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FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, by Balance Sheet Grouping

The carrying amount and estimated fair value by classification Level of the Company’s financial instruments as of December 31, 2024 and December 31, 2023 are as follows: 

Schedule of Fair Value, by Balance Sheet Grouping

		December 31, 2024
		Carrying				Fair Value
(Dollars in thousands)		Amount				Total				Level 1				Level 2				Level 3
Financial Assets:
Cash and short term investments		$	149,828			$	149,828			$	149,828			$	—			$	—
Available-for-sale securities			279,582				279,582				—				279,582				—
Held-to-maturity securities			209,413				196,040				—				196,040				—
Other investments, at cost			2,679				2,679				—				—				2,679
Loans held for sale			9,662				9,662				—				9,662				—
Derivative financial instruments			896				896								896
Net loans receivable			1,207,407				1,160,013				—				—				1,160,013
Accrued interest			6,084				6,084				6,084				—				—
Financial liabilities:
Non-interest bearing demand		$	462,717			$	462,717			$	—			$	462,717			$	—
Interest bearing demand deposits and money market accounts			770,595				770,595				—				770,595				—
Savings			113,928				113,928				—				113,928				—
Time deposits			328,661				321,258				—				321,258				—
Total deposits			1,675,901				1,668,498				—				1,668,498				—
Short term borrowings			103,110				103,110				—				103,110				—
Junior subordinated debentures			14,964				13,042				—				13,042				—
Accrued interest payable			4,666				4,666				4,666				—				—

		December 31, 2023
		Carrying				Fair Value
(Dollars in thousands)		Amount				Total				Level 1				Level 2				Level 3
Financial Assets:
Cash and short term investments		$	94,695			$	94,965			$	94,695			$	—			$	—
Available-for-sale securities			282,226				282,226				—				282,226				—
Held-to-maturity securities			217,170				205,518				—				205,518				—
Other investments, at cost			6,800				6,800				—				—				6,800
Loans held for sale			4,433				4,433				—				4,433				—
Derivative financial instruments			1,069				1,069								1,069
Net loans receivable			1,121,752				1,088,053				—				—				1,088,053
Accrued interest			5,869				5,869				5,869				—				—
Financial liabilities:
Non-interest bearing demand		$	432,333			$	432,333			$	—			$	432,333			$	—
Interest bearing demand deposits and money market accounts			707,434				707,434				—				707,434				—
Savings			118,623				118,623				—				118,623				—
Time deposits			252,611				252,137				—				252,137				—
Total deposits			1,511,001				1,510,527				—				1,510,527				—
Federal Home Loan Bank Advances			90,000				90,000				—				90,000				—
Short term borrowings			62,863				62,863				—				62,863				—
Junior subordinated debentures			14,964				13,123				—				13,123				—
Accrued interest payable			3,575				3,575				3,575				—				—

Schedule of Fair Value, Assets Measured on Recurring Basis

The following table summarizes quantitative disclosures about the fair value for each category of assets carried at fair value as of December 31, 2024 and December 31, 2023 that are measured on a recurring basis. There were no liabilities carried at fair value as of December 31, 2024 or December 31, 2023 that are measured on a recurring basis. 

Schedule of Fair Value, Assets Measured on Recurring Basis

AVAILABLE-FOR-SALE:

Dollars in thousands)

Description		December 31, 2024				(Level 1)				(Level 2)				(Level 3)
Available- for-sale securities
US Treasury Securities		$	13,240			$	—			$	13,240			$	—
Government Sponsored Enterprises			2,110				—				2,110				—
Mortgage-backed securities			244,204				—				244,204				—
Small Business Administration pools			12,079				—				12,079				—
Corporate and other securities			7,949				—				7,949				—
Total Available-for-sale securities			279,582				—				279,582				—
Loans held for sale			9,662				—				9,662				—
Derivative financial instruments			896				—				896				—
Total		$	290,140			$	—			$	290,140			$	—

(Dollars in thousands)

Description		December 31, 2023				(Level 1)				(Level 2)				(Level 3)
Available- for-sale securities
US Treasury Securities		$	18,346			$	—			$	18,346			$	—
Government Sponsored Enterprises			2,129				—				2,129				—
Mortgage-backed securities			238,159				—				238,159				—
Small Business Administration pools			15,721				—				15,721				—
Corporate and other securities			7,871				—				7,871				—
Total Available-for-sale securities			282,226				—				282,226				—
Loans held for sale			4,433				—				4,433				—
Derivative financial instruments			1,069				—				1,069				—
Total		$	287,728			$	—			$	287,728			$	—

Schedule of 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 December 31, 2024 and December 31, 2023 that are measured on a non-recurring basis. There were no liabilities carried at fair value and measured on a non-recurring basis at December 31, 2024 and 2023. 

Schedule of Fair Value, Assets Measured on Non-Recurring Basis

(Dollars in thousands)
Description		December 31, 2024				(Level 1)				(Level 2)				(Level 3)
Other real estate owned:
Construction			144				—				—				144
Mortgage-commercial			399				—				—				399
Total other real estate owned			543				—				—				543
Total		$	543			$	—			$	—			$	543
(Dollars in thousands)
Description		December 31, 2023				(Level 1)				(Level 2)				(Level 3)
Other real estate owned:
Construction			145				—				—				145
Mortgage-commercial			477				—				—				477
Total other real estate owned			622				—				—				622
Total		$	622			$	—			$	—			$	622

Schedule of Fair Value Measurement Inputs and Valuation Techniques

For Level 3 assets and liabilities measured at fair value on a non-recurring basis as of December 31, 2024 and December 31, 2023, the significant unobservable inputs used in the fair value measurements were as follows:

Schedule of Fair Value Measurement Inputs and Valuation Techniques

(Dollars in thousands)

Fair Value as of December 31, 2024

Valuation Technique

Significant Observable Inputs

Significant Unobservable Inputs

OREO

$

543

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, 2023

Valuation Technique

Significant Observable Inputs

Significant Unobservable Inputs

OREO

$

622

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

X

- 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.

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