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Fair Value Measurement (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Measurement |
Summary of balances of the assets and liabilities measured at fair value on a recurring basis | The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. There have been no changes in methodologies used as of September 30, 2025. The following tables present the balances of assets and liabilities measured at fair value on a recurring basis as of September 30, 2025 and December 31, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2025
(dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Fair Value of Financial Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury Securities | ​ | $ | 147,199 | ​ | $ | — | ​ | $ | — | ​ | $ | 147,199
Municipal Bonds | ​ | ​ | — | ​ | ​ | 240,547 | ​ | ​ | — | ​ | ​ | 240,547
Mortgage-Backed Securities | ​ | ​ | — | ​ | ​ | 259,149 | ​ | ​ | — | ​ | ​ | 259,149
Corporate Securities | ​ | ​ | — | ​ | ​ | 107,983 | ​ | ​ | — | ​ | ​ | 107,983
U.S. Government Agency Securities | ​ | ​ | — | ​ | ​ | 9,835 | ​ | ​ | — | ​ | ​ | 9,835
Asset-Backed Securities | ​ | ​ | — | ​ | ​ | 61,760 | ​ | ​ | — | ​ | ​ | 61,760
Fair Value Swaps | ​ | ​ | — | ​ | ​ | 7,546 | ​ | ​ | — | ​ | ​ | 7,546
Interest Rate Caps | ​ | ​ | — | ​ | ​ | 13,643 | ​ | ​ | — | ​ | ​ | 13,643
Interest Rate Swaps | ​ | ​ | — | ​ | ​ | 10,463 | ​ | ​ | — | ​ | ​ | 10,463
Total Fair Value of Financial Assets | ​ | $ | 147,199 | ​ | $ | 710,926 | ​ | $ | — | ​ | $ | 858,125
Fair Value of Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair Value Swaps | ​ | $ | — | ​ | $ | 768 | ​ | $ | — | ​ | $ | 768
Interest Rate Swaps | ​ | ​ | — | ​ | ​ | 9,827 | ​ | ​ | — | ​ | ​ | 9,827
Risk Participation Agreement | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 17 | ​ | ​ | 17
Total Fair Value of Financial Liabilities | ​ | $ | — | ​ | $ | 10,595 | ​ | $ | 17 | ​ | $ | 10,612
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024
(dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Fair Value of Financial Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury Securities | ​ | $ | 167,748 | ​ | $ | — | ​ | $ | — | ​ | $ | 167,748
Municipal Bonds | ​ | ​ | — | ​ | ​ | 122,265 | ​ | ​ | — | ​ | ​ | 122,265
Mortgage-Backed Securities | ​ | ​ | — | ​ | ​ | 244,890 | ​ | ​ | — | ​ | ​ | 244,890
Corporate Securities | ​ | ​ | — | ​ | ​ | 134,186 | ​ | ​ | — | ​ | ​ | 134,186
U.S. Government Agency Securities | ​ | ​ | — | ​ | ​ | 22,082 | ​ | ​ | — | ​ | ​ | 22,082
Asset-Backed Securities | ​ | ​ | — | ​ | ​ | 77,076 | ​ | ​ | — | ​ | ​ | 77,076
Fair Value Swaps | ​ | ​ | — | ​ | ​ | 10,487 | ​ | ​ | — | ​ | ​ | 10,487
Interest Rate Caps | ​ | ​ | — | ​ | ​ | 19,319 | ​ | ​ | — | ​ | ​ | 19,319
Interest Rate Swaps | ​ | ​ | — | ​ | ​ | 13,349 | ​ | ​ | — | ​ | ​ | 13,349
Total Fair Value of Financial Assets | ​ | $ | 167,748 | ​ | $ | 643,654 | ​ | $ | — | ​ | $ | 811,402
Fair Value of Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest Rate Swaps | ​ | $ | — | ​ | $ | 8,210 | ​ | $ | — | ​ | $ | 8,210
Total Fair Value of Financial Liabilities | ​ | $ | — | ​ | $ | 8,210 | ​ | $ | — | ​ | $ | 8,210
Summary of net impairment losses related to nonrecurring fair value measurements of certain asset | The following tables present net credit losses related to nonrecurring fair value measurements of certain assets at September 30, 2025 and December 31, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2025
(dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Loss
Individually Evaluated Loans | ​ | $ | — | ​ | $ | — | ​ | $ | 16,222 | ​ | $ | 4,457
Totals | ​ | $ | — | ​ | $ | — | ​ | $ | 16,222 | ​ | $ | 4,457
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024
(dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Loss
Individually Evaluated Loans | ​ | $ | — | ​ | $ | — | ​ | $ | 91 | ​ | $ | 44
Totals | ​ | $ | — | ​ | $ | — | ​ | $ | 91 | ​ | $ | 44
Summary of carrying amount and estimated fair values of financial instruments | The following tables present the carrying amounts and estimated fair values of financial instruments at September 30, 2025 and December 31, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2025
