XML 34 R24.htm IDEA: XBRL DOCUMENT v3.25.1
Fair Value (Tables)
3 Months Ended
Mar. 31, 2025
Fair Value  
Summary of financial instruments measured on recurring basis

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2025

 

 

 

Fair Value Measurements

 

 

Level 1

Valuation

 

 

Level 2

Valuation

 

 

Level 3

Valuation

 

U.S. Treasuries

 

$7,398

 

 

 

-

 

 

 

7,398

 

 

 

-

 

U.S. Government sponsored enterprises

 

 

5,704

 

 

 

-

 

 

 

5,704

 

 

 

-

 

GSE - Mortgage-backed securities

 

 

212,853

 

 

 

-

 

 

 

212,853

 

 

 

-

 

Private label mortgage-backed securities

 

 

41,073

 

 

 

-

 

 

 

41,073

 

 

 

-

 

State and political subdivisions

 

 

107,322

 

 

 

-

 

 

 

107,322

 

 

 

-

 

Mutual funds held in deferred compensation trust

 

 

 2,740

 

 

 

 2,740

 

 

 

 -

 

 

 

 -

 

 

(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

 

 

 

-

 

 Mutual funds held in deferred compensation trust

 

 

 2,726

 

 

 

 2,726

 

 

 

 -

 

 

 

 -

 

Summary of all fair value measurements for individually evaluated loans and other real estate

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value

March 31, 2025

 

 

Fair Value

December 31, 2024

 

 

Valuation

Technique

 

Significant

Unobservable

Inputs

 

General Range

of Significant

Unobservable

Input Values

 

Individually evaluated loans

 

$1,984

 

 

$1,646

 

 

Appraised value

 

Discounts to reflect current market conditions and ultimate collectability

 

0 - 50%

 

Other real estate

 

$125

 

 

$369

 

 

Appraised value

 

Discounts to reflect current market conditions and estimated costs to sell

 

0 - 25%

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

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at March 31, 2025

 

 

 

 Carrying

Amount

 

 

 Level 1

 

 

 Level 2

 

 

 Level 3

 

 

 Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$102,520

 

 

 

102,520

 

 

 

-

 

 

 

-

 

 

 

102,520

 

Investment securities available for sale

 

 

374,350

 

 

 

-

 

 

 

374,350

 

 

 

-

 

 

 

374,350

 

Other investments

 

 

2,674

 

 

 

-

 

 

 

-

 

 

 

2,674

 

 

 

2,674

 

Mortgage loans held for sale

 

 

544

 

 

 

-

 

 

 

544

 

 

 

-

 

 

 

544

 

Loans, net

 

 

1,142,033

 

 

 

-

 

 

 

-

 

 

 

1,139,464

 

 

 

1,139,464

 

Mutual funds held in deferred

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

compensation trust

 

 

2,740

 

 

 

2,740

 

 

 

-

 

 

 

-

 

 

 

2,740

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$1,517,569

 

 

 

-

 

 

 

1,519,747

 

 

 

-

 

 

 

1,519,747

 

Junior subordinated debentures

 

 

15,464

 

 

 

-

 

 

 

15,464

 

 

 

-

 

 

 

15,464

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2024

 

 

 

 Carrying

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