Alerus Financial (ALRS) 10-K 8 Mar 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Feb. 29, 2024	Jun. 30, 2023
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-39036
Entity Registrant Name	ALERUS FINANCIAL CORPORATION
Entity Incorporation, State	DE
Entity Tax Identification Number	45-0375407
Entity Address, Address Line One	401 Demers Avenue
Entity Address, City or Town	Grand Forks
Entity Address, State or Province	ND
Entity Address, Postal Zip Code	58201
City Area Code	701
Local Phone Number	795-3200
Title of 12(b) Security	Common Stock, par value $1.00 per share
Trading Symbol	ALRS
Security Exchange Name	NASDAQ
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding			19,737,829
Entity Public Float				$ 341,868,115
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0000903419
Amendment Flag	false
Auditor Name	RSM US LLP	CliftonLarsonAllen LLP
Auditor Firm ID	49	655
Auditor Location	Des Moines, Iowa	Minneapolis, Minnesota

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 129,893	$ 58,242
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	486,736	717,324
Held-to-maturity, at amortized cost (fair value of $258,617 and $270,912, respectively, with an allowance for credit losses on investments of $213 and $0, respectively)	299,515	321,902
Loans held for sale	11,497	9,488
Loans	2,759,583	2,443,994
Allowance for credit losses on loans	(35,843)	(31,146)
Net loans	2,723,740	2,412,848
Land, premises and equipment, net	17,940	17,288
Operating lease right-of-use assets	5,436	5,419
Accrued interest receivable	15,700	12,869
Bank-owned life insurance	33,236	33,991
Goodwill	46,783	47,087
Other intangible assets, net	17,158	22,455
Servicing rights	2,052	2,643
Deferred income taxes, net	34,595	42,369
Other assets	83,432	75,712
Total assets	3,907,713	3,779,637
Deposits
Noninterest-bearing	728,082	860,987
Interest-bearing	2,367,529	2,054,497
Total deposits	3,095,611	2,915,484
Short-term borrowings	314,170	378,080
Long-term debt	58,956	58,843
Operating lease liabilities	5,751	5,902
Accrued expenses and other liabilities	64,098	64,456
Total liabilities	3,538,586	3,422,765
Commitments and contingencies (Note 15)
Stockholders' equity
Preferred stock, $1 par value, 2,000,000 shares authorized: 0 issued and outstanding
Common stock, $1 par value, 30,000,000 shares authorized: 19,734,077 and 19,991,681 issued and outstanding	19,734	19,992
Additional paid-in capital	150,343	155,095
Retained earnings	272,705	280,426
Accumulated other comprehensive income (loss)	(73,655)	(98,641)
Total stockholders' equity	369,127	356,872
Total liabilities and stockholders' equity	$ 3,907,713	$ 3,779,637

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Consolidated Balance Sheets
Amortized cost	$ 584,754,000	$ 849,567,000
Fair Value	258,617,000	270,912,000
Allowance for credit losses on investments	$ 213,000	$ 0
Preferred stock, par value	$ 1	$ 1
Preferred Stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	19,734,077	19,991,681
Common stock, shares outstanding	19,734,077	19,991,681

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest Income
Loans, including fees	$ 136,918	$ 89,907	$ 78,133
Taxable	24,262	23,260	13,001
Exempt from federal income taxes	740	848	925
Other	2,963	1,562	598
Total interest income	164,883	115,577	92,657
Interest Expense
Deposits	53,387	9,169	3,661
Short-term borrowings	20,976	4,339
Long-term debt	2,681	2,340	1,897
Total interest expense	77,044	15,848	5,558
Net interest income	87,839	99,729	87,099
Provision for credit losses	2,057		(3,500)
Net interest income after provision for credit losses	85,782	99,729	90,599
Noninterest Income
Mortgage banking	8,411	16,921	48,502
Net gains (losses) on investment securities	(24,643)		125
Other	8,032	4,863	4,604
Total noninterest income	80,229	111,223	147,387
Noninterest Expense
Compensation	76,290	80,656	93,386
Employee taxes and benefits	20,051	21,915	22,033
Occupancy and equipment expense	7,477	7,605	8,148
Business services, software and technology expense	21,053	19,487	20,486
Intangible amortization expense	5,296	4,754	4,380
Professional fees and assessments	6,743	8,367	6,292
Marketing and business development	3,027	3,254	3,182
Supplies and postage	1,796	2,440	2,361
Travel	1,189	1,182	442
Mortgage and lending expenses	1,902	2,183	4,250
Other	5,333	6,927	3,949
Total noninterest expense	150,157	158,770	168,909
Income before income taxes	15,854	52,182	69,077
Income tax expense	4,158	12,177	16,396
Net income	$ 11,696	$ 40,005	$ 52,681
Per Common Share Data
Basic earnings per common share	$ 0.59	$ 2.12	$ 3.02
Diluted earnings per common share	0.58	2.10	2.97
Dividends declared per common share	$ 0.75	$ 0.70	$ 0.63
Average common shares outstanding	19,922	18,640	17,189
Diluted average common shares outstanding	20,143	18,884	17,486
Retirement and Benefit Services
Noninterest Income
Revenue	$ 65,294	$ 67,135	$ 71,709
Wealth Management
Noninterest Income
Revenue	21,855	20,870	21,052
Deposit Account
Noninterest Income
Revenue	$ 1,280	$ 1,434	$ 1,395

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Consolidated Statements of Comprehensive Income
Net income	$ 11,696	$ 40,005	$ 52,681
Other Comprehensive Income (Loss), Net of Tax
Net change in unrealized gains (losses) on debt securities	33,897	(126,016)	(19,759)
Net change in unrealized gain (losses) on cash flow hedging derivatives	(297)
Net change in unrealized gain (losses) on other derivatives	(241)		(125)
Total other comprehensive income (loss), before tax	33,359	(126,016)	(19,884)
Income tax expense (benefit) related to items of other comprehensive income (loss)	8,373	(31,630)	(4,991)
Other comprehensive income (loss), net of tax	24,986	(94,386)	(14,893)
Total comprehensive income (loss)	$ 36,682	$ (54,381)	$ 37,788

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock Cumulative Effect, Period of Adoption, Adjusted Balance	Common Stock	Additional Paid in Capital. Cumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid in Capital.	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings Cumulative Effect, Period of Adoption, Adjusted Balance	Retained Earnings	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjusted Balance	Total
Beginning balance at Dec. 31, 2020		$ 17,125		$ 90,237			$ 212,163		$ 10,638			$ 330,163
Net income							52,681					52,681
Other comprehensive income (loss)									(14,893)			(14,893)
Common stock repurchased		(18)		(348)			(346)					(712)
Common stock dividends							(10,931)					(10,931)
Share-based compensation expense		9		3,086								3,095
Vesting of restricted stock		97		(97)
Ending balance at Dec. 31, 2021		17,213		92,878			253,567		(4,255)			359,403
Net income							40,005					40,005
Other comprehensive income (loss)									(94,386)			(94,386)
Common stock repurchased		(26)		(712)								(738)
Common stock dividends							(13,146)					(13,146)
Stock issuance from the acquisition of Metro Phoenix Bank		2,681		61,149								63,830
Share-based compensation expense		10		1,894								1,904
Vesting of restricted stock		114		(114)
Ending balance at Dec. 31, 2022	$ 19,992	19,992	$ 155,095	155,095	$ (4,452)	$ 275,974	280,426	$ (98,641)	(98,641)	$ (4,452)	$ 352,420	356,872
Net income							11,696					11,696
Other comprehensive income (loss)									24,986			24,986
Common stock repurchased		(375)		(6,263)								(6,638)
Common stock dividends							(14,965)					(14,965)
Share-based compensation expense		18		1,610								1,628
Vesting of restricted stock		99		(99)
Ending balance at Dec. 31, 2023		$ 19,734		$ 150,343			$ 272,705		$ (73,655)			$ 369,127

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Activities
Net income	$ 11,696	$ 40,005	$ 52,681
Adjustments to reconcile net income to net cash provided (used) by operating activities
Deferred income taxes	893	913	2,786
Provision for credit losses	2,057		(3,500)
Depreciation and amortization	8,525	8,467	8,868
Amortization and accretion of premiums/discounts on investment securities	2,047	3,387	3,744
Amortization of operating lease right-of-use assets	(15)	(229)	(58)
Share-based compensation expense	1,628	1,904	3,095
Originations on loans held for sale	(296,831)	(604,763)	(1,592,108)
Proceeds on loans held for sale	302,252	653,302	1,716,053
(Increase) in value of bank-owned life insurance	(877)	(835)	(793)
Realized loss (gain) on derivative instruments	365	2,006	8,459
Realized loss (gain) on loans sold	(7,323)	(11,616)	(48,038)
Realized loss (gain) on sale of foreclosed assets	(17)	71	(275)
Realized loss (gain) on sale of investment securities	24,643		(125)
Realized loss (gain) on BOLI mortality	(1,196)
Realized loss (gain) on servicing rights	(3)	(702)	(638)
Realized loss (gain) on sale of ESOP trustee line of business	(2,775)
Net change in:
Accrued interest receivable	(2,831)	(3,241)	1,125
Other assets	(5,528)	5,324	(7,309)
Accrued expenses and other liabilities	(7,728)	8,973	5,865
Net cash provided (used) by operating activities	28,982	102,966	149,832
Investing Activities
Proceeds from sales or calls of investment securities available-for-sale	171,758		13,189
Proceeds from maturities of investment securities available-for-sale	67,346	105,633	125,581
Purchases of investment securities available-for-sale		(95,600)	(571,595)
Proceeds from calls of investment securities held-to-maturity	242	963	1,772
Proceeds from maturities and paydowns of investment securities held-to-maturity	20,623	27,429	12,545
Purchases of investment securities held-to-maturity			(218,363)
Net (increase) decrease in loans	(314,718)	(416,150)	221,006
Net (increase) decrease in FHLB stock	2,796	(15,556)	(716)
Net cash received (paid) for business combinations		101,511
Proceeds from BOLI mortality claim	2,828
Purchases of premises and equipment	(3,173)	(1,789)	(1,706)
Proceeds from sales of foreclosed assets	210	937	629
Net cash provided (used) by investing activities	(52,088)	(292,622)	(417,658)
Financing Activities
Net increase (decrease) in deposits	180,127	(358,752)	348,558
Net increase (decrease) in short-term borrowings	(63,910)	378,080
Repayments of long-term debt		(203)	(49,920)
Proceeds from the issuance of subordinated debt			50,000
Cash dividends paid on common stock	(14,822)	(12,800)	(10,751)
Repurchase of common stock	(6,638)	(738)	(712)
Net cash provided (used) by financing activities	94,757	5,587	337,175
Net change in cash and cash equivalents	71,651	(184,069)	69,349
Cash and cash equivalents at beginning of period	58,242	242,311	172,962
Cash and cash equivalents at end of period	129,893	58,242	242,311
Supplemental Cash Flow Disclosures
Interest paid	72,644	15,095	4,538
Income taxes paid	10,840	12,531	13,124
Cash dividends declared, not paid	3,757	3,615	2,776
Cash and cash equivalents acquired		101,696
Supplemental Disclosures of Noncash Investing and Financing Activities
Loan collateral transferred to foreclosed assets	(195)	153	1,176
Investment securities transferred to held-to-maturity			149,191
Right-of-use assets obtained in exchange for new operating lease liabilities, net	1,868	4,266	$ 267
Change in fair value hedges presented within residential real estate loans and other liabilities	$ (166)
Noncash assets acquired		297,745
Liabilities assumed		(354,358)
Issuance of common stock for the acquisition of Metro Phoenix Bank		(64,019)
Net noncash acquired		$ (120,632)

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Significant Accounting Policies
Significant Accounting Policies	NOTE 1 Significant Accounting Policies Alerus Financial Corporation is a financial holding company organized under the laws of Delaware. Alerus Financial Corporation and its subsidiaries, or the Company, is a diversified financial services company headquartered in Grand Forks, North Dakota. Through its subsidiary, Alerus Financial, National Association, or the Bank, the Company provides innovative and comprehensive financial solutions to businesses and consumers through four distinct business lines – banking, retirement and benefit services, wealth management, and mortgage. The Bank operates under a national charter and provides full banking services. As a national bank, the Bank is subject to regulation by the Office of the Comptroller of Currency and the Federal Deposit Insurance Corporation. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries in which the Company has a controlling interest. Significant intercompany balances and transactions have been eliminated in consolidation. In the normal course of business, the Company may enter into a transaction with a variable interest entity, or VIE. VIEs are legal entities whose investors lack the ability to make decisions about the entity’s activities, or whose equity investors do not have the right to receive the residual returns of the entity. The applicable accounting guidance requires the Company to perform ongoing quantitative and qualitative analysis to determine whether it must consolidate any VIE. The Company does not have any ownership interest in or exert any control over any VIE, and thus no VIEs are included in the consolidated financial statements. Reclassifications Certain reclassifications have been made to prior year amounts, without impact to net income or total stockholders’ equity, to conform to the current year’s presentation. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, or GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the fair value of assets acquired and liabilities assumed from an acquisition and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include the valuation of investment securities, determination of the allowance for credit losses, valuation of reporting units for the purpose of testing goodwill and other intangible assets for impairment, valuation of deferred tax assets, and fair values of financial instruments. Emerging Growth Company The Company qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012, or the JOBS Act, and may take advantage of certain exemptions from various reporting requirements that are applicable to public companies that are not emerging growth companies, including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. In addition, even if the Company complies with the greater obligations of public companies that are not emerging growth companies, the Company may avail itself of the reduced requirements applicable to emerging growth companies from time to time in the future, so long as the Company is an emerging growth company. The Company will continue to be an emerging growth company until the earliest to occur of: (1) the end of the fiscal year following the fifth anniversary of the date of the first sale of common equity securities under the Company’s Registration Statement on Form S-1, which was declared effective by the U.S. Securities and Exchange Commission, or SEC, on September 12, 2019; (2) the last day of the fiscal year in which the Company has $1.235 billion or more in annual revenues; (3) the date on which the Company is deemed to be a “large accelerated filer” under the Securities Exchange Act of 1934, as amended, or the Exchange Act; or (4) the date on which the Company has, during the previous three-year period, issued publicly or privately, more than $1.0 billion in non-convertible debt securities. Management cannot predict if investors will find the Company’s common stock less attractive because it will rely on the exemptions available to emerging growth companies. If some investors find the Company’s common stock less attractive as a result, there may be a less active trading market for its common stock and the Company’s stock price may be more volatile. The last year the Company qualifies as an emerging growth company is 2024. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933 for complying with new or revised accounting standards. As an emerging growth company, the Company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company elected to take advantage of the benefits of this extended transition period. Concentrations of Credit Risk Substantially all of the Company’s lending activities are with clients located within North Dakota, Minnesota, and Arizona. At December 31, 2023 and 2022 respectively, 21.7% and 23.9% of the Company’s loan portfolio consisted of commercial and industrial loans that were not secured by real estate. The Company does not have any significant loan concentrations in any one industry or with any one client. Note 6 (Loans and Allowance for credit losses) discusses the Company’s loan portfolio. The Company invests in a variety of investment securities and does not have any significant concentrations in any one industry or to any one issuer. Note 5 (Investment Securities) discusses the Company’s investment securities portfolio. Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, cash and due from banks includes cash and cash equivalents, balances due from banks, and federal funds sold, all of which have an original maturity within 90 days. Cash flows from loans, FHLB stock, deposits, and short-term borrowings are reported net. Interest-bearing deposits in banks are carried at cost. Investment Securities Debt securities are classified as available for sale, or AFS, and are carried at estimated fair value with unrealized gains and losses reported in other comprehensive income (loss). Realized gains (losses) on AFS debt securities are included in net gains (losses) on investment securities in other comprehensive income. Gains (losses) on sales of investment securities are determined using the specific identification method on the trade date. The amortization of premiums and accretion of discounts are recognized in interest income using methods approximating the interest method over the period to maturity. For AFS debt securities in an unrealized loss position, the Company evaluates the securities to determine whether the decline in fair value below the amortized cost basis, or impairment, is due to credit-related factors or noncredit-related factors. Any impairment that is not credit related is recognized in other comprehensive income (loss), net of applicable taxes. Credit-related impairment is recognized as an allowance for credit losses, or ACL, related to AFS debt securities on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings as an expense (credit) within the provision for credit losses on the consolidated statements of income. Both the ACL and the adjustment to net income may be reversed if conditions change. However, if the Company intends to sell an impaired available-for-sale investment security or is required to sell such a security before recovering its amortized cost basis, the entire impairment amount must be recognized in earnings with a corresponding adjustment to the security’s amortized cost basis. Because the security’s amortized cost basis is adjusted to fair value, there is no ACL in this situation. Accrued interest receivable is excluded from the estimate of credit losses. In evaluating AFS debt securities in unrealized loss positions for impairment and the criteria regarding its intent or requirement to sell such securities, the Company considers the extent to which fair value is less than amortized cost, whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuers’ financial condition, macroeconomic trends of the industry specific to the security, and any other adverse conditions specifically related to the security, among other factors. ​ As of December 31, 2023 and 2022, there was no ACL carried on the Company’s AFS debt securities nor were there any permanent write-offs for the years ended December 31, 2023, 2022 and 2021. Refer to Note 5 (Investment Securities) for further discussion. ​ Certain debt securities that the Company has an intent to hold to maturity are classified as held-to-maturity, or HTM, and recorded at amortized cost. Interest earned on HTM debt securities is included in interest income. Amortization or accretion of premiums and discounts is also recognized in interest income using the effective interest method over the contractual life of the security and is adjusted to reflect actual prepayments. Transfers of debt securities from AFS to HTM are made at fair value at the date of transfer. Unrealized holding gains and losses at the date of transfer are included in other comprehensive income and in the carrying value of HTM security and are amortized over the remaining life of the security. Management measures expected credit losses on HTM debt securities on a collective basis by major security type. The Company evaluates HTM debt securities by credit rating and an external study, updated quarterly, that includes historical information such as probability of default and loss going back several years. Accrued interest receivable on HTM debt securities is excluded from the estimate of credit losses. A change in the ACL related to HTM debt securities is recorded as an expense (credit) within the provision for credit losses on the consolidated statements of income. As of December 31, 2023, there was $213 thousand of ACL carried on the Company’s HTM debt securities. As of December 31, 2022, there was no allowance carried on the Company’s HTM debt securities. For the years ended December 31, 2023, 2022 and 2021, there were no permanent write-offs. Refer to Note 5 (Investment Securities) for further discussion. Nonmarketable Equity Securities Nonmarketable equity securities include the Bank’s required investments in the stock of the Federal Home Loan Bank of Des Moines, or the FHLB and the Federal Reserve Bank, or the FRB. The Bank is a member of the FHLB as well as its regional FRB. Members are required to own a certain amount of stock based of the level of borrowing and other factors, and may invest in additional amounts. FHLB stock and FRB stock are carried at cost, classified as other assets, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. Loans Held for Sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses are recognized through a valuation allowance by charges to income. Gains (losses) on loan sales are recorded in mortgage banking revenue on the consolidated statements of income. Loans Loans are stated at the amount of unpaid principal, reduced by an allowance for credit losses. Loans that management has the intent and ability to hold for the foreseeable future, until maturity or pay-off, generally are reported at their outstanding unpaid principal balances adjusted for charge-offs, and the allowance for credit losses. Loan fees received that are associated with originating or acquiring certain loans are deferred, net of costs, and amortized over the life of the loan as a yield adjustment to interest income. The accrual of interest on loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Consumer loans are typically charged-off no later than 120 days past due. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest in considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual or charged-off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. ACL on Loans Upon adoption of ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Under the current expected credit loss, or CECL, accounting standard the ACL is a valuation estimated at each balance sheet date and deducted from the amortized cost basis of loans held for investment to present the net amount expected to be collected. The Company estimates the ACL based on the underlying assets’ amortized cost basis, which is the amount at which the financing receivable is originated or acquired, adjusted for collection of cash and charge-offs, as well as applicable accretion or amortization of premium, discount and net deferred fees or costs. In the event that collection of principal becomes uncertain, the Company has policies in place to reverse accrued interest in a timely manner. Therefore, the Company has made the policy election to exclude accrued interest from the measurement of ACL. The ACL on loans is increased by charges to provision for credit losses and reduced by charge-offs, net of recoveries. Management evaluates the appropriateness of the ACL on loans quarterly. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant change from period to period. The ACL on loans is presented on the consolidated statements of condition. ​ Loans past due 30 days or more are considered delinquent. In general, secured loans that are delinquent for 90 consecutive days are placed on non-accrual status and may be subject to individual loss assessment in accordance with established internal policy. In general, unsecured loans that are delinquent for 90 consecutive days have a provision taken for the full amount of the loan. ​ In cases where a borrower experiences financial difficulty, the Company may make certain concessions for which the terms of the loan are modified. Loans experiencing financial difficulty can include modifications for an interest rate reduction below current market rates, a forgiveness of principal balance, an extension of the loan term, an-other than significant payment delay, or some combination of similar types of modifications. During the years ended December 31, 2023 and 2022, the Company did not provide any modifications to loans under these circumstances that were experiencing financial difficulty. ​ The ACL on loans reduces the loan portfolio to the net amount expected to be collected, and represents the expected losses over the life of all loans at the reporting date. The allowance incorporates forward-looking information and applies a reversion methodology beyond the reasonable and supportable forecast. ​ The ACL on loans represents the Company's estimated risk of loss within its loan portfolio as of the reporting date. To appropriately measure expected credit losses, management disaggregates the loan portfolio into pools of similar risk characteristics ( i.e. ​ As of December 31, 2023, the primary macroeconomic drivers used within the discounted cash flow model included forecasts of National Unemployment, changes in National GDP, and changes in the National Housing Price Index. These macroeconomic drivers may change from time to time as a result of management’s assessment of continued suitability of each factor. ​ To determine its reasonable and supportable forecast, management may leverage macroeconomic forecasts obtained from various reputable sources, which may include, but is not limited to, the Federal Open Market Committee forecast and other publicly available forecasts from well recognized, leading economists or firms. External baseline forecasts are supplemented an assessment of the likelihood of standard alternative scenarios occurring over the forecast period. The Company’s reasonable and supportable forecast period generally ranges from one to two years, depending on the facts and circumstances of the current state of the economy, portfolio segment and management’s judgement of what can be reasonably supported. The model reversion period generally ranges from one to two years, and it also depends on the current state of the economy and management’s judgments of such. Management monitors and assesses the forecast and reversion period at least annually. The Company used a one-year forecast and reversion period to calculate the ACL on loans as of December 31, 2023. ​ The ACL on loans is calculated over a loan’s contractual life. For term loans, the contractual life is calculated based on the maturity date. For revolving loans, the contractual life is based on either the estimated maturity date or a default date. For revolving loans with no stated maturity date, the contractual life is calculated based on the annual attrition rate for the pool. The contractual term does not include expected extension, renewals or modifications. ​ The Company's loan portfolio is segmented into 11 homogenous pools as follows based on the various risk profiles of the Company's loans: ​ ● Commercial & Industrial ● CRE – Construction, Land & Development ● CRE – Multifamily ● CRE – Non-Owner Occupied ● CRE – Owner Occupied ● Agricultural ● Residential – 1st Lien ● Residential – Construction ● Residential – HELOC ● Residential – Jr Lien ● Consumer ● Paycheck Protection Program ​ In calculating the ACL on loans, the contractual life of a loan must be adjusted for prepayments to arrive at expected cash flows. The Company models term loans using an annualized prepayment. When the Company has a specific expectation of differing payment behavior for a given loan, the loan may be evaluated individually. For revolving loans that do not have a principal payment schedule, a curtailment rate is factored into the cash flow. ​ The ACL on loans evaluation may also consider various qualitative factors, such as: actual or expected changes in economic trends and conditions, changes in the value of underlying collateral for loans, changes to lending policies, underwriting standards and/or management personnel performing such functions, delinquency and other credit quality trends, credit risk concentrations, if any, changes to the nature of the Company's business impacting the loan portfolio, and other external factors, that may include, but are not limited to, results of internal loan reviews, examinations by bank regulatory agencies, or other such events such as a natural disaster. ​ Certain loans are individually evaluated for estimated credit losses, including those that are classified as substandard or doubtful and are on non-accrual or that have other unique characteristics differing from the segment. Specific reserves are established when appropriate for such loans based on the present value of expected future cash flows of the loan or the estimated realizable value of the collateral, if any. ​ Management may also adjust its assumptions to account for differences between expected and actual losses from period-to-period. The variability of management’s assumptions could alter the ACL on loans materially and impact future results of operations and financial condition. The loss estimation models and methods used to determine the allowance for credit losses are continually refined and enhanced. ​ Off Balance Sheet Credit Related Financial Instruments In the ordinary course of business, the Company enters into commitments to extend credit, including commitments under credit arrangements, commercial letters of credit, and standby letters of credit. Such financial instruments are recorded when they are funded. ACL on Off Balance Sheet Credit Exposures The ACL on off balance sheet credit exposures, excluding those that are unconditionally cancellable by the Company, estimates the expected losses on the unfunded commitments and standby letters of credit at each reporting date. To appropriately measure expected credit losses, management disaggregates the loan portfolio into similar risk characteristics, identical to those determined for the loan portfolio. An estimated funding rate is then applied to the qualifying unfunded loan commitments and standby letters of credit using the Company’s own historical experience to estimate the expected funded for each loan segment as of the reporting date. Once the expected funded amount for each loan segment is determined, the loss rate, which is the calculated expected loan loss as a percent of the amortized cost basis for each loan segment, is applied to calculate the ACL on off-balance sheet credit exposures as of the reporting date. ​ The ACL on off balance sheet credit exposures is presented within accrued expenses and other liabilities on the consolidated balance sheet. A charge (credit) to provision for credit losses on the consolidated statements of income is made to account for the change in the ACL on off-balance sheet exposures between reporting periods.The ACL on off-balance sheet credit related financial instruments was $7.4 million and $3.2 million as of December 31, 2023 and 2022, respectively. ​ Accrued Interest Receivable Accrued interest receivable, including receivables related to investments and loans, is excluded from the measurement of the ACL. Accrued interest receivable is written off by reversing previously recognized interest income. The Company has a robust policy in place to write off accrued interest when a loan is placed on non-accrual. For loans, a write-off typically occurs when a loan has been in default for 90 days or more. Land, Premises and Equipment, Net Land is carried at cost. Other premises and equipment are carried at cost net of accumulated depreciation. Depreciation is computed on a straight-line method based principally on the estimated useful lives of the assets. Maintenance and repairs are expensed as incurred while major additions and improvements are capitalized. Gains (losses) on dispositions are included in current operations. Bank Owned Life Insurance The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at its cash surrender value, or the amount that can be realized, if lower. Goodwill and Other Intangibles, Net Goodwill resulting from acquisitions is not amortized, but is tested for impairment annually. As part of its testing, the Company performs a quantitative analysis to determine whether it is more likely than not that the estimated fair value of a reporting unit is less than its carrying amount. If the Company determines the estimated fair value of a reporting unit is less than its carrying amount using certain qualitative factors, the Company then compares the estimated fair value of the goodwill with its carrying amount, and then measures impairment loss by comparing the estimated fair value of goodwill with the carrying amount of that goodwill. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions, and selecting an appropriate control premium. At December 31, 2023, the Company believes it did not have any indications of potential impairment based on the estimated fair value of the reporting units. Intangible assets determined to have definite lives are amortized over the remaining useful lives. Intangible and other long-lived assets are reviewed for impairment whenever events occur, or circumstances indicate that the carrying amount may not be recoverable. Mortgage Banking Residential real estate loans are originated for purposes of being held for investment and held for sale into the secondary market. The transfer of these financial assets is accounted for as a sale when control over the asset has been surrendered. Control is deemed to be surrendered when the asset has been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred asset, and the Company records the gain on sale of the financial asset within mortgage banking income on the consolidated statements of income. Servicing assets are recognized as separate assets when servicing rights are acquired through the sale of residential mortgage loans with servicing rights retained. Capitalized servicing rights are initially recorded at estimated fair value based on assumptions provided by a third-party valuation service. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as servicing cost per loan, the discount rate, the escrow float rate, an inflation rate, ancillary income, prepayment speeds, and default rates and losses. Loan servicing income is recorded on the accrual basis and includes servicing fees from investors and certain charges collected from borrowers, such as late payment fees, and is net of estimated fair value adjustments to capitalized mortgage servicing rights. Capitalized servicing rights are amortized into mortgage banking income in proportion to, and over the period of, the estimated future servicing income of the underlying loans. Servicing rights are accounted for at the lower of amortized cost or fair value. Servicing rights are evaluated for impairment based upon the estimated fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights by predominant characteristics, such as interest rates and terms. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that estimated fair value is less than the capitalized amount for the tranche. If the Company later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the allowance may be recorded as an increase to income. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan, and are recorded as income when earned. The amortization of servicing rights is netted against loan servicing fee income. Impairment of Long Lived Assets The Company tests long lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. In the event such an asset is considered impaired, the impairment to be recognized is measured by the amount by which the carrying value of the asset exceeds the estimated fair value of the asset. Assets to be disposed of are reported at the lower of the carrying value of estimated fair value less estimated costs to sell. Leases The Company leases office space, space for ATM locations and certain branch locations under noncancellable operating leases, several of which have renewal options to extend the lease terms. Upon commencement of a new lease, the Company will recognize a right-of-use, or ROU, asset and a corresponding lease liability. The Company makes the decision on whether to renew an option to extend a lease by considering various factors. The Company will recognize an adjustment to ROU asset and lease liability when lease agreements are amended and executed. The discount rate used in determining the present value of lease payments is based on the lessor’s implicit rate in the lease if known or the Company’s incremental borrowings rate for borrowing terms similar to each lease at commencement date. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. For real estate leases, non-lease components, such as common area maintenance charges, real estate taxes and insurance, are not included in the measurement of the lease liability since they are generally able to be segregated. The Company has elected the short-term lease recognition exemption for all leases that qualify. Foreclosed Assets Assets acquired through loan foreclosure are included in other assets and are initially recorded at estimated fair value less estimated selling costs. The estimated fair value of foreclosed assets is evaluated regularly and any decreases in value along with holding costs, such as taxes, insurance and utilities, are reported in noninterest expense. Transfers of Financial Assets and Participating Interests Transfers of financial assets are accounted for as sales when control over assets has been surrendered or in the case of loan participation, a portion of the asset has been surrendered and meets the definition of a “participating interest.” Control over transferred assets is deemed to be surrendered when 1) the assets have been isolated from the Company, 2) the transferee obtains the rights to pledge or exchange the transferred assets, and 3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Should the transfer not meet these three criteria, the transaction is treated as a secured financing. Loans serviced for others are not included in the accompanying consolidated balance sheets. Servicing loans for others generally consists of collecting mortgage payments, maintaining escrow accounts, disbursing payments to investors and collection and foreclosure processing. Short-Term and Long-Term Borrowings Short-term borrowings are those that, at time of origination, are scheduled to mature within one year. The Company’s short-term borrowings include, but are not limited to, FHLB overnight and FHLB advances, federal funds purchased, and line-of-credit advances. Long-term borrowings are those that, at time of origination, are scheduled to mature in one or more years. The Company’s long-term borrowings include, but are not limited to, FHLB advances, subordinated notes payable, trust preferred securities, and junior subordinated debentures. Short-term and long-term borrowings on the consolidated statements of income are presented net of unamortized issuance costs, if any, and amortized over the life of the borrowing. The Company is required to post collateral for certain borrowings, for which it generally posts loans and/or investment securities as collateral. Derivatives and Hedging Activities In the ordinary course of business, the Company enters into derivative transactions to manage various risks and to accommodate the business requirements of its clients. Derivative instruments are reported in other assets or other liabilities at estimated fair value. The Company formally documents relationships between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedge transactions. The Company also assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are effective

New Accounting Pronouncements

New Accounting Pronouncements	12 Months Ended
	Dec. 31, 2023
New Accounting Pronouncements
New Accounting Pronouncements	NOTE 2 New Accounting Pronouncements The following Financial Accounting Standards Board, or FASB, Accounting Standards Updates, or ASUs are divided into pronouncements which have been adopted by the Company since January 1, 2023, and those which are not yet effective and have been evaluated or are currently being evaluated by management, as of December 31, 2023. Adopted Pronouncements On January 1, 2023, the Company adopted ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The measurement of expected credit losses under the CECL accounting standard is applicable to financial assets measured at amortized cost, including loan receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar agreements). In addition, ASC 326 made changes to the accounting for AFS and HTM debt securities. One such change is to require credit losses to be presented as an allowance, rather than as a write-down. The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost, off-balance sheet credit exposures, and AFS and HTM debt securities. Results for reporting periods beginning after December 31, 2022, are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. Upon adoption, the Company recorded a cumulative-effect adjustment of $4.5 million reducing retained earnings, with a corresponding adjustment of $3.9 million increasing the ACL on loans, an adjustment of $172 thousand increasing the ACL on HTM debt securities, an adjustment of $1.9 million increasing other liabilities for the ACL on off-balance sheet credit exposures, and an adjustment of $1.5 million increasing deferred tax assets as of January 1, 2023. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration previously classified as purchased credit impaired and accounted for under ASC 310-30. In accordance with the standard, management did not reassess whether purchased credit impaired, or PCI, assets met the criteria of purchased credit deteriorated, or PCD, assets as of the date of adoption. The following table illustrates the impact of ASC 326: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, 2023 ​ ​ As reported ​ ​ ​ ​ Pre-tax impact of (dollars in thousands) under ​ Pre-ASC 326 ​ ASC 326 Assets: ASC 326 ​ Adoption ​ Adoption Investments ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of state and political agencies ​ $ 110 ​ $ — ​ $ 110 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ ​ 62 ​ ​ — ​ ​ 62 Total allowance for held-to-maturity investment securities ​ ​ 172 ​ ​ — ​ ​ 172 Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 8,526 ​ ​ 9,233 ​ ​ (707) Real estate construction ​ ​ 3,986 ​ ​ 1,437 ​ ​ 2,549 Commercial real estate ​ ​ 12,630 ​ ​ 12,761 ​ ​ (131) Total commercial ​ ​ 25,142 ​ ​ 23,431 ​ ​ 1,711 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ ​ 8,126 ​ ​ 5,857 ​ ​ 2,269 Residential real estate junior lien ​ ​ 1,291 ​ ​ 1,318 ​ ​ (27) Other revolving and installment ​ ​ 444 ​ ​ 540 ​ ​ (96) Total consumer ​ ​ 9,861 ​ ​ 7,715 ​ ​ 2,146 Total allowance for loans ​ ​ 35,003 ​ ​ 31,146 ​ ​ 3,857 Allowance for credit losses on loans and investments securities ​ $ 35,175 ​ $ 31,146 ​ $ 4,029 Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses on unfunded commitments ​ $ 5,159 ​ $ 3,244 ​ $ 1,915 ​ In March 2022, the FASB issued ASU No. 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Layer Method, which clarifies the guidance on fair value hedge accounting of interest rate risk portfolios of financial assets. ASU 2022-01 updates guidance in Topic 815, to expand the scope of the current last-of-layer method to allow multiple hedged layers to be designated for a single closed portfolio of financial assets or one or more beneficial interests secured by a portfolio of financial instruments on a prospective basis. Additionally, ASU 2022-01 clarifies that basis adjustments related to existing portfolio layer hedge relationships should not be considered when measuring credit losses on the financial assets included in the closed portfolio. Further, ASU 2022-01 clarifies that any reversal of fair value hedge basis adjustments associated with an actual breach should be recognized in interest income immediately. ASU 2022-01 was effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company adopted ASU 2022-01 effective January 1, 2023, and entered into a fair value hedge agreement on February 10, 2023 and adopted the portfolio layer method of accounting for this transaction. This adoption had no impact on the Company’s consolidated financial statements as the Company did not have any hedged assets using the last-of-layer hedge accounting method. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments – Credit Losses Troubled Debt Restructurings and Vintage Disclosures. The amendments in this update eliminate the accounting guidance for Troubled Debt Restructurings, or TDRs, by creditors in Subtopic 310-40. Receivables – Troubled Debt Restructurings by Creditors, while enhancing the disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. For public business entities, this amendment also has vintage disclosures that require that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20 Financial Instruments – Credit Losses – Measured at Amortized Cost. For entities that had not yet adopted the amendment in ASU 2016-13, the effective date for the amendments in this update are same as the effective date for ASU 2016-13. The Company adopted this ASU on January 1, 2023, and had no loans experience financial difficulty in the current period. Pronouncements Not Yet Effective In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. These amendments provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The ASU provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that the London Interbank Offered Rate (“LIBOR”) reference or another reference rate expected to be discontinued. It is intended to help stakeholders during the global market-wide reference rate transition period. The guidance is effective for all entities as of March 12, 2020, through December 31, 2022. In January 2021, the FASB issued ASU 2021-01. Reference Rate Reform (Topic 848) in response to concerns about structural risks in accounting for reference rate reform. The ASU clarifies certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that affected by the discontinuing transition. LIBOR is used as an index rate for a portion of the Company’s available-for-sale securities, derivative contracts, subordinated notes payable, junior subordinated debentures, and approximately 5.3% of the Company’s loans, as of December 31, 2023. If reference rates are discontinued, the existing contracts will be modified to replace the discounted rate with a replacement rate. For accounting purposes, such contract modifications would have to be evaluated to determine whether the modified contract is a new contract or a continuation of an existing contract. If they are considered new contracts, the previous contract would be extinguished. Under one of the optional expedients of ASU 2020-04, modifications of contracts within the scope of Topic 310, receivables, and 470, Debt, will be accounted for by prospectively adjusting the effective interest rates and no such evaluation is required. When elected, the optional expedient for contract modifications must be applied consistently for all eligible contracts or eligible transactions. The Company is in the process of evaluating the impact of this pronouncement of those financial assets and liabilities where LIBOR is used as an index rate. In December 2022, the FASB issued ASU 2022-06 Reference Rate Reform (Topic 848) Deferral of the Sunset Date of Topic 848. This amendment provides an update to defer the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which all entities will no longer be permitted to apply the relief in Topic 848. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in this ASU related to the rate reconciliation and income taxes paid disclosures improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. The other amendments in this Update improve the effectiveness and comparability of disclosures by adding disclosures of pretax income (or loss) and income tax expense (or benefit) to be consistent with U.S. Securities and Exchange Commission (SEC) Regulation S-X 210.4-08(h), Rules of General Application—General Notes to Financial Statements: Income Tax Expense, and removing disclosures that no longer are considered cost beneficial or relevant. For public business entities, the amendments in this ASU are effective for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this Update should be applied on a prospective basis. Retrospective application is also permitted.

