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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Measurements |
Summary of fair value of assets measured at fair value on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at March 31, 2025 Using
​ | ​ | ​ | ​ | ​ | Quoted Prices in | ​ | ​ | ​ | ​ | Significant
​ | ​ | ​ | ​ | ​ | Active Markets for | ​ | Significant Other | ​ | Unobservable
​ | ​ | Balance as of | ​ | Identical Assets | ​ | Observable Inputs | ​ | Inputs
(Dollars in thousands) |  | March 31, 2025 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities available-for-sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Treasuries | ​ | $ | 22,638 | ​ | $ | — | ​ | $ | 22,638 | ​ | $ | —
U.S. government and federal agencies | ​ |  | 8,689 | ​ |  | — | ​ |  | 8,689 | ​ |  | —
Corporate bonds | ​ |  | 2,788 | ​ |  | — | ​ |  | 2,788 | ​ |  | —
U.S. agency collateralized mortgage obligations | ​ |  | 30,421 | ​ |  | — | ​ |  | 30,421 | ​ |  | —
Tax-exempt municipal | ​ |  | 1,157 | ​ |  | — | ​ |  | 1,157 | ​ |  | —
Taxable municipal | ​ |  | 265 | ​ |  | — | ​ |  | 265 | ​ |  | —
U.S. agency mortgage-backed | ​ |  | 58,511 | ​ |  | — | ​ |  | 58,511 | ​ |  | —
Equity securities, at fair value | ​ |  | 2,888 | ​ |  | 2,888 | ​ |  | — | ​ |  | —
Interest rate swap agreements | ​ | ​ | 408 | ​ | ​ | — | ​ | ​ | 408 | ​ | ​ | —
Total assets at fair value | ​ | $ | 127,765 | ​ | $ | 2,888 | ​ | $ | 124,877 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap agreements | ​ | $ | 408 | ​ | $ | — | ​ | $ | 408 | ​ | $ | —
Total liabilities at fair value | ​ | $ | 408 | ​ | $ | — | ​ | $ | 408 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at December 31, 2024 Using
​ |  | ​ | ​ |  | Quoted Prices in |  | ​ | ​ |  | Significant
​ | ​ | ​ | ​ | ​ | Active Markets for | ​ | Significant Other | ​ | Unobservable
​ | ​ | Balance as of | ​ | Identical Assets | ​ | Observable Inputs | ​ | Inputs
(Dollars in thousands) | ​ | December 31, 2024 | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3)
Assets: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Securities available-for-sale: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Treasuries | ​ | $ | 27,137 | ​ | $ | — | ​ | $ | 27,137 | ​ | $ | —
U.S. government and federal agencies | ​ |  | 10,581 | ​ |  | — | ​ |  | 10,581 | ​ |  | —
Corporate bonds | ​ |  | 2,739 | ​ |  | — | ​ |  | 2,739 | ​ |  | —
Collateralized mortgage obligations | ​ |  | 29,611 | ​ |  | — | ​ |  | 29,611 | ​ |  | —
Tax-exempt municipal | ​ |  | 1,171 | ​ |  | — | ​ |  | 1,171 | ​ |  | —
Taxable municipal | ​ |  | 263 | ​ |  | — | ​ |  | 263 | ​ |  | —
Mortgage-backed | ​ |  | 58,755 | ​ |  | — | ​ |  | 58,755 | ​ |  | —
Equity securities, at fair value | ​ |  | 2,832 | ​ |  | 2,832 | ​ |  | — | ​ |  | —
Interest rate swap agreements | ​ | ​ | 549 | ​ | ​ | — | ​ | ​ | 549 | ​ | ​ | —
Total assets at fair value | ​ | $ | 133,638 | ​ | $ | 2,832 | ​ | $ | 130,806 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap agreements | ​ | $ | 549 | ​ | $ | — | ​ | $ | 549 | ​ | $ | —
Total liabilities at fair value | ​ | $ | 549 | ​ | $ | — | ​ | $ | 549 | ​ | $ | —
Summary of carrying value and estimated fair value of financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at March 31, 2025 Using
​ |  | ​ | ​ |  | Quoted Prices in |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Active Markets | ​ | ​ | ​ | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | for Identical | ​ | Significant Other | ​ | Unobservable | ​ | ​ | ​
​ | ​ | Carrying Value as of | ​ | Assets | ​ | Observable Inputs | ​ | Inputs | ​ | Fair Value as of
(Dollars in thousands) | ​ | March 31, 2025 | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | March 31, 2025
