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Fair Value (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Collateral Dependent Loans Remeasured and Reported at Fair Value

The table below presents certain collateral dependent loans that were remeasured and reported at fair value through the ACL based upon the fair value of the underlying collateral as of the dates indicated:

 

(Dollars in thousands)

 

March 31, 2025

 

 

December 31, 2024

 

Carrying value of collateral dependent loans before allowance

 

$

6,889

 

 

$

4,877

 

Specific allowance

 

 

(1,558

)

 

 

(1,028

)

   Fair value of collateral dependent loans

 

$

5,331

 

 

$

3,849

 

 
Schedule of the Carrying Amounts and Estimated Fair Values of Financial Instrument

The carrying amounts and estimated fair values of financial instrument as of March 31, 2025 and December 31, 2024, were as follows:

 

 

 

Carrying

 

 

Fair

 

 

 

 

 

 

 

 

 

 

 

 

Amount

 

 

Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

7,359

 

 

$

7,359

 

 

$

7,359

 

 

$

—

 

 

$

—

 

Interest-bearing cash equivalents

 

$

91,216

 

 

$

91,216

 

 

$

91,216

 

 

$

—

 

 

$

—

 

Securities available for sale

 

$

250,998

 

 

$

250,998

 

 

$

—

 

 

$

250,998

 

 

$

—

 

Loans held for sale

 

$

20,860

 

 

$

20,860

 

 

$

—

 

 

$

20,860

 

 

$

—

 

Loans held for investment, net

 

$

764,390

 

 

$

755,698

 

 

$

—

 

 

$

—

 

 

$

755,698

 

Derivative assets

 

$

540

 

 

$

540

 

 

$

—

 

 

$

540

 

 

$

—

 

Mortgage servicing rights

 

$

1,012

 

 

$

1,944

 

 

$

—

 

 

$

1,944

 

 

$

—

 

Accrued interest receivable

 

$

5,563

 

 

$

5,563

 

 

$

—

 

 

$

—

 

 

$

5,563

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

823,445

 

 

$

743,223

 

 

$

—

 

 

$

743,223

 

 

$

—

 

Advances by borrowers for taxes and insurance

 

$

5,664

 

 

$

5,664

 

 

$

5,664

 

 

$

—

 

 

$

—

 

Other borrowings

 

$

61,500

 

 

$

61,417

 

 

$

—

 

 

$

61,417

 

 

$

—

 

Accrued interest payable

 

$

359

 

 

$

359

 

 

$

—

 

 

$

—

 

 

$

359

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

6,841

 

 

$

6,841

 

 

$

6,841

 

 

$

—

 

 

$

—

 

Interest-bearing cash equivalents

 

$

92,004

 

 

$

92,004

 

 

$

92,004

 

 

$

—

 

 

$

—

 

Securities available for sale

 

$

244,119

 

 

$

244,119

 

 

$

—

 

 

$

244,119

 

 

$

—

 

Loans held for sale

 

$

26,026

 

 

$

26,026

 

 

$

—

 

 

$

26,026

 

 

$

—

 

Loans held for investment, net

 

$

750,653

 

 

$

737,551

 

 

$

—

 

 

$

—

 

 

$

737,551

 

Derivative assets

 

$

439

 

 

$

439

 

 

$

—

 

 

$

439

 

 

$

—

 

Mortgage servicing rights

 

$

1,078

 

 

$

1,945

 

 

$

—

 

 

$

1,945

 

 

$

—

 

Accrued interest receivable

 

$

5,729

 

 

$

5,729

 

 

$

—

 

 

$

—

 

 

$

5,729

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

800,742

 

 

$

711,225

 

 

$

—

 

 

$

711,225

 

 

$

—

 

Advances by borrowers for taxes and insurance

 

$

6,537

 

 

$

6,537

 

 

$

6,537

 

 

$

—

 

 

$

—

 

Other borrowings

 

$

73,500

 

 

$

73,372

 

 

$

—

 

 

$

73,372

 

 

$

—

 

Accrued interest payable

 

$

380

 

 

$

380

 

 

$

—

 

 

$

—

 

 

$

380