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2023
Business Combinations
Business Combinations	NOTE 3 Business Combinations On July 1, 2022, the Company acquired MPB BHC, Inc., the bank holding company for Metro Phoenix Bank located in Phoenix, Arizona, for a total purchase price of $64.0 million in a stock-for-stock transaction. The primary reasons for the acquisition were to expand the Company’s operations in the Phoenix MSA and grow the size of the Company’s business. As part of the transaction, $7.6 million was allocated to a customer deposit intangible and $15.1 million to goodwill, which is not deductible for income tax purposes. Goodwill resulting from the acquisition was allocated to the Company’s Banking segment. The purchase consisted of $270.4 million in loans and $353.7 million in deposits. The purchased assets and assumed liabilities were recorded at their respective acquisition date estimate fair values indicated in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As recorded by Preliminary Fair Value ​ As recorded by (dollars in thousands) Metro Phoenix Bank Adjustments the Company Assets ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 101,819 ​ $ (123) ​ $ 101,696 Fed funds sold ​ ​ 18,936 ​ ​ — ​ ​ 18,936 Core deposit intangible ​ ​ — ​ ​ 7,592 ​ ​ 7,592 Loans ​ ​ 273,843 ​ ​ (3,440) ​ ​ 270,403 Accrued interest receivable ​ ​ 1,091 ​ ​ — ​ ​ 1,091 Other assets ​ ​ 3,342 ​ ​ 188 ​ ​ 3,530 Total assets ​ ​ 399,031 ​ ​ 4,217 ​ ​ 403,248 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 354,529 ​ ​ (844) ​ ​ 353,685 Other liabilities ​ ​ 673 ​ ​ — ​ ​ 673 Total liabilities ​ ​ 355,202 ​ ​ (844) ​ ​ 354,358 Excess assets over liabilities ​ $ 43,829 ​ $ 5,061 ​ ​ 48,890 Stock issued for MPB ​ ​ ​ ​ ​ ​ ​ ​ 64,019 Total goodwill recorded ​ ​ ​ ​ ​ ​ ​ $ 15,129 ​ ​ ​ The following table presents pro forma information for the years ended December 31, 2022 and 2021, as if the acquisition had occurred on January 1, 2022. This table has been prepared for comparative purposes only and is not indicative of the actual results that would have been attained had the acquisition occurred as of the beginning of the periods presented, nor is it indicative of future results. Furthermore, the unaudited pro forma information does not reflect management’s estimate of any revenue-enhancing opportunities nor anticipated cost savings as a result of the integration and consolidation of the acquisition. Pro forma results for the periods presented are: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pro Formas (unaudited) ​ ​ for the years ended December 31, (dollars in thousands) 2022 2021 Net interest income after provision for credit losses ​ $ 107,172 ​ $ 104,087 Noninterest income ​ 112,755 ​ 151,499 Noninterest expense ​ ​ 166,476 ​ ​ 178,337 Net income (after tax) ​ ​ 40,784 ​ ​ 58,585 Basic earnings per common share ​ $ 2.17 ​ $ 3.36 Diluted earnings per common share ​ $ 2.14 ​ $ 3.30 ​ The Company recorded acquisition related costs of $2.5 million for the year ended December 31, 2022. These costs were included in professional fees and assessments expenses in the Company’s consolidated statements of income. ​ As part of the acquisition of Metro Phoenix Bank, the Company acquired loans that displayed evidence of deterioration of credit quality since origination and the Company believed it to be probable that all contractually required payments would not be collected. The carrying amounts and contractually required payments of these loans, which are included in the loan balances in Note 6 (Loans and Allowance for Credit Losses) of the consolidated financial statements, as of December 31, 2022, were as follows: ​ ​ ​ ​ ​ ​ ​ December 31, (dollars in thousands) 2022 Real estate construction $ 175 Outstanding balance ​ ​ 175 Carrying amount ​ ​ 151 Allowance for credit losses on loans ​ ​ — Carrying amount, net of allowance for loan losses ​ $ 151 ​ ​ Accretable yield, or income expected to be collected, is shown in the table below: ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, (dollars in thousands) 2022 Beginning balance $ 177 New loans purchased ​ ​ — Accretion of income ​ ​ — Ending balance ​ $ 177 ​

Restrictions on Cash and Due fr

Restrictions on Cash and Due from Banks	12 Months Ended
	Dec. 31, 2023
Restrictions on Cash and Due from Banks
Restrictions on Cash and Due from Banks	NOTE 4 Restrictions on Cash and Due from Banks Banking regulators require bank subsidiaries to maintain minimum average reserve balances, either in the form of vault cash or reserve balances held with central banks or other financial institutions. There was no amount of required reserve balances at December 31, 2023 and 2022. In addition to vault cash, the Company held balances at the Federal Reserve Bank and other financial institutions of $101.0 million and $28.0 million at December 31, 2023 and 2022, respectively, to meet these requirements. The balances are included in cash and cash equivalents on the Consolidated Balance Sheets. ​

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2023
Investment Securities
Investment Securities	NOTE 5 Investment Securities The following tables present amortized cost, gross unrealized gains and losses, allowance for credit losses, and fair value of the AFS investment securities and HTM investment securities as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Allowance for ​ Fair (dollars in thousands) Cost ​ Gains ​ Losses ​ Credit Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ $ 1,119 ​ $ 4 ​ $ (3) ​ $ — ​ $ 1,120 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ 524,140 ​ 1 ​ (88,547) ​ ​ — ​ 435,594 Commercial ​ 1,476 ​ — ​ (123) ​ ​ — ​ 1,353 Asset backed securities ​ 26 ​ — ​ (1) ​ ​ — ​ 25 Corporate bonds ​ 57,993 ​ — ​ (9,349) ​ ​ — ​ 48,644 Total available-for-sale investment securities ​ ​ 584,754 ​ ​ 5 ​ ​ (98,023) ​ ​ — ​ ​ 486,736 Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of state and political agencies ​ ​ 129,603 ​ — ​ (12,613) ​ ​ 114 ​ 116,990 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ ​ 170,125 ​ — ​ (28,498) ​ ​ 99 ​ 141,627 Total held-to-maturity investment securities ​ ​ 299,728 ​ ​ — ​ ​ (41,111) ​ ​ 213 ​ ​ 258,617 Total investment securities ​ $ 884,482 ​ $ 5 ​ $ (139,134) ​ $ 213 ​ $ 745,353 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Allowance for ​ Fair (dollars in thousands) Cost ​ Gains ​ Losses ​ Credit Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ $ 3,518 ​ $ 19 ​ $ (17) ​ ​ N/A ​ $ 3,520 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ 705,845 ​ 2 ​ (118,168) ​ ​ N/A ​ 587,679 Commercial ​ 70,669 ​ — ​ (7,111) ​ ​ N/A ​ 63,558 Asset backed securities ​ 34 ​ — ​ — ​ ​ N/A ​ 34 Corporate bonds ​ 69,501 ​ — ​ (6,968) ​ ​ N/A ​ 62,533 Total available-for-sale investment securities ​ ​ 849,567 ​ ​ 21 ​ ​ (132,264) ​ ​ N/A ​ ​ 717,324 Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of state and political agencies ​ ​ 137,787 ​ — ​ (17,736) ​ ​ N/A ​ ​ 120,051 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ ​ 184,115 ​ — ​ (33,254) ​ ​ N/A ​ ​ 150,861 Total held-to-maturity investment securities ​ ​ 321,902 ​ ​ — ​ ​ (50,990) ​ ​ N/A ​ ​ 270,912 Total investment securities ​ $ 1,171,469 ​ $ 21 ​ $ (183,254) ​ ​ N/A ​ $ 988,236 ​ The adequacy of the ACL on investment securities is assessed at the end of each quarter. The Company does not believe that the AFS debt securities that were in an unrealized loss position as of December 31, 2023 represent a credit loss impairment. As of December 31, 2023 and 2022, the gross unrealized loss positions were primarily related to mortgage-backed securities issued by U.S. government agencies or U.S. government-sponsored enterprises. These securities carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk free,” and have a long history of zero credit loss. Additionally, there were corporate bonds in gross unrealized loss positions; however, all bonds had an investment grade rating as of December 31, 2023 and 2022. Total gross unrealized losses were attributable to changes in interest rates, relative to when the investment securities were purchased, and not due to the credit quality of the investment securities. The Company does not intend to sell the investment securities that were in an unrealized loss position and it is not more likely than not that the Company will be required to sell the investment securities before recovery of their amortized cost basis, which may be at maturity. ​ The ACL on HTM debt securities is estimated using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable supportable forecasts. Using a probability of default and loss given default analysis an allowance for credit losses was established in the amount of $213 thousand as of December 31, 2023. ​ Accrued interest receivable on AFS investment securities and HTM investment securities is recorded in accrued interest receivable and is excluded from the estimate of credit losses. As of December 31, 2023, the accrued interest receivable on AFS investment securities and HTM investment securities totaled $1.5 million and $1.4 million, respectively. As of December 31, 2022, the accrued interest receivable on AFS investment securities and HTM investment securities totaled $1.9 million and $1.5 million, respectively. On April 1, 2021, the Company transferred its state and political agencies debt securities portfolio, with a fair value of $149.2 million and a net unrealized gain of $1.3 million, from AFS to HTM. At December 31, 2023 and 2022, the net unrealized gains on the transferred securities were $108 thousand and $272 thousand, net of a deferred tax of $55 thousand and $137 thousand, respectively. Proceeds from the sale of AFS securities for the years ended December 31, 2023, 2022, and 2021 are displayed in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2023 2022 2021 Proceeds ​ $ 171,758 ​ $ — ​ $ 13,189 Realized gains ​ — ​ — ​ ​ 114 Realized losses ​ (24,643) ​ — ​ ​ — ​ Proceeds from the call of HTM securities for the years ended December 31, 2023, 2022 and 2021 are displayed in the table below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2023 2022 2021 Proceeds ​ $ 242 ​ $ 963 ​ $ 1,772 Realized gains ​ — ​ — ​ ​ 11 Realized losses ​ — ​ — ​ ​ — ​ During the years ended December 31, 2023 and 2022, there were no sales of HTM securities. During the year ended December 31, 2021, the company sold one held-to-maturity security with an amortized cost of $330 thousand. Proceeds from the sale totaled $348 thousand, resulting in realized gains of $11 thousand. For this sale of a held-to-maturity security, the Company received evidence of a significant deterioration of the issuer’s creditworthiness. The following table presents investment securities with gross unrealized losses, for which an ACL has not been recorded at December 31, 2023 and 2022, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ Less than 12 Months ​ Over 12 Months ​ Total ​ ​ Number of ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair (dollars in thousands) Holdings ​ Losses Value Losses Value Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ 1 ​ $ (3) ​ $ 489 ​ $ — ​ $ — ​ $ (3) ​ $ 489 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ 112 ​ — ​ 43 ​ (88,547) ​ 435,505 ​ (88,547) ​ 435,548 Commercial ​ 1 ​ — ​ — ​ (123) ​ 1,353 ​ (123) ​ 1,353 Asset backed securities ​ 3 ​ — ​ — ​ (1) ​ 25 ​ (1) ​ 25 Corporate bonds ​ 12 ​ — ​ — ​ (9,349) ​ 48,644 ​ (9,349) ​ 48,644 Total available-for-sale investment securities ​ 129 ​ $ (3) ​ $ 532 ​ $ (98,020) ​ $ 485,527 ​ $ (98,023) ​ $ 486,059 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ Less than 12 Months ​ Over 12 Months ​ Total ​ ​ Number of ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair (dollars in thousands) Holdings ​ Losses Value Losses Value Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ 1 ​ $ (17) ​ $ 509 ​ $ — ​ $ — ​ $ (17) ​ $ 509 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ 145 ​ (10,457) ​ 79,693 ​ (107,711) ​ 507,418 ​ (118,168) ​ 587,111 Commercial ​ 17 ​ (4,835) ​ 50,437 ​ (2,276) ​ 13,120 ​ (7,111) ​ 63,557 Asset backed securities ​ 3 ​ — ​ 32 ​ — ​ 2 ​ — ​ 34 Corporate bonds ​ 17 ​ (4,452) ​ 48,048 ​ (2,516) ​ 14,484 ​ (6,968) ​ 62,532 Total available-for-sale investment securities ​ 183 ​ ​ (19,761) ​ ​ 178,719 ​ ​ (112,503) ​ ​ 535,024 ​ ​ (132,264) ​ ​ 713,743 Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of state and political agencies ​ 181 ​ ​ (3,336) ​ ​ 18,788 ​ ​ (14,400) ​ ​ 98,762 ​ ​ (17,736) ​ ​ 117,550 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ 27 ​ ​ — ​ ​ — ​ ​ (33,254) ​ ​ 150,861 ​ ​ (33,254) ​ ​ 150,861 Total held-to-maturity investment securities ​ 208 ​ ​ (3,336) ​ ​ 18,788 ​ ​ (47,654) ​ ​ 249,623 ​ ​ (50,990) ​ ​ 268,411 Total investment securities ​ 391 ​ $ (23,097) ​ $ 197,507 ​ $ (160,157) ​ $ 784,647 ​ $ (183,254) ​ $ 982,154 ​ As of December 31, 2023 and 2022, the unrealized losses on the Company’s AFS debt securities have not been recognized into income because management does not intend to sell and it is not more-likely-than-not that the Company will be required to sell any of the debt securities before recovery of its amortized cost basis. Furthermore, the unrealized losses were due to changes in interest rates and other market conditions, were not reflective of credit events and the issuers continue to make timely principal and interest payments on the bonds. Agency-backed and government-sponsored enterprise securities have a long 40-year history with no credit losses, including during times of severe stress. The principal and interest payments on agency-guaranteed debt is backed by the U.S. government. Government-sponsored enterprises similarly guarantee principal and interest payments and carry an implicit guarantee from the U.S. Department of the Treasury. Additionally, government-sponsored enterprise securities are exceptionally liquid, readily marketable, and provide a substantial amount of price transparency and price parity, indicating a perception of zero credit losses. Subordinate corporate bonds are primarily comprised of investment grade senior notes and senior subordinated notes on other financial institutions. HTM municipal debt holdings are comprised solely of high credit quality state and municipal obligations. High credit quality state and municipal obligations have a history of zero to near-zero credit loss. The Company determined that the expected credit loss on its HTM portfolio was $213 thousand as of December 31, 2023. The Company determined that the expected credit loss on its HTM portfolio was immaterial, and therefore, an allowance was not carried on its HTM debt securities at December 31, 2022. As of December 31, 2023 and 2022, none of the Company’s HTM debt securities were past due or on non-accrual status. The Company did not recognize any interest income on non-accrual HTM debt securities during years ended December 31, 2023, 2022 and 2021. ​ The following table presents amortized cost and fair value of AFS investment securities and the carrying value and fair value of HTM investment securities at December 31, 2023, by contractual maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-maturity ​ Available-for-sale ​ ​ Carrying ​ Fair ​ Amortized ​ Fair (dollars in thousands) Value ​ Value ​ Cost Value Due within one year or less ​ $ 8,588 ​ $ 8,474 ​ $ — ​ $ — Due after one year through five years ​ 47,995 ​ 44,557 ​ 524 ​ 521 Due after five years through ten years ​ 60,289 ​ 52,729 ​ 59,477 ​ 50,004 Due after 10 years ​ 12,731 ​ 11,230 ​ 613 ​ 617 ​ ​ ​ 129,603 ​ ​ 116,990 ​ ​ 60,614 ​ ​ 51,142 Mortgage-backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ ​ 170,125 ​ ​ 141,627 ​ ​ 524,140 ​ ​ 435,594 Total investment securities ​ $ 299,728 ​ $ 258,617 ​ $ 584,754 ​ $ 486,736 ​ Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Investment securities with a total carrying value of $250.0 million and $260.7 million, were pledged at December 31, 2023 and 2022, respectively, to secure public deposits and for other purposes required or permitted by law. As of December 31, 2023 and 2022, the carrying value of the Company’s Federal Reserve Bank stock and Federal Home Loan Bank of Des Moines, or FHLB, stock was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Federal Reserve ​ $ 4,623 ​ $ 4,595 FHLB ​ 16,566 ​ 19,362 ​ These securities can only be redeemed or sold at their par value and only to the respective issuing institution or to another member institution. The Company records these non-marketable equity securities as a component of other assets and periodically evaluates these securities for impairment. Management considers these non-marketable equity securities to be long-term investments. Accordingly, when evaluating these securities for impairment, management considers the ultimate recoverability of the par value rather than recognizing temporary declines in value. Visa Class B Restricted Shares In 2008, the Company received Visa Class B restricted shares as part of Visa’s initial public offering. These shares are transferable only under limited circumstances until they can be converted into the publicly traded Class A common shares. This conversion will not occur until the settlement of certain litigation which will be indemnified by Visa members, including the Company. Visa funded an escrow account from its initial public offering to settle these litigation claims. Should this escrow account be insufficient to cover these litigation claims, Visa is entitled to fund additional amounts to the escrow account by reducing each member bank’s Class B conversion ratio to unrestricted Class A shares. As of December 31, 2023, the conversion ratio was 1.5991. Based on the existing transfer restriction and the uncertainty of the outcome of the Visa litigation mentioned above, the 6,924 Class B shares (11,702 Class A equivalents) that the Company owned as of December 31, 2023 and 2022, were carried at a zero cost basis.

Loans and Allowance for Credit

Loans and Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2023
Loans and Allowance for Credit Losses
Loans and Allowance for Credit Losses	NOTE 6 Loans and Allowance for Credit Losses The following table presents total loans outstanding, by portfolio segment, as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, (dollars in thousands) 2023 2022 Commercial ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 598,321 ​ $ 583,876 Real estate construction ​ 124,034 ​ 97,810 Commercial real estate ​ 1,126,912 ​ 881,670 Total commercial ​ 1,849,267 ​ 1,563,356 Consumer ​ ​ Residential real estate first mortgage ​ 726,879 ​ 679,551 Residential real estate junior lien ​ 154,134 ​ 150,479 Other revolving and installment ​ 29,303 ​ 50,608 Total consumer ​ 910,316 ​ 880,638 Total loans ​ $ 2,759,583 ​ $ 2,443,994 ​ Total loans include net deferred loan fees and costs of $0.2 million and $0.9 million at December 31, 2023 and 2022, respectively. Unearned discounts associated with the acquisition of Metro Phoenix Bank totaled $5.1 million and $7.1 million as of December 31, 2023 and 2022, respectively. Accrued interest receivable on loans is recorded within accrued interest receivable, and totaled $12.2 million at December 31, 2023 and $9.2 million at December 31, 2022. The Company manages its loan portfolio proactively to effectively identify problem credits and assess trends early, implement effective work-out strategies, and take charge-offs as promptly as practical. In addition, the Company continuously reassesses its underwriting standards in response to credit risk posed by changes in economic conditions. The Company monitors and manages credit risk through the following governance structure: ​ ● The Credit Risk team, Collection and Special Assets team and the Credit Governance Committee, which is an internal management committee comprised of various executives and senior managers across business lines, including Accounting and Finance, Credit Underwriting, Collections and Special Assets, Risk, and Commercial and Retail Banking, oversee the Company's systems and procedures to monitor the credit quality of its loan portfolio, conduct a loan review program, and maintain the integrity of the loan rating system. ​ ● The Loan Committee is responsible for reviewing and approving all credit requests that exceed individual limits that have not been countersigned by an individual with sufficient assigned authority. This committee has full authority to commit the Bank to any request that fits within its assigned approval authority. ​ ● The adequacy of the ACL is overseen by the ACL Governance Committee, which is an internal management committee comprised of various Company executives and senior managers across business lines, including Accounting and Finance, Credit Underwriting, Collections and Special Assets, Risk, and Commercial and Retail Banking. The ACL Governance Committee supports the oversight efforts of the Board of Directors. ​ ● The Board of Directors has approval authority and responsibility for all matters regarding loan policy, reviews all loans approved or declined by the Loan Committee, approves lending authority and monitors asset quality and concentration levels. ​ ● The ACL Governance Committee and Bank Board of Directors has approval authority and oversight responsibility for the ACL adequacy and methodology. ​ Loans with a carrying value of $1.6 billion and $1.5 billion were pledged at December 31, 2023 and 2022, respectively, to secure FHLB borrowings, public deposits, and for other purposes required or permitted by law. ​ Segmentation For purposes of determining the ACL on loans, the Company disaggregates its loans into portfolio segments. Each portfolio segment possesses unique risk characteristics that are considered when determining the appropriate level of allowance. As of December 31, 2023, the Company's loan portfolio segments, as determined based on the unique risk characteristics of each, included the following: ​ Commercial & Industrial: ​ Commercial Real Estate – Construction, Land & Development: Construction, Land & Development commercial estate loans primarily consists of loans to commercial real estate construction projects until they are completed. The construction projects are for real property that may include, but are not limited to multifamily residential, commercial/retail office space, industrial/warehouse space, hotels, assisted living facilities and other specific use properties. Construction, Land & Development commercial real estate loans are typically written with interest only, variable rate, multi advance structures. Collateral values are determine based upon appraisals and evaluations in accordance with established policy guidelines. Maximum loan-to-value ratios at origination are governed by established policy and regulatory guidelines. ​ Commercial Real Estate – Multifamily: ​ Commercial Real Estate – Non-Owner Occupied: ​ Commercial Real Estate – Owner Occupied: ​ ​ Agricultural : Agricultural loans include loans secured by farmland and loans for agricultural production. Farmland includes purposes such as crop and livestock production. Farmland loans are typically written with amortizing payment structures. Collateral values for farmland are determined based upon appraisals and evaluations in accordance with established policy guidelines and maximum loan-to-value ratios at origination are governed by established policy and regulatory guidelines. Agricultural production loans are for the purpose of financing working capital and/or capital investment for agriculture production activities. Collateral generally consists of pledges of business assets including, but not limited to, accounts receivable, inventory, plant and equipment, and/or real estate in applicable. Agricultural production loans are primarily paid by the operating cash flow of the borrower. Agricultural production loans may be secured or unsecured. ​ Residential – 1st Lien: ​ Residential – Construction: ​ HELOC: ​ Residential – Jr Lien: ​ Consumer: ​ ​ ACL on Loans The following tables present, by loan portfolio segment, a summary of the changes in the ACL for the three years ending December 31, 2023, 2022, and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2023 ​ ​ Beginning ​ Adoption ​ Provision for ​ Loan ​ Loan ​ Ending (dollars in thousands) Balance of ASC 326 Credit Losses (1) Charge-offs Recoveries Balance Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 9,233 ​ $ (707) ​ $ 645 ​ $ (436) ​ $ 1,159 ​ $ 9,894 Real estate construction ​ ​ 1,437 ​ ​ 2,549 ​ ​ 2,125 ​ ​ — ​ ​ — ​ ​ 6,111 Commercial real estate ​ ​ 12,761 ​ ​ (131) ​ ​ (778) ​ ​ — ​ ​ 45 ​ ​ 11,897 Total commercial ​ ​ 23,431 ​ ​ 1,711 ​ ​ 1,992 ​ ​ (436) ​ ​ 1,204 ​ ​ 27,902 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ ​ 5,857 ​ ​ 2,269 ​ ​ (1,829) ​ ​ (49) ​ ​ 330 ​ ​ 6,578 Residential real estate junior lien ​ ​ 1,318 ​ ​ (27) ​ ​ (115) ​ ​ (77) ​ ​ 52 ​ ​ 1,151 Other revolving and installment ​ ​ 540 ​ ​ (96) ​ ​ (273) ​ ​ (51) ​ ​ 92 ​ ​ 212 Total consumer ​ ​ 7,715 ​ ​ 2,146 ​ ​ (2,217) ​ ​ (177) ​ ​ 474 ​ ​ 7,941 Total ​ $ 31,146 ​ $ 3,857 ​ $ (225) ​ $ (613) ​ $ 1,678 ​ $ 35,843 (1) The difference in the credit loss expense reported herein compared to the consolidated statements of income is associated with the credit loss expense of $2.2 million related to off-balance sheet credit exposure and $40 thousand related to investment securities held-to-maturity. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ ​ Beginning ​ Provision for ​ Loan ​ Loan ​ Ending (dollars in thousands) Balance Loan Losses Charge-offs Recoveries Balance Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 9,218 ​ $ 950 ​ $ (1,396) ​ $ 461 ​ $ 9,233 Real estate construction ​ 810 ​ 551 ​ — ​ 76 ​ 1,437 Commercial real estate ​ 12,778 ​ (151) ​ — ​ 134 ​ 12,761 Total commercial ​ 22,806 ​ 1,350 ​ (1,396) ​ 671 ​ 23,431 Consumer ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 6,874 ​ (1,017) ​ — ​ — ​ 5,857 Residential real estate junior lien ​ 1,380 ​ (344) ​ — ​ ​ 282 ​ 1,318 Other revolving and installment ​ 512 ​ 11 ​ (153) ​ 170 ​ 540 Total consumer ​ 8,766 ​ (1,350) ​ (153) ​ 452 ​ 7,715 Total ​ $ 31,572 ​ $ — ​ $ (1,549) ​ $ 1,123 ​ $ 31,146 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ ​ Beginning ​ Provision for ​ Loan ​ Loan ​ Ending (dollars in thousands) Balance Loan Losses Charge-offs Recoveries Balance Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 10,547 ​ $ (1,759) ​ $ (1,230) ​ $ 1,660 ​ $ 9,218 Real estate construction ​ 690 ​ 120 ​ — ​ — ​ 810 Commercial real estate ​ 14,574 ​ (2,082) ​ (536) ​ 822 ​ 12,778 Total commercial ​ 25,811 ​ (3,721) ​ (1,766) ​ 2,482 ​ 22,806 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 6,174 ​ 700 ​ — ​ — ​ 6,874 Residential real estate junior lien ​ 1,472 ​ (215) ​ — ​ 123 ​ 1,380 Other revolving and installment ​ 789 ​ (264) ​ (156) ​ 143 ​ 512 Total consumer ​ 8,435 ​ 221 ​ (156) ​ 266 ​ 8,766 Total ​ $ 34,246 ​ $ (3,500) ​ $ (1,922) ​ $ 2,748 ​ $ 31,572 ​ ​ The ACL on loans at December 31, 2023, was $35.8 million, an increase of $4.7 million, or 15.1%, since December 31, 2022. The increase was primarily due to the adoption of CECL, which resulted in an additional allowance of $3.9 million in the ACL on loans. As of December 31, 2023 and 2022, the significant model inputs and assumptions used within the discounted cash flow model for purposes of estimating the ACL on loans were: ​ ● Macroeconomic (loss) drivers: As of December 31, 2023 and 2022, the following loss drivers for each loan segment were used to calculate the expected PD over the forecast and reversion period: ● Commercial & Industrial – National Unemployment; Change in National GDP ● CRE – Construction, Land & Development – National Unemployment; Change in National GDP ● CRE – Multifamily – National Unemployment ● CRE – Non-Owner Occupied – National Unemployment; Change in National GDP ● CRE – Owner Occupied – National Unemployment ● Agricultural – (None) ● Residential – 1 st Lien – National Unemployment; Change in National Home Price Index (“HPI”) ● Residential – Construction – National Unemployment; Change in National HPI ● Residential – HELOC – National Unemployment; Change in National HPI ● Residential – Jr Lien – National Unemployment; Change in National HPI ● Consumer – National Unemployment; Change in National GDP ● Paycheck Protection Program – (None) ​ After adoption of ASU 2016-13, given the strong loan growth and the future economic uncertainty, the reserve increased $840 thousand during 2023. This increase was partially offset by the release of certain qualitative factors due to strong asset quality and the continued maturity of the overall model. The increase in the reserve represents the elevated risk of credit loss within the Company's portfolio. ​ Credit Concentrations The Company focuses on maintaining a well-balanced and diversified loan portfolio. Despite such efforts, it is recognized that credit concentrations may occasionally emerge as a result of economic conditions, changes in local demand, natural loan growth and runoff. To identify credit concentrations effectively, all commercial and industrial and owner occupied real estate loans are assigned Standard Industrial Classification codes, North American Industry Classification System codes, and state and county codes. Property type coding is used for investment real estate. As of December 31, 2023, the Company's total exposure to the general business industry was 10.7% of total loans. There were no other industry concentrations exceeding 10% of the Company's total loan portfolio as of December 31, 2023. ​ Credit Quality Indicators The Company’s consumer loan portfolio is primarily comprised of secured loans that are evaluated at origination on a centralized basis against standardized underwriting criteria. The Company generally does not risk rate consumer loans unless a default event such as bankruptcy or extended nonperformance takes place. Credit quality for the consumer loan portfolio is measured by delinquency rates, nonaccrual amounts and actual losses incurred. These loans are rated as either performing or non-performing. The Company assigns a risk rating to all commercial loans, except pools of homogeneous loans, and performs detailed internal and external reviews of risk rated loans over a certain threshold to identify credit risks and to assess the overall collectability of the portfolio. These risk ratings are also subject to examination by the Company’s regulators. During the internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which the borrowers operate and the estimated fair values of collateral securing the loans. These credit quality indicators are used to assign a risk rating to each individual loan. ​ The Company’s ratings are aligned to pass and criticized categories. The criticized category includes special mention, substandard, and doubtful risk ratings. The risk ratings are defined as follows: ● Pass: A pass loan is a credit with no existing or known potential weaknesses deserving of management’s close attention. ● Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, this potential weakness may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date. Special mention loans are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. ● Substandard: Loans classified as substandard are not adequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Loans classified as substandard have a well-defined weakness or weaknesses that jeopardize the repayment of the debt. Well-defined weaknesses include a borrower’s lack of marketability, inadequate cash flow or collateral support, failure to complete construction on time, or the failure to fulfill economic expectations. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. ● Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or repayment in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. ● Loss: Loans classified as loss are considered uncollectible and charged off immediately. ​ The following table sets forth the amortized cost basis of loans by credit quality indicator and vintage based on the most recent analysis performed, as of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ (dollars in thousands) Term Loans Amortized Cost Basis by Origination Year ​ Loans Amortized ​ ​ ​ As of December 31, 2023 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior ​ Cost Basis ​ Total Commercial and industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 197,533 ​ $ 89,090 ​ $ 67,691 ​ $ 64,272 ​ $ 34,603 ​ $ 15,053 ​ $ 100,239 ​ $ 568,481 Special mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ ​ 464 ​ ​ 4,844 ​ ​ 236 ​ ​ 6,328 ​ ​ 94 ​ ​ 2,513 ​ ​ 15,361 ​ ​ 29,840 Doubtful ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Subtotal ​ $ 197,997 ​ $ 93,934 ​ $ 67,927 ​ $ 70,600 ​ $ 34,697 ​ $ 17,566 ​ $ 115,600 ​ $ 598,321 Gross charge-offs for the year ended ​ $ 39 ​ $ — ​ $ 49 ​ $ 11 ​ $ 247 ​ $ 90 ​ $ — ​ $ 436 Real estate construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 29,902 ​ $ 57,944 ​ $ 14,326 ​ $ 122 ​ $ — ​ $ 952 ​ $ 121 ​ $ 103,367 Special mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ ​ — ​ 20,667 ​ — ​ — ​ — ​ — ​ ​ — ​ 20,667 Doubtful ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Subtotal ​ $ 29,902 ​ $ 78,611 ​ $ 14,326 ​ $ 122 ​ $ — ​ $ 952 ​ $ 121 ​ $ 124,034 Gross charge-offs for the year ended ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Commercial real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 272,261 ​ $ 265,549 ​ $ 142,027 ​ $ 153,796 ​ $ 116,861 ​ $ 159,454 ​ $ 7,794 ​ $ 1,117,742 Special mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 262 ​ ​ — ​ ​ 262 Substandard ​ ​ — ​ ​ 587 ​ ​ 2,872 ​ ​ — ​ ​ 3,690 ​ ​ 1,759 ​ ​ — ​ 8,908 Doubtful ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Subtotal ​ $ 272,261 ​ $ 266,136 ​ $ 144,899 ​ $ 153,796 ​ $ 120,551 ​ $ 161,475 ​ $ 7,794 ​ $ 1,126,912 Gross charge-offs for the year ended ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Residential real estate first mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 72,180 ​ $ 207,177 ​ $ 218,719 ​ $ 108,100 ​ $ 33,102 ​ $ 87,212 ​ $ 284 ​ $ 726,774 Non-performing ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 105 ​ ​ — ​ ​ 105 Subtotal ​ $ 72,180 ​ $ 207,177 ​ $ 218,719 ​ $ 108,100 ​ $ 33,102 ​ $ 87,317 ​ $ 284 ​ $ 726,879 Gross charge-offs for the year ended ​ $ — ​ $ — ​ $ 9 ​ $ — ​ $ — ​ $ 40 ​ $ — ​ $ 49 Residential real estate junior lien ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 18,408 ​ $ 15,655 ​ $ 5,946 ​ $ 4,857 ​ $ 1,769 ​ $ 5,280 ​ $ 100,438 ​ $ 152,353 Non-performing ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,781 ​ ​ 1,781 Subtotal ​ $ 18,408 ​ $ 15,655 ​ $ 5,946 ​ $ 4,857 ​ $ 1,769 ​ $ 5,280 ​ $ 102,219 ​ $ 154,134 Gross charge-offs for the year ended ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 77 ​ $ — ​ $ 77 Other revolving and installment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 5,320 ​ $ 6,395 ​ $ 980 ​ $ 4,489 ​ $ 1,554 ​ $ 952 ​ $ 9,613 ​ $ 29,303 Non-performing ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Subtotal ​ $ 5,320 ​ $ 6,395 ​ $ 980 ​ $ 4,489 ​ $ 1,554 ​ $ 952 ​ $ 9,613 ​ $ 29,303 Gross charge-offs for the year ended ​ $ 4 ​ $ 2 ​ $ — ​ $ 31 ​ $ 6 ​ $ 8 ​ $ — ​ $ 51 Total loans ​ $ 596,068 ​ $ 667,908 ​ $ 452,797 ​ $ 341,964 ​ $ 191,673 ​ $ 273,542 ​ $ 235,631 ​ $ 2,759,583 Gross charge-offs for the year ended ​ $ 43 ​ $ 2 ​ $ 58 ​ $ 42 ​ $ 253 ​ $ 215 ​ $ — ​ $ 613 ​ The following table sets forth the risk category of loans by class and credit quality indicator used on the most recent analysis performed as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Criticized ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) Pass Mention Substandard Doubtful Total Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 558,694 ​ $ 21,969 ​ $ 3,213 ​ $ — ​ $ 583,876 Real estate construction ​ 97,548 ​ — ​ 262 ​ — ​ 97,810 Commercial real estate ​ 873,270 ​ — ​ 8,400 ​ — ​ 881,670 Total commercial ​ ​ 1,529,512 ​ ​ 21,969 ​ ​ 11,875 ​ ​ — ​ ​ 1,563,356 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 678,743 ​ 63 ​ 745 ​ — ​ 679,551 Residential real estate junior lien ​ 149,847 ​ — ​ 632 ​ — ​ 150,479 Other revolving and installment ​ 50,607 ​ — ​ 1 ​ — ​ 50,608 Total consumer ​ 879,197 ​ 63 ​ 1,378 ​ — ​ 880,638 Total loans ​ $ 2,408,709 ​ $ 22,032 ​ $ 13,253 ​ $ — ​ $ 2,443,994 ​ Past Due and Nonaccrual Loans The Company closely monitors the performance of its loan portfolio. A loan is placed on non-accrual when the financial condition of the borrower is deteriorating, payment in full of both principal and interest is not expected as scheduled or principal or interest has been in default for 90 days or more. Exceptions may be made if the asset is secured by collateral sufficient to satisfy both the principal and accrued interest in full and collection is reasonably assured. When one loan to a borrower is placed on non-accrual, all other loans to the borrower are re-evaluated to determine if they should also be placed on non-accrual. All previously accrued and unpaid interest is reversed at that time. A loan will return to accrual when collection of principal and interest is assured and the borrower has demonstrated timely payments of principal and interest for a reasonable period, generally at least six months. The following tables present past due aging analysis of total loans outstanding, by portfolio segment, as of December 31, 2023 and 2022, respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ ​ ​ Accruing ​ 30 - 59 Days ​ 60 - 89 Days ​ or More ​ ​ ​ ​ Total (dollars in thousands) Current Past Due Past Due Past Due Nonaccrual Loans Commercial ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 590,663 ​ $ 924 ​ $ — ​ $ 139 ​ $ 6,595 ​ $ 598,321 Real estate construction ​ 124,034 ​ — ​ — ​ — ​ — ​ 124,034 Commercial real estate ​ 1,125,669 ​ 128 ​ — ​ — ​ 1,115 ​ 1,126,912 Total commercial ​ 1,840,366 ​ 1,052 ​ — ​ 139 ​ 7,710 ​ 1,849,267 Consumer ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 724,786 ​ 901 ​ 554 ​ — ​ ​ 638 ​ 726,879 Residential real estate junior lien ​ 153,220 ​ 666 ​ — ​ — ​ 248 ​ 154,134 Other revolving and installment ​ 29,086 ​ 170 ​ 47 ​ — ​ — ​ 29,303 Total consumer ​ 907,092 ​ 1,737 ​ 601 ​ — ​ 886 ​ 910,316 Total loans ​ $ 2,747,458 ​ $ 2,789 ​ $ 601 ​ $ 139 ​ $ 8,596 ​ $ 2,759,583 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ ​ ​ Accruing ​ 30 - 59 Days ​ 60 - 89 Days ​ or More ​ ​ ​ ​ Total (dollars in thousands) Current Past Due Past Due Past Due Nonaccrual Loans Commercial ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 580,288 ​ $ 2,332 ​ $ 94 ​ $ — ​ $ 1,162 ​ $ 583,876 Real estate construction ​ 97,370 ​ — ​ — ​ — ​ 440 ​ 97,810 Commercial real estate ​ 879,830 ​ 368 ​ — ​ — ​ 1,472 ​ 881,670 Total commercial ​ 1,557,488 ​ 2,700 ​ 94 ​ — ​ 3,074 ​ 1,563,356 Consumer ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 677,471 ​ 1,234 ​ 311 ​ — ​ 535 ​ 679,551 Residential real estate junior lien ​ 149,918 ​ 377 ​ — ​ — ​ 184 ​ 150,479 Other revolving and installment ​ 50,360 ​ 237 ​ 10 ​ — ​ 1 ​ 50,608 Total consumer ​ 877,749 ​ 1,848 ​ 321 ​ — ​ 720 ​ 880,638 Total loans ​ $ 2,435,237 ​ $ 4,548 ​ $ 415 ​ $ — ​ $ 3,794 ​ $ 2,443,994 ​ ​ ​ In calculating expected credit losses, the Company includes loans on nonaccrual status and loans 90 days or more past due and still accruing. The following table presents the amortized cost basis on nonaccrual status loans and loans 90 days or more past due and still accruing as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2023 ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ Nonaccrual ​ ​ ​ ​ or More ​ ​ with no Allowance ​ ​ ​ ​ Past Due (dollars in thousands) ​ for Credit Losses ​ Nonaccrual ​ and Accruing Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 79 ​ $ 6,595 ​ $ 139 Real estate construction ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ ​ 95 ​ ​ 1,115 ​ ​ — Total commercial ​ ​ 174 ​ ​ 7,710 ​ ​ 139 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ ​ 632 ​ ​ 638 ​ ​ — Residential real estate junior lien ​ ​ 185 ​ ​ 248 ​ ​ — Other revolving and installment ​ ​ — ​ ​ — ​ ​ — Total consumer ​ ​ 817 ​ ​ 886 ​ ​ — Total loans ​ $ 991 ​ $ 8,596 ​ $ 139 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ Nonaccrual ​ ​ ​ ​ or More ​ ​ with no Allowance ​ ​ ​ ​ Past Due (dollars in thousands) ​ for Credit Losses ​ Nonaccrual ​ and Accruing Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 638 ​ $ 1,162 ​ $ — Real estate construction ​ ​ — ​ ​ 440 ​ ​ — Commercial real estate ​ ​ 576 ​ ​ 1,472 ​ ​ — Total commercial ​ ​ 1,214 ​ ​ 3,074 ​ ​ — Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ ​ 535 ​ ​ 535 ​ ​ — Residential real estate junior lien ​ ​ 184 ​ ​ 184 ​ ​ — Other revolving and installment ​ ​ 1 ​ ​ 1 ​ ​ — Total consumer ​ ​ 720 ​ ​ 720 ​ ​ — Total loans ​ $ 1,934 ​ $ 3,794 ​ $ — ​ Interest income that would have been recognized if loans on nonaccrual status had been current in accordance with their original terms for the years ended December 31, 2023, 2022, and 2021 is estimated to have been $469 thousand, $155 thousand, and $183 thousand, respectively. The Company’s policy is to reverse previously recorded interest income when a loan is placed on nonaccrual. As a result, the Company did not record any interest income on its nonaccrual loans for the years ended years ended December 31, 2023, 2022 and 2021. As of December 31, 2023 and 2022, total accrued interest receivable on loans, which had been excluded from reported amortized cost basis on loans; was $12.2 million and $9.2 million, respectively, and was reported within accrued interest receivable on the consolidated statements of condition. An allowance was not carried on the accrued interest receivable at either date. ​ In cases where a borrower experiences financial difficulty, the Company may make certain concessions for which the terms of the loan are modified. Loans experiencing financial difficulty can include modifications for an interest rate reduction below current market rates, a forgiveness of principal balance, an extension of the loan term, an-other than significant payment delay, or some combination of similar types of modifications. During the years ended December 31, 2023 and 2022, the Company did not provide any modifications to loans under these circumstances that were experiencing financial difficulty. The following table presents the amortized cost basis of collateral dependent loans, by the primary collateral type, which are individually evaluated to determine credit losses, and the related ACL allocated to these loans, as of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2023 ​ ​ Primary Type of Collateral ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for (dollars in thousands) ​ Real estate ​ Equipment ​ Other ​ Total ​ Credit Losses Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 6,124 ​ $ — ​ $ — ​ $ 6,124 ​ $ 2,384 Commercial real estate ​ ​ 695 ​ ​ — ​ ​ 96 ​ ​ 791 ​ ​ 601 Total commercial ​ ​ 6,819 ​ ​ — ​ ​ 96 ​ ​ 6,915 ​ ​ 2,985 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ ​ 638 ​ ​ — ​ ​ — ​ ​ 638 ​ ​ 3 Residential real estate junior lien ​ ​ 134 ​ ​ 22 ​ ​ 93 ​ ​ 249 ​ ​ 6 Total consumer ​ ​ 772 ​ ​ 22 ​ ​ 93 ​ ​ 887 ​ ​ 9 Total loans ​ $ 7,591 ​ $ 22 ​ $ 189 ​ $ 7,802 ​ $ 2,994 ​ Collateral dependent loans are loans for which the repayment is expected to be provided substantially by the underlying collateral and there are no other available and reliable sources of repayment. Pre-ASC 326 Adoption impaired loan disclosures The following tables present the recorded investment in loans and related allowance for the loan losses, by portfolio segment, disaggregated on the basis of the Company’s impairment methodology, as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Recorded Investment ​ Allowance for Loan Losses ​ ​ Individually ​ Collectively ​ ​ ​ ​ Individually ​ Collectively ​ ​ ​ (dollars in thousands) Evaluated Evaluated Total Evaluated Evaluated Total Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 1,313 ​ $ 582,563 ​ $ 583,876 ​ $ 275 ​ $ 8,958 ​ $ 9,233 Real estate construction ​ 262 ​ 97,548 ​ 97,810 ​ ​ 97 ​ ​ 1,340 ​ ​ 1,437 Commercial real estate ​ 1,472 ​ 880,198 ​ 881,670 ​ ​ 582 ​ ​ 12,179 ​ ​ 12,761 Total commercial ​ 3,047 ​ 1,560,309 ​ 1,563,356 ​ ​ 954 ​ ​ 22,477 ​ ​ 23,431 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 535 ​ 679,016 ​ 679,551 ​ ​ — ​ ​ 5,857 ​ ​ 5,857 Residential real estate junior lien ​ 184 ​ ​ 150,295 ​ 150,479 ​ ​ — ​ ​ 1,318 ​ ​ 1,318 Other revolving and installment ​ 1 ​ 50,607 ​ 50,608 ​ ​ — ​ ​ 540 ​ ​ 540 Total consumer ​ 720 ​ 879,918 ​ 880,638 ​ ​ — ​ ​ 7,715 ​ ​ 7,715 Total loans ​ $ 3,767 ​ $ 2,440,227 ​ $ 2,443,994 ​ $ 954 ​ $ 30,192 ​ $ 31,146 ​ The table below summarizes key information on impaired loans as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Recorded ​ Unpaid ​ Related (dollars in thousands) Investment Principal Allowance Impaired loans with a valuation allowance ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 675 ​ $ 711 ​ $ 275 Real estate construction ​ ​ 262 ​ ​ 440 ​ ​ 97 Commercial real estate ​ 896 ​ 900 ​ 582 Residential real estate first mortgage ​ ​ — ​ ​ — ​ ​ — Total impaired loans with a valuation allowance ​ ​ 1,833 ​ ​ 2,051 ​ ​ 954 Impaired loans without a valuation allowance ​ ​ ​ Commercial and industrial ​ ​ 638 ​ ​ 767 ​ ​ — Real estate construction ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ ​ 576 ​ 660 ​ — Residential real estate first mortgage ​ ​ 535 ​ 573 ​ — Residential real estate junior lien ​ ​ 184 ​ 218 ​ — Other revolving and installment ​ ​ 1 ​ 1 ​ — Total impaired loans without a valuation allowance ​ ​ 1,934 ​ ​ 2,219 ​ ​ — Total impaired loans ​ ​ ​ ​ Commercial and industrial ​ ​ 1,313 ​ ​ 1,478 ​ ​ 275 Real estate construction ​ ​ 262 ​ ​ 440 ​ ​ 97 Commercial real estate ​ 1,472 ​ 1,560 ​ 582 Residential real estate first mortgage ​ ​ 535 ​ ​ 573 ​ ​ — Residential real estate junior lien ​ 184 ​ 218 ​ — Other revolving and installment ​ 1 ​ 1 ​ — Total impaired loans ​ $ 3,767 ​ $ 4,270 ​ $ 954 ​ ​ The table below presents the average recorded investment in impaired loans and interest income for the two years ending December 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2022 ​ 2021 ​ ​ Average ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Recorded ​ Interest ​ Recorded ​ Interest (dollars in thousands) Investment Income Investment Income Impaired loans with a valuation allowance ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 722 ​ $ 13 ​ $ 517 ​ $ 13 Real estate construction ​ ​ 442 ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ 935 ​ — ​ ​ 187 ​ 7 Residential real estate first mortgage ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ Residential real estate junior lien ​ — ​ — ​ ​ — ​ — Other revolving and installment ​ — ​ — ​ ​ — ​ — Total impaired loans with a valuation allowance ​ ​ 2,099 ​ ​ 13 ​ ​ 704 ​ ​ 20 Impaired loans without a valuation allowance ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 707 ​ ​ — ​ ​ 1,988 ​ ​ 20 Real estate construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ 618 ​ — ​ ​ 672 ​ — Residential real estate first mortgage ​ 575 ​ — ​ ​ 23 ​ — Residential real estate junior lien ​ 191 ​ ​ — ​ ​ 98 ​ ​ — Other revolving and installment ​ 1 ​ — ​ ​ 1 ​ — Total impaired loans without a valuation allowance ​ ​ 2,092 ​ ​ — ​ ​ 2,782 ​ ​ 20 Total impaired loans ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 1,429 ​ ​ 13 ​ ​ 2,505 ​ ​ 33 Real estate construction ​ ​ 442 ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ 1,553 ​ — ​ ​ 859 ​ 7 Residential real estate first mortgage ​ 575 ​ — ​ ​ 23 ​ — Residential real estate junior lien ​ 191 ​ — ​ ​ 98 ​ — Other revolving and installment ​ 1 ​ — ​ ​ 1 ​ — Total impaired loans ​ $ 4,191 ​ $ 13 ​ $ 3,486 ​ $ 40 ​

