F & M Bank (FMBM) 10-Q 14 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 03, 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	Sep. 30, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		3,482,373
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 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
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 17,391	$ 17,926
Money market funds and interest-bearing deposits in other banks	184	687
Federal funds sold	4,583	16,340
Cash and cash equivalents	22,158	34,953
Securities:
Held to maturity, at amortized cost - fair value of $113 and $112 in 2023 and 2022, respectively	125	125
Less: allowance for credit loss	0	0
Held to maturity, net	125	125
Available for sale, at fair value	372,339	392,095
Other investments	11,038	11,317
Loans held for sale, at fair value	2,027	1,373
Loans held for investment, net of deferred fees and costs	805,602	743,604
Less: allowance for credit losses	(9,166)	7,936
Net loans held for investment	796,436	735,668
Bank premises and equipment, net	23,927	19,587
Interest receivable	4,645	3,995
Goodwill	3,082	3,082
Bank owned life insurance	22,705	23,554
Other assets	23,937	20,153
Total Assets	1,282,419	1,245,902
Deposits:
Noninterest bearing	277,219	293,596
Interest bearing	856,691	789,781
Total deposits	1,133,910	1,083,377
Short-term debt	60,000	70,000
Long-term debt	6,922	6,890
Other liabilities	14,567	14,843
Total liabilities	1,215,399	1,175,110
Shareholders' Equity
Common stock, $5 par value, 6,000,000 shares authorized, 200,000 designated, 3,482,217 and 3,456,237 shares issued and outstanding (32,957 and 26,456 unvested restricted shares)	17,246	17,149
Additional paid in capital	10,941	10,577
Retained earnings	81,481	83,078
Accumulated other comprehensive loss	(42,648)	(40,012)
Total shareholders' equity	67,020	70,792
Total liabilities and shareholders' equity	$ 1,282,419	$ 1,245,902

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Consolidated Balance Sheets
Fair value	$ 113	$ 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	3,482,217	3,456,237
Common stock, shares outstanding	3,482,217	3,456,237
Common stock, unvested restricted shares	32,957	26,456

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Consolidated Statements of Income (Unaudited)
Interest and fees on loans held for investment	$ 12,525	$ 8,881	$ 34,896	$ 24,384
Interest and fees on loans held for sale	19	29	66	90
Interest from money market funds and federal funds sold	68	48	218	87
Interest on debt securities	2,005	2,054	6,034	5,521
Total interest and dividend income	14,617	11,012	41,214	30,082
Interest expense
Total interest on deposits	5,811	1,378	15,069	3,060
Interest from short-term debt	702	158	2,217	204
Interest from long-term debt	115	345	343	628
Total interest expense	6,628	1,881	17,629	3,892
Net interest income	7,989	9,131	23,585	26,190
Provision for Credit Losses	620	0	1,159	150
Net Interest Income After Provision for Credit Losses	7,369	9,131	22,426	26,040
Noninterest income
Service charges on deposit accounts	256	255	755	836
Investment services and insurance income	374	316	1,236	1,020
Mortgage banking income	536	666	1,619	2,647
Title insurance income	444	376	1,069	1,215
Income on bank owned life insurance	181	178	982	522
Low-income housing partnership losses	(205)	(205)	(616)	(613)
ATM and check card fee	672	628	1,971	1,823
Other operating income	269	68	629	489
Net investment securities losses			0	(97)
Total noninterest income	2,527	2,282	7,645	7,842
Noninterest expense
Salaries	4,210	4,334	13,571	12,690
Employee benefits	907	1,184	3,044	3,712
Occupancy expense	371	342	1,023	1,028
Equipment expense	357	294	1,138	918
FDIC insurance assessment	225	215	545	496
OREO expenses	0	59
Advertising expense	259	193	753	599
OREO expense			0	59
Legal and professional fees	326	294	1,235	945
ATM and check card fees	349	321	944	954
Telecommunication and data processing expense	551	619	1,926	2,205
Directors fees	124	131	409	424
Bank franchise tax	129	124	449	456
Other operating expenses	1,114	762	3,246	2,495
Total noninterest expense	8,922	8,872	28,283	26,981
Income before income taxes	974	2,541	1,788	6,901
Income tax (benefit) expense	(44)	237	(526)	280
Net Income	$ 1,018	$ 2,304	$ 2,314	$ 6,621
Per Common Share Data
Net income	$ 0.29	$ 0.67	$ 0.67	$ 1.92
Cash dividends on common stock	$ 0.26	$ 0.26	$ 0.78	$ 0.78
Weighted average common shares outstanding	3,480,670	3,453,767	3,473,911	3,447,470

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
Net Income	$ 1,018	$ 2,304	$ 2,314	$ 6,621
Other comprehensive loss:
Unrealized holding losses on available-for sale securities	(6,865)	(9,879)	(3,337)	(49,606)
Tax effect	1,442	2,075	701	10,417
Unrealized holding losses, net of tax	(5,423)	(7,804)	(2,636)	(39,189)
Less:
Reclassifications adjustment for losses included in net income	0	0	0	97
Tax effects	0	0	0	20
Realized losses on sale of available-for sale securities, net	0	0	0	77
Total other comprehensive loss	(5,423)	(7,804)	(2,636)	(39,112)
Total comprehensive loss	$ (4,405)	$ (5,500)	$ (322)	$ (32,491)

Condensed Consolidated Statemen

Condensed Consolidated Statements of Changes in Stockholders Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated other comprehensive loss
Balance, amount at Dec. 31, 2021	$ 100,456	$ 17,071	$ 10,127	$ 78,350	$ (5,092)
Net Income	6,621	0	0	6,621	0
Other comprehensive loss	(39,112)	0	0	0	(39,112)
Dividends on common stock ($.78 per share)	2,692	0	0	2,692	0
Common stock issued	213	38	175	0	0
Vesting of time based stock awards issued at date of grant, net of shares withheld for payroll taxes	56	26	30	0	0
Stock-based compensation expense	135	0	135	0	0
Balance, amount at Sep. 30, 2022	65,677	17,135	10,467	82,279	(44,204)
Balance, amount at Jun. 30, 2022	71,950	17,121	10,351	80,878	(36,400)
Net Income	2,304	0	0	2,304	0
Other comprehensive loss	(7,804)	0	0	0	(7,804)
Dividends on common stock ($.78 per share)	903	0	0	903	0
Common stock issued	69	14	55	0	0
Stock-based compensation expense	61	0	61	0	0
Balance, amount at Sep. 30, 2022	65,677	17,135	10,467	82,279	(44,204)
Balance, amount at Dec. 31, 2022	70,792	17,149	10,577	83,078	(40,012)
Net Income	2,314	0	0	2,314	0
Other comprehensive loss	(2,636)	0	0	0	(2,636)
Dividends on common stock ($.78 per share)	2,708	0	0	2,708	0
Common stock issued	239	57	182	0	0
Vesting of time based stock awards issued at date of grant, net of shares withheld for payroll taxes	28	40	(12)	0	0
Stock-based compensation expense	194	0	194	0	0
Cumulative effect adjustment due to the adoption of ASC 326, net of tax	(1,203)	0	0	(1,203)	0
Balance, amount at Sep. 30, 2023	67,020	17,246	10,941	81,481	(42,648)
Balance, amount at Jun. 30, 2023	72,194	17,228	10,822	81,369	(37,225)
Net Income	1,018	0	0	1,018	0
Other comprehensive loss	(5,423)	0	0	0	(5,423)
Dividends on common stock ($.78 per share)	906	0	0	906	0
Common stock issued	76	18	58	0	0
Stock-based compensation expense	61	0	61	0	0
Balance, amount at Sep. 30, 2023	$ 67,020	$ 17,246	$ 10,941	$ 81,481	$ (42,648)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net income	$ 2,314	$ 6,621
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	958	833
Amortization of intangibles	23	28
Amortization of securities	11,594	19,173
Proceeds from loans held for sale	93,872	116,448
Loans held for sale originated	(92,677)	(112,954)
Gain on sale of loans held for sale	(1,849)	(1,917)
Provision for credit losses	1,159	150
Increase in interest receivable	(650)	(543)
(Increase) decrease in deferred taxes	(1)	9,179
(Increase) decrease in other assets	(2,691)	1,039
Decrease in accrued expenses	(1,025)	(9,244)
Amortization of limited partnership investments	616	613
Amortization of debt issuance costs	32	107
Income from life insurance investment	(612)	(522)
Gain on life insurance investment	(370)	0
Loss on the sale of investment securities	0	97
Gain on the sale of fixed assets	(16)	(10)
Stock-based compensation expense	194	135
Loss on sale and valuation adjustments for other real estate owned and bank premises held for sale	0	59
Net cash provided by operating activities	10,871	29,292
Cash flows from investing activities
Purchase of investments available for sale and other investments	0	(108,057)
Proceeds from maturity of investments available for sale	4,825	4,000
Proceeds from the sale of investments available for sale	0	8,699
Investment in restricted stock, net	(137)	(891)
Investment in limited partnership	(200)	(220)
Net increase in loans held for investment	(62,702)	(37,753)
Proceeds from life insurance investment	1,738	0
Proceeds from the sale of fixed assets	93	27
Net purchase of property and equipment	(5,375)	(2,720)
Proceeds from the sale of other real estate owned	0	138
Net cash (used in) investing activities	(61,758)	(136,777)
Cash flows from financing activities
Net change in deposits	50,533	37,099
Net change in short-term debt	(10,000)	30,000
Dividends paid in cash	(2,708)	(2,692)
Proceeds from issuance of common stock	267	269
Repayments of long-term debt	0	(15,000)
Net cash provided by financing activities	38,092	49,676
Net decrease in Cash and Cash Equivalents	(12,795)	(57,809)
Cash and cash equivalents, beginning of period	34,953	88,121
Cash and cash equivalents, end of period	22,158	30,312
Supplemental Cash Flow information:
Cash paid for: Interest	16,709	4,031
Taxes	360	0
Supplemental non-cash disclosures:
Change in unrealized loss on securities available for sale	3,337	(49,509)
Cumulative effect of the adoption of ASC 326	1,524	0
Transfer from loans to other real estate owned	$ 0	$ 197

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 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, Augusta, and Frederick, and the cities of Harrisonburg, Staunton, Waynesboro and Winchester in Virginia. Services are provided at fourteen 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 $777,000, which is presented as a reduction to net loans outstanding, and an increase in the allowance for credit losses on unfunded loan commitments of $747,000, 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 there was no allowance for credit losses on available for sale securities. 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 September 30, 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 securities at September 30, 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 September 30, 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 September 30, 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 $3.2 million at September 30, 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 are 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 date 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 credit losses 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 shareholders 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 shareholders’ 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 October 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-06, “Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative”. This ASU incorporates certain U.S. Securities and Exchange Commission (SEC) disclosure requirements into the FASB Accounting Standards Codification. The amendments in the ASU are expected to clarify or improve disclosure and presentation requirements of a variety of Codification Topics, allow users to more easily compare entities subject to the SEC’s existing disclosures with those entities that were not previously subject to the requirements, and align the requirements in the Codification with the SEC’s regulations. For entities subject to the SEC’s existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for each amendment will be the date on which the SEC removes that related disclosure from its rules. For all other entities, the amendments will be effective two years later. However, if by June 30, 2027, the SEC has not removed the related disclosure from its regulations, the amendments will be removed from the Codification and not become effective for any entity. The Company does not expect the adoption of ASU 2023-06 to have a material impact on its consolidated financial statements. In August 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-05, “Business Combinations – Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement”. This ASU applies to the formation of entities that meet the definition of a joint venture (or a corporate joint venture) as defined in the FASB Accounting Standards Codification® Master Glossary. While joint ventures are defined in the Master Glossary, there has been no specific guidance in the Codification that applies to the formation accounting by a joint venture in its separate financial statements. The amendments in the ASU require that a joint venture apply a new basis of accounting upon formation. As a result, a newly formed joint venture, upon formation, would initially measure its assets and liabilities at fair value (with exceptions to fair value measurement that are consistent with the business combinations guidance). This ASU is effective on a prospective basis for all joint ventures with a formation date on or after January 1, 2025. Early adoption of ASU No. 2023-05 is permitted in any interim or annual period in which financial statements have not yet been issued (or made available for issuance). A joint venture that elects to early adopt may apply ASU No. 2023-05 either prospectively or retrospectively. The Company does not expect the adoption of ASU 2023-05 to have a material impact on its consolidated financial statements. In July 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-03, “Presentation of Financial Statements (Topic 205), Income Statement—Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation—Stock Compensation (Topic 718)”. This ASU amends the FASB Accounting Standards Codification for SEC paragraphs pursuant to SEC Staff Accounting Bulletin No. 120, SEC Staff Announcement at the March 24, 2022 EITF Meeting, and Staff Accounting Bulletin Topic 6.B, Accounting Series Release 280—General Revision of Regulation S-X: Income or Loss Applicable to Common Stock. ASU 2023-03 is effective upon addition to the FASB Codification. The Company does not expect the adoption of ASU 2023-03 to have a material impact on its consolidated financial statements. 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 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 London Interbank Offered Rate (“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. 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 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. 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	9 Months Ended
	Sep. 30, 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 September 30, 2023 U. S. Treasury $ 125 $ - $ 12 $ 113 December 31, 2022 U. S. Treasury $ 125 $ - $ 13 $ 112 There is no allowance for credit losses on held to maturity securities. At September 30, 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 September 30, 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 September 30, 2023 U.S. Treasury $ 39,918 $ - $ 2,912 $ 37,006 U.S. Agency 143,484 - 11,870 131,614 Municipal bonds 41,382 - 5,059 36,323 Mortgage-backed securities 171,546 161 29,988 141,719 Corporate 30,550 - 4,873 25,677 Total Securities Available for Sale $ 426,880 $ 161 $ 54,702 $ 372,339 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 September 30, 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 Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 125 $ 113 $ 25,491 $ 25,096 Due after one year through five years - - 186,744 171,180 Due after five years - - 71,573 60,115 Due after ten years - - 143,072 115,948 Total $ 125 $ 113 $ 426,880 $ 372,339 The following table presents the gross realized gains and losses on and the proceeds from the sale of securities during the three and nine months ended September 30, 2023 and 2022 (dollars in thousands): Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Realized gains (losses): Gross realized gains $ - $ - Gross realized losses - - Net realized (losses) $ - $ - Proceeds from sales of securities $ - $ - Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Realized gains (losses): Gross realized gains $ - $ - Gross realized (losses) - (97 ) Net realized (losses) $ - $ (97 ) Proceeds from sales of securities $ - $ 8,699 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 September 30, 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 September 30, 2023 U.S. Treasury $ - $ - $ 37,006 $ 2,912 $ 37,006 $ 2,912 U.S. Agency - - 131,614 11,870 131,614 11,870 Municipal bonds 5,432 593 30,890 4,466 36,322 5,059 Mortgage-backed securities - - 136,523 29,988 136,523 29,988 Corporate 1,673 327 24,004 4,546 25,677 4,873 Total $ 7,105 $ 920 $ 360,037 $ 53,782 $ 367,142 $ 54,702 Unrealized losses at September 30, 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 September 30, 2023, other investments consist of investments in twelve low-income housing and historic equity partnerships (carrying basis of $5.3 million), stock in the Federal Home Loan Bank of Atlanta (“FHLB’) (carrying basis $3.7 million) and various other investments (carrying basis $2.0 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 September 30, 2023. At September 30, 2023, the Company was committed to invest an additional $625,000 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 has pledged securities with a par value of $222.5 million and market value of $190.2 million to the Federal Reserve Discount Window Bank Term Funding Program (“BTFP”) as of September 30, 2023. The BTFP was established in March 2023 to offer loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. These assets will be valued at par. The BTFP was created to support American businesses and households by making additional funding available to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors. The Bank has not borrowed from the BTFP during 2023.

