Disclosures about Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Disclosures about Fair Value of Assets and Liabilities [Abstract]

Assets Measured at Fair Value on Nonrecurring Basis

The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2023 and December 31, 2022 (dollars in thousands):

	Fair Value			(Level 1)			(Level 2)			(Level 3)
December 31, 2023
Impaired loans (collateral- dependent)		$	16,370		$	-		$	-		$	16,370
Asset retirement obligations			361			-			-			361
December 31, 2022
Impaired loans (collateral- dependent)		$	6,553		$	-		$	-		$	6,553

Quantitative Information About Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements

The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements.

	Fair Value		Valuation Technique	Unobservable Inputs	Weighted- Average
December 31, 2023
Collateral-dependent impaired loans	$	16,370	Estimated cash to be received pending resolution of bankruptcy proceedings	Estimated cost to sell		0	%
Asset retirement obligaions		361	Expected present value	Plugging and abandonment expense		0	%
December 31, 2022
Collateral-dependent impaired loans	$	6,553	Appraisals from comparable assets	Estimated cost to sell		20	%

Estimated Fair Value of Financial Instruments Not Recorded at Fair Value

The following table presents estimated fair values of the Company’s financial instruments not recorded at fair value at December 31, 2023 and December 31, 2022 (dollars in thousands):

	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3		Total
December 31, 2023
Financial Assets
Cash and due from banks	$	181,042	$	181,042	$	-	$	-	$	181,042
Interest-bearing time deposits in other banks		17,679		-		17,679		-		17,679
Loans, net of allowance		1,341,148		-		1,321,413		16,370		1,337,783
Loans held for sale		718		-		718		-		718
Nonmarketable equity securities		1,283		-		1,283		-		1,283
Interest receivable and other assets		35,878		-		19,211		16,667		35,878
Financial Liabilities
Deposits	$	1,591,391	$	-	$	1,590,295	$	-	$	1,590,295
Interest payable and other liabilities		9,647		-		8,335		1,312		9,647
December 31, 2022
Financial Assets
Cash and due from banks	$	109,115	$	109,115	$	-	$	-	$	109,115
Interest-bearing time deposits in other banks		5,474		-		5,474		-		5,474
Loans, net of allowance		1,255,722		-		1,245,825		6,553		1,252,378
Nonmarketable equity securities		1,209		-		1,209		-		1,209
Interest receivable		8,124		-		8,124		-		8,124
Financial Liabilities
Deposits	$	1,431,400	$	-	$	1,429,565	$	-	$	1,429,565
Interest payable		339		-		339		-		339