Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Recorded at Fair Value on a Recurring Basis

			Fair Value Measurements
(in thousands)	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2024
Assets:
U.S. Treasury	$	993	$	993	$	—	$	—
U.S. government and federal agency obligations	392		—		392		—
U.S. government-sponsored enterprises	12,747		—		12,747		—
Obligations of states and political subdivisions	104,028		—		104,028		—
Mortgage-backed securities	53,394		—		53,394		—
Other debt securities	10,695		—		10,695		—
Bank-issued trust preferred securities	1,205		—		1,205		—
Equity securities	78		78		—		—
Interest rate lock commitments	43		—		—		43
Forward sale commitments	10		—		10		—
Loans held for sale	2,909		—		2,909		—
Mortgage servicing rights	127		—		—		127
Total	$	186,621	$	1,071	$	185,380	$	170
Liabilities:
Interest rate lock commitments	$	7	$	—	$	—	$	7
Forward sale commitments	9		—		9		—
Total	$	16	$	—	$	9	$	7
December 31, 2023
Assets:
U.S. Treasury	$	1,978	$	1,978	$	—	$	—
U.S. government and federal agency obligations	427		—		427		—
U.S. government-sponsored enterprises	21,822		—		21,822		—
Obligations of states and political subdivisions	106,885		—		106,885		—
Mortgage-backed securities	45,640		—		45,640		—
Other debt securities	10,821		—		10,821		—
Bank-issued trust preferred securities	1,169		—		1,169		—
Equity securities	78		78		—		—
Interest rate lock commitments	43		—		—		43
Loans held for sale	3,884		—		3,884		—
Mortgage servicing rights	1,738		—		—		1,738
Total	$	194,485	$	2,056	$	190,648	$	1,781
Liabilities:
Interest rate lock commitments	$	2	$	—	$	—	$	2
Forward sale commitments	41		—		41		—
Total	$	43	$	—	$	41	$	2

Schedule of Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Mortgage Servicing Rights				Interest Rate Lock Commitments
	Three Months Ended March 31,
(in thousands)	2024		2023		2024		2023
Balance at beginning of period	$	1,738	$	2,899	$	41	$	2
Total gains or (losses) (realized/unrealized):
Included in earnings	(59)		29		(9)		106
Included in other comprehensive income	—		—		—		—
Purchases	—		—		—		—
Sales	(1,552)		—		(41)		(128)
Issues	—		6		45		127
Balance at end of period	$	127	$	2,934	$	36	$	107

Schedule of Valuation Methods for Instruments Measured at Fair Value on a Nonrecurring Basis

			Fair Value Measurements Using
(in thousands)	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Three Months Ended March 31, Total Gains (Losses)*
March 31, 2024
Assets:
Collateral dependent impaired loans:
Commercial, financial, & agricultural	$	343	—		—		$	343	$	—
Real estate construction − residential	260		—		—		260		—
Real estate mortgage - residential	21		—		—		21		—
Real estate mortgage - commercial	3,163		—		—		3,163		(23)
Total	$	3,787	$	—	$	—	$	3,787	$	(23)
Other real estate and repossessed assets	$	1,937	$	—	$	—	$	1,937	$	34
March 31, 2023
Assets:
Collateral dependent impaired loans:
Commercial, financial, & agricultural	$	50	$	—	$	—	$	50	$	—
Real estate mortgage - residential	86		—		—		86		—
Real estate mortgage - commercial	18,228		—		—		18,228		(5)
Total	$	18,364	$	—	$	—	$	18,364	$	(5)
Other real estate and repossessed assets	$	8,247	$	—	$	—	$	8,247	$	9

*Total gains (losses) reported for other real estate and foreclosed assets includes charge-offs, valuation write downs, and net losses taken during the periods reported.