v3.26.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy for Assets Measured at Fair Value

The following table presents the Company’s approximate fair value hierarchy for assets measured at fair value as of September 30:

 

Schedule of Fair Value Hierarchy for Assets Measured at Fair Value 

   Total   (Level 1)   (Level 2)   (Level 3) 
2026
   Fair Value Measurements at 
       Reporting Date Using 
   Total   (Level 1)   (Level 2)   (Level 3) 
Assets and liabilities measured at fair value on a recurring basis:                
Assets:                    
Debt securities available for sale  $141,065   $12,549   $128,516    -  
Mortgage loans held for sale   5,798    -     5,798    -  
Derivative assets   14    -     14    -  
Forward contracts   85    -     85    -  
                     
Assets measured at fair value on a non-recurring basis:                    
Assets:                    
Collateral-dependent loans, net
of specific reserves		  $1,814    -     -    $1,814 
Foreclosed assets   402    -     -     402 

 

 

TRI-COUNTY FINANCIAL GROUP, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

(000s omitted except share data)

 

(14)Fair Value Measurements (continued):

 

The following table presents the Company’s approximate fair value hierarchy for assets measured at fair value as of December 31:

 

   Total   (Level 1)   (Level 2)   (Level 3) 
2025
   Fair Value Measurements at 
       Reporting Date Using 
   Total   (Level 1)   (Level 2)   (Level 3) 
Assets measured at fair                
value on a recurring basis:                    
Assets:                    
Debt securities available for sale  $154,207   $17,485   $136,722    -  
Mortgage loans held for sale  12,688    -    12,688    -  
Derivative assets  352    -    352    -  
Liabilities:                    
Forward contracts  $60    -    $60    -  
Assets measured at fair value on a non-recurring basis:                    
Assets:                    
Collateral-dependent loans, net
of specific reserves		  $6,153    -     -    $6,153 
Foreclosed assets  101    -     -    101 
Schedule of Carrying Amounts and Estimated Fair Values

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments as of September 30:

Schedule of Carrying Amounts and Estimated Fair Values  

   Carrying Amount  

 

(Level 1)

  

 

(Level 2)

  

 

(Level 3)

  

 

Total

 
   2026 
       Fair Value Measurements at     
     Reporting Date Using 
   Carrying Amount  

 

(Level 1)

  

 

(Level 2)

  

 

(Level 3)

  

 

Total

 
Financial assets:                    
Cash and cash equivalents  $68,642   $68,642             $68,642 
Securities available for sale   141,065    12,549    128,516         141,065 
Federal Home Loan Bank stock   3,459              3,459    3,459 
Mortgage loans held for sale   5,798         5,798         5,798 
Loans, net   1,287,328              1,284,956    1,284,956 
Accrued interest receivable   10,672    10,672              10,672 
Mortgage servicing rights   520         4,593         4,593 
Derivative assets   14         14         14 
Forward Commitments   85         85         85 

 

                         
Financial liabilities:                         
Deposits  $1,287,263   $906,203        $381,440   $1,287,644 
FHLB advances and
other borrowings		   72,917              72,917    72,917 
Securities sold under
agreements to repurchase		   25,530    25,530              25,530 
Accrued interest payable   2,736    2,736              2,736 

 

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments as of December 31:

 

   Carrying Amount  

 

(Level 1)

  

 

(Level 2)

  

 

(Level 3)

  

 

Total

 
   2025 
       Fair Value Measurements at     
       Reporting Date Using 
   Carrying Amount  

 

(Level 1)

  

 

(Level 2)

  

 

(Level 3)

  

 

Total

 
Financial assets:                    
Cash and cash equivalents  $49,639   $49,639             $49,639 
Securities available for sale   154,207    17,485    136,722         154,207 
Federal Home Loan Bank stock   3,572              3,572    3,572 
Mortgage loans held for sale   12,688         12,688         12,688 
Loans, net   1,300,302              1,283,910    1,283,910 
Accrued interest receivable   8,222    8,222              8,222 
Mortgage servicing rights   585         4,593         4,593 
Derivative assets   352         352         352 
                          
Financial liabilities:                         
Deposits  $1,303,923   $891,827        $412,629   $1,304,456 
FHLB advances and
other borrowings		   77,917              77,917    77,917 
Securities sold under
agreements to repurchase		   23,105    23,105              23,105 
Accrued interest payable   2,648    2,648              2,648 
Forward commitments   61         61         61