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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of fair value measurements by level within the fair value hierarchy and the basis of measurement used

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

			September 30, 2025
(In thousands)			Basis						Level 1						Level 2						Level 3						Total
Assets
Equity securities with readily determinable fair values			Recurring						$	945					$	—					$	—					$	945
AFS Investment Securities:
U.S. Government and agencies									—						137,773						—						137,773
Collateralized mortgage obligations									—						52,475						—						52,475
Residential mortgage-backed securities									—						149,808						—						149,808
Commercial mortgage-backed securities									—						90,232						—						90,232
State and municipal									—						4,038						—						4,038
Corporate bonds									—						27,891						—						27,891
Total AFS Investment Securities			Recurring						$	—					$	462,217					$	—					$	462,217
Loans held for sale			Recurring						—						16,850						—						16,850
Derivative financial instruments - assets			Recurring						—						5,206						—						5,206
Individually evaluated loans			Non-recurring						—						—						1,520						1,520
Foreclosed assets held for resale			Non-recurring						—						—						32						32
Liabilities
Derivative financial instruments - liabilities			Recurring						$	—					$	3,751					$	—					$	3,751

			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

Schedule of additional quantitative information about assets measured at fair value on a nonrecurring basis

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:

(Dollars in thousands)

Fair Value Estimate

Valuation Technique 1

Unobservable Input 2

Range

Weighted Average

September 30, 2025

Individually evaluated loans

$

1,520

Appraisal of collateral

Appraisal adjustments

16% – 100%

45%

Foreclosed assets held for resale

32

Appraisal of collateral

Appraisal adjustments

17%

17%

December 31, 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%

_______________________________________

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.

Schedule of carrying amount, exit pricing concept fair value and placement in the fair value hierarchy

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

			September 30, 2025
			Carrying Amount						Estimated Fair Value
(In thousands)									Total						Level 1						Level 2						Level 3
Financial assets:
Cash and due from banks			$	30,500					$	30,500					$	30,500					$	—					$	—
Interest-bearing deposits with banks			71,639						71,639						71,639						—						—
Equity securities with readily determinable fair values			945						945						945						—						—
Investment securities AFS			462,217						462,217						—						462,217						—
Investment securities HTM			63,408						56,932						—						56,932						—
Loans held for sale			16,850						16,850						—						16,850						—
Loans, net			2,312,945						2,324,921						—						—						2,324,921
Accrued interest receivable			10,754						10,754						—						10,754						—
Restricted investment in bank stocks			14,462						N/A						—						N/A						—
Derivative assets			5,206						5,206						—						5,206						—
Financial liabilities:
Demand deposits, savings, and money markets			$	2,019,457					$	2,019,457					$	—					$	2,019,457					$	—
Time deposits			446,439						440,508						—						440,508						—
Securities sold under repurchase agreements			27,127						27,127						—						27,127						—
Federal funds purchased			3,341						3,341						—						3,341						—
FHLB Advances			285,000						287,674						—						287,674						—
Trust preferred and subordinated debt			20,365						19,277						—						19,277						—
Accrued interest payable			2,303						2,303						—						2,303						—
Derivative liabilities			3,751						3,751						—						3,751						—

			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 AFS			393,975						393,975						—						393,975						—
Investment securities HTM			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						—

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.

+ References

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- Definition

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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