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Fair Value Disclosures (Tables)
9 Months Ended
Sep. 30, 2025
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, 2025:

 

  

Assets:

 

  

Securities available-for-sale:

 

  

U.S. Treasury

$

29,592

$

$

29,592

$

U.S. Government-sponsored enterprises (GSEs)

19,404

19,404

Municipal securities

 

34,230

 

 

34,230

 

Other debt securities

 

24,931

 

 

24,931

 

Mortgage-backed securities (GSEs)

 

402,938

 

 

402,938

 

Total securities available-for-sale

511,095

511,095

Derivative financial instruments and interest rate swap agreements

13,296

13,296

Total assets at fair value

$

524,391

$

$

524,391

$

Liabilities:

 

  

Derivative financial instruments and interest rate swap agreements

$

13,633

$

$

13,633

$

December 31, 2024:

 

  

 

  

 

  

 

  

Assets:

 

  

 

  

 

  

 

  

Securities available-for-sale:

 

  

 

  

 

  

 

  

U.S. Treasury

$

76,226

$

$

76,226

$

U.S. Government-sponsored enterprises (GSEs)

39,188

39,188

Municipal securities

 

17,690

 

 

17,690

 

Other debt securities

 

39,435

 

 

39,435

 

Mortgage-backed securities (GSEs)

 

309,789

 

 

309,789

 

Total securities available-for-sale

482,328

482,328

Derivative financial instruments and interest rate swap agreements

12,135

12,135

Total assets at fair value

$

494,463

$

$

494,463

$

Liabilities:

 

  

 

  

 

  

 

  

Derivative financial instruments and interest rate swap agreements

$

13,198

$

$

13,198

$

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, 2025:

 

  

 

  

 

  

 

  

Collateral-dependent loans

$

1,840

$

$

$

1,840

December 31, 2024:

 

  

 

  

 

  

 

  

Collateral-dependent loans

$

1,813

$

$

$

1,813

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, 2025:

Collateral-dependent loans

$

1,840

 

Appraisal

 

Appraisal discounts

 

70

%

December 31, 2024:

Collateral-dependent loans

$

1,813

 

Appraisal

 

Appraisal discounts

 

68

%

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, 2025:

Assets:

 

  

 

  

 

  

 

  

 

  

Cash and cash equivalents

$

557,127

 

$

557,127

 

$

 

$

$

557,127

Securities available-for-sale

 

511,095

 

 

511,095

 

 

511,095

Securities held-to-maturity

123,364

109,751

109,751

Other investments

 

14,888

 

N/A

 

N/A

 

N/A

 

N/A

Loans and leases, net and loans held for sale

 

4,193,150

 

 

 

4,129,313

 

4,129,313

Derivative financial instruments and interest rate swap agreements

13,296

13,296

13,296

Liabilities:

 

 

  

 

  

 

  

 

  

Noninterest-bearing demand deposits

 

931,477

 

 

931,477

 

 

931,477

Interest-bearing demand deposits

 

929,454

 

 

929,454

 

 

929,454

Money market and savings deposits

 

2,218,313

 

 

2,218,313

 

 

2,218,313

Time deposits

 

971,653

 

 

973,984

 

 

973,984

Borrowings

1,301

1,301

1,301

Subordinated debt

 

138,604

 

 

 

137,666

 

137,666

Derivative financial instruments and interest rate swap agreements

 

13,633

 

 

13,633

 

 

13,633

December 31, 2024:

    

    

    

    

    

Assets:

 

  

 

  

 

  

 

  

 

  

Cash and cash equivalents

$

387,570

 

$

387,570

 

$

 

$

$

387,570

Securities available-for-sale

 

482,328

 

 

482,328

 

 

482,328

Securities held-to-maturity

126,659

108,080

108,080

Other investments

 

14,740

 

N/A

 

N/A

 

N/A

 

N/A

Loans and leases, net and loans held for sale

 

3,874,913

 

 

 

3,768,452

 

3,768,452

Derivative financial instruments and interest rate swap agreements

12,135

12,135

12,135

Liabilities:

 

 

  

 

  

 

  

 

  

Noninterest-bearing demand deposits

 

965,552

 

 

965,552

 

 

965,552

Interest-bearing demand deposits

 

836,731

 

 

836,731

 

 

836,731

Money market and savings deposits

 

2,039,560

 

 

2,039,560

 

 

2,039,560

Time deposits

 

844,640

 

 

844,694

 

 

844,694

Borrowings

8,135

8,135

8,135

Subordinated debt

 

39,684

 

 

 

38,043

 

38,043

Derivative financial instruments and interest rate swap agreements

 

13,198

 

 

13,198

 

 

13,198