v3.26.1
Disclosures About Fair Value of Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2026
Disclosures About Fair Value of Assets and Liabilities [Abstract]  
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis

The following tables present the fair value measurements of assets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fell at June 30, 2026, and at December 31, 2025.

 

($ in thousands)  Fair value at
June 30,
2026		   (Level 1)   (Level 2)   (Level 3) 
                 
U.S. Treasury and Government Agencies  $4,871   $
-
   $4,871   $
      -
 
Mortgage-backed securities   150,877    
-
    150,877    
-
 
State and political subdivisions   9,740    
-
    9,740    
-
 
Other corporate securities   13,538    
-
    13,538    
-
 
Interest rate contracts - assets   2,592    
-
    2,592    
-
 
Interest rate contracts - liabilities   (2,592)   
-
    (2,592)   
-
 
Forward contracts   (26)   (26)   
-
    
-
 
IRLCs   4    
-
    
-
    4 

 

($ in thousands)  Fair value at
December 31,
2025		   (Level 1)   (Level 2)   (Level 3) 
                 
U.S. Treasury and Government Agencies  $5,203   $
-
   $5,203   $
-
 
Mortgage-backed securities   159,952    
-
    159,952    
-
 
State and political subdivisions   9,849    
-
    9,849    
-
 
Other corporate securities   13,622    
-
    13,622    
-
 
Interest rate contracts - assets   1,465    
-
    1,465    
-
 
Interest rate contracts - liabilities   (1,465)   
-
    (1,465)   
-
 
Forward contracts   (30)   (30)   
-
    
-
 
IRLCs   15    
-
    
-
    15 
Schedule of Fair Value Measurements Recognized in the Accompanying Condensed Consolidated Balance Sheets Using Significant Unobservable

The following table reconciles the beginning and ending balances of recurring fair value measurements recognized in the accompanying condensed consolidated balance sheets using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2026, and 2025.

 

   for the Three Months Ended
June 30,		   for the Six Months Ended
June 30,		 
($ in thousands)  2026   2025   2026   2025 
Interest rate lock commitments                
Balance at beginning of period  $(90)  $(3)  $15   $(21)
Change in fair value   94    (185)   (11)   (167)
Balance at end of period  $4   $(188)  $4   $(188)
Schedule of Mortgage Servicing Rights These mortgage servicing rights are tested for impairment on a quarterly basis.
($ in thousands)  Fair value at
June 30,
2026		   (Level 1)   (Level 2)   (Level 3) 
                 
Collateral-dependent                
Individually evaluated loans  $345   $
   -
   $
   -
   $345 
Mortgage servicing rights   2,497    
-
    
-
    2,497 

 

($ in thousands)  Fair value at
December 31,
2025		   (Level 1)   (Level 2)   (Level 3) 
                 
Collateral-dependent                
Individually evaluated loans  $955   $
   -
   $
   -
   $955 
Mortgage servicing rights   5,813    
-
    
-
    5,813 
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements

The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements.

 

   Fair value at
June 30,		   Valuation     Range
(weighted-		 
($ in thousands)  2026   technique  Unobservable inputs  average) 
               
Collateral-dependent                
individually evaluated loans  $345   Market comparable properties  Comparability adjustments (%)   137%
Mortgage servicing rights   2,497   Discounted cash flow  Discount rate   10.38%
           Constant prepayment rate   5.85%
           P&I earnings credit   3.63%
           T&I earnings credit   3.75%
           Inflation for cost of servicing   2.50%
                 
IRLCs   4   Discounted cash flow  Loan closing rates   45% - 99%

 

   Fair value at
December 31,		   Valuation     Range
(weighted-		 
($ in thousands)  2025   technique  Unobservable inputs  average) 
               
Collateral-dependent              
individually evaluated loans  $955   Market comparable properties  Comparability adjustments (%)   1 - 19% (12)%
Mortgage servicing rights   5,813   Discounted cash flow  Discount rate   10.38%
           Constant prepayment rate   7.34%
           P&I earnings credit   3.73%
           T&I earnings credit   3.93%
           Inflation for cost of servicing   3.50%
                 
IRLCs   15   Discounted cash flow  Loan closing rates   43% - 99%
Schedule of Estimated Fair Values of the Company’s Other Financial Instruments The following table presents estimated fair values of the Company’s other financial instruments carried at other than fair value
($ in thousands)  Carrying   Fair   Fair value measurements using 
June 30, 2026  amount   value   (Level 1)   (Level 2)   (Level 3) 
Financial assets                    
Cash and due from banks  $138,152   $138,152   $138,152   $
-
   $
-
 
Interest bearing time deposits   2,455    2,455    
-
    2,455    
-
 
Loans held for sale   7,438    7,526    
-
    7,526    
-
 
Loans, net of allowance for credit losses   1,173,164    1,143,351    
-
    
-
    1,143,351 
Federal Reserve and FHLB Bank stock, at cost   5,502    5,502    
-
    5,502    
-
 
Interest receivable   5,455    5,455    
-
    5,455    
-
 
                          
Financial liabilities                         
Deposits  $1,391,147   $1,390,543   $1,106,207   $284,336   $
-
 
Repurchase agreements   6,732    6,732    
-
    6,732    
-
 
FHLB advances   22,500    22,419    
-
    22,419    
-
 
Trust preferred securities   10,310    9,299    
-
    9,299    
-
 
Subordinated debt, net of issuance costs   19,763    19,857    
-
    19,857    
-
 
Interest payable   2,470    2,470    
-
    2,470    
-
 

 

($ in thousands)  Carrying   Fair   Fair value measurements using 
December 31, 2025  amount   value   (Level 1)   (Level 2)   (Level 3) 
Financial assets                    
Cash and due from banks  $71,543   $71,543   $71,543   $
-
   $
-
 
Interest bearing time deposits   1,140    1,140    
-
    1,140    
-
 
Loans held for sale   1,761    1,779    
-
    1,779    
-
 
Loans, net of allowance for credit losses   1,164,477    1,127,003    
-
    
-
    1,127,003 
Federal Reserve and FHLB Bank stock, at cost   5,610    5,610    
-
    5,610    
-
 
Interest receivable   5,490    5,490    
-
    5,490    
-
 
                          
Financial liabilities                         
Deposits  $1,307,244   $1,307,177   $1,033,944   $273,233   $
-
 
Repurchase agreements   9,230    9,230    
-
    9,230    
-
 
FHLB advances   35,000    35,121    
-
    35,121    
-
 
Trust preferred securities   10,310    8,644    
-
    8,644    
-
 
Subordinated debt, net of issuance costs   19,739    19,051    
-
    19,051    
-
 
Interest payable   2,460    2,460    
-
    2,460    
-