Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Values of Financial Instruments

Schedule of estimated fair values of financial instruments

	December 31, 2023				December 31, 2022
(dollars in thousands)	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial assets:
Cash and due from banks	$	1,940	$	1,940	$	2,035	$	2,035
Interest-bearing deposits in other financial institutions		12,189		12,189		22,680		22,680
Federal funds sold		1,112		1,112		5,377		5,377
Investment securities available for sale		139,427		139,427		144,133		144,133
Investments in restricted stock		1,217		1,217		221		221
Ground rents		130		130		131		131
Loans, less allowance for credit losses		174,150		161,802		184,278		177,254
Accrued interest receivable		1,192		1,192		1,159		1,159
Cash value of life insurance		8,657		8,657		8,493		8,493
Financial liabilities:
Deposits		300,067		252,707		362,947		299,773
Short-term borrowings		30,000		30,000		—		—
Accrued interest payable		366		366		9		9
Unrecognized financial instruments:
Commitments to extend credit		33,162		33,162		30,718		30,718
Standby letters of credit		45		45		45		45

Schedule of fair value hierarchy of financial instruments

(dollars in thousands)
	Carrying		Fair
December 31, 2023	Amount		Value		Level 1		Level 2	Level 3
Financial instruments - Assets
Cash and cash equivalents	$	15,241	$	15,241	$	15,241	—	$	—
Loans receivable, net		174,150		161,802		—	—		161,802
Cash value of life insurance		8,657		8,657		—	8,657		—
Financial instruments - Liabilities
Deposits		300,067		252,707		33,118	219,589		—