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DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2024

DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of fair value measurements of assets recognized in the accompanying statements of financial condition measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements


					Fair value measurements using
					Quoted prices
					in active
					markets			Other			Significant
					for identical			observable			unobservable
					assets			inputs			inputs
		Fair value			(Level 1)			(Level 2)			(Level 3)

		(In Thousands)
March 31, 2024
Available-for-sale securities
Agency mortgage-backed securities		$	271,252		$	—		$	271,252		$	—
Agency collateralized mortgage obligations			75,307			—			75,307			—
States and political subdivisions securities			56,983			—			56,983			—
Small Business Administration securities			61,766			—			61,766			—
Interest rate derivative asset			9,093			—			9,093			—
Interest rate derivative liability			(30,202)			—			(30,202)			—

December 31, 2023
Available-for-sale securities
Agency mortgage-backed securities		$	280,231		$	—		$	280,231		$	—
Agency collateralized mortgage obligations			75,946			—			75,946			—
States and political subdivisions securities			58,137			—			58,137			—
Small Business Administration securities			63,893			—			63,893			—
Interest rate derivative asset			8,205			—			8,205			—
Interest rate derivative liability			(25,336)			—			(25,336)			—

Schedule of fair value measurements of assets measured at fair value on a nonrecurring basis


					Fair Value Measurements Using
					Quoted prices
					in active
					markets			Other			Significant
					for identical			observable			unobservable
					assets			inputs			inputs
		Fair value			(Level 1)			(Level 2)			(Level 3)

		(In Thousands)
March 31, 2024
Collateral-dependent loans		$	17,059		$	—		$	—		$	17,059

December 31, 2023
Collateral-dependent loans		$	7,372		$	—		$	—		$	7,372

Schedule of estimated fair values of the Company's financial instruments not recorded at fair value on the statements of financial condition


		March 31, 2024									December 31, 2023
		Carrying			Fair			Hierarchy		Carrying			Fair			Hierarchy
		Amount			Value			Level		Amount			Value			Level

		(In Thousands)
Financial assets
Cash and cash equivalents		$	171,447		$	171,447		1		$	211,333		$	211,333		1
Held-to-maturity securities			193,366			167,756		2			195,023			171,193		2
Mortgage loans held for sale			10,905			10,905		2			5,849			5,849		2
Loans, net of allowance for credit losses			4,586,253			4,399,795		3			4,589,620			4,402,314		3
Interest receivable			21,639			21,639		3			21,206			21,206		3
Investment in FHLBank stock and other assets			16,887			16,887		3			26,313			26,313		3

Financial liabilities
Deposits			4,773,397			4,766,200		3			4,721,708			4,714,624		3
Short-term borrowings			254,125			254,125		3			323,453			323,453		3
Subordinated debentures			25,774			25,774		3			25,774			25,774		3
Subordinated notes			74,653			72,188		2			74,579			71,625		2
Interest payable			8,135			8,135		3			6,225			6,225		3

Unrecognized financial instruments (net of contractual value)
Commitments to originate loans			—			—		3			—			—		3
Letters of credit			59			59		3			78			78		3
Lines of credit			—			—		3			—			—		3