Peoples Bancorp of North Carolina (PEBK) 10-Q 6 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Cover [Abstract]
Entity Registrant Name	PEOPLES BANCORP OF NORTH CAROLINA, INC.
Entity Central Index Key	0001093672
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Entity Common Stock Shares Outstanding		5,457,646
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-27205
Entity Incorporation State Country Code	NC
Entity Tax Identification Number	56-2132396
Entity Address Address Line 1	518 West C Street
Entity Address City Or Town	Newton
Entity Address State Or Province	NC
Entity Address Postal Zip Code	28658
City Area Code	828
Local Phone Number	464-5620
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Consolidated Balance Sheets
Cash and due from banks	$ 31,909	$ 32,819
Interest-bearing deposits	50,926	49,556
Cash and cash equivalents	82,835	82,375
Investment securities available for sale	393,260	391,924
Other investments	2,779	2,874
Total securities	396,039	394,798
Mortgage loans held for sale	1,288	686
Loans	1,110,672	1,093,066
Less allowance for credit losses	(10,016)	(11,041)
Net loans	1,100,656	1,082,025
Premises and equipment, net	15,888	16,702
Cash surrender value of life insurance	18,365	18,134
Right of use lease asset	4,374	4,731
Accrued interest receivable and other assets	35,953	36,459
Total assets	1,655,398	1,635,910
Deposits:
Noninterest-bearing demand	415,977	432,687
Interest-bearing demand, MMDA & savings	710,446	620,244
Time, over $250,000	147,333	148,904
Other time	202,200	190,210
Total deposits	1,475,956	1,392,045
Securities sold under agreements to repurchase	18,824	86,715
Junior subordinated debentures	15,464	15,464
Lease liability	4,487	4,832
Accrued interest payable and other liabilities	16,355	15,838
Total liabilities	1,531,086	1,514,894
Shareholders' equity:
Preferred stock, no par value; authorized 5,000,000 shares; no shares issued and outstanding	0	0
Common stock, no par value; authorized 20,000,000 shares; issued and outstanding 5,457,646 shares at June 30, 2024 and 5,534,499 shares at December 31, 2023	48,678	50,625
Common stock held by deferred compensation trust, at cost: 166,247 shares at June 30, 2024 and 163,702 shares at December 31, 2023	1,980	1,910
Deferred compensation	1,980	1,910
Retained earnings	115,623	109,756
Accumulated other comprehensive loss	(39,989)	(39,365)
Total shareholders' equity	124,312	121,016
Total liabilities and shareholders' equity	$ 1,655,398	$ 1,635,910

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Shareholders' equity:
Preferred stock, par or stated value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares issued (in shares)	5,457,646	5,534,499
Common stock, shares outstanding (in shares)	5,457,646	5,534,499
Common Stock Held In Trust	166,247	163,702

Consolidated Statements of Earn

Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest income:
Interest and fees on loans	$ 15,571	$ 13,667	$ 30,709	$ 26,550
Interest on due from banks	725	517	1,632	900
Interest on investment securities:
U.S. Government sponsored enterprises	2,551	2,280	5,142	4,510
States and political subdivisions	695	696	1,390	1,558
Other	528	439	1,007	882
Total interest income	20,070	17,599	39,880	34,400
Interest expense:
NOW, MMDA & savings deposits	2,438	1,648	4,498	3,136
Time deposits	3,628	1,638	7,309	2,154
Junior subordinated debentures	283	259	567	507
Other expenses	305	283	786	494
Total interest expense	6,654	3,828	13,160	6,291
Net interest income	13,416	13,771	26,720	28,109
Provision for (recovery of) credit losses	(468)	375	(377)	599
Net interest income after provision for loan losses	13,884	13,396	27,097	27,510
Non-interest income:
Service charges	1,346	1,328	2,686	2,669
Other service charges and fees	180	163	364	345
Loss on sale of securities, net	0	0	0	(2,488)
Mortgage banking income	74	39	125	132
Insurance and brokerage commissions	219	206	465	434
Appraisal management fee income	3,181	2,590	5,595	4,684
Miscellaneous	2,521	2,077	4,324	4,238
Total non-interest income	7,521	6,403	13,559	10,014
Non-interest expense:
Salaries and employee benefits	6,827	6,286	13,807	12,786
Occupancy	2,105	1,981	4,216	3,995
Professional fees	635	450	1,027	849
Advertising	95	156	377	345
Debit card expense	425	282	737	555
FDIC insurance	192	260	383	370
Appraisal management fee expense	2,523	2,049	4,427	3,699
Miscellaneous	2,329	2,155	4,673	4,722
Total non-interest expense	15,131	13,619	29,647	27,321
Earnings before income taxes	6,274	6,180	11,009	10,203
Income tax expense	1,386	1,372	2,173	2,223
Net earnings	$ 4,888	$ 4,808	$ 8,836	$ 7,980
Basic net earnings per share	$ 0.93	$ 0.88	$ 1.67	$ 1.46
Diluted net earnings per share	0.89	0.85	1.61	1.41
Cash dividends declared per share	$ 0.19	$ 0.19	$ 0.54	$ 0.53

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
Net earnings	$ 4,888	$ 4,808	$ 8,836	$ 7,980
Other comprehensive income (loss):
Unrealized holding gains on securities available for sale	882	6,905	811	(2,515)
Reclassification adjustment for losses on securities available for sale included in net earnings	0	0	0	2,488
Total other comprehensive income, before income taxes	(882)	(6,905)	(811)	5,003
Income tax expense (benefit) related to other comprehensive income (loss):
Unrealized holding gain (losses) on securities available for sale	203	1,586	187	(577)
Reclassification adjustment for losses on securities available for sale included in net earnings	0	0	0	572
Total income tax expense (benefit) related to other comprehensive income (loss)	(203)	(1,586)	(187)	1,149
Total other comprehensive income (loss), net of tax	(679)	(5,319)	(624)	3,854
Total comprehensive income (loss)	$ 4,209	$ (511)	$ 8,212	$ 11,834

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Deferred Compensation	Common Stock Held By Deferred Compensation Trust	Accumulated Other Comprehensive Loss
Balance, amount at Dec. 31, 2022	$ 105,195	$ 52,636	$ 100,156	$ 2,181	$ (2,181)	$ (47,597)
Balance, shares at Dec. 31, 2022		5,636,830
Adoption of new accounting standard, net of tax	(838)	$ 0	(838)	0	0	0
Cash dividends declared on common stock	(1,925)	$ 0	(1,925)	0	0	0
Restricted stock units issued shares		191
Restricted stock units issued amount	6	$ 6	0	0	0	0
Equity incentive plan, net	0	0	0	(344)	344	0
Net earnings	3,172	0	3,172	0	0	0
Change in accumulated other comprehensive income, net of tax	9,173	$ 0	0	0	0	9,173
Balance, shares at Mar. 31, 2023		5,637,021
Balance, amount at Mar. 31, 2023	114,783	$ 52,642	100,565	1,837	(1,837)	(38,424)
Balance, amount at Dec. 31, 2022	105,195	$ 52,636	100,156	2,181	(2,181)	(47,597)
Balance, shares at Dec. 31, 2022		5,636,830
Net earnings	7,980
Change in accumulated other comprehensive income, net of tax	3,854
Balance, shares at Jun. 30, 2023		5,590,799
Balance, amount at Jun. 30, 2023	112,370	$ 51,809	104,304	1,967	(1,967)	(43,743)
Balance, amount at Mar. 31, 2023	114,783	$ 52,642	100,565	1,837	(1,837)	(38,424)
Balance, shares at Mar. 31, 2023		5,637,021
Cash dividends declared on common stock	(1,069)	$ 0	(1,069)	0	0	0
Equity incentive plan, net	0	0	0	130	(130)	0
Net earnings	4,808	0	4,808	0	0	0
Change in accumulated other comprehensive income, net of tax	(5,319)	$ 0	0	0	0	(5,319)
Common stock repurchase shares		(46,222)
Common stock repurchase amount	(833)	$ (833)	0	0	0	0
Balance, shares at Jun. 30, 2023		5,590,799
Balance, amount at Jun. 30, 2023	112,370	$ 51,809	104,304	1,967	(1,967)	(43,743)
Balance, amount at Dec. 31, 2023	121,016	$ 50,625	109,756	1,910	(1,910)	(39,365)
Balance, shares at Dec. 31, 2023		5,534,499
Cash dividends declared on common stock	(1,929)	$ 0	(1,929)	0	0	0
Equity incentive plan, net	0	0	0	33	(33)	0
Net earnings	3,948	0	3,948	0	0	0
Change in accumulated other comprehensive income, net of tax	55	$ 0	0	0	0	55
Common stock repurchase shares		(78,500)
Common stock repurchase amount	(1,998)	$ (1,998)	0	0	0	0
Balance, shares at Mar. 31, 2024		5,455,999
Balance, amount at Mar. 31, 2024	121,092	$ 48,627	111,775	1,943	(1,943)	(39,310)
Balance, amount at Dec. 31, 2023	121,016	$ 50,625	109,756	1,910	(1,910)	(39,365)
Balance, shares at Dec. 31, 2023		5,534,499
Net earnings	8,836
Change in accumulated other comprehensive income, net of tax	(624)
Balance, shares at Jun. 30, 2024		5,457,646
Balance, amount at Jun. 30, 2024	124,312	$ 48,678	115,623	1,980	(1,980)	(39,989)
Balance, amount at Mar. 31, 2024	121,092	$ 48,627	111,775	1,943	(1,943)	(39,310)
Balance, shares at Mar. 31, 2024		5,455,999
Cash dividends declared on common stock	(1,040)	$ 0	(1,040)	0	0	0
Restricted stock units issued shares		1,647
Restricted stock units issued amount	51	$ 51	0	0	0	0
Equity incentive plan, net	0	0	0	37	(37)	0
Net earnings	4,888	0	4,888	0	0	0
Change in accumulated other comprehensive income, net of tax	(679)	$ 0	0	0	0	(679)
Balance, shares at Jun. 30, 2024		5,457,646
Balance, amount at Jun. 30, 2024	$ 124,312	$ 48,678	$ 115,623	$ 1,980	$ (1,980)	$ (39,989)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net earnings	$ 8,836	$ 7,980
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation, amortization and accretion	1,429	1,720
Provision for (recovery of) credit losses	(377)	599
Deferred income taxes	(218)	(238)
Loss on sale of investment securities net	0	(2,488)
Gain on sale of premises and equipment	0	(191)
Restricted stock expense	92	78
Proceeds from sales of mortgage loans held for sale	6,973	6,754
Origination of mortgage loans held for sale	(7,575)	(8,103)
Cash surrender value of life insurance	231	209
Change in:
Right of use lease asset	357	403
Other assets	961	595
Lease liability	(345)	(385)
Other liabilities	425	1,386
Net cash provided by operating activities	10,327	12,877
Cash flows from investing activities:
Purchases of investment securities available for sale	(13,729)	(6,992)
Proceeds from sales, calls and maturities of investment securities available for sale	3,000	52,023
Proceeds from paydowns of investment securities available for sale	8,160	8,206
Proceeds from paydowns of other investment securities	128	75
Redemption (purchase) of FHLB stock	(10)	2
Net change in loans	(18,254)	(25,219)
Purchases of premises and equipment	(215)	(953)
Proceeds from sale of premises and equipment	0	1,460
Net cash provided (used) by investing activities	20,920	28,602
Cash flows from financing activities:
Net change in deposits	(83,911)	(65,691)
Net change in securities sold under agreement to repurchase	67,891	45,484
Proceeds from Fed Funds Purchased	0	43,275
Repayments of Fed Funds Purchased	0	43,275
Common stock repurchased	(1,998)	(833)
Cash dividends paid on common stock	(2,969)	(2,994)
Net cash provided (used) by financing activities	11,053	(24,034)
Net change in cash and cash equivalents	460	17,445
Cash and cash equivalents at beginning of period	82,375	71,596
Cash and cash equivalents at end of period	82,835	89,041
Supplemental disclosures of cash flow information
Interest	14,607	5,948
Income taxes	1,837	1,498
Noncash investing and financing activities:
Change in unrealized gain (loss) on investment securities available for sale, net	(624)	3,854
Restricted stock units exercised	51	6
Initial recognition of lease right-of-use asset and lease liability	0	348
Allowance for credit losses recorded upon adoption of ASU 326, net of tax	$ 0	$ (838)

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Summary of Significant Accounting Policies
Summary Of Significant Accounting Policies	(1) Summary of Significant Accounting Policies The Consolidated Financial Statements include the financial statements of Peoples Bancorp of North Carolina, Inc. (the “Company”) and its wholly owned subsidiary, Peoples Bank (the “Bank”), along with the Bank’s wholly owned subsidiaries, Peoples Investment Services, Inc. (“PIS”), Real Estate Advisory Services, Inc. (“REAS”), Community Bank Real Estate Solutions, LLC (“CBRES”) and PB Real Estate Holdings, LLC. All significant intercompany balances and transactions have been eliminated in consolidation. In June 2006, the Company formed a wholly owned Delaware statutory trust, PEBK Capital Trust II (“PEBK Trust II”), to facilitate the issuance of $20.6 million of trust preferred securities. PEBK Trust II is not included in the Consolidated Financial Statements. The Consolidated Financial Statements in this report (other than the Consolidated Balance Sheet at December 31, 2023) are unaudited. In the opinion of management, all adjustments necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these Consolidated Financial Statements in conformity with generally accepted accounting principles in the United States (“GAAP”). Actual results could differ from those estimates. Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by management in deciding how to allocate resources and in assessing performance. Management has determined that the Company has two significant operating segment: Banking Operations and CBRES, as discussed more fully in Note 7. In determining the appropriateness of segment definition, the Company considers the criteria of Accounting Standards Codification (“ASC”) 280, Segment Reporting. The Company’s accounting policies are fundamental to understanding management’s discussion and analysis of results of operations and financial condition. Many of the Company’s accounting policies require significant judgment regarding valuation of assets and liabilities and/or significant interpretation of the specific accounting guidance. A description of the Company’s significant accounting policies can be found in Note 1 of the Notes to Consolidated Financial Statements in the Company’s 2023 Annual Report to Shareholders which is Appendix A to the Proxy Statement for the 2024 Annual Meeting of Shareholders. There have been no significant changes to the application of significant accounting policies since December 31, 2023. Recent Accounting Pronouncements The following table provides a summary of Accounting Standards Updates (“ASU’s”) issued by the Financial Accounting Standards Board (“FASB”) that the Company has not adopted as of June 30, 2024, which may impact the Company’s financial statements. ASU Description Effective Date Effect on Financial Statements or Other Significant Matters ASU Description Effective Date Effect on Financial Statements or Other Significant Matters ASU 2023-07 Segment Reporting (Topic 280) The ASU provides amendments to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses Annual periods after 12/15/23 and interim periods after 12/15/24 The adoption of this guidance is not expected to have a material impact on the Company’s results of operations, financial position or disclosures. ASU 2023-09 Income Taxes (Topic 740) The ASU provides amendments to improve the transparency of income tax disclosures. January 1, 2025 The adoption of this guidance is not expected to have a material impact on the Company’s results of operations, financial position or disclosures. ASU 2024-01 Compensation—Stock Compensation (Topic 718) The ASU adds an illustrative example (with four fact patterns) on how an entity would apply Accounting Standards Codification (ASC) 718 scope guidance. January 1, 2025 The adoption of this guidance is not expected to have a material impact on the Company’s results of operations, financial position or disclosures. ASU 2024-02 Codification Improvements Amendments to Remove References to Concepts Statements The ASU removes references to various Concepts Statements. In most instances, the references are extraneous and not required to understand or apply the guidance. In other instances, the references are a substitute for actual wording from a Concepts Statement. In most cases, the ASU is not intended to result in significant accounting changes for most entities. January 1, 2025 The adoption of this guidance is not expected to have a material impact on the Company’s results of operations, financial position or disclosures. Other accounting standards that have been issued or proposed by FASB or other standards-setting bodies are not expected to have a material impact on the Company’s results of operations, financial position or disclosures. Reclassification Certain amounts in the 2023 consolidated financial statements have been reclassified to conform to the 2024 presentation. These reclassifications did not have any impact on shareholders’ equity or net earnings.

