John Marshall Bancorp (JMSB) 10-K 23 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Mar. 20, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Entity File Number	001-41315
Entity Registrant Name	John Marshall Bancorp, Inc.
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	81-5424879
Entity Address, Address Line One	1943 Isaac Newton Square
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Reston
Entity Address State Or Province	VA
Entity Address, Postal Zip Code	20190
City Area Code	703
Local Phone Number	584-0840
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	JMSB
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
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 Public Float			$ 265.4
Entity Common Stock, Shares Outstanding		14,121,078
Entity Central Index Key	0001710482
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Yount, Hyde & Barbour, P.C.
Auditor Location	Winchester, Virginia
Auditor Firm ID	613

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 6,583	$ 2,920
Interest-bearing deposits in banks	55,016	102,879
Total cash and cash equivalents	61,599	105,799
Securities available-for-sale, at fair value	357,576	239,300
Securities held-to-maturity, fair value of $81,161 and $103,258 as of December 31, 2022 and December 31, 2021, respectively	99,415	105,509
Restricted securities, at cost	4,425	4,951
Equity securities, at fair value	2,115	1,869
Loans, net of unearned income	1,789,508	1,666,469
Allowance for loan losses	(20,208)	(20,032)
Net loans	1,769,300	1,646,437
Bank premises and equipment, net	1,219	1,620
Accrued interest receivable	5,531	4,943
Bank owned life insurance	21,170	20,998
Right of use assets	4,611	4,913
Other assets	21,274	12,970
Total assets	2,348,235	2,149,309
Deposits:
Non-interest bearing demand deposits	476,697	488,838
Interest-bearing demand deposits	691,945	633,901
Savings deposits	95,241	101,376
Time deposits	803,857	657,438
Total deposits	2,067,740	1,881,553
Federal funds purchased	25,500
Federal Home Loan Bank advances		18,000
Subordinated debt	24,624	24,728
Accrued interest payable	1,035	843
Lease liabilities	4,858	5,182
Other liabilities	11,678	10,533
Total liabilities	2,135,435	1,940,839
Commitments and contingencies
Shareholders' Equity
Preferred stock, par value $0.01 per share; authorized 1,000,000 shares; none issued
Additional paid-in capital	94,726	91,107
Retained earnings	146,630	117,626
Accumulated other comprehensive loss	(28,697)	(400)
Total shareholders' equity	212,800	208,470
Total liabilities and shareholders' equity	2,348,235	2,149,309
Common stock, voting
Shareholders' Equity
Common stock	141	137
Common stock, non voting
Shareholders' Equity
Common stock

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Securities held-to-maturity, fair value	$ 81,161	$ 103,258
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	0	0
Common stock, voting
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	30,000,000	30,000,000
Common stock, issued (in shares)	14,098,986	13,745,598
Common stock, outstanding (in shares)	14,098,986	13,745,598
Common stock, voting | Unvested shares
Common stock, issued (in shares)	55,185	75,826
Common stock, non voting
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000	1,000,000
Common stock, issued (in shares)	0	0

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Interest and Dividend Income
Interest and fees on loans	$ 74,281	$ 69,415
Interest on investment securities, taxable	7,934	4,146
Interest on investment securities, tax-exempt	120	120
Dividends	249	263
Interest on deposits in banks	1,482	175
Total interest and dividend income	84,066	74,119
Interest Expense
Deposits	11,778	6,599
Federal funds purchased	15
Federal Home Loan Bank advances	42	125
Subordinated debt	1,810	1,487
Total interest expense	13,645	8,211
Net interest income	70,421	65,908
Provision for loan losses	175	3,105
Net interest income after provision for loan losses	70,246	62,803
Non-interest Income
Service charges on deposit accounts	324	262
Bank owned life insurance	544	411
Other service charges and fees	656	477
Gains on securities		10
Insurance commissions	382	284
Other operating income (loss)	(215)	275
Total non-interest income	1,691	1,719
Non-interest Expenses
Salaries and employee benefits	20,190	20,411
Occupancy expense of premises	1,893	1,985
Furniture and equipment expenses	1,325	1,436
Other operating expenses	8,466	8,430
Total non-interest expenses	31,874	32,262
Income before income taxes	40,063	32,260
Income tax expense	8,260	6,799
Net income	$ 31,803	$ 25,461
Earnings per share, basic	$ 2.27	$ 1.87
Earnings per share, diluted	$ 2.25	$ 1.83

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Consolidated Statements of Comprehensive Income
Net Income	$ 31,803	$ 25,461
Other comprehensive loss:
Unrealized loss on available-for-sale securities, net of tax of $(7,484) and $(1,089) for 2022 and 2021, respectively	(28,153)	(4,098)
Reclassification adjustment for gains on available-for-sale securities included in net income, net of tax of $(2) for 2021		(8)
Amortization of unrealized gains on securities transferred to held-to-maturity, net of tax of $(38) and $(21) for 2022 and 2021, respectively	(144)	(80)
Total other comprehensive loss	(28,297)	(4,186)
Total comprehensive income	$ 3,506	$ 21,275

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Consolidated Statements of Comprehensive Income
Unrealized gain (loss) on available-for-sale securities, tax	$ (7,484)	$ (1,089)
Reclassification adjustment for gains on available-for-sale securities included in net income, tax		(2)
Unrealized gains on securities transferred to held-to-maturity, tax	$ (38)	$ (21)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Beginning balance at Dec. 31, 2020	$ 135	$ 89,995	$ 92,165	$ 3,786	$ 186,081
Beginning balance (in shares) at Dec. 31, 2020	13,532,558
Net Income			25,461		25,461
Other comprehensive loss				(4,186)	(4,186)
Exercise of stock options, net of shares surrendered	$ 1	554			555
Exercise of stock options, net of shares surrendered (in shares)	100,757
Restricted stock vesting	$ 1	(2)			(1)
Restricted stock vesting (in shares)	36,457
Share-based compensation		560			560
Ending balance at Dec. 31, 2021	$ 137	91,107	117,626	(400)	208,470
Ending balance (in shares) at Dec. 31, 2021	13,669,772
Net Income			31,803		31,803
Other comprehensive loss				(28,297)	(28,297)
Dividend declared on common stock ($0.20 per share)			(2,799)		(2,799)
Exercise of stock options	$ 4	3,054			$ 3,058
Exercise of stock options (in shares)	331,719				340,649
Restricted stock vesting		(8)			$ (8)
Restricted stock vesting (in shares)	42,310
Share-based compensation		573			573
Ending balance at Dec. 31, 2022	$ 141	$ 94,726	$ 146,630	$ (28,697)	$ 212,800
Ending balance (in shares) at Dec. 31, 2022	14,043,801

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Consolidated Statements of Shareholders' Equity
Dividend paid per share	$ 0.20
Exercise of stock options, shares surrendered	8,930	22,809
Restricted stock vesting, shares surrendered	251	3,715

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities
Net income	$ 31,803	$ 25,461
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation	557	814
Right of use asset amortization	1,360	1,416
Provision for loan losses	175	3,105
Share-based compensation expense	573	560
Net amortization of securities	(25)	488
Fair value adjustment on equity securities	354	(194)
Amortization of debt issuance costs	317	49
Net gains on premises and equipment		(29)
Gains on sales and calls of available-for-sale securities		(10)
Deferred tax expense (benefit)	594	(678)
Bank owned life insurance income	(544)	(411)
Changes in assets and liabilities:
(Increase) decrease in accrued interest receivable	(588)	365
(Increase) decrease in other assets	(1,376)	861
Increase (decrease) in accrued interest payable	192	(34)
(Decrease) Increase in other liabilities	(237)	591
Net cash provided by operating activities	33,155	32,354
Cash Flows from Investing Activities
Net increase in loans	(123,038)	(104,035)
Purchase of available-for-sale securities	(206,890)	(231,353)
Purchase of held-to-maturity securities	(1,003)	(11,025)
Proceeds from maturities, calls and principal repayments of available-for-sale securities	53,077	39,315
Proceeds from maturities, calls and principal repayments of held-to-maturity securities	6,841	4,378
Net redemption of restricted securities	526	725
Net purchases of equity securities	(600)	(708)
Life insurance proceeds	371
Insurance casualty proceeds		22
Proceeds from sale of premises and equipment		35
Purchases of bank premises and equipment	(156)	(353)
Net cash (used in) investing activities	(270,872)	(302,999)
Cash Flows from Financing Activities
Net increase in deposits	186,187	241,433
Net repayment of Federal Home Loan Bank advances	(18,000)	(4,000)
Increase in federal funds purchased	25,500
Issuance of subordinated debt	24,579
Repayment of subordinated debt	(25,000)
Cash dividends paid	(2,799)
Issuance of common stock for share options exercised	3,058	716
Repurchase of shares for tax withholding on share-based compensation	(8)	(162)
Net cash provided by financing activities	193,517	237,987
Net decrease in cash and cash equivalents	(44,200)	(32,658)
Cash and cash equivalents, beginning of period	105,799	138,457
Cash and cash equivalents, end of period	61,599	105,799
Supplemental Disclosures of Cash Flow Information
Interest	13,136	8,196
Income taxes	6,583	6,829
Supplemental Disclosures of Noncash Transactions
Unrealized loss on securities available-for-sale	(35,637)	(5,197)
Right of use asset obtained in exchange for new operating lease liability	$ 1,058	$ 385

Nature of Business and Summary

Nature of Business and Summary of Significant Accounting Policy	12 Months Ended
	Dec. 31, 2022
Nature of Business and Summary of Significant Accounting Policy
Nature of Business and Summary of Significant Accounting Policy	Note 1— Nature of Business and Summary of Significant Accounting Policy Nature of Banking Activities John Marshall Bancorp, Inc. (the “Company”), headquartered in Reston, Virginia, became the registered bank holding company under the Bank Holding Company Act of 1956 for its wholly-owned subsidiary, John Marshall Bank (the “Bank”), on March 1, 2017. This reorganization was completed through a one-for-one share exchange in which the Bank’s shareholders received one share of voting common stock of the Company in exchange for each share of the Bank’s voting common stock. The Company was formed on April 21, 2016 under the laws of the Commonwealth Virginia. The Bank formed on April 5, 2005 under the laws of the Commonwealth of Virginia and was chartered as a bank on February 9, 2006, by the Virginia Bureau of Financial Institutions. The Bank is a member of the Federal Reserve System and is subject to the rules and regulations of the Virginia Bureau of Financial Institutions, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) and the Federal Deposit Insurance Corporation (“FDIC”). The Bank opened for business on April 17, 2006 and provides banking services to its customers primarily in the Washington, D.C. metropolitan area. The accounting and reporting policies of John Marshall Bancorp, Inc. conform to generally accepted accounting principles in the United States of America and reflect practices of the banking industry. The significant accounting policies are summarized below. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany accounts and transactions between the Company and the Bank have been eliminated. Restriction on Dividends The Bank is subject to certain restrictions on the amount of dividends that it may pay to the Company without prior regulatory approval. At December 31, 2022, the Bank had $77.5 million available to distribute in the form of dividends to the Company. Significant Accounting Policies Use of Estimates In preparing financial statements in conformity with accounting principles generally accepted in the United States of America (“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. 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 loan losses. Reclassifications Certain items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’ equity. Concentration of Credit Risk Most of the Company’s activities are with customers located in the Washington, D.C. metropolitan area. Real estate loans, including commercial, construction and land development, and residential loans, represented 97% of the total loan portfolio at December 31, 2022 and 93% of the total loan portfolio at December 31, 2021. The Company does not have any significant concentrations to any one industry or customer. Cash and Cash Equivalents For the purposes of the statements of cash flows, cash and cash equivalents include cash and balances due from banks and interest-bearing deposits in banks (items with an original maturity of three months or less). Securities Certain debt securities that management has the positive intent and ability to hold-to-maturity are classified as “held-to-maturity” and recorded at amortized cost. Debt securities not classified as held-to-maturity or trading, are classified as “available-for-sale” and recorded at fair value, with unrealized gains and losses excluded from earnings and reported net of deferred tax in accumulated other comprehensive income (loss) within shareholders’ equity. Purchase premiums and discounts on debt securities are recognized in interest income using the interest method over the terms of the securities. Transfers of debt securities into the held-to-maturity classification from the available-for-sale classification are made at fair value on the date of transfer. The unrealized holding gain or loss on the date of the transfer is reported in accumulated other comprehensive income (loss) and in the carrying value of the held-to-maturity securities. Such amounts are amortized over the remaining contractual lives of the securities. Impairment of securities occurs when the fair value of a security is less than its amortized cost. For debt securities, impairment is considered other-than-temporary and recognized in its entirety in net income if either (a) the intent is to sell the security or (b) it is more likely than not that it will be necessary to sell the security prior to recovery of its amortized cost basis. If, however, the Company’s intent is not to sell the security and it is not more than likely that the Company will be required to sell the security before recovery, the Company must determine what portion of the impairment is attributable to a credit loss, which occurs when the amortized cost of the security exceeds the present value of the cash flows expected to be collected from the security. If there is no credit loss, there is no other-than-temporary impairment. If there is a credit loss, other-than-temporary impairment exists and the credit loss must be recognized in net income and the remaining portion of impairment must be recognized in other comprehensive income. The Company regularly reviews each debt security for other-than-temporary impairment based on criteria that include the extent to which cost exceeds market price, the duration of that market decline, the financial health of and specific prospects for the issuer, the security’s ratings, the Company’s best estimate of the present value of cash flows expected to be collected from debt securities, the intention with regards to holding the security to maturity and the likelihood that the Company would be required to sell the security before recovery. Equity securities with readily determinable fair values are carried at fair value, with changes in fair value reported in net income. Any equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments. Restricted equity securities are carried at cost and are periodically evaluated for impairment based on the ultimate recovery of par value. The entirety of any impairment on the equity securities is recognized in earnings. Gains and losses on sales of securities are recorded on the trade date and determined using the specific identification method. Loans The Company grants real estate, commercial and consumer loans to customers (representing the Company’s loan segments). A substantial portion of the loan portfolio is represented by commercial real estate loans in the Washington, D.C. metropolitan area. Within the real estate segment, the Company has also identified the residential, commercial and construction classes. The ability of the Company’s debtors to honor their real estate loan contracts is dependent upon the real estate market and general economic conditions in this area, among other factors. Underwriting and risk characteristics of each loan class are summarized as follows: ● Real estate residential mortgage loans carry risks associated with the continued creditworthiness of the borrower and changes in the value of the collateral. ● Real estate commercial mortgage loans carry risks associated with the successful operation of a business, the continued creditworthiness of the borrower and any related guarantors and changes in the value of the collateral. In the case of investor-owned commercial real estate, risks are expanded to include the financial strength of the tenants occupying the property and the stability of occupancy and lease rates. ● Real estate construction and land development loans carry risks that the project will not be finished according to schedule, the project will not be finished according to budget and the value of the collateral may, at any point in time, be less than the principal amount of the loan. Construction loans also bear the risk that the general contractor, who may or may not be a customer of the Company, may be unable to finish the construction project as planned because of financial pressure unrelated to the project. ● Commercial loans carry risks associated with the successful operation of a business and the financial strength of any related guarantors. In addition, there is risk associated with the value of collateral other than real estate which may depreciate over time and cannot be appraised with as much precision. ● Consumer loans carry the risks associated with the continued creditworthiness of the borrower and the value of any collateral. Consumer loans are more likely than real estate loans to be immediately adversely affected by job loss, divorce, illness or personal bankruptcy. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their outstanding unpaid principal balances adjusted for the allowance for loan losses and any deferred fees or costs on originated loans. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield using the interest method. The accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 90 days past due unless the credit is well secured and in the process of collection. Other personal loans are typically charged off no later than 180 days past due. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal or interest is considered doubtful. The determination of days past due or delinquency status uses the first contractual payment date that has not been paid-in-full by the borrower. All interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged off when management believes the collectability of a loan balance is unlikely, which reduces the allowance. Loans are generally written down to the estimated net realizable value of the underlying collateral when the loan is 180 days past due. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans by segment in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of specific, general and unallocated components. The specific component relates to loans that are classified as impaired. For such loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonimpaired loans and is based on historical loss experience adjusted for qualitative factors. Qualitative factors used for each segment include an analysis of the levels of and trends in delinquencies, nonaccrual loans, and watch list loans; trends in concentrations, volume and term of loans; effects of any changes in lending policies and practices; experience, ability, and depth of management; national and local economic trends and conditions; and any other factor, as deemed appropriate. Our qualitative factors during the periods covered by these financial statements have also included specific considerations of inflation and other economic metrics, as well as the direct and indirect impacts of the pandemic. An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial, construction, and commercial mortgage loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer loans for impairment disclosures unless the loan has been modified in a troubled debt restructuring. Troubled Debt Restructurings (“TDR”) The Company may, for economic or legal reasons related to a borrower’s financial condition, grant a concession to the borrower that it would not otherwise consider, which results in the related loan being classified as a TDR. The Company strives to identify borrowers in financial difficulty early and work with them to modify their loan before their loan reaches nonaccrual status. The modified terms for a TDR may include rate reductions, principal forgiveness, payment forbearance and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. All restructured loans are considered impaired loans and may either be in accruing status or nonaccruing status. Nonaccruing restructured loans may return to accruing status provided doubt has been removed concerning the collectability of principal and interest as evidenced by a sufficient period of payment performance in accordance with the restructured terms. Loans may be removed from the restructured category in the year subsequent to the restructuring if their revised loan terms are considered to be consistent with terms that can be obtained in the credit market for loans with comparable risk and if they meet certain performance criteria. Bank Premises and Equipment Bank premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed on the straight-line method over the useful lives of the assets, ranging from three Bank Owned Life Insurance The Company has purchased life insurance on certain key executives and officers. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or amounts due that are probable at settlement. Changes in cash surrender value are reflected in non-interest income in the Consolidated Statements of Income. Other Real Estate Owned Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Operating costs after acquisition are expensed as incurred. The Company had no other real estate owned as of December 31, 2022 and 2021. At December 31, 2022 and 2021, there were no consumer mortgage loans secured by residential real estate for which formal foreclosure proceedings were in progress. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (a) the assets have been isolated from the Company – put presumptively beyond the reach of the transferor and its creditors, even in the event of bankruptcy or other receivership, (b) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (c) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets. Income Taxes Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences, operating loss carryforwards, and tax credit carryforwards. Deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company recorded no liability for unrecognized tax benefits at December 31, 2022 or 2021. Earnings Per Common Share Earnings per common share is calculated in accordance with Accounting Standard Codification (“ASC”) 260 - Earnings Per Share Under the two-class method, basic earnings per common share is computed by dividing net earnings allocated to common stock by the weighted-average number of common shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per common share is computed using the weighted-average number of shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method. Earnings per share are restated for all stock splits and dividends through the date the financial statements are issued. Advertising Costs The Company follows the policy of charging the production costs of advertising to expense as incurred. Advertising expense was $193 thousand and $395 thousand for the years ended December 31, 2022 and 2021, respectively. Share-Based Compensation The Company recognizes the compensation cost relating to share-based payment transactions based on the grant date fair value of the equity instruments issued. The share compensation accounting guidance requires that compensation cost for all share-based awards be calculated and recognized over the vesting period. A Black-Scholes model is used to estimate the fair value of stock options. Restricted stock awards are valued using the closing stock price on the date of grant. The Company’s accounting policy is to recognized forfeitures as they occur. Comprehensive Income (Loss) Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains (losses) on securities available-for-sale and the amortization of unrealized losses or accretion of unrealized gains on securities transferred from available-for-sale to held-to-maturity, which are also recognized as a separate component of equity. Items reclassified out of accumulated other comprehensive income (loss) to net income relate solely to realized gains (losses) on sales of securities available-for-sale and appear under the caption “Gains on securities” in the Company’s Consolidated Statements of Income. Derivatives The Company enters into interest rate swaps (“swaps”) with commercial loan customers to provide a facility to mitigate the fluctuations in the variable rate on the respective loans. These swaps are matched in exact offsetting terms to swaps that the Company enters into with an outside third party. The swaps are reported at fair value in other assets or other liabilities in the Consolidated Balance Sheets. The Company's swaps qualify as derivatives, but are not designated as hedging instruments. As such, any net gain or loss resulting from changes in the fair value is recognized in other operating (loss) income in the Consolidated Statements of Income. Refer to Note 5 for further discussion regarding the Company’s swaps. Fair Value of Financial Instruments Fair values of various assets and liabilities are estimated using relevant market information, valuation techniques and other assumptions, as more fully disclosed in Note 12. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect the estimates. Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The FASB has issued multiple updates to ASU 2016-13 as codified in Topic 326, including ASUs 2019-04, 2019-05, 2019-10, 2019-11, 2020-02, and 2020-03. These ASUs have provided for various minor technical corrections and improvements to the codification as well as other transition matters. Smaller reporting companies who file with the Securities and Exchange Commission (“SEC”) and all other entities who do not file with the SEC are required to apply the guidance for fiscal years, and interim periods within those years, beginning after December 15, 2022. The Company adopted ASU 2016-13 as of January 1, 2023 in accordance with the required implementation date. At adoption, the after tax impact to retained earnings was an approximate reduction of $(2.3) million based on our evaluation as of that date. This adjustment consisted of increases to the allowance for credit losses on loans, as well as the Company's reserve for unfunded loan commitments. Subsequent to adoption, the Company will record adjustments to its allowance for credit losses and reserves for unfunded commitments through the provision for credit losses in the Consolidated Statements of Income. For regulatory capital purposes, the Company and its subsidiary bank, have elected to utilize the optional three-year transition period for the adverse effects of implementing the standard. The Company is utilizing a discounted cash flow model to tabulate its estimate of current expected credit losses. For the purposes of calculating its quantitative reserves, the Company has segmented its loan portfolio based on loans which share similar risk characteristics. Within the quantitative portion of the calculation, the Company utilizes at least one or a combination of loss drivers, which may include unemployment rates, home price indices, and/or GDP, to adjust its loss rates over a reasonable and supportable forecast period of one year. A straight-line reversion technique is used for the following four quarters, at which time the Company reverts to historical averages. To further adjust the allowance for credit losses for expected losses not already included within the quantitative component of the calculation, the Company may consider several qualitative factors, including but not limited to: variability in the economic forecast, concentration of the loan portfolio, idiosyncratic risks not embedded in the data used in the model, as well as other factors deemed necessary and appropriate to support the estimate of expected credit losses. The Company's CECL implementation process included an assessment of: data availability and gap analysis, benchmarking data, data collection, consideration and analysis of multiple loss estimation methodologies, an assessment of relevant qualitative factors and correlation analysis of multiple potential loss drivers and their impact on the Company's historical loss experience. The Company also used the services of a third party advisor to validate the conceptual soundness of the methodology framework and of the CECL model. In March 2022, the FASB issued ASU 2022-02, “Financial Instruments-Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 addresses areas identified by the FASB as part of its post-implementation review of the credit losses standard (ASU 2016-13) that introduced the CECL model. The amendments eliminate the accounting guidance for TDRs by creditors that have adopted the CECL model and enhance the disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, the amendments require a public business entity to disclose current-period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The amendments in this ASU should be applied prospectively, except for the transition method related to the recognition and measurement of TDRs, where an entity has the option to apply a modified retrospective transition method resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. The Company adopted the guidance prospectively in the first quarter of 2023 and will provide the enhanced modification disclosures as part of the Form 10-Q for the first quarter of 2023. The adoption of the standard is not anticipated to have a material impact on the Company’s financial statements.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2022
Investment Securities
Investment Securities	Note 2— Investment Securities The following table summarizes the amortized cost and fair value of securities held-to-maturity and available-for-sale and the corresponding amounts of gross unrealized gains and losses at December 31, 2022 and December 31, 2021. Table 2.1: Investment Securities Held-to-Maturity and Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (Dollars in thousands) ​ Cost Gains (Losses) Value Held-to-maturity ​ ​ ​ ​ U.S. Treasuries ​ $ 6,000 ​ $ — ​ $ (840) ​ $ 5,160 U.S. government and federal agencies ​ 35,551 ​ — ​ (6,135) ​ 29,416 Collateralized mortgage obligations ​ 21,275 ​ — ​ (4,227) ​ 17,048 Taxable municipal ​ 6,073 ​ — ​ (1,364) ​ 4,709 Mortgage-backed ​ 30,516 ​ — ​ (5,688) ​ 24,828 Total Held-to-maturity Securities ​ $ 99,415 ​ $ — ​ $ (18,254) ​ $ 81,161 Available-for-sale ​ ​ ​ ​ U.S. Treasuries ​ $ 63,480 ​ $ — ​ $ (4,270) ​ $ 59,210 U.S. government and federal agencies ​ 38,748 ​ — ​ (3,988) ​ 34,760 Corporate bonds ​ 3,000 ​ — ​ (386) ​ 2,614 Collateralized mortgage obligations ​ 44,732 ​ — ​ (6,258) ​ 38,474 Tax-exempt municipal ​ 4,993 ​ — ​ (348) ​ 4,645 Taxable municipal ​ 608 ​ — ​ (29) ​ 579 Mortgage-backed ​ 238,652 ​ — ​ (21,358) ​ 217,294 Total Available-for-sale Securities ​ $ 394,213 ​ $ — ​ $ (36,637) ​ $ 357,576 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (Dollars in thousands) ​ Cost Gains (Losses) Value Held-to-maturity ​ ​ ​ ​ U.S. Treasuries ​ $ 6,000 ​ $ — ​ $ (150) ​ $ 5,850 U.S. government and federal agencies ​ 35,720 ​ — ​ (726) ​ 34,994 Collateralized mortgage obligations ​ 25,606 ​ — ​ (534) ​ 25,072 Taxable municipal ​ 6,089 ​ — ​ (194) ​ 5,895 Mortgage-backed ​ 32,094 ​ — ​ (647) ​ 31,447 Total Held-to-maturity Securities ​ $ 105,509 ​ $ — ​ $ (2,251) ​ $ 103,258 Available-for-sale ​ ​ ​ ​ U.S. Treasuries ​ $ 30,954 ​ $ — ​ $ (411) ​ $ 30,543 U.S. government and federal agencies ​ 34,803 ​ 258 ​ (524) ​ 34,537 Corporate bonds ​ 1,000 ​ 31 ​ — ​ 1,031 Collateralized mortgage obligations ​ 39,596 ​ 179 ​ (726) ​ 39,049 Tax-exempt municipal ​ 5,007 ​ 255 ​ — ​ 5,262 Taxable municipal ​ 1,653 ​ 37 ​ (5) ​ 1,685 Mortgage-backed ​ 127,287 ​ 1,232 ​ (1,326) ​ 127,193 Total Available-for-sale Securities ​ $ 240,300 ​ $ 1,992 ​ $ (2,992) ​ $ 239,300 ​ During 2021, the Company transferred investment securities with a carrying value of $99.0 million, including an unrealized gain of $593 thousand from available-for-sale to held-to-maturity and began classifying certain newly purchased debt securities as held-to-maturity, as it has the intent and ability to hold these securities to maturity. The unrealized gain at the time of transfer is being amortized over the remaining lives of the securities. The Company did not sell nor recognize any gain or loss for any debt securities for the year ended December 31, 2022. The Company did not sell any available-for-sale debt securities for the year ended December 31, 2021. A gain of $10 thousand was recognized on the call of a security in 2021. Securities having a market value of $114.4 million and $78.6 million at December 31, 2022 and 2021, respectively, were pledged to secure public deposits and for other purposes required by law. These securities had an amortized cost of $128.7 million and $78.8 million at December 31, 2022 and 2021, respectively. The following table summarizes the fair value of securities held-to-maturity and securities available-for-sale at December 31, 2022 and December 31, 2021 and the corresponding amounts and durations of gross unrealized losses. Management uses the valuations as of month-end in determining when securities are in an unrealized loss position. Therefore, a security’s market value could have exceeded its amortized cost on other days during the prior twelve-month period. Table 2.2: Securities in a Gross Unrealized Loss Position ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Less than 12 Months ​ 12 Months or Longer ​ Total ​ ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) ​ Value ​ Losses ​ Value ​ Losses ​ Value ​ Losses Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasuries ​ $ — ​ $ — ​ $ 5,160 ​ $ (840) ​ $ 5,160 ​ $ (840) U.S. government and federal agencies ​ — ​ — ​ 29,416 ​ (6,135) ​ 29,416 ​ (6,135) Collateralized mortgage obligations ​ — ​ — ​ 17,048 ​ (4,227) ​ 17,048 ​ (4,227) Taxable municipal ​ — ​ — ​ 4,709 ​ (1,364) ​ 4,709 ​ (1,364) Mortgage-backed ​ 825 ​ (159) ​ 24,003 ​ (5,529) ​ 24,828 ​ (5,688) Total Held-to-maturity Securities ​ $ 825 ​ $ (159) ​ $ 80,336 ​ $ (18,095) ​ $ 81,161 ​ $ (18,254) Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasuries ​ $ 31,261 ​ $ (1,194) ​ $ 27,949 ​ $ (3,076) ​ $ 59,210 ​ $ (4,270) U.S. government and federal agencies ​ 16,107 ​ (1,078) ​ 18,653 ​ (2,910) ​ 34,760 ​ (3,988) Corporate bonds ​ 2,614 ​ (386) ​ — ​ — ​ 2,614 ​ (386) Collateralized mortgage obligations ​ 16,746 ​ (1,143) ​ 21,728 ​ (5,115) ​ 38,474 ​ (6,258) Tax-exempt municipal ​ 4,645 ​ (348) ​ — ​ — ​ 4,645 ​ (348) Taxable municipal ​ 337 ​ (2) ​ 242 ​ (27) ​ 579 ​ (29) Mortgage-backed ​ 145,795 ​ (9,612) ​ 71,499 ​ (11,746) ​ 217,294 ​ (21,358) Total Available-for-sale Securities ​ $ 217,505 ​ $ (13,763) ​ $ 140,071 ​ $ (22,874) ​ $ 357,576 ​ $ (36,637) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Less than 12 Months ​ 12 Months or Longer ​ Total ​ ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized (Dollars in thousands) ​ Value Losses Value Losses Value Losses Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasuries ​ $ 5,851 ​ $ (150) ​ $ — ​ $ — ​ $ 5,851 ​ $ (150) U.S. government and federal agencies ​ 31,617 ​ (645) ​ 3,376 ​ (81) ​ 34,993 ​ (726) Collateralized mortgage obligations ​ 25,072 ​ (534) ​ — ​ — ​ 25,072 ​ (534) Taxable municipal ​ 3,971 ​ (133) ​ 1,923 ​ (61) ​ 5,894 ​ (194) Mortgage-backed ​ 27,995 ​ (573) ​ 3,452 ​ (74) ​ 31,447 ​ (647) Total Held-to-maturity Securities ​ $ 94,506 ​ $ (2,035) ​ $ 8,751 ​ $ (216) ​ $ 103,257 ​ $ (2,251) Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasuries ​ $ 30,543 ​ $ (411) ​ $ — ​ $ — ​ $ 30,543 ​ $ (411) U.S. government and federal agencies ​ 14,154 ​ (301) ​ 6,877 ​ (223) ​ 21,031 ​ (524) Collateralized mortgage obligations ​ 30,352 ​ (726) ​ — ​ — ​ 30,352 ​ (726) Taxable municipal ​ 265 ​ (5) ​ — ​ — ​ 265 ​ (5) Mortgage-backed ​ 93,129 ​ (1,280) ​ 918 ​ (46) ​ 94,047 ​ (1,326) Total Available-for-sale Securities ​ $ 168,443 ​ $ (2,723) ​ $ 7,795 ​ $ (269) ​ $ 176,238 ​ $ (2,992) ​ U.S. Treasuries U.S. Government and Federal Agencies Collateralized Mortgage Obligation Securities Municipal Securities Corporate Securities Mortgage-Backed Securities The Company reviews each debt security for other-than-temporary impairment on at least a quarterly basis based on criteria that include the extent to which cost exceeds market price, the duration of that market decline, the financial health of and specific prospects for the issuer, the security’s ratings, the Company’s best estimate of the present value of cash flows expected to be collected from debt securities, the intention with regards to holding the security to maturity and the likelihood that the Company would be required to sell the security before recovery. The Company did not consider those investments to be other-than-temporary impaired at December 31, 2022 or 2021. Additionally, the Company has not recognized any other-than-temporary impairment on any of the investments owned as of December 31, 2022. The table below summarizes, by major security type, the contractual maturities of our investment securities as of December 31, 2022. Issuers may have the right to call or prepay certain obligations and as such, the expected maturities of our securities are likely to differ from the scheduled contractual maturities presented below. Table 2.3: Contractual Maturities of Investment Securities ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Amortized ​ Fair (Dollars in thousands) Cost Value Held-to-maturity ​ ​ Due in one year or less ​ $ — ​ $ — Due after one year through five years ​ 5,208 ​ 4,474 Due after five years through ten years ​ 39,496 ​ 32,806 Due after ten years ​ 54,711 ​ 43,881 Total Held-to-maturity Securities ​ $ 99,415 ​ $ 81,161 Available-for-sale ​ ​ Due in one year or less ​ $ 1,929 ​ $ 1,899 Due after one year through five years ​ 104,037 ​ 96,292 Due after five years through ten years ​ 153,724 ​ 142,314 Due after ten years ​ 134,523 ​ 117,071 Total Available-for-sale Securities ​ $ 394,213 ​ $ 357,576 ​ The table below summarizes the carrying amount of restricted securities as of December 31, 2022 and December 31, 2021. Table 2.4: Carrying Value of Restricted Securities ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Federal Reserve Bank Stock ​ $ 3,292 ​ $ 3,275 Federal Home Loan Bank Stock ​ 1,073 ​ 1,616 Community Bankers’ Bank Stock ​ 60 ​ 60 Total Restricted Securities ​ $ 4,425 ​ $ 4,951 ​ The Company held equity securities with readily determinable fair values totaling $2.1 million and $1.9 million at December 31, 2022 and December 31, 2021, respectively. Changes in the fair value of these securities are reflected in earnings. A loss of $(354) thousand and a gain of $194 thousand was recorded in other operating (loss) income in the Consolidated Statements of Income for the years ended December 31, 2022 and December 31, 2021, respectively. These securities consist of mutual funds held in a trust and were obtained for the purpose of economically hedging changes in the Company’s nonqualified deferred compensation liability.

