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Fair value estimates (Tables)

6 Months Ended

Jun. 30, 2025

Fair value estimates

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


		At June 30, 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		$	145,181		$	145,181		$			$
State and municipals:
Taxable			62,452						62,452
Tax-exempt			68,252						68,252
Residential mortgage-backed securities:
U.S. government agencies			10,202						10,202
U.S. government-sponsored enterprises			134,728						134,728
Commercial mortgage-backed securities:
U.S. government-sponsored enterprises			1,880						1,880
Private collateralized mortgage obligations			37,435						37,435
Asset backed securities			19,890						19,890
Corporate debt securities			24,441						22,518			1,923
Negotiable certificates of deposit			720						720
Common equity securities			2,494			2,494
Total investment securities		$	507,675		$	147,675		$	358,077		$	1,923
Interest rate swap-other assets		$	16,325					$	16,325
Interest rate swap-other liabilities		$	(16,051)					$	(16,051)


		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


		June 30, 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		$	16,785		$			$			$	16,785
Other real estate owned		$	711		$			$			$	711


		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


		June 30, 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		$	16,785		Appraisal of collateral		Appraisal adjustments		2.6% to 98.2% (71.5)%
							Liquidation expenses		3.0% to 6.0% (5.6)%
Other real estate owned		$	711		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


								June 30, 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		$	175,739		$	175,739		$	175,739		$			$
Investment securities:
Available for sale			505,181			505,181			145,181			358,077			1,923
Held to maturity			75,137			64,253						64,253
Common equity securities			2,494			2,494			2,494
Loans held for sale			547			547						547
Net loans			3,956,635			3,889,102									3,889,102
Accrued interest receivable			15,854			15,854						15,854
Mortgage servicing rights			1,218			2,161						2,161
Restricted equity securities (FHLB and other)			11,711			11,711						11,711
Other assets - interest rate swaps			16,325			16,325						16,325
Total		$	4,760,841		$	4,683,367
Financial liabilities:
Deposits		$	4,287,349		$	4,283,514		$			$	4,283,514		$
Short-term borrowings			76,340			76,220						76,220
Long-term debt			103,449			104,334						104,334
Subordinated debt			83,164			83,417						83,417
Junior subordinated debt			8,088			9,037						9,037
Accrued interest payable			4,640			4,640						4,640
Other liabilities - interest rate swaps			16,051			16,051						16,051
Total		$	4,579,081		$	4,577,213


								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