SB FINANCIAL GROUP, INC., 10-Q filed on 5/8/2025
Quarterly Report
v3.25.1
Cover - shares
 3 Months Ended
Mar. 31, 2025
May 08, 2025
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Transition Report false  
Entity Interactive Data Current Yes  
Amendment Flag false  
Document Period End Date Mar. 31, 2025  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Entity Information [Line Items]    
Entity Registrant Name SB FINANCIAL GROUP, INC.  
Entity Central Index Key 0000767405  
Entity File Number 1-36785  
Entity Tax Identification Number 34-1395608  
Entity Incorporation, State or Country Code OH  
Current Fiscal Year End Date --12-31  
Entity Current Reporting Status Yes  
Entity Shell Company false  
Entity Filer Category Non-accelerated Filer  
Entity Small Business true  
Entity Emerging Growth Company false  
Entity Contact Personnel [Line Items]    
Entity Address, Address Line One 401 Clinton Street  
Entity Address, City or Town Defiance  
Entity Address, State or Province OH  
Entity Address, Postal Zip Code 43512  
Entity Phone Fax Numbers [Line Items]    
City Area Code (419)  
Local Phone Number 783-8950  
Entity Listings [Line Items]    
Title of 12(b) Security Common Shares, No Par Value  
Trading Symbol SBFG  
Security Exchange Name NASDAQ  
Entity Common Stock, Shares Outstanding   6,525,127
v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 105,145 $ 25,928
Interest bearing time deposits 1,565 1,565
Available-for-sale securities 199,721 201,587
Loans held for sale 4,286 6,770
Loans, net of unearned income 1,088,274 1,046,735
Allowance for credit losses (15,391) (15,096)
Premises and equipment, net 21,875 20,456
Federal Reserve and Federal Home Loan Bank Stock, at cost 5,340 5,223
Foreclosed assets and other assets held for sale, net 73
Interest receivable 5,072 4,908
Goodwill 27,158 23,239
Cash value of life insurance 30,871 30,685
Mortgage servicing rights 14,965 14,868
Other assets 12,048 12,649
Total assets 1,501,002 1,379,517
Liabilities    
Non interest bearing demand 240,446 232,155
Interest bearing demand 208,583 201,085
Savings 285,902 237,987
Money market 257,013 222,161
Time deposits 279,276 259,217
Total deposits 1,271,220 1,152,605
Repurchase agreements 11,058 10,585
Federal Home Loan Bank advances 35,000 35,000
Trust preferred securities 10,310 10,310
Subordinated debt net of issuance costs 19,702 19,690
Interest payable 2,634 2,351
Other liabilities 19,552 21,468
Total liabilities 1,369,476 1,252,009
Commitments & Contingent Liabilities
Shareholders’ Equity    
Preferred stock, no par value; authorized 200,000 shares; 2025 - 0 shares outstanding, 2024 - 0 shares outstanding
Common stock, no par value;2025 - 10,500,000 shares authorized, 8,525,375 shares issued; 2024 - 10,500,000 shares authorized, 8,525,375 shares issued 61,319 61,319
Additional paid-in capital 14,955 15,194
Retained earnings 117,397 116,186
Accumulated other comprehensive loss (26,872) (30,234)
Treasury stock, at cost;(2025 - 1,994,729 common shares; 2024 - 1,977,538 common shares) (35,273) (34,957)
Total shareholders’ equity 131,526 127,508
Total liabilities and shareholders’ equity $ 1,501,002 $ 1,379,517
v3.25.1
Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares
shares in Thousands
Mar. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock, par value (in Dollars per share)
Preferred stock, shares authorized 200,000 200,000
Preferred stock, shares outstanding 0 0
Common stock, par value (in Dollars per share)
Common stock, shares authorized 10,500,000 10,500,000
Common stock, shares issued 8,525,375 8,525,375
Treasury stock shares 1,994,729 1,977,538
v3.25.1
Condensed Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Loans    
Taxable $ 15,244 $ 13,547
Tax exempt 115 123
Securities    
Taxable 1,169 1,274
Tax exempt 38 37
Other interest income 806 319
Total interest income 17,372 15,300
Interest Expense    
Deposits 5,352 5,090
Repurchase agreements & other 24 34
Federal Home Loan Bank advance expense 362 613
Trust preferred securities expense 160 188
Subordinated debt expense 195 195
Total interest expense 6,093 6,120
Net Interest Income 11,279 9,180
Provision for credit losses - loans 374 (86)
Provision for unfunded commitments 13 86
Total provision for credit losses 387
Net interest income after provision for credit losses 10,892 9,180
Noninterest Income    
Wealth management fees 864 865
Customer service fees 879 880
Gain on sale of mortgage loans & OMSR 849 781
Mortgage loan servicing fees, net 611 763
Gain on sale of non-mortgage loans 15 10
Title insurance income 397 266
Other income 492 386
Total noninterest income 4,107 3,951
Noninterest Expense    
Salaries and employee benefits 6,237 5,352
Net occupancy expense 893 769
Equipment expense 1,072 1,077
Data processing fees 1,439 769
Professional fees 1,034 758
Marketing expense 165 197
Telephone and communications 139 105
Postage and delivery expense 137 97
State, local and other taxes 224 245
Employee expense 174 178
Other expense 896 735
Total noninterest expense 12,410 10,282
Income before income tax 2,589 2,849
Provision for income taxes 431 481
Net Income $ 2,158 $ 2,368
Basic earnings per common share (in Dollars per share) $ 0.33 $ 0.35
Diluted earnings per common share (in Dollars per share) $ 0.33 $ 0.35
Average common shares outstanding (in thousands):    
Basic (in Shares) 6,481,000 6,715,000
Diluted (in Shares) 6,502,000 6,723,000
v3.25.1
Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Comprehensive Income [Abstract]    
Net income $ 2,158 $ 2,368
Other comprehensive income (loss)    
Gross unrealized holding gains (losses) arising in the period 4,256 (2,172)
Related tax (expense) benefit (894) 456
Net effect on other comprehensive income (loss) 3,362 (1,716)
Total comprehensive income $ 5,520 $ 652
v3.25.1
Condensed Consolidated Statements of Shareholders’ Equity (unaudited) - USD ($)
$ in Thousands
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Treasury Stock
Total
Balance at Dec. 31, 2023 $ 61,319 $ 15,124 $ 108,486 $ (29,831) $ (30,756) $ 124,342
Net income     2,368     2,368
Other comprehensive income (loss)       (1,716)   (1,716)
Cash dividends on common, per share     (917)     (917)
Restricted stock vesting   (313)     313
Repurchased stock         (521) (521)
Stock based compensation expense   167       167
Balance at Mar. 31, 2024 61,319 14,978 109,937 (31,547) (30,964) 123,723
Balance at Dec. 31, 2024 61,319 15,194 116,186 (30,234) (34,957) 127,508
Net income     2,158     2,158
Other comprehensive income (loss)       3,362   3,362
Cash dividends on common, per share     (947)     (947)
Restricted stock vesting   (396)     396
Repurchased stock         (712) (712)
Stock based compensation expense   157       157
Balance at Mar. 31, 2025 $ 61,319 $ 14,955 $ 117,397 $ (26,872) $ (35,273) $ 131,526
v3.25.1
Condensed Consolidated Statements of Shareholders’ Equity (unaudited) (Parentheticals) - $ / shares
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]    
Cash dividends on common, per share $ 0.145 $ 0.135
Repurchased stock, shares 33,478,000 30,048,000
v3.25.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net Income $ 2,158 $ 2,368
Items not requiring (providing) cash    
Depreciation and amortization 544 552
Provision for credit losses 387
Expense of share-based compensation plan 157 167
Amortization of premiums and discounts on securities 106 126
Amortization of intangible assets 101 17
Amortization of originated mortgage servicing rights 293 273
Recovery of mortgage servicing rights (10) (181)
Proceeds from sale of loans held for sale 39,279 36,623
Originations of loans held for sale (36,311) (38,414)
Gain from sale of loans (864) (791)
Changes in    
Interest receivable (164) 73
Other assets 2,173 (723)
Interest payable & other liabilities (1,146) 218
Net cash provided by operating activities 6,703 308
Investing Activities    
Purchases of available-for-sale securities (100)
Proceeds from maturities of interest bearing time deposits (882)
Proceeds from maturities of available-for-sale securities 6,117 4,171
Proceeds from sales of available-for-sale securities 30,123
Net change in loans (23,030) 8,603
Purchase of premises, equipment (923) (159)
Purchase of bank owned life insurance (800)
Purchase of Federal Reserve and Federal Home Loan Bank Stock (275)
Proceeds from sale of Federal Home Loan Bank Stock 1,042
Proceeds from sale of foreclosed assets 1
Acquisition, net of cash acquired (paid) (3,014)
Net cash provided by investing activities 9,173 11,701
Financing Activities    
Net increase in demand deposits, money market, interest checking & savings accounts 45,468 44,885
Net (decrease) increase in time deposits 20,059 (2,748)
Net increase (decrease) in securities sold under agreements to repurchase 473 (471)
Proceeds from Federal Home Loan Bank advances 110,500
Repayment of Federal Home Loan Bank advances (1,000) (159,100)
Stock repurchase plan (712) (521)
Cash dividends on common shares (947) (917)
Net cash provided (used in) by financing activities 63,341 (8,372)
Increase in cash and cash equivalents 79,217 3,637
Cash and cash equivalents, beginning of period 25,928 22,965
Cash and cash equivalents, end of period 105,145 26,602
Supplemental cash flow information    
Interest paid 6,257 5,791
Income taxes paid
Supplemental non-cash disclosure    
Transfer of loans to foreclosed assets 73
In conjunction with the Marblehead acquisition, liabilities assumed were:    
Fair value of assets acquired 59,161
Cash paid in acquisition (5,009)
Liabilities assumed $ 54,152
v3.25.1
Basis of Presentation
 3 Months Ended
Mar. 31, 2025
Basis of Presentation [Abstract]  
BASIS OF PRESENTATION

NOTE 1—BASIS OF PRESENTATION

 

SB Financial Group, Inc., an Ohio corporation (“SBFG”), is a financial holding company whose principal activity is the ownership and management of its wholly-owned subsidiaries, including The State Bank and Trust Company (“State Bank”), SBFG Title, LLC (“SBFG Title”), and SB Captive, Inc. (“SB Captive”). State Bank owns all of the outstanding stock of State Bank Insurance, LLC (“SBI”). In December 2024, SBFG completed the dissolution of four of its inactive subsidiaries – RFCBC, Inc., Rurbanc Data Services, Inc., Rurban Mortgage Company and SBFG Mortgage, LLC.

 

The consolidated financial statements include the accounts of SBFG, State Bank, SBFG Title, SB Captive and SBI (collectively, the “Company”). All significant intercompany accounts and transactions have been eliminated in consolidation.

 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions for Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The financial statements reflect all adjustments that are, in the opinion of management, necessary to fairly present the financial position, results of operations and cash flows of the Company. Those adjustments consist only of normal recurring adjustments. Results of operations for the three-months ended March 31, 2025, are not necessarily indicative of results for the complete year.

 

The condensed consolidated balance sheet of the Company as of December 31, 2024, has been derived from the audited consolidated balance sheet of the Company as of that date.

 

For further information, refer to the consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

 

Adoption of New Accounting Standards:

 

Accounting Standards Update (“ASU”) No. 2020-04: Reference Rate Reform – Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Topic 848)

 

This guidance provides temporary options to ease the potential burden in accounting for reference rate reform. It is intended to help stakeholders during the global market-wide reference rate transition period. The guidance was initially effective as of March 12, 2020, through December 31, 2022. However, a deferral of the implementation of the Reference Rate Reform was issued in December of 2022, which extended the implementation through December 31, 2024. The Company has implemented a replacement for the reference rate and has determined that the changes did not have a material impact on the Company’s consolidated financial statements.

 

ASU No. 2023-07: Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures

 

This ASU expands operating segment disclosures and requires all segment disclosures to be reported in both annual and interim periods. The new standard requires disclosure of the following: significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) for reportable segments; the title and position of the CODM as well as how the CODM uses the reported measure(s) of profit and loss to assess segment performance; and “other segment items” by reportable segment and a description of its composition. The Company adopted the standard on January 1, 2024, and its adoption did not have a material effect on our financial statements.

