F & M Bank (FMBM) 10-Q 15 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	Apr. 30, 2023
Cover [Abstract]
Entity Registrant Name	F&M BANK CORP.
Entity Central Index Key	0000740806
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		3,476,500
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-13273
Entity Incorporation State Country Code	VA
Entity Tax Identification Number	54-1280811
Entity Interactive Data Current	Yes
Entity Address Address Line 1	P. O. Box 1111
Entity Address City Or Town	Timberville
Entity Address State Or Province	VA
Entity Address Postal Zip Code	22853
City Area Code	540
Local Phone Number	896-8941
Security 12b Title	Common Stock, par value ‑ $5 per share

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 17,568	$ 17,926
Money market funds and interest-bearing deposits in other banks	982	687
Federal funds sold	12,723	16,340
Cash and cash equivalents	31,273	34,953
Securities:
Held to maturity, at amortized cost - fair value of $114 and $112 in 2023 and 2022, respectively	125	125
Less: allowance for credit losses	0	0
Held to maturity, net	125	125
Available for sale, at fair value	388,248	392,095
Other investments	10,587	11,317
Loans held for sale, at fair value	1,242	1,373
Loans held for investment, net of deferred fees and costs	756,920	743,604
Less: allowance for credit losses	(8,546)	(7,936)
Net loans held for investment	748,374	735,668
Bank premises and equipment, net	19,971	19,587
Interest receivable	4,165	3,995
Goodwill	3,082	3,082
Bank owned life insurance	23,727	23,554
Other assets	22,081	20,153
Total Assets	1,252,875	1,245,902
Deposits:
Noninterest bearing	284,060	293,596
Interest bearing	821,175	789,781
Total deposits	1,105,235	1,083,377
Short-term debt	55,000	70,000
Long-term debt	6,901	6,890
Other liabilities	13,104	14,843
Total liabilities	1,180,240	1,175,110
Stockholders' Equity
Common stock, $5 par value, 6,000,000 shares authorized, 200,000 designated, 3,482,745 and 3,456,237 shares issued and outstanding (41,192 and 26,456 unvested restricted shares)	17,207	17,149
Additional paid in capital	10,693	10,577
Retained earnings	82,031	83,078
Accumulated other comprehensive loss	(37,296)	(40,012)
Total stockholders' equity	72,635	70,792
Total liabilities and stockholders' equity	$ 1,252,875	$ 1,245,902

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Consolidated Balance Sheets
Held to maturity - fair value	$ 114	$ 112
Stockholders' Equity
Common stock, shares par value	$ 5	$ 5
Common stock, shares designated	200,000	200,000
Common stock, shares authorized	6,000,000	6,000,000
Common stock, shares issued	3,482,745	3,456,237
Common stock, shares outstanding	3,482,745	3,456,237
Common stock, unvested restricted shares	41,192	26,456

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest and Dividend income
Interest and fees on loans held for investment	$ 10,854	$ 7,510
Interest and fees on loans held for sale	22	29
Interest from money market funds and federal funds sold	84	25
Interest on debt securities	2,014	1,497
Total interest and dividend income	12,974	9,061
Interest expense
Total interest on deposits	4,042	845
Interest from short-term debt	992	0
Interest from long-term debt	112	159
Total interest expense	5,146	1,004
Net interest income	7,828	8,057
Provision for (Recovery of) Credit Losses	0	(450)
Net Interest Income After Provision for (Recovery of) Credit Losses	7,828	8,507
Noninterest income
Service charges on deposit accounts	225	307
Investment services and insurance income	333	251
Mortgage banking income	234	742
Title insurance income	248	473
Income on bank owned life insurance	179	171
Low income housing partnership losses	(205)	(204)
ATM and check card fees	627	563
Other operating income	243	180
Total noninterest income	1,884	2,483
Noninterest expense
Salaries	3,861	3,637
Employee benefits	1,043	1,288
Occupancy expense	335	340
Equipment expense	295	286
FDIC insurance assessment	145	116
Advertising expense	218	178
Legal and professional fees	225	208
ATM and check card fees	319	298
Telecommunication and data processing expense	707	901
Directors fees	157	164
Bank franchise tax	168	174
Other operating expenses	1,235	960
Total noninterest expense	8,708	8,550
Income before income taxes	1,004	2,440
Income tax benefit	(51)	(88)
Net Income	$ 1,055	$ 2,528
Per Common Share Data
Net income	$ 0.30	$ 0.74
Cash dividends on common stock	$ 0.26	$ 0.26
Weighted average common shares outstanding	3,462,698	3,434,892

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Consolidated Statements of Comprehensive Income (Loss)
Net Income	$ 1,055	$ 2,528
Other comprehensive income (loss):
Unrealized holding gains (losses) on available-for sale securities	3,438	18,049
Tax effect	(722)	3,790
Unrealized holding gains (losses), net of tax	2,716	(14,259)
Total other comprehensive income (loss)	2,716	(14,259)
Total comprehensive income (loss)	$ 3,771	$ (11,731)

Condensed Consolidated Statemen

Condensed Consolidated Statements of Changes in Stockholders Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Balance, amount at Dec. 31, 2021	$ 100,456	$ 17,071	$ 10,127	$ 78,350	$ (5,092)
Net income	2,528	0	0	2,528	0
Other comprehensive (loss)	(14,259)	0	0	0	(14,259)
Dividends on common stock ($0.26 per share)	(892)	0	0	(892)	0
Common stock issued	80	13	67	0	0
Vesting of time based stock awards issued at date of grant	55	26	29	0	0
Stock-based compensation expense	17	0	17	0	0
Balance, amount at Mar. 31, 2022	87,985	17,110	10,240	79,986	(19,351)
Balance, amount at Dec. 31, 2022	70,792	17,149	10,577	83,078	(40,012)
Net income	1,055
Balance, amount at Mar. 31, 2023	72,635
Balance, amount at Dec. 31, 2022	70,792	17,149	10,577	83,078	(40,012)
Net income	1,055	0	0	1,055	0
Other comprehensive (loss)	2,716	0	0	0	2,716
Dividends on common stock ($0.26 per share)	(899)	0	0	(899)	0
Common stock issued	81	18	63	0	0
Stock-based compensation expense	64	0	64	0	0
Cumulative effect adjustment due to the adoption of ASC 326, net of tax	(1,203)	0	0	(1,203)	0
Vesting of time based stock awards issued at date of grant, net of shares withheld for payroll taxes	29	40	(11)	0	0
Balance, amount at Dec. 31, 2023	$ 72,635	$ 17,207	$ 10,693	$ 82,031	$ (37,296)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net income	$ 1,055	$ 2,528
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	276	283
Amortization of intangibles	8	9
Amortization of securities	3,461	6,174
Proceeds from loans held for sale	31,451	39,724
Loans held for sale originated	(30,748)	(36,881)
Gain on sale of loans held for sale	(572)	(435)
Recovery of credit losses	0	(450)
Increase in interest receivable	(170)	(228)
Decrease (increase) in deferred taxes	9	(189)
Decrease in taxes payable	(38)	0
Decrease in other assets	(2,302)	(12)
Decrease in accrued expenses	(2,486)	(318)
Amortization of limited partnership investments	205	204
Amortization of debt issuance costs	11	0
Income from life insurance investment	(179)	(171)
(Gain) on the sale of fixed assets	(9)	0
Stock-based compensation expense	64	17
Net cash provided by operating activities	36	10,255
Cash flows from investing activities
Purchase of investments available for sale and other investments	0	(85,163)
Proceeds from maturity of investments available for sale	3,825	3,000
Proceeds from (investment in) the redemption of restricted stock, net	624	(136)
Investment in limited partnership	(100)	0
Net (increase) decrease in loans held for investment	(13,483)	2,952
Proceeds from the sale of fixed assets	33	0
Net purchase of property and equipment	(684)	(1,904)
Net cash (used in) investing activities	(9,785)	(81,251)
Cash flows from financing activities
Net change in deposits	21,858	32,000
Net change in short-term debt	(15,000)	0
Dividends paid in cash	(899)	(892)
Proceeds from issuance of common stock	110	135
Repayments of long-term debt	0	8
Net cash provided by financing activities	6,069	31,251
Net decrease in Cash and Cash Equivalents	(3,680)	(39,745)
Cash and cash equivalents, beginning of period	34,953	88,121
Cash and cash equivalents, end of period	31,273	48,376
Supplemental Cash Flow information:
Cash paid for: Interest	4,765	1,244
Taxes	360	0
Supplemental non-cash disclosures:
Change in unrealized loss on securities available for sale	3,438	(18,049)
Cumulative effect of the adoption of ASC 326	$ 1,524	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 1. Summary of Significant Accounting Policies Principles of Consolidation The Consolidated Financial Statements include the accounts of F&M Bank Corp. (the “Company”), Farmers & Merchants Bank (the “Bank”), TEB Life Insurance Company (“TEB”), Farmers & Merchants Financial Services, Inc. (“FMFS”), VBS Mortgage, LLC (dba “F&M Mortgage”), and VSTitle, LLC (“VST”), with all significant intercompany accounts and transactions eliminated. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”) and to accepted practices within the banking industry. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The material estimate that is particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses. Reclassification Certain reclassifications have been made to prior period amounts to conform to current period presentation. None of these reclassifications are considered material and have no impact on net income. Nature of Operations The Company, through its subsidiary Farmers & Merchants Bank, operates under a charter issued by the Commonwealth of Virginia and provides commercial banking services. As a state chartered bank, the Bank is subject to regulation by the Virginia Bureau of Financial Institutions and the Board of Governors of the Federal Reserve System (the “Federal Reserve”). The Bank provides services to customers primarily in the counties of Rockingham, Shenandoah, Frederick and Augusta, and the cities of Harrisonburg, Staunton, Waynesboro and Winchester in Virginia. Services are provided at thirteen branch offices and a Dealer Finance Division. The Company offers insurance, mortgage lending, title insurance and financial services through its subsidiaries, TEB Life Insurance Company, Farmers & Merchants Financial Services, Inc., F&M Mortgage, and VSTitle, LLC. Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, federal funds sold, and interest-bearing deposits. Generally, federal funds are purchased and sold on an overnight basis. Accounting Standards Adopted in 2023 On January 1, 2023, the Company adopted Accounting Standards Update (“ASU”) 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments “ASC 326”. This standard replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. CECL requires an estimate of credit losses for the remaining estimated life of the financial asset using historical experience, current conditions, and reasonable and supportable forecasts and generally applies to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities, and some off-balance sheet credit exposures such as unfunded commitments to extend credit. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. In addition, CECL made changes to the accounting for available for sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available for sale debt securities if management does not intend to sell and does not believe that it is more likely than not, they will be required to sell. The Company adopted ASC 326 and all related subsequent amendments thereto effective January 1, 2023 using the modified retrospective approach for all financial assets measured at amortized cost and off-balance sheet credit exposures. The transition adjustment of the adoption of CECL included an increase in the allowance for credit losses on loans of $777 thousand, which is presented as a reduction to net loans outstanding, and an increase in the allowance for credit losses on unfunded loan commitments of $747 thousand, which is recorded within Other Liabilities. The Company recorded a net decrease to retained earnings of $1.2 million as of January 1, 2023 for the cumulative effect of adopting CECL, which reflects the transition adjustments noted above, net of the applicable deferred tax assets recorded. Results for reporting periods beginning after January 1, 2023 are presented under CECL while prior period amounts continue to be reported in accordance with previously applicable accounting standards (“Incurred Loss”). The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to January 1, 2023. As of December 31, 2022, the Company did not have any other-than-temporarily impaired investment securities. Therefore, upon adoption of ASC 326, the Company determined that an allowance for credit losses on available for sale securities was not deemed material. The Company elected not to measure an allowance for credit losses for accrued interest receivable and instead elected to reverse interest income on loans or securities that are placed on nonaccrual status, which is generally when the instrument is 90 days past due, or earlier if the Company believes the collection of interest is doubtful. The Company has concluded that this policy results in the timely reversal of uncollectible interest. Allowance for Credit Losses – Held to Maturity Securities Management measures expected credit losses on held-to-maturity debt securities on a collective basis by major security type. Accrued interest receivable on held-to-maturity debt securities was immaterial at March 31, 2023 and was excluded from the estimate of credit losses. The state and local governments securities held by the Company are highly rated by major rating agencies. As a result, no allowance for credit losses was recorded on held to maturity at March 31, 2023. Allowance for Credit Losses – Available for Sale Securities For available for sale securities, management evaluates all investments in an unrealized loss position on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. If the Company has the intent to sell the security or it is more likely than not that the Company will be required to sell the security, the security is written down to fair value and the entire loss is recorded in earnings. If either of the above criteria is not met, the Company evaluates whether the decline in fair value is the result of credit losses or other factors. In making the assessment, the Company may consider various factors including the extent to which fair value is less than amortized cost, performance on any underlying collateral, downgrades in the ratings of the security by a rating agency, the failure of the issuer to make scheduled interest or principal payments and adverse conditions specifically related to the security. If the assessment indicates that a credit loss exists, the present value of cash flows expected to be collected are compared to the amortized cost basis of the security and any excess is recorded as an allowance for credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any amount of unrealized loss that has not been recorded through an allowance for credit loss is recognized in other comprehensive income. Changes in the allowance for credit loss are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the allowance for credit loss when management believes an available for sale security is confirmed to be uncollectible or when either of the criteria regarding intent or requirement to sell is met. At March 31, 2023, there was no allowance for credit loss related to the available for sale portfolio. Accrued interest receivable on available for sale debt securities totaled $1.4 million at March 31, 2023 and was excluded from the estimate of credit losses. Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost. Amortized cost is the principal balance outstanding, net of discounts and deferred fees and costs. Accrued interest receivable related to loans totaled $2.7 million at March 31, 2023 and was reported in accrued interest receivable on the consolidated balance sheets. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using methods that approximate a level yield without anticipating prepayments. The accrual of interest is generally discontinued when a loan becomes 90 days past due and is not well collateralized and in the process of collection, or when management believes, after considering economic and business conditions and collection efforts, that the principal or interest will not be collectible in the normal course of business. Past due status is based on contractual terms of the loan. A loan is considered to be past due when a scheduled payment has not been received 30 days after the contractual due date. All accrued interest is reversed against interest income when a loan is placed on nonaccrual status. Interest received on such loans is accounted for using the cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, there is a sustained period of repayment performance, and future payments are reasonably assured. Allowance for Credit Losses – Loans The allowance for credit losses is a valuation account that is deducted from the loans' amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when management believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Accrued interest receivable is excluded from the estimate of credit losses. The allowance for credit losses represents management’s estimate of lifetime credit losses inherent in loans as of the balance sheet date. The allowance for credit losses is estimated by management using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The Company utilizes a Qualitative Scorecard (“scorecard”) to adjust the historical loss information, as necessary, to reflect the Company’s expectations about the future. For each segment, the scorecard calculates the difference between the quantitative expected credit loss and the high watermark average remaining maturity loss rates. This difference is the maximum qualitative adjustment that can be applied to that segment. Due to the low number of losses in the Bank’s portfolio, in particular during the great financial crisis from 2008-2012, a number of pool sets will leverage peer data to calculate the overall loss rate. The Company believes that in order to provide a reasonable and supportable loss rate, data representative of losses during a financial downturn will provide a better representation of the perceived risk in the portfolio. In determining how to apply the weightings for the various qualitative factors, management assessed which factors would have the highest impact on potential loan losses. The economy and problem loan trends were determined to have the most significant effect on the estimated losses. The most influential factor on potential loan losses was the economic conditions, with a weighting of 20%-25%. The Company will evaluate the weighting applied to each pool on an annual basis. The Company measures expected credit losses for loans on a pooled basis when similar risk characteristics exist. The Company has identified the following portfolio segments and calculates the allowance for credit losses for each using a remaining life methodology: 1-4 family residential construction. Other construction, land development and land. Secured by farmland. Home equity - open end. Real estate. Home equity - closed end. Multifamily. Owner-occupied commercial real estate. Other commercial real estate. Agriculture loans. Commercial and industrial. Credit cards. Automobile loans. Other consumer loans. Municipal loans. Additionally, the allowance for credit losses calculation includes subjective adjustments for qualitative risk factors that are likely to cause estimated credit losses to differ from historical experience. These qualitative adjustments may increase or reduce reserve levels and include adjustments for lending management experience and risk tolerance, loan review and audit results, asset quality and portfolio trends, loan portfolio growth, industry concentrations, trends in underlying collateral, external factors and economic conditions not already captured. Loans that do not share risk characteristics are evaluated on an individual basis. When management determines that foreclosure is probable and the borrower is experiencing financial difficulty, the expected credit losses are based on the fair value of collateral at the reporting dated adjusted for selling costs as appropriate. Allowance for Credit Losses – Unfunded Commitments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit issued to meet customer financing needs. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for off-balance sheet loan commitments is represented by the contractual amount of those instruments. Such financial instruments are recorded when they are funded. The Company records an allowance for credit losses on off-balance sheet credit exposures, unless the commitments to extend credit are unconditionally cancelable, through a charge to provision for unfunded commitments in the Company’s income statements. The allowance for credit losses on off-balance sheet credit exposures is estimated by loan segment at each balance sheet date under the current expected credit loss model using the same methodologies as portfolio loans, taking into consideration the likelihood that funding will occur as well as any third-party guarantees. The allowance for unfunded commitments is included in other liabilities on the Company’s consolidated balance sheets. Earnings per Share Accounting guidance specifies the computation, presentation and disclosure requirements for earnings per share (“EPS”) for entities with publicly held common stock or potential common stock such as options, warrants, convertible securities or contingent stock agreements if those securities trade in a public market. Basic EPS is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding. Nonvested restricted shares are included in the computation of basic earnings per share as the holder is entitled to full shareholder benefits during the vesting period, including voting rights and sharing in nonforfeitable dividends. Recent Accounting Pronouncements Accounting Standards adopted in 2023: In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU, as amended, requires an entity to measure expected credit losses for financial assets carried at amortized cost based on historical experience, current conditions, and reasonable and supportable forecasts. Among other things, the ASU also amended the impairment model for available for sale securities and addressed purchased financial assets with deterioration. ASU 2016-13 was effective for the Company on January 1, 2023. The adjustment recorded at adoption to the overall allowance for credit losses, which consisted of adjustments to the allowance for credit losses on loans, as well as an adjustment to the Company’s reserve for unfunded loan commitments, was $1.5 million. The adjustment net of tax recorded to stockholders’ equity totaled $1.2 million. See Note 1 for additional details of adoption of this standard. In March 2022, the FASB issued Accounting Standards Update ASU No. 2022-02, “Financial Instruments-Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 addresses areas identified by the FASB as part of its post-implementation review of the credit losses standard (ASU 2016-13) that introduced the CECL model. The amendments eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted the CECL model and enhance the disclosure requirements for loan refinancings and restructurings made with borrowers experiencing financial difficulty. In addition, the amendments require a public business entity to disclose current-period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The amendments in this ASU should be applied prospectively, except for the transition method related to the recognition and measurement of TDRs, an entity has the option to apply a modified retrospective transition method, resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. ASU 2022-02 was effective for the Company on January 1, 2023. The adoption of ASU 2022-02 did not have a material impact on the Company’s consolidated financial statements. In March 2022, the FASB issued ASU No. 2022-01, “Derivatives and Hedging (Topic 815), Fair Value Hedging—Portfolio Layer Method.” ASU 2022-01 clarifies the guidance in ASC 815 on fair value hedge accounting of interest rate risk for portfolios of financial assets and is intended to better align hedge accounting with an organization’s risk management strategies. In 2017, FASB issued ASU 2017-12 to better align the economic results of risk management activities with hedge accounting. One of the major provisions of that standard was the addition of the last-of-layer hedging method. For a closed portfolio of fixed-rate prepayable financial assets or one or more beneficial interests secured by a portfolio of prepayable financial instruments, such as mortgages or mortgage-backed securities, the last-of-layer method allows an entity to hedge its exposure to fair value changes due to changes in interest rates for a portion of the portfolio that is not expected to be affected by prepayments, defaults, and other events affecting the timing and amount of cash flows. ASU 2022-01 renames that method the portfolio layer method. For public business entities, ASU 2022-01 is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The adoption of ASU 2022-01 did not have a material impact on the Company’s consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”. The ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The ASU is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2022. Entities should apply the amendments prospectively and early adoption is permitted. The adoption of ASU 2021-08 did not have a material impact on the Company’s consolidated financial statements. Accounting Standards Pending Adoption: In March 2023, the FASB issued ASU No. 2023-02, “Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method”. These amendments allow reporting entities to elect to account for qualifying tax equity investments using the proportional amortization method, regardless of the program giving rise to the related income tax credits. The ASU is effective for public business entities for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted for all entities in any interim period. The Company does not expect the adoption of ASU 2023-02 to have a material impact on its consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” These amendments provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued. It is intended to help stakeholders during the global market-wide reference rate transition period. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022. Subsequently, in January 2021, the FASB issued ASU No. 2021-01 “Reference Rate Reform (Topic 848): Scope.” This ASU clarifies that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The ASU also amends the expedients and exceptions in Topic 848 to capture the incremental consequences of the scope clarification and to tailor the existing guidance to derivative instruments affected by the discounting transition. An entity may elect to apply ASU No. 2021-01 on contract modifications that change the interest rate used for margining, discounting, or contract price alignment retrospectively as of any date from the beginning of the interim period that includes March 12, 2020, or prospectively to new modifications from any date within the interim period that includes or is subsequent to January 7, 2021, up to the date that financial statements are available to be issued. An entity may elect to apply ASU No. 2021-01 to eligible hedging relationships existing as of the beginning of the interim period that includes March 12, 2020, and to new eligible hedging relationships entered into after the beginning of the interim period that includes March 12, 2020. The Company transitioned all loan agreements, other than SWAP loans, away from LIBOR during 2022. The SWAP loans have amended Rate Protection Agreements executed by the borrower in preparation of transition away from LIBOR by the swap holder. In March 2023, the FASB issued ASU No. 2023-01, “Leases (Topic 842): Common Control Arrangements”. These amendments require entities to amortize leasehold improvements associated with common control leases over the useful life to the common control group. The ASU is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. If an entity adopts the amendments in an interim period, it must adopt them as of the beginning of the fiscal year that includes that interim period. Transition can be done either retrospectively or prospectively. The Company does not expect the adoption of ASU 2023-01 to have a material impact on its consolidated financial statements. In December 2022, the FASB issued ASU No. 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848”. ASU 2022-06 extends the period of time preparers can utilize the reference rate reform relief guidance in Topic 848. The objective of the guidance in Topic 848 is to provide relief during the temporary transition period, so the FASB included a sunset provision within Topic 848 based on expectations of when the LIBOR would cease being published. In 2021, the UK Financial Conduct Authority delayed the intended cessation date of certain tenors of U.S. dollar LIBOR to June 30, 2023. To ensure the relief in Topic 848 covers the period of time during which a significant number of modifications may take place, the ASU defers the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The ASU is effective for all entities upon issuance. The Company transitioned all loan agreements, other than SWAP loans, away from LIBOR during 2022. The SWAP loans have amended Rate Protection Agreements executed by the borrower in preparation of transition away from LIBOR by the swap holder. In June 2022, the FASB issued ASU No. 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions”. ASU 2022-03 clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The ASU is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company does not expect the adoption of ASU 2022-03 to have a material impact on its consolidated financial statements. Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material effect on the Company’s financial position, result of operations or cash flows.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2023
Investment Securities
Investment Securities	Note 2. Investment Securities The amortized cost and estimated fair value of securities held to maturity along with gross unrealized gains and losses are summarized as follows (dollars in thousands): Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value March 31, 2023 U. S. Treasury $ 125 $ - $ 11 $ 114 December 31, 2022 U. S. Treasury $ 125 $ - $ 13 $ 112 There is no allowance for credit losses on held to maturity securities. At March 31, 2023, the Company had no securities held-to-maturity that were past due 30 days or more as to principal or interest payments. The Company had no securities held-to-maturity classified as nonaccrual for the quarter ended March 31, 2023. The amortized cost and estimated fair value of securities available for sale along with gross unrealized gains and losses are summarized as follows (dollars in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value March 31, 2023 U.S. Treasury $ 39,908 $ - $ 2,706 $ 37,202 U.S. Agency 143,477 - 11,978 131,499 Municipal bonds 42,463 93 3,577 38,979 Mortgage-backed securities 179,715 109 25,180 154,644 Corporate 30,550 1 4,627 25,924 Total Securities Available for Sale $ 436,113 $ 203 $ 48,068 $ 388,248 Amortized Cost Unrealized Gains Unrealized Losses Fair Value December 31, 2022 U.S. Treasury $ 39,902 $ - $ 3,259 $ 36,643 U.S. Agency 143,473 - 13,725 129,748 Municipal bonds 46,331 27 4,160 42,198 Mortgage-backed securities 183,044 77 26,246 156,875 Corporate 30,550 - 3,919 26,631 Total Securities Available for Sale $ 443,300 $ 104 $ 51,309 $ 392,095 There was no allowance for credit losses on available for sale securities. The amortized cost and fair value of securities at March 31, 2023, by contractual maturity are shown below (dollars in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities Held to Maturity Securities Available for Sale Amortized Fair Amortized Fair Cost Value Cost Value Due in one year or less $ 125 $ 114 $ 21,010 $ 20,412 Due after one year through five years - - 187,096 172,416 Due after five years - - 78,775 67,580 Due after ten years - - 149,232 127,840 Total $ 125 $ 114 $ 436,113 $ 388,248 There were no sales of available for sale securities in the first quarter of 2023 or 2022. The following table shows the gross unrealized losses and estimated fair value of available for sale securities for which an allowance for credit losses has not been recorded, aggregated by category and length of time that securities have been in a continuous unrealized loss position at March 31, 2023 (dollars in thousands): Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2023 U.S. Treasury $ 4,868 $ 134 $ 32,335 $ 2,572 $ 37,203 $ 2,706 U.S. Agency 4,762 238 126,737 11,740 131,499 11,978 Municipal bonds 2,421 179 30,935 3,398 33,356 3,577 Mortgage-backed securities 2,657 61 147,904 25,119 150,561 25,180 Corporate 7,829 1,121 18,094 3,506 25,923 4,627 Total $ 22,537 $ 1,733 $ 356,005 $ 46,335 $ 378,542 $ 48,068 Unrealized losses at March 31, 2023 were generally attributable to changes in market interest rates and interest spread relationships since the investment securities were originally purchased, and not due to the credit quality concerns on the investment securities. Issuers continue to make timely principal and interest payments and the Company currently has no plans to sell the investments and it is more likely than not that the Company will not have to sell the securities before recovery of its amortized cost basis, which may be at maturity. The following table shows the gross unrealized losses and estimated fair value of available sale securities and held to maturity securities aggregated by category and length of time that securities have been in a continuous unrealized loss position at December 31, 2022 (dollars in thousands): Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2022 U.S. Treasury $ 9,657 $ 362 $ 26,987 $ 2,897 $ 36,644 $ 3,259 U.S. Agency 13,914 1,083 115,835 12,642 129,749 13,725 Municipal bonds 21,805 1,426 18,710 2,734 40,515 4,160 Mortgage-backed securities 32,823 2,429 119,892 23,817 152,715 26,246 Corporate 16,252 2,198 10,379 1,721 26,631 3,919 Total $ 94,451 $ 7,498 $ 291,803 $ 43,811 $ 386,254 $ 51,309 As of March 31, 2023, other investments consist of investments in thirteen low-income housing and historic equity partnerships (carrying basis of $5.7 million), stock in the Federal Home Loan Bank of Atlanta (“FHLB’) (carrying basis $2.97 million) and various other investments (carrying basis $1.9 million). The interests in low-income housing and historic equity partnerships have limited transferability and the interests in the other stocks are restricted as to sales. The fair values of these securities are estimated to approximate their carrying value as of March 31, 2023. At March 31, 2023, the Company was committed to invest an additional $775 thousand in three low-income housing limited partnerships. These funds will be paid as requested by the general partner to complete the projects. This additional investment has been reflected in the above carrying basis and in other liabilities on the consolidated balance sheet. The Company does not have any pledged securities.