Loans and Allowance for Credit

Loans and Allowance for Credit Losses	9 Months Ended
	Sep. 30, 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 September 30, 2023 and December 31, 2022 (dollars in thousands): September 30, 2023 1-4 Family residential construction $ 34,320 Other construction, land development and land 46,027 Secured by farmland 80,502 Home equity – open end 46,351 Real estate 182,814 Home Equity – closed end 5,054 Multifamily 8,257 Owner-occupied commercial real estate 91,836 Other commercial real estate 102,216 Agricultural loans 13,299 Commercial and industrial 47,282 Credit Cards 3,316 Automobile loans 123,981 Other consumer loans 15,149 Municipal loans 5,844 Gross loans 806,248 Unamortized net deferred loan fees (646 ) Less allowance for credit losses 9,166 Net loans $ 796,436 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 $271.5 million and $209.8 million as of September 30, 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 September 30, 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 September 30, 2023 1-4 Family residential construction $ - $ - $ - $ 723 $ 33,597 $ 34,320 Other construction, land development and land - - - 545 45,482 46,027 Secured by farmland - - - 977 79,525 80,502 Home equity – open end 494 - - 225 45,632 46,351 Real estate 1,714 - - 591 180,509 182,814 Home Equity – closed end - - - - 5,054 5,054 Multifamily - - - - 8,257 8,257 Owner-occupied commercial real estate 1,328 - - - 90,508 91,836 Other commercial real estate - - - - 102,216 102,216 Agricultural loans - - - 73 13,226 13,299 Commercial and industrial 162 - 25 33 47,062 47,282 Credit Cards 59 19 4 - 3,234 3,316 Automobile loans 854 221 - 380 122,526 123,981 Other consumer loans 67 16 - 10 15,056 15,149 Municipal loans - - - - 5,844 5,844 Gross loans 4,678 256 29 3,557 797,728 806,248 Less: Unamortized net deferred loan fees - - - - (646 ) (646 ) Loans held for investment $ 4,678 $ 256 $ 29 $ 3,557 $ 797,082 $ 805,602 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 There were $3.6 million and $2.2 million in nonaccrual loans at September 30, 2023 and December 31, 2022, respectively. The Company would have earned $162,000 in the first nine months of 2023 and $103,000 in the first nine months of 2022, if interest on the nonaccrual loans had been accrued. The following table is a summary of the Company’s nonaccrual loans by major categories for the periods indicated (dollars in thousands). Information for September 30, 2023 is presented under CECL, while information for December 31, 2022 is presented in accordance with the previously applicable incurred loss methodology. CECL Incurred Loss September 30, 2023 December 31, 2022 Nonaccrual loans with No Allowance Nonaccrual Loans with an Allowance Total Nonaccrual Loans Nonaccrual Loans 1-4 Family residential construction $ 723 $ - $ 723 $ - Other construction, land development and land 545 - 545 21 Secured by farmland 977 - 977 1,458 Home equity – open end 225 - 225 - Real estate 591 - 591 419 Home Equity – closed end - - - - Multifamily - - - - Owner-occupied commercial real estate - - - - Other commercial real estate - - - - Agricultural loans 73 - 73 88 Commercial and industrial 33 - 33 13 Credit Cards - - - - Automobile loans 380 - 380 210 Other consumer loans 10 - 10 15 Municipal loans - - - - Total loans $ 3,557 $ - $ 3,557 $ 2,224 The following table represents the accrued interest receivables written off by reversing interest income during the three and nine months ended September 30, 2023 (dollars in thousands): For the Three Months Ended September 30, 2023 For the Nine Months Ended September 30, 2023 1-4 Family residential construction $ 10 $ 10 Other construction, land development and land 6 6 Secured by farmland - - Home equity – open end - 1 Real estate 1 3 Home Equity – closed end - - Multifamily - - Owner-occupied commercial real estate - - Other commercial real estate - - Agricultural loans - - Commercial and industrial - - Credit Cards - - Automobile loans 5 8 Other consumer loans - - Municipal loans - - Total loans $ 22 $ 28 Credit Quality Indicators The following table presents the Company’s recorded investment in loans by credit quality indicators by year of origination as of September 30, 2023 (dollars in thousands): Term Loans by Year of Origination 2023 2022 2021 2020 2019 Prior Revolving Total 1-4 Family residential construction Pass $ - $ - $ - $ - $ - $ - $ 33,079 $ 33,079 Watch - - - - - - 518 518 Substandard - - - - - - 723 723 Total 1-4 Family residential construction - - - - - - 34,320 34,320 Current period gross write-offs - 70 - - - - - 70 Other construction, land development and land Pass 4,343 3,903 5,753 1,862 2,883 4,957 21,339 45,040 Watch - - - - - 261 181 442 Substandard 521 - - - - 24 - 545 Total Other construction, land development and land 4,864 3,903 5,753 1,862 2,883 5,242 21,520 46,027 Current period gross write-offs - - - - - - - - Secured by farmland Pass 6,395 15,174 14,149 27,475 2,533 6,530 5,553 77,809 Watch - - - - 790 910 - 1,700 Substandard - - 325 - - 652 16 993 Total Secured by farmland 6,395 15,174 14,474 27,475 3,323 8,092 5,569 80,502 Current period gross write-offs - - - - - - - - Home equity – open end Pass 370 - - - - 143 44,182 44,695 Watch - - - - - - 1,381 1,381 Substandard - - - - - - 275 275 Total Home equity - open end 370 - - - - 143 45,838 46,351 Current period gross write-offs - - - - - - - - Real estate Pass 36,704 44,780 15,382 12,310 6,555 56,434 192 172,357 Watch - - - 502 155 5,784 - 6,441 Substandard - 90 542 - 1,218 2,166 - 4,016 Total Real estate 36,704 44,870 15,924 12,812 7,928 64,384 192 182,814 Current period gross write-offs - - - - - 19 - 19 Home Equity – closed end Pass 1,059 391 121 1,067 473 1,560 - 4,671 Watch - - - - - 371 - 371 Substandard - - - - 12 - - 12 Total Home Equity - closed end 1,059 391 121 1,067 485 1,931 - 5,054 Current period gross write-offs - - - - - - - - Multifamily Pass - 2,730 1,414 916 - 1,590 1,504 8,154 Watch - - - - - 103 - 103 Substandard - - - - - - - - Total Multifamily - 2,730 1,414 916 - 1,693 1,504 8,257 Current period gross write-offs - - - - - - - - Owner-occupied commercial real estate Pass 2,165 18,342 18,132 7,208 3,649 23,487 5,891 78,874 Watch - - - - 40 2,108 - 2,148 Substandard - - - - 6,323 1,193 3,298 10,814 Total Owner-occupied commercial real estate 2,165 18,342 18,132 7,208 10,012 26,788 9,189 91,836 Current period gross write-offs - - - - - - - - Other commercial real estate Pass 4,148 30,132 12,895 5,059 3,825 31,048 3,229 90,336 Watch - - - - - 11,793 - 11,793 Substandard - - - - - 87 - 87 Total Other commercial real estate 4,148 30,132 12,895 5,059 3,825 42,928 3,229 102,216 Current period gross write-offs - - - - - - - - Term Loans by Year of Origination 2023 2022 2021 2020 2019 Prior Revolving Total Agricultural loans Pass 2,869 2,719 627 453 - 38 6,333 13,039 Watch - - - 37 - - 150 187 Substandard - 48 14 11 - - - 73 Total Agricultural loans 2,869 2,767 641 501 - 38 6,483 13,299 Current period gross write-offs - - - - - - - - Commercial and industrial Pass 4,971 8,901 5,790 1,914 806 369 16,571 39,322 Watch - 48 57 - - - 7,167 7,272 Substandard - 33 628 25 - 2 - 688 Total 1-4 Commercial and industrial 4,971 8,982 6,475 1,939 806 371 23,738 47,282 Current period gross write-offs - - - - - 2 - 2 Credit Cards Pass - - - - - - 3,312 3,312 Watch - - - - - - - - Substandard - - - - - - 4 4 Total Credit cards - - - - - - 3,316 3,316 Current period gross write-offs - - - - - - 25 25 Automobile loans Pass 46,565 42,147 21,824 8,772 2,755 1,019 - 123,082 Watch 199 130 48 43 53 46 - 519 Substandard 30 124 187 30 4 5 - 380 Total Automobile loans 46,794 42,401 22,059 8,845 2,812 1,070 - 123,981 Current period gross write-offs 88 424 386 105 32 25 - 1,060 Other consumer loans Pass 4,521 5,619 2,587 1,062 307 532 473 15,101 Watch - 4 23 - 2 3 1 33 Substandard - 10 - - 5 - - 15 Total Other consumer loans 4,521 5,633 2,610 1,062 314 535 474 15,149 Current period gross write-offs - 56 1 2 6 2 - 67 Municipal loans Pass - 170 973 1,128 1,257 2,316 - 5,844 Watch - - - - - - - - Substandard - - - - - - - - Total Municipal loans - 170 973 1,128 1,257 2,316 - 5,844 Current period gross write-offs - - - - - - - - Total loans $ 114,860 $ 175,495 $ 101,471 $ 69,874 $ 33,645 $ 155,531 $ 155,372 $ 806,248 Less: Unamortized net deferred loan fees (646 ) Loans held for investment $ 805,602 Current period gross write-offs $ 88 $ 550 $ 387 $ 107 $ 38 $ 48 $ 25 $ 1,243 Under the adoption of ASC 326, the Company consolidated its 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 collateral method is applied to individually evaluated loans for which foreclosure is probable. The collateral method is also applied to individually evaluated loans when borrowers are experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. 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 September 30, 2023 (dollars in thousands): September 30, 2023 Real Estate Business/ Other Assets 1-4 Family residential construction $ - $ - Other construction, land development and land 521 - 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 $ 521 $ - Allowance for Credit Losses The following tables summarize the activity related to the allowance for credit losses for the nine months ended September 30, 2023 under the CECL methodology (dollars in thousands). ACL for Loans December 31, 2022 Adjustment for adoption of ASU 2016-13 Charge-offs Recoveries Provision for loan credit losses September 30, 2023 1-4 Family residential construction $ 324 $ 109 $ 70 $ 1 $ 154 $ 518 Other construction, land development and land 694 602 - - 148 1,444 Secured by farmland 571 311 - - 67 949 Home equity – open end 446 (189 ) - - - 257 Real estate 1,389 (184 ) 19 - 68 1,254 Home Equity – closed end 39 96 - - 14 149 Multifamily 71 182 - - (45 ) 208 Owner-occupied commercial real estate 992 280 - - (39 ) 1,233 Other commercial real estate 1,023 (582 ) - - (5 ) 436 Agricultural loans 80 (58 ) - - 2 24 Commercial and industrial 368 338 2 1 67 772 Credit Cards 68 26 25 20 2 91 Automobile loans 1,790 (257 ) 1,060 475 535 1,483 Other consumer loans 81 103 67 42 189 348 Municipal loans - - - - - - Total loans $ 7,936 $ 777 $ 1,243 $ 539 $ 1,157 $ 9,166 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). September 30, 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 $ - $ - $ 77 $ 1,054 $ 228 $ 826 Farmland 448 - - 77 525 - 525 Real Estate 1,162 17 - (4 ) 1,141 99 1,042 Multi-Family 29 - - 27 56 - 56 Commercial Real Estate 2,205 - - (398 ) 1,807 21 1,786 Home Equity – closed end 41 - - (7 ) 34 - 34 Home Equity – open end 407 - 130 (141 ) 396 - 396 Commercial & Industrial – Non-Real Estate 288 36 44 102 398 - 398 Consumer 520 147 21 (137 ) 257 - 257 Dealer Finance 1,601 794 445 518 1,770 13 1,757 Credit Cards 70 42 11 36 75 - 75 Total $ 7,748 $ 1,036 $ 651 $ 150 $ 7,513 $ 361 $ 7,152 The following tables presents, as of September 30, 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). September 30, 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 $ - $ 34,320 $ 34,320 $ - $ 518 $ 518 Other construction, land development and land 521 45,506 46,027 228 1,216 1,444 Secured by farmland - 80,502 80,502 - 949 949 Home equity – open end - 46,351 46,351 - 257 257 Real estate - 182,814 182,814 - 1,254 1,254 Home Equity – closed end - 5,054 5,054 - 149 149 Multifamily - 8,257 8,257 - 208 208 Owner-occupied commercial real estate - 91,836 91,836 - 1,233 1,233 Other commercial real estate - 102,216 102,216 - 436 436 Agricultural loans - 13,299 13,299 - 24 24 Commercial and industrial - 47,282 47,282 - 772 772 Credit Cards - 3,316 3,316 - 91 91 Automobile loans - 123,981 123,981 - 1,483 1,483 Other consumer loans - 15,149 15,149 - 348 348 Municipal loans - 5,844 5,844 - - - Total loans $ 521 $ 805,727 $ 806,248 $ 228 $ 8,938 $ 9,166 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 $500,000 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 nine-month period ended September 30, 2022 (dollars in thousands): Nine Months Ended September, 30, 2022 Average Recorded Interest Income Investment Recognized Impaired loans with no related allowance recorded: Construction/Land Development $ 552 $ 15 Farmland 2,188 151 Real Estate 2,290 75 Multi-Family - - Commercial Real Estate 8,339 266 Home Equity – closed end 74 - Home Equity – open end - - Commercial & Industrial – Non-Real Estate - - Consumer 3 - Credit Cards - - Dealer Finance 11 1 13,457 508 Impaired loans with an allowance recorded: Construction/Land Development $ 261 $ 17 Farmland - - Real Estate 1,309 49 Multi-Family - - Commercial Real Estate 3,496 34 Home Equity – closed end - - Home Equity – open end - - Commercial & Industrial – Non-Real Estate - - Consumer - - Credit Card - - Dealer Finance 81 5 5,147 105 Total Impaired Loans $ 18,604 $ 613 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. There were no loans modified to a borrower experiencing financial difficulty in the three months ended September 30, 2023. There was one loan modified to a borrower experiencing financial difficulty in the nine months ended September 30, 2023 (see table below, dollars in thousands). There were no loans that had a payment default during the quarter that were modified in the previous 12 months. Nine months ending September 30, 2023 Term Extension Amortized Cost Weighted Average Term Extension (Months) Automobile loans $ 21 3 Total loans $ 21 3 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 - 16 - Home Equity – closed end - - - Multifamily - - - Owner-occupied commercial real estate - - - Other commercial real estate - - - Agricultural loans - - - Commercial and industrial - - - Credit Cards - - - Automobile loans 37 - - Other consumer loans - - - Municipal loans - - - Total loans $ 37 $ 16 $ - 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 $749,000 at September 30, 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 nine months ended September 30, 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 credit losses 2 Balance, September 30, 2023 $ 749

