XML 44 R31.htm IDEA: XBRL DOCUMENT v3.26.1
FAIR VALUE (Tables)
3 Months Ended
Mar. 31, 2026
FAIR VALUE  
Assets Measured at Fair Value on Recurring Basis

March 31, 2026

Fair Value Measurements Using:

Quoted Prices In

Significant

  ​ ​ ​

  ​ ​ ​

Active Markets

  ​ ​ ​

Significant Other

  ​ ​ ​

Unobservable

Carrying

for Identical Assets

Observable Inputs

Inputs

(in thousands)

Amount

(Level 1)

(Level 2)

(Level 3)

Financial assets:

Available-for-sale securities:

U.S. GSE residential mortgage-backed securities

$

24,153

$

$

24,153

$

U.S. GSE residential collateralized mortgage obligations

12,319

12,319

U.S. GSE commercial mortgage-backed securities

2,509

2,509

Collateralized loan obligations

31,591

31,591

Corporate bonds

 

35,227

 

 

35,227

 

Loan servicing rights

6,194

6,194

Total

$

111,993

$

$

105,799

$

6,194

Financial liabilities:

 

 

 

 

Derivatives

$

543

$

$

543

$

December 31, 2025

Fair Value Measurements Using:

Quoted Prices In

Active Markets

Significant  

  ​ ​ ​

  ​ ​ ​

for Identical

  ​ ​ ​

Significant Other

  ​ ​ ​

Unobservable

Carrying

Assets

Observable Inputs

Inputs

(In thousands)

Amount

(Level 1)

(Level 2)

(Level 3)

Financial assets:

Available-for-sale securities:

U.S. Treasury securities

$

4,495

$

$

4,495

$

U.S. GSE residential mortgage-backed securities

18,143

18,143

U.S. GSE residential collateralized mortgage obligations

11,757

11,757

U.S. GSE commercial mortgage-backed securities

2,532

2,532

Collateralized loan obligations

32,664

32,664

Corporate bonds

 

29,961

 

 

29,961

 

Loan servicing rights

 

6,320

 

 

 

6,320

Total

$

105,872

$

$

99,552

$

6,320

Financial liabilities:

Derivatives

$

1,053

$

$

1,053

$

Changes in mortgage servicing rights

  ​ ​ ​

Three Months Ended March 31, 

(in thousands)

2026

  ​ ​ ​

2025

Balance at beginning of period

  ​

$

6,320

$

6,016

Additions

 

101

 

490

Adjustment to fair value

 

(227)

 

(299)

Balance at end of period

$

6,194

$

6,207

Assets Measured at Fair Value on a Non-recurring Basis

March 31, 2026

Fair Value Measurements Using:

Quoted Prices In

Significant

  ​ ​ ​

  ​ ​ ​

Active Markets

  ​ ​ ​

Significant Other

  ​ ​ ​

Unobservable

Carrying

for Identical Assets

Observable Inputs

Inputs

(in thousands)

Amount

(Level 1)

(Level 2)

(Level 3)

Collateral-dependent loans:

Multifamily

$

378

$

$

$

378

Commercial and industrial

5,678

5,678

Other real estate owned, net:

Commercial real estate

650

650

December 31, 2025

Fair Value Measurements Using:

Quoted Prices In

Significant

  ​ ​ ​

  ​ ​ ​

Active Markets

  ​ ​ ​

Significant Other

  ​ ​ ​

Unobservable

Carrying

for Identical Assets

Observable Inputs

Inputs

(in thousands)

Amount

(Level 1)

(Level 2)

(Level 3)

Collateral-dependent loans:

Multifamily

$

378

$

$

$

378

Commercial real estate

991

991

Commercial and industrial

6,084

6,084

Other real estate owned, net:

Commercial real estate

650

650

Summary of additional quantitative information about level 3 fair value measured at fair value on non-nonrecurring

Range

March 31, 2026

Fair Value

Valuation Technique

Unobservable Inputs

(Weighted Average)

(Dollar in thousands)

Collateral-dependent loans:

Multifamily

$

378

Income approach

Capitalization rate

4.00% - 9.40%

(8.50%)

Commercial and industrial

5,678

Income approach

Capitalization rate

5.00% - 9.50%

(8.50%)

Other real estate owned:

Commercial real estate

650

Income approach

Capitalization rate

5.50% - 12.00%

(9.00%)

Range

December 31, 2025

Fair Value

Valuation Technique

Unobservable Input

(Weighted Average)

(Dollar in thousands)

Collateral-dependent loans:

Multifamily

$

378

Income approach

Capitalization rate

4.00% - 9.40%

(8.50%)

Commercial real estate

991

Sales comparison

Comparable sales

5.00% - 20.00%

approach

adjustments

(10.00%)

Commercial and industrial

6,084

Income approach

Capitalization rate

5.00% - 9.50%

(8.50%)

Other real estate owned:

Commercial real estate

650

Income approach

Capitalization rate

5.50% - 12.00%

(9.00%)

Financial Instruments Not Measured at Fair Value

March 31, 2026

Fair Value Measurements Using:

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Quoted Prices In

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Active Markets

Significant

for Identical

Significant Other

Unobservable

Carrying

Assets

Observable  Inputs

Inputs

Total Fair

(In thousands)

Amount

(Level 1)

(Level 2)

(Level 3)

Value

Financial assets:

Cash and cash equivalents

$

194,448

$

194,448

$

$

$

194,448

Securities held-to-maturity

 

963

 

 

919

 

 

919

Loans, net

 

1,973,545

 

 

 

1,968,216

 

1,968,216

Accrued interest receivable

 

11,520

 

 

1,153

 

10,367

 

11,520

Financial liabilities:

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Time deposits

 

517,421

 

 

517,591

 

 

517,591

Demand and other deposits

 

1,504,925

 

1,504,925

 

 

 

1,504,925

Borrowings

 

59,780

 

 

59,026

 

 

59,026

Subordinated debentures

 

59,021

 

 

61,003

 

 

61,003

Accrued interest payable

 

1,681

 

13

 

1,668

 

 

1,681

December 31, 2025

Fair Value Measurements Using:

Quoted Prices In

Active Markets

Significant

for Identical

Significant Other

Unobservable

Carrying

Assets

Observable Inputs

Inputs

Total Fair

(In thousands)

Amount

(Level 1)

(Level 2)

(Level 3)

Value

Financial assets:

Cash and cash equivalents

  ​ ​ ​

$

208,904

  ​ ​ ​

$

208,904

  ​ ​ ​

$

  ​ ​ ​

$

  ​ ​ ​

$

208,904

Securities held-to-maturity

 

1,017

 

 

976

 

 

976

Loans, net

 

1,982,055

 

 

 

1,981,457

 

1,981,457

Accrued interest receivable

 

11,780

 

 

1,165

 

10,615

 

11,780

Financial liabilities:

 

  ​

 

  ​

 

  ​

 

  ​

 

  ​

Time deposits

 

509,896

 

 

510,703

 

 

510,703

Demand and other deposits

 

1,518,491

 

1,518,491

 

 

 

1,518,491

Borrowings

 

100,725

 

 

101,510

 

 

101,510

Subordinated debentures

24,743

26,342

26,342

Accrued interest payable

 

1,741

 

11

 

1,730

 

 

1,741