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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value Measurements [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the balances of certain assets measured at fair value on a recurring basis as of the dates indicated:

         
Fair Value Measurements at December 31, 2022 Using
  
         
Quoted Prices in Active Markets for Identical Assets
(Level 1)
    
Significant Other Observable Inputs
(Level 2)
    
Significant Unobservable Inputs
(Level 3)
  
       
(dollars in thousands)
  
Balance
  
Assets:
                        
Available-for-sale securities
                        
U.S. Treasury securities
  
$
7,671
    
$
-
    
$
7,671
    
$
-
  
Obligations of  U.S. Government agencies
    
42,399
      
-
      
42,399
      
-
  
Obligations of state and political subdivisions
    
59,384
      
-
      
59,384
      
-
  
Mortgage-backed securities
    
88,913
      
-
      
88,913
      
-
  
Money market investments
    
1,816
      
-
      
1,816
      
-
  
Corporate bonds and other securities
    
25,335
      
-
      
25,335
      
-
  
Total available-for-sale securities
  

225,518
    

-
    

225,518
    

-
  
Derivatives
                                
Interest rate lock
     23       -       23       -  
Interest rate swap on loans
     1,447       -       1,447       -  
Total assets
   $
226,988     $
 -     $
226,988     $
-  
                                 
Liabilities:                                
Derivatives                                
Interest rate swap on loans
     1,447       -       1,447       -  
Total liabilities
   $
1,447     $
 -     $
 1,447     $ -  

         
Fair Value Measurements at December 31, 2021 Using
  
         
Quoted Prices in Active Markets for Identical Assets
(Level 1)
    
Significant Other Observable Inputs
(Level 2)
    
Significant Unobservable Inputs
(Level 3)
  
       
(dollars in thousands)
  
Balance
  
Available-for-sale securities
                        
U.S. Treasury securities
   $ 14,904     $ -     $ 14,904     $ -  
Obligations of  U.S. Government agencies
     38,558       -       38,558       -  
Obligations of state and political subdivisions
     65,803       -       65,803       -  
Mortgage-backed securities
     89,058       -       89,058       -  
Money market investments
     2,413       -       2,413       -  
Corporate bonds and other securities
     23,585       -       23,585       -  
Total available-for-sale securities
   $
234,321     $
 -     $
234,321     $
-  
Derivatives
                                
Interest rate lock
     43       -       43       -  
Interest rate swap on loans
     181       -       181       -  
Total assets
   $ 234,545     $ -     $ 234,545     $ -  
                                 
Liabilities:                                
Derivatives                                
Interest rate swap on loans
     181       -       181       -  
Total liabilities
   $ 181     $ -     $ 181     $ -  
Assets Measured at Fair Value on Nonrecurring Basis
The following tables present the assets carried on the consolidated balance sheets for which a nonrecurring change in fair value has been recorded. Assets are shown by class of loan and by level in the fair value hierarchy, as of the dates indicated. Certain impaired loans are valued by the present value of the loan’s expected future cash flows, discounted at the loan’s effective interest rate. These loans are not carried on the consolidated balance sheets at fair value and, as such, are not included in the tables below.

         
Carrying Value at December 31, 2022
  
(dollars in thousands)
  
Fair Value
    
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
    
Significant Other
Observable
Inputs
(Level 2)
    
Significant Unobservable Inputs
(Level 3)
  
Impaired loans
                        
Mortgage loans on real estate:
                        
Construction
   $ 110     $ -     $ -     $ 110  
Total
   $ 110     $ -     $ -     $ 110  
                                 
Loans
                                
Loans held for sale
  
$
421
    
$
-
    
$
421
    
$
-
  

         
Carrying Value at December 31, 2021
  
(dollars in thousands)
  
Fair Value
    
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
    
Significant Other
Observable
Inputs
(Level 2)
    
Significant Unobservable Inputs
(Level 3)
  
Impaired loans
                        
Mortgage loans on real estate:
                        
Commercial loans
   $ 87     $ -     $ -     $ 87  
Total
   $ 87     $ -     $ -     $ 87  
                                 