Loans and Allowance for Credit

Loans and Allowance for Credit Losses	3 Months Ended
	Mar. 31, 2023
Loans and Allowance for Credit Losses
Loans and Allowance for Credit Losses	Note 3. Loans and Allowance for Credit Losses Under adoption of ASC 326, there were changes to certain loan segments to better differentiate credit characteristics and align with our ACL model. Construction/land development was split into two segments: 1-4 family residential construction and other construction, land development and land. Commercial real estate was also split into two segments: owner-occupied commercial real estate and other commercial real estate. Commercial and industrial – non-real estate was divided into agricultural loans, commercial and industrial loans, and municipal loans. Dealer finance was consolidated with other automobile loans. The following is a summary of the major categories of total loans outstanding at March 31, 2023 and December 31, 2022 (dollars in thousands): March 31, 2023 1-4 Family residential construction $ 28,774 Other construction, land development and land 40,472 Secured by farmland 74,322 Home equity – open end 46,434 Real estate 161,022 Home Equity – closed end 4,563 Multifamily 10,042 Owner-occupied commercial real estate 91,595 Other commercial real estate 103,392 Agricultural loans 11,849 Commercial and industrial 45,307 Credit Cards 3,256 Automobile loans 114,549 Other consumer loans 15,681 Municipal loans 6,248 Gross loans 757,506 Unamortized net deferred loan fees (586 ) Less allowance for credit losses 8,546 Net loans $ 748,374 December 31, 2022 Construction/Land Development $ 68,671 Farmland 74,322 Real Estate 153,281 Multi-Family 9,622 Commercial Real Estate 195,163 Home Equity – closed end 4,707 Home Equity – open end 46,928 Commercial & Industrial – Non-Real Estate 56,625 Consumer 6,488 Dealer Finance 125,125 Credit Cards 3,242 Gross loans 744,174 Unamortized net deferred loan fees (570 ) Less allowance for credit losses 7,936 Net loans $ 735,668 The Company has pledged loans held for investment as collateral for borrowings with the FHLB totaling $248.8 million and $209.8 million as of March 31, 2023 and December 31, 2022, respectively. The Company maintains a blanket lien on certain loans in its residential real estate, commercial, agricultural farmland, and home equity portfolios. Nonaccrual and Past Due Loans The following table shows the aging of the Company’s loan portfolio, by class, at March 31, 2023 (dollars in thousands): Accruing Loans 30-59 Days Past due Accruing Loans 60-89 Days Past due Accruing Loans 90 Days or More Past due Nonaccrual Loans Accruing Current Loans Total Loans March 31, 2023 1-4 Family residential construction $ 589 $ - $ - $ - $ 28,185 $ 28,774 Other construction, land development and land - - - 33 40,439 40,472 Secured by farmland - - - 984 73,338 74,322 Home equity – open end 204 331 - 24 45,875 46,434 Real estate 1,880 - - 421 158,721 161,022 Home Equity – closed end - - - - 4,563 4,563 Multifamily - - - - 10,042 10,042 Owner-occupied commercial real estate 171 - - - 91,424 91,595 Other commercial real estate 71 - - - 103,321 103,392 Agricultural loans - - - 88 11,761 11,849 Commercial and industrial 7 93 30 - 45,177 45,307 Credit Cards 25 4 9 - 3,218 3,256 Automobile loans 808 251 - 193 113,297 114,549 Other consumer loans 67 13 - - 15,601 15,681 Municipal loans - - - - 6,248 6,248 Gross loans 3,822 692 39 1,743 751,210 757,506 Less: Unamortized net deferred loan fees - - - - (586 ) (586 ) Loans held for investment $ 3,822 $ 692 $ 39 $ 1,743 $ 750,654 $ 756,920 There were $1.7 million and $2.2 million in nonaccrual loans at March 31, 2023 and December 31, 2022, respectively. The Company would have earned $28 thousand in the first quarter of 2023 and $54 thousand in the first quarter of 2022, if interest on the nonaccrual loans had been accrued. The following table shows the aging of the Company’s loan portfolio, by class, at December 31, 2022 (dollars in thousands): Accruing Loans 30-59 Days Past due Accruing Loans 60-89 Days Past due Accruing Loans 90 Days or More Past Due Nonaccrual Loans Accruing Current Loans Total Loans December 31, 2022 Construction/Land Development $ 477 $ 539 $ - $ 21 $ 67,634 $ 68,671 Farmland 85 18 - 1,458 72,761 74,322 Real Estate 1,807 226 - 419 150,829 153,281 Multi-Family - - - - 9,622 9,622 Commercial Real Estate 234 82 - - 194,847 195,163 Home Equity – closed end 3 - - - 4,704 4,707 Home Equity – open end 385 177 - - 46,366 46,928 Commercial & Industrial – Non- Real Estate 104 - 31 101 56,389 56,625 Consumer 11 11 - 15 6,451 6,488 Dealer Finance 1,117 225 5 210 123,568 125,125 Credit Cards 51 9 2 - 3,180 3,242 Less: Unamortized net deferred loan fees - - - - (570 ) (570 ) Loans held for investment $ 4,274 $ 1,287 $ 38 $ 2,224 $ 735,781 $ 743,604 The following table is a summary of the Company’s nonaccrual loans by major categories for the periods indicated (dollars in thousands). CECL Incurred Loss March 31, 2023 December 31, 2022 Nonaccrual loans with No Allowance Nonaccrual Loans with an Allowance Total Nonaccrual Loans Nonaccrual Loans 1-4 Family residential construction $ - $ - $ - $ - Other construction, land development and land 33 - 33 21 Secured by farmland 984 - 984 1,458 Home equity – open end 24 - 24 - Real estate 421 - 421 419 Home Equity – closed end - - - - Multifamily - - - - Owner-occupied commercial real estate - - - - Other commercial real estate - - - - Agricultural loans 88 - 88 88 Commercial and industrial - - - 13 Credit Cards - - - - Automobile loans 193 - 193 210 Other consumer loans - - - 15 Municipal loans - - - - Total loans $ 1,743 $ - $ 1,743 $ 2,224 The following table represents the accrued interest receivables written off by reversing interest income during the three months ended March 31, 2023 (dollars in thousands): For the Three Months Ended March 31, 2023 1-4 Family residential construction $ - Other construction, land development and land - Secured by farmland - Home equity – open end - Real estate - Home Equity – closed end - Multifamily - Owner-occupied commercial real estate - Other commercial real estate - Agricultural loans - Commercial and industrial - Credit Cards - Automobile loans 2 Other consumer loans - Municipal loans - Total loans $ 2 Credit Quality Indicators The following table presents the Company’s recorded investment in loans by credit quality indicators by year of origination as of March 31, 2023 (dollars in thousands): Term Loans by Year of Origination 2023 2022 2021 2020 2019 Prior Revolving Total 1-4 Family residential construction Pass $ - $ - $ - $ - $ - $ - $ 27,443 $ 27,443 Watch 642 - - - - - 250 892 Substandard - - - - - - 439 439 Total 1-4 Family residential construction 642 - - - - - 28,132 28,774 Current period gross write-offs - - - - - - - - Other construction, land development and land Pass 3,375 5,312 6,194 1,917 3,006 5,823 13,853 39,480 Watch - - - - - 268 170 438 Substandard - 521 - - - 33 - 554 Total Other construction, land development and land 3,375 5,833 6,194 1,917 3,006 6,124 14,023 40,472 Current period gross write-offs - - - - - - - - Secured by farmland Pass 890 13,597 14,991 28,307 3,387 7,090 4,157 72,419 Watch - - - - - 919 - 919 Substandard - - 315 - - 652 17 984 Total Secured by farmland 890 13,597 15,306 28,307 3,387 8,661 4,174 74,322 Current period gross write-offs - - - - - - - - Home equity – open end Pass 370 - - - - 144 44,321 44,835 Watch - - - - - - 1,525 1,525 Substandard - - - - - - 74 74 Total Home equity - open end 370 - - - - 144 45,920 46,434 Current period gross write-offs - - - - - - - - Real estate Pass 12,125 43,827 15,316 12,515 6,850 59,446 - 150,079 Watch - - - 507 156 6,217 - 6,880 Substandard - - 547 - 1,233 2,283 - 4,063 Total Real estate 12,125 43,827 15,863 13,022 8,239 67,946 - 161,022 Current period gross write-offs - - - - - - - - Home Equity – closed end Pass 134 408 127 1,148 507 1,848 - 4,172 Watch - - - - - 378 - 378 Substandard - - - - 13 - - 13 Total Home Equity - closed end 134 408 127 1,148 520 2,226 - 4,563 Current period gross write-offs - - - - - - - - Multifamily Pass - 2,765 1,449 935 - 1,640 3,145 9,934 Watch - - - - - 108 - 108 Substandard - - - - - - - - Total Multifamily - 2,765 1,449 935 - 1,748 3,145 10,042 Current period gross write-offs - - - - - - - - Owner-occupied commercial real estate Pass 1,228 18,761 18,693 7,405 3,720 24,781 6,921 81,509 Watch - - - - 41 2,135 - 2,176 Substandard - - - - 6,398 1,214 298 7,910 Total Owner-occupied commercial real estate 1,228 18,761 18,693 7,405 10,159 28,130 7,219 91,595 Current period gross write-offs - - - - - - - - Other commercial real estate Pass 2,642 31,221 13,182 5,194 3,942 36,496 1,840 94,517 Watch - - - - - 8,539 249 8,788 Substandard - - - - - 87 - 87 Total Other commercial real estate 2,642 31,221 13,182 5,194 3,942 45,122 2,089 103,392 Current period gross write-offs - - - - - - - - Term Loans by Year of Origination 2023 2022 2021 2020 2019 Prior Revolving Total Agricultural loans Pass 914 3,595 678 653 13 103 5,641 11,597 Watch - - - - - - - - Substandard - 62 44 11 - - 135 252 Total Agricultural loans 914 3,657 722 664 13 103 5,776 11,849 Current period gross write-offs - - - - - - - - Commercial and industrial Pass 2,450 10,002 5,386 2,409 1,098 774 19,860 41,979 Watch - - 66 - - 2 3,212 3,280 Substandard - - 14 30 - 4 - 48 Total 1-4 Commercial and industrial 2,450 10,002 5,466 2,439 1,098 780 23,072 45,307 Current period gross write-offs - - - - - - - - Credit Cards Pass - - - - - - 3,247 3,247 Watch - - - - - - - - Substandard - - - - - - 9 9 Total Credit cards - - - - - - 3,256 3,256 Current period gross write-offs - - - - - - 5 5 Automobile loans Pass 17,288 50,785 27,514 11,900 4,271 2,064 - 113,822 Watch - 151 165 76 55 72 - 519 Substandard - 79 93 17 6 13 - 208 Total Automobile loans 17,288 51,015 27,772 11,993 4,332 2,149 - 114,549 Current period gross write-offs - 103 177 68 2 12 - 362 Other consumer loans Pass 2,124 7,365 3,531 1,573 618 132 307 15,650 Watch - 14 5 1 5 6 - 31 Substandard - - - - - - - - Total Other consumer loans 2,124 7,379 3,536 1,574 623 138 307 15,681 Current period gross write-offs - 16 - 1 1 - - 18 Municipal loans Pass - 236 1,070 1,158 1,285 2,499 - 6,248 Watch - - - - - - - - Substandard - - - - - - - - Total Municipal loans - 236 1,070 1,158 1,285 2,499 - 6,248 Current period gross write-offs - - - - - - - - Total loans 44,182 188,701 109,380 75,756 36,604 165,770 137,113 757,506 Less: Unamortized net deferred loan fees (586 ) Loans held for investment 756,920 Current period gross write-offs - 119 177 68 3 12 5 385 Under the adoption of ASC 326, the Company consolidated their internal risk ratings 1 through 5 into a pass category. Doubtful loans are charged off; dealer finance loans utilize the updated credit quality indicators. Credit cards are classified as pass or substandard. The credit quality indicators for watch and substandard remain unchanged. Description of the Company’s credit quality indicators under CECL: Pass: Grade 6 – Watch Grade 7 – Substandard Credit cards are classified as pass or substandard. A credit card is substandard when payments of principal and interest are past due 90 days or more. The following table shows the Company’s loan portfolio broken down by internal loan grade as of December 31, 2022 (dollars in thousands): December 31, 2022 Grade 1 Minimal Risk Grade 2 Modest Risk Grade 3 Average Risk Grade 4 Acceptable Risk Grade 5 Marginally Acceptable Grade 6 Watch Grade 7 Substandard Grade 8 Doubtful Total Construction/Land Development $ - $ 4 $ 11,112 $ 42,684 $ 13,116 $ 1,213 $ 542 $ - $ 68,671 Farmland 155 269 11,373 38,051 22,069 947 1,458 - 74,322 Real Estate - 553 27,003 86,269 28,560 6,950 3,946 - 153,281 Multi-Family - - 963 5,116 3,430 113 - - 9,622 Commercial Real Estate - 3,097 55,662 72,779 41,749 13,878 7,998 - 195,163 Home Equity – closed end - 48 1,065 2,560 639 382 13 - 4,707 Home Equity – open end 27 1,272 18,671 23,207 2,091 1,611 49 - 46,928 Commercial & Industrial - Non-Real Estate 10 516 12,934 26,310 15,613 911 331 - 56,625 Consumer (excluding dealer) 33 286 2,965 3,105 68 16 15 - 6,488 Gross loans $ 225 $ 6,045 $ 141,748 $ 300,081 $ 127,335 $ 26,021 $ 14,352 $ - $ 615,807 Less: Unamortized net deferred loan fees (570 ) Total $ 615,237 Credit Cards Dealer Finance Performing $ 3,240 $ 124,910 Nonperforming 2 215 Total $ 3,242 $ 125,125 Description of internal loan grades under Incurred Loss: Grade 1 – Minimal Risk Grade 2 – Modest Risk Grade 3 – Average Risk Grade 4 – Acceptable Risk Grade 5 – Marginally acceptable s Grade 6 – Watch Grade 7 – Substandard Grade 8 – Doubtful Credit card and dealer finance loans are classified as performing or nonperforming. A loan is nonperforming when payments of principal and interest are past due 90 days or more. Collateral Dependent Disclosures The Company designates individually evaluated loans as collateral dependent loans, as well as other loans that management of the Company designates as having higher risk. Collateral dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. These loans do not share common risk characteristics and are not included within the collectively evaluated loans for determining the allowance for credit losses. Under CECL, for collateral dependent loans, the Company has adopted the practical expedient to measure the allowance for credit losses based on the fair value of collateral. The allowance for credit losses is calculated on an individual loan basis based on the shortfall between the fair value of the loan's collateral, which is adjusted for liquidation costs/discounts, and amortized cost. If the fair value of the collateral exceeds the amortized cost, no allowance is required. The following table presents an analysis of collateral-dependent loans of the Company as of March 31, 2023 (dollars in thousands): March 31, 2023 Real Estate Business/Other Assets 1-4 Family residential construction $ - $ - Other construction, land development and land 520 - Secured by farmland - - Home equity – open end - - Real estate - - Home Equity – closed end - - Multifamily - - Owner-occupied commercial real estate - - Other commercial real estate - - Agricultural loans - - Commercial and industrial - - Credit Cards - - Automobile loans - - Other consumer loans - - Municipal loans - - Total loans $ 520 $ - Allowance for Credit Losses The following table (dollars in thousands) summarizes the activity related to the allowance for credit losses for the three months ended March 31, 2023 under the CECL methodology. December 31, 2022 Adjustment for adoption of ASU 2016-13 Charge-offs Recoveries Provision for credit losses March 31, 2023 1-4 Family residential construction $ 324 $ 109 $ - $ - $ - $ 433 Other construction, land development and land 694 602 - - - 1,296 Secured by farmland 571 311 - - - 882 Home equity – open end 446 (189 ) - - - 257 Real estate 1,389 (184 ) - - - 1,205 Home Equity – closed end 39 96 - - - 135 Multifamily 71 182 - - - 253 Owner-occupied commercial real estate 992 280 - - - 1,272 Other commercial real estate 1,023 (582 ) - - - 441 Agricultural loans 80 (58 ) - - - 22 Commercial and industrial 368 338 - 1 - 707 Credit Cards 68 26 5 1 - 90 Automobile loans 1,790 (257 ) 362 210 - 1,381 Other consumer loans 81 103 18 6 - 172 Municipal loans - - - - - - Total loans $ 7,936 $ 777 $ 385 $ 218 $ - $ 8,546 Prior to the adoption of ASC 326 on January 1, 2023, the Company calculated the allowance for loan losses under the incurred loss methodology. The following tables are disclosures related to the allowance for loan losses in prior periods (dollars in thousands). March 31, 2022 Beginning Balance Charge-offs Recoveries Provision Ending Balance Individually Evaluated for Impairment Collectively Evaluated for Impairment Allowance for loan losses: Construction/Land Development $ 977 $ - $ - $ (275 ) $ 702 $ - $ 702 Farmland 448 - - 4 452 - 452 Real Estate 1,162 - - 2 1,164 113 1,051 Multi-Family 29 - - 6 35 - 35 Commercial Real Estate 2,205 - - (112 ) 2,093 456 1,637 Home Equity – closed end 41 - - (2 ) 39 - 39 Home Equity – open end 407 - 129 (162 ) 374 - 374 Commercial & Industrial – Non-Real Estate 288 1 30 (7 ) 310 - 310 Consumer 520 21 11 13 523 - 523 Dealer Finance 1,601 204 152 85 1,634 13 1,621 Credit Cards 70 12 7 (2 ) 63 - 63 Total $ 7,748 $ 238 $ 329 $ (450 ) $ 7,389 $ 582 $ 6,807 The following tables presents, as of March 31, 2023 and December 31, 2022 segregated by loan portfolio segment, details of the loan portfolio and the ACLL calculated in accordance with our credit loss accounting methodology for loans described above (dollars in thousands). March 31, 2023 Loan Balances Allowance for Credit Losses - Loans Loans Individually Evaluated Loans Collectively Evaluated Total Loans Individually Evaluated Loans Collectively Evaluated Total 1-4 Family residential construction $ - $ 28,774 $ 28,774 $ - $ 433 $ 433 Other construction, land development and land 520 39,952 40,472 228 1,068 1,296 Secured by farmland - 74,322 74,322 - 882 882 Home equity – open end - 46,434 46,434 - 257 257 Real estate - 161,022 161,022 - 1,205 1,205 Home Equity – closed end - 4,563 4,563 - 135 135 Multifamily - 10,042 10,042 - 253 253 Owner-occupied commercial real estate - 91,595 91,595 - 1,272 1,272 Other commercial real estate - 103,392 103,392 - 441 441 Agricultural loans - 11,849 11,849 - 22 22 Commercial and industrial - 45,307 45,307 - 707 707 Credit Cards - 3,256 3,256 - 90 90 Automobile loans - 114,549 114,549 - 1,381 1,381 Other consumer loans - 15,681 15,681 - 172 172 Municipal loans - 6,248 6,248 - - - Total loans $ 520 $ 756,986 $ 757,506 $ 228 $ 8,318 $ 8,546 December 31, 2022 Loan Receivable Individually Evaluated for Impairment Collectively Evaluated for Impairment Construction/Land Development $ 68,671 $ 853 $ 67,818 Farmland 74,322 2,079 72,243 Real Estate 153,281 3,260 150,021 Multi-Family 9,622 - 9,622 Commercial Real Estate 195,163 9,111 186,052 Home Equity – closed end 4,707 - 4,707 Home Equity –open end 46,928 - 46,928 Commercial & Industrial – Non-Real Estate 56,625 - 56,625 Consumer 6,488 - 6,488 Dealer Finance 125,125 62 125,063 Credit Cards 3,242 - 3,242 Gross Loans 744,174 15,365 728,809 Less: Unamortized net deferred loan fees (570 ) - (570 ) Total $ 743,604 $ 15,365 $ 728,239 Prior to the adoption of ASU 2016-13, loans were considered impaired when, based on current information and events, it was probable the Company would be unable to collect all amounts due in accordance with the original contractual terms of the loan agreements. Impaired loans include loans on nonaccrual status and accruing troubled debt restructurings. When determining if the Company would be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement, the Company considered the borrower’s capacity to pay, which included such factors as the borrower’s current financial statements, an analysis of global cash flow sufficient to pay all debt obligations and an evaluation of secondary sources of repayment, such as guarantor support and collateral value. The Company individually assessed for impairment all substandard loans greater than $500 thousand and all troubled debt restructurings. The tables below include all loans deemed impaired, whether or not individually assessed for impairment. If a loan was deemed impaired, a specific valuation allowance was allocated, if necessary, so that the loan was reported net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment was expected solely from the collateral. Interest payments on impaired loans were typically applied to principal unless collectability of the principal amount was reasonably assured, in which case interest was recognized on a cash basis. The following table presents loans individually evaluated for impairment by class of loans as of December 31, 2022 (dollars in thousands): December 31, 2022 Unpaid Average Recorded Principal Related Recorded Investment(1) Balance Allowance Investment Impaired loans with no related allowance recorded: Construction/Land Development $ 332 $ 332 $ - $ 474 Farmland 2,535 2,079 - 2,137 Real Estate 1,882 1,882 - 2,107 Multi-Family - - - - Commercial Real Estate 8,131 8,131 - 8,851 Home Equity – closed end - - - - Home Equity – open end - - - - Commercial & Industrial – Non-Real Estate - - - - Consumer - - - - Credit cards - - - - Dealer Finance 7 7 - 11 12,887 12,431 - 13,580 Impaired loans with an allowance recorded: Construction/Land Development 521 521 228 261 Farmland - - - - Real Estate 1,378 1,378 92 1,466 Multi-Family - - - - Commercial Real Estate 980 980 11 1,935 Home Equity – closed end - - - - Home Equity – open end - - - - Commercial & Industrial – Non-Real Estate - - - - Consumer - - - - Credit cards - - - - Dealer Finance 55 55 13 62 2,934 2,934 344 3,724 Total impaired loans $ 15,821 $ 15,365 $ 344 $ 17,304 1 The following table presents information related to the average recorded investment and interest income recognized on impaired loans for the three-month periods ended March 31, 2022 (dollars in thousands): March 31, 2022 Average Recorded Interest Income Investment Recognized Impaired loans with no related allowance recorded: Construction/Land Development $ 641 $ 6 Farmland 2,251 70 Real Estate 2,566 33 Multi-Family - - Commercial Real Estate 9,763 186 Home Equity – closed end 74 - Home Equity – open end - - Commercial & Industrial – Non-Real Estate - - Consumer 3 - Credit Cards - - Dealer Finance 14 - 15,312 295 Impaired loans with an allowance recorded: Construction/Land Development $ - $ - Farmland - - Real Estate 1,334 16 Multi-Family - - Commercial Real Estate 4,624 42 Home Equity – closed end - - Home Equity – open end - - Commercial & Industrial – Non-Real Estate - - Consumer - - Credit Card - - Dealer Finance 75 1 6,033 59 Total Impaired Loans $ 21,345 $ 354 Modifications Made to Borrowers Experiencing Financial Difficulty The allowance for credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon asset origination or acquisition. The starting point for the estimate of the allowance for credit losses is historical loss information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. The Company uses a remaining life 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. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. Occasionally, the Company modifies loans by providing principal forgiveness on certain of its real estate loans. When principal forgiveness is provided, the amortized cost basis of the asset is written off against the allowance for credit losses. The amount of the principal forgiveness is deemed to be uncollectible; therefore, that portion of the loan is written off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the allowance for credit losses. In some cases, the Company will modify a certain loan by providing multiple types of concessions. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. For the real estate loans included in the “combination” tables, multiple types of modifications have been made on the same loan within the current reporting period. The combination is at least two of the following: a term extension, principal forgiveness, and interest rate reduction. There were no loans modified to borrowers experiencing financial difficulty in the three months ended March 31, 2023. Additionally, there were no loans that had a payment default during the quarter that were modified in the previous 12 months. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified in the last 12 months (dollars in thousands): Payment Status (Amortized Cost Basis) Current 30-89 Days Past Due 90+ Days Past Due 1-4 Family residential construction $ - $ - $ - Other construction, land development and land - - - Secured by farmland - - - Home equity – open end - - - Real estate 180 - - Home Equity – closed end - - - Multifamily - - - Owner-occupied commercial real estate - - - Other commercial real estate - - - Agricultural loans - - - Commercial and industrial - - - Credit Cards - - - Automobile loans 23 - - Other consumer loans - - - Municipal loans - - - Total loans $ 203 $ - $ - The following table shows, by modification type, TDRs that occurred during 2022 (dollars in thousands): December 31, 2022 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Extended maturity 3 $ 44 $ 44 Change in terms 1 162 162 Total 4 $ 206 $ 206 Unfunded Commitments The Company maintains an allowance for off-balance sheet credit exposures such as unfunded balances for existing lines of credit, commitments to extend future credit, as well as both standby and commercial letters of credit when there is a contractual obligation to extend credit and when this extension of credit is not unconditionally cancellable (i.e. commitment cannot canceled at any time). The allowance for off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur, which is based on a historical funding study derived from internal information, and an estimate of expected credit losses on commitments expected to be funded over its estimated life, which are the same loss rates that are used in computing the allowance for credit losses on loans and are discussed above. The allowance for credit losses for unfunded loan commitments of $747 thousand at March 31, 2023 is separately classified on the balance sheet within Other Liabilities. The following table presents the balance and activity in the allowance for credit losses for unfunded loan commitments for the three months ended March 31, 2023 (dollars in thousands). Total Allowance for Credit Losses – Unfunded Commitments Balance, December 31, 2022 $ - Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13 747 Provision for unfunded commitments - Balance, March 31, 2023 $ 747