Loans

Loans	12 Months Ended
	Dec. 31, 2022
Allowance for Loan Losses
Loans	Note 3— Loans The following table presents the composition of the Company’s loan portfolio as of December 31, 2022 and December 31, 2021. Table 3.1: Loan Portfolio Composition ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Real Estate Loans: ​ ​ ​ ​ Commercial ​ $ 1,118,127 ​ $ 968,442 Construction and land development ​ 195,027 ​ 231,090 Residential ​ ​ 426,841 ​ ​ 342,491 Commercial - Non-Real Estate: ​ ​ Commercial loans ​ 44,924 ​ 122,945 Consumer - Non-Real Estate: ​ ​ Consumer loans ​ 529 ​ 586 Total Gross Loans ​ $ 1,785,448 ​ $ 1,665,554 Allowance for loan losses ​ (20,208) ​ (20,032) Net deferred loan costs ​ 4,060 ​ 915 Total Net Loans ​ $ 1,769,300 ​ $ 1,646,437 ​

Allowance for Loan Losses

Allowance for Loan Losses	12 Months Ended
	Dec. 31, 2022
Allowance for Loan Losses
Allowance for Loan Losses	Note 4— Allowance for Loan Losses The following tables present the activity in the allowance for loan losses for the years ended December 31, 2022 and December 31, 2021. Table 4.1: Allowance for Loan Losses Activity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ Commercial ​ Development ​ Residential ​ Commercial ​ Consumer ​ Unallocated ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Beginning Balance, December 31, 2021 ​ $ 13,091 ​ $ 2,824 ​ $ 2,769 ​ $ 711 ​ $ 5 ​ $ 632 ​ $ 20,032 Charge-offs ​ (1) ​ — ​ — ​ — ​ — ​ — ​ ​ (1) Recoveries ​ — ​ — ​ — ​ 2 ​ — ​ — ​ 2 Provision ​ 115 ​ 36 ​ 275 ​ (257) ​ — ​ 6 ​ 175 Ending Balance, December 31, 2022 ​ $ 13,205 ​ $ 2,860 ​ $ 3,044 ​ $ 456 ​ $ 5 ​ $ 638 ​ $ 20,208 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ Commercial ​ Development ​ Residential ​ Commercial ​ Consumer ​ Unallocated ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Beginning Balance, December 31, 2020 ​ $ 10,602 ​ $ 2,617 ​ $ 2,430 ​ $ 1,007 ​ $ 11 ​ $ 350 ​ $ 17,017 Charge-offs ​ (90) ​ — ​ — ​ (1) ​ — ​ — ​ ​ (91) Recoveries ​ — ​ — ​ — ​ 1 ​ — ​ — ​ 1 Provision ​ 2,579 ​ 207 ​ 339 ​ (296) ​ (6) ​ 282 ​ 3,105 Ending Balance, December 31, 2021 ​ $ 13,091 ​ $ 2,824 ​ $ 2,769 ​ $ 711 ​ $ 5 ​ $ 632 ​ $ 20,032 ​ The following tables present the balance of the allowance for loan losses, the allowance by impairment methodology, total loans, and loans by impairment methodology as of December 31, 2022 and December 31, 2021. ​ Table 4.2: Allowance for Loan Losses and Loans by Impairment Methodology ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ Commercial ​ Development ​ Residential ​ Commercial ​ Consumer ​ Unallocated ​ Total Allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Collectively evaluated for impairment ​ ​ 13,205 ​ ​ 2,860 ​ ​ 3,044 ​ ​ 456 ​ ​ 5 ​ ​ 638 ​ ​ 20,208 Total allowance ​ $ 13,205 ​ $ 2,860 ​ $ 3,044 ​ $ 456 ​ $ 5 ​ $ 638 ​ $ 20,208 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ 418 ​ $ — ​ $ — ​ $ — ​ $ 418 Collectively evaluated for impairment ​ ​ 1,118,127 ​ ​ 195,027 ​ ​ 426,423 ​ ​ 44,924 ​ ​ 529 ​ ​ — ​ ​ 1,785,030 Total loans ​ $ 1,118,127 ​ $ 195,027 ​ $ 426,841 ​ $ 44,924 ​ $ 529 ​ $ — ​ $ 1,785,448 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ Commercial ​ Development ​ Residential ​ Commercial ​ Consumer ​ Unallocated ​ Total Allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Collectively evaluated for impairment ​ ​ 13,091 ​ ​ 2,824 ​ ​ 2,769 ​ ​ 711 ​ ​ 5 ​ ​ 632 ​ ​ 20,032 Total allowance ​ $ 13,091 ​ $ 2,824 ​ $ 2,769 ​ $ 711 ​ $ 5 ​ $ 632 ​ $ 20,032 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ 549 ​ $ — ​ $ — ​ $ — ​ $ 549 Collectively evaluated for impairment ​ ​ 968,442 ​ ​ 231,090 ​ ​ 341,942 ​ ​ 122,945 ​ ​ 586 ​ ​ — ​ ​ 1,665,005 Total loans ​ $ 968,442 ​ $ 231,090 ​ $ 342,491 ​ $ 122,945 ​ $ 586 ​ $ — ​ $ 1,665,554 ​ Gross commercial loans included $136 thousand and $69.6 million of Paycheck Protection Program loans as of December 31, 2022 and December 31, 2021, respectively. The Company does not maintain an allowance on these loan balances, as they are 100% guaranteed by the U.S. Small Business Administration (“SBA”). Management believes the ending allowances at each of the dates indicated were sufficient to absorb the probable losses inherent in the loan portfolio at those dates. The following tables present a summary of impaired loans and the related allowance as of December 31, 2022 and 2021. Table 4.3: Impaired Loans by Class ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Recorded ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid ​ Investment ​ Investment ​ Total ​ ​ ​ ​ Average ​ Interest ​ ​ Principal ​ with ​ with ​ Recorded ​ Related ​ Recorded ​ Income (Dollars in thousands) ​ Balance ​ No Allowance ​ Allowance ​ Investment ​ Allowance ​ Investment ​ Recognized Real Estate Loans ​ ​ ​ ​ ​ ​ ​ Commercial ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Construction and land development ​ — ​ — ​ — ​ — ​ — ​ — ​ — Residential ​ 418 ​ 418 ​ — ​ 418 ​ — ​ 427 ​ 15 Commercial ​ — ​ — ​ — ​ — ​ — ​ — ​ — Consumer ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total Impaired Loans ​ $ 418 ​ $ 418 ​ $ — ​ $ 418 ​ $ — ​ $ 427 ​ $ 15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Recorded ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid ​ Investment ​ Investment ​ Total ​ ​ ​ ​ Average ​ Interest ​ ​ Principal ​ with ​ with ​ Recorded ​ Related ​ Recorded ​ Income (Dollars in thousands) ​ Balance ​ No Allowance ​ Allowance ​ Investment ​ Allowance ​ Investment ​ Recognized Real Estate Loans ​ ​ ​ ​ ​ ​ ​ Commercial ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Construction and land development ​ — ​ — ​ — ​ — ​ — ​ — ​ — Residential ​ 549 ​ 549 ​ — ​ 549 ​ — ​ 569 ​ 24 Commercial ​ — ​ — ​ — ​ — ​ — ​ — ​ — Consumer ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total Impaired Loans ​ $ 549 ​ $ 549 ​ $ — ​ $ 549 ​ $ — ​ $ 569 ​ $ 24 ​ The following tables present a summary of past due and non-accrual loans by class as of December 31, 2022 and December 31, 2021. Table 4.4: Past Due and Non-Accrual Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ 30-59 Days ​ 60-89 Days ​ 90 Days or ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days or More ​ ​ ​ ​ ​ Past ​ Past ​ More ​ Total Past ​ ​ ​ ​ Total ​ Past Due and ​ Nonaccrual (Dollars in thousands) Due Due Past Due Due Current Loans Still Accruing Loans Real Estate Loans ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,118,127 $ 1,118,127 ​ $ — ​ $ — Construction and land development ​ — ​ — ​ — ​ — ​ 195,027 ​ 195,027 ​ — ​ — Residential ​ — ​ — ​ — ​ — ​ 426,841 ​ 426,841 ​ — ​ — Commercial ​ — ​ — ​ — ​ — ​ 44,924 ​ 44,924 ​ — ​ — Consumer ​ — ​ — ​ — ​ — ​ 529 ​ 529 ​ — ​ — Total Loans ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,785,448 ​ $ 1,785,448 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ 30-59 Days ​ 60-89 Days ​ 90 Days or ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days or More ​ ​ ​ ​ ​ Past ​ Past ​ More ​ Total Past ​ ​ ​ ​ Total ​ Past Due and ​ Nonaccrual (Dollars in thousands) ​ Due Due Past Due Due Current Loans Still Accruing Loans Real Estate Loans ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 968,442 ​ $ 968,442 ​ $ — ​ $ — Construction and land development ​ — ​ — ​ — ​ — ​ 231,090 ​ 231,090 ​ — ​ — Residential ​ — ​ — ​ — ​ — ​ 342,491 ​ 342,491 ​ — ​ — Commercial ​ — ​ — ​ — ​ — ​ 122,945 ​ 122,945 ​ — ​ — Consumer ​ — ​ — ​ — ​ — ​ 586 ​ 586 ​ — ​ — Total Loans ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,665,554 ​ $ 1,665,554 ​ $ — ​ $ — ​ ​ The following tables present a summary of credit quality information for loans by class as of December 31, 2022 and December 31, 2021. Table 4.5: Credit Quality Information by Loan Class ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total (Dollars in thousands) Pass Mention Substandard Doubtful Loss Loans Real Estate Loans ​ ​ ​ ​ ​ ​ Commercial ​ $ 1,116,890 ​ $ 1,237 ​ $ — ​ $ — ​ $ — ​ $ 1,118,127 Construction and land development ​ 192,877 ​ 2,150 ​ ​ — ​ — ​ — ​ 195,027 Residential ​ 426,841 ​ — ​ — ​ — ​ — ​ 426,841 Commercial ​ 44,924 ​ — ​ — ​ — ​ — ​ 44,924 Consumer ​ 529 ​ — ​ — ​ — ​ — ​ 529 Total Loans ​ $ 1,782,061 ​ $ 3,387 ​ $ — ​ $ — ​ $ — ​ $ 1,785,448 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total (Dollars in thousands) Pass Mention Substandard Doubtful Loss Loans Real Estate Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ $ 961,177 ​ $ 7,029 ​ $ 236 ​ $ — ​ $ — ​ $ 968,442 Construction and land development ​ 230,704 ​ — ​ 386 ​ — ​ — ​ 231,090 Residential ​ 342,377 ​ — ​ 114 ​ — ​ — ​ 342,491 Commercial ​ 122,945 ​ — ​ — ​ — ​ — ​ 122,945 Consumer ​ 586 ​ — ​ — ​ — ​ — ​ 586 Total Loans ​ $ 1,657,789 ​ $ 7,029 ​ $ 736 ​ $ — ​ $ — ​ $ 1,665,554 ​ The Company assesses credit quality based on internal risk rating of loans. Internal risk rating definitions are: Pass Special Mention Substandard Doubtful Loss As part of the Company’s loan modification program to borrowers experiencing financial difficulty, the Company may provide concessions to minimize the economic loss and improve long-term loan performance and collectability. There were no new loans determined to be TDRs for the year ended December 31, 2022. The following table summarizes the Company’s loans that were determined to be TDRs during the year ended December 31, 2021. ​ Table 4.6: Troubled Debt Restructurings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Pre-Modification ​ Post-Modification ​ ​ Number of ​ Outstanding Recorded ​ Outstanding Recorded (Dollars in thousands) Contracts Investment Investment Real Estate Loans ​ ​ ​ Commercial ​ $ — ​ $ — ​ $ — Construction and land development ​ — ​ — ​ — Residential ​ 1 ​ 115 ​ 113 Commercial ​ — ​ — ​ — Consumer ​ — ​ — ​ — Total Impaired Loans ​ $ — ​ $ — ​ $ — ​ The modification of the one loan in 2021 resulted in a reduction of the loan’s interest rate. The Company had a recorded investment in TDRs of $418 thousand and $549 thousand as of December 31, 2022 and December 31, 2021, respectively. As of December 31, 2022 and 2021, all loans in TDR status were in compliance with their modified terms. There were no loans modified in TDRs that subsequently defaulted within 12 months of their modification date during the years ended December 31, 2022 and 2021. All TDRs are considered impaired and impairment is determined on a loan-by-loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. As of December 31, 2022 and 2021, none of the Bank’s TDRs required the recordation of a specific reserve. As of December 31, 2022 and 2021, there were no additional commitments to disburse funds on loans classified as TDRs.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2022
Derivatives
Derivatives	Note 5— Derivatives The Company enters into interest rate swap agreements (“swaps”) with commercial loan customers to provide a facility for customers to mitigate the fluctuations in the variable rate on the respective loans. These swaps are matched in exact offsetting terms to swaps that the Company enters into with an outside third party. These swaps qualify as derivatives, but are not designated as hedging instruments. The following table summarizes the Company’s swaps at December 31, 2022. Table 5.1: Derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ Estimated ​ ​ Years ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ ​ Fair ​ ​ to ​ ​ Receive ​ ​ Pay ​ (Dollars in thousands) ​ ​ Amount ​ ​ Value ​ ​ Maturity ​ ​ Rate ​ ​ Rate ​ Interest rate swap agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pay fixed/receive variable swaps ​ $ 13,767 ​ $ 1,217 ​ ​ 2.8 years ​ ​ 6.02 % ​ 2.59 % Pay variable/receive fixed swaps ​ ​ 13,767 ​ ​ (1,217) ​ ​ 2.8 years ​ ​ 2.59 % ​ 6.02 % Total interest rate swap agreements ​ $ 27,534 ​ $ — ​ ​ 2.8 years ​ ​ 4.31 % ​ 4.31 % ​ The swaps

Bank Premises and Equipment, Ne

Bank Premises and Equipment, Net	12 Months Ended
	Dec. 31, 2022
Bank Premises and Equipment, Net
Bank Premises and Equipment, Net	Note 6— Bank Premises and Equipment, Net The following table summarizes major classes of bank premises and equipment and the total accumulated depreciation as of December 31, 2022 and December 31, 2021. Table 6.1: Components of Bank Premises and Equipment, Net ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Leasehold improvements ​ $ 2,873 ​ $ 2,840 Furniture and equipment ​ 6,268 ​ 6,157 Total Bank Premises and Equipment ​ $ 9,141 ​ $ 8,997 Less: Accumulated depreciation ​ (7,922) ​ (7,377) Total Bank Premises and Equipment, Net ​ $ 1,219 ​ $ 1,620 ​ Depreciation expense was $557 thousand and $814 thousand for the years ended December 31, 2022 and December 31, 2021, respectively.