Mortgage Banking and Derivative

Mortgage Banking and Derivatives	9 Months Ended
	Sep. 30, 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 $2.0 million as of September 30, 2023 of which $2.0 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 September 30, 2023, and totaled $21,000, with a notional amount of $13.3 million and total positions of 42. The fair value of the IRLCs were reported in the “Other liabilities” in the Consolidated Balance Sheet at December 31, 2022 and totaled $92,000, 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 September 30, 2023 and 2022. The Company’s IRLCs are classified as Level 2. At September 30, 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 September 30, 2023 and totaled $122,000, with a notional amount of $15.3 million and total positions of 48. The fair value of forward sales commitments was reported in “Other Assets” in the Consolidated Balance Sheet at December 31, 2022 and totaled $186,000, with a notional amount of $13.6 million and total positions of 43.

Employee Benefit Plan

Employee Benefit Plan	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Service cost $ - $ 190 $ - $ 570 Interest cost 92 104 276 312 Expected return on plan assets (130 ) - (390 ) - Amortization of prior service cost - (195 ) - (585 ) Amortization of net loss - 58 - 174 Net periodic pension cost $ (38 ) $ 157 $ (114 ) $ 471

StockBased Compensation

StockBased Compensation	9 Months Ended
	Sep. 30, 2023
StockBased 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 $526,000 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 $29,000 to directors that vested upon issuance. There were 6,974 shares vested, less 96 shares netted for taxes, during the nine months ended September 30, 2023. There were 529 shares forfeited in the three months ended September 30, 2023. Unrecognized compensation expense related to the nonvested restricted stock as of September 30, 2023 totaled $638,000.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 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 September 30, 2023 and December 31, 2022 (dollars in thousands): Fair Value Measurements Using: Balance at September 30, 2023 Level 1 Level 2 Level 3 Assets: Loans held for sale, F&M Mortgage $ 2,027 $ - $ 2,027 $ - U.S. Treasury 37,006 - 37,006 - U.S. Agency 131,614 - 131,614 - Municipal bonds 36,323 - 36,323 - Mortgage-backed securities 141,719 - 141,719 - Corporate 25,677 - 25,677 - IRLC 122 - 122 - Forward Sales Commitments 21 - 21 - Assets at Fair Value $ 374,509 $ - $ 374,509 $ - 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 September 30, 2023 Level 1 Level 2 Level 3 Other construction, land development and land $ 293 $ - $ - $ 293 Total collateral dependent loans with an ACL $ 293 $ - $ - $ 293 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 September 30, 2023 and December 31, 2022 (dollars in thousands): Fair Value at September 30, 2023 Valuation Technique Significant Unobservable Inputs Range Collateral Dependent Loans $ 293 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 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 September 30, 2023 or December 31, 2022.

Disclosures about Fair Value of

Disclosures about Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 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 September 30, 2023 and December 31, 2022. Fair values for September 30, 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 September 30, 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 September 30, 2023 Assets: Cash and cash equivalents $ 22,158 $ 22,158 $ - $ - $ 22,158 Securities available for sale 372,339 - 372,339 - 372,339 Securities held to maturity 125 - 113 - 113 Loans held for sale 2,027 - 2,027 - 2,027 Loans held for investment, net 805,602 - - 773,821 773,821 Interest receivable 4,645 - 4,645 - 4,645 Bank owned life insurance 22,705 - 22,705 - 22,705 IRLC 122 - 122 - 122 Forward sales commitments 21 - 21 - 21 Total $ 1,229,744 $ 22,158 $ 401,972 $ 773,821 $ 1,197,951 Liabilities: Deposits $ 1,133,910 $ - $ 1,131,833 $ - $ 1,133,833 Short-term debt 60,000 - - 60,000 60,000 Long-term debt 6,922 - - 6,656 6,656 Interest payable 1,215 - 1,215 - 1,215 Total $ 1,202,047 $ - $ 1,133,048 $ 66,656 $ 1,199,704 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	9 Months Ended
	Sep. 30, 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). For the three months ended September 30, 2023 Unrealized Securities Gains (Losses) Adjustments Related to Pension Plan Accumulated Other Comprehensive Loss Balance at June 30, 2023 $ (37,664 ) $ 439 $ (37,225 ) Change in unrealized securities gains (losses), net of tax benefit of $1,442 (5,423 ) - (5,423 ) Balance at September 30, 2023 $ (43,087 ) $ 439 $ (42,648 ) For the three months ended September 30, 2022 Unrealized Securities Gains (Losses) Adjustments Related to Pension Plan Accumulated Other Comprehensive Loss Balance at June 30, 2022 $ (33,109 ) $ (3,291 ) $ (36,400 ) Change in unrealized securities gains (losses), net of tax benefit of $2,075 (7,804 ) - (7,804 ) Balance at September 30, 2022 $ (40,913 ) $ (3,291 ) $ (44,204 ) For the nine months ended September 30, 2023 Unrealized Securities Gains (Losses) Adjustments Related to Pension Plan Accumulated Other Comprehensive Loss Balance at December 31, 2022 $ (40,451 ) $ 439 $ (40,012 ) Change in unrealized securities gains, net of tax expense of $701 (2,636 ) - (2,636 ) Balance at September 30, 2023 $ (43,087 ) $ 439 $ (42,648 ) For the nine months ended September 30, 2022 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 $10,417 (39,189 ) - (39,189 ) Reclassification for previously unrealized net losses recognized in net income, net of tax benefit of $20 77 - 77 Balance at September 30, 2022 $ (40,913 ) $ (3,291 ) $ (44,204 ) There were no reclassifications adjustments reported on the consolidated statements of income during the three and nine months ended September 30, 2023.

Debt

Debt	9 Months Ended
	Sep. 30, 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 $60.0 million in short-term debt at September 30, 2023 and $70.0 million in 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 note due July 31, 2030. The note initially bears 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 September 30, 2023.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2023
Revenue Recognition
Revenue Recognition	Note 11. Revenue Recognition Topic 606 is applicable to noninterest revenue streams such as deposit related fees, interchange fees, merchant income, and annuity and insurance commissions. Substantially all the Company’s revenue is generated from contracts with customers. 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. 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 and nine months ended September 30, 2023 and 2022 (dollars in thousands). Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Noninterest Income In-scope of Topic 606: Service Charges on Deposits $ 256 $ 255 $ 755 $ 836 Investment Services and Insurance Income 374 316 1,236 1,020 Title Insurance Income 444 376 1,069 1,215 ATM and check card fees 672 628 1,971 1,823 Other 268 173 628 668 Noninterest Income (in-scope of Topic 606) 2,014 1,748 5,659 5,562 Noninterest Income (out-of-scope of Topic 606) 513 534 1,986 2,280 Total Noninterest Income $ 2,527 $ 2,282 $ 7,645 $ 7,842 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 September 30, 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	9 Months Ended
	Sep. 30, 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): September 30, 2023 Lease Liabilities $ 773 Right-of-use assets $ 755 Weighted average remaining lease term (years) 1.77 years Weighted average discount rate 3.30 % For the Three Months Ended For the Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Operating lease cost $ 40 $ 75 $ 123 $ 169 Total lease cost $ 40 $ 75 $ 123 $ 169 Cash paid for amounts included in the measurement of lease liabilities $ 44 $ 100 $ 149 $ 205 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): September 30, 2023 Three months ending December 31, 2023 $ 44 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 $ 919 Discount 146 Lease liabilities $ 773

