FIRST BUSINESS FINANCIAL SERVICES, INC., 10-K filed on 2/25/2026
Annual Report
v3.25.4
Cover Page - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Feb. 23, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Document Transition Report false    
Entity File Number 001-34095    
Entity Registrant Name FIRST BUSINESS FINANCIAL SERVICES, INC.    
Entity Incorporation, State or Country Code WI    
Entity Tax Identification Number 39-1576570    
Entity Address, Address Line One 401 Charmany Drive    
Entity Address, City or Town Madison    
Entity Address, State or Province WI    
Entity Address, Postal Zip Code 53719    
City Area Code 608    
Local Phone Number 238-8008    
Title of 12(b) Security Common Stock, $0.01 par value    
Trading Symbol FBIZ    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
ICFR Auditor Attestation Flag true    
Entity Filer Category Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding   8,342,827  
Entity Central Index Key 0001521951    
Current Fiscal Year End Date --12-31    
Document Fiscal Year Focus 2025    
Documents Incorporated by Reference

Part III – Portions of the Proxy Statement for the Annual Meeting of Shareholders to be held on April 24, 2026 are incorporated by reference into Part III hereof.

    
Document Fiscal Period Focus FY    
Entity Public Float     $ 421.4
Amendment Flag false    
Auditor Name Crowe LLP    
Auditor Location Oakbrook Terrace, Illinois    
Auditor Firm ID 173    
Auditor Opinion

Opinions on the Financial Statements and Internal Control over Financial Reporting

We have audited the accompanying consolidated balance sheets of First Business Financial Services, Inc. (the "Corporation") as of December 31, 2025 and 2024, the related consolidated statements of income, comprehensive income, stockholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2025, and the related notes (collectively referred to as the "financial statements"). We also have audited the Corporation’s internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control – Integrated Framework: (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Corporation as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Corporation maintained, in all material respects, effective internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control – Integrated Framework: (2013) issued by COSO.

    
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 30,771 $ 29,495
Short-term investments 8,714 128,207
Cash and cash equivalents 39,485 157,702
Securities available-for-sale, at fair value 422,087 341,392
Securities held-to-maturity, at amortized cost 5,210 6,741
Loans held for sale 18,849 13,498
Loans and leases receivable, net of allowance for credit losses of $35,877 and $35,785, respectively 3,337,364 3,077,343
Premises and equipment, net 4,669 5,227
Repossessed assets 0 51
Right-of-use assets, net 5,317 5,702
Bank-owned life insurance 83,994 57,210
Federal Home Loan Bank stock, at cost 8,940 11,616
Goodwill and other intangible assets 11,985 11,912
Derivatives 36,515 65,762
Accrued interest receivable and other assets 107,472 99,059
Total assets 4,081,887 3,853,215
Liabilities and Stockholders’ Equity    
Deposits 3,380,415 3,107,140
Federal Home Loan Bank advances and other borrowings 252,051 320,049
Lease liabilities 7,361 7,926
Derivatives 36,926 57,068
Accrued interest payable and other liabilities 33,549 32,443
Total liabilities 3,710,302 3,524,626
Stockholders’ equity:    
Preferred stock, $0.01 par value, 2,500,000 shares authorized, 12,500 shares of 7% non-cumulative perpetual preferred stock, Series A, outstanding at December 31, 2025 and 2024, respectively 11,992 11,992
Common stock, $0.01 par value, 25,000,000 shares authorized, 9,493,274 and 9,433,637shares issued, 8,325,376 and 8,293,928 shares outstanding at December 31, 2025 and 2024, respectively 96 95
Additional paid-in capital 96,487 93,545
Retained earnings 305,536 265,778
Accumulated other comprehensive loss (9,740) (11,425)
Treasury stock, 1,167,898 and 1,139,709 shares at December 31, 2025 and 2024, respectively, at cost (32,786) (31,396)
Total stockholders' equity 371,585 328,589
Total liabilities and stockholders’ equity $ 4,081,887 $ 3,853,215
v3.25.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Allowance for loan losses $ 35,877 $ 35,785
Preferred Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Preferred Stock, Shares Authorized 2,500,000 2,500,000
Preferred stock, shares issued 12,500 12,500
Preferred Stock, Shares Outstanding 12,500 12,500
Preferred stock, dividend rate, percentage 7.00% 7.00%
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Common Stock, Shares Authorized 25,000,000 25,000,000
Common Stock, Shares, Issued 9,493,274 9,433,637
Common Stock, Shares, Outstanding 8,325,376 8,293,928
Treasury Stock, Common, Shares 1,167,898 1,139,709
v3.25.4
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest income      
Loans and leases $ 227,311 $ 216,899 $ 182,650
Securities 15,375 11,912 8,203
Short-term investments 4,624 4,319 4,075
Total interest income 247,310 233,130 194,928
Interest expense      
Deposits 99,208 97,922 71,418
Federal Home Loan Bank advances and other borrowings 11,412 11,002 10,922
Total interest expense 110,620 108,924 82,340
Net interest income 136,690 124,206 112,588
Provision for credit losses 8,655 8,827 8,182
Net interest income after provision for credit losses 128,035 115,379 104,406
Non-interest income      
Private wealth management service fees 14,716 13,262 11,425
Gain on sale of Small Business Administration loans 1,882 1,942 2,055
Service charges on deposits 4,491 3,771 3,131
Loan fees 1,724 3,399 3,363
Bank-owned life insurance policy income 2,755 1,649 1,494
Net loss on sale of securities 0 (8) (45)
Swap fees 1,995 1,403 2,964
Other non-interest income 4,374 3,833 6,921
Total non-interest income 31,937 29,251 31,308
Non-interest expense      
Compensation 67,874 63,105 61,059
Occupancy 2,303 2,373 2,381
Professional fees 5,018 5,671 5,325
Data processing 4,732 4,892 3,826
Marketing 3,844 3,518 2,889
Equipment 1,381 1,314 1,340
Computer software 6,987 6,166 4,985
FDIC insurance 3,231 2,760 2,238
Other non-interest expense 4,149 3,681 4,532
Total non-interest expense 99,519 93,480 88,575
Income before income tax expense 60,453 51,150 47,139
Income tax expense 10,134 6,905 10,112
Net income 50,319 44,245 37,027
Preferred stock dividend 875 875 875
Net income available to common shareholders $ 49,444 $ 43,370 $ 36,152
Earnings per common share      
Basic $ 5.94 $ 5.2 $ 4.33
Diluted 5.94 5.2 4.33
Dividends declared per share $ 1.16 $ 1 $ 0.91
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net income $ 50,319,000 $ 44,245,000 $ 37,027,000
Other comprehensive income      
Unrealized securities gains (losses) arising during the period 11,630,000 (2,185,000) 5,606,000
Reclassification adjustment for net loss realized in net income 0 8,000 45,000
Amortization of net unrealized losses transferred from available-for-sale 1,000 2,000 4,000
Unrealized (losses) gains on interest rate swaps arising during the period (9,105,000) 5,046,000 (3,514,000)
Income tax expense (841,000) (579,000) (548,000)
Total other comprehensive income 1,685,000 2,292,000 1,593,000
Comprehensive income $ 52,004,000 $ 46,537,000 $ 38,620,000
v3.25.4
Consolidated Statements of Changes in Stockholders' Equity - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
Cumulative Effect, Period of Adoption, Adjusted Balance
Common stock
Common stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Preferred Stock
Preferred Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Additional paid-in capital
Additional paid-in capital
Cumulative Effect, Period of Adoption, Adjusted Balance
Retained earnings
Retained earnings
Cumulative Effect, Period of Adoption, Adjustment
Retained earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss
Cumulative Effect, Period of Adoption, Adjusted Balance
Treasury Stock, Common
Treasury Stock, Common
Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning balance at Dec. 31, 2022 $ 260,640 $ (1,353) $ 259,287 $ 94 $ 94 $ 11,992 $ 11,992 $ 87,512 $ 87,512 $ 203,507 $ (1,353) $ 202,154 $ (15,310) $ (15,310) $ (27,155) $ (27,155)
Common shares outstanding at Dec. 31, 2022       8,362,085 8,362,085                      
Net income 37,027                 37,027            
Other comprehensive income 1,593                       1,593      
Share-based compensation - restricted shares and employee stock purchase plan 2,977     $ 1       2,976                
Share-based compensation restricted shares and employee stock purchase plan, shares       43,057                        
Issuance of common stock under the employee stock purchase plan 128             128                
Issuance of common stock under the employee stock purchase plan, shares       4,328                        
Preferred stock dividends (875)                 (875)            
Cash dividends (7,578)                 (7,578)            
Treasury stock purchased (2,971)                           (2,971)  
Treasury stock purchased, shares       (94,692)                        
Ending balance at Dec. 31, 2023 289,588     $ 95   11,992   90,616   230,728     (13,717)   (30,126)  
Common shares outstanding at Dec. 31, 2023       8,314,778                        
Net income 44,245                 44,245            
Other comprehensive income 2,292                       2,292      
Share-based compensation - restricted shares and employee stock purchase plan 2,785             2,785                
Share-based compensation restricted shares and employee stock purchase plan, shares       11,342                        
Issuance of common stock under the employee stock purchase plan $ 144             144                
Issuance of common stock under the employee stock purchase plan, shares 3,832     3,832                        
Preferred stock dividends $ (875)                 (875)            
Cash dividends (8,320)                 (8,320)            
Treasury stock purchased (1,270)                           (1,270)  
Treasury stock purchased, shares       (36,024)                        
Ending balance at Dec. 31, 2024 $ 328,589     $ 95   11,992   93,545   265,778     (11,425)   (31,396)  
Common shares outstanding at Dec. 31, 2024 8,293,928     8,293,928                        
Net income $ 50,319                 50,319            
Other comprehensive income 1,685                       1,685      
Share-based compensation - restricted shares and employee stock purchase plan 2,800     $ 1       2,799                
Share-based compensation restricted shares and employee stock purchase plan, shares       56,522                        
Issuance of common stock under the employee stock purchase plan $ 143             143                
Issuance of common stock under the employee stock purchase plan, shares 3,115     3,115                        
Preferred stock dividends $ (875)                 (875)            
Cash dividends (9,686)                 (9,686)            
Treasury stock purchased (1,390)                           (1,390)  
Treasury stock purchased, shares       (28,189)                        
Ending balance at Dec. 31, 2025 $ 371,585     $ 96   $ 11,992   $ 96,487   $ 305,536     $ (9,740)   $ (32,786)  
Common shares outstanding at Dec. 31, 2025 8,325,376     8,325,376                        
v3.25.4
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]                      
Dividends declared per share $ 0.29 $ 0.29 $ 0.29 $ 0.29 $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 1.16 $ 1 $ 0.91
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net Income (Loss) $ 50,319 $ 44,245 $ 37,027
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred income taxes, net (1,557) (3,513) 2,120
Provision for credit losses 8,655 8,827 8,182
Depreciation, amortization and accretion, net 3,774 3,738 3,636
Share-based compensation 2,800 2,785 2,977
Net losses on sales and impairments of tax credit investments 289 401 0
Amortization of tax credit investments 5,669 5,992 4,053
Bank-owned life insurance policy income (2,755) (1,649) (1,494)
Origination of loans for sale (132,725) (167,548) (149,669)
Sale of loans originated for sale 129,256 160,581 149,767
Gain on sale of loans originated for sale (1,882) (1,942) (2,055)
Net loss on repossessed assets 27 168 13
Return on investment in limited partnerships 1,567 3,311 4,922
Excess tax benefit from share-based compensation 237 186 194
Net payments on operating lease liabilities (1,585) (1,453) (1,425)
Net decrease (increase) in accrued interest receivable and other assets 20,800 6,236 (21,379)
Net (decrease) increase in accrued interest payable and other liabilities (21,193) (2,874) 15,423
Net cash provided by operating activities 61,696 57,491 52,292
Investing activities      
Proceeds from maturities, redemptions, and paydowns of available-for-sale securities 65,530 91,902 22,114
Proceeds from maturities, redemptions, and paydowns of held-to-maturity securities 1,523 1,749 4,115
Proceeds from sale of available-for-sale securities 0 7,533 5,085
Purchases of available-for-sale securities (134,556) (146,241) (106,967)
Proceeds from sale of repossessed assets 24 18 25
Net increase in loans and leases (268,344) (267,413) (408,618)
Investments in limited partnerships (4,574) (1,842) (1,413)
Returns of investments in limited partnerships 966 704 7
Investment in tax credit investments (14,578) (17,143) (24,160)
Distribution from tax credit investments 45 174 101
Proceeds from sale of tax credit 2,530 1,879 0
Investment in Federal Home Loan Bank stock (21,164) (24,945) (32,069)
Proceeds from the sale of Federal Home Loan Bank stock 23,840 25,371 37,839
Purchases of leasehold improvements and equipment, net (595) (223) (2,884)
Proceeds from sale of leasehold improvements and equipment 0 30 0
Premium payment on bank owned life insurance policies 0 (25) (24)
Purchases of bank owned life insurance policies (24,500) 0 0
Proceeds from bank owned life insurance claim 471 0 0
Net cash used in investing activities (373,382) (328,472) (506,849)
Financing activities      
Net increase in deposits 273,275 310,361 628,573
Repayment of Federal Home Loan Bank advances (1,115,150) (1,148,378) (1,698,730)
Proceeds from Federal Home Loan Bank advances 1,047,046 1,132,228 1,563,851
Repayment of subordinated notes and debentures 0 (15,000) 0
Proceeds from issuance of subordinated notes and debentures 0 20,000 15,000
Net increase (decrease) in long-term borrowed funds 106 283 (6,013)
Cash dividends paid (9,686) (8,320) (7,578)
Preferred stock dividends paid (875) (875) (875)
Proceeds from issuance of common stock under ESPP 143 144 128
Purchase of treasury stock (1,390) (1,270) (2,971)
Net cash provided by financing activities 193,469 289,173 491,385
Net (decrease) increase in cash and cash equivalents (118,217) 18,192 36,828
Cash and cash equivalents at the beginning of the period 157,702 139,510 102,682
Cash and cash equivalents at the end of the period 39,485 157,702 139,510
Cash paid during the period for:      
Interest paid on deposits and borrowings 111,378 109,610 75,533
Net income taxes paid 3,307 158 7,456
Non-cash investing and financing activities:      
Transfer of repossessed assets to (from) loans 0 10 (190)
Lease liability in exchange for right-of-use-asset $ 712 $ 180 $ 0
v3.25.4
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure                      
Net Income (Loss) $ 13,333 $ 14,393 $ 11,422 $ 11,171 $ 14,415 $ 10,526 $ 10,456 $ 8,848 $ 50,319 $ 44,245 $ 37,027
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Cybersecurity Risk Management, Strategy, and Governance
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

Item 1C. Cybersecurity

Cybersecurity is an important component of our overall approach to Enterprise Risk Management (“ERM”). Our cybersecurity policies, standards, processes and practices are fully integrated in our ERM program which are based on recognized frameworks established by the National Institute of Standards and Technology, the International Organization for Standardization and other applicable industry standards. We seek to address cybersecurity risks through a comprehensive approach that is focused on preserving the confidentiality, security and availability of the information that we collect and store by identifying, preventing and mitigating cybersecurity threats and effectively responding to cybersecurity incidents when they occur.

Our cybersecurity program is focused on the following key areas:

Governance: The Board of Director’s (the “Board”) oversight of cybersecurity risk management is delegated to the Operational Risk Committee of the Board (the "ORC"),which regularly interacts with our ERM function, the Chief Information Officer ("CIO"), other members of management and relevant management committees. The ORC chair regularly reports material developments on cybersecurity to the Board.

Collaborative Approach: We have implemented a comprehensive approach to identifying, preventing and mitigating cybersecurity threats and incidents, while also implementing controls and procedures that provide for the prompt escalation of certain cybersecurity incidents so that decisions regarding the public disclosure and reporting of such incidents can be made by management in a timely manner.

Technical Safeguards: We deploy technical safeguards that are designed to continuously protect our information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality and access controls. These safeguards are evaluated and improved through vulnerability assessments, penetration testing, and cybersecurity threat intelligence.

Incident Response and Recovery Planning: We have established and maintain a comprehensive incident response and recovery plan that fully addresses our response to a potential cybersecurity incident, and such plans are tested and evaluated on a regular basis.

Third-Party Risk Management: We maintain a comprehensive, risk-based approach to identifying and monitoring cybersecurity risks presented by third parties, including vendors, service providers and other external users of our systems, as well as the systems of third parties that could adversely impact our business in the event of a cybersecurity incident affecting those third-party systems. Our third-party risk management program includes robust upfront and ongoing risk assessments for all critical and high-risk vendors.

Education and Awareness: We provide regular, mandatory training for personnel regarding cybersecurity threats as a means to equip our personnel with effective tools to address cybersecurity threats, and to communicate our evolving information security policies, standards, processes and practices. The Board receives periodic education and on a regular basis is informed about industry trends and how the Bank is responding to evolving threats.

We engage an independent third party to conduct periodic testing and assessment of our policies, standards, processes, controls and practices that are designed to address cybersecurity threats and incidents. These efforts include audits, assessments, vulnerability and penetration testing and other exercises focused on evaluating the effectiveness of our cybersecurity measures. We also engage independent third parties to complete periodic testing and assessments of our cybersecurity measures. The results of such assessments are reported to the ORC and the Board and we adjust our policies and practices as necessary based on the information provided by these assessments.

The Board and the ORC oversee our ERM process, including regular presentations and reports. The Board and the ORC also would receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds. The Board and the ORC coordinate the approach to cybersecurity management with the CRO and the CIO, as well as our CFO and CEO.

Our CRO and CIO have 30 and 24 years of experience, respectively. Their background is summarized in Part I, Item 1, Executive Officers of the Registrant.

To date, we believe we have not been materially affected, or are reasonably likely to be materially affected, by cybersecurity threats, including our business strategy, results of operations or financial condition. Please refer to Risk Factors in Item 1A for discussion of possible impacts from future cybersecurity events.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]

Cybersecurity is an important component of our overall approach to Enterprise Risk Management (“ERM”). Our cybersecurity policies, standards, processes and practices are fully integrated in our ERM program which are based on recognized frameworks established by the National Institute of Standards and Technology, the International Organization for Standardization and other applicable industry standards. We seek to address cybersecurity risks through a comprehensive approach that is focused on preserving the confidentiality, security and availability of the information that we collect and store by identifying, preventing and mitigating cybersecurity threats and effectively responding to cybersecurity incidents when they occur.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] The Board of Director’s (the “Board”) oversight of cybersecurity risk management is delegated to the Operational Risk Committee of the Board (the "ORC"),which regularly interacts with our ERM function, the Chief Information Officer ("CIO"), other members of management and relevant management committees. The ORC chair regularly reports material developments on cybersecurity to the Board.

The Board and the ORC oversee our ERM process, including regular presentations and reports. The Board and the ORC also would receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds. The Board and the ORC coordinate the approach to cybersecurity management with the CRO and the CIO, as well as our CFO and CEO.

Our CRO and CIO have 30 and 24 years of experience, respectively. Their background is summarized in Part I, Item 1, Executive Officers of the Registrant.

To date, we believe we have not been materially affected, or are reasonably likely to be materially affected, by cybersecurity threats, including our business strategy, results of operations or financial condition. Please refer to Risk Factors in Item 1A for discussion of possible impacts from future cybersecurity events.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board of Director’s (the “Board”) oversight of cybersecurity risk management is delegated to the Operational Risk Committee of the Board (the "ORC"),which regularly interacts with our ERM function, the Chief Information Officer ("CIO"), other members of management and relevant management committees. The ORC chair regularly reports material developments on cybersecurity to the Board.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board and the ORC oversee our ERM process, including regular presentations and reports. The Board and the ORC also would receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds.
Cybersecurity Risk Role of Management [Text Block] We seek to address cybersecurity risks through a comprehensive approach that is focused on preserving the confidentiality, security and availability of the information that we collect and store by identifying, preventing and mitigating cybersecurity threats and effectively responding to cybersecurity incidents when they occur.The ORC chair regularly reports material developments on cybersecurity to the Board.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The Board and the ORC coordinate the approach to cybersecurity management with the CRO and the CIO, as well as our CFO and CEO.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our CRO and CIO have 30 and 24 years of experience, respectively.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] We provide regular, mandatory training for personnel regarding cybersecurity threats as a means to equip our personnel with effective tools to address cybersecurity threats, and to communicate our evolving information security policies, standards, processes and practices. The Board receives periodic education and on a regular basis is informed about industry trends and how the Bank is responding to evolving threats.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of Operations and Summary of Significant Accounting Policies

Note 1 — Nature of Operations and Summary of Significant Accounting Policies

Nature of Operations

The accounting and reporting practices of First Business Financial Services, Inc. (“FBFS” or the “Corporation”), through our wholly-owned subsidiary, First Business Bank (“FBB” or the “Bank”), have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). FBB operates as a commercial banking institution primarily in Wisconsin and the greater Kansas City metropolitan area. The Bank provides a full range of financial services to businesses, business owners, executives, professionals, and high net worth individuals. FBB also offers bank consulting services to community financial institutions. The Bank is subject to competition from other financial institutions and service providers and is also subject to state and federal regulations. As of December 31, 2025, FBB had the following wholly-owned subsidiaries: First Business Specialty Finance, LLC (“FBSF”), First Madison Investment Corp. (“FMIC”), ABKC Real Estate, LLC (“ABKC”), FBB Real Estate 2, LLC (“FBB RE 2”), Mitchell Street Apartments Investment, LLC (“Mitchell Street”), and FBB Tax Credit Investment, LLC (“FBB Tax Credit”).

Basis of Presentation. The Consolidated Financial Statements include the accounts of the Corporation and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates. Management of the Corporation is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. Material estimates that could significantly change in the near-term include the value of securities and interest rate swaps, level of allowance for credit losses, lease residuals, property under operating leases, goodwill, and income taxes.

Subsequent Events. Subsequent events have been evaluated through the date of issuance of the Consolidated Financial Statements. No significant subsequent events have occurred through this date requiring adjustment to the financial statements or disclosures.

Cash and Cash Equivalents. The Corporation considers federal funds sold, interest-bearing deposits, and short-term investments that have original maturities of three months or less to be cash equivalents.

Securities. The Corporation classifies its investment and mortgage-related securities as available-for-sale, held-to-maturity, and trading. Debt securities that the Corporation has the positive intent and ability to hold to maturity are classified as held-to-maturity and are stated at amortized cost. Debt securities bought expressly for the purpose of selling in the near term are classified as trading securities and are measured at fair value with unrealized gains and losses reported in earnings. Debt securities not classified as held-to-maturity or as trading are classified as available-for-sale. Available-for-sale securities are measured at fair value with unrealized gains and losses reported as a separate component of stockholders’ equity, net of tax. Realized gains and losses are included in the Consolidated Statements of Income as a component of non-interest income. Credit losses for securities are recorded as an allowance for credit losses through the provision for credit losses. The cost of securities sold is based on the specific identification method. The Corporation did not hold any trading securities at December 31, 2025 or 2024.

Discounts and premiums on securities are accreted and amortized into interest income using the effective yield method over the estimated life (based on maturity date, call date, or weighted average life) of the related security.

Allowance for Credit Loss (“ACL”) - Available For Sale (“AFS”) Debt Securities. For AFS debt securities in an unrealized loss position, the Corporation first assesses whether it intends to sell, or it is more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value through income. For AFS debt securities that do not meet the aforementioned criteria, the Corporation evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and

an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any decline in fair value that has not been recorded through an allowance for credit losses is recognized in other comprehensive income, net of applicable taxes.

Changes in the ACL are recorded as a provision for (or recovery of) credit loss expense. Losses are charged against allowance when management believes that uncollectibility of an AFS debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met.

Accrued interest receivable on AFS debt securities totaled $1.6 million at December 31, 2025 and is excluded from the estimate of credit losses.

ACL - Held To Maturity (“HTM”) Debt Securities. Management measures expected credit losses on HTM debt securities on a collective basis by major security type. Accrued interest receivable on HTM debt securities totaled $24,000 at December 31, 2025 and is excluded from the estimate of credit losses. The HTM securities portfolio includes residential mortgage backed securities (“MBS”) commercial MBS, and municipal securities. All residential and commercial MBS are U.S. government issued or U.S. government sponsored and substantially all municipal bonds are rated A or above.

Loans Held for Sale and Loans Transferred to Third Parties. The guaranteed portions of SBA loans which are originated and intended for sale in the secondary market are classified as held for sale. These loans are carried at the lower of cost or fair value in the aggregate. Unrealized losses on such loans are recognized through a valuation allowance by a charge to other non-interest income. Gains and losses on the sale of loans are also included in other non-interest income. As assets specifically originated for sale, the origination of, disposition of, and gain/loss on these loans are classified as operating activities in the Consolidated Statements of Cash Flows. Fees received from the borrower and direct costs to originate the loans are deferred and recognized as part of the gain or loss on sale. There were $18.8 million and $13.5 million in loans held for sale outstanding at December 31, 2025 and 2024, respectively.

Non-SBA loans which are originated and sold are treated as sales and derecognized under the applicable accounting guidance at the time of transfer. No gain or loss is recognized on participation interests in other, non-SBA originated loans as they were transferred at or near the date of loan origination and the payments received for servicing the portion of the loans participated represents adequate compensation.

Loans and Leases. Loans and leases which management has the intent and ability to hold for the foreseeable future or until maturity are reported at their outstanding principal balance with adjustments for partial charge-offs, the allowance for credit losses, deferred fees or costs on originated loans and leases, and unamortized premiums or discounts on any purchased loans.

Occasionally, the Corporation modifies loans or leases to borrowers in financial distress by providing principal forgiveness, term extension, an other-than-significant payment delay or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit loss.

Interest on non-accrual loans and leases is accrued and credited to income on a daily basis based on the unpaid principal balance and is calculated using the effective interest method. Per policy, a loan or a lease is placed on non-accrual status when it becomes 90 days past due or it is doubtful that contractual principal and interest will be collected in accordance with the terms of the contract. A loan or lease is determined to be past due if the borrower fails to meet a contractual payment and will continue to be considered past due until all contractual payments are received. When a loan or lease is placed on non-accrual, the interest accrual is discontinued and previously accrued but uncollected interest is deducted from interest income. If collectability of the contractual principal and interest is in doubt, payments received are first applied to reduce the loan principal. If collectability of the contractual payments is not in doubt, payments may be applied to interest for interest amounts due on a cash basis. As soon as it is determined with certainty that the principal of a non-performing loan or lease is uncollectible, either through collections from the borrower or disposition of the underlying collateral, the portion of the principal that exceeds any final collections is charged off against the allowance for credit loss. Loans or leases are returned to accrual status when they are brought current in terms of both principal and accrued interest due, have performed in accordance with contractual terms for a reasonable period of time, and when the ultimate collectability of total contractual principal and interest is no longer doubtful.

Transfers of assets, including but not limited to the guaranteed portions of SBA loans and participation interests in other, non-SBA originated loans, that upon completion of the transfer satisfy the conditions to be reported as a sale, including legal isolation, are derecognized from the Consolidated Financial Statements. Transfers of assets that upon completion of the transfer do not meet the conditions of a sale are recorded on a gross basis with a secured borrowing identified to reflect the amount of the transferred interest.

Loan and lease origination fees as well as certain direct origination costs are deferred and amortized as an adjustment to loan yields over the stated term of the loan. Loans or leases that result from a refinance or restructuring, other than modified loans or leases to borrowers in financial distress, where terms are at least as favorable to the Corporation as the terms for comparable loans to other borrowers with similar collection risks and result in an essentially new loan, are accounted for as a new loan. Any unamortized net fees, costs, or penalties are recognized when the new loan or lease is originated. Unamortized net loan or lease fees or costs for loans and leases that result from a refinance or restructure with only minor modifications to the original loan or lease contract are carried forward as a part of the net investment in the new loan. For modified loans or leases to borrowers in financial distress, all fees received in connection with a modification of terms are applied as a reduction of the loan or lease and any related costs, including direct loan origination costs, are charged to expense as incurred.

ACL - Loans. The ACL is a valuation account that is deducted from the loans' amortized cost basis to present the net amounts expected to be collected on the loans. Loans are charged off against the allowance when management believes that the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off.

Management estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as changes in external conditions, such as changes in unemployment rates, property values, or other relevant factors.

Accrued interest receivable on loans totaled $11.2 million at December 31, 2025 and is excluded from the estimate of credit losses.

ACL - Loans - Collectively Evaluated. The ACL is measured on a collective pool basis when similar risk characteristics exist. The Corporation has identified the following portfolio segments:

Commercial Real Estate: Commercial real estate portfolio segments utilize substantially similar processes and controls. Due to the collateral types, availability of data, and results of the Loss Driver Analysis (“LDA”), management utilizes a unique forecast model for each portfolio segment along with a separate analysis of subjective factors.

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Construction and Land Development - Loans secured by real estate used to finance land development or construction.
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1-4 Family - Loans secured by 1-4 family residential property
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Multi-family - Loans secured by multi-family residential property
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Owner Occupied - Loans secured by nonfarm, nonresidential owner-occupied property
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Non-owner Occupied - Loans secured by other nonfarm, nonresidential property

Commercial and Industrial Lending: Commercial and industrial lending is a portfolio segment where management uses a common forecast due to common risk management, similarity in collateral types, availability of data, and results of the LDA. Management has distinct processes, controls, and procedures which enable more precise development of subjective factors at the pool level.

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Commercial - Loans to small- to medium-sized companies primarily in the Wisconsin, Kansas, and Missouri markets, predominantly through lines of credit and term loans to businesses.
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Asset Based Lending - Products include revolving lines of credit and term loans for strategic acquisitions, capital expenditures, working capital, bank debt refinancing, debt restructuring, and corporate turnaround strategies.
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Floorplan - Floor plan financing for independent auto dealerships nationwide.
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SBA - Loans originated in accordance with the guidelines of the Small Business Administration (“SBA”). As the Corporation prefers to sell the guaranteed portion, the on-balance sheet loans are primarily unguaranteed.
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Equipment finance - Loans and leases secured by a broad range of equipment to commercial clients in a variety of industries.

Consumer and other: Consumer loans consisted of marketable security loans and other personal loans for executives and high net-worth individuals. The Corporation uses a unique forecast model and subjective factors for this portfolio segment due to the client type and data availability.

Measures of the ACL are as follows:

Portfolio Segment

 

Pool

 

Measurement Method

 

Loss Driver

Commercial real estate

 

 

 

 

 

 

Owner occupied

 

 

 

Discounted Cash Flow

 

National unemployment, National GDP

Non-owner occupied

 

 

 

Discounted Cash Flow

 

National unemployment, National GDP

Construction and land development

 

 

 

Discounted Cash Flow

 

National unemployment, National GDP

Multi-family

 

 

 

Discounted Cash Flow

 

National unemployment, National GDP

1-4 Family

 

 

 

Discounted Cash Flow

 

National unemployment, National GDP

Commercial and industrial

 

 

 

 

 

 

 

 

Commercial

 

Discounted Cash Flow

 

National unemployment, National GDP

 

 

ABL

 

Discounted Cash Flow

 

National unemployment, National GDP

 

 

Floorplan

 

Discounted Cash Flow

 

National unemployment, National GDP

 

 

SBA

 

Weighted Average Remaining Maturity

 

N/A

 

 

Equipment Finance

 

Discounted Cash Flow

 

National unemployment, National GDP

Consumer and other

 

 

 

Discounted Cash Flow

 

National unemployment, National GDP

The Corporation utilized a discounted cash flow (DCF) or Weighted Average Remaining Maturity (WARM) method to estimate the quantitative portion of the allowance for credit losses for loans evaluated on a collective pooled basis. For each segment, a LDA was performed in order to identify loss drivers and create a regression model for use in forecasting cash flows. For all DCF-based pools, the LDA analyses utilized the Corporation’s and peer data from the Federal Financial Institutions Examination Council's (“FFIEC”) Call Report filings.

In creating the DCF model, the Corporation has established a one-year reasonable and supportable forecast period with a one-year straight line reversion to the long-term historical average. Due to the infrequency of losses, the Corporation elected to use peer data for a more statistically sound calculation.

Key inputs into the DCF model include loan-level detail, including the amortized cost basis of individual loans, payment structure, and forecasted loss drivers. The Corporation utilizes a third party to provide economic forecasts under various scenarios, which are assessed quarterly considering the scenarios in the context of the current economic environment and presumed risk of loss.

Expected credit losses are estimated over the contractual term of the loans, adjusted for prepayments when appropriate. The contractual term excludes extensions, renewals, and modifications unless the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Corporation.

Additional key assumptions in the DCF model include the probability of default (“PD”), loss given default (“LGD”), and prepayment/curtailment rates. The Corporation utilizes the model-driven PD and a LGD derived using a method referred to as Frye Jacobs. The Frye Jacobs method is a mathematical formula that traces the relationship between LGD and PD over time and projects the LGD based on the level of PD forecasted. In all cases, the Frye Jacobs method is utilized to calculate LGDs during the forecast period, reversion period and long-term historical average. Prepayment and curtailment rates were calculated through third party studies of the Corporation’s own data.

When the DCF method is used to determine the allowance for credit losses, management adjusts the effective interest rate used to discount expected cash flows to incorporate expected prepayments.

For the WARM-based SBA pool, Corporation-specific data was used to develop the model assumptions. The Corporation developed a reasonable and supportable estimate for the remaining maturity and estimated loss through analysis of historical data. The remaining

maturity calculation excludes loans originated under the Paycheck Protection Program as such loans are inconsistent with the current portfolio composition. The quarterly loss rate data includes 2017 to current as the SBA lending policies and procedures were realigned in 2016 following the acquisition of Alterra Bank. Only the unguaranteed portion of the SBA loans are assessed via WARM. The risk of a failed guarantee claim is captured under ASC 450 contingency accounting.

Qualitative factors for DCF and WARM methodologies include the following:

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The Corporation’s lending policies and procedures, including changes in lending strategies, underwriting standards and practices for collections, write-offs, and recoveries;
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Actual and expected changes in international, national, regional, and local economic and business conditions and developments in which the Corporation operates that affect the collectability of financial assets;
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The experience, ability, and depth of the Corporation’s lending, investment, collection, and other relevant management and staff;
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The volume of past due loans and leases, the volume of non-accrual and the volume and severity of adversely classified or graded assets;
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The existence and effect of industry concentrations of credit;
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Independent indicators of collateral quality;
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The quality of the Corporation’s credit review function and;
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The effect of other external factors such as the regulatory, legal and technological environments, competition, and events such as natural disasters or pandemics

ACL - Loans - Individually Evaluated. Loans that do not share risk characteristics are evaluated on an individual basis and are excluded from the collective evaluation. The Corporation has determined that all loans which have been placed on non-performing status and other performing loans that have been identified due to non-conforming characteristics will be individually evaluated. Individual analysis will evaluate the required specific reserve for loans in scope. Specific reserves on non-performing loans are typically based on management’s best estimate of the fair value of collateral securing these loans, adjusted for estimated selling costs as appropriate.

ACL - Off-Balance Sheet Credit Exposures. The Corporation estimates expected credit losses over the contractual period in which the Corporation is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Corporation. The allowance for credit losses on off-balance sheet credit exposure is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. Funding rates are based on a historical analysis of the Corporation’s portfolio, while estimates of credit losses are determined using the same loss rates as funded loans.

Premises and Equipment, net. The cost of capitalized leasehold improvements is amortized on the straight-line method over the lesser of the term of the respective lease or estimated economic life. Equipment is stated at cost less accumulated depreciation and amortization which is calculated by the straight-line method over the estimated useful lives of 3 to 10 years. Maintenance and repair costs are charged to expense as incurred. Improvements which extend the useful life are capitalized and depreciated over the remaining useful life of the assets.

Repossessed Assets. Property acquired by repossession, foreclosure, or by deed in lieu of foreclosure is recorded at the lower of the carrying amount of the loan or fair value of the underlying property, less costs to sell. This value becomes the new cost basis for the repossessed asset. Any write-down in the carrying value of a loan or lease at the time of acquisition is charged to the allowance for credit losses. Any subsequent write-downs to reflect current fair value, as well as gains and losses on disposition and revenues are recorded in non-interest expense. Any required or prudent costs incurred relating to the development and improvement of the property are capitalized while holding period costs are charged to other non-interest expense.

Leases. At contract inception, the Corporation determines whether the arrangement is or contains a lease and determines the lease classification. The lease term is determined based on the non-cancellable term of the lease adjusted to the extent optional renewal terms and termination rights are reasonably certain. Lease expense is recognized evenly over the lease term. Variable lease payments

are recognized as period costs. The present value of remaining lease payments is recognized as a liability on the balance sheet with a corresponding right-of-use asset adjusted for prepaid or accrued lease payments. The Corporation uses the Federal Home Loan Bank fixed advance rate as of the lease inception date that most closely resembles the remaining term of the lease as the incremental borrowing rate, unless the interest rate implicit in the lease contract is readily determinable. The Corporation has elected to exclude short-term leases as well as all non-lease items, such as common area maintenance, from being included in the lease liability on the Consolidated Balance Sheets.

Bank-Owned Life Insurance. Bank-owned life insurance (“BOLI”) is reported at the amount that would be realized if the life insurance policies were surrendered on the balance sheet date. BOLI policies owned by the Bank are purchased with the objective to fund certain future employee benefit costs with the death benefit proceeds. The cash surrender value of such policies is recorded in bank-owned life insurance on the Consolidated Balance Sheets and changes in the value are recorded in non-interest income. The total death benefit of all BOLI policies was $180.1 million and $133.8 million as of December 31, 2025 and 2024, respectively. There are no restrictions on the use of BOLI proceeds nor are there any contractual restrictions on the ability to surrender the policy. As of December 31, 2025 and 2024, there were no borrowings against the cash surrender value of the BOLI policies.

Federal Home Loan Bank Stock. The Bank is required to maintain Federal Home Loan Bank (“FHLB”) stock as members of the FHLB, and in amounts as required by the FHLB. This equity security is “restricted” in that it can only be sold back to the FHLB or another member institution at par. Therefore, it is less liquid than other marketable equity securities and the fair value is equal to cost. At December 31, 2025 and 2024, the Bank had FHLB stock of $8.9 million and $11.6 million, respectively. The Corporation periodically evaluates its holding in FHLB stock for impairment. Should the stock be impaired, it would be written down to its estimated fair value. There were no impairments recorded on FHLB stock during the years ended December 31, 2025 and 2024.

Goodwill and Other Intangible Assets. Goodwill and other intangible assets consist primarily of goodwill and loan servicing rights. Loan servicing rights, when originated, are initially recorded at fair value and subsequently amortized in proportion to and over the period of estimated net servicing income. The Corporation reviews other intangible assets for impairment at least annually, or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable, in which case an impairment charge would be recorded.

Goodwill is not amortized but is subject to impairment tests on at least an annual basis, and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount (including goodwill). An initial qualitative evaluation is made to assess the likelihood of impairment and determine whether further quantitative testing to calculate the fair value is necessary. When the qualitative evaluation indicates that impairment is more likely than not, quantitative testing is required whereby the fair value of each reporting unit is calculated and compared to the recorded book value. If the calculated fair value of the reporting unit exceeds its carrying value, goodwill is not considered impaired. If the carrying value of a reporting unit exceeds its calculated fair value, an impairment charge is recognized in earnings in an amount equal to the difference.

Investments in Limited Partnerships. The Corporation owns certain equity investments in other organizations which are not consolidated because the Corporation does not own more than a 50% interest or exercise control over the organization. Investments in limited partnerships are generally accounted for using the equity method. All of these investments are periodically evaluated for impairment. Should an investment be impaired, it would be written down to its estimated fair value. The investments are reported in other assets and the income and loss from such investments, if any, is reported in non-interest income.

Derivative Instruments. The Corporation uses derivative instruments to protect against the risk of adverse price or interest rate movements on the value of certain assets, liabilities, future cash flows, and economic hedges for written client derivative contracts. Derivative instruments represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash to the other party based on a notional amount and an underlying variable, as specified in the contract, and may be subject to master netting agreements.

Market risk is the risk of loss arising from an adverse change in interest rates, exchange rates, or equity prices. The Corporation’s primary market risk is interest rate risk. Instruments designed to manage interest rate risk include interest rate swaps, interest rate options, and interest rate caps and floors with indices that relate to the pricing of specific assets and liabilities. The nature and volume of the derivative instruments used to manage interest rate risk depend on the level and type of assets and liabilities on the balance

sheet and the risk management strategies for the current and anticipated rate environments. Counterparty risk with respect to derivative instruments occurs when a counterparty to a derivative contract with an unrealized gain fails to perform according to the terms of the agreement. Counterparty risk is managed by limiting the counterparties to highly rated dealers, requiring collateral postings when values are in deficit positions, applying uniform credit standards to all activities with credit risk, and monitoring the size and the maturity structure of the derivative portfolio.

All derivative instruments are to be carried at fair value on the Consolidated Balance Sheets. The accounting for the gain or loss due to changes in the fair value of a derivative instrument depends on whether the derivative instrument qualifies as a hedge. If the derivative instrument does not qualify as a hedge, the gains or losses are reported in earnings when they occur. However, if the derivative instrument qualifies as a hedge, the accounting varies based on the type of risk being hedged. The Corporation utilizes interest rate swaps offered directly to qualified commercial borrowers, which do not qualify for hedge accounting, and therefore, all changes in fair value and gains and losses on these instruments are reported in earnings as they occur. The effects of netting arrangements are disclosed within the Notes of the Consolidated Financial Statements. The Corporation offers interest rate swap products directly to qualified commercial borrowers. The Corporation economically hedges client derivative transactions by entering into offsetting interest rate swap contracts executed with a third party. Derivative transactions executed as part of this program are not considered hedging instruments and are marked-to-market through earnings each period. The derivative contracts have mirror-image terms, which results in the positions’ changes in fair value offsetting through earnings each period. The credit risk and risk of non-performance embedded in the fair value calculations is different between the dealer counterparties and the commercial borrowers which may result in a difference in the changes in the fair value of the mirror-image swaps. The Corporation incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the counterparty’s risk in the fair value measurements. When evaluating the fair value of its derivative contracts for the effects of non-performance and credit risk, the Corporation considers the impact of netting and any applicable credit enhancements such as collateral postings, thresholds and guarantees.

The Corporation also enters into interest rate swaps to manage interest rate risk and reduce the cost of match-funding certain long-term fixed rate loans. These derivative contracts are designated as a cash flow hedge as the receipt of floating interest from the counterparty is used to manage interest rate risk associated with forecasted issuances of wholesale deposits and short-term FHLB advances. The change in fair value of the hedging instrument is recorded in accumulated other comprehensive income.

SBA Recourse Reserve. The Corporation establishes SBA recourse reserves on the guaranteed portions of sold SBA loans when it is probable that the SBA will deny or repair the guaranty on the sold portion of the loan and there is an estimated collateral shortfall. The recourse reserve is reported in accrued interest payable and other liabilities on the Consolidated Balance Sheets.

Income Taxes. Deferred income tax assets and liabilities are computed for temporary differences in timing between the financial statement and tax basis of assets and liabilities that result in taxable or deductible amounts in the future based on enacted tax law and rates applicable to periods in which the differences are expected to affect taxable income. The effect of a change in tax rates on deferred taxes is recognized in income in the period that includes the enactment date. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversals of deferred tax liabilities, appropriate tax planning strategies, and projections for future taxable income over the period which the deferred tax assets are deductible. When necessary, valuation allowances are established to reduce deferred tax assets to the estimated realizable amount.

Income tax expense or benefit represents the tax payable or tax refundable for a period, adjusted by the applicable change in deferred tax assets and liabilities for that period. The Corporation also invests in certain development entities that generate federal and state historic tax credits, low income housing tax credits, or solar renewable energy tax credits. The tax benefits associated with these investments are accounted for either under the flow-through method, equity method, or proportional amortization method and are recognized when the respective project is placed in service or over the investment term. The Corporation and its subsidiaries file a consolidated federal income tax return and separate state income tax returns. Tax sharing agreements allocate taxes to each legal entity for the settlement of intercompany taxes. The Corporation applies a more likely than not standard to each of its tax positions when determining the amount of tax expense or benefit to record in its financial statements. Unrecognized tax benefits are recorded in other liabilities. The Corporation recognizes accrued interest relating to unrecognized tax benefits in income tax expense and penalties in other non-interest expense.

Other Comprehensive Income or Loss. Comprehensive income or loss, shown as a separate financial statement, includes net income or loss, changes in unrealized gains and losses on available-for-sale securities, changes in deferred gains and losses on investment securities transferred from available-for-sale to held-to-maturity, if any, changes in unrealized gains and losses associated with cash flow hedging instruments, if any, and the amortization of deferred gains and losses associated with terminated cash flow hedges, if any. For the year ended December 31, 2025, no realized securities losses were recognized and reclassified out of accumulated other comprehensive loss. For the year ended December 31, 2024, $8,000 of realized securities losses were recognized and reclassified out of accumulated other comprehensive loss.

Earnings Per Common Share. Earnings per common share (“EPS”) is computed using the two-class method. Basic EPS is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding for the period, excluding any participating securities. Participating securities include unvested restricted shares. Unvested restricted shares are considered participating securities because holders of these securities receive non-forfeitable dividends at the same rate as the holders of the Corporation’s common stock. Diluted EPS is computed by dividing net income allocated to common shares adjusted for reallocation of undistributed earnings of unvested restricted shares by the weighted average number of common shares determined for the basic EPS plus the dilutive effect of common stock equivalents using the treasury stock method based on the average market price for the period.

Operating Segments. While the chief decision-makers monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Corporation-wide basis. Operating segments are aggregated into one as operating results for all segments are similar. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.

Share-Based Compensation. The Corporation may grant restricted stock awards, restricted stock units, and other stock based awards to plan participants, subject to forfeiture upon the occurrence of certain events until the dates specified in the participant’s award agreement. The Corporation accounts for forfeitures as they occur. While restricted stock is subject to forfeiture, restricted stock award participants may exercise full voting rights and will receive all dividends and other distributions paid with respect to the restricted shares. Dividend equivalent units with respect to restricted stock grants made after January 2023 will be deferred and paid at the time of vesting. Restricted stock units do not have voting rights and are provided dividend equivalents. The restricted stock granted under the 2019 Equity Incentive Plan (the “Plan”) is typically subject to a three or four year vesting period. Compensation expense for restricted stock is recognized over the requisite service period of three or four years for the entire award on a straight-line basis. Upon vesting of restricted stock, the benefit of tax deductions in excess of recognized compensation expense is reflected as an income tax benefit in the Consolidated Statements of Income.

The Corporation issues a combination of performance-based restricted stock units and restricted stock awards to plan participants. Vesting of the performance-based restricted stock units will be measured on Total Shareholder Return (“TSR”) and Return on Average Equity (“ROAE”) prior to 2023 or Return on Average Tangible Common Equity (“ROATCE”) for issuances after 2022, and will cliff-vest after a three-year measurement period based on the Corporation’s performance relative to a custom peer group. At the end of the performance period, the number of actual shares to be awarded varies between 0% and 200% of target amounts. Compensation expense is recognized for performance-based restricted stock units over the requisite service and performance period of generally three years for the entire expected award on a straight-line basis. The compensation expense for the awards expected to vest for the percentage of performance-based restricted stock units subject to the metric will be adjusted if there is a change in the expectation of metric. The compensation expense for the awards expected to vest for the percentage of performance-based restricted stock units subject to the TSR metric are never adjusted, and are amortized utilizing the accounting fair value provided using a Monte Carlo pricing model.

The Corporation offers an Employee Stock Purchase Plan (“ESPP”) to all qualifying employees. The plan qualifies as an ESPP under section 423 of the Internal Revenue Code of 1986. Under the ESPP, eligible employees may enroll in a three month offer period that begins January, April, July, and October of each year. Employees may purchase a limited number of shares of the Corporation’s common stock at 90% of the fair market value on the last day of the offering period. The ESPP is treated as a compensatory plan for purposes of share-based compensation expense.

Recent Accounting Pronouncements.

In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This update enhances the transparency and decision usefulness of income tax disclosures by providing better information regarding exposure to potential changes in jurisdictional tax legislation and related forecasting and cash flow opportunities. This update is effective for fiscal years beginning after December 15, 2024. The Corporation adopted this disclosure standard as of December 31, 2025. The adoption of this standard had no affect on net income, stockholders' equity or cash flows.

In November 2024, the FASB issued ASU No. 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40).” This update improves the transparency and usefulness of financial statements by requiring companies to break down certain expense line items. This update is effective for fiscal years beginning after December 15, 2026. The Corporation will implement this standard when it becomes effective. The adoption of the standard only requires additional disclosures and therefore will not affect net income, stockholders' equity or cash flows.

In September 2025, the FASB issued ASU No. 2025-06, “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” This update modernizes the accounting for internal-use software. This update is effective for fiscal years beginning after December 15, 2027. The Corporation is assessing the impact of this standard.