Deposits and Borrowings

Deposits and Borrowings	12 Months Ended
	Dec. 31, 2022
Deposits and Borrowings
Deposits and Borrowings	Note 7— Deposits and Borrowings The following table shows the components of the Company’s funding sources. Table 7.1: Composition of Deposits, Short-Term Borrowings and Long-Term Debt ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Deposits: ​ ​ Non-interest bearing demand deposits (1) ​ $ 476,697 ​ $ 488,838 Interest-bearing demand deposits (1) ​ 691,945 ​ 633,901 Savings deposits ​ 95,241 ​ 101,376 Time deposits (2) ​ 803,857 ​ 657,438 Total Deposits ​ $ 2,067,740 ​ $ 1,881,553 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 31, 2021 (Dollars in thousands) ​ Stated Interest Rates (3) ​ Weighted-Average Interest Rate (3) ​ Carrying Value ​ Carrying Value Long-term Debt: ​ ​ ​ Subordinated debt 5.25 % ​ 5.25 % $ 24,624 ​ $ 24,728 FHLB advances (4) ​ ​ ​ ​ ​ — ​ 18,000 Total Long-term Debt: ​ ​ ​ ​ ​ $ 24,624 ​ $ 42,728 (1) Overdraft demand deposits reclassified to loans totaled $1 thousand and $2 thousand at December 31, 2022 and December 31, 2021, respectively. (2) The aggregate amount of certificates of deposit with a minimum denomination of $250,000 was $318.7 million and $255.0 million at December 31, 2022 and December 31, 2021, respectively. (3) The stated interest rates and weighted-average interest rates are computed based on subordinated debt outstanding as of December 31, 2022. The subordinated debt outstanding as of December 31, 2022 bears interest at a fixed rate of 5.25% compared to the fixed rate of 5.75% paid on the subordinated debt outstanding as of December 31, 2021. (4) The Company’s Federal Home Loan Bank (“FHLB”) advances were called by the FHLB during the second quarter of 2022. ​ The Company obtains certain deposits through the efforts of third-party brokers. Brokered deposits totaled $352.0 million and $217.7 million at December 31, 2022 and December 31, 2021, respectively, and were included primarily in time deposits on the Company’s Consolidated Balance Sheets. Reciprocal IntraFi certificates of deposit totaled $25.7 million and $61.3 million at December 31, 2022 and December 31, 2021, respectively. Reciprocal IntraFi demand and money market deposits totaled $197.3 million and $209.6 million at December 31, 2022 and December 31, 2021, respectively. At December 31, 2022, there were no depositors that represented 5% or more of the Company’s total deposits. The Company completed a private placement of a $25.0 million fixed-to-floating subordinated note on June 15, 2022 (“2022 note”). Subject to limited exceptions permitting earlier redemption, the note is callable, in whole or in part, commencing July 1, 2027. Unless redeemed earlier, the note will mature on July 1, 2032. The note bears interest at a fixed rate of 5.25% to but excluding July 1, 2027, and will bear interest at a floating rate equal to the three-month Secured Overnight Financing Rate plus 245 basis points thereafter. The note qualifies as Tier 2 capital for regulatory purposes. The note is carried at its principal amount, less unamortized issuance costs. On July 15, 2022, the earliest available call date, the Company utilized the proceeds from the 2022 note issuance to redeem its $25.0 million fixed-to-floating 5.75% subordinated notes that were issued on July 6, 2017. The Company from time to time uses FHLB advances as a source of funding and interest rate risk management tool. FHLB advances are secured by a blanket floating lien on all real estate mortgage loans secured by 1 to 4 family residential, multi-family and commercial real estate properties. At December 31, 2022, the Company did not have any outstanding FHLB advances. Available borrowing capacity based on collateral value amounted to approximately $363.4 million at December 31, 2022. The Company also has federal funds lines of credit with correspondent banks available for overnight borrowing of $105.0 million of which $25.5 million had been drawn upon at December 31, 2022. The Company also has the capacity to borrow up to $24.9 million at the Federal Reserve discount window of which $0 had been drawn upon at December 31, 2022. The Bank had loans pledged at the Federal Reserve discount window totaling $34.1 million as of December 31, 2022. The following table shows the carrying amount of the Company’s time deposits by contractual maturity as of December 31, 2022. Table 7.2: Scheduled Maturities of Time Deposits ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 2023 ​ $ 526,072 2024 ​ 231,404 2025 ​ 43,119 2026 ​ 2,343 2027 ​ 919 Thereafter ​ — Total ​ $ 803,857 ​

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases
Leases	Note 8— Leases Lease liabilities represent the Company’s obligation to make lease payments and are presented at each reporting date as the net present value of the remaining contractual cash flows. Cash flows are discounted at the Company’s incremental borrowing rate in effect at the commencement date of the lease. Right-of-use assets represent the Company’s right to use the underlying asset for the lease term and are calculated as the sum of the lease liability and if applicable, prepaid rent, initial direct costs and any incentives received from the lessor. The Company’s long-term lease agreements are classified as operating leases. Certain of these leases offer the option to extend the lease term and the Company has included such extensions in its calculation of the lease liabilities to the extent the options are reasonably certain of being exercised. The lease agreements do not provide for residual value guarantees and have no restrictions or covenants that would impact dividends or require incurring additional financial obligations. ​ The following table presents an overview of the Company’s leases as of December 31, 2022 and December 31, 2021. Table 8.1: Leases Overview ​ ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Lease liabilities ​ $ 4,858 ​ $ 5,182 ​ Right-of-use assets ​ 4,611 ​ 4,913 ​ Weighted average remaining lease term (years) ​ 4.08 years 4.07 years Weighted average discount rate ​ 2.62 % 2.25 % ​ The following table presents a composition of the Company’s lease costs for the years ended December 31, 2022 and December 31, 2021. Table 8.2: Cost of Leases ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Operating lease cost ​ $ 1,469 ​ $ 1,496 Variable lease cost ​ — ​ — Short-term lease cost ​ — ​ — Total Lease Cost ​ $ 1,469 ​ $ 1,496 ​ The total cash paid for amounts included in the measurement of lease liabilities totaled $1.5 million and $1.5 million for the years ended December 31, 2022 and December 31, 2021, respectively. The following table is a maturity schedule of the Company’s future lease payments and reconciles the undiscounted total obligation to the total recorded lease liabilities as of December 31, 2022. Table 8.3: Lease Maturity Schedule ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 2023 ​ $ 1,336 2024 ​ 1,226 2025 ​ 1,058 2026 ​ 887 2027 ​ 234 Thereafter ​ 447 Total Undiscounted Cash Flows ​ $ 5,188 Discount ​ (330) Lease Liabilities ​ $ 4,858 ​ Total rent expense, including building expenses and real estate taxes for certain locations, amounted to $1.6 million and $1.6 million for the years ended December 31, 2022 and 2021, respectively. Rental expenses are classified as a component of the occupancy expense of premises line item in the Consolidated Statements of Income.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Taxes
Income Taxes	Note 9— Income Taxes The Company files income tax returns in the U.S. federal jurisdiction, the Commonwealth of Virginia, the District of Columbia, the State of Maryland, the State of North Carolina and the State of West Virginia. With few exceptions, the Company is no longer subject to U.S. federal, state and local income tax examinations by tax authorities for years prior to 2019. ​ The following table presents the significant components of the Company’s deferred tax assets and deferred tax liabilities as of December 31, 2022 and December 31, 2021. Table 9.1: Significant Components of Deferred Tax Assets and Liabilities ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Deferred Tax Assets: ​ ​ Allowance for loan losses ​ $ 4,581 ​ $ 4,387 Lease liabilities ​ 1,101 ​ 1,135 Share-based compensation expense ​ 91 ​ 208 Unrealized losses on debt securities ​ 7,628 ​ 106 Other ​ 416 ​ 398 Total Deferred Tax Assets ​ $ 13,817 ​ $ 6,234 Deferred Tax Liabilities : ​ ​ Right-of-use assets ​ 1,045 ​ 1,076 Depreciation ​ 49 ​ 104 Net deferred loan costs ​ 920 ​ 200 Other ​ 62 ​ 41 Total Deferred Tax Liabilities ​ $ 2,076 ​ $ 1,421 Net Deferred Tax Assets ​ $ 11,741 ​ $ 4,813 ​ The following table summarizes the Company’s provision for income taxes charged to operations for the years ended December 31, 2022 and December 31, 2021, respectively. Table 9.2: Provision for Income Taxes ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Current tax expense ​ $ 7,666 ​ $ 7,477 Deferred tax expense (benefit) ​ 594 ​ (678) Total Income Tax Expense ​ $ 8,260 ​ $ 6,799 ​ The following table presents the factors driving the difference between the amount of income tax determined by applying the statutory federal income tax rate to income before income taxes and the amount of income tax expense reflected in the Consolidated Statements of Income for the years ended December 31, 2022 and December 31, 2021, respectively. Table 9.3: Effective Income Tax Reconciliation ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Computed “expected” tax expense ​ $ 8,413 ​ $ 6,775 Increase (decrease) in income taxes resulting from: ​ ​ Bank-owned life insurance ​ (114) ​ (86) Tax-exempt interest income ​ (158) ​ (161) State income taxes, net of federal benefit ​ 516 ​ 444 Excess tax benefit on share-based compensation ​ (427) ​ (125) Other, net ​ 30 ​ (48) Total ​ $ 8,260 ​ $ 6,799

Restriction on Cash

Restriction on Cash	12 Months Ended
	Dec. 31, 2022
Restriction on Cash
Restriction on Cash	Note 10— Restriction on Cash Prior to March 2020, the Company was required to maintain a reserve against its deposits in accordance with Regulation D of the Federal Reserve Act. In March 2020, the Federal Reserve reduced the reserve requirement to zero percent effective March 26, 2020. Prior to the change effective March 26, 2020, reserve requirement ratios on net transactions accounts differed based on the amount of net transaction accounts at the depository institution. As a result, the Company was not required to maintain a cash reserve requirement as of December 31, 2022 and December 31, 2021.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies
Commitments and Contingencies	Note 11— Commitments and Contingencies The Company is party to financial instruments with off balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit and financial guarantees. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the balance sheet. The contract or notional amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit and financial guarantees written is represented by the contractual notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on balance sheet instruments. The Company does not anticipate any material losses as a result of these transactions. The following table summarizes the contract or notional amount of the Company’s exposure to off-balance sheet risk as of December 31, 2022 and December 31, 2021. Table 11.1: Unfunded Lending Commitments ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Commitments to extend credit ​ $ 240,084 ​ $ 272,701 Standby letters of credit ​ $ 14,677 ​ $ 14,485 ​ Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property and equipment, income-producing commercial properties, and other real estate properties. Unfunded commitments under lines of credit are commitments for possible future extensions of credit to existing customers. Those lines of credit may not be drawn upon to the total extent to which the Company is committed. Standby letters of credit written are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Measurements
Fair Value Measurements	Note 12— Fair Value Measurements Determination of Fair Value The Company determines the fair values of its financial instruments based on the fair value hierarchy established by ASC Topic 820 – Fair Value Measurement The fair value measurements and disclosures topic specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. Fair Value Hierarchy In accordance with this guidance, the Company groups its assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. 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. A financial instrument’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 In accordance with ASC Topic 820, 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 and Equity Securities Securities available-for-sale and equity securities with readily determinable fair values 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 primarily valued using fair value measurements that are considered to be Level 2. The Company has contracted with a third party portfolio accounting service vendor for valuation of its portfolio of debt securities. The vendor’s primary source for security valuation is ICE Data Services, which evaluates securities based on market data. ICE Data Services utilizes evaluated pricing models that vary by asset class and include available trade, bid, and other market information. Generally, the methodology includes broker quotes, proprietary models, vast descriptive terms and conditions databases, as well as extensive quality control programs. The vendor utilizes proprietary valuation matrices for valuing all municipals 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. Interest Rate Swap Agreements Interest rate swap agreements are measured by alternative pricing sources using a discounted cash flow method that incorporates current market interest rates. Based on the complex nature of interest rate swap agreements, the markets these instruments trade in are not as efficient and are less liquid than that of the more mature Level 1 markets. These characteristics classify interest rate swap agreements as Level 2 in the fair value hierarchy. The following table summarizes the fair value of assets measured at fair value on a recurring basis as of December 31, 2022 and December 31, 2021. Table 12.1: Assets Measured at Fair Value on a Recurring Basis ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2022 Using ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ Significant ​ ​ ​ ​ ​ Active Markets for ​ Significant Other ​ Unobservable ​ ​ Balance as of ​ Identical Assets ​ Observable Inputs ​ Inputs (Dollars in thousands) December 31, 2022 (Level 1) (Level 2) (Level 3) Assets: ​ ​ ​ ​ Securities available-for-sale: ​ ​ ​ ​ U.S. Treasuries ​ $ 59,210 ​ $ — ​ $ 59,210 ​ $ — U.S. government and federal agencies ​ 34,760 ​ — ​ 34,760 ​ — Corporate bonds ​ 2,614 ​ — ​ 2,614 ​ — Collateralized mortgage obligations ​ 38,474 ​ — ​ 38,474 ​ — Tax-exempt municipal ​ 4,645 ​ — ​ 4,645 ​ — Taxable municipal ​ 579 ​ — ​ 579 ​ — Mortgage-backed ​ 217,294 ​ — ​ 217,294 ​ — Equity securities, at fair value ​ 2,115 ​ 2,115 ​ — ​ — Interest rate swap agreement ​ ​ 1,217 ​ ​ — ​ ​ 1,217 ​ ​ — Total assets at fair value ​ $ 360,908 ​ $ 2,115 ​ $ 358,793 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swap agreement ​ $ 1,217 ​ $ — ​ $ 1,217 ​ $ — Total liabilities at fair value ​ $ 1,217 ​ $ — ​ $ 1,217 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2021 Using ​ ​ ​ Quoted Prices in ​ ​ Significant ​ ​ ​ ​ ​ Active Markets for ​ Significant Other ​ Unobservable ​ ​ Balance as of ​ Identical Assets ​ Observable Inputs ​ Inputs (Dollars in thousands) ​ December 31, 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) Assets: ​ ​ ​ ​ ​ ​ ​ ​ Securities available-for-sale: ​ ​ ​ ​ ​ U.S. Treasuries ​ $ 30,543 ​ $ — ​ $ 30,543 ​ $ — U.S. government and federal agencies ​ ​ 34,537 ​ — ​ 34,537 ​ — Corporate bonds ​ 1,031 ​ — ​ 1,031 ​ — Collateralized mortgage obligations ​ 39,049 ​ — ​ 39,049 ​ — Tax-exempt municipal ​ 5,262 ​ — ​ 5,262 ​ — Taxable municipal ​ 1,685 ​ — ​ 1,685 ​ — Mortgage-backed ​ 127,193 ​ — ​ 127,193 ​ — Equity securities, at fair value ​ 1,869 ​ 1,869 ​ — ​ — Total assets at fair value ​ $ 241,169 ​ $ 1,869 ​ $ 239,300 ​ $ — ​ Assets Measured at Fair Value on a Nonrecurring Basis Under certain circumstances, the Company makes adjustments to fair value for assets and liabilities although they are not measured at fair value on an ongoing basis. The following describes the valuation techniques used by the Company to measure certain assets recorded at fair value on a nonrecurring basis in the financial statements: Impaired Loans Loans are designated as impaired when, in the judgment of management based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreements will not be collected when due. The measurement of loss associated with impaired loans can be based on either the observable market price of the loan or the fair value of the collateral. Collateral may be in the form of real estate or business assets including equipment, inventory, and accounts receivable. The vast majority of the Company’s collateral is real estate. The value of real estate collateral is determined utilizing a market valuation approach based on an appraisal, of one year or less, conducted by an independent, licensed appraiser 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 property is more than one-year-old and not solely based on observable market comparables or management determines the fair value of the collateral is further impaired below the appraised value, then a Level 3 valuation is considered to measure the fair value. The value of business equipment is based upon an outside appraisal, of one year or less, 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 provision for loan losses on the Consolidated Statements of Income. The Company had no impaired loans with a recorded reserve as of December 31, 2022 and 2021. Other Real Estate Owned Other real estate owned is carried at the lower of cost or fair value less selling costs. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value using observable market data, the Company records the property as Level 2. When an appraised value using observable market data is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Company records the property as Level 3 valuation. Any fair value adjustments are recorded in the period incurred and expensed against current earnings. The Company had no other real estate owned as of December 31, 2022 and 2021. The following table presents the carrying value and estimated fair value, including the level within the fair value hierarchy, of the Company’s financial instruments as of December 31, 2022 and December 31, 2021. Table 12.2: Fair Value of Financial Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2022 Using ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ ​ ​ ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ for Identical ​ Significant Other ​ Unobservable ​ ​ ​ ​ Carrying Value ​ Assets ​ Observable Inputs ​ Inputs ​ Fair Value as of (Dollars in thousands) ​ as of December 31, 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ December 31, 2022 Assets: ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 61,599 ​ $ 61,599 ​ $ — ​ $ — ​ $ 61,599 Securities: ​ ​ ​ ​ ​ Available-for-sale ​ 357,576 ​ — ​ 357,576 ​ — ​ 357,576 Held-to-maturity ​ 99,415 ​ — ​ 81,161 ​ — ​ 81,161 Equity securities, at fair value ​ 2,115 ​ 2,115 ​ — ​ — ​ 2,115 Restricted securities, at cost ​ ​ 4,425 ​ ​ — ​ ​ 4,425 ​ ​ — ​ ​ 4,425 Loans, net ​ 1,769,300 ​ — ​ — ​ 1,676,887 ​ 1,676,887 Interest rate swap agreement ​ ​ 1,217 ​ ​ — ​ ​ 1,217 ​ ​ — ​ ​ 1,217 Bank owned life insurance ​ 21,170 ​ — ​ 21,170 ​ — ​ 21,170 Accrued interest receivable ​ 5,531 ​ — ​ 5,531 ​ — ​ 5,531 Liabilities: ​ ​ ​ ​ ​ Deposits ​ $ 2,067,740 ​ $ — ​ $ 2,065,248 ​ $ — ​ $ 2,065,248 Subordinated debt ​ 24,624 ​ — ​ — ​ 22,457 ​ 22,457 Federal funds purchased ​ ​ 25,500 ​ ​ — ​ ​ 25,500 ​ ​ — ​ ​ 25,500 Interest rate swap agreement ​ ​ 1,217 ​ ​ — ​ ​ 1,217 ​ ​ — ​ ​ 1,217 Accrued interest payable ​ 1,035 ​ — ​ 1,035 ​ — ​ 1,035 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2021 Using ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ ​ ​ ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ for Identical ​ Significant Other ​ Unobservable ​ ​ ​ ​ ​ Carrying Value ​ Assets ​ Observable Inputs ​ Inputs ​ Fair Value as of (Dollars in thousands) ​ as of December 31, 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ December 31, 2021 Assets: ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 105,799 ​ $ 105,799 ​ $ — ​ $ — ​ $ 105,799 Securities: ​ ​ ​ ​ ​ Available-for-sale ​ 239,300 ​ — ​ 239,300 ​ — ​ 239,300 Held-to-maturity ​ ​ 105,509 ​ ​ — ​ 103,258 ​ — ​ 103,258 Equity securities, at fair value ​ 1,869 ​ 1,869 ​ — ​ — ​ 1,869 Restricted securities, at cost ​ ​ 4,951 ​ ​ — ​ ​ 4,951 ​ ​ — ​ ​ 4,951 Loans, net ​ 1,646,437 ​ — ​ — ​ 1,659,396 ​ 1,659,396 Bank owned life insurance ​ 20,998 ​ — ​ 20,998 ​ — ​ 20,998 Accrued interest receivable ​ 4,943 ​ — ​ 4,943 ​ — ​ 4,943 Liabilities: ​ ​ ​ ​ ​ Deposits ​ $ 1,881,553 ​ $ — ​ $ 1,882,132 ​ $ — ​ $ 1,882,132 FHLB advances ​ 18,000 ​ — ​ 17,837 ​ — ​ 17,837 Subordinated debt ​ 24,728 ​ — ​ — ​ 25,325 ​ 25,325 Accrued interest payable ​ 843 ​ — ​ 843 ​ — ​ 843 ​

Earnings per Common Share

Earnings per Common Share	12 Months Ended
	Dec. 31, 2022
Earnings per Common Share
Earnings per Common Share	Note 13— Earnings per Common Share Earnings per common share is calculated in accordance with ASC 260 - Earnings Per Share Under the two-class method, basic earnings per common share is computed by dividing net earnings allocated to common stock by the weighted-average number of voting common shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per common share is computed using the weighted-average number of shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method. ​ The following table summarizes the computation of earnings per share for the years December 31, 2022 and December 31, 2021. Table 13.1: Computation of Basic and Diluted Earnings per Common Share ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 31, 2021 Earnings per common share - basic: ​ ​ ​ Income available to common shareholders (in thousands): ​ ​ ​ Net income ​ $ 31,803 ​ $ 25,461 Less: Income attributable to unvested restricted stock awards ​ (136) ​ (119) Net income available to common shareholders ​ $ 31,667 ​ $ 25,342 ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding: ​ ​ Common shares outstanding, including unvested restricted stock ​ 13,991,875 ​ 13,645,600 Less: Unvested restricted stock ​ (60,034) ​ (64,014) Weighted-average common shares outstanding - basic ​ 13,931,841 ​ 13,581,586 ​ ​ ​ ​ ​ ​ ​ Earnings per common share - basic ​ $ 2.27 ​ $ 1.87 ​ ​ ​ ​ ​ ​ ​ Earnings per common share - diluted: ​ ​ Income available to common shareholders (in thousands): ​ ​ Net income ​ $ 31,803 ​ $ 25,461 Less: Income attributable to unvested restricted stock awards ​ (135) ​ (117) Net income available to common shareholders ​ $ 31,668 ​ $ 25,344 ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding: ​ ​ Common shares outstanding, including unvested restricted stock ​ 13,991,875 ​ 13,645,600 Less: Unvested restricted stock ​ (60,034) ​ (64,014) Plus: Effect of dilutive options ​ 152,586 ​ 298,009 Weighted-average common shares outstanding - diluted ​ 14,084,427 ​ 13,879,595 ​ ​ ​ ​ ​ ​ ​ Earnings per common share - diluted ​ $ 2.25 ​ $ 1.83 ​ Outstanding options to purchase common stock were considered in the computation of diluted earnings per share for the periods presented. All stock options outstanding as of December 31, 2022 and December 31, 2021 were included as none had anti-dilutive effects.

Stock Based Compensation Plan

Stock Based Compensation Plan	12 Months Ended
	Dec. 31, 2022
Stock Based Compensation Plan
Stock Based Compensation Plan	Note 14— Stock Based Compensation Plan The Company’s share-based compensation plan, approved by stockholders and effective April 28, 2015 (the “2015 Plan”), provides for the grant of share-based awards in the form of incentive stock options, non-incentive stock options, restricted stock and restricted stock units to directors and employees. The Company has reserved 976,211 shares of voting common stock for issuance under the 2015 Plan, which will remain in effect until April 28, 2025. The Company’s Compensation Committee administers the 2015 Plan and has the authority to determine the terms and conditions of each award thereunder. As of December 31, 2022, 300,640 shares are available to grant in future periods under the 2015 Plan. The Company’s previous share-based compensation plan, the 2006 Stock Option Plan (the “2006 Plan”), provided for the grant of share-based awards in the form of incentive stock options and non-incentive stock options to directors and employees. As amended, the 2006 Plan provided for awards of up to 1,490,700 shares. In April 2015, the 2006 Plan was terminated and replaced with the 2015 Plan. Options outstanding prior to April 28, 2015 were granted under the 2006 Plan and shall be subject to the 2006 provisions of the 2006 Plan. To date, options granted under the 2015 Plan typically vest over five years and expire 10 years from the grant date. Under the 2015 Plan, the exercise price of options may not be less than 100% of fair market value at the grant date with a maximum term for an option award of 10 years from the date of grant. The table below provides a summary of the stock options activity for the year ended December 31, 2022. Table 14.1: Summary of Stock Options Activity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ Weighted Average ​ Aggregate Intrinsic ​ Shares Exercise Price Value Outstanding at January 1, 2022 534,236 ​ $ 10.45 ​ Granted — ​ — ​ Exercised (340,649) ​ 9.74 ​ Forfeited or expired (3,653) ​ 8.79 ​ Outstanding at December 31, 2022 189,934 ​ 11.76 ​ $ 3,232,163 Exercisable at December 31, 2022 189,934 ​ $ 11.76 ​ $ 3,232,163 ​ The aggregate intrinsic value of stock options in the table above represents the total amount by which the current market value of the underlying stock exceeds the exercise price of the option that would have been received by the Company had all option holders exercised their options on December 31, 2022. The intrinsic value of options exercised was $4.6 million for the year ended December 31, 2022 and $1.3 million for the year ended December 31, 2021. These amounts and the intrinsic values noted in the table above change based on changes in the market value of the Company’s voting common stock. The table below provides a summary of the stock options outstanding and exercisable as of December 31, 2022. Table 14.2: Summary of Stock Options Outstanding and Exercisable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Options Outstanding ​ Options Exercisable ​ ​ ​ ​ Weighted Average ​ ​ ​ Weighted Average ​ ​ ​ ​ Remaining ​ ​ ​ Remaining ​ ​ Number ​ Contractual Life ​ Number ​ Contractual Life Exercise Prices Outstanding in Years Exercisable in Years $0.00 - $11.00 187 0.04 187 0.04 $11.01 - $12.00 188,685 2.30 188,685 2.30 $12.01 - $13.00 1,062 1.98 1,062 1.98 Total 189,934 2.30 189,934 2.30 ​ There were no options granted during the years ended December 31, 2022 or December 31, 2021. The Company did not have share-based compensation expense applicable to the Company’s share-based compensation plans for stock options for the year ended December 31, 2022. Share-based compensation expense applicable to the Company’s share-based compensation plans for stock options was $11 thousand for the year ended December 31, 2021. The Company does not have any unrecognized share-based compensation expense related to nonvested options as of December 31, 2022. ​ The table below provides a summary of the restricted stock awards granted under the 2015 plan. Table 14.3: Summary of Restricted Stock Awards ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ Weighted Average ​ Shares Grant Date Fair Value Nonvested at January 1, 2022 75,826 ​ $ 17.25 Granted 24,423 ​ 27.44 Vested (42,561) ​ 17.18 Forfeited (2,503) ​ 17.66 Nonvested at December 31, 2022 55,185 ​ ​ 21.80 ​ Compensation expense for restricted stock grants is recognized over the vesting period of the awards based on the fair value of the Company’s voting common stock at issue date. The fair value of the stock was determined using the closing stock price on the day of grant. The restricted stock grants vest over two Share-based compensation expense applicable to the Company’s share-based compensation plans for restricted stock grants was $573 thousand and $548 thousand for the years ended December 31, 2022 and December 31, 2021, respectively. The total fair value of the shares, which vested during 2022 and 2021, was $1.1 million and $656 thousand, respectively. Unrecognized share-based compensation expense related to nonvested restricted stock grants amounted to $1.1 million as of December 31, 2022. This amount is expected to be recognized over a weighted-average period of 1.7 years.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2022
Employee Benefit Plans
Employee Benefit Plans	Note 15— Employee Benefit Plans Effective August 1, 2006, the Company adopted a contributory 401(k) savings plan (the “401(k) Plan”) covering substantially all employees. Eligible employees may elect to defer a portion of their compensation to the 401(k) Plan. The Board of Directors may elect to match a portion of each employee’s contribution. The Company made contributions of $474 thousand and $495 thousand during the years ended December 31, 2022 and December 31, 2021, respectively. The costs associated with the Company’s 401(k) Plan are included in the salaries and employee benefits line item in the Consolidated Statements of Income. The Company approved a deferred compensation plan in 2017 that provides key employees an additional way to defer their salary on a pre-tax basis. Key employees are highly compensated employees as defined by the Internal Revenue Service (“IRS”). Board members may also participate in the plan to defer their board fees. The plan is voluntary and not subject to IRS/Department of Labor discrimination testing. The deferred compensation liability was $1.9 million and $1.8 million at December 31, 2022 and December 31, 2021, respectively, and was included in other liabilities on the Consolidated Balance Sheets. The Company incurred expenses for discretionary contributions of $192 thousand and $497 thousand for the years ended December 31, 2022 and December 31, 2021, respectively. These discretionary contributions vest for the participants over a period of three years unless years of service and age criteria are met .

