v3.26.1
Fair Values of Financial Instruments
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Values of Financial Instruments Fair Values of Financial Instruments
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value:
Level 1    Quoted prices in active markets for identical assets or liabilities 
Level 2    Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities 
Level 3    Unobservable inputs supported by little or no market activity and are significant to the fair value of the assets or liabilities 
Recurring Measurements
The following tables present the fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2025 and 2024:

  Fair Value Measurements Using
Fair
Value		Quoted Prices
in Active
Markets for
Identical  
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
December 31, 2025
Available-for-sale securities
SBA Pools$3,124 $— $3,124 $— 
Federal agencies14,061 — 14,061 — 
State and municipal obligations131,818 — 130,339 1,479 
Mortgage-backed securities - GSE residential93,105 — 93,105 — 
Corporate obligations9,807 — 9,807 — 
 $251,915 $— $250,436 $1,479 
 Fair Value Measurements Using
Fair
Value		Quoted Prices
in Active
Markets for
Identical  
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
December 31, 2024
Available-for-sale securities
U.S. Treasury securities$3,161 $3,161 $— $— 
SBA Pools3,700 — 3,700 — 
Federal agencies13,334 — 13,334 — 
State and municipal obligations130,359 — 130,359 — 
Mortgage-backed securities - GSE residential98,313 — 98,313 — 
Corporate obligations9,325 — 9,325 — 
$258,192 $3,161 $255,031 $— 
Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a recurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. There have been no significant changes in the valuation techniques during the year ended December 31, 2025.
Available-for-Sale Securities
Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy, which includes equity securities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Level 2 securities include agency securities, obligations of state and political subdivisions, mortgage-backed securities, and SBA pools. Matrix pricing is a mathematical technique widely used in the banking industry to value investment securities without relying exclusively on quoted prices for specific investment securities but rather relying on the investment securities’ relationship to other benchmark quoted investment securities. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy.
During the year ended December 31, 2025, approximately $1.4 million of state and municipal obligations were transferred from Level 2 to Level 3 due to the absence of observable market inputs used in the valuation at year-end, requiring the use of significant unobservable inputs. Changes in fair value of approximately $154,000 were recognized in other comprehensive income, resulting in an aggregate Level 3 balance of approximately $1.5 million at December 31, 2025. There were no sales, settlements, or transfers out of Level 3 during the year.
Nonrecurring Measurements
As of December 31, 2025 and 2024, there were no assets or liabilities measured at fair value on a nonrecurring basis.
Fair Value of Financial Instruments
The following tables present estimated fair values of the Company’s financial instruments at December 31, 2025 and 2024.
Carrying
Value		Quoted Prices
in Active
Markets for
Identical  
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
December 31, 2025
Financial assets
Cash and cash equivalents$33,130 $33,130 $— $— 
Interest-earning time deposits2,070 — — — 
Available-for-sale securities251,915 — 250,436 1,479 
Held-to-maturity securities2,748 — 2,717 — 
Loans held for sale828 — — 828 
Loans and leases receivable, net1,176,813 — — 1,148,160 
FHLB stock13,907 — 13,907 — 
Interest receivable6,300 — 6,300 — 
Financial liabilities
Deposits1,114,893 — 1,117,026 — 
FHLB advances240,000 — 240,832 — 
Other borrowings12,000 — 12,041 — 
Interest payable3,457 — 3,457 — 

Carrying
Value		Quoted Prices
in Active
Markets for
Identical  
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
December 31, 2024
Financial assets
Cash and cash equivalents$21,757 $21,757 $— $— 
Interest-earning time deposits300 — 300 — 
Available-for-sale securities258,192 3,161 255,031 — 
Held-to-maturity securities3,498 — 3,421 — 
Loans held for sale1,093 — — 1,093 
Loans and leases receivable, net1,158,879 — — 1,099,274 
FHLB stock13,907 — 13,907 — 
Interest receivable6,030 — 6,030 — 
Financial liabilities
Deposits1,093,940 — 1,095,961 — 
FHLB advances265,000 — 264,162 — 
Interest payable4,832 — 4,832 — 
While these estimates of fair value are based on management’s judgment of the most appropriate factors, there is no assurance that were the Company to have disposed of such items at December 31, 2025 and 2024, the estimated fair values would necessarily have been achieved at that date, since market values may differ depending on various circumstances. The estimated fair values at December 31, 2025 and 2024 should not necessarily be considered to apply at subsequent dates.
The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying consolidated balance sheets at amounts other than fair value.
Cash and Cash Equivalents, Interest-Earning Time Deposits and Federal Home Loan Bank Stock – The carrying amount approximates fair value.
Held-to-Maturity Securities – Fair value is based on quoted market prices, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities.
Loans and Leases – The fair value of loans and leases is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Loans with similar characteristics were aggregated for purposes of the calculations. The carrying amount of accrued interest approximates its fair value.
Deposits – Deposits include demand deposits, savings accounts, NOW accounts and money market deposits. The carrying amount approximates fair value. The fair value of fixed-maturity time deposits is estimated using a discounted cash flow calculation that applies the rates currently offered for deposits of similar remaining maturities.
Interest Receivable and Interest Payable – The carrying amount approximates fair value.
Federal Home Loan Bank Advances – Rates currently available to the Company for borrowings with similar terms and remaining maturities are used to estimate the fair value of existing debt.