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Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following tables present the fair value measurements of assets and liabilities recognized in the accompanying condensed consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2026 and December 31, 2025.

June 30, 2026
 Fair Value Measurements Using
(amounts in thousands)Fair
Value
Quoted Prices
in Active Markets for Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
U.S. Government-sponsored agencies$54,275 $— $54,275 $— 
Municipal securities55,982 — 55,982 — 
Agency mortgage-backed securities - residential416,168 — 416,168 — 
Agency mortgage-backed securities - commercial56,711 — 56,711 — 
Private label mortgage-backed securities - residential117,945 — 117,945 — 
Asset-backed securities
43,106 — 43,106 — 
Corporate securities42,489 — 42,489 — 
Total available-for-sale securities$786,676 $— $786,676 $— 
Servicing asset23,180 — — 23,180 
Interest rate swap agreements - assets (back-to-back)119 — 119 — 
Interest rate swap agreements - liabilities (back-to-back)(119)— (119)— 


December 31, 2025
Fair Value Measurements Using
(amounts in thousands)Fair
Value
Quoted Prices
in Active Markets for Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
U.S. Government-sponsored agencies$63,764 $— $63,764 $— 
Municipal securities63,386 — 63,386 — 
Agency mortgage-backed securities - residential389,457 — 389,457 — 
Agency mortgage-backed securities - commercial58,477 — 58,477 — 
Private label mortgage-backed securities - residential123,673 — 123,673 — 
Asset-backed securities
42,553 — 42,553 — 
Corporate securities37,377 — 37,377 — 
Total available-for-sale securities$778,687 $— $778,687 $— 
Servicing asset22,793 — — 22,793 
Interest rate swap agreements - assets (back-to-back)210 — 210 — 
Interest rate swap agreements - liabilities (back-to-back)(210)— (210)— 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following tables reconcile the beginning and ending balances of recurring fair value measurements recognized in the accompanying condensed consolidated balance sheets using significant unobservable (Level 3) inputs for the three and six months ended June 30, 2026 and 2025.

Three Months Ended
(amounts in thousands)Servicing Asset
Balance as of April 1, 2026$23,614 
Total realized gains
Additions1,145 
Paydowns(1,679)
Change in fair value100 
Balance as of June 30, 2026$23,180 
Balance as of April 1, 2025$17,445 
Total realized gains
Additions444 
Paydowns(847)
Change in fair value(306)
Balance as of June 30, 2025$16,736 


Six Months Ended
(amounts in thousands)Servicing Asset
Balance as of January 1, 2026$22,793 
Total realized gains
Additions3,026 
Paydowns(3,241)
Change in fair value602 
Balance as of June 30, 2026$23,180 
Balance as of January 1, 2025$16,389 
Total realized gains
Additions2,681 
Paydowns(1,811)
Change in fair value(523)
Balance as of June 30, 2025$16,736 
Schedule Of Impaired Loans, Including Valuation Allowance, Fair Value, Unobservable Inputs Reconciliation
The following table presents the fair value measurements of assets and liabilities recognized in the accompanying condensed consolidated balance sheets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurement falls at June 30, 2026 and December 31, 2025.

June 30, 2026
Fair Value Measurements Using
(amounts in thousands)Fair
Value
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Collateral dependent loans$301 $— $— $301 
Other real estate owned4,121 — — 4,121 


December 31, 2025
Fair Value Measurements Using
(amounts in thousands)Fair
Value
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Collateral dependent loans$336 $— $— $336 
Other real estate owned2,631 — — 2,631 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques
The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements.

(dollars in thousands)Fair Value at
June 30, 2026
Valuation
Technique
Significant Unobservable
Inputs
RangeWeighted-Average Range
Collateral dependent loans$301 Fair value of collateralDiscount for type of property and current market conditions
0% - 60%
30.8%
Servicing asset23,180 Discounted cash flowPrepayment speeds

Discount rate
0% - 25%

13% - 14%
12.3%

13.0%
Other real estate owned4,121 Fair value of collateralDiscount to reflect current market conditions
0% - 31%
16.2%
(dollars in thousands)Fair Value at
December 31, 2025
Valuation
Technique
Significant Unobservable
Inputs
RangeWeighted-Average Range
Collateral dependent loans$336 Fair value of collateralDiscount for type of property and current market conditions
0% - 40%
30.8%
Servicing asset22,793 Discounted cash flowPrepayment speeds

Discount rate
0% - 25%

13% - 15%
11.9%

13.0%
Other real estate owned2,631 Fair value of collateralDiscount to reflect current market conditions
 30% - 35%
32.0%
Fair Value, by Balance Sheet Grouping
The following tables present the carrying value and estimated fair value of all financial assets and liabilities that are not measured at fair value on a recurring basis at June 30, 2026 and December 31, 2025.

June 30, 2026
Fair Value Measurements Using
(amounts in thousands)Carrying
Amount
Fair ValueQuoted Prices
In Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Cash and cash equivalents$410,968 $410,968 $410,968 $— $— 
Securities held-to-maturity, net 264,662 250,571 — 250,571 — 
Loans held-for-sale 44,816 49,190 — 49,190 — 
Net loans3,757,977 3,698,922 — — 3,698,922 
Accrued interest receivable29,136 29,136 29,136 — — 
Federal Home Loan Bank of Indianapolis stock28,350 28,350 — 28,350 — 
Deposits4,831,378 4,796,701 2,888,873 — 1,907,828 
Advances from Federal Home Loan Bank239,500 239,115 — 239,115 — 
Subordinated debt105,626 106,769 37,059 69,710 — 
Accrued interest payable1,594 1,594 1,594 — — 
December 31, 2025
Fair Value Measurements Using
(amounts in thousands)Carrying
Amount
Fair ValueQuoted Prices
In Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Cash and cash equivalents$456,777 $456,777 $456,777 $— $— 
Securities held-to-maturity, net250,609 238,815 — 238,815 — 
Loans held-for-sale 108,608 117,917 — 117,917 — 
Net loans3,691,042 3,642,632 — — 3,642,632 
Accrued interest receivable27,909 27,909 27,909 — — 
Federal Home Loan Bank of Indianapolis stock28,350 28,350 — 28,350 — 
Deposits4,839,813 4,853,941 2,559,565 — 2,294,376 
Advances from Federal Home Loan Bank249,500 252,046 — 252,046 — 
Subordinated debt105,465 105,492 37,059 68,433 — 
Accrued interest payable1,744 1,744 1,744 — —