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Fair Value Measurement (Tables) | 3 Months Ended
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Mar. 31, 2026
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 March 31, 2026. The following tables present the balances of assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2026
(dollars in thousands) | ​ ​ ​ | Level 1 | ​ ​ ​ | Level 2 | ​ ​ ​ | Level 3 | ​ ​ ​ | Total
Fair Value of Financial Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Municipal Bonds | ​ | ​ | — | ​ | ​ | 196,661 | ​ | ​ | — | ​ | ​ | 196,661
Mortgage-Backed Securities | ​ | ​ | — | ​ | ​ | 230,320 | ​ | ​ | — | ​ | ​ | 230,320
Corporate Securities | ​ | ​ | — | ​ | ​ | 94,373 | ​ | ​ | — | ​ | ​ | 94,373
U.S. Government Agency Securities | ​ | ​ | — | ​ | ​ | 7,702 | ​ | ​ | — | ​ | ​ | 7,702
Asset-Backed Securities | ​ | ​ | — | ​ | ​ | 37,509 | ​ | ​ | — | ​ | ​ | 37,509
Interest Rate Caps | ​ | ​ | — | ​ | ​ | 13,280 | ​ | ​ | — | ​ | ​ | 13,280
Interest Rate Swaps | ​ | ​ | — | ​ | ​ | 10,368 | ​ | ​ | — | ​ | ​ | 10,368
Total Fair Value of Financial Assets | ​ | $ | — | ​ | $ | 590,213 | ​ | $ | — | ​ | $ | 590,213
Fair Value of Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair Value Swaps | ​ | $ | — | ​ | $ | 137 | ​ | $ | — | ​ | $ | 137
Interest Rate Swaps | ​ | ​ | — | ​ | ​ | 8,043 | ​ | ​ | — | ​ | ​ | 8,043
Risk Participation Agreement | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 11 | ​ | ​ | 11
Total Fair Value of Financial Liabilities | ​ | $ | — | ​ | $ | 8,180 | ​ | $ | 11 | ​ | $ | 8,191
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2025
(dollars in thousands) | ​ ​ ​ | Level 1 | ​ ​ ​ | Level 2 | ​ ​ ​ | Level 3 | ​ ​ ​ | Total
Fair Value of Financial Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities Available for Sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury Securities | ​ | $ | 146,206 | ​ | $ | — | ​ | $ | — | ​ | $ | 146,206
Municipal Bonds | ​ | ​ | — | ​ | ​ | 239,168 | ​ | ​ | — | ​ | ​ | 239,168
Mortgage-Backed Securities | ​ | ​ | — | ​ | ​ | 245,672 | ​ | ​ | — | ​ | ​ | 245,672
Corporate Securities | ​ | ​ | — | ​ | ​ | 92,407 | ​ | ​ | — | ​ | ​ | 92,407
U.S. Government Agency Securities | ​ | ​ | — | ​ | ​ | 8,707 | ​ | ​ | — | ​ | ​ | 8,707
Asset-Backed Securities | ​ | ​ | — | ​ | ​ | 44,281 | ​ | ​ | — | ​ | ​ | 44,281
Fair Value Swaps | ​ | ​ | — | ​ | ​ | 10,968 | ​ | ​ | — | ​ | ​ | 10,968
Interest Rate Caps | ​ | ​ | — | ​ | ​ | 13,221 | ​ | ​ | — | ​ | ​ | 13,221
Interest Rate Swaps | ​ | ​ | — | ​ | ​ | 10,711 | ​ | ​ | — | ​ | ​ | 10,711
Risk Participation Agreements | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | 1
Total Fair Value of Financial Assets | ​ | $ | 146,206 | ​ | $ | 665,135 | ​ | $ | 1 | ​ | $ | 811,342
Fair Value of Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair Value Swaps | ​ | $ | — | ​ | $ | 419 | ​ | $ | — | ​ | $ | 419
Interest Rate Swaps | ​ | ​ | — | ​ | ​ | 9,424 | ​ | ​ | — | ​ | ​ | 9,424