Reclassifications. Certain amounts in the 2024 consolidated financial statements have been reclassified to conform to the 2025 presentation. These reclassifications were not material and did not impact previously reported net income or comprehensive income.
v3.25.4
Cash and Cash Equivalents
 12 Months Ended
Dec. 31, 2025
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalents

Note 2 — Cash and Cash Equivalents

Cash and due from banks was approximately $30.8 million and $29.5 million at December 31, 2025 and 2024, respectively. As of March 26, 2020, the Federal Reserve Bank (“FRB”) reduced reserve requirement ratios to zero percent for all depository institutions. FRB balances were $7.7 million and $127.8 million at December 31, 2025 and 2024, respectively, and are included in short-term investments on the Consolidated Balance Sheets. Short-term investments, considered cash equivalents, were $8.7 million and $128.2 million at December 31, 2025 and 2024, respectively.

v3.25.4
Securities
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Securities

Note 3 — Securities

The amortized cost and fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows:

 

 

 

As of December 31, 2025

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair Value

 

 

 

(In Thousands)

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

4,995

 

 

$

—

 

 

$

(94

)

 

$

4,901

 

U.S. government agency securities -
   government-sponsored enterprises

 

 

2,500

 

 

 

—

 

 

 

(186

)

 

 

2,314

 

Municipal securities

 

 

46,993

 

 

 

328

 

 

 

(3,429

)

 

 

43,892

 

Residential mortgage-backed securities -
   government issued

 

 

166,933

 

 

 

1,279

 

 

 

(1,577

)

 

 

166,635

 

Residential mortgage-backed securities -
   government-sponsored enterprises

 

 

168,544

 

 

 

929

 

 

 

(6,930

)

 

 

162,543

 

Commercial mortgage-backed securities -
   government issued

 

 

2,416

 

 

 

—

 

 

 

(302

)

 

 

2,114

 

Commercial mortgage-backed securities -
   government-sponsored enterprises

 

 

42,326

 

 

 

71

 

 

 

(2,709

)

 

 

39,688

 

 

 

$

434,707

 

 

$

2,607

 

 

$

(15,227

)

 

$

422,087

 

 

 

 

 

As of December 31, 2024

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair Value

 

 

 

(In Thousands)

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

4,989

 

 

$

—

 

 

$

(271

)

 

$

4,718

 

U.S. government agency securities -
   government-sponsored enterprises

 

 

3,500

 

 

 

—

 

 

 

(347

)

 

 

3,153

 

Municipal securities

 

 

39,997

 

 

 

—

 

 

 

(5,136

)

 

 

34,861

 

Residential mortgage-backed securities -
   government issued

 

 

125,571

 

 

 

470

 

 

 

(2,818

)

 

 

123,223

 

Residential mortgage-backed securities -
   government-sponsored enterprises

 

 

145,888

 

 

 

234

 

 

 

(11,357

)

 

 

134,765

 

Commercial mortgage-backed securities -
   government issued

 

 

2,665

 

 

 

—

 

 

 

(441

)

 

 

2,224

 

Commercial mortgage-backed securities -
   government-sponsored enterprises

 

 

43,033

 

 

 

24

 

 

 

(4,609

)

 

 

38,448

 

 

 

$

365,643

 

 

$

728

 

 

$

(24,979

)

 

$

341,392

 

 

The amortized cost and fair value of securities held-to-maturity and the corresponding amounts of gross unrecognized gains and losses were as follows:

 

 

 

As of December 31, 2025

 

 

 

Amortized
Cost

 

 

Gross
Unrecognized
Gains

 

 

Gross
Unrecognized
Losses

 

 

Fair Value

 

 

 

(In Thousands)

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Municipal securities

 

$

2,144

 

 

$

—

 

 

$

(3

)

 

$

2,141

 

Residential mortgage-backed securities -
   government issued

 

 

546

 

 

 

—

 

 

 

(26

)

 

 

520

 

Residential mortgage-backed securities -
   government-sponsored enterprises

 

 

518

 

 

 

—

 

 

 

(18

)

 

 

500

 

Commercial mortgage-backed securities -
   government-sponsored enterprises

 

 

2,002

 

 

 

—

 

 

 

(22

)

 

 

1,980

 

 

 

$

5,210

 

 

$

—

 

 

$

(69

)

 

$

5,141

 

 

 

 

As of December 31, 2024

 

 

 

Amortized
Cost

 

 

Gross
Unrecognized
Gains

 

 

Gross
Unrecognized
Losses

 

 

Fair Value

 

 

 

(In Thousands)

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Municipal securities

 

$

3,137

 

 

$

—

 

 

$

(38

)

 

$

3,099

 

Residential mortgage-backed securities -
   government issued

 

 

836

 

 

 

—

 

 

 

(48

)

 

 

788

 

Residential mortgage-backed securities -
   government-sponsored enterprises

 

 

766

 

 

 

—

 

 

 

(42

)

 

 

724

 

Commercial mortgage-backed securities -
   government-sponsored enterprises

 

 

2,002

 

 

 

—

 

 

 

(78

)

 

 

1,924

 

 

 

$

6,741

 

 

$

—

 

 

$

(206

)

 

$

6,535

 

 

U.S. Treasuries contain treasury bonds issued by the United States Treasury. U.S. government agency securities - government-sponsored enterprises represent securities issued by Federal National Mortgage Association (“FNMA”) and the SBA. Municipal securities include securities issued by various municipalities located primarily within Wisconsin and are primarily general obligation bonds that are tax-exempt in nature. Residential and commercial mortgage-backed securities - government issued represent securities guaranteed by the Government National Mortgage Association. Residential and commercial mortgage-backed securities -

government-sponsored enterprises include securities guaranteed by the Federal Home Loan Mortgage Corporation, FNMA, and the FHLB. The Corporation sold no available-for-sale securities during the year ended December 31, 2025 and five available-for-sale securities during the year ended December 31, 2024.

Total proceeds and gross realized gains and losses from sales of securities available-for-sale were as follows:

 

 

 

For the Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(In Thousands)

 

Gross gains

 

$

—

 

 

$

—

 

 

$

68

 

Gross losses

 

 

—

 

 

 

(8

)

 

 

(113

)

Net losses on sale of available-for-sale securities

 

$

—

 

 

$

(8

)

 

$

(45

)

Proceeds from sale of available-for-sale securities

 

$

—

 

 

$

7,533

 

 

$

5,085

 

 

At December 31, 2025 and December 31, 2024, securities with a fair value of $38.8 million and $36.9 million, respectively, were pledged to secure various obligations, including interest rate swap contracts and municipal deposits.

The amortized cost and fair value of securities by contractual maturity at December 31, 2025 are shown below. Actual maturities may differ from contractual maturities because issuers have the right to call or prepay certain obligations with or without call or prepayment penalties.

 

 

 

Available-for-Sale

 

 

Held-to-Maturity

 

 

 

Amortized
Cost

 

 

Fair Value

 

 

Amortized
Cost

 

 

Fair Value

 

 

 

(In Thousands)

 

Due in one year or less

 

$

5,933

 

 

$

5,833

 

 

$

745

 

 

$

744

 

Due in one year through five years

 

 

12,905

 

 

 

12,373

 

 

 

1,399

 

 

 

1,397

 

Due in five through ten years

 

 

9,652

 

 

 

9,109

 

 

 

—

 

 

 

—

 

Due in over ten years

 

 

25,998

 

 

 

23,792

 

 

 

—

 

 

 

—

 

 

 

 

54,488

 

 

 

51,107

 

 

 

2,144

 

 

 

2,141

 

Residential mortgage-backed securities

 

 

335,477

 

 

 

329,178

 

 

 

1,064

 

 

 

1,020

 

Commercial mortgage-backed securities

 

 

44,742

 

 

 

41,802

 

 

 

2,002

 

 

 

1,980

 

 

 

$

434,707

 

 

$

422,087

 

 

$

5,210

 

 

$

5,141

 

 

The tables below show the Corporation’s gross unrealized losses and fair value of available-for-sale investments aggregated by investment category and length of time that individual investments were in a continuous loss position at December 31, 2025 and December 31, 2024. At December 31, 2025, the Corporation held 166 available-for-sale securities that were in an unrealized loss position, 155 of which have been in a continuous unrealized loss position for twelve months or greater.

The Corporation has not specifically identified available-for-sale securities in a loss position that it intends to sell in the near term and does not believe that it will be required to sell any such securities. The Corporation reviews its securities on a quarterly basis to assess declines in fair value for credit losses. Consideration is given to such factors as the credit rating of the borrower, market conditions such as current interest rates, any adverse conditions specific to the security, and delinquency status on contractual payments. For the years ended December 31, 2025 and 2024, management concluded that in all instances securities with fair value less than carrying value was due to market factors; thus, no credit loss provision was required.

A summary of unrealized loss information for securities available-for-sale, categorized by security type and length of time for which the security has been in a continuous unrealized loss position, follows:

 

 

 

As of December 31, 2025

 

 

 

Less than 12 Months

 

 

12 Months or Longer

 

 

Total

 

 

 

Fair Value

 

 

Unrealized
Losses

 

 

Fair Value

 

 

Unrealized
Losses

 

 

Fair Value

 

 

Unrealized
Losses

 

 

 

(In Thousands)

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

—

 

 

$

—

 

 

$

4,901

 

 

$

94

 

 

$

4,901

 

 

$

94

 

U.S. government agency securities -
   government- sponsored enterprises

 

 

—

 

 

 

—

 

 

 

2,314

 

 

 

186

 

 

 

2,314

 

 

 

186

 

Municipal securities

 

 

—

 

 

 

—

 

 

 

34,660

 

 

 

3,429

 

 

 

34,660

 

 

 

3,429

 

Residential mortgage-backed securities -
   government issued

 

 

25,970

 

 

 

85

 

 

 

17,454

 

 

 

1,492

 

 

 

43,424

 

 

 

1,577

 

Residential mortgage-backed securities -
   government-sponsored enterprises

 

 

14,002

 

 

 

73

 

 

 

72,481

 

 

 

6,857

 

 

 

86,483

 

 

 

6,930

 

Commercial mortgage-backed securities -
   government issued

 

 

—

 

 

 

—

 

 

 

2,114

 

 

 

302

 

 

 

2,114

 

 

 

302

 

Commercial mortgage-backed securities -
   government-sponsored enterprises

 

 

5,971

 

 

 

44

 

 

 

27,575

 

 

 

2,665

 

 

 

33,546

 

 

 

2,709

 

 

 

$

45,943

 

 

$

202

 

 

$

161,499

 

 

$

15,025

 

 

$

207,442

 

 

$

15,227

 

 

 

 

As of December 31, 2024

 

 

 

Less than 12 Months

 

 

12 Months or Longer

 

 

Total

 

 

 

Fair Value

 

 

Unrealized
Losses

 

 

Fair Value

 

 

Unrealized
Losses

 

 

Fair Value

 

 

Unrealized
Losses

 

 

 

(In Thousands)

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

—

 

 

$

—

 

 

$

4,718

 

 

$

271

 

 

$

4,718

 

 

$

271

 

U.S. government agency securities -
   government- sponsored enterprises

 

 

—

 

 

 

—

 

 

 

3,153

 

 

 

347

 

 

 

3,153

 

 

 

347

 

Municipal securities

 

 

—

 

 

 

—

 

 

 

34,861

 

 

 

5,136

 

 

 

34,861

 

 

 

5,136

 

Residential mortgage-backed securities -
   government issued

 

 

40,320

 

 

 

374

 

 

 

18,999

 

 

 

2,444

 

 

 

59,319

 

 

 

2,818

 

Residential mortgage-backed securities -
   government-sponsored enterprises

 

 

43,907

 

 

 

995

 

 

 

71,103

 

 

 

10,362

 

 

 

115,010

 

 

 

11,357

 

Commercial mortgage-backed securities -
   government issued

 

 

—

 

 

 

—

 

 

 

2,224

 

 

 

441

 

 

 

2,224

 

 

 

441

 

Commercial mortgage-backed securities -
   government-sponsored enterprises

 

 

10,717

 

 

 

425

 

 

 

26,751

 

 

 

4,184

 

 

 

37,468

 

 

 

4,609

 

 

 

$

94,944

 

 

$

1,794

 

 

$

161,809

 

 

$

23,185

 

 

$

256,753

 

 

$

24,979

 

 

The tables below show the Corporation’s gross unrealized losses and fair value of held-to-maturity investments, aggregated by investment category and length of time that individual investments were in a continuous loss position at December 31, 2025 and December 31, 2024. At December 31, 2025, the Corporation held 19 held-to-maturity securities that were in an unrealized loss position, 17 of which have been in a continuous loss position for twelve months or greater. Management assesses held-to-maturity securities for credit losses on a quarterly basis. The assessment includes review of credit ratings, identification of delinquency and evaluation of market factors. Based on this analysis, management concludes the decline in fair value is due to market factors, specifically changes in interest rates. Accordingly, no credit loss provision was recorded in the Consolidated Statements of Income for the years ended December 31, 2025, 2024, and 2023.

A summary of unrecognized loss information for securities held-to-maturity, categorized by security type and length of time for which the security has been in a continuous unrealized loss position, follows:

 

 

 

As of December 31, 2025

 

 

 

Less than 12 Months

 

 

12 Months or Longer

 

 

Total

 

 

 

Fair Value

 

 

Unrecognized
Losses

 

 

Fair Value

 

 

Unrecognized
Losses

 

 

Fair Value

 

 

Unrecognized
Losses

 

 

 

(In Thousands)

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal securities

 

$

959

 

 

$

1

 

 

$

680

 

 

$

2

 

 

$

1,639

 

 

$

3

 

Residential mortgage-backed
   securities - government issued

 

 

—

 

 

 

—

 

 

 

520

 

 

 

26

 

 

 

520

 

 

 

26

 

Residential mortgage-backed
   securities - government-
   sponsored enterprises

 

 

—

 

 

 

—

 

 

 

500

 

 

 

18

 

 

 

500

 

 

 

18

 

Commercial mortgage-backed
   securities - government-
   sponsored enterprises

 

 

—

 

 

 

—

 

 

 

1,980

 

 

 

22

 

 

 

1,980

 

 

 

22

 

 

 

$

959

 

 

$

1

 

 

$

3,680

 

 

$

68

 

 

$

4,639

 

 

$

69

 

 

 

 

As of December 31, 2024

 

 

 

Less than 12 Months

 

 

12 Months or Longer

 

 

Total

 

 

 

Fair Value

 

 

Unrecognized
Losses

 

 

Fair Value

 

 

Unrecognized
Losses

 

 

Fair Value

 

 

Unrecognized
Losses

 

 

 

(In Thousands)

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal securities

 

$

454

 

 

$

5

 

 

$

2,139

 

 

$

33

 

 

$

2,593

 

 

$

38

 

Residential mortgage-backed
   securities - government issued

 

 

—

 

 

 

—

 

 

 

788

 

 

 

48

 

 

 

788

 

 

 

48

 

Residential mortgage-backed
   securities - government-
   sponsored enterprises

 

 

—

 

 

 

—

 

 

 

724

 

 

 

42

 

 

 

724

 

 

 

42

 

Commercial mortgage-backed
   securities - government-
   sponsored enterprises

 

 

—

 

 

 

—

 

 

 

1,924

 

 

 

78

 

 

 

1,924

 

 

 

78

 

 

 

$

454

 

 

$

5

 

 

$

5,575

 

 

$

201

 

 

$

6,029

 

 

$

206

 
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Loans, Lease Receivables, and Allowance for Credit Losses

Note 4 — Loans, Lease Receivables, and Allowance for Credit Losses

Loan and lease receivables consist of the following:

 

 

 

December 31,
2025

 

 

December 31,
2024

 

 

 

(In Thousands)

 

Commercial real estate:

 

 

 

 

 

 

Commercial real estate — owner occupied

 

$

293,706

 

 

$

273,397

 

Commercial real estate — non-owner occupied

 

 

885,870

 

 

 

845,298

 

Construction and land development

 

 

248,560

 

 

 

221,086

 

Multi-family

 

 

571,468

 

 

 

530,853

 

1-4 family

 

 

60,661

 

 

 

46,496

 

Total commercial real estate

 

 

2,060,265

 

 

 

1,917,130

 

Commercial and industrial

 

 

1,273,997

 

 

 

1,151,720

 

Consumer and other

 

 

40,965

 

 

 

45,000

 

Total gross loans and leases receivable

 

 

3,375,227

 

 

 

3,113,850

 

Less:

 

 

 

 

 

 

Allowance for credit losses

 

 

35,877

 

 

 

35,785

 

Deferred loan fees and costs, net

 

 

1,986

 

 

 

722

 

Loans and leases receivable, net

 

$

3,337,364

 

 

$

3,077,343

 

 

 

Loans transferred to third parties consist of the guaranteed portions of SBA loans which the Corporation sold in the secondary market and participation interests in other, non-SBA originated loans.

 

The following table presents loans transferred and/or purchased during the year:

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In Thousands)

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and Land Development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

SBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans transferred to third parties

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

18,864

 

 

$

—

 

 

$

18,864

 

Outstanding balance of loans serviced

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

82,022

 

 

 

—

 

 

 

82,022

 

Ownership of transferred loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

24,919

 

 

 

—

 

 

 

24,919

 

Non-SBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans transferred to third parties

 

$

—

 

 

$

22,146

 

 

$

59,702

 

 

$

4,583

 

 

$

—

 

 

$

24,038

 

 

$

—

 

 

$

110,469

 

Outstanding balance of loans serviced

 

 

12,133

 

 

 

158,579

 

 

 

43,846

 

 

 

151,610

 

 

 

—

 

 

 

19,671

 

 

 

—

 

 

 

385,839

 

Ownership of transferred loans

 

 

6,933

 

 

 

219,426

 

 

 

68,447

 

 

 

137,864

 

 

 

—

 

 

 

24,093

 

 

 

—

 

 

 

456,763

 

Loan participations purchased

 

 

—

 

 

 

—

 

 

 

—

 

 

 

9,774

 

 

 

—

 

 

 

9,695

 

 

 

—

 

 

 

19,469

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In Thousands)

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and Land Development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans transferred to third parties

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

20,670

 

 

$

—

 

 

$

20,670

 

Outstanding balance of loans serviced

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

79,365

 

 

 

—

 

 

 

79,365

 

Ownership of transferred loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

23,916

 

 

 

—

 

 

 

23,916

 

Non-SBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans transferred to third parties

 

$

—

 

 

$

32,253

 

 

$

74,052

 

 

$

11,682

 

 

$

—

 

 

$

19,982

 

 

$

—

 

 

$

137,969

 

Outstanding balance of loans serviced

 

 

18,449

 

 

 

166,283

 

 

 

41,241

 

 

 

127,479

 

 

 

—

 

 

 

19,616

 

 

 

—

 

 

 

373,068

 

Ownership of transferred loans

 

 

10,286

 

 

 

233,349

 

 

 

29,762

 

 

 

127,702

 

 

 

—

 

 

 

22,607

 

 

 

—

 

 

 

423,706

 

Loan participations purchased

 

 

—

 

 

 

—

 

 

 

5,318

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,318

 

 

Certain of the Corporation’s executive officers, directors, and their related interests are loan clients of the Bank. These loans to related parties are summarized below:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

(In Thousands)

 

Balance at beginning of year

 

$

245

 

 

$

263

 

New loans

 

 

272

 

 

 

381

 

Repayments

 

 

(226

)

 

 

(399

)

Balance at end of year

 

$

291

 

 

$

245

 

 

The Corporation’s net investment in direct financing leases consists of the following:

 

 

 

December 31,

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

 

(In Thousands)

 

Minimum lease payments receivable

 

$

7,093

 

 

$

8,975

 

Estimated unguaranteed residual values in leased property

 

 

668

 

 

 

632

 

Unearned lease and residual income

 

 

(884

)

 

 

(1,148

)

Investment in commercial direct financing leases

 

$

6,877

 

 

$

8,459

 

 

The Corporation leases equipment under direct financing leases expiring in future years. Some of these leases provide for additional rents and generally allow the lessees to purchase the equipment for fair value at the end of the lease term.

Future aggregate maturities of minimum lease payments to be received are as follows:

 

(In Thousands)

 

 

 

Maturities during year ended December 31,

 

 

 

2026

 

$

2,640

 

2027

 

 

2,103

 

2028

 

 

1,322

 

2029

 

 

632

 

2030

 

 

229

 

Thereafter

 

 

167

 

 

 

$

7,093

 

 

The following table illustrates ending balances of the Corporation’s loan and lease portfolio, including non-accrual loans by class of receivable, and considering certain credit quality indicators:

 

December 31, 2025

 

Term Loans Amortized Cost Basis by Origination Year

 

 

 

 

 

 

(In Thousands)

 

2025

 

2024

 

2023

 

2022

 

2021

 

Prior

 

Revolving
Loans
Amortized
Cost Basis

 

Total

 

Category as a % of total portfolio

Commercial real estate —
   owner occupied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$65,752

 

$20,422

 

$39,698

 

$32,186

 

$30,251

 

$92,981

 

$295

 

$281,585

 

95.9%

II

 

—

 

—

 

2,011

 

—

 

—

 

—

 

—

 

2,011

 

0.7%

III

 

—

 

2,197

 

—

 

—

 

—

 

7,913

 

—

 

10,110

 

3.4%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$65,752

 

$22,619

 

$41,709

 

$32,186

 

$30,251

 

$100,894

 

$295

 

$293,706

 

100.0%

Commercial real estate —
   non-owner occupied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$85,103

 

$81,087

 

$108,308

 

$89,226

 

$63,803

 

$392,720

 

$34,236

 

854,483

 

96.4%

II

 

—

 

—

 

—

 

—

 

—

 

6,863

 

—

 

6,863

 

0.8%

III

 

—

 

—

 

—

 

—

 

716

 

23,808

 

—

 

24,524

 

2.8%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$85,103

 

$81,087

 

$108,308

 

$89,226

 

$64,519

 

$423,391

 

$34,236

 

$885,870

 

100.0%

Construction and land
   development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$35,887

 

$73,179

 

$78,264

 

$10,278

 

$91

 

$5,043

 

$25,482

 

$228,224

 

91.8%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

—

 

—

 

5,755

 

—

 

—

 

—

 

—

 

5,755

 

2.3%

IV

 

—

 

—

 

—

 

454

 

8,155

 

5,972

 

—

 

14,581

 

5.9%

Total

 

$35,887

 

$73,179

 

$84,019

 

$10,732

 

$8,246

 

$11,015

 

$25,482

 

$248,560

 

100.0%

Multi-family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$57,113

 

$18,231

 

$103,795

 

$93,280

 

$61,620

 

$211,473

 

$2,644

 

$548,156

 

95.9%

II

 

—

 

—

 

1,530

 

7,309

 

—

 

782

 

—

 

9,621

 

1.7%

III

 

—

 

—

 

—

 

—

 

8,380

 

1,019

 

—

 

9,399

 

1.6%

IV

 

—

 

—

 

1,714

 

—

 

2,578

 

—

 

—

 

4,292

 

0.8%

Total

 

$57,113

 

$18,231

 

$107,039

 

$100,589

 

$72,578

 

$213,274

 

$2,644

 

$571,468

 

100.0%

1-4 family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$18,249

 

$7,043

 

$1,416

 

$4,432

 

$2,036

 

$3,470

 

$24,015

 

$60,661

 

100.0%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$18,249

 

$7,043

 

$1,416

 

$4,432

 

$2,036

 

$3,470

 

$24,015

 

$60,661

 

100.0%

Commercial and industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$240,914

 

$178,507

 

$138,504

 

$52,149

 

$35,514

 

$31,754

 

$452,160

 

$1,129,502

 

88.6%

II

 

568

 

14,119

 

10,997

 

5,948

 

25

 

2,797

 

24,140

 

58,594

 

4.6%

III

 

499

 

8,617

 

10,409

 

4,656

 

787

 

1,745

 

34,206

 

60,919

 

4.8%

IV

 

447

 

1,845

 

3,384

 

7,644

 

302

 

4,083

 

7,277

 

24,982

 

2.0%

Total

 

$242,428

 

$203,088

 

$163,294

 

$70,397

 

$36,628

 

$40,379

 

$517,783

 

$1,273,997

 

100.0%

Consumer and other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$7,790

 

$5,715

 

$4,167

 

$4,926

 

$1,717

 

$10,423

 

$6,227

 

$40,965

 

100.0%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$7,790

 

$5,715

 

$4,167

 

$4,926

 

$1,717

 

$10,423

 

$6,227

 

$40,965

 

100.0%

Total Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$510,808

 

$384,184

 

$474,152

 

$286,477

 

$195,032

 

$747,864

 

$545,059

 

$3,143,576

 

93.1%

II

 

568

 

14,119

 

14,538

 

13,257

 

25

 

10,442

 

24,140

 

77,089

 

2.3%

III

 

499

 

10,814

 

16,164

 

4,656

 

9,883

 

34,485

 

34,206

 

110,707

 

3.3%

IV

 

447

 

1,845

 

5,098

 

8,098

 

11,035

 

10,055

 

7,277

 

43,855

 

1.3%

Total

 

$512,322

 

$410,962

 

$509,952

 

$312,488

 

$215,975

 

$802,846

 

$610,682

 

$3,375,227

 

100.0%

 

 

December 31, 2024

 

Term Loans Amortized Cost Basis by Origination Year

 

 

 

 

 

 

(In Thousands)

 

2024

 

2023

 

2022

 

2021

 

2020

 

Prior

 

Revolving
Loans
Amortized
Cost Basis

 

Total

 

Category as a % of total portfolio

Commercial real estate —
   owner occupied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$26,508

 

$45,066

 

$42,849

 

$34,486

 

$37,078

 

$85,405

 

$447

 

$271,839

 

99.4%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

750

 

—

 

—

 

—

 

—

 

217

 

—

 

967

 

0.4%

IV

 

—

 

—

 

—

 

—

 

—

 

591

 

—

 

591

 

0.2%

Total

 

$27,258

 

$45,066

 

$42,849

 

$34,486

 

$37,078

 

$86,213

 

$447

 

$273,397

 

100.0%

Commercial real estate —
   non-owner occupied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$80,371

 

$85,651

 

$89,181

 

$69,129

 

$85,238

 

$340,802

 

$37,129

 

$787,501

 

93.2%

II

 

—

 

—

 

—

 

—

 

2,150

 

31,720

 

—

 

33,870

 

4.0%

III

 

—

 

638

 

—

 

—

 

—

 

23,289

 

—

 

23,927

 

2.8%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$80,371

 

$86,289

 

$89,181

 

$69,129

 

$87,388

 

$395,811

 

$37,129

 

$845,298

 

100.0%

Construction and land
   development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$36,135

 

$110,437

 

$24,302

 

$1,183

 

$719

 

$5,520

 

$28,205

 

$206,501

 

93.4%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

—

 

—

 

454

 

8,155

 

5,713

 

263

 

—

 

14,585

 

6.6%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$36,135

 

$110,437

 

$24,756

 

$9,338

 

$6,432

 

$5,783

 

$28,205

 

$221,086

 

100.0%

Multi-family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$40,079

 

$102,886

 

$74,753

 

$66,775

 

$97,303

 

$134,331

 

$2,288

 

$518,415

 

97.6%

II

 

—

 

—

 

7,407

 

2,584

 

—

 

1,043

 

—

 

11,034

 

2.1%

III

 

—

 

—

 

—

 

1,404

 

—

 

—

 

—

 

1,404

 

0.3%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$40,079

 

$102,886

 

$82,160

 

$70,763

 

$97,303

 

$135,374

 

$2,288

 

$530,853

 

100.0%

1-4 family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$15,220

 

$4,200

 

$7,005

 

$2,336

 

$2,282

 

$2,178

 

$13,275

 

$46,496

 

100.0%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$15,220

 

$4,200

 

$7,005

 

$2,336

 

$2,282

 

$2,178

 

$13,275

 

$46,496

 

100.0%

Commercial and industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$259,976

 

$213,860

 

$93,119

 

$50,697

 

$23,960

 

$26,038

 

$369,740

 

$1,037,390

 

90.1%

II

 

316

 

2,700

 

2,657

 

—

 

470

 

8

 

7,676

 

13,827

 

1.2%

III

 

4,205

 

8,179

 

3,909

 

2,749

 

2,446

 

5,289

 

45,950

 

72,727

 

6.3%

IV

 

536

 

4,060

 

6,245

 

1,038

 

274

 

2,519

 

13,104

 

27,776

 

2.4%

Total

 

$265,033

 

$228,799

 

$105,930

 

$54,484

 

$27,150

 

$33,854

 

$436,470

 

$1,151,720

 

100.0%

Consumer and other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$6,955

 

$5,244

 

$7,416

 

$2,764

 

$10,994

 

$3,885

 

$7,742

 

$45,000

 

100.0%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$6,955

 

$5,244

 

$7,416

 

$2,764

 

$10,994

 

$3,885

 

$7,742

 

$45,000

 

100.0%

Total Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$465,244

 

$567,344

 

$338,625

 

$227,370

 

$257,574

 

$598,159

 

$458,826

 

$2,913,142

 

93.6%

II

 

316

 

2,700

 

10,064

 

2,584

 

2,620

 

32,771

 

7,676

 

58,731

 

1.9%

III

 

4,955

 

8,817

 

4,363

 

12,308

 

8,159

 

29,058

 

45,950

 

113,610

 

3.6%

IV

 

536

 

4,060

 

6,245

 

1,038

 

274

 

3,110

 

13,104

 

28,367

 

0.9%

Total

 

$471,051

 

$582,921

 

$359,297

 

$243,300

 

$268,627

 

$663,098

 

$525,556

 

$3,113,850

 

100.0%

 

Each credit is evaluated for proper risk rating upon origination, at the time of each subsequent renewal, upon receipt and evaluation of updated financial information from the Corporation’s borrowers, or as other circumstances dictate. The Corporation uses a nine grade

risk rating system to monitor the ongoing credit quality of its loans and leases. The risk rating grades follow a consistent definition and are then applied to specific loan types based on the nature of the loan. Each risk rating is determined based on various quantitative and qualitative factors and is subject to various levels of review and concurrence on the stated risk rating. In addition to its nine grade risk rating system, the Corporation groups loans into four loan and related risk categories which determine the level and nature of review by management.

Category I — Loans and leases in this category are performing in accordance with the terms of the contract and generally exhibit no immediate concerns regarding the security and viability of the underlying collateral, financial stability of the borrower, integrity or strength of the borrowers’ management team, or the industry in which the borrower operates. The Corporation monitors Category I loans and leases through payment performance, continued maintenance of its personal relationships with such borrowers, and continued review of such borrowers’ compliance with the terms of their respective agreements.

Category II — Loans and leases in this category are beginning to show signs of deterioration in one or more of the Corporation’s core underwriting criteria such as financial stability, management strength, industry trends, or collateral values. Management will place credits in this category to allow for proactive monitoring and resolution with the borrower to possibly mitigate the area of concern and prevent further deterioration or risk of loss to the Corporation. Category II loans are considered performing but are monitored frequently by the assigned business development officer and by asset quality review committees.

Category III — Loans and leases in this category are identified by management as warranting special attention. However, the balance in this category is not intended to represent the amount of adversely classified assets held by the Bank. Category III loans and leases generally exhibit undesirable characteristics, such as evidence of adverse financial trends and conditions, managerial problems, deteriorating economic conditions within the related industry, or evidence of adverse public filings and may exhibit collateral shortfall positions. Management continues to believe that it will collect all contractual principal and interest in accordance with the original terms of the contracts relating to the loans and leases in this category, and therefore Category III loans are considered performing with no specific reserves established for this category. Category III loans are monitored by management and asset quality review committees on a monthly basis.

Category IV — Loans and leases in this category are non-accrual loans. Management has determined that it is unlikely that the Bank will receive the contractual principal and interest in accordance with the original terms of the agreement. Non-accrual loans are individually evaluated to assess the need for the establishment of specific reserves or charge-offs. When analyzing the adequacy of collateral, the Corporation obtains external appraisals at least annually. External appraisals are obtained from the Corporation’s approved appraiser listing and are independently reviewed to monitor the quality of such appraisals. To the extent a collateral shortfall position is present, a specific reserve or charge-off will be recorded. Loans and leases in this category are monitored by management and asset quality review committees on a monthly basis.

The delinquency aging of the loan and lease portfolio by class of receivable was as follows:

 

 

 

December 31, 2025

 

 

 

30-59
Days Past
Due

 

 

60-89
Days Past
Due

 

 

Greater
Than 90
Days Past
Due

 

 

Total Past
Due

 

 

Current

 

 

Total
Loans and
Leases

 

 

 

(Dollars in Thousands)

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

293,706

 

 

$

293,706

 

Non-owner occupied

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

885,870

 

 

 

885,870

 

Construction and land
   development

 

 

14,581

 

 

 

—

 

 

 

—

 

 

 

14,581

 

 

 

233,979

 

 

 

248,560

 

Multi-family

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

571,468

 

 

 

571,468

 

1-4 family

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

60,661

 

 

 

60,661

 

Commercial and industrial

 

 

3,116

 

 

 

963

 

 

 

15,229

 

 

 

19,308

 

 

 

1,254,689

 

 

 

1,273,997

 

Consumer and other

 

 

50

 

 

 

—

 

 

 

—

 

 

 

50

 

 

 

40,915

 

 

 

40,965

 

Total

 

$

17,747

 

 

$

963

 

 

$

15,229

 

 

$

33,939

 

 

$

3,341,288

 

 

$

3,375,227

 

Percent of portfolio

 

 

0.53

%

 

 

0.03

%

 

 

0.45

%

 

 

1.01

%

 

 

98.99

%

 

 

100.00

%

 

 

 

 

December 31, 2024

 

 

 

30-59
Days Past
Due

 

 

60-89
Days Past
Due

 

 

Greater
Than 90
Days Past
Due

 

 

Total Past
Due

 

 

Current

 

 

Total
Loans and
Leases

 

 

 

(Dollars in Thousands)

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

$

1,102

 

 

$

—

 

 

$

—

 

 

$

1,102

 

 

$

272,295

 

 

$

273,397

 

Non-owner occupied

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

845,298

 

 

 

845,298

 

Construction and land
   development

 

 

14,321

 

 

 

263

 

 

 

—

 

 

 

14,584

 

 

 

206,502

 

 

 

221,086

 

Multi-family

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

530,853

 

 

 

530,853

 

1-4 family

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

46,496

 

 

 

46,496

 

Commercial and industrial

 

 

5,405

 

 

 

1,072

 

 

 

18,984

 

 

 

25,461

 

 

 

1,126,259

 

 

 

1,151,720

 

Consumer and other

 

 

—

 

 

 

10

 

 

 

—

 

 

 

10

 

 

 

44,990

 

 

 

45,000

 

Total

 

$

20,828

 

 

$

1,345

 

 

$

18,984

 

 

$

41,157

 

 

$

3,072,693

 

 

$

3,113,850

 

Percent of portfolio

 

 

0.67

%

 

 

0.04

%

 

 

0.61

%

 

 

1.32

%

 

 

98.68

%

 

 

100.00

%

 

The following tables provide additional detail on loans on non-accrual status and loans past due over 89 days still accruing as of:

 

 

 

December 31, 2025

 

 

 

Non-accrual
With No
Allowance for
Credit Loss

 

 

Non-accrual
With
Allowance
for Credit
Loss

 

 

Loans Past
Due Over
89 Days
Still Accruing

 

 

 

(In Thousands)

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

Commercial real estate — owner occupied

 

$

—

 

 

$

—

 

 

$

—

 

Commercial real estate — non-owner occupied

 

 

—

 

 

 

—

 

 

 

—

 

Construction and land development

 

 

14,581

 

 

 

—

 

 

 

—

 

Multi-family

 

 

4,292

 

 

 

—

 

 

 

—

 

1-4 family

 

 

—

 

 

 

—

 

 

 

—

 

Total commercial real estate

 

 

18,873

 

 

 

—

 

 

 

—

 

Commercial and industrial

 

 

10,652

 

 

 

14,330

 

 

 

—

 

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

Total non-accrual loans and leases

 

$

29,525

 

 

$

14,330

 

 

$

—

 

 

 

 

December 31, 2024

 

 

 

Non-accrual
With No
Allowance for
Credit Loss

 

 

Non-accrual
With
Allowance
for Credit
Loss

 

 

Loans Past
Due Over
89 Days
Still Accruing

 

 

 

(In Thousands)

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

Commercial real estate — owner occupied

 

$

—

 

 

$

591

 

 

$

—

 

Commercial real estate — non-owner occupied

 

 

—

 

 

 

—

 

 

 

—

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

Multi-family

 

 

—

 

 

 

—

 

 

 

—

 

1-4 family

 

 

—

 

 

 

—

 

 

 

—

 

Total commercial real estate

 

 

—

 

 

 

591

 

 

 

—

 

Commercial and industrial

 

 

13,125

 

 

 

14,651

 

 

 

—

 

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

Total non-accrual loans and leases

 

$

13,125

 

 

$

15,242

 

 

$

—

 

 

 

 

December 31,
2025

 

 

December 31,
2024

 

Total non-accrual loans and leases to gross loans and leases

 

 

1.30

%

 

 

0.91

%

Allowance for credit losses to gross loans and leases

 

 

1.12

 

 

 

1.20

 

Allowance for credit losses to non-accrual loans and leases

 

 

85.95

 

 

 

131.38

 

 

The following table presents the amortized cost basis of the non-accrual, collateral-dependent commercial and industrial loans as of:

 

 

 

December 31,
2025

 

 

December 31,
2024

 

 

 

(In Thousands)

 

Equipment

 

$

14,615

 

 

$

12,178

 

Real Estate

 

 

21,595

 

 

 

7,724

 

Accounts Receivable

 

 

7,277

 

 

 

6,570

 

Other

 

 

473

 

 

 

2,053

 

Total

 

$

43,960

 

 

$

28,525

 

 

Occasionally, the Corporation modifies loans to borrowers in financial distress by providing principal forgiveness, term extension, an other-than-insignificant payment delay or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit losses.

The following table presents the amortized cost basis of loans at December 31, 2025 that were both experiencing financial difficulty and modified during the years ended December 31, 2025 and 2024, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized costs basis of each class of financing receivable is also presented below.

 

 

 

For the Year Ended December 31, 2025

 

 

Principal
Forgiveness

 

Payment
Delay

 

Term
Extension

 

Interest Rate
Reduction

 

Combination Term Extension and Payment Delay

 

Total

 

Total Class
of Financing
Receivable

 

 

(In Thousands)

 

 

Commercial real estate

 

$—

 

$—

 

$—

 

$—

 

$—

 

$—

 

0.00%

Commercial and industrial

 

—

 

—

 

—

 

294

 

5,882

 

6,176

 

0.48

Total

 

$—

 

$—

 

$—

 

$294

 

$5,882

 

$6,176

 

0.18%

 

 

 

For the Year Ended December 31, 2024

 

 

Principal
Forgiveness

 

Payment
Delay

 

Term
Extension

 

Interest Rate
Reduction

 

Combination Term Extension and Payment Delay

 

Total

 

Total Class
of Financing
Receivable

 

 

(In Thousands)

 

 

Commercial real estate

 

$—

 

$5,901

 

$—

 

$—

 

$—

 

$5,901

 

0.31%

Commercial and industrial

 

—

 

7,108

 

455

 

—

 

550

 

8,113

 

0.70

Total

 

$—

 

$13,009

 

$455

 

$—

 

$550

 

$14,014

 

0.45%

 

The Corporation closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the performance of such loans that have been modified in the last 12 months:

 

 

 

For the Year Ended December 31, 2025

 

 

 

30-59
Days Past
Due

 

 

60-89
Days Past
Due

 

 

Greater
Than 90
Days Past
Due

 

 

Total Past
Due

 

 

 

(Dollars in Thousands)

 

Commercial real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial and industrial

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

For the Year Ended December 31, 2024

 

 

 

30-59
Days Past
Due

 

 

60-89
Days Past
Due

 

 

Greater
Than 90
Days Past
Due

 

 

Total Past
Due

 

 

 

(Dollars in Thousands)

 

Commercial real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial and industrial

 

 

—

 

 

 

—

 

 

 

410

 

 

 

410

 

Total

 

$

—

 

 

$

—

 

 

$

410

 

 

$

410

 

 

The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the years ended December 31, 2025 and 2024:

 

 

 

For the Year Ended December 31, 2025

 

(Dollars in Thousands)

 

Principal
Forgiveness

 

 

Weighted
Average
Interest Rate
Reduction

 

 

Weighted
Average Term
Extension
(years)

 

 

Weighted
Average
Payment Delay
(years)

 

Commercial real estate

 

$

—

 

 

 

0.00

%

 

 

0.00

 

 

 

0.00

 

Commercial and industrial

 

 

—

 

 

 

2.25

 

 

 

0.50

 

 

 

0.50

 

Total

 

$

—

 

 

 

2.25

%

 

 

0.50

 

 

 

0.50

 

 

 

 

For the Year Ended December 31, 2024

 

(Dollars in Thousands)

 

Principal
Forgiveness

 

 

Weighted
Average
Interest Rate
Reduction

 

 

Weighted
Average Term
Extension
(years)

 

 

Weighted
Average
Payment Delay
(years)

 

Commercial real estate

 

$

—

 

 

 

0.00

%

 

 

0.00

 

 

 

1.17

 

Commercial and industrial

 

 

—

 

 

 

0.00

 

 

 

0.78

 

 

 

0.73

 

Total

 

$

—

 

 

 

0.00

%

 

 

0.78

 

 

 

1.90

 

 

The following table presents the amortized cost basis of loans that had a payment default during the years ended December 31, 2025 and 2024 and were modified in the 12 months prior to that default to borrowers experience financial difficulty:

 

 

 

For the Year Ended December 31, 2025

 

 

 

Principal
Forgiveness

 

 

Payment Delay

 

 

Term Extension

 

 

Interest Rate
Reduction

 

 

 

(In Thousands)

 

Commercial real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial and industrial

 

 

—

 

 

 

—

 

 

 

397

 

 

 

—

 

Total

 

$

—

 

 

$

—

 

 

$

397

 

 

$

—

 

 

 

 

For the Year Ended December 31, 2024

 

 

 

Principal
Forgiveness

 

 

Payment Delay

 

 

Term Extension

 

 

Interest Rate
Reduction

 

 

 

(In Thousands)

 

Commercial real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial and industrial

 

 

—

 

 

 

753

 

 

 

—

 

 

 

—

 

Total

 

$

—

 

 

$

753

 

 

$

—

 

 

$

—

 

 

Allowance for Credit Losses

The ACL is an estimate of the expected credit losses on financial assets measured at amortized cost, which is measured using relevant information about past events, including historical credit loss experience on financial assets with similar risk characteristics, current conditions, and reasonable and supportable forecasts that affect the collectability of the remaining cash flows over the contractual term of the financial assets.

Quantitative Considerations

The ACL is primarily calculated utilizing a Discounted Cash Flow (“DCF”) model. Key inputs and assumptions used in this model are discussed below:

•
Forecast model - For each portfolio segment, a Loss Driver Analysis (“LDA”) was performed in order to identify appropriate loss drivers and create a regression model for use in forecasting cash flows. The LDA analysis utilized peer FFIEC Call Report data for all DCF pools. The Corporation updates the LDA annually.
•
Probability of Default ("PD") – PD is the probability that an asset will be in default within a given time frame. The Corporation has defined default as when a charge-off has occurred, a loan goes to non-accrual status, or a loan is greater than 90 days past due. The forecast model is utilized to estimate PDs.
•
Loss Given Default ("LGD") – LGD is the percentage of the asset not expected to be collected due to default. The LGD is derived from using a method referred to as Frye Jacobs which uses industry data.
•
Prepayments and curtailments – Prepayments and curtailments are calculated based on the Corporation’s own data. This analysis is updated semi-annually.
•
Forecast and reversion – The Corporation has established a one-year reasonable and supportable forecast period with a one-year straight line reversion to the long-term historical average.
•
Economic forecast – The Corporation utilizes a third party to provide economic forecasts under various scenarios, which are assessed against economic indicators and management’s observations in the market. As of December 31, 2025, the Corporation selected a forecast which estimates unemployment between 4.48% and 4.78% and GDP growth change between 1.75% and 2.42% over the next four quarters. As of December 31, 2024, the Corporation selected a forecast which estimates unemployment between 4.12% and 4.20% and GDP growth change between 1.85% and 2.65% over the next four quarters. Following the forecast period, the model reverts to long-term averages over four quarters. Management believes that the resulting quantitative reserve appropriately balances economic indicators with identified risks.

Qualitative Considerations

In addition to the quantitative model, management considers the need for qualitative adjustment for risks not considered in the DCF. Factors that are considered by management in determining loan collectability and the appropriate level of the ACL are listed below:

•
The Corporation’s lending policies and procedures, including changes in lending strategies, underwriting standards and practices for collections, write-offs, and recoveries;
•
Actual and expected changes in international, national, regional, and local economic and business conditions and developments in which the Corporation operates that affect the collectability of financial assets;
•
The experience, ability, and depth of the Corporation’s lending, investment, collection, and other relevant management and staff;
•
The volume of past due financial assets, the volume of non-accrual loans and leases, and the volume and severity of adversely classified or graded assets;
•
The existence and effect of industry concentrations of credit;
•
The nature and volume of the portfolio segment or class;
•
The quality of the Corporation’s credit function; and
•
The effect of other external factors such as the regulatory, legal and technological environments, competition, and events such as natural disasters or pandemics.

ACL Activity

A summary of the activity in the allowance for credit losses by portfolio segment is as follows:

 

 

 

As of and for the Year Ended December 31, 2025

 

 

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and Land Development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

 

 

(In Thousands)

 

Beginning balance

 

$

1,629

 

 

$

5,892

 

 

$

2,826

 

 

$

4,613

 

 

$

523

 

 

$

21,470

 

 

$

315

 

 

$

37,268

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(9,651

)

 

 

(14

)

 

 

(9,665

)

Recoveries

 

 

2

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

25

 

 

 

1,407

 

 

 

—

 

 

 

1,434

 

Net recoveries (charge-offs)

 

 

2

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

25

 

 

 

(8,244

)

 

 

(14

)

 

 

(8,231

)

Provision for credit losses

 

 

277

 

 

 

489

 

 

 

(74

)

 

 

313

 

 

 

9

 

 

 

7,528

 

 

 

113

 

 

 

8,655

 

Ending balance

 

$

1,908

 

 

$

6,381

 

 

$

2,752

 

 

$

4,926

 

 

$

557

 

 

$

20,754

 

 

$

414

 

 

$

37,692

 

Components:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses on
   loans

 

$

1,902

 

 

$

6,306

 

 

$

1,871

 

 

$

4,915

 

 

$

521

 

 

$

19,989

 

 

$

373

 

 

$

35,877

 

Allowance for credit losses on
   unfunded credit commitments

 

 

6

 

 

 

75

 

 

 

881

 

 

 

11

 

 

 

36

 

 

 

765

 

 

 

41

 

 

 

1,815

 

Total ACL

 

$

1,908

 

 

$

6,381

 

 

$

2,752

 

 

$

4,926

 

 

$

557

 

 

$

20,754

 

 

$

414

 

 

$

37,692

 

 

 

 

As of and for the Year Ended December 31, 2024

 

 

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and Land Development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

 

 

(In Thousands)

 

Beginning balance

 

$

1,540

 

 

$

5,636

 

 

$

2,125

 

 

$

3,571

 

 

$

266

 

 

$

19,408

 

 

$

451

 

 

$

32,997

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(5,233

)

 

 

(22

)

 

 

(5,255

)

Recoveries

 

 

5

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

132

 

 

 

541

 

 

 

21

 

 

 

699

 

Net recoveries (charge-offs)

 

 

5

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

132

 

 

 

(4,692

)

 

 

(1

)

 

 

(4,556

)

Provision for credit losses

 

 

84

 

 

 

256

 

 

 

701

 

 

 

1,042

 

 

 

125

 

 

 

6,754

 

 

 

(135

)

 

 

8,827

 

Ending balance

 

$

1,629

 

 

$

5,892

 

 

$

2,826

 

 

$

4,613

 

 

$

523

 

 

$

21,470

 

 

$

315

 

 

$

37,268

 

Components:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses on
   loans

 

$

1,615

 

 

$

5,843

 

 

$

2,022

 

 

$

4,597

 

 

$

492

 

 

$

20,934

 

 

$

282

 

 

$

35,785

 

Allowance for credit losses on
   unfunded credit commitments

 

 

14

 

 

 

49

 

 

 

804

 

 

 

16

 

 

 

31

 

 

 

536

 

 

 

33

 

 

 

1,483

 

Total ACL

 

$

1,629

 

 

$

5,892

 

 

$

2,826

 

 

$

4,613

 

 

$

523

 

 

$

21,470

 

 

$

315

 

 

$

37,268

 

 

 

 

 

As of and for the Year Ended December 31, 2023

 

 

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and Land Development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

 

 

(In Thousands)

 

Beginning balance

 

$

1,766

 

 

$

5,108

 

 

$

1,646

 

 

$

2,634

 

 

$

207

 

 

$

12,403

 

 

$

466

 

 

$

24,230

 

Impact of adopting ASC 326

 

 

(204

)

 

 

(242

)

 

 

796

 

 

 

(386

)

 

 

(45

)

 

 

1,873

 

 

 

26

 

 

 

1,818

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1,781

)

 

 

—

 

 

 

(1,781

)

Recoveries

 

 

9

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

40

 

 

 

478

 

 

 

20

 

 

 

548

 

Net recoveries (charge-offs)

 

 

9

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

40

 

 

 

(1,303

)

 

 

20

 

 

 

(1,233

)

Provision for credit losses

 

 

(31

)

 

 

769

 

 

 

(317

)

 

 

1,323

 

 

 

64

 

 

 

6,435

 

 

 

(61

)

 

 

8,182

 

Ending balance

 

$

1,540

 

 

$

5,636

 

 

$

2,125

 

 

$

3,571

 

 

$

266

 

 

$

19,408

 

 

$

451

 

 

$

32,997

 

Components:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses on
   loans

 

$

1,525

 

 

$

5,596

 

 

$

1,244

 

 

$

3,562

 

 

$

243

 

 

$

18,710

 

 

$

395

 

 

$

31,275

 

Allowance for credit losses on
   unfunded credit commitments

 

 

15

 

 

 

40

 

 

 

881

 

 

 

9

 

 

 

23

 

 

 

698

 

 

 

56

 

 

 

1,722

 

Total ACL

 

$

1,540

 

 

$

5,636

 

 

$

2,125

 

 

$

3,571

 

 

$

266

 

 

$

19,408

 

 

$

451

 

 

$

32,997

 

ACL Summary

Loans collectively evaluated for credit losses in the following tables include all performing loans at December 31, 2025 and December 31, 2024. Loans individually evaluated for credit losses include all non-accrual loans.

The following tables provide information regarding the allowance for credit losses and balances by type of allowance methodology.

 

 

 

As of December 31, 2025

 

 

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and land development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

 

 

(In Thousands)

 

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated for
   credit losses

 

$

1,902

 

 

$

6,306

 

 

$

1,871

 

 

$

4,915

 

 

$

521

 

 

$

14,439

 

 

$

373

 

 

$

30,327

 

Individually evaluated for
   credit loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,550

 

 

 

—

 

 

 

5,550

 

Total

 

$

1,902

 

 

$

6,306

 

 

$

1,871

 

 

$

4,915

 

 

$

521

 

 

$

19,989

 

 

$

373

 

 

$

35,877

 

Loans and lease receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated for
   credit losses

 

$

293,706

 

 

$

885,870

 

 

$

233,979

 

 

$

567,176

 

 

$

60,661

 

 

$

1,249,015

 

 

$

40,965

 

 

$

3,331,372

 

Individually evaluated for
   credit loss

 

 

—

 

 

 

—

 

 

 

14,581

 

 

 

4,292

 

 

 

—

 

 

 

24,982

 

 

 

—

 

 

 

43,855

 

Total

 

$

293,706

 

 

$

885,870

 

 

$

248,560

 

 

$

571,468

 

 

$

60,661

 

 

$

1,273,997

 

 

$

40,965

 

 

$

3,375,227

 

 

 

 

As of December 31, 2024

 

 

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and land development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

 

 

(In Thousands)

 

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated for
   credit losses

 

$

1,615

 

 

$

5,843

 

 

$

2,022

 

 

$

4,597

 

 

$

492

 

 

$

12,016

 

 

$

282

 

 

$

26,867

 

Individually evaluated for
   credit loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8,918

 

 

 

—

 

 

 

8,918

 

Total

 

$

1,615

 

 

$

5,843

 

 

$

2,022

 

 

$

4,597

 

 

$

492

 

 

$

20,934

 

 

$

282

 

 

$

35,785

 

Loans and lease receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated for
   credit losses

 

$

272,806

 

 

$

845,298

 

 

$

221,086

 

 

$

530,853

 

 

$

46,496

 

 

$

1,123,944

 

 

$

45,000

 

 

$

3,085,483

 

Individually evaluated for
   credit loss

 

 

591

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

27,776

 

 

 

—

 

 

 

28,367

 

Total

 

$

273,397

 

 

$

845,298

 

 

$

221,086

 

 

$

530,853

 

 

$

46,496

 

 

$

1,151,720

 

 

$

45,000

 

 

$

3,113,850

 
v3.25.4
Premises and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Premises and Equipment

Note 5 — Premises and Equipment

A summary of premises and equipment was as follows:

 

 

As of December 31,

 

 

2025

 

 

2024

 

 

(In Thousands)

 

Leasehold improvements

 

$

5,572

 

 

$

5,572

 

Furniture and equipment

 

 

10,068

 

 

 

9,480

 

Total premises and equipment

 

 

15,640

 

 

 

15,052

 

Less: accumulated depreciation

 

 

(10,971

)

 

 

(9,825

)

Total premises and equipment, net

 

$

4,669

 

 

$

5,227

 

 

Depreciation expense was $1.2 million, $1.1 million, and $961,000 for the years ended December 31, 2025, 2024, and 2023, respectively.
v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases

Note 6 — Leases

The Corporation leases various office spaces and specialized lending production offices under non-cancellable operating leases which expire on various dates through 2033. The Corporation also leases office equipment. The Corporation recognizes a right-of-use asset and an operating lease liability for all leases, with the exception of short-term leases. Right-of-use assets represent the right to use an underlying asset for the lease term and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. Lease expense for operating leases and short-term leases is recognized on a straight-line basis over the lease term.