Mortgage Banking and Derivative

Mortgage Banking and Derivatives	3 Months Ended
	Mar. 31, 2023
Mortgage Banking and Derivatives
Mortgage Banking and Derivatives	Note 4. Mortgage Banking and Derivatives Loans Held for Sale The Company, through the Bank’s mortgage banking subsidiary, F&M Mortgage, originates residential mortgage loans for sale in the secondary market. Residential mortgage loans held for sale are sold to the permanent investor with the mortgage servicing rights released. The Company uses fair value accounting for its entire portfolio of loans held for sale (“LHFS”) in accordance with ASC 820 – Fair Value Measurement and Disclosures. Fair value of the Company’s LHFS is based on observable market prices for the identical instruments traded in the secondary mortgage loan markets in which the Company conducts business totaled $1.2 million as of March 31, 2023 of which $1.2 million is related to unpaid principal. The Company’s portfolio of LHFS is classified as Level 2. Interest Rate Lock Commitments and Forward Sales Commitments The Company, through F&M Mortgage, enters into commitments to originate residential mortgage loans in which the interest rate on the loan is determined prior to funding, termed interest rate lock commitments (IRLCs). Such rate lock commitments on mortgage loans to be sold in the secondary market are considered to be derivatives. Upon entering into a commitment to originate a loan, the Company protects itself from changes in interest rates during the period prior to sale by requiring a firm purchase agreement from a permanent investor before a loan can be closed (forward sales commitment). The Company locks in the loan and rate with an investor and commits to deliver the loan if settlement occurs on a best efforts basis, thus limiting interest rate risk. Certain additional risks exist if the investor fails to meet its purchase obligation; however, based on historical performance and the size and nature of the investors the Company does not expect them to fail to meet their obligation. The Company determines the fair value of the IRLCs based on the price of the underlying loans obtained from an investor for loans that will be delivered on a best efforts basis while taking into consideration the probability that the rate loan commitments will close. The fair value of these derivative instruments is reported in “Other Assets” in the Consolidated Balance Sheet at March 31, 2023, and totaled $99 thousand, with a notional amount of $13.1 million and total positions of 40. The fair value of the IRLCs were reported in the “Other liabilities” in the Consolidated Balance Sheet at December 31, 2022 and totaled $92 thousand, with a notional amount of $12.2 million and total positions of 38. Changes in fair value are recorded as a component of “Mortgage banking income” in the Consolidated Income Statement for the period ended March 31, 2023 and 2022. The Company’s IRLCs are classified as Level 2. At March 31, 2023 and December 31, 2022, each IRLC and all LHFS were subject to a forward sales commitment on a best efforts basis. The Company uses fair value accounting for its forward sales commitments related to IRLCs and LHFS under ASC 825-10-15-4(b). The fair value of forward sales commitments was reported in “Other Assets” in the Consolidated Balance Sheet at March 31, 2023 and totaled $43 thousand, with a notional amount of $14.5 million and total positions of 45. The fair value of forward sales commitments was reported in “Other Assets” in the Consolidated Balance Sheet at December 31, 2022 and totaled $186 thousand, with a notional amount of $13.6 million and total positions of 43.

Employee Benefit Plan

Employee Benefit Plan	3 Months Ended
	Mar. 31, 2023
Employee Benefit Plan
Employee Benefit Plan	Note 5. Employee Benefit Plan The Bank has a qualified noncontributory defined benefit pension plan which covers substantially all of its full-time employees hired before April 1, 2012. The benefits are primarily based on years of service and earnings. The Company uses December 31 st Three Months Ended March 31, 2023 March 31, 2022 Service cost $ - $ 190 Interest cost 92 104 Expected return on plan assets (130 ) (195 ) Amortization of net loss - 58 Net periodic pension cost $ (38 ) $ 157

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
Stock-Based Compensation
Stock-based Compensation	Note 6. Stock-Based Compensation The Company granted stock awards to directors and employees under the Company’s 2020 Stock Incentive Plan. On March 7, 2023 the Bank’s Compensation Committee awarded 23,556 shares with a fair value of $526 thousand to selected employees. These shares vest 25% over each of the next four years. The Committee also awarded 1,309 shares with a fair value of $29 thousand to directors that vested upon issuance. There were 6,974 shares vested, less 96 shares netted for taxes, during the three months ended March 31, 2023. Unrecognized compensation expense related to the nonvested restricted stock as of March 31, 2023 totaled $980 thousand.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2023
Fair Value
Fair Value	Note 7. Fair Value The fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Accounting guidance for fair value excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. The Company records fair value adjustments to certain assets and liabilities and determines fair value disclosures utilizing a definition of fair value of assets and liabilities that states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Additional considerations are involved to determine the fair value of financial assets in markets that are not active. The Company uses a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. The three levels of the fair value hierarchy based on these two types of inputs are as follows: Level 1 Valuation is based on quoted prices in active markets for identical assets and liabilities. Level 2 Valuation is based on observable inputs including quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets and liabilities in less active markets, and model-based valuation techniques for which significant assumptions can be derived primarily from or corroborated by observable data in the market. Level 3 Valuation is based on model-based techniques that use one or more significant inputs or assumptions that are unobservable in the market. The following describes the valuation techniques used by the Company to measure certain financial assets and liabilities recorded at fair value on a recurring basis in the financial statements: Securities Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would include highly liquid government bonds, mortgage products and exchange traded equities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flow. Level 2 securities would include U.S. agency securities, mortgage-backed agency securities, obligations of states and political subdivisions and certain corporate, asset backed and other securities. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 of the valuation hierarchy. The carrying value of restricted Federal Reserve Bank of Richmond and FHLB stock approximates fair value based upon the redemption provisions of each entity and is therefore excluded from the following table. Loans Held for Sale The Company uses the fair value accounting for its entire portfolio of originated loans held for sale in accordance with ASC 820 – Fair Value Measurement and Disclosures. Fair value of the Company’s originated loans held for sale through F&M Mortgage is based on observable market prices for similar instruments traded in the secondary mortgage loan markets in which the Company conducts business. The Company’s portfolio of loans held for sale through F&M Mortgage is classified as Level 2. Gains and losses on the sale of loans are recorded within mortgage banking income, net on the Consolidated Statements of Income. Derivative assets – IRLCs The Company recognizes IRLCs at fair value based on the price of the underlying loans obtained from an investor for loans that will be delivered on a best-efforts basis while taking into consideration the probability that the rate lock commitments will close. All of the Company’s IRLCs are classified as Level 2. Derivative Asset/Liability – Forward Sale Commitments The Company uses the fair value accounting for its forward sales commitments related to IRLCs and LHFS. Best efforts sales commitments are entered into for loans intended for sale in the secondary market at the time the borrower commitment is made. The best efforts commitments are valued using the committed price to the counter-party against the current market price of the interest rate lock commitment or mortgage loan held for sale. All the Company’s forward sale commitments are classified Level 2. The following tables present the balances of financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022 (dollars in thousands): Fair Value Measurements Using: Balance at March 31, 2023 Level 1 Level 2 Level 3 Assets: Loans held for sale, F&M Mortgage $ 1,242 $ - $ 1,242 $ - U.S. Treasury 37,202 - 37,202 - U.S. Agency 131,499 - 131,499 - Municipal bonds 38,979 - 38,979 - Mortgage-backed securities 154,644 - 154,644 - Corporate 25,924 - 25,924 - IRLC 99 - 99 - Forward Sales Commitments 43 - 43 - Assets at Fair Value $ 389,632 $ - $ 389,632 $ - Fair Value Measurements Using: Balance at December 31, 2022 Level 1 Level 2 Level 3 Assets: Loans held for sale, F&M Mortgage $ 1,373 $ - $ 1,373 $ - U.S. Treasury 36,643 - 36,643 - U.S. Agency 129,748 - 129,748 - Municipal bonds 42,198 - 42,198 - Mortgage-backed securities 156,875 - 156,875 - Corporate 26,631 - 26,631 - Forward sales commitments 186 - 186 - Assets at Fair Value $ 393,654 $ - $ 393,654 $ - Liabilities: IRLC $ 92 $ - $ 92 $ - Liabilities at Fair Value $ 92 $ - $ 92 $ - Certain financial assets are measured at fair value on a nonrecurring basis in accordance with GAAP. Adjustments to the fair value of these assets usually result from the application of lower-of-cost-or-market accounting or write-downs of individual assets. The following describes the valuation techniques used by the Company to measure certain financial assets recorded at fair value on a nonrecurring basis in the financial statements: Collateral Dependent Loans with an ACL In accordance with ASC 326, may The following table summarizes the Company’s financial assets that were measured at fair value on a nonrecurring basis during the period (dollars in thousands): Fair Value Measurements Using: Collateral dependent loans with an ACL Balance at March 31, 2023 Level 1 Level 2 Level 3 Other construction, land development and land $ 292 $ - $ - $ 292 Total collateral dependent loans with an ACL $ 292 $ - $ - $ 292 Fair Value Measurements Using: Impaired Loans Balance at December 31, 2022 Level 1 Level 2 Level 3 Construction/Land Development $ 293 $ - $ - $ 293 Real Estate 1,286 - - 1,286 Commercial Real Estate 969 - - 969 Dealer Finance 42 - - 42 Total Impaired loans $ 2,590 $ - $ - $ 2,590 The following table presents information about Level 3 Fair Value Measurements for March 31, 2023 and December 31, 2022 (dollars in thousands): Fair Value at March 31, 2023 Valuation Technique Significant Unobservable Inputs Range Collateral Dependent Loans $ 292 thousand Discounted appraised value Discount for selling costs and marketability 62% Fair Value at December 31, 2022 Valuation Technique Significant Unobservable Inputs Range Impaired Loans $ 2,590 thousand Discounted appraised value Discount for selling costs and marketability 10.00%-33.00% (Average 19.00%) Other Real Estate Owned Certain assets such as other real estate owned (OREO) are measured at fair value less cost to sell. Valuation of other real estate owned is determined using current appraisals from independent parties, a level two input. If current appraisals cannot be obtained prior to reporting dates, or if declines in value are identified after a recent appraisal is received, appraisal values are discounted, resulting in Level 3 estimates. If the Company markets the property with a realtor, estimated selling costs reduce the fair value, resulting in a valuation based on Level 3 inputs. The Company markets other real estate owned and assets held for sale both independently and with local realtors. Properties marketed by realtors are discounted by selling costs. Properties that the Company markets independently are not discounted by selling costs. The Company did not have any other real estate owned as of March 31, 2023 or December 31, 2022.

Disclosures about Fair Value of

Disclosures about Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2023
Disclosures about Fair Value of Financial Instruments
Disclosures about Fair Value of Financial Instruments	N ote 8. Disclosures about Fair Value of Financial Instruments The following presents the carrying amount, fair value and placement in the fair value hierarchy of the Company’s financial instruments as of March 31, 2023 and December 31, 2022. Fair values for March 31, 2023 and December 31, 2022 are estimated under the exit price notion in accordance with the prospective adoption of ASU 2016-01, “ Recognition and Measurement of Financial Assets and Financial Liabilities. The estimated fair values, and related carrying amounts, of the Company’s financial instruments are as follows (dollars in thousands): Fair Value Measurements at March 31, 2023 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value at March 31, 2023 Assets: Cash and cash equivalents $ 31,273 $ 31,273 $ - $ - $ 31,273 Securities available for sale 388,248 - 388,248 - 388,248 Securities held to maturity 125 - 114 - 114 Loans held for sale 1,242 - 1,242 - 1,242 Loans held for investment, net 756,920 - - 737,427 737,427 Interest receivable 4,165 - 4,165 - 4,165 Bank owned life insurance 23,727 - 23,727 - 23,727 IRLC 99 - 99 - 99 Forward sales commitments 43 - 43 - 43 Total $ 1,205,842 $ 31,273 $ 417,638 $ 737,427 $ 1,186,338 Liabilities: Deposits $ 1,105,235 $ - $ 1,103,119 $ - $ 1,103,119 Short-term debt 55,000 - - 55,000 55,000 Long-term debt 6,901 - - 6,755 6,755 Interest payable 676 - 676 - 676 Total $ 1,167,812 $ - $ 1,103,795 $ 61,755 $ 1,165,550 Fair Value Measurements at December 31, 2022 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value at December 31, 2022 Assets: Cash and cash equivalents $ 34,953 $ 34,953 $ - $ - $ 34,953 Securities 392,220 - 392,220 - 392,220 Loans held for sale 1,373 - 1,373 - 1,373 Loans held for investment, net 743,604 - - 720,806 720,806 Interest receivable 3,995 - 3,995 - 3,995 Bank owned life insurance 23,554 - 23,554 - 23,554 Forward sales commitments 186 - 186 - 186 Total $ 1,199,885 $ 34,953 $ 421,328 $ 720,806 $ 1,177,087 Liabilities: Deposits $ 1,083,377 $ - $ 1,080,909 $ - $ 1,080,909 Short-term debt 70,000 - - 70,000 70,000 Long-term debt 6,890 - - 6,778 6,778 IRLC 92 - 92 - 92 Interest payable 295 - 295 - 295 Total $ 1,160,654 $ - $ 1,081,296 $ 76,778 $ 1,158,074

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2023
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss	Note 9. Accumulated Other Comprehensive Loss The following tables present components of accumulated other comprehensive loss for the periods stated (dollars in thousands). Unrealized Securities Gains (Losses) Adjustments Related to Pension Plan Accumulated Other Comprehensive Loss Balance at December 31, 2022 $ (40,452 ) $ 439 $ (40,012 ) Change in unrealized securities gains, net of tax expense of $722 2,716 - 2,716 Balance at March 31, 2023 $ (37,736 ) $ 439 $ (37,296 ) Unrealized Securities Gains (Losses) Adjustments Related to Pension Plan Accumulated Other Comprehensive Loss Balance at December 31, 2021 $ (1,801 ) $ (3,291 ) $ (5,092 ) Change in unrealized securities losses, net of tax benefit of $3,790 (14,259 ) - (14,259 ) Balance at March 31, 2022 $ (16,060 ) $ (3,291 ) $ (19,351 ) There were no reclassifications adjustments reported on the consolidated statements of income during the three months ended March 31, 2023 or 2022.

