Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2026

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
	March 31, 2026 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	$	14,887	$	-	$	14,887	$	-
State and political subdivisions		9		-		9		-
Mortgage backed securities and collateralized mortgage obligations - residential		205,209		-		205,209		-
Corporate bonds		69,137		-		69,137		-
Small Business Administration- guaranteed participation securities		10,796		-		10,796		-
Other securities		708		-		708		-
Total securities available for sale	$	300,746	$	-	$	300,746	$	-

	Fair Value Measurements at
	December 31, 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)
Securities available for sale:
U.S. government sponsored enterprises	$	31,772	$	-	$	31,772	$	-
State and political subdivisions		9		-		9		-
Mortgage backed securities and collateralized mortgage obligations - residential		206,290		-		206,290		-
Corporate bonds		59,932		-		59,932		-
Small Business Administration- guaranteed participation securities		11,710		-		11,710		-
Other securities		705		-		705		-
Total securities available for sale	$	310,418	$	-	$	310,418	$	-

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

March 31, 2026 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

$

1,364

$

-

$

-

$

1,364

Sales comparison approach

Adjustments for differences between comparable sales

0% - 58% (29

%)

Individually evaluated loans:

Commercial

157

-

-

157

Sales comparison approach

Adjustments for differences between comparable sales

0% - 52% (26

%)

Fair Value Measurements at

December 31, 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

$

1,394

$

-

$

-

$

1,394

Sales comparison approach

Adjustments for differences between comparable sales

0% - 58% (29

%)

Individually evaluated loans:

Real estate mortgage - 1 to 4 family

86

-

-

86

Sales comparison approach

Adjustments for differences between comparable sales

0% - 52% (26

%)

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 March 31, 2026 and December 31, 2025 are as follows:

(dollars in thousands)			Fair Value Measurements at
	Carrying		March 31, 2026 Using:
	Value		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	768,108	$	768,108	$	-	$	-	$	768,108
Securities available for sale		300,746				300,746		-		300,746
Held to maturity securities		4,097		-		4,134		-		4,134
Federal Home Loan Bank stock		6,601		N/A		N/A		N/A		N/A
Net loans		5,237,184		-		-		4,865,671		4,865,671
Accrued interest receivable		14,684		789		1,531		12,363		14,683
Financial liabilities:
Demand deposits		811,637		811,637		-		-		811,637
Interest bearing deposits		4,840,716		2,591,599		2,242,398		-		4,833,997
Short-term borrowings		112,930		-		112,930		-		112,930
Accrued interest payable		3,781		141		3,640		-		3,781

(dollars in thousands)			Fair Value Measurements at
	Carrying		December 31, 2025 Using:
	Value		Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents	$	730,427	$	730,427	$	-	$	-	$	730,427
Securities available for sale		310,418		-		310,418		-		310,418
Held to maturity securities		4,339		-		4,389		-		4,389
Federal Home Loan Bank stock		6,601		N/A		N/A		N/A		N/A
Net loans		5,200,255		-		-		4,803,366		4,803,366
Accrued interest receivable		13,828		325		1,266		12,237		13,828
Financial liabilities:
Demand deposits		814,908		814,908		-		-		814,908
Interest bearing deposits		4,742,509		2,604,094		2,132,833		-		4,736,927
Short-term borrowings		120,054		-		120,054		-		120,054
Accrued interest payable		3,646		159		3,487		-		3,646