Chain Bridge Bancorp (CBNA) 10-Q 13 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Nov. 12, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-42302
Entity Registrant Name	Chain Bridge Bancorp, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-4957796
Entity Address, Address Line One	1445-A
Entity Address, Address Line Two	Laughlin Avenue
Entity Address, City or Town	McLean
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22101
City Area Code	703
Local Phone Number	748-2005
Title of 12(b) Security	Class A common stock, par value $0.01 per share
Trading Symbol	CBNA
Security Exchange Name	NYSE
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Central Index Key	0001392272
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,701,887
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,859,930

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023	[1]
Assets
Cash and due from banks		$ 11,732	$ 6,035
Interest-bearing deposits in other banks		628,035	310,732
Total cash and cash equivalents		639,767	316,767
Securities available for sale, at fair value		294,754	258,114
Securities held to maturity, at carrying value, net of allowance for credit losses of $261 and $348, respectively (fair value of $285,780 and $283,916, respectively)		302,348	308,058
Equity securities, at fair value		527	505
Restricted securities, at cost		2,886	2,613
Loans, net of allowance for credit losses of $4,206 and $4,319, respectively		295,826	299,825
Premises and equipment, net of accumulated depreciation of $7,163 and $6,791, respectively		9,613	9,858
Accrued interest receivable		5,360	4,354
Other assets		4,201	5,108
Total assets		1,555,282	1,205,202
Deposits:
Noninterest-bearing		1,249,724	766,933
Savings, interest-bearing checking and money market accounts		172,275	328,350
Time, $250 and over		6,589	9,385
Other time		5,280	7,357
Total deposits		1,433,868	1,112,025
Short-term borrowings		10,000	5,000
Accrued interest payable		25	61
Accrued expenses and other liabilities		6,546	4,679
Total liabilities		1,450,439	1,121,765
Commitments and contingencies
Stockholders’ equity
Preferred stock: No par value, 100,000 shares authorized, no shares issued and outstanding	[2]	0	0
Additional paid-in capital		38,276	38,264
Retained earnings		73,901	56,692
Accumulated other comprehensive loss		(7,380)	(11,565)
Total stockholders’ equity		104,843	83,437
Total liabilities and stockholders’ equity		1,555,282	1,205,202
Class A Common Stock
Stockholders’ equity
Class A and B Common Stock	[2]	0	0
Class B Common Stock
Stockholders’ equity
Class A and B Common Stock	[2]	$ 46	$ 46
[1]Derived from audited financial statements.[2]On October 3, 2024, the Company filed an Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware, which reclassified and converted each outstanding share of the Company’s existing common stock, par value $1.00 per share (“Old Common Stock”), into 170 shares of Class B Common Stock, par value $0.01 per share (the “Reclassification”). The Reclassification also authorized 20,000,000 shares of Class A Common Stock, and 10,000,000 shares of Preferred Stock. Share information is presented on an as adjusted basis giving effect to the Reclassification. Accordingly, all shares and balances relating to Old Common Stock are reflected in Class B Common Stock. See Note 2—Capital Structure in the Notes to Unaudited Consolidated Financial Statements contained within this Form 10-Q.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Allowance for credit losses	$ 261	$ 348
Fair Value	285,780	283,916
Allowance for credit loss	4,206	4,319
Accumulated depreciation	$ 7,163	$ 6,791
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	4,568,920	4,568,240
Common stock, shares outstanding (in shares)	4,568,920	4,568,240
Shares converted	170
Old Common Stock
Common stock, par value (in dollars per share)	$ 1

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest and dividend income
Interest and fees on loans		$ 3,445	$ 3,417	$ 10,115	$ 10,124
Interest and dividends on securities, taxable		3,573	2,741	9,312	8,360
Interest on securities, tax-exempt		284	304	863	918
Interest on interest-bearing deposits in banks		7,366	1,681	15,568	3,680
Total interest and dividend income		14,668	8,143	35,858	23,082
Interest expense
Interest on deposits		813	861	2,437	2,822
Interest on short-term borrowings		209	96	409	284
Total interest expense		1,022	957	2,846	3,106
Net interest income		13,646	7,186	33,012	19,976
(Recapture of) provision for credit losses
Provision for (recapture of) loan credit losses		(131)	1	(113)	(82)
Provision for (recapture of) securities credit losses		13	6	(297)	804
Total provision for (recapture of) credit losses		(118)	7	(410)	722
Net interest income after provision for (recapture of) credit losses		13,764	7,179	33,422	19,254
Noninterest income
Deposit placement services		2,464	859	5,617	1,106
Gain on sale of mortgage loans		13	0	25	0
Loss on sale of securities		(65)	(30)	(65)	(312)
Other income		49	16	104	89
Total noninterest income		3,080	1,221	7,358	1,941
Noninterest expenses
Salaries and employee benefits		4,280	3,116	11,553	9,237
Professional services		1,206	207	2,154	623
Data processing and communication expenses		669	570	1,928	1,683
Virginia bank franchise tax		253	188	604	564
Occupancy and equipment expenses		236	232	748	695
FDIC and regulatory assessments		212	159	560	443
Directors fees		191	100	523	286
Insurance expenses		61	54	181	166
Marketing and business development costs		47	48	169	170
Other operating expenses		277	207	758	574
Total noninterest expenses		7,432	4,881	19,178	14,441
Net income before taxes		9,412	3,519	21,602	6,754
Income tax expense		1,925	676	4,393	1,237
Net income		$ 7,487	$ 2,843	$ 17,209	$ 5,517
Earnings per common share, basic (in dollars per share)	[1]	$ 1.64	$ 0.62	$ 3.77	$ 1.21
Earnings per common share, diluted (in dollars per share)	[1]	$ 1.64	$ 0.62	$ 3.77	$ 1.21
Service charges on accounts
Noninterest income
Noninterest income		$ 376	$ 227	$ 1,008	$ 651
Trust and wealth management
Noninterest income
Noninterest income		$ 243	$ 149	$ 669	$ 407
[1]Share information for all periods presented gives effect to the Reclassification. All earnings are attributed to Class B shares because no Class A shares were outstanding during the periods presented. The number of basic and diluted shares are the same because there are no potentially dilutive instruments. See Note 2—Capital Structure and Note 9—Earnings Per Share in the Notes to Unaudited Consolidated Financial Statements contained within this Form 10-Q.

Consolidated Statements of In_2

Consolidated Statements of Income (Parenthetical) - shares	Sep. 30, 2024	Dec. 31, 2023
Class A Common Stock
Common stock, shares outstanding (in shares)	0	0

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 7,487	$ 2,843	$ 17,209	$ 5,517
Other comprehensive income (loss):
Unrealized holding gain (loss) on securities available for sale	3,972	(1,240)	4,439	354
Income tax (expense) benefit related to above unrealized gain (loss) item	(834)	261	(932)	(74)
Amortization of unrealized holding loss on securities available for sale, transferred to held to maturity	220	280	793	830
Income tax expense related to above amortization item	(46)	(59)	(166)	(174)
Reclassification adjustment for losses included in net income	65	30	65	312
Income tax benefit attributable to realized net losses on sale of securities	(14)	(6)	(14)	(66)
Other comprehensive income (loss), net of tax	3,363	(734)	4,185	1,182
Comprehensive income	$ 10,850	$ 2,109	$ 21,394	$ 6,699

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 17,209	$ 5,517
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization of premises and equipment	372	243
Premium amortization (discount accretion) and on investment securities, net	(325)	1,263
Recapture of impairment loss on securities previously recognized in earnings	(3)	(12)
Fair value adjustment (gain) loss on equity security	(11)	15
Provision for (recapture of) loan credit losses	(113)	(82)
Provision for (recapture of) securities credit losses	(297)	804
Loss on sale of securities	65	312
Gain on sale of mortgage loans	(25)	0
Origination of loans held for sale	(2,537)	(415)
Proceeds from sale of loans	2,562	0
Changes in assets and liabilities:
Increase in accrued interest receivable and other assets	(1,211)	(585)
Decrease in accrued interest payable, accrued expenses and other liabilities	1,831	244
Net cash provided by operating activities	17,517	7,304
Securities available for sale:
Purchases of securities	(111,508)	(3,474)
Proceeds from calls, maturities, paydowns and sales	80,964	28,378
Securities held to maturity:
Proceeds from calls, maturities and paydowns	5,471	248
Purchase of restricted securities, net	(273)	(112)
Reinvestment of dividends on equity security	(11)	(9)
Net decrease in loans	4,112	9,679
Purchases of premises and equipment	(127)	(48)
Net cash (used in) provided by investing activities	(21,372)	34,662
Cash flows from financing activities
Net increase in noninterest-bearing, savings, interest-bearing checking and money market deposits	326,716	109,142
Net (decrease) increase in time deposits	(4,873)	4,673
Increase in short-term borrowings	5,000	0
Proceeds from stock issuance	12	0
Net cash provided by financing activities	326,855	113,815
Net increase in cash and cash equivalents	323,000	155,781
Cash and cash equivalents, beginning of period	316,767	98,663
Cash and cash equivalents, end of period	639,767	254,444
Supplemental disclosures of cash flow information
Cash payments for interest	2,882	3,087
Cash payments for taxes	2,551	1,047
Supplemental disclosures of noncash investing activities
Net securities loss reclassified into earnings	$ 4,439	$ 666

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Total		Cumulative Effect, Period of Adoption, Adjustment	Common Stock	[1]	Additional Paid-In Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss
Beginning Balance at Dec. 31, 2022	$ 68,783		$ (329)	$ 46		$ 38,264	$ 48,121	$ (329)	$ (17,648)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,048						1,048
Other comprehensive income	3,067								3,067
Ending Balance at Mar. 31, 2023	72,569		0	46		38,264	48,840	0	(14,581)
Beginning Balance at Dec. 31, 2022	68,783		(329)	46		38,264	48,121	(329)	(17,648)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,517
Other comprehensive income	1,182
Ending Balance at Sep. 30, 2023	75,153			46		38,264	53,309		(16,466)
Beginning Balance at Mar. 31, 2023	72,569		0	46		38,264	48,840	0	(14,581)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,626						1,626
Other comprehensive income	(1,151)								(1,151)
Ending Balance at Jun. 30, 2023	73,044		$ 0	46		38,264	50,466	$ 0	(15,732)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,843						2,843
Other comprehensive income	(734)								(734)
Ending Balance at Sep. 30, 2023	75,153			46		38,264	53,309		(16,466)
Beginning Balance at Dec. 31, 2023	83,437	[2]		46		38,264	56,692		(11,565)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,917						3,917
Other comprehensive income	235								235
Issuance of common stock	12					12
Ending Balance at Mar. 31, 2024	87,601			46		38,276	60,609		(11,330)
Beginning Balance at Dec. 31, 2023	83,437	[2]		46		38,264	56,692		(11,565)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	17,209
Other comprehensive income	4,185
Ending Balance at Sep. 30, 2024	104,843			46		38,276	73,901		(7,380)
Beginning Balance at Mar. 31, 2024	87,601			46		38,276	60,609		(11,330)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,805						5,805
Other comprehensive income	587								587
Ending Balance at Jun. 30, 2024	93,993			46		38,276	66,414		(10,743)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,487						7,487
Other comprehensive income	3,363								3,363
Ending Balance at Sep. 30, 2024	$ 104,843			$ 46		$ 38,276	$ 73,901		$ (7,380)
[1]Share information for all periods presented gives effect to the Company’s share Reclassification. Accordingly, all shares and balances relating to Old Common Stock are reflected in Class B Common Stock. See Note 2—Capital Structure in the Notes to Unaudited Consolidated Financial Statements contained within this Form 10-Q.[2]Derived from audited financial statements.

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders’ Equity (Parenthetical)	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2022-02 [Member]	Accounting Standards Update 2022-02 [Member]	Accounting Standards Update 2022-02 [Member]

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Accounting Policies	Organization and Summary of Significant Accounting Policies Organization and Nature of Operations Chain Bridge Bancorp, Inc. (the “Company”) is a Delaware corporation and is the registered bank holding company for Chain Bridge Bank, National Association (the “Bank”). Both the Company and Bank have their headquarters and sole executive office in McLean, Virginia. The Bank operates a model that combines electronic banking channels with its physical banking headquarters in McLean, Virginia, allowing it to serve clients nationally. The Bank provides a wide range of commercial and personal banking services, including deposit accounts, mortgage financing, various loan products, trust administration, wealth management, and asset custody. The core deposit products offered by the Bank include noninterest-bearing and interest-bearing checking accounts, along with savings accounts. The Bank’s lending portfolio is comprised primarily of mortgage-related loans, with the majority being consumer residential mortgages in the Washington, D.C. area. The Bank offers tailored solutions to individuals, families, businesses, non-profit organizations, and political organizations. The term “political organizations” refers to campaign committees, party committees, separate segregated funds (including trade association political action committees (“PACs”) and corporate PACs), non-connected committees (including independent expenditure-only committees (“Super PACs”), committees maintaining separate accounts for direct contributions and independent expenditures (“Hybrid PACs”), and committees other than authorized campaign committees, or those affiliated therewith, maintained or controlled by a candidate or federal officeholder (“Leadership PACs”)), and other tax-exempt 527 organizations. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. The statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of the Company’s management, all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair presentation of the consolidated financial statements, have been included. These unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2023 and the notes thereto. The results of operations for the nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for any other interim period or for the full year. Principles of Consolidation The consolidated financial statements include the accounts of Chain Bridge Bancorp, Inc. and its wholly-owned subsidiary, Chain Bridge Bank, National Association. All significant intercompany balances and transactions have been eliminated in consolidation. Reclassification Certain amounts reported in prior years may be reclassified to conform to the current year’s presentation. There were no reclassifications for the periods reported. Significant Accounting Policies The accounting and reporting policies of the Company are in accordance with GAAP and conform to general practices within the banking industry. The Company’s significant accounting policies are described in the Note 1 of the “Notes to the Consolidated Financial Statements” included in the audited consolidated financial statements for the fiscal year ended December 31, 2023. There have been no significant changes to the application of significant accounting policies since December 31, 2023. In preparing financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Estimates are evaluated on an ongoing basis. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses (“ACL”) on loans and held to maturity debt securities. Recent Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The amendments in this ASU require an entity to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold, which is greater than five percent of the amount computed by multiplying pretax income by the entity’s applicable statutory rate, on an annual basis. Additionally, the amendments in this ASU require an entity to disclose the amount of income taxes paid (net of refunds received) disaggregated by federal, state, and foreign taxes and the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions that are equal to or greater than five percent of total income taxes paid (net of refunds received). Lastly, the amendments in this ASU require an entity to disclose income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign and income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. This ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied on a prospective basis; however, retrospective application is permitted. The Company does not expect the adoption of ASU 2023-09 to have a material impact on its consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” ASU 2024-03 requires public companies to disclose, in the notes to the financial statements, specific information about certain costs and expenses at each interim and annual reporting period. This includes disclosing amounts related to employee compensation, depreciation, and intangible asset amortization. In addition, public companies will need to provide qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. ASU 2024-03 is effective for public business entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Implementation of ASU 2024-03 may be applied prospectively or retrospectively. The Company does not expect the adoption of ASU 2024-03 to have a material impact on its consolidated financial statements.