Risk Participation Agreements | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 13 | ​ | ​ | 13
Total Fair Value of Financial Liabilities | ​ | $ | — | ​ | $ | 9,843 | ​ | $ | 13 | ​ | $ | 9,856
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 March 31, 2026 and December 31, 2025: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2026
(dollars in thousands) | ​ ​ ​ | Level 1 | ​ ​ ​ | Level 2 | ​ ​ ​ | Level 3 | ​ ​ ​ | Loss
Individually Evaluated Loans | ​ | $ | — | ​ | $ | — | ​ | $ | 18,518 | ​ | $ | 4,036
Totals | ​ | $ | — | ​ | $ | — | ​ | $ | 18,518 | ​ | $ | 4,036
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2025
(dollars in thousands) | ​ ​ ​ | Level 1 | ​ ​ ​ | Level 2 | ​ ​ ​ | Level 3 | ​ ​ ​ | Loss
Individually Evaluated Loans | ​ | $ | — | ​ | $ | — | ​ | $ | 39,043 | ​ | $ | 3,812
Totals | ​ | $ | — | ​ | $ | — | ​ | $ | 39,043 | ​ | $ | 3,812
Schedule of valuation techniques and significant unobservable inputs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | March 31, 2026
(dollars in thousands) | ​ | Valuation | ​ | Unobservable | ​ | ​ | ​ | ​ | ​ | ​ | Weighted
Asset Type | ​ | Technique | ​ | Input | ​ | Fair Value | ​ | Range | ​ | Average
Collateral Dependent Loans | ​ | Appraisal/Evaluation Value | ​ | Property Specific Adjustment | ​ | $ | 17,789 | ​ | 1% - 10% | ​ | 2%
Collateral Dependent Loans | ​ | Discounted Cash Flows | ​ | Discount Rate | ​ | ​ | 729 | ​ | 30% | ​ | 30%
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | December 31, 2025
(dollars in thousands) | ​ | Valuation | ​ | Unobservable | ​ | ​ | ​ | ​ | ​ | ​ | Weighted
Asset Type | ​ | Technique | ​ | Input | ​ | Fair Value | ​ | Range | ​ | Average
Collateral Dependent Loans | ​ | Appraisal/Evaluation Value | ​ | Property Specific Adjustment | ​ | $ | 39,043 | ​ | 1% - 10% | ​ | 3%
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 March 31, 2026 and December 31, 2025: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2026
​ | ​ | ​ | ​ | ​ | Fair Value Hierarchy | ​ | ​ | ​
​ | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated
(dollars in thousands) | ​ ​ ​ | Amount | ​ ​ ​ | Level 1 | ​ ​ ​ | Level 2 | ​ ​ ​ | Level 3 | ​ ​ ​ | Fair Value
Financial Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and Cash Equivalents | ​ | $ | 222,154 | ​ | $ | 222,154 | ​ | $ | — | ​ | $ | — | ​ | $ | 222,154
Bank-Owned Certificates of Deposit | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Securities Available for Sale | ​ | ​ | 566,565 | ​ | ​ | — | ​ | ​ | 566,565 | ​ | ​ | — | ​ | ​ | 566,565
FHLB Stock, at Cost | ​ | ​ | 18,398 | ​ | ​ | — | ​ | ​ | 18,398 | ​ | ​ | — | ​ | ​ | 18,398
Loans, Net | ​ | ​ | 4,302,132 | ​ | ​ | — | ​ | ​ | 4,237,073 | ​ | ​ | 18,518 | ​ | ​ | 4,255,591
Accrued Interest Receivable | ​ | ​ | 15,841 | ​ | ​ | — | ​ | ​ | 15,841 | ​ | ​ | — | ​ | ​ | 15,841
Interest Rate Caps | ​ | ​ | 13,280 | ​ | ​ | — | ​ | ​ | 13,280 | ​ | ​ | — | ​ | ​ | 13,280
