Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value of Financial Instruments [Abstract]

Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:

	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)
Assets:
U.S. Government securities	$	54,792	$	—		$	—
U.S. Government sponsored entity securities		—		7,983			—
Agency mortgage-backed securities, residential		—		121,299			—
Interest rate swap derivatives		—		1,340			—
Liabilities:
Interest rate swap derivatives		—		(1,340	)		—

	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)
Assets:
U.S. Government securities	$	20,143	$	—		$	—
U.S. Government sponsored entity securities		—		25,916			—
Agency mortgage-backed securities, residential		—		130,941			—
Interest rate swap derivatives		—		599			—
Liabilities:
Interest rate swap derivatives		—		(599	)		—

Assets and Liabilities Measured on Nonrecurring Basis

There were no assets or liabilities measured at fair value on a nonrecurring basis at December 31, 2022. Assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2021 are summarized below:

	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)
Assets:
Impaired loans:
Commercial and Industrial	$	—	$	—	$	1,983

Quantitative Information about Level 3 Inputs

There was no quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2022. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2021:

December 31, 2021	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range	(Weighted Average)
Impaired loans:
Commercial and Industrial	$	1,983	Sales approach	Adjustment to comparables and equipment comparables	0% to 25%		18.5%

Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at December 31, 2022 and December 31, 2021 are as follows:

			Fair Value Measurements at December 31, 2022 Using:
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	45,990	$	45,990	$	—	$	—	$	45,990
Certificates of deposit in financial institutions		1,862		—		1,862		—		1,862
Securities available for sale		184,074		54,792		129,282		—		184,074
Securities held to maturity		9,226		—		4,987		3,473		8,460
Loans, net		879,780		—		—		846,870		846,870
Interest rate swap derivatives		1,340		—		1,340		—		1,340
Accrued interest receivable		3,112		—		485		2,627		3,112
Financial Liabilities:
Deposits		1,027,655		875,736		149,974		—		1,025,710
Other borrowed funds		17,945		—		16,364		—		16,364
Subordinated debentures		8,500		—		8,500		—		8,500
Interest rate swap derivatives		1,340		—		1,340		—		1,340
Accrued interest payable		432		1		431		—		432

			Fair Value Measurements at December 31, 2021 Using:
	Carrying Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	152,034	$	152,034	$	—	$	—	$	152,034
Certificates of deposit in financial institutions		2,329		—		2,329		—		2,329
Securities available for sale		177,000		20,143		156,857		—		177,000
Securities held to maturity		10,294		—		6,063		4,387		10,450
Loans, net		824,708		—		—		821,899		821,899
Interest rate swap derivatives		599		—		599		—		599
Accrued interest receivable		2,695		—		363		2,332		2,695
Financial Liabilities:
Deposits		1,059,908		870,626		189,796		—		1,060,422
Other borrowed funds		19,614		—		20,279		—		20,279
Subordinated debentures		8,500		—		8,500		—		8,500
Interest rate swap derivatives		599		—		599		—		599
Accrued interest payable		439		1		438		—		439