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Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]  
Summary of Financial Instruments

Financial instruments as of the dates indicated were as follows:

 

 

 

 

 

 

 

 

 

Quoted Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In Active

 

 

Significant

 

 

 

 

 

 

 

 

 

 

 

 

Markets for

 

 

Other

 

 

Significant

 

 

 

 

 

 

 

 

 

Identical

 

 

Observable

 

 

Unobservable

 

(Dollars in thousands)

 

Carrying

 

 

Estimated

 

 

Assets

 

 

Inputs

 

 

Inputs

 

 

 

Amount

 

 

Fair Value

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

55,433

 

 

$

55,433

 

 

$

55,433

 

 

$

-

 

 

$

-

 

Equity securities at fair value

 

 

7,505

 

 

 

7,505

 

 

 

4,749

 

 

 

-

 

 

 

2,756

 

Securities available for sale

 

 

514,598

 

 

 

514,598

 

 

 

80,194

 

 

 

434,404

 

 

 

-

 

Securities held to maturity

 

 

407,959

 

 

 

348,791

 

 

 

-

 

 

 

335,493

 

 

 

13,298

 

Federal Home Loan Bank and Federal Reserve Bank stock

 

 

9,514

 

 

 

9,514

 

 

 

-

 

 

 

9,514

 

 

 

-

 

Loans held for sale

 

 

4,710

 

 

 

4,851

 

 

 

-

 

 

 

4,851

 

 

 

-

 

Loans, net

 

 

1,394,968

 

 

 

1,362,920

 

 

 

-

 

 

 

-

 

 

 

1,362,920

 

Accrued interest receivable

 

 

10,066

 

 

 

10,066

 

 

 

-

 

 

 

10,066

 

 

 

-

 

Interest rate lock commitments

 

 

64

 

 

 

64

 

 

 

-

 

 

 

64

 

 

 

-

 

Interest rate derivative contracts

 

 

8,880

 

 

 

8,880

 

 

 

-

 

 

 

8,880

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noninterest-bearing deposits

 

 

547,625

 

 

 

547,625

 

 

 

547,625

 

 

 

-

 

 

 

-

 

Interest-bearing deposits

 

 

1,550,985

 

 

 

1,549,386

 

 

 

-

 

 

 

1,549,386

 

 

 

-

 

Brokered deposits

 

 

23,445

 

 

 

23,435

 

 

 

-

 

 

 

23,435

 

 

 

-

 

Borrowings

 

 

200,000

 

 

 

199,743

 

 

 

-

 

 

 

199,743

 

 

 

-

 

Subordinated debentures

 

 

35,507

 

 

 

31,748

 

 

 

-

 

 

 

31,748

 

 

 

-

 

Accrued interest payable

 

 

6,223

 

 

 

6,223

 

 

 

-

 

 

 

6,223

 

 

 

-

 

Interest rate derivative contracts

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

43,943

 

 

$

43,943

 

 

$

43,943

 

 

$

-

 

 

$

-

 

Equity securities at fair value

 

 

8,566

 

 

 

8,566

 

 

 

6,024

 

 

 

-

 

 

 

2,542

 

Securities available for sale

 

 

529,749

 

 

 

529,749

 

 

 

78,204

 

 

 

451,545

 

 

 

-

 

Securities held to maturity

 

 

425,906

 

 

 

353,901

 

 

 

-

 

 

 

338,583

 

 

 

15,318

 

Federal Home Loan Bank and Federal Reserve Bank stock

 

 

8,581

 

 

 

8,581

 

 

 

-

 

 

 

8,581

 

 

 

-

 

Loans held for sale

 

 

4,834

 

 

 

4,979

 

 

 

-

 

 

 

4,979

 

 

 

-

 

Loans, net

 

 

1,182,163

 

 

 

1,123,198

 

 

 

-

 

 

 

-

 

 

 

1,123,198

 

Accrued interest receivable

 

 

8,949

 

 

 

8,949

 

 

 

-

 

 

 

8,949

 

 

 

-

 

Interest rate lock commitments

 

 

28

 

 

 

28

 

 

 

-

 

 

 

28

 

 

 

-

 

Interest rate derivative contracts

 

 

9,204

 

 

 

9,204

 

 

 

-

 

 

 

9,204

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noninterest-bearing deposits

 

 

599,579

 

 

 

599,579

 

 

 

599,579

 

 

 

-

 

 

 

-

 

Interest-bearing deposits

 

 

1,518,424

 

 

 

1,514,294

 

 

 

-

 

 

 

1,514,294

 

 

 

-

 

Borrowings

 

 

50,000

 

 

 

50,000

 

 

 

-

 

 

 

50,000

 

 

 

-

 

Subordinated debentures

 

 

35,262

 

 

 

30,304

 

 

 

-

 

 

 

30,304

 

 

 

-

 

Accrued interest payable

 

 

610

 

 

 

610

 

 

 

-

 

 

 

610

 

 

 

-

 

Interest rate derivative contracts

 

 

5,823

 

 

 

5,823

 

 

 

-

 

 

 

5,823

 

 

 

-