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events
Subsequent Events	Note 13. Subsequent Events On October 23, 2023 the Bank filed documents for the dissolution of TEB Life Insurance Company with the Arizona Corporation Commission. TEB has made accommodations to extinguish all remaining insurance obligations and has no insurance obligations by direct writing. The Bank plans for the dissolution to be finalized by December 31, 2023. On November 7, 2023 the Company announced they are offering an early retirement program to certain employees during the fourth quarter of 2023. The maximum potential one-time expense associated with this program is currently estimated to be $1,812,427. The Company cannot predict at this time how many employees will choose to participate or whether the expense associated with the program will be less than $1,812,427. The Company expects to recognize all expenses associated with the early retirement program during the fourth quarter ending December 31, 2023.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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, Augusta, and Frederick, and the cities of Harrisonburg, Staunton, Waynesboro and Winchester in Virginia. Services are provided at fourteen 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 $777,000, which is presented as a reduction to net loans outstanding, and an increase in the allowance for credit losses on unfunded loan commitments of $747,000, 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 there was no allowance for credit losses on available for sale securities. 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 September 30, 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 securities at September 30, 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 September 30, 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 September 30, 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 $3.2 million at September 30, 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 are 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 date 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 credit losses 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 shareholders 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 shareholders’ 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 October 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-06, “Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative”. This ASU incorporates certain U.S. Securities and Exchange Commission (SEC) disclosure requirements into the FASB Accounting Standards Codification. The amendments in the ASU are expected to clarify or improve disclosure and presentation requirements of a variety of Codification Topics, allow users to more easily compare entities subject to the SEC’s existing disclosures with those entities that were not previously subject to the requirements, and align the requirements in the Codification with the SEC’s regulations. For entities subject to the SEC’s existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for each amendment will be the date on which the SEC removes that related disclosure from its rules. For all other entities, the amendments will be effective two years later. However, if by June 30, 2027, the SEC has not removed the related disclosure from its regulations, the amendments will be removed from the Codification and not become effective for any entity. The Company does not expect the adoption of ASU 2023-06 to have a material impact on its consolidated financial statements. In August 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-05, “Business Combinations – Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement”. This ASU applies to the formation of entities that meet the definition of a joint venture (or a corporate joint venture) as defined in the FASB Accounting Standards Codification® Master Glossary. While joint ventures are defined in the Master Glossary, there has been no specific guidance in the Codification that applies to the formation accounting by a joint venture in its separate financial statements. The amendments in the ASU require that a joint venture apply a new basis of accounting upon formation. As a result, a newly formed joint venture, upon formation, would initially measure its assets and liabilities at fair value (with exceptions to fair value measurement that are consistent with the business combinations guidance). This ASU is effective on a prospective basis for all joint ventures with a formation date on or after January 1, 2025. Early adoption of ASU No. 2023-05 is permitted in any interim or annual period in which financial statements have not yet been issued (or made available for issuance). A joint venture that elects to early adopt may apply ASU No. 2023-05 either prospectively or retrospectively. The Company does not expect the adoption of ASU 2023-05 to have a material impact on its consolidated financial statements. In July 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-03, “Presentation of Financial Statements (Topic 205), Income Statement—Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation—Stock Compensation (Topic 718)”. This ASU amends the FASB Accounting Standards Codification for SEC paragraphs pursuant to SEC Staff Accounting Bulletin No. 120, SEC Staff Announcement at the March 24, 2022 EITF Meeting, and Staff Accounting Bulletin Topic 6.B, Accounting Series Release 280—General Revision of Regulation S-X: Income or Loss Applicable to Common Stock. ASU 2023-03 is effective upon addition to the FASB Codification. The Company does not expect the adoption of ASU 2023-03 to have a material impact on its consolidated financial statements. 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 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 London Interbank Offered Rate (“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. 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 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. 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)	9 Months Ended
	Sep. 30, 2023
Investment Securities
Schedule Of Amortized Cost And Fair Value For Securities	Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value September 30, 2023 U. S. Treasury $ 125 $ - $ 12 $ 113 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 September 30, 2023 U.S. Treasury $ 39,918 $ - $ 2,912 $ 37,006 U.S. Agency 143,484 - 11,870 131,614 Municipal bonds 41,382 - 5,059 36,323 Mortgage-backed securities 171,546 161 29,988 141,719 Corporate 30,550 - 4,873 25,677 Total Securities Available for Sale $ 426,880 $ 161 $ 54,702 $ 372,339 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 Cost Fair Value Amortized Cost Fair Value Due in one year or less $ 125 $ 113 $ 25,491 $ 25,096 Due after one year through five years - - 186,744 171,180 Due after five years - - 71,573 60,115 Due after ten years - - 143,072 115,948 Total $ 125 $ 113 $ 426,880 $ 372,339
Schedule Of Rrealized Losses	Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Realized gains (losses): Gross realized gains $ - $ - Gross realized losses - - Net realized (losses) $ - $ - Proceeds from sales of securities $ - $ - Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Realized gains (losses): Gross realized gains $ - $ - Gross realized (losses) - (97 ) Net realized (losses) $ - $ (97 ) Proceeds from sales of securities $ - $ 8,699
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 September 30, 2023 U.S. Treasury $ - $ - $ 37,006 $ 2,912 $ 37,006 $ 2,912 U.S. Agency - - 131,614 11,870 131,614 11,870 Municipal bonds 5,432 593 30,890 4,466 36,322 5,059 Mortgage-backed securities - - 136,523 29,988 136,523 29,988 Corporate 1,673 327 24,004 4,546 25,677 4,873 Total $ 7,105 $ 920 $ 360,037 $ 53,782 $ 367,142 $ 54,702 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)	9 Months Ended
	Sep. 30, 2023
Loans and Allowance for Credit Losses
Schedule Of Loans Outstanding	September 30, 2023 1-4 Family residential construction $ 34,320 Other construction, land development and land 46,027 Secured by farmland 80,502 Home equity – open end 46,351 Real estate 182,814 Home Equity – closed end 5,054 Multifamily 8,257 Owner-occupied commercial real estate 91,836 Other commercial real estate 102,216 Agricultural loans 13,299 Commercial and industrial 47,282 Credit Cards 3,316 Automobile loans 123,981 Other consumer loans 15,149 Municipal loans 5,844 Gross loans 806,248 Unamortized net deferred loan fees (646 ) Less allowance for credit losses 9,166 Net loans $ 796,436 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 September 30, 2023 1-4 Family residential construction $ - $ - $ - $ 723 $ 33,597 $ 34,320 Other construction, land development and land - - - 545 45,482 46,027 Secured by farmland - - - 977 79,525 80,502 Home equity – open end 494 - - 225 45,632 46,351 Real estate 1,714 - - 591 180,509 182,814 Home Equity – closed end - - - - 5,054 5,054 Multifamily - - - - 8,257 8,257 Owner-occupied commercial real estate 1,328 - - - 90,508 91,836 Other commercial real estate - - - - 102,216 102,216 Agricultural loans - - - 73 13,226 13,299 Commercial and industrial 162 - 25 33 47,062 47,282 Credit Cards 59 19 4 - 3,234 3,316 Automobile loans 854 221 - 380 122,526 123,981 Other consumer loans 67 16 - 10 15,056 15,149 Municipal loans - - - - 5,844 5,844 Gross loans 4,678 256 29 3,557 797,728 806,248 Less: Unamortized net deferred loan fees - - - - (646 ) (646 ) Loans held for investment $ 4,678 $ 256 $ 29 $ 3,557 $ 797,082 $ 805,602 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 September 30, 2023 December 31, 2022 Nonaccrual loans with No Allowance Nonaccrual Loans with an Allowance Total Nonaccrual Loans Nonaccrual Loans 1-4 Family residential construction $ 723 $ - $ 723 $ - Other construction, land development and land 545 - 545 21 Secured by farmland 977 - 977 1,458 Home equity – open end 225 - 225 - Real estate 591 - 591 419 Home Equity – closed end - - - - Multifamily - - - - Owner-occupied commercial real estate - - - - Other commercial real estate - - - - Agricultural loans 73 - 73 88 Commercial and industrial 33 - 33 13 Credit Cards - - - - Automobile loans 380 - 380 210 Other consumer loans 10 - 10 15 Municipal loans - - - - Total loans $ 3,557 $ - $ 3,557 $ 2,224
Summary Of accrued interest receivables	For the Three Months Ended September 30, 2023 For the Nine Months Ended September 30, 2023 1-4 Family residential construction $ 10 $ 10 Other construction, land development and land 6 6 Secured by farmland - - Home equity – open end - 1 Real estate 1 3 Home Equity – closed end - - Multifamily - - Owner-occupied commercial real estate - - Other commercial real estate - - Agricultural loans - - Commercial and industrial - - Credit Cards - - Automobile loans 5 8 Other consumer loans - - Municipal loans - - Total loans $ 22 $ 28
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 $ - $ - $ - $ - $ - $ - $ 33,079 $ 33,079 Watch - - - - - - 518 518 Substandard - - - - - - 723 723 Total 1-4 Family residential construction - - - - - - 34,320 34,320 Current period gross write-offs - 70 - - - - - 70 Other construction, land development and land Pass 4,343 3,903 5,753 1,862 2,883 4,957 21,339 45,040 Watch - - - - - 261 181 442 Substandard 521 - - - - 24 - 545 Total Other construction, land development and land 4,864 3,903 5,753 1,862 2,883 5,242 21,520 46,027 Current period gross write-offs - - - - - - - - Secured by farmland Pass 6,395 15,174 14,149 27,475 2,533 6,530 5,553 77,809 Watch - - - - 790 910 - 1,700 Substandard - - 325 - - 652 16 993 Total Secured by farmland 6,395 15,174 14,474 27,475 3,323 8,092 5,569 80,502 Current period gross write-offs - - - - - - - - Home equity – open end Pass 370 - - - - 143 44,182 44,695 Watch - - - - - - 1,381 1,381 Substandard - - - - - - 275 275 Total Home equity - open end 370 - - - - 143 45,838 46,351 Current period gross write-offs - - - - - - - - Real estate Pass 36,704 44,780 15,382 12,310 6,555 56,434 192 172,357 Watch - - - 502 155 5,784 - 6,441 Substandard - 90 542 - 1,218 2,166 - 4,016 Total Real estate 36,704 44,870 15,924 12,812 7,928 64,384 192 182,814 Current period gross write-offs - - - - - 19 - 19 Home Equity – closed end Pass 1,059 391 121 1,067 473 1,560 - 4,671 Watch - - - - - 371 - 371 Substandard - - - - 12 - - 12 Total Home Equity - closed end 1,059 391 121 1,067 485 1,931 - 5,054 Current period gross write-offs - - - - - - - - Multifamily Pass - 2,730 1,414 916 - 1,590 1,504 8,154 Watch - - - - - 103 - 103 Substandard - - - - - - - - Total Multifamily - 2,730 1,414 916 - 1,693 1,504 8,257 Current period gross write-offs - - - - - - - - Owner-occupied commercial real estate Pass 2,165 18,342 18,132 7,208 3,649 23,487 5,891 78,874 Watch - - - - 40 2,108 - 2,148 Substandard - - - - 6,323 1,193 3,298 10,814 Total Owner-occupied commercial real estate 2,165 18,342 18,132 7,208 10,012 26,788 9,189 91,836 Current period gross write-offs - - - - - - - - Other commercial real estate Pass 4,148 30,132 12,895 5,059 3,825 31,048 3,229 90,336 Watch - - - - - 11,793 - 11,793 Substandard - - - - - 87 - 87 Total Other commercial real estate 4,148 30,132 12,895 5,059 3,825 42,928 3,229 102,216 Current period gross write-offs - - - - - - - - Term Loans by Year of Origination 2023 2022 2021 2020 2019 Prior Revolving Total Agricultural loans Pass 2,869 2,719 627 453 - 38 6,333 13,039 Watch - - - 37 - - 150 187 Substandard - 48 14 11 - - - 73 Total Agricultural loans 2,869 2,767 641 501 - 38 6,483 13,299 Current period gross write-offs - - - - - - - - Commercial and industrial Pass 4,971 8,901 5,790 1,914 806 369 16,571 39,322 Watch - 48 57 - - - 7,167 7,272 Substandard - 33 628 25 - 2 - 688 Total 1-4 Commercial and industrial 4,971 8,982 6,475 1,939 806 371 23,738 47,282 Current period gross write-offs - - - - - 2 - 2 Credit Cards Pass - - - - - - 3,312 3,312 Watch - - - - - - - - Substandard - - - - - - 4 4 Total Credit cards - - - - - - 3,316 3,316 Current period gross write-offs - - - - - - 25 25 Automobile loans Pass 46,565 42,147 21,824 8,772 2,755 1,019 - 123,082 Watch 199 130 48 43 53 46 - 519 Substandard 30 124 187 30 4 5 - 380 Total Automobile loans 46,794 42,401 22,059 8,845 2,812 1,070 - 123,981 Current period gross write-offs 88 424 386 105 32 25 - 1,060 Other consumer loans Pass 4,521 5,619 2,587 1,062 307 532 473 15,101 Watch - 4 23 - 2 3 1 33 Substandard - 10 - - 5 - - 15 Total Other consumer loans 4,521 5,633 2,610 1,062 314 535 474 15,149 Current period gross write-offs - 56 1 2 6 2 - 67 Municipal loans Pass - 170 973 1,128 1,257 2,316 - 5,844 Watch - - - - - - - - Substandard - - - - - - - - Total Municipal loans - 170 973 1,128 1,257 2,316 - 5,844 Current period gross write-offs - - - - - - - - Total loans $ 114,860 $ 175,495 $ 101,471 $ 69,874 $ 33,645 $ 155,531 $ 155,372 $ 806,248 Less: Unamortized net deferred loan fees (646 ) Loans held for investment $ 805,602 Current period gross write-offs $ 88 $ 550 $ 387 $ 107 $ 38 $ 48 $ 25 $ 1,243
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	September 30, 2023 Real Estate Business/ Other Assets 1-4 Family residential construction $ - $ - Other construction, land development and land 521 - 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 $ 521 $ -
Summary Of Allowance for Credit Losses	December 31, 2022 Adjustment for adoption of ASU 2016-13 Charge-offs Recoveries Provision for loan credit losses September 30, 2023 1-4 Family residential construction $ 324 $ 109 $ 70 $ 1 $ 154 $ 518 Other construction, land development and land 694 602 - - 148 1,444 Secured by farmland 571 311 - - 67 949 Home equity – open end 446 (189 ) - - - 257 Real estate 1,389 (184 ) 19 - 68 1,254 Home Equity – closed end 39 96 - - 14 149 Multifamily 71 182 - - (45 ) 208 Owner-occupied commercial real estate 992 280 - - (39 ) 1,233 Other commercial real estate 1,023 (582 ) - - (5 ) 436 Agricultural loans 80 (58 ) - - 2 24 Commercial and industrial 368 338 2 1 67 772 Credit Cards 68 26 25 20 2 91 Automobile loans 1,790 (257 ) 1,060 475 535 1,483 Other consumer loans 81 103 67 42 189 348 Municipal loans - - - - - - Total loans $ 7,936 $ 777 $ 1,243 $ 539 $ 1,157 $ 9,166 September 30, 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 $ - $ - $ 77 $ 1,054 $ 228 $ 826 Farmland 448 - - 77 525 - 525 Real Estate 1,162 17 - (4 ) 1,141 99 1,042 Multi-Family 29 - - 27 56 - 56 Commercial Real Estate 2,205 - - (398 ) 1,807 21 1,786 Home Equity – closed end 41 - - (7 ) 34 - 34 Home Equity – open end 407 - 130 (141 ) 396 - 396 Commercial & Industrial – Non-Real Estate 288 36 44 102 398 - 398 Consumer 520 147 21 (137 ) 257 - 257 Dealer Finance 1,601 794 445 518 1,770 13 1,757 Credit Cards 70 42 11 36 75 - 75 Total $ 7,748 $ 1,036 $ 651 $ 150 $ 7,513 $ 361 $ 7,152
Summary Of segregated loan portfolio segment	September 30, 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 $ - $ 34,320 $ 34,320 $ - $ 518 $ 518 Other construction, land development and land 521 45,506 46,027 228 1,216 1,444 Secured by farmland - 80,502 80,502 - 949 949 Home equity – open end - 46,351 46,351 - 257 257 Real estate - 182,814 182,814 - 1,254 1,254 Home Equity – closed end - 5,054 5,054 - 149 149 Multifamily - 8,257 8,257 - 208 208 Owner-occupied commercial real estate - 91,836 91,836 - 1,233 1,233 Other commercial real estate - 102,216 102,216 - 436 436 Agricultural loans - 13,299 13,299 - 24 24 Commercial and industrial - 47,282 47,282 - 772 772 Credit Cards - 3,316 3,316 - 91 91 Automobile loans - 123,981 123,981 - 1,483 1,483 Other consumer loans - 15,149 15,149 - 348 348 Municipal loans - 5,844 5,844 - - - Total loans $ 521 $ 805,727 $ 806,248 $ 228 $ 8,938 $ 9,166 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 Nine Months Ended September, 30, 2022 Average Recorded Interest Income Investment Recognized Impaired loans with no related allowance recorded: Construction/Land Development $ 552 $ 15 Farmland 2,188 151 Real Estate 2,290 75 Multi-Family - - Commercial Real Estate 8,339 266 Home Equity – closed end 74 - Home Equity – open end - - Commercial & Industrial – Non-Real Estate - - Consumer 3 - Credit Cards - - Dealer Finance 11 1 13,457 508 Impaired loans with an allowance recorded: Construction/Land Development $ 261 $ 17 Farmland - - Real Estate 1,309 49 Multi-Family - - Commercial Real Estate 3,496 34 Home Equity – closed end - - Home Equity – open end - - Commercial & Industrial – Non-Real Estate - - Consumer - - Credit Card - - Dealer Finance 81 5 5,147 105 Total Impaired Loans $ 18,604 $ 613
Schedule Of modified to borrowers experiencing	Nine months ending September 30, 2023 Term Extension Amortized Cost Weighted Average Term Extension (Months) Automobile loans $ 21 3 Total loans $ 21 3 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 - 16 - Home Equity – closed end - - - Multifamily - - - Owner-occupied commercial real estate - - - Other commercial real estate - - - Agricultural loans - - - Commercial and industrial - - - Credit Cards - - - Automobile loans 37 - - Other consumer loans - - - Municipal loans - - - Total loans $ 37 $ 16 $ -
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 credit losses 2 Balance, September 30, 2023 $ 749

Employee Benefit Plan (Tables)

Employee Benefit Plan (Tables)	9 Months Ended
	Sep. 30, 2023
Employee Benefit Plan
Schedule Of Employee Benefit Plan	Three Months Ended Nine Months Ended September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Service cost $ - $ 190 $ - $ 570 Interest cost 92 104 276 312 Expected return on plan assets (130 ) - (390 ) - Amortization of prior service cost - (195 ) - (585 ) Amortization of net loss - 58 - 174 Net periodic pension cost $ (38 ) $ 157 $ (114 ) $ 471