Comprehensive Income

Comprehensive Income	6 Months Ended
	Jun. 30, 2024
Comprehensive Income
Comprehensive Income	(2) Comprehensive Income The Company reports as comprehensive income all changes in shareholders’ equity during the year from sources other than shareholders. Other comprehensive income refers to all components (revenues, expenses, gains, and losses) of comprehensive income that are excluded from net income. The Company’s only component of other comprehensive income is unrealized gains and losses, net of income tax, on investment securities available for sale. The following table presents the changes in accumulated other comprehensive loss for the three and six months ended June 30, 2024 and 2023: For the three months ended For the six months ended (dollars in thousands) June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Beginning balance $ (39,310 ) $ (38,424 ) $ (39,365 ) $ (47,597 ) Other comprehensive loss before reclassifications, net (679 ) (5,319 ) (624 ) 1,938 Amounts reclassified from accumulated other comprehensive loss, net - - - 1,916 Net current period other comprehensive loss (679 ) (5,319 ) (624 ) 3,854 Ending balance $ (39,989 ) $ (43,743 ) $ (39,989 ) $ (43,743 )

Net Earnings Per Share

Net Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Net Earnings Per Share
Net Earnings Per Share	(3) Net Earnings Per Share Net earnings per share is based on the weighted average number of shares outstanding during the period while the effects of potential shares outstanding during the period are included in diluted earnings per share. The average market price during the applicable period is used to compute equivalent shares. The reconciliation of the amounts used in the computation of both “basic earnings per share” and “diluted earnings per share” for the three and six months ended June 30, 2024 and 2023 is as follows: For the three months ended June 30, 2024 Net Earnings (Dollars in thousands) Weighted Average Number of Shares Per Share Amount Basic earnings per share $ 4,888 5,290,856 $ 0.93 Effect of dilutive securities: Restricted stock units - unvested 19,886 Shares held in deferred comp plan by deferred compensation trust 165,608 Diluted earnings per share $ 4,888 5,476,350 $ 0.89 For the six months ended June 30, 2024 Net Earnings (Dollars in thousands) Weighted Average Number of Shares Per Share Amount Basic earnings per share $ 8,836 5,304,763 $ 1.67 Effect of dilutive securities: Restricted stock units - unvested 19,015 Shares held in deferred comp plan by deferred compensation trust 164,975 Diluted earnings per share $ 8,836 5,488,753 $ 1.61 For the three months ended June 30, 2023 Net Earnings (Dollars in thousands) Weighted Average Number of Shares Per Share Amount Basic earnings per share $ 4,808 5,451,521 $ 0.88 Effect of dilutive securities: Restricted stock units - unvested 20,636 Shares held in deferred comp plan by deferred compensation trust 161,749 Diluted earnings per share $ 4,808 5,633,906 $ 0.85 Net Earnings (Dollars in thousands) Weighted Average Number of Shares Per Share Amount Basic earnings per share $ 7,980 5,463,495 $ 1.46 Effect of dilutive securities: Restricted stock units - unvested 18,812 Shares held in deferred comp plan by deferred compensation trust 167,073 Diluted earnings per share $ 7,980 5,649,380 $ 1.41

Investment Securities

Investment Securities	6 Months Ended
	Jun. 30, 2024
Investment Securities
Investment Securities	(4) Investment Securities Investment securities available for sale at June 30, 2024 and December 31, 2023 are as follows: (Dollars in thousands) June 30, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasuries $ 7,978 - 872 7,106 U.S. Government sponsored enterprises 10,163 - 590 9,573 GSE - Mortgage-backed securities 257,268 176 23,296 234,148 Private label mortgage-backed securities 39,971 11 1,854 38,128 State and political subdivisions 129,796 - 25,491 104,305 Total $ 445,176 187 52,103 393,260 (Dollars in thousands) December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasuries $ 10,974 - 830 10,144 U.S. Government sponsored enterprises 11,111 - 596 10,515 GSE - Mortgage-backed securities 257,705 185 22,988 234,902 Private label mortgage-backed securities 33,317 16 2,063 31,270 State and political subdivisions 129,922 - 24,829 105,093 Total $ 443,029 201 51,306 391,924 The current fair value and associated unrealized losses on investments in securities with unrealized losses at June 30, 2024 and December 31, 2023 are summarized in the tables below, with the length of time the individual securities have been in a continuous loss position. (Dollars in thousands) June 30, 2024 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasuries $ - - 7,106 872 7,106 872 U.S. government sponsored enterprises - - 9,573 590 9,573 590 GSE -Mortgage-backed securities 10,239 144 210,829 23,152 221,068 23,296 Private label mortgage-backed securities 6,884 46 25,467 1,808 32,351 1,854 State and political subdivisions - - 104,305 25,491 104,305 25,491 Total $ 17,123 190 357,280 51,913 374,403 52,103 (Dollars in thousands) December 31, 2023 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasuries $ - - 10,144 830 10,144 830 U.S. government sponsored enterprises - - 10,515 596 10,515 596 GSE -Mortgage-backed securities 24,167 546 203,234 22,442 227,401 22,988 Private label mortgage-backed securities 3,416 43 23,095 2,020 26,511 2,063 State and political subdivisions - - 105,093 24,829 105,093 24,829 Total $ 27,583 589 352,081 50,717 379,664 51,306 At June 30, 2024, unrealized losses in the investment securities portfolio relating to debt securities totaled $52.1 million. The unrealized losses on these debt securities arose due to changing interest rates and are considered to be temporary. From the June 30, 2024 tables above, both of the U.S. Treasury securities, all 108 of the securities issued by state and political subdivisions contained unrealized losses, all seven of the securities issued by U.S. Government sponsored enterprises (“GSE”), 115 of the 124 GSE mortgage-backed securities, and 13 of the 16 private label mortgage backed securities contained unrealized losses. The Company did not have any reserves on available for sale securities at June 30, 2024, as no credit related losses were identified in the Company’s June 30, 2024 analysis. At December 31, 2023, unrealized losses in the investment securities portfolio relating to debt securities totaled $51.3 million. The unrealized losses on these debt securities arose due to changing interest rates and are considered to be temporary. From the December 31, 2023 tables above, all three of the U.S. Treasury securities, all 108 of the securities issued by state and political subdivisions contained unrealized losses, all seven of the securities issued by GSE, 114 of the 121 GSE mortgage-backed securities, and 12 of the 14 private label mortgage backed securities contained unrealized losses. The Company did not have an allowance for credit losses on available for sale securities at December 31, 2023, as no credit related losses were identified in the Company’s December 31, 2023 CECL analysis. The amortized cost and estimated fair value of investment securities available for sale at June 30, 2024, presented by contractual maturity, are shown below. Expected maturities of mortgage-backed securities will differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties. June 30, 2024 (Dollars in thousands) Amortized Cost Fair Value Due within one year $ 2,997 2,951 Due from one to five years 17,620 15,955 Due from five to ten years 59,340 49,675 Due after ten years 107,951 90,531 Mortgage-backed securities 257,268 234,148 Total $ 445,176 393,260 No securities available for sale were sold during the six months ended June 30, 2024. No securities available for sale were sold during the three months ended June 30, 2023. During the six months ended June 30, 2023, proceeds from sales of securities available for sale were $51.0 million and resulted in gross losses of $2.7 million and gross gains of $177,000. Securities with a fair value of approximately $61.3 million and $132.0 million at June 30, 2024 and December 31, 2023, respectively, were pledged to secure public deposits and for other purposes as required by law.

Loans

Loans	6 Months Ended
	Jun. 30, 2024
Loans
Loans	(5) Loans Major classifications of loans at June 30, 2024 and December 31, 2023 are summarized as follows: (Dollars in thousands) June 30, 2024 December 31, 2023 Real estate loans: Construction and land development $ 119,606 136,401 Single-family residential 376,657 372,825 Commercial 456,088 425,820 Multifamily and farmland 70,701 63,042 Total real estate loans 1,023,052 998,088 Loans not secured by real estate: Commercial 64,464 70,544 Farm 523 550 Consumer 6,483 6,966 All other 16,150 16,918 Total loans 1,110,672 1,093,066 Less allowance for credit losses (10,016 ) (11,041 ) Total net loans $ 1,100,656 1,082,025 The Bank makes loans and extensions of credit primarily within the Catawba Valley region of North Carolina, which encompasses Catawba, Alexander, Iredell and Lincoln counties and also in Mecklenburg, Wake, Rowan and Forsyth counties of North Carolina. Although the Bank has a diversified loan portfolio, a substantial portion of the loan portfolio is collateralized by improved and unimproved real estate, the value of which is dependent upon the real estate market. Risk characteristics of the major components of the Bank’s loan portfolio are discussed below: · Construction and land development loans – The risk of loss is largely dependent on the initial estimate of whether the property’s value at completion equals or exceeds the cost of property construction and the availability of take-out financing. During the construction phase, a number of factors can result in delays or cost overruns. If the estimate is inaccurate or if actual construction costs exceed estimates, the value of the property securing the loan may be insufficient to ensure full repayment when completed through a permanent loan, sale of the property, or by seizure of collateral. · Single-family residential loans – Declining home sales volumes, decreased real estate values and higher than normal levels of unemployment could contribute to losses on these loans. · Commercial real estate loans – Repayment is dependent on income being generated in amounts sufficient to cover operating expenses and debt service. These loans also involve greater risk because they are generally not fully amortizing over the loan period, but rather have a balloon payment due at maturity. A borrower’s ability to make a balloon payment typically will depend on being able to either refinance the loan or timely sell the underlying property. · Commercial loans – Repayment is generally dependent upon the successful operation of the borrower’s business. In addition, the collateral securing the loans may depreciate over time, be difficult to appraise, be illiquid, or fluctuate in value based on the success of the business. · Multifamily and farmland loans – Decreased real estate values and higher than normal levels of unemployment could contribute to losses on these loans. Loans are considered past due if the required principal and interest payments have not been received within 30 days of the date such payments were due. Loans are placed on non-accrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. Generally, a loan is placed on non-accrual status when it is over 90 days past due and there is reasonable doubt that all principal will be collected. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The following tables present an age analysis of past due loans, by loan type, as of June 30, 2024 and December 31, 2023: June 30, 2024 (Dollars in thousands) Loans 30-89 Days Past Due Nonaccrual Loans Total Past Due Loans Total Current Loans Total Loans Accruing Loans 90 or More Days Past Due Real estate loans: Construction and land development $ - 41 41 119,565 119,606 - Single-family residential 1,965 3,779 5,744 370,913 376,657 - Commercial 1,025 - 1,025 455,063 456,088 - Multifamily and farmland - 69 69 70,632 70,701 - Total real estate loans 2,990 3,889 6,879 1,016,173 1,023,052 - Loans not secured by real estate: Commercial 83 252 335 64,129 64,464 - Farm - - - 523 523 - Consumer 19 15 34 6,449 6,483 - All other - - - 16,150 16,150 - Total loans $ 3,092 4,156 7,248 1,103,424 1,110,672 - December 31, 2023 (Dollars in thousands) Loans 30-89 Days Past Due Nonaccrual Loans Total Past Due Loans Total Current Loans Total Loans Accruing Loans 90 or More Days Past Due Real estate loans: Construction and land development $ 5 45 50 136,351 136,401 - Single-family residential 3,761 3,302 7,063 365,762 372,825 - Commercial 13 - 13 425,807 425,820 - Multifamily and farmland - 76 76 62,966 63,042 - Total real estate loans 3,779 3,423 7,202 990,886 998,088 - Loans not secured by real estate: Commercial 125 463 588 69,956 70,544 - Farm - 1 1 549 550 - Consumer 63 - 63 6,903 6,966 - All other - - - 16,918 16,918 - Total loans $ 3,967 3,887 7,854 1,085,212 1,093,066 - The following table presents non-accrual loans as of June 30, 2024 and December 31, 2023: June 30, 2024 Nonaccrual Loans Nonaccrual Loans Total With No With Nonaccrual (Dollars in thousands) Allowance Allowance Loans Real estate loans: Construction and land development $ 41 - 41 Single-family residential 3,779 - 3,779 Multifamily and farmland 69 - 69 Total real estate loans 3,889 - 3,889 Loans not secured by real estate: Commercial 252 - 252 Consumer 15 - 15 Total $ 4,156 - 4,156 December 31, 2023 Nonaccrual Loans Nonaccrual Loans Total With No With Nonaccrual (Dollars in thousands) Allowance Allowance Loans Real estate loans: Construction and land development $ 45 - 45 Single-family residential 3,302 - 3,302 Multifamily and farmland 76 - 76 Total real estate loans 3,423 - 3,423 Loans not secured by real estate: Commercial 31 432 463 Consumer 1 - 1 Total $ 3,455 432 3,887 No interest income was recognized on non-accrual loans for the six months ended June 30, 2024 and 2023. The allowance for credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon origination or acquisition. The starting point for the estimate of the allowance for credit losses is historical loss information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. Because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. Occasionally, the Bank modifies loans by providing principal forgiveness on certain loans. When principal forgiveness is provided, the amortized cost basis of the asset is written off against the allowance for credit losses. The amount of the principal forgiveness is deemed to be uncollectible; therefore, that portion of the loan is written off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the allowance for credit losses. In some cases, the Bank may modify a certain loan by providing multiple types of concessions. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. The following tables show the amortized cost basis at June 30, 2024 and 2023 of the loans to borrowers experiencing financial difficulty that were modified during the six months ended June 30, 2024 and 2023, disaggregated by loan class and type of concession granted. (Dollars in thousands) Amortized Cost Basis at June 30, 2024 % of Loan Class Modification Type Financial Effect Loan class: Single-family residential 201 0.05 % Interest rate reduction Adjustable rate loan converted to fixed rate loan Commercial not secured by real estate 73 0.11 % Term extension Line of credit converted to amortizing term loan Total $ 274 (Dollars in thousands) Amortized Cost Basis at June 30, 2023 % of Loan Class Modification Type Financial Effect Loan class: Single-family residential 157 0.05 % Term extension Forbearance agreement on matured home equity line of credit (HELOC) that was modified to 180 month term. Commercial real estate 680 0.16 % Term extension Extended existing amortization from 148 months to 173 months to keep existing payment the same with the current market rate. Total $ 837 No loans modified in the six months ended June 30, 2024 and 2023 that were made to borrowers experiencing financial difficulty had been written off at June 30, 2024 and 2023. The Bank closely monitors the performance of those loans that are modified because borrowers are experiencing financial difficulty so as to understand the effectiveness of its modification efforts. The following tables show the performance of loans that have been modified in the six months ended June 30, 2024 and 2023. June 30, 2024 (Dollars in thousands) Payment Status (Amortized Cost Basis) Current 30 - 89 Days Past Due 90 + Days Past Due Loan type: Single-family residential 201 Commercial not secured by real estate 73 - - Total $ 274 - - June 30, 2023 (Dollars in thousands) Payment Status (Amortized Cost Basis) Current 30 - 89 Days Past Due 90 + Days Past Due Loan type: Single-family residential 157 - - Commercial real estate 680 - - Total $ 837 - - The following tables present changes in the allowance for credit losses for the three and six months ended June 30, 2024 and 2023. (Dollars in thousands) Real Estate Loans Construction and Land Development Single-Family Residential Commercial Multifamily and Farmland Commercial Farm Consumer and All Other Total Three months ended June 30, 2024 Allowance for credit losses: Beginning balance $ 3,680 3,597 2,345 313 672 2 238 10,847 Charge-offs - (126 ) - - (301 ) - (145 ) (572 ) Recoveries - 15 1 - 34 - 26 76 Provision (recovery) for loan losses (1) (362 ) (2 ) 28 (42 ) (37 ) (1 ) 81 (335 ) Ending balance $ 3,318 3,484 2,374 271 368 1 200 10,016 Allowance for credit loss-loans $ 3,318 3,484 2,374 271 368 1 200 10,016 Allowance for credit losses loan commitments 1,541 1 1 - 19 - 3 1,565 Total allowance for credit losses $ 4,859 3,485 2,375 271 387 1 203 11,581 Six months ended June 30, 2024 Allowance for credit losses: Beginning balance $ 3,913 3,484 2,317 268 812 2 245 11,041 Charge-offs - (126 ) - - (747 ) - (355 ) (1,228 ) Recoveries - 71 203 - 39 - 62 375 Provision (recovery) for loan losses (1) (595 ) 55 (146 ) 3 264 (1 ) 248 (172 ) Ending balance $ 3,318 3,484 2,374 271 368 1 200 10,016 Allowance for credit loss-loans $ 3,318 3,484 2,374 271 368 1 200 10,016 Allowance for credit losses loan commitments 1,541 1 1 - 19 - 3 1,565 Total allowance for credit losses $ 4,859 3,485 2,375 271 387 1 203 11,581 (1) Excludes provision for credit losses related to unfunded commitments. Note 8,"Commitments and Contingencies" in the condensed consolidated financial statements provides more detail concerning the provision for credit losses related to unfunded commitments. (Dollars in thousands) Real Estate Loans Construction and Land Development Single-Family Residential Commercial Multifamily and Farmland Commercial Farm Consumer and All Other Unallocated Total Three months ended June 30, 2023 Allowance for credit losses: Beginning balance $ 3,249 3,191 2,244 298 348 1 286 - 9,617 Charge-offs - - - - (35 ) - (142 ) - (177 ) Recoveries - 111 1 - 23 - 23 - 158 Provision (recovery) for loan losses (1) (22 ) - 120 (10 ) 31 1 71 - 191 Ending balance $ 3,227 3,302 2,365 288 367 2 238 - 9,789 Allowance for credit loss-loans $ 3,227 3,302 2,365 288 367 2 238 - 9,789 Allowance for credit losses loan commitments 2,166 88 - - - 1 4 - 2,259 Total allowance for credit losses $ 5,393 3,390 2,365 288 367 3 242 - 12,048 Six months ended June 30, 2023 Allowance for credit losses: Beginning balance $ 1,415 3,085 3,207 164 657 - 214 1,752 10,494 Adjustment for CECL implementation (1) 1,584 64 (986 ) 115 (295 ) 2 48 (1,752 ) (1,220 ) Charge-offs - - - - (35 ) - (308 ) - (343 ) Recoveries - 123 3 - 32 - 82 - 240 Provision (recovery) for loan losses (1) 228 30 141 9 8 - 202 - 618 Ending balance $ 3,227 3,302 2,365 288 367 2 238 - 9,789 Allowance for credit loss-loans $ 3,227 3,302 2,365 288 367 2 238 - 9,789 Allowance for credit losses loan commitments 2,166 88 - - - 1 4 - 2,259 Total allowance for credit losses $ 5,393 3,390 2,365 288 367 3 242 - 12,048 (1) Excludes adjustment for CECL implemenation and provision for credit losses related to unfunded commitments. Note 8,"Commitments and Contingencies" in the condensed consolidated financial statements provides more detail concerning the implementation adjustment and provision for credit losses related to unfunded commitments. The were no collateral dependent loans individually evaluated at June 30, 2024 and December 31, 2023. The Bank utilizes several credit quality indicators to manage credit risk in an ongoing manner. The Bank uses an internal risk grade system that categorizes loans into pass, watch or substandard categories. The Bank uses the following credit quality indicators: · Pass – Includes loans ranging from excellent quality with a minimal amount of credit risk to loans with higher risk and servicing needs but still are considered to be acceptable. The higher risk loans in this category are not problem credits presently, but may be in the future if the borrower is unable to change its present course. · Watch – These loans are currently performing satisfactorily, but there has been some recent past due history on repayment and there are potential weaknesses that may, if not corrected, weaken the asset or inadequately protect the Bank’s position at some future date. · Substandard – A Substandard loan is inadequately protected by the current sound net worth and paying capacity of the obligor or the collateral pledged (if there is any). There is a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. There is a distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. · Doubtful – Loans classified Doubtful have all the weaknesses inherent in loans classified Substandard, plus the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. · Loss – Loans classified Loss are considered uncollectable and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this worthless loan even though partial recovery may be affected in the future. The following table presents by credit quality indicator, loan class and year of origination, the amortized cost of the Bank’s loans as of June 30, 2024. Term Loans by Origination Year Revolving Loans (dollars in thousands) Revolving Converted to Total 2024 2023 2022 2021 2020 Prior Loans Term Loans Loans June 30, 2024 Real Estate Loans Construction and land development Pass $ 16,265 37,245 46,498 7,690 6,388 4,727 268 - 119,081 Watch - - - 446 - - - - 446 Substandard - - - - - 79 - - 79 Total Construction and land development $ 16,265 37,245 46,498 8,136 6,388 4,806 268 - 119,606 Single family Pass $ 10,133 33,974 76,532 46,097 22,691 71,769 107,734 - 368,930 Watch - - - - - 1,536 993 - 2,529 Substandard - - 661 - - 4,315 222 - 5,198 Total single family $ 10,133 33,974 77,193 46,097 22,691 77,620 108,949 - 376,657 Commercial Pass $ 36,985 45,955 119,567 78,229 60,282 109,391 2,212 - 452,621 Watch - - - - - 3,062 - - 3,062 Substandard - - - - - 405 - - 405 Total commercial $ 36,985 45,955 119,567 78,229 60,282 112,858 2,212 - 456,088 Multifamily and farmland Pass $ 214 8,702 21,287 21,141 6,336 12,473 434 - 70,587 Watch - - - - - 45 - - 45 Substandard - - - - - 69 - - 69 Total multifamily and farmland $ 214 8,702 21,287 21,141 6,336 12,587 434 - 70,701 Total real estate loans $ 63,597 125,876 264,545 153,603 95,697 207,871 111,863 - 1,023,052 Loans not secured by real estate Commercial Pass $ 5,922 10,305 12,915 3,994 2,063 13,848 14,125 - 63,172 Watch - 558 - 73 276 127 6 - 1,040 Substandard - 29 223 - - - - - 252 Total Commercial $ 5,922 10,892 13,138 4,067 2,339 13,975 14,131 - 64,464 Farm Pass $ 59 163 23 61 - 12 205 - 523 Watch - - - - - - - - - Substandard - - - - - - - - - Total farm $ 59 163 23 61 - 12 205 - 523 Consumer Pass $ 953 1,593 1,001 247 148 95 2,406 - 6,443 Watch - - 23 - - - - - 23 Substandard - - - - - 14 3 - 17 Total consumer $ 953 1,593 1,024 247 148 109 2,409 - 6,483 All other Pass $ 616 - 6,318 425 244 3,153 5,261 - 16,017 Watch - - - - - 133 - - 133 Substandard - - - - - - - - - Total all other $ 616 - 6,318 425 244 3,286 5,261 - 16,150 Total loans not secured by real estate $ 7,550 12,648 20,503 4,800 2,731 17,382 22,006 - 87,620 Total loans $ 71,147 138,524 285,048 158,403 98,428 225,253 133,869 - 1,110,672 The following table presents by credit quality indicator, loan class and year of origination, gross loan charge-offs as of June 30, 2024. Gross Loan Charge-offs by Origination Year Revolving Loans (dollars in thousands) Revolving Converted to Total 2024 2023 2022 2021 2020 Prior Loans Term Loans Loans Real estate loans: Construction and land development $ - 126 - - - - - - 126 Single-family residential - - - - - - - - - Commercial - - - - - - - - - Multifamily and farmland - - - - - - - - - Total real estate loans - 126 - - - - - - 126 Loans not secured by real estate: Commercial - 347 397 3 - - - - 747 Consumer - 10 4 - - 234 - - 248 All other - - - - - 107 - - 107 Total gross charge-offs $ - 483 401 3 - 341 - - 1,228 The following table presents by credit quality indicator, loan class and year of origination, the amortized cost of the Bank’s loans as of December 31, 2023. Term Loans by Origination Year Revolving Loans (dollars in thousands) Revolving Converted to Total 2023 2022 2021 2020 2019 Prior Loans Term Loans Loans December 31, 2023 Real Estate Loans Construction and land development Pass $ 40,034 71,429 10,736 6,692 1,721 3,914 1,337 - 135,863 Watch - - 448 - - - - - 448 Substandard - - - - - 90 - - 90 Total Construction and land development $ 40,034 71,429 11,184 6,692 1,721 4,004 1,337 - 136,401 Single family Pass $ 32,333 76,326 47,490 24,813 12,984 64,847 106,962 - 365,755 Watch - - - - 89 1,389 860 - 2,338 Substandard - - - - 11 4,342 379 - 4,732 Total single family $ 32,333 76,326 47,490 24,813 13,084 70,578 108,201 - 372,825 Commercial Pass $ 45,755 109,255 78,645 61,973 29,579 92,753 2,158 - 420,118 Watch 232 - - 116 - 4,943 - - 5,291 Substandard - - - 411 - - - - 411 Total commercial $ 45,987 109,255 78,645 62,500 29,579 97,696 2,158 - 425,820 Multifamily and farmland Pass $ 7,987 13,286 21,512 6,624 3,158 9,851 501 - 62,919 Watch - - - - - 47 - - 47 Substandard - - - - - 76 - - 76 Total multifamily and farmland $ 7,987 13,286 21,512 6,624 3,158 9,974 501 - 63,042 Total real estate loans $ 126,341 270,296 158,831 100,629 47,542 182,252 112,197 - 998,088 Loans not secured by real estate Commercial Pass $ 9,561 14,122 4,841 2,942 2,232 12,030 23,411 - 69,139 Watch - - - - 57 102 783 - 942 Substandard 31 - - - - - - - 31 Loss - 82 - - - - 350 432 Total Commercial $ 9,592 14,204 4,841 2,942 2,289 12,132 24,544 - 70,544 Farm Pass $ 198 42 83 - 1 27 199 - 550 Watch - - - - - - - - - Substandard - - - - - - - - - Total farm $ 198 42 83 - 1 27 199 - 550 Consumer Pass $ 2,262 1,352 404 222 72 58 2,591 - 6,961 Watch - - - - - - - - - Substandard - - 2 - - - 3 - 5 Total consumer $ 2,262 1,352 406 222 72 58 2,594 - 6,966 All other Pass $ 79 6,401 474 274 599 3,698 5,256 - 16,781 Watch - - - - - 74 63 - 137 Substandard - - - - - - - - - Total all other $ 79 6,401 474 274 599 3,772 5,319 - 16,918 Total loans not secured by real estate $ 12,131 21,999 5,804 3,438 2,961 15,989 32,656 - 94,978 Total loans $ 138,472 292,295 164,635 104,067 50,503 198,241 144,853 - 1,093,066 The following table presents by credit quality indicator, loan class and year of origination, gross loan charge-offs as of December 31, 2023. Gross Loan Charge-offs by Origination Year Revolving Loans (dollars in thousands) Revolving Converted to Total 2023 2022 2021 2020 2019 Prior Loans Term Loans Loans Real estate loans: Construction and land development $ - - - - - - - - - Single-family residential - - - - - - - - - Commercial - - - - - - - - - Multifamily and farmland - - - - - - - - - Total real estate loans - - - - - - - - - Loans not secured by real estate: Commercial - 49 51 16 - 13 - - 129 Farm - - - - - - - - - Consumer - 41 53 6 1 468 - - 569 All other - - - - - - - - - Total gross charge-offs $ - 90 104 22 1 481 - - 698

