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Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value of Financial Instruments  
Carrying amount and estimated fair value of the Company's financial instruments

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2023

 

 

 

 Carrying Amount

 

 

 Level 1

 

 

 Level 2

 

 

 Level 3

 

 

 Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$82,375

 

 

 

82,375

 

 

 

-

 

 

 

-

 

 

 

82,375

 

Investment securities available for sale

 

 

391,924

 

 

 

-

 

 

 

391,924

 

 

 

-

 

 

 

391,924

 

Other investments

 

 

2,874

 

 

 

-

 

 

 

-

 

 

 

2,874

 

 

 

2,874

 

Mortgage loans held for sale

 

 

686

 

 

 

-

 

 

 

-

 

 

 

686

 

 

 

686

 

Loans, net

 

 

1,082,025

 

 

 

-

 

 

 

-

 

 

 

1,071,178

 

 

 

1,071,178

 

Mutual funds held in deferred compensation trust

 

 

2,171

 

 

 

2,171

 

 

 

-

 

 

 

-

 

 

 

2,171

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$1,392,045

 

 

 

-

 

 

 

-

 

 

 

1,397,351

 

 

 

1,397,351

 

Securities sold under agreements to repurchase

 

 

86,715

 

 

 

-

 

 

 

86,715

 

 

 

-

 

 

 

86,715

 

Junior subordinated debentures

 

 

15,464

 

 

 

-

 

 

 

15,464

 

 

 

-

 

 

 

15,464

 

  

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2022

 

 

 

 Carrying Amount

 

 

 Level 1

 

 

 Level 2

 

 

 Level 3

 

 

 Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$71,596

 

 

 

71,596

 

 

 

-

 

 

 

-

 

 

 

71,596

 

Investment securities available for sale

 

 

445,394

 

 

 

-

 

 

 

445,394

 

 

 

-

 

 

 

445,394

 

Other investments

 

 

2,656

 

 

 

-

 

 

 

-

 

 

 

2,656

 

 

 

2,656

 

Mortgage loans held for sale

 

 

211

 

 

 

-

 

 

 

-

 

 

 

211

 

 

 

211

 

Loans, net

 

 

1,022,114

 

 

 

-

 

 

 

-

 

 

 

998,587

 

 

 

998,587

 

Mutual funds held in deferred compensation trust

 

 

1,327

 

 

 

1,327

 

 

 

-

 

 

 

-

 

 

 

1,327

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$1,435,215

 

 

 

-

 

 

 

-

 

 

 

1,434,871

 

 

 

1,434,871

 

Securities sold under agreements to repurchase

 

 

47,688

 

 

 

-

 

 

 

47,688

 

 

 

-

 

 

 

47,688

 

Junior subordinated debentures

 

 

15,464

 

 

 

-

 

 

 

15,464

 

 

 

-

 

 

 

15,464

 
summary of present the balance of mutual funds

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

 

Fair Value Measurements

 

 

Level 1 Valuation

 

 

Level 2 Valuation

 

 

Level 3 Valuation

 

Mutual funds held in deferred compensation trust

 

$2,171

 

 

 

-

 

 

 

2,171

 

 

 

-

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

 

Fair Value Measurements

 

 

Level 1 Valuation

 

 

Level 2 Valuation

 

 

Level 3 Valuation

 

Mutual funds held in deferred compensation trust

 

$1,327

 

 

 

-

 

 

 

1,327

 

 

 

-