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CAPITAL RATIOS AND SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2025

CAPITAL RATIOS AND SHAREHOLDERS' EQUITY

Schedule of Actual and Required Capital Ratios


		September 30, 2025
								Minimum Required for							Minimum Required to
		Actual						Capital Adequacy purposes							be Well Capitalized
(in thousands, except ratios)		Amount			Ratio			Amount			Ratio			Amount			Ratio
Company (consolidated)
Total capital to risk-weighted assets		$	487,228		13.05	%		$	298,661		8.00	%		$	N/A		N/A	%
Common equity Tier 1 capital to risk-weighted assets			402,171		10.77				167,997		4.50				N/A		N/A
Tier 1 capital to risk-weighted assets			422,791		11.33				223,995		6.00				N/A		N/A
Tier 1 capital to average assets (leverage ratio)			422,791		9.58				176,606		4.00				N/A		N/A

Bank
Total capital to risk-weighted assets		$	478,136		12.84	%		$	297,937		8.00	%		$	372,421		10.00	%
Common equity Tier 1 capital to risk-weighted assets			442,699		11.89				167,589		4.50				242,073		6.50
Tier 1 capital to risk-weighted assets			442,699		11.89				223,452		6.00				297,936		8.00
Tier 1 capital to average assets (leverage ratio)			442,699		10.04				176,434		4.00				220,542		5.00


		December 31, 2024
								Minimum Required for							Minimum Required to
		Actual						Capital Adequacy purposes							be Well Capitalized
(in thousands, except ratios)		Amount			Ratio			Amount			Ratio			Amount			Ratio
Company (consolidated)
Total capital to risk-weighted assets		$	454,960		13.47	%		$	270,206		8.00	%		$	N/A		N/A	%
Common equity Tier 1 capital to risk-weighted assets			386,548		11.45				151,918		4.50				N/A		N/A
Tier 1 capital to risk-weighted assets			407,168		12.06				202,571		6.00				N/A		N/A
Tier 1 capital to average assets (leverage ratio)			407,168		10.30				158,123		4.00				N/A		N/A

Bank
Total capital to risk-weighted assets		$	452,823		13.44	%		$	269,538		8.00	%		$	336,922		10.00	%
Common equity Tier 1 capital to risk-weighted assets			421,031		12.50				151,571		4.50				218,936		6.50
Tier 1 capital to risk-weighted assets			421,031		12.50				202,095		6.00				269,460		8.00
Tier 1 capital to average assets (leverage ratio)			421,031		10.66				157,985		4.00				197,482		5.00

Schedule of Components of Accumulated Other Comprehensive Income (Loss)


(in thousands)		September 30, 2025			December 31, 2024
Accumulated other comprehensive loss, before tax:
Net unrealized loss on AFS securities, net of reclassifications		$	(46,628)		$	(62,298)
Net unrealized loss on hedging derivatives			(4,575)			(3,368)
Net unrealized loss on post-retirement plans			(1,565)			(1,565)

Income taxes related to items of accumulated other comprehensive loss:
Net unrealized loss on AFS securities, net of reclassifications			11,297			14,557
Net unrealized loss on hedging derivatives			1,094			786
Net unrealized loss on post-retirement plans			352			352
Accumulated other comprehensive loss		$	(40,025)		$	(51,536)

Schedule of Components of Other Comprehensive Income (Loss)


(in thousands)		Before Tax			Tax Effect			Net of Tax
Three Months Ended September 30, 2025
Net unrealized gain (loss) on AFS securities, net of reclassifications:
Net unrealized gain (loss) arising during the period		$	9,718		$	(2,165)		$	7,553
Less: reclassification adjustment for gains (losses) realized in net income			241			(59)			182
Net unrealized gain (loss) on AFS securities			9,477			(2,106)			7,371

Net unrealized gain (loss) on hedging derivatives:
Net unrealized gain (loss) arising during the period			1,852			(439)			1,413
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on cash flow hedging derivatives			1,852			(439)			1,413

Net unrealized gain (loss) on post-retirement plans:
Net unrealized gain (loss) arising during the period			—			—			—
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on post-retirement plans			—			—			—
Other comprehensive income (loss)		$	11,329		$	(2,545)		$	8,784

Three Months Ended September 30, 2024
Net unrealized gain (loss) on AFS securities, net of reclassifications:
Net unrealized gain (loss) arising during the period		$	16,147		$	(3,808)		$	12,339
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on AFS securities			16,147			(3,808)			12,339

Net unrealized gain (loss) on hedging derivatives:
Net unrealized gain (loss) arising during the period			82			(19)			63
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on cash flow hedging derivatives			82			(19)			63

