Fair Value Measurement

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

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