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value
Schedule Of Assets And Liabilities At Fair Value On Recurring Basis	Fair Value Measurements Using: Balance at September 30, 2023 Level 1 Level 2 Level 3 Assets: Loans held for sale, F&M Mortgage $ 2,027 $ - $ 2,027 $ - U.S. Treasury 37,006 - 37,006 - U.S. Agency 131,614 - 131,614 - Municipal bonds 36,323 - 36,323 - Mortgage-backed securities 141,719 - 141,719 - Corporate 25,677 - 25,677 - IRLC 122 - 122 - Forward Sales Commitments 21 - 21 - Assets at Fair Value $ 374,509 $ - $ 374,509 $ - 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 September 30, 2023 Level 1 Level 2 Level 3 Other construction, land development and land $ 293 $ - $ - $ 293 Total collateral dependent loans with an ACL $ 293 $ - $ - $ 293 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 September 30, 2023 Valuation Technique Significant Unobservable Inputs Range Collateral Dependent Loans $ 293 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 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)	9 Months Ended
	Sep. 30, 2023
Disclosures about Fair Value of Financial Instruments
Schedule Of Carrying Value And Estimated Fair Value For Financial Instruments	Fair Value Measurements at September 30, 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 September 30, 2023 Assets: Cash and cash equivalents $ 22,158 $ 22,158 $ - $ - $ 22,158 Securities available for sale 372,339 - 372,339 - 372,339 Securities held to maturity 125 - 113 - 113 Loans held for sale 2,027 - 2,027 - 2,027 Loans held for investment, net 805,602 - - 773,821 773,821 Interest receivable 4,645 - 4,645 - 4,645 Bank owned life insurance 22,705 - 22,705 - 22,705 IRLC 122 - 122 - 122 Forward sales commitments 21 - 21 - 21 Total $ 1,229,744 $ 22,158 $ 401,972 $ 773,821 $ 1,197,951 Liabilities: Deposits $ 1,133,910 $ - $ 1,131,833 $ - $ 1,133,833 Short-term debt 60,000 - - 60,000 60,000 Long-term debt 6,922 - - 6,656 6,656 Interest payable 1,215 - 1,215 - 1,215 Total $ 1,202,047 $ - $ 1,133,048 $ 66,656 $ 1,199,704 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)	9 Months Ended
	Sep. 30, 2023
Accumulated Other Comprehensive Loss
Schedule Of Accumulated Other Comprehensive Loss	For the three months ended September 30, 2023 Unrealized Securities Gains (Losses) Adjustments Related to Pension Plan Accumulated Other Comprehensive Loss Balance at June 30, 2023 $ (37,664 ) $ 439 $ (37,225 ) Change in unrealized securities gains (losses), net of tax benefit of $1,442 (5,423 ) - (5,423 ) Balance at September 30, 2023 $ (43,087 ) $ 439 $ (42,648 ) For the three months ended September 30, 2022 Unrealized Securities Gains (Losses) Adjustments Related to Pension Plan Accumulated Other Comprehensive Loss Balance at June 30, 2022 $ (33,109 ) $ (3,291 ) $ (36,400 ) Change in unrealized securities gains (losses), net of tax benefit of $2,075 (7,804 ) - (7,804 ) Balance at September 30, 2022 $ (40,913 ) $ (3,291 ) $ (44,204 ) For the nine months ended September 30, 2023 Unrealized Securities Gains (Losses) Adjustments Related to Pension Plan Accumulated Other Comprehensive Loss Balance at December 31, 2022 $ (40,451 ) $ 439 $ (40,012 ) Change in unrealized securities gains, net of tax expense of $701 (2,636 ) - (2,636 ) Balance at September 30, 2023 $ (43,087 ) $ 439 $ (42,648 ) For the nine months ended September 30, 2022 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 $10,417 (39,189 ) - (39,189 ) Reclassification for previously unrealized net losses recognized in net income, net of tax benefit of $20 77 - 77 Balance at September 30, 2022 $ (40,913 ) $ (3,291 ) $ (44,204 )

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue Recognition
Summary Of Noninterest Income, Segregated By Revenue Streams	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Noninterest Income In-scope of Topic 606: Service Charges on Deposits $ 256 $ 255 $ 755 $ 836 Investment Services and Insurance Income 374 316 1,236 1,020 Title Insurance Income 444 376 1,069 1,215 ATM and check card fees 672 628 1,971 1,823 Other 268 173 628 668 Noninterest Income (in-scope of Topic 606) 2,014 1,748 5,659 5,562 Noninterest Income (out-of-scope of Topic 606) 513 534 1,986 2,280 Total Noninterest Income $ 2,527 $ 2,282 $ 7,645 $ 7,842

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases
Schedule Of Leases And Liabilities Measurement	September 30, 2023 Lease Liabilities $ 773 Right-of-use assets $ 755 Weighted average remaining lease term (years) 1.77 years Weighted average discount rate 3.30 % For the Three Months Ended For the Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Operating lease cost $ 40 $ 75 $ 123 $ 169 Total lease cost $ 40 $ 75 $ 123 $ 169 Cash paid for amounts included in the measurement of lease liabilities $ 44 $ 100 $ 149 $ 205
Schedule Of Operating Lease Liabilities And Reconciliation	September 30, 2023 Three months ending December 31, 2023 $ 44 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 $ 919 Discount 146 Lease liabilities $ 773

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2023	Sep. 30, 2023	Jan. 31, 2023
Summary of Significant Accounting Policies
Increase in the allowance for credit losses on loans	$ 777,000
Increase in allowance for credit losses on unfunded loan commitments	$ 747,000
Net decrease to retained earnings			$ 1,200,000
Accrued interest receivable on available for sale debt securities		$ 1,400,000
Accrued interest receivable related to loans		$ 3,200,000

Investment Securities (Details)

Investment Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair value	$ 113	$ 112
Held to maturity, net	125	125
U S Treasuries [Member]
Fair value	113	112
Gross Unrealized Gains	0	0
Gross Unrealized Losses	12	13
Held to maturity, net	$ 125	$ 125

Investment Securities (Details

Investment Securities (Details 1) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Amortized Cost	$ 426,880	$ 443,300
Unrealized Gains	161	104
Unrealized Losses	54,702	51,309
Fair Value	372,339	392,095
U S Treasuries [Member]
Amortized Cost	39,918	39,902
Unrealized Gains	0	0
Unrealized Losses	2,912	3,259
Fair Value	37,006	36,643
U.S. Agency [Member]
Amortized Cost	143,484	143,473
Unrealized Gains	0	0
Unrealized Losses	11,870	13,725
Fair Value	131,614	129,748
Municipal bonds [Member]
Amortized Cost	41,382	46,331
Unrealized Gains	0	27
Unrealized Losses	5,059	4,160
Fair Value	36,323	42,198
Mortgage-backed securities [Member]
Amortized Cost	171,546	183,044
Unrealized Gains	161	77
Unrealized Losses	29,988	26,246
Fair Value	141,719	156,875
Corporate [Member]
Amortized Cost	30,550	30,550
Unrealized Gains	0	0
Unrealized Losses	4,873	3,919
Fair Value	$ 25,677	$ 26,631

Investment Securities (Detail_2

Investment Securities (Details 2) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Total, Amortized Cost	$ 125,000	$ 125,000
Total Fair Value	113,000	$ 112,000
Securities Held to Maturity [Member]
Due in one year or less, Amortized Cost	125,000
Due in one year or less, Fair Value	113,000
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	125,000
Total Fair Value	113,000
Securities Available for Sale [Member]
Due in one year or less, Amortized Cost	25,491,000
Due in one year or less, Fair Value	25,096,000
Due after one year through five years, Amortized Cost	186,744,000
Due after one year through five years, Fair Value	171,180,000
Due after five years, Amortized Cost	71,573,000
Due after five years, Fair Value	60,115,000
Due After Ten Years, Amortized Cost	143,072,000
Due After Ten Years, Fair Value	115,948,000
Total, Amortized Cost	426,880,000
Total Fair Value	$ 372,339,000

Investment Securities (Detail_3

Investment Securities (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Investment Securities
Gross realized losses	$ 0	$ 0	$ 0	$ (97)
Gross realized gains	0	0	0	0
Net realized (losses)	0	0	0	(97)
Proceeds from sale of securities	$ 0	$ 0	$ 0	$ 8,699

Investment Securities (Detail_4

Investment Securities (Details 4) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value Less Than 12 Months	$ 7,105	$ 94,451
Unrealized Losses Less Than 12 Months	920	7,498
Fair Value More Than 12 Months	360,037	291,803
Unrealized Losses More Than 12 Months	53,782	43,811
Fair Value Total	367,142	386,254
Unrealized Losses Total	54,702	51,309
U.S. Agency [Member]
Fair Value Less Than 12 Months	0	13,914
Unrealized Losses Less Than 12 Months	0	1,083
Fair Value More Than 12 Months	131,614	115,835
Unrealized Losses More Than 12 Months	11,870	12,642
Fair Value Total	131,614	129,749
Unrealized Losses Total	11,870	13,725
Municipal bonds [Member]
Fair Value Less Than 12 Months	5,432	21,805
Unrealized Losses Less Than 12 Months	593	1,426
Fair Value More Than 12 Months	30,890	18,710
Unrealized Losses More Than 12 Months	4,466	2,734
Fair Value Total	36,322	40,515
Unrealized Losses Total	5,059	4,160
Mortgage-backed securities [Member]
Fair Value Less Than 12 Months	0	32,823
Unrealized Losses Less Than 12 Months	0	2,429
Fair Value More Than 12 Months	136,523	119,892
Unrealized Losses More Than 12 Months	29,988	23,817
Fair Value Total	136,523	152,715
Unrealized Losses Total	29,988	26,246
Corporate [Member]
Fair Value Less Than 12 Months	1,673	16,252
Unrealized Losses Less Than 12 Months	327	2,198
Fair Value More Than 12 Months	24,004	10,379
Unrealized Losses More Than 12 Months	4,546	1,721
Fair Value Total	25,677	26,631
Unrealized Losses Total	4,873	3,919
U.S. Treasury [Member]
Fair Value Less Than 12 Months	0	9,657
Unrealized Losses Less Than 12 Months	0	362
Fair Value More Than 12 Months	37,006	26,987
Unrealized Losses More Than 12 Months	2,912	2,897
Fair Value Total	37,006	36,644
Unrealized Losses Total	$ 2,912	$ 3,259

Investment Securities (Detail_5

Investment Securities (Details Narrative) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Other Investments	$ 11,038,000	$ 11,317,000
Federal Home Loan Bank [Member]
Other Investments	2,000,000
Stock	3,700,000
Three low-income housing limited partnerships [Member]
Other Investments	625,000
Twelve Low-Income housing [Member]
Other Investments	5,300,000
Federal Reserve Discount Window Bank Term Funding Program [Member]
Pledged securities value	222,500,000
Securities market value	$ 190,200,000

Loans and Allowance for Credi_3

Loans and Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Gross loans	$ 806,248	$ 744,174
Unamortized net deferred loan fees	(646)	570
Less allowance for credit losses	9,166	7,936
Loans outstanding	796,436	735,668
Multi-Family [Member]
Loans outstanding	8,257	9,622
Real Estate [Member]
Loans outstanding	182,814	153,281
Other commercial real estate [Member]
Loans outstanding	102,216
Commercial and industrial [Member]
Loans outstanding	47,282
Credit Cards [Member]
Loans outstanding	3,316	3,242
1-4 Family residential construction [Member]
Loans outstanding	34,320
Owner-occupied Commercial Real Estate [Member]
Loans outstanding	91,836
Commercial Real Estate [Member]
Loans outstanding		195,163
Commercial & Industrial - Non- Real Estate [Member]
Loans outstanding		56,625
Farmland [Member]
Loans outstanding	80,502	74,322
Construction/Land Developments [Member]
Loans outstanding	46,027	68,671
Agricultural loans [Member]
Loans outstanding	13,299
Home Equity - Open End [Member]
Loans outstanding	46,351	46,928
Automobile loans [Member]
Loans outstanding	123,981
Other consumer loans [Member]
Loans outstanding	15,149
Municipal loans [Member]
Loans outstanding	5,844
Consumer [Member]
Loans outstanding		6,488
Dealers Finance [Member]
Loans outstanding		125,125
Home Equity - Closed End [Member]
Loans outstanding	$ 5,054	$ 4,707

Loans and Allowance for Credi_4

Loans and Allowance for Credit Losses (Details 1) - USD ($)	Sep. 30, 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	797,728
Gross loans, net of costs, 30-59 days past due	4,678
Less: Deferred aoan fees, net of costs, 60-89 days past due	0	0
Gross loans, net of costs, 60-89 days past due	256
Less: Deferred aoan fees, net of costs, greater than 90 days	0	0
Gross loans, net of costs, greater than 90 days	29
Less: Deferred loan fees, net of costs, non accruel loans	0	0
Gross loans, net of costs, non accruel loans	3,557,000
Less: Deferred loan fees, net of costs, current	646,000	570,000
Less: Deferred loan fees, net of costs, total loan receivable	646,000	570,000
Gross loans, net of costs, total loan receivable	806,248,000
Commercial Real Estate [Member]
Non-Accrual Loans		0
Current		194,847,000
Total Loan Receivable		195,163,000
30-59 Days Past Due		234,000
60-89 Days Past Due		82,000
Commercial & Industrial - Non- Real Estate [Member]
Non-Accrual Loans		101,000
Current		56,389,000
Total Loan Receivable		56,625,000
30-59 Days Past Due		104,000
60-89 Days Past Due		0
Greater than 90 Days		31
Total [Member]
30-59 Days Past due	4,678,000	4,274,000
60-89 Days Past due	256,000	1,287,000
Greater than 90 Days	29,000	38,000
Non-Accrual Loans	3,557,000	2,224,000
Current	797,082,000	735,781,000
Total Loan Receivable	805,602,000	743,604,000
Multi-Family [Member]
Non-Accrual Loans	0	0
Current	8,257,000	9,622,000
Total Loan Receivable	8,257,000	9,622,000
30-59 Days Past Due	0	0
60-89 Days Past Due	0	0
Construction/Land Development Other [Member]
Non-Accrual Loans	545,000
Current	45,482,000
Total Loan Receivable	46,027,000
30-59 Days Past Due	0
60-89 Days Past Due	0
Real Estate [Member]
Non-Accrual Loans	591,000	419,000
Current	180,509,000	150,829,000
Total Loan Receivable	182,814,000	153,281,000
30-59 Days Past Due	1,714,000	1,807,000
60-89 Days Past Due	0	226,000
Other commercial real estate [Member]
Non-Accrual Loans	0
Current	102,216,000
Total Loan Receivable	102,216,000
30-59 Days Past Due	0
60-89 Days Past Due	0
Commercial and industrial [Member]
Non-Accrual Loans	33,000
Current	47,062,000
Total Loan Receivable	47,282,000
30-59 Days Past Due	162,000
60-89 Days Past Due	0
Greater than 90 Days	25
Credit Cards [Member]
Non-Accrual Loans	0	0
Current	3,234,000	3,180,000
Total Loan Receivable	3,316,000	3,242,000
30-59 Days Past Due	59,000	51,000
60-89 Days Past Due	19,000	9,000
Greater than 90 Days	4	2
1-4 Family residential construction [Member]
Non-Accrual Loans	723
Current	33,597,000
Total Loan Receivable	34,320,000
30-59 Days Past Due	0
60-89 Days Past Due	0
Owner-occupied [Member]
Non-Accrual Loans	0
Current	90,508,000
Total Loan Receivable	91,836,000
30-59 Days Past Due	1,328
60-89 Days Past Due	0
Farmland [Member]
Non-Accrual Loans	977,000	1,458,000
Current	79,525,000	72,761,000
Total Loan Receivable	80,502,000	74,322,000
30-59 Days Past Due	0	85,000
60-89 Days Past Due	0	18,000
Agricultural loans [Member]
Non-Accrual Loans	73,000
Current	13,226,000
Total Loan Receivable	13,299,000
30-59 Days Past Due	0
60-89 Days Past Due	0
Automobile loans [Member]
Non-Accrual Loans	380,000
Current	122,526,000
Total Loan Receivable	123,981,000
30-59 Days Past Due	854,000
60-89 Days Past Due	221,000
Other consumer loans [Member]
Non-Accrual Loans	10,000
Current	15,056,000
Total Loan Receivable	15,149,000
30-59 Days Past Due	67,000
60-89 Days Past Due	16,000
Municipal loans [Member]
Non-Accrual Loans	0
Current	5,844,000
Total Loan Receivable	5,844,000
30-59 Days Past Due	0
60-89 Days Past Due	0
Consumer [Member]
Non-Accrual Loans		15,000
Current		6,451,000
Total Loan Receivable		6,488,000
30-59 Days Past Due		11,000
60-89 Days Past Due		11,000
Dealers Finance [Member]
Non-Accrual Loans		210,000
Current		123,568,000
Total Loan Receivable		125,125,000
30-59 Days Past Due		1,117,000
60-89 Days Past Due		225,000
Greater than 90 Days		5
Home Equity Open End [Member]
Non-Accrual Loans	225,000	0
Current	45,632,000	46,366,000
Total Loan Receivable	46,351,000	46,928,000
30-59 Days Past Due	494,000	385,000
60-89 Days Past Due	0	177,000
Home Equity - Close End [Member]
Non-Accrual Loans	0	0
Current	5,054,000	4,704,000
Total Loan Receivable	5,054,000	4,707,000
30-59 Days Past Due	0	3,000
60-89 Days Past Due	$ 0	0
Construction/Land [Member]
Non-Accrual Loans		21,000
Current		67,634,000
Total Loan Receivable		68,671,000
30-59 Days Past Due		477,000
60-89 Days Past Due		$ 539,000

