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Fair Value Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Fair Value Measurements, Recurring Basis | Assets and liabilities measured at fair value on a recurring basis, segregated by fair value hierarchy level, are summarized below:
|  | September 30, 2023
|  | Fair Value Measurements Using |  |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Thousands)
Assets: |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |
U.S. treasuries |  | $ | — |  |  | $ | 13,541 |  |  | $ | — |  |  | $ | 13,541 |
U.S. government agency securities - government-sponsored enterprises |  | — |  |  | 27,939 |  |  | — |  |  | 27,939 |
Municipal securities |  | — |  |  | 33,040 |  |  | — |  |  | 33,040 |
Residential mortgage-backed securities - government issued |  | — |  |  | 55,760 |  |  | — |  |  | 55,760 |
Residential mortgage-backed securities - government-sponsored enterprises |  | — |  |  | 112,983 |  |  | — |  |  | 112,983 |
Commercial mortgage-backed securities - government issued |  | — |  |  | 2,677 |  |  | — |  |  | 2,677 |
Commercial mortgage-backed securities - government-sponsored enterprises |  | — |  |  | 26,223 |  |  | — |  |  | 26,223 |
Interest rate swaps |  | — |  |  | 93,702 |  |  | — |  |  | 93,702 |
Liabilities: |  |  |  |  |  |  |  |
Interest rate swaps |  | — |  |  | 78,696 |  |  | — |  |  | 78,696 |
|  | December 31, 2022
|  | Fair Value Measurements Using |  |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Thousands)
Assets: |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |
U.S. treasuries |  | $ | — |  |  | $ | 4,445 |  |  | $ | — |  |  | $ | 4,445 |
U.S. government agency securities - government-sponsored enterprises |  | — |  |  | 13,205 |  |  | — |  |  | 13,205 |
Municipal securities |  | — |  |  | 39,311 |  |  | — |  |  | 39,311 |
Residential mortgage-backed securities - government issued |  | — |  |  | 19,431 |  |  | — |  |  | 19,431 |
Residential mortgage-backed securities - government-sponsored enterprises |  | — |  |  | 106,323 |  |  | — |  |  | 106,323 |
Commercial mortgage-backed securities - government issued |  | — |  |  | 2,932 |  |  | — |  |  | 2,932 |
Commercial mortgage-backed securities - government-sponsored enterprises |  | — |  |  | 26,377 |  |  | — |  |  | 26,377 |
Interest rate swaps |  | — |  |  | 68,581 |  |  | — |  |  | 68,581 |
Liabilities: |  |  |  |  |  |  |  |
Interest rate swaps |  | — |  |  | 61,419 |  |  | — |  |  | 61,419 |
Fair Value Measurements, Nonrecurring Basis | Assets and liabilities measured at fair value on a non-recurring basis, segregated by fair value hierarchy are summarized below:
|  | September 30, 2023
|  | Fair Value Measurements Using |  |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Thousands)
Collateral-dependent loans |  | $ | — |  |  | $ | — |  |  | $ | 2,559 |  |  | $ | 2,559 |
Repossessed assets |  | — |  |  | — |  |  | 61 |  |  | 61 |
Loan servicing rights |  | — |  |  | — |  |  | 1,443 |  |  | 1,443 |
|  | December 31, 2022
|  | Fair Value Measurements Using |  |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (In Thousands)
Impaired loans |  | $ | — |  |  | $ | — |  |  | $ | 1,022 |  |  | $ | 1,022 |
Repossessed assets |  | — |  |  | — |  |  | 95 |  |  | 95 |
Loan servicing rights |  | — |  |  | — |  |  | 1,491 |  |  | 1,491 |
Fair Value, by Balance Sheet Grouping | Fair value estimates, methods, and assumptions, consistent with exit price concepts for fair value measurements, are set forth below:
|  | September 30, 2023
