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Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2025

Investments, All Other Investments [Abstract]

Fair Value, by Balance Sheet Grouping

The Company’s estimated fair values of financial instruments are presented in the following table.

				June 30, 2025								December 31, 2024
		Fair value		Carrying				Fair				Carrying				Fair
(dollars in thousands)		hierarchy		amount				value				amount				value
Financial assets
Cash and cash equivalents		Level 1		$	56,323			$	56,323			$	70,500			$	70,500
Equity investment		Level 1			406				406				391				391
Securities held to maturity		Level 2			5,832				5,128				5,979				5,171
Securities held to available for sale		Level 2			35,359				35,359				37,259				37,259
Federal Home Loan Bank of Atlanta stock		Level 2			656				656				1,366				1,366
Loans receivable		Level 3			742,414				743,944				729,238				722,005
Accrued interest receivable		Level 2			3,243				3,243				3,161				3,161
Financial liabilities
Deposits		Level 3		$	658,891			$	585,332			$	651,491			$	574,273
FHLB Borrowings		Level 2			—				—				15,000				15,000
Subordinated Debentures		Level 3			34,961				32,977				34,883				31,117
Accrued interest payable		Level 2			645				645				346				346

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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://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-SubTopic 10
-Topic 825
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-13

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-12

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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- References

No definition available.

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