Accounting Standards not yet adopted:

 

ASU No. 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures

 

In December 2023, the Financial Accounting Standards Bord (“FASB”) issued ASU 2023-09: Income Taxes (Topic 740) Improvements to Income Tax Disclosures. The amendments in this ASU address investor requests for more transparency about income tax information through improvements to income tax disclosures, primarily related to effective tax rate reconciliation and information related to income taxes paid, among certain other amendments to improve the effectiveness of such disclosures. The amendments in this ASU are effective for annual periods beginning after December 15, 2024, and are to be applied on a prospective basis. Adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements.
v3.25.1
Earnings Per Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 2 - EARNINGS PER SHARE

 

Earnings per share (“EPS”) have been computed based on the weighted average number of common shares outstanding during the periods presented. The average number of common shares used in the computation of basic and diluted earnings per share are set forth in the table below. There were no anti-dilutive shares in 2025 or 2024. Participating securities in the table reflect nonvested restricted shares that participate in dividends declared and paid by the Company on its common shares prior to vesting of the restricted shares.

 

   Three Months Ended March 31, 
($ and outstanding shares in thousands - except per share data)  2025   2024 
         
Distributed earnings allocated to common shares  $947   $917 
Undistributed earnings allocated to common shares   1,204    1,443 
           
Net earnings allocated to common shares   2,151    2,360 
Net earnings allocated to participating securities   7    8 
           
Net Income allocated to common shares and participating securities  $2,158   $2,368 
           
Weighted average shares outstanding for basic earnings per share   6,481    6,715 
Dilutive effect of stock compensation   21    8 
           
Weighted average shares outstanding for diluted earnings per share   6,502    6,723 
           
Basic earnings per common share  $0.33   $0.35 
           
Diluted earnings per common share  $0.33   $0.35 
v3.25.1
Business Combination
 3 Months Ended
Mar. 31, 2025
Business Combination [Abstract]  
BUSINESS COMBINATION

NOTE 3 – BUSINESS COMBINATION

 

Effective January 17, 2025, the Company acquired all of the outstanding common shares of Marblehead Bancorp and its subsidiary The Marblehead Bank of Marblehead, Ohio (collectively, “Marblehead”). Marblehead was headquartered in Marblehead, Ohio and had two retail offices. At closing, Marblehead Bancorp was merged with and into SBFG, with SBFG surviving, and immediately thereafter, The Marblehead Bank was merged with and into State Bank, with State Bank surviving. Under the terms of the merger agreement, shareholders of Marblehead received fixed consideration of $196.31 in cash for each share of Marblehead common stock for total consideration of $5.0 million. The Company accounted for the transaction under the acquisition method of accounting, which means that the acquired assets and liabilities were recorded at fair value at the date of acquisition.

 

In accordance with ASC 805, the Company expensed approximately $0.7 million of direct acquisition costs during the three months ended March 31, 2025. The $0.7 million in merger expense is split between data processing and professional fees expense. As a result of the acquisition, the Company recorded $3.9 million of goodwill and $1.7 million of intangible assets in the first quarter of 2025. Loans acquired with deteriorated credit quality (“PCD loans”) since origination were not material. The acquisition of Marblehead enabled the Company to increase both its deposit and loan base and acquire new households in a new market. It is expected that this transaction will result in business synergies and economies of scale. The acquisition was consistent with the Company’s strategy to expand its presence in Northwest Ohio and to increase profitability by introducing existing products and services to the acquired customer base. The intangible assets are related to core deposits, which are being amortized over 10 years on a straight-line basis. For tax purposes, goodwill is non-deductible but will be evaluated annually for impairment.

The following table summarizes the fair value of the total consideration transferred as part of the acquisition as well as the fair value of identifiable assets and liabilities assumed as of the effective date of the transaction based on assumptions that are subject to change as management continues to evaluate as relevant information becomes available. If, prior to the end of the one-year measurement period for finalizing the purchase price allocation, relevant information becomes available which would indicate adjustments are required to the purchase price allocation, such adjustments will be recorded in the reporting period in which the adjustment amounts are determined. Potential adjustments, if any, will be related to assets that have may have changes to valuation amounts that were not readily determinable at acquisition date.

 

($ in thousands)  January 17,
2025		 
     
Fair value of assets acquired    
     
Cash and cash equivalents  $1,995 
Investment securities   30,123 
Federal Reserve and Federal Home Loan Bank stock   117 
Loans held for investment   18,661 
Premises and equipment   1,036 
Goodwill   3,919 
Core deposit intangible   1,710 
Other assets   1,600 
Total assets acquired  $59,161 
      
Fair value of liabilities assumed     
      
Deposits  $53,088 
Other liabilities   1,064 
Total liabilities assumed   54,152 
Total purchase price (cash)  $5,009 

 

Pro Forma Financial Information

 

The results of operations of Marblehead have been included in the Company’s consolidated financial statements since the acquisition date of January 17, 2025. The following schedule includes the pro forma results for the three months ended March 31, 2025, and 2024, as if the Marblehead acquisition had occurred as of the beginning of the reporting periods presented. The acquisition added less than $0.3 million in revenue to the Company for the three months ended March 31, 2025.

   Three Months Ended 
Summary of Operations ($ in thousands)  Mar. 2025   Mar. 2024 
         
Net interest income  $11,339   $9,529 
Provision for loan losses   387    
-
 
           
Net interest income after provision  $10,952   $9,529 
           
Non interest income   4,111    3,971 
Non interest expense   12,669    10,728 
           
Income before income taxes  $2,394   $2,772 
Income tax expense*   431    481 
           
Net income to common shareholders  $1,963   $2,291 
           
Basic earnings per share  $0.30   $0.34 
Diluted earnngs per share  $0.30   $0.34 

 

*Income tax expense for Marblehead calculated using a 21% statuatory rate
v3.25.1
Available-for-Sale Securities
 3 Months Ended
Mar. 31, 2025
Available-for-Sale Securities [Abstract]  
AVAILABLE-FOR-SALE SECURITIES

Note 4 – AVAILABLE-FOR-SALE Securities

 

The amortized cost and appropriate fair values, together with gross unrealized gains and losses, of securities at March 31, 2025, and December 31, 2024, were as follows:

 

       Gross   Gross     
($ in thousands)  Amortized   Unrealized   Unrealized     
   Cost   Gains   Losses   Fair Value 
March 31, 2025                
U.S. Treasury and Government agencies  $6,918   $2   $(602)  $6,318 
Mortgage-backed securities   198,737    4    (30,120)   168,621 
State and political subdivisions   10,879    
         -
    (1,450)   9,429 
Other corporate securities   17,200    
-
    (1,847)   15,353 
                     
Totals  $233,734   $6   $(34,019)  $199,721 

 

       Gross   Gross     
   Amortized   Unrealized   Unrealized     
   Cost   Gains   Losses   Fair Value 
December 31, 2024                
U.S. Treasury and Government agencies  $8,120   $
         -
   $(731)  $7,389 
Mortgage-backed securities   203,646    4    (34,030)   169,620 
State and political subdivisions   10,893    
-
    (1,486)   9,407 
Other corporate securities   17,200    
-
    (2,029)   15,171 
                     
Totals  $239,859   $4   $(38,276)  $201,587 

 

The amortized cost and fair value of securities available-for-sale at March 31, 2025, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

   Amortized   Fair 
($ in thousands)  Cost   Value 
         
Within one year  $1,039   $1,039 
Due after one year through five years   1,132    1,117 
Due after five years through ten years   25,913    23,274 
Due after ten years   6,913    5,670 
    34,997    31,100 
Mortgage-backed securities   198,737    168,621 
           
Totals  $233,734   $199,721 

 

The fair value of securities pledged as collateral, to secure public deposits and for other purposes, was $134.1 million at March 31, 2025, and $115.5 million at December 31, 2024. The fair value of securities delivered for repurchase agreements was $13.7 million at March 31, 2025, and $17.3 million at December 31, 2024.

 

There were no realized gains or losses from sales of available-for-sale securities for the three months ended March 31, 2025, or March 31, 2024.

 

Certain investments in debt securities are reported in the consolidated financial statements at an amount less than their historical cost. Total fair value of these investments was $199.1 million at March 31, 2025, and $201.3 million at December 31, 2024, which consisted of 134 securities, or approximately 93 percent, and 138 securities, or approximately 99 percent, respectively, of the Company’s available-for-sale investment portfolio at such dates. Based on evaluation of available evidence, including recent changes in market interest rates, credit rating information and information obtained from regulatory filings, management believes the declines in fair value for these securities are temporary.

 

Securities with unrealized losses, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2025, and December 31, 2024, are as follows:

 

($ in thousands)      Less than 12 Months   12 Months or Longer   Total 
March 31, 2025  Number of
Securities		   Fair Value   Unrealized
Losses		   Fair Value   Unrealized
Losses		   Fair Value   Unrealized
Losses		 
                             
U.S. Treasury and Government agencies   8   $789   $
        -
   $5,177   $(602)  $5,966   $(602)
Mortgage-backed securities   91    
-
    
-
    168,346    (30,120)   168,346    (30,120)
State and political subdivisions   21    701    (12)   8,729    (1,438)   9,430    (1,450)
Other corporate securities   14    
-
    
-
    15,353    (1,847)   15,353    (1,847)
                                    
Totals   134   $1,490   $(12)  $197,605   $(34,007)  $199,095   $(34,019)

 

       Less than 12 Months   12 Months or Longer   Total 
December 31, 2024  Number of
Securities		   Fair Value   Unrealized
Losses		   Fair Value   Unrealized
Losses		   Fair Value   Unrealized
Losses		 
                             
U.S. Treasury and Government agencies   11   $1,929   $
        -
   $5,460   $(731)  $7,389   $(731)
Mortgage-backed securities   92    
-
   $
-
    169,286    (34,030)   169,286    (34,030)
State and political subdivisions   21    1,319   $(21)   8,088    (1,465)   9,407    (1,486)
Other corporate securities   14    385   $(115)   14,786    (1,914)   15,171    (2,029)
                                    
Totals   138   $3,633   $(136)  $197,620   $(38,140)  $201,253   $(38,276)

Based on evaluation of available evidence, including recent changes in market interest rates, credit rating information and information obtained from regulatory filings, management believes the declines in fair value for these securities are temporary. Management reviews these securities on a quarterly basis and evaluates if any security has a fair value less than its amortized cost. Once these securities are identified, management determines whether a decline in fair value resulted from a credit loss 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, a provision is recorded to the allowance for credit losses (the “ACL”).

 

Changes in the ACL are recorded as provision for (or reversal of) credit losses. Available-for-sale securities are charged-off against the allowance or, in the absence of any allowance, written down through income when deemed uncollectible by management or when either of the aforementioned criteria regarding intent or requirement to sell is met. At March 31, 2025, and December 31, 2024, no ACL on available-for-sale securities was recorded.

 

Management has made the accounting policy election to exclude accrued interest receivable on available-for-sale securities from the estimate of credit losses. Accrued interest receivable on available-for-sale debt securities totaled $0.6 million at March 31, 2025 and $0.6 million at December 31, 2024. Should the decline in fair value be the result of credit losses or other factors, the security would be moved to nonaccrual status and all accrued interest reversed.
v3.25.1
Loans and Allowance for Credit Losses
 3 Months Ended
Mar. 31, 2025
Loans and Allowance for Credit Losses [Abstract]  
LOANS AND ALLOWANCE FOR CREDIT LOSSES

NOTE 5 – LOANS AND ALLOWANCE FOR CREDIT LOSSES

 

Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or payoffs, are reported at their outstanding principal balances adjusted for any charge-offs, the allowance for credit losses, any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Interest income is reported on the interest method and includes amortization of net deferred loan fees and costs over the loan term. Generally, all loan classes are placed on nonaccrual status not later than 90 days past due, unless the loan is well-secured and in the process of collection. All interest accrued, but not collected, for loans that are placed on nonaccrual or charged-off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

 

The following table summarizes the composition of the loan portfolio:

 

   Total Loans 
($ in thousands)  March 31,
2025		   December 31,
2024		 
         
Commercial & industrial  $125,878   $124,764 
Commercial real estate - owner occupied   140,019    134,431 
Commercial real estate - nonowner occupied   369,499    345,142 
Agricultural   61,443    64,680 
Residential real estate   319,307    308,378 
Home equity line of credit (HELOC)   55,443    53,811 
Consumer   16,685    15,529 
           
Total loans   1,088,274    1,046,735 
Allowance for credit losses   (15,391)   (15,096)
           
Loans, net  $1,072,883   $1,031,639 

The totals shown above are net of accretable discounts on acquired loans and deferred loan fees and costs, which totaled $0.67 million in net fees at March 31, 2025, and $0.15 million in net costs at December 31, 2024.

