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FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2026

FAIR VALUE

Schedule of assets measured at fair value on a recurring basis


					Fair Value Measurements Using
								Significant
					Quoted Prices in			Other			Significant
					Active Markets for			Observable			Unobservable
		Total at			Identical Assets			Inputs			Inputs
(dollars in thousands)		March 31, 2026			(Level 1)			(Level 2)			(Level 3)
Assets:
Available-for-sale securities
Residential government-sponsored mortgage-backed securities		$	71,915		$	—		$	71,915		$	—
Obligations of states and political subdivisions			5,227			—			5,227			—
Corporate securities			6,770			—			6,770			—
Residential government-sponsored collateralized mortgage obligations			65,628			—			65,628			—
Agency commercial mortgage-backed securities			16,074			—			16,074			—
SBA pool securities			6,263			—			6,263			—
			171,877			—			171,877			—
Loans held for investment			150,074			—			150,074			—
Loans held for sale, at fair value			181,715			—			181,715			—
Mortgage banking financial assets			461			—			—			461
Mortgage banking derivative assets			2,977			—			—			2,977
Investment in Panacea Financial Holdings, Inc. common stock			6,899			—			—			6,899
Total assets		$	514,003		$	—		$	503,666		$	10,337

Liabilities:
Interest rate swaps, net		$	115		$	—		$	115		$	—


					Fair Value Measurements Using
								Significant
					Quoted Prices in			Other			Significant
					Active Markets for			Observable			Unobservable
		Total at			Identical Assets			Inputs			Inputs
(dollars in thousands)		December 31, 2025			(Level 1)			(Level 2)			(Level 3)
Assets:
Available-for-sale securities
Residential government-sponsored mortgage-backed securities		$	71,806		$	—		$	71,806		$	—
Obligations of states and political subdivisions			5,778			—			5,778			—
Corporate securities			6,579			—			6,579			—
Residential government-sponsored collateralized mortgage obligations			63,807			—			63,807			—
Government-sponsored agency securities			—			—			—			—
Agency commercial mortgage-backed securities			16,965			—			16,965			—
SBA pool securities			6,442			—			6,442			—
			171,377			—			171,377			—
Loans held for investment			150,178			—			150,178			—
Loans held for sale, at fair value			166,066			—			166,066			—
Consumer Program derivative			159			—			—			159
Mortgage banking financial assets			169			—			—			169
Mortgage banking derivative assets			1,389			—			—			1,389
Investment in Panacea Financial Holdings, Inc. common stock			6,899			—			—			6,899
Total assets		$	496,237		$	—		$	487,621		$	8,616

Liabilities:
Interest rate swaps, net		$	214		$	—		$	214		$	—
Mortgage banking derivative liabilities			121			—			—			121
Total liabilities		$	335		$	—		$	214		$	121

Schedule of assets measured at fair value on non recurring basis


					Fair Value Measurements Using
								Significant
					Quoted Prices in			Other			Significant
					Active Markets for			Observable			Unobservable
		Total at			Identical Assets			Inputs			Inputs
(dollars in thousands)		March 31, 2026			(Level 1)			(Level 2)			(Level 3)
Collateral dependent loans		$	76,875		$	—		$	—		$	76,875
Loans held for sale, at lower of cost or market			41,465			41,465			—			—
Assets held for sale			776			—			—			776

Fair Value Measurements Using

Significant

Quoted Prices in

Other

Significant

Active Markets for

Observable

Unobservable

Total at

Identical Assets

Inputs

Inputs

(dollars in thousands)

 

December 31, 2025

 

(Level 1)

 

(Level 2)

 

(Level 3)

Collateral dependent loans

$

66,879

$

—

$

—

$

66,879

Assets held for sale

776

—

—

776

Schedule of estimated fair values and fair value hierarchy levels of financial instruments

The carrying amount, estimated fair values and fair value hierarchy levels of financial instruments were as follows for the periods indicated ($ in thousands):


				March 31, 2026						December 31, 2025
		Fair Value		Carrying			Fair			Carrying			Fair
		Hierarchy Level		Amount			Value			Amount			Value
Financial assets:
Cash and cash equivalents		Level 1		$	159,881		$	159,881		$	143,607		$	143,607
Securities available-for-sale		Level 2			171,877			171,877			171,377			171,377
Securities held-to-maturity		Level 2			6,792			6,343			6,981			6,560
Stock in Federal Reserve Bank and Federal Home Loan Bank		Level 2			24,162			24,162			14,185			14,185
Preferred investment in mortgage company		Level 2			3,005			3,005			3,005			3,005
Net loans		Level 2 and 3			3,349,985			3,295,401			3,237,800			3,182,264
Loans held for sale, at fair value		Level 2			181,715			181,715			166,066			166,066
Loans held for sale, at lower of cost or market		Level 1			41,465			42,605			—			—
Mortgage banking financial assets		Level 3			461			461			169			169
Mortgage banking derivative assets		Level 3			2,977			2,977			1,389			1,389
Investment in Panacea Financial Holdings, Inc. common stock		Level 3			6,899			6,899			6,899			6,899
Financial liabilities:
Demand deposits and NOW accounts		Level 2		$	1,385,696		$	1,385,696		$	1,417,177		$	1,417,177
Money market and savings accounts		Level 2			1,721,213			1,721,213			1,663,223			1,663,223
Time deposits		Level 3			316,156			314,198			315,185			313,792
Securities sold under agreements to repurchase		Level 1			3,525			3,525			3,552			3,552
Interest rate swaps, net		Level 2			115			115			214			214
FHLB advances		Level 1			230,000			230,000			25,000			25,000
Junior subordinated debt		Level 2			9,941			11,957			9,929			12,151
Senior subordinated notes		Level 2			59,370			62,025			86,233			90,813
Secured borrowings		Level 3			14,450			14,450			14,773			14,773
Mortgage banking derivative liabilities		Level 3			—			—			121			121