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FAIR VALUE MEASUREMENT AND DISCLOSURE (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, for the dates indicated:

(In thousands)						Fair Value						Readily Available Market Prices (Level 1)						Observable Market Data (Level 2)						Company Determined Fair Value (Level 3)
March 31, 2025
Financial assets:
Trading securities						$	4,860					$	4,860					$	—					$	—
AFS debt securities:
Obligations of states and political subdivisions						5,314						—						5,314						—
MBS issued or guaranteed by U.S. government-sponsored enterprises						633,192						—						633,192						—
CMO issued or guaranteed by U.S. government-sponsored enterprises						181,383						—						181,383						—
Subordinated corporate bonds						16,241						—						16,241						—
Loans held for sale						11,059						—						11,059						—
Customer loan swaps						12,890						—						12,890						—
Interest rate contracts						10,127						—						10,127						—
Fixed rate mortgage interest rate lock commitments						84						—						84						—
Forward delivery commitments						148						—						148						—
Financial liabilities:
Deferred compensation						$	4,860					$	4,860					$	—					$	—
Customer loan swaps						12,923						—						12,923						—
Interest rate contracts						1,120						—						1,120						—
Fixed rate mortgage interest rate lock commitments						52						—						52						—
Forward delivery commitments						30						—						30						—
December 31, 2024
Financial assets:
Trading securities						$	5,243					$	5,243					$	—					$	—
AFS debt securities:
Obligations of states and political subdivisions						5,289						—						5,289						—
MBS issued or guaranteed by U.S. government-sponsored enterprises						424,956						—						424,956						—
CMO issued or guaranteed by U.S. government-sponsored enterprises						147,479						—						147,479						—
Subordinated corporate bonds						16,025						—						16,025						—
Loans held for sale						11,049						—						11,049						—
Customer loan swaps						11,717						—						11,717						—
Interest rate contracts						14,040						—						14,040						—
Fixed rate mortgage interest rate lock commitments						65						—						65						—
Forward delivery commitments						203						—						203						—
Financial liabilities:
Deferred compensation						$	5,243					$	5,243					$	—					$	—
Customer loan swaps						11,787						—						11,787						—
Interest rate contracts						232						—						232						—
Fixed rate mortgage interest rate lock commitments						55						—						55						—
Forward delivery commitments						4						—						4						—

Valuation Methodology and Unobservable Inputs for Level Three Assets Measured at Fair Value on Non Recurring Basis

The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis for the dates indicated:

(Dollars in thousands)

Fair Value

Valuation Methodology

Unobservable input

Discount

March 31, 2025

Collateral-dependent loans:

Specifically reserved

$

4,163

Market approach appraisal of collateral

Estimated selling costs

6%

December 31, 2024

Collateral-dependent loans:

Specifically reserved

$

4,363

Market approach appraisal of collateral

Estimated selling costs

15%

Carrying Amounts and Estimated Fair Value for Financial Instrument Assets and Liabilities

The estimated fair values and related carrying amounts for assets and liabilities for which fair value is only disclosed are shown below as of the dates indicated:

(In thousands)						Carrying Amount						Fair Value						Readily Available Market Prices (Level 1)						Observable Market Prices (Level 2)						Company Determined Market Prices (Level 3)
March 31, 2025
Financial assets:
HTM debt securities						$	516,682					$	478,172					$	—					$	478,172					$	—
Commercial real estate loans(1)(2)						2,043,954						1,950,877						—						—						1,950,877
Commercial loans(2)						481,274						465,804						—						—						465,804
Residential real estate loans(2)						2,014,190						1,692,477						—						—						1,692,477
Home equity loans(2)						280,075						273,993						—						—						273,993
Consumer loans(2)						18,870						17,034						—						—						17,034
Bank-owned life insurance(3)						109,340						109,340						—						109,340						—
Servicing assets						2,994						5,046						—						—						5,046
Financial liabilities:
Time deposits						$	778,873					$	774,576					$	—					$	774,576					$	—
Short-term borrowings						567,436						566,987						—						566,987						—
Junior subordinated debentures						61,290						48,758						—						48,758						—
December 31, 2024
Financial assets:
HTM debt securities						$	517,778					$	470,824					$	—					$	470,824					$	—
Commercial real estate loans(1)(2)						1,694,586						1,569,165						—						—						1,569,165
Commercial loans(2)						376,929						365,556						—						—						365,556
Residential real estate loans(2)						1,742,270						1,494,961						—						—						1,494,961
Home equity loans(2)						250,854						241,992						—						—						241,992
Consumer loans(2)						14,892						13,926						—						—						13,926
Bank-owned life insurance(3)						104,308						104,308												104,308						—
Servicing assets						2,119						4,328						—						—						4,328
Financial liabilities:
Time deposits						$	607,245					$	603,469					$	—					$	603,469					$	—
Short-term borrowings						500,621						500,292						—						500,292						—
Junior subordinated debentures						44,331						34,357						—						34,357						—

(1)    Commercial real estate loan includes non-owner-occupied and owner-occupied properties.

(2)    The presented carrying amount is net of the allocated ACL on loans.

(3)    Represents a cash surrender life insurance policy recorded at the amount realized upon surrender of the policy, as a result the carrying amount approximates fair value.

Summary of Assets Measured at Fair Value on Non Recurring Basis

The table below highlights financial and non-financial assets measured and reported at fair value on a non-recurring basis for the dates indicated:

(In thousands)						Fair Value						Readily Available Market Prices (Level 1)						Observable Market Data (Level 2)						Company Determined Fair Value (Level 3)
March 31, 2025
Financial assets:
Collateral-dependent loans						$	4,163					$	—					$	—					$	4,163
December 31, 2024
Financial assets:
Collateral-dependent loans						$	4,363					$	—					$	—					$	4,363

X

- Definition

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).

+ 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

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X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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).

+ 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

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