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FAIR VALUE MEASUREMENT (Tables)
6 Months Ended
Jun. 30, 2024
Fair Value Measurement [Abstract]  
Schedule of fair value, assets measured on recurring basis

    

Total Estimated

    

Fair Value Measurements

Fair Value

Level 1

Level 2

Level 3

June 30, 2024

Municipal securities

$

22,417

$

$

22,417

$

Mortgage-backed securities

 

43,783

 

 

43,783

 

Collateralized mortgage obligations

 

43,390

 

 

43,390

 

SBA securities

 

4,640

 

 

4,640

 

Corporate bonds

 

69,403

 

 

69,403

 

Equity securities

12,837

12,837

Total

$

196,470

$

12,837

$

183,633

$

    

Total Estimated

    

Fair Value Measurements

Fair Value

Level 1

Level 2

Level 3

December 31, 2023

 

  

 

  

 

  

 

  

Municipal securities

$

20,827

$

$

20,827

$

Mortgage-backed securities

 

37,601

 

 

37,601

 

Collateralized mortgage obligations

 

32,976

 

 

32,976

 

SBA securities

 

5,252

 

 

5,252

 

Corporate bonds

 

66,496

 

 

66,496

 

Equity securities

12,585

12,585

Total

$

175,737

$

12,585

$

163,152

$

Schedule of fair value measurements, nonrecurring

    

Total Estimated

    

Fair Value Measurements

Fair Value

Level 1

Level 2

Level 3

June 30, 2024

 

  

 

  

 

  

 

  

Individually evaluated loans

$

21,875

$

$

$

21,875

Total

$

21,875

$

$

$

21,875

    

Total Estimated

    

Fair Value Measurements

Fair Value

Level 1

Level 2

Level 3

December 31, 2023

 

  

 

  

 

  

 

  

Individually evaluated loans (1)

$

12,977

$

$

$

12,977

Total

$

12,977

$

$

$

12,977

(1)For each quarter the loan was outstanding in 2023, with the adoption of CECL, one performing modified loan to a borrower experiencing financial difficulty was individually evaluated in determining the estimated allowance for credit losses.