v3.26.1
FAIR VALUE MEASUREMENT (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, by Balance Sheet Grouping

The carrying amount and estimated fair value by classification Level of the Company’s financial instruments as of December 31, 2025 and December 31, 2024 are as follows: 

 

   December 31, 2025 
   Carrying   Fair Value 
(Dollars in thousands)  Amount   Total   Level 1   Level 2   Level 3 
Financial Assets:                         
Cash and short term investments  $161,060   $161,060   $161,060   $—   $— 
Available-for-sale securities   294,109    294,109    —    294,109    — 
Held-to-maturity securities   195,116    188,563    —    188,563    — 
Other investments, at cost   2,942    2,942    —    —    2,942 
Loans held for sale   10,737    10,737    —    10,737    — 
Derivative financial instruments   17    17         17      
Net loans receivable   1,297,213    1,271,551    —    —    1,271,551 
Accrued interest   6,247    6,247    6,247    —    — 
Financial liabilities:                         
Non-interest bearing demand  $467,265   $467,265   $—   $467,265   $— 
Interest bearing demand deposits and money market accounts   837,711    837,711    —    837,711    — 
Savings   102,768    102,768    —    102,768    — 
Time deposits   341,800    336,205    —    336,205    — 
Total deposits   1,749,544    1,743,949    —    1,743,949    — 
Short term borrowings   107,189    107,189    —    107,189    — 
Derivative financial instruments   36    36    —    36    — 
Junior subordinated debentures   14,964    13,445    —    13,445    — 
Accrued interest payable   3,416    3,416    3,416    —    — 

 

   December 31, 2024 
   Carrying   Fair Value 
(Dollars in thousands)  Amount   Total   Level 1   Level 2   Level 3 
Financial Assets:                         
Cash and short term investments  $149,828   $149,828   $149,828   $—   $— 
Available-for-sale securities   279,582    279,582    —    279,582    — 
Held-to-maturity securities   209,413    196,040    —    196,040    — 
Other investments, at cost   2,679    2,679    —    —    2,679 
Loans held for sale   9,662    9,662    —    9,662    — 
Derivative financial instruments   896    896    —    896      
Net loans receivable   1,207,407    1,160,013    —    —    1,160,013 
Accrued interest   6,084    6,084    6,084    —    — 
Financial liabilities:                         
Non-interest bearing demand  $462,717   $462,717   $—   $462,717   $— 
Interest bearing demand deposits and money market accounts   770,595    770,595    —    770,595    — 
Savings   113,928    113,928    —    113,928    — 
Time deposits   328,661    321,258    —    321,258    — 
Total deposits   1,675,901    1,668,498    —    1,668,498    — 
Short term borrowings   103,110    103,110    —    103,110    — 
Junior subordinated debentures   14,964    13,042    —    13,042    — 
Accrued interest payable   4,666    4,666    4,666    —    — 
Schedule of Fair Value, Assets Measured on Non-Recurring Basis

The following table summarizes quantitative disclosures about the fair value for each category of assets carried at fair value as of December 31, 2025 and December 31, 2024 that are measured on a recurring basis.

 

AVAILABLE-FOR-SALE:

(Dollars in thousands)

Description  December 31,
2025		   (Level 1)   (Level 2)   (Level 3) 
Available- for-sale securities                    
US Treasury Securities  $24,093   $—   $24,093   $— 
Government Sponsored Enterprises   2,256    —    2,256    — 
Mortgage-backed securities   252,185    —    252,185    — 
Small Business Administration pools   8,668    —    8,668    — 
Corporate and other securities   6,907    —    6,907    — 
Total Available-for-sale securities   294,109    —    294,109    — 
Derivative financial instruments   17    —    17    — 
Total  $294,126   $—   $294,126   $— 

 

(Dollars in thousands)

Description  December 31,
2024		   (Level 1)   (Level 2)   (Level 3) 
Available- for-sale securities                    
US Treasury Securities  $13,240   $—   $13,240   $— 
Government Sponsored Enterprises   2,110    —    2,110    — 
Mortgage-backed securities   244,204    —    244,204    — 
Small Business Administration pools   12,079    —    12,079    — 
Corporate and other securities   7,949    —    7,949    — 
Total Available-for-sale securities   279,582    —    279,582    — 
Derivative financial instruments   896    —    896    — 
Total  $280,478   $—   $280,478   $— 

The following table summarizes quantitative disclosures about the fair value for each category of liabilities carried at fair value as of December 31, 2025 that are required to be remeasured on a recurring basis. There were no liabilities carried at fair value as of December 31, 2024 that are measured on a recurring basis. 

(Dollars in thousands)

Description  December 31,
2025		   (Level 1)   (Level 2)   (Level 3) 
Derivative financial instruments  $36   $—   $36   $— 
Total  $36   $—   $36   $— 

 

The following tables summarize quantitative disclosures about the fair value for each category of assets carried at fair value as of December 31, 2025 and December 31, 2024 that are measured on a non-recurring basis. There were no liabilities carried at fair value and measured on a non-recurring basis at December 31, 2025 and 2024. 

 

 

(Dollars in thousands)                
Description  December 31,
2025		   (Level 1)   (Level 2)   (Level 3) 
Other real estate owned:                    
Mortgage-commercial  $168   $—   $—   $168 
Total other real estate owned   168    —    —    168 
Total  $168   $—   $—   $168 
                     
(Dollars in thousands)                
Description  December 31,
2024		   (Level 1)   (Level 2)   (Level 3) 
Other real estate owned:                    
Construction  $144   $—   $—   $144 
Mortgage-commercial   399    —    —    399 
Total other real estate owned   543    —    —    543 
Total  $543   $—   $—   $543 
Schedule of Fair Value, Assets Measured on Non-Recurring Basis

The following tables summarize quantitative disclosures about the fair value for each category of assets carried at fair value as of December 31, 2025 and December 31, 2024 that are measured on a non-recurring basis. There were no liabilities carried at fair value and measured on a non-recurring basis at December 31, 2025 and 2024. 

 

 

(Dollars in thousands)                
Description  December 31,
2025		   (Level 1)   (Level 2)   (Level 3) 
Other real estate owned:                    
Mortgage-commercial  $168   $—   $—   $168 
Total other real estate owned   168    —    —    168 
Total  $168   $—   $—   $168 
                     
(Dollars in thousands)                
Description  December 31,
2024		   (Level 1)   (Level 2)   (Level 3) 
Other real estate owned:                    
Construction  $144   $—   $—   $144 
Mortgage-commercial   399    —    —    399 
Total other real estate owned   543    —    —    543 
Total  $543   $—   $—   $543 
Schedule of Fair Value Measurement Inputs and Valuation Techniques

For Level 3 assets and liabilities measured at fair value on a non-recurring basis as of December 31, 2025 and December 31, 2024, the significant unobservable inputs used in the fair value measurements were as follows:

 

(Dollars in thousands)   Fair Value as
of December 31,
2025		     Valuation Technique     Significant
Observable
Inputs		     Significant
Unobservable
Inputs		  
OREO   $ 168       Appraisal Value/Comparison
Sales/Other estimates		       Appraisals and or sales of comparable properties       Appraisals discounted 6% to 16% for sales commissions and other holding cost  
                                 
(Dollars in thousands)   Fair Value as
of December 31,
2024		     Valuation Technique     Significant
Observable
Inputs		     Significant
Unobservable
Inputs		  
OREO   $ 543       Appraisal Value/Comparison
Sales/Other estimates		       Appraisals and or sales of comparable properties       Appraisals discounted 6% to 16% for sales commissions and other holding cost