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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Summary of Fair Value Assets and Liabilities Measured on Nonrecurring Basis Valuation Techniques

March 31, 2026

($ in thousands)

Fair Value

Valuation Technique

Unobservable Input

Rate

IRLCs – net asset

$

139

Market approach

Range of pull through rate

79% - 100%

Average pull through rate

92%

December 31, 2025

($ in thousands)

Fair Value

Valuation Technique

Unobservable Input

Rate

IRLCs – net asset

$

90

Market approach

Range of pull through rate

81% - 100%

Average pull through rate

98%

Summary of Derivative Asset at Fair Value

The following table presents activity in the IRLCs – net asset for the three months ended March 31, 2026 and 2025.

						Three Months Ended March 31,
($ in thousands)						2026						2025
Beginning balance						$	90					$	113
Valuation adjustment						49						279
Ending balance						$	139					$	392

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

The following tables present the recorded amounts of assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025. No assets or liabilities were transferred from one hierarchy level to another during the three months ended March 31, 2026 or 2025.

						March 31, 2026
($ in thousands)						Fair Value						Quoted Prices (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Available for sale securities:
U.S. government agency securities						$	20,364					$	—					$	20,364					$	—
Mortgage-backed securities						230,676						—						230,676						—
Other debt securities						12,986						—						12,986						—
Total available for sale securities						264,026						—						264,026						—
Equity securities						6,195						—						6,195						—
TBA forward trades						310						—						310						—
Loans held for sale						24,034						—						24,034						—
IRLCs						147						—						—						147
Total assets at fair value						$	294,712					$	—					$	294,565					$	147
Liabilities:
IRLCs						$	8					$	—					$	—					$	8
TBA forward trades						56						—						56						—
Total liabilities at fair value						$	64					$	—					$	56					$	8

						December 31, 2025
($ in thousands)						Fair Value						Quoted Prices (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Assets:
Available for sale securities:
U.S. government agency securities						$	20,616					$	—					$	20,616					$	—
Mortgage-backed securities						195,027						—						195,027						—
Other debt securities						4,715						—						4,715						—
Total available for sale securities						220,358						—						220,358						—
Equity securities						6,186						—						6,186						—
TBA forward trades						11						—						11						—
Loans held for sale						32,540						—						32,540						—
IRLCs						91						—						—						91
Total assets at fair value						$	259,186					$	—					$	259,095					$	91
Liabilities:
IRLCs						$	1					$	—					$	—					$	1
TBA forward trades						59						—						59						—
Total liabilities at fair value						$	60					$	—					$	59					$	1

Summary of Fair Value of Assets Measured on Nonrecurring Basis

The following tables set forth the Company’s assets subject to fair value adjustments (impairment) on a non-recurring basis as of March 31, 2026 and December 31, 2025 that are valued at the lower of cost or market. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

Quantitative Information about Level 3 Fair Value Measurements

($ in thousands)

Fair Value

Valuation Technique(1)

Unobservable Input(2)

Range

Weighted-Average

March 31, 2026

Non-recurring measurements:

Individually-evaluated collateral dependent loans:

Commercial real estate

$

6,623

Appraisal of collateral

Appraisal adjustment Liquidation expense

70% 10%

70% 10%

Residential real estate

625

Appraisal of collateral

Appraisal adjustment Liquidation expense

50% - 100% 10%

52% 10%

Other real estate owned

69

Appraisal of collateral

Appraisal adjustment

N/A

0%

Repossessed assets

3,344

Appraisal of collateral

Appraisal adjustment

N/A

9%

Quantitative Information about Level 3 Fair Value Measurements

($ in thousands)

Fair Value

Valuation Technique(1)

Unobservable Input(2)

Range

Weighted-Average

December 31, 2025

Nonrecurring measurements:

Individually-evaluated collateral dependent loans:

Commercial real estate

$

19,696

Appraisal of collateral

Appraisal adjustment Liquidation expense

60% - 71% 10%

68% 10%

Residential real estate

520

Appraisal of collateral

Appraisal adjustment Liquidation expense

0% - 1% 10%

1% 10%

Other real estate owned

113

Appraisal of collateral

Appraisal adjustment

N/A

0%

Repossessed assets

2,879

Appraisal of collateral

Appraisal adjustment

N/A

60%

_________________________________

(1)Unobservable inputs were weighted by the relative fair value of the instruments. No range is presented only when one instrument was available.

(2)Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

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Tabular disclosure of activity in the balance of derivative assets.

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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).

+ 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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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 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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