Orange County Bancorp (OBT) 10-K 24 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. 13, 2023	Jun. 30, 2022
Document and Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Entity File Number	001-40711
Entity Registrant Name	ORANGE COUNTY BANCORP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-1135778
Entity Address, Address Line One	212 Dolson Avenue
Entity Address, City or Town	Middletown
Entity Address State Or Province	NY
Entity Address, Postal Zip Code	10940
City Area Code	845
Local Phone Number	341-5000
Title of 12(b) Security	Common Stock, Par Value $0.50 per Share
Trading Symbol	OBT
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	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 186.2
Entity Common Stock, Shares Outstanding		5,643,203
Entity Central Index Key	0001754226
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Crowe LLP
Auditor Location	Grand Rapids, Michigan
Auditor Firm ID	173

CONSOLIDATED STATEMENTS OF COND

CONSOLIDATED STATEMENTS OF CONDITION - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash and due from banks	$ 86,081	$ 306,179
Investment securities - available-for-sale	533,461	464,797
Restricted investment in bank stocks	9,562	2,217
Loans	1,569,430	1,291,428
Allowance for loan losses	(21,832)	(17,661)
Loans, net	1,547,598	1,273,767
Premises and equipment, net	14,739	14,601
Accrued interest receivable	6,320	6,643
Bank owned life insurance	40,463	39,513
Goodwill	5,359	5,359
Intangible assets	1,392	1,678
Other assets	42,359	27,829
TOTAL ASSETS	2,287,334	2,142,583
Deposits:
Noninterest bearing	723,228	701,645
Interest bearing	1,251,159	1,212,739
Total deposits	1,974,387	1,914,384
FHLB advances, short term	131,500
Note payable		3,000
Subordinated notes, net of issuance costs	19,447	19,376
Accrued expenses and other liabilities	23,862	22,987
TOTAL LIABILITIES	2,149,196	1,959,747
STOCKHOLDERS' EQUITY
Common stock, $0.50 par value; 15,000,000 shares authorized; 5,683,304 issued; 5,642,621 and 5,637,376 outstanding, at December 31, 2022 and December 31, 2021, respectively	2,842	2,842
Surplus	120,107	119,825
Retained Earnings	84,635	64,941
Accumulated other comprehensive income (loss), net of taxes	(68,196)	(3,443)
Treasury stock, at cost; 40,683 and 45,928 shares at December 31, 2022 and December 31, 2021, respectively	(1,250)	(1,329)
TOTAL STOCKHOLDERS' EQUITY	138,138	182,836
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 2,287,334	$ 2,142,583

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF CONDITION (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF CONDITION
Common stock, Par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, Authorized (in shares)	15,000,000	15,000,000
Common stock, Issued (in shares)	5,683,304	5,683,304
Common stock, Outstanding (in shares)	5,642,621	5,637,376
Treasury stock (in shares)	40,683	45,928

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
INTEREST INCOME
Interest and fees on loans	$ 69,327	$ 57,524
Interest on investment securities:
Taxable	9,871	4,901
Tax exempt	2,286	1,632
Interest on Federal funds sold and other	2,739	372
TOTAL INTEREST INCOME	84,223	64,429
INTEREST EXPENSE
Savings and NOW accounts	4,113	2,370
Time deposits	346	511
FHLB advances	599
Note payable	154	168
Subordinated notes	923	919
TOTAL INTEREST EXPENSE	6,135	3,968
NET INTEREST INCOME	78,088	60,461
Provision for loan losses	9,517	2,428
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	68,571	58,033
NONINTEREST INCOME
Service charges on deposit accounts	693	638
Trust income	4,764	4,788
Investment advisory income	4,537	4,853
Earnings on bank owned life insurance	950	793
Other	1,052	1,030
TOTAL NONINTEREST INCOME	11,996	12,102
NONINTEREST EXPENSE
Salaries	22,461	19,710
Employee benefits	5,579	3,257
Occupancy expense	4,467	4,058
Professional fees	4,066	3,649
Directors' fees and expenses	1,157	1,041
Computer software expense	4,803	5,168
FDIC assessment	1,411	1,198
Advertising expenses	1,601	1,220
Advisor expenses related to trust income	215	533
Telephone expenses	679	556
Intangible amortization	286	285
Other	3,565	2,783
TOTAL NONINTEREST EXPENSE	50,290	43,458
Income before income taxes	30,277	26,677
Provision for income taxes	5,914	5,390
NET INCOME	$ 24,363	$ 21,287
Basic earnings per share (in dollars per share)	$ 4.33	$ 4.28
Diluted earnings per share (in dollars per share)	$ 4.33	$ 4.28
Weighted average shares outstanding, Basic (in shares)	5,621,630	4,968,692
Weighted average shares outstanding, Diluted (in shares)	5,621,630	4,968,692

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net Income	$ 24,363	$ 21,287
Unrealized losses on securities:
Unrealized holding losses arising during the period	(75,137)	(7,620)
Tax effect	(15,779)	(1,599)
Net of tax	(59,358)	(6,021)
Defined benefit pension plans:
Net gain/(loss) arising during the period	(6,786)	1,002
Reclassification adjustment for amortization of prior service cost and net gains included in net periodic pension cost	(28)	(27)
Tax effect	(1,431)	204
Net of tax	(5,383)	771
Deferred compensation liability:
Unrealized loss	(15)	(16)
Tax effect	(3)	(4)
Net of tax	(12)	(12)
Total other comprehensive loss	(64,753)	(5,262)
Total comprehensive income/(loss)	$ (40,390)	$ 16,025

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Surplus	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Total
Beginning balance at Dec. 31, 2020	$ 2,266	$ 85,111	$ 47,683	$ 1,819	$ (1,456)	$ 135,423
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income			21,287			21,287
Other comprehensive loss, net of taxes				(5,262)		(5,262)
Cash dividends declared			(4,029)			(4,029)
Issue of restricted stock		(436)			436
Treasury stock purchased					(379)	(379)
Restricted stock expense		475				475
Stock-based compensation		(1)			70	69
Issuance of stock offering, net of costs	576	34,676				35,252
Ending balance at Dec. 31, 2021	2,842	119,825	64,941	(3,443)	(1,329)	182,836
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income			24,363			24,363
Other comprehensive loss, net of taxes				(64,753)		(64,753)
Cash dividends declared			(4,669)			(4,669)
Treasury stock purchased					(308)	(308)
Restricted stock expense		166				166
Issuance of stock offering, net of costs		116			387	503
Ending balance at Dec. 31, 2022	$ 2,842	$ 120,107	$ 84,635	$ (68,196)	$ (1,250)	$ 138,138

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Cash dividends declared per share	$ 0.83	$ 0.80
Restricted stock issued (in shares)		15,162
Treasury stock purchased (in shares)	7,652	13,292
Stock-based compensation (in shares)		2,404
Proceeds of common stock (in shares)	12,897	1,150,000

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	$ 24,363	$ 21,287
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	9,517	2,428
Depreciation	1,407	1,375
Accretion on loans	(3,598)	(5,590)
Amortization of intangibles	286	285
Amortization of subordinated notes issuance costs	71	69
Deferred income tax provision (benefit)	(958)	(403)
Restricted stock expense	166	475
Stock-based compensation	503	69
Net amortization of investment premiums	1,666	2,028
Earnings on bank owned life insurance	(950)	(793)
Net change in:
Accrued interest receivable	323	(349)
Other assets	(3,176)	(5,641)
Other liabilities	863	5,080
Net cash from operating activities	30,483	20,320
Cash flows from investing activities
Purchases of investment securities available-for-sale	(211,749)	(258,225)
Proceeds from paydowns of investment securities available-for-sale	57,648	84,275
Proceeds from maturities and calls of investment securities available-for-sale	8,634	29,608
Purchase of restricted investment in bank stocks	(12,098)	(783)
Proceeds from redemptions of restricted investment in bank stocks	4,752	15
Loans purchased		(8,232)
Net increase in loans	(279,749)	(125,806)
Purchase of premises and equipment	(1,545)	(1,959)
Purchase of bank owned life insurance		(10,200)
Net cash used by investing activities	(434,107)	(291,307)
Cash flows from financing activities
Net increase in deposits	60,003	425,090
Net change in FHLB overnight advances	131,500
Repayments of note payable	(3,000)
Proceeds of issuance of stock offering , net of costs		35,252
Cash dividends paid	(4,669)	(4,029)
Purchases of treasury stock	(308)	(379)
Net cash from financing activities	183,526	455,934
Net change in cash and cash equivalents	(220,098)	184,947
Beginning cash and cash equivalents	306,179	121,232
Ending cash and cash equivalents	86,081	306,179
Supplemental cash flow information:
Interest paid	6,118	4,025
Income taxes paid	7,255	3,715
Supplemental noncash disclosures:
Lease liabilities arising from obtaining right-of-use assets	$ 1,430	$ 993

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 1 — Summary of Significant Accounting Policies Nature of Operations and Principles of Consolidation: The Company provides commercial and consumer banking services to individuals, small businesses and local municipal governments as well as trust and investment services through the Bank and HVIA. The Company is headquartered in Middletown, New York, with eight locations in Orange County, New York, seven in Westchester County, New York, two in Rockland County, New York and one in Bronx County, New York. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are commercial real estate, commercial & industrial and residential mortgage loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial & industrial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. There are no significant concentrations of loans to any one industry or customer. However, the customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the areas in which they operate. Assets held by the Company in an agency or fiduciary capacity for its customers are excluded from the consolidated financial statements since they do not constitute assets of the Company. Assets held by the Company amounted to $1,272,498 and $1,325,894 at December 31, 2022 and 2021, respectively. Use of Estimates: To prepare financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. Cash Flows: Securities: Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. Loans: Interest income on loans is discontinued and placed on non-accrual status at the time the loan is 120 days (in the case of residential mortgage loans) or 90 days (in the case of commercial loans) delinquent unless the loan is well-secured and in process of collection. Loans are charged off to the extent principal or interest is deemed uncollectible. Secured consumer loans, except those secured by the borrower’s primary or secondary residence, are charged off upon becoming 180 days past due, or whenever collection is doubtful, whichever occurs first. All unsecured consumer loans are charged off when they become 180 days delinquent or if it is determined that the debt is uncollectible, whichever occurs first. Past-due status is based on the contractual terms of the loan. In all cases, loans are placed on non-accrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. Non-accrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. All interest accrued but not received for loans placed on non-accrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Under the cash-basis method, interest income is recorded when the payment is received in cash. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Concentration of Credit Risk: Allowance for Loan Losses: The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings (“TDRs”) and classified as impaired. 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. All criticized and classified consumer mortgages, commercial loans, and commercial real estate loans are reviewed to determine impairment status. Minimally, loans in which the borrower has filed bankruptcy; loans in non-accrual status; or loans that are considered TDRs would be considered impaired. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. A specific allocation within the allowance for loan losses is established for an impaired loan if its carrying value exceeds its estimated fair value. For commercial loans secured by real estate, estimated fair values of collateral are determined primarily through third-party appraisals. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the original appraisal and the condition of the property. Appraised values are discounted to arrive at the estimated selling price of the collateral, which is considered to be the estimated fair value. The discounts also include estimated costs to sell the property. For commercial and industrial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging reports, equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. TDRs are individually evaluated for impairment and included in the separately identified impairment disclosures. TDRs are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a TDR is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For TDRs that subsequently default, the Company determines the amount of the allowance on that loan in accordance with the accounting policy for the allowance for loan losses on loans individually identified as impaired. The Company incorporates recent historical experience related to TDRs including the performance of TDRs that subsequently default into the calculation of the allowance by loan portfolio segment. The general component covers loans that are collectively evaluated for impairment. Large groups of smaller balance homogeneous loans, such as consumer, are collectively evaluated for impairment, and accordingly, they are not included in the separately identified impairment disclosures. The general allowance component also includes loans that are not individually identified for impairment evaluation, such as those loans that are individually evaluated but are not considered impaired. The general component is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent 4 years. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans (including TDRs); levels of and trends in charge-offs and recoveries; migration of loans to the classification of special mention, substandard, or doubtful; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentration. In addition, federal regulatory agencies and the New York State Department of Financial Services, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses and may require the Bank to recognize additions to the allowance based on their judgments about information available to them at the time of their examination, which may not be currently available to management. The loan portfolio is segmented into commercial and industrial, commercial real estate, commercial real estate construction, residential real estate, home equity, and consumer loans. Commercial and Industrial Lending: Commercial and industrial loans are generally secured with short-term assets; however, in many cases, additional collateral such as real estate is provided as additional security for the loan. Loan-to-value maximum values have been established by the Bank and are specific to the type of collateral. Collateral values may be determined using invoices, inventory reports, accounts receivable aging reports, collateral appraisals, etc. In underwriting commercial and industrial loans, an analysis of the borrower’s character, capacity to repay the loan, the adequacy of the borrower’s capital and collateral as well as an evaluation of conditions affecting the borrower is performed. Analysis of the borrower’s past, present and future cash flows is also an important aspect of the Bank’s analysis. Commercial loans generally present a higher level of risk than other types of loans due primarily to the effect of general economic conditions. Commercial Real Estate Lending — In underwriting these loans, the Bank performs a thorough analysis of the financial condition of the borrower, the borrower’s credit history, and the reliability and predictability of the cash flow generated by the property securing the loan. Appraisals on properties securing commercial real estate loans originated by the Bank are performed by independent appraisers. Commercial real estate loans generally present a higher level of risk than other types of loans due primarily to the effect of general economic conditions. Commercial Real Estate Construction Lending: The Bank’s commercial real estate construction loans are generally secured with the subject property. Terms of construction loans depend on the specifics of the project such as estimated absorption rates, estimated time to complete, etc. In underwriting commercial real estate construction loans, the Bank performs a thorough analysis of the financial condition of the borrower, the borrower’s credit history, the reliability and predictability of the cash flow generated by the project using feasibility studies, market data, etc. Appraisals on properties securing commercial real estate construction loans originated by the Bank are performed by independent appraisers. Commercial real estate construction loans generally present a higher level of risk than other types of loans due primarily to the effect of general economic conditions and uncertainties of construction costs. Residential Real Estate Lending: The Bank offers fixed-rate loans with terms up to a maximum of 30 years for both permanent structures and those under construction. The Bank’s one- to four-family residential real estate loan originations are secured primarily by properties located in its primary market area and surrounding areas. The majority of the Bank’s residential real estate loans originate with a loan-to-value of 80% or less. Loans in excess of 80% are required to have private mortgage insurance. In underwriting one- to four-family residential real estate loans, the Bank evaluates both the borrower’s ability to make monthly payments and the value of the property securing the loan. Properties securing real estate loans made by the Bank are appraised by independent appraisers. The Bank generally requires borrowers to obtain an attorney’s title opinion or title insurance, and fire and property insurance (including flood insurance, if necessary) in an amount not less than the amount of the loan. The Bank has not engaged in sub- prime residential mortgage originations. Residential real estate loans generally present a lower level of risk than other types of loans because they are secured by the borrower’s primary residence. Home Equity Lending: Home equity lines and loans are secured by the borrower’s primary residence with a maximum loan-to-value of 85% and a maximum term of 15 years on home equity loans and a 10-year 15-year In underwriting home equity lines and loans, a thorough analysis of the borrower’s financial ability to repay the loan as agreed is performed. The ability to repay shall be determined by the borrower’s employment history, current financial conditions, and credit background. The analysis is based primarily on the customer’s ability to repay and secondarily on the collateral or security. Home equity lines and loans generally present a lower level of risk than other types of consumer loans because they are secured by the borrower’s primary residence. The subordinate nature of some home equity lines and loans may make these loans of higher risk than other residential real estate loans. Consumer Lending: Consumer loan terms vary according to the type and value of collateral and creditworthiness of the borrower. In underwriting consumer loans, a thorough analysis of the borrower’s financial ability to repay the loan as agreed is performed. The ability to repay shall be determined by the borrower’s employment history, current financial conditions, and credit background. Consumer loans may entail greater credit risk than do residential real estate loans particularly in the case of consumer loans which are unsecured or are secured by rapidly depreciable assets, such as automobiles or recreational equipment. In such cases, any repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance as a result of the greater likelihood of damage, loss or depreciation. In addition, consumer loan collections are dependent on the borrower’s continuing financial stability, and thus are more likely to be affected by adverse personal circumstances. Furthermore, the application of various federal and state laws, including bankruptcy and insolvency laws, may limit the amount which can be recovered on such loans. Transfers of Financial Assets: Foreclosed Assets: Premises and Equipment: Trust and Investment Advisory Income: Included in other assets on the balance sheet is a receivable for trust fees and advisory fees that have been earned but not yet collected. Federal Home Loan Bank (FHLB) Stock: Federal Reserve Bank (FRB) Stock: Bank Owned Life Insurance: The Bank has purchased life insurance policies on certain key executives. 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 other amounts due that are probable at settlement. Goodwill and Other Intangible Assets: Intangible assets consist of acquired customer relationship intangible assets arising from wealth management acquisitions and are amortized on a straight lined basis over their estimated useful lives. Loan Commitments and Related Financial Instruments: Stock-Based Compensation: Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company’s accounting policy is to recognize forfeitures as they occur. Income Taxes: A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in other expense. Retirement Plans: Earnings per Common Share: Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period. All outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends are considered participating securities for this calculation. As of December 31, 2022 and 2021, there are approximately in participating securities for these periods. Earnings and dividends per share are restated for any stock splits and stock dividends through the date of issuance of the financial statements. The Company currently maintains a simple capital structure, which includes restricted stock with participation rights to dividends, thus there are no dilutive effects on earnings per share. Comprehensive Income(Loss): changes in the funded status of the pension plan and deferred compensation, which are also recognized as separate components of equity. Loss Contingencies: Restrictions on Cash: Dividend Restriction: Fair Value of Financial Instruments: Segment Disclosure: Reclassifications: Recent Accounting Pronouncements: In June, 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses Topic 326: Measurement of Credit Losses on Financial Instruments. The objective of the ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date by replacing the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to form credit loss estimates. In November 2019, the FASB adopted changes to delay the effective date of ASU 2016-13 to January 2023 for certain entities, including certain Securities and Exchange Commission filers, public business entities, and private companies. As a result, the Company is eligible for the delay and will adopt CECL effective January 1, 2023. The Company has selected a third-party firm to assist in the development of a CECL model to assist in the calculation of the allowance for loan and lease losses in preparation for the change to the expected loss model. The Company has also engaged a third-party firm to perform a model validation of our CECL model. The Company is also in the process of updating its policies and internal controls accordingly. The Company expects to recognize a one-time cumulative-effect adjustment to our ALLL as of January 1, 2023, in order to bring our allowance for credit losses (ACL) into conformity with the ASU, consistent with regulatory expectations set forth in interagency guidance. The Company estimates that under the ACL framework, the allowance for loan losses will remain flat or increase by up to million, after tax, when compared to the amount being carried on the consolidated balance sheet at December 31, 2022. The Company expects the impact of the creation of an allowance for unfunded commitments to be an increase of up to an additional adjustment related to the securities portfolio. The Company is finalizing the assumptions built into its model as well as the related internal controls therein. This increase encompasses loans that the Company currently evaluates for impairment on an individual basis, loans evaluated collectively by pooled segment, and unfunded commitments made by the Company not currently carried on the balance sheet. Based on the composition and quality of the Company’s debt securities portfolio, management has determined there to be a zero loss estimate on securities that are backed by the U.S. governmental agencies.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2022
Investment Securities
Investment Securities	Note 2 — Investment Securities The amortized cost and fair value of investment securities at December 31, 2022 and 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Value Available-for-sale December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies and treasuries ​ $ 104,734 ​ $ 25 ​ $ (11,009) ​ $ 93,750 Mortgage-backed securities ​ 364,690 ​ 17 ​ (47,792) ​ ​ 316,915 Corporate Securities ​ 28,559 ​ — ​ (2,901) ​ ​ 25,658 Obligations of states and political subdivisions ​ 111,971 ​ 48 ​ (14,881) ​ ​ 97,138 Total debt securities ​ $ 609,954 ​ $ 90 ​ $ (76,583) ​ $ 533,461 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Value Available-for-sale December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies $ 80,596 $ 440 $ (1,330) $ 79,706 Mortgage-backed securities ​ 272,931 ​ 1,285 ​ (3,784) ​ 270,432 Corporate Securities ​ ​ 20,081 ​ ​ 278 ​ ​ (148) ​ ​ 20,211 Obligations of states and political subdivisions ​ 92,545 ​ 2,149 ​ (246) ​ 94,448 Total debt securities $ 466,153 $ 4,152 $ (5,508) $ 464,797 ​ There were no proceeds from sales of securities and associated gains and losses during 2022 and 2021. ​ The amortized cost and fair value of debt securities as of December 31, 2022 are shown by contractual maturity. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. ​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale ​ ​ Amortized ​ Fair ​ ​ Cost ​ Value Due in one year or less ​ $ 3,146 ​ $ 3,161 Due after one through five years ​ 26,075 ​ 25,112 Due after five through ten years ​ 70,970 ​ 62,609 Due after ten years ​ 145,073 ​ 125,664 ​ ​ 245,264 ​ 216,546 Mortgage-backed securities ​ 364,690 ​ 316,915 Total debt securities ​ $ 609,954 ​ $ 533,461 ​ Securities pledged at year-end 2022 and 2021 had a carrying amount of $323,674 and $233,907 and were pledged to secure public deposits. Mortgage-backed securities are issued by FNMA, FHLMC, or GNMA. Obligations of states and political subdivisions consist of general obligations of municipalities in the state of New York. At year-end 2022 and 2021, there were no holdings of securities of any one issuer, other than the US Government and its agencies, in an amount greater than 10% of shareholders’ equity. The following table summarizes securities with unrealized losses at December 31, 2022 and 2021, aggregated by major security types and length of time in continuous loss position: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ ​ Value ​ Losses ​ Value ​ Losses ​ Value ​ Losses Available-for-sale December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies and treasuries ​ $ 47,064 ​ $ (2,414) ​ $ 41,718 ​ $ (8,595) ​ $ 88,782 ​ $ (11,009) Mortgage-backed securities ​ 150,542 ​ (12,139) ​ 165,336 ​ (35,653) ​ 315,878 ​ (47,792) Corporate Securities ​ 12,503 ​ (1,007) ​ 13,155 ​ ​ (1,894) ​ ​ 25,658 ​ (2,901) Obligations of states and political subdivisions ​ 57,287 ​ (6,763) ​ 32,479 ​ (8,118) ​ 89,766 ​ (14,881) Total debt securities ​ $ 267,396 ​ $ (22,323) ​ $ 252,688 ​ $ (54,260) ​ $ 520,084 ​ $ (76,583) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ ​ Value ​ Losses ​ Value ​ Losses ​ Value ​ Losses Available-for-sale December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies ​ $ 10,337 ​ $ (121) ​ $ 32,210 ​ $ (1,209) ​ $ 42,547 ​ $ (1,330) Mortgage-backed securities ​ 177,506 ​ (3,273) ​ 14,134 ​ (511) ​ 191,640 ​ (3,784) Corporate Securities ​ ​ 9,354 ​ ​ (148) ​ ​ — ​ ​ — ​ ​ 9,354 ​ ​ (148) Obligations of states and political subdivisions ​ 13,349 ​ (138) ​ 3,298 ​ (108) ​ 16,647 ​ (246) Total debt securities ​ $ 210,546 ​ $ (3,680) ​ $ 49,642 ​ $ (1,828) ​ $ 260,188 ​ $ (5,508) ​ There was no other than temporary impairment loss recognized on any securities at December 31, 2022 or 2021. As of December 31, 2022, the Company’s security portfolio consisted of 296 securities, 264 of which were in an unrealized loss position. As of December 31, 2021, the Company’s security portfolio consisted of 252 securities, 78 of which were in an unrealized loss position. Unrealized losses are related to the Company’s mortgage backed and U.S. government agency securities as discussed below. At December 31, 2022, mortgage-backed securities held by the company were issued by U.S. government sponsored entities and agencies. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, and because the Company does not have the intent to sell these securities, and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other than temporarily impaired at December 31, 2022. The Company’s unrealized losses on U.S. government agency securities relate primarily to its investment in SBA issued securities. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, and because the Company does not have the intent to sell these securities, and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other than temporarily impaired at December 31, 2022. ​ At December 31, 2022, the company held various corporate securities within the investment portfolio. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, and because the Company does not have the intent to sell these securities, and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other than temporarily impaired at December 31, 2022. At December 31, 2022, the company held obligations of states and political subdivisions within the investment portfolio. This segment of the investment portfolio is comprised mainly of New York based municipalities and school systems. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, and because the Company does not have the intent to sell these securities, and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company does not consider these securities to be other than temporarily impaired at December 31, 2022. ​ ​ ​

