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Fair Value (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value [Abstract] |
Assets And Liabilities Measured At Fair Value On A Recurring Basis, Including Financial Assets And Liabilities |
| Fair Value Measurements at ‎ June 30, 2024 using Significant ‎Other Observable Inputs
| (Level 2)
| (unaudited)
Financial Assets: |  |
Securities available for sale: |  |
Corporate debt | $ | 7,150
Issued by U.S. government-sponsored entities and agencies: |  |
U.S. Treasury |  | 1,173
Total securities available for sale | $ | 8,323
Loans held for sale | $ | 3,187
Derivative assets | $ | 3,983
Financial Liabilities: |  |
Derivative liabilities | $ | 3,983
| 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
Assets Measured At Fair Value On A Non-Recurring Basis |
Fair Value Measurements at June 30, 2024 Using
Significant Unobservable Inputs (Level 3)
(unaudited)
Collateral dependent impaired loans: |  |
Commercial | $ | 124
Total collateral dependent impaired loans | $ | 124
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)
Collateral dependent impaired loans: |  |
Commercial | $ | 403
Total collateral dependent impaired loans | $ | 403
Financial Instruments Measured At Fair Value On A Non-Recurring Basis |
|  | Fair Value |  | Valuation Technique(s) |  | Unobservable Inputs |  | Weighted Average
Collateral dependent impaired loans: |  |  |  |  |  |  |  |
Commercial | $ | 124 |  | Comparable sales approach |  | Adjustment for differences between the stated value and net realizable value |  | 10.00%
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 |  | Weighted Average
Collateral dependent impaired loans: |  |  |  |  |  |  |  |
Commercial | $ | 403 |  | Comparable sales approach |  | Adjustment for differences between the stated value and net realizable value |  | 10.43%
Aggregate Fair Value, Contractual Balance And Gain Or Loss |
| June 30, 2024 |  | December 31, 2023
| (unaudited) |  |  |
Aggregate fair value | $ | 3,187 |  | $ | 1,849
Contractual balance |  | 3,187 |  |  | 1,849
Gain (loss) | $ | - |  | $ | -
Total Amount Of Gains And Losses From Changes In Fair Value Included In Earnings |
| Three months ended June 30, |  | Six months ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (unaudited) |  | (unaudited)
Interest income | $ | 31 |  | $ | 10 |  | $ | 59 |  | $ | 13
Interest expense |  | - |  |  | - |  |  | - |  |  | -
Change in fair value |  | - |  |  | - |  |  | - |  |  | -
Total change in fair value | $ | 31 |  | $ | 10 |  | $ | 59 |  | $ | 13
Carrying Amounts And Estimated Fair Values Of Financial Instruments | The carrying amounts and estimated fair values of financial instruments at June 30, 2024 were as follows:
| Fair Value Measurements at June 30, 2024 Using:
| Carrying |  |  |  |  |  |  |  |  |  |  |  |
(unaudited) | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 241,775 |  | $ | 241,775 |  | $ | - |  | $ | - |  | $ | 241,775
Interest-bearing deposits in other financial institutions |  | 100 |  |  | 100 |  |  | - |  |  | - |  |  | 100
Securities available for sale |  | 8,323 |  |  | - |  |  | 8,323 |  |  | - |  |  | 8,323
Equity securities |  | 5,000 |  |  | - |  |  | 5,000 |  |  | - |  |  | 5,000
Loans held for sale |  | 3,187 |  |  | - |  |  | 3,187 |  |  | - |  |  | 3,187
Loans and leases, net |  | 1,687,695 |  |  | - |  |  | - |  |  | 1,651,370 |  |  | 1,651,370
FHLB and FRB stock |  | 9,830 |  |  | n/a |  |  | n/a |  |  | n/a |  |  | n/a
Accrued interest receivable |  | 9,559 |  |  | 140 |  |  | 137 |  |  | 9,282 |  |  | 9,559
Derivative assets |  | 3,983 |  |  | - |  |  | 3,983 |  |  | - |  |  | 3,983
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits | $ | (1,696,476) |  | $ | (1,018,376) |  | $ | (675,034) |  | $ | - |  | $ | (1,693,410)
FHLB advances and other borrowings |  | (137,163) |  |  | - |  |  | (135,389) |  |  | - |  |  | (135,389)
Advances by borrowers for taxes and insurance |  | (154) |  |  | - |  |  | - |  |  | (154) |  |  | (154)
Subordinated debentures |  | (14,980) |  |  | - |  |  | (17,165) |  |  | - |  |  | (17,165)
Accrued interest payable |  | (3,058) |  |  | - |  |  | (3,058) |  |  | - |  |  | (3,058)
Derivative liabilities |  | (3,983) |  |  | - |  |  | (3,983) |  |  | - |  |  | (3,983)
The carrying amounts and estimated fair values of financial instruments at December 31, 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 borrowings |  | (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)

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 102 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-102 + Details
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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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