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Fair Value (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured on Recurring Basis Measured at Fair Value

The following tables present the balances of assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2025, December 31, 2024 and March 31, 2024.

			At March 31, 2025
			Level 1			Level 2			Level 3			Total
Securities available for sale
U.S. Government-sponsored agencies			$	—		$	18,950,000		$	—		$	18,950,000
Mortgage-backed securities			—			226,877,000			—			226,877,000
State and political subdivisions			—			32,762,000			—			32,762,000
Asset-backed securities			—			2,175,000			—			2,175,000
Total securities available for sale			—			280,764,000			—			280,764,000
Interest rate swap agreements			—			104,000			—			104,000
Customer loan interest swap agreements			—			4,504,000			—			4,504,000
Total interest rate swap agreements			—			4,608,000			—			4,608,000
Total assets			$	—		$	285,372,000		$	—		$	285,372,000

			At March 31, 2025
			Level 1			Level 2			Level 3			Total
Interest rate swap agreements			$	—		$	1,120,000		$	—		$	1,120,000
Customer loan interest swap agreements			—			4,504,000			—			4,504,000
Total liabilities			$	—		$	5,624,000		$	—		$	5,624,000

			At December 31, 2024
			Level 1			Level 2			Level 3			Total
Securities available for sale
U.S. Government-sponsored agencies			$	—		$	19,796,000		$	—		$	19,796,000
Mortgage-backed securities			—			219,382,000			—			219,382,000
State and political subdivisions			—			33,252,000			—			33,252,000
Asset-backed securities			—			2,250,000			—			2,250,000
Total securities available for sale			—			274,680,000			—			274,680,000
Interest rate swap agreements			—			198,000			—			198,000
Customer loan interest swap agreements			—			4,859,000			—			4,859,000
Total interest rate swap agreements			—			5,057,000			—			5,057,000
Total assets			$	—		$	279,737,000		$	—		$	279,737,000

			At December 31, 2024
			Level 1			Level 2			Level 3			Total
Interest rate swap agreements			$	—		$	758,000		$	—		$	758,000
Customer loan interest swap agreements			—			4,859,000			—			4,859,000
Total liabilities			$	—		$	5,617,000		$	—		$	5,617,000

			At March 31, 2024
			Level 1			Level 2			Level 3			Total
Securities available for sale
U.S. Government-sponsored agencies			$	—		$	19,693,000		$	—		$	19,693,000
Mortgage-backed securities			—			218,002,000			—			218,002,000
State and political subdivisions			—			33,950,000			—			33,950,000
Asset-backed securities			—			2,806,000			—			2,806,000
Total securities available for sale			—			274,451,000			—			274,451,000
Interest rate swap agreements			—			1,003,000			—			1,003,000
Customer loan interest swap agreements			—			4,778,000			—			4,778,000
Total interest swap agreements			—			5,781,000			—			5,781,000
Total assets			$	—		$	280,232,000		$	—		$	280,232,000

			At March 31, 2024
			Level 1			Level 2			Level 3			Total
Interest rate swap agreements			$	—		$	385,000		$	—		$	385,000
Customer loan interest swap agreements			—			4,778,000			—			4,778,000
Total liabilities			$	—		$	5,163,000		$	—		$	5,163,000

Schedule of Assets Measured on Nonrecurring Basis Measured at Fair Value

The following tables include assets measured at fair value on a nonrecurring basis that have had a fair value adjustment since their initial recognition. Mortgage servicing rights are presented at fair value with no impairment reserve for each of the periods presented. There was no OREO or related allowance at March 31, 2025 and 2024 . OREO is presented net of an allowance of $35,000 at December 31, 2024. Only collateral-dependent IAL with a related specific ACL or a partial charge off are included in IAL for purposes of fair value disclosures. IAL below are presented net of specific allowances of $1,029,000 and $821,000 at March 31, 2025 and December 31, 2024, respectively. There were no collateral-dependent IAL with a related specific ACL or a partial charge off at March 31, 2024.

			At March 31, 2025
			Level 1						Level 2						Level 3						Total
Mortgage servicing rights			$	—					$	2,973,000					$	—					$	2,973,000
Individually analyzed loans			—						318,000						—						318,000
Total assets			$	—					$	3,291,000					$	—					$	3,291,000

			At December 31, 2024
			Level 1						Level 2						Level 3						Total
Mortgage servicing rights			$	—					$	3,054,000					$	—					$	3,054,000
Other real estate owned			—						173,000						—						173,000
Individually analyzed loans			—						538,000						—						538,000
Total assets			$	—					$	3,765,000					$	—					$	3,765,000

			At March 31, 2024
			Level 1						Level 2						Level 3						Total
Mortgage servicing rights			$	—					$	3,423,000					$	—					$	3,423,000
Total assets			$	—					$	3,423,000					$	—					$	3,423,000