Debt

Debt	3 Months Ended
	Mar. 31, 2023
Debt
Debt	Note 10. Debt Short-term Debt The Company utilizes short-term debt such as Federal funds purchased and FHLB short-term borrowings to support loans growth and provide liquidity. Federal funds purchased are unsecured overnight borrowings from other financial institutions. FHLB short term debt, which is secured by the loan portfolio, can be a daily rate variable loan that acts as a line of credit or a fixed rate advance, depending on the need of the Company. There was $55.0 million in short-term debt at March 31, 2023 and $70.0 million short-term debt at December 31, 2022. Long-term Debt On July 29, 2020, the Company sold and issued to an institutional accredited investor $7.0 million in aggregate principal amount of 6.00% fixed to floating rate subordinated notes due July 31, 2030. The note will initially bear interest at 6.00% per annum, beginning July 29, 2020 to but excluding July 31, 2025, payable semi-annually in arrears. From and including July 31, 2025 through July 30, 2030, or up to an early redemption date, the interest rate will reset quarterly to an interest rate per annum equal to the then current three-month SOFR plus 593 basis points, payable quarterly in arrears. Beginning on July 31, 2025 through maturity, the note may be redeemed, at the Company’s option, on any scheduled interest payment date. The note will mature on July 31, 2030. The subordinated note, net of issuance costs totaled $6.9 million at March 31, 2023.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2023
Revenue Recognition
Revenue Recognition	Note 11. Revenue Recognition Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, derivatives, and certain credit card fees are also not in scope of the guidance. Topic 606 is applicable to noninterest revenue streams such as deposit related fees, interchange fees, merchant income, and annuity and insurance commissions. Substantially all of the Company’s revenue is generated from contracts with customers. Noninterest revenue streams in-scope of Topic 606 are discussed below. Service Charges on Deposit Accounts Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, check orders, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts. Investment Services and Insurance Income Investment services and insurance income primarily consists of commissions received on mutual funds and other investment sales. Commissions from the sale of mutual funds and other investments are recognized on trade date, which is when the Company has satisfied its performance obligation. Title Insurance Income VSTitle provides title insurance and real estate settlement services. Revenue is recognized at the time the real estate transaction is completed. ATM and Check Card Fees ATM and Check Card Fees are primarily comprised of debit and credit card income, ATM fees, merchant services income, and other service charges. Debit and credit card income is primarily comprised of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as Visa. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. Other Other noninterest income consists of other recurring revenue streams such as safe deposit box rental fees, and other service charges. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Company determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation. Other service charges include revenue from processing wire transfers, online payment fees, cashier’s checks, mobile banking fees and other services. The Company’s performance obligation for fees, exchange, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the three months ended March 31, 2023 and 2022 (dollars in thousands). Three Months Ended March 31 2023 2022 Noninterest Income In-scope of Topic 606: Service Charges on Deposits $ 225 $ 307 Investment Services and Insurance Income 333 251 Title Insurance Income 248 473 ATM and check card fees 627 563 Other 74 157 Noninterest Income (in-scope of Topic 606) 1,507 1,751 Noninterest Income (out-of-scope of Topic 606) 377 732 Total Noninterest Income $ 1,884 $ 2,483 Contract Balances A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances. As of March 31, 2023 and December 31, 2022, the Company did not have any significant contract balances. Contract Acquisition Costs In connection with the adoption of Topic 606, an entity is required to capitalize, and subsequently amortize into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (for example, sales commission). The Company utilizes the practical expedient which allows entities to immediately expense contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. Upon adoption of Topic 606, the Company did not capitalize any contract acquisition cost.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases
Leases	Note 12. Leases The Company adopted ASU No. 2016-02 “Leases (Topic 842)” Lease liabilities represent the Company’s obligation to make lease payments and are presented at each reporting date as the net present value of the remaining contractual cash flows. Cash flows are discounted at the Company’s incremental borrowing rate in effect at the commencement date of the lease. Right-of-use assets represent the Company’s right to use the underlying asset for the lease term and are calculated as the sum of the lease liability and if applicable, prepaid rent, initial direct costs and any incentives received from the lessor. The Company’s long-term lease agreements are classified as operating leases. Certain of these leases offer the option to extend the lease term and the Company has included such extensions in its calculation of the lease liabilities to the extent the options are reasonably assured of being exercised. The lease agreements do not provide for residual value guarantees and have no restrictions or covenants that would impact dividends or require incurring additional financial obligations. The following tables present information about the Company’s leases (dollars in thousands): March 31, 2023 Lease Liabilities $ 851 Right-of-use assets $ 837 Weighted average remaining lease term (years) 2.27 years Weighted average discount rate 3.28 % For the Three Months Ended March 31, 2023 2022 Operating lease cost $ 40 $ 153 Total lease cost $ 40 $ 153 Cash paid for amounts included in the measurement of lease liabilities $ 58 $ 181 A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of operating lease liabilities is as follows (dollars in thousands): March 31, 2023 Nine months ending December 31, 2023 $ 131 Twelve months ending December 31, 2024 166 Twelve months ending December 31, 2025 122 Twelve months ending December 31, 2026 69 Twelve months ending December 31, 2027 56 Thereafter 462 Total undiscounted cash flows $ 1,006 Discount 155 Lease liabilities $ 851

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events
Subsequent Events	Note 13. Subsequent Events On April 10, 2023, the Board of Directors of the Company appointed Aubrey Michael (Mike) Wilkerson as Chief Executive Officer of the Company and the Bank and Barton E. Black as President of the Company and the Bank, both effective April 10, 2023. Mr. Wilkerson also has been appointed to the Board of Directors of the Company and the Bank, effective April 10, 2023. Mr. Wilkerson previously served as Executive Vice President/Chief Lending Officer, and Mr. Black previously served as Executive Vice President/Chief Operating Officer of the Company and the Bank. They succeed Mark C. Hanna, whose separation from the Company and resignation as a director was effective April 10, 2023. Mr. Hanna served as President and Chief Executive Officer of the Company and the Bank. On April 26, 2023, the Board of Directors declared a first quarter dividend of $0.26 per share, payable on May 30, 2023, to stockholders of record as of May 15, 2023. On April 27, 2023 the Bank purchased property at 141 East Market Street in Harrisonburg, Virginia. This location will expand the Bank’s service offerings and customer support and accommodate future growth. The property has banking history, serving as the location of the headquarters of the former Rockingham Bank and as a branch or office location for its successors.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Summary of Significant Accounting Policies
Principles Of Consolidation	The Consolidated Financial Statements include the accounts of F&M Bank Corp. (the “Company”), Farmers & Merchants Bank (the “Bank”), TEB Life Insurance Company (“TEB”), Farmers & Merchants Financial Services, Inc. (“FMFS”), VBS Mortgage, LLC (dba “F&M Mortgage”), and VSTitle, LLC (“VST”), with all significant intercompany accounts and transactions eliminated. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (“GAAP”) and to accepted practices within the banking industry.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The material estimate that is particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses.
Reclassification	Certain reclassifications have been made to prior period amounts to conform to current period presentation. None of these reclassifications are considered material and have no impact on net income.
Nature Of Operations	The Company, through its subsidiary Farmers & Merchants Bank, operates under a charter issued by the Commonwealth of Virginia and provides commercial banking services. As a state chartered bank, the Bank is subject to regulation by the Virginia Bureau of Financial Institutions and the Board of Governors of the Federal Reserve System (the “Federal Reserve”). The Bank provides services to customers primarily in the counties of Rockingham, Shenandoah, Frederick and Augusta, and the cities of Harrisonburg, Staunton, Waynesboro and Winchester in Virginia. Services are provided at thirteen branch offices and a Dealer Finance Division. The Company offers insurance, mortgage lending, title insurance and financial services through its subsidiaries, TEB Life Insurance Company, Farmers & Merchants Financial Services, Inc., F&M Mortgage, and VSTitle, LLC.
Cash and Cash Equivalents	For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, federal funds sold, and interest-bearing deposits. Generally, federal funds are purchased and sold on an overnight basis.
Accounting Standards Adopted in 2023	On January 1, 2023, the Company adopted Accounting Standards Update (“ASU”) 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments “ASC 326”. This standard replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. CECL requires an estimate of credit losses for the remaining estimated life of the financial asset using historical experience, current conditions, and reasonable and supportable forecasts and generally applies to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities, and some off-balance sheet credit exposures such as unfunded commitments to extend credit. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. In addition, CECL made changes to the accounting for available for sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available for sale debt securities if management does not intend to sell and does not believe that it is more likely than not, they will be required to sell. The Company adopted ASC 326 and all related subsequent amendments thereto effective January 1, 2023 using the modified retrospective approach for all financial assets measured at amortized cost and off-balance sheet credit exposures. The transition adjustment of the adoption of CECL included an increase in the allowance for credit losses on loans of $777 thousand, which is presented as a reduction to net loans outstanding, and an increase in the allowance for credit losses on unfunded loan commitments of $747 thousand, which is recorded within Other Liabilities. The Company recorded a net decrease to retained earnings of $1.2 million as of January 1, 2023 for the cumulative effect of adopting CECL, which reflects the transition adjustments noted above, net of the applicable deferred tax assets recorded. Results for reporting periods beginning after January 1, 2023 are presented under CECL while prior period amounts continue to be reported in accordance with previously applicable accounting standards (“Incurred Loss”). The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to January 1, 2023. As of December 31, 2022, the Company did not have any other-than-temporarily impaired investment securities. Therefore, upon adoption of ASC 326, the Company determined that an allowance for credit losses on available for sale securities was not deemed material. The Company elected not to measure an allowance for credit losses for accrued interest receivable and instead elected to reverse interest income on loans or securities that are placed on nonaccrual status, which is generally when the instrument is 90 days past due, or earlier if the Company believes the collection of interest is doubtful. The Company has concluded that this policy results in the timely reversal of uncollectible interest.
Allowance for Credit Losses - Held to Maturity Securities	Management measures expected credit losses on held-to-maturity debt securities on a collective basis by major security type. Accrued interest receivable on held-to-maturity debt securities was immaterial at March 31, 2023 and was excluded from the estimate of credit losses. The state and local governments securities held by the Company are highly rated by major rating agencies. As a result, no allowance for credit losses was recorded on held to maturity at March 31, 2023.
Allowance for Credit Losses - Available for Sale Securities	For available for sale securities, management evaluates all investments in an unrealized loss position on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. If the Company has the intent to sell the security or it is more likely than not that the Company will be required to sell the security, the security is written down to fair value and the entire loss is recorded in earnings. If either of the above criteria is not met, the Company evaluates whether the decline in fair value is the result of credit losses or other factors. In making the assessment, the Company may consider various factors including the extent to which fair value is less than amortized cost, performance on any underlying collateral, downgrades in the ratings of the security by a rating agency, the failure of the issuer to make scheduled interest or principal payments and adverse conditions specifically related to the security. If the assessment indicates that a credit loss exists, the present value of cash flows expected to be collected are compared to the amortized cost basis of the security and any excess is recorded as an allowance for credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any amount of unrealized loss that has not been recorded through an allowance for credit loss is recognized in other comprehensive income. Changes in the allowance for credit loss are recorded as provision for (or reversal of) credit loss expense. Losses are charged against the allowance for credit loss when management believes an available for sale security is confirmed to be uncollectible or when either of the criteria regarding intent or requirement to sell is met. At March 31, 2023, there was no allowance for credit loss related to the available for sale portfolio. Accrued interest receivable on available for sale debt securities totaled $1.4 million at March 31, 2023 and was excluded from the estimate of credit losses.
Loans	Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at amortized cost. Amortized cost is the principal balance outstanding, net of discounts and deferred fees and costs. Accrued interest receivable related to loans totaled $2.7 million at March 31, 2023 and was reported in accrued interest receivable on the consolidated balance sheets. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using methods that approximate a level yield without anticipating prepayments. The accrual of interest is generally discontinued when a loan becomes 90 days past due and is not well collateralized and in the process of collection, or when management believes, after considering economic and business conditions and collection efforts, that the principal or interest will not be collectible in the normal course of business. Past due status is based on contractual terms of the loan. A loan is considered to be past due when a scheduled payment has not been received 30 days after the contractual due date. All accrued interest is reversed against interest income when a loan is placed on nonaccrual status. Interest received on such loans is accounted for using the cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, there is a sustained period of repayment performance, and future payments are reasonably assured.
Allowance for Credit Losses - Loans	The allowance for credit losses is a valuation account that is deducted from the loans' amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when management believes the uncollectibility of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Accrued interest receivable is excluded from the estimate of credit losses. The allowance for credit losses represents management’s estimate of lifetime credit losses inherent in loans as of the balance sheet date. The allowance for credit losses is estimated by management using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The Company utilizes a Qualitative Scorecard (“scorecard”) to adjust the historical loss information, as necessary, to reflect the Company’s expectations about the future. For each segment, the scorecard calculates the difference between the quantitative expected credit loss and the high watermark average remaining maturity loss rates. This difference is the maximum qualitative adjustment that can be applied to that segment. Due to the low number of losses in the Bank’s portfolio, in particular during the great financial crisis from 2008-2012, a number of pool sets will leverage peer data to calculate the overall loss rate. The Company believes that in order to provide a reasonable and supportable loss rate, data representative of losses during a financial downturn will provide a better representation of the perceived risk in the portfolio. In determining how to apply the weightings for the various qualitative factors, management assessed which factors would have the highest impact on potential loan losses. The economy and problem loan trends were determined to have the most significant effect on the estimated losses. The most influential factor on potential loan losses was the economic conditions, with a weighting of 20%-25%. The Company will evaluate the weighting applied to each pool on an annual basis. The Company measures expected credit losses for loans on a pooled basis when similar risk characteristics exist. The Company has identified the following portfolio segments and calculates the allowance for credit losses for each using a remaining life methodology: 1-4 family residential construction. Other construction, land development and land. Secured by farmland. Home equity - open end. Real estate. Home equity - closed end. Multifamily. Owner-occupied commercial real estate. Other commercial real estate. Agriculture loans. Commercial and industrial. Credit cards. Automobile loans. Other consumer loans. Municipal loans. Additionally, the allowance for credit losses calculation includes subjective adjustments for qualitative risk factors that are likely to cause estimated credit losses to differ from historical experience. These qualitative adjustments may increase or reduce reserve levels and include adjustments for lending management experience and risk tolerance, loan review and audit results, asset quality and portfolio trends, loan portfolio growth, industry concentrations, trends in underlying collateral, external factors and economic conditions not already captured. Loans that do not share risk characteristics are evaluated on an individual basis. When management determines that foreclosure is probable and the borrower is experiencing financial difficulty, the expected credit losses are based on the fair value of collateral at the reporting dated adjusted for selling costs as appropriate.
Allowance for Credit Losses - Unfunded Commitments	Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit issued to meet customer financing needs. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for off-balance sheet loan commitments is represented by the contractual amount of those instruments. Such financial instruments are recorded when they are funded. The Company records an allowance for credit losses on off-balance sheet credit exposures, unless the commitments to extend credit are unconditionally cancelable, through a charge to provision for unfunded commitments in the Company’s income statements. The allowance for credit losses on off-balance sheet credit exposures is estimated by loan segment at each balance sheet date under the current expected credit loss model using the same methodologies as portfolio loans, taking into consideration the likelihood that funding will occur as well as any third-party guarantees. The allowance for unfunded commitments is included in other liabilities on the Company’s consolidated balance sheets.
Earnings Per Share	Accounting guidance specifies the computation, presentation and disclosure requirements for earnings per share (“EPS”) for entities with publicly held common stock or potential common stock such as options, warrants, convertible securities or contingent stock agreements if those securities trade in a public market. Basic EPS is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding. Nonvested restricted shares are included in the computation of basic earnings per share as the holder is entitled to full shareholder benefits during the vesting period, including voting rights and sharing in nonforfeitable dividends.
Recent Accounting Pronouncements	Accounting Standards adopted in 2023: In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU, as amended, requires an entity to measure expected credit losses for financial assets carried at amortized cost based on historical experience, current conditions, and reasonable and supportable forecasts. Among other things, the ASU also amended the impairment model for available for sale securities and addressed purchased financial assets with deterioration. ASU 2016-13 was effective for the Company on January 1, 2023. The adjustment recorded at adoption to the overall allowance for credit losses, which consisted of adjustments to the allowance for credit losses on loans, as well as an adjustment to the Company’s reserve for unfunded loan commitments, was $1.5 million. The adjustment net of tax recorded to stockholders’ equity totaled $1.2 million. See Note 1 for additional details of adoption of this standard. In March 2022, the FASB issued Accounting Standards Update ASU No. 2022-02, “Financial Instruments-Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 addresses areas identified by the FASB as part of its post-implementation review of the credit losses standard (ASU 2016-13) that introduced the CECL model. The amendments eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted the CECL model and enhance the disclosure requirements for loan refinancings and restructurings made with borrowers experiencing financial difficulty. In addition, the amendments require a public business entity to disclose current-period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The amendments in this ASU should be applied prospectively, except for the transition method related to the recognition and measurement of TDRs, an entity has the option to apply a modified retrospective transition method, resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. ASU 2022-02 was effective for the Company on January 1, 2023. The adoption of ASU 2022-02 did not have a material impact on the Company’s consolidated financial statements. In March 2022, the FASB issued ASU No. 2022-01, “Derivatives and Hedging (Topic 815), Fair Value Hedging—Portfolio Layer Method.” ASU 2022-01 clarifies the guidance in ASC 815 on fair value hedge accounting of interest rate risk for portfolios of financial assets and is intended to better align hedge accounting with an organization’s risk management strategies. In 2017, FASB issued ASU 2017-12 to better align the economic results of risk management activities with hedge accounting. One of the major provisions of that standard was the addition of the last-of-layer hedging method. For a closed portfolio of fixed-rate prepayable financial assets or one or more beneficial interests secured by a portfolio of prepayable financial instruments, such as mortgages or mortgage-backed securities, the last-of-layer method allows an entity to hedge its exposure to fair value changes due to changes in interest rates for a portion of the portfolio that is not expected to be affected by prepayments, defaults, and other events affecting the timing and amount of cash flows. ASU 2022-01 renames that method the portfolio layer method. For public business entities, ASU 2022-01 is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The adoption of ASU 2022-01 did not have a material impact on the Company’s consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”. The ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The ASU is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2022. Entities should apply the amendments prospectively and early adoption is permitted. The adoption of ASU 2021-08 did not have a material impact on the Company’s consolidated financial statements. Accounting Standards Pending Adoption: In March 2023, the FASB issued ASU No. 2023-02, “Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method”. These amendments allow reporting entities to elect to account for qualifying tax equity investments using the proportional amortization method, regardless of the program giving rise to the related income tax credits. The ASU is effective for public business entities for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted for all entities in any interim period. The Company does not expect the adoption of ASU 2023-02 to have a material impact on its consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” These amendments provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued. It is intended to help stakeholders during the global market-wide reference rate transition period. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022. Subsequently, in January 2021, the FASB issued ASU No. 2021-01 “Reference Rate Reform (Topic 848): Scope.” This ASU clarifies that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The ASU also amends the expedients and exceptions in Topic 848 to capture the incremental consequences of the scope clarification and to tailor the existing guidance to derivative instruments affected by the discounting transition. An entity may elect to apply ASU No. 2021-01 on contract modifications that change the interest rate used for margining, discounting, or contract price alignment retrospectively as of any date from the beginning of the interim period that includes March 12, 2020, or prospectively to new modifications from any date within the interim period that includes or is subsequent to January 7, 2021, up to the date that financial statements are available to be issued. An entity may elect to apply ASU No. 2021-01 to eligible hedging relationships existing as of the beginning of the interim period that includes March 12, 2020, and to new eligible hedging relationships entered into after the beginning of the interim period that includes March 12, 2020. The Company transitioned all loan agreements, other than SWAP loans, away from LIBOR during 2022. The SWAP loans have amended Rate Protection Agreements executed by the borrower in preparation of transition away from LIBOR by the swap holder. In March 2023, the FASB issued ASU No. 2023-01, “Leases (Topic 842): Common Control Arrangements”. These amendments require entities to amortize leasehold improvements associated with common control leases over the useful life to the common control group. The ASU is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. If an entity adopts the amendments in an interim period, it must adopt them as of the beginning of the fiscal year that includes that interim period. Transition can be done either retrospectively or prospectively. The Company does not expect the adoption of ASU 2023-01 to have a material impact on its consolidated financial statements. In December 2022, the FASB issued ASU No. 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848”. ASU 2022-06 extends the period of time preparers can utilize the reference rate reform relief guidance in Topic 848. The objective of the guidance in Topic 848 is to provide relief during the temporary transition period, so the FASB included a sunset provision within Topic 848 based on expectations of when the LIBOR would cease being published. In 2021, the UK Financial Conduct Authority delayed the intended cessation date of certain tenors of U.S. dollar LIBOR to June 30, 2023. To ensure the relief in Topic 848 covers the period of time during which a significant number of modifications may take place, the ASU defers the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The ASU is effective for all entities upon issuance. The Company transitioned all loan agreements, other than SWAP loans, away from LIBOR during 2022. The SWAP loans have amended Rate Protection Agreements executed by the borrower in preparation of transition away from LIBOR by the swap holder. In June 2022, the FASB issued ASU No. 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions”. ASU 2022-03 clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The ASU is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company does not expect the adoption of ASU 2022-03 to have a material impact on its consolidated financial statements. Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material effect on the Company’s financial position, result of operations or cash flows.