In May 2025, the Corporation renewed its Northeast region office lease, resulting in a right-of-use asset of $522,000 and a lease liability of $590,000. The Corporation received a $68,000 tenant improvement allowance related to this lease, which was recognized as a lease incentive and deducted from the right-of-use asset.

The components of total lease expense were as follows:

 

 

 

For the Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(In Thousands)

 

Operating lease cost

 

$

1,342

 

 

$

1,366

 

 

$

1,411

 

Short-term lease cost

 

 

171

 

 

 

140

 

 

 

200

 

Variable lease cost

 

 

545

 

 

 

572

 

 

 

576

 

Less: sublease income

 

 

—

 

 

 

—

 

 

 

(75

)

Total lease cost, net

 

$

2,058

 

 

$

2,078

 

 

$

2,112

 

 

Quantitative information regarding the Corporation’s operating leases was as follows:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2023

 

Weighted-average remaining lease term (in years)

 

 

6.00

 

 

 

6.93

 

 

 

7.70

 

Weighted-average discount rate

 

 

4.04

%

 

 

3.37

%

 

 

3.61

%

 

 

The following maturity analysis shows the undiscounted cash flows due on the Corporation’s operating lease liabilities:

 

(In Thousands)

 

 

 

2026

 

$

1,623

 

2027

 

 

1,647

 

2028

 

 

1,285

 

2029

 

 

933

 

2030

 

 

841

 

Thereafter

 

 

2,001

 

Total undiscounted cash flows

 

 

8,330

 

Discount on cash flows

 

 

(969

)

Total lease liability

 

$

7,361

 
v3.25.4
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

Note 7 — Goodwill and Other Intangible Assets

Goodwill

Goodwill is not amortized, but is subject to impairment tests on an annual basis and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount (including goodwill). At December 31, 2025 and 2024, the Corporation had goodwill of $10.7 million, which was related to the acquisition of Alterra Bank in 2014.

The Corporation conducted its annual impairment test on July 1, 2025, utilizing a qualitative assessment, and concluded that it was more likely than not the estimated fair value of the reporting unit exceeded its carrying value, resulting in no impairment.

Other Intangible Assets

The Corporation has intangible assets that are amortized consisting of loan servicing rights.

Loan servicing rights are recognized upon sale of the guaranteed portions of SBA loans with servicing rights retained. When SBA loans are sold, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Loan servicing assets are subsequently measured using the amortization method, which requires servicing rights to be amortized into interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. The amortization of loan servicing rights is included in interest income in the accompanying Consolidated Statements of Income.

Activity in the Corporation's servicing asset and related valuation allowance is as follows:

 

 

For the Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(In Thousands)

 

Loan Servicing Rights:

 

 

 

 

 

 

 

 

 

Carrying amount, net, beginning of year

 

$

1,245

 

 

$

1,356

 

 

$

1,492

 

Additions

 

 

400

 

 

 

390

 

 

 

437

 

Amortization

 

 

(297

)

 

 

(537

)

 

 

(500

)

Change in valuation allowance

 

 

(31

)

 

 

36

 

 

 

(73

)

Carrying amount, net, end of year

 

$

1,317

 

 

$

1,245

 

 

$

1,356

 

 

 

 

 

 

 

 

 

 

 

Valuation Allowance:

 

 

 

 

 

 

 

 

 

Beginning of year

 

$

52

 

 

$

88

 

 

$

15

 

Change in valuation allowance

 

 

31

 

 

 

(36

)

 

 

73

 

End of year

 

$

83

 

 

$

52

 

 

$

88

 

The estimated fair value of the Corporation’s loan servicing asset was $1.3 million and $1.2 million as of December 31, 2025 and 2024, respectively. The Corporation periodically reviews this portfolio for impairment and engages a third-party valuation firm to assess the fair value of the overall servicing rights portfolio. The fair value at December 31, 2025 was established using a discount rate

of 13.00% and a constant prepayment rate ("CPR") of 16.64%. The fair value at December 31, 2024 was established using a discount rate of 13.75% and a CPR of 16.05%.
v3.25.4
Other Assets
 12 Months Ended
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other Assets

Note 8 — Other Assets

Investments in Limited Partnerships

The Corporation has invested in a number of limited partnerships that provide income tax, financial, and regulatory benefits due to the nature of the partnerships. These investments included: seven Small Business Investment Companies ("SBIC") and four other limited partnership investments, whose purpose is to provide funding to small companies which meet certain criteria based on each particular fund's focus, five Historic Rehabilitation Tax Credit ("HTC") funds, whose purpose is to develop and operate real estate projects related to historical properties and communities, and 12 Low-Income Housing Tax Credits ("LIHTC") projects, whose purpose is to invest in approved low-income housing investment tax credit projects.

Our investments represent unconsolidated variable interest entities ("VIE") because we are not considered the primary beneficiary. We have determined that we are not the primary beneficiary of these VIEs because we do not have the power to direct the activities that most significantly impact their economic performance.

All of our limited partnership investments are privately held and their market values are not readily available. These investments are accounted for using the equity method of accounting for SBIC, other limited partnerships, and HTC funds and the proportional amortization method for LIHTC investments and are included in Other Assets in the Consolidated Balance Sheets. Income or loss from the SBIC and other limited partnerships are included in Other Non-interest Income in the Consolidated Statements of Income and totaled $1.2 million, $1.9 million, and $5.1 million for the years ended December 31, 2025, 2024, and 2023, respectively. Income or loss from the HTC and LIHTC investments is included in income tax expense. See Note 16 — Income Taxes for further information.

Our investment in and unfunded commitments to these partnerships are as follows:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

Investment:

 

(In Thousands)

 

Low-Income Housing Tax Credit

 

$

48,472

 

 

$

40,259

 

Small Business Investment Company

 

 

14,797

 

 

 

12,949

 

Other Limited Partnerships

 

 

3,128

 

 

 

1,731

 

Historic Rehabilitation Tax Credit

 

 

1,970

 

 

 

4,133

 

Total limited partnership investments

 

$

68,367

 

 

$

59,072

 

Unfunded commitment:

 

 

 

 

 

 

Small Business Investment Company

 

$

10,973

 

 

$

8,857

 

Other Limited Partnerships

 

 

1,542

 

 

 

1,233

 

Total limited partnership commitments

 

$

12,515

 

 

$

10,090

 

A summary of accrued interest receivable and other assets was as follows:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

(In Thousands)

 

Accrued interest receivable

 

$

13,100

 

 

$

12,879

 

Net deferred tax asset

 

 

13,176

 

 

 

12,599

 

Investment in limited partnerships

 

 

68,367

 

 

 

59,072

 

Prepaid expenses

 

 

4,791

 

 

 

4,221

 

Other assets

 

 

8,038

 

 

 

10,288

 

Total accrued interest receivable and other assets

 

$

107,472

 

 

$

99,059

 

 
v3.25.4
Deposits
 12 Months Ended
Dec. 31, 2025
Deposits [Abstract]  
Deposits

Note 9 — Deposits

The composition of deposits is shown below. Average balances represent year-to-date averages.

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

Balance

 

 

Average
Balance

 

 

Balance

 

 

Average
Balance

 

 

 

(Dollars in Thousands)

 

Non-interest-bearing transaction accounts

 

$

378,770

 

 

$

419,691

 

 

$

436,111

 

 

$

441,313

 

Interest-bearing transaction accounts

 

 

1,103,696

 

 

 

1,018,736

 

 

 

965,637

 

 

 

884,321

 

Money market accounts

 

 

905,773

 

 

 

856,554

 

 

 

809,695

 

 

 

815,603

 

Certificates of deposit

 

 

284,764

 

 

 

236,848

 

 

 

184,986

 

 

 

237,228

 

Wholesale deposits

 

 

707,412

 

 

 

737,253

 

 

 

710,711

 

 

 

515,196

 

Total deposits

 

$

3,380,415

 

 

$

3,269,082

 

 

$

3,107,140

 

 

$

2,893,661

 

 

A summary of annual maturities of core and wholesale certificates of deposit at December 31, 2025 is as follows:

 

(In Thousands)

 

 

 

Maturities during the year ended December 31,

 

 

 

2026

 

$

635,641

 

2027

 

 

127,620

 

2028

 

 

31,279

 

2029

 

 

18,462

 

2030

 

 

7,635

 

Thereafter

 

 

1,270

 

 

 

$

821,907

 

 

Wholesale deposits include $537.1 million and $170.3 million of wholesale certificates of deposit and non-reciprocal interest-bearing transaction accounts, respectively, at December 31, 2025, compared to $515.6 million and $195.1 million of wholesale certificates of deposit and non-reciprocal interest-bearing transaction accounts, respectively, at December 31, 2024. The Corporation has entered into derivative contracts hedging a portion of the certificates of deposit included in the 2026 maturities above. As of December 31, 2025, the notional amount of derivatives designated as cash flow hedges totaled $449.1 million with a weighted average remaining maturity of 3.29 years and a weighted average rate of 3.67%. As of December 31, 2024, the notional amount of derivatives designated as cash flow hedgers totaled $416.3 million with a weighted average remaining maturity of 3.65 years and a weighted average rate of 3.81%.

Certificates of deposit and wholesale deposits denominated in amounts greater than $250,000 were $113.0 million at December 31, 2025 and $67.3 million at December 31, 2024.
v3.25.4
FHLB Advances, Other Borrowings and Subordinated Notes and Debentures
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
FHLB Advances, Other Borrowings and Subordinated Notes and Debentures Note 10 — FHLB Advances, Other Borrowings and Subordinated Notes and Debentures

The composition of borrowed funds is shown below. Average balances represent year-to-date averages.

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

Balance

 

 

Weighted
Average
Balance

 

 

Weighted
Average
Rate

 

 

Balance

 

 

Weighted
Average
Balance

 

 

Weighted
Average
Rate

 

 

 

(Dollars in Thousands)

 

FHLB advances

 

$

197,246

 

 

$

246,486

 

 

 

3.20

%

 

$

265,350

 

 

$

282,437

 

 

 

2.73

%

Line of credit

 

 

—

 

 

 

1

 

 

 

4.25

 

 

 

—

 

 

 

1,229

 

 

 

8.03

 

Other borrowings

 

 

—

 

 

 

4

 

 

 

—

 

 

 

10

 

 

 

10

 

 

 

—

 

Subordinated notes and debentures

 

 

54,805

 

 

 

54,742

 

 

 

6.43

 

 

 

54,689

 

 

 

49,833

 

 

 

6.36

 

 

 

$

252,051

 

 

$

301,233

 

 

 

3.79

 

 

$

320,049

 

 

$

333,509

 

 

 

3.30

 

 

 

A summary of annual maturities of borrowings at December 31, 2025 is as follows:

 

(In Thousands)

 

 

 

Maturities during the year ended December 31,

 

 

 

2026

 

$

125,234

 

2027

 

 

10,000

 

2028

 

 

10,450

 

2029

 

 

23,929

 

2030

 

 

20,000

 

Thereafter

 

 

62,438

 

 

 

$

252,051

 

 

As of December 31, 2025 the Corporation had a $791.1 million FHLB line of credit available for advances which is collateralized as noted below, of which $529.5 million remained unused. There were $197.2 million of term FHLB advances outstanding at December 31, 2025 with stated fixed interest rates ranging from 2.09% to 4.95% compared to $265.4 million of term FHLB advances outstanding at December 31, 2024 with stated fixed interest rates ranging from 1.19% to 4.95%. The term FHLB advances outstanding at December 31, 2025 are due at various dates through December 2031.

The Corporation is required to maintain as collateral mortgage-related securities, unencumbered first mortgage loans and secured small business loans in its portfolio aggregating at least the amount of outstanding advances from the FHLB. Loans totaling approximately $1.443 billion and $1.298 billion were pledged as collateral at December 31, 2025 and 2024, respectively.

The Corporation has a senior line of credit with a third-party financial institution of $10.5 million. As of December 31, 2025, the line of credit carried an interest rate of SOFR + 2.36% that matured on February 19, 2026 and had certain performance debt covenants of which the Corporation was in compliance. The Corporation pays a commitment fee on this senior line of credit. For the years ended December 31, 2025, 2024, and 2023 the Corporation incurred $13,000 additional interest expense due to this fee. There was no outstanding balance on the line of credit as of December 31, 2025. On February 18, 2026, the credit line was renewed for one additional year with pricing terms of 1-month term SOFR + 2.36% and a maturity date of February 17, 2027.

The Corporation issued subordinated notes payable on September 13, 2024. The aggregate principal amount of the newly issued subordinated notes payable was $20.0 million which qualified as Tier 2 capital. The subordinated notes payable bear a fixed interest rate of 7.5% with a maturity date of September 13, 2034. The Corporation may, at its option, redeem the notes payable, in whole or part, at anytime after the fifth anniversary of the issuance. As of August 15, 2024, the $15.0 million subordinated notes payable that bore a fixed interest rate of 5.5% were redeemed, and the remaining unamortized debt issuance cost was accelerated due to the early redemption. As of December 31, 2025, $195,000 of debt issuance costs remain in the subordinated note and debentures payable balance, of which $44,000 is related to the recently issued subordinated debentures.

The Corporation has entered into derivative contracts hedging a portion of the borrowings included in the 2026 maturities above. As of December 31, 2025, the notional amount of derivatives designated as cash flow hedges totaled $48.4 million with a weighted average remaining maturity of 2.12 years and a weighted average rate of 2.52%.
v3.25.4
Preferred Stock
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Preferred Stock

Note 11 — Preferred Stock

On March 4, 2022, the Corporation issued 12,500 shares, or $12.5 million in aggregate liquidation preference, of 7.0% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, par value $0.01 per share, with a liquidation preference of $1,000 per share (the “Series A Preferred Stock”) in a private placement to institutional investors. The net proceeds received from the issuance of the Series A Preferred Stock were $12.0 million.

The Corporation expects to pay dividends on the Series A Preferred Stock when and if declared by the Board, at a fixed rate of 7.0% per annum, payable quarterly, in arrears, on March 15, June 15, September 15 and December 15 of each year up to, but excluding, March 15, 2027. For each dividend period from and including March 15, 2027, dividends will be paid at a floating rate of Three-Month Term SOFR plus a spread of 539 basis points per annum. During the years ended December 31, 2025 and 2024, the Board of Directors declared an aggregate preferred stock dividend of $875,000. The Series A Preferred Stock is perpetual and has no stated maturity. The Corporation may redeem the Series A Preferred Stock at its option at a redemption price equal to $1,000 per share, plus any declared and unpaid dividends (without regard to any undeclared dividends), subject to regulatory approval, on or after March 15, 2027 or within 90 days following a regulatory capital treatment event, in accordance with the terms of the Series A Preferred Stock.
v3.25.4
Regulatory Capital
 12 Months Ended
Dec. 31, 2025
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]  
Regulatory Capital

Note 12 — Regulatory Capital

The Corporation and the Bank are subject to various regulatory capital requirements administered by Federal and Wisconsin banking agencies. Failure to meet minimum capital requirements can result in certain mandatory, and possibly additional discretionary actions on the part of regulators, that if undertaken, could have a direct material effect on the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory practices. The Corporation’s and the Bank’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Corporation regularly reviews and updates, when appropriate, its capital and liquidity action plans, which is designed to help ensure appropriate capital adequacy, to plan for future capital needs, and to ensure that the Corporation serves as a source of financial strength to the Bank. The Corporation’s and the Bank’s Board and management teams adhere to the appropriate regulatory guidelines on decisions which affect their respective capital positions, including but not limited to, decisions relating to the payment of dividends and increasing indebtedness.

As a bank holding company, the Corporation’s ability to pay dividends is affected by the policies and enforcement powers of the Board of Governors of the Federal Reserve system (the “Federal Reserve”). Federal Reserve guidance urges financial institutions to strongly consider eliminating, deferring, or significantly reducing dividends if: (i) net income available to common shareholders for the past four quarters, net of dividends previously paid during that period, is not sufficient to fully fund the dividend; (ii) the prospective rate of earnings retention is not consistent with the bank holding company’s capital needs and overall current and prospective financial condition; or (iii) the bank holding company will not meet, or is in danger of not meeting, its minimum regulatory capital ratios. Management intends, when appropriate under regulatory guidelines, to consult with the Federal Reserve Bank (“FRB”) of Chicago and provide it with information on the Corporation’s then-current and prospective earnings and capital position in advance of declaring any cash dividends. As a Wisconsin corporation, the Corporation is subject to the limitations of the Wisconsin Business Corporation Law, which prohibits the Corporation from paying dividends if such payment would: (i) render the Corporation unable to pay its debts as they become due in the usual course of business, or (ii) result in the Corporation’s assets being less than the sum of its total liabilities plus the amount needed to satisfy the preferential rights upon dissolution of any shareholders with preferential rights superior to those shareholders receiving the dividend.

The Bank is also subject to certain legal, regulatory, and other restrictions on their ability to pay dividends to the Corporation. As a bank holding company, the payment of dividends by the Bank to the Corporation is one of the sources of funds the Corporation could use to pay dividends, if any, in the future and to make other payments. Future dividend decisions by the Bank and the Corporation will continue to be subject to compliance with various legal, regulatory, and other restrictions as defined from time to time.

Quantitative measures established by regulation to ensure capital adequacy require the Corporation and the Bank to maintain minimum amounts and ratios of Total Common Equity Tier 1 and Tier 1 capital to risk-weighted assets and of Tier 1 capital to adjusted total assets. These risk-based capital requirements presently address credit risk related to both recorded and off-balance sheet commitments and obligations.

In July 2013, the FRB and the FDIC approved the final rules implementing the Basel Committee on Banking Supervision’s capital guidelines for U.S. banks. These rules are applicable to all financial institutions that are subject to minimum capital requirements, including federal and state banks and savings and loan associations, as well as bank and savings and loan holding companies other than “small bank holding companies” (generally non-publicly traded bank holding companies with consolidated assets of less than $1 billion). Under the final rules, minimum requirements increased for both the quantity and quality of capital held by the Corporation. The rules include a new Common Equity Tier 1 capital to risk-weighted assets minimum ratio of 4.5%, raise the minimum ratio of

Tier 1 capital to risk-weighted assets from 4.0% to 6.0%, require a minimum ratio of Total Capital to risk-weighted assets of 8.0%, and require a minimum Tier 1 leverage ratio of 4.0%. The rules also permit banking organizations with less than $15 billion in assets to retain, through a one-time election, the past treatment for accumulated other comprehensive income, which did not affect regulatory capital. The Corporation elected to retain this treatment, which reduces the volatility of regulatory capital ratios. The Corporation also must comply with the 2.5% conservation buffer, which the Corporation met as of December 31, 2025.

As of December 31, 2025, the Corporation’s capital levels exceeded the regulatory minimums and the Bank’s capital levels remained characterized as well capitalized under the regulatory framework. The following tables summarize both the Corporation’s and the Bank’s capital ratios and the ratios required by their federal regulators:

 

 

 

As of December 31, 2025

 

 

 

Actual (1)

 

 

Minimum Required
for Capital
Adequacy Purposes

 

 

For Capital
Adequacy Purposes
Plus Capital
Conservation Buffer

 

 

Minimum Required
to Be Well
Capitalized Under
Prompt Corrective
Action
Requirements

 

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

 

(Dollars in Thousands)

 

Total capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

463,447

 

 

 

12.24

%

$

302,917

 

 

 

8.00

%

$

397,578

 

 

 

10.50

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

460,423

 

 

 

12.16

 

 

 

302,929

 

 

 

8.00

 

 

 

397,594

 

 

 

10.50

 

 

$

378,661

 

 

 

10.00

%

Tier 1 capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

370,786

 

 

 

9.79

%

 

$

227,188

 

 

 

6.00

%

 

$

321,849

 

 

 

8.50

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

422,567

 

 

 

11.16

 

 

 

227,197

 

 

 

6.00

 

 

 

321,862

 

 

 

8.50

 

 

$

302,929

 

 

 

8.00

%

Common equity tier 1 capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

358,794

 

 

 

9.48

%

 

$

170,391

 

 

 

4.50

%

 

$

265,052

 

 

 

7.00

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

422,567

 

 

 

11.16

 

 

 

170,398

 

 

 

4.50

 

 

 

265,063

 

 

 

7.00

 

 

$

246,130

 

 

 

6.50

%

Tier 1 leverage capital
   (to adjusted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

370,786

 

 

 

8.86

%

 

$

167,376

 

 

 

4.00

%

 

$

167,376

 

 

 

4.00

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

422,567

 

 

 

10.11

 

 

 

167,237

 

 

 

4.00

 

 

 

167,237

 

 

 

4.00

 

 

$

209,046

 

 

 

5.00

%

 

 

 

 

As of December 31, 2024

 

 

 

Actual (1)

 

 

Minimum Required
for Capital
Adequacy Purposes

 

 

For Capital
Adequacy Purposes
Plus Capital
Conservation Buffer

 

 

Minimum Required
to Be Well
Capitalized Under
Prompt Corrective
Action
Requirements

 

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

 

(Dollars in Thousands)

 

Total capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

421,639

 

 

 

12.08

%

 

$

279,330

 

 

 

8.00

%

 

$

366,621

 

 

 

10.50

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

417,965

 

 

 

11.97

 

 

 

279,342

 

 

 

8.00

 

 

 

366,626

 

 

 

10.50

 

 

$

349,177

 

 

 

10.00

%

Tier 1 capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

329,796

 

 

 

9.45

%

 

$

209,498

 

 

 

6.00

%

 

$

296,788

 

 

 

8.50

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

380,811

 

 

 

10.91

 

 

 

209,506

 

 

 

6.00

 

 

 

296,801

 

 

 

8.50

 

 

$

279,342

 

 

 

8.00

%

Common equity tier 1 capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

317,804

 

 

 

9.10

%

 

$

157,123

 

 

 

4.50

%

 

$

244,414

 

 

 

7.00

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

380,811

 

 

 

10.91

 

 

 

157,130

 

 

 

4.50

 

 

 

244,424

 

 

 

7.00

 

 

$

226,965

 

 

 

6.50

%

Tier 1 leverage capital
   (to adjusted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

329,796

 

 

 

8.78

%

 

$

150,256

 

 

 

4.00

%

 

$

150,256

 

 

 

4.00

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

380,811

 

 

 

10.14

 

 

 

150,207

 

 

 

4.00

 

 

 

150,207

 

 

 

4.00

 

 

$

187,759

 

 

 

5.00

%

 

(1)
2025 and 2024 capital amounts include $337,000 and $676,000, respectively, of additional stockholders’ equity as elected by the Corporation and permitted by federal banking regulatory agencies related to the adoption of ASC 326. Risk-weighted assets were also adjusted accordingly.

The following table reconciles stockholders’ equity to federal regulatory capital at December 31, 2025 and 2024, respectively:

 

 

As of December 31,

 

 

2025

 

 

2024

 

 

(In Thousands)

 

Stockholders’ equity of the Corporation

 

$

371,585

 

 

$

328,589

 

Net unrealized and accumulated losses on specific items

 

 

9,740

 

 

 

11,425

 

Disallowed servicing assets

 

 

(505

)

 

 

(514

)

Disallowed goodwill and other intangibles

 

 

(10,371

)

 

 

(10,380

)

ASC 326 Phase-in

 

 

337

 

 

 

676

 

Tier 1 capital

 

 

370,786

 

 

 

329,796

 

Allowable general valuation allowances and subordinated debt

 

 

92,661

 

 

 

91,843

 

Total capital

 

$

463,447

 

 

$

421,639

 
v3.25.4
Earnings Per Common Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Common Share

Note 13 — Earnings per Common Share

Earnings per common share are computed using the two-class method. Basic earnings per common share are computed by dividing net income allocated to common shares by the weighted-average number of shares outstanding during the applicable period, excluding outstanding participating securities. Participating securities include unvested restricted shares. Unvested restricted shares are considered participating securities because holders of these securities receive non-forfeitable dividends, or dividend equivalents, at the same rate as holders of the Corporation’s common stock. Diluted earnings per share are computed by dividing net income allocated to common shares adjusted for reallocation of undistributed earnings of unvested restricted shares by the weighted average number of

shares determined for the basic earnings per common share computation plus the dilutive effect of common stock equivalents using the treasury stock method.

 

 

 

For the Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(Dollars in Thousands, Except Share Data)

 

Basic earnings per common share

 

 

 

 

 

 

 

 

 

Net income

 

$

50,319

 

 

$

44,245

 

 

$

37,027

 

Less: preferred stock dividends

 

 

875

 

 

 

875

 

 

 

875

 

Less: earnings allocated to participating securities

 

 

953

 

 

 

1,033

 

 

 

938

 

Basic earnings allocated to common shareholders

 

$

48,491

 

 

$

42,337

 

 

$

35,214

 

Weighted-average common shares outstanding,
   excluding participating securities

 

 

8,158,208

 

 

 

8,148,259

 

 

 

8,131,251

 

Basic earnings per common share

 

$

5.94

 

 

$

5.20

 

 

$

4.33

 

Diluted earnings per common share

 

 

 

 

 

 

 

 

 

Earnings allocated to common shareholders, diluted

 

$

48,491

 

 

$

42,337

 

 

$

35,214

 

Weighted-average diluted common shares outstanding,
   excluding participating securities

 

 

8,158,208

 

 

 

8,148,259

 

 

 

8,131,251

 

Diluted earnings per common share

 

$

5.94

 

 

$

5.20

 

 

$

4.33

 
v3.25.4
Share-Based Compensation
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation

Note 14 — Share-Based Compensation

The Corporation initially adopted the 2019 Equity Incentive Plan (the “Plan”) during the quarter ended June 30, 2019. The Plan is administered by the Compensation Committee of the Board of Directors (the “Board”) of the Corporation and provides for the grant of equity ownership opportunities through incentive stock options and nonqualified stock options, restricted stock, restricted stock units, dividend equivalent units, and any other type of award permitted by the Plan. As of December 31, 2025, 186,821 shares were available for future grants under the Plan, as amended. Shares covered by awards that expire, terminate, or lapse will again be available for the grant of awards under the Plan.

Restricted Stock

Under the Plan, the Corporation may grant restricted stock awards (“RSA”), restricted stock units (“RSU”), and other stock-based awards to plan participants, subject to forfeiture upon the occurrence of certain events until the dates specified in the participant’s award agreement. While restricted stock is subject to forfeiture, RSA participants may exercise full voting rights and will receive all dividends and other distributions paid with respect to the restricted shares. RSUs do not have voting rights. RSUs granted prior to 2023 are provided dividend equivalents concurrent with dividends paid to shareholders while RSUs granted in 2023 and after will accrue dividend equivalents payable upon vesting. The restricted stock granted under the Plan is typically subject to a vesting period. Compensation expense for restricted stock is recognized over the requisite service period of generally three or four years for the entire award on a straight-line basis. Upon vesting of restricted stock, the benefit of tax deductions in excess of recognized compensation expense is reflected as an income tax benefit in the Consolidated Statements of Income.

The Corporation may also issue performance-based restricted stock units (“PRSU”). Vesting of the PRSU will be measured on the relative Total Shareholder Return (“TSR”) and relative Return on Average Equity (“ROAE”) for issuances prior to 2023 or Return on Average Tangible Common Equity (“ROATCE”) for issuances after 2022, and will cliff-vest after a three-year measurement period based on the Corporation’s TSR performance and ROAE or ROATCE performance compared to a broad peer group of over 100 banks. At the end of the performance period, the number of actual shares to be awarded varies between 0% and 200% of target amounts. The restricted stock awards and units issued to executive officers will vest ratably over a three-year period. Compensation expense is recognized for PRSU over the requisite service and performance period of generally three years for the entire expected award on a straight-line basis. The compensation expense for the awards expected to vest for the percentage of performance-based restricted stock units subject to the ROAE or ROATCE metric will be adjusted if there is a change in the expectation of ROAE or ROATCE. The compensation expense for the awards expected to vest for the percentage of PRSU subject to the TSR metric are never adjusted and are amortized utilizing the accounting fair value provided using a Monte Carlo pricing model.

Restricted stock activity for the year ended December 31, 2024 and the year ended December 31, 2025 was as follows:

 

 

 

RSA

 

 

Weighted
Average
Grant Price

 

 

PRSU

 

 

Weighted
Average
Grant Price

 

 

RSU

 

 

Weighted
Average
Grant Price

 

 

Total

 

 

Weighted
Average
Grant Price

 

Nonvested balance as of
   January 1, 2023

 

 

133,317

 

 

$

27.95

 

 

 

57,435

 

 

$

32.89

 

 

 

6,105

 

 

$

25.92

 

 

 

196,857

 

 

$

29.32

 

Granted (1)

 

 

—

 

 

 

—

 

 

 

34,840

 

 

 

35.79

 

 

 

54,955

 

 

 

34.43

 

 

 

89,795

 

 

 

34.96

 

Vested

 

 

(56,931

)

 

 

27.03

 

 

 

(36,120

)

 

 

31.31

 

 

 

(3,253

)

 

 

26.06

 

 

 

(96,304

)

 

 

28.60

 

Forfeited

 

 

(4,435

)

 

 

30.20

 

 

 

—

 

 

 

—

 

 

 

(820

)

 

 

36.42

 

 

 

(5,255

)

 

 

31.17

 

Nonvested balance as of
   December 31, 2023

 

 

71,951

 

 

$

28.53

 

 

 

56,155

 

 

$

35.70

 

 

 

56,987

 

 

$

33.97

 

 

 

185,093

 

 

$

32.38

 

Granted (1)

 

 

—

 

 

 

—

 

 

 

27,614

 

 

 

34.76

 

 

 

65,717

 

 

 

30.43

 

 

 

93,331

 

 

 

31.71

 

Vested

 

 

(35,131

)

 

 

26.86

 

 

 

(34,139

)

 

 

25.43

 

 

 

(33,716

)

 

 

21.25

 

 

 

(102,986

)

 

 

24.57

 

Forfeited

 

 

(7,924

)

 

 

29.75

 

 

 

—

 

 

 

—

 

 

 

(8,827

)

 

 

36.25

 

 

 

(16,751

)

 

 

33.18

 

Nonvested balance as of
   December 31, 2024

 

 

28,896

 

 

$

30.09

 

 

 

49,630

 

 

$

42.24

 

 

 

80,161

 

 

$

36.04

 

 

 

158,687

 

 

$

36.77

 

Granted (1)

 

 

—

 

 

 

—

 

 

 

12,195

 

 

 

63.61

 

 

 

45,789

 

 

 

51.39

 

 

 

57,984

 

 

 

53.92

 

Vested

 

 

(20,280

)

 

 

28.74

 

 

 

(15,825

)

 

 

42.70

 

 

 

(32,376

)

 

 

37.56

 

 

 

(68,481

)

 

 

37.21

 

Forfeited

 

 

(976

)

 

 

33.60

 

 

 

—

 

 

 

—

 

 

 

(2,468

)

 

 

41.48

 

 

 

(3,444

)

 

 

40.79

 

Nonvested balance as of
   December 31, 2025

 

 

7,640

 

 

$

33.76

 

 

 

46,000

 

 

$

47.31

 

 

 

91,106

 

 

$

43.03

 

 

 

144,746

 

 

$

43.87

 

Unrecognized compensation
   cost (in thousands)

 

$

47

 

 

 

 

 

$

944

 

 

 

 

 

$

2,822

 

 

 

 

 

$

3,813

 

 

 

 

Weighted average remaining
   recognition period (in years)

 

 

0.26

 

 

 

 

 

 

1.67

 

 

 

 

 

 

2.10

 

 

 

 

 

 

2.06

 

 

 

 

 

(1)
The number of restricted shares/units shown includes the shares that would be granted if the target level of performance is achieved related to the PRSU. The number of shares actually issued may vary. During the year ended December 31, 2025, an additional 13,427 were issued related to actual performance results of previously granted awards.

Employee Stock Purchase Plan

The Corporation is authorized to issue up to 250,000 shares of common stock under the employee stock purchase plan ("ESPP"). The plan qualifies as an employee stock purchase plan under section 423 of the Internal Revenue Code of 1986. Under the ESPP, eligible employees may enroll in a three month offer period that begins January, April, July, and October of each year. Employees may elect to purchase a limited number of shares of the Corporation's common stock at 90% of the fair market value on the last day of the offering period. The ESPP is treated as a compensatory item for purposes of share-based compensation expense.

The Corporation issued 3,115 and 3,832 shares of common stock under the ESPP during the years ended December 31, 2025 and 2024, respectively. As of December 31, 2025 and 2024, 223,691 and 226,806 shares, respectively, remained available for issuance under the ESPP.

Share-based compensation expense related to restricted stock and ESPP included in the Consolidated Statements of Income was as follows:

 

 

 

For the Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(In Thousands)

 

Share-based compensation expense

 

$

2,800

 

 

$

2,785

 

 

$

2,977

 
v3.25.4
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans

Note 15 — Employee Benefit Plans

The Corporation maintains a contributory 401(k) defined contribution plan covering substantially all employees. The Corporation matches 100% of amounts contributed by each participating employee, up to 3% of the employee’s compensation. The Corporation may also make discretionary profit sharing contributions up to an additional 6% of salary. Contributions are expensed in the period incurred and recorded in compensation expense in the Consolidated Statements of Income. The Corporation made a matching contribution of 3% to all eligible employees which totaled $1.3 million, $1.2 million, and $1.2 million for the years ended December 31, 2025, 2024, and 2023, respectively. Discretionary profit sharing contributions for substantially all employees of 4.34%, or $1.8 million, 4.34%, or $1.7 million, and 5.87%, or $2.1 million, were made in 2025, 2024, and 2023, respectively.

As of December 31, 2025, 2024, and 2023, the Corporation had a deferred compensation plan under which it provided contributions to supplement the retirement income of one executive. Under the terms of the plan, benefits to be received are generally payable over a 10 year period. The expense associated with the deferred compensation plan for the years ended December 31, 2025, 2024, and 2023 was $977,000, $523,000, and $493,000, respectively. The deferred compensation liability under the remaining plan of $4.3 million and $3.3 million at December 31, 2025 and 2024, respectively, is included in accrued interest payable and other liabilities on the Consolidated Balance Sheets.

The Corporation owned life insurance policies on the life of the executive covered by the deferred compensation plan, which had cash surrender values and death benefits of approximately $3.4 million and $6.3 million, respectively, at December 31, 2025 and cash surrender values and death benefits of approximately $3.2 million and $6.2 million, respectively, at December 31, 2024. The remaining balance of the cash surrender value of bank-owned life insurance of $80.6 million and $54.0 million as of December 31, 2025 and 2024, respectively, is related to policies on a number of then-qualified individuals affiliated with the Bank.
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

Note 16 — Income Taxes

Income tax expense consists of the following:

 

 

For the Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(In Thousands)

 

Income from continuing operations before income tax expense (benefit) (1)

 

$

60,453

 

 

$

51,150

 

 

$

47,139

 

 

 

 

 

 

 

 

 

 

 

Income tax expense from continuing operations

 

 

 

 

 

 

 

 

 

Current tax expense

 

 

 

 

 

 

 

 

 

Federal

 

$

10,263

 

 

$

8,783

 

 

$

7,759

 

State

 

 

1,428

 

 

 

1,635

 

 

 

233

 

Total current tax expense

 

 

11,691

 

 

 

10,418

 

 

 

7,992

 

Deferred tax expense (benefit)

 

 

 

 

 

 

 

 

 

Federal

 

 

(1,608

)

 

 

(1,263

)

 

 

(716

)

State

 

 

51

 

 

 

(2,250

)

 

 

2,836

 

Total deferred tax (benefit) expense

 

 

(1,557

)

 

 

(3,513

)

 

 

2,120

 

Total income tax expense

 

$

10,134

 

 

$

6,905

 

 

$

10,112

 
(1)
No foreign activity.

The provision for income taxes differs from that computed at the federal statutory corporate tax rate as follows:

 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(Dollars in Thousands)

 

Tax expense at statutory federal rate of 21%

 

$

12,695

 

 

 

21.0

%

 

$

10,741

 

 

 

21.0

%

 

$

9,899

 

 

21.0

%

State income tax, net of federal effect (1)

 

 

1,204

 

 

 

2.0

%

 

 

(447

)

 

 

-0.9

%

 

 

2,514

 

 

5.3

%

Tax credits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Low-income housing tax credits (2)

 

 

(1,760

)

 

 

-2.9

%

 

 

(1,451

)

 

 

-2.8

%

 

 

(1,151

)

 

-2.4

%

Other

 

 

(329

)

 

 

-0.5

%

 

 

(336

)

 

 

-0.7

%

 

 

—

 

 

0.0

%

Nontaxable or nondeductible items

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt security and loan income, net of TEFRA adjustment

 

 

(1,186

)

 

 

-2.0

%

 

 

(1,201

)

 

 

-2.3

%

 

 

(856

)

 

-1.8

%

Other

 

 

(453

)

 

 

-0.7

%

 

 

(491

)

 

 

-1.0

%

 

 

(124

)

 

-0.3

%

Other adjustments

 

 

(37

)

 

 

-0.1

%

 

 

90

 

 

 

0.2

%

 

 

(170

)

 

-0.3

%

Effective tax rate

 

$

10,134

 

 

 

16.8

%

 

$

6,905

 

 

 

13.5

%

 

$

10,112

 

 

21.5

%
(1)
State taxes in Wisconsin and Kansas make up the majority (greater than 50%) of the tax effect in this category.
(2)
Net of losses and amortization.

 

Deferred income tax assets and liabilities reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax basis. Deferred tax assets and liabilities are measured using enacted tax rates to apply to taxable income in the period in which the temporary differences are expected to be recovered or settled. Net deferred tax assets are included in accrued interest receivable and other assets in the Consolidated Balance Sheets.

The significant components of the Corporation’s deferred tax assets and liabilities were as follows:

 

 

December 31, 2025

 

 

December 31, 2024

 

 

(In Thousands)

 

Deferred tax assets:

 

 

 

 

 

 

Allowance for credit losses

 

$

9,872

 

 

$

9,820

 

Deferred compensation

 

 

3,053

 

 

 

2,511

 

State net operating loss carryforwards

 

 

356

 

 

 

687

 

Write-down of repossessed assets

 

 

25

 

 

 

31

 

Non-accrual loan interest

 

 

805

 

 

 

222

 

Lease liability

 

 

1,929

 

 

 

2,090

 

Unrealized losses on securities

 

 

3,156

 

 

 

4,136

 

Share-based compensation

 

 

911

 

 

 

761

 

Other

 

 

162

 

 

 

154

 

Total deferred tax assets before valuation allowance

 

 

20,269

 

 

 

20,412

 

Valuation allowance

 

 

(1,460

)

 

 

(1,568

)

Total deferred tax assets

 

 

18,809

 

 

 

18,844

 

Deferred tax liabilities:

 

 

 

 

 

 

Leasing and fixed asset activities

 

 

1,242

 

 

 

1,361

 

Loan servicing asset

 

 

345

 

 

 

328

 

Right-of-use asset

 

 

1,393

 

 

 

1,503

 

Investment in partnerships

 

 

1,557

 

 

 

2,037

 

Other

 

 

1,096

 

 

 

1,016

 

Total deferred tax liabilities

 

 

5,633

 

 

 

6,245

 

Net deferred tax asset

 

$

13,176

 

 

$

12,599

 

 

Realization of the deferred tax assets is dependent upon the Corporation generating sufficient taxable earnings prior to the expiration of net operating loss carryforwards. Management performs an analysis to determine if a valuation allowance against deferred tax assets is required in accordance with U.S. GAAP.

 

For Wisconsin state deferred tax assets, management determined that it was probable that some or all of the deferred tax assets would not be utilized within the applicable carry-forward period. The primary driver is the 2023 Wisconsin Act 19 which contains a provision that provides financial institutions with a state tax-exemption for interest, fees, and penalties earned on qualifying small-business loans. In 2024, management recorded a $1.7 million partial release of a state deferred tax asset valuation allowance due to changes in projected taxable income based on revised state taxation guidance and 2023 state tax return actual results. As of December 31, 2025, the Wisconsin deferred tax valuation allowance was $1.5 million, reducing our state deferred tax assets to $2.1 million. As of December 31, 2024, the Wisconsin deferred tax valuation allowance was $1.6 million, reducing our state deferred tax assets to $2.1 million. The Corporation had state net operating loss carryforwards of approximately $4.2 million and $5.7 million at December 31, 2025 and 2024, respectively, which begin to expire in 2032.

 

For federal and other U.S. states, management determined that it was not required to establish a valuation allowance against the December 31, 2025 or 2024 deferred tax assets in accordance with U.S. GAAP since it was more likely than not that the deferred tax assets will be fully utilized in future periods.

The Company paid the following income taxes (net of refunds) by jurisdiction:

 

 

For the Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(In Thousands)

 

US federal

 

$

2,295

 

 

$

1,491

 

 

$

5,335

 

US state and local

 

 

 

 

 

 

 

 

 

Wisconsin

 

*

 

 

 

(1,677

)

 

 

1,537

 

Minnesota

 

*

 

 

 

96

 

 

*

 

Missouri

 

*

 

 

 

50

 

 

*

 

Florida

 

*

 

 

 

50

 

 

*

 

Kansas

 

*

 

 

 

50

 

 

*

 

California

 

*

 

 

 

(45

)

 

*

 

Illinois

 

 

190

 

 

 

(32

)

 

*

 

New Jersey

 

*

 

 

 

30

 

 

*

 

Maryland

 

*

 

 

 

20

 

 

*

 

Oregon

 

*

 

 

 

20

 

 

*

 

Tennessee

 

*

 

 

 

20

 

 

*

 

Ohio

 

*

 

 

 

19

 

 

*

 

Iowa

 

*

 

 

 

(15

)

 

*

 

Michigan

 

*

 

 

 

15

 

 

*

 

Pennsylvania

 

*

 

 

 

15

 

 

*

 

Texas

 

*

 

 

 

13

 

 

*

 

Kentucky

 

*

 

 

 

12

 

 

*

 

North Carolina

 

*

 

 

 

10

 

 

*

 

Utah

 

*

 

 

 

10

 

 

*

 

Other

 

 

822

 

 

 

6

 

 

 

584

 

Total US state and local

 

 

1,012

 

 

 

(1,333

)

 

 

2,121

 

Total net income taxes paid

 

$

3,307

 

 

$

158

 

 

$

7,456

 

* The amount of income taxes paid during the year does not meet the 5% disaggregation threshold.

 

There were no uncertain tax positions outstanding as of December 31, 2025 and 2024. As of December 31, 2025, tax years remaining open for the State of Wisconsin tax were 2021 through 2024. Federal tax years that remained open were 2022 through 2024.
v3.25.4
Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments

Note 17 — Derivative Financial Instruments

The Corporation offers interest rate swap products directly to qualified commercial borrowers. The Corporation economically hedges client derivative transactions by entering into offsetting interest rate swap contracts executed with a third party. Derivative transactions executed as part of this program are not considered hedging instruments and are marked-to-market through earnings each period. The derivative contracts have mirror-image terms, which results in the positions’ changes in fair value offsetting through earnings each period. The credit risk and risk of non-performance embedded in the fair value calculations is different between the dealer counterparties and the commercial borrowers which may result in a difference in the changes in the fair value of the mirror-image swaps. The Corporation incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the counterparty’s risk in the fair value measurements. When evaluating the fair value of its derivative contracts for the effects of non-performance and credit risk, the Corporation considered the impact of netting and any applicable credit enhancements such as collateral postings, thresholds, and guarantees. As of December 31, 2025 and 2024, the credit valuation allowance was $116,000 and $149,000, respectively.

The Corporation receives fixed rates and pays floating rates based upon designated benchmark interest rates used on the swaps with commercial borrowers. Commercial borrower swaps are completed independently with each borrower and are not subject to master netting arrangements. The Corporation pays fixed rates and receives floating rates based upon designated benchmark interest rates used on the swaps with dealer counterparties. Dealer counterparty swaps are subject to master netting agreements among the contracts within our Bank and are reported on the Consolidated Balance Sheet. The gross amount of dealer counterparty swaps, without regard

to the enforceable master netting agreement, was a gross derivative asset of $34.6 million and gross derivative liability of $9.7 million as of December 31, 2025.

All changes in fair value of these instruments are recorded in other non-interest income. Given the mirror-image terms of the outstanding derivative portfolio, the change in fair value for the years ended December 31, 2025, 2024, and 2023 had an insignificant impact on the Consolidated Statements of Income.

The Corporation also enters into interest rate swaps to manage interest rate risk and reduce the cost of match-funding certain long-term fixed rate loans. These derivative contracts involve the receipt of floating rate interest from a counterparty in exchange for the Corporation making fixed-rate payments over the life of the agreement, without the exchange of the underlying notional value. The instruments are designated as cash flow hedges as the receipt of floating rate interest from the counterparty is used to manage interest rate risk related to cash outflows attributable to future wholesale deposit or short-term FHLB advance borrowings. The change in the fair value of these hedging instruments is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged transactions affect earnings. A pre-tax unrealized loss of $8.9 million and $3.5 million was recognized in other comprehensive income for the years ended December 31, 2025 and 2023, respectively, and there were no ineffective portions of the hedges. A pre-tax unrealized gain of $4.7 million was recognized in other comprehensive income for the year ended December 31, 2024, and there were no ineffective portions of the hedges.

The Corporation also enters into interest rate swaps to mitigate market value volatility on certain long-term fixed securities. The objective of the hedge is to protect the Corporation against changes in fair value due to changes in benchmark interest rates. The instruments are designated as fair value hedges as the changes in the fair value of the interest rate swap are expected to offset changes in the fair value of the hedged item attributable to changes in the SOFR swap rate, the designated benchmark interest rate. These derivative contracts involve the receipt of floating rate interest from a counterparty in exchange for the Corporation making fixed-rate payments over the life of the agreement, without the exchange of the underlying notional value. The change in the fair value of these hedging instruments is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged transactions affect earnings. A pre-tax unrealized loss of $175,000 was recognized in other comprehensive income for the year ended December 31, 2025, and there were no ineffective portions of the hedges. A pre-tax unrealized gain of $390,000 and $22,000 was recognized in other comprehensive income for the years ended December 31, 2024 and 2023, respectively, and there were no ineffective portions of the hedges.

 

 

 

As of December 31, 2025

 

 

 

Number of
Instruments

 

 

Notional
Amount

 

 

Weighted
Average
Maturity
(In Years)

 

 

Fair
Value

 

 

 

(Dollars in Thousands)

 

Included in Derivative assets

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements on loans with commercial
   loan clients

 

 

62

 

 

$

662,325

 

 

 

3.64

 

 

$

9,704

 

Interest rate swap agreements on loans with third-party
   counterparties

 

 

124

 

 

 

1,166,859

 

 

 

4.36

 

 

 

24,854

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap related to AFS securities

 

 

11

 

 

$

12,500

 

 

 

6.28

 

 

$

839

 

Interest rate swap related to wholesale funding

 

 

4

 

 

 

48,400

 

 

 

2.12

 

 

 

1,118

 

Included in Derivative liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements on loans with commercial
   loan clients

 

 

62

 

 

$

504,535

 

 

 

5.31

 

 

$

34,558

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap related to wholesale funding

 

 

45

 

 

$

449,089

 

 

 

3.29

 

 

$

2,368

 

 

 

 

As of December 31, 2024

 

 

 

Number of
Instruments

 

 

Notional
Amount

 

 

Weighted
Average
Maturity
(In Years)

 

 

Fair
Value

 

 

 

(Dollars in Thousands)

 

Included in Derivative assets

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements on loans with commercial
   loan clients

 

 

20

 

 

$

232,488

 

 

 

4.55

 

 

$

2,015

 

Interest rate swap agreements on loans with third-party
   counter parties

 

 

106

 

 

 

1,022,365

 

 

 

5.24

 

 

 

54,544

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap related to AFS securities

 

 

11

 

 

$

12,500

 

 

 

7.28

 

 

$

1,014

 

Interest rate swap related to wholesale funding

 

 

36

 

 

 

384,655

 

 

 

3.95

 

 

 

8,189

 

Included in Derivative liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements on loans with commercial
   loan clients

 

 

86

 

 

$

789,877

 

 

 

5.44

 

 

$

56,559

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap related to wholesale funding

 

 

10

 

 

$

100,000

 

 

 

1.55

 

 

$

509

 
v3.25.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 18 — Commitments and Contingencies

The Bank is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of clients. These financial instruments include commitments to extend credit and standby letters of credit and involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the Consolidated Financial Statements. The contract amounts reflect the extent of involvement the Bank has in these particular classes of financial instruments.

In the event of non-performance, the Bank’s exposure to credit loss for commitments to extend credit and standby letters of credit is represented by the contractual amount of these instruments. The Bank uses the same credit policies in making commitments and conditional obligations as they do for instruments reflected in the Consolidated Financial Statements. An accrual for credit losses on financial instruments with off-balance sheet risk would be recorded separate from any valuation account related to any such recognized financial instrument. As of December 31, 2025 and 2024, there were no accrued credit losses for financial instruments with off-balance sheet risk.

Financial instruments whose contract amounts represent potential credit risk were as follows:

 

 

 

At December 31,

 

 

 

2025

 

 

2024

 

 

 

(In Thousands)

 

Commitments to extend credit, primarily commercial loans

 

$

1,083,828

 

 

$

1,046,598

 

Standby letters of credit

 

 

15,802

 

 

 

17,276

 

Commitments to extend credit are agreements to lend to a client as long as there is no violation of any condition in the contract. Commitments generally have fixed expiration dates or other termination clauses and may have a fixed interest rate or a rate which varies with the prime rate or other market indices and may require payment of a fee. Since some commitments expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements of the Bank. The Bank evaluates the creditworthiness of each client on a case-by-case basis and generally extends credit only on a secured basis. Collateral obtained varies but consists primarily of commercial real estate, accounts receivable, inventory, equipment, and securities. There is generally no market for commercial loan commitments, the fair value of which would approximate the present value of any fees expected to be received as a result of the commitment. These are not considered to be material to the financial statements.

Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a client to a third party. Generally, standby letters of credit expire within one year and are collateralized by accounts receivable, equipment, inventory, and commercial properties. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan

facilities to clients. The fair value of standby letters of credit is recorded as a liability when the standby letter of credit is issued. The fair value has been estimated to approximate the fees received by the Bank for issuance. The fees are recorded into income and the fair value of the guarantee is decreased ratably over the term of the standby letter of credit.

The Corporation sells the guaranteed portions of SBA 7(a) and 504 loans, as well as participation interests in other, non-SBA originated, loans to third parties. The Corporation has a continuing involvement in each of the transferred lending arrangements by way of relationship management and servicing the loans, as well as being subject to normal and customary requirements of the SBA loan program and standard representations and warranties related to sold amounts. In the event of a loss resulting from default and a determination by the SBA that there is a deficiency in the manner in which the loan was originated, funded, or serviced by the Corporation, the SBA may require the Corporation to repurchase the loan, deny its liability under the guaranty, reduce the amount of the guaranty, or, if it has already paid under the guaranty, seek recovery of the principal loss related to the deficiency from the Corporation. The Corporation must comply with applicable SBA regulations in order to maintain the guaranty. In addition, the Corporation retains the option to repurchase the sold guaranteed portion of an SBA loan if the loan defaults.

Management has assessed estimated losses inherent in the outstanding guaranteed portions of SBA loans sold in accordance with ASC 450, Contingencies, and determined a recourse reserve based on the probability of future losses for these loans to be $502,000 and $645,000 at December 31, 2025 and 2024, respectively, which is reported in accrued interest payable and other liabilities on the Consolidated Balance Sheets.

