Assets and Liabilities Measured at Fair Value on Recurring Basis


	Fair Value Measurements at
	December 31, 2024 Using:
	Quoted Prices in		Significant
	Active Markets		Other		Significant
	for Identical		Observable		Unobservable		Total
	Assets		Inputs		Inputs		Fair
(in thousands)	(Level 1)		(Level 2)		(Level 3)		Value
Financial assets:
Available-for-sale debt securities:
U.S. Treasury securities and U.S. Government agencies	$	84,775	$	304,311	$	—	$	389,086
Private label mortgage-backed security		—		—		1,550		1,550
Mortgage-backed securities - residential		—		168,233		—		168,233
Collateralized mortgage obligations		—		19,243		—		19,243
Corporate bonds		—		2,009		—		2,009
Trust preferred security		—		—		4,034		4,034
Total available-for-sale debt securities	$	84,775	$	493,796	$	5,584	$	584,155

Equity securities with readily determinable fair value:
Freddie Mac preferred stock	$	—	$	693	$	—	$	693
Total equity securities with readily determinable fair value	$	—	$	693	$	—	$	693

Mortgage loans held for sale	$	—	$	8,312	$	—	$	8,312
Consumer loans held for sale		—		—		5,443		5,443
Rate lock commitments		—		223		—		223
Mandatory forward contracts		—		70		—		70
Interest rate swap agreements - Bank clients and institutional swap dealer		—		6,588		—		6,588

Financial liabilities:
Interest rate swap agreements - Bank clients and institutional swap dealer	$	—	$	6,588	$	—	$	6,588
Interest rate swap agreements on FHLB advances		—		647		—		647


	Fair Value Measurements at
	December 31, 2023 Using:
	Quoted Prices in		Significant
	Active Markets		Other		Significant
	for Identical		Observable		Unobservable		Total
	Assets		Inputs		Inputs		Fair
(in thousands)	(Level 1)		(Level 2)		(Level 3)		Value
Financial assets:
Available-for-sale debt securities:
U.S. Treasury securities and U.S. Government agencies	$	177,784	$	229,249	$	—	$	407,033
Private label mortgage-backed security		—		—		1,773		1,773
Mortgage-backed securities - residential		—		154,710		—		154,710
Collateralized mortgage obligations		—		21,659		—		21,659
Corporate bonds		—		2,020		—		2,020
Trust preferred security		—		—		4,118		4,118
Total available-for-sale debt securities	$	177,784	$	407,638	$	5,891	$	591,313

Equity securities with readily determinable fair value:
Freddie Mac preferred stock	$	—	$	174	$	—	$	174
Total equity securities with readily determinable fair value	$	—	$	174	$	—	$	174

Mortgage loans held for sale	$	—	$	3,227	$	—	$	3,227
Consumer loans held for sale		—		—		7,914		7,914
Rate lock commitments		—		243		—		243
Interest rate swap agreements - Bank clients and institutional swap dealer		—		8,933		—		8,933

Financial liabilities:
Mandatory forward contracts	$	—	$	61	$	—	$	61
Interest rate swap agreements - Bank clients and institutional swap dealer		—		8,933		—		8,933

Provisions for collateral dependent impaired loans




Years Ended December 31, (in thousands)	2024		2023		2022

Provision on collateral-dependent loans	$	13	$	(4)	$	7

Carrying amount and estimated fair values of financial instruments

Fair Value Measurements at

December 31, 2024:

Total

Carrying

Fair

(in thousands)

Value

Level 1

Level 2

Level 3

Value

Assets:

Cash and cash equivalents

$

432,151

$

432,151

$

—

$

—

$

432,151

Available-for-sale debt securities

584,155

84,775

493,796

5,584

584,155

Held-to-maturity debt securities

10,778

—

10,735

—

10,735

Equity securities with readily determinable fair values

693

—

693

—

693

Mortgage loans held for sale, at fair value

8,312

—

8,312

—

8,312

Consumer loans held for sale, at fair value

5,443

—

5,443

Consumer loans held for sale, at the lower of cost or fair value

18,632

—

18,714

Loans, net

5,347,488

—

5,209,571

Federal Home Loan Bank stock

24,478

—

NA

Accrued interest receivable

20,128

—

20,128

—

20,128

Mortgage servicing rights

6,975

—

17,159

—

17,159

Rate lock commitments

223

—

223

—

223

Mandatory forward contracts

70

—

70

—

70

Interest rate swap agreements - Bank clients and institutional swap dealer

6,588

—

6,588

—

6,588

Liabilities:

Noninterest-bearing deposits

$

1,207,764

$

—

$

1,207,764

$

—

$

1,207,764

Transaction deposits

3,231,738

—

3,231,738

—

3,231,738

Time deposits

771,044

—

773,415

—

773,415

Securities sold under agreements to repurchase and other short-term borrowings

103,318

—

103,318

—

103,318

Federal Home Loan Bank advances

395,000

—

395,814

—

395,814

Accrued interest payable

5,153

—

5,153

—

5,153

Interest rate swap agreements - Bank clients and institutional swap dealer

6,588

—

6,588

—

6,588

Interest rate swap agreements on FHLB advances

647

—

647

—

647

NA - Not applicable


			Fair Value Measurements at
			December 31, 2023:
									Total
	Carrying								Fair
(in thousands)	Value		Level 1		Level 2		Level 3		Value

Assets:
Cash and cash equivalents	$	316,567	$	316,567	$	—	$	—	$	316,567
Available-for-sale debt securities		591,313		177,784		407,638		5,891		591,313
Held-to-maturity debt securities		76,387		—		76,167		—		76,167
Equity securities with readily determinable fair values		174		—		174		—		174
Mortgage loans held for sale, at fair value		3,227		—		3,227		—		3,227
Consumer loans held for sale, at fair value		7,914		—		—		7,914		7,914
Consumer loans held for sale, at the lower of cost or fair value		16,094		—		—		16,094		16,094
Loans, net		5,157,731		—		—		4,874,974		4,874,974
Federal Home Loan Bank stock		23,770		—		—		—		NA
Accrued interest receivable		18,447		—		4,097		14,350		18,447
Mortgage servicing rights		7,411		—		16,054		—		16,054
Rate lock commitments		243		—		243		—		243
Interest rate swap agreements - Bank clients and institutional swap dealer		8,933		—		8,933		—		8,933

Liabilities:
Noninterest-bearing deposits	$	1,676,998	$	—	$	1,676,998	$	—	$	1,676,998
Transaction deposits		2,924,114		—		2,924,114		—		2,924,114
Time deposits		452,051		—		446,218		—		446,218
Securities sold under agreements to repurchase and other short-term borrowings		99,530		—		99,530		—		99,530
Federal Home Loan Bank advances		380,000		—		382,062		—		382,062
Accrued interest payable		4,073		—		4,073		—		4,073
Rate lock commitments		243		—		243		—		243
Mandatory forward contracts		61		—		61		—		61
Interest rate swap agreements - Bank clients and institutional swap dealer		8,933		—		8,933		—		8,933

NA - Not applicable

Fair Value Disclosures

Reconciliation of the Bank's investments measured at fair value on a recurring basis using significant unobservable inputs




(in thousands)	2024		2023		2022

Balance, beginning of period	$	1,773	$	2,127	$	2,731
Total gains or losses included in earnings:
Net change in unrealized gain (loss)		99		46		(29)
Principal paydowns		(322)		(400)		(575)
Balance, end of period	$	1,550	$	1,773	$	2,127

Fair Value Disclosures

Reconciliation of the Bank's investments measured at fair value on a recurring basis using significant unobservable inputs




Years Ended December 31, (in thousands)	2024		2023		2022

Balance, beginning of period	$	4,118	$	3,855	$	3,847
Total gains or losses included in earnings:
Discount accretion		62		59		57
Net change in unrealized gain (loss)		(146)		204		(49)
Balance, end of period	$	4,034	$	4,118	$	3,855

Fair Value Disclosures

Schedule of gains and losses from changes in fair value included in earnings




Years Ended December 31, (in thousands)	2024		2023		2022

Interest income	$	627	$	282	$	519
Change in fair value		136		22		(688)
Total included in earnings	$	763	$	304	$	(169)

Fair Value Disclosures

Schedule of gains and losses from changes in fair value included in earnings




Years Ended December 31, (in thousands)	2024		2023		2022

Interest income	$	5,025	$	4,242	$	9,970
Change in fair value		17		(22)		(142)
Total included in earnings	$	5,042	$	4,220	$	9,828

Fair Value Disclosures