Capital Structure

Capital Structure	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Capital Structure	Capital Structure On September 13, 2024, the Company filed a Registration Statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) in connection with its initial public offering (“IPO”), as amended on September 30, 2024, and declared effective by the SEC on October 3, 2024 (the “Registration Statement”). On October 7, 2024, the Company issued 1,850,000 shares of Class A common stock, par value of $0.01 (“Class A Common Stock”), at a public offering price of $22.00 per share. On October 7, 2024, the Company completed its IPO and received total net proceeds of $37.1 million, after deducting the underwriters’ discount and reimbursements for the underwriters’ legal and other out of pocket expenditures. The net proceeds less other related expenses, including audit fees, legal fees, listing fees, and other expenses, totaled $33.6 million. On October 10, 2024, the Company used a portion of the net proceeds to fully repay $10.0 million in short-term borrowings. The Company subsequently closed the line of credit on October 11, 2024. On November 1, 2024, the Company issued an additional 142,897 shares of Class A Common Stock as a result of the underwriters' exercise of their 30-day option to purchase up to an additional 277,500 shares of its Class A Common Stock. The issuance resulted in net proceeds to the Company of approximately $2.9 million, after deducting underwriting discounts and commissions. In connection with the IPO, on October 3, 2024, the Company filed an Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware, which established two new classes of common stock, the Class A Common Stock and Class B common stock, par value $0.01 per share (“Class B Common Stock”), and reclassified and converted each outstanding share of the Company’s existing common stock, par value $1.00 per share (“Old Common Stock”), into 170 shares of Class B Common Stock (the “Reclassification”). The Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware also changed the number of authorized shares of Preferred Stock from 100,000 to 10,000,000. As of September 30, 2024, the Company had 26,876 shares of Old Common Stock issued and outstanding and no shares of Class A Common Stock and Class B Common Stock issued and outstanding. After giving effect to the Reclassification, which was retroactively applied to the financial statements, the Company had no shares of Old Common Stock and Class A Common Stock issued and outstanding and 4,568,920 shares of Class B Common Stock issued and outstanding. Because the Reclassification was applied retroactively to all periods presented, a share that was previously reported as Old Common stock at $1.00 par value and Additional Paid in Capital, is now reported as 170 shares of Class B Common Stock at $0.01 par value and Additional Paid in Capital. The following table sets forth selected balance sheet components as of September 30, 2024: • On an unadjusted basis, giving no effect to the Reclassification; • On an as adjusted basis, giving effect to the Reclassification transactions described above; and • On an as further adjusted basis after giving effect to (1) the Reclassification, (2) the Company’s receipt of the net proceeds from the IPO, after deducting underwriting discounts and commission and other direct expenses of the offering, and (3) the use of a portion of the net proceeds to repay the outstanding principal balance of $10.0 million of borrowings under the Company’s unsecured line of credit with a correspondent bank. As of September 30, 2024 Unadjusted As adjusted for Reclassification As Further Adjusted for IPO (dollars in thousands, except per share data) Cash and cash equivalents $ 639,767 $ 639,767 $ 666,293 Debt: Short-term borrowings $ 10,000 $ 10,000 $ — Stockholders’ equity: Preferred Stock, no par value; 100,000 shares authorized, none issued and outstanding, unadjusted ; no par value, 10,000,000 shares authorized, none issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO $ — $ — $ — Old Common Stock, $1.00 par value; 200,000 shares authorized, 26,876 shares issued and outstanding, unadjusted ; no shares authorized, no shares issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO $ 27 $ — $ — Class A Common Stock, $0.01 par value; no shares authorized, no shares issued and outstanding, unadjusted ; 20,000,000 shares authorized, no shares issued and outstanding, as adjusted for Reclassification ; 20,000,000 shares authorized, 1,992,897 shares issued and outstanding, as further adjusted for IPO $ — $ — $ 20 Class B Common Stock, $0.01 par value; no shares authorized, no shares issued and outstanding, unadjusted ; 10,000,000 shares authorized, 4,568,920 shares issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO $ — $ 46 $ 46 Additional paid-in capital $ 38,295 $ 38,276 $ 74,782 Retained earnings $ 73,901 $ 73,901 $ 73,901 Accumulated other comprehensive loss $ (7,380) $ (7,380) $ (7,380) Total stockholders’ equity $ 104,843 $ 104,843 $ 141,369

Securities & Allowance for Secu

Securities & Allowance for Securities Credit Losses	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Securities & Allowance for Securities Credit Losses	Securities & Allowance for Securities Credit Losses The Company invests in a variety of debt securities, principally obligations of the U.S. government and federal agencies, mortgage backed securities, state and municipal agencies, and corporations. As of September 30, 2024 and December 31, 2023, all debt securities were classified as held to maturity (“HTM”) or available for sale (“AFS”). Management considers the appropriateness of the accounting treatment applied to the Company’s debt securities portfolio on an ongoing basis. During a prior year, certain AFS bonds were transferred to the HTM portfolio. Bonds selected for transfer included U.S. government and federal agencies, corporate bonds, and state and municipal bonds. The unrealized loss at the time of transfer is being amortized monthly over the remaining lives of the debt securities with an increase to the carrying value of the debt securities and a decrease to the related accumulated other comprehensive loss, which is included in the stockholders’ equity section of the consolidated balance sheets. The following tables summarize the amortized cost, gross unrealized gains and losses, fair value and allowance for credit losses of AFS and HTM debt securities at September 30, 2024 and December 31, 2023 (dollars in thousands): September 30, 2024 Amortized Gross Gross Fair Allowance Securities available for sale: U.S. government and federal agencies $ 131,089 $ 52 $ (1,416) $ 129,725 $ — Mortgage backed securities 8,658 — (429) 8,229 — Corporate bonds 53,283 62 (750) 52,595 — State and municipal securities 107,323 88 (3,206) 104,205 — Total securities available for sale $ 300,353 $ 202 $ (5,801) $ 294,754 $ — Securities held to maturity: U.S. government and federal agencies $ 122,447 $ 6 $ (7,236) $ 115,217 $ — Mortgage backed securities 1,173 — (1) 1,172 — Corporate bonds 58,409 90 (1,545) 56,954 (230) State and municipal securities 120,580 23 (8,166) 112,437 (31) Total securities held to maturity $ 302,609 $ 119 $ (16,948) $ 285,780 $ (261) Total securities $ 602,962 $ 321 $ (22,749) $ 580,534 $ (261) December 31, 2023 Amortized Gross Gross Fair Allowance Securities available for sale: U.S. government and federal agencies $ 95,129 $ 32 $ (2,864) $ 92,297 $ — Mortgage backed securities 9,247 11 (609) 8,649 — Corporate bonds 57,304 5 (1,837) 55,472 — State and municipal securities 106,472 34 (4,810) 101,696 — Total securities available for sale $ 268,152 $ 82 $ (10,120) $ 258,114 $ — Securities held to maturity: U.S. government and federal agencies $ 123,938 $ — $ (10,069) $ 113,869 $ — Mortgage backed securities 1,190 — (17) 1,173 — Corporate bonds 59,629 59 (3,027) 56,661 (322) State and municipal securities 123,649 6 (11,442) 112,213 (26) Total securities held to maturity $ 308,406 $ 65 $ (24,555) $ 283,916 $ (348) Total securities $ 576,558 $ 147 $ (34,675) $ 542,030 $ (348) There were no holdings of municipal or corporate debt that equaled or exceeded 10.0% of stockholders’ equity at September 30, 2024 and December 31, 2023. There were no securities pledged to secure a line of credit with the Federal Reserve Bank of Richmond, Virginia at September 30, 2024 and December 31, 2023. Proceeds from calls, maturities, paydowns and sales of debt securities available for sale totaled $81.0 million for the nine months ended September 30, 2024 and $28.4 million for the nine months ended September 30, 2023. Proceeds from calls, maturities, and paydowns of debt securities held to maturity totaled $5.5 million and $248 thousand for the nine month periods ended September 30, 2024 and 2023, respectively. During the nine months ended September 30, 2024, the Bank sold an AFS bond that was charged off during a prior year for $210 thousand. The proceeds were recorded as a recapture of credit loss. Because this sale did not result in a realized gain or loss on sale of securities, it is excluded from the related tables below. The proceeds, gross realized gains and losses from sales of debt securities during the three and nine months ended September 30, 2024 and 2023 were as follows (dollars in thousands): Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Available for Sale Held to Maturity Available for Sale Held to Maturity Proceeds from sales of securities $ — $ 953 $ — $ 953 Gross gains — — — — Gross losses — (65) — (65) Net losses on sale of a securities $ — $ (65) $ — $ (65) Income tax benefit attributable to realized net losses on sale of securities $ — $ 14 $ — $ 14 Three Months Ended Nine Months Ended Available for Sale Held to Maturity Available for Sale Held to Maturity Proceeds from sales of securities $ 977 $ — $ 1,929 $ — Gross gains — — — — Gross losses (30) — (312) — Net losses on sale of a securities $ (30) $ — $ (312) $ — Income tax benefit attributable to realized net losses on sale of securities $ 6 $ — $ 66 $ — Management classifies bonds as HTM only when the Company has the ability and intent to hold the bond to maturity, and certain sales or transfers of HTM could call into question management’s ability or intent to hold the remaining HTM bond portfolio to maturity, thereby “tainting” the entire portfolio and triggering a reclassification of the entire portfolio to available for sale. However, there are limited situations, including evidence of deterioration in the issuer’s creditworthiness, in which the Company could sell an HTM bond without tainting the remaining HTM portfolio. During the third quarter of 2024, the Company sold two HTM bonds from a single issuer due to significant documented deterioration of the issuer’s creditworthiness evidenced by the downgrading of the issuer’s public credit rating. The sales are included in the tables above. Under these circumstances, the sale did not taint the HTM portfolio. The amortized cost and fair value of debt securities by contractual maturity at September 30, 2024 is as follows (dollars in thousands): Available for Sale Held to Maturity Amortized Fair Amortized Fair Within one year $ 166,593 $ 166,033 $ 16,873 $ 16,668 After one year through five years 98,391 95,808 189,090 181,392 After five years through ten years 29,950 27,843 92,329 83,923 Over ten years 5,419 5,070 4,317 3,797 Total $ 300,353 $ 294,754 $ 302,609 $ 285,780 Expected maturities may differ from contractual maturities if issuers have the right to call or repay obligations with or without prepayment penalties. The following table shows the gross unrealized losses and fair value of the Company’s AFS debt securities with unrealized losses aggregated by investment category and length of time that individual debt securities have been in a continuous unrealized loss position at September 30, 2024 and December 31, 2023 (dollars in thousands): September 30, 2024 Less Than Twelve Over Twelve Months Total Gross Fair Gross Fair Gross Fair Securities available for sale: U.S. government and federal agencies $ (1) $ 10,997 $ (1,415) $ 46,445 $ (1,416) $ 57,442 Mortgage backed securities — 27 (429) 8,170 (429) 8,197 Corporate bonds (17) 5,454 (733) 37,865 (750) 43,319 State and municipal securities (27) 6,061 (3,179) 83,089 (3,206) 89,150 Total securities available for sale $ (45) $ 22,539 $ (5,756) $ 175,569 $ (5,801) $ 198,108 December 31, 2023 Less Than Twelve Over Twelve Months Total Gross Fair Gross Fair Gross Fair Securities available for sale: U.S. government and federal agencies $ (16) $ 5,860 $ (2,848) $ 70,906 $ (2,864) $ 76,766 Mortgage backed securities — — (609) 8,604 (609) 8,604 Corporate bonds (3) 2,482 (1,834) 51,987 (1,837) 54,469 State and municipal securities (31) 3,675 (4,779) 89,828 (4,810) 93,503 Total securities available for sale $ (50) $ 12,017 $ (10,070) $ 221,325 $ (10,120) $ 233,342 In the AFS portfolio at September 30, 2024, 46 out of 61 debt securities of the U.S. government and federal agencies, 15 out of 20 mortgage backed securities, 89 out of 108 corporate bonds, and 269 out of 306 state and municipal securities were in an unrealized loss position. All of the Company’s investment portfolio was evaluated under the monitoring process described in Note 1 of the audited consolidated financial statements for the year ended December 31, 2023, and all investments were deemed investment grade. All of the unrealized losses are attributed to changes in market interest rates, and are not a result of deterioration of creditworthiness among any of the issuers. Of the total AFS and HTM portfolio at September 30, 2024 and December 31, 2023, 792 and 880 debt securities had unrealized losses with aggregate impairment of 3.8% and 6.0%, respectively, of the Company’s amortized cost basis. These unrealized losses related principally to interest rate movements and not the creditworthiness of the issuer. In analyzing an issuer’s financial condition, management considers whether the debt securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and industry analysts’ reports. Credit loss allowances for the AFS and HTM portfolios are described in the following sections. Allowance for Credit Losses—AFS Securities Management evaluates debt securities to determine whether the unrealized loss is due to credit-related factors or non-credit-related factors. This analysis occurs on a quarterly basis. Consideration is given to the extent to which fair value is less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for full recovery of its amortized cost. If the assessment reveals that a credit loss exists, the present value of the expected cash flows of the security is compared to the amortized cost basis of the security. If the present value of future cash flows expected to be collected is less than the amortized cost, an allowance for the credit loss is recorded. The loss is limited by the amount that the amortized cost exceeds fair value. As of the reporting date, the Company did not intend to sell any of the AFS debt securities, did not expect to be required to sell these debt securities, and expected to recover the entire amortized cost basis of all of the debt securities. The Company did not record an ACL on the AFS debt securities at September 30, 2024 and December 31, 2023. The Company has evaluated these debt securities for credit-related impairment at the reporting date and concluded that no impairment existed. In analyzing an issuer’s financial condition, management considers whether the debt securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, industry analysts’ reports, and correlations between fair value changes and interest rate changes among instruments that are not credit sensitive. All AFS debt securities were current with no debt securities past due or on non-accrual as of September 30, 2024 and December 31, 2023. The Company considers the unrealized losses on the debt securities as of September 30, 2024 and December 31, 2023 to be related to fluctuations in market conditions, primarily interest rates, and is not reflective of deterioration in credit. The table below presents a rollforward by major security type of the allowance for credit losses on AFS debt securities for the nine months ended September 30, 2024 and 2023 (dollars in thousands): September 30, 2024 For the nine months ended U.S. Mortgage Corporate State and Total AFS Allowance for credit losses: Beginning balance, December 31, 2023 $ — $ — $ — $ — $ — Provision for (recapture of) credit losses — — (210) — (210) Write offs charged against the allowance — — — — — Recoveries of amounts previously written off — — 210 — 210 Ending balance, September 30, 2024 $ — $ — $ — $ — $ — At September 30, 2024, there was no allowance for credit losses on AFS debt securities recorded. During the nine months ended September 30, 2024, the Bank received proceeds totaling $210 thousand for a bond that was fully charged off during 2023, and recorded a recovery of credit loss. The entire ACL recovery during 2024 was recorded in the first quarter. September 30, 2023 For the nine months ended U.S. Mortgage Corporate State and Total AFS Allowance for credit losses: Beginning balance, December 31, 2022 $ — $ — $ — $ — $ — Impact of adopting ASC 326 — — — — — Provision for credit losses — — 785 — 785 Write offs charged against the allowance — — (785) — (785) Recoveries of amounts previously written off — — — — — Ending balance, September 30, 2023 $ — $ — $ — $ — $ — At September 30, 2023 and December 31, 2023, there was no allowance for credit losses on AFS debt securities recorded. The entire ACL provision recorded for the AFS portfolio during 2023 was recorded in the first quarter and pertained to a holding from a single corporate issuer whose business was ultimately closed by a regulatory authority. The bond, initially classified as HTM, was transferred to the AFS portfolio based on the unlikely collectability of the unsecured bond and significant documented credit deterioration. A portion of the bond was subsequently sold at a loss, and the remaining unsold portion was written off entirely. Credit Quality Indicators and Allowance for Credit Losses - HTM Securities The Company evaluates the credit risk of its HTM debt securities on a quarterly basis. The Company estimates expected credit losses on HTM debt securities using an instrument -level process described in Note 1 of the audited consolidated financial statements for the year ended December 31, 2023. The primary indicators of credit quality for the Company’s HTM portfolio are security type, time remaining to maturity, and credit rating. Credit ratings may be influenced by a number of factors including obligor cash flows, geography, seniority and others. The HTM portfolio includes debt securities issued by the U.S. Treasury and agencies of the federal government, and mortgage-backed securities issued by government agencies. These types of investments carry implicit or explicit backing of the U.S. Treasury, and therefore are deemed to carry no credit risk for purposes of the ACL evaluation. The following table presents the amortized cost of HTM debt securities as of September 30, 2024 and December 31, 2023 by security type and credit rating (dollars in thousands): September 30, 2024 U.S. Mortgage Corporate State and Total HTM AAA / AA / A $ 122,447 $ 1,173 $ 18,447 $ 120,580 $ 262,647 BBB / BB / B — — 39,962 — 39,962 Total $ 122,447 $ 1,173 $ 58,409 $ 120,580 $ 302,609 December 31, 2023 U.S. Mortgage Corporate State and Total HTM AAA / AA / A $ 123,938 $ 1,190 $ 20,091 $ 123,168 $ 268,387 BBB / BB / B — — 39,538 481 40,019 Total $ 123,938 $ 1,190 $ 59,629 $ 123,649 $ 308,406 The following tables summarize the change in the allowance for credit losses on HTM debt securities for the three and nine months ended September 30, 2024 and 2023 and the twelve months ended December 31, 2023 (dollars in thousands): September 30, 2024 For the three months ended U.S. Mortgage Corporate State and Total HTM Allowance for credit losses: Beginning balance, June 30, 2024 $ — $ — $ 215 $ 33 $ 248 Provision for (recapture of) credit losses — — 15 (2) 13 Write offs charged against the allowance — — — — — Recoveries of amounts previously written off — — — — — Ending balance, September 30, 2024 $ — $ — $ 230 $ — $ 31 $ — $ 261 September 30, 2023 For the three months ended U.S. Mortgage Corporate State and Total HTM Allowance for credit losses: Beginning balance, June 30, 2023 $ — $ — $ 316 $ 26 $ 342 Provision for (recapture of) credit losses — — (8) 14 6 Write offs charged against the allowance — — — — — Recoveries of amounts previously written off — — — — — Ending balance, September 30, 2023 — — 308 40 348 September 30, 2024 For the nine months ended U.S. Mortgage Corporate State and Total HTM Allowance for credit losses: Beginning balance, December 31, 2023 $ — $ — $ 322 $ 26 $ 348 Provision for (recapture of) credit losses — — (92) 5 (87) Write offs charged against the allowance — — — — — Recoveries of amounts previously written off — — — — — Ending balance, September 30, 2024 $ — $ — $ 230 $ 31 $ 261 September 30, 2023 For the nine months ended U.S. Mortgage Corporate State and Total HTM Allowance for credit losses: Beginning balance, December 31, 2022 $ — $ — $ — $ — $ — Impact of adopting ASC 326 — — 303 26 329 Provision for credit losses — — 5 14 19 Write offs charged against the allowance — — — — — Recoveries of amounts previously written off — — — — — Ending balance, September 30, 2023 $ — $ — $ 308 $ 40 $ 348 At September 30, 2024, the Company had no HTM debt securities that were 30 days or more past due as to principal and interest payments. The Company had no debt securities held to maturity classified as non-accrual as of September 30, 2024. Equity Securities