Regulatory Capital

Regulatory Capital	12 Months Ended
	Dec. 31, 2022
Regulatory Capital
Regulatory Capital	Note 16— Regulatory Capital The Company is a bank holding company with less than $3 billion in assets and does not (i) have significant off balance sheet exposure, (ii) engage in significant non-banking activities, or (iii) have a material amount of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). As a result, the Company qualifies as a small bank holding company under the Federal Reserve’s Small Bank Holding Company Policy Statement and is currently not subject to consolidated regulatory requirements. The Bank is subject to capital adequacy standards adopted by the Federal Reserve, including the capital rules that implemented the Basel III regulatory capital reforms developed by the Basel Committee on Banking Supervision. Failure to meet minimum capital requirements can initiate certain mandatory – possibly additional discretionary – actions by regulators that, if undertaken, could have a direct material effect on the financial statements. Under capital adequacy guidelines, the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Management believes that the Bank met all capital adequacy requirements to which it was subject as of December 31, 2022 and December 31, 2021. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier 1 capital to risk-weighted assets, common equity Tier 1 to risk-weighted assets, and Tier 1 capital to average assets. In addition to the minimum regulatory capital required for capital adequacy purposes, the Bank is required to maintain a minimum capital conservation buffer above those minimums in the form of common equity. The capital conservation buffer, which was phased in ratably over a four year period beginning January 1, 2016, is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of common equity Tier 1 to risk-weighted assets above the minimum but below the conservation buffer will face constraints on dividends, equity repurchases, and discretionary compensation paid to certain officers, based on the amount of the shortfall. The capital conservation buffer was 2.5% at December 31, 2021, and is applicable for the common equity Tier 1, Tier 1, and total capital ratios. The Bank’s institution specific capital conservation buffer above the required minimums was 7.6% at December 31, 2022. As of December 31, 2022, the most recent notification from the Federal Reserve Bank of Richmond categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the institution must maintain minimum total risk-based, common equity Tier 1, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the table below. There are no conditions or events since the notification that management believes have changed the Bank’s category. The table below provides a summary of the Bank’s capital ratios as of December 31, 2022 and December 31, 2021. Table 16.1: Capital Ratios ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum To Be Well Capitalized ​ ​ Actual ​ Minimum Capital Requirement (1) ​ Under Prompt Corrective Action (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2022 ​ ​ ​ ​ Total capital (to risk weighted assets) ​ $ 283,471 15.6 % $ 190,798 10.5 % $ 181,712 10.0 % Tier 1 capital (to risk weighted assets) ​ 262,960 14.4 % 155,219 8.5 % 146,089 8.0 % Common equity tier 1 capital (to risk weighted assets) ​ 262,960 14.4 % 127,828 7.0 % 118,697 6.5 % Tier 1 capital (to average assets) ​ 262,960 11.3 % 93,083 4.0 % 116,354 5.0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ ​ ​ Total capital (to risk weighted assets) ​ $ 252,843 15.3 % $ 173,923 10.5 % $ 165,641 10.0 % Tier 1 capital (to risk weighted assets) ​ 232,458 14.0 % 140,795 8.5 % 132,513 8.0 % Common equity tier 1 capital (to risk weighted assets) ​ 232,458 14.0 % 115,948 7.0 % 107,666 6.5 % Tier 1 capital (to average assets) ​ 232,458 11.0 % 84,799 4.0 % 105,999 5.0 % (1) Including Capital Conservation Buffer

Revenue

Revenue	12 Months Ended
	Dec. 31, 2022
Revenue
Revenue	Note 17— Revenue Certain of the Company’s non-interest revenue streams are derived from short-term contacts associated with services provided to deposit account holders as well as other ancillary services, which are accounted for in accordance with ASC 606 – Revenue Recognition services performed. Due to the short duration of most customer contracts that generate non-interest income, no significant judgments must be made in the determination of the amount and timing of revenue recognized. The following table shows the components of non-interest income for the years ended December 31, 2022 and December 31, 2021. Table 17.1: Components of Non-Interest Income ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Service charges on deposit accounts (1) ​ ​ ​ Overdrawn account fees ​ $ 88 ​ $ 76 Account service fees ​ 236 ​ 186 Other service charges and fees (1) ​ ​ Interchange income ​ 409 ​ 379 Other charges and fees ​ 247 ​ 98 Bank owned life insurance ​ 544 ​ 411 Gains on securities ​ — ​ 10 Net gains on premises and equipment (1) ​ — ​ 29 Insurance commissions (1) ​ 382 ​ 284 Other operating income (loss) (2) ​ (215) ​ 246 Total non-interest income ​ $ 1,691 ​ $ 1,719 (1) Income within the scope of ASC 606 – Revenue Recognition . (2) Includes other operating income (loss) within the scope of ASC 606 – Revenue Recognition amounting to $12 thousand for the year ended December 31, 2022. Includes other operating income (loss) of $127 thousand related to swap fee income on a back-to-back loan swap and a loss of $(354) thousand related to the fair value adjustment on equity securities carried at fair value for the year ended December 31, 2022, both of which are outside the scope of ASC 606. The equity securities consist of mutual funds held in a trust and were obtained for the purpose of economically hedging changes in the Company’s nonqualified deferred compensation liability. Includes other operating income (loss) within the scope of ASC 606 – Revenue Recognition of $52 thousand and a fair value adjustment gain of $194 thousand outside the scope of ASC 606 for the year ended December 31, 2021. A description of the Company’s revenue streams accounted for under ASC 606 follows: Service charges on deposit accounts Service charges on deposit accounts consist of overdrawn account fees and account service fees. Overdrawn account fees are recognized at the point in time that the overdraft occurs. Account service fees consist primarily of account analysis and other maintenance fees and are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Payment for service charges on deposit accounts is received immediately or in the following month through a direct charge to customers’ accounts. Other service charges and fees Other service charges and fees are primarily comprised of interchange income and other charges and fees. Interchange income is earned whenever the Company’s debit and credit cards are processed through card payment networks such as Visa. Other charges and fees include revenue from processing wire transfers, cashier’s checks, and other transaction based services. The Company’s performance obligation for these charges and fees are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. Net gains on premises and equipment The Company records a gain or loss on the disposition of premises and equipment when control of the property transfers or is involuntarily converted to a monetary asset (e.g., insurance proceeds). This income is reflected in other operating income on the Company’s Consolidated Statements of Income. Insurance commissions The Company performs the function of an insurance intermediary by introducing the policyholder and insurer and is compensated in the form of a commission for placement of an insurance policy based on a percentage of premiums issued and maintained during the period. Revenue is recognized when received.

Other Operating Expenses

Other Operating Expenses	12 Months Ended
	Dec. 31, 2022
Other Operating Expenses
Other Operating Expenses	Note 18— Other Operating Expenses The following table shows the components of other operating expenses for the years ended December 31, 2022 and December 31, 2021. Table 18.1: Components of Other Operating Expenses ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Advertising expense ​ $ 193 ​ $ 395 Data processing ​ 1,940 ​ 1,471 FDIC insurance ​ 605 ​ 887 Professional fees ​ 1,231 ​ 1,418 State franchise tax ​ 2,092 ​ 1,849 Director costs ​ 810 ​ 797 Other operating expenses ​ 1,595 ​ 1,613 Total other operating expenses ​ $ 8,466 ​ $ 8,430 ​

Low Income Housing Tax Credit I

Low Income Housing Tax Credit Investments	12 Months Ended
	Dec. 31, 2022
Low Income Housing Tax Credit Investments
Low Income Housing Tax Credit Investments	Note 19— Low Income Housing Tax Credit Investments The Company has invested in seven separate housing equity funds as of December 31, 2022. The general purpose of these funds is to encourage and assist with participation in investing in low-income residential rental properties primarily located in the Commonwealth of Virginia, develop and implement strategies to maintain projects as low-income housing, deliver Federal Low Income Housing Credits to investors, allocate tax losses and other possible tax benefits to investors, and to preserve and protect project assets. The investments in these funds were recorded as other assets on the Company’s Consolidated Balance Sheets and were $5.2 million and $5.8 million at December 31, 2022 and December 31, 2021, respectively. The expected terms of these investments and the related tax benefits run through 2038. The net impact of amortization of the investments, tax credits and other tax benefits recognized as a component of income tax expense in the Consolidated Statements of Income during the years ended December 31, 2022 and December 31, 2021 was a benefit of $94 thousand and $77 thousand, respectively. Additional capital calls expected for the funds totaled $3.0 million at December 31, 2022 and December 31, 2021 and are included in other liabilities on the Company’s Consolidated Balance Sheets. ​

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)	Note 20— Accumulated Other Comprehensive Income (Loss) The following table presents the changes in accumulated other comprehensive income (loss), by category, net of tax for the years ended December 31, 2022 and December 31, 2021. Table 20.1: Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Unrealized Gains on ​ ​ ​ ​ ​ ​ ​ ​ Securities Transferred from ​ ​ ​ ​ ​ Unrealized Gain (Loss) on ​ Available-for-sale to ​ Accumulated Other (Dollars in thousands) Available-for-sale Securities Held-to-maturity Comprehensive Income (Loss) Beginning balance, January 1, 2022 ​ $ (789) ​ $ 389 ​ $ (400) Net change during the period ​ (28,153) ​ (144) ​ (28,297) Ending balance, December 31, 2022 ​ $ (28,942) ​ $ 245 ​ $ (28,697) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Unrealized Gains on ​ ​ ​ ​ ​ ​ ​ ​ Securities Transferred from ​ ​ ​ ​ ​ Unrealized Gain (Loss) on ​ Available-for-sale to ​ Accumulated Other (Dollars in thousands) Available-for-sale Securities Held-to-maturity Comprehensive Income (Loss) Beginning balance, January 1, 2021 ​ $ 3,786 ​ $ — ​ $ 3,786 Net change during the period ​ (4,575) ​ 389 ​ (4,186) Ending balance, December 31, 2021 ​ $ (789) ​ $ 389 ​ $ (400) ​ The Company did not have any items reclassified out of accumulated other comprehensive income (loss) during the year ended December 31, 2022. Items reclassified out of accumulated other comprehensive income (loss) to net income during the year ended December 31, 2021 consisted of a net gain on the call of a security classified as available-for-sale. The gain on this transaction totaled $10 thousand and its related tax was $2 thousand. Gains are included in the “Gains on securities” line item and the related tax is presented in the “Income tax expense” line item in the Consolidated Statements of Income.

Parent Company Financials

Parent Company Financials	12 Months Ended
	Dec. 31, 2022
Parent Company Financials
Parent Company Financials	Note 21— Parent Company Financials The following tables summarize John Marshall Bancorp Inc.’s (Parent Company only) condensed financial statements as of and for the years ended December 31, 2022 and December 31, 2021. Table 21.1: Condensed Parent Company Financials Parent Company Only Condensed Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Assets ​ ​ Cash and due from banks ​ $ 3,588 ​ $ 1,591 Equity securities, at fair value ​ 2,115 ​ 1,869 Investment in subsidiary ​ 234,263 ​ 232,058 Other assets ​ 366 ​ 310 Total assets ​ $ 240,332 ​ $ 235,828 Liabilities and Shareholders’ Equity ​ ​ Subordinated debt, net of unamortized issuance costs ​ $ 24,624 ​ $ 24,728 Accrued interest payable ​ 715 ​ 659 Other liabilities ​ 2,193 ​ 1,971 Total liabilities ​ $ 27,532 ​ $ 27,358 Total shareholders’ equity ​ $ 212,800 ​ $ 208,470 Total liabilities and shareholders’ equity ​ $ 240,332 ​ $ 235,828 ​ ​ Parent Company Only Condensed Statements of Income ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Income: ​ ​ ​ Other income (loss) ​ $ (354) ​ $ 194 Dividends from subsidiary ​ ​ 4,150 ​ ​ — Total income ​ 3,796 ​ 194 Expense: ​ ​ Subordinated debt interest expense ​ 1,810 ​ 1,487 Salaries and employee benefits ​ 292 ​ 958 Other operating expenses ​ 425 ​ 348 Total expense ​ 2,527 ​ 2,793 ​ ​ ​ ​ ​ ​ ​ Net income (loss) before income tax benefit and equity in undistributed earnings of subsidiary ​ 1,269 ​ (2,599) Income tax benefit ​ 605 ​ 546 Equity in undistributed earnings of subsidiary ​ 29,929 ​ 27,514 Net income ​ $ 31,803 ​ $ 25,461 ​ ​ Parent Company Only Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Cash Flows from Operating Activities ​ ​ ​ ​ ​ ​ Net income ​ $ 31,803 ​ $ 25,461 Adjustment to reconcile net income to net cash provided by (used in) operating activities: ​ ​ Equity in undistributed earnings of subsidiary ​ (29,929) ​ (27,514) Fair value adjustment on equity securities ​ 354 ​ (194) Amortization of debt issuance costs ​ 317 ​ 49 Deferred tax (benefit) ​ (54) ​ (157) Changes in assets and liabilities: ​ ​ (Increase) decrease in other assets ​ (2) ​ 98 Increase in other liabilities ​ 278 ​ 1,075 Net cash provided by (used in) operating activities ​ $ 2,767 ​ $ (1,182) Cash Flows from Investing Activities ​ ​ Purchase of equity securities ​ (600) ​ (708) Net cash (used in) investing activities ​ $ (600) ​ $ (708) Cash Flows from Financing Activities ​ ​ Issuance of common stock for share options exercised ​ 3,058 ​ 716 Repurchase of shares for tax withholding on share-based compensation ​ (8) ​ (162) Issuance of subordinated debt ​ ​ 24,579 ​ ​ — Repayment of subordinated debt ​ ​ (25,000) ​ ​ — Cash dividends paid ​ ​ (2,799) ​ ​ — Net cash provided by (used in) investing activities ​ $ (170) ​ $ 554 Net increase (decrease) in cash and cash equivalents ​ $ 1,997 ​ $ (1,336) Cash and cash equivalents, beginning of year ​ 1,591 ​ 2,927 Cash and cash equivalents, end of year ​ $ 3,588 ​ $ 1,591 ​

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions
Related Party Transactions	Note 22— Related Party Transactions The Company has had, and may be expected to have in the future, banking transactions in the ordinary course of business with directors, principal shareholders, executive officers, their immediate families and affiliated companies in which they are principal owners (commonly referred to as related parties), on the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with parties not related to the Company. These loans totaled $15.4 million and $12.0 million as of December 31, 2022 and December 31, 2021, respectively. During 2022, there were total principal additions of $3.9 million and total principal payments of $0.5 million with respect to such loans. Deposits of directors, executive officers and other related parties totaled $28.7 million and $35.4 million at December 31, 2022 and December 31, 2021, respectively.

