Fair Value Information (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024	Quoted Prices in Active Markets for Identical Assets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Fair Value
Recurring:
Securities available-for-sale:
Mortgage-backed securities	$	—	$	44,859	$	—	$	44,859
U.S. Treasuries		—		2,838		—		2,838
U.S. Government Agencies		—		196		—		196
Asset-backed securities		—		10,476		—		10,476
Municipal obligations		—		19,133		—		19,133
Corporate debt		—		889		—		889
Total available-for-sale:	$	—	$	78,661	$	—	$	78,661
Interest Rate Derivative Contracts – Assets	$	—	$	356	$	—	$	356
Interest Rate Derivative Contracts – Liabilities	$	—	$	—	$	—	$	—
Nonrecurring basis:
Collateral Dependent Loans	$	—	$	—	$	1,805	$	1,805

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

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):

December 31, 2024	Fair Value		Valuation Methodologies	Valuation Model	Unobservable Input Valuation
Collateral Dependent Loans Commercial		1,805	Appraisal/Borrower Financial Statements	Receivables Discount/Liquidation Discount	0–25	%
Total collateral dependent loans	$	1,805
December 31, 2023	Fair Value		Valuation Methodologies	Valuation Model	Unobservable Input Valuation
Collateral Dependent Loans Commercial		1,071	Appraisal/Borrower Financial Statements	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	%

Schedule of Fair Value of Financial Instruments

The estimated fair values of the Company’s consolidated financial instruments on the dates noted are as follows (dollars in thousands): 

		December 31,						December 31,
		2024						2023
	Fair Value Hierarchy	Carrying Amount			Fair Value			Carrying Amount			Fair Value
Financial assets
Cash and due from banks	Level 1	$	111,510		$	111,510		$	27,182		$	27,182
Federal funds sold	Level 2		2,085			2,085			1,715			1,715
Securities available-for-sale	Level 2		78,661			78,661			56,690			56,690
Securities held-to-maturity	Level 2		5,665			5,299			5,684			5,107
Loans held for investment	Level 3		665,932			655,177			451,167			437,878
Other investments	Level 2		6,244			6,244			4,063			4,063
Accrued interest receivable	Level 1		2,613			2,613			1,597			1,597
Derivative	Level 3		356			356			—			—
Financial liabilities
Nonmaturity Deposits	Level 1	$	(551,512	)	$	(551,512	)	$	(331,596	)	$	(331,596	)
Time deposits	Level 2		(241,055	)		(241,188	)		(128,403	)		(128,108	)
FRB and FHLB advances	Level 2		—			—			(29,000	)		(29,000	)
Subordinate debt	Level 3		(23,149	)		(20,183	)		(24,595	)		(20,421	)
Subordinated debentures, trust preferred securities	Level 3		(4,203	)		(4,203	)		—			—
Accrued interest payable	Level 1		(1,574	)		(1,574	)		(521	)		(521	)