Penns Woods Bancorp (PWOD) 10-Q 14 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Nov. 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	0-17077
Entity Registrant Name	PENNS WOODS BANCORP INC
Entity Incorporation, State or Country Code	PA
Entity Address, Address Line One	300 Market Street, P.O. Box 967
Entity Tax Identification Number	23-2226454
Entity Address, City or Town	Williamsport
Entity Address, State or Province	PA
Postal Zip Code	17703-0967
City Area Code	570
Local Phone Number	322-1111
Title of 12(b) Security	Common stock, $5.55 par value
Trading Symbol	PWOD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Other Identification Type	Yes
Entity Filer Category	Non-accelerated Filer
Smaller Reporting Company	true
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		7,163,550
Entity Central Index Key	0000716605
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEET (UNA

CONSOLIDATED BALANCE SHEET (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS:
Noninterest-bearing balances	$ 26,651	$ 27,390
Interest-bearing balances in other financial institutions	8,939	12,943
Total cash and cash equivalents	35,590	40,333
Investment debt securities, available for sale, at fair value	184,667	193,673
Investment equity securities, at fair value	1,072	1,142
Restricted investment in bank stock	25,289	19,171
Loans held for sale	4,083	3,298
Loans	1,818,461	1,639,731
Allowance for credit losses	(12,890)	(15,637)
Loans, net	1,805,571	1,624,094
Premises and equipment, net	30,746	31,844
Accrued interest receivable	10,500	9,481
Bank-owned life insurance	33,695	34,452
Investment in limited partnerships	8,275	8,656
Goodwill	16,450	16,450
Intangibles	235	327
Operating lease right-of-use asset	2,562	2,651
Deferred tax asset	6,961	6,868
Other assets	10,772	7,640
TOTAL ASSETS	2,176,468	2,000,080
LIABILITIES:
Interest-bearing deposits	1,095,760	1,037,397
Noninterest-bearing deposits	471,507	519,063
Total deposits	1,567,267	1,556,460
Short-term borrowings	193,746	153,349
Long-term borrowings	217,645	102,783
Accrued interest payable	2,716	603
Operating lease liability	2,619	2,708
Other liabilities	17,935	16,512
TOTAL LIABILITIES	2,001,928	1,832,415
SHAREHOLDERS’ EQUITY:
Preferred stock, no par value, 3,000,000 shares authorized; no shares issued	0	0
Common stock, par value $5.55, 22,500,000 shares authorized; 7,620,250 and 7,566,810 shares issued; 7,110,025 and 7,056,585 outstanding	42,335	42,039
Additional paid-in capital	55,890	54,252
Retained earnings	104,067	98,147
Accumulated other comprehensive loss:
Net unrealized loss on available for sale securities	(10,886)	(9,819)
Defined benefit plan	(4,051)	(4,139)
Treasury stock at cost, 510,225 shares	(12,815)	(12,815)
TOTAL SHAREHOLDERS' EQUITY	174,540	167,665
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 2,176,468	$ 2,000,080

CONSOLIDATED BALANCE SHEET (U_2

CONSOLIDATED BALANCE SHEET (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 5.55	$ 5.55
Common stock, shares authorized (in shares)	22,500,000	22,500,000
Common stock, shares issued (in shares)	7,620,250	7,566,810
Common stock, shares outstanding (in shares)	7,110,025	7,056,585
Treasury stock (in shares)	510,225	510,225

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
INTEREST AND DIVIDEND INCOME:
Loans, including fees	$ 21,720	$ 15,051	$ 59,571	$ 41,709
Investment securities:
Taxable	1,365	949	3,870	2,550
Tax-exempt	114	236	410	594
Dividend and other interest income	722	628	1,827	1,470
TOTAL INTEREST AND DIVIDEND INCOME	23,921	16,864	65,678	46,323
INTEREST EXPENSE:
Deposits	6,463	693	14,686	2,191
Short-term borrowings	2,412	26	6,084	29
Long-term borrowings	1,714	613	3,892	1,871
TOTAL INTEREST EXPENSE	10,589	1,332	24,662	4,091
NET INTEREST INCOME	13,332	15,532	41,016	42,232
Provision for loan credit losses	1,331	855	726	1,335
Provision (recovery) for off balance sheet credit exposures	41	0	(463)	0
TOTAL PROVISION FOR CREDIT LOSSES	1,372	855	263	1,335
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	11,960	14,677	40,753	40,897
NON-INTEREST INCOME:
Net debt securities losses, available for sale	(45)	(156)	(125)	(168)
Net equity securities losses	(36)	(55)	(35)	(158)
Bank-owned life insurance	170	170	892	501
Gain on sale of loans	257	294	732	905
Other	145	238	546	673
TOTAL NON-INTEREST INCOME	1,875	2,083	6,154	6,632
NON-INTEREST EXPENSE:
Salaries and employee benefits	6,290	6,016	18,778	18,421
Occupancy	784	730	2,422	2,380
Furniture and equipment	867	816	2,503	2,454
Software amortization	237	188	593	660
Pennsylvania shares tax	280	334	807	1,119
Professional fees	719	626	2,313	1,746
Federal Deposit Insurance Corporation deposit insurance	425	260	1,122	690
Marketing	167	151	594	435
Intangible amortization	25	34	92	119
Other	1,378	1,165	4,275	3,723
TOTAL NON-INTEREST EXPENSE	11,172	10,320	33,499	31,747
INCOME BEFORE INCOME TAX PROVISION	2,663	6,440	13,408	15,782
INCOME TAX PROVISION	439	1,190	2,355	2,869
Net Income	$ 2,224	$ 5,250	$ 11,053	$ 12,913
Earnings per share - basic (in dollars per share)	$ 0.31	$ 0.74	$ 1.56	$ 1.83
Earnings per share - diluted (in dollars per share)	$ 0.31	$ 0.74	$ 1.53	$ 1.83
Weighted average shares outstanding - basic (in shares)	7,072,440	7,051,228	7,064,336	7,060,871
Weighted average shares outstanding - diluted (in shares)	7,228,940	7,051,228	7,220,836	7,060,871
Service charges
NON-INTEREST INCOME:
Revenue from contract with customer	$ 545	$ 559	$ 1,557	$ 1,563
Insurance commissions
NON-INTEREST INCOME:
Revenue from contract with customer	136	109	416	386
Brokerage commissions
NON-INTEREST INCOME:
Revenue from contract with customer	142	142	448	500
Loan broker commissions
NON-INTEREST INCOME:
Revenue from contract with customer	241	438	728	1,350
Debit card income
NON-INTEREST INCOME:
Revenue from contract with customer	$ 320	$ 344	$ 995	$ 1,080

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net Income	$ 2,224	$ 5,250	$ 11,053	$ 12,913
Other comprehensive (loss) income:
Net unrealized loss on available for sale securities	(1,480)	(6,362)	(1,476)	(17,254)
Tax effect	311	1,336	310	3,623
Net realized loss on available for sale securities included in net income	45	156	125	168
Tax effect	(9)	(33)	(26)	(35)
Amortization of unrecognized pension loss	37	17	111	52
Tax effect	(8)	(3)	(23)	(11)
Total other comprehensive loss	(1,104)	(4,889)	(979)	(13,457)
Comprehensive income (loss)	$ 1,120	$ 361	$ 10,074	$ (544)

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Cumulative effect of adoption of ASU 2016-13	COMMON STOCK	ADDITIONAL PAID-IN CAPITAL	RETAINED EARNINGS	RETAINED EARNINGS Cumulative effect of adoption of ASU 2016-13	ACCUMULATED OTHER COMPREHENSIVE LOSS	TREASURY STOCK
Beginning balance (in shares) at Dec. 31, 2021			7,550,272
Beginning balance at Dec. 31, 2021	$ 172,274		$ 41,945	$ 53,795	$ 89,761		$ (1,112)	$ (12,115)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,913				12,913
Other comprehensive loss	(13,457)						(13,457)
Stock-based compensation	1,004			1,004
Cash settlement of options	(1,074)			(1,074)
Dividends declared	(6,778)				(6,778)
Common shares issued for employee stock purchase plan (in shares)			2,960
Common shares issued for employee stock purchase plan	67		$ 17	50
Director compensation plan (in shares)			9,968
Director Compensation Plan	240		$ 57	183
Purchase of treasury stock	(700)							(700)
Ending balance (in shares) at Sep. 30, 2022			7,563,200
Ending balance at Sep. 30, 2022	164,489		$ 42,019	53,958	95,896		(14,569)	(12,815)
Beginning balance (in shares) at Dec. 31, 2021			7,550,272
Beginning balance at Dec. 31, 2021	$ 172,274		$ 41,945	53,795	89,761		(1,112)	(12,115)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Ending balance (in shares) at Dec. 31, 2022			7,566,810
Ending balance at Dec. 31, 2022	$ 167,665	$ 1,647	$ 42,039	54,252	98,147	$ 1,647	(13,958)	(12,815)
Beginning balance (in shares) at Jun. 30, 2022			7,559,165
Beginning balance at Jun. 30, 2022	166,054		$ 41,995	53,651	92,903		(9,680)	(12,815)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,250				5,250
Other comprehensive loss	(4,889)						(4,889)
Stock-based compensation	236			236
Dividends declared	(2,257)				(2,257)
Common shares issued for employee stock purchase plan (in shares)			1,057
Common shares issued for employee stock purchase plan	23		$ 6	17
Director compensation plan (in shares)			2,978
Director Compensation Plan	72		$ 18	54
Ending balance (in shares) at Sep. 30, 2022			7,563,200
Ending balance at Sep. 30, 2022	164,489		$ 42,019	53,958	95,896		(14,569)	(12,815)
Beginning balance (in shares) at Dec. 31, 2022			7,566,810
Beginning balance at Dec. 31, 2022	167,665	$ 1,647	$ 42,039	54,252	98,147	$ 1,647	(13,958)	(12,815)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11,053				11,053
Other comprehensive loss	(979)						(979)
Stock-based compensation	715			715
Dividends declared	(6,780)				(6,780)
Common shares issued for employee stock purchase plan (in shares)			3,120
Common shares issued for employee stock purchase plan	73		$ 17	56
Director compensation plan (in shares)			7,560
Director Compensation Plan	193		$ 42	151
Registered at-the-market shares issuance, net proceeds (in shares)			34,411
Registered at-the-market shares issuance, net proceeds	753		$ 191	562
Dividend reinvestment plan (in shares)			8,349
Dividend reinvestment plan	200		$ 46	154
Ending balance (in shares) at Sep. 30, 2023			7,620,250
Ending balance at Sep. 30, 2023	174,540		$ 42,335	55,890	104,067		(14,937)	(12,815)
Beginning balance (in shares) at Jun. 30, 2023			7,573,713
Beginning balance at Jun. 30, 2023	174,402		$ 42,077	54,869	104,104		(13,833)	(12,815)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,224				2,224
Other comprehensive loss	(1,104)						(1,104)
Stock-based compensation	229			229
Dividends declared	(2,261)				(2,261)
Common shares issued for employee stock purchase plan (in shares)			1,436
Common shares issued for employee stock purchase plan	34		$ 8	26
Director compensation plan (in shares)			2,341
Director Compensation Plan	63		$ 13	50
Registered at-the-market shares issuance, net proceeds (in shares)			34,411
Registered at-the-market shares issuance, net proceeds	753		$ 191	562
Dividend reinvestment plan (in shares)			8,349
Dividend reinvestment plan	200		$ 46	154
Ending balance (in shares) at Sep. 30, 2023			7,620,250
Ending balance at Sep. 30, 2023	$ 174,540		$ 42,335	$ 55,890	$ 104,067		$ (14,937)	$ (12,815)

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in dollars per share)	$ 0.32	$ 0.32	$ 0.96	$ 0.96
Purchase of treasury stock (in shares)				30,000

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES:
Net Income	$ 11,053	$ 12,913
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,469	2,660
Loss on sale of premises and equipment	0	275
Amortization of intangible assets	92	119
Provision for credit losses	263	1,335
Stock based compensation	715	1,004
Accretion and amortization of investment security discounts and premiums	361	932
Net debt securities losses, available for sale	125	168
Originations of loans held for sale	(27,183)	(30,644)
Proceeds of loans held for sale	27,130	32,789
Gain on sale of loans	(732)	(905)
Net equity securities losses	35	158
Security trades payable	0	(111)
Earnings on bank-owned life insurance	(892)	(501)
Decrease (increase) in deferred tax asset	191	(653)
Other, net	570	(905)
Net cash provided by operating activities	14,197	18,634
INVESTING ACTIVITIES:
Proceeds from sales of available for sale securities	24,701	4,151
Proceeds from calls and maturities of available for sale securities	18,824	13,116
Proceeds from sales of equity securities	35	0
Purchases of available for sale securities	(36,356)	(57,239)
Net increase in loans	(181,784)	(168,950)
Acquisition of premises and equipment	(396)	(263)
Proceeds from the sale of premises and equipment	0	137
Proceeds from the sale of foreclosed assets	0	46
Purchase of bank-owned life insurance	(7)	(21)
Proceeds from bank-owned life insurance death benefit	1,656	2
Investment in limited partnership	0	(554)
Proceeds from redemption of regulatory stock	32,292	6,692
Purchases of regulatory stock	(38,410)	(6,700)
Net cash used for investing activities	(179,445)	(209,583)
FINANCING ACTIVITIES:
Net increase (decrease) in interest-bearing deposits	58,363	(73,943)
Net (decrease) increase in noninterest-bearing deposits	(47,556)	43,043
Proceeds from long-term borrowings	140,000	0
Repayment of long-term borrowings	(25,000)	(23,000)
Net increase in short-term borrowings	40,397	25,154
Finance lease principal payments	(138)	(134)
Dividends paid	(6,780)	(6,778)
Issuance of common stock	1,219	307
Purchases of treasury stock	0	(700)
Net cash provided by (used for) financing activities	160,505	(36,051)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(4,743)	(227,000)
CASH AND CASH EQUIVALENTS, BEGINNING	40,333	263,862
CASH AND CASH EQUIVALENTS, ENDING	35,590	36,862
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid	22,549	4,315
Cash settlement of options	0	1,074
Income taxes paid	2,950	2,371
Non-cash investing and financing activities:
Transfer of loans to foreclosed real estate	$ 770	$ 97

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements include the accounts of Penns Woods Bancorp, Inc. (the “Company”) and its wholly-owned subsidiaries: Woods Investment Company, Inc., Woods Real Estate Development Company, Inc., United Insurance Solutions, LLC., Luzerne Bank, and Jersey Shore State Bank (Jersey Shore State Bank and Luzerne Bank are referred to together as the “Banks”) and Jersey Shore State Bank’s wholly-owned subsidiary, The M Group, Inc. D/B/A The Comprehensive Financial Group (“The M Group”). All significant inter-company balances and transactions have been eliminated in the consolidation. The interim financial statements are unaudited, but in the opinion of management reflect all adjustments necessary for the fair presentation of results for such periods. The results of operations for any interim period are not necessarily indicative of results for the full year. These financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In reference to the attached financial statements, all adjustments are of a normal recurring nature pursuant to Rule 10-01(b) (8) of Regulation S-X. CECL Adoption and Updated Significant Accounting Policy On January 1, 2023, the Company adopted ASU 2016-13, Financial Instruments - Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred loss methodology, and is referred to as CECL. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including loans and HTM debt securities. It also applies to off-balance sheet (“OBS”) credit exposures (loan commitments, standby letters of credit, financial guarantees, and other similar instruments. The Company adopted CECL using the modified retrospective method for all financial assets measured at amortized cost, net of investments in leases and OBS credit exposures. Results for reporting periods beginning after January 1, 2023 are presented under CECL, while prior period results are reported in accordance with the previously applicable incurred loss methodology. The Company recorded an overall decrease of $3,789,000 to the Allowance for Credit Losses (“ACL”) on January 1, 2023 as a result of the adoption of CECL with an associated increase to retained earnings of $2,993,000 and decrease to deferred tax assets of $796,000. The Company also recorded a liability of $1,703,000 for OBS credit exposures that resulted in a decrease to retained earnings of $1,346,000 and an increase to deferred tax assets of $357,000. Allowance for Credit Losses: The discussion that follows describes the methodology for determining the ACL under the CECL model that was adopted effective January 1, 2023. The allowance methodology for prior periods is disclosed in the Company’s 2022 Annual Report on Form 10-K. The Company has elected to exclude accrued interest receivable from the measurement of its ACL. When a loan is placed on non-accrual status, any outstanding accrued interest is reversed against interest income. Loans: The ACL for loans is an estimate of the expected losses to be realized over the life of the loans in the portfolio. The ACL is determined for two distinct categories of loans: 1) loans evaluated collectively for expected credit losses and 2) loans evaluated individually for expected credit losses. The ACL also includes certain qualitative adjustments to the CECL model. Loans Evaluated Collectively : Management believes that internal credit ratings are the most relevant credit quality indicator for these types of loans, however; the Company does not assign internal credit ratings to smaller balance, homogeneous loans, such as home equity, residential mortgage, and consumer automobile loans. For these loans, the most relevant credit quality indicator is delinquency status and management evaluates credit quality based on the aging status of the loan. In order to determine the ACL: • Loans aggregated into pools based on similar risk characteristics. • The probability of default "PD" and loss given default rate "LGD" CECL model components are determined based on loss estimates driven by historical experience at the input level. • The PD model component uses "through the economic cycle transition" matrices based on the Company's historical loan and transaction data across each pool of loans. • The LGD model component calculates a lifetime LGD estimate across each pool of loans utilizing a nonparametric loss curve modeling approach. • Reasonable and supportable forecasts are incorporated into the PD model component. • Cash flow assumptions are established for each loan using maturity date, amortization schedule and interest rate. • A constant prepayment rate is calculated for each loan pool in the CECL model. Loans Evaluated Individually : Loans evaluated individually for expected credit losses include loans determined to be collateral-dependant. Loans evaluated individually may have specific allocations assigned. For loans measured using the fair value of collateral, if the analysis determines that sufficient collateral value would be available for repayment of the debt, then no allocations would be assigned to those loans. Collateral could be in the form of real estate or business assets, such as accounts receivable or inventory, in the case of commercial and industrial loans. For loans secured by real estate, estimated fair values are determined through appraisals performed by third-party appraisers or third party evaluations for commercial real estate loans and our internal appraisal department for 1-4 family real estate secured loans, discounted to arrive at expected net sale proceeds. For collateral dependent loans, estimated real estate fair values are also net of estimated selling costs. When a real estate secured loan is impaired, a decision is made regarding whether an updated 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; the condition of the property; the Company’s experience and knowledge of the real estate market; the purpose of the loan; market factors; payment status; the strength of any guarantors; and the existence and age of other indications of value such as broker price opinions, among others. The Company generally obtains updated evaluations for collateral dependent loans secured predominantly by real estate every 12 months. When updated evaluations are not obtained for loans secured by real estate, fair values are estimated based on the original appraisal values, as long as the original appraisal indicated an acceptable loan-to-value position and there has not been a significant deterioration in the collateral value since the original appraisal was performed. Management regularly reviews loans in the portfolio to assess credit quality indicators and to determine appropriate loan classification. For commercial loans, commercial mortgages and construction loans to commercial borrowers, an internal credit rating process is used. The Company believes that internal credit ratings are the most relevant credit quality indicator for these types of loans. The migration of loans through the various internal credit rating categories is a significant component of the ACL methodology for these loans, which bases the PD on this migration. Assigning credit ratings involves judgment. Credit ratings may be changed based on ongoing monitoring procedures, or if specific loan review assessments identify a deterioration or an improvement in the loan. The following is a summary of the Company's internal credit rating categories: • Pass : These loans do not currently pose undue credit risk and can range from the highest to average quality, depending on the degree of potential risk. • Special Mention : These loans have a heightened credit risk, but not to the point of justifying a classification of Substandard. Loans in this category are currently acceptable, but are nevertheless potentially weak. • Substandard or Lower : There exists a well-defined weakness or weaknesses that jeopardize the normal repayment of the debt. The allocation of the ACL is reviewed to evaluate its appropriateness in relation to the overall risk profile of the loan portfolio. The Company considers risk factors such as: local and national economic conditions; trends in delinquencies and non-accrual loans; the diversity of borrower industry types; and the composition of the portfolio by loan type. Qualitative and Other Adjustments to ACL: In addition to the quantitative credit loss estimates for loans evaluated collectively, qualitative factors that may not be fully captured in the quantitative results are also evaluated. These include changes in lending policy, volume of the portfolio, economy conditions, credit concentrations, level of problem loans, loan review, collateral value, and experience of credit staff. Qualitative adjustments are judgmental and are based on Management’s knowledge of the portfolio and the markets in which the Company operates. Qualitative adjustments are evaluated and approved on a quarterly basis. OBS Credit Exposures: The ACL for OBS credit exposures is recorded in other liabilities on the consolidated balance sheet. This ACL represents management’s estimate of expected losses in its unfunded loan commitments and other OBS credit exposures, such as letters of credit and credit recourse on sold residential mortgage loans. The ACL specific to unfunded commitments is determined by estimating future draws and applying the expected loss rates on those draws. Future draws are based on historical averages of utilization rates (i.e., the likelihood of draws taken). The ACL for OBS credit exposures is increased or decreased by charges or reductions to expense, through the provision for credit losses. The impact from the adoption of CECL is shown below: January 1, 2023 (In Thousands) Pre-Adoption Adoption Impact As Reported Assets ACL on loans Commercial, financial, and agricultural $ 1,914 $ 2,656 $ 4,570 Real estate mortgage: Residential 5,061 (3,893) 1,168 Commercial 6,110 (2,660) 3,450 Construction 188 (96) 92 Consumer automobile loans 1,617 240 1,857 Other consumer installment loans 109 602 711 Unallocated 638 (638) — Liabilities ACL for unfunded commitments 143 1,703 1,846 $ 15,780 $ (2,086) $ 13,694

