Fair Value Accounting (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

					September 30, 2023
(dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Securities available for sale
Corporate bonds	$	-		1,850		-		1,850
US treasuries		-		25,603		-		25,603
US government agencies		-		18,724		-		18,724
State and political subdivisions		-		18,310		-		18,310
Asset-backed securities		-		29,641		-		29,641
Mortgage-backed securities		-		49,907		-		49,907
Mortgage loans held for sale		-		7,117		-		7,117
Mortgage loan interest rate lock commitments		-		160		-		160
MBS forward sales commitments		-		38		-		38
Derivative asset		-		6,250		-		6,250
Total assets measured at fair value on a recurring basis	$	-		157,600		-		157,600

	December 31, 2022
(dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Securities available for sale:
Corporate bonds	$	-		1,883		-		1,883
US treasuries		-		871		-		871
US government agencies		-		10,617		-		10,617
State and political subdivisions		-		18,906		-		18,906
Asset-backed securities		-		6,229		-		6,229
Mortgage-backed securities		-		54,841		-		54,841
Mortgage loans held for sale		-		3,917		-		3,917
Mortgage loan interest rate lock commitments		-		49		-		49
MBS forward sales commitments		-		27		-		27
Total assets measured at fair value on a recurring basis	$	-		97,340		-		97,340

Schedule of assets and liabilities measured at fair value on a nonrecurring basis

				As of September 30, 2023
(dollars in thousands)		Level 1	Level 2		Level 3	Total
Assets
Individually evaluated loans	$	-	957		3,624	4,581
Total assets measured at fair value on a nonrecurring basis	$	-	957		3,624	4,581

					As of December 31, 2022
(dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Individually evaluated loans	$	-		429		4,071		4,500
Total assets measured at fair value on a nonrecurring basis	$	-		429		4,071		4,500

Schedule of unobservable inputs used in the fair value measurements

	Valuation Technique	Significant Unobservable Inputs	Range of Inputs
Individually evaluated loans	Appraised Value/ Discounted Cash Flows	Discounts to appraisals or cash flows for estimated holding and/or selling costs or age of appraisal	0-25%

Schedule of estimated fair values of the company's financial instruments

					September 30, 2023
(dollars in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Other investments, at cost	$	19,600		19,600		-		-		19,600
Loans1		3,506,372		3,221,087		-		-		3,221,087
Financial Liabilities:
Deposits		3,347,771		2,957,882		-		2,957,882		-
Subordinated debentures		36,295		40,820		-		40,820		-

					December 31, 2022
(dollars in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Other investments, at cost	$	10,833		10,833		-		-		10,833
Loans1		3,227,455		3,057,891		-		-		3,057,891
Financial Liabilities:
Deposits		3,133,864		2,717,900		-		2,717,900		-
Subordinated debentures		36,214		39,885		-		39,885		-

¹ Carrying amount is net of the allowance for credit losses and individually evaluated loans.