Fair Value Measurements (Tables)

3 Months Ended

Sep. 30, 2023

Fair Value Measurements

Fair Value, Assets Measured on Recurring Basis

	Fair Value Measurements at September 30, 2023, Using:
			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets		Observable Inputs		Unobservable Inputs
(dollars in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
Obligations of state and political subdivisions	$	41,197	$	—	$	41,197	$	—
Corporate obligations		33,136		—		33,136		—
Asset backed securities		67,642		—		67,642		—
Other securities		2,642		—		2,642		—
MBS and CMOs		260,581		—		260,581		—

	Fair Value Measurements at June 30, 2023, Using:
			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets		Observable Inputs		Unobservable Inputs
(dollars in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
Obligations of state and political subdivisions	$	42,568	$	—	$	42,568	$	—
Corporate obligations		32,538		—		32,538		—
Asset backed securities		68,626		—		68,626		—
Other securities		3,570		—		3,570		—
MBS and CMOs		270,252		—		270,252		—

Fair Value Measurements, Nonrecurring

	Fair Value Measurements at September 30, 2023, Using:
			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets		Observable Inputs		Unobservable Inputs
(dollars in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
Foreclosed and repossessed assets held for sale	$	1,609	$	—	$	—	$	1,609

	Fair Value Measurements at June 30, 2023, Using:
			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets		Observable Inputs		Unobservable Inputs
(dollars in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
Foreclosed and repossessed assets held for sale	$	1,472	$	—	$	—	$	1,472

Losses Recognized on Assets Measured on a Nonrecurring Basis

	For the three months ended
(dollars in thousands)	September 30, 2023		September 30, 2022
Foreclosed and repossessed assets held for sale	$	—	$	34
Total gains (losses) on assets measured on a non-recurring basis	$	—	$	34

Fair Value Option, Disclosures

					Range
	Fair value at		Valuation	Unobservable	of		Weighted-average
(dollars in thousands)	September 30, 2023		technique	inputs	inputs applied		inputs applied
Nonrecurring Measurements
Foreclosed and repossessed assets	$	1,609	Third party appraisal	Marketability discount	0.0 - 5.6	%	1.1	%

					Range
	Fair value at		Valuation	Unobservable	of		Weighted-average
(dollars in thousands)	June 30, 2023		technique	inputs	inputs applied		inputs applied
Nonrecurring Measurements
Foreclosed and repossessed assets	$	1,472	Third party appraisal	Marketability discount	14.9 - 14.9	%	14.9	%

Schedule of Financial Instruments

	September 30, 2023
			Quoted Prices
			in Active				Significant
			Markets for		Significant Other		Unobservable
	Carrying		Identical Assets		Observable Inputs		Inputs
(dollars in thousands)	Amount		(Level 1)		(Level 2)		(Level 3)
Financial assets
Cash and cash equivalents	$	88,193	$	88,193	$	—	$	—
Interest-bearing time deposits		987		—		987		—
Stock in FHLB		10,900		—		10,900		—
Stock in Federal Reserve Bank of St. Louis		9,060		—		9,060		—
Loans receivable, net		3,650,557		—		—		3,408,166
Accrued interest receivable		23,642		—		23,642		—
Financial liabilities
Deposits		3,841,126		2,562,664		—		1,263,342
Advances from FHLB		114,026		—		111,439		—
Accrued interest payable		7,101		—		7,101		—
Subordinated debt		23,118		—		—		20,845
Unrecognized financial instruments (net of contract amount)
Commitments to originate loans		—		—		—		—
Letters of credit		—		—		—		—
Lines of credit		—		—		—		—

	June 30, 2023
			Quoted Prices
			in Active				Significant
			Markets for		Significant Other		Unobservable
	Carrying		Identical Assets		Observable Inputs		Inputs
(dollars in thousands)	Amount		(Level 1)		(Level 2)		(Level 3)
Financial assets
Cash and cash equivalents	$	53,979	$	53,979	$	—	$	—
Interest-bearing time deposits		1,242		—		1,242		—
Stock in FHLB		11,540		—		11,540		—
Stock in Federal Reserve Bank of St. Louis		9,061		—		9,061		—
Loans receivable, net		3,571,078		—		—		3,393,791
Accrued interest receivable		18,871		—		18,871		—
Financial liabilities
Deposits		3,725,540		2,661,479		—		1,053,650
Advances from FHLB		133,514		—		131,821		—
Accrued interest payable		4,723		—		4,723		—
Subordinated debt		23,105		—		—		20,318
Unrecognized financial instruments (net of contract amount)
Commitments to originate loans		—		—		—		—
Letters of credit		—		—		—		—
Lines of credit		—		—		—		—