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss by component shown net of tax and parenthesis indicating debits, as of September 30, 2023 and 2022 were as follows: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 (In Thousands) Net Unrealized (Loss) Gain on Available Defined Total Net Unrealized (Loss) Gain on Available Defined Total Beginning balance $ (9,753) $ (4,080) $ (13,833) $ (6,222) $ (3,458) $ (9,680) Other comprehensive loss before reclassifications (1,169) — (1,169) (5,026) — (5,026) Amounts reclassified from accumulated other comprehensive gain 36 29 65 123 14 137 Net current-period other comprehensive (loss) income (1,133) 29 (1,104) (4,903) 14 (4,889) Ending balance $ (10,886) $ (4,051) $ (14,937) $ (11,125) $ (3,444) $ (14,569) Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 (In Thousands) Net Unrealized (Loss) Gain on Available Defined Total Net Unrealized Gain (Loss) on Available Defined Total Beginning balance $ (9,819) $ (4,139) $ (13,958) $ 2,373 $ (3,485) $ (1,112) Other comprehensive loss before reclassifications (1,166) — (1,166) (13,631) — (13,631) Amounts reclassified from accumulated other comprehensive gain 99 88 187 133 41 174 Net current-period other comprehensive (loss) income (1,067) 88 (979) (13,498) 41 (13,457) Ending balance $ (10,886) $ (4,051) $ (14,937) $ (11,125) $ (3,444) $ (14,569) The reclassifications out of accumulated other comprehensive loss shown, net of tax and parenthesis indicating debits to net income, as of September 30, 2023 and 2022 were as follows: Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Net unrealized loss on available for sale securities $ (45) $ (156) Net debt securities losses, available for sale Income tax effect 9 33 Income tax provision Total reclassifications for the period $ (36) $ (123) Net unrecognized pension costs $ (37) $ (17) Other non-interest expense Income tax effect 8 3 Income tax provision Total reclassifications for the period $ (29) $ (14) Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item Nine months ended September 30, 2023 Nine months ended September 30, 2022 Net unrealized losses on available for sale securities $ (125) $ (168) Net debt securities losses, available for sale Income tax effect 26 35 Income tax provision Total reclassifications for the period $ (99) $ (133) Net unrecognized pension costs $ (111) $ (52) Other non-interest expense Income tax effect 23 11 Income tax provision Total reclassifications for the period $ (88) $ (41)

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the impairment model for most financial assets. This standard, along with several other subsequent codification updates, replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses that are expected to occur over the remaining life of a financial asset and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments in this update require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The new current expected credit losses model (“CECL”) will apply to the allowance for loan losses, available-for-sale and held-to-maturity debt securities, purchased financial assets with credit deterioration and certain off-balance sheet credit exposures. Management has completed its implementation plan, segmentation and testing, and model validation. The implementation plan included drafting of additional controls and policies to govern data uploads to its third-party vendor, balancing and reconciling, testing and auditing of inputs, and review and decision-making surrounding segmentation, methodologies, qualitative factor adjustments, and reasonable and supportable forecasts and reversion techniques. Parallel runs were processed during 2022 and the results were consistent with management's expectations. The implementation plan is currently going through the Company's control structure and internal control testing is being performed. As a result of adopting this standard, the Company recorded a decrease in its allowance effective January 1, 2023, of $2,086,000. As a result, the Company recorded a decrease in its loan allowance as of January 1, 2023, of $3,789,000; as well as an increase in its allowance for off-balance sheet credit exposures of $1,703,000. These estimates are subject to further refinements based on ongoing evaluations of our model, methodologies, and judgments, as well as prevailing economic conditions and forecasts as of the adoption date. The adoption of ASU 2016-13 is not expected to have a significant impact on our regulatory capital ratios. At adoption, the Company did not have any securities classified as HTM debt securities. No allowance was recorded related to AFS debt securities at the date of adoption, January 1, 2023. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment . To simplify the subsequent measurement of goodwill, the FASB eliminated Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The Update is effective for smaller reporting companies and all other entities for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. This Update is not expected to have a significant impact on the Company’s financial statements. In January 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, March 2020 , to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls “reference rate reform” if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Also, entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform if certain criteria are met, and can make a one-time election to sell and/or reclassify held-to-maturity debt securities that reference an interest rate affected by reference rate reform. The amendments in this ASU are effective for all entities upon issuance through December 31, 2022. This Update did not have a significant impact on the Company’s financial statements. In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. This ASU removes from U.S. GAAP the separation models for (1) convertible debt with a cash conversion feature and (2) convertible instruments with a beneficial conversion feature. As a result, entities will not separately present in equity an embedded conversion feature in such debt. Instead, they will account for a convertible debt instrument wholly as debt, and for convertible preferred stock wholly as preferred stock (i.e., as a single unit of account), unless (1) a convertible instrument contains features that require bifurcation as a derivative under ASC 815 or (2) a convertible debt instrument was issued at a substantial premium. This ASU requires entities to provide expanded disclosures about the terms and features of convertible instruments, how the instruments have been reported in the entity’s financial statements, and information about events, conditions, and circumstances that can affect how to assess the amount or timing of an entity’s future cash flows related to those instruments. The amendments in this ASU are effective for public business entities that are not smaller reporting companies, for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. For all other entities, this ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The guidance may be early adopted for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. This Update is not expected to have a significant impact on the Company’s financial statements. In March 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (ASC 326): Troubled Debt Restructurings (TDRs) and Vintage Disclosures . The guidance amends ASC 326 to eliminate the accounting guidance for TDRs by creditors, while enhancing disclosure requirements for certain loan refinancing and restructuring activities by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying TDR recognition and measurement guidance, creditors will determine whether a modification results in a new loan or continuation of existing loan. These amendments are intended to enhance existing disclosure requirements and introduce new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. Additionally, the amendments to ASC 326 require that an entity disclose current-period gross writeoffs by year of origination within the vintage disclosures, which requires that an entity disclose the amortized cost basis of financing receivables by credit quality indicator and class of financing receivable by year of origination. The guidance is only for entities that have adopted the amendments in Update 2016-13 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. This Update did not have a significant impact on the Company’s financial statements. In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820) – Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. This amendment clarifies the guidance in Topic 820, Fair Value Measurement, when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security. It also introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted. The amendments will be applied prospectively, with any adjustments from the adoption of the amendments recognized in earnings and disclosed on the date of adoption. This Update is not expected to have a significant impact on the Company’s financial statements. In March 2023, the FASB issued ASU 2023-02, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. ASU 2023-02 permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. ASU 2023-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. This Update is not expected to have a significant impact on the Company’s financial statements. In July 2023, the FASB issued ASU 2023-03, Presentation of Financial Statements (Topic 205), Income Statement-Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation-Stock Compensation (Topic 718), which amends or supersedes various SEC paragraphs within the Codification to conform to past SEC announcements and guidance issued by the SEC. The ASU does not provide any new guidance so there is no transition or effective date associated with it. This ASU did not have a significant impact on the Company’s financial statements.

Per Share Data

Per Share Data	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Per Share Data	Per Share Data There are no convertible securities which would affect the denominator in calculating basic and dilutive earnings per share. There were a total of 1,000,000 stock options, with an average exercise price of $25.55, outstanding on September 30, 2023. A portion of these options were included, on a weighted average basis, in the computation of diluted earnings per share for the period due to the average market price of common shares of $25.08 for the periods being greater than the strike price. There were a total of 917,000 stock options, with an average exercise price of $25.35 that were excluded, on a weighted average basis, in the computation of diluted earnings per share for the period due to the average market price of common shares of $23.78 being less than the strike price for the period ending September 30, 2022. Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Weighted average common shares issued 7,582,665 7,561,453 7,574,561 7,557,250 Weighted average treasury stock shares (510,225) (510,225) (510,225) (496,379) Weighted average common shares outstanding - basic 7,072,440 7,051,228 7,064,336 7,060,871 Dilutive effect of outstanding stock options 156,500 — 156,500 — Weighted average common shares outstanding - diluted 7,228,940 7,051,228 7,220,836 7,060,871

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities The amortized cost, gross unrealized gains and losses, and fair values of our investment securities portfolio at September 30, 2023 and December 31, 2022 are as follows: September 30, 2023 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): U.S. Government and agency securities $ 4,001 $ — $ (137) $ 3,864 Mortgage-backed securities 12,101 — (705) 11,396 State and political securities 129,024 — (9,177) 119,847 Other debt securities 53,321 — (3,761) 49,560 Total debt securities $ 198,447 $ — $ (13,780) $ 184,667 Investment equity securities: Equity securities $ 1,300 $ — $ (228) $ 1,072 December 31, 2022 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): U.S. Government and agency securities $ 3,002 $ — $ (106) $ 2,896 Mortgage-backed securities 1,496 — (214) 1,282 State and political securities 151,426 157 (8,774) 142,809 Other debt securities 50,178 58 (3,550) 46,686 Total debt securities $ 206,102 $ 215 $ (12,644) $ 193,673 Investment equity securities: Equity securities $ 1,350 $ — $ (208) $ 1,142 The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time, that the individual debt securities have been in a continuous unrealized loss position, at September 30, 2023 and December 31, 2022. September 30, 2023 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) Value Losses Value Losses Value Losses Available for sale (AFS): U.S. Government and agency securities $ 967 $ (33) $ 2,897 $ (104) $ 3,864 $ (137) Mortgage-backed securities 10,263 (454) 1,125 (251) 11,388 (705) State and political securities 19,050 (1,013) 97,522 (8,164) 116,572 (9,177) Other debt securities 10,596 (348) 35,841 (3,413) 46,437 (3,761) Total debt securities $ 40,876 $ (1,848) $ 137,385 $ (11,932) $ 178,261 $ (13,780) December 31, 2022 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) Value Losses Value Losses Value Losses Available for sale (AFS): U.S. Government and agency securities $ 2,896 $ (106) $ — $ — $ 2,896 $ (106) Mortgage-backed securities — — 1,282 (214) 1,282 (214) State and political securities 95,444 (4,797) 36,283 (3,977) 131,727 (8,774) Other debt securities 16,896 (664) 25,144 (2,886) 42,040 (3,550) Total debt securities $ 115,236 $ (5,567) $ 62,709 $ (7,077) $ 177,945 $ (12,644) At September 30, 2023, there were a total of 43 securities in a continuous unrealized loss position for less than twelve months and 184 individual securities that were in a continuous unrealized loss position for twelve months or greater. No credit losses occurred for the period ended September 30, 2023. The Company reviews its position quarterly and has determined that, at September 30, 2023, the declines outlined in the above table represent temporary non-credit declines and the Company does not intend to sell, and does not believe it will be required to sell, these securities before recovery of their cost basis, which may be at maturity. The Company has concluded that the unrealized losses disclosed above are not credit-related but are the result of interest rate changes, sector credit ratings changes, or company-specific ratings changes that are not expected to result in the non-collection of principal and interest during the period. The amortized cost and fair value of debt securities at September 30, 2023, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities since borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (In Thousands) Amortized Cost Fair Value Due in one year or less $ 39,163 $ 38,246 Due after one year to five years 88,544 82,446 Due after five years to ten years 65,437 59,047 Due after ten years 5,303 4,928 Total $ 198,447 $ 184,667 Total gross proceeds from sales of debt securities available for sale for the nine months ended September 30, 2023 was $24,701,000, compared to $4,151,000 for the corresponding 2022 period. The following table represents gross realized gains and losses from the sales of debt securities available for sale: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2023 2022 2023 2022 Available for sale (AFS): Gross realized gains: State and political securities $ 1 $ — $ 146 $ 14 Other debt securities — — — — Total gross realized gains $ 1 $ — $ 146 $ 14 Gross realized losses: State and political securities $ (46) $ (156) $ (271) $ (182) Investment securities with a carrying value of approximately $114,938,000 and $154,946,000 at September 30, 2023 and December 31, 2022, respectively, were pledged to secure certain deposits, repurchase agreements, and for other purposes as required by law. At September 30, 2023 and December 31, 2022, we had $1,072,000 and $1,142,000, respectively, in equity securities recorded at fair value. The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2023 2022 2023 2022 Net losses recognized in equity securities during the period $ (37) $ (55) $ (36) $ (158) Less: Net losses realized on the sale of equity securities during the period (1) — (1) — Unrealized losses recognized in equity securities held at reporting date $ (36) $ (55) $ (35) $ (158)

