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Fair Value (Tables)

6 Months Ended

Jun. 30, 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)

		June 30, 2026
Assets:
U.S. Treasury securities		$	54,046		$	54,046		$	—		$	—
U.S. government agency mortgage-backed securities-residential			82,878			—			82,878			—
U.S. government agency securities			16,413			—			16,413			—
Municipal securities			2,081			—			1,996			85
Corporate bonds			15,780			—			15,780			—
Other			170			—			170			—
Total available for sale securities			171,368			54,046			117,237			85
Loan level interest rate swaps			5,523			—			5,523			—
Total assets		$	176,891		$	54,046		$	122,760		$	85
Liabilities:
Loan level interest rate swaps		$	5,523		$	—		$	5,523		$	—
Total liabilities		$	5,523		$	—		$	5,523		$	—


		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 June 30, 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)

		June 30, 2026
Individually analyzed loans, with specific reserves		$	256		$	—		$	—		$	256
Total		$	256		$	—		$	—		$	256


		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)

		June 30, 2026
Individually analyzed loans, with specific reserves		$	256		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
					June 30, 2026 Using
		Carrying Value			Level 1			Level 2			Level 3			Total
Financial Assets:
Cash and cash equivalents		$	304,563		$	304,563		$	—		$	—		$	304,563
Available for sale securities			171,368			54,046			117,237			85			171,368
Loan level interest rate swaps			5,523			—			5,523			—			5,523
FHLB stock			1,153			—			1,153			—			1,153
Loans, net			918,477			—			—			913,956			913,956
Accrued interest receivable			4,592			—			4,592			—			4,592
Mortgage servicing rights			1,094			—			—			3,982			3,982
Financial Liabilities:
Deposits		$	1,282,972		$	—		$	1,212,523		$	—		$	1,212,523
Mortgagors' escrow accounts			13,206			—			13,206			—			13,206
FHLB advances			5,153			—			4,922			—			4,922
Subordinated debt			5,155			—			5,155			—			5,155
Loan level interest rate swaps			5,523			—			5,523			—			5,523
Accrued interest payable			722			—			722			—			722


					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