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Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Carrying Amounts and Fair Values of Financial Instruments | A summary of the carrying amounts and fair values of the Company’s financial instruments at September 30, 2024 and December 31, 2023 is as follows:
|  |  |  |  | September 30, 2024
|  |  |  |  | Fair Value Measurements
| September 30, 2024 |  | Quoted Prices in Active Markets for Identical Assets |  | Other Observable Inputs |  | Net Significant Unobservable Inputs
(dollars in thousands) | Carrying amount |  | Fair value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 19,411 |  |  | $ | 19,411 |  |  | $ | 19,411 |  |  | $ | — |  |  | $ | — |
Federal funds sold and overnight interest-bearing deposits | 34,813 |  | 34,813 |  | 34,813 |  | — |  | —
Certificates of deposit in other banks | 1,000 |  | 1,000 |  | 1,000 |  | — |  | —
Available-for-sale securities | 203,292 |  | 203,292 |  | — |  | 203,292 |  | —
Other investment securities | 5,727 |  | 5,727 |  | 72 |  | 5,655 |  | —
Loans, net | 1,444,814 |  | 1,352,128 |  | — |  | — |  | 1,352,128
Loans held for sale | 315 |  | 315 |  | — |  | 315 |  | —
Accrued interest receivable | 8,284 |  | 8,284 |  | 8,284 |  | — |  | —
Liabilities: |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |
Non-interest bearing demand | $ | 390,639 |  |  | $ | 390,639 |  |  | $ | 390,639 |  |  | $ | — |  |  | $ | — |
Savings, interest checking and money market | 811,954 |  | 811,954 |  | 811,954 |  | — |  | —
Time deposits | 300,911 |  | 299,856 |  | — |  | — |  | 299,856
FHLB advances and other borrowings | 96,525 |  | 96,924 |  | 100 |  | 96,824 |  | —
Subordinated notes | 49,486 |  | 40,365 |  | — |  | 40,365 |  | —
Accrued interest payable | 1,755 |  | 1,755 |  | 1,755 |  | — |  | —
|  |  |  |  | December 31, 2023
|  |  |  |  | Fair Value Measurements
| December 31, 2023 |  | Quoted Prices in Active Markets for Identical Assets |  | Other Observable Inputs |  | Net Significant Unobservable Inputs
(dollars in thousands) | Carrying amount |  | Fair value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 15,675 |  |  | $ | 15,675 |  |  | $ | 15,675 |  |  | $ | — |  |  | $ | — |
Federal funds sold and overnight interest-bearing deposits | 77,775 |  |  | 77,775 |  |  | 77,775 |  |  | — |  |  | — |
Available-for-sale securities | 188,742 |  |  | 188,742 |  |  | 1,978 |  |  | 186,764 |  |  | — |
Other investment securities | 6,300 |  |  | 6,300 |  |  | 78 |  |  | 6,222 |  |  | — |
Loans, net | 1,515,403 |  |  | 1,364,533 |  |  | — |  |  | — |  |  | 1,364,533 |
Loans held for sale | 3,884 |  |  | 3,884 |  |  | — |  |  | 3,884 |  |  | — |
Interest rate lock commitments | 43 |  |  | 43 |  |  | — |  |  | — |  |  | 43 |
Accrued interest receivable | 8,661 |  |  | 8,661 |  |  | 8,661 |  |  | — |  |  | — |
Liabilities: |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |
Non-interest bearing demand | $ | 402,241 |  |  | $ | 402,241 |  |  | $ | 402,241 |  |  | $ | — |  |  | $ | — |
Savings, interest checking and money market | 846,452 |  |  | 846,452 |  |  | 846,452 |  |  | — |  |  | — |
Time deposits | 322,151 |  |  | 319,929 |  |  | — |  |  | — |  |  | 319,929 |
FHLB advances and other borrowings | 107,000 |  |  | 107,245 |  |  | — |  |  | 107,245 |  |  | — |
Subordinated notes | 49,486 |  |  | 38,939 |  |  | — |  |  | 38,939 |  |  | — |
Interest rate lock commitments | 2 |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
Forward sale commitments | 41 |  |  | 41 |  |  | — |  |  | 41 |  |  | — |
Accrued interest payable | 1,772 |  |  | 1,772 |  |  | 1,772 |  |  | — |  |  | — |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- References No definition available. + Details
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