XML 51 R39.htm IDEA: XBRL DOCUMENT

Fair Value (Tables)

12 Months Ended

Dec. 31, 2022


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

	December 31, 2022
Assets:
U.S. Treasury securities	$	37,857	$	37,857	$	—	$	—
U.S. government agency mortgage-backed securities-residential		144,534		—		144,534		—
U.S. government agency securities		22,449		—		22,449		—
Municipal securities		4,786		—		4,656		130
Corporate Bonds		13,217		—		13,217		—
Other		816		—		816		—
Total available for sale securities		223,659		37,857		185,672		130
Loan level interest rate swaps		4,548		—		4,548		—
Total assets	$	228,207	$	37,857	$	190,220	$	130
Liabilities:
Loan level interest rate swaps	$	4,548	$	—	$	4,548	$	—
Total liabilities	$	4,548	$	—	$	4,548	$	—


	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	$	—


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

	December 31, 2022
Impaired loans, with specific reserves	$	319	$	—	$	—	$	319
Total	$	319	$	—	$	—	$	319


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


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

	December 31, 2022
Impaired loans	$	319	Appraisal of collateral	⁽¹⁾	Liquidation expenses	⁽³⁾	0% to 6%
					Appraisal adjustments	⁽²⁾	0% to 20%

	December 31, 2021
Impaired loans	$	321	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,
	2022				2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets:
Cash and cash equivalents (Level 1)	$	31,384	$	31,384	$	72,091	$	72,091
Available for sale securities (Level 1)		37,857		37,857		59,825		59,825
Available for sale securities (Level 2)		185,672		185,672		220,313		220,313
Available for sale securities (Level 3)		130		130		145		145
Loan level interest rate swaps (Level 2)		4,548		4,548		644		644
FHLB stock (Level 2)		3,258		3,258		1,322		1,322
Loans, net (Level 3)		994,368		953,432		854,967		855,542
Mortgage servicing rights (Level 3)		2,409		5,211		2,633		4,892
Financial Liabilities:
Deposits (Level 2)		1,129,933		1,001,455		1,101,999		1,083,541
Mortgagors' escrow accounts (Level 2)		9,732		9,723		9,130		9,137
FHLB advances (Level 2)		57,723		57,739		18,041		18,151
Subordinated debt (Level 2)		5,155		5,155		5,155		5,155
Loan level interest rate swaps (Level 2)		4,548		4,548		644		644