v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets Measured on a Recurring Basis
The following tables present the Company’s financial assets and liabilities that are measured at fair value on a recurring basis by fair value hierarchy level at the dates presented:
June 30, 2026
(Dollars in Thousands)Carrying ValueQuoted Prices In Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Assets
Securities Available-for-Sale:
U.S. Government Agency Securities$16,153 $— $16,153 $— 
Residential Mortgage-Backed Securities61,450 — 61,450 — 
Commercial Mortgage-Backed Securities20,910 — 20,910 — 
Other Commercial Mortgage-Backed Securities21,261 — 21,261 — 
Asset Backed Securities 105,594 — 105,594 — 
Collateralized Mortgage Obligations192,539 — 192,539 — 
States and Political Subdivisions166,313 — 166,313 — 
Corporate Notes56,082 — 49,797 6,285 
Total Securities Available-for-Sale640,302 — 634,017 6,285 
Equity Securities12,676 12,676 — — 
Derivatives10,938 — 10,938 — 
Total$663,916 $12,676 $644,955 $6,285 
Liabilities
Derivatives$11,392 $— $11,392 $— 
Total$11,392 $— $11,392 $— 
December 31, 2025
(Dollars in Thousands)Carrying ValueQuoted Prices In Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Assets
Securities Available-for-Sale:
U.S. Government Agency Securities$19,375 $— $19,375 $— 
Residential Mortgage-Backed Securities76,773 — 76,773 — 
Commercial Mortgage-Backed Securities25,122 — 25,122 — 
Other Commercial Mortgage-Backed Securities24,254 — 24,254 — 
Asset Backed Securities94,797 — 94,797 — 
Collateralized Mortgage Obligations161,820 — 161,820 — 
States and Political Subdivisions234,224 — 234,224 — 
Corporate Notes55,247 — 51,967 3,280 
Total Securities Available-for-Sale691,612 — 688,332 3,280 
Equity Securities10,291 10,291 — — 
Derivatives10,182 — 10,182 — 
Total$712,085 $10,291 $698,514 $3,280 
Liabilities
Derivatives$10,089 $— $10,089 $— 
Total$10,089 $— $10,089 $— 
Schedule of Financial Liabilities Measured on a Recurring Basis
The following tables present the Company’s financial assets and liabilities that are measured at fair value on a recurring basis by fair value hierarchy level at the dates presented:
June 30, 2026
(Dollars in Thousands)Carrying ValueQuoted Prices In Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Assets
Securities Available-for-Sale:
U.S. Government Agency Securities$16,153 $— $16,153 $— 
Residential Mortgage-Backed Securities61,450 — 61,450 — 
Commercial Mortgage-Backed Securities20,910 — 20,910 — 
Other Commercial Mortgage-Backed Securities21,261 — 21,261 — 
Asset Backed Securities 105,594 — 105,594 — 
Collateralized Mortgage Obligations192,539 — 192,539 — 
States and Political Subdivisions166,313 — 166,313 — 
Corporate Notes56,082 — 49,797 6,285 
Total Securities Available-for-Sale640,302 — 634,017 6,285 
Equity Securities12,676 12,676 — — 
Derivatives10,938 — 10,938 — 
Total$663,916 $12,676 $644,955 $6,285 
Liabilities
Derivatives$11,392 $— $11,392 $— 
Total$11,392 $— $11,392 $— 
December 31, 2025
(Dollars in Thousands)Carrying ValueQuoted Prices In Active Markets for Identical Assets (Level 1)Significant Other Observable Inputs (Level 2)Significant Unobservable Inputs (Level 3)
Assets
Securities Available-for-Sale:
U.S. Government Agency Securities$19,375 $— $19,375 $— 
Residential Mortgage-Backed Securities76,773 — 76,773 — 
Commercial Mortgage-Backed Securities25,122 — 25,122 — 
Other Commercial Mortgage-Backed Securities24,254 — 24,254 — 
Asset Backed Securities94,797 — 94,797 — 
Collateralized Mortgage Obligations161,820 — 161,820 — 
States and Political Subdivisions234,224 — 234,224 — 
Corporate Notes55,247 — 51,967 3,280 
Total Securities Available-for-Sale691,612 — 688,332 3,280 
Equity Securities10,291 10,291 — — 
Derivatives10,182 — 10,182 — 
Total$712,085 $10,291 $698,514 $3,280 
Liabilities
Derivatives$10,089 $— $10,089 $— 
Total$10,089 $— $10,089 $— 
Schedule of Financial Assets Measured on a Nonrecurring Basis
