FAIR VALUES (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of summary of assets and liabilities measured at fair value

September 30, 2022 (Dollars are in thousands)	Quoted market price in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
(On a recurring basis) Available for sale investments
U.S. Treasuries	$	—	$	11,646	$	—
U.S. Government Agencies		—		9,760		—
Taxable municipals		—		17,778		—
Corporate bonds		—		3,175		—
Mortgage-backed securities		—		56,486		—
(On a non-recurring basis) Other real estate owned		—		—		321
Impaired loans		—		—		2,818
Total	$	—	$	98,845	$	3,139

Assets and liabilities measured at fair value are as follows as of December 31, 2021 (for purpose of this table the impaired loans are shown net of the related allowance):

December 31, 2021 (Dollars are in thousands)	Quoted market price in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
(On a recurring basis) Available for sale investments
U.S. Treasuries	$	7,671		—		-
U.S. Government Agencies		—		9,089	$	—
Taxable municipals		—		22,980		—
Corporate bonds		—		2,019		—
Mortgage-backed securities		—		65,599		—
						—
(On a non-recurring basis) Other real estate owned		—		—		1,361
Impaired loans		—		—		2,667
Total	$	—	$	107,358	$	4,028

Schedule of significant unobservable inputs In level 3 assets

(Dollars in thousands)		Fair Value at September 30, 2022		Fair Value at December 31, 2021	Valuation Technique	Significant Unobservable Inputs	General Range of Significant Unobservable Input Values
Impaired Loans	$	2,818	$	2,667	Appraised Value	Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell	0 – 18%
Other Real Estate Owned	$	321	$	1,361	Appraised Value/Comparable Sales/Other Estimates from Independent Sources	Discounts to reflect current market conditions and estimated costs to sell	0 – 18%

Schedule of estimated fair value of financial instruments

					Fair Value Measurements
(Dollars are in thousands)	Carrying Amount		Fair Value		Quoted market price in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
September 30, 2022
Financial Instruments – Assets
Net Loans	$	573,281	$	554,800	$	—	$	—	$	554,800
Financial Instruments – Liabilities
Time Deposits		179,709		178,702		—		178,702		—
Borrowed funds		41,496		40,266		—		40,266		—
December 31, 2021
Financial Instruments – Assets
Net Loans	$	587,009	$	580,024	$	—	$	—	$	580,024
Financial Instruments – Liabilities
Time Deposits		196,285		198,353		—		198,353		—
Borrowed funds		16,496		15,649		—		15,649		—