Land, Premises and Equipment, N

Land, Premises and Equipment, Net	12 Months Ended
	Dec. 31, 2023
Land, Premises and Equipment, Net
Land, Premises and Equipment, Net	NOTE 7 Land, Premises and Equipment, Net Components of land, premises and equipment at December 31, 2023 and 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Land ​ $ 4,542 ​ $ 4,542 Buildings and improvements ​ 28,172 ​ 26,625 Leasehold improvements ​ ​ 2,657 ​ ​ 2,657 Furniture, fixtures, and equipment ​ 34,086 ​ 36,013 ​ ​ 69,457 ​ 69,837 Less accumulated depreciation ​ (51,517) ​ (52,549) Total ​ $ 17,940 ​ $ 17,288 ​ Depreciation expense for the years ended December 31, 2023, 2022, and 2021 amounted to $2.5 million, $3.0 million, and $3.6 million, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	​ NOTE 8 Goodwill and Other Intangible Assets As of December 31, 2023 and 2022, goodwill totaled $46.8 million and $47.1 million, respectively. The following table summarizes the carrying amounts of goodwill, by segment, as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Banking ​ $ 35,260 ​ $ 35,260 Retirement and benefit services ​ ​ 11,523 ​ ​ 11,827 Total goodwill ​ $ 46,783 ​ $ 47,087 ​ In the third quarter of 2023, the Company sold an ESOP trustee line of business. The reduction in goodwill in 2023 of $304 thousand was attributed to the sale of this line of business. The gross carrying amount and accumulated amortization for each type of identifiable intangible asset are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 (dollars in thousands) Gross Carrying Amount Accumulated Amortization Total Gross Carrying Amount Accumulated Amortization Total Identifiable customer intangibles ​ $ 41,423 ​ $ (29,959) ​ $ 11,464 ​ $ 41,423 ​ $ (25,927) ​ $ 15,496 Core deposit intangible assets ​ ​ 7,592 ​ ​ (1,898) ​ ​ 5,694 ​ ​ 7,592 ​ ​ (633) ​ ​ 6,959 Total intangible assets ​ $ 49,015 ​ $ (31,857) ​ $ 17,158 ​ $ 49,015 ​ $ (26,560) ​ $ 22,455 ​ Aggregate amortization expense for the years ended December 31, 2023, 2022, and 2021 was $5.3 million, $4.8 million, and $4.4 million, respectively. Estimated aggregate amortization expense for future years is as follows: ​ ​ ​ ​ ​ (dollars in thousands) Amount 2024 ​ $ 5,043 2025 ​ ​ 3,904 2026 ​ ​ 2,275 2027 ​ ​ 2,275 2028 ​ ​ 1,642 Thereafter ​ ​ 2,019 Total ​ $ 17,158 ​

Loan Servicing

Loan Servicing	12 Months Ended
	Dec. 31, 2023
Loan Servicing
Loan Servicing	NOTE 9 Loan Servicing Loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of loans serviced for others totaled $190.0 million and $213.5 million at December 31, 2023 and 2022, respectively. Servicing loans for others generally consists of collecting mortgage payments, maintaining escrow accounts, disbursing payments to investors and collection and foreclosure processing. Loan servicing income is recorded on an accrual basis and includes servicing fees from investors and certain charges collected from borrowers, such as late payment fees, and is net of fair value adjustments to capitalized mortgage servicing rights. The following table summarizes the Company’s activity related to servicing rights for the years ended December 31, 2023, 2022, and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2023 2022 2021 Servicing Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of year ​ $ 2,643 ​ $ 1,880 ​ $ 1,987 Additions (1) ​ 300 ​ 1,538 ​ ​ 1,553 Amortization (2) ​ (595) ​ (524) ​ ​ (745) Balance at end of year ​ ​ 2,348 ​ ​ 2,894 ​ ​ 2,795 Less valuation reserve (3) ​ (296) ​ (251) ​ ​ (915) Balance at end of year, net of valuation reserve ​ $ 2,052 ​ $ 2,643 ​ $ 1,880 Fair value, beginning of year ​ $ 2,314 ​ $ 1,892 ​ $ 2,137 Fair value, end of year ​ $ 2,062 ​ $ 2,314 ​ $ 1,892 (1) Associated income was reported within mortgage banking income, net on the consolidated statements of income. (2) Associated amortization expense was reported within other noninterest income on the consolidated statements of income. (3) Associated valuation reserve was reported within mortgage and lending expenses on the consolidated statements of income. ​ The following is a summary of key data and assumptions used in the valuation of servicing rights as of December 31, 2023 and 2022. Increases or decreases in any one of these assumptions would result in lower or higher fair value measurements. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, (dollars in thousands) ​ 2023 ​ 2022 ​ Fair value of servicing rights ​ $ 2,052 ​ $ 2,643 ​ Weighted-average remaining term, years ​ 18.8 ​ 20.5 ​ Prepayment speeds ​ 6.2 % 6.9 % Discount rate ​ 11.1 % 10.5 % ​

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases
Leases	NOTE 10 Leases A lease is defined as a contract, or part of a contract, that conveys the right to control the use of an identified property, plant or equipment for a period of time in exchange for consideration. Substantially all the leases in which the Company is the lessee are comprised of real estate property for branches, and office equipment rentals with terms extending through 2037. Portions of certain properties are subleased for terms extending through 2024. Substantially all of the Company’s leases are classified as operating leases. The Company has no existing finance leases. The Company elected not to include short-term leases (i.e., leases with initial terms of twelve months or less), or equipment leases (deemed immaterial) on the consolidated financial statements. The following table presents the classification of the Company’s right-of-use, or ROU, assets and lease liabilities on the consolidated financial statements as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, (dollars in thousands) ​ 2023 2022 Lease Right-of-Use Assets ​ Classification ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets Operating lease right-of-use assets ​ $ 5,436 ​ $ 5,419 Lease Liabilities ​ ​ ​ Operating lease liabilities Operating lease liabilities ​ $ 5,751 ​ $ 5,902 ​ The calculated amount of the ROU assets and lease liabilities in the table above are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. The Company utilizes its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term for the discount rate. For the Company’s only finance lease, the Company utilized its incremental borrowing rate at lease inception. ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2023 2022 ​ Weighted-average remaining lease term, years ​ ​ ​ ​ ​ Operating leases 7.3 ​ 5.0 ​ Weighted-average discount rate ​ ​ ​ Operating leases 3.9 % 3.1 % ​ As the Company elected, for all classes of underlying assets, not to separate lease and non-lease components and instead to account for them as a single lease component, the variable lease cost primarily represents variable payments such as common area maintenance utilities. Variable lease cost also includes payments for usage or maintenance of those capitalized equipment operating leases. The following table presents lease costs and other lease information for the years ending December 31, 2023, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2023 ​ 2022 ​ 2021 Lease costs ​ ​ ​ ​ ​ ​ ​ Operating lease cost ​ $ 1,914 ​ $ 1,799 ​ $ 1,827 Variable lease cost ​ 1,159 ​ 899 ​ 823 Short-term lease cost ​ 167 ​ 217 ​ 181 Finance lease cost ​ ​ ​ Interest on lease liabilities ​ — ​ 7 ​ 25 Amortization of right-of-use assets ​ — ​ 87 ​ 116 Sublease income ​ (219) ​ (238) ​ (228) Net lease cost ​ $ 3,021 ​ $ 2,771 ​ $ 2,744 Other information ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities operating cash flows from operating leases ​ $ 1,755 ​ $ 1,706 ​ $ 1,763 Right-of-use assets obtained in exchange for new operating lease liabilities ​ ​ 1,868 ​ ​ 4,266 ​ $ 267 ​ Future minimum payments for leases with initial or remaining terms of one year or more as of December 31, 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ Operating (dollars in thousands) Leases Year ended ​ ​ ​ December 31, 2024 ​ $ 1,626 December 31, 2025 ​ 1,243 December 31, 2026 ​ 1,064 December 31, 2027 ​ 516 December 31, 2028 ​ 311 Thereafter ​ 1,831 Total future minimum lease payments ​ $ 6,591 Amounts representing interest ​ (840) Total operating lease liabilities ​ $ 5,751 ​

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2023
Other Assets
Other Assets	NOTE 11 Other Assets Other assets on the balance sheet consisted of the following balances at December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Federal Reserve Bank stock ​ $ 4,623 ​ $ 4,595 Foreclosed assets ​ 32 ​ 30 Prepaid expenses ​ 5,766 ​ 6,770 Investments in partnerships ​ 14 ​ 14 Trust fees accrued/receivable ​ 13,510 ​ 14,684 Income tax refund receivable ​ 11,561 ​ 2,856 Federal Home Loan Bank stock ​ 16,566 ​ 19,362 Derivative instruments ​ ​ 8,943 ​ ​ 6,333 Tax credit investments ​ ​ 16,512 ​ ​ 17,642 Other assets ​ 5,905 ​ 3,426 Total ​ $ 83,432 ​ $ 75,712 ​

Deposits

Deposits	12 Months Ended
	Dec. 31, 2023
Deposits.
Deposits	NOTE 12 Deposits The components of deposits in the consolidated balance sheets at December 31, 2023 and 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Noninterest-bearing ​ $ 728,082 ​ $ 860,987 Interest-bearing ​ ​ Interest-bearing demand ​ 840,711 ​ 706,275 Savings accounts ​ 82,485 ​ 99,882 Money market savings ​ 1,032,771 ​ 1,035,981 Time deposits ​ 411,562 ​ 212,359 Total interest-bearing ​ 2,367,529 ​ 2,054,497 Total deposits ​ $ 3,095,611 ​ $ 2,915,484 ​ The aggregate amount of deposit overdrafts included as loans were $140 thousand and $202 thousand at December 31, 2023 and 2022, respectively. Certificates of deposit in excess of $250,000 totaled $121.8 million and $51.1 million at December 31, 2023 and 2022, respectively. At December 31, 2023, the scheduled maturities of certificates of deposit were as follows: ​ ​ ​ ​ ​ (dollars in thousands) Amount 2024 ​ $ 386,419 2025 ​ 11,536 2026 ​ 6,775 2027 ​ 1,856 2028 ​ 688 Thereafter ​ 4,288 Total ​ $ 411,562 ​

Short-Term Borrowings

Short-Term Borrowings	12 Months Ended
	Dec. 31, 2023
Short-Term Borrowings
Short-Term Borrowings	NOTE 13 Short-Term Borrowings Short-term borrowings at December 31, 2023, 2022, and 2021 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ ​ December 31, ​ (dollars in thousands) 2023 2022 2021 ​ Fed funds purchased ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of end of period ​ $ 114,170 ​ $ 153,080 ​ $ — ​ Average daily balance ​ ​ 287,768 ​ ​ 63,296 ​ ​ 3 ​ Maximum month-end balance ​ ​ 492,060 ​ ​ 251,880 ​ ​ — ​ Weighted-average rate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During period ​ ​ 5.31 % ​ 2.46 % ​ — % End of period ​ ​ 5.51 % ​ 4.26 % ​ — % FHLB short-term advances ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of end of period ​ $ 200,000 ​ $ 225,000 ​ $ — ​ Average daily balance ​ ​ 113,973 ​ ​ 89,932 ​ ​ — ​ Maximum month-end balance ​ ​ 200,000 ​ ​ 225,000 ​ ​ — ​ Weighted-average rate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During period ​ ​ 5.39 % ​ 3.10 % ​ — % End of period ​ ​ 5.50 % ​ 4.31 % ​ — % ​ The Company had outstanding credit capacity with the FHLB of $706.6 million and $531.6 million at December 31, 2023 and 2022, respectively, secured by pledged loans and investment securities. The Company also had $87.0 million of unsecured federal funds agreements with correspondent banks with no outstanding balances at December 31, 2023 and 2022. The Company has an unused $20.0 million unsecured line of credit with Bank of North Dakota.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2023
Long-Term Debt.
Long-Term Debt	NOTE 14 Long-Term Debt Long-term debt at December 31, 2023 and 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Period End ​ ​ ​ ​ ​ ​ Face ​ Carrying ​ ​ ​ Interest ​ Maturity ​ ​ (dollars in thousands) Value Value Interest Rate Rate Date Call Date Subordinated notes payable ​ $ 50,000 ​ $ 50,000 ​ Fixed ​ 3.50 % 3/30/2031 ​ 3/31/2026 Junior subordinated debenture (Trust I) ​ ​ 4,124 ​ ​ 3,583 Three-month CME SOFR + 0.26% + 3.10% ​ 8.72 % 6/26/2033 6/26/2008 Junior subordinated debenture (Trust II) ​ 6,186 ​ 5,373 Three-month CME SOFR + 0.26% + 1.80% ​ 7.45 % 9/15/2036 9/15/2011 Total long-term debt ​ $ 60,310 ​ $ 58,956 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Period End ​ ​ ​ ​ ​ ​ Face ​ Carrying ​ ​ ​ Interest ​ Maturity ​ ​ (dollars in thousands) Value Value Interest Rate Rate Date Call Date Subordinated notes payable ​ $ 50,000 ​ $ 50,000 Fixed 3.50 % 3/30/2031 3/31/2026 Junior subordinated debenture (Trust I) ​ 4,124 ​ 3,537 Three-month LIBOR + 3.10% ​ 7.82 % 6/26/2033 6/26/2008 Junior subordinated debenture (Trust II) ​ 6,186 ​ 5,306 Three-month LIBOR + 1.80% ​ 6.57 % 9/15/2036 9/15/2011 Total long-term debt ​ $ 60,310 ​ $ 58,843 ​

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies
Commitments and Contingencies	NOTE 15 Commitments and Contingencies In the normal course of business, the Company has outstanding commitment and contingent liabilities, such as commitments to extend credit and standby letters of credit, which are not included in the accompanying consolidated financial statements. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual or notional amount of those instruments. The Company uses the same credit policies in making such commitments as it does for instruments that are included in the statements of financial condition. A summary of the contractual amounts of the Company’s exposure to off-balance sheet risk as of December 31, 2023 and 2022, respectively, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Commitments to extend credit ​ $ 942,413 ​ $ 806,431 Standby letters of credit ​ 10,045 ​ 13,089 Total ​ $ 952,458 ​ $ 819,520 ​ The Company had an allowance for loan losses on unfunded commitments of $3.2 million as of December 31, 2022. Upon the adoption of the CECL accounting standard, the Company recorded an additional $1.9 million reserve for unfunded commitments. For the year ended December 31, 2023, the Company recorded an additional $2.3 million in provision for credit losses on unfunded commitments for a total of $7.4 million of allowance for credit losses on unfunded commitments as of December 31, 2023. Commitments to extend credit are agreements to lend to a client as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each client’s creditworthiness on a case by case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation. Collateral held varies but may include accounts receivable, inventory, property and equipment, and income producing commercial properties. The Company was not required to perform on any financial guarantees and did not incur any losses on its commitments during the past two years. The Company utilizes standby letters of credit issued by either the FHLB or the Bank of North Dakota to secure public unit deposits. The Company had no letters of credit outstanding with the FHLB as of December 31, 2023 or 2022. With the Bank of North Dakota, the Company had one letter of credit outstanding as of December 31, 2023 in the amount of $182.0 million. There were no letters of credit outstanding with the Bank of North Dakota as of December 31, 2022. Letters of credit with the Bank of North Dakota were collateralized by loans pledged to the Bank of North Dakota in the amount of $454.6 million and $215.5 million as of December 31, 2023 and 2022, respectively.

Legal Contingencies

Legal Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies
Legal Contingencies	NOTE 16 Legal Contingencies The Company may be subject to claims and lawsuits which may arise primarily in the ordinary course of business. It is the opinion of management that the disposition or ultimate resolution of these claims and lawsuits is currently not expected to have a material adverse effect on the financial position of the Company.

Share-Based Compensation Plan

Share-Based Compensation Plan	12 Months Ended
	Dec. 31, 2023
Share-Based Compensation Plan
Share-Based Compensation Plan	​ ​ NOTE 17 Share-Based Compensation Plan On May 6, 2019, the Company’s stockholders approved the Alerus Financial Corporation 2019 Equity Incentive Plan. This plan allows the compensation committee the ability to grant a wide variety of equity awards, including stock options, stock appreciation rights, restricted stock, restricted stock units, and cash incentive awards in such forms and amounts as it deems appropriate to accomplish the goals of the plan. Since inception, all awards issued under the plan have been restricted stock and restricted stock units. Any shares subject to an award that is cancelled, forfeited, or expires prior to exercise or realization, either in full or in part, shall again become available for issuance under the plan. However, shares subject to an award shall not again be made available for issuance or delivery under the plan if such shares are (a) tendered in payment of the exercise price of a stock option, (b) delivered to, or withheld by, the Company to satisfy any tax withholding obligation, or (c) covered by a stock-settled stock appreciation right or other awards that were not issued upon the settlement of the award. Restricted stock units issued do not participate in dividends and recipients are not entitled to vote these restricted stock units until shares of the Company’s common stock are delivered after vesting of the restricted stock units. Shares vest, become exercisable and contain such other terms and conditions as determined by the compensation committee and set forth in individual agreements with the participant receiving the award. Awards issued to Company directors are not subject to any service requirements and vest immediately. The plan authorizes the issuance of up to 1,100,000 shares of common stock. As of December 31, 2023, 779,307 shares of common stock are still available for issue under the plan. ​ The compensation expense relating to awards under these plans was $1.6 million in 2023, $1.9 million in 2022, and $3.1 million in 2021. The number of unvested shares outstanding was 120,497 and 128,267 as of December 31, 2023 and 2022, respectively. The number of unvested units outstanding was 111,160 and 110,219 as of December 31, 2023 and 2022, respectively. The following table presents the activity in the stock plans for the years ended December 31, 2023, and 2022 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ ​ ​ Weighted- ​ ​ ​ Weighted- ​ ​ ​ Average Grant ​ ​ ​ Average Grant ​ Awards Date Fair Value Awards Date Fair Value Restricted Stock and Restricted Stock Unit Awards ​ ​ ​ ​ ​ ​ ​ Outstanding at beginning of period 238,486 $ 23.65 ​ 260,850 $ 21.04 Granted 117,706 ​ 19.95 ​ 102,265 ​ 25.44 Vested (98,138) ​ 21.44 ​ (113,562) ​ 19.25 Forfeited or cancelled (26,397) ​ 21.33 ​ (11,067) ​ 23.90 Outstanding at end of period ​ 231,657 ​ $ 22.96 ​ 238,486 ​ $ 23.65 ​ As of December 31, 2023 and 2022, there was $2.7 million and $2.5 million, respectively, of unrecognized compensation expense related to non-vested awards granted under the plans. The expense is expected to be recognized over a weighted-average period of 2.3 and 2.7 years, as of December 31, 2023 and 2022, respectively.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2023
Employee Benefits
Employee Benefits	​ ​ NOTE 18 Employee Benefits The Company maintains two employee retirement plans including the Alerus Financial Corporation Employee Stock Ownership Plan, or ESOP, and a defined contribution salary reduction plan, or 401(k) plan. The plans cover substantially all employees upon satisfying prescribed eligibility requirements for age and length of service. Contributions to the ESOP are determined annually by the Board of Directors, at its discretion, and allocated to participants based on a percentage of annual compensation. For the years ended December 31, 2023, 2022 and 2021, there were no unallocated ESOP shares outstanding. Shares of the Company stock within the ESOP are considered outstanding and dividends on these shares are charged to retained earnings. Under the 401(k) plan, the Company contributes 100% of amounts deferred by employees up to 3% of eligible compensation and 50% of amounts deferred by employees between 3% and 6% of eligible compensation. Retirement plan contributions are reflected under employee benefits in the income statement and for years ending December 31, 2023, 2022, and 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 2021 Salary reduction plan ​ $ 2,933 ​ $ 3,148 ​ $ 3,123 ESOP ​ 1,604 ​ 1,932 ​ 2,014 Total ​ $ 4,537 ​ $ 5,080 ​ $ 5,137 Total ESOP shares outstanding ​ 1,152,017 ​ 1,111,424 ​ 1,207,952 ​

Noninterest Income

Noninterest Income	12 Months Ended
	Dec. 31, 2023
Noninterest Income
Noninterest Income	NOTE 19 Noninterest Income The following table presents the Company’s noninterest income for the years ended December 31, 2023, 2022, and 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2023 2022 2021 Retirement and benefits ​ $ 65,294 ​ $ 67,135 ​ $ 71,709 Wealth management ​ 21,855 ​ 20,870 ​ ​ 21,052 Mortgage banking (1) ​ 8,411 ​ 16,921 ​ ​ 48,502 Service charges on deposit accounts ​ 1,280 ​ 1,434 ​ ​ 1,395 Net gains (losses) on investment securities (1) ​ (24,643) ​ — ​ ​ 125 Other ​ ​ ​ ​ Interchange fees ​ 2,222 ​ 2,246 ​ ​ 2,180 Bank-owned life insurance income (1) ​ 877 ​ 836 ​ ​ 793 Misc. transactional fees ​ 1,433 ​ 1,429 ​ ​ 1,218 Other noninterest income ​ 3,500 ​ 352 ​ ​ 413 Total noninterest income ​ $ 80,229 ​ $ 111,223 ​ $ 147,387 (1) Not within the scope of ASC 606. Contract balances: ​ Contract acquisition costs practical expedient

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Taxes
Income Taxes	NOTE 20 Income Taxes The components of income tax expense (benefit) for the years ended December 31, 2023, 2022, and 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2023 2022 2021 Federal ​ ​ ​ Current ​ $ 851 ​ $ 9,005 ​ $ 10,731 Deferred ​ 1,151 ​ 727 ​ 2,212 Federal income tax ​ 2,002 ​ 9,732 ​ 12,943 State ​ ​ ​ Current ​ 2,415 ​ 2,298 ​ 2,879 Deferred ​ (259) ​ 147 ​ 574 State income tax ​ 2,156 ​ 2,445 ​ 3,453 Total income tax expense ​ $ 4,158 ​ $ 12,177 ​ $ 16,396 ​ The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2023 and 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Deferred Tax Assets ​ ​ Allowance for credit losses ​ $ 9,002 ​ $ 7,818 Employee compensation and benefit accruals ​ 2,253 ​ 2,455 Expense accruals ​ 327 ​ 417 Identifiable intangible amortization ​ 2,176 ​ 3,363 Deferred loan fees ​ 931 ​ 1,665 Net operating loss carry forwards ​ — ​ 3 Nonaccrual loan interest ​ 143 ​ 74 Unrealized loss on available‑for‑sale investment securities ​ 24,548 ​ 33,056 Unrealized loss on derivative and hedge instruments ​ ​ 135 ​ ​ — Unfunded commitment liability ​ ​ 1,913 ​ ​ 814 Operating lease liabilities ​ ​ 1,486 ​ ​ — Other ​ 129 ​ 70 Total deferred tax assets from temporary differences ​ 43,043 ​ 49,735 Deferred Tax Liabilities ​ ​ Accumulated depreciation ​ 737 ​ 835 Goodwill and intangible amortization ​ 3,840 ​ 5,115 Servicing assets ​ 530 ​ 663 Prepaid expenses ​ 1,188 ​ 552 Operating lease right-of-use assets ​ ​ 1,539 ​ ​ — Other ​ 614 ​ 201 Total deferred tax liabilities from temporary differences ​ 8,448 ​ 7,366 Net Deferred Tax Assets ​ $ 34,595 ​ $ 42,369 ​ The reconciliation between applicable income taxes and the amount computed at the applicable statutory Federal tax rate for years ending December 31, 2023, 2022, and 2021 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ ​ 2023 ​ ​ 2022 ​ 2021 ​ ​ ​ ​ Percent of ​ ​ Percent of ​ ​ Percent of (dollars in thousands) ​ Amount ​ Pretax Income ​ Amount ​ Pretax Income Amount ​ Pretax Income Taxes at statutory federal income tax rate ​ $ 3,329 21.0 % ​ $ 10,958 21.0 % $ 14,506 21.0 % Tax effect of: ​ ​ ​ ​ ​ ​ Tax exempt income ​ (715) (4.5) % ​ (514) (1.0) % (556) (0.8) % State income taxes, net of federal benefits ​ 715 4.5 % ​ 2,297 4.4 ​ 2,973 4.3 % Nondeductible items and other ​ ​ 829 ​ 5.2 % ​ ​ (564) ​ (1.1) ​ ​ (527) ​ (0.8) % Applicable income taxes ​ $ 4,158 26.2 % ​ $ 12,177 23.3 % $ 16,396 23.7 % ​ It is the opinion of management that the Company has no significant uncertain tax positions that would be subject to change upon examination.

Tax Credit Investments

Tax Credit Investments	12 Months Ended
	Dec. 31, 2023
Tax Credit Investments.
Tax Credit Investments	NOTE 21 Tax Credit Investments The Company invests in qualified affordable housing projects for the purpose of community reinvestment and obtaining tax credits. The Company’s tax credit investments are limited to existing lending relationships with well-known developers and projects within the Company’s market area. The following table presents a summary of the Company’s investments in qualified affordable housing projects tax credit investments for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 (dollars in thousands) ​ ​ Investment ​ Unfunded Commitment ​ Investment ​ Unfunded Commitment Investment ​ Accounting Method ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Low income housing tax credit Proportional amortization ​ $ 17,906 $ 12,347 $ 17,906 $ 15,559 Total ​ ​ $ 17,906 $ 12,347 $ 17,906 $ 15,559 ​ The following table presents a summary of the amortization expense and tax benefit recognized for the Company’s qualified affordable housing projects for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ Amortization ​ Tax Benefit ​ Amortization ​ Tax Benefit (dollars in thousands) ​ Expense (1) ​ Recognized (2) ​ Expense (1) ​ Recognized (2) Low income housing tax credit ​ $ 1,130 $ (1,418) $ 264 $ (373) Total ​ $ 1,130 ​ $ (1,418) ​ $ 264 ​ $ (373) (1) The amortization expense for low income housing tax credits were included in income tax expense. (2) All of the tax benefits recognized were included in income tax expense.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2023
Segment Reporting
Segment Reporting	​ ​ NOTE 22 Segment Reporting Operating segments are components of an enterprise, which are evaluated regularly by the “chief operating decision maker” in deciding how to allocate resources and assess performance. The Company’s chief operating decision maker is the President and Chief Executive Officer of the Company. Reportable segments are determined based on the services offered, the significance of the services offered, the significance of those services to the Company’s financial statements, and management’s regular review of the operating results of those services. The Company operates through four operating segments: Banking, Retirement and Benefit Services, Wealth Management, and Mortgage. The financial information presented for each segment includes net interest income, provision for credit losses, noninterest income, and direct and indirect noninterest expense. Corporate administration includes all remaining income and expenses not allocated to the four operating segments. The following table presents key metrics related to the Company’s segments as of and for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2023 ​ ​ ​ ​ ​ Retirement and ​ Wealth ​ ​ ​ ​ Corporate ​ ​ ​ (dollars in thousands) Banking Benefit Services Management Mortgage Administration Consolidated Net interest income (loss) ​ $ 89,693 ​ $ — ​ $ — ​ $ 827 ​ $ (2,681) ​ $ 87,839 Provision for credit losses ​ ​ 2,057 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,057 Noninterest income (loss) ​ ​ (15,428) ​ ​ 65,294 ​ ​ 21,855 ​ ​ 8,411 ​ ​ 97 ​ ​ 80,229 Noninterest expense ​ ​ 61,023 ​ 53,307 ​ 13,477 ​ 14,606 ​ ​ 7,744 ​ ​ 150,157 Net income (loss) before taxes ​ $ 11,185 ​ $ 11,987 ​ $ 8,378 ​ $ (5,368) ​ $ (10,328) ​ $ 15,854 Total assets $ 3,821,989 ​ $ 34,352 ​ $ 4,757 ​ $ 11,736 ​ $ 34,879 ​ $ 3,907,713 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ ​ ​ ​ ​ Retirement and ​ Wealth ​ ​ ​ ​ Corporate ​ ​ ​ (dollars in thousands) Banking Benefit Services Management Mortgage Administration Consolidated Net interest income (loss) ​ $ 100,190 ​ $ — ​ $ — ​ $ 1,879 ​ $ (2,340) ​ $ 99,729 Provision for credit losses ​ — ​ ​ — ​ ​ — ​ ​ — ​ — ​ — Noninterest income ​ 6,199 ​ ​ 67,135 ​ ​ 20,870 ​ ​ 16,921 ​ 98 ​ 111,223 Noninterest expense ​ 62,789 ​ 55,178 ​ 11,876 ​ 21,272 ​ 7,655 ​ 158,770 Net income (loss) before taxes ​ $ 43,600 ​ $ 11,957 ​ $ 8,994 ​ $ (2,472) ​ $ (9,897) ​ $ 52,182 Total assets $ 3,697,608 ​ $ 40,821 ​ $ 4,032 ​ $ 10,620 ​ $ 26,556 ​ $ 3,779,637 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ ​ ​ ​ ​ Retirement and ​ Wealth ​ ​ ​ ​ Corporate ​ ​ ​ (dollars in thousands) Banking Benefit Services Management Mortgage Administration Consolidated Net interest income ​ $ 87,014 ​ $ — ​ $ — ​ $ 1,981 ​ $ (1,896) ​ $ 87,099 Provision for loan losses ​ (3,500) ​ — ​ — ​ — ​ — ​ (3,500) Noninterest income ​ 6,091 ​ 71,709 ​ 21,052 ​ 48,502 ​ 33 ​ 147,387 Noninterest expense ​ 53,121 ​ 55,802 ​ 11,571 ​ 39,518 ​ 8,897 ​ 168,909 Net income before taxes ​ $ 43,484 ​ $ 15,907 ​ $ 9,481 ​ $ 10,965 ​ $ (10,760) ​ $ 69,077 Total assets $ 3,254,979 ​ $ 44,953 ​ $ 3,644 ​ $ 75,713 ​ $ 13,402 ​ $ 3,392,691 ​ Banking The Banking division offers a complete line of loan, deposit, cash management, and treasury services through fifteen offices in North Dakota, Minnesota, and Arizona. These products and services are supported through web and mobile based applications. The majority of the Company’s assets and liabilities are in the Banking segments’ balance sheet. ​ Retirement and Benefit Services Retirement and Benefit Services provides the following services nationally: recordkeeping and administration services to qualified retirement plans; recordkeeping, and administration services to other types of retirement plans; investment fiduciary services to retirement plans; health savings accounts, flex spending accounts, and COBRA recordkeeping and administration services. The division operates within each of the banking markets, as well as in East Lansing, Michigan and Lakewood, Colorado. Wealth Management The Wealth Management division provides advisory and planning services, investment management, and trust and fiduciary services to clients across the Company’s footprint. Mortgage The Mortgage division offers first and second mortgage loans through a centralized mortgage unit in Minneapolis, Minnesota, as well as through the banking office locations.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share
Earnings Per Share	NOTE 23 Earnings Per Share The calculation of basic and diluted earnings per share using the two-class method for the years ending December 31, 2023, 2022, and 2021 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars and shares in thousands, except per share data) 2023 2022 ​ 2021 Net income ​ $ 11,696 ​ $ 40,005 ​ $ 52,681 Dividends and undistributed earnings allocated to participating securities ​ ​ (5) ​ ​ 416 ​ ​ 802 Net income available to common stockholders ​ $ 11,701 ​ $ 39,589 ​ $ 51,879 Weighted-average common shares outstanding for basic earnings per share ​ ​ 19,922 ​ 18,640 ​ 17,189 Dilutive effect of stock-based awards ​ 221 ​ 244 ​ 297 Weighted-average common shares outstanding for diluted earnings per share ​ ​ 20,143 ​ ​ 18,884 ​ ​ 17,486 Earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share ​ $ 0.59 ​ $ 2.12 ​ $ 3.02 Diluted earnings per common share ​ $ 0.58 ​ $ 2.10 ​ $ 2.97 ​

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions
Related Party Transactions	NOTE 24 Related Party Transactions In the ordinary course of business, the Bank has extended loans to executive officers, directors, and their affiliates (related parties). These loans are made on substantially the same terms and conditions as those prevailing at the time for comparable transactions with outsiders and are not considered to involve more than the normal risk of collectability. The following table presents the activity associated with loans made between related parties at December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (dollars in thousands) 2023 2022 Beginning balance ​ $ 130 ​ $ 34 New loans and advances ​ ​ 1,313 ​ ​ 145 Repayments ​ ​ (665) ​ ​ (95) Changes to related parties (1) ​ ​ 257 ​ ​ 46 Ending balance ​ $ 1,035 ​ $ 130 (1) Represents changes related to directors that were added to the Board during the year. ​ Deposits from related parties held by the Bank at December 31, 2023 and 2022, amounted to $710 thousand and $587 thousand, respectively.

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2023
Derivative Instruments
Derivative Instruments	NOTE 25 Derivative Instruments The Company uses a variety of derivative instruments to mitigate exposure to both market and credit risks inherent in its business activities. The Company manages these risks as part of its overall asset and liability management process and through its policies and procedures. Derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract. Derivatives are often measured in terms of notional amount, but this amount is generally not exchanged, and it is not recorded on the Company’s consolidated balance sheet. The notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract. The underlying is a referenced interest rate, security price, credit spread, or other index. Residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments. Derivatives Designated as Hedging Instruments The Company uses derivative instruments to hedge its exposure to economic risks, including interest rate, liquidity and credit risk. Certain hedging relationships are formally designated and qualify for hedge accounting under GAAP. On the date the Company enters into a derivative contract designated as a hedging instrument, the derivative is designated as either a fair value hedge, cash flow hedge, or a net investment hedge. When a derivative is designated as a fair value, cash flow, or net investment hedge, the Company performs an assessment, at inception and, at a minimum, quarterly thereafter, to determine the effectiveness of the derivative in offsetting changes in the value or cash flows of the hedged item(s). As of December 31, 2023, the Company only uses fair value and cash flow hedges. Fair value hedges: Cash flow hedges: ​ Derivatives Not Designated as Hedging Instruments Interest rate swaps: Interest rate lock commitments, forward loan sales commitments and to be announced (TBA) mortgage backed securities: The following table presents the total notional amounts and gross fair values of the Company’s derivatives as of December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 ​ ​ ​ ​ Fair ​ Notional ​ Fair ​ Notional (dollars in thousands) ​ Value Amount Value Amount Designated as hedging instruments: ​ Consolidated Balance Sheet Location ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ Accrued expenses and other liabilities ​ $ 352 ​ $ 600,000 ​ $ — ​ $ — Cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ Accrued expenses and other liabilities ​ ​ 297 ​ ​ 200,000 ​ ​ — ​ ​ — Total derivatives designated as hedging instruments ​ ​ ​ $ 649 ​ $ 800,000 ​ $ — ​ $ — Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset Derivatives ​ ​ ​ ​ ​ Interest rate swaps (1) Other assets ​ $ 8,327 ​ $ 120,671 ​ $ 6,277 ​ $ 43,430 Interest rate lock commitments Other assets ​ ​ 179 ​ ​ 8,126 ​ ​ 121 ​ ​ 10,462 Forward loan sales commitments Other assets ​ 6 ​ 190 ​ 7 ​ 351 Total asset derivatives not designated as hedging instruments ​ $ 8,512 ​ $ 128,987 ​ $ 6,405 ​ $ 54,243 Liability Derivatives ​ ​ ​ ​ Interest rate swaps (1) Accrued expenses and other liabilities ​ $ 8,348 ​ $ 120,671 ​ $ 6,277 ​ $ 43,430 To-be-announced mortgage backed securities Accrued expenses and other liabilities ​ ​ 183 ​ ​ 20,500 ​ ​ 26 ​ ​ 25,750 Total liability derivatives not designated as hedging instruments ​ $ 8,531 ​ $ 141,171 ​ $ 6,303 ​ $ 69,180 (1) Reported fair values include accrued interest receivable and payable . ​ The following table shows the effective portion of the gains (losses) recognized in other comprehensive income (loss) and the gains (losses), before tax, reclassified from OCI into earnings for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains (Losses) ​ ​ Gains (Losses) ​ Reclassified ​ ​ Recognized in ​ from OCI (dollars in thousands) ​ OCI ​ into Earnings Derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ For the year ended December 31, 2023 ​ ​ ​ ​ ​ ​ Cash flow hedges: ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 176 ​ $ 473 ​ ​ The following table shows the effect of fair value and cash flow hedge accounting on derivatives designated as hedging instruments in the Consolidated Statements of Income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Location and Amount of Gains (Losses) Recognized in Income ​ ​ Interest Income ​ Interest Expense ​ ​ Loans, ​ Investment ​ ​ ​ ​ including ​ securities - ​ Short-term (dollars in thousands) fees Taxable borrowings For the year ended December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total amounts in the Consolidated Statements of Income ​ $ 136,918 ​ $ 24,262 ​ $ 20,976 Fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ ​ 252 ​ ​ 1,881 ​ ​ — Cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ ​ — ​ ​ — ​ ​ (473) ​ The following table shows the notional amount, carrying amount and associated cumulative basis adjustments related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Fair ​ ​ ​ ​ ​ ​ ​ ​ Value Hedging ​ ​ ​ ​ ​ ​ ​ ​ Adjustment in the ​ ​ ​ ​ Carrying Amount ​ Carrying Amount of ​ ​ Notional ​ of Hedged Assets/ ​ Hedged Assets/ (dollars in thousands) ​ Amount ​ Liabilities ​ Liabilities Mortgage-backed securities ​ ​ ​ ​ ​ ​ ​ Residential agency (1) ​ $ 200,000 ​ $ 200,241 ​ $ 241 Mortgage loan pools (2) ​ ​ 400,000 ​ ​ 400,098 ​ ​ 98 Total ​ $ 600,000 ​ $ 600,339 ​ $ 339 (1) Includes amounts related to residential agency mortgage-backed securities currently designated as the hedged item in a fair value hedge using the portfolio layer method. At December 31, 2023, the amortized cost of the closed portfolios used in these hedging relationships was $323.4 million. (2) These amounts include the amortized cost basis of residential real estate loans that were used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolio anticipated to be outstanding for the designated hedged period. At December 31, 2023, the amortized cost basis of the residential real estate loans used in these hedging relationships was $687.5 million. ​ The gain (loss) recognized on derivatives not designated as hedging relationships for years ended December 31, 2023, 2022, and 2021 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) ​ ​ ​ Year ended December 31, Derivatives not designated as hedging instruments Consolidated Statements of Income Location 2023 2022 2021 Interest rate swaps Other noninterest income ​ $ (20) ​ $ 2 ​ $ 1 Interest rate lock commitments Mortgage banking ​ ​ 165 ​ ​ (1,464) ​ ​ (8,660) Forward loan sales commitments Mortgage banking ​ ​ (1) ​ ​ (483) ​ ​ (2,174) To-be-announced mortgage backed securities Mortgage banking ​ 118 ​ 4,916 ​ ​ 5,220 Total gain (loss) from derivatives not designated as hedging instruments ​ ​ $ 262 ​ $ 2,971 ​ $ (5,613) ​ ​ The Company has third-party agreements that require a minimum dollar transfer amount upon a margin call. This requirement is dependent on certain specified credit measures. The amount of collateral posted with third parties at December 31, 2023 and 2022, respectively, was $550 thousand and $309 thousand. The amount of collateral posted with third parties is deemed to be sufficient to collateralize both the fair market value change a well as any additional amounts that may be required as a result of a change in the specified credit measures. Credit Risk-Related Contingent Features By using derivatives, the Company is exposed to credit risk to the extent that counterparties to the derivative contracts do not perform as required. Should a counterparty fail to perform under the terms of a derivative contract, the Company’s credit exposure on interest rate swaps is limited to the net positive fair value and accrued interest of all swaps with each counterparty. The Company seeks to minimize counterparty credit risk through credit approvals, limits, monitoring procedures, and obtaining collateral, where appropriate. As such, management believes the risk of incurring credit losses on derivative contracts with institutional counterparties is remote. The Company has agreements with its derivative counterparties that contain a provision where, if the Company defaults on any of its indebtedness, including defaults where repayment of the indebtedness has not been accelerated by the lender, the Company could also be declared in default on its derivative obligations. In addition, the Company also has agreements with certain of its derivative counterparties that contain a provision where, if the Company fails to maintain its status as a well-capitalized institution, the counterparty could terminate the derivative position(s) and the Company could be required to settle its obligations under the agreements. As of December 31, 2023 and 2022, the fair value of derivatives in a net liability position, which included accrued interest but excludes any adjustment for non-performance risk, related to these agreements was $649 thousand and $0, respectively. As of December 31, 2023 and 2022, the Company had minimum collateral posting thresholds with certain of its derivative counterparties and has posted cash collateral of $550 thousand and $309, respectively. If the Company had breached any of these provisions at December 31, 2023 or 2022, it could have been required to settle its obligations under the agreements at their termination value of $649 thousand and $0, respectively. ​ Balance Sheet Offsetting The following table presents the Company’s derivative positions and the potential effect of netting arrangements on its financial position as of the dates indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Offset in the ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Sheets ​ ​ ​ ​ ​ Gross Amount ​ Gross Amount ​ Net Amount ​ ​ ​ ​ ​ ​ ​ Recognized in the ​ Offset in the ​ Presented in the ​ ​ ​ ​ ​ ​ ​ Consolidated ​ Consolidated ​ Consolidated ​ Cash Collateral ​ ​ ​ (dollars in thousands) ​ Balance Sheets ​ Balance Sheets ​ Balance Sheets ​ Pledged (Received) ​ Net Amount December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps - Company (1) ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Interest rate swaps - dealer bank (1) ​ ​ 8,327 ​ ​ — ​ ​ 8,327 ​ ​ (1,740) ​ ​ 6,587 To-be-announced mortgage backed securities ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ $ 8,327 ​ $ — ​ $ 8,327 ​ $ (1,740) ​ $ 6,587 Derivative liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps - Company (1) ​ $ 649 ​ $ — ​ $ 649 ​ $ 550 ​ $ 99 Interest rate swaps - customer (2) ​ ​ 8,348 ​ ​ — ​ ​ 8,348 ​ ​ — ​ ​ 8,348 To-be-announced mortgage backed securities ​ ​ 183 ​ ​ — ​ ​ 183 ​ ​ — ​ ​ 183 Total ​ $ 9,180 ​ $ — ​ $ 9,180 ​ $ 550 ​ $ 8,630 December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps - Company (1) ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Interest rate swaps - dealer bank (1) ​ ​ 6,277 ​ ​ — ​ ​ 6,277 ​ ​ (6,030) ​ ​ 247 To-be-announced mortgage backed securities ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ $ 6,277 ​ $ — ​ $ 6,277 ​ $ (6,030) ​ $ 247 Derivative liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps - customer (2) ​ $ 6,277 ​ $ — ​ $ 6,277 ​ $ 309 ​ $ 5,968 To-be-announced mortgage backed securities ​ ​ 26 ​ ​ — ​ ​ 26 ​ ​ — ​ ​ 26 Total ​ $ 6,303 ​ $ — ​ $ 6,303 ​ $ 309 ​ $ 5,994 (1) The Company maintains a master netting agreement with each counterparty and settles collateral on a net basis for all interest rate swaps with counterparty banks. (2) The Company manages its net exposure on its customer loan swaps by obtaining collateral as part of the normal loan policy and underwriting practices. The Company does not post collateral to its customers as part of its contract. ​

