FAIR VALUE DISCLOSURES (Tables)

9 Months Ended

Sep. 30, 2025

FAIR VALUE DISCLOSURES [Abstract]

Assets (Liabilities) Measured at Fair Value on Recurring and Non-Recurring Basis

The following table summarizes fair value measurements as of the dates indicated below (dollars in thousands):

	Level 1		Level 2			Level 3		Total
September 30, 2025
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
State and municipal	$	—	$	175,147		$	—	$	175,147
Residential mortgage-backed securities		—		264,026			—		264,026
Commercial mortgage-backed securities		—		43,296			—		43,296
Commercial collateralized mortgage obligations		—		68,089			—		68,089
Asset-backed and other amortizing securities		—		13,705			—		13,705
Other securities		—		6,875			—		6,875
Loans held for sale (mandatory)		—		9,912			—		9,912
Mortgage servicing rights		—		—			24,458		24,458
Asset derivatives		—		10,895			—		10,895
Liability derivatives		—		(75	)		—		(75	)
Assets measured at fair value on a non-recurring basis:
Loans held for investment		—		—			7,230		7,230
December 31, 2024
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
State and municipal	$	—	$	173,297		$	—	$	173,297
Residential mortgage-backed securities		—		264,096			—		264,096
Commercial mortgage-backed securities		—		40,360			—		40,360
Commercial collateralized mortgage obligations		—		73,483			—		73,483
Asset-backed and other amortizing securities		—		14,581			—		14,581
Other securities		—		11,423			—		11,423
Loans held for sale (mandatory)		—		13,791			—		13,791
Mortgage servicing rights		—		—			26,292		26,292
Asset derivatives		—		15,998			—		15,998
Liability derivatives		—		(12	)		—		(12	)
Assets measured at fair value on a non-recurring basis:
Loans held for investment		—		—			20,566		20,566

Quantitative Information about Recurring and Non-Recurring Level 3 Fair Value Measurements

The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at the dates indicated (dollars in thousands):

	Fair Value		Valuation Techniques	Unobservable Inputs	Range of Discounts
September 30, 2025
Non-recurring:
Loans held for investment	$	7,230	Third party appraisals or inspections	Collateral discounts and selling costs	20% to 50%
Recurring:
Mortgage servicing rights		24,458	Discounted cash flows	Constant prepayment rate		8.22	%
				Discount rate		9.70	%
December 31, 2024
Non-recurring:
Loans held for investment	$	20,566	Third party appraisals or inspections	Collateral discounts and selling costs		20	%
Recurring:
Mortgage servicing rights		26,292	Discounted cash flows	Constant prepayment rate		7.16	%
				Discount rate		10.17	%

Estimated Fair Values, and Related Carrying Amounts of Financial Instruments

The estimated fair values, and related carrying amounts, of the Company’s financial instruments that are not previously disclosed in the recurring fair values section are as follows (dollars in thousands):

	Carrying Amount		Level 1		Level 2		Level 3		Total Fair Value
September 30, 2025
Financial assets:
Cash and cash equivalents	$	635,046	$	635,046	$	—	$	—	$	635,046
Loans held for investment, net		3,009,378		—		—		2,982,640		2,982,640
Loans held for sale (best efforts)		3,134		—		3,193		—		3,193
Accrued interest receivable		18,012		—		18,012		—		18,012
Financial liabilities:
Deposits		3,881,143		—		3,880,874		—		3,880,874
Accrued interest payable		4,671		—		4,671		—		4,671
Short-term borrowings		—		—		—		—		—
Junior subordinated deferrable interest debentures		46,393		—		34,827		—		34,827
Subordinated debt		14,100		—		14,012		—		14,012

December 31, 2024
Financial assets:
Cash and cash equivalents	$	359,082	$	359,082	$	—	$	—	$	359,082
Loans held for investment, net		3,011,817		—		—		2,937,678		2,937,678
Loans held for sale (best efforts)		6,751		—		6,875		—		6,875
Accrued interest receivable		21,687		—		21,687		—		21,687
Financial liabilities:
Deposits		3,620,876		—		3,621,106		—		3,621,106
Accrued interest payable		6,108		—		6,108		—		6,108
Junior subordinated deferrable interest debentures		46,393		—		34,285		—		34,285
Subordinated debt		63,961		—		60,969		—		60,969