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases
Leases	(6) Leases As of June 30, 2024, the Bank had operating right of use assets of $4.4 million and operating lease liabilities of $4.5 million. The Bank maintains operating leases on land and buildings for some of the Bank’s branch facilities and loan production offices. Most leases include one option to renew, with renewal terms extending up to 15 years. The exercise of renewal options is based on the judgment of management as to whether or not the renewal option is reasonably certain to be exercised. Factors in determining whether an option is reasonably certain of exercise include, but are not limited to, the value of leasehold improvements, the value of renewal rates compared to market rates, and the presence of factors that would cause a significant economic penalty to the Bank if the option is not exercised. Leases with a term of 12 months or less are not recorded on the balance sheet and instead are recognized in lease expense on a straight-line basis over the lease term. The following table presents lease cost and other lease information as of June 30, 2024 and 2023. (Dollars in thousands) June 30, 2024 June 30, 2023 Operating lease cost $ 420 $ 396 Other information: Cash paid for amounts included in the measurement of lease liabilities 408 382 Operating cash flows from operating leases - - Right-of-use assets obtained in exchange for new lease liabilities - operating leases - 348 Weighted-average remaining lease term - operating leases 8.16 8.81 Weighted-average discount rate - operating leases 2.76 % 2.69 % The following table presents lease maturities as of June 30, 2024. (Dollars in thousands) Maturity Analysis of Operating Lease Liabilities: June 30, 2024 2024 $ 410 2025 773 2026 650 2027 612 2028 510 Thereafter 2,116 Total 5,071 Less: Imputed Interest (584 ) Operating Lease Liability $ 4,487

Securities Sold Under Agreement

Securities Sold Under Agreements to Repurchase ("Repurchase agreements")	6 Months Ended
	Jun. 30, 2024
Securities Sold Under Agreements to Repurchase ("Repurchase agreements")
Securities Sold Under Agreements to Repurchase ("Repurchase agreements")	(7) Securities Sold Under Agreements to Repurchase (“repurchase agreements”) The Bank utilizes repurchase agreements to facilitate the needs of our customers and provide additional funding to our balance sheet. Repurchase agreements are transactions whereby we offer to sell to a counterparty an undivided interest in an eligible security at an agreed upon purchase price, and which obligates the Bank to repurchase the security on an agreed upon date at an agreed upon repurchase price plus interest at an agreed upon rate. Securities sold under repurchase agreements are recorded at the amount of cash received in connection with the transaction and are reflected in the accompanying consolidated balance sheet. Repurchase agreements are subject to terms and conditions of the master repurchase agreements between the Bank and the customer and are accounted for as secured borrowings. At June 30, 2024 and December 31, 2023, repurchase agreements totaled $18.8 million and $86.7 million, respectively. These borrowings were collateralized with government-sponsored enterprise securities with a market value of $28.4 million and $89.8 million at June 30, 2024 and December 31, 2023, respectively. We monitor collateral levels on a continuous basis and maintain records of each transaction specifically describing the applicable security and the counterparty’s fractional interest in that security, and we segregate the security from its general assets in accordance with regulations governing custodial holdings of securities. The primary risk with repurchase agreements is market risk associated with the securities securing the transactions, as we may be required to provide additional collateral based on fair value changes of the underlying securities.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments And Contingencies Disclosure Abstract
Commitments and Contingencies	(8) Commitments and Contingencies The Bank is party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the balance sheet. The contract amounts of those instruments reflect the extent of involvement the Bank has in particular classes of financial instruments. The exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments to extend credit and standby letters of credit as it does for on-balance-sheet instruments. In most cases, the Bank requires collateral or other security to support financial instruments with credit risk. (Dollars in thousands) Contractual Amount 06/30/24 12/31/23 Financial instruments whose contract amount represent credit risk: Commitments to extend credit $ 372,753 367,482 Standby letters of credit $ 3,810 3,721 Commitments to extend credit are conditional agreements to lend to a customer. Commitments generally have fixed expiration dates and because they may expire without being drawn upon, the total commitment amount of $376.6 million does not necessarily represent future cash requirements. Standby letters of credit are conditional commitments issued by the Bank to pay a third party on behalf of a customer. Those letters of credit are primarily issued to businesses in the Bank’s delineated market area. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Bank holds real estate, equipment, automobiles and customer deposits as collateral supporting those commitments for which collateral is deemed necessary. The Company maintains an allowance for off-balance sheet credit exposures such as unfunded balances for existing lines of credit, commitments to extend future credit, when this extension of credit is not unconditionally cancelable. The allowance for off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur, which is based on a historical funding activity and an estimate of expected credit losses on commitments expected to be funded over its estimated life, which are the same loss rates that are used in computing the allowance for credit losses on loans. The allowance for credit losses for unfunded loan commitments of $1.6 million and $2.1 million at June 30, 2024 and 2023, respectively, is separately classified on the balance sheet within Other Liabilities. The following table presents the balance and activity in the allowance for credit losses for unfunded loan commitments for the three and six months ended June 30, 2024 and 2023. (dollars in thousands) For three months ended For six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Beginning Balance $ 1,698 $ 2,075 $ 1,770 $ - Cummulative effect of change in accounting principle - - - 2,278 Provision for (recovery of) credit losses (133 ) 184 (205 ) (19 ) Ending balance $ 1,565 $ 2,259 $ 1,565 $ 2,259

