Fair Value (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value

Reconciliation of Level 3 Securities Measured at Fair Value on Recurring Basis

	For the three months ended
	March 31, 2025					March 31, 2024
(In thousands)	Corporate Debt		Restricted Stock		Corporate Debt		Restricted Stock
Balance of recurring Level 3 assets at January 1	$	6,488	$	—	$	7,979	$	—
Activity
Transfers from corporate debt to restricted stock		(818)		818		—		—
Unrealized holding gains included in other comprehensive income		95		—		—		—
Balance of recurring Level 3 assets at March 31	$	5,765	$	818	$	7,979	$	—

Balances of Assets Measured at Fair Value on Recurring Basis

	Fair Value Measurements at March 31, 2025
			Quoted Prices in
	Assets		Active Markets		Significant Other		Significant
	Measured at Fair		for Identical		Observable		Unobservable
(In thousands)	Value		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)
Measured on a recurring basis:
Assets:
Debt securities available for sale:
U.S. Government sponsored entities	$	14,853	$	—	$	14,853	$	—
State and political subdivisions		330		—		330		—
Residential mortgage-backed securities		12,316		—		12,316		—
Asset backed securities		35,275		—		35,275		—
Corporate and other securities		27,664		—		21,899		5,765
Total debt securities available for sale	$	90,438	$	—	$	84,673	$	5,765
Equity securities	$	10,707	$	9,889	$	—	$	818
Total equity securities	$	10,707	$	9,889	$	—	$	818
Interest rate swap agreements	$	408	$	—	$	408	$	—
Total interest rate swap agreements	$	408	$	—	$	408	$	—

	Fair value Measurements at December 31, 2024
			Quoted Prices in
	Assets		Active Markets		Significant Other		Significant
	Measured at Fair		for Identical		Observable		Unobservable
(In thousands)	Value		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)
Measured on a recurring basis:
Assets:
Debt securities available for sale:
U.S. Government sponsored entities	$	14,759	$	—	$	14,759	$	—
State and political subdivisions		333		—		333		—
Residential mortgage-backed securities		12,286		—		12,286		—
Asset backed securities		39,392		—		39,392		—
Corporate and other securities		27,114		—		20,626		6,488
Total debt securities available for sale	$	93,884	$	—	$	87,396	$	6,488
Equity securities with readily determinable fair values	$	9,850	$	9,850	$	—	$	—
Total equity securities	$	9,850	$	9,850	$	—	$	—
Interest rate swap agreements	$	742	$	—	$	742	$	—
Total interest rate swap agreements	$	742	$	—	$	742	$	—

Assets and Liabilities Carried on the Balance Sheet by Caption And By Level Within The Hierarchy

	Fair Value Measurements at March 31, 2025
			Quoted Prices		Significant
			in Active		Other		Significant
	Assets		Markets for		Observable		Unobservable
	Measured at Fair		Identical Assets		Inputs		Inputs
(In thousands)	Value		(Level 1)		(Level 2)		(Level 3)
Measured on a non-recurring basis:
Financial assets:
Collateral-dependent loans	$	6,172	$	—	$	—	$	6,172

	Fair Value Measurements at December 31, 2024
			Quoted Prices		Significant
			in Active		Other		Significant
	Assets		Markets for		Observable		Unobservable
	Measured at Fair		Identical Assets		Inputs		Inputs
(In thousands)	Value		(Level 1)		(Level 2)		(Level 3)
Measured on a non-recurring basis:
Financial assets:
Collateral-dependent loans	$	6,520	$	—	$	—	$	6,520

Carrying Amount and Estimated Fair Values of Financial Instruments

	March 31, 2025
	Carrying
(In thousands)	amount		Level 1		Level 2		Level 3
Financial assets:
Debt securities held to maturity	$	40,947	$	—	$	34,458	$	—
Loans held for sale		14,000		—		14,680		—
Loans, net of allowance for credit losses		2,303,479		—		2,249,052		6,172
Financial liabilities:
Deposits		2,175,398		—		2,171,342		—
Borrowed funds and subordinated debentures		253,602		—		253,784		—

	December 31, 2024
	Carrying
(In thousands)	amount		Level 1		Level 2		Level 3
Financial assets:
Debt securities held to maturity	$	41,294	$	—	$	33,814	$	—
Loans held for sale		12,163		—		12,896		—
Loans, net of allowance for credit losses		2,221,706		—		2,152,080		6,520
Financial liabilities:
Deposits		2,100,313		—		2,095,365		—
Borrowed funds and subordinated debentures		230,814		—		230,576		—