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Fair value estimates (Tables)

3 Months Ended

Mar. 31, 2025

Fair value estimates

Schedule of assets and liabilities measured at fair value on a recurring basis


		At March 31, 2025
		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
(Dollars in thousands)		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	157,674		$	157,674		$			$
State and municipals:
Taxable			65,563						65,563
Tax-exempt			65,129						65,129
Residential mortgage-backed securities:
U.S. government agencies			1,411						1,411
U.S. government-sponsored enterprises			125,872						125,872
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises			1,875						1,875
Private collateralized mortgage obligations			34,802						34,802
Asset backed securities			20,786						20,786
Corporate debt securities			29,217						24,427			4,790
Negotiable certificates of deposit			714						714
Common equity securities			2,501			2,501
Total investment securities		$	505,544		$	160,175		$	340,579		$	4,790
Interest rate swap-other assets		$	17,744					$	17,744
Interest rate swap-other liabilities		$	(17,421)					$	(17,421)


		At December 31, 2024
		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
(Dollars in thousands)		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	167,551		$	167,551		$			$
State and municipals:
Taxable			68,899						68,899
Tax-exempt			66,117						66,117
Residential mortgage-backed securities:
U.S. government agencies			1,376						1,376
U.S. government-sponsored enterprises			126,376						126,376
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises			1,856						1,856
Private collateralized mortgage obligations			38,572						38,572
Asset backed securities			23,252						23,252
Corporate debt securities			31,621						26,999			4,622
Negotiable certificates of deposit			709						709
Common equity securities			2,430			2,430
Total investment securities		$	528,759		$	169,981		$	354,156		$	4,622
Interest rate swap-other assets		$	20,537					$	20,537
Interest rate swap-other liabilities		$	(20,151)					$	(20,151)

Schedule of assets and liabilities measured at fair value on a nonrecurring basis


		March 31, 2025
		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
(Dollars in thousands)		Amount			(Level 1)			(Level 2)			(Level 3)
Loans individually evaluated for credit loss		$	22,848		$			$			$	22,848
Other real estate owned		$	738		$			$			$	738


		December 31, 2024
		Fair Value Measurement Using
					Quoted Prices in			Significant Other			Significant
					Active Markets for			Observable			Unobservable
					Identical Assets			Inputs			Inputs
(Dollars in thousands)		Amount			(Level 1)			(Level 2)			(Level 3)
Loans individually evaluated for credit loss		$	22,164		$			$			$	22,164
Other real estate owned		$	738		$			$			$	738

Schedule of additional quantitative information about assets measured at fair value on a nonrecurring basis


		March 31, 2025
		Quantitative Information about Level 3 Fair Value Measurements
		Fair Value							Range
(Dollars in thousands, except percents)		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Loans individually evaluated for credit loss		$	22,848		Appraisal of collateral		Appraisal adjustments		0.0% to 97.0% (77.7)%
							Liquidation expenses		0.0% to 6.0% (5.6)%
Other real estate owned		$	738		Appraisal of collateral		Appraisal adjustments		0.0% to 10.0% (9.7)%
							Liquidation expenses		3.0% to 6.0% (5.0)%


		December 31, 2024
		Quantitative Information about Level 3 Fair Value Measurements
		Fair Value							Range
(Dollars in thousands, except percents)		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Loans individually evaluated for credit loss		$	22,164		Appraisal of collateral		Appraisal adjustments		3.0% to 111.9% (59.6)%
							Liquidation expenses		0.0% to 6.0% (5.6)%
Other real estate owned		$	738		Appraisal of collateral		Appraisal adjustments		0.0% to 10.0% (9.7)%
							Liquidation expenses		3.0% to 6.0% (5.0)%

Schedule of carrying and fair values of financial instruments


								March 31, 2025
								Fair Value Hierarchy
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
(Dollars in thousands)		Value			Value			(Level 1)			(Level 2)			(Level 3)
Financial assets:
Cash and due from banks		$	77,102		$	77,102		$	77,102		$			$
Investment securities:
Available for sale			503,043			503,043			157,674			340,579			4,790
Held to maturity			76,689			64,775						64,775
Common equity securities			2,501			2,501			2,501
Loans held for sale			420			420						420
Net loans			3,950,485			3,858,436									3,858,436
Accrued interest receivable			16,436			16,436						16,436
Mortgage servicing rights			1,260			2,236						2,236
Restricted equity securities (FHLB and other)			9,276			9,276						9,276
Other assets - interest rate swaps			17,744			17,744						17,744
Total		$	4,654,956		$	4,551,969
Financial liabilities:
Deposits		$	4,316,927		$	4,313,430		$			$	4,313,430		$
Short-term borrowings			14,840			14,840						14,840
Long-term debt			88,403			89,003						89,003
Subordinated debt			33,000			32,822						32,822
Junior subordinated debt			8,063			8,271						8,271
Accrued interest payable			5,439			5,439						5,439
Other liabilities - interest rate swaps			17,421			17,421						17,421
Total		$	4,484,093		$	4,481,226


								December 31, 2024
								Fair Value Hierarchy
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
(Dollars in thousands)		Value			Value			(Level 1)			(Level 2)			(Level 3)
Financial assets:
Cash and due from banks		$	135,851		$	135,851		$	135,851		$			$
Investment securities:
Available for sale			526,329			526,329			167,551			354,156			4,622
Held to maturity			78,184			65,152						65,152
Common equity securities			2,430			2,430			2,430
Loans held for sale
Net loans			3,951,729			3,830,062									3,830,062
Accrued interest receivable			15,632			15,632						15,632
Mortgage servicing rights			1,304			2,314						2,314
Restricted equity securities (FHLB and other)			10,220			10,220						10,220
Other assets - interest rate swaps			20,537			20,537						20,537
Total		$	4,742,216		$	4,608,527
Financial liabilities:
Deposits		$	4,407,552		$	4,404,117		$			$	4,404,117		$
Short-term borrowings			15,900			15,900						15,900
Long-term debt			98,637			98,875						98,875
Subordinated debt			33,000			32,506						32,506
Junior subordinated debt			8,039			8,167						8,167
Accrued interest payable			5,503			5,503						5,503
Other liabilities - interest rate swaps			20,151			20,151						20,151
Total		$	4,588,782		$	4,585,219