Fair Value Information (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities measured at Fair Value

The following table presents information about assets and liabilities measured at fair value on a recurring and non-recurring basis and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair values (dollars in thousands):

December 31, 2023	Quoted Prices in Active Markets for Identical Assets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Fair Value
Recurring:
Assets:
Securities available-for-sale:
Mortgage-backed securities	$	—	$	32,467	$	—	$	32,467
U.S. Treasuries		—		2,792		—		2,792
U.S. Government Agencies		—		270		—		270
Municipal obligations		—		20,328		—		20,328
Corporate debt		—		833		—		833
Total available-for-sale:	$	—	$	56,690	$	—	$	56,690
Nonrecurring basis:
Collateral dependent loans	$	—	$	—	$	1,071	$	1,071
Other Real Estate Owned	$	—	$	—	$	3,000	$	3,000

December 31, 2022	Quoted Prices in Active Markets for Identical Assets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Fair Value
Recurring:
Assets:
Securities available-for-sale:
Mortgage-backed securities	$	—	$	34,532	$	—	$	34,532
U.S. Treasuries		—		2,717		—		2,717
U.S. Government Agencies		—		370		—		370
Municipal obligations		—		20,151		—		20,151
Corporate debt		—		812		—		812
Total available-for-sale:	$	—	$	58,582	$	—	$	58,582
Nonrecurring basis:
Impaired loans	$	—	$	—	$	3,951	$	3,951

Fair Value Measurement Inputs and Valuation Techniques

The following table presents the significant unobservable inputs used in the fair value measurements for Level 3 financial assets measured on a non-recurring basis (dollars in thousands):

Collateral Dependent Loans December 31, 2023	Fair Value		Valuation Methodologies		Valuation Model		Unobservable Input Valuation
Commercial		1,071		Appraisal		Receivables Discount/Liquidation Discount		0–50%
Total collateral dependent loans	$	1,071
Other Assets
Other Real Estate Owned	$	3,000		Appraisal		Appraisal Discount/Estimated Selling Costs		23	%
Collateral Dependent Loans December 31, 2022	Fair Value		Valuation Methodologies		Valuation Model		Unobservable Input Valuation
Commercial		1,641		Appraisal		Receivables Discount/Liquidation Discount		0–18%
NOO CRE		1,591		Appraisal		Appraisal Discount/Estimated Selling Costs		18–50%
1–4 family residential RE		719		Appraisal		Appraisal Discount/Estimated Selling Costs		0–18%
Total collateral dependent loans	$	3,951

Schedule of Fair Value of Financial Instruments

The estimated fair values of the Company’s consolidated financial instruments at year-end are as follows (dollars in thousands):

			December 31,
			2023						2022
Financial assets	Fair Value Hierarchy		Carrying Amount			Fair Value			Carrying Amount			Fair Value
Cash and due from banks		Level 1	$	27,182		$	27,182		$	16,112		$	16,112
Federal funds sold		Level 2		1,715			1,715			835			835
Securities available-for-sale		Level 2		56,690			56,690			58,582			58,582
Securities held-to-maturity		Level 2		5,684			5,107			5,832			5,432
Loans held for investment		Level 3		457,027			437,878			463,360			419,251
Other Real Estate Owned		Level 3		3,000			3,000
Other investments		Level 2		4,063			4,063			1,277			1,277
Accrued interest receivable		Level 1		1,597			1,597			1,505			1,505
Financial liabilities
Nonmaturity Deposits		Level 1	$	(331,596	)	$	(331,596	)	$	(414,094	)	$	(414,094	)
Time deposits		Level 2		(128,403	)		(128,108	)		(73,493	)		(71,932	)
FRB and FHLB advances		Level 2		(29,000	)		(29,000	)		(5,000	)		(5,292	)
Subordinated debentures		Level 3		(24,595	)		(20,421	)		(24,531	)		(21,728	)
Accrued interest payable		Level 1		(521	)		(521	)		(562	)		(562	)