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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Estimated Fair Value of Financial Instruments | The estimated carrying and fair values of the Company’s financial instruments are as follows (in thousands):
|  | December 31, 2023
|  | Carrying Amount |  | Fair Value
|  |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 30,017 |  |  | $ | 30,017 |  |  | $ | — |  |  | $ | — |  |  | $ | 30,017 |
Interest-earning deposits in other banks |  | 23,711 |  |  | 23,711 |  |  | — |  |  | — |  |  | 23,711 |
Held-to-maturity investment securities |  | 302,442 |  |  | — |  |  | 277,003 |  |  | — |  |  | 277,003 |
Loans, net |  | 1,276,144 |  |  | — |  |  | — |  |  | 1,213,098 |  |  | 1,213,098 |
Accrued interest receivable |  | 10,898 |  |  | — |  |  | 6,146 |  |  | 4,752 |  |  | 10,898 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Time deposits |  | 162,085 |  |  | — |  |  | 160,839 |  |  | — |  |  | 160,839 |
Short-term borrowings |  | 80,000 |  |  | — |  |  | 79,991 |  |  | — |  |  | 79,991 |
Senior debt and subordinated debentures |  | 69,744 |  |  | — |  |  | — |  |  | 61,121 |  |  | 61,121 |
Accrued interest payable |  | 778 |  |  | — |  |  | 594 |  |  | 184 |  |  | 778 |
|  | December 31, 2022
|  | Carrying Amount |  | Fair Value
|  |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 25,485 |  |  | $ | 25,485 |  |  | $ | — |  |  | $ | — |  |  | $ | 25,485 |
Interest-earning deposits in other banks |  | 5,685 |  |  | 5,685 |  |  | — |  |  | — |  |  | 5,685 |
Held-to-maturity investment securities |  | 305,107 |  |  | — |  |  | 271,249 |  |  | — |  |  | 271,249 |
Loans, net |  | 1,245,456 |  |  | — |  |  | — |  |  | 1,113,849 |  |  | 1,113,849 |
Accrued interest receivable |  | 10,547 |  |  | — |  |  | 6,035 |  |  | 4,512 |  |  | 10,547 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Time deposits |  | 67,923 |  |  | — |  |  | 67,047 |  |  | — |  |  | 67,047 |
Short-term borrowings |  | 46,000 |  |  | — |  |  | 46,000 |  |  | — |  |  | 46,000 |
Senior debt and subordinated debentures |  | 69,599 |  |  | — |  |  | — |  |  | 62,504 |  |  | 62,504 |
Accrued interest payable |  | 794 |  |  | — |  |  | 83 |  |  | 711 |  |  | 794 |
Fair Value of Assets on a Recurring Basis | The Company is required or permitted to record the following assets at fair value on a recurring basis under other accounting pronouncements (in thousands):
|  | Fair Value Measurements Using
|  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
December 31, 2023 |  |  |  |  |  |  |  |
Available-for-sale debt securities: |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 8,954 |  |  | $ | — |  |  | $ | 8,954 |  |  | $ | — |
U.S. Government agencies |  | 95 |  |  | — |  |  | 95 |  |  | — |
Obligations of states and political subdivisions |  | 180,222 |  |  | — |  |  | 180,222 |  |  | — |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 83,352 |  |  | — |  |  | 83,352 |  |  | — |
Private label mortgage and asset backed securities |  | 324,573 |  |  | — |  |  | 324,573 |  |  | — |
Equity Securities |  | 6,649 |  |  | 6,649 |  |  | — |  | — |
Total assets measured at fair value on a recurring basis |  | $ | 603,845 |  |  | $ | 6,649 |  |  | $ | 597,196 |  |  | $ | — |
|  | Fair Value Measurements Using
|  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
December 31, 2022 |  |  |  |  |  |  |  |
Available-for-sale debt securities: |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 8,707 |  |  | $ | — |  |  | $ | 8,707 |  |  | $ | — |
U.S. Government agencies |  | 98 |  |  | — |  |  | 98 |  |  | — |
Obligations of states and political subdivisions |  | 174,985 |  |  | — |  |  | 174,985 |  |  | — |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 109,493 |  |  | — |  |  | 109,493 |  |  | — |
Private label residential mortgage and asset backed securities |  | 355,542 |  |  | — |  |  | 355,542 |  |  | — |
Corporate debt securities |  | — |  |  | — |  |  | — |  |  | — |
Equity Securities |  | 6,558 |  |  | 6,558 |  |  | — |  |  | — |
Total assets measured at fair value on a recurring basis |  | $ | 655,383 |  |  | $ | 6,558 |  |  | $ | 648,825 |  |  | $ | — |
Fair Value of Assets on a Non-recurring Basis |

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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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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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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