Regulatory Matters

Regulatory Matters	12 Months Ended
	Dec. 31, 2023
Regulatory Matters
Regulatory Matters	NOTE 26 Regulatory Matters The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s consolidated financial statements. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the following table) of common equity tier 1, tier 1, and total capital (as defined in the regulations) to risk weighted assets (as defined) and of tier 1 capital (as defined) to average assets (as defined). Management believes at December 31, 2023 and 2022, each of the Company and the Bank met all of the capital adequacy requirements to which it is subject. As of December 31, 2023, the most recent notification from the Federal Deposit Insurance Corporation, categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since the notification that management believe have changed in the Bank’s category. Actual capital amounts and ratios for the Company (consolidated) and the Bank at December 31, 2023 and 2022 are presented in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum to be ​ ​ ​ ​ ​ ​ ​ ​ Minimum Required ​ Well Capitalized ​ ​ ​ ​ ​ ​ ​ for Capital ​ Under Prompt ​ ​ Actual ​ Adequacy Purposes ​ Corrective Action (1) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk weighted assets ​ ​ ​ ​ Consolidated (1) ​ $ 382,578 11.82 % $ 145,605 4.50 % $ N/A N/A ​ Bank ​ 367,445 11.40 % 145,101 4.50 % 209,590 6.50 % Tier 1 capital to risk weighted assets ​ ​ . ​ Consolidated (1) ​ 391,534 12.10 % 194,139 6.00 % N/A N/A ​ Bank ​ 367,445 11.40 % 193,468 6.00 % 257,957 8.00 % Total capital to risk weighted assets ​ ​ ​ Consolidated (1) ​ 477,590 14.76 % 258,853 8.00 % N/A N/A ​ Bank ​ 403,501 12.51 % 257,957 8.00 % 322,446 10.00 % Tier 1 capital to average assets ​ ​ ​ Consolidated (1) ​ 391,534 10.57 % 148,111 4.00 % N/A N/A ​ Bank ​ 367,445 9.92 % 148,186 4.00 % 185,232 5.00 % (1) “Minimum to be Well Capitalized Under Prompt Corrective Action” is not formally defined under applicable banking regulations for bank holding companies. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum to be ​ ​ ​ ​ ​ ​ ​ ​ Minimum Required ​ Well Capitalized ​ ​ ​ ​ ​ ​ ​ for Capital ​ Under Prompt ​ ​ Actual ​ Adequacy Purposes ​ Corrective Action (1) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk weighted assets ​ ​ ​ ​ Consolidated (1) ​ $ 389,335 13.39 % $ 130,862 4.50 % $ N/A N/A ​ Bank ​ 370,749 12.76 % 130,791 4.50 % 188,920 6.50 % Tier 1 capital to risk weighted assets ​ ​ . ​ Consolidated (1) ​ 398,179 13.69 % 174,482 6.00 % N/A N/A ​ Bank ​ 370,749 12.76 % 174,388 6.00 % 232,517 8.00 % Total capital to risk weighted assets ​ ​ ​ Consolidated (1) ​ 479,325 16.48 % 232,643 8.00 % N/A N/A ​ Bank ​ 401,895 13.83 % 232,517 8.00 % 290,646 10.00 % Tier 1 capital to average assets ​ ​ ​ Consolidated (1) ​ 398,179 11.25 % 141,514 4.00 % N/A N/A ​ Bank ​ 370,749 10.48 % 141,440 4.00 % 176,800 5.00 % (1) “Minimum to be Well Capitalized Under Prompt Corrective Action” is not formally defined under applicable banking regulations for bank holding companies. ​ ​ The Bank is subject to certain restrictions on the amount of dividends that it may pay without prior regulatory approval. The Bank normally restricts dividends to a lesser amount. In addition, the Company must adhere to various U.S. Department of Housing and Urban Development, or HUD, regulatory guidelines including required minimum capital and liquidity to maintain their Federal Housing Administration approval status. Failure to comply with the HUD guidelines could result in withdrawal of this certification. As of December 31, 2023 and 2022, the Company was in compliance with HUD guidelines.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2023
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss)	NOTE 27 Other Comprehensive Income (Loss) The following tables present a reconciliation of the changes in the components of other comprehensive income and loss for the periods indicated, including the amount of tax (expense) benefit allocated to each component: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2023 2022 2021 ​ ​ ​ ​ Tax ​ ​ ​ ​ ​ Tax ​ ​ ​ ​ ​ Tax ​ ​ ​ ​ Pre-Tax ​ (Expense) ​ After-Tax ​ Pre-Tax ​ (Expense) ​ After-Tax ​ Pre-Tax ​ (Expense) ​ After-Tax (dollars in thousands) ​ Amount ​ Benefit ​ Amount ​ Amount ​ Benefit ​ Amount ​ Amount ​ Benefit ​ Amount Debt Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in fair value ​ $ 58,868 ​ $ (14,775) ​ $ 44,093 ​ $ (125,634) ​ $ 31,534 ​ $ (94,100) ​ $ (19,433) ​ $ 4,878 ​ $ (14,555) Less: reclassification adjustment from amortization of securities transferred from AFS to HTM (1) ​ ​ (328) ​ ​ 82 ​ ​ (246) ​ ​ (382) ​ ​ 96 ​ ​ (286) ​ ​ (326) ​ ​ 82 ​ ​ (244) Less: reclassification adjustment for net realized losses (2) ​ ​ (24,643) ​ ​ 6,185 ​ ​ (18,458) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Net change ​ ​ 33,897 ​ ​ (8,508) ​ ​ 25,389 ​ ​ (126,016) ​ ​ 31,630 ​ ​ (94,386) ​ ​ (19,759) ​ ​ 4,960 ​ ​ (14,799) Cash Flow Hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in fair value ​ ​ 176 ​ ​ (59) ​ ​ 117 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Less: reclassified AOCI gain (loss) into interest expense (3) ​ ​ (473) ​ ​ 119 ​ ​ (354) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Net change ​ ​ (297) ​ ​ 60 ​ ​ (237) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Other Derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in fair value ​ ​ (241) ​ ​ 75 ​ ​ (166) ​ ​ — ​ ​ — ​ ​ — ​ ​ (125) ​ ​ 31 ​ ​ (94) Less: reclassified AOCI gain (loss) into interest expense (4) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Net change ​ ​ (241) ​ ​ 75 ​ ​ (166) ​ ​ — ​ ​ — ​ ​ — ​ ​ (125) ​ ​ 31 ​ ​ (94) Other comprehensive income (loss) ​ $ 33,359 ​ $ (8,373) ​ $ 24,986 ​ $ (126,016) ​ $ 31,630 ​ $ (94,386) ​ $ (19,884) ​ $ 4,991 ​ $ (14,893) (1) Reclassified into taxable and/or exempt from federal income taxes interest income on investment securities on the consolidated statements of income. Refer to Note 5 (Investment Securities) for further details. (2) Reclassified into net gains (losses) on investment securities in the consolidated statements of income. Refer to Note 5 (Investment Securities) for further details. (3) Reclassified into interest expense on short-term borrowings on the consolidated statements of income. Refer to Note 25 (Derivative Instruments) for further details. (4) Reclassified into interest income on loans, including fees and/or interest income on taxable investment securities on the consolidated statements of income. Refer to Note 25 (Derivative Instruments) for further details. ​ ​ The following table presents the changes in each component of AOCI for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Unrealized ​ Net Unrealized ​ ​ ​ ​ Net Unrealized ​ Gains (Losses) on ​ Gains (Losses) ​ ​ ​ ​ ​ Gains (Losses) on ​ Cash Flow ​ on Other ​ ​ (dollars in thousands) Debt Securities (1) Hedges (1) Derivatives (1) AOCI (1) Balance at December 31, 2020 ​ $ 10,638 ​ $ — ​ $ — ​ $ 10,638 Other comprehensive income (loss) before reclassifications ​ ​ (14,555) ​ ​ — ​ ​ — ​ ​ (14,555) Less: Amounts reclassified from AOCI ​ ​ (244) ​ ​ — ​ ​ (94) ​ ​ (338) Other comprehensive income (loss) ​ ​ (14,799) ​ ​ — ​ ​ (94) ​ ​ (14,893) Balance at December 31, 2021 ​ ​ (4,161) ​ ​ — ​ ​ (94) ​ ​ (4,255) Other comprehensive income (loss) before reclassifications ​ ​ (94,100) ​ ​ — ​ ​ — ​ ​ (94,100) Less: Amounts reclassified from AOCI ​ ​ (286) ​ ​ — ​ ​ — ​ ​ (286) Other comprehensive income (loss) ​ ​ (94,386) ​ ​ — ​ ​ — ​ ​ (94,386) Balance at December 31, 2022 ​ ​ (98,547) ​ ​ — ​ ​ (94) ​ ​ (98,641) Other comprehensive income (loss) before reclassifications ​ ​ 44,093 ​ ​ 117 ​ ​ (166) ​ ​ 44,044 Less: Amounts reclassified from AOCI ​ ​ (18,704) ​ ​ (354) ​ ​ — ​ ​ (19,058) Other comprehensive income (loss) ​ ​ 25,389 ​ ​ (237) ​ ​ (166) ​ ​ 24,986 Balance at December 31, 2023 ​ $ (73,158) ​ $ (237) ​ $ (260) ​ $ (73,655) (1) All amounts net of tax.

Stock Repurchase Program

Stock Repurchase Program	12 Months Ended
	Dec. 31, 2023
Stock Repurchase Program
Stock Repurchase Program	NOTE 28 Stock Repurchase Program On February 18, 2021, the Board of Directors of the Company approved a stock repurchase program, or the Old Stock Repurchase Program, which authorized the Company to repurchase up to 770,000 shares of its common stock subject to certain limitations and conditions. The Old Stock Repurchase Program was terminated on/expired on February 18, 2024. On December 12, 2023, the Board of Directors of the Company approved a new stock repurchase program, or the New Stock Repurchase Program, which authorizes the Company to repurchase up to 1,000,000 shares of its common stock subject to certain limitations and conditions. The New Stock Repurchase Program became effective February 18, 2024, and will expire on February 18, 2027. On February 18, 2024, the New Stock Repurchase Program replaced and superseded the Old Stock Repurchase Program. The New Stock Repurchase Program does not obligate the Company to repurchase any shares of its common stock and there is no assurance that the Company will do so. For the year ended December 31, 2023, the Company repurchased 356,474 shares, from time-to-time, under the Old Stock Repurchase Program. For the year ended December 31, 2022, the Company did not repurchase any shares under the Old Stock Repurchase Program. The Company also repurchases shares to pay withholding taxes on the vesting of restricted stock awards and units.

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	12 Months Ended
	Dec. 31, 2023
Fair Value of Assets and Liabilities
Fair Value of Assets and Liabilities	NOTE 29 Fair Value of Assets and Liabilities The Company categorizes its assets and liabilities measured at estimated fair value into a three level hierarchy based on the priority of the inputs to the valuation technique used to determine estimated fair value. The estimated fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used in the determination of the estimated fair value measurement fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the estimated fair value measurement. Assets and liabilities valued at estimated fair value are categorized based on the following inputs to the valuation techniques as follows: Level 1 ​ Level 2 Level 3 Professional standards allow entities the irrevocable option to elect to measure certain financial instruments and other items at estimated fair value for the initial and subsequent measurement on an instrument-by-instrument basis. The Company adopted the policy to value certain financial instruments at estimated fair value. The Company has not elected to measure any existing financial instruments at estimated fair value; however, it may elect to measure newly acquired financial instruments at estimated fair value in the future. Recurring Basis The Company uses estimated fair value measurements to record estimated fair value adjustments to certain assets and liabilities and to determine estimated fair value disclosures. For additional information on how the Company measures estimated fair value refer to Note 1 (Significant Accounting Policies). The following tables present the balances of the assets and liabilities measured at estimated fair value on a recurring basis at December 31, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 (dollars in thousands) Level 1 Level 2 Level 3 Total Available-for-sale ​ ​ ​ ​ U.S. treasury and government agencies ​ $ — ​ $ 1,120 ​ $ — ​ $ 1,120 Mortgage backed securities ​ ​ ​ ​ Residential agency ​ — ​ 435,594 ​ — ​ 435,594 Commercial ​ — ​ 1,353 ​ — ​ 1,353 Asset backed securities ​ — ​ 25 ​ — ​ 25 Corporate bonds ​ — ​ 48,644 ​ — ​ 48,644 Total available-for-sale investment securities ​ $ — ​ $ 486,736 ​ $ — ​ $ 486,736 Other assets ​ ​ ​ ​ Derivatives ​ $ — ​ $ 8,512 ​ $ — ​ $ 8,512 Other liabilities ​ ​ ​ ​ Derivatives ​ $ — ​ $ 9,180 ​ $ — ​ $ 9,180 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 (dollars in thousands) Level 1 Level 2 Level 3 Total Available-for-sale ​ ​ ​ ​ U.S. treasury and government agencies ​ $ — ​ $ 3,520 ​ $ — ​ $ 3,520 Mortgage backed securities ​ ​ ​ ​ Residential agency ​ — ​ 587,679 ​ — ​ 587,679 Commercial ​ — ​ 63,558 ​ — ​ 63,558 Asset backed securities ​ — ​ 34 ​ — ​ 34 Corporate bonds ​ — ​ 62,533 ​ — ​ 62,533 Total available-for-sale investment securities ​ $ — ​ $ 717,324 ​ $ — ​ $ 717,324 Other assets ​ ​ ​ ​ Derivatives ​ $ — ​ $ 6,405 ​ $ — ​ $ 6,405 Other liabilities ​ ​ ​ ​ Derivatives ​ $ — ​ $ 6,303 ​ $ — ​ $ 6,303 ​ The following is a description of the valuation methodologies used for instruments measured at estimated fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy. Investment Securities, Available-for-sale Generally, debt securities are valued using pricing for similar securities, recently executed transactions, and other pricing models utilizing observable inputs and therefore are classified as Level 2. Derivatives All of the Company’s derivatives are traded in over the counter markets where quoted market prices are not readily available. For these derivatives, estimated fair value is measured using internally developed models that use primarily market observable inputs, such as yield curves and option volatilities, and accordingly, classify as Level 2. Examples of Level 2 derivatives are basic interest rate swaps and forward contracts. Nonrecurring Basis Certain assets are measured at estimated fair value on a nonrecurring basis. These assets are not measured at estimated fair value on an ongoing basis; however, they are subject to estimated fair value adjustments in certain circumstances, such as when there is evidence of impairment or a change in the amount of previously recognized impairment. The estimated fair value of certain assets on a nonrecurring basis for the years ended December 31, 2023 and 2022 consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 (dollars in thousands) Level 1 Level 2 Level 3 Total Collateral dependent loans ​ $ — ​ $ — ​ $ 3,998 ​ $ 3,998 Foreclosed assets ​ — ​ — ​ 32 ​ 32 Servicing rights ​ — ​ — ​ 2,052 ​ 2,052 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 (dollars in thousands) Level 1 Level 2 Level 3 Total Collateral dependent loans ​ $ — ​ $ — ​ $ 2,813 ​ $ 2,813 Foreclosed assets ​ — ​ — ​ 30 ​ 30 Servicing rights ​ — ​ — ​ 2,643 ​ 2,643 ​ Loans Held for Sale Loans originated and held for sale are carried at the lower of cost or estimated fair value. The Company obtains quotes or bids on these loans directly from purchasing financial institutions. Typically, these quotes include a premium on the sale and thus these quotes indicate estimated fair value of the held for sale loans is greater than cost. Impairment losses for loans held for sale that are carried at the lower of cost or estimated fair value represent additional net write-downs during the period to record these loans at the lower of cost or estimated fair value subsequent to their initial classification as loans held for sale. ​ The valuation techniques and significant unobservable inputs used to measure Level 3 estimated fair value as of December 31, 2023 and 2022, respectively, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ (dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Asset Type Valuation Technique Unobservable Input Fair Value Range Average Individually evaluated Appraisal value Property specific adjustment $ 3,998 10.0 % 10.0 % Foreclosed assets Appraisal value Property specific adjustment (1) 32 N/A N/A Servicing rights Discounted cash flows Prepayment speed assumptions 2,052 85-151 104 ​ Discount rate 11.1 % 11.1 % (1) There were no discounts taken on the collateral that comprises the balance of foreclosed assets as of December 31, 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ (dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Asset Type Valuation Technique Unobservable Input Fair Value Range Average Individually evaluated Appraisal value Property specific adjustment $ 2,813 10.0 % 10.0 % Foreclosed assets Appraisal value Property specific adjustment (1) 30 N/A N/A ​ Servicing rights Discounted cash flows Prepayment speed assumptions 2,643 103-137 115 ​ ​ Discount rate 10.5 % 10.5 % (1) There were no discounts taken on the collateral that comprises the balance of foreclosed assets as of December 31, 2022. ​ Disclosure of estimated 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 in which quoted market prices are not available, estimated 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 estimate of future cash flows. In that regard, the derived estimated 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, with an estimated fair value that is not practicable to estimate and all non-financial instruments, are excluded from the disclosure requirements. Accordingly, the aggregate estimated fair value amounts presented do not necessarily represent the underlying value of the Company. ​ The following disclosures represent financial instruments in which the ending balances, as of December 31, 2023 and 2022, were not carried at estimated fair value in their entirety on the consolidated balance sheets. Cash and Due from Banks and Accrued Interest The carrying amounts reported in the consolidated balance sheets approximate those assets and liabilities estimated fair values. Investment Securities, Held-to-Maturity The fair values of debt securities held-to-maturity are based on quoted market prices for the same or similar securities, recently executed transactions and pricing models. Loans For variable-rate loans that reprice frequently and with no significant change in credit risk, estimated fair values are based on carrying values. The estimated fair values of other loans are estimated using discounted cash flow analysis, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Bank-Owned Life Insurance Bank-owned life insurance is carried at the amount due upon surrender of the policy, which is also the estimated fair value. This amount was provided by the insurance companies based on the terms of the underlying insurance contract. Deposits The estimated fair values of demand deposits are, by definition, equal to the amount payable on demand at the consolidated balance sheet date. The estimated fair values of fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies current incremental interest rates being offered on certificates of deposit to a schedule of aggregated expected monthly maturities of the outstanding certificates of deposit. Short-Term Borrowings and Long-Term Debt For variable-rate borrowings that reprice frequently, estimated fair values are based on carrying values. The estimated fair values of fixed-rate borrowings are estimated using discounted cash flow analysis, based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. Off-Balance Sheet Credit-Related Commitments Off-balance sheet credit related commitments are generally of short-term nature. The contract amount of such commitments approximates their estimated fair value since the commitments are comprised primarily of unfunded loan commitments which are generally priced at market at the time of funding. The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments at the dates indicated are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ Carrying ​ Estimated Fair Value (dollars in thousands) Amount Level 1 Level 2 Level 3 Total Financial Assets ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 129,893 ​ $ 129,893 ​ $ — ​ $ — ​ $ 129,893 Investment securities held-to-maturity ​ ​ 299,515 ​ ​ — ​ ​ 258,617 ​ ​ — ​ ​ 258,617 Loans, net ​ 2,723,740 ​ — ​ — ​ 2,590,535 ​ 2,590,535 Accrued interest receivable ​ 15,700 ​ 15,700 ​ — ​ — ​ 15,700 Bank-owned life insurance ​ 33,236 ​ — ​ 33,236 ​ — ​ 33,236 Financial Liabilities ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ $ 728,082 ​ $ — ​ $ 728,082 ​ $ — ​ $ 728,082 Interest-bearing deposits ​ 1,955,967 ​ — ​ 1,955,967 ​ — ​ 1,955,967 Time deposits ​ 411,562 ​ — ​ 408,910 ​ — ​ 408,910 Short-term borrowings ​ 314,170 ​ 314,170 ​ — ​ — ​ 314,170 Long-term debt ​ 58,956 ​ — ​ 57,437 ​ — ​ 57,437 Accrued interest payable ​ 6,826 ​ 6,826 ​ — ​ — ​ 6,826 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Carrying ​ Estimated Fair Value (dollars in thousands) Amount Level 1 Level 2 Level 3 Total Financial Assets ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 58,242 ​ $ 58,242 ​ $ — ​ $ — ​ $ 58,242 Investment securities held-to-maturity ​ ​ 321,902 ​ ​ — ​ ​ 270,912 ​ ​ — ​ ​ 270,912 Loans, net ​ 2,412,848 ​ — ​ — ​ 2,311,956 ​ 2,311,956 Accrued interest receivable ​ 12,869 ​ 12,869 ​ — ​ — ​ 12,869 Bank-owned life insurance ​ 33,991 ​ — ​ 33,991 ​ — ​ 33,991 Financial Liabilities ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ $ 860,987 ​ $ — ​ $ 860,987 ​ $ — ​ $ 860,987 Interest-bearing deposits ​ 1,842,138 ​ — ​ 1,842,138 ​ — ​ 1,842,138 Time deposits ​ 212,359 ​ — ​ 208,550 ​ — ​ 208,550 Short-term borrowings ​ 378,080 ​ 378,080 ​ — ​ — ​ 378,080 Long-term debt ​ 58,843 ​ — ​ 56,116 ​ — ​ 56,116 Accrued interest payable ​ 2,426 ​ 2,426 ​ — ​ — ​ 2,426 ​

Parent Company Only Financial S

Parent Company Only Financial Statements	12 Months Ended
	Dec. 31, 2023
Parent Company Only Financial Statements
Parent Company Only Financial Statements	NOTE 30 Parent Company Only Financial Statements The condensed financial statements of Alerus Financial Corporation (parent company only) are presented below. These statements should be read in conjunction with the Notes to the Consolidated Financial Statements Alerus Financial Corporation Parent Company Condensed Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Assets ​ ​ Cash and cash equivalents ​ $ 70,853 ​ $ 84,017 Investment in subsidiaries ​ 354,303 ​ 338,595 Deferred income taxes, net ​ 757 ​ 904 Other assets ​ 9,968 ​ 487 Total assets ​ $ 435,881 ​ $ 424,003 Liabilities and Stockholders’ Equity ​ ​ Long‑term debt ​ $ 58,956 ​ $ 58,843 Accrued expenses and other liabilities ​ 7,798 ​ 8,288 Total liabilities ​ 66,754 ​ 67,131 Stockholders’ equity ​ 369,127 ​ 356,872 Total stockholders’ equity ​ 369,127 ​ 356,872 Total liabilities and stockholders’ equity ​ $ 435,881 ​ $ 424,003 ​ Alerus Financial Corporation Parent Company Condensed Statements of Income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (dollars in thousands) 2023 2022 2021 Income ​ ​ ​ Dividends from subsidiaries ​ $ 21,000 ​ $ 18,500 ​ $ 16,000 Other income ​ 24 ​ 16 ​ 4 Total operating income ​ 21,024 ​ 18,516 ​ 16,004 Expenses ​ 6,043 ​ 6,583 ​ 5,293 Income before equity in undistributed income ​ 14,981 ​ 11,933 ​ 10,711 Equity in undistributed income of subsidiaries ​ (4,826) ​ 26,424 ​ 40,642 Income before income taxes ​ 10,155 ​ 38,357 ​ 51,353 Income tax benefit ​ 1,541 ​ 1,648 ​ 1,328 Net income ​ $ 11,696 ​ $ 40,005 ​ $ 52,681 ​ ​ Alerus Financial Corporation Parent Company Condensed Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (dollars in thousands) 2023 2022 2021 Operating activities ​ ​ ​ Net income ​ $ 11,696 ​ $ 40,005 ​ $ 52,681 Adjustments to reconcile net income to net cash provided by operating activities ​ ​ ​ Equity in undistributed income of subsidiaries ​ 4,826 ​ (26,424) ​ (40,642) Depreciation and amortization ​ — ​ 87 ​ 115 Stock‑based compensation cost ​ 1,628 ​ 1,904 ​ 3,095 Other, net ​ (9,854) ​ 419 ​ 1,266 Net cash provided by operating activities ​ 8,296 ​ 15,991 ​ 16,515 Investing activities ​ ​ ​ Net cash (paid) for business combinations ​ — ​ (189) ​ — Net cash provided by investing activities ​ — ​ (189) ​ — Financing activities ​ ​ ​ Cash dividends paid on common stock ​ (14,822) ​ (12,800) ​ (10,751) Repurchase of common stock ​ (6,638) ​ (738) ​ (712) Net cash provided by financing activities ​ (21,460) ​ (13,538) ​ (11,463) Change in cash and cash equivalents ​ (13,164) ​ 2,264 ​ 5,052 Cash and cash equivalents at beginning of period ​ 84,017 ​ 81,753 ​ 76,701 Cash and cash equivalents at end of period ​ $ 70,853 ​ $ 84,017 ​ $ 81,753 ​

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events.
Subsequent Events	NOTE 31 Subsequent Events Subsequent events have been evaluated through March 8, 2024, which is the date these financial statements were issued.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Significant Accounting Policies
Organization	Alerus Financial Corporation is a financial holding company organized under the laws of Delaware. Alerus Financial Corporation and its subsidiaries, or the Company, is a diversified financial services company headquartered in Grand Forks, North Dakota. Through its subsidiary, Alerus Financial, National Association, or the Bank, the Company provides innovative and comprehensive financial solutions to businesses and consumers through four distinct business lines – banking, retirement and benefit services, wealth management, and mortgage. The Bank operates under a national charter and provides full banking services. As a national bank, the Bank is subject to regulation by the Office of the Comptroller of Currency and the Federal Deposit Insurance Corporation.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries in which the Company has a controlling interest. Significant intercompany balances and transactions have been eliminated in consolidation. In the normal course of business, the Company may enter into a transaction with a variable interest entity, or VIE. VIEs are legal entities whose investors lack the ability to make decisions about the entity’s activities, or whose equity investors do not have the right to receive the residual returns of the entity. The applicable accounting guidance requires the Company to perform ongoing quantitative and qualitative analysis to determine whether it must consolidate any VIE. The Company does not have any ownership interest in or exert any control over any VIE, and thus no VIEs are included in the consolidated financial statements.
Reclassifications	Reclassifications Certain reclassifications have been made to prior year amounts, without impact to net income or total stockholders’ equity, to conform to the current year’s presentation.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, or GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the fair value of assets acquired and liabilities assumed from an acquisition and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include the valuation of investment securities, determination of the allowance for credit losses, valuation of reporting units for the purpose of testing goodwill and other intangible assets for impairment, valuation of deferred tax assets, and fair values of financial instruments.
Emerging Growth Company	Emerging Growth Company The Company qualifies as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012, or the JOBS Act, and may take advantage of certain exemptions from various reporting requirements that are applicable to public companies that are not emerging growth companies, including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. In addition, even if the Company complies with the greater obligations of public companies that are not emerging growth companies, the Company may avail itself of the reduced requirements applicable to emerging growth companies from time to time in the future, so long as the Company is an emerging growth company. The Company will continue to be an emerging growth company until the earliest to occur of: (1) the end of the fiscal year following the fifth anniversary of the date of the first sale of common equity securities under the Company’s Registration Statement on Form S-1, which was declared effective by the U.S. Securities and Exchange Commission, or SEC, on September 12, 2019; (2) the last day of the fiscal year in which the Company has $1.235 billion or more in annual revenues; (3) the date on which the Company is deemed to be a “large accelerated filer” under the Securities Exchange Act of 1934, as amended, or the Exchange Act; or (4) the date on which the Company has, during the previous three-year period, issued publicly or privately, more than $1.0 billion in non-convertible debt securities. Management cannot predict if investors will find the Company’s common stock less attractive because it will rely on the exemptions available to emerging growth companies. If some investors find the Company’s common stock less attractive as a result, there may be a less active trading market for its common stock and the Company’s stock price may be more volatile. The last year the Company qualifies as an emerging growth company is 2024. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933 for complying with new or revised accounting standards. As an emerging growth company, the Company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company elected to take advantage of the benefits of this extended transition period.
Concentrations of Credit Risk	Concentrations of Credit Risk Substantially all of the Company’s lending activities are with clients located within North Dakota, Minnesota, and Arizona. At December 31, 2023 and 2022 respectively, 21.7% and 23.9% of the Company’s loan portfolio consisted of commercial and industrial loans that were not secured by real estate. The Company does not have any significant loan concentrations in any one industry or with any one client. Note 6 (Loans and Allowance for credit losses) discusses the Company’s loan portfolio. The Company invests in a variety of investment securities and does not have any significant concentrations in any one industry or to any one issuer. Note 5 (Investment Securities) discusses the Company’s investment securities portfolio.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, cash and due from banks includes cash and cash equivalents, balances due from banks, and federal funds sold, all of which have an original maturity within 90 days. Cash flows from loans, FHLB stock, deposits, and short-term borrowings are reported net. Interest-bearing deposits in banks are carried at cost.
Investment Securities	Investment Securities Debt securities are classified as available for sale, or AFS, and are carried at estimated fair value with unrealized gains and losses reported in other comprehensive income (loss). Realized gains (losses) on AFS debt securities are included in net gains (losses) on investment securities in other comprehensive income. Gains (losses) on sales of investment securities are determined using the specific identification method on the trade date. The amortization of premiums and accretion of discounts are recognized in interest income using methods approximating the interest method over the period to maturity. For AFS debt securities in an unrealized loss position, the Company evaluates the securities to determine whether the decline in fair value below the amortized cost basis, or impairment, is due to credit-related factors or noncredit-related factors. Any impairment that is not credit related is recognized in other comprehensive income (loss), net of applicable taxes. Credit-related impairment is recognized as an allowance for credit losses, or ACL, related to AFS debt securities on the balance sheet, limited to the amount by which the amortized cost basis exceeds the fair value, with a corresponding adjustment to earnings as an expense (credit) within the provision for credit losses on the consolidated statements of income. Both the ACL and the adjustment to net income may be reversed if conditions change. However, if the Company intends to sell an impaired available-for-sale investment security or is required to sell such a security before recovering its amortized cost basis, the entire impairment amount must be recognized in earnings with a corresponding adjustment to the security’s amortized cost basis. Because the security’s amortized cost basis is adjusted to fair value, there is no ACL in this situation. Accrued interest receivable is excluded from the estimate of credit losses. In evaluating AFS debt securities in unrealized loss positions for impairment and the criteria regarding its intent or requirement to sell such securities, the Company considers the extent to which fair value is less than amortized cost, whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuers’ financial condition, macroeconomic trends of the industry specific to the security, and any other adverse conditions specifically related to the security, among other factors. ​ As of December 31, 2023 and 2022, there was no ACL carried on the Company’s AFS debt securities nor were there any permanent write-offs for the years ended December 31, 2023, 2022 and 2021. Refer to Note 5 (Investment Securities) for further discussion. ​ Certain debt securities that the Company has an intent to hold to maturity are classified as held-to-maturity, or HTM, and recorded at amortized cost. Interest earned on HTM debt securities is included in interest income. Amortization or accretion of premiums and discounts is also recognized in interest income using the effective interest method over the contractual life of the security and is adjusted to reflect actual prepayments. Transfers of debt securities from AFS to HTM are made at fair value at the date of transfer. Unrealized holding gains and losses at the date of transfer are included in other comprehensive income and in the carrying value of HTM security and are amortized over the remaining life of the security. Management measures expected credit losses on HTM debt securities on a collective basis by major security type. The Company evaluates HTM debt securities by credit rating and an external study, updated quarterly, that includes historical information such as probability of default and loss going back several years. Accrued interest receivable on HTM debt securities is excluded from the estimate of credit losses. A change in the ACL related to HTM debt securities is recorded as an expense (credit) within the provision for credit losses on the consolidated statements of income. As of December 31, 2023, there was $213 thousand of ACL carried on the Company’s HTM debt securities. As of December 31, 2022, there was no allowance carried on the Company’s HTM debt securities. For the years ended December 31, 2023, 2022 and 2021, there were no permanent write-offs. Refer to Note 5 (Investment Securities) for further discussion. Nonmarketable Equity Securities Nonmarketable equity securities include the Bank’s required investments in the stock of the Federal Home Loan Bank of Des Moines, or the FHLB and the Federal Reserve Bank, or the FRB. The Bank is a member of the FHLB as well as its regional FRB. Members are required to own a certain amount of stock based of the level of borrowing and other factors, and may invest in additional amounts. FHLB stock and FRB stock are carried at cost, classified as other assets, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.
Loans Held for Sale	Loans Held for Sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses are recognized through a valuation allowance by charges to income. Gains (losses) on loan sales are recorded in mortgage banking revenue on the consolidated statements of income.
Loans and ACL on loans	Loans Loans are stated at the amount of unpaid principal, reduced by an allowance for credit losses. Loans that management has the intent and ability to hold for the foreseeable future, until maturity or pay-off, generally are reported at their outstanding unpaid principal balances adjusted for charge-offs, and the allowance for credit losses. Loan fees received that are associated with originating or acquiring certain loans are deferred, net of costs, and amortized over the life of the loan as a yield adjustment to interest income. The accrual of interest on loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Consumer loans are typically charged-off no later than 120 days past due. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest in considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual or charged-off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. ACL on Loans Upon adoption of ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Under the current expected credit loss, or CECL, accounting standard the ACL is a valuation estimated at each balance sheet date and deducted from the amortized cost basis of loans held for investment to present the net amount expected to be collected. The Company estimates the ACL based on the underlying assets’ amortized cost basis, which is the amount at which the financing receivable is originated or acquired, adjusted for collection of cash and charge-offs, as well as applicable accretion or amortization of premium, discount and net deferred fees or costs. In the event that collection of principal becomes uncertain, the Company has policies in place to reverse accrued interest in a timely manner. Therefore, the Company has made the policy election to exclude accrued interest from the measurement of ACL. The ACL on loans is increased by charges to provision for credit losses and reduced by charge-offs, net of recoveries. Management evaluates the appropriateness of the ACL on loans quarterly. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant change from period to period. The ACL on loans is presented on the consolidated statements of condition. ​ Loans past due 30 days or more are considered delinquent. In general, secured loans that are delinquent for 90 consecutive days are placed on non-accrual status and may be subject to individual loss assessment in accordance with established internal policy. In general, unsecured loans that are delinquent for 90 consecutive days have a provision taken for the full amount of the loan. ​ In cases where a borrower experiences financial difficulty, the Company may make certain concessions for which the terms of the loan are modified. Loans experiencing financial difficulty can include modifications for an interest rate reduction below current market rates, a forgiveness of principal balance, an extension of the loan term, an-other than significant payment delay, or some combination of similar types of modifications. During the years ended December 31, 2023 and 2022, the Company did not provide any modifications to loans under these circumstances that were experiencing financial difficulty. ​ The ACL on loans reduces the loan portfolio to the net amount expected to be collected, and represents the expected losses over the life of all loans at the reporting date. The allowance incorporates forward-looking information and applies a reversion methodology beyond the reasonable and supportable forecast. ​ The ACL on loans represents the Company's estimated risk of loss within its loan portfolio as of the reporting date. To appropriately measure expected credit losses, management disaggregates the loan portfolio into pools of similar risk characteristics ( i.e. ​ As of December 31, 2023, the primary macroeconomic drivers used within the discounted cash flow model included forecasts of National Unemployment, changes in National GDP, and changes in the National Housing Price Index. These macroeconomic drivers may change from time to time as a result of management’s assessment of continued suitability of each factor. ​ To determine its reasonable and supportable forecast, management may leverage macroeconomic forecasts obtained from various reputable sources, which may include, but is not limited to, the Federal Open Market Committee forecast and other publicly available forecasts from well recognized, leading economists or firms. External baseline forecasts are supplemented an assessment of the likelihood of standard alternative scenarios occurring over the forecast period. The Company’s reasonable and supportable forecast period generally ranges from one to two years, depending on the facts and circumstances of the current state of the economy, portfolio segment and management’s judgement of what can be reasonably supported. The model reversion period generally ranges from one to two years, and it also depends on the current state of the economy and management’s judgments of such. Management monitors and assesses the forecast and reversion period at least annually. The Company used a one-year forecast and reversion period to calculate the ACL on loans as of December 31, 2023. ​ The ACL on loans is calculated over a loan’s contractual life. For term loans, the contractual life is calculated based on the maturity date. For revolving loans, the contractual life is based on either the estimated maturity date or a default date. For revolving loans with no stated maturity date, the contractual life is calculated based on the annual attrition rate for the pool. The contractual term does not include expected extension, renewals or modifications. ​ The Company's loan portfolio is segmented into 11 homogenous pools as follows based on the various risk profiles of the Company's loans: ​ ● Commercial & Industrial ● CRE – Construction, Land & Development ● CRE – Multifamily ● CRE – Non-Owner Occupied ● CRE – Owner Occupied ● Agricultural ● Residential – 1st Lien ● Residential – Construction ● Residential – HELOC ● Residential – Jr Lien ● Consumer ● Paycheck Protection Program ​ In calculating the ACL on loans, the contractual life of a loan must be adjusted for prepayments to arrive at expected cash flows. The Company models term loans using an annualized prepayment. When the Company has a specific expectation of differing payment behavior for a given loan, the loan may be evaluated individually. For revolving loans that do not have a principal payment schedule, a curtailment rate is factored into the cash flow. ​ The ACL on loans evaluation may also consider various qualitative factors, such as: actual or expected changes in economic trends and conditions, changes in the value of underlying collateral for loans, changes to lending policies, underwriting standards and/or management personnel performing such functions, delinquency and other credit quality trends, credit risk concentrations, if any, changes to the nature of the Company's business impacting the loan portfolio, and other external factors, that may include, but are not limited to, results of internal loan reviews, examinations by bank regulatory agencies, or other such events such as a natural disaster. ​ Certain loans are individually evaluated for estimated credit losses, including those that are classified as substandard or doubtful and are on non-accrual or that have other unique characteristics differing from the segment. Specific reserves are established when appropriate for such loans based on the present value of expected future cash flows of the loan or the estimated realizable value of the collateral, if any. ​ Management may also adjust its assumptions to account for differences between expected and actual losses from period-to-period. The variability of management’s assumptions could alter the ACL on loans materially and impact future results of operations and financial condition. The loss estimation models and methods used to determine the allowance for credit losses are continually refined and enhanced. ​
Off-Balance Sheet Credit Related Financial Instruments	Off Balance Sheet Credit Related Financial Instruments In the ordinary course of business, the Company enters into commitments to extend credit, including commitments under credit arrangements, commercial letters of credit, and standby letters of credit. Such financial instruments are recorded when they are funded.
ACL on Off Balance Sheet Credit Exposures	ACL on Off Balance Sheet Credit Exposures The ACL on off balance sheet credit exposures, excluding those that are unconditionally cancellable by the Company, estimates the expected losses on the unfunded commitments and standby letters of credit at each reporting date. To appropriately measure expected credit losses, management disaggregates the loan portfolio into similar risk characteristics, identical to those determined for the loan portfolio. An estimated funding rate is then applied to the qualifying unfunded loan commitments and standby letters of credit using the Company’s own historical experience to estimate the expected funded for each loan segment as of the reporting date. Once the expected funded amount for each loan segment is determined, the loss rate, which is the calculated expected loan loss as a percent of the amortized cost basis for each loan segment, is applied to calculate the ACL on off-balance sheet credit exposures as of the reporting date. ​ The ACL on off balance sheet credit exposures is presented within accrued expenses and other liabilities on the consolidated balance sheet. A charge (credit) to provision for credit losses on the consolidated statements of income is made to account for the change in the ACL on off-balance sheet exposures between reporting periods.The ACL on off-balance sheet credit related financial instruments was $7.4 million and $3.2 million as of December 31, 2023 and 2022, respectively.
Accrued Interest Receivable	Accrued Interest Receivable Accrued interest receivable, including receivables related to investments and loans, is excluded from the measurement of the ACL. Accrued interest receivable is written off by reversing previously recognized interest income. The Company has a robust policy in place to write off accrued interest when a loan is placed on non-accrual. For loans, a write-off typically occurs when a loan has been in default for 90 days or more.
Land, Premises and Equipment, Net	Land, Premises and Equipment, Net Land is carried at cost. Other premises and equipment are carried at cost net of accumulated depreciation. Depreciation is computed on a straight-line method based principally on the estimated useful lives of the assets. Maintenance and repairs are expensed as incurred while major additions and improvements are capitalized. Gains (losses) on dispositions are included in current operations.
Bank-Owned Life Insurance	Bank Owned Life Insurance The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at its cash surrender value, or the amount that can be realized, if lower.
Goodwill and Other Intangibles, Net	Goodwill and Other Intangibles, Net Goodwill resulting from acquisitions is not amortized, but is tested for impairment annually. As part of its testing, the Company performs a quantitative analysis to determine whether it is more likely than not that the estimated fair value of a reporting unit is less than its carrying amount. If the Company determines the estimated fair value of a reporting unit is less than its carrying amount using certain qualitative factors, the Company then compares the estimated fair value of the goodwill with its carrying amount, and then measures impairment loss by comparing the estimated fair value of goodwill with the carrying amount of that goodwill. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions, and selecting an appropriate control premium. At December 31, 2023, the Company believes it did not have any indications of potential impairment based on the estimated fair value of the reporting units. Intangible assets determined to have definite lives are amortized over the remaining useful lives. Intangible and other long-lived assets are reviewed for impairment whenever events occur, or circumstances indicate that the carrying amount may not be recoverable.
Mortgage Banking	Mortgage Banking Residential real estate loans are originated for purposes of being held for investment and held for sale into the secondary market. The transfer of these financial assets is accounted for as a sale when control over the asset has been surrendered. Control is deemed to be surrendered when the asset has been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred asset, and the Company records the gain on sale of the financial asset within mortgage banking income on the consolidated statements of income. Servicing assets are recognized as separate assets when servicing rights are acquired through the sale of residential mortgage loans with servicing rights retained. Capitalized servicing rights are initially recorded at estimated fair value based on assumptions provided by a third-party valuation service. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as servicing cost per loan, the discount rate, the escrow float rate, an inflation rate, ancillary income, prepayment speeds, and default rates and losses. Loan servicing income is recorded on the accrual basis and includes servicing fees from investors and certain charges collected from borrowers, such as late payment fees, and is net of estimated fair value adjustments to capitalized mortgage servicing rights. Capitalized servicing rights are amortized into mortgage banking income in proportion to, and over the period of, the estimated future servicing income of the underlying loans. Servicing rights are accounted for at the lower of amortized cost or fair value. Servicing rights are evaluated for impairment based upon the estimated fair value of the rights as compared to amortized cost. Impairment is determined by stratifying rights by predominant characteristics, such as interest rates and terms. Impairment is recognized through a valuation allowance for an individual tranche, to the extent that estimated fair value is less than the capitalized amount for the tranche. If the Company later determines that all or a portion of the impairment no longer exists for a particular tranche, a reduction of the allowance may be recorded as an increase to income. Servicing fee income is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan, and are recorded as income when earned. The amortization of servicing rights is netted against loan servicing fee income.
Impairment of Long Lived Assets	Impairment of Long Lived Assets The Company tests long lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. In the event such an asset is considered impaired, the impairment to be recognized is measured by the amount by which the carrying value of the asset exceeds the estimated fair value of the asset. Assets to be disposed of are reported at the lower of the carrying value of estimated fair value less estimated costs to sell.
Leases	Leases The Company leases office space, space for ATM locations and certain branch locations under noncancellable operating leases, several of which have renewal options to extend the lease terms. Upon commencement of a new lease, the Company will recognize a right-of-use, or ROU, asset and a corresponding lease liability. The Company makes the decision on whether to renew an option to extend a lease by considering various factors. The Company will recognize an adjustment to ROU asset and lease liability when lease agreements are amended and executed. The discount rate used in determining the present value of lease payments is based on the lessor’s implicit rate in the lease if known or the Company’s incremental borrowings rate for borrowing terms similar to each lease at commencement date. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. For real estate leases, non-lease components, such as common area maintenance charges, real estate taxes and insurance, are not included in the measurement of the lease liability since they are generally able to be segregated. The Company has elected the short-term lease recognition exemption for all leases that qualify.
Foreclosed Assets	Foreclosed Assets Assets acquired through loan foreclosure are included in other assets and are initially recorded at estimated fair value less estimated selling costs. The estimated fair value of foreclosed assets is evaluated regularly and any decreases in value along with holding costs, such as taxes, insurance and utilities, are reported in noninterest expense.
Transfers of Financial Assets and Participating Interests	Transfers of Financial Assets and Participating Interests Transfers of financial assets are accounted for as sales when control over assets has been surrendered or in the case of loan participation, a portion of the asset has been surrendered and meets the definition of a “participating interest.” Control over transferred assets is deemed to be surrendered when 1) the assets have been isolated from the Company, 2) the transferee obtains the rights to pledge or exchange the transferred assets, and 3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Should the transfer not meet these three criteria, the transaction is treated as a secured financing. Loans serviced for others are not included in the accompanying consolidated balance sheets. Servicing loans for others generally consists of collecting mortgage payments, maintaining escrow accounts, disbursing payments to investors and collection and foreclosure processing.
Short-Term and Long-Term Borrowings	Short-Term and Long-Term Borrowings Short-term borrowings are those that, at time of origination, are scheduled to mature within one year. The Company’s short-term borrowings include, but are not limited to, FHLB overnight and FHLB advances, federal funds purchased, and line-of-credit advances. Long-term borrowings are those that, at time of origination, are scheduled to mature in one or more years. The Company’s long-term borrowings include, but are not limited to, FHLB advances, subordinated notes payable, trust preferred securities, and junior subordinated debentures. Short-term and long-term borrowings on the consolidated statements of income are presented net of unamortized issuance costs, if any, and amortized over the life of the borrowing. The Company is required to post collateral for certain borrowings, for which it generally posts loans and/or investment securities as collateral.
Derivatives and Hedging Activities	Derivatives and Hedging Activities In the ordinary course of business, the Company enters into derivative transactions to manage various risks and to accommodate the business requirements of its clients. Derivative instruments are reported in other assets or other liabilities at estimated fair value. The Company formally documents relationships between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedge transactions. The Company also assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are effective in offsetting changes in cash flows or fair values of hedged items. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Changes in fair value of a derivative that qualifies as a fair value hedge and the change in fair value of the hedged item are both recorded in earnings and offset each other when the transaction is effective. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Changes in fair value of a derivative that is effective and that qualifies as a cash flow hedge are recorded in OCI and are reclassified into earnings when the forecasted transaction or related cash flows affect earnings. The Company will also enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. Changes in the fair value of the derivatives not designated are recognized directly in earnings.
Noninterest Income	Noninterest Income Specific guidelines are established for recognition of certain noninterest income components related to the Company’s consolidated financial statements. In accordance with Topic 606, revenues are recognized when control of promised goods or services is transferred to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. To determine revenue recognition for arrangements that the Company determines are within the scope of Topic 606, the Company performs the following five steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of Topic 606, the Company assesses the goods or services that are promised within each contract and identifies those that contain performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. The material groups of noninterest income that this methodology is applied to are defined as follows: Retirement and benefit services: Wealth management: Service charges on deposit accounts: Other noninterest income:
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred.
Tax Credit Investments	Tax Credit Investments The Company invests in qualified affordable housing projects for the purpose of community reinvestment and obtaining tax credits. These investments are included in other assets on the balance sheet, and any unfunded commitments in accrued expenses and other liabilities on the balance sheet. The qualified affordable housing projects are accounted for under the proportional amortization method. Under the proportional amortization method, the initial cost of the investment is recognized over the period that the Company expects to receive the tax credits, with the expense included within income tax expense on the consolidated statements of income. Management analyzes these investments for potential impairment when events or changes in circumstances indicate that it is more likely than not that the carrying amount of the investment will not be realized. An impairment loss is measured as the amount by which the carrying amount of an investment exceeds its fair value.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance would be recognized if it is “more likely than not” that the deferred tax asset would not be realized. These calculations are based on many complex factors including estimates of the timing of reversals of temporary differences, the interpretation of federal and state income tax laws, and a determination of the differences between the tax and the financial reporting basis of assets and liabilities. Actual results could differ significantly from the estimates and interpretations used in determining the current and deferred income tax liabilities. The Company follows standards related to Accounting for Uncertainty in Income Taxes. These rules establish a higher standard for tax benefits to meet before they can be recognized in a Company’s consolidated financial statements. The Company can recognize in financial statements the impact of a tax position taken, or expected to be taken, if it is more likely than not that the position will be sustained on an audit based on the technical merit of the position. See Note 20 (Income Taxes) for additional disclosures. The Company recognizes both interest and penalties as components of other operating expenses. The amount of the uncertain tax position was not determined to be material. It is not expected that the unrecognized tax benefit will be material within the next 12 months. The Company did not incur any interest or penalties in 2023, 2022, or 2021. The Company files consolidated federal and state income tax returns. The Company is no longer subject to U.S. federal or state tax examinations by tax authorities for years before 2020.
Comprehensive Income	Comprehensive Income Recognized revenue, expenses, gains, and losses are included in net income. Certain changes in assets and liabilities, such as unrealized gains (losses) on debt securities, unrealized gains (losses) on cash flow hedging derivatives, reclassification adjustments for losses (gains) realized in income, and unrealized gains (losses) on other derivatives, are reported as a separate component of the equity section of the consolidated balance sheets. Such items, along with net income, are components of comprehensive income.
Stock Compensation Plans	Stock Compensation Plans Stock compensation accounting guidance requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. The cost will be measured based on the grant date estimated fair value of the equity or liability instruments issued. The grant date estimated fair value is determined using the closing price of the Company’s common stock. The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employee’s service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award.
Earnings per Share	Earnings per Share Earnings per share are calculated utilizing the two-class method. Earnings per share calculations include shares related to the Alerus Financial Corporation Employee Stock Ownership Plan. Basic earnings per share is calculated by dividing the sum of distributed earnings to common stockholders and undistributed earnings allocated to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per share are calculated by dividing the sum of distributed earnings to common stockholders and undistributed earnings allocated to common stockholders by the weighted-average number of shares adjusted for the dilutive effect of common stock awards.

