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Fair Value Accounting (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

Schedule of assets and liabilities measured at fair value on a recurring basis
						September 30, 2024
(dollars in thousands)		Level 1				Level 2				Level 3				Total
Assets
Securities available for sale
Corporate bonds		$	-				1,947				-				1,947
US treasuries			-				924				-				924
US government agencies			-				16,686				-				16,686
State and political subdivisions			-				20,023				-				20,023
Asset-backed securities			-				34,265				-				34,265
Mortgage-backed securities			-				60,752				-				60,752
Mortgage loans held for sale			-				8,602				-				8,602
Mortgage loan interest rate lock commitments			-				354				-				354
Total assets measured at fair value on a recurring basis		$	-				143,553				-				143,553
Liabilities
Derivative liability			-				3,063				-				3,063
MBS forward sales commitments			-				48				-				48
Total liabilities measured at fair value on a recurring basis		$	-				3,111				-				3,111

		December 31, 2023
(dollars in thousands)		Level 1				Level 2				Level 3				Total
Assets
Securities available for sale:
Corporate bonds		$	-				1,910				-				1,910
US treasuries			-				9,394				-				9,394
US government agencies			-				18,656				-				18,656
State and political subdivisions			-				19,741				-				19,741
Asset-backed securities			-				33,236				-				33,236
Mortgage-backed securities			-				51,765				-				51,765
Mortgage loans held for sale			-				7,194				-				7,194
Mortgage loan interest rate lock commitments			-				159				-				159
Total assets measured at fair value on a recurring basis		$	-				142,055				-				142,055
Liabilities
Derivative liability		$	-				482				-				482
MBS forward sales commitments			-				68				-				68
Total liabilities measured at fair value on a recurring basis		$	-				550				-				550

Schedule of assets and liabilities measured at fair value on a nonrecurring basis

Schedule of assets and liabilities measured at fair value on a nonrecurring basis
		As of September 30, 2024
(dollars in thousands) Level 1 [Member]		Level 1				Level 2				Level 3				Total
Assets
Individually evaluated loans Level 2 [Member]		$	-				8,954				1,812				10,766
Total assets measured at fair value on a nonrecurring basis		$	-				8,954				1,812				10,766

		As of December 31, 2023
(dollars in thousands)		Level 1				Level 2				Level 3				Total
Assets
Individually evaluated loans Level 3 [Member]		$	-				1,160				2,976				4,136
Total assets measured at fair value on a nonrecurring basis		$	-				1,160				2,976				4,136

Schedule of unobservable inputs used in the fair value measurements

Schedule of unobservable inputs used in the fair value measurements
	Valuation Technique	Significant Unobservable Inputs	Range of Inputs
Individually evaluated loans	Appraised Value/ Discounted Cash Flows	Discounts to appraisals or cash flows for estimated holding and/or selling costs or age of appraisal	0-25%

Schedule of estimated fair values of the company's financial instruments

Schedule of estimated fair values of the company's financial instruments
										September 30, 2024
(dollars in thousands)		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
Financial Assets:
Other investments, at cost		$	19,640				19,640				-				-				19,640
Loans1			3,567,000				3,302,316				-				-				3,302,316
Financial Liabilities:
Deposits			3,518,825				3,348,532				-				3,348,532				-
Subordinated debentures			24,903				28,200				-				28,200				-

										December 31, 2023
(dollars in thousands)		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
Financial Assets:
Other investments, at cost		$	19,939				19,939				-				-				19,939
Loans1			3,557,120				3,337,768				-				-				3,337,768
Financial Liabilities:
Deposits			3,379,564				2,961,182				-				2,961,182				-
Subordinated debentures			36,322				40,712				-				40,712				-

¹ Carrying amount is net of the allowance for credit losses and individually evaluated loans.

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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X

- 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://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
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- 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
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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/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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