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Investment Securities
Schedule Of Amortized Cost And Fair Value For Securities	Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value March 31, 2023 U. S. Treasury $ 125 $ - $ 11 $ 114 December 31, 2022 U. S. Treasury $ 125 $ - $ 13 $ 112
Schedule Of Amortized Cost And Fair Value Of Securities Current	Amortized Cost Unrealized Gains Unrealized Losses Fair Value March 31, 2023 U.S. Treasury $ 39,908 $ - $ 2,706 $ 37,202 U.S. Agency 143,477 - 11,978 131,499 Municipal bonds 42,463 93 3,577 38,979 Mortgage-backed securities 179,715 109 25,180 154,644 Corporate 30,550 1 4,627 25,924 Total Securities Available for Sale $ 436,113 $ 203 $ 48,068 $ 388,248 Amortized Cost Unrealized Gains Unrealized Losses Fair Value December 31, 2022 U.S. Treasury $ 39,902 $ - $ 3,259 $ 36,643 U.S. Agency 143,473 - 13,725 129,748 Municipal bonds 46,331 27 4,160 42,198 Mortgage-backed securities 183,044 77 26,246 156,875 Corporate 30,550 - 3,919 26,631 Total Securities Available for Sale $ 443,300 $ 104 $ 51,309 $ 392,095
Schedule Amortized Cost And Fair Value Of Securities, Maturity	Securities Held to Maturity Securities Available for Sale Amortized Fair Amortized Fair Cost Value Cost Value Due in one year or less $ 125 $ 114 $ 21,010 $ 20,412 Due after one year through five years - - 187,096 172,416 Due after five years - - 78,775 67,580 Due after ten years - - 149,232 127,840 Total $ 125 $ 114 $ 436,113 $ 388,248
Schedule Of Unrealized Losses	Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2023 U.S. Treasury $ 4,868 $ 134 $ 32,335 $ 2,572 $ 37,203 $ 2,706 U.S. Agency 4,762 238 126,737 11,740 131,499 11,978 Municipal bonds 2,421 179 30,935 3,398 33,356 3,577 Mortgage-backed securities 2,657 61 147,904 25,119 150,561 25,180 Corporate 7,829 1,121 18,094 3,506 25,923 4,627 Total $ 22,537 $ 1,733 $ 356,005 $ 46,335 $ 378,542 $ 48,068 Less than 12 Months More than 12 Months Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2022 U.S. Treasury $ 9,657 $ 362 $ 26,987 $ 2,897 $ 36,644 $ 3,259 U.S. Agency 13,914 1,083 115,835 12,642 129,749 13,725 Municipal bonds 21,805 1,426 18,710 2,734 40,515 4,160 Mortgage-backed securities 32,823 2,429 119,892 23,817 152,715 26,246 Corporate 16,252 2,198 10,379 1,721 26,631 3,919 Total $ 94,451 $ 7,498 $ 291,803 $ 43,811 $ 386,254 $ 51,309

Loans and Allowance for Credi_2

Loans and Allowance for Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2023
Loans and Allowance for Credit Losses
Schedule Of Loans Outstanding	March 31, 2023 1-4 Family residential construction $ 28,774 Other construction, land development and land 40,472 Secured by farmland 74,322 Home equity – open end 46,434 Real estate 161,022 Home Equity – closed end 4,563 Multifamily 10,042 Owner-occupied commercial real estate 91,595 Other commercial real estate 103,392 Agricultural loans 11,849 Commercial and industrial 45,307 Credit Cards 3,256 Automobile loans 114,549 Other consumer loans 15,681 Municipal loans 6,248 Gross loans 757,506 Unamortized net deferred loan fees (586 ) Less allowance for credit losses 8,546 Net loans $ 748,374 December 31, 2022 Construction/Land Development $ 68,671 Farmland 74,322 Real Estate 153,281 Multi-Family 9,622 Commercial Real Estate 195,163 Home Equity – closed end 4,707 Home Equity – open end 46,928 Commercial & Industrial – Non-Real Estate 56,625 Consumer 6,488 Dealer Finance 125,125 Credit Cards 3,242 Gross loans 744,174 Unamortized net deferred loan fees (570 ) Less allowance for credit losses 7,936 Net loans $ 735,668
Summary Of Nonaccrual and Past Due Loans	Accruing Loans 30-59 Days Past due Accruing Loans 60-89 Days Past due Accruing Loans 90 Days or More Past due Nonaccrual Loans Accruing Current Loans Total Loans March 31, 2023 1-4 Family residential construction $ 589 $ - $ - $ - $ 28,185 $ 28,774 Other construction, land development and land - - - 33 40,439 40,472 Secured by farmland - - - 984 73,338 74,322 Home equity – open end 204 331 - 24 45,875 46,434 Real estate 1,880 - - 421 158,721 161,022 Home Equity – closed end - - - - 4,563 4,563 Multifamily - - - - 10,042 10,042 Owner-occupied commercial real estate 171 - - - 91,424 91,595 Other commercial real estate 71 - - - 103,321 103,392 Agricultural loans - - - 88 11,761 11,849 Commercial and industrial 7 93 30 - 45,177 45,307 Credit Cards 25 4 9 - 3,218 3,256 Automobile loans 808 251 - 193 113,297 114,549 Other consumer loans 67 13 - - 15,601 15,681 Municipal loans - - - - 6,248 6,248 Gross loans 3,822 692 39 1,743 751,210 757,506 Less: Unamortized net deferred loan fees - - - - (586 ) (586 ) Loans held for investment $ 3,822 $ 692 $ 39 $ 1,743 $ 750,654 $ 756,920 Accruing Loans 30-59 Days Past due Accruing Loans 60-89 Days Past due Accruing Loans 90 Days or More Past Due Nonaccrual Loans Accruing Current Loans Total Loans December 31, 2022 Construction/Land Development $ 477 $ 539 $ - $ 21 $ 67,634 $ 68,671 Farmland 85 18 - 1,458 72,761 74,322 Real Estate 1,807 226 - 419 150,829 153,281 Multi-Family - - - - 9,622 9,622 Commercial Real Estate 234 82 - - 194,847 195,163 Home Equity – closed end 3 - - - 4,704 4,707 Home Equity – open end 385 177 - - 46,366 46,928 Commercial & Industrial – Non- Real Estate 104 - 31 101 56,389 56,625 Consumer 11 11 - 15 6,451 6,488 Dealer Finance 1,117 225 5 210 123,568 125,125 Credit Cards 51 9 2 - 3,180 3,242 Less: Unamortized net deferred loan fees - - - - (570 ) (570 ) Loans held for investment $ 4,274 $ 1,287 $ 38 $ 2,224 $ 735,781 $ 743,604
Summary Of nonaccrual loans by major categories	CECL Incurred Loss March 31, 2023 December 31, 2022 Nonaccrual loans with No Allowance Nonaccrual Loans with an Allowance Total Nonaccrual Loans Nonaccrual Loans 1-4 Family residential construction $ - $ - $ - $ - Other construction, land development and land 33 - 33 21 Secured by farmland 984 - 984 1,458 Home equity – open end 24 - 24 - Real estate 421 - 421 419 Home Equity – closed end - - - - Multifamily - - - - Owner-occupied commercial real estate - - - - Other commercial real estate - - - - Agricultural loans 88 - 88 88 Commercial and industrial - - - 13 Credit Cards - - - - Automobile loans 193 - 193 210 Other consumer loans - - - 15 Municipal loans - - - - Total loans $ 1,743 $ - $ 1,743 $ 2,224
Summary Of accrued interest receivables	For the Three Months Ended March 31, 2023 1-4 Family residential construction $ - Other construction, land development and land - Secured by farmland - Home equity – open end - Real estate - Home Equity – closed end - Multifamily - Owner-occupied commercial real estate - Other commercial real estate - Agricultural loans - Commercial and industrial - Credit Cards - Automobile loans 2 Other consumer loans - Municipal loans - Total loans $ 2
Schedule Of Credit Quality Indicators	Term Loans by Year of Origination 2023 2022 2021 2020 2019 Prior Revolving Total 1-4 Family residential construction Pass $ - $ - $ - $ - $ - $ - $ 27,443 $ 27,443 Watch 642 - - - - - 250 892 Substandard - - - - - - 439 439 Total 1-4 Family residential construction 642 - - - - - 28,132 28,774 Current period gross write-offs - - - - - - - - Other construction, land development and land Pass 3,375 5,312 6,194 1,917 3,006 5,823 13,853 39,480 Watch - - - - - 268 170 438 Substandard - 521 - - - 33 - 554 Total Other construction, land development and land 3,375 5,833 6,194 1,917 3,006 6,124 14,023 40,472 Current period gross write-offs - - - - - - - - Secured by farmland Pass 890 13,597 14,991 28,307 3,387 7,090 4,157 72,419 Watch - - - - - 919 - 919 Substandard - - 315 - - 652 17 984 Total Secured by farmland 890 13,597 15,306 28,307 3,387 8,661 4,174 74,322 Current period gross write-offs - - - - - - - - Home equity – open end Pass 370 - - - - 144 44,321 44,835 Watch - - - - - - 1,525 1,525 Substandard - - - - - - 74 74 Total Home equity - open end 370 - - - - 144 45,920 46,434 Current period gross write-offs - - - - - - - - Real estate Pass 12,125 43,827 15,316 12,515 6,850 59,446 - 150,079 Watch - - - 507 156 6,217 - 6,880 Substandard - - 547 - 1,233 2,283 - 4,063 Total Real estate 12,125 43,827 15,863 13,022 8,239 67,946 - 161,022 Current period gross write-offs - - - - - - - - Home Equity – closed end Pass 134 408 127 1,148 507 1,848 - 4,172 Watch - - - - - 378 - 378 Substandard - - - - 13 - - 13 Total Home Equity - closed end 134 408 127 1,148 520 2,226 - 4,563 Current period gross write-offs - - - - - - - - Multifamily Pass - 2,765 1,449 935 - 1,640 3,145 9,934 Watch - - - - - 108 - 108 Substandard - - - - - - - - Total Multifamily - 2,765 1,449 935 - 1,748 3,145 10,042 Current period gross write-offs - - - - - - - - Owner-occupied commercial real estate Pass 1,228 18,761 18,693 7,405 3,720 24,781 6,921 81,509 Watch - - - - 41 2,135 - 2,176 Substandard - - - - 6,398 1,214 298 7,910 Total Owner-occupied commercial real estate 1,228 18,761 18,693 7,405 10,159 28,130 7,219 91,595 Current period gross write-offs - - - - - - - - Other commercial real estate Pass 2,642 31,221 13,182 5,194 3,942 36,496 1,840 94,517 Watch - - - - - 8,539 249 8,788 Substandard - - - - - 87 - 87 Total Other commercial real estate 2,642 31,221 13,182 5,194 3,942 45,122 2,089 103,392 Current period gross write-offs - - - - - - - - Term Loans by Year of Origination 2023 2022 2021 2020 2019 Prior Revolving Total Agricultural loans Pass 914 3,595 678 653 13 103 5,641 11,597 Watch - - - - - - - - Substandard - 62 44 11 - - 135 252 Total Agricultural loans 914 3,657 722 664 13 103 5,776 11,849 Current period gross write-offs - - - - - - - - Commercial and industrial Pass 2,450 10,002 5,386 2,409 1,098 774 19,860 41,979 Watch - - 66 - - 2 3,212 3,280 Substandard - - 14 30 - 4 - 48 Total 1-4 Commercial and industrial 2,450 10,002 5,466 2,439 1,098 780 23,072 45,307 Current period gross write-offs - - - - - - - - Credit Cards Pass - - - - - - 3,247 3,247 Watch - - - - - - - - Substandard - - - - - - 9 9 Total Credit cards - - - - - - 3,256 3,256 Current period gross write-offs - - - - - - 5 5 Automobile loans Pass 17,288 50,785 27,514 11,900 4,271 2,064 - 113,822 Watch - 151 165 76 55 72 - 519 Substandard - 79 93 17 6 13 - 208 Total Automobile loans 17,288 51,015 27,772 11,993 4,332 2,149 - 114,549 Current period gross write-offs - 103 177 68 2 12 - 362 Other consumer loans Pass 2,124 7,365 3,531 1,573 618 132 307 15,650 Watch - 14 5 1 5 6 - 31 Substandard - - - - - - - - Total Other consumer loans 2,124 7,379 3,536 1,574 623 138 307 15,681 Current period gross write-offs - 16 - 1 1 - - 18 Municipal loans Pass - 236 1,070 1,158 1,285 2,499 - 6,248 Watch - - - - - - - - Substandard - - - - - - - - Total Municipal loans - 236 1,070 1,158 1,285 2,499 - 6,248 Current period gross write-offs - - - - - - - - Total loans 44,182 188,701 109,380 75,756 36,604 165,770 137,113 757,506 Less: Unamortized net deferred loan fees (586 ) Loans held for investment 756,920 Current period gross write-offs - 119 177 68 3 12 5 385
Summary Of internal loan grade	December 31, 2022 Grade 1 Minimal Risk Grade 2 Modest Risk Grade 3 Average Risk Grade 4 Acceptable Risk Grade 5 Marginally Acceptable Grade 6 Watch Grade 7 Substandard Grade 8 Doubtful Total Construction/Land Development $ - $ 4 $ 11,112 $ 42,684 $ 13,116 $ 1,213 $ 542 $ - $ 68,671 Farmland 155 269 11,373 38,051 22,069 947 1,458 - 74,322 Real Estate - 553 27,003 86,269 28,560 6,950 3,946 - 153,281 Multi-Family - - 963 5,116 3,430 113 - - 9,622 Commercial Real Estate - 3,097 55,662 72,779 41,749 13,878 7,998 - 195,163 Home Equity – closed end - 48 1,065 2,560 639 382 13 - 4,707 Home Equity – open end 27 1,272 18,671 23,207 2,091 1,611 49 - 46,928 Commercial & Industrial - Non-Real Estate 10 516 12,934 26,310 15,613 911 331 - 56,625 Consumer (excluding dealer) 33 286 2,965 3,105 68 16 15 - 6,488 Gross loans $ 225 $ 6,045 $ 141,748 $ 300,081 $ 127,335 $ 26,021 $ 14,352 $ - $ 615,807 Less: Unamortized net deferred loan fees (570 ) Total $ 615,237 Credit Cards Dealer Finance Performing $ 3,240 $ 124,910 Nonperforming 2 215 Total $ 3,242 $ 125,125
Summary Of analysis of collateral-dependent loans	March 31, 2023 Real Estate Business/Other Assets 1-4 Family residential construction $ - $ - Other construction, land development and land 520 - Secured by farmland - - Home equity – open end - - Real estate - - Home Equity – closed end - - Multifamily - - Owner-occupied commercial real estate - - Other commercial real estate - - Agricultural loans - - Commercial and industrial - - Credit Cards - - Automobile loans - - Other consumer loans - - Municipal loans - - Total loans $ 520 $ -
Summary Of Allowance for Credit Losses	December 31, 2022 Adjustment for adoption of ASU 2016-13 Charge-offs Recoveries Provision for credit losses March 31, 2023 1-4 Family residential construction $ 324 $ 109 $ - $ - $ - $ 433 Other construction, land development and land 694 602 - - - 1,296 Secured by farmland 571 311 - - - 882 Home equity – open end 446 (189 ) - - - 257 Real estate 1,389 (184 ) - - - 1,205 Home Equity – closed end 39 96 - - - 135 Multifamily 71 182 - - - 253 Owner-occupied commercial real estate 992 280 - - - 1,272 Other commercial real estate 1,023 (582 ) - - - 441 Agricultural loans 80 (58 ) - - - 22 Commercial and industrial 368 338 - 1 - 707 Credit Cards 68 26 5 1 - 90 Automobile loans 1,790 (257 ) 362 210 - 1,381 Other consumer loans 81 103 18 6 - 172 Municipal loans - - - - - - Total loans $ 7,936 $ 777 $ 385 $ 218 $ - $ 8,546 March 31, 2022 Beginning Balance Charge-offs Recoveries Provision Ending Balance Individually Evaluated for Impairment Collectively Evaluated for Impairment Allowance for loan losses: Construction/Land Development $ 977 $ - $ - $ (275 ) $ 702 $ - $ 702 Farmland 448 - - 4 452 - 452 Real Estate 1,162 - - 2 1,164 113 1,051 Multi-Family 29 - - 6 35 - 35 Commercial Real Estate 2,205 - - (112 ) 2,093 456 1,637 Home Equity – closed end 41 - - (2 ) 39 - 39 Home Equity – open end 407 - 129 (162 ) 374 - 374 Commercial & Industrial – Non-Real Estate 288 1 30 (7 ) 310 - 310 Consumer 520 21 11 13 523 - 523 Dealer Finance 1,601 204 152 85 1,634 13 1,621 Credit Cards 70 12 7 (2 ) 63 - 63 Total $ 7,748 $ 238 $ 329 $ (450 ) $ 7,389 $ 582 $ 6,807
Summary Of segregated loan portfolio segment	March 31, 2023 Loan Balances Allowance for Credit Losses - Loans Loans Individually Evaluated Loans Collectively Evaluated Total Loans Individually Evaluated Loans Collectively Evaluated Total 1-4 Family residential construction $ - $ 28,774 $ 28,774 $ - $ 433 $ 433 Other construction, land development and land 520 39,952 40,472 228 1,068 1,296 Secured by farmland - 74,322 74,322 - 882 882 Home equity – open end - 46,434 46,434 - 257 257 Real estate - 161,022 161,022 - 1,205 1,205 Home Equity – closed end - 4,563 4,563 - 135 135 Multifamily - 10,042 10,042 - 253 253 Owner-occupied commercial real estate - 91,595 91,595 - 1,272 1,272 Other commercial real estate - 103,392 103,392 - 441 441 Agricultural loans - 11,849 11,849 - 22 22 Commercial and industrial - 45,307 45,307 - 707 707 Credit Cards - 3,256 3,256 - 90 90 Automobile loans - 114,549 114,549 - 1,381 1,381 Other consumer loans - 15,681 15,681 - 172 172 Municipal loans - 6,248 6,248 - - - Total loans $ 520 $ 756,986 $ 757,506 $ 228 $ 8,318 $ 8,546 December 31, 2022 Loan Receivable Individually Evaluated for Impairment Collectively Evaluated for Impairment Construction/Land Development $ 68,671 $ 853 $ 67,818 Farmland 74,322 2,079 72,243 Real Estate 153,281 3,260 150,021 Multi-Family 9,622 - 9,622 Commercial Real Estate 195,163 9,111 186,052 Home Equity – closed end 4,707 - 4,707 Home Equity –open end 46,928 - 46,928 Commercial & Industrial – Non-Real Estate 56,625 - 56,625 Consumer 6,488 - 6,488 Dealer Finance 125,125 62 125,063 Credit Cards 3,242 - 3,242 Gross Loans 744,174 15,365 728,809 Less: Unamortized net deferred loan fees (570 ) - (570 ) Total $ 743,604 $ 15,365 $ 728,239
Summary Of impairment class of loans	December 31, 2022 Unpaid Average Recorded Principal Related Recorded Investment(1) Balance Allowance Investment Impaired loans with no related allowance recorded: Construction/Land Development $ 332 $ 332 $ - $ 474 Farmland 2,535 2,079 - 2,137 Real Estate 1,882 1,882 - 2,107 Multi-Family - - - - Commercial Real Estate 8,131 8,131 - 8,851 Home Equity – closed end - - - - Home Equity – open end - - - - Commercial & Industrial – Non-Real Estate - - - - Consumer - - - - Credit cards - - - - Dealer Finance 7 7 - 11 12,887 12,431 - 13,580 Impaired loans with an allowance recorded: Construction/Land Development 521 521 228 261 Farmland - - - - Real Estate 1,378 1,378 92 1,466 Multi-Family - - - - Commercial Real Estate 980 980 11 1,935 Home Equity – closed end - - - - Home Equity – open end - - - - Commercial & Industrial – Non-Real Estate - - - - Consumer - - - - Credit cards - - - - Dealer Finance 55 55 13 62 2,934 2,934 344 3,724 Total impaired loans $ 15,821 $ 15,365 $ 344 $ 17,304 March 31, 2022 Average Recorded Interest Income Investment Recognized Impaired loans with no related allowance recorded: Construction/Land Development $ 641 $ 6 Farmland 2,251 70 Real Estate 2,566 33 Multi-Family - - Commercial Real Estate 9,763 186 Home Equity – closed end 74 - Home Equity – open end - - Commercial & Industrial – Non-Real Estate - - Consumer 3 - Credit Cards - - Dealer Finance 14 - 15,312 295 Impaired loans with an allowance recorded: Construction/Land Development $ - $ - Farmland - - Real Estate 1,334 16 Multi-Family - - Commercial Real Estate 4,624 42 Home Equity – closed end - - Home Equity – open end - - Commercial & Industrial – Non-Real Estate - - Consumer - - Credit Card - - Dealer Finance 75 1 6,033 59 Total Impaired Loans $ 21,345 $ 354
Schedule Of modified to borrowers experiencing	Payment Status (Amortized Cost Basis) Current 30-89 Days Past Due 90+ Days Past Due 1-4 Family residential construction $ - $ - $ - Other construction, land development and land - - - Secured by farmland - - - Home equity – open end - - - Real estate 180 - - Home Equity – closed end - - - Multifamily - - - Owner-occupied commercial real estate - - - Other commercial real estate - - - Agricultural loans - - - Commercial and industrial - - - Credit Cards - - - Automobile loans 23 - - Other consumer loans - - - Municipal loans - - - Total loans $ 203 $ - $ -
Schedule Of TDRS modified to borrowers experiencing	December 31, 2022 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Extended maturity 3 $ 44 $ 44 Change in terms 1 162 162 Total 4 $ 206 $ 206
Summary Of balance and activity in the allowance for credit losses	Total Allowance for Credit Losses – Unfunded Commitments Balance, December 31, 2022 $ - Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13 747 Provision for unfunded commitments - Balance, March 31, 2023 $ 747

Employee Benefit Plan (Tables)

Employee Benefit Plan (Tables)	3 Months Ended
	Mar. 31, 2023
Employee Benefit Plan
Schedule Of Employee Benefit Plan	Three Months Ended March 31, 2023 March 31, 2022 Service cost $ - $ 190 Interest cost 92 104 Expected return on plan assets (130 ) (195 ) Amortization of net loss - 58 Net periodic pension cost $ (38 ) $ 157

