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FAIR VALUE (Tables) | 6 Months Ended
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Jun. 30, 2023
Fair Values of Financial Instruments |
Schedule of changes in asset subject to fair value measurement by Level | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Fair
(dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Value
June 30, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateralized mortgage obligations | ​ | $ | — | ​ | $ | 14,283 | ​ | $ | — | ​ | $ | 14,283
Agency mortgage-backed securities | ​ |  | — | ​ |  | 48,616 | ​ |  | — | ​ |  | 48,616
Municipal securities | ​ |  | — | ​ |  | 33,098 | ​ |  | — | ​ |  | 33,098
Corporate securities | ​ | ​ | — | ​ | ​ | 1,255 | ​ | ​ | — | ​ | ​ | 1,255
U.S. Government agency securities | ​ | ​ | — | ​ |  | 36,985 | ​ |  | — | ​ |  | 36,985
U.S. Treasury securities | ​ | ​ | — | ​ | ​ | 16,583 | ​ | ​ | — | ​ | ​ | 16,583
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans | ​ |  | — | ​ |  | — | ​ |  | 512 | ​ |  | 512
​ | ​ | $ | — | ​ | $ | 150,820 | ​ | $ | 512 | ​ | $ | 151,332
December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collateralized mortgage obligations | ​ | $ | — | ​ | $ | 15,255 | ​ | $ | — | ​ | $ | 15,255
Agency mortgage-backed securities | ​ |  | — | ​ |  | 51,893 | ​ |  | — | ​ |  | 51,893
Municipal securities | ​ |  | — | ​ |  | 32,297 | ​ |  | — | ​ |  | 32,297
Corporate securities | ​ | ​ | — | ​ | ​ | 1,325 | ​ | ​ | — | ​ | ​ | 1,325
U.S. Government agency securities | ​ | ​ | — | ​ | ​ | 36,580 | ​ | ​ | — | ​ | ​ | 36,580
U.S. Treasury securities | ​ | ​ | — | ​ | ​ | 6,783 | ​ | ​ | — | ​ | ​ | 6,783
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​
Impaired loans | ​ |  | — | ​ |  | — | ​ |  | 330 | ​ |  | 330
​ | ​ | $ | — | ​ | $ | 144,133 | ​ | $ | 330 | ​ | $ | 144,463
Schedule of estimated fair values of financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2023 | ​ | December 31, 2022 | ​
(dollars in thousands) | ​ | Carrying | ​ | Fair | ​ | Carrying | ​ | Fair | ​
​ |  | Amount |  | Value |  | Amount |  | Value |
Financial assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and due from banks | ​ | $ | 1,965 | ​ | $ | 1,965 | ​ | $ | 2,035 | ​ | $ | 2,035 | ​
Interest-bearing deposits in other financial institutions | ​ |  | 9,458 | ​ |  | 9,458 | ​ |  | 22,680 | ​ |  | 22,680 | ​
Federal funds sold | ​ |  | 325 | ​ |  | 325 | ​ |  | 5,377 | ​ |  | 5,377 | ​
Investment securities available for sale | ​ |  | 150,820 | ​ |  | 150,820 | ​ |  | 144,133 | ​ |  | 144,133 | ​
Investments in restricted stock | ​ | ​ | 403 | ​ | ​ | 403 | ​ | ​ | 221 | ​ | ​ | 221 | ​
Ground rents | ​ |  | 128 | ​ |  | 128 | ​ |  | 131 | ​ |  | 131 | ​
Loans, less allowance for credit losses | ​ |  | 178,329 | ​ |  | 167,999 | ​ |  | 184,278 | ​ |  | 177,254 | ​
Accrued interest receivable | ​ |  | 1,139 | ​ |  | 1,139 | ​ |  | 1,159 | ​ |  | 1,159 | ​
Cash value of life insurance | ​ |  | 8,572 | ​ |  | 8,572 | ​ |  | 8,493 | ​ |  | 8,493 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ |  | 329,224 | ​ |  | 272,655 | ​ |  | 362,947 | ​ |  | 299,773 | ​
Short-term borrowings | ​ | ​ | 15,000 | ​ | ​ | 15,000 | ​ | ​ | — | ​ | ​ | — | ​
Accrued interest payable | ​ |  | 17 | ​ |  | 17 | ​ |  | 9 | ​ |  | 9 | ​
Unrecognized financial instruments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commitments to extend credit | ​ |  | 30,610 | ​ |  | 30,610 | ​ |  | 30,718 | ​ |  | 30,718 | ​
Standby letters of credit | ​ |  | 45 | ​ |  | 45 | ​ |  | 45 | ​ |  | 45 | ​
Schedule of fair value hierarchy of financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(dollars in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | Fair | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
June 30, 2023 |  | Amount |  | Value |  | Level 1 |  | Level 2 |  | Level 3
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial instruments - Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 11,748 | ​ | $ | 11,748 | ​ | $ | 11,748 |  | $ | — | ​ | $ | —
Loans receivable, net | ​ |  | 178,329 | ​ |  | 167,999 | ​ |  | — |  |  | — | ​ |  | 167,999
Cash value of life insurance | ​ |  | 8,572 | ​ |  | 8,572 | ​ |  | — |  |  | 8,572 | ​ |  | —
Financial instruments - Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits | ​ |  | 329,224 | ​ |  | 272,655 | ​ |  | — |  |  | 272,655 | ​ |  | —
Short-term debt | ​ |  | 15,000 | ​ |  | 15,000 | ​ |  | — |  |  | 15,000 | ​ |  | —

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