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Fair Value (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value |
Schedule of assets and liabilities measured at fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2024
​ | ​ | Fair Value Measurements Using
​ | ​ | Significant Unobservable Inputs (Level 3)
(Dollar amounts in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
U.S. Government agencies | ​ | $ | — | ​ | $ | 86,930 | ​ | $ | — | ​ | $ | 86,930
Mortgage Backed Securities-residential | ​ |  | — | ​ |  | 543,755 | ​ |  | — | ​ |  | 543,755
Mortgage Backed Securities-commercial | ​ |  | — | ​ |  | 7,444 | ​ |  | — | ​ |  | 7,444
Collateralized mortgage obligations | ​ |  | — | ​ |  | 170,308 | ​ |  | — | ​ |  | 170,308
State and municipal | ​ |  | — | ​ |  | 359,032 | ​ |  | 805 | ​ |  | 359,837
Municipal taxable | ​ |  | — | ​ |  | 34,118 | ​ |  | — | ​ |  | 34,118
U.S. Treasury | ​ |  | — | ​ |  | 467 | ​ |  | — | ​ |  | 467
Collateralized debt obligations | ​ |  | — | ​ |  | — | ​ |  | 2,892 | ​ |  | 2,892
TOTAL | ​ | $ | — | ​ | $ | 1,202,054 | ​ | $ | 3,697 | ​ | $ | 1,205,751
Derivative Assets | ​ | ​ | ​ | ​ | ​ | 2,994 | ​ |  |  | ​ |  |
Derivative Liabilities | ​ | ​ | ​ | ​ |  | (2,994) | ​ |  |  | ​ |  |
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2023
​ | ​ | Fair Value Measurements Using
​ | ​ | Significant Unobservable Inputs (Level 3)
(Dollar amounts in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
U.S. Government agencies | ​ | $ | — | ​ | $ | 91,440 | ​ | $ | — | ​ | $ | 91,440
Mortgage Backed Securities-residential | ​ | ​ | — | ​ | ​ | 569,885 | ​ |  | — | ​ | ​ | 569,885
Mortgage Backed Securities-commercial |  | ​ | — |  | ​ | 7,483 | ​ |  | — |  | ​ | 7,483
Collateralized mortgage obligations |  | ​ | — |  | ​ | 180,829 | ​ |  | — |  | ​ | 180,829
State and municipal |  | ​ | — |  | ​ | 369,631 | ​ |  | 1,180 |  | ​ | 370,811
Municipal taxable |  | ​ | — |  | ​ | 34,285 | ​ |  | — |  | ​ | 34,285
U.S. Treasury |  | ​ | — |  | ​ | 1,402 | ​ |  | — |  | ​ | 1,402
Collateralized debt obligations |  | ​ | — |  | ​ | — | ​ |  | 3,002 |  | ​ | 3,002
TOTAL | ​ | $ | — | ​ | $ | 1,254,955 | ​ | $ | 4,182 | ​ | $ | 1,259,137
Derivative Assets | ​ | ​ | ​ | ​ | ​ | 2,878 | ​ |  |  | ​ |  |
Derivative Liabilities | ​ | ​ | ​ | ​ |  | (2,878) | ​ |  |  | ​ |  |
Schedule of fair value measurements using significant unobservable inputs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
​ | ​ | Three Months Ended
​ | ​ | June 30, 2024
​ |  | State and |  | ​ | ​ |  | ​ | ​
​ | ​ | municipal | ​ | Collateralized | ​ | ​ | ​
(Dollar amounts in thousands) |  | obligations |  | debt obligations |  | Total
Beginning balance, April 1 | ​ | $ | 805 | ​ | $ | 2,888 | ​ | $ | 3,693
Total realized/unrealized gains or losses | ​ |  | ​ | ​ | ​ | ​ | ​ |  |
Included in earnings | ​ |  | — | ​ |  | — | ​ |  | —
Included in other comprehensive income | ​ |  | — | ​ |  | 4 | ​ |  | 4
Transfers | ​ |  | — | ​ |  | — | ​ |  | —
Settlements | ​ |  | — | ​ |  | — | ​ |  | —
Ending balance, June 30 | ​ | $ | 805 | ​ | $ | 2,892 | ​ | $ | 3,697
​ ​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
​ | ​ | Six Months Ended
​ | ​ | June 30, 2024
​ |  | State and |  | ​ | ​ |  | ​ | ​
​ | ​ | municipal | ​ | Collateralized | ​ | ​ | ​
(Dollar amounts in thousands) |  | obligations |  | debt obligations |  | Total
Beginning balance, January 1 | ​ | $ | 1,180 | ​ | $ | 3,002 | ​ | $ | 4,182
Total realized/unrealized gains or losses | ​ |  | ​ | ​ | ​ | ​ | ​ |  |
Included in earnings | ​ |  | — | ​ |  | — | ​ |  | —
Included in other comprehensive income | ​ |  | — | ​ |  | (110) | ​ |  | (110)
Transfers | ​ |  | — | ​ |  | — | ​ |  | —
Settlements | ​ |  | (375) | ​ |  | — | ​ |  | (375)
Ending balance, June 30 | ​ | $ | 805 | ​ | $ | 2,892 | ​ | $ | 3,697
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
​ | ​ | Year Ended
​ | ​ | December 31, 2023
​ | ​ | State and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | municipal | ​ | Collateralized | ​ | ​ | ​
(Dollar amounts in thousands) |  | obligations |  | debt obligations | ​ | Total
Beginning balance, January 1 | ​ | $ | 1,545 | ​ | $ | 2,986 | ​ | $ | 4,531
