FAIR VALUE MEASUREMENT (Tables)

3 Months Ended

Mar. 31, 2026

FAIR VALUE MEASUREMENT

Fair Value Measurements by Level of Valuation Inputs

The following tables summarize financial assets and financial liabilities measured at fair value as of March 31, 2026 and December 31, 2025 segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value. There were no assets measured at fair value on a non-recurring basis as of March 31, 2026 or December 31, 2025.

	(Level 1)		(Level 2)		(Level 3)
	Quoted Prices in		Significant		Significant
(Dollars in thousands)	Active Markets		Other		Other
	for Identical		Observable		Unobservable
March 31, 2026	Assets		Inputs		Inputs		Total
Assets measured at fair value on a recurring basis:
Debt securities available for sale:
Obligations of U.S. Government agencies and corporations	$	—	$	12,685	$	—	$	12,685
Obligations of state and political subdivisions		—		6,300		—		6,300
Corporate debt securities		—		5,393		5,850		11,243
Mortgage-backed securities, residential		—		24,527		—		24,527
Total debt securities available for sale	$	—	$	48,905	$	5,850	$	54,755
Equity securities	$	1,331	$	—	$	—	$	1,331
Mortgage servicing rights	$	—	$	—	$	58	$	58
Derivatives	$	—	$	110	$	—	$	110
Liabilities measured at fair value on a recurring basis:
Derivatives	$	—	$	129	$	—	$	129

	(Level 1)		(Level 2)		(Level 3)
	Quoted Prices in		Significant		Significant
(Dollars in thousands)	Active Markets		Other		Other
	for Identical		Observable		Unobservable
December 31, 2025	Assets		Inputs		Inputs		Total
Assets measured at fair value on a recurring basis:
Debt securities available for sale:
Obligations of U.S. Government agencies and corporations	$	—	$	12,619	$	—	$	12,619
Obligations of state and political subdivisions		—		6,345		—		6,345
Corporate debt securities		—		5,218		5,780		10,998
Mortgage-backed securities, residential		—		25,638		—		25,638
Total debt securities available for sale	$	—	$	49,820	$	5,780	$	55,600
Equity securities	$	1,273	$	—	$	—	$	1,273
Mortgage servicing rights	$	—	$	—	$	60	$	60
Derivatives	$	—	$	161	$	—	$	161
Liabilities measured at fair value on a recurring basis:
Derivatives	$	—	$	181	$	—	$	181

Reconciliation of Investment Securities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs

The table below presents a reconciliation of the beginning and ending balances of investment securities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2026 and 2025.

	Three Months Ended
(Dollars in thousands)	March 31,
	2026		2025
Investment Securities:
Beginning balance	$	5,780	$	6,955
Total gain included in OCI		70		170
Purchases		—		—
Principal payments and other		—		—
Sales		—		—
Balance, end of period	$	5,850	$	7,125

Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of the Company’s financial instruments are as follows:

	Financial Instruments
(Dollars in thousands)	March 31, 2026				December 31, 2025
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value
Financial assets:
Cash and due from banks	$	5,486	$	5,486	$	5,719	$	5,719
Interest bearing deposits with banks		6,426		6,426		5,729		5,729
Equity securities		1,331		1,331		1,273		1,273
Debt securities available for sale		54,755		54,755		55,600		55,600
Debt securities held to maturity		180,148		176,664		182,205		179,984
Loans, net of allowance for credit losses		602,848		588,982		594,295		580,626
Derivatives		110		110		161		161
Accrued interest receivable		2,569		2,569		2,388		2,388
Financial liabilities:
Time deposits	$	224,991	$	223,895	$	219,893	$	219,574
Securities sold under agreements to repurchase		10,134		N/A		15,406		N/A
Short-term borrowings		36,400		36,400		34,500		34,500
Derivatives		129		129		181		181
Other interest bearing liabilities		655		654		720		719
Accrued interest payable		839		839		822		822
Off-balance sheet financial instruments:
Commitments to extend credit	$	—	$	—	$	—	$	—
Letters of credit		—		—		—		—

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables present the carrying amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments not previously disclosed as of March 31, 2026 and December 31, 2025. The tables exclude financial instruments for which the carrying amount approximates fair value.

					(Level 1)		(Level 2)		(Level 3)
					Quoted Prices in		Significant		Significant
(Dollars in thousands)					Active Markets		Other		Other
	Carrying				for Identical		Observable		Unobservable
	Amount		Fair Value		Assets or Liabilities		Inputs		Inputs
March 31, 2026
Financial instruments – Assets
Debt securities held to maturity	$	180,148	$	176,664	$	—	$	176,664	$	—
Loans, net of allowance for credit losses		602,848		588,982		—		—		588,982
Financial instruments – Liabilities
Time deposits	$	224,991	$	223,895	$	—	$	223,895	$	—
Other interest bearing liabilities		655		654		—		654		—

					(Level 1)		(Level 2)		(Level 3)
					Quoted Prices in		Significant		Significant
(Dollars in thousands)					Active Markets		Other		Other
	Carrying				for Identical		Observable		Unobservable
	Amount		Fair Value		Assets or Liabilities		Inputs		Inputs
December 31, 2025
Financial instruments – Assets
Debt securities held to maturity	$	182,205	$	179,984	$	—	$	179,984	$	—
Loans, net of allowance for credit losses		594,295		580,626		—		—		580,626
Financial instruments – Liabilities
Time deposits	$	219,893	$	219,574	$	—	$	219,574	$	—
Other interest bearing liabilities		720		719		—		719		—