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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2025

FAIR VALUE MEASUREMENTS

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


		December 31, 2025
		Level 1			Level 2			Level 3			Total
(in thousands)		Inputs			Inputs			Inputs			Fair Value
Available-for-sale debt securities:
Obligations of US Government-sponsored enterprises		$	—		$	1,102		$	—		$	1,102
Mortgage-backed securities:
US Government-sponsored enterprises			—			249,542			—			249,542
US Government agency			—			153,900			—			153,900
Private label			—			10,999			—			10,999
Obligations of states and political subdivisions thereof			—			104,539			—			104,539
Corporate bonds			—			75,139			2,203			77,342
Loans held for sale			—			5,283			—			5,283
Derivative assets			—			8,708			98			8,806
Derivative liabilities			—			(6,670)			(14)			(6,684)


		December 31, 2024
		Level 1			Level 2			Level 3			Total
(in thousands)		Inputs			Inputs			Inputs			Fair Value
Available-for-sale debt securities:
Obligations of US Government-sponsored enterprises		$	—		$	1,318		$	—		$	1,318
Mortgage-backed securities:
US Government-sponsored enterprises			—			177,316			—			177,316
US Government agency			—			103,916			—			103,916
Private label			—			39,564			—			39,564
Obligations of states and political subdivisions thereof			—			105,452			—			105,452
Corporate bonds			—			93,452			—			93,452
Loans held for sale			—			1,235			—			1,235
Derivative assets			—			18,759			98			18,857
Derivative liabilities			—			(16,565)			—			(16,565)

Schedule of Changes in Level 3 Assets Measured on a Recurring Basis


		Assets (Liabilities)
		Interest Rate Lock			Forward			Corporate
(in thousands)		Commitments			Commitments			Bond
Year Ended December 31, 2025
Balance at beginning of period		$	85		$	13		$	—
Transfer into level 3 at the end of the period			—			—			2,403
Realized gain (loss) recognized in non-interest income			13			(27)			(200)
Balance at end of period		$	98		$	(14)		$	2,203

Year Ended December 31, 2024
Balance at beginning of period		$	63		$	(20)		$	—
Realized gain (loss) recognized in non-interest income			22			33			—
Balance at end of period		$	85		$	13		$	—

Schedule of Changes in Level 3 Liabilities Measured on a Recurring Basis


		Assets (Liabilities)
		Interest Rate Lock			Forward			Corporate
(in thousands)		Commitments			Commitments			Bond
Year Ended December 31, 2025
Balance at beginning of period		$	85		$	13		$	—
Transfer into level 3 at the end of the period			—			—			2,403
Realized gain (loss) recognized in non-interest income			13			(27)			(200)
Balance at end of period		$	98		$	(14)		$	2,203

Year Ended December 31, 2024
Balance at beginning of period		$	63		$	(20)		$	—
Realized gain (loss) recognized in non-interest income			22			33			—
Balance at end of period		$	85		$	13		$	—

Schedule of Quantitative Information, Valuation, Recurring


		Fair Value							Significant
		December 31,			Valuation		Unobservable		Unobservable
(in thousands, except ratios)		2025			Techniques		Inputs		Input Value
Assets (Liabilities)
Interest Rate Lock Commitment		$	98		Pull-through Rate Analysis		Closing Ratio			96	%
					Pricing Model		Origination Costs, per loan		$	1.7
					Discount Cash Flows		Mortgage Servicing Asset			1.0	%

Forward Commitments			(14)		Quoted prices for similar loans in active markets		Freddie Mac pricing system			$100.7 to $103.4

Corporate bond			2,203		Discounted Cash Flows		Discount Rate			7.39	%
							Cash Flows			$0 to $2,203
							Loss Severity			65	%
Total		$	2,287

		Fair Value							Significant
		December 31,			Valuation		Unobservable		Unobservable
(in thousands, except ratios)		2024			Techniques		Inputs		Input Value
Assets (Liabilities)
Interest Rate Lock Commitment		$	85		Pull-through Rate Analysis		Closing Ratio			93	%
					Pricing Model		Origination Costs, per loan		$	1.7
					Discount Cash Flows		Mortgage Servicing Asset			1.0	%

Forward Commitments			13		Quoted prices for similar loans in active markets		Freddie Mac pricing system			$99 to $102.9
Total		$	98

Summary of Applicable Non-Recurring Fair Value Measurements


											Fair Value
								Year Ended			Measurement Date as of
		Dec 31, 2025			Dec 31, 2024			December 31, 2025			December 31, 2025
		Level 3			Level 3			Total			Level 3
(in thousands)		Inputs			Inputs			Gains (Losses)			Inputs
Assets
Individually evaluated loans		$	5,686		$	3,224		$	2,462		December 2025
Capitalized servicing rights			6,832			7,285			(453)		December 2025
Premises held for sale			—			419			(419)		December 2025
Total		$	12,518		$	10,928		$	1,590

