Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2024

Investments, All Other Investments [Abstract]

Fair Value of Financial Instruments

(7) Fair Value of Financial Instruments. The estimated fair values and fair value measurement method with respect to the Company’s financial instruments were as follows (in thousands):

	At September 30, 2024						At December 31, 2023
	Carrying Amount		Fair Value		Level		Carrying Amount		Fair Value		Level
Financial assets:
Cash and cash equivalents	$	131,599	$	131,599		1	$	76,663	$	76,663		1
Debt securities available for sale		24,495		24,495		2		24,355		24,355		2
Debt securities held-to-maturity		300		275		2		360		326		2
Loans		768,914		753,026		3		671,094		652,965		3
Federal Home Loan Bank stock		2,454		2,454		3		3,354		3,354		3
Accrued interest receivable		3,147		3,147		3		2,474		2,474		3
Financial liabilities:
Deposit liabilities		806,506		806,919		3		639,581		645,426		3
Federal Home Loan Bank advances		40,000		39,755		3		62,000		61,565		3
Federal Reserve Bank advances		—		—		3		13,600		13,592		3