Schedule of fair value of assets measured at fair value on a recurring basis |
Information regarding the fair value of assets measured at fair value on a recurring basis is as follows: | | | | | | | | | | | | | | | Instruments | | Markets | | Other | | Significant | | | Measured | | for Identical | | Observable | | Unobservable | | | At Fair | | Assets | | Inputs | | Inputs | | | Value | | (Level 1) | | (Level 2) | | (Level 3) | March 31, 2025 | | | | | | | | | | | | | Assets | | | | | | | | | | | | | Securities available for sale | | | | | | | | | | | | | Obligations of U.S. Government sponsored agencies | | $ | 32,364 | | $ | — | | $ | 32,364 | | $ | — | Obligations of states and political subdivisions | | | 56,090 | | | — | | | 56,090 | | | — | Mortgage-backed securities | | | 60,784 | | | — | | | 60,784 | | | — | Corporate notes | | | 14,505 | | | — | | | 14,505 | | | — | Mortgage servicing rights | | | 13,544 | | | — | | | 13,544 | | | — | | | | | | | | | | | | | | December 31, 2024 | | | | | | | | | | | | | Assets | | | | | | | | | | | | | Securities available for sale | | | | | | | | | | | | | U.S. Treasury securities | | $ | 99,656 | | $ | 99,656 | | $ | — | | $ | — | Obligations of U.S. Government sponsored agencies | | | 24,741 | | | — | | | 24,741 | | | — | Obligations of states and political subdivisions | | | 56,357 | | | — | | | 56,357 | | | — | Mortgage-backed securities | | | 27,993 | | | — | | | 27,993 | | | — | Corporate notes | | | 14,314 | | | — | | | 14,314 | | | — | Mortgage servicing rights | | | 13,369 | | | — | | | 13,369 | | | — |
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Schedule of fair value of assets measured on a non-recurring basis |
Information regarding the fair value of assets measured at fair value on a non-recurring basis is as follows: | | | | | | | | | | | | | | | | | | Quoted Prices | | | | | | | | | | | | In Active | | Significant | | | | | | Assets | | Markets | | Other | | Significant | | | Measured | | for Identical | | Observable | | Unobservable | | | At Fair | | Assets | | Inputs | | Inputs | | | Value | | (Level 1) | | (Level 2) | | (Level 3) | March 31, 2025 | | | | | | | | | | | | | OREO | | $ | 741 | | $ | — | | $ | — | | $ | 741 | Loans individually evaluated, net of reserve | | | 5,906 | | | — | | | — | | | 5,906 | | | $ | 6,647 | | $ | — | | $ | — | | $ | 6,647 | | | | | | | | | | | | | | December 31, 2024 | | | | | | | | | | | | | OREO | | $ | 741 | | $ | — | | $ | — | | $ | 741 | Loans individually evaluated, net of reserve | | | 6,194 | | | — | | | — | | | 6,194 | | | $ | 6,935 | | $ | — | | $ | — | | $ | 6,935 |
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Schedule of carrying value and estimated fair value of financial instruments |
The carrying value and estimated fair value of financial instruments not measured and reported at fair value on a recurring or non-recurring basis at March 31, 2025 and December 31, 2024 are as follows: | | | | | | | | | | | | | | | | | | Carrying | | | | | | | | | | | | | March 31, 2025 | | amount | | Level 1 | | Level 2 | | Level 3 | | Total | | | | | | | | | | | | | | | | | Financial assets: | | | | | | | | | | | | | | | | Cash and cash equivalents | | $ | 300,865 | | $ | 300,865 | | $ | — | | $ | — | | $ | 300,865 | Securities held to maturity | | | 110,241 | | | 106,982 | | | 3,195 | | | — | | | 110,177 | Loans held for sale | | | 2,676 | | | — | | | 2,676 | | | — | | | 2,676 | Loans, net | | | 3,504,321 | | | — | | | — | | | 3,346,003 | | | 3,346,003 | Other investments | | | 23,161 | | | — | | | — | | | 23,161 | | | 23,161 | Financial liabilities: | | | | | | | | | | | | | | | | Deposits | | $ | 3,674,218 | | $ | — | | $ | — | | $ | 3,407,535 | | $ | 3,407,535 | Notes payable | | | 134,890 | | | — | | | 134,890 | | | — | | | 134,890 | Subordinated notes | | | 12,000 | | | — | | | 12,000 | | | — | | | 12,000 |
| | | | | | | | | | | | | | | | | | Carrying | | | | | | | | | | | | | December 31, 2024 | | amount | | Level 1 | | Level 2 | | Level 3 | | Total | Financial assets: | | | | | | | | | | | | | | | | Cash and cash equivalents | | $ | 261,332 | | $ | 261,332 | | $ | — | | $ | — | | $ | 261,332 | Securities held to maturity | | | 110,756 | | | 106,229 | | | 3,195 | | | — | | | 109,424 | Loans held for sale | | | 3,088 | | | — | | | 3,088 | | | — | | | 3,088 | Loans, net | | | 3,473,017 | | | — | | | — | | | 3,285,498 | | | 3,285,498 | Other investments | | | 22,643 | | | — | | | — | | | 22,643 | | | 22,643 | Financial liabilities: | | | | | | | | | | | | | | | | Deposits | | $ | 3,661,073 | | $ | — | | $ | — | | $ | 3,388,650 | | $ | 3,388,650 | Notes payable | | | 135,372 | | | — | | | 135,372 | | | — | | | 135,372 | Subordinated notes | | | 12,000 | | | — | | | 12,000 | | | — | | | 12,000 |
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