Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Investments, All Other Investments [Abstract]

Fair Value, by Balance Sheet Grouping

The Company’s estimated fair values of financial instruments are presented in the following table.

		June 30, 2024				December 31, 2023
	Fair value	Carrying		Fair		Carrying		Fair
(dollars in thousands)	hierarchy	amount		value		amount		value
Financial assets
Cash and cash equivalents	Level 1	$	90,639	$	90,639	$	73,742	$	73,742
Equity investment	Level 2		236		236		256		256
Securities held to maturity	Level 2		10,089		9,046		10,209		9,206
Securities held to available for sale	Level 2		32,868		32,868		34,781		34,781
Federal Home Loan Bank of Atlanta stock	Level 2		654		654		626		626
Net loans	Level 3		693,826		679,697		696,248		686,879
Accrued interest receivable	Level 2		3,344		3,344		3,279		3,279
Financial liabilities
Deposits	Level 3	$	640,300	$	637,566	$	634,120	$	631,720
Subordinated Debentures	Level 3		34,806		29,186		37,251		31,018
Accrued interest payable	Level 2		609		609		193		193