Loans and Allowance for Loan Cr

Loans and Allowance for Loan Credit Losses	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Loans and Allowance for Loan Credit Losses	Loans and Allowance for Loan Credit Losses A summary of the composition of the loan portfolio at September 30, 2024 and December 31, 2023 (dollars in thousands): September 30, 2024 December 31, 2023 Commercial real estate $ 51,387 $ 60,138 Commercial 11,144 12,438 Residential real estate closed-end 218,129 210,358 Other consumer loans 19,372 21,210 300,032 304,144 Less allowance for credit losses (4,206) (4,319) Loans, net $ 295,826 $ 299,825 Overdrafts totaling $697 thousand and $10 thousand at September 30, 2024 and December 31, 2023, respectively, were reclassified from deposits to loans. The totals above include deferred costs (net of deferred fees) of $511 thousand at September 30, 2024 and $466 thousand at December 31, 2023. The following tables present the activity in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2024 and 2023 (dollars in thousands): September 30, 2024 Commercial Commercial Residential Other Total For the three months ended Allowance for credit losses: Beginning balance, June 30, 2024 $ 1,136 $ 167 $ 2,756 $ 278 $ 4,337 Provision for (recapture of) credit losses (114) (3) 18 (32) (131) Loans charged-off — — — — — Recoveries collected — — — — — Ending balance, September 30, 2024 $ 1,022 $ 164 $ 2,774 $ 246 $ 4,206 September 30, 2023 Commercial Commercial Residential Other Total For the three months ended Allowance for credit losses: Beginning balance, June 30, 2023 $ 1,142 $ 239 $ 2,793 $ 225 $ 4,399 Provision for (recapture of) credit losses (102) (48) 170 (19) 1 Loans charged-off — — — — — Recoveries collected — — — — — Ending balance, September 30, 2023 $ 1,040 $ 191 $ 2,963 $ 206 $ 4,400 September 30, 2024 Commercial Commercial Residential Other Total For the nine months ended Allowance for credit losses: Beginning balance, December 31, 2023 $ 1,233 $ 189 $ 2,668 $ 229 $ 4,319 Provision for (recapture of) credit losses (211) (25) 106 17 (113) Loans charged-off — — — — — Recoveries collected — — — — — Ending balance, September 30, 2024 $ 1,022 $ 164 $ 2,774 $ 246 $ 4,206 September 30, 2023 Commercial Commercial Residential Other Total For the nine months ended Allowance for credit losses: Beginning balance, December 31, 2022 $ 905 $ 573 $ 2,650 $ 354 $ 4,482 Impact of adopting ASC 326 130 19 (16) (133) — Provision for (recapture of) credit losses 5 (401) 329 (15) (82) Loans charged-off — — — — — Recoveries collected — — — — — Ending balance, September 30, 2023 $ 1,040 $ 191 $ 2,963 $ 206 $ 4,400 There were no nonaccrual loans, loans 90 days past due and still accruing, or past due for 30 or more days as of September 30, 2024 and December 31, 2023. The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company’s loan risk grading system and ongoing monitoring process is discussed in Note 1 of the audited consolidated financial statements for the year ended December 31, 2023. The following table presents the outstanding balance of the loan portfolio, by year of origination, loan classification, and credit quality, as of September 30, 2024 and December 31, 2023 (dollars in thousands): September 30, 2024 Term Loans by Year of Origination Revolving Loans Revolving to Term Loans Total 2024 2023 2022 2021 2020 Prior Commercial real estate Pass $ — $ 1,338 $ 5,458 $ 8,950 $ 3,500 $ 26,581 $ — $ 3,690 $ 49,517 Special Mention — — — — — 1,526 — — 1,526 Substandard — — — — — 344 — — 344 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ — $ 1,338 $ 5,458 $ 8,950 $ 3,500 $ 28,451 $ — $ 3,690 $ 51,387 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial Pass $ 424 $ — $ 557 $ 11 $ 3 $ 1,389 $ 8,760 $ — $ 11,144 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 424 $ — $ 557 $ 11 $ 3 $ 1,389 $ 8,760 $ — $ 11,144 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — September 30, 2024 Term Loans by Year of Origination Revolving Loans Revolving to Term Loans Total 2024 2023 2022 2021 2020 Prior Residential real estate closed-end Pass $ 18,574 $ 17,911 $ 47,541 $ 43,650 $ 23,600 $ 66,616 $ — $ — $ 217,892 Special Mention — — — — — — — — — Substandard — — — — — 237 — — 237 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 18,574 $ 17,911 $ 47,541 $ 43,650 $ 23,600 $ 66,853 $ — $ — $ 218,129 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Other consumer loans Pass $ — $ — $ — $ — $ — $ — $ 17,869 $ 1,503 $ 19,372 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ — $ — $ — $ — $ — $ — $ 17,869 $ 1,503 $ 19,372 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — December 31, 2023 Term Loans by Year of Origination Revolving Loans Revolving to Term Loans Total 2023 2022 2021 2020 2019 Prior Commercial real estate Pass $ 849 $ 5,521 $ 9,327 $ 3,713 $ 8,015 $ 21,875 $ — $ 8,895 $ 58,195 Special Mention — — — — — 1,570 — — 1,570 Substandard — — — — — 373 — — 373 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 849 $ 5,521 $ 9,327 $ 3,713 $ 8,015 $ 23,818 $ — $ 8,895 $ 60,138 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial Pass $ — $ 573 $ 14 $ 42 $ 1,352 $ 309 $ 10,148 $ — $ 12,438 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ — $ 573 $ 14 $ 42 $ 1,352 $ 309 $ 10,148 $ — $ 12,438 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — December 31, 2023 Term Loans by Year of Origination Revolving Loans Revolving to Term Loans Total 2023 2022 2021 2020 2019 Prior Residential real estate closed end Pass $ 20,230 $ 45,920 $ 45,528 $ 25,150 $ 18,035 $ 55,253 $ — $ — $ 210,116 Special Mention — — — — — — — — — Substandard — — — — — 242 — — 242 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 20,230 $ 45,920 $ 45,528 $ 25,150 $ 18,035 $ 55,495 $ — $ — $ 210,358 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Other consumer loans Pass $ — $ — $ 32 $ — $ — $ — $ 17,703 $ 3,475 $ 21,210 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ — $ — $ 32 $ — $ — $ — $ 17,703 $ 3,475 $ 21,210 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Collateral Dependent Loans FASB ASC Topic 326 describes a collateral-dependent asset as a financial asset for which the repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower, based on management’s assessment, is experiencing financial difficulty as of the reporting date. Whether the underlying collateral is expected to be a substantial source of repayment for an asset depends on the availability, reliability, and capacity of sources other than the collateral to repay the debt. Collateral-dependent loans are individually evaluated for expected credit losses as of the reporting date, and they are removed from their respective pools of collectively evaluated assets. Expected credit losses for these types of assets are based on the fair value of the collateral at the measurement date, adjusted for estimated selling costs. There were no collateral-dependent loans that were individually evaluated for purposes of determining the allowance for credit loss under FASB ASC Topic 326 as of September 30, 2024 and December 31, 2023. Modifications to Borrowers Experiencing Financial Difficulty The Company may modify loans to borrowers in financial distress by providing principal forgiveness, term extension, and other-than-insignificant payment delay or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit losses. There were no loan modifications provided to borrowers exhibiting financial distress during the nine months ended September 30, 2024 and 2023, and there were no such prior modifications in existence during the periods reported. During the reported periods, there were no payment defaults from any such loans during the twelve months preceding the modification because no such modifications were in existence during the periods. Related Party Loan Transactions

Deposits

Deposits	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Deposits	Deposits The Bank held no deposits classified as brokered as of September 30, 2024 and December 31, 2023. To achieve full insurance from the Federal Deposit Insurance Corporation (“FDIC”), some of the Bank’s depositors have enrolled in the IntraFi Cash Service ® (“ICS ® ”) program offered by the Bank through the IntraFi ® network. When accounts are enrolled in this service, the Bank must elect, for each account, whether it will receive a reciprocal deposit balance or sell the deposit balance. There were no reciprocal deposits held as of September 30, 2024. At December 31, 2023, the Bank held $177.3 million of reciprocal deposits through ICS ® on its consolidated balance sheets. Total ICS ® One-Way Sell ® deposits of $432.3 million and $130.1 million as of September 30, 2024, and December 31, 2023, respectively, were sold to the network and excluded from the Company’s consolidated balance sheets. The Company receives fee income for sold accounts, which is included in deposit placement services income on the consolidated statements of income. The Bank’s deposit balances have consistently followed the trend of historic seasonality surrounding federal election cycles, where political organization deposits generally increase in the quarters leading up to federal elections and decline in the quarters during and after the elections. Consistent with this trend, as of September 30, 2024, the Bank maintained elevated deposit levels ahead of the November 2024 federal elections, with deposits reported on the balance sheet totaling $1.4 billion, and One-Way Sell ® deposits totaling $432.3 million. Entering the fourth quarter of 2024—the quarter of the 2024 presidential election—between October 1, 2024 and November 12, 2024, the date prior to the filing of this quarterly report, total deposits, including reciprocal ICS ® deposits, have ranged from approximately $1.1 billion to $1.4 billion, and ICS ® One-Way Sell ® accounts have approximately ranged from a minimum of $85.4 million to a maximum of $462.5 million. At the close of business on November 12, 2024, total deposits were $1.2 billion and ICS ® One-Way Sell ® accounts were $85.4 million. Declines in the volume of deposits retained on the balance sheet will cause net interest income to decrease, and declines in ICS ® One-Way Sell ® balances will cause noninterest income to decrease. The amount and timing of these deposit inflows and outflows are difficult to predict and may differ from historical patterns. FDIC deposit insurance covers $250 thousand per depositor, per FDIC-insured bank, for each account ownership category. The Company estimates uninsured deposits held at the Bank as of September 30, 2024 are $1.2 billion, which is 81.4% of total deposits. The Company estimated uninsured deposits as of December 31, 2023 were $648.0 million, which is 58.3% of total deposits.