Interest Rate Swaps | ​ | ​ | 10,368 | ​ | ​ | — | ​ | ​ | 10,368 | ​ | ​ | — | ​ | ​ | 10,368
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ | $ | 4,305,511 | ​ | $ | — | ​ | $ | 4,307,500 | ​ | $ | — | ​ | $ | 4,307,500
FHLB Advances | ​ | ​ | 336,000 | ​ | ​ | — | ​ | ​ | 335,673 | ​ | ​ | — | ​ | ​ | 335,673
Subordinated Debentures | ​ | ​ | 108,782 | ​ | ​ | — | ​ | ​ | 103,709 | ​ | ​ | — | ​ | ​ | 103,709
Accrued Interest Payable | ​ | ​ | 4,254 | ​ | ​ | — | ​ | ​ | 4,254 | ​ | ​ | — | ​ | ​ | 4,254
Fair Value Swaps | ​ | ​ | 137 | ​ | ​ | — | ​ | ​ | 137 | ​ | ​ | — | ​ | ​ | 137
Interest Rate Swaps | ​ | ​ | 8,043 | ​ | ​ | — | ​ | ​ | 8,043 | ​ | ​ | — | ​ | ​ | 8,043
Risk Participation Agreements | ​ | ​ | 11 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 11 | ​ | ​ | 11
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2025
​ | ​ | ​ | ​ | ​ | Fair Value Hierarchy | ​ | ​ | ​
​ | ​ | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated
(dollars in thousands) | ​ ​ ​ | Amount | ​ ​ ​ | Level 1 | ​ ​ ​ | Level 2 | ​ ​ ​ | Level 3 | ​ ​ ​ | Fair Value
Financial Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and Cash Equivalents | ​ | $ | 123,511 | ​ | $ | 123,511 | ​ | $ | — | ​ | $ | — | ​ | $ | 123,511
Securities Available for Sale | ​ | ​ | 776,441 | ​ | ​ | 146,206 | ​ | ​ | 630,235 | ​ | ​ | — | ​ | ​ | 776,441
FHLB Stock, at Cost | ​ | ​ | 21,122 | ​ | ​ | — | ​ | ​ | 21,122 | ​ | ​ | — | ​ | ​ | 21,122
Loans, Net | ​ | ​ | 4,244,108 | ​ | ​ | — | ​ | ​ | 4,142,794 | ​ | ​ | 39,043 | ​ | ​ | 4,181,837
Accrued Interest Receivable | ​ | ​ | 18,929 | ​ | ​ | — | ​ | ​ | 18,929 | ​ | ​ | — | ​ | ​ | 18,929
Fair Value Swaps | ​ | ​ | 10,968 | ​ | ​ | — | ​ | ​ | 10,968 | ​ | ​ | — | ​ | ​ | 10,968
Interest Rate Caps | ​ | ​ | 13,221 | ​ | ​ | — | ​ | ​ | 13,221 | ​ | ​ | — | ​ | ​ | 13,221
Interest Rate Swaps | ​ | ​ | 10,711 | ​ | ​ | — | ​ | ​ | 10,711 | ​ | ​ | — | ​ | ​ | 10,711
Risk Participation Agreements | ​ | ​ | 1 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | 1
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ | $ | 4,320,369 | ​ | $ | — | ​ | $ | 4,324,551 | ​ | $ | — | ​ | $ | 4,324,551
FHLB Advances | ​ | ​ | 399,500 | ​ | ​ | — | ​ | ​ | 399,760 | ​ | ​ | — | ​ | ​ | 399,760
Subordinated Debentures | ​ | ​ | 108,677 | ​ | ​ | — | ​ | ​ | 102,579 | ​ | ​ | — | ​ | ​ | 102,579
Accrued Interest Payable | ​ | ​ | 3,227 | ​ | ​ | — | ​ | ​ | 3,227 | ​ | ​ | — | ​ | ​ | 3,227
Fair Value Swaps | ​ | ​ | 419 | ​ | ​ | — | ​ | ​ | 419 | ​ | ​ | — | ​ | ​ | 419
Interest Rate Swaps | ​ | ​ | 9,424 | ​ | ​ | — | ​ | ​ | 9,424 | ​ | ​ | — | ​ | ​ | 9,424
Risk Participation Agreements | ​ | ​ | 13 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 13 | ​ | ​ | 13

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 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 + 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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