XML 34 R24.htm IDEA: XBRL DOCUMENT v3.26.1
Fair Value Measurements and Disclosures (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Summary of Assets Measured on Recurring Basis
The following tables present the balances of assets measured for fair value on a recurring basis as of March 31, 2026 and December 31, 2025.

(dollars in thousands)March 31, 2026Level 1Level 2Level 3
Assets
Available for sale securities:
U.S. agency mortgage-backed$273,740 $— $273,740 $— 
Collateralized mortgage obligations50,738 — 50,738 — 
Municipal bonds47,765 — 47,765 — 
U.S. government agency9,986 — 9,986 — 
Corporate bonds3,500 — 3,500 — 
Total$385,729 $— $385,729 $— 
Derivative assets$1,101 $— $1,101 $— 
Total$386,830 $— $386,830 $— 
Liabilities
Derivative liabilities$211 $— $211 $— 


(dollars in thousands)December 31, 2025Level 1Level 2Level 3
Assets
Available for sale securities:
U.S. agency mortgage-backed$267,650 $— $267,650 $— 
Collateralized mortgage obligations60,327 — 60,327 — 
Municipal bonds48,147 — 48,147 — 
U.S. government agency11,003 — 11,003 — 
Corporate bonds4,321 — 4,321 — 
Total$391,448 $— $391,448 $— 
Derivative assets$1,311 $— $1,311 $— 
Total$392,759 $— $392,759 $— 
Liabilities
Derivative liabilities$294 $— $294 $— 
Summary of Financial Assets Measured at Fair Value on Nonrecurring Basis
The Company has segregated all financial assets that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date as reflected in the table below.

  Fair Value Measurements Using
(dollars in thousands)March 31, 2026Level 1Level 2Level 3
Assets
Loans individually evaluated$7,800 $— $— $7,800 
Foreclosed assets and ORE4,093 — — 4,093 
Total$11,893 $— $— $11,893 
  Fair Value Measurements Using
(dollars in thousands)December 31, 2025Level 1Level 2Level 3
Assets
Loans individually evaluated$4,941 $— $— $4,941 
Foreclosed assets and ORE1,929 — — 1,929 
Total$6,870 $— $— $6,870 
Summary of Significant Unobservable Inputs Used in Fair Value Measurement of Level 3 Assets
The following table shows significant unobservable inputs used in the fair value measurement of Level 3 assets.

(dollars in thousands)Fair ValueValuation TechniqueUnobservable InputsRange of DiscountsWeighted Average Discount
March 31, 2026
Loans individually evaluated$7,800 Third party appraisals and discounted cash flowsCollateral values, market discounts and estimated costs to sell
0% - 100%
22%
Foreclosed assets and ORE$4,093 Third party appraisals, sales contracts, broker price opinionsCollateral values, market discounts and estimated costs to sell
6% - 30%
15%
(dollars in thousands)Fair ValueValuation TechniqueUnobservable InputsRange of
Discounts		Weighted Average Discount
December 31, 2025
Loans individually evaluated$4,941 Third party appraisals and discounted cash flowsCollateral values, market discounts and estimated costs to sell
0% - 100%
20%
Foreclosed assets and ORE$1,929 Third party appraisals, sales contracts, broker price opinionsCollateral values, market discounts and estimated costs to sell
0% - 43%
22%
Summary of Fair Values of Company's Financial Instruments
The following table presents estimated fair values of the Company’s financial instruments as of the dates indicated.
  Fair Value Measurements at March 31, 2026
(dollars in thousands)Carrying AmountTotalLevel 1Level 2Level 3
Financial Assets
Cash and cash equivalents$223,484 $223,484 $223,484 $— $— 
Investment securities available for sale385,729 385,729 — 385,729 — 
Investment securities held to maturity530 531 — 531 — 
Mortgage loans held for sale1,558 1,558 — 1,558 — 
Loans, net2,694,466 2,715,880 — 2,708,080 7,800 
Cash surrender value of BOLI49,842 49,842 49,842 — — 
Derivative assets(1)
1,101 1,101 — 1,101 — 
Financial Liabilities
Deposits$3,026,781 $3,024,455 $2,285,279 $739,176 $— 
Subordinated debt, net of issuance cost54,729 54,415 — 54,415 — 
Derivative liabilities(1)
211 211 — 211 — 
  Fair Value Measurements at December 31, 2025
(dollars in thousands)Carrying AmountTotalLevel 1Level 2Level 3
Financial Assets
Cash and cash equivalents$141,605 $141,605 $141,605 $— $— 
Investment securities available for sale391,448 391,448 — 391,448 — 
Investment securities held to maturity1,065 1,066 — 1,066 — 
Mortgage loans held for sale1,558 1,558 — 1,558 — 
Loans, net2,710,881 2,728,477 — 2,723,536 4,941 
Cash surrender value of BOLI49,557 49,557 49,557 — — 
Derivative assets(1)
1,311 1,311 — 1,311 — 
Financial Liabilities
Deposits$2,972,806 $2,971,389 $2,167,183 $804,206 $— 
Subordinated debt, net of issuance cost54,675 54,520 — 54,520 — 
Long-term FHLB advances3,024 3,012 — 3,012 — 
Derivative liabilities(1)
294 294 — 294 — 
(1)Derivative assets and liabilities are reported at fair value in accrued interest receivable and other assets and accrued interest payable and other liabilities, respectively, in the Consolidated Statements of Financial Condition.