Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Summary of Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of the Company’s financial instruments are presented in the following table. Fair values for September 30, 2024 and December 31, 2023 were estimated using an exit price notion.

September 30, 2024	Carrying Amount		Fair Value		Fair Value Measurements
Description of Asset ($ in thousands)					Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	183,621	$	183,621	$	183,621	$	—	$	—
Investment securities - AFS	133,339		133,339		—		133,339		—
Investment securities - HTM, net	484,583		440,296		—		440,296		—
Equity securities	5,950		5,950		—		5,950		—
Restricted securities	20,253		20,253		—		20,253		—
Loans held for sale	26,877		26,877		—		26,877		—
TBA derivatives trades	46		46		—		46		—
Cash surrender value on life insurance	103,729		103,729		—		103,729		—
Loans, at fair value	10,023		10,023		—		10,023		—
Loans, net	4,665,217		4,499,722		—		—		4,499,722
MSRs	5,309		5,309		—		—		5,309
IRLCs	219		219		—		—		219
Liabilities
Deposits:
Noninterest-bearing demand	$	1,571,393	$	1,571,393	$	—	$	1,571,393	$	—
Checking plus interest	751,533		751,533		—		751,533		—
Money Market	1,297,237		1,297,237		—		1,297,237		—
Savings	335,161		335,161		—		335,161		—
Club	1,742		1,742		—		1,742		—
Certificates of Deposit	1,268,657		1,270,865		—		1,270,865		—
Advances from FHLB	50,000		50,545		—		50,545		—
Subordinated debt, net	43,688		43,461		—		43,461		—
TRUPS, net	29,768		28,572		—		28,572		—
TBA Securities	37		37		—		37		—

December 31, 2023	Carrying Amount		Fair Value		Fair Value Measurements
Description of Asset ($ in thousands)					Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	372,413	$	372,413	$	372,413	$	—	$	—
Investment securities - AFS	110,521		110,521		—		110,521		—
Investment securities - HTM	513,188		457,830		—		457,830		—
Equity securities	5,703		5,703		—		5,703		—
Loans held for sale	8,782		8,782		—		8,782		—
TBA securities	2		2		—		2		—
Cash surrender value on life insurance	101,704		101,704		—		101,704		—
Loans, at fair value	9,944		9,944		—		9,944		—
Loans, net	4,573,715		4,477,468		—		—		4,477,468
MSRs	5,926		5,926		—		—		5,926
IRLCs	110		110		—		—		110
Liabilities
Deposits:
Noninterest-bearing demand	$	1,258,037	$	1,258,037	$	—	$	1,258,037	$	—
Checking plus interest	1,165,546		1,165,546		—		1,165,546		—
Money Market	1,430,603		1,430,603		—		1,430,603		—
Savings	347,324		347,324		—		347,324		—
Certificates of Deposit	1,184,610		1,184,447		—		1,184,447		—
Subordinated debt, net	43,139		42,579		—		42,579		—
TRUPS, net	29,530		28,266		—		28,266		—
TBA Securities	176		176		—		176		—