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Fair Value (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Quantitative information about assets measured utilizing Level 3 fair value measurement

The following tables list the quantitative fair value information about loans measured at fair value on a nonrecurring basis as of December 31:

			2024
Valuation Technique			Fair Value			Unobservable Input						Actual Range						Weighted Average
Collateral Dependent Loans						Discount applied to collateral:
Discounted value			$	254		Real Estate						20		%				20		%

			2023
Valuation Technique			Fair Value			Unobservable Input						Actual Range						Weighted Average
Collateral Dependent Loans						Discount applied to collateral:
Discounted value			$	1,083		Real Estate						20		%				20		%
						Equipment						25% - 35%						33		%
						Accounts receivable						25		%				25		%

Fair Value Measurements, Nonrecurring

The following table lists the quantitative information about OMSR fair value measurement as of December 31:

2024
Valuation Technique			Fair Value			Unobservable Input						Rate
Discounted cash flow			$	2,483		Constant prepayment rate						7		%
						Discount rate						11		%

Carrying amount and estimated fair value of financial instruments not recorded at fair value

The carrying amount and estimated fair value of financial instruments not recorded at fair value in their entirety on a recurring basis were as follows as of December 31:

			2024
			Carrying Value						Estimated Fair Value						Level 1						Level 2						Level 3
ASSETS
Cash and cash equivalents			$	24,542					$	24,542					$	24,542					$	—					$	—
FHLB stock (1)			12,762						N/A						—						—						—
Mortgage loans HFS			242						247						—						247						—
Gross loans			1,423,571						1,363,883						—						—						1,363,883
Less allowance for credit losses			12,895						12,895						—						—						12,895
Net loans			1,410,676						1,350,988						—						—						1,350,988
Accrued interest receivable			8,085						8,085						8,085						—						—
Equity securities without readily determinable fair values (1)			3,086						N/A						—						—						—
OMSR			2,185						2,483						—						—						2,483
LIABILITIES
Deposits without stated maturities			1,359,469						1,359,469						1,359,469						—						—
Deposits with stated maturities			387,591						385,200						—						385,200						—
Short-term borrowings			53,567						53,503						—						53,503						—
FHLB advances			30,000						30,000						—						30,000						—
Subordinated debt, net of unamortized issuance costs			29,424						27,658						—						27,658						—
Accrued interest payable			1,051						1,051						1,051						—						—

			2023
			Carrying Value						Estimated Fair Value						Level 1						Level 2						Level 3
ASSETS
Cash and cash equivalents			$	33,672					$	33,672					$	33,672					$	—					$	—
FHLB stock (1)			12,762						N/A						—						—						—
Mortgage loans HFS			—						—						—						—						—
Gross loans			1,349,463						1,292,458						—						—						1,292,458
Less allowance for credit losses			13,108						13,108						—						—						13,108
Net loans			1,336,355						1,279,350						—						—						1,279,350
Accrued interest receivable			8,167						8,167						8,167						—						—
Equity securities without readily determinable fair values (1)			3,086						N/A						—						—						—
OMSR			2,422						3,164						—						3,164						—
LIABILITIES
Deposits without stated maturities			1,377,321						1,377,321						1,377,321						—						—
Deposits with stated maturities			346,374						341,489						—						341,489						—
Short-term borrowings			46,801						46,704						—						46,704						—
FHLB advances			40,000						40,000						—						40,000						—
Subordinated debt, net of unamortized issuance costs			29,335						26,146						—						26,146						—
Accrued interest payable			890						890						890						—						—

(1) Due to the characteristics of equity securities without readily determinable fair values, they are not disclosed under a specific fair value hierarchy. When an impairment or write-down related to these securities is recorded, such amount would be classified as a nonrecurring Level 3 fair value adjustment

Assets and liabilities measured at fair value

The table below presents the recorded amount of assets and liabilities measured at fair value on December 31:

			2024																								2023
			Total						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3
Recurring items
AFS securities
U.S. Treasury			$	220,571					$	—					$	220,571					$	—					$	214,801					$	—					$	214,801					$	—
States and political subdivisions			76,568						—						76,568						—						92,876						—						92,876						—
Auction rate money market preferred			3,044						—						3,044						—						2,931						—						2,931						—
Mortgage-backed securities			26,886						—						26,886						—						32,815						—						32,815						—
Collateralized mortgage obligations			154,674						—						154,674						—						177,775						—						177,775						—
Corporate			7,286						—						7,286						—						6,950						—						6,950						—
Total AFS securities			489,029						—						489,029						—						528,148						—						528,148						—
Nonrecurring items
Collateral dependent (net of ACL)			254						—						—						254						1,083						—						—						1,083
OMSR			2,185						—						—						2,185						2,422						—						2,422						—
Foreclosed assets			544						—						—						544						406						—						—						406
Total			$	492,012					$	—					$	489,029					$	2,983					$	532,059					$	—					$	530,570					$	1,489
Percent of assets and liabilities measured at fair value									0.00		%				99.39		%				0.61		%										0.00		%				99.72		%				0.28		%

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- Definition

Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

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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.

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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).

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