Total realized/unrealized gains or losses |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
Included in earnings |  | ​ | — | ​ |  | — | ​ | ​ | —
Included in other comprehensive income |  | ​ | — | ​ |  | 16 | ​ | ​ | 16
Purchases |  | ​ | — | ​ |  | — | ​ | ​ | —
Settlements |  | ​ | (365) | ​ |  | — | ​ | ​ | (365)
Ending balance, December 31 | ​ | $ | 1,180 | ​ | $ | 3,002 | ​ | $ | 4,182
Schedule of quantitative information about recurring and non-recurring Level 3 | ​ The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at June 30, 2024. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollar amounts in thousands) |  | Fair Value |  | Valuation Technique(s) |  | Unobservable Input(s) |  | Range |
State and municipal obligations | ​ | $ | 805 |  | Discounted cash flow |  | Discount rate |  | 4.24%-4.44 | %
Collateralized debt obligations | ​ | $ | 2,892 |  | Discounted cash flow |  | Discount rate |  | 7.27 | %
Collateral dependent loans | ​ | $ | 5,103 |  | Discounted cash flow |  | Discount rate for age of appraisal and market conditions |  | 5.00%-100.00 | %
​ The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31, 2023. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollar amounts in thousands) |  | Fair Value |  | Valuation Technique(s) |  | Unobservable Input(s) |  | Range |
State and municipal obligations | ​ | $ | 1,180 |  | Discounted cash flow |  | Discount rate |  | 4.04%-4.44 | %
Collateralized debt obligations | ​ | $ | 3,002 |  | Discounted cash flow |  | Discount rate |  | 7.36 | %
Collateral dependent loans | ​ | ​ | 11,306 |  | Discounted cash flow |  | Discount rate for age of appraisal and market conditions |  | 0.00%-100.00 | %
Schedule of carrying amount and estimated fair value of financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, 2024
​ | ​ | Carrying | ​ | Fair Value
(Dollar amounts in thousands) |  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash and due from banks | ​ | $ | 75,073 | ​ | $ | 24,820 | ​ | $ | 50,253 | ​ | $ | — | ​ | $ | 75,073
Federal funds sold | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Securities available-for-sale | ​ |  | 1,205,751 | ​ |  | — | ​ |  | 1,202,054 | ​ |  | 3,697 | ​ |  | 1,205,751
Restricted stock | ​ |  | 15,378 | ​ |  | n/a |  | ​ | n/a |  | ​ | n/a |  | ​ | n/a
Loans, net | ​ |  | 3,165,675 | ​ |  | — | ​ |  | — | ​ |  | 3,030,377 | ​ |  | 3,030,377
Accrued interest receivable | ​ |  | 23,733 | ​ |  | — | ​ |  | 6,558 | ​ |  | 17,175 | ​ |  | 23,733
Deposits | ​ |  | (4,132,327) | ​ |  | — | ​ |  | (4,130,751) | ​ |  | — | ​ |  | (4,130,751)
Short-term borrowings | ​ |  | (38,211) | ​ |  | — | ​ |  | (38,211) | ​ |  | — | ​ |  | (38,211)
Other borrowings | ​ |  | (108,575) | ​ |  | — | ​ |  | (108,507) | ​ |  | — | ​ |  | (108,507)
Accrued interest payable | ​ |  | (3,213) | ​ |  | — | ​ |  | (3,213) | ​ |  | — | ​ |  | (3,213)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2023
​ | ​ | Carrying | ​ | Fair Value
(Dollar amounts in thousands) |  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash and due from banks | ​ | $ | 76,759 | ​ | $ | 25,467 | ​ | $ | 51,292 | ​ | $ | — | ​ | $ | 76,759
Federal funds sold | ​ | ​ | 282 | ​ | ​ | — | ​ | ​ | 282 | ​ | ​ | — | ​ | ​ | 282
Securities available-for-sale |  | ​ | 1,259,137 | ​ |  | — | ​ |  | 1,254,955 | ​ |  | 4,182 |  | ​ | 1,259,137
Restricted stock |  | ​ | 15,364 | ​ |  | n/a |  | ​ | n/a |  | ​ | n/a |  | ​ | n/a
Loans, net |  | ​ | 3,128,054 | ​ |  | — | ​ |  | — | ​ |  | 3,025,621 |  | ​ | 3,025,621
Accrued interest receivable |  | ​ | 24,877 | ​ |  | — | ​ |  | 6,755 | ​ |  | 18,122 |  | ​ | 24,877
Deposits |  | ​ | (4,090,068) | ​ |  | — | ​ |  | (4,094,552) | ​ |  | — |  | ​ | (4,094,552)
Short-term borrowings |  | ​ | (67,221) | ​ |  | — | ​ |  | (67,221) | ​ |  | — |  | ​ | (67,221)
Other borrowings |  | ​ | (108,577) | ​ |  | — | ​ |  | (108,496) | ​ |  | — |  | ​ | (108,496)
Accrued interest payable |  | ​ | (2,588) | ​ |  | — | ​ |  | (2,588) | ​ |  | — |  | ​ | (2,588)
​

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- Definition Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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