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Borrowings	Borrowings Federal Home Loan Bank Advance The Bank has a secured line of credit with the Federal Home Loan Bank, which is renewed annually in December. The Bank has historically pledged 1-4 family residential real estate loans within the Bank’s loan portfolio to establish credit availability. At September 30, 2024 and December 31, 2023, the secured line of credit had no collateral pledged and therefore no available or outstanding balance. Short-Term Borrowings At September 30, 2024 and December 31, 2023, the Company had an unsecured line of credit from a correspondent bank totaling $10.0 million with an outstanding balance of $10.0 million as of September 30, 2024 and $5.0 million as of December 31, 2023. On October 10, 2024, the Company used a portion of the net proceeds from the IPO to fully repay the $10.0 million outstanding balance. The Company subsequently closed the line on October 11, 2024. The interest rate on the line of credit was 7.85% and 7.95% at September 30, 2024 and December 31, 2023, respectively. As of December 6, 2023, the agreement was amended to require payment of a quarterly unused commitment fee at the rate of 1.00% per annum on the undisbursed and uncanceled daily balance during the preceding quarter.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Determination of Fair Value Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value measurements and disclosure topic specifies a hierarchy of valuation techniques based on whether the inputs to these valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. U.S. GAAP requires that valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. Fair Value Hierarchy U.S. GAAP establishes a fair value hierarchy which categorizes the valuation inputs into three broad levels. Based on the underlying inputs, each fair value measurement in its entirety is reported in one of the three levels. These levels are: Level 1 - Valuation is based on quoted prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 - Valuation is based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. Level 3 - Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation. An asset or liability’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following describes the valuation techniques used by the Company to measure certain financial assets and liabilities recorded at fair value on a recurring basis in the financial statements: Securities Available for Sale & Equity Securities Debt securities available for sale and equity securities are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted market prices, when available (Level 1). If quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable market data (Level 2). If the inputs used to provide the evaluation for certain securities are unobservable and/or there is little, if any, market activity then the security would fall to the lowest level of the hierarchy (Level 3). The Company’s investment portfolio is valued using fair value measurements that are considered to be Level 1 or Level 2 but may also use Level 3 measurements if required by the composition of the portfolio. The Bank has contracted with a securities portfolio accounting service provider for valuation of its securities portfolio. Most security types are priced using the securities accounting provider’s internally developed pricing software which appraises securities from an online real-time database. Subscription pricing services such as ICE Data Services and Bloomberg Valuation Services may be used to supplement the internal pricing system for security types where the underlying collateral, cash flow projections or trade data is not readily available. If Level 1 or Level 2 inputs are not available, the software may rely upon a discounted cash flow analysis based on the net present value of a security’s projected cash flow to arrive at fair market value. Valuations for direct obligations of the U.S. Treasury, exchange listed stock and preferred stock are obtained from on-line real-time databases. The securities accounting service provider utilizes proprietary valuation matrices for valuing all municipal securities. The initial curves for determining the price, movement, and yield relationships within the municipal matrices are derived from industry benchmark curves or sourced from a municipal trading desk. The securities are further broken down according to issuer, credit support, state of issuance and rating to incorporate additional spreads to the industry benchmark curves. The following table presents the balances of financial assets measured at fair value on a recurring basis (dollars in thousands): Fair Value Measurements Using Financial Assets Balances Level 1 Level 2 Level 3 As of September 30, 2024: Available for sale securities: U.S. government and federal agencies $ 129,725 $ 125,773 $ 3,952 $ — Mortgage backed securities 8,229 — 8,229 — Corporate bonds 52,595 492 52,103 — State and municipal securities 104,205 — 104,205 — Total available for sale securities $ 294,754 $ 126,265 $ 168,489 $ — Equity securities 527 527 — — Total $ 295,281 $ 126,792 $ 168,489 $ — As of December 31, 2023: Available for sale securities: U.S. government and federal agencies $ 92,297 $ 78,817 $ 13,480 $ — Mortgage backed securities 8,649 — 8,649 — Corporate bonds 55,472 475 54,997 — State and municipal securities 101,696 — 101,696 — Total available for sale securities $ 258,114 $ 79,292 $ 178,822 $ — Equity securities 505 505 — — Total $ 258,619 $ 79,797 $ 178,822 $ — Assets Measured at Fair Value on a Non-recurring Basis Certain assets are measured at fair value on a nonrecurring basis in accordance with generally accepted accounting principles. Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-market accounting or write-downs of individual assets. Collateral Dependent Loans Individually evaluated loans are analyzed to determine whether they are collateral dependent. Any individually evaluated loans, which are deemed to be collateral dependent, with an allocation to the ACL are measured at fair value on a non-recurring basis. Any fair value adjustments are recorded in the period incurred as provision for credit losses on the consolidated statements of income. The measurement of loss associated with collateral dependent loans can be based on either the observable market price of the loan or fair value of the collateral. Fair value is measured based on the value of the collateral securing the loans. Collateral may be in the form of real estate or business assets including equipment, inventory, and accounts receivable. The vast majority of the collateral is real estate. The value of real estate collateral is determined utilizing a market valuation approach based on an appraisal conducted by an independent, licensed appraiser outside of the Company using observable market data (Level 2). However, if the collateral is a house or building in the process of construction or if an appraisal of the real estate property using an income approach or is over two years old, then the fair value is considered Level 3. The value of business equipment is based upon an outside appraisal if deemed significant, or the net book value on the applicable business’s financial statements if not considered significant using observable market data. Likewise, values for inventory and accounts receivables collateral are based on financial statement balances or aging reports (Level 3). Any fair value adjustments are recorded in the period incurred as a provision for loan credit losses on the consolidated statements of income. There were no collateral dependent loans with a recorded reserve as of September 30, 2024 and December 31, 2023. Other Real Estate Owned Other real estate owned (“OREO”) is measured at fair value less costs to sell. Valuation of OREO is determined using current appraisals from independent parties, a Level 2 input. If current appraisals cannot be obtained, or if declines in value are identified after a recent appraisal is received, appraisal values may be discounted, resulting in a Level 3 estimate. If the Company markets the property with a realtor, estimated selling costs reduce the fair value, resulting in a valuation based on Level 3 inputs. Fair value adjustments are recorded in the period incurred and expensed against current earnings. The Bank held no OREO at September 30, 2024 and December 31, 2023. Loans Held for Sale Loans held for sale are carried at the lower of cost or fair value. These loans currently consist of 1-4 family residential loans originated for sale in the secondary market. Fair value is based on the price secondary markets are currently offering for similar loans using observable market data which is not materially different than cost due to the short duration between origination and sale (Level 2 ). As such, the Company records any fair value adjustments on a nonrecurring basis. No nonrecurring fair value adjustments were recorded on loans held for sale at September 30, 2024 or December 31, 2023. There were no assets measured at fair value on a nonrecurring basis at September 30, 2024 and December 31, 2023. Fair Value of Financial Instruments The following tables present the carrying value and estimated fair value including the level within the fair value hierarchy of the Company’s financial instruments as of September 30, 2024 and December 31, 2023 (dollars in thousands): Carrying Fair Value Measurements Using Total Level 1 Level 2 Level 3 As of September 30, 2024: Financial assets: Cash and due from banks $ 639,767 $ 639,767 $ — $ — $ 639,767 Securities available for sale 294,754 126,265 168,489 — 294,754 Securities held to maturity, net 302,348 109,514 176,266 — 285,780 Equity securities 527 527 — — 527 Restricted securities 2,886 — 2,886 — 2,886 Loans, net 295,826 — — 286,987 286,987 Accrued interest receivable 5,360 — 5,360 — 5,360 Financial liabilities: Demand and savings deposits $ 1,421,999 $ — $ 1,249,724 $ 163,186 $ 1,412,910 Time deposits 11,869 — — 11,829 11,829 Short-term borrowings 10,000 — 10,000 — 10,000 Accrued interest payable 25 — 25 — 25 Carrying Fair Value Measurements Using Total Level 1 Level 2 Level 3 As of December 31, 2023: Financial assets: Cash and due from banks $ 316,767 $ 316,767 $ — $ — $ 316,767 Securities available for sale 258,114 79,292 178,822 — 258,114 Securities held to maturity, net 308,058 106,837 177,079 — 283,916 Equity securities 505 505 — — 505 Restricted securities 2,613 — 2,613 — 2,613 Loans, net 299,825 — — 280,352 280,352 Accrued interest receivable 4,354 — 4,354 — 4,354 Financial liabilities: Demand and savings deposits $ 1,095,283 $ — $ 766,933 $ 299,765 $ 1,066,698 Time deposits 16,742 — — 16,600 16,600 Short-term borrowings 5,000 — 5,000 — 5,000 Accrued interest payable 61 — 61 — 61

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table presents the changes in each component in accumulated other comprehensive income (loss), net of tax for the nine months ended September 30, 2024 and 2023 (dollars in thousands): Unrealized Gain (Loss) Unrealized Gain (Loss) Accumulated Balance at December 31, 2022 $ (13,135) $ (4,513) $ (17,648) Unrealized holding gains, net of tax of $74 280 — 280 Amortization of unrealized holding losses, net of tax of $174 — 656 656 Reclassification adjustment, net of tax of $66 246 — 246 Balance at September 30, 2023 $ (12,609) $ (3,857) $ (16,466) Balance at December 31, 2023 $ (7,931) $ (3,634) $ (11,565) Unrealized holding gains, net of tax of $932 3,507 — 3,507 Amortization of unrealized holding losses, net of tax of $166 — 627 627 Reclassification adjustment, net of tax of $14 — 51 51 Balance at September 30, 2024 $ (4,424) $ (2,956) $ (7,380) The following table presents the amounts reclassified out of accumulated other comprehensive loss, net of tax for the period ending September 30, 2024 (dollars in thousands): September 30, Line Item in the Consolidated Statements of Income Securities held to maturity Net securities loss reclassified into earnings $ (65) Loss on sale of securities Related income tax benefit 14 Income tax expense Total reclassifications into net income $ (51) Net of tax The following table presents the amounts reclassified out of accumulated other comprehensive loss, net of tax for the period ending September 30, 2023 (dollars in thousands): September 30, Line Item in the Consolidated Statements of Income Securities available for sale Net securities loss reclassified into earnings $ (312) Loss on sale of securities Related income tax benefit 66 Income tax expense Total reclassifications into net income $ (246) Net of tax

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Effective October 3, 2024, and pursuant to the stock Reclassification described in Note 2 - Capital Structure, the Company’s stock is comprised of two classes: Class A Common Stock and Class B Common Stock. Except in regard to voting and conversion rights, the rights of Class A Common Stock and Class B Common Stock are identical, and the classes rank equally and share ratably with regard to all other matters. Each share of Class B Common Stock is convertible at any time into one share of Class A Common Stock. On October 3, 2024, 26,876 existing shares of Old Common Stock held by the company’s pre-IPO investors were reclassified into 4,568,920 shares of Class B Common Stock. In connection with the IPO, the Company issued 1,850,000 shares of Class A Common Stock on October 7, 2024 and 142,897 shares of Class A Common Stock on November 1, 2024. See Note 2—Capital Structure in the Notes to Unaudited Consolidated Financial Statements contained within this Form 10-Q for further information regarding the stock Reclassification and the IPO. When declared by the Company’s Board of Directors, holders of Class A Common Stock and Class B Common Stock are entitled to receive dividends equally and ratably on a per-share basis. The Company did not pay dividends to any stockholder during 2023 or the nine-month period ending September 30, 2024. Under the two-class method, earnings available to common stockholders are allocated ratably on a per-share basis between Class A Common Stock and Class B Common Stock. The table below provides a reconciliation of the combined Class A and Class B Common Stock numerators and denominators of the earnings per share computations. The table gives effect to the Reclassification of 26,876 shares of Old Common Stock into 4,568,920 shares of Class B Common Stock on October 3, 2024. It does not give effect to the issuance of 1,850,000 and 142,897 shares of Class A Common Stock issued in connection with the IPO on October 7, 2024 and November 1, 2024, respectively, and there were no shares of Class A Common Stock outstanding during any of the periods reported. The number of basic and diluted shares are the same because there are no potentially dilutive instruments. Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2024 2023 2024 2023 Net Income $ 7,487 $ 2,843 $ 17,209 $ 5,517 Dividends declared on common stock Class A Common Stock $ — $ — $ — $ — Class B Common Stock $ — $ — $ — $ — Undistributed net income for basic and diluted earnings per share $ 7,487 $ 2,843 $ 17,209 $ 5,517 Weighted average shares outstanding Class A Common Stock — — — — Class B Common Stock 4,568,920 4,568,240 4,568,920 4,568,240 Weighted average shares outstanding, basic and dilutive 4,568,920 4,568,240 4,568,920 4,568,240 Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2024 2023 2024 2023 Earnings per common share, basic and diluted Class A Common Stock Per share dividends distributed $ — $ — $ — $ — Undistributed earnings per share — — — — Total basic and diluted earnings per share - Class A Common Stock $ — $ — $ — $ — Class B Common Stock Per share dividends distributed $ — $ — $ — $ — Undistributed earnings per share 1.64 0.62 3.77 1.21 Total basic and diluted earnings per share - Class B Common Stock $ 1.64 $ 0.62 $ 3.77 $ 1.21

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events There were no subsequent events other than those disclosed in Note 2. Capital Structure , Note 5. Deposits , and Note 6. Borrowings .

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 7,487	$ 5,805	$ 3,917	$ 2,843	$ 1,626	$ 1,048	$ 17,209	$ 5,517

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation
Reclassification	Reclassification
Significant Accounting Policies and Recent Accounting Pronouncements	Significant Accounting Policies The accounting and reporting policies of the Company are in accordance with GAAP and conform to general practices within the banking industry. The Company’s significant accounting policies are described in the Note 1 of the “Notes to the Consolidated Financial Statements” included in the audited consolidated financial statements for the fiscal year ended December 31, 2023. There have been no significant changes to the application of significant accounting policies since December 31, 2023. In preparing financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Estimates are evaluated on an ongoing basis. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses (“ACL”) on loans and held to maturity debt securities. Recent Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The amendments in this ASU require an entity to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold, which is greater than five percent of the amount computed by multiplying pretax income by the entity’s applicable statutory rate, on an annual basis. Additionally, the amendments in this ASU require an entity to disclose the amount of income taxes paid (net of refunds received) disaggregated by federal, state, and foreign taxes and the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions that are equal to or greater than five percent of total income taxes paid (net of refunds received). Lastly, the amendments in this ASU require an entity to disclose income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign and income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. This ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied on a prospective basis; however, retrospective application is permitted. The Company does not expect the adoption of ASU 2023-09 to have a material impact on its consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” ASU 2024-03 requires public companies to disclose, in the notes to the financial statements, specific information about certain costs and expenses at each interim and annual reporting period. This includes disclosing amounts related to employee compensation, depreciation, and intangible asset amortization. In addition, public companies will need to provide qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. ASU 2024-03 is effective for public business entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Implementation of ASU 2024-03 may be applied prospectively or retrospectively. The Company does not expect the adoption of ASU 2024-03 to have a material impact on its consolidated financial statements.

Capital Structure (Tables)

Capital Structure (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	As of September 30, 2024 Unadjusted As adjusted for Reclassification As Further Adjusted for IPO (dollars in thousands, except per share data) Cash and cash equivalents $ 639,767 $ 639,767 $ 666,293 Debt: Short-term borrowings $ 10,000 $ 10,000 $ — Stockholders’ equity: Preferred Stock, no par value; 100,000 shares authorized, none issued and outstanding, unadjusted ; no par value, 10,000,000 shares authorized, none issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO $ — $ — $ — Old Common Stock, $1.00 par value; 200,000 shares authorized, 26,876 shares issued and outstanding, unadjusted ; no shares authorized, no shares issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO $ 27 $ — $ — Class A Common Stock, $0.01 par value; no shares authorized, no shares issued and outstanding, unadjusted ; 20,000,000 shares authorized, no shares issued and outstanding, as adjusted for Reclassification ; 20,000,000 shares authorized, 1,992,897 shares issued and outstanding, as further adjusted for IPO $ — $ — $ 20 Class B Common Stock, $0.01 par value; no shares authorized, no shares issued and outstanding, unadjusted ; 10,000,000 shares authorized, 4,568,920 shares issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO $ — $ 46 $ 46 Additional paid-in capital $ 38,295 $ 38,276 $ 74,782 Retained earnings $ 73,901 $ 73,901 $ 73,901 Accumulated other comprehensive loss $ (7,380) $ (7,380) $ (7,380) Total stockholders’ equity $ 104,843 $ 104,843 $ 141,369