Nature of Business and Summar_2

Nature of Business and Summary of Significant Accounting Policy (Policies)	12 Months Ended
	Dec. 31, 2022
Nature of Business and Summary of Significant Accounting Policy
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany accounts and transactions between the Company and the Bank have been eliminated.
Restriction on Dividends	Restriction on Dividends The Bank is subject to certain restrictions on the amount of dividends that it may pay to the Company without prior regulatory approval. At December 31, 2022, the Bank had $77.5 million available to distribute in the form of dividends to the Company.
Use of Estimates	Use of Estimates In preparing financial statements in conformity with accounting principles generally accepted in the United States of America (“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. 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 loan losses.
Reclassifications	Reclassifications Certain items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’ equity.
Concentration of Credit Risk	Concentration of Credit Risk Most of the Company’s activities are with customers located in the Washington, D.C. metropolitan area. Real estate loans, including commercial, construction and land development, and residential loans, represented 97% of the total loan portfolio at December 31, 2022 and 93% of the total loan portfolio at December 31, 2021. The Company does not have any significant concentrations to any one industry or customer.
Cash and Cash Equivalents	Cash and Cash Equivalents For the purposes of the statements of cash flows, cash and cash equivalents include cash and balances due from banks and interest-bearing deposits in banks (items with an original maturity of three months or less).
Securities	Securities Certain debt securities that management has the positive intent and ability to hold-to-maturity are classified as “held-to-maturity” and recorded at amortized cost. Debt securities not classified as held-to-maturity or trading, are classified as “available-for-sale” and recorded at fair value, with unrealized gains and losses excluded from earnings and reported net of deferred tax in accumulated other comprehensive income (loss) within shareholders’ equity. Purchase premiums and discounts on debt securities are recognized in interest income using the interest method over the terms of the securities. Transfers of debt securities into the held-to-maturity classification from the available-for-sale classification are made at fair value on the date of transfer. The unrealized holding gain or loss on the date of the transfer is reported in accumulated other comprehensive income (loss) and in the carrying value of the held-to-maturity securities. Such amounts are amortized over the remaining contractual lives of the securities. Impairment of securities occurs when the fair value of a security is less than its amortized cost. For debt securities, impairment is considered other-than-temporary and recognized in its entirety in net income if either (a) the intent is to sell the security or (b) it is more likely than not that it will be necessary to sell the security prior to recovery of its amortized cost basis. If, however, the Company’s intent is not to sell the security and it is not more than likely that the Company will be required to sell the security before recovery, the Company must determine what portion of the impairment is attributable to a credit loss, which occurs when the amortized cost of the security exceeds the present value of the cash flows expected to be collected from the security. If there is no credit loss, there is no other-than-temporary impairment. If there is a credit loss, other-than-temporary impairment exists and the credit loss must be recognized in net income and the remaining portion of impairment must be recognized in other comprehensive income. The Company regularly reviews each debt security for other-than-temporary impairment based on criteria that include the extent to which cost exceeds market price, the duration of that market decline, the financial health of and specific prospects for the issuer, the security’s ratings, the Company’s best estimate of the present value of cash flows expected to be collected from debt securities, the intention with regards to holding the security to maturity and the likelihood that the Company would be required to sell the security before recovery. Equity securities with readily determinable fair values are carried at fair value, with changes in fair value reported in net income. Any equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments. Restricted equity securities are carried at cost and are periodically evaluated for impairment based on the ultimate recovery of par value. The entirety of any impairment on the equity securities is recognized in earnings. Gains and losses on sales of securities are recorded on the trade date and determined using the specific identification method.
Loans	Loans The Company grants real estate, commercial and consumer loans to customers (representing the Company’s loan segments). A substantial portion of the loan portfolio is represented by commercial real estate loans in the Washington, D.C. metropolitan area. Within the real estate segment, the Company has also identified the residential, commercial and construction classes. The ability of the Company’s debtors to honor their real estate loan contracts is dependent upon the real estate market and general economic conditions in this area, among other factors. Underwriting and risk characteristics of each loan class are summarized as follows: ● Real estate residential mortgage loans carry risks associated with the continued creditworthiness of the borrower and changes in the value of the collateral. ● Real estate commercial mortgage loans carry risks associated with the successful operation of a business, the continued creditworthiness of the borrower and any related guarantors and changes in the value of the collateral. In the case of investor-owned commercial real estate, risks are expanded to include the financial strength of the tenants occupying the property and the stability of occupancy and lease rates. ● Real estate construction and land development loans carry risks that the project will not be finished according to schedule, the project will not be finished according to budget and the value of the collateral may, at any point in time, be less than the principal amount of the loan. Construction loans also bear the risk that the general contractor, who may or may not be a customer of the Company, may be unable to finish the construction project as planned because of financial pressure unrelated to the project. ● Commercial loans carry risks associated with the successful operation of a business and the financial strength of any related guarantors. In addition, there is risk associated with the value of collateral other than real estate which may depreciate over time and cannot be appraised with as much precision. ● Consumer loans carry the risks associated with the continued creditworthiness of the borrower and the value of any collateral. Consumer loans are more likely than real estate loans to be immediately adversely affected by job loss, divorce, illness or personal bankruptcy. Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their outstanding unpaid principal balances adjusted for the allowance for loan losses and any deferred fees or costs on originated loans. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield using the interest method. The accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 90 days past due unless the credit is well secured and in the process of collection. Other personal loans are typically charged off no later than 180 days past due. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal or interest is considered doubtful. The determination of days past due or delinquency status uses the first contractual payment date that has not been paid-in-full by the borrower. All interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged off when management believes the collectability of a loan balance is unlikely, which reduces the allowance. Loans are generally written down to the estimated net realizable value of the underlying collateral when the loan is 180 days past due. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans by segment in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of specific, general and unallocated components. The specific component relates to loans that are classified as impaired. For such loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonimpaired loans and is based on historical loss experience adjusted for qualitative factors. Qualitative factors used for each segment include an analysis of the levels of and trends in delinquencies, nonaccrual loans, and watch list loans; trends in concentrations, volume and term of loans; effects of any changes in lending policies and practices; experience, ability, and depth of management; national and local economic trends and conditions; and any other factor, as deemed appropriate. Our qualitative factors during the periods covered by these financial statements have also included specific considerations of inflation and other economic metrics, as well as the direct and indirect impacts of the pandemic. An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial, construction, and commercial mortgage loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer loans for impairment disclosures unless the loan has been modified in a troubled debt restructuring.
Troubled Debt Restructurings ("TDR")	Troubled Debt Restructurings (“TDR”) The Company may, for economic or legal reasons related to a borrower’s financial condition, grant a concession to the borrower that it would not otherwise consider, which results in the related loan being classified as a TDR. The Company strives to identify borrowers in financial difficulty early and work with them to modify their loan before their loan reaches nonaccrual status. The modified terms for a TDR may include rate reductions, principal forgiveness, payment forbearance and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. All restructured loans are considered impaired loans and may either be in accruing status or nonaccruing status. Nonaccruing restructured loans may return to accruing status provided doubt has been removed concerning the collectability of principal and interest as evidenced by a sufficient period of payment performance in accordance with the restructured terms. Loans may be removed from the restructured category in the year subsequent to the restructuring if their revised loan terms are considered to be consistent with terms that can be obtained in the credit market for loans with comparable risk and if they meet certain performance criteria.
Bank Premises and Equipment	Bank Premises and Equipment Bank premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed on the straight-line method over the useful lives of the assets, ranging from three
Bank Owned Life Insurance	Bank Owned Life Insurance The Company has purchased life insurance on certain key executives and officers. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or amounts due that are probable at settlement. Changes in cash surrender value are reflected in non-interest income in the Consolidated Statements of Income.
Other Real Estate Owned	Other Real Estate Owned Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Operating costs after acquisition are expensed as incurred. The Company had no other real estate owned as of December 31, 2022 and 2021. At December 31, 2022 and 2021, there were no consumer mortgage loans secured by residential real estate for which formal foreclosure proceedings were in progress.
Transfers of Financial Assets	Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (a) the assets have been isolated from the Company – put presumptively beyond the reach of the transferor and its creditors, even in the event of bankruptcy or other receivership, (b) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (c) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets.
Income Taxes	Income Taxes Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences, operating loss carryforwards, and tax credit carryforwards. Deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company recorded no liability for unrecognized tax benefits at December 31, 2022 or 2021.
Earnings Per Common Share	Earnings Per Common Share Earnings per common share is calculated in accordance with Accounting Standard Codification (“ASC”) 260 - Earnings Per Share Under the two-class method, basic earnings per common share is computed by dividing net earnings allocated to common stock by the weighted-average number of common shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per common share is computed using the weighted-average number of shares determined for the basic earnings per common share computation plus the dilutive effect of stock compensation using the treasury stock method. Earnings per share are restated for all stock splits and dividends through the date the financial statements are issued.
Advertising Costs	Advertising Costs The Company follows the policy of charging the production costs of advertising to expense as incurred. Advertising expense was $193 thousand and $395 thousand for the years ended December 31, 2022 and 2021, respectively.
Share-Based Compensation	Share-Based Compensation The Company recognizes the compensation cost relating to share-based payment transactions based on the grant date fair value of the equity instruments issued. The share compensation accounting guidance requires that compensation cost for all share-based awards be calculated and recognized over the vesting period. A Black-Scholes model is used to estimate the fair value of stock options. Restricted stock awards are valued using the closing stock price on the date of grant. The Company’s accounting policy is to recognized forfeitures as they occur.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains (losses) on securities available-for-sale and the amortization of unrealized losses or accretion of unrealized gains on securities transferred from available-for-sale to held-to-maturity, which are also recognized as a separate component of equity. Items reclassified out of accumulated other comprehensive income (loss) to net income relate solely to realized gains (losses) on sales of securities available-for-sale and appear under the caption “Gains on securities” in the Company’s Consolidated Statements of Income.
Derivatives	Derivatives The Company enters into interest rate swaps (“swaps”) with commercial loan customers to provide a facility to mitigate the fluctuations in the variable rate on the respective loans. These swaps are matched in exact offsetting terms to swaps that the Company enters into with an outside third party. The swaps are reported at fair value in other assets or other liabilities in the Consolidated Balance Sheets. The Company's swaps qualify as derivatives, but are not designated as hedging instruments. As such, any net gain or loss resulting from changes in the fair value is recognized in other operating (loss) income in the Consolidated Statements of Income. Refer to Note 5 for further discussion regarding the Company’s swaps.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair values of various assets and liabilities are estimated using relevant market information, valuation techniques and other assumptions, as more fully disclosed in Note 12. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect the estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The FASB has issued multiple updates to ASU 2016-13 as codified in Topic 326, including ASUs 2019-04, 2019-05, 2019-10, 2019-11, 2020-02, and 2020-03. These ASUs have provided for various minor technical corrections and improvements to the codification as well as other transition matters. Smaller reporting companies who file with the Securities and Exchange Commission (“SEC”) and all other entities who do not file with the SEC are required to apply the guidance for fiscal years, and interim periods within those years, beginning after December 15, 2022. The Company adopted ASU 2016-13 as of January 1, 2023 in accordance with the required implementation date. At adoption, the after tax impact to retained earnings was an approximate reduction of $(2.3) million based on our evaluation as of that date. This adjustment consisted of increases to the allowance for credit losses on loans, as well as the Company's reserve for unfunded loan commitments. Subsequent to adoption, the Company will record adjustments to its allowance for credit losses and reserves for unfunded commitments through the provision for credit losses in the Consolidated Statements of Income. For regulatory capital purposes, the Company and its subsidiary bank, have elected to utilize the optional three-year transition period for the adverse effects of implementing the standard. The Company is utilizing a discounted cash flow model to tabulate its estimate of current expected credit losses. For the purposes of calculating its quantitative reserves, the Company has segmented its loan portfolio based on loans which share similar risk characteristics. Within the quantitative portion of the calculation, the Company utilizes at least one or a combination of loss drivers, which may include unemployment rates, home price indices, and/or GDP, to adjust its loss rates over a reasonable and supportable forecast period of one year. A straight-line reversion technique is used for the following four quarters, at which time the Company reverts to historical averages. To further adjust the allowance for credit losses for expected losses not already included within the quantitative component of the calculation, the Company may consider several qualitative factors, including but not limited to: variability in the economic forecast, concentration of the loan portfolio, idiosyncratic risks not embedded in the data used in the model, as well as other factors deemed necessary and appropriate to support the estimate of expected credit losses. The Company's CECL implementation process included an assessment of: data availability and gap analysis, benchmarking data, data collection, consideration and analysis of multiple loss estimation methodologies, an assessment of relevant qualitative factors and correlation analysis of multiple potential loss drivers and their impact on the Company's historical loss experience. The Company also used the services of a third party advisor to validate the conceptual soundness of the methodology framework and of the CECL model. In March 2022, the FASB issued ASU 2022-02, “Financial Instruments-Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 addresses areas identified by the FASB as part of its post-implementation review of the credit losses standard (ASU 2016-13) that introduced the CECL model. The amendments eliminate the accounting guidance for TDRs by creditors that have adopted the CECL model and enhance the disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, the amendments require a public business entity to disclose current-period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The amendments in this ASU should be applied prospectively, except for the transition method related to the recognition and measurement of TDRs, where an entity has the option to apply a modified retrospective transition method resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. The Company adopted the guidance prospectively in the first quarter of 2023 and will provide the enhanced modification disclosures as part of the Form 10-Q for the first quarter of 2023. The adoption of the standard is not anticipated to have a material impact on the Company’s financial statements.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2022
Investment Securities
Summary of amortized cost and fair value of securities held-to-maturity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (Dollars in thousands) ​ Cost Gains (Losses) Value Held-to-maturity ​ ​ ​ ​ U.S. Treasuries ​ $ 6,000 ​ $ — ​ $ (840) ​ $ 5,160 U.S. government and federal agencies ​ 35,551 ​ — ​ (6,135) ​ 29,416 Collateralized mortgage obligations ​ 21,275 ​ — ​ (4,227) ​ 17,048 Taxable municipal ​ 6,073 ​ — ​ (1,364) ​ 4,709 Mortgage-backed ​ 30,516 ​ — ​ (5,688) ​ 24,828 Total Held-to-maturity Securities ​ $ 99,415 ​ $ — ​ $ (18,254) ​ $ 81,161 Available-for-sale ​ ​ ​ ​ U.S. Treasuries ​ $ 63,480 ​ $ — ​ $ (4,270) ​ $ 59,210 U.S. government and federal agencies ​ 38,748 ​ — ​ (3,988) ​ 34,760 Corporate bonds ​ 3,000 ​ — ​ (386) ​ 2,614 Collateralized mortgage obligations ​ 44,732 ​ — ​ (6,258) ​ 38,474 Tax-exempt municipal ​ 4,993 ​ — ​ (348) ​ 4,645 Taxable municipal ​ 608 ​ — ​ (29) ​ 579 Mortgage-backed ​ 238,652 ​ — ​ (21,358) ​ 217,294 Total Available-for-sale Securities ​ $ 394,213 ​ $ — ​ $ (36,637) ​ $ 357,576 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (Dollars in thousands) ​ Cost Gains (Losses) Value Held-to-maturity ​ ​ ​ ​ U.S. Treasuries ​ $ 6,000 ​ $ — ​ $ (150) ​ $ 5,850 U.S. government and federal agencies ​ 35,720 ​ — ​ (726) ​ 34,994 Collateralized mortgage obligations ​ 25,606 ​ — ​ (534) ​ 25,072 Taxable municipal ​ 6,089 ​ — ​ (194) ​ 5,895 Mortgage-backed ​ 32,094 ​ — ​ (647) ​ 31,447 Total Held-to-maturity Securities ​ $ 105,509 ​ $ — ​ $ (2,251) ​ $ 103,258 Available-for-sale ​ ​ ​ ​ U.S. Treasuries ​ $ 30,954 ​ $ — ​ $ (411) ​ $ 30,543 U.S. government and federal agencies ​ 34,803 ​ 258 ​ (524) ​ 34,537 Corporate bonds ​ 1,000 ​ 31 ​ — ​ 1,031 Collateralized mortgage obligations ​ 39,596 ​ 179 ​ (726) ​ 39,049 Tax-exempt municipal ​ 5,007 ​ 255 ​ — ​ 5,262 Taxable municipal ​ 1,653 ​ 37 ​ (5) ​ 1,685 Mortgage-backed ​ 127,287 ​ 1,232 ​ (1,326) ​ 127,193 Total Available-for-sale Securities ​ $ 240,300 ​ $ 1,992 ​ $ (2,992) ​ $ 239,300
Summary of amortized cost and fair value of securities available-for-sale	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (Dollars in thousands) ​ Cost Gains (Losses) Value Held-to-maturity ​ ​ ​ ​ U.S. Treasuries ​ $ 6,000 ​ $ — ​ $ (840) ​ $ 5,160 U.S. government and federal agencies ​ 35,551 ​ — ​ (6,135) ​ 29,416 Collateralized mortgage obligations ​ 21,275 ​ — ​ (4,227) ​ 17,048 Taxable municipal ​ 6,073 ​ — ​ (1,364) ​ 4,709 Mortgage-backed ​ 30,516 ​ — ​ (5,688) ​ 24,828 Total Held-to-maturity Securities ​ $ 99,415 ​ $ — ​ $ (18,254) ​ $ 81,161 Available-for-sale ​ ​ ​ ​ U.S. Treasuries ​ $ 63,480 ​ $ — ​ $ (4,270) ​ $ 59,210 U.S. government and federal agencies ​ 38,748 ​ — ​ (3,988) ​ 34,760 Corporate bonds ​ 3,000 ​ — ​ (386) ​ 2,614 Collateralized mortgage obligations ​ 44,732 ​ — ​ (6,258) ​ 38,474 Tax-exempt municipal ​ 4,993 ​ — ​ (348) ​ 4,645 Taxable municipal ​ 608 ​ — ​ (29) ​ 579 Mortgage-backed ​ 238,652 ​ — ​ (21,358) ​ 217,294 Total Available-for-sale Securities ​ $ 394,213 ​ $ — ​ $ (36,637) ​ $ 357,576 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (Dollars in thousands) ​ Cost Gains (Losses) Value Held-to-maturity ​ ​ ​ ​ U.S. Treasuries ​ $ 6,000 ​ $ — ​ $ (150) ​ $ 5,850 U.S. government and federal agencies ​ 35,720 ​ — ​ (726) ​ 34,994 Collateralized mortgage obligations ​ 25,606 ​ — ​ (534) ​ 25,072 Taxable municipal ​ 6,089 ​ — ​ (194) ​ 5,895 Mortgage-backed ​ 32,094 ​ — ​ (647) ​ 31,447 Total Held-to-maturity Securities ​ $ 105,509 ​ $ — ​ $ (2,251) ​ $ 103,258 Available-for-sale ​ ​ ​ ​ U.S. Treasuries ​ $ 30,954 ​ $ — ​ $ (411) ​ $ 30,543 U.S. government and federal agencies ​ 34,803 ​ 258 ​ (524) ​ 34,537 Corporate bonds ​ 1,000 ​ 31 ​ — ​ 1,031 Collateralized mortgage obligations ​ 39,596 ​ 179 ​ (726) ​ 39,049 Tax-exempt municipal ​ 5,007 ​ 255 ​ — ​ 5,262 Taxable municipal ​ 1,653 ​ 37 ​ (5) ​ 1,685 Mortgage-backed ​ 127,287 ​ 1,232 ​ (1,326) ​ 127,193 Total Available-for-sale Securities ​ $ 240,300 ​ $ 1,992 ​ $ (2,992) ​ $ 239,300 ​
Schedule of gross unrealized loss position of investments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Less than 12 Months ​ 12 Months or Longer ​ Total ​ ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) ​ Value ​ Losses ​ Value ​ Losses ​ Value ​ Losses Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasuries ​ $ — ​ $ — ​ $ 5,160 ​ $ (840) ​ $ 5,160 ​ $ (840) U.S. government and federal agencies ​ — ​ — ​ 29,416 ​ (6,135) ​ 29,416 ​ (6,135) Collateralized mortgage obligations ​ — ​ — ​ 17,048 ​ (4,227) ​ 17,048 ​ (4,227) Taxable municipal ​ — ​ — ​ 4,709 ​ (1,364) ​ 4,709 ​ (1,364) Mortgage-backed ​ 825 ​ (159) ​ 24,003 ​ (5,529) ​ 24,828 ​ (5,688) Total Held-to-maturity Securities ​ $ 825 ​ $ (159) ​ $ 80,336 ​ $ (18,095) ​ $ 81,161 ​ $ (18,254) Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasuries ​ $ 31,261 ​ $ (1,194) ​ $ 27,949 ​ $ (3,076) ​ $ 59,210 ​ $ (4,270) U.S. government and federal agencies ​ 16,107 ​ (1,078) ​ 18,653 ​ (2,910) ​ 34,760 ​ (3,988) Corporate bonds ​ 2,614 ​ (386) ​ — ​ — ​ 2,614 ​ (386) Collateralized mortgage obligations ​ 16,746 ​ (1,143) ​ 21,728 ​ (5,115) ​ 38,474 ​ (6,258) Tax-exempt municipal ​ 4,645 ​ (348) ​ — ​ — ​ 4,645 ​ (348) Taxable municipal ​ 337 ​ (2) ​ 242 ​ (27) ​ 579 ​ (29) Mortgage-backed ​ 145,795 ​ (9,612) ​ 71,499 ​ (11,746) ​ 217,294 ​ (21,358) Total Available-for-sale Securities ​ $ 217,505 ​ $ (13,763) ​ $ 140,071 ​ $ (22,874) ​ $ 357,576 ​ $ (36,637) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Less than 12 Months ​ 12 Months or Longer ​ Total ​ ​ ​ ​ Gross ​ ​ ​ Gross ​ ​ ​ ​ Gross ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized (Dollars in thousands) ​ Value Losses Value Losses Value Losses Held-to-maturity ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasuries ​ $ 5,851 ​ $ (150) ​ $ — ​ $ — ​ $ 5,851 ​ $ (150) U.S. government and federal agencies ​ 31,617 ​ (645) ​ 3,376 ​ (81) ​ 34,993 ​ (726) Collateralized mortgage obligations ​ 25,072 ​ (534) ​ — ​ — ​ 25,072 ​ (534) Taxable municipal ​ 3,971 ​ (133) ​ 1,923 ​ (61) ​ 5,894 ​ (194) Mortgage-backed ​ 27,995 ​ (573) ​ 3,452 ​ (74) ​ 31,447 ​ (647) Total Held-to-maturity Securities ​ $ 94,506 ​ $ (2,035) ​ $ 8,751 ​ $ (216) ​ $ 103,257 ​ $ (2,251) Available-for-sale ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasuries ​ $ 30,543 ​ $ (411) ​ $ — ​ $ — ​ $ 30,543 ​ $ (411) U.S. government and federal agencies ​ 14,154 ​ (301) ​ 6,877 ​ (223) ​ 21,031 ​ (524) Collateralized mortgage obligations ​ 30,352 ​ (726) ​ — ​ — ​ 30,352 ​ (726) Taxable municipal ​ 265 ​ (5) ​ — ​ — ​ 265 ​ (5) Mortgage-backed ​ 93,129 ​ (1,280) ​ 918 ​ (46) ​ 94,047 ​ (1,326) Total Available-for-sale Securities ​ $ 168,443 ​ $ (2,723) ​ $ 7,795 ​ $ (269) ​ $ 176,238 ​ $ (2,992) ​
Contractual maturities of investment securities	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Amortized ​ Fair (Dollars in thousands) Cost Value Held-to-maturity ​ ​ Due in one year or less ​ $ — ​ $ — Due after one year through five years ​ 5,208 ​ 4,474 Due after five years through ten years ​ 39,496 ​ 32,806 Due after ten years ​ 54,711 ​ 43,881 Total Held-to-maturity Securities ​ $ 99,415 ​ $ 81,161 Available-for-sale ​ ​ Due in one year or less ​ $ 1,929 ​ $ 1,899 Due after one year through five years ​ 104,037 ​ 96,292 Due after five years through ten years ​ 153,724 ​ 142,314 Due after ten years ​ 134,523 ​ 117,071 Total Available-for-sale Securities ​ $ 394,213 ​ $ 357,576 ​
Summary of restricted securities	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Federal Reserve Bank Stock ​ $ 3,292 ​ $ 3,275 Federal Home Loan Bank Stock ​ 1,073 ​ 1,616 Community Bankers’ Bank Stock ​ 60 ​ 60 Total Restricted Securities ​ $ 4,425 ​ $ 4,951 ​

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2022
Allowance for Loan Losses
Schedule of composition of the loan portfolio	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Real Estate Loans: ​ ​ ​ ​ Commercial ​ $ 1,118,127 ​ $ 968,442 Construction and land development ​ 195,027 ​ 231,090 Residential ​ ​ 426,841 ​ ​ 342,491 Commercial - Non-Real Estate: ​ ​ Commercial loans ​ 44,924 ​ 122,945 Consumer - Non-Real Estate: ​ ​ Consumer loans ​ 529 ​ 586 Total Gross Loans ​ $ 1,785,448 ​ $ 1,665,554 Allowance for loan losses ​ (20,208) ​ (20,032) Net deferred loan costs ​ 4,060 ​ 915 Total Net Loans ​ $ 1,769,300 ​ $ 1,646,437

Allowance for Loan Losses (Tabl

Allowance for Loan Losses (Tables)	12 Months Ended
	Dec. 31, 2022
Allowance for Loan Losses
Schedule of allowance for loan losses activity and balance	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ Commercial ​ Development ​ Residential ​ Commercial ​ Consumer ​ Unallocated ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Beginning Balance, December 31, 2021 ​ $ 13,091 ​ $ 2,824 ​ $ 2,769 ​ $ 711 ​ $ 5 ​ $ 632 ​ $ 20,032 Charge-offs ​ (1) ​ — ​ — ​ — ​ — ​ — ​ ​ (1) Recoveries ​ — ​ — ​ — ​ 2 ​ — ​ — ​ 2 Provision ​ 115 ​ 36 ​ 275 ​ (257) ​ — ​ 6 ​ 175 Ending Balance, December 31, 2022 ​ $ 13,205 ​ $ 2,860 ​ $ 3,044 ​ $ 456 ​ $ 5 ​ $ 638 ​ $ 20,208 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ Commercial ​ Development ​ Residential ​ Commercial ​ Consumer ​ Unallocated ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Beginning Balance, December 31, 2020 ​ $ 10,602 ​ $ 2,617 ​ $ 2,430 ​ $ 1,007 ​ $ 11 ​ $ 350 ​ $ 17,017 Charge-offs ​ (90) ​ — ​ — ​ (1) ​ — ​ — ​ ​ (91) Recoveries ​ — ​ — ​ — ​ 1 ​ — ​ — ​ 1 Provision ​ 2,579 ​ 207 ​ 339 ​ (296) ​ (6) ​ 282 ​ 3,105 Ending Balance, December 31, 2021 ​ $ 13,091 ​ $ 2,824 ​ $ 2,769 ​ $ 711 ​ $ 5 ​ $ 632 ​ $ 20,032 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ Commercial ​ Development ​ Residential ​ Commercial ​ Consumer ​ Unallocated ​ Total Allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Collectively evaluated for impairment ​ ​ 13,205 ​ ​ 2,860 ​ ​ 3,044 ​ ​ 456 ​ ​ 5 ​ ​ 638 ​ ​ 20,208 Total allowance ​ $ 13,205 ​ $ 2,860 ​ $ 3,044 ​ $ 456 ​ $ 5 ​ $ 638 ​ $ 20,208 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ 418 ​ $ — ​ $ — ​ $ — ​ $ 418 Collectively evaluated for impairment ​ ​ 1,118,127 ​ ​ 195,027 ​ ​ 426,423 ​ ​ 44,924 ​ ​ 529 ​ ​ — ​ ​ 1,785,030 Total loans ​ $ 1,118,127 ​ $ 195,027 ​ $ 426,841 ​ $ 44,924 ​ $ 529 ​ $ — ​ $ 1,785,448 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands ​ Commercial ​ Development ​ Residential ​ Commercial ​ Consumer ​ Unallocated ​ Total Allowance balance attributable to loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Collectively evaluated for impairment ​ ​ 13,091 ​ ​ 2,824 ​ ​ 2,769 ​ ​ 711 ​ ​ 5 ​ ​ 632 ​ ​ 20,032 Total allowance ​ $ 13,091 ​ $ 2,824 ​ $ 2,769 ​ $ 711 ​ $ 5 ​ $ 632 ​ $ 20,032 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans: ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ — ​ $ 549 ​ $ — ​ $ — ​ $ — ​ $ 549 Collectively evaluated for impairment ​ ​ 968,442 ​ ​ 231,090 ​ ​ 341,942 ​ ​ 122,945 ​ ​ 586 ​ ​ — ​ ​ 1,665,005 Total loans ​ $ 968,442 ​ $ 231,090 ​ $ 342,491 ​ $ 122,945 ​ $ 586 ​ $ — ​ $ 1,665,554 ​
Schedule of impaired loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Recorded ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid ​ Investment ​ Investment ​ Total ​ ​ ​ ​ Average ​ Interest ​ ​ Principal ​ with ​ with ​ Recorded ​ Related ​ Recorded ​ Income (Dollars in thousands) ​ Balance ​ No Allowance ​ Allowance ​ Investment ​ Allowance ​ Investment ​ Recognized Real Estate Loans ​ ​ ​ ​ ​ ​ ​ Commercial ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Construction and land development ​ — ​ — ​ — ​ — ​ — ​ — ​ — Residential ​ 418 ​ 418 ​ — ​ 418 ​ — ​ 427 ​ 15 Commercial ​ — ​ — ​ — ​ — ​ — ​ — ​ — Consumer ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total Impaired Loans ​ $ 418 ​ $ 418 ​ $ — ​ $ 418 ​ $ — ​ $ 427 ​ $ 15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Recorded ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid ​ Investment ​ Investment ​ Total ​ ​ ​ ​ Average ​ Interest ​ ​ Principal ​ with ​ with ​ Recorded ​ Related ​ Recorded ​ Income (Dollars in thousands) ​ Balance ​ No Allowance ​ Allowance ​ Investment ​ Allowance ​ Investment ​ Recognized Real Estate Loans ​ ​ ​ ​ ​ ​ ​ Commercial ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Construction and land development ​ — ​ — ​ — ​ — ​ — ​ — ​ — Residential ​ 549 ​ 549 ​ — ​ 549 ​ — ​ 569 ​ 24 Commercial ​ — ​ — ​ — ​ — ​ — ​ — ​ — Consumer ​ — ​ — ​ — ​ — ​ — ​ — ​ — Total Impaired Loans ​ $ 549 ​ $ 549 ​ $ — ​ $ 549 ​ $ — ​ $ 569 ​ $ 24 ​
Schedule of past due and non-accrual loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ 30-59 Days ​ 60-89 Days ​ 90 Days or ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days or More ​ ​ ​ ​ ​ Past ​ Past ​ More ​ Total Past ​ ​ ​ ​ Total ​ Past Due and ​ Nonaccrual (Dollars in thousands) Due Due Past Due Due Current Loans Still Accruing Loans Real Estate Loans ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,118,127 $ 1,118,127 ​ $ — ​ $ — Construction and land development ​ — ​ — ​ — ​ — ​ 195,027 ​ 195,027 ​ — ​ — Residential ​ — ​ — ​ — ​ — ​ 426,841 ​ 426,841 ​ — ​ — Commercial ​ — ​ — ​ — ​ — ​ 44,924 ​ 44,924 ​ — ​ — Consumer ​ — ​ — ​ — ​ — ​ 529 ​ 529 ​ — ​ — Total Loans ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,785,448 ​ $ 1,785,448 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ 30-59 Days ​ 60-89 Days ​ 90 Days or ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 Days or More ​ ​ ​ ​ ​ Past ​ Past ​ More ​ Total Past ​ ​ ​ ​ Total ​ Past Due and ​ Nonaccrual (Dollars in thousands) ​ Due Due Past Due Due Current Loans Still Accruing Loans Real Estate Loans ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 968,442 ​ $ 968,442 ​ $ — ​ $ — Construction and land development ​ — ​ — ​ — ​ — ​ 231,090 ​ 231,090 ​ — ​ — Residential ​ — ​ — ​ — ​ — ​ 342,491 ​ 342,491 ​ — ​ — Commercial ​ — ​ — ​ — ​ — ​ 122,945 ​ 122,945 ​ — ​ — Consumer ​ — ​ — ​ — ​ — ​ 586 ​ 586 ​ — ​ — Total Loans ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,665,554 ​ $ 1,665,554 ​ $ — ​ $ — ​
Schedule of credit quality information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total (Dollars in thousands) Pass Mention Substandard Doubtful Loss Loans Real Estate Loans ​ ​ ​ ​ ​ ​ Commercial ​ $ 1,116,890 ​ $ 1,237 ​ $ — ​ $ — ​ $ — ​ $ 1,118,127 Construction and land development ​ 192,877 ​ 2,150 ​ ​ — ​ — ​ — ​ 195,027 Residential ​ 426,841 ​ — ​ — ​ — ​ — ​ 426,841 Commercial ​ 44,924 ​ — ​ — ​ — ​ — ​ 44,924 Consumer ​ 529 ​ — ​ — ​ — ​ — ​ 529 Total Loans ​ $ 1,782,061 ​ $ 3,387 ​ $ — ​ $ — ​ $ — ​ $ 1,785,448 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total (Dollars in thousands) Pass Mention Substandard Doubtful Loss Loans Real Estate Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ $ 961,177 ​ $ 7,029 ​ $ 236 ​ $ — ​ $ — ​ $ 968,442 Construction and land development ​ 230,704 ​ — ​ 386 ​ — ​ — ​ 231,090 Residential ​ 342,377 ​ — ​ 114 ​ — ​ — ​ 342,491 Commercial ​ 122,945 ​ — ​ — ​ — ​ — ​ 122,945 Consumer ​ 586 ​ — ​ — ​ — ​ — ​ 586 Total Loans ​ $ 1,657,789 ​ $ 7,029 ​ $ 736 ​ $ — ​ $ — ​ $ 1,665,554 ​
Schedule of loan restructuring modification of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Pre-Modification ​ Post-Modification ​ ​ Number of ​ Outstanding Recorded ​ Outstanding Recorded (Dollars in thousands) Contracts Investment Investment Real Estate Loans ​ ​ ​ Commercial ​ $ — ​ $ — ​ $ — Construction and land development ​ — ​ — ​ — Residential ​ 1 ​ 115 ​ 113 Commercial ​ — ​ — ​ — Consumer ​ — ​ — ​ — Total Impaired Loans ​ $ — ​ $ — ​ $ — ​

