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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis

The following tables present assets measured at fair value and the basis of measurement used at December 31:

									2024
(In thousands)			Basis						Level 1						Level 2						Level 3						Total
Equity securities with readily determinable fair values			Recurring						$	919					$	—					$	—					$	919
AFS Investment Securities:
U.S. Government and agencies									—						143,193						—						143,193
Collateralized mortgage obligations									—						35,654						—						35,654
Residential mortgage-backed securities									—						138,540						—						138,540
Commercial mortgage-backed securities									—						60,785						—						60,785
Corporate bonds									—						15,803						—						15,803
Total AFS Investment Securities			Recurring						$	—					$	393,975					$	—					$	393,975
Loans held for sale			Recurring						—						426						—						426
Individually evaluated loans			Non-recurring						—						—						1,690						1,690
Foreclosed assets held for resale			Non-recurring						—						—						438						438

									2023
(In thousands)			Basis						Level 1						Level 2						Level 3						Total
Equity securities with readily determinable fair values			Recurring						$	928					$	—					$	—					$	928
AFS Investment Securities:
U.S. Government and agencies									—						156,795						—						156,795
Collateralized mortgage obligations									—						41,084						—						41,084
Residential mortgage-backed securities									—						158,830						—						158,830
Commercial mortgage-backed securities									—						65,290						—						65,290
Corporate bonds									—						29,694						—						29,694
Total AFS Investment Securities			Recurring						$	—					$	451,693					$	—					$	451,693
Loans held for sale			Recurring						—						280						—						280
Individually evaluated loans			Non-recurring						—						—						242						242
Foreclosed assets held for resale			Non-recurring						—						—						467						467

Fair Value Inputs, Assets, Quantitative Information

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis for which the Corporation has utilized Level 3 inputs to determine fair value as of December 31:

(Dollars in thousands)			Fair Value Estimate						Valuation Technique1						Unobservable Input2						Range						Weighted Average
2024
Individually evaluated loans			$	1,690					Appraisal of collateral						Appraisal adjustments						16%-100%						47%
Foreclosed assets held for resale			438						Appraisal of collateral						Appraisal adjustments						17%-53%						50%
2023
Individually evaluated loans			$	242					Appraisal of collateral						Appraisal adjustments						33%-100%						94%
Foreclosed assets held for resale			467						Appraisal of collateral						Appraisal adjustments						56%						56%

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1 Fair value is generally determined through management’s estimate or independent third-party appraisals of the underlying collateral, which generally includes various Level 3 inputs which are not observable.

2 Appraisals may be adjusted downward by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percentage of the appraisal. Higher downward adjustments are caused by negative changes to the collateral or conditions in the real estate market, actual offers or sales contracts received, and/or age of the appraisal.

Fair Value, by Balance Sheet Grouping

The following tables present the carrying amount and the estimated fair value of the Corporation’s financial instruments as of December 31:

			2024
			Carrying Amount						Estimated Fair Value
(In thousands)									Total						Level 1						Level 2						Level 3
Financial assets:
Cash and due from banks			$	16,352					$	16,352					$	16,352					$	—					$	—
Interest-bearing deposits with banks			30,910						30,910						30,910						—						—
Equity securities with readily determinable fair values			919						919						919						—						—
Investment securities available for sale			393,975						393,975						—						393,975						—
Investment securities held to maturity			64,578						56,924						—						56,924						—
Loans held for sale			426						426						—						426						—
Loans, net			1,665,630						1,635,351						—						—						1,635,351
Accrued interest receivable			8,189						8,189						—						8,189						—
Restricted investment in bank stocks			10,853						N/A						—						N/A						—
Financial liabilities:
Demand deposits, savings, and money markets			1,519,473						1,269,889						—						1,269,889						—
Time deposits			273,028						267,336						—						267,336						—
Securities sold under repurchase agreements			15,826						16,435						—						16,435						—
FHLB Advances			235,000						235,290						—						235,290						—
Trust preferred and subordinated debt			20,333						18,420						—						18,420						—
Accrued interest payable			1,551						1,551						—						1,551						—

			2023
			Carrying Amount						Estimated Fair Value
(In thousands)									Total						Level 1						Level 2						Level 3
Financial assets:
Cash and due from banks			$	21,442					$	21,442					$	7,063					$	14,379					$	—
Interest-bearing deposits with banks			44,516						44,516						44,516						—						—
Equity securities with readily determinable fair values			928						928						928						—						—
Investment securities available for sale			451,693						451,693						—						451,693						—
Investment securities held to maturity			64,600						59,057						—						59,057						—
Loans held for sale			280						280						—						280						—
Loans, net			1,608,019						1,562,703						—						—						1,562,703
Accrued interest receivable			8,080						8,080						—						8,080						—
Restricted investment in bank stocks			9,677						N/A						—						N/A						—
Financial liabilities:
Demand deposits, savings, and money markets			1,629,662						1,391,709						—						1,391,709						—
Time deposits			232,151						221,770						—						221,770						—
Securities sold under repurchase agreements			26,882						23,666						—						23,666						—
Long-term FHLB advances			205,000						206,950						—						206,950						—
Trust preferred and subordinated debt			20,292						16,992						—						16,992						—
Accrued interest payable			794						794						—						794						—

X

- Definition

Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

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-Topic 820
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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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