 

The risk characteristics of each loan portfolio segment are as follows:

 

Commercial & Industrial and Agricultural

 

Commercial & industrial loans and agricultural loans are primarily underwritten based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets, such as accounts receivable or inventory, and may include a personal guarantee. Short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers.

 

Commercial Real Estate (Owner and Nonowner Occupied)

 

Commercial real estate loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. The characteristics of properties securing the Company’s commercial real estate portfolio are diverse, but with geographic location almost entirely in the Company’s market area. Management monitors and evaluates commercial real estate loans based on collateral, geography and risk grade criteria. In general, the Company avoids financing single purpose projects unless other underwriting factors are present to help mitigate risk. In addition, management tracks the level of owner-occupied versus non-owner-occupied commercial real estate loans.

 

Construction loans are underwritten utilizing feasibility studies, independent appraisal reviews and financial analysis of the developers and property owners. Construction loans are generally underwritten based on estimates of costs and value associated with the completed project. These estimates may be inaccurate. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing.

 

Residential Real Estate, HELOC and Consumer

 

Residential and consumer loans consist of two segments – residential mortgage loans and personal loans. Residential mortgage loans are secured by 1-4 family residences and are generally owner-occupied, and the Company generally establishes a maximum loan-to-value ratio and requires private mortgage insurance if that ratio is exceeded. HELOCs are typically secured by a subordinate interest in 1-4 family residences, and consumer personal loans are secured by consumer personal assets, such as automobiles or recreational vehicles. Some consumer personal loans are unsecured, such as small installment loans and certain lines of credit. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas, such as unemployment levels. Repayment can also be impacted by changes in property values on residential properties. Risk is mitigated by the fact that these loans are of smaller individual amounts and spread over a large number of borrowers.

 

Allowance for Credit Losses (ACL)

 

The ACL 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 that the uncollectability of a loan balance is confirmed. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off.

Management estimates the ACL using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as changes in environmental conditions, such as changes in unemployment rates, property values, or other relevant factors.

 

Accrued interest receivable related to loans totaled $3.4 million at March 31, 2025, and $3.3 million at December 31, 2024, and is excluded from the estimate of credit losses.

 

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:

 

●Commercial & Industrial - Commercial & industrial loans consist of loans or lines of credit to finance accounts receivable, inventory or other general business needs, and lease financing agreements for equipment, vehicles, or other assets. The primary risk associated with commercial & industrial loans and lease financing agreements is the ability of borrowers to achieve business results consistent with those projected at origination. Failure to achieve these projections presents risk the borrower will be unable to service the debt consistent with the contractual terms of the loan or lease.

 

●Commercial Real Estate - Owner Occupied - Owner occupied commercial real estate loans consist of loans to purchase, construct, or refinance owner occupied nonresidential properties. This includes office buildings and other commercial facilities. Commercial mortgages secured by owner occupied properties are primarily dependent on the ability of borrowers to achieve business results consistent with those projected at loan origination. While these loans are collateralized by real property in an effort to mitigate risk, it is possible the liquidation of collateral will not fully satisfy the obligation as the commercial real estate collateral may be more adversely affected by conditions in the real estate markets or in the general economy.

 

●Commercial Real Estate – Nonowner Occupied - Nonowner occupied commercial real estate loans consist of loans to purchase, construct, or refinance investment nonresidential properties. This includes office buildings and other facilities rented or leased to unrelated parties, as well as multifamily properties. The primary risk associated with nonowner occupied commercial real estate loans is the ability of the income-producing property that collateralizes the loan to produce adequate cash flow to service the debt. While these loans are collateralized by real property in an effort to mitigate risk, it is possible the liquidation of collateral will not fully satisfy the obligation as the commercial real estate collateral may be more adversely affected by conditions in the real estate markets or in the general economy.

 

●Agricultural - Agricultural loans consist of loans or lines of credit to finance farmland, equipment, and general business needs or other assets. The primary risk associated with agricultural loans is the ability of borrowers to achieve business results consistent with those projected at origination. Failure to achieve these projections presents risk the borrower will be unable to service the debt consistent with the contractual terms of the loan.

 

●Residential Real Estate – Residential real estate mortgage loans consist of loans to purchase, construct, or refinance the borrower’s primary dwelling, second residence or vacation home and are often secured by 1-4 family residential property. Significant and rapid declines in real estate values can result in borrowers having debt levels in excess of the current market value of the collateral.

 

●Home Equity Line of Credit (HELOCs) - Home equity loans consist of HELOCs and other lines of credit secured by first or second liens on the borrower’s primary residence. These loans are secured by both senior and junior liens on the residential real estate and are particularly susceptible to declining collateral values. This risk is elevated for loans secured by junior liens as a substantial decline in value could render the junior lien position effectively unsecured.
●Consumer - Consumer loans consist of loans to finance unsecured home improvements, personal assets, such as automobiles or recreational vehicles, and revolving lines of credit that can be secured or unsecured. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas. The value of the underlying collateral within this class is at risk of potential rapid depreciation which could result in unpaid balances in excess of the collateral.

 

The Company utilizes a Discounted Cash Flow (“DCF”) method to estimate the quantitative portion of the ACL for all loan pools evaluated on a collective pooled basis, with the exception of the credit card and consumer loan portfolios, which were estimated using the Remaining Life Method. For each segment, a Loss Driver Analysis (“LDA”) was performed in order to identify appropriate loss drivers and create a regression model for use in forecasting cash flows. The LDA utilized the Company’s own Federal Financial Institutions Examination Council’s (“FFIEC”) Call Report data, as well as peer institution data.

 

In creating the DCF model, the Company has established a one-year reasonable and supportable forecast period with a one-year straight line reversion to the long-term historical average. The Company’s own loan-level loss data from January 2016 through March 31, 2025, contained within the model was supplemented with peer data in most loan pools as there was not sufficient loan-level detail from prior cycles reflecting similar economic conditions as the forecasted loss drivers to result in a sound calculation.

 

Key inputs into the DCF model include loan-level detail, including the amortized cost basis of individual loans, payment structure, loss history, and forecasted loss drivers. The Company utilizes data from Federal Reserve Economic Data (“FRED”) to provide economic forecasts under various scenarios, which are applied to loan pools to reflect credit risk in the current economic environment.

 

Additional key assumptions in the DCF model include the probability of default (“PD”), loss given default (“LGD”), and prepayment/curtailment rates. When possible, the Company utilizes its own PDs for the reasonable and supportable forecast period. When it is not possible to use the Company’s own PDs, the LDA is utilized to determine PDs based on the forecasted economic factors. When possible, the Company utilizes its own LGDs for the reasonable and supportable forecast period. When it is not possible to use the Company’s own LGDs, the LGD is derived using a method referred to as Frye Jacobs. The Frye Jacobs method is a mathematical formula that traces the relationship between LGD and PD over time and projects the LGD based on the level of PD forecasted. In all cases, the Frye Jacobs method is utilized to calculate LGDs during the reversion period and long-term historical average. The Company utilizes its own prepayment and curtailment rates in the ACL estimate. In pools where observations are not sufficient, the Company utilizes the model’s most relevant benchmark rate.

 

Management also considers further adjustments to historical loss information for current conditions and reasonable and supportable forecasts that differ from the conditions that exist for the period over which historical information is evaluated as well as other changes in qualitative factors not inherently considered in the quantitative analyses. A number of factors are considered including economic forecast uncertainty, credit quality trends, valuation trends, concentration risk, quality of loan review, changes in personnel, impact of rising interest rates, external factors and other considerations. The resulting qualitative adjustments are applied to the relevant collectively evaluated loan pools. The qualitative analysis increases or decreases the allowance allocation for each loan pool based on the assessment of factors described above. During each reporting period, management also considers the need to adjust the baseline lifetime loss rates for factors that may cause expected losses to differ from those experienced in the historical loss periods.

 

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.

The Company is also required to consider expected credit losses associated with loan commitments over the contractual period in which it is exposed to credit risk on the underlying commitments. Any allowance for off-balance sheet credit exposures is reported in Other liabilities on the Company’s consolidated balance sheet and is increased or decreased through a provision for credit loss expense on the Company’s consolidated statement of income. The calculation includes consideration of the likelihood that funding will occur and forecasted credit losses on commitments expected to be funded over their estimated lives. The allowance is calculated using the same methodology, inputs and assumptions as the funded portion of loans at the segment level applied to the amount of commitments expected to be funded.

 

While the Company’s policies and procedures used to estimate the ACL, as well as the resultant provision for credit losses charged to income, are considered adequate by management and are reviewed periodically by regulators, model validators and internal audit, they are necessarily approximate and imprecise. There are factors beyond the Company’s control, such as changes in projected economic conditions, real estate markets or particular industry conditions, which may materially impact asset quality and the adequacy of the ACL and thus the resulting provision for credit losses.

 

During the first quarter of 2025, the Company completed the acquisition of Marblehead, in Marblehead, Ohio. The Company performed an analysis of the acquired non-PCD loan portfolio as part of the acquisition process and recorded a provision for credit losses of $0.23 million subsequent to the date of acquisition. The following tables summarize the activity related to the ACL for the three months ended March 31, 2025, and March 31, 2024, and for the twelve months ended December 31, 2024.

 

($ in thousands)
For the three months ended
March 31, 2025		  Balance, beginning of period   Chargeoffs   Recoveries   Provision for Credit Losses   Balance, end of period 
                     
Commercial & industrial  $2,666   $       (61)  $
            -
   $       (166)  $2,439 
Commercial real estate - owner occupied   1,806    
-
    
-
    58    1,864 
Commercial real estate - nonowner occupied   5,721    
-
    
-
    333    6,054 
Agricultural   884    
-
    
-
    (22)   862 
Residential real estate   3,330    
-
    
-
    128    3,458 
HELOC   520    (4)   
-
    23    539 
Consumer   169    (21)   2    25    175 
Total  $15,096   $(86)  $2   $379   $15,391 

 

($ in thousands)
For the three months ended
March 31, 2024		  Balance, beginning of period   Chargeoffs   Recoveries   Provision for Credit Losses   Balance, end of period 
                     
Commercial & industrial  $2,003   $     (42)  $          6   $      626   $2,593 
Commercial real estate - owner occupied   1,952    
-
    
-
    57    2,009 
Commercial real estate - nonowner occupied   5,718    
-
    
-
    (240)   5,478 
Agricultural   440    
-
    
-
    528    968 
Residential real estate   4,936    
-
    
-
    (1,075)   3,861 
HELOC   510    
-
    
-
    14    524 
Consumer   227    (24)   3    4    210 
Total  $15,786   $(66)  $9   $(86)  $15,643 

 

($ in thousands)
For the twelve months ended
December 31, 2024		  Balance, beginning of period   Chargeoffs   Recoveries   Provision for Credit Losses   Balance, end of period 
                     
Commercial & industrial  $2,003   $     (233)  $             5   $       891   $2,666 
Commercial real estate - owner occupied   1,952    
-
    
-
    (146)   1,806 
Commercial real estate - nonowner occupied   5,718    
-
    
-
    3    5,721 
Agricultural   440    
-
    
-
    444    884 
Residential real estate   4,936    (3)   
-
    (1,603)   3,330 
HELOC   510    
-
    
-
    10    520 
Consumer   227    (53)   34    (39)   169 
Total  $15,786   $(289)  $39   $(440)  $15,096 

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. The Company reviews individually evaluated loans for designation as collateral dependent loans, as well as other loans that management of the Company designates as having higher risk. These loans do not share common risk characteristics and are not included within the collectively evaluated loans for determining the ACL.

