Fair value (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31, 2024 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
U.S. Government Agencies	$	678	$	—	$	678	$	—
Mortgage-backed securities		69,907		—		69,907		—
Municipals		1,652		—		1,652		—
Subordinated debt		10,547		—		10,047		500
Loans held for sale		7,019		—		7,019		—
IRLC		293		—		293		—
Financial Liabilities - Recurring
Forward sales commitment		42		—		42		—

	Fair Value Measurement
	at December 31, 2023 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
U.S. Government Agencies	$	20,615	$	—	$	20,615	$	—
Mortgage-backed securities		72,537		—		72,537		—
Municipals		1,656		—		1,656		—
Subordinated debt		10,777		—		10,277		500
Loans held for sale		4,983		—		4,983		—
IRLC		271		—		271		—
Financial Liabilities - Recurring
Forward sales commitment		506		—		506		—

Schedule of company's financial instruments whether or not recognized

		March 31,				December 31,
		2024				2023
	Level in Fair
	Value	Carrying		Estimated		Carrying		Estimated
	Hierarchy	Value		Fair Value		Value		Fair Value
Financial assets
Cash	Level 1	$	13,073	$	13,073	$	10,383	$	10,383
Cash equivalents	Level 2		19,323		19,323		7,331		7,331
Investment securities available for sale	Level 2		82,284		82,284		105,085		105,085
Investment securities available for sale	Level 3		500		500		500		500
Federal Home Loan Bank stock	Level 2		2,644		2,644		2,644		2,644
Loans held for sale	Level 2		7,019		7,019		4,983		4,983
Loans	Level 3		591,338		567,741		575,008		547,935
Bank owned life insurance	Level 2		13,198		13,198		13,120		13,120
Accrued interest receivable	Level 2		3,531		3,531		3,827		3,827
Interest rate lock commitments	Level 2		293		293		271		271
Financial liabilities
Deposits	Level 2		620,269		620,673		605,345		605,226
FHLB borrowings	Level 2		40,000		39,886		45,000		44,999
Trust preferred securities	Level 2		8,764		8,969		8,764		8,848
Other borrowings	Level 2		5,700		5,700		5,700		5,700
Accrued interest payable	Level 2		406		406		210		210
Forward sales commitment	Level 2		42		42		506		506