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2022
Derivatives
Schedule of Company's swaps	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ ​ ​ Estimated ​ ​ Years ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional ​ ​ Fair ​ ​ to ​ ​ Receive ​ ​ Pay ​ (Dollars in thousands) ​ ​ Amount ​ ​ Value ​ ​ Maturity ​ ​ Rate ​ ​ Rate ​ Interest rate swap agreements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pay fixed/receive variable swaps ​ $ 13,767 ​ $ 1,217 ​ ​ 2.8 years ​ ​ 6.02 % ​ 2.59 % Pay variable/receive fixed swaps ​ ​ 13,767 ​ ​ (1,217) ​ ​ 2.8 years ​ ​ 2.59 % ​ 6.02 % Total interest rate swap agreements ​ $ 27,534 ​ $ — ​ ​ 2.8 years ​ ​ 4.31 % ​ 4.31 % ​

Bank Premises and Equipment, _2

Bank Premises and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Bank Premises and Equipment, Net
Summary of components of bank premises and equipment, net	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Leasehold improvements ​ $ 2,873 ​ $ 2,840 Furniture and equipment ​ 6,268 ​ 6,157 Total Bank Premises and Equipment ​ $ 9,141 ​ $ 8,997 Less: Accumulated depreciation ​ (7,922) ​ (7,377) Total Bank Premises and Equipment, Net ​ $ 1,219 ​ $ 1,620 ​

Deposits and Borrowings (Tables

Deposits and Borrowings (Tables)	12 Months Ended
	Dec. 31, 2022
Deposits and Borrowings
Schedule of deposits	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Deposits: ​ ​ Non-interest bearing demand deposits (1) ​ $ 476,697 ​ $ 488,838 Interest-bearing demand deposits (1) ​ 691,945 ​ 633,901 Savings deposits ​ 95,241 ​ 101,376 Time deposits (2) ​ 803,857 ​ 657,438 Total Deposits ​ $ 2,067,740 ​ $ 1,881,553
Schedule of long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 31, 2021 (Dollars in thousands) ​ Stated Interest Rates (3) ​ Weighted-Average Interest Rate (3) ​ Carrying Value ​ Carrying Value Long-term Debt: ​ ​ ​ Subordinated debt 5.25 % ​ 5.25 % $ 24,624 ​ $ 24,728 FHLB advances (4) ​ ​ ​ ​ ​ — ​ 18,000 Total Long-term Debt: ​ ​ ​ ​ ​ $ 24,624 ​ $ 42,728 (1) Overdraft demand deposits reclassified to loans totaled $1 thousand and $2 thousand at December 31, 2022 and December 31, 2021, respectively. (2) The aggregate amount of certificates of deposit with a minimum denomination of $250,000 was $318.7 million and $255.0 million at December 31, 2022 and December 31, 2021, respectively. (3) The stated interest rates and weighted-average interest rates are computed based on subordinated debt outstanding as of December 31, 2022. The subordinated debt outstanding as of December 31, 2022 bears interest at a fixed rate of 5.25% compared to the fixed rate of 5.75% paid on the subordinated debt outstanding as of December 31, 2021. (4) The Company’s Federal Home Loan Bank (“FHLB”) advances were called by the FHLB during the second quarter of 2022.
Schedule of carrying amount of the time deposits by contractual maturity	​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 2023 ​ $ 526,072 2024 ​ 231,404 2025 ​ 43,119 2026 ​ 2,343 2027 ​ 919 Thereafter ​ — Total ​ $ 803,857

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases
Summary of overview of leases	​ ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Lease liabilities ​ $ 4,858 ​ $ 5,182 ​ Right-of-use assets ​ 4,611 ​ 4,913 ​ Weighted average remaining lease term (years) ​ 4.08 years 4.07 years Weighted average discount rate ​ 2.62 % 2.25 % ​
Schedule of lease cost	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Operating lease cost ​ $ 1,469 ​ $ 1,496 Variable lease cost ​ — ​ — Short-term lease cost ​ — ​ — Total Lease Cost ​ $ 1,469 ​ $ 1,496 ​
Schedule of lease liability maturity	​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 2023 ​ $ 1,336 2024 ​ 1,226 2025 ​ 1,058 2026 ​ 887 2027 ​ 234 Thereafter ​ 447 Total Undiscounted Cash Flows ​ $ 5,188 Discount ​ (330) Lease Liabilities ​ $ 4,858 ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Deferred Tax Assets: ​ ​ Allowance for loan losses ​ $ 4,581 ​ $ 4,387 Lease liabilities ​ 1,101 ​ 1,135 Share-based compensation expense ​ 91 ​ 208 Unrealized losses on debt securities ​ 7,628 ​ 106 Other ​ 416 ​ 398 Total Deferred Tax Assets ​ $ 13,817 ​ $ 6,234 Deferred Tax Liabilities : ​ ​ Right-of-use assets ​ 1,045 ​ 1,076 Depreciation ​ 49 ​ 104 Net deferred loan costs ​ 920 ​ 200 Other ​ 62 ​ 41 Total Deferred Tax Liabilities ​ $ 2,076 ​ $ 1,421 Net Deferred Tax Assets ​ $ 11,741 ​ $ 4,813 ​
Schedule of provision for income taxes	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Current tax expense ​ $ 7,666 ​ $ 7,477 Deferred tax expense (benefit) ​ 594 ​ (678) Total Income Tax Expense ​ $ 8,260 ​ $ 6,799 ​
Schedule of income tax rate reconciliation	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Computed “expected” tax expense ​ $ 8,413 ​ $ 6,775 Increase (decrease) in income taxes resulting from: ​ ​ Bank-owned life insurance ​ (114) ​ (86) Tax-exempt interest income ​ (158) ​ (161) State income taxes, net of federal benefit ​ 516 ​ 444 Excess tax benefit on share-based compensation ​ (427) ​ (125) Other, net ​ 30 ​ (48) Total ​ $ 8,260 ​ $ 6,799

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies
Summary of the contract or notional amount of the Company's exposure to off-balance sheet risk	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Commitments to extend credit ​ $ 240,084 ​ $ 272,701 Standby letters of credit ​ $ 14,677 ​ $ 14,485 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Measurements
Summary of fair value of assets measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2022 Using ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ Significant ​ ​ ​ ​ ​ Active Markets for ​ Significant Other ​ Unobservable ​ ​ Balance as of ​ Identical Assets ​ Observable Inputs ​ Inputs (Dollars in thousands) December 31, 2022 (Level 1) (Level 2) (Level 3) Assets: ​ ​ ​ ​ Securities available-for-sale: ​ ​ ​ ​ U.S. Treasuries ​ $ 59,210 ​ $ — ​ $ 59,210 ​ $ — U.S. government and federal agencies ​ 34,760 ​ — ​ 34,760 ​ — Corporate bonds ​ 2,614 ​ — ​ 2,614 ​ — Collateralized mortgage obligations ​ 38,474 ​ — ​ 38,474 ​ — Tax-exempt municipal ​ 4,645 ​ — ​ 4,645 ​ — Taxable municipal ​ 579 ​ — ​ 579 ​ — Mortgage-backed ​ 217,294 ​ — ​ 217,294 ​ — Equity securities, at fair value ​ 2,115 ​ 2,115 ​ — ​ — Interest rate swap agreement ​ ​ 1,217 ​ ​ — ​ ​ 1,217 ​ ​ — Total assets at fair value ​ $ 360,908 ​ $ 2,115 ​ $ 358,793 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swap agreement ​ $ 1,217 ​ $ — ​ $ 1,217 ​ $ — Total liabilities at fair value ​ $ 1,217 ​ $ — ​ $ 1,217 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2021 Using ​ ​ ​ Quoted Prices in ​ ​ Significant ​ ​ ​ ​ ​ Active Markets for ​ Significant Other ​ Unobservable ​ ​ Balance as of ​ Identical Assets ​ Observable Inputs ​ Inputs (Dollars in thousands) ​ December 31, 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) Assets: ​ ​ ​ ​ ​ ​ ​ ​ Securities available-for-sale: ​ ​ ​ ​ ​ U.S. Treasuries ​ $ 30,543 ​ $ — ​ $ 30,543 ​ $ — U.S. government and federal agencies ​ ​ 34,537 ​ — ​ 34,537 ​ — Corporate bonds ​ 1,031 ​ — ​ 1,031 ​ — Collateralized mortgage obligations ​ 39,049 ​ — ​ 39,049 ​ — Tax-exempt municipal ​ 5,262 ​ — ​ 5,262 ​ — Taxable municipal ​ 1,685 ​ — ​ 1,685 ​ — Mortgage-backed ​ 127,193 ​ — ​ 127,193 ​ — Equity securities, at fair value ​ 1,869 ​ 1,869 ​ — ​ — Total assets at fair value ​ $ 241,169 ​ $ 1,869 ​ $ 239,300 ​ $ — ​
Summary of carrying value and estimated fair value of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2022 Using ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ ​ ​ ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ for Identical ​ Significant Other ​ Unobservable ​ ​ ​ ​ Carrying Value ​ Assets ​ Observable Inputs ​ Inputs ​ Fair Value as of (Dollars in thousands) ​ as of December 31, 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ December 31, 2022 Assets: ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 61,599 ​ $ 61,599 ​ $ — ​ $ — ​ $ 61,599 Securities: ​ ​ ​ ​ ​ Available-for-sale ​ 357,576 ​ — ​ 357,576 ​ — ​ 357,576 Held-to-maturity ​ 99,415 ​ — ​ 81,161 ​ — ​ 81,161 Equity securities, at fair value ​ 2,115 ​ 2,115 ​ — ​ — ​ 2,115 Restricted securities, at cost ​ ​ 4,425 ​ ​ — ​ ​ 4,425 ​ ​ — ​ ​ 4,425 Loans, net ​ 1,769,300 ​ — ​ — ​ 1,676,887 ​ 1,676,887 Interest rate swap agreement ​ ​ 1,217 ​ ​ — ​ ​ 1,217 ​ ​ — ​ ​ 1,217 Bank owned life insurance ​ 21,170 ​ — ​ 21,170 ​ — ​ 21,170 Accrued interest receivable ​ 5,531 ​ — ​ 5,531 ​ — ​ 5,531 Liabilities: ​ ​ ​ ​ ​ Deposits ​ $ 2,067,740 ​ $ — ​ $ 2,065,248 ​ $ — ​ $ 2,065,248 Subordinated debt ​ 24,624 ​ — ​ — ​ 22,457 ​ 22,457 Federal funds purchased ​ ​ 25,500 ​ ​ — ​ ​ 25,500 ​ ​ — ​ ​ 25,500 Interest rate swap agreement ​ ​ 1,217 ​ ​ — ​ ​ 1,217 ​ ​ — ​ ​ 1,217 Accrued interest payable ​ 1,035 ​ — ​ 1,035 ​ — ​ 1,035 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at December 31, 2021 Using ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ ​ ​ ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ for Identical ​ Significant Other ​ Unobservable ​ ​ ​ ​ ​ Carrying Value ​ Assets ​ Observable Inputs ​ Inputs ​ Fair Value as of (Dollars in thousands) ​ as of December 31, 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ December 31, 2021 Assets: ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 105,799 ​ $ 105,799 ​ $ — ​ $ — ​ $ 105,799 Securities: ​ ​ ​ ​ ​ Available-for-sale ​ 239,300 ​ — ​ 239,300 ​ — ​ 239,300 Held-to-maturity ​ ​ 105,509 ​ ​ — ​ 103,258 ​ — ​ 103,258 Equity securities, at fair value ​ 1,869 ​ 1,869 ​ — ​ — ​ 1,869 Restricted securities, at cost ​ ​ 4,951 ​ ​ — ​ ​ 4,951 ​ ​ — ​ ​ 4,951 Loans, net ​ 1,646,437 ​ — ​ — ​ 1,659,396 ​ 1,659,396 Bank owned life insurance ​ 20,998 ​ — ​ 20,998 ​ — ​ 20,998 Accrued interest receivable ​ 4,943 ​ — ​ 4,943 ​ — ​ 4,943 Liabilities: ​ ​ ​ ​ ​ Deposits ​ $ 1,881,553 ​ $ — ​ $ 1,882,132 ​ $ — ​ $ 1,882,132 FHLB advances ​ 18,000 ​ — ​ 17,837 ​ — ​ 17,837 Subordinated debt ​ 24,728 ​ — ​ — ​ 25,325 ​ 25,325 Accrued interest payable ​ 843 ​ — ​ 843 ​ — ​ 843

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings per Common Share
Schedule of computation of earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 31, 2021 Earnings per common share - basic: ​ ​ ​ Income available to common shareholders (in thousands): ​ ​ ​ Net income ​ $ 31,803 ​ $ 25,461 Less: Income attributable to unvested restricted stock awards ​ (136) ​ (119) Net income available to common shareholders ​ $ 31,667 ​ $ 25,342 ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding: ​ ​ Common shares outstanding, including unvested restricted stock ​ 13,991,875 ​ 13,645,600 Less: Unvested restricted stock ​ (60,034) ​ (64,014) Weighted-average common shares outstanding - basic ​ 13,931,841 ​ 13,581,586 ​ ​ ​ ​ ​ ​ ​ Earnings per common share - basic ​ $ 2.27 ​ $ 1.87 ​ ​ ​ ​ ​ ​ ​ Earnings per common share - diluted: ​ ​ Income available to common shareholders (in thousands): ​ ​ Net income ​ $ 31,803 ​ $ 25,461 Less: Income attributable to unvested restricted stock awards ​ (135) ​ (117) Net income available to common shareholders ​ $ 31,668 ​ $ 25,344 ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding: ​ ​ Common shares outstanding, including unvested restricted stock ​ 13,991,875 ​ 13,645,600 Less: Unvested restricted stock ​ (60,034) ​ (64,014) Plus: Effect of dilutive options ​ 152,586 ​ 298,009 Weighted-average common shares outstanding - diluted ​ 14,084,427 ​ 13,879,595 ​ ​ ​ ​ ​ ​ ​ Earnings per common share - diluted ​ $ 2.25 ​ $ 1.83 ​

Stock Based Compensation Plan (

Stock Based Compensation Plan (Tables)	12 Months Ended
	Dec. 31, 2022
Stock Based Compensation Plan
Summary of stock options activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ Weighted Average ​ Aggregate Intrinsic ​ Shares Exercise Price Value Outstanding at January 1, 2022 534,236 ​ $ 10.45 ​ Granted — ​ — ​ Exercised (340,649) ​ 9.74 ​ Forfeited or expired (3,653) ​ 8.79 ​ Outstanding at December 31, 2022 189,934 ​ 11.76 ​ $ 3,232,163 Exercisable at December 31, 2022 189,934 ​ $ 11.76 ​ $ 3,232,163 ​
Summary of stock options outstanding and exercisable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ Options Outstanding ​ Options Exercisable ​ ​ ​ ​ Weighted Average ​ ​ ​ Weighted Average ​ ​ ​ ​ Remaining ​ ​ ​ Remaining ​ ​ Number ​ Contractual Life ​ Number ​ Contractual Life Exercise Prices Outstanding in Years Exercisable in Years $0.00 - $11.00 187 0.04 187 0.04 $11.01 - $12.00 188,685 2.30 188,685 2.30 $12.01 - $13.00 1,062 1.98 1,062 1.98 Total 189,934 2.30 189,934 2.30 ​
Summary of restricted stock awards	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ Weighted Average ​ Shares Grant Date Fair Value Nonvested at January 1, 2022 75,826 ​ $ 17.25 Granted 24,423 ​ 27.44 Vested (42,561) ​ 17.18 Forfeited (2,503) ​ 17.66 Nonvested at December 31, 2022 55,185 ​ ​ 21.80 ​

Regulatory Capital (Tables)

Regulatory Capital (Tables)	12 Months Ended
	Dec. 31, 2022
Regulatory Capital
Schedule of compliance with regulatory capital requirements under banking regulations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Minimum To Be Well Capitalized ​ ​ Actual ​ Minimum Capital Requirement (1) ​ Under Prompt Corrective Action (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2022 ​ ​ ​ ​ Total capital (to risk weighted assets) ​ $ 283,471 15.6 % $ 190,798 10.5 % $ 181,712 10.0 % Tier 1 capital (to risk weighted assets) ​ 262,960 14.4 % 155,219 8.5 % 146,089 8.0 % Common equity tier 1 capital (to risk weighted assets) ​ 262,960 14.4 % 127,828 7.0 % 118,697 6.5 % Tier 1 capital (to average assets) ​ 262,960 11.3 % 93,083 4.0 % 116,354 5.0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ ​ ​ Total capital (to risk weighted assets) ​ $ 252,843 15.3 % $ 173,923 10.5 % $ 165,641 10.0 % Tier 1 capital (to risk weighted assets) ​ 232,458 14.0 % 140,795 8.5 % 132,513 8.0 % Common equity tier 1 capital (to risk weighted assets) ​ 232,458 14.0 % 115,948 7.0 % 107,666 6.5 % Tier 1 capital (to average assets) ​ 232,458 11.0 % 84,799 4.0 % 105,999 5.0 % (1) Including Capital Conservation Buffer

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue
Schedule of components of non-interest income	The following table shows the components of non-interest income for the years ended December 31, 2022 and December 31, 2021. Table 17.1: Components of Non-Interest Income ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Service charges on deposit accounts (1) ​ ​ ​ Overdrawn account fees ​ $ 88 ​ $ 76 Account service fees ​ 236 ​ 186 Other service charges and fees (1) ​ ​ Interchange income ​ 409 ​ 379 Other charges and fees ​ 247 ​ 98 Bank owned life insurance ​ 544 ​ 411 Gains on securities ​ — ​ 10 Net gains on premises and equipment (1) ​ — ​ 29 Insurance commissions (1) ​ 382 ​ 284 Other operating income (loss) (2) ​ (215) ​ 246 Total non-interest income ​ $ 1,691 ​ $ 1,719 (1) Income within the scope of ASC 606 – Revenue Recognition . (2) Includes other operating income (loss) within the scope of ASC 606 – Revenue Recognition amounting to $12 thousand for the year ended December 31, 2022. Includes other operating income (loss) of $127 thousand related to swap fee income on a back-to-back loan swap and a loss of $(354) thousand related to the fair value adjustment on equity securities carried at fair value for the year ended December 31, 2022, both of which are outside the scope of ASC 606. The equity securities consist of mutual funds held in a trust and were obtained for the purpose of economically hedging changes in the Company’s nonqualified deferred compensation liability. Includes other operating income (loss) within the scope of ASC 606 – Revenue Recognition of $52 thousand and a fair value adjustment gain of $194 thousand outside the scope of ASC 606 for the year ended December 31, 2021.

Other Operating Expenses (Table

Other Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2022
Other Operating Expenses
Schedule of components of other operating expenses	The following table shows the components of other operating expenses for the years ended December 31, 2022 and December 31, 2021. Table 18.1: Components of Other Operating Expenses ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Advertising expense ​ $ 193 ​ $ 395 Data processing ​ 1,940 ​ 1,471 FDIC insurance ​ 605 ​ 887 Professional fees ​ 1,231 ​ 1,418 State franchise tax ​ 2,092 ​ 1,849 Director costs ​ 810 ​ 797 Other operating expenses ​ 1,595 ​ 1,613 Total other operating expenses ​ $ 8,466 ​ $ 8,430

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss)
Schedule of changes in other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ ​ ​ ​ Unrealized Gains on ​ ​ ​ ​ ​ ​ ​ ​ Securities Transferred from ​ ​ ​ ​ ​ Unrealized Gain (Loss) on ​ Available-for-sale to ​ Accumulated Other (Dollars in thousands) Available-for-sale Securities Held-to-maturity Comprehensive Income (Loss) Beginning balance, January 1, 2022 ​ $ (789) ​ $ 389 ​ $ (400) Net change during the period ​ (28,153) ​ (144) ​ (28,297) Ending balance, December 31, 2022 ​ $ (28,942) ​ $ 245 ​ $ (28,697) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ Unrealized Gains on ​ ​ ​ ​ ​ ​ ​ ​ Securities Transferred from ​ ​ ​ ​ ​ Unrealized Gain (Loss) on ​ Available-for-sale to ​ Accumulated Other (Dollars in thousands) Available-for-sale Securities Held-to-maturity Comprehensive Income (Loss) Beginning balance, January 1, 2021 ​ $ 3,786 ​ $ — ​ $ 3,786 Net change during the period ​ (4,575) ​ 389 ​ (4,186) Ending balance, December 31, 2021 ​ $ (789) ​ $ 389 ​ $ (400) ​

Parent Company Financials (Tabl

Parent Company Financials (Tables)	12 Months Ended
	Dec. 31, 2022
Parent Company Financials
Summary of condensed balance sheets	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Assets ​ ​ Cash and due from banks ​ $ 3,588 ​ $ 1,591 Equity securities, at fair value ​ 2,115 ​ 1,869 Investment in subsidiary ​ 234,263 ​ 232,058 Other assets ​ 366 ​ 310 Total assets ​ $ 240,332 ​ $ 235,828 Liabilities and Shareholders’ Equity ​ ​ Subordinated debt, net of unamortized issuance costs ​ $ 24,624 ​ $ 24,728 Accrued interest payable ​ 715 ​ 659 Other liabilities ​ 2,193 ​ 1,971 Total liabilities ​ $ 27,532 ​ $ 27,358 Total shareholders’ equity ​ $ 212,800 ​ $ 208,470 Total liabilities and shareholders’ equity ​ $ 240,332 ​ $ 235,828 ​
Summary of condensed statements of income	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Income: ​ ​ ​ Other income (loss) ​ $ (354) ​ $ 194 Dividends from subsidiary ​ ​ 4,150 ​ ​ — Total income ​ 3,796 ​ 194 Expense: ​ ​ Subordinated debt interest expense ​ 1,810 ​ 1,487 Salaries and employee benefits ​ 292 ​ 958 Other operating expenses ​ 425 ​ 348 Total expense ​ 2,527 ​ 2,793 ​ ​ ​ ​ ​ ​ ​ Net income (loss) before income tax benefit and equity in undistributed earnings of subsidiary ​ 1,269 ​ (2,599) Income tax benefit ​ 605 ​ 546 Equity in undistributed earnings of subsidiary ​ 29,929 ​ 27,514 Net income ​ $ 31,803 ​ $ 25,461 ​
Summary of statements of cash flows	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2022 December 31, 2021 Cash Flows from Operating Activities ​ ​ ​ ​ ​ ​ Net income ​ $ 31,803 ​ $ 25,461 Adjustment to reconcile net income to net cash provided by (used in) operating activities: ​ ​ Equity in undistributed earnings of subsidiary ​ (29,929) ​ (27,514) Fair value adjustment on equity securities ​ 354 ​ (194) Amortization of debt issuance costs ​ 317 ​ 49 Deferred tax (benefit) ​ (54) ​ (157) Changes in assets and liabilities: ​ ​ (Increase) decrease in other assets ​ (2) ​ 98 Increase in other liabilities ​ 278 ​ 1,075 Net cash provided by (used in) operating activities ​ $ 2,767 ​ $ (1,182) Cash Flows from Investing Activities ​ ​ Purchase of equity securities ​ (600) ​ (708) Net cash (used in) investing activities ​ $ (600) ​ $ (708) Cash Flows from Financing Activities ​ ​ Issuance of common stock for share options exercised ​ 3,058 ​ 716 Repurchase of shares for tax withholding on share-based compensation ​ (8) ​ (162) Issuance of subordinated debt ​ ​ 24,579 ​ ​ — Repayment of subordinated debt ​ ​ (25,000) ​ ​ — Cash dividends paid ​ ​ (2,799) ​ ​ — Net cash provided by (used in) investing activities ​ $ (170) ​ $ 554 Net increase (decrease) in cash and cash equivalents ​ $ 1,997 ​ $ (1,336) Cash and cash equivalents, beginning of year ​ 1,591 ​ 2,927 Cash and cash equivalents, end of year ​ $ 3,588 ​ $ 1,591