Loans

Loans	12 Months Ended
	Dec. 31, 2022
Loans
Loans	Note 3 — Loans Loans at year-end were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ December 31, 2021 ​ Commercial and industrial ​ $ 258,901 ​ $ 268,508 ​ Commercial real estate ​ 1,098,054 ​ 852,707 ​ Commercial real estate construction ​ 109,570 ​ 72,250 ​ Residential real estate ​ 74,277 ​ 65,248 ​ Home equity ​ 12,329 ​ 13,638 ​ Consumer ​ 16,299 ​ 19,077 ​ Total ​ $ 1,569,430 ​ $ 1,291,428 ​ ​ Included in commercial and industrial loans as of December 31, 2022 and 2021 were PPP loans of $1.7 million and ​ ​ ​ ​ The following table presents the activity in the allowance for loan losses by portfolio segment for each of the years ending December 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2022 ​ ​ Commercial ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Commercial ​ Real Estate ​ Residential ​ Home ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Real Estate ​ Construction ​ Real Estate ​ Equity ​ Consumer ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 4,901 ​ $ 11,183 ​ $ 964 ​ $ 272 ​ $ 80 ​ $ 261 ​ $ 17,661 Provision for loan losses ​ ​ 5,505 ​ ​ 3,129 ​ ​ 288 ​ ​ 138 ​ ​ (17) ​ ​ 474 ​ 9,517 Charge-offs ​ ​ (4,962) ​ ​ — ​ ​ — ​ ​ (65) ​ ​ — ​ ​ (479) ​ (5,506) Recoveries ​ 66 ​ ​ 52 ​ ​ — ​ ​ — ​ ​ — ​ ​ 42 ​ 160 Ending balance ​ $ 5,510 ​ $ 14,364 ​ $ 1,252 ​ $ 345 ​ $ 63 ​ $ 298 ​ $ 21,832 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2021 ​ ​ Commercial ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Commercial ​ Real Estate ​ Residential ​ Home ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Real Estate ​ Construction ​ Real Estate ​ Equity ​ Consumer ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 4,795 ​ $ 9,782 ​ $ 801 ​ $ 381 ​ $ 77 ​ $ 336 ​ $ 16,172 Provision for loan losses ​ 828 ​ 1,326 ​ 163 ​ (98) ​ 3 ​ 206 ​ 2,428 Charge-offs ​ (942) ​ — ​ ​ — ​ (11) ​ — ​ (314) ​ (1,267) Recoveries ​ 220 ​ 75 ​ — ​ — ​ — ​ 33 ​ 328 Ending balance ​ $ 4,901 ​ $ 11,183 ​ $ 964 ​ $ 272 ​ $ 80 ​ $ 261 ​ $ 17,661 ​ The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Commercial ​ Real Estate ​ Residential ​ Home ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Real Estate ​ Construction ​ Real Estate ​ Equity ​ Consumer ​ Total December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending balance: ​ ​ ​ ​ ​ ​ ​ individually evaluated for impairment ​ $ 653 ​ $ 380 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,033 collectively evaluated for impairment ​ 4,857 ​ 13,984 ​ 1,252 ​ 345 ​ 63 ​ 298 ​ 20,799 Total ending allowance balance ​ $ 5,510 ​ $ 14,364 ​ $ 1,252 ​ $ 345 ​ $ 63 ​ $ 298 ​ $ 21,832 Loans: ​ ​ ​ ​ ​ ​ ​ Ending balance: ​ ​ ​ ​ ​ ​ ​ individually evaluated for impairment ​ $ 1,003 ​ $ 22,956 ​ $ — ​ $ 1,254 ​ $ 51 ​ $ 104 ​ $ 25,368 collectively evaluated for impairment ​ 257,898 ​ 1,075,098 ​ 109,570 ​ 73,023 ​ 12,278 ​ 16,195 ​ 1,544,062 Total ending loans balance ​ $ 258,901 ​ $ 1,098,054 ​ $ 109,570 ​ $ 74,277 ​ $ 12,329 ​ $ 16,299 ​ $ 1,569,430 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Commercial ​ Real Estate ​ Residential ​ Home ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Real Estate ​ Construction ​ Real Estate ​ Equity ​ Consumer ​ Total December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending balance: ​ ​ ​ ​ ​ ​ ​ individually evaluated for impairment ​ $ 137 ​ $ 1,272 ​ $ — ​ $ — ​ $ — ​ $ 24 ​ $ 1,433 collectively evaluated for impairment ​ 4,764 ​ 9,911 ​ 964 ​ 272 ​ 80 ​ 237 ​ 16,228 Total ending allowance balance ​ $ 4,901 ​ $ 11,183 ​ $ 964 ​ $ 272 ​ $ 80 ​ $ 261 ​ $ 17,661 Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ individually evaluated for impairment ​ $ 952 ​ $ 23,523 ​ $ — ​ $ 1,227 ​ $ 50 ​ $ 114 ​ $ 25,866 collectively evaluated for impairment ​ 267,556 ​ 829,184 ​ 72,250 ​ 64,021 ​ 13,588 ​ 18,963 ​ 1,265,562 Total ending loans balance ​ $ 268,508 ​ $ 852,707 ​ $ 72,250 ​ $ 65,248 ​ $ 13,638 ​ $ 19,077 ​ $ 1,291,428 ​ Included in the commercial and industrial loans collectively evaluated for impaired are PPP loans of $1.7 million and $38.1 million as of December 31, 2022 and 2021. PPP loans receivable are guaranteed by the SBA and have no allocation of the allowance for loan losses. The following table presents information related to impaired loans by class of loans as of and for the year ended December 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid ​ ​ Allowance for Average Interest Cash Basis ​ ​ Principal ​ Recorded ​ Loan Losses ​ Recorded ​ Income ​ Interest ​ ​ Balance ​ Investment ​ Allocated ​ Investment ​ Recognized ​ Recognized December 31, 2022 ​ ​ ​ ​ ​ ​ With no related allowance recorded ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Commercial real estate ​ 17,884 ​ 17,316 ​ — ​ 17,622 ​ 633 ​ 633 Commercial real estate construction ​ — ​ — ​ — ​ 578 ​ — ​ — Residential real estate ​ 1,266 ​ 1,254 ​ — ​ 739 ​ 20 ​ 20 Home equity ​ 55 ​ 51 ​ — ​ — ​ — ​ — Consumer ​ — ​ — ​ — ​ — ​ — ​ — Total ​ $ 19,205 ​ $ 18,621 ​ $ — ​ $ 18,939 ​ $ 653 ​ $ 653 With an allowance recorded: ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 1,011 ​ $ 1,003 ​ $ 653 ​ $ 7,516 ​ $ 209 ​ $ 209 Commercial real estate ​ 5,665 ​ 5,640 ​ 380 ​ 2,274 ​ 119 ​ 119 Commercial real estate construction ​ — ​ — ​ — ​ — ​ — ​ — Residential real estate ​ — ​ — ​ — ​ — ​ — ​ — Home equity ​ — ​ — ​ — ​ — ​ — ​ — Consumer ​ 104 ​ 104 ​ — ​ 109 ​ 6 ​ 6 Total ​ $ 6,780 ​ $ 6,747 ​ $ 1,033 ​ $ 9,899 ​ $ 334 ​ $ 334 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid ​ ​ Allowance for Average Interest Cash Basis ​ ​ Principal ​ Recorded ​ Loan Losses ​ Recorded ​ Income ​ Interest ​ ​ Balance ​ Investment ​ Allocated ​ Investment ​ Recognized ​ Recognized December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ With no related allowance recorded ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 1 ​ $ 1 ​ $ — ​ $ 187 ​ $ 11 ​ $ 11 Commercial real estate ​ 14,291 ​ 13,953 ​ — ​ 12,053 ​ 555 ​ 555 Commercial real estate construction ​ — ​ — ​ — ​ 578 ​ — ​ — Residential real estate ​ 1,155 ​ 1,155 ​ — ​ 639 ​ 33 ​ 33 Home equity ​ 50 ​ 50 ​ — ​ 25 ​ — ​ — Consumer ​ — ​ — ​ — ​ — ​ — ​ — Total ​ $ 15,497 ​ $ 15,159 ​ $ — ​ $ 13,482 ​ $ 599 ​ $ 599 With an allowance recorded: ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 951 ​ $ 951 ​ $ 137 ​ $ 1,420 ​ $ 82 ​ $ 82 Commercial real estate ​ 9,593 ​ 9,570 ​ 1,272 ​ 9,587 ​ 357 ​ 357 Commercial real estate construction ​ — ​ — ​ — ​ — ​ — ​ — Residential real estate ​ 84 ​ 72 ​ — ​ 76 ​ 3 ​ 3 Home equity ​ — ​ — ​ — ​ — ​ — ​ — Consumer ​ 114 ​ 114 ​ 24 ​ 119 ​ 6 ​ 6 Total ​ $ 10,742 ​ $ 10,707 ​ $ 1,433 ​ $ 11,202 ​ $ 448 ​ $ 448 ​ The following tables present the recorded investment in non-accrual and loans past due over 90 days still on accrual by class of loans as of December 31, 2022 and December 31, 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans Past Due Over 90 Days ​ ​ ​ Non-accrual ​ Still Accruing ​ ​ December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 ​ Commercial and industrial ​ $ 1,003 ​ $ — ​ $ 1,850 ​ $ 720 ​ Commercial real estate ​ 3,882 ​ 3,928 ​ — ​ 465 ​ Commercial real estate construction ​ — ​ — ​ — ​ — ​ Residential real estate ​ 1,188 ​ 578 ​ — ​ — ​ Home equity ​ 51 ​ 50 ​ — ​ — ​ Consumer ​ — ​ 4 ​ 477 ​ 208 ​ Total ​ $ 6,124 ​ $ 4,560 ​ $ 2,327 ​ $ 1,393 ​ ​ The following table presents the aging of the recorded investment in past-due loans as of December 31, 2022 and 2021 by class of loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30-59 Days 60-89 Days Greater Than Total Loans ​ ​ Past Due ​ Past Due ​ 90 Days ​ Past Due ​ Not Past Due December 31, 2022 ​ ​ ​ ​ ​ Commercial and industrial ​ $ 1,497 ​ $ 1,583 ​ $ 2,854 ​ $ 5,934 ​ $ 252,967 Commercial real estate ​ 563 ​ — ​ 952 ​ 1,515 ​ 1,096,539 Commercial real estate construction ​ — ​ — ​ — ​ — ​ 109,570 Residential real estate ​ 2 ​ — ​ 1,188 ​ 1,190 ​ 73,087 Home equity ​ — ​ — ​ — ​ — ​ 12,329 Consumer ​ 584 ​ 634 ​ 476 ​ 1,694 ​ 14,605 Total ​ $ 2,646 ​ $ 2,217 ​ $ 5,470 ​ $ 10,333 ​ $ 1,559,097 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30-59 Days 60-89 Days Greater Than Total Loans ​ ​ Past Due ​ Past Due ​ 90 Days ​ Past Due ​ Not Past Due December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 541 ​ $ 1,519 ​ $ 720 ​ $ 2,780 ​ $ 265,728 Commercial real estate ​ — ​ 2,873 ​ 1,161 ​ 4,034 ​ 848,673 Commercial real estate construction ​ — ​ — ​ — ​ — ​ 72,250 Residential real estate ​ 26 ​ — ​ 578 ​ 604 ​ 64,644 Home equity ​ — ​ 58 ​ 50 ​ 108 ​ 13,530 Consumer ​ 1,134 ​ 292 ​ 212 ​ 1,638 ​ 17,439 Total ​ $ 1,701 ​ $ 4,742 ​ $ 2,721 ​ $ 9,164 ​ $ 1,282,264 ​ As of December 31, 2022, loans in the process of foreclosure were $2,016 of which $578 were secured by residential real estate. As of December 31, 2021, loans in the process of foreclosure were $2,024 of which $578 were secured by residential real estate. Troubled Debt Restructuring: As of December 31, 2022 and 2021, the Company has a recorded investment in TDRs of $14,068 and $14,500 respectively. The Company has allocated $173 and $687 of specific allowance for these loans at December 31, 2022 and 2021, respectively, and there were no commitments to lend additional funds to borrowers whose loans were classified as TDRs. There were no restructured loans that defaulted within twelve months of restructure during 2022 or 2021. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. There were no loans whose terms were modified resulting in TDRs during the year ending December 31, 2022 and 2021. Credit Quality Indicators: Special Mention . Substandard . Doubtful. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass-rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Mention ​ Substandard ​ Doubtful ​ Loss ​ Total December 31, 2022 ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 256,939 ​ $ 575 ​ $ 1,387 ​ $ — ​ $ — ​ $ 258,901 Commercial real estate ​ 1,074,952 ​ 7,399 ​ 15,703 ​ — ​ — ​ 1,098,054 Commercial real estate construction ​ 109,570 ​ — ​ — ​ — ​ — ​ 109,570 Residential real estate ​ 73,089 ​ — ​ 1,188 ​ — ​ — ​ 74,277 Home equity ​ 12,278 ​ — ​ 51 ​ — ​ — ​ 12,329 Consumer ​ 16,195 ​ — ​ 104 ​ — ​ — ​ 16,299 Total ​ $ 1,543,023 ​ $ 7,974 ​ $ 18,433 ​ $ — ​ $ — ​ $ 1,569,430 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Mention ​ Substandard ​ Doubtful ​ Loss ​ Total December 31, 2021 ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 252,268 ​ $ 4,156 ​ $ 12,084 ​ $ — ​ $ — ​ $ 268,508 Commercial real estate ​ 835,787 ​ 679 ​ 16,241 ​ — ​ — ​ 852,707 Commercial real estate construction ​ 72,250 ​ — ​ — ​ — ​ — ​ 72,250 Residential real estate ​ 64,094 ​ — ​ 1,154 ​ — ​ — ​ 65,248 Home equity ​ 13,588 ​ 50 ​ — ​ — ​ — ​ 13,638 Consumer ​ 18,963 ​ — ​ 114 ​ — ​ — ​ 19,077 Total ​ $ 1,256,950 ​ $ 4,885 ​ $ 29,593 ​ $ — ​ $ — ​ $ 1,291,428 ​ Loans to certain directors and principal officers of the Company, including their immediate families and companies in which they are affiliated, had the following activity for the years ended December 31, 2022 and 2021 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Balance, beginning of year ​ $ 5,076 ​ $ 5,392 Additions ​ 11,876 ​ — Repayments ​ (61) ​ (316) Balance, end of year ​ $ 16,891 ​ $ 5,076 ​

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2022
Fair Value
Fair Value	Note 4 — Fair Value Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1 Level 2 Level 3 The Company used the following methods and significant assumptions to estimate fair value: Investment Securities: Impaired Loans and Other Real Estate Owned: Appraisals are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by a third-party appraisal management company that the Company has engaged in accordance with internal vendor management policies and approval of the Company’s Board of Directors. Once received, the appraisal review function is conducted by the appraisal management company and consists of a review of the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Through this review, the appraisal management company evaluates the validity of the appraised value and the strength of the conclusions; which are subsequently confirmed by a member of the Credit Department. Discounts to the appraised value are then applied to recognize the carrying costs incurred until disposition, realtor fees, deterioration in the quality of the asset, and the age of the appraisal. The net effect of these adjustments were included in the charge-off to the allowance upon acquisition of the foreclosed property and/or upon partial charge-off of the impaired loan. The most recent analysis of property appraisals including the appropriate discount rates are incorporated into the allowance methodology for the respective loan portfolio segments. Assets and liabilities measured at fair value on a recurring basis, are summarized below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using: ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Significant Other ​ Significant ​ ​ Total at ​ for Identical ​ Observable ​ Unobservable ​ ​ December 31, ​ Assets ​ Inputs ​ Inputs ​ ​ 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) U.S. government agencies and treasuries $ 93,750 ​ $ — ​ $ 93,750 ​ $ — Mortgage-backed securities ​ 316,915 ​ — ​ 316,915 ​ — Corporate securities ​ 25,658 ​ — ​ 25,658 ​ — Obligations of states and political subdivisions ​ 97,138 ​ — ​ 97,138 ​ — Total securities available-for-sale ​ $ 533,461 ​ $ — ​ $ 533,461 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using: ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Significant Other ​ Significant ​ ​ Total at ​ for Identical ​ Observable ​ Unobservable ​ ​ December 31, ​ Assets ​ Inputs ​ Inputs ​ ​ 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) U.S. government agencies ​ 79,706 ​ $ — ​ $ 79,706 ​ $ — Mortgage-backed securities ​ 270,432 ​ — ​ 270,432 ​ — Corporate securities ​ ​ 20,211 ​ ​ — ​ ​ 20,211 ​ ​ — Obligations of states and political subdivisions ​ 94,448 ​ — ​ 94,448 ​ — Total securities available-for-sale ​ $ 464,797 ​ $ — ​ $ 464,797 ​ $ — ​ There were no transfers between Level 1 and Level 2 during 2022 or 2021. Assets measured at fair value on a non-recurring basis as of December 31, 2022 and 2021 are summarized below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using: ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Significant Other ​ Significant ​ ​ Total at ​ for Identical ​ Observable ​ Unobservable ​ ​ December 31, ​ Assets ​ Inputs ​ Inputs ​ ​ 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) Impaired loans ​ $ 204 ​ $ — ​ $ — ​ $ 204 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using: ​ ​ ​ ​ ​ Quoted Prices ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Other ​ Significant ​ ​ Total at ​ Markets for ​ Observable ​ Unobservable ​ December 31, 2021 Identical Assets Inputs Inputs ​ ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) Impaired loans ​ $ 6,689 ​ $ — ​ $ — ​ $ 6,689 ​ ​ The fair value amounts shown in the above table are impaired loans net of reserves allocated to said loans. The total reserves allocated to these impaired loans are $112 for December 31, 2022 and $409 for December 31, 2021. The following table presents additional quantitative information about level 3 fair value measured at fair value on a non-recurring basis at December31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ Range December 31, 2022 ​ Value Valuation Technique ​ Unobservable Input ​ (Weighted Average) Impaired loans - ​ $ 204 Appraisal of collateral (1) Appraisal and liquidation 20% ​ ​ ​ ​ ​ ​ ​ ​ adjustments (2) ​ (20%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Range December 31, 2021 ​ Value ​ Valuation Technique ​ Unobservable Input ​ (Weighted Average) Impaired loans - ​ $ 6,689 ​ Appraisal of collateral (1) ​ Appraisal and liquidation ​ 20%-56% ​ ​ ​ ​ ​ ​ ​ ​ adjustments (2) ​ (39%) ​ (1) Fair value is generally determined through independent appraisals of the underlying collateral that generally include various level 3 inputs which are not identifiable. (2) Appraisals may be adjusted downward by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. ​ The carrying amounts and estimated fair values of the Company’s financial instruments not carried at fair value are as follows at December 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ Carrying Fair ​ ​ ​ ​ ​ ​ ​ ​ Amount ​ Value ​ Level 1 ​ Level 2 ​ Level 3 Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 86,081 ​ $ 86,081 ​ $ 86,081 ​ $ — ​ $ — Loans, net ​ 1,547,598 ​ 1,503,543 ​ — ​ — ​ 1,503,543 Accrued interest receivable ​ 6,320 ​ 6,320 ​ — ​ 2,448 ​ 3,872 Restricted investment in bank stocks ​ 9,562 ​ NA ​ — ​ — ​ — Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 1,974,387 ​ 1,972,387 ​ 1,881,354 ​ 91,033 ​ — Subordinated notes, net of issuance costs ​ 19,447 ​ 19,682 ​ — ​ 19,682 ​ — Accrued interest payable ​ 267 ​ 267 ​ — ​ 267 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ Carrying Fair ​ ​ ​ ​ ​ ​ ​ ​ Amount ​ Value ​ Level 1 ​ Level 2 ​ Level 3 Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 306,179 ​ $ 306,179 ​ $ 306,179 ​ $ — ​ $ — Loans, net ​ 1,273,767 ​ 1,260,146 ​ — ​ — ​ 1,260,146 Accrued interest receivable ​ 6,643 ​ 6,643 ​ — ​ 1,603 ​ 5,040 Restricted investment in bank stocks ​ 2,217 ​ NA ​ — ​ — ​ — Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 1,914,384 ​ 1,914,271 ​ 1,831,944 ​ 82,327 ​ — Note payable ​ 3,000 ​ 3,030 ​ — ​ 3,030 ​ — Subordinated notes, net of issuance costs ​ 19,376 ​ 18,867 ​ — ​ 18,867 ​ — Accrued interest payable ​ 250 ​ 250 ​ — ​ 250 ​ — ​

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2022
Premises and Equipment
Premises and Equipment	Note 5 — Premises and Equipment Year-end premises and equipment were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Land ​ $ 3,152 ​ $ 3,152 Buildings and improvements ​ 13,741 ​ 12,714 Furniture and equipment ​ 7,436 ​ 7,053 Leasehold improvements ​ 6,874 ​ 6,737 ​ ​ 31,203 ​ 29,656 Accumulated depreciation and amortization ​ (16,464) ​ (15,055) Premises and equipment, net ​ $ 14,739 ​ $ 14,601 ​ Depreciation included in occupancy expense on the Consolidated Statements of Income amounted to $1,407 in 2022 and $1,375 in 2021. ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 6 — Goodwill and Intangible Assets Goodwill: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Beginning of year ​ $ 5,359 ​ $ 5,359 Acquired goodwill impairment ​ — ​ — End of year ​ $ 5,359 ​ $ 5,359 ​ Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. At December 31, 2022, the Company’s reporting unit had positive equity and the Company elected to perform a Step 0 qualitative analysis and concluded that there was no goodwill impairment. Acquired Intangible Assets: ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ Intangible ​ Accumulated ​ ​ Asset ​ Amortization December 31, 2022 ​ ​ ​ ​ ​ Customer lists and intangible assets ​ $ 4,284 (2,892) ​ ​ $ 4,284 (2,892) December 31, 2021 ​ Customer lists and intangible assets ​ $ 4,284 (2,606) ​ ​ $ 4,284 (2,606) ​ Aggregate amortization expense was $286 for 2022 and $285 for 2021. Estimated amortization expense for each of the next four years is in the fifth year.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2022
Deposits
Deposits	Note 7 — Deposits A summarized analysis of the Bank’s deposits at December 31, 2022 and 2021 follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 31, 2021 ​ Non-interest bearing demand accounts ​ $ 723,228 ​ $ 701,645 ​ Interest-bearing demand accounts ​ 284,747 ​ 301,596 ​ Money market accounts ​ 615,149 ​ 615,111 ​ Savings accounts ​ 258,230 ​ 213,592 ​ Certificates of Deposit ​ 93,033 ​ 82,440 ​ Total deposits ​ $ 1,974,387 ​ $ 1,914,384 ​ ​ Time deposits that meet or exceed the FDIC insurance limit of $250 at year-end 2022 and 2021 were $17,015 and $23,859, respectively. Scheduled maturities of time deposits for the next five years are as follows: ​ ​ ​ ​ ​ 2023 $ 80,728 2024 ​ ​ 4,326 2025 ​ 7,979 ​ ​ $ 93,033 ​ Deposits of executive officers, directors and principal officers of the Company, including their immediate families and companies in which they are affiliated, amounted to $15,648 and $6,109 at December 31, 2022 and 2021, respectively. ​

FHLB Advances

FHLB Advances	12 Months Ended
	Dec. 31, 2022
FHLB Advances
FHLB Advances	Note 8 — FHLB Advances ​ At December 31, 2022 the full amount of FHLB advances represents borrowing under the overnight line of credit facility as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ Amount Rate Amount Rate Federal Home Loan Bank (FHLB) advances ​ $ 131,500 4.61 % $ — — % ​ ​ Additionally, the Company has outstanding municipal letters of credit (“MULOC”) outstanding with FHLB for purposes of securing public funds held by the Company. MULOC outstanding were $153,000 and $135,000 as of December 31, 2022 and 2021, respectively. At December 31, 2022 the Bank has no securities and $866,014 of loans pledged to FHLB under a blanket lien arrangement. At December 31, 2021 the Bank had no securities and $657,788 of loans pledged to FHLB under a blanket agreement. Based on the collateral and the Company’s holding of FHLB stock, the Company was eligible to borrow up to an additional total of $441,511 at year-end 2022 and $358,759 at year-end 2021.