Securities & Allowance for Se_2

Securities & Allowance for Securities Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule Of Marketable Securities	The following tables summarize the amortized cost, gross unrealized gains and losses, fair value and allowance for credit losses of AFS and HTM debt securities at September 30, 2024 and December 31, 2023 (dollars in thousands): September 30, 2024 Amortized Gross Gross Fair Allowance Securities available for sale: U.S. government and federal agencies $ 131,089 $ 52 $ (1,416) $ 129,725 $ — Mortgage backed securities 8,658 — (429) 8,229 — Corporate bonds 53,283 62 (750) 52,595 — State and municipal securities 107,323 88 (3,206) 104,205 — Total securities available for sale $ 300,353 $ 202 $ (5,801) $ 294,754 $ — Securities held to maturity: U.S. government and federal agencies $ 122,447 $ 6 $ (7,236) $ 115,217 $ — Mortgage backed securities 1,173 — (1) 1,172 — Corporate bonds 58,409 90 (1,545) 56,954 (230) State and municipal securities 120,580 23 (8,166) 112,437 (31) Total securities held to maturity $ 302,609 $ 119 $ (16,948) $ 285,780 $ (261) Total securities $ 602,962 $ 321 $ (22,749) $ 580,534 $ (261) December 31, 2023 Amortized Gross Gross Fair Allowance Securities available for sale: U.S. government and federal agencies $ 95,129 $ 32 $ (2,864) $ 92,297 $ — Mortgage backed securities 9,247 11 (609) 8,649 — Corporate bonds 57,304 5 (1,837) 55,472 — State and municipal securities 106,472 34 (4,810) 101,696 — Total securities available for sale $ 268,152 $ 82 $ (10,120) $ 258,114 $ — Securities held to maturity: U.S. government and federal agencies $ 123,938 $ — $ (10,069) $ 113,869 $ — Mortgage backed securities 1,190 — (17) 1,173 — Corporate bonds 59,629 59 (3,027) 56,661 (322) State and municipal securities 123,649 6 (11,442) 112,213 (26) Total securities held to maturity $ 308,406 $ 65 $ (24,555) $ 283,916 $ (348) Total securities $ 576,558 $ 147 $ (34,675) $ 542,030 $ (348)
Schedule of Proceeds, Realized Gain and Loss	The proceeds, gross realized gains and losses from sales of debt securities during the three and nine months ended September 30, 2024 and 2023 were as follows (dollars in thousands): Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Available for Sale Held to Maturity Available for Sale Held to Maturity Proceeds from sales of securities $ — $ 953 $ — $ 953 Gross gains — — — — Gross losses — (65) — (65) Net losses on sale of a securities $ — $ (65) $ — $ (65) Income tax benefit attributable to realized net losses on sale of securities $ — $ 14 $ — $ 14 Three Months Ended Nine Months Ended Available for Sale Held to Maturity Available for Sale Held to Maturity Proceeds from sales of securities $ 977 $ — $ 1,929 $ — Gross gains — — — — Gross losses (30) — (312) — Net losses on sale of a securities $ (30) $ — $ (312) $ — Income tax benefit attributable to realized net losses on sale of securities $ 6 $ — $ 66 $ —
Schedule of Amortized Cost and Fair Value of Investment Securities	The amortized cost and fair value of debt securities by contractual maturity at September 30, 2024 is as follows (dollars in thousands): Available for Sale Held to Maturity Amortized Fair Amortized Fair Within one year $ 166,593 $ 166,033 $ 16,873 $ 16,668 After one year through five years 98,391 95,808 189,090 181,392 After five years through ten years 29,950 27,843 92,329 83,923 Over ten years 5,419 5,070 4,317 3,797 Total $ 300,353 $ 294,754 $ 302,609 $ 285,780
Schedule of Available-for-sale in Continuous Unrealized Loss Position	The following table shows the gross unrealized losses and fair value of the Company’s AFS debt securities with unrealized losses aggregated by investment category and length of time that individual debt securities have been in a continuous unrealized loss position at September 30, 2024 and December 31, 2023 (dollars in thousands): September 30, 2024 Less Than Twelve Over Twelve Months Total Gross Fair Gross Fair Gross Fair Securities available for sale: U.S. government and federal agencies $ (1) $ 10,997 $ (1,415) $ 46,445 $ (1,416) $ 57,442 Mortgage backed securities — 27 (429) 8,170 (429) 8,197 Corporate bonds (17) 5,454 (733) 37,865 (750) 43,319 State and municipal securities (27) 6,061 (3,179) 83,089 (3,206) 89,150 Total securities available for sale $ (45) $ 22,539 $ (5,756) $ 175,569 $ (5,801) $ 198,108 December 31, 2023 Less Than Twelve Over Twelve Months Total Gross Fair Gross Fair Gross Fair Securities available for sale: U.S. government and federal agencies $ (16) $ 5,860 $ (2,848) $ 70,906 $ (2,864) $ 76,766 Mortgage backed securities — — (609) 8,604 (609) 8,604 Corporate bonds (3) 2,482 (1,834) 51,987 (1,837) 54,469 State and municipal securities (31) 3,675 (4,779) 89,828 (4,810) 93,503 Total securities available for sale $ (50) $ 12,017 $ (10,070) $ 221,325 $ (10,120) $ 233,342
Schedule of Debt Securities, Available-for-Sale, Allowance for Credit Loss	The table below presents a rollforward by major security type of the allowance for credit losses on AFS debt securities for the nine months ended September 30, 2024 and 2023 (dollars in thousands): September 30, 2024 For the nine months ended U.S. Mortgage Corporate State and Total AFS Allowance for credit losses: Beginning balance, December 31, 2023 $ — $ — $ — $ — $ — Provision for (recapture of) credit losses — — (210) — (210) Write offs charged against the allowance — — — — — Recoveries of amounts previously written off — — 210 — 210 Ending balance, September 30, 2024 $ — $ — $ — $ — $ — At September 30, 2024, there was no allowance for credit losses on AFS debt securities recorded. During the nine months ended September 30, 2024, the Bank received proceeds totaling $210 thousand for a bond that was fully charged off during 2023, and recorded a recovery of credit loss. The entire ACL recovery during 2024 was recorded in the first quarter. September 30, 2023 For the nine months ended U.S. Mortgage Corporate State and Total AFS Allowance for credit losses: Beginning balance, December 31, 2022 $ — $ — $ — $ — $ — Impact of adopting ASC 326 — — — — — Provision for credit losses — — 785 — 785 Write offs charged against the allowance — — (785) — (785) Recoveries of amounts previously written off — — — — — Ending balance, September 30, 2023 $ — $ — $ — $ — $ —
Schedule of Debt Securities, Held-to-Maturity, Credit Quality Indicator	The following table presents the amortized cost of HTM debt securities as of September 30, 2024 and December 31, 2023 by security type and credit rating (dollars in thousands): September 30, 2024 U.S. Mortgage Corporate State and Total HTM AAA / AA / A $ 122,447 $ 1,173 $ 18,447 $ 120,580 $ 262,647 BBB / BB / B — — 39,962 — 39,962 Total $ 122,447 $ 1,173 $ 58,409 $ 120,580 $ 302,609 December 31, 2023 U.S. Mortgage Corporate State and Total HTM AAA / AA / A $ 123,938 $ 1,190 $ 20,091 $ 123,168 $ 268,387 BBB / BB / B — — 39,538 481 40,019 Total $ 123,938 $ 1,190 $ 59,629 $ 123,649 $ 308,406
Schedule of Amortized Cost of HTM Debt Securities	The following tables summarize the change in the allowance for credit losses on HTM debt securities for the three and nine months ended September 30, 2024 and 2023 and the twelve months ended December 31, 2023 (dollars in thousands): September 30, 2024 For the three months ended U.S. Mortgage Corporate State and Total HTM Allowance for credit losses: Beginning balance, June 30, 2024 $ — $ — $ 215 $ 33 $ 248 Provision for (recapture of) credit losses — — 15 (2) 13 Write offs charged against the allowance — — — — — Recoveries of amounts previously written off — — — — — Ending balance, September 30, 2024 $ — $ — $ 230 $ — $ 31 $ — $ 261 September 30, 2023 For the three months ended U.S. Mortgage Corporate State and Total HTM Allowance for credit losses: Beginning balance, June 30, 2023 $ — $ — $ 316 $ 26 $ 342 Provision for (recapture of) credit losses — — (8) 14 6 Write offs charged against the allowance — — — — — Recoveries of amounts previously written off — — — — — Ending balance, September 30, 2023 — — 308 40 348 September 30, 2024 For the nine months ended U.S. Mortgage Corporate State and Total HTM Allowance for credit losses: Beginning balance, December 31, 2023 $ — $ — $ 322 $ 26 $ 348 Provision for (recapture of) credit losses — — (92) 5 (87) Write offs charged against the allowance — — — — — Recoveries of amounts previously written off — — — — — Ending balance, September 30, 2024 $ — $ — $ 230 $ 31 $ 261 September 30, 2023 For the nine months ended U.S. Mortgage Corporate State and Total HTM Allowance for credit losses: Beginning balance, December 31, 2022 $ — $ — $ — $ — $ — Impact of adopting ASC 326 — — 303 26 329 Provision for credit losses — — 5 14 19 Write offs charged against the allowance — — — — — Recoveries of amounts previously written off — — — — — Ending balance, September 30, 2023 $ — $ — $ 308 $ 40 $ 348

Loans and Allowance for Loan _2

Loans and Allowance for Loan Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Schedule of Composition of the Loan Portfolio	A summary of the composition of the loan portfolio at September 30, 2024 and December 31, 2023 (dollars in thousands): September 30, 2024 December 31, 2023 Commercial real estate $ 51,387 $ 60,138 Commercial 11,144 12,438 Residential real estate closed-end 218,129 210,358 Other consumer loans 19,372 21,210 300,032 304,144 Less allowance for credit losses (4,206) (4,319) Loans, net $ 295,826 $ 299,825
Schedule of Allowance for Credit Losses by Portfolio Type	The following tables present the activity in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2024 and 2023 (dollars in thousands): September 30, 2024 Commercial Commercial Residential Other Total For the three months ended Allowance for credit losses: Beginning balance, June 30, 2024 $ 1,136 $ 167 $ 2,756 $ 278 $ 4,337 Provision for (recapture of) credit losses (114) (3) 18 (32) (131) Loans charged-off — — — — — Recoveries collected — — — — — Ending balance, September 30, 2024 $ 1,022 $ 164 $ 2,774 $ 246 $ 4,206 September 30, 2023 Commercial Commercial Residential Other Total For the three months ended Allowance for credit losses: Beginning balance, June 30, 2023 $ 1,142 $ 239 $ 2,793 $ 225 $ 4,399 Provision for (recapture of) credit losses (102) (48) 170 (19) 1 Loans charged-off — — — — — Recoveries collected — — — — — Ending balance, September 30, 2023 $ 1,040 $ 191 $ 2,963 $ 206 $ 4,400 September 30, 2024 Commercial Commercial Residential Other Total For the nine months ended Allowance for credit losses: Beginning balance, December 31, 2023 $ 1,233 $ 189 $ 2,668 $ 229 $ 4,319 Provision for (recapture of) credit losses (211) (25) 106 17 (113) Loans charged-off — — — — — Recoveries collected — — — — — Ending balance, September 30, 2024 $ 1,022 $ 164 $ 2,774 $ 246 $ 4,206 September 30, 2023 Commercial Commercial Residential Other Total For the nine months ended Allowance for credit losses: Beginning balance, December 31, 2022 $ 905 $ 573 $ 2,650 $ 354 $ 4,482 Impact of adopting ASC 326 130 19 (16) (133) — Provision for (recapture of) credit losses 5 (401) 329 (15) (82) Loans charged-off — — — — — Recoveries collected — — — — — Ending balance, September 30, 2023 $ 1,040 $ 191 $ 2,963 $ 206 $ 4,400
Schedule of Amortized Costs by Segment of Loans and Credit Risk Profile of Loan Portfolio	The following table presents the outstanding balance of the loan portfolio, by year of origination, loan classification, and credit quality, as of September 30, 2024 and December 31, 2023 (dollars in thousands): September 30, 2024 Term Loans by Year of Origination Revolving Loans Revolving to Term Loans Total 2024 2023 2022 2021 2020 Prior Commercial real estate Pass $ — $ 1,338 $ 5,458 $ 8,950 $ 3,500 $ 26,581 $ — $ 3,690 $ 49,517 Special Mention — — — — — 1,526 — — 1,526 Substandard — — — — — 344 — — 344 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ — $ 1,338 $ 5,458 $ 8,950 $ 3,500 $ 28,451 $ — $ 3,690 $ 51,387 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial Pass $ 424 $ — $ 557 $ 11 $ 3 $ 1,389 $ 8,760 $ — $ 11,144 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 424 $ — $ 557 $ 11 $ 3 $ 1,389 $ 8,760 $ — $ 11,144 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — September 30, 2024 Term Loans by Year of Origination Revolving Loans Revolving to Term Loans Total 2024 2023 2022 2021 2020 Prior Residential real estate closed-end Pass $ 18,574 $ 17,911 $ 47,541 $ 43,650 $ 23,600 $ 66,616 $ — $ — $ 217,892 Special Mention — — — — — — — — — Substandard — — — — — 237 — — 237 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 18,574 $ 17,911 $ 47,541 $ 43,650 $ 23,600 $ 66,853 $ — $ — $ 218,129 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Other consumer loans Pass $ — $ — $ — $ — $ — $ — $ 17,869 $ 1,503 $ 19,372 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ — $ — $ — $ — $ — $ — $ 17,869 $ 1,503 $ 19,372 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — December 31, 2023 Term Loans by Year of Origination Revolving Loans Revolving to Term Loans Total 2023 2022 2021 2020 2019 Prior Commercial real estate Pass $ 849 $ 5,521 $ 9,327 $ 3,713 $ 8,015 $ 21,875 $ — $ 8,895 $ 58,195 Special Mention — — — — — 1,570 — — 1,570 Substandard — — — — — 373 — — 373 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 849 $ 5,521 $ 9,327 $ 3,713 $ 8,015 $ 23,818 $ — $ 8,895 $ 60,138 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial Pass $ — $ 573 $ 14 $ 42 $ 1,352 $ 309 $ 10,148 $ — $ 12,438 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ — $ 573 $ 14 $ 42 $ 1,352 $ 309 $ 10,148 $ — $ 12,438 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — December 31, 2023 Term Loans by Year of Origination Revolving Loans Revolving to Term Loans Total 2023 2022 2021 2020 2019 Prior Residential real estate closed end Pass $ 20,230 $ 45,920 $ 45,528 $ 25,150 $ 18,035 $ 55,253 $ — $ — $ 210,116 Special Mention — — — — — — — — — Substandard — — — — — 242 — — 242 Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ 20,230 $ 45,920 $ 45,528 $ 25,150 $ 18,035 $ 55,495 $ — $ — $ 210,358 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Other consumer loans Pass $ — $ — $ 32 $ — $ — $ — $ 17,703 $ 3,475 $ 21,210 Special Mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total $ — $ — $ 32 $ — $ — $ — $ 17,703 $ 3,475 $ 21,210 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets Measured on Recurring Basis	The following table presents the balances of financial assets measured at fair value on a recurring basis (dollars in thousands): Fair Value Measurements Using Financial Assets Balances Level 1 Level 2 Level 3 As of September 30, 2024: Available for sale securities: U.S. government and federal agencies $ 129,725 $ 125,773 $ 3,952 $ — Mortgage backed securities 8,229 — 8,229 — Corporate bonds 52,595 492 52,103 — State and municipal securities 104,205 — 104,205 — Total available for sale securities $ 294,754 $ 126,265 $ 168,489 $ — Equity securities 527 527 — — Total $ 295,281 $ 126,792 $ 168,489 $ — As of December 31, 2023: Available for sale securities: U.S. government and federal agencies $ 92,297 $ 78,817 $ 13,480 $ — Mortgage backed securities 8,649 — 8,649 — Corporate bonds 55,472 475 54,997 — State and municipal securities 101,696 — 101,696 — Total available for sale securities $ 258,114 $ 79,292 $ 178,822 $ — Equity securities 505 505 — — Total $ 258,619 $ 79,797 $ 178,822 $ —
Schedule of Fair Value, by Balance Sheet Grouping	The following tables present the carrying value and estimated fair value including the level within the fair value hierarchy of the Company’s financial instruments as of September 30, 2024 and December 31, 2023 (dollars in thousands): Carrying Fair Value Measurements Using Total Level 1 Level 2 Level 3 As of September 30, 2024: Financial assets: Cash and due from banks $ 639,767 $ 639,767 $ — $ — $ 639,767 Securities available for sale 294,754 126,265 168,489 — 294,754 Securities held to maturity, net 302,348 109,514 176,266 — 285,780 Equity securities 527 527 — — 527 Restricted securities 2,886 — 2,886 — 2,886 Loans, net 295,826 — — 286,987 286,987 Accrued interest receivable 5,360 — 5,360 — 5,360 Financial liabilities: Demand and savings deposits $ 1,421,999 $ — $ 1,249,724 $ 163,186 $ 1,412,910 Time deposits 11,869 — — 11,829 11,829 Short-term borrowings 10,000 — 10,000 — 10,000 Accrued interest payable 25 — 25 — 25 Carrying Fair Value Measurements Using Total Level 1 Level 2 Level 3 As of December 31, 2023: Financial assets: Cash and due from banks $ 316,767 $ 316,767 $ — $ — $ 316,767 Securities available for sale 258,114 79,292 178,822 — 258,114 Securities held to maturity, net 308,058 106,837 177,079 — 283,916 Equity securities 505 505 — — 505 Restricted securities 2,613 — 2,613 — 2,613 Loans, net 299,825 — — 280,352 280,352 Accrued interest receivable 4,354 — 4,354 — 4,354 Financial liabilities: Demand and savings deposits $ 1,095,283 $ — $ 766,933 $ 299,765 $ 1,066,698 Time deposits 16,742 — — 16,600 16,600 Short-term borrowings 5,000 — 5,000 — 5,000 Accrued interest payable 61 — 61 — 61