 

The following table presents an analysis of collateral-dependent loans of the Company as of March 31, 2025, and December 31, 2024.

 

($ in thousands)  Collateral Type   Allocated 
March 31, 2025  Real Estate   Other   Total   Allowance 
                 
Commercial & industrial  $2,518   $       1,244   $3,762   $               65 
Commercial real estate - owner occupied   429    
-
    429    13 
Commercial real estate - nonowner occupied   151    
-
    151    
-
 
Agricultural   
-
    
-
    
-
    
-
 
Residential real estate   1,099    
-
    1,099    24 
HELOC   
-
    
-
    
-
    
-
 
Consumer   
-
    
-
    
-
    
-
 
Total  $4,197   $1,244   $5,441   $102 

 

($ in thousands)  Collateral Type   Allocated 
December 31, 2024  Real Estate   Other   Total   Allowance 
                 
Commercial & industrial  $2,252   $        625   $2,877   $             380 
Commercial real estate - owner occupied   429    
-
    429    13 
Commercial real estate - nonowner occupied   370    
-
    370    
-
 
Agricultural   
-
    
-
    
-
    
-
 
Residential real estate   801    
-
    801    26 
HELOC   
-
    
-
    
-
    
-
 
Consumer   
-
    
-
    
-
    
-
 
Total  $3,852   $625   $4,477   $419 

 

Under the current expected credit loss (“CECL”) model, for collateral dependent loans, the Company has adopted the practical expedient to measure the ACL based on the fair value of collateral. The ACL 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.

Credit Risk Profile

 

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes loans with an outstanding balance greater than $100,000 and non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed on a quarterly basis. The Company uses the following definitions for risk ratings:

 

Pass (grades 1 – 4): Loans which management has determined to be performing as expected and in agreement with the terms established at the time of loan origination.

 

Special Mention (5): Loans have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the Company’s credit position at some future date. Special mention loans are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. Ordinarily, special mention credits have characteristics which corrective management action would remedy.

 

Substandard (6): Loans are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.

 

Doubtful (7): Loans classified as doubtful have all the weaknesses inherent in those classified as Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of current known facts, conditions and values, highly questionable and improbable.

 

Loss (8): Loans are considered uncollectable and of such little value that continuing to carry them as assets on the Company’s financial statement is not warranted. Loans will be classified as Loss when it is neither practical nor desirable to defer writing off or reserving all or a portion of a basically worthless asset, even though partial recovery may be possible at some time in the future.

 

The Company evaluates the loan risk grading system definitions and allowance for credit loss methodology on an ongoing basis. The following table presents loan balances by credit quality indicators and gross chargeoffs by loan category and year of origination as of March 31, 2025.

($ in thousands)  Term Loans by Year of Origination   Revolving    Revolving Loans Converted     
March 31, 2025  2025   2024   2023   2022   2021   Prior   Loans   to Term   Total 
                                     
Commercial & industrial                                    
Pass (1 - 4)  $5,496   $23,228   $11,182   $12,283   $13,800   $18,175   $34,712   $3,015   $121,891 
Special Mention (5)   -    36    -    -    238    129    25    -    428 
Substandard (6)   -    120    350    152    -    177    1,247    213    2,259 
Doubtful (7)   -    -    153    433    204    481    -    29    1,300 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $5,496   $23,384   $11,685   $12,868   $14,242   $18,962   $35,984   $3,257   $125,878 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $33   $28   $-   $61 
                                              
Commercial real estate - owner occupied                                             
Pass (1 - 4)  $6,650   $21,014   $25,413   $19,745   $23,921   $41,638   $1,158   $46   $139,585 
Special Mention (5)   -    -    -    -    -    430    -    -    430 
Substandard (6)   -    -    -    -    -    -    -    -    - 
Doubtful (7)   -    -    -    -    3    1    -    -    4 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $6,650   $21,014   $25,413   $19,745   $23,924   $42,069   $1,158   $46   $140,019 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Commercial real estate - nonowner occupied                                             
Pass (1 - 4)  $27,498   $97,732   $45,886   $50,648   $38,345   $108,593   $130   $-   $368,832 
Special Mention (5)   -    397    -    -    -    -    -    -    397 
Substandard (6)   -    -    -    151    -    119    -    -    270 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $27,498   $98,129   $45,886   $50,799   $38,345   $108,712   $130   $-   $369,499 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Agricultural                                             
Pass (1 - 4)  $3,017   $6,867   $7,866   $13,657   $10,599   $10,412   $9,025   $-   $61,443 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    -    -    -    -    -    -    - 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $3,017   $6,867   $7,866   $13,657   $10,599   $10,412   $9,025   $-   $61,443 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Residential real estate                                             
Pass (1 - 4)  $3,852   $32,776   $43,065   $101,738   $76,528   $59,728   $-   $-   $317,687 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    275    -    251    1,094    -    -    1,620 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $3,852   $32,776   $43,340   $101,738   $76,779   $60,822   $-   $-   $319,307 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Home equity line of credit (HELOC)                                             
Pass (1 - 4)  $-   $-   $-   $-   $11   $101   $48,525   $6,589   $55,226 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    -    -    -    44    136    37    217 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $-   $-   $-   $-   $11   $145   $48,661   $6,626   $55,443 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $4   $-   $-   $4 
                                              
Consumer                                             
Pass (1 - 4)  $525   $1,735   $2,089   $3,356   $1,045   $1,231   $6,700   $-   $16,681 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    -    4    -    -    -    -    4 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $525   $1,735   $2,089   $3,360   $1,045   $1,231   $6,700   $-   $16,685 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $21   $-   $21 
                                              
Total Loans                                             
Pass (1 - 4)  $47,038   $183,352   $135,501   $201,427   $164,249   $239,878   $100,250   $9,650   $1,081,345 
Special Mention (5)   -    433    -    -    238    559    25    -    1,255 
Substandard (6)   -    120    625    307    251    1,434    1,383    250    4,370 
Doubtful (7)   -    -    153    433    207    482    -    29    1,304 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total Loans  $47,038   $183,905   $136,279   $202,167   $164,945   $242,353   $101,658   $9,929   $1,088,274 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $37   $49   $-   $86 

The following table presents loan balances by credit quality indicators and gross chargeoffs by loan category and year of origination as of December 31, 2024.

 

($ in thousands)  Term Loans by Year of Origination   Revolving    Revolving Loans Converted     
December 31, 2024  2024   2023   2022   2021   2020   Prior   Loans   to Term   Total 
                                     
Commercial & industrial                                    
Pass (1 - 4)  $22,688   $12,927   $12,813   $14,207   $9,101   $10,022   $36,363   $3,204   $121,325 
Special Mention (5)   -    355    -    -    133    -    25    -    513 
Substandard (6)   -    -    585    -    -    673    1,147    88    2,493 
Doubtful (7)   -    153    -    204    -    48    -    28    433 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $22,688   $13,435   $13,398   $14,411   $9,234   $10,743   $37,535   $3,320   $124,764 
Current period gross chargeoffs  $-   $42   $25   $23   $143   $-   $-   $-   $233 
                                              
Commercial real estate - owner occupied                                             
Pass (1 - 4)  $15,070   $30,372   $20,002   $24,406   $13,491   $30,140   $463   $49   $133,993 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    -    -    430    -    -    -    430 
Doubtful (7)   -    -    -    7    -    1    -    -    8 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $15,070   $30,372   $20,002   $24,413   $13,921   $30,141   $463   $49   $134,431 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Commercial real estate - nonowner occupied                                             
Pass (1 - 4)  $94,098   $47,026   $50,942   $40,584   $39,093   $72,609   $118   $-   $344,470 
Special Mention (5)   398    -    -    -    -    -    -    -    398 
Substandard (6)   -    -    154    -    -    120    -    -    274 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $94,496   $47,026   $51,096   $40,584   $39,093   $72,729   $118   $-   $345,142 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Agricultural                                             
Pass (1 - 4)  $8,100   $8,295   $14,482   $10,748   $2,618   $8,967   $11,470   $-   $64,680 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    -    -    -    -    -    -    - 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $8,100   $8,295   $14,482   $10,748   $2,618   $8,967   $11,470   $-   $64,680 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Residential real estate                                             
Pass (1 - 4)  $31,291   $41,982   $100,375   $76,146   $28,237   $28,797   $-   $-   $306,828 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    279    -    256    50    965    -    -    1,550 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $31,291   $42,261   $100,375   $76,402   $28,287   $29,762   $-   $-   $308,378 
Current period gross chargeoffs  $-   $-   $-   $3   $-   $-   $-   $-   $3 
                                              
Home equity line of credit (HELOC)                                             
Pass (1 - 4)  $-   $-   $-   $12   $18   $51   $46,908   $6,591   $53,580 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    -    -    -    48    139    44    231 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $-   $-   $-   $12   $18   $99   $47,047   $6,635   $53,811 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Consumer                                             
Pass (1 - 4)  $1,909   $1,993   $3,247   $725   $319   $94   $7,229   $-   $15,516 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    13    -    -    -    -    -    13 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $1,909   $1,993   $3,260   $725   $319   $94   $7,229   $-   $15,529 
Current period gross chargeoffs  $-   $-   $-   $5   $2   $-   $46   $-   $53 
                                              
Total Loans                                             
Pass (1 - 4)  $173,156   $142,595   $201,861   $166,828   $92,877   $150,680   $102,551   $9,844   $1,040,392 
Special Mention (5)   398    355    -    -    133    -    25    -    911 
Substandard (6)   -    279    752    256    480    1,806    1,286    132    4,991 
Doubtful (7)   -    153    -    211    -    49    -    28    441 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total Loans  $173,554   $143,382   $202,613   $167,295   $93,490   $152,535   $103,862   $10,004   $1,046,735 
Current period gross chargeoffs  $-   $42   $25   $31   $145   $-   $46   $-   $289 

The following tables present the Company’s loan portfolio aging analysis as of March 31, 2025, and December 31, 2024.

 

($ in thousands)  30-59 Days   60-89 Days   Greater Than
90 Days		   Total Past         
March 31, 2025  Past Due   Past Due   Past Due   Due   Current   Total Loans 
                         
Commercial & industrial  $16   $
-
   $3,418   $3,434   $122,444   $125,878 
Commercial real estate - owner occupied   
-
    
-
    429    429    139,590    140,019 
Commercial real estate - nonowner occupied   
-
    
-
    366    366    369,133    369,499 
Agricultural   
-
    4    
-
    4    61,439    61,443 
Residential real estate   387    54    836    1,277    318,030    319,307 
HELOC   128    24    96    248    55,195    55,443 
Consumer   151    33    
-
    184    16,501    16,685 
Total Loans  $682   $115   $5,145   $5,942   $1,082,332   $1,088,274 

 

   30-59 Days   60-89 Days   Greater Than
90 Days		   Total Past         
December 31, 2024  Past Due   Past Due   Past Due   Due   Current   Total Loans 
                         
Commercial & industrial  $    776   $    127   $    770   $1,673   $118,343   $120,016 
Commercial real estate - owner occupied   
-
    
-
    
-
    
-
    131,313    131,313 
Commercial real estate - nonowner occupied   27    -    28    55    297,994    298,049 
Agricultural   
-
    
-
    
-
    
-
    62,365    62,365 
Residential real estate   
-
    427    294    721    313,947    314,668 
HELOC   117    100    65    282    47,780    48,062 
Consumer   1    5    
-
    6    17,073    17,079 
Total Loans  $921   $659   $1,157   $2,737   $988,815   $991,552 

 

All loans past due 90 days are systematically placed on nonaccrual status.

 

When a loan is moved to nonaccrual status, total unpaid interest accrued to date is reversed from income. Subsequent payments are applied to the outstanding principal balance with the interest portion of the payment recorded on the balance sheet as a contra-loan. Interest received on nonaccrual loans may be realized once all contractual principal amounts are received. It is at the discretion of management to determine when a loan is placed back on accrual status once a borrower establishes a history of six consecutive timely principal and interest payments. The categories of nonaccrual loans as of March 31, 2025, and December 31, 2024, are presented in the following tables.