​ | ​ | ​ | ​ | ​ | Fair Value Hierarchy | ​ | ​ | ​
​ | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated
(dollars in thousands) |  | Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
Financial Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and Due From Banks | ​ | $ | 131,818 | ​ | $ | 131,818 | ​ | $ | — | ​ | $ | — | ​ | $ | 131,818
Bank-Owned Certificates of Deposit | ​ | ​ | 3,658 | ​ | ​ | — | ​ | ​ | 3,675 | ​ | ​ | — | ​ | ​ | 3,675
Securities Available for Sale | ​ | ​ | 826,473 | ​ | ​ | 147,199 | ​ | ​ | 679,274 | ​ | ​ | — | ​ | ​ | 826,473
FHLB Stock, at Cost | ​ | ​ | 21,373 | ​ | ​ | — | ​ | ​ | 21,373 | ​ | ​ | — | ​ | ​ | 21,373
Loans, Net | ​ | ​ | 4,149,882 | ​ | ​ | — | ​ | ​ | 4,069,195 | ​ | ​ | 16,222 | ​ | ​ | 4,085,417
Accrued Interest Receivable | ​ | ​ | 19,244 | ​ | ​ | — | ​ | ​ | 19,244 | ​ | ​ | — | ​ | ​ | 19,244
Fair Value Swaps | ​ | ​ | 7,546 | ​ | ​ | — | ​ | ​ | 7,546 | ​ | ​ | — | ​ | ​ | 7,546
Interest Rate Caps | ​ | ​ | 13,643 | ​ | ​ | — | ​ | ​ | 13,643 | ​ | ​ | — | ​ | ​ | 13,643
Interest Rate Swaps | ​ | ​ | 10,463 | ​ | ​ | — | ​ | ​ | 10,463 | ​ | ​ | — | ​ | ​ | 10,463
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ | $ | 4,292,764 | ​ | $ | — | ​ | $ | 4,295,375 | ​ | $ | — | ​ | $ | 4,295,375
FHLB Advances | ​ | ​ | 404,500 | ​ | ​ | — | ​ | ​ | 404,710 | ​ | ​ | — | ​ | ​ | 404,710
Subordinated Debentures | ​ | ​ | 108,588 | ​ | ​ | — | ​ | ​ | 104,304 | ​ | ​ | — | ​ | ​ | 104,304
Accrued Interest Payable | ​ | ​ | 5,208 | ​ | ​ | — | ​ | ​ | 5,208 | ​ | ​ | — | ​ | ​ | 5,208
Fair Value Swaps | ​ | ​ | 768 | ​ | ​ | — | ​ | ​ | 768 | ​ | ​ | — | ​ | ​ | 768
Interest Rate Swaps | ​ | ​ | 9,827 | ​ | ​ | — | ​ | ​ | 9,827 | ​ | ​ | — | ​ | ​ | 9,827
Risk Participation Agreement | ​ | ​ | 17 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 17 | ​ | ​ | 17
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024
​ | ​ | ​ | ​ | ​ | Fair Value Hierarchy | ​ | ​ | ​
​ | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated
(dollars in thousands) |  | Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
Financial Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and Due From Banks | ​ | $ | 229,760 | ​ | $ | 229,760 | ​ | $ | — | ​ | $ | — | ​ | $ | 229,760
Bank-Owned Certificates of Deposit | ​ | ​ | 4,377 | ​ | ​ | — | ​ | ​ | 4,370 | ​ | ​ | — | ​ | ​ | 4,370
Securities Available for Sale | ​ | ​ | 768,247 | ​ | ​ | 167,748 | ​ | ​ | 600,499 | ​ | ​ | — | ​ | ​ | 768,247
FHLB Stock, at Cost | ​ | ​ | 19,297 | ​ | ​ | — | ​ | ​ | 19,297 | ​ | ​ | — | ​ | ​ | 19,297
Loans, Net | ​ | ​ | 3,809,436 | ​ | ​ | — | ​ | ​ | 3,709,775 | ​ | ​ | 91 | ​ | ​ | 3,709,866
Accrued Interest Receivable | ​ | ​ | 17,711 | ​ | ​ | — | ​ | ​ | 17,711 | ​ | ​ | — | ​ | ​ | 17,711
Fair Value Swaps | ​ | ​ | 10,487 | ​ | ​ | — | ​ | ​ | 10,487 | ​ | ​ | — | ​ | ​ | 10,487
Interest Rate Caps | ​ | ​ | 19,319 | ​ | ​ | — | ​ | ​ | 19,319 | ​ | ​ | — | ​ | ​ | 19,319
Interest Rate Swaps | ​ | ​ | 13,349 | ​ | ​ | — | ​ | ​ | 13,349 | ​ | ​ | — | ​ | ​ | 13,349
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ | $ | 4,086,767 | ​ | $ | — | ​ | $ | 4,131,298 | ​ | $ | — | ​ | $ | 4,131,298
Notes Payable | ​ | ​ | 13,750 | ​ | ​ | — | ​ | ​ | 13,775 | ​ | ​ | — | ​ | ​ | 13,775
FHLB Advances | ​ | ​ | 359,500 | ​ | ​ | — | ​ | ​ | 358,759 | ​ | ​ | — | ​ | ​ | 358,759
Subordinated Debentures | ​ | ​ | 79,670 | ​ | ​ | — | ​ | ​ | 76,056 | ​ | ​ | — | ​ | ​ | 76,056
Accrued Interest Payable | ​ | ​ | 4,008 | ​ | ​ | — | ​ | ​ | 4,008 | ​ | ​ | — | ​ | ​ | 4,008
Interest Rate Swaps | ​ | ​ | 8,210 | ​ | ​ | — | ​ | ​ | 8,210 | ​ | ​ | — | ​ | ​ | 8,210

X
- Definition 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 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 10 -SubTopic 10 -Topic 825 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-13 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition 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 + Details
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