Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, All Other Investments [Abstract]

Summary of Carrying Amounts and Fair Values of Financial Instruments

The following table presents the carrying amounts and fair values of the Company’s financial instruments as of December 31, 2023 and 2022.

	December 31,
	2023				2022
(Dollars in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets
Cash, cash equivalents, and federal funds sold (1)	$	149,845	$	149,845	$	105,598	$	105,598
Equity investments		11,430		11,430		10,293		10,293
Investment securities		54,282		54,282		48,492		48,492
Loans receivable		2,131,651		2,131,651		1,853,108		1,853,108
Accrued interest receivable (2)		13,538		13,538		12,613		12,613
Equity securities(3)		1,748		1,748		1,724		1,724
Financial liabilities
Funds borrowed		2,118,689		2,118,689		1,833,434		1,833,434
Accrued interest payable (2)		6,822		6,822		4,790		4,790

(1)Categorized as level 1 within the fair value hierarchy, excluding $1.3 million as of December 31, 2023 and $1.3 million as of December 31, 2022 of interest-bearing deposits categorized as level 2. See Note 15.

(2)Categorized as level 3 within the fair value hierarchy. See Note 15.

(3)Included within other assets on the balance sheet.