   March 31, 2025 
($ in thousands)  Nonaccrual loans with no allowance   Nonaccrual loans with an allowance   Total
nonaccrual loans		 
             
Commercial & industrial  $3,356   $62   $3,418 
Commercial real estate - owner occupied   3    429    432 
Commercial real estate - nonowner occupied   366    
-
    366 
Agricultural   
-
    
-
    
-
 
Residential real estate   1,498    110    1,608 
Home equity line of credit (HELOC)   216    
-
    216 
Consumer   11    
-
    11 
                
Total loans  $5,450   $601   $6,051 

 

   December 31, 2024 
($ in thousands)  Nonaccrual loans with no allowance   Nonaccrual loans with an allowance   Total
nonaccrual loans		 
             
Commercial & industrial  $2,301   $626   $2,927 
Commercial real estate - owner occupied   7    430    437 
Commercial real estate - nonowner occupied   370    
-
    370 
Agricultural   
-
    
-
    
-
 
Residential real estate   1,428    111    1,539 
Home equity line of credit (HELOC)   231    
-
    231 
Consumer   12    
-
    12 
                
Total loans  $4,349   $1,167   $5,516 

 

Modifications made to Borrowers Experiencing Financial Difficulty

 

In the normal course of business, the Company may execute loan modifications with borrowers. These modifications are analyzed to determine whether the modification is considered concessionary, long term and made to a borrower experiencing financial difficulty. The Company’s modifications generally include interest rate adjustments, principal reductions, and amortization and maturity date extensions. These modifications allow the borrowers short-term cash relief to allow them to improve their financial condition. If a loan modification is determined to be made to a borrower experiencing financial difficulty, the loan is considered collateral dependent and evaluated as part of the ACL as described above in the Allowance for Credit Losses section of this note. For the three months ended March 31, 2025, and March 31, 2024, the Company did not modify any loans made to borrowers experiencing financial difficulty.

 

The Company had no commitments to lend to borrowers experiencing financial difficulty for which the Company had modified an existing loan as of March 31, 2025, and March 31, 2024. The Company monitors loan payments on an ongoing basis to determine if a loan is considered to have a payment default. Determination of payment default involves analyzing the economic conditions that exist for each customer and its ability to generate positive cash flows during the loan term. For the three months ended March 31, 2025, and March 31, 2024, the Company had no loan modifications made to borrowers experiencing financial difficulty for which there was a payment default within the 12 months following the modification date.

 

Unfunded Loan 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 the extension of credit is not unconditionally cancellable (i.e. the commitment cannot be 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 ACL for loans. The allowance for credit losses for unfunded loan commitments of $1.4 million at March 31, 2025, is classified on the balance sheet within Other liabilities.

The following table presents the balance and activity in the ACL for unfunded loan commitments for the three months ended March 31, 2025, and March 31, 2024.

 

   Three Months Ended March 31, 
($ in thousands)  2025   2024 
Balance, beginning of period  $1,340   $776 
Adjustment for acquired loans   3    
-
 
Provision for unfunded commitments   10    86 
Balance, end of period  $1,353   $862 
v3.25.1
Goodwill
 3 Months Ended
Mar. 31, 2025
Goodwill [Abstract]  
GOODWILL

NOTE 6 – GOODWILL

 

   Three Months Ended March 31, 
($ in thousands)  2025   2024 
         
Beginning balance  $23,239   $23,239 
Acquired goodwill   3,919    
-
 
Ending balance  $27,158   $23,239 

 

Goodwill is not amortized, but is evaluated for impairment annually as of December 31, or more frequently if events occur or circumstances change that indicate an impairment may exist. As of March 31, 2025, and December 31, 2024, the carrying amount of goodwill was $27.2 and $23.2 million respectively. The acquisition of Marblehead Bank on January 17, 2025 resulted in the acquisition of approximately $3.9 million in goodwill.

 

When assessing goodwill for impairment, first, a qualitative assessment can be made to determine whether it is more likely than not that the estimated fair value of a reporting unit is less than its estimated carrying value. If the results of the qualitative assessment are not conclusive, a quantitative goodwill test is performed. Alternatively, a quantitative goodwill test can be performed without performing a qualitative assessment.

 

Goodwill was assessed for impairment using a quantitative test performed as of March 31,2025. The estimated fair value of the reporting unit exceeded the net carrying value, and therefore no goodwill impairment existed as of that date. No events or circumstances since the March 31, 2025, impairment test were noted that would indicate it was more likely than not a goodwill impairment exists.
v3.25.1
Mortgage Servicing Rights
 3 Months Ended
Mar. 31, 2025
Mortgage Servicing Rights [Abstract]  
MORTGAGE SERVICING RIGHTS

NOTE 7 – MORTGAGE SERVICING RIGHTS

 

Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balance of mortgage loans serviced for others approximated $1.43 billion at March 31, 2025, and December 31, 2024. Contractually specified servicing fees of $0.9 million were included in mortgage loan servicing fees in the consolidated income statement for the three months ended March 31, 2025, and 2024.

The following table summarizes mortgage servicing rights capitalized and related amortization, along with activity in the related valuation allowance:

 

   Three Months Ended March 31, 
($ in thousands)  2025   2024 
         
Balance at beginning of period  $14,868   $13,906 
Mortgage servicing rights capitalized during the period   380    377 
Mortgage servicing rights amortization during the period   (293)   (273)
Net change in valuation allowance   10    181 
Balance at end of period  $14,965   $14,191 
           
Valuation allowance:          
Balance at beginning of period  $186   $227 
Increase (decrease)   (10)   (181)
Balance at end of period  $176   $46 
           
Fair value, beginning of period  $17,782   $17,125 
Fair value, end of period  $18,212   $18,141 
v3.25.1
Derivative Financial Instruments
 3 Months Ended
Mar. 31, 2025
Derivative Financial Instruments [Abstract]  
DERIVATIVE FINANCIAL INSTRUMENTS

NOTE 8 – DERIVATIVE FINANCIAL INSTRUMENTS

 

Risk Management Objective of Using Derivatives

 

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company manages its exposures to a wide variety of business and operational risks primarily through management of its core business activities. The Company manages economic risks, including interest rate, liquidity and credit risk, primarily by managing the amount, sources and duration of its assets and liabilities and through the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing and duration of the Company’s known or expected cash payments principally related to certain variable-rate assets.

 

Non-designated Hedges

 

The Company does not use derivatives for trading or speculative purposes. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings.

 

Additionally, the Company enters into forward contracts for the future delivery of mortgage loans to third-party investors and enters into Interest Rate Lock Commitments (“IRLCs”) with potential borrowers to fund specific mortgage loans that will be sold into the secondary market. The forward contracts that are entered into, economically hedge the effect of changes in interest rates resulting from the Company’s commitment to fund the loans. The IRLCs and forward contracts are not designated as accounting hedges and are recorded at fair value with changes in fair value reflected in noninterest income on the consolidated statements of income. The fair value of derivative instruments with a positive fair value are reported in accrued income and included in Other assets in the consolidated balance sheets, while derivative instruments with a negative fair value are reported in accrued expenses and included in Other liabilities in the consolidated balance sheets.

 

The table below presents the notional amount and fair value of the Company’s interest rate swaps, IRLCs and forward contracts utilized as of March 31, 2025, and December 31, 2024.

   March 31, 2025   December 31, 2024 
($ in thousands)  Notional   Fair   Notional   Fair 
   Amount   Value   Amount   Value 
Asset Derivatives                
Derivatives not designated as hedging instruments                
Interest rate swaps associated with loans  $86,247   $2,756   $79,235   $4,029 
Forward contracts   18,767    25    11,000    69 
Total contracts  $105,014   $2,781   $90,235   $4,098 
                     
Liability Derivatives                    
Derivatives not designated as hedging instruments                    
Interest rate swaps associated with loans  $86,247   $(2,756)  $79,235   $(4,029)
IRLCs   21,500    (3)   7,412    (21)
Total contracts  $107,747   $(2,759)  $86,647   $(4,050)

 

The fair value of interest rate swaps was estimated using a discounted cash flow method that incorporates current market interest rates as of the balance sheet date. Fair values of IRLCs and forward contracts were estimated using changes in mortgage interest rates from the date the Company entered into the IRLC or forward contract and the balance sheet date.

 

The following table presents the amounts included in the consolidated statements of income for non-hedging derivative financial instruments for the three months ended March 31, 2025, and 2024.

 

      Three Months Ended
March 31,		 
($ in thousands)  Statement of income classification  2025   2024 
Interest rate swap contracts  Other income  $107   $
-
 
IRLCs  Gain on sale of mortgage loans & OMSR   18    9 
Forward contracts  Gain on sale of mortgage loans & OMSR   (44)   8 

The following table shows the offsetting of financial assets and derivative assets at March 31, 2025, and at December 31, 2024.

 

       Gross amounts   Net amounts of assets   Gross amounts not offset in the
consolidated balance sheet		     
($ in thousands)  Gross amounts of recognized assets   offset in the consolidated balance sheet   presented in the consolidated balance sheet   Financial instruments   Cash collateral received   Net amount 
                         
March 31, 2025                        
Interest rate swaps  $               3,323   $         567   $2,756   $
                   -
   $2,710   $  46 
                               
December 31, 2024                              
Interest rate swaps  $4,172   $143   $4,029   $
-
   $3,130   $899 

 

The following table shows the offsetting of financial liabilities and derivative liabilities at March 31, 2025, and at December 31, 2024.

 

       Gross amounts   Net amounts of liabilities   Gross amounts not offset in the consolidated balance sheet     
($ in thousands)  Gross amounts of recognized liabilities   offset in the consolidated balance sheet   presented in the consolidated balance sheet   Financial instruments   Cash collateral pledged   Net amount 
                         
March 31, 2025                        
Interest rate swaps  $3,323   $567   $2,756   $
         -
   $
      -
   $2,756 
                               
December 31, 2024                              
Interest rate swaps  $4,172   $143   $4,029   $
-
   $
-
   $4,029 
v3.25.1
Deposits
 3 Months Ended
Mar. 31, 2025
Deposits [Abstract]  
DEPOSITS

NOTE 9 – DEPOSITS

 

Major classification of deposits at March 31, 2025, and at December 31, 2024, were as follows:

 

($ in thousands)  March 31,
2025		   December 31,
2024		 
Non interest bearing demand  $240,446   $232,155 
Interest bearing demand   208,583    201,085 
Savings   285,902    237,987 
Money market   257,013    222,161 
Time deposits $250,000 or less   224,421    208,273 
Time deposits greater than $250,000   54,855    50,944 
Total Deposits  $1,271,220   $1,152,605 

 

Included in time deposits at March 31, 2025, and at December 31, 2024, were $56.9 million and $58.2 million, respectively, of deposits which were obtained through the Certificate of Deposit Account Registry Service (CDARS).
v3.25.1
Short-Term Borrowings
 3 Months Ended
Mar. 31, 2025
Short-Term Borrowings [Abstract]  
SHORT-TERM BORROWINGS

NOTE 10 – SHORT-TERM BORROWINGS

 

($ in thousands)  March 31,
2025		   December 31,
2024		 
           
Securities sold under repurchase agreements  $11,058   $10,585 

 

The Company has retail repurchase (“REPO”) agreements to facilitate cash management transactions with commercial customers. These obligations are secured by agency and mortgage-backed securities and such collateral is held by the Federal Home Loan Bank (“FHLB”). These securities have various maturity dates from 2025 through 2051. As of March 31, 2025, these REPO agreements were secured by securities with a fair value totaling $13.7 million. The REPO agreements mature within one month.

 

The Company has borrowing capabilities at the Federal Reserve Discount Window (“Discount Window”) by pledging either securities or loans as collateral. As of March 31, 2025, there were no borrowings drawn or securities pledged at the Discount Window.

