Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company's assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025, segregated by level within the fair value hierarchy utilized to measure fair value:


Assets and Liabilities Measured at Fair Value on a Recurring Basis
		(In Thousands)
June 30, 2026		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets - (Securities Available-for-Sale)
U.S. Treasury		$	115,540			$	-			$	-
U.S. Government agencies			14,780				90,921				-
Mortgage-backed securities			-				164,706				-
State and local governments			-				53,864				1,443
Total Securities Available-for-Sale		$	130,320			$	309,491			$	1,443
Interest rate swap liabilities		$	-			$	(414	)		$	-


		(In Thousands)
December 31, 2025		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets - (Securities Available-for-Sale)
U.S. Treasury		$	89,853			$	-			$	-
U.S. Government agencies			30,080				101,881				-
Mortgage-backed securities			-				143,382				-
State and local governments			1,483				53,938				1,455
Total Securities Available-for-Sale		$	121,416			$	299,201			$	1,455
Interest rate swaps liabilities		$	-			$	(1,555	)		$	-

Changes in the Level 3 Fair-Value Category of Unobservable Inputs

The following tables represent the changes in the Level 3 fair-value category of which unobservable inputs are relied upon as of the three and six months ended June 30, 2026 and June 30, 2025.


		(In Thousands)
		Fair Value Measurements Using Significant
		Unobservable Inputs (Level 3)
		State and Local Governments
		Tax-Exempt				Taxable				Total
Balance at April 1, 2026		$	185			$	1,264			$	1,449

Change in Fair Value			-				(6	)			(6	)

Payments, Maturities & Calls			-				-				-

Balance at June 30, 2026		$	185			$	1,258			$	1,443


		(In Thousands)
		Fair Value Measurements Using Significant
		Unobservable Inputs (Level 3)
		State and Local Governments
		Tax-Exempt				Taxable				Total
Balance at January 1, 2026		$	185			$	1,270			$	1,455

Change in Fair Value			-				(12	)			(12	)

Payments, Maturities & Calls			-				-				-

Balance at June 30, 2026		$	185			$	1,258			$	1,443


		(In Thousands)
		Fair Value Measurements Using Significant
		Unobservable Inputs (Level 3)
		State and Local Governments
		Tax-Exempt				Taxable				Total
Balance at April 1, 2025		$	184			$	1,276			$	1,460

Change in Fair Value			-				(6	)			(6	)

Payments, Maturities & Calls			-				-				-

Balance at June 30, 2025		$	184			$	1,270			$	1,454


		(In Thousands)
		Fair Value Measurements Using Significant
		Unobservable Inputs (Level 3)
		State and Local Governments
		Tax-Exempt				Taxable				Total
Balance at January 1, 2025		$	353			$	1,274			$	1,627

Change in Fair Value			1				(4	)			(3	)

Payments, Maturities & Calls			(170	)			-				(170	)

Balance at June 30, 2025		$	184			$	1,270			$	1,454

Assets Measured at Fair Value on Nonrecurring Basis

The following table presents assets measured at fair value on a nonrecurring basis at June 30, 2026 and December 31, 2025:


		(In Thousands)
		Assets Measured at Fair Value on a Nonrecurring Basis at June 30, 2026
		Balance at June 30, 2026				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Collateral dependent loans		$	3,779			$	-			$	-			$	3,779
Loan servicing rights			1,287				-				-				1,287


		(In Thousands)
		Assets Measured at Fair Value on a Nonrecurring Basis at December 31, 2025
		Balance at December 31, 2025				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Collateral dependent loans		$	715			$	-			$	-			$	715
Loan servicing rights			1,556				-				-				1,556

Quantitative Information about Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements

The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements:


		(In Thousands)								Range
		Fair Value at								(Weighted
		June 30, 2026				Valuation Technique		Unobservable Inputs		Average)
State and local government		$	1,443			Discounted Cash Flow		Credit strength of underlying project or entity / discount rate		3.44-3.89% (3.83%)

Collateral dependent loans			3,779			Collateral based measurements		Discount to reflect current market conditions and ultimate collectability		20.00-25.00% (24.76%)

Loan servicing rights			1,287			Discounted Cash Flow		Constant prepayment rate and probability of default / discount rate		27.00-626.84% ( 49.83%)


		(In Thousands)								Range
		Fair Value at								(Weighted
		December 31, 2025				Valuation Technique		Unobservable Inputs		Average)
State and local government		$	1,455			Discounted Cash Flow		Credit strength of underlying project or entity / discount rate		3.26-3.75% (3.68%)

Collateral dependent loans			715			Collateral based measurements		Discount to reflect current market conditions and ultimate collectability		20.00-30.00% (24.68%)

Loan servicing rights			1,556			Discounted Cash Flow		Constant prepayment rate and probability of default / discount rate		22.72-583.71% (36.21%)

Estimated Fair Values and Related Carrying or Notional Amounts

The estimated fair values, and related carrying or notional amounts, for on and off-balance sheet financial instruments not carried at fair value as of June 30, 2026 and December 31, 2025 are reflected below.


		(In Thousands)
		June 30, 2026
		Carrying				Fair
		Amount				Value				Level 1				Level 2				Level 3
Financial Assets:
Cash and cash equivalents		$	156,390			$	156,390			$	156,390			$	-			$	-
Interest-bearing time deposits			518				519				-				519				-
Other securities			10,681				10,681				-				-				10,681
Loans held for sale			2,994				2,994				-				-				2,994
Loans, net			2,677,072				2,574,893				-				-				2,574,893
Interest receivable			14,714				14,714				-				-				14,714

Financial Liabilities:
Noninterest-bearing deposits		$	506,119			$	506,119			$	506,119			$	-			$	-
Interest-bearing deposits			1,670,281				1,669,828				-				-				1,669,828
Time deposits			693,008				690,026				-				-				690,026
Total Deposits			2,869,408				2,865,973				506,119				-				2,359,854

Federal funds purchased and securities sold under agreement to repurchase			14,771				14,771				-				-				14,771
Federal Home Loan Bank advances			168,447				168,303				-				-				168,303
Subordinated notes, net of unamortized issuance costs			34,991				34,449				-				34,449				-
Interest payable			5,074				5,074				-				-				5,074


		(In Thousands)
		December 31, 2025
		Carrying				Fair
		Amount				Value				Level 1				Level 2				Level 3
Financial Assets:
Cash and cash equivalents		$	97,718			$	97,718			$	97,718			$	-			$	-
Interest-bearing time deposits			1,498				1,491				-				1,491				-
Other securities			13,032				13,032				-				-				13,032
Loans held for sale			3,934				3,934				-				-				3,934
Loans, net			2,685,990				2,653,152				-				-				2,653,152
Interest receivable			13,621				13,621				-				-				13,621

Financial Liabilities:
Noninterest-bearing deposits		$	527,327			$	527,327			$	527,327			$	-			$	-
Interest-bearing deposits			1,605,623				1,605,435				-				-				1,605,435
Time deposits			597,785				596,189				-				-				596,189
Total Deposits			2,730,735				2,728,951				527,327				-				2,201,624

Federal funds purchased and securities sold under agreement to repurchase			37,718				37,718				-				-				37,718
Federal Home Loan Bank advances			227,377				228,232				-				-				228,232
Subordinated notes, net of unamortized issuance costs			34,933				33,834				-				33,834				-
Interest payable			5,950				5,950				-				-				5,950

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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