Financial assets measured at fair value on a nonrecurring basis at the dates presented are summarized below:
June 30, 2026
(Dollars in Thousands)Level 1Level 2Level 3Fair Value
OREO$— $— $3,356 $3,356 
Individually Evaluated Loans$— $— $30,779 $30,779 
December 31, 2025
(Dollars in Thousands)Level 1Level 2Level 3Fair Value
OREO$— $— $142 $142 
Individually Evaluated Loans$— $— $22,809 $22,809 
Schedule of Assets Measured at Fair Value on Nonrecurring Basis, Valuation Techniques
The following tables summarize the Company’s assets that were measured at fair value on a nonrecurring basis at the dates presented:
June 30, 2026
(Dollars in Thousands)Fair ValueValuation TechniqueUnobservable InputsWeighted RangeAverage
Assets
Individually Evaluated Loans$30,779 AppraisalsEstimated Selling Costs3.0%—%9.6%6.5 %
Total Individually Evaluated Loans$30,779 
OREO$2,122 AppraisalsEstimated Selling Costs0.0%—%6.0%3.7 %
OREO143 Internal ValuationsEstimated Selling Costs5.0%5.0 %
OREO1,091 Discounted Internal ValuationsManagement's Subject Discount24.0%24.0 %
Total OREO$3,356 
December 31, 2025
(Dollars in Thousands)Fair ValueValuation TechniqueUnobservable InputsWeighted RangeAverage
Assets
Individually Evaluated Loans$22,809  AppraisalsEstimated Selling Costs3.5%—6.0%5.9 %
Total Individually Evaluated Loans$22,809 
OREO142 Discounted Internal ValuationsManagement’s Subject Discount 5.0%5.0 %
Total OREO$142 
Schedule of Financial Instruments, Carrying Values and Estimated Fair Values
The carrying values and estimated fair values of the Company’s financial instruments at June 30, 2026 and December 31, 2025 are presented in the accompanying tables. Fair values are estimated in accordance with the exit price notion under ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities. In accordance with U.S. GAAP, the Company is required to disclose the estimated fair value of financial instruments carried at amortized cost when quoted market prices are not readily available.
Estimated fair values are derived using present value techniques or other valuation methodologies and are significantly affected by the assumptions applied, including discount rates and expected future cash flows. Because these estimates are based on models and assumptions rather than observable market transactions, they may not be realized upon immediate settlement. Accordingly, the aggregate fair values presented do not necessarily represent the underlying value of the Company.
Fair Value Measurements at June 30, 2026
(Dollars in Thousands)Carrying ValueLevel 1Level 2Level 3Total
Financial Assets:
Cash and Cash Equivalents$276,535 $41,101 $235,434 $— $276,535 
Securities Available-for-Sale640,302 — 634,017 6,285 640,302 
Equity Securities12,676 12,676 — — 12,676 
Loans Held-for-Sale467 — — 467 467 
Portfolio Loans, net3,679,424 — — 3,586,854 3,586,854 
Other Restricted Stock, at Cost8,476 — — NANA
Other Assets- Interest Rate Derivatives10,938 — 10,938 — 10,938 
Accrued Interest Receivable16,890 36 3,165 13,689 16,890 
Financial Liabilities:
Deposits$4,197,556 $655,482 $1,695,658 $1,861,684 $4,212,824 
Other Liabilities- Interest Rate Derivatives11,392 — 11,392 — 11,392 
Accrued Interest Payable5,891 — — 5,891 5,891 
Fair Value Measurements at December 31, 2025
(Dollars in Thousands)Carrying ValueLevel 1Level 2Level 3Total
Financial Assets:
Cash and Cash Equivalents$105,163 $36,935 $68,228 $— $105,163 
Securities Available-for-Sale691,612 — 688,332 3,280 691,612 
Equity Securities10,291 10,291 — — 10,291 
Loans Held-for-Sale339 — — 339 339 
Portfolio Loans, net3,808,069 — — 3,711,795 3,711,795 
Other Restricted Stock, at Cost16,830 — — NANA
Other Assets- Interest Rate Derivatives10,182 — 10,182 — 10,182 
Accrued Interest Receivable17,797 — 3,683 14,114 17,797 
Financial Liabilities:
Deposits$4,210,889 $620,473 $1,688,317 $1,917,786 $4,226,576 
Other Liabilities- Interest Rate Derivatives10,089 — 10,089 — 10,089 
FHLB Borrowings178,500 — — 178,552 178,552 
Accrued Interest Payable6,971 — — 6,971 6,971