Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Measurements

Summary of fair value measurements on a recurring basis

							Fair
Dollars are in thousands	Level 1		Level 2		Level 3		Value
September 30, 2022
Securities available for sale:
Obligations of U.S. Government agencies and corporations	$	—	$	13,502	$	—	$	13,502
Obligations of States and political subdivisions		—		25,619		—		25,619
Mortgage-backed securities		—		89,939		—		89,939
Subordinated debt investments		—		2,405		—		2,405
Total securities available for sale	$	—	$	131,465	$	—	$	131,465
December 31, 2021
Securities available for sale:
Obligations of U.S. Government agencies and corporations	$	—	$	6,451	$	—	$	6,451
Obligations of States and political subdivisions		—		31,126		—		31,126
Mortgage-backed securities		—		82,403		—		82,403
Subordinated debt investments		—		2,041		—		2,041
Total securities available for sale	$	—	$	122,021	$	—	$	122,021

Summary of the balances of financial assets measured at fair value on a non-recurring basis

							Fair
Dollars are in thousands	Level 1		Level 2		Level 3		Value
September 30, 2022
Impaired loans	$	—	$	—	$	3,216	$	3,216
Total	$	—	$	—	$	3,216	$	3,216
December 31, 2021
Impaired loans	$	—	$	—	$	4,653	$	4,653
OREO		—		—		837		837
Total	$	—	$	—	$	5,490	$	5,490

Schedule of fair value financial assets measured on non-recurring basis valuation techniques

September 30, 2022			Valuation	Unobservable	Range of
Dollars are in thousands	Fair Value		Technique	Inputs	Inputs
Impaired loans	$	3,216	Appraisals	Discount to reflect current market conditions and estimated selling costs	8%
Total	$	3,216

December 31, 2021			Valuation	Unobservable	Range of
Dollars are in thousands	Fair Value		Technique	Inputs	Inputs
Impaired loans	$	4,653	Appraisals	Discount to reflect current market conditions and estimated selling costs	8%
OREO		837	Appraisals or Listing Price	Discount to reflect current market conditions and estimated selling costs	8-10%
Total	$	5,490