carrying amount approximates fair value.
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| Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis |
The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, for the dates indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | | Fair
Value | | Readily
Available
Market
Prices
(Level 1) | | Observable
Market
Data
(Level 2) | | Company
Determined
Fair Value
(Level 3) | | March 31, 2026 | | | | | | | | | | Financial assets: | | | | | | | | | | Trading securities | | $ | 4,383 | | | $ | 4,383 | | | $ | — | | | $ | — | | | AFS debt securities: | | | | | | | | | | | | | | | | | | | Obligations of states and political subdivisions | | 5,254 | | | — | | | 5,254 | | | — | | MBS issued or guaranteed by U.S. government-sponsored enterprises | | 666,510 | | | — | | | 666,510 | | | — | | CMO issued or guaranteed by U.S. government-sponsored enterprises | | 213,442 | | | — | | | 213,442 | | | — | | Subordinated corporate bonds | | 16,411 | | | — | | | 16,411 | | | — | | | Loans held for sale | | 17,618 | | | — | | | 17,618 | | | — | | | Customer loan swaps | | 8,864 | | | — | | | 8,864 | | | — | | | Interest rate contracts | | 8,336 | | | — | | | 8,336 | | | — | | | | | | | | | | | | Fixed rate mortgage interest rate lock commitments | | 75 | | | — | | | 75 | | | — | | | Forward delivery commitments | | 290 | | | — | | | 290 | | | — | | | Financial liabilities: | | | | | | | | | | Deferred compensation | | $ | 4,383 | | | $ | 4,383 | | | $ | — | | | $ | — | | | | | | | | | | | | Customer loan swaps | | 8,898 | | | — | | | 8,898 | | | — | | | | | | | | | | | | Interest rate contracts | | 1,004 | | | — | | | 1,004 | | | — | | | Fixed rate mortgage interest rate lock commitments | | 106 | | | — | | | 106 | | | — | | | Forward delivery commitments | | 29 | | | — | | | 29 | | | — | | | December 31, 2025 | | | | | | | | | | Financial assets: | | | | | | | | | | Trading securities | | $ | 5,747 | | | $ | 5,747 | | | $ | — | | | $ | — | | | AFS debt securities: | | | | | | | | | | | | | | | | | | | Obligations of states and political subdivisions | | 5,275 | | | — | | | 5,275 | | | — | | MBS issued or guaranteed by U.S. government-sponsored enterprises | | 684,389 | | | — | | | 684,389 | | | — | | CMO issued or guaranteed by U.S. government-sponsored enterprises | | 224,373 | | | — | | | 224,373 | | | — | | Subordinated corporate bonds | | 16,364 | | | — | | | 16,364 | | | — | | | Loans held for sale | | 15,040 | | | — | | | 15,040 | | | — | | | Customer loan swaps | | 9,087 | | | — | | | 9,087 | | | — | | | Interest rate contracts | | 8,381 | | | — | | | 8,381 | | | — | | | | | | | | | | | | | | | | | | | | | Fixed rate mortgage interest rate lock commitments | | 100 | | | — | | | 100 | | | — | | | Forward delivery commitments | | 134 | | | — | | | 134 | | | — | | | Financial liabilities: | | | | | | | | | | Deferred compensation | | $ | 5,747 | | | $ | 5,747 | | | $ | — | | | $ | — | | | Customer loan swaps | | 9,127 | | | — | | | 9,127 | | | — | | | Interest rate contracts | | 2,923 | | | — | | | 2,923 | | | — | | | | | | | | | | | | | | | | | | | | | Fixed rate mortgage interest rate lock commitments | | 20 | | | — | | | 20 | | | — | | | Forward delivery commitments | | 44 | | | — | | | 44 | | | — | |
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