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2024
Fair Value
Fair Value	(9) Fair Value The Company is required to disclose fair value information about financial instruments, whether or not recognized at fair value on the face of the balance sheet, for which it is practicable to estimate that value. The assumptions used in the estimation of the fair value of the Company’s financial instruments are detailed below. Where quoted prices are not available, fair values are based on estimates using discounted cash flows and other valuation techniques. The use of discounted cash flows can be significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. The following disclosures should not be considered a surrogate of the liquidation value of the Company, but rather a good faith estimate of the increase or decrease in the value of financial instruments held by the Company since purchase, origination, or issuance. The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: · Level 1 – Valuation is based upon quoted prices for identical instruments traded in active markets. · Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. · Level 3 – Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. Investment Securities Available for Sale Fair values of investment securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges when available. If quoted prices are not available, fair value is determined using matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities. Fair values for investment securities with quoted market prices are reported in the Level 1 fair value category. Fair value measurements obtained from independent pricing services are reported in the Level 2 fair value category. All other fair value measurements are reported in the Level 3 fair value category. Mortgage Loans Held for Sale Mortgage loans held for sale are carried at lower of aggregate cost or market value. The cost of mortgage loans held for sale approximates the market value. Mortgage loans held for sale are reported in the Level 2 fair value category. Management determined that the valuation technique used at current period end and prior period end are more appropriately classified as Level 2 and has updated in the current period and prior period year end classifications to Level 2. Loans The fair value of loans, excluding previously presented individually evaluated loans measured at fair value on a non-recurring basis, is estimated using discounted cash flow analyses. The discount rates used to determine fair value use interest rate spreads that reflect factors such as liquidity, credit, and nonperformance risk of the loans. Loans are reported in the Level 3 fair value category, as the pricing of loans is more subjective than the pricing of other financial instruments. Mutual Funds For mutual funds held in the deferred compensation trust, the carrying value is a reasonable estimate of fair value. Mutual funds held in the deferred compensation trust are included in other assets on the balance sheet and reported in the Level 1 fair value category. FHLB Borrowings The fair value of FHLB borrowings is estimated based upon discounted future cash flows using a discount rate comparable to the current market rate for such borrowings. FHLB borrowings are reported in the Level 2 fair value category. Management determined that the valuation technique used at current period end and prior period end are more appropriately classified as Level 2 and has updated in the current period and prior period year end classifications to Level 2. Commitments to Extend Credit and Standby Letters of Credit Commitments to extend credit and standby letters of credit are generally short-term in duration and made at variable interest rates. Therefore, both the carrying value and estimated fair value associated with these instruments are immaterial. Limitations Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on many judgments. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and liabilities that are not considered financial instruments include deferred income taxes and premises and equipment. In addition, the tax ramifications related to the realization of unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates. The tables below present all financial instruments measured at fair value on a recurring basis by level within the fair value hierarchy, as of June 30, 2024 and December 31, 2023. (Dollars in thousands) June 30, 2024 Fair Value Level 1 Valuation Level 2 Valuation Level 3 Valuation U.S. Treasuries $ 7,106 - 7,106 - U.S. Government sponsored enterprises 9,573 - 9,573 - GSE - Mortgage-backed securities 234,148 - 234,148 - Private label mortgage-backed securities 38,128 - 38,128 - State and political subdivisions 104,305 - 104,305 - (Dollars in thousands) December 31, 2023 Fair Value Level 1 Valuation Level 2 Valuation Level 3 Valuation U.S. Treasuries $ 10,144 - 10,144 - U.S. Government sponsored enterprises 10,515 10,515 GSE - Mortgage-backed securities 234,902 - 234,902 - Private label mortgage-backed securities 31,270 - 31,270 - State and political subdivisions 105,093 - 105,093 - The fair value measurements for individually evaluated loans on a non-recurring basis at June 30, 2024 and December 31, 2023 are presented below. The fair value measurement process uses certified appraisals and other market-based information; however, in many cases, it also requires significant input based on management’s knowledge of, and judgment about, current market conditions, specific issues relating to the collateral and other matters. As a result, all fair value measurements for individually evaluated loans and other real estate are considered Level 3. (Dollars in thousands) Fair Value Measurements June 30, 2024 Level 1 Valuation Level 2 Valuation Level 3 Valuation Individually evaluated loans $ - - - - (Dollars in thousands) Fair Value Measurements December 31, 2023 Level 1 Valuation Level 2 Valuation Level 3 Valuation Individually evaluated loans $ - - - - (Dollars in thousands) Fair Value June 30, 2024 Fair Value December 31, 2023 Valuation Technique Significant Unobservable Inputs General Range of Significant Unobservable Input Values Individually evaluated loans $ - $ - Appraised value Discounts to reflect current market conditions and ultimate collectability 0 - 25% The carrying amount and estimated fair value of financial instruments at June 30, 2024 and December 31, 2023 are as follows: (Dollars in thousands) Fair Value Measurements at June 30, 2024 Carrying Amount Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 82,835 82,835 - - 82,835 Investment securities available for sale 393,260 - 393,260 - 393,260 Other investments 2,779 - - 2,779 2,779 Mortgage loans held for sale 1,288 - 1,288 - 1,288 Loans, net 1,100,656 - - 1,092,244 1,092,244 Mutual funds held in deferred compensation trust 2,387 2,387 - - 2,387 Liabilities: Deposits $ 1,475,956 - 1,479,261 - 1,479,261 Securities sold under agreements to repurchase 18,824 - 18,824 - 18,824 Junior subordinated debentures 15,464 - 15,464 - 15,464 Fair Value Measurements at December 31, 2023 Carrying Amount Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 82,375 82,375 - - 82,375 Investment securities available for sale 391,924 - 391,924 - 391,924 Other investments 2,874 - - 2,874 2,874 Mortgage loans held for sale 686 - 686 - 686 Loans, net 1,082,025 - - 1,071,178 1,071,178 Mutual funds held in deferred compensation trust 2,171 2,171 - - 2,171 Liabilities: Deposits $ 1,392,045 - 1,397,351 - 1,397,351 Securities sold under agreements to repurchase 86,715 - 86,715 - 86,715 Junior subordinated debentures 15,464 - 15,464 - 15,464

Reportable Segments

Reportable Segments	6 Months Ended
	Jun. 30, 2024
Reportable Segments
Reportable Segments	(10) Reportable Segments The Company has two reportable segments, as described below. Banking Operations – This segment reflects the consolidated Bank, excluding CBRES. The primary source of revenue for this segment is net interest income. CBRES – A Bank subsidiary that provides appraisal management services to community banks. The primary source of revenue for this segment is appraisal management fee income. The following table presents financial information for the reportable segments. The information provided under the caption “Other” represents financial information for the Company, which is not considered to be a reportable segment, and is included to reconcile the results of the reportable segments to the Consolidated Financial Statements prepared in conformity with GAAP. (Dollars in thousands) Banking Operations CBRES Other Consolidated As of and for the three months ended June 30, 2024 Interest income $ 20,060 $ - $ 10 $ 20,070 Interest expense 6,371 - 283 6,654 Net interest income 13,689 - (273 ) 13,416 Provision for (recovery of) credit losses (468 ) - - (468 ) Noninterest income 4,340 - - 4,340 Appraisal management fee income - 3,181 - 3,181 Noninterest expense 12,019 399 190 12,608 Appraisal management fee expense - 2,523 - 2,523 Income tax expense (benefit) 1,423 60 (97 ) 1,386 Net income (loss) $ 5,055 $ 199 $ (366 ) $ 4,888 Total assets $ 1,650,872 $ 4,035 $ 491 $ 1,655,398 As of and for the three months ended June 30, 2023 Interest income $ 17,591 $ - $ 8 $ 17,599 Interest expense 3,569 - 259 3,828 Net interest income 14,022 - (251 ) 13,771 Provision for (recovery of) credit losses 375 - - 375 Noninterest income 3,813 - - 3,813 Appraisal management fee income - 2,590 - 2,590 Noninterest expense 11,038 360 172 11,570 Appraisal management fee expense - 2,049 - 2,049 Income tax expense (benefit) 1,418 42 (88 ) 1,372 Net income (loss) $ 5,004 $ 139 $ (335 ) $ 4,808 Total assets $ 1,606,211 $ 3,511 $ 1,852 $ 1,611,574 As of and for the six months ended June 30, 2024 Interest income $ 39,861 $ - $ 19 $ 39,880 Interest expense 12,593 - 567 13,160 Net interest income 27,268 - (548 ) 26,720 Provision for (recovery of) credit losses (377 ) - - (377 ) Noninterest income 7,964 - - 7,964 Appraisal management fee income - 5,595 - 5,595 Noninterest expense 24,125 743 352 25,220 Appraisal management fee expense - 4,427 - 4,427 Income tax expense (benefit) 2,264 98 (189 ) 2,173 Net income (loss) $ 9,220 $ 327 $ (711 ) $ 8,836 Total assets $ 1,650,872 $ 4,035 $ 491 $ 1,655,398 As of and for the six months ended June 30, 2023 Interest income $ 34,384 $ - $ 16 $ 34,400 Interest expense 5,784 - 507 6,291 Net interest income 28,600 - (491 ) 28,109 Provision for (recovery of) credit losses 599 - - 599 Noninterest income 5,330 - - 5,330 Appraisal management fee income - 4,684 - 4,684 Noninterest expense 22,602 694 326 23,622 Appraisal management fee expense - 3,699 - 3,699 Income tax expense (benefit) 2,327 67 (171 ) 2,223 Net income (loss) $ 8,402 $ 224 $ (646 ) $ 7,980 Total assets $ 1,606,211 $ 3,511 $ 1,852 $ 1,611,574

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Summary of Significant Accounting Policies
Recent Accounting Pronouncements	The following table provides a summary of Accounting Standards Updates (“ASU’s”) issued by the Financial Accounting Standards Board (“FASB”) that the Company has not adopted as of June 30, 2024, which may impact the Company’s financial statements. ASU Description Effective Date Effect on Financial Statements or Other Significant Matters ASU Description Effective Date Effect on Financial Statements or Other Significant Matters ASU 2023-07 Segment Reporting (Topic 280) The ASU provides amendments to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses Annual periods after 12/15/23 and interim periods after 12/15/24 The adoption of this guidance is not expected to have a material impact on the Company’s results of operations, financial position or disclosures. ASU 2023-09 Income Taxes (Topic 740) The ASU provides amendments to improve the transparency of income tax disclosures. January 1, 2025 The adoption of this guidance is not expected to have a material impact on the Company’s results of operations, financial position or disclosures. ASU 2024-01 Compensation—Stock Compensation (Topic 718) The ASU adds an illustrative example (with four fact patterns) on how an entity would apply Accounting Standards Codification (ASC) 718 scope guidance. January 1, 2025 The adoption of this guidance is not expected to have a material impact on the Company’s results of operations, financial position or disclosures. ASU 2024-02 Codification Improvements Amendments to Remove References to Concepts Statements The ASU removes references to various Concepts Statements. In most instances, the references are extraneous and not required to understand or apply the guidance. In other instances, the references are a substitute for actual wording from a Concepts Statement. In most cases, the ASU is not intended to result in significant accounting changes for most entities. January 1, 2025 The adoption of this guidance is not expected to have a material impact on the Company’s results of operations, financial position or disclosures. Other accounting standards that have been issued or proposed by FASB or other standards-setting bodies are not expected to have a material impact on the Company’s results of operations, financial position or disclosures.
Reclassification	Certain amounts in the 2023 consolidated financial statements have been reclassified to conform to the 2024 presentation. These reclassifications did not have any impact on shareholders’ equity or net earnings.

Comprehensive Income (Tables)

Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2024
Comprehensive Income
Schedule Of changes in accumulated other comprehensive loss	For the three months ended For the six months ended (dollars in thousands) June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Beginning balance $ (39,310 ) $ (38,424 ) $ (39,365 ) $ (47,597 ) Other comprehensive loss before reclassifications, net (679 ) (5,319 ) (624 ) 1,938 Amounts reclassified from accumulated other comprehensive loss, net - - - 1,916 Net current period other comprehensive loss (679 ) (5,319 ) (624 ) 3,854 Ending balance $ (39,989 ) $ (43,743 ) $ (39,989 ) $ (43,743 )

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Net Earnings Per Share
Reconciliations Of The Amounts Used In The Computation Of Both Basic Earnings Per Common Share And Diluted Earnings Per Common Share	For the three months ended June 30, 2024 Net Earnings (Dollars in thousands) Weighted Average Number of Shares Per Share Amount Basic earnings per share $ 4,888 5,290,856 $ 0.93 Effect of dilutive securities: Restricted stock units - unvested 19,886 Shares held in deferred comp plan by deferred compensation trust 165,608 Diluted earnings per share $ 4,888 5,476,350 $ 0.89 For the six months ended June 30, 2024 Net Earnings (Dollars in thousands) Weighted Average Number of Shares Per Share Amount Basic earnings per share $ 8,836 5,304,763 $ 1.67 Effect of dilutive securities: Restricted stock units - unvested 19,015 Shares held in deferred comp plan by deferred compensation trust 164,975 Diluted earnings per share $ 8,836 5,488,753 $ 1.61 For the three months ended June 30, 2023 Net Earnings (Dollars in thousands) Weighted Average Number of Shares Per Share Amount Basic earnings per share $ 4,808 5,451,521 $ 0.88 Effect of dilutive securities: Restricted stock units - unvested 20,636 Shares held in deferred comp plan by deferred compensation trust 161,749 Diluted earnings per share $ 4,808 5,633,906 $ 0.85 Net Earnings (Dollars in thousands) Weighted Average Number of Shares Per Share Amount Basic earnings per share $ 7,980 5,463,495 $ 1.46 Effect of dilutive securities: Restricted stock units - unvested 18,812 Shares held in deferred comp plan by deferred compensation trust 167,073 Diluted earnings per share $ 7,980 5,649,380 $ 1.41

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2024
Investment Securities
Investment securities available for sale	(Dollars in thousands) June 30, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasuries $ 7,978 - 872 7,106 U.S. Government sponsored enterprises 10,163 - 590 9,573 GSE - Mortgage-backed securities 257,268 176 23,296 234,148 Private label mortgage-backed securities 39,971 11 1,854 38,128 State and political subdivisions 129,796 - 25,491 104,305 Total $ 445,176 187 52,103 393,260 (Dollars in thousands) December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasuries $ 10,974 - 830 10,144 U.S. Government sponsored enterprises 11,111 - 596 10,515 GSE - Mortgage-backed securities 257,705 185 22,988 234,902 Private label mortgage-backed securities 33,317 16 2,063 31,270 State and political subdivisions 129,922 - 24,829 105,093 Total $ 443,029 201 51,306 391,924
current fair value and associated unrealized losses on investments in debt securities with unrealized losses	(Dollars in thousands) June 30, 2024 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasuries $ - - 7,106 872 7,106 872 U.S. government sponsored enterprises - - 9,573 590 9,573 590 GSE -Mortgage-backed securities 10,239 144 210,829 23,152 221,068 23,296 Private label mortgage-backed securities 6,884 46 25,467 1,808 32,351 1,854 State and political subdivisions - - 104,305 25,491 104,305 25,491 Total $ 17,123 190 357,280 51,913 374,403 52,103 (Dollars in thousands) December 31, 2023 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Treasuries $ - - 10,144 830 10,144 830 U.S. government sponsored enterprises - - 10,515 596 10,515 596 GSE -Mortgage-backed securities 24,167 546 203,234 22,442 227,401 22,988 Private label mortgage-backed securities 3,416 43 23,095 2,020 26,511 2,063 State and political subdivisions - - 105,093 24,829 105,093 24,829 Total $ 27,583 589 352,081 50,717 379,664 51,306
Amortized cost and estimated fair value of investment securities available for sale by contractual maturity	June 30, 2024 (Dollars in thousands) Amortized Cost Fair Value Due within one year $ 2,997 2,951 Due from one to five years 17,620 15,955 Due from five to ten years 59,340 49,675 Due after ten years 107,951 90,531 Mortgage-backed securities 257,268 234,148 Total $ 445,176 393,260

Loans (Tables)

