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Fair Value Measurement (Tables) | 9 Months Ended
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Sep. 30, 2023
Fair Value Disclosures [Abstract] |
Fair Value, by Balance Sheet Grouping | The carrying amount and estimated fair value by classification level of the Company’s financial instruments as of September 30, 2023 and December 31, 2022 are as follows: Fair Value, by Balance Sheet Grouping
|  | September 30, 2023 |
|  | Carrying |  |  | Fair Value |
(Dollars in thousands) |  | Amount |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and short term investments |  | $ | 97,456 |  |  | $ | 97,456 |  |  | $ | 97,456 |  |  | $ | — |  |  | $ | — |
Available-for-sale securities |  |  | 280,549 |  |  |  | 280,549 |  |  |  | — |  |  |  | 280,549 |  |  |  | — |
Held-to-maturity securities |  |  | 219,871 |  |  |  | 198,408 |  |  |  | — |  |  |  | 198,408 |  |  |  | — |
Other investments, at cost |  |  | 6,305 |  |  |  | 6,305 |  |  |  | — |  |  |  | — |  |  |  | 6,305 |
Loans held for sale |  |  | 5,509 |  |  |  | 5,509 |  |  |  | — |  |  |  | 5,509 |  |  |  | — |
Derivative financial instruments |  |  | 3,909 |  |  |  | 3,909 |  |  |  | — |  |  |  | 3,909 |  |  |  | — |
Net loans receivable |  |  | 1,079,827 |  |  |  | 1,027,838 |  |  |  | — |  |  |  | — |  |  |  | 1,027,838 |
Accrued interest receivable |  |  | 5,390 |  |  |  | 5,390 |  |  |  | 5,390 |  |  |  | — |  |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-interest bearing demand |  | $ | 450,737 |  |  | $ | 450,737 |  |  | $ | — |  |  | $ | 450,737 |  |  | $ | — |
Interest bearing demand deposits and money market accounts |  |  | 688,252 |  |  |  | 688,252 |  |  |  | — |  |  |  | 688,252 |  |  |  | — |
Savings |  |  | 123,523 |  |  |  | 123,523 |  |  |  | — |  |  |  | 123,523 |  |  |  | — |
Time deposits |  |  | 229,514 |  |  |  | 227,770 |  |  |  | — |  |  |  | 227,770 |  |  |  | — |
Total deposits |  |  | 1,492,026 |  |  |  | 1,490,282 |  |  |  | — |  |  |  | 1,490,282 |  |  |  | — |
Federal Home Loan Bank Advances |  |  | 80,000 |  |  |  | 80,000 |  |  |  | — |  |  |  | 80,000 |  |  |  | — |
Short term borrowings |  |  | 67,173 |  |  |  | 67,173 |  |  |  | — |  |  |  | 67,173 |  |  |  | — |
Junior subordinated debentures |  |  | 14,964 |  |  |  | 13,258 |  |  |  | — |  |  |  | 13,258 |  |  |  | — |
Accrued interest payable |  |  | 2,390 |  |  |  | 2,390 |  |  |  | 2,390 |  |  |  | — |  |  |  | — |
|  | December 31, 2022 |
|  | Carrying |  |  | Fair Value |
(Dollars in thousands) |  | Amount |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and short term investments |  | $ | 37,401 |  |  | $ | 37,401 |  |  | $ | 37,401 |  |  | $ | — |  |  | $ | — |
Available-for-sale securities |  |  | 331,862 |  |  |  | 331,862 |  |  |  | — |  |  |  | 331,862 |  |  |  | — |
Held-to-maturity securities |  |  | 228,701 |  |  |  | 213,613 |  |  |  | — |  |  |  | 213,613 |  |  |  | — |
Other investments, at cost |  |  | 4,191 |  |  |  | 4,191 |  |  |  | — |  |  |  | — |  |  |  | 4,191 |
Loans held for sale |  |  | 1,779 |  |  |  | 1,779 |  |  |  | — |  |  |  | 1,779 |  |  |  | — |
Net loans receivable |  |  | 969,521 |  |  |  | 943,498 |  |  |  | — |  |  |  | — |  |  |  | 943,498 |
Accrued interest receivable |  |  | 5,217 |  |  |  | 5,217 |  |  |  | 5,217 |  |  |  | — |  |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-interest bearing demand |  | $ | 461,010 |  |  | $ | 461,010 |  |  | $ | — |  |  | $ | 461,010 |  |  | $ | — |
Interest bearing demand deposits and money market accounts |  |  | 629,763 |  |  |  | 629,763 |  |  |  | — |  |  |  | 629,763 |  |  |  | — |
Savings |  |  | 161,770 |  |  |  | 161,770 |  |  |  | — |  |  |  | 161,770 |  |  |  | — |
Time deposits |  |  | 132,839 |  |  |  | 132,825 |  |  |  | — |  |  |  | 132,825 |  |  |  | — |
Total deposits |  |  | 1,385,382 |  |  |  | 1,385,368 |  |  |  | — |  |  |  | 1,385,368 |  |  |  | — |
Federal Home Loan Bank Advances |  |  | 50,000 |  |  |  | 50,000 |  |  |  | — |  |  |  | 50,000 |  |  |  | — |
Short term borrowings |  |  | 90,743 |  |  |  | 90,743 |  |  |  | — |  |  |  | 90,743 |  |  |  | — |
Junior subordinated debentures |  |  | 14,964 |  |  |  | 13,402 |  |  |  | — |  |  |  | 13,402 |  |  |  | — |
Accrued interest payable |  |  | 520 |  |  |  | 520 |  |  |  | 520 |  |  |  | — |  |  |  | — |
Fair Value, Assets Measured on Recurring Basis | The following tables summarize quantitative disclosures about the fair value for each category of assets carried at fair value as of September 30, 2023 and December 31, 2022 that are measured on a recurring basis. There were no liabilities carried at fair value as of September 30, 2023 or December 31, 2022 that are measured on a recurring basis. Fair Value, Assets Measured on Recurring Basis
(Dollars in thousands) |  | September 30, 2023 |
