Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value of Financial Instruments [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value under ASC 820 on a recurring basis are summarized below:

		Fair Value Measurements at
		June 30, 2026 Using:
(dollars in thousands)		Carrying Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)

U.S. government sponsored enterprises		$	14,956			$	-			$	14,956			$	-
State and political subdivisions			9				-				9				-
Mortgage backed securities and collateralized mortgage obligations - residential			203,601				-				203,601				-
Corporate bonds			73,804				-				73,804				-
Small Business Administration- guaranteed participation securities			10,153				-				10,153				-
Other securities			718				-				718				-

Total securities available for sale		$	303,241			$	-			$	303,241			$	-

		Fair Value Measurements at
		December 31, 2025 Using:
(dollars in thousands)		Carrying Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)

Securities available for sale:
U.S. government sponsored enterprises		$	31,772			$	-			$	31,772			$	-
State and political subdivisions			9				-				9				-
Mortgage backed securities and collateralized mortgage obligations - residential			206,290				-				206,290				-
Corporate bonds			59,932				-				59,932				-
Small Business Administration- guaranteed participation securities			11,710				-				11,710				-
Other securities			705				-				705				-

Total securities available for sale		$	310,418			$	-			$	310,418			$	-

Assets Measured at Fair Value on Non-Recurring Basis

Assets measured at fair value on a non-recurring basis are summarized below:

		Fair Value Measurements at
		June 30, 2026 Using:
(dollars in thousands)		Carrying Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)			Valuation technique		Unobservable inputs		Range (Weighted Average)

Other real estate owned		$	1,234			$	-			$	-			$	1,234		Sales comparison		Adjustments for			0% - 2% (2	%)
																	approach		differences between
																			comparable sales
Individually evaluated loans:
Commercial			156				-				-				156		Sales comparison		Adjustments for			0% - 52% (26	%)
																	approach		differences between
																			comparable sales

		Fair Value Measurements at
		December 31, 2025 Using:
(dollars in thousands)		Carrying Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)			Valuation technique		Unobservable inputs		Range (Weighted Average)

Other real estate owned		$	1,394			$	-			$	-			$	1,394		Sales comparison		Adjustments for			0% - 58% (29	%)
																	approach		differences between
																			comparable sales
Individually evaluated loans:
Real estate mortgage - 1 to 4 family			86				-				-				86		Sales comparison		Adjustments for			0% - 52% (26	%)
																	approach		differences between
																			comparable sales

Carrying Amounts and Estimated Fair Values of Financial Instruments

In accordance with FASB Topic 825, Financial Instruments (“ASC 825”), the carrying amounts and estimated fair values of financial instruments at June 30, 2026 and December 31, 2025 are as follows:

(dollars in thousands)		Carrying Value				Fair Value Measurements at
						June 30, 2026 Using:
						Level 1				Level 2				Level 3				Total
Financial assets:
Cash and cash equivalents		$	696,639			$	696,639			$	-			$	-			$	696,639
Securities available for sale			303,241								303,241				-				303,241
Held to maturity securities			3,842				-				3,867				-				3,867
Federal Home Loan Bank stock			6,756				N/A				N/A				N/A				N/A
Net loans			5,323,153				-				-				4,935,549				4,935,549
Accrued interest receivable			14,810				244				1,354				13,212				14,810
Financial liabilities:
Demand deposits			824,717				824,717				-				-				824,717
Interest bearing deposits			4,856,849				2,605,479				2,241,285				-				4,846,764
Short-term borrowings			108,382				-				108,382				-				108,382
Accrued interest payable			3,426				122				3,304				-				3,426

(dollars in thousands)		Carrying Value				Fair Value Measurements at
						December 31, 2025 Using:
						Level 1				Level 2				Level 3				Total
Financial assets:
Cash and cash equivalents		$	730,427			$	730,427			$	-			$	-			$	730,427
Securities available for sale			310,418				-				310,418				-				310,418
Held to maturity securities			4,339				-				4,389				-				4,389
Federal Home Loan Bank stock			6,601				N/A				N/A				N/A				N/A
Net loans			5,200,255				-				-				4,803,366				4,803,366
Accrued interest receivable			13,828				325				1,266				12,237				13,828
Financial liabilities:
Demand deposits			814,908				814,908				-				-				814,908
Interest bearing deposits			4,742,509				2,604,094				2,132,833				-				4,736,927
Short-term borrowings			120,054				-				120,054				-				120,054
Accrued interest payable			3,646				159				3,487				-				3,646