The summary of the activity in the SBA recourse reserve is as follows:

 

 

 

As of and for the Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

 

(In Thousands)

 

Balance at the beginning of the period

 

$

645

 

 

$

955

 

SBA recourse

 

 

(64

)

 

 

(104

)

Charge-offs, net

 

 

(79

)

 

 

(206

)

Balance at the end of the period

 

$

502

 

 

$

645

 

In the normal course of business, various legal proceedings involving the Corporation are pending. Management, based upon advice from legal counsel, does not anticipate any significant losses as a result of these actions. Management believes that any liability arising from any such proceedings currently existing or threatened will not have a material adverse effect on the Corporation’s financial position, results of operations, and cash flows.
v3.25.4
Fair Value Disclosures
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Disclosures

Note 19 — Fair Value Disclosures

The Corporation determines the fair values of its financial instruments based on the fair value hierarchy established in ASC Topic 820, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined as the price that would be received in an orderly transaction that is not a forced liquidation or distressed sale at the measurement date and is based on exit prices. Fair value includes assumptions about risk, such as nonperformance risk in liability fair values, and is a market-based measurement, not an entity-specific measurement. The standard describes three levels of inputs that may be used to measure fair value.

Level 1 — Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Corporation has the ability to access at the measurement date.

Level 2 — Level 2 inputs are inputs, other than quoted prices included with Level 1, that are observable for the asset or liability either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 — Level 3 inputs are supported by little or no market activity that are significant to the fair value of the assets or liabilities.

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Corporation’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

Assets and liabilities measured at fair value on a recurring basis, segregated by fair value hierarchy level, are summarized below:

 

 

 

December 31, 2025

 

 

 

Fair Value Measurements Using

 

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

(In Thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Securities available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

—

 

 

$

4,901

 

 

$

—

 

 

$

4,901

 

U.S. government agency securities - government-
   sponsored enterprises

 

 

—

 

 

 

2,314

 

 

 

—

 

 

 

2,314

 

Municipal securities

 

 

—

 

 

 

43,892

 

 

 

—

 

 

 

43,892

 

Residential mortgage-backed securities - government
   issued

 

 

—

 

 

 

166,635

 

 

 

—

 

 

 

166,635

 

Residential mortgage-backed securities - government-
   sponsored enterprises

 

 

—

 

 

 

162,543

 

 

 

—

 

 

 

162,543

 

Commercial mortgage-backed securities - government
   issued

 

 

—

 

 

 

2,114

 

 

 

—

 

 

 

2,114

 

Commercial mortgage-backed securities - government-
   sponsored enterprises

 

 

—

 

 

 

39,688

 

 

 

—

 

 

 

39,688

 

Interest rate swaps

 

 

—

 

 

 

36,515

 

 

 

—

 

 

 

36,515

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

 

—

 

 

 

36,926

 

 

 

—

 

 

 

36,926

 

 

 

 

December 31, 2024

 

 

 

Fair Value Measurements Using

 

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

(In Thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Securities available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

—

 

 

$

4,718

 

 

$

—

 

 

$

4,718

 

U.S. government agency securities - government-
   sponsored enterprises

 

 

—

 

 

 

3,153

 

 

 

—

 

 

 

3,153

 

Municipal securities

 

 

—

 

 

 

34,861

 

 

 

—

 

 

 

34,861

 

Residential mortgage-backed securities - government
   issued

 

 

—

 

 

 

123,223

 

 

 

—

 

 

 

123,223

 

Residential mortgage-backed securities - government-
   sponsored enterprises

 

 

—

 

 

 

134,765

 

 

 

—

 

 

 

134,765

 

Commercial mortgage-backed securities - government
   issued

 

 

—

 

 

 

2,224

 

 

 

—

 

 

 

2,224

 

Commercial mortgage-backed securities - government-
   sponsored enterprises

 

 

—

 

 

 

38,448

 

 

 

—

 

 

 

38,448

 

Interest rate swaps

 

 

—

 

 

 

65,762

 

 

 

—

 

 

 

65,762

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

 

—

 

 

 

57,068

 

 

 

—

 

 

 

57,068

 

 

For assets and liabilities measured at fair value on a recurring basis, there were no transfers between the levels during the years ended December 31, 2025 and 2024 related to the above measurements.

Assets and liabilities measured at fair value on a non-recurring basis, segregated by fair value hierarchy are summarized below:

 

 

 

December 31, 2025

 

 

 

Fair Value Measurements Using

 

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

(In Thousands)

 

Collateral-dependent loans

 

$

—

 

 

$

—

 

 

$

8,796

 

 

$

8,796

 

Repossessed assets

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loan servicing rights

 

 

—

 

 

 

—

 

 

 

1,317

 

 

 

1,317

 

 

 

 

December 31, 2024

 

 

 

Fair Value Measurements Using

 

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

(In Thousands)

 

Collateral-dependent loans

 

$

—

 

 

$

—

 

 

$

7,506

 

 

$

7,506

 

Repossessed assets

 

 

—

 

 

 

—

 

 

 

51

 

 

 

51

 

Loan servicing rights

 

 

—

 

 

 

—

 

 

 

1,245

 

 

 

1,245

 

 

Collateral-dependent loans were written down to the fair value of their underlying collateral less costs to sell of $8.8 million and $7.5 million at December 31, 2025 and December 31, 2024, respectively, through the establishment of specific reserves or by recording charge-offs when the carrying value exceeded the fair value of the underlying collateral of individually evaluated loans. Valuation techniques consistent with the market approach, income approach, or cost approach were used to measure fair value. These techniques included observable inputs for the collateral dependent loans being evaluated, such as current appraisals, recent sales of similar assets, or other observable market data, and unobservable inputs, typically when discounts are applied to appraisal values to adjust such values to current market conditions or to reflect net realizable values. The quantification of unobservable inputs for Level 3 individually evaluated loan values range from 13% - 100% as of the measurement date of December 31, 2025. The weighted average of those unobservable inputs was 40%. The majority of the individually evaluated loans are considered collateral dependent loans or are supported by an SBA guaranty.

Repossessed assets are measured and reported at fair value through a charge-off to the allowance for credit losses, if deemed necessary. The fair value of a repossessed asset, upon initial recognition, is estimated using a market approach or based on observable market data, such as a current appraisal, recent sale price of similar assets, or based upon assumptions specific to the individual property or equipment, such as management applied discounts used to further reduce values to a net realizable value when observable inputs become stale.

Loan servicing rights represent the asset retained upon sale of the guaranteed portion of certain SBA loans. When SBA loans are sold, servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. The servicing rights are subsequently measured using the amortization method, which requires amortization into interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans.

The Corporation periodically reviews this portfolio for impairment and engages a third-party valuation firm to assess the fair value of the overall servicing rights portfolio. Loan servicing rights do not trade in an active, open market with readily observable prices. While sales of loan servicing rights do occur, the precise terms and conditions typically are not readily available to allow for a “quoted price for similar assets” comparison. Accordingly, the Corporation utilizes an independent valuation from a third party which uses a discounted cash flow model to estimate the fair value of its loan servicing rights. The valuation model incorporates prepayment assumptions to project loan servicing rights cash flows based on the current interest rate scenario, which is then discounted to estimate an expected fair value of the loan servicing rights. The valuation model considers portfolio characteristics of the underlying serviced portion of the SBA loans and uses the following significant unobservable inputs: (1) constant prepayment rate (“CPR”) assumptions based on the SBA sold pools historical CPR as quoted in Bloomberg and (2) a discount rate. Due to the nature of the valuation inputs, loan servicing rights are classified in Level 3 of the fair value hierarchy.

Fair Value of Financial Instruments

The Corporation is required to disclose estimated fair values for its financial instruments. Fair value estimates, methods, and assumptions, consistent with exit price concepts for fair value measurements, are set forth below:

 

 

 

December 31, 2025

 

 

 

Carrying
Amount

 

 

Fair Value

 

 

 

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(In Thousands)

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

39,485

 

 

$

39,485

 

 

$

39,485

 

 

$

—

 

 

$

—

 

Securities available-for-sale

 

 

422,087

 

 

 

422,087

 

 

 

—

 

 

 

422,087

 

 

 

—

 

Securities held-to-maturity

 

 

5,210

 

 

 

5,141

 

 

 

—

 

 

 

5,141

 

 

 

—

 

Loans held for sale

 

 

18,849

 

 

 

20,357

 

 

 

—

 

 

 

20,357

 

 

 

—

 

Loans and lease receivables, net

 

 

3,337,364

 

 

 

3,330,756

 

 

 

—

 

 

 

—

 

 

 

3,330,756

 

Federal Home Loan Bank stock

 

 

8,940

 

 

N/A

 

 

N/A

 

 

N/A

 

 

N/A

 

Accrued interest receivable

 

 

13,100

 

 

 

13,100

 

 

 

13,100

 

 

 

—

 

 

 

—

 

Interest rate swaps

 

 

36,515

 

 

 

36,515

 

 

 

—

 

 

 

36,515

 

 

 

—

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

3,380,415

 

 

 

3,382,348

 

 

 

2,575,431

 

 

 

806,917

 

 

 

—

 

Federal Home Loan Bank advances and other borrowings

 

 

252,051

 

 

 

251,312

 

 

 

—

 

 

 

251,312

 

 

 

—

 

Accrued interest payable

 

 

9,417

 

 

 

9,417

 

 

 

9,417

 

 

 

—

 

 

 

—

 

Interest rate swaps

 

 

36,926

 

 

 

36,926

 

 

 

—

 

 

 

36,926

 

 

 

—

 

Off-balance sheet items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Standby letters of credit

 

 

197

 

 

 

197

 

 

 

—

 

 

 

—

 

 

 

197

 

N/A = The fair value is not applicable due to restrictions placed on transferability

 

 

 

December 31, 2024

 

 

 

Carrying
Amount

 

 

Fair Value

 

 

 

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(In Thousands)

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

157,702

 

 

$

157,702

 

 

$

157,702

 

 

$

—

 

 

$

—

 

Securities available-for-sale

 

 

341,392

 

 

 

341,392

 

 

 

—

 

 

 

341,392

 

 

 

—

 

Securities held-to-maturity

 

 

6,741

 

 

 

6,535

 

 

 

—

 

 

 

6,535

 

 

 

—

 

Loans held for sale

 

 

13,498

 

 

 

14,577

 

 

 

—

 

 

 

14,577

 

 

 

—

 

Loans and lease receivables, net

 

 

3,077,343

 

 

 

3,049,890

 

 

 

—

 

 

 

—

 

 

 

3,049,890

 

Federal Home Loan Bank stock

 

 

11,616

 

 

 

—

 

 

N/A

 

 

N/A

 

 

N/A

 

Accrued interest receivable

 

 

12,879

 

 

 

12,879

 

 

 

12,879

 

 

 

—

 

 

 

—

 

Interest rate swaps

 

 

65,762

 

 

 

65,762

 

 

 

—

 

 

 

65,762

 

 

 

—

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

3,107,140

 

 

 

3,107,068

 

 

 

2,406,532

 

 

 

700,536

 

 

 

—

 

Federal Home Loan Bank advances and other borrowings

 

 

320,049

 

 

 

314,175

 

 

 

—

 

 

 

314,175

 

 

 

—

 

Accrued interest payable

 

 

10,175

 

 

 

10,175

 

 

 

10,175

 

 

 

—

 

 

 

—

 

Interest rate swaps

 

 

57,068

 

 

 

57,068

 

 

 

—

 

 

 

57,068

 

 

 

—

 

Off-balance sheet items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Standby letters of credit

 

 

209

 

 

 

209

 

 

 

—

 

 

 

—

 

 

 

209

 

N/A = The fair value is not applicable due to restrictions placed on transferability

Disclosure of fair value information about financial instruments, for which it is practicable to estimate that value, is required whether or not recognized in the Consolidated Balance Sheets. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Certain

financial instruments and all non-financial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented do not necessarily represent the underlying value of the Corporation.

Securities: The fair value measurements of investment securities are determined by a third-party pricing service which considers observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, trade execution data, market consensus prepayment speeds, credit information, and the securities’ terms and conditions, among other things. The fair value measurements are subject to independent verification by another pricing source on a quarterly basis to review for reasonableness. Any significant differences in pricing are reviewed with appropriate members of management who have the relevant technical expertise to assess the results. The Corporation has determined that these valuations are classified in Level 2 of the fair value hierarchy. When the independent pricing service does not provide a fair value measurement for a particular security, the Corporation will estimate the fair value based on specific information about each security. Fair values derived in this manner are classified in Level 3 of the fair value hierarchy.

Loans Held for Sale: Loans held for sale, which consist of the guaranteed portions of SBA 7(a) loans, are carried at the lower of cost or estimated fair value. The estimated fair value is based on what secondary markets are currently offering for portfolios with similar characteristics.

Derivatives: The carrying amount and fair value of existing derivative financial instruments are based upon independent valuation models, which use widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative contract. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The Corporation incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Corporation considers the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees.

Limitations: Fair value estimates are made at a discrete point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Corporation’s entire holding of a particular financial instrument. Because no market exists for a significant portion of the Corporation’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Fair value estimates are based on existing balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and are not considered in the estimates.
v3.25.4
Condensed Parent Only Financial Information
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Condensed Parent Only Financial Information

Note 20 — Condensed Parent Only Financial Information

The following represents the condensed financial information of the Corporation only:

Condensed Balance Sheets

 

 

December 31,
2025

 

 

December 31,
2024

 

 

(In Thousands)

 

Assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

517

 

 

$

5,384

 

Investments in subsidiaries, at equity

 

 

423,364

 

 

 

379,604

 

Premises and equipment, net

 

 

56

 

 

 

67

 

Other assets

 

 

6,194

 

 

 

2,908

 

Total assets

 

$

430,131

 

 

$

387,963

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

Subordinated notes and other borrowings

 

$

54,805

 

 

$

54,689

 

Accrued interest payable and other liabilities

 

 

3,741

 

 

 

4,685

 

Total liabilities

 

 

58,546

 

 

 

59,374

 

Stockholders’ equity

 

 

371,585

 

 

 

328,589

 

Total liabilities and stockholders’ equity

 

$

430,131

 

 

$

387,963

 

 

Condensed Statements of Income

 

 

For the Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(In Thousands)

 

Net interest expense

 

$

3,532

 

 

$

3,283

 

 

$

1,989

 

Non-interest income

 

 

 

 

 

 

 

 

 

Dividends from subsidiaries

 

 

13,500

 

 

 

11,500

 

 

 

12,100

 

Consulting and rental income from consolidated
   subsidiaries

 

 

6,587

 

 

 

5,812

 

 

 

5,644

 

Other non-interest income

 

 

37

 

 

 

10

 

 

 

43

 

Total non-interest income

 

 

20,124

 

 

 

17,322

 

 

 

17,787

 

Non-interest expense

 

 

8,531

 

 

 

8,375

 

 

 

8,234

 

Gain before income tax benefit and equity in
   undistributed net income of consolidated subsidiaries

 

 

8,061

 

 

 

5,664

 

 

 

7,564

 

Income tax benefit

 

 

1,698

 

 

 

1,940

 

 

 

337

 

Gain before equity in undistributed net income of
   consolidated subsidiaries

 

 

9,759

 

 

 

7,604

 

 

 

7,901

 

Equity in undistributed net income of consolidated
   subsidiaries

 

 

40,560

 

 

 

36,641

 

 

 

29,126

 

Net income

 

$

50,319

 

 

$

44,245

 

 

$

37,027

 

 

Condensed Statements of Cash Flows

 

 

For the Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(In Thousands)

 

Operating activities

 

 

 

 

 

 

 

 

 

Net income

 

$

50,319

 

 

$

44,245

 

 

$

37,027

 

Adjustments to reconcile net income to net cash used in
   operating activities:

 

 

 

 

 

 

 

 

 

Equity in undistributed earnings of consolidated subsidiaries

 

 

(40,560

)

 

 

(36,641

)

 

 

(29,126

)

Share-based compensation

 

 

2,800

 

 

 

2,785

 

 

 

2,977

 

Excess tax benefit from share-based compensation

 

 

(62

)

 

 

(219

)

 

 

(91

)

Net (decrease) increase in other liabilities

 

 

(4,224

)

 

 

(146

)

 

 

(1,854

)

Other, net

 

 

(1,448

)

 

 

(1,639

)

 

 

1,207

 

Net cash provided by operating activities

 

 

6,825

 

 

 

8,385

 

 

 

10,140

 

Investing activities

 

 

 

 

 

 

 

 

 

Capital contributions to subsidiaries

 

 

—

 

 

 

—

 

 

 

(15,000

)

Net cash (used in) provided by investing activities

 

 

—

 

 

 

—

 

 

 

(15,000

)

Financing activities

 

 

 

 

 

 

 

 

 

Net increase in long-term borrowed funds

 

 

116

 

 

 

293

 

 

 

54

 

Proceeds from issuance of subordinated notes payable

 

 

—

 

 

 

20,000

 

 

 

15,000

 

Repayment of subordinated notes payable

 

 

—

 

 

 

(15,000

)

 

 

—

 

Proceeds from purchased funds and other short-term debt

 

 

—

 

 

 

—

 

 

 

—

 

Purchase of treasury stock

 

 

(1,390

)

 

 

(1,270

)

 

 

(2,971

)

Preferred stock dividends paid

 

 

(875

)

 

 

(875

)

 

 

(875

)

Cash dividends paid

 

 

(9,686

)

 

 

(8,320

)

 

 

(7,578

)

Net proceeds from purchases of ESPP shares

 

 

143

 

 

 

144

 

 

 

128

 

Net cash (used in) provided by financing activities

 

 

(11,692

)

 

 

(5,028

)

 

 

3,758

 

Net increase (decrease) in cash and due from banks

 

 

(4,867

)

 

 

3,357

 

 

 

(1,102

)

Cash and cash equivalents at the beginning of the period

 

 

5,384

 

 

 

2,027

 

 

 

3,129

 

Cash and cash equivalents at the end of the period

 

$

517

 

 

$

5,384

 

 

$

2,027

 
v3.25.4
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information

Note 21 — Segment Information

The Corporation’s reportable segment is determined by the Chief Executive Officer, who is the designated chief operating decision maker, based upon information provided by the Corporation’s products and services offered, primarily banking operations. The segment is also distinguished by the level of information provided to the chief operating decision maker, who uses such information to review performance of various components of the business. These components are then aggregated if operating performance, products and services and customers are similar. The chief operating decision maker will evaluate the financial performance of the Corporation’s business components such as by evaluating revenue streams, significant expenses, and budget to actual results in assessing the Corporation’s segment and in the determination of allocating resources. The chief operating decision maker uses revenue streams to evaluate product pricing and significant expenses to assess performance and return on assets. The chief operating decision maker uses consolidated net income to benchmark the Corporation against its competitors. The benchmarking analysis coupled with monitoring of budget to actual results is used in assessment performance and in establishing compensation. Loans, investments, and deposits provide the revenues in the banking operation. Interest expense, provision for credit losses and payroll provide the significant expenses in the banking operation. All operations are domestic.

 

For the Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(In Thousands)

 

Interest income

 

$

247,310

 

 

$

233,130

 

 

$

194,928

 

Reconciliation of revenue

 

 

 

 

 

 

 

 

 

Other revenues

 

 

31,937

 

 

 

29,251

 

 

 

31,308

 

Total consolidated revenues

 

 

279,247

 

 

 

262,381

 

 

 

226,236

 

Less: interest expense

 

 

110,620

 

 

 

108,924

 

 

 

82,340

 

Segment net interest and non-interest income

 

 

168,627

 

 

 

153,457

 

 

 

143,896

 

Less:

 

 

 

 

 

 

 

 

 

Provision for credit losses

 

 

8,655

 

 

 

8,827

 

 

 

8,182

 

Compensation expense

 

 

67,874

 

 

 

63,105

 

 

 

61,059

 

Other segment items

 

 

31,645

 

 

 

30,375

 

 

 

27,516

 

Income tax expense

 

 

10,134

 

 

 

6,905

 

 

 

10,112

 

Segment and consolidated net income

 

$

50,319

 

 

$

44,245

 

 

$

37,027

 

 

 

 

 

 

 

 

 

 

 

Other segment disclosures:

 

 

 

 

 

 

 

 

 

Interest income

 

$

247,310

 

 

$

233,130

 

 

$

194,928

 

Interest expense

 

 

110,620

 

 

 

108,924

 

 

 

82,340

 

Depreciation, amortization, and accretion

 

 

3,774

 

 

 

3,738

 

 

 

3,636

 

Other significant noncash item:

 

 

 

 

 

 

 

 

 

      Provision for credit losses

 

 

8,655

 

 

 

8,827

 

 

 

8,182

 

Segment assets

 

 

4,081,887

 

 

 

3,853,215

 

 

 

3,507,846

 

Expenses for segment assets

 

 

99,519

 

 

 

93,480

 

 

 

88,575

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of assets:

 

 

 

 

 

 

 

 

 

Total assets for reportable segments

 

$

4,081,887

 

 

$

3,853,215

 

 

$

3,507,846

 

Other assets

 

 

—

 

 

 

—

 

 

 

—

 

Total consolidated assets

 

$

4,081,887

 

 

$

3,853,215

 

 

$

3,507,846

 
v3.25.4
Condensed Quarterly Earnings (unaudited)
 12 Months Ended
Dec. 31, 2025
Quarterly Financial Information Disclosure [Abstract]  
Condensed Quarterly Earnings (unaudited)

Note 22 — Condensed Quarterly Earnings (unaudited)

 

 

 

2025

 

 

2024

 

 

 

Fourth
Quarter

 

 

Third
Quarter

 

 

Second
Quarter

 

 

First
Quarter

 

 

Fourth
Quarter

 

 

Third
Quarter

 

 

Second
Quarter

 

 

First
Quarter

 

 

 

(Dollars in Thousands, Except Per Share Data)

 

Interest income

 

$

62,752

 

 

$

63,746

 

 

$

61,282

 

 

$

59,530

 

 

$

60,110

 

 

$

59,327

 

 

$

57,910

 

 

$

55,783

 

Interest expense

 

 

27,990

 

 

 

28,860

 

 

 

27,498

 

 

 

26,272

 

 

 

26,962

 

 

 

28,320

 

 

 

27,370

 

 

 

26,272

 

Net interest income

 

 

34,762

 

 

 

34,886

 

 

 

33,784

 

 

 

33,258

 

 

 

33,148

 

 

 

31,007

 

 

 

30,540

 

 

 

29,511

 

Provision for credit losses

 

 

1,855

 

 

 

1,440

 

 

 

2,701

 

 

 

2,659

 

 

 

2,701

 

 

 

2,087

 

 

 

1,713

 

 

 

2,326

 

Non-interest income

 

 

7,461

 

 

 

9,640

 

 

 

7,255

 

 

 

7,579

 

 

 

8,005

 

 

 

7,064

 

 

 

7,425

 

 

 

6,757

 

Non-interest expense

 

 

24,130

 

 

 

25,700

 

 

 

24,968

 

 

 

24,719

 

 

 

23,152

 

 

 

23,107

 

 

 

23,879

 

 

 

23,342

 

Income before income tax
   expense

 

 

16,238

 

 

 

17,386

 

 

 

13,370

 

 

 

13,459

 

 

 

15,300

 

 

 

12,877

 

 

 

12,373

 

 

 

10,600

 

Income tax expense

 

 

2,905

 

 

 

2,993

 

 

 

1,948

 

 

 

2,288

 

 

 

885

 

 

 

2,351

 

 

 

1,917

 

 

 

1,752

 

Net income

 

 

13,333

 

 

 

14,393

 

 

 

11,422

 

 

 

11,171

 

 

 

14,415

 

 

 

10,526

 

 

 

10,456

 

 

 

8,848

 

Preferred stock dividend

 

 

219

 

 

 

218

 

 

 

219

 

 

 

219

 

 

 

219

 

 

 

218

 

 

 

219

 

 

 

219

 

Income available to common
   shareholders

 

$

13,114

 

 

$

14,175

 

 

$

11,203

 

 

$

10,952

 

 

$

14,196

 

 

$

10,308

 

 

$

10,237

 

 

$

8,629

 

Per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings

 

$

1.58

 

 

$

1.70

 

 

$

1.35

 

 

$

1.32

 

 

$

1.71

 

 

$

1.24

 

 

$

1.23

 

 

$

1.04

 

Diluted earnings

 

 

1.58

 

 

 

1.70

 

 

 

1.35

 

 

 

1.32

 

 

 

1.71

 

 

 

1.24

 

 

 

1.23

 

 

 

1.04

 

Dividends declared

 

 

0.29

 

 

 

0.29

 

 

 

0.29

 

 

 

0.29

 

 

 

0.25

 

 

 

0.25

 

 

 

0.25

 

 

 

0.25

 
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation

Basis of Presentation. The Consolidated Financial Statements include the accounts of the Corporation and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates

Use of Estimates. Management of the Corporation is required to make estimates and assumptions which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. Material estimates that could significantly change in the near-term include the value of securities and interest rate swaps, level of allowance for credit losses, lease residuals, property under operating leases, goodwill, and income taxes.
Subsequent Events

Subsequent Events. Subsequent events have been evaluated through the date of issuance of the Consolidated Financial Statements. No significant subsequent events have occurred through this date requiring adjustment to the financial statements or disclosures.
Cash and Cash Equivalents

Cash and Cash Equivalents. The Corporation considers federal funds sold, interest-bearing deposits, and short-term investments that have original maturities of three months or less to be cash equivalents.
Securities

Securities. The Corporation classifies its investment and mortgage-related securities as available-for-sale, held-to-maturity, and trading. Debt securities that the Corporation has the positive intent and ability to hold to maturity are classified as held-to-maturity and are stated at amortized cost. Debt securities bought expressly for the purpose of selling in the near term are classified as trading securities and are measured at fair value with unrealized gains and losses reported in earnings. Debt securities not classified as held-to-maturity or as trading are classified as available-for-sale. Available-for-sale securities are measured at fair value with unrealized gains and losses reported as a separate component of stockholders’ equity, net of tax. Realized gains and losses are included in the Consolidated Statements of Income as a component of non-interest income. Credit losses for securities are recorded as an allowance for credit losses through the provision for credit losses. The cost of securities sold is based on the specific identification method. The Corporation did not hold any trading securities at December 31, 2025 or 2024.

Discounts and premiums on securities are accreted and amortized into interest income using the effective yield method over the estimated life (based on maturity date, call date, or weighted average life) of the related security.

Allowance for Credit Loss (“ACL”) - Available For Sale (“AFS”) Debt Securities. For AFS debt securities in an unrealized loss position, the Corporation first assesses whether it intends to sell, or it is more likely than not that it will be required to sell, the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security's amortized cost basis is written down to fair value through income. For AFS debt securities that do not meet the aforementioned criteria, the Corporation evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and

an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any decline in fair value that has not been recorded through an allowance for credit losses is recognized in other comprehensive income, net of applicable taxes.

Changes in the ACL are recorded as a provision for (or recovery of) credit loss expense. Losses are charged against allowance when management believes that uncollectibility of an AFS debt security is confirmed or when either of the criteria regarding intent or requirement to sell is met.

Accrued interest receivable on AFS debt securities totaled $1.6 million at December 31, 2025 and is excluded from the estimate of credit losses.

ACL - Held To Maturity (“HTM”) Debt Securities. Management measures expected credit losses on HTM debt securities on a collective basis by major security type. Accrued interest receivable on HTM debt securities totaled $24,000 at December 31, 2025 and is excluded from the estimate of credit losses. The HTM securities portfolio includes residential mortgage backed securities (“MBS”) commercial MBS, and municipal securities. All residential and commercial MBS are U.S. government issued or U.S. government sponsored and substantially all municipal bonds are rated A or above.
Loans Held for Sale and Loans Transferred to Third Parties

Loans Held for Sale and Loans Transferred to Third Parties. The guaranteed portions of SBA loans which are originated and intended for sale in the secondary market are classified as held for sale. These loans are carried at the lower of cost or fair value in the aggregate. Unrealized losses on such loans are recognized through a valuation allowance by a charge to other non-interest income. Gains and losses on the sale of loans are also included in other non-interest income. As assets specifically originated for sale, the origination of, disposition of, and gain/loss on these loans are classified as operating activities in the Consolidated Statements of Cash Flows. Fees received from the borrower and direct costs to originate the loans are deferred and recognized as part of the gain or loss on sale. There were $18.8 million and $13.5 million in loans held for sale outstanding at December 31, 2025 and 2024, respectively.

Non-SBA loans which are originated and sold are treated as sales and derecognized under the applicable accounting guidance at the time of transfer. No gain or loss is recognized on participation interests in other, non-SBA originated loans as they were transferred at or near the date of loan origination and the payments received for servicing the portion of the loans participated represents adequate compensation.

Loans and Leases

Loans and Leases. Loans and leases which management has the intent and ability to hold for the foreseeable future or until maturity are reported at their outstanding principal balance with adjustments for partial charge-offs, the allowance for credit losses, deferred fees or costs on originated loans and leases, and unamortized premiums or discounts on any purchased loans.

Occasionally, the Corporation modifies loans or leases to borrowers in financial distress by providing principal forgiveness, term extension, an other-than-significant payment delay or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit loss.

Interest on non-accrual loans and leases is accrued and credited to income on a daily basis based on the unpaid principal balance and is calculated using the effective interest method. Per policy, a loan or a lease is placed on non-accrual status when it becomes 90 days past due or it is doubtful that contractual principal and interest will be collected in accordance with the terms of the contract. A loan or lease is determined to be past due if the borrower fails to meet a contractual payment and will continue to be considered past due until all contractual payments are received. When a loan or lease is placed on non-accrual, the interest accrual is discontinued and previously accrued but uncollected interest is deducted from interest income. If collectability of the contractual principal and interest is in doubt, payments received are first applied to reduce the loan principal. If collectability of the contractual payments is not in doubt, payments may be applied to interest for interest amounts due on a cash basis. As soon as it is determined with certainty that the principal of a non-performing loan or lease is uncollectible, either through collections from the borrower or disposition of the underlying collateral, the portion of the principal that exceeds any final collections is charged off against the allowance for credit loss. Loans or leases are returned to accrual status when they are brought current in terms of both principal and accrued interest due, have performed in accordance with contractual terms for a reasonable period of time, and when the ultimate collectability of total contractual principal and interest is no longer doubtful.

Transfers of assets, including but not limited to the guaranteed portions of SBA loans and participation interests in other, non-SBA originated loans, that upon completion of the transfer satisfy the conditions to be reported as a sale, including legal isolation, are derecognized from the Consolidated Financial Statements. Transfers of assets that upon completion of the transfer do not meet the conditions of a sale are recorded on a gross basis with a secured borrowing identified to reflect the amount of the transferred interest.

Loan and lease origination fees as well as certain direct origination costs are deferred and amortized as an adjustment to loan yields over the stated term of the loan. Loans or leases that result from a refinance or restructuring, other than modified loans or leases to borrowers in financial distress, where terms are at least as favorable to the Corporation as the terms for comparable loans to other borrowers with similar collection risks and result in an essentially new loan, are accounted for as a new loan. Any unamortized net fees, costs, or penalties are recognized when the new loan or lease is originated. Unamortized net loan or lease fees or costs for loans and leases that result from a refinance or restructure with only minor modifications to the original loan or lease contract are carried forward as a part of the net investment in the new loan. For modified loans or leases to borrowers in financial distress, all fees received in connection with a modification of terms are applied as a reduction of the loan or lease and any related costs, including direct loan origination costs, are charged to expense as incurred.
ACL - Loans

ACL - Loans. The ACL is a valuation account that is deducted from the loans' amortized cost basis to present the net amounts expected to be collected on the loans. Loans are charged off against the allowance when management believes that the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off.

Management estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as changes in external conditions, such as changes in unemployment rates, property values, or other relevant factors.

Accrued interest receivable on loans totaled $11.2 million at December 31, 2025 and is excluded from the estimate of credit losses.

ACL - Loans - Collectively Evaluated. The ACL is measured on a collective pool basis when similar risk characteristics exist. The Corporation has identified the following portfolio segments:

Commercial Real Estate: Commercial real estate portfolio segments utilize substantially similar processes and controls. Due to the collateral types, availability of data, and results of the Loss Driver Analysis (“LDA”), management utilizes a unique forecast model for each portfolio segment along with a separate analysis of subjective factors.

•
Construction and Land Development - Loans secured by real estate used to finance land development or construction.
•
1-4 Family - Loans secured by 1-4 family residential property
•
Multi-family - Loans secured by multi-family residential property
•
Owner Occupied - Loans secured by nonfarm, nonresidential owner-occupied property
•
Non-owner Occupied - Loans secured by other nonfarm, nonresidential property

Commercial and Industrial Lending: Commercial and industrial lending is a portfolio segment where management uses a common forecast due to common risk management, similarity in collateral types, availability of data, and results of the LDA. Management has distinct processes, controls, and procedures which enable more precise development of subjective factors at the pool level.

•
Commercial - Loans to small- to medium-sized companies primarily in the Wisconsin, Kansas, and Missouri markets, predominantly through lines of credit and term loans to businesses.
•
Asset Based Lending - Products include revolving lines of credit and term loans for strategic acquisitions, capital expenditures, working capital, bank debt refinancing, debt restructuring, and corporate turnaround strategies.
•
Floorplan - Floor plan financing for independent auto dealerships nationwide.
•
SBA - Loans originated in accordance with the guidelines of the Small Business Administration (“SBA”). As the Corporation prefers to sell the guaranteed portion, the on-balance sheet loans are primarily unguaranteed.
•
Equipment finance - Loans and leases secured by a broad range of equipment to commercial clients in a variety of industries.

Consumer and other: Consumer loans consisted of marketable security loans and other personal loans for executives and high net-worth individuals. The Corporation uses a unique forecast model and subjective factors for this portfolio segment due to the client type and data availability.

Measures of the ACL are as follows:

Portfolio Segment

 

Pool

 

Measurement Method

 

Loss Driver

Commercial real estate

 

 

 

 

 

 

Owner occupied

 

 

 

Discounted Cash Flow

 

National unemployment, National GDP

Non-owner occupied

 

 

 

Discounted Cash Flow

 

National unemployment, National GDP

Construction and land development

 

 

 

Discounted Cash Flow

 

National unemployment, National GDP

Multi-family

 

 

 

Discounted Cash Flow

 

National unemployment, National GDP

1-4 Family

 

 

 

Discounted Cash Flow

 

National unemployment, National GDP

Commercial and industrial

 

 

 

 

 

 

 

 

Commercial

 

Discounted Cash Flow

 

National unemployment, National GDP

 

 

ABL

 

Discounted Cash Flow

 

National unemployment, National GDP

 

 

Floorplan

 

Discounted Cash Flow

 

National unemployment, National GDP

 

 

SBA

 

Weighted Average Remaining Maturity

 

N/A

 

 

Equipment Finance

 

Discounted Cash Flow

 

National unemployment, National GDP

Consumer and other

 

 

 

Discounted Cash Flow

 

National unemployment, National GDP

The Corporation utilized a discounted cash flow (DCF) or Weighted Average Remaining Maturity (WARM) method to estimate the quantitative portion of the allowance for credit losses for loans evaluated on a collective pooled basis. For each segment, a LDA was performed in order to identify loss drivers and create a regression model for use in forecasting cash flows. For all DCF-based pools, the LDA analyses utilized the Corporation’s and peer data from the Federal Financial Institutions Examination Council's (“FFIEC”) Call Report filings.

In creating the DCF model, the Corporation has established a one-year reasonable and supportable forecast period with a one-year straight line reversion to the long-term historical average. Due to the infrequency of losses, the Corporation elected to use peer data for a more statistically sound calculation.

Key inputs into the DCF model include loan-level detail, including the amortized cost basis of individual loans, payment structure, and forecasted loss drivers. The Corporation utilizes a third party to provide economic forecasts under various scenarios, which are assessed quarterly considering the scenarios in the context of the current economic environment and presumed risk of loss.

Expected credit losses are estimated over the contractual term of the loans, adjusted for prepayments when appropriate. The contractual term excludes extensions, renewals, and modifications unless the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancellable by the Corporation.

Additional key assumptions in the DCF model include the probability of default (“PD”), loss given default (“LGD”), and prepayment/curtailment rates. The Corporation utilizes the model-driven PD and a LGD derived using a method referred to as Frye Jacobs. The Frye Jacobs method is a mathematical formula that traces the relationship between LGD and PD over time and projects the LGD based on the level of PD forecasted. In all cases, the Frye Jacobs method is utilized to calculate LGDs during the forecast period, reversion period and long-term historical average. Prepayment and curtailment rates were calculated through third party studies of the Corporation’s own data.

When the DCF method is used to determine the allowance for credit losses, management adjusts the effective interest rate used to discount expected cash flows to incorporate expected prepayments.

For the WARM-based SBA pool, Corporation-specific data was used to develop the model assumptions. The Corporation developed a reasonable and supportable estimate for the remaining maturity and estimated loss through analysis of historical data. The remaining

maturity calculation excludes loans originated under the Paycheck Protection Program as such loans are inconsistent with the current portfolio composition. The quarterly loss rate data includes 2017 to current as the SBA lending policies and procedures were realigned in 2016 following the acquisition of Alterra Bank. Only the unguaranteed portion of the SBA loans are assessed via WARM. The risk of a failed guarantee claim is captured under ASC 450 contingency accounting.

Qualitative factors for DCF and WARM methodologies include the following:

•
The Corporation’s lending policies and procedures, including changes in lending strategies, underwriting standards and practices for collections, write-offs, and recoveries;
•
Actual and expected changes in international, national, regional, and local economic and business conditions and developments in which the Corporation operates that affect the collectability of financial assets;
•
The experience, ability, and depth of the Corporation’s lending, investment, collection, and other relevant management and staff;
•
The volume of past due loans and leases, the volume of non-accrual and the volume and severity of adversely classified or graded assets;
•
The existence and effect of industry concentrations of credit;
•
Independent indicators of collateral quality;
•
The quality of the Corporation’s credit review function and;
•
The effect of other external factors such as the regulatory, legal and technological environments, competition, and events such as natural disasters or pandemics

ACL - Loans - Individually Evaluated. Loans that do not share risk characteristics are evaluated on an individual basis and are excluded from the collective evaluation. The Corporation has determined that all loans which have been placed on non-performing status and other performing loans that have been identified due to non-conforming characteristics will be individually evaluated. Individual analysis will evaluate the required specific reserve for loans in scope. Specific reserves on non-performing loans are typically based on management’s best estimate of the fair value of collateral securing these loans, adjusted for estimated selling costs as appropriate.

ACL - Off-Balance Sheet Credit Exposures. The Corporation estimates expected credit losses over the contractual period in which the Corporation is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Corporation. The allowance for credit losses on off-balance sheet credit exposure is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. Funding rates are based on a historical analysis of the Corporation’s portfolio, while estimates of credit losses are determined using the same loss rates as funded loans.
Premises and Equipment, net

Premises and Equipment, net. The cost of capitalized leasehold improvements is amortized on the straight-line method over the lesser of the term of the respective lease or estimated economic life. Equipment is stated at cost less accumulated depreciation and amortization which is calculated by the straight-line method over the estimated useful lives of 3 to 10 years. Maintenance and repair costs are charged to expense as incurred. Improvements which extend the useful life are capitalized and depreciated over the remaining useful life of the assets.
Repossessed Assets

Repossessed Assets. Property acquired by repossession, foreclosure, or by deed in lieu of foreclosure is recorded at the lower of the carrying amount of the loan or fair value of the underlying property, less costs to sell. This value becomes the new cost basis for the repossessed asset. Any write-down in the carrying value of a loan or lease at the time of acquisition is charged to the allowance for credit losses. Any subsequent write-downs to reflect current fair value, as well as gains and losses on disposition and revenues are recorded in non-interest expense. Any required or prudent costs incurred relating to the development and improvement of the property are capitalized while holding period costs are charged to other non-interest expense.
Leases

Leases. At contract inception, the Corporation determines whether the arrangement is or contains a lease and determines the lease classification. The lease term is determined based on the non-cancellable term of the lease adjusted to the extent optional renewal terms and termination rights are reasonably certain. Lease expense is recognized evenly over the lease term. Variable lease payments

are recognized as period costs. The present value of remaining lease payments is recognized as a liability on the balance sheet with a corresponding right-of-use asset adjusted for prepaid or accrued lease payments. The Corporation uses the Federal Home Loan Bank fixed advance rate as of the lease inception date that most closely resembles the remaining term of the lease as the incremental borrowing rate, unless the interest rate implicit in the lease contract is readily determinable. The Corporation has elected to exclude short-term leases as well as all non-lease items, such as common area maintenance, from being included in the lease liability on the Consolidated Balance Sheets.
Bank-Owned Life Insurance

Bank-Owned Life Insurance. Bank-owned life insurance (“BOLI”) is reported at the amount that would be realized if the life insurance policies were surrendered on the balance sheet date. BOLI policies owned by the Bank are purchased with the objective to fund certain future employee benefit costs with the death benefit proceeds. The cash surrender value of such policies is recorded in bank-owned life insurance on the Consolidated Balance Sheets and changes in the value are recorded in non-interest income. The total death benefit of all BOLI policies was $180.1 million and $133.8 million as of December 31, 2025 and 2024, respectively. There are no restrictions on the use of BOLI proceeds nor are there any contractual restrictions on the ability to surrender the policy. As of December 31, 2025 and 2024, there were no borrowings against the cash surrender value of the BOLI policies.
Federal Home Loan Bank Stock

Federal Home Loan Bank Stock. The Bank is required to maintain Federal Home Loan Bank (“FHLB”) stock as members of the FHLB, and in amounts as required by the FHLB. This equity security is “restricted” in that it can only be sold back to the FHLB or another member institution at par. Therefore, it is less liquid than other marketable equity securities and the fair value is equal to cost. At December 31, 2025 and 2024, the Bank had FHLB stock of $8.9 million and $11.6 million, respectively. The Corporation periodically evaluates its holding in FHLB stock for impairment. Should the stock be impaired, it would be written down to its estimated fair value. There were no impairments recorded on FHLB stock during the years ended December 31, 2025 and 2024.
Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets. Goodwill and other intangible assets consist primarily of goodwill and loan servicing rights. Loan servicing rights, when originated, are initially recorded at fair value and subsequently amortized in proportion to and over the period of estimated net servicing income. The Corporation reviews other intangible assets for impairment at least annually, or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable, in which case an impairment charge would be recorded.

Goodwill is not amortized but is subject to impairment tests on at least an annual basis, and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount (including goodwill). An initial qualitative evaluation is made to assess the likelihood of impairment and determine whether further quantitative testing to calculate the fair value is necessary. When the qualitative evaluation indicates that impairment is more likely than not, quantitative testing is required whereby the fair value of each reporting unit is calculated and compared to the recorded book value. If the calculated fair value of the reporting unit exceeds its carrying value, goodwill is not considered impaired. If the carrying value of a reporting unit exceeds its calculated fair value, an impairment charge is recognized in earnings in an amount equal to the difference.
Investments in Limited Partnerships

Investments in Limited Partnerships. The Corporation owns certain equity investments in other organizations which are not consolidated because the Corporation does not own more than a 50% interest or exercise control over the organization. Investments in limited partnerships are generally accounted for using the equity method. All of these investments are periodically evaluated for impairment. Should an investment be impaired, it would be written down to its estimated fair value. The investments are reported in other assets and the income and loss from such investments, if any, is reported in non-interest income.
Derivative Instruments

Derivative Instruments. The Corporation uses derivative instruments to protect against the risk of adverse price or interest rate movements on the value of certain assets, liabilities, future cash flows, and economic hedges for written client derivative contracts. Derivative instruments represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash to the other party based on a notional amount and an underlying variable, as specified in the contract, and may be subject to master netting agreements.

Market risk is the risk of loss arising from an adverse change in interest rates, exchange rates, or equity prices. The Corporation’s primary market risk is interest rate risk. Instruments designed to manage interest rate risk include interest rate swaps, interest rate options, and interest rate caps and floors with indices that relate to the pricing of specific assets and liabilities. The nature and volume of the derivative instruments used to manage interest rate risk depend on the level and type of assets and liabilities on the balance

sheet and the risk management strategies for the current and anticipated rate environments. Counterparty risk with respect to derivative instruments occurs when a counterparty to a derivative contract with an unrealized gain fails to perform according to the terms of the agreement. Counterparty risk is managed by limiting the counterparties to highly rated dealers, requiring collateral postings when values are in deficit positions, applying uniform credit standards to all activities with credit risk, and monitoring the size and the maturity structure of the derivative portfolio.

All derivative instruments are to be carried at fair value on the Consolidated Balance Sheets. The accounting for the gain or loss due to changes in the fair value of a derivative instrument depends on whether the derivative instrument qualifies as a hedge. If the derivative instrument does not qualify as a hedge, the gains or losses are reported in earnings when they occur. However, if the derivative instrument qualifies as a hedge, the accounting varies based on the type of risk being hedged. The Corporation utilizes interest rate swaps offered directly to qualified commercial borrowers, which do not qualify for hedge accounting, and therefore, all changes in fair value and gains and losses on these instruments are reported in earnings as they occur. The effects of netting arrangements are disclosed within the Notes of the Consolidated Financial Statements. The Corporation offers interest rate swap products directly to qualified commercial borrowers. The Corporation economically hedges client derivative transactions by entering into offsetting interest rate swap contracts executed with a third party. Derivative transactions executed as part of this program are not considered hedging instruments and are marked-to-market through earnings each period. The derivative contracts have mirror-image terms, which results in the positions’ changes in fair value offsetting through earnings each period. The credit risk and risk of non-performance embedded in the fair value calculations is different between the dealer counterparties and the commercial borrowers which may result in a difference in the changes in the fair value of the mirror-image swaps. The Corporation incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the counterparty’s risk in the fair value measurements. When evaluating the fair value of its derivative contracts for the effects of non-performance and credit risk, the Corporation considers the impact of netting and any applicable credit enhancements such as collateral postings, thresholds and guarantees.

The Corporation also enters into interest rate swaps to manage interest rate risk and reduce the cost of match-funding certain long-term fixed rate loans. These derivative contracts are designated as a cash flow hedge as the receipt of floating interest from the counterparty is used to manage interest rate risk associated with forecasted issuances of wholesale deposits and short-term FHLB advances. The change in fair value of the hedging instrument is recorded in accumulated other comprehensive income.
SBA Recourse Reserve

SBA Recourse Reserve. The Corporation establishes SBA recourse reserves on the guaranteed portions of sold SBA loans when it is probable that the SBA will deny or repair the guaranty on the sold portion of the loan and there is an estimated collateral shortfall. The recourse reserve is reported in accrued interest payable and other liabilities on the Consolidated Balance Sheets.
Income Taxes

Income Taxes. Deferred income tax assets and liabilities are computed for temporary differences in timing between the financial statement and tax basis of assets and liabilities that result in taxable or deductible amounts in the future based on enacted tax law and rates applicable to periods in which the differences are expected to affect taxable income. The effect of a change in tax rates on deferred taxes is recognized in income in the period that includes the enactment date. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversals of deferred tax liabilities, appropriate tax planning strategies, and projections for future taxable income over the period which the deferred tax assets are deductible. When necessary, valuation allowances are established to reduce deferred tax assets to the estimated realizable amount.

Income tax expense or benefit represents the tax payable or tax refundable for a period, adjusted by the applicable change in deferred tax assets and liabilities for that period. The Corporation also invests in certain development entities that generate federal and state historic tax credits, low income housing tax credits, or solar renewable energy tax credits. The tax benefits associated with these investments are accounted for either under the flow-through method, equity method, or proportional amortization method and are recognized when the respective project is placed in service or over the investment term. The Corporation and its subsidiaries file a consolidated federal income tax return and separate state income tax returns. Tax sharing agreements allocate taxes to each legal entity for the settlement of intercompany taxes. The Corporation applies a more likely than not standard to each of its tax positions when determining the amount of tax expense or benefit to record in its financial statements. Unrecognized tax benefits are recorded in other liabilities. The Corporation recognizes accrued interest relating to unrecognized tax benefits in income tax expense and penalties in other non-interest expense.
Other Comprehensive Income or Loss

Other Comprehensive Income or Loss. Comprehensive income or loss, shown as a separate financial statement, includes net income or loss, changes in unrealized gains and losses on available-for-sale securities, changes in deferred gains and losses on investment securities transferred from available-for-sale to held-to-maturity, if any, changes in unrealized gains and losses associated with cash flow hedging instruments, if any, and the amortization of deferred gains and losses associated with terminated cash flow hedges, if any. For the year ended December 31, 2025, no realized securities losses were recognized and reclassified out of accumulated other comprehensive loss. For the year ended December 31, 2024, $8,000 of realized securities losses were recognized and reclassified out of accumulated other comprehensive loss.
Earnings Per Common Share

Earnings Per Common Share. Earnings per common share (“EPS”) is computed using the two-class method. Basic EPS is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding for the period, excluding any participating securities. Participating securities include unvested restricted shares. Unvested restricted shares are considered participating securities because holders of these securities receive non-forfeitable dividends at the same rate as the holders of the Corporation’s common stock. Diluted EPS is computed by dividing net income allocated to common shares adjusted for reallocation of undistributed earnings of unvested restricted shares by the weighted average number of common shares determined for the basic EPS plus the dilutive effect of common stock equivalents using the treasury stock method based on the average market price for the period.
Operating Segments

Operating Segments. While the chief decision-makers monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Corporation-wide basis. Operating segments are aggregated into one as operating results for all segments are similar. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.

Share-Based Compensation

Share-Based Compensation. The Corporation may grant restricted stock awards, restricted stock units, and other stock based awards to plan participants, subject to forfeiture upon the occurrence of certain events until the dates specified in the participant’s award agreement. The Corporation accounts for forfeitures as they occur. While restricted stock is subject to forfeiture, restricted stock award participants may exercise full voting rights and will receive all dividends and other distributions paid with respect to the restricted shares. Dividend equivalent units with respect to restricted stock grants made after January 2023 will be deferred and paid at the time of vesting. Restricted stock units do not have voting rights and are provided dividend equivalents. The restricted stock granted under the 2019 Equity Incentive Plan (the “Plan”) is typically subject to a three or four year vesting period. Compensation expense for restricted stock is recognized over the requisite service period of three or four years for the entire award on a straight-line basis. Upon vesting of restricted stock, the benefit of tax deductions in excess of recognized compensation expense is reflected as an income tax benefit in the Consolidated Statements of Income.

The Corporation issues a combination of performance-based restricted stock units and restricted stock awards to plan participants. Vesting of the performance-based restricted stock units will be measured on Total Shareholder Return (“TSR”) and Return on Average Equity (“ROAE”) prior to 2023 or Return on Average Tangible Common Equity (“ROATCE”) for issuances after 2022, and will cliff-vest after a three-year measurement period based on the Corporation’s performance relative to a custom peer group. At the end of the performance period, the number of actual shares to be awarded varies between 0% and 200% of target amounts. Compensation expense is recognized for performance-based restricted stock units over the requisite service and performance period of generally three years for the entire expected award on a straight-line basis. The compensation expense for the awards expected to vest for the percentage of performance-based restricted stock units subject to the metric will be adjusted if there is a change in the expectation of metric. The compensation expense for the awards expected to vest for the percentage of performance-based restricted stock units subject to the TSR metric are never adjusted, and are amortized utilizing the accounting fair value provided using a Monte Carlo pricing model.

The Corporation offers an Employee Stock Purchase Plan (“ESPP”) to all qualifying employees. The plan qualifies as an ESPP under section 423 of the Internal Revenue Code of 1986. Under the ESPP, eligible employees may enroll in a three month offer period that begins January, April, July, and October of each year. Employees may purchase a limited number of shares of the Corporation’s common stock at 90% of the fair market value on the last day of the offering period. The ESPP is treated as a compensatory plan for purposes of share-based compensation expense.
Recent Accounting Pronouncements

Recent Accounting Pronouncements.

