Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Available for Sale Securities Measured at Fair Value on a Recurring Basis

The following tables present the balances measured at fair value on a recurring basis:

			Fair Value Measurements at December 31, 2023 Using:
(Dollars in thousands)			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	Balance		(Level 1)		(Level 2)		(Level 3)
Assets:
U.S. Treasury securities	$	121,708	$	-	$	121,708	$	-
U.S. Government agencies		39,581		-		39,581		-
Mortgage-backed securities/CMOs		155,144		-		155,144		-
Corporate bonds		19,129		-		19,129		-
Municipal bonds		85,033		-		85,033		-
Total securities available for sale	$	420,595	$	-	$	420,595	$	-
Interest rate swaps		-		-		-		-
Total assets at fair value	$	420,595	$	-	$	420,595	$	-

			Fair Value Measurements at December 31, 2022 Using:
(Dollars in thousands)			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Balance		(Level 1)		(Level 2)		(Level 3)
Assets:
U.S. Treasury securities	$	242,470	$	-	$	242,470	$	-
U.S. Government agencies		28,755		-		28,755		-
Mortgage-backed securities/CMOs		167,076		-		167,076		-
Corporate bonds		18,729		-		18,729		-
Municipal bonds		81,156		-		81,156		-
Total securities available for sale	$	538,186	$	-	$	538,186	$	-
Interest rate swaps		506		-		506		-
Total assets at fair value	$	538,692	$	-	$	538,692	$	-

Summary of Assets Measured at Fair Value on a Nonrecurring Basis

The following table presents the Company's assets that were measured at fair value on a nonrecurring basis as of December 31, 2023. There were no such assets to report as of December 31, 2022.

			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	Balance		(Level 1)		(Level 2)		(Level 3)
Assets:
Individually evaluated loans	$	461	$	-	$	-	$	461
Description	Fair Value		Valuation Technique		Unobservable Inputs		Discount Rate
Assets:
Individually evaluated loans	$	461	Market comparables		Discount applied to recent appraisal			20.0	%

Schedule of the Carrying Values and Estimated Fair Values of the Bank's Financial Instruments

The carrying values and estimated fair values of the Company’s financial instruments are as follows:

			Fair Value Measurements at December 31, 2023 Using:
(Dollars in thousands)			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Carrying value		Level 1		Level 2		Level 3		Fair Value
Assets
Cash and cash equivalent	$	28,390	$	28,390	$	-	$	-	$	28,390
Available for sale securities		420,595		-		420,595		-		420,595
Restricted securities		8,385		-		8,385		-		8,385
Loans, net		1,084,270		-		-		1,029,359		1,029,359
Assets held for sale		-		-		-		-		-
Bank owned life insurance		38,904		-		38,904		-		38,904
Accrued interest receivable		6,179		-		1,916		4,263		6,179
Liabilities
Demand deposits and interest bearing transaction and money market accounts	$	1,090,517	$	-	$	1,090,517	$	-	$	1,090,517
Certificates of deposit		318,581		-		318,768		-		318,768
Federal funds purchased		3,462		3,462		-		-		3,462
Borrowings		66,500		-		66,360		-		66,360
Junior subordinated debt		3,459		-		3,459		-		3,459
Accrued interest payable		2,143		-		2,143		-		2,143

			Fair Value Measurements at December 31, 2022 Using:
(Dollars in thousands)			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Carrying value		Level 1		Level 2		Level 3		Fair Value
Assets
Cash and cash equivalent	$	40,136	$	40,136	$	-	$	-	$	40,136
Available for sale securities		538,186		-		538,186		-		538,186
Restricted securities		5,137		-		5,137		-		5,137
Loans, net		930,863		-		-		890,929		890,929
Assets held for sale		965		-		965		-		965
Bank owned life insurance		38,552		-		38,552		-		38,552
Accrued interest receivable		4,879		-		2,265		2,614		4,879
Interest rate swap		506		-		506		-		506
Liabilities
Demand deposits and interest bearing transaction and money market accounts	$	1,363,232	$	-	$	1,363,232	$	-	$	1,363,232
Certificates of deposit		115,106		-		114,911		-		114,911
Junior subordinated debt		3,413		-		3,413		-		3,413
Accrued interest payable		157		-		157		-		157