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Disclosures about Fair Value of Assets and Liabilities (Tables)
12 Months Ended
Dec. 31, 2023
Disclosures about Fair Value of Assets and Liabilities [Abstract]  
Schedule of Fair Value Assets Measured on Recurring Basis The following table presents the fair value measurements of securities measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fell at December 31, 2023 and 2022:
($ in thousands)  Fair value at
December 31, 2023
   (Level 1)   (Level 2)   (Level 3) 
                 
U.S. Treasury and Government Agencies  $6,517   $
-
   $6,517   $
-
 
Mortgage-backed securities   188,867    
-
    188,867    
-
 
State and political subdivisions   9,898    
-
    9,898    
-
 
Other corporate securities   14,426    
-
    14,426    
-
 
Interest rate contracts - assets   3,638    
-
    3,638    
-
 
Interest rate contracts - liabilities   (3,638)   
-
    (3,638)   
-
 
Forward contracts   (37)   (37)   
-
    
-
 
IRLCs   45    
-
    
-
    45 
($ in thousands)  Fair value at
December 31, 2022
   (Level 1)   (Level 2)   (Level 3) 
                 
U.S. Treasury and Government Agencies  $6,764   $
-
   $6,764   $
-
 
Mortgage-backed securities   205,835    
-
    205,835    
-
 
State and political subdivisions   11,103    
-
    11,103    
-
 
Other corporate securities   15,078    
-
    15,078    
-
 
Interest rate contracts - assets   5,538    
-
    5,538    
-
 
Interest rate contracts - liabilities   (5,538)   
-
    (5,538)   
-
 
Forward contracts   26    26    
-
    
-
 
IRLCs   (20)   
-
    
-
    (20)
Schedule of Fair Value Measurements Recognized in the Accompanying Consolidated Balance Sheets Using Significant Unobservable (Level 3) Inputs The following table reconciles the beginning and ending balances of recurring fair value measurements recognized in the accompanying consolidated balance sheets using significant unobservable (Level 3) inputs for the years ended December 31, 2023 and 2022.
   for the Twelve Months Ended
December 31,
 
($ in thousands)  2023   2022 
Interest rate lock commitments          
Balance at beginning of period  $(20)  $22 
Change in fair value   65    (42)
Balance at end of period  $45   $(20)

 

Schedule of Mortgage Servicing Rights are Tested for Impairment on a Quarterly Basis The following table presents the fair value measurements of assets measured at fair value on a non-recurring basis and the level within the fair value hierarchy in which the fair value measurements fell at December 31, 2023 and 2022:
($ in thousands)  Fair value at
December 31,
2023
   (Level 1)   (Level 2)   (Level 3) 
Collateral-dependent Individually evaluated loans  $864   $
    -
   $
    -
   $864 
Mortgage servicing rights   1,896    
-
    
-
    1,896 
($ in thousands)  Fair value at
December 31,
2022
    (Level 1)    (Level 2)   (Level 3) 
Collateral-dependent impaired loans  $1,028   $
     -
   $
     -
   $1,028 
Mortgage servicing rights   1,448    
-
    
-
    1,448 
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements at December 31, 2023 and 2022:
($ in thousands)  Fair value at
December 31,
2023
   Valuation
technique
  Unobservable inputs  Range
(weighted-
average)
 
               
Collateral-dependent individually evaluated loans  $864   Market comparable properties  Comparability adjustments (%)   2 - 100% (25%)
Mortgage servicing rights   1,896   Discounted cash flow  Discount rate   11.01%
           Constant prepayment rate   7.16%
           P&I earnings credit   5.33%
           T&I earnings credit   5.13%
           Inflation for cost of servicing   3.50%
                 
IRLCs   45   Discounted cash flow  Loan closing rates   27% - 91%
($ in thousands)  Fair value at
December 31,
2022
   Valuation
technique
  Unobservable inputs  Range
(weighted-
average)
 
                
Collateral-dependent impaired loans  $1,028   Market comparable properties  Comparability adjustments (%)   8 - 21% (12%)
Mortgage servicing rights   1,448   Discounted cash flow  Discount rate   11.39%
           Constant prepayment rate   7.52%
           P&I earnings credit   4.35%
           T&I earnings credit   4.58%
           Inflation for cost of servicing   3.50%
                 
IRLCs   (20)  Discounted cash flow  Loan closing rates   41% - 99%
Schedule of Estimated Fair Values Financial Instruments the Company does not know whether the fair values shown below represent values at which the respective financial instruments could be sold individually or in the aggregate.
($ in thousands)  Carrying    Fair   Fair value measurements using 
December 31,2023  amount   value   (Level 1)   (Level 2)   (Level 3) 
Financial assets                    
Cash and due from banks  $22,965   $22,965   $22,965   $
-
   $
-
 
Interest bearing time deposits   1,535    1,535    
-
    1,535    
-
 
Loans held for sale   2,525    2,565    
-
    2,565    
-
 
Loans, net of allowance for credit losses   984,426    964,216    
-
    
-
    964,216 
Federal Reserve and FHLB Bank stock, at cost   7,279    7,279    
-
    7,279    
-
 
Interest receivable   4,657    4,657    
-
    4,657    
-
 
                          
Financial liabilities                         
Deposits  $1,070,205   $1,078,028   $814,696   $263,332   $
-
 
Short-term borrowings   13,387    13,387    
-
    13,387    
-
 
FHLB advances   83,600    83,368    
-
    83,368    
-
 
Trust preferred securities   10,310    9,759    
-
    9,759    
-
 
Subordinated debt, net of issuance costs   19,642    19,435    
-
    19,435    
-
 
Interest payable   2,443    2,443    
-
    2,443    
-
 

 

($ in thousands)  Carrying   Fair   Fair value measurements using 
December 31, 2022  amount   value   (Level 1)   (Level 2)   (Level 3) 
Financial assets                    
Cash and due from banks  $ 27,817   $27,817   $27,817   $
-
   $
-
 
Interest bearing time deposits   2,131    2,131    
-
    2,131    
-
 
Loans held for sale   2,073    2,100    
-
    2,100    
-
 
Loans, net of allowance for loan losses    948,257    945,699    
-
    -    945,699 
Federal Reserve and FHLB Bank stock, at cost   6,326    6,326    
-
    6,326    
-
 
Interest receivable   4,091    4,091    
-
    4,091    
-
 
                          
Financial liabilities                         
Deposits  $1,086,665   $1,090,718   $895,785   $194,933   $
-
 
Short-term borrowings   14,923    14,923    
-
    14,923    
-
 
FHLB advances   60,000    59,886    
-
    59,886    
-
 
Trust preferred securities   10,310    9,674    
-
    9,674    
-
 
Subordinated debt, net of issuance costs   19,594    18,959    
-
    18,959    
-
 
Interest payable   769    769    
-
    769    
-