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2022
Borrowings
Borrowings	Note 9 — Borrowings At year-end, the Note Payable was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ Amount Rate Amount Rate Note payable ​ $ — — % $ 3,000 5.60 % ​ As part of the acquisition of HVIA, the Company maintained a note payable for an interest only term loan. The loan interest was payable in monthly installments of $14 thousand, was unsecured and was paid off as scheduled with a balloon payment on November 16, 2022. On September 24, 2020, the Company completed a private placement of $20 million in aggregate principal amount of fixed-to-floating rate subordinated notes (“Subordinated Notes”) to certain qualified institutional buyers and accredited institutional investors. In conjunction with the issuance, the Company incurred costs of $694, which are amortized over the life of the borrowings on a level yield basis and are included in interest on subordinated notes on the Consolidated Statements of Income. At December 31, 2022, there were $19.4 million of Subordinated Notes outstanding, which is net of the unamortized issuance costs. The Subordinated Notes have a maturity date of September 30, 2030 and bear interest, payable semi- annually, at the rate of 4.25% per annum, until September 30, 2025. Commencing on that date, the interest rate applicable to the outstanding principal amount due will reset quarterly to an interest rate per annum equal to the then current three-month secured overnight financing rate plus 413 basis points, payable quarterly until maturity. The Company may, at its option, beginning on September 30, 2025, but not prior thereto except upon the occurrence of certain events specified in the Subordinated Notes agreements, redeem the Subordinated Notes, in whole or in part, subject to obtaining any required regulatory approvals.

Pension and other Post Retireme

Pension and other Post Retirement Plans	12 Months Ended
	Dec. 31, 2022
Pension and other Post Retirement Plans
Pension and other Post Retirement Plans	Note 10 — Pension and other Post Retirement Plans The Bank has a funded noncontributory defined benefit pension plan that covers substantially all employees meeting certain eligibility requirements. The pension plan was closed to new participants and benefit accruals were frozen as of December 31, 2015. The plan provides defined benefits based on years of service and final average salary. The Company uses December 31 as the measurement date for its pension plans. Information about changes in obligations and plan assets of the defined benefit pension plan follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Change in projected benefit obligation: ​ ​ Beginning of year ​ $ 28,221 ​ $ 29,428 Service cost ​ — ​ 189 Interest cost ​ 808 ​ 760 Benefits paid ​ (1,438) ​ (1,556) Actuarial loss ​ (6,302) ​ (600) End of year ​ $ 21,289 ​ $ 28,221 ​ ​ ​ ​ ​ ​ ​ Change in fair value of assets: ​ ​ Beginning of year ​ $ 42,867 ​ $ 39,963 Contributions ​ 1,453 ​ 2,000 Actual return on plan assets ​ (10,888) ​ 2,501 Benefits paid and expenses ​ (1,654) ​ (1,597) End of year ​ $ 31,778 ​ $ 42,867 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Funded status at end of year (plan assets less benefit obligation) ​ $ 10,489 ​ $ 14,646 ​ Amounts recognized in accumulated other comprehensive income (loss) at December 31 consist of: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Total net actuarial loss ​ $ (10,308) ​ $ (3,521) Transition asset ​ — ​ 28 ​ ​ $ (10,308) ​ $ (3,493) ​ The accumulated benefit obligation was $21,288 and $28,221 at year-end 2022 and 2021. Components of net periodic benefit cost and other amounts recognized in other comprehensive income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2022 2021 Service cost ​ $ — ​ $ 189 Interest cost ​ 808 ​ 760 Expected return on plan assets ​ (1,985) ​ (2,058) Amortization of transition cost ​ (28) ​ (48) Amortization of net loss ​ — ​ 21 Net periodic benefit cost/(income) ​ $ (1,205) ​ $ (1,136) Net gain/(loss) ​ $ 6,786 ​ $ (1,002) Amortization of transition asset ​ 28 ​ 48 Amortization of prior service cost ​ — ​ (21) Total recognized in other comprehensive income ​ $ 6,814 ​ (975) Total recognized in net periodic benefit cost and other comprehensive income ​ $ 5,609 ​ $ (2,111) ​ The components of net periodic benefit cost other than the service cost component are included in employee benefits in the Consolidated Statements of Income. Assumptions Weighted-average assumptions used to determine the benefit obligations at year-end: ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Discount rate 5.44 % 2.94 % Rate of compensation increase — % — % ​ Weighted-average assumptions used to determine net periodic pension cost: ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Discount rate 2.94 % 2.65 % Expected long-term rate of return on plan assets 5.25 % 5.25 % Rate of compensation increase — % — % ​ Investment Strategy and Allocation The Company is a participant in the New York State Bankers Retirement System (the “System”). The System’s overall investment strategy is to achieve a mix of approximately 97% of investments for long-term growth and 3% for near-term benefit payments with a wide diversification of asset types, fund strategies, and fund managers. The target allocations for the System assets are shown in the table below. Cash equivalents consist primarily of government issues (maturing in less than three months) and short term investment funds. Equity securities primarily include investments in common stock, depository receipts, preferred stock, commingled pension trust funds, exchange traded funds and real estate investment trusts. Fixed income securities include corporate bonds, government issues, credit card receivables, mortgage backed securities, municipals, commingled pension trust funds and other asset backed securities. Other investments are real estate interests and related investments held within a commingled pension trust fund. The weighted average expected long-term rate of return is estimated based on current trends in the System’s assets as well as projected future rates of return on those assets and reasonable actuarial assumptions based on the guidance provided by Actuarial Standard of Practice (“ASOP”) No. 27 “Selection of Economic Assumptions for Measuring Pension Obligations” for long term inflation, and the real and nominal rate of investment return for a specific mix of asset classes. The following assumptions were used in determining the long-term rate of return: Equity securities Dividend discount model, the smoothed earnings yield model and the equity risk premium model Fixed income securities Current yield-to-maturity and forecasts of future yields Other financial instruments Comparison of the specific investment’s risk to that of fixed income and equity instruments and other judgments ​ The long-term rate of return considers historical returns. Adjustments were made to historical returns in order to reflect expectations of future returns. These adjustments were due to factor forecasts by economists and long-term U.S. Treasury yields to forecast long-term inflation. In addition, forecasts by economists and others for long-term GDP growth were factored into the development of assumptions for earnings growth and per capita income. The System currently prohibits its investment managers from purchasing any security greater than 5% of the portfolio at the time of purchase or greater than 8% at market value in any one issuer. Effective June 25, 2013, the issuer of any security purchased must be located in a country in the MSCI (Morgan Stanley Capital International) World Index. In addition, the following are prohibited: short sales, unregistered stocks and margin purchases of equity securities, mortgage backed derivatives that have an inverse floating rate coupon or that are interest only securities, any asset backed security that is not issued by the U.S. Government or its agencies or its instrumentalities, securities of less than Baa2/BBB quality may not be purchased, securities of less than A-quality may not in the aggregate exceed 13% of the investment manager’s portfolio. An investment manager’s portfolio of commercial mortgage- backed securities and asset backed securities shall not exceed 10% of the portfolio at the time of purchase. In addition, unhedged currency exposure in countries not defined as “high income economies” by the World Bank is prohibited. The Company’s pension plan asset allocation at year-end 2022 and 2021, target allocation and expected long-term rate of return by asset class are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ Target Actual Target Actual ​ ​ Allocation ​ Allocation ​ Allocation ​ Allocation Asset category: ​ Cash equivalents — % 16.59 % — % — % Equity securities 30.00 % 25.05 % 30.00 % 35.65 % Fixed income securities 15.00 % 21.70 % 15.00 % 34.98 % Other financial instruments 55.00 % 36.66 % 55.00 % 29.37 % Total 100.00 % 100.00 % ​ Fair Value of Plan Assets The Company used the following valuation methods and assumptions to estimate the fair value of assets held by the plan: Commingled Pension Trust Funds (CPTF): The fair value of the plan assets at December 31, 2022, by asset class, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at ​ ​ December 31, 2022 Using: ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant Other ​ Significant ​ ​ ​ ​ ​ Markets for ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Identical Assets ​ Inputs ​ Inputs ​ ​ Total ​ (Level 1) ​ (Level 2) ​ (Level 3) Commingled pension trust funds-realty ​ 31,778 ​ — ​ 31,778 ​ — Total plan assets ​ $ 31,778 ​ $ — ​ $ 31,778 ​ $ — ​ The fair value of the plan assets at December 31, 2021, by asset class, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at ​ ​ December 31, 2021 Using: ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant Other ​ Significant ​ ​ ​ ​ ​ Markets for ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Identical Assets ​ Inputs ​ Inputs ​ ​ Total ​ (Level 1) ​ (Level 2) ​ (Level 3) Commingled pension trust funds-realty ​ 42,867 ​ — ​ 42,867 ​ — Total plan assets ​ $ 42,867 ​ $ — ​ $ 42,867 ​ $ — ​ Contributions: ​ Estimated Future Payments: ​ ​ ​ ​ ​ ​ Pension ​ ​ Benefits 2023 ​ $ 1,603 2024 ​ 1,635 2025 ​ 1,617 2026 ​ 1,617 2027 ​ 1,572 Following 5 years ​ $ 7,617 ​ Supplemental Executive Retirement Plans The Bank maintains a Supplemental Executive Retirement Plan for two former Chief Executive Officers to restore pension benefits that are limited due to Internal Revenue Service regulations. The benefits accrued under this plan, which are included in accrued expenses and other liabilities in the Consolidated Statements of Condition, were $665 and $687 as of December 31, 2022 and 2021, respectively. The Bank recorded expense of $57 and $58 for the years ended December 31, 2022 and 2021, respectively, in relation to this plan. Supplemental benefits for this plan expected to be paid in each year from 2023 2026 each The Bank also maintains a performance based Supplemental Executive Retirement Plan for the Chief Executive Officer and two Executive Vice Presidents. Contributions to this plan are based on achieving certain growth and profitability targets. The Bank recorded expense of $93 and $9 for the years ended December 31, 2022 and 2021, respectively. Deferred Directors’ Fee Plan The Bank and the Company maintain unfunded Deferred Director’s Fee Plans within which each director may defer the receipt of meeting fees. The benefits accrued under these plans totaled $6,959 and $6,955 at December 31, 2022 and 2021, respectively, which are included in accrued expenses and other liabilities in the Consolidated Statements of Condition. The Bank and the Company recorded an expense of $420 and $541 in 2022 and 2021 in relation to these plans. Deferred Compensation Plan The Bank and HVIA maintain unfunded Deferred Compensation Plans for certain officers. The benefits accrued under these plans totaled $32 and $75 at December 31, 2022 and 2021, respectively, which are included in accrued expenses and other liabilities in the Consolidated Statements of Condition. The Bank and HVIA recorded an expense of $2 and $6 in 2022 and 2021, respectively. Deferred Incentive Retirement Plan The Bank maintains an unfunded Deferred Incentive Retirement Plan for certain executive officers. The benefits accrued under this plan totaled $517 and $567 at December 31, 2022 and 2021, respectively, which are included in accrued expenses and other liabilities in the Consolidated Statements of Condition. The Bank recorded an expense of $24 and $26 in 2021 and 2020, respectively. 401(k) Savings Plan The Company has a 401(k) Plan (Plan) to provide retirement and incidental benefits for its employees. Employees may contribute up to 100% of their annual compensation to the Plan, limited to a maximum annual amount as set periodically by the Internal Revenue Service. Effective for Plan Years beginning January 1, 2016, the Company makes a safe harbor non-elective contribution equal to 3% of annual compensation for each eligible employee whether or not the employee elects to defer compensation to the plan. All safe harbor non-elective contributions vest immediately. In addition, effective for Plan Years beginning January 1, 2016, for those employees hired before April 1, 2016, the Plan provides for discretionary contributions according to the following schedule: ​ ​ ​ ​ Percentage of Participant Age Range Compensation ​ ​ 1.0 % Under age 35 2.0 % 35 years 5.0 % 45 years 8.5 % 55 years of age or older ​ Employees are eligible for the discretionary contribution after completing one year Discretionary contributions were $440 and $457 for 2022 and 2021, respectively. Restricted Stock Grants The Company has a time based restricted stock plan. For the years ended December 31, 2022 and 2021 the Company recognized stock-based compensation costs of $166 and $475, respectively. The Company uses the fair value of the common stock on the date of award to measure compensation cost for restricted stock unit awards. Compensation cost is recognized over the vesting period of the award using the straight line method. There were no restricted stock units granted for year ended December 31, 2022 and 15,162 restricted stock units granted for the year ended December 31, 2021. The grants generally vest at the rate of 33% per year with full vesting on the third anniversary date of the grant. Unamortized expense at December 31, 2022 was $57. A summary of the status of the Company’s non-vested restricted stock awards as of December 31, 2022, and changes during the year ended December 31, 2022. There were no restricted stock awards during 2022. Accordingly, the table below presents vesting during the year: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Fair ​ ​ Shares ​ Value Non-vested at beginning of period 22,922 ​ $ 28.92 Granted — ​ $ ​ Vested (11,245) ​ $ 28.59 Forfeited — ​ $ ​ Non-vested at end of period 11,677 ​ $ 29.24 ​ ​ On September 22, 2021 restricted stock units (RSUs) were granted in the amount of 48,004 from the Company’s 2019 Equity Incentive Plan to directors of the Company and officers of Orange Bank & Trust Company (“Bank”) and Hudson Valley Investment Advisors (“HVIA”) in connection with the successful completion of the Company’s initial public stock offering and listing on the NASDAQ Capital Market. Non-employee directors received 16,500 restricted stock units while officers received 31,504 restricted stock units. The restricted stock units granted to officers will vest over three years in approximately 33% increments on the first, second third ​ The following table summarizes the activity of RSUs during the year ended December 31, 2022: ​ ​ ​ ​ ​ ​ Restricted Stock Units Non-vested RSUs at beginning of period 48,004 Granted 26,255 Vested (11,637) Forfeited (2,875) Non-vested RSUs at end of period 59,747 ​

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Taxes
Income Taxes	Note 11 — Income Taxes Income tax expense was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Current expense ​ ​ ​ ​ ​ ​ Federal ​ $ 6,488 $ 5,353 State ​ 384 ​ 440 Total ​ 6,872 ​ 5,793 Deferred expense (benefit) ​ ​ ​ ​ ​ ​ Federal ​ (934) ​ (326) State ​ (410) ​ (630) Total ​ (1,344) ​ (956) Change in valuation allowance ​ 386 ​ 553 Total provision for income taxes ​ $ 5,914 $ 5,390 ​ Effective tax rates differ from the federal statutory rate of 21% for 2022 and 2021 applied to income before taxes due to the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Tax expense at statutory rate ​ $ 6,356 ​ $ 5,602 (Decrease) increase in taxes resulting from: ​ ​ Net earnings on bank-owned life insurance ​ (200) ​ (167) Tax-exempt municipal bond income, net of disallowed interest expense ​ (465) ​ (329) State income tax, net of federal tax benefit ​ (26) ​ 209 Valuation allowance ​ 386 ​ 553 Other ​ (137) ​ (478) Total provision for income tax ​ $ 5,914 ​ $ 5,390 ​ Year-end deferred tax assets and liabilities were due to the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Deferred tax assets: ​ ​ ​ ​ Allowance for loan losses ​ $ 5,991 $ 4,824 Reserve for unfunded commitments ​ 55 ​ 55 Deferred loan fees, net of costs ​ 1,130 ​ 962 Deferred compensation ​ 2,420 ​ 2,431 Available for sale securities ​ ​ 16,063 ​ ​ 293 Non-accrual interest ​ 298 ​ 336 State NOL ​ 2,476 ​ 2,284 Pension/deferred compensation OCI ​ 2,463 ​ 894 ​ ​ 30,896 ​ 12,079 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Deferred tax liabilities: ​ ​ Intangible assets ​ (1,004) ​ (902) Organization costs – holding company ​ (24) ​ (22) Organization costs – HVIA ​ (26) ​ (23) Pension ​ (2,797) ​ (2,717) Accumulated depreciation ​ (517) ​ (681) Accretion ​ (39) ​ (16) ​ ​ (4,407) ​ (4,361) Net deferred tax asset before valuation allowance ​ 27,089 ​ 7,718 Valuation allowance ​ (7,993) ​ (3,629) Net deferred tax asset ​ $ 19,096 ​ $ 4,089 ​ The Company has recorded a federal deferred tax asset that based upon an analysis of the evidence, it expects such federal deferred tax asset to be recoverable. The federal deferred tax asset is included in other assets on the balance sheet. However, due to the change in New York State tax legislation passed in March 2014, management has determined that a full valuation allowance, totaling $7,993, against the New York State portion of the deferred tax asset, which includes state net operating losses, at December 31, 2022 and 2021 is appropriate. At December 31, 2022, the Company has net operating loss carryforwards available for state income tax purposes of approximately $34.2 million, with expiration dates through 2031. The Company did not have any uncertain tax positions at December 31, 2022 and 2021. The Company’s policy is to recognize interest and penalties on unrecognized tax benefits in income tax expense in the Consolidated Statements of Income. The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of the states of New York and New Jersey. The Company is no longer subject to examination by taxing authorities for years before 2018.

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 12 — Accumulated Other Comprehensive Income (Loss) The following is changes in accumulated other comprehensive income (loss) by component, net of tax, for the years ending December 31, 2022 and 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2022 ​ ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Losses on ​ ​ ​ ​ Deferred ​ ​ ​ ​ Available-for- ​ Defined Benefit ​ Compensation ​ ​ ​ ​ Sale Securities ​ Pension Items ​ Liability ​ Total Beginning balance ​ $ (1,072) ​ $ (2,506) ​ $ 135 ​ $ (3,443) Other comprehensive income/(loss) before reclassification ​ (59,358) ​ (5,361) ​ (12) ​ (64,731) Less amounts reclassified from accumulated other comprehensive income ​ — ​ 22 ​ — ​ 22 Net current period other comprehensive income/(loss) ​ (59,358) ​ (5,383) ​ (12) ​ (64,753) Ending balance ​ $ (60,430) ​ $ (7,889) ​ $ 123 $ (68,196) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2021 ​ ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Losses on ​ ​ ​ ​ Deferred ​ ​ ​ ​ Available-for- ​ Defined Benefit ​ Compensation ​ ​ ​ ​ Sale Securities ​ Pension Items ​ Liability ​ Total Beginning balance ​ $ 4,949 ​ $ (3,277) ​ $ 147 ​ $ 1,819 Other comprehensive income/(loss) before reclassification ​ (6,021) ​ 792 ​ (12) ​ (5,241) Less amounts reclassified from accumulated other comprehensive income ​ — ​ 21 ​ — ​ 21 Net current period other comprehensive income/(loss) ​ (6,021) ​ 771 ​ (12) ​ (5,262) Ending balance ​ $ (1,072) ​ $ (2,506) ​ $ 135 ​ $ (3,443) ​ The following is significant amounts reclassified out of each component of accumulated other comprehensive income (loss) for the years ending December 31, 2022 and 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount Reclassified from ​ ​ Details about Accumulated Other ​ Accumulated Other Comprehensive ​ Affected Line Item in the Statement Comprehensive Income Components Income ​ where Net Income is Presented ​ 2022 2021 ​ Amortization of defined benefit pension items ​ ​ Transition asset ​ (28) ​ (48) Employee benefits Actuarial gains ​ $ — ​ $ 21 Employee benefits Total before tax ​ (28) ​ (27) Tax effect ​ (6) ​ (6) Provision for income taxes Net of tax ​ $ (22) ​ $ (21) Total reclassifications for the period, net of tax ​ $ (22) ​ $ (21) ​

Regulatory Capital Matters

Regulatory Capital Matters	12 Months Ended
	Dec. 31, 2022
Regulatory Capital Matters
Regulatory Capital Matters	Note 13 — Regulatory Capital Matters The Bank is subject to regulatory capital requirements administered by the federal banking agencies. Capital adequacy guidelines and prompt corrective regulations involve quantitative measures of assets, liabilities and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgements by regulators. Failure to meet the minimum capital requirements can initiate regulatory action. Under the Basel III rules, the Bank must hold a capital conservation buffer above the adequately capitalized risk-based capital ratios. The net unrealized gain or loss on available for sale securities is included in computing regulatory capital. Management believes as of December 31, 2022, the Bank meets all capital adequacy requirements to which it is subject. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion and capital restoration plans are required. At year-end 2022 and 2021, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes changed that category. Actual and required capital amounts and ratios are presented below at year-end. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To be Well Capitalized ​ ​ ​ ​ ​ ​ ​ For Capital Adequacy ​ For Capital Adequacy ​ under Prompt ​ ​ Actual ​ Purposes ​ Purposes with Capital Buffer ​ Corrective Action Provisions ​ Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total capital to risk weighted assets ​ $ 235,346 13.95 % $ 134,986 8.00 % $ 166,624 9.875 % $ 168,733 10.00 % Tier 1 (Core) capital to risk weighted assets ​ 214,243 12.70 % 101,240 6.00 % 132,877 7.875 % 134,986 8.00 % Common Tier 1 (CET1) to risk weighted assets ​ 214,243 12.70 % 75,930 4.50 % 107,567 6.375 % 109,677 6.50 % Tier 1 (Core) Capital to average assets ​ 214,243 9.09 % 94,250 4.00 % N/A N/A ​ 117,813 5.00 % December 31, 2021 ​ ​ ​ ​ ​ Total capital to risk weighted assets ​ $ 192,359 14.12 % $ 109,000 8.00 % $ 134,546 9.875 % $ 136,250 10.00 % Tier 1 (Core) capital to risk weighted assets ​ 175,318 12.87 % 81,750 6.00 % 107,296 7.875 % 109,000 8.00 % Common Tier 1 (CET1) to risk weighted assets ​ 175,318 12.87 % 61,312 4.50 % 86,859 6.375 % 88,562 6.50 % Tier 1 (Core) Capital to average assets ​ 175,318 8.15 % 86,093 4.00 % N/A N/A ​ 107,616 5.00 % ​

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases
Leases	Note 14 — Leases The Company enters into leases in the normal course of business primarily for financial centers, back office operations locations, business development offices, and information technology equipment. The Company’s leases have remaining terms from one ten years five years The Company includes lease extension and termination options in the lease term if, after considering relevant economic factors, it is reasonably certain the Company will exercise the option. In addition, the Company has elected to account for any non-lease components in its real estate leases as part of the associated lease component. The Company has also elected to not recognize leases with original lease terms of twelve months or less (short-term leases) on the Company’s balance sheet. Leases are classified as operating or financing leases at the lease commencement date. Currently, the Company does not have any leases classified as financing leases. Lease expense for operating leases and short-term leases is recognized on a straight-line basis over the lease term. Right-of-use assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of the lease payments over the lease term. The Company uses its incremental borrowing rate at lease commencement to calculate the present value of lease payments when the rate implicit in a lease is not known. The Company’s incremental borrowing rate is based on the FHLB advance rates, adjusted for the lease term and other factors. Right-of-use assets and lease liabilities are included in other assets and accrued expenses and other liabilities, respectively, in the Consolidated Statements of Condition. The right-of-use assets as of December 31, 2022 and 2021 were $4,029 and $3,038, respectively. Lease liabilities as of December 31, 2022 and 2021 were $4,029 and $3,038, respectively. Future undiscounted lease payments for operating leases with initial terms of one year or more as of December 31, 2022 are as follows: ​ ​ ​ ​ ​ ​ Years Ending December 31, ​ ​ 2023 ​ $ 878 ​ 2024 ​ 831 ​ 2025 ​ 762 ​ 2026 ​ 711 ​ 2027 ​ 497 ​ Thereafter ​ 515 ​ Total undiscounted lease payments ​ $ 4,194 ​ Discount ​ $ 165 ​ Total discounted lease payments ​ $ 4,029 ​ Operating lease weighted average remaining lease term (years) ​ 5.46 years Operating lease weighted average discount rate ​ 3.38 % ​ Rent expense for all operating leases was $911 in 2022 and $792 in 2021.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2022
Revenue from Contracts with Customers
Revenue from Contracts with Customers	Note 15 — Revenue from Contracts with Customers All of the Company’s revenue from contracts with customers in the scope of ASC 606 is recognized within Noninterest Income. The following table presents the Company’s gross sources of noninterest income for the twelve months ended December 31, 2022 and 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2022 ​ 2021 ​ Noninterest Income ​ ​ ​ ​ ​ ​ ​ Service charges on deposit accounts ​ ​ ​ ​ ​ ​ ​ Overdraft fees ​ $ 328 ​ $ 279 ​ Other ​ ​ 365 ​ ​ 359 ​ Trust income ​ 4,764 ​ 4,788 ​ Investment advisory income ​ 4,537 ​ 4,853 ​ Earnings on bank owned life insurance (a) ​ 950 ​ 793 ​ Other (b) ​ 1,052 ​ 1,030 ​ Total Noninterest Income ​ $ 11,996 ​ $ 12,102 ​ (a) Not within the scope of ASC 606. (b) The Other category includes safe deposit income, checkbook fees, and debit card fee income, totaling $913 and $805 for 2022 and 2021, respectively, that are within the scope of ASC 606 and loan related fee income and miscellaneous income, totaling $139 and $225 for 2022 and 2021, respectively, which are outside the scope of ASC 606. A description of the Company’s revenue streams accounted for under ASC 606 follows: ​ Service Charges on Deposit Accounts: The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. ​ Wealth Management Fees (Gross): The Company earns wealth management fees, which includes trust income and investment advisory income, from its contracts with trust and brokerage customers to manage assets for investment, and/or to transact on their accounts. These fees are primarily earned over time as the Company provides the contracted services and are generally assessed based on a tiered scale of the market value of the assets under management at month-end or quarter-end.

