Fair value (Tables)

9 Months Ended

Sep. 30, 2022

Fair value

Schedule of recurring and Non recurring basis

Assets and liabilities measured at fair value under Topic 820 on a recurring and non-recurring basis are summarized below for the indicated dates (in thousands):

	Fair Value Measurement
	at September 30, 2022 Using
			Quoted Prices
			in Active		Other		Significant
			Markets for		Observable		Unobservable
	Carrying		Identical Assets		Inputs		Inputs
	Value		(Level 1)		(Level 2)		(Level 3)
Financial Assets - Recurring
US Government Agencies	$	60,577	$	—	$	60,577	$	—
Mortgage-backed securities		62,006		—		62,006		—
Municipals		1,545		—		1,545		—
Subordinated debt		10,375		—		8,875		1,500
Loans held for sale		5,076		—		5,076		—
IRLC		111		—		111		—
Financial Liabilities - Recurring
Forward sales commitment		113		—		113		—

	Fair Value Measurement
	at December 31, 2021 Using
			Quoted Prices
			in Active		Other		Significant
			Markets for		Observable		Unobservable
	Carrying		Identical Assets		Inputs		Inputs
	Value		(Level 1)		(Level 2)		(Level 3)
Financial Assets - Recurring
US Government Agencies	$	40,999	$	—	$	40,999	$	—
Mortgage-backed securities		40,495		—		40,495		—
Municipals		2,209				2,209
Subordinated debt		10,996		—		9,246		1,750
Loans held for sale		5,141		—		5,141		—
IRLC		471		—		471		—
Financial Liabilities - Recurring
Forward sales commitment		651		—		651		—

Schedule of company's financial instruments whether or not recognized

		September 30,				December 31,
		2022				2021
	Level in Fair
	Value	Carrying		Estimated		Carrying		Estimated
	Hierarchy	Value		Fair Value		Value		Fair Value
Financial assets
Cash	Level 1	$	20,393	$	20,393	$	12,071	$	12,071
Cash equivalents	Level 2		11,788		11,788		80,545		80,545
Investment securities available for sale	Level 2		133,003		133,003		92,949		92,949
Investment securities available for sale	Level 3		1,500		1,500		1,750		1,750
Federal Home Loan Bank stock	Level 2		373		373		353		353
Loans held for sale	Level 2		5,076		5,076		5,141		5,141
Loans	Level 3		540,683		518,727		526,457		526,668
Bank owned life insurance	Level 2		12,718		12,718		12,494		12,494
Accrued interest receivable	Level 2		3,341		3,341		3,245		3,245
Interest rate lock commitments	Level 2		111		111		471		471
Financial liabilities
Deposits	Level 2		667,819		667,512		664,048		663,898
Trust preferred securities	Level 2		8,764		7,990		8,764		9,554
Other borrowings	Level 2		5,684		5,684		5,660		5,660
Accrued interest payable	Level 2		58		58		68		68
Forward sales commitment	Level 2		113		113		651		651