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Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Financial Instruments

The following table presents the carrying values and estimated fair values of our financial instruments as of the periods shown:

(Dollars in thousands)						Carrying Value						Estimated Fair Value						Quoted Prices in Active Markets for Identical Assets (Level I)						Significant Other Observable Inputs (Level II)						Significant Unobservable Inputs (Level III)
March 31, 2025
Financial Assets:
Cash and cash equivalents						$	251,450					$	251,450					$	251,450					$	—					$	—
Securities available-for-sale						419,617						419,617						—						394,455						25,162
Equity securities						44,317						44,317						6,728						—						37,589
Loans receivable, net						2,044,131						2,150,017						—						—						2,150,017
Interest rate swaps						4,349						4,349						—						4,349						—
Accrued interest receivable						14,912						14,912						—						3,350						11,562
FHLB stock						1,988						1,988						—						1,988						—
Embedded derivative						648						648						—						—						648
Financial Liabilities:
Deposits						$	2,583,798					$	2,543,232					$	—					$	2,543,232					$	—
Repurchase agreements						4,047						4,047						—						4,047						—
Interest rate swaps						4,349						4,349						—						4,349						—
Fair value hedge						543						543						—						543						—
Accrued interest payable						3,145						3,145						—						3,145						—
Subordinated debt						73,850						69,010						—						69,010						—
December 31, 2024
Financial assets:
Cash and cash equivalents						$	317,913					$	317,913					$	317,913					$	—					$	—
Securities available-for-sale						411,640						411,640						—						386,147						25,493
Equity securities						42,583						42,583						4,994						—						37,589
Loans receivable, net						2,080,468						2,186,572						—						—						2,186,572
Interest rate swaps						5,913						5,913						—						5,913						—
Accrued interest receivable						16,537						16,537						—						6,815						9,722
FHLB stock						2,011						2,011						—						2,011						—
Embedded derivative						648						648						—						—						648
Financial liabilities:
Deposits						$	2,693,615					$	2,606,342					$	—					$	2,606,342					$	—
Repurchase agreements						2,759						2,759						—						2,759						—
Interest rate swaps						5,913						5,913						—						5,913						—
Fair value hedge						112						112						—						112						—
Accrued interest payable						5,788						5,788						—						5,788						—
Subordinated debt						73,787						106,038						—						106,038						—

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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

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- References

No definition available.

+ Details

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