Fair Value of Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value Estimates of Financial Instruments

Fair value estimates of the Company’s financial instruments as of June 30, 2026 and December 31, 2025, including methods and assumptions utilized, are set forth below:

		amount				Level 1				Level 2				Level 3				Total
		As of June 30, 2026
		Carrying
		amount				Level 1				Level 2				Level 3				Total
Financial assets:
Cash and cash equivalents		$	26,277			$	26,277			$	-			$	-			$	26,277
Interest-bearing deposits at other banks			5,935				-				5,935				-				5,935
Investment securities available-for-sale			340,808				43,478				297,330				-				340,808
Investment securities held-to-maturity			3,847				-				3,550				-				3,550
Bank stocks, at cost			8,079				n/a				n/a				n/a				n/a
Loans, net			1,089,705				-				-				1,074,508				1,074,508
Loans held for sale			3,740				-				3,740				-				3,740
Mortgage servicing rights			3,336				-				9,295				-				9,295
Accrued interest receivable			6,544				171				2,008				4,365				6,544
Derivative financial instruments			320				-				320				-				320

Financial liabilities:
Non-maturity deposits		$	(1,127,587	)		$	(1,127,587	)		$	-			$	-			$	(1,127,587	)
Certificates of deposit			(177,401	)			-				(156,407	)			-				(156,407	)
FHLB and other borrowings			(83,415	)			-				(83,409	)			-				(83,409	)
Subordinated debentures			(21,651	)			-				(21,670	)			-				(21,670	)
Repurchase agreements			(1,599	)			-				(1,599	)			-				(1,599	)
Accrued interest payable			(1,402	)			-				(1,402	)			-				(1,402	)

		amount				Level 1				Level 2				Level 3				Total
		As of December 31, 2025
		Carrying
		amount				Level 1				Level 2				Level 3				Total
Financial assets:
Cash and cash equivalents		$	20,982			$	20,982			$	-			$	-			$	20,982
Interest-bearing deposits at other banks			3,218				-				3,218				-				3,218
Investment securities available-for-sale			348,157				53,183				294,974				-				348,157
Investment securities held-to-maturity			3,789				-				3,477				-				3,477
Bank stocks, at cost			5,756				n/a				n/a				n/a				n/a
Loans, net			1,098,393				-				-				1,103,265				1,103,265
Loans held for sale			5,141				-				5,141				-				5,141
Mortgage servicing rights			3,189				-				8,586				-				8,586
Accrued interest receivable			7,076				184				1,981				4,911				7,076
Derivative financial instruments			239				-				239				-				239

Financial liabilities:
Non-maturity deposits		$	(1,167,088	)		$	(1,167,088	)		$	-			$	-			$	(1,167,088	)
Certificates of deposit			(221,766	)			-				(221,202	)			-				(221,202	)
FHLB and other borrowings			(10,567	)			-				(10,553	)			-				(10,553	)
Subordinated debentures			(21,651	)			-				(19,311	)			-				(19,311	)
Repurchase agreements			(1,501	)			-				(1,501	)			-				(1,501	)
Accrued interest payable			(1,870	)			-				(1,870	)			-				(1,870	)
Derivative financial instruments			(19	)							(19	)							(19	)

Schedule of Fair Value Instruments Measured On Recurring Basis

The following tables represent the Company’s financial instruments that are measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025, allocated to the appropriate fair value hierarchy:

		Total				Level 1				Level 2				Level 3
(Dollars in thousands)						As of June 30, 2026
						Fair value hierarchy
		Total				Level 1				Level 2				Level 3
Assets:
Available-for-sale investment securities:
U. S. treasury securities		$	43,478			$	43,478			$	-			$	-
Municipal obligations, tax exempt			75,143				-				75,143				-
Municipal obligations, taxable			97,718				-				97,718				-
Agency mortgage-backed securities			124,469				-				124,469				-
Loans held for sale			3,740				-				3,740				-
Derivative financial instruments			320				-				320				-

		Total				Level 1				Level 2				Level 3
						As of December 31, 2025
						Fair value hierarchy
		Total				Level 1				Level 2				Level 3
Assets:
Available-for-sale investment securities:
U. S. treasury securities		$	53,183			$	53,183			$	-			$	-
Municipal obligations, tax exempt			87,809				-				87,809				-
Municipal obligations, taxable			90,603				-				90,603				-
Agency mortgage-backed securities			116,562				-				116,562				-
Loans held for sale			5,141				-				5,141				-
Derivative financial instruments			239				-				239				-
Liabilities:
Derivative financial instruments			(19	)			-				(19	)			-

Schedule of Fair Value Contractual Balance and Gain Loss On Loans Held for Sale

The aggregate fair value, contractual balance (including accrued interest), and gains on loans held for sale as of June 30, 2026 and December 31, 2025 were as follows:

		As of				As of
		June 30,				December 31,
(Dollars in thousands)		2026				2025
Aggregate fair value		$	3,740			$	5,141
Contractual balance			3,707				5,033
Gain		$	33			$	108

Schedule of Gains from Changes in Fair Value of Derivative Financial Instruments

(Dollars in thousands)		2026				2025				2026				2025
		Three months ended								Six months ended
		June 30,								June 30,
(Dollars in thousands)		2026				2025				2026				2025
Total change in fair value		$	(101	)		$	(101	)		$	100			$	18

Schedule of Fair Value Measurements On Nonrecurring, Valuation Techniques

The following table presents quantitative information about Level 3 fair value measurements measured at fair value on a nonrecurring basis as of June 30, 2026 and December 31, 2025:

(Dollars in thousands)
		Fair value				Valuation technique		Unobservable inputs		Range
As of June 30, 2026
Individual evaluated loans:
One-to-four family residential real estate		$	531			Sales comparison		Adjustment to appraised value			7%-10	%
Commercial real estate			123			Sales comparison		Adjustment to comparable sales			0%-10	%
Commercial			882			Sales comparison		Adjustment to comparable value			0%-25	%

As of December 31, 2025
Individual evaluated loans:
One-to-four family residential real estate		$	356			Sales comparison		Adjustment to appraised value			0%-7	%
Commercial real estate			134			Sales comparison		Adjustment to comparable sales			0%-25	%
Commercial loans			1,213			Sales comparison		Adjustment to comparable sales			0%-50	%