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following table presents the changes in each component in accumulated other comprehensive income (loss), net of tax for the nine months ended September 30, 2024 and 2023 (dollars in thousands): Unrealized Gain (Loss) Unrealized Gain (Loss) Accumulated Balance at December 31, 2022 $ (13,135) $ (4,513) $ (17,648) Unrealized holding gains, net of tax of $74 280 — 280 Amortization of unrealized holding losses, net of tax of $174 — 656 656 Reclassification adjustment, net of tax of $66 246 — 246 Balance at September 30, 2023 $ (12,609) $ (3,857) $ (16,466) Balance at December 31, 2023 $ (7,931) $ (3,634) $ (11,565) Unrealized holding gains, net of tax of $932 3,507 — 3,507 Amortization of unrealized holding losses, net of tax of $166 — 627 627 Reclassification adjustment, net of tax of $14 — 51 51 Balance at September 30, 2024 $ (4,424) $ (2,956) $ (7,380)
Reclassification out of Accumulated Other Comprehensive Loss	The following table presents the amounts reclassified out of accumulated other comprehensive loss, net of tax for the period ending September 30, 2024 (dollars in thousands): September 30, Line Item in the Consolidated Statements of Income Securities held to maturity Net securities loss reclassified into earnings $ (65) Loss on sale of securities Related income tax benefit 14 Income tax expense Total reclassifications into net income $ (51) Net of tax The following table presents the amounts reclassified out of accumulated other comprehensive loss, net of tax for the period ending September 30, 2023 (dollars in thousands): September 30, Line Item in the Consolidated Statements of Income Securities available for sale Net securities loss reclassified into earnings $ (312) Loss on sale of securities Related income tax benefit 66 Income tax expense Total reclassifications into net income $ (246) Net of tax

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic Two Class Method	Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2024 2023 2024 2023 Net Income $ 7,487 $ 2,843 $ 17,209 $ 5,517 Dividends declared on common stock Class A Common Stock $ — $ — $ — $ — Class B Common Stock $ — $ — $ — $ — Undistributed net income for basic and diluted earnings per share $ 7,487 $ 2,843 $ 17,209 $ 5,517 Weighted average shares outstanding Class A Common Stock — — — — Class B Common Stock 4,568,920 4,568,240 4,568,920 4,568,240 Weighted average shares outstanding, basic and dilutive 4,568,920 4,568,240 4,568,920 4,568,240 Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2024 2023 2024 2023 Earnings per common share, basic and diluted Class A Common Stock Per share dividends distributed $ — $ — $ — $ — Undistributed earnings per share — — — — Total basic and diluted earnings per share - Class A Common Stock $ — $ — $ — $ — Class B Common Stock Per share dividends distributed $ — $ — $ — $ — Undistributed earnings per share 1.64 0.62 3.77 1.21 Total basic and diluted earnings per share - Class B Common Stock $ 1.64 $ 0.62 $ 3.77 $ 1.21

Capital Structure - Narrative (

Capital Structure - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands					9 Months Ended
	Nov. 01, 2024	Oct. 10, 2024	Oct. 07, 2024	Oct. 03, 2024	Sep. 30, 2024	Oct. 02, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)					10,000,000		10,000,000
Unsecured line of credit					$ 10,000		$ 5,000	[1]
Unadjusted
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)					100,000
Unsecured line of credit					$ 10,000
Subsequent Event
Class of Stock [Line Items]
Repayments of short-term debt		$ 10,000
Preferred stock, shares authorized (in shares)				10,000,000		100,000
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)					$ 0.01		$ 0.01
Common stock, shares outstanding (in shares)					0		0
Common stock, shares issued (in shares)					0		0
Class A Common Stock | Unadjusted
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)					0
Common stock, shares issued (in shares)					0
Class A Common Stock | Subsequent Event
Class of Stock [Line Items]
Sale of stock	142,897		1,850,000
Common stock, par value (in dollars per share)				$ 0.01
Total net proceeds	$ 2,900
Net proceeds			$ 33,600
Common stock, shares outstanding (in shares)				0
Common stock, shares issued (in shares)				0
Class A Common Stock | Subsequent Event | IPO
Class of Stock [Line Items]
Sale of stock			1,850,000
Common stock, par value (in dollars per share)			$ 0.01
Share price ( in dollars per share)			$ 22
Total net proceeds			$ 37,100
Class A Common Stock | Subsequent Event | Over-Allotment Option
Class of Stock [Line Items]
Sale of stock	277,500
Class B Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)					$ 0.01		$ 0.01
Shares converted					170
Common stock, shares outstanding (in shares)					4,568,920		4,568,240
Common stock, shares issued (in shares)					4,568,920		4,568,240
Class B Common Stock | Unadjusted
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)					0
Common stock, shares issued (in shares)					0
Class B Common Stock | Subsequent Event
Class of Stock [Line Items]
Common stock, par value (in dollars per share)				$ 0.01
Shares converted				170
Common stock, shares outstanding (in shares)				4,568,920
Common stock, shares issued (in shares)				4,568,920
Old Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)					$ 1
Old Common Stock | Unadjusted
Class of Stock [Line Items]
Common stock, par value (in dollars per share)					$ 1
Common stock, shares outstanding (in shares)					26,876
Common stock, shares issued (in shares)					26,876
Old Common Stock | Subsequent Event
Class of Stock [Line Items]
Common stock, par value (in dollars per share)				$ 1
Common stock, shares outstanding (in shares)				0
Common stock, shares issued (in shares)				0
Old Common Stock | Subsequent Event | Unadjusted
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)				26,876
[1]Derived from audited financial statements.

Capital Structure - Schedule of

Capital Structure - Schedule of Sale of Stock by Subsidiary or Equity Method Investee Disclosure (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	[1]	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Cash and cash equivalents		$ 639,767			$ 316,767
Debt: Short-term borrowings		10,000			5,000
Preferred Stock, no par value; 100,000 shares authorized, none issued and outstanding, unadjusted; no par value, 10,000,000 shares authorized, none issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO	[2]	0			0
Additional paid-in capital		38,276			38,264
Retained earnings		73,901			56,692
Accumulated other comprehensive loss		(7,380)			(11,565)
Total stockholders’ equity		104,843	$ 93,993	$ 87,601	83,437		$ 75,153	$ 73,044	$ 72,569	$ 68,783
Class A Common Stock
Class of Stock [Line Items]
Old Common Stock	[2]	0			0
Class B Common Stock
Class of Stock [Line Items]
Old Common Stock	[2]	46			$ 46
Unadjusted
Class of Stock [Line Items]
Cash and cash equivalents		639,767
Debt: Short-term borrowings		10,000
Preferred Stock, no par value; 100,000 shares authorized, none issued and outstanding, unadjusted; no par value, 10,000,000 shares authorized, none issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO		0
Additional paid-in capital		38,295
Retained earnings		73,901
Accumulated other comprehensive loss		(7,380)
Total stockholders’ equity		104,843
Unadjusted | Old Common Stock
Class of Stock [Line Items]
Old Common Stock		27
Unadjusted | Class A Common Stock
Class of Stock [Line Items]
Old Common Stock		0
Unadjusted | Class B Common Stock
Class of Stock [Line Items]
Old Common Stock		0
As adjusted for Reclassification
Class of Stock [Line Items]
Cash and cash equivalents		639,767
Debt: Short-term borrowings		10,000
Preferred Stock, no par value; 100,000 shares authorized, none issued and outstanding, unadjusted; no par value, 10,000,000 shares authorized, none issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO		0
Additional paid-in capital		38,276
Retained earnings		73,901
Accumulated other comprehensive loss		(7,380)
Total stockholders’ equity		104,843
As adjusted for Reclassification | Old Common Stock
Class of Stock [Line Items]
Old Common Stock		0
As adjusted for Reclassification | Class A Common Stock
Class of Stock [Line Items]
Old Common Stock		0
As adjusted for Reclassification | Class B Common Stock
Class of Stock [Line Items]
Old Common Stock		46
As Further Adjusted for IPO
Class of Stock [Line Items]
Cash and cash equivalents		666,293
Debt: Short-term borrowings		0
Preferred Stock, no par value; 100,000 shares authorized, none issued and outstanding, unadjusted; no par value, 10,000,000 shares authorized, none issued and outstanding, as adjusted for Reclassification and as further adjusted for IPO		0
Additional paid-in capital		74,782
Retained earnings		73,901
Accumulated other comprehensive loss		(7,380)
Total stockholders’ equity		141,369
As Further Adjusted for IPO | Old Common Stock
Class of Stock [Line Items]
Old Common Stock		0
As Further Adjusted for IPO | Class A Common Stock
Class of Stock [Line Items]
Old Common Stock		20
As Further Adjusted for IPO | Class B Common Stock
Class of Stock [Line Items]
Old Common Stock		$ 46
[1]Derived from audited financial statements.[2]On October 3, 2024, the Company filed an Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware, which reclassified and converted each outstanding share of the Company’s existing common stock, par value $1.00 per share (“Old Common Stock”), into 170 shares of Class B Common Stock, par value $0.01 per share (the “Reclassification”). The Reclassification also authorized 20,000,000 shares of Class A Common Stock, and 10,000,000 shares of Preferred Stock. Share information is presented on an as adjusted basis giving effect to the Reclassification. Accordingly, all shares and balances relating to Old Common Stock are reflected in Class B Common Stock. See Note 2—Capital Structure in the Notes to Unaudited Consolidated Financial Statements contained within this Form 10-Q.

Capital Structure - Schedule _2

Capital Structure - Schedule of Sale of Stock by Subsidiary or Equity Method Investee Disclosure Footnotes (Details) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Old Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 1
Class A Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0
Class B Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	4,568,920	4,568,240
Common stock, shares outstanding (in shares)	4,568,920	4,568,240
Unadjusted
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	100,000
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0
Unadjusted | Old Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 1
Common stock, shares authorized (in shares)	200,000
Common stock, shares issued (in shares)	26,876
Common stock, shares outstanding (in shares)	26,876
Unadjusted | Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	0
Common stock, shares issued (in shares)	0
Common stock, shares outstanding (in shares)	0
Unadjusted | Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	0
Common stock, shares issued (in shares)	0
Common stock, shares outstanding (in shares)	0
As adjusted for Reclassification
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	10,000,000
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0
As adjusted for Reclassification | Old Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	0
Common stock, shares issued (in shares)	0
Common stock, shares outstanding (in shares)	0
As adjusted for Reclassification | Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	20,000,000
Common stock, shares issued (in shares)	0
Common stock, shares outstanding (in shares)	0
As adjusted for Reclassification | Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	10,000,000
Common stock, shares issued (in shares)	4,568,920
Common stock, shares outstanding (in shares)	4,568,920
As Further Adjusted for IPO
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	10,000,000
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0
As Further Adjusted for IPO | Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	20,000,000
Common stock, shares issued (in shares)	1,992,897
Common stock, shares outstanding (in shares)	1,992,897

Securities & Allowance for Se_3

Securities & Allowance for Securities Credit Losses - Schedule of Amortized Cost and Fair Value (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023		Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Available for Sale
Amortized Cost	$ 300,353,000		$ 268,152,000
Gross Unrealized Gains	202,000		82,000
Gross Unrealized (Losses)	(5,801,000)		(10,120,000)
Fair Value	294,754,000		258,114,000	[1]
Allowance for Credit Losses	0		0		$ 0		$ 0
Held to Maturity
Amortized Cost	302,609,000		308,406,000
Gross Unrealized Gains	119,000		65,000
Gross Unrealized (Losses)	(16,948,000)		(24,555,000)
Fair Value	285,780,000		283,916,000
Allowance for Credit Losses	(261,000)	$ (248,000)	(348,000)		(348,000)	$ (342,000)	0
Total securities, Amortized Cost	602,962,000		576,558,000
Total securities, Accumulated Unrecognized Gain	321,000		147,000
Total securities, Accumulated Unrecognized Loss	(22,749,000)		(34,675,000)
Total securities, Fair Value	580,534,000		542,030,000
Total securities, Allowance for Credit Losses	(261,000)		(348,000)
U.S. government and federal agencies
Available for Sale
Amortized Cost	131,089,000		95,129,000
Gross Unrealized Gains	52,000		32,000
Gross Unrealized (Losses)	(1,416,000)		(2,864,000)
Fair Value	129,725,000		92,297,000
Allowance for Credit Losses	0		0		0		0
Held to Maturity
Amortized Cost	122,447,000		123,938,000
Gross Unrealized Gains	6,000		0
Gross Unrealized (Losses)	(7,236,000)		(10,069,000)
Fair Value	115,217,000		113,869,000
Allowance for Credit Losses	0	0	0		0	0	0
Mortgage backed securities
Available for Sale
Amortized Cost	8,658,000		9,247,000
Gross Unrealized Gains	0		11,000
Gross Unrealized (Losses)	(429,000)		(609,000)
Fair Value	8,229,000		8,649,000
Allowance for Credit Losses	0		0
Held to Maturity
Amortized Cost	1,173,000		1,190,000
Gross Unrealized Gains	0		0
Gross Unrealized (Losses)	(1,000)		(17,000)
Fair Value	1,172,000		1,173,000
Allowance for Credit Losses	0		0
Corporate Bonds
Available for Sale
Amortized Cost	53,283,000		57,304,000
Gross Unrealized Gains	62,000		5,000
Gross Unrealized (Losses)	(750,000)		(1,837,000)
Fair Value	52,595,000		55,472,000
Allowance for Credit Losses	0		0		0		0
Held to Maturity
Amortized Cost	58,409,000		59,629,000
Gross Unrealized Gains	90,000		59,000
Gross Unrealized (Losses)	(1,545,000)		(3,027,000)
Fair Value	56,954,000		56,661,000
Allowance for Credit Losses	(230,000)	(215,000)	(322,000)		(308,000)	(316,000)	0
State and municipal securities
Available for Sale
Amortized Cost	107,323,000		106,472,000
Gross Unrealized Gains	88,000		34,000
Gross Unrealized (Losses)	(3,206,000)		(4,810,000)
Fair Value	104,205,000		101,696,000
Allowance for Credit Losses	0		0		0		0
Held to Maturity
Amortized Cost	120,580,000		123,649,000
Gross Unrealized Gains	23,000		6,000
Gross Unrealized (Losses)	(8,166,000)		(11,442,000)
Fair Value	112,437,000		112,213,000
Allowance for Credit Losses	$ (31,000)	$ (33,000)	$ (26,000)		$ (40,000)	$ (26,000)	$ 0
[1]Derived from audited financial statements.

