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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2025
Fair Value Measurements  
Schedule of fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis

Fair Value Measurements Using

    

    

Quoted Prices

    

    

in Active

Significant

Markets for

Other

Significant

Identical

Observable

Unobservable

Assets

Inputs

Inputs

Fair Value

(Level 1)

(Level 2)

(Level 3)

(In thousands)

September 30, 2025

U.S. government agencies

$

12,433

$

$

12,433

$

Subordinated Notes

23,595

23,595

State and municipal obligations

217,698

217,698

December 31, 2024

 

 

  

U.S. government agencies

$

12,254

$

$

12,254

$

Subordinated Notes

24,118

24,118

State and municipal obligations

204,259

204,259

Schedule of fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a non-recurring basis

Fair Value Measurements Using

    

    

Quoted Prices

    

    

in Active

Significant

Markets for

Other 

Significant

Identical

Observable

Unobservable

Fair

Assets

Inputs

Inputs

Value

(Level 1)

(Level 2)

(Level 3)

(In thousands)

September 30, 2025

 

  

 

  

 

  

 

  

Collateral dependent loans

$

134

$

$

134

$

Foreclosed assets held for sale

 

 

 

 

 

  

 

 

  

 

  

December 31, 2024

 

  

 

  

 

  

 

  

Collateral dependent loans

$

$

$

$

Foreclosed assets held for sale

 

120

 

 

 

120

Schedule of quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements

    

Fair Value at

    

Valuation

    

Unobservable

    

 

    

9/30/25

    

Technique

    

Inputs

    

Range

 

(In thousands)

 

Collateral-dependent loans

$

 

Market comparable properties

 

Comparability adjustments

 

5% –10%

Foreclosed assets held for sale

 

 

Market comparable properties

 

Marketability discount

 

10% – 35%

    

Fair Value at

    

Valuation

    

Unobservable

    

12/31/24

Technique

Inputs

Range

(In thousands)

Collateral-dependent loans

$

 

Market comparable properties

 

Comparability adjustments

 

5% – 10%

Foreclosed assets held for sale

120

 

Market comparable properties

 

Marketability discount

 

10% – 35%

Schedule of estimated fair values of company's financial instruments

Fair Value Measurements Using

    

    

Quoted Prices

    

    

in Active

Significant

Markets for

Other

Significant

Identical

Observable 

Unobservable 

Carrying

Assets

Inputs

Inputs

Amount

(Level 1)

(Level 2)

(Level 3)

(In thousands)

September 30, 2025:

Financial assets

 

  

 

  

 

  

 

  

Cash and cash equivalents

$

45,652

$

45,652

$

$

Loans, net of allowance

492,234

479,128

Federal Home Loan Bank

4,030

4,030

Accrued interest receivable

3,631

3,631

Financial liabilities

Deposits

645,193

644,095

Securities sold under repurchase agreements

45,514

45,514

Subordinated debentures

23,893

23,092

Advance Federal Home Loan Bank

75,000

75,464

Accrued interest payable

607

607

Fair Value Measurements Using

    

    

Quoted Prices

    

    

in Active

Significant

Markets for

Other

Significant

Identical

Observable

Unobservable

Carrying

Assets

Inputs

Inputs

Amount

(Level 1)

(Level 2)

(Level 3)

(In thousands)

December 31, 2024:

 

 

  

 

  

 

  

 

 

  

 

  

 

  

Financial assets

 

 

  

 

  

 

  

Cash and cash equivalents

$

19,608

$

19,608

$

$

Loans, net of allowance

 

486,945

466,951

Federal Home Loan Bank stock

 

4,026

4,026

Accrued interest receivable

 

4,322

4,322

Financial liabilities

 

Deposits

613,494

614,869

Securities sold under repurchase agreements

 

30,494

30,494

Subordinated debentures

 

23,847

24,386

Advance Federal Home Loan Bank

75,000

74,728

Accrued interest payable

 

831

831