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Fair Value of Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Carrying Amount, Estimated Fair Values, and Placement in Fair Value Hierarchy

The carrying amount, estimated fair values, and placement in the fair value hierarchy of the Company’s financial instruments as of September 30, 2025 and December 31, 2024 are as follows:

			Fair Value Measurements
(dollars in thousands)			Carrying Value						Estimated Fair Value						Level 1						Level 2						Level 3
September 30, 2025
Assets
Cash and short-term investments			$	199,966					$	199,966					$	199,966					$	—					$	—
Investment securities available-for-sale			305,259						305,259						—						298,373						6,886
Investment securities held-to-maturity			389,135						353,618						—						353,618						—
Other investments			17,999						17,999						—						17,999						—
Loans held for sale			19,286						19,286						—						19,286						—
Loans, net			2,018,970						1,937,639						—						—						1,937,639
Liabilities
Deposits			2,584,329						2,581,784						—						2,581,784						—
Federal Home Loan Bank advances			185,000						184,058						—						184,058						—
Other borrowings			63,109						54,124						—						54,124						—
Derivative liabilities			610						610						—						610						—

			Fair Value Measurements
(dollars in thousands)			Carrying Value						Estimated Fair Value						Level 1						Level 2						Level 3
December 31, 2024
Assets
Cash and short-term investments			$	231,034					$	231,034					$	231,034					$	—					$	—
Investment securities available-for-sale			366,049						366,049						—						357,128						8,921
Investment securities held-to-maturity			430,077						383,020						—						383,020						—
Other investments			17,694						17,694						—						17,694						—
Loans held for sale			39,786						39,786						—						39,786						—
Loans, net			1,824,000						1,703,487						—						—						1,703,487
Derivative assets			784						784						—						784						—
Liabilities
Deposits			2,567,943						2,564,143						—						2,564,143						—
Federal Home Loan Bank advances			185,000						186,468						—						186,468						—
Other borrowings			63,039						52,057						—						52,057						—
Derivative liabilities			47						47						—						47						—

Schedule of Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis

The following tables present the recorded amount of the Company’s assets and liabilities measured at fair value on a recurring and nonrecurring basis as of September 30, 2025 and December 31, 2024, aggregated by the level in the fair value hierarchy within which those measurements fall. The tables below include collateral dependent impaired loans and other real estate properties at September 30, 2025 and December 31, 2024. Those collateral dependent impaired loans and other real estate properties are shown net of the related specific reserves and valuation allowances.

									Fair Value Measurements at Reporting Date Using
(dollars in thousands)			Total Fair Value						(Level 1)						(Level 2)						(Level 3)
September 30, 2025
Recurring
Investment securities available-for-sale
U.S. treasury securities			$	763					$	—					$	763					$	—
U.S. agency securities			2,145						—						2,145						—
Asset backed securities			14,845						—						14,845						—
State, county & municipal securities			97,645						—						97,645						—
Corporate debt securities			45,849						—						38,963						6,886
Mortgage-backed securities			144,012						—						144,012						—
Total investment securities available-for-sale			305,259						—						298,373						6,886
Equity securities with readily determinable fair values			6,064						—						6,064						—
Loans held for sale			19,286						—						19,286						—
Total recurring assets			$	330,609					$	—					$	323,723					$	6,886
Derivative liabilities			$	610					$	—					$	610					$	—
Total recurring liabilities			$	610					$	—					$	610					$	—
Nonrecurring
Collateral dependent loans			$	5,948					$	—					$	—					$	5,948
Other real estate owned			710						—						—						710
Total nonrecurring assets			$	6,658					$	—					$	—					$	6,658

									Fair Value Measurements at Reporting Date Using
(dollars in thousands)			Total Fair Value						(Level 1)						(Level 2)						(Level 3)
December 31, 2024
Recurring
Investment securities available-for-sale
U.S. treasury securities			$	3,173					$	—					$	3,173					$	—
U.S. agency securities			2,755						—						2,755						—
Asset backed securities			17,824						—						17,824						—
State, county & municipal securities			95,637						—						95,637						—
Corporate debt securities			47,782						—						41,234						6,548
Mortgage-backed securities			198,878						—						196,505						2,373
Total investment securities available-for-sale			366,049						—						357,128						8,921
Equity securities with readily determinable fair values			5,797						—						5,797						—
Loans held for sale			39,786						—						39,786						—
Derivative assets			784						—						784						—
Total recurring assets			$	412,416					$	—					$	403,495					$	8,921
Derivative liabilities			$	47					$	—					$	47					$	—
Total recurring liabilities			$	47					$	—					$	47					$	—
Nonrecurring
Collateral dependent loans			$	3,075					$	—					$	—					$	3,075
Other real estate owned			202						—						—						202
Total nonrecurring assets			$	3,277					$	—					$	—					$	3,277

Schedule of Quantitative Information About Fair Value Measurements for Assets in Level 3

The following table presents quantitative information about the significant unobservable inputs used in the fair value measurements for assets in level 3 of the fair value hierarchy measured on a nonrecurring basis at September 30, 2025 and December 31, 2024. This table is comprised of collateral dependent impaired loans and other real estate owned:

(dollars in thousands)

September 30, 2025

Valuation Techniques

Unobservable Inputs

Discount rate

Collateral dependent loans

$

5,948

Appraised Value

Discounts to reflect estimated costs to sell

10

%

Other real estate owned

710

Appraised Value/Comparable Sales

Discounts to reflect current market conditions and estimated costs to sell

10

%

(dollars in thousands)

December 31, 2024

Valuation Techniques

Unobservable Inputs

Discount rate

Collateral dependent loans

$

3,075

Appraised Value

Discounts to reflect estimated costs to sell

10

%

Other real estate owned

202

Appraised Value/Comparable Sales

Discounts to reflect current market conditions and estimated costs to sell

10

%

The following table presents quantitative information about recurring level 3 fair value measurements as of September 30, 2025 and December 31, 2024.

As of September 30, 2025

(dollars in thousands)

Fair Value

Valuation Techniques

Unobservable Inputs

Range (Weighted Avg)

Available-for-sale securities

$

6,886

Discounted Cash Flow

Discount Rate or Yield

N/A

As of December 31, 2024

(dollars in thousands)

Fair Value

Valuation Techniques

Unobservable Inputs

Range (Weighted Avg)

Available-for-sale securities

$

8,921

Discounted Cash Flow

Discount Rate or Yield

N/A

Schedule of Reconciliation and Statement of Income for Assets Measured at Fair Value on Recurring Basis

The table below presents a reconciliation and statement of income classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (level 3) for the three and nine months ended September 30, 2025.

			Three Months Ended						Nine Months Ended
			September 30, 2025						September 30, 2025
(dollars in thousands)			Available-for-sale securities												Available-for-sale securities
Balance, Beginning			$	6,811											$	8,921
Additions/Accretion			10												10
Redemptions/Payments			—												(2,380)
Fair value adjustments			65												335
Balance, Ending			$	6,886											$	6,886

X

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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.

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