| Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis |
Assets and liabilities measured at fair value on a recurring basis are summarized below:
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June 30, 2026 |
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(In thousands) |
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Level 1 |
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Level 2 |
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Level 3 |
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Total Fair
Value |
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Assets |
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Securities |
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Debt securities |
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$ |
— |
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$ |
315,091 |
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$ |
— |
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$ |
315,091 |
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MSRs |
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|
— |
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3,168 |
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|
— |
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|
3,168 |
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Interest rate swaps and cap |
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— |
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6,212 |
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— |
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6,212 |
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Total assets |
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$ |
— |
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$ |
324,471 |
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$ |
— |
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$ |
324,471 |
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Liabilities |
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Interest rate swaps |
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$ |
— |
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$ |
5,836 |
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$ |
— |
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$ |
5,836 |
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Total liabilities |
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$ |
— |
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$ |
5,836 |
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$ |
— |
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$ |
5,836 |
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|
December 31, 2025 |
|
(In thousands) |
|
Level 1 |
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Level 2 |
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Level 3 |
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Total Fair
Value |
|
Assets |
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Securities |
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Debt securities |
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$ |
— |
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$ |
269,139 |
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$ |
— |
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$ |
269,139 |
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MSRs |
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— |
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|
3,033 |
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— |
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|
3,033 |
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Interest rate swaps |
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— |
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5,958 |
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— |
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5,958 |
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Total assets |
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$ |
— |
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|
$ |
278,130 |
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$ |
— |
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$ |
278,130 |
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Liabilities |
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Interest rate swaps |
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$ |
— |
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$ |
6,349 |
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$ |
— |
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$ |
6,349 |
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Total liabilities |
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$ |
— |
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$ |
6,349 |
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$ |
— |
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$ |
6,349 |
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| Summary of Carrying Amounts and Estimated Fair Values of Consolidated Financial Instruments |
The carrying amounts and estimated fair values of the Company’s consolidated financial instruments as of the balance sheet dates were as follows:
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June 30, 2026 |
|
(In thousands) |
|
Carrying
Amount |
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Fair
Value |
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Level 1 |
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Level 2 |
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Level 3 |
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Financial assets: |
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Cash and due from banks |
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$ |
70,474 |
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$ |
70,474 |
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$ |
70,474 |
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$ |
— |
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$ |
— |
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Securities available for sale |
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|
315,091 |
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|
315,091 |
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— |
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315,091 |
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— |
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Securities held to maturity |
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12,500 |
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12,222 |
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— |
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12,222 |
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— |
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Federal Home Loan Bank stock |
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8,051 |
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8,051 |
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— |
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8,051 |
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— |
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Loans, net |
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2,236,617 |
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2,152,466 |
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— |
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— |
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2,152,466 |
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Accrued interest receivable |
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8,700 |
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|
8,700 |
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— |
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|
8,700 |
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— |
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Bank-owned life insurance |
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47,309 |
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47,309 |
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— |
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47,309 |
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— |
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MSRs |
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3,168 |
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3,168 |
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— |
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3,168 |
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— |
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Financial liabilities: |
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Deposits, other than certificates of deposit |
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1,834,591 |
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1,834,591 |
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— |
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1,834,591 |
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— |
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Certificates of deposit |
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319,017 |
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317,540 |
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— |
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317,540 |
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— |
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Federal Home Loan Bank advances |
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160,000 |
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|
160,127 |
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— |
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160,127 |
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— |
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Subordinated debt |
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27,877 |
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25,395 |
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— |
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25,395 |
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— |
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Accrued interest payable |
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1,061 |
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1,061 |
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— |
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1,061 |
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— |
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December 31, 2025 |
|
(In thousands) |
|
Carrying
Amount |
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|
Fair
Value |
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|
Level 1 |
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Level 2 |
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Level 3 |
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Financial assets: |
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Cash and due from banks |
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$ |
145,454 |
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$ |
145,454 |
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$ |
145,454 |
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$ |
— |
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$ |
— |
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Securities available for sale |
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|
269,139 |
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|
269,139 |
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— |
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269,139 |
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— |
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Securities held to maturity |
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13,000 |
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|
12,601 |
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— |
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12,601 |
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— |
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Federal Home Loan Bank stock |
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11,801 |
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|
11,801 |
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— |
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11,801 |
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— |
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Loans, net |
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2,276,448 |
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2,155,617 |
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— |
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— |
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2,155,617 |
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Loans held for sale |
|
400 |
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|
400 |
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— |
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|
400 |
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— |
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Accrued interest receivable |
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8,537 |
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8,537 |
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— |
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8,537 |
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— |
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Bank-owned life insurance |
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36,660 |
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36,660 |
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— |
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36,660 |
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— |
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MSRs |
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3,033 |
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|
3,033 |
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— |
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3,033 |
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— |
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Financial liabilities: |
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Deposits, other than certificates of deposit |
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1,805,631 |
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1,805,631 |
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— |
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1,805,631 |
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— |
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Certificates of deposit |
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322,652 |
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322,172 |
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— |
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322,172 |
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— |
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Federal Home Loan Bank advances |
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|
260,000 |
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|
260,687 |
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— |
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|
260,687 |
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— |
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Subordinated debt |
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27,815 |
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|
25,242 |
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— |
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25,242 |
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— |
|
Accrued interest payable |
|
|
1,505 |
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|
|
1,505 |
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— |
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|
1,505 |
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— |
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