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Fair Value of Financial Instruments and Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, by Balance Sheet Grouping | Fair value estimates of the Company’s financial instruments as of March 31, 2024 and December 31, 2023, including methods and assumptions utilized, are set forth below: Schedule of Fair Value, by Balance Sheet Grouping
|  | As of March 31, 2024 |
|  | Carrying |  |  |  |  |  |  |  |  |  |  |  |  |
|  | amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 16,468 |  |  | $ | 16,468 |  |  | $ | - |  |  | $ | - |  |  | $ | 16,468 |
Interest-bearing deposits at other banks |  |  | 4,920 |  |  |  | - |  |  |  | 4,920 |  |  |  | - |  |  |  | 4,920 |
Investment securities available-for-sale |  |  | 437,276 |  |  |  | 93,683 |  |  |  | 343,593 |  |  |  | - |  |  |  | 437,276 |
Investment securities held-to-maturity |  |  | 3,584 |  |  |  | - |  |  |  | 3,104 |  |  |  | - |  |  |  | 3,104 |
Bank stocks, at cost |  |  | 7,850 |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |
Loans, net |  |  | 952,611 |  |  |  | - |  |  |  | - |  |  |  | 929,340 |  |  |  | 929,340 |
Loans held for sale |  |  | 2,697 |  |  |  | - |  |  |  | 2,697 |  |  |  | - |  |  |  | 2,697 |
Mortgage servicing rights |  |  | 2,977 |  |  |  | - |  |  |  | 9,713 |  |  |  | - |  |  |  | 9,713 |
Accrued interest receivable |  |  | 7,478 |  |  |  | 312 |  |  |  | 1,980 |  |  |  | 5,186 |  |  |  | 7,478 |
Derivative financial instruments |  |  | 256 |  |  |  | - |  |  |  | 256 |  |  |  | - |  |  |  | 256 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-maturity deposits |  | $ | (1,101,701 | ) |  | $ | (1,101,701 | ) |  | $ | - |  |  | $ | - |  |  | $ | (1,101,701 | )
Certificates of deposit |  |  | (191,823 | ) |  |  | - |  |  |  | (190,342 | ) |  |  | - |  |  |  | (190,342 | )
FHLB and other borrowings |  |  | (74,716 | ) |  |  | - |  |  |  | (74,492 | ) |  |  | - |  |  |  | (74,492 | )
Subordinated debentures |  |  | (21,651 | ) |  |  | - |  |  |  | (18,399 | ) |  |  | - |  |  |  | (18,399 | )
Repurchase agreements |  |  | (15,895 | ) |  |  | - |  |  |  | (15,895 | ) |  |  | - |  |  |  | (15,895 | )
Accrued interest payable |  |  | (1,922 | ) |  |  | - |  |  |  | (1,922 | ) |  |  | - |  |  |  | (1,922 | )
Derivative financial instruments |  |  | (11 | ) |  |  | - |  |  |  | (11 | ) |  |  | - |  |  |  | (11 | )
|  | As of December 31, 2023 |
|  | Carrying |  |  |  |  |  |  |  |  |  |  |  |  |
|  | amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 27,101 |  |  | $ | 27,101 |  |  | $ | - |  |  | $ | - |  |  | $ | 27,101 |
Interest-bearing deposits at other banks |  |  | 4,918 |  |  |  | - |  |  |  | 4,918 |  |  |  | - |  |  |  | 4,918 |
Investment securities available-for-sale |  |  | 452,769 |  |  |  | 95,667 |  |  |  | 357,102 |  |  |  | - |  |  |  | 452,769 |
Investment securities held-to-maturity |  |  | 3,555 |  |  |  | - |  |  |  | 3,049 |  |  |  | - |  |  |  | 3,049 |
Bank stocks, at cost |  |  | 8,123 |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |  |  |  | n/a |
Loans, net |  |  | 937,619 |  |  |  | - |  |  |  | - |  |  |  | 920,984 |  |  |  | 920,984 |
Loans held for sale |  |  | 853 |  |  |  | - |  |  |  | 853 |  |  |  | - |  |  |  | 853 |
Mortgage servicing rights |  |  | 3,158 |  |  |  | - |  |  |  | 9,498 |  |  |  | - |  |  |  | 9,498 |
Accrued interest receivable |  |  | 7,341 |  |  |  | 327 |  |  |  | 2,280 |  |  |  | 4,734 |  |  |  | 7,341 |
Derivative financial instruments |  |  | 114 |  |  |  | - |  |  |  | 114 |  |  |  | - |  |  |  | 114 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-maturity deposits |  | $ | (1,133,097 | ) |  | $ | (1,133,097 | ) |  | $ | - |  |  | $ | - |  |  | $ | (1,133,097 | )
Certificates of deposit |  |  | (183,154 | ) |  |  | - |  |  |  | (183,154 | ) |  |  | - |  |  |  | (183,154 | )
FHLB and other borrowings |  |  | (64,662 | ) |  |  | - |  |  |  | (65,478 | ) |  |  | - |  |  |  | (65,478 | )
Subordinated debentures |  |  | (21,651 | ) |  |  | - |  |  |  | (18,906 | ) |  |  | - |  |  |  | (18,906 | )
Repurchase agreements |  |  | (12,714 | ) |  |  | - |  |  |  | (12,714 | ) |  |  | - |  |  |  | (12,714 | )
Accrued interest payable |  |  | (1,979 | ) |  |  | - |  |  |  | (1,979 | ) |  |  | - |  |  |  | (1,979 | )
Derivative financial instruments |  |  | (14 | ) |  |  | - |  |  |  | (14 | ) |  |  | - |  |  |  | (14 | )
