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FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
FAIR VALUES OF FINANCIAL INSTRUMENTS |
Schedule of assets and liabilities measured at fair value | The fair value of derivatives is based on valuation models using observable market data as of the measurement date (Level 2 inputs). ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 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 | ​ | $ | — | ​ | $ | 78,982 | ​ | $ | — | ​ | $ | 78,982
Mortgage Backed Securities-residential | ​ |  | — | ​ |  | 541,320 | ​ |  | — | ​ |  | 541,320
Mortgage Backed Securities-commercial | ​ |  | — | ​ |  | 13,661 | ​ |  | — | ​ |  | 13,661
Collateralized mortgage obligations | ​ |  | — | ​ |  | 163,026 | ​ |  | — | ​ |  | 163,026
State and municipal | ​ |  | — | ​ |  | 359,523 | ​ |  | 805 | ​ |  | 360,328
Municipal taxable | ​ |  | — | ​ |  | 35,777 | ​ |  | — | ​ |  | 35,777
U.S. Treasury | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Collateralized debt obligations | ​ |  | — | ​ |  | — | ​ |  | 2,896 | ​ |  | 2,896
TOTAL | ​ | $ | — | ​ | $ | 1,192,289 | ​ | $ | 3,701 | ​ | $ | 1,195,990
Derivative Assets | ​ | ​ | ​ | ​ | ​ | 3,060 | ​ |  |  | ​ |  |
Derivative Liabilities | ​ | ​ | ​ | ​ |  | (3,060) | ​ |  |  | ​ |  |
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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 financial instruments having fair value measurements using significant unobservable inputs (Level 3) | ​ The table below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the twelve months ended December 31, 2024 and 2023. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
​ | ​ | Year Ended
​ | ​ | December 31, 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 | ​ |  | — | ​ |  | (106) | ​ |  | (106)
Transfers | ​ |  | — | ​ |  | — | ​ |  | —
Settlements | ​ |  | (375) | ​ |  | — | ​ |  | (375)
Ending balance, December 31 | ​ | $ | 805 | ​ | $ | 2,896 | ​ | $ | 3,701
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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 tables present quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31, 2024 and 2023. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(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 | ​ | $ | 2,896 |  | Discounted cash flow |  | Discount rate |  | 6.62 | %
Collateral dependent loans | ​ | $ | 3,099 |  | Discounted cash flow |  | Discount rate for age of appraisal and market conditions |  | 20.00%-100.00 | %
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(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 | The carrying amount and estimated fair value of financial assets and liabilities are presented in the tables below and were determined based on the above assumptions: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2024
​ | ​ | Carrying | ​ | Fair Value
(Dollar amounts in thousands) |  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash and due from banks | ​ | $ | 93,526 | ​ | $ | 35,889 | ​ | $ | 57,637 | ​ | $ | — | ​ | $ | 93,526
Federal funds sold | ​ | ​ | 820 | ​ | ​ | — | ​ | ​ | 820 | ​ | ​ | — | ​ | ​ | 820
Securities available-for-sale | ​ |  | 1,195,990 | ​ |  | — | ​ |  | 1,192,289 | ​ |  | 3,701 | ​ |  | 1,195,990
Restricted stock | ​ |  | 17,555 | ​ |  | n/a |  | ​ | n/a |  | ​ | n/a |  | ​ | n/a
Loans, net | ​ |  | 3,790,409 | ​ |  | — | ​ |  | — | ​ |  | 3,717,843 | ​ |  | 3,717,843
Accrued interest receivable | ​ |  | 26,934 | ​ |  | — | ​ |  | 6,543 | ​ |  | 20,391 | ​ |  | 26,934
Deposits | ​ |  | (4,718,914) | ​ |  | — | ​ |  | (4,723,356) | ​ |  | — | ​ |  | (4,723,356)
Short-term borrowings | ​ |  | (187,057) | ​ |  | — | ​ |  | (187,057) | ​ |  | — | ​ |  | (187,057)
Other borrowings | ​ |  | (28,120) | ​ |  | — | ​ |  | (29,693) | ​ |  | — | ​ |  | (29,693)
Accrued interest payable | ​ |  | (3,799) | ​ |  | — | ​ |  | (3,799) | ​ |  | — | ​ |  | (3,799)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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 the fair value measurement of assets and liabilities 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 liabilities) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets and liabilities) are reported in the statement of income (or activities); (2) purchases, sales, issuances, 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 and liability. + References No definition available. + Details
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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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