In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This update enhances the transparency and decision usefulness of income tax disclosures by providing better information regarding exposure to potential changes in jurisdictional tax legislation and related forecasting and cash flow opportunities. This update is effective for fiscal years beginning after December 15, 2024. The Corporation adopted this disclosure standard as of December 31, 2025. The adoption of this standard had no affect on net income, stockholders' equity or cash flows.

In November 2024, the FASB issued ASU No. 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40).” This update improves the transparency and usefulness of financial statements by requiring companies to break down certain expense line items. This update is effective for fiscal years beginning after December 15, 2026. The Corporation will implement this standard when it becomes effective. The adoption of the standard only requires additional disclosures and therefore will not affect net income, stockholders' equity or cash flows.

In September 2025, the FASB issued ASU No. 2025-06, “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” This update modernizes the accounting for internal-use software. This update is effective for fiscal years beginning after December 15, 2027. The Corporation is assessing the impact of this standard.
Reclassification

Reclassifications. Certain amounts in the 2024 consolidated financial statements have been reclassified to conform to the 2025 presentation. These reclassifications were not material and did not impact previously reported net income or comprehensive income.
Fair Value of Financial Instruments

The Corporation determines the fair values of its financial instruments based on the fair value hierarchy established in ASC Topic 820, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined as the price that would be received in an orderly transaction that is not a forced liquidation or distressed sale at the measurement date and is based on exit prices. Fair value includes assumptions about risk, such as nonperformance risk in liability fair values, and is a market-based measurement, not an entity-specific measurement. The standard describes three levels of inputs that may be used to measure fair value.

Level 1 — Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Corporation has the ability to access at the measurement date.

Level 2 — Level 2 inputs are inputs, other than quoted prices included with Level 1, that are observable for the asset or liability either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 — Level 3 inputs are supported by little or no market activity that are significant to the fair value of the assets or liabilities.

In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Corporation’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.
Fair Value Measurement

Disclosure of fair value information about financial instruments, for which it is practicable to estimate that value, is required whether or not recognized in the Consolidated Balance Sheets. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Certain

financial instruments and all non-financial instruments are excluded from the disclosure requirements. Accordingly, the aggregate fair value amounts presented do not necessarily represent the underlying value of the Corporation.

Securities: The fair value measurements of investment securities are determined by a third-party pricing service which considers observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, trade execution data, market consensus prepayment speeds, credit information, and the securities’ terms and conditions, among other things. The fair value measurements are subject to independent verification by another pricing source on a quarterly basis to review for reasonableness. Any significant differences in pricing are reviewed with appropriate members of management who have the relevant technical expertise to assess the results. The Corporation has determined that these valuations are classified in Level 2 of the fair value hierarchy. When the independent pricing service does not provide a fair value measurement for a particular security, the Corporation will estimate the fair value based on specific information about each security. Fair values derived in this manner are classified in Level 3 of the fair value hierarchy.

Loans Held for Sale: Loans held for sale, which consist of the guaranteed portions of SBA 7(a) loans, are carried at the lower of cost or estimated fair value. The estimated fair value is based on what secondary markets are currently offering for portfolios with similar characteristics.

Derivatives: The carrying amount and fair value of existing derivative financial instruments are based upon independent valuation models, which use widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative contract. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The Corporation incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Corporation considers the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees.

Limitations: Fair value estimates are made at a discrete point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Corporation’s entire holding of a particular financial instrument. Because no market exists for a significant portion of the Corporation’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Fair value estimates are based on existing balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and are not considered in the estimates.
v3.25.4
Earnings Per Common Share (Policies)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Common Share

Earnings Per Common Share. Earnings per common share (“EPS”) is computed using the two-class method. Basic EPS is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding for the period, excluding any participating securities. Participating securities include unvested restricted shares. Unvested restricted shares are considered participating securities because holders of these securities receive non-forfeitable dividends at the same rate as the holders of the Corporation’s common stock. Diluted EPS is computed by dividing net income allocated to common shares adjusted for reallocation of undistributed earnings of unvested restricted shares by the weighted average number of common shares determined for the basic EPS plus the dilutive effect of common stock equivalents using the treasury stock method based on the average market price for the period.
v3.25.4
Share-Based Compensation (Policies)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation

Share-Based Compensation. The Corporation may grant restricted stock awards, restricted stock units, and other stock based awards to plan participants, subject to forfeiture upon the occurrence of certain events until the dates specified in the participant’s award agreement. The Corporation accounts for forfeitures as they occur. While restricted stock is subject to forfeiture, restricted stock award participants may exercise full voting rights and will receive all dividends and other distributions paid with respect to the restricted shares. Dividend equivalent units with respect to restricted stock grants made after January 2023 will be deferred and paid at the time of vesting. Restricted stock units do not have voting rights and are provided dividend equivalents. The restricted stock granted under the 2019 Equity Incentive Plan (the “Plan”) is typically subject to a three or four year vesting period. Compensation expense for restricted stock is recognized over the requisite service period of three or four years for the entire award on a straight-line basis. Upon vesting of restricted stock, the benefit of tax deductions in excess of recognized compensation expense is reflected as an income tax benefit in the Consolidated Statements of Income.

The Corporation issues a combination of performance-based restricted stock units and restricted stock awards to plan participants. Vesting of the performance-based restricted stock units will be measured on Total Shareholder Return (“TSR”) and Return on Average Equity (“ROAE”) prior to 2023 or Return on Average Tangible Common Equity (“ROATCE”) for issuances after 2022, and will cliff-vest after a three-year measurement period based on the Corporation’s performance relative to a custom peer group. At the end of the performance period, the number of actual shares to be awarded varies between 0% and 200% of target amounts. Compensation expense is recognized for performance-based restricted stock units over the requisite service and performance period of generally three years for the entire expected award on a straight-line basis. The compensation expense for the awards expected to vest for the percentage of performance-based restricted stock units subject to the metric will be adjusted if there is a change in the expectation of metric. The compensation expense for the awards expected to vest for the percentage of performance-based restricted stock units subject to the TSR metric are never adjusted, and are amortized utilizing the accounting fair value provided using a Monte Carlo pricing model.

The Corporation offers an Employee Stock Purchase Plan (“ESPP”) to all qualifying employees. The plan qualifies as an ESPP under section 423 of the Internal Revenue Code of 1986. Under the ESPP, eligible employees may enroll in a three month offer period that begins January, April, July, and October of each year. Employees may purchase a limited number of shares of the Corporation’s common stock at 90% of the fair market value on the last day of the offering period. The ESPP is treated as a compensatory plan for purposes of share-based compensation expense.
v3.25.4
Derivative Financial Instruments (Policies)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments

Derivative Instruments. The Corporation uses derivative instruments to protect against the risk of adverse price or interest rate movements on the value of certain assets, liabilities, future cash flows, and economic hedges for written client derivative contracts. Derivative instruments represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash to the other party based on a notional amount and an underlying variable, as specified in the contract, and may be subject to master netting agreements.

Market risk is the risk of loss arising from an adverse change in interest rates, exchange rates, or equity prices. The Corporation’s primary market risk is interest rate risk. Instruments designed to manage interest rate risk include interest rate swaps, interest rate options, and interest rate caps and floors with indices that relate to the pricing of specific assets and liabilities. The nature and volume of the derivative instruments used to manage interest rate risk depend on the level and type of assets and liabilities on the balance

sheet and the risk management strategies for the current and anticipated rate environments. Counterparty risk with respect to derivative instruments occurs when a counterparty to a derivative contract with an unrealized gain fails to perform according to the terms of the agreement. Counterparty risk is managed by limiting the counterparties to highly rated dealers, requiring collateral postings when values are in deficit positions, applying uniform credit standards to all activities with credit risk, and monitoring the size and the maturity structure of the derivative portfolio.

All derivative instruments are to be carried at fair value on the Consolidated Balance Sheets. The accounting for the gain or loss due to changes in the fair value of a derivative instrument depends on whether the derivative instrument qualifies as a hedge. If the derivative instrument does not qualify as a hedge, the gains or losses are reported in earnings when they occur. However, if the derivative instrument qualifies as a hedge, the accounting varies based on the type of risk being hedged. The Corporation utilizes interest rate swaps offered directly to qualified commercial borrowers, which do not qualify for hedge accounting, and therefore, all changes in fair value and gains and losses on these instruments are reported in earnings as they occur. The effects of netting arrangements are disclosed within the Notes of the Consolidated Financial Statements. The Corporation offers interest rate swap products directly to qualified commercial borrowers. The Corporation economically hedges client derivative transactions by entering into offsetting interest rate swap contracts executed with a third party. Derivative transactions executed as part of this program are not considered hedging instruments and are marked-to-market through earnings each period. The derivative contracts have mirror-image terms, which results in the positions’ changes in fair value offsetting through earnings each period. The credit risk and risk of non-performance embedded in the fair value calculations is different between the dealer counterparties and the commercial borrowers which may result in a difference in the changes in the fair value of the mirror-image swaps. The Corporation incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the counterparty’s risk in the fair value measurements. When evaluating the fair value of its derivative contracts for the effects of non-performance and credit risk, the Corporation considers the impact of netting and any applicable credit enhancements such as collateral postings, thresholds and guarantees.

The Corporation also enters into interest rate swaps to manage interest rate risk and reduce the cost of match-funding certain long-term fixed rate loans. These derivative contracts are designated as a cash flow hedge as the receipt of floating interest from the counterparty is used to manage interest rate risk associated with forecasted issuances of wholesale deposits and short-term FHLB advances. The change in fair value of the hedging instrument is recorded in accumulated other comprehensive income.
v3.25.4
Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities

The amortized cost and fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows:

 

 

 

As of December 31, 2025

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair Value

 

 

 

(In Thousands)

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

4,995

 

 

$

—

 

 

$

(94

)

 

$

4,901

 

U.S. government agency securities -
   government-sponsored enterprises

 

 

2,500

 

 

 

—

 

 

 

(186

)

 

 

2,314

 

Municipal securities

 

 

46,993

 

 

 

328

 

 

 

(3,429

)

 

 

43,892

 

Residential mortgage-backed securities -
   government issued

 

 

166,933

 

 

 

1,279

 

 

 

(1,577

)

 

 

166,635

 

Residential mortgage-backed securities -
   government-sponsored enterprises

 

 

168,544

 

 

 

929

 

 

 

(6,930

)

 

 

162,543

 

Commercial mortgage-backed securities -
   government issued

 

 

2,416

 

 

 

—

 

 

 

(302

)

 

 

2,114

 

Commercial mortgage-backed securities -
   government-sponsored enterprises

 

 

42,326

 

 

 

71

 

 

 

(2,709

)

 

 

39,688

 

 

 

$

434,707

 

 

$

2,607

 

 

$

(15,227

)

 

$

422,087

 

 

 

 

 

As of December 31, 2024

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair Value

 

 

 

(In Thousands)

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

4,989

 

 

$

—

 

 

$

(271

)

 

$

4,718

 

U.S. government agency securities -
   government-sponsored enterprises

 

 

3,500

 

 

 

—

 

 

 

(347

)

 

 

3,153

 

Municipal securities

 

 

39,997

 

 

 

—

 

 

 

(5,136

)

 

 

34,861

 

Residential mortgage-backed securities -
   government issued

 

 

125,571

 

 

 

470

 

 

 

(2,818

)

 

 

123,223

 

Residential mortgage-backed securities -
   government-sponsored enterprises

 

 

145,888

 

 

 

234

 

 

 

(11,357

)

 

 

134,765

 

Commercial mortgage-backed securities -
   government issued

 

 

2,665

 

 

 

—

 

 

 

(441

)

 

 

2,224

 

Commercial mortgage-backed securities -
   government-sponsored enterprises

 

 

43,033

 

 

 

24

 

 

 

(4,609

)

 

 

38,448

 

 

 

$

365,643

 

 

$

728

 

 

$

(24,979

)

 

$

341,392

 
Schedule of Held-to-maturity Securities

The amortized cost and fair value of securities held-to-maturity and the corresponding amounts of gross unrecognized gains and losses were as follows:

 

 

 

As of December 31, 2025

 

 

 

Amortized
Cost

 

 

Gross
Unrecognized
Gains

 

 

Gross
Unrecognized
Losses

 

 

Fair Value

 

 

 

(In Thousands)

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Municipal securities

 

$

2,144

 

 

$

—

 

 

$

(3

)

 

$

2,141

 

Residential mortgage-backed securities -
   government issued

 

 

546

 

 

 

—

 

 

 

(26

)

 

 

520

 

Residential mortgage-backed securities -
   government-sponsored enterprises

 

 

518

 

 

 

—

 

 

 

(18

)

 

 

500

 

Commercial mortgage-backed securities -
   government-sponsored enterprises

 

 

2,002

 

 

 

—

 

 

 

(22

)

 

 

1,980

 

 

 

$

5,210

 

 

$

—

 

 

$

(69

)

 

$

5,141

 

 

 

 

As of December 31, 2024

 

 

 

Amortized
Cost

 

 

Gross
Unrecognized
Gains

 

 

Gross
Unrecognized
Losses

 

 

Fair Value

 

 

 

(In Thousands)

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Municipal securities

 

$

3,137

 

 

$

—

 

 

$

(38

)

 

$

3,099

 

Residential mortgage-backed securities -
   government issued

 

 

836

 

 

 

—

 

 

 

(48

)

 

 

788

 

Residential mortgage-backed securities -
   government-sponsored enterprises

 

 

766

 

 

 

—

 

 

 

(42

)

 

 

724

 

Commercial mortgage-backed securities -
   government-sponsored enterprises

 

 

2,002

 

 

 

—

 

 

 

(78

)

 

 

1,924

 

 

 

$

6,741

 

 

$

—

 

 

$

(206

)

 

$

6,535

 
Schedule of Realized Gains and Losses on Sale of Securities

Total proceeds and gross realized gains and losses from sales of securities available-for-sale were as follows:

 

 

 

For the Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(In Thousands)

 

Gross gains

 

$

—

 

 

$

—

 

 

$

68

 

Gross losses

 

 

—

 

 

 

(8

)

 

 

(113

)

Net losses on sale of available-for-sale securities

 

$

—

 

 

$

(8

)

 

$

(45

)

Proceeds from sale of available-for-sale securities

 

$

—

 

 

$

7,533

 

 

$

5,085

 

 
Summary of Amortized Cost and Fair Value by Contractual Maturity

The amortized cost and fair value of securities by contractual maturity at December 31, 2025 are shown below. Actual maturities may differ from contractual maturities because issuers have the right to call or prepay certain obligations with or without call or prepayment penalties.

 

 

 

Available-for-Sale

 

 

Held-to-Maturity

 

 

 

Amortized
Cost

 

 

Fair Value

 

 

Amortized
Cost

 

 

Fair Value

 

 

 

(In Thousands)

 

Due in one year or less

 

$

5,933

 

 

$

5,833

 

 

$

745

 

 

$

744

 

Due in one year through five years

 

 

12,905

 

 

 

12,373

 

 

 

1,399

 

 

 

1,397

 

Due in five through ten years

 

 

9,652

 

 

 

9,109

 

 

 

—

 

 

 

—

 

Due in over ten years

 

 

25,998

 

 

 

23,792

 

 

 

—

 

 

 

—

 

 

 

 

54,488

 

 

 

51,107

 

 

 

2,144

 

 

 

2,141

 

Residential mortgage-backed securities

 

 

335,477

 

 

 

329,178

 

 

 

1,064

 

 

 

1,020

 

Commercial mortgage-backed securities

 

 

44,742

 

 

 

41,802

 

 

 

2,002

 

 

 

1,980

 

 

 

$

434,707

 

 

$

422,087

 

 

$

5,210

 

 

$

5,141

 

 
Summary of Unrealized Loss for Securities Available-For-Sale

A summary of unrealized loss information for securities available-for-sale, categorized by security type and length of time for which the security has been in a continuous unrealized loss position, follows:

 

 

 

As of December 31, 2025

 

 

 

Less than 12 Months

 

 

12 Months or Longer

 

 

Total

 

 

 

Fair Value

 

 

Unrealized
Losses

 

 

Fair Value

 

 

Unrealized
Losses

 

 

Fair Value

 

 

Unrealized
Losses

 

 

 

(In Thousands)

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

—

 

 

$

—

 

 

$

4,901

 

 

$

94

 

 

$

4,901

 

 

$

94

 

U.S. government agency securities -
   government- sponsored enterprises

 

 

—

 

 

 

—

 

 

 

2,314

 

 

 

186

 

 

 

2,314

 

 

 

186

 

Municipal securities

 

 

—

 

 

 

—

 

 

 

34,660

 

 

 

3,429

 

 

 

34,660

 

 

 

3,429

 

Residential mortgage-backed securities -
   government issued

 

 

25,970

 

 

 

85

 

 

 

17,454

 

 

 

1,492

 

 

 

43,424

 

 

 

1,577

 

Residential mortgage-backed securities -
   government-sponsored enterprises

 

 

14,002

 

 

 

73

 

 

 

72,481

 

 

 

6,857

 

 

 

86,483

 

 

 

6,930

 

Commercial mortgage-backed securities -
   government issued

 

 

—

 

 

 

—

 

 

 

2,114

 

 

 

302

 

 

 

2,114

 

 

 

302

 

Commercial mortgage-backed securities -
   government-sponsored enterprises

 

 

5,971

 

 

 

44

 

 

 

27,575

 

 

 

2,665

 

 

 

33,546

 

 

 

2,709

 

 

 

$

45,943

 

 

$

202

 

 

$

161,499

 

 

$

15,025

 

 

$

207,442

 

 

$

15,227

 

 

 

 

As of December 31, 2024

 

 

 

Less than 12 Months

 

 

12 Months or Longer

 

 

Total

 

 

 

Fair Value

 

 

Unrealized
Losses

 

 

Fair Value

 

 

Unrealized
Losses

 

 

Fair Value

 

 

Unrealized
Losses

 

 

 

(In Thousands)

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

—

 

 

$

—

 

 

$

4,718

 

 

$

271

 

 

$

4,718

 

 

$

271

 

U.S. government agency securities -
   government- sponsored enterprises

 

 

—

 

 

 

—

 

 

 

3,153

 

 

 

347

 

 

 

3,153

 

 

 

347

 

Municipal securities

 

 

—

 

 

 

—

 

 

 

34,861

 

 

 

5,136

 

 

 

34,861

 

 

 

5,136

 

Residential mortgage-backed securities -
   government issued

 

 

40,320

 

 

 

374

 

 

 

18,999

 

 

 

2,444

 

 

 

59,319

 

 

 

2,818

 

Residential mortgage-backed securities -
   government-sponsored enterprises

 

 

43,907

 

 

 

995

 

 

 

71,103

 

 

 

10,362

 

 

 

115,010

 

 

 

11,357

 

Commercial mortgage-backed securities -
   government issued

 

 

—

 

 

 

—

 

 

 

2,224

 

 

 

441

 

 

 

2,224

 

 

 

441

 

Commercial mortgage-backed securities -
   government-sponsored enterprises

 

 

10,717

 

 

 

425

 

 

 

26,751

 

 

 

4,184

 

 

 

37,468

 

 

 

4,609

 

 

 

$

94,944

 

 

$

1,794

 

 

$

161,809

 

 

$

23,185

 

 

$

256,753

 

 

$

24,979

 

 
Summary of Unrecognized Loss for Securities Held-To-Maturity

A summary of unrecognized loss information for securities held-to-maturity, categorized by security type and length of time for which the security has been in a continuous unrealized loss position, follows:

 

 

 

As of December 31, 2025

 

 

 

Less than 12 Months

 

 

12 Months or Longer

 

 

Total

 

 

 

Fair Value

 

 

Unrecognized
Losses

 

 

Fair Value

 

 

Unrecognized
Losses

 

 

Fair Value

 

 

Unrecognized
Losses

 

 

 

(In Thousands)

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal securities

 

$

959

 

 

$

1

 

 

$

680

 

 

$

2

 

 

$

1,639

 

 

$

3

 

Residential mortgage-backed
   securities - government issued

 

 

—

 

 

 

—

 

 

 

520

 

 

 

26

 

 

 

520

 

 

 

26

 

Residential mortgage-backed
   securities - government-
   sponsored enterprises

 

 

—

 

 

 

—

 

 

 

500

 

 

 

18

 

 

 

500

 

 

 

18

 

Commercial mortgage-backed
   securities - government-
   sponsored enterprises

 

 

—

 

 

 

—

 

 

 

1,980

 

 

 

22

 

 

 

1,980

 

 

 

22

 

 

 

$

959

 

 

$

1

 

 

$

3,680

 

 

$

68

 

 

$

4,639

 

 

$

69

 

 

 

 

As of December 31, 2024

 

 

 

Less than 12 Months

 

 

12 Months or Longer

 

 

Total

 

 

 

Fair Value

 

 

Unrecognized
Losses

 

 

Fair Value

 

 

Unrecognized
Losses

 

 

Fair Value

 

 

Unrecognized
Losses

 

 

 

(In Thousands)

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal securities

 

$

454

 

 

$

5

 

 

$

2,139

 

 

$

33

 

 

$

2,593

 

 

$

38

 

Residential mortgage-backed
   securities - government issued

 

 

—

 

 

 

—

 

 

 

788

 

 

 

48

 

 

 

788

 

 

 

48

 

Residential mortgage-backed
   securities - government-
   sponsored enterprises

 

 

—

 

 

 

—

 

 

 

724

 

 

 

42

 

 

 

724

 

 

 

42

 

Commercial mortgage-backed
   securities - government-
   sponsored enterprises

 

 

—

 

 

 

—

 

 

 

1,924

 

 

 

78

 

 

 

1,924

 

 

 

78

 

 

 

$

454

 

 

$

5

 

 

$

5,575

 

 

$

201

 

 

$

6,029

 

 

$

206

 
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Loan and Lease Receivables Composition

Loan and lease receivables consist of the following:

 

 

 

December 31,
2025

 

 

December 31,
2024

 

 

 

(In Thousands)

 

Commercial real estate:

 

 

 

 

 

 

Commercial real estate — owner occupied

 

$

293,706

 

 

$

273,397

 

Commercial real estate — non-owner occupied

 

 

885,870

 

 

 

845,298

 

Construction and land development

 

 

248,560

 

 

 

221,086

 

Multi-family

 

 

571,468

 

 

 

530,853

 

1-4 family

 

 

60,661

 

 

 

46,496

 

Total commercial real estate

 

 

2,060,265

 

 

 

1,917,130

 

Commercial and industrial

 

 

1,273,997

 

 

 

1,151,720

 

Consumer and other

 

 

40,965

 

 

 

45,000

 

Total gross loans and leases receivable

 

 

3,375,227

 

 

 

3,113,850

 

Less:

 

 

 

 

 

 

Allowance for credit losses

 

 

35,877

 

 

 

35,785

 

Deferred loan fees and costs, net

 

 

1,986

 

 

 

722

 

Loans and leases receivable, net

 

$

3,337,364

 

 

$

3,077,343

 

 

 
Schedule of Loans Transferred and Purchased

The following table presents loans transferred and/or purchased during the year:

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In Thousands)

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and Land Development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

SBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans transferred to third parties

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

18,864

 

 

$

—

 

 

$

18,864

 

Outstanding balance of loans serviced

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

82,022

 

 

 

—

 

 

 

82,022

 

Ownership of transferred loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

24,919

 

 

 

—

 

 

 

24,919

 

Non-SBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans transferred to third parties

 

$

—

 

 

$

22,146

 

 

$

59,702

 

 

$

4,583

 

 

$

—

 

 

$

24,038

 

 

$

—

 

 

$

110,469

 

Outstanding balance of loans serviced

 

 

12,133

 

 

 

158,579

 

 

 

43,846

 

 

 

151,610

 

 

 

—

 

 

 

19,671

 

 

 

—

 

 

 

385,839

 

Ownership of transferred loans

 

 

6,933

 

 

 

219,426

 

 

 

68,447

 

 

 

137,864

 

 

 

—

 

 

 

24,093

 

 

 

—

 

 

 

456,763

 

Loan participations purchased

 

 

—

 

 

 

—

 

 

 

—

 

 

 

9,774

 

 

 

—

 

 

 

9,695

 

 

 

—

 

 

 

19,469

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In Thousands)

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and Land Development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans transferred to third parties

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

20,670

 

 

$

—

 

 

$

20,670

 

Outstanding balance of loans serviced

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

79,365

 

 

 

—

 

 

 

79,365

 

Ownership of transferred loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

23,916

 

 

 

—

 

 

 

23,916

 

Non-SBA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans transferred to third parties

 

$

—

 

 

$

32,253

 

 

$

74,052

 

 

$

11,682

 

 

$

—

 

 

$

19,982

 

 

$

—

 

 

$

137,969

 

Outstanding balance of loans serviced

 

 

18,449

 

 

 

166,283

 

 

 

41,241

 

 

 

127,479

 

 

 

—

 

 

 

19,616

 

 

 

—

 

 

 

373,068

 

Ownership of transferred loans

 

 

10,286

 

 

 

233,349

 

 

 

29,762

 

 

 

127,702

 

 

 

—

 

 

 

22,607

 

 

 

—

 

 

 

423,706

 

Loan participations purchased

 

 

—

 

 

 

—

 

 

 

5,318

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,318

 
Schedule of Related Party Transactions

Certain of the Corporation’s executive officers, directors, and their related interests are loan clients of the Bank. These loans to related parties are summarized below:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

(In Thousands)

 

Balance at beginning of year

 

$

245

 

 

$

263

 

New loans

 

 

272

 

 

 

381

 

Repayments

 

 

(226

)

 

 

(399

)

Balance at end of year

 

$

291

 

 

$

245

 

 
Net Investment In Direct Financing Leases

The Corporation’s net investment in direct financing leases consists of the following:

 

 

 

December 31,

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

 

(In Thousands)

 

Minimum lease payments receivable

 

$

7,093

 

 

$

8,975

 

Estimated unguaranteed residual values in leased property

 

 

668

 

 

 

632

 

Unearned lease and residual income

 

 

(884

)

 

 

(1,148

)

Investment in commercial direct financing leases

 

$

6,877

 

 

$

8,459

 

 
Summarr of Future Aggregate Maturities of Minimum Lease Payments to Be Received

Future aggregate maturities of minimum lease payments to be received are as follows:

 

(In Thousands)

 

 

 

Maturities during year ended December 31,

 

 

 

2026

 

$

2,640

 

2027

 

 

2,103

 

2028

 

 

1,322

 

2029

 

 

632

 

2030

 

 

229

 

Thereafter

 

 

167

 

 

 

$

7,093

 

 
Financing Receivable by Credit Quality Indicators

The following table illustrates ending balances of the Corporation’s loan and lease portfolio, including non-accrual loans by class of receivable, and considering certain credit quality indicators:

 

December 31, 2025

 

Term Loans Amortized Cost Basis by Origination Year

 

 

 

 

 

 

(In Thousands)

 

2025

 

2024

 

2023

 

2022

 

2021

 

Prior

 

Revolving
Loans
Amortized
Cost Basis

 

Total

 

Category as a % of total portfolio

Commercial real estate —
   owner occupied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$65,752

 

$20,422

 

$39,698

 

$32,186

 

$30,251

 

$92,981

 

$295

 

$281,585

 

95.9%

II

 

—

 

—

 

2,011

 

—

 

—

 

—

 

—

 

2,011

 

0.7%

III

 

—

 

2,197

 

—

 

—

 

—

 

7,913

 

—

 

10,110

 

3.4%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$65,752

 

$22,619

 

$41,709

 

$32,186

 

$30,251

 

$100,894

 

$295

 

$293,706

 

100.0%

Commercial real estate —
   non-owner occupied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$85,103

 

$81,087

 

$108,308

 

$89,226

 

$63,803

 

$392,720

 

$34,236

 

854,483

 

96.4%

II

 

—

 

—

 

—

 

—

 

—

 

6,863

 

—

 

6,863

 

0.8%

III

 

—

 

—

 

—

 

—

 

716

 

23,808

 

—

 

24,524

 

2.8%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$85,103

 

$81,087

 

$108,308

 

$89,226

 

$64,519

 

$423,391

 

$34,236

 

$885,870

 

100.0%

Construction and land
   development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$35,887

 

$73,179

 

$78,264

 

$10,278

 

$91

 

$5,043

 

$25,482

 

$228,224

 

91.8%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

—

 

—

 

5,755

 

—

 

—

 

—

 

—

 

5,755

 

2.3%

IV

 

—

 

—

 

—

 

454

 

8,155

 

5,972

 

—

 

14,581

 

5.9%

Total

 

$35,887

 

$73,179

 

$84,019

 

$10,732

 

$8,246

 

$11,015

 

$25,482

 

$248,560

 

100.0%

Multi-family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$57,113

 

$18,231

 

$103,795

 

$93,280

 

$61,620

 

$211,473

 

$2,644

 

$548,156

 

95.9%

II

 

—

 

—

 

1,530

 

7,309

 

—

 

782

 

—

 

9,621

 

1.7%

III

 

—

 

—

 

—

 

—

 

8,380

 

1,019

 

—

 

9,399

 

1.6%

IV

 

—

 

—

 

1,714

 

—

 

2,578

 

—

 

—

 

4,292

 

0.8%

Total

 

$57,113

 

$18,231

 

$107,039

 

$100,589

 

$72,578

 

$213,274

 

$2,644

 

$571,468

 

100.0%

1-4 family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$18,249

 

$7,043

 

$1,416

 

$4,432

 

$2,036

 

$3,470

 

$24,015

 

$60,661

 

100.0%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$18,249

 

$7,043

 

$1,416

 

$4,432

 

$2,036

 

$3,470

 

$24,015

 

$60,661

 

100.0%

Commercial and industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$240,914

 

$178,507

 

$138,504

 

$52,149

 

$35,514

 

$31,754

 

$452,160

 

$1,129,502

 

88.6%

II

 

568

 

14,119

 

10,997

 

5,948

 

25

 

2,797

 

24,140

 

58,594

 

4.6%

III

 

499

 

8,617

 

10,409

 

4,656

 

787

 

1,745

 

34,206

 

60,919

 

4.8%

IV

 

447

 

1,845

 

3,384

 

7,644

 

302

 

4,083

 

7,277

 

24,982

 

2.0%

Total

 

$242,428

 

$203,088

 

$163,294

 

$70,397

 

$36,628

 

$40,379

 

$517,783

 

$1,273,997

 

100.0%

Consumer and other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$7,790

 

$5,715

 

$4,167

 

$4,926

 

$1,717

 

$10,423

 

$6,227

 

$40,965

 

100.0%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$7,790

 

$5,715

 

$4,167

 

$4,926

 

$1,717

 

$10,423

 

$6,227

 

$40,965

 

100.0%

Total Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$510,808

 

$384,184

 

$474,152

 

$286,477

 

$195,032

 

$747,864

 

$545,059

 

$3,143,576

 

93.1%

II

 

568

 

14,119

 

14,538

 

13,257

 

25

 

10,442

 

24,140

 

77,089

 

2.3%

III

 

499

 

10,814

 

16,164

 

4,656

 

9,883

 

34,485

 

34,206

 

110,707

 

3.3%

IV

 

447

 

1,845

 

5,098

 

8,098

 

11,035

 

10,055

 

7,277

 

43,855

 

1.3%

Total

 

$512,322

 

$410,962

 

$509,952

 

$312,488

 

$215,975

 

$802,846

 

$610,682

 

$3,375,227

 

100.0%

 

 

December 31, 2024

 

Term Loans Amortized Cost Basis by Origination Year

 

 

 

 

 

 

(In Thousands)

 

2024

 

2023

 

2022

 

2021

 

2020

 

Prior

 

Revolving
Loans
Amortized
Cost Basis

 

Total

 

Category as a % of total portfolio

Commercial real estate —
   owner occupied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$26,508

 

$45,066

 

$42,849

 

$34,486

 

$37,078

 

$85,405

 

$447

 

$271,839

 

99.4%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

750

 

—

 

—

 

—

 

—

 

217

 

—

 

967

 

0.4%

IV

 

—

 

—

 

—

 

—

 

—

 

591

 

—

 

591

 

0.2%

Total

 

$27,258

 

$45,066

 

$42,849

 

$34,486

 

$37,078

 

$86,213

 

$447

 

$273,397

 

100.0%

Commercial real estate —
   non-owner occupied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$80,371

 

$85,651

 

$89,181

 

$69,129

 

$85,238

 

$340,802

 

$37,129

 

$787,501

 

93.2%

II

 

—

 

—

 

—

 

—

 

2,150

 

31,720

 

—

 

33,870

 

4.0%

III

 

—

 

638

 

—

 

—

 

—

 

23,289

 

—

 

23,927

 

2.8%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$80,371

 

$86,289

 

$89,181

 

$69,129

 

$87,388

 

$395,811

 

$37,129

 

$845,298

 

100.0%

Construction and land
   development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$36,135

 

$110,437

 

$24,302

 

$1,183

 

$719

 

$5,520

 

$28,205

 

$206,501

 

93.4%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

—

 

—

 

454

 

8,155

 

5,713

 

263

 

—

 

14,585

 

6.6%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$36,135

 

$110,437

 

$24,756

 

$9,338

 

$6,432

 

$5,783

 

$28,205

 

$221,086

 

100.0%

Multi-family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$40,079

 

$102,886

 

$74,753

 

$66,775

 

$97,303

 

$134,331

 

$2,288

 

$518,415

 

97.6%

II

 

—

 

—

 

7,407

 

2,584

 

—

 

1,043

 

—

 

11,034

 

2.1%

III

 

—

 

—

 

—

 

1,404

 

—

 

—

 

—

 

1,404

 

0.3%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$40,079

 

$102,886

 

$82,160

 

$70,763

 

$97,303

 

$135,374

 

$2,288

 

$530,853

 

100.0%

1-4 family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$15,220

 

$4,200

 

$7,005

 

$2,336

 

$2,282

 

$2,178

 

$13,275

 

$46,496

 

100.0%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$15,220

 

$4,200

 

$7,005

 

$2,336

 

$2,282

 

$2,178

 

$13,275

 

$46,496

 

100.0%

Commercial and industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$259,976

 

$213,860

 

$93,119

 

$50,697

 

$23,960

 

$26,038

 

$369,740

 

$1,037,390

 

90.1%

II

 

316

 

2,700

 

2,657

 

—

 

470

 

8

 

7,676

 

13,827

 

1.2%

III

 

4,205

 

8,179

 

3,909

 

2,749

 

2,446

 

5,289

 

45,950

 

72,727

 

6.3%

IV

 

536

 

4,060

 

6,245

 

1,038

 

274

 

2,519

 

13,104

 

27,776

 

2.4%

Total

 

$265,033

 

$228,799

 

$105,930

 

$54,484

 

$27,150

 

$33,854

 

$436,470

 

$1,151,720

 

100.0%

Consumer and other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$6,955

 

$5,244

 

$7,416

 

$2,764

 

$10,994

 

$3,885

 

$7,742

 

$45,000

 

100.0%

II

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

III

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

IV

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

—

 

0.0%

Total

 

$6,955

 

$5,244

 

$7,416

 

$2,764

 

$10,994

 

$3,885

 

$7,742

 

$45,000

 

100.0%

Total Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Category

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I

 

$465,244

 

$567,344

 

$338,625

 

$227,370

 

$257,574

 

$598,159

 

$458,826

 

$2,913,142

 

93.6%

II

 

316

 

2,700

 

10,064

 

2,584

 

2,620

 

32,771

 

7,676

 

58,731

 

1.9%

III

 

4,955

 

8,817

 

4,363

 

12,308

 

8,159

 

29,058

 

45,950

 

113,610

 

3.6%

IV

 

536

 

4,060

 

6,245

 

1,038

 

274

 

3,110

 

13,104

 

28,367

 

0.9%

Total

 

$471,051

 

$582,921

 

$359,297

 

$243,300

 

$268,627

 

$663,098

 

$525,556

 

$3,113,850

 

100.0%

 
Delinquency Aging of Loan and Lease Portfolio by Class of Receivable

The delinquency aging of the loan and lease portfolio by class of receivable was as follows:

 

 

 

December 31, 2025

 

 

 

30-59
Days Past
Due

 

 

60-89
Days Past
Due

 

 

Greater
Than 90
Days Past
Due

 

 

Total Past
Due

 

 

Current

 

 

Total
Loans and
Leases

 

 

 

(Dollars in Thousands)

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

293,706

 

 

$

293,706

 

Non-owner occupied

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

885,870

 

 

 

885,870

 

Construction and land
   development

 

 

14,581

 

 

 

—

 

 

 

—

 

 

 

14,581

 

 

 

233,979

 

 

 

248,560

 

Multi-family

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

571,468

 

 

 

571,468

 

1-4 family

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

60,661

 

 

 

60,661

 

Commercial and industrial

 

 

3,116

 

 

 

963

 

 

 

15,229

 

 

 

19,308

 

 

 

1,254,689

 

 

 

1,273,997

 

Consumer and other

 

 

50

 

 

 

—

 

 

 

—

 

 

 

50

 

 

 

40,915

 

 

 

40,965

 

Total

 

$

17,747

 

 

$

963

 

 

$

15,229

 

 

$

33,939

 

 

$

3,341,288

 

 

$

3,375,227

 

Percent of portfolio

 

 

0.53

%

 

 

0.03

%

 

 

0.45

%

 

 

1.01

%

 

 

98.99

%

 

 

100.00

%

 

 

 

 

December 31, 2024

 

 

 

30-59
Days Past
Due

 

 

60-89
Days Past
Due

 

 

Greater
Than 90
Days Past
Due

 

 

Total Past
Due

 

 

Current

 

 

Total
Loans and
Leases

 

 

 

(Dollars in Thousands)

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner occupied

 

$

1,102

 

 

$

—

 

 

$

—

 

 

$

1,102

 

 

$

272,295

 

 

$

273,397

 

Non-owner occupied

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

845,298

 

 

 

845,298

 

Construction and land
   development

 

 

14,321

 

 

 

263

 

 

 

—

 

 

 

14,584

 

 

 

206,502

 

 

 

221,086

 

Multi-family

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

530,853

 

 

 

530,853

 

1-4 family

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

46,496

 

 

 

46,496

 

Commercial and industrial

 

 

5,405

 

 

 

1,072

 

 

 

18,984

 

 

 

25,461

 

 

 

1,126,259

 

 

 

1,151,720

 

Consumer and other

 

 

—

 

 

 

10

 

 

 

—

 

 

 

10

 

 

 

44,990

 

 

 

45,000

 

Total

 

$

20,828

 

 

$

1,345

 

 

$

18,984

 

 

$

41,157

 

 

$

3,072,693

 

 

$

3,113,850

 

Percent of portfolio

 

 

0.67

%

 

 

0.04

%

 

 

0.61

%

 

 

1.32

%

 

 

98.68

%

 

 

100.00

%
Schedule of Financing Receivables, Non-Performing Status

The following tables provide additional detail on loans on non-accrual status and loans past due over 89 days still accruing as of:

 

 

 

December 31, 2025

 

 

 

Non-accrual
With No
Allowance for
Credit Loss

 

 

Non-accrual
With
Allowance
for Credit
Loss

 

 

Loans Past
Due Over
89 Days
Still Accruing

 

 

 

(In Thousands)

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

Commercial real estate — owner occupied

 

$

—

 

 

$

—

 

 

$

—

 

Commercial real estate — non-owner occupied

 

 

—

 

 

 

—

 

 

 

—

 

Construction and land development

 

 

14,581

 

 

 

—

 

 

 

—

 

Multi-family

 

 

4,292

 

 

 

—

 

 

 

—

 

1-4 family

 

 

—

 

 

 

—

 

 

 

—

 

Total commercial real estate

 

 

18,873

 

 

 

—

 

 

 

—

 

Commercial and industrial

 

 

10,652

 

 

 

14,330

 

 

 

—

 

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

Total non-accrual loans and leases

 

$

29,525

 

 

$

14,330

 

 

$

—

 

 

 

 

December 31, 2024

 

 

 

Non-accrual
With No
Allowance for
Credit Loss

 

 

Non-accrual
With
Allowance
for Credit
Loss

 

 

Loans Past
Due Over
89 Days
Still Accruing

 

 

 

(In Thousands)

 

Commercial real estate:

 

 

 

 

 

 

 

 

 

Commercial real estate — owner occupied

 

$

—

 

 

$

591

 

 

$

—

 

Commercial real estate — non-owner occupied

 

 

—

 

 

 

—

 

 

 

—

 

Construction and land development

 

 

—

 

 

 

—

 

 

 

—

 

Multi-family

 

 

—

 

 

 

—

 

 

 

—

 

1-4 family

 

 

—

 

 

 

—

 

 

 

—

 

Total commercial real estate

 

 

—

 

 

 

591

 

 

 

—

 

Commercial and industrial

 

 

13,125

 

 

 

14,651

 

 

 

—

 

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

Total non-accrual loans and leases

 

$

13,125

 

 

$

15,242

 

 

$

—

 

 

 

 

December 31,
2025

 

 

December 31,
2024

 

Total non-accrual loans and leases to gross loans and leases

 

 

1.30

%

 

 

0.91

%

Allowance for credit losses to gross loans and leases

 

 

1.12

 

 

 

1.20

 

Allowance for credit losses to non-accrual loans and leases

 

 

85.95

 

 

 

131.38

 
Schedule of Collateral Dependent Loans

The following table presents the amortized cost basis of the non-accrual, collateral-dependent commercial and industrial loans as of:

 

 

 

December 31,
2025

 

 

December 31,
2024

 

 

 

(In Thousands)

 

Equipment

 

$

14,615

 

 

$

12,178

 

Real Estate

 

 

21,595

 

 

 

7,724

 

Accounts Receivable

 

 

7,277

 

 

 

6,570

 

Other

 

 

473

 

 

 

2,053

 

Total

 

$

43,960

 

 

$

28,525

 
Summary of Financial Difficulty and Modification Type

The following table presents the amortized cost basis of loans at December 31, 2025 that were both experiencing financial difficulty and modified during the years ended December 31, 2025 and 2024, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized costs basis of each class of financing receivable is also presented below.

 

 

 

For the Year Ended December 31, 2025

 

 

Principal
Forgiveness

 

Payment
Delay

 

Term
Extension

 

Interest Rate
Reduction

 

Combination Term Extension and Payment Delay

 

Total

 

Total Class
of Financing
Receivable

 

 

(In Thousands)

 

 

Commercial real estate

 

$—

 

$—

 

$—

 

$—

 

$—

 

$—

 

0.00%

Commercial and industrial

 

—

 

—

 

—

 

294

 

5,882

 

6,176

 

0.48

Total

 

$—

 

$—

 

$—

 

$294

 

$5,882

 

$6,176

 

0.18%

 

 

 

For the Year Ended December 31, 2024

 

 

Principal
Forgiveness

 

Payment
Delay

 

Term
Extension

 

Interest Rate
Reduction

 

Combination Term Extension and Payment Delay

 

Total

 

Total Class
of Financing
Receivable

 

 

(In Thousands)

 

 

Commercial real estate

 

$—

 

$5,901

 

$—

 

$—

 

$—

 

$5,901

 

0.31%

Commercial and industrial

 

—

 

7,108

 

455

 

—

 

550

 

8,113

 

0.70

Total

 

$—

 

$13,009

 

$455

 

$—

 

$550

 

$14,014

 

0.45%

 

The Corporation closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the performance of such loans that have been modified in the last 12 months:

 

 

 

For the Year Ended December 31, 2025

 

 

 

30-59
Days Past
Due

 

 

60-89
Days Past
Due

 

 

Greater
Than 90
Days Past
Due

 

 

Total Past
Due

 

 

 

(Dollars in Thousands)

 

Commercial real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial and industrial

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

For the Year Ended December 31, 2024

 

 

 

30-59
Days Past
Due

 

 

60-89
Days Past
Due

 

 

Greater
Than 90
Days Past
Due

 

 

Total Past
Due

 

 

 

(Dollars in Thousands)

 

Commercial real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial and industrial

 

 

—

 

 

 

—

 

 

 

410

 

 

 

410

 

Total

 

$

—

 

 

$

—

 

 

$

410

 

 

$

410

 

 

The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the years ended December 31, 2025 and 2024:

 

 

 

For the Year Ended December 31, 2025

 

(Dollars in Thousands)

 

Principal
Forgiveness

 

 

Weighted
Average
Interest Rate
Reduction

 

 

Weighted
Average Term
Extension
(years)

 

 

Weighted
Average
Payment Delay
(years)

 

Commercial real estate

 

$

—

 

 

 

0.00

%

 

 

0.00

 

 

 

0.00

 

Commercial and industrial

 

 

—

 

 

 

2.25

 

 

 

0.50

 

 

 

0.50

 

Total

 

$

—

 

 

 

2.25

%

 

 

0.50

 

 

 

0.50

 

 

 

 

For the Year Ended December 31, 2024

 

(Dollars in Thousands)

 

Principal
Forgiveness

 

 

Weighted
Average
Interest Rate
Reduction

 

 

Weighted
Average Term
Extension
(years)

 

 

Weighted
Average
Payment Delay
(years)

 

Commercial real estate

 

$

—

 

 

 

0.00

%

 

 

0.00

 

 

 

1.17

 

Commercial and industrial

 

 

—

 

 

 

0.00

 

 

 

0.78

 

 

 

0.73

 

Total

 

$

—

 

 

 

0.00

%

 

 

0.78

 

 

 

1.90

 
Schedule of Amortized Cost Basis of Loans That Had Payment Default

The following table presents the amortized cost basis of loans that had a payment default during the years ended December 31, 2025 and 2024 and were modified in the 12 months prior to that default to borrowers experience financial difficulty:

 

 

 

For the Year Ended December 31, 2025

 

 

 

Principal
Forgiveness

 

 

Payment Delay

 

 

Term Extension

 

 

Interest Rate
Reduction

 

 

 

(In Thousands)

 

Commercial real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial and industrial

 

 

—

 

 

 

—

 

 

 

397

 

 

 

—

 

Total

 

$

—

 

 

$

—

 

 

$

397

 

 

$

—

 

 

 

 

For the Year Ended December 31, 2024

 

 

 

Principal
Forgiveness

 

 

Payment Delay

 

 

Term Extension

 

 

Interest Rate
Reduction

 

 

 

(In Thousands)

 

Commercial real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial and industrial

 

 

—

 

 

 

753

 

 

 

—

 

 

 

—

 

Total

 

$

—

 

 

$

753

 

 

$

—

 

 

$

—

 
Summary of Activity in Allowance for Credit Losses by Portfolio Segment

A summary of the activity in the allowance for credit losses by portfolio segment is as follows:

 

 

 

As of and for the Year Ended December 31, 2025

 

 

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and Land Development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

 

 

(In Thousands)

 

Beginning balance

 

$

1,629

 

 

$

5,892

 

 

$

2,826

 

 

$

4,613

 

 

$

523

 

 

$

21,470

 

 

$

315

 

 

$

37,268

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(9,651

)

 

 

(14

)

 

 

(9,665

)

Recoveries

 

 

2

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

25

 

 

 

1,407

 

 

 

—

 

 

 

1,434

 

Net recoveries (charge-offs)

 

 

2

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

25

 

 

 

(8,244

)

 

 

(14

)

 

 

(8,231

)

Provision for credit losses

 

 

277

 

 

 

489

 

 

 

(74

)

 

 

313

 

 

 

9

 

 

 

7,528

 

 

 

113

 

 

 

8,655

 

Ending balance

 

$

1,908

 

 

$

6,381

 

 

$

2,752

 

 

$

4,926

 

 

$

557

 

 

$

20,754

 

 

$

414

 

 

$

37,692

 

Components:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses on
   loans

 

$

1,902

 

 

$

6,306

 

 

$

1,871

 

 

$

4,915

 

 

$

521

 

 

$

19,989

 

 

$

373

 

 

$

35,877

 

Allowance for credit losses on
   unfunded credit commitments

 

 

6

 

 

 

75

 

 

 

881

 

 

 

11

 

 

 

36

 

 

 

765

 

 

 

41

 

 

 

1,815

 

Total ACL

 

$

1,908

 

 

$

6,381

 

 

$

2,752

 

 

$

4,926

 

 

$

557

 

 

$

20,754

 

 

$

414

 

 

$

37,692

 

 

 

 

As of and for the Year Ended December 31, 2024

 

 

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and Land Development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

 

 

(In Thousands)

 

Beginning balance

 

$

1,540

 

 

$

5,636

 

 

$

2,125

 

 

$

3,571

 

 

$

266

 

 

$

19,408

 

 

$

451

 

 

$

32,997

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(5,233

)

 

 

(22

)

 

 

(5,255

)

Recoveries

 

 

5

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

132

 

 

 

541

 

 

 

21

 

 

 

699

 

Net recoveries (charge-offs)

 

 

5

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

132

 

 

 

(4,692

)

 

 

(1

)

 

 

(4,556

)

Provision for credit losses

 

 

84

 

 

 

256

 

 

 

701

 

 

 

1,042

 

 

 

125

 

 

 

6,754

 

 

 

(135

)

 

 

8,827

 

Ending balance

 

$

1,629

 

 

$

5,892

 

 

$

2,826

 

 

$

4,613

 

 

$

523

 

 

$

21,470

 

 

$

315

 

 

$

37,268

 

Components:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses on
   loans

 

$

1,615

 

 

$

5,843

 

 

$

2,022

 

 

$

4,597

 

 

$

492

 

 

$

20,934

 

 

$

282

 

 

$

35,785

 

Allowance for credit losses on
   unfunded credit commitments

 

 

14

 

 

 

49

 

 

 

804

 

 

 

16

 

 

 

31

 

 

 

536

 

 

 

33

 

 

 

1,483

 

Total ACL

 

$

1,629

 

 

$

5,892

 

 

$

2,826

 

 

$

4,613

 

 

$

523

 

 

$

21,470

 

 

$

315

 

 

$

37,268

 

 

 

 

 

As of and for the Year Ended December 31, 2023

 

 

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and Land Development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

 

 

(In Thousands)

 

Beginning balance

 

$

1,766

 

 

$

5,108

 

 

$

1,646

 

 

$

2,634

 

 

$

207

 

 

$

12,403

 

 

$

466

 

 

$

24,230

 

Impact of adopting ASC 326

 

 

(204

)

 

 

(242

)

 

 

796

 

 

 

(386

)

 

 

(45

)

 

 

1,873

 

 

 

26

 

 

 

1,818

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1,781

)

 

 

—

 

 

 

(1,781

)

Recoveries

 

 

9

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

40

 

 

 

478

 

 

 

20

 

 

 

548

 

Net recoveries (charge-offs)

 

 

9

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

40

 

 

 

(1,303

)

 

 

20

 

 

 

(1,233

)

Provision for credit losses

 

 

(31

)

 

 

769

 

 

 

(317

)

 

 

1,323

 

 

 

64

 

 

 

6,435

 

 

 

(61

)

 

 

8,182

 

Ending balance

 

$

1,540

 

 

$

5,636

 

 

$

2,125

 

 

$

3,571

 

 

$

266

 

 

$

19,408

 

 

$

451

 

 

$

32,997

 

Components:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses on
   loans

 

$

1,525

 

 

$

5,596

 

 

$

1,244

 

 

$

3,562

 

 

$

243

 

 

$

18,710

 

 

$

395

 

 

$

31,275

 

Allowance for credit losses on
   unfunded credit commitments

 

 

15

 

 

 

40

 

 

 

881

 

 

 

9

 

 

 

23

 

 

 

698

 

 

 

56

 

 

 

1,722

 

Total ACL

 

$

1,540

 

 

$

5,636

 

 

$

2,125

 

 

$

3,571

 

 

$

266

 

 

$

19,408

 

 

$

451

 

 

$

32,997

 
Allowance for Credit Losses and Balances by Type of Allowance Methodology

The following tables provide information regarding the allowance for credit losses and balances by type of allowance methodology.