Net unrealized gain (loss) on post-retirement plans:
Net unrealized gain (loss) arising during the period			—			—			—
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on post-retirement plans			—			—			—
Other comprehensive income (loss)		$	16,229		$	(3,827)		$	12,402



(in thousands)		Before Tax			Tax Effect			Net of Tax
Nine Months Ended September 30, 2025
Net unrealized gain (loss) on AFS securities:
Net unrealized gain (loss) arising during the period		$	12,711		$	(2,531)		$	10,180
Less: reclassification adjustment for gains (losses) realized in net income			(2,959)			729			(2,230)
Net unrealized gain (loss) on AFS securities			15,670			(3,260)			12,410

Net unrealized gain (loss) on hedging derivatives:
Net unrealized gain (loss) arising during the period			(1,207)			308			(899)

Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on hedging derivatives			(1,207)			308			(899)

Net unrealized gain (loss) on post-retirement plans:
Net unrealized gain (loss) arising during the period			—			—			—
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on post-retirement plans			—			—			—
Other comprehensive income (loss)		$	14,463		$	(2,952)		$	11,511

Nine Months Ended September 30, 2024
Net unrealized gain (loss) on AFS securities:
Net unrealized gain (loss) arising during the period		$	10,093		$	(2,380)		$	7,713
Less: reclassification adjustment for gains (losses) realized in net income			50			(12)			38
Net unrealized gain (loss) on AFS securities			10,043			(2,368)			7,675

Net unrealized gain (loss) on hedging derivatives:
Net unrealized gain (loss) arising during the period			(1,167)			275			(892)
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on hedging derivatives			(1,167)			275			(892)

Net unrealized gain (loss) on post-retirement plans:
Net unrealized gain (loss) arising during the period			22			(28)			(6)
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on post-retirement plans			22			(28)			(6)
Other comprehensive income (loss)		$	8,898		$	(2,121)		$	6,777

Schedule of Changes in Components of Accumulated Other Comprehensive Income (Loss)



		Net unrealized			Net unrealized			Net unrealized
		gain (loss)			gain (loss)			loss
		on AFS			on hedging			on pension
(in thousands)		Securities			derivatives			plans			Total
Three Months Ended September 30, 2025
Balance at beginning of period		$	(42,702)		$	(4,894)		$	(1,213)		$	(48,809)
Other comprehensive gain (loss) before reclassifications			7,553			1,413			—			8,966
Less: amounts reclassified from accumulated other comprehensive income			182			—			—			182
Total other comprehensive income (loss)			7,371			1,413			—			8,784
Balance at end of period		$	(35,331)		$	(3,481)		$	(1,213)		$	(40,025)

Three Months Ended September 30, 2024
Balance at beginning of period		$	(52,313)		$	(1,965)		$	(1,209)		$	(55,487)
Other comprehensive gain (loss) before reclassifications			12,339			63			—			12,402
Less: amounts reclassified from accumulated other comprehensive income			—			—			—			—
Total other comprehensive income (loss)			12,339			63			—			12,402
Balance at end of period		$	(39,974)		$	(1,902)		$	(1,209)		$	(43,085)

Nine Months Ended September 30, 2025
Balance at beginning of period		$	(47,741)		$	(2,582)		$	(1,213)		$	(51,536)
Other comprehensive gain (loss) before reclassifications			10,180			(899)			—			9,281
Less: amounts reclassified from accumulated other comprehensive income			(2,230)			—			—			(2,230)
Total other comprehensive income (loss)			12,410			(899)			—			11,511
Balance at end of period		$	(35,331)		$	(3,481)		$	(1,213)		$	(40,025)

Nine Months Ended September 30, 2024
Balance at beginning of period		$	(47,649)		$	(1,010)		$	(1,203)		$	(49,862)
Other comprehensive gain (loss) before reclassifications			7,713			(892)			(6)			6,815
Less: amounts reclassified from accumulated other comprehensive income			38			—			—			38
Total other comprehensive income (loss)			7,675			(892)			(6)			6,777
Balance at end of period		$	(39,974)		$	(1,902)		$	(1,209)		$	(43,085)

Reclassification out of Accumulated Other Comprehensive Income (Loss)


		Three Months Ended September 30,						Nine Months Ended September 30,						Affected Line Item where
(in thousands)		2025			2024			2025			2024			Net Income is Presented
Net realized (losses) gains on AFS securities:
Before tax		$	241		$	—		$	(2,959)		$	50		Non-interest income
Tax effect			(59)			—			729			(12)		Tax expense
Total reclassifications for the period		$	182		$	—		$	(2,230)		$	38