Fair Value and Interest Rate Risk (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

(In thousands)		March 31, 2023				December 31, 2022
	Fair Value Hierarchy	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial Assets:
Cash and noninterest bearing balances due from banks	Level 1	$	1,828	$	1,828	$	5,182	$	5,182
Interest-bearing deposits due from banks	Level 1	58,424		58,424		33,311		33,311
Available-for-sale securities	Level 2	81,531		81,531		75,093		75,093
Available-for-sale securities	Level 3	10,205		10,205		9,427		9,427
Other investments	Level 2	4,450		4,450		4,450		4,450
Federal Reserve Bank stock	Level 2	2,673		2,673		2,627		2,627
Federal Home Loan Bank stock	Level 2	6,374		6,374		3,874		3,874
Loans receivable, net	Level 3	860,968		846,185		838,006		818,960
Loans held for sale	Level 2	6,882		7,471		5,211		5,534
SBA servicing assets	Level 3	893		987		886		1,013
Accrued interest receivable	Level 2	7,308		7,308		7,267		7,267
Interest rate swap receivable	Level 2	106		106		203		203
Financial assets, total		$	1,041,642	$	1,027,542	$	985,537	$	966,941
Financial Liabilities:
Demand deposits	Level 2	$	152,773	$	152,773	$	269,636	$	269,636
Savings deposits	Level 2	56,418		56,418		71,002		71,002
Money market deposits	Level 2	306,474		306,474		211,000		211,000
Negotiable order of withdrawal accounts	Level 2	29,316		29,316		34,440		34,440
Time deposits	Level 2	206,398		203,531		225,670		221,353
Brokered deposits	Level 1	105,089		104,362		48,698		47,684
FHLB borrowings	Level 2	150,000		149,075		85,000		83,853
Senior notes	Level 2	11,619		11,162		11,640		11,103
Subordinated debt	Level 2	9,847		9,758		9,840		9,680
Junior subordinated debt owed to unconsolidated trust	Level 2	8,130		8,130		8,128		8,128
Note payable	Level 3	533		504		585		544
Accrued interest payable	Level 2	771		771		585		585
Interest rate swap liability	Level 2	106		106		203		203
Financial liabilities, total		$	1,037,474	$	1,032,380	$	976,427	$	969,211

Fair Value, Assets Measured on Recurring Basis

(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
March 31, 2023:
U. S. Government agency and mortgage-backed securities	$	—	$	67,537	$	—	$	67,537
Corporate bonds	—		3,457		10,205		13,662
Subordinated notes	—		4,521		—		4,521
SBA loan pools	—		5,505		—		5,505
Municipal bonds	—		511		—		511
Available-for-sale securities	$	—	$	81,531	$	10,205	$	91,736
Interest rate swap receivable	$	—	$	106	$	—	$	106
Interest rate swap liability	$	—	$	106	$	—	$	106
December 31, 2022:
U. S. Government agency and mortgage-backed securities	$	—	$	59,046	$	—	$	59,046
Corporate bonds	—		5,228		9,427		14,655
Subordinated notes	—		4,602		—		4,602
SBA loan pools	—		5,718		—		5,718
Municipal bonds	—		499		—		499
Available-for-sale securities	$	—	$	75,093	$	9,427	$	84,520
Interest rate swap receivable	$	—	$	203	$	—	$	203
Interest rate swap liability	$	—	$	203	$	—	$	203

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

(In thousands)	Three Months Ended March 31, 2023		Three Months Ended March 31, 2022
Level 3 fair value, beginning of year	$	9,427	$	13,180
Purchases	—		—
Realized gain (loss)	—		—
Unrealized gain (loss)	778		(1,943)
Transfers in and /or out of Level 3	—		—
Level 3 fair value, end of year	$	10,205	$	11,237

Fair Value Measurement Inputs and Valuation Techniques

(In thousands)	Fair Value		Valuation Methodology	Unobservable Inputs	Range of Inputs
March 31, 2023:
Impaired loans, net	$	17,112	Real Estate Appraisals	Discount for appraisal type	5.8	%	-	20%
SBA servicing assets	987		Discounted Cash Flows	Market discount rates	14.73	%	-	14.90%
December 31, 2022:
Impaired loans, net	$	12,873	Real Estate Appraisals	Discount for appraisal type	5.8	%	-	20%
SBA servicing assets	1,013		Discounted Cash Flows	Market discount rates	14.73	%	-	14.90%