v3.26.1
Fair Value Disclosures (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands):

  ​ ​ ​

  ​ ​ ​

Quoted Prices in

  ​ ​ ​

Significant

  ​ ​ ​

Significant

Active Markets

Other

Other

for Identical

Observable

Unobservable

Assets

Inputs

Inputs

Description

Fair Value

(Level 1)

(Level 2)

(Level 3)

June 30, 2026:

 

  ​

Assets:

 

  ​

Securities available-for-sale:

 

  ​

U.S. Treasury

$

29,228

$

$

29,228

$

U.S. Government-sponsored enterprises (GSEs)

18,493

18,493

Municipal securities

 

39,156

 

 

39,156

 

Other debt securities

 

20,276

 

 

20,276

 

Mortgage-backed securities (GSEs)

 

452,912

 

 

452,912

 

Total securities available-for-sale

560,065

560,065

Derivative financial instruments and interest rate swap agreements

10,334

10,334

Total assets at fair value

$

570,399

$

$

570,399

$

Liabilities:

 

  ​

Derivative financial instruments and interest rate swap agreements

$

10,397

$

$

10,397

$

December 31, 2025:

 

  ​

 

  ​

 

  ​

 

  ​

Assets:

 

  ​

 

  ​

 

  ​

 

  ​

Securities available-for-sale:

 

  ​

 

  ​

 

  ​

 

  ​

U.S. Treasury

$

29,629

$

$

29,629

$

U.S. Government-sponsored enterprises (GSEs)

19,064

19,064

Municipal securities

 

35,665

 

 

35,665

 

Other debt securities

 

21,000

 

 

21,000

 

Mortgage-backed securities (GSEs)

 

434,524

 

 

434,524

 

Total securities available-for-sale

539,882

539,882

Derivative financial instruments and interest rate swap agreements

13,191

13,191

Total assets at fair value

$

553,073

$

$

553,073

$

Liabilities:

 

  ​

 

  ​

 

  ​

 

  ​

Derivative financial instruments and interest rate swap agreements

$

13,524

$

$

13,524

$

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis The following tables present the financial instruments carried on the consolidated balance sheets by caption and by level in the fair value hierarchy (in thousands):

  ​ ​ ​

  ​ ​ ​

Quoted Prices in

  ​ ​ ​

Significant

  ​ ​ ​

Significant

Active Markets

Other

Other

for Identical

Observable

Unobservable

Assets

Inputs

Inputs

Fair Value

(Level 1)

(Level 2)

(Level 3)

June 30, 2026:

 

  ​

 

  ​

 

  ​

 

  ​

Collateral-dependent loans

$

4,371

$

$

$

4,371

December 31, 2025:

 

  ​

 

  ​

 

  ​

 

  ​

Collateral-dependent loans

$

6,285

$

$

$

6,285

Fair Value Measurement Inputs and Valuation Techniques

For Level 3 assets measured at fair value on a non-recurring basis, the significant unobservable inputs used in the fair value measurements are presented below (dollars in thousands):

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Weighted

Valuation

Significant Other

Average of

Fair Value

Technique

Unobservable Input

Input

June 30, 2026:

Collateral-dependent loans

$

4,371

 

Appraisal

 

Appraisal discounts

 

45

%

December 31, 2025:

Collateral-dependent loans

$

6,285

 

Appraisal

 

Appraisal discounts

 

56

%

Fair Value, by Balance Sheet Grouping

The carrying amount and estimated fair value of the Company’s financial instruments are as follows (in thousands):

Fair Value Measurements Using

  ​ ​ ​

Carrying

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Estimated

Amount

Level 1

Level 2

Level 3

Fair Value

June 30, 2026:

Assets:

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Cash and cash equivalents

$

379,387

 

$

379,387

 

$

 

$

$

379,387

Securities available-for-sale

 

560,065

 

 

560,065

 

 

560,065

Securities held-to-maturity

119,848

106,546

106,546

Other investments

 

17,529

 

N/A

 

N/A

 

N/A

 

N/A

Loans and leases, net and loans held for sale

 

4,647,311

 

 

 

4,613,563

 

4,613,563

Derivative financial instruments and interest rate swap agreements

10,334

10,334

10,334

Liabilities:

 

 

  ​

 

  ​

 

  ​

 

  ​

Noninterest-bearing demand deposits

 

921,876

 

 

921,876

 

 

921,876

Interest-bearing demand deposits

 

1,022,074

 

 

1,022,074

 

 

1,022,074

Money market and savings deposits

 

2,454,805

 

 

2,454,805

 

 

2,454,805

Time deposits

 

986,795

 

 

986,442

 

 

986,442

Borrowings

603

603

603

Subordinated debt

 

98,805

 

 

 

100,731

 

100,731

Derivative financial instruments and interest rate swap agreements

 

10,397

 

 

10,397

 

 

10,397

December 31, 2025:

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Assets:

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Cash and cash equivalents

$

464,417

 

$

464,417

 

$

 

$

$

464,417

Securities available-for-sale

 

539,882

 

 

539,882

 

 

539,882

Securities held-to-maturity

122,121

109,416

109,416

Other investments

 

16,441

 

N/A

 

N/A

 

N/A

 

N/A

Loans and leases, net and loans held for sale

 

4,333,541

 

 

 

4,281,699

 

4,281,699

Derivative financial instruments and interest rate swap agreements

13,191

13,191

13,191

Liabilities:

 

 

  ​

 

  ​

 

  ​

 

  ​

Noninterest-bearing demand deposits

 

1,062,918

 

 

1,062,918

 

 

1,062,918

Interest-bearing demand deposits

 

945,716

 

 

945,716

 

 

945,716

Money market and savings deposits

 

2,273,612

 

 

2,273,612

 

 

2,273,612

Time deposits

 

870,543

 

 

872,143

 

 

872,143

Borrowings

3,009

3,009

3,009

Subordinated debt

 

98,662

 

 

 

100,660

 

100,660

Derivative financial instruments and interest rate swap agreements

 

13,524

 

 

13,524

 

 

13,524