 

 

 

As of December 31, 2025

 

 

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and land development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

 

 

(In Thousands)

 

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated for
   credit losses

 

$

1,902

 

 

$

6,306

 

 

$

1,871

 

 

$

4,915

 

 

$

521

 

 

$

14,439

 

 

$

373

 

 

$

30,327

 

Individually evaluated for
   credit loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,550

 

 

 

—

 

 

 

5,550

 

Total

 

$

1,902

 

 

$

6,306

 

 

$

1,871

 

 

$

4,915

 

 

$

521

 

 

$

19,989

 

 

$

373

 

 

$

35,877

 

Loans and lease receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated for
   credit losses

 

$

293,706

 

 

$

885,870

 

 

$

233,979

 

 

$

567,176

 

 

$

60,661

 

 

$

1,249,015

 

 

$

40,965

 

 

$

3,331,372

 

Individually evaluated for
   credit loss

 

 

—

 

 

 

—

 

 

 

14,581

 

 

 

4,292

 

 

 

—

 

 

 

24,982

 

 

 

—

 

 

 

43,855

 

Total

 

$

293,706

 

 

$

885,870

 

 

$

248,560

 

 

$

571,468

 

 

$

60,661

 

 

$

1,273,997

 

 

$

40,965

 

 

$

3,375,227

 

 

 

 

As of December 31, 2024

 

 

 

Owner
Occupied

 

 

Non-Owner
Occupied

 

 

Construction and land development

 

 

Multi-
Family

 

 

1-4 Family

 

 

Commercial
and
Industrial

 

 

Consumer
and Other

 

 

Total

 

 

 

(In Thousands)

 

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated for
   credit losses

 

$

1,615

 

 

$

5,843

 

 

$

2,022

 

 

$

4,597

 

 

$

492

 

 

$

12,016

 

 

$

282

 

 

$

26,867

 

Individually evaluated for
   credit loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8,918

 

 

 

—

 

 

 

8,918

 

Total

 

$

1,615

 

 

$

5,843

 

 

$

2,022

 

 

$

4,597

 

 

$

492

 

 

$

20,934

 

 

$

282

 

 

$

35,785

 

Loans and lease receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated for
   credit losses

 

$

272,806

 

 

$

845,298

 

 

$

221,086

 

 

$

530,853

 

 

$

46,496

 

 

$

1,123,944

 

 

$

45,000

 

 

$

3,085,483

 

Individually evaluated for
   credit loss

 

 

591

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

27,776

 

 

 

—

 

 

 

28,367

 

Total

 

$

273,397

 

 

$

845,298

 

 

$

221,086

 

 

$

530,853

 

 

$

46,496

 

 

$

1,151,720

 

 

$

45,000

 

 

$

3,113,850

 
v3.25.4
Premises and Equipment (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Summary of Premises and Equipment

A summary of premises and equipment was as follows:

 

 

As of December 31,

 

 

2025

 

 

2024

 

 

(In Thousands)

 

Leasehold improvements

 

$

5,572

 

 

$

5,572

 

Furniture and equipment

 

 

10,068

 

 

 

9,480

 

Total premises and equipment

 

 

15,640

 

 

 

15,052

 

Less: accumulated depreciation

 

 

(10,971

)

 

 

(9,825

)

Total premises and equipment, net

 

$

4,669

 

 

$

5,227

 

 
v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Components of Lease expense

The components of total lease expense were as follows:

 

 

 

For the Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(In Thousands)

 

Operating lease cost

 

$

1,342

 

 

$

1,366

 

 

$

1,411

 

Short-term lease cost

 

 

171

 

 

 

140

 

 

 

200

 

Variable lease cost

 

 

545

 

 

 

572

 

 

 

576

 

Less: sublease income

 

 

—

 

 

 

—

 

 

 

(75

)

Total lease cost, net

 

$

2,058

 

 

$

2,078

 

 

$

2,112

 
Operating Lease Quantitative Information

Quantitative information regarding the Corporation’s operating leases was as follows:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

December 31, 2023

 

Weighted-average remaining lease term (in years)

 

 

6.00

 

 

 

6.93

 

 

 

7.70

 

Weighted-average discount rate

 

 

4.04

%

 

 

3.37

%

 

 

3.61

%

 
Maturity of Operating Lease Liabilities

The following maturity analysis shows the undiscounted cash flows due on the Corporation’s operating lease liabilities:

 

(In Thousands)

 

 

 

2026

 

$

1,623

 

2027

 

 

1,647

 

2028

 

 

1,285

 

2029

 

 

933

 

2030

 

 

841

 

Thereafter

 

 

2,001

 

Total undiscounted cash flows

 

 

8,330

 

Discount on cash flows

 

 

(969

)

Total lease liability

 

$

7,361

 
v3.25.4
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Servicing Asset and Related Valuation Allowance

Activity in the Corporation's servicing asset and related valuation allowance is as follows:

 

 

For the Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(In Thousands)

 

Loan Servicing Rights:

 

 

 

 

 

 

 

 

 

Carrying amount, net, beginning of year

 

$

1,245

 

 

$

1,356

 

 

$

1,492

 

Additions

 

 

400

 

 

 

390

 

 

 

437

 

Amortization

 

 

(297

)

 

 

(537

)

 

 

(500

)

Change in valuation allowance

 

 

(31

)

 

 

36

 

 

 

(73

)

Carrying amount, net, end of year

 

$

1,317

 

 

$

1,245

 

 

$

1,356

 

 

 

 

 

 

 

 

 

 

 

Valuation Allowance:

 

 

 

 

 

 

 

 

 

Beginning of year

 

$

52

 

 

$

88

 

 

$

15

 

Change in valuation allowance

 

 

31

 

 

 

(36

)

 

 

73

 

End of year

 

$

83

 

 

$

52

 

 

$

88

 
v3.25.4
Other Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Summary of Investment In and Unfunded Commitments

Our investment in and unfunded commitments to these partnerships are as follows:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

Investment:

 

(In Thousands)

 

Low-Income Housing Tax Credit

 

$

48,472

 

 

$

40,259

 

Small Business Investment Company

 

 

14,797

 

 

 

12,949

 

Other Limited Partnerships

 

 

3,128

 

 

 

1,731

 

Historic Rehabilitation Tax Credit

 

 

1,970

 

 

 

4,133

 

Total limited partnership investments

 

$

68,367

 

 

$

59,072

 

Unfunded commitment:

 

 

 

 

 

 

Small Business Investment Company

 

$

10,973

 

 

$

8,857

 

Other Limited Partnerships

 

 

1,542

 

 

 

1,233

 

Total limited partnership commitments

 

$

12,515

 

 

$

10,090

 
Summary of Accrued Interest Receivable and Other Assets

A summary of accrued interest receivable and other assets was as follows:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

(In Thousands)

 

Accrued interest receivable

 

$

13,100

 

 

$

12,879

 

Net deferred tax asset

 

 

13,176

 

 

 

12,599

 

Investment in limited partnerships

 

 

68,367

 

 

 

59,072

 

Prepaid expenses

 

 

4,791

 

 

 

4,221

 

Other assets

 

 

8,038

 

 

 

10,288

 

Total accrued interest receivable and other assets

 

$

107,472

 

 

$

99,059

 

 
v3.25.4
Deposits (Tables)
 12 Months Ended
Dec. 31, 2025
Deposits [Abstract]  
Schedule of Deposits Composition

The composition of deposits is shown below. Average balances represent year-to-date averages.

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

Balance

 

 

Average
Balance

 

 

Balance

 

 

Average
Balance

 

 

 

(Dollars in Thousands)

 

Non-interest-bearing transaction accounts

 

$

378,770

 

 

$

419,691

 

 

$

436,111

 

 

$

441,313

 

Interest-bearing transaction accounts

 

 

1,103,696

 

 

 

1,018,736

 

 

 

965,637

 

 

 

884,321

 

Money market accounts

 

 

905,773

 

 

 

856,554

 

 

 

809,695

 

 

 

815,603

 

Certificates of deposit

 

 

284,764

 

 

 

236,848

 

 

 

184,986

 

 

 

237,228

 

Wholesale deposits

 

 

707,412

 

 

 

737,253

 

 

 

710,711

 

 

 

515,196

 

Total deposits

 

$

3,380,415

 

 

$

3,269,082

 

 

$

3,107,140

 

 

$

2,893,661

 
Time Deposit by Maturity

A summary of annual maturities of core and wholesale certificates of deposit at December 31, 2025 is as follows:

 

(In Thousands)

 

 

 

Maturities during the year ended December 31,

 

 

 

2026

 

$

635,641

 

2027

 

 

127,620

 

2028

 

 

31,279

 

2029

 

 

18,462

 

2030

 

 

7,635

 

Thereafter

 

 

1,270

 

 

 

$

821,907

 
v3.25.4
FHLB Advances, Other Borrowings and Subordinated Notes and Debentures (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Composition of Borrowed Funds

The composition of borrowed funds is shown below. Average balances represent year-to-date averages.

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

Balance

 

 

Weighted
Average
Balance

 

 

Weighted
Average
Rate

 

 

Balance

 

 

Weighted
Average
Balance

 

 

Weighted
Average
Rate

 

 

 

(Dollars in Thousands)

 

FHLB advances

 

$

197,246

 

 

$

246,486

 

 

 

3.20

%

 

$

265,350

 

 

$

282,437

 

 

 

2.73

%

Line of credit

 

 

—

 

 

 

1

 

 

 

4.25

 

 

 

—

 

 

 

1,229

 

 

 

8.03

 

Other borrowings

 

 

—

 

 

 

4

 

 

 

—

 

 

 

10

 

 

 

10

 

 

 

—

 

Subordinated notes and debentures

 

 

54,805

 

 

 

54,742

 

 

 

6.43

 

 

 

54,689

 

 

 

49,833

 

 

 

6.36

 

 

 

$

252,051

 

 

$

301,233

 

 

 

3.79

 

 

$

320,049

 

 

$

333,509

 

 

 

3.30

 

 
Summary of Annual Maturities of Borrowing

A summary of annual maturities of borrowings at December 31, 2025 is as follows:

 

(In Thousands)

 

 

 

Maturities during the year ended December 31,

 

 

 

2026

 

$

125,234

 

2027

 

 

10,000

 

2028

 

 

10,450

 

2029

 

 

23,929

 

2030

 

 

20,000

 

Thereafter

 

 

62,438

 

 

 

$

252,051

 
v3.25.4
Regulatory Capital (Tables)
 12 Months Ended
Dec. 31, 2025
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]  
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations The following tables summarize both the Corporation’s and the Bank’s capital ratios and the ratios required by their federal regulators:

 

 

 

As of December 31, 2025

 

 

 

Actual (1)

 

 

Minimum Required
for Capital
Adequacy Purposes

 

 

For Capital
Adequacy Purposes
Plus Capital
Conservation Buffer

 

 

Minimum Required
to Be Well
Capitalized Under
Prompt Corrective
Action
Requirements

 

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

 

(Dollars in Thousands)

 

Total capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

463,447

 

 

 

12.24

%

$

302,917

 

 

 

8.00

%

$

397,578

 

 

 

10.50

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

460,423

 

 

 

12.16

 

 

 

302,929

 

 

 

8.00

 

 

 

397,594

 

 

 

10.50

 

 

$

378,661

 

 

 

10.00

%

Tier 1 capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

370,786

 

 

 

9.79

%

 

$

227,188

 

 

 

6.00

%

 

$

321,849

 

 

 

8.50

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

422,567

 

 

 

11.16

 

 

 

227,197

 

 

 

6.00

 

 

 

321,862

 

 

 

8.50

 

 

$

302,929

 

 

 

8.00

%

Common equity tier 1 capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

358,794

 

 

 

9.48

%

 

$

170,391

 

 

 

4.50

%

 

$

265,052

 

 

 

7.00

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

422,567

 

 

 

11.16

 

 

 

170,398

 

 

 

4.50

 

 

 

265,063

 

 

 

7.00

 

 

$

246,130

 

 

 

6.50

%

Tier 1 leverage capital
   (to adjusted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

370,786

 

 

 

8.86

%

 

$

167,376

 

 

 

4.00

%

 

$

167,376

 

 

 

4.00

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

422,567

 

 

 

10.11

 

 

 

167,237

 

 

 

4.00

 

 

 

167,237

 

 

 

4.00

 

 

$

209,046

 

 

 

5.00

%

 

 

 

 

As of December 31, 2024

 

 

 

Actual (1)

 

 

Minimum Required
for Capital
Adequacy Purposes

 

 

For Capital
Adequacy Purposes
Plus Capital
Conservation Buffer

 

 

Minimum Required
to Be Well
Capitalized Under
Prompt Corrective
Action
Requirements

 

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

 

(Dollars in Thousands)

 

Total capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

421,639

 

 

 

12.08

%

 

$

279,330

 

 

 

8.00

%

 

$

366,621

 

 

 

10.50

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

417,965

 

 

 

11.97

 

 

 

279,342

 

 

 

8.00

 

 

 

366,626

 

 

 

10.50

 

 

$

349,177

 

 

 

10.00

%

Tier 1 capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

329,796

 

 

 

9.45

%

 

$

209,498

 

 

 

6.00

%

 

$

296,788

 

 

 

8.50

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

380,811

 

 

 

10.91

 

 

 

209,506

 

 

 

6.00

 

 

 

296,801

 

 

 

8.50

 

 

$

279,342

 

 

 

8.00

%

Common equity tier 1 capital
   (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

317,804

 

 

 

9.10

%

 

$

157,123

 

 

 

4.50

%

 

$

244,414

 

 

 

7.00

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

380,811

 

 

 

10.91

 

 

 

157,130

 

 

 

4.50

 

 

 

244,424

 

 

 

7.00

 

 

$

226,965

 

 

 

6.50

%

Tier 1 leverage capital
   (to adjusted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

$

329,796

 

 

 

8.78

%

 

$

150,256

 

 

 

4.00

%

 

$

150,256

 

 

 

4.00

%

 

N/A

 

 

N/A

 

First Business Bank

 

 

380,811

 

 

 

10.14

 

 

 

150,207

 

 

 

4.00

 

 

 

150,207

 

 

 

4.00

 

 

$

187,759

 

 

 

5.00

%

 

(1)
2025 and 2024 capital amounts include $337,000 and $676,000, respectively, of additional stockholders’ equity as elected by the Corporation and permitted by federal banking regulatory agencies related to the adoption of ASC 326. Risk-weighted assets were also adjusted accordingly.
Reconciliation of Stockholders' Equity to Federal Regulatory Capital

The following table reconciles stockholders’ equity to federal regulatory capital at December 31, 2025 and 2024, respectively:

 

 

As of December 31,

 

 

2025

 

 

2024

 

 

(In Thousands)

 

Stockholders’ equity of the Corporation

 

$

371,585

 

 

$

328,589

 

Net unrealized and accumulated losses on specific items

 

 

9,740

 

 

 

11,425

 

Disallowed servicing assets

 

 

(505

)

 

 

(514

)

Disallowed goodwill and other intangibles

 

 

(10,371

)

 

 

(10,380

)

ASC 326 Phase-in

 

 

337

 

 

 

676

 

Tier 1 capital

 

 

370,786

 

 

 

329,796

 

Allowable general valuation allowances and subordinated debt

 

 

92,661

 

 

 

91,843

 

Total capital

 

$

463,447

 

 

$

421,639

 
v3.25.4
Earnings Per Common Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Summary of Earnings Per Common Share

 

 

For the Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(Dollars in Thousands, Except Share Data)

 

Basic earnings per common share

 

 

 

 

 

 

 

 

 

Net income

 

$

50,319

 

 

$

44,245

 

 

$

37,027

 

Less: preferred stock dividends

 

 

875

 

 

 

875

 

 

 

875

 

Less: earnings allocated to participating securities

 

 

953

 

 

 

1,033

 

 

 

938

 

Basic earnings allocated to common shareholders

 

$

48,491

 

 

$

42,337

 

 

$

35,214

 

Weighted-average common shares outstanding,
   excluding participating securities

 

 

8,158,208

 

 

 

8,148,259

 

 

 

8,131,251

 

Basic earnings per common share

 

$

5.94

 

 

$

5.20

 

 

$

4.33

 

Diluted earnings per common share

 

 

 

 

 

 

 

 

 

Earnings allocated to common shareholders, diluted

 

$

48,491

 

 

$

42,337

 

 

$

35,214

 

Weighted-average diluted common shares outstanding,
   excluding participating securities

 

 

8,158,208

 

 

 

8,148,259

 

 

 

8,131,251

 

Diluted earnings per common share

 

$

5.94

 

 

$

5.20

 

 

$

4.33

 
v3.25.4
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Restricted Stock Activity

Restricted stock activity for the year ended December 31, 2024 and the year ended December 31, 2025 was as follows:

 

 

 

RSA

 

 

Weighted
Average
Grant Price

 

 

PRSU

 

 

Weighted
Average
Grant Price

 

 

RSU

 

 

Weighted
Average
Grant Price

 

 

Total

 

 

Weighted
Average
Grant Price

 

Nonvested balance as of
   January 1, 2023

 

 

133,317

 

 

$

27.95

 

 

 

57,435

 

 

$

32.89

 

 

 

6,105

 

 

$

25.92

 

 

 

196,857

 

 

$

29.32

 

Granted (1)

 

 

—

 

 

 

—

 

 

 

34,840

 

 

 

35.79

 

 

 

54,955

 

 

 

34.43

 

 

 

89,795

 

 

 

34.96

 

Vested

 

 

(56,931

)

 

 

27.03

 

 

 

(36,120

)

 

 

31.31

 

 

 

(3,253

)

 

 

26.06

 

 

 

(96,304

)

 

 

28.60

 

Forfeited

 

 

(4,435

)

 

 

30.20

 

 

 

—

 

 

 

—

 

 

 

(820

)

 

 

36.42

 

 

 

(5,255

)

 

 

31.17

 

Nonvested balance as of
   December 31, 2023

 

 

71,951

 

 

$

28.53

 

 

 

56,155

 

 

$

35.70

 

 

 

56,987

 

 

$

33.97

 

 

 

185,093

 

 

$

32.38

 

Granted (1)

 

 

—

 

 

 

—

 

 

 

27,614

 

 

 

34.76

 

 

 

65,717

 

 

 

30.43

 

 

 

93,331

 

 

 

31.71

 

Vested

 

 

(35,131

)

 

 

26.86

 

 

 

(34,139

)

 

 

25.43

 

 

 

(33,716

)

 

 

21.25

 

 

 

(102,986

)

 

 

24.57

 

Forfeited

 

 

(7,924

)

 

 

29.75

 

 

 

—

 

 

 

—

 

 

 

(8,827

)

 

 

36.25

 

 

 

(16,751

)

 

 

33.18

 

Nonvested balance as of
   December 31, 2024

 

 

28,896

 

 

$

30.09

 

 

 

49,630

 

 

$

42.24

 

 

 

80,161

 

 

$

36.04

 

 

 

158,687

 

 

$

36.77

 

Granted (1)

 

 

—

 

 

 

—

 

 

 

12,195

 

 

 

63.61

 

 

 

45,789

 

 

 

51.39

 

 

 

57,984

 

 

 

53.92

 

Vested

 

 

(20,280

)

 

 

28.74

 

 

 

(15,825

)

 

 

42.70

 

 

 

(32,376

)

 

 

37.56

 

 

 

(68,481

)

 

 

37.21

 

Forfeited

 

 

(976

)

 

 

33.60

 

 

 

—

 

 

 

—

 

 

 

(2,468

)

 

 

41.48

 

 

 

(3,444

)

 

 

40.79

 

Nonvested balance as of
   December 31, 2025

 

 

7,640

 

 

$

33.76

 

 

 

46,000

 

 

$

47.31

 

 

 

91,106

 

 

$

43.03

 

 

 

144,746

 

 

$

43.87

 

Unrecognized compensation
   cost (in thousands)

 

$

47

 

 

 

 

 

$

944

 

 

 

 

 

$

2,822

 

 

 

 

 

$

3,813

 

 

 

 

Weighted average remaining
   recognition period (in years)

 

 

0.26

 

 

 

 

 

 

1.67

 

 

 

 

 

 

2.10

 

 

 

 

 

 

2.06

 

 

 

 

 

(1)
The number of restricted shares/units shown includes the shares that would be granted if the target level of performance is achieved related to the PRSU. The number of shares actually issued may vary. During the year ended December 31, 2025, an additional 13,427 were issued related to actual performance results of previously granted awards.
Share-based Payment Arrangement, Expensed and Capitalized, Amount

Share-based compensation expense related to restricted stock and ESPP included in the Consolidated Statements of Income was as follows:

 

 

 

For the Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(In Thousands)

 

Share-based compensation expense

 

$

2,800

 

 

$

2,785

 

 

$

2,977

 
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense

Income tax expense consists of the following:

 

 

For the Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(In Thousands)

 

Income from continuing operations before income tax expense (benefit) (1)

 

$

60,453

 

 

$

51,150

 

 

$

47,139

 

 

 

 

 

 

 

 

 

 

 

Income tax expense from continuing operations

 

 

 

 

 

 

 

 

 

Current tax expense

 

 

 

 

 

 

 

 

 

Federal

 

$

10,263

 

 

$

8,783

 

 

$

7,759

 

State

 

 

1,428

 

 

 

1,635

 

 

 

233

 

Total current tax expense

 

 

11,691

 

 

 

10,418

 

 

 

7,992

 

Deferred tax expense (benefit)

 

 

 

 

 

 

 

 

 

Federal

 

 

(1,608

)

 

 

(1,263

)

 

 

(716

)

State

 

 

51

 

 

 

(2,250

)

 

 

2,836

 

Total deferred tax (benefit) expense

 

 

(1,557

)

 

 

(3,513

)

 

 

2,120

 

Total income tax expense

 

$

10,134

 

 

$

6,905

 

 

$

10,112

 
(1)
No foreign activity.
Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes differs from that computed at the federal statutory corporate tax rate as follows:

 

 

Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(Dollars in Thousands)

 

Tax expense at statutory federal rate of 21%

 

$

12,695

 

 

 

21.0

%

 

$

10,741

 

 

 

21.0

%

 

$

9,899

 

 

21.0

%

State income tax, net of federal effect (1)

 

 

1,204

 

 

 

2.0

%

 

 

(447

)

 

 

-0.9

%

 

 

2,514

 

 

5.3

%

Tax credits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Low-income housing tax credits (2)

 

 

(1,760

)

 

 

-2.9

%

 

 

(1,451

)

 

 

-2.8

%

 

 

(1,151

)

 

-2.4

%

Other

 

 

(329

)

 

 

-0.5

%

 

 

(336

)

 

 

-0.7

%

 

 

—

 

 

0.0

%

Nontaxable or nondeductible items

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt security and loan income, net of TEFRA adjustment

 

 

(1,186

)

 

 

-2.0

%

 

 

(1,201

)

 

 

-2.3

%

 

 

(856

)

 

-1.8

%

Other

 

 

(453

)

 

 

-0.7

%

 

 

(491

)

 

 

-1.0

%

 

 

(124

)

 

-0.3

%

Other adjustments

 

 

(37

)

 

 

-0.1

%

 

 

90

 

 

 

0.2

%

 

 

(170

)

 

-0.3

%

Effective tax rate

 

$

10,134

 

 

 

16.8

%

 

$

6,905

 

 

 

13.5

%

 

$

10,112

 

 

21.5

%
(1)
State taxes in Wisconsin and Kansas make up the majority (greater than 50%) of the tax effect in this category.
(2)
Net of losses and amortization.
Schedule of Deferred Tax Assets and Liabilities

The significant components of the Corporation’s deferred tax assets and liabilities were as follows:

 

 

December 31, 2025

 

 

December 31, 2024

 

 

(In Thousands)

 

Deferred tax assets:

 

 

 

 

 

 

Allowance for credit losses

 

$

9,872

 

 

$

9,820

 

Deferred compensation

 

 

3,053

 

 

 

2,511

 

State net operating loss carryforwards

 

 

356

 

 

 

687

 

Write-down of repossessed assets

 

 

25

 

 

 

31

 

Non-accrual loan interest

 

 

805

 

 

 

222

 

Lease liability

 

 

1,929

 

 

 

2,090

 

Unrealized losses on securities

 

 

3,156

 

 

 

4,136

 

Share-based compensation

 

 

911

 

 

 

761

 

Other

 

 

162

 

 

 

154

 

Total deferred tax assets before valuation allowance

 

 

20,269

 

 

 

20,412

 

Valuation allowance

 

 

(1,460

)

 

 

(1,568

)

Total deferred tax assets

 

 

18,809

 

 

 

18,844

 

Deferred tax liabilities:

 

 

 

 

 

 

Leasing and fixed asset activities

 

 

1,242

 

 

 

1,361

 

Loan servicing asset

 

 

345

 

 

 

328

 

Right-of-use asset

 

 

1,393

 

 

 

1,503

 

Investment in partnerships

 

 

1,557

 

 

 

2,037

 

Other

 

 

1,096

 

 

 

1,016

 

Total deferred tax liabilities

 

 

5,633

 

 

 

6,245

 

Net deferred tax asset

 

$

13,176

 

 

$

12,599

 

 
Schedule of Income Taxes Paid (Net of Refunds) by Jurisdiction

The Company paid the following income taxes (net of refunds) by jurisdiction:

 

 

For the Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(In Thousands)

 

US federal

 

$

2,295

 

 

$

1,491

 

 

$

5,335

 

US state and local

 

 

 

 

 

 

 

 

 

Wisconsin

 

*

 

 

 

(1,677

)

 

 

1,537

 

Minnesota

 

*

 

 

 

96

 

 

*

 

Missouri

 

*

 

 

 

50

 

 

*

 

Florida

 

*

 

 

 

50

 

 

*

 

Kansas

 

*

 

 

 

50

 

 

*

 

California

 

*

 

 

 

(45

)

 

*

 

Illinois

 

 

190

 

 

 

(32

)

 

*

 

New Jersey

 

*

 

 

 

30

 

 

*

 

Maryland

 

*

 

 

 

20

 

 

*

 

Oregon

 

*

 

 

 

20

 

 

*

 

Tennessee

 

*

 

 

 

20

 

 

*

 

Ohio

 

*

 

 

 

19

 

 

*

 

Iowa

 

*

 

 

 

(15

)

 

*

 

Michigan

 

*

 

 

 

15

 

 

*

 

Pennsylvania

 

*

 

 

 

15

 

 

*

 

Texas

 

*

 

 

 

13

 

 

*

 

Kentucky

 

*

 

 

 

12

 

 

*

 

North Carolina

 

*

 

 

 

10

 

 

*

 

Utah

 

*

 

 

 

10

 

 

*

 

Other

 

 

822

 

 

 

6

 

 

 

584

 

Total US state and local

 

 

1,012

 

 

 

(1,333

)

 

 

2,121

 

Total net income taxes paid

 

$

3,307

 

 

$

158

 

 

$

7,456

 

* The amount of income taxes paid during the year does not meet the 5% disaggregation threshold.
v3.25.4
Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Location and Fair Value of Derivative Instruments

 

 

As of December 31, 2025

 

 

 

Number of
Instruments

 

 

Notional
Amount

 

 

Weighted
Average
Maturity
(In Years)

 

 

Fair
Value

 

 

 

(Dollars in Thousands)

 

Included in Derivative assets

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements on loans with commercial
   loan clients

 

 

62

 

 

$

662,325

 

 

 

3.64

 

 

$

9,704

 

Interest rate swap agreements on loans with third-party
   counterparties

 

 

124

 

 

 

1,166,859

 

 

 

4.36

 

 

 

24,854

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap related to AFS securities

 

 

11

 

 

$

12,500

 

 

 

6.28

 

 

$

839

 

Interest rate swap related to wholesale funding

 

 

4

 

 

 

48,400

 

 

 

2.12

 

 

 

1,118

 

Included in Derivative liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements on loans with commercial
   loan clients

 

 

62

 

 

$

504,535

 

 

 

5.31

 

 

$

34,558

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap related to wholesale funding

 

 

45

 

 

$

449,089

 

 

 

3.29

 

 

$

2,368

 

 

 

 

As of December 31, 2024

 

 

 

Number of
Instruments

 

 

Notional
Amount

 

 

Weighted
Average
Maturity
(In Years)

 

 

Fair
Value

 

 

 

(Dollars in Thousands)

 

Included in Derivative assets

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements on loans with commercial
   loan clients

 

 

20

 

 

$

232,488

 

 

 

4.55

 

 

$

2,015

 

Interest rate swap agreements on loans with third-party
   counter parties

 

 

106

 

 

 

1,022,365

 

 

 

5.24

 

 

 

54,544

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap related to AFS securities

 

 

11

 

 

$

12,500

 

 

 

7.28

 

 

$

1,014

 

Interest rate swap related to wholesale funding

 

 

36

 

 

 

384,655

 

 

 

3.95

 

 

 

8,189

 

Included in Derivative liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements on loans with commercial
   loan clients

 

 

86

 

 

$

789,877

 

 

 

5.44

 

 

$

56,559

 

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap related to wholesale funding

 

 

10

 

 

$

100,000

 

 

 

1.55

 

 

$

509

 
v3.25.4
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Lending Related And Other Commitments

Financial instruments whose contract amounts represent potential credit risk were as follows:

 

 

 

At December 31,

 

 

 

2025

 

 

2024

 

 

 

(In Thousands)

 

Commitments to extend credit, primarily commercial loans

 

$

1,083,828

 

 

$

1,046,598

 

Standby letters of credit

 

 

15,802

 

 

 

17,276

 
Summary of SBA Recourse Reserve

The summary of the activity in the SBA recourse reserve is as follows:

 

 

 

As of and for the Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

 

(In Thousands)

 

Balance at the beginning of the period

 

$

645

 

 

$

955

 

SBA recourse

 

 

(64

)

 

 

(104

)

Charge-offs, net

 

 

(79

)

 

 

(206

)

Balance at the end of the period

 

$

502

 

 

$

645

 
v3.25.4
Fair Value Disclosures (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value On a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis, segregated by fair value hierarchy level, are summarized below:

 

 

 

December 31, 2025

 

 

 

Fair Value Measurements Using

 

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

(In Thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Securities available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

—

 

 

$

4,901

 

 

$

—

 

 

$

4,901

 

U.S. government agency securities - government-
   sponsored enterprises

 

 

—

 

 

 

2,314

 

 

 

—

 

 

 

2,314

 

Municipal securities

 

 

—

 

 

 

43,892

 

 

 

—

 

 

 

43,892

 

Residential mortgage-backed securities - government
   issued

 

 

—

 

 

 

166,635

 

 

 

—

 

 

 

166,635

 

Residential mortgage-backed securities - government-
   sponsored enterprises

 

 

—

 

 

 

162,543

 

 

 

—

 

 

 

162,543

 

Commercial mortgage-backed securities - government
   issued

 

 

—

 

 

 

2,114

 

 

 

—

 

 

 

2,114

 

Commercial mortgage-backed securities - government-
   sponsored enterprises

 

 

—

 

 

 

39,688

 

 

 

—

 

 

 

39,688

 

Interest rate swaps

 

 

—

 

 

 

36,515

 

 

 

—

 

 

 

36,515

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

 

—

 

 

 

36,926

 

 

 

—

 

 

 

36,926

 

 

 

 

December 31, 2024

 

 

 

Fair Value Measurements Using

 

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

(In Thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Securities available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasuries

 

$

—

 

 

$

4,718

 

 

$

—

 

 

$

4,718

 

U.S. government agency securities - government-
   sponsored enterprises

 

 

—

 

 

 

3,153

 

 

 

—

 

 

 

3,153

 

Municipal securities

 

 

—

 

 

 

34,861

 

 

 

—

 

 

 

34,861

 

Residential mortgage-backed securities - government
   issued

 

 

—

 

 

 

123,223

 

 

 

—

 

 

 

123,223

 

Residential mortgage-backed securities - government-
   sponsored enterprises

 

 

—

 

 

 

134,765

 

 

 

—

 

 

 

134,765

 

Commercial mortgage-backed securities - government
   issued

 

 

—

 

 

 

2,224

 

 

 

—

 

 

 

2,224

 

Commercial mortgage-backed securities - government-
   sponsored enterprises

 

 

—

 

 

 

38,448

 

 

 

—

 

 

 

38,448

 

Interest rate swaps

 

 

—

 

 

 

65,762

 

 

 

—

 

 

 

65,762

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

 

—

 

 

 

57,068

 

 

 

—

 

 

 

57,068

 
Schedule of Assets and Liabilities Measured at Fair Value on a Non-recurring Basis

Assets and liabilities measured at fair value on a non-recurring basis, segregated by fair value hierarchy are summarized below:

 

 

 

December 31, 2025

 

 

 

Fair Value Measurements Using

 

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

(In Thousands)

 

Collateral-dependent loans

 

$

—

 

 

$

—

 

 

$

8,796

 

 

$

8,796

 

Repossessed assets

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loan servicing rights

 

 

—

 

 

 

—

 

 

 

1,317

 

 

 

1,317

 

 

 

 

December 31, 2024

 

 

 

Fair Value Measurements Using

 

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

 

(In Thousands)

 

Collateral-dependent loans

 

$

—

 

 

$

—

 

 

$

7,506

 

 

$

7,506

 

Repossessed assets

 

 

—

 

 

 

—

 

 

 

51

 

 

 

51

 

Loan servicing rights

 

 

—

 

 

 

—

 

 

 

1,245

 

 

 

1,245

 
Schedule of Estimated Fair Values for Financial Instruments

The Corporation is required to disclose estimated fair values for its financial instruments. Fair value estimates, methods, and assumptions, consistent with exit price concepts for fair value measurements, are set forth below:

 

 

 

December 31, 2025

 

 

 

Carrying
Amount

 

 

Fair Value

 

 

 

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(In Thousands)

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

39,485

 

 

$

39,485

 

 

$

39,485

 

 

$

—

 

 

$

—

 

Securities available-for-sale

 

 

422,087

 

 

 

422,087

 

 

 

—

 

 

 

422,087

 

 

 

—

 

Securities held-to-maturity

 

 

5,210

 

 

 

5,141

 

 

 

—

 

 

 

5,141

 

 

 

—

 

Loans held for sale

 

 

18,849

 

 

 

20,357

 

 

 

—

 

 

 

20,357

 

 

 

—

 

Loans and lease receivables, net

 

 

3,337,364

 

 

 

3,330,756

 

 

 

—

 

 

 

—

 

 

 

3,330,756

 

Federal Home Loan Bank stock

 

 

8,940

 

 

N/A

 

 

N/A

 

 

N/A

 

 

N/A

 

Accrued interest receivable

 

 

13,100

 

 

 

13,100

 

 

 

13,100

 

 

 

—

 

 

 

—

 

Interest rate swaps

 

 

36,515

 

 

 

36,515

 

 

 

—

 

 

 

36,515

 

 

 

—

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

3,380,415

 

 

 

3,382,348

 

 

 

2,575,431

 

 

 

806,917

 

 

 

—

 

Federal Home Loan Bank advances and other borrowings

 

 

252,051

 

 

 

251,312

 

 

 

—

 

 

 

251,312

 

 

 

—

 

Accrued interest payable

 

 

9,417

 

 

 

9,417

 

 

 

9,417

 

 

 

—

 

 

 

—

 

Interest rate swaps

 

 

36,926

 

 

 

36,926

 

 

 

—

 

 

 

36,926

 

 

 

—

 

Off-balance sheet items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Standby letters of credit

 

 

197

 

 

 

197

 

 

 

—

 

 

 

—

 

 

 

197

 

N/A = The fair value is not applicable due to restrictions placed on transferability

 

 

 

December 31, 2024

 

 

 

Carrying
Amount

 

 

Fair Value

 

 

 

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(In Thousands)

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

157,702

 

 

$

157,702

 

 

$

157,702

 

 

$

—

 

 

$

—

 

Securities available-for-sale

 

 

341,392

 

 

 

341,392

 

 

 

—

 

 

 

341,392

 

 

 

—

 

Securities held-to-maturity

 

 

6,741

 

 

 

6,535

 

 

 

—

 

 

 

6,535

 

 

 

—

 

Loans held for sale

 

 

13,498

 

 

 

14,577

 

 

 

—

 

 

 

14,577

 

 

 

—

 

Loans and lease receivables, net

 

 

3,077,343

 

 

 

3,049,890

 

 

 

—

 

 

 

—

 

 

 

3,049,890

 

Federal Home Loan Bank stock

 

 

11,616

 

 

 

—

 

 

N/A

 

 

N/A

 

 

N/A

 

Accrued interest receivable

 

 

12,879

 

 

 

12,879

 

 

 

12,879

 

 

 

—

 

 

 

—

 

Interest rate swaps

 

 

65,762

 

 

 

65,762

 

 

 

—

 

 

 

65,762

 

 

 

—

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

3,107,140

 

 

 

3,107,068

 

 

 

2,406,532

 

 

 

700,536

 

 

 

—

 

Federal Home Loan Bank advances and other borrowings

 

 

320,049

 

 

 

314,175

 

 

 

—

 

 

 

314,175

 

 

 

—

 

Accrued interest payable

 

 

10,175

 

 

 

10,175

 

 

 

10,175

 

 

 

—

 

 

 

—

 

Interest rate swaps

 

 

57,068

 

 

 

57,068

 

 

 

—

 

 

 

57,068

 

 

 

—

 

Off-balance sheet items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Standby letters of credit

 

 

209

 

 

 

209

 

 

 

—

 

 

 

—

 

 

 

209

 

N/A = The fair value is not applicable due to restrictions placed on transferability
v3.25.4
Condensed Parent Only Financial Information (Tables)
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Condensed Balance Sheet

Condensed Balance Sheets

 

 

December 31,
2025

 

 

December 31,
2024

 

 

(In Thousands)

 

Assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

517

 

 

$

5,384

 

Investments in subsidiaries, at equity

 

 

423,364

 

 

 

379,604

 

Premises and equipment, net

 

 

56

 

 

 

67

 

Other assets

 

 

6,194

 

 

 

2,908

 

Total assets

 

$

430,131

 

 

$

387,963

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

Subordinated notes and other borrowings

 

$

54,805

 

 

$

54,689

 

Accrued interest payable and other liabilities

 

 

3,741

 

 

 

4,685

 

Total liabilities

 

 

58,546

 

 

 

59,374

 

Stockholders’ equity

 

 

371,585

 

 

 

328,589

 

Total liabilities and stockholders’ equity

 

$

430,131

 

 

$

387,963

 

 
Condensed Income Statement

Condensed Statements of Income

 

 

For the Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(In Thousands)

 

Net interest expense

 

$

3,532

 

 

$

3,283

 

 

$

1,989

 

Non-interest income

 

 

 

 

 

 

 

 

 

Dividends from subsidiaries

 

 

13,500

 

 

 

11,500

 

 

 

12,100

 

Consulting and rental income from consolidated
   subsidiaries

 

 

6,587

 

 

 

5,812

 

 

 

5,644

 

Other non-interest income

 

 

37

 

 

 

10

 

 

 

43

 

Total non-interest income

 

 

20,124

 

 

 

17,322

 

 

 

17,787

 

Non-interest expense

 

 

8,531

 

 

 

8,375

 

 

 

8,234

 

Gain before income tax benefit and equity in
   undistributed net income of consolidated subsidiaries

 

 

8,061

 

 

 

5,664

 

 

 

7,564

 

Income tax benefit

 

 

1,698

 

 

 

1,940

 

 

 

337

 

Gain before equity in undistributed net income of
   consolidated subsidiaries

 

 

9,759

 

 

 

7,604

 

 

 

7,901

 

Equity in undistributed net income of consolidated
   subsidiaries

 

 

40,560

 

 

 

36,641

 

 

 

29,126

 

Net income

 

$

50,319

 

 

$

44,245

 

 

$

37,027

 

 
Condensed Cash Flow Statement

Condensed Statements of Cash Flows

 

 

For the Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(In Thousands)

 

Operating activities

 

 

 

 

 

 

 

 

 

Net income

 

$

50,319

 

 

$

44,245

 

 

$

37,027

 

Adjustments to reconcile net income to net cash used in
   operating activities:

 

 

 

 

 

 

 

 

 

Equity in undistributed earnings of consolidated subsidiaries

 

 

(40,560

)

 

 

(36,641

)

 

 

(29,126

)

Share-based compensation

 

 

2,800

 

 

 

2,785

 

 

 

2,977

 

Excess tax benefit from share-based compensation

 

 

(62

)

 

 

(219

)

 

 

(91

)

Net (decrease) increase in other liabilities

 

 

(4,224

)

 

 

(146

)

 

 

(1,854

)

Other, net

 

 

(1,448

)

 

 

(1,639

)

 

 

1,207

 

Net cash provided by operating activities

 

 

6,825

 

 

 

8,385

 

 

 

10,140

 

Investing activities

 

 

 

 

 

 

 

 

 

Capital contributions to subsidiaries

 

 

—

 

 

 

—

 

 

 

(15,000

)

Net cash (used in) provided by investing activities

 

 

—

 

 

 

—

 

 

 

(15,000

)

Financing activities

 

 

 

 

 

 

 

 

 

Net increase in long-term borrowed funds

 

 

116

 

 

 

293

 

 

 

54

 

Proceeds from issuance of subordinated notes payable

 

 

—

 

 

 

20,000

 

 

 

15,000

 

Repayment of subordinated notes payable

 

 

—

 

 

 

(15,000

)

 

 

—

 

Proceeds from purchased funds and other short-term debt

 

 

—

 

 

 

—

 

 

 

—

 

Purchase of treasury stock

 

 

(1,390

)

 

 

(1,270

)

 

 

(2,971

)

Preferred stock dividends paid

 

 

(875

)

 

 

(875

)

 

 

(875

)

Cash dividends paid

 

 

(9,686

)

 

 

(8,320

)

 

 

(7,578

)

Net proceeds from purchases of ESPP shares

 

 

143

 

 

 

144

 

 

 

128

 

Net cash (used in) provided by financing activities

 

 

(11,692

)

 

 

(5,028

)

 

 

3,758

 

Net increase (decrease) in cash and due from banks

 

 

(4,867

)

 

 

3,357

 

 

 

(1,102

)

Cash and cash equivalents at the beginning of the period

 

 

5,384

 

 

 

2,027

 

 

 

3,129

 

Cash and cash equivalents at the end of the period

 

$

517

 

 

$

5,384

 

 

$

2,027

 
v3.25.4
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segments

 

For the Year Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

 

(In Thousands)

 

Interest income

 

$

247,310

 

 

$

233,130

 

 

$

194,928

 

Reconciliation of revenue

 

 

 

 

 

 

 

 

 

Other revenues

 

 

31,937

 

 

 

29,251

 

 

 

31,308

 

Total consolidated revenues

 

 

279,247

 

 

 

262,381

 

 

 

226,236

 

Less: interest expense

 

 

110,620

 

 

 

108,924

 

 

 

82,340

 

Segment net interest and non-interest income

 

 

168,627

 

 

 

153,457

 

 

 

143,896

 

Less:

 

 

 

 

 

 

 

 

 

Provision for credit losses

 

 

8,655

 

 

 

8,827

 

 

 

8,182

 

Compensation expense

 

 

67,874

 

 

 

63,105

 

 

 

61,059

 

Other segment items

 

 

31,645

 

 

 

30,375

 

 

 

27,516

 

Income tax expense

 

 

10,134

 

 

 

6,905

 

 

 

10,112

 

Segment and consolidated net income

 

$

50,319

 

 

$

44,245

 

 

$

37,027

 

 

 

 

 

 

 

 

 

 

 

Other segment disclosures:

 

 

 

 

 

 

 

 

 

Interest income

 

$

247,310

 

 

$

233,130

 

 

$

194,928

 

Interest expense

 

 

110,620

 

 

 

108,924

 

 

 

82,340

 

Depreciation, amortization, and accretion

 

 

3,774

 

 

 

3,738

 

 

 

3,636

 

Other significant noncash item:

 

 

 

 

 

 

 

 

 

      Provision for credit losses

 

 

8,655

 

 

 

8,827

 

 

 

8,182

 

Segment assets

 

 

4,081,887

 

 

 

3,853,215

 

 

 

3,507,846

 

Expenses for segment assets

 

 

99,519

 

 

 

93,480

 

 

 

88,575

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of assets:

 

 

 

 

 

 

 

 

 

Total assets for reportable segments

 

$

4,081,887

 

 

$

3,853,215

 

 

$

3,507,846

 

Other assets

 

 

—

 

 

 

—

 

 

 

—

 

Total consolidated assets

 

$

4,081,887

 

 

$

3,853,215

 

 

$

3,507,846

 
v3.25.4
Condensed Quarterly Earnings (unaudited) (Tables)
 12 Months Ended
Dec. 31, 2025
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information Condensed Quarterly Earnings (unaudited)

 

 

 

2025

 

 

2024

 

 

 

Fourth
Quarter

 

 

Third
Quarter

 

 

Second
Quarter

 

 

First
Quarter

 

 

Fourth
Quarter

 

 

Third
Quarter

 

 

Second
Quarter

 

 

First
Quarter

 

 

 

(Dollars in Thousands, Except Per Share Data)

 

Interest income

 

$

62,752

 

 

$

63,746

 

 

$

61,282

 

 

$

59,530

 

 

$

60,110

 

 

$

59,327

 

 

$

57,910

 

 

$

55,783

 

Interest expense

 

 

27,990

 

 

 

28,860

 

 

 

27,498

 

 

 

26,272

 

 

 

26,962

 

 

 

28,320

 

 

 

27,370

 

 

 

26,272

 

Net interest income

 

 

34,762

 

 

 

34,886

 

 

 

33,784

 

 

 

33,258

 

 

 

33,148

 

 

 

31,007

 

 

 

30,540

 

 

 

29,511

 

Provision for credit losses

 

 

1,855

 

 

 

1,440

 

 

 

2,701

 

 

 

2,659

 

 

 

2,701

 

 

 

2,087

 

 

 

1,713

 

 

 

2,326

 

Non-interest income

 

 

7,461

 

 

 

9,640

 

 

 

7,255

 

 

 

7,579

 

 

 

8,005

 

 

 

7,064

 

 

 

7,425

 

 

 

6,757

 

Non-interest expense

 

 

24,130

 

 

 

25,700

 

 

 

24,968

 

 

 

24,719

 

 

 

23,152

 

 

 

23,107

 

 

 

23,879

 

 

 

23,342

 

Income before income tax
   expense

 

 

16,238

 

 

 

17,386

 

 

 

13,370

 

 

 

13,459

 

 

 

15,300

 

 

 

12,877

 

 

 

12,373

 

 

 

10,600

 

Income tax expense

 

 

2,905

 

 

 

2,993

 

 

 

1,948

 

 

 

2,288

 

 

 

885

 

 

 

2,351

 

 

 

1,917

 

 

 

1,752

 

Net income

 

 

13,333

 

 

 

14,393

 

 

 

11,422

 

 

 

11,171

 

 

 

14,415

 

 

 

10,526

 

 

 

10,456

 

 

 

8,848

 

Preferred stock dividend

 

 

219

 

 

 

218

 

 

 

219

 

 

 

219

 

 

 

219

 

 

 

218

 

 

 

219

 

 

 

219

 

Income available to common
   shareholders

 

$

13,114

 

 

$

14,175

 

 

$

11,203

 

 

$

10,952

 

 

$

14,196

 

 

$

10,308

 

 

$

10,237

 

 

$

8,629

 

Per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings

 

$

1.58

 

 

$

1.70

 

 

$

1.35

 

 

$

1.32

 

 

$

1.71

 

 

$

1.24

 

 

$

1.23

 

 

$

1.04

 

Diluted earnings

 

 

1.58

 

 

 

1.70

 

 

 

1.35

 

 

 

1.32

 

 

 

1.71

 

 

 

1.24

 

 

 

1.23

 

 

 

1.04

 

Dividends declared

 

 

0.29

 

 

 

0.29

 

 

 

0.29

 

 

 

0.29

 

 

 

0.25

 

 

 

0.25

 

 

 

0.25

 

 

 

