v3.26.1
FAIR VALUE (Tables)
6 Months Ended
Jun. 30, 2026
FAIR VALUE  
Schedule of fair values of assets and liabilities measured on recurring and non-recurring basis

  ​ ​ ​

June 30, 2026

Total Gains

(Dollars in thousands)

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​ ​

(Losses)

Assets

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Recurring fair value measurements:

 

  ​

 

 

  ​

Securities available for sale:

 

  ​

 

 

  ​

Obligations of U.S. Government entities and agencies

$

2,502

$

$

$

2,502

 

  ​

States and political subdivisions

 

6,642

 

6,642

 

  ​

Mortgage-backed GSE residential

 

17,039

 

17,039

 

  ​

Total securities available for sale

 

26,183

 

23,681

 

2,502

 

  ​

Equity securities

18,481

18,481

 

SBA and USDA servicing asset

 

11,180

 

11,180

 

  ​

Interest rate derivatives

4,791

4,791

$

60,635

$

18,481

$

28,472

$

13,682

Nonrecurring fair value measurements:

 

  ​

 

  ​

 

 

  ​

Collateral-dependent loans

$

7,601

$

$

$

7,601

$

79

Liabilities

Recurring fair value measurements:

Interest rate derivatives

$

430

$

$

430

$

  ​ ​ ​

December 31, 2025

Total Gains

(Dollars in thousands)

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​ ​

(Losses)

Assets

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Recurring fair value measurements:

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Securities available for sale:

 

  ​

 

 

  ​

Obligations of U.S. Government entities and agencies

$

12,542

$

$

9,947

$

2,595

 

  ​

States and political subdivisions

 

10,144

 

10,144

 

  ​

Mortgage-backed GSE residential

 

24,493

 

24,493

 

  ​

Total securities available for sale

 

47,179

 

44,584

 

2,595

 

  ​

Equity securities

18,646

18,646

SBA and USDA servicing asset

 

10,601

 

10,601

 

  ​

Interest rate derivatives

6,343

6,343

$

82,769

$

18,646

$

50,927

$

13,196

Nonrecurring fair value measurements:

 

  ​

 

  ​

 

  ​

 

  ​

Collateral-dependent loans

$

1,658

1,658

$

231

Liabilities

  ​

 

  ​

 

  ​

 

  ​

Recurring fair value measurements:

Interest rate swaps

$

451

$

$

451

$

Schedule of reconciliation of fair values of assets and liabilities measured on recurring basis using unobservable inputs

Obligations of

(Dollars in thousands)

U.S. Government

Three Months Ended:

  ​ ​ ​

Entities and Agencies

Fair value, April 1, 2026

$

2,532

Total gains included in income

 

Settlements

 

Prepayments/paydowns

(30)

Transfers in and/or out of Level 3

 

Fair value, June 30, 2026

$

2,502

Fair value, April 1, 2025

$

2,563

Total gains included in income

 

Settlements

 

Prepayments/paydowns

 

(29)

Transfers in and/or out of Level 3

 

Fair value, June 30, 2025

$

2,534

Six Months Ended:

Fair value, January 1, 2026

$

2,595

Total losses included in income

 

Settlements

 

Prepayments/paydowns

 

(93)

Transfers in and/or out of Level 3

 

Fair value, June 30, 2026

$

2,502

Fair value, January 1, 2025

$

4,467

Total gains included in income

 

Settlements

 

Prepayments/paydowns

 

(1,933)

Transfers in and/or out of Level 3

 

Fair value, June 30, 2025

$

2,534

Schedule of quantitative information about recurring Level 3 fair value measures

  ​ ​ ​

Valuation

  ​ ​ ​

Unobservable

  ​ ​ ​

General

Technique

Input

Range

June 30, 2026:

Recurring:

Obligations of U.S. Government entities and agencies

 

Discounted cash flows

 

Discount rate

 

3%-5%

SBA and USDA servicing asset

 

Discounted cash flows

 

Prepayment speed

 

6.82%-20.53%

Discount rate

 

4.93%-9.88%

Nonrecurring:

Collateral-dependent loans

Appraised value less estimated selling costs

Estimated selling costs

6%

December 31, 2025:

 

  ​

 

  ​

 

Recurring:

Obligations of U.S. Government entities and agencies

 

Discounted cash flows

 

Discount rate

 

3%-5%

SBA and USDA servicing asset

 

Discounted cash flows

 

Prepayment speed

 

6.42%-21.78%

 

Discount rate

  ​

5.75%-11.09%

Nonrecurring:

Collateral-dependent loans

Appraised value less estimated selling costs

Estimated selling costs

6%

Schedule of carrying amounts and estimated fair values of company's financial instruments

Carrying

  ​ ​ ​

Estimated Fair Value at June 30, 2026

(Dollars in thousands)

  ​ ​ ​

Amount

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

Financial Assets:

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Cash, due from banks, and federal funds sold

$

266,690

$

$

266,690

$

$

266,690

Investment securities

 

44,664

 

18,481

23,681

2,502

 

44,664

Loans held for sale

1,350

 

 

1,350

 

 

1,350

Loans, net

 

3,930,501

 

 

 

3,916,351

 

3,916,351

Accrued interest receivable

 

20,115

 

 

167

 

19,948

 

20,115

SBA and USDA servicing asset

 

11,180

 

 

 

11,180

 

11,180

Mortgage servicing asset

 

1,308

 

 

 

5,623

 

5,623

Interest rate derivatives

4,791

4,791

4,791

Financial Liabilities:

 

 

  ​

 

  ​

 

  ​

 

Deposits

 

3,489,357

 

 

3,482,727

 

 

3,482,727

Federal Home Loan Bank advances

375,000

375,488

375,488

Accrued interest payable

 

7,537

 

 

7,537

 

 

7,537

Interest rate derivatives

 

430

 

 

430

 

 

430

Carrying

Estimated Fair Value at December 31, 2025

(Dollars in thousands)

  ​ ​ ​

Amount

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Total

Financial Assets:

 

  ​

 

 

  ​

Cash, due from banks, and federal funds sold

$

383,676

$

$

383,676

$

$

383,676

Investment securities

 

65,825

 

18,646

44,584

2,595

 

65,825

Loans held for sale

9,741

9,741

9,741

Loans, net

 

4,023,554

 

 

 

3,964,005

 

3,964,005

Accrued interest receivable

 

20,298

 

 

344

 

19,954

 

20,298

SBA and USDA servicing assets

 

10,601

 

 

10,601

 

10,601

Mortgage servicing assets

 

1,660

 

 

 

5,659

 

5,659

Interest rate derivatives

6,343

6,343

6,343

Financial Liabilities:

 

 

  ​

 

  ​

 

  ​

Deposits

 

3,646,001

 

 

3,645,272

 

 

3,645,272

Federal Home Loan Bank advances

510,000

513,060

513,060

Accrued interest payable

10,731

10,731

10,731

Interest rate derivatives

451

451

451