XML 77 R38.htm IDEA: XBRL DOCUMENT v3.25.0.1
Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value of Financial Instruments  
Summary of all fair value measurements for individually evaluated loans and other real estate

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Fair Value

December 31, 2024

 

 

Fair Value

December 31, 2023

 

 

Valuation Technique

 

Significant Unobservable Inputs

 

General Range of Significant Unobservable Input Values

 

Individually evaluated loans

 

$1,646

 

 

$-

 

 

 Appraised value 

 

Discounts to reflect current market conditions and ultimate collectability

 

0 - 50%

 

Other real estate

 

$369

 

 

 

-

 

 

 Appraised value

 

Discounts to reflect current market conditions and estimated costs to sell

 

0 - 25%

 
Summary of financial instruments measured on recurring basis

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

Fair Value

Measurements

 

 

Level 1

Valuation

 

 

Level 2

Valuation

 

 

Level 3

Valuation

 

U.S. Treasuries

 

$7,257

 

 

 

-

 

 

 

7,257

 

 

 

-

 

U.S. Government sponsored enterprises

 

 

8,732

 

 

 

-

 

 

 

8,732

 

 

 

-

 

GSE - Mortgage-backed securities

 

 

225,792

 

 

 

-

 

 

 

225,792

 

 

 

-

 

Private label mortgage-backed securities

 

 

41,767

 

 

 

-

 

 

 

41,767

 

 

 

-

 

State and political subdivisions

 

 

104,455

 

 

 

-

 

 

 

104,455

 

 

 

-

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

 

Fair Value

Measurements

 

 

Level 1

Valuation

 

 

Level 2

Valuation

 

 

Level 3

Valuation

 

U.S. Treasuries

 

$10,144

 

 

 

-

 

 

 

10,144

 

 

 

-

 

U.S. Government sponsored enterprises

 

 

10,515

 

 

 

-

 

 

 

10,515

 

 

 

-

 

GSE - Mortgage-backed securities

 

 

234,902

 

 

 

-

 

 

 

234,902

 

 

 

-

 

Private label mortgage-backed securities

 

 

31,270

 

 

 

-

 

 

 

31,270

 

 

 

-

 

State and political subdivisions

 

 

105,093

 

 

 

-

 

 

 

105,093

 

 

 

-

 

Carrying amount and estimated fair value of the Company's financial instruments

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrying

 

 

Fair Value Measurements at December 31, 2024

 

 

 

Amount

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$59,266

 

 

 

59,266

 

 

 

-

 

 

 

-

 

 

 

59,266

 

Investment securities available for sale

 

 

388,003

 

 

 

-

 

 

 

388,003

 

 

 

-

 

 

 

388,003

 

Other investments

 

 

2,728

 

 

 

-

 

 

 

-

 

 

 

2,728

 

 

 

2,728

 

Mortgage loans held for sale

 

 

1,367

 

 

 

-

 

 

 

1,367

 

 

 

-

 

 

 

1,367

 

Loans, net

 

 

1,128,409

 

 

 

-

 

 

 

-

 

 

 

1,123,864

 

 

 

1,123,864

 

Mutual funds held in deferred compensation trust

 

 

2,726

 

 

 

2,726

 

 

 

-

 

 

 

-

 

 

 

2,726

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$1,484,731

 

 

 

-

 

 

 

1,487,475

 

 

 

-

 

 

 

1,487,475

 

Junior subordinated debentures

 

 

15,464

 

 

 

-

 

 

 

15,464

 

 

 

-

 

 

 

15,464

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Carrying

 

 

Fair Value Measurements at December 31, 2023

 

 

 

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