 

At both March 31, 2025, and December 31, 2024, the Company had $41.0 million in federal funds lines, of which none was drawn.
v3.25.1
Federal Home Loan Bank (FHLB) Advances
 3 Months Ended
Mar. 31, 2025
Federal Home Loan Bank (FHLB) Advances [Abstract]  
FEDERAL HOME LOAN BANK (FHLB) ADVANCES

NOTE 11 – FEDERAL HOME LOAN BANK (FHLB) ADVANCES

 

The Company’s FHLB advances were secured by $323.0 million in mortgage loans at March 31, 2025. Advances consisted of fixed interest rates from 3.75 to 4.61 percent. Fixed rate advances are subject to restrictions or penalties in the event of prepayment. Aggregate annual maturities of FHLB advances at March 31, 2025, were:

 

($ in thousands)  Debt 
2026  $12,500 
2027   5,000 
2028   17,500 
Total  $35,000 
v3.25.1
Trust Preferred Securities
 3 Months Ended
Mar. 31, 2025
Trust Preferred Securities [Abstract]  
TRUST PREFERRED SECURITIES

NOTE 12 – TRUST PREFERRED SECURITIES

 

On September 15, 2005, RST II, a wholly owned subsidiary of the Company, closed a pooled private offering of 10,000 Capital Securities with a liquidation amount of $1,000 per security. The proceeds of the offering were loaned to the Company in exchange for junior subordinated debentures with terms similar to the Capital Securities. Distributions on the Capital Securities are payable quarterly at a variable rate that is currently based upon the 3-month CME Term Secured Overnight Financing Rate (“SOFR”) as adjusted by the relevant spread adjustment plus 1.80 percent and are included in interest expense in the consolidated financial statements. These securities may be included in Tier 1 capital and may be prepaid at any time without penalty (with certain limitations applicable) under current regulatory guidelines and interpretations. The balance of the Capital Securities as of both March 31, 2025, and December 31, 2024, was $10.3 million, with a maturity date of September 15, 2035.
v3.25.1
Subordinated Debt
 3 Months Ended
Mar. 31, 2025
Subordinated Debt [Abstract]  
SUBORDINATED DEBT

NOTE 13 – SUBORDINATED DEBT

 

On May 27, 2021, the Company entered into Subordinated Note Purchase Agreements with qualified institutional buyers and accredited investors pursuant to which the Company issued and sold $20.0 million in aggregate principal amount of its 3.65% Fixed to Floating Rate Subordinated Notes due 2031 (the “Notes”). The Notes were sold by the Company in a private placement exempt from the registration requirements under the Securities Act of 1933, as amended.

 

The Notes mature on June 1, 2031, and bear interest at a fixed rate of 3.65% through May 31, 2026. From June 1, 2026, to the maturity date or earlier redemption of the Notes, the interest rate will reset quarterly to an interest rate per annum, equal to the then-current-three-month SOFR provided by the Federal Reserve Bank of New York plus 296 basis points. The Company may redeem the Notes at any time after May 31, 2026, and at any time in whole, but not in part, upon the occurrence of certain events. Any redemption of the Notes will be subject to prior regulatory approval. The Company incurred debt issuance costs for placement fees, legal and other out-of-pocket expenses of approximately $0.5 million, which are being amortized over the life of the Notes.
v3.25.1
Disclosures about Fair Value of Assets and Liabilities
 3 Months Ended
Mar. 31, 2025
Disclosures about Fair Value of Assets and Liabilities [Abstract]  
DISCLOSURES ABOUT FAIR VALUE OF ASSETS AND LIABILITIES

NOTE 14 – DISCLOSURES ABOUT FAIR VALUE OF ASSETS AND LIABILITIES

 

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value:

 

Level 1Quoted prices in active markets for identical assets or liabilities

 

Level 2Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities
Level 3Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities

 

The following is a description of the valuation methodologies and inputs used for assets measured at fair value on a recurring basis, recognized in the accompanying consolidated balance sheets, as well as the general classifications of such assets pursuant to the valuation hierarchy.

 

Available-for-Sale Securities

 

The fair values of available-for-sale securities are determined by various valuation methodologies. Level 2 securities include obligations of the U.S. Treasury and government agencies, mortgage-backed securities, obligations of political and state subdivisions, and other corporate securities. Level 2 inputs do not include quoted prices for individual securities in active markets; however, they do include inputs that are either directly or indirectly observable for the individual security being valued. Such observable inputs include interest rates and yield curves at commonly quoted intervals, volatilities, prepayment speeds, credit risks and default rates. Also included are inputs derived principally from or corroborated by observable market data by correlation or other means.

 

Interest Rate Contracts

 

The fair values of interest rate contracts are based upon the estimated amount the Company would receive or pay to terminate the contracts or agreements, taking into account underlying interest rates, creditworthiness of underlying customers for credit derivatives and, when appropriate, the creditworthiness of the counterparties (Level 2).

 

Forward contracts

 

The fair values of forward contracts on to-be-announced securities are determined using quoted prices in active markets or benchmarked thereto (Level 1).

 

Interest Rate Lock Commitments (IRLCs)

 

The fair value of IRLCs are determined using the projected sale price of individual loans based on changes in the market interest rates, projected “pull-through” rates (the probability that an IRLC will ultimately result in an originated loan), the reduction in the value of the applicant’s option due to the passage of time, and the remaining origination costs to be incurred based on management’s estimate of market costs (Level 3).

 

The following tables present the fair value measurements of assets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fell at March 31, 2025, and at December 31, 2024.

($ in thousands)  Fair value at
March 31,
2025		   (Level 1)   (Level 2)   (Level 3) 
                 
U.S. Treasury and Government Agencies  $6,318   $
-
   $6,318   $
-
 
Mortgage-backed securities   168,621    
-
    168,621    
-
 
State and political subdivisions   9,429    
-
    9,429    
-
 
Other corporate securities   15,353    
-
    15,353    
-
 
Interest rate contracts - assets   2,756    
-
    2,756    
-
 
Interest rate contracts - liabilities   (2,756)   
-
    (2,756)   
-
 
Forward contracts   25    25    
-
    
-
 
IRLCs   (3)   
-
    
-
    (3)

 

($ in thousands)  Fair value at
December 31,
2024		   (Level 1)   (Level 2)   (Level 3) 
                 
U.S. Treasury and Government Agencies  $7,389   $
-
   $7,389   $
-
 
Mortgage-backed securities   169,620    
-
    169,620    
-
 
State and political subdivisions   9,407    
-
    9,407    
-
 
Other corporate securities   15,171    
-
    15,171    
-
 
Interest rate contracts - assets   4,029    
-
    4,029    
-
 
Interest rate contracts - liabilities   (4,029)   
-
    (4,029)   
-
 
Forward contracts   69    69    
-
    
-
 
IRLCs   (21)   
-
    
-
    (21)

 

Level 1 - quoted prices in active markets for identical assets

 

Level 2 - significant other observable inputs

 

Level 3 - significant unobservable inputs

 

The following table reconciles the beginning and ending balances of recurring fair value measurements recognized in the accompanying consolidated balance sheets using significant unobservable (Level 3) inputs for the three months ended March 31, 2025, and 2024.

 

   for the Three Months Ended
March 31,		 
($ in thousands)  2025   2024 
Interest rate lock commitments        
Balance at beginning of period  $(21)  $45 
Total realized gains (losses)          
Change in fair value   18    9 
Balance at end of period  $(3)  $54 

 

The following is a description of the valuation methodologies and inputs used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy.

Collateral-dependent Individually evaluated Loans, Net of ACL

 

The estimated fair value of collateral-dependent individually evaluated loans is based on the appraised value of the collateral, less estimated cost to sell. Collateral-dependent individually evaluated loans are classified within Level 3 of the fair value hierarchy. This method requires obtaining an independent appraisal of the collateral, which is reviewed for accuracy and consistency by management. Appraisers are selected from an approved list which is maintained by management. The appraised values are reduced by applying a discount factor to the value based on the Company’s loan review policy. All individually evaluated loans held by the Company were collateral dependent at March 31, 2025, and at December 31, 2024.

 

Mortgage Servicing Rights

 

Mortgage servicing rights do not trade in an active, open market with readily observable prices. Accordingly, fair value is estimated using discounted cash flow models associated with the servicing rights and discounting the cash flows using discount market rates, prepayment speeds and default rates. The servicing portfolio has been valued using all relevant positive and negative cash flows including servicing fees; miscellaneous income and float; marginal costs of servicing; the cost of carry of advances; and foreclosure losses; and applying certain prevailing assumptions used in the marketplace. Due to the nature of the valuation inputs, mortgage servicing rights are classified within Level 3 of the hierarchy. These mortgage servicing rights are tested for impairment on a quarterly basis.

 

($ in thousands)  Fair value at
March 31,
2025		   (Level 1)   (Level 2)   (Level 3) 
Collateral-dependent Individually evaluated loans  $849   $
      -
   $
      -
   $849 
Mortgage servicing rights   4,242    
-
    
-
    4,242 

 

($ in thousands)   Fair value at
December 31,
2024		     (Level 1)     (Level 2)    (Level 3) 
Collateral-dependent impaired loans  $1,167   $
-
   $
-
   $1,167 
Mortgage servicing rights   1,814    
-
    
-
    1,814 

  

Level 1 - quoted prices in active markets for identical assets

 

Level 2 - significant other observable inputs

 

Level 3 - significant unobservable inputs

Unobservable (Level 3) Inputs

 

The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements.

 

   Fair value at          
($ in thousands)  March 31,
2025		   Valuation
technique		  Unobservable inputs  Range (weighted-
average)
              
Collateral-dependent individually evaluated loans  $849   Market comparable properties  Comparability adjustments (%)  1 - 28% (14)%
               
Mortgage servicing rights   4,242   Discounted cash flow  Discount rate  11.01%
           Constant prepayment rate  6.50%
           P&I earnings credit  4.22%
           T&I earnings credit  4.33%
           Inflation for cost of servicing  3.50%
               
IRLCs   (3)  Discounted cash flow  Loan closing rates  48% - 99%

 

   Fair value at          
($ in thousands)  December 31,
2024		   Valuation
technique		  Unobservable inputs  Range (weighted-
average)
              
Collateral-dependent impaired loans  $1,167   Market comparable properties  Comparability adjustments (%)  24 - 404% (84)%
               
Mortgage servicing rights   1,814   Discounted cash flow  Discount rate  11.13%
           Constant prepayment rate  7.30%
           P&I earnings credit  4.44%
           T&I earnings credit  4.49%
           Inflation for cost of servicing  3.50%
               
IRLCs   (21)  Discounted cash flow  Loan closing rates  64% - 99%

 

There were no changes in the inputs or methodologies used to determine fair value at March 31, 2025, as compared to December 31, 2024.

 

The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying consolidated balance sheets at amounts other than fair value.

 

Cash and Due From Banks, Interest Bearing Time Deposits, Federal Reserve and Federal Home Loan Bank Stock, and Accrued Interest Receivable and Payable

 

The carrying amount approximates the fair value.

 

Loans Held for Sale

 

The fair value of loans held for sale is based upon quoted market prices, where available, or is determined by discounting estimated cash flows using interest rates approximating the Company’s current origination rates for similar loans and adjusted to reflect the inherent credit risk.

 

Loans

 

The estimated fair value of loans follows the guidance in ASU 2016-01, which prescribes an “exit price” approach in estimating and disclosing fair value of financial instruments. The “exit price” is determined based on discounted estimated future cash flows using rates that incorporate discounts for credit, liquidity, and marketability factors.

Deposits, Short-Term Borrowings, and FHLB Advances

 

Deposits include demand deposits, savings accounts, and certain money market deposits. Short-term borrowings include federal funds borrowed and REPO agreements. The carrying amount of these instruments approximates the fair value. The estimated fair value for fixed-maturity time deposits and FHLB advances are based on estimates of the rate State Bank could pay on similar instruments with similar terms and maturities at March 31, 2025, and at December 31, 2024.

 

Loan Commitments

 

The fair value of loan commitments is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. The estimated fair values for other financial instruments and off-balance-sheet loan commitments approximate cost at March 31, 2025, and at December 31, 2024, and are not considered significant to this presentation.

 

Trust Preferred Securities

 

The fair value for Trust Preferred Securities is estimated by discounting the cash flows using an appropriate discount rate.

 

Subordinated Debt

 

The fair value for subordinated debt is estimated by discounting the cash flows using a discount rate equal to the rate currently offered on similar borrowings.

 

The following table presents estimated fair values of the Company’s other financial instruments carried at other than fair value. The fair values of certain of these instruments were calculated by discounting expected cash flows, which involves significant judgments by management and uncertainties. Fair value is the estimated amount at which financial assets or liabilities could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Because no market exists for certain of these financial instruments, and because management does not intend to sell these financial instruments, the Company does not know whether the fair values shown below represent values at which the respective financial instruments could be sold individually or in the aggregate.