Schedule of Estimated Fair Value of Financial Instruments

The carrying amount and estimated fair values for financial instruments as of March 31, 2025 were as follows:

			Carrying value			Estimated fair value			Level 1			Level 2			Level 3
Financial assets
Securities to be held to maturity (net of allowance for credit losses)			$	368,571,000		$	312,788,000		$	—		$	312,788,000		$	—
Loans (net of allowance for credit losses)
Commercial
Real estate			773,936,000			750,258,000			—			—			750,258,000
Construction			75,783,000			73,464,000			—			—			73,464,000
Other			551,967,000			548,918,000			—			318,000			548,600,000
Municipal			54,868,000			50,617,000			—			—			50,617,000
Residential
Term			714,088,000			655,427,000			—			—			655,427,000
Construction			34,962,000			34,653,000			—			—			34,653,000
Home equity line of credit			130,771,000			130,190,000			—			—			130,190,000
Consumer			21,661,000			19,353,000			—			—			19,353,000
Total loans			2,358,036,000			2,262,880,000			—			318,000			2,262,562,000
Mortgage servicing rights			1,835,000			2,973,000			—			2,973,000			—
Financial liabilities
Local certificates of deposit			$	380,408,000		$	359,404,000		$	—		$	359,404,000		$	—
National certificates of deposit			789,108,000			809,997,000			—			809,997,000			—
Total certificates of deposit			1,169,516,000			1,169,401,000			—			1,169,401,000			—
Repurchase agreements			55,539,000			55,435,000			—			55,435,000			—
Federal Home Loan Bank advances			129,905,000			130,213,000			—			130,213,000			—
Total borrowed funds			185,444,000			185,648,000			—			185,648,000			—

The carrying amounts and estimated fair values for financial instruments as of December 31, 2024 were as follows:

			Carrying value			Estimated fair value			Level 1			Level 2			Level 3
Financial assets
Securities to be held to maturity (net of allowance for credit losses)			$	369,704,000		$	314,993,000		$	—		$	314,993,000		$	—
Loans (net of allowance for credit losses)
Commercial
Real estate			752,613,000			720,898,000			—			—			720,898,000
Construction			98,773,000			94,611,000			—			—			94,611,000
Other			519,560,000			513,417,000			—			538,000			512,879,000
Municipal			61,565,000			57,657,000			—			—			57,657,000
Residential
Term			705,566,000			643,402,000			—			—			643,402,000
Construction			35,007,000			34,631,000			—			—			34,631,000
Home equity line of credit			122,377,000			119,930,000			—			—			119,930,000
Consumer			20,608,000			18,274,000			—			—			18,274,000
Total loans			2,316,069,000			2,202,820,000			—			538,000			2,202,282,000
Mortgage servicing rights			1,894,000			3,054,000			—			3,054,000			—
Financial liabilities
Local certificates of deposit			$	385,897,000		$	365,937,000		$	—		$	365,937,000		$	—
National certificates of deposit			728,914,000			747,681,000			—			747,681,000			—
Total certificates of deposit			1,114,811,000			1,113,618,000			—			1,113,618,000			—
Repurchase agreements			51,278,000			51,181,000			—			51,181,000			—
Federal Home Loan Bank advances			95,000,000			95,066,000			—			95,066,000			—
Total borrowed funds			146,278,000			146,247,000			—			146,247,000			—

The carrying amount and estimated fair values for financial instruments as of March 31, 2024 were as follows:

			Carrying value			Estimated fair value			Level 1			Level 2			Level 3
Financial assets
Securities to be held to maturity (net of allowance for credit losses)			$	379,453,000		$	327,816,000		$	—		$	327,816,000		$	—
Loans (net of allowance for credit losses)
Commercial
Real estate			717,709,000			679,690,000			—			—			679,690,000
Construction			84,997,000			80,494,000			—			—			80,494,000
Other			461,281,000			446,607,000			—			—			446,607,000
Municipal			54,552,000			51,889,000			—			—			51,889,000
Residential
Term			672,739,000			602,025,000			—			—			602,025,000
Construction			34,262,000			33,801,000			—			—			33,801,000
Home equity line of credit			105,137,000			104,938,000			—			—			104,938,000
Consumer			18,862,000			16,676,000			—			—			16,676,000
Total loans			2,149,539,000			2,016,120,000			—			—			2,016,120,000
Mortgage servicing rights			2,096,000			3,423,000			—			3,423,000			—
Financial liabilities
Local certificates of deposit			$	370,364,000		$	351,799,000		$	—		$	351,799,000		$	—
National certificates of deposit			695,063,000			704,387,000			—			704,387,000			—
Total certificates of deposit			1,065,427,000			1,056,186,000			—			1,056,186,000			—
Repurchase agreements			47,845,000			47,734,000			—			47,734,000			—
Federal Home Loan Bank advances			106,934,000			81,863,000			—			81,863,000			—
Total borrowed funds			154,779,000			129,597,000			—			129,597,000			—

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
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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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

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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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