| Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments |
The following tables reflect a comparison of carrying amounts and the estimated fair value of the financial instruments as of June 30, 2026 and December 31, 2025:
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June 30, 2026 |
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Carrying
Value |
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Estimated
Fair Value |
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Level 1 |
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Level 2 |
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Level 3 |
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(dollars in thousands) |
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FINANCIAL ASSETS |
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Cash and cash equivalents |
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$ |
91,712 |
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$ |
91,712 |
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$ |
91,712 |
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$ |
— |
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$ |
— |
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Securities available for sale |
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359,771 |
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359,771 |
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23,776 |
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335,995 |
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— |
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Securities held to maturity, net |
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21,880 |
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20,373 |
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— |
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10,603 |
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9,770 |
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Equity securities |
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878 |
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878 |
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878 |
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— |
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— |
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Loans held for investment, net |
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686,245 |
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662,501 |
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— |
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— |
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662,501 |
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Loans held for sale |
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7,820 |
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7,820 |
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— |
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7,820 |
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— |
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Loan servicing assets |
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3,647 |
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7,308 |
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— |
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7,308 |
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— |
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Mortgage banking derivatives |
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883 |
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883 |
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— |
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108 |
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775 |
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Accrued interest receivable |
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4,353 |
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4,353 |
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— |
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— |
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4,353 |
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FINANCIAL LIABILITIES |
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Deposits |
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$ |
1,099,066 |
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1,098,432 |
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— |
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1,098,432 |
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— |
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Short-term borrowings |
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228 |
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228 |
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— |
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228 |
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— |
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Long-term borrowings |
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30,086 |
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27,697 |
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— |
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— |
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27,697 |
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Mortgage banking derivatives |
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26 |
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26 |
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— |
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26 |
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— |
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Accrued interest payable |
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475 |
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475 |
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— |
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— |
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475 |
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December 31, 2025 |
|
Carrying
Value |
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Estimated
Fair Value |
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Level 1 |
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Level 2 |
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Level 3 |
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(dollars in thousands) |
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FINANCIAL ASSETS |
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Cash and cash equivalents |
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$ |
73,329 |
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$ |
73,329 |
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$ |
73,329 |
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$ |
— |
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$ |
— |
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Securities available for sale |
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357,740 |
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357,740 |
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23,997 |
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333,743 |
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— |
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Securities held to maturity, net |
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21,947 |
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20,208 |
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— |
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10,559 |
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9,649 |
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Equity securities |
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303 |
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303 |
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303 |
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— |
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— |
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Loans held for investment, net |
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683,142 |
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666,337 |
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— |
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— |
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666,337 |
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Loans held for sale |
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9,019 |
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9,019 |
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— |
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9,019 |
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— |
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Loan servicing assets |
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3,702 |
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7,413 |
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— |
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7,413 |
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— |
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Mortgage banking derivatives |
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883 |
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883 |
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— |
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38 |
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|
845 |
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Accrued interest receivable |
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4,428 |
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4,428 |
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— |
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— |
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4,428 |
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FINANCIAL LIABILITIES |
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Deposits |
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$ |
1,080,781 |
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$ |
1,080,610 |
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$ |
— |
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$ |
1,080,610 |
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$ |
— |
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Short-term borrowings |
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25 |
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25 |
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— |
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25 |
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— |
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Long-term borrowings |
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29,048 |
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27,369 |
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— |
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— |
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27,369 |
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Mortgage banking derivatives |
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58 |
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58 |
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— |
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58 |
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— |
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Accrued interest payable |
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453 |
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453 |
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— |
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— |
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453 |
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