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FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Summary of Assets Measured at Fair Value on Recurring Basis

The following table summarizes assets and liabilities measured at fair value on a recurring basis at March 31, 2025 and December 31, 2024:

			Level 1						Level 2						Level 3						Total Fair Value Measurements
March 31, 2025
Financial Assets
Investment securities:
U.S. Treasury securities			$	18,417					$	—					$	—					$	18,417
U.S. Government Agencies			—						2,800						—						2,800
States and political subdivisions			—						191,449						5,657						197,106
GSE residential MBSs			—						158,988						—						158,988
GSE commercial MBSs			—						7,497						—						7,497
GSE residential CMOs			—						351,407						—						351,407
Non-agency CMOs			—						20,908						10,608						31,516
Asset-backed			—						85,544						—						85,544
Corporate bonds			—						1,974						—						1,974
Other			207						—						—						207
Loans held for sale			—						5,261						—						5,261
Derivatives			—						13,192						113						13,305
Totals			$	18,624					$	839,020					$	16,378					$	874,022
Financial Liabilities
Derivatives			$	—					$	13,248					$	—					$	13,248
December 31, 2024
Financial Assets
Investment securities:
U.S. Treasury securities			$	18,063					$	—					$	—					$	18,063
U.S. Government Agencies			—						3,053						—						3,053
States and political subdivisions			—						193,756						6,272						200,028
GSE residential MBSs			—						151,548						—						151,548
GSE commercial MBSs			—						8,792						—						8,792
GSE residential CMOs			—						324,692						—						324,692
Non-agency CMOs			—						22,636						10,648						33,284
Asset-backed			—						88,103						—						88,103
Corporate bonds			—						1,954						—						1,954
Other			194						—						—						194
Loans held for sale			—						6,614						—						6,614
Derivatives			—						13,431						20						13,451
Totals			$	18,257					$	814,579					$	16,940					$	849,776
Financial Liabilities
Derivatives			$	—					$	12,575					$	—					$	12,575

Level 3 Fair Value Measurement Activity

The following provides details of the Level 3 fair value measurement activity for the periods ended March 31, 2025 and 2024:

Investment securities:

									Three Months Ended March 31,
															2025						2024
Balance, beginning of period															$	16,920					$	27,853
Unrealized (losses) gains included in OCI															(539)						96
Net discount accretion															13						17
Principal payments and other															(129)						(125)
Calls															—						(10,107)
Balance, end of period															$	16,265					$	17,734

Interest rate lock commitments on residential mortgages:

									Three Months Ended March 31,
															2025						2024
Balance, beginning of period															$	20					$	55
Total gains included in earnings															93						1
Balance, end of period															$	113					$	56

Summary of Assets Measured at Fair Value on Nonrecurring Basis

The following table summarizes assets measured at fair value on a nonrecurring basis at March 31, 2025 and December 31, 2024:

			Level 1						Level 2						Level 3						Total Fair Value Measurements
March 31, 2025
Individually Evaluated Loans
Commercial real estate:
Owner occupied			$	—					$	—					$	973					$	973
Non-owner occupied residential			—						—						39						39
Acquisition and development:
Commercial and land development			—						—						832						832
Commercial and industrial			—						—						1,398						1,398
Residential mortgage:
First lien			—						—						227						227
Home equity - lines of credit			—						—						20						20
Total individually evaluated loans			$	—					$	—					$	3,489					$	3,489
December 31, 2024
Individually Evaluated Loans
Commercial real estate:
Owner occupied			$	—					$	—					$	997					$	997
Non-owner occupied residential			—						—						43						43
Acquisition and development:
Commercial and land development			—						—						932						932
Commercial and industrial			—						—						3,995						3,995
Residential mortgage:
First lien			—						—						213						213
Home equity - term			—						—						44						44
Home equity - lines of credit			—						—						25						25
Installment and other loans			—						—						3						3
Total individually evaluated loans			$	—					$	—					$	6,252					$	6,252

Summary of Additional Qualitative Information

The following table presents additional qualitative information about assets measured on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value:

Fair Value Estimate

Valuation Techniques

Unobservable Input (1)

Range

March 31, 2025

Individually evaluated loans

$

3,489

Appraisal of collateral

Management adjustments on appraisals for property type and recent activity

10.00% - 84.00% discount

- Management adjustments for liquidation expenses

1.50% - 98.78% discount

December 31, 2024

Individually evaluated loans

$

6,252

Appraisal of collateral

Management adjustments on appraisals for property type and recent activity

10.00% - 84.00% discount

- Management adjustments for liquidation expenses

5.81% - 16.07% discount

(1) Discount rates can vary due to factors such as costs that may be assumed by the Bank to liquidate the property in addition to adjustments to the appraised value of the collateral securing the loan. Adjustments may be applied to valuations deemed deficient to ensure the fair value is reasonable.

Carrying Amounts and Estimated Fair Values of Financial Instruments

The following table presents carrying amounts and estimated fair values of the financial assets and liabilities at March 31, 2025 and December 31, 2024:

			Carrying Amount						Fair Value						Level 1						Level 2						Level 3
March 31, 2025
Financial Assets
Cash and due from banks			$	64,376					$	64,376					$	64,376					$	—					$	—
Interest-bearing deposits with banks			222,744						222,744						222,744						—						—
Restricted investments in bank stock			19,693						n/a						n/a						n/a						n/a
Investment securities			855,456						855,456						18,624						820,567						16,265
Loans held for sale			5,261						5,261						—						5,261						—
Loans, net of allowance for credit losses			3,828,181						3,755,398						—						—						3,755,398
Derivatives			13,305						13,305						—						13,192						113
Accrued interest receivable			19,893						19,893						—						4,933						14,960
Financial Liabilities
Deposits			4,633,716						4,632,002						—						4,632,002						—
Securities sold under agreements to repurchase and federal funds purchased			23,131						23,131						—						23,131						—
FHLB advances and other borrowings			100,349						100,075						—						100,075						—
Subordinated notes and trust preferred debt			68,850						69,144						—						69,144						—
Derivatives			13,248						13,248						—						13,248						—
Accrued interest payable			3,039						3,039						—						3,039						—
Off-balance sheet instruments			—						—						—						—						—
December 31, 2024
Financial Assets
Cash and due from banks			$	51,026					$	51,026					$	51,026					$	—					$	—
Interest-bearing deposits with banks			197,848						197,848						197,848						—						—
Restricted investments in bank stock			20,232						n/a						n/a						n/a						n/a
Investment securities			829,711						829,711						18,257						794,534						16,920
Loans held for sale			6,614						6,614						—						6,614						—
Loans, net of allowance for loan losses			3,882,525						3,783,097						—						—						3,783,097
Derivatives			13,451						13,451						—						13,431						20
Accrued interest receivable			21,058						21,058						—						5,361						15,697
Financial Liabilities
Deposits			4,623,096						4,621,081						—						4,621,081						—
Securities sold under agreements to repurchase			25,863						25,863						—						25,863						—
FHLB advances and other borrowings			115,364						114,851						—						114,851						—
Subordinated notes and trust preferred debt			68,680						67,597						—						67,597						—
Derivatives			12,575						12,575						—						12,575						—
Accrued interest payable			2,924						2,924						—						2,924						—
Off-balance sheet instruments			—						—						—						—						—

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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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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.

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