Loans

Loans	9 Months Ended
	Sep. 30, 2023
Loans and Leases Receivable Disclosure [Abstract]
Loans	Loans Management segments the Banks' loan portfolio to a level that enables risk and performance monitoring according to similar risk characteristics. Loans are segmented based on the underlying collateral characteristics. Categories include commercial, financial, and agricultural, real estate, and installment loans. Real estate loans are further segmented into three categories: residential, commercial, and construction, while installment loans are classified as either consumer automobile loans or other installment loans. The following table presents the related aging categories of loans, by class, as of September 30, 2023 and December 31, 2022: September 30, 2023 Past Due Past Due 90 30 To 89 Past Due 90 Days Or More (In Thousands) Days Days Or More Current & Still Accruing Total Commercial, financial, and agricultural $ 255 $ 33 $ 211,185 $ 8 $ 211,473 Real estate mortgage: Residential 5,013 1,151 767,618 1,434 773,782 Commercial 775 92 524,799 59 525,666 Construction 472 32 55,329 — 55,833 Consumer automobile loans 1,121 144 238,503 141 239,768 Other consumer installment loans 157 4 10,660 36 10,821 $ 7,793 $ 1,456 $ 1,808,094 $ 1,678 $ 1,817,343 Net deferred loan fees and discounts 1,118 Allowance for credit losses (12,890) Loans, net $ 1,805,571 December 31, 2022 Past Due Past Due 90 30 To 89 Days Or More Non- (In Thousands) Days & Still Accruing Accrual Current Total Commercial, financial, and agricultural $ 94 $ — $ 432 $ 189,935 $ 190,461 Real estate mortgage: Residential 5,472 1,120 524 701,093 708,209 Commercial 2,564 60 2,659 495,349 500,632 Construction 511 — — 42,797 43,308 Consumer automobile loans 2,089 80 — 183,943 186,112 Other consumer installment loans 152 15 — 10,194 10,361 $ 10,882 $ 1,275 $ 3,615 $ 1,623,311 1,639,083 Net deferred loan fees and discounts 648 Allowance for loan losses (15,637) Loans, net $ 1,624,094 The Allowance for Credit Losses ("ACL") related to loans consists of loans evaluated collectively and individually for expected credit losses. The ACL related to loans represents an estimate of expected credit losses over the expected life of the loans as of the balance sheet date and is recorded as a reduction to net loans. The ACL for off balance sheet credit exposure includes estimated losses on unfunded loan commitments, letters of credit and other off balance sheet credit exposures and is recorded in other liabilities. The total ACL is increased by charges to expense, through the provision for credit losses, and decreased by charge-offs, net of recoveries. The following table presents the components of the ACL as of September 30, 2023: September 30, (In Thousands) 2023 ACL - loans $ 12,890 ACL - off balance sheet credit exposure 1,240 Total ACL $ 14,130 Non-Accrual Loans September 30, 2023 December 31, 2022 Non-accrual Loans (In Thousands) With a Related ACL Without a Related ACL Total Total Non-accrual loans Commercial, financial, and agricultural $ — $ 543 $ 543 $ 432 Real estate mortgage: Residential 24 265 289 524 Commercial 947 226 1,173 2,659 Construction — — — — Consumer automobile — — — — Other consumer installment loans — — — — $ 971 $ 1,034 $ 2,005 $ 3,615 Total interest income recorded on non-accrual loans at September 30, 2023 totaled $104,000. The following table presents the recorded investment, unpaid principal balance, and related allowance of impaired loans by segment as of December 31, 2022: December 31, 2022 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 295 $ 295 $ — Real estate mortgage: Residential 3,388 3,388 — Commercial 2,588 2,588 — Construction — — — Consumer automobile loans — — — Installment loans to individuals — — — 6,271 6,271 — With an allowance recorded: Commercial, financial, and agricultural 403 403 4 Real estate mortgage: Residential 933 933 111 Commercial 3,607 3,607 827 Construction — — — Consumer automobile loans — — — Installment loans to individuals 19 — 19 4,962 4,943 961 Total: Commercial, financial, and agricultural 698 698 4 Real estate mortgage: Residential 4,321 4,321 111 Commercial 6,195 6,195 827 Construction — — — Consumer automobile loans — — — Installment loans to individuals 19 — 19 $ 11,233 $ 11,214 $ 961 The following table presents outstanding loan balances of collateral-dependent loans by class as of September 30, 2023: (In Thousands) Real estate Unsecured* Total Real estate mortgage: Residential $ 238 $ — $ 238 Commercial 92 332 424 Total $ 330 $ 332 $ 662 * Loan considered unsecured due to lien position on property The following table presents the average recorded investment in impaired loans and related interest income recognized for the three and nine months ended September 30, 2022: Three Months Ended September 30, 2022 (In Thousands) Average Interest Income Interest Income Commercial, financial, and agricultural $ 711 $ 5 $ — Real estate mortgage: Residential 4,586 47 — Commercial 7,227 50 — Construction — — — Consumer automobile 7 — — Other consumer installment loans 10 — — $ 12,541 $ 102 $ — Nine Months Ended September 30, 2022 (In Thousands) Average Interest Income Interest Income Commercial, financial, and agricultural $ 782 $ 15 $ — Real estate mortgage: Residential 4,765 141 — Commercial 7,492 151 — Construction 42 1 — Consumer automobile 3 1 — Other consumer installment loans 15 — — $ 13,099 $ 309 $ — Loan Modifications On January 1, 2023, the Corporation adopted ASU 2022-02. Loan modifications reported below do not include modifications with insignificant payment delays. ASU 2022-02 lists the following factors when considering if the loan modification has insignificant payment delays: (1) the amount of the restructured payments subject to the delay is insignificant relative to the unpaid principal or collateral value of the debt and will result in an insignificant shortfall in the contractual amount due, and (2) the delay in timing of the restructured payment period is insignificant relative to the frequency of payments due under the debt, the debt’s original contractual maturity or the debt’s original expected duration. The ACL incorporates an estimate of lifetime expected credit losses and is recorded upon asset origination or acquisition. The starting point for the estimate of the ACL is historical loss information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. The Corporation uses a probability of default/loss given default model to determine the allowance for credit losses. An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. There were no loan modifications completed during the three and nine months ended September 30, 2023. There were no loan modifications considered to be TDRs completed during the three and nine months ended September 30, 2022. There were no loan modifications made during the twelve months prior to September 30, 2023 that defaulted during the nine months ended September 30, 2023. There were no loan modifications considered to be a TDR made during the twelve months previous to September 30, 2022 that defaulted during the nine months ended September 30, 2022. Loans considered modifications amounted to $5,233,000 and $7,468,000 as of September 30, 2023 and December 31, 2022, respectively. The amount of foreclosed residential real estate held at September 30, 2023 and December 31, 2022, totaled $588,000 and $950,000, respectively. Consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process at September 30, 2023 and December 31, 2022, totaled $328,000 and $890,000, respectively. Internal Credit Ratings Management uses a ten point internal credit rating system to monitor the credit quality of the overall loan portfolio. The first six categories are considered not criticized, and are aggregated as “Pass” rated. The criticized rating categories utilized by management generally follow bank regulatory definitions. The special mention category includes assets that are currently protected but are potentially weak, resulting in an undue and unwarranted credit risk, but not to the point of justifying a substandard classification. Loans in the substandard category have well-defined weaknesses that jeopardize the liquidation of the debt, and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. All loans greater than 90 days past due are evaluated for substandard classification. Loans in the doubtful category exhibit the same weaknesses found in the substandard loans; however, the weaknesses are more pronounced. Such loans are static and collection in full is improbable. However, these loans are not yet rated as loss because certain events may occur which would salvage the debt. Loans classified as loss are considered uncollectible and charge-off is imminent. To help ensure that credit ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Banks have a structured loan rating process with several layers of internal and external oversight. Generally, consumer and residential mortgage loans are included in the pass category unless a specific action, such as bankruptcy, repossession, or death occurs to raise awareness of a possible credit event. An external semi-annual loan review of large commercial relationships is performed, as well as a sample of smaller transactions. The 2023 loan review will evaluate 55% of the Banks' average outstanding commercial portfolio which can consist of outstanding loans, commercial real estate mortgages and outstanding commitments. Detailed reviews, including plans for resolution, are performed on loans classified as substandard, doubtful, or loss on a quarterly basis. The following table presents the credit quality categories identified above as of September 30, 2023 and December 31, 2022: September 30, 2023 (In Thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Loans Converted to Term Total Commercial, financial, and agricultural Pass $ 34,288 $ 53,560 $ 42,363 $ 33,239 $ 9,224 $ 6,756 $ 29,212 $ 114 $ 208,756 Special Mention — 201 42 — — 168 223 — 634 Substandard or Lower — — — 85 — 755 490 753 2,083 $ 34,288 $ 53,761 $ 42,405 $ 33,324 $ 9,224 $ 7,679 $ 29,925 $ 867 $ 211,473 Current period gross write offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real estate mortgage: Residential Pass $ 117,468 $ 218,678 $ 120,137 $ 70,364 $ 45,930 $ 17,038 $ 51,814 $ 129,802 $ 771,231 Special Mention — 409 274 — — — — — 683 Substandard or Lower — — — — — 1,798 — 70 1,868 $ 117,468 $ 219,087 $ 120,411 $ 70,364 $ 45,930 $ 18,836 $ 51,814 $ 129,872 $ 773,782 Current period gross write offs $ — $ — $ — $ — $ — $ 9 $ 72 $ — $ 81 Commercial Pass $ 43,594 $ 105,217 $ 134,960 $ 50,535 $ 25,913 $ 147,471 $ 10,827 $ 691 $ 519,208 Special Mention — — 1,065 — — 48 — — 1,113 Substandard or Lower — — — — 63 5,282 — — 5,345 $ 43,594 $ 105,217 $ 136,025 $ 50,535 $ 25,976 $ 152,801 $ 10,827 $ 691 $ 525,666 Current period gross write offs $ 59 $ — $ — $ — $ — $ 3 $ — $ — $ 62 Construction Pass $ 21,093 $ 13,072 $ 15,045 $ 1,417 $ 402 $ 4,452 $ 261 $ — $ 55,742 Special Mention — — — — — — — — — Substandard or Lower — — — — — 91 — — 91 $ 21,093 $ 13,072 $ 15,045 $ 1,417 $ 402 $ 4,543 $ 261 $ — $ 55,833 Current period gross write offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer Automobile Pass $ 101,214 $ 85,276 $ 21,969 $ 17,486 $ 8,716 $ 5,107 $ — $ — $ 239,768 Special Mention — — — — — — — — — Substandard or Lower — — — — — — — — — $ 101,214 $ 85,276 $ 21,969 $ 17,486 $ 8,716 $ 5,107 $ — $ — $ 239,768 Current period gross write offs $ — $ 247 $ 136 $ 112 $ 6 $ 7 $ — $ — $ 508 Installment loans to individuals Pass $ 2,609 $ 2,406 $ 1,291 $ 558 $ 427 $ 3,486 $ — $ 44 $ 10,821 Special Mention — — — — — — — — — Substandard or Lower — — — — — — — — — $ 2,609 $ 2,406 $ 1,291 $ 558 $ 427 $ 3,486 $ — $ 44 $ 10,821 Current period gross write offs $ 179 $ 28 $ 20 $ 6 $ 6 $ 19 $ 13 $ 11 $ 282 The information presented in the table above is not required for periods prior to the adoption of CECL. The following table presents the most comparable required information for the prior period, internal credit ratings for the report loan segments as of December 31, 2022: December 31, 2022 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 184,783 $ 705,515 $ 488,993 $ 43,209 $ 186,112 $ 10,361 $ 1,618,973 Special Mention 125 266 4,526 — — — 4,917 Substandard 5,553 2,428 7,113 99 — — 15,193 $ 190,461 $ 708,209 $ 500,632 $ 43,308 $ 186,112 $ 10,361 $ 1,639,083 Allowance for Credit Losses Maintaining an appropriate Allowance for Credit Losses ("ACL") is dependent on various factors, including the ability to identify potential problem loans in a timely manner. For commercial construction, residential construction, commercial and industrial, and commercial real estate, an internal credit rating process is used. Management believes that internal credit ratings are the most relevant credit quality indicator for these types of loans. The migration of loans through the various internal credit rating categories is a significant component of the ACL methodology for these loans, which bases the probability of default on this migration. Assigning credit ratings involves judgment. The Company's loan review process provide a separate assessment of credit rating accuracy. Credit ratings may be changed based on the ongoing monitoring procedures performed by loan officers or credit administration staff or if specific loan review assessments identify a deterioration or an improvement in the loans. Management considers the performance of the loan portfolio and its impact on the ACL. The Company does not assign internal Credit ratings to smaller balance, homogeneous loans, such as home equity, residential mortgage, and consumer automobile loans. For these loans, the most relevant credit quality indicator is delinquency status and management evaluates credit quality based on the aging status of the loan. Historical loss trends are used in the estimation of losses in the current portfolio. These historical loss amounts are modified by other qualitative factors. A historical charge-off factor is calculated utilizing the charge-off and recovery data over the past ten years. Management has identified a number of additional qualitative factors which it uses to supplement the historical charge-off factor because these factors are likely to cause estimated credit losses associated with the existing loan pools to differ from historical loss experience. The additional factors that are evaluated quarterly and updated using information obtained from internal, regulatory, and governmental sources are: national and local economic trends and conditions; trends in volumes and terms of loans; effects of changes in lending policies; experience, ability, and depth of lending staff; value of underlying collateral; and concentrations of credit from a loan type, industry and/or geographic standpoint. Management reviews the loan portfolio on a quarterly basis in order to make appropriate and timely adjustments to the ACL. When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ACL. Activity in the allowance is presented for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 3,019 $ 1,078 $ 4,191 $ 178 $ 2,446 $ 680 $ — $ 11,592 Charge-offs — — — — (130) (86) — (216) Recoveries 106 22 1 — 27 27 — 183 Provision 788 68 131 20 241 83 — 1,331 Ending Balance $ 3,913 $ 1,168 $ 4,323 $ 198 $ 2,584 $ 704 $ — $ 12,890 Three Months Ended September 30, 2022 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 2,108 $ 4,818 $ 5,395 $ 199 $ 1,307 $ 110 $ 456 $ 14,393 Charge-offs (18) — — — (57) (85) — (160) Recoveries 93 1 1 — 10 18 — 123 Provision (114) 376 140 11 325 75 42 855 Ending Balance $ 2,069 $ 5,195 $ 5,536 $ 210 $ 1,585 $ 118 $ 498 $ 15,211 t Nine Months Ended September 30, 2023 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,914 $ 5,061 $ 6,110 $ 188 $ 1,617 $ 109 $ 638 $ 15,637 Impact of adopting ASC 326 2,656 (3,893) (2,660) (96) 240 602 (638) (3,789) Charge-offs — (81) (62) — (507) (283) — (933) Recoveries 1,067 25 26 — 66 65 — 1,249 Provision (1,724) 56 909 106 1,168 211 — 726 Ending Balance $ 3,913 $ 1,168 $ 4,323 $ 198 $ 2,584 $ 704 $ — $ 12,890 Nine Months Ended September 30, 2022 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,946 $ 4,701 $ 5,336 $ 179 $ 1,411 $ 111 $ 492 $ 14,176 Charge-offs (18) (15) (155) — (234) (188) — (610) Recoveries 138 46 3 28 32 63 — 310 Provision 3 463 352 3 376 132 6 1,335 Ending Balance $ 2,069 $ 5,195 $ 5,536 $ 210 $ 1,585 $ 118 $ 498 $ 15,211 The shift in allocation and the changes in the provision for credit losses are primarily due to changes in the credit metrics within the loan portfolio coupled with the adoption of CECL on January 1, 2023. The decrease in provision for consumer automobile loans for the three month period was driven by increased net recoveries that offset the impact of increased loan volume, while the increase in provision for the nine month period ended September 30, 2023 was driven by loan volume coupled with increased net charge-offs. The increase in provision for commercial, financial, and agricultural for the three month period was primarily the result of loan volume, while the decrease in provision for the nine month period ended September 30, 2023 was the result of improving credit metrics coupled with a large recovery during the three month period ended June 30, 2023 which effected the historical loss rate calculations. The provision for commercial real estate remained steady for the three month period and increased for the nine month period ended September 30, 2023 primarily due to growth within this segment of the loan portfolio. The Company grants commercial, industrial, residential, and installment loans to customers primarily throughout north-east and central Pennsylvania. Although the Company has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on the economic conditions within this region. The Company has a concentration of the following to gross loans at September 30, 2023 and 2022: September 30, 2023 2022 Owners of residential rental properties 18.99 % 19.95 % Owners of commercial rental properties 14.62 % 16.09 % The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of December 31, 2022: December 31, 2022 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer Automobile Other consumer installment Unallocated (In Thousands) Residential Commercial Construction Totals Allowance for Loan Losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 4 $ 111 $ 827 $ — $ — $ 19 $ — $ 961 Collectively evaluated for impairment 1,910 4,950 5,283 188 1,617 90 638 14,676 Total ending allowance balance $ 1,914 $ 5,061 $ 6,110 $ 188 $ 1,617 $ 109 $ 638 $ 15,637 Loans: Individually evaluated for impairment $ 698 $ 4,321 $ 6,195 $ — $ — $ 19 $ 11,233 Collectively evaluated for impairment 189,763 703,888 494,437 43,308 186,112 10,342 1,627,850 Total ending loans balance $ 190,461 $ 708,209 $ 500,632 $ 43,308 $ 186,112 $ 10,361 $ 1,639,083

Net Periodic Benefit Cost-Defin

Net Periodic Benefit Cost-Defined Benefit Plans	9 Months Ended
	Sep. 30, 2023
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Net Periodic Benefit Cost-Defined Benefit Plans	Net Periodic Benefit Cost-Defined Benefit Plans For a detailed disclosure on the Company’s pension and employee benefits plans, please refer to Note 13 of the Company’s Consolidated Financial Statements included in the Annual Report on Form 10-K for the year ended December 31, 2022. The following sets forth the components of the net periodic expense/(gain) of the domestic non-contributory defined benefit plan for the three and nine months ended September 30, 2023 and 2022, respectively: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2023 2022 2023 2022 Interest cost $ 198 $ 138 $ 594 $ 414 Expected return on plan assets (326) (412) (978) (1,237) Amortization of net loss 37 17 111 52 Net periodic benefit $ (91) $ (257) $ (273) $ (771) Employer Contributions The Company previously disclosed in its consolidated financial statements, included in the Annual Report on Form 10-K for the year ended December 31, 2022, that it does not expect to contribute to its defined benefit plan in 2023. As of September 30, 2023, there were no contributions made to the pension plan.

Stock Purchase Plans

Stock Purchase Plans	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock Purchase Plans	Stock Purchase PlansThe Company maintains an Employee Stock Purchase Plan (“Plan”).  The Plan is intended to encourage employee participation in the ownership and economic progress of the Company.  The Plan allows for up to 1,500,000 shares to be purchased by employees.  The purchase price of the shares is 95% of market value with an employee eligible to purchase up to the lesser of 15% of base compensation or $12,000 in market value annually.  During the nine months ended September 30, 2023 and 2022, there were 3,120 and 2,960 shares issued under the Plan, respectively, for total proceeds of $73,000 and $67,000.The Company maintains the 2020 Non-Employee Director Compensation Plan ("Director Plan"). Under this Director Plan, non-employee directors who have not attained specified stock ownership levels are required to receive a portion of their annual compensation in the form of common stock (currently 50% of total annual compensation), with the ability to elect to receive up to 100% of annual compensation in the form of common stock by making a written election prior to the calendar year to which the compensation relates. The Director Plan allows for up to 100,000 shares to be issued. As of September 30, 2023, the Company has issued a total of 42,191 shares of common stock to non-employee directors under the Director Plan in lieu of otherwise payable cash compensation with 7,560 and 9,968 shares issued, respectively, with an associated expense of $193,000 and $240,000 during the nine months ended September 30, 2023 and 2022.

Off-Balance Sheet Risk

Off-Balance Sheet Risk	9 Months Ended
	Sep. 30, 2023
Off Balance Sheet Risk
Off-Balance Sheet Risk	Off-Balance Sheet Risk The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments are primarily comprised of commitments to extend credit, standby letters of credit, and credit exposure from the sale of assets with recourse. These instruments involve, to varying degrees, elements of credit, interest rate, or liquidity risk in excess of the amount recognized in the Consolidated Balance Sheet. The contract amounts of these instruments express the extent of involvement the Company has in particular classes of financial instruments. The Company’s exposure to credit loss from nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of these instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The Company may require collateral or other security to support financial instruments with off-balance sheet credit risk. Financial instruments whose contract amounts represent credit risk are as follows at September 30, 2023 and December 31, 2022: (In Thousands) September 30, 2023 December 31, 2022 Commitments to extend credit $ 161,270 $ 169,365 Standby letters of credit 9,467 9,915 Credit exposure from the sale of assets with recourse 7,274 7,358 $ 178,011 $ 186,638 Allowance for credit losses $ 1,240 $ 143 Commitments to extend credit are legally binding agreements to lend to customers. Commitments generally have fixed expiration dates or other termination clauses and may require payment of fees. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future liquidity requirements. The Company evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company, on an extension of credit is based on management’s credit assessment of the counterparty. Standby letters of credit represent conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These instruments are issued primarily to support bid or performance related contracts. The coverage period for these instruments is typically a one year period with an annual renewal option subject to prior approval by management. Fees earned from the issuance of these letters are recognized upon expiration of the coverage period. For secured letters of credit, the collateral is typically Bank deposit instruments or customer business assets.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following disclosures show the hierarchical disclosure framework associated with the level of pricing observations utilized in measuring assets and liabilities at fair value. Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities include items for which quoted prices are available but traded less frequently, and items that are fair valued using other financial instruments, the parameters of which can be directly observed. Level III: Assets and liabilities that have little to no pricing observability as of the reported date. These items do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation. This hierarchy requires the use of observable market data when available. The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a recurring basis as of September 30, 2023 and December 31, 2022, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. September 30, 2023 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: U.S. Government and agency securities $ — $ 3,864 $ — $ 3,864 Mortgage-backed securities — 11,396 — 11,396 State and political securities — 119,847 — 119,847 Other debt securities — 49,560 — 49,560 Investment equity securities: Equity securities 1,072 — — 1,072 December 31, 2022 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: U.S. Government and agency securities $ — $ 2,896 $ — $ 2,896 Mortgage-backed securities — 1,282 — 1,282 State and political securities — 142,809 — 142,809 Other debt securities — 46,686 — 46,686 Investment equity securities: Equity securities 1,142 — — 1,142 The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a non-recurring basis as of September 30, 2023 and December 31, 2022, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. September 30, 2023 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Collateral dependent loans $ — $ — $ 331 $ 331 Other real estate owned — — 853 853 December 31, 2022 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 1,923 $ 1,923 Other real estate owned — — 83 83 The following tables present a listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques as of September 30, 2023 and December 31, 2022: September 30, 2023 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Collateral dependent loans $ 331 Appraisal of collateral (1) Appraisal adjustments (1) (15)% to (24)% (20)% Other real estate owned $ 853 Appraisal of collateral (1) Appraisal adjustments (1) (20)% (20)% (1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. December 31, 2022 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans $ 1,923 Appraisal of collateral (1) Appraisal adjustments (1) 0% to (34)% (14)% Other real estate owned $ 83 Appraisal of collateral (1) Appraisal adjustments (1) (20)% (20)% (1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company is required to disclose fair values for its financial instruments. Fair values are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Also, it is the Company’s general practice and intention to hold most of its financial instruments to maturity and not to engage in trading or sales activities. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These fair values are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions can significantly affect the fair values. Fair values have been determined by the Company using historical data and an estimation methodology suitable for each category of financial instruments. The Company’s fair values are set forth below for the Company’s other financial instruments. As certain assets and liabilities, such as deferred tax assets, premises and equipment, and many other operational elements of the Company, are not considered financial instruments but have value, this fair value of financial instruments would not represent the full market value of the Company. The fair values of the Company’s financial instruments not recorded at fair value on a recurring or nonrecurring basis are as follows at September 30, 2023 and December 31, 2022: Carrying Fair Fair Value Measurements at September 30, 2023 (In Thousands) Value Value Level I Level II Level III Financial assets: Loans held for sale (1) $ 4,083 $ 4,083 $ 4,083 $ — $ — Loans, net 1,805,571 1,761,944 — — 1,761,944 Financial liabilities: Time deposits & brokered deposits 356,244 350,456 — — 350,456 Short-term borrowings 193,746 193,746 193,746 — — Long-term borrowings 217,645 238,977 — — 238,977 (1) The financial instrument is carried at cost at, September 30, 2023 which approximate the fair value of the instruments Carrying Fair Fair Value Measurements at December 31, 2022 (In Thousands) Value Value Level I Level II Level III Financial assets: Loans held for sale (1) $ 3,298 $ 3,298 $ 3,298 $ — $ — Loans, net 1,624,094 1,594,073 — — 1,594,073 Financial liabilities: Time deposits & brokered deposits 146,282 137,559 — — 137,559 Short-term borrowings 153,349 153,349 153,349 — — Long-term borrowings 102,783 99,118 — — 99,118 (1) The financial instrument is carried at cost at, December 31, 2022 which approximate the fair value of the instruments The methods and assumptions used by the Company in estimating fair values of financial instruments is in accordance with ASC Topic 825, Financial Instruments , as amended by ASU 2016-01 which requires public entities to use exit pricing in the calculation of the above tables.