New Accounting Pronouncements (

New Accounting Pronouncements (Tables)	12 Months Ended
	Dec. 31, 2023
New Accounting Pronouncements
Schedule of impact of ASC 326	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ January 1, 2023 ​ ​ As reported ​ ​ ​ ​ Pre-tax impact of (dollars in thousands) under ​ Pre-ASC 326 ​ ASC 326 Assets: ASC 326 ​ Adoption ​ Adoption Investments ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of state and political agencies ​ $ 110 ​ $ — ​ $ 110 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ ​ 62 ​ ​ — ​ ​ 62 Total allowance for held-to-maturity investment securities ​ ​ 172 ​ ​ — ​ ​ 172 Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 8,526 ​ ​ 9,233 ​ ​ (707) Real estate construction ​ ​ 3,986 ​ ​ 1,437 ​ ​ 2,549 Commercial real estate ​ ​ 12,630 ​ ​ 12,761 ​ ​ (131) Total commercial ​ ​ 25,142 ​ ​ 23,431 ​ ​ 1,711 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ ​ 8,126 ​ ​ 5,857 ​ ​ 2,269 Residential real estate junior lien ​ ​ 1,291 ​ ​ 1,318 ​ ​ (27) Other revolving and installment ​ ​ 444 ​ ​ 540 ​ ​ (96) Total consumer ​ ​ 9,861 ​ ​ 7,715 ​ ​ 2,146 Total allowance for loans ​ ​ 35,003 ​ ​ 31,146 ​ ​ 3,857 Allowance for credit losses on loans and investments securities ​ $ 35,175 ​ $ 31,146 ​ $ 4,029 Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses on unfunded commitments ​ $ 5,159 ​ $ 3,244 ​ $ 1,915

Business Combinations (Tables)

Business Combinations (Tables) - MPB	12 Months Ended
	Dec. 31, 2023
Business Combinations
Schedule of recognized identified assets acquired and liabilities assumed	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As recorded by Preliminary Fair Value ​ As recorded by (dollars in thousands) Metro Phoenix Bank Adjustments the Company Assets ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 101,819 ​ $ (123) ​ $ 101,696 Fed funds sold ​ ​ 18,936 ​ ​ — ​ ​ 18,936 Core deposit intangible ​ ​ — ​ ​ 7,592 ​ ​ 7,592 Loans ​ ​ 273,843 ​ ​ (3,440) ​ ​ 270,403 Accrued interest receivable ​ ​ 1,091 ​ ​ — ​ ​ 1,091 Other assets ​ ​ 3,342 ​ ​ 188 ​ ​ 3,530 Total assets ​ ​ 399,031 ​ ​ 4,217 ​ ​ 403,248 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 354,529 ​ ​ (844) ​ ​ 353,685 Other liabilities ​ ​ 673 ​ ​ — ​ ​ 673 Total liabilities ​ ​ 355,202 ​ ​ (844) ​ ​ 354,358 Excess assets over liabilities ​ $ 43,829 ​ $ 5,061 ​ ​ 48,890 Stock issued for MPB ​ ​ ​ ​ ​ ​ ​ ​ 64,019 Total goodwill recorded ​ ​ ​ ​ ​ ​ ​ $ 15,129
Schedule of pro forma information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pro Formas (unaudited) ​ ​ for the years ended December 31, (dollars in thousands) 2022 2021 Net interest income after provision for credit losses ​ $ 107,172 ​ $ 104,087 Noninterest income ​ 112,755 ​ 151,499 Noninterest expense ​ ​ 166,476 ​ ​ 178,337 Net income (after tax) ​ ​ 40,784 ​ ​ 58,585 Basic earnings per common share ​ $ 2.17 ​ $ 3.36 Diluted earnings per common share ​ $ 2.14 ​ $ 3.30
Schedule of loan balances	​ ​ ​ ​ ​ ​ ​ December 31, (dollars in thousands) 2022 Real estate construction $ 175 Outstanding balance ​ ​ 175 Carrying amount ​ ​ 151 Allowance for credit losses on loans ​ ​ — Carrying amount, net of allowance for loan losses ​ $ 151
Schedule of accretable yield or income expected to be collected	​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, (dollars in thousands) 2022 Beginning balance $ 177 New loans purchased ​ ​ — Accretion of income ​ ​ — Ending balance ​ $ 177 ​

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2023
Investment Securities
Schedule of amortized cost of investment securities to estimated fair values	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Allowance for ​ Fair (dollars in thousands) Cost ​ Gains ​ Losses ​ Credit Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ $ 1,119 ​ $ 4 ​ $ (3) ​ $ — ​ $ 1,120 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ 524,140 ​ 1 ​ (88,547) ​ ​ — ​ 435,594 Commercial ​ 1,476 ​ — ​ (123) ​ ​ — ​ 1,353 Asset backed securities ​ 26 ​ — ​ (1) ​ ​ — ​ 25 Corporate bonds ​ 57,993 ​ — ​ (9,349) ​ ​ — ​ 48,644 Total available-for-sale investment securities ​ ​ 584,754 ​ ​ 5 ​ ​ (98,023) ​ ​ — ​ ​ 486,736 Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of state and political agencies ​ ​ 129,603 ​ — ​ (12,613) ​ ​ 114 ​ 116,990 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ ​ 170,125 ​ — ​ (28,498) ​ ​ 99 ​ 141,627 Total held-to-maturity investment securities ​ ​ 299,728 ​ ​ — ​ ​ (41,111) ​ ​ 213 ​ ​ 258,617 Total investment securities ​ $ 884,482 ​ $ 5 ​ $ (139,134) ​ $ 213 ​ $ 745,353 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Allowance for ​ Fair (dollars in thousands) Cost ​ Gains ​ Losses ​ Credit Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ $ 3,518 ​ $ 19 ​ $ (17) ​ ​ N/A ​ $ 3,520 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ 705,845 ​ 2 ​ (118,168) ​ ​ N/A ​ 587,679 Commercial ​ 70,669 ​ — ​ (7,111) ​ ​ N/A ​ 63,558 Asset backed securities ​ 34 ​ — ​ — ​ ​ N/A ​ 34 Corporate bonds ​ 69,501 ​ — ​ (6,968) ​ ​ N/A ​ 62,533 Total available-for-sale investment securities ​ ​ 849,567 ​ ​ 21 ​ ​ (132,264) ​ ​ N/A ​ ​ 717,324 Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of state and political agencies ​ ​ 137,787 ​ — ​ (17,736) ​ ​ N/A ​ ​ 120,051 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ ​ 184,115 ​ — ​ (33,254) ​ ​ N/A ​ ​ 150,861 Total held-to-maturity investment securities ​ ​ 321,902 ​ ​ — ​ ​ (50,990) ​ ​ N/A ​ ​ 270,912 Total investment securities ​ $ 1,171,469 ​ $ 21 ​ $ (183,254) ​ ​ N/A ​ $ 988,236
Schedule of proceeds from the sale of available for sale securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2023 2022 2021 Proceeds ​ $ 171,758 ​ $ — ​ $ 13,189 Realized gains ​ — ​ — ​ ​ 114 Realized losses ​ (24,643) ​ — ​ ​ —
Schedule of proceeds from the call of held-to-maturity investment securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2023 2022 2021 Proceeds ​ $ 242 ​ $ 963 ​ $ 1,772 Realized gains ​ — ​ — ​ ​ 11 Realized losses ​ — ​ — ​ ​ —
Schedule of investment securities with gross unrealized losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ Less than 12 Months ​ Over 12 Months ​ Total ​ ​ Number of ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair (dollars in thousands) Holdings ​ Losses Value Losses Value Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ 1 ​ $ (3) ​ $ 489 ​ $ — ​ $ — ​ $ (3) ​ $ 489 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ 112 ​ — ​ 43 ​ (88,547) ​ 435,505 ​ (88,547) ​ 435,548 Commercial ​ 1 ​ — ​ — ​ (123) ​ 1,353 ​ (123) ​ 1,353 Asset backed securities ​ 3 ​ — ​ — ​ (1) ​ 25 ​ (1) ​ 25 Corporate bonds ​ 12 ​ — ​ — ​ (9,349) ​ 48,644 ​ (9,349) ​ 48,644 Total available-for-sale investment securities ​ 129 ​ $ (3) ​ $ 532 ​ $ (98,020) ​ $ 485,527 ​ $ (98,023) ​ $ 486,059 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ Less than 12 Months ​ Over 12 Months ​ Total ​ ​ Number of ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair (dollars in thousands) Holdings ​ Losses Value Losses Value Losses Value Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and agencies ​ 1 ​ $ (17) ​ $ 509 ​ $ — ​ $ — ​ $ (17) ​ $ 509 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ 145 ​ (10,457) ​ 79,693 ​ (107,711) ​ 507,418 ​ (118,168) ​ 587,111 Commercial ​ 17 ​ (4,835) ​ 50,437 ​ (2,276) ​ 13,120 ​ (7,111) ​ 63,557 Asset backed securities ​ 3 ​ — ​ 32 ​ — ​ 2 ​ — ​ 34 Corporate bonds ​ 17 ​ (4,452) ​ 48,048 ​ (2,516) ​ 14,484 ​ (6,968) ​ 62,532 Total available-for-sale investment securities ​ 183 ​ ​ (19,761) ​ ​ 178,719 ​ ​ (112,503) ​ ​ 535,024 ​ ​ (132,264) ​ ​ 713,743 Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of state and political agencies ​ 181 ​ ​ (3,336) ​ ​ 18,788 ​ ​ (14,400) ​ ​ 98,762 ​ ​ (17,736) ​ ​ 117,550 Mortgage backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ 27 ​ ​ — ​ ​ — ​ ​ (33,254) ​ ​ 150,861 ​ ​ (33,254) ​ ​ 150,861 Total held-to-maturity investment securities ​ 208 ​ ​ (3,336) ​ ​ 18,788 ​ ​ (47,654) ​ ​ 249,623 ​ ​ (50,990) ​ ​ 268,411 Total investment securities ​ 391 ​ $ (23,097) ​ $ 197,507 ​ $ (160,157) ​ $ 784,647 ​ $ (183,254) ​ $ 982,154
Schedule of contractual maturity of amortized cost and estimated fair value	​ The following table presents amortized cost and fair value of AFS investment securities and the carrying value and fair value of HTM investment securities at December 31, 2023, by contractual maturity: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-maturity ​ Available-for-sale ​ ​ Carrying ​ Fair ​ Amortized ​ Fair (dollars in thousands) Value ​ Value ​ Cost Value Due within one year or less ​ $ 8,588 ​ $ 8,474 ​ $ — ​ $ — Due after one year through five years ​ 47,995 ​ 44,557 ​ 524 ​ 521 Due after five years through ten years ​ 60,289 ​ 52,729 ​ 59,477 ​ 50,004 Due after 10 years ​ 12,731 ​ 11,230 ​ 613 ​ 617 ​ ​ ​ 129,603 ​ ​ 116,990 ​ ​ 60,614 ​ ​ 51,142 Mortgage-backed securities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential agency ​ ​ 170,125 ​ ​ 141,627 ​ ​ 524,140 ​ ​ 435,594 Total investment securities ​ $ 299,728 ​ $ 258,617 ​ $ 584,754 ​ $ 486,736 ​
Schedule of federal home loan bank	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Federal Reserve ​ $ 4,623 ​ $ 4,595 FHLB ​ 16,566 ​ 19,362

Loans and Allowance for Credi_2

Loans and Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2023
Loans and Allowance for Credit Losses
Schedule of total loans outstanding by portfolio segment	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, (dollars in thousands) 2023 2022 Commercial ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 598,321 ​ $ 583,876 Real estate construction ​ 124,034 ​ 97,810 Commercial real estate ​ 1,126,912 ​ 881,670 Total commercial ​ 1,849,267 ​ 1,563,356 Consumer ​ ​ Residential real estate first mortgage ​ 726,879 ​ 679,551 Residential real estate junior lien ​ 154,134 ​ 150,479 Other revolving and installment ​ 29,303 ​ 50,608 Total consumer ​ 910,316 ​ 880,638 Total loans ​ $ 2,759,583 ​ $ 2,443,994 ​
Summary of changes in allowances	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2023 ​ ​ Beginning ​ Adoption ​ Provision for ​ Loan ​ Loan ​ Ending (dollars in thousands) Balance of ASC 326 Credit Losses (1) Charge-offs Recoveries Balance Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 9,233 ​ $ (707) ​ $ 645 ​ $ (436) ​ $ 1,159 ​ $ 9,894 Real estate construction ​ ​ 1,437 ​ ​ 2,549 ​ ​ 2,125 ​ ​ — ​ ​ — ​ ​ 6,111 Commercial real estate ​ ​ 12,761 ​ ​ (131) ​ ​ (778) ​ ​ — ​ ​ 45 ​ ​ 11,897 Total commercial ​ ​ 23,431 ​ ​ 1,711 ​ ​ 1,992 ​ ​ (436) ​ ​ 1,204 ​ ​ 27,902 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ ​ 5,857 ​ ​ 2,269 ​ ​ (1,829) ​ ​ (49) ​ ​ 330 ​ ​ 6,578 Residential real estate junior lien ​ ​ 1,318 ​ ​ (27) ​ ​ (115) ​ ​ (77) ​ ​ 52 ​ ​ 1,151 Other revolving and installment ​ ​ 540 ​ ​ (96) ​ ​ (273) ​ ​ (51) ​ ​ 92 ​ ​ 212 Total consumer ​ ​ 7,715 ​ ​ 2,146 ​ ​ (2,217) ​ ​ (177) ​ ​ 474 ​ ​ 7,941 Total ​ $ 31,146 ​ $ 3,857 ​ $ (225) ​ $ (613) ​ $ 1,678 ​ $ 35,843 (1) The difference in the credit loss expense reported herein compared to the consolidated statements of income is associated with the credit loss expense of $2.2 million related to off-balance sheet credit exposure and $40 thousand related to investment securities held-to-maturity. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ ​ Beginning ​ Provision for ​ Loan ​ Loan ​ Ending (dollars in thousands) Balance Loan Losses Charge-offs Recoveries Balance Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 9,218 ​ $ 950 ​ $ (1,396) ​ $ 461 ​ $ 9,233 Real estate construction ​ 810 ​ 551 ​ — ​ 76 ​ 1,437 Commercial real estate ​ 12,778 ​ (151) ​ — ​ 134 ​ 12,761 Total commercial ​ 22,806 ​ 1,350 ​ (1,396) ​ 671 ​ 23,431 Consumer ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 6,874 ​ (1,017) ​ — ​ — ​ 5,857 Residential real estate junior lien ​ 1,380 ​ (344) ​ — ​ ​ 282 ​ 1,318 Other revolving and installment ​ 512 ​ 11 ​ (153) ​ 170 ​ 540 Total consumer ​ 8,766 ​ (1,350) ​ (153) ​ 452 ​ 7,715 Total ​ $ 31,572 ​ $ — ​ $ (1,549) ​ $ 1,123 ​ $ 31,146 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ ​ Beginning ​ Provision for ​ Loan ​ Loan ​ Ending (dollars in thousands) Balance Loan Losses Charge-offs Recoveries Balance Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 10,547 ​ $ (1,759) ​ $ (1,230) ​ $ 1,660 ​ $ 9,218 Real estate construction ​ 690 ​ 120 ​ — ​ — ​ 810 Commercial real estate ​ 14,574 ​ (2,082) ​ (536) ​ 822 ​ 12,778 Total commercial ​ 25,811 ​ (3,721) ​ (1,766) ​ 2,482 ​ 22,806 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 6,174 ​ 700 ​ — ​ — ​ 6,874 Residential real estate junior lien ​ 1,472 ​ (215) ​ — ​ 123 ​ 1,380 Other revolving and installment ​ 789 ​ (264) ​ (156) ​ 143 ​ 512 Total consumer ​ 8,435 ​ 221 ​ (156) ​ 266 ​ 8,766 Total ​ $ 34,246 ​ $ (3,500) ​ $ (1,922) ​ $ 2,748 ​ $ 31,572 ​
Schedule of loans outstanding, by portfolio segment and risk category	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ (dollars in thousands) Term Loans Amortized Cost Basis by Origination Year ​ Loans Amortized ​ ​ ​ As of December 31, 2023 ​ 2023 ​ 2022 ​ 2021 ​ 2020 ​ 2019 ​ Prior ​ Cost Basis ​ Total Commercial and industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 197,533 ​ $ 89,090 ​ $ 67,691 ​ $ 64,272 ​ $ 34,603 ​ $ 15,053 ​ $ 100,239 ​ $ 568,481 Special mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ ​ 464 ​ ​ 4,844 ​ ​ 236 ​ ​ 6,328 ​ ​ 94 ​ ​ 2,513 ​ ​ 15,361 ​ ​ 29,840 Doubtful ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Subtotal ​ $ 197,997 ​ $ 93,934 ​ $ 67,927 ​ $ 70,600 ​ $ 34,697 ​ $ 17,566 ​ $ 115,600 ​ $ 598,321 Gross charge-offs for the year ended ​ $ 39 ​ $ — ​ $ 49 ​ $ 11 ​ $ 247 ​ $ 90 ​ $ — ​ $ 436 Real estate construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 29,902 ​ $ 57,944 ​ $ 14,326 ​ $ 122 ​ $ — ​ $ 952 ​ $ 121 ​ $ 103,367 Special mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Substandard ​ ​ — ​ 20,667 ​ — ​ — ​ — ​ — ​ ​ — ​ 20,667 Doubtful ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Subtotal ​ $ 29,902 ​ $ 78,611 ​ $ 14,326 ​ $ 122 ​ $ — ​ $ 952 ​ $ 121 ​ $ 124,034 Gross charge-offs for the year ended ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Commercial real estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 272,261 ​ $ 265,549 ​ $ 142,027 ​ $ 153,796 ​ $ 116,861 ​ $ 159,454 ​ $ 7,794 ​ $ 1,117,742 Special mention ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 262 ​ ​ — ​ ​ 262 Substandard ​ ​ — ​ ​ 587 ​ ​ 2,872 ​ ​ — ​ ​ 3,690 ​ ​ 1,759 ​ ​ — ​ 8,908 Doubtful ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Subtotal ​ $ 272,261 ​ $ 266,136 ​ $ 144,899 ​ $ 153,796 ​ $ 120,551 ​ $ 161,475 ​ $ 7,794 ​ $ 1,126,912 Gross charge-offs for the year ended ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Residential real estate first mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 72,180 ​ $ 207,177 ​ $ 218,719 ​ $ 108,100 ​ $ 33,102 ​ $ 87,212 ​ $ 284 ​ $ 726,774 Non-performing ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 105 ​ ​ — ​ ​ 105 Subtotal ​ $ 72,180 ​ $ 207,177 ​ $ 218,719 ​ $ 108,100 ​ $ 33,102 ​ $ 87,317 ​ $ 284 ​ $ 726,879 Gross charge-offs for the year ended ​ $ — ​ $ — ​ $ 9 ​ $ — ​ $ — ​ $ 40 ​ $ — ​ $ 49 Residential real estate junior lien ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 18,408 ​ $ 15,655 ​ $ 5,946 ​ $ 4,857 ​ $ 1,769 ​ $ 5,280 ​ $ 100,438 ​ $ 152,353 Non-performing ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1,781 ​ ​ 1,781 Subtotal ​ $ 18,408 ​ $ 15,655 ​ $ 5,946 ​ $ 4,857 ​ $ 1,769 ​ $ 5,280 ​ $ 102,219 ​ $ 154,134 Gross charge-offs for the year ended ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 77 ​ $ — ​ $ 77 Other revolving and installment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performing ​ $ 5,320 ​ $ 6,395 ​ $ 980 ​ $ 4,489 ​ $ 1,554 ​ $ 952 ​ $ 9,613 ​ $ 29,303 Non-performing ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Subtotal ​ $ 5,320 ​ $ 6,395 ​ $ 980 ​ $ 4,489 ​ $ 1,554 ​ $ 952 ​ $ 9,613 ​ $ 29,303 Gross charge-offs for the year ended ​ $ 4 ​ $ 2 ​ $ — ​ $ 31 ​ $ 6 ​ $ 8 ​ $ — ​ $ 51 Total loans ​ $ 596,068 ​ $ 667,908 ​ $ 452,797 ​ $ 341,964 ​ $ 191,673 ​ $ 273,542 ​ $ 235,631 ​ $ 2,759,583 Gross charge-offs for the year ended ​ $ 43 ​ $ 2 ​ $ 58 ​ $ 42 ​ $ 253 ​ $ 215 ​ $ — ​ $ 613 ​ The following table sets forth the risk category of loans by class and credit quality indicator used on the most recent analysis performed as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Criticized ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) Pass Mention Substandard Doubtful Total Commercial ​ ​ ​ ​ ​ Commercial and industrial ​ $ 558,694 ​ $ 21,969 ​ $ 3,213 ​ $ — ​ $ 583,876 Real estate construction ​ 97,548 ​ — ​ 262 ​ — ​ 97,810 Commercial real estate ​ 873,270 ​ — ​ 8,400 ​ — ​ 881,670 Total commercial ​ ​ 1,529,512 ​ ​ 21,969 ​ ​ 11,875 ​ ​ — ​ ​ 1,563,356 Consumer ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 678,743 ​ 63 ​ 745 ​ — ​ 679,551 Residential real estate junior lien ​ 149,847 ​ — ​ 632 ​ — ​ 150,479 Other revolving and installment ​ 50,607 ​ — ​ 1 ​ — ​ 50,608 Total consumer ​ 879,197 ​ 63 ​ 1,378 ​ — ​ 880,638 Total loans ​ $ 2,408,709 ​ $ 22,032 ​ $ 13,253 ​ $ — ​ $ 2,443,994
Schedule of past due aging analysis of the loan portfolio	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ ​ ​ Accruing ​ 30 - 59 Days ​ 60 - 89 Days ​ or More ​ ​ ​ ​ Total (dollars in thousands) Current Past Due Past Due Past Due Nonaccrual Loans Commercial ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 590,663 ​ $ 924 ​ $ — ​ $ 139 ​ $ 6,595 ​ $ 598,321 Real estate construction ​ 124,034 ​ — ​ — ​ — ​ — ​ 124,034 Commercial real estate ​ 1,125,669 ​ 128 ​ — ​ — ​ 1,115 ​ 1,126,912 Total commercial ​ 1,840,366 ​ 1,052 ​ — ​ 139 ​ 7,710 ​ 1,849,267 Consumer ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 724,786 ​ 901 ​ 554 ​ — ​ ​ 638 ​ 726,879 Residential real estate junior lien ​ 153,220 ​ 666 ​ — ​ — ​ 248 ​ 154,134 Other revolving and installment ​ 29,086 ​ 170 ​ 47 ​ — ​ — ​ 29,303 Total consumer ​ 907,092 ​ 1,737 ​ 601 ​ — ​ 886 ​ 910,316 Total loans ​ $ 2,747,458 ​ $ 2,789 ​ $ 601 ​ $ 139 ​ $ 8,596 ​ $ 2,759,583 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ ​ ​ ​ ​ ​ ​ Accruing ​ 30 - 59 Days ​ 60 - 89 Days ​ or More ​ ​ ​ ​ Total (dollars in thousands) Current Past Due Past Due Past Due Nonaccrual Loans Commercial ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 580,288 ​ $ 2,332 ​ $ 94 ​ $ — ​ $ 1,162 ​ $ 583,876 Real estate construction ​ 97,370 ​ — ​ — ​ — ​ 440 ​ 97,810 Commercial real estate ​ 879,830 ​ 368 ​ — ​ — ​ 1,472 ​ 881,670 Total commercial ​ 1,557,488 ​ 2,700 ​ 94 ​ — ​ 3,074 ​ 1,563,356 Consumer ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 677,471 ​ 1,234 ​ 311 ​ — ​ 535 ​ 679,551 Residential real estate junior lien ​ 149,918 ​ 377 ​ — ​ — ​ 184 ​ 150,479 Other revolving and installment ​ 50,360 ​ 237 ​ 10 ​ — ​ 1 ​ 50,608 Total consumer ​ 877,749 ​ 1,848 ​ 321 ​ — ​ 720 ​ 880,638 Total loans ​ $ 2,435,237 ​ $ 4,548 ​ $ 415 ​ $ — ​ $ 3,794 ​ $ 2,443,994
Schedule of amortized cost basis on nonaccrual status loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2023 ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ Nonaccrual ​ ​ ​ ​ or More ​ ​ with no Allowance ​ ​ ​ ​ Past Due (dollars in thousands) ​ for Credit Losses ​ Nonaccrual ​ and Accruing Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 79 ​ $ 6,595 ​ $ 139 Real estate construction ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ ​ 95 ​ ​ 1,115 ​ ​ — Total commercial ​ ​ 174 ​ ​ 7,710 ​ ​ 139 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ ​ 632 ​ ​ 638 ​ ​ — Residential real estate junior lien ​ ​ 185 ​ ​ 248 ​ ​ — Other revolving and installment ​ ​ — ​ ​ — ​ ​ — Total consumer ​ ​ 817 ​ ​ 886 ​ ​ — Total loans ​ $ 991 ​ $ 8,596 ​ $ 139 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ 90 Days ​ ​ Nonaccrual ​ ​ ​ ​ or More ​ ​ with no Allowance ​ ​ ​ ​ Past Due (dollars in thousands) ​ for Credit Losses ​ Nonaccrual ​ and Accruing Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 638 ​ $ 1,162 ​ $ — Real estate construction ​ ​ — ​ ​ 440 ​ ​ — Commercial real estate ​ ​ 576 ​ ​ 1,472 ​ ​ — Total commercial ​ ​ 1,214 ​ ​ 3,074 ​ ​ — Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ ​ 535 ​ ​ 535 ​ ​ — Residential real estate junior lien ​ ​ 184 ​ ​ 184 ​ ​ — Other revolving and installment ​ ​ 1 ​ ​ 1 ​ ​ — Total consumer ​ ​ 720 ​ ​ 720 ​ ​ — Total loans ​ $ 1,934 ​ $ 3,794 ​ $ —
Schedule of financing receivables collateral dependent loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2023 ​ ​ Primary Type of Collateral ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for (dollars in thousands) ​ Real estate ​ Equipment ​ Other ​ Total ​ Credit Losses Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 6,124 ​ $ — ​ $ — ​ $ 6,124 ​ $ 2,384 Commercial real estate ​ ​ 695 ​ ​ — ​ ​ 96 ​ ​ 791 ​ ​ 601 Total commercial ​ ​ 6,819 ​ ​ — ​ ​ 96 ​ ​ 6,915 ​ ​ 2,985 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ ​ 638 ​ ​ — ​ ​ — ​ ​ 638 ​ ​ 3 Residential real estate junior lien ​ ​ 134 ​ ​ 22 ​ ​ 93 ​ ​ 249 ​ ​ 6 Total consumer ​ ​ 772 ​ ​ 22 ​ ​ 93 ​ ​ 887 ​ ​ 9 Total loans ​ $ 7,591 ​ $ 22 ​ $ 189 ​ $ 7,802 ​ $ 2,994
Schedule of recorded investment and related allowance for loan losses on loans by portfolio segment methodology	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Recorded Investment ​ Allowance for Loan Losses ​ ​ Individually ​ Collectively ​ ​ ​ ​ Individually ​ Collectively ​ ​ ​ (dollars in thousands) Evaluated Evaluated Total Evaluated Evaluated Total Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 1,313 ​ $ 582,563 ​ $ 583,876 ​ $ 275 ​ $ 8,958 ​ $ 9,233 Real estate construction ​ 262 ​ 97,548 ​ 97,810 ​ ​ 97 ​ ​ 1,340 ​ ​ 1,437 Commercial real estate ​ 1,472 ​ 880,198 ​ 881,670 ​ ​ 582 ​ ​ 12,179 ​ ​ 12,761 Total commercial ​ 3,047 ​ 1,560,309 ​ 1,563,356 ​ ​ 954 ​ ​ 22,477 ​ ​ 23,431 Consumer ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential real estate first mortgage ​ 535 ​ 679,016 ​ 679,551 ​ ​ — ​ ​ 5,857 ​ ​ 5,857 Residential real estate junior lien ​ 184 ​ ​ 150,295 ​ 150,479 ​ ​ — ​ ​ 1,318 ​ ​ 1,318 Other revolving and installment ​ 1 ​ 50,607 ​ 50,608 ​ ​ — ​ ​ 540 ​ ​ 540 Total consumer ​ 720 ​ 879,918 ​ 880,638 ​ ​ — ​ ​ 7,715 ​ ​ 7,715 Total loans ​ $ 3,767 ​ $ 2,440,227 ​ $ 2,443,994 ​ $ 954 ​ $ 30,192 ​ $ 31,146
Schedule of impaired loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Recorded ​ Unpaid ​ Related (dollars in thousands) Investment Principal Allowance Impaired loans with a valuation allowance ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 675 ​ $ 711 ​ $ 275 Real estate construction ​ ​ 262 ​ ​ 440 ​ ​ 97 Commercial real estate ​ 896 ​ 900 ​ 582 Residential real estate first mortgage ​ ​ — ​ ​ — ​ ​ — Total impaired loans with a valuation allowance ​ ​ 1,833 ​ ​ 2,051 ​ ​ 954 Impaired loans without a valuation allowance ​ ​ ​ Commercial and industrial ​ ​ 638 ​ ​ 767 ​ ​ — Real estate construction ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ ​ 576 ​ 660 ​ — Residential real estate first mortgage ​ ​ 535 ​ 573 ​ — Residential real estate junior lien ​ ​ 184 ​ 218 ​ — Other revolving and installment ​ ​ 1 ​ 1 ​ — Total impaired loans without a valuation allowance ​ ​ 1,934 ​ ​ 2,219 ​ ​ — Total impaired loans ​ ​ ​ ​ Commercial and industrial ​ ​ 1,313 ​ ​ 1,478 ​ ​ 275 Real estate construction ​ ​ 262 ​ ​ 440 ​ ​ 97 Commercial real estate ​ 1,472 ​ 1,560 ​ 582 Residential real estate first mortgage ​ ​ 535 ​ ​ 573 ​ ​ — Residential real estate junior lien ​ 184 ​ 218 ​ — Other revolving and installment ​ 1 ​ 1 ​ — Total impaired loans ​ $ 3,767 ​ $ 4,270 ​ $ 954 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2022 ​ 2021 ​ ​ Average ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Recorded ​ Interest ​ Recorded ​ Interest (dollars in thousands) Investment Income Investment Income Impaired loans with a valuation allowance ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 722 ​ $ 13 ​ $ 517 ​ $ 13 Real estate construction ​ ​ 442 ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ 935 ​ — ​ ​ 187 ​ 7 Residential real estate first mortgage ​ ​ — ​ ​ — ​ ​ — ​ ​ ​ Residential real estate junior lien ​ — ​ — ​ ​ — ​ — Other revolving and installment ​ — ​ — ​ ​ — ​ — Total impaired loans with a valuation allowance ​ ​ 2,099 ​ ​ 13 ​ ​ 704 ​ ​ 20 Impaired loans without a valuation allowance ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 707 ​ ​ — ​ ​ 1,988 ​ ​ 20 Real estate construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ 618 ​ — ​ ​ 672 ​ — Residential real estate first mortgage ​ 575 ​ — ​ ​ 23 ​ — Residential real estate junior lien ​ 191 ​ ​ — ​ ​ 98 ​ ​ — Other revolving and installment ​ 1 ​ — ​ ​ 1 ​ — Total impaired loans without a valuation allowance ​ ​ 2,092 ​ ​ — ​ ​ 2,782 ​ ​ 20 Total impaired loans ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 1,429 ​ ​ 13 ​ ​ 2,505 ​ ​ 33 Real estate construction ​ ​ 442 ​ ​ — ​ ​ — ​ ​ — Commercial real estate ​ 1,553 ​ — ​ ​ 859 ​ 7 Residential real estate first mortgage ​ 575 ​ — ​ ​ 23 ​ — Residential real estate junior lien ​ 191 ​ — ​ ​ 98 ​ — Other revolving and installment ​ 1 ​ — ​ ​ 1 ​ — Total impaired loans ​ $ 4,191 ​ $ 13 ​ $ 3,486 ​ $ 40 ​

Land, Premises and Equipment,_2

Land, Premises and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Land, Premises and Equipment, Net
Schedule of Components of land, premises and equipment, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Land ​ $ 4,542 ​ $ 4,542 Buildings and improvements ​ 28,172 ​ 26,625 Leasehold improvements ​ ​ 2,657 ​ ​ 2,657 Furniture, fixtures, and equipment ​ 34,086 ​ 36,013 ​ ​ 69,457 ​ 69,837 Less accumulated depreciation ​ (51,517) ​ (52,549) Total ​ $ 17,940 ​ $ 17,288

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Other Intangible Assets
Schedule of goodwill by segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Banking ​ $ 35,260 ​ $ 35,260 Retirement and benefit services ​ ​ 11,523 ​ ​ 11,827 Total goodwill ​ $ 46,783 ​ $ 47,087
Schedule of identifiable intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 (dollars in thousands) Gross Carrying Amount Accumulated Amortization Total Gross Carrying Amount Accumulated Amortization Total Identifiable customer intangibles ​ $ 41,423 ​ $ (29,959) ​ $ 11,464 ​ $ 41,423 ​ $ (25,927) ​ $ 15,496 Core deposit intangible assets ​ ​ 7,592 ​ ​ (1,898) ​ ​ 5,694 ​ ​ 7,592 ​ ​ (633) ​ ​ 6,959 Total intangible assets ​ $ 49,015 ​ $ (31,857) ​ $ 17,158 ​ $ 49,015 ​ $ (26,560) ​ $ 22,455
Schedule of amortization expense	​ ​ ​ ​ ​ (dollars in thousands) Amount 2024 ​ $ 5,043 2025 ​ ​ 3,904 2026 ​ ​ 2,275 2027 ​ ​ 2,275 2028 ​ ​ 1,642 Thereafter ​ ​ 2,019 Total ​ $ 17,158 ​

Loan Servicing (Tables)

Loan Servicing (Tables)	12 Months Ended
	Dec. 31, 2023
Loan Servicing
Summary of activity related to loan servicing	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2023 2022 2021 Servicing Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of year ​ $ 2,643 ​ $ 1,880 ​ $ 1,987 Additions (1) ​ 300 ​ 1,538 ​ ​ 1,553 Amortization (2) ​ (595) ​ (524) ​ ​ (745) Balance at end of year ​ ​ 2,348 ​ ​ 2,894 ​ ​ 2,795 Less valuation reserve (3) ​ (296) ​ (251) ​ ​ (915) Balance at end of year, net of valuation reserve ​ $ 2,052 ​ $ 2,643 ​ $ 1,880 Fair value, beginning of year ​ $ 2,314 ​ $ 1,892 ​ $ 2,137 Fair value, end of year ​ $ 2,062 ​ $ 2,314 ​ $ 1,892 (1) Associated income was reported within mortgage banking income, net on the consolidated statements of income. (2) Associated amortization expense was reported within other noninterest income on the consolidated statements of income. (3) Associated valuation reserve was reported within mortgage and lending expenses on the consolidated statements of income.
Summary of key economic assumptions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, (dollars in thousands) ​ 2023 ​ 2022 ​ Fair value of servicing rights ​ $ 2,052 ​ $ 2,643 ​ Weighted-average remaining term, years ​ 18.8 ​ 20.5 ​ Prepayment speeds ​ 6.2 % 6.9 % Discount rate ​ 11.1 % 10.5 % ​

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases
Schedule of right-of-use assets and lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, (dollars in thousands) ​ 2023 2022 Lease Right-of-Use Assets ​ Classification ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets Operating lease right-of-use assets ​ $ 5,436 ​ $ 5,419 Lease Liabilities ​ ​ ​ Operating lease liabilities Operating lease liabilities ​ $ 5,751 ​ $ 5,902
Schedule of weighted average remaining lease term and average discount rate	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2023 2022 ​ Weighted-average remaining lease term, years ​ ​ ​ ​ ​ Operating leases 7.3 ​ 5.0 ​ Weighted-average discount rate ​ ​ ​ Operating leases 3.9 % 3.1 %
Schedule of lease costs and other lease information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2023 ​ 2022 ​ 2021 Lease costs ​ ​ ​ ​ ​ ​ ​ Operating lease cost ​ $ 1,914 ​ $ 1,799 ​ $ 1,827 Variable lease cost ​ 1,159 ​ 899 ​ 823 Short-term lease cost ​ 167 ​ 217 ​ 181 Finance lease cost ​ ​ ​ Interest on lease liabilities ​ — ​ 7 ​ 25 Amortization of right-of-use assets ​ — ​ 87 ​ 116 Sublease income ​ (219) ​ (238) ​ (228) Net lease cost ​ $ 3,021 ​ $ 2,771 ​ $ 2,744 Other information ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities operating cash flows from operating leases ​ $ 1,755 ​ $ 1,706 ​ $ 1,763 Right-of-use assets obtained in exchange for new operating lease liabilities ​ ​ 1,868 ​ ​ 4,266 ​ $ 267
Schedule of future minimum payments for leases	​ ​ ​ ​ ​ ​ ​ Operating (dollars in thousands) Leases Year ended ​ ​ ​ December 31, 2024 ​ $ 1,626 December 31, 2025 ​ 1,243 December 31, 2026 ​ 1,064 December 31, 2027 ​ 516 December 31, 2028 ​ 311 Thereafter ​ 1,831 Total future minimum lease payments ​ $ 6,591 Amounts representing interest ​ (840) Total operating lease liabilities ​ $ 5,751 ​

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Other Assets
Schedule of other assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Federal Reserve Bank stock ​ $ 4,623 ​ $ 4,595 Foreclosed assets ​ 32 ​ 30 Prepaid expenses ​ 5,766 ​ 6,770 Investments in partnerships ​ 14 ​ 14 Trust fees accrued/receivable ​ 13,510 ​ 14,684 Income tax refund receivable ​ 11,561 ​ 2,856 Federal Home Loan Bank stock ​ 16,566 ​ 19,362 Derivative instruments ​ ​ 8,943 ​ ​ 6,333 Tax credit investments ​ ​ 16,512 ​ ​ 17,642 Other assets ​ 5,905 ​ 3,426 Total ​ $ 83,432 ​ $ 75,712 ​

