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Fair Value (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Assets Measured on Recurring Basis | The table below presents the recorded amount of assets measured at fair value on a recurring basis:
(in thousands) | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
March 31, 2025 |  |  |  |  |  |  |
Loans HFS | $ | 2,178 |  |  | $ | — |  |  | $ | 2,178 |  |  | $ | — |
Securities AFS: |  |  |  |  |  |  |
Mortgage-backed securities | $ | 328,283 |  |  | $ | — |  |  | $ | 328,283 |  |  | $ | — |
Municipal bonds | $ | 168,389 |  |  | $ | — |  |  | $ | 168,389 |  |  | $ | — |
U.S. Treasury securities | $ | 3,484 |  |  | $ | — |  |  | $ | 3,484 |  |  | $ | — |
U.S. agency securities | $ | 66,718 |  |  | $ | — |  |  | $ | 66,718 |  |  | $ | — |
Equity securities | $ | 2,981 |  |  | $ | 2,981 |  |  | $ | — |  |  | $ | — |
December 31, 2024 |  |  |  |  |  |  |
Loans HFS | $ | 2,547 |  |  | $ | — |  |  | $ | 2,547 |  |  | $ | — |
Securities AFS: |  |  |  |  |  |  |
Mortgage-backed securities | $ | 307,100 |  |  | $ | — |  |  | $ | 307,100 |  |  | $ | — |
Municipal bonds | $ | 168,843 |  |  | $ | — |  |  | $ | 168,843 |  |  | $ | — |
U.S. Treasury securities | $ | 10,932 |  |  | $ | — |  |  | $ | 10,932 |  |  | $ | — |
U.S. agency securities | $ | 63,273 |  |  | $ | — |  |  | $ | 63,273 |  |  | $ | — |
Equity securities | $ | 2,937 |  |  | $ | 2,937 |  |  | $ | — |  |  | $ | — |
Schedule of Fair Value of Assets Measured on Nonrecurring Basis | The table below presents certain individually evaluated collateral dependent loans that were remeasured and reported at fair value through the ACL based upon the fair value of the underlying collateral as of the dates indicated:
(in thousands) | March 31, 2025 |  | December 31, 2024
Carrying value of collateral dependent loans before allowance | $ | 2,660 |  |  | $ | 1,672 |
Specific allowance | (23) |  |  | (658) |
Fair value of collateral dependent loans | $ | 2,637 |  |  | $ | 1,014 |
The following table presents foreclosed assets that were remeasured and reported at fair value as of the dates indicated:
(in thousands) | March 31, 2025 |  | December 31, 2024
Foreclosed assets remeasured at initial recognition: |  |  |
Carrying value of foreclosed assets prior to remeasurement | $ | 141 |  |  | $ | 38 |
Charge-offs | (16) |  |  | — |
Fair value of foreclosed assets | $ | 125 |  |  | $ | 38 |
Schedule of Inputs Used for the Level 3 Fair Value Measurement | The unobservable inputs used for the Level 3 fair value measurements on a nonrecurring basis were as follows:
(dollars in thousands) | Fair Value |  | Valuation Technique |  | Unobservable Input |  | Discount Ranges |  | Weighted Average Discount
March 31, 2025 |  |  |  |  |  |  |  |  |
Collateral dependent loans | $ | 9,957 |  |  | Discounted appraisals |  | Collateral discounts and costs to sell |  | 0% - 48% |  | 4.74%
Foreclosed assets | $ | 125 |  |  | Discounted appraisals |  | Collateral discounts and costs to sell |  | 0% - 14% |  | 13.18%
December 31, 2024 |  |  |  |  |  |  |  |  |
Collateral dependent loans | $ | 7,841 |  |  | Discounted appraisals |  | Collateral discounts and costs to sell |  | 0% - 100% |  | 8.90%
Foreclosed assets | $ | 38 |  |  | Discounted appraisals |  | Collateral discounts and costs to sell |  | N/A |  | N/A
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments | The carrying amounts and estimated fair values of financial instruments as of March 31, 2025 and December 31, 2024, were as follows:
(in thousands) | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
March 31, 2025 |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 36,438 |  |  | $ | 36,438 |  |  | $ | 36,438 |  |  | $ | — |  |  | $ | — |
Interest-bearing deposits in other banks | $ | 215,717 |  |  | $ | 215,717 |  |  | $ | 215,717 |  |  | $ | — |  |  | $ | — |
Securities AFS | $ | 566,874 |  |  | $ | 566,874 |  |  | $ | — |  |  | $ | 566,874 |  |  | $ | — |
Securities HTM | $ | 129,686 |  |  | $ | 107,927 |  |  | $ | — |  |  | $ | 107,927 |  |  | $ | — |
Equity securities | $ | 2,981 |  |  | $ | 2,981 |  |  | $ | 2,981 |  |  | $ | — |  |  | $ | — |
Nonmarketable equity securities | $ | 2,349 |  |  | $ | 2,349 |  |  | $ | — |  |  | $ | 2,349 |  |  | $ | — |
Loans HFS | $ | 2,178 |  |  | $ | 2,178 |  |  | $ | — |  |  | $ | 2,178 |  |  | $ | — |
Loans HFI, net of allowance | $ | 2,092,907 |  |  | $ | 1,985,734 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,985,734 |
Accrued interest receivable | $ | 10,553 |  |  | $ | 10,553 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,553 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Deposits | $ | 2,825,676 |  |  | $ | 2,822,511 |  |  | $ | — |  |  | $ | 2,822,511 |  |  | $ | — |
Accrued interest payable | $ | 6,463 |  |  | $ | 6,463 |  |  | $ | — |  |  | $ | 6,463 |  |  | $ | — |
December 31, 2024 |  |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 30,558 |  |  | $ | 30,558 |  |  | $ | 30,558 |  |  | $ | — |  |  | $ | — |
Interest-bearing deposits in other banks | $ | 238,417 |  |  | $ | 238,417 |  |  | $ | 238,417 |  |  | $ | — |  |  | $ | — |
Securities AFS | $ | 550,148 |  |  | $ | 550,148 |  |  | $ | — |  |  | $ | 550,148 |  |  | $ | — |
Securities HTM | $ | 131,796 |  |  | $ | 108,990 |  |  | $ | — |  |  | $ | 108,990 |  |  | $ | — |
Equity securities | $ | 2,937 |  |  | $ | 2,937 |  |  | $ | 2,937 |  |  | $ | — |  |  | $ | — |
Nonmarketable equity securities | $ | 2,328 |  |  | $ | 2,328 |  |  | $ | — |  |  | $ | 2,328 |  |  | $ | — |
Loans HFS | $ | 2,547 |  |  | $ | 2,547 |  |  | $ | — |  |  | $ | 2,547 |  |  | $ | — |
Loans HFI, net of allowance | $ | 2,053,282 |  |  | $ | 1,923,754 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,923,754 |
Accrued interest receivable | $ | 10,048 |  |  | $ | 10,048 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,048 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Deposits | $ | 2,805,106 |  |  | $ | 2,801,310 |  |  | $ | — |  |  | $ | 2,801,310 |  |  | $ | — |
Accrued interest payable | $ | 7,583 |  |  | $ | 7,583 |  |  | $ | — |  |  | $ | 7,583 |  |  | $ | — |

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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. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- 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 assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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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- 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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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