Nature of Business and Summar_3

Nature of Business and Summary of Significant Accounting Policy - Restriction on Dividends (Details) $ in Millions	Dec. 31, 2022 USD ($)
Restriction on Dividends
Statutory accounting practices, statutory amount available for dividend payments without regulatory approval	$ 77.5

Nature of Business and Summar_4

Nature of Business and Summary of Significant Accounting Policy - Concentration of Credit Risk (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Loans and Finance Receivables | Credit Concentration Risk | Commercial real estate portfolio segment | Real estate loans
Concentration of Credit Risk
Concentration risk, percentage (as a percent)	97%	93%

Nature of Business and Summar_5

Nature of Business and Summary of Significant Accounting Policy - Bank Premises and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Minimum
Bank Premises and Equipment
Property, plant and equipment, useful life	3 years
Maximum
Bank Premises and Equipment
Property, plant and equipment, useful life	15 years

Nature of Business and Summar_6

Nature of Business and Summary of Significant Accounting Policy - Other Real Estate Owned (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Real Estate
Other real estate owned	$ 0	$ 0
Banking and Thrift, Other Disclosure
Mortgage loans in process of foreclosure, amount	$ 0	$ 0

Nature of Business and Summar_7

Nature of Business and Summary of Significant Accounting Policy - Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Unrecognized tax benefits	$ 0	$ 0

Nature of Business and Summar_8

Nature of Business and Summary of Significant Accounting Policy - Advertising Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Advertising Costs
Advertising expense	$ 193	$ 395

Nature of Business and Summar_9

Nature of Business and Summary of Significant Accounting Policy - Recent Accounting Pronouncements - General Information (Details) - Subsequent Event	Mar. 31, 2023	Jan. 01, 2023
Accounting Standards Update 2016-13
Recent Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted		true
Accounting Standards Update 2022-02
Recent Accounting Pronouncements
Change in Accounting Principle, Accounting Standards Update, Adopted	true

Nature of Business and Summa_10

Nature of Business and Summary of Significant Accounting Policy - Recent Accounting Pronouncements - Adjustments (Details) - USD ($) $ in Thousands	Jan. 01, 2023	Dec. 31, 2022	Dec. 31, 2021
Recent Accounting Pronouncements
Retained earnings		$ 146,630	$ 117,626
Cumulative Effect, Period of Adoption, Adjustment | Subsequent Event | Accounting Standards Update 2016-13
Recent Accounting Pronouncements
Retained earnings	$ (2,300)

Investment Securities - Amortiz

Investment Securities - Amortized Cost and Fair Value - Held-to-maturity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Securities Held-to-Maturity
Amortized cost	$ 99,415	$ 105,509
Gross unrealized (losses)	(18,254)	(2,251)
Securities held-to-maturity, fair value	81,161	103,258
U.S Treasuries
Securities Held-to-Maturity
Amortized cost	6,000	6,000
Gross unrealized (losses)	(840)	(150)
Securities held-to-maturity, fair value	5,160	5,850
U.S. government and federal agencies
Securities Held-to-Maturity
Amortized cost	35,551	35,720
Gross unrealized (losses)	(6,135)	(726)
Securities held-to-maturity, fair value	29,416	34,994
Collateralized mortgage obligations
Securities Held-to-Maturity
Amortized cost	21,275	25,606
Gross unrealized (losses)	(4,227)	(534)
Securities held-to-maturity, fair value	17,048	25,072
Taxable municipal
Securities Held-to-Maturity
Amortized cost	6,073	6,089
Gross unrealized (losses)	(1,364)	(194)
Securities held-to-maturity, fair value	4,709	5,895
Mortgage-backed
Securities Held-to-Maturity
Amortized cost	30,516	32,094
Gross unrealized (losses)	(5,688)	(647)
Securities held-to-maturity, fair value	$ 24,828	$ 31,447

Investment Securities - Amort_2

Investment Securities - Amortized Cost and Fair Value - Available-for-sale Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Securities Available-for-Sale
Amortized cost	$ 394,213	$ 240,300
Gross unrealized gains		1,992
Gross unrealized (losses)	(36,637)	(2,992)
Securities available-for-sale, at fair value	357,576	239,300
U.S Treasuries
Securities Available-for-Sale
Amortized cost	63,480	30,954
Gross unrealized (losses)	(4,270)	(411)
Securities available-for-sale, at fair value	59,210	30,543
U.S. government and federal agencies
Securities Available-for-Sale
Amortized cost	38,748	34,803
Gross unrealized gains		258
Gross unrealized (losses)	(3,988)	(524)
Securities available-for-sale, at fair value	34,760	34,537
Corporate bonds
Securities Available-for-Sale
Amortized cost	3,000	1,000
Gross unrealized gains		31
Gross unrealized (losses)	(386)
Securities available-for-sale, at fair value	2,614	1,031
Collateralized mortgage obligations
Securities Available-for-Sale
Amortized cost	44,732	39,596
Gross unrealized gains		179
Gross unrealized (losses)	(6,258)	(726)
Securities available-for-sale, at fair value	38,474	39,049
Tax-exempt municipal
Securities Available-for-Sale
Amortized cost	4,993	5,007
Gross unrealized gains		255
Gross unrealized (losses)	(348)
Securities available-for-sale, at fair value	4,645	5,262
Taxable municipal
Securities Available-for-Sale
Amortized cost	608	1,653
Gross unrealized gains		37
Gross unrealized (losses)	(29)	(5)
Securities available-for-sale, at fair value	579	1,685
Mortgage-backed
Securities Available-for-Sale
Amortized cost	238,652	127,287
Gross unrealized gains		1,232
Gross unrealized (losses)	(21,358)	(1,326)
Securities available-for-sale, at fair value	$ 217,294	$ 127,193

Investment Securities - Transfe

Investment Securities - Transfers (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Investment Securities
Transferred investment securities, carrying value	$ 99,000
Transferred investment securities, unrealized gain	$ 593

Investment Securities - Additio

Investment Securities - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Proceeds from Sale and Maturity of Held-to-Maturity Securities
Proceeds from sale of held-to-maturity securities	$ 0
Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale
Proceeds from sales of available-for-sale securities	0	$ 0
Debt Securities, Available-for-Sale, Realized Gain (Loss)
Debt securities, available-for-sale, realized gain (loss)	$ 0	$ 10

Investment Securities - Pledged

Investment Securities - Pledged Securities (Details) - Asset Pledged as Collateral without Right - Deposits - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Investment Securities
Marketable securities	$ 114.4	$ 78.6
Debt securities, available-for-sale and held-to-maturity, amortized cost	$ 128.7	$ 78.8

Investment Securities - Securit

Investment Securities - Securities in a Gross Unrealized Loss Position - Held-to-maturity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Held-to-maturity, Fair Value
Fair Value, Less than 12 Months	$ 825	$ 94,506
Fair Value, 12 Months or Longer	80,336	8,751
Fair Value	81,161	103,257
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	(159)	(2,035)
Gross Unrealized Losses, 12 Months or Longer	(18,095)	(216)
Gross Unrealized Losses	(18,254)	(2,251)
U.S Treasuries
Held-to-maturity, Fair Value
Fair Value, Less than 12 Months		5,851
Fair Value, 12 Months or Longer	5,160
Fair Value	5,160	5,851
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months		(150)
Gross Unrealized Losses, 12 Months or Longer	(840)
Gross Unrealized Losses	(840)	(150)
U.S. government and federal agencies
Held-to-maturity, Fair Value
Fair Value, Less than 12 Months		31,617
Fair Value, 12 Months or Longer	29,416	3,376
Fair Value	29,416	34,993
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months		(645)
Gross Unrealized Losses, 12 Months or Longer	(6,135)	(81)
Gross Unrealized Losses	(6,135)	(726)
Collateralized mortgage obligations
Held-to-maturity, Fair Value
Fair Value, Less than 12 Months		25,072
Fair Value, 12 Months or Longer	17,048
Fair Value	17,048	25,072
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months		(534)
Gross Unrealized Losses, 12 Months or Longer	(4,227)
Gross Unrealized Losses	(4,227)	(534)
Taxable municipal
Held-to-maturity, Fair Value
Fair Value, Less than 12 Months		3,971
Fair Value, 12 Months or Longer	4,709	1,923
Fair Value	4,709	5,894
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months		(133)
Gross Unrealized Losses, 12 Months or Longer	(1,364)	(61)
Gross Unrealized Losses	(1,364)	(194)
Mortgage-backed
Held-to-maturity, Fair Value
Fair Value, Less than 12 Months	825	27,995
Fair Value, 12 Months or Longer	24,003	3,452
Fair Value	24,828	31,447
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	(159)	(573)
Gross Unrealized Losses, 12 Months or Longer	(5,529)	(74)
Gross Unrealized Losses	$ (5,688)	$ (647)

Investment Securities - Secur_2

Investment Securities - Securities in a Gross Unrealized Loss Position - Available-for-sale Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Available-for-Sale, Fair Value
Fair Value, Less than 12 Months	$ 217,505	$ 168,443
Fair Value, 12 Months or Longer	140,071	7,795
Fair Value	357,576	176,238
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	(13,763)	(2,723)
Gross Unrealized Losses, 12 Months or Longer	(22,874)	(269)
Gross Unrealized Losses	(36,637)	(2,992)
U.S Treasuries
Available-for-Sale, Fair Value
Fair Value, Less than 12 Months	31,261	30,543
Fair Value, 12 Months or Longer	27,949
Fair Value	59,210	30,543
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	(1,194)	(411)
Gross Unrealized Losses, 12 Months or Longer	(3,076)
Gross Unrealized Losses	(4,270)	(411)
U.S. government and federal agencies
Available-for-Sale, Fair Value
Fair Value, Less than 12 Months	16,107	14,154
Fair Value, 12 Months or Longer	18,653	6,877
Fair Value	34,760	21,031
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	(1,078)	(301)
Gross Unrealized Losses, 12 Months or Longer	(2,910)	(223)
Gross Unrealized Losses	(3,988)	(524)
Corporate bonds
Available-for-Sale, Fair Value
Fair Value, Less than 12 Months	2,614
Fair Value	2,614
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	(386)
Gross Unrealized Losses	(386)
Collateralized mortgage obligations
Available-for-Sale, Fair Value
Fair Value, Less than 12 Months	16,746	30,352
Fair Value, 12 Months or Longer	21,728
Fair Value	38,474	30,352
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	(1,143)	(726)
Gross Unrealized Losses, 12 Months or Longer	(5,115)
Gross Unrealized Losses	(6,258)	(726)
Tax-exempt municipal
Available-for-Sale, Fair Value
Fair Value, Less than 12 Months	4,645
Fair Value	4,645
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	(348)
Gross Unrealized Losses	(348)
Taxable municipal
Available-for-Sale, Fair Value
Fair Value, Less than 12 Months	337	265
Fair Value, 12 Months or Longer	242
Fair Value	579	265
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	(2)	(5)
Gross Unrealized Losses, 12 Months or Longer	(27)
Gross Unrealized Losses	(29)	(5)
Mortgage-backed
Available-for-Sale, Fair Value
Fair Value, Less than 12 Months	145,795	93,129
Fair Value, 12 Months or Longer	71,499	918
Fair Value	217,294	94,047
Gross Unrealized Losses
Gross Unrealized Losses, Less than 12 Months	(9,612)	(1,280)
Gross Unrealized Losses, 12 Months or Longer	(11,746)	(46)
Gross Unrealized Losses	$ (21,358)	$ (1,326)

Investment Securities - Secur_3

Investment Securities - Securities in a Gross Unrealized Loss Position - Positions (Details) - position	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
U.S Treasuries
Investment Securities
Number of positions	31	15
U.S. government and federal agencies
Investment Securities
Number of positions	50	40
Collateralized mortgage obligations
Investment Securities
Number of positions	52	35
Municipal Securities
Investment Securities
Number of positions	14	8
Corporate bonds
Investment Securities
Number of positions	3
Mortgage-backed
Investment Securities
Number of positions	218	75

Investment Securities - Contrac

Investment Securities - Contractual Maturities of Investment Securities - Held-to-maturity Securities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Held-to-maturity, Amortized Cost
Due after one year through five years	$ 5,208
Due after five years through ten years	39,496
Due after ten years	54,711
Total Held-to-maturity Securities	99,415
Held-to-maturity, Fair Value
Due after one year through five years	4,474
Due after five years through ten years	32,806
Due after ten years	43,881
Total Held-to-maturity Securities	$ 81,161

Investment Securities - Contr_2

Investment Securities - Contractual Maturities of Investment Securities - Available-for-sale Securities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Available-for-sale, Amortized Cost
Due in one year or less	$ 1,929
Due after one year through five years	104,037
Due after five years through ten years	153,724
Due after ten years	134,523
Total Available-for-sale Securities	394,213
Available-for-sale, Fair Value
Due in one year or less	1,899
Due after one year through five years	96,292
Due after five years through ten years	142,314
Due after ten years	117,071
Total Available-for-sale Securities	$ 357,576

Investment Securities - Restric

Investment Securities - Restricted Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Investment Securities
Federal Reserve Bank Stock	$ 3,292	$ 3,275
Federal Home Loan Bank Stock	1,073	1,616
Community Bankers' Bank Stock	60	60
Total Restricted Securities	$ 4,425	$ 4,951

Investment Securities - Equity

Investment Securities - Equity Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Equity Securities
Equity securities with readily determinable fair values	$ 2,115	$ 1,869
Equity Securities, Realized Gain (Loss)
Gain (loss) on investments	$ (354)	$ 194

Loans (Details)

Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Gross Loans	$ 1,785,448	$ 1,665,554
Allowance for loan losses	(20,208)	(20,032)	$ (17,017)
Net deferred loan costs	4,060	915
Net loans	1,769,300	1,646,437
Real Estate Loans | Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Gross Loans	1,118,127	968,442
Allowance for loan losses	(13,205)	(13,091)	(10,602)
Real Estate Loans | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Gross Loans	195,027	231,090
Allowance for loan losses	(2,860)	(2,824)	(2,617)
Real Estate Loans | Residential Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Gross Loans	426,841	342,491
Allowance for loan losses	(3,044)	(2,769)	(2,430)
Commercial - Non-Real Estate | Construction and land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Gross Loans	44,924	122,945
Commercial - Non-Real Estate | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses	(456)	(711)	(1,007)
Consumer - Non-Real Estate | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Gross Loans	529	586
Allowance for loan losses	$ (5)	$ (5)	$ (11)

Allowance for Loan Losses - Add

Allowance for Loan Losses - Additional information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) loan contract	Dec. 31, 2021 USD ($) loan
Financing receivable, allowance for credit loss
Impaired loan balance	$ 418	$ 549
Number of contracts in TDR | contract	0
Number of modifications resulted in reduction in loan interest rate | loan		1
Recorded investment in TDR's	$ 418	$ 549
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | loan	0	0
Financing Receivable, Troubled Debt Restructuring, Number Of Contracts That Require Special Reserve | loan	0	0
Financing Receivable, Troubled Debt Restructuring, Additional Commitment To Disburse Funds	$ 0	$ 0
PPP loans | PPP Loan
Financing receivable, allowance for credit loss
Impaired loan balance	$ 136	$ 69,600

Allowance for Loan Losses - All

Allowance for Loan Losses - Allowance for loan losses activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	$ 20,032	$ 17,017
Charge-offs	(1)	(91)
Recoveries	2	1
Provision	175	3,105
Ending Balance	20,208	20,032
Unallocated
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	632	350
Provision	6	282
Ending Balance	638	632
Real Estate Loans | Residential Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	2,769	2,430
Provision	275	339
Ending Balance	3,044	2,769
Real Estate Loans | Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	13,091	10,602
Charge-offs	(1)	(90)
Provision	115	2,579
Ending Balance	13,205	13,091
Real Estate Loans | Construction and land development
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	2,824	2,617
Provision	36	207
Ending Balance	2,860	2,824
Commercial - Non-Real Estate | Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	711	1,007
Charge-offs		(1)
Recoveries	2	1
Provision	(257)	(296)
Ending Balance	456	711
Consumer - Non-Real Estate | Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	5	11
Provision		(6)
Ending Balance	$ 5	$ 5

Allowance for Loan Losses - Bal

Allowance for Loan Losses - Balance of allowance for loan losses (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Collectively evaluated for impairment	$ 20,208	$ 20,032
Total allowance	20,208	20,032	$ 17,017
Individually evaluated for impairment	418	549
Collectively evaluated for impairment	1,785,030	1,665,005
Total loans	1,785,448	1,665,554
Unallocated
Financing Receivable, Allowance for Credit Loss [Line Items]
Collectively evaluated for impairment	638	632
Total allowance	638	632	350
Real Estate Loans | Residential Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Collectively evaluated for impairment	3,044	2,769
Total allowance	3,044	2,769	2,430
Individually evaluated for impairment	418	549
Collectively evaluated for impairment	426,423	341,942
Total loans	426,841	342,491
Real Estate Loans | Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Collectively evaluated for impairment	13,205	13,091
Total allowance	13,205	13,091	10,602
Collectively evaluated for impairment	1,118,127	968,442
Total loans	1,118,127	968,442
Real Estate Loans | Construction and land development
Financing Receivable, Allowance for Credit Loss [Line Items]
Collectively evaluated for impairment	2,860	2,824
Total allowance	2,860	2,824	2,617
Collectively evaluated for impairment	195,027	231,090
Total loans	195,027	231,090
Commercial - Non-Real Estate | Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans		122,945
Commercial - Non-Real Estate | Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Collectively evaluated for impairment	456	711
Total allowance	456	711	1,007
Collectively evaluated for impairment	44,924	122,945
Total loans	44,924	122,945
Consumer - Non-Real Estate | Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Collectively evaluated for impairment	5	5
Total allowance	5	5	$ 11
Collectively evaluated for impairment	529	586
Total loans	$ 529	$ 586

Allowance for Loan Losses - Imp

Allowance for Loan Losses - Impaired loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	$ 418	$ 549
Recorded Investment with No Allowances	418	549
Total Recorded Investment	418	549
Average Recorded Investment	427	569
Interest Income Recognized	15	24
Real Estate Loans | Residential Real Estate
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	418	549
Recorded Investment with No Allowances	418	549
Total Recorded Investment	418	549
Average Recorded Investment	427	569
Interest Income Recognized	$ 15	$ 24

Allowance for Loan Losses - Pas

Allowance for Loan Losses - Past due and non-accrual loans (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financing receivable, past due
Current	$ 1,785,448	$ 1,665,554
Total loans	1,785,448	1,665,554
Residential Real Estate | Real Estate Loans
Financing receivable, past due
Current	426,841	342,491
Total loans	426,841	342,491
Commercial Real Estate | Real Estate Loans
Financing receivable, past due
Current	1,118,127	968,442
Total loans	1,118,127	968,442
Commercial Real Estate | Commercial - Non-Real Estate
Financing receivable, past due
Current		122,945
Total loans		122,945
Construction and land development | Real Estate Loans
Financing receivable, past due
Current	195,027	231,090
Total loans	195,027	231,090
Commercial | Commercial - Non-Real Estate
Financing receivable, past due
Current	44,924
Total loans	44,924	122,945
Consumer | Consumer - Non-Real Estate
Financing receivable, past due
Current	529	586
Total loans	$ 529	$ 586

Allowance for Loan Losses - Sch

Allowance for Loan Losses - Schedule of credit quality information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financing receivable, credit quality indicator
Total loans	$ 1,785,448	$ 1,665,554
Residential Real Estate | Real Estate Loans
Financing receivable, credit quality indicator
Total loans	426,841	342,491
Commercial Real Estate | Real Estate Loans
Financing receivable, credit quality indicator
Total loans	1,118,127	968,442
Commercial Real Estate | Commercial - Non-Real Estate
Financing receivable, credit quality indicator
Total loans		122,945
Construction and land development | Real Estate Loans
Financing receivable, credit quality indicator
Total loans	195,027	231,090
Commercial | Commercial - Non-Real Estate
Financing receivable, credit quality indicator
Total loans	44,924	122,945
Consumer | Consumer - Non-Real Estate
Financing receivable, credit quality indicator
Total loans	529	586
Pass
Financing receivable, credit quality indicator
Total loans	1,782,061	1,657,789
Pass | Residential Real Estate | Real Estate Loans
Financing receivable, credit quality indicator
Total loans	426,841	342,377
Pass | Commercial Real Estate | Real Estate Loans
Financing receivable, credit quality indicator
Total loans	1,116,890	961,177
Pass | Construction and land development | Real Estate Loans
Financing receivable, credit quality indicator
Total loans	192,877	230,704
Pass | Commercial | Commercial - Non-Real Estate
Financing receivable, credit quality indicator
Total loans	44,924	122,945
Pass | Consumer | Consumer - Non-Real Estate
Financing receivable, credit quality indicator
Total loans	529	586
Special Mention
Financing receivable, credit quality indicator
Total loans	3,387	7,029
Special Mention | Commercial Real Estate | Real Estate Loans
Financing receivable, credit quality indicator
Total loans	1,237	7,029
Special Mention | Construction and land development | Real Estate Loans
Financing receivable, credit quality indicator
Total loans	$ 2,150
Substandard
Financing receivable, credit quality indicator
Total loans		736
Substandard | Residential Real Estate | Real Estate Loans
Financing receivable, credit quality indicator
Total loans		114
Substandard | Commercial Real Estate | Real Estate Loans
Financing receivable, credit quality indicator
Total loans		236
Substandard | Construction and land development | Real Estate Loans
Financing receivable, credit quality indicator
Total loans		$ 386

Allowance for Loan Losses - S_2

Allowance for Loan Losses - Schedule of loan restructuring modification of loans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) contract
Financing receivable, troubled debt restructuring
Number of contracts in TDR | contract	0
Residential Real Estate | Real Estate Loans
Financing receivable, troubled debt restructuring
Number of contracts in TDR | contract	1
Pre-Modification Outstanding Recorded Investment | $	$ 115
Post-Modification Outstanding Recorded Investment | $	$ 113

Derivatives (Details)

Derivatives (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Interest Rate Swap
Derivatives
Notional amount	$ 27,534
Estimated fair value, assets		$ 0
Estimated fair value, (liabilities)		$ 0
Years to maturity	2 years 9 months 18 days
Derivative, average interest rate, net (as a percent)	4.31%
Pay fixed/receive variable swaps
Derivatives
Notional amount	$ 13,767
Estimated fair value, assets	$ 1,217
Years to maturity	2 years 9 months 18 days
Derivative, average variable interest rate (as a percent)	6.02%
Derivative, average fixed interest rate (as a percent)	2.59%
Pay variable/receive fixed swaps
Derivatives
Notional amount	$ 13,767
Estimated fair value, (liabilities)	$ (1,217)
Years to maturity	2 years 9 months 18 days
Derivative, average variable interest rate (as a percent)	6.02%
Derivative, average fixed interest rate (as a percent)	2.59%

Bank Premises and Equipment, _3

Bank Premises and Equipment, Net - Tabular Disclosure (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Bank Premises and Equipment, Net
Total Bank Premises and Equipment	$ 9,141	$ 8,997
Less: Accumulated depreciation	(7,922)	(7,377)
Total Bank Premises and Equipment, Net	1,219	1,620
Leasehold improvements
Bank Premises and Equipment, Net
Total Bank Premises and Equipment	2,873	2,840
Furniture and equipment
Bank Premises and Equipment, Net
Total Bank Premises and Equipment	$ 6,268	$ 6,157

Bank Premises and Equipment, _4

Bank Premises and Equipment, Net - Depreciation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Depreciation
Depreciation	$ 557	$ 814

Deposits and Borrowings - Depos

Deposits and Borrowings - Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deposits:
Non-interest bearing demand deposits	$ 476,697	$ 488,838
Interest-bearing demand deposits	691,945	633,901
Savings deposits	95,241	101,376
Time deposits	803,857	657,438
Total deposits	$ 2,067,740	$ 1,881,553

Deposits and Borrowings - Long-

Deposits and Borrowings - Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Carrying Value	$ 24,624	$ 42,728
Subordinated debt
Debt Instrument [Line Items]
Stated Interest Rates	5.25%	5.75%
Weighted-Average Interest Rate	5.25%
Carrying Value	$ 24,624	$ 24,728
FHLB advances
Debt Instrument [Line Items]
Carrying Value		$ 18,000