Securities & Allowance for Se_4

Securities & Allowance for Securities Credit Losses - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) position security	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) position security	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) position	Dec. 31, 2022 USD ($)
Schedule of Available-for-sale and Held-to-Maturity Securities [Line Items]
Securities	$ 0		$ 0		$ 0
Proceeds from debt securities, available-for-sale			80,964,000	$ 28,378,000
Proceeds from calls, maturities and paydowns			5,471,000	248,000
Charge off			$ 210,000
Available-for-sale, number of positions | position	792		792
Held to maturity number of positions | position					880
Available sale of securities, percentage of impairment in amortized cost basis	3.80%		3.80%
Held to maturity securities, percentage of impairment in amortized cost basis					6%
Allowance for credit loss	$ 0	$ 0	$ 0	0	$ 0	$ 0
Debt securities, held to maturity non-accrual	0		0
Equity securities, gain (loss)	$ 18,000	(15,000)	$ 11,000	(15,000)
U.S. government and federal agencies
Schedule of Available-for-sale and Held-to-Maturity Securities [Line Items]
Available-for-sale, number of positions | position	46		46
Available-for-sale, number of securities | security	61		61
Allowance for credit loss	$ 0	0	$ 0	0	0	0
Mortgage backed securities
Schedule of Available-for-sale and Held-to-Maturity Securities [Line Items]
Available-for-sale, number of positions | position	15		15
Available-for-sale, number of securities | security	20		20
Allowance for credit loss	$ 0		$ 0		0
Corporate Bonds
Schedule of Available-for-sale and Held-to-Maturity Securities [Line Items]
Available-for-sale, number of positions | position	89		89
Available-for-sale, number of securities | security	108		108
Allowance for credit loss	$ 0	0	$ 0	0	0	0
State and municipal securities
Schedule of Available-for-sale and Held-to-Maturity Securities [Line Items]
Available-for-sale, number of positions | position	269		269
Available-for-sale, number of securities | security	306		306
Allowance for credit loss	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0

Securities & Allowance for Se_5

Securities & Allowance for Securities Credit Losses - Schedule of Proceeds, Realized Gain and Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Available for Sale
Proceeds from sales of securities	$ 0	$ 977	$ 0	$ 1,929
Gross gains	0	0	0	0
Gross losses	0	(30)	0	(312)
Net losses on sale of a securities	0	(30)	0	(312)
Income tax benefit attributable to realized net losses on sale of securities	0	6	0	66
Held to Maturity
Proceeds from sales of securities	953	0	953	0
Gross gains	0	0	0	0
Gross losses	(65)	0	(65)	0
Net losses on sale of a securities	(65)	0	(65)	0
Income tax benefit attributable to realized net losses on sale of securities	$ 14	$ 0	$ 14	$ 0

Securities & Allowance for Se_6

Securities & Allowance for Securities Credit Losses - Schedule of Amortized Cost and Fair Value of Investment Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Amortized Cost
Within one year	$ 166,593
After one year through five years	98,391
After five years through ten years	29,950
Over ten years	5,419
Amortized Cost	300,353	$ 268,152
Fair Value
Within one year	166,033
After one year through five years	95,808
After five years through ten years	27,843
Over ten years	5,070
Total	294,754	258,114	[1]
Amortized Cost
Within one year	16,873
After one year through five years	189,090
After five years through ten years	92,329
Over ten years	4,317
Amortized Cost	302,609	308,406
Fair Value
Within one year	16,668
After one year through five years	181,392
After five years through ten years	83,923
Over ten years	3,797
Total	$ 285,780	$ 283,916
[1]Derived from audited financial statements.

Securities & Allowance for Se_7

Securities & Allowance for Securities Credit Losses - Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Available-for-sale and Held-to-Maturity Securities [Line Items]
Unrealized loss position for less than 12 months, unrealized loss	$ (45)	$ (50)
Unrealized loss position for less than 12 months, fair value	22,539	12,017
Unrealized loss position for more than 12 months, unrealized loss	(5,756)	(10,070)
Unrealized loss position for more than 12 months, fair value	175,569	221,325
Available-for Sale, Gross Unrealized Losses, Total	(5,801)	(10,120)
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	198,108	233,342
U.S. government and federal agencies
Schedule of Available-for-sale and Held-to-Maturity Securities [Line Items]
Unrealized loss position for less than 12 months, unrealized loss	(1)	(16)
Unrealized loss position for less than 12 months, fair value	10,997	5,860
Unrealized loss position for more than 12 months, unrealized loss	(1,415)	(2,848)
Unrealized loss position for more than 12 months, fair value	46,445	70,906
Available-for Sale, Gross Unrealized Losses, Total	(1,416)	(2,864)
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	57,442	76,766
Mortgage backed securities
Schedule of Available-for-sale and Held-to-Maturity Securities [Line Items]
Unrealized loss position for less than 12 months, unrealized loss	0	0
Unrealized loss position for less than 12 months, fair value	27	0
Unrealized loss position for more than 12 months, unrealized loss	(429)	(609)
Unrealized loss position for more than 12 months, fair value	8,170	8,604
Available-for Sale, Gross Unrealized Losses, Total	(429)	(609)
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	8,197	8,604
Corporate Bonds
Schedule of Available-for-sale and Held-to-Maturity Securities [Line Items]
Unrealized loss position for less than 12 months, unrealized loss	(17)	(3)
Unrealized loss position for less than 12 months, fair value	5,454	2,482
Unrealized loss position for more than 12 months, unrealized loss	(733)	(1,834)
Unrealized loss position for more than 12 months, fair value	37,865	51,987
Available-for Sale, Gross Unrealized Losses, Total	(750)	(1,837)
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	43,319	54,469
State and municipal securities
Schedule of Available-for-sale and Held-to-Maturity Securities [Line Items]
Unrealized loss position for less than 12 months, unrealized loss	(27)	(31)
Unrealized loss position for less than 12 months, fair value	6,061	3,675
Unrealized loss position for more than 12 months, unrealized loss	(3,179)	(4,779)
Unrealized loss position for more than 12 months, fair value	83,089	89,828
Available-for Sale, Gross Unrealized Losses, Total	(3,206)	(4,810)
Available-for Sale, Fair Value of Investments with Unrealized Losses, Total	$ 89,150	$ 93,503

Securities & Allowance for Se_8

Securities & Allowance for Securities Credit Losses - Schedule of Debt Securities, Available-for-Sale, Allowance for Credit Loss (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning period	$ 0	$ 0
Provision for (recapture of) credit losses	(210,000)	785,000
Write offs charged against the allowance	0	(785,000)
Recoveries of amounts previously written off	210,000	0
End period	0	0
Cumulative Effect, Period of Adoption, Adjustment
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning period		0
U.S. government and federal agencies
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning period	0	0
Provision for (recapture of) credit losses	0	0
Write offs charged against the allowance	0	0
Recoveries of amounts previously written off	0	0
End period	0	0
U.S. government and federal agencies | Cumulative Effect, Period of Adoption, Adjustment
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning period		0
Mortgage Backed Securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning period	0	0
Provision for (recapture of) credit losses	0	0
Write offs charged against the allowance	0	0
Recoveries of amounts previously written off	0	0
End period	0	0
Mortgage Backed Securities | Cumulative Effect, Period of Adoption, Adjustment
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning period		0
Corporate Bonds
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning period	0	0
Provision for (recapture of) credit losses	(210,000)	785,000
Write offs charged against the allowance	0	(785,000)
Recoveries of amounts previously written off	210,000	0
End period	0	0
Corporate Bonds | Cumulative Effect, Period of Adoption, Adjustment
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning period		0
State and municipal securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning period	0	0
Provision for (recapture of) credit losses	0	0
Write offs charged against the allowance	0	0
Recoveries of amounts previously written off	0	0
End period	$ 0	0
State and municipal securities | Cumulative Effect, Period of Adoption, Adjustment
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Beginning period		$ 0

Securities & Allowance for Se_9

Securities & Allowance for Securities Credit Losses - Schedule of Debt Securities, Held-to-Maturity, Credit Quality Indicator (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	$ 302,609	$ 308,406
U.S. government and federal agencies
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	122,447	123,938
Mortgage Backed Securities
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	1,173	1,190
Corporate Bonds
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	58,409	59,629
State and municipal securities
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	120,580	123,649
AAA / AA / A
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	262,647	268,387
AAA / AA / A | U.S. government and federal agencies
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	122,447	123,938
AAA / AA / A | Mortgage Backed Securities
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	1,173	1,190
AAA / AA / A | Corporate Bonds
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	18,447	20,091
AAA / AA / A | State and municipal securities
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	120,580	123,168
BBB / BB / B
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	39,962	40,019
BBB / BB / B | U.S. government and federal agencies
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	0	0
BBB / BB / B | Mortgage Backed Securities
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	0	0
BBB / BB / B | Corporate Bonds
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	39,962	39,538
BBB / BB / B | State and municipal securities
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items]
Total	$ 0	$ 481

Securities & Allowance for S_10

Securities & Allowance for Securities Credit Losses - Schedule of Amortized Cost of HTM Debt Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Beginning period	$ 248	$ 342	$ 348	$ 0
Provision for credit losses	13	6	(87)	19
Write offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Ending period	261	348	261	348
Cumulative Effect, Period of Adoption, Adjustment
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Beginning period				329
U.S. government and federal agencies
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Beginning period	0	0	0	0
Provision for credit losses	0	0	0	0
Write offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Ending period	0	0	0	0
U.S. government and federal agencies | Cumulative Effect, Period of Adoption, Adjustment
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Beginning period				0
Mortgage Backed Securities
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Beginning period	0	0	0	0
Provision for credit losses	0	0	0	0
Write offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Ending period	0	0	0	0
Mortgage Backed Securities | Cumulative Effect, Period of Adoption, Adjustment
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Beginning period				0
Corporate Bonds
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Beginning period	215	316	322	0
Provision for credit losses	15	(8)	(92)	5
Write offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Ending period	230	308	230	308
Corporate Bonds | Cumulative Effect, Period of Adoption, Adjustment
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Beginning period				303
State and municipal securities
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Beginning period	33	26	26	0
Provision for credit losses	(2)	14	5	14
Write offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Ending period	$ 31	$ 40	$ 31	40
State and municipal securities | Cumulative Effect, Period of Adoption, Adjustment
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Beginning period				$ 26

Loans and Allowance for Loan _3

Loans and Allowance for Loan Credit Losses - Schedule of Composition of the Loan Portfolio (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023		Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	$ 300,032		$ 304,144
Less allowance for credit losses	(4,206)	$ (4,337)	(4,319)		$ (4,400)	$ (4,399)	$ (4,482)
Loans, net	295,826		299,825	[1]
Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	51,387		60,138
Less allowance for credit losses	(1,022)	(1,136)	(1,233)		(1,040)	(1,142)	(905)
Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	11,144		12,438
Less allowance for credit losses	(164)	(167)	(189)		(191)	(239)	(573)
Residential real estate closed-end
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	218,129		210,358
Less allowance for credit losses	(2,774)	(2,756)	(2,668)		(2,963)	(2,793)	(2,650)
Other consumer loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Total Loans	19,372		21,210
Less allowance for credit losses	$ (246)	$ (278)	$ (229)		$ (206)	$ (225)	$ (354)
[1]Derived from audited financial statements.

Loans and Allowance for Loan _4

Loans and Allowance for Loan Credit Losses - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Overdrafts totaling	$ 697	$ 10
Deferred costs, loan	511	466
Loans outstanding	300,032	304,144
Affiliated Entity
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans outstanding	$ 8,600	$ 6,900

Loans and Allowance for Loan _5

Loans and Allowance for Loan Credit Losses - Schedule of Allowance for Credit Losses by Portfolio Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Allowance for credit losses:
Balance, beginning of period	$ 4,337	$ 4,399	$ 4,319	$ 4,482	$ 4,482
Provision for (recapture of) loan credit losses	(131)	1	(113)	(82)
Loans charged-off	0	0	0	0
Recoveries collected	0	0	0	0
Balance, end of period	4,206	4,400	4,206	4,400	4,319
Cumulative Effect, Period of Adoption, Adjustment
Allowance for credit losses:
Balance, beginning of period				0	0
Commercial real estate
Allowance for credit losses:
Balance, beginning of period	1,136	1,142	1,233	905	905
Provision for (recapture of) loan credit losses	(114)	(102)	(211)	5
Loans charged-off	0	0	0	0	0
Recoveries collected	0	0	0	0
Balance, end of period	1,022	1,040	1,022	1,040	1,233
Commercial real estate | Cumulative Effect, Period of Adoption, Adjustment
Allowance for credit losses:
Balance, beginning of period				130	130
Commercial
Allowance for credit losses:
Balance, beginning of period	167	239	189	573	573
Provision for (recapture of) loan credit losses	(3)	(48)	(25)	(401)
Loans charged-off	0	0	0	0	0
Recoveries collected	0	0	0	0
Balance, end of period	164	191	164	191	189
Commercial | Cumulative Effect, Period of Adoption, Adjustment
Allowance for credit losses:
Balance, beginning of period				19	19
Residential real estate closed-end
Allowance for credit losses:
Balance, beginning of period	2,756	2,793	2,668	2,650	2,650
Provision for (recapture of) loan credit losses	18	170	106	329
Loans charged-off	0	0	0	0	0
Recoveries collected	0	0	0	0
Balance, end of period	2,774	2,963	2,774	2,963	2,668
Residential real estate closed-end | Cumulative Effect, Period of Adoption, Adjustment
Allowance for credit losses:
Balance, beginning of period				(16)	(16)
Other consumer loans
Allowance for credit losses:
Balance, beginning of period	278	225	229	354	354
Provision for (recapture of) loan credit losses	(32)	(19)	17	(15)
Loans charged-off	0	0	0	0	0
Recoveries collected	0	0	0	0
Balance, end of period	$ 246	$ 206	$ 246	206	229
Other consumer loans | Cumulative Effect, Period of Adoption, Adjustment
Allowance for credit losses:
Balance, beginning of period				$ (133)	$ (133)

