Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Investments, All Other Investments [Abstract]

Schedule of Estimated Fair Values and Carrying Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at June 30, 2024 were as follows:

	Fair Value Measurements at June 30, 2024 Using
(in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total
Assets
Cash and due from banks	$	298,574	$	298,574	$	—	$	—	$	298,574
Federal funds sold	392		392		—		—		392
Securities, available for sale	37,403		—		27,375		10,028		37,403
Securities, held for maturity	321,164		—		251,247		—		251,247
Loans held for sale	—		—		—		—		—
Loans, net	2,803,063		—		—		2,650,629		2,650,629
Cash surrender value of BOLI	5,935		—		—		5,935		5,935
Accrued interest receivable	18,137		—		—		18,137		18,137
Liabilities
Deposits	$	3,043,451	$	—	$	—	$	3,041,490	3,041,490
Short-term advances from Federal Home Loan Bank	60,000						60,000		60,000
Short-term borrowings	—		—		—		—		—
Repurchase agreements	6,971		—		—		6,956		6,956
Accrued interest payable	12,991		—		—		12,991		12,991
Long-term advances from Federal Home Loan Bank	155,000		—		—		153,791		153,791
Senior long-term debt	17,156		—		—		17,289		17,289
Junior subordinated debentures	44,715		—		—		44,715		44,715

The carrying amounts and estimated fair values of financial instruments at December 31, 2023 were as follows:

			Fair Value Measurements at December 31, 2023 Using
(in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total
Assets
Cash and due from banks	$	286,114	$	286,114	$	—	$	—	$	286,114
Federal funds sold	341		341		—		—		341
Securities, available for sale	83,485		49,830		23,172		10,483		83,485
Securities, held for maturity	320,638		—		253,584		—		253,584
Loans, net	2,717,782		—		—		2,581,979		2,581,979
Cash surrender value of BOLI	5,861		—		—		5,861		5,861
Accrued interest receivable	15,713		—		—		15,713		15,713
Liabilities
Deposits	$	3,009,094	$	—	$	—	$	3,001,498	3,001,498
Short-term advances from Federal Home Loan Bank	50,000		—		—		50,000		50,000
Short-term borrowings	10,000		—		—		10,000		10,000
Repurchase agreements	6,297		—		—		6,285		6,285
Accrued interest payable	11,807		—		—		11,807		11,807
Long-term advances from Federal Home Loan Bank	155,000		—		—		152,299		152,299
Senior long-term debt	39,099		—		—		39,304		39,304
Junior subordinated debentures	15,000		—		—		15,000		15,000