Deposits and Borrowings - Addit

Deposits and Borrowings - Additional Information (Details) $ in Thousands		12 Months Ended
	Jul. 15, 2022 USD ($)	Dec. 31, 2022 USD ($) customer	Dec. 31, 2021 USD ($)	Jun. 15, 2022 USD ($)
Debt instrument
Overdraft demand deposits reclassified to loans		$ 1	$ 2
Certificate of deposits		318,700	255,000
Brokered deposits		352,000	217,700
Reciprocal certificates of deposits		25,700	61,300
Reciprocal demand and money market deposit		$ 197,300	$ 209,600
Number of depositors representing five percent or more of total deposits | customer		0
Percentage of deposits exceed five or more		5%
Repayment of subordinated debt		$ 25,000
Total collateral under the blanket lien		363,400
Minimum
Debt instrument
Certificate of deposits		$ 250
Subordinated debt
Debt instrument
Face amount or Principal amount				$ 25,000
Stated Interest Rates		5.25%	5.75%
2017 Notes
Debt instrument
Repayment of subordinated debt	$ 25,000
Stated Interest Rates	5.75%
Federal Funds
Debt instrument
Federal home loan, advances, general debt obligations, unused funds		$ 105,000
Line of credit		25,500
Federal reserve bank advances
Debt instrument
Maximum borrowing capacity		24,900
Line of credit		0
Loans pledged		$ 34,100
Secured Overnight Financing Rate (SOFR) | Subordinated debt
Debt instrument
Stated Interest Rates		5.25%
Basis points		2.45%

Deposits and Borrowings - Time

Deposits and Borrowings - Time deposits and FHLB advances by contractual maturity (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Contractual maturity
2023	$ 526,072
2024	231,404
2025	43,119
2026	2,343
2027	919
Total	$ 803,857

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets and Liabilities, Lessee
Right of use assets	$ 4,611	$ 4,913
Operating Lease, Liability
Lease liabilities	$ 4,858	$ 5,182

Leases - Additional Information

Leases - Additional Information (Details)	Dec. 31, 2022	Dec. 31, 2021
Leases
Weighted average remaining lease term	4 years 29 days	4 years 25 days
Weighted average discount rate (as a percent)	2.62%	2.25%

Leases - Cost of Leases (Detail

Leases - Cost of Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Lease, Cost
Operating lease cost	$ 1,469	$ 1,496
Total Lease Cost	$ 1,469	$ 1,496

Leases - Cash Paid (Details)

Leases - Cash Paid (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash Flow, Operating Activities, Lessee
Cash paid for amounts included in measurement of lease liabilities	$ 1.5	$ 1.5

Leases - Lease Maturity Schedul

Leases - Lease Maturity Schedule (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Lessee, Operating Lease, Liability, to be Paid
2023	$ 1,336
2024	1,226
2025	1,058
2026	887
2027	234
Thereafter	447
Total Undiscounted Cash Flows	$ 5,188

Leases - Gross Difference (Deta

Leases - Gross Difference (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Lessee, Operating Lease, Liability, to be Paid, Gross Difference
Total Undiscounted Cash Flows	$ 5,188
Discount	(330)
Lease Liabilities	$ 4,858	$ 5,182

Leases - Rent Expense (Details)

Leases - Rent Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income and Expenses, Lessee
Rent expense	$ 1.6	$ 1.6

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets:
Allowance for loan losses	$ 4,581	$ 4,387
Lease liabilities	1,101	1,135
Share-based compensation expense	91	208
Unrealized losses on debt securities	7,628	106
Other	416	398
Total Deferred Tax Assets	13,817	6,234
Deferred Tax Liabilities:
Right-of-use assets	1,045	1,076
Depreciation	49	104
Net deferred loan costs	920	200
Other	62	41
Total Deferred Tax Liabilities	2,076	1,421
Net Deferred Tax Assets	$ 11,741	$ 4,813

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Current Income Tax Expense (Benefit), Continuing Operations
Current tax expense	$ 7,666	$ 7,477
Deferred Income Tax Expense (Benefit), Continuing Operations
Deferred tax expense (benefit)	594	(678)
Total Income Tax Expense	$ 8,260	$ 6,799

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Reconciliation
Computed "expected" tax expense	$ 8,413	$ 6,775
Bank-owned life insurance	(114)	(86)
Tax-exempt interest income	(158)	(161)
State income taxes, net of federal benefit	516	444
Excess tax benefit on share-based compensation	(427)	(125)
Other, net	30	(48)
Total Income Tax Expense	$ 8,260	$ 6,799

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Commitments to extend credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks, face amount	$ 240,084	$ 272,701
Standby letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off-balance sheet risks, face amount	$ 14,677	$ 14,485

Fair Value Measurements - Fair

Fair Value Measurements - Fair value of assets measured at fair value on a recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Securities available-for-sale:
Securities available-for-sale, at fair value	$ 357,576	$ 239,300
Equity securities, at fair value	2,115	1,869
U.S Treasuries
Securities available-for-sale:
Securities available-for-sale, at fair value	59,210	30,543
U.S. government and federal agencies
Securities available-for-sale:
Securities available-for-sale, at fair value	34,760	34,537
Corporate bonds
Securities available-for-sale:
Securities available-for-sale, at fair value	2,614	1,031
Collateralized mortgage obligations
Securities available-for-sale:
Securities available-for-sale, at fair value	38,474	39,049
Tax-exempt municipal
Securities available-for-sale:
Securities available-for-sale, at fair value	4,645	5,262
Taxable municipal
Securities available-for-sale:
Securities available-for-sale, at fair value	579	1,685
Mortgage-backed
Securities available-for-sale:
Securities available-for-sale, at fair value	217,294	127,193
Fair Value, Recurring
Securities available-for-sale:
Equity securities, at fair value	2,115	1,869
Total assets at fair value	360,908	241,169
Total liabilities at fair value	1,217
Fair Value, Recurring | Interest Rate Swap [Member]
Securities available-for-sale:
Derivative assets	1,217
Derivative liability	1,217
Fair Value, Recurring | U.S Treasuries
Securities available-for-sale:
Securities available-for-sale, at fair value	59,210	30,543
Fair Value, Recurring | U.S. government and federal agencies
Securities available-for-sale:
Securities available-for-sale, at fair value	34,760	34,537
Fair Value, Recurring | Corporate bonds
Securities available-for-sale:
Securities available-for-sale, at fair value	2,614	1,031
Fair Value, Recurring | Collateralized mortgage obligations
Securities available-for-sale:
Securities available-for-sale, at fair value	38,474	39,049
Fair Value, Recurring | Tax-exempt municipal
Securities available-for-sale:
Securities available-for-sale, at fair value	4,645	5,262
Fair Value, Recurring | Taxable municipal
Securities available-for-sale:
Securities available-for-sale, at fair value	579	1,685
Fair Value, Recurring | Mortgage-backed
Securities available-for-sale:
Securities available-for-sale, at fair value	217,294	127,193
Fair Value, Recurring | Fair Value, Inputs, Level 1
Securities available-for-sale:
Equity securities, at fair value	2,115	1,869
Total assets at fair value	2,115	1,869
Fair Value, Recurring | Fair Value, Inputs, Level 2
Securities available-for-sale:
Total assets at fair value	358,793	239,300
Total liabilities at fair value	1,217
Fair Value, Recurring | Fair Value, Inputs, Level 2 | Interest Rate Swap [Member]
Securities available-for-sale:
Derivative assets	1,217
Derivative liability	1,217
Fair Value, Recurring | Fair Value, Inputs, Level 2 | U.S Treasuries
Securities available-for-sale:
Securities available-for-sale, at fair value	59,210	30,543
Fair Value, Recurring | Fair Value, Inputs, Level 2 | U.S. government and federal agencies
Securities available-for-sale:
Securities available-for-sale, at fair value	34,760	34,537
Fair Value, Recurring | Fair Value, Inputs, Level 2 | Corporate bonds
Securities available-for-sale:
Securities available-for-sale, at fair value	2,614	1,031
Fair Value, Recurring | Fair Value, Inputs, Level 2 | Collateralized mortgage obligations
Securities available-for-sale:
Securities available-for-sale, at fair value	38,474	39,049
Fair Value, Recurring | Fair Value, Inputs, Level 2 | Tax-exempt municipal
Securities available-for-sale:
Securities available-for-sale, at fair value	4,645	5,262
Fair Value, Recurring | Fair Value, Inputs, Level 2 | Taxable municipal
Securities available-for-sale:
Securities available-for-sale, at fair value	579	1,685
Fair Value, Recurring | Fair Value, Inputs, Level 2 | Mortgage-backed
Securities available-for-sale:
Securities available-for-sale, at fair value	$ 217,294	$ 127,193

Fair Value Measurements - Carry

Fair Value Measurements - Carrying value and estimated fair value of financial instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Securities:
Available-for-sale	$ 357,576	$ 239,300
Equity securities, at fair value	2,115	1,869
Restricted securities, at cost	4,425	4,951
Carrying Value
Assets:
Cash and cash equivalents	61,599	105,799
Securities:
Available-for-sale	357,576	239,300
Held-to-maturity	99,415	105,509
Equity securities, at fair value	2,115	1,869
Restricted securities, at cost	4,425	4,951
Loans, net	1,769,300	1,646,437
Bank owned life insurance	21,170	20,998
Accrued interest receivable	5,531	4,943
Liabilities:
Deposits	2,067,740	1,881,553
FHLB advances		18,000
Subordinated debt	24,624	24,728
Federal funds purchased	25,500
Accrued interest payable	1,035	843
Carrying Value | Interest Rate Swap [Member]
Securities:
Derivative assets, at fair value	1,217
Liabilities:
Derivative liabilities, at fair value	1,217
Fair Value
Assets:
Cash and cash equivalents	61,599	105,799
Securities:
Available-for-sale	357,576	239,300
Held-to-maturity	81,161	103,258
Equity securities, at fair value	2,115	1,869
Restricted securities, at cost	4,425	4,951
Loans, net	1,676,887	1,659,396
Bank owned life insurance	21,170	20,998
Accrued interest receivable	5,531	4,943
Liabilities:
Deposits	2,065,248	1,882,132
FHLB advances		17,837
Subordinated debt	22,457	25,325
Federal funds purchased	25,500
Accrued interest payable	1,035	843
Fair Value | Interest Rate Swap [Member]
Securities:
Derivative assets, at fair value	1,217
Liabilities:
Derivative liabilities, at fair value	1,217
Fair Value, Inputs, Level 1 | Fair Value
Assets:
Cash and cash equivalents	61,599	105,799
Securities:
Equity securities, at fair value	2,115	1,869
Fair Value, Inputs, Level 2 | Fair Value
Securities:
Available-for-sale	357,576	239,300
Held-to-maturity	81,161	103,258
Restricted securities, at cost	4,425	4,951
Bank owned life insurance	21,170	20,998
Accrued interest receivable	5,531	4,943
Liabilities:
Deposits	2,065,248	1,882,132
FHLB advances		17,837
Federal funds purchased	25,500
Accrued interest payable	1,035	843
Fair Value, Inputs, Level 2 | Fair Value | Interest Rate Swap [Member]
Securities:
Derivative assets, at fair value	1,217
Liabilities:
Derivative liabilities, at fair value	1,217
Fair Value, Inputs, Level 3 | Fair Value
Securities:
Loans, net	1,676,887	1,659,396
Liabilities:
Subordinated debt	$ 22,457	$ 25,325

Fair Value Measurements - Addit

Fair Value Measurements - Additional information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value Measurements
Impaired loans with recorded reserve	$ 0	$ 0
Other real estate owned	$ 0	$ 0

Earnings per Common Share - Com

Earnings per Common Share - Computation of earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income available to common shareholders (in thousands):
Net income	$ 31,803	$ 25,461
Less: Income attributable to unvested restricted stock awards	(136)	(119)
Net income available to common shareholders	$ 31,667	$ 25,342
Weighted average shares outstanding:
Common shares outstanding, including unvested restricted stock	13,991,875	13,645,600
Less: Unvested restricted stock	(60,034)	(64,014)
Weighted-average common shares outstanding - basic	13,931,841	13,581,586
Earnings per common share - basic	$ 2.27	$ 1.87
Income available to common shareholders (in thousands):
Less: Income attributable to unvested restricted stock awards	$ (135)	$ (117)
Net income available to common shareholders	$ 31,668	$ 25,344
Weighted average shares outstanding:
Common shares outstanding, including unvested restricted stock	13,991,875	13,645,600
Less: Unvested restricted stock	(60,034)	(64,014)
Plus: Effect of dilutive options	152,586	298,009
Weighted-average common shares outstanding - diluted	14,084,427	13,879,595
Earnings per common share - diluted	$ 2.25	$ 1.83

Earnings per Common Share - Add

Earnings per Common Share - Additional information (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Stock options
Antidilutive securities excluded from computation of earnings per share
Antidilutive securities excluded from computation of earnings per share, amount	0	0

Stock Based Compensation Plan_2

Stock Based Compensation Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Apr. 28, 2015
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised	$ 4,600	$ 1,300
Share-based compensation expense		$ 11
Weighted average grant date fair value, granted		$ 18.67
Unrecognized share-based compensation expense	$ 0
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants	24,423
Share-based compensation expense	$ 573	$ 548
Weighted average grant date fair value, granted	$ 27.44
Fair value of vested shares	$ 1,100	$ 656
Unrecognized share-based compensation expense	$ 1,100
Recognition period	1 year 8 months 12 days
Restricted Stock Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term	2 years
Restricted Stock Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term	5 years
2015 Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance			976,211
Number of shares available for grant	300,640
Vesting term	5 years
Expiration term	10 years
2015 Plan | Stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price of stock expressed in fair value percentage	100%
2015 Plan | Stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award	10 years
2006 Plan | Stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized	1,490,700

Stock Based Compensation Plan -

Stock Based Compensation Plan - Summary of Stock Options Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Stock Based Compensation Plan
Options outstanding, beginning balance	534,236
Options granted	0	0
Options exercised	(340,649)
Options forfeited or expired	(3,653)
Options outstanding, ending balance	189,934	534,236
Options exercisable	189,934
Weighted average exercise price, beginning balance	$ 10.45
Weighted average exercise price, exercised	9.74
Weighted average exercise price, forfeited or expired	8.79
Weighted average exercise price, ending balance	11.76	$ 10.45
Weighted average exercise price, exercisable	$ 11.76
Aggregate intrinsic value outstanding	$ 3,232,163
Aggregate intrinsic value exercisable	$ 3,232,163

Stock Based Compensation Plan_3

Stock Based Compensation Plan - Summary of Stock Options Outstanding and Exercisable (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding	189,934	534,236
Options outstanding, weighted average remaining contractual life (in years)	2 years 3 months 18 days
Options exercisable	189,934
Options exercisable, weighted average remaining contractual life (in years)	2 years 3 months 18 days
$0.00 - $11.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range minimum rate	$ 0
Exercise price range maximum rate	$ 11
Options outstanding	187
Options outstanding, weighted average remaining contractual life (in years)	14 days
Options exercisable	187
Options exercisable, weighted average remaining contractual life (in years)	14 days
$11.01 - $12.00
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range minimum rate	$ 11.01
Exercise price range maximum rate	$ 12
Options outstanding	188,685
Options outstanding, weighted average remaining contractual life (in years)	2 years 3 months 18 days
Options exercisable	188,685
Options exercisable, weighted average remaining contractual life (in years)	2 years 3 months 18 days
12.01 - $18.16
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price range minimum rate	$ 12.01
Exercise price range maximum rate	$ 13
Options outstanding	1,062
Options outstanding, weighted average remaining contractual life (in years)	1 year 11 months 23 days
Options exercisable	1,062
Options exercisable, weighted average remaining contractual life (in years)	1 year 11 months 23 days

Stock Based Compensation Plan_4

Stock Based Compensation Plan - Summary of Restricted Stock Awards (Details) - Restricted Stock Awards	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares outstanding, beginning balance | shares	75,826
Nonvested shares, granted | shares	24,423
Nonvested shares, vested | shares	(42,561)
Nonvested shares, forfeited | shares	(2,503)
Nonvested shares outstanding, ending balance | shares	55,185
Weighted average grant date fair value outstanding, beginning balance | $ / shares	$ 17.25
Weighted average grant date fair value, granted | $ / shares	27.44
Weighted average grant date fair value, vested | $ / shares	17.18
Weighted average grant date fair value, forfeited | $ / shares	17.66
Weighted average grant date fair value, ending balance | $ / shares	$ 21.80

Employee Benefit Plans - Define

Employee Benefit Plans - Defined Contribution Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan
Discretionary contributions	$ 474	$ 495

Employee Benefit Plans - Deferr

Employee Benefit Plans - Deferred Compensation Arrangement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Deferred Compensation Arrangements
Deferred compensation liability	$ 1,900	$ 1,800
Expenses for discretionary contributions	$ 192	$ 497
Vesting term	3 years

Regulatory Capital (Details)

Regulatory Capital (Details)	Dec. 31, 2022
Regulatory Capital
Capital conservation buffer ratio	0.025
Capital conservation buffer ratio above minimum requirement	0.076

Regulatory Capital - Schedule o

Regulatory Capital - Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Details) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Total capital (to risk weighted assets)
Actual, Amount	$ 283,471	$ 252,843
Actual, Ratio	0.156	0.153
Minimum Capital Requirements, Amount	$ 190,798	$ 173,923
Minimum Capital Requirements, Ratio	0.105	0.105
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 181,712	$ 165,641
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.100	0.100
Tier 1 capital (to risk weighted assets)
Actual, Amount	$ 262,960	$ 232,458
Actual, Ratio	0.144	0.140
Minimum Capital Requirements, Amount	$ 155,219	$ 140,795
Minimum Capital Requirements, Ratio	0.085	0.085
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 146,089	$ 132,513
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.080	0.080
Common equity tier 1 capital (to risk weighted assets)
Actual, Amount	$ 262,960	$ 232,458
Actual, Ratio	0.144	0.140
Minimum Capital Requirements, Amount	$ 127,828	$ 115,948
Minimum Capital Requirements, Ratio	0.070	0.070
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 118,697	$ 107,666
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.065	0.065
Tier 1 capital (to average assets)
Actual, Amount	$ 262,960	$ 232,458
Actual, Ratio	0.113	0.110
Minimum Capital Requirements, Amount	$ 93,083	$ 84,799
Minimum Capital Requirements, Ratio	0.040	0.040
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 116,354	$ 105,999
Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.050	0.050

Revenue - Components of Non-int

Revenue - Components of Non-interest Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Service charges on deposit accounts and Other service charges and fees
Bank owned life insurance	$ 544	$ 411
Gains on securities		10
Other operating income (loss)	(215)	246
Total non-interest income	1,691	1,719
Overdrawn account fees
Service charges on deposit accounts and Other service charges and fees
Non-interest income	88	76
Account service fees
Service charges on deposit accounts and Other service charges and fees
Non-interest income	236	186
Interchange income
Service charges on deposit accounts and Other service charges and fees
Non-interest income	409	379
Other Charges and Fees
Service charges on deposit accounts and Other service charges and fees
Non-interest income	247	98
Premises And Equipment
Service charges on deposit accounts and Other service charges and fees
Non-interest income		29
Insurance Commissions
Service charges on deposit accounts and Other service charges and fees
Non-interest income	$ 382	$ 284

Revenue - Additional informatio

Revenue - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue
Other operating income (loss)	$ 12	$ 52
Gain (loss) on fair value of adjustment on equity securities	127	$ 194
Fair value adjustment on equity securities	$ (354)

Other Operating Expenses (Detai

Other Operating Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Other Operating Expenses
Advertising expense	$ 193	$ 395
Data processing	1,940	1,471
FDIC insurance	605	887
Professional fees	1,231	1,418
State franchise tax	2,092	1,849
Director costs	810	797
Other operating expenses	1,595	1,613
Total other operating expenses	$ 8,466	$ 8,430

Low Income Housing Tax Credit_2

Low Income Housing Tax Credit Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) fund	Dec. 31, 2021 USD ($)
Low Income Housing Tax Credit Investments
Number of housing equity funds | fund	7
Investments in funds recorded as other assets	$ 5,200	$ 5,800
Tax credits and other tax benefits recognized	94	77
Additional capital calls expected for funds included in other liabilities	$ 3,000	$ 3,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 208,470	$ 186,081
Net change during the period	(28,297)	(4,186)
Ending balance	212,800	208,470
Debt securities, available-for-sale, realized gain (loss)	0	10
Gain (loss) on available-for-sale securities, related tax	2
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(400)	3,786
Net change during the period	(28,297)	(4,186)
Ending balance	(28,697)	(400)
Unrealized Gain (Loss) on Available-for-sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(789)	3,786
Net change during the period	(28,153)	(4,575)
Ending balance	(28,942)	(789)
Unrealized Gains on Securities Transferred from Available-for-sale to Held-to-maturity
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	389
Net change during the period	(144)	389
Ending balance	$ 245	$ 389

Parent Company Financials - Con

Parent Company Financials - Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 6,583	$ 2,920
Equity securities, at fair value	2,115	1,869
Other assets	21,274	12,970
Total assets	2,348,235	2,149,309
Liabilities and Shareholders' Equity
Subordinated debt, net of unamortized issuance costs	24,624	24,728
Accrued interest payable	1,035	843
Other liabilities	11,678	10,533
Total liabilities	2,135,435	1,940,839
Total shareholders' equity	212,800	208,470	$ 186,081
Total liabilities and shareholders' equity	2,348,235	2,149,309
Parent Company
Assets
Cash and due from banks	3,588	1,591
Equity securities, at fair value	2,115	1,869
Investment in subsidiary	234,263	232,058
Other assets	366	310
Total assets	240,332	235,828
Liabilities and Shareholders' Equity
Subordinated debt, net of unamortized issuance costs	24,624	24,728
Accrued interest payable	715	659
Other liabilities	2,193	1,971
Total liabilities	27,532	27,358
Total shareholders' equity	212,800	208,470
Total liabilities and shareholders' equity	$ 240,332	$ 235,828

Parent Company Financials - C_2

Parent Company Financials - Condensed Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income:
Other operating income (loss)	$ (215)	$ 275
Total income	1,691	1,719
Expense:
Subordinated debt interest expense	1,810	1,487
Salaries and employee benefits	20,190	20,411
Other operating expenses	8,466	8,430
Total expense	31,874	32,262
Income tax benefit	8,260	6,799
Net income	31,803	25,461
Parent Company
Income:
Other operating income (loss)	(354)	194
Dividends from subsidiary	4,150
Total income	3,796	194
Expense:
Subordinated debt interest expense	1,810	1,487
Salaries and employee benefits	292	958
Other operating expenses	425	348
Total expense	2,527	2,793
Net income (loss) before income tax benefit and equity in undistributed earnings of subsidiary	1,269	(2,599)
Income tax benefit	605	546
Equity in undistributed earnings of subsidiary	29,929	27,514
Net income	$ 31,803	$ 25,461

Parent Company Financials - Sta

Parent Company Financials - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities
Net income	$ 31,803	$ 25,461
Adjustment to reconcile net income to net cash (used in) operating activities:
Fair value adjustment on equity securities	354	(194)
Amortization of debt issuance costs	317	49
Deferred tax expense (benefit)	594	(678)
Changes in assets and liabilities:
(Increase) decrease in other assets	(1,376)	861
Increase in other liabilities	(237)	591
Net cash provided by operating activities	33,155	32,354
Cash Flows from Investing Activities
Purchases of equity securities	(600)	(708)
Net cash (used in) investing activities	(270,872)	(302,999)
Cash Flows from Financing Activities
Issuance of common stock for share options exercised	3,058	716
Repurchase of shares for tax withholding on share-based compensation	(8)	(162)
Issuance of subordinated debt	24,579
Repayment of subordinated debt	25,000
Cash dividends paid	(2,799)
Net cash provided by investing activities	193,517	237,987
Net increase (decrease) in cash and cash equivalents	(44,200)	(32,658)
Cash and cash equivalents, beginning of period	105,799	138,457
Cash and cash equivalents, end of period	61,599	105,799
Parent Company [Member]
Cash Flows from Operating Activities
Net income	31,803	25,461
Adjustment to reconcile net income to net cash (used in) operating activities:
Equity in undistributed earnings of subsidiary	(29,929)	(27,514)
Fair value adjustment on equity securities	354	(194)
Amortization of debt issuance costs	317	49
Deferred tax expense (benefit)	(54)	(157)
Changes in assets and liabilities:
(Increase) decrease in other assets	(2)	98
Increase in other liabilities	278	1,075
Net cash provided by operating activities	2,767	(1,182)
Cash Flows from Investing Activities
Purchases of equity securities	(600)	(708)
Net cash (used in) investing activities	(600)	(708)
Cash Flows from Financing Activities
Issuance of common stock for share options exercised	3,058	716
Repurchase of shares for tax withholding on share-based compensation	(8)	(162)
Issuance of subordinated debt	24,579
Repayment of subordinated debt	(25,000)
Cash dividends paid	(2,799)
Net cash provided by investing activities	(170)	554
Net increase (decrease) in cash and cash equivalents	1,997	(1,336)
Cash and cash equivalents, beginning of period	1,591	2,927
Cash and cash equivalents, end of period	$ 3,588	$ 1,591

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Related Party Transactions
Loans	$ 15.4	$ 12
Principal additions	3.9
Principal payments	0.5
Deposits	$ 28.7	$ 35.4