Financial Instruments with Off-

Financial Instruments with Off-Balance Sheet Risk	12 Months Ended
	Dec. 31, 2022
Financial Instruments with Off-Balance Sheet Risk
Financial Instruments with Off-Balance Sheet Risk	Note 16 — Financial Instruments with Off-Balance Sheet Risk The Bank is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing need of its customers. These financial instruments consist primarily of commitments to extend credit (typically mortgages and commercial loans) and, to a lesser extent, standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized on the Consolidated Statements of Condition. The Bank’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 is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligation as it does for on balance sheet instruments. The Bank does not anticipate any material losses from these commitments. Commitments to extend credit, including commitments to grant loans and unfunded commitments under lines of 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 Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extensions of credit, is based on management’s credit evaluation of the customer. Collateral held varies but may include accounts receivable, inventory, property and equipment and income-producing commercial properties. On loans secured by real estate, the Bank generally requires loan to value ratios of no greater than 80%. Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements and similar transactions. The terms of the letters of credit vary and may have renewal features. The credit risk involved in using letters of credit is essentially the same as that involved in extending loans to customers. The Bank holds collateral supporting those commitments for which collateral is deemed necessary. Management believes that the proceeds obtained through a liquidation of such collateral would be sufficient to cover the maximum potential amount of future payments required under the corresponding guarantees. The Bank has not been required to perform on any financial guarantees, and has not incurred any losses on its commitments, during the past two years. A summary of the Bank’s Commitments at December 31, 2022 and 2021 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Commitments to extend credit ​ $ 389,062 ​ $ 373,268 Standby letters of credit ​ 13,552 ​ 11,501 ​

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2022
Contingencies
Contingencies	Note 17 — Contingencies The Company is subject to claims and lawsuits which arise primarily in the ordinary course of business. Based on information presently available and advice received from legal counsel representing the Company in connection with any such claims and lawsuits, it is the opinion of management that the disposition or ultimate determination of any such claims and lawsuits will not have a material effect on the consolidated financial position, consolidated results or liquidity of the Company.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events
Subsequent Events	Note 18 — Subsequent Events On February 16, 2023 the Company’s board of director’s declared a quarterly cash dividend of $0.23 per share on the Company’s common stock. The dividend was paid on March 15, 2023 to shareholders of record as of March 3 ​ On March 12, 2023, Signature Bank was closed by the New York State Department of Financial Services and the Federal Deposit Insurance Corporation (“FDIC”) was appointed as receiver. On March 20, 2023, the FDIC entered into a purchase and assumption agreement with Flagstar Bank, a wholly owned subsidiary of New York Community Bancorp, for certain deposits and certain loans of Signature Bank. As a result of that agreement, the subordinated debt related to Signature Bank was not assumed. The Company owns approximately ​

Parent Company Information

Parent Company Information	12 Months Ended
	Dec. 31, 2022
Parent Company Information
Parent Company Information	Note 19 — Parent Company Information Financial Information for the Company only is presented in the following tables: Condensed Statements of Condition ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2022 2021 Assets ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 4,596 ​ $ 24,441 Investment in subsidiaries ​ 152,214 ​ 179,487 Goodwill and intangible assets ​ 1,564 ​ 1,850 Other assets ​ 366 ​ 211 Total assets ​ $ 158,740 ​ $ 205,989 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2022 2021 Liabilities and stockholders’ equity ​ ​ ​ ​ ​ ​ Subordinated notes, net of issuance costs ​ $ 19,447 ​ $ 19,376 Note payable ​ — ​ 3,000 Other liabilities ​ 1,155 ​ 777 Total liabilities ​ 20,602 ​ 23,153 Total stockholders’ equity ​ 138,138 ​ 182,836 Total liabilities and stockholders’ equity ​ $ 158,740 ​ $ 205,989 ​ ​ Condensed Statements of Income and Comprehensive Income (Loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, ​ 2022 2021 Operating Income ​ ​ ​ ​ ​ ​ Dividend income from operating subsidiaries ​ $ 6,792 ​ $ 5,329 Servicing Fee ​ ​ 553 ​ ​ 372 Total operating income ​ 7,345 ​ 5,701 Operating Expenses ​ ​ ​ ​ ​ ​ Interest on borrowings ​ 1,077 ​ 1,087 Salaries and employee benefits ​ 553 ​ 372 Professional fees ​ 413 ​ 172 Directors’ fees and expenses ​ 162 ​ 189 Intangible amortization ​ 286 ​ 286 Other expenses and income taxes ​ (28) ​ 59 Total operating expenses ​ 2,463 ​ 2,165 Equity in undistributed earnings of subsidiary ​ 19,481 ​ 17,751 Net income ​ $ 24,363 ​ $ 21,287 Comprehensive income ​ $ (40,390) ​ $ 16,025 ​ Condensed Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, ​ 2022 2021 Cash flows from operating activities ​ ​ ​ ​ ​ ​ Net income after equity in undistributed earnings of subsidiary ​ $ 24,363 ​ $ 21,287 Adjustments to reconcile net income to net cash provided by operating activities ​ ​ Equity in undistributed earnings of subsidiary companies ​ (19,481) ​ (17,751) Stock-based compensation ​ 503 ​ 69 Amortization of intangibles ​ 286 ​ 286 Restricted stock expense ​ 166 ​ 475 Other, net ​ 295 ​ (198) Net cash provided by (used in) operating activities ​ 6,132 ​ 4,168 Cash flows from investing activities ​ ​ ​ ​ ​ ​ Investment in operating subsidiary ​ ​ (18,000) ​ ​ (21,500) Net cash used in investing activities ​ ​ (18,000) ​ ​ (21,500) Cash flows from financing activities ​ ​ ​ ​ ​ ​ Proceeds from the issuance of common stock (net of costs) ​ ​ — ​ ​ 35,252 Repayment of note payable ​ ​ (3,000) ​ ​ — Issuance of subordinated notes, net of issuance costs ​ ​ ​ ​ ​ — Dividends paid, common stock ​ ​ (4,669) ​ ​ (4,029) Purchases of treasury stock ​ ​ (308) ​ ​ (379) Net cash (used in) provided by financing activities ​ ​ (7,977) ​ ​ 30,844 Net increase in cash and cash equivalents ​ ​ (19,845) ​ ​ 13,512 Cash and cash equivalents at beginning of year ​ ​ 24,441 ​ ​ 10,929 Cash and cash equivalents at end of year ​ $ 4,596 ​ $ 24,441 ​

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2022
Segment Information
Segment Information	Note 20 — Segment Information The reportable segments are determined by the products and services offered by the Company, primarily distinguished between banking and wealth management. Loans, investments, and deposits provide the revenues in the banking operation, and trust fees and investment management fees provide the revenues in wealth management. All operations are domestic. Significant segment totals are reconciled to the financial statements as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the twelve months ended December 31, 2022 ​ Banking Wealth Management Total Segments Net interest income ​ ​ $ 78,088 ​ $ — ​ $ 78,088 Noninterest income ​ ​ 2,695 ​ 9,301 ​ 11,996 Provision for loan loss ​ ​ (9,517) ​ — ​ (9,517) Noninterest expenses ​ ​ (42,898) ​ (7,392) ​ (50,290) Income tax expense ​ ​ (5,513) ​ (401) ​ (5,914) Net income ​ ​ $ 22,855 ​ $ 1,508 ​ $ 24,363 Total assets ​ ​ $ 2,279,469 ​ $ 7,865 ​ $ 2,287,334 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the twelve months ended December 31, 2021 ​ Banking Wealth Management Total Segments Net interest income ​ ​ $ 60,461 ​ $ — ​ $ 60,461 Noninterest income ​ ​ 2,461 ​ 9,641 ​ 12,102 Provision for loan loss ​ ​ (2,428) ​ — ​ (2,428) Noninterest expenses ​ ​ (36,736) ​ (6,722) ​ (43,458) Income tax expense ​ ​ (4,777) ​ (613) ​ (5,390) Net income ​ ​ $ 18,981 ​ $ 2,306 ​ $ 21,287 Total assets ​ ​ $ 2,133,440 ​ ​ 9,143 ​ $ 2,142,583 ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies
Nature of Operations and Principles of Consolidation	Nature of Operations and Principles of Consolidation: The Company provides commercial and consumer banking services to individuals, small businesses and local municipal governments as well as trust and investment services through the Bank and HVIA. The Company is headquartered in Middletown, New York, with eight locations in Orange County, New York, seven in Westchester County, New York, two in Rockland County, New York and one in Bronx County, New York. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are commercial real estate, commercial & industrial and residential mortgage loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial & industrial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. There are no significant concentrations of loans to any one industry or customer. However, the customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the areas in which they operate. Assets held by the Company in an agency or fiduciary capacity for its customers are excluded from the consolidated financial statements since they do not constitute assets of the Company. Assets held by the Company amounted to $1,272,498 and $1,325,894 at December 31, 2022 and 2021, respectively.
Use of Estimates	Use of Estimates: To prepare financial statements in conformity with U.S. generally accepted accounting principles, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ.
Cash Flows	Cash Flows:
Securities	Securities: Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis.
Loans	Loans: Interest income on loans is discontinued and placed on non-accrual status at the time the loan is 120 days (in the case of residential mortgage loans) or 90 days (in the case of commercial loans) delinquent unless the loan is well-secured and in process of collection. Loans are charged off to the extent principal or interest is deemed uncollectible. Secured consumer loans, except those secured by the borrower’s primary or secondary residence, are charged off upon becoming 180 days past due, or whenever collection is doubtful, whichever occurs first. All unsecured consumer loans are charged off when they become 180 days delinquent or if it is determined that the debt is uncollectible, whichever occurs first. Past-due status is based on the contractual terms of the loan. In all cases, loans are placed on non-accrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. Non-accrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. All interest accrued but not received for loans placed on non-accrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Under the cash-basis method, interest income is recorded when the payment is received in cash. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.
Concentration of Credit Risk	Concentration of Credit Risk:
Allowance for Loan Losses	Allowance for Loan Losses: The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings (“TDRs”) and classified as impaired. 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. All criticized and classified consumer mortgages, commercial loans, and commercial real estate loans are reviewed to determine impairment status. Minimally, loans in which the borrower has filed bankruptcy; loans in non-accrual status; or loans that are considered TDRs would be considered impaired. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. A specific allocation within the allowance for loan losses is established for an impaired loan if its carrying value exceeds its estimated fair value. For commercial loans secured by real estate, estimated fair values of collateral are determined primarily through third-party appraisals. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the original appraisal and the condition of the property. Appraised values are discounted to arrive at the estimated selling price of the collateral, which is considered to be the estimated fair value. The discounts also include estimated costs to sell the property. For commercial and industrial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging reports, equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. TDRs are individually evaluated for impairment and included in the separately identified impairment disclosures. TDRs are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a TDR is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For TDRs that subsequently default, the Company determines the amount of the allowance on that loan in accordance with the accounting policy for the allowance for loan losses on loans individually identified as impaired. The Company incorporates recent historical experience related to TDRs including the performance of TDRs that subsequently default into the calculation of the allowance by loan portfolio segment. The general component covers loans that are collectively evaluated for impairment. Large groups of smaller balance homogeneous loans, such as consumer, are collectively evaluated for impairment, and accordingly, they are not included in the separately identified impairment disclosures. The general allowance component also includes loans that are not individually identified for impairment evaluation, such as those loans that are individually evaluated but are not considered impaired. The general component is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent 4 years. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans (including TDRs); levels of and trends in charge-offs and recoveries; migration of loans to the classification of special mention, substandard, or doubtful; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentration. In addition, federal regulatory agencies and the New York State Department of Financial Services, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses and may require the Bank to recognize additions to the allowance based on their judgments about information available to them at the time of their examination, which may not be currently available to management. The loan portfolio is segmented into commercial and industrial, commercial real estate, commercial real estate construction, residential real estate, home equity, and consumer loans.
Commercial and Industrial Lending	Commercial and Industrial Lending: Commercial and industrial loans are generally secured with short-term assets; however, in many cases, additional collateral such as real estate is provided as additional security for the loan. Loan-to-value maximum values have been established by the Bank and are specific to the type of collateral. Collateral values may be determined using invoices, inventory reports, accounts receivable aging reports, collateral appraisals, etc. In underwriting commercial and industrial loans, an analysis of the borrower’s character, capacity to repay the loan, the adequacy of the borrower’s capital and collateral as well as an evaluation of conditions affecting the borrower is performed. Analysis of the borrower’s past, present and future cash flows is also an important aspect of the Bank’s analysis. Commercial loans generally present a higher level of risk than other types of loans due primarily to the effect of general economic conditions.
Commercial Real Estate Lending	Commercial Real Estate Lending — In underwriting these loans, the Bank performs a thorough analysis of the financial condition of the borrower, the borrower’s credit history, and the reliability and predictability of the cash flow generated by the property securing the loan. Appraisals on properties securing commercial real estate loans originated by the Bank are performed by independent appraisers. Commercial real estate loans generally present a higher level of risk than other types of loans due primarily to the effect of general economic conditions.
Commercial Real Estate Construction Lending	Commercial Real Estate Construction Lending: The Bank’s commercial real estate construction loans are generally secured with the subject property. Terms of construction loans depend on the specifics of the project such as estimated absorption rates, estimated time to complete, etc. In underwriting commercial real estate construction loans, the Bank performs a thorough analysis of the financial condition of the borrower, the borrower’s credit history, the reliability and predictability of the cash flow generated by the project using feasibility studies, market data, etc. Appraisals on properties securing commercial real estate construction loans originated by the Bank are performed by independent appraisers. Commercial real estate construction loans generally present a higher level of risk than other types of loans due primarily to the effect of general economic conditions and uncertainties of construction costs.
Residential Real Estate Lending	Residential Real Estate Lending: The Bank offers fixed-rate loans with terms up to a maximum of 30 years for both permanent structures and those under construction. The Bank’s one- to four-family residential real estate loan originations are secured primarily by properties located in its primary market area and surrounding areas. The majority of the Bank’s residential real estate loans originate with a loan-to-value of 80% or less. Loans in excess of 80% are required to have private mortgage insurance. In underwriting one- to four-family residential real estate loans, the Bank evaluates both the borrower’s ability to make monthly payments and the value of the property securing the loan. Properties securing real estate loans made by the Bank are appraised by independent appraisers. The Bank generally requires borrowers to obtain an attorney’s title opinion or title insurance, and fire and property insurance (including flood insurance, if necessary) in an amount not less than the amount of the loan. The Bank has not engaged in sub- prime residential mortgage originations. Residential real estate loans generally present a lower level of risk than other types of loans because they are secured by the borrower’s primary residence.
Home Equity Lending	Home Equity Lending: Home equity lines and loans are secured by the borrower’s primary residence with a maximum loan-to-value of 85% and a maximum term of 15 years on home equity loans and a 10-year 15-year In underwriting home equity lines and loans, a thorough analysis of the borrower’s financial ability to repay the loan as agreed is performed. The ability to repay shall be determined by the borrower’s employment history, current financial conditions, and credit background. The analysis is based primarily on the customer’s ability to repay and secondarily on the collateral or security. Home equity lines and loans generally present a lower level of risk than other types of consumer loans because they are secured by the borrower’s primary residence. The subordinate nature of some home equity lines and loans may make these loans of higher risk than other residential real estate loans.
Consumer Lending	Consumer Lending: Consumer loan terms vary according to the type and value of collateral and creditworthiness of the borrower. In underwriting consumer loans, a thorough analysis of the borrower’s financial ability to repay the loan as agreed is performed. The ability to repay shall be determined by the borrower’s employment history, current financial conditions, and credit background. Consumer loans may entail greater credit risk than do residential real estate loans particularly in the case of consumer loans which are unsecured or are secured by rapidly depreciable assets, such as automobiles or recreational equipment. In such cases, any repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance as a result of the greater likelihood of damage, loss or depreciation. In addition, consumer loan collections are dependent on the borrower’s continuing financial stability, and thus are more likely to be affected by adverse personal circumstances. Furthermore, the application of various federal and state laws, including bankruptcy and insolvency laws, may limit the amount which can be recovered on such loans.
Transfers of Financial Assets	Transfers of Financial Assets:
Foreclosed Assets	Foreclosed Assets:
Premises and Equipment	Premises and Equipment:
Trust and Investment Advisory Income	Trust and Investment Advisory Income: Included in other assets on the balance sheet is a receivable for trust fees and advisory fees that have been earned but not yet collected.
Federal Home Loan Bank (FHLB) Stock	Federal Home Loan Bank (FHLB) Stock:
Federal Reserve Bank (FRB) Stock	Federal Reserve Bank (FRB) Stock:
Bank Owned Life Insurance	Bank Owned Life Insurance: The Bank has purchased life insurance policies on certain key executives. 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 other amounts due that are probable at settlement.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: Intangible assets consist of acquired customer relationship intangible assets arising from wealth management acquisitions and are amortized on a straight lined basis over their estimated useful lives.
Loan Commitments and Related Financial Instruments	Loan Commitments and Related Financial Instruments:
Stock-Based Compensation	Stock-Based Compensation: Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company’s accounting policy is to recognize forfeitures as they occur.
Income Taxes	Income Taxes: A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in other expense.
Retirement Plans	Retirement Plans:
Earnings per Common Share	Earnings per Common Share: Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period. All outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends are considered participating securities for this calculation. As of December 31, 2022 and 2021, there are approximately in participating securities for these periods. Earnings and dividends per share are restated for any stock splits and stock dividends through the date of issuance of the financial statements. The Company currently maintains a simple capital structure, which includes restricted stock with participation rights to dividends, thus there are no dilutive effects on earnings per share.
Comprehensive Income(Loss):	Comprehensive Income(Loss): changes in the funded status of the pension plan and deferred compensation, which are also recognized as separate components of equity.
Loss Contingencies	Loss Contingencies:
Restrictions on Cash	Restrictions on Cash:
Dividend Restriction	Dividend Restriction:
Fair Value of Financial Instruments	Fair Value of Financial Instruments:
Segment Disclosure	Segment Disclosure:
Reclassifications	Reclassifications:
Recent Accounting Pronouncements	Recent Accounting Pronouncements: In June, 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses Topic 326: Measurement of Credit Losses on Financial Instruments. The objective of the ASU is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date by replacing the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to form credit loss estimates. In November 2019, the FASB adopted changes to delay the effective date of ASU 2016-13 to January 2023 for certain entities, including certain Securities and Exchange Commission filers, public business entities, and private companies. As a result, the Company is eligible for the delay and will adopt CECL effective January 1, 2023. The Company has selected a third-party firm to assist in the development of a CECL model to assist in the calculation of the allowance for loan and lease losses in preparation for the change to the expected loss model. The Company has also engaged a third-party firm to perform a model validation of our CECL model. The Company is also in the process of updating its policies and internal controls accordingly. The Company expects to recognize a one-time cumulative-effect adjustment to our ALLL as of January 1, 2023, in order to bring our allowance for credit losses (ACL) into conformity with the ASU, consistent with regulatory expectations set forth in interagency guidance. The Company estimates that under the ACL framework, the allowance for loan losses will remain flat or increase by up to million, after tax, when compared to the amount being carried on the consolidated balance sheet at December 31, 2022. The Company expects the impact of the creation of an allowance for unfunded commitments to be an increase of up to an additional adjustment related to the securities portfolio. The Company is finalizing the assumptions built into its model as well as the related internal controls therein. This increase encompasses loans that the Company currently evaluates for impairment on an individual basis, loans evaluated collectively by pooled segment, and unfunded commitments made by the Company not currently carried on the balance sheet. Based on the composition and quality of the Company’s debt securities portfolio, management has determined there to be a zero loss estimate on securities that are backed by the U.S. governmental agencies.
Risk and Uncertainties	Risks and Uncertainties: Both banks appear to have had high ratios of uninsured deposits to total deposits, when compared to industry average. These failures underscore the importance of maintaining access to diverse sources of funding. The Company’s deposit base includes a combination of consumer, commercial, and public funds deposits. The Company’s largest depositors include a mixture of government-related organizations, attorney trust accounts, various escrow account relationships, and commercial clients without a high level of industry concentration. Market conditions and external factors may unpredictably impact the competitive landscape for deposits in the banking industry. Additionally, the rising interest rate environment has increased competition for liquidity and the premium at which liquidity is available to meet funding needs. The Company believes the sources of liquidity presented in the Audited Consolidated Financial Statements and the Notes to the Audited Consolidated Financial Statements are sufficient to meet its needs on the balance sheet date. An unexpected influx of withdrawals of deposits could adversely impact the Company's ability to rely on organic deposits to primarily fund its operations, potentially requiring greater reliance on secondary sources of liquidity to meet withdrawal demands or to fund continuing operations. These sources may include proceeds from Federal Home Loan Bank advances, sales of investment securities and loans, federal funds lines of credit from correspondent banks, and out-of-market time deposits. Important Accounting Policy ramifications of such events are outlined in the previous sections of Note 1, and subsequently, in the relevant Notes to the Consolidated Financial Statements. In response to these events, the Treasury Department, Federal Reserve, and FDIC jointly announced the Bank Term Funding Program (BTFP) on March 12, 2023. This program aims to enhance liquidity by allowing institutions to pledge certain securities at the par value of the securities, and at a borrowing rate of ten basis points over the one-year overnight index swap rate. The BTFP is available to eligible U.S. federally insured depository institutions, with advances having a term of up to one year and no prepayment penalties. As of the date of the release of the Audited Consolidated Financial Statements, the Company has not accessed the BTFP. Such reliance on secondary funding sources could increase the Company's overall cost of funding and thereby reduce net income. While the Company believes its current sources of liquidity are adequate to fund operations, there is no guarantee they will suffice to meet future liquidity demands. This may necessitate slowing or discontinuing loan growth, capital expenditures, or other investments, or liquidating assets.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2022
Investment Securities
Schedule of amortized cost and fair value of investment securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Value Available-for-sale December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies and treasuries ​ $ 104,734 ​ $ 25 ​ $ (11,009) ​ $ 93,750 Mortgage-backed securities ​ 364,690 ​ 17 ​ (47,792) ​ ​ 316,915 Corporate Securities ​ 28,559 ​ — ​ (2,901) ​ ​ 25,658 Obligations of states and political subdivisions ​ 111,971 ​ 48 ​ (14,881) ​ ​ 97,138 Total debt securities ​ $ 609,954 ​ $ 90 ​ $ (76,583) ​ $ 533,461 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Gross ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ ​ Cost ​ Gains ​ Losses ​ Value Available-for-sale December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies $ 80,596 $ 440 $ (1,330) $ 79,706 Mortgage-backed securities ​ 272,931 ​ 1,285 ​ (3,784) ​ 270,432 Corporate Securities ​ ​ 20,081 ​ ​ 278 ​ ​ (148) ​ ​ 20,211 Obligations of states and political subdivisions ​ 92,545 ​ 2,149 ​ (246) ​ 94,448 Total debt securities $ 466,153 $ 4,152 $ (5,508) $ 464,797 ​
Schedule of contractual maturities of debt securities	​ ​ ​ ​ ​ ​ ​ ​ ​ Available-for-sale ​ ​ Amortized ​ Fair ​ ​ Cost ​ Value Due in one year or less ​ $ 3,146 ​ $ 3,161 Due after one through five years ​ 26,075 ​ 25,112 Due after five through ten years ​ 70,970 ​ 62,609 Due after ten years ​ 145,073 ​ 125,664 ​ ​ 245,264 ​ 216,546 Mortgage-backed securities ​ 364,690 ​ 316,915 Total debt securities ​ $ 609,954 ​ $ 533,461 ​
Schedule of securities with unrealized and unrecognized losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ ​ Value ​ Losses ​ Value ​ Losses ​ Value ​ Losses Available-for-sale December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies and treasuries ​ $ 47,064 ​ $ (2,414) ​ $ 41,718 ​ $ (8,595) ​ $ 88,782 ​ $ (11,009) Mortgage-backed securities ​ 150,542 ​ (12,139) ​ 165,336 ​ (35,653) ​ 315,878 ​ (47,792) Corporate Securities ​ 12,503 ​ (1,007) ​ 13,155 ​ ​ (1,894) ​ ​ 25,658 ​ (2,901) Obligations of states and political subdivisions ​ 57,287 ​ (6,763) ​ 32,479 ​ (8,118) ​ 89,766 ​ (14,881) Total debt securities ​ $ 267,396 ​ $ (22,323) ​ $ 252,688 ​ $ (54,260) ​ $ 520,084 ​ $ (76,583) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 Months or More ​ Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ ​ Value ​ Losses ​ Value ​ Losses ​ Value ​ Losses Available-for-sale December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. government agencies ​ $ 10,337 ​ $ (121) ​ $ 32,210 ​ $ (1,209) ​ $ 42,547 ​ $ (1,330) Mortgage-backed securities ​ 177,506 ​ (3,273) ​ 14,134 ​ (511) ​ 191,640 ​ (3,784) Corporate Securities ​ ​ 9,354 ​ ​ (148) ​ ​ — ​ ​ — ​ ​ 9,354 ​ ​ (148) Obligations of states and political subdivisions ​ 13,349 ​ (138) ​ 3,298 ​ (108) ​ 16,647 ​ (246) Total debt securities ​ $ 210,546 ​ $ (3,680) ​ $ 49,642 ​ $ (1,828) ​ $ 260,188 ​ $ (5,508) ​

