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Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value of Assets and Liabilities

Schedule of balances of financial assets and liabilities measured at fair value on a recurring basis

March 31, 2025

Fair Value Measurements Classified as

Assets/Liabilities at

(Dollars in thousands)

Level 1

Level 2

Level 3

Fair Value

Assets:

Securities available for sale

U.S. Treasury securities

$

—

$

4,769

$

—

$

4,769

U.S. government agencies and corporations

—

61,919

—

61,919

Mortgage-backed securities

—

199,397

—

199,397

Obligations of states and political subdivisions

—

143,496

—

143,496

Corporate and other debt securities

—

21,932

—

21,932

Total securities available for sale

—

431,513

—

431,513

Loans held for sale

—

27,278

—

27,278

Other investments

—

3,976

—

3,976

Derivatives

IRLC

—

1,005

—

1,005

Interest rate swaps on loans

—

3,448

—

3,448

Cash flow hedges

—

915

—

915

Total assets

$

—

$

468,135

$

—

$

468,135

Liabilities:

Derivatives

Interest rate swaps on loans

$

—

$

3,448

$

—

$

3,448

Cash flow hedges

—

132

—

132

Total liabilities

$

—

$

3,580

$

—

$

3,580


		December 31, 2024
		Fair Value Measurements Classified as									Assets/Liabilities at
(Dollars in thousands)		Level 1			Level 2			Level 3			Fair Value
Assets:
Securities available for sale
U.S. Treasury securities		$	—		$	10,700		$	—		$	10,700
U.S. government agencies and corporations			—			60,659			—			60,659
Mortgage-backed securities			—			182,436			—			182,436
Obligations of states and political subdivisions			—			143,610			—			143,610
Corporate and other debt securities			—			21,220			—			21,220
Total securities available for sale			—			418,625			—			418,625
Loans held for sale			—			20,112			—			20,112
Other investments			—			4,167			—			4,167
Derivatives
IRLC			—			585			—			585
Interest rate swaps on loans			—			4,636			—			4,636
Cash flow hedges			—			1,169			—			1,169
Total assets		$	—		$	449,294		$	—		$	449,294

Liabilities:
Derivatives
Interest rate swaps on loans		$	—		$	4,636		$	—		$	4,636
Total liabilities		$	—		$	4,636		$	—		$	4,636

Schedule of assets measured at fair value on a nonrecurring basis

March 31, 2025

Fair Value Measurements Classified as

Assets at Fair

(Dollars in thousands)

Level 1

Level 2

Level 3

Value

Other real estate owned, net

$

—

$

—

$

1,316

$

1,316

Total

$

—

$

—

$

1,316

$

1,316


		December 31, 2024
		Fair Value Measurements Classified as									Assets at Fair
(Dollars in thousands)		Level 1			Level 2			Level 3			Value
Other real estate owned, net		$	—		$	—		$	1,316		$	1,316
Total		$	—		$	—		$	1,316		$	1,316

Schedule of carrying amounts and estimated fair values of financial instruments

Carrying

Fair Value Measurements at March 31, 2025 Classified as

Total Fair

(Dollars in thousands)

Value

Level 1

Level 2

Level 3

Value

Financial assets:

Cash and short-term investments

$

77,229

$

75,958

$

1,271

$

—

$

77,229

Securities available for sale

431,513

—

431,513

—

431,513

Loans, net

1,903,283

—

—

1,877,069

1,877,069

Loans held for sale

27,278

—

27,278

—

27,278

Other investments

3,976

—

3,976

—

3,976

Derivatives

IRLC

1,005

—

1,005

—

1,005

Interest rate swaps on loans

3,448

—

3,448

—

3,448

Cash flow hedges

915

—

915

—

915

Bank-owned life insurance

21,309

—

21,309

—

21,309

Accrued interest receivable

10,598

10,598

—

—

10,598

Financial liabilities:

Demand and savings deposits

1,389,087

1,389,087

—

—

1,389,087

Time deposits

827,567

—

827,464

—

827,464

Borrowings

111,367

—

102,710

—

102,710

Derivatives

Interest rate swaps on loans

3,448

—

3,448

—

3,448

Cash flow hedges

132

—

132

—

132

Accrued interest payable

3,931

3,931

—

—

3,931


		Carrying			Fair Value Measurements at December 31, 2024 Classified as									Total Fair
(Dollars in thousands)		Value			Level 1			Level 2			Level 3			Value
Financial assets:
Cash and short-term investments		$	66,853		$	65,586		$	1,265		$	—		$	66,851
Securities available for sale			418,625			—			418,625			—			418,625
Loans, net			1,880,311			—			—			1,838,887			1,838,887
Loans held for sale			20,112			—			20,112			—			20,112
Other investments			4,167			—			4,167			—			4,167
Derivatives
IRLC			585			—			585			—			585
Interest rate swaps on loans			4,636			—			4,636			—			4,636
Cash flow hedges			1,169			—			1,169			—			1,169
Bank-owned life insurance			21,191			—			21,191			—			21,191
Accrued interest receivable			10,592			10,592			—			—			10,592
Financial liabilities:
Demand and savings deposits			1,352,531			1,352,531			—			—			1,352,531
Time deposits			818,329			—			819,276			—			819,276
Borrowings			114,440			—			105,533			—			105,533
Derivatives
Interest rate swaps on loans			4,636			—			4,636			—			4,636
Accrued interest payable			4,403			4,403			—			—			4,403