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Fair Value Measurement
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurement Fair Value Measurement
The Company utilizes FASB ASC Topic 820, Fair Value Measurement, as guidance for accounting for assets and liabilities carried at fair value. This standard defines fair value as the price that would be received, without adjustment for transaction costs, to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is a market based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The guidance in FASB ASC Topic 820 establishes a three-level fair value hierarchy, which prioritizes the inputs used in measuring fair value. A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

The three levels of the fair value hierarchy are:
•Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
•Level 2 - Quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability;
•Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).

The following is a description of the valuation methodologies used for the Company’s assets that are measured on a recurring basis at estimated fair value:
Investment securities AFS: Certain U.S. Treasury notes have been valued using unadjusted quoted prices from active markets and therefore have been classified as Level 1. However, the majority of the Company’s AFS securities have been valued utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include market maker bids, quotes and pricing models. Inputs to the pricing models include recent trades, benchmark interest rates, spreads and actual and projected cash flows.
Mutual funds: Mutual funds have been valued using unadjusted quoted prices from active markets and therefore have been classified as Level 1.
Assets measured at fair value on a recurring basis at September 30, 2025 and December 31, 2024, segregated by fair value hierarchy level, are summarized below:
 Fair Value Measurements
 Fair
Value		Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
September 30, 2025:(Dollars in thousands)
Debt securities AFS:
U.S. Government-sponsored enterprises$25,867 $2,815 $23,052 $— 
Agency mortgage-backed185,007 — 185,007 — 
State and political subdivisions47,544 — 47,544 — 
Corporate1,986 — 1,986 — 
Total debt securities$260,404 $2,815 $257,589 $— 
Other investments:
Mutual funds$1,967 $1,967 $— $— 
December 31, 2024:    
Debt securities AFS:    
U.S. Government-sponsored enterprises$26,215 $2,702 $23,513 $— 
Agency mortgage-backed173,275 — 173,275 — 
State and political subdivisions48,550 — 48,550 — 
Corporate2,464 — 2,464 — 
Total debt securities$250,504 $2,702 $247,802 $— 
Other investments:
Mutual funds$1,754 $1,754 $— $— 

There were no transfers in or out of Levels 1 and 2 during the three and nine months ended September 30, 2025 or the year ended December 31, 2024, nor were there any Level 3 assets at any time during these periods. Certain other assets and liabilities are measured at fair value on a nonrecurring basis, that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Assets and liabilities measured at fair value on a nonrecurring basis in periods after initial recognition, such as collateral dependent individually evaluated loans, MSRs and OREO, were not considered material at September 30, 2025 or December 31, 2024. The Company has not elected to apply the fair value method to any financial assets or liabilities other than those situations where other accounting pronouncements require fair value measurements.

FASB ASC Topic 825, Financial Instruments, requires disclosure of the estimated fair value of financial instruments. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Management’s estimates and assumptions are inherently subjective and involve uncertainties and matters of significant judgment. Changes in assumptions could dramatically affect the estimated fair values.

Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Certain financial instruments and all nonfinancial instruments may be excluded from disclosure requirements. Thus, the aggregate fair value amounts presented may not necessarily represent the actual underlying fair value of such instruments of the Company.
As of the balance sheet dates, the estimated fair values and related carrying amounts of the Company's significant financial instruments were as follows:
September 30, 2025
Fair Value Measurements
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$35,473 $35,473 $35,473 $— $— 
Interest bearing deposits in banks8,457 8,460 — 8,460 — 
Investment securities262,371 262,371 4,782 257,589 — 
Loans held for sale4,529 4,593 — 4,593 — 
Loans, net
Residential real estate468,599 442,699 — — 442,699 
Construction real estate112,407 111,659 — — 111,659 
Commercial real estate430,758 414,144 — — 414,144 
Commercial32,467 31,542 — — 31,542 
Consumer2,659 2,627 — — 2,627 
Municipal121,093 118,201 — — 118,201 
Accrued interest receivable5,589 5,589 — 904 4,685 
Nonmarketable equity securities12,161 N/AN/AN/AN/A
Financial liabilities
Deposits
Noninterest bearing$227,202 $227,202 $227,202 $— $— 
Interest bearing651,261 651,261 651,261 — — 
Time311,123 310,664 — 310,664 — 
Borrowed funds
Long-term270,841 272,604 — 272,604 — 
Subordinated notes16,299 17,060 — 17,060 — 
Accrued interest payable3,130 3,130 — 3,130 — 
 December 31, 2024
 Fair Value Measurements
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 banks9,462 9,449 — 9,449 — 
Investment securities252,258 252,258 4,456 247,802 — 
Loans held for sale5,204 5,303 — 5,303 — 
Loans, net
Residential real estate464,691 425,103 — — 425,103 
Construction real estate105,633 103,672 — — 103,672 
Commercial real estate432,173 395,713 — — 395,713 
Commercial34,863 33,096 — — 33,096 
Consumer2,522 2,477 — — 2,477 
Municipal110,336 108,163 — — 108,163 
Accrued interest receivable6,470 6,470 — 1,226 5,244 
Nonmarketable equity securities11,352 N/AN/AN/AN/A
Financial liabilities
Deposits
Noninterest bearing$226,048 $226,048 $226,048 $— $— 
Interest bearing714,862 714,862 714,862 — — 
Time227,984 226,890 — 226,890 — 
Borrowed funds
Short-term29,000 28,946 — 28,946 — 
Long-term230,696 229,613 — 229,613 — 
Subordinated notes16,273 16,128 — 16,128 — 
Accrued interest payable3,319 3,319 — 3,319 — 
The carrying amounts in the preceding tables are included in the consolidated balance sheets under the applicable captions. Accrued interest receivable and nonmarketable equity securities are included in Other assets in the consolidated balance sheets.