($ in thousands)  Carrying   Fair   Fair value measurements using 
March 31, 2025  amount   value   (Level 1)   (Level 2)   (Level 3) 
Financial assets                    
Cash and due from banks  $105,145   $105,145   $105,145   $
-
   $
-
 
Interest bearing time deposits   1,565    1,565    
-
    1,565    
-
 
Loans held for sale   4,286    4,372    
-
    4,372    
-
 
Loans, net of allowance for credit losses   1,072,883    1,068,405    
-
    
-
    1,068,405 
Federal Reserve and FHLB Bank stock, at cost   5,340    5,340    
-
    5,340    
-
 
Interest receivable   5,072    5,072    
-
    5,072    
-
 
                          
Financial liabilities                         
Deposits  $1,271,220   $1,271,345   $991,944   $279,401   $
-
 
Short-term borrowings   11,058    11,058    
-
    11,058    
-
 
FHLB advances   35,000    35,047    
-
    35,047    
-
 
Trust preferred securities   10,310    9,302    
-
    9,302    
-
 
Subordinated debt, net of issuance costs   19,702    18,863    
-
    18,863    
-
 
Interest payable   2,634    2,634    
-
    2,634    
-
 

 

($ in thousands)  Carrying   Fair   Fair value measurements using 
December 31, 2024  amount   value   (Level 1)   (Level 2)   (Level 3) 
Financial assets                    
Cash and due from banks  $25,928   $25,928   $25,928   $
-
   $
-
 
Interest bearing time deposits   1,565    1,565    
-
    1,565    
-
 
Loans held for sale   6,770    6,861    
-
    6,861    
-
 
Loans, net of allowance for credit losses   1,031,639    1,033,064    
-
    
-
    1,033,064 
Federal Reserve and FHLB Bank stock, at cost   5,223    5,223    
-
    5,223    
-
 
Interest receivable   4,908    4,908    
-
    4,908    
-
 
                          
Financial liabilities                         
Deposits  $1,152,605   $1,155,747   $893,388   $262,359   $
-
 
Short-term borrowings   10,585    10,585    
-
    10,585    
-
 
FHLB advances   35,000    34,782    
-
    34,782    
-
 
Trust preferred securities   10,310    9,495    
-
    9,495    
-
 
Subordinated debt, net of issuance costs   19,690    19,155    
-
    19,155    
-
 
Interest payable   2,351    2,351    
-
    2,351    
-
 
v3.25.1
Share Based Compensation
 3 Months Ended
Mar. 31, 2025
Share Based Compensation [Abstract]  
SHARE BASED COMPENSATION

NOTE 15 – SHARE BASED COMPENSATION

 

In April 2017, the Company’s shareholders approved a new share-based incentive compensation plan, the SB Financial Group, Inc. 2017 Stock Incentive Plan (the “2017 Plan”), which replaced the Company’s 2008 Stock Incentive Plan. The 2017 Plan permits the Company to grant or award incentive stock options, nonqualified stock options, stock appreciation rights (“SARs”), restricted stock, and restricted stock units to employees and non-employee directors and advisory board members of the Company and its subsidiaries. A total of 500,000 common shares of the Company are available for grants or awards under the 2017 Plan, of which 205,743 shares had been granted under the plan as of March 31, 2025.

 

The 2017 Plan is intended to advance the interests of the Company and its shareholders by offering employees, directors and advisory board members of the Company and its subsidiaries an opportunity to acquire or increase their ownership interest in the Company through grants of equity-based awards. The 2017 Plan permits equity-based awards to be used to attract, motivate, reward and retain highly competent individuals upon whose judgment, initiative, leadership and efforts are key to the success of the Company by encouraging those individuals to become shareholders of the Company.

 

Stock option awards are granted with an exercise price equal to the market price of the Company’s stock at the date of grant and those option awards vest based on five years of continuous service and have 10-year contractual terms. The fair value of each option award is estimated on the date of grant using the Black-Scholes valuation model. As of March 31, 2025, there were no stock options outstanding, and no unrecognized compensation cost related to stock option awards. No stock options were granted in the first three months of 2025.

On February 5, 2013, the Company adopted a Long Term Incentive Plan (the “LTI Plan”), which provides for awards of restricted stock in the Company to certain key executives. These restricted stock awards vest over a four-year period and are intended to assist the Company in retention of key executives. The compensation cost charged against income for awards under the LTI Plan for the three months ended March 31, 2025 and March 31, 2024 was $0.2 million and $0.2 million, respectively.

 

As of March 31, 2025, there was $0.8 million of total unrecognized compensation cost related to non-vested share-based compensation arrangements related to the restricted stock awards under the 2017 Plan which were granted in accordance with the LTI Plan. That cost is expected to be recognized over a weighted-average period of 1.9 years.

 

The table below is a summary of restricted stock activity under the Company’s 2017 Plan for the three months ended March 31, 2025.

 

   Shares   Weighted-
Average Value
per Share		 
Nonvested, January 1, 2025   54,311   $17.15 
Granted   21,003    23.43 
Vested   (23,234)   17.67 
Forfeited   (4,716)   17.65 
Nonvested, March 31, 2025   47,364   $19.63 
v3.25.1
Operating Segments
 3 Months Ended
Mar. 31, 2025
Operating Segments [Abstract]  
OPERATING SEGMENTS

NOTE 16 – OPERATING SEGMENTS

 

The Company provides a range of community banking services, including commercial and consumer lending, personal and business banking, treasury management and merchant services, personal wealth management and brokerage services, and other financial services primarily to individuals, businesses, and municipalities. All of the Company’s business activities are dependent and assessed based on the manner in which it supports the other activities of the Company.

 

The chief operating decision maker (“CODM”) of the Company is the Chief Executive Officer, who along with others in the Company’s executive management, evaluates performance and allocates resources based upon analysis of the Company as one operating segment. The activities of the Company comprise one reportable segment, “Banking.” All the consolidated assets are attributable to the Banking segment. The accounting policies of the Banking segment are the same as those described in Note 1 “Basis of Presentation.”

 

The CODM is provided with the Company’s consolidated statements of financial condition and operations and evaluates the Company’s operating results based on consolidated net interest income, non-interest income, non-interest expense, and net income, which can be seen on the consolidated statement of operations. These results are used to benchmark the Company against its competitors. Other significant non-cash items assessed by the CODM are depreciation, amortization and provision for credit losses consistent with the reporting on the consolidated statements of cash flows. Expenditures for long-lived assets are also evaluated and are consistent with the reporting on the consolidated statements of cashflows. Strategic plans and budget to actual monitoring are evaluated as one reportable segment. The actual results are used in assessing performance of the segment, determining the allocation of resources, and in establishing management’s compensation. Information reported internally for performance assessment by the chief operating decision maker is identical to that which is shown in the Consolidated Statements of Income. All revenues were derived from banking operations for the three months ended March 31, 2025, and March 31, 2024, and there was no customer that accounted for more than 10% of the Company’s consolidated revenue.
v3.25.1
General Litigation
 3 Months Ended
Mar. 31, 2025
General Litigation [Abstract]  
GENERAL LITIGATION

NOTE 17 – GENERAL LITIGATION

 

The Company is subject to claims and lawsuits that arise primarily in the ordinary course of business. Additionally, the Company is subject to periodic examinations by various regulatory agencies. It is the opinion of management that the disposition or ultimate resolution of any such claims, lawsuits and examinations pending at March 31, 2025, will not have a material adverse effect on the consolidated financial position, results of operations and cash flow of the Company.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Pay vs Performance Disclosure    
Net Income (Loss) $ 2,158 $ 2,368
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.1
Accounting Policies, by Policy (Policies)
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Adoption of New Accounting Standards

Adoption of New Accounting Standards:

Accounting Standards Update (“ASU”) No. 2020-04: Reference Rate Reform – Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Topic 848)

This guidance provides temporary options to ease the potential burden in accounting for reference rate reform. It is intended to help stakeholders during the global market-wide reference rate transition period. The guidance was initially effective as of March 12, 2020, through December 31, 2022. However, a deferral of the implementation of the Reference Rate Reform was issued in December of 2022, which extended the implementation through December 31, 2024. The Company has implemented a replacement for the reference rate and has determined that the changes did not have a material impact on the Company’s consolidated financial statements.

ASU No. 2023-07: Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures

This ASU expands operating segment disclosures and requires all segment disclosures to be reported in both annual and interim periods. The new standard requires disclosure of the following: significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) for reportable segments; the title and position of the CODM as well as how the CODM uses the reported measure(s) of profit and loss to assess segment performance; and “other segment items” by reportable segment and a description of its composition. The Company adopted the standard on January 1, 2024, and its adoption did not have a material effect on our financial statements.
Accounting Standards not yet adopted

Accounting Standards not yet adopted:

ASU No. 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures

In December 2023, the Financial Accounting Standards Bord (“FASB”) issued ASU 2023-09: Income Taxes (Topic 740) Improvements to Income Tax Disclosures. The amendments in this ASU address investor requests for more transparency about income tax information through improvements to income tax disclosures, primarily related to effective tax rate reconciliation and information related to income taxes paid, among certain other amendments to improve the effectiveness of such disclosures. The amendments in this ASU are effective for annual periods beginning after December 15, 2024, and are to be applied on a prospective basis. Adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements.
v3.25.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share Participating securities in the table reflect nonvested restricted shares that participate in dividends declared and paid by the Company on its common shares prior to vesting of the restricted shares.
   Three Months Ended March 31, 
($ and outstanding shares in thousands - except per share data)  2025   2024 
         
Distributed earnings allocated to common shares  $947   $917 
Undistributed earnings allocated to common shares   1,204    1,443 
           
Net earnings allocated to common shares   2,151    2,360 
Net earnings allocated to participating securities   7    8 
           
Net Income allocated to common shares and participating securities  $2,158   $2,368 
           
Weighted average shares outstanding for basic earnings per share   6,481    6,715 
Dilutive effect of stock compensation   21    8 
           
Weighted average shares outstanding for diluted earnings per share   6,502    6,723 
           
Basic earnings per common share  $0.33   $0.35 
           
Diluted earnings per common share  $0.33   $0.35 
v3.25.1
Business Combination (Tables)
 3 Months Ended
Mar. 31, 2025
Business Combination [Abstract]  
Schedule of Assets Changes to Valuation Determinable at Acquisition Date Potential adjustments, if any, will be related to assets that have may have changes to valuation amounts that were not readily determinable at acquisition date.
($ in thousands)  January 17,
2025		 
     
Fair value of assets acquired    
     
Cash and cash equivalents  $1,995 
Investment securities   30,123 
Federal Reserve and Federal Home Loan Bank stock   117 
Loans held for investment   18,661 
Premises and equipment   1,036 
Goodwill   3,919 
Core deposit intangible   1,710 
Other assets   1,600 
Total assets acquired  $59,161 
      
Fair value of liabilities assumed     
      
Deposits  $53,088 
Other liabilities   1,064 
Total liabilities assumed   54,152 
Total purchase price (cash)  $5,009 
Schedule of Acquisition Added Less Revenue The acquisition added less than $0.3 million in revenue to the Company for the three months ended March 31, 2025.
   Three Months Ended 
Summary of Operations ($ in thousands)  Mar. 2025   Mar. 2024 
         
Net interest income  $11,339   $9,529 
Provision for loan losses   387    
-
 
           
Net interest income after provision  $10,952   $9,529 
           
Non interest income   4,111    3,971 
Non interest expense   12,669    10,728 
           
Income before income taxes  $2,394   $2,772 
Income tax expense*   431    481 
           
Net income to common shareholders  $1,963   $2,291 
           
Basic earnings per share  $0.30   $0.34 
Diluted earnngs per share  $0.30   $0.34 

 

*Income tax expense for Marblehead calculated using a 21% statuatory rate
v3.25.1
Available-for-Sale Securities (Tables)
 3 Months Ended
Mar. 31, 2025
Available-for-Sale Securities [Abstract]  
Schedule of Amortized Cost and Fair Values with Gross Unrealized Gains and Losses

The amortized cost and appropriate fair values, together with gross unrealized gains and losses, of securities at March 31, 2025, and December 31, 2024, were as follows:

