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Fair Value (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value  
Summary of financial instruments measured on recurring basis

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value June 30, 2025

 

 

Fair Value December 31, 2024

 

 

Valuation Technique

 

Significant Unobservable Inputs

 

General Range of Significant Unobservable Input Values

 

Individually evaluated loans

 

$1,915

 

 

$1,646

 

 

 Appraised value 

 

Discounts to reflect current market conditions and ultimate collectability

 

0 - 58%

 

Other real estate

 

$-

 

 

$369

 

 

 Appraised value

 

Discounts to reflect current market conditions and estimated costs to sell

 

0 - 25%

 
Summary of all fair value measurements for individually evaluated loans and other real estate

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at June 30, 2025

 

 

 

 Carrying Amount

 

 

 Level 1

 

 

 Level 2

 

 

 Level 3

 

 

 Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$102,000

 

 

 

102,000

 

 

 

-

 

 

 

-

 

 

 

102,000

 

Investment securities available for sale

 

 

371,614

 

 

 

-

 

 

 

371,614

 

 

 

-

 

 

 

371,614

 

Other investments

 

 

2,648

 

 

 

-

 

 

 

-

 

 

 

2,648

 

 

 

2,648

 

Mortgage loans held for sale

 

 

1,541

 

 

 

-

 

 

 

1,541

 

 

 

-

 

 

 

1,541

 

Loans, net

 

 

1,148,183

 

 

 

-

 

 

 

-

 

 

 

1,148,442

 

 

 

1,148,442

 

Mutual funds held in deferred compensation trust

 

 

2,760

 

 

 

2,760

 

 

 

-

 

 

 

-

 

 

 

2,760

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$1,513,819

 

 

 

-

 

 

 

1,516,160

 

 

 

-

 

 

 

1,516,160

 

Junior subordinated debentures

 

 

15,464

 

 

 

-

 

 

 

15,464

 

 

 

-

 

 

 

15,464

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2024

 

 

 

 Carrying Amount

 

 

 Level 1

 

 

 Level 2

 

 

 Level 3

 

 

 Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$59,266

 

 

 

59,266

 

 

 

-

 

 

 

-

 

 

 

59,266

 

Investment securities available for sale

 

 

388,003

 

 

 

-

 

 

 

388,003

 

 

 

-

 

 

 

388,003

 

Other investments

 

 

2,728

 

 

 

-

 

 

 

-

 

 

 

2,728

 

 

 

2,728

 

Mortgage loans held for sale

 

 

1,367

 

 

 

-

 

 

 

1,367

 

 

 

-

 

 

 

1,367

 

Loans, net

 

 

1,128,409

 

 

 

-

 

 

 

-

 

 

 

1,123,864

 

 

 

1,123,864

 

Mutual funds held in deferred compensation trust

 

 

2,726

 

 

 

2,726

 

 

 

-

 

 

 

-

 

 

 

2,726

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$1,484,731

 

 

 

-

 

 

 

1,487,475

 

 

 

-

 

 

 

1,487,475

 

Junior subordinated debentures

 

 

15,464

 

 

 

-

 

 

 

15,464

 

 

 

-

 

 

 

15,464

 

Carrying amount and estimated fair value of the Company's financial instruments

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2025

 

 

 

Fair Value Measurements

 

 

Level 1 Valuation

 

 

Level 2 Valuation

 

 

Level 3 Valuation

 

U.S. Treasuries

 

$7,480

 

 

 

-

 

 

 

7,480

 

 

 

-

 

U.S. Government sponsored enterprises

 

 

5,552

 

 

 

-

 

 

 

5,552

 

 

 

-

 

GSE - Mortgage-backed securities

 

 

210,473

 

 

 

-

 

 

 

210,473

 

 

 

-

 

Private label mortgage-backed securities

 

 

40,306

 

 

 

-

 

 

 

40,306

 

 

 

-

 

State and political subdivisions

 

 

107,803

 

 

 

-

 

 

 

107,803

 

 

 

-

 

Mutual funds held in deferred compensation trust

 

 

2,760

 

 

 

2,760

 

 

 

-

 

 

 

-

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

Fair Value Measurements

 

 

Level 1 Valuation

 

 

Level 2 Valuation

 

 

Level 3 Valuation

 

U.S. Treasuries

 

$7,257

 

 

 

-

 

 

 

7,257

 

 

 

-

 

U.S. Government sponsored enterprises

 

 

8,732

 

 

 

-

 

 

 

8,732

 

 

 

-

 

GSE - Mortgage-backed securities

 

 

225,792

 

 

 

-

 

 

 

225,792

 

 

 

-

 

Private label mortgage-backed securities

 

 

41,767

 

 

 

-

 

 

 

41,767

 

 

 

-

 

State and political subdivisions

 

 

104,455

 

 

 

-

 

 

 

104,455

 

 

 

-

 

Mutual funds held in deferred compensation trust

 

 

2,726

 

 

 

2,726

 

 

 

-

 

 

 

-