Schedule of Quantitative Information, Valuation, Non-recurring


(in thousands, except ratios)		Fair Value December 31, 2025			Valuation Techniques		Unobservable Inputs		Range (Weighted Average)^(a)
Assets
Individually evaluated loans
Commercial Real Estate Owner Occupied		$	378		Fair value of collateral-appraised value		Loss severity			33% to 60%
							Appraised value			$250 to $975
Commercial Real Estate Non-Owner Occupied			1,985		Fair value of collateral-appraised value		Loss severity			20% to 40%
							Appraised value			$1,700 to $1,775
Commercial and Industrial			2,410		Fair value of collateral-appraised value		Loss severity			5% to 80%
							Appraised value			$212 to $1,112
Residential Real Estate			318		Fair value of collateral-appraised value		Loss severity			20%
							Appraised value			$240
Home Equity			119		Fair value of collateral-appraised value		Loss severity			20%
							Appraised value			$442
Residential Real Estate			476		Discounted cash flow		Discount rate			4.00% to 4.99%
							Cash flows			$476 to $481

Capitalized servicing rights			6,832		Discounted cash flow		Constant prepayment rate			8.97%
							Discount rate			9.62%
Total		$	12,518

(a)	Where dollar amounts are disclosed, the amounts represent the lowest and highest fair value of the respective assets in the population except for adjustments for market/property conditions, which represents the range of adjustments to individuals properties.



(in thousands, except ratios)		Fair Value December 31, 2024			Valuation Techniques		Unobservable Inputs		Range (Weighted Average)^(a)
Assets
Individually evaluated loans
Commercial Real Estate Owner Occupied		$	686		Fair value of collateral-appraised value		Loss severity			10%
							Appraised value			$1,260
Commercial Real Estate Non-Owner Occupied			184		Fair value of collateral-appraised value		Loss severity			33%
							Appraised value			$550
Commercial and Industrial			691		Fair value of collateral-appraised value		Loss severity			45% to 65%
							Appraised value			$632 to $852
Residential Real Estate			1,172		Fair value of collateral-appraised value		Loss severity			10% to 65%
							Appraised value			$257 to $670
Residential Real Estate			491		Discount cash flow		Discount rate			4.00% to 4.99%
							Cash flows			$497 to $501

Capitalized servicing rights			7,285		Discounted cash flow		Constant prepayment rate			6.52%
							Discount rate			10.06%

Premises held for sale			419		Fair value of asset less selling costs		Appraised value			$440
							Selling Costs			5%
Total		$	10,928

(a)	Where dollar amounts are disclosed, the amounts represent the lowest and highest fair value of the respective assets in the population except for adjustments for market/property conditions, which represents the range of adjustments to individuals properties.

Summary of Estimated Fair Values, and Related Carrying Amounts, of Financial Instruments


		December 31, 2025
		Carrying			Fair
(in thousands)		Amount			Value			Level 1			Level 2			Level 3
Financial Assets
Cash and cash equivalents		$	80,837		$	80,837		$	80,837		$	—		$	—
Available-for-sale debt securities			597,424			597,424			—			595,221			2,203
FHLB stock			11,308			n/a			n/a			n/a			n/a
Loans held for sale			5,283			5,283			—			5,283			—
Net loans			3,571,807			3,505,278			—			—			3,505,278
Accrued interest receivable			15,047			15,047			13			3,496			11,538
Derivative assets			8,806			8,806			—			8,708			98

Financial Liabilities
Non-maturity deposits		$	2,908,688		$	2,740,925		$	—		$	2,740,925		$	—
Time deposits			912,594			910,213			—			910,213			—
Securities sold under agreements to repurchase			4,801			4,801			—			4,801			—
FHLB advances			212,016			211,988			—			211,756			232
Subordinated borrowings			52,825			49,746			—			49,746			—
Accrued interest payable			6,256			6,256			—			6,256			—
Derivative liabilities			6,684			6,684			—			6,670			14


		December 31, 2024
		Carrying			Fair
(in thousands)		Amount			Value			Level 1			Level 2			Level 3
Financial Assets
Cash and cash equivalents		$	72,162		$	72,162		$	72,162		$	—		$	—
Available-for-sale debt securities			521,018			521,018			—			521,018			—
FHLB stock			12,237			12,237			—			12,237			—
Loans held for sale			1,235			1,235			—			1,235			—
Net loans			3,147,096			2,999,290			—			—			2,999,290
Accrued interest receivable			3,974			3,974			—			3,974			—
Cash surrender value of bank-owned life insurance policies			81,858			81,858			—			81,858			—
Derivative assets			18,857			18,857			—			18,759			98

Financial Liabilities
Non-maturity deposits		$	2,437,414		$	2,282,389		$	—		$	2,282,389		$	—
Time deposits			830,274			828,068			—			828,068			—
Securities sold under agreements to repurchase			7,062			7,062			—			7,062			—
FHLB advances			242,919			242,779			—			242,779			—
Subordinated borrowings			40,620			46,070			—			46,070			—
Derivative liabilities			16,565			16,565			—			16,565			—

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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