Fair Value (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value [Abstract]

Assets And Liabilities Measured At Fair Value On A Recurring Basis, Including Financial Assets And Liabilities

	Fair Value Measurements at ‎ September 30, 2024 using Significant ‎Other Observable Inputs
	(Level 2)
	(unaudited)
Financial Assets:
Securities available for sale:
Corporate debt	$	7,500
Issued by U.S. government-sponsored entities and agencies:
U.S. Treasury		1,190
Total securities available for sale	$	8,690
Loans held for sale	$	5,240
Derivative assets	$	4,474
Financial Liabilities:
Derivative liabilities	$	4,474

	Fair Value Measurements at ‎ December 31, 2023 using Significant ‎Other Observable Inputs
	(Level 2)
Financial Assets:
Securities available for sale:
Corporate debt	$	7,100
Issued by U.S. government-sponsored entities and agencies:
U.S. Treasury		988
Mortgage-backed securities - residential		4
Total securities available for sale	$	8,092
Loans held for sale	$	1,849
Derivative assets	$	4,710
Financial Liabilities:
Derivative liabilities	$	4,710

Assets Measured At Fair Value On A Non-Recurring Basis

There were no assets or liabilities measured at fair value on a non-recurring basis at September 30, 2024. Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2023 are summarized below:

Fair Value Measurements at December 31, 2023 Using
Significant Unobservable Inputs (Level 3)
Collateral dependent impaired loans:
Commercial	$	403
Total collateral dependent impaired loans	$	403

Financial Instruments Measured At Fair Value On A Non-Recurring Basis

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2023:

		Fair Value	Valuation Technique(s)	Unobservable Inputs	Weighted Average
Collateral dependent impaired loans:
Commercial	$	403	Comparable sales approach	Adjustment for differences between the stated value and net realizable value	10.43%

Aggregate Fair Value, Contractual Balance And Gain Or Loss

	September 30, 2024		December 31, 2023
	(unaudited)
Aggregate fair value	$	5,240	$	1,849
Contractual balance		5,240		1,849
Gain (loss)	$	-	$	-

Total Amount Of Gains And Losses From Changes In Fair Value Included In Earnings

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
	(unaudited)				(unaudited)
Interest income	$	59	$	10	$	118	$	23
Interest expense		-		-		-		-
Change in fair value		-		-		-		-
Total change in fair value	$	59	$	10	$	118	$	23

Carrying Amounts And Estimated Fair Values Of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at September 30, 2024 were as follows:

	Fair Value Measurements at September 30, 2024 Using:
	Carrying
(unaudited)	Value		Level 1		Level 2		Level 3		Total
Financial Assets
Cash and cash equivalents	$	233,520	$	233,520	$	-	$	-	$	233,520
Interest-bearing deposits in other financial institutions		100		100		-		-		100
Securities available for sale		8,690		-		8,690		-		8,690
Equity securities		5,000		-		5,000		-		5,000
Loans held for sale		5,240		-		5,240		-		5,240
Loans and leases, net		1,717,075		-		-		1,705,869		1,705,869
FHLB and FRB stock		8,908		n/a		n/a		n/a		n/a
Accrued interest receivable		9,721		331		198		9,192		9,721
Derivative assets		4,474		-		4,474		-		4,474
Financial Liabilities
Deposits	$	(1,745,576)	$	(1,044,519)	$	(702,237)	$	-	$	(1,746,756)
FHLB advances and other borrowings		(108,672)		-		(109,872)		-		(109,872)
Advances by borrowers for taxes and insurance		(1,214)		-		-		(1,214)		(1,214)
Subordinated debentures		(14,990)		-		(17,127)		-		(17,127)
Accrued interest payable		(2,736)		-		(2,736)		-		(2,736)
Derivative liabilities		(4,474)		-		(4,474)		-		(4,474)

The carrying amounts and estimated fair values of financial instruments at December 31, 2023 were as follows:

	Fair Value Measurements at December 31, 2023 Using:
	Carrying
	Value		Level 1		Level 2		Level 3		Total
Financial Assets
Cash and cash equivalents	$	261,595	$	261,595	$	-	$	-	$	261,595
Interest-bearing deposits in other financial institutions		100		100		-		-		100
Securities available for sale		8,092		-		8,092		-		8,092
Equity securities		5,000		-		5,000		-		5,000
Loans held for sale		1,849		-		1,849		-		1,849
Loans and leases, net		1,694,133		-		-		1,670,885		1,670,885
FHLB and FRB stock		8,482		n/a		n/a		n/a		n/a
Accrued interest receivable		9,210		171		125		8,914		9,210
Derivative assets		4,710		-		4,710		-		4,710
Financial Liabilities
Deposits	$	(1,744,057)	$	(1,080,605)	$	(659,492)	$	-	$	(1,740,097)
FHLB advances and other borrowings		(109,995)		-		(108,294)		-		(108,294)
Advances by borrowers for taxes and insurance		(2,179)		-		-		(2,179)		(2,179)
Subordinated debentures		(14,961)		-		(17,345)		-		(17,345)
Accrued interest payable		(2,680)		-		(2,680)		-		(2,680)
Derivative liabilities		(4,710)		-		(4,710)		-		(4,710)