Stock Options

Stock Options	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock Options	Stock Options In 2020, the Company adopted the 2020 Equity Incentive Plan which replaced the 2014 Equity Incentive Plan that did not have any remaining shares available for issuance. The plans are designed to help the Company attract, retain, and motivate employees and non-employee directors. Incentive stock options, non-qualified stock options, restricted stock, restricted stock units, and other equity-based awards may be granted as part of the plan. As of January 1, 2023, the Company had a total of 914,000 stock options outstanding. During the nine months ended as of September 30, 2023, the Company issued 89,000 stock options with a strike price of $27.77 to a group of employees. The options granted in 2023 all expire ten years from the grant date. Of the 89,000 grants awarded in 2023, 59,500 of the options vest in three years while the 29,500 remaining options vest in five years. Stock options outstanding as of September 30, 2023 are presented below: Stock Options Granted Date Shares Forfeited Cash Settlement Outstanding Strike Price Vesting Period Expiration January 20, 2023 59,500 — — 59,500 $ 27.77 3 years 10 years January 20, 2023 29,500 — — 29,500 27.77 5 years 10 years January 18, 2022 156,000 — — 156,000 24.10 3 years 10 years January 18, 2022 78,000 — — 78,000 24.10 5 years 10 years April 9, 2021 156,500 — — 156,500 24.23 3 years 10 years April 9, 2021 78,000 — — 78,000 24.23 5 years 10 years March 11, 2020 119,300 — — 119,300 25.34 3 years 10 years March 11, 2020 119,200 — — 119,200 25.34 5 years 10 years March 15, 2019 120,900 (19,800) — 101,100 28.01 3 years 10 years March 15, 2019 119,100 (19,200) — 99,900 28.01 5 years 10 years August 27, 2015 58,125 (26,250) (28,875) 3,000 28.02 5 years 10 years A summary of stock option activity for the nine months ended September 30, 2023 is presented below: September 30, 2023 Shares Weighted Average Exercise Price Outstanding, beginning of year 914,000 $ 25.34 Granted 89,000 27.77 Forfeited (3,000) 28.01 Expired — — Outstanding, end of period 1,000,000 $ 25.55 Exercisable, end of period 223,400 $ 26.58 The estimated fair value of options, including the effect of estimated forfeitures, is recognized as expense on a straight line basis over the options’ vesting periods while ensuring that the cumulative amount of compensation cost recognized at least equals the value of the vested portion of the award at that date. The fair value of stock options is estimated using the Black-Scholes option pricing model. The following is a summary of the assumptions used in this model for stock options granted for the nine months ended September 30, 2023: Nine months ended September 30, 2023 Risk-free interest rate 3.76 % Expected volatility 31 % Expected Annual dividend $ 1.28 Expected life 6.84 years Weighted average grant date fair value per option $ 6.11

Reclassification of Comparative

Reclassification of Comparative Amounts	9 Months Ended
	Sep. 30, 2023
Reclassification of Comparative Amounts
Reclassification of Comparative Amounts	Reclassification of Comparative AmountsCertain comparative amounts for the prior period have been reclassified to conform to current period presentations. Such reclassifications had no effect on net income or shareholders’ equity

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The consolidated financial statements include the accounts of Penns Woods Bancorp, Inc. (the “Company”) and its wholly-owned subsidiaries: Woods Investment Company, Inc., Woods Real Estate Development Company, Inc., United Insurance Solutions, LLC., Luzerne Bank, and Jersey Shore State Bank (Jersey Shore State Bank and Luzerne Bank are referred to together as the “Banks”) and Jersey Shore State Bank’s wholly-owned subsidiary, The M Group, Inc. D/B/A The Comprehensive Financial Group (“The M Group”). All significant inter-company balances and transactions have been eliminated in the consolidation. The interim financial statements are unaudited, but in the opinion of management reflect all adjustments necessary for the fair presentation of results for such periods. The results of operations for any interim period are not necessarily indicative of results for the full year. These financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
CECL Adoption and Updated Significant Accounting Policy	CECL Adoption and Updated Significant Accounting Policy On January 1, 2023, the Company adopted ASU 2016-13, Financial Instruments - Credit Losses (ASC Topic 326): Measurement of Credit Losses on Financial Instruments, which replaces the incurred loss methodology, and is referred to as CECL. The measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost, including loans and HTM debt securities. It also applies to off-balance sheet (“OBS”) credit exposures (loan commitments, standby letters of credit, financial guarantees, and other similar instruments. The Company adopted CECL using the modified retrospective method for all financial assets measured at amortized cost, net of investments in leases and OBS credit exposures. Results for reporting periods beginning after January 1, 2023 are presented under CECL, while prior period results are reported in accordance with the previously applicable incurred loss methodology. The Company recorded an overall decrease of $3,789,000 to the Allowance for Credit Losses (“ACL”) on January 1, 2023 as a result of the adoption of CECL with an associated increase to retained earnings of $2,993,000 and decrease to deferred tax assets of $796,000. The Company also recorded a liability of $1,703,000 for OBS credit exposures that resulted in a decrease to retained earnings of $1,346,000 and an increase to deferred tax assets of $357,000. Allowance for Credit Losses: The discussion that follows describes the methodology for determining the ACL under the CECL model that was adopted effective January 1, 2023. The allowance methodology for prior periods is disclosed in the Company’s 2022 Annual Report on Form 10-K. The Company has elected to exclude accrued interest receivable from the measurement of its ACL. When a loan is placed on non-accrual status, any outstanding accrued interest is reversed against interest income. Loans: The ACL for loans is an estimate of the expected losses to be realized over the life of the loans in the portfolio. The ACL is determined for two distinct categories of loans: 1) loans evaluated collectively for expected credit losses and 2) loans evaluated individually for expected credit losses. The ACL also includes certain qualitative adjustments to the CECL model. Loans Evaluated Collectively : Management believes that internal credit ratings are the most relevant credit quality indicator for these types of loans, however; the Company does not assign internal credit ratings to smaller balance, homogeneous loans, such as home equity, residential mortgage, and consumer automobile loans. For these loans, the most relevant credit quality indicator is delinquency status and management evaluates credit quality based on the aging status of the loan. In order to determine the ACL: • Loans aggregated into pools based on similar risk characteristics. • The probability of default "PD" and loss given default rate "LGD" CECL model components are determined based on loss estimates driven by historical experience at the input level. • The PD model component uses "through the economic cycle transition" matrices based on the Company's historical loan and transaction data across each pool of loans. • The LGD model component calculates a lifetime LGD estimate across each pool of loans utilizing a nonparametric loss curve modeling approach. • Reasonable and supportable forecasts are incorporated into the PD model component. • Cash flow assumptions are established for each loan using maturity date, amortization schedule and interest rate. • A constant prepayment rate is calculated for each loan pool in the CECL model. Loans Evaluated Individually : Loans evaluated individually for expected credit losses include loans determined to be collateral-dependant. Loans evaluated individually may have specific allocations assigned. For loans measured using the fair value of collateral, if the analysis determines that sufficient collateral value would be available for repayment of the debt, then no allocations would be assigned to those loans. Collateral could be in the form of real estate or business assets, such as accounts receivable or inventory, in the case of commercial and industrial loans. For loans secured by real estate, estimated fair values are determined through appraisals performed by third-party appraisers or third party evaluations for commercial real estate loans and our internal appraisal department for 1-4 family real estate secured loans, discounted to arrive at expected net sale proceeds. For collateral dependent loans, estimated real estate fair values are also net of estimated selling costs. When a real estate secured loan is impaired, a decision is made regarding whether an updated 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; the condition of the property; the Company’s experience and knowledge of the real estate market; the purpose of the loan; market factors; payment status; the strength of any guarantors; and the existence and age of other indications of value such as broker price opinions, among others. The Company generally obtains updated evaluations for collateral dependent loans secured predominantly by real estate every 12 months. When updated evaluations are not obtained for loans secured by real estate, fair values are estimated based on the original appraisal values, as long as the original appraisal indicated an acceptable loan-to-value position and there has not been a significant deterioration in the collateral value since the original appraisal was performed. Management regularly reviews loans in the portfolio to assess credit quality indicators and to determine appropriate loan classification. For commercial loans, commercial mortgages and construction loans to commercial borrowers, an internal credit rating process is used. The Company believes that internal credit ratings are the most relevant credit quality indicator for these types of loans. The migration of loans through the various internal credit rating categories is a significant component of the ACL methodology for these loans, which bases the PD on this migration. Assigning credit ratings involves judgment. Credit ratings may be changed based on ongoing monitoring procedures, or if specific loan review assessments identify a deterioration or an improvement in the loan. The following is a summary of the Company's internal credit rating categories: • Pass : These loans do not currently pose undue credit risk and can range from the highest to average quality, depending on the degree of potential risk. • Special Mention : These loans have a heightened credit risk, but not to the point of justifying a classification of Substandard. Loans in this category are currently acceptable, but are nevertheless potentially weak. • Substandard or Lower : There exists a well-defined weakness or weaknesses that jeopardize the normal repayment of the debt. The allocation of the ACL is reviewed to evaluate its appropriateness in relation to the overall risk profile of the loan portfolio. The Company considers risk factors such as: local and national economic conditions; trends in delinquencies and non-accrual loans; the diversity of borrower industry types; and the composition of the portfolio by loan type. Qualitative and Other Adjustments to ACL: In addition to the quantitative credit loss estimates for loans evaluated collectively, qualitative factors that may not be fully captured in the quantitative results are also evaluated. These include changes in lending policy, volume of the portfolio, economy conditions, credit concentrations, level of problem loans, loan review, collateral value, and experience of credit staff. Qualitative adjustments are judgmental and are based on Management’s knowledge of the portfolio and the markets in which the Company operates. Qualitative adjustments are evaluated and approved on a quarterly basis. OBS Credit Exposures: The ACL for OBS credit exposures is recorded in other liabilities on the consolidated balance sheet. This ACL represents management’s estimate of expected losses in its unfunded loan commitments and other OBS credit exposures, such as letters of credit and credit recourse on sold residential mortgage loans. The ACL specific to unfunded commitments is determined by estimating future draws and applying the expected loss rates on those draws. Future draws are based on historical averages of utilization rates (i.e., the likelihood of draws taken). The ACL for OBS credit exposures is increased or decreased by charges or reductions to expense, through the provision for credit losses. The impact from the adoption of CECL is shown below: January 1, 2023 (In Thousands) Pre-Adoption Adoption Impact As Reported Assets ACL on loans Commercial, financial, and agricultural $ 1,914 $ 2,656 $ 4,570 Real estate mortgage: Residential 5,061 (3,893) 1,168 Commercial 6,110 (2,660) 3,450 Construction 188 (96) 92 Consumer automobile loans 1,617 240 1,857 Other consumer installment loans 109 602 711 Unallocated 638 (638) — Liabilities ACL for unfunded commitments 143 1,703 1,846 $ 15,780 $ (2,086) $ 13,694 In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the impairment model for most financial assets. This standard, along with several other subsequent codification updates, replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses that are expected to occur over the remaining life of a financial asset and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments in this update require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The new current expected credit losses model (“CECL”) will apply to the allowance for loan losses, available-for-sale and held-to-maturity debt securities, purchased financial assets with credit deterioration and certain off-balance sheet credit exposures. Management has completed its implementation plan, segmentation and testing, and model validation. The implementation plan included drafting of additional controls and policies to govern data uploads to its third-party vendor, balancing and reconciling, testing and auditing of inputs, and review and decision-making surrounding segmentation, methodologies, qualitative factor adjustments, and reasonable and supportable forecasts and reversion techniques. Parallel runs were processed during 2022 and the results were consistent with management's expectations. The implementation plan is currently going through the Company's control structure and internal control testing is being performed. As a result of adopting this standard, the Company recorded a decrease in its allowance effective January 1, 2023, of $2,086,000. As a result, the Company recorded a decrease in its loan allowance as of January 1, 2023, of $3,789,000; as well as an increase in its allowance for off-balance sheet credit exposures of $1,703,000. These estimates are subject to further refinements based on ongoing evaluations of our model, methodologies, and judgments, as well as prevailing economic conditions and forecasts as of the adoption date. The adoption of ASU 2016-13 is not expected to have a significant impact on our regulatory capital ratios. At adoption, the Company did not have any securities classified as HTM debt securities. No allowance was recorded related to AFS debt securities at the date of adoption, January 1, 2023. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment . To simplify the subsequent measurement of goodwill, the FASB eliminated Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The Update is effective for smaller reporting companies and all other entities for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. This Update is not expected to have a significant impact on the Company’s financial statements. In January 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, March 2020 , to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls “reference rate reform” if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Also, entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform if certain criteria are met, and can make a one-time election to sell and/or reclassify held-to-maturity debt securities that reference an interest rate affected by reference rate reform. The amendments in this ASU are effective for all entities upon issuance through December 31, 2022. This Update did not have a significant impact on the Company’s financial statements. In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. This ASU removes from U.S. GAAP the separation models for (1) convertible debt with a cash conversion feature and (2) convertible instruments with a beneficial conversion feature. As a result, entities will not separately present in equity an embedded conversion feature in such debt. Instead, they will account for a convertible debt instrument wholly as debt, and for convertible preferred stock wholly as preferred stock (i.e., as a single unit of account), unless (1) a convertible instrument contains features that require bifurcation as a derivative under ASC 815 or (2) a convertible debt instrument was issued at a substantial premium. This ASU requires entities to provide expanded disclosures about the terms and features of convertible instruments, how the instruments have been reported in the entity’s financial statements, and information about events, conditions, and circumstances that can affect how to assess the amount or timing of an entity’s future cash flows related to those instruments. The amendments in this ASU are effective for public business entities that are not smaller reporting companies, for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. For all other entities, this ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The guidance may be early adopted for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. This Update is not expected to have a significant impact on the Company’s financial statements. In March 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (ASC 326): Troubled Debt Restructurings (TDRs) and Vintage Disclosures . The guidance amends ASC 326 to eliminate the accounting guidance for TDRs by creditors, while enhancing disclosure requirements for certain loan refinancing and restructuring activities by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying TDR recognition and measurement guidance, creditors will determine whether a modification results in a new loan or continuation of existing loan. These amendments are intended to enhance existing disclosure requirements and introduce new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. Additionally, the amendments to ASC 326 require that an entity disclose current-period gross writeoffs by year of origination within the vintage disclosures, which requires that an entity disclose the amortized cost basis of financing receivables by credit quality indicator and class of financing receivable by year of origination. The guidance is only for entities that have adopted the amendments in Update 2016-13 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. This Update did not have a significant impact on the Company’s financial statements. In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820) – Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. This amendment clarifies the guidance in Topic 820, Fair Value Measurement, when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security. It also introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. Early adoption is permitted. The amendments will be applied prospectively, with any adjustments from the adoption of the amendments recognized in earnings and disclosed on the date of adoption. This Update is not expected to have a significant impact on the Company’s financial statements. In March 2023, the FASB issued ASU 2023-02, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. ASU 2023-02 permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. ASU 2023-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. This Update is not expected to have a significant impact on the Company’s financial statements. In July 2023, the FASB issued ASU 2023-03, Presentation of Financial Statements (Topic 205), Income Statement-Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation-Stock Compensation (Topic 718), which amends or supersedes various SEC paragraphs within the Codification to conform to past SEC announcements and guidance issued by the SEC. The ASU does not provide any new guidance so there is no transition or effective date associated with it. This ASU did not have a significant impact on the Company’s financial statements.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Impact of CECL	The impact from the adoption of CECL is shown below: January 1, 2023 (In Thousands) Pre-Adoption Adoption Impact As Reported Assets ACL on loans Commercial, financial, and agricultural $ 1,914 $ 2,656 $ 4,570 Real estate mortgage: Residential 5,061 (3,893) 1,168 Commercial 6,110 (2,660) 3,450 Construction 188 (96) 92 Consumer automobile loans 1,617 240 1,857 Other consumer installment loans 109 602 711 Unallocated 638 (638) — Liabilities ACL for unfunded commitments 143 1,703 1,846 $ 15,780 $ (2,086) $ 13,694

