Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy for Assets Measured at Fair Value

The following table presents the Company’s approximate fair value hierarchy for assets measured at fair value as of March 31:


		2026
						Fair Value Measurements at
						Reporting Date Using
		Total				(Level 1)				(Level 2)				(Level 3)
Assets and liabilities measured at fair value on a recurring basis:
Assets:
Debt securities available for sale		$	154,749			$	15,532			$	139,217				-
Mortgage loans held for sale		$	17,810				-			$	17,810				-
Derivative assets		$	438				-			$	438				-
Forward contracts		$	196				-			$	196				-

Assets measured at fair value on a non-recurring basis:
Assets:
Collateral-dependent loans, net of specific reserves		$	5,623				-				-			$	5,623
Foreclosed assets		$	101				-				-			$	101

(15)	Fair Value Measurements (continued):

The following table presents the Company’s approximate fair value hierarchy for assets measured at fair value as of December 31:


		2025
						Fair Value Measurements at
						Reporting Date Using
		Total				(Level 1)				(Level 2)				(Level 3)
Assets measured at fair value on a recurring basis:
Assets:
Debt securities available for sale		$	154,207			$	17,485			$	136,722				-
Mortgage loans held for sale		$	12,688				-			$	12,688				-
Derivative assets		$	352				-			$	352				-
Liabilities:
Forward contracts		$	60				-			$	60				-

Assets measured at fair value on a non-recurring basis:
Assets:
Collateral-dependent loans, net of specific reserves		$	6,153				-				-			$	6,153
Foreclosed assets		$	101				-				-			$	101

Schedule of Carrying Amounts and Estimated Fair Values

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments as of March 31:


		2026
						Fair Value Measurements at
		Carrying				Reporting Date Using
		Amount				(Level 1)				(Level 2)				(Level 3)			Total
Financial assets:
Cash and cash equivalents		$	50,020			$	50,020										$	50,020
Securities available for sale			154,749				15,532				139,217							154,749
Federal Home Loan Bank stock			3,459												3,459			3,459
Mortgage loans held for sale			17,810								17,810							17,810
Loans, net			1,279,256												1,267,782			1,267,782
Accrued interest receivable			8,978				8,978											8,978
Mortgage servicing rights			550								4,593							4,593
Derivative assets			438								438							438
Forward commitments			196								196							196

Financial liabilities:
Deposits		$	1,309,038			$	920,118							$	389,175		$	1,309,293
FHLB advances and other borrowings			55,917												55,917			55,917
Securities sold under agreements to repurchase			21,846				21,846											21,846
Accrued interest payable			2,925				2,925											2,925
Forward commitments

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments as of December 31:


		2025
										Fair Value Measurements at
		Carrying								Reporting Date Using
		Amount				(Level 1)				(Level 2)				(Level 3)			Total
Financial assets:
Cash and cash equivalents		$	49,639			$	49,639										$	49,639
Securities available for sale			154,207				17,485				136,722							154,207
Federal Home Loan Bank stock			3,572												3,572			3,572
Mortgage loans held for sale			12,688								12,688							12,688
Loans, net			1,300,302												1,283,910			1,283,910
Accrued interest receivable			8,222				8,222											8,222
Mortgage servicing rights			585								4,593							4,593
Derivative assets			352								352							352

Financial liabilities:
Deposits		$	1,303,923			$	891,827							$	412,629		$	1,304,456
FHLB advances and other borrowings			77,917												77,917			77,917
Securities sold under agreements to repurchase			23,105				23,105											23,105
Accrued interest payable			2,648				2,648											2,648
Forward commitments			61								61							61