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2023
Deposits.
Schedule of components of deposits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Noninterest-bearing ​ $ 728,082 ​ $ 860,987 Interest-bearing ​ ​ Interest-bearing demand ​ 840,711 ​ 706,275 Savings accounts ​ 82,485 ​ 99,882 Money market savings ​ 1,032,771 ​ 1,035,981 Time deposits ​ 411,562 ​ 212,359 Total interest-bearing ​ 2,367,529 ​ 2,054,497 Total deposits ​ $ 3,095,611 ​ $ 2,915,484
Scheduled maturities of certificate of deposits	​ ​ ​ ​ ​ (dollars in thousands) Amount 2024 ​ $ 386,419 2025 ​ 11,536 2026 ​ 6,775 2027 ​ 1,856 2028 ​ 688 Thereafter ​ 4,288 Total ​ $ 411,562 ​

Short-Term Borrowings (Tables)

Short-Term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2023
Short-Term Borrowings
Schedule of short-term borrowings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ ​ December 31, ​ (dollars in thousands) 2023 2022 2021 ​ Fed funds purchased ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of end of period ​ $ 114,170 ​ $ 153,080 ​ $ — ​ Average daily balance ​ ​ 287,768 ​ ​ 63,296 ​ ​ 3 ​ Maximum month-end balance ​ ​ 492,060 ​ ​ 251,880 ​ ​ — ​ Weighted-average rate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During period ​ ​ 5.31 % ​ 2.46 % ​ — % End of period ​ ​ 5.51 % ​ 4.26 % ​ — % FHLB short-term advances ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of end of period ​ $ 200,000 ​ $ 225,000 ​ $ — ​ Average daily balance ​ ​ 113,973 ​ ​ 89,932 ​ ​ — ​ Maximum month-end balance ​ ​ 200,000 ​ ​ 225,000 ​ ​ — ​ Weighted-average rate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ During period ​ ​ 5.39 % ​ 3.10 % ​ — % End of period ​ ​ 5.50 % ​ 4.31 % ​ — %

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Long-Term Debt.
Schedule of long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Period End ​ ​ ​ ​ ​ ​ Face ​ Carrying ​ ​ ​ Interest ​ Maturity ​ ​ (dollars in thousands) Value Value Interest Rate Rate Date Call Date Subordinated notes payable ​ $ 50,000 ​ $ 50,000 ​ Fixed ​ 3.50 % 3/30/2031 ​ 3/31/2026 Junior subordinated debenture (Trust I) ​ ​ 4,124 ​ ​ 3,583 Three-month CME SOFR + 0.26% + 3.10% ​ 8.72 % 6/26/2033 6/26/2008 Junior subordinated debenture (Trust II) ​ 6,186 ​ 5,373 Three-month CME SOFR + 0.26% + 1.80% ​ 7.45 % 9/15/2036 9/15/2011 Total long-term debt ​ $ 60,310 ​ $ 58,956 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Period End ​ ​ ​ ​ ​ ​ Face ​ Carrying ​ ​ ​ Interest ​ Maturity ​ ​ (dollars in thousands) Value Value Interest Rate Rate Date Call Date Subordinated notes payable ​ $ 50,000 ​ $ 50,000 Fixed 3.50 % 3/30/2031 3/31/2026 Junior subordinated debenture (Trust I) ​ 4,124 ​ 3,537 Three-month LIBOR + 3.10% ​ 7.82 % 6/26/2033 6/26/2008 Junior subordinated debenture (Trust II) ​ 6,186 ​ 5,306 Three-month LIBOR + 1.80% ​ 6.57 % 9/15/2036 9/15/2011 Total long-term debt ​ $ 60,310 ​ $ 58,843 ​

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies
Schedule of the contractual amounts of the Company's exposure to off-balance sheet risk	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Commitments to extend credit ​ $ 942,413 ​ $ 806,431 Standby letters of credit ​ 10,045 ​ 13,089 Total ​ $ 952,458 ​ $ 819,520

Share-Based Compensation Plan (

Share-Based Compensation Plan (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Compensation Plan
Schedule of stock plan activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ ​ ​ Weighted- ​ ​ ​ Weighted- ​ ​ ​ Average Grant ​ ​ ​ Average Grant ​ Awards Date Fair Value Awards Date Fair Value Restricted Stock and Restricted Stock Unit Awards ​ ​ ​ ​ ​ ​ ​ Outstanding at beginning of period 238,486 $ 23.65 ​ 260,850 $ 21.04 Granted 117,706 ​ 19.95 ​ 102,265 ​ 25.44 Vested (98,138) ​ 21.44 ​ (113,562) ​ 19.25 Forfeited or cancelled (26,397) ​ 21.33 ​ (11,067) ​ 23.90 Outstanding at end of period ​ 231,657 ​ $ 22.96 ​ 238,486 ​ $ 23.65

Employee Benefits (Tables)

Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2023
Employee Benefits
Schedule of retirement plan contributions under employee benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 2021 Salary reduction plan ​ $ 2,933 ​ $ 3,148 ​ $ 3,123 ESOP ​ 1,604 ​ 1,932 ​ 2,014 Total ​ $ 4,537 ​ $ 5,080 ​ $ 5,137 Total ESOP shares outstanding ​ 1,152,017 ​ 1,111,424 ​ 1,207,952 ​

Noninterest Income (Tables)

Noninterest Income (Tables)	12 Months Ended
	Dec. 31, 2023
Noninterest Income
Schedule of noninterest income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2023 2022 2021 Retirement and benefits ​ $ 65,294 ​ $ 67,135 ​ $ 71,709 Wealth management ​ 21,855 ​ 20,870 ​ ​ 21,052 Mortgage banking (1) ​ 8,411 ​ 16,921 ​ ​ 48,502 Service charges on deposit accounts ​ 1,280 ​ 1,434 ​ ​ 1,395 Net gains (losses) on investment securities (1) ​ (24,643) ​ — ​ ​ 125 Other ​ ​ ​ ​ Interchange fees ​ 2,222 ​ 2,246 ​ ​ 2,180 Bank-owned life insurance income (1) ​ 877 ​ 836 ​ ​ 793 Misc. transactional fees ​ 1,433 ​ 1,429 ​ ​ 1,218 Other noninterest income ​ 3,500 ​ 352 ​ ​ 413 Total noninterest income ​ $ 80,229 ​ $ 111,223 ​ $ 147,387 (1) Not within the scope of ASC 606.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Taxes
Schedule of components of income tax expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars in thousands) 2023 2022 2021 Federal ​ ​ ​ Current ​ $ 851 ​ $ 9,005 ​ $ 10,731 Deferred ​ 1,151 ​ 727 ​ 2,212 Federal income tax ​ 2,002 ​ 9,732 ​ 12,943 State ​ ​ ​ Current ​ 2,415 ​ 2,298 ​ 2,879 Deferred ​ (259) ​ 147 ​ 574 State income tax ​ 2,156 ​ 2,445 ​ 3,453 Total income tax expense ​ $ 4,158 ​ $ 12,177 ​ $ 16,396
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Deferred Tax Assets ​ ​ Allowance for credit losses ​ $ 9,002 ​ $ 7,818 Employee compensation and benefit accruals ​ 2,253 ​ 2,455 Expense accruals ​ 327 ​ 417 Identifiable intangible amortization ​ 2,176 ​ 3,363 Deferred loan fees ​ 931 ​ 1,665 Net operating loss carry forwards ​ — ​ 3 Nonaccrual loan interest ​ 143 ​ 74 Unrealized loss on available‑for‑sale investment securities ​ 24,548 ​ 33,056 Unrealized loss on derivative and hedge instruments ​ ​ 135 ​ ​ — Unfunded commitment liability ​ ​ 1,913 ​ ​ 814 Operating lease liabilities ​ ​ 1,486 ​ ​ — Other ​ 129 ​ 70 Total deferred tax assets from temporary differences ​ 43,043 ​ 49,735 Deferred Tax Liabilities ​ ​ Accumulated depreciation ​ 737 ​ 835 Goodwill and intangible amortization ​ 3,840 ​ 5,115 Servicing assets ​ 530 ​ 663 Prepaid expenses ​ 1,188 ​ 552 Operating lease right-of-use assets ​ ​ 1,539 ​ ​ — Other ​ 614 ​ 201 Total deferred tax liabilities from temporary differences ​ 8,448 ​ 7,366 Net Deferred Tax Assets ​ $ 34,595 ​ $ 42,369
Schedule of effective income tax rate reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ ​ 2023 ​ ​ 2022 ​ 2021 ​ ​ ​ ​ Percent of ​ ​ Percent of ​ ​ Percent of (dollars in thousands) ​ Amount ​ Pretax Income ​ Amount ​ Pretax Income Amount ​ Pretax Income Taxes at statutory federal income tax rate ​ $ 3,329 21.0 % ​ $ 10,958 21.0 % $ 14,506 21.0 % Tax effect of: ​ ​ ​ ​ ​ ​ Tax exempt income ​ (715) (4.5) % ​ (514) (1.0) % (556) (0.8) % State income taxes, net of federal benefits ​ 715 4.5 % ​ 2,297 4.4 ​ 2,973 4.3 % Nondeductible items and other ​ ​ 829 ​ 5.2 % ​ ​ (564) ​ (1.1) ​ ​ (527) ​ (0.8) % Applicable income taxes ​ $ 4,158 26.2 % ​ $ 12,177 23.3 % $ 16,396 23.7 %

Tax Credit Investments (Tables)

Tax Credit Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Tax Credit Investments.
Schedule of tax credits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 (dollars in thousands) ​ ​ Investment ​ Unfunded Commitment ​ Investment ​ Unfunded Commitment Investment ​ Accounting Method ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Low income housing tax credit Proportional amortization ​ $ 17,906 $ 12,347 $ 17,906 $ 15,559 Total ​ ​ $ 17,906 $ 12,347 $ 17,906 $ 15,559
Summary of amortization expense and tax benefit	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ 2023 ​ 2022 ​ ​ Amortization ​ Tax Benefit ​ Amortization ​ Tax Benefit (dollars in thousands) ​ Expense (1) ​ Recognized (2) ​ Expense (1) ​ Recognized (2) Low income housing tax credit ​ $ 1,130 $ (1,418) $ 264 $ (373) Total ​ $ 1,130 ​ $ (1,418) ​ $ 264 ​ $ (373) (1) The amortization expense for low income housing tax credits were included in income tax expense. (2) All of the tax benefits recognized were included in income tax expense.

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting
Schedule of key metrics related to segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2023 ​ ​ ​ ​ ​ Retirement and ​ Wealth ​ ​ ​ ​ Corporate ​ ​ ​ (dollars in thousands) Banking Benefit Services Management Mortgage Administration Consolidated Net interest income (loss) ​ $ 89,693 ​ $ — ​ $ — ​ $ 827 ​ $ (2,681) ​ $ 87,839 Provision for credit losses ​ ​ 2,057 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 2,057 Noninterest income (loss) ​ ​ (15,428) ​ ​ 65,294 ​ ​ 21,855 ​ ​ 8,411 ​ ​ 97 ​ ​ 80,229 Noninterest expense ​ ​ 61,023 ​ 53,307 ​ 13,477 ​ 14,606 ​ ​ 7,744 ​ ​ 150,157 Net income (loss) before taxes ​ $ 11,185 ​ $ 11,987 ​ $ 8,378 ​ $ (5,368) ​ $ (10,328) ​ $ 15,854 Total assets $ 3,821,989 ​ $ 34,352 ​ $ 4,757 ​ $ 11,736 ​ $ 34,879 ​ $ 3,907,713 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ ​ ​ ​ ​ Retirement and ​ Wealth ​ ​ ​ ​ Corporate ​ ​ ​ (dollars in thousands) Banking Benefit Services Management Mortgage Administration Consolidated Net interest income (loss) ​ $ 100,190 ​ $ — ​ $ — ​ $ 1,879 ​ $ (2,340) ​ $ 99,729 Provision for credit losses ​ — ​ ​ — ​ ​ — ​ ​ — ​ — ​ — Noninterest income ​ 6,199 ​ ​ 67,135 ​ ​ 20,870 ​ ​ 16,921 ​ 98 ​ 111,223 Noninterest expense ​ 62,789 ​ 55,178 ​ 11,876 ​ 21,272 ​ 7,655 ​ 158,770 Net income (loss) before taxes ​ $ 43,600 ​ $ 11,957 ​ $ 8,994 ​ $ (2,472) ​ $ (9,897) ​ $ 52,182 Total assets $ 3,697,608 ​ $ 40,821 ​ $ 4,032 ​ $ 10,620 ​ $ 26,556 ​ $ 3,779,637 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ ​ ​ ​ ​ Retirement and ​ Wealth ​ ​ ​ ​ Corporate ​ ​ ​ (dollars in thousands) Banking Benefit Services Management Mortgage Administration Consolidated Net interest income ​ $ 87,014 ​ $ — ​ $ — ​ $ 1,981 ​ $ (1,896) ​ $ 87,099 Provision for loan losses ​ (3,500) ​ — ​ — ​ — ​ — ​ (3,500) Noninterest income ​ 6,091 ​ 71,709 ​ 21,052 ​ 48,502 ​ 33 ​ 147,387 Noninterest expense ​ 53,121 ​ 55,802 ​ 11,571 ​ 39,518 ​ 8,897 ​ 168,909 Net income before taxes ​ $ 43,484 ​ $ 15,907 ​ $ 9,481 ​ $ 10,965 ​ $ (10,760) ​ $ 69,077 Total assets $ 3,254,979 ​ $ 44,953 ​ $ 3,644 ​ $ 75,713 ​ $ 13,402 ​ $ 3,392,691

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share
Schedule of basic and diluted earnings per share	The calculation of basic and diluted earnings per share using the two-class method for the years ending December 31, 2023, 2022, and 2021 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 31, (dollars and shares in thousands, except per share data) 2023 2022 ​ 2021 Net income ​ $ 11,696 ​ $ 40,005 ​ $ 52,681 Dividends and undistributed earnings allocated to participating securities ​ ​ (5) ​ ​ 416 ​ ​ 802 Net income available to common stockholders ​ $ 11,701 ​ $ 39,589 ​ $ 51,879 Weighted-average common shares outstanding for basic earnings per share ​ ​ 19,922 ​ 18,640 ​ 17,189 Dilutive effect of stock-based awards ​ 221 ​ 244 ​ 297 Weighted-average common shares outstanding for diluted earnings per share ​ ​ 20,143 ​ ​ 18,884 ​ ​ 17,486 Earnings per common share: ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share ​ $ 0.59 ​ $ 2.12 ​ $ 3.02 Diluted earnings per common share ​ $ 0.58 ​ $ 2.10 ​ $ 2.97 ​

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions
Schedule of related party transactions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (dollars in thousands) 2023 2022 Beginning balance ​ $ 130 ​ $ 34 New loans and advances ​ ​ 1,313 ​ ​ 145 Repayments ​ ​ (665) ​ ​ (95) Changes to related parties (1) ​ ​ 257 ​ ​ 46 Ending balance ​ $ 1,035 ​ $ 130 (1) Represents changes related to directors that were added to the Board during the year. ​

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments
Schedule of total notional amounts and gross fair values of the Company's derivatives	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ December 31, 2022 ​ ​ ​ ​ Fair ​ Notional ​ Fair ​ Notional (dollars in thousands) ​ Value Amount Value Amount Designated as hedging instruments: ​ Consolidated Balance Sheet Location ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ Accrued expenses and other liabilities ​ $ 352 ​ $ 600,000 ​ $ — ​ $ — Cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ Accrued expenses and other liabilities ​ ​ 297 ​ ​ 200,000 ​ ​ — ​ ​ — Total derivatives designated as hedging instruments ​ ​ ​ $ 649 ​ $ 800,000 ​ $ — ​ $ — Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset Derivatives ​ ​ ​ ​ ​ Interest rate swaps (1) Other assets ​ $ 8,327 ​ $ 120,671 ​ $ 6,277 ​ $ 43,430 Interest rate lock commitments Other assets ​ ​ 179 ​ ​ 8,126 ​ ​ 121 ​ ​ 10,462 Forward loan sales commitments Other assets ​ 6 ​ 190 ​ 7 ​ 351 Total asset derivatives not designated as hedging instruments ​ $ 8,512 ​ $ 128,987 ​ $ 6,405 ​ $ 54,243 Liability Derivatives ​ ​ ​ ​ Interest rate swaps (1) Accrued expenses and other liabilities ​ $ 8,348 ​ $ 120,671 ​ $ 6,277 ​ $ 43,430 To-be-announced mortgage backed securities Accrued expenses and other liabilities ​ ​ 183 ​ ​ 20,500 ​ ​ 26 ​ ​ 25,750 Total liability derivatives not designated as hedging instruments ​ $ 8,531 ​ $ 141,171 ​ $ 6,303 ​ $ 69,180 (1) Reported fair values include accrued interest receivable and payable .
Schedule of effective portion of the gains (losses) recognized in other comprehensive income (loss) and the gains (losses) before tax, reclassified from other comprehensive income (loss) into earnings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains (Losses) ​ ​ Gains (Losses) ​ Reclassified ​ ​ Recognized in ​ from OCI (dollars in thousands) ​ OCI ​ into Earnings Derivatives designated as hedging instruments ​ ​ ​ ​ ​ ​ For the year ended December 31, 2023 ​ ​ ​ ​ ​ ​ Cash flow hedges: ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 176 ​ $ 473 ​ ​ The following table shows the effect of fair value and cash flow hedge accounting on derivatives designated as hedging instruments in the Consolidated Statements of Income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Location and Amount of Gains (Losses) Recognized in Income ​ ​ Interest Income ​ Interest Expense ​ ​ Loans, ​ Investment ​ ​ ​ ​ including ​ securities - ​ Short-term (dollars in thousands) fees Taxable borrowings For the year ended December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Total amounts in the Consolidated Statements of Income ​ $ 136,918 ​ $ 24,262 ​ $ 20,976 Fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ ​ 252 ​ ​ 1,881 ​ ​ — Cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ ​ — ​ ​ — ​ ​ (473)
Schedule of notional amount, carrying amount and associated cumulative basis adjustments related to the application of hedge accounting	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Fair ​ ​ ​ ​ ​ ​ ​ ​ Value Hedging ​ ​ ​ ​ ​ ​ ​ ​ Adjustment in the ​ ​ ​ ​ Carrying Amount ​ Carrying Amount of ​ ​ Notional ​ of Hedged Assets/ ​ Hedged Assets/ (dollars in thousands) ​ Amount ​ Liabilities ​ Liabilities Mortgage-backed securities ​ ​ ​ ​ ​ ​ ​ Residential agency (1) ​ $ 200,000 ​ $ 200,241 ​ $ 241 Mortgage loan pools (2) ​ ​ 400,000 ​ ​ 400,098 ​ ​ 98 Total ​ $ 600,000 ​ $ 600,339 ​ $ 339 (1) Includes amounts related to residential agency mortgage-backed securities currently designated as the hedged item in a fair value hedge using the portfolio layer method. At December 31, 2023, the amortized cost of the closed portfolios used in these hedging relationships was $323.4 million. (2) These amounts include the amortized cost basis of residential real estate loans that were used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolio anticipated to be outstanding for the designated hedged period. At December 31, 2023, the amortized cost basis of the residential real estate loans used in these hedging relationships was $687.5 million. ​
Schedule of gain (loss) recognized on derivatives instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) ​ ​ ​ Year ended December 31, Derivatives not designated as hedging instruments Consolidated Statements of Income Location 2023 2022 2021 Interest rate swaps Other noninterest income ​ $ (20) ​ $ 2 ​ $ 1 Interest rate lock commitments Mortgage banking ​ ​ 165 ​ ​ (1,464) ​ ​ (8,660) Forward loan sales commitments Mortgage banking ​ ​ (1) ​ ​ (483) ​ ​ (2,174) To-be-announced mortgage backed securities Mortgage banking ​ 118 ​ 4,916 ​ ​ 5,220 Total gain (loss) from derivatives not designated as hedging instruments ​ ​ $ 262 ​ $ 2,971 ​ $ (5,613)
Schedule of derivative positions and the potential effect of netting arrangements on its financial position	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amount ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Not Offset in the ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consolidated ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance Sheets ​ ​ ​ ​ ​ Gross Amount ​ Gross Amount ​ Net Amount ​ ​ ​ ​ ​ ​ ​ Recognized in the ​ Offset in the ​ Presented in the ​ ​ ​ ​ ​ ​ ​ Consolidated ​ Consolidated ​ Consolidated ​ Cash Collateral ​ ​ ​ (dollars in thousands) ​ Balance Sheets ​ Balance Sheets ​ Balance Sheets ​ Pledged (Received) ​ Net Amount December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps - Company (1) ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Interest rate swaps - dealer bank (1) ​ ​ 8,327 ​ ​ — ​ ​ 8,327 ​ ​ (1,740) ​ ​ 6,587 To-be-announced mortgage backed securities ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ $ 8,327 ​ $ — ​ $ 8,327 ​ $ (1,740) ​ $ 6,587 Derivative liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps - Company (1) ​ $ 649 ​ $ — ​ $ 649 ​ $ 550 ​ $ 99 Interest rate swaps - customer (2) ​ ​ 8,348 ​ ​ — ​ ​ 8,348 ​ ​ — ​ ​ 8,348 To-be-announced mortgage backed securities ​ ​ 183 ​ ​ — ​ ​ 183 ​ ​ — ​ ​ 183 Total ​ $ 9,180 ​ $ — ​ $ 9,180 ​ $ 550 ​ $ 8,630 December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps - Company (1) ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Interest rate swaps - dealer bank (1) ​ ​ 6,277 ​ ​ — ​ ​ 6,277 ​ ​ (6,030) ​ ​ 247 To-be-announced mortgage backed securities ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ $ 6,277 ​ $ — ​ $ 6,277 ​ $ (6,030) ​ $ 247 Derivative liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps - customer (2) ​ $ 6,277 ​ $ — ​ $ 6,277 ​ $ 309 ​ $ 5,968 To-be-announced mortgage backed securities ​ ​ 26 ​ ​ — ​ ​ 26 ​ ​ — ​ ​ 26 Total ​ $ 6,303 ​ $ — ​ $ 6,303 ​ $ 309 ​ $ 5,994 (1) The Company maintains a master netting agreement with each counterparty and settles collateral on a net basis for all interest rate swaps with counterparty banks. (2) The Company manages its net exposure on its customer loan swaps by obtaining collateral as part of the normal loan policy and underwriting practices. The Company does not post collateral to its customers as part of its contract. ​

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2023
Regulatory Matters
Schedule of Bank's actual capital amounts and ratios	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum to be ​ ​ ​ ​ ​ ​ ​ ​ Minimum Required ​ Well Capitalized ​ ​ ​ ​ ​ ​ ​ for Capital ​ Under Prompt ​ ​ Actual ​ Adequacy Purposes ​ Corrective Action (1) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk weighted assets ​ ​ ​ ​ Consolidated (1) ​ $ 382,578 11.82 % $ 145,605 4.50 % $ N/A N/A ​ Bank ​ 367,445 11.40 % 145,101 4.50 % 209,590 6.50 % Tier 1 capital to risk weighted assets ​ ​ . ​ Consolidated (1) ​ 391,534 12.10 % 194,139 6.00 % N/A N/A ​ Bank ​ 367,445 11.40 % 193,468 6.00 % 257,957 8.00 % Total capital to risk weighted assets ​ ​ ​ Consolidated (1) ​ 477,590 14.76 % 258,853 8.00 % N/A N/A ​ Bank ​ 403,501 12.51 % 257,957 8.00 % 322,446 10.00 % Tier 1 capital to average assets ​ ​ ​ Consolidated (1) ​ 391,534 10.57 % 148,111 4.00 % N/A N/A ​ Bank ​ 367,445 9.92 % 148,186 4.00 % 185,232 5.00 % (1) “Minimum to be Well Capitalized Under Prompt Corrective Action” is not formally defined under applicable banking regulations for bank holding companies. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum to be ​ ​ ​ ​ ​ ​ ​ ​ Minimum Required ​ Well Capitalized ​ ​ ​ ​ ​ ​ ​ for Capital ​ Under Prompt ​ ​ Actual ​ Adequacy Purposes ​ Corrective Action (1) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Common equity tier 1 capital to risk weighted assets ​ ​ ​ ​ Consolidated (1) ​ $ 389,335 13.39 % $ 130,862 4.50 % $ N/A N/A ​ Bank ​ 370,749 12.76 % 130,791 4.50 % 188,920 6.50 % Tier 1 capital to risk weighted assets ​ ​ . ​ Consolidated (1) ​ 398,179 13.69 % 174,482 6.00 % N/A N/A ​ Bank ​ 370,749 12.76 % 174,388 6.00 % 232,517 8.00 % Total capital to risk weighted assets ​ ​ ​ Consolidated (1) ​ 479,325 16.48 % 232,643 8.00 % N/A N/A ​ Bank ​ 401,895 13.83 % 232,517 8.00 % 290,646 10.00 % Tier 1 capital to average assets ​ ​ ​ Consolidated (1) ​ 398,179 11.25 % 141,514 4.00 % N/A N/A ​ Bank ​ 370,749 10.48 % 141,440 4.00 % 176,800 5.00 % (1) “Minimum to be Well Capitalized Under Prompt Corrective Action” is not formally defined under applicable banking regulations for bank holding companies.

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2023
Other Comprehensive Income (Loss)
Schedule of reconciliation of the changes in the components of other comprehensive income and loss	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2023 2022 2021 ​ ​ ​ ​ Tax ​ ​ ​ ​ ​ Tax ​ ​ ​ ​ ​ Tax ​ ​ ​ ​ Pre-Tax ​ (Expense) ​ After-Tax ​ Pre-Tax ​ (Expense) ​ After-Tax ​ Pre-Tax ​ (Expense) ​ After-Tax (dollars in thousands) ​ Amount ​ Benefit ​ Amount ​ Amount ​ Benefit ​ Amount ​ Amount ​ Benefit ​ Amount Debt Securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in fair value ​ $ 58,868 ​ $ (14,775) ​ $ 44,093 ​ $ (125,634) ​ $ 31,534 ​ $ (94,100) ​ $ (19,433) ​ $ 4,878 ​ $ (14,555) Less: reclassification adjustment from amortization of securities transferred from AFS to HTM (1) ​ ​ (328) ​ ​ 82 ​ ​ (246) ​ ​ (382) ​ ​ 96 ​ ​ (286) ​ ​ (326) ​ ​ 82 ​ ​ (244) Less: reclassification adjustment for net realized losses (2) ​ ​ (24,643) ​ ​ 6,185 ​ ​ (18,458) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Net change ​ ​ 33,897 ​ ​ (8,508) ​ ​ 25,389 ​ ​ (126,016) ​ ​ 31,630 ​ ​ (94,386) ​ ​ (19,759) ​ ​ 4,960 ​ ​ (14,799) Cash Flow Hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in fair value ​ ​ 176 ​ ​ (59) ​ ​ 117 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Less: reclassified AOCI gain (loss) into interest expense (3) ​ ​ (473) ​ ​ 119 ​ ​ (354) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Net change ​ ​ (297) ​ ​ 60 ​ ​ (237) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Other Derivatives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in fair value ​ ​ (241) ​ ​ 75 ​ ​ (166) ​ ​ — ​ ​ — ​ ​ — ​ ​ (125) ​ ​ 31 ​ ​ (94) Less: reclassified AOCI gain (loss) into interest expense (4) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Net change ​ ​ (241) ​ ​ 75 ​ ​ (166) ​ ​ — ​ ​ — ​ ​ — ​ ​ (125) ​ ​ 31 ​ ​ (94) Other comprehensive income (loss) ​ $ 33,359 ​ $ (8,373) ​ $ 24,986 ​ $ (126,016) ​ $ 31,630 ​ $ (94,386) ​ $ (19,884) ​ $ 4,991 ​ $ (14,893) (1) Reclassified into taxable and/or exempt from federal income taxes interest income on investment securities on the consolidated statements of income. Refer to Note 5 (Investment Securities) for further details. (2) Reclassified into net gains (losses) on investment securities in the consolidated statements of income. Refer to Note 5 (Investment Securities) for further details. (3) Reclassified into interest expense on short-term borrowings on the consolidated statements of income. Refer to Note 25 (Derivative Instruments) for further details. (4) Reclassified into interest income on loans, including fees and/or interest income on taxable investment securities on the consolidated statements of income. Refer to Note 25 (Derivative Instruments) for further details.
Schedule of changes in each component of AOCI	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Unrealized ​ Net Unrealized ​ ​ ​ ​ Net Unrealized ​ Gains (Losses) on ​ Gains (Losses) ​ ​ ​ ​ ​ Gains (Losses) on ​ Cash Flow ​ on Other ​ ​ (dollars in thousands) Debt Securities (1) Hedges (1) Derivatives (1) AOCI (1) Balance at December 31, 2020 ​ $ 10,638 ​ $ — ​ $ — ​ $ 10,638 Other comprehensive income (loss) before reclassifications ​ ​ (14,555) ​ ​ — ​ ​ — ​ ​ (14,555) Less: Amounts reclassified from AOCI ​ ​ (244) ​ ​ — ​ ​ (94) ​ ​ (338) Other comprehensive income (loss) ​ ​ (14,799) ​ ​ — ​ ​ (94) ​ ​ (14,893) Balance at December 31, 2021 ​ ​ (4,161) ​ ​ — ​ ​ (94) ​ ​ (4,255) Other comprehensive income (loss) before reclassifications ​ ​ (94,100) ​ ​ — ​ ​ — ​ ​ (94,100) Less: Amounts reclassified from AOCI ​ ​ (286) ​ ​ — ​ ​ — ​ ​ (286) Other comprehensive income (loss) ​ ​ (94,386) ​ ​ — ​ ​ — ​ ​ (94,386) Balance at December 31, 2022 ​ ​ (98,547) ​ ​ — ​ ​ (94) ​ ​ (98,641) Other comprehensive income (loss) before reclassifications ​ ​ 44,093 ​ ​ 117 ​ ​ (166) ​ ​ 44,044 Less: Amounts reclassified from AOCI ​ ​ (18,704) ​ ​ (354) ​ ​ — ​ ​ (19,058) Other comprehensive income (loss) ​ ​ 25,389 ​ ​ (237) ​ ​ (166) ​ ​ 24,986 Balance at December 31, 2023 ​ $ (73,158) ​ $ (237) ​ $ (260) ​ $ (73,655) (1) All amounts net of tax.

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value of Assets and Liabilities
Summary of balances of the assets and liabilities measured at estimated fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 (dollars in thousands) Level 1 Level 2 Level 3 Total Available-for-sale ​ ​ ​ ​ U.S. treasury and government agencies ​ $ — ​ $ 1,120 ​ $ — ​ $ 1,120 Mortgage backed securities ​ ​ ​ ​ Residential agency ​ — ​ 435,594 ​ — ​ 435,594 Commercial ​ — ​ 1,353 ​ — ​ 1,353 Asset backed securities ​ — ​ 25 ​ — ​ 25 Corporate bonds ​ — ​ 48,644 ​ — ​ 48,644 Total available-for-sale investment securities ​ $ — ​ $ 486,736 ​ $ — ​ $ 486,736 Other assets ​ ​ ​ ​ Derivatives ​ $ — ​ $ 8,512 ​ $ — ​ $ 8,512 Other liabilities ​ ​ ​ ​ Derivatives ​ $ — ​ $ 9,180 ​ $ — ​ $ 9,180 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 (dollars in thousands) Level 1 Level 2 Level 3 Total Available-for-sale ​ ​ ​ ​ U.S. treasury and government agencies ​ $ — ​ $ 3,520 ​ $ — ​ $ 3,520 Mortgage backed securities ​ ​ ​ ​ Residential agency ​ — ​ 587,679 ​ — ​ 587,679 Commercial ​ — ​ 63,558 ​ — ​ 63,558 Asset backed securities ​ — ​ 34 ​ — ​ 34 Corporate bonds ​ — ​ 62,533 ​ — ​ 62,533 Total available-for-sale investment securities ​ $ — ​ $ 717,324 ​ $ — ​ $ 717,324 Other assets ​ ​ ​ ​ Derivatives ​ $ — ​ $ 6,405 ​ $ — ​ $ 6,405 Other liabilities ​ ​ ​ ​ Derivatives ​ $ — ​ $ 6,303 ​ $ — ​ $ 6,303
Schedule of estimated fair value measurements of certain assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 (dollars in thousands) Level 1 Level 2 Level 3 Total Collateral dependent loans ​ $ — ​ $ — ​ $ 3,998 ​ $ 3,998 Foreclosed assets ​ — ​ — ​ 32 ​ 32 Servicing rights ​ — ​ — ​ 2,052 ​ 2,052 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 (dollars in thousands) Level 1 Level 2 Level 3 Total Collateral dependent loans ​ $ — ​ $ — ​ $ 2,813 ​ $ 2,813 Foreclosed assets ​ — ​ — ​ 30 ​ 30 Servicing rights ​ — ​ — ​ 2,643 ​ 2,643
Schedule of valuation techniques and significant unobservable inputs used to measure Level 3 estimated fair values	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ (dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Asset Type Valuation Technique Unobservable Input Fair Value Range Average Individually evaluated Appraisal value Property specific adjustment $ 3,998 10.0 % 10.0 % Foreclosed assets Appraisal value Property specific adjustment (1) 32 N/A N/A Servicing rights Discounted cash flows Prepayment speed assumptions 2,052 85-151 104 ​ Discount rate 11.1 % 11.1 % (1) There were no discounts taken on the collateral that comprises the balance of foreclosed assets as of December 31, 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ (dollars in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Asset Type Valuation Technique Unobservable Input Fair Value Range Average Individually evaluated Appraisal value Property specific adjustment $ 2,813 10.0 % 10.0 % Foreclosed assets Appraisal value Property specific adjustment (1) 30 N/A N/A ​ Servicing rights Discounted cash flows Prepayment speed assumptions 2,643 103-137 115 ​ ​ Discount rate 10.5 % 10.5 % (1) There were no discounts taken on the collateral that comprises the balance of foreclosed assets as of December 31, 2022.
Summary of estimated fair values and related carrying or notional amounts, of the Company's financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ Carrying ​ Estimated Fair Value (dollars in thousands) Amount Level 1 Level 2 Level 3 Total Financial Assets ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 129,893 ​ $ 129,893 ​ $ — ​ $ — ​ $ 129,893 Investment securities held-to-maturity ​ ​ 299,515 ​ ​ — ​ ​ 258,617 ​ ​ — ​ ​ 258,617 Loans, net ​ 2,723,740 ​ — ​ — ​ 2,590,535 ​ 2,590,535 Accrued interest receivable ​ 15,700 ​ 15,700 ​ — ​ — ​ 15,700 Bank-owned life insurance ​ 33,236 ​ — ​ 33,236 ​ — ​ 33,236 Financial Liabilities ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ $ 728,082 ​ $ — ​ $ 728,082 ​ $ — ​ $ 728,082 Interest-bearing deposits ​ 1,955,967 ​ — ​ 1,955,967 ​ — ​ 1,955,967 Time deposits ​ 411,562 ​ — ​ 408,910 ​ — ​ 408,910 Short-term borrowings ​ 314,170 ​ 314,170 ​ — ​ — ​ 314,170 Long-term debt ​ 58,956 ​ — ​ 57,437 ​ — ​ 57,437 Accrued interest payable ​ 6,826 ​ 6,826 ​ — ​ — ​ 6,826 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Carrying ​ Estimated Fair Value (dollars in thousands) Amount Level 1 Level 2 Level 3 Total Financial Assets ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 58,242 ​ $ 58,242 ​ $ — ​ $ — ​ $ 58,242 Investment securities held-to-maturity ​ ​ 321,902 ​ ​ — ​ ​ 270,912 ​ ​ — ​ ​ 270,912 Loans, net ​ 2,412,848 ​ — ​ — ​ 2,311,956 ​ 2,311,956 Accrued interest receivable ​ 12,869 ​ 12,869 ​ — ​ — ​ 12,869 Bank-owned life insurance ​ 33,991 ​ — ​ 33,991 ​ — ​ 33,991 Financial Liabilities ​ ​ ​ ​ ​ Noninterest-bearing deposits ​ $ 860,987 ​ $ — ​ $ 860,987 ​ $ — ​ $ 860,987 Interest-bearing deposits ​ 1,842,138 ​ — ​ 1,842,138 ​ — ​ 1,842,138 Time deposits ​ 212,359 ​ — ​ 208,550 ​ — ​ 208,550 Short-term borrowings ​ 378,080 ​ 378,080 ​ — ​ — ​ 378,080 Long-term debt ​ 58,843 ​ — ​ 56,116 ​ — ​ 56,116 Accrued interest payable ​ 2,426 ​ 2,426 ​ — ​ — ​ 2,426 ​

Parent Company Only Financial_2

Parent Company Only Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2023
Parent Company Only Financial Statements
Schedule of Parent Company Condensed Balance Sheets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, (dollars in thousands) 2023 2022 Assets ​ ​ Cash and cash equivalents ​ $ 70,853 ​ $ 84,017 Investment in subsidiaries ​ 354,303 ​ 338,595 Deferred income taxes, net ​ 757 ​ 904 Other assets ​ 9,968 ​ 487 Total assets ​ $ 435,881 ​ $ 424,003 Liabilities and Stockholders’ Equity ​ ​ Long‑term debt ​ $ 58,956 ​ $ 58,843 Accrued expenses and other liabilities ​ 7,798 ​ 8,288 Total liabilities ​ 66,754 ​ 67,131 Stockholders’ equity ​ 369,127 ​ 356,872 Total stockholders’ equity ​ 369,127 ​ 356,872 Total liabilities and stockholders’ equity ​ $ 435,881 ​ $ 424,003
Schedule of Parent Company Condensed Statements of Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (dollars in thousands) 2023 2022 2021 Income ​ ​ ​ Dividends from subsidiaries ​ $ 21,000 ​ $ 18,500 ​ $ 16,000 Other income ​ 24 ​ 16 ​ 4 Total operating income ​ 21,024 ​ 18,516 ​ 16,004 Expenses ​ 6,043 ​ 6,583 ​ 5,293 Income before equity in undistributed income ​ 14,981 ​ 11,933 ​ 10,711 Equity in undistributed income of subsidiaries ​ (4,826) ​ 26,424 ​ 40,642 Income before income taxes ​ 10,155 ​ 38,357 ​ 51,353 Income tax benefit ​ 1,541 ​ 1,648 ​ 1,328 Net income ​ $ 11,696 ​ $ 40,005 ​ $ 52,681
Schedule of Parent Company Condensed Statements of Cash Flows	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, (dollars in thousands) 2023 2022 2021 Operating activities ​ ​ ​ Net income ​ $ 11,696 ​ $ 40,005 ​ $ 52,681 Adjustments to reconcile net income to net cash provided by operating activities ​ ​ ​ Equity in undistributed income of subsidiaries ​ 4,826 ​ (26,424) ​ (40,642) Depreciation and amortization ​ — ​ 87 ​ 115 Stock‑based compensation cost ​ 1,628 ​ 1,904 ​ 3,095 Other, net ​ (9,854) ​ 419 ​ 1,266 Net cash provided by operating activities ​ 8,296 ​ 15,991 ​ 16,515 Investing activities ​ ​ ​ Net cash (paid) for business combinations ​ — ​ (189) ​ — Net cash provided by investing activities ​ — ​ (189) ​ — Financing activities ​ ​ ​ Cash dividends paid on common stock ​ (14,822) ​ (12,800) ​ (10,751) Repurchase of common stock ​ (6,638) ​ (738) ​ (712) Net cash provided by financing activities ​ (21,460) ​ (13,538) ​ (11,463) Change in cash and cash equivalents ​ (13,164) ​ 2,264 ​ 5,052 Cash and cash equivalents at beginning of period ​ 84,017 ​ 81,753 ​ 76,701 Cash and cash equivalents at end of period ​ $ 70,853 ​ $ 84,017 ​ $ 81,753 ​

Significant Accounting Polici_3

Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Significant Accounting Policies
Number of operating segments | segment	4
Percentage of commercial and industrial loans not secured by real estate	21.70%	23.90%
Allowance for Credit Losses	$ 0	$ 0
Permanent write-offs	0	0	$ 0
Permanent write-offs	$ 0	0	0
Period when accrual of interest on loans is discontinued when loans are past due	90 days
Unrecognized tax position pertaining to interest and penalties	$ 0	0	0
Retained earnings	(272,705,000)	(280,426,000)
Allowance for credit losses on investments	213,000	0
Allowance for credit losses	35,843,000	31,146,000	$ 31,572,000	$ 34,246,000
Off balance sheet liability, Allowance for loan losses	$ 7,400,000	3,200,000
Accounting Standards Update 2016-13 | Cumulative Effect, Period of Adoption, Adjustment
Significant Accounting Policies
Retained earnings		4,500,000
Allowance for credit losses on investments		172,000
Allowance for credit losses		3,857,000
Off balance sheet liability, Allowance for loan losses		$ 1,900,000
Maximum
Significant Accounting Policies
Period when consumer loans are charged off when loans are past due	120 days

Recent Accounting Pronouncement

Recent Accounting Pronouncements (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) loan	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
New Accounting Pronouncements
Percentage of Company Loans, LIBOR Used as Index Rate	5.30%
Retained earnings	$ (272,705,000)	$ (280,426,000)
Allowance for credit losses	35,843,000	31,146,000	$ 31,572,000	$ 34,246,000
Allowance for credit losses on investments	213,000	0
Off balance sheet liability, Allowance for loan losses	7,400,000	3,200,000
Deferred income taxes, net	$ 34,595,000	42,369,000
Number of loans experience financial difficulty | loan	0
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13
New Accounting Pronouncements
Retained earnings		4,500,000
Allowance for credit losses		3,857,000
Allowance for credit losses on investments		172,000
Off balance sheet liability, Allowance for loan losses		1,900,000
Deferred income taxes, net		$ 1,500,000

