| Schedule of Fair Value of Assets Measured on Recurring Basis |
The following table presents the assets reported on the Consolidated Balance Sheets at their fair value on a recurring basis as of March 31, 2026 and December 31, 2025 by level within the fair value hierarchy. No liabilities are carried at fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Equity securities with readily determinable values and U.S. Treasury Notes are valued at the closing price reported on the active market on which the individual securities or identical securities are traded. Obligations of U.S. government agencies, mortgage-backed securities, asset-backed securities, obligations of states and political subdivisions and corporate bonds are valued at observable market data for similar assets. Equity securities without readily determinable values are carried at amortized cost adjusted for impairment and observable price changes and are not included in the table below.
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(Dollars in thousands) |
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Level I |
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Level II |
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Level III |
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Total |
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March 31, 2026 |
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Assets: |
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Securities available-for-sale |
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|
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U.S. Treasury securities |
|
$ |
2,005 |
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|
$ |
4,005 |
|
|
$ |
— |
|
|
$ |
6,010 |
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U.S. Government agencies |
|
|
— |
|
|
|
2,924 |
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|
|
— |
|
|
|
2,924 |
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Mortgage-backed securities of government agencies |
|
|
1,937 |
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|
|
92,645 |
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|
|
— |
|
|
|
94,582 |
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Asset-backed securities of government agencies |
|
|
— |
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|
|
334 |
|
|
|
— |
|
|
|
334 |
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State and political subdivisions |
|
|
— |
|
|
|
11,161 |
|
|
|
— |
|
|
|
11,161 |
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Corporate bonds |
|
|
— |
|
|
|
13,820 |
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|
|
— |
|
|
|
13,820 |
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Total available-for-sale securities |
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$ |
3,942 |
|
|
$ |
124,889 |
|
|
$ |
— |
|
|
$ |
128,831 |
|
Equity securities |
|
$ |
256 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
256 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
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|
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|
|
|
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Assets: |
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|
|
|
|
|
|
|
|
|
|
|
Securities available-for-sale |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury securities |
|
$ |
— |
|
|
$ |
5,020 |
|
|
$ |
— |
|
|
$ |
5,020 |
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U.S. Government agencies |
|
|
— |
|
|
|
2,908 |
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|
|
— |
|
|
|
2,908 |
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Mortgage-backed securities of government agencies |
|
|
14,940 |
|
|
|
83,969 |
|
|
|
— |
|
|
|
98,909 |
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Asset-backed securities of government agencies |
|
|
— |
|
|
|
347 |
|
|
|
— |
|
|
|
347 |
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State and political subdivisions |
|
|
— |
|
|
|
11,227 |
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|
|
— |
|
|
|
11,227 |
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Corporate bonds |
|
|
— |
|
|
|
13,806 |
|
|
|
— |
|
|
|
13,806 |
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Total available-for-sale securities |
|
$ |
14,940 |
|
|
$ |
117,277 |
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|
$ |
— |
|
|
$ |
132,217 |
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Equity securities |
|
$ |
233 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
233 |
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|
| Schedule of Assets Measured on Nonrecurring Basis |
The following table presents the assets measured on a nonrecurring basis on the consolidated balance sheet at their fair value as of March 31, 2026 and December 31, 2025, by level within the fair value hierarchy.
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|
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(Dollars in thousands) |
|
Level I |
|
|
Level II |
|
|
Level III |
|
|
Total |
|
March 31, 2026 |
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|
|
|
|
|
|
|
|
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Individually evaluated collateral dependent loans recorded at fair value: |
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|
|
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Commercial and industrial |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
7,408 |
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|
$ |
7,408 |
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Commercial real estate |
|
|
— |
|
|
|
— |
|
|
|
20,440 |
|
|
|
20,440 |
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Total individually evaluated collateral dependent loans recorded at fair value: |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
27,848 |
|
|
$ |
27,848 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
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Individually evaluated collateral dependent loans recorded at fair value: |
|
|
|
|
|
|
|
|
|
|
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Commercial and industrial |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
7,489 |
|
|
$ |
7,489 |
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Commercial real estate |
|
|
— |
|
|
|
— |
|
|
|
20,446 |
|
|
|
20,446 |
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Total individually evaluated collateral dependent loans recorded at fair value: |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
27,935 |
|
|
$ |
27,935 |
|
|