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2022
Loans
Schedule of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ ​ December 31, 2021 ​ Commercial and industrial ​ $ 258,901 ​ $ 268,508 ​ Commercial real estate ​ 1,098,054 ​ 852,707 ​ Commercial real estate construction ​ 109,570 ​ 72,250 ​ Residential real estate ​ 74,277 ​ 65,248 ​ Home equity ​ 12,329 ​ 13,638 ​ Consumer ​ 16,299 ​ 19,077 ​ Total ​ $ 1,569,430 ​ $ 1,291,428 ​ ​
Schedule of activity in the allowance for loan losses and recorded investment in loans by portfolio segment and based on impairment method	​ ​ ​ ​ The following table presents the activity in the allowance for loan losses by portfolio segment for each of the years ending December 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2022 ​ ​ Commercial ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Commercial ​ Real Estate ​ Residential ​ Home ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Real Estate ​ Construction ​ Real Estate ​ Equity ​ Consumer ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 4,901 ​ $ 11,183 ​ $ 964 ​ $ 272 ​ $ 80 ​ $ 261 ​ $ 17,661 Provision for loan losses ​ ​ 5,505 ​ ​ 3,129 ​ ​ 288 ​ ​ 138 ​ ​ (17) ​ ​ 474 ​ 9,517 Charge-offs ​ ​ (4,962) ​ ​ — ​ ​ — ​ ​ (65) ​ ​ — ​ ​ (479) ​ (5,506) Recoveries ​ 66 ​ ​ 52 ​ ​ — ​ ​ — ​ ​ — ​ ​ 42 ​ 160 Ending balance ​ $ 5,510 ​ $ 14,364 ​ $ 1,252 ​ $ 345 ​ $ 63 ​ $ 298 ​ $ 21,832 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2021 ​ ​ Commercial ​ ​ ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Commercial ​ Real Estate ​ Residential ​ Home ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Real Estate ​ Construction ​ Real Estate ​ Equity ​ Consumer ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 4,795 ​ $ 9,782 ​ $ 801 ​ $ 381 ​ $ 77 ​ $ 336 ​ $ 16,172 Provision for loan losses ​ 828 ​ 1,326 ​ 163 ​ (98) ​ 3 ​ 206 ​ 2,428 Charge-offs ​ (942) ​ — ​ ​ — ​ (11) ​ — ​ (314) ​ (1,267) Recoveries ​ 220 ​ 75 ​ — ​ — ​ — ​ 33 ​ 328 Ending balance ​ $ 4,901 ​ $ 11,183 ​ $ 964 ​ $ 272 ​ $ 80 ​ $ 261 ​ $ 17,661 ​ The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Commercial ​ Real Estate ​ Residential ​ Home ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Real Estate ​ Construction ​ Real Estate ​ Equity ​ Consumer ​ Total December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending balance: ​ ​ ​ ​ ​ ​ ​ individually evaluated for impairment ​ $ 653 ​ $ 380 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,033 collectively evaluated for impairment ​ 4,857 ​ 13,984 ​ 1,252 ​ 345 ​ 63 ​ 298 ​ 20,799 Total ending allowance balance ​ $ 5,510 ​ $ 14,364 ​ $ 1,252 ​ $ 345 ​ $ 63 ​ $ 298 ​ $ 21,832 Loans: ​ ​ ​ ​ ​ ​ ​ Ending balance: ​ ​ ​ ​ ​ ​ ​ individually evaluated for impairment ​ $ 1,003 ​ $ 22,956 ​ $ — ​ $ 1,254 ​ $ 51 ​ $ 104 ​ $ 25,368 collectively evaluated for impairment ​ 257,898 ​ 1,075,098 ​ 109,570 ​ 73,023 ​ 12,278 ​ 16,195 ​ 1,544,062 Total ending loans balance ​ $ 258,901 ​ $ 1,098,054 ​ $ 109,570 ​ $ 74,277 ​ $ 12,329 ​ $ 16,299 ​ $ 1,569,430 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ ​ Commercial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Commercial ​ Real Estate ​ Residential ​ Home ​ ​ ​ ​ ​ ​ ​ ​ Industrial ​ Real Estate ​ Construction ​ Real Estate ​ Equity ​ Consumer ​ Total December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ Ending balance: ​ ​ ​ ​ ​ ​ ​ individually evaluated for impairment ​ $ 137 ​ $ 1,272 ​ $ — ​ $ — ​ $ — ​ $ 24 ​ $ 1,433 collectively evaluated for impairment ​ 4,764 ​ 9,911 ​ 964 ​ 272 ​ 80 ​ 237 ​ 16,228 Total ending allowance balance ​ $ 4,901 ​ $ 11,183 ​ $ 964 ​ $ 272 ​ $ 80 ​ $ 261 ​ $ 17,661 Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ending balance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ individually evaluated for impairment ​ $ 952 ​ $ 23,523 ​ $ — ​ $ 1,227 ​ $ 50 ​ $ 114 ​ $ 25,866 collectively evaluated for impairment ​ 267,556 ​ 829,184 ​ 72,250 ​ 64,021 ​ 13,588 ​ 18,963 ​ 1,265,562 Total ending loans balance ​ $ 268,508 ​ $ 852,707 ​ $ 72,250 ​ $ 65,248 ​ $ 13,638 ​ $ 19,077 ​ $ 1,291,428 ​
Schedule of average recorded investment and interest income of loans individually evaluated for impairment recognized by class of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid ​ ​ Allowance for Average Interest Cash Basis ​ ​ Principal ​ Recorded ​ Loan Losses ​ Recorded ​ Income ​ Interest ​ ​ Balance ​ Investment ​ Allocated ​ Investment ​ Recognized ​ Recognized December 31, 2022 ​ ​ ​ ​ ​ ​ With no related allowance recorded ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Commercial real estate ​ 17,884 ​ 17,316 ​ — ​ 17,622 ​ 633 ​ 633 Commercial real estate construction ​ — ​ — ​ — ​ 578 ​ — ​ — Residential real estate ​ 1,266 ​ 1,254 ​ — ​ 739 ​ 20 ​ 20 Home equity ​ 55 ​ 51 ​ — ​ — ​ — ​ — Consumer ​ — ​ — ​ — ​ — ​ — ​ — Total ​ $ 19,205 ​ $ 18,621 ​ $ — ​ $ 18,939 ​ $ 653 ​ $ 653 With an allowance recorded: ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 1,011 ​ $ 1,003 ​ $ 653 ​ $ 7,516 ​ $ 209 ​ $ 209 Commercial real estate ​ 5,665 ​ 5,640 ​ 380 ​ 2,274 ​ 119 ​ 119 Commercial real estate construction ​ — ​ — ​ — ​ — ​ — ​ — Residential real estate ​ — ​ — ​ — ​ — ​ — ​ — Home equity ​ — ​ — ​ — ​ — ​ — ​ — Consumer ​ 104 ​ 104 ​ — ​ 109 ​ 6 ​ 6 Total ​ $ 6,780 ​ $ 6,747 ​ $ 1,033 ​ $ 9,899 ​ $ 334 ​ $ 334 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid ​ ​ Allowance for Average Interest Cash Basis ​ ​ Principal ​ Recorded ​ Loan Losses ​ Recorded ​ Income ​ Interest ​ ​ Balance ​ Investment ​ Allocated ​ Investment ​ Recognized ​ Recognized December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ With no related allowance recorded ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 1 ​ $ 1 ​ $ — ​ $ 187 ​ $ 11 ​ $ 11 Commercial real estate ​ 14,291 ​ 13,953 ​ — ​ 12,053 ​ 555 ​ 555 Commercial real estate construction ​ — ​ — ​ — ​ 578 ​ — ​ — Residential real estate ​ 1,155 ​ 1,155 ​ — ​ 639 ​ 33 ​ 33 Home equity ​ 50 ​ 50 ​ — ​ 25 ​ — ​ — Consumer ​ — ​ — ​ — ​ — ​ — ​ — Total ​ $ 15,497 ​ $ 15,159 ​ $ — ​ $ 13,482 ​ $ 599 ​ $ 599 With an allowance recorded: ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 951 ​ $ 951 ​ $ 137 ​ $ 1,420 ​ $ 82 ​ $ 82 Commercial real estate ​ 9,593 ​ 9,570 ​ 1,272 ​ 9,587 ​ 357 ​ 357 Commercial real estate construction ​ — ​ — ​ — ​ — ​ — ​ — Residential real estate ​ 84 ​ 72 ​ — ​ 76 ​ 3 ​ 3 Home equity ​ — ​ — ​ — ​ — ​ — ​ — Consumer ​ 114 ​ 114 ​ 24 ​ 119 ​ 6 ​ 6 Total ​ $ 10,742 ​ $ 10,707 ​ $ 1,433 ​ $ 11,202 ​ $ 448 ​ $ 448 ​
Schedule of recorded investment in non-accrual and loans past due over 90 days still on accrual by class of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans Past Due Over 90 Days ​ ​ ​ Non-accrual ​ Still Accruing ​ ​ December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 ​ Commercial and industrial ​ $ 1,003 ​ $ — ​ $ 1,850 ​ $ 720 ​ Commercial real estate ​ 3,882 ​ 3,928 ​ — ​ 465 ​ Commercial real estate construction ​ — ​ — ​ — ​ — ​ Residential real estate ​ 1,188 ​ 578 ​ — ​ — ​ Home equity ​ 51 ​ 50 ​ — ​ — ​ Consumer ​ — ​ 4 ​ 477 ​ 208 ​ Total ​ $ 6,124 ​ $ 4,560 ​ $ 2,327 ​ $ 1,393 ​ ​
Schedule of aging of the recorded investment in past-due loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30-59 Days 60-89 Days Greater Than Total Loans ​ ​ Past Due ​ Past Due ​ 90 Days ​ Past Due ​ Not Past Due December 31, 2022 ​ ​ ​ ​ ​ Commercial and industrial ​ $ 1,497 ​ $ 1,583 ​ $ 2,854 ​ $ 5,934 ​ $ 252,967 Commercial real estate ​ 563 ​ — ​ 952 ​ 1,515 ​ 1,096,539 Commercial real estate construction ​ — ​ — ​ — ​ — ​ 109,570 Residential real estate ​ 2 ​ — ​ 1,188 ​ 1,190 ​ 73,087 Home equity ​ — ​ — ​ — ​ — ​ 12,329 Consumer ​ 584 ​ 634 ​ 476 ​ 1,694 ​ 14,605 Total ​ $ 2,646 ​ $ 2,217 ​ $ 5,470 ​ $ 10,333 ​ $ 1,559,097 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30-59 Days 60-89 Days Greater Than Total Loans ​ ​ Past Due ​ Past Due ​ 90 Days ​ Past Due ​ Not Past Due December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 541 ​ $ 1,519 ​ $ 720 ​ $ 2,780 ​ $ 265,728 Commercial real estate ​ — ​ 2,873 ​ 1,161 ​ 4,034 ​ 848,673 Commercial real estate construction ​ — ​ — ​ — ​ — ​ 72,250 Residential real estate ​ 26 ​ — ​ 578 ​ 604 ​ 64,644 Home equity ​ — ​ 58 ​ 50 ​ 108 ​ 13,530 Consumer ​ 1,134 ​ 292 ​ 212 ​ 1,638 ​ 17,439 Total ​ $ 1,701 ​ $ 4,742 ​ $ 2,721 ​ $ 9,164 ​ $ 1,282,264 ​
Schedule of risk category of loans by class of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Mention ​ Substandard ​ Doubtful ​ Loss ​ Total December 31, 2022 ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 256,939 ​ $ 575 ​ $ 1,387 ​ $ — ​ $ — ​ $ 258,901 Commercial real estate ​ 1,074,952 ​ 7,399 ​ 15,703 ​ — ​ — ​ 1,098,054 Commercial real estate construction ​ 109,570 ​ — ​ — ​ — ​ — ​ 109,570 Residential real estate ​ 73,089 ​ — ​ 1,188 ​ — ​ — ​ 74,277 Home equity ​ 12,278 ​ — ​ 51 ​ — ​ — ​ 12,329 Consumer ​ 16,195 ​ — ​ 104 ​ — ​ — ​ 16,299 Total ​ $ 1,543,023 ​ $ 7,974 ​ $ 18,433 ​ $ — ​ $ — ​ $ 1,569,430 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ Mention ​ Substandard ​ Doubtful ​ Loss ​ Total December 31, 2021 ​ ​ ​ ​ ​ ​ Commercial and industrial ​ $ 252,268 ​ $ 4,156 ​ $ 12,084 ​ $ — ​ $ — ​ $ 268,508 Commercial real estate ​ 835,787 ​ 679 ​ 16,241 ​ — ​ — ​ 852,707 Commercial real estate construction ​ 72,250 ​ — ​ — ​ — ​ — ​ 72,250 Residential real estate ​ 64,094 ​ — ​ 1,154 ​ — ​ — ​ 65,248 Home equity ​ 13,588 ​ 50 ​ — ​ — ​ — ​ 13,638 Consumer ​ 18,963 ​ — ​ 114 ​ — ​ — ​ 19,077 Total ​ $ 1,256,950 ​ $ 4,885 ​ $ 29,593 ​ $ — ​ $ — ​ $ 1,291,428
Schedule of loans to certain directors and principal officers	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Balance, beginning of year ​ $ 5,076 ​ $ 5,392 Additions ​ 11,876 ​ — Repayments ​ (61) ​ (316) Balance, end of year ​ $ 16,891 ​ $ 5,076

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value
Summary of assets and liabilities measured at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using: ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Significant Other ​ Significant ​ ​ Total at ​ for Identical ​ Observable ​ Unobservable ​ ​ December 31, ​ Assets ​ Inputs ​ Inputs ​ ​ 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) U.S. government agencies and treasuries $ 93,750 ​ $ — ​ $ 93,750 ​ $ — Mortgage-backed securities ​ 316,915 ​ — ​ 316,915 ​ — Corporate securities ​ 25,658 ​ — ​ 25,658 ​ — Obligations of states and political subdivisions ​ 97,138 ​ — ​ 97,138 ​ — Total securities available-for-sale ​ $ 533,461 ​ $ — ​ $ 533,461 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using: ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Significant Other ​ Significant ​ ​ Total at ​ for Identical ​ Observable ​ Unobservable ​ ​ December 31, ​ Assets ​ Inputs ​ Inputs ​ ​ 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) U.S. government agencies ​ 79,706 ​ $ — ​ $ 79,706 ​ $ — Mortgage-backed securities ​ 270,432 ​ — ​ 270,432 ​ — Corporate securities ​ ​ 20,211 ​ ​ — ​ ​ 20,211 ​ ​ — Obligations of states and political subdivisions ​ 94,448 ​ — ​ 94,448 ​ — Total securities available-for-sale ​ $ 464,797 ​ $ — ​ $ 464,797 ​ $ — ​
Schedule of assets measured at fair value on a non-recurring	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using: ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Significant Other ​ Significant ​ ​ Total at ​ for Identical ​ Observable ​ Unobservable ​ ​ December 31, ​ Assets ​ Inputs ​ Inputs ​ ​ 2022 ​ (Level 1) ​ (Level 2) ​ (Level 3) Impaired loans ​ $ 204 ​ $ — ​ $ — ​ $ 204 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements Using: ​ ​ ​ ​ ​ Quoted Prices ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Other ​ Significant ​ ​ Total at ​ Markets for ​ Observable ​ Unobservable ​ December 31, 2021 Identical Assets Inputs Inputs ​ ​ ​ (Level 1) ​ (Level 2) ​ (Level 3) Impaired loans ​ $ 6,689 ​ $ — ​ $ — ​ $ 6,689 ​
Schedule of level 3 fair value measured at fair value on a non-recurring	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value ​ ​ Range December 31, 2022 ​ Value Valuation Technique ​ Unobservable Input ​ (Weighted Average) Impaired loans - ​ $ 204 Appraisal of collateral (1) Appraisal and liquidation 20% ​ ​ ​ ​ ​ ​ ​ ​ adjustments (2) ​ (20%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Range December 31, 2021 ​ Value ​ Valuation Technique ​ Unobservable Input ​ (Weighted Average) Impaired loans - ​ $ 6,689 ​ Appraisal of collateral (1) ​ Appraisal and liquidation ​ 20%-56% ​ ​ ​ ​ ​ ​ ​ ​ adjustments (2) ​ (39%) ​ (1) Fair value is generally determined through independent appraisals of the underlying collateral that generally include various level 3 inputs which are not identifiable. (2) Appraisals may be adjusted downward by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. ​
Summary of carrying amounts and estimated fair values of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 ​ Carrying Fair ​ ​ ​ ​ ​ ​ ​ ​ Amount ​ Value ​ Level 1 ​ Level 2 ​ Level 3 Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 86,081 ​ $ 86,081 ​ $ 86,081 ​ $ — ​ $ — Loans, net ​ 1,547,598 ​ 1,503,543 ​ — ​ — ​ 1,503,543 Accrued interest receivable ​ 6,320 ​ 6,320 ​ — ​ 2,448 ​ 3,872 Restricted investment in bank stocks ​ 9,562 ​ NA ​ — ​ — ​ — Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 1,974,387 ​ 1,972,387 ​ 1,881,354 ​ 91,033 ​ — Subordinated notes, net of issuance costs ​ 19,447 ​ 19,682 ​ — ​ 19,682 ​ — Accrued interest payable ​ 267 ​ 267 ​ — ​ 267 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ Carrying Fair ​ ​ ​ ​ ​ ​ ​ ​ Amount ​ Value ​ Level 1 ​ Level 2 ​ Level 3 Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 306,179 ​ $ 306,179 ​ $ 306,179 ​ $ — ​ $ — Loans, net ​ 1,273,767 ​ 1,260,146 ​ — ​ — ​ 1,260,146 Accrued interest receivable ​ 6,643 ​ 6,643 ​ — ​ 1,603 ​ 5,040 Restricted investment in bank stocks ​ 2,217 ​ NA ​ — ​ — ​ — Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ 1,914,384 ​ 1,914,271 ​ 1,831,944 ​ 82,327 ​ — Note payable ​ 3,000 ​ 3,030 ​ — ​ 3,030 ​ — Subordinated notes, net of issuance costs ​ 19,376 ​ 18,867 ​ — ​ 18,867 ​ — Accrued interest payable ​ 250 ​ 250 ​ — ​ 250 ​ —

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Premises and Equipment
Schedule of premises and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Land ​ $ 3,152 ​ $ 3,152 Buildings and improvements ​ 13,741 ​ 12,714 Furniture and equipment ​ 7,436 ​ 7,053 Leasehold improvements ​ 6,874 ​ 6,737 ​ ​ 31,203 ​ 29,656 Accumulated depreciation and amortization ​ (16,464) ​ (15,055) Premises and equipment, net ​ $ 14,739 ​ $ 14,601 ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets
Schedule of changes in Goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Beginning of year ​ $ 5,359 ​ $ 5,359 Acquired goodwill impairment ​ — ​ — End of year ​ $ 5,359 ​ $ 5,359 ​
Schedule of acquired intangible assets	​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ Intangible ​ Accumulated ​ ​ Asset ​ Amortization December 31, 2022 ​ ​ ​ ​ ​ Customer lists and intangible assets ​ $ 4,284 (2,892) ​ ​ $ 4,284 (2,892) December 31, 2021 ​ Customer lists and intangible assets ​ $ 4,284 (2,606) ​ ​ $ 4,284 (2,606) ​