Loans and Allowance for Credi_5

Loans and Allowance for Credit Losses (Details 2) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Total [Member]
Nonaccrual loans with No Allowance	$ 3,557,000
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	3,557,000	$ 2,224,000
Owner-occupied commercial real estateCommercial Real Estate [Member]
Nonaccrual loans with No Allowance	0
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	0	0
Other Commercial Real Estate [Member]
Nonaccrual loans with No Allowance	0
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	0	0
Multi-Family [Member]
Nonaccrual loans with No Allowance	0
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	0	0
Real Estate [Member]
Nonaccrual loans with No Allowance	591,000
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	591,000	419,000
Credit Cards [Member]
Nonaccrual loans with No Allowance	0
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	0	0
1-4 Family residential construction [Member]
Nonaccrual loans with No Allowance	723,000
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	723,000	0
Farmland [Member]
Nonaccrual loans with No Allowance	977,000
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	977,000	1,458,000
Agricultural loans [Member]
Nonaccrual loans with No Allowance	73,000
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	73,000	88,000
Automobile loans [Member]
Nonaccrual loans with No Allowance	380,000
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	380,000	210,000
Municipal loans [Member]
Nonaccrual loans with No Allowance	0
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	0	0
Home Equity Open End [Member]
Nonaccrual loans with No Allowance	225,000
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	225,000	0
Home Equity - Close End [Member]
Nonaccrual loans with No Allowance	0
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	0	0
Other construction, land development and land [Member]
Nonaccrual loans with No Allowance	545,000
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	545,000	21,000
Commercial & Industrial [Member]
Nonaccrual loans with No Allowance	33,000
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	33,000	13,000
Other consumer loans [Member]
Nonaccrual loans with No Allowance	10,000
Nonaccrual Loans with an Allowance	0
Non-Accrual Loans	$ 10,000	$ 15,000

Loans and Allowance for Credi_6

Loans and Allowance for Credit Losses (Details 3) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Total [Member]
Accrued interest receivables	$ 22,000	$ 28,000
Owner-occupied commercial real estateCommercial Real Estate [Member]
Accrued interest receivables	0	0
Other Commercial Real Estate [Member]
Accrued interest receivables	0	0
Multi-Family [Member]
Accrued interest receivables	0	0
Real Estate [Member]
Accrued interest receivables	1,000	3
Credit Cards [Member]
Accrued interest receivables	0	0
1-4 Family residential construction [Member]
Accrued interest receivables	10,000	10
Farmland [Member]
Accrued interest receivables	0	0
Agricultural loans [Member]
Accrued interest receivables	0	0
Automobile loans [Member]
Accrued interest receivables	5,000	8,000
Municipal loans [Member]
Accrued interest receivables	0	0
Home Equity Open End [Member]
Accrued interest receivables	0	1,000
Home Equity - Close End [Member]
Accrued interest receivables	0	0
Other construction, land development and land [Member]
Accrued interest receivables	6,000	6
Commercial & Industrial [Member]
Accrued interest receivables	0	0
Other consumer loans [Member]
Accrued interest receivables	$ 0	$ 0

Loans and Allowance for Credi_7

Loans and Allowance for Credit Losses (Details 4) $ in Thousands	Sep. 30, 2023 USD ($)
Less: Unamortized net deferred loan fees	$ (646)
Loans held for investment	805,602
Total [Member]
2023	114,860
2022	175,495
2021	101,471
2020	69,874
2019	33,645
Prior	155,531
Revolving	155,372
Total	806,248
Total [Member] | Current Period Gross Write Offs Member [Member]
2023	88
2022	550
2021	387
2020	107
2019	38
Prior	48
Revolving	25
Total	1,243
1-4 Family residential construction [Member] | Current Period Gross Write Offs Member [Member]
2023	0
2022	70
2021	0
2020	0
2019	0
Prior	0
Revolving	0
Total	70
Multi-Family [Member]
2023	0
2022	2,730
2021	1,414
2020	916
2019	0
Prior	1,693
Revolving	1,504
Total	8,257
Multi-Family [Member] | Pass [Member]
2023	0
2022	2,730
2021	1,414
2020	916
2019	0
Prior	1,590
Revolving	1,504
Total	8,154
Multi-Family [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	103
Revolving	0
Total	103
Multi-Family [Member] | Substandard [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	0
Total	0
Real Estate [Member]
2023	36,704
2022	44,870
2021	15,924
2020	12,812
2019	7,928
Prior	64,384
Revolving	192
Total	182,814
Real Estate [Member] | Current Period Gross Write Offs Member [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	19
Revolving	0
Total	19
Real Estate [Member] | Pass [Member]
2023	36,704
2022	44,780
2021	15,382
2020	12,310
2019	6,555
Prior	56,434
Revolving	192
Total	172,357
Real Estate [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	502
2019	155
Prior	5,784
Revolving	0
Total	6,441
Real Estate [Member] | Substandard [Member]
2023	0
2022	90
2021	542
2020	0
2019	1,218
Prior	2,166
Revolving	0
Total	4,016
Other commercial real estate [Member]
2023	4,148
2022	30,132
2021	12,895
2020	5,059
2019	3,825
Prior	42,928
Revolving	3,229
Total	102,216
Other commercial real estate [Member] | Pass [Member]
2023	4,148
2022	30,132
2021	12,895
2020	5,059
2019	3,825
Prior	31,048
Revolving	3,229
Total	90,336
Other commercial real estate [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	11,793
Revolving	0
Total	11,793
Other commercial real estate [Member] | Substandard [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	87
Revolving	0
Total	87
Commercial and industrial [Member]
2023	4,971
2022	8,982
2021	6,475
2020	1,939
2019	806
Prior	371
Revolving	23,738
Total	47,282
Commercial and industrial [Member] | Current Period Gross Write Offs Member [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	2
Revolving	0
Total	2
Commercial and industrial [Member] | Pass [Member]
2023	4,971
2022	8,901
2021	5,790
2020	1,914
2019	806
Prior	369
Revolving	16,571
Total	39,322
Commercial and industrial [Member] | Watch [Member]
2023	0
2022	48
2021	57
2020	0
2019	0
Prior	0
Revolving	7,167
Total	7,272
Commercial and industrial [Member] | Substandard [Member]
2023	0
2022	33
2021	628
2020	25
2019	0
Prior	2
Revolving	0
Total	688
Credit Cards [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	3,316
Total	3,316
Credit Cards [Member] | Current Period Gross Write Offs Member [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	25
Total	25
Credit Cards [Member] | Pass [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	3,312
Total	3,312
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	4
Total	4
1-4 Family residential construction [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	34,320
Total	34,320
1-4 Family residential construction [Member] | Pass [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	33,079
Total	33,079
1-4 Family residential construction [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	518
Total	518
1-4 Family residential construction [Member] | Substandard [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	723
Total	723
Owner-occupied [Member]
2023	2,165
2022	18,342
2021	18,132
2020	7,208
2019	10,012
Prior	26,788
Revolving	9,189
Total	91,836
Owner-occupied [Member] | Pass [Member]
2023	2,165
2022	18,342
2021	18,132
2020	7,208
2019	3,649
Prior	23,487
Revolving	5,891
Total	78,874
Owner-occupied [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	40
Prior	2,108
Revolving	0
Total	2,148
Owner-occupied [Member] | Substandard [Member]
2023	0
2022	0
2021	0
2020	0
2019	6,323
Prior	1,193
Revolving	3,298
Total	10,814
Construction/Land [Member] | Pass [Member]
2023	4,343
2022	3,903
2021	5,753
2020	1,862
2019	2,883
Prior	4,957
Revolving	21,339
Total	45,040
Construction/Land [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	261
Revolving	181
Total	442
Construction/Land [Member] | Substandard [Member]
2023	521
2022	0
2021	0
2020	0
2019	0
Prior	24
Revolving	0
Total	545
Automobile loans [Member] | Current Period Gross Write Offs Member [Member]
2023	88
2022	424
2021	386
2020	105
2019	32
Prior	25
Revolving	0
Total	1,060
Automobile loans [Member] | Pass [Member]
2023	46,565
2022	42,147
2021	21,824
2020	8,772
2019	2,755
Prior	1,019
Revolving	0
Total	123,082
Automobile loans [Member] | Watch [Member]
2023	199
2022	130
2021	48
2020	43
2019	53
Prior	46
Revolving	0
Total	519
Automobile loans [Member] | Substandard [Member]
2023	30
2022	124
2021	187
2020	30
2019	4
Prior	5
Revolving	0
Total	380
Farmland [Member]
2023	6,395
2022	15,174
2021	14,474
2020	27,475
2019	3,323
Prior	8,092
Revolving	5,569
Total	80,502
Farmland [Member] | Pass [Member]
2023	6,395
2022	15,174
2021	14,149
2020	27,475
2019	2,533
Prior	6,530
Revolving	5,553
Total	77,809
Farmland [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	790
Prior	910
Revolving	0
Total	1,700
Farmland [Member] | Substandard [Member]
2023	0
2022	0
2021	325
2020	0
2019	0
Prior	652
Revolving	16
Total	993
Agricultural loans [Member]
2023	2,869
2022	2,767
2021	641
2020	501
2019	0
Prior	38
Revolving	6,483
Total	13,299
Agricultural loans [Member] | Pass [Member]
2023	2,869
2022	2,719
2021	627
2020	453
2019	0
Prior	38
Revolving	6,333
Total	13,039
Agricultural loans [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	37
2019	0
Prior	0
Revolving	150
Total	187
Agricultural loans [Member] | Substandard [Member]
2023	0
2022	48
2021	14
2020	11
2019	0
Prior	0
Revolving	0
Total	73
Automobile loans [Member]
2023	46,794
2022	42,401
2021	22,059
2020	8,845
2019	2,812
Prior	1,070
Revolving	0
Total	123,981
Other consumer loans [Member]
2023	4,521
2022	5,633
2021	2,610
2020	1,062
2019	314
Prior	535
Revolving	474
Total	15,149
Other consumer loans [Member] | Current Period Gross Write Offs Member [Member]
2023	0
2022	56
2021	1
2020	2
2019	6
Prior	2
Revolving	0
Total	67
Other consumer loans [Member] | Pass [Member]
2023	4,521
2022	5,619
2021	2,587
2020	1,062
2019	307
Prior	532
Revolving	473
Total	15,101
Other consumer loans [Member] | Watch [Member]
2023	0
2022	4
2021	23
2020	0
2019	2
Prior	3
Revolving	1
Total	33
Other consumer loans [Member] | Substandard [Member]
2023	0
2022	10
2021	0
2020	0
2019	5
Prior	0
Revolving	0
Total	15
Municipal loans [Member]
2023	0
2022	170
2021	973
2020	1,128
2019	1,257
Prior	2,316
Revolving	0
Total	5,844
Municipal loans [Member] | Current Period Gross Write Offs Member [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	0
Total	0
Municipal loans [Member] | Pass [Member]
2023	0
2022	170
2021	973
2020	1,128
2019	1,257
Prior	2,316
Revolving	0
Total	5,844
Municipal loans [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	0
Total	0
Municipal loans [Member] | Substandard [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	0
Total	0
Home Equity Open End [Member]
2023	370
2022	0
2021	0
2020	0
2019	0
Prior	143
Revolving	45,838
Total	46,351
Home Equity Open End [Member] | Pass [Member]
2023	370
2022	0
2021	0
2020	0
2019	0
Prior	143
Revolving	44,182
Total	44,695
Home Equity Open End [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	1,381
Total	1,381
Home Equity Open End [Member] | Substandard [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving	275
Total	275
Home Equity - Close End [Member]
2023	1,059
2022	391
2021	121
2020	1,067
2019	485
Prior	1,931
Revolving	0
Total	5,054
Home Equity - Close End [Member] | Pass [Member]
2023	1,059
2022	391
2021	121
2020	1,067
2019	473
Prior	1,560
Revolving	0
Total	4,671
Home Equity - Close End [Member] | Watch [Member]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	371
Revolving	0
Total	371
Home Equity - Close End [Member] | Substandard [Member]
2023	0
2022	0
2021	0
2020	0
2019	12
Prior	0
Revolving	0
Total	12
Construction/Land [Member]
2023	4,864
2022	3,903
2021	5,753
2020	1,862
2019	2,883
Prior	5,242
Revolving	21,520
Total	$ 46,027