Assets: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 169,060 | ​ | $ | 169,060 | ​ | $ | — | ​ | $ | — | ​ | $ | 169,060
Securities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Available-for-sale | ​ |  | 124,469 | ​ |  | — | ​ |  | 124,469 | ​ |  | — | ​ |  | 124,469
Held-to-maturity | ​ |  | 91,172 | ​ |  | — | ​ |  | 77,456 | ​ |  | — | ​ |  | 77,456
Equity securities, at fair value | ​ |  | 2,888 | ​ |  | 2,888 | ​ |  | — | ​ |  | — | ​ |  | 2,888
Restricted securities, at cost | ​ | ​ | 7,634 | ​ | ​ | — | ​ | ​ | 7,634 | ​ | ​ | — | ​ | ​ | 7,634
Loans, net | ​ |  | 1,851,646 | ​ |  | — | ​ |  | — | ​ |  | 1,755,704 | ​ |  | 1,755,704
Interest rate swap agreements | ​ | ​ | 408 | ​ | ​ | — | ​ | ​ | 408 | ​ | ​ | — | ​ | ​ | 408
Accrued interest receivable | ​ |  | 5,902 | ​ |  | — | ​ |  | 5,902 | ​ |  | — | ​ |  | 5,902
Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 1,922,175 | ​ | $ | — | ​ | $ | 1,924,014 | ​ | $ | — | ​ | $ | 1,924,014
Federal Home Loan Bank advances | ​ |  | 56,000 | ​ |  | — | ​ |  | 56,000 | ​ |  | — | ​ |  | 56,000
Subordinated debt | ​ |  | 24,812 | ​ |  | — | ​ |  | — | ​ |  | 22,364 | ​ |  | 22,364
Interest rate swap agreements | ​ | ​ | 408 | ​ | ​ | — | ​ | ​ | 408 | ​ | ​ | — | ​ | ​ | 408
Accrued interest payable | ​ |  | 2,072 | ​ |  | — | ​ |  | 2,072 | ​ |  | — | ​ |  | 2,072
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at December 31, 2024 Using
​ |  | ​ | ​ |  | Quoted Prices in |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Active Markets | ​ | ​ | ​ | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | for Identical | ​ | Significant Other | ​ | Unobservable | ​ | ​
​ | ​ | Carrying Value as of | ​ | Assets | ​ | Observable Inputs | ​ | Inputs | ​ | Fair Value as of
(Dollars in thousands) | ​ | December 31, 2024 | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | December 31, 2024
Assets: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 122,469 | ​ | $ | 122,469 | ​ | $ | — | ​ | $ | — | ​ | $ | 122,469
Securities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Available-for-sale | ​ |  | 130,257 | ​ |  | — | ​ |  | 130,257 | ​ |  | — | ​ |  | 130,257
Held-to-maturity | ​ |  | 92,009 | ​ |  | — | ​ |  | 76,270 | ​ |  | — | ​ |  | 76,270
Equity securities, at fair value | ​ |  | 2,832 | ​ |  | 2,832 | ​ |  | — | ​ |  | — | ​ |  | 2,832
Restricted securities, at cost | ​ | ​ | 7,634 | ​ | ​ | — | ​ | ​ | 7,634 | ​ | ​ | — | ​ | ​ | 7,634
Loans, net | ​ |  | 1,853,458 | ​ |  | — | ​ |  | — | ​ |  | 1,749,721 | ​ |  | 1,749,721
Interest rate swap agreement | ​ | ​ | 549 | ​ | ​ | — | ​ | ​ | 549 | ​ | ​ | — | ​ | ​ | 549
Accrued interest receivable | ​ |  | 5,996 | ​ |  | — | ​ |  | 5,996 | ​ |  | — | ​ |  | 5,996
Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 1,892,415 | ​ | $ | — | ​ | $ | 1,895,118 | ​ | $ | — | ​ | $ | 1,895,118
Federal Reserve Bank borrowings | ​ | ​ | 56,000 | ​ |  | — | ​ |  | 56,000 | ​ |  | — | ​ |  | 56,000
Federal funds purchased | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Subordinated debt | ​ |  | 24,791 | ​ |  | — | ​ |  | — | ​ |  | 22,126 | ​ |  | 22,126
Interest rate swap agreement | ​ | ​ | 549 | ​ | ​ | — | ​ | ​ | 549 | ​ | ​ | — | ​ | ​ | 549
Accrued interest payable | ​ |  | 2,394 | ​ |  | — | ​ |  | 2,394 | ​ |  | — | ​ |  | 2,394
​

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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 + 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/2009/role/commonPracticeRef -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 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
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