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements - Impact of ASC (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investment Securities
Allowance for credit losses on investments	$ 213,000	$ 0
Loans
Allowance for credit losses	35,843,000	31,146,000	$ 31,572,000	$ 34,246,000
Allowance for credit losses on loans and investments securities		31,146,000
Liabilities [Abstract]
Off balance sheet liability, Allowance for loan losses	7,400,000	3,200,000
Commercial
Loans
Allowance for credit losses	27,902,000	23,431,000	22,806,000	25,811,000
Commercial | Commercial and industrial
Loans
Allowance for credit losses	9,894,000	9,233,000	9,218,000	10,547,000
Commercial | Real estate construction
Loans
Allowance for credit losses	6,111,000	1,437,000	810,000	690,000
Commercial | Commercial real estate
Loans
Allowance for credit losses	11,897,000	12,761,000	12,778,000	14,574,000
Consumer
Loans
Allowance for credit losses	7,941,000	7,715,000	8,766,000	8,435,000
Consumer | Other revolving and installment
Loans
Allowance for credit losses	212,000	540,000	512,000	789,000
Real estate first mortgage | Consumer | Residential
Loans
Allowance for credit losses	6,578,000	5,857,000	6,874,000	6,174,000
Real estate junior lien | Consumer | Residential
Loans
Allowance for credit losses	1,151,000	1,318,000	$ 1,380,000	$ 1,472,000
Unfunded commitments
Liabilities [Abstract]
Off balance sheet liability, Allowance for loan losses	7,400,000	3,244,000
Mortgage backed securities - Residential agency
Investment Securities
Allowance for credit losses on investments	$ 99,000
Accounting Standards Update 2016-13 | Unfunded commitments
Liabilities [Abstract]
Off balance sheet liability, Allowance for loan losses		1,900,000
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2016-13
Investment Securities
Allowance for credit losses on investments		172,000
Loans
Allowance for credit losses		35,003,000
Allowance for credit losses on loans and investments securities		35,175,000
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2016-13 | Commercial
Loans
Allowance for credit losses		25,142,000
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2016-13 | Commercial | Commercial and industrial
Loans
Allowance for credit losses		8,526,000
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2016-13 | Commercial | Real estate construction
Loans
Allowance for credit losses		3,986,000
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2016-13 | Commercial | Commercial real estate
Loans
Allowance for credit losses		12,630,000
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2016-13 | Consumer
Loans
Allowance for credit losses		9,861,000
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2016-13 | Consumer | Other revolving and installment
Loans
Allowance for credit losses		444,000
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2016-13 | Real estate first mortgage | Consumer | Residential
Loans
Allowance for credit losses		8,126,000
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2016-13 | Real estate junior lien | Consumer | Residential
Loans
Allowance for credit losses		1,291,000
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2016-13 | Unfunded commitments
Liabilities [Abstract]
Off balance sheet liability, Allowance for loan losses		5,159,000
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2016-13 | Obligations of state and political agencies
Investment Securities
Allowance for credit losses on investments		110,000
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2016-13 | Mortgage backed securities - Residential agency
Investment Securities
Allowance for credit losses on investments		62,000
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13
Investment Securities
Allowance for credit losses on investments		172,000
Loans
Allowance for credit losses		3,857,000
Allowance for credit losses on loans and investments securities		4,029,000
Liabilities [Abstract]
Off balance sheet liability, Allowance for loan losses		1,900,000
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 | Commercial
Loans
Allowance for credit losses		1,711,000
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 | Commercial | Commercial and industrial
Loans
Allowance for credit losses		(707,000)
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 | Commercial | Real estate construction
Loans
Allowance for credit losses		2,549,000
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 | Commercial | Commercial real estate
Loans
Allowance for credit losses		(131,000)
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 | Consumer
Loans
Allowance for credit losses		2,146,000
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 | Consumer | Other revolving and installment
Loans
Allowance for credit losses		(96,000)
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 | Real estate first mortgage | Consumer | Residential
Loans
Allowance for credit losses		2,269,000
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 | Real estate junior lien | Consumer | Residential
Loans
Allowance for credit losses		(27,000)
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 | Unfunded commitments
Liabilities [Abstract]
Off balance sheet liability, Allowance for loan losses		1,915,000
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 | Obligations of state and political agencies
Investment Securities
Allowance for credit losses on investments		110,000
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 | Mortgage backed securities - Residential agency
Investment Securities
Allowance for credit losses on investments		$ 62,000

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 01, 2022	Dec. 31, 2022	Dec. 31, 2023
Business Combinations
Goodwill		$ 47,087	$ 46,783
MPB
Business Combinations
Total purchase price	$ 64,000
Goodwill	15,129
Core deposit intangible	7,592
Loans	270,400
Deposits	$ 353,685
Business Combination, Acquisition Related Costs		$ 2,500

Business Combinations - MPB BHC

Business Combinations - MPB BHC - Purchased assets and assumed liabilities at fair value (Details) - USD ($) $ in Thousands	Jul. 01, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents		$ 129,893	$ 58,242
Other intangible assets		17,158	22,455
Loans		2,759,583	2,443,994
Accrued interest receivable		15,700	12,869
Other assets		83,432	75,712
Total assets		3,907,713	3,779,637		$ 3,392,691
Liabilities
Deposits		3,095,611	2,915,484
Total liabilities		3,538,586	3,422,765
Liabilities
Goodwill		$ 46,783	$ 47,087
MPB
Assets
Cash and cash equivalents				$ 101,819
Fed funds sold				18,936
Loans				273,843
Accrued interest receivable				1,091
Other assets				3,342
Total assets				399,031
Liabilities
Deposits				354,529
Other liabilities				673
Total liabilities				355,202
Excess assets over liabilities				$ 43,829
MPB
Assets
Loans	$ 270,403
Assets
Cash and cash equivalents acquired	101,696
Fed funds sold	18,936
Core deposit intangible	7,592
Loans	270,400
Accrued interest receivable	1,091
Other assets	3,530
Total assets	403,248
Liabilities
Deposits	353,685
Other liabilities	673
Total liabilities	354,358
Excess assets over liabilities	48,890
Stock issued for MPB	64,019
Goodwill	15,129
Assets
Cash and cash equivalents	(123)
Core deposit intangible	7,592
Loans	(3,440)
Other assets	188
Total assets	4,217
Liabilities
Deposits	(844)
Total liabilities	(844)
Excess assets over liabilities	$ 5,061

Business Combinations - Schedul

Business Combinations - Schedule of pro forma information (Details) - MPB - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition, Pro Forma Information
Net interest income after provision for credit losses	$ 107,172	$ 104,087
Noninterest income	112,755	151,499
Noninterest expense	166,476	178,337
Net income (after tax)	$ 40,784	$ 58,585
Basic earnings per common share	$ 2.17	$ 3.36
Diluted earnings per common share	$ 2.14	$ 3.30

Business Combinations - Loan ba

Business Combinations - Loan balances (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Jul. 01, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Combinations
Outstanding balance		$ 4,270
Carrying amount	$ 2,759,583	2,443,994
Allowance for credit losses on loans	35,843	31,146		$ 31,572	$ 34,246
Carrying amount, net of allowance for loan losses	$ 2,723,740	2,412,848
MPB
Business Combinations
Carrying amount			$ 270,403
Evidence of deterioration of credit quality | MPB
Business Combinations
Outstanding balance		175
Carrying amount		151
Carrying amount, net of allowance for loan losses		151
Evidence of deterioration of credit quality | MPB | Real estate construction
Business Combinations
Outstanding balance		$ 175

Business Combinations - Accreta

Business Combinations - Accretable yield, or income expected to be collected (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Business Combinations
Beginning balance	$ 177
Ending balance	$ 177

Restrictions on Cash and Due _2

Restrictions on Cash and Due from Banks (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Restrictions on Cash and Due from Banks
Amount of minimum average reserve balances required to be maintained	$ 0	$ 0
Balances at the Federal Reserve Bank and other financial institutions	$ 101,000	$ 28,000

Investment Securities (Details)

Investment Securities (Details) - USD ($)	Apr. 01, 2021	Dec. 31, 2023	Dec. 31, 2022
Investment securities available-for-sale
Amortized Cost		$ 584,754,000	$ 849,567,000
Unrealized Gains		5,000	21,000
Unrealized Losses		(98,023,000)	(132,264,000)
Allowance for Credit Losses		0	0
Fair Value		486,736,000	717,324,000
Amortized Cost		299,728,000	321,902,000
Unrealized Losses		(41,111,000)	(50,990,000)
Allowance for Credit Losses		213,000	0
Fair Value		258,617,000	270,912,000
Amortized Cost		884,482,000	1,171,469,000
Unrealized Gains		5,000	21,000
Unrealized Losses		(139,134,000)	(183,254,000)
Allowance for Credit Losses		213,000
Fair Value		745,353,000	988,236,000
Available-for-Sale accrued interest receivable		$ 1,500,000	$ 1,900,000
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]		Fair Value	Fair Value
Held-to-Maturity accrued interest receivable		$ 1,400,000	$ 1,500,000
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]		Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss	Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss
Net unrealized gains on the transferred securities		$ 108,000	$ 272,000
Deferred tax on the transferred securities		55,000	137,000
U.S. treasury and government agencies
Investment securities available-for-sale
Amortized Cost		1,119,000	3,518,000
Unrealized Gains		4,000	19,000
Unrealized Losses		(3,000)	(17,000)
Fair Value		1,120,000	3,520,000
Mortgage backed securities - Residential agency
Investment securities available-for-sale
Amortized Cost		524,140,000	705,845,000
Unrealized Gains		1,000	2,000
Unrealized Losses		(88,547,000)	(118,168,000)
Fair Value		435,594,000	587,679,000
Amortized Cost		170,125,000	184,115,000
Unrealized Losses		(28,498,000)	(33,254,000)
Allowance for Credit Losses		99,000
Fair Value		141,627,000	150,861,000
Mortgage backed securities - Commercial
Investment securities available-for-sale
Amortized Cost		1,476,000	70,669,000
Unrealized Losses		(123,000)	(7,111,000)
Fair Value		1,353,000	63,558,000
Asset backed securities
Investment securities available-for-sale
Amortized Cost		26,000	34,000
Unrealized Losses		(1,000)
Fair Value		25,000	34,000
Corporate bonds
Investment securities available-for-sale
Amortized Cost		57,993,000	69,501,000
Unrealized Losses		(9,349,000)	(6,968,000)
Fair Value		48,644,000	62,533,000
Obligations of state and political agencies.
Investment securities available-for-sale
Amortized Cost		129,603,000	137,787,000
Unrealized Losses		(12,613,000)	(17,736,000)
Allowance for Credit Losses		114,000
Fair Value		$ 116,990,000	$ 120,051,000
Fair value of debt securities available-for-sale transferred to held-to-maturity	$ 149,200,000
Net unrealized gain from available-for-sale to held-to-maturity	$ 1,300,000

Investment Securities - Proceed

Investment Securities - Proceeds from sale of available for sale securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2021
Investment Securities
Proceeds	$ 171,758	$ 13,189
Realized gains		$ 114
Realized losses	$ (24,643)

Investment Securities - Proce_2

Investment Securities - Proceeds from the call of held-to-maturity investment securities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Investment Securities
Proceeds	$ 242	$ 963	$ 1,772
Number of held to maturity securities sold | security	0	0	1
Amortized Cost			$ 330
Proceeds from sales of investment securities held-to-maturity			348
Realized gains			$ 11

Investment Securities - Gross u

Investment Securities - Gross unrealized losses (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($)
Investment securities available-for-sale
Number of Holdings | security	129	183
Unrealized losses less than 12 months	$ (3)	$ (19,761)
Fair value less than 12 months	532	178,719
Unrealized losses over 12 months	(98,020)	(112,503)
Fair value over 12 months	485,527	535,024
Total Unrealized losses	(98,023)	(132,264)
Total Fair value	486,059	$ 713,743
Held-to-maturity investment securities
Number of Holdings | security		208
Unrealized losses less than 12 months		$ (3,336)
Fair value less than 12 months		18,788
Unrealized losses over 12 months		(47,654)
Fair value over 12 months		249,623
Total Unrealized losses		(50,990)
Total Fair value		268,411
Unrealized losses less than 12 months		(23,097)
Fair value less than 12 months		197,507
Unrealized losses over 12 months		(160,157)
Fair value over 12 months		$ 784,647
Total available for sale and held to maturity | security		391
Total Unrealized losses		$ (183,254)
Total Fair value		982,154
Held to Maturity, Excluding Accrued Interest, Past Due	0	0
Held-to-maturity interest income	$ 0	$ 0	$ 0
U.S. treasury and government agencies
Investment securities available-for-sale
Number of Holdings | security	1	1
Unrealized losses less than 12 months	$ (3)	$ (17)
Fair value less than 12 months	489	509
Total Unrealized losses	(3)	(17)
Total Fair value	$ 489	$ 509
Mortgage backed securities - Residential agency
Investment securities available-for-sale
Number of Holdings | security	112	145
Unrealized losses less than 12 months		$ (10,457)
Fair value less than 12 months	$ 43	79,693
Unrealized losses over 12 months	(88,547)	(107,711)
Fair value over 12 months	435,505	507,418
Total Unrealized losses	(88,547)	(118,168)
Total Fair value	$ 435,548	$ 587,111
Held-to-maturity investment securities
Number of Holdings | security		27
Unrealized losses over 12 months		$ (33,254)
Fair value over 12 months		150,861
Total Unrealized losses		(33,254)
Total Fair value		$ 150,861
Mortgage backed securities - Commercial
Investment securities available-for-sale
Number of Holdings | security	1	17
Unrealized losses less than 12 months		$ (4,835)
Fair value less than 12 months		50,437
Unrealized losses over 12 months	$ (123)	(2,276)
Fair value over 12 months	1,353	13,120
Total Unrealized losses	(123)	(7,111)
Total Fair value	$ 1,353	$ 63,557
Asset backed securities
Investment securities available-for-sale
Number of Holdings | security	3	3
Fair value less than 12 months		$ 32
Unrealized losses over 12 months	$ (1)
Fair value over 12 months	25	2
Total Unrealized losses	(1)
Total Fair value	$ 25	$ 34
Corporate bonds
Investment securities available-for-sale
Number of Holdings | security	12	17
Unrealized losses less than 12 months		$ (4,452)
Fair value less than 12 months		48,048
Unrealized losses over 12 months	$ (9,349)	(2,516)
Fair value over 12 months	48,644	14,484
Total Unrealized losses	(9,349)	(6,968)
Total Fair value	$ 48,644	62,532
Obligations of state and political agencies.
Investment securities available-for-sale
Unrealized losses less than 12 months		(3,336)
Fair value less than 12 months		18,788
Unrealized losses over 12 months		(14,400)
Fair value over 12 months		98,762
Total Unrealized losses		(17,736)
Total Fair value		$ 117,550
Held-to-maturity investment securities
Number of Holdings | security		181

Investment Securities - Amortiz

Investment Securities - Amortized cost and estimated fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Carrying Value
Due within one year or less	$ 8,588
Due after one year through five years	47,995
Due after five years through ten years	60,289
Due after 10 years	12,731
Held-to-maturity securities carrying value	129,603
Amortized Cost	299,728	$ 321,902
Estimated Fair Value
Due within one year or less	8,474
Due after one year through five years	44,557
Due after five years through ten years	52,729
Due after 10 years	11,230
Total investment securities	116,990
Debt Securities, Held-to-maturity, Fair Value, Total	258,617	270,912
Amortized Cost
Due after one year through five years	524
Due after five years through ten years	59,477
Due after 10 years	613
Total investment securities available-for-sale	60,614
Total investment securities, Amortized Cost	584,754	849,567
Fair Value
Due after one year through five years	521
Due after five years through ten years	50,004
Due after 10 years	617
Total investment securities available-for-sale	51,142
Debt Securities, Available-for-sale, Total	486,736	717,324
Mortgage backed securities - Residential agency
Carrying Value
Mortgage-backed securities, Carrying value	170,125
Amortized Cost	170,125	184,115
Estimated Fair Value
Mortgage-backed securities, Fair value	141,627
Debt Securities, Held-to-maturity, Fair Value, Total	141,627	150,861
Amortized Cost
Mortgage-backed securities, Amortized Cost	524,140
Fair Value
Mortgage-backed securities, Fair value	435,594
Debt Securities, Available-for-sale, Total	$ 435,594	$ 587,679

Investment Securities - Pledged

Investment Securities - Pledged (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Investment Securities
Investment securities with carrying value pledged to secure deports or other	$ 250	$ 260.7

Investment Securities - Carryin

Investment Securities - Carrying value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investment Securities
Federal Reserve	$ 4,623	$ 4,595
FHLB	$ 16,566	$ 19,362

Investment Securities - Visa Cl

Investment Securities - Visa Class B Restricted Shares (Details) - Visa $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares
Common Class A
Securities
Investment shares owned, if converted	11,702	11,702
Common Class B
Securities
Conversion ratio	1.5991
Investment shares owned	6,924	6,924
Cost basis | $	$ 0	$ 0

Loans and Allowance for Credi_3

Loans and Allowance for Credit Losses - Loans outstanding by portfolio segment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Jul. 01, 2022
Loans and Allowance for Loan Losses
Carrying amount	$ 2,759,583	$ 2,443,994
Deferred loan fees and costs	200	900
Accrued interest receivable	$ 12,200	$ 9,200
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Interest Receivable	Interest Receivable
MPB
Loans and Allowance for Loan Losses
Carrying amount			$ 270,403
Unearned discount	$ 5,100	$ 7,100
Commercial
Loans and Allowance for Loan Losses
Carrying amount	1,849,267	1,563,356
Consumer
Loans and Allowance for Loan Losses
Carrying amount	910,316	880,638
Commercial and industrial | Commercial
Loans and Allowance for Loan Losses
Carrying amount	598,321	583,876
Real estate construction | Commercial
Loans and Allowance for Loan Losses
Carrying amount	124,034	97,810
Residential | Consumer | Real estate first mortgage
Loans and Allowance for Loan Losses
Carrying amount	726,879	679,551
Residential | Consumer | Real estate junior lien
Loans and Allowance for Loan Losses
Carrying amount	154,134	150,479
Commercial real estate | Commercial
Loans and Allowance for Loan Losses
Carrying amount	1,126,912	881,670
Other revolving and installment | Consumer
Loans and Allowance for Loan Losses
Carrying amount	$ 29,303	$ 50,608

Loans and Allowance for Credi_4

Loans and Allowance for Credit Losses - Pledged (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Loans and Allowance for Loan Losses
Carrying amount	$ 2,759,583	$ 2,443,994
Pledged
Loans and Allowance for Loan Losses
Carrying amount	$ 1,600,000	$ 1,500,000

Loans and Allowance for Credi_5

Loans and Allowance for Credit Losses - Changes in allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Changes in the allowance
Beginning balance	$ 31,146	$ 31,572	$ 34,246
Provision for credit losses	(225)		(3,500)
Loan charge-offs	(613)	(1,549)	(1,922)
Loan recoveries	1,678	1,123	2,748
Ending balance	35,843	31,146	31,572
Provision for off-balance sheet credit loss	2,200
Debt securities held-to-maturity credit loss	40
Increase (Decrease) in allowance for credit loss	$ 4,700
Percentage of increase in ACL compared to previous year	15.10%
Increase in reserve dur to elevated risk of credit loss	$ 840
Adoption of CECL | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance
Beginning balance	3,857
Ending balance		3,857
Commercial
Changes in the allowance
Beginning balance	23,431	22,806	25,811
Provision for credit losses	1,992	1,350	(3,721)
Loan charge-offs	(436)	(1,396)	(1,766)
Loan recoveries	1,204	671	2,482
Ending balance	27,902	23,431	22,806
Commercial | Adoption of CECL | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance
Beginning balance	1,711
Ending balance		1,711
Commercial | Commercial and industrial
Changes in the allowance
Beginning balance	9,233	9,218	10,547
Provision for credit losses	645	950	(1,759)
Loan charge-offs	(436)	(1,396)	(1,230)
Loan recoveries	1,159	461	1,660
Ending balance	9,894	9,233	9,218
Commercial | Commercial and industrial | Adoption of CECL | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance
Beginning balance	(707)
Ending balance		(707)
Commercial | Real estate construction
Changes in the allowance
Beginning balance	1,437	810	690
Provision for credit losses	2,125	551	120
Loan recoveries		76
Ending balance	6,111	1,437	810
Commercial | Real estate construction | Adoption of CECL | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance
Beginning balance	2,549
Ending balance		2,549
Commercial | Commercial real estate
Changes in the allowance
Beginning balance	12,761	12,778	14,574
Provision for credit losses	(778)	(151)	(2,082)
Loan charge-offs			(536)
Loan recoveries	45	134	822
Ending balance	11,897	12,761	12,778
Commercial | Commercial real estate | Adoption of CECL | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance
Beginning balance	(131)
Ending balance		(131)
Consumer
Changes in the allowance
Beginning balance	7,715	8,766	8,435
Provision for credit losses	(2,217)	(1,350)	221
Loan charge-offs	(177)	(153)	(156)
Loan recoveries	474	452	266
Ending balance	7,941	7,715	8,766
Consumer | Adoption of CECL | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance
Beginning balance	2,146
Ending balance		2,146
Consumer | Residential | Real estate first mortgage
Changes in the allowance
Beginning balance	5,857	6,874	6,174
Provision for credit losses	(1,829)	(1,017)	700
Loan charge-offs	(49)
Loan recoveries	330
Ending balance	6,578	5,857	6,874
Consumer | Residential | Real estate first mortgage | Adoption of CECL | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance
Beginning balance	2,269
Ending balance		2,269
Consumer | Residential | Real estate junior lien
Changes in the allowance
Beginning balance	1,318	1,380	1,472
Provision for credit losses	(115)	(344)	(215)
Loan charge-offs	(77)
Loan recoveries	52	282	123
Ending balance	1,151	1,318	1,380
Consumer | Residential | Real estate junior lien | Adoption of CECL | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance
Beginning balance	(27)
Ending balance		(27)
Consumer | Other revolving and installment
Changes in the allowance
Beginning balance	540	512	789
Provision for credit losses	(273)	11	(264)
Loan charge-offs	(51)	(153)	(156)
Loan recoveries	92	170	143
Ending balance	212	540	$ 512
Consumer | Other revolving and installment | Adoption of CECL | Cumulative Effect, Period of Adoption, Adjustment
Changes in the allowance
Beginning balance	$ (96)
Ending balance		$ (96)

Loans and Allowance for Credi_6

Loans and Allowance for Credit Losses - Credit Concentrations (Details)	12 Months Ended
	Dec. 31, 2023
Industry Concentration Risk | Total Loans | General Business
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk percentage	10.70%

Loans and Allowance for Credi_7

Loans and Allowance for Credit Losses - Amortized cost basis of loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	$ 596,068
2022	667,908
2021	452,797
2020	341,964
2019	191,673
Prior	273,542
Loans amortized cost basis	235,631
Loans	2,759,583	$ 2,443,994
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Write-off, by Origination Year [Abstract]
Current period gross charge-off, 2023	43
Current period gross charge-off, 2022	2
Current period gross charge-off, 2021	58
Current period gross charge-off, 2020	42
Current period gross charge-off, 2019	253
Current period gross charge-off, Prior	215
Current period gross charge-off, Total	613	1,549	$ 1,922
Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		2,408,709
Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		22,032
Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		13,253
Commercial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans	1,849,267	1,563,356
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Write-off, by Origination Year [Abstract]
Current period gross charge-off, Total	436	1,396	1,766
Commercial | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		1,529,512
Commercial | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		21,969
Commercial | Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		11,875
Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans	910,316	880,638
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Write-off, by Origination Year [Abstract]
Current period gross charge-off, Total	177	153	156
Consumer | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		879,197
Consumer | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		63
Consumer | Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		1,378
Commercial and industrial | Commercial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	197,997
2022	93,934
2021	67,927
2020	70,600
2019	34,697
Prior	17,566
Loans amortized cost basis	115,600
Loans	598,321	583,876
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Write-off, by Origination Year [Abstract]
Current period gross charge-off, 2023	39
Current period gross charge-off, 2021	49
Current period gross charge-off, 2020	11
Current period gross charge-off, 2019	247
Current period gross charge-off, Prior	90
Current period gross charge-off, Total	436	1,396	1,230
Commercial and industrial | Commercial | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	197,533
2022	89,090
2021	67,691
2020	64,272
2019	34,603
Prior	15,053
Loans amortized cost basis	100,239
Loans	568,481	558,694
Commercial and industrial | Commercial | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		21,969
Commercial and industrial | Commercial | Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	464
2022	4,844
2021	236
2020	6,328
2019	94
Prior	2,513
Loans amortized cost basis	15,361
Loans	29,840	3,213
Real estate construction | Commercial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	29,902
2022	78,611
2021	14,326
2020	122
Prior	952
Loans amortized cost basis	121
Loans	124,034	97,810
Real estate construction | Commercial | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	29,902
2022	57,944
2021	14,326
2020	122
Prior	952
Loans amortized cost basis	121
Loans	103,367	97,548
Real estate construction | Commercial | Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2022	20,667
Loans	20,667	262
Residential | Real estate first mortgage | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	72,180
2022	207,177
2021	218,719
2020	108,100
2019	33,102
Prior	87,317
Loans amortized cost basis	284
Loans	726,879	679,551
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Write-off, by Origination Year [Abstract]
Current period gross charge-off, 2021	9
Current period gross charge-off, Prior	40
Current period gross charge-off, Total	49
Residential | Real estate first mortgage | Consumer | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		678,743
Residential | Real estate first mortgage | Consumer | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		63
Residential | Real estate first mortgage | Consumer | Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		745
Residential | Real estate first mortgage | Consumer | Performing
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	72,180
2022	207,177
2021	218,719
2020	108,100
2019	33,102
Prior	87,212
Loans amortized cost basis	284
Loans	726,774
Residential | Real estate first mortgage | Consumer | Nonperforming
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Prior	105
Loans	105
Residential | Real estate junior lien | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	18,408
2022	15,655
2021	5,946
2020	4,857
2019	1,769
Prior	5,280
Loans amortized cost basis	102,219
Loans	154,134	150,479
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Write-off, by Origination Year [Abstract]
Current period gross charge-off, Prior	77
Current period gross charge-off, Total	77
Residential | Real estate junior lien | Consumer | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		149,847
Residential | Real estate junior lien | Consumer | Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		632
Residential | Real estate junior lien | Consumer | Performing
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	18,408
2022	15,655
2021	5,946
2020	4,857
2019	1,769
Prior	5,280
Loans amortized cost basis	100,438
Loans	152,353
Residential | Real estate junior lien | Consumer | Nonperforming
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans amortized cost basis	1,781
Loans	1,781
Commercial real estate | Commercial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	272,261
2022	266,136
2021	144,899
2020	153,796
2019	120,551
Prior	161,475
Loans amortized cost basis	7,794
Loans	1,126,912	881,670
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Write-off, by Origination Year [Abstract]
Current period gross charge-off, Total			536
Commercial real estate | Commercial | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	272,261
2022	265,549
2021	142,027
2020	153,796
2019	116,861
Prior	159,454
Loans amortized cost basis	7,794
Loans	1,117,742	873,270
Commercial real estate | Commercial | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Prior	262
Loans	262
Commercial real estate | Commercial | Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2022	587
2021	2,872
2019	3,690
Prior	1,759
Loans	8,908	8,400
Other revolving and installment | Consumer
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	5,320
2022	6,395
2021	980
2020	4,489
2019	1,554
Prior	952
Loans amortized cost basis	9,613
Loans	29,303	50,608
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Write-off, by Origination Year [Abstract]
Current period gross charge-off, 2023	4
Current period gross charge-off, 2022	2
Current period gross charge-off, 2020	31
Current period gross charge-off, 2019	6
Current period gross charge-off, Prior	8
Current period gross charge-off, Total	51	153	$ 156
Other revolving and installment | Consumer | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		50,607
Other revolving and installment | Consumer | Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Loans		$ 1
Other revolving and installment | Consumer | Performing
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	5,320
2022	6,395
2021	980
2020	4,489
2019	1,554
Prior	952
Loans amortized cost basis	9,613
Loans	$ 29,303

Loans and Allowance for Credi_8

Loans and Allowance for Credit Losses - Loans by risk category (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Loans outstanding by loan portfolio segment and risk category
Loans	$ 2,759,583	$ 2,443,994
Pass
Loans outstanding by loan portfolio segment and risk category
Loans		2,408,709
Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans		22,032
Substandard
Loans outstanding by loan portfolio segment and risk category
Loans		13,253
Commercial
Loans outstanding by loan portfolio segment and risk category
Loans	1,849,267	1,563,356
Commercial | Pass
Loans outstanding by loan portfolio segment and risk category
Loans		1,529,512
Commercial | Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans		21,969
Commercial | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans		11,875
Commercial | Commercial and industrial
Loans outstanding by loan portfolio segment and risk category
Loans	598,321	583,876
Commercial | Commercial and industrial | Pass
Loans outstanding by loan portfolio segment and risk category
Loans	568,481	558,694
Commercial | Commercial and industrial | Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans		21,969
Commercial | Commercial and industrial | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans	29,840	3,213
Commercial | Real estate construction
Loans outstanding by loan portfolio segment and risk category
Loans	124,034	97,810
Commercial | Real estate construction | Pass
Loans outstanding by loan portfolio segment and risk category
Loans	103,367	97,548
Commercial | Real estate construction | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans	20,667	262
Commercial | Commercial real estate
Loans outstanding by loan portfolio segment and risk category
Loans	1,126,912	881,670
Commercial | Commercial real estate | Pass
Loans outstanding by loan portfolio segment and risk category
Loans	1,117,742	873,270
Commercial | Commercial real estate | Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans	262
Commercial | Commercial real estate | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans	8,908	8,400
Consumer
Loans outstanding by loan portfolio segment and risk category
Loans	910,316	880,638
Consumer | Pass
Loans outstanding by loan portfolio segment and risk category
Loans		879,197
Consumer | Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans		63
Consumer | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans		1,378
Consumer | Residential | Real estate first mortgage
Loans outstanding by loan portfolio segment and risk category
Loans	726,879	679,551
Consumer | Residential | Real estate first mortgage | Pass
Loans outstanding by loan portfolio segment and risk category
Loans		678,743
Consumer | Residential | Real estate first mortgage | Special Mention
Loans outstanding by loan portfolio segment and risk category
Loans		63
Consumer | Residential | Real estate first mortgage | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans		745
Consumer | Residential | Real estate junior lien
Loans outstanding by loan portfolio segment and risk category
Loans	154,134	150,479
Consumer | Residential | Real estate junior lien | Pass
Loans outstanding by loan portfolio segment and risk category
Loans		149,847
Consumer | Residential | Real estate junior lien | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans		632
Consumer | Other revolving and installment
Loans outstanding by loan portfolio segment and risk category
Loans	$ 29,303	50,608
Consumer | Other revolving and installment | Pass
Loans outstanding by loan portfolio segment and risk category
Loans		50,607
Consumer | Other revolving and installment | Substandard
Loans outstanding by loan portfolio segment and risk category
Loans		$ 1

Loans and Allowance for Credi_9

Loans and Allowance for Credit Losses - Past due aging analysis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Past due aging analysis of loans
Loans	$ 2,759,583	$ 2,443,994
Nonaccrual	8,596	3,794
30-59 Days Past Due
Past due aging analysis of loans
Loans	2,789
60-89 Days Past Due
Past due aging analysis of loans
Loans	601	415
30 - 89 Days Past Due
Past due aging analysis of loans
Loans		4,548
90 Days or More Past Due
Past due aging analysis of loans
Loans	139
Current
Past due aging analysis of loans
Loans	2,747,458	2,435,237
Commercial
Past due aging analysis of loans
Loans	1,849,267	1,563,356
Nonaccrual	7,710	3,074
Commercial | 30-59 Days Past Due
Past due aging analysis of loans
Loans	1,052
Commercial | 60-89 Days Past Due
Past due aging analysis of loans
Loans		94
Commercial | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans		2,700
Commercial | 90 Days or More Past Due
Past due aging analysis of loans
Loans	139
Commercial | Current
Past due aging analysis of loans
Loans	1,840,366	1,557,488
Commercial | Commercial and industrial
Past due aging analysis of loans
Loans	598,321	583,876
Nonaccrual	6,595	1,162
Commercial | Commercial and industrial | 30-59 Days Past Due
Past due aging analysis of loans
Loans	924
Commercial | Commercial and industrial | 60-89 Days Past Due
Past due aging analysis of loans
Loans		94
Commercial | Commercial and industrial | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans		2,332
Commercial | Commercial and industrial | 90 Days or More Past Due
Past due aging analysis of loans
Loans	139
Commercial | Commercial and industrial | Current
Past due aging analysis of loans
Loans	590,663	580,288
Commercial | Real estate construction
Past due aging analysis of loans
Loans	124,034	97,810
Nonaccrual		440
Commercial | Real estate construction | Current
Past due aging analysis of loans
Loans	124,034	97,370
Commercial | Commercial real estate
Past due aging analysis of loans
Loans	1,126,912	881,670
Nonaccrual	1,115	1,472
Commercial | Commercial real estate | 30-59 Days Past Due
Past due aging analysis of loans
Loans	128
Commercial | Commercial real estate | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans		368
Commercial | Commercial real estate | Current
Past due aging analysis of loans
Loans	1,125,669	879,830
Consumer
Past due aging analysis of loans
Loans	910,316	880,638
Nonaccrual	886	720
Consumer | 30-59 Days Past Due
Past due aging analysis of loans
Loans	1,737
Consumer | 60-89 Days Past Due
Past due aging analysis of loans
Loans	601	321
Consumer | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans		1,848
Consumer | Current
Past due aging analysis of loans
Loans	907,092	877,749
Consumer | Residential | Real estate first mortgage
Past due aging analysis of loans
Loans	726,879	679,551
Nonaccrual	638	535
Consumer | Residential | Real estate first mortgage | Performing
Past due aging analysis of loans
Loans	726,774
Consumer | Residential | Real estate first mortgage | Nonperforming
Past due aging analysis of loans
Loans	105
Consumer | Residential | Real estate first mortgage | 30-59 Days Past Due
Past due aging analysis of loans
Loans	901
Consumer | Residential | Real estate first mortgage | 60-89 Days Past Due
Past due aging analysis of loans
Loans	554	311
Consumer | Residential | Real estate first mortgage | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans		1,234
Consumer | Residential | Real estate first mortgage | Current
Past due aging analysis of loans
Loans	724,786	677,471
Consumer | Residential | Real estate junior lien
Past due aging analysis of loans
Loans	154,134	150,479
Nonaccrual	248	184
Consumer | Residential | Real estate junior lien | Performing
Past due aging analysis of loans
Loans	152,353
Consumer | Residential | Real estate junior lien | Nonperforming
Past due aging analysis of loans
Loans	1,781
Consumer | Residential | Real estate junior lien | 30-59 Days Past Due
Past due aging analysis of loans
Loans	666
Consumer | Residential | Real estate junior lien | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans		377
Consumer | Residential | Real estate junior lien | Current
Past due aging analysis of loans
Loans	153,220	149,918
Consumer | Other revolving and installment
Past due aging analysis of loans
Loans	29,303	50,608
Nonaccrual		1
Consumer | Other revolving and installment | Performing
Past due aging analysis of loans
Loans	29,303
Consumer | Other revolving and installment | 30-59 Days Past Due
Past due aging analysis of loans
Loans	170
Consumer | Other revolving and installment | 60-89 Days Past Due
Past due aging analysis of loans
Loans	47	10
Consumer | Other revolving and installment | 30 - 89 Days Past Due
Past due aging analysis of loans
Loans		237
Consumer | Other revolving and installment | Current
Past due aging analysis of loans
Loans	$ 29,086	$ 50,360

Loans and Allowance for Cred_10

Loans and Allowance for Credit Losses - Amortized cost basis of loans on nonaccrual status loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Nonaccrual with no Allowance for Credit Losses	$ 991	$ 1,934
Nonaccrual	8,596	3,794
90 Days or More Past Due and Accruing	139
Interest income if troubled debt restructurings recognized in the period	469	155	$ 183
Commercial
Financing Receivable, Past Due [Line Items]
Nonaccrual with no Allowance for Credit Losses	174	1,214
Nonaccrual	7,710	3,074
90 Days or More Past Due and Accruing	139
Consumer
Financing Receivable, Past Due [Line Items]
Nonaccrual with no Allowance for Credit Losses	817	720
Nonaccrual	886	720
Commercial and industrial | Commercial
Financing Receivable, Past Due [Line Items]
Nonaccrual with no Allowance for Credit Losses	79	638
Nonaccrual	6,595	1,162
90 Days or More Past Due and Accruing	139
Real estate construction | Commercial
Financing Receivable, Past Due [Line Items]
Nonaccrual		440
Commercial real estate | Commercial
Financing Receivable, Past Due [Line Items]
Nonaccrual with no Allowance for Credit Losses	95	576
Nonaccrual	1,115	1,472
Other revolving and installment | Consumer
Financing Receivable, Past Due [Line Items]
Nonaccrual with no Allowance for Credit Losses		1
Nonaccrual		1
Real estate first mortgage | Residential | Consumer
Financing Receivable, Past Due [Line Items]
Nonaccrual with no Allowance for Credit Losses	632	535
Nonaccrual	638	535
Real estate junior lien | Residential | Consumer
Financing Receivable, Past Due [Line Items]
Nonaccrual with no Allowance for Credit Losses	185	184
Nonaccrual	$ 248	$ 184

Loans and Allowance for Cred_11

Loans and Allowance for Credit Losses - Collateral Dependent Loans (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	$ 7,802
Allowance for credit loss, collateral dependent loans	2,994
Commercial
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	6,915
Allowance for credit loss, collateral dependent loans	2,985
Commercial | Commercial and industrial
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	6,124
Allowance for credit loss, collateral dependent loans	2,384
Commercial | Commercial real estate
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	791
Allowance for credit loss, collateral dependent loans	601
Consumer
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	887
Allowance for credit loss, collateral dependent loans	9
Consumer | Residential | Real estate first mortgage
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	638
Allowance for credit loss, collateral dependent loans	3
Consumer | Residential | Real estate junior lien
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	249
Allowance for credit loss, collateral dependent loans	6
Real Estate
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	7,591
Real Estate | Commercial
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	6,819
Real Estate | Commercial | Commercial and industrial
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	6,124
Real Estate | Commercial | Commercial real estate
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	695
Real Estate | Consumer
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	772
Real Estate | Consumer | Residential | Real estate first mortgage
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	638
Real Estate | Consumer | Residential | Real estate junior lien
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	134
Equipment
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	22
Equipment | Consumer
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	22
Equipment | Consumer | Residential | Real estate junior lien
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	22
Other
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	189
Other | Commercial
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	96
Other | Commercial | Commercial real estate
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	96
Other | Consumer
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	93
Other | Consumer | Residential | Real estate junior lien
Loans and Allowance for Loan Losses
Amortized costs, collateral dependent loans	$ 93

Loans and Allowance for Cred_12

Loans and Allowance for Credit Losses - Components of loans and associated allowance (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated		$ 3,767
Recorded Investment, Collectively Evaluated		2,440,227
Loans	$ 2,759,583	2,443,994
Allowance for Loan Losses, Individually Evaluated		954
Allowance for Loan Losses, Collectively Evaluated		30,192
Loans and Leases Receivable, Allowance, Total	35,843	31,146	$ 31,572	$ 34,246
Commercial
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated		3,047
Recorded Investment, Collectively Evaluated		1,560,309
Loans	1,849,267	1,563,356
Allowance for Loan Losses, Individually Evaluated		954
Allowance for Loan Losses, Collectively Evaluated		22,477
Loans and Leases Receivable, Allowance, Total	27,902	23,431	22,806	25,811
Commercial | Commercial and industrial
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated		1,313
Recorded Investment, Collectively Evaluated		582,563
Loans	598,321	583,876
Allowance for Loan Losses, Individually Evaluated		275
Allowance for Loan Losses, Collectively Evaluated		8,958
Loans and Leases Receivable, Allowance, Total	9,894	9,233	9,218	10,547
Commercial | Real estate construction
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated		262
Recorded Investment, Collectively Evaluated		97,548
Loans	124,034	97,810
Allowance for Loan Losses, Individually Evaluated		97
Allowance for Loan Losses, Collectively Evaluated		1,340
Loans and Leases Receivable, Allowance, Total	6,111	1,437	810	690
Commercial | Commercial real estate
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated		1,472
Recorded Investment, Collectively Evaluated		880,198
Loans	1,126,912	881,670
Allowance for Loan Losses, Individually Evaluated		582
Allowance for Loan Losses, Collectively Evaluated		12,179
Loans and Leases Receivable, Allowance, Total	11,897	12,761	12,778	14,574
Consumer
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated		720
Recorded Investment, Collectively Evaluated		879,918
Loans	910,316	880,638
Allowance for Loan Losses, Collectively Evaluated		7,715
Loans and Leases Receivable, Allowance, Total	7,941	7,715	8,766	8,435
Consumer | Residential | Real estate first mortgage
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated		535
Recorded Investment, Collectively Evaluated		679,016
Loans	726,879	679,551
Allowance for Loan Losses, Collectively Evaluated		5,857
Loans and Leases Receivable, Allowance, Total	6,578	5,857	6,874	6,174
Consumer | Residential | Real estate junior lien
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated		184
Recorded Investment, Collectively Evaluated		150,295
Loans	154,134	150,479
Allowance for Loan Losses, Collectively Evaluated		1,318
Loans and Leases Receivable, Allowance, Total	1,151	1,318	1,380	1,472
Consumer | Other revolving and installment
Loans and Allowance for Loan Losses
Recorded Investment, Individually Evaluated		1
Recorded Investment, Collectively Evaluated		50,607
Loans	29,303	50,608
Allowance for Loan Losses, Collectively Evaluated		540
Loans and Leases Receivable, Allowance, Total	$ 212	$ 540	$ 512	$ 789

Loans and Allowance for Cred_13

Loans and Allowance for Credit Losses - Impaired loans (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Impaired
Loans with related allowance for loan losses, Recorded investment	$ 1,833
Loans with related allowance for loan losses, unpaid principal	2,051
Loans with related allowance for loan losses, Related Allowance	954
Loans with no related allowance for loan losses, Recorded investment	1,934
Loans with no related allowance for loan losses, unpaid principal	2,219
Recorded investment	3,767
Unpaid principal balance	4,270
Commercial | Commercial and industrial
Impaired
Loans with related allowance for loan losses, Recorded investment	675
Loans with related allowance for loan losses, unpaid principal	711
Loans with related allowance for loan losses, Related Allowance	275
Loans with no related allowance for loan losses, Recorded investment	638
Loans with no related allowance for loan losses, unpaid principal	767
Recorded investment	1,313
Unpaid principal balance	1,478
Commercial | Real estate construction
Impaired
Loans with related allowance for loan losses, Recorded investment	262
Loans with related allowance for loan losses, unpaid principal	440
Loans with related allowance for loan losses, Related Allowance	97
Recorded investment	262
Unpaid principal balance	440
Commercial | Commercial real estate
Impaired
Loans with related allowance for loan losses, Recorded investment	896
Loans with related allowance for loan losses, unpaid principal	900
Loans with related allowance for loan losses, Related Allowance	582
Loans with no related allowance for loan losses, Recorded investment	576
Loans with no related allowance for loan losses, unpaid principal	660
Recorded investment	1,472
Unpaid principal balance	1,560
Consumer | Residential | Real estate first mortgage
Impaired
Loans with no related allowance for loan losses, Recorded investment	535
Loans with no related allowance for loan losses, unpaid principal	573
Recorded investment	535
Unpaid principal balance	573
Consumer | Residential | Real estate junior lien
Impaired
Loans with no related allowance for loan losses, Recorded investment	184
Loans with no related allowance for loan losses, unpaid principal	218
Recorded investment	184
Unpaid principal balance	218
Consumer | Other revolving and installment
Impaired
Loans with no related allowance for loan losses, Recorded investment	1
Loans with no related allowance for loan losses, unpaid principal	1
Recorded investment	1
Unpaid principal balance	$ 1