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value
Schedule Of Assets And Liabilities At Fair Value On Recurring Basis	Fair Value Measurements Using: Balance at March 31, 2023 Level 1 Level 2 Level 3 Assets: Loans held for sale, F&M Mortgage $ 1,242 $ - $ 1,242 $ - U.S. Treasury 37,202 - 37,202 - U.S. Agency 131,499 - 131,499 - Municipal bonds 38,979 - 38,979 - Mortgage-backed securities 154,644 - 154,644 - Corporate 25,924 - 25,924 - IRLC 99 - 99 - Forward Sales Commitments 43 - 43 - Assets at Fair Value $ 389,632 $ - $ 389,632 $ - Fair Value Measurements Using: Balance at December 31, 2022 Level 1 Level 2 Level 3 Assets: Loans held for sale, F&M Mortgage $ 1,373 $ - $ 1,373 $ - U.S. Treasury 36,643 - 36,643 - U.S. Agency 129,748 - 129,748 - Municipal bonds 42,198 - 42,198 - Mortgage-backed securities 156,875 - 156,875 - Corporate 26,631 - 26,631 - Forward sales commitments 186 - 186 - Assets at Fair Value $ 393,654 $ - $ 393,654 $ - Liabilities: IRLC $ 92 $ - $ 92 $ - Liabilities at Fair Value $ 92 $ - $ 92 $ -
Summarizes Measured At Fair Value On A Nonrecurring Basis	Fair Value Measurements Using: Collateral dependent loans with an ACL Balance at March 31, 2023 Level 1 Level 2 Level 3 Other construction, land development and land $ 292 $ - $ - $ 292 Total collateral dependent loans with an ACL $ 292 $ - $ - $ 292 Fair Value Measurements Using: Impaired Loans Balance at December 31, 2022 Level 1 Level 2 Level 3 Construction/Land Development $ 293 $ - $ - $ 293 Real Estate 1,286 - - 1,286 Commercial Real Estate 969 - - 969 Dealer Finance 42 - - 42 Total Impaired loans $ 2,590 $ - $ - $ 2,590
Schedule Fair Value Measurements Level 3	Fair Value at March 31, 2023 Valuation Technique Significant Unobservable Inputs Range Collateral Dependent Loans $ 292 thousand Discounted appraised value Discount for selling costs and marketability 62% Fair Value at December 31, 2022 Valuation Technique Significant Unobservable Inputs Range Impaired Loans $ 2,590 thousand Discounted appraised value Discount for selling costs and marketability 10.00%-33.00% (Average 19.00%)

Disclosures About Fair Value _2

Disclosures About Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Disclosures about Fair Value of Financial Instruments
Schedule Of Carrying Value And Estimated Fair Value For Financial Instruments	Fair Value Measurements at March 31, 2023 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value at March 31, 2023 Assets: Cash and cash equivalents $ 31,273 $ 31,273 $ - $ - $ 31,273 Securities available for sale 388,248 - 388,248 - 388,248 Securities held to maturity 125 - 114 - 114 Loans held for sale 1,242 - 1,242 - 1,242 Loans held for investment, net 756,920 - - 737,427 737,427 Interest receivable 4,165 - 4,165 - 4,165 Bank owned life insurance 23,727 - 23,727 - 23,727 IRLC 99 - 99 - 99 Forward sales commitments 43 - 43 - 43 Total $ 1,205,842 $ 31,273 $ 417,638 $ 737,427 $ 1,186,338 Liabilities: Deposits $ 1,105,235 $ - $ 1,103,119 $ - $ 1,103,119 Short-term debt 55,000 - - 55,000 55,000 Long-term debt 6,901 - - 6,755 6,755 Interest payable 676 - 676 - 676 Total $ 1,167,812 $ - $ 1,103,795 $ 61,755 $ 1,165,550 Fair Value Measurements at December 31, 2022 Using Carrying Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value at December 31, 2022 Assets: Cash and cash equivalents $ 34,953 $ 34,953 $ - $ - $ 34,953 Securities 392,220 - 392,220 - 392,220 Loans held for sale 1,373 - 1,373 - 1,373 Loans held for investment, net 743,604 - - 720,806 720,806 Interest receivable 3,995 - 3,995 - 3,995 Bank owned life insurance 23,554 - 23,554 - 23,554 Forward sales commitments 186 - 186 - 186 Total $ 1,199,885 $ 34,953 $ 421,328 $ 720,806 $ 1,177,087 Liabilities: Deposits $ 1,083,377 $ - $ 1,080,909 $ - $ 1,080,909 Short-term debt 70,000 - - 70,000 70,000 Long-term debt 6,890 - - 6,778 6,778 IRLC 92 - 92 - 92 Interest payable 295 - 295 - 295 Total $ 1,160,654 $ - $ 1,081,296 $ 76,778 $ 1,158,074

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2023
Accumulated Other Comprehensive Loss
Schedule Of Accumulated Other Comprehensive Loss	Unrealized Securities Gains (Losses) Adjustments Related to Pension Plan Accumulated Other Comprehensive Loss Balance at December 31, 2022 $ (40,452 ) $ 439 $ (40,012 ) Change in unrealized securities gains, net of tax expense of $722 2,716 - 2,716 Balance at March 31, 2023 $ (37,736 ) $ 439 $ (37,296 ) Unrealized Securities Gains (Losses) Adjustments Related to Pension Plan Accumulated Other Comprehensive Loss Balance at December 31, 2021 $ (1,801 ) $ (3,291 ) $ (5,092 ) Change in unrealized securities losses, net of tax benefit of $3,790 (14,259 ) - (14,259 ) Balance at March 31, 2022 $ (16,060 ) $ (3,291 ) $ (19,351 )

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue Recognition
Summary Of Noninterest Income, Segregated By Revenue Streams	Three Months Ended March 31 2023 2022 Noninterest Income In-scope of Topic 606: Service Charges on Deposits $ 225 $ 307 Investment Services and Insurance Income 333 251 Title Insurance Income 248 473 ATM and check card fees 627 563 Other 74 157 Noninterest Income (in-scope of Topic 606) 1,507 1,751 Noninterest Income (out-of-scope of Topic 606) 377 732 Total Noninterest Income $ 1,884 $ 2,483

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases
Schedule Of Leases	March 31, 2023 Lease Liabilities $ 851 Right-of-use assets $ 837 Weighted average remaining lease term (years) 2.27 years Weighted average discount rate 3.28 %
Schedule Of Operating Lease Liabilitiesv And Measurement	For the Three Months Ended March 31, 2023 2022 Operating lease cost $ 40 $ 153 Total lease cost $ 40 $ 153 Cash paid for amounts included in the measurement of lease liabilities $ 58 $ 181
Schedule Of Operating Lease Liabilities And Reconciliation	March 31, 2023 Nine months ending December 31, 2023 $ 131 Twelve months ending December 31, 2024 166 Twelve months ending December 31, 2025 122 Twelve months ending December 31, 2026 69 Twelve months ending December 31, 2027 56 Thereafter 462 Total undiscounted cash flows $ 1,006 Discount 155 Lease liabilities $ 851

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Jan. 31, 2023
Summary of Significant Accounting Policies
Increase in the allowance for credit losses on loans	$ 777
Net decrease to retained earnings		$ 1,200
Accrued interest receivable on available for sale debt securities	1,400
Accrued interest receivable related to loans	$ 2,700

Investment Securities (Details)

Investment Securities (Details) - U S Treasuries [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Amortized cost	$ 125,000	$ 125,000
Gross unrealized Gains	0	0
Gross unrealized Losses	11	13
Fair value	$ 114	$ 112

Investment Securities (Details

Investment Securities (Details 1) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Amortized Cost	$ 436,113	$ 443,300
Unrealized Gains	203	104
Unrealized Losses	48,068	51,309
Fair Value	388,248	392,095
U S Treasuries [Member]
Amortized Cost	39,908	39,902
Unrealized Gains	0	0
Unrealized Losses	2,706	3,259
Fair Value	37,202	36,643
U.S. Agency [Member]
Amortized Cost	143,477	143,473
Unrealized Gains	0	0
Unrealized Losses	11,978	13,725
Fair Value	131,499	129,748
Municipal bonds [Member]
Amortized Cost	42,463	46,331
Unrealized Gains	93	27
Unrealized Losses	3,577	4,160
Fair Value	38,979	42,198
Mortgage-backed securities [Member]
Amortized Cost	179,715	183,044
Unrealized Gains	109	77
Unrealized Losses	25,180	26,246
Fair Value	154,644	156,875
Corporate [Member]
Amortized Cost	30,550	30,550
Unrealized Gains	1	0
Unrealized Losses	4,627	3,919
Fair Value	$ 25,924	$ 26,631

Investment Securities (Detail_2

Investment Securities (Details 2) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Total, Amortized Cost	$ 125	$ 125
Securities Held to Maturity [Member]
Due in one year or less, Amortized Cost	125
Due in one year or less, Fair Value	114
Due after one year through five years, Amortized Cost	0
Due after one year through five years, Fair Value	0
Due after five years, Amortized Cost	0
Due after five years, Fair Value	0
Due After Ten Years, Amortized Cost	0
Due After Ten Years, Fair Value	0
Total, Amortized Cost	125
Total Fair Value	114
Securities Available for Sale [Member]
Due in one year or less, Amortized Cost	21,010
Due in one year or less, Fair Value	20,412
Due after one year through five years, Amortized Cost	187,096
Due after one year through five years, Fair Value	172,416
Due after five years, Amortized Cost	78,775
Due after five years, Fair Value	67,580
Due After Ten Years, Amortized Cost	149,232
Due After Ten Years, Fair Value	127,840
Total, Amortized Cost	436,113
Total Fair Value	$ 388,248

Investment Securities (Detail_3

Investment Securities (Details 3) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value Less Than 12 Months	$ 22,537	$ 94,451
Unrealized Losses Less Than 12 Months	1,733	7,498
Fair Value More Than 12 Months	356,005	291,803
Unrealized Losses More Than 12 Months	46,335	43,811
Fair Value Total	378,542	386,254
Unrealized Losses Total	48,068	51,309
U.S. Agency [Member]
Fair Value Less Than 12 Months	4,762	13,914
Unrealized Losses Less Than 12 Months	238	1,083
Fair Value More Than 12 Months	126,737	115,835
Unrealized Losses More Than 12 Months	11,740	12,642
Fair Value Total	131,499	129,749
Unrealized Losses Total	11,978	13,725
Municipal bonds [Member]
Fair Value Less Than 12 Months	2,421	21,805
Unrealized Losses Less Than 12 Months	179	1,426
Fair Value More Than 12 Months	30,935	18,710
Unrealized Losses More Than 12 Months	3,398	2,734
Fair Value Total	33,356	40,515
Unrealized Losses Total	3,577	4,160
Mortgage-backed securities [Member]
Fair Value Less Than 12 Months	2,657	32,823
Unrealized Losses Less Than 12 Months	61	2,429
Fair Value More Than 12 Months	147,904	119,892
Unrealized Losses More Than 12 Months	25,119	23,817
Fair Value Total	150,561	152,715
Unrealized Losses Total	25,180	26,246
Corporate [Member]
Fair Value Less Than 12 Months	7,829	16,252
Unrealized Losses Less Than 12 Months	1,121	2,198
Fair Value More Than 12 Months	18,094	10,379
Unrealized Losses More Than 12 Months	3,506	1,721
Fair Value Total	25,923	26,631
Unrealized Losses Total	4,627	3,919
U.S. Treasury [Member]
Fair Value Less Than 12 Months	4,868	9,657
Unrealized Losses Less Than 12 Months	134	362
Fair Value More Than 12 Months	32,335	26,987
Unrealized Losses More Than 12 Months	2,572	2,897
Fair Value Total	37,203	36,644
Unrealized Losses Total	$ 2,706	$ 3,259

Investment Securities (Detail_4

Investment Securities (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Other Investments	$ 10,587	$ 11,317
Federal Home Loan Bank [Member]
Other Investments	1,900
Stock	2,970
Thirteen Low-Income housing [Member]
Other Investments	5,700
Three low-income housing limited partnerships [Member]
Other Investments	$ 775

Loans and Allowance for Credi_3

Loans and Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Gross loans	$ 757,506	$ 744,174
Less: Deferred loan fess, net of costs	(586)	(570)
Less allowance for credit losses	8,546	7,936
Loans outstanding	748,374	735,668
Multi-Family [Member]
Loans outstanding	10,042	9,622
Commercial Real Estate [Member]
Loans outstanding		195,163
Owner-occupied Commercial Real Estate [Member]
Loans outstanding	91,595
1-4 Family residential construction [Member]
Loans outstanding	28,774
Real Estate [Member]
Loans outstanding	161,022	153,281
Credit Cards [Member]
Loans outstanding	3,256	3,242
Other commercial real estate [Member]
Loans outstanding	103,392
Commercial and industrial [Member]
Loans outstanding	45,307
Construction/Land Development [Member]
Loans outstanding	40,472	68,671
Dealers Finance [Member]
Loans outstanding		125,125
Farmland [Member]
Loans outstanding	74,322	74,322
Agricultural loans [Member]
Loans outstanding	11,849
Automobile loans [Member]
Loans outstanding	114,549
Municipal loans [Member]
Loans outstanding	6,248
Consumer [Member]
Loans outstanding		6,488
Home Equity - Closed End [Member]
Loans outstanding	4,563	4,707
Home Equity - Open End [Member]
Loans outstanding	46,434	46,928
Commercial & Industrial - Non- Real Estate [Member]
Loans outstanding		$ 56,625
Other consumer loans [Member]
Loans outstanding	$ 15,681

Loans and Allowance for Credi_4

Loans and Allowance for Credit Losses (Details 1) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Less: Deferred aoan fees, net of costs, 30-59 days past due	$ 0	$ 0
Less: Deferred Loan fees, net of costs,Current	0	0
Gross loans, net of costs, 30-59 days past due	3,822
Less: Deferred aoan fees, net of costs, 60-89 days past due	0	0
Gross loans, net of costs, 60-89 days past due	692
Less: Deferred aoan fees, net of costs, greater than 90 days	0	0
Gross loans, net of costs, greater than 90 days	39
Less: Deferred aoan fees, net of costs, non accruel loans	1,743
Gross loans, net of costs, non accruel loans	751,210
Less: Deferred aoan fees, net of costs, current	586	570
Less: Deferred loan fees, net of costs, total loan receivable	586	570
Gross loans, net of costs, total loan receivable	757,506
Multi-Family [Member]
Non-Accrual Loans	0	0
Current	10,042	9,622
Total Loan Receivable	10,042	9,622
30-59 Days Past Due	0	0
60-89 Days Past Due	0	0
Greater than 90 Days	0	0
Dealers Finance [Member]
Non-Accrual Loans		210
Current		123,568
Total Loan Receivable		125,125
30-59 Days Past Due		1,117
60-89 Days Past Due		225
Greater than 90 Days		5
Farmland [Member]
Non-Accrual Loans	984	1,458
Current	73,338
Total Loan Receivable	74,322
30-59 Days Past Due	0	85
60-89 Days Past Due	0	18
Greater than 90 Days	0	0
Agricultural loans [Member]
Non-Accrual Loans	88
Current	11,761
Total Loan Receivable	11,849
30-59 Days Past Due	0
60-89 Days Past Due	0
Greater than 90 Days	0
Automobile loans [Member]
Non-Accrual Loans	193
Current	113,297
Total Loan Receivable	114,549
30-59 Days Past Due	808
60-89 Days Past Due	251
Greater than 90 Days	0
Municipal loans [Member]
Non-Accrual Loans	0
Current	6,248
Total Loan Receivable	6,248
30-59 Days Past Due	0
60-89 Days Past Due	0
Greater than 90 Days	0
Consumer [Member]
Non-Accrual Loans		15
Current		6,451
Total Loan Receivable		6,488
30-59 Days Past Due		11
60-89 Days Past Due		11
Greater than 90 Days		0
Commercial & Industrial - Non- Real Estate [Member]
Non-Accrual Loans		101
Current		56,389
Total Loan Receivable		56,625
30-59 Days Past Due		104
60-89 Days Past Due		0
Greater than 90 Days		31
Other consumer loans [Member]
Non-Accrual Loans	0
Current	15,601
Total Loan Receivable	15,681
30-59 Days Past Due	67
60-89 Days Past Due	13
Greater than 90 Days	0
Home Equity - Close End [Member]
Non-Accrual Loans	0	0
Current	4,563	4,704
Total Loan Receivable	4,563	4,707
30-59 Days Past Due	0	3
60-89 Days Past Due	0	0
Greater than 90 Days	0	0
Home Equity Open End [Member]
Non-Accrual Loans	24	0
Current	45,875	46,366
Total Loan Receivable	46,434	46,928
30-59 Days Past Due	204	385
60-89 Days Past Due	331	177
Greater than 90 Days	0	0
Construction/Land [Member]
Non-Accrual Loans		21
Current		67,634
Total Loan Receivable		68,671
30-59 Days Past Due		477
60-89 Days Past Due		539
Greater than 90 Days		0
Other Construction/Land Development [Member]
Non-Accrual Loans	33
Current	40,439
Total Loan Receivable	40,472
30-59 Days Past Due	0
60-89 Days Past Due	0
Greater than 90 Days	0
Commercial Real Estate [Member]
Non-Accrual Loans		0
Current		194,847
Total Loan Receivable		195,163
30-59 Days Past Due		234
60-89 Days Past Due		82
Greater than 90 Days		0
Total [Member]
30-59 Days Past due	3,822	4,274
60-89 Days Past due	692	1,287
Greater than 90 Days	39	38
Non-Accrual Loans	1,743	2,224
Current	750,654	735,781
Total Loan Receivable	756,920	743,604
Real Estate [Member]
Non-Accrual Loans	421	419
Current	158,721	150,829
Total Loan Receivable	161,022	153,281
30-59 Days Past Due	1,880	1,807
60-89 Days Past Due	0	226
Greater than 90 Days	0	0
Credit Cards [Member]
Non-Accrual Loans	0	0
Current	3,218	3,180
Total Loan Receivable	3,256	3,242
30-59 Days Past Due	25	51
60-89 Days Past Due	4	9
Greater than 90 Days	9	$ 2
Other commercial real estate [Member]
Non-Accrual Loans	0
Current	103,321
Total Loan Receivable	103,392
30-59 Days Past Due	71
60-89 Days Past Due	0
Greater than 90 Days	0
Commercial and industrial [Member]
Non-Accrual Loans	0
Current	45,177
Total Loan Receivable	45,307
30-59 Days Past Due	7
60-89 Days Past Due	93
Greater than 90 Days	30
1-4 Family residential construction [Member]
Non-Accrual Loans	0
Current	28,185
Total Loan Receivable	28,774
30-59 Days Past Due	589
60-89 Days Past Due	0
Greater than 90 Days	0
Owner-occupied [Member]
Non-Accrual Loans	0
Current	91,424
Total Loan Receivable	91,595
30-59 Days Past Due	171
60-89 Days Past Due	0
Greater than 90 Days	$ 0

Loans and Allowance for Credi_5

Loans and Allowance for Credit Losses (Details 2) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Total [Member]
Non-Accrual Loans	$ 1,743	$ 2,224
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	1,743
Owner-occupied commercial real estateCommercial Real Estate [Member]
Non-Accrual Loans	0	0
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	0
Other Commercial Real Estate [Member]
Non-Accrual Loans	0	0
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	0
Multi-Family [Member]
Non-Accrual Loans	0	0
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	0
Farmland [Member]
Non-Accrual Loans	984	1,458
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	984
Agricultural loans [Member]
Non-Accrual Loans	88	88
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	88
Automobile loans [Member]
Non-Accrual Loans	193	210
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	193
Municipal loans [Member]
Non-Accrual Loans	0	0
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	0
Home Equity - Close End [Member]
Non-Accrual Loans	0	0
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	0
Home Equity Open End [Member]
Non-Accrual Loans	24	0
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	24
Other construction, land development and land [Member]
Non-Accrual Loans	33	21
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	33
Commercial & Industrial [Member]
Non-Accrual Loans	0	13
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	0
Other consumer loans [Member]
Non-Accrual Loans	0	15
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	0
Real Estate [Member]
Non-Accrual Loans	421	419
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	421
Credit Cards [Member]
Non-Accrual Loans	0	0
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	0
1-4 Family residential construction [Member]
Non-Accrual Loans	0	$ 0
Nonaccrual Loans with an Allowance	0
Nonaccrual loans with No Allowance	$ 0

Loans and Allowance for Credi_6

Loans and Allowance for Credit Losses (Details 3) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Total [Member]
Accrued interest receivables	$ 2
Owner-occupied commercial real estateCommercial Real Estate [Member]
Accrued interest receivables	0
Other Commercial Real Estate [Member]
Accrued interest receivables	0
Multi-Family [Member]
Accrued interest receivables	0
Farmland [Member]
Accrued interest receivables	0
Agricultural loans [Member]
Accrued interest receivables	0
Automobile loans [Member]
Accrued interest receivables	2
Municipal loans [Member]
Accrued interest receivables	0
Home Equity - Close End [Member]
Accrued interest receivables	0
Home Equity Open End [Member]
Accrued interest receivables	0
Other construction, land development and land [Member]
Accrued interest receivables	0
Commercial & Industrial [Member]
Accrued interest receivables	0
Other consumer loans [Member]
Accrued interest receivables	0
Real Estate [Member]
Accrued interest receivables	0
Credit Cards [Member]
Accrued interest receivables	0
1-4 Family residential construction [Member]
Accrued interest receivables	$ 0

