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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024
						Carrying Amount						Fair Value
												Level 1						Level 2						Level 3						Total
Financial assets:
Cash and due from banks						$	28,029					$	28,029					$	—					$	—					$	28,029
Interest-earning deposits in other banks						92,369						92,369						—						—						92,369
Held-to-maturity investment securities						301,359						—						274,568						—						274,568
Loans, net						2,308,418						—						—						2,252,462						2,252,462
Financial liabilities:
Time deposits						443,284						—						440,046						—						440,046
Borrowings						133,442						—						133,743						—						133,743
Senior debt and subordinated debentures						69,889						—						—						62,535						62,535

						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
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

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, 2024
Available-for-sale debt securities:
U.S. Treasury securities						$	9,058					$	—					$	9,058					$	—
U.S. Government agencies						65						—						65						—
Obligations of states and political subdivisions						164,640						—						164,640						—
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations						72,302						—						72,302						—
Private label mortgage and asset backed securities						230,555						—						230,555						—
Equity Securities						6,586						6,586						—						—
Total assets measured at fair value on a recurring basis						$	483,206					$	6,586					$	476,620					$	—

						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 residential mortgage and asset backed securities						324,573						—						324,573						—
Corporate debt securities						—						—						—						—
Equity Securities						6,649						6,649						—						—
Total assets measured at fair value on a recurring basis						$	603,845					$	6,649					$	597,196					$	—

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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- References

No definition available.

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X

- 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/2009/role/commonPracticeRef
-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

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-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

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