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2022
Deposits
Summary of analysis of deposits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2022 December 31, 2021 ​ Non-interest bearing demand accounts ​ $ 723,228 ​ $ 701,645 ​ Interest-bearing demand accounts ​ 284,747 ​ 301,596 ​ Money market accounts ​ 615,149 ​ 615,111 ​ Savings accounts ​ 258,230 ​ 213,592 ​ Certificates of Deposit ​ 93,033 ​ 82,440 ​ Total deposits ​ $ 1,974,387 ​ $ 1,914,384 ​ ​
Schedule of maturities of time deposits	​ ​ ​ ​ ​ 2023 $ 80,728 2024 ​ ​ 4,326 2025 ​ 7,979 ​ ​ $ 93,033 ​

FHLB Advances (Tables)

FHLB Advances (Tables)	12 Months Ended
	Dec. 31, 2022
FHLB Advances
Schedule of FHLB Advances	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ Amount Rate Amount Rate Federal Home Loan Bank (FHLB) advances ​ $ 131,500 4.61 % $ — — % ​

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2022
Borrowings
Schedule of notes payable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ Amount Rate Amount Rate Note payable ​ $ — — % $ 3,000 5.60 % ​

Pension and other Post Retire_2

Pension and other Post Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2022
Pension and other Post Retirement Plans
Schedule of discretionary contributions	​ ​ ​ ​ Percentage of Participant Age Range Compensation ​ ​ 1.0 % Under age 35 2.0 % 35 years 5.0 % 45 years 8.5 % 55 years of age or older ​
Restricted Stock Awards
Pension and other Post Retirement Plans
Summary of restricted stock awards activity	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average Fair ​ ​ Shares ​ Value Non-vested at beginning of period 22,922 ​ $ 28.92 Granted — ​ $ ​ Vested (11,245) ​ $ 28.59 Forfeited — ​ $ ​ Non-vested at end of period 11,677 ​ $ 29.24 ​
Restricted Stock Units (RSUs)
Pension and other Post Retirement Plans
Summary of restricted stock awards activity	​ ​ ​ ​ ​ ​ Restricted Stock Units Non-vested RSUs at beginning of period 48,004 Granted 26,255 Vested (11,637) Forfeited (2,875) Non-vested RSUs at end of period 59,747
Defined benefit pension plan
Pension and other Post Retirement Plans
Schedule of changes in obligations and plan assets	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Change in projected benefit obligation: ​ ​ Beginning of year ​ $ 28,221 ​ $ 29,428 Service cost ​ — ​ 189 Interest cost ​ 808 ​ 760 Benefits paid ​ (1,438) ​ (1,556) Actuarial loss ​ (6,302) ​ (600) End of year ​ $ 21,289 ​ $ 28,221 ​ ​ ​ ​ ​ ​ ​ Change in fair value of assets: ​ ​ Beginning of year ​ $ 42,867 ​ $ 39,963 Contributions ​ 1,453 ​ 2,000 Actual return on plan assets ​ (10,888) ​ 2,501 Benefits paid and expenses ​ (1,654) ​ (1,597) End of year ​ $ 31,778 ​ $ 42,867 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Funded status at end of year (plan assets less benefit obligation) ​ $ 10,489 ​ $ 14,646 ​
Schedule of amounts recognized in accumulated other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Total net actuarial loss ​ $ (10,308) ​ $ (3,521) Transition asset ​ — ​ 28 ​ ​ $ (10,308) ​ $ (3,493) ​
Schedule of components of net periodic benefit cost and other amounts recognized in other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2022 2021 Service cost ​ $ — ​ $ 189 Interest cost ​ 808 ​ 760 Expected return on plan assets ​ (1,985) ​ (2,058) Amortization of transition cost ​ (28) ​ (48) Amortization of net loss ​ — ​ 21 Net periodic benefit cost/(income) ​ $ (1,205) ​ $ (1,136) Net gain/(loss) ​ $ 6,786 ​ $ (1,002) Amortization of transition asset ​ 28 ​ 48 Amortization of prior service cost ​ — ​ (21) Total recognized in other comprehensive income ​ $ 6,814 ​ (975) Total recognized in net periodic benefit cost and other comprehensive income ​ $ 5,609 ​ $ (2,111) ​
Schedule of assumptions	​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Discount rate 5.44 % 2.94 % Rate of compensation increase — % — % ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Discount rate 2.94 % 2.65 % Expected long-term rate of return on plan assets 5.25 % 5.25 % Rate of compensation increase — % — % ​
Schedule of plan asset allocation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ Target Actual Target Actual ​ ​ Allocation ​ Allocation ​ Allocation ​ Allocation Asset category: ​ Cash equivalents — % 16.59 % — % — % Equity securities 30.00 % 25.05 % 30.00 % 35.65 % Fixed income securities 15.00 % 21.70 % 15.00 % 34.98 % Other financial instruments 55.00 % 36.66 % 55.00 % 29.37 % Total 100.00 % 100.00 % ​
Schedule of fair value of plan assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at ​ ​ December 31, 2022 Using: ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant Other ​ Significant ​ ​ ​ ​ ​ Markets for ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Identical Assets ​ Inputs ​ Inputs ​ ​ Total ​ (Level 1) ​ (Level 2) ​ (Level 3) Commingled pension trust funds-realty ​ 31,778 ​ — ​ 31,778 ​ — Total plan assets ​ $ 31,778 ​ $ — ​ $ 31,778 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements at ​ ​ December 31, 2021 Using: ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant Other ​ Significant ​ ​ ​ ​ ​ Markets for ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Identical Assets ​ Inputs ​ Inputs ​ ​ Total ​ (Level 1) ​ (Level 2) ​ (Level 3) Commingled pension trust funds-realty ​ 42,867 ​ — ​ 42,867 ​ — Total plan assets ​ $ 42,867 ​ $ — ​ $ 42,867 ​ $ — ​
Schedule of future benefit payments	​ ​ ​ ​ ​ ​ Pension ​ ​ Benefits 2023 ​ $ 1,603 2024 ​ 1,635 2025 ​ 1,617 2026 ​ 1,617 2027 ​ 1,572 Following 5 years ​ $ 7,617 ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes
Schedule of income tax expense	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Current expense ​ ​ ​ ​ ​ ​ Federal ​ $ 6,488 $ 5,353 State ​ 384 ​ 440 Total ​ 6,872 ​ 5,793 Deferred expense (benefit) ​ ​ ​ ​ ​ ​ Federal ​ (934) ​ (326) State ​ (410) ​ (630) Total ​ (1,344) ​ (956) Change in valuation allowance ​ 386 ​ 553 Total provision for income taxes ​ $ 5,914 $ 5,390 ​
Schedule of income tax reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Tax expense at statutory rate ​ $ 6,356 ​ $ 5,602 (Decrease) increase in taxes resulting from: ​ ​ Net earnings on bank-owned life insurance ​ (200) ​ (167) Tax-exempt municipal bond income, net of disallowed interest expense ​ (465) ​ (329) State income tax, net of federal tax benefit ​ (26) ​ 209 Valuation allowance ​ 386 ​ 553 Other ​ (137) ​ (478) Total provision for income tax ​ $ 5,914 ​ $ 5,390 ​
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Deferred tax assets: ​ ​ ​ ​ Allowance for loan losses ​ $ 5,991 $ 4,824 Reserve for unfunded commitments ​ 55 ​ 55 Deferred loan fees, net of costs ​ 1,130 ​ 962 Deferred compensation ​ 2,420 ​ 2,431 Available for sale securities ​ ​ 16,063 ​ ​ 293 Non-accrual interest ​ 298 ​ 336 State NOL ​ 2,476 ​ 2,284 Pension/deferred compensation OCI ​ 2,463 ​ 894 ​ ​ 30,896 ​ 12,079 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Deferred tax liabilities: ​ ​ Intangible assets ​ (1,004) ​ (902) Organization costs – holding company ​ (24) ​ (22) Organization costs – HVIA ​ (26) ​ (23) Pension ​ (2,797) ​ (2,717) Accumulated depreciation ​ (517) ​ (681) Accretion ​ (39) ​ (16) ​ ​ (4,407) ​ (4,361) Net deferred tax asset before valuation allowance ​ 27,089 ​ 7,718 Valuation allowance ​ (7,993) ​ (3,629) Net deferred tax asset ​ $ 19,096 ​ $ 4,089 ​

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss).
Summary of changes in accumulated other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2022 ​ ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Losses on ​ ​ ​ ​ Deferred ​ ​ ​ ​ Available-for- ​ Defined Benefit ​ Compensation ​ ​ ​ ​ Sale Securities ​ Pension Items ​ Liability ​ Total Beginning balance ​ $ (1,072) ​ $ (2,506) ​ $ 135 ​ $ (3,443) Other comprehensive income/(loss) before reclassification ​ (59,358) ​ (5,361) ​ (12) ​ (64,731) Less amounts reclassified from accumulated other comprehensive income ​ — ​ 22 ​ — ​ 22 Net current period other comprehensive income/(loss) ​ (59,358) ​ (5,383) ​ (12) ​ (64,753) Ending balance ​ $ (60,430) ​ $ (7,889) ​ $ 123 $ (68,196) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2021 ​ ​ Unrealized ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains and ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Losses on ​ ​ ​ ​ Deferred ​ ​ ​ ​ Available-for- ​ Defined Benefit ​ Compensation ​ ​ ​ ​ Sale Securities ​ Pension Items ​ Liability ​ Total Beginning balance ​ $ 4,949 ​ $ (3,277) ​ $ 147 ​ $ 1,819 Other comprehensive income/(loss) before reclassification ​ (6,021) ​ 792 ​ (12) ​ (5,241) Less amounts reclassified from accumulated other comprehensive income ​ — ​ 21 ​ — ​ 21 Net current period other comprehensive income/(loss) ​ (6,021) ​ 771 ​ (12) ​ (5,262) Ending balance ​ $ (1,072) ​ $ (2,506) ​ $ 135 ​ $ (3,443) ​
Summary of significant amounts reclassified out of each component of accumulated other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount Reclassified from ​ ​ Details about Accumulated Other ​ Accumulated Other Comprehensive ​ Affected Line Item in the Statement Comprehensive Income Components Income ​ where Net Income is Presented ​ 2022 2021 ​ Amortization of defined benefit pension items ​ ​ Transition asset ​ (28) ​ (48) Employee benefits Actuarial gains ​ $ — ​ $ 21 Employee benefits Total before tax ​ (28) ​ (27) Tax effect ​ (6) ​ (6) Provision for income taxes Net of tax ​ $ (22) ​ $ (21) Total reclassifications for the period, net of tax ​ $ (22) ​ $ (21)

Regulatory Capital Matters (Tab

Regulatory Capital Matters (Tables)	12 Months Ended
	Dec. 31, 2022
Regulatory Capital Matters
Schedule of actual and required capital amounts and ratios	Actual and required capital amounts and ratios are presented below at year-end. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To be Well Capitalized ​ ​ ​ ​ ​ ​ ​ For Capital Adequacy ​ For Capital Adequacy ​ under Prompt ​ ​ Actual ​ Purposes ​ Purposes with Capital Buffer ​ Corrective Action Provisions ​ Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total capital to risk weighted assets ​ $ 235,346 13.95 % $ 134,986 8.00 % $ 166,624 9.875 % $ 168,733 10.00 % Tier 1 (Core) capital to risk weighted assets ​ 214,243 12.70 % 101,240 6.00 % 132,877 7.875 % 134,986 8.00 % Common Tier 1 (CET1) to risk weighted assets ​ 214,243 12.70 % 75,930 4.50 % 107,567 6.375 % 109,677 6.50 % Tier 1 (Core) Capital to average assets ​ 214,243 9.09 % 94,250 4.00 % N/A N/A ​ 117,813 5.00 % December 31, 2021 ​ ​ ​ ​ ​ Total capital to risk weighted assets ​ $ 192,359 14.12 % $ 109,000 8.00 % $ 134,546 9.875 % $ 136,250 10.00 % Tier 1 (Core) capital to risk weighted assets ​ 175,318 12.87 % 81,750 6.00 % 107,296 7.875 % 109,000 8.00 % Common Tier 1 (CET1) to risk weighted assets ​ 175,318 12.87 % 61,312 4.50 % 86,859 6.375 % 88,562 6.50 % Tier 1 (Core) Capital to average assets ​ 175,318 8.15 % 86,093 4.00 % N/A N/A ​ 107,616 5.00 %

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases
Schedule of future minimum lease payments under lease agreements	Future undiscounted lease payments for operating leases with initial terms of one year or more as of December 31, 2022 are as follows: ​ ​ ​ ​ ​ ​ Years Ending December 31, ​ ​ 2023 ​ $ 878 ​ 2024 ​ 831 ​ 2025 ​ 762 ​ 2026 ​ 711 ​ 2027 ​ 497 ​ Thereafter ​ 515 ​ Total undiscounted lease payments ​ $ 4,194 ​ Discount ​ $ 165 ​ Total discounted lease payments ​ $ 4,029 ​ Operating lease weighted average remaining lease term (years) ​ 5.46 years Operating lease weighted average discount rate ​ 3.38 % ​

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contracts with Customers
Schedule of noninterest income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2022 ​ 2021 ​ Noninterest Income ​ ​ ​ ​ ​ ​ ​ Service charges on deposit accounts ​ ​ ​ ​ ​ ​ ​ Overdraft fees ​ $ 328 ​ $ 279 ​ Other ​ ​ 365 ​ ​ 359 ​ Trust income ​ 4,764 ​ 4,788 ​ Investment advisory income ​ 4,537 ​ 4,853 ​ Earnings on bank owned life insurance (a) ​ 950 ​ 793 ​ Other (b) ​ 1,052 ​ 1,030 ​ Total Noninterest Income ​ $ 11,996 ​ $ 12,102 ​ (a) Not within the scope of ASC 606. (b) The Other category includes safe deposit income, checkbook fees, and debit card fee income, totaling $913 and $805 for 2022 and 2021, respectively, that are within the scope of ASC 606 and loan related fee income and miscellaneous income, totaling $139 and $225 for 2022 and 2021, respectively, which are outside the scope of ASC 606.

Financial Instruments with Of_2

Financial Instruments with Off-Balance Sheet Risk (Tables)	12 Months Ended
	Dec. 31, 2022
Financial Instruments with Off-Balance Sheet Risk
Summary of Bank's Commitments	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Commitments to extend credit ​ $ 389,062 ​ $ 373,268 Standby letters of credit ​ 13,552 ​ 11,501

Parent Company Information (Tab

Parent Company Information (Tables)	12 Months Ended
	Dec. 31, 2022
Parent Company Information
Schedule of Condensed Statements of Condition	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2022 2021 Assets ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 4,596 ​ $ 24,441 Investment in subsidiaries ​ 152,214 ​ 179,487 Goodwill and intangible assets ​ 1,564 ​ 1,850 Other assets ​ 366 ​ 211 Total assets ​ $ 158,740 ​ $ 205,989 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2022 2021 Liabilities and stockholders’ equity ​ ​ ​ ​ ​ ​ Subordinated notes, net of issuance costs ​ $ 19,447 ​ $ 19,376 Note payable ​ — ​ 3,000 Other liabilities ​ 1,155 ​ 777 Total liabilities ​ 20,602 ​ 23,153 Total stockholders’ equity ​ 138,138 ​ 182,836 Total liabilities and stockholders’ equity ​ $ 158,740 ​ $ 205,989 ​
Schedule of Condensed Statements of Income and Comprehensive Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, ​ 2022 2021 Operating Income ​ ​ ​ ​ ​ ​ Dividend income from operating subsidiaries ​ $ 6,792 ​ $ 5,329 Servicing Fee ​ ​ 553 ​ ​ 372 Total operating income ​ 7,345 ​ 5,701 Operating Expenses ​ ​ ​ ​ ​ ​ Interest on borrowings ​ 1,077 ​ 1,087 Salaries and employee benefits ​ 553 ​ 372 Professional fees ​ 413 ​ 172 Directors’ fees and expenses ​ 162 ​ 189 Intangible amortization ​ 286 ​ 286 Other expenses and income taxes ​ (28) ​ 59 Total operating expenses ​ 2,463 ​ 2,165 Equity in undistributed earnings of subsidiary ​ 19,481 ​ 17,751 Net income ​ $ 24,363 ​ $ 21,287 Comprehensive income ​ $ (40,390) ​ $ 16,025 ​
Schedule of Condensed Statements of Cash Flows	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, ​ 2022 2021 Cash flows from operating activities ​ ​ ​ ​ ​ ​ Net income after equity in undistributed earnings of subsidiary ​ $ 24,363 ​ $ 21,287 Adjustments to reconcile net income to net cash provided by operating activities ​ ​ Equity in undistributed earnings of subsidiary companies ​ (19,481) ​ (17,751) Stock-based compensation ​ 503 ​ 69 Amortization of intangibles ​ 286 ​ 286 Restricted stock expense ​ 166 ​ 475 Other, net ​ 295 ​ (198) Net cash provided by (used in) operating activities ​ 6,132 ​ 4,168 Cash flows from investing activities ​ ​ ​ ​ ​ ​ Investment in operating subsidiary ​ ​ (18,000) ​ ​ (21,500) Net cash used in investing activities ​ ​ (18,000) ​ ​ (21,500) Cash flows from financing activities ​ ​ ​ ​ ​ ​ Proceeds from the issuance of common stock (net of costs) ​ ​ — ​ ​ 35,252 Repayment of note payable ​ ​ (3,000) ​ ​ — Issuance of subordinated notes, net of issuance costs ​ ​ ​ ​ ​ — Dividends paid, common stock ​ ​ (4,669) ​ ​ (4,029) Purchases of treasury stock ​ ​ (308) ​ ​ (379) Net cash (used in) provided by financing activities ​ ​ (7,977) ​ ​ 30,844 Net increase in cash and cash equivalents ​ ​ (19,845) ​ ​ 13,512 Cash and cash equivalents at beginning of year ​ ​ 24,441 ​ ​ 10,929 Cash and cash equivalents at end of year ​ $ 4,596 ​ $ 24,441

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Information
Schedule of segment information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the twelve months ended December 31, 2022 ​ Banking Wealth Management Total Segments Net interest income ​ ​ $ 78,088 ​ $ — ​ $ 78,088 Noninterest income ​ ​ 2,695 ​ 9,301 ​ 11,996 Provision for loan loss ​ ​ (9,517) ​ — ​ (9,517) Noninterest expenses ​ ​ (42,898) ​ (7,392) ​ (50,290) Income tax expense ​ ​ (5,513) ​ (401) ​ (5,914) Net income ​ ​ $ 22,855 ​ $ 1,508 ​ $ 24,363 Total assets ​ ​ $ 2,279,469 ​ $ 7,865 ​ $ 2,287,334 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the twelve months ended December 31, 2021 ​ Banking Wealth Management Total Segments Net interest income ​ ​ $ 60,461 ​ $ — ​ $ 60,461 Noninterest income ​ ​ 2,461 ​ 9,641 ​ 12,102 Provision for loan loss ​ ​ (2,428) ​ — ​ (2,428) Noninterest expenses ​ ​ (36,736) ​ (6,722) ​ (43,458) Income tax expense ​ ​ (4,777) ​ (613) ​ (5,390) Net income ​ ​ $ 18,981 ​ $ 2,306 ​ $ 21,287 Total assets ​ ​ $ 2,133,440 ​ ​ 9,143 ​ $ 2,142,583

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Nature of Operations and Principles of Consolidation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) location	Dec. 31, 2021 USD ($)
Loans
Assets held in an agency or fiduciary capacity | $	$ 1,272,498	$ 1,325,894
Orange County
Loans
Number of offices in New York	8
Westchester County
Loans
Number of offices in New York	7
Rockland County
Loans
Number of offices in New York	2
Bronx County
Loans
Number of offices in New York	1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Lending (Details)	12 Months Ended
	Dec. 31, 2022
Commercial real estate. | Commercial real estate | Maximum
Loans
Maturity period	15 years
Amortization period	30 years
Loan To Value ratio	75%
Residential real estate. | Residential real estate
Loans
Threshold percentage for private mortgage insurance	80%
Residential real estate. | Residential real estate | Maximum
Loans
Maturity period	30 years
Loan To Value ratio	80%
Residential real estate. | Home equity
Loans
Draw period	10 years
Repayment period	15 years
Residential real estate. | Home equity | Maximum
Loans
Maturity period	15 years
Loan To Value ratio	85%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Premises and Equipment (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based payments
Unvested shares	11,677	22,922
Buildings and improvements | Minimum
Premises and Equipment
Useful life	5 years
Buildings and improvements | Maximum
Premises and Equipment
Useful life	50 years
Furniture and equipment | Minimum
Premises and Equipment
Useful life	3 years
Furniture and equipment | Maximum
Premises and Equipment
Useful life	8 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($)	Jan. 01, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Recent Accounting Pronouncements
Operating lease right-of-use assets		$ 4,029,000	$ 3,038,000
Operating lease liability		4,029,000	3,038,000
Financing receivable allowance for credit loss		$ 21,832,000	$ 17,661,000	$ 16,172,000
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Recent Accounting Pronouncements
Financing receivable allowance for credit loss	$ 3,000,000
Financing receivable allowance for credit loss after tax	2,400,000
Allowance for unfunded commitments	500,000
Allowance for unfunded commitments after tax	400,000
Security allowance for credit loss	$ 0

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Correction of Prior Period Error (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies
Total loans	$ 1,569,430	$ 1,291,428
Total stockholders' equity	138,138	182,836	$ 135,423
Interest and fees on loans	69,327	57,524
Salaries and employee benefits	22,461	19,710
Income tax expense	5,914	5,390
Net Income	$ 24,363	$ 21,287
Basic earnings per share	$ 4.33	$ 4.28
Diluted earnings per share	$ 4.33	$ 4.28

Investment Securities (Details)

Investment Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Investment securities
Amortized Cost	$ 609,954	$ 466,153
Unrealized Gains	90	4,152
Unrealized Losses	(76,583)	(5,508)
Fair Value	533,461	464,797
U.S. government agencies and treasuries
Investment securities
Amortized Cost	104,734	80,596
Unrealized Gains	25	440
Unrealized Losses	(11,009)	(1,330)
Fair Value	93,750	79,706
Mortgage-backed securities
Investment securities
Amortized Cost	364,690	272,931
Unrealized Gains	17	1,285
Unrealized Losses	(47,792)	(3,784)
Fair Value	316,915	270,432
Corporate Bonds
Investment securities
Amortized Cost	28,559	20,081
Unrealized Gains		278
Unrealized Losses	(2,901)	(148)
Fair Value	25,658	20,211
Obligations of states and political subdivisions
Investment securities
Amortized Cost	111,971	92,545
Unrealized Gains	48	2,149
Unrealized Losses	(14,881)	(246)
Fair Value	$ 97,138	$ 94,448

Investment Securities - Gains a

Investment Securities - Gains and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Investment Securities
Proceeds	$ 0	$ 0

Investment Securities - Contrac

Investment Securities - Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Amortized Cost
Due in one year or less, Amortized Cost	$ 3,146
Due after one through five years, Amortized Cost	26,075
Due after five through ten years, Amortized Cost	70,970
Due after ten years, Amortized Cost	145,073
Total, Amortized Cost	245,264
Amortized Cost	609,954	$ 466,153
Fair Value
Due in one year or less, Fair Value	3,161
Due after one through five years, Fair Value	25,112
Due after five through ten years, Fair Value	62,609
Due after ten years, Fair Value	125,664
Total, Fair Value	216,546
Total debt securities, Fair Value	533,461	464,797
Mortgage-backed securities
Amortized Cost
Amortized Cost	364,690	272,931
Fair Value
Total debt securities, Fair Value	316,915	270,432
Debt securities pledged as collateral	$ 323,674	$ 233,907

