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Fair Value (Tables)

12 Months Ended

Dec. 31, 2021


			Quoted Prices in
			Active Markets		Significant		Significant
			for Identical		Observable		Unobservable
	Balance		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)

	December 31, 2021
Assets:
U.S. Treasury securities	$	59,825	$	59,825	$	—	$	—
U.S. government agency mortgage-backed securities-residential		176,491		—		176,491		—
U.S. government agency securities		24,722		—		24,722		—
Municipal securities		6,851		—		6,706		145
Corporate Bonds		11,752		—		11,752		—
Other		642		—		642		—
Total available for sale securities		280,283		59,825		220,313		145
Loan level interest rate swaps		644		—		644		—
Total assets	$	280,927	$	59,825	$	220,957	$	145
Liabilities:
Loan level interest rate swaps	$	644	$	—	$	644	$	—
Total liabilities	$	644	$	—	$	644	$	—


	December 31, 2020
Assets:
U.S. government agency mortgage-backed securities – residential	$	89,270	$	—	$	89,270	$	—
U.S. government agency securities		7,161		—		7,161		—
Municipal securities		1,476		—		1,316		160
Corporate Bonds		4,446		—		4,446		—
Other		580		—		580		—
Total available for sale securities		102,933		—		102,773		160
Loan level interest rate swaps		40		—		40		—
Total assets	$	102,973	$	—	$	102,813	$	160
Liabilities:
Loan level interest rate swaps	$	40	$	—	$	40	$	—
Total liabilities	$	40	$	—	$	40	$	—


			Quoted Prices in
			Active Markets		Significant		Significant
			for Identical		Observable		Unobservable
	Balance		Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)

	December 31, 2021
Impaired loans, with specific reserves	$	321	$	—	$	—	$	321
Total	$	321	$	—	$	—	$	321


	December 31, 2020
Impaired loans, with specific reserves	$	509	$	—	$	—	$	509
Other real estate owned		139		—		—		139
Total	$	648	$	—	$	—	$	648


	Quantitative Information About Level 3 Fair Value Measurements
	Fair Value		Valuation		Unobservable		Range
	Estimate		Techniques		Input		(Weighted Average)

	December 31, 2021
Impaired loans	$	321	Appraisal of collateral	⁽¹⁾	Liquidation expenses	⁽³⁾	0% to 6%
					Appraisal adjustments	⁽²⁾	0% to 20%

	December 31, 2020
Impaired loans	$	509	Appraisal of collateral	⁽¹⁾	Liquidation expenses	⁽³⁾	0% to 6%
					Appraisal adjustments	⁽²⁾	0% to 20%
Other real estate owned		139	Appraisal of collateral	⁽¹⁾	Liquidation expenses	⁽³⁾	0% to 6%
					Appraisal adjustments	⁽²⁾	0% to 20%

(1)	Fair value is generally through independent appraisals of the underlying collateral that generally include various level 3 inputs which are not identifiable.

(2)	Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraised value.

(3)	Estimated costs to sell.


	December 31,				December 31,
	2021				2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets:
Cash and due from banks (Level 1)	$	72,091	$	72,091	$	93,485	$	93,485
Available for sale securities (Level 1)		59,825		59,825		—		—
Available for sale securities (Level 2)		220,313		220,313		102,773		102,773
Available for sale securities (Level 3)		145		145		160		160
Loan level interest rate swaps (Level 2)		644		644		40		40
FHLB stock (Level 2)		1,322		1,322		2,787		2,787
Loans, net (Level 3)		854,967		855,542		873,813		876,699
Mortgage servicing rights (Level 3)		2,633		4,892		2,390		3,569
Financial Liabilities:
Deposits (Level 2)		1,101,999		1,083,541		929,364		941,460
Mortgagors' escrow accounts (Level 2)		9,130		9,137		8,494		8,501
FHLB advances (Level 2)		18,041		18,151		50,674		51,468
Subordinated debt (Level 2)		5,155		5,155		5,155		5,155
Loan level interest rate swaps (Level 2)		644		644		40		40