| Schedule of Assets Measured at Fair Value on Recurring Basis |
The following tables summarize, at the dates indicated, assets measured at fair value on a recurring basis, including financial assets for which the Company has elected the fair value option: Assets Measured on a Recurring Basis
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|
Fair Value Measurements Using |
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|
Quoted |
|
|
|
|
|
|
|
|
|
|
|
|
Prices in |
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|
|
|
|
|
|
|
|
|
|
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Active |
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|
Significant |
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|
|
|
|
|
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|
Markets For |
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Other |
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Significant |
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|
|
|
|
|
Identical |
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Observable |
|
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Unobservable |
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|
|
June 30, |
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Assets |
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|
Inputs |
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|
Inputs |
|
(In thousands) |
|
2026 |
|
|
(Level 1) |
|
|
(Level 2) |
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|
(Level 3) |
|
Assets: |
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|
|
|
|
|
|
|
|
|
|
|
Available for sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. treasuries |
|
$ |
9,950 |
|
|
$ |
— |
|
|
$ |
9,950 |
|
|
$ |
— |
|
U.S. government-sponsored agencies |
|
|
186,318 |
|
|
|
— |
|
|
|
186,318 |
|
|
|
— |
|
Mortgage-backed securities-residential |
|
|
527,446 |
|
|
|
— |
|
|
|
527,446 |
|
|
|
— |
|
SBA pool securities |
|
|
15,653 |
|
|
|
— |
|
|
|
15,653 |
|
|
|
— |
|
Corporate bond |
|
|
13,073 |
|
|
|
— |
|
|
|
13,073 |
|
|
|
— |
|
CRA investment fund |
|
|
13,320 |
|
|
|
13,320 |
|
|
|
— |
|
|
|
— |
|
Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow hedges |
|
|
3,504 |
|
|
|
— |
|
|
|
3,504 |
|
|
|
— |
|
Loan level swaps |
|
|
9,208 |
|
|
|
— |
|
|
|
9,208 |
|
|
|
— |
|
Total |
|
$ |
778,472 |
|
|
$ |
13,320 |
|
|
$ |
765,152 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
Loan level swaps |
|
|
9,208 |
|
|
|
— |
|
|
|
9,208 |
|
|
|
— |
|
Total |
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$ |
9,208 |
|
|
$ |
— |
|
|
$ |
9,208 |
|
|
$ |
— |
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Assets Measured on a Recurring Basis
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Fair Value Measurements Using |
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|
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Quoted |
|
|
|
|
|
|
|
|
|
|
|
|
Prices in |
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|
|
|
|
|
|
|
|
|
|
Active |
|
|
Significant |
|
|
|
|
|
|
|
|
|
Markets For |
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|
Other |
|
|
Significant |
|
|
|
|
|
|
Identical |
|
|
Observable |
|
|
Unobservable |
|
|
|
December 31, |
|
|
Assets |
|
|
Inputs |
|
|
Inputs |
|
(In thousands) |
|
2025 |
|
|
(Level 1) |
|
|
(Level 2) |
|
|
(Level 3) |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Securities available for sale: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. government-sponsored agencies |
|
$ |
211,223 |
|
|
$ |
— |
|
|
$ |
211,223 |
|
|
$ |
— |
|
Mortgage-backed securities-residential |
|
|
530,365 |
|
|
|
— |
|
|
|
530,365 |
|
|
|
— |
|
SBA pool securities |
|
|
17,212 |
|
|
|
— |
|
|
|
17,212 |
|
|
|
— |
|
Corporate bond |
|
|
15,403 |
|
|
|
— |
|
|
|
15,403 |
|
|
|
— |
|
CRA investment fund |
|
|
13,459 |
|
|
|
13,459 |
|
|
|
— |
|
|
|
— |
|
Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow hedges |
|
|
2,441 |
|
|
|
— |
|
|
|
2,441 |
|
|
|
— |
|
Loan level swaps |
|
|
8,376 |
|
|
|
— |
|
|
|
8,376 |
|
|
|
— |
|
Total |
|
$ |
798,479 |
|
|
$ |
13,459 |
|
|
$ |
785,020 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow hedges |
|
$ |
12 |
|
|
$ |
— |
|
|
$ |
12 |
|
|
$ |
— |
|
Loan level swaps |
|
|
8,376 |
|
|
|
— |
|
|
|
8,376 |
|
|
|
— |
|
Total |
|
$ |
8,388 |
|
|
$ |
— |
|
|
$ |
8,388 |
|
|
$ |
— |
|
|
| Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments |
The carrying amounts and estimated fair values of financial instruments at June 30, 2026 are as follows:
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Fair Value Measurements at June 30, 2026 using |
