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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Fair Value, Assets and Liabilities, Measured on Recurring Basis [Table]

The following tables summarize the balances of assets and liabilities measured at fair value on a recurring basis at the dates indicated:


	March 31, 2026
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Assets
Investment securities available for sale:
U.S. government and agency securities	$	11,861	$	—	$	11,861	$	—
Municipal securities	63,972		—		63,972		—
Residential CMO and MBS(1)	497,228		—		497,228		—
Commercial CMO and MBS(1)	396,816		—		396,816		—
Corporate obligations	11,580		—		11,580		—
Other asset-backed securities	19,691		—		19,691		—
Total investment securities available for sale	1,001,148		—		1,001,148		—
Equity security	488		488		—		—
Derivative assets - interest rate swaps	16,624		—		16,624		—
Liabilities
Derivative liabilities - interest rate swaps	$	16,624	$	—	$	16,624	$	—

(1) U.S. government agency and government-sponsored enterprise CMO and MBS.


	December 31, 2025
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Assets
Investment securities available for sale:
U.S. government and agency securities	$	11,702	$	—	$	11,702	$	—
Municipal securities	51,423		—		51,423		—
Residential CMO and MBS(1)	275,268		—		275,268		—
Commercial CMO and MBS(1)	252,164		—		252,164		—
Corporate obligations	10,532		—		10,532		—
Other asset-backed securities	6,433		—		6,433		—
Total investment securities available for sale	607,522		—		607,522		—
Equity security	265		265		—		—
Derivative assets - interest rate swaps	14,434		—		14,434		—
Liabilities
Derivative liabilities - interest rate swaps	$	14,434	$	—	$	14,434	$	—

(1) U.S. government agency and government-sponsored enterprise CMO and MBS.

Schedule of Fair Value, Assets, Nonrecurring Basis [Table]

The following tables present assets measured at fair value on a nonrecurring basis at the dates indicated:


	Fair Value at March 31, 2026
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Collateral-dependent loans:
Commercial business:
Commercial and industrial	$	1,882	$	—	$	—	$	1,882










Other real estate owned:
Residential	755		—		—		755


Total assets measured at fair value on a nonrecurring basis	$	2,637	$	—	$	—	$	2,637


	Fair Value at December 31, 2025
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Collateral-dependent loans:





Residential real estate	806		—		—		806








Total assets measured at fair value on a nonrecurring basis	$	806	$	—	$	—	$	806

Schedule of Fair Value Measurements, Non-recurring Basis, Level 3 [Table]

The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at the dates indicated:

March 31, 2026

Fair
Value

Valuation
Technique(s)

Unobservable Input(s)

Range of Inputs

Weighted

Average(1)

(Dollars in thousands)

Collateral-dependent loans

1,882

Market approach

Adjustments to reflect current conditions and selling costs

10.0% - 10.0%

10.0%

Other real estate owned

755

Market approach

Adjustments to reflect current conditions and selling costs

10.0%- 16.1%

13.1%

December 31, 2025

Fair
Value

Valuation
Technique(s)

Unobservable Input(s)

Range of Inputs

Weighted

Average(1)

(Dollars in thousands)

Collateral-dependent loans

806

Market approach

Adjustments to reflect current conditions and selling costs

10.0% - 10.0%

10.0%

(1) Weighted by net discount to net appraisal fair value

Schedule of Fair Value, Financial Instruments, Carrying Value [Table]

The following tables present the carrying value of the Company’s financial instruments and their corresponding estimated fair values at the dates indicated:


	March 31, 2026
	Carrying Value		Fair Value		Fair Value Measurements Using:
					Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial Assets:
Cash and cash equivalents	$	268,143	$	268,143	$	268,143	$	—	$	—
Investment securities available for sale	1,001,148		1,001,148		—		1,001,148		—
Investment securities held to maturity	668,263		617,490		—		617,490		—

Loans receivable, net	5,661,687		5,677,810		—		—		5,677,810

Derivative assets - interest rate swaps	16,624		16,624		—		16,624		—
Equity security	488		488		488		—		—
Financial Liabilities:
Non-maturity deposits	$	6,121,859	$	6,121,859	$	6,121,859	$	—	$	—
Certificates of deposit	1,126,678		1,132,833		—		1,132,833		—
Borrowings	20,000		20,218		—		20,218		—

Junior subordinated debentures	22,424		20,990		—		—		20,990

Derivative liabilities - interest rate swaps	16,624		16,624		—		16,624		—


	December 31, 2025
	Carrying Value		Fair Value		Fair Value Measurements Using:
					Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial Assets:
Cash and cash equivalents	$	233,089	$	233,089	$	233,089	$	—	$	—
Investment securities available for sale	607,522		607,522		—		607,522		—
Investment securities held to maturity	674,107		625,287		—		625,287		—

Loans receivable, net	4,730,682		4,740,417		—		—		4,740,417

Derivative assets - interest rate swaps	14,434		14,434		—		14,434		—
Equity security	265		265		265		—		—
Financial Liabilities:
Non-maturity deposits	$	4,982,336	$	4,982,336	$	4,982,336	$	—	$	—
Certificates of deposit	937,863		942,011		—		942,011		—
Borrowings	20,000		20,044		—		20,044		—

Junior subordinated debentures	22,350		21,102		—		—		21,102

Derivative liabilities - interest rate swaps	14,434		14,434		—		14,434		—