v3.26.3
Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 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
  
   
September 30, 2026 Using:
  
               
Significant
        
         
Quoted Prices in
    
Other
    
Significant
  
         
Active Markets for
    
Observable
    
Unobservable
  
   
Carrying
    
Identical Assets
    
Inputs
    
Inputs
  
(dollars in thousands)
  
Value
    
(Level 1)
    
(Level 2)
    
(Level 3)
  
                         
U.S. government sponsored enterprises
  
$
9,873
    
$
-
    
$
9,873
    
$
-
  
State and political subdivisions
    
9
      
-
      
9
      
-
  
Mortgage backed securities and collateralized
mortgage obligations - residential
   
196,688
      
-
      
196,688
      
-
  
Corporate bonds
    
77,434
      
-
      
77,434
      
-
  
Small Business Administration- guaranteed
participation securities
    
9,306
      
-
      
9,306
      
-
  
Other securities
    
713
      
-
      
713
      
-
  
                                 
Total securities available for sale
  
$
294,023
    
$
-
    
$
294,023
    
$
-
  

   
Fair Value Measurements at
  
   
December 31, 2025 Using:
  
               
Significant
        
         
Quoted Prices in
    
Other
    
Significant
  
         
Active Markets for
    
Observable
    
Unobservable
  
   
Carrying
    
Identical Assets
    
Inputs
    
Inputs
  
(dollars in thousands)
  
Value
    
(Level 1)
    
(Level 2)
    
(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              
   
September 30, 2026 Using:
              
                Significant                    
          Quoted Prices in     Other     Significant              
          Active Markets for     Observable     Unobservable              
    Carrying     Identical Assets     Inputs     Inputs              
(dollars in thousands)   Value     (Level 1)     (Level 2)     (Level 3)  
Valuation technique
  
Unobservable inputs
  
Range (Weighted Average)
  
                                     
Other real estate owned  
$
1,183
    
$
-
    
$
-
    
$
1,183
  
Sales comparison
  
Adjustments for
    
0% - 12% (6
%)
                                 
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:                
                    Significant                        
            Quoted Prices in     Other     Significant                
            Active Markets for     Observable     Unobservable                
    Carrying     Identical Assets     Inputs     Inputs                
(dollars in thousands)   Value     (Level 1)     (Level 2)     (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 September 30, 2026 and December 31, 2025 are as follows:

(dollars in thousands)
        
Fair Value Measurements at
  
   
Carrying
    
September 30, 2026 Using:
  
   
Value
    
Level 1
    
Level 2
    
Level 3
    
Total
  
Financial assets:
                              
Cash and cash equivalents
  
$
597,316
    
$
597,316
    
$
-
    
$
-
    
$
597,316
  
Securities available for sale
    
294,023
              
294,023
      
-
      
294,023
  
Held to maturity securities
    
3,640
      
-
      
3,562
      
-
      
3,562
  
 Federal Home Loan Bank stock
    
6,756
      
N/A
      
N/A
      
N/A
      
N/A
  
Net loans
    
5,399,124
      
-
      
-
      
4,996,872
      
4,996,872
  
Accrued interest receivable
    
15,533
      
732
      
1,220
      
13,581
      
15,533
  
Financial liabilities:
                                        
Demand deposits
    
817,555
      
817,555
      
-
      
-
      
817,555
  
Interest bearing deposits
    
4,866,663
      
2,567,337
      
2,284,859
      
-
      
4,852,196
  
Short-term borrowings
    
98,108
      
-
      
98,108
      
-
      
98,108
  
Accrued interest payable
    
3,498
      
123
      
3,375
      
-
      
3,498
  

(dollars in thousands)
        
Fair Value Measurements at
  
   
Carrying
    
December 31, 2025 Using:
  
   
Value
    
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