Loans (Tables)	6 Months Ended
	Jun. 30, 2024
Loans
Major classifications of loans	(Dollars in thousands) June 30, 2024 December 31, 2023 Real estate loans: Construction and land development $ 119,606 136,401 Single-family residential 376,657 372,825 Commercial 456,088 425,820 Multifamily and farmland 70,701 63,042 Total real estate loans 1,023,052 998,088 Loans not secured by real estate: Commercial 64,464 70,544 Farm 523 550 Consumer 6,483 6,966 All other 16,150 16,918 Total loans 1,110,672 1,093,066 Less allowance for credit losses (10,016 ) (11,041 ) Total net loans $ 1,100,656 1,082,025
Age analysis of past due loans, by loan type	June 30, 2024 (Dollars in thousands) Loans 30-89 Days Past Due Nonaccrual Loans Total Past Due Loans Total Current Loans Total Loans Accruing Loans 90 or More Days Past Due Real estate loans: Construction and land development $ - 41 41 119,565 119,606 - Single-family residential 1,965 3,779 5,744 370,913 376,657 - Commercial 1,025 - 1,025 455,063 456,088 - Multifamily and farmland - 69 69 70,632 70,701 - Total real estate loans 2,990 3,889 6,879 1,016,173 1,023,052 - Loans not secured by real estate: Commercial 83 252 335 64,129 64,464 - Farm - - - 523 523 - Consumer 19 15 34 6,449 6,483 - All other - - - 16,150 16,150 - Total loans $ 3,092 4,156 7,248 1,103,424 1,110,672 - December 31, 2023 (Dollars in thousands) Loans 30-89 Days Past Due Nonaccrual Loans Total Past Due Loans Total Current Loans Total Loans Accruing Loans 90 or More Days Past Due Real estate loans: Construction and land development $ 5 45 50 136,351 136,401 - Single-family residential 3,761 3,302 7,063 365,762 372,825 - Commercial 13 - 13 425,807 425,820 - Multifamily and farmland - 76 76 62,966 63,042 - Total real estate loans 3,779 3,423 7,202 990,886 998,088 - Loans not secured by real estate: Commercial 125 463 588 69,956 70,544 - Farm - 1 1 549 550 - Consumer 63 - 63 6,903 6,966 - All other - - - 16,918 16,918 - Total loans $ 3,967 3,887 7,854 1,085,212 1,093,066 -
Non-accrual loans	June 30, 2024 Nonaccrual Loans Nonaccrual Loans Total With No With Nonaccrual (Dollars in thousands) Allowance Allowance Loans Real estate loans: Construction and land development $ 41 - 41 Single-family residential 3,779 - 3,779 Multifamily and farmland 69 - 69 Total real estate loans 3,889 - 3,889 Loans not secured by real estate: Commercial 252 - 252 Consumer 15 - 15 Total $ 4,156 - 4,156 December 31, 2023 Nonaccrual Loans Nonaccrual Loans Total With No With Nonaccrual (Dollars in thousands) Allowance Allowance Loans Real estate loans: Construction and land development $ 45 - 45 Single-family residential 3,302 - 3,302 Multifamily and farmland 76 - 76 Total real estate loans 3,423 - 3,423 Loans not secured by real estate: Commercial 31 432 463 Consumer 1 - 1 Total $ 3,455 432 3,887
Amortized cost basis of the loans to borrowers	(Dollars in thousands) Amortized Cost Basis at June 30, 2024 % of Loan Class Modification Type Financial Effect Loan class: Single-family residential 201 0.05 % Interest rate reduction Adjustable rate loan converted to fixed rate loan Commercial not secured by real estate 73 0.11 % Term extension Line of credit converted to amortizing term loan Total $ 274 (Dollars in thousands) Amortized Cost Basis at June 30, 2023 % of Loan Class Modification Type Financial Effect Loan class: Single-family residential 157 0.05 % Term extension Forbearance agreement on matured home equity line of credit (HELOC) that was modified to 180 month term. Commercial real estate 680 0.16 % Term extension Extended existing amortization from 148 months to 173 months to keep existing payment the same with the current market rate. Total $ 837
Changes in the allowance for loan losses	(Dollars in thousands) Real Estate Loans Construction and Land Development Single-Family Residential Commercial Multifamily and Farmland Commercial Farm Consumer and All Other Total Three months ended June 30, 2024 Allowance for credit losses: Beginning balance $ 3,680 3,597 2,345 313 672 2 238 10,847 Charge-offs - (126 ) - - (301 ) - (145 ) (572 ) Recoveries - 15 1 - 34 - 26 76 Provision (recovery) for loan losses (1) (362 ) (2 ) 28 (42 ) (37 ) (1 ) 81 (335 ) Ending balance $ 3,318 3,484 2,374 271 368 1 200 10,016 Allowance for credit loss-loans $ 3,318 3,484 2,374 271 368 1 200 10,016 Allowance for credit losses loan commitments 1,541 1 1 - 19 - 3 1,565 Total allowance for credit losses $ 4,859 3,485 2,375 271 387 1 203 11,581 Six months ended June 30, 2024 Allowance for credit losses: Beginning balance $ 3,913 3,484 2,317 268 812 2 245 11,041 Charge-offs - (126 ) - - (747 ) - (355 ) (1,228 ) Recoveries - 71 203 - 39 - 62 375 Provision (recovery) for loan losses (1) (595 ) 55 (146 ) 3 264 (1 ) 248 (172 ) Ending balance $ 3,318 3,484 2,374 271 368 1 200 10,016 Allowance for credit loss-loans $ 3,318 3,484 2,374 271 368 1 200 10,016 Allowance for credit losses loan commitments 1,541 1 1 - 19 - 3 1,565 Total allowance for credit losses $ 4,859 3,485 2,375 271 387 1 203 11,581 (1) Excludes provision for credit losses related to unfunded commitments. Note 8,"Commitments and Contingencies" in the condensed consolidated financial statements provides more detail concerning the provision for credit losses related to unfunded commitments. (Dollars in thousands) Real Estate Loans Construction and Land Development Single-Family Residential Commercial Multifamily and Farmland Commercial Farm Consumer and All Other Unallocated Total Three months ended June 30, 2023 Allowance for credit losses: Beginning balance $ 3,249 3,191 2,244 298 348 1 286 - 9,617 Charge-offs - - - - (35 ) - (142 ) - (177 ) Recoveries - 111 1 - 23 - 23 - 158 Provision (recovery) for loan losses (1) (22 ) - 120 (10 ) 31 1 71 - 191 Ending balance $ 3,227 3,302 2,365 288 367 2 238 - 9,789 Allowance for credit loss-loans $ 3,227 3,302 2,365 288 367 2 238 - 9,789 Allowance for credit losses loan commitments 2,166 88 - - - 1 4 - 2,259 Total allowance for credit losses $ 5,393 3,390 2,365 288 367 3 242 - 12,048 Six months ended June 30, 2023 Allowance for credit losses: Beginning balance $ 1,415 3,085 3,207 164 657 - 214 1,752 10,494 Adjustment for CECL implementation (1) 1,584 64 (986 ) 115 (295 ) 2 48 (1,752 ) (1,220 ) Charge-offs - - - - (35 ) - (308 ) - (343 ) Recoveries - 123 3 - 32 - 82 - 240 Provision (recovery) for loan losses (1) 228 30 141 9 8 - 202 - 618 Ending balance $ 3,227 3,302 2,365 288 367 2 238 - 9,789 Allowance for credit loss-loans $ 3,227 3,302 2,365 288 367 2 238 - 9,789 Allowance for credit losses loan commitments 2,166 88 - - - 1 4 - 2,259 Total allowance for credit losses $ 5,393 3,390 2,365 288 367 3 242 - 12,048 (1) Excludes adjustment for CECL implemenation and provision for credit losses related to unfunded commitments. Note 8,"Commitments and Contingencies" in the condensed consolidated financial statements provides more detail concerning the implementation adjustment and provision for credit losses related to unfunded commitments.
Summary of credit quality indicator, loan class and year of origination, gross loan charge-offs	Gross Loan Charge-offs by Origination Year Revolving Loans (dollars in thousands) Revolving Converted to Total 2024 2023 2022 2021 2020 Prior Loans Term Loans Loans Real estate loans: Construction and land development $ - 126 - - - - - - 126 Single-family residential - - - - - - - - - Commercial - - - - - - - - - Multifamily and farmland - - - - - - - - - Total real estate loans - 126 - - - - - - 126 Loans not secured by real estate: Commercial - 347 397 3 - - - - 747 Consumer - 10 4 - - 234 - - 248 All other - - - - - 107 - - 107 Total gross charge-offs $ - 483 401 3 - 341 - - 1,228 Gross Loan Charge-offs by Origination Year Revolving Loans (dollars in thousands) Revolving Converted to Total 2023 2022 2021 2020 2019 Prior Loans Term Loans Loans Real estate loans: Construction and land development $ - - - - - - - - - Single-family residential - - - - - - - - - Commercial - - - - - - - - - Multifamily and farmland - - - - - - - - - Total real estate loans - - - - - - - - - Loans not secured by real estate: Commercial - 49 51 16 - 13 - - 129 Farm - - - - - - - - - Consumer - 41 53 6 1 468 - - 569 All other - - - - - - - - - Total gross charge-offs $ - 90 104 22 1 481 - - 698
Schedule of credit quality indicator	Term Loans by Origination Year Revolving Loans (dollars in thousands) Revolving Converted to Total 2024 2023 2022 2021 2020 Prior Loans Term Loans Loans June 30, 2024 Real Estate Loans Construction and land development Pass $ 16,265 37,245 46,498 7,690 6,388 4,727 268 - 119,081 Watch - - - 446 - - - - 446 Substandard - - - - - 79 - - 79 Total Construction and land development $ 16,265 37,245 46,498 8,136 6,388 4,806 268 - 119,606 Single family Pass $ 10,133 33,974 76,532 46,097 22,691 71,769 107,734 - 368,930 Watch - - - - - 1,536 993 - 2,529 Substandard - - 661 - - 4,315 222 - 5,198 Total single family $ 10,133 33,974 77,193 46,097 22,691 77,620 108,949 - 376,657 Commercial Pass $ 36,985 45,955 119,567 78,229 60,282 109,391 2,212 - 452,621 Watch - - - - - 3,062 - - 3,062 Substandard - - - - - 405 - - 405 Total commercial $ 36,985 45,955 119,567 78,229 60,282 112,858 2,212 - 456,088 Multifamily and farmland Pass $ 214 8,702 21,287 21,141 6,336 12,473 434 - 70,587 Watch - - - - - 45 - - 45 Substandard - - - - - 69 - - 69 Total multifamily and farmland $ 214 8,702 21,287 21,141 6,336 12,587 434 - 70,701 Total real estate loans $ 63,597 125,876 264,545 153,603 95,697 207,871 111,863 - 1,023,052 Loans not secured by real estate Commercial Pass $ 5,922 10,305 12,915 3,994 2,063 13,848 14,125 - 63,172 Watch - 558 - 73 276 127 6 - 1,040 Substandard - 29 223 - - - - - 252 Total Commercial $ 5,922 10,892 13,138 4,067 2,339 13,975 14,131 - 64,464 Farm Pass $ 59 163 23 61 - 12 205 - 523 Watch - - - - - - - - - Substandard - - - - - - - - - Total farm $ 59 163 23 61 - 12 205 - 523 Consumer Pass $ 953 1,593 1,001 247 148 95 2,406 - 6,443 Watch - - 23 - - - - - 23 Substandard - - - - - 14 3 - 17 Total consumer $ 953 1,593 1,024 247 148 109 2,409 - 6,483 All other Pass $ 616 - 6,318 425 244 3,153 5,261 - 16,017 Watch - - - - - 133 - - 133 Substandard - - - - - - - - - Total all other $ 616 - 6,318 425 244 3,286 5,261 - 16,150 Total loans not secured by real estate $ 7,550 12,648 20,503 4,800 2,731 17,382 22,006 - 87,620 Total loans $ 71,147 138,524 285,048 158,403 98,428 225,253 133,869 - 1,110,672 Term Loans by Origination Year Revolving Loans (dollars in thousands) Revolving Converted to Total 2023 2022 2021 2020 2019 Prior Loans Term Loans Loans December 31, 2023 Real Estate Loans Construction and land development Pass $ 40,034 71,429 10,736 6,692 1,721 3,914 1,337 - 135,863 Watch - - 448 - - - - - 448 Substandard - - - - - 90 - - 90 Total Construction and land development $ 40,034 71,429 11,184 6,692 1,721 4,004 1,337 - 136,401 Single family Pass $ 32,333 76,326 47,490 24,813 12,984 64,847 106,962 - 365,755 Watch - - - - 89 1,389 860 - 2,338 Substandard - - - - 11 4,342 379 - 4,732 Total single family $ 32,333 76,326 47,490 24,813 13,084 70,578 108,201 - 372,825 Commercial Pass $ 45,755 109,255 78,645 61,973 29,579 92,753 2,158 - 420,118 Watch 232 - - 116 - 4,943 - - 5,291 Substandard - - - 411 - - - - 411 Total commercial $ 45,987 109,255 78,645 62,500 29,579 97,696 2,158 - 425,820 Multifamily and farmland Pass $ 7,987 13,286 21,512 6,624 3,158 9,851 501 - 62,919 Watch - - - - - 47 - - 47 Substandard - - - - - 76 - - 76 Total multifamily and farmland $ 7,987 13,286 21,512 6,624 3,158 9,974 501 - 63,042 Total real estate loans $ 126,341 270,296 158,831 100,629 47,542 182,252 112,197 - 998,088 Loans not secured by real estate Commercial Pass $ 9,561 14,122 4,841 2,942 2,232 12,030 23,411 - 69,139 Watch - - - - 57 102 783 - 942 Substandard 31 - - - - - - - 31 Loss - 82 - - - - 350 432 Total Commercial $ 9,592 14,204 4,841 2,942 2,289 12,132 24,544 - 70,544 Farm Pass $ 198 42 83 - 1 27 199 - 550 Watch - - - - - - - - - Substandard - - - - - - - - - Total farm $ 198 42 83 - 1 27 199 - 550 Consumer Pass $ 2,262 1,352 404 222 72 58 2,591 - 6,961 Watch - - - - - - - - - Substandard - - 2 - - - 3 - 5 Total consumer $ 2,262 1,352 406 222 72 58 2,594 - 6,966 All other Pass $ 79 6,401 474 274 599 3,698 5,256 - 16,781 Watch - - - - - 74 63 - 137 Substandard - - - - - - - - - Total all other $ 79 6,401 474 274 599 3,772 5,319 - 16,918 Total loans not secured by real estate $ 12,131 21,999 5,804 3,438 2,961 15,989 32,656 - 94,978 Total loans $ 138,472 292,295 164,635 104,067 50,503 198,241 144,853 - 1,093,066
Schedule Of Financial difficulty of performance of loans	June 30, 2024 (Dollars in thousands) Payment Status (Amortized Cost Basis) Current 30 - 89 Days Past Due 90 + Days Past Due Loan type: Single-family residential 201 Commercial not secured by real estate 73 - - Total $ 274 - - June 30, 2023 (Dollars in thousands) Payment Status (Amortized Cost Basis) Current 30 - 89 Days Past Due 90 + Days Past Due Loan type: Single-family residential 157 - - Commercial real estate 680 - - Total $ 837 - -

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases
Lease expense	(Dollars in thousands) June 30, 2024 June 30, 2023 Operating lease cost $ 420 $ 396 Other information: Cash paid for amounts included in the measurement of lease liabilities 408 382 Operating cash flows from operating leases - - Right-of-use assets obtained in exchange for new lease liabilities - operating leases - 348 Weighted-average remaining lease term - operating leases 8.16 8.81 Weighted-average discount rate - operating leases 2.76 % 2.69 %
Maturity analysis of operating lease liabilities	(Dollars in thousands) Maturity Analysis of Operating Lease Liabilities: June 30, 2024 2024 $ 410 2025 773 2026 650 2027 612 2028 510 Thereafter 2,116 Total 5,071 Less: Imputed Interest (584 ) Operating Lease Liability $ 4,487

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments And Contingencies Disclosure Abstract
Financial instruments with credit risk	(Dollars in thousands) Contractual Amount 06/30/24 12/31/23 Financial instruments whose contract amount represent credit risk: Commitments to extend credit $ 372,753 367,482 Standby letters of credit $ 3,810 3,721
Schedule Of allowance for credit losses	(dollars in thousands) For three months ended For six months ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Beginning Balance $ 1,698 $ 2,075 $ 1,770 $ - Cummulative effect of change in accounting principle - - - 2,278 Provision for (recovery of) credit losses (133 ) 184 (205 ) (19 ) Ending balance $ 1,565 $ 2,259 $ 1,565 $ 2,259

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value
financial instruments measured at fair value on a recurring basis by level within the fair value hierarchy	(Dollars in thousands) June 30, 2024 Fair Value Level 1 Valuation Level 2 Valuation Level 3 Valuation U.S. Treasuries $ 7,106 - 7,106 - U.S. Government sponsored enterprises 9,573 - 9,573 - GSE - Mortgage-backed securities 234,148 - 234,148 - Private label mortgage-backed securities 38,128 - 38,128 - State and political subdivisions 104,305 - 104,305 - (Dollars in thousands) December 31, 2023 Fair Value Level 1 Valuation Level 2 Valuation Level 3 Valuation U.S. Treasuries $ 10,144 - 10,144 - U.S. Government sponsored enterprises 10,515 10,515 GSE - Mortgage-backed securities 234,902 - 234,902 - Private label mortgage-backed securities 31,270 - 31,270 - State and political subdivisions 105,093 - 105,093 -
Carrying amount and estimated fair value of the Company's financial instruments	(Dollars in thousands) Fair Value Measurements at June 30, 2024 Carrying Amount Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 82,835 82,835 - - 82,835 Investment securities available for sale 393,260 - 393,260 - 393,260 Other investments 2,779 - - 2,779 2,779 Mortgage loans held for sale 1,288 - 1,288 - 1,288 Loans, net 1,100,656 - - 1,092,244 1,092,244 Mutual funds held in deferred compensation trust 2,387 2,387 - - 2,387 Liabilities: Deposits $ 1,475,956 - 1,479,261 - 1,479,261 Securities sold under agreements to repurchase 18,824 - 18,824 - 18,824 Junior subordinated debentures 15,464 - 15,464 - 15,464 Fair Value Measurements at December 31, 2023 Carrying Amount Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 82,375 82,375 - - 82,375 Investment securities available for sale 391,924 - 391,924 - 391,924 Other investments 2,874 - - 2,874 2,874 Mortgage loans held for sale 686 - 686 - 686 Loans, net 1,082,025 - - 1,071,178 1,071,178 Mutual funds held in deferred compensation trust 2,171 2,171 - - 2,171 Liabilities: Deposits $ 1,392,045 - 1,397,351 - 1,397,351 Securities sold under agreements to repurchase 86,715 - 86,715 - 86,715 Junior subordinated debentures 15,464 - 15,464 - 15,464
summary of fair value measurements for mortgage loans held for sale and individually evaluated loans on a non-recurring basis	(Dollars in thousands) Fair Value Measurements June 30, 2024 Level 1 Valuation Level 2 Valuation Level 3 Valuation Individually evaluated loans $ - - - - (Dollars in thousands) Fair Value Measurements December 31, 2023 Level 1 Valuation Level 2 Valuation Level 3 Valuation Individually evaluated loans $ - - - - (Dollars in thousands) Fair Value June 30, 2024 Fair Value December 31, 2023 Valuation Technique Significant Unobservable Inputs General Range of Significant Unobservable Input Values Individually evaluated loans $ - $ - Appraised value Discounts to reflect current market conditions and ultimate collectability 0 - 25%

