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Fair Value (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value [Abstract] |
Assets And Liabilities Measured At Fair Value On A Recurring Basis, Including Financial Assets And Liabilities | Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which the Company has elected the fair value option, are summarized below:
|  | Fair Value Measurements at March 31, 2025 using Significant Other Observable Inputs |
|  | (Level 2) |
|  | (unaudited) |
Financial Assets: |  |  |  |
Securities available for sale: |  |  |  |
Corporate debt |  | $ |  | 7,800 |
Issued by U.S. government-sponsored entities and agencies: |  |  |  |
U.S. Treasury |  |  |  | 993 |
Total securities available for sale |  | $ |  | 8,793 |
Loans held for sale |  | $ |  | 3,505 |
Derivative assets |  | $ |  | 3,352 |
Financial Liabilities: |  |  |  |
Derivative liabilities |  | $ |  | 3,352 |
|  | Fair Value Measurements at December 31, 2024 using Significant Other Observable Inputs |
|  | (Level 2) |
Financial Assets: |  |  |  |
Securities available for sale: |  |  |  |
Corporate debt |  | $ |  | 7,700 |
Issued by U.S. government-sponsored entities and agencies: |  |  |  |
U.S. Treasury |  |  |  | 983 |
Total securities available for sale |  | $ |  | 8,683 |
Loans held for sale |  | $ |  | 2,623 |
Derivative assets |  | $ |  | 3,730 |
Financial Liabilities: |  |  |  |
Derivative liabilities |  | $ |  | 3,730 |
Assets Measured At Fair Value On A Non-Recurring Basis | There were no assets or liabilities measured at fair value on a non-recurring basis at March 31, 2025 and December 31, 2024.
Aggregate Fair Value, Contractual Balance And Gain Or Loss | As of March 31, 2025 and December 31, 2024, the aggregate fair value, contractual balance and gain or loss on loans held for sale were as follows:
|  | March 31, 2025 |  |  | December 31, 2024 |
|  | (unaudited) |  |  |  |  |
Aggregate fair value |  | $ |  | 3,505 |  |  | $ |  | 2,623 |
Contractual balance |  |  |  | 3,505 |  |  |  |  | 2,623 |
Gain (loss) |  | $ |  | — |  |  | $ |  | — |
Total Amount Of Gains And Losses From Changes In Fair Value Included In Earnings | The total amount of gains and losses from changes in fair value included in earnings for the three months ended March 31, 2025 and 2024 for loans held for sale were:
|  | Three months ended March 31, |
|  | 2025 |  |  | 2024 |
|  | (unaudited) |
Interest income |  | $ |  | 35 |  |  | $ |  | 28 |
Interest expense |  |  |  | — |  |  |  |  | — |
Change in fair value |  |  |  | — |  |  |  |  | — |
Total change in fair value |  | $ |  | 35 |  |  | $ |  | 28 |
Carrying Amounts And Estimated Fair Values Of Financial Instruments | The carrying amounts and estimated fair values of financial instruments at March 31, 2025 were as follows:
|  | Fair Value Measurements at March 31, 2025 Using: |
|  | Carrying |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(unaudited) |  | Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ |  | 240,986 |  |  | $ |  | 240,986 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 240,986 |
Interest-bearing deposits in other financial institutions |  |  |  | 100 |  |  |  |  | 100 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 100 |
Securities available for sale |  |  |  | 8,793 |  |  |  |  | — |  |  |  |  | 8,793 |  |  |  |  | — |  |  |  |  | 8,793 |
Loans held for sale |  |  |  | 3,505 |  |  |  |  | — |  |  |  |  | 3,505 |  |  |  |  | — |  |  |  |  | 3,505 |
Loans and leases, net |  |  |  | 1,750,139 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 1,731,307 |  |  |  |  | 1,731,307 |
FHLB and FRB stock |  |  |  | 8,022 |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |
Accrued interest receivable |  |  |  | 9,174 |  |  |  |  | 333 |  |  |  |  | 212 |  |  |  |  | 8,629 |  |  |  |  | 9,174 |
Derivative assets |  |  |  | 3,352 |  |  |  |  | — |  |  |  |  | 3,352 |  |  |  |  | — |  |  |  |  | 3,352 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ |  | (1,783,689 | ) |  | $ |  | (1,076,864 | ) |  | $ |  | (706,759 | ) |  | $ |  | — |  |  | $ |  | (1,783,623 | )
FHLB advances and other borrowings |  |  |  | (92,689 | ) |  |  |  | — |  |  |  |  | (93,735 | ) |  |  |  | — |  |  |  |  | (93,735 | )
Advances by borrowers for taxes and insurance |  |  |  | (1,346 | ) |  |  |  | — |  |  |  |  | — |  |  |  |  | (1,346 | ) |  |  |  | (1,346 | )
Subordinated debentures |  |  |  | (15,009 | ) |  |  |  | — |  |  |  |  | (16,954 | ) |  |  |  | — |  |  |  |  | (16,954 | )
Accrued interest payable |  |  |  | (2,467 | ) |  |  |  | — |  |  |  |  | (2,467 | ) |  |  |  | — |  |  |  |  | (2,467 | )
Derivative liabilities |  |  |  | (3,352 | ) |  |  |  | — |  |  |  |  | (3,352 | ) |  |  |  | — |  |  |  |  | (3,352 | )
The carrying amounts and estimated fair values of financial instruments at December 31, 2024 were as follows:
|  | Fair Value Measurements at December 31, 2024 Using: |
|  | Carrying |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ |  | 235,272 |  |  | $ |  | 235,272 |  |  | $ |  | — |  |  | $ |  | — |  |  | $ |  | 235,272 |
Interest-bearing deposits in other financial institutions |  |  |  | 100 |  |  |  |  | 100 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 100 |
Securities available for sale |  |  |  | 8,683 |  |  |  |  | — |  |  |  |  | 8,683 |  |  |  |  | — |  |  |  |  | 8,683 |
Equity securities |  |  |  | 5,000 |  |  |  |  | — |  |  |  |  | 5,000 |  |  |  |  | — |  |  |  |  | 5,000 |
Loans held for sale |  |  |  | 2,623 |  |  |  |  | — |  |  |  |  | 2,623 |  |  |  |  | — |  |  |  |  | 2,623 |
Loans and leases, net |  |  |  | 1,722,019 |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 1,691,030 |  |  |  |  | 1,691,030 |
FHLB and FRB stock |  |  |  | 8,918 |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |
Accrued interest receivable |  |  |  | 8,395 |  |  |  |  | 182 |  |  |  |  | 151 |  |  |  |  | 8,062 |  |  |  |  | 8,395 |
Derivative assets |  |  |  | 3,730 |  |  |  |  | — |  |  |  |  | 3,730 |  |  |  |  | — |  |  |  |  | 3,730 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ |  | (1,755,795 | ) |  | $ |  | (1,065,780 | ) |  | $ |  | (689,282 | ) |  | $ |  | — |  |  | $ |  | (1,755,062 | )
FHLB advances and other borrowings |  |  |  | (92,680 | ) |  |  |  | — |  |  |  |  | (94,414 | ) |  |  |  | — |  |  |  |  | (94,414 | )
Advances by borrowers for taxes and insurance |  |  |  | (2,238 | ) |  |  |  | — |  |  |  |  | — |  |  |  |  | (2,238 | ) |  |  |  | (2,238 | )
Subordinated debentures |  |  |  | (15,000 | ) |  |  |  | — |  |  |  |  | (17,021 | ) |  |  |  | — |  |  |  |  | (17,021 | )
Accrued interest payable |  |  |  | (2,259 | ) |  |  |  | — |  |  |  |  | (2,259 | ) |  |  |  | — |  |  |  |  | (2,259 | )
Derivative liabilities |  |  |  | (3,730 | ) |  |  |  | — |  |  |  |  | (3,730 | ) |  |  |  | — |  |  |  |  | (3,730 | )

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- Definition Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 102 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-102 + Details
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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of information about asset and liability measured at fair value under fair value option. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-30 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-31 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-32 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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