Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis at December 31, 2024 and 2023, segregated by fair value hierarchy level, are summarized below:


	Fair Value Measurement
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2024:	(Dollars in thousands)
Investment securities available-for-sale
Debt securities:
U.S. Government-sponsored enterprises	$	26,215	$	2,702	$	23,513	$	—
Agency MBS	173,275		—		173,275		—
State and political subdivisions	48,550		—		48,550		—
Corporate	2,464		—		2,464		—
Total debt securities	$	250,504	$	2,702	$	247,802	$	—


Other investments:
Mutual funds	$	1,754	$	1,754	$	—	$	—


	Fair Value Measurement
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2023:	(Dollars in thousands)
Investment securities available-for-sale
Debt securities:
U.S. Government-sponsored enterprises	$	39,351	$	2,645	$	36,706	$	—
Agency MBS	152,384		—		152,384		—
State and political subdivisions	66,439		—		66,439		—
Corporate	6,209		—		6,209		—
Total debt securities	$	264,383	$	2,645	$	261,738	$	—


Other investments:
Mutual funds	$	1,500	$	1,500	$	—	$	—

Schedule of Fair Values and Carrying Amounts, Significant Financial Instruments

As of the balance sheet dates, the estimated fair values and related carrying amounts of the Company's significant financial instruments were as follows:


	December 31, 2024
	Fair Value Measurement
	Carrying Amount		Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in thousands)
Financial assets
Cash and cash equivalents	$	15,838	$	15,838	$	15,838	$	—	$	—
Interest bearing deposits in banks	9,462		9,449		—		9,449		—
Investment securities	252,258		252,258		4,456		247,802		—
Loans held for sale	5,204		5,303		—		5,303		—
Loans, net
Residential real estate	464,691		441,373		—		—		441,373
Construction real estate	105,633		87,402		—		—		87,402
Commercial real estate	432,173		395,713		—		—		395,713
Commercial	34,863		33,096		—		—		33,096
Consumer	2,522		2,477		—		—		2,477
Municipal	110,336		108,163		—		—		108,163
Accrued interest receivable	6,470		6,470		—		1,226		5,244
Nonmarketable equity securities	11,352		N/A		N/A		N/A		N/A
Financial liabilities
Deposits
Noninterest bearing	226,048		226,048		226,048		—		—
Interest bearing	714,862		714,862		714,862		—		—
Time	227,984		226,890		—		226,890		—
Borrowed funds
Short-term	29,000		28,946		—		28,946		—
Long-term	230,696		229,613		—		229,613		—
Subordinated notes	16,273		16,128		—		16,128		—
Accrued interest payable	3,319		3,319		—		3,319		—


	December 31, 2023
	Fair Value Measurement
	Carrying Amount		Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in thousands)
Financial assets
Cash and cash equivalents	$	77,666	$	77,666	$	77,666	$	—	$	—
Interest bearing deposits in banks	14,690		14,690		—		14,690		—
Investment securities	265,883		265,883		4,145		261,738		—
Loans held for sale	3,070		3,110		—		3,110		—
Loans, net
Residential real estate	414,500		373,594		—		—		373,594
Construction real estate	87,588		85,678		—		—		85,678
Commercial real estate	401,753		373,279		—		—		373,279
Commercial	40,165		37,136		—		—		37,136
Consumer	2,589		2,536		—		—		2,536
Municipal	76,861		74,812		—		—		74,812
Accrued interest receivable	5,409		5,409		—		1,395		4,014
Nonmarketable equity securities	3,199		N/A		N/A		N/A		N/A
Financial liabilities
Deposits
Noninterest bearing	250,992		250,992		250,992		—		—
Interest bearing	765,689		765,689		765,689		—		—
Time	288,922		286,637		—		286,637		—
Borrowed funds
Short-term	10,000		9,990		—		9,990		—
Long-term	55,696		55,914		—		55,914		—
Subordinated notes	16,239		15,302		—		15,302		—
Accrued interest payable	1,666		1,666		—		1,666		—