v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2026
FAIR VALUE MEASUREMENTS  
Schedule of fair value of assets measured at fair value on a recurring basis

Information regarding the fair value of assets measured at fair value on a recurring basis is as follows:

  ​ ​ ​

Instruments

  ​ ​ ​

Markets

  ​ ​ ​

Other

  ​ ​ ​

Significant

Measured

for Identical

Observable

Unobservable

At Fair

Assets

Inputs

Inputs

Value

(Level 1)

(Level 2)

(Level 3)

March 31, 2026

 

  ​

 

  ​

 

  ​

 

  ​

Assets

 

  ​

 

  ​

 

  ​

 

  ​

Securities available for sale

 

  ​

 

  ​

 

 

  ​

U.S. Treasury securities

$

91,460

$

91,460

$

$

Obligations of U.S. Government sponsored agencies

154,268

154,268

Obligations of states and political subdivisions

 

79,716

 

 

79,716

 

Mortgage-backed securities

134,847

134,847

Corporate notes

 

22,944

 

 

22,944

 

Mortgage servicing rights

 

17,484

 

 

17,484

 

December 31, 2025

 

  ​

 

  ​

 

  ​

 

  ​

Assets

 

  ​

 

  ​

 

  ​

 

  ​

Securities available for sale

Obligations of U.S. Government sponsored agencies

$

21,279

$

$

21,279

$

Obligations of states and political subdivisions

 

57,419

 

 

57,419

 

Mortgage-backed securities

70,756

70,756

Corporate notes

 

14,968

 

 

14,968

 

Mortgage servicing rights

 

13,650

 

 

13,650

 

Schedule of fair value of assets measured on a non-recurring basis

Information regarding the fair value of assets measured at fair value on a non-recurring basis is as follows:

  ​ ​ ​

  ​ ​ ​

Quoted Prices

  ​ ​ ​

  ​ ​ ​

In Active

Significant

Assets

Markets

Other

Significant

Measured

for Identical

Observable

Unobservable

At Fair

Assets

Inputs

Inputs

Value

(Level 1)

(Level 2)

(Level 3)

March 31, 2026

 

  ​

 

  ​

 

  ​

 

  ​

OREO

$

3,190

$

$

$

3,190

Loans individually evaluated, net of reserve

18,308

18,308

$

21,498

$

$

$

21,498

December 31, 2025

 

  ​

 

  ​

 

  ​

 

  ​

Loans individually evaluated, net of reserve

$

1,743

$

$

$

1,743

Schedule of fair value measurement on inputs and valuation techniques

The following table shows significant unobservable inputs used in the fair value measurement of Level 3 assets:

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Weighted

 

Unobservable

Range of

Average

 

Valuation Technique

Inputs

Discounts

 

Discount

As of March 31, 2026

 

  ​

 

  ​

 

  ​

 

  ​

OREO

 

Third party appraisals, sales contracts or brokered price options

 

Collateral discounts and estimated costs to sell

 

0

%  

0

%

Loans individually evaluated

 

Third party appraisals and discounted cash flows

 

Collateral discounts and discount rates

 

0% - 99

%  

21

%

As of December 31, 2025

 

  ​

 

  ​

 

  ​

 

  ​

Loans individually evaluated

 

Third party appraisals and discounted cash flows

 

Collateral discounts and discount rates

 

0% - 99

%  

33

%

Schedule of carrying value and estimated fair value of financial instruments

The carrying value and estimated fair value of financial instruments not measured and reported at fair value on a recurring or non-recurring basis at March 31, 2026 and December 31, 2025 are as follows:

Carrying

March 31, 2026

  ​ ​ ​

amount

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

Financial assets:

Cash and cash equivalents

$

398,638

$

398,638

$

$

$

398,638

Securities held to maturity

 

117,929

 

113,290

 

4,300

 

 

117,590

Loans held for sale

 

9,751

 

 

9,751

 

 

9,751

Loans, net

 

4,458,559

 

 

 

4,336,573

 

4,336,573

Other investments

 

30,674

 

 

 

30,674

 

30,674

Financial liabilities:

 

 

 

Deposits

$

5,086,816

$

$

$

4,632,373

$

4,632,373

Notes payable

99,992

99,992

99,992

Subordinated notes

 

16,603

16,603

16,603

Junior subordinated debentures

8,250

8,250

8,250

  ​ ​ ​

Carrying

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

December 31, 2025

amount

Level 1

Level 2

Level 3

Total

Financial assets:

Cash and cash equivalents

$

243,207

$

243,207

$

$

$

243,207

Securities held to maturity

 

103,726

 

102,751

 

2,395

 

 

105,146

Loans held for sale

 

6,243

 

 

6,243

 

 

6,243

Loans, net

 

3,560,277

 

 

 

3,447,489

 

3,447,489

Other investments

 

23,613

 

 

 

23,613

 

23,613

Financial liabilities:

 

 

 

Deposits

$

3,695,787

$

$

$

3,466,151

$

3,466,151

Notes payable

 

109,966

109,966

109,966

Subordinated notes

 

12,000

12,000

12,000