Investment Securities - Securit

Investment Securities - Securities with unrealized and unrecognized losses (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Investment securities
Fair Value, Less than 12 Months	$ 267,396	$ 210,546
Fair Value, 12 Months or More	252,688	49,642
Fair Value, Total	520,084	260,188
Unrealized Losses, Less than 12 Months	(22,323)	(3,680)
Unrealized Losses, 12 Months or More	(54,260)	(1,828)
Unrealized Losses, Total	(76,583)	(5,508)
U.S. government agencies and treasuries
Investment securities
Fair Value, Less than 12 Months	47,064	10,337
Fair Value, 12 Months or More	41,718	32,210
Fair Value, Total	88,782	42,547
Unrealized Losses, Less than 12 Months	(2,414)	(121)
Unrealized Losses, 12 Months or More	(8,595)	(1,209)
Unrealized Losses, Total	(11,009)	(1,330)
Mortgage-backed securities
Investment securities
Fair Value, Less than 12 Months	150,542	177,506
Fair Value, 12 Months or More	165,336	14,134
Fair Value, Total	315,878	191,640
Unrealized Losses, Less than 12 Months	(12,139)	(3,273)
Unrealized Losses, 12 Months or More	(35,653)	(511)
Unrealized Losses, Total	(47,792)	(3,784)
Corporate Bonds
Investment securities
Fair Value, Less than 12 Months	12,503	9,354
Fair Value, 12 Months or More	13,155
Fair Value, Total	25,658	9,354
Unrealized Losses, Less than 12 Months	(1,007)	(148)
Unrealized Losses, 12 Months or More	(1,894)
Unrealized Losses, Total	(2,901)	(148)
Obligations of states and political subdivisions
Investment securities
Fair Value, Less than 12 Months	57,287	13,349
Fair Value, 12 Months or More	32,479	3,298
Fair Value, Total	89,766	16,647
Unrealized Losses, Less than 12 Months	(6,763)	(138)
Unrealized Losses, 12 Months or More	(8,118)	(108)
Unrealized Losses, Total	$ (14,881)	$ (246)

Investment Securities - Narrati

Investment Securities - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Investment Securities
Other than temporary impairment loss recognized | $	$ 0	$ 0
Number of securities in portfolio	296	252
Number of unrealized loss positions	264	78

Loans (Details)

Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Loans
Total loans	$ 1,569,430	$ 1,291,428
Commercial and industrial. | Commercial and industrial
Loans
Total loans	258,901	268,508
Commercial and industrial. | Paycheck Protection Program
Loans
Total loans	1,700	38,100
Commercial real estate. | Commercial real estate
Loans
Total loans	1,098,054	852,707
Commercial real estate. | Commercial real estate construction
Loans
Total loans	109,570	72,250
Residential real estate. | Residential real estate
Loans
Total loans	74,277	65,248
Residential real estate. | Home equity
Loans
Total loans	12,329	13,638
Consumer
Loans
Total loans	$ 16,299	$ 19,077

Loans - Allowance for loan loss

Loans - Allowance for loan losses by portfolio segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Allowance for loan losses:
Beginning balance	$ 17,661	$ 16,172
Provision for loan losses	9,517	2,428
Charge-offs	(5,506)	(1,267)
Recoveries	160	328
Ending balance	21,832	17,661
Allowance for loan losses:
individually evaluated for impairment	1,033	1,433
collectively evaluated for impairment	20,799	16,228
Total ending allowance balance	21,832	17,661
Loans:
individually evaluated for impairment	25,368	25,866
collectively evaluated for impairment	1,544,062	1,265,562
Total ending loans balance	1,569,430	1,291,428
Commercial and industrial. | Commercial and industrial
Allowance for loan losses:
Beginning balance	4,901	4,795
Provision for loan losses	5,505	828
Charge-offs	(4,962)	(942)
Recoveries	66	220
Ending balance	5,510	4,901
Allowance for loan losses:
individually evaluated for impairment	653	137
collectively evaluated for impairment	4,857	4,764
Total ending allowance balance	5,510	4,901
Loans:
individually evaluated for impairment	1,003	952
collectively evaluated for impairment	257,898	267,556
Total ending loans balance	258,901	268,508
Commercial and industrial. | Paycheck Protection Program
Loans:
Total ending loans balance	1,700	38,100
Commercial real estate. | Commercial real estate
Allowance for loan losses:
Beginning balance	11,183	9,782
Provision for loan losses	3,129	1,326
Recoveries	52	75
Ending balance	14,364	11,183
Allowance for loan losses:
individually evaluated for impairment	380	1,272
collectively evaluated for impairment	13,984	9,911
Total ending allowance balance	14,364	11,183
Loans:
individually evaluated for impairment	22,956	23,523
collectively evaluated for impairment	1,075,098	829,184
Total ending loans balance	1,098,054	852,707
Commercial real estate. | Commercial real estate construction
Allowance for loan losses:
Beginning balance	964	801
Provision for loan losses	288	163
Ending balance	1,252	964
Allowance for loan losses:
collectively evaluated for impairment	1,252	964
Total ending allowance balance	1,252	964
Loans:
collectively evaluated for impairment	109,570	72,250
Total ending loans balance	109,570	72,250
Residential real estate. | Residential real estate
Allowance for loan losses:
Beginning balance	272	381
Provision for loan losses	138	(98)
Charge-offs	(65)	(11)
Ending balance	345	272
Allowance for loan losses:
collectively evaluated for impairment	345	272
Total ending allowance balance	345	272
Loans:
individually evaluated for impairment	1,254	1,227
collectively evaluated for impairment	73,023	64,021
Total ending loans balance	74,277	65,248
Residential real estate. | Home equity
Allowance for loan losses:
Beginning balance	80	77
Provision for loan losses	(17)	3
Ending balance	63	80
Allowance for loan losses:
collectively evaluated for impairment	63	80
Total ending allowance balance	63	80
Loans:
individually evaluated for impairment	51	50
collectively evaluated for impairment	12,278	13,588
Total ending loans balance	12,329	13,638
Consumer
Allowance for loan losses:
Beginning balance	261	336
Provision for loan losses	474	206
Charge-offs	(479)	(314)
Recoveries	42	33
Ending balance	298	261
Allowance for loan losses:
individually evaluated for impairment		24
collectively evaluated for impairment	298	237
Total ending allowance balance	298	261
Loans:
individually evaluated for impairment	104	114
collectively evaluated for impairment	16,195	18,963
Total ending loans balance	$ 16,299	$ 19,077

Loans - Loans individually eval

Loans - Loans individually evaluated (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Unpaid Principal Balance
With no related allowance recorded	$ 19,205	$ 15,497
With an allowance recorded	6,780	10,742
Recorded Investment
With no related allowance recorded	18,621	15,159
With an allowance recorded	6,747	10,707
Allowance for Loan Losses Allocated	1,033	1,433
Average Recorded Investment
With no related allowance recorded	18,939	13,482
With an allowance recorded	9,899	11,202
Interest Income Recognized
With no related allowance recorded	653	599
With an allowance recorded	334	448
Cash Basis Interest Recognized
With no related allowance recorded	653	599
With an allowance recorded	334	448
Commercial and industrial. | Commercial and industrial
Unpaid Principal Balance
With no related allowance recorded		1
With an allowance recorded	1,011	951
Recorded Investment
With no related allowance recorded		1
With an allowance recorded	1,003	951
Allowance for Loan Losses Allocated	653	137
Average Recorded Investment
With no related allowance recorded		187
With an allowance recorded	7,516	1,420
Interest Income Recognized
With no related allowance recorded		11
With an allowance recorded	209	82
Cash Basis Interest Recognized
With no related allowance recorded		11
With an allowance recorded	209	82
Commercial real estate. | Commercial real estate
Unpaid Principal Balance
With no related allowance recorded	17,884	14,291
With an allowance recorded	5,665	9,593
Recorded Investment
With no related allowance recorded	17,316	13,953
With an allowance recorded	5,640	9,570
Allowance for Loan Losses Allocated	380	1,272
Average Recorded Investment
With no related allowance recorded	17,622	12,053
With an allowance recorded	2,274	9,587
Interest Income Recognized
With no related allowance recorded	633	555
With an allowance recorded	119	357
Cash Basis Interest Recognized
With no related allowance recorded	633	555
With an allowance recorded	119	357
Commercial real estate. | Commercial real estate construction
Average Recorded Investment
With no related allowance recorded	578	578
Residential real estate. | Residential real estate
Unpaid Principal Balance
With no related allowance recorded	1,266	1,155
With an allowance recorded		84
Recorded Investment
With no related allowance recorded	1,254	1,155
With an allowance recorded		72
Average Recorded Investment
With no related allowance recorded	739	639
With an allowance recorded		76
Interest Income Recognized
With no related allowance recorded	20	33
With an allowance recorded		3
Cash Basis Interest Recognized
With no related allowance recorded	20	33
With an allowance recorded		3
Residential real estate. | Home equity
Unpaid Principal Balance
With no related allowance recorded	55	50
Recorded Investment
With no related allowance recorded	51	50
Average Recorded Investment
With no related allowance recorded		25
Consumer
Unpaid Principal Balance
With an allowance recorded	104	114
Recorded Investment
With an allowance recorded	104	114
Allowance for Loan Losses Allocated		24
Average Recorded Investment
With an allowance recorded	109	119
Interest Income Recognized
With an allowance recorded	6	6
Cash Basis Interest Recognized
With an allowance recorded	$ 6	$ 6

Loans - Recorded investment in

Loans - Recorded investment in non-accrual and loans (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Loans
Non-accrual	$ 6,124	$ 4,560
Loans Past Due Over 90 Days Non-accrual Still Accruing	2,327	1,393
Commercial and industrial. | Commercial and industrial
Loans
Non-accrual	1,003
Loans Past Due Over 90 Days Non-accrual Still Accruing	1,850	720
Commercial real estate. | Commercial real estate
Loans
Non-accrual	3,882	3,928
Loans Past Due Over 90 Days Non-accrual Still Accruing		465
Residential real estate. | Residential real estate
Loans
Non-accrual	1,188	578
Residential real estate. | Home equity
Loans
Non-accrual	51	50
Consumer
Loans
Non-accrual		4
Loans Past Due Over 90 Days Non-accrual Still Accruing	$ 477	$ 208

Loans - Aging of the recorded i

Loans - Aging of the recorded investment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
30 - 59 Days Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	$ 2,646	$ 1,701
60 - 89 Days Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	2,217	4,742
Greater Than 90 Days
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	5,470	2,721
Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	10,333	9,164
Not Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	1,559,097	1,282,264
Commercial and industrial. | Commercial and industrial | 30 - 59 Days Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	1,497	541
Commercial and industrial. | Commercial and industrial | 60 - 89 Days Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	1,583	1,519
Commercial and industrial. | Commercial and industrial | Greater Than 90 Days
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	2,854	720
Commercial and industrial. | Commercial and industrial | Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	5,934	2,780
Commercial and industrial. | Commercial and industrial | Not Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	252,967	265,728
Commercial real estate. | Commercial real estate | 30 - 59 Days Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	563
Commercial real estate. | Commercial real estate | 60 - 89 Days Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans		2,873
Commercial real estate. | Commercial real estate | Greater Than 90 Days
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	952	1,161
Commercial real estate. | Commercial real estate | Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	1,515	4,034
Commercial real estate. | Commercial real estate | Not Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	1,096,539	848,673
Commercial real estate. | Commercial real estate construction | Not Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	109,570	72,250
Residential real estate. | Residential real estate | 30 - 59 Days Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	2	26
Residential real estate. | Residential real estate | Greater Than 90 Days
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	1,188	578
Residential real estate. | Residential real estate | Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	1,190	604
Residential real estate. | Residential real estate | Not Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	73,087	64,644
Residential real estate. | Home equity | 60 - 89 Days Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans		58
Residential real estate. | Home equity | Greater Than 90 Days
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans		50
Residential real estate. | Home equity | Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans		108
Residential real estate. | Home equity | Not Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	12,329	13,530
Consumer | 30 - 59 Days Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	584	1,134
Consumer | 60 - 89 Days Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	634	292
Consumer | Greater Than 90 Days
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	476	212
Consumer | Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	1,694	1,638
Consumer | Not Past Due
Financing Receivable, Recorded Investments, Aging [Abstract]
Loans	$ 14,605	$ 17,439

Loans - Troubled debt restructu

Loans - Troubled debt restructurings (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($) loan
Loans
Loans in process of foreclosure	$ 2,016	$ 2,024
Recorded investment in troubled debt restructurings	14,068	14,500
Allocated specific allowance	173	687
Commitments to lend additional funds	0	0
Loans restructured loans that defaulted	$ 0	$ 0
Loans modified resulting in TDRs | loan	0	0
Residential real estate. | Residential real estate
Loans
Loans in process of foreclosure	$ 578	$ 578

Loans - Composition of loans by

Loans - Composition of loans by loan segments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($) loan
Loans
Number of Loans | loan	0	0
Unpaid Principal Balance | $	$ 14,068	$ 14,500

Loans - Risk category of loans

Loans - Risk category of loans by class of loans (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Loans
Loans	$ 1,569,430	$ 1,291,428
Pass
Loans
Loans	1,543,023	1,256,950
Special Mention
Loans
Loans	7,974	4,885
Substandard
Loans
Loans	18,433	29,593
Commercial and industrial. | Commercial and industrial
Loans
Loans	258,901	268,508
Commercial and industrial. | Commercial and industrial | Pass
Loans
Loans	256,939	252,268
Commercial and industrial. | Commercial and industrial | Special Mention
Loans
Loans	575	4,156
Commercial and industrial. | Commercial and industrial | Substandard
Loans
Loans	1,387	12,084
Commercial real estate. | Commercial real estate
Loans
Loans	1,098,054	852,707
Commercial real estate. | Commercial real estate | Pass
Loans
Loans	1,074,952	835,787
Commercial real estate. | Commercial real estate | Special Mention
Loans
Loans	7,399	679
Commercial real estate. | Commercial real estate | Substandard
Loans
Loans	15,703	16,241
Commercial real estate. | Commercial real estate construction
Loans
Loans	109,570	72,250
Commercial real estate. | Commercial real estate construction | Pass
Loans
Loans	109,570	72,250
Residential real estate. | Residential real estate
Loans
Loans	74,277	65,248
Residential real estate. | Residential real estate | Pass
Loans
Loans	73,089	64,094
Residential real estate. | Residential real estate | Substandard
Loans
Loans	1,188	1,154
Residential real estate. | Home equity
Loans
Loans	12,329	13,638
Residential real estate. | Home equity | Pass
Loans
Loans	12,278	13,588
Residential real estate. | Home equity | Special Mention
Loans
Loans		50
Residential real estate. | Home equity | Substandard
Loans
Loans	51
Consumer
Loans
Loans	16,299	19,077
Consumer | Pass
Loans
Loans	16,195	18,963
Consumer | Substandard
Loans
Loans	$ 104	$ 114

Loans - Loans to certain direct

Loans - Loans to certain directors and principal officers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Loans
Balance, beginning of year	$ 5,076	$ 5,392
Additions	11,876
Repayments	(61)	(316)
Balance, end of year	$ 16,891	$ 5,076

Fair Value - Assets and liabili

Fair Value - Assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value
Transfer of assets, Level 1 to level 2	$ 0	$ 0
Transfer of assets, Level 2 to level 1	0	0
Transfer of liabilities, Level 1 to level 2	0	0
Transfer of liabilities, Level 2 to level 1	0	0
Recurring
Fair Value
Total securities available for sale	533,461	464,797
Recurring | U.S. government agencies and treasuries
Fair Value
Total securities available for sale	93,750	79,706
Recurring | Mortgage-backed securities
Fair Value
Total securities available for sale	316,915	270,432
Recurring | Corporate Bonds
Fair Value
Total securities available for sale	25,658	20,211
Recurring | Obligations of states and political subdivisions
Fair Value
Total securities available for sale	97,138	94,448
Recurring | Level 2
Fair Value
Total securities available for sale	533,461	464,797
Recurring | Level 2 | U.S. government agencies and treasuries
Fair Value
Total securities available for sale	93,750	79,706
Recurring | Level 2 | Mortgage-backed securities
Fair Value
Total securities available for sale	316,915	270,432
Recurring | Level 2 | Corporate Bonds
Fair Value
Total securities available for sale	25,658	20,211
Recurring | Level 2 | Obligations of states and political subdivisions
Fair Value
Total securities available for sale	$ 97,138	$ 94,448

Fair Value - Non-recurring (Det

Fair Value - Non-recurring (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value
Reserves allocated to impaired loans	$ 1,033	$ 1,433
Nonrecurring
Fair Value
Impaired loans	204	6,689
Level 3 | Nonrecurring
Fair Value
Impaired loans	204	6,689
Reserves allocated to impaired loans	$ 112	$ 409

Fair Value - Level 3 (Details)

Fair Value - Level 3 (Details) - Nonrecurring $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value
Impaired loans	$ 204	$ 6,689
Level 3
Fair Value
Impaired loans	$ 204	6,689
Level 3 | Appraisal of collateral | Appraisal and liquidation adjustment
Fair Value
Impaired loans, Measurement input	20
Level 3 | Appraisal of collateral | Appraisal and liquidation adjustment | Weighted average
Fair Value
Impaired loans, Measurement input	(20)
Level 3 | Commercial real estate. | Appraisal of collateral | Appraisal and liquidation adjustment
Fair Value
Impaired loans	$ 204	$ 6,689
Level 3 | Commercial real estate. | Appraisal of collateral | Appraisal and liquidation adjustment | Minimum
Fair Value
Impaired loans, Measurement input		20
Level 3 | Commercial real estate. | Appraisal of collateral | Appraisal and liquidation adjustment | Maximum
Fair Value
Impaired loans, Measurement input		56
Level 3 | Commercial real estate. | Appraisal of collateral | Appraisal and liquidation adjustment | Weighted average
Fair Value
Impaired loans, Measurement input		(39)

Fair Value - Carrying amounts a

Fair Value - Carrying amounts and estimated fair values (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Carrying Amount
Financial assets:
Cash and due from banks	$ 86,081	$ 306,179
Loans, net	1,547,598	1,273,767
Accrued interest receivable	6,320	6,643
Restricted investment in bank stocks	9,562	2,217
Financial liabilities:
Deposits	1,974,387	1,914,384
FHLB advances		3,000
Note payable		19,376
Subordinated notes, net of issuance costs	19,447
Accrued interest payable	267	250
Fair Value.
Financial assets:
Cash and due from banks	86,081	306,179
Loans, net	1,503,543	1,260,146
Accrued interest receivable	6,320	6,643
Financial liabilities:
Deposits	1,972,387	1,914,271
FHLB advances		3,030
Note payable		18,867
Subordinated notes, net of issuance costs	19,682
Accrued interest payable	267	250
Fair Value. | Level 1
Financial assets:
Cash and due from banks	86,081	306,179
Financial liabilities:
Deposits	1,881,354	1,831,944
Fair Value. | Level 2
Financial assets:
Accrued interest receivable	2,448	1,603
Financial liabilities:
Deposits	91,033	82,327
FHLB advances		3,030
Note payable		18,867
Subordinated notes, net of issuance costs	19,682
Accrued interest payable	267	250
Fair Value. | Level 3
Financial assets:
Loans, net	1,503,543	1,260,146
Accrued interest receivable	$ 3,872	$ 5,040

Premises and Equipment (Details

Premises and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Premises and Equipment
Premises and equipment, gross	$ 31,203	$ 29,656
Accumulated depreciation and amortization	(16,464)	(15,055)
Premises and equipment, net	14,739	14,601
Depreciation	1,407	1,375
Land
Premises and Equipment
Premises and equipment, gross	3,152	3,152
Buildings and improvements
Premises and Equipment
Premises and equipment, gross	13,741	12,714
Furniture and equipment
Premises and Equipment
Premises and equipment, gross	7,436	7,053
Leasehold improvements
Premises and Equipment
Premises and equipment, gross	$ 6,874	$ 6,737

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Changes in goodwill
Goodwill, Beginning of year	$ 5,359
Acquired goodwill impairment	0
Goodwill, End of year	$ 5,359

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Acquired intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Acquired intangible assets
Gross intangible asset	$ 4,284	$ 4,284
Accumulated Amortization	(2,892)	(2,606)
Intangible amortization	286	285
Customer lists and intangible assets
Acquired intangible assets
Gross intangible asset	4,284	4,284
Accumulated Amortization	$ (2,892)	$ (2,606)

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Estimated amortization expense (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Estimated amortization expense
2023	$ 286
2024	286
2025	286
2026	286
2027	$ 248

Deposits - Analysis of deposits

Deposits - Analysis of deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deposits
Non-interest bearing demand accounts	$ 723,228	$ 701,645
Interest-bearing demand accounts	284,747	301,596
Money market accounts	615,149	615,111
Savings accounts	258,230	213,592
Certificates of Deposit	93,033	82,440
Total deposits	1,974,387	1,914,384
Time deposits exceeding FDIC insurance limit of $250	$ 17,015	$ 23,859

Deposits - Scheduled maturities

Deposits - Scheduled maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deposits
2023	$ 80,728
2024	4,326
2025	7,979
Total	93,033
Deposits of executive officers, directors and principal officers	$ 15,648	$ 6,109

FHLB Advances (Details)

FHLB Advances (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
FHLB Advances
Federal Home Loan Bank (FHLB) advances	$ 131,500
Interest rate	4.61%
Additional amount available for advance	$ 441,511	$ 358,759
Municipal letters of credit
FHLB Advances
Line of credit outstanding	153,000	135,000
Securities
FHLB Advances
Pledge to FHLB	0	0
Loans.
FHLB Advances
Pledge to FHLB	$ 866,014	$ 657,788

Borrowings - Notes Payable (Det

Borrowings - Notes Payable (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Borrowings
Note payable	$ 3,000
Interest rate	5.60%

Borrowings (Details)

Borrowings (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 16, 2022	Dec. 31, 2022	Dec. 31, 2021	Sep. 24, 2020
Borrowings
Note payable			$ 3,000
Subordinated notes, net of issuance costs		$ 19,447	$ 19,376
Interest rate			5.60%
Term loan
Borrowings
Periodic interest payment	$ 14
Subordinated notes
Borrowings
Principal amount				$ 20,000
Debt issuance costs				$ 694
Subordinated notes, net of issuance costs		$ 19,400
Interest rate		4.25%
Basis points		4.13%

Pension and other Post Retire_3

Pension and other Post Retirement Plans - Changes in obligations and plan assets (Details) - Defined benefit pension plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Change in projected benefit obligation:
Beginning of year	$ 28,221	$ 29,428
Service cost		189
Interest cost	808	760
Benefits paid	(1,438)	(1,556)
Actuarial loss	(6,302)	(600)
End of year	21,289	28,221
Change in fair value of assets:
Beginning of year	42,867	39,963
Contributions	1,453	2,000
Actual return on plan assets	(10,888)	2,501
Benefits paid and expenses	(1,654)	(1,597)
End of year	31,778	42,867
Funded status at end of year (plan assets less benefit obligation)	$ 10,489	$ 14,646

Pension and other Post Retire_4

Pension and other Post Retirement Plans - Amounts recognized in accumulated other comprehensive income (loss) (Details) - Defined benefit pension plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Amounts recognized in accumulated other comprehensive income (loss)
Total net actuarial loss	$ (10,308)	$ (3,521)
Transition asset		28
Amounts recognized in accumulated other comprehensive income (loss)	(10,308)	(3,493)
Accumulated benefit obligation	$ 21,288	$ 28,221