Loans
                                
Loans held for sale
  
$
3,287
    
$
-
    
$
3,287
    
$
-
  
Fair Value Inputs, Assets, Quantitative Information
The following tables display quantitative information about Level 3 Fair Value Measurements as of December 31, 2022 and 2021, respectively:

       
Quantitative Information About Level 3 Fair Value Measurements
  
(dollars in thousands)
  
Fair Value at December 31, 2022
  
Valuation Techniques
Unobservable Input
  
Range (Weighted Average)
  
Impaired loans
                
Construction loans
   $ 110  
 Market comparables
 Selling costs
     3.00% - 8.00% (7.25 %)

       
Quantitative Information About Level 3 Fair Value Measurements
  
(dollars in thousands)
  
Fair Value at December 31, 2021
  
Valuation Techniques
Unobservable Input
  
Range (Weighted Average)
  
Impaired loans
                
Commercial loans
   $ 87  
 Market comparables
 Selling costs
     0.00% - 8.00% (7.00 %)
Estimated Fair Values and Related Carrying or Notional Amounts of Financial Instruments
The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments as of the dates indicated are as follows:
         
Fair Value Measurements at December 31, 2022 Using
  
(dollars in thousands)  
Carrying Value
    
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
    
Significant Other
Observable
Inputs
(Level 2)
     Significant Unobservable Inputs
(Level 3)		  
Assets
                        
Cash and cash equivalents
  
$
19,250
    
$
19,250
    
$
-
    
$
-
  
Securities available-for-sale
    
225,518
      
-
      
225,518
      
-
  
Restricted securities
    
3,434
      
-
      
3,434
      
-
  
Loans held for sale
    
421
      
-
      
421
      
-
  
Loans, net of allowances for loan losses
    
1,016,559
      
-
      
-
      
996,807
  
Derivatives
                                
Interest rate lock
     23       -       23       -  
Interest rate swap on loans
     1,447       -       1,447       -  
Bank owned life insurance
    
34,049
      
-
      
34,049
      
-
  
Accrued interest receivable
    
4,253
      
-
      
4,253
      
-
  
                                 
Liabilities
                                
Deposits
  
$
1,156,019
    
$
-
    
$
1,156,547
    
$
-
  
Federal funds purchased
     11,378       -       11,378       -  
Overnight repurchase agreements
    
4,987
      
-
      
4,987
      
-
  
Federal Home Loan Bank advances
     46,100       -       46,100       -  
Long term borrowings
    
29,538
      
-
      
25,539
      
-
  
Derivatives
                                
Interest rate swap on loans
     1,447       -       1,447       -  
Accrued interest payable
    
834
      
-
      
834
      
-
  

         
Fair Value Measurements at December 31, 2021 Using
  
(dollars in thousands)
  
Carrying Value
    
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
    
Significant Other
Observable
Inputs
(Level 2)
     Significant Unobservable Inputs
(Level 3)		  
Assets
                        
Cash and cash equivalents
  
$
187,922
    
$
187,922
    
$
-
    
$
-
  
Securities available-for-sale
    
234,321
      
-
      
234,321
      
-
  
Restricted securities
    
1,034
      
-
      
1,034
      
-
  
Loans held for sale
    
3,287
      
-
      
3,287
      
-
  
Loans, net of allowances for loan losses
     833,661       -       -       834,693  
Derivatives
                                
Interest rate lock
     43       -       43       -  
Interest rate swap on loans
     181       -       181       -  
Bank owned life insurance
    
28,168
      
-
      
28,168
      
-
  
Accrued interest receivable
    
3,339
      
-
      
3,339
      
-
  
                                 
Liabilities
                                
Deposits
  
$
1,177,099
    
$
-
    
$
1,179,631
    
$
-
  
Overnight repurchase agreements
    
4,536
      
-
      
4,536
      
-
  
Federal Reserve Bank borrowings
    
480
      
-
      
480
      
-
  
Long term borrowings
     29,407       -       29,657       -  
Derivatives
                                
Interest rate swap on loans
     181       -       181       -  
Accrued interest payable
    
693
      
-
      
693
      
-