|  | Carrying Amount |  | Fair Value
|  |  |  | Total |  | Level 1 |  | Level 2 |  | Level 3
|  | (In Thousands)
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 132,915 |  |  | $ | 132,915 |  |  | $ | 132,915 |  |  | $ | — |  |  | $ | — |
Securities available-for-sale |  | 272,163 |  |  | 272,163 |  |  | — |  |  | 272,163 |  |  | — |
Securities held-to-maturity |  | 8,689 |  |  | 8,213 |  |  | — |  |  | 8,213 |  |  | — |
Loans held for sale |  | 4,168 |  |  | 4,501 |  |  | — |  |  | 4,501 |  |  | — |
Loans and lease receivables, net |  | 2,734,683 |  |  | 2,689,337 |  |  | — |  |  | — |  |  | 2,689,337 |
Federal Home Loan Bank stock |  | 13,528 |  |  | N/A |  | N/A |  | N/A |  | N/A
Accrued interest receivable |  | 12,380 |  |  | 12,380 |  |  | 12,380 |  |  | — |  |  | — |
Interest rate swaps |  | 93,702 |  |  | 93,702 |  |  | — |  |  | 93,702 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | 2,657,007 |  |  | 2,650,876 |  |  | 2,013,999 |  |  | 636,877 |  |  | — |
Federal Home Loan Bank advances and other borrowings |  | 363,891 |  |  | 346,586 |  |  | — |  |  | 346,586 |  |  | — |
Accrued interest payable |  | 10,079 |  |  | 10,079 |  |  | 10,079 |  |  | — |  |  | — |
Interest rate swaps |  | 78,696 |  |  | 78,696 |  |  | — |  |  | 78,696 |  |  | — |
Off-balance sheet items: |  |  |  |  |  |  |  |  |  |
Standby letters of credit |  | 132 |  |  | 132 |  |  | — |  |  | — |  |  | 132 |
N/A = The fair value is not applicable due to restrictions placed on transferability
|  | December 31, 2022
|  | Carrying Amount |  | Fair Value
|  |  |  | Total |  | Level 1 |  | Level 2 |  | Level 3
|  | (In Thousands)
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 102,682 |  |  | $ | 102,682 |  |  | $ | 102,682 |  |  | $ | — |  |  | $ | — |
Securities available-for-sale |  | 212,024 |  |  | 212,024 |  |  | — |  |  | 212,024 |  |  | — |
Securities held-to-maturity |  | 12,635 |  |  | 12,270 |  |  | — |  |  | 12,270 |  |  | — |
Loans held for sale |  | 2,632 |  |  | 2,829 |  |  | — |  |  | 2,829 |  |  | — |
Loans and lease receivables, net |  | 2,418,836 |  |  | 2,394,702 |  |  | — |  |  | — |  |  | 2,394,702 |
Federal Home Loan Bank stock |  | 17,812 |  |  | N/A |  | N/A |  | N/A |  | N/A
Accrued interest receivable |  | 9,403 |  |  | 9,403 |  |  | 9,403 |  |  | — |  |  | — |
Interest rate swaps |  | 68,581 |  |  | 68,543 |  |  | — |  |  | 68,543 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | 2,168,206 |  |  | 2,167,444 |  |  | 1,827,215 |  |  | 340,229 |  |  | — |
Federal Home Loan Bank advances and other borrowings |  | 456,808 |  |  | 440,242 |  |  | — |  |  | 440,242 |  |  | — |
Accrued interest payable |  | 4,053 |  |  | 4,053 |  |  | 4,053 |  |  | — |  |  | — |
Interest rate swaps |  | 61,419 |  |  | 61,419 |  |  | — |  |  | 61,419 |  |  | — |
Off-balance sheet items: |  |  |  |  |  |  |  |  |  |
Standby letters of credit |  | 184 |  |  | 184 |  |  | — |  |  | — |  |  | 184 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -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 + 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 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: 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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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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/2003/role/disclosureRef -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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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