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Fair Value Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | ​ The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Quoted Prices in |  | Significant |  | Significant
​ | ​ | ​ | ​ | ​ | Active Markets | ​ | Other | ​ | Other
​ | ​ | ​ | ​ | ​ | for Identical | ​ | Observable | ​ | Unobservable
​ | ​ | ​ | ​ | ​ | Assets | ​ | Inputs | ​ | Inputs
Description | ​ | Fair Value | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3)
September 30, 2024: |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities available-for-sale: |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury | ​ | $ | 77,911 | ​ | $ | — | ​ | $ | 77,911 | ​ | $ | —
U.S. Government-sponsored enterprises (GSEs) | ​ | ​ | 42,566 | ​ | ​ | — | ​ | ​ | 42,566 | ​ | ​ | —
Municipal securities | ​ |  | 18,097 | ​ |  | — | ​ |  | 18,097 | ​ |  | —
Other debt securities | ​ |  | 40,232 | ​ |  | — | ​ |  | 40,232 | ​ |  | —
Mortgage-backed securities (GSEs) | ​ |  | 322,530 | ​ |  | — | ​ |  | 322,530 | ​ |  | —
Total securities available-for-sale | ​ | ​ | 501,336 | ​ | ​ | — | ​ | ​ | 501,336 | ​ | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments and interest rate swap agreements | ​ | ​ | 12,387 | ​ | ​ | — | ​ | ​ | 12,387 | ​ | ​ | —
Total assets at fair value | ​ | $ | 513,723 | ​ | $ | — | ​ | $ | 513,723 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments and interest rate swap agreements | ​ | $ | 14,023 | ​ | $ | — | ​ | $ | 14,023 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2023: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities available-for-sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Treasury | ​ | $ | 76,033 | ​ | $ | — | ​ | $ | 76,033 | ​ | $ | —
U.S. Government-sponsored enterprises (GSEs) | ​ | ​ | 48,093 | ​ | ​ | — | ​ | ​ | 48,093 | ​ | ​ | —
Municipal securities | ​ |  | 18,276 | ​ |  | — | ​ |  | 18,276 | ​ |  | —
Other debt securities | ​ |  | 33,069 | ​ |  | — | ​ |  | 33,069 | ​ |  | —
Mortgage-backed securities (GSEs) | ​ |  | 232,939 | ​ |  | — | ​ |  | 232,939 | ​ |  | —
Total securities available-for-sale | ​ | ​ | 408,410 | ​ | ​ | — | ​ | ​ | 408,410 | ​ | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments and interest rate swap agreements | ​ | ​ | 12,821 | ​ | ​ | — | ​ | ​ | 12,821 | ​ | ​ | —
Total assets at fair value | ​ | $ | 421,231 | ​ | $ | — | ​ | $ | 421,231 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Derivative financial instruments and interest rate swap agreements | ​ | $ | 14,807 | ​ | $ | — | ​ | $ | 14,807 | ​ | $ | —
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | Quoted Prices in |  | Significant |  | Significant
​ | ​ | ​ | ​ | ​ | Active Markets | ​ | Other | ​ | Other
​ | ​ | ​ | ​ | ​ | for Identical | ​ | Observable | ​ | Unobservable
​ | ​ | ​ | ​ | ​ | Assets | ​ | Inputs | ​ | Inputs
​ | ​ | Fair Value | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3)
September 30, 2024: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Collateral-dependent loans | ​ | $ | 656 | ​ | $ | — | ​ | $ | — | ​ | $ | 656
Other real estate owned | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2023: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Collateral-dependent loans | ​ | $ | 1,295 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,295
Other real estate owned | ​ |  | 279 | ​ |  | — | ​ |  | — | ​ |  | 279
​
Fair Value Measurement Inputs and Valuation Techniques | ​ For Level 3 assets measured at fair value on a non-recurring basis, the significant unobservable inputs used in the fair value measurements are presented below (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ |  | ​ |  | Weighted | ​
​ | ​ | ​ | ​ | ​ | Valuation | ​ | Significant Other | ​ | Average of | ​
​ | ​ | Fair Value | ​ | Technique | ​ | Unobservable Input | ​ | Input | ​
September 30, 2024: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateral-dependent loans | ​ | $ | 656 |  | Appraisal |  | Appraisal discounts |  | 79 | %
