Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Measurement [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 and 2023.

December 31, 2024	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
U.S. Treasury securities	$	105,545	$	105,545	$	—	$	—
Securities of U.S. government agencies and corporations		95,684		—		95,684		—
Obligations of states and political subdivisions		67,591		—		67,591		—
Collateralized mortgage obligations		94,945		—		94,945		—
Mortgage-backed securities		270,088		—		270,088		—
Total investments at fair value	$	633,853	$	105,545	$	528,308	$	—

December 31, 2023	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
U.S. Treasury securities	$	87,182	$	87,182	$	—	$	—
Securities of U.S. government agencies and corporations		115,079		—		115,079		—
Obligations of states and political subdivisions		51,677		—		51,677		—
Collateralized mortgage obligations		90,947		—		90,947		—
Mortgage-backed securities		227,472		—		227,472		—
Total investments at fair value	$	572,357	$	87,182	$	485,175	$	—

Assets Measured at Fair Value on a Nonrecurring Basis

Assets measured at fair value on a non-recurring basis are included in the table below by level within the fair value hierarchy as of December 31, 2024.

	(in thousands)
December 31, 2024	Carrying Value			Level 1			Level 2			Level 3
Individually evaluated loans		$	139		$	—		$	—		$	139
Total assets at fair value		$	139		$	—		$	—		$	139

Key Methods and Assumptions Used in Measuring Fair Value

Key methods and assumptions used in measuring the fair value of collateral dependent loans as of December 31, 2024 were as follows:

	Method	Assumption Inputs
Individually evaluated loans	Collateral, market, income, enterprise, liquidation	External appraised values, management assumptions regarding market trends or other relevant factors, selling costs generally ranging from 6% to 10%

Estimated Fair Value of Financial Instruments

The following table summarizes fair value estimates for financial instruments for the years ended December 31, 2024 and 2023, excluding financial instruments recorded at fair value on a recurring basis (summarized in the first table in this note).

			2024				2023
	Level		Carrying amount		Fair value		Carrying amount		Fair value
Financial assets:
Cash and cash equivalents		1	$	119,448	$	119,448	$	149,211	$	149,211
Certificates of deposit		2		16,074		16,129		19,710		19,570
Stock in Federal Home Loan Bank and other equity securities, at cost		3		10,518		10,518		10,518		10,518
Loans receivable:
Net loans		3		1,046,852		974,746		1,052,465		958,077
Interest receivable		2		7,660		7,660		6,810		6,810
Mortgage servicing rights		3		1,312		1,910		1,482		2,094
Financial liabilities:
Time deposits		3		149,970		149,752		135,696		135,540
Interest payable		2		1,215		1,215		1,567		1,567