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of changes in accumulated other comprehensive income by component	The changes in accumulated other comprehensive loss by component shown net of tax and parenthesis indicating debits, as of September 30, 2023 and 2022 were as follows: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 (In Thousands) Net Unrealized (Loss) Gain on Available Defined Total Net Unrealized (Loss) Gain on Available Defined Total Beginning balance $ (9,753) $ (4,080) $ (13,833) $ (6,222) $ (3,458) $ (9,680) Other comprehensive loss before reclassifications (1,169) — (1,169) (5,026) — (5,026) Amounts reclassified from accumulated other comprehensive gain 36 29 65 123 14 137 Net current-period other comprehensive (loss) income (1,133) 29 (1,104) (4,903) 14 (4,889) Ending balance $ (10,886) $ (4,051) $ (14,937) $ (11,125) $ (3,444) $ (14,569) Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 (In Thousands) Net Unrealized (Loss) Gain on Available Defined Total Net Unrealized Gain (Loss) on Available Defined Total Beginning balance $ (9,819) $ (4,139) $ (13,958) $ 2,373 $ (3,485) $ (1,112) Other comprehensive loss before reclassifications (1,166) — (1,166) (13,631) — (13,631) Amounts reclassified from accumulated other comprehensive gain 99 88 187 133 41 174 Net current-period other comprehensive (loss) income (1,067) 88 (979) (13,498) 41 (13,457) Ending balance $ (10,886) $ (4,051) $ (14,937) $ (11,125) $ (3,444) $ (14,569)
Schedule of reclassifications out of accumulated other comprehensive income	The reclassifications out of accumulated other comprehensive loss shown, net of tax and parenthesis indicating debits to net income, as of September 30, 2023 and 2022 were as follows: Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Net unrealized loss on available for sale securities $ (45) $ (156) Net debt securities losses, available for sale Income tax effect 9 33 Income tax provision Total reclassifications for the period $ (36) $ (123) Net unrecognized pension costs $ (37) $ (17) Other non-interest expense Income tax effect 8 3 Income tax provision Total reclassifications for the period $ (29) $ (14) Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item Nine months ended September 30, 2023 Nine months ended September 30, 2022 Net unrealized losses on available for sale securities $ (125) $ (168) Net debt securities losses, available for sale Income tax effect 26 35 Income tax provision Total reclassifications for the period $ (99) $ (133) Net unrecognized pension costs $ (111) $ (52) Other non-interest expense Income tax effect 23 11 Income tax provision Total reclassifications for the period $ (88) $ (41)

Per Share Data (Tables)

Per Share Data (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of weighted average common shares (denominator) used in the basic and dilutive earnings per share computation	There were a total of 917,000 stock options, with an average exercise price of $25.35 that were excluded, on a weighted average basis, in the computation of diluted earnings per share for the period due to the average market price of common shares of $23.78 being less than the strike price for the period ending September 30, 2022. Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Weighted average common shares issued 7,582,665 7,561,453 7,574,561 7,557,250 Weighted average treasury stock shares (510,225) (510,225) (510,225) (496,379) Weighted average common shares outstanding - basic 7,072,440 7,051,228 7,064,336 7,060,871 Dilutive effect of outstanding stock options 156,500 — 156,500 — Weighted average common shares outstanding - diluted 7,228,940 7,051,228 7,220,836 7,060,871

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized cost, gross unrealized gains and losses, and fair values of equity and trading investment securities	The amortized cost, gross unrealized gains and losses, and fair values of our investment securities portfolio at September 30, 2023 and December 31, 2022 are as follows: September 30, 2023 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): U.S. Government and agency securities $ 4,001 $ — $ (137) $ 3,864 Mortgage-backed securities 12,101 — (705) 11,396 State and political securities 129,024 — (9,177) 119,847 Other debt securities 53,321 — (3,761) 49,560 Total debt securities $ 198,447 $ — $ (13,780) $ 184,667 Investment equity securities: Equity securities $ 1,300 $ — $ (228) $ 1,072 December 31, 2022 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): U.S. Government and agency securities $ 3,002 $ — $ (106) $ 2,896 Mortgage-backed securities 1,496 — (214) 1,282 State and political securities 151,426 157 (8,774) 142,809 Other debt securities 50,178 58 (3,550) 46,686 Total debt securities $ 206,102 $ 215 $ (12,644) $ 193,673 Investment equity securities: Equity securities $ 1,350 $ — $ (208) $ 1,142
Schedule of gross unrealized losses and fair value	The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time, that the individual debt securities have been in a continuous unrealized loss position, at September 30, 2023 and December 31, 2022. September 30, 2023 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) Value Losses Value Losses Value Losses Available for sale (AFS): U.S. Government and agency securities $ 967 $ (33) $ 2,897 $ (104) $ 3,864 $ (137) Mortgage-backed securities 10,263 (454) 1,125 (251) 11,388 (705) State and political securities 19,050 (1,013) 97,522 (8,164) 116,572 (9,177) Other debt securities 10,596 (348) 35,841 (3,413) 46,437 (3,761) Total debt securities $ 40,876 $ (1,848) $ 137,385 $ (11,932) $ 178,261 $ (13,780) December 31, 2022 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) Value Losses Value Losses Value Losses Available for sale (AFS): U.S. Government and agency securities $ 2,896 $ (106) $ — $ — $ 2,896 $ (106) Mortgage-backed securities — — 1,282 (214) 1,282 (214) State and political securities 95,444 (4,797) 36,283 (3,977) 131,727 (8,774) Other debt securities 16,896 (664) 25,144 (2,886) 42,040 (3,550) Total debt securities $ 115,236 $ (5,567) $ 62,709 $ (7,077) $ 177,945 $ (12,644)
Schedule of amortized cost and fair value of debt securities by contractual maturity	The amortized cost and fair value of debt securities at September 30, 2023, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities since borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (In Thousands) Amortized Cost Fair Value Due in one year or less $ 39,163 $ 38,246 Due after one year to five years 88,544 82,446 Due after five years to ten years 65,437 59,047 Due after ten years 5,303 4,928 Total $ 198,447 $ 184,667
Schedule of gross realized gains and losses	The following table represents gross realized gains and losses from the sales of debt securities available for sale: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2023 2022 2023 2022 Available for sale (AFS): Gross realized gains: State and political securities $ 1 $ — $ 146 $ 14 Other debt securities — — — — Total gross realized gains $ 1 $ — $ 146 $ 14 Gross realized losses: State and political securities $ (46) $ (156) $ (271) $ (182)
Schedule of unrealized and realized gains and losses recognized in net income	The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2023 2022 2023 2022 Net losses recognized in equity securities during the period $ (37) $ (55) $ (36) $ (158) Less: Net losses realized on the sale of equity securities during the period (1) — (1) — Unrealized losses recognized in equity securities held at reporting date $ (36) $ (55) $ (35) $ (158)

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2023
Loans and Leases Receivable Disclosure [Abstract]
Schedule of related aging categories of loans by segment	The following table presents the related aging categories of loans, by class, as of September 30, 2023 and December 31, 2022: September 30, 2023 Past Due Past Due 90 30 To 89 Past Due 90 Days Or More (In Thousands) Days Days Or More Current & Still Accruing Total Commercial, financial, and agricultural $ 255 $ 33 $ 211,185 $ 8 $ 211,473 Real estate mortgage: Residential 5,013 1,151 767,618 1,434 773,782 Commercial 775 92 524,799 59 525,666 Construction 472 32 55,329 — 55,833 Consumer automobile loans 1,121 144 238,503 141 239,768 Other consumer installment loans 157 4 10,660 36 10,821 $ 7,793 $ 1,456 $ 1,808,094 $ 1,678 $ 1,817,343 Net deferred loan fees and discounts 1,118 Allowance for credit losses (12,890) Loans, net $ 1,805,571 December 31, 2022 Past Due Past Due 90 30 To 89 Days Or More Non- (In Thousands) Days & Still Accruing Accrual Current Total Commercial, financial, and agricultural $ 94 $ — $ 432 $ 189,935 $ 190,461 Real estate mortgage: Residential 5,472 1,120 524 701,093 708,209 Commercial 2,564 60 2,659 495,349 500,632 Construction 511 — — 42,797 43,308 Consumer automobile loans 2,089 80 — 183,943 186,112 Other consumer installment loans 152 15 — 10,194 10,361 $ 10,882 $ 1,275 $ 3,615 $ 1,623,311 1,639,083 Net deferred loan fees and discounts 648 Allowance for loan losses (15,637) Loans, net $ 1,624,094
Schedule of components of and activity in the allowance	The following table presents the components of the ACL as of September 30, 2023: September 30, (In Thousands) 2023 ACL - loans $ 12,890 ACL - off balance sheet credit exposure 1,240 Total ACL $ 14,130 Activity in the allowance is presented for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, 2023 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 3,019 $ 1,078 $ 4,191 $ 178 $ 2,446 $ 680 $ — $ 11,592 Charge-offs — — — — (130) (86) — (216) Recoveries 106 22 1 — 27 27 — 183 Provision 788 68 131 20 241 83 — 1,331 Ending Balance $ 3,913 $ 1,168 $ 4,323 $ 198 $ 2,584 $ 704 $ — $ 12,890 Three Months Ended September 30, 2022 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 2,108 $ 4,818 $ 5,395 $ 199 $ 1,307 $ 110 $ 456 $ 14,393 Charge-offs (18) — — — (57) (85) — (160) Recoveries 93 1 1 — 10 18 — 123 Provision (114) 376 140 11 325 75 42 855 Ending Balance $ 2,069 $ 5,195 $ 5,536 $ 210 $ 1,585 $ 118 $ 498 $ 15,211 t Nine Months Ended September 30, 2023 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,914 $ 5,061 $ 6,110 $ 188 $ 1,617 $ 109 $ 638 $ 15,637 Impact of adopting ASC 326 2,656 (3,893) (2,660) (96) 240 602 (638) (3,789) Charge-offs — (81) (62) — (507) (283) — (933) Recoveries 1,067 25 26 — 66 65 — 1,249 Provision (1,724) 56 909 106 1,168 211 — 726 Ending Balance $ 3,913 $ 1,168 $ 4,323 $ 198 $ 2,584 $ 704 $ — $ 12,890 Nine Months Ended September 30, 2022 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,946 $ 4,701 $ 5,336 $ 179 $ 1,411 $ 111 $ 492 $ 14,176 Charge-offs (18) (15) (155) — (234) (188) — (610) Recoveries 138 46 3 28 32 63 — 310 Provision 3 463 352 3 376 132 6 1,335 Ending Balance $ 2,069 $ 5,195 $ 5,536 $ 210 $ 1,585 $ 118 $ 498 $ 15,211
Schedule of non-accrual loans	Non-Accrual Loans September 30, 2023 December 31, 2022 Non-accrual Loans (In Thousands) With a Related ACL Without a Related ACL Total Total Non-accrual loans Commercial, financial, and agricultural $ — $ 543 $ 543 $ 432 Real estate mortgage: Residential 24 265 289 524 Commercial 947 226 1,173 2,659 Construction — — — — Consumer automobile — — — — Other consumer installment loans — — — — $ 971 $ 1,034 $ 2,005 $ 3,615
Schedule of recorded investment, unpaid principal balance, and related allowance of impaired loans by segment	The following table presents the recorded investment, unpaid principal balance, and related allowance of impaired loans by segment as of December 31, 2022: December 31, 2022 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 295 $ 295 $ — Real estate mortgage: Residential 3,388 3,388 — Commercial 2,588 2,588 — Construction — — — Consumer automobile loans — — — Installment loans to individuals — — — 6,271 6,271 — With an allowance recorded: Commercial, financial, and agricultural 403 403 4 Real estate mortgage: Residential 933 933 111 Commercial 3,607 3,607 827 Construction — — — Consumer automobile loans — — — Installment loans to individuals 19 — 19 4,962 4,943 961 Total: Commercial, financial, and agricultural 698 698 4 Real estate mortgage: Residential 4,321 4,321 111 Commercial 6,195 6,195 827 Construction — — — Consumer automobile loans — — — Installment loans to individuals 19 — 19 $ 11,233 $ 11,214 $ 961
Schedule of collateral dependent loans	The following table presents outstanding loan balances of collateral-dependent loans by class as of September 30, 2023: (In Thousands) Real estate Unsecured* Total Real estate mortgage: Residential $ 238 $ — $ 238 Commercial 92 332 424 Total $ 330 $ 332 $ 662
Schedule of average recorded investment in impaired loans and related interest income recognized	The following table presents the average recorded investment in impaired loans and related interest income recognized for the three and nine months ended September 30, 2022: Three Months Ended September 30, 2022 (In Thousands) Average Interest Income Interest Income Commercial, financial, and agricultural $ 711 $ 5 $ — Real estate mortgage: Residential 4,586 47 — Commercial 7,227 50 — Construction — — — Consumer automobile 7 — — Other consumer installment loans 10 — — $ 12,541 $ 102 $ — Nine Months Ended September 30, 2022 (In Thousands) Average Interest Income Interest Income Commercial, financial, and agricultural $ 782 $ 15 $ — Real estate mortgage: Residential 4,765 141 — Commercial 7,492 151 — Construction 42 1 — Consumer automobile 3 1 — Other consumer installment loans 15 — — $ 13,099 $ 309 $ —
Schedule of credit quality categories	The following table presents the credit quality categories identified above as of September 30, 2023 and December 31, 2022: September 30, 2023 (In Thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Loans Converted to Term Total Commercial, financial, and agricultural Pass $ 34,288 $ 53,560 $ 42,363 $ 33,239 $ 9,224 $ 6,756 $ 29,212 $ 114 $ 208,756 Special Mention — 201 42 — — 168 223 — 634 Substandard or Lower — — — 85 — 755 490 753 2,083 $ 34,288 $ 53,761 $ 42,405 $ 33,324 $ 9,224 $ 7,679 $ 29,925 $ 867 $ 211,473 Current period gross write offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real estate mortgage: Residential Pass $ 117,468 $ 218,678 $ 120,137 $ 70,364 $ 45,930 $ 17,038 $ 51,814 $ 129,802 $ 771,231 Special Mention — 409 274 — — — — — 683 Substandard or Lower — — — — — 1,798 — 70 1,868 $ 117,468 $ 219,087 $ 120,411 $ 70,364 $ 45,930 $ 18,836 $ 51,814 $ 129,872 $ 773,782 Current period gross write offs $ — $ — $ — $ — $ — $ 9 $ 72 $ — $ 81 Commercial Pass $ 43,594 $ 105,217 $ 134,960 $ 50,535 $ 25,913 $ 147,471 $ 10,827 $ 691 $ 519,208 Special Mention — — 1,065 — — 48 — — 1,113 Substandard or Lower — — — — 63 5,282 — — 5,345 $ 43,594 $ 105,217 $ 136,025 $ 50,535 $ 25,976 $ 152,801 $ 10,827 $ 691 $ 525,666 Current period gross write offs $ 59 $ — $ — $ — $ — $ 3 $ — $ — $ 62 Construction Pass $ 21,093 $ 13,072 $ 15,045 $ 1,417 $ 402 $ 4,452 $ 261 $ — $ 55,742 Special Mention — — — — — — — — — Substandard or Lower — — — — — 91 — — 91 $ 21,093 $ 13,072 $ 15,045 $ 1,417 $ 402 $ 4,543 $ 261 $ — $ 55,833 Current period gross write offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer Automobile Pass $ 101,214 $ 85,276 $ 21,969 $ 17,486 $ 8,716 $ 5,107 $ — $ — $ 239,768 Special Mention — — — — — — — — — Substandard or Lower — — — — — — — — — $ 101,214 $ 85,276 $ 21,969 $ 17,486 $ 8,716 $ 5,107 $ — $ — $ 239,768 Current period gross write offs $ — $ 247 $ 136 $ 112 $ 6 $ 7 $ — $ — $ 508 Installment loans to individuals Pass $ 2,609 $ 2,406 $ 1,291 $ 558 $ 427 $ 3,486 $ — $ 44 $ 10,821 Special Mention — — — — — — — — — Substandard or Lower — — — — — — — — — $ 2,609 $ 2,406 $ 1,291 $ 558 $ 427 $ 3,486 $ — $ 44 $ 10,821 Current period gross write offs $ 179 $ 28 $ 20 $ 6 $ 6 $ 19 $ 13 $ 11 $ 282 The information presented in the table above is not required for periods prior to the adoption of CECL. The following table presents the most comparable required information for the prior period, internal credit ratings for the report loan segments as of December 31, 2022: December 31, 2022 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 184,783 $ 705,515 $ 488,993 $ 43,209 $ 186,112 $ 10,361 $ 1,618,973 Special Mention 125 266 4,526 — — — 4,917 Substandard 5,553 2,428 7,113 99 — — 15,193 $ 190,461 $ 708,209 $ 500,632 $ 43,308 $ 186,112 $ 10,361 $ 1,639,083
Schedule of concentration of loan	The Company has a concentration of the following to gross loans at September 30, 2023 and 2022: September 30, 2023 2022 Owners of residential rental properties 18.99 % 19.95 % Owners of commercial rental properties 14.62 % 16.09 %
Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method	The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of December 31, 2022: December 31, 2022 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer Automobile Other consumer installment Unallocated (In Thousands) Residential Commercial Construction Totals Allowance for Loan Losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 4 $ 111 $ 827 $ — $ — $ 19 $ — $ 961 Collectively evaluated for impairment 1,910 4,950 5,283 188 1,617 90 638 14,676 Total ending allowance balance $ 1,914 $ 5,061 $ 6,110 $ 188 $ 1,617 $ 109 $ 638 $ 15,637 Loans: Individually evaluated for impairment $ 698 $ 4,321 $ 6,195 $ — $ — $ 19 $ 11,233 Collectively evaluated for impairment 189,763 703,888 494,437 43,308 186,112 10,342 1,627,850 Total ending loans balance $ 190,461 $ 708,209 $ 500,632 $ 43,308 $ 186,112 $ 10,361 $ 1,639,083

Net Periodic Benefit Cost-Def_2

Net Periodic Benefit Cost-Defined Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2023
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Schedule of components of the net periodic benefit/cost of the domestic non-contributory defined benefit plan	The following sets forth the components of the net periodic expense/(gain) of the domestic non-contributory defined benefit plan for the three and nine months ended September 30, 2023 and 2022, respectively: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2023 2022 2023 2022 Interest cost $ 198 $ 138 $ 594 $ 414 Expected return on plan assets (326) (412) (978) (1,237) Amortization of net loss 37 17 111 52 Net periodic benefit $ (91) $ (257) $ (273) $ (771)

Off-Balance Sheet Risk (Tables)

Off-Balance Sheet Risk (Tables)	9 Months Ended
	Sep. 30, 2023
Off Balance Sheet Risk
Schedule of Financial instruments whose contract amounts represent credit risk	Financial instruments whose contract amounts represent credit risk are as follows at September 30, 2023 and December 31, 2022: (In Thousands) September 30, 2023 December 31, 2022 Commitments to extend credit $ 161,270 $ 169,365 Standby letters of credit 9,467 9,915 Credit exposure from the sale of assets with recourse 7,274 7,358 $ 178,011 $ 186,638 Allowance for credit losses $ 1,240 $ 143