Loans and Allowance for Credi_8

Loans and Allowance for Credit Losses (Details 5) $ in Thousands	Dec. 31, 2022 USD ($)
Commercial Real Estate [Member]
Grade 1 Minimal Risk	$ 0
Grade 2 Modest Risk	3,097
Grade 3 Average Risk	55,662
Grade 4 Acceptable Risk	72,779
Grade 5 Marginally Acceptable	41,749
Grade 6 Watch	13,878
Grade 7 Substandard	7,998
Grade 8 Doubtful	0
Total	195,163
Multi-Family [Member]
Grade 1 Minimal Risk	0
Grade 2 Modest Risk	0
Grade 3 Average Risk	963
Grade 4 Acceptable Risk	5,116
Grade 5 Marginally Acceptable	3,430
Grade 6 Watch	113
Grade 7 Substandard	0
Grade 8 Doubtful	0
Total	9,622
Land Development Construction [Member]
Grade 1 Minimal Risk	0
Grade 2 Modest Risk	4
Grade 3 Average Risk	11,112
Grade 4 Acceptable Risk	42,684
Grade 5 Marginally Acceptable	13,116
Grade 6 Watch	1,213
Grade 7 Substandard	542
Grade 8 Doubtful	0
Total	68,671
Real Estate [Member]
Grade 1 Minimal Risk	0
Grade 2 Modest Risk	553
Grade 3 Average Risk	27,003
Grade 4 Acceptable Risk	86,269
Grade 5 Marginally Acceptable	28,560
Grade 6 Watch	6,950
Grade 7 Substandard	3,946
Total	153,281
Grade 8 Doubtful	0
Credit Cards [Member]
Total	3,242
Performing	3,240
Non-performing	2
Farmland [Member]
Grade 1 Minimal Risk	(155)
Grade 2 Modest Risk	269
Grade 3 Average Risk	11,373
Grade 4 Acceptable Risk	38,051
Grade 5 Marginally Acceptable	22,069
Grade 6 Watch	947
Grade 7 Substandard	1,458
Grade 8 Doubtful	0
Total	74,322
Consumer [Member]
Grade 1 Minimal Risk	(33)
Grade 2 Modest Risk	286
Grade 3 Average Risk	2,965
Grade 4 Acceptable Risk	3,105
Grade 5 Marginally Acceptable	68
Grade 6 Watch	16
Grade 7 Substandard	15
Grade 8 Doubtful	0
Total	6,488
Dealers Finance [Member]
Total	125,125
Performing	124,910
Non-performing	215
Home Equity Open End [Member]
Grade 1 Minimal Risk	(27)
Grade 2 Modest Risk	1,272
Grade 3 Average Risk	18,671
Grade 4 Acceptable Risk	23,207
Grade 5 Marginally Acceptable	2,091
Grade 6 Watch	1,611
Grade 7 Substandard	49
Grade 8 Doubtful	0
Total	46,928
Home Equity - Close End [Member]
Grade 1 Minimal Risk	0
Grade 2 Modest Risk	48
Grade 3 Average Risk	1,065
Grade 4 Acceptable Risk	2,560
Grade 5 Marginally Acceptable	639
Grade 6 Watch	382
Grade 7 Substandard	13
Grade 8 Doubtful	0
Total	4,707
Commercial & Industrial (Non-Real Estate)
Grade 1 Minimal Risk	(10)
Grade 2 Modest Risk	516
Grade 3 Average Risk	12,934
Grade 4 Acceptable Risk	26,310
Grade 5 Marginally Acceptable	15,613
Grade 6 Watch	911
Grade 7 Substandard	331
Grade 8 Doubtful	0
Total	56,625
Gross Loan [Member]
Grade 1 Minimal Risk	(225)
Grade 2 Modest Risk	6,045
Grade 3 Average Risk	141,748
Grade 4 Acceptable Risk	300,081
Grade 5 Marginally Acceptable	127,335
Grade 6 Watch	26,021
Grade 7 Substandard	14,352
Grade 8 Doubtful	0
Total	615,807
Less: Deferred Loan Fees Net Of Costs [Member]
Grade 1 Minimal Risk	(570)
Total	$ 615,237

Loans and Allowance for Credi_9

Loans and Allowance for Credit Losses (Details 6) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Business/Other Assets	$ 23,937	$ 20,153
Total [Member]
Real state	521
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
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
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 Open End [Member]
Real state	0
Business/Other Assets	0
Home Equity - Close End [Member]
Real state	0
Business/Other Assets	0
Other construction, land development and land [Member]
Real state	521
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

Loans and Allowance for Cred_10

Loans and Allowance for Credit Losses (Details 7) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Owner-occupied Commercial Real Estate [Member]
Beginning Balance	$ 992
Charge-offs	0
Recoveries	0
Provision for Loan Losses	(39)
Ending Balance	1,233
Adjustment for adoption of ASU 2016-13	280
Commercial Real Estate [Member]
Beginning Balance		$ 2,205
Charge-offs		0
Recoveries		0
Provision for Loan Losses		(398)
Ending Balance		1,807
Individually Evaluated for Impairment		21
Collectively Evaluated for Impairment		1,786
Total [Member]
Beginning Balance	7,936	7,748
Charge-offs	1,243	1,036
Recoveries	539	651
Provision for Loan Losses	1,157	150
Ending Balance	9,166	7,513
Individually Evaluated for Impairment		361
Collectively Evaluated for Impairment		7,152
Adjustment for adoption of ASU 2016-13	777
Other Commercial Real Estate [Member]
Beginning Balance	1,023
Charge-offs	0
Recoveries	0
Provision for Loan Losses	(5)
Ending Balance	436
Adjustment for adoption of ASU 2016-13	(582)
Multi-Family [Member]
Beginning Balance	71	29
Charge-offs	0	0
Recoveries	0	0
Provision for Loan Losses	(45)	27
Ending Balance	208	56
Individually Evaluated for Impairment		0
Collectively Evaluated for Impairment		56
Adjustment for adoption of ASU 2016-13	182
Real Estate [Member]
Beginning Balance	1,389	1,162
Charge-offs	19	17
Recoveries	0	0
Provision for Loan Losses	68	(4)
Ending Balance	1,254	1,141
Individually Evaluated for Impairment		99
Collectively Evaluated for Impairment		1,042
Adjustment for adoption of ASU 2016-13	(184)
Credit Cards [Member]
Beginning Balance	68	70
Charge-offs	25	42
Recoveries	20	11
Provision for Loan Losses	2	36
Ending Balance	91	75
Individually Evaluated for Impairment		0
Collectively Evaluated for Impairment		75
Adjustment for adoption of ASU 2016-13	26
1-4 Family residential construction [Member]
Beginning Balance	324
Charge-offs	70
Recoveries	1
Provision for Loan Losses	154
Ending Balance	518
Adjustment for adoption of ASU 2016-13	109
Farmland [Member]
Beginning Balance	571	448
Charge-offs	0	0
Recoveries	0	0
Provision for Loan Losses	67	77
Ending Balance	949	525
Individually Evaluated for Impairment		0
Collectively Evaluated for Impairment		525
Adjustment for adoption of ASU 2016-13	311
Agricultural loans [Member]
Beginning Balance	80
Charge-offs	0
Recoveries	0
Provision for Loan Losses	2
Ending Balance	24
Adjustment for adoption of ASU 2016-13	(58)
Automobile loans [Member]
Beginning Balance	1,790
Charge-offs	1,060
Recoveries	475
Provision for Loan Losses	535
Ending Balance	1,483
Adjustment for adoption of ASU 2016-13	(257)
Municipal loans [Member]
Beginning Balance	0
Charge-offs	0
Recoveries	0
Provision for Loan Losses	0
Ending Balance	0
Adjustment for adoption of ASU 2016-13	0
Consumer [Member]
Beginning Balance		520
Charge-offs		147
Recoveries		21
Provision for Loan Losses		(137)
Ending Balance		257
Individually Evaluated for Impairment		0
Collectively Evaluated for Impairment		257
Dealers Finance [Member]
Beginning Balance		1,601
Charge-offs		794
Recoveries		445
Provision for Loan Losses		518
Ending Balance		1,770
Individually Evaluated for Impairment		13
Collectively Evaluated for Impairment		1,757
Home Equity Open End [Member]
Beginning Balance	446	407
Charge-offs	0	0
Recoveries	0	130
Provision for Loan Losses	0	(141)
Ending Balance	257	396
Individually Evaluated for Impairment		0
Collectively Evaluated for Impairment		396
Adjustment for adoption of ASU 2016-13	(189)
Home Equity - Close End [Member]
Beginning Balance	39	41
Charge-offs	0	0
Recoveries	0	0
Provision for Loan Losses	14	(7)
Ending Balance	149	34
Individually Evaluated for Impairment		0
Collectively Evaluated for Impairment		34
Adjustment for adoption of ASU 2016-13	96
Other construction, land development and land [Member]
Beginning Balance	694	977
Charge-offs	0	0
Recoveries	0	0
Provision for Loan Losses	148	77
Ending Balance	1,444	1,054
Individually Evaluated for Impairment		228
Collectively Evaluated for Impairment		826
Adjustment for adoption of ASU 2016-13	602
Commercial & Industrial [Member]
Beginning Balance	368
Charge-offs	2
Recoveries	1
Provision for Loan Losses	67
Ending Balance	772
Adjustment for adoption of ASU 2016-13	338
Other consumer loans [Member]
Beginning Balance	81
Charge-offs	67
Recoveries	42
Provision for Loan Losses	189
Ending Balance	348
Adjustment for adoption of ASU 2016-13	$ 103
Commercial & Industrial (Non-Real Estate)
Beginning Balance		288
Charge-offs		36
Recoveries		44
Provision for Loan Losses		102
Ending Balance		398
Individually Evaluated for Impairment		0
Collectively Evaluated for Impairment		$ 398

Loans and Allowance for Cred_11

Loans and Allowance for Credit Losses (Details 8) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Allowance for Credit Losses - Loans [Member] | Owner-occupied commercial real estateCommercial Real Estate [Member]
Allowance for Credit Losses - Loans	$ 1,233
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	1,233
Allowance for Credit Losses - Loans [Member] | Other Commercial Real Estate [Member]
Allowance for Credit Losses - Loans	436
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	436
Multi-Family [Member]
Loan Individually Evaluated For Impairment		$ 0
Collectively Evaluated for Impairment		9,622
Multi-Family [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	208
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	208
Real Estate [Member]
Loan Individually Evaluated For Impairment		3,260
Collectively Evaluated for Impairment		150,021
Real Estate [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	1,254
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	1,254
Credit Cards [Member]
Loan Individually Evaluated For Impairment		0
Collectively Evaluated for Impairment		3,242
Credit Cards [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	91
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	91
1-4 Family residential construction [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	518
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	518
Commercial and industrial [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	772
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	772
Farmland [Member]
Loan Individually Evaluated For Impairment		2,079
Collectively Evaluated for Impairment		72,243
Farmland [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	949
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	949
Home Equity Open End [Member]
Loan Individually Evaluated For Impairment		0
Collectively Evaluated for Impairment		46,928
Home Equity Open End [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	257
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	257
Home Equity - Close End [Member]
Loan Individually Evaluated For Impairment		0
Collectively Evaluated for Impairment		4,707
Home Equity - Close End [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	149
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	149
Total Loan [Member]
Loan Individually Evaluated For Impairment		15,365
Collectively Evaluated for Impairment		$ 728,239
Total Loan [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	9,166
Loan Individually Evaluated For Impairment	228
Collectively Evaluated for Impairment	8,938
Other construction, land development and land [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	1,444
Loan Individually Evaluated For Impairment	228
Collectively Evaluated for Impairment	1,216
Agricultural loans [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	24
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	24
Automobile loans [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	1,483
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	1,483
Other consumer loans [Member] | Allowance for Credit Losses - Loans [Member]
Allowance for Credit Losses - Loans	348
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	348
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
Loans Balances [Member] | Owner-occupied commercial real estateCommercial Real Estate [Member]
Loan Balances	91,836
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	91,836
Loans Balances [Member] | Other Commercial Real Estate [Member]
Loan Balances	102,216
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	102,216
Loans Balances [Member] | Multi-Family [Member]
Loan Balances	8,257
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	8,257
Loans Balances [Member] | Real Estate [Member]
Loan Balances	182,814
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	182,814
Loans Balances [Member] | Credit Cards [Member]
Loan Balances	3,316
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	3,316
Loans Balances [Member] | 1-4 Family residential construction [Member]
Loan Balances	34,320
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	34,320
Loans Balances [Member] | Commercial and industrial [Member]
Loan Balances	47,282
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	47,282
Loans Balances [Member] | Farmland [Member]
Loan Balances	80,502
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	80,502
Loans Balances [Member] | Home Equity Open End [Member]
Loan Balances	46,351
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	46,351
Loans Balances [Member] | Home Equity - Close End [Member]
Loan Balances	5,054
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	5,054
Loans Balances [Member] | Total Loan [Member]
Loan Balances	806,248
Loan Individually Evaluated For Impairment	521
Collectively Evaluated for Impairment	805,727
Loans Balances [Member] | Other construction, land development and land [Member]
Loan Balances	46,027
Loan Individually Evaluated For Impairment	521
Collectively Evaluated for Impairment	45,506
Loans Balances [Member] | Agricultural loans [Member]
Loan Balances	13,299
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	13,299
Loans Balances [Member] | Automobile loans [Member]
Loan Balances	123,981
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	123,981
Loans Balances [Member] | Other consumer loans [Member]
Loan Balances	15,149
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	15,149
Loans Balances [Member] | Municipal loans [Member]
Loan Balances	5,844
Loan Individually Evaluated For Impairment	0
Collectively Evaluated for Impairment	$ 5,844

Loans and Allowance for Cred_12

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

Loans and Allowance for Cred_13

Loans and Allowance for Credit Losses (Details 10)	Dec. 31, 2022 USD ($)
Allowance [Member] | Consumer [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 Real Estate [Member] | Allowance [Member]
Recorded invested	980,000
Unpaid principal balance	980,000
Related Allowance	11,000
Average Recorded investment	1,935,000
Commercial & Industrial - Non- Real Estate [Member] | Allowance [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
Land Development Construction[Member]
Recorded invested	332,000
Unpaid principal balance	332,000
Related Allowance	0
Average Recorded investment	474,000
Construction Of Land Development [Member] | Allowance [Member]
Recorded invested	521,000
Unpaid principal balance	521,000
Related Allowance	228,000
Average Recorded investment	261,000
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
Farmland [Member]
Recorded invested	2,535,000
Unpaid principal balance	2,079,000
Related Allowance	0
Average Recorded investment	2,137,000
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
Dealers Finance [Member]
Recorded invested	7,000
Unpaid principal balance	7,000
Related Allowance	0
Average Recorded investment	11,000
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
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
Commercial & Industrial (Non-Real Estate)
Recorded invested	0
Unpaid principal balance	0
Related Allowance	0
Average Recorded investment	0
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
Related Allowances and No Related Allowances [Member]
Recorded invested	15,821,000
Unpaid principal balance	15,365,000
Related Allowance	344,000
Average Recorded investment	$ 17,304,000

