| Carrying value and estimated fair values of entity's financial instruments |
The carrying value and estimated fair values of the Company's financial instruments as of March 31, 2026 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | | Carrying
Amount | | Estimated Fair
Value | | Readily
Available
Market
Prices (1) | | Observable
Market
Prices (2) | | Unobservable
Market
Prices (3) | | | (Amounts In Thousands) | | Financial instrument assets: | | | | | | | | | | | Cash and cash equivalents | $ | 56,079 | | | $ | 56,079 | | | $ | 56,079 | | | $ | — | | | $ | — | | | Investment securities | 958,384 | | | 958,384 | | | 264,428 | | | 693,956 | | | — | | | Loans held for sale | 5,215 | | | 5,215 | | | — | | | 5,215 | | | — | | | Loans, net | | | | | | | | | | | Agricultural | 122,376 | | | 122,613 | | | — | | | — | | | 122,613 | | | Commercial and financial | 283,147 | | | 283,407 | | | — | | | — | | | 283,407 | | | Real estate: | | | | | | | | | | | Construction, 1 to 4 family residential | 100,807 | | | 101,216 | | | — | | | — | | | 101,216 | | | Construction, land development and commercial | 255,521 | | | 258,234 | | | — | | | — | | | 258,234 | | | Mortgage, farmland | 271,555 | | | 266,430 | | | — | | | — | | | 266,430 | | | Mortgage, 1 to 4 family first liens | 1,235,134 | | | 1,191,868 | | | — | | | — | | | 1,191,868 | | | Mortgage, 1 to 4 family junior liens | 134,337 | | | 133,767 | | | — | | | — | | | 133,767 | | | Mortgage, multi-family | 493,034 | | | 480,460 | | | — | | | — | | | 480,460 | | | Mortgage, commercial | 558,021 | | | 550,103 | | | — | | | — | | | 550,103 | | | Loans to individuals | 26,344 | | | 25,654 | | | — | | | — | | | 25,654 | | | Obligations of state and political subdivisions | 41,842 | | | 41,747 | | | — | | | — | | | 41,747 | | | Accrued interest receivable | 25,727 | | | 25,727 | | | — | | | 25,727 | | | — | | | Total financial instrument assets | $ | 4,567,523 | | | $ | 4,500,904 | | | $ | 320,507 | | | $ | 724,898 | | | $ | 3,455,499 | | | Financial instrument liabilities: | | | | | | | | | | | Deposits | | | | | | | | | | | Noninterest-bearing deposits | $ | 615,648 | | | $ | 615,648 | | | $ | — | | | $ | 615,648 | | | $ | — | | | Interest-bearing deposits | 2,983,970 | | | 2,753,204 | | | — | | | 2,753,204 | | | — | | | Other short-term borrowings | 380,187 | | | 379,575 | | | — | | | 379,575 | | | — | | | Federal Home Loan Bank borrowings | 64,083 | | | 64,253 | | | — | | | 64,253 | | | — | | | | | | | | | | | | | Accrued interest payable | 3,250 | | | 3,250 | | | — | | | 3,250 | | | — | | | Total financial instrument liabilities | $ | 4,047,138 | | | $ | 3,815,930 | | | $ | — | | | $ | 3,815,930 | | | $ | — | | | | | | | | | | | | | | Face Amount | | | | | | | | | | Financial instrument with off-balance sheet risk: | | | | | | | | | | | Loan commitments | $ | 665,689 | | | | | | | | | | | Letters of credit | 11,052 | | | | | | | | | | | Total financial instrument liabilities with off-balance-sheet risk | $ | 676,741 | | | | | | | | | |
(1)Considered Level 1 under Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures (“ASC 820”). (2)Considered Level 2 under ASC 820. (3)Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. The carrying value and estimated fair values of the Company's financial instruments as of December 31, 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | Carrying
Amount | | Estimated Fair
Value | | Readily
Available
Market
Prices (1) | | Observable
Market
Prices (2) | | Unobservable
Market
Prices (3) | | | (Amounts In Thousands) | | Financial instrument assets: | | | | | | | | | | | Cash and cash equivalents | $ | 42,114 | | | $ | 42,114 | | | $ | 42,114 | | | $ | — | | | $ | — | | | Investment securities | 955,584 | | | 955,584 | | | 255,527 | | | 700,057 | | | — | | | Loans held for sale | 8,047 | | | 8,047 | | | — | | | 8,047 | | | — | | | Loans | | | | | | | | | | | Agricultural | 118,506 | | | 118,737 | | | — | | | — | | | 118,737 | | | Commercial and financial | 283,728 | | | 284,244 | | | — | | | — | | | 284,244 | | | Real estate: | | | | | | | | | | | Construction, 1 to 4 family residential | 89,190 | | | 89,558 | | | — | | | — | | | 89,558 | | | Construction, land development and commercial | 245,127 | | | 246,410 | | | — | | | — | | | 246,410 | | | Mortgage, farmland | 274,312 | | | 268,568 | | | — | | | — | | | 268,568 | | | Mortgage, 1 to 4 family first liens | 1,241,209 | | | 1,193,847 | | | — | | | — | | | 1,193,847 | | | Mortgage, 1 to 4 family junior liens | 137,678 | | | 136,911 | | | — | | | — | | | 136,911 | | | Mortgage, multi-family | 491,937 | | | 477,170 | | | — | | | — | | | 477,170 | | | Mortgage, commercial | 555,322 | | | 549,177 | | | — | | | — | | | 549,177 | | | Loans to individuals | 27,937 | | | 27,613 | | | — | | | — | | | 27,613 | | | Obligations of state and political subdivisions | 41,873 | | | 41,393 | | | — | | | — | | | 41,393 | | | Accrued interest receivable | 23,404 | | | 23,404 | | | — | | | 23,404 | | | — | | | Total financial instrument assets | $ | 4,535,968 | | | $ | 4,462,777 | | | $ | 297,641 | | | $ | 731,508 | | | $ | 3,433,628 | | | Financial instrument liabilities: | | | | | | | | | | | Deposits | | | | | | | | | | | Noninterest-bearing deposits | $ | 596,230 | | | $ | 596,230 | | | $ | — | | | $ | 596,230 | | | $ | — | | | Interest-bearing deposits | 2,771,605 | | | 2,563,767 | | | — | | | 2,563,767 | | | — | | | Other short-term borrowings | 586,882 | | | 585,948 | | | — | | | 585,948 | | | — | | | Federal Home Loan Bank borrowings | 64,333 | | | 64,754 | | | — | | | 64,754 | | | — | | | | | | | | | | | | | Accrued interest payable | 3,453 | | | 3,453 | | | — | | | 3,453 | | | — | | | Total financial instrument liabilities | $ | 4,022,503 | | | $ | 3,814,152 | | | $ | — | | | $ | 3,814,152 | | | $ | — | | | | | | | | | | | | | | Face Amount | | | | | | | | | | Financial instrument with off-balance sheet risk: | | | | | | | | | | | Loan commitments | $ | 675,284 | | | | | | | | | | | Letters of credit | 11,152 | | | | | | | | | | | Total financial instrument liabilities with off-balance-sheet risk | $ | 686,436 | | | | | | | | | |
(1)Considered Level 1 under Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures (“ASC 820”). (2)Considered Level 2 under ASC 820. (3)Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market.
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| Schedule of assets measured at fair value on a nonrecurring basis |
For assets measured at fair value on a nonrecurring basis that were still held on the balance sheet at March 31, 2026 and December 31, 2025, the following tables provide the level of valuation assumptions used to determine the adjustment and the carrying value of the related individual assets at year end. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | | | | | | Readily
Available
Market
Prices (1) | | Observable
Market
Prices (2) | | Company
Determined
Market
Prices (3) | | Total at
Fair
Value | | | | | | | (Amounts in Thousands) | | | | | | Loans (4) | | | | | | | | | | | | | Agricultural | $ | — | | | $ | — | | | $ | — | | | $ | — | | | | | | | Commercial and financial | — | | | — | | | 138 | | | 138 | | | | | | | Real Estate: | | | | | | | | | | | | | Construction, 1 to 4 family residential | — | | | — | | | — | | | — | | | | | | | Construction, land development and commercial | — | | | — | | | 51 | | | 51 | | | | | | | Mortgage, farmland | — | | | — | | | 596 | | | 596 | | | | | | | Mortgage, 1 to 4 family first liens | — | | | — | | | 1,418 | | | 1,418 | | | | | | | Mortgage, 1 to 4 family junior liens | — | | | — | | | — | | | — | | | | | | | Mortgage, multi-family | — | | | — | | | — | | | — | | | | | | | Mortgage, commercial | — | | | — | | | 419 | | | 419 | | | | | | | Loans to individuals | — | | | — | | | — | | | — | | | | | | | Foreclosed assets (5) | — | | | — | | | — | | | — | | | | | | | Total | $ | — | | | $ | — | | | $ | 2,622 | | | $ | 2,622 | | | | | |
(1)Considered Level 1 under ASC 820. (2)Considered Level 2 under ASC 820. (3)Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. (4)Represents carrying value and related write-downs of loans for which adjustments are based on the value of the collateral. The carrying value of loans fully charged-off is zero. (5)Represents the fair value and related losses of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets. Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis (continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | | | | Readily
Available
Market
Prices (1) | | Observable
Market
Prices (2) | | Company
Determined
Market
Prices (3) | | Total at Fair
Value | | | | | (Amounts in Thousands) | | | | Loans (4) | | | | | | | | | | | Agricultural | $ | — | | | $ | — | | | $ | — | | | $ | — | | | | | Commercial and financial | — | | | — | | | 932 | | | 932 | | | | | Real Estate: | | | | | | | | | | | Construction, 1 to 4 family residential | — | | | — | | | — | | | — | | | | | Construction, land development and commercial | — | | | — | | | 194 | | | 194 | | | | | Mortgage, farmland | — | | | — | | | — | | | — | | | | | Mortgage, 1 to 4 family first liens | — | | | — | | | 2,020 | | | 2,020 | | | | | Mortgage, 1 to 4 family junior liens | — | | | — | | | 9 | | | 9 | | | | | Mortgage, multi-family | — | | | — | | | 136 | | | 136 | | | | | Mortgage, commercial | — | | | — | | | 444 | | | 444 | | | | | Loans to individuals | — | | | — | | | — | | | — | | | | | Foreclosed assets (5) | — | | | — | | | — | | | — | | | | | Total | $ | — | | | $ | — | | | $ | 3,735 | | | $ | 3,735 | | | |
(1)Considered Level 1 under ASC 820. (2)Considered Level 2 under ASC 820. (3)Considered Level 3 under ASC 820 and are based on valuation models that use significant assumptions that are not observable in an active market. (4)Represents carrying value and related write-downs of loans for which adjustments are based on the value of the collateral. The carrying value of loans fully charged-off is zero. (5)Represents the fair value and related losses of foreclosed real estate and other collateral owned that were measured at fair value subsequent to their initial classification as foreclosed assets.
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