
(in thousands)	Fair Value at September 30, 2023		Valuation Technique	Significant Unobservable Inputs	Significant Unobservable Input Value
Recurring:
Investment Securities – available for sale -CDO	$	14,784	Discounted Cash Flow	Discount Margin	Range of mid 500 to low 600

Non-recurring:
Individually Evaluated Loans, net	$	-	Market Comparable Properties	Marketability Discount	N/A

Equity Investment	$	2,862	Market Method	Revenue Multiples	2.8x


(in thousands)	Fair Value at December 31, 2022		Valuation Technique	Significant Unobservable Inputs	Significant Unobservable Input Value
Recurring:
Investment Securities – available for sale -CDO	$	15,871	Discounted Cash Flow	Discount Rate	Range of low to mid 300 and low to high 400

Non-recurring:
Impaired Loans, net	$	211	Market Comparable Properties	Marketability Discount	10.0% - 15.0%

Equity Investment	$	1,796	Market Method	Revenue Multiples	2.8x

(1)

Range would include discounts taken since appraisal and estimated values


	September 30, 2023				Fair Value Measurements
					Quoted
					Prices in		Significant
					Active Markets		Other		Significant
					for Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
(in thousands)	Amount		Value		(Level 1)		(Level 2)		(Level 3)
Financial Assets:
Cash and due from banks	$	78,939	$	78,939	$	78,939
Interest bearing deposits in banks		1,713		1,713		1,713
Investment securities - AFS		114,370		114,370			$	99,586	$	14,784
Investment securities - HTM		215,683		176,826				174,971		1,855
Restricted bank stock		5,251		N/A
Loans held for sale		208		208						208
Loans, net		1,362,502		1,265,829						1,265,829
Financial derivatives		1,099		1,099				1,099
Accrued interest receivable		6,689		6,689				874		5,815
Financial Liabilities:
Deposits - non-maturity		1,354,015		1,354,015				1,354,015
Deposits - time deposits		221,054		217,610				217,610
Short-term borrowed funds		53,330		53,330				53,330
Long-term borrowed funds		110,929		110,514				110,514
Accrued interest payable		578		578				578


	December 31, 2022				Fair Value Measurements
					Quoted
					Prices in		Significant
					Active Markets		Other		Significant
					for Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
(in thousands)	Amount		Value		(Level 1)		(Level 2)		(Level 3)
Financial Assets:
Cash and due from banks	$	72,720	$	72,720	$	72,720
Interest bearing deposits in banks		1,595		1,595		1,595
Investment securities - AFS		125,889		125,889			$	110,018	$	15,871
Investment securities - HTM		235,659		203,080				182,380		20,700
Restricted bank stock		1,027		N/A
Loans held for sale		—		—
Loans, net		1,264,684		1,177,702						1,177,702
Financial derivative		1,068		1,068				1,068
Accrued interest receivable		6,051		6,051				933		5,118
Financial Liabilities:
Deposits - non-maturity		1,450,210		1,450,210				1,450,210
Deposits - time deposits		120,523		120,083				120,083
Financial derivatives		—		—				—
Short-term borrowed funds		64,565		64,565				64,565
Long-term borrowed funds		30,929		30,909				30,909
Accrued interest payable		151		151				151