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Fair Value of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value of Assets and Liabilities

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

June 30, 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

$

—

$

4,798

$

—

$

4,798

U.S. government agencies and corporations

—

61,258

—

61,258

Mortgage-backed securities

—

201,533

—

201,533

Obligations of states and political subdivisions

—

144,740

—

144,740

Corporate and other debt securities

—

22,177

—

22,177

Total securities available for sale

—

434,506

—

434,506

Loans held for sale

—

44,757

—

44,757

Other investments

—

4,090

—

4,090

Rabbi trust assets

16,431

—

—

16,431

Derivatives

IRLC

—

763

—

763

Interest rate swaps on loans

—

3,035

—

3,035

Cash flow hedges

—

750

—

750

Total assets

$

16,431

$

487,901

$

—

$

504,332

Liabilities:

Derivatives

Interest rate swaps on loans

$

—

$

3,035

$

—

$

3,035

Cash flow hedges

—

219

—

219

Total liabilities

$

—

$

3,254

$

—

$

3,254


		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
Rabbi trust assets			15,574			—			—			15,574
Derivatives
IRLC			—			585			—			585
Interest rate swaps on loans			—			4,636			—			4,636
Cash flow hedges			—			1,169			—			1,169
Total assets		$	15,574		$	449,294		$	—		$	464,868

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

June 30, 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 June 30, 2025 Classified as

Total Fair

(Dollars in thousands)

Value

Level 1

Level 2

Level 3

Value

Financial assets:

Cash and short-term investments

$

81,716

$

80,195

$

1,521

$

—

$

81,716

Securities available for sale

434,506

—

434,506

—

434,506

Loans, net

1,952,087

—

—

1,929,466

1,929,466

Loans held for sale

44,757

—

44,757

—

44,757

Other investments

4,090

—

4,090

—

4,090

Rabbi trust assets

16,431

16,431

—

—

16,431

Derivatives

IRLC

763

—

763

—

763

Interest rate swaps on loans

3,035

—

3,035

—

3,035

Cash flow hedges

750

—

750

—

750

Bank-owned life insurance

21,426

—

21,426

—

21,426

Accrued interest receivable

10,934

10,934

—

—

10,934

Financial liabilities:

Demand and savings deposits

1,413,372

1,413,372

—

—

1,413,372

Time deposits

842,942

—

842,287

—

842,287

Borrowings

138,117

—

133,036

—

133,036

Derivatives

Interest rate swaps on loans

3,035

—

3,035

—

3,035

Cash flow hedges

219

—

219

—

219

Accrued interest payable

4,072

4,072

—

—

4,072


		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
Rabbi trust assets			15,574			15,574			—			—			15,574
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