Loans and Allowance for Credi_7

Loans and Allowance for Credit Losses (Details 4)	Mar. 31, 2023 USD ($)
Less: Unamortized net deferred loan fees	$ (586,000)
Loans held for investment	756,920,000
Total [Member]
2023	44,182
2022	188,701
2021	109,380
2020	75,756
2019	36,604
Prior	165,770,000
Revolving	137,113,000
Total	757,506
Multi-Family [Member]
2023	0
2022	2,765
2021	1,449
2020	935
2019	0
Prior	1,748,000
Revolving	10,042,000
Total	3,145
Farmland [Member]
2023	890
2022	13,597
2021	15,306
2020	28,307
2019	3,387
Prior	8,661,000
Revolving	4,174,000
Total	74,322
Agricultural loans [Member]
2023	914
2022	3,657
2021	722
2020	664
2019	13
Prior	103,000
Revolving	5,776,000
Total	11,849
Automobile loans [Member]
2023	17,288
2022	51,015
2021	27,772
2020	11,993
2019	4,332
Prior	2,149,000
Revolving	0
Total	114,549
Municipal loans [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	0
Total	0
Other consumer loans [Member]
2023	2,124
2022	7,379
2021	3,536
2020	1,574
2019	623
Prior	138,000
Revolving	307,000
Total	15,681
Home Equity - Close End [Member]
2023	134
2022	408
2021	127
2020	1,148
2019	520
Prior	2,226,000
Revolving	0
Total	4,563
Home Equity Open End [Member]
2023	370
2022	0
2021	0
2020	0
2019	0
Prior	144,000
Revolving	45,920,000
Total	46,434
Construction/Land [Member]
2023	3,375
2022	5,833
2021	6,194
2020	1,917
2019	3,006
Prior	6,124,000
Revolving	14,023,000
Total	40,472
Pass [Member] | Multi-Family [Member]
2023	0
2022	2,765
2021	1,449
2020	935
2019	0
Prior	1,640,000
Revolving	3,145,000
Total	9,934
Pass [Member] | Farmland [Member]
2023	890
2022	13,597
2021	14,991
2020	28,307
2019	3,387
Prior	7,090,000
Revolving	4,157,000
Total	72,419
Pass [Member] | Agricultural loans [Member]
2023	914
2022	3,595
2021	678
2020	653
2019	13
Prior	103,000
Revolving	5,641,000
Total	11,597
Pass [Member] | Municipal loans [Member]
2023	0
2022	236
2021	1,070
2020	1,158
2019	1,285
Prior	2,499,000
Revolving	0
Total	6,248
Pass [Member] | Other consumer loans [Member]
2023	0
2022	7,365
2021	3,531
2020	1,573
2019	618
Prior	132,000
Revolving	307,000
Total	15,650
Pass [Member] | Home Equity - Close End [Member]
2023	134
2022	408
2021	127
2020	1,148
2019	507
Prior	1,848,000
Revolving	0
Total	4,172
Pass [Member] | Home Equity Open End [Member]
2023	370
2022	0
2021	0
2020	0
2019	0
Prior	144,000
Revolving	44,321,000
Total	44,835
Watch [Member] | Multi-Family [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	108,000
Revolving	0
Total	108
Watch [Member] | Farmland [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	919,000
Revolving	0
Total	919
Watch [Member] | Agricultural loans [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	0
Total	0
Watch [Member] | Municipal loans [Member]
2023	0
2022	236
2021	1,070
2020	1,158
2019	1,285
Prior	2,499,000
Revolving	0
Total	6,248
Watch [Member] | Other consumer loans [Member]
2023	0
2022	14
2021	5
2020	1
2019	5
Prior	6,000
Revolving	0
Total	31
Watch [Member] | Home Equity - Close End [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	378,000
Revolving	0
Total	378
Watch [Member] | Home Equity Open End [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	1,525,000
Total	1,525
Substandard [Member] | Multi-Family [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	0
Total	0
Substandard [Member] | Farmland [Member]
2023	0
2022	0
2021	315
2020	0
2019	0
Prior	652,000
Revolving	17,000
Total	984
Substandard [Member] | Agricultural loans [Member]
2023	0
2022	62
2021	44
2020	11
2019	0
Prior	0
Revolving	135,000
Total	252
Substandard [Member] | Municipal loans [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	0
Total	0
Substandard [Member] | Other consumer loans [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	0
Total	0
Substandard [Member] | Home Equity - Close End [Member]
2023	0
2022	0
2021	0
2020	0
2019	13
Prior	0
Revolving	0
Total	13
Substandard [Member] | Home Equity Open End [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	74,000
Total	74
Current Period Gross Write Offs Member [Member] | Total [Member]
2023	0
2022	119
2021	177
2020	68
2019	3
Prior	12,000
Revolving	5,000
Total	385
Current Period Gross Write Offs Member [Member] | Municipal loans [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	0
Total	0
Current Period Gross Write Offs Member [Member] | Other consumer loans [Member]
2023	0
2022	16
2021	0
2020	1
2019	1
Prior	0
Revolving	0
Total	18
Real Estate [Member]
2023	12,125
2022	43,827
2021	15,863
2020	13,022
2019	8,239
Prior	67,946,000
Revolving	0
Total	161,022
Real Estate [Member] | Pass [Member]
2023	12,125
2022	43,827
2021	15,316
2020	12,515
2019	6,850
Prior	59,446,000
Revolving	0
Total	150,079
Real Estate [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	507
2019	156
Prior	6,217,000
Revolving	0
Total	6,880
Real Estate [Member] | Substandard [Member]
2023	0
2022	0
2021	547
2020	0
2019	1,233
Prior	2,283,000
Revolving	0
Total	4,063
Credit Cards [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	3,256,000
Total	3,256
Credit Cards [Member] | Pass [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	3,247,000
Total	0
Credit Cards [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	0
Total	0
Credit Cards [Member] | Substandard [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	9,000
Total	9
Credit Cards [Member] | Current Period Gross Write Offs Member [Member]
2023	0
2022	16
2021	0
2020	1
2019	1
Prior	0
Revolving	0
Total	18
Other commercial real estate [Member]
2023	2,642
2022	31,221
2021	13,182
2020	5,194
2019	3,942
Prior	45,122,000
Revolving	2,089,000
Total	103,392
Other commercial real estate [Member] | Pass [Member]
2023	2,642
2022	31,221
2021	13,182
2020	5,194
2019	3,942
Prior	36,496,000
Revolving	1,840,000
Total	94,517
Other commercial real estate [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	8,539,000
Revolving	249,000
Total	8,788
Other commercial real estate [Member] | Substandard [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	87,000
Revolving	0
Total	87
Commercial and industrial [Member]
2023	2,450
2022	10,002
2021	5,386
2020	2,409
2019	1,098
Prior	774,000
Revolving	19,860,000
Total	41,979
Commercial and industrial [Member] | Pass [Member]
2023	2,450
2022	10,002
2021	5,386
2020	2,409
2019	1,098
Prior	774,000
Revolving	19,860,000
Total	41,979
Commercial and industrial [Member] | Watch [Member]
2023	0
2022	0
2021	66
2020	0
2019	0
Prior	2,000
Revolving	3,212,000
Total	3,280
Commercial and industrial [Member] | Substandard [Member]
2023	0
2022	0
2021	14
2020	30
2019	0
Prior	4,000
Revolving	0
Total	48
1-4 Family residential construction [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	28,132,000
Total	28,774
1-4 Family residential construction [Member] | Pass [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	27,443,000
1-4 Family residential construction [Member] | Watch [Member]
2023	642
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	250,000
Total	892
1-4 Family residential construction [Member] | Substandard [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	439,000
Total	439
Owner-occupied [Member]
2023	1,228
2022	18,761
2021	18,693
2020	7,405
2019	10,159
Prior	28,130,000
Revolving	7,219,000
Total	91,595
Owner-occupied [Member] | Pass [Member]
2023	1,228
2022	18,761
2021	18,693
2020	7,405
2019	3,720
Prior	24,781,000
Revolving	6,921,000
Total	81,509
Owner-occupied [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	41
Prior	2,135,000
Revolving	0
Total	2,176
Owner-occupied [Member] | Substandard [Member]
2023	0
2022	0
2021	0
2020	0
2019	6,398
Prior	1,214,000
Revolving	298,000
Total	7,910
Construction/Land [Member] | Pass [Member]
2023	3,375
2022	5,312
2021	6,194
2020	1,917
2019	3,006
Prior	5,823,000
Revolving	13,853,000
Total	39,480
Construction/Land [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	268,000
Revolving	170,000
Total	438
Construction/Land [Member] | Substandard [Member]
2023	0
2022	521
2021	0
2020	0
2019	0
Prior	33,000
Revolving	0
Total	554
Automobile loans [Member] | Pass [Member]
2023	17,288
2022	50,785
2021	27,514
2020	11,900
2019	4,271
Prior	2,064,000
Revolving	0
Total	113,822
Automobile loans [Member] | Watch [Member]
2023	0
2022	151
2021	165
2020	76
2019	55
Prior	72,000
Revolving	0
Total	519
Automobile loans [Member] | Substandard [Member]
2023	0
2022	79
2021	93
2020	17
2019	6
Prior	13,000
Revolving	0
Total	208
Automobile loans [Member] | Current Period Gross Write Offs Member [Member]
2023	0
2022	103
2021	177
2020	68
2019	2
Prior	12,000
Revolving	0
Total	$ 362

Loans and Allowance for Credi_8

Loans and Allowance for Credit Losses (Details 5)	Dec. 31, 2022 USD ($)
Multi-Family [Member]
Grade 1 Minimal Risk	$ 0
Grade 2 Modest Risk	0
Grade 3 Average Risk	963,000
Grade 4 Acceptable Risk	72,779,000
Grade 5 Marginally Acceptable	41,749,000
Grade 6 Watch	113
Grade 7 Substandard	0
Grade 8 Doubtful	0
Total	9,622,000
Commercial Real Estate [Member]
Grade 1 Minimal Risk	0
Grade 2 Modest Risk	3,097,000
Grade 3 Average Risk	55,662,000
Grade 4 Acceptable Risk	72,779,000
Grade 5 Marginally Acceptable	639,000
Grade 6 Watch	13,878,000
Grade 7 Substandard	7,998,000
Grade 8 Doubtful	0
Total	195,163,000
Real Estate [Member]
Grade 1 Minimal Risk	0
Grade 2 Modest Risk	553,000
Grade 3 Average Risk	27,003,000
Grade 4 Acceptable Risk	86,269,000
Grade 5 Marginally Acceptable	3,430,000
Grade 6 Watch	6,950,000
Grade 7 Substandard	3,946,000
Total	153,281,000
Grade 8 Doubtful	0
Credit Cards [Member]
Total	3,242,000
Non-performing	2
Performing	3,240,000
Construction/Land Development [Member]
Grade 1 Minimal Risk	0
Grade 2 Modest Risk	4,000
Grade 3 Average Risk	11,112,000
Grade 4 Acceptable Risk	42,684,000
Grade 5 Marginally Acceptable	22,069,000
Grade 6 Watch	1,213,000
Grade 7 Substandard	542,000
Grade 8 Doubtful	0
Total	68,671,000
Dealers Finance [Member]
Total	125,125,000
Non-performing	215,000
Performing	124,910,000
Farmland [Member]
Grade 1 Minimal Risk	(155,000)
Grade 2 Modest Risk	269,000
Grade 3 Average Risk	11,373,000
Grade 4 Acceptable Risk	38,051,000
Grade 5 Marginally Acceptable	28,560,000
Grade 6 Watch	947,000
Grade 7 Substandard	1,458,000
Grade 8 Doubtful	0
Total	74,322,000
Consumer [Member]
Grade 1 Minimal Risk	(33)
Grade 2 Modest Risk	286,000
Grade 3 Average Risk	2,965,000
Grade 4 Acceptable Risk	3,105,000
Grade 5 Marginally Acceptable	68,000
Grade 6 Watch	16,000
Grade 7 Substandard	15
Grade 8 Doubtful	0
Total	6,488,000
Home Equity - Close End [Member]
Grade 1 Minimal Risk	0
Grade 2 Modest Risk	48,000
Grade 3 Average Risk	1,065,000
Grade 4 Acceptable Risk	2,560,000
Grade 5 Marginally Acceptable	2,091,000
Grade 6 Watch	382,000
Grade 7 Substandard	13,000
Grade 8 Doubtful	0
Total	4,707,000
Home Equity Open End [Member]
Grade 1 Minimal Risk	(27)
Grade 2 Modest Risk	1,272,000
Grade 3 Average Risk	18,671,000
Grade 4 Acceptable Risk	23,207,000
Grade 5 Marginally Acceptable	2,091,000
Grade 6 Watch	1,611,000
Grade 7 Substandard	49,000
Grade 8 Doubtful	0
Total	46,928,000
Commercial & Industrial (Non-Real Estate)
Grade 1 Minimal Risk	(10,000)
Grade 2 Modest Risk	516,000
Grade 3 Average Risk	12,934,000
Grade 4 Acceptable Risk	26,310,000
Grade 5 Marginally Acceptable	15,613,000
Grade 6 Watch	911,000
Grade 7 Substandard	331,000
Grade 8 Doubtful	0
Total	56,625,000
Gross Loan [Member]
Grade 1 Minimal Risk	(225,000)
Grade 2 Modest Risk	6,045,000
Grade 3 Average Risk	141,748,000
Grade 4 Acceptable Risk	300,081,000
Grade 5 Marginally Acceptable	127,335,000
Grade 6 Watch	26,021,000
Grade 7 Substandard	14,352,000
Grade 8 Doubtful	0
Total	615,807,000
Less: Deferred Loan Fees Net Of Costs [Member]
Grade 1 Minimal Risk	(570,000)
Total	$ 615,237,000

Loans and Allowance for Credi_9

Loans and Allowance for Credit Losses (Details 6) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Business/Other Assets	$ 22,081	$ 20,153
Total [Member]
Real state	520
Business/Other Assets	0
Owner-occupied commercial real estateCommercial Real Estate [Member]
Real state	0
Business/Other Assets	0
Other Commercial Real Estate [Member]
Real state	0
Business/Other Assets	0
Multi-Family [Member]
Real state	0
Business/Other Assets	0
Farmland [Member]
Real state	0
Business/Other Assets	0
Agricultural loans [Member]
Real state	0
Business/Other Assets	0
Automobile loans [Member]
Real state	0
Business/Other Assets	0
Municipal loans [Member]
Real state	0
Business/Other Assets	0
Home Equity - Close End [Member]
Real state	0
Business/Other Assets	0
Home Equity Open End [Member]
Real state	0
Business/Other Assets	0
Other construction, land development and land [Member]
Real state	520
Business/Other Assets	0
Commercial & Industrial [Member]
Real state	0
Business/Other Assets	0
Other consumer loans [Member]
Real state	0
Business/Other Assets	0
Real Estate [Member]
Real state	0
Business/Other Assets	0
Credit Cards [Member]
Real state	0
Business/Other Assets	0
1-4 Family residential construction [Member]
Real state	0
Business/Other Assets	$ 0

Loans and Allowance for Cred_10

Loans and Allowance for Credit Losses (Details 7)	Mar. 31, 2023 USD ($)
Multi-Family [Member]
Beginning Balance	$ 29,000
Charge-offs	0
Recoveries	0
Provision for Loan Losses	6,000
Ending Balance	35,000
Individually Evaluated for Impairment	0
Collectively Evaluated for Impairment	35,000
Adjustment for adoption of ASU 2016-13	182,000
Commercial Real Estate [Member]
Beginning Balance	2,205,000
Charge-offs	0
Recoveries	0
Provision for Loan Losses	(112,000)
Ending Balance	2,093,000
Individually Evaluated for Impairment	456,000
Collectively Evaluated for Impairment	1,637,000
Owner-occupied Commercial Real Estate [Member]
Beginning Balance	992,000
Charge-offs	0
Recoveries	0
Provision for Loan Losses	0
Ending Balance	1,272,000
Adjustment for adoption of ASU 2016-13	280,000
Total [Member]
Beginning Balance	7,748,000
Charge-offs	238
Recoveries	329
Provision for Loan Losses	(450,000)
Ending Balance	7,389,000
Individually Evaluated for Impairment	582
Collectively Evaluated for Impairment	6,807,000
Adjustment for adoption of ASU 2016-13	777,000
Other Commercial Real Estate [Member]
Beginning Balance	1,023,000
Charge-offs	0
Recoveries	0
Provision for Loan Losses	0
Ending Balance	441,000
Adjustment for adoption of ASU 2016-13	(582,000)
Real Estate [Member]
Beginning Balance	1,162,000
Charge-offs	0
Recoveries	0
Provision for Loan Losses	4,000
Ending Balance	1,164,000
Individually Evaluated for Impairment	113,000
Collectively Evaluated for Impairment	1,051,000
Adjustment for adoption of ASU 2016-13	(184,000)
Credit Cards [Member]
Beginning Balance	70,000
Charge-offs	12,000
Recoveries	7,000
Provision for Loan Losses	(2,000)
Ending Balance	63,000
Individually Evaluated for Impairment	0
Collectively Evaluated for Impairment	63,000
Adjustment for adoption of ASU 2016-13	26,000
1-4 Family residential construction [Member]
Beginning Balance	324,000
Charge-offs	0
Recoveries	0
Provision for Loan Losses	0
Ending Balance	433,000
Adjustment for adoption of ASU 2016-13	109,000
Construction/Land Development [Member]
Beginning Balance	977,000
Charge-offs	0
Recoveries	0
Provision for Loan Losses	(275,000)
Ending Balance	702,000
Individually Evaluated for Impairment	0
Collectively Evaluated for Impairment	702,000
Dealers Finance [Member]
Beginning Balance	1,601,000
Charge-offs	204,000
Recoveries	152,000
Provision for Loan Losses	85,000
Ending Balance	1,634,000
Individually Evaluated for Impairment	13,000
Collectively Evaluated for Impairment	1,621,000
Farmland [Member]
Beginning Balance	448,000
Charge-offs	0
Recoveries	0
Provision for Loan Losses	0
Ending Balance	882,000
Individually Evaluated for Impairment	0
Collectively Evaluated for Impairment	452,000
Adjustment for adoption of ASU 2016-13	311,000
Agricultural loans [Member]
Beginning Balance	80,000
Charge-offs	0
Recoveries	0
Provision for Loan Losses	0
Ending Balance	22,000
Adjustment for adoption of ASU 2016-13	(58,000)
Automobile loans [Member]
Beginning Balance	1,790,000
Charge-offs	362
Recoveries	210
Provision for Loan Losses	0
Ending Balance	1,381,000
Adjustment for adoption of ASU 2016-13	(257,000)
Municipal loans [Member]
Beginning Balance	0
Charge-offs	0
Recoveries	0
Provision for Loan Losses	0
Ending Balance	374,000
Adjustment for adoption of ASU 2016-13	0
Consumer [Member]
Beginning Balance	520,000
Charge-offs	21,000
Recoveries	11,000
Provision for Loan Losses	13,000
Ending Balance	523,000
Individually Evaluated for Impairment	0
Collectively Evaluated for Impairment	523,000
Home Equity - Close End [Member]
Beginning Balance	41,000
Charge-offs	0
Recoveries	(2)
Provision for Loan Losses	(2,000)
Ending Balance	39,000
Individually Evaluated for Impairment	0
Collectively Evaluated for Impairment	39,000
Adjustment for adoption of ASU 2016-13	96,000
Home Equity Open End [Member]
Beginning Balance	407,000
Charge-offs	0
Recoveries	129,000
Provision for Loan Losses	(162,000)
Ending Balance	257,000
Individually Evaluated for Impairment	0
Collectively Evaluated for Impairment	374,000
Adjustment for adoption of ASU 2016-13	(189,000)
Other construction, land development and land [Member]
Beginning Balance	694,000
Charge-offs	0
Recoveries	0
Provision for Loan Losses	0
Adjustment for adoption of ASU 2016-13	602,000
Commercial & Industrial [Member]
Beginning Balance	368,000
Charge-offs	0
Recoveries	1
Provision for Loan Losses	0
Ending Balance	707,000
Adjustment for adoption of ASU 2016-13	338,000
Other consumer loans [Member]
Beginning Balance	81,000
Charge-offs	18
Recoveries	6
Provision for Loan Losses	0
Ending Balance	172,000
Adjustment for adoption of ASU 2016-13	103,000
Commercial & Industrial (Non-Real Estate)
Beginning Balance	288,000
Charge-offs	1,000
Recoveries	30,000
Provision for Loan Losses	(7,000)
Ending Balance	310,000
Individually Evaluated for Impairment	0
Collectively Evaluated for Impairment	$ 310,000

Loans and Allowance for Cred_11

Loans and Allowance for Credit Losses (Details 8) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Owner Occupied Commercial Real Estate [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	$ 1,272,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	1,272,000
Other Commercial Real Estate [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	441,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	441,000
Multi-Family [Member]
Loan Individually Evaluated For Impairment		$ 0
Collectively Evaluated for Impairment		9,622,000
Multi-Family [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	253,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	253,000
Real Estate [Member]
Loan Individually Evaluated For Impairment		3,260,000
Collectively Evaluated for Impairment		150,021,000
Real Estate [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	1,205,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	1,205,000
Credit Cards [Member]
Loan Individually Evaluated For Impairment		0
Collectively Evaluated for Impairment		3,242,000
Credit Cards [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	90,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	90,000
Commercial and industrial[Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	707,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	707,000
1-4 Family residential construction [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	433,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	433,000
Loans Balances [Member] | Owner Occupied Commercial Real Estate [Member]
Loan Balances	91,595,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	91,595,000
Loans Balances [Member] | Other Commercial Real Estate [Member]
Loan Balances	103,392,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	103,392,000
Loans Balances [Member] | Multi-Family [Member]
Loan Balances	10,042,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	10,042,000
Loans Balances [Member] | Real Estate [Member]
Loan Balances	161,022,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	161,022,000
Loans Balances [Member] | Credit Cards [Member]
Loan Balances	3,256,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	3,256,000
Loans Balances [Member] | Commercial and industrial[Member]
Loan Balances	45,307,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	45,307,000
Loans Balances [Member] | 1-4 Family residential construction [Member]
Loan Balances	28,774,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	28,774,000
Farmland [Member]
Loan Individually Evaluated For Impairment		2,079,000
Collectively Evaluated for Impairment		72,243,000
Farmland [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	882,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	882,000
Farmland [Member] | Loans Balances [Member]
Loan Balances	74,322,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	74,322,000
Home Equity - Close End [Member]
Loan Individually Evaluated For Impairment		0
Collectively Evaluated for Impairment		4,707,000
Home Equity - Close End [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	135,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	135,000
Home Equity - Close End [Member] | Loans Balances [Member]
Loan Balances	4,563,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	4,563,000
Home Equity Open End [Member]
Loan Individually Evaluated For Impairment		0
Collectively Evaluated for Impairment		46,928,000
Home Equity Open End [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	257,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	257,000
Home Equity Open End [Member] | Loans Balances [Member]
Loan Balances	46,434,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	46,434,000
Other consumer loans [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	172,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	172,000
Other consumer loans [Member] | Loans Balances [Member]
Loan Balances	15,681,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	15,681,000
Agricultural loans [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	22,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	22,000
Agricultural loans [Member] | Loans Balances [Member]
Loan Balances	11,849,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	11,849,000
Automobile loans [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	1,381,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	1,381,000
Automobile loans [Member] | Loans Balances [Member]
Loan Balances	114,549,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	114,549,000
Municipal loans [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	0
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	0
Municipal loans [Member] | Loans Balances [Member]
Loan Balances	6,248,000
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	6,248,000
Total Loan [Member]
Loan Individually Evaluated For Impairment		15,365
Collectively Evaluated for Impairment		$ 728,239,000
Total Loan [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	8,546,000
Loan Individually Evaluated For Impairment	228,000
Collectively Evaluated for Impairment	8,318,000
Total Loan [Member] | Loans Balances [Member]
Loan Balances	757,506,000
Loan Individually Evaluated For Impairment	520
Collectively Evaluated for Impairment	756,986,000
Other Construction, Land Development And Land [Member] | Loans Balances [Member]
Loan Balances	40,472,000
Loan Individually Evaluated For Impairment	520,000
Collectively Evaluated for Impairment	$ 39,952,000

