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Fair Value (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value [Abstract]  
Assets And Liabilities Measured At Fair Value On A Recurring Basis, Including Financial Assets And Liabilities

Fair Value Measurements at December 31, 2023 Using Significant Other Observable Inputs

(Level 2)

Financial Assets:

Securities available for sale:

Corporate debt

$

7,100

Issued by U.S. government-sponsored entities and agencies:

U.S. Treasury

988

Mortgage-backed securities - residential

4

Total securities available for sale

$

8,092

Loans held for sale

$

1,849

Derivative assets

$

4,710

Financial Liabilities:

Derivative liabilities

$

4,710

Fair Value Measurements at December 31, 2022 Using Significant Other Observable Inputs

(Level 2)

Financial Assets:

Securities available for sale:

Corporate debt

$

7,500

Issued by U.S. government-sponsored entities and agencies:

U.S. Treasury

2,925

Mortgage-backed securities - residential

17

Total securities available for sale

$

10,442

Loans held for sale

$

580

Derivative assets

$

4,233

Financial Liabilities:

Derivative liabilities

$

4,233
Assets Measured At Fair Value On A Non-Recurring Basis Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2023 are summarized below:

Fair Value Measurements at December 31, 2023 Using

Significant Unobservable Inputs (Level 3)

Impaired loans:

Commercial

$

403

There was a total of $564 in write downs on two impaired collateral-dependent loans during the year ended December 31, 2023. Impaired loans that are measured for impairment using the fair value of the collateral for collateral-dependent loans had a principal balance of $448 with a valuation allowance of $45 at December 31, 2023.


‎

Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2022 are summarized below:

Fair Value Measurements at December 31, 2022 Using

Significant Unobservable Inputs (Level 3)

Impaired loans:

Commercial

$

80

Other assets held for sale

$

1,930
Financial Instruments Measured At Fair Value On A Non-Recurring Basis The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2023:

Fair Value

Valuation Technique(s)

Unobservable Inputs

(Range) Weighted Average

Impaired loans:

Commercial

$

403 

Comparable sales approach

Adjustment for differences between the stated value and net realizable value

10.43%

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2022:

Fair Value

Valuation Technique(s)

Unobservable Inputs

(Range) Weighted Average

Impaired loans:

Commercial

$

80 

Comparable sales approach

Adjustment for differences between the stated value and net realizable value

64.00%

Other assets held for sale

$

1,930 

Contract value less costs to sell

Sales commission

4.00%
Aggregate Fair Value, Contractual Balance And Gain Or Loss

December 31, 2023

December 31, 2022

Aggregate fair value

$

1,849

$

580

Contractual balance

1,849

580

Gain

-  

-  
Total Amount Of Gains And Losses From Changes In Fair Value Included In Earnings

2023

2022

2021

Interest income

$

30

$

172

$

5,572

Interest expense

-  

-  

-  

Change in fair value

-  

(356)

(8,408)

Total change in fair value

$

30

$

(184)

$

(2,836)
Carrying Amounts And Estimated Fair Values Of Financial Instruments The carrying amounts and estimated fair values of financial instruments at year-end 2023 were as follows:

Fair Value Measurements at December 31, 2023 Using:

Carrying

Value

Level 1

Level 2

Level 3

Total

Financial assets

Cash and cash equivalents

$

261,595

$

261,595

$

-  

$

-  

$

261,595

Interest-bearing deposits in other financial institutions

100

100

-  

-  

100

Securities available for sale

8,092

-  

8,092

-  

8,092

Equity securities

5,000

-  

5,000

-  

5,000

Loans held for sale

1,849

-  

1,849

-  

1,849

Loans and leases, net

1,694,133

-  

-  

1,670,885

1,670,885

FHLB and FRB stock

8,482

n/a

n/a

n/a

n/a

Accrued interest receivable

9,210

171

125

8,914

9,210

Derivative assets

4,710

-  

4,710

-  

4,710

Financial liabilities

Deposits

$

(1,744,057)

$

(1,080,605)

$

(659,492)

$

-  

$

(1,740,097)

FHLB advances and other debt

(109,995)

-  

(108,294)

-  

(108,294)

Advances by borrowers for taxes and insurance

(2,179)

-  

-  

(2,179)

(2,179)

Subordinated debentures

(14,961)

-  

(17,345)

-  

(17,345)

Accrued interest payable

(2,680)

-  

(2,680)

-  

(2,680)

Derivative liabilities

(4,710)

-  

(4,710)

-  

(4,710)

The carrying amounts and estimated fair values of financial instruments at year-end 2022 were as follows:

Fair Value Measurements at December 31, 2022 Using:

Carrying

Value

Level 1

Level 2

Level 3

Total

Financial assets

Cash and cash equivalents

$

151,787

$

151,787

$

-  

$

-  

$

151,787

Interest-bearing deposits in other financial institutions

100

100

-  

-  

100

Securities available for sale

10,442

-  

10,442

-  

10,442

Equity securities

5,000

-  

5,000

-  

5,000

Loans held for sale

580

-  

580

-  

580

Loans and leases, net

1,572,255

-  

-  

1,542,796

1,542,796

FHLB and FRB stock

7,942

n/a

n/a

n/a

n/a

Accrued interest receivable

8,067

70

176

7,821

8,067

Other assets held for sale

1,930

-  

-  

1,930

1,930

Derivative assets

4,233

-  

4,233

-  

4,233

Financial liabilities

Deposits

$

(1,527,922)

$

(969,797)

$

(545,871)

$

-  

$

(1,515,668)

FHLB advances and other debt

(109,461)

-  

(105,715)

-  

(105,715)

Advances by borrowers for taxes and insurance

(3,513)

-  

-  

(3,513)

(3,513)

Subordinated debentures

(14,922)

-  

(14,621)

-  

(14,621)

Accrued interest payable

(840)

-  

(840)

-  

(840)

Derivative liabilities

(4,233)

-  

(4,233)

-  

(4,233)