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Fair Value (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Quantitative information about assets measured utilizing Level 3 fair value measurement

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

March 31, 2025

Valuation Technique

Fair Value

Unobservable Input

Actual Range

Weighted Average

Collateral Dependent Loans

Discount applied to collateral:

Discounted value

$

145

Real Estate

20%

20%

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%

Fair Value Measurements, Nonrecurring

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

March 31, 2025

Valuation Technique

Fair Value

Unobservable Input

Rate

Discounted cash flow

$

2,366

Constant prepayment rate

7%

Discount rate

11%

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:

			March 31, 2025
			Carrying Value						Estimated Fair Value						Level 1						Level 2						Level 3
ASSETS
Cash and cash equivalents			$	69,179					$	69,179					$	69,179					$	—					$	—
FHLB stock (1)			5,600						N/A						—						—						—
Mortgage loans HFS			127						131						—						131						—
Gross loans			1,367,724						1,321,419						—						—						1,321,419
Less allowance for credit losses			12,735						12,735						—						—						12,735
Net loans			1,354,989						1,308,684						—						—						1,308,684
Accrued interest receivable			8,790						8,790						8,790						—						—
Equity securities without readily determinable fair values (1)			3,086						N/A						—						—						—
LIABILITIES
Deposits without stated maturities			1,407,670						1,407,670						1,407,670						—						—
Deposits with stated maturities			390,239						388,178						—						388,178						—
Short-term borrowings			47,310						47,254						—						47,254						—
FHLB advances			—						—						—						—						—
Subordinated debt, net of unamortized issuance costs			29,447						27,916						—						27,916						—
Accrued interest payable			997						997						997						—						—

			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						—						—						—
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						—						—

(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:

			March 31, 2025																								December 31, 2024
			Total						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3
Recurring items
AFS securities
U.S. Treasury			$	212,783					$	—					$	212,783					$	—					$	220,571					$	—					$	220,571					$	—
States and political subdivisions			74,222						—						74,222						—						76,568						—						76,568						—
Auction rate money market preferred			2,829						—						2,829						—						3,044						—						3,044						—
Mortgage-backed securities			25,828						—						25,828						—						26,886						—						26,886						—
Collateralized mortgage obligations			190,078						—						190,078						—						154,674						—						154,674						—
Corporate			7,300						—						7,300						—						7,286						—						7,286						—
Total AFS securities			513,040						—						513,040						—						489,029						—						489,029						—
Nonrecurring items
Collateral dependent (net of ACL)			145						—						—						145						254						—						—						254
Foreclosed assets			649						—						—						649						544						—						—						544
Total			$	513,834					$	—					$	513,040					$	794					$	489,827					$	—					$	489,029					$	798
Percent of assets and liabilities measured at fair value									0.00		%				99.85		%				0.15		%										0.00		%				99.84		%				0.16		%

X

- 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.

+ 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
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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- 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

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

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-Name Accounting Standards Codification
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