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2024
Reportable Segments
presents financial information for the reportable segments	(Dollars in thousands) Banking Operations CBRES Other Consolidated As of and for the three months ended June 30, 2024 Interest income $ 20,060 $ - $ 10 $ 20,070 Interest expense 6,371 - 283 6,654 Net interest income 13,689 - (273 ) 13,416 Provision for (recovery of) credit losses (468 ) - - (468 ) Noninterest income 4,340 - - 4,340 Appraisal management fee income - 3,181 - 3,181 Noninterest expense 12,019 399 190 12,608 Appraisal management fee expense - 2,523 - 2,523 Income tax expense (benefit) 1,423 60 (97 ) 1,386 Net income (loss) $ 5,055 $ 199 $ (366 ) $ 4,888 Total assets $ 1,650,872 $ 4,035 $ 491 $ 1,655,398 As of and for the three months ended June 30, 2023 Interest income $ 17,591 $ - $ 8 $ 17,599 Interest expense 3,569 - 259 3,828 Net interest income 14,022 - (251 ) 13,771 Provision for (recovery of) credit losses 375 - - 375 Noninterest income 3,813 - - 3,813 Appraisal management fee income - 2,590 - 2,590 Noninterest expense 11,038 360 172 11,570 Appraisal management fee expense - 2,049 - 2,049 Income tax expense (benefit) 1,418 42 (88 ) 1,372 Net income (loss) $ 5,004 $ 139 $ (335 ) $ 4,808 Total assets $ 1,606,211 $ 3,511 $ 1,852 $ 1,611,574 As of and for the six months ended June 30, 2024 Interest income $ 39,861 $ - $ 19 $ 39,880 Interest expense 12,593 - 567 13,160 Net interest income 27,268 - (548 ) 26,720 Provision for (recovery of) credit losses (377 ) - - (377 ) Noninterest income 7,964 - - 7,964 Appraisal management fee income - 5,595 - 5,595 Noninterest expense 24,125 743 352 25,220 Appraisal management fee expense - 4,427 - 4,427 Income tax expense (benefit) 2,264 98 (189 ) 2,173 Net income (loss) $ 9,220 $ 327 $ (711 ) $ 8,836 Total assets $ 1,650,872 $ 4,035 $ 491 $ 1,655,398 As of and for the six months ended June 30, 2023 Interest income $ 34,384 $ - $ 16 $ 34,400 Interest expense 5,784 - 507 6,291 Net interest income 28,600 - (491 ) 28,109 Provision for (recovery of) credit losses 599 - - 599 Noninterest income 5,330 - - 5,330 Appraisal management fee income - 4,684 - 4,684 Noninterest expense 22,602 694 326 23,622 Appraisal management fee expense - 3,699 - 3,699 Income tax expense (benefit) 2,327 67 (171 ) 2,223 Net income (loss) $ 8,402 $ 224 $ (646 ) $ 7,980 Total assets $ 1,606,211 $ 3,511 $ 1,852 $ 1,611,574

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Comprehensive Income
Comprehensive income, Beginning balance	$ (39,310)		$ (38,424)		$ (39,365)	$ (47,597)
Other comprehensive loss before reclassifications, net	(679)		(5,319)		(624)	1,938
Amounts reclassified from accumulated other comprehensive loss, net	0		0		0	1,916
Net current period other comprehensive loss	(679)	$ 55	(5,319)	$ 9,173	(624)	3,854
Comprehensive income, Ending balance	$ (39,989)		$ (43,743)		$ (39,989)	$ (43,743)

Net Earnings Per Share (Details

Net Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net Earnings Per Share
Basic Earnings Per Share	$ 4,888	$ 4,808	$ 8,836	$ 7,980
Net Earnings
Diluted Earnings Per Share	$ 4,888	$ 4,808	$ 8,836	$ 7,980
Weighted Average Number Of Shares
Basic Earnings Per Share (in Shares)	5,290,856	5,451,521	5,304,763	5,463,495
Effect Of Dilutive Securities: Restricted Stock Units - unvested	19,886	20,636	19,015	18,812
Effect Of Dilutive Securities: Shares Held In Deferred Comp Plan By Deferred Compensation Trust	165,608	161,749	164,975	167,073
Diluted Earnings Per Share (in Shares)	5,476,350	5,633,906	5,488,753	5,649,380
Per Share Amount
Basic Earnings Per Share	$ 0.93	$ 0.88	$ 1.67	$ 1.46
Diluted Earnings Per Share	$ 0.89	$ 0.85	$ 1.61	$ 1.41

Investment Securities (Details)

Investment Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Amortized cost	$ 445,176	$ 443,029
Gross unrealized gains	187	201
Gross unrealized losses	52,103	51,306
Estimated fair value	393,260	391,924
GSE - Mortgage-backed securities
Amortized cost	257,268	257,705
Gross unrealized gains	176	185
Gross unrealized losses	23,296	22,988
Estimated fair value	234,148	234,902
U.S. Government sponsored enterprises
Amortized cost	10,163	11,111
Gross unrealized gains	0	0
Gross unrealized losses	590	596
Estimated fair value	9,573	10,515
State and political subdivisions
Amortized cost	129,796	129,922
Gross unrealized gains	0	0
Gross unrealized losses	25,491	24,829
Estimated fair value	104,305	105,093
U.S Treasuries [Member]
Amortized cost	7,978	10,974
Gross unrealized gains	0	0
Gross unrealized losses	872	830
Estimated fair value	7,106	10,144
Private label mortgage backed securities
Amortized cost	39,971	33,317
Gross unrealized gains	11	16
Gross unrealized losses	1,854	2,063
Estimated fair value	$ 38,128	$ 31,270

Investment Securities (Details

Investment Securities (Details 1) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair value, Less than 12 months	$ 17,123	$ 27,583
Unrealized Losses, Less than 12 Months	190	589
Fair value, 12 months or more	357,280	352,081
Unrealized Losses, 12 Months or More	51,913	50,717
Fair value, total	374,403	379,664
Unrealized Losses, total	52,103	51,306
GSE - Mortgage-backed securities
Fair value, Less than 12 months	10,239	24,167
Unrealized Losses, Less than 12 Months	144	546
Fair value, 12 months or more	210,829	203,234
Unrealized Losses, 12 Months or More	23,152	22,442
Fair value, total	221,068	227,401
Unrealized Losses, total	23,296	22,988
U.S. Government sponsored enterprises
Fair value, Less than 12 months	0	0
Unrealized Losses, Less than 12 Months	0	0
Fair value, 12 months or more	9,573	10,515
Unrealized Losses, 12 Months or More	590	596
Fair value, total	9,573	10,515
Unrealized Losses, total	590	596
State and political subdivisions
Fair value, Less than 12 months	0	0
Unrealized Losses, Less than 12 Months	0	0
Fair value, 12 months or more	104,305	105,093
Unrealized Losses, 12 Months or More	25,491	24,829
Fair value, total	104,305	105,093
Unrealized Losses, total	25,491	24,829
U.S Treasuries [Member]
Fair value, Less than 12 months	0	0
Unrealized Losses, Less than 12 Months	0	0
Fair value, 12 months or more	7,106	10,144
Unrealized Losses, 12 Months or More	872	830
Fair value, total	7,106	10,144
Unrealized Losses, total	872	830
Private label mortgage backed securities
Fair value, Less than 12 months	6,884	3,416
Unrealized Losses, Less than 12 Months	46	43
Fair value, 12 months or more	25,467	23,095
Unrealized Losses, 12 Months or More	1,808	2,020
Fair value, total	32,351	26,511
Unrealized Losses, total	$ 1,854	$ 2,063

Investment Securities (Detail_2

Investment Securities (Details 2) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Total	$ 445,176	$ 443,029
Amortized Cost
Due within one year	2,997
Due from one to five years	17,620
Due from five to ten years	59,340
Due after ten years	107,951
Mortgage-backed securities	257,268
Total	445,176
Estimated Fair Value
Due within one year	2,951
Due from one to five years	15,955
Due from five to ten years	49,675
Due after ten years	90,531
Mortgage-backed securities	234,148
Total	$ 393,260

Investment Securities (Detail_3

Investment Securities (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Dec. 31, 2023
Investment Securities
Securities pledged to secure public deposits		$ 61,300,000	$ 132,000,000
Unrealized losses in the investment securites portfolio relating to debt securities		$ 52,100,000	$ 51,300,000
Proceeds from sales of investment securities available for sale	$ 51,000,000
Gross gains	177,000
Gains on sales of available for sale securities	$ 2,700,000

Loans (Details)

Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Total Loans	$ 1,110,672	$ 1,093,066
Less allowance for credit losse	(10,016)	(11,041)
Net loans	1,100,656	1,082,025
Farm Loans (Not Secured by Real Estate)
Total Loans	523	550
Net loans	523	550
All Other Loans (Not Secured by Real Estate)
Total Loans	16,150	16,918
Net loans	16,150	16,918
Construction and Land Development
Total Loans	119,606	136,401
Net loans	119,606	136,401
Single-Family Residential
Total Loans	376,657	372,825
Commercial
Total Loans	456,088	425,820
Net loans	456,088	425,820
Multifamily and Farmland
Total Loans	70,701	63,042
Net loans	70,701	63,042
Total Real Estate Loans
Total Loans	1,023,052	998,088
Commercial Loans (Not Secured by Real Estate)
Total Loans	64,464	70,544
Net loans	64,464	70,544
Consumer Loans (Not Secured by Real Estate)
Total Loans	6,483	6,966
Net loans	$ 6,483	$ 6,966

Loans (Details 1)

Loans (Details 1) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Total Loans	$ 1,110,672,000	$ 1,093,066,000
Farm Loans (Not Secured by Real Estate)
Loans 30-89 Days Past Due	0	0
Nonaccrual	0	1,000
Total Past Due Loans	0	1,000
Total Current Loans	523,000	549,000
Total Loans	523,000	550,000
Loans 90 Or More Days Past Due	0	0
All Other Loans (Not Secured by Real Estate)
Loans 30-89 Days Past Due	0	0
Nonaccrual	0	0
Total Past Due Loans	0	0
Total Current Loans	16,150,000	16,918,000
Total Loans	16,150,000	16,918,000
Loans 90 Or More Days Past Due	0	0
Construction and Land Development
Loans 30-89 Days Past Due	0	5,000
Nonaccrual	41,000	45,000
Total Past Due Loans	41,000	50,000
Total Current Loans	119,565,000	136,351,000
Total Loans	119,606,000	136,401,000
Loans 90 Or More Days Past Due	0	0
Single-Family Residential
Loans 30-89 Days Past Due	1,965,000	3,761,000
Nonaccrual	3,779,000	3,302,000
Total Past Due Loans	5,744,000	7,063,000
Total Current Loans	370,913,000	365,762,000
Total Loans	376,657,000	372,825,000
Loans 90 Or More Days Past Due	0	0
Commercial
Loans 30-89 Days Past Due	1,025,000	13,000
Nonaccrual	0	0
Total Past Due Loans	1,025,000	13,000
Total Current Loans	455,063,000	425,807,000
Total Loans	456,088,000	425,820,000
Loans 90 Or More Days Past Due	0	0
Multifamily and Farmland
Loans 30-89 Days Past Due	0	0
Nonaccrual	69,000	76,000
Total Past Due Loans	69,000	76,000
Total Current Loans	70,632,000	62,966,000
Total Loans	70,701,000	63,042,000
Loans 90 Or More Days Past Due	0	0
Commercial Loans (Not Secured by Real Estate)
Loans 30-89 Days Past Due	83,000	125,000
Nonaccrual	252,000	463,000
Total Past Due Loans	335,000	588,000
Total Current Loans	64,129,000	69,956,000
Total Loans	64,464,000	70,544,000
Loans 90 Or More Days Past Due	0	0
Consumer Loans (Not Secured by Real Estate)
Loans 30-89 Days Past Due	19,000	63,000
Nonaccrual	15,000	0
Total Past Due Loans	34,000	63,000
Total Current Loans	6,449,000	6,903,000
Total Loans	6,483,000	6,966,000
Loans 90 Or More Days Past Due	0	0
Total Real Estate Loans
Total Loans	1,023,052,000	998,088,000
Total Real Estate [Member] | Loans (Not Secured by Real Estate)
Loans 30-89 Days Past Due	3,092,000	3,967,000
Nonaccrual	4,156,000	3,887,000
Total Past Due Loans	7,248,000	7,854,000
Total Current Loans	1,103,424,000	1,085,212,000
Total Loans	1,110,672,000	1,093,066,000
Total Real Estate [Member] | Total Real Estate Loans
Loans 30-89 Days Past Due	2,990,000	3,779,000
Nonaccrual	3,889,000	3,423,000
Total Past Due Loans	6,879,000	7,202,000
Total Current Loans	1,016,173,000	990,886,000
Total Loans	1,023,052,000	998,088,000
Loans 90 Or More Days Past Due	$ 0	$ 0

Loans (Details 2)

Loans (Details 2) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Non-accrual Loans	$ 0		$ 0
Construction and Land Development
Non accrual loans with no allowance	41,000	$ 45,000
Non accrual loans with allowance	0	0
Non-accrual Loans	41,000	45,000
Single-Family Residential
Non accrual loans with no allowance	3,779,000	3,302,000
Non accrual loans with allowance	0	0
Non-accrual Loans	3,779,000	3,302,000	0
Multifamily and Farmland
Non accrual loans with no allowance	69,000	76,000
Non accrual loans with allowance	0	0
Non-accrual Loans	69,000	76,000
Total Real Estate Loans
Non accrual loans with no allowance	3,889,000	3,423,000
Non accrual loans with allowance	0	0
Non-accrual Loans	3,889,000	3,423,000
Commercial Loans (Not Secured by Real Estate)
Non accrual loans with no allowance	252,000	31,000
Non accrual loans with allowance	0	432,000
Non-accrual Loans	252,000	463,000
Consumer Loans (Not Secured by Real Estate)
Non accrual loans with no allowance	15,000	1,000
Non accrual loans with allowance	0	0
Non-accrual Loans	15,000	1,000
Commercial
Non-accrual Loans	0		$ 0
Commercial | Total Real Estate [Member]
Non accrual loans with no allowance	4,156,000	3,455,000
Non accrual loans with allowance	0	432,000
Non-accrual Loans	$ 4,156,000	$ 3,887,000

Loans (Details 3)

Loans (Details 3) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Amortized Cost	$ 274	$ 837
Single-Family Residential
Amortized Cost	$ 201	$ 157
Description of financial effect	Adjustable rate loan converted to fixed rate loan	Forbearance agreement on matured home equity line of credit (HELOC) that was modified to 180 month term.
Loan Class	0.05%	0.05%
Commercial real estate
Amortized Cost		$ 680
Description of financial effect		Extended existing amortization from 148 months to 173 months to keep existing payment the same with the current market rate.
Loan Class		0.16%
Commercial not secured by real estate
Amortized Cost	$ 73
Description of financial effect	Line of credit converted to amortizing term loan
Loan Class	0.11%

Loans (Details 4)

Loans (Details 4) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Amortized Cost	$ 274,000		$ 837,000
Loans 30-89 Days Past Due	0		0
Single-Family Residential
Amortized Cost	201,000		157,000
Loans 30-89 Days Past Due	3,779,000	$ 3,302,000	0
Commercial
Amortized Cost	73,000		680,000
Loans 30-89 Days Past Due	$ 0		$ 0

Loans (Details 5)

