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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Measurements

Schedule of fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis


					Fair Value Measurements Using
					Quoted Prices
					in Active			Significant
					Markets for			Other			Significant
					Identical			Observable			Unobservable
					Assets			Inputs			Inputs
		Fair Value			(Level 1)			(Level 2)			(Level 3)

		(In thousands)
March 31, 2025
U.S. government agencies		$	12,340		$	—		$	12,340		$	—
Subordinated Notes			24,428			—			24,428			—
State and municipal obligations			193,075			—			193,075			—


December 31, 2024
U.S. government agencies		$	12,254		$	—		$	12,254		$	—
Subordinated Notes			24,118			—			24,118			—
State and municipal obligations			204,259			—			204,259			—

Schedule of fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a non-recurring basis


					Fair Value Measurements Using
					Quoted Prices
					in Active			Significant
					Markets for			Other			Significant
					Identical			Observable			Unobservable
		Fair			Assets			Inputs			Inputs
		Value			(Level 1)			(Level 2)			(Level 3)

		(In thousands)
March 31, 2025
Collateral dependent loans		$	—		$	—		$	—		$	—
Foreclosed assets held for sale			—			—			—			—

December 31, 2024
Collateral dependent loans		$	—		$	—		$	—		$	—
Foreclosed assets held for sale			120			—			—			120

Schedule of quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements


		Fair Value at			Valuation		Unobservable
		3/31/25			Technique		Inputs		Range

		(In thousands)
Collateral-dependent loans		$	—		Market comparable properties		Comparability adjustments		5% – 10%
Foreclosed assets held for sale			—		Market comparable properties		Marketability discount		10% – 35%


		Fair Value at			Valuation		Unobservable
		12/31/24			Technique		Inputs		Range

		(In thousands)
Collateral-dependent loans		$	—		Market comparable properties		Comparability adjustments		5% – 10%
Foreclosed assets held for sale			120		Market comparable properties		Marketability discount		10% – 35%

Schedule of estimated fair values of company's financial instruments


					Fair Value Measurements Using
					Quoted Prices
					in Active			Significant
					Markets for			Other			Significant
					Identical			Observable			Unobservable
		Carrying			Assets			Inputs			Inputs
		Amount			(Level 1)			(Level 2)			(Level 3)

		(In thousands)
March 31, 2025:

Financial assets
Cash and cash equivalents		$	36,403		$	36,403		$	—		$	—
Loans, net of allowance			492,771			—			—			475,232
Federal Home Loan Bank			4,026			—			4,026			—
Accrued interest receivable			3,499			—			3,499			—

Financial liabilities
Deposits			624,081			—			622,690			—
Securities sold under repurchase agreements			37,565			—			37,805			—
Subordinated debentures			23,863			—			24,279			—
Advance Federal Home Loan Bank			75,000			—			75,205			—
Interest payable			612			—			612			—


					Fair Value Measurements Using
					Quoted Prices
					in Active			Significant
					Markets for			Other			Significant
					Identical			Observable			Unobservable
		Carrying			Assets			Inputs			Inputs
		Amount			(Level 1)			(Level 2)			(Level 3)

		(In thousands)
December 31, 2024:

Financial assets
Cash and cash equivalents		$	19,608		$	19,608		$	—		$	—
Loans, net of allowance			486,945			—			—			466,951
Federal Home Loan Bank stock			4,026			—			4,026			—
Accrued interest receivable			4,322			—			4,322			—

Financial liabilities
Deposits			613,494			—			614,869			—
Short term borrowings			30,494			—			30,494			—
Subordinated debentures			23,847			—			24,386			—
Advance Federal Home Loan Bank			75,000			—			74,728			—
Interest payable			831			—			831			—