Loans and Allowance for Loan _6

Loans and Allowance for Loan Credit Losses - Schedule of Amortized Costs by Segment of Loans and Credit Risk Profile of Loan Portfolio (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Total	$ 300,032		$ 300,032		$ 304,144
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Gross charge-offs, Loans	0	$ 0	0	$ 0
Commercial real estate
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		849
Year before current fiscal year	1,338		1,338		5,521
Two years before current fiscal year	5,458		5,458		9,327
Three years before current year	8,950		8,950		3,713
Four years before current fiscal year	3,500		3,500		8,015
Prior	28,451		28,451		23,818
Revolving Loans	0		0		0
Revolving to Term Loans	3,690		3,690		8,895
Total	51,387		51,387		60,138
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Gross charge-offs, current fiscal year			0		0
Gross charge-offs, year before current fiscal year			0		0
Gross charge-offs, year before current fiscal year			0		0
Gross charge-offs, three years before current year			0		0
Gross charge-offs, four years before current fiscal year			0		0
Gross charge-offs, prior			0		0
Gross charge-offs, Revolving Loans			0		0
Gross charge-offs, Revolving to Term Loans			0		0
Gross charge-offs, Loans	0	0	0	0	0
Commercial real estate | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		849
Year before current fiscal year	1,338		1,338		5,521
Two years before current fiscal year	5,458		5,458		9,327
Three years before current year	8,950		8,950		3,713
Four years before current fiscal year	3,500		3,500		8,015
Prior	26,581		26,581		21,875
Revolving Loans	0		0		0
Revolving to Term Loans	3,690		3,690		8,895
Total	49,517		49,517		58,195
Commercial real estate | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	1,526		1,526		1,570
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	1,526		1,526		1,570
Commercial real estate | Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	344		344		373
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	344		344		373
Commercial real estate | Doubtful
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	0		0		0
Commercial real estate | Loss
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	0		0		0
Commercial
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	424		424		0
Year before current fiscal year	0		0		573
Two years before current fiscal year	557		557		14
Three years before current year	11		11		42
Four years before current fiscal year	3		3		1,352
Prior	1,389		1,389		309
Revolving Loans	8,760		8,760		10,148
Revolving to Term Loans	0		0		0
Total	11,144		11,144		12,438
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Gross charge-offs, current fiscal year			0		0
Gross charge-offs, year before current fiscal year			0		0
Gross charge-offs, year before current fiscal year			0		0
Gross charge-offs, three years before current year			0		0
Gross charge-offs, four years before current fiscal year			0		0
Gross charge-offs, prior			0		0
Gross charge-offs, Revolving Loans			0		0
Gross charge-offs, Revolving to Term Loans			0		0
Gross charge-offs, Loans	0	0	0	0	0
Commercial | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	424		424		0
Year before current fiscal year	0		0		573
Two years before current fiscal year	557		557		14
Three years before current year	11		11		42
Four years before current fiscal year	3		3		1,352
Prior	1,389		1,389		309
Revolving Loans	8,760		8,760		10,148
Revolving to Term Loans	0		0		0
Total	11,144		11,144		12,438
Commercial | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	0		0		0
Commercial | Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	0		0		0
Commercial | Doubtful
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	0		0		0
Commercial | Loss
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	0		0		0
Residential real estate closed-end
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	18,574		18,574		20,230
Year before current fiscal year	17,911		17,911		45,920
Two years before current fiscal year	47,541		47,541		45,528
Three years before current year	43,650		43,650		25,150
Four years before current fiscal year	23,600		23,600		18,035
Prior	66,853		66,853		55,495
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	218,129		218,129		210,358
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Gross charge-offs, current fiscal year			0		0
Gross charge-offs, year before current fiscal year			0		0
Gross charge-offs, year before current fiscal year			0		0
Gross charge-offs, three years before current year			0		0
Gross charge-offs, four years before current fiscal year			0		0
Gross charge-offs, prior			0		0
Gross charge-offs, Revolving Loans			0		0
Gross charge-offs, Revolving to Term Loans			0		0
Gross charge-offs, Loans	0	0	0	0	0
Residential real estate closed-end | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	18,574		18,574		20,230
Year before current fiscal year	17,911		17,911		45,920
Two years before current fiscal year	47,541		47,541		45,528
Three years before current year	43,650		43,650		25,150
Four years before current fiscal year	23,600		23,600		18,035
Prior	66,616		66,616		55,253
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	217,892		217,892		210,116
Residential real estate closed-end | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	0		0		0
Residential real estate closed-end | Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	237		237		242
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	237		237		242
Residential real estate closed-end | Doubtful
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	0		0		0
Residential real estate closed-end | Loss
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	0		0		0
Other consumer loans
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		32
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	17,869		17,869		17,703
Revolving to Term Loans	1,503		1,503		3,475
Total	19,372		19,372		21,210
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Gross charge-offs, current fiscal year			0		0
Gross charge-offs, year before current fiscal year			0		0
Gross charge-offs, year before current fiscal year			0		0
Gross charge-offs, three years before current year			0		0
Gross charge-offs, four years before current fiscal year			0		0
Gross charge-offs, prior			0		0
Gross charge-offs, Revolving Loans			0		0
Gross charge-offs, Revolving to Term Loans			0		0
Gross charge-offs, Loans	0	$ 0	0	$ 0	0
Other consumer loans | Pass
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		32
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	17,869		17,869		17,703
Revolving to Term Loans	1,503		1,503		3,475
Total	19,372		19,372		21,210
Other consumer loans | Special Mention
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	0		0		0
Other consumer loans | Substandard
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	0		0		0
Other consumer loans | Doubtful
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	0		0		0
Other consumer loans | Loss
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, by Origination Year [Abstract]
Current fiscal year	0		0		0
Year before current fiscal year	0		0		0
Two years before current fiscal year	0		0		0
Three years before current year	0		0		0
Four years before current fiscal year	0		0		0
Prior	0		0		0
Revolving Loans	0		0		0
Revolving to Term Loans	0		0		0
Total	$ 0		$ 0		$ 0

Deposits (Details)

Deposits (Details) $ in Thousands	Nov. 12, 2024 USD ($)	Sep. 30, 2024 USD ($) client	Dec. 31, 2023 USD ($)
Effects of Reinsurance [Line Items]
Interest-bearing domestic deposit, brokered		$ 0	$ 0
Deposits liabilities, reciprocal		0	177,300
Deposit liabilities, one way sell		432,300	130,100
Deposits		1,433,868	1,112,025	[1]
Deposit liability, uninsured		$ 1,200,000	$ 648,000
Percentage of deposits that are uninsured		81.40%	58.30%
Clients with an individual deposit exceeding 5% | client		2
Deposit balance, total value of client deposits exceeding five percent of total deposits		$ 226,600
Deposit balance, total value of client deposits exceeding five percent of total deposits, percentage		15.80%
Subsequent Event
Effects of Reinsurance [Line Items]
Deposit liabilities, one way sell	$ 85,400
Deposits	1,200,000
Subsequent Event | Minimum
Effects of Reinsurance [Line Items]
Deposit liabilities, one way sell	85,400
Deposits	1,100,000
Subsequent Event | Maximum
Effects of Reinsurance [Line Items]
Deposit liabilities, one way sell	462,500
Deposits	$ 1,400,000
[1]Derived from audited financial statements.

Borrowings (Details)

Borrowings (Details) - USD ($) $ in Thousands	Dec. 06, 2023	Sep. 30, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Unsecured line of credit		$ 10,000	$ 5,000	[1]
Federal funds purchased		0	0
Unsecured Debt | Line of Credit
Short-Term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		$ 10,000	$ 10,000
Line of credit facility, interest rate at period end		7.85%	7.95%
Unused commitment fee percentage	1%
Federal Funds Purchased | Line of Credit | Community Bankers’ Bank
Short-Term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		$ 8,000
Federal Funds Purchased | Line of Credit | First National Bankers’ Bank
Short-Term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		10,000
Federal Funds Purchased | Line of Credit | Pacific Coast Bankers’ Bank
Short-Term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		$ 50,000
[1]Derived from audited financial statements.

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	$ 294,754	$ 258,114	[1]
Equity securities, at fair value	527	505	[1]
U.S. government and federal agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	129,725	92,297
Mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	8,229	8,649
Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	52,595	55,472
State and municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	104,205	101,696
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	294,754	258,114
Equity securities, at fair value	527	505
Total	295,281	258,619
Fair Value, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	126,265	79,292
Equity securities, at fair value	527	505
Total	126,792	79,797
Fair Value, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	168,489	178,822
Equity securities, at fair value	0	0
Total	168,489	178,822
Fair Value, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	0	0
Equity securities, at fair value	0	0
Total	0	0
Fair Value, Recurring | U.S. government and federal agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	129,725	92,297
Fair Value, Recurring | U.S. government and federal agencies | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	125,773	78,817
Fair Value, Recurring | U.S. government and federal agencies | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	3,952	13,480
Fair Value, Recurring | U.S. government and federal agencies | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	0	0
Fair Value, Recurring | Mortgage backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	8,229	8,649
Fair Value, Recurring | Mortgage backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	0	0
Fair Value, Recurring | Mortgage backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	8,229	8,649
Fair Value, Recurring | Mortgage backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	0	0
Fair Value, Recurring | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	52,595	55,472
Fair Value, Recurring | Corporate Bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	492	475
Fair Value, Recurring | Corporate Bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	52,103	54,997
Fair Value, Recurring | Corporate Bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	0	0
Fair Value, Recurring | State and municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	104,205	101,696
Fair Value, Recurring | State and municipal securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	0	0
Fair Value, Recurring | State and municipal securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	104,205	101,696
Fair Value, Recurring | State and municipal securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities:	$ 0	$ 0
[1]Derived from audited financial statements.

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 0	$ 0
Loans Held For Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value adjustment	$ 0	$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financial assets:
Securities available for sale, at fair value	$ 294,754	$ 258,114	[1]
Securities held to maturity, net	285,780	283,916
Equity securities	527	505	[1]
Carrying Amount
Financial assets:
Cash and due from banks	639,767	316,767
Securities available for sale, at fair value	294,754	258,114
Securities held to maturity, net	302,348	308,058
Equity securities	527	505
Restricted securities	2,886	2,613
Loans, net	295,826	299,825
Accrued interest receivable	5,360	4,354
Financial liabilities:
Demand and savings deposits	1,421,999	1,095,283
Time deposits	11,869	16,742
Short-term borrowings	10,000	5,000
Accrued interest payable	25	61
Total Fair Value
Financial assets:
Cash and due from banks	639,767	316,767
Securities available for sale, at fair value	294,754	258,114
Securities held to maturity, net	285,780	283,916
Equity securities	527	505
Restricted securities	2,886	2,613
Loans, net	286,987	280,352
Accrued interest receivable	5,360	4,354
Financial liabilities:
Demand and savings deposits	1,412,910	1,066,698
Time deposits	11,829	16,600
Short-term borrowings	10,000	5,000
Accrued interest payable	25	61
Total Fair Value | Level 1
Financial assets:
Cash and due from banks	639,767	316,767
Securities available for sale, at fair value	126,265	79,292
Securities held to maturity, net	109,514	106,837
Equity securities	527	505
Restricted securities	0	0
Loans, net	0	0
Accrued interest receivable	0	0
Financial liabilities:
Demand and savings deposits	0	0
Time deposits	0	0
Short-term borrowings	0	0
Accrued interest payable	0	0
Total Fair Value | Level 2
Financial assets:
Cash and due from banks	0	0
Securities available for sale, at fair value	168,489	178,822
Securities held to maturity, net	176,266	177,079
Equity securities	0	0
Restricted securities	2,886	2,613
Loans, net	0	0
Accrued interest receivable	5,360	4,354
Financial liabilities:
Demand and savings deposits	1,249,724	766,933
Time deposits	0	0
Short-term borrowings	10,000	5,000
Accrued interest payable	25	61
Total Fair Value | Level 3
Financial assets:
Cash and due from banks	0	0
Securities available for sale, at fair value	0	0
Securities held to maturity, net	0	0
Equity securities	0	0
Restricted securities	0	0
Loans, net	286,987	280,352
Accrued interest receivable	0	0
Financial liabilities:
Demand and savings deposits	163,186	299,765
Time deposits	11,829	16,600
Short-term borrowings	0	0
Accrued interest payable	$ 0	$ 0
[1]Derived from audited financial statements.

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024		Sep. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 83,437	[1]	$ 68,783
Unrealized holding gains, net of tax	3,507
Amortization of unrealized holding losses, net of tax	627
Reclassification adjustment, net of tax	51		246
Ending Balance	104,843		75,153
Unrealized holding gains, tax			74
Amortization of unrealized holding losses, tax			174
Reclassifications, tax	14		66
Unrealized Gain (Loss) on Available for Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(7,931)		(13,135)
Unrealized holding gains, net of tax	3,507		280
Amortization of unrealized holding losses, net of tax	0
Reclassification adjustment, net of tax	0		246
Ending Balance	(4,424)		(12,609)
Unrealized Gain (Loss) on Securities Transferred from Available for Sale to Held to Maturity
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(3,634)		(4,513)
Unrealized holding gains, net of tax	0		656
Amortization of unrealized holding losses, net of tax	627
Reclassification adjustment, net of tax	51		0
Ending Balance	(2,956)		(3,857)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(11,565)		(17,648)
Ending Balance	(7,380)		$ (16,466)
Unrealized holding gains, tax	932
Amortization of unrealized holding losses, tax	$ 166
[1]Derived from audited financial statements.

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net income	$ 7,487	$ 5,805	$ 3,917	$ 2,843	$ 1,626	$ 1,048	$ 17,209	$ 5,517
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gain (Loss) on Available for Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net income							$ (51)	$ (246)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss - Reclassification out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Loss on sale of securities	$ (65)			$ (30)			$ (65)	$ (312)
Related income tax benefit	(1,925)			(676)			(4,393)	(1,237)
Net income	$ 7,487	$ 5,805	$ 3,917	$ 2,843	$ 1,626	$ 1,048	17,209	5,517
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Gain (Loss) on Available for Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Loss on sale of securities							(65)	(312)
Related income tax benefit							14	66
Net income							$ (51)	$ (246)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	Nov. 01, 2024	Oct. 07, 2024	Oct. 03, 2024	Sep. 30, 2024	Dec. 31, 2023
Old Common Stock | Unadjusted
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)				26,876
Common stock, shares issued (in shares)				26,876
Old Common Stock | Subsequent Event
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)			0
Common stock, shares issued (in shares)			0
Old Common Stock | Subsequent Event | Unadjusted
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)			26,876
Class B Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)				4,568,920	4,568,240
Common stock, shares issued (in shares)				4,568,920	4,568,240
Class B Common Stock | Unadjusted
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)				0
Common stock, shares issued (in shares)				0
Class B Common Stock | Subsequent Event
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)			4,568,920
Common stock, shares issued (in shares)			4,568,920
Class A Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)				0	0
Common stock, shares issued (in shares)				0	0
Class A Common Stock | Unadjusted
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)				0
Common stock, shares issued (in shares)				0
Class A Common Stock | Subsequent Event
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares outstanding (in shares)			0
Common stock, shares issued (in shares)			0
Sale of stock	142,897	1,850,000

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted Two Class Method (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended						9 Months Ended
		Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income		$ 7,487	$ 5,805	$ 3,917	$ 2,843	$ 1,626	$ 1,048	$ 17,209	$ 5,517
Undistributed net income for basic earnings per share		7,487			2,843			17,209	5,517
Undistributed net income for diluted earnings per share		$ 7,487			$ 2,843			$ 17,209	$ 5,517
Weighted average shares outstanding, basic (in shares)		4,568,920			4,568,240			4,568,920	4,568,240
Weighted average shares outstanding dilutive (in shares)		4,568,920			4,568,240			4,568,920	4,568,240
Earnings per common share, basic (in dollars per share)	[1]	$ 1.64			$ 0.62			$ 3.77	$ 1.21
Earnings per common share, diluted (in dollars per share)	[1]	$ 1.64			$ 0.62			$ 3.77	$ 1.21
Class A Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividends declared on common stock		$ 0			$ 0			$ 0	$ 0
Weighted average shares outstanding, basic (in shares)		0			0			0	0
Weighted average shares outstanding dilutive (in shares)		0			0			0	0
Per share dividends distributed basic (in dollars per share)		$ 0			$ 0			$ 0	$ 0
Per share dividends distributed diluted (in dollars per share)		0			0			0	0
Undistributed earnings per share basic (in dollars per share)		0			0			0	0
Undistributed earnings per share diluted (in dollars per share)		0			0			0	0
Earnings per common share, basic (in dollars per share)		0			0			0	0
Earnings per common share, diluted (in dollars per share)		$ 0			$ 0			$ 0	$ 0
Class B Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividends declared on common stock		$ 0			$ 0			$ 0	$ 0
Weighted average shares outstanding, basic (in shares)		4,568,920			4,568,240			4,568,920	4,568,240
Weighted average shares outstanding dilutive (in shares)		4,568,920			4,568,240			4,568,920	4,568,240
Per share dividends distributed basic (in dollars per share)		$ 0			$ 0			$ 0	$ 0
Per share dividends distributed diluted (in dollars per share)		0			0			0	0
Undistributed earnings per share basic (in dollars per share)		1.64			0.62			3.77	1.21
Undistributed earnings per share diluted (in dollars per share)		1.64			0.62			3.77	1.21
Earnings per common share, basic (in dollars per share)		1.64			0.62			3.77	1.21
Earnings per common share, diluted (in dollars per share)		$ 1.64			$ 0.62			$ 3.77	$ 1.21
[1]Share information for all periods presented gives effect to the Reclassification. All earnings are attributed to Class B shares because no Class A shares were outstanding during the periods presented. The number of basic and diluted shares are the same because there are no potentially dilutive instruments. See Note 2—Capital Structure and Note 9—Earnings Per Share in the Notes to Unaudited Consolidated Financial Statements contained within this Form 10-Q.