Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Investments All Other Investments [Abstract]

Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments

The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of March 31, 2023 and December 31, 2022:

March 31, 2023	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
	(dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents	$	117,378	$	117,378	$	117,378	$	—	$	—
Securities available for sale		331,154		331,154		51,352		275,796		4,006
Securities held to maturity		29,227		26,596		—		13,025		13,571
Equity securities		326		326		326		—		—
Loans held for investment, net		511,798		477,252		—		—		477,252
Loans held for sale		4,089		4,089		—		4,089		—
Restricted stock		1,468		1,468		1,468		—		—
Loan servicing rights		4,746		6,870		—		6,870		—
Mortgage banking derivatives		374		374		—		10		364
Accrued interest receivable		3,837		3,837		—		—		3,837
FINANCIAL LIABILITIES
Deposits	$	960,798		959,200		—		959,200		—
Short-term borrowings		982		982		—		982		—
Long-term borrowings		29,376		25,167		—		—		25,167
Mortgage banking derivatives		166		166		—		166		—
Accrued interest payable		70		70		—		—		70

December 31, 2022	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
	(dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents	$	114,581	$	114,581	$	114,581	$	—	$	—
Securities available for sale		324,683		324,683		50,630		270,054		3,999
Securities held to maturity		30,306		27,178		—		13,526		13,652
Equity securities		292		292		292		—		—
Loans held for investment, net		495,599		458,479		—		—		458,479
Loans held for sale		2,774		2,774		—		2,774		—
Restricted stock		1,428		1,428		1,428		—		—
Loan servicing rights		4,931		6,972		—		6,972		—
Accrued interest receivable		3,633		3,633		—		—		3,633
FINANCIAL LIABILITIES
Deposits	$	939,856	$	938,114	$	—	$	938,114	$	—
Short-term borrowings		1,044		1,044		—		1,044		—
Long-term borrowings		29,607		25,869		—		—		25,869
Mortgage banking derivatives		175		175		—		80		95
Accrued interest payable		108		108		—		—		108