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Fair Value (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024 Using Significant Other Observable Inputs
	(Level 2)
Financial Assets:
Securities available for sale:
Corporate debt	$	7,700
Issued by U.S. government-sponsored entities and agencies:
U.S. Treasury		983
Total securities available for sale	$	8,683
Loans held for sale	$	2,623
Derivative assets	$	3,730
Financial Liabilities:
Derivative liabilities	$	3,730

	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

There were no assets or liabilities measured at fair value on a non-recurring basis at December 31, 2024. 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

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%

Aggregate Fair Value, Contractual Balance And Gain Or Loss

	December 31, 2024			December 31, 2023
Aggregate fair value	$	2,623		$	1,849
Contractual balance		2,623			1,849
Gain		-			-

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

	2024			2023			2022
Interest income	$	175		$	30		$	172
Interest expense		-			-			-
Change in fair value		-			-			(356)
Total change in fair value	$	175		$	30		$	(184)

Carrying Amounts And Estimated Fair Values Of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at year-end 2024 were as follows:

	Fair Value Measurements at December 31, 2024 Using:
	Carrying
	Value			Level 1			Level 2			Level 3			Total
Financial assets
Cash and cash equivalents	$	235,272		$	235,272		$	-		$	-		$	235,272
Interest-bearing deposits in other financial institutions		100			100			-			-			100
Securities available for sale		8,683			-			8,683			-			8,683
Equity securities		5,000			-			5,000			-			5,000
Loans held for sale		2,623			-			2,623			-			2,623
Loans and leases, net		1,722,019			-			-			1,691,030			1,691,030
FHLB and FRB stock		8,918			n/a			n/a			n/a			n/a
Accrued interest receivable		8,395			182			151			8,062			8,395
Derivative assets		3,730			-			3,730			-			3,730
Financial liabilities
Deposits	$	(1,755,795)		$	(1,065,780)		$	(689,282)		$	-		$	(1,755,062)
FHLB advances and other debt		(92,680)			-			(94,414)			-			(94,414)
Advances by borrowers for taxes and insurance		(2,238)			-			-			(2,238)			(2,238)
Subordinated debentures		(15,000)			-			(17,021)			-			(17,021)
Accrued interest payable		(2,259)			-			(2,259)			-			(2,259)
Derivative liabilities		(3,730)			-			(3,730)			-			(3,730)

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)

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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.

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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).

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