Loans and Allowance for Cred_12

Loans and Allowance for Credit Losses (Details 9)	Dec. 31, 2022 USD ($)
Multi-Family [Member]
Loan Receivable	$ 9,622,000
Loan Receivable	(9,622,000)
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	9,622,000
Collectively Evaluated for Impairment	(9,622,000)
Commercial Real Estate [Member]
Loan Receivable	195,163,000
Loan Receivable	(195,163,000)
Loan Individually Evaluated For Impairment	9,111,000
Collectively Evaluated for Impairment	186,052,000
Collectively Evaluated for Impairment	(186,052,000)
Real Estate [Member]
Loan Receivable	153,281,000
Loan Receivable	(153,281,000)
Loan Individually Evaluated For Impairment	3,260,000
Collectively Evaluated for Impairment	150,021,000
Collectively Evaluated for Impairment	(150,021,000)
Credit Cards [Member]
Loan Receivable	3,242,000
Loan Receivable	(3,242,000)
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	3,242,000
Collectively Evaluated for Impairment	(3,242,000)
Construction/Land Development [Member]
Loan Receivable	68,671,000
Loan Receivable	(68,671,000)
Loan Individually Evaluated For Impairment	853,000
Collectively Evaluated for Impairment	67,818,000
Collectively Evaluated for Impairment	(67,818,000)
Dealers Finance [Member]
Loan Receivable	125,125,000
Loan Receivable	(125,125,000)
Loan Individually Evaluated For Impairment	62,000
Collectively Evaluated for Impairment	125,063,000
Collectively Evaluated for Impairment	(125,063,000)
Farmland [Member]
Loan Receivable	74,322,000
Loan Receivable	(74,322,000)
Loan Individually Evaluated For Impairment	2,079,000
Collectively Evaluated for Impairment	72,243,000
Collectively Evaluated for Impairment	(72,243,000)
Consumer [Member]
Loan Receivable	6,488,000
Loan Receivable	(6,488,000)
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	6,488,000
Collectively Evaluated for Impairment	(6,488,000)
Home Equity - Close End [Member]
Loan Receivable	4,707,000
Loan Receivable	(4,707,000)
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	4,707,000
Collectively Evaluated for Impairment	(4,707,000)
Home Equity Open End [Member]
Loan Receivable	46,928,000
Loan Receivable	(46,928,000)
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	46,928,000
Collectively Evaluated for Impairment	(46,928,000)
Commercial & Industrial (Non-Real Estate)
Loan Receivable	56,625,000
Loan Receivable	(56,625,000)
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	56,625,000
Collectively Evaluated for Impairment	(56,625,000)
Gross Loan [Member]
Loan Receivable	744,174,000
Loan Receivable	(744,174,000)
Loan Individually Evaluated For Impairment	15,365
Collectively Evaluated for Impairment	728,809,000
Collectively Evaluated for Impairment	(728,809,000)
Less: Deferred Loan Fees Net Of Costs [Member]
Loan Receivable	570,000
Loan Receivable	(570,000)
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	570,000
Collectively Evaluated for Impairment	(570,000)
Total Loan [Member]
Loan Receivable	743,604,000
Loan Receivable	(743,604,000)
Loan Individually Evaluated For Impairment	15,365
Collectively Evaluated for Impairment	728,239,000
Collectively Evaluated for Impairment	$ (728,239,000)

Loans and Allowance for Cred_13

Loans and Allowance for Credit Losses (Details 10)	Dec. 31, 2022 USD ($)
Recorded invested	$ 15,821,000
Unpaid principal balance	15,365,000
Related Allowance	344,000
Average Recorded investment	17,304,000
Allowance [Member]
Recorded invested	980,000
Unpaid principal balance	980,000
Related Allowance	11,000
Average Recorded investment	1,935,000
Allowance [Member] | Consumer [Member]
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
Multi-Family [Member]
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
Multi-Family [Member] | Allowance [Member]
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
Commercial Real Estate [Member]
Recorded invested	8,131,000
Unpaid principal balance	8,131,000
Related Allowance	0
Average Recorded investment	8,851,000
Commercial Industrial Non Real Estate [Member] | Allowance [Member]
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
Real Estate [Member]
Recorded invested	1,882,000
Unpaid principal balance	1,882,000
Related Allowance	0
Average Recorded investment	2,107,000
Real Estate [Member] | Allowance [Member]
Recorded invested	1,378,000
Unpaid principal balance	1,378,000
Related Allowance	92,000
Average Recorded investment	1,466,000
Credit Cards [Member]
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
Credit Cards [Member] | Allowance [Member]
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
Construction/Land Development [Member]
Recorded invested	332,000
Unpaid principal balance	332,000
Related Allowance	0
Average Recorded investment	474,000
Dealers Finance [Member]
Recorded invested	7,000
Unpaid principal balance	7,000
Related Allowance	0
Average Recorded investment	11,000
Farmland [Member]
Recorded invested	2,535,000
Unpaid principal balance	2,079,000
Related Allowance	0
Average Recorded investment	2,107,000
Farmland [Member] | Allowance [Member]
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
Consumer [Member]
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
Home Equity - Close End [Member]
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
Home Equity - Close End [Member] | Allowance [Member]
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
Home Equity Open End [Member]
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
Home Equity Open End [Member] | Allowance [Member]
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
Commercial & Industrial (Non-Real Estate)
Recorded invested	261,000
Unpaid principal balance	521,000
Related Allowance	228,000
Average Recorded investment	521,000
Gross Loan [Member]
Recorded invested	12,887,000
Unpaid principal balance	12,431,000
Related Allowance	0
Average Recorded investment	13,580,000
Gross Loan [Member] | Allowance [Member]
Recorded invested	2,934,000
Unpaid principal balance	2,934,000
Related Allowance	344,000
Average Recorded investment	3,724,000
Dealer Finance [Member] | Allowance [Member]
Recorded invested	55,000
Unpaid principal balance	55,000
Related Allowance	13,000
Average Recorded investment	$ 62,000

Loans and Allowance for Cred_14

Loans and Allowance for Credit Losses (Details 11)	3 Months Ended
	Mar. 31, 2022 USD ($)
Interest Income Recognized	$ 354,000
Average Recorded investment	21,345,000
Allowance [Member]
Interest Income Recognized	42,000
Average Recorded investment	4,624,000
Allowance [Member] | Consumer [Member]
Interest Income Recognized	0
Average Recorded investment	0
Multi-Family [Member]
Interest Income Recognized	0
Average Recorded investment	0
Multi-Family [Member] | Allowance [Member]
Interest Income Recognized	0
Average Recorded investment	0
Commercial Real Estate [Member]
Interest Income Recognized	186,000
Average Recorded investment	9,763,000
Commercial Industrial Non Real Estate [Member] | Allowance [Member]
Interest Income Recognized	0
Average Recorded investment	0
Real Estate [Member]
Interest Income Recognized	33,000
Average Recorded investment	2,566,000
Real Estate [Member] | Allowance [Member]
Interest Income Recognized	16,000
Average Recorded investment	1,334,000
Credit Cards [Member]
Interest Income Recognized	295,000
Average Recorded investment	15,312,000
Credit Cards [Member] | Allowance [Member]
Interest Income Recognized	0
Average Recorded investment	0
Construction/Land Development [Member]
Interest Income Recognized	6,000
Average Recorded investment	641,000
Dealers Finance [Member]
Interest Income Recognized	0
Average Recorded investment	14,000
Farmland [Member]
Interest Income Recognized	70,000
Average Recorded investment	2,251,000
Farmland [Member] | Allowance [Member]
Interest Income Recognized	0
Average Recorded investment	0
Consumer [Member]
Interest Income Recognized	0
Average Recorded investment	3,000
Home Equity - Close End [Member]
Interest Income Recognized	0
Average Recorded investment	74,000
Home Equity - Close End [Member] | Allowance [Member]
Interest Income Recognized	0
Average Recorded investment	0
Home Equity Open End [Member]
Interest Income Recognized	0
Average Recorded investment	0
Home Equity Open End [Member] | Allowance [Member]
Interest Income Recognized	0
Average Recorded investment	0
Commercial & Industrial (Non-Real Estate)
Interest Income Recognized	0
Average Recorded investment	0
Gross Loan [Member]
Interest Income Recognized	0
Average Recorded investment	0
Gross Loan [Member] | Allowance [Member]
Interest Income Recognized	59,000
Average Recorded investment	6,033,000
Dealer Finance [Member] | Allowance [Member]
Interest Income Recognized	0
Average Recorded investment	$ 0

Loans and Allowance for Cred_15

Loans and Allowance for Credit Losses (Details 12) $ in Thousands	Mar. 31, 2023 USD ($)
Automobile loans [Member]
Current	$ 23
Total [Member]
Current	203
Real Estate [Member]
Current	$ 180

Loans and Allowance for Cred_16

Loans and Allowance for Credit Losses (Details 13) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Extended Maturity [Member]
Number Of Contracts	$ 1
Pre-modification Outstanding Recorded Investment	162
Post-modification Outstanding Recorded Investment	162
Change In Terms [Member]
Number Of Contracts	4
Pre-modification Outstanding Recorded Investment	206
Total [Member]
Number Of Contracts	3
Pre-modification Outstanding Recorded Investment	44
Post-modification Outstanding Recorded Investment	$ 44

Loans and Allowance for Cred_17

Loans and Allowance for Credit Losses (Details 14) - Total Allowance for Credit Losses Unfunded CommitmentsMember [Member]	3 Months Ended
	Mar. 31, 2023 USD ($)
Beginning Balance	$ 0
Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13	747,000
Provision for unfunded commitments	0
Ending balance	$ 747,000

Loans and Allowance for Cred_18

Loans and Allowance for Credit Losses (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2021
Loans and Allowance for Credit Losses
Revenue	$ 28	$ 54
Pledged Loans	248,800		$ 209,800
Nonaccrual loans	$ 1,700		$ 2,200
Impairment description	The Company individually assessed for impairment all substandard loans greater than $500 thousand and all troubled debt restructurings
Unfunded loan commitments	$ 747

Mortgage Banking and Derivati_2

Mortgage Banking and Derivatives (Details Narrative) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($) integer	Dec. 31, 2022 USD ($) integer
Total Amount Of Conducted Business	$ 1,200
Total Amount Of Conducted Business Unpaid	1,200
Other Assets [Member]
Notional Debt Amount	$ 13,100	$ 12,200
Total Notional Positions | integer	40	38
Fair Value Of Derivative Instruments	$ 99	$ 92
Other Liability [Member]
Total Notional Positions | integer	45	43
Fair Value Of Forward Sales	$ 43	$ 186
Notional Amount	$ 14,500	$ 13,600

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Employee Benefit Plan
Service cost	$ 0	$ 190,000
Interest cost	92,000	104,000
Expected return on plan assets	(130)	(195)
Amortization of net loss	0	58
Net periodic pension cost	$ (38)	$ 157

Stock Based Compensation (Detai

Stock Based Compensation (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Sep. 30, 2022
Unrecognized compensation expense	$ 980
Share vested	6,974
Share forfeited	96
Directors [Member]
Stock Plan Committee Awarded Shares Issued	1,309
Employee Service Fair Value		$ 29
U S Treasuries [Member]
Stock Plan Committee Awarded Shares Issued	23,556
Employee Service Fair Value		$ 526
Description Of Vest Shares	These shares vest 25% over each of the next four years

Fair Value (Details)

Fair Value (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Loans held for sale, F&M Mortgage	$ 1,242,000	$ 1,373,000
U.S Treasury	37,202,000	36,643,000
U.S. Agency	131,499,000	129,748,000
Municipal bonds	38,979,000	42,198,000
Mortgage-backed securities	154,644,000	156,875,000
IRLC	99,000	92,000
Corporate	25,924,000	26,631,000
Forward sales commitments	43,000	186,000
Assets at Fair Value	389,632,000	393,654,000
Liabilities at Fair Value		92,000
Fair Value Inputs Level 1
Loans held for sale, F&M Mortgage	0	0
U.S Treasury	0	0
U.S. Agency	0	0
Municipal bonds	0	0
Mortgage-backed securities	0	0
IRLC	0	0
Corporate	0	0
Forward sales commitments	0	0
Assets at Fair Value	0	0
Liabilities at Fair Value		0
Fair Value Inputs Level 2
Loans held for sale, F&M Mortgage	1,242,000	1,373,000
U.S Treasury	37,202,000	36,643,000
U.S. Agency	131,499,000	129,748,000
Municipal bonds	38,979,000	42,198,000
Mortgage-backed securities	154,644,000	156,875,000
IRLC	99,000	92,000
Corporate	25,924,000	26,631,000
Forward sales commitments	43,000	186,000
Assets at Fair Value	389,632,000	393,654,000
Liabilities at Fair Value		92,000
Fair Value Inputs Level 3
Loans held for sale, F&M Mortgage	0	0
U.S Treasury	0	0
U.S. Agency	0	0
Municipal bonds	0	0
Mortgage-backed securities	0	0
IRLC	0	0
Corporate	0	0
Forward sales commitments	0	0
Assets at Fair Value	$ 0	0
Liabilities at Fair Value		$ 0

Fair Value (Details 1)

Fair Value (Details 1) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Impaired loans		$ 2,590
Collateral dependent loans with an ACL	$ 292
Commercial Real Estate [Member]
Impaired loans		969
Real Estate [Member]
Impaired loans		1,286
Construction/Land Development [Member]
Impaired loans		293
Dealers Finance [Member]
Impaired loans		42
Other Construction, Land Development And Land [Member]
Collateral dependent loans with an ACL	292
Fair Value Inputs Level 1
Impaired loans		0
Collateral dependent loans with an ACL	0
Fair Value Inputs Level 1 | Commercial Real Estate [Member]
Impaired loans		0
Fair Value Inputs Level 1 | Real Estate [Member]
Impaired loans		0
Fair Value Inputs Level 1 | Construction/Land Development [Member]
Impaired loans		0
Fair Value Inputs Level 1 | Dealers Finance [Member]
Impaired loans		0
Fair Value Inputs Level 1 | Other Construction, Land Development And Land [Member]
Collateral dependent loans with an ACL	0
Fair Value Inputs Level 2
Impaired loans		0
Collateral dependent loans with an ACL	0
Fair Value Inputs Level 2 | Commercial Real Estate [Member]
Impaired loans		0
Fair Value Inputs Level 2 | Real Estate [Member]
Impaired loans		0
Fair Value Inputs Level 2 | Construction/Land Development [Member]
Impaired loans		0
Fair Value Inputs Level 2 | Dealers Finance [Member]
Impaired loans		0
Fair Value Inputs Level 2 | Other Construction, Land Development And Land [Member]
Collateral dependent loans with an ACL	0
Fair Value Inputs Level 3
Impaired loans		2,590
Collateral dependent loans with an ACL	292
Fair Value Inputs Level 3 | Commercial Real Estate [Member]
Impaired loans		969
Fair Value Inputs Level 3 | Real Estate [Member]
Impaired loans		1,286
Fair Value Inputs Level 3 | Construction/Land Development [Member]
Impaired loans		293
Fair Value Inputs Level 3 | Dealers Finance [Member]
Impaired loans		$ 42
Fair Value Inputs Level 3 | Other Construction, Land Development And Land [Member]
Collateral dependent loans with an ACL	$ 292

Fair Value (Details 2)

Fair Value (Details 2) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Impaired loans		$ 344
Fair Value Inputs Level 3
Valuation technique other real estate owned	Discounted appraised value	Discounted appraised value
Significant unobservable inputs lmpaired loans	Discount for selling costs and marketability	Discount for selling costs and marketability
Average impaired loans		19%
Impaired loans		$ 2,590
Collateral Dependent Loans	$ 292
Range impaired loans	62%
Fair Value Inputs Level 3 | Minimum [Member]
Range impaired loans		10%
Fair Value Inputs Level 3 | Maximum [Member]
Range impaired loans		33%

Disclosures about Fair Value _3

Disclosures about Fair Value of Financial Instruments (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Securities held to maturity	$ 125,000	$ 125,000
Loans held for investment, net	756,920,000
Bank owned life insurance	23,727,000	23,554,000
IRLC	99,000	92,000
Forward sales commitments	43,000	186,000
Total Amount [Member]
Cash and cash equivalents	31,273,000	34,953,000
Securities		392,220,000
Securities held to maturity	114,000
Securities available for sale	388,248,000
Loans held for sale	1,242,000	1,373,000
Loans held for investment, net	737,427,000	720,806,000
Interest receivable	4,165,000	3,995,000
Bank owned life insurance	23,727,000	23,554,000
IRLC	99,000	92,000
Forward sales commitments	43,000	186,000
Total Assets	1,186,338,000	1,177,087,000
Deposits	1,103,119,000	1,080,909,000
Short-term debt	55,000,000	70,000,000
Long-term debt	6,755,000	6,778,000
Interest payable	676,000	295,000
Total liabilities	1,165,550,000	1,158,074,000
Carrying Amount [Member]
Cash and cash equivalents	31,273,000	34,953,000
Securities		392,220,000
Securities held to maturity	125,000
Securities available for sale	388,248,000
Loans held for sale	1,242,000	1,373,000
Loans held for investment, net	756,920,000	743,604,000
Interest receivable	4,165,000	3,995,000
Bank owned life insurance	23,727,000	23,554,000
IRLC	99,000	92,000
Forward sales commitments	43,000	186,000
Total Assets	1,205,842,000	1,199,885,000
Deposits	1,105,235,000	1,083,377,000
Short-term debt	55,000,000	70,000,000
Long-term debt	6,901,000	6,890,000
Interest payable	676,000	295,000
Total liabilities	1,167,812,000	1,160,654,000
Fair Value Inputs Level 1
Cash and cash equivalents	31,273,000	34,953,000
Securities		0
Securities held to maturity	0
Securities available for sale	0
Loans held for sale	0	0
Loans held for investment, net	0	0
Interest receivable	0	0
Bank owned life insurance	0	0
IRLC	0	0
Forward sales commitments	0	0
Total Assets	31,273,000	34,953,000
Deposits	0	0
Short-term debt	0	0
Long-term debt	0	0
Interest payable	0	0
Total liabilities	0	0
Fair Value Inputs Level 2
Cash and cash equivalents	0	0
Securities		392,220,000
Securities held to maturity	114,000
Securities available for sale	388,248,000
Loans held for sale	1,242,000	1,373,000
Loans held for investment, net	0	0
Interest receivable	4,165,000	3,995,000
Bank owned life insurance	23,727,000	23,554,000
IRLC	99,000	92,000
Forward sales commitments	43,000	186,000
Total Assets	417,638,000	421,328,000
Deposits	1,103,119,000	1,080,909,000
Short-term debt	0	0
Long-term debt	0	0
Interest payable	676,000	295,000
Total liabilities	1,103,795,000	1,081,296,000
Fair Value Inputs Level 3
Cash and cash equivalents	0	0
Securities		0
Securities held to maturity	0
Securities available for sale	0
Loans held for sale	0	0
Loans held for investment, net	737,427,000	720,806,000
Interest receivable	0	0
Bank owned life insurance	0	0
IRLC	0	0
Forward sales commitments	0	0
Total Assets	737,427,000	720,806,000
Deposits	0	0
Short-term debt	55,000,000	70,000,000
Long-term debt	6,755,000	6,778,000
Interest payable	0	0
Total liabilities	$ 61,755,000	$ 76,778,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Adjustments Related to Pension Plan
Beginning balance	$ 439	$ (3,291)
Change in unrealized securities gains (losses), net of tax benefit	0	0
Ending balance	439	(3,291)
Accumulated Other comprehensive Income (Loss)
Beginning balance	(40,012)	(5,092)
Change in unrealized securities gains (losses), net of tax	2,716	(14,259)
Ending balance	(37,296)	(19,351)
Unrealized Securities Gains (Losses) [Member]
Beginning balance	(40,452)	(1,801)
Change in unrealized securities gains (losses), net of tax benefit	2,716	(14,259)
Ending balance	$ (37,736)	$ (16,060)

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)	1 Months Ended
	Jul. 29, 2020	Mar. 31, 2023	Dec. 31, 2022
Short term debt		$ 55,000,000	$ 70,000,000
Subordinated Debt		$ 6,900,000
2030 Notes [Member] | Accredited Investor [Member]
Interest Rate	6%
Interest Rate Description	The note will initially bear interest at 6.00% per annum, beginning July 29, 2020 to but excluding July 31, 2025, payable semi-annually in arrears. From and including July 31, 2025 through July 30, 2030, or up to an early redemption date, the interest rate will reset quarterly to an interest rate per annum equal to the then current three-month SOFR plus 593 basis points, payable quarterly in arrears. Beginning on July 31, 2025 through maturity, the note may be redeemed, at the Company’s option, on any scheduled interest payment date
Principal Amount	$ 7,000
Maturity Date	July 31, 2030

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Total noninterest income	$ 1,884	$ 2,483
Investment Services and Insurance Income
Total noninterest income	333	251
Service Charges on Deposits
Total noninterest income	225	307
Title Insurance Income
Total noninterest income	248	473
ATM and check card fees
Total noninterest income	627	563
Noninterest Income (in-scope of Topic 606)
Total noninterest income	1,507	1,751
Noninterest Income (out-of-scope of Topic 606)
Total noninterest income	377	732
Other
Total noninterest income	$ 74	$ 157

LEASES (Details)

LEASES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Lease liabilities	$ 851
Long-Term Lease Agreements [Member]
Lease liabilities	851
Right-of-use assets	$ 837
Weighted average discount rate	3.28%
Weighted average remaining lease term	2 years 3 months 7 days
Operating lease cost	$ 40	$ 153
Total lease cost	40	153
Cash paid for amounts included in the measurement of lease liabilities	$ 58	$ 181

LEASES (Details 1)

LEASES (Details 1) $ in Thousands	Mar. 31, 2023 USD ($)
Leases
Nine months ending December 31, 2023	$ 131
Twelve months ending December 31, 2024	166
Twelve months ending December 31, 2025	122
Twelve months ending December 31, 2026	69
Twelve months ending December 31, 2027	56
Thereafter	462
Total undiscounted cash flows	1,006
Discount	155
Lease Liabilites	$ 851

Subsequent Events (Details Narr

Subsequent Events (Details Narrative)	1 Months Ended
	Apr. 26, 2023 $ / shares
Subsequent Event
Dividend per share	$ 0.26