Schedule of Fair Value, Assets Measured On Recurring Basis | The following tables represent the Company’s financial instruments that are measured at fair value on a recurring basis at March 31, 2024 and December 31, 2023, allocated to the appropriate fair value hierarchy: Schedule of Fair Value, Assets Measured On Recurring Basis
(Dollars in thousands) |  |  |  |  | As of March 31, 2024 |
|  |  |  |  | Fair value hierarchy |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale investment securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. treasury securities |  | $ | 93,683 |  |  | $ | 93,683 |  |  | $ | - |  |  | $ | - |
Municipal obligations, tax exempt |  |  | 118,445 |  |  |  | - |  |  |  | 118,445 |  |  |  | - |
Municipal obligations, taxable |  |  | 75,371 |  |  |  | - |  |  |  | 75,371 |  |  |  | - |
Agency mortgage-backed securities |  |  | 149,777 |  |  |  | - |  |  |  | 149,777 |  |  |  | - |
Loans held for sale |  |  | 2,697 |  |  |  | - |  |  |  | 2,697 |  |  |  | - |
Derivative financial instruments |  |  | 256 |  |  |  | - |  |  |  | 256 |  |  |  | - |
Liability: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments |  |  | (11 | ) |  |  | - |  |  |  | (11 | ) |  |  | - |
|  |  |  |  | As of December 31, 2023 |
|  |  |  |  | Fair value hierarchy |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale investment securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U. S. treasury securities |  | $ | 95,667 |  |  | $ | 95,667 |  |  | $ | - |  |  | $ | - |
Municipal obligations, tax exempt |  |  | 120,623 |  |  |  | - |  |  |  | 120,623 |  |  |  | - |
Municipal obligations, taxable |  |  | 79,083 |  |  |  | - |  |  |  | 79,083 |  |  |  | - |
Agency mortgage-backed securities |  |  | 157,396 |  |  |  | - |  |  |  | 157,396 |  |  |  | - |
Loans held for sale |  |  | 853 |  |  |  | - |  |  |  | 853 |  |  |  | - |
Derivative financial instruments |  |  | 114 |  |  |  | - |  |  |  | 114 |  |  |  | - |
Liability: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments |  |  | (14 | ) |  |  | - |  |  |  | (14 | ) |  |  | - |
Schedule of Fair Value Contractual Balance and Gain Loss On Loans Held for Sale | The aggregate fair value, contractual balance (including accrued interest), and gains on loans held for sale were as follows: Schedule of Fair Value Contractual Balance and Gain Loss On Loans Held for Sale
|  | As of |  |  | As of |
|  | March 31, |  |  | December 31, |
(Dollars in thousands) |  | 2024 |  |  | 2023 |
Aggregate fair value |  | $ | 2,697 |  |  | $ | 853 |
Contractual balance |  |  | 2,669 |  |  |  | 848 |
Gain |  | $ | 28 |  |  | $ | 5 |
Schedule of Gains and Losses from Changes in Fair Value of Loans Held for Sale | Schedule of Gains and Losses from Changes in Fair Value of Loans Held for Sale
|  | Three months ended |
|  | March 31, |
(Dollars in thousands) |  | 2024 |  |  | 2023 |
Total change in fair value |  | $ | 145 |  |  | $ | 111 |
Schedule of Fair Value Measurements On Nonrecurring, Valuation Techniques | The following table presents quantitative information about Level 3 fair value measurements measured at fair value on a nonrecurring basis as of March 31, 2024 and December 31, 2023. Schedule of Fair Value Measurements On Nonrecurring, Valuation Techniques
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |
|  | Fair value |  |  | Valuation technique |  | Unobservable inputs |  | Range |
As of March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Individual evaluated loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  | $ | 1,468 |  |  | Sales comparison |  | Adjustment to comparable value |  |  | 0%-50% |
Agriculture |  |  | 56 |  |  | Sales comparison |  | Adjustment to appraised value |  |  | 20%-50% |
Real estate held-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  | 4,195 |  |  | Sales comparison |  | Adjustment to comparable value |  |  | 15 | %
As of December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Individual evaluated loans: |  |  |  |  |  |  |  |  |  |  |  |
One-to-four family residential real estate |  | $ | 31 |  |  | Sales comparison |  | Adjustment to appraised value |  |  | 7 | %
Commercial |  |  | 1,386 |  |  | Sales comparison |  | Adjustment to comparable value |  |  | 0%-50% |
Real estate owned: |  |  |  |  |  |  |  |  |  |  |  |
One-to-four family residential real estate |  |  | 266 |  |  | Sales comparison |  | Adjustment to appraised value |  |  | 10 | %

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