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Disclosures about Fair Value of Assets and Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2023
Disclosures about Fair Value of Assets and Liabilities [Abstract] |
Assets Measured at Fair Value on Nonrecurring Basis | The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2023 and December 31, 2022 (dollars in thousands):
| Fair Value |  | (Level 1) |  | (Level 2) |  | (Level 3) |
December 31, 2023 |  |  |  |  |  |  |  |
Impaired loans (collateral- dependent) |  | $ | 16,370 |  |  | $ | - |  |  | $ | - |  |  | $ | 16,370 |
Asset retirement obligations |  |  | 361 |  |  |  | - |  |  |  | - |  |  |  | 361 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans (collateral- dependent) |  | $ | 6,553 |  |  | $ | - |  |  | $ | - |  |  | $ | 6,553 |
Quantitative Information About Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements | The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements.
|  | Fair Value |  | Valuation Technique |  | Unobservable Inputs |  | Weighted- Average |
December 31, 2023 |  |  |  |  |  |  |  |  |
Collateral-dependent impaired loans |  | $ | 16,370 |  | Estimated cash to be received pending resolution of bankruptcy proceedings |  | Estimated cost to sell |  |  | 0 | %
Asset retirement obligaions |  |  | 361 |  | Expected present value |  | Plugging and abandonment expense |  |  | 0 | %
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |
Collateral-dependent impaired loans |  | $ | 6,553 |  | Appraisals from comparable assets |  | Estimated cost to sell |  |  | 20 | %
Estimated Fair Value of Financial Instruments Not Recorded at Fair Value | The following table presents estimated fair values of the Company’s financial instruments not recorded at fair value at December 31, 2023 and December 31, 2022 (dollars in thousands):
|  | Carrying |  |  | Fair Value Measurements |
|  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 181,042 |  |  | $ | 181,042 |  |  | $ | - |  |  | $ | - |  |  | $ | 181,042 |
Interest-bearing time deposits in other banks |  |  | 17,679 |  |  |  | - |  |  |  | 17,679 |  |  |  | - |  |  |  | 17,679 |
Loans, net of allowance |  |  | 1,341,148 |  |  |  | - |  |  |  | 1,321,413 |  |  |  | 16,370 |  |  |  | 1,337,783 |
Loans held for sale |  |  | 718 |  |  |  | - |  |  |  | 718 |  |  |  | - |  |  |  | 718 |
Nonmarketable equity securities |  |  | 1,283 |  |  |  | - |  |  |  | 1,283 |  |  |  | - |  |  |  | 1,283 |
Interest receivable and other assets |  |  | 35,878 |  |  |  | - |  |  |  | 19,211 |  |  |  | 16,667 |  |  |  | 35,878 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,591,391 |  |  | $ | - |  |  | $ | 1,590,295 |  |  | $ | - |  |  | $ | 1,590,295 |
Interest payable and other liabilities |  |  | 9,647 |  |  |  | - |  |  |  | 8,335 |  |  |  | 1,312 |  |  |  | 9,647 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 109,115 |  |  | $ | 109,115 |  |  | $ | - |  |  | $ | - |  |  | $ | 109,115 |
Interest-bearing time deposits in other banks |  |  | 5,474 |  |  |  | - |  |  |  | 5,474 |  |  |  | - |  |  |  | 5,474 |
Loans, net of allowance |  |  | 1,255,722 |  |  |  | - |  |  |  | 1,245,825 |  |  |  | 6,553 |  |  |  | 1,252,378 |
Nonmarketable equity securities |  |  | 1,209 |  |  |  | - |  |  |  | 1,209 |  |  |  | - |  |  |  | 1,209 |
Interest receivable |  |  | 8,124 |  |  |  | - |  |  |  | 8,124 |  |  |  | - |  |  |  | 8,124 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,431,400 |  |  | $ | - |  |  | $ | 1,429,565 |  |  | $ | - |  |  | $ | 1,429,565 |
Interest payable |  |  | 339 |  |  |  | - |  |  |  | 339 |  |  |  | - |  |  |  | 339 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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