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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following table presents assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 and 2023.

		Fair Value Measurements as of December 31, 2024 Using
		Totals At December 31, 2024				Quoted Prices in Active Markets For Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(Dollars in Thousands)
Investment securities, available-for-sale
Mortgage-backed securities:
Residential		$	85,282			$	—			$	85,282			$	—
Commercial			11,920				—				11,920				—
Obligations of U.S. government-sponsored agencies			10,834				—				10,834				—
Obligations of states and political subdivisions			1,549				—				1,549				—
Corporate notes			15,944								15,944				—
U.S. Treasury securities			42,359				42,359				—				—
Derivative contracts:
Other assets - interest rate swaps			678				—				678				—
Other assets - interest rate floors			18				—				18				—
Other liabilities - credit risk participation agreements			54				—				54				—

		Fair Value Measurements as of December 31, 2023 Using
		Totals At December 31, 2023				Quoted Prices in Active Markets For Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(Dollars in Thousands)
Investment securities, available-for-sale
Mortgage-backed securities:
Residential		$	44,728			$	—			$	44,728			$	—
Commercial			9,040				—				9,040				—
Obligations of U.S. government-sponsored agencies			11,280				—				11,280				—
Obligations of states and political subdivisions			1,558				—				1,558				—
Corporate notes			14,957								14,957				—
U.S. Treasury securities			54,002				54,002				—				—
Derivative contracts:
Other liabilities - interest rate swaps			119				—				119				—

Fair Value Assets Measured on Nonrecurring Basis

The following table presents the balances of collateral dependent loans, OREO and other assets held-for-sale measured at fair value on a non-recurring basis as of December 31, 2024 and 2023:

		Fair Value Measurements as of December 31, 2024 Using
		Totals At December 31, 2024				Quoted Prices in Active Markets For Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(Dollars in Thousands)
Collateral dependent loans		$	2,026			$	—			$	—			$	2,026
OREO and other assets held-for-sale			1,509				—				—				1,509

		Fair Value Measurements as of December 31, 2023 Using
		Totals At December 31, 2023				Quoted Prices in Active Markets For Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(Dollars in Thousands)
Collateral dependent loans		$	51			$	—			$	—			$	51
OREO and other assets held-for-sale			602				—				—				602

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques

Following the tables is a description of the valuation technique and the sensitivity of the technique to changes in the significant unobservable input.

		Level 3 Significant Unobservable Input Assumptions
		Fair Value December 31, 2024		Valuation Technique		Unobservable Input		Quantitative Range of Unobservable Inputs (Weighted Average)
		(Dollars in Thousands)
Non-recurring fair value measurements:
Collateral dependent loans		$2,026		Multiple data points, including discount to appraised value of collateral based on recent market activity		Appraisal comparability adjustment (discount)		9%-10%		9.5%
OREO and other assets held-for-sale		$1,509		Discount to appraised value of property based on recent market activity for sales of similar properties		Appraisal comparability adjustment (discount)		9%-10%		9.5%

		Level 3 Significant Unobservable Input Assumptions
		Fair Value December 31, 2023		Valuation Technique		Unobservable Input		Quantitative Range of Unobservable Inputs (Weighted Average)
		(Dollars in Thousands)
Non-recurring fair value measurements:
Collateral dependent loans		$51		Multiple data points, including discount to appraised value of collateral based on recent market activity		Appraisal comparability adjustment (discount)		9%-10%		9.5%
OREO and other assets held-for-sale		$602		Discount to appraised value of property based on recent market activity for sales of similar properties		Appraisal comparability adjustment (discount)		9%-10%		9.5%

Fair Value, by Balance Sheet Grouping

The estimated fair value and related carrying or notional amounts, as well as the level within the fair value hierarchy, of the Company’s financial instruments as of December 31, 2024 and 2023 were as follows:

		December 31, 2024
		Carrying Amount				Estimated Fair Value				Level 1				Level 2				Level 3
		(Dollars in Thousands)
Assets:
Cash and cash equivalents		$	47,216			$	47,216			$	47,216			$	—			$	—
Investment securities available-for-sale			167,888				167,888				42,359				125,529				—
Investment securities held-to-maturity			682				642				—				642				—
Federal funds sold and securities purchased under reverse repurchase agreements			5,727				5,727				—				5,727				—
Federal Home Loan Bank stock			1,256				1,256				—				—				1,256
Loans, net of allowance for credit losses			812,855				759,870				—				—				759,870
Other assets - interest rate swaps			678				678				—				678				—
Other assets - interest rate floors			18				18				—				18				—
Liabilities:
Deposits			972,557				893,814				—				893,814				—
Short-term borrowings			10,000				10,000				—				10,000				—
Long-term borrowings			10,872				9,590								9,590
Other liabilities - credit risk participation agreements			54				54				—				54				—

		December 31, 2023
		Carrying Amount				Estimated Fair Value				Level 1				Level 2				Level 3
		(Dollars in Thousands)
Assets:
Cash and cash equivalents		$	50,279			$	50,279			$	50,279			$	—			$	—
Investment securities available-for-sale			135,565				135,565				54,002				81,563				—
Investment securities held-to-maturity			1,104				1,041				—				1,041				—
Federal funds sold			9,475				9,475				—				9,475				—
Federal Home Loan Bank stock			1,201				1,201				—				—				1,201
Loans, net of allowance for loan losses			811,284				773,800				—				—				773,800
Liabilities:
Deposits			950,191				882,746				—				882,746				—
Short-term borrowings			10,000				10,000				—				10,000				—
Long-term borrowings			10,799				9,814								9,814

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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