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Fair Values of Assets and Liabilities (Tables) | 3 Months Ended
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Mar. 31, 2024
Fair Values of Assets and Liabilities [Abstract] |
Fair Value, Assets Measured on Recurring Basis |
|  | Fair Value Measurement Using
|  | Reporting Date
Description |  | Total |  | Level 1 |  | Level 2 |  | Level 3
March 31, 2024 |  | (In thousands)
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 44,676 |  | $ | - |  | $ | 44,676 |  | $ | -
U.S. Government agencies |  |  | 19,828 |  |  | - |  |  | 19,828 |  |  | -
States and political subdivisions |  |  | 128,267 |  |  | - |  |  | 128,267 |  |  | -
Mortgage-backed securities-government |  |  |  |  |  |  |  |  |  |  |  |
sponsored entities |  |  | 205,603 |  |  | - |  |  | 205,603 |  |  | -
Interest rate derivatives |  |  | 1,336 |  |  | - |  |  | 1,336 |  |  | -
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  |  | 1,336 |  |  | - |  |  | 1,336 |  |  | -
Description |  | Total |  | Level 1 |  | Level 2 |  | Level 3
December 31, 2023 |  | (In thousands)
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 53,600 |  | $ | - |  | $ | 53,600 |  | $ | -
U.S. Government agencies |  |  | 15,996 |  |  | - |  |  | 15,996 |  |  | -
States and political subdivisions |  |  | 129,479 |  |  | - |  |  | 129,479 |  |  | -
Mortgage-backed securities-government |  |  |  |  |  |  |  |  |  |  |  |
sponsored entities |  |  | 207,184 |  |  | - |  |  | 207,184 |  |  | -
Interest rate derivatives |  |  | 1,225 |  |  | - |  |  | 1,225 |  |  | -
LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  |  | 1,225 |  |  | - |  |  | 1,225 |  |  | -
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis |
|  |  |  |  | Fair Value Measurement Using Reporting Date
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |
Description |  | Total |  | Level 1 |  | Level 2 |  | Level 3
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Individually analyzed loans held for investment |  | $ | 3,666 |  | $ | - |  | $ | - |  | $ | 3,666
Foreclosed Real Estate Owned |  |  | 97 |  |  | - |  |  | - |  |  | 97
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Individually analyzed loans held for investment |  | $ | 7,487 |  | $ | - |  | $ | - |  | $ | 7,487
Foreclosed Real Estate Owned |  |  | 97 |  |  | - |  |  | - |  |  | 97
Additional Qualitative Information about Level 3 Assets |
| Quantitative Information about Level 3 Fair Value Measurements
(dollars in thousands) | Fair Value Estimate |  | Valuation Techniques | Unobservable Input |  | Range (Weighted Average)
March 31, 2024 |  |  |  |  |  |  |
Individually analyzed loans held for investment | $ | 3,666 |  | Appraisal of collateral(1) | Appraisal adjustments(2) |  | 10.0%-10.0% (10.0%)
Foreclosed real estate owned | $ | 97 |  | Appraisal of collateral(1) | Liquidation Expenses(2) |  | 10.0%-10.0% (10.0%)
| Quantitative Information about Level 3 Fair Value Measurements
(dollars in thousands) | Fair Value Estimate |  | Valuation Techniques | Unobservable Input |  | Range (Weighted Average)
December 31, 2023 |  |  |  |  |  |  |
Individually analyzed loans held for investment | $ | 7,487 |  | Appraisal of collateral(1) | Appraisal adjustments(2) |  | 0%-10.0% (2.68%)
Foreclosed real estate owned | $ | 97 |  | Appraisal of collateral(1) | Liquidation Expenses(2) |  | 16.67%-37.20% (28.07%)
(1)Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable, less any associated allowance. (2)Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.
Fair Value, by Balance Sheet Grouping |
| Fair Value Measurements at March 31, 2024
| Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents (1) | $ | 111,963 |  | $ | 111,963 |  | $ | 111,963 |  | $ | - |  | $ | -
Loans receivable, net |  | 1,603,428 |  |  | 1,535,585 |  |  | - |  |  | - |  |  | 1,535,585
Mortgage servicing rights |  | 172 |  |  | 506 |  |  | - |  |  | - |  |  | 506
Regulatory stock (1) |  | 6,545 |  |  | 6,545 |  |  | 6,545 |  |  | - |  |  | -
Bank owned life insurance (1) |  | 45,869 |  |  | 45,869 |  |  | 45,869 |  |  | - |  |  | -
Accrued interest receivable (1) |  | 8,135 |  |  | 8,135 |  |  | 8,135 |  |  | - |  |  | -
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | 1,838,998 |  |  | 1,832,638 |  |  | 1,080,822 |  |  | - |  |  | 751,816
Short-term borrowings (1) |  | 60,055 |  |  | 60,055 |  |  | 60,055 |  |  | - |  |  | -
Other borrowings |  | 151,179 |  |  | 150,963 |  |  | - |  |  | - |  |  | 150,963
Accrued interest payable (1) |  | 11,737 |  |  | 11,737 |  |  | 11,737 |  |  | - |  |  | -
Off-balance sheet financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitments to extend credit and ‎outstanding letters of credit |  | - |  |  | - |  |  | - |  |  | - |  |  | -
| Fair Value Measurements at December 31, 2023
| Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents (1) | $ | 66,120 |  | $ | 66,120 |  | $ | 66,120 |  | $ | - |  | $ | -
Loans receivable, net |  | 1,584,650 |  |  | 1,521,667 |  |  | - |  |  | - |  |  | 1,521,667
Mortgage servicing rights |  | 188 |  |  | 506 |  |  | - |  |  | - |  |  | 506
Regulatory stock (1) |  | 7,318 |  |  | 7,318 |  |  | 7,318 |  |  | - |  |  | -
Bank owned life insurance (1) |  | 46,439 |  |  | 46,439 |  |  | 46,439 |  |  | - |  |  | -
Accrued interest receivable (1) |  | 8,123 |  |  | 8,123 |  |  | 8,123 |  |  | - |  |  | -
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | 1,795,159 |  |  | 1,800,104 |  |  | 1,086,050 |  |  | - |  |  | 714,054
Short-term borrowings (1) |  | 74,076 |  |  | 74,076 |  |  | 74,076 |  |  | - |  |  | -
Other borrowings |  | 124,236 |  |  | 124,058 |  |  | - |  |  | - |  |  | 124,058
Accrued interest payable (1) |  | 10,510 |  |  | 10,510 |  |  | 10,510 |  |  | - |  |  | -
Off-balance sheet financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commitments to extend credit and ‎outstanding letters of credit |  | - |  |  | - |  |  | - |  |  | - |  |  | -
(1)This financial instrument is carried at cost, which approximates the fair value of the instrument

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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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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