Loans (Details 5) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Beginning Balance	$ 10,847,000	$ 9,617,000	$ 11,041,000	$ 10,494,000
Adjustment for CECL implementation				(1,220,000)
Charge-offs	(572,000)	(177,000)	(1,228,000)	(343,000)
Recoveries	76,000	158,000	375,000	240,000
Provision (recovery) for loan losses	(335,000)	191,000	(172,000)	618,000
Loans, Ending Balance	10,016,000	9,789,000	10,016,000	9,789,000
Allowance for credit loss-loans	10,016,000	9,789,000	10,016,000	9,789,000
Allowance for credit losses loan commitments	1,565,000	2,259,000	1,565,000	2,259,000
Total allowance for credit losses	11,581,000	12,048,000	11,581,000	12,048,000
Unallocated
Adjustment for CECL implementation				(1,752,000)
Charge-offs		0		0
Recoveries		0		0
Provision (recovery) for loan losses		0		0
Loans, Ending Balance		0		0
Allowance for credit loss-loans		0		0
Allowance for credit losses loan commitments		0		0
Total allowance for credit losses		0		0
Beginning Balance		0		1,752,000
Consumer And All Other [Member]
Adjustment for CECL implementation				48,000
Charge-offs	(145,000)	(142,000)	(355,000)	(308,000)
Recoveries	26,000	23,000	62,000	82,000
Provision (recovery) for loan losses	81,000	71,000	248,000	202,000
Loans, Ending Balance	200,000	238,000	200,000	238,000
Allowance for credit loss-loans	200,000	238,000	200,000	238,000
Allowance for credit losses loan commitments	3,000	4,000	3,000	4,000
Total allowance for credit losses	203,000	242,000	203,000	242,000
Beginning Balance	228,000	286,000	245,000	214,000
Commercial Loans (Not Secured by Real Estate)
Adjustment for CECL implementation				(295,000)
Charge-offs	(301,000)	(35,000)	(747,000)	(35,000)
Recoveries	34,000	23,000	39,000	32,000
Provision (recovery) for loan losses	(37,000)	31,000	264,000	8,000
Loans, Ending Balance	368,000	367,000	368,000	367,000
Allowance for credit loss-loans	368,000	367,000	368,000	367,000
Allowance for credit losses loan commitments	19,000	0	19,000	0
Total allowance for credit losses	387,000	367,000	387,000	367,000
Beginning Balance	672,000	348,000	812,000	657,000
Multifamily and Farmland
Adjustment for CECL implementation				115,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision (recovery) for loan losses	(42,000)	(10,000)	3,000	9,000
Loans, Ending Balance	271,000	288,000	271,000	288,000
Allowance for credit loss-loans	271,000	288,000	271,000	288,000
Allowance for credit losses loan commitments	0	0	0	0
Total allowance for credit losses	271,000	288,000	271,000	288,000
Beginning Balance	313,000	298,000	268,000	164,000
Farm Loans (Not Secured by Real Estate)
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision (recovery) for loan losses	(1,000)	1,000	(1,000)	0
Loans, Ending Balance	1,000	2,000	1,000	2,000
Allowance for credit loss-loans	1,000	2,000	1,000	2,000
Allowance for credit losses loan commitments	0	1,000	0	1,000
Total allowance for credit losses	1,000	3,000	1,000	3,000
Beginning Balance	2,000	1,000	2,000	0
Provision (recovery)			0
Allowance For Loan Losses, Ending Balance			2,000	1,000
Construction and Land Development
Beginning Balance	3,680,000	3,249,000	3,913,000	1,415,000
Adjustment for CECL implementation				1,584,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	123,000
Provision (recovery) for loan losses	(362,000)	(22,000)	(595,000)	30,000
Loans, Ending Balance	3,318,000	3,227,000	3,318,000	3,227,000
Allowance for credit loss-loans	3,318,000	3,227,000	3,318,000	3,227,000
Allowance for credit losses loan commitments	1,541,000	2,166,000	4,859,000	1,541,000
Total allowance for credit losses	4,859,000	5,393,000	2,166,000	5,393,000
Single-Family Residential
Adjustment for CECL implementation				64,000
Charge-offs	(126,000)	0	(126,000)	0
Recoveries	15,000	111,000	71,000
Provision (recovery) for loan losses	(2,000)	0	55,000
Loans, Ending Balance	3,484,000	3,302,000	3,484,000	3,302,000
Allowance for credit loss-loans	3,484,000	3,302,000	3,484,000	3,302,000
Allowance for credit losses loan commitments	1,000	88,000		88,000
Total allowance for credit losses	3,485,000	3,390,000	3,485,000	3,390,000
Beginning Balance	3,597,000	3,191,000	3,484,000	3,085,000
Commercial
Adjustment for CECL implementation				(986,000)
Charge-offs	0	0	0	0
Recoveries	1,000	1,000	203,000
Provision (recovery) for loan losses	28,000	120,000	(146,000)	141,000
Loans, Ending Balance	2,374,000	2,365,000	2,374,000	2,365,000
Allowance for credit loss-loans	2,374,000	2,365,000	2,374,000	2,365,000
Allowance for credit losses loan commitments	1,000	0	1,000	0
Total allowance for credit losses	2,375,000	2,365,000	2,375,000	2,365,000
Beginning Balance	$ 2,345,000	$ 2,244,000	$ 2,317,000	$ 3,207,000

Loans (Details 6)

Loans (Details 6) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Total Loans	$ 1,100,656,000	$ 1,082,025,000
Farm Loans (Not Secured by Real Estate)
Term Loans by Origination Prior Year	12,000	27,000
Term Loans by Origination Year 2019		1,000
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	61,000	83,000
Term Loans by Origination Year 2022	23,000	42,000
Term Loans by Origination Year 2023	163,000	198,000
Term Loans by Origination Year 2024	59,000
Revolving Loans	205,000	199,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	523,000	550,000
All Other Loans (Not Secured by Real Estate)
Term Loans by Origination Prior Year	3,286,000	3,772,000
Term Loans by Origination Year 2019		599,000
Term Loans by Origination Year 2020	244,000	274,000
Term Loans by Origination Year 2021	425,000	474,000
Term Loans by Origination Year 2022	6,318,000	6,401,000
Term Loans by Origination Year 2023	0	79,000
Term Loans by Origination Year 2024	616,000
Revolving Loans	5,261,000	5,319,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	16,150,000	16,918,000
Construction and Land Development
Term Loans by Origination Prior Year	4,806,000	4,004,000
Term Loans by Origination Year 2019		1,721,000
Term Loans by Origination Year 2020	6,388,000	6,692,000
Term Loans by Origination Year 2021	8,136,000	11,184,000
Term Loans by Origination Year 2022	46,498,000	71,429,000
Term Loans by Origination Year 2023	37,245,000	40,034,000
Term Loans by Origination Year 2024	16,265,000
Revolving Loans	268,000	1,337,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	119,606,000	136,401,000
Construction and Land Development (Pass)
Term Loans by Origination Prior Year	4,727,000	3,914,000
Term Loans by Origination Year 2019		1,721,000
Term Loans by Origination Year 2020	6,388,000	6,692,000
Term Loans by Origination Year 2021	7,690,000	10,736,000
Term Loans by Origination Year 2022	46,498,000	71,429,000
Term Loans by Origination Year 2023	37,245,000	40,034,000
Term Loans by Origination Year 2024	16,265,000
Revolving Loans	268,000	1,337,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	119,081,000	135,863,000
Construction and Land Development (Watch)
Term Loans by Origination Prior Year	0	0
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	446,000	448,000
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Total Loans	446,000	448,000
Construction and Land Development (Substandard)
Term Loans by Origination Prior Year	79,000	90,000
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Total Loans	79,000	90,000
Farm Loans (Not Secured by Real Estate) (Pass)
Term Loans by Origination Prior Year	12,000	27,000
Term Loans by Origination Year 2019		1,000
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	61,000	83,000
Term Loans by Origination Year 2022	23,000	42,000
Term Loans by Origination Year 2023	163,000	198,000
Term Loans by Origination Year 2024	59,000
Revolving Loans	205,000	199,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	523,000	550,000
Farm Loans (Not Secured by Real Estate) (Watch)
Term Loans by Origination Prior Year	0	0
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Total Loans	0	0
Farm Loans (Not Secured by Real Estate) (Substandard)
Term Loans by Origination Prior Year	0	0
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Total Loans	0	0
All Other Loans (Not Secured by Real Estate) (Pass)
Term Loans by Origination Prior Year	3,153,000	3,698,000
Term Loans by Origination Year 2019		599,000
Term Loans by Origination Year 2020	244,000	274,000
Term Loans by Origination Year 2021	425,000	474,000
Term Loans by Origination Year 2022	6,318,000	6,401,000
Term Loans by Origination Year 2023	0	79,000
Term Loans by Origination Year 2024	616,000
Revolving Loans	5,261,000	5,256,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	16,017,000	16,781,000
All Other Loans (Not Secured by Real Estate) (Watch)
Term Loans by Origination Prior Year	133,000	74,000
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	0	63,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	133,000	137,000
All Other Loans (Not Secured by Real Estate) (Substandard)
Term Loans by Origination Prior Year	0	0
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Total Loans	0	0
Commercial
Term Loans by Origination Prior Year	112,858,000	97,696,000
Term Loans by Origination Year 2019		29,579,000
Term Loans by Origination Year 2020	60,282,000	62,500,000
Term Loans by Origination Year 2021	78,229,000	78,645,000
Term Loans by Origination Year 2022	119,567,000	109,255,000
Term Loans by Origination Year 2023	45,955,000	45,987,000
Term Loans by Origination Year 2024	36,985,000
Revolving Loans	2,212,000	2,158,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	456,088,000	425,820,000
Multifamily and Farmland
Term Loans by Origination Prior Year	12,587,000	9,974,000
Term Loans by Origination Year 2019		3,158,000
Term Loans by Origination Year 2020	6,336,000	6,624,000
Term Loans by Origination Year 2021	21,141,000	21,512,000
Term Loans by Origination Year 2022	21,287,000	13,286,000
Term Loans by Origination Year 2023	8,702,000	7,987,000
Term Loans by Origination Year 2024	214,000
Revolving Loans	434,000	501,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	70,701,000	63,042,000
Commercial Loans (Not Secured by Real Estate)
Term Loans by Origination Prior Year	13,975,000	12,132,000
Term Loans by Origination Year 2019		2,289,000
Term Loans by Origination Year 2020	2,339,000	2,942,000
Term Loans by Origination Year 2021	4,067,000	4,841,000
Term Loans by Origination Year 2022	13,138,000	14,204,000
Term Loans by Origination Year 2023	10,892,000	9,592,000
Term Loans by Origination Year 2024	5,922,000
Revolving Loans	14,131,000	24,544,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	64,464,000	70,544,000
Consumer Loans (Not Secured by Real Estate)
Term Loans by Origination Prior Year	109,000	58,000
Term Loans by Origination Year 2019		72,000
Term Loans by Origination Year 2020	148,000	222,000
Term Loans by Origination Year 2021	247,000	406,000
Term Loans by Origination Year 2022	1,024,000	1,352,000
Term Loans by Origination Year 2023	1,593,000	2,262,000
Term Loans by Origination Year 2024	953,000
Revolving Loans	2,409,000	2,594,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	6,483,000	6,966,000
Single-Family Residential [Member]
Term Loans by Origination Prior Year	77,620,000	70,578,000
Term Loans by Origination Year 2019		13,084,000
Term Loans by Origination Year 2020	22,691,000	24,813,000
Term Loans by Origination Year 2021	46,097,000	47,490,000
Term Loans by Origination Year 2022	77,193,000	76,326,000
Term Loans by Origination Year 2023	33,974,000	32,333,000
Term Loans by Origination Year 2024	10,133,000
Revolving Loans	108,949,000	108,201,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	376,657,000	372,825,000
Single-Family Residential (Pass)
Term Loans by Origination Prior Year	71,769,000	64,847,000
Term Loans by Origination Year 2019		12,984,000
Term Loans by Origination Year 2020	22,691,000	24,813,000
Term Loans by Origination Year 2021	46,097,000	47,490,000
Term Loans by Origination Year 2022	76,532,000	76,326,000
Term Loans by Origination Year 2023	33,974,000	32,333,000
Term Loans by Origination Year 2024	10,133,000
Revolving Loans	107,734,000	106,962,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	368,930,000	365,755,000
Single-Family Residential (Watch)
Term Loans by Origination Prior Year	1,536,000	1,389,000
Term Loans by Origination Year 2019		89,000
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	993,000	860,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	2,529,000	2,338,000
Single-Family Residential (Substandard)
Term Loans by Origination Prior Year	4,315,000	4,342,000
Term Loans by Origination Year 2019		11,000
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	661,000	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	222,000	379,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	5,198,000	4,732,000
Commercial (Pass)
Term Loans by Origination Prior Year	109,391,000	92,753,000
Term Loans by Origination Year 2019		29,579,000
Term Loans by Origination Year 2020	60,282,000	61,973,000
Term Loans by Origination Year 2021	78,229,000	78,645,000
Term Loans by Origination Year 2022	119,567,000	109,255,000
Term Loans by Origination Year 2023	45,955,000	45,755,000
Term Loans by Origination Year 2024	36,985,000
Revolving Loans	2,212,000	2,158,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	452,621,000	420,118,000
Commercial (Watch)
Term Loans by Origination Prior Year	3,062,000	4,943,000
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	116,000
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	0	232,000
Term Loans by Origination Year 2024	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Total Loans	3,062,000	5,291,000
Commercial (Substandard)
Term Loans by Origination Prior Year	405,000	0
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	411,000
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Total Loans	405,000	411,000
Multifamily and Farmland (Pass)
Term Loans by Origination Prior Year	12,473,000	9,851,000
Term Loans by Origination Year 2019		3,158,000
Term Loans by Origination Year 2020	6,336,000	6,624,000
Term Loans by Origination Year 2021	21,141,000	21,512,000
Term Loans by Origination Year 2022	21,287,000	13,286,000
Term Loans by Origination Year 2023	8,702,000	7,987,000
Term Loans by Origination Year 2024	214,000
Revolving Loans	434,000	501,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	70,587,000	62,919,000
Multifamily and Farmland (Watch)
Term Loans by Origination Prior Year	45,000	47,000
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Total Loans	45,000	47,000
Multifamily and Farmland (Substandard)
Term Loans by Origination Prior Year	69,000	76,000
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Total Loans	69,000	76,000
Total Real Estate Loans
Term Loans by Origination Prior Year	207,871,000	182,252,000
Term Loans by Origination Year 2019		47,542,000
Term Loans by Origination Year 2020	95,697,000	100,629,000
Term Loans by Origination Year 2021	153,603,000	158,831,000
Term Loans by Origination Year 2022	264,545,000	270,296,000
Term Loans by Origination Year 2023	125,876,000	126,341,000
Term Loans by Origination Year 2024	63,597,000
Revolving Loans	111,863,000	112,197,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	1,023,052,000	998,088,000
Commercial Loans (Not Secured by Real Estate) (Pass)
Term Loans by Origination Prior Year	13,848,000	12,030,000
Term Loans by Origination Year 2019		2,232,000
Term Loans by Origination Year 2020	2,063,000	2,942,000
Term Loans by Origination Year 2021	3,994,000	4,841,000
Term Loans by Origination Year 2022	12,915,000	14,122,000
Term Loans by Origination Year 2023	10,305,000	9,561,000
Term Loans by Origination Year 2024	5,922,000
Revolving Loans	14,125,000	23,411,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	63,172,000	69,139,000
Commercial Loans (Not Secured by Real Estate) (Watch)
Term Loans by Origination Prior Year	127,000	102,000
Term Loans by Origination Year 2019		57,000
Term Loans by Origination Year 2020	276,000	0
Term Loans by Origination Year 2021	73,000	0
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	558,000	0
Term Loans by Origination Year 2024	0
Revolving Loans	6,000	783,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	1,040,000	942,000
Commercial Loans (Not Secured by Real Estate) (Substandard)
Term Loans by Origination Prior Year	0	0
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	223,000	0
Term Loans by Origination Year 2023	29,000	31,000
Term Loans by Origination Year 2024	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Total Loans	252,000	31,000
Consumer Loans (Not Secured by Real Estate) (Pass)
Term Loans by Origination Prior Year	95,000	58,000
Term Loans by Origination Year 2019		72,000
Term Loans by Origination Year 2020	148,000	222,000
Term Loans by Origination Year 2021	247,000	404,000
Term Loans by Origination Year 2022	1,001,000	1,352,000
Term Loans by Origination Year 2023	1,593,000	2,262,000
Term Loans by Origination Year 2024	953,000
Revolving Loans	2,406,000	2,591,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	6,443,000	6,961,000
Consumer Loans (Not Secured by Real Estate) (Watch)
Term Loans by Origination Prior Year	0	0
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	0	0
Term Loans by Origination Year 2022	23,000	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	0	0
Revolving Loans Converted to Term Loans	0	0
Total Loans	23,000	0
Consumer Loans (Not Secured by Real Estate) (Substandard)
Term Loans by Origination Prior Year	14,000	0
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020	0	0
Term Loans by Origination Year 2021	0	2,000
Term Loans by Origination Year 2022	0	0
Term Loans by Origination Year 2023	0	0
Term Loans by Origination Year 2024	0
Revolving Loans	3,000	3,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	17,000	5,000
Loans (Not Secured by Real Estate)
Term Loans by Origination Prior Year	17,382,000	15,989,000
Term Loans by Origination Year 2019		2,961,000
Term Loans by Origination Year 2020	2,731,000	3,438,000
Term Loans by Origination Year 2021	4,800,000	5,804,000
Term Loans by Origination Year 2022	20,503,000	21,999,000
Term Loans by Origination Year 2023	12,648,000	12,131,000
Term Loans by Origination Year 2024	7,550,000
Revolving Loans	22,006,000	32,656,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	87,620,000	94,978,000
Total Loans
Term Loans by Origination Prior Year	225,253,000	198,241,000
Term Loans by Origination Year 2019		50,503,000
Term Loans by Origination Year 2020	98,428,000	104,067,000
Term Loans by Origination Year 2021	158,403,000	164,635,000
Term Loans by Origination Year 2022	285,048,000	292,295,000
Term Loans by Origination Year 2023	138,524,000	138,472,000
Term Loans by Origination Year 2024	71,147,000
Revolving Loans	133,869,000	144,853,000
Revolving Loans Converted to Term Loans	0	0
Total Loans	$ 1,110,672,000	1,093,066,000
Commercial Loans (Not Secured by Real Estate) (Loss)
Term Loans by Origination Prior Year		0
Term Loans by Origination Year 2019		0
Term Loans by Origination Year 2020		0
Term Loans by Origination Year 2021		0
Term Loans by Origination Year 2022		82,000
Term Loans by Origination Year 2023		0
Revolving Loans		350,000
Total Loans		$ 432,000

