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Fair Values of Financial Instruments | 9 Months Ended
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Sep. 30, 2025
Fair Values of Financial Instruments [Abstract] |
Fair Values of Financial Instruments | Fair Values of Financial Instruments Most of our assets and liabilities are considered financial instruments. Many of these financial instruments lack an available trading market and it is our general practice and intent to hold the majority of our financial instruments to maturity. Significant estimates and assumptions were used to determine the fair value of financial instruments. These estimates are subjective in nature, involving uncertainties and matters of judgment, and therefore, fair values may not be a precise estimate. Changes in assumptions could significantly affect the estimates. Estimated fair values have been determined using available data and methodologies that are considered suitable for each category of financial instrument. For instruments with adjustable interest rates which reprice frequently and without significant credit risk, it is presumed that estimated fair values approximate the recorded book balances. The estimated recorded book balances and fair values follow:
|  |  |  |  | Fair Value Using
| Recorded Book Balance |  | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Un- observable Inputs (Level 3)
| (In thousands)
September 30, 2025 |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 56,378 |  |  | $ | 56,378 |  |  | $ | 56,378 |  |  | $ | — |  |  | $ | — |
Interest bearing deposits | 152,308 |  |  | 152,308 |  |  | 152,308 |  |  | — |  |  | — |
Securities available for sale | 502,583 |  |  | 502,583 |  |  | — |  |  | 502,583 |  |  | — |
Securities held to maturity | 321,450 |  |  | 293,242 |  |  | — |  |  | 293,242 |  |  | — |
Federal Home Loan Bank and Federal |  |  |  |  |  |  |  |  |
Reserve Bank Stock | 18,102 |  |  | NA |  | NA |  | NA |  | NA
Net loans and loans held for sale | 4,147,478 |  |  | 3,991,609 |  |  | — |  |  | 11,654 |  |  | 3,979,955 |
Accrued interest receivable | 19,270 |  |  | 19,270 |  |  | 250 |  |  | 4,863 |  |  | 14,157 |
Derivative financial instruments | 32,106 |  |  | 32,106 |  |  | — |  |  | 32,106 |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |
Deposits with no stated maturity (1) | $ | 3,911,405 |  |  | $ | 3,911,405 |  |  | $ | 3,911,405 |  |  | $ | — |  |  | $ | — |
Deposits with stated maturity (1) | 947,750 |  |  | 946,153 |  |  | — |  |  | 946,153 |  |  | — |
Other borrowings | 2,006 |  |  | 1,673 |  |  | — |  |  | 1,673 |  |  | — |
Subordinated debentures | 39,847 |  |  | 39,585 |  |  | — |  |  | 39,585 |  |  | — |
Accrued interest payable | 3,245 |  |  | 3,245 |  |  | 323 |  |  | 2,922 |  |  | — |
Derivative financial instruments | 20,729 |  |  | 20,729 |  |  | — |  |  | 20,729 |  |  | — |
December 31, 2024 |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 56,984 |  |  | $ | 56,984 |  |  | $ | 56,984 |  |  | $ | — |  |  | $ | — |
Interest bearing deposits | 62,898 |  |  | 62,898 |  |  | 62,898 |  |  | — |  |  | — |
Securities available for sale | 559,182 |  |  | 559,182 |  |  | — |  |  | 559,182 |  |  | — |
Securities held to maturity | 339,436 |  |  | 301,860 |  |  | — |  |  | 301,860 |  |  | — |
Federal Home Loan Bank and Federal |  |  |  |  |  |  |  |  |
Reserve Bank Stock | 16,099 |  |  | NA |  | NA |  | NA |  | NA
Net loans and loans held for sale | 3,987,089 |  |  | 3,772,862 |  |  | — |  |  | 7,643 |  |  | 3,765,219 |
Accrued interest receivable | 19,113 |  |  | 19,113 |  |  | 46 |  |  | 5,606 |  |  | 13,461 |
Derivative financial instruments | 37,059 |  |  | 37,059 |  |  | — |  |  | 37,059 |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |
Deposits with no stated maturity (1) | $ | 3,806,185 |  |  | $ | 3,806,185 |  |  | $ | 3,806,185 |  |  | $ | — |  |  | $ | — |
Deposits with stated maturity (1) | 847,903 |  |  | 845,534 |  |  | — |  |  | 845,534 |  |  | — |
Other borrowings | 45,009 |  |  | 44,996 |  |  | — |  |  | 44,996 |  |  | — |
Subordinated debt | 39,586 |  |  | 40,412 |  |  | — |  |  | 40,412 |  |  | — |
Subordinated debentures | 39,796 |  |  | 40,235 |  |  | — |  |  | 40,235 |  |  | — |
Accrued interest payable | 3,109 |  |  | 3,109 |  |  | 374 |  |  | 2,735 |  |  | — |
Derivative financial instruments | 18,623 |  |  | 18,623 |  |  | — |  |  | 18,623 |  |  | — |
(1) | Deposits with no stated maturity include reciprocal deposits with a recorded book balance of $867.422 million and $797.224 million at September 30, 2025 and December 31, 2024, respectively. Deposits with a stated maturity include reciprocal deposits with a recorded book balance of $113.693 million and $109.807 million at September 30, 2025 and December 31, 2024, respectively.
The fair values for commitments to extend credit and standby letters of credit are estimated to approximate their aggregate book balance, which is nominal and therefore are not disclosed. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale the entire holdings of a particular financial instrument. Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business, the value of future earnings attributable to off-balance sheet activities and the value of assets and liabilities that are not considered financial instruments. Fair value estimates for deposit accounts do not include the value of the core deposit intangible asset resulting from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market.

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- Definition Fair Values of Financial Instruments [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/825/tableOfContent + Details
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