0.25

 
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
Segment
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Organization, Consolidation And Presentations Of Financial Statements [Line Items]      
Trading securities $ 0 $ 0  
Accrued interest receivable on AFS debt securities 1,600,000    
Accrued interest receivable on HTM debt securities 24,000    
Loans held for sale 18,849,000 13,498,000  
Accrued interest receivable on loans 11,200,000    
Bank owned life insurance death benefits 180,100,000 133,800,000  
Borrowings against cash surrender value of bank owned life insurance 0 0  
Federal Home Loan Bank stock, at cost 8,940,000 11,616,000  
Impairments recorded on FHLB stock $ 0 0  
Maximum ownership percentage that is not consolidated 50.00%    
Reclassification adjustment for net loss realized in net income $ 0 $ 8,000 $ 45,000
Number of operating segments | Segment 1    
Number of reportable segments | Segment 1    
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] true    
Change in Accounting Principle, Accounting Standards Update, Adoption Date Dec. 31, 2025    
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] true    
Accounting Standards Update [Extensible Enumeration] us-gaap:AccountingStandardsUpdate202309Member    
Minimum      
Organization, Consolidation And Presentations Of Financial Statements [Line Items]      
Equipment, estimated useful lives 3 years    
Maximum      
Organization, Consolidation And Presentations Of Financial Statements [Line Items]      
Equipment, estimated useful lives 10 years    
Restricted Stock | Minimum      
Organization, Consolidation And Presentations Of Financial Statements [Line Items]      
Award vesting period 3 years    
Requisite service and performance period 3 years    
Restricted Stock | Maximum      
Organization, Consolidation And Presentations Of Financial Statements [Line Items]      
Award vesting period 4 years    
Requisite service and performance period 4 years    
Performance-Based Restricted Stock Units      
Organization, Consolidation And Presentations Of Financial Statements [Line Items]      
Award vesting period 3 years    
Requisite service and performance period 3 years    
Performance-Based Restricted Stock Units | Minimum      
Organization, Consolidation And Presentations Of Financial Statements [Line Items]      
Percentage of target shares granted 0.00%    
Performance-Based Restricted Stock Units | Maximum      
Organization, Consolidation And Presentations Of Financial Statements [Line Items]      
Percentage of target shares granted 200.00%    
Employee Stock Purchase Plan      
Organization, Consolidation And Presentations Of Financial Statements [Line Items]      
Purchase price of common stock, percentage on fair value 90.00%    
v3.25.4
Cash and Cash Equivalents - Additional Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Cash and Cash Equivalents [Abstract]    
Cash and due from banks $ 30,771 $ 29,495
Federal Reserve Bank balances 7,700 127,800
Short-term investments $ 8,714 $ 128,207
v3.25.4
Securities - Schedule of Available-for-sale Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Schedule of Available-for-sale Securities    
Amortized Cost $ 434,707 $ 365,643
Gross unrealized holding gains 2,607 728
Gross unrealized holding losses (15,227) (24,979)
Available-for-sale securities, fair value 422,087 341,392
US Treasuries    
Schedule of Available-for-sale Securities    
Amortized Cost 4,995 4,989
Gross unrealized holding gains 0 0
Gross unrealized holding losses (94) (271)
Available-for-sale securities, fair value 4,901 4,718
US government agency securities | Government Sponsored Enterprises    
Schedule of Available-for-sale Securities    
Amortized Cost 2,500 3,500
Gross unrealized holding gains 0 0
Gross unrealized holding losses (186) (347)
Available-for-sale securities, fair value 2,314 3,153
Municipal Securities    
Schedule of Available-for-sale Securities    
Amortized Cost 46,993 39,997
Gross unrealized holding gains 328 0
Gross unrealized holding losses (3,429) (5,136)
Available-for-sale securities, fair value 43,892 34,861
Residential Mortgage-backed Securities    
Schedule of Available-for-sale Securities    
Amortized Cost 335,477  
Available-for-sale securities, fair value 329,178  
Residential Mortgage-backed Securities | GNMA    
Schedule of Available-for-sale Securities    
Amortized Cost 166,933 125,571
Gross unrealized holding gains 1,279 470
Gross unrealized holding losses (1,577) (2,818)
Available-for-sale securities, fair value 166,635 123,223
Residential Mortgage-backed Securities | Government Sponsored Enterprises    
Schedule of Available-for-sale Securities    
Amortized Cost 168,544 145,888
Gross unrealized holding gains 929 234
Gross unrealized holding losses (6,930) (11,357)
Available-for-sale securities, fair value 162,543 134,765
Commercial Mortgage-backed Securities    
Schedule of Available-for-sale Securities    
Amortized Cost 44,742  
Available-for-sale securities, fair value 41,802  
Commercial Mortgage-backed Securities | GNMA    
Schedule of Available-for-sale Securities    
Amortized Cost 2,416 2,665
Gross unrealized holding gains 0 0
Gross unrealized holding losses (302) (441)
Available-for-sale securities, fair value 2,114 2,224
Commercial Mortgage-backed Securities | Government Sponsored Enterprises    
Schedule of Available-for-sale Securities    
Amortized Cost 42,326 43,033
Gross unrealized holding gains 71 24
Gross unrealized holding losses (2,709) (4,609)
Available-for-sale securities, fair value $ 39,688 $ 38,448
v3.25.4
Securities - Schedule of Held-to-maturity Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Schedule of Held-to-maturity Securities    
Amortized Cost $ 5,210 $ 6,741
Gross unrecognized holding gains 0 0
Gross unrecognized holding losses (69) (206)
Estimated Fair Value 5,141 6,535
Municipal Securities    
Schedule of Held-to-maturity Securities    
Amortized Cost 2,144 3,137
Gross unrecognized holding gains 0 0
Gross unrecognized holding losses (3) (38)
Estimated Fair Value 2,141 3,099
Residential Mortgage-backed Securities    
Schedule of Held-to-maturity Securities    
Amortized Cost 1,064  
Estimated Fair Value 1,020  
Residential Mortgage-backed Securities | GNMA    
Schedule of Held-to-maturity Securities    
Amortized Cost 546 836
Gross unrecognized holding gains 0 0
Gross unrecognized holding losses (26) (48)
Estimated Fair Value 520 788
Residential Mortgage-backed Securities | Government Sponsored Enterprises    
Schedule of Held-to-maturity Securities    
Amortized Cost 518 766
Gross unrecognized holding gains 0 0
Gross unrecognized holding losses (18) (42)
Estimated Fair Value 500 724
Commercial Mortgage-backed Securities    
Schedule of Held-to-maturity Securities    
Amortized Cost 2,002  
Estimated Fair Value 1,980  
Commercial Mortgage-backed Securities | Government Sponsored Enterprises    
Schedule of Held-to-maturity Securities    
Amortized Cost 2,002 2,002
Gross unrecognized holding gains 0 0
Gross unrecognized holding losses (22) (78)
Estimated Fair Value $ 1,980 $ 1,924
v3.25.4
Securities - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
Securities
Dec. 31, 2024
USD ($)
Securities
Dec. 31, 2023
USD ($)
Debt Securities, Available-for-Sale [Line Items]      
Number of available-for-sale securities sold 0 5  
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions 166    
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions 155    
Number of held-to-maturity securities in an unrealized loss position 19    
Number of Positions Held-to-Maturity, Securities in Continuous Unrealized Loss Positions, 12 Months or Longer 17    
Credit loss provision | $ $ 0 $ 0 $ 0
Various Obligations      
Debt Securities, Available-for-Sale [Line Items]      
Securities with a fair value | $ $ 38,800,000 $ 36,900,000  
v3.25.4
Securities - Schedule of Realized Gains and Losses on Sale of Securities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]      
Gross gains $ 0 $ 0 $ 68
Gross losses 0 (8) (113)
Net losses on sale of available-for-sale securities 0 (8) (45)
Proceeds from sale of available-for-sale securities $ 0 $ 7,533 $ 5,085
v3.25.4
Securities - Summary of Amortized Cost and Fair Value by Contractual Maturity (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Available-for-Sale, Amortized Cost    
Due in one year or less $ 5,933  
Due in one year through five years 12,905  
Due in five through ten years 9,652  
Due in over ten years 25,998  
Available-for-Sale, Maturity, Allocated and Single Maturity Date, Amortized Cost 54,488  
Amortized cost 434,707 $ 365,643
Available-for-Sale, Estimated Fair Value    
Due in one year or less 5,833  
Due after one year through five years 12,373  
Due in five through ten years 9,109  
Due in over ten years 23,792  
Debt Securities, Held-to-Maturity, Maturity, without Single Maturity Date, Fair Value 51,107  
Available-for-sale securities, fair value 422,087 341,392
Held-to-Maturity, Amortized Cost    
Due in one year or less 745  
Due in one year through five years 1,399  
Due in five through ten years 0  
Due in over ten years 0  
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, without Single Maturity Date 2,144  
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss 5,210 6,741
Held-to-Maturity, Estimated Fair Value    
Due in one year or less 744  
Due in one year through five years 1,397  
Due in five through ten years 0  
Due in over ten years 0  
Debt Securities, Held-to-Maturity, Maturity, without Single Maturity Date, Fair Value 2,141  
Debt Securities, Held-to-Maturity, Fair Value 5,141 $ 6,535
Residential Mortgage-Backed Securities [Member]    
Available-for-Sale, Amortized Cost    
Amortized cost 335,477  
Available-for-Sale, Estimated Fair Value    
Available-for-sale securities, fair value 329,178  
Held-to-Maturity, Amortized Cost    
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss 1,064  
Held-to-Maturity, Estimated Fair Value    
Debt Securities, Held-to-Maturity, Fair Value 1,020  
Commercial Mortgage-Backed Securities [Member]    
Available-for-Sale, Amortized Cost    
Amortized cost 44,742  
Available-for-Sale, Estimated Fair Value    
Available-for-sale securities, fair value 41,802  
Held-to-Maturity, Amortized Cost    
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss 2,002  
Held-to-Maturity, Estimated Fair Value    
Debt Securities, Held-to-Maturity, Fair Value $ 1,980  
v3.25.4
Securities - Summary of Unrealized Loss for Securities Available-For-Sale (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value    
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months $ 45,943 $ 94,944
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 202 1,794
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 161,499 161,809
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 15,025 23,185
Available-for-sale, Unrealized Loss Position 207,442 256,753
Available-for-sale, Unrealized Loss Position, Accumulated Loss 15,227 24,979
US Treasuries    
Fair Value    
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 0 0
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0 0
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 4,901 4,718
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 94 271
Available-for-sale, Unrealized Loss Position 4,901 4,718
Available-for-sale, Unrealized Loss Position, Accumulated Loss 94 271
US government agency securities | Government Sponsored Enterprises    
Fair Value    
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 0 0
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0 0
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 2,314 3,153
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 186 347
Available-for-sale, Unrealized Loss Position 2,314 3,153
Available-for-sale, Unrealized Loss Position, Accumulated Loss 186 347
Municipal Securities    
Fair Value    
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 0 0
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0 0
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 34,660 34,861
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 3,429 5,136
Available-for-sale, Unrealized Loss Position 34,660 34,861
Available-for-sale, Unrealized Loss Position, Accumulated Loss 3,429 5,136
Residential Mortgage-backed Securities | GNMA    
Fair Value    
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 25,970 40,320
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 85 374
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 17,454 18,999
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 1,492 2,444
Available-for-sale, Unrealized Loss Position 43,424 59,319
Available-for-sale, Unrealized Loss Position, Accumulated Loss 1,577 2,818
Residential Mortgage-backed Securities | Government Sponsored Enterprises    
Fair Value    
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 14,002 43,907
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 73 995
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 72,481 71,103
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 6,857 10,362
Available-for-sale, Unrealized Loss Position 86,483 115,010
Available-for-sale, Unrealized Loss Position, Accumulated Loss 6,930 11,357
Commercial Mortgage-backed Securities | GNMA    
Fair Value    
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 0 0
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 0 0
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 2,114 2,224
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 302 441
Available-for-sale, Unrealized Loss Position 2,114 2,224
Available-for-sale, Unrealized Loss Position, Accumulated Loss 302 441
Commercial Mortgage-backed Securities | Government Sponsored Enterprises    
Fair Value    
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months 5,971 10,717
Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss 44 425
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer 27,575 26,751
Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 2,665 4,184
Available-for-sale, Unrealized Loss Position 33,546 37,468
Available-for-sale, Unrealized Loss Position, Accumulated Loss $ 2,709 $ 4,609
v3.25.4
Securities - Summary of Unrecognized Loss for Securities Held-To-Maturity (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value    
Fair Value Less than 12 months $ 959 $ 454
Unrealized Loss Less than 12 months 1 5
Fair Value 12 months or longer 3,680 5,575
Unrealized Loss 12 months or longer 68 201
Total Fair Value 4,639 6,029
Total Unrealized Loss 69 206
Municipal Securities    
Fair Value    
Fair Value Less than 12 months 959 454
Unrealized Loss Less than 12 months 1 5
Fair Value 12 months or longer 680 2,139
Unrealized Loss 12 months or longer 2 33
Total Fair Value 1,639 2,593
Total Unrealized Loss 3 38
Residential Mortgage-backed Securities | GNMA    
Fair Value    
Fair Value Less than 12 months 0 0
Unrealized Loss Less than 12 months 0 0
Fair Value 12 months or longer 520 788
Unrealized Loss 12 months or longer 26 48
Total Fair Value 520 788
Total Unrealized Loss 26 48
Residential Mortgage-backed Securities | Government Sponsored Enterprises    
Fair Value    
Fair Value Less than 12 months 0 0
Unrealized Loss Less than 12 months 0 0
Fair Value 12 months or longer 500 724
Unrealized Loss 12 months or longer 18 42
Total Fair Value 500 724
Total Unrealized Loss 18 42
Commercial Mortgage-backed Securities | Government Sponsored Enterprises    
Fair Value    
Fair Value Less than 12 months 0 0
Unrealized Loss Less than 12 months 0 0
Fair Value 12 months or longer 1,980 1,924
Unrealized Loss 12 months or longer 22 78
Total Fair Value 1,980 1,924
Total Unrealized Loss $ 22 $ 78
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Loan and Lease Receivables Composition (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Loans and Leases Receivable Disclosure      
Total gross loans and leases receivable $ 3,375,227 $ 3,113,850  
Allowance for loan losses 35,877 35,785 $ 31,275
Deferred loan fees and costs, net 1,986 722  
Loans and leases receivable, net 3,337,364 3,077,343  
Commercial Real Estate      
Loans and Leases Receivable Disclosure      
Total gross loans and leases receivable 2,060,265 1,917,130  
Commercial Real Estate | Owner Occupied      
Loans and Leases Receivable Disclosure      
Total gross loans and leases receivable 293,706 273,397  
Allowance for loan losses 1,902 1,615 1,525
Commercial Real Estate | Non-owner Occupied      
Loans and Leases Receivable Disclosure      
Total gross loans and leases receivable 885,870 845,298  
Allowance for loan losses 6,306 5,843 5,596
Commercial Real Estate | Construction and land development      
Loans and Leases Receivable Disclosure      
Total gross loans and leases receivable 248,560 221,086  
Allowance for loan losses 1,871 2,022 1,244
Commercial Real Estate | Multi-family      
Loans and Leases Receivable Disclosure      
Total gross loans and leases receivable 571,468 530,853  
Allowance for loan losses 4,915 4,597 3,562
Commercial Real Estate | 1-4 Family      
Loans and Leases Receivable Disclosure      
Total gross loans and leases receivable 60,661 46,496  
Commercial and Industrial      
Loans and Leases Receivable Disclosure      
Total gross loans and leases receivable 1,273,997 1,151,720  
Allowance for loan losses 19,989 20,934 18,710
Consumer and Other      
Loans and Leases Receivable Disclosure      
Total gross loans and leases receivable 40,965 45,000  
Allowance for loan losses $ 373 $ 282 $ 395
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Loans transferred and purchased (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties $ 18,864 $ 20,670
Outstanding balance of loans serviced 82,022 79,365
Ownership of transferred loans 24,919 23,916
Non-SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 110,469 137,969
Outstanding balance of loans serviced 385,839 373,068
Ownership of transferred loans 456,763 423,706
Loan participations purchased 19,469 5,318
Commercial and Industrial | SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 18,864 20,670
Outstanding balance of loans serviced 82,022 79,365
Ownership of transferred loans 24,919 23,916
Commercial and Industrial | Non-SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 24,038 19,982
Outstanding balance of loans serviced 19,671 19,616
Ownership of transferred loans 24,093 22,607
Loan participations purchased 9,695 0
Consumer and Other | SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 0 0
Outstanding balance of loans serviced 0 0
Ownership of transferred loans 0 0
Consumer and Other | Non-SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 0 0
Outstanding balance of loans serviced 0 0
Ownership of transferred loans 0 0
Loan participations purchased 0 0
Owner Occupied | Commercial Real Estate | SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 0 0
Outstanding balance of loans serviced 0 0
Ownership of transferred loans 0 0
Owner Occupied | Commercial Real Estate | Non-SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 0 0
Outstanding balance of loans serviced 12,133 18,449
Ownership of transferred loans 6,933 10,286
Loan participations purchased 0 0
Non-owner Occupied | Commercial Real Estate | SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 0 0
Outstanding balance of loans serviced 0 0
Ownership of transferred loans 0 0
Non-owner Occupied | Commercial Real Estate | Non-SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 22,146 32,253
Outstanding balance of loans serviced 158,579 166,283
Ownership of transferred loans 219,426 233,349
Loan participations purchased 0 0
Construction and land development | Commercial Real Estate | SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 0 0
Outstanding balance of loans serviced 0 0
Ownership of transferred loans 0 0
Construction and land development | Commercial Real Estate | Non-SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 59,702 74,052
Outstanding balance of loans serviced 43,846 41,241
Ownership of transferred loans 68,447 29,762
Loan participations purchased 0 5,318
Multi-family | Commercial Real Estate | SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 0 0
Outstanding balance of loans serviced 0 0
Ownership of transferred loans 0 0
Multi-family | Commercial Real Estate | Non-SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 4,583 11,682
Outstanding balance of loans serviced 151,610 127,479
Ownership of transferred loans 137,864 127,702
Loan participations purchased 9,774 0
1-4 Family | Commercial Real Estate | SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 0 0
Outstanding balance of loans serviced 0 0
Ownership of transferred loans 0 0
1-4 Family | Commercial Real Estate | Non-SBA    
Financing Receivable, Credit Quality Indicator [Line Items]    
Loans transferred to third parties 0 0
Outstanding balance of loans serviced 0 0
Ownership of transferred loans 0 0
Loan participations purchased $ 0 $ 0
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Schedule of Related Party Transactions (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Receivables [Abstract]    
Balance at beginning of year $ 245 $ 263
New loans 272 381
Repayments (226) (399)
Balance at end of year $ 291 $ 245
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Net Investment In Direct Financing Leases (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Receivables [Abstract]    
Minimum lease payments receivable $ 7,093 $ 8,975
Estimated unguaranteed residual values in leased property 668 632
Unearned lease and residual income (884) (1,148)
Investment in commercial direct financing leases $ 6,877 $ 8,459
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Summarr of Future Aggregate Maturities of Minimum Lease Payments to Be Received (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Receivables [Abstract]    
2026 $ 2,640  
2027 2,103  
2028 1,322  
2029 632  
2030 229  
Thereafter 167  
Minimum lease payments receivable $ 7,093 $ 8,975
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Financing Receivable by Credit Quality Indicators (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 512,322 $ 471,051
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 410,962 582,921
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 509,952 359,297
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 312,488 243,300
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 215,975 268,627
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 802,846 663,098
Financing Receivable, Excluding Accrued Interest, Revolving 610,682 525,556
Loans and Leases Receivable, before Fees, Gross $ 3,375,227 $ 3,113,850
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 100.00% 100.00%
Category I    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 510,808 $ 465,244
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 384,184 567,344
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 474,152 338,625
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 286,477 227,370
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 195,032 257,574
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 747,864 598,159
Financing Receivable, Excluding Accrued Interest, Revolving 545,059 458,826
Loans and Leases Receivable, before Fees, Gross $ 3,143,576 $ 2,913,142
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 93.10% 93.60%
Category II    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 568 $ 316
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 14,119 2,700
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 14,538 10,064
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 13,257 2,584
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 25 2,620
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 10,442 32,771
Financing Receivable, Excluding Accrued Interest, Revolving 24,140 7,676
Loans and Leases Receivable, before Fees, Gross $ 77,089 $ 58,731
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 2.30% 1.90%
Category III    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 499 $ 4,955
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 10,814 8,817
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 16,164 4,363
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 4,656 12,308
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 9,883 8,159
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 34,485 29,058
Financing Receivable, Excluding Accrued Interest, Revolving 34,206 45,950
Loans and Leases Receivable, before Fees, Gross $ 110,707 $ 113,610
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 3.30% 3.60%
Category IV    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 447 $ 536
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 1,845 4,060
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 5,098 6,245
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 8,098 1,038
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 11,035 274
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 10,055 3,110
Financing Receivable, Excluding Accrued Interest, Revolving 7,277 13,104
Loans and Leases Receivable, before Fees, Gross $ 43,855 $ 28,367
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 1.30% 0.90%
Commercial Real Estate    
Financing Receivable, Recorded Investment    
Loans and Leases Receivable, before Fees, Gross $ 2,060,265 $ 1,917,130
Commercial Real Estate | Owner Occupied    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year 65,752 27,258
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 22,619 45,066
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 41,709 42,849
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 32,186 34,486
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 30,251 37,078
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 100,894 86,213
Financing Receivable, Excluding Accrued Interest, Revolving 295 447
Loans and Leases Receivable, before Fees, Gross $ 293,706 $ 273,397
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 100.00% 100.00%
Commercial Real Estate | Owner Occupied | Category I    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 65,752 $ 26,508
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 20,422 45,066
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 39,698 42,849
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 32,186 34,486
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 30,251 37,078
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 92,981 85,405
Financing Receivable, Excluding Accrued Interest, Revolving 295 447
Loans and Leases Receivable, before Fees, Gross $ 281,585 $ 271,839
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 95.90% 99.40%
Commercial Real Estate | Owner Occupied | Category II    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 2,011 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 2,011 $ 0
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 0.70% 0.00%
Commercial Real Estate | Owner Occupied | Category III    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 750
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 2,197 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 7,913 217
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 10,110 $ 967
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 3.40% 0.40%
Commercial Real Estate | Owner Occupied | Category IV    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 0 591
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 0 $ 591
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 0.00% 0.20%
Commercial Real Estate | Non-owner Occupied    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 85,103 $ 80,371
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 81,087 86,289
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 108,308 89,181
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 89,226 69,129
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 64,519 87,388
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 423,391 395,811
Financing Receivable, Excluding Accrued Interest, Revolving 34,236 37,129
Loans and Leases Receivable, before Fees, Gross $ 885,870 $ 845,298
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 100.00% 100.00%
Commercial Real Estate | Non-owner Occupied | Category I    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 85,103 $ 80,371
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 81,087 85,651
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 108,308 89,181
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 89,226 69,129
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 63,803 85,238
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 392,720 340,802
Financing Receivable, Excluding Accrued Interest, Revolving 34,236 37,129
Loans and Leases Receivable, before Fees, Gross $ 854,483 $ 787,501
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 96.40% 93.20%
Commercial Real Estate | Non-owner Occupied | Category II    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 2,150
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 6,863 31,720
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 6,863 $ 33,870
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 0.80% 4.00%
Commercial Real Estate | Non-owner Occupied | Category III    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 638
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 716 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 23,808 23,289
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 24,524 $ 23,927
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 2.80% 2.80%
Commercial Real Estate | Non-owner Occupied | Category IV    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 0 $ 0
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 0.00% 0.00%
Commercial Real Estate | Construction and land development    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 35,887 $ 36,135
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 73,179 110,437
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 84,019 24,756
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 10,732 9,338
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 8,246 6,432
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 11,015 5,783
Financing Receivable, Excluding Accrued Interest, Revolving 25,482 28,205
Loans and Leases Receivable, before Fees, Gross $ 248,560 $ 221,086
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 100.00% 100.00%
Commercial Real Estate | Construction and land development | Category I    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 35,887 $ 36,135
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 73,179 110,437
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 78,264 24,302
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 10,278 1,183
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 91 719
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 5,043 5,520
Financing Receivable, Excluding Accrued Interest, Revolving 25,482 28,205
Loans and Leases Receivable, before Fees, Gross $ 228,224 $ 206,501
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 91.80% 93.40%
Commercial Real Estate | Construction and land development | Category II    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 0 $ 0
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 0.00% 0.00%
Commercial Real Estate | Construction and land development | Category III    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 5,755 454
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 8,155
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 5,713
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 0 263
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 5,755 $ 14,585
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 2.30% 6.60%
Commercial Real Estate | Construction and land development | Category IV    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 454 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 8,155 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 5,972 0
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 14,581 $ 0
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 5.90% 0.00%
Commercial Real Estate | Multi-family    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 57,113 $ 40,079
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 18,231 102,886
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 107,039 82,160
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 100,589 70,763
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 72,578 97,303
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 213,274 135,374
Financing Receivable, Excluding Accrued Interest, Revolving 2,644 2,288
Loans and Leases Receivable, before Fees, Gross $ 571,468 $ 530,853
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 100.00% 100.00%
Commercial Real Estate | Multi-family | Category I    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 57,113 $ 40,079
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 18,231 102,886
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 103,795 74,753
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 93,280 66,775
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 61,620 97,303
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 211,473 134,331
Financing Receivable, Excluding Accrued Interest, Revolving 2,644 2,288
Loans and Leases Receivable, before Fees, Gross $ 548,156 $ 518,415
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 95.90% 97.60%
Commercial Real Estate | Multi-family | Category II    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 1,530 7,407
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 7,309 2,584
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 782 1,043
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 9,621 $ 11,034
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 1.70% 2.10%
Commercial Real Estate | Multi-family | Category III    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 1,404
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 8,380 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 1,019 0
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 9,399 $ 1,404
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 1.60% 0.30%
Commercial Real Estate | Multi-family | Category IV    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 1,714 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 2,578 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 4,292 $ 0
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 0.80% 0.00%
Commercial Real Estate | 1-4 Family    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 18,249 $ 15,220
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 7,043 4,200
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 1,416 7,005
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 4,432 2,336
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 2,036 2,282
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 3,470 2,178
Financing Receivable, Excluding Accrued Interest, Revolving 24,015 13,275
Loans and Leases Receivable, before Fees, Gross $ 60,661 $ 46,496
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 100.00% 100.00%
Commercial Real Estate | 1-4 Family | Category I    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 18,249 $ 15,220
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 7,043 4,200
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 1,416 7,005
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 4,432 2,336
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 2,036 2,282
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 3,470 2,178
Financing Receivable, Excluding Accrued Interest, Revolving 24,015 13,275
Loans and Leases Receivable, before Fees, Gross $ 60,661 $ 46,496
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 100.00% 100.00%
Commercial Real Estate | 1-4 Family | Category II    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 0 $ 0
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 0.00% 0.00%
Commercial Real Estate | 1-4 Family | Category III    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 0 $ 0
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 0.00% 0.00%
Commercial Real Estate | 1-4 Family | Category IV    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 0 $ 0
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 0.00% 0.00%
Commercial and Industrial    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 242,428 $ 265,033
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 203,088 228,799
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 163,294 105,930
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 70,397 54,484
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 36,628 27,150
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 40,379 33,854
Financing Receivable, Excluding Accrued Interest, Revolving 517,783 436,470
Loans and Leases Receivable, before Fees, Gross $ 1,273,997 $ 1,151,720
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 100.00% 100.00%
Commercial and Industrial | Category I    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 240,914 $ 259,976
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 178,507 213,860
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 138,504 93,119
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 52,149 50,697
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 35,514 23,960
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 31,754 26,038
Financing Receivable, Excluding Accrued Interest, Revolving 452,160 369,740
Loans and Leases Receivable, before Fees, Gross $ 1,129,502 $ 1,037,390
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 88.60% 90.10%
Commercial and Industrial | Category II    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 568 $ 316
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 14,119 2,700
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 10,997 2,657
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 5,948 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 25 470
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 2,797 8
Financing Receivable, Excluding Accrued Interest, Revolving 24,140 7,676
Loans and Leases Receivable, before Fees, Gross $ 58,594 $ 13,827
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 4.60% 1.20%
Commercial and Industrial | Category III    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 499 $ 4,205
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 8,617 8,179
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 10,409 3,909
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 4,656 2,749
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 787 2,446
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 1,745 5,289
Financing Receivable, Excluding Accrued Interest, Revolving 34,206 45,950
Loans and Leases Receivable, before Fees, Gross $ 60,919 $ 72,727
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 4.80% 6.30%
Commercial and Industrial | Category IV    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 447 $ 536
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 1,845 4,060
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 3,384 6,245
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 7,644 1,038
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 302 274
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 4,083 2,519
Financing Receivable, Excluding Accrued Interest, Revolving 7,277 13,104
Loans and Leases Receivable, before Fees, Gross $ 24,982 $ 27,776
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 2.00% 2.40%
Consumer and Other    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 7,790 $ 6,955
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 5,715 5,244
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 4,167 7,416
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 4,926 2,764
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 1,717 10,994
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 10,423 3,885
Financing Receivable, Excluding Accrued Interest, Revolving 6,227 7,742
Loans and Leases Receivable, before Fees, Gross $ 40,965 $ 45,000
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 100.00% 100.00%
Consumer and Other | Category I    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 7,790 $ 6,955
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 5,715 5,244
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 4,167 7,416
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 4,926 2,764
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 1,717 10,994
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 10,423 3,885
Financing Receivable, Excluding Accrued Interest, Revolving 6,227 7,742
Loans and Leases Receivable, before Fees, Gross $ 40,965 $ 45,000
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 100.00% 100.00%
Consumer and Other | Category II    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 0 $ 0
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 0.00% 0.00%
Consumer and Other | Category III    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 0 $ 0
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 0.00% 0.00%
Consumer and Other | Category IV    
Financing Receivable, Recorded Investment    
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year $ 0 $ 0
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year 0 0
Financing Receivable, Excluding Accrued Interest, Revolving 0 0
Loans and Leases Receivable, before Fees, Gross $ 0 $ 0
Financing Receivable, Excluding Accrued Interest,percentage of total portfolio 0.00% 0.00%
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses -Delinquency Aging of Loan and Lease Portfolio by Class of Receivable (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable $ 3,375,227 $ 3,113,850
Percent of portfolio 100.00% 100.00%
30-59 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable $ 17,747 $ 20,828
Past due, percent of portfolio 0.53% 0.67%
60-89 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable $ 963 $ 1,345
Past due, percent of portfolio 0.03% 0.04%
Greater Than 90 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable $ 15,229 $ 18,984
Past due, percent of portfolio 0.45% 0.61%
Total Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable $ 33,939 $ 41,157
Past due, percent of portfolio 1.01% 1.32%
Not Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable $ 3,341,288 $ 3,072,693
Current, percent of portfolio 98.99% 98.68%
Commercial Real Estate    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable $ 2,060,265 $ 1,917,130
Commercial Real Estate | Owner Occupied    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 293,706 273,397
Commercial Real Estate | Owner Occupied | 30-59 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 1,102
Commercial Real Estate | Owner Occupied | 60-89 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | Owner Occupied | Greater Than 90 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | Owner Occupied | Total Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 1,102
Commercial Real Estate | Owner Occupied | Not Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 293,706 272,295
Commercial Real Estate | Non-owner Occupied    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 885,870 845,298
Commercial Real Estate | Non-owner Occupied | 30-59 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | Non-owner Occupied | 60-89 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | Non-owner Occupied | Greater Than 90 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | Non-owner Occupied | Total Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | Non-owner Occupied | Not Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 885,870 845,298
Commercial Real Estate | Construction and land development    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 248,560 221,086
Commercial Real Estate | Construction and land development | 30-59 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 14,581 14,321
Commercial Real Estate | Construction and land development | 60-89 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 263
Commercial Real Estate | Construction and land development | Greater Than 90 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | Construction and land development | Total Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 14,581 14,584
Commercial Real Estate | Construction and land development | Not Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 233,979 206,502
Commercial Real Estate | Multi-family    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 571,468 530,853
Commercial Real Estate | Multi-family | 30-59 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | Multi-family | 60-89 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | Multi-family | Greater Than 90 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | Multi-family | Total Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | Multi-family | Not Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 571,468 530,853
Commercial Real Estate | 1-4 Family    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 60,661 46,496
Commercial Real Estate | 1-4 Family | 30-59 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | 1-4 Family | 60-89 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | 1-4 Family | Greater Than 90 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | 1-4 Family | Total Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Commercial Real Estate | 1-4 Family | Not Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 60,661 46,496
Commercial and Industrial    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 1,273,997 1,151,720
Commercial and Industrial | 30-59 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 3,116 5,405
Commercial and Industrial | 60-89 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 963 1,072
Commercial and Industrial | Greater Than 90 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 15,229 18,984
Commercial and Industrial | Total Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 19,308 25,461
Commercial and Industrial | Not Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 1,254,689 1,126,259
Consumer and Other    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 40,965 45,000
Consumer and Other | 30-59 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 50 0
Consumer and Other | 60-89 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 10
Consumer and Other | Greater Than 90 Days Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 0 0
Consumer and Other | Total Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable 50 10
Consumer and Other | Not Past Due    
Financing Receivable, Recorded Investment, Summary of Past Due and Current Loans Receivable    
Total gross loans and leases receivable $ 40,915 $ 44,990
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Schedule of Non-Accrual Loans and Leases (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Impaired    
Non-accrual loans and leases, Non-accrual With No Allowance for Credit Loss $ 29,525 $ 13,125
Non-accrual loans and leases, Non-accrual With Allowance for Credit Loss 14,330 15,242
Non-accrual loans and leases, Loans Past Due Over 89 Days Still Accruing $ 0 $ 0
Total non-accrual loans and leases to gross loans and leases 1.30% 0.91%
Allowance for credit losses to gross loans and leases 1.12% 1.20%
Allowance for credit losses to non-accrual loans and leases 85.95% 131.38%
Commercial Real Estate    
Financing Receivable, Impaired    
Non-accrual loans and leases, Non-accrual With No Allowance for Credit Loss $ 18,873 $ 0
Non-accrual loans and leases, Non-accrual With Allowance for Credit Loss 0 591
Non-accrual loans and leases, Loans Past Due Over 89 Days Still Accruing 0 0
Commercial Real Estate | Owner Occupied    
Financing Receivable, Impaired    
Non-accrual loans and leases, Non-accrual With No Allowance for Credit Loss 0 0
Non-accrual loans and leases, Non-accrual With Allowance for Credit Loss 0 591
Non-accrual loans and leases, Loans Past Due Over 89 Days Still Accruing 0 0
Commercial Real Estate | Non-owner Occupied    
Financing Receivable, Impaired    
Non-accrual loans and leases, Non-accrual With No Allowance for Credit Loss 0 0
Non-accrual loans and leases, Non-accrual With Allowance for Credit Loss 0 0
Non-accrual loans and leases, Loans Past Due Over 89 Days Still Accruing 0 0
Commercial Real Estate | Construction and land development    
Financing Receivable, Impaired    
Non-accrual loans and leases, Non-accrual With No Allowance for Credit Loss 14,581 0
Non-accrual loans and leases, Non-accrual With Allowance for Credit Loss 0 0
Non-accrual loans and leases, Loans Past Due Over 89 Days Still Accruing 0 0
Commercial Real Estate | Multi-family    
Financing Receivable, Impaired    
Non-accrual loans and leases, Non-accrual With No Allowance for Credit Loss 4,292 0
Non-accrual loans and leases, Non-accrual With Allowance for Credit Loss 0 0
Non-accrual loans and leases, Loans Past Due Over 89 Days Still Accruing 0 0
Commercial Real Estate | 1-4 Family    
Financing Receivable, Impaired    
Non-accrual loans and leases, Non-accrual With No Allowance for Credit Loss 0 0
Non-accrual loans and leases, Non-accrual With Allowance for Credit Loss 0 0
Non-accrual loans and leases, Loans Past Due Over 89 Days Still Accruing 0 0
Commercial and Industrial    
Financing Receivable, Impaired    
Non-accrual loans and leases, Non-accrual With No Allowance for Credit Loss 10,652 13,125
Non-accrual loans and leases, Non-accrual With Allowance for Credit Loss 14,330 14,651
Non-accrual loans and leases, Loans Past Due Over 89 Days Still Accruing 0 0
Consumer and Other    
Financing Receivable, Impaired    
Non-accrual loans and leases, Non-accrual With No Allowance for Credit Loss 0 0
Non-accrual loans and leases, Non-accrual With Allowance for Credit Loss 0 0
Non-accrual loans and leases, Loans Past Due Over 89 Days Still Accruing $ 0 $ 0
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Schedule of Collateral Dependent commercial and industrial loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Nonaccrual [Line Items]    
Amortized cost basis of non-accrual loans $ 43,960 $ 28,525
Equipment    
Financing Receivable, Nonaccrual [Line Items]    
Amortized cost basis of non-accrual loans 14,615 12,178
Real Estate    
Financing Receivable, Nonaccrual [Line Items]    
Amortized cost basis of non-accrual loans 21,595 7,724
Accounts Receivable    
Financing Receivable, Nonaccrual [Line Items]    
Amortized cost basis of non-accrual loans 7,277 6,570
Other    
Financing Receivable, Nonaccrual [Line Items]    
Amortized cost basis of non-accrual loans $ 473 $ 2,053
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Schedule of Amortized Cost Basis of Loan (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis $ 6,176 $ 14,014
Percentage of total loans 0.18% 0.45%
Principal Forgiveness    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis $ 0 $ 0
Payment Delay    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 13,009
Term Extension    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 455
Interest Rate Reduction    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 294 0
Combination Term Extension and Payment Delay    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 5,882 550
Commercial and Industrial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis $ 6,176 $ 8,113
Percentage of total loans 0.48% 0.70%
Commercial and Industrial | Principal Forgiveness    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis $ 0 $ 0
Commercial and Industrial | Payment Delay    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 7,108
Commercial and Industrial | Term Extension    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 455
Commercial and Industrial | Interest Rate Reduction    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 294 0
Commercial and Industrial | Combination Term Extension and Payment Delay    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 5,882 550
Commercial Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis $ 0 $ 5,901
Percentage of total loans 0.00% 0.31%
Commercial Real Estate | Principal Forgiveness    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis $ 0 $ 0
Commercial Real Estate | Payment Delay    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 5,901
Commercial Real Estate | Term Extension    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 0
Commercial Real Estate | Interest Rate Reduction    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 0
Commercial Real Estate | Combination Term Extension and Payment Delay    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis $ 0 $ 0
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Schedule of Corporation Closely Monitors the Performance of Loans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis $ 6,176 $ 14,014
Commercial and Industrial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 6,176 8,113
Commercial Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 5,901
30-59 Days Past Due    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 0
30-59 Days Past Due | Commercial and Industrial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 0
30-59 Days Past Due | Commercial Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 0
60-89 Days Past Due    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 0
60-89 Days Past Due | Commercial and Industrial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 0
60-89 Days Past Due | Commercial Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 0
Greater Than 90 Days Past Due    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 410
Greater Than 90 Days Past Due | Commercial and Industrial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 410
Greater Than 90 Days Past Due | Commercial Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 0
Total Past Due    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 410
Total Past Due | Commercial and Industrial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis 0 410
Total Past Due | Commercial Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Amortized cost basis $ 0 $ 0
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Schedule of Financial Effect of Loan Modifications Presented to Borrowers Experiencing Financial Difficulty (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Financing Receivable, Modified [Line Items]    
Principal forgiveness $ 6,176 $ 14,014
Weighted average interest rate reduction 2.25% 0.00%
Weighted average term extension (years) 6 months 9 months 10 days
Weighted average payment delay (years) 6 months 1 year 10 months 24 days
Principal Forgiveness    
Financing Receivable, Modified [Line Items]    
Principal forgiveness $ 0 $ 0
Commercial Real Estate    
Financing Receivable, Modified [Line Items]    
Principal forgiveness $ 0 $ 5,901
Weighted average interest rate reduction 0.00% 0.00%
Weighted average term extension (years) 0 years 0 years
Weighted average payment delay (years) 0 years 1 year 2 months 1 day
Commercial Real Estate | Principal Forgiveness    
Financing Receivable, Modified [Line Items]    
Principal forgiveness $ 0 $ 0
Commercial and Industrial    
Financing Receivable, Modified [Line Items]    
Principal forgiveness $ 6,176 $ 8,113
Weighted average interest rate reduction 2.25% 0.00%
Weighted average term extension (years) 6 months 9 months 10 days
Weighted average payment delay (years) 6 months 8 months 23 days
Commercial and Industrial | Principal Forgiveness    
Financing Receivable, Modified [Line Items]    
Principal forgiveness $ 0 $ 0
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Schedule of Amortized Cost Basis of Loans That Had Payment Default (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Principal Forgiveness    
Financing Receivable, Modified, Subsequent Default [Line Items]    
Financing Receivable, Excluding Accrued Interest, Modified, Subsequent Default $ 0 $ 0
Payment Delay    
Financing Receivable, Modified, Subsequent Default [Line Items]    
Financing Receivable, Excluding Accrued Interest, Modified, Subsequent Default 0 753
Term Extension    
Financing Receivable, Modified, Subsequent Default [Line Items]    
Financing Receivable, Excluding Accrued Interest, Modified, Subsequent Default 397 0
Interest Rate Reduction    
Financing Receivable, Modified, Subsequent Default [Line Items]    
Financing Receivable, Excluding Accrued Interest, Modified, Subsequent Default 0 0
Commercial Real Estate | Principal Forgiveness    
Financing Receivable, Modified, Subsequent Default [Line Items]    
Financing Receivable, Excluding Accrued Interest, Modified, Subsequent Default 0 0
Commercial Real Estate | Payment Delay    
Financing Receivable, Modified, Subsequent Default [Line Items]    
Financing Receivable, Excluding Accrued Interest, Modified, Subsequent Default 0 0
Commercial Real Estate | Term Extension    
Financing Receivable, Modified, Subsequent Default [Line Items]    
Financing Receivable, Excluding Accrued Interest, Modified, Subsequent Default 0 0
Commercial Real Estate | Interest Rate Reduction    
Financing Receivable, Modified, Subsequent Default [Line Items]    
Financing Receivable, Excluding Accrued Interest, Modified, Subsequent Default 0 0
Commercial and Industrial | Principal Forgiveness    
Financing Receivable, Modified, Subsequent Default [Line Items]    
Financing Receivable, Excluding Accrued Interest, Modified, Subsequent Default 0 0
Commercial and Industrial | Payment Delay    
Financing Receivable, Modified, Subsequent Default [Line Items]    
Financing Receivable, Excluding Accrued Interest, Modified, Subsequent Default 0 753
Commercial and Industrial | Term Extension    
Financing Receivable, Modified, Subsequent Default [Line Items]    
Financing Receivable, Excluding Accrued Interest, Modified, Subsequent Default 397 0
Commercial and Industrial | Interest Rate Reduction    
Financing Receivable, Modified, Subsequent Default [Line Items]    
Financing Receivable, Excluding Accrued Interest, Modified, Subsequent Default $ 0 $ 0
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Summary of Activity in Allowance for Credit Losses by Portfolio Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Allowance for credit losses roll-forward                      
Beginning balance       $ 37,268       $ 32,997 $ 37,268 $ 32,997 $ 24,230
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest $ 35,877       $ 35,785       35,877 35,785 31,275
Charge-offs                 (9,665) (5,255) (1,781)
Recoveries                 1,434 699 548
Net recoveries (charge offs)                 (8,231) (4,556) (1,233)
Provision for credit losses 1,855 $ 1,440 $ 2,701 2,659 2,701 $ 2,087 $ 1,713 2,326 8,655 8,827 8,182
Ending balance 37,692       37,268       37,692 37,268 32,997
Allowance for credit losses on unfunded credit commitments 1,815       1,483       1,815 1,483 1,722
Impact of adopting ASC 326                      
Allowance for credit losses roll-forward                      
Beginning balance                     1,818
Commercial Real Estate | Owner Occupied                      
Allowance for credit losses roll-forward                      
Beginning balance       1,629       1,540 1,629 1,540 1,766
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 1,902       1,615       1,902 1,615 1,525
Charge-offs                 0 0 0
Recoveries                 2 5 9
Net recoveries (charge offs)                 2 5 9
Provision for credit losses                 277 84 (31)
Ending balance 1,908       1,629       1,908 1,629 1,540
Allowance for credit losses on unfunded credit commitments 6       14       6 14 15
Commercial Real Estate | Owner Occupied | Impact of adopting ASC 326                      
Allowance for credit losses roll-forward                      
Beginning balance                     (204)
Commercial Real Estate | Non-owner Occupied                      
Allowance for credit losses roll-forward                      
Beginning balance       5,892       5,636 5,892 5,636 5,108
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 6,306       5,843       6,306 5,843 5,596
Charge-offs                 0 0 0
Recoveries                 0 0 1
Net recoveries (charge offs)                 0 0 1
Provision for credit losses                 489 256 769
Ending balance 6,381       5,892       6,381 5,892 5,636
Allowance for credit losses on unfunded credit commitments 75       49       75 49 40
Commercial Real Estate | Non-owner Occupied | Impact of adopting ASC 326                      
Allowance for credit losses roll-forward                      
Beginning balance                     (242)
Commercial Real Estate | Construction and land development                      
Allowance for credit losses roll-forward                      
Beginning balance       2,826       2,125 2,826 2,125 1,646
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 1,871       2,022       1,871 2,022 1,244
Charge-offs                 0 0 0
Recoveries                 0 0 0
Net recoveries (charge offs)                 0 0 0
Provision for credit losses                 (74) 701 (317)
Ending balance 2,752       2,826       2,752 2,826 2,125
Allowance for credit losses on unfunded credit commitments 881       804       881 804 881
Commercial Real Estate | Construction and land development | Impact of adopting ASC 326                      
Allowance for credit losses roll-forward                      
Beginning balance                     796
Commercial Real Estate | Multi-family                      
Allowance for credit losses roll-forward                      
Beginning balance       4,613       3,571 4,613 3,571 2,634
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 4,915       4,597       4,915 4,597 3,562
Charge-offs                 0 0 0
Recoveries                 0 0 0
Net recoveries (charge offs)                 0 0 0
Provision for credit losses                 313 1,042 1,323
Ending balance 4,926       4,613       4,926 4,613 3,571
Allowance for credit losses on unfunded credit commitments 11       16       11 16 9
Commercial Real Estate | Multi-family | Impact of adopting ASC 326                      
Allowance for credit losses roll-forward                      
Beginning balance                     (386)
Commercial Real Estate | 1-4 Family                      
Allowance for credit losses roll-forward                      
Beginning balance       523       266 523 266 207
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 521       492       521 492 243
Charge-offs                 0 0 0
Recoveries                 25 132 40
Net recoveries (charge offs)                 25 132 40
Provision for credit losses                 9 125 64
Ending balance 557       523       557 523 266
Allowance for credit losses on unfunded credit commitments 36       31       36 31 23
Commercial Real Estate | 1-4 Family | Impact of adopting ASC 326                      
Allowance for credit losses roll-forward                      
Beginning balance                     (45)
Commercial and Industrial                      
Allowance for credit losses roll-forward                      
Beginning balance       21,470       19,408 21,470 19,408 12,403
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 19,989       20,934       19,989 20,934 18,710
Charge-offs                 (9,651) (5,233) (1,781)
Recoveries                 1,407 541 478
