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Fair Value (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of assets carried at fair value on a recurring basis

The following tables detail the assets that are carried at fair value on a recurring basis as of the periods shown and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value:


					Quoted Prices in
					Active Markets			Significant			Significant
					for Identical			Observable			Unobservable
		Balance			Assets (Level 1)			Inputs (Level 2)			Inputs (Level 3)

		March 31, 2026
Assets:
U.S. Treasury securities		$	35,637		$	35,637		$	—		$	—
U.S. government agency mortgage-backed securities-residential			84,774			—			84,774			—
U.S. government agency securities			18,381			—			18,381			—
Municipal securities			2,074			—			1,989			85
Corporate bonds			14,922			—			14,922			—
Other			372			—			372			—
Total available for sale securities			156,160			35,637			120,438			85
Loan level interest rate swaps			6,244			—			6,244			—
Total assets		$	162,404		$	35,637		$	126,682		$	85
Liabilities:
Loan level interest rate swaps		$	6,244		$	—		$	6,244		$	—
Total liabilities		$	6,244		$	—		$	6,244		$	—


		December 31, 2025
Assets:
U.S. Treasury securities		$	35,828		$	35,828		$	—		$	—
U.S. government agency mortgage-backed securities – residential			88,980			—			88,980			—
U.S. government agency securities			18,352			—			18,352			—
Municipal securities			2,082			—			1,997			85
Corporate bonds			16,589			—			16,589			—
Other			372			—			372			—
Total available for sale securities			162,203			35,828			126,290			85
Loan level interest rate swaps			7,204			—			7,204			—
Total assets		$	169,407		$	35,828		$	133,494		$	85
Liabilities:
Loan level interest rate swaps		$	7,204		$	—		$	7,204		$	—
Total liabilities		$	7,204		$	—		$	7,204		$	—

Schedule of assets carried at fair value and measured at fair value on a nonrecurring basis

The following tables detail the assets carried at fair value and measured at fair value on a nonrecurring basis as of March 31, 2026 and December 31, 2025, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine the fair value:


					Quoted Prices in
					Active Markets			Significant			Significant
					for Identical			Observable			Unobservable
		Balance			Assets (Level 1)			Inputs (Level 2)			Inputs (Level 3)

		March 31, 2026
Individually analyzed loans, with specific reserves		$	270		$	—		$	—		$	270
Total		$	270		$	—		$	—		$	270


		December 31, 2025
Individually analyzed loans, with specific reserves		$	405		$	—		$	—		$	405
Total		$	405		$	—		$	—		$	405

Schedule of additional quantitative information about assets measured at fair value on a nonrecurring basis

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value:


		Quantitative Information About Level 3 Fair Value Measurements
		Fair Value			Valuation		Unobservable		Range
		Estimate			Techniques		Input		(Weighted Average)

		March 31, 2026
Individually analyzed loans, with specific reserves		$	270		Appraisal of collateral	⁽¹⁾	Liquidation expenses	⁽³⁾	0% to 8%
							Appraisal adjustments	⁽²⁾	0% to 20%

		December 31, 2025
Individually analyzed loans, with specific reserves		$	405		Appraisal of collateral	⁽¹⁾	Liquidation expenses	⁽³⁾	0% to 8%
							Appraisal adjustments	⁽²⁾	0% to 20%

(1)	Fair value is generally through independent appraisals of the underlying collateral that generally include various level 3 inputs which are not identifiable.

(2)	Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percentage of the appraised value.

(3)	Estimated costs to sell.

Schedule of carrying value and fair values of the financial instruments

As of the following dates, the carrying value and fair values of the Company’s financial instruments were:


					Fair Value Measurements at
					March 31, 2026 Using
		Carrying Value			Level 1			Level 2			Level 3			Total
Financial Assets:
Cash and cash equivalents		$	112,904		$	112,904		$	—		$	—		$	112,904
Available for sale securities			156,160			35,637			120,438			85			156,160
Loan level interest rate swaps			6,244			—			6,244			—			6,244
FHLB stock			1,057			—			1,057			—			1,057
Loans, net			936,751			—			—			935,426			935,426
Accrued interest receivable			4,708			—			4,708			—			4,708
Mortgage servicing rights			1,179			—			—			3,709			3,709
Financial Liabilities:
Deposits		$	1,103,492		$	—		$	1,052,000		$	—		$	1,052,000
Mortgagors' escrow accounts			7,890			—			7,980			—			7,980
FHLB advances			5,153			—			4,906			—			4,906
Subordinated debt			5,155			—			5,155			—			5,155
Loan level interest rate swaps			6,244			—			6,244			—			6,244
Accrued interest payable			811			—			811			—			811


					Fair Value Measurements at
					December 31, 2025 Using
		Carrying Value			Level 1			Level 2			Level 3			Total
Financial Assets:
Cash and cash equivalents		$	101,986		$	101,986		$	—		$	—		$	101,986
Available for sale securities			162,203			35,828			126,290			85			162,203
Loan level interest rate swaps			7,204			—			7,204			—			7,204
FHLB stock			1,957			—			1,957			—			1,957
Loans, net			953,385			—			—			944,816			944,816
Accrued interest receivable			4,882			—			4,882			—			4,882
Mortgage servicing rights			1,262			—			—			3,926			3,926
Financial Liabilities:
Deposits		$	1,097,340		$	—		$	1,053,275		$	—		$	1,053,275
Mortgagors' escrow accounts			9,399			—			9,399			—			9,399
FHLB advances			25,153			—			26,982			—			26,982
Subordinated debt			5,155			—			5,155			—			5,155
Loan level interest rate swaps			7,204			—			7,204			—			7,204
Accrued interest payable			918			—			918			—			918