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Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2025
Fair Value of Financial Instruments [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis
Assets and liabilities measured at fair value under ASC 820 on a recurring basis are summarized below:

   
Fair Value Measurements at
 
   
September 30, 2025 Using:
 
               
Significant
       
         
Quoted Prices in
   
Other
   
Significant
 
         
Active Markets for
   
Observable
   
Unobservable
 
   
Carrying
   
Identical Assets
   
Inputs
   
Inputs
 
(dollars in thousands)
 
Value
   
(Level 1)
   
(Level 2)
   
(Level 3)
 
                         
U.S. government sponsored enterprises
 
$
51,557
   
$
-
   
$
51,557
   
$
-
 
State and political subdivisions
   
18
     
-
     
18
     
-
 
Mortgage backed securities and collateralized mortgage obligations - residential
   
215,466
     
-
     
215,466
     
-
 
Corporate bonds
   
39,800
     
-
     
39,800
     
-
 
Small Business Administration- guaranteed participation securities
   
12,330
     
-
     
12,330
     
-
 
Other securities
   
701
     
-
     
701
     
-
 
                                 
Total securities available for sale
 
$
319,872
   
$
-
   
$
319,872
   
$
-
 

   
Fair Value Measurements at
 
   
December 31, 2024 Using:
 
               
Significant
       
         
Quoted Prices in
   
Other
   
Significant
 
         
Active Markets for
   
Observable
   
Unobservable
 
   
Carrying
   
Identical Assets
   
Inputs
   
Inputs
 
(dollars in thousands)
 
Value
   
(Level 1)
   
(Level 2)
   
(Level 3)
 
                         
Securities available for sale:
                       
U.S. government sponsored enterprises
 
$
85,617
   
$
-
   
$
85,617
   
$
-
 
State and political subdivisions
   
18
     
-
     
18
     
-
 
Mortgage backed securities and collateralized mortgage obligations - residential
   
213,128
     
-
     
213,128
     
-
 
Corporate bonds
   
44,581
     
-
     
44,581
     
-
 
Small Business Administration- guaranteed participation securities
   
14,141
     
-
     
14,141
     
-
 
Other securities
   
700
     
-
     
700
     
-
 
                                 
Total securities available for sale
 
$
358,185
   
$
-
   
$
358,185
   
$
-
 
Assets Measured at Fair Value on Non-Recurring Basis
Assets measured at fair value on a non-recurring basis are summarized below:

   
Fair Value Measurements at
                   
   
September 30, 2025 Using:
                       
               
Significant
                       
         
Quoted Prices in
Other
Significant
                     
         
Active Markets for
Observable
Unobservable
                     
   
Carrying
Identical Assets
Inputs
Inputs
                     
(dollars in thousands)
 
Value
(Level 1)
(Level 2)
(Level 3)
 
Valuation technique
 
Unobservable inputs
 
Range (Weighted Average)
 
                                                     
Other real estate owned
$
1,234

$
-

$
-

$
1,234
 
Sales comparison approach
 
Adjustments for differences between comparable sales
 
8% (8
%)

   
Fair Value Measurements at
                   
   
December 31, 2024 Using:
                       
               
Significant
                       
         
Quoted Prices in
Other
Significant
                     
         
Active Markets for
Observable
Unobservable
                     
   
Carrying
Identical Assets
Inputs
Inputs
                     
(dollars in thousands)
 
Value
(Level 1)
(Level 2)
(Level 3)
 
Valuation technique
 
Unobservable inputs
 
Range (Weighted Average)
 
                                                     
Other real estate owned
$
2,174

$
-

$
-

$
2,174
 
Sales comparison approach
 
Adjustments for differences between comparable sales
 
0% - 44% (18
%)

Carrying Amounts and Estimated Fair Values of Financial Instruments
In accordance with FASB Topic 825, Financial Instruments (“ASC 825”), the carrying amounts and estimated fair values of financial instruments, at September 30, 2025 and December 31, 2024 are as follows:

(dollars in thousands)
       
Fair Value Measurements at
 
   
Carrying
   
September 30, 2025 Using:
 
   
Value
   
Level 1
   
Level 2
   
Level 3
   
Total
 
Financial assets:
                             
Cash and cash equivalents
 
$
695,556
   
$
695,556
   
$
-
   
$
-
   
$
695,556
 
Securities available for sale
   
319,872
             
319,872
     
-
     
319,872
 
Held to maturity securities
   
4,593
     
-
     
4,629
     
-
     
4,629
 
 Federal Home Loan Bank stock
   
6,601
     
N/A
     
N/A
     
N/A
     
N/A
 
Net loans
   
5,139,879
     
-
     
-
     
4,737,662
     
4,737,662
 
Accrued interest receivable
   
14,556
     
826
     
1,340
     
12,390
     
14,556
 
Financial liabilities:
                                       
Demand deposits
   
795,508
     
795,508
     
-
     
-
     
795,508
 
Interest bearing deposits
   
4,685,765
     
2,544,833
     
2,133,520
     
-
     
4,678,353
 
Short-term borrowings
   
97,749
     
-
     
97,749
     
-
     
97,749
 
Accrued interest payable
   
3,516
     
201
     
3,315
     
-
     
3,516
 

(dollars in thousands)
       
Fair Value Measurements at
 
   
Carrying
   
December 31, 2024 Using:
 
   
Value
   
Level 1
   
Level 2
   
Level 3
   
Total
 
Financial assets:
                             
Cash and cash equivalents
 
$
641,812
   
$
641,812
   
$
-
   
$
-
   
$
641,812
 
Securities available for sale
   
358,185
     
-
     
358,185
     
-
     
358,185
 
Held to maturity securities
   
5,365
     
-
     
5,306
     
-
     
5,306
 
Federal Home Loan Bank stock
   
6,507
     
N/A
     
N/A
     
N/A
     
N/A
 
Net loans
   
5,047,810
     
-
     
-
     
4,589,822
     
4,589,822
 
Accrued interest receivable
   
13,194
     
271
     
1,317
     
11,606
     
13,194
 
Financial liabilities:
                                       
Demand deposits
   
762,101
     
762,101
     
-
     
-
     
762,101
 
Interest bearing deposits
   
4,628,882
     
2,579,123
     
2,038,200
     
-
     
4,617,323
 
Short-term borrowings
   
84,781
     
-
     
84,781
     
-
     
84,781
 
Accrued interest payable
   
3,817
     
216
     
3,601
     
-
     
3,817