Loans and Allowance for Cred_14

Loans and Allowance for Credit Losses (Details 11)	9 Months Ended
	Sep. 30, 2022 USD ($)
Allowance [Member] | Consumer [Member]
Interest Income Recognized	$ 0
Average Recorded investment	0
Commercial Real Estate [Member]
Interest Income Recognized	266,000
Average Recorded investment	8,339,000
Commercial Real Estate [Member] | Allowance [Member]
Interest Income Recognized	34,000
Average Recorded investment	3,496,000
Commercial & Industrial - Non- Real Estate [Member] | Allowance [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
Land Development Construction[Member] | Allowance [Member]
Interest Income Recognized	17,000
Average Recorded investment	261,000
Real Estate [Member]
Interest Income Recognized	75,000
Average Recorded investment	2,290,000
Real Estate [Member] | Allowance [Member]
Interest Income Recognized	49,000
Average Recorded investment	1,309,000
Credit Cards [Member]
Interest Income Recognized	0
Average Recorded investment	0
Credit Cards [Member] | Allowance [Member]
Interest Income Recognized	0
Average Recorded investment	0
Farmland [Member]
Interest Income Recognized	151,000
Average Recorded investment	2,188,000
Farmland [Member] | Allowance [Member]
Interest Income Recognized	0
Average Recorded investment	0
Consumer [Member]
Interest Income Recognized	0
Average Recorded investment	3,000
Dealers Finance [Member]
Interest Income Recognized	1,000
Average Recorded investment	11,000
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
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
Commercial & Industrial (Non-Real Estate)
Interest Income Recognized	0
Average Recorded investment	0
Gross Loan [Member]
Interest Income Recognized	508,000
Average Recorded investment	13,457,000
Gross Loan [Member] | Allowance [Member]
Interest Income Recognized	105,000
Average Recorded investment	5,147,000
Construction/Land Development [Member]
Interest Income Recognized	15,000
Average Recorded investment	552,000
Dealer Finance [Member] | Allowance [Member]
Interest Income Recognized	5,000
Average Recorded investment	81,000
Gross Loan Total [Member]
Interest Income Recognized	613,000
Average Recorded investment	$ 18,604,000

Loans and Allowance for Cred_15

Loans and Allowance for Credit Losses (Details 12) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Total [Member]
Amortized cost	$ 21
Weighted Average TermExtension (Months)	3 years
Automobile loans [Member]
Amortized cost	$ 21
Weighted Average TermExtension (Months)	3 years

Loans and Allowance for Cred_16

Loans and Allowance for Credit Losses (Details 13)	Sep. 30, 2023 USD ($)
Current payment status	$ 37,000
Past due payment status	16,000
Automobile loans [Member]
Current payment status	37,000
Real Estate [Member]
Current payment status	0
Past due payment status	$ 16,000

Loans and Allowance for Cred_17

Loans and Allowance for Credit Losses (Details 14) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Total TDR[Member]
Number Of Contracts	$ 4
Pre-modification Outstanding Recorded Investment	206
Post-modification Outstanding Recorded Investment	206
Change In Terms [Member]
Number Of Contracts	1
Pre-modification Outstanding Recorded Investment	162
Post-modification Outstanding Recorded Investment	162
Extended Maturity [Member]
Number Of Contracts	3
Pre-modification Outstanding Recorded Investment	44
Post-modification Outstanding Recorded Investment	$ 44

Loans and Allowance for Cred_18

Loans and Allowance for Credit Losses (Details 15) - Total Allowance for Credit Losses Unfunded CommitmentsMember [Member]	9 Months Ended
	Sep. 30, 2023 USD ($)
Beg balance	$ 0
Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13	747,000
Recovery of credit losses	2,000
End balance	$ 749,000

Loans and Allowance for Cred_19

Loans and Allowance for Credit Losses (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Loans and Allowance for Credit Losses
Revenue	$ 162,000	$ 103,000,000
Pledged Loans	27,150,000		$ 20,980,000
Nonaccrual loans	$ 3,600,000		$ 2,200,000
Impairment description	The Company individually assessed for impairment all substandard loans greater than $500,000 and all troubled debt restructurings
Unfunded loan commitments	$ 749,000

Mortgage Banking and Derivati_2

Mortgage Banking and Derivatives (Details Narrative)	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) integer	Dec. 31, 2022 USD ($) integer
Total Amount Of Conducted Business	$ 2,000,000
Total Amount Of Conducted Business Unpaid	2,000,000
Other Assets [Member]
Notional Debt Amount	$ 13,300,000	$ 12,200,000
Total Notional Positions | integer	42	38
Fair Value Of Derivative Instruments	$ 21,000	$ 92,000
Other Liability [Member]
Total Notional Positions | integer	48	43
Fair Value Of Forward Sales	$ 122,000	$ 186,000,000
Notional Amount	$ 15,300,000	$ 13,600,000

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Employee Benefit Plan
Service cost	$ 0	$ 190	$ 0	$ 570
Interest cost	92	104	276	312
Expected return on plan assets	(130)	0	(390)	0
Amortization of prior service cost	0	(195)	0	(585)
Amortization of net loss	0	58	0	174
Net periodic pension cost	$ (38)	$ 157	$ (114)	$ 471

Stock Based Compensation (Detai

Stock Based Compensation (Details Narrative)	3 Months Ended	9 Months Ended
	Sep. 30, 2023 USD ($) shares	Sep. 30, 2023 USD ($) shares
Unrecognized compensation expense | $		$ 638,000
Share vested		6,974
Share forfeited	529	96
Directors [Member]
Stock Plan Committee Awarded Shares Issued		1,309
Employee Service Fair Value | $	$ 29,000	$ 29,000
U S Treasuries [Member]
Stock Plan Committee Awarded Shares Issued		23,556
Employee Service Fair Value | $	$ 526,000	$ 526,000
Description Of Vest Shares		These shares vest 25% over each of the next four years

Fair Value (Details)

Fair Value (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Loans held for sale, F&M Mortgage	$ 2,027,000	$ 1,373,000
U.S Treasury	37,006,000	36,643,000
U.S. Agency	131,614,000	129,748,000
Municipal bonds	36,323,000	42,198,000
Mortgage-backed securities	141,719,000	156,875,000
IRLC	122,000	92,000
Corporate	25,677,000	26,631,000
Forward sales commitments	21,000	186,000
Assets at Fair Value	374,509	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	2,027,000	1,373,000
U.S Treasury	37,006,000	36,643,000
U.S. Agency	131,614,000	129,748,000
Municipal bonds	36,323,000	42,198,000
Mortgage-backed securities	141,719,000	156,875,000
IRLC	122,000	92,000
Corporate	25,677,000	26,631,000
Forward sales commitments	21,000	186,000
Assets at Fair Value	374,509	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 ($)	Sep. 30, 2023	Dec. 31, 2022
Impaired loans		$ 2,590,000
Collateral dependent loans with an ACL	$ 293
Fair Value Inputs Level 1
Impaired loans		0
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 3
Impaired loans		2,590,000
Collateral dependent loans with an ACL	293,000
Commercial Real Estate [Member]
Impaired loans		969,000
Commercial Real Estate [Member] | Fair Value Inputs Level 1
Impaired loans		0
Commercial Real Estate [Member] | Fair Value Inputs Level 2
Impaired loans		0
Commercial Real Estate [Member] | Fair Value Inputs Level 3
Impaired loans		969,000
Real Estate [Member]
Impaired loans		1,286,000
Real Estate [Member] | Fair Value Inputs Level 1
Impaired loans		0
Real Estate [Member] | Fair Value Inputs Level 2
Impaired loans		0
Real Estate [Member] | Fair Value Inputs Level 3
Impaired loans		1,286,000
Dealers Finance [Member]
Impaired loans		42,000
Dealers Finance [Member] | Fair Value Inputs Level 1
Impaired loans		0
Dealers Finance [Member] | Fair Value Inputs Level 2
Impaired loans		0
Dealers Finance [Member] | Fair Value Inputs Level 3
Impaired loans		42,000
Other construction, land development and land [Member]
Collateral dependent loans with an ACL	293,000
Other construction, land development and land [Member] | Fair Value Inputs Level 1
Collateral dependent loans with an ACL	0
Other construction, land development and land [Member] | Fair Value Inputs Level 2
Collateral dependent loans with an ACL	0
Other construction, land development and land [Member] | Fair Value Inputs Level 3
Collateral dependent loans with an ACL	$ 293,000
Construction/Land Development [Member]
Impaired loans		293,000
Construction/Land Development [Member] | Fair Value Inputs Level 1
Impaired loans		0
Construction/Land Development [Member] | Fair Value Inputs Level 2
Impaired loans		0
Construction/Land Development [Member] | Fair Value Inputs Level 3
Impaired loans		$ 293,000

Fair Value (Details 2)

Fair Value (Details 2) - Fair Value Inputs Level 3 - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
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	$ 293
Range impaired loans	62%
Minimum [Member]
Range impaired loans		10%
Maximum [Member]
Range impaired loans		33%

Disclosures about Fair Value _3

Disclosures about Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Securities held to maturity	$ 125	$ 125
Loans held for investment, net	805,602
Bank owned life insurance	22,705	23,554
IRLC	122	92
Forward sales commitments	21	186
Carrying Amount [Member]
Cash and cash equivalents	22,158	34,953
Securities		392,220
Securities held to maturity	125
Securities available for sale	372,339
Loans held for sale	2,027	1,373
Loans held for investment, net	805,602	743,604
Interest receivable	4,645	3,995
Bank owned life insurance	22,705	23,554
IRLC	122	92
Forward sales commitments	21	186
Total Assets	1,229,744	1,199,885
Deposits	1,133,910	1,083,377
Short-term debt	60,000	70,000
Long-term debt	6,922	6,890
Interest payable	1,215	295
Total liabilities	1,202,047	1,160,654
Total Amount [Member]
Cash and cash equivalents	22,158	34,953
Securities		392,220
Securities held to maturity	113
Securities available for sale	372,339
Loans held for sale	2,027	1,373
Loans held for investment, net	773,821	720,806
Interest receivable	4,645	3,995
Bank owned life insurance	22,705	23,554
IRLC	122	92
Forward sales commitments	21	186
Total Assets	1,197,951	1,177,087
Deposits	1,133,833	1,080,909
Short-term debt	60,000	70,000
Long-term debt	6,656	6,778
Interest payable	1,215	295
Total liabilities	1,199,704	1,158,074
Fair Value Inputs Level 1
Cash and cash equivalents	22,158	34,953
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	22,158	34,953
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
Securities held to maturity	113
Securities available for sale	372,339
Loans held for sale	2,027	1,373
Loans held for investment, net	0	0
Interest receivable	4,645	3,995
Bank owned life insurance	22,705	23,554
IRLC	122	92
Forward sales commitments	21	186
Total Assets	401,972	421,328
Deposits	1,131,833	1,080,909
Short-term debt	0	0
Long-term debt	0	0
Interest payable	1,215	295
Total liabilities	1,133,048	1,081,296
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	773,821	720,806
Interest receivable	0	0
Bank owned life insurance	0	0
IRLC	0	0
Forward sales commitments	0	0
Total Assets	773,821	720,806
Deposits	0	0
Short-term debt	60,000	70,000
Long-term debt	6,656	6,778
Interest payable	0	0
Total liabilities	$ 66,656	$ 76,778

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Adjustments Related to Pension Plan
Beginning balance	$ 439	$ (3,291)	$ 439	$ (3,291)
Reclassification for previously unrealized net losses recognized in net income, net of tax benefit				0
Ending balance	439	(3,291)	439	(3,291)
Change in unrealized securities gains (losses), net of tax benefit	0	0	0	0
Accumulated Other comprehensive Income (Loss)
Beginning balance	(37,225)	(36,400)	(40,012)	(5,092)
Change in unrealized securities gains (losses), net of tax	(5,423)	(7,804)	(2,636)	(39,189)
Reclassification for previously unrealized net losses recognized in net income, net of tax benefit				77
Ending balance	(42,648)	(44,204)	(42,648)	(44,204)
Unrealized Securities Gains (Losses) [Member]
Beginning balance	(37,664)	(33,109)	(40,451)	(1,801)
Reclassification for previously unrealized net losses recognized in net income, net of tax benefit				77
Ending balance	(43,087)	(40,913)	(43,087)	(40,913)
Change in unrealized securities gains (losses), net of tax benefit	$ (5,423)	$ (7,804)	$ (2,636)	$ (39,189)

Debt (Details Narrative)

Debt (Details Narrative) - USD ($) $ in Millions	1 Months Ended
	Jul. 29, 2020	Sep. 30, 2023	Dec. 31, 2022
Short term debt		$ 60	$ 70
Subordinated Debt		$ 6.9
2030 Notes [Member] | Accredited Investor [Member]
Interest Rate	6%
Interest Rate Description	The note initially bears 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
Maturity Date	July 31, 2030

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Total noninterest income	$ 2,527	$ 2,282	$ 7,645	$ 7,842
Service Charges on Deposits
Total noninterest income	256	255	755	836
Investment Services and Insurance Income
Total noninterest income	374	316	1,236	1,020
Title Insurance Income
Total noninterest income	444	376	1,069	1,215
ATM and check card fees
Total noninterest income	672	628	1,971	1,823
Other
Total noninterest income	268	173	628	668
Noninterest Income (in-scope of Topic 606)
Total noninterest income	2,014	1,748	5,659	5,562
Noninterest Income (out-of-scope of Topic 606)
Total noninterest income	$ 513	$ 534	$ 1,986	$ 2,280

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Lease liabilities	$ 773		$ 773
Long-Term Lease Agreements [Member]
Lease liabilities	773		773
Right-of-use assets	$ 755		$ 755
Weighted average discount rate	3.30%		3.30%
Weighted average remaining lease term			1 year 9 months 7 days
Operating lease cost	$ 40	$ 75	$ 123	$ 169
Total lease cost	40	75	123	169
Cash paid for amounts included in the measurement of lease liabilities	$ 44	$ 100	$ 149	$ 205

Leases (Details 1)

Leases (Details 1) $ in Thousands	Sep. 30, 2023 USD ($)
Leases
Nine months ending December 31, 2023	$ 44
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	919
Discount	146
Lease Liabilites	$ 773

Subsequent Events (Details Narr

Subsequent Events (Details Narrative)	Nov. 07, 2023
Subsequent Event
Description of maximum potential one-time expense	they are offering an early retirement program to certain employees during the fourth quarter of 2023. The maximum potential one-time expense associated with this program is currently estimated to be $1,812,427