Fair Value (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Quoted Prices in

Significant

Active Markets

Other

Significant

for

Observable

Unobservable

Identical Assets

Inputs

Inputs

(Dollars in thousands)

Amount

(Level 1)

(Level 2)

(Level 3)

September 30, 2024:

Securities available-for-sale:

Agency obligations 

$

54,077

—

54,077

—

Agency MBS

185,854

—

185,854

—

State and political subdivisions

18,354

—

18,354

—

Total securities available -for-sale

258,285

—

258,285

—

Total assets at fair value

$

258,285

—

258,285

—

December 31, 2023:

Securities available-for-sale:

Agency obligations 

$

53,879

—

53,879

—

Agency MBS

198,289

—

198,289

—

State and political subdivisions

18,742

—

18,742

—

Total securities available -for-sale

270,910

—

270,910

—

Total assets at fair value

$

270,910

—

270,910

—

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]

Quoted Prices in

Active Markets

Other

Significant

for

Observable

Unobservable

Carrying

Identical Assets

Inputs

Inputs

(Dollars in thousands)

Amount

(Level 1)

(Level 2)

(Level 3)

September 30, 2024:

Loans held for sale

$

565

—

565

—

Loans, net

(1)

735

—

—

735

Other assets

(2)

919

—

—

919

Total assets at fair value

$

2,219

—

565

1,654

December 31, 2023:

Loans, net

(1)

$

783

—

—

783

Other assets

(2)

992

—

—

992

Total assets at fair value

$

1,775

—

—

1,775

(1)

Loans considered collateral dependent under ASC 326.

(2)

Represents MSRs, net, carried at lower of cost or estimated fair value.

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

Range of

Weighted 

Carrying 

Significant 

Unobservable

Average

(Dollars in thousands)

Amount

Valuation Technique

Unobservable Input

Inputs

of Input

September 30, 2024:

Collateral dependent loans

$

735

Appraisal

Appraisal discounts

10.0

-

10.0

%

10.0

%

Mortgage servicing rights, net

919

Discounted cash flow

Prepayment speed or CPR

7.0

-

11.1

7.6

Discount rate

10.0

-

12.0

10.0

December 31, 2023:

Collateral dependent loans

$

783

Appraisal

Appraisal discounts

10.0

-

10.0

%

10.0

%

Mortgage servicing rights, net

992

Discounted cash flow

Prepayment speed or CPR

5.9

-

10.6

6.0

Discount rate

10.5

-

12.5

10.5

Financial Instruments [Table Text Block]

Fair Value Hierarchy

Carrying

Estimated

Level 1

Level 2

Level 3

(Dollars in thousands)

amount

fair value

inputs

inputs

Inputs

September 30, 2024:

Financial Assets:

Loans, net (1)

$

558,823

$

531,005

$

—

$

—

$

531,005

Loans held for sale

565

580

—

580

—

Financial Liabilities:

Time Deposits

$

189,451

$

188,363

$

—

$

188,363

$

—

December 31, 2023:

Financial Assets:

Loans, net (1)

$

550,431

$

526,372

$

—

$

—

$

526,372

Financial Liabilities:

Time Deposits

$

198,215

$

195,171

$

—

$

195,171

$

—

(1) Represents loans, net of allowance for credit losses. The fair value of loans was measured using an exit price notion.