Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Summary of Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of the Company’s financial instruments are presented in the following table. Fair values for March 31, 2024 and December 31, 2023 were estimated using an exit price notion.

March 31, 2024	Carrying Amount		Fair Value		Fair Value Measurements
Description of Asset (dollars in thousands)					Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	114,560	$	114,560	$	114,560	$	—	$	—
Investment securities - AFS	179,496		179,496		—		179,496		—
Investment securities - HTM, net	503,822		444,258		—		444,258		—
Equity securities	5,681		5,681		—		5,681		—
Restricted securities	17,863		17,863		—		17,863		—
Loans held for sale	13,767		13,767		—		13,767		—
TBA derivatives trades	10		10		—		10		—
Cash surrender value on life insurance	102,321		102,321		—		102,321		—
Loans, at fair value	9,684		9,684		—		9,684		—
Loans, net	4,581,705		4,397,048		—		—		4,397,048
MSRs	5,821		5,821		—		—		5,821
IRLCs	233		233		—		—		233
Liabilities
Deposits:
Noninterest-bearing demand	$	1,200,680	$	1,200,680	$	—	$	1,200,680	$	—
Checking plus interest	1,101,954		1,101,954		—		1,101,954		—
Money Market	1,358,205		1,358,205		—		1,358,205		—
Savings	353,213		353,213		—		353,213		—
Club	885		885		—		885		—
Certificates of Deposit	1,169,342		1,168,144		—		1,168,144		—
Subordinated debt, net	43,322		42,498		—		42,498		—
TRUPS, net	29,237		28,049		—		28,049		—
TBA Securities	108		108		—		108		—
IRLCs	1		1		—		—		1

December 31, 2023	Carrying Amount		Fair Value		Fair Value Measurements
Description of Asset (dollars in thousands)					Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	372,413	$	372,413	$	372,413	$	—	$	—
Investment securities - AFS	110,521		110,521		—		110,521		—
Investment securities - HTM	513,188		457,830		—		457,830		—
Equity securities	5,703		5,703		—		5,703		—
Restricted securities	17,900		17,900		—		17,900		—
Loans held for sale	8,782		8,782		—		8,782		—
TBA securities	2		2		—		2		—
Cash surrender value on life insurance	101,704		101,704		—		101,704		—
Loans, at fair value	9,944		9,944		—		9,944		—
Loans, net	4,573,715		4,477,468		—		—		4,477,468
MSRs	5,926		5,926		—		—		5,926
IRLCs	110		110		—		—		110
Liabilities
Deposits:
Noninterest-bearing demand	$	1,258,037	$	1,258,037	$	—	$	1,258,037	$	—
Checking plus interest	1,165,546		1,165,546		—		1,165,546		—
Money Market	1,430,603		1,430,603		—		1,430,603		—
Savings	347,324		347,324		—		347,324		—
Certificates of Deposit	1,184,610		1,184,447		—		1,184,447		—
Subordinated debt, net	43,139		42,579		—		42,579		—
TRUPS, net	29,158		28,266		—		28,266		—
TBA Securities	176		176		—		176		—