Fair value (Tables)

9 Months Ended

Sep. 30, 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 September 30, 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	$	644	$	—	$	644	$	—
Mortgage-backed securities		70,693		—		70,693		—
Municipals		1,760		—		1,760		—
Subordinated debt		10,865		—		10,365		500
Loans held for sale		2,442		—		2,442		—
IRLC		302		—		302		—
Forward sales commitment		6		—		6		—

	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

		September 30,				December 31,
		2024				2023
	Level in Fair
	Value	Carrying		Estimated		Carrying		Estimated
	Hierarchy	Value		Fair Value		Value		Fair Value
Financial assets
Cash	Level 1	$	13,241	$	13,241	$	10,383	$	10,383
Federal funds sold	Level 2		12,163		12,163		7,331		7,331
Investment securities available for sale	Level 2		83,462		83,462		105,085		105,085
Investment securities available for sale	Level 3		500		500		500		500
Restricted stock	Level 2		1,802		1,802		2,985		2,985
Loans held for sale	Level 2		2,442		2,442		4,983		4,983
Loans	Level 3		614,772		596,381		575,008		547,935
Bank owned life insurance	Level 2		13,387		13,387		13,120		13,120
Accrued interest receivable	Level 2		3,593		3,593		3,827		3,827
Interest rate lock commitments	Level 2		302		302		271		271
Forward sales commitment	Level 2		6		6		—		—
Financial liabilities
Deposits	Level 2		646,200		646,152		605,345		605,226
FHLB borrowings	Level 2		20,000		20,008		45,000		44,999
Trust preferred securities	Level 2		8,764		9,121		8,764		8,848
Other borrowings	Level 2		5,700		5,700		5,700		5,700
Accrued interest payable	Level 2		364		364		210		210
Forward sales commitment	Level 2		—		—		506		506