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of assets reported on the balance sheet at their fair value on a recurring basis	The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a recurring basis as of September 30, 2023 and December 31, 2022, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. September 30, 2023 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: U.S. Government and agency securities $ — $ 3,864 $ — $ 3,864 Mortgage-backed securities — 11,396 — 11,396 State and political securities — 119,847 — 119,847 Other debt securities — 49,560 — 49,560 Investment equity securities: Equity securities 1,072 — — 1,072 December 31, 2022 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: U.S. Government and agency securities $ — $ 2,896 $ — $ 2,896 Mortgage-backed securities — 1,282 — 1,282 State and political securities — 142,809 — 142,809 Other debt securities — 46,686 — 46,686 Investment equity securities: Equity securities 1,142 — — 1,142
Schedule of assets reported on the consolidated balance sheet at their fair value on a non-recurring basis	The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a non-recurring basis as of September 30, 2023 and December 31, 2022, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. September 30, 2023 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Collateral dependent loans $ — $ — $ 331 $ 331 Other real estate owned — — 853 853 December 31, 2022 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 1,923 $ 1,923 Other real estate owned — — 83 83
Schedule of listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques	The following tables present a listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques as of September 30, 2023 and December 31, 2022: September 30, 2023 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Collateral dependent loans $ 331 Appraisal of collateral (1) Appraisal adjustments (1) (15)% to (24)% (20)% Other real estate owned $ 853 Appraisal of collateral (1) Appraisal adjustments (1) (20)% (20)% (1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. December 31, 2022 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans $ 1,923 Appraisal of collateral (1) Appraisal adjustments (1) 0% to (34)% (14)% Other real estate owned $ 83 Appraisal of collateral (1) Appraisal adjustments (1) (20)% (20)% (1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of fair value of financial instruments	The fair values of the Company’s financial instruments not recorded at fair value on a recurring or nonrecurring basis are as follows at September 30, 2023 and December 31, 2022: Carrying Fair Fair Value Measurements at September 30, 2023 (In Thousands) Value Value Level I Level II Level III Financial assets: Loans held for sale (1) $ 4,083 $ 4,083 $ 4,083 $ — $ — Loans, net 1,805,571 1,761,944 — — 1,761,944 Financial liabilities: Time deposits & brokered deposits 356,244 350,456 — — 350,456 Short-term borrowings 193,746 193,746 193,746 — — Long-term borrowings 217,645 238,977 — — 238,977 (1) The financial instrument is carried at cost at, September 30, 2023 which approximate the fair value of the instruments Carrying Fair Fair Value Measurements at December 31, 2022 (In Thousands) Value Value Level I Level II Level III Financial assets: Loans held for sale (1) $ 3,298 $ 3,298 $ 3,298 $ — $ — Loans, net 1,624,094 1,594,073 — — 1,594,073 Financial liabilities: Time deposits & brokered deposits 146,282 137,559 — — 137,559 Short-term borrowings 153,349 153,349 153,349 — — Long-term borrowings 102,783 99,118 — — 99,118 (1) The financial instrument is carried at cost at, December 31, 2022 which approximate the fair value of the instruments

Stock Options (Tables)

Stock Options (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation, Stock Options Granted	Stock options outstanding as of September 30, 2023 are presented below: Stock Options Granted Date Shares Forfeited Cash Settlement Outstanding Strike Price Vesting Period Expiration January 20, 2023 59,500 — — 59,500 $ 27.77 3 years 10 years January 20, 2023 29,500 — — 29,500 27.77 5 years 10 years January 18, 2022 156,000 — — 156,000 24.10 3 years 10 years January 18, 2022 78,000 — — 78,000 24.10 5 years 10 years April 9, 2021 156,500 — — 156,500 24.23 3 years 10 years April 9, 2021 78,000 — — 78,000 24.23 5 years 10 years March 11, 2020 119,300 — — 119,300 25.34 3 years 10 years March 11, 2020 119,200 — — 119,200 25.34 5 years 10 years March 15, 2019 120,900 (19,800) — 101,100 28.01 3 years 10 years March 15, 2019 119,100 (19,200) — 99,900 28.01 5 years 10 years August 27, 2015 58,125 (26,250) (28,875) 3,000 28.02 5 years 10 years A summary of stock option activity for the nine months ended September 30, 2023 is presented below: September 30, 2023 Shares Weighted Average Exercise Price Outstanding, beginning of year 914,000 $ 25.34 Granted 89,000 27.77 Forfeited (3,000) 28.01 Expired — — Outstanding, end of period 1,000,000 $ 25.55 Exercisable, end of period 223,400 $ 26.58
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following is a summary of the assumptions used in this model for stock options granted for the nine months ended September 30, 2023: Nine months ended September 30, 2023 Risk-free interest rate 3.76 % Expected volatility 31 % Expected Annual dividend $ 1.28 Expected life 6.84 years Weighted average grant date fair value per option $ 6.11

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Assets
Allowance for credit losses	$ 12,890	$ 11,592	$ 15,637	$ 15,211	$ 14,393	$ 14,176
Stockholders' equity	174,540	174,402	167,665	164,489	166,054	172,274
Deferred tax asset	6,961		6,868
ACL - off balance sheet credit exposure	1,240		143
RETAINED EARNINGS
Assets
Stockholders' equity	$ 104,067	$ 104,104	98,147	$ 95,896	$ 92,903	$ 89,761
Adoption Impact
Assets
Allowance for credit losses			(3,789)
Stockholders' equity			1,647
ACL - off balance sheet credit exposure			1,703
Adoption Impact | Financing Receivable Credit Loss Impact
Assets
Deferred tax asset			(796)
Adoption Impact | Off Balance Sheet Credit Exposure Impact
Assets
Deferred tax asset			357
Adoption Impact | RETAINED EARNINGS
Assets
Stockholders' equity			1,647
Adoption Impact | RETAINED EARNINGS | Financing Receivable Credit Loss Impact
Assets
Stockholders' equity			2,993
Adoption Impact | RETAINED EARNINGS | Off Balance Sheet Credit Exposure Impact
Assets
Stockholders' equity			$ (1,346)

Basis of Presentation - Summary

Basis of Presentation - Summary of Impact of CECL (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Assets
Allowance for credit losses	$ 12,890	$ 11,592	$ 15,637	$ 15,211	$ 14,393	$ 14,176
Liabilities
ACL - off balance sheet credit exposure	1,240		143
Total ACL	14,130		15,780
Adoption Impact
Assets
Allowance for credit losses			(3,789)
Liabilities
ACL - off balance sheet credit exposure			1,703
Total ACL			(2,086)
As Reported
Liabilities
ACL - off balance sheet credit exposure			1,846
Total ACL			13,694
Commercial, financial, and agricultural
Assets
Allowance for credit losses	3,913	3,019	1,914	2,069	2,108	1,946
Commercial, financial, and agricultural | Adoption Impact
Assets
Allowance for credit losses			2,656
Commercial, financial, and agricultural | As Reported
Assets
Allowance for credit losses			4,570
Consumer automobile loans
Assets
Allowance for credit losses	2,584	2,446	1,617	1,585	1,307	1,411
Consumer automobile loans | Adoption Impact
Assets
Allowance for credit losses			240
Consumer automobile loans | As Reported
Assets
Allowance for credit losses			1,857
Other consumer installment loans
Assets
Allowance for credit losses	704	680	109	118	110	111
Other consumer installment loans | Adoption Impact
Assets
Allowance for credit losses			602
Other consumer installment loans | As Reported
Assets
Allowance for credit losses			711
Unallocated
Assets
Allowance for credit losses	0	0	638	498	456	492
Unallocated | Adoption Impact
Assets
Allowance for credit losses			(638)
Unallocated | As Reported
Assets
Allowance for credit losses			0
Residential | Real Estate Mortgages
Assets
Allowance for credit losses	1,168	1,078	5,061	5,195	4,818	4,701
Residential | Real Estate Mortgages | Adoption Impact
Assets
Allowance for credit losses			(3,893)
Residential | Real Estate Mortgages | As Reported
Assets
Allowance for credit losses			1,168
Commercial | Real Estate Mortgages
Assets
Allowance for credit losses	4,323	4,191	6,110	5,536	5,395	5,336
Commercial | Real Estate Mortgages | Adoption Impact
Assets
Allowance for credit losses			(2,660)
Commercial | Real Estate Mortgages | As Reported
Assets
Allowance for credit losses			3,450
Construction | Real Estate Mortgages
Assets
Allowance for credit losses	$ 198	$ 178	188	$ 210	$ 199	$ 179
Construction | Real Estate Mortgages | Adoption Impact
Assets
Allowance for credit losses			(96)
Construction | Real Estate Mortgages | As Reported
Assets
Allowance for credit losses			$ 92

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Schedule of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 174,402	$ 166,054	$ 167,665	$ 172,274
Other comprehensive loss before reclassifications	(1,169)	(5,026)	(1,166)	(13,631)
Amounts reclassified from accumulated other comprehensive gain	65	137	187	174
Net current-period other comprehensive (loss) income	(1,104)	(4,889)	(979)	(13,457)
Ending balance	174,540	164,489	174,540	164,489
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(13,833)	(9,680)	(13,958)	(1,112)
Ending balance	(14,937)	(14,569)	(14,937)	(14,569)
Net Unrealized (Loss) Gain on Available for Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(9,753)	(6,222)	(9,819)	2,373
Other comprehensive loss before reclassifications	(1,169)	(5,026)	(1,166)	(13,631)
Amounts reclassified from accumulated other comprehensive gain	36	123	99	133
Net current-period other comprehensive (loss) income	(1,133)	(4,903)	(1,067)	(13,498)
Ending balance	(10,886)	(11,125)	(10,886)	(11,125)
Defined Benefit  Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(4,080)	(3,458)	(4,139)	(3,485)
Other comprehensive loss before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive gain	29	14	88	41
Net current-period other comprehensive (loss) income	29	14	88	41
Ending balance	$ (4,051)	$ (3,444)	$ (4,051)	$ (3,444)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Schedule of Reclassifications out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reclassifications out of accumulated other comprehensive income
Net unrealized loss on available for sale securities	$ (45)	$ (156)	$ (125)	$ (168)
Net unrecognized pension costs	(1,378)	(1,165)	(4,275)	(3,723)
Income tax effect	(439)	(1,190)	(2,355)	(2,869)
Net Income	2,224	5,250	11,053	12,913
Amount Reclassified from Accumulated Other Comprehensive Loss | Net Unrealized (Loss) Gain on Available for Sale Securities
Reclassifications out of accumulated other comprehensive income
Net unrealized loss on available for sale securities	(45)	(156)	(125)	(168)
Income tax effect	9	33	26	35
Net Income	(36)	(123)	(99)	(133)
Amount Reclassified from Accumulated Other Comprehensive Loss | Defined Benefit  Plan
Reclassifications out of accumulated other comprehensive income
Net unrecognized pension costs	(37)	(17)	(111)	(52)
Income tax effect	8	3	23	11
Net Income	$ (29)	$ (14)	$ (88)	$ (41)

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Assets
Net impact of adoption	$ 14,130		$ 15,780
Allowance for credit losses	12,890	$ 11,592	15,637	$ 15,211	$ 14,393	$ 14,176
ACL - off balance sheet credit exposure	$ 1,240		143
Adoption Impact
Assets
Net impact of adoption			(2,086)
Allowance for credit losses			(3,789)
ACL - off balance sheet credit exposure			$ 1,703

Per Share Data - Narrative (Det

Per Share Data - Narrative (Details) - $ / shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Aug. 27, 2015
Earnings Per Share [Abstract]
Convertible securities which would affect denominator in calculating basic and dilutive earnings per share (in shares)	0
Options, outstanding (in shares)	1,000,000	917,000	914,000	3,000
Outstanding, weighted average exercise price (in dollars per share)	$ 25.55	$ 25.35	$ 25.34
Average share price (in dollars per share)	$ 25.08	$ 23.78

Per Share Data - Composition of

Per Share Data - Composition of Weighted Average Common Shares Used in Earnings per Share Computation (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Weighted average common shares issued (in shares)	7,582,665	7,561,453	7,574,561	7,557,250
Weighted average treasury stock shares (in shares)	(510,225)	(510,225)	(510,225)	(496,379)
Weighted average shares outstanding - basic (in shares)	7,072,440	7,051,228	7,064,336	7,060,871
Dilutive effect of outstanding stock options (in shares)	156,500	0	156,500	0
Weighted average shares outstanding - diluted (in shares)	7,228,940	7,051,228	7,220,836	7,060,871

Investment Securities - Amortiz

Investment Securities - Amortized Cost and Fair Values of Investment Securities Available for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Available for sale (AFS):
Amortized Cost	$ 198,447
Fair value	184,667	$ 193,673
Investment equity securities:
Fair value	1,072	1,142
Total debt securities
Available for sale (AFS):
Amortized Cost	198,447	206,102
Gross unrealized gains	0	215
Gross unrealized losses	(13,780)	(12,644)
Fair value	184,667	193,673
U.S. Government and agency securities
Available for sale (AFS):
Amortized Cost	4,001	3,002
Gross unrealized gains	0	0
Gross unrealized losses	(137)	(106)
Fair value	3,864	2,896
Mortgage-backed securities
Available for sale (AFS):
Amortized Cost	12,101	1,496
Gross unrealized gains	0	0
Gross unrealized losses	(705)	(214)
Fair value	11,396	1,282
State and political securities
Available for sale (AFS):
Amortized Cost	129,024	151,426
Gross unrealized gains	0	157
Gross unrealized losses	(9,177)	(8,774)
Fair value	119,847	142,809
Other debt securities
Available for sale (AFS):
Amortized Cost	53,321	50,178
Gross unrealized gains	0	58
Gross unrealized losses	(3,761)	(3,550)
Fair value	49,560	46,686
Equity securities
Investment equity securities:
Amortized Cost	1,300	1,350
Gross unrealized gains	0	0
Gross unrealized losses	(228)	(208)
Fair value	$ 1,072	$ 1,142

Investment Securities - Gross U

Investment Securities - Gross Unrealized Losses and Fair Value by Investment Category (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Total debt securities
Debt and Equity Securities, FV-NI [Line Items]
Fair value, less than twelve months	$ 40,876	$ 115,236
Gross unrealized losses, less than twelve months	(1,848)	(5,567)
Fair value, twelve months or greater	137,385	62,709
Gross unrealized losses, twelve months or greater	(11,932)	(7,077)
Fair value, total	178,261	177,945
Gross unrealized losses, total	(13,780)	(12,644)
U.S. Government and agency securities
Debt and Equity Securities, FV-NI [Line Items]
Fair value, less than twelve months	967	2,896
Gross unrealized losses, less than twelve months	(33)	(106)
Fair value, twelve months or greater	2,897	0
Gross unrealized losses, twelve months or greater	(104)	0
Fair value, total	3,864	2,896
Gross unrealized losses, total	(137)	(106)
Mortgage-backed securities
Debt and Equity Securities, FV-NI [Line Items]
Fair value, less than twelve months	10,263	0
Gross unrealized losses, less than twelve months	(454)	0
Fair value, twelve months or greater	1,125	1,282
Gross unrealized losses, twelve months or greater	(251)	(214)
Fair value, total	11,388	1,282
Gross unrealized losses, total	(705)	(214)
State and political securities
Debt and Equity Securities, FV-NI [Line Items]
Fair value, less than twelve months	19,050	95,444
Gross unrealized losses, less than twelve months	(1,013)	(4,797)
Fair value, twelve months or greater	97,522	36,283
Gross unrealized losses, twelve months or greater	(8,164)	(3,977)
Fair value, total	116,572	131,727
Gross unrealized losses, total	(9,177)	(8,774)
Other debt securities
Debt and Equity Securities, FV-NI [Line Items]
Fair value, less than twelve months	10,596	16,896
Gross unrealized losses, less than twelve months	(348)	(664)
Fair value, twelve months or greater	35,841	25,144
Gross unrealized losses, twelve months or greater	(3,413)	(2,886)
Fair value, total	46,437	42,040
Gross unrealized losses, total	$ (3,761)	$ (3,550)

Investment Securities - Narrati

Investment Securities - Narrative (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2023 USD ($) security	Sep. 30, 2023 USD ($) security	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Investments, Debt and Equity Securities [Abstract]
Number of individual securities that were in a continuous unrealized loss position for less than twelve months (in securities) | security	43	43
Number of individual securities that were in a continuous unrealized loss position for greater than twelve months (in securities) | security	184	184
Credit losses	$ 0
Gross proceeds from sales of securities		$ 24,701,000	$ 4,151,000
Carrying value of investment securities pledged	114,938,000	114,938,000		$ 154,946,000
Investment equity securities, at fair value	$ 1,072,000	$ 1,072,000		$ 1,142,000

Investment Securities - Amort_2

Investment Securities - Amortized Cost and Fair Value of Debt Securities (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Amortized Cost
Due in one year or less	$ 39,163
Due after one year to five years	88,544
Due after five years to ten years	65,437
Due after ten years	5,303
Amortized Cost	198,447
Fair Value
Due in one year or less	38,246
Due after one year to five years	82,446
Due after five years to ten years	59,047
Due after ten years	4,928
Total	$ 184,667

Investment Securities - Total G

Investment Securities - Total Gross Proceeds from Sales of Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Available for sale (AFS):
Available-for-sale securities, gross realized gains	$ 1	$ 0	$ 146	$ 14
State and political securities
Available for sale (AFS):
Available-for-sale securities, gross realized gains	1	0	146	14
Available-for-sale securities, gross realized losses	(46)	(156)	(271)	(182)
Other debt securities
Available for sale (AFS):
Available-for-sale securities, gross realized gains	$ 0	$ 0	$ 0	$ 0

Investment Securities - Unreali

Investment Securities - Unrealized and Realized Gains and Losses Recognized in Net Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Net losses recognized in equity securities during the period	$ (37)	$ (55)	$ (36)	$ (158)
Less: Net losses realized on the sale of equity securities during the period	(1)	0	(1)	0
Unrealized losses recognized in equity securities held at reporting date	$ (36)	$ (55)	$ (35)	$ (158)

Loans - Narrative (Details)

Loans - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) category	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) category	Sep. 30, 2022 USD ($) contract	Dec. 31, 2022 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans interest income			$ 104,000
Loan modifications	$ 0	$ 0	0	$ 0
Loan modifications, subsequent default			0
Number of TDRs that defaulted (in contracts) | contract				0
Financing receivable, excluding accrued interest, modified, accumulated	5,233,000		5,233,000		$ 7,468,000
Real estate acquired through foreclosure	588,000		588,000		950,000
Mortgage loans in process of foreclosure, amount	$ 328,000		$ 328,000		$ 890,000
Number of categories considered not criticized and rated as pass (in categories) | category	6		6
Minimum period after which loans are considered as substandard (in days)			90 days
Percentage of loan review evaluated			0.55
Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of categories in which real estate loans segmented (in categories) | category			3