Loans and Allowance for Cred_14

Loans and Allowance for Credit Losses - Interest Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Impaired
Loans with related allowance for loan losses, Average recorded investment	$ 2,099	$ 704
Loans with no related allowance for loan losses, Average recorded investment	2,092	2,782
Loans, Average recorded investment	4,191	3,486
Loans with related allowance for loan losses, Interest income	13	20
Loans with no related allowance for loan losses, Interest income		20
Loans, Interest income	13	40
Commercial | Commercial and industrial
Impaired
Loans with related allowance for loan losses, Average recorded investment	722	517
Loans with no related allowance for loan losses, Average recorded investment	707	1,988
Loans, Average recorded investment	1,429	2,505
Loans with related allowance for loan losses, Interest income	13	13
Loans with no related allowance for loan losses, Interest income		20
Loans, Interest income	13	33
Commercial | Real estate construction
Impaired
Loans with related allowance for loan losses, Average recorded investment	442
Loans, Average recorded investment	442
Commercial | Commercial real estate
Impaired
Loans with related allowance for loan losses, Average recorded investment	935	187
Loans with no related allowance for loan losses, Average recorded investment	618	672
Loans, Average recorded investment	1,553	859
Loans with related allowance for loan losses, Interest income		7
Loans, Interest income		7
Consumer | Real estate first mortgage
Impaired
Loans with no related allowance for loan losses, Average recorded investment	575	23
Loans, Average recorded investment	575	23
Consumer | Real estate junior lien
Impaired
Loans with no related allowance for loan losses, Average recorded investment	191	98
Loans, Average recorded investment	191	98
Consumer | Other revolving and installment
Impaired
Loans with no related allowance for loan losses, Average recorded investment	1	1
Loans, Average recorded investment	$ 1	$ 1

Land, Premises and Equipment,_3

Land, Premises and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Land, Premises and Equipment, Net
Land, Premises and Equipment	$ 69,457	$ 69,837
Less accumulated depreciation	(51,517)	(52,549)
Total	17,940	17,288
Depreciation expense	2,500	3,000	$ 3,600
Land
Land, Premises and Equipment, Net
Land, Premises and Equipment	4,542	4,542
Buildings and improvements
Land, Premises and Equipment, Net
Land, Premises and Equipment	28,172	26,625
Leasehold improvements
Land, Premises and Equipment, Net
Land, Premises and Equipment	2,657	2,657
Furniture, fixtures, and equipment
Land, Premises and Equipment, Net
Land, Premises and Equipment	$ 34,086	$ 36,013

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill
Total goodwill	$ 46,783	$ 47,087
Banking
Goodwill
Total goodwill	35,260	35,260
Retirement and Benefit Services
Goodwill
Total goodwill	$ 11,523	$ 11,827

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill
Gross Carrying Amount	$ 49,015	$ 49,015
Accumulated Amortization	(31,857)	(26,560)
Total	17,158	22,455
Intangible amortization expense	5,296	4,754	$ 4,380
Goodwill reduction	304
Identifiable customer intangibles
Goodwill
Gross Carrying Amount	41,423	41,423
Accumulated Amortization	(29,959)	(25,927)
Total	11,464	15,496
Core deposit intangible assets
Goodwill
Gross Carrying Amount	7,592	7,592
Accumulated Amortization	(1,898)	(633)
Total	$ 5,694	$ 6,959

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Amortization expense for Future Years (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Other Intangible Assets
2024	$ 5,043
2025	3,904
2026	2,275
2027	2,275
2028	1,642
Thereafter	2,019
Total	$ 17,158	$ 22,455

Loan Servicing (Details)

Loan Servicing (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Loan Servicing
Loans serviced for others	$ 190,000	$ 213,500
Servicing Asset at Fair Value, Amount
Balance at beginning of year	2,643	1,880	$ 1,987
Additions	300	1,538	1,553
Amortization	(595)	(524)	(745)
Balance, end of period	2,348	2,894	2,795
Less valuation reserve	(296)	(251)	(915)
Balance at end of year, net of valuation reserve	2,052	2,643	1,880
Servicing Asset at Fair Value, Amount, Beginning Balance	2,314	1,892	2,137
Servicing Asset at Fair Value, Amount, Ending Balance	$ 2,062	$ 2,314	$ 1,892

Loan Servicing - Key economic a

Loan Servicing - Key economic assumptions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Loan Servicing
Fair value of servicing rights	$ 2,052	$ 2,643
Weighted-average remaining term, years	18 years 9 months 18 days	20 years 6 months
Prepayment speeds	6.20%	6.90%
Discount rate	11.10%	10.50%

Leases - Lease right-of-use ass

Leases - Lease right-of-use assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Lease Right-of-Use Assets
Operating lease right-of-use assets	$ 5,436	$ 5,419
Operating lease liabilities	$ 5,751	$ 5,902

Leases - Weighted-average remai

Leases - Weighted-average remaining lease term and average discount rate (Details) - item	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases
Minimum number of options to renew lease agreements	1
Weighted-average remaining lease term, Operating leases	7 years 3 months 18 days	5 years
Weighted-average discount rate, Operating leases	3.90%	3.10%

Leases - Lease costs and other

Leases - Lease costs and other lease information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease costs
Operating lease cost	$ 1,914	$ 1,799	$ 1,827
Variable lease cost	1,159	899	823
Short-term lease cost	167	217	181
Finance lease cost
Interest on lease liabilities		7	25
Amortization of right-of-use assets		87	116
Sublease Income	(219)	(238)	(228)
Net lease cost	3,021	2,771	2,744
Cash paid for amounts included in the measurement of lease liabilities operating cash flows from operating leases	1,755	1,706	1,763
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 1,868	$ 4,266	$ 267

Leases - Future minimum payment

Leases - Future minimum payments for leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating leases
December 31, 2024	$ 1,626
December 31, 2025	1,243
December 31, 2026	1,064
December 31, 2027	516
December 31, 2028	311
Thereafter	1,831
Total future minimum lease payments	6,591
Amounts representing interest	(840)
Total operating lease liabilities	$ 5,751	$ 5,902

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Assets
Federal Reserve Bank stock	$ 4,623	$ 4,595
Foreclosed assets	32	30
Prepaid expenses	5,766	6,770
Investments in partnerships	14	14
Trust fees accrued/receivable	13,510	14,684
Income tax refund receivable	11,561	2,856
Federal Home Loan Bank stock	16,566	19,362
Derivative instruments	8,943	6,333
Tax credit investments	16,512	17,642
Other assets	5,905	3,426
Total	$ 83,432	$ 75,712

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deposits.
Noninterest-bearing	$ 728,082	$ 860,987
Interest-bearing demand	840,711	706,275
Savings accounts	82,485	99,882
Money market savings	1,032,771	1,035,981
Time deposits	411,562	212,359
Total interest-bearing	2,367,529	2,054,497
Total deposits	3,095,611	2,915,484
Deposit overdrafts	140	202
Certificates of deposit in excess of $250,000	$ 121,800	$ 51,100

Deposits - Scheduled maturities

Deposits - Scheduled maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deposits.
2024	$ 386,419
2025	11,536
2026	6,775
2027	1,856
2028	688
Thereafter	4,288
Total	$ 411,562	$ 212,359

Short-Term Borrowings (Details)

Short-Term Borrowings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Short-term borrowings
Balance as of end of period	$ 314,170	$ 378,080
Federal Funds Purchased
Short-term borrowings
Balance as of end of period	114,170	153,080
Average daily balance	287,768	63,296	$ 3
Maximum month-end balance	$ 492,060	$ 251,880
During period	5.31%	2.46%
End of period	5.51%	4.26%
FHLB short-term advances
Short-term borrowings
Balance as of end of period	$ 200,000	$ 225,000
Average daily balance	113,973	89,932
Maximum month-end balance	$ 200,000	$ 225,000
During period	5.39%	3.10%
End of period	5.50%	4.31%

Short-Term Borrowings - Narrati

Short-Term Borrowings - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Federal Funds Purchased
Short-term borrowings
Unsecured maximum borrowing capacity	$ 87	$ 87
Outstanding credit facility	0	0
FHLB short-term advances
Short-term borrowings
Outstanding credit facility	706.6	$ 531.6
Unsecured Line Of Credit With Bank of North Dakota
Short-term borrowings
Unused line of credit	$ 20

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Long-Term Debt
Face Value	$ 60,310	$ 60,310
Carrying Amount	58,956	58,843
Subordinated notes payable
Long-Term Debt
Face Value	50,000	50,000
Carrying Amount	$ 50,000	$ 50,000
Fixed interest rate	3.50%	3.50%
Junior subordinated debenture (Trust I)
Long-Term Debt
Face Value	$ 4,124	$ 4,124
Carrying Amount	$ 3,583	$ 3,537
Interest Rate	0.26%	3.10%
Debt instrument, adjustment, variable rate	3.10%
Period End Interest Rate	8.72%	7.82%
Junior subordinated debenture (Trust II)
Long-Term Debt
Face Value	$ 6,186	$ 6,186
Carrying Amount	$ 5,373	$ 5,306
Interest Rate	0.26%	1.80%
Debt instrument, adjustment, variable rate	1.80%
Period End Interest Rate	7.45%	6.57%

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial Instruments with Off-Balance Sheet Risk
Off-balance sheet risk	$ 952,458	$ 819,520
Commitments to extend credit
Financial Instruments with Off-Balance Sheet Risk
Off-balance sheet risk	942,413	806,431
Standby letters of credit
Financial Instruments with Off-Balance Sheet Risk
Off-balance sheet risk	$ 10,045	$ 13,089

Commitments and Contingencies -

Commitments and Contingencies -Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($) item
Financial Instruments with Off-Balance Sheet Risk
Allowance for credit loss	$ 7,400	$ 3,200
Provision for off-balance sheet credit loss	2,200
Unfunded commitments
Financial Instruments with Off-Balance Sheet Risk
Allowance for credit loss	7,400	3,244
Provision for off-balance sheet credit loss	$ 2,300
Unfunded commitments | Adoption of CECL
Financial Instruments with Off-Balance Sheet Risk
Allowance for credit loss		$ 1,900
Letter of credit with FHLB
Financial Instruments with Off-Balance Sheet Risk
Number of letter of credit outstanding | item	0	0
Letter of credit with Bank of North Dakota
Financial Instruments with Off-Balance Sheet Risk
Number of letter of credit outstanding | item	1	0
Outstanding letters of credit	$ 182,000
Collateralized loans	$ 454,600	$ 215,500

Share-Based Compensation Plan -

Share-Based Compensation Plan - Plan Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 06, 2019
Restricted stock awards
Share-Based Compensation
Number of unvested units outstanding	120,497	128,267
Restricted stock units
Share-Based Compensation
Number of unvested units outstanding	111,160	110,219
2019 Equity Incentive Plan
Share-Based Compensation
Awards authorized				1,100,000
Compensation expense	$ 1.6	$ 1.9	$ 3.1
2019 Equity Incentive Plan | Restricted stock awards
Share-Based Compensation
Number of shares available for grant	779,307

Share-Based Compensation Plan_2

Share-Based Compensation Plan - Activity in stock (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock Awards and Units.
Restricted Stock Awards and Units
Outstanding at beginning of period	238,486	260,850
Granted	117,706	102,265
Vested	(98,138)	(113,562)
Forfeited or cancelled	(26,397)	(11,067)
Outstanding at end of period	231,657	238,486
Weighted Average Grant Date Fair Value
Outstanding at beginning of period	$ 23.65	$ 21.04
Granted	19.95	25.44
Vested	21.44	19.25
Forfeited or cancelled	21.33	23.90
Outstanding at end of period	$ 22.96	$ 23.65
Additional disclosures
Unrecognized compensation cost	$ 2.7	$ 2.5
Weighted average period	2 years 3 months 18 days	2 years 8 months 12 days
Restricted stock awards
Restricted Stock Awards and Units
Outstanding at beginning of period	128,267
Outstanding at end of period	120,497	128,267
Restricted stock units
Restricted Stock Awards and Units
Outstanding at beginning of period	110,219
Outstanding at end of period	111,160	110,219

Employee Benefits - Deferral Pe

Employee Benefits - Deferral Percentages (Details)	12 Months Ended
	Dec. 31, 2023 plan shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares
Employee Benefits
Number of employee retirement plans | plan	2
401K Plan
Employee Benefits
Company contribution percentage of amounts deferred by employee's up to 3% of compensation	100%
Company contribution percentage of amounts deferred by employee's between 3%-6% of compensation	50%
401K Plan | Minimum
Employee Benefits
Percentage of eligible compensation	3%
401K Plan | Maximum
Employee Benefits
Percentage of eligible compensation	6%
ESOP
Employee Benefits
Unallocated ESOP shares outstanding | shares	0	0	0

Employee Benefits - Retirement

Employee Benefits - Retirement plan contribution (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee Benefits
Retirement plan contributions	$ 4,537	$ 5,080	$ 5,137
Total ESOP shares outstanding	1,152,017	1,111,424	1,207,952
Salary Reduction Plan
Employee Benefits
Retirement plan contributions	$ 2,933	$ 3,148	$ 3,123
ESOP
Employee Benefits
Retirement plan contributions	$ 1,604	$ 1,932	$ 2,014

Noninterest Income (Details)

Noninterest Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Noninterest income
Mortgage banking	$ 8,411	$ 16,921	$ 48,502
Net gains (losses) on investment securities	(24,643)		125
Bank-owned life insurance income	877	836	793
Total noninterest income	80,229	111,223	147,387
Retirement and benefit services
Noninterest income
Revenue	65,294	67,135	71,709
Wealth management
Noninterest income
Revenue	21,855	20,870	21,052
Deposit Account
Noninterest income
Revenue	1,280	1,434	1,395
Interchange fees
Noninterest income
Revenue	2,222	2,246	2,180
Misc. transactional fees
Noninterest income
Revenue	1,433	1,429	1,218
Other noninterest income
Noninterest income
Revenue	$ 3,500	$ 352	$ 413

Noninterest Income - Contract C

Noninterest Income - Contract Costs (Details)	12 Months Ended
	Dec. 31, 2023
Noninterest Income
Revenue, Practical Expedient, Incremental Cost of Obtaining Contract	true

Income Taxes - Components (Deta

Income Taxes - Components (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Federal
Current	$ 851	$ 9,005	$ 10,731
Deferred	1,151	727	2,212
Federal income tax	2,002	9,732	12,943
State
Current	2,415	2,298	2,879
Deferred	(259)	147	574
State income tax	2,156	2,445	3,453
Applicable income taxes	$ 4,158	$ 12,177	$ 16,396

Income Taxes - Deferred tax ass

Income Taxes - Deferred tax assets and deferred tax liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets
Allowance for loan losses	$ 9,002	$ 7,818
Employee compensation and benefit accruals	2,253	2,455
Expense accruals	327	417
Identifiable intangible amortization	2,176	3,363
Deferred loan fees	931	1,665
Net operating loss carry forwards		3
Nonaccrual loan interest	143	74
Unrealized loss on available-for-sale investment securities	24,548	33,056
Unrealized loss on derivative and hedge instruments	135
Unfunded commitment liability	1,913	814
Operating lease liabilities	1,486
Other	129	70
Total deferred tax assets from temporary differences	43,043	49,735
Deferred Tax Liabilities
Accumulated depreciation	737	835
Goodwill and intangible amortization	3,840	5,115
Servicing assets	530	663
Prepaid expenses	1,188	552
Operating lease right-of-use assets	1,539
Other	614	201
Total deferred tax liabilities from temporary differences	8,448	7,366
Net Deferred Tax Assets	$ 34,595	$ 42,369

Income Taxes - Reconciliation b

Income Taxes - Reconciliation between applicable income taxes and statutory federal tax rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Tax amount
Taxes at statutory federal income tax rate	$ 3,329	$ 10,958	$ 14,506
Tax exempt income	(715)	(514)	(556)
State income taxes, net of federal benefits	715	2,297	2,973
Nondeductible items and other	829	(564)	(527)
Applicable income taxes	$ 4,158	$ 12,177	$ 16,396
Percentage of pretax income
Taxes at statutory federal income tax rate (as percentage)	21%	21%	21%
Tax exempt income (as percentage)	(4.50%)	(1.00%)	(0.80%)
State income taxes, net of federal benefits (as percentage)	4.50%	4.40%	4.30%
Nondeductible items and other (as percentage)	5.20%	(1.10%)	(0.80%)
Applicable income taxes (as percentage)	26.20%	23.30%	23.70%

Tax Credit Investments - Tax cr

Tax Credit Investments - Tax credits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Tax Credit Investments [Line items]
Investment	$ 17,906	$ 17,906
Unfunded Commitment	12,347	15,559
Proportional amortization
Tax Credit Investments [Line items]
Investment	17,906	17,906
Unfunded Commitment	$ 12,347	$ 15,559

Tax Credit Investments - Amorti

Tax Credit Investments - Amortization expense and tax benefit recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Tax Credit Investments [Line items]
Intangible amortization expense	$ 5,296	$ 4,754	$ 4,380
Income tax benefit	4,158	12,177	$ 16,396
Housing projects
Tax Credit Investments [Line items]
Intangible amortization expense	1,130	264
Income tax benefit	(1,418)	(373)
Low income housing tax credit | Housing projects
Tax Credit Investments [Line items]
Intangible amortization expense	1,130	264
Income tax benefit	$ (1,418)	$ (373)

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) item segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting
Number of operating segments | segment	4
Number of banking offices | item	15
Key metrics related to segments
Net interest income (loss)	$ 87,839	$ 99,729	$ 87,099
Provision for credit losses	2,057		(3,500)
Noninterest income (loss)	80,229	111,223	147,387
Noninterest expense	150,157	158,770	168,909
Net income (loss) before taxes	15,854	52,182	69,077
Total assets	3,907,713	3,779,637	3,392,691
Corporate Administration
Key metrics related to segments
Net interest income (loss)	(2,681)	(2,340)	(1,896)
Noninterest income (loss)	97	98	33
Noninterest expense	7,744	7,655	8,897
Net income (loss) before taxes	(10,328)	(9,897)	(10,760)
Total assets	34,879	26,556	13,402
Banking | Operating Segments
Key metrics related to segments
Net interest income (loss)	89,693	100,190	87,014
Provision for credit losses	2,057		(3,500)
Noninterest income (loss)	(15,428)	6,199	6,091
Noninterest expense	61,023	62,789	53,121
Net income (loss) before taxes	11,185	43,600	43,484
Total assets	3,821,989	3,697,608	3,254,979
Retirement and Benefit Services | Operating Segments
Key metrics related to segments
Noninterest income (loss)	65,294	67,135	71,709
Noninterest expense	53,307	55,178	55,802
Net income (loss) before taxes	11,987	11,957	15,907
Total assets	34,352	40,821	44,953
Wealth Management | Operating Segments
Key metrics related to segments
Noninterest income (loss)	21,855	20,870	21,052
Noninterest expense	13,477	11,876	11,571
Net income (loss) before taxes	8,378	8,994	9,481
Total assets	4,757	4,032	3,644
Mortgage | Operating Segments
Key metrics related to segments
Net interest income (loss)	827	1,879	1,981
Noninterest income (loss)	8,411	16,921	48,502
Noninterest expense	14,606	21,272	39,518
Net income (loss) before taxes	(5,368)	(2,472)	10,965
Total assets	$ 11,736	$ 10,620	$ 75,713

Earnings Per Share - Two-class

Earnings Per Share - Two-class method (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share
Net Income (Loss)	$ 11,696	$ 40,005	$ 52,681
Dividends and undistributed earnings allocated to participating securities	(5)	416	802
Net income available to common stockholders	$ 11,701	$ 39,589	$ 51,879
Weighted-average common shares outstanding for basic earnings per share	19,922	18,640	17,189
Dilutive effect of stock-based awards	221	244	297
Weighted-average common shares outstanding for diluted earnings per share	20,143	18,884	17,486
Per Common Share Data
Basic earnings per common share	$ 0.59	$ 2.12	$ 3.02
Diluted earnings per common share	$ 0.58	$ 2.10	$ 2.97

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Related Party Transactions
Beginning balance	$ 130	$ 34
New loans and advances	1,313	145
Repayments	(665)	(95)
Changes to related parties (1)	257	46
Ending balance	1,035	130
Deposits from related parties	$ 710	$ 587

Derivative Instruments (Details

Derivative Instruments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) derivative
Derivative Instruments
Derivative Assets	$ 8,943	$ 6,333
Fair value of derivatives in net liability position	649	0
Not designated as hedging
Derivative Instruments
Derivative Assets	$ 8,512	$ 6,405
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets.	Other Assets.
Derivative liabilities	$ 8,531	$ 6,303
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities
Notional Amount, Derivative Assets	$ 128,987	$ 54,243
Notional Amount, Derivative Liabilities	141,171	69,180
Not designated as hedging | Interest rate swaps
Derivative Instruments
Derivative Assets	8,327	6,277
Derivative liabilities	8,348	6,277
Notional Amount, Derivative Assets	120,671	43,430
Notional Amount, Derivative Liabilities	120,671	43,430
Not designated as hedging | Interest rate lock commitments
Derivative Instruments
Derivative Assets	179	121
Notional Amount, Derivative Assets	8,126	10,462
Not designated as hedging | Forward loan sales commitments
Derivative Instruments
Derivative Assets	6	7
Notional Amount, Derivative Assets	190	351
Not designated as hedging | To-be-announced mortgage backed securities
Derivative Instruments
Derivative liabilities	183	26
Notional Amount, Derivative Liabilities	20,500	$ 25,750
Designated as hedging instruments
Derivative Instruments
Derivative liabilities	$ 649
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities and Other Liabilities
Notional Amount, Derivative Assets	$ 800,000
Designated as hedging instruments | Interest rate swaps | Cash flow hedging
Derivative Instruments
Derivative Assets	297
Notional Amount, Derivative Assets	200,000
Number of derivatives held | derivative		0
Cash flow hedge gain to be reclassified within 12 months	$ 300
Term of interest rate swap	12 months
Designated as hedging instruments | Interest rate swaps | Fair value hedging
Derivative Instruments
Derivative Assets	$ 352
Notional Amount, Derivative Assets	$ 600,000

Derivative Instruments - Deriva

Derivative Instruments - Derivatives designated as hedging instruments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Derivative Instruments
Gains (Losses) Recognized in Other Comprehensive Income (Loss)	$ 117
Gains (Losses) Reclassified from Other Comprehensive Income (Loss) into Earnings	354
Designated as hedging instruments | Cash flow hedging | Interest rate swaps
Derivative Instruments
Gains (Losses) Recognized in Other Comprehensive Income (Loss)	176
Gains (Losses) Reclassified from Other Comprehensive Income (Loss) into Earnings	$ 473

Derivative Instruments - Locati

Derivative Instruments - Location and Amount of Gains (Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments
Loans, including fees	$ 136,918	$ 89,907	$ 78,133
Investment securities - Taxable	24,262	23,260	$ 13,001
Short-term borrowings	20,976	$ 4,339
Designated as hedging instruments
Derivative Instruments
Loans, including fees	136,918
Investment securities - Taxable	24,262
Short-term borrowings	20,976
Designated as hedging instruments | Cash flow hedging | Interest rate swaps
Derivative Instruments
Short-term borrowings	(473)
Designated as hedging instruments | Fair value hedging | Interest rate swaps
Derivative Instruments
Loans, including fees	252
Investment securities - Taxable	$ 1,881

Derivative Instruments - Hedged

Derivative Instruments - Hedged assets and liabilities in fair value (Details) - Designated as hedging instruments $ in Thousands	Dec. 31, 2023 USD ($)
Derivative Instruments
Notional amount	$ 600,000
Carrying Amount of Hedged Assets / Liabilities	600,339
Cumulative Fair Value Hedging Adjustment in the Carrying Amount of Hedged Assets / Liabilities	339
Mortgage backed securities - Residential agency
Derivative Instruments
Notional amount	200,000
Carrying Amount of Hedged Assets / Liabilities	200,241
Cumulative Fair Value Hedging Adjustment in the Carrying Amount of Hedged Assets / Liabilities	241
Amortized cost	323,400
Mortgage Loan Pools
Derivative Instruments
Notional amount	400,000
Carrying Amount of Hedged Assets / Liabilities	400,098
Cumulative Fair Value Hedging Adjustment in the Carrying Amount of Hedged Assets / Liabilities	98
Amortized cost	$ 687,500

Derivative Instruments - Gain (

Derivative Instruments - Gain (loss) recognized on derivatives instruments (Details) - Not designated as hedging - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gain (loss) recognized on derivative instruments
Total gain/(loss) from derivative instruments	$ 262	$ 2,971	$ (5,613)
Interest rate swaps
Gain (loss) recognized on derivative instruments
Total gain/(loss) from derivative instruments	(20)	2	1
Interest rate lock commitments
Gain (loss) recognized on derivative instruments
Total gain/(loss) from derivative instruments	165	(1,464)	(8,660)
Forward loan sales commitments
Gain (loss) recognized on derivative instruments
Total gain/(loss) from derivative instruments	(1)	(483)	(2,174)
To-be-announced mortgage backed securities
Gain (loss) recognized on derivative instruments
Total gain/(loss) from derivative instruments	$ 118	$ 4,916	$ 5,220

Derivative Instruments - Collat

Derivative Instruments - Collateral (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments
Collateral held by third parties	$ 550	$ 309
Fair value of derivatives in net liability position	649	0
Termination value if provisions are breached	$ 649	$ 0

Derivative Instruments - Deri_2

Derivative Instruments - Derivative positions and the potential effect (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivative assets:
Gross Amount Recognized in the Consolidated Balance Sheets	$ 8,327	$ 6,277
Net Amount Presented in the Consolidated Balance Sheets	8,327	6,277
Gross Amount Not Offset in the Consolidated Balance Sheets	(1,740)	(6,030)
Net Amount	6,587	247
Derivative liabilities:
Gross Amount Recognized in the Consolidated Balance Sheets	9,180	6,303
Net Amount Presented in the Consolidated Balance Sheets	9,180	6,303
Gross Amount Not Offset in the Consolidated Balance Sheets	550	309
Net Amount	8,630	5,994
Interest Rate Swap By Company
Derivative liabilities:
Gross Amount Recognized in the Consolidated Balance Sheets	649
Net Amount Presented in the Consolidated Balance Sheets	649
Gross Amount Not Offset in the Consolidated Balance Sheets	550
Net Amount	99
Interest Rate Swap By Dealer Bank
Derivative assets:
Gross Amount Recognized in the Consolidated Balance Sheets	8,327	6,277
Net Amount Presented in the Consolidated Balance Sheets	8,327	6,277
Gross Amount Not Offset in the Consolidated Balance Sheets	(1,740)	(6,030)
Net Amount	6,587	247
Interest Rate Swap By Customer
Derivative liabilities:
Gross Amount Recognized in the Consolidated Balance Sheets	8,348	6,277
Net Amount Presented in the Consolidated Balance Sheets	8,348	6,277
Gross Amount Not Offset in the Consolidated Balance Sheets		309
Net Amount	8,348	5,968
To-be-announced mortgage backed securities
Derivative liabilities:
Gross Amount Recognized in the Consolidated Balance Sheets	183	26
Net Amount Presented in the Consolidated Balance Sheets	183	26
Net Amount	$ 183	$ 26

Regulatory Matters (Details)

Regulatory Matters (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Common equity tier 1 capital to risk weighted assets
Actual (Amount)	$ 382,578	$ 389,335
Requirements for Capital Adequacy Purposes (Amount)	$ 145,605	$ 130,862
Actual (Ratio)	0.1182	0.1339
Requirements for Capital Adequacy Purposes (Ratio)	0.0450	0.0450
Tier 1 capital to risk weighted assets
Actual (Amount)	$ 391,534	$ 398,179
Requirements for Capital Adequacy Purposes (Amount)	$ 194,139	$ 174,482
Actual (Ratio)	0.1210	0.1369
Requirements for Capital Adequacy Purposes (Ratio)	0.0600	0.0600
Total capital to risk weighted assets
Actual (Amount)	$ 477,590	$ 479,325
Requirements for Capital Adequacy Purposes (Amount)	$ 258,853	$ 232,643
Actual (Ratio)	0.1476	0.1648
Requirements for Capital Adequacy Purposes (Ratio)	0.0800	0.0800
Tier 1 capital to average assets
Actual (Amount)	$ 391,534	$ 398,179
Requirements for Capital Adequacy Purposes (Amount)	$ 148,111	$ 141,514
Actual (Ratio)	0.1057	0.1125
Requirements for Capital Adequacy Purposes (Ratio)	0.0400	0.0400
Bank
Common equity tier 1 capital to risk weighted assets
Actual (Amount)	$ 367,445	$ 370,749
Requirements for Capital Adequacy Purposes (Amount)	145,101	130,791
Minimum to be Well Capitalized Under Prompt Corrective Action (Amount)	$ 209,590	$ 188,920
Actual (Ratio)	0.1140	0.1276
Requirements for Capital Adequacy Purposes (Ratio)	0.0450	0.0450
Minimum to be Well Capitalized Under Prompt Corrective Action (Ratio)	0.0650	0.0650
Tier 1 capital to risk weighted assets
Actual (Amount)	$ 367,445	$ 370,749
Requirements for Capital Adequacy Purposes (Amount)	193,468	174,388
Minimum to be Well Capitalized Under Prompt Corrective Action (Amount)	$ 257,957	$ 232,517
Actual (Ratio)	0.1140	0.1276
Requirements for Capital Adequacy Purposes (Ratio)	0.0600	0.0600
Minimum to be Well Capitalized Under Prompt Corrective Action (Ratio)	0.0800	0.0800
Total capital to risk weighted assets
Actual (Amount)	$ 403,501	$ 401,895
Requirements for Capital Adequacy Purposes (Amount)	257,957	232,517
Minimum to be Well Capitalized Under Prompt Corrective Action (Amount)	$ 322,446	$ 290,646
Actual (Ratio)	0.1251	0.1383
Requirements for Capital Adequacy Purposes (Ratio)	0.0800	0.0800
Minimum to be Well Capitalized Under Prompt Corrective Action (Ratio)	0.1000	0.1000
Tier 1 capital to average assets
Actual (Amount)	$ 367,445	$ 370,749
Requirements for Capital Adequacy Purposes (Amount)	148,186	141,440
Minimum to be Well Capitalized Under Prompt Corrective Action (Amount)	$ 185,232	$ 176,800
Actual (Ratio)	0.0992	0.1048
Requirements for Capital Adequacy Purposes (Ratio)	0.0400	0.0400
Minimum to be Well Capitalized Under Prompt Corrective Action (Ratio)	0.0500	0.0500

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) - Changes in the components of other comprehensive income and loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Securities: Pre-Tax Amount
Net change in unrealized gains (losses) on debt securities	$ 58,868	$ (125,634)	$ (19,433)
Less: reclassification adjustment from amortization of securities transferred from AFS to HTM (1)	(328)	(382)	(326)
Reclassification adjustment for losses (gains) realized in income	(24,643)
Net change	33,897	(126,016)	(19,759)
Debt Securities: Tax (Expense) Benefit
Change in fair value	(14,775)	31,534	4,878
Less: reclassification adjustment from amortization of securities transferred from AFS to HTM (1)	82	96	82
Less: reclassification adjustment for net realized losses (2)	6,185
Net change	(8,508)	31,630	4,960
Debt Securities: After-Tax Amount
Change in fair value	44,093	(94,100)	(14,555)
Less: reclassification adjustment from amortization of securities transferred from AFS to HTM (1)	(246)	(286)	(244)
Less: reclassification adjustment for net realized losses (2)	(18,458)
Net change	25,389	(94,386)	(14,799)
Cash Flow Hedges: Pre-Tax Amount
Net change in unrealized gain (losses) on cash flow hedging derivatives	176
Less: reclassified AOCI gain (loss) into interest expense (3)	(473)
Net change	(297)
Cash Flow Hedges: Tax (Expense) Benefit
Change in fair value	(59)
Less: reclassified AOCI gain (loss) into interest expense (3)	119
Net change	60
Cash Flow Hedges: After-Tax Amount
Gains (Losses) Recognized in Other Comprehensive Income (Loss)	117
Gains (Losses) Reclassified from Other Comprehensive Income (Loss) into Earnings	(354)
Net change	(237)
Other Derivatives: Pre-Tax Amount
Change in fair value	(241)		(125)
Net change	(241)		(125)
Other Derivatives: Tax (Expense) Benefit
Change in fair value	75		31
Net change	75		31
Other Derivatives: After-Tax Amount
Change in fair value	(166)		(94)
Net change	(166)		(94)
Total other comprehensive income (loss), before tax	33,359	(126,016)	(19,884)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent, Total	(8,373)	31,630	4,991
Other comprehensive income (loss), net of tax	$ 24,986	$ (94,386)	$ (14,893)

Other Comprehensive Income (L_4

Other Comprehensive Income (Loss) - AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI
Beginning balance	$ (98,641)
Other comprehensive income (loss)	24,986	$ (94,386)	$ (14,893)
Ending balance	(73,655)	(98,641)
Net Unrealized Gains (Losses) on Debt Securities
AOCI
Beginning balance	(98,547)	(4,161)	10,638
Other comprehensive income (loss) before reclassifications	44,093	(94,100)	(14,555)
Less: Amounts reclassified from AOCI	(18,704)	(286)	(244)
Other comprehensive income (loss)	25,389	(94,386)	(14,799)
Ending balance	(73,158)	(98,547)	(4,161)
Net Unrealized Gains (Losses) on Cash Flow Hedges
AOCI
Other comprehensive income (loss) before reclassifications	117
Less: Amounts reclassified from AOCI	(354)
Other comprehensive income (loss)	(237)
Ending balance	(237)
Net Unrealized Gains (Losses) on Other Derivatives
AOCI
Beginning balance	(94)	(94)
Other comprehensive income (loss) before reclassifications	(166)
Less: Amounts reclassified from AOCI			(94)
Other comprehensive income (loss)	(166)		(94)
Ending balance	(260)	(94)	(94)
AOCI
AOCI
Beginning balance	(98,641)	(4,255)	10,638
Other comprehensive income (loss) before reclassifications	44,044	(94,100)	(14,555)
Less: Amounts reclassified from AOCI	(19,058)	(286)	(338)
Other comprehensive income (loss)	24,986	(94,386)	(14,893)
Ending balance	$ (73,655)	$ (98,641)	$ (4,255)

Stock Repurchase Program (Detai

Stock Repurchase Program (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 12, 2023	Feb. 18, 2021
Stock Repurchase Program
Number of shares authorized for repurchase		1,000,000	770,000
Shares repurchased	356,474

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities - Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	$ 486,736	$ 717,324
Derivative Assets	8,943	6,333
U.S. treasury and government agencies
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	1,120	3,520
Mortgage backed securities - Residential agency
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	435,594	587,679
Mortgage backed securities - Commercial
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	1,353	63,558
Asset backed securities
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	25	34
Corporate bonds
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	48,644	62,533
Recurring
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	486,736	717,324
Derivative Assets	8,512	6,405
Derivative liabilities	9,180	6,303
Recurring | U.S. treasury and government agencies
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	1,120	3,520
Recurring | Mortgage backed securities - Residential agency
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	435,594	587,679
Recurring | Mortgage backed securities - Commercial
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	1,353	63,558
Recurring | Asset backed securities
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	25	34
Recurring | Corporate bonds
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	48,644	62,533
Recurring | Level 2
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	486,736	717,324
Derivative Assets	8,512	6,405
Derivative liabilities	9,180	6,303
Recurring | Level 2 | U.S. treasury and government agencies
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	1,120	3,520
Recurring | Level 2 | Mortgage backed securities - Residential agency
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	435,594	587,679
Recurring | Level 2 | Mortgage backed securities - Commercial
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	1,353	63,558
Recurring | Level 2 | Asset backed securities
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	25	34
Recurring | Level 2 | Corporate bonds
Fair value, assets and liabilities measured on recurring and non recurring basis
Available-for-sale, at fair value (amortized cost of $584,754 and $849,567, respectively)	$ 48,644	$ 62,533

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities - Nonrecurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair value, assets and liabilities measured on recurring and non recurring basis
Servicing rights	$ 2,062	$ 2,314	$ 1,892	$ 2,137
Non recurring
Fair value, assets and liabilities measured on recurring and non recurring basis
Collateral dependent loans	3,998	2,813
Foreclosed assets	32	30
Servicing rights	2,052	2,643
Non recurring | Level 3
Fair value, assets and liabilities measured on recurring and non recurring basis
Collateral dependent loans	3,998	2,813
Foreclosed assets	32	30
Servicing rights	$ 2,052	$ 2,643

Fair Value of Assets and Liab_5

Fair Value of Assets and Liabilities - Valuation Technique (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Valuation techniques and significant unobservable inputs
Servicing rights	$ 2,062	$ 2,314	$ 1,892	$ 2,137
Level 3 | Impaired loans | Appraisal value | Property specific adjustment
Valuation techniques and significant unobservable inputs
Individually evaluated	$ 3,998	$ 2,813
Impaired Loans, Measurement Input	0.100	0.100
Level 3 | Impaired loans | Appraisal value | Property specific adjustment | Weighted average
Valuation techniques and significant unobservable inputs
Impaired Loans, Measurement Input	0.100	0.100
Level 3 | Foreclosed assets | Appraisal value | Property specific adjustment
Valuation techniques and significant unobservable inputs
Foreclosed assets	$ 32	$ 30
Discount taken on Foreclosed assets balances	$ 0	$ 0
Level 3 | Servicing rights
Valuation techniques and significant unobservable inputs
Servicing Asset, Valuation Technique [Extensible List]	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Level 3 | Servicing rights | Prepayment speed assumptions
Valuation techniques and significant unobservable inputs
Servicing rights	$ 2,052	$ 2,643
Level 3 | Servicing rights | Prepayment speed assumptions | Minimum
Valuation techniques and significant unobservable inputs
Servicing Asset, Measurement Input | item	85	103
Level 3 | Servicing rights | Prepayment speed assumptions | Maximum
Valuation techniques and significant unobservable inputs
Servicing Asset, Measurement Input | item	151	137
Level 3 | Servicing rights | Prepayment speed assumptions | Weighted average
Valuation techniques and significant unobservable inputs
Servicing Asset, Measurement Input	104	115
Level 3 | Servicing rights | Discount rate
Valuation techniques and significant unobservable inputs
Servicing Asset, Measurement Input	0.111	0.105
Level 3 | Servicing rights | Discount rate | Weighted average
Valuation techniques and significant unobservable inputs
Servicing Asset, Measurement Input	0.111	0.105

Fair Value of Assets and Liab_6

Fair Value of Assets and Liabilities - Off-Balance Sheet Credit-Related Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial Assets
Investment securities held-to-maturity	$ 258,617	$ 270,912
Carrying Amount
Financial Assets
Cash and cash equivalents	129,893	58,242
Investment securities held-to-maturity	299,515	321,902
Loans, net	2,723,740	2,412,848
Accrued interest receivable	15,700	12,869
Bank-owned life insurance	33,236	33,991
Financial Liabilities
Noninterest-bearing deposits	728,082	860,987
Interest-bearing deposits	1,955,967	1,842,138
Time deposits	411,562	212,359
Short-term borrowings	314,170	378,080
Long-term debt	58,956	58,843
Accrued interest payable	6,826	2,426
Estimated Fair Value
Financial Assets
Cash and cash equivalents	129,893	58,242
Investment securities held-to-maturity	258,617	270,912
Loans, net	2,590,535	2,311,956
Accrued interest receivable	15,700	12,869
Bank-owned life insurance	33,236	33,991
Financial Liabilities
Noninterest-bearing deposits	728,082	860,987
Interest-bearing deposits	1,955,967	1,842,138
Time deposits	408,910	208,550
Short-term borrowings	314,170	378,080
Long-term debt	57,437	56,116
Accrued interest payable	6,826	2,426
Level 1 | Estimated Fair Value
Financial Assets
Cash and cash equivalents	129,893	58,242
Accrued interest receivable	15,700	12,869
Financial Liabilities
Short-term borrowings	314,170	378,080
Accrued interest payable	6,826	2,426
Level 2 | Estimated Fair Value
Financial Assets
Investment securities held-to-maturity	258,617	270,912
Bank-owned life insurance	33,236	33,991
Financial Liabilities
Noninterest-bearing deposits	728,082	860,987
Interest-bearing deposits	1,955,967	1,842,138
Time deposits	408,910	208,550
Long-term debt	57,437	56,116
Level 3 | Estimated Fair Value
Financial Assets
Loans, net	$ 2,590,535	$ 2,311,956

Parent Company Only Financial_3

Parent Company Only Financial Statements - Parent Company Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 129,893	$ 58,242
Deferred income taxes, net	34,595	42,369
Other assets	83,432	75,712
Total assets	3,907,713	3,779,637	$ 3,392,691
Liabilities and Stockholders' Equity
Long-term debt	58,956	58,843
Accrued expenses and other liabilities	64,098	64,456
Total liabilities	3,538,586	3,422,765
Total stockholders' equity	369,127	356,872	$ 359,403	$ 330,163
Total liabilities and stockholders' equity	3,907,713	3,779,637
Parent Company | Reportable Legal Entities
Assets
Cash and cash equivalents	70,853	84,017
Investment in subsidiaries	354,303	338,595
Deferred income taxes, net	757	904
Other assets	9,968	487
Total assets	435,881	424,003
Liabilities and Stockholders' Equity
Long-term debt	58,956	58,843
Accrued expenses and other liabilities	7,798	8,288
Total liabilities	66,754	67,131
Total stockholders' equity	369,127	356,872
Total liabilities and stockholders' equity	$ 435,881	$ 424,003

Parent Company Only Financial_4

Parent Company Only Financial Statements - Parent Company Condensed Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total interest income	$ 164,883	$ 115,577	$ 92,657
Expenses	77,044	15,848	5,558
Income before income taxes	15,854	52,182	69,077
Income tax benefit	(4,158)	(12,177)	(16,396)
Net income	11,696	40,005	52,681
Parent Company | Reportable Legal Entities
Dividends from subsidiaries	21,000	18,500	16,000
Other income	24	16	4
Total interest income	21,024	18,516	16,004
Expenses	6,043	6,583	5,293
Income before equity in undistributed income	14,981	11,933	10,711
Equity in undistributed income of subsidiaries	(4,826)	26,424	40,642
Income before income taxes	10,155	38,357	51,353
Income tax benefit	1,541	1,648	1,328
Net income	$ 11,696	$ 40,005	$ 52,681

Parent Company Only Financial_5

Parent Company Only Financial Statements - Parent Company Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Activities
Net income	$ 11,696	$ 40,005	$ 52,681
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	8,525	8,467	8,868
Stock-based compensation cost	1,628	1,904	3,095
Net cash provided (used) by operating activities	28,982	102,966	149,832
Investing Activities
Net cash (paid) for business combinations		101,511
Net cash provided by investing activities	(52,088)	(292,622)	(417,658)
Financing Activities
Repurchase of common stock	(6,638)	(738)	(712)
Net cash provided (used) by financing activities	94,757	5,587	337,175
Net change in cash and cash equivalents	71,651	(184,069)	69,349
Cash and cash equivalents at beginning of period	58,242	242,311	172,962
Cash and cash equivalents at end of period	129,893	58,242	242,311
Parent Company | Reportable Legal Entities
Operating Activities
Net income	11,696	40,005	52,681
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed income of subsidiaries	4,826	(26,424)	(40,642)
Depreciation and amortization		87	115
Stock-based compensation cost	1,628	1,904	3,095
Other, net	(9,854)	419	1,266
Net cash provided (used) by operating activities	8,296	15,991	16,515
Investing Activities
Net cash (paid) for business combinations		(189)
Net cash provided by investing activities		(189)
Financing Activities
Cash dividends paid on common stock	(14,822)	(12,800)	(10,751)
Repurchase of common stock	(6,638)	(738)	(712)
Net cash provided (used) by financing activities	(21,460)	(13,538)	(11,463)
Net change in cash and cash equivalents	(13,164)	2,264	5,052
Cash and cash equivalents at beginning of period	84,017	81,753	76,701
Cash and cash equivalents at end of period	$ 70,853	$ 84,017	$ 81,753

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 11,696	$ 40,005	$ 52,681

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
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