Loans (Details 7)

Loans (Details 7) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Real Estate Loans Multifamily and farmland [Member]
Gross Loan Charge-offs by Origination Year Prior Year		$ 0
Gross Loan Charge-offs by Origination Year 2019		0
Gross Loan Charge-offs by Origination Year 2020		0
Gross Loan Charge-offs by Origination Year 2021		0
Gross Loan Charge-offs by Origination Year 2022		0
Gross Loan Charge-offs by Origination Year 2023		0
Gross Loan Charge-offs by Origination Year 2024	$ 0
Gross Loan Charge-offs by Origination Year Revolving Loans		0
Gross Loan Charge-offs by Origination Year Revolving Loans Converted to Term Loans		0
Gross Loan Charge-offs by Origination Year Total Loans		0
Loans NotSecured By Real Estate Gross Charge-Offs [Member]
Gross Loan Charge-offs by Origination Year Prior Year	341,000	481,000
Gross Loan Charge-offs by Origination Year 2019		1,000
Gross Loan Charge-offs by Origination Year 2020	0	22,000
Gross Loan Charge-offs by Origination Year 2021	3,000	104,000
Gross Loan Charge-offs by Origination Year 2022	401,000	90,000
Gross Loan Charge-offs by Origination Year 2023	483,000	0
Gross Loan Charge-offs by Origination Year 2024	0
Gross Loan Charge-offs by Origination Year Revolving Loans	0	0
Gross Loan Charge-offs by Origination Year Revolving Loans Converted to Term Loans	0	0
Gross Loan Charge-offs by Origination Year Total Loans	1,228,000	698,000
Real Estate Loans Single-family residential [Member]
Gross Loan Charge-offs by Origination Year Prior Year	0	0
Gross Loan Charge-offs by Origination Year 2019		0
Gross Loan Charge-offs by Origination Year 2020	0	0
Gross Loan Charge-offs by Origination Year 2021	0	0
Gross Loan Charge-offs by Origination Year 2022	0	0
Gross Loan Charge-offs by Origination Year 2023	0	0
Gross Loan Charge-offs by Origination Year 2024	0
Gross Loan Charge-offs by Origination Year Revolving Loans	0	0
Gross Loan Charge-offs by Origination Year Revolving Loans Converted to Term Loans	0	0
Gross Loan Charge-offs by Origination Year Total Loans	0	0
Real Estate Loans Commercial [Member]
Gross Loan Charge-offs by Origination Year Prior Year		0
Gross Loan Charge-offs by Origination Year 2019		0
Gross Loan Charge-offs by Origination Year 2020		0
Gross Loan Charge-offs by Origination Year 2021		0
Gross Loan Charge-offs by Origination Year 2022		0
Gross Loan Charge-offs by Origination Year 2023		0
Gross Loan Charge-offs by Origination Year 2024	0
Gross Loan Charge-offs by Origination Year Revolving Loans		0
Gross Loan Charge-offs by Origination Year Revolving Loans Converted to Term Loans		0
Gross Loan Charge-offs by Origination Year Total Loans		0
Real Estate Loans Construction And Land Development [Member]
Gross Loan Charge-offs by Origination Year Prior Year	0	0
Gross Loan Charge-offs by Origination Year 2019		0
Gross Loan Charge-offs by Origination Year 2020	0	0
Gross Loan Charge-offs by Origination Year 2021	0	0
Gross Loan Charge-offs by Origination Year 2022	0	0
Gross Loan Charge-offs by Origination Year 2023	126,000	0
Gross Loan Charge-offs by Origination Year 2024	0
Gross Loan Charge-offs by Origination Year Revolving Loans	0	0
Gross Loan Charge-offs by Origination Year Revolving Loans Converted to Term Loans	0	0
Gross Loan Charge-offs by Origination Year Total Loans	126,000	0
Real Estate Loans [Member]
Gross Loan Charge-offs by Origination Year Prior Year	0	0
Gross Loan Charge-offs by Origination Year 2019		0
Gross Loan Charge-offs by Origination Year 2020	0	0
Gross Loan Charge-offs by Origination Year 2021	0	0
Gross Loan Charge-offs by Origination Year 2022	0	0
Gross Loan Charge-offs by Origination Year 2023	126,000	0
Gross Loan Charge-offs by Origination Year 2024	0
Gross Loan Charge-offs by Origination Year Revolving Loans	0	0
Gross Loan Charge-offs by Origination Year Revolving Loans Converted to Term Loans	0	0
Gross Loan Charge-offs by Origination Year Total Loans	126,000	0
Loans NotSecured By Real Estate Farm [Member]
Gross Loan Charge-offs by Origination Year Prior Year		0
Gross Loan Charge-offs by Origination Year 2019		0
Gross Loan Charge-offs by Origination Year 2020		0
Gross Loan Charge-offs by Origination Year 2021		0
Gross Loan Charge-offs by Origination Year 2022		0
Gross Loan Charge-offs by Origination Year 2023		0
Gross Loan Charge-offs by Origination Year Revolving Loans		0
Gross Loan Charge-offs by Origination Year Revolving Loans Converted to Term Loans		0
Gross Loan Charge-offs by Origination Year Total Loans		0
Loans NotSecured By Real Estate Consumer [Member]
Gross Loan Charge-offs by Origination Year Prior Year	234,000	468,000
Gross Loan Charge-offs by Origination Year 2019		1,000
Gross Loan Charge-offs by Origination Year 2020		6,000
Gross Loan Charge-offs by Origination Year 2021		53,000
Gross Loan Charge-offs by Origination Year 2022	4,000	41,000
Gross Loan Charge-offs by Origination Year 2023	10,000	0
Gross Loan Charge-offs by Origination Year 2024	0
Gross Loan Charge-offs by Origination Year Revolving Loans		0
Gross Loan Charge-offs by Origination Year Revolving Loans Converted to Term Loans		0
Gross Loan Charge-offs by Origination Year Total Loans	248,000	569,000
Loans NotSecured By Real Estate All other [Member]
Gross Loan Charge-offs by Origination Year Prior Year	107,000	0
Gross Loan Charge-offs by Origination Year 2019		0
Gross Loan Charge-offs by Origination Year 2020		0
Gross Loan Charge-offs by Origination Year 2021		0
Gross Loan Charge-offs by Origination Year 2022		0
Gross Loan Charge-offs by Origination Year 2023		0
Gross Loan Charge-offs by Origination Year 2024	0
Gross Loan Charge-offs by Origination Year Revolving Loans		0
Gross Loan Charge-offs by Origination Year Revolving Loans Converted to Term Loans		0
Gross Loan Charge-offs by Origination Year Total Loans	107,000	0
Loans NotSecured By Real Estate Commercial [Member]
Gross Loan Charge-offs by Origination Year Prior Year	0	13,000
Gross Loan Charge-offs by Origination Year 2019		0
Gross Loan Charge-offs by Origination Year 2020	0	16,000
Gross Loan Charge-offs by Origination Year 2021	3,000	51,000
Gross Loan Charge-offs by Origination Year 2022	397,000	49,000
Gross Loan Charge-offs by Origination Year 2023	347,000	0
Gross Loan Charge-offs by Origination Year 2024	0
Gross Loan Charge-offs by Origination Year Revolving Loans	0	0
Gross Loan Charge-offs by Origination Year Revolving Loans Converted to Term Loans	0	0
Gross Loan Charge-offs by Origination Year Total Loans	$ 747,000	$ 129,000

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases
Operating lease cost	$ 420	$ 396
Cash paid for amounts included in the measurement of lease liabilities	408	382
Operating cash flows from operating leases	0	0
Right-of-use assets obtained in exchange for new lease liabilities - operating leases	$ 0	$ 348
Weighted-average remaining lease term - operating leases	8 years 1 month 28 days	8 years 9 months 21 days
Weighted-average discount rate - operating leases	2.76%	2.69%

Leases (Details 1)

Leases (Details 1) $ in Thousands	Jun. 30, 2024 USD ($)
Leases
2024	$ 410
2025	773
2026	650
2027	612
2028	510
Thereafter	2,116
Total	5,071
Less: imputed interest	(584)
Operating lease liability	$ 4,487

Leases (Details Narrative)

Leases (Details Narrative) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Leases
Operating ROU assets	$ 4.4
Operating lease liabilities	$ 4.5
Extended Renewal Lease Terms	15 years

Securities Sold Under Agreeme_2

Securities Sold Under Agreements to Repurchase ("Repurchase agreements") (Details Narrative) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Securities Sold Under Agreements to Repurchase ("Repurchase agreements")
Repurchase agreements	$ 18.8	$ 86.7
Market value of borrowings	$ 28.4	$ 89.8

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Standby letters of credit and financial guarantees written
Commitments and contingencies	$ 3,810	$ 3,721
Commitments to extend credit
Commitments and contingencies	$ 372,753	$ 367,482

Commitments and Contingencies_3

Commitments and Contingencies (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commitments And Contingencies Disclosure Abstract
Beginning balance	$ 1,698,000	$ 2,075,000	$ 1,770,000	$ 0
Cummulative effect of change in accounting principle	0	0	0	2,278,000
Provision for (recovery of) credit losses	(133,000)	184,000	(205,000)	(19,000)
Ending Balance	$ 1,565,000	$ 2,259,000	$ 1,565,000	$ 2,259,000

Commitments and Contingencies_4

Commitments and Contingencies (Details Narrative) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Commitments And Contingencies Disclosure Abstract
Allowance for credit losses for unfunded loan commitment	$ 1.6	$ 2.1
Commitment amount	$ 376.6

Fair Value (Details)

Fair Value (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Mortgage-backed securities
Estimated Fair Value	$ 234,148,000	$ 234,902,000
Level 2 | Mortgage-backed securities
Estimated Fair Value	234,148,000	234,902,000
Level 3 | Mortgage-backed securities
Estimated Fair Value	0	0
Level 1 | Mortgage-backed securities
Estimated Fair Value	0	0
U.S. Government sponsored enterprises
Estimated Fair Value	9,573,000	10,515,000
U.S. Government sponsored enterprises | Level 2
Estimated Fair Value	9,573,000	10,515,000
U.S. Government sponsored enterprises | Level 3
Estimated Fair Value	0	0
U.S. Government sponsored enterprises | Level 1
Estimated Fair Value	0	0
State and political subdivisions
Estimated Fair Value	104,305,000	105,093,000
State and political subdivisions | Level 2
Estimated Fair Value	104,305,000	105,093,000
State and political subdivisions | Level 3
Estimated Fair Value	0	0
Private label mortgage-backed securities | Level 2
Estimated Fair Value	38,128,000	31,270,000
Private label mortgage-backed securities | Level 3
Estimated Fair Value	0	0
Private label mortgage-backed securities | Level 1
Estimated Fair Value	0	0
US Treasury [Member]
Estimated Fair Value	7,106,000	10,144,000
US Treasury [Member] | Level 2
Estimated Fair Value	7,106,000	10,144,000
US Treasury [Member] | Level 3
Estimated Fair Value	0	0
US Treasury [Member] | Level 1
Estimated Fair Value	0	0
Private label mortgage-backed securities
Estimated Fair Value	$ 38,128,000	$ 31,270,000

Fair Value (Details 1)

Fair Value (Details 1) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Individually evaluated loans	$ 0	$ 0
Individually Evaluated Laon
Individually evaluated loans	$ 0	0
Valuation Technique	Appraised value
Significant Unobservable Inputs	Discounts to reflect current market conditions and ultimate collectability
General Range Of Significant Unobservable Input Values	0 - 25
Level 1
Individually evaluated loans	$ 0	0
Level 2
Individually evaluated loans	0	0
Level 3
Individually evaluated loans	$ 0	$ 0

Fair Value (Details 2)

Fair Value (Details 2) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Liabilities:
Mortgage loans held for sale	$ 1,288	$ 686
Estimated Fair Value
Liabilities:
Cash and cash equivalents	82,835	82,375
Investment securities available for sale	393,260	391,924
Other investments	2,779	2,874
Mortgage loans held for sale	1,288	686
Loans, net	1,092,244	1,071,178
Mutual funds held in deferred compensation trust	2,387	2,171
Deposits	1,479,261	1,397,351
Securities sold under agreements to repurchase	18,824	86,715
Junior subordinated debentures	15,464	15,464
Level 1
Liabilities:
Cash and cash equivalents	82,835	82,375
Investment securities available for sale	0	0
Other investments	0	0
Mortgage loans held for sale	0	0
Loans, net	0	0
Mutual funds held in deferred compensation trust	2,387	2,171
Deposits	0	0
Securities sold under agreements to repurchase	0	0
Junior subordinated debentures	0	0
Level 2
Liabilities:
Cash and cash equivalents	0	0
Investment securities available for sale	393,260	391,924
Other investments	0	0
Mortgage loans held for sale	1,288	686
Loans, net	0	0
Mutual funds held in deferred compensation trust	0	0
Deposits	1,479,261	1,397,351
Securities sold under agreements to repurchase	18,824	86,715
Junior subordinated debentures	15,464	15,464
Level 3
Liabilities:
Cash and cash equivalents	0	0
Investment securities available for sale	0	0
Other investments	2,779	2,874
Mortgage loans held for sale	0	0
Loans, net	1,092,244	1,071,178
Mutual funds held in deferred compensation trust	0	0
Deposits	0	0
Securities sold under agreements to repurchase	0	0
Junior subordinated debentures	0	0
Carrying Amount
Liabilities:
Cash and cash equivalents	82,835	82,375
Investment securities available for sale	393,260	391,924
Other investments	2,779	2,874
Mortgage loans held for sale	1,288	686
Loans, net	1,100,656	1,082,025
Mutual funds held in deferred compensation trust	2,387	2,171
Deposits	1,475,956	1,392,045
Securities sold under agreements to repurchase	18,824	86,715
Junior subordinated debentures	$ 15,464	$ 15,464

Reportable Segments (Details)

Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Interest expense	$ 6,654		$ 3,828		$ 13,160	$ 6,291
Net interest income	13,416		13,771		26,720	28,109
Noninterest income	7,521		6,403		13,559	10,014
Noninterest expense	15,131		13,619		29,647	27,321
Appraisal management fee expense	2,523		2,049		4,427	3,699
Income tax expense benefit	1,386		1,372		2,173	2,223
Net earnings	4,888	$ 3,948	4,808	$ 3,172	8,836	7,980
Total assets	1,655,398				1,655,398		$ 1,635,910
Banking Operations [Member]
Interest income	20,060		17,591		39,861	34,384
Interest expense	6,371		3,569		12,593	5,784
Net interest income	13,689		14,022		27,268	28,600
Provision for credit losses	(468)		375		(377)	599
Noninterest income	4,340		3,813		7,964	5,330
Appraisal management fee income	0		0		0	0
Noninterest expense	12,019		11,038		24,125	22,602
Appraisal management fee expense	0		0		0	0
Income tax expense benefit	1,423		1,418		2,264	2,327
Net earnings	5,055		5,004		9,220	8,402
Total assets	1,650,872		1,606,211		1,650,872	1,606,211
CBRES [Member]
Interest income	0		0		0	0
Interest expense	0		0		0	0
Net interest income	0		0		0	0
Provision for credit losses	0		0		0	0
Noninterest income	0		0		0	0
Appraisal management fee income	3,181		2,590		5,595	4,684
Noninterest expense	399		360		743	694
Appraisal management fee expense	2,523		2,049		4,427	3,699
Income tax expense benefit	60		42		98	67
Net earnings	199		139		327	224
Total assets	4,035		3,511		4,035	3,511
Other [Member]
Interest income	10		8		19	16
Interest expense	283		259		567	507
Net interest income	(273)		(251)		(548)	(491)
Provision for credit losses	0		0		0	0
Noninterest income	0		0		0	0
Appraisal management fee income	0		0		0	0
Noninterest expense	190		172		352	326
Appraisal management fee expense	0		0		0	0
Income tax expense benefit	(97)		(88)		(189)	(171)
Net earnings	(366)		(335)		(711)	(646)
Total assets	491		1,852		491	1,852
Consolidated [Member]
Interest income	20,070		17,599		39,880	34,400
Interest expense	6,654		3,828		13,160	6,291
Net interest income	13,416		13,771		26,720	28,109
Provision for credit losses	(468)		375		(377)	599
Noninterest income	4,340		3,813		7,964	5,330
Appraisal management fee income	3,181		2,590		5,595	4,684
Noninterest expense	12,608		11,570		25,220	23,622
Appraisal management fee expense	2,523		2,049		4,427	3,699
Income tax expense benefit	1,386		1,372		2,173	2,223
Net earnings	4,888		4,808		8,836	7,980
Total assets	$ 1,655,398		$ 1,611,574		$ 1,655,398	$ 1,611,574