Loans - Aging Categories of Loa

Loans - Aging Categories of Loans by Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Aging categories of loans by segment
Non-Accrual	$ 2,005		$ 3,615
Total ending loans balance	1,817,343		1,639,083
Past due 90 days or more & still accruing	1,678		1,275
Net deferred loan fees and discounts	1,118		648
Allowance for credit losses	(12,890)	$ (11,592)	(15,637)	$ (15,211)	$ (14,393)	$ (14,176)
Loans, net	1,805,571		1,624,094
Past Due 30 to 89 Days
Aging categories of loans by segment
Total ending loans balance	7,793		10,882
Past Due 90 Days or More
Aging categories of loans by segment
Total ending loans balance	1,456
Current
Aging categories of loans by segment
Total ending loans balance	1,808,094		1,623,311
Commercial, financial, and agricultural
Aging categories of loans by segment
Non-Accrual	543		432
Total ending loans balance	211,473		190,461
Past due 90 days or more & still accruing	8		0
Allowance for credit losses	(3,913)	(3,019)	(1,914)	(2,069)	(2,108)	(1,946)
Commercial, financial, and agricultural | Past Due 30 to 89 Days
Aging categories of loans by segment
Total ending loans balance	255		94
Commercial, financial, and agricultural | Past Due 90 Days or More
Aging categories of loans by segment
Total ending loans balance	33
Commercial, financial, and agricultural | Current
Aging categories of loans by segment
Total ending loans balance	211,185		189,935
Real Estate Mortgages | Residential
Aging categories of loans by segment
Non-Accrual	289		524
Total ending loans balance	773,782		708,209
Past due 90 days or more & still accruing	1,434		1,120
Allowance for credit losses	(1,168)	(1,078)	(5,061)	(5,195)	(4,818)	(4,701)
Real Estate Mortgages | Residential | Past Due 30 to 89 Days
Aging categories of loans by segment
Total ending loans balance	5,013		5,472
Real Estate Mortgages | Residential | Past Due 90 Days or More
Aging categories of loans by segment
Total ending loans balance	1,151
Real Estate Mortgages | Residential | Current
Aging categories of loans by segment
Total ending loans balance	767,618		701,093
Real Estate Mortgages | Commercial
Aging categories of loans by segment
Non-Accrual	1,173		2,659
Total ending loans balance	525,666		500,632
Past due 90 days or more & still accruing	59		60
Allowance for credit losses	(4,323)	(4,191)	(6,110)	(5,536)	(5,395)	(5,336)
Real Estate Mortgages | Commercial | Past Due 30 to 89 Days
Aging categories of loans by segment
Total ending loans balance	775		2,564
Real Estate Mortgages | Commercial | Past Due 90 Days or More
Aging categories of loans by segment
Total ending loans balance	92
Real Estate Mortgages | Commercial | Current
Aging categories of loans by segment
Total ending loans balance	524,799		495,349
Real Estate Mortgages | Construction
Aging categories of loans by segment
Non-Accrual	0		0
Total ending loans balance	55,833		43,308
Past due 90 days or more & still accruing	0		0
Allowance for credit losses	(198)	(178)	(188)	(210)	(199)	(179)
Real Estate Mortgages | Construction | Past Due 30 to 89 Days
Aging categories of loans by segment
Total ending loans balance	472		511
Real Estate Mortgages | Construction | Past Due 90 Days or More
Aging categories of loans by segment
Total ending loans balance	32
Real Estate Mortgages | Construction | Current
Aging categories of loans by segment
Total ending loans balance	55,329		42,797
Consumer automobile loans
Aging categories of loans by segment
Non-Accrual	0		0
Total ending loans balance	239,768		186,112
Past due 90 days or more & still accruing	141		80
Allowance for credit losses	(2,584)	(2,446)	(1,617)	(1,585)	(1,307)	(1,411)
Consumer automobile loans | Past Due 30 to 89 Days
Aging categories of loans by segment
Total ending loans balance	1,121		2,089
Consumer automobile loans | Past Due 90 Days or More
Aging categories of loans by segment
Total ending loans balance	144
Consumer automobile loans | Current
Aging categories of loans by segment
Total ending loans balance	238,503		183,943
Other consumer installment loans
Aging categories of loans by segment
Non-Accrual	0		0
Total ending loans balance	10,821		10,361
Past due 90 days or more & still accruing	36		15
Allowance for credit losses	(704)	$ (680)	(109)	$ (118)	$ (110)	$ (111)
Other consumer installment loans | Past Due 30 to 89 Days
Aging categories of loans by segment
Total ending loans balance	157		152
Other consumer installment loans | Past Due 90 Days or More
Aging categories of loans by segment
Total ending loans balance	4
Other consumer installment loans | Current
Aging categories of loans by segment
Total ending loans balance	$ 10,660		$ 10,194

Loans - Components of the Allow

Loans - Components of the Allowance (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
Allowance for credit losses	$ 12,890	$ 11,592	$ 15,637	$ 15,211	$ 14,393	$ 14,176
ACL - off balance sheet credit exposure	1,240		143
Total ACL	$ 14,130		$ 15,780

Loans - Non-accrual Loans (Deta

Loans - Non-accrual Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Nonaccrual [Line Items]
With a Related ACL	$ 971
Without a Related ACL	1,034
Non-accrual Loans, Total	2,005	$ 3,615
Commercial, financial, and agricultural
Financing Receivable, Nonaccrual [Line Items]
With a Related ACL	0
Without a Related ACL	543
Non-accrual Loans, Total	543	432
Real Estate Mortgages | Residential
Financing Receivable, Nonaccrual [Line Items]
With a Related ACL	24
Without a Related ACL	265
Non-accrual Loans, Total	289	524
Real Estate Mortgages | Commercial
Financing Receivable, Nonaccrual [Line Items]
With a Related ACL	947
Without a Related ACL	226
Non-accrual Loans, Total	1,173	2,659
Real Estate Mortgages | Construction
Financing Receivable, Nonaccrual [Line Items]
With a Related ACL	0
Without a Related ACL	0
Non-accrual Loans, Total	0	0
Consumer automobile loans
Financing Receivable, Nonaccrual [Line Items]
With a Related ACL	0
Without a Related ACL	0
Non-accrual Loans, Total	0	0
Other consumer installment loans
Financing Receivable, Nonaccrual [Line Items]
With a Related ACL	0
Without a Related ACL	0
Non-accrual Loans, Total	$ 0	$ 0

Loans - Recorded Investment, Un

Loans - Recorded Investment, Unpaid Principal Balance, Related Allowance of Impaired Loans (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	$ 6,271
Recorded investment, with an allowance recorded	4,962
Recorded investment	11,233
Unpaid principal balance, with no related allowance recorded	6,271
Unpaid principal balance, with an allowance recorded	4,943
Unpaid principal balance	11,214
Related allowance	961
Commercial, financial, and agricultural
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	295
Recorded investment, with an allowance recorded	403
Recorded investment	698
Unpaid principal balance, with no related allowance recorded	295
Unpaid principal balance, with an allowance recorded	403
Unpaid principal balance	698
Related allowance	4
Real Estate Mortgages | Residential
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	3,388
Recorded investment, with an allowance recorded	933
Recorded investment	4,321
Unpaid principal balance, with no related allowance recorded	3,388
Unpaid principal balance, with an allowance recorded	933
Unpaid principal balance	4,321
Related allowance	111
Real Estate Mortgages | Commercial
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	2,588
Recorded investment, with an allowance recorded	3,607
Recorded investment	6,195
Unpaid principal balance, with no related allowance recorded	2,588
Unpaid principal balance, with an allowance recorded	3,607
Unpaid principal balance	6,195
Related allowance	827
Real Estate Mortgages | Construction
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	0
Recorded investment, with an allowance recorded	0
Recorded investment	0
Unpaid principal balance, with no related allowance recorded	0
Unpaid principal balance, with an allowance recorded	0
Unpaid principal balance	0
Related allowance	0
Consumer automobile loans
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	0
Recorded investment, with an allowance recorded	0
Recorded investment	0
Unpaid principal balance, with no related allowance recorded	0
Unpaid principal balance, with an allowance recorded	0
Unpaid principal balance	0
Related allowance	0
Installment loans to individuals
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	0
Recorded investment, with an allowance recorded	19
Recorded investment	19
Unpaid principal balance, with no related allowance recorded	0
Unpaid principal balance, with an allowance recorded	0
Unpaid principal balance	0
Related allowance	$ 19

Loans - Schedule of Collateral

Loans - Schedule of Collateral Dependent Loans (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Assets
Collateral dependent loans	$ 662
Real Estate
Assets
Collateral dependent loans	330
Unsecured
Assets
Collateral dependent loans	332
Residential | Real Estate Mortgages
Assets
Collateral dependent loans	238
Residential | Real Estate | Real Estate Mortgages
Assets
Collateral dependent loans	238
Residential | Unsecured | Real Estate Mortgages
Assets
Collateral dependent loans	0
Commercial | Real Estate Mortgages
Assets
Collateral dependent loans	424
Commercial | Real Estate | Real Estate Mortgages
Assets
Collateral dependent loans	92
Commercial | Unsecured | Real Estate Mortgages
Assets
Collateral dependent loans	$ 332

Loans - Average Recorded Invest

Loans - Average Recorded Investment - Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	$ 12,541	$ 13,099
Interest Income Recognized on an Accrual Basis on Impaired Loans	102	309
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0
Commercial, financial, and agricultural
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	711	782
Interest Income Recognized on an Accrual Basis on Impaired Loans	5	15
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0
Real Estate Mortgages | Residential
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	4,586	4,765
Interest Income Recognized on an Accrual Basis on Impaired Loans	47	141
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0
Real Estate Mortgages | Commercial
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	7,227	7,492
Interest Income Recognized on an Accrual Basis on Impaired Loans	50	151
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0
Real Estate Mortgages | Construction
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	0	42
Interest Income Recognized on an Accrual Basis on Impaired Loans	0	1
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0
Consumer automobile loans
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	7	3
Interest Income Recognized on an Accrual Basis on Impaired Loans	0	1
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0
Other consumer installment loans
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	10	15
Interest Income Recognized on an Accrual Basis on Impaired Loans	0	0
Interest Income Recognized on a Cash Basis on Impaired Loans	$ 0	$ 0

Loans - Credit Quality Indicato

Loans - Credit Quality Indicators (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Credit quality categories
Total ending loans balance	$ 1,817,343		$ 1,817,343		$ 1,639,083
Current period gross write offs
Total	216	$ 160	933	$ 610
Pass
Credit quality categories
Total ending loans balance					1,618,973
Special Mention
Credit quality categories
Total ending loans balance					4,917
Substandard
Credit quality categories
Total ending loans balance					15,193
Commercial, financial, and agricultural
Credit quality categories
2023	34,288		34,288
2022	53,761		53,761
2021	42,405		42,405
2020	33,324		33,324
2019	9,224		9,224
Prior	7,679		7,679
Revolving Loans	29,925		29,925
Revolving Loans Converted to Term	867		867
Total ending loans balance	211,473		211,473		190,461
Current period gross write offs
2023			0
2022			0
2021			0
2020			0
2019			0
Prior			0
Revolving Loans			0
Revolving Loans Converted to Term			0
Total	0	18	0	18
Commercial, financial, and agricultural | Pass
Credit quality categories
2023	34,288		34,288
2022	53,560		53,560
2021	42,363		42,363
2020	33,239		33,239
2019	9,224		9,224
Prior	6,756		6,756
Revolving Loans	29,212		29,212
Revolving Loans Converted to Term	114		114
Total ending loans balance	208,756		208,756		184,783
Commercial, financial, and agricultural | Special Mention
Credit quality categories
2023	0		0
2022	201		201
2021	42		42
2020	0		0
2019	0		0
Prior	168		168
Revolving Loans	223		223
Revolving Loans Converted to Term	0		0
Total ending loans balance	634		634		125
Commercial, financial, and agricultural | Substandard
Credit quality categories
2023	0		0
2022	0		0
2021	0		0
2020	85		85
2019	0		0
Prior	755		755
Revolving Loans	490		490
Revolving Loans Converted to Term	753		753
Total ending loans balance	2,083		2,083		5,553
Real Estate Mortgages | Residential
Credit quality categories
2023	117,468		117,468
2022	219,087		219,087
2021	120,411		120,411
2020	70,364		70,364
2019	45,930		45,930
Prior	18,836		18,836
Revolving Loans	51,814		51,814
Revolving Loans Converted to Term	129,872		129,872
Total ending loans balance	773,782		773,782		708,209
Current period gross write offs
Total	0	0	81	15
Real Estate Mortgages | Residential | Pass
Credit quality categories
2023	117,468		117,468
2022	218,678		218,678
2021	120,137		120,137
2020	70,364		70,364
2019	45,930		45,930
Prior	17,038		17,038
Revolving Loans	51,814		51,814
Revolving Loans Converted to Term	129,802		129,802
Total ending loans balance	771,231		771,231		705,515
Real Estate Mortgages | Residential | Special Mention
Credit quality categories
2023	0		0
2022	409		409
2021	274		274
2020	0		0
2019	0		0
Prior	0		0
Revolving Loans	0		0
Revolving Loans Converted to Term	0		0
Total ending loans balance	683		683		266
Real Estate Mortgages | Residential | Substandard
Credit quality categories
2023	0		0
2022	0		0
2021	0		0
2020	0		0
2019	0		0
Prior	1,798		1,798
Revolving Loans	0		0
Revolving Loans Converted to Term	70		70
Total ending loans balance	1,868		1,868		2,428
Current period gross write offs
2023			0
2022			0
2021			0
2020			0
2019			0
Prior			9
Revolving Loans			72
Revolving Loans Converted to Term			0
Total			81
Real Estate Mortgages | Commercial
Credit quality categories
2023	43,594		43,594
2022	105,217		105,217
2021	136,025		136,025
2020	50,535		50,535
2019	25,976		25,976
Prior	152,801		152,801
Revolving Loans	10,827		10,827
Revolving Loans Converted to Term	691		691
Total ending loans balance	525,666		525,666		500,632
Current period gross write offs
Total	0	0	62	155
Real Estate Mortgages | Commercial | Pass
Credit quality categories
2023	43,594		43,594
2022	105,217		105,217
2021	134,960		134,960
2020	50,535		50,535
2019	25,913		25,913
Prior	147,471		147,471
Revolving Loans	10,827		10,827
Revolving Loans Converted to Term	691		691
Total ending loans balance	519,208		519,208		488,993
Real Estate Mortgages | Commercial | Special Mention
Credit quality categories
2023	0		0
2022	0		0
2021	1,065		1,065
2020	0		0
2019	0		0
Prior	48		48
Revolving Loans	0		0
Revolving Loans Converted to Term	0		0
Total ending loans balance	1,113		1,113		4,526
Real Estate Mortgages | Commercial | Substandard
Credit quality categories
2023	0		0
2022	0		0
2021	0		0
2020	0		0
2019	63		63
Prior	5,282		5,282
Revolving Loans	0		0
Revolving Loans Converted to Term	0		0
Total ending loans balance	5,345		5,345		7,113
Current period gross write offs
2023			59
2022			0
2021			0
2020			0
2019			0
Prior			3
Revolving Loans			0
Revolving Loans Converted to Term			0
Total			62
Real Estate Mortgages | Construction
Credit quality categories
2023	21,093		21,093
2022	13,072		13,072
2021	15,045		15,045
2020	1,417		1,417
2019	402		402
Prior	4,543		4,543
Revolving Loans	261		261
Revolving Loans Converted to Term	0		0
Total ending loans balance	55,833		55,833		43,308
Current period gross write offs
Total	0	0	0	0
Real Estate Mortgages | Construction | Pass
Credit quality categories
2023	21,093		21,093
2022	13,072		13,072
2021	15,045		15,045
2020	1,417		1,417
2019	402		402
Prior	4,452		4,452
Revolving Loans	261		261
Revolving Loans Converted to Term	0		0
Total ending loans balance	55,742		55,742		43,209
Real Estate Mortgages | Construction | Special Mention
Credit quality categories
2023	0		0
2022	0		0
2021	0		0
2020	0		0
2019	0		0
Prior	0		0
Revolving Loans	0		0
Revolving Loans Converted to Term	0		0
Total ending loans balance	0		0		0
Real Estate Mortgages | Construction | Substandard
Credit quality categories
2023	0		0
2022	0		0
2021	0		0
2020	0		0
2019	0		0
Prior	91		91
Revolving Loans	0		0
Revolving Loans Converted to Term	0		0
Total ending loans balance	91		91		99
Current period gross write offs
2023			0
2022			0
2021			0
2020			0
2019			0
Prior			0
Revolving Loans			0
Revolving Loans Converted to Term			0
Total			0
Consumer automobile loans
Credit quality categories
2023	101,214		101,214
2022	85,276		85,276
2021	21,969		21,969
2020	17,486		17,486
2019	8,716		8,716
Prior	5,107		5,107
Revolving Loans	0		0
Revolving Loans Converted to Term	0		0
Total ending loans balance	239,768		239,768		186,112
Current period gross write offs
Total	130	57	507	234
Consumer automobile loans | Pass
Credit quality categories
2023	101,214		101,214
2022	85,276		85,276
2021	21,969		21,969
2020	17,486		17,486
2019	8,716		8,716
Prior	5,107		5,107
Revolving Loans	0		0
Revolving Loans Converted to Term	0		0
Total ending loans balance	239,768		239,768		186,112
Consumer automobile loans | Special Mention
Credit quality categories
2023	0		0
2022	0		0
2021	0		0
2020	0		0
2019	0		0
Prior	0		0
Revolving Loans	0		0
Revolving Loans Converted to Term	0		0
Total ending loans balance	0		0		0
Consumer automobile loans | Substandard
Credit quality categories
2023	0		0
2022	0		0
2021	0		0
2020	0		0
2019	0		0
Prior	0		0
Revolving Loans	0		0
Revolving Loans Converted to Term	0		0
Total ending loans balance	0		0		0
Current period gross write offs
2023			0
2022			247
2021			136
2020			112
2019			6
Prior			7
Revolving Loans			0
Revolving Loans Converted to Term			0
Total			508
Other consumer installment loans
Credit quality categories
2023	2,609		2,609
2022	2,406		2,406
2021	1,291		1,291
2020	558		558
2019	427		427
Prior	3,486		3,486
Revolving Loans	0		0
Revolving Loans Converted to Term	44		44
Total ending loans balance	10,821		10,821		10,361
Current period gross write offs
Total	86	$ 85	283	$ 188
Other consumer installment loans | Pass
Credit quality categories
2023	2,609		2,609
2022	2,406		2,406
2021	1,291		1,291
2020	558		558
2019	427		427
Prior	3,486		3,486
Revolving Loans	0		0
Revolving Loans Converted to Term	44		44
Total ending loans balance	10,821		10,821		10,361
Current period gross write offs
2023			179
2022			28
2021			20
2020			6
2019			6
Prior			19
Revolving Loans			13
Revolving Loans Converted to Term			11
Total			282
Other consumer installment loans | Special Mention
Credit quality categories
2023	0		0
2022	0		0
2021	0		0
2020	0		0
2019	0		0
Prior	0		0
Revolving Loans	0		0
Revolving Loans Converted to Term	0		0
Total ending loans balance	0		0		0
Other consumer installment loans | Substandard
Credit quality categories
2023	0		0
2022	0		0
2021	0		0
2020	0		0
2019	0		0
Prior	0		0
Revolving Loans	0		0
Revolving Loans Converted to Term	0		0
Total ending loans balance	$ 0		$ 0		$ 0

