FAIR VALUE (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| FAIR VALUE |
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| Schedule of changes in asset subject to fair value measurement by Level |
| | | | | | | | | | | | | | | | | | | | | | | | Fair | (dollars in thousands) | | Level 1 | | Level 2 | | Level 3 | | Value | June 30, 2025 | | | | | | | | | | | | | Recurring: | | | | | | | | | | | | | Securities available for sale | | | | | | | | | | | | | State and municipal | | $ | 10,521 | | $ | 20,134 | | $ | — | | $ | 30,655 | Mortgage-backed | | | 3,129 | | | 69,440 | | | — | | | 72,569 | Corporate | | | — | | | 1,342 | | | — | | | 1,342 | | | | | | | | | | | | | | Non-recurring: | | | | | | | | | | | | | Impaired loans | | | — | | | — | | | 2,418 | | | 2,418 | | | $ | 13,650 | | $ | 90,916 | | $ | 2,418 | | $ | 106,984 | December 31, 2024 | | | | | | | | | | | | | Recurring: | | | | | | | | | | | | | Securities available for sale | | | | | | | | | | | | | State and municipal | | $ | 11,182 | | $ | 21,229 | | $ | — | | $ | 32,411 | Mortgage-backed | | | 3,006 | | | 71,191 | | | — | | | 74,197 | Corporate | | | — | | | 1,341 | | | — | | | 1,341 | | | | | | | | | | | | | | Non-recurring: | | | | | | | | | | | | | Impaired loans | | | — | | | — | | | 994 | | | 994 | | | $ | 14,188 | | $ | 93,761 | | $ | 994 | | $ | 108,943 |
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| Schedule of estimated fair values of financial instruments |
| | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | (dollars in thousands) | | Carrying | | Fair | | Carrying | | Fair | | | Amount | | Value | | Amount | | Value | Financial assets: | | | | | | | | | | | | | Cash and due from banks | | $ | 1,677 | | $ | 1,677 | | $ | 2,012 | | $ | 2,012 | Interest-bearing deposits in other financial institutions | | | 10,991 | | | 10,991 | | | 22,134 | | | 22,134 | Federal funds sold | | | — | | | — | | | 318 | | | 318 | Investment securities available for sale | | | 104,566 | | | 104,566 | | | 107,949 | | | 107,949 | Investments in restricted stock | | | 869 | | | 869 | | | 1,671 | | | 1,671 | Ground rents | | | 118 | | | 118 | | | 123 | | | 123 | Loans, less allowance for credit losses | | | 210,775 | | | 202,439 | | | 202,380 | | | 191,685 | Accrued interest receivable | | | 1,206 | | | 1,206 | | | 1,345 | | | 1,345 | Cash value of life insurance | | | 8,921 | | | 8,921 | | | 8,834 | | | 8,834 | | | | | | | | | | | | | | Financial liabilities: | | | | | | | | | | | | | Deposits | | | 317,316 | | | 273,510 | | | 309,189 | | | 260,368 | Short-term borrowings | | | 13,000 | | | 13,000 | | | 30,000 | | | 30,053 | Accrued interest payable | | | 75 | | | 75 | | | 153 | | | 153 | Unrecognized financial instruments: | | | | | | | | | | | | | Commitments to extend credit | | | 37,021 | | | 37,021 | | | 31,332 | | | 31,332 | Standby letters of credit | | | 255 | | | 255 | | | 255 | | | 255 |
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| Schedule of fair value hierarchy of financial instruments |
| | | | | | | | | | | | | | | | (dollars in thousands) | | | | | | | | | | | | | | | | Carrying | | Fair | | | | | | | | | | June 30, 2025 | | Amount | | Value | | Level 1 | | Level 2 | | Level 3 | | | | | | | | | | | | | | | | | Financial instruments - Assets | | | | | | | | | | | | | | | | Cash and cash equivalents | | $ | 12,668 | | $ | 12,668 | | $ | 12,668 | | $ | — | | $ | — | Loans receivable, net | | | 210,775 | | | 202,439 | | | — | | | — | | | 202,439 | Cash value of life insurance | | | 8,921 | | | 8,921 | | | — | | | 8,921 | | | — | Financial instruments - Liabilities | | | | | | | | | | | | | | | | Deposits | | | 317,316 | | | 273,510 | | | 24,690 | | | 248,820 | | | — | Short-term debt | | | 13,000 | | | 13,000 | | | — | | | 13,000 | | | — |
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