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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Measurements [Abstract]

Assets Measured at Fair Value on a Recurring Basis

The following tables present the assets and liabilities reported on the Consolidated Balance Sheet at their fair value on a recurring basis as of June 30, 2026 and December 31, 2025 by level within the fair value hierarchy (in thousands). Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

June 30, 2026		Level I				Level II				Level III				Total
Fair value measurements on a recurring basis:
Assets
Equity securities		$	1,930			$	-			$	-			$	1,930
Available for sale securities:
U.S. Agency securities			-				42,890				-				42,890
U.S. Treasury securities			-				75,284				-				75,284
Obligations of state and political subdivisions			-				133,040				-				133,040
Corporate obligations			-				5,869				-				5,869
Mortgage-backed securities in government sponsored entities			-				234,228				-				234,228
Loans held for sale			-				10,369				-				10,369
Derivative instruments			-				6,270				485				6,755
Liabilities
Derivative instruments			-				(3,948	)			-				(3,948	)

December 31, 2025		Level I				Level II				Level III				Total
Fair value measurements on a recurring basis:
Assets
Equity securities		$	1,815			$	-			$	-			$	1,815
Available for sale securities:
U.S. Agency securities			-				49,755				-				49,755
U.S. Treasuries securities			-				82,654				-				82,654
Obligations of state and political subdivisions			-				115,886				-				115,886
Corporate obligations			-				11,297				-				11,297
Mortgage-backed securities in government sponsored entities			-				185,149				-				185,149
Derivative instruments			-				6,587				340				6,927
Liabilities
Derivative instruments			-				(4,100	)			-				(4,100	)

Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)

The following tables represent the change in the assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2026 and 2025 for interest rate lock commitments (IRLC) (in thousands):

For the three months ended June 30, 2026		IRLC-Asset
Balance: March 31, 2026		$	522
Total unrealized losses:
Included in other comprehensive loss			-
Total losses included in earnings and held at reporting date			(37	)
Purchases, sales and settlements			-
Transfers in and/or out of Level 3			-
Ending Balance: June 30, 2026		$	485
Change in unrealized (losses) for the period included in earnings (or changes in net assets) for assets held as of June 30, 2026			(37	)
Change in unrealized loss for the period included other comprehensive loss for assets held as of December 31, 2025			-
For the six months ended June 30, 2026			IRLC-Asset
Balance: December 31, 2025		$	340
Total unrealized losses:
Included in other comprehensive loss			-
Total losses included in earnings and held at reporting date			145
Purchases, sales and settlements			-
Transfers in and/or out of Level 3			-
Ending Balance: June 30, 2026		$	485
Change in unrealized (losses) for the period included in earnings (or changes in net assets) for assets held as of June 30, 2026			145
Change in unrealized loss for the period included other comprehensive loss for assets held as of December 31, 2025			-
For the three months ended June 30, 2025			IRLC-Asset
Balance: March 31, 2025		$	472
Total unrealized losses:
Included in other comprehensive loss			-
Total losses included in earnings and held at reporting date			76
Purchases, sales and settlements			-
Transfers in and/or out of Level 3			-
Ending Balance: June 30, 2025		$	548
Change in unrealized (losses) for the period included in earnings (or changes in net assets) for assets held as of June 30, 2025			76
Change in unrealized loss for the period included other comprehensive loss for assets held as of December 31, 2024			-

		IRLC-Asset
Balance: December 31, 2024		$	317
Total unrealized losses:
Included in other comprehensive loss			-
Total losses included in earnings and held at reporting date			231
Purchases, sales and settlements			-
Transfers in and/or out of Level 3			-
Ending Balance: June 30, 2025		$	548
Change in unrealized (losses) for the period included in earnings (or changes in net assets) for assets held as of June 30, 2025			231
Change in unrealized loss for the period included other comprehensive loss for assets held as of December 31, 2024			-

Significant Unobservable Inputs Used in Fair Value Measurement Process

Significant unobservable inputs for assets measured at fair value on a recurring basis at June 30, 2026 and December 31, 2025 (dollars in thousands):

Quantitative Information about Level 3 Fair Value Measurements

June 30, 2026

Fair Value

Valuation Technique

Significant Unobservable Input

Range

Weighted Average

Measured at Fair Value on a Recurring Basis:

Net derivative asset and liability:

IRLC

$

485

Discounted cash flows

Pull-through rates

75.75%-99.42

%

87.99

%

Quantitative Information about Level 3 Fair Value Measurements

December 31, 2025

Fair Value

Valuation Technique

Significant Unobservable Input

Range

Weighted Average

Measured at Fair Value on a Recurring Basis:

Net derivative asset and liability:

IRLC

$

340

Discounted cash flows

Pull-through rates

75.39%-97.16

%

85.90

%

The following table provides a listing of the significant unobservable inputs used in the fair value measurement process for items valued utilizing Level III techniques (dollars in thousands).

Quantitative Information about Level III Fair Value Measurements

June 30, 2026

Fair Value

Valuation Technique(s)

Unobservable input

Range

Weighted average

Collateral-dependent loans

$

11,531

Appraised Collateral Values

Discount for time since appraisal

0-100%

23.99%

Selling costs

0%-10%

8.92%

Holding period

0 - 12 months

11.63 months

Other real estate owned

2,358

Appraised Collateral Values

Discount for time since appraisal

7.50%

7.50%

December 31, 2025

Fair Value

Valuation Technique(s)

Unobservable input

Range

Weighted average

Collateral dependent loans

8,628

Appraised Collateral Values

Discount for time since appraisal

0-100%

32.18%

Selling costs

8%-10%

9.43%

Holding period

1 - 12 months

11.62 months

Other real estate owned

2,358

Appraised Collateral Values

Discount for time since appraisal

7.50%

7.50%

Assets Measured at Fair Value on Non-recurring Basis

Assets measured at fair value on a nonrecurring basis as of June 30, 2026 and December 31, 2025 are included in the table below (in thousands):

June 30, 2026		Level I				Level II				Level III				Total
Collateral-dependent loans		$	-			$	-			$	11,531			$	11,531
Other real estate owned			-				-				2,358				2,358
December 31, 2025		Level I				Level II				Level III				Total
Collateral-dependent loans		$	-			$	-			$	8,628			$	8,628
Other real estate owned			-				-				2,358				2,358

Carrying Amount and Fair Value of Financial Instruments

The carrying amount and fair value of the Company’s financial instruments that are not required to be measured or reported at fair value on a recurring basis are as follows (in thousands):

		Carrying
June 30, 2026		Amount				Fair Value				Level I				Level II				Level III
Financial assets:
Interest bearing time deposits with other banks		$	3,324			$	3,306			$	-			$	-			$	3,306
Net loans			2,371,469				2,351,503				-				-				2,351,503
Financial liabilities:
Deposits			2,394,537				2,391,487				1,877,262				-				514,225
Borrowed funds			394,024				387,863				-				-				387,863

		Carrying
December 31, 2025		Amount				Fair Value				Level I				Level II				Level III
Financial assets:
Interest bearing time deposits with other banks		$	3,820			$	3,802			$	-			$	-			$	3,802
Net loans			2,327,816				2,295,926				-				-				2,295,926
Financial liabilities:
Deposits			2,376,979				2,375,552				1,877,545				-				498,007
Borrowed funds			309,448				304,486				-				-				304,486

X

- 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.

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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).

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.

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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).

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