Loans - Allowance for Credit Lo

Loans - Allowance for Credit Losses on Financing Receivables (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Allowance for Loan Losses:
Beginning Balance	$ 11,592	$ 14,393	$ 15,637	$ 14,176
Charge-offs	(216)	(160)	(933)	(610)
Recoveries	183	123	1,249	310
Provision for credit losses	1,331	855	726	1,335
Ending Balance	12,890	15,211	12,890	15,211
Adoption Impact
Allowance for Loan Losses:
Beginning Balance			(3,789)
Commercial, financial, and agricultural
Allowance for Loan Losses:
Beginning Balance	3,019	2,108	1,914	1,946
Charge-offs	0	(18)	0	(18)
Recoveries	106	93	1,067	138
Provision for credit losses	788	(114)	(1,724)	3
Ending Balance	3,913	2,069	3,913	2,069
Commercial, financial, and agricultural | Adoption Impact
Allowance for Loan Losses:
Beginning Balance			2,656
Real Estate Mortgages | Residential
Allowance for Loan Losses:
Beginning Balance	1,078	4,818	5,061	4,701
Charge-offs	0	0	(81)	(15)
Recoveries	22	1	25	46
Provision for credit losses	68	376	56	463
Ending Balance	1,168	5,195	1,168	5,195
Real Estate Mortgages | Residential | Adoption Impact
Allowance for Loan Losses:
Beginning Balance			(3,893)
Real Estate Mortgages | Commercial
Allowance for Loan Losses:
Beginning Balance	4,191	5,395	6,110	5,336
Charge-offs	0	0	(62)	(155)
Recoveries	1	1	26	3
Provision for credit losses	131	140	909	352
Ending Balance	4,323	5,536	4,323	5,536
Real Estate Mortgages | Commercial | Adoption Impact
Allowance for Loan Losses:
Beginning Balance			(2,660)
Real Estate Mortgages | Construction
Allowance for Loan Losses:
Beginning Balance	178	199	188	179
Charge-offs	0	0	0	0
Recoveries	0	0	0	28
Provision for credit losses	20	11	106	3
Ending Balance	198	210	198	210
Real Estate Mortgages | Construction | Adoption Impact
Allowance for Loan Losses:
Beginning Balance			(96)
Consumer automobile loans
Allowance for Loan Losses:
Beginning Balance	2,446	1,307	1,617	1,411
Charge-offs	(130)	(57)	(507)	(234)
Recoveries	27	10	66	32
Provision for credit losses	241	325	1,168	376
Ending Balance	2,584	1,585	2,584	1,585
Consumer automobile loans | Adoption Impact
Allowance for Loan Losses:
Beginning Balance			240
Other consumer installment loans
Allowance for Loan Losses:
Beginning Balance	680	110	109	111
Charge-offs	(86)	(85)	(283)	(188)
Recoveries	27	18	65	63
Provision for credit losses	83	75	211	132
Ending Balance	704	118	704	118
Other consumer installment loans | Adoption Impact
Allowance for Loan Losses:
Beginning Balance			602
Unallocated
Allowance for Loan Losses:
Beginning Balance	0	456	638	492
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for credit losses	0	42	0	6
Ending Balance	$ 0	$ 498	0	$ 498
Unallocated | Adoption Impact
Allowance for Loan Losses:
Beginning Balance			$ (638)

Loans - Schedule of Concentrati

Loans - Schedule of Concentration Risk (Details) - Owners of rental properties - Financing receivable	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Residential
Concentration Risk [Line Items]
Concentration of loans (as a percent)	18.99%	19.95%
Commercial
Concentration Risk [Line Items]
Concentration of loans (as a percent)	14.62%	16.09%

Loans - Allowance for Loan Loss

Loans - Allowance for Loan Losses (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Ending allowance balance attributable to loans:
Individually evaluated for impairment			$ 961
Collectively evaluated for impairment			14,676
Total ending allowance balance	$ 12,890	$ 11,592	15,637	$ 15,211	$ 14,393	$ 14,176
Loans:
Individually evaluated for impairment			11,233
Collectively evaluated for impairment			1,627,850
Total ending loans balance	1,817,343		1,639,083
Commercial, financial, and agricultural
Ending allowance balance attributable to loans:
Individually evaluated for impairment			4
Collectively evaluated for impairment			1,910
Total ending allowance balance	3,913	3,019	1,914	2,069	2,108	1,946
Loans:
Individually evaluated for impairment			698
Collectively evaluated for impairment			189,763
Total ending loans balance	211,473		190,461
Real Estate Mortgages | Residential
Ending allowance balance attributable to loans:
Individually evaluated for impairment			111
Collectively evaluated for impairment			4,950
Total ending allowance balance	1,168	1,078	5,061	5,195	4,818	4,701
Loans:
Individually evaluated for impairment			4,321
Collectively evaluated for impairment			703,888
Total ending loans balance	773,782		708,209
Real Estate Mortgages | Commercial
Ending allowance balance attributable to loans:
Individually evaluated for impairment			827
Collectively evaluated for impairment			5,283
Total ending allowance balance	4,323	4,191	6,110	5,536	5,395	5,336
Loans:
Individually evaluated for impairment			6,195
Collectively evaluated for impairment			494,437
Total ending loans balance	525,666		500,632
Real Estate Mortgages | Construction
Ending allowance balance attributable to loans:
Individually evaluated for impairment			0
Collectively evaluated for impairment			188
Total ending allowance balance	198	178	188	210	199	179
Loans:
Individually evaluated for impairment			0
Collectively evaluated for impairment			43,308
Total ending loans balance	55,833		43,308
Consumer automobile loans
Ending allowance balance attributable to loans:
Individually evaluated for impairment			0
Collectively evaluated for impairment			1,617
Total ending allowance balance	2,584	2,446	1,617	1,585	1,307	1,411
Loans:
Individually evaluated for impairment			0
Collectively evaluated for impairment			186,112
Total ending loans balance	239,768		186,112
Other consumer installment loans
Ending allowance balance attributable to loans:
Individually evaluated for impairment			19
Collectively evaluated for impairment			90
Total ending allowance balance	704	680	109	118	110	111
Loans:
Individually evaluated for impairment			19
Collectively evaluated for impairment			10,342
Total ending loans balance	10,821		10,361
Unallocated
Ending allowance balance attributable to loans:
Individually evaluated for impairment			0
Collectively evaluated for impairment			638
Total ending allowance balance	$ 0	$ 0	$ 638	$ 498	$ 456	$ 492

Net Periodic Benefit Cost-Def_3

Net Periodic Benefit Cost-Defined Benefit Plans (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net periodic benefit cost of the domestic non-contributory defined benefit plan
Interest cost	$ 198,000	$ 138,000	$ 594,000	$ 414,000
Expected return on plan assets	(326,000)	(412,000)	(978,000)	(1,237,000)
Amortization of net loss	37,000	17,000	111,000	52,000
Net periodic benefit	$ (91,000)	$ (257,000)	(273,000)	$ (771,000)
Employer contributions made to the defined benefit plan			$ 0

Stock Purchase Plans (Details)

Stock Purchase Plans (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Aug. 27, 2015
Stock Purchase Plans
Common shares issued for employee stock purchase plan	$ 34,000	$ 23,000	$ 73,000	$ 67,000
Options, outstanding (in shares)	1,000,000	917,000	1,000,000	917,000	914,000	3,000
Director compensation plan, expense	$ 63,000	$ 72,000	$ 193,000	$ 240,000
Non-Employee Director Compensation Plan
Stock Purchase Plans
Number of shares allowed to be purchased (in shares)	100,000		100,000
Maximum percentage of base compensation			100%
Current percentage of base compensation			50%
Options, outstanding (in shares)	42,191		42,191
Director compensation plan (in shares)			7,560	9,968
Director compensation plan, expense			$ 193,000	$ 240,000
Employee Stock
Stock Purchase Plans
Number of shares allowed to be purchased (in shares)	1,500,000		1,500,000
Purchase price of the shares with respect to market value (as a percent)			95%
Maximum percentage of base compensation			15%
Maximum market value			$ 12,000
Number of shares issued under the plan (in shares)			3,120	2,960

Off-Balance Sheet Risk (Details

Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Off Balance Sheet Risk
Contract amounts representing credit risk	$ 178,011	$ 186,638
Allowance for credit losses	1,240	143
Commitments to extend credit
Off Balance Sheet Risk
Contract amounts representing credit risk	161,270	169,365
Standby letters of credit
Off Balance Sheet Risk
Contract amounts representing credit risk	$ 9,467	9,915
Coverage period for instrument (in years)	1 year
Credit exposure from the sale of assets with recourse
Off Balance Sheet Risk
Contract amounts representing credit risk	$ 7,274	$ 7,358

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Assets (Details) - Recurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
U.S. Government and agency securities
Fair Value Measurements [Abstract]
Total assets, fair value	$ 3,864	$ 2,896
Mortgage-backed securities
Fair Value Measurements [Abstract]
Total assets, fair value	11,396	1,282
State and political securities
Fair Value Measurements [Abstract]
Total assets, fair value	119,847	142,809
Other debt securities
Fair Value Measurements [Abstract]
Total assets, fair value	49,560	46,686
Equity securities
Fair Value Measurements [Abstract]
Total assets, fair value	1,072	1,142
Level I | U.S. Government and agency securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level I | Mortgage-backed securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level I | State and political securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level I | Other debt securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level I | Equity securities
Fair Value Measurements [Abstract]
Total assets, fair value	1,072	1,142
Level II | U.S. Government and agency securities
Fair Value Measurements [Abstract]
Total assets, fair value	3,864	2,896
Level II | Mortgage-backed securities
Fair Value Measurements [Abstract]
Total assets, fair value	11,396	1,282
Level II | State and political securities
Fair Value Measurements [Abstract]
Total assets, fair value	119,847	142,809
Level II | Other debt securities
Fair Value Measurements [Abstract]
Total assets, fair value	49,560	46,686
Level II | Equity securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level III | U.S. Government and agency securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level III | Mortgage-backed securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level III | State and political securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level III | Other debt securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level III | Equity securities
Fair Value Measurements [Abstract]
Total assets, fair value	$ 0	$ 0

Fair Value Measurements - Non-R

Fair Value Measurements - Non-Recurring Assets (Details) - Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Collateral dependent loans
Fair Value Measurements [Abstract]
Total assets, fair value	$ 331
Collateral dependent loans | Level I
Fair Value Measurements [Abstract]
Total assets, fair value	0
Collateral dependent loans | Level II
Fair Value Measurements [Abstract]
Total assets, fair value	0
Collateral dependent loans | Level III
Fair Value Measurements [Abstract]
Total assets, fair value	331
Other real estate owned
Fair Value Measurements [Abstract]
Total assets, fair value	853	$ 83
Other real estate owned | Level I
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Other real estate owned | Level II
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Other real estate owned | Level III
Fair Value Measurements [Abstract]
Total assets, fair value	$ 853	83
Impaired loans
Fair Value Measurements [Abstract]
Total assets, fair value		1,923
Impaired loans | Level I
Fair Value Measurements [Abstract]
Total assets, fair value		0
Impaired loans | Level II
Fair Value Measurements [Abstract]
Total assets, fair value		0
Impaired loans | Level III
Fair Value Measurements [Abstract]
Total assets, fair value		$ 1,923

Fair Value Measurements - Signi

Fair Value Measurements - Significant Unobservable Inputs (Details) - Nonrecurring - Level III - Appraisal of collateral $ in Thousands	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Impaired loans, fair value		$ 1,923
Collateral dependent loans, fair value	$ 331
Other real estate owned, fair value	$ 853	$ 83
Measurement input, appraised value
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Other real estate owned, measurement input percentage	(0.20)	(0.20)
Measurement input, appraised value | Minimum
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Impaired loans, measurement input percentage		0
Collateral dependent loans, measurement input	(0.15)
Measurement input, appraised value | Maximum
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Impaired loans, measurement input percentage		(0.34)
Collateral dependent loans, measurement input	(0.24)
Measurement input, appraised value | Weighted Average
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Impaired loans, measurement input percentage		(0.14)
Collateral dependent loans, measurement input	(0.20)
Other real estate owned, measurement input percentage	(0.20)	(0.20)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Level I
Financial assets:
Loans held for sale	$ 4,083	$ 3,298
Loans, net	0	0
Financial liabilities:
Time deposits & brokered deposits	0	0
Short-term borrowings	193,746	153,349
Long-term borrowings	0	0
Level II
Financial assets:
Loans held for sale	0	0
Loans, net	0	0
Financial liabilities:
Time deposits & brokered deposits	0	0
Short-term borrowings	0	0
Long-term borrowings	0	0
Level III
Financial assets:
Loans held for sale	0	0
Loans, net	1,761,944	1,594,073
Financial liabilities:
Time deposits & brokered deposits	350,456	137,559
Short-term borrowings	0	0
Long-term borrowings	238,977	99,118
Carrying Value
Financial assets:
Loans held for sale	4,083	3,298
Loans, net	1,805,571	1,624,094
Financial liabilities:
Time deposits & brokered deposits	356,244	146,282
Short-term borrowings	193,746	153,349
Long-term borrowings	217,645	102,783
Fair Value
Financial assets:
Loans held for sale	4,083	3,298
Loans, net	1,761,944	1,594,073
Financial liabilities:
Time deposits & brokered deposits	350,456	137,559
Short-term borrowings	193,746	153,349
Long-term borrowings	$ 238,977	$ 99,118

Stock Options - Narrative (Deta

Stock Options - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands							3 Months Ended		9 Months Ended
	Jan. 20, 2023	Jan. 18, 2022	Apr. 09, 2021	Mar. 11, 2020	Mar. 15, 2019	Aug. 27, 2015	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jan. 01, 2023	Dec. 31, 2022
Employee Stock Purchase Plan
Options, outstanding (in shares)						3,000	1,000,000	917,000	1,000,000	917,000		914,000
Granted (in shares)						58,125			89,000
Granted (in dollars per share)						$ 28.02			$ 27.77
Exercisable period (in years)						5 years
Tranche One
Employee Stock Purchase Plan
Options, outstanding (in shares)	59,500	156,000	156,500	119,300	101,100
Granted (in shares)	59,500	156,000	156,500	119,300	120,900				59,500
Granted (in dollars per share)	$ 27.77	$ 24.10	$ 24.23	$ 25.34	$ 28.01
Exercisable period (in years)	3 years	3 years	3 years	3 years	3 years
Tranche Two
Employee Stock Purchase Plan
Options, outstanding (in shares)	29,500	78,000	78,000	119,200	99,900
Granted (in shares)	29,500	78,000	78,000	119,200	119,100				29,500
Granted (in dollars per share)	$ 27.77	$ 24.10	$ 24.23	$ 25.34	$ 28.01
Exercisable period (in years)	5 years	5 years	5 years	5 years	5 years
Employee Stock Option
Employee Stock Purchase Plan
Options, outstanding (in shares)											914,000
Exercisable period (in years)									10 years
Compensation expense							$ 229	$ 236	$ 715	$ 1,004
Number of exercisable options (in shares)							223,400		223,400
Weighted average remaining contractual term (in years)									5 years 11 months 8 days
Unrecognized compensation cost for non-vested shares							$ 1,437		$ 1,437
Period for recognition (in years)									1 year 29 days
Employee Stock Option | Tranche One
Employee Stock Purchase Plan
Exercisable period (in years)									3 years
Employee Stock Option | Tranche Two
Employee Stock Purchase Plan
Exercisable period (in years)									5 years

Stock Options - Schedule of Sto

Stock Options - Schedule of Stock Options Granted (Details) - $ / shares							9 Months Ended
	Jan. 20, 2023	Jan. 18, 2022	Apr. 09, 2021	Mar. 11, 2020	Mar. 15, 2019	Aug. 27, 2015	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Employee Stock Purchase Plan
Shares (in shares)						58,125	89,000
Forfeited (in shares)						(26,250)	(3,000)
Exercised (in shares)						(28,875)
Outstanding (in shares)						3,000	1,000,000	914,000	917,000
Strike price (in dollars per share)						$ 28.02	$ 27.77
Vesting period (in years)						5 years
Expiration (in years)						10 years
Tranche One
Employee Stock Purchase Plan
Shares (in shares)	59,500	156,000	156,500	119,300	120,900		59,500
Forfeited (in shares)	0	0	0	0	(19,800)
Exercised (in shares)	0	0	0	0	0
Outstanding (in shares)	59,500	156,000	156,500	119,300	101,100
Strike price (in dollars per share)	$ 27.77	$ 24.10	$ 24.23	$ 25.34	$ 28.01
Vesting period (in years)	3 years	3 years	3 years	3 years	3 years
Expiration (in years)	10 years	10 years	10 years	10 years	10 years
Tranche Two
Employee Stock Purchase Plan
Shares (in shares)	29,500	78,000	78,000	119,200	119,100		29,500
Forfeited (in shares)	0	0	0	0	(19,200)
Exercised (in shares)	0	0	0	0	0
Outstanding (in shares)	29,500	78,000	78,000	119,200	99,900
Strike price (in dollars per share)	$ 27.77	$ 24.10	$ 24.23	$ 25.34	$ 28.01
Vesting period (in years)	5 years	5 years	5 years	5 years	5 years
Expiration (in years)	10 years	10 years	10 years	10 years	10 years

Stock Options - Schedule of Opt

Stock Options - Schedule of Options Outstanding (Details) - $ / shares		9 Months Ended
	Aug. 27, 2015	Sep. 30, 2023
Shares
Outstanding, beginning of year (in shares)		914,000
Granted (in shares)	58,125	89,000
Forfeited (in shares)	(26,250)	(3,000)
Expired (in shares)		0
Outstanding, end of period (in shares)	3,000	1,000,000
Exercisable, end of period (in shares)		223,400
Weighted Average Exercise Price
Outstanding, weighted average exercise price (in dollars per share)		$ 25.34
Granted (in dollars per share)	$ 28.02	27.77
Forfeited (in dollars per share)		28.01
Expired (in dollars per share)		0
Outstanding, weighted average exercise price (in dollars per share)		25.55
Exercisable, end of period (in dollars per share)		$ 26.58

Stock Options - Fair Value Assu

Stock Options - Fair Value Assumptions (Details)	9 Months Ended
	Sep. 30, 2023 $ / shares
Share-Based Payment Arrangement [Abstract]
Risk-free interest rate	3.76%
Expected volatility	31%
Expected Annual dividend (in dollars per share)	$ 1.28
Expected life	6 years 10 months 2 days
Weighted average grant date fair value per option (in dollars per share)	$ 6.11

Reclassification of Comparati_2

Reclassification of Comparative Amounts (Details)	9 Months Ended
	Sep. 30, 2023 USD ($)
Reclassification of Comparative Amounts
Effect of reclassification adjustment on net income or shareholders' equity	$ 0