Pension and other Post Retire_5

Pension and other Post Retirement Plans - Components of net periodic benefit cost and other amounts recognized in other comprehensive income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Pension and other Post Retirement Plans
Net gain/(loss)	$ 6,786	$ (1,002)
Defined benefit pension plan
Pension and other Post Retirement Plans
Service cost		189
Interest cost	808	760
Expected return on plan assets	(1,985)	(2,058)
Amortization of transition cost	(28)	(48)
Amortization of net loss		21
Net periodic benefit cost/(income)	(1,205)	(1,136)
Net gain/(loss)	6,786	(1,002)
Amortization of transition asset	28	48
Amortization of prior service cost		(21)
Total recognized in other comprehensive income	6,814	(975)
Total recognized in net periodic benefit cost and other comprehensive income	$ 5,609	$ (2,111)

Pension and other Post Retire_6

Pension and other Post Retirement Plans - Assumptions (Details) - Defined benefit pension plan	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Pension and other Post Retirement Plans
Benefit obligation, Discount rate	5.44%	2.94%
Net Periodic Benefit Cost, Discount rate	2.94%	2.65%
Net Periodic Benefit Cost, Expected long-term rate of return on plan assets	5.25%	5.25%

Pension and other Post Retire_7

Pension and other Post Retirement Plans - Investment Strategy and Allocation (Details) - Defined benefit pension plan	12 Months Ended
	Dec. 31, 2022
Defined Benefit Plan, Plan Assets, Category [Line Items]
Investments for long-term growth (as a percent)	97%
Investments for near term benefit payments (as a percent)	3%
Maximum
Defined Benefit Plan, Plan Assets, Category [Line Items]
Securities purchased in a portfolio (as a percent)	5%
Market value of issuer (as a percent)	8%
Securities less than A quality (as a percent)	13%
Mortgage and asset backed securities (as a percent)	10%

Pension and other Post Retire_8

Pension and other Post Retirement Plans - Fair value of the plan assets (Details) - Defined benefit pension plan - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension and other Post Retirement Plans
Total plan assets	$ 31,778	$ 42,867	$ 39,963
Level 2
Pension and other Post Retirement Plans
Total plan assets	31,778	42,867
Commingled pension trust funds-realty
Pension and other Post Retirement Plans
Total plan assets	31,778	42,867
Commingled pension trust funds-realty | Level 2
Pension and other Post Retirement Plans
Total plan assets	$ 31,778	$ 42,867

Pension and other Post Retire_9

Pension and other Post Retirement Plans - Contributions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Defined benefit pension plan
Defined Benefit Plan Disclosure [Line Items]
Contributions	$ 1,453	$ 2,000

Pension and other Post Retir_10

Pension and other Post Retirement Plans - Pension plan asset allocation (Details) - Defined benefit pension plan	Dec. 31, 2022	Dec. 31, 2021
Pension and other Post Retirement Plans
Actual allocation	100%	100%
Cash equivalents
Pension and other Post Retirement Plans
Actual allocation	16.59%
Equity securities
Pension and other Post Retirement Plans
Target allocation	30%	30%
Actual allocation	25.05%	35.65%
Fixed income securities
Pension and other Post Retirement Plans
Target allocation	15%	15%
Actual allocation	21.70%	34.98%
Other financial instruments
Pension and other Post Retirement Plans
Target allocation	55%	55%
Actual allocation	36.66%	29.37%

Pension and other Post Retir_11

Pension and other Post Retirement Plans - Estimated Future Payments (Details) - Defined benefit pension plan $ in Thousands	Dec. 31, 2022 USD ($)
Estimated Future Payments
2023	$ 1,603
2024	1,635
2025	1,617
2026	1,617
2027	1,572
Following 5 years	$ 7,617

Pension and other Post Retir_12

Pension and other Post Retirement Plans - Other Postretirement Plans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Supplemental Executive Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Number of Chief Executive Officers | item	2
Benefit plan expense	$ 57	$ 58
Estimated Future Payments
2023	79
2024	79
2025	79
2026	79
Following 5 years	396
Supplemental Executive Retirement Plan | Accrued expenses and other liabilities
Defined Benefit Plan Disclosure [Line Items]
Benefits accrued	665	687
Performance based Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Benefit plan expense	$ 93	9
Number of vice presidents | item	2
Deferred Directors Fee Plan
Defined Benefit Plan Disclosure [Line Items]
Benefit plan expense	$ 420	541
Deferred Directors Fee Plan | Accrued expenses and other liabilities
Defined Benefit Plan Disclosure [Line Items]
Benefits accrued	6,959	6,955
Deferred Compensation Plan
Defined Benefit Plan Disclosure [Line Items]
Benefit plan expense	2	6
Deferred Compensation Plan | Accrued expenses and other liabilities
Defined Benefit Plan Disclosure [Line Items]
Benefits accrued	32	75
Deferred Incentive Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Benefit plan expense		24	$ 26
Deferred Incentive Retirement Plan | Accrued expenses and other liabilities
Defined Benefit Plan Disclosure [Line Items]
Benefits accrued	$ 517	$ 567

Pension and other Post Retir_13

Pension and other Post Retirement Plans - 401(k) Savings Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Pension and other Post Retirement Plans
Maximum annual contribution per employee (in percent)	100%
Employer safe harbor annual contribution (in percent)	3%
Minimum service eligibility for employee discretionary contribution (in years)	1 year
Discretionary contributions	$ 440	$ 457

Pension and other Post Retir_14

Pension and other Post Retirement Plans - Employee discretionary contribution (Details)	12 Months Ended
	Dec. 31, 2022 item
Under age 35
Pension and other Post Retirement Plans
Employee discretionary contribution, Compensation (as a percent)	1%
Under age 35 | Maximum
Pension and other Post Retirement Plans
Age of employees	35
35 years of age, but less than 45
Pension and other Post Retirement Plans
Employee discretionary contribution, Compensation (as a percent)	2%
35 years of age, but less than 45 | Maximum
Pension and other Post Retirement Plans
Age of employees	45
35 years of age, but less than 45 | Minimum
Pension and other Post Retirement Plans
Age of employees	35
45 years of age, but less than 55
Pension and other Post Retirement Plans
Employee discretionary contribution, Compensation (as a percent)	5%
45 years of age, but less than 55 | Maximum
Pension and other Post Retirement Plans
Age of employees	55
45 years of age, but less than 55 | Minimum
Pension and other Post Retirement Plans
Age of employees	45
55 years of age or older
Pension and other Post Retirement Plans
Employee discretionary contribution, Compensation (as a percent)	8.50%
55 years of age or older | Minimum
Pension and other Post Retirement Plans
Age of employees	55

Pension and other Post Retir_15

Pension and other Post Retirement Plans - Restricted stock awards (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Sep. 22, 2021	Dec. 31, 2022	Dec. 31, 2021
Pension Plan and Stock Compensation
Stock-based compensation costs		$ 503	$ 69
Shares
Non-vested at beginning of period (in shares)		22,922
Non-vested at end of period (in shares)		11,677	22,922
Restricted Stock Awards
Pension Plan and Stock Compensation
Granted		0	15,162
Vesting percentage		33%
Unamortized expense		$ 57
Shares
Non-vested at beginning of period (in shares)		22,922
Granted (in shares)	48,004
Vested (in shares)		(11,245)
Non-vested at end of period (in shares)		11,677	22,922
Weighted Average Fair Value
Non-vested at beginning of period (in dollars per share)		$ 28.92
Vested (in dollars per share)		28.59
Non-vested at end of period (in dollars per share)		$ 29.24	$ 28.92

Pension Plan and Stock Compensa

Pension Plan and Stock Compensation - Restricted Stock Units (Details) - USD ($) $ in Thousands		12 Months Ended
	Sep. 22, 2021	Dec. 31, 2022
Pension Plan and Stock Compensation
Maximum discretionary contributions to a KSOP trust	$ 200
Restricted Stock Units (RSUs)
Pension Plan and Stock Compensation
Granted (in shares)		26,255
Restricted Stock Units (RSUs) | Officers
Pension Plan and Stock Compensation
Granted (in shares)	31,504
Vesting period	3 years
Restricted Stock Units (RSUs) | Officers | First anniversary
Pension Plan and Stock Compensation
Vesting percentage	33%
Restricted Stock Units (RSUs) | Officers | Second anniversary
Pension Plan and Stock Compensation
Vesting percentage	33%
Restricted Stock Units (RSUs) | Officers | Third anniversary
Pension Plan and Stock Compensation
Vesting percentage	33%
Restricted Stock Units (RSUs) | Non-employee directors
Pension Plan and Stock Compensation
Granted (in shares)	16,500
Vesting percentage	100%

Pension Plan and Stock Compen_2

Pension Plan and Stock Compensation - Stock Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Sep. 22, 2021	Dec. 31, 2022	Dec. 31, 2021
Pension Plan and Stock Compensation
Stock-based compensation costs		$ 503	$ 69
Restricted stock expense		$ 166	$ 475
Shares
Non-vested at beginning of period (in shares)		22,922
Non-vested at end of period (in shares)		11,677	22,922
Restricted Stock Awards
Pension Plan and Stock Compensation
Restricted stock expense		$ 166	$ 475
Granted		0	15,162
Vesting percentage		33%
Unamortized expense		$ 57
Shares
Non-vested at beginning of period (in shares)		22,922
Granted (in shares)	48,004
Vested (in shares)		(11,245)
Non-vested at end of period (in shares)		11,677	22,922
Weighted Average Fair Value
Non-vested at beginning of period (in dollars per share)		$ 28.92
Vested (in dollars per share)		28.59
Non-vested at end of period (in dollars per share)		$ 29.24	$ 28.92
Restricted Stock Units (RSUs)
Shares
Non-vested at beginning of period (in shares)		48,004
Granted (in shares)		26,255
Vested (in shares)		(11,637)
Forfeited (in shares)		(2,875)
Non-vested at end of period (in shares)		59,747	48,004

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 expense
Federal	$ 6,488	$ 5,353
State	384	440
Total	6,872	5,793
Deferred expense (benefit)
Federal	(934)	(326)
State	(410)	(630)
Total	(1,344)	(956)
Change in valuation allowance	386	553
Total provision for income taxes	$ 5,914	$ 5,390

Income Taxes - Effective income

Income Taxes - Effective income tax reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Tax expense at statutory rate	$ 6,356	$ 5,602
(Decrease) increase in taxes resulting from:
Net earnings on bank-owned life insurance	(200)	(167)
Tax-exempt municipal bond income, net of disallowed interest expense	(465)	(329)
State income tax, net of federal tax benefit	(26)	209
Valuation allowance	386	553
Other	(137)	(478)
Total provision for income taxes	$ 5,914	$ 5,390

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	$ 5,991	$ 4,824
Reserve for unfunded commitments	55	55
Deferred loan fees, net of costs	1,130	962
Deferred compensation	2,420	2,431
Available for sale securities	16,063	293
Non accrual interest	298	336
State NOL	2,476	2,284
Pension/deferred compensation OCI	2,463	894
Total deferred tax assets	30,896	12,079
Deferred tax liabilities:
Intangible assets	(1,004)	(902)
Organization costs-holding company	(24)	(22)
Organization costs-HVIA	(26)	(23)
Pension	(2,797)	(2,717)
Accumulated depreciation	(517)	(681)
Accretion	(39)	(16)
Total deferred tax liabilities	(4,407)	(4,361)
Net deferred tax asset before valuation allowance	27,089	7,718
Valuation allowance	(7,993)	(3,629)
Net deferred tax asset	$ 19,096	$ 4,089

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Federal statutory rate	21%	21%
Valuation allowance	$ 7,993	$ 3,629
State
Income Taxes
Operating loss carry forwards	$ 34,200

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	$ 182,836	$ 135,423
Net current period other comprehensive income/(loss)	(64,753)	(5,262)
Ending balance	138,138	182,836
Unrealized Gains and Losses on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(1,072)	4,949
Other comprehensive income/(loss) before reclassification	(59,358)	(6,021)
Net current period other comprehensive income/(loss)	(59,358)	(6,021)
Ending balance	(60,430)	(1,072)
Amortization of Defined Benefit Pension
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(2,506)	(3,277)
Other comprehensive income/(loss) before reclassification	(5,361)	792
Less amounts reclassified from accumulated other comprehensive income	22	21
Net current period other comprehensive income/(loss)	(5,383)	771
Ending balance	(7,889)	(2,506)
Deferred Compensation Liability
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	135	147
Other comprehensive income/(loss) before reclassification	(12)	(12)
Net current period other comprehensive income/(loss)	(12)	(12)
Ending balance	123	135
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(3,443)	1,819
Other comprehensive income/(loss) before reclassification	(64,731)	(5,241)
Less amounts reclassified from accumulated other comprehensive income	22	21
Net current period other comprehensive income/(loss)	(64,753)	(5,262)
Ending balance	$ (68,196)	$ (3,443)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Amount Reclassified from AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss)
Employee benefits transition asset	$ 3,565	$ 2,783
Employee benefits actuarial gains	1,052	1,030
Total before tax	30,277	26,677
Provision for income taxes	5,914	5,390
Net of tax	24,363	21,287
Reclassifications out of accumulated other comprehensive income (loss) | Amortization of Defined Benefit Pension
Accumulated Other Comprehensive Income (Loss)
Employee benefits transition asset	(28)	(48)
Employee benefits actuarial gains		21
Total before tax	(28)	(27)
Provision for income taxes	(6)	(6)
Net of tax	(22)	(21)
Reclassifications out of accumulated other comprehensive income (loss) | Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Net of tax	$ (22)	$ (21)

Regulatory Capital Matters (Det

Regulatory Capital Matters (Details) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Total capital to risk weighted assets
Total capital to risk weighted assets, Actual amount	$ 235,346	$ 192,359
Total capital to risk weighted assets, Actual ratio	0.1395	0.1412
Total capital to risk weighted assets, For Capital Adequacy Purposes	$ 134,986	$ 109,000
Total capital to risk weighted assets, For Capital Adequacy Purposes Ratio	0.0800	0.0800
Total capital to risk weighted assets, For Capital Adequacy Purposes with Capital Buffer	$ 166,624	$ 134,546
Total capital to risk weighted assets, For Capital Adequacy Purposes with Capital Buffer Ratio	0.09875	0.09875
Total capital to risk weighted assets, To be Well Capitalized under Prompt Corrective Action Provisions	$ 168,733	$ 136,250
Total capital to risk weighted assets, To be Well Capitalized under Prompt Corrective Action Provisions Ratio	0.1000	0.1000
Tier 1 (Core) capital to risk weighted assets
Tier 1 (Core) capital to risk weighted assets, Actual amount	$ 214,243	$ 175,318
Tier 1 (Core) capital to risk weighted assets, Actual ratio	0.1270	0.1287
Tier 1 (Core) capital to risk weighted assets, For Capital Adequacy Purposes	$ 101,240	$ 81,750
Tier 1 (Core) capital to risk weighted assets, For Capital Adequacy Purposes Ratio	0.0600	0.0600
Tier 1 (Core) capital to risk weighted assets, For Capital Adequacy Purposes with Capital Buffer	$ 132,877	$ 107,296
Tier 1 (Core) capital to risk weighted assets, Actual amount	0.07875	0.07875
Tier 1 (Core) capital to risk weighted assets, To be Well Capitalized under Prompt Corrective Action Provisions	$ 134,986	$ 109,000
Tier 1 (Core) capital to risk weighted assets, To be Well Capitalized under Prompt Corrective Action Provisions Ratio	0.0800	0.0800
Common Tier 1 (CET1) to risk weighted assets
Common Tier 1 (CET1) to risk weighted assets, Actual amount	$ 214,243	$ 175,318
Common Tier 1 (CET1) to risk weighted assets, Actual ratio	0.1270	0.1287
Common Tier 1 (CET1) to risk weighted assets, For Capital Adequacy Purposes	$ 75,930	$ 61,312
Common Tier 1 (CET1) to risk weighted assets, For Capital Adequacy Purposes Ratio	0.0450	0.0450
Common Tier 1 (CET1) to risk weighted assets, For Capital Adequacy Purposes with Capital Buffer	$ 107,567	$ 86,859
Common Tier 1 (CET1) to risk weighted assets, For Capital Adequacy Purposes with Capital Buffer Ratio	0.06375	0.06375
Common Tier 1 (CET1) to risk weighted assets, To be Well Capitalized under Prompt Corrective Action Provisions	$ 109,677	$ 88,562
Common Tier 1 (CET1) to risk weighted assets, To be Well Capitalized under Prompt Corrective Action Provisions Ratio	0.0650	0.0650
Tier 1 (Core) Capital to average assets
Tier 1 (Core) Capital to average assets, Actual amount	$ 214,243	$ 175,318
Tier 1 (Core) Capital to average assets, Actual ratio	0.0909	0.0815
Tier 1 (Core) Capital to average assets, For Capital Adequacy Purposes	$ 94,250	$ 86,093
Tier 1 (Core) Capital to average assets, For Capital Adequacy Purposes Ratio	0.0400	0.0400
Tier 1 (Core) Capital to average assets, To be Well Capitalized under Prompt Corrective Action Provisions	$ 117,813	$ 107,616
Tier 1 (Core) Capital to average assets, To be Well Capitalized under Prompt Corrective Action Provisions Ratio	0.0500	0.0500

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Renewal term	5 years
Option to extend	true
Option to terminate	true
Operating lease right-of-use assets	$ 4,029	$ 3,038
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets	Other Assets
Operating lease liability	$ 4,029	$ 3,038
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities and Other Liabilities	Accrued Liabilities and Other Liabilities
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	10 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year

Leases - Future undiscounted le

Leases - Future undiscounted lease payments for operating leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Years Ending December 31,
2023	$ 878
2024	831
2025	762
2026	711
2027	497
Thereafter	515
Total undiscounted lease payments	4,194
Discount	165
Total discounted lease payments	$ 4,029	$ 3,038
Operating lease weighted average remaining lease term (years)	5 years 5 months 15 days
Operating lease weighted average discount rate	3.38%
Operating Lease, Expense	$ 911	$ 792

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Noninterest Income
Service charges on deposit accounts	$ 693	$ 638
Overdraft fees	328	279
Other	365	359
Trust income	4,764	4,788
Investment advisory income	4,537	4,853
Earnings on bank owned life insurance	950	793
Other	1,052	1,030
TOTAL NONINTEREST INCOME	11,996	12,102
Other noninterest income within the scope of ASC 606	913	805
Other noninterest income outside the scope of ASC 606	$ 139	$ 225

Financial Instruments with Of_3

Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Commitments to extend credit
Financial Instruments with Off-Balance Sheet Risk
Off-balance sheet liability	$ 389,062	$ 373,268
Standby letters of credit
Financial Instruments with Off-Balance Sheet Risk
Off-balance sheet liability	$ 13,552	$ 11,501

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Mar. 15, 2023	Feb. 16, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 12, 2023
Subsequent Event [Line Items]
Cash dividend paid			$ 0.83	$ 0.80
Subsequent Events.
Subsequent Event [Line Items]
Dividend declared		$ 0.23
Cash dividend paid	$ 0.23
Subsequent Events. | Signature Bank [Member]
Subsequent Event [Line Items]
Bank notes					$ 5

Parent Company Information - Co

Parent Company Information - Condensed Statements of Condition - (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 86,081	$ 306,179
Other assets	42,359	27,829
Total assets	2,287,334	2,142,583
Liabilities and stockholders' equity
Subordinated notes, net of issuance costs	19,447	19,376
Note payable		3,000
Total liabilities	2,149,196	1,959,747
Total stockholders' equity	138,138	182,836	$ 135,423
Total liabilities and stockholders' equity	2,287,334	2,142,583
Parent company
Assets
Cash and due from banks	4,596	24,441
Investment in subsidiaries	152,214	179,487
Goodwill and intangible assets	1,564	1,850
Other assets	366	211
Total assets	158,740	205,989
Liabilities and stockholders' equity
Subordinated notes, net of issuance costs	19,447	19,376
Note payable		3,000
Other liabilities	1,155	777
Total liabilities	20,602	23,153
Total stockholders' equity	138,138	182,836
Total liabilities and stockholders' equity	$ 158,740	$ 205,989

Parent Company Information - _2

Parent Company Information - Condensed Statements of Income and Comprehensive Income (Loss) - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating Income
Total operating income	$ 84,223	$ 64,429
Operating Expenses
Salaries and employee benefits	22,461	19,710
Professional fees	4,066	3,649
Directors' fees and expenses	1,157	1,041
Intangible amortization	286	285
NET INCOME	24,363	21,287
Comprehensive income	(40,390)	16,025
Parent company
Operating Income
Dividend income from operating subsidiaries	6,792	5,329
Servicing Fee	553	372
Total operating income	7,345	5,701
Operating Expenses
Interest on borrowings	1,077	1,087
Salaries and employee benefits	553	372
Professional fees	413	172
Directors' fees and expenses	162	189
Intangible amortization	286	286
Other expenses and income taxes	(28)	59
Total operating expenses	2,463	2,165
Equity in undistributed earnings of subsidiary	19,481	17,751
NET INCOME	24,363	21,287
Comprehensive income	$ (40,390)	$ 16,025

Parent Company Information - _3

Parent Company Information - Condensed Statements of Cash Flows - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net income after equity in undistributed earnings of subsidiary	$ 24,363	$ 21,287
Adjustments to reconcile net income to net cash provided by operating activities
Stock-based compensation costs	503	69
Amortization of intangibles	286	285
Restricted stock expense	166	475
Net cash provided by (used in) operating activities	30,483	20,320
Cash flows from investing activities
Net cash used in investing activities	(434,107)	(291,307)
Cash flows from financing activities
Proceeds of issuance of stock offering , net of costs		35,252
Repayments of note payable	(3,000)
Purchases of treasury stock	(308)	(379)
Net cash (used in) provided by financing activities	183,526	455,934
Net increase in cash and cash equivalents	(220,098)	184,947
Beginning cash and cash equivalents	306,179	121,232
Ending cash and cash equivalents	86,081	306,179
Parent company
Cash flows from operating activities
Net income after equity in undistributed earnings of subsidiary	24,363	21,287
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed earnings of subsidiary companies	(19,481)	(17,751)
Stock-based compensation costs	503	69
Amortization of intangibles	286	286
Restricted stock expense	166	475
Other, net	295	(198)
Net cash provided by (used in) operating activities	6,132	4,168
Cash flows from investing activities
Investment in operating subsidiary	(18,000)	(21,500)
Net cash used in investing activities	(18,000)	(21,500)
Cash flows from financing activities
Proceeds of issuance of stock offering , net of costs		35,252
Repayments of note payable	(3,000)
Dividends paid, common stock	(4,669)	(4,029)
Purchases of treasury stock	(308)	(379)
Net cash (used in) provided by financing activities	(7,977)	30,844
Net increase in cash and cash equivalents	(19,845)	13,512
Beginning cash and cash equivalents	24,441	10,929
Ending cash and cash equivalents	$ 4,596	$ 24,441

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Segment Information
Net interest income	$ 78,088	$ 60,461
Noninterest income	11,996	12,102
Provision for loan loss	(9,517)	(2,428)
Noninterest expenses	(50,290)	(43,458)
Income tax expense	(5,914)	(5,390)
NET INCOME	24,363	21,287
Total assets	2,287,334	2,142,583
Banking
Segment Information
Net interest income	78,088	60,461
Noninterest income	2,695	2,461
Provision for loan loss	(9,517)	(2,428)
Noninterest expenses	(42,898)	(36,736)
Income tax expense	(5,513)	(4,777)
NET INCOME	22,855	18,981
Total assets	2,279,469	2,133,440
Wealth Management
Segment Information
Noninterest income	9,301	9,641
Noninterest expenses	(7,392)	(6,722)
Income tax expense	(401)	(613)
NET INCOME	1,508	2,306
Total assets	$ 7,865	$ 9,143