| Fair Value, by Balance Sheet Grouping |
The Company’s estimated fair values of financial instruments are presented in the following table.
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March 31, 2026 |
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December 31, 2025 |
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Fair value |
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Carrying |
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Fair |
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Carrying |
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Fair |
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(dollars in thousands) |
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hierarchy |
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amount |
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value |
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amount |
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value |
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Financial assets |
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Cash and cash equivalents |
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Level 1 |
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$ |
74,577 |
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$ |
74,577 |
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$ |
55,705 |
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$ |
55,705 |
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Equity investment |
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Level 1 |
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406 |
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406 |
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404 |
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404 |
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Securities held to maturity |
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Level 2 |
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5,691 |
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5,047 |
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5,736 |
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5,102 |
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Securities held to available for sale |
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Level 2 |
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32,890 |
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32,890 |
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33,226 |
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33,226 |
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Federal Home Loan Bank of Atlanta stock |
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Level 2 |
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2,324 |
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2,324 |
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2,324 |
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2,324 |
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Loans receivable |
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Level 3 |
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729,209 |
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725,629 |
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748,484 |
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747,337 |
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Accrued interest receivable |
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Level 2 |
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2,990 |
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2,990 |
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3,149 |
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3,149 |
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Financial liabilities |
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Deposits with maturities |
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Level 3 |
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$ |
203,824 |
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$ |
203,724 |
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$ |
204,152 |
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$ |
204,873 |
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FHLB Borrowings |
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Level 2 |
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35,000 |
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35,000 |
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35,000 |
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35,000 |
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Accrued interest payable |
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Level 2 |
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909 |
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909 |
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432 |
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432 |
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