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|
Carrying |
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|
|
|
|
|
|
|
|
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|
|
|
(In thousands) |
|
Amount |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Financial assets |
|
|
|
|
|
|
|
|
|
|
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|
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|
Cash and cash equivalents |
|
$ |
253,894 |
|
|
$ |
253,894 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
253,894 |
|
Securities available for sale |
|
|
752,440 |
|
|
|
— |
|
|
|
752,440 |
|
|
|
— |
|
|
|
752,440 |
|
Securities held to maturity |
|
|
78,560 |
|
|
|
— |
|
|
|
69,880 |
|
|
|
— |
|
|
|
69,880 |
|
CRA investment fund |
|
|
13,320 |
|
|
|
13,320 |
|
|
|
— |
|
|
|
— |
|
|
|
13,320 |
|
FHLB and FRB stock |
|
|
12,931 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
N/A |
|
Loans held for sale, at fair value |
|
|
1,202 |
|
|
|
— |
|
|
|
1,202 |
|
|
|
— |
|
|
|
1,202 |
|
Loans held for sale, at lower of cost or fair value |
|
|
2,176 |
|
|
|
— |
|
|
|
2,406 |
|
|
|
— |
|
|
|
2,406 |
|
Loans, net of allowance for credit losses |
|
|
6,606,084 |
|
|
|
— |
|
|
|
— |
|
|
|
6,509,173 |
|
|
|
6,509,173 |
|
Accrued interest receivable |
|
|
34,060 |
|
|
|
— |
|
|
|
3,390 |
|
|
|
30,670 |
|
|
|
34,060 |
|
Accrued interest receivable loan level swaps (A) |
|
|
374 |
|
|
|
— |
|
|
|
374 |
|
|
|
— |
|
|
|
374 |
|
Cash flow hedges |
|
|
3,504 |
|
|
|
— |
|
|
|
3,504 |
|
|
|
— |
|
|
|
3,504 |
|
Loan level swaps |
|
|
8,834 |
|
|
|
— |
|
|
|
8,834 |
|
|
|
— |
|
|
|
8,834 |
|
Financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
$ |
7,057,599 |
|
|
$ |
6,681,966 |
|
|
$ |
373,267 |
|
|
$ |
— |
|
|
$ |
7,055,233 |
|
Short-term borrowings |
|
|
74,854 |
|
|
|
— |
|
|
|
74,854 |
|
|
|
— |
|
|
|
74,854 |
|
Accrued interest payable |
|
|
5,252 |
|
|
|
4,643 |
|
|
|
609 |
|
|
|
— |
|
|
|
5,252 |
|
Accrued interest payable loan level swaps (B) |
|
|
374 |
|
|
|
— |
|
|
|
374 |
|
|
|
— |
|
|
|
374 |
|
Loan level swap |
|
|
8,834 |
|
|
|
— |
|
|
|
8,834 |
|
|
|
— |
|
|
|
8,834 |
|
(A)Included in other assets in the Consolidated Statements of Condition. (B)Included in accrued expenses and other liabilities in the Consolidated Statements of Condition. The carrying amounts and estimated fair values of financial instruments at December 31, 2025 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Measurements at December 31, 2025 |
|
|
|
Carrying |
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Amount |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
187,820 |
|
|
$ |
187,820 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
187,820 |
|
Securities available for sale |
|
|
774,203 |
|
|
|
— |
|
|
|
774,203 |
|
|
|
— |
|
|
|
774,203 |
|
Securities held to maturity |
|
|
95,862 |
|
|
|
— |
|
|
|
87,491 |
|
|
|
— |
|
|
|
87,491 |
|
CRA investment fund |
|
|
13,459 |
|
|
|
13,459 |
|
|
|
— |
|
|
|
— |
|
|
|
13,459 |
|
FHLB and FRB stock |
|
|
14,605 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
N/A |
|
Loans held for sale, at fair value |
|
|
450 |
|
|
|
— |
|
|
|
450 |
|
|
|
— |
|
|
|
450 |
|
Loans held for sale, at lower of cost or fair value |
|
|
4,437 |
|
|
|
— |
|
|
|
4,819 |
|
|
|
— |
|
|
|
4,819 |
|
Loans, net of allowance for credit losses |
|
|
6,182,697 |
|
|
|
— |
|
|
|
— |
|
|
|
6,172,779 |
|
|
|
6,172,779 |
|
Accrued interest receivable |
|
|
31,971 |
|
|
|
— |
|
|
|
3,441 |
|
|
|
28,530 |
|
|
|
31,971 |
|
Accrued interest receivable loan level swaps (A) |
|
|
541 |
|
|
|
— |
|
|
|
541 |
|
|
|
— |
|
|
|
541 |
|
Cash flow hedges |
|
|
2,441 |
|
|
|
— |
|
|
|
2,441 |
|
|
|
— |
|
|
|
2,441 |
|
Loan level swaps |
|
|
7,835 |
|
|
|
— |
|
|
|
7,835 |
|
|
|
— |
|
|
|
7,835 |
|
Financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
$ |
6,588,979 |
|
|
$ |
6,180,360 |
|
|
$ |
406,932 |
|
|
$ |
— |
|
|
$ |
6,587,292 |
|
Short-term borrowings |
|
|
73,267 |
|
|
|
— |
|
|
|
73,267 |
|
|
|
— |
|
|
|
73,267 |
|
Subordinated debt |
|
|
99,030 |
|
|
|
— |
|
|
|
— |
|
|
|
97,388 |
|
|
|
97,388 |
|
Accrued interest payable |
|
|
5,788 |
|
|
|
5,025 |
|
|
|
744 |
|
|
|
19 |
|
|
|
5,788 |
|
Accrued interest payable loan level swaps (B) |
|
|
541 |
|
|
|
— |
|
|
|
541 |
|
|
|
— |
|
|
|
541 |
|
Cash flow hedges |
|
|
12 |
|
|
|
— |
|
|
|
12 |
|
|
|
— |
|
|
|
12 |
|
Loan level swaps |
|
|
7,835 |
|
|
|
— |
|
|
|
7,835 |
|
|
|
— |
|
|
|
7,835 |
|
(A)Included in other assets in the Consolidated Statements of Condition. (B)Included in accrued expenses and other liabilities in the Consolidated Statements of Condition.
|