Description |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Available- for-sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury Securities |  | $ | 17,550 |  |  | $ | — |  |  | $ | 17,550 |  |  | $ | — |
Government Sponsored Enterprises |  |  | 2,008 |  |  |  | — |  |  |  | 2,008 |  |  |  | — |
Mortgage-backed securities |  |  | 236,590 |  |  |  | — |  |  |  | 236,590 |  |  |  | — |
Small Business Administration pools |  |  | 16,621 |  |  |  | — |  |  |  | 16,621 |  |  |  | — |
Corporate and other securities |  |  | 7,780 |  |  |  | — |  |  |  | 7,780 |  |  |  | — |
Total Available-for-sale securities |  |  | 280,549 |  |  |  | — |  |  |  | 280,549 |  |  |  | — |
Derivative financial instruments |  |  | 3,909 |  |  |  |  |  |  |  | 3,909 |  |  |  |  |
Loans held for sale |  |  | 5,509 |  |  |  | — |  |  |  | 5,509 |  |  |  | — |
Total |  | $ | 289,967 |  |  | $ | — |  |  | $ | 289,967 |  |  | $ | — |
(Dollars in thousands) |  | December 31, 2022 |
Description |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Available- for-sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury Securities |  | $ | 55,983 |  |  | $ | — |  |  | $ | 55,983 |  |  | $ | — |
Government Sponsored Enterprises |  |  | 2,074 |  |  |  | — |  |  |  | 2,074 |  |  |  | — |
Mortgage-backed securities |  |  | 244,600 |  |  |  | — |  |  |  | 244,600 |  |  |  | — |
Small Business Administration pools |  |  | 21,087 |  |  |  | — |  |  |  | 21,087 |  |  |  | — |
Corporate and other securities |  |  | 8,118 |  |  |  | — |  |  |  | 8,118 |  |  |  | — |
Total Available-for-sale securities |  |  | 331,862 |  |  |  | — |  |  |  | 331,862 |  |  |  | — |
Loans held for sale |  |  | 1,779 |  |  |  | — |  |  |  | 1,779 |  |  |  | — |
Total |  | $ | 333,641 |  |  | $ | — |  |  | $ | 333,641 |  |  | $ | — |
Fair Value, Assets Measured on Non-Recurring Basis | The following tables summarize quantitative disclosures about the fair value for each category of assets carried at fair value as of September 30, 2023 and December 31, 2022 that are measured on a non-recurring basis. There were no Level 3 financial instruments for the three months ended September 30, 2023 and 2022 measured on a recurring basis. Fair Value, Assets Measured on Non-Recurring Basis
(Dollars in thousands) |  | September 30, 2023 |
Description |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Other real estate owned: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | 145 |  |  |  | — |  |  |  | — |  |  |  | 145 |
Mortgage-commercial |  |  | 521 |  |  |  | — |  |  |  | — |  |  |  | 521 |
Total other real estate owned |  |  | 666 |  |  |  | — |  |  |  | — |  |  |  | 666 |
Total |  | $ | 666 |  |  | $ | — |  |  | $ | — |  |  | $ | 666 |
(Dollars in thousands) |  | December 31, 2022 |
Description |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Impaired loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-residential |  | $ | 34 |  |  | $ | — |  |  | $ | — |  |  | $ | 34 |
Mortgage-commercial |  |  | 4,752 |  |  |  | — |  |  |  | — |  |  |  | 4,752 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | 168 |  |  |  | — |  |  |  | — |  |  |  | 168 |
Total impaired loans |  |  | 4,954 |  |  |  | — |  |  |  | — |  |  |  | 4,954 |
Other real estate owned: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | 412 |  |  |  | — |  |  |  | — |  |  |  | 412 |
Mortgage-commercial |  |  | 522 |  |  |  | — |  |  |  | — |  |  |  | 522 |
Total other real estate owned |  |  | 934 |  |  |  | — |  |  |  | — |  |  |  | 934 |
Total |  | $ | 5,888 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,888 |
Fair Value Measurement Inputs and Valuation Techniques | For Level 3 assets and liabilities measured at fair value on a non-recurring basis as of September 30, 2023 and December 31, 2022, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value Measurement Inputs and Valuation Techniques
(Dollars in thousands) |  | Fair Value as of September 30, 2023 |  |  | Valuation Technique |  | Significant Observable Inputs |  | Significant Unobservable Inputs
OREO |  | $ | 666 |  |  | Appraisal Value/Comparison Sales/Other estimates |  | Appraisals and or sales of comparable properties |  | Appraisals discounted 6% to 16% for sales commissions and other holding cost
(Dollars in thousands) |  | Fair Value as of December 31, 2022 |  |  | Valuation Technique |  | Significant Observable Inputs |  | Significant Unobservable Inputs
OREO |  | $ | 934 |  |  | Appraisal Value/Comparison Sales/Other estimates |  | Appraisals and or sales of comparable properties |  | Appraisals discounted 6% to 16% for sales commissions and other holding cost
Impaired loans |  | $ | 4,954 |  |  | Appraisal Value |  | Appraisals and or sales of comparable properties |  | Appraisals discounted 6% to 16% for sales commissions and other holding cost

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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 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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