Other real estate owned | ​ |  | — |  | Appraisal |  | Appraisal discounts |  | — | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2023: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateral-dependent loans | ​ | $ | 1,295 |  | Appraisal |  | Appraisal discounts |  | 73 | %
Other real estate owned | ​ |  | 279 |  | Appraisal |  | Appraisal discounts |  | 33 | %
Fair Value, by Balance Sheet Grouping | The carrying amount and estimated fair value of the Company’s financial instruments are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements Using
​ |  | Carrying |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Estimated
​ | ​ | Amount | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Fair Value
September 30, 2024: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 192,914 |  | $ | 192,914 |  | $ | — |  | $ | — | ​ | $ | 192,914
Securities available-for-sale | ​ |  | 501,336 |  | ​ | — |  | ​ | 501,336 |  | ​ | — | ​ |  | 501,336
Securities held-to-maturity | ​ | ​ | 127,779 | ​ | ​ | — | ​ | ​ | 113,267 | ​ | ​ | — | ​ | ​ | 113,267
Other investments | ​ |  | 20,352 |  | ​ | N/A |  | ​ | N/A |  | ​ | N/A | ​ |  | N/A
Loans and leases, net and loans held for sale | ​ |  | 3,687,673 |  | ​ | — |  | ​ | — |  | ​ | 3,564,572 | ​ |  | 3,564,572
Derivative financial instruments and interest rate swap agreements | ​ | ​ | 12,387 | ​ | ​ | — | ​ | ​ | 12,387 | ​ | ​ | — | ​ | ​ | 12,387
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  | ​ |  | ​ |  |  | ​ |  |  | ​ |  | ​ |  |
Noninterest-bearing demand deposits | ​ |  | 863,949 |  | ​ | — |  | ​ | 863,949 |  | ​ | — | ​ |  | 863,949
Interest-bearing demand deposits | ​ |  | 834,207 |  | ​ | — |  | ​ | 834,207 |  | ​ | — | ​ |  | 834,207
Money market and savings deposits | ​ |  | 1,854,777 |  | ​ | — |  | ​ | 1,854,777 |  | ​ | — | ​ |  | 1,854,777
Time deposits | ​ |  | 769,558 |  | ​ | — |  | ​ | 769,621 |  | ​ | — | ​ |  | 769,621
Borrowings | ​ | ​ | 8,997 | ​ | ​ | — | ​ | ​ | 8,997 | ​ | ​ | — | ​ | ​ | 8,997
Subordinated debt | ​ |  | 39,663 |  | ​ | — |  | ​ | — |  | ​ | 37,860 | ​ |  | 37,860
Derivative financial instruments and interest rate swap agreements | ​ |  | 14,023 |  | ​ | — |  | ​ | 14,023 |  | ​ | — | ​ |  | 14,023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2023: |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 352,271 |  | $ | 352,271 |  | $ | — |  | $ | — | ​ | $ | 352,271
Securities available-for-sale | ​ |  | 408,410 |  | ​ | — |  | ​ | 408,410 |  | ​ | — | ​ |  | 408,410
Securities held-to-maturity | ​ | ​ | 281,236 | ​ | ​ | — | ​ | ​ | 262,538 | ​ | ​ | ​ | ​ | ​ | 262,538
Other investments | ​ |  | 13,662 |  | ​ | N/A |  | ​ | N/A |  | ​ | N/A | ​ |  | N/A
Loans and leases, net and loans held for sale | ​ |  | 3,413,814 |  | ​ | — |  | ​ | — |  | ​ | 3,308,980 | ​ |  | 3,308,980
Derivative financial instruments and interest rate swap agreements | ​ | ​ | 12,821 | ​ | ​ | — | ​ | ​ | 12,821 | ​ | ​ | — | ​ | ​ | 12,821
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  | ​ |  | ​ |  |  | ​ |  |  | ​ |  | ​ |  |
Noninterest-bearing demand deposits | ​ |  | 898,044 |  | ​ | — |  | ​ | 898,044 |  | ​ | — | ​ |  | 898,044
Interest-bearing demand deposits | ​ |  | 1,006,915 |  | ​ | — |  | ​ | 1,006,915 |  | ​ | — | ​ |  | 1,006,915
Money market and savings deposits | ​ |  | 1,812,427 |  | ​ | — |  | ​ | 1,812,427 |  | ​ | — | ​ |  | 1,812,427
Time deposits | ​ |  | 550,468 |  | ​ | — |  | ​ | 548,397 |  | ​ | — | ​ |  | 548,397
Borrowings | ​ | ​ | 13,078 | ​ | ​ | — | ​ | ​ | 13,078 | ​ | ​ | — | ​ | ​ | 13,078
Subordinated debt | ​ |  | 42,099 |  | ​ | — |  | ​ | — |  | ​ | 39,822 | ​ |  | 39,822
Derivative financial instruments and interest rate swap agreements | ​ |  | 14,807 |  | ​ | — |  | ​ | 14,807 |  | ​ | — | ​ |  | 14,807
​

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- 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 + Details
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- Definition 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 + Details
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- Definition 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 + Details
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