Net recoveries (charge offs)                 (8,244) (4,692) (1,303)
Provision for credit losses                 7,528 6,754 6,435
Ending balance 20,754       21,470       20,754 21,470 19,408
Allowance for credit losses on unfunded credit commitments 765       536       765 536 698
Commercial and Industrial | Impact of adopting ASC 326                      
Allowance for credit losses roll-forward                      
Beginning balance                     1,873
Consumer and Other                      
Allowance for credit losses roll-forward                      
Beginning balance       $ 315       $ 451 315 451 466
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 373       282       373 282 395
Charge-offs                 (14) (22) 0
Recoveries                 0 21 20
Net recoveries (charge offs)                 (14) (1) 20
Provision for credit losses                 113 (135) (61)
Ending balance 414       315       414 315 451
Allowance for credit losses on unfunded credit commitments $ 41       $ 33       $ 41 $ 33 56
Consumer and Other | Impact of adopting ASC 326                      
Allowance for credit losses roll-forward                      
Beginning balance                     $ 26
v3.25.4
Loans, Lease Receivables, and Allowance for Credit Losses - Allowance for Credit Losses and Balances by Type of Allowance Methodology (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses      
Allowance for credit losses, collectively evaluated for impairment $ 30,327 $ 26,867  
Allowance for credit losses, individually evaluated for impairment 5,550 8,918  
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 35,877 35,785 $ 31,275
Loans and lease receivables, collectively evaluated for impairment 3,331,372 3,085,483  
Loans and lease receivables, individually evaluated for impairment 43,855 28,367  
Loans and Leases Receivable, before Fees, Gross 3,375,227 3,113,850  
Commercial Real Estate      
Financing Receivable, Allowance for Credit Losses      
Loans and Leases Receivable, before Fees, Gross 2,060,265 1,917,130  
Commercial Real Estate | Owner Occupied      
Financing Receivable, Allowance for Credit Losses      
Allowance for credit losses, collectively evaluated for impairment 1,902 1,615  
Allowance for credit losses, individually evaluated for impairment 0 0  
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 1,902 1,615 1,525
Loans and lease receivables, collectively evaluated for impairment 293,706 272,806  
Loans and lease receivables, individually evaluated for impairment 0 591  
Loans and Leases Receivable, before Fees, Gross 293,706 273,397  
Commercial Real Estate | Non-owner Occupied      
Financing Receivable, Allowance for Credit Losses      
Allowance for credit losses, collectively evaluated for impairment 6,306 5,843  
Allowance for credit losses, individually evaluated for impairment 0 0  
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 6,306 5,843 5,596
Loans and lease receivables, collectively evaluated for impairment 885,870 845,298  
Loans and lease receivables, individually evaluated for impairment 0 0  
Loans and Leases Receivable, before Fees, Gross 885,870 845,298  
Commercial Real Estate | Construction and land development      
Financing Receivable, Allowance for Credit Losses      
Allowance for credit losses, collectively evaluated for impairment 1,871 2,022  
Allowance for credit losses, individually evaluated for impairment 0 0  
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 1,871 2,022 1,244
Loans and lease receivables, collectively evaluated for impairment 233,979 221,086  
Loans and lease receivables, individually evaluated for impairment 14,581 0  
Loans and Leases Receivable, before Fees, Gross 248,560 221,086  
Commercial Real Estate | Multi-family      
Financing Receivable, Allowance for Credit Losses      
Allowance for credit losses, collectively evaluated for impairment 4,915 4,597  
Allowance for credit losses, individually evaluated for impairment 0 0  
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 4,915 4,597 3,562
Loans and lease receivables, collectively evaluated for impairment 567,176 530,853  
Loans and lease receivables, individually evaluated for impairment 4,292 0  
Loans and Leases Receivable, before Fees, Gross 571,468 530,853  
Commercial Real Estate | 1-4 Family      
Financing Receivable, Allowance for Credit Losses      
Allowance for credit losses, collectively evaluated for impairment 521 492  
Allowance for credit losses, individually evaluated for impairment 0 0  
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 521 492 243
Loans and lease receivables, collectively evaluated for impairment 60,661 46,496  
Loans and lease receivables, individually evaluated for impairment 0 0  
Loans and Leases Receivable, before Fees, Gross 60,661 46,496  
Commercial and Industrial      
Financing Receivable, Allowance for Credit Losses      
Allowance for credit losses, collectively evaluated for impairment 14,439 12,016  
Allowance for credit losses, individually evaluated for impairment 5,550 8,918  
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 19,989 20,934 18,710
Loans and lease receivables, collectively evaluated for impairment 1,249,015 1,123,944  
Loans and lease receivables, individually evaluated for impairment 24,982 27,776  
Loans and Leases Receivable, before Fees, Gross 1,273,997 1,151,720  
Consumer and Other      
Financing Receivable, Allowance for Credit Losses      
Allowance for credit losses, collectively evaluated for impairment 373 282  
Allowance for credit losses, individually evaluated for impairment 0 0  
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest 373 282 $ 395
Loans and lease receivables, collectively evaluated for impairment 40,965 45,000  
Loans and lease receivables, individually evaluated for impairment 0 0  
Loans and Leases Receivable, before Fees, Gross $ 40,965 $ 45,000  
v3.25.4
Premises and Equipment - Summary of Premises and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Abstract]    
Leasehold improvements $ 5,572 $ 5,572
Furniture and equipment 10,068 9,480
Total premises and equipment 15,640 15,052
Less: accumulated depreciation (10,971) (9,825)
Total premises and equipment, net $ 4,669 $ 5,227
v3.25.4
Premises and Equipment - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Abstract]      
Depreciation $ 1,200,000 $ 1,100,000 $ 961,000
v3.25.4
Leases - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Lessee, Lease, Description [Line Items]    
Lease liabilities $ 7,361,000 $ 7,926,000
Northeast region office    
Lessee, Lease, Description [Line Items]    
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability, New Operating Leases During the Year 522,000  
Lease liabilities 590,000  
Tenant Improvement Allowance Recognized as a Lease Incentive $ 68,000  
v3.25.4
Leases - Components of Lease expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating lease cost $ 1,342 $ 1,366 $ 1,411
Short-term lease cost 171 140 200
Variable lease cost 545 572 576
Less: sublease income 0 0 (75)
Total lease cost, net $ 2,058 $ 2,078 $ 2,112
v3.25.4
Leases - Operating Lease Quantitative Information (Details)
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Weighted-average remaining lease term (in years) 6 years 6 years 11 months 4 days 7 years 8 months 12 days
Weighted-average discount rate 4.04% 3.37% 3.61%
v3.25.4
Leases - Maturity of Operating Lease Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
2026 $ 1,623  
2027 1,647  
2028 1,285  
2029 933  
2030 841  
Thereafter 2,001  
Total undiscounted cash flows 8,330  
Discount on cash flows (969)  
Total lease liability $ 7,361 $ 7,926
v3.25.4
Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Goodwill $ 10.7 $ 10.7
Loan servicing asset $ 1.3 $ 1.2
Discount rate 13.00% 13.75%
Constant prepayment rate 16.64% 16.05%
v3.25.4
Goodwill and Other Intangible Assets - Schedule of Servicing Asset and Related Valuation Allowance (Details) - Loan Servicing Rights - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Servicing Asset at Amortized Cost [Line Items]      
Carrying amount, net, beginning of year $ 1,245 $ 1,356 $ 1,492
Additions 400 390 437
Amortization (297) (537) (500)
Change in valuation allowance (31) 36 (73)
Carrying amount, net, end of year 1,317 1,245 1,356
Beginning of year 52 88 15
Change in valuation allowance 31 (36) 73
End of year $ 83 $ 52 $ 88
v3.25.4
Other Assets - Additional Information (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Project
Fund
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Schedule of Equity Method Investments      
Amortization of tax credit investments $ 5,669 $ 5,992 $ 4,053
Investment in limited partnerships $ 68,367 59,072  
Number of Low Income Housing Tax Credit Project | Project 12    
Number of Historic Rehabilitation Tax Credit Fund | Fund 5    
SBIC Funds      
Schedule of Equity Method Investments      
Income from Equity Method Investments $ 1,200 $ 1,900 $ 5,100
v3.25.4
Other Assets - Summary of Investment In and Unfunded Commitments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Investment:    
Low-Income Housing Tax Credit $ 48,472 $ 40,259
Small Business Investment Company 14,797 12,949
Other Limited Partnerships 3,128 1,731
Historic Rehabilitation Tax Credit 1,970 4,133
Total limited partnership investments 68,367 59,072
Unfunded commitment:    
Small Business Investment Company 10,973 8,857
Other Limited Partnerships 1,542 1,233
Total limited partnership commitments $ 12,515 $ 10,090
v3.25.4
Other Assets - Summary of Accrued Interest Receivable and Other Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Accrued interest receivable $ 13,100 $ 12,879
Net deferred tax asset 13,176 12,599
Investment in limited partnerships 68,367 59,072
Prepaid expenses 4,791 4,221
Other assets 8,038 10,288
Total accrued interest receivable and other assets $ 107,472 $ 99,059
v3.25.4
Deposits - Composition Of Deposits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Deposits    
Deposits $ 3,380,415 $ 3,107,140
Average balance, deposits 3,269,082 2,893,661
Non-interest-bearing transaction accounts    
Deposits    
Deposits 378,770 436,111
Average balance, deposits 419,691 441,313
Interest-bearing transaction accounts    
Deposits    
Deposits 1,103,696 965,637
Average balance, deposits 1,018,736 884,321
Money market accounts    
Deposits    
Deposits 905,773 809,695
Average balance, deposits 856,554 815,603
Certificates of deposit    
Deposits    
Deposits 284,764 184,986
Average balance, deposits 236,848 237,228
Wholesale deposits    
Deposits    
Deposits 707,412 710,711
Average balance, deposits $ 737,253 $ 515,196
v3.25.4
Deposits - Time Deposits by Maturity (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Deposits [Abstract]  
Time Deposit Maturities, Year One $ 635,641
Time Deposit Maturities, Year Two 127,620
Time Deposit Maturities, Year Three 31,279
Time Deposit Maturities, Year Four 18,462
Time Deposit Maturities, Year Five 7,635
Time Deposit Maturities, after Year Five 1,270
Time Deposits $ 821,907
v3.25.4
Deposits - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Deposits    
Deposits, carrying amount $ 3,380,415 $ 3,107,140
Designated as Hedging Instrument | Interest rate swap related to certificate of deposits    
Deposits    
Derivative Asset, Notional Amount $ 449,100 $ 416,300
Derivative Asset, Average Remaining Maturity 3 years 3 months 14 days 3 years 7 months 24 days
Derivative Asset, Weighted Average Rate 3.67% 3.81%
Wholesale Certificates of Deposit    
Deposits    
Deposits, carrying amount $ 537,100 $ 515,600
Non-Reciprocal Interest-Bearing Transaction Accounts    
Deposits    
Deposits, carrying amount 170,300 195,100
Certificates of Deposits and Wholesale Deposits    
Deposits    
Time Deposits, $250,000 or More $ 113,000 $ 67,300
v3.25.4
FHLB Advances, Other Borrowings and Subordinated Notes and Debentures - Composition of Borrowed Funds (Details) - USD ($)
$ in Thousands
 12 Months Ended
Sep. 13, 2024
Aug. 15, 2024
Dec. 31, 2025
Dec. 31, 2024
Composition of Borrowed Funds        
Borrowed funds     $ 252,051 $ 320,049
Borrowed funds, average balance     $ 301,233 $ 333,509
Borrowed funds, interest rate during period     3.79% 3.30%
FHLB Advances        
Composition of Borrowed Funds        
Borrowed funds     $ 197,246 $ 265,350
Borrowed funds, average balance     $ 246,486 $ 282,437
Borrowed funds, interest rate during period     3.20% 2.73%
Line of Credit        
Composition of Borrowed Funds        
Borrowed funds     $ 0 $ 0
Borrowed funds, average balance     $ 1 $ 1,229
Borrowed funds, interest rate during period     4.25% 8.03%
Other Borrowings        
Composition of Borrowed Funds        
Borrowed funds     $ 0 $ 10
Borrowed funds, average balance     $ 4 $ 10
Borrowed funds, interest rate during period     0.00% 0.00%
Subordinated Notes and Debentures        
Composition of Borrowed Funds        
Borrowed funds     $ 54,805 $ 54,689
Borrowed funds, average balance     $ 54,742 $ 49,833
Borrowed funds, interest rate during period 7.50% 5.50% 6.43% 6.36%
v3.25.4
FHLB Advances, Other Borrowings and Subordinated Notes and Debentures - Summary of Annual Maturities of Borrowings (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Disclosure [Abstract]    
2026 $ 125,234  
2027 10,000  
2028 10,450  
2029 23,929  
2030 20,000  
Thereafter 62,438  
Borrowed funds $ 252,051 $ 320,049
v3.25.4
FHLB Advances, Other Borrowings and Subordinated Notes and Debentures - Additional Information (Details) - USD ($)
 12 Months Ended
Sep. 13, 2024
Aug. 15, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Short-term Debt [Line Items]          
Borrowed funds     $ 252,051,000 $ 320,049,000  
Credit line renewal terms     On February 18, 2026, the credit line was renewed for one additional year with pricing terms of 1-month term SOFR + 2.36% and a maturity date of February 17, 2027.    
Line of credit maturity date     Feb. 17, 2027    
Interest rate     3.79% 3.30%  
Total gross loans and leases receivable     $ 3,375,227,000 $ 3,113,850,000  
Line of credit commitment fee     13,000 13,000 $ 13,000
Debt issuance costs remaining     195,000    
FHLB Advances and Other Borrowings          
Short-term Debt [Line Items]          
Federal Home Loan Bank line of credit maximum available     791,100,000    
Federal Home Loan Bank unused line remaining     529,500,000    
Borrowed funds     197,200,000 265,400,000  
Total gross loans and leases receivable     $ 1,443,000,000 $ 1,298,000,000  
Maximum | FHLB Advances and Other Borrowings          
Short-term Debt [Line Items]          
Interest rate     4.95% 4.95%  
Minimum | FHLB Advances and Other Borrowings          
Short-term Debt [Line Items]          
Interest rate     2.09% 1.19%  
Interest Rate Swap Related to FHLB Borrowings | Designated as Hedging Instrument          
Short-term Debt [Line Items]          
Derivative notional amount     $ 48,400,000    
Derivatives weighted average remaining maturity     2 years 1 month 13 days    
Derivatives weighted average rate     2.52%    
Subordinated Notes          
Short-term Debt [Line Items]          
Borrowed funds     $ 54,805,000 $ 54,689,000  
Debt redeem and replace amount   $ 15,000,000      
Interest rate 7.50% 5.50% 6.43% 6.36%  
Debt instruments issued $ 20,000,000        
Maturity date Sep. 13, 2034        
Debt issuance costs remaining     $ 44,000    
Line of Credit          
Short-term Debt [Line Items]          
Federal Home Loan Bank line of credit maximum available     10,500,000    
Borrowed funds     $ 0    
v3.25.4
Preferred Stock - Additional Information (Details) - USD ($)
 12 Months Ended
Mar. 04, 2022
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Class of Stock [Line Items]        
Preferred stock, shares issued 12,500 12,500 12,500  
Aggregate liquidation preference $ 12,500,000      
Preferred stock, dividend rate, percentage 7.00% 7.00% 7.00%  
Preferred stock, par value   $ 0.01 $ 0.01  
Preferred stock dividend   $ 875,000 $ 875,000 $ 875,000
Series A Preferred Stock        
Class of Stock [Line Items]        
Preferred stock, dividend rate, percentage 7.00%      
Preferred stock, par value $ 0.01      
Preferred stock, liquidation preference per share $ 1,000 $ 1,000    
Proceeds from issuance of preferred stock $ 12,000,000      
Preferred stock dividend   $ 875,000 $ 875,000  
Preferred stock dividend payable at floating rate   5.39%    
v3.25.4
Regulatory Capital - Additional Information (Details)
$ in Billions
 12 Months Ended
Dec. 31, 2025
USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]  
Description of Material Affects of Noncompliance Failure to meet minimum capital requirements can result in certain mandatory, and possibly additional discretionary actions on the part of regulators, that if undertaken, could have a direct material effect on the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory practices.
Common equity tier 1 capital to risk-weighted assets minimum ratio 0.045
Total capital to risk weighted assets minimum ratio 0.08
Tier 1 leverage capital ratio 0.04
Permit banking assets $ 15
Corporation comply conservation buffer ratio 0.025
Minimum  
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]  
Tier I capital to risk-weighted assets minimum ratio 0.04
Maximum  
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]  
Non publicly traded bank holding companies consolidated assets $ 1
Tier I capital to risk-weighted assets minimum ratio 0.06
v3.25.4
Regulatory Capital - Regulatory Capital Ratios (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations    
Total capital $ 463,447 $ 421,639
Total capital to risk-weighted assets 0.1224 0.1208
Total capital, Minimum Required for Capital Adequacy Purposes $ 302,917 $ 279,330
Total capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes 0.08 0.08
Capital Required for Capital Adequacy Plus Capital Conservation Buffer $ 397,578 $ 366,621
Capital Required for Capital Adequacy Plus Conservation Buffer to Risk Weighted Assets 10.50% 10.50%
Tier 1 capital $ 370,786 $ 329,796
Tier 1 capital to risk-weighted assets 0.0979 0.0945
Tier 1 capital, Minimum Required for Capital Adequacy Purposes $ 227,188 $ 209,498
Tier 1 capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes 0.06 0.06
Tier One Risk Based Capital Required for Capital Adequacy Plus Capital Conservation Buffer $ 321,849 $ 296,788
Tier One Risk Based Capital Required for Capital Adequacy Plus Conservation Buffer to Risk Weighted Assets 8.50% 8.50%
Common equity tier 1 capital $ 358,794 $ 317,804
Common equity tier 1 capital to risk-weighted assets 9.48% 9.10%
Common equity tier 1 capital, Minimum Required for Capital Adequacy Purposes $ 170,391 $ 157,123
Common equity tier 1 capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes 4.50% 4.50%
Common Equity Tier One Capital Required for Capital Adequacy Plus Capital Conservation Buffer $ 265,052 $ 244,414
Common Equity Tier One Capital Required for Capital Adequacy Plus Conservation Buffer to Risk Weighted Assets 7.00% 7.00%
Tier 1 leverage capital $ 370,786 $ 329,796
Tier 1 leverage capital to average assets 0.0886 0.0878
Tier 1 leverage capital, Minimum Required for Capital Adequacy Purposes $ 167,376 $ 150,256
Tier 1 leverage capital to average assets, Minimum Required for Capital Adequacy Purposes 0.04 0.04
Tier One Leverage Capital Required for Capital Adequacy Plus Capital Conservation Buffer $ 167,376 $ 150,256
Tier One Leverage Capital Required for Capital Adequacy Plus Conservation Buffer to Risk Weighted Assets 4.00% 4.00%
First Business Bank    
Compliance with Regulatory Capital Requirements under Banking Regulations    
Total capital $ 460,423 $ 417,965
Total capital to risk-weighted assets 0.1216 0.1197
Total capital, Minimum Required for Capital Adequacy Purposes $ 302,929 $ 279,342
Total capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes 0.08 0.08
Capital Required for Capital Adequacy Plus Capital Conservation Buffer $ 397,594 $ 366,626
Capital Required for Capital Adequacy Plus Conservation Buffer to Risk Weighted Assets 10.50% 10.50%
Total capital, Minimum Required to be Well Capitalized Under Prompt Corrective Action Requirements $ 378,661 $ 349,177
Total capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Requirements 0.10 0.10
Tier 1 capital $ 422,567 $ 380,811
Tier 1 capital to risk-weighted assets 0.1116 0.1091
Tier 1 capital, Minimum Required for Capital Adequacy Purposes $ 227,197 $ 209,506
Tier 1 capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes 0.06 0.06
Tier One Risk Based Capital Required for Capital Adequacy Plus Capital Conservation Buffer $ 321,862 $ 296,801
Tier One Risk Based Capital Required for Capital Adequacy Plus Conservation Buffer to Risk Weighted Assets 8.50% 8.50%
Tier 1 capital, Minimum Required to be Well Capitalized Under Prompt Corrective Action Requirements $ 302,929 $ 279,342
Tier 1 capital to risk weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Requirements 0.08 0.08
Common equity tier 1 capital $ 422,567 $ 380,811
Common equity tier 1 capital to risk-weighted assets 11.16% 10.91%
Common equity tier 1 capital, Minimum Required for Capital Adequacy Purposes $ 170,398 $ 157,130
Common equity tier 1 capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes 4.50% 4.50%
Common Equity Tier One Capital Required for Capital Adequacy Plus Capital Conservation Buffer $ 265,063 $ 244,424
Common Equity Tier One Capital Required for Capital Adequacy Plus Conservation Buffer to Risk Weighted Assets 7.00% 7.00%
Common equity tier 1 capital, Minimum Required to Be Well Capitalized Under Prompt Corrective Action Requirements $ 246,130 $ 226,965
Common equity tier 1 capital to risk-weighted assets, Minimum Required to Be Well Capitalized Under Prompt Corrective Action Requirements 6.50% 6.50%
Tier 1 leverage capital $ 422,567 $ 380,811
Tier 1 leverage capital to average assets 0.1011 0.1014
Tier 1 leverage capital, Minimum Required for Capital Adequacy Purposes $ 167,237 $ 150,207
Tier 1 leverage capital to average assets, Minimum Required for Capital Adequacy Purposes 0.04 0.04
Tier One Leverage Capital Required for Capital Adequacy Plus Capital Conservation Buffer $ 167,237 $ 150,207
Tier One Leverage Capital Required for Capital Adequacy Plus Conservation Buffer to Risk Weighted Assets 4.00% 4.00%
Tier 1 leverage capital, Minimum Required to be Well Capitalized Under Prompt Corrective Action Requirements $ 209,046 $ 187,759
Tier 1 leverage capital to average assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Requirements 0.05 0.05
v3.25.4
Regulatory Capital - Regulatory Capital Ratios (Parenthetical) (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Capital $ 463,447,000 $ 421,639,000
ASC 326    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Capital $ 337,000 $ 676,000
v3.25.4
Regulatory Capital - Reconciliation of Stockholders' Equity to Federal Regulatory Capital (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]        
Stockholders' equity of the Corporation $ 371,585 $ 328,589 $ 289,588 $ 260,640
Net unrealized and accumulated losses on specific items 9,740 11,425    
Disallowed servicing assets (505) (514)    
Disallowed goodwill and other intangibles (10,371) (10,380)    
ASC 326 Phase-in 337 676    
Tier 1 capital 370,786 329,796    
Allowable general valuation allowances and subordinated debt 92,661 91,843    
Total Capital $ 463,447 $ 421,639    
v3.25.4
Earnings Per Common Share - Summary of Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Basic earnings per common share                      
Net income $ 13,333 $ 14,393 $ 11,422 $ 11,171 $ 14,415 $ 10,526 $ 10,456 $ 8,848 $ 50,319 $ 44,245 $ 37,027
Less: preferred stock dividends                 875 875 875
Less: earnings allocated to participating securities                 953 1,033 938
Basic earnings allocated to common shareholders                 $ 48,491 $ 42,337 $ 35,214
Weighted-average common shares outstanding, excluding participating securities                 8,158,208 8,148,259 8,131,251
Basic earnings per common share $ 1.58 $ 1.7 $ 1.35 $ 1.32 $ 1.71 $ 1.24 $ 1.23 $ 1.04 $ 5.94 $ 5.2 $ 4.33
Diluted earnings per common share                      
Earnings allocated to common shareholders, diluted                 $ 48,491 $ 42,337 $ 35,214
Weighted-average diluted common shares outstanding, excluding participating securities                 8,158,208 8,148,259 8,131,251
Diluted earnings per common share $ 1.58 $ 1.7 $ 1.35 $ 1.32 $ 1.71 $ 1.24 $ 1.23 $ 1.04 $ 5.94 $ 5.2 $ 4.33
v3.25.4
Share-Based Compensation - Additional Information (Details) - shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Share-based compensation arrangement by share-based payment award, number of shares available for grant 186,821  
Issuance of common stock under the employee stock purchase plan, shares 3,115 3,832
Restricted Stock | Minimum    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Award vesting period 3 years  
Requisite service and performance period 3 years  
Restricted Stock | Maximum    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Award vesting period 4 years  
Requisite service and performance period 4 years  
Performance-Based Restricted Stock Units    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Award vesting period 3 years  
Requisite service and performance period 3 years  
Performance-Based Restricted Stock Units | Minimum    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Percentage of target shares granted 0.00%  
Performance-Based Restricted Stock Units | Maximum    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Percentage of target shares granted 200.00%  
Employee Stock Purchase Plan    
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Share-based compensation arrangement by share-based payment award, number of shares available for grant 223,691 226,806
Shares authorized for issuance 250,000  
Purchase price of common stock, percentage on fair value 90.00%  
v3.25.4
Share-Based Compensation - Summary of Restricted Stock Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of restricted shares/units, Nonvested beginning balance 158,687 185,093 196,857
Number of restricted shares/units, Granted 57,984 93,331 89,795
Number of restricted shares/units, Vested (68,481) (102,986) (96,304)
Number of restricted shares/units, Forfeited (3,444) (16,751) (5,255)
Number of restricted shares/units, Nonvested ending balance 144,746 158,687 185,093
Weighted Average Grant Price, Nonvested beginning balance $ 36.77 $ 32.38 $ 29.32
Weighted Average Grant Price, Granted 53.92 31.71 34.96
Weighted Average Grant Price, Vested 37.21 24.57 28.6
Weighted Average Grant Price, Forfeited 40.79 33.18 31.17
Weighted Average Grant Price, Nonvested ending balance $ 43.87 $ 36.77 $ 32.38
Unrecognized compensation cost $ 3,813    
Weighted average remaining recognition period (in years) 2 years 21 days    
Restricted Stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of restricted shares/units, Nonvested beginning balance 28,896 71,951 133,317
Number of restricted shares/units, Granted 0 0 0
Number of restricted shares/units, Vested (20,280) (35,131) (56,931)
Number of restricted shares/units, Forfeited (976) (7,924) (4,435)
Number of restricted shares/units, Nonvested ending balance 7,640 28,896 71,951
Weighted Average Grant Price, Nonvested beginning balance $ 30.09 $ 28.53 $ 27.95
Weighted Average Grant Price, Granted 0 0 0
Weighted Average Grant Price, Vested 28.74 26.86 27.03
Weighted Average Grant Price, Forfeited 33.6 29.75 30.2
Weighted Average Grant Price, Nonvested ending balance $ 33.76 $ 30.09 $ 28.53
Unrecognized compensation cost $ 47    
Weighted average remaining recognition period (in years) 3 months 3 days    
Performance Shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of restricted shares/units, Nonvested beginning balance 49,630 56,155 57,435
Number of restricted shares/units, Granted 12,195 27,614 34,840
Number of restricted shares/units, Vested (15,825) (34,139) (36,120)
Number of restricted shares/units, Forfeited 0 0 0
Number of restricted shares/units, Nonvested ending balance 46,000 49,630 56,155
Weighted Average Grant Price, Nonvested beginning balance $ 42.24 $ 35.7 $ 32.89
Weighted Average Grant Price, Granted 63.61 34.76 35.79
Weighted Average Grant Price, Vested 42.7 25.43 31.31
Weighted Average Grant Price, Forfeited 0 0 0
Weighted Average Grant Price, Nonvested ending balance $ 47.31 $ 42.24 $ 35.7
Unrecognized compensation cost $ 944    
Weighted average remaining recognition period (in years) 1 year 8 months 1 day    
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of restricted shares/units, Nonvested beginning balance 80,161 56,987 6,105
Number of restricted shares/units, Granted 45,789 65,717 54,955
Number of restricted shares/units, Vested (32,376) (33,716) (3,253)
Number of restricted shares/units, Forfeited (2,468) (8,827) (820)
Number of restricted shares/units, Nonvested ending balance 91,106 80,161 56,987
Weighted Average Grant Price, Nonvested beginning balance $ 36.04 $ 33.97 $ 25.92
Weighted Average Grant Price, Granted 51.39 30.43 34.43
Weighted Average Grant Price, Vested 37.56 21.25 26.06
Weighted Average Grant Price, Forfeited 41.48 36.25 36.42
Weighted Average Grant Price, Nonvested ending balance $ 43.03 $ 36.04 $ 33.97
Unrecognized compensation cost $ 2,822    
Weighted average remaining recognition period (in years) 2 years 1 month 6 days    
v3.25.4
Share-Based Compensation - Summary of Restricted Stock Activity (Parenthetical) (Details)
 12 Months Ended
Dec. 31, 2025
shares
Performance Shares  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Additional shares issued 13,427
v3.25.4
Share-Based Compensation - Summary of Share-Based Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]      
Share-based compensation $ 2,800 $ 2,785 $ 2,977
v3.25.4
Employee Benefit Plans - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Retirement Benefits [Abstract]      
Defined contribution maximum annual matching contribution per employee, percent 3.00%    
Defined contribution maximum annual discretionary contribution per employee, percent 6.00%    
Defined contribution plan, employer matching contribution, percent 3.00%    
Defined contribution plan employer matching contribution $ 1,300,000 $ 1,200,000 $ 1,200,000
Defined contribution plan employer discretionary contribution percent 4.34% 4.34% 5.87%
Defined contribution plan, employer discretionary contribution amount $ 1,800,000 $ 1,700,000 $ 2,100,000
Defined contribution plan generally payable term 10 years    
Deferred compensation plan compensation expense $ 977,000 523,000 $ 493,000
Present value of future payments under the remaining deferred compensation plan liability $ 4,300,000 $ 3,300,000  
v3.25.4
Employee Benefit Plans - Bank Owned Life Insurance - Additional Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Bank Owned Life Insurance [Line Items]    
Bank-owned life insurance $ 83,994 $ 57,210
Bank owned life insurance death benefits 180,100 133,800
Insured executive officers with deferred compensation plans    
Bank Owned Life Insurance [Line Items]    
Bank-owned life insurance 3,400 3,200
Bank owned life insurance death benefits 6,300 6,200
Other insured individuals    
Bank Owned Life Insurance [Line Items]    
Bank-owned life insurance $ 80,600 $ 54,000
v3.25.4
Income Taxes - Schedule of Components of Income Tax Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]                      
Income from continuing operations before income tax expense (benefit) $ 16,238 $ 17,386 $ 13,370 $ 13,459 $ 15,300 $ 12,877 $ 12,373 $ 10,600 $ 60,453 $ 51,150 $ 47,139
Current tax expense                      
Federal                 10,263 8,783 7,759
State                 1,428 1,635 233
Total current tax expense                 11,691 10,418 7,992
Deferred tax expense (benefit)                      
Federal                 (1,608) (1,263) (716)
State                 51 (2,250) 2,836
Total deferred tax (benefit) expense                 (1,557) (3,513) 2,120
Total income tax expense (benefit)                      
Total income tax expense $ 2,905 $ 2,993 $ 1,948 $ 2,288 $ 885 $ 2,351 $ 1,917 $ 1,752 $ 10,134 $ 6,905 $ 10,112
v3.25.4
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount                      
Tax expense at statutory federal rate of 21%                 $ 12,695 $ 10,741 $ 9,899
State income tax, net of federal effect                 1,204 (447) 2,514
Tax credits                      
Low-income housing tax credits                 (1,760) (1,451) (1,151)
Other                 (329) (336) 0
Nontaxable or nondeductible items                      
Tax-exempt security and loan income, net of TEFRA adjustment                 (1,186) (1,201) (856)
Other                 (453) (491) (124)
Other adjustments                 (37) 90 (170)
Total income tax expense $ 2,905 $ 2,993 $ 1,948 $ 2,288 $ 885 $ 2,351 $ 1,917 $ 1,752 $ 10,134 $ 6,905 $ 10,112
Percent                      
Tax expense at statutory federal rate of 21%                 21.00% 21.00% 21.00%
State income tax, net of federal effect                 2.00% (0.90%) 5.30%
Tax credits                      
Low-income housing tax credits                 (2.90%) (2.80%) (2.40%)
Other                 (0.50%) (0.70%) 0.00%
Nontaxable or nondeductible items                      
Tax-exempt security and loan income, net of TEFRA adjustment                 (2.00%) (2.30%) (1.80%)
Other                 (0.70%) (1.00%) (0.30%)
Other adjustments                 (0.10%) 0.20% (0.30%)
Effective tax rate                 16.80% 13.50% 21.50%
v3.25.4
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Parenthetical) (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Statutory federal rate 21.00% 21.00% 21.00%
v3.25.4
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Allowance for credit losses $ 9,872 $ 9,820
Deferred compensation 3,053 2,511
State net operating loss carryforwards 356 687
Write-down of repossessed assets 25 31
Non-accrual loan interest 805 222
Lease liability 1,929 2,090
Unrealized losses on securities 3,156 4,136
Share-based compensation 911 761
Other 162 154
Total deferred tax assets before valuation allowance 20,269 20,412
Valuation allowance (1,460) (1,568)
Total deferred tax assets 18,809 18,844
Deferred tax liabilities:    
Leasing and fixed asset activities 1,242 1,361
Loan servicing asset 345 328
Right-of-use asset 1,393 1,503
Investment in partnerships 1,557 2,037
Other 1,096 1,016
Total deferred tax liabilities 5,633 6,245
Net deferred tax asset $ 13,176 $ 12,599
v3.25.4
Income Taxes - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating Loss Carryforwards [Line Items]    
Deferred tax assets, valuation allowance $ 1,460 $ 1,568
Unrecognized tax benefits 0 0
State and Local Jurisdiction    
Operating Loss Carryforwards [Line Items]    
Deferred tax assets, partial release of valuation allowance   1,700
State net operating loss carryforwards $ 4,200 5,700
Operating loss carryforwards, expiration year 2032  
Wisconsin    
Operating Loss Carryforwards [Line Items]    
Deferred tax assets, valuation allowance $ 1,500 1,600
Deferred tax assets, State taxes $ 2,100 $ 2,100
v3.25.4
Income Taxes - Schedule of income Taxes (Net of Refunds) by Jurisdiction (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US federal $ 2,295 $ 1,491 $ 5,335
US state and local 1,012 (1,333) 2,121
Total net income taxes paid 3,307 158 7,456
Wisconsin      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   (1,677) 1,537
Minnesota      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   96  
Missouri      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   50  
Florida      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   50  
Kansas      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   50  
California      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   (45)  
Illinois      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local 190 (32)  
New Jersey      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   30  
Maryland      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   20  
Oregon      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   20  
Tennessee      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   20  
Ohio      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   19  
Iowa      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   (15)  
Michigan      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   15  
Pennsylvania      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   15  
Texas      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   13  
Kentucky      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   12  
North Carolina      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   10  
Utah      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local   10  
Other      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
US state and local $ 822 $ 6 $ 584
v3.25.4
Derivative Financial Instruments - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivatives      
Accumulated derivative credit valuation adjustment $ 116,000 $ 149,000  
Interest Rate Swap Agreements on Loans with Third-party Counter Parties      
Derivatives      
Interest rate swaps - assets, fair value 34,600,000    
Interest rate swaps - liabilities, fair value 9,700,000    
Interest Rate Swap Related to AFS Securities | Designated as Hedging Instrument      
Derivatives      
Unrealized gains on interest rate swaps   390,000 $ 22,000
Unrealized loss on interest rate swaps 175,000    
Interest Rate Swap Related to FHLB Borrowings | Designated as Hedging Instrument      
Derivatives      
Unrealized gains on interest rate swaps   4,700,000  
Unrealized loss on interest rate swaps 8,900,000   3,500,000
Gain (loss) recognized in income on ineffective portion of hedges $ 0 $ 0 $ 0
v3.25.4
Derivative Financial Instruments - Summary of Location and Fair Value of Derivative Instruments (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Instrument
Dec. 31, 2024
USD ($)
Instrument
Derivatives not designated as hedging instruments, fair value    
Derivative Asset, Fair Value $ 36,515 $ 65,762
Derivative Liability, Fair Value $ 36,926 $ 57,068
Interest Rate Swap Agreements on Loans with Commercial Loan Customers | Not Designated as Hedging Instrument    
Derivatives not designated as hedging instruments, fair value    
Derivative Asset, Number of Instruments | Instrument 62 20
Derivative Asset, Notional Amount $ 662,325 $ 232,488
Derivative Asset, Weighted Average Maturity 3 years 7 months 20 days 4 years 6 months 18 days
Derivative Asset, Fair Value $ 9,704 $ 2,015
Derivative Liability, Number of Instruments Held | Instrument 62 86
Derivative Liability, Notional Amount $ 504,535 $ 789,877
Derivative Liability, Weighted Average Maturity 5 years 3 months 21 days 5 years 5 months 8 days
Derivative Liability, Fair Value $ 34,558 $ 56,559
Interest Rate Swap Agreements on Loans with Third-party Counter Parties | Not Designated as Hedging Instrument    
Derivatives not designated as hedging instruments, fair value    
Derivative Asset, Number of Instruments | Instrument 124 106
Derivative Asset, Notional Amount $ 1,166,859 $ 1,022,365
Derivative Asset, Weighted Average Maturity 4 years 4 months 9 days 5 years 2 months 26 days
Derivative Asset, Fair Value $ 24,854 $ 54,544
Interest Rate Swap Related to AFS Securities | Designated as Hedging Instrument    
Derivatives not designated as hedging instruments, fair value    
Derivative Asset, Number of Instruments | Instrument 11 11
Derivative Asset, Notional Amount $ 12,500 $ 12,500
Derivative Asset, Weighted Average Maturity 6 years 3 months 10 days 7 years 3 months 10 days
Derivative Asset, Fair Value $ 839 $ 1,014
Interest Rate Swap Related to Wholesale Funding | Designated as Hedging Instrument    
Derivatives not designated as hedging instruments, fair value    
Derivative Asset, Number of Instruments | Instrument 4 36
Derivative Asset, Notional Amount $ 449,089 $ 384,655
Derivative Asset, Weighted Average Maturity 3 years 3 months 14 days 3 years 11 months 12 days
Derivative Asset, Fair Value $ 2,368 $ 8,189
Derivative Liability, Number of Instruments Held | Instrument 45 10
Derivative Liability, Notional Amount $ 48,400 $ 100,000
Derivative Liability, Weighted Average Maturity 2 years 1 month 13 days 1 year 6 months 18 days
Derivative Liability, Fair Value $ 1,118 $ 509
v3.25.4
Commitments and Contingencies - Lending Related And Other Commitments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Commitments to extend credit, primarily commercial loans    
Lending Related Commitments By Type [LineItems]    
Lending related commitments $ 1,083,828 $ 1,046,598
Standby letters of credit    
Lending Related Commitments By Type [LineItems]    
Lending related commitments $ 15,802 $ 17,276
v3.25.4
Commitments and Contingencies - Additional Information (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Accrued credit losses for financial instruments with off-balance sheet risk $ 0 $ 0
SBA loans, probability of future losses $ 502,000,000 $ 645,000,000
v3.25.4
Commitments and Contingencies - SBA Recourse Reserve (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Beginning balance $ 645 $ 955
SBA (benefit) recourse (64) (104)
Charge-offs, net (79) (206)
Ending balance $ 502 $ 645
v3.25.4
Fair Value Disclosures - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net [Abstract]    
Fair value, assets, level 1 to level 2 transfers $ 0 $ 0
Fair value, assets, level 2 to Level 1 transfers 0 0
Fair value, assets, transfers into level 3 0 0
Fair value, assets, transfers out of level 3 0 0
Fair value, liabilities, level 1 to level 2 transfers 0 0
Fair value, liabilities, level 2 to level 1 transfers 0 0
Fair value, liabilities, transfers into level 3 0 0
Fair value, liabilities, transfers out of level 3 $ 0 0
Minimum    
Fair Value Measurement Inputs and Valuation Techniques    
Quantification of unobservable inputs for level 3 values for impaired loans 13.00%  
Maximum    
Fair Value Measurement Inputs and Valuation Techniques    
Quantification of unobservable inputs for level 3 values for impaired loans 100.00%  
Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques    
Quantification of unobservable inputs for level 3 values for impaired loans 40.00%  
Fair Value on Non-recurring Basis | Collateral-dependent Loans    
Fair Value Measurement Inputs and Valuation Techniques    
Assets, Fair Value $ 8,800,000 $ 7,500,000
v3.25.4
Fair Value Disclosures - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value Recurring Basis - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
US Treasuries    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value $ 4,901 $ 4,718
US Treasuries | Fair Value Measurements - Level 1 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
US Treasuries | Fair Value Measurements - Level 2 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 4,901 4,718
US Treasuries | Fair Value Measurements - Level 3 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
U.S. Government Agency Securities - Government-Sponsored Enterprises    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 2,314 3,153
U.S. Government Agency Securities - Government-Sponsored Enterprises | Fair Value Measurements - Level 1 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
U.S. Government Agency Securities - Government-Sponsored Enterprises | Fair Value Measurements - Level 2 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 2,314 3,153
U.S. Government Agency Securities - Government-Sponsored Enterprises | Fair Value Measurements - Level 3 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
Municipal Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 43,892 34,861
Municipal Securities | Fair Value Measurements - Level 1 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
Municipal Securities | Fair Value Measurements - Level 2 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 43,892 34,861
Municipal Securities | Fair Value Measurements - Level 3 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
Interest Rate Swaps    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 36,515 65,762
Liabilities, Fair Value 36,926 57,068
Interest Rate Swaps | Fair Value Measurements - Level 1 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
Liabilities, Fair Value 0 0
Interest Rate Swaps | Fair Value Measurements - Level 2 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 36,515 65,762
Liabilities, Fair Value 36,926 57,068
Interest Rate Swaps | Fair Value Measurements - Level 3 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
Liabilities, Fair Value 0 0
GNMA | Residential Mortgage-backed Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 166,635 123,223
GNMA | Residential Mortgage-backed Securities | Fair Value Measurements - Level 1 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
GNMA | Residential Mortgage-backed Securities | Fair Value Measurements - Level 2 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 166,635 123,223
GNMA | Residential Mortgage-backed Securities | Fair Value Measurements - Level 3 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
GNMA | Commercial Mortgage-backed Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 2,114 2,224
GNMA | Commercial Mortgage-backed Securities | Fair Value Measurements - Level 1 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
GNMA | Commercial Mortgage-backed Securities | Fair Value Measurements - Level 2 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 2,114 2,224
GNMA | Commercial Mortgage-backed Securities | Fair Value Measurements - Level 3 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
Government Sponsored Enterprises | Residential Mortgage-backed Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 162,543 134,765
Government Sponsored Enterprises | Residential Mortgage-backed Securities | Fair Value Measurements - Level 1 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
Government Sponsored Enterprises | Residential Mortgage-backed Securities | Fair Value Measurements - Level 2 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 162,543 134,765
Government Sponsored Enterprises | Residential Mortgage-backed Securities | Fair Value Measurements - Level 3 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
Government Sponsored Enterprises | Commercial Mortgage-backed Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 39,688 38,448
Government Sponsored Enterprises | Commercial Mortgage-backed Securities | Fair Value Measurements - Level 1 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 0 0
Government Sponsored Enterprises | Commercial Mortgage-backed Securities | Fair Value Measurements - Level 2 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value 39,688 38,448
Government Sponsored Enterprises | Commercial Mortgage-backed Securities | Fair Value Measurements - Level 3 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets, Fair Value $ 0 $ 0
v3.25.4
Fair Value Disclosures - Assets and Liabilities Measured at Fair Value on a Non-recurring Basis (Details) - Fair Value on Non-recurring Basis - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Collateral-dependent Loans    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets and liabilities measured at fair value $ 8,796 $ 7,506
Collateral-dependent Loans | Fair Value Measurements - Level 1 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets and liabilities measured at fair value 0 0
Collateral-dependent Loans | Fair Value Measurements - Level 2 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets and liabilities measured at fair value 0 0
Collateral-dependent Loans | Fair Value Measurements - Level 3 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets and liabilities measured at fair value 8,796 7,506
Repossessed Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets and liabilities measured at fair value 0 51
Repossessed Assets | Fair Value Measurements - Level 1 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets and liabilities measured at fair value 0 0
Repossessed Assets | Fair Value Measurements - Level 2 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets and liabilities measured at fair value 0 0
Repossessed Assets | Fair Value Measurements - Level 3 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets and liabilities measured at fair value 0 51
Loan Servicing Rights    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets and liabilities measured at fair value 1,317 1,245
Loan Servicing Rights | Fair Value Measurements - Level 1 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets and liabilities measured at fair value 0 0
Loan Servicing Rights | Fair Value Measurements - Level 2 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets and liabilities measured at fair value 0 0
Loan Servicing Rights | Fair Value Measurements - Level 3 Inputs    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Assets and liabilities measured at fair value $ 1,317 $ 1,245
v3.25.4
Fair Value Disclosures - Estimated Fair Values For Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financial assets:    
Cash and cash equivalents, carrying amount $ 39,485 $ 157,702
Cash and cash equivalents, fair value 39,485 157,702
Securities available-for-sale, at fair value 422,087 341,392
Securities held-to-maturity, carrying amount 5,210 6,741
Securities held-to-maturity, fair value 5,141 6,535
Loans held for sale, carrying amount 18,849 13,498
Loans Held-for-sale, fair value 20,357 14,577
Loans and leases receivable, net 3,337,364 3,077,343
Loans and lease receivables, net, fair value 3,330,756 3,049,890
Federal Home Loan Bank stock, carrying amount 8,940 11,616
Federal Home Loan Bank stock, fair value   0
Accrued interest receivable, carrying amount 13,100 12,879
Accrued interest receivable, fair value 13,100 12,879
Derivative Asset 36,515 65,762
Financial liabilities:    
Deposits, carrying amount 3,380,415 3,107,140
Deposits, fair value 3,382,348 3,107,068
Federal Home Loan Bank and other borrowings, carrying amount 252,051 320,049
Federal Home Loan Bank and other borrowings fair value 251,312 314,175
Accrued interest payable, carrying amount 9,417 10,175
Accrued interest payable, fair value 9,417 10,175
Derivatives 36,926 57,068
Standby letters of credit, carrying amount 197 209
Standby letters of credit, fair value 197 209
Interest Rate Swaps    
Financial assets:    
Derivative Asset 36,515 65,762
Interest rate swaps - assets, fair value 36,515 65,762
Financial liabilities:    
Derivatives 36,926 57,068
Interest rate swaps - liabilities, fair value 36,926 57,068
Fair Value Measurements - Level 1 Inputs    
Financial assets:    
Cash and cash equivalents, fair value 39,485 157,702
Securities available-for-sale, at fair value 0 0
Securities held-to-maturity, fair value 0 0
Loans Held-for-sale, fair value 0 0
Loans and lease receivables, net, fair value 0 0
Accrued interest receivable, fair value 13,100 12,879
Financial liabilities:    
Deposits, fair value 2,575,431 2,406,532
Federal Home Loan Bank and other borrowings fair value 0 0
Accrued interest payable, fair value 9,417 10,175
Standby letters of credit, fair value 0 0
Fair Value Measurements - Level 1 Inputs | Interest Rate Swaps    
Financial assets:    
Interest rate swaps - assets, fair value 0 0
Financial liabilities:    
Interest rate swaps - liabilities, fair value 0 0
Fair Value Measurements - Level 2 Inputs    
Financial assets:    
Cash and cash equivalents, fair value 0 0
Securities available-for-sale, at fair value 422,087 341,392
Securities held-to-maturity, fair value 5,141 6,535
Loans Held-for-sale, fair value 20,357 14,577
Loans and lease receivables, net, fair value 0 0
Accrued interest receivable, fair value 0 0
Financial liabilities:    
Deposits, fair value 806,917 700,536
Federal Home Loan Bank and other borrowings fair value 251,312 314,175
Accrued interest payable, fair value 0 0
Standby letters of credit, fair value 0 0
Fair Value Measurements - Level 2 Inputs | Interest Rate Swaps    
Financial assets:    
Interest rate swaps - assets, fair value 36,515 65,762
Financial liabilities:    
Interest rate swaps - liabilities, fair value 36,926 57,068
Fair Value Measurements - Level 3 Inputs    
Financial assets:    
Cash and cash equivalents, fair value 0 0
Securities available-for-sale, at fair value 0 0
Securities held-to-maturity, fair value 0 0
Loans Held-for-sale, fair value 0 0
Loans and lease receivables, net, fair value 3,330,756 3,049,890
Accrued interest receivable, fair value 0 0
Financial liabilities:    
Deposits, fair value 0 0
Federal Home Loan Bank and other borrowings fair value 0 0
Accrued interest payable, fair value 0 0
Standby letters of credit, fair value 197 209
Fair Value Measurements - Level 3 Inputs | Interest Rate Swaps    
Financial assets:    
Interest rate swaps - assets, fair value 0 0
Financial liabilities:    
Interest rate swaps - liabilities, fair value $ 0 $ 0
v3.25.4
Condensed Parent Only Financial Information - Schedule of Condensed Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Assets        
Cash and cash equivalents $ 39,485 $ 157,702    
Premises and equipment, net 4,669 5,227    
Other assets 0 0 $ 0  
Total assets 4,081,887 3,853,215 3,507,846  
Liabilities and Stockholders’ Equity        
Subordinated notes and other borrowings 252,051 320,049    
Accrued interest payable and other liabilities 33,549 32,443    
Total liabilities 3,710,302 3,524,626    
Stockholders' equity 371,585 328,589 289,588 $ 260,640
Total liabilities and stockholders’ equity 4,081,887 3,853,215    
Parent company        
Assets        
Cash and cash equivalents 517 5,384 $ 2,027 $ 3,129
Investments in subsidiaries, at equity 423,364 379,604    
Premises and equipment, net 56 67    
Other assets 6,194 2,908    
Total assets 430,131 387,963    
Liabilities and Stockholders’ Equity        
Subordinated notes and other borrowings 54,805 54,689    
Accrued interest payable and other liabilities 3,741 4,685    
Total liabilities 58,546 59,374    
Stockholders' equity 371,585 328,589    
Total liabilities and stockholders’ equity $ 430,131 $ 387,963    
v3.25.4
Condensed Parent Only Financial Information - Schedule of Condensed Statements of Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Condensed Income Statements, Captions [Line Items]                      
Net interest expense $ 34,762 $ 34,886 $ 33,784 $ 33,258 $ 33,148 $ 31,007 $ 30,540 $ 29,511 $ 136,690 $ 124,206 $ 112,588
Non-interest income                      
Other non-interest income                 4,374 3,833 6,921
Total non-interest income 7,461 9,640 7,255 7,579 8,005 7,064 7,425 6,757 31,937 29,251 31,308
Non-interest expense 24,130 25,700 24,968 24,719 23,152 23,107 23,879 23,342 99,519 93,480 88,575
Income tax benefit (2,905) (2,993) (1,948) (2,288) (885) (2,351) (1,917) (1,752) (10,134) (6,905) (10,112)
Net income $ 13,333 $ 14,393 $ 11,422 $ 11,171 $ 14,415 $ 10,526 $ 10,456 $ 8,848 50,319 44,245 37,027
Parent company                      
Condensed Income Statements, Captions [Line Items]                      
Net interest expense                 3,532 3,283 1,989
Non-interest income                      
Dividends from subsidiaries                 13,500 11,500 12,100
Consulting and rental income from consolidated subsidiaries                 6,587 5,812 5,644
Other non-interest income                 37 10 43
Total non-interest income                 20,124 17,322 17,787
Non-interest expense                 8,531 8,375 8,234
Gain before income tax benefit and equity in undistributed net income of consolidated subsidiaries                 8,061 5,664 7,564
Income tax benefit                 1,698 1,940 337
Gain before equity in undistributed net income of consolidated subsidiaries                 9,759 7,604 7,901
Equity in undistributed net income of consolidated subsidiaries                 40,560 36,641 29,126
Net income                 $ 50,319 $ 44,245 $ 37,027
v3.25.4
Condensed Parent Only Financial Information - Schedule of Condensed Statements of Cash Flows (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities                      
Net income $ 13,333 $ 14,393 $ 11,422 $ 11,171 $ 14,415 $ 10,526 $ 10,456 $ 8,848 $ 50,319 $ 44,245 $ 37,027
Adjustments to reconcile net income to net cash provided by operating activities:                      
Share-based compensation                 2,800 2,785 2,977
Excess tax benefit from share-based compensation                 237 186 194
Net cash provided by operating activities                 61,696 57,491 52,292
Investing activities                      
Net cash used in investing activities                 (373,382) (328,472) (506,849)
Financing activities                      
Net increase in long-term borrowed funds                 106 283 (6,013)
Proceeds from issuance of subordinated notes payable                 0 20,000 15,000
Repayment of subordinated notes payable                 0 (15,000) 0
Purchase of treasury stock                 (1,390) (1,270) (2,971)
Preferred stock dividends paid                 (875) (875) (875)
Cash dividends paid                 (9,686) (8,320) (7,578)
Net proceeds from purchases of ESPP shares                 143 144 128
Net cash provided by financing activities                 193,469 289,173 491,385
Net (decrease) increase in cash and cash equivalents                 (118,217) 18,192 36,828
Cash and cash equivalents at the beginning of the period       157,702         157,702    
Cash and cash equivalents at the end of the period 39,485       157,702       39,485 157,702  
Parent company                      
Operating activities                      
Net income                 50,319 44,245 37,027
Adjustments to reconcile net income to net cash provided by operating activities:                      
Equity in undistributed earnings of consolidated subsidiaries                 (40,560) (36,641) (29,126)
Share-based compensation                 2,800 2,785 2,977
Excess tax benefit from share-based compensation                 (62) (219) (91)
Net (decrease) increase in other liabilities                 (4,224) (146) (1,854)
Other, net                 (1,448) (1,639) 1,207
Net cash provided by operating activities                 6,825 8,385 10,140
Investing activities                      
Capital contributions to subsidiaries                 0 0 (15,000)
Net cash used in investing activities                 0 0 (15,000)
Financing activities                      
Net increase in long-term borrowed funds                 116 293 54
Proceeds from issuance of subordinated notes payable                 0 20,000 15,000
Repayment of subordinated notes payable                 0 (15,000) 0
Proceeds from purchased funds and other short-term debt                 0 0 0
Purchase of treasury stock                 (1,390) (1,270) (2,971)
Preferred stock dividends paid                 (875) (875) (875)
Cash dividends paid                 (9,686) (8,320) (7,578)
Net proceeds from purchases of ESPP shares                 143 144 128
Net cash provided by financing activities                 (11,692) (5,028) 3,758
Net (decrease) increase in cash and cash equivalents                 (4,867) 3,357 (1,102)
Cash and cash equivalents at the beginning of the period       $ 5,384       $ 2,027 5,384 2,027 3,129
Cash and cash equivalents at the end of the period $ 517       $ 5,384       $ 517 $ 5,384 $ 2,027
v3.25.4
Segment Information - Schedule of Segment Reporting Information, by Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]                      
Interest income $ 62,752 $ 63,746 $ 61,282 $ 59,530 $ 60,110 $ 59,327 $ 57,910 $ 55,783 $ 247,310 $ 233,130 $ 194,928
Other revenues 7,461 9,640 7,255 7,579 8,005 7,064 7,425 6,757 31,937 29,251 31,308
Less: interest expense 27,990 28,860 27,498 26,272 26,962 28,320 27,370 26,272 110,620 108,924 82,340
Provision for credit losses 1,855 1,440 2,701 2,659 2,701 2,087 1,713 2,326 8,655 8,827 8,182
Compensation expense                 67,874 63,105 61,059
Income tax expense 2,905 2,993 1,948 2,288 885 2,351 1,917 1,752 10,134 6,905 10,112
Net income 13,333 14,393 11,422 11,171 14,415 10,526 10,456 8,848 50,319 44,245 37,027
Other segment disclosures:                      
Interest income 62,752 63,746 61,282 59,530 60,110 59,327 57,910 55,783 247,310 233,130 194,928
Interest expense 27,990 28,860 27,498 26,272 26,962 28,320 27,370 26,272 110,620 108,924 82,340
Depreciation, amortization, and accretion                 3,774 3,738 3,636
Provision for credit losses 1,855 $ 1,440 $ 2,701 $ 2,659 2,701 $ 2,087 $ 1,713 $ 2,326 8,655 8,827 8,182
Assets 4,081,887       3,853,215       4,081,887 3,853,215 3,507,846
Other assets 0       0       0 0 0
Operating Segment                      
Segment Reporting Information [Line Items]                      
Interest income                 247,310 233,130 194,928
Other revenues                 31,937 29,251 31,308
Total consolidated revenues                 279,247 262,381 226,236
Less: interest expense                 110,620 108,924 82,340
Segment net interest and non-interest income                 168,627 153,457 143,896
Provision for credit losses                 8,655 8,827 8,182
Compensation expense                 67,874 63,105 61,059
Other segment items                 31,645 30,375 27,516
Income tax expense                 10,134 6,905 10,112
Net income                 50,319 44,245 37,027
Other segment disclosures:                      
Interest income                 247,310 233,130 194,928
Interest expense                 110,620 108,924 82,340
Depreciation, amortization, and accretion                 3,774 3,738 3,636
Provision for credit losses                 8,655 8,827 8,182
Assets $ 4,081,887       $ 3,853,215       4,081,887 3,853,215 3,507,846
Expenses for segment assets                 $ 99,519 $ 93,480 $ 88,575
v3.25.4
Condensed Quarterly Earnings (unaudited) - Schedule of Quarterly Financial Information (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]                      
Interest income $ 62,752 $ 63,746 $ 61,282 $ 59,530 $ 60,110 $ 59,327 $ 57,910 $ 55,783 $ 247,310 $ 233,130 $ 194,928
Interest expense 27,990 28,860 27,498 26,272 26,962 28,320 27,370 26,272 110,620 108,924 82,340
Net interest expense 34,762 34,886 33,784 33,258 33,148 31,007 30,540 29,511 136,690 124,206 112,588
Provision for credit losses 1,855 1,440 2,701 2,659 2,701 2,087 1,713 2,326 8,655 8,827 8,182
Non-interest income 7,461 9,640 7,255 7,579 8,005 7,064 7,425 6,757 31,937 29,251 31,308
Non-interest expense 24,130 25,700 24,968 24,719 23,152 23,107 23,879 23,342 99,519 93,480 88,575
Income before income tax expense 16,238 17,386 13,370 13,459 15,300 12,877 12,373 10,600 60,453 51,150 47,139
Income tax expense 2,905 2,993 1,948 2,288 885 2,351 1,917 1,752 10,134 6,905 10,112
Net income 13,333 14,393 11,422 11,171 14,415 10,526 10,456 8,848 50,319 44,245 37,027
Preferred stock dividend 219 218 219 219 219 218 219 219 875 875 875
Net income available to common shareholders $ 13,114 $ 14,175 $ 11,203 $ 10,952 $ 14,196 $ 10,308 $ 10,237 $ 8,629 $ 49,444 $ 43,370 $ 36,152
Basic earnings per common share $ 1.58 $ 1.7 $ 1.35 $ 1.32 $ 1.71 $ 1.24 $ 1.23 $ 1.04 $ 5.94 $ 5.2 $ 4.33
Diluted earnings per common share 1.58 1.7 1.35 1.32 1.71 1.24 1.23 1.04 5.94 5.2 4.33
Dividends declared $ 0.29 $ 0.29 $ 0.29 $ 0.29 $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 1.16 $ 1 $ 0.91