 

       Gross   Gross     
($ in thousands)  Amortized   Unrealized   Unrealized     
   Cost   Gains   Losses   Fair Value 
March 31, 2025                
U.S. Treasury and Government agencies  $6,918   $2   $(602)  $6,318 
Mortgage-backed securities   198,737    4    (30,120)   168,621 
State and political subdivisions   10,879    
         -
    (1,450)   9,429 
Other corporate securities   17,200    
-
    (1,847)   15,353 
                     
Totals  $233,734   $6   $(34,019)  $199,721 

 

       Gross   Gross     
   Amortized   Unrealized   Unrealized     
   Cost   Gains   Losses   Fair Value 
December 31, 2024                
U.S. Treasury and Government agencies  $8,120   $
         -
   $(731)  $7,389 
Mortgage-backed securities   203,646    4    (34,030)   169,620 
State and political subdivisions   10,893    
-
    (1,486)   9,407 
Other corporate securities   17,200    
-
    (2,029)   15,171 
                     
Totals  $239,859   $4   $(38,276)  $201,587 
Schedule of Amortized Cost and Fair Value of Securities Available-For-Sale

The amortized cost and fair value of securities available-for-sale at March 31, 2025, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

   Amortized   Fair 
($ in thousands)  Cost   Value 
         
Within one year  $1,039   $1,039 
Due after one year through five years   1,132    1,117 
Due after five years through ten years   25,913    23,274 
Due after ten years   6,913    5,670 
    34,997    31,100 
Mortgage-backed securities   198,737    168,621 
           
Totals  $233,734   $199,721 
Schedule of Securities with Unrealized Losses

Securities with unrealized losses, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2025, and December 31, 2024, are as follows:

 

($ in thousands)      Less than 12 Months   12 Months or Longer   Total 
March 31, 2025  Number of
Securities		   Fair Value   Unrealized
Losses		   Fair Value   Unrealized
Losses		   Fair Value   Unrealized
Losses		 
                             
U.S. Treasury and Government agencies   8   $789   $
        -
   $5,177   $(602)  $5,966   $(602)
Mortgage-backed securities   91    
-
    
-
    168,346    (30,120)   168,346    (30,120)
State and political subdivisions   21    701    (12)   8,729    (1,438)   9,430    (1,450)
Other corporate securities   14    
-
    
-
    15,353    (1,847)   15,353    (1,847)
                                    
Totals   134   $1,490   $(12)  $197,605   $(34,007)  $199,095   $(34,019)

 

       Less than 12 Months   12 Months or Longer   Total 
December 31, 2024  Number of
Securities		   Fair Value   Unrealized
Losses		   Fair Value   Unrealized
Losses		   Fair Value   Unrealized
Losses		 
                             
U.S. Treasury and Government agencies   11   $1,929   $
        -
   $5,460   $(731)  $7,389   $(731)
Mortgage-backed securities   92    
-
   $
-
    169,286    (34,030)   169,286    (34,030)
State and political subdivisions   21    1,319   $(21)   8,088    (1,465)   9,407    (1,486)
Other corporate securities   14    385   $(115)   14,786    (1,914)   15,171    (2,029)
                                    
Totals   138   $3,633   $(136)  $197,620   $(38,140)  $201,253   $(38,276)
v3.25.1
Loans and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2025
Loans and Allowance for Credit Losses [Abstract]  
Schedule of Composition of the Loan Portfolio

The following table summarizes the composition of the loan portfolio:

 

   Total Loans 
($ in thousands)  March 31,
2025		   December 31,
2024		 
         
Commercial & industrial  $125,878   $124,764 
Commercial real estate - owner occupied   140,019    134,431 
Commercial real estate - nonowner occupied   369,499    345,142 
Agricultural   61,443    64,680 
Residential real estate   319,307    308,378 
Home equity line of credit (HELOC)   55,443    53,811 
Consumer   16,685    15,529 
           
Total loans   1,088,274    1,046,735 
Allowance for credit losses   (15,391)   (15,096)
           
Loans, net  $1,072,883   $1,031,639 
Schedule of Activity Related to the Allowance for Credit Losses (ACL) The following tables summarize the activity related to the ACL for the three months ended March 31, 2025, and March 31, 2024, and for the twelve months ended December 31, 2024.
($ in thousands)
For the three months ended
March 31, 2025		  Balance, beginning of period   Chargeoffs   Recoveries   Provision for Credit Losses   Balance, end of period 
                     
Commercial & industrial  $2,666   $       (61)  $
            -
   $       (166)  $2,439 
Commercial real estate - owner occupied   1,806    
-
    
-
    58    1,864 
Commercial real estate - nonowner occupied   5,721    
-
    
-
    333    6,054 
Agricultural   884    
-
    
-
    (22)   862 
Residential real estate   3,330    
-
    
-
    128    3,458 
HELOC   520    (4)   
-
    23    539 
Consumer   169    (21)   2    25    175 
Total  $15,096   $(86)  $2   $379   $15,391 

 

($ in thousands)
For the three months ended
March 31, 2024		  Balance, beginning of period   Chargeoffs   Recoveries   Provision for Credit Losses   Balance, end of period 
                     
Commercial & industrial  $2,003   $     (42)  $          6   $      626   $2,593 
Commercial real estate - owner occupied   1,952    
-
    
-
    57    2,009 
Commercial real estate - nonowner occupied   5,718    
-
    
-
    (240)   5,478 
Agricultural   440    
-
    
-
    528    968 
Residential real estate   4,936    
-
    
-
    (1,075)   3,861 
HELOC   510    
-
    
-
    14    524 
Consumer   227    (24)   3    4    210 
Total  $15,786   $(66)  $9   $(86)  $15,643 

 

($ in thousands)
For the twelve months ended
December 31, 2024		  Balance, beginning of period   Chargeoffs   Recoveries   Provision for Credit Losses   Balance, end of period 
                     
Commercial & industrial  $2,003   $     (233)  $             5   $       891   $2,666 
Commercial real estate - owner occupied   1,952    
-
    
-
    (146)   1,806 
Commercial real estate - nonowner occupied   5,718    
-
    
-
    3    5,721 
Agricultural   440    
-
    
-
    444    884 
Residential real estate   4,936    (3)   
-
    (1,603)   3,330 
HELOC   510    
-
    
-
    10    520 
Consumer   227    (53)   34    (39)   169 
Total  $15,786   $(289)  $39   $(440)  $15,096 
Schedule of Presents an Analysis of Collateral-Dependent Loans

The following table presents an analysis of collateral-dependent loans of the Company as of March 31, 2025, and December 31, 2024.

 

($ in thousands)  Collateral Type   Allocated 
March 31, 2025  Real Estate   Other   Total   Allowance 
                 
Commercial & industrial  $2,518   $       1,244   $3,762   $               65 
Commercial real estate - owner occupied   429    
-
    429    13 
Commercial real estate - nonowner occupied   151    
-
    151    
-
 
Agricultural   
-
    
-
    
-
    
-
 
Residential real estate   1,099    
-
    1,099    24 
HELOC   
-
    
-
    
-
    
-
 
Consumer   
-
    
-
    
-
    
-
 
Total  $4,197   $1,244   $5,441   $102 

 

($ in thousands)  Collateral Type   Allocated 
December 31, 2024  Real Estate   Other   Total   Allowance 
                 
Commercial & industrial  $2,252   $        625   $2,877   $             380 
Commercial real estate - owner occupied   429    
-
    429    13 
Commercial real estate - nonowner occupied   370    
-
    370    
-
 
Agricultural   
-
    
-
    
-
    
-
 
Residential real estate   801    
-
    801    26 
HELOC   
-
    
-
    
-
    
-
 
Consumer   
-
    
-
    
-
    
-
 
Total  $3,852   $625   $4,477   $419 
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs The following table presents loan balances by credit quality indicators and gross chargeoffs by loan category and year of origination as of March 31, 2025.
($ in thousands)  Term Loans by Year of Origination   Revolving    Revolving Loans Converted     
March 31, 2025  2025   2024   2023   2022   2021   Prior   Loans   to Term   Total 
                                     
Commercial & industrial                                    
Pass (1 - 4)  $5,496   $23,228   $11,182   $12,283   $13,800   $18,175   $34,712   $3,015   $121,891 
Special Mention (5)   -    36    -    -    238    129    25    -    428 
Substandard (6)   -    120    350    152    -    177    1,247    213    2,259 
Doubtful (7)   -    -    153    433    204    481    -    29    1,300 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $5,496   $23,384   $11,685   $12,868   $14,242   $18,962   $35,984   $3,257   $125,878 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $33   $28   $-   $61 
                                              
Commercial real estate - owner occupied                                             
Pass (1 - 4)  $6,650   $21,014   $25,413   $19,745   $23,921   $41,638   $1,158   $46   $139,585 
Special Mention (5)   -    -    -    -    -    430    -    -    430 
Substandard (6)   -    -    -    -    -    -    -    -    - 
Doubtful (7)   -    -    -    -    3    1    -    -    4 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $6,650   $21,014   $25,413   $19,745   $23,924   $42,069   $1,158   $46   $140,019 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Commercial real estate - nonowner occupied                                             
Pass (1 - 4)  $27,498   $97,732   $45,886   $50,648   $38,345   $108,593   $130   $-   $368,832 
Special Mention (5)   -    397    -    -    -    -    -    -    397 
Substandard (6)   -    -    -    151    -    119    -    -    270 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $27,498   $98,129   $45,886   $50,799   $38,345   $108,712   $130   $-   $369,499 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Agricultural                                             
Pass (1 - 4)  $3,017   $6,867   $7,866   $13,657   $10,599   $10,412   $9,025   $-   $61,443 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    -    -    -    -    -    -    - 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $3,017   $6,867   $7,866   $13,657   $10,599   $10,412   $9,025   $-   $61,443 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Residential real estate                                             
Pass (1 - 4)  $3,852   $32,776   $43,065   $101,738   $76,528   $59,728   $-   $-   $317,687 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    275    -    251    1,094    -    -    1,620 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $3,852   $32,776   $43,340   $101,738   $76,779   $60,822   $-   $-   $319,307 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Home equity line of credit (HELOC)                                             
Pass (1 - 4)  $-   $-   $-   $-   $11   $101   $48,525   $6,589   $55,226 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    -    -    -    44    136    37    217 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $-   $-   $-   $-   $11   $145   $48,661   $6,626   $55,443 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $4   $-   $-   $4 
                                              
Consumer                                             
Pass (1 - 4)  $525   $1,735   $2,089   $3,356   $1,045   $1,231   $6,700   $-   $16,681 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    -    4    -    -    -    -    4 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $525   $1,735   $2,089   $3,360   $1,045   $1,231   $6,700   $-   $16,685 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $21   $-   $21 
                                              
Total Loans                                             
Pass (1 - 4)  $47,038   $183,352   $135,501   $201,427   $164,249   $239,878   $100,250   $9,650   $1,081,345 
Special Mention (5)   -    433    -    -    238    559    25    -    1,255 
Substandard (6)   -    120    625    307    251    1,434    1,383    250    4,370 
Doubtful (7)   -    -    153    433    207    482    -    29    1,304 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total Loans  $47,038   $183,905   $136,279   $202,167   $164,945   $242,353   $101,658   $9,929   $1,088,274 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $37   $49   $-   $86 

The following table presents loan balances by credit quality indicators and gross chargeoffs by loan category and year of origination as of December 31, 2024.

 

($ in thousands)  Term Loans by Year of Origination   Revolving    Revolving Loans Converted     
December 31, 2024  2024   2023   2022   2021   2020   Prior   Loans   to Term   Total 
                                     
Commercial & industrial                                    
Pass (1 - 4)  $22,688   $12,927   $12,813   $14,207   $9,101   $10,022   $36,363   $3,204   $121,325 
Special Mention (5)   -    355    -    -    133    -    25    -    513 
Substandard (6)   -    -    585    -    -    673    1,147    88    2,493 
Doubtful (7)   -    153    -    204    -    48    -    28    433 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $22,688   $13,435   $13,398   $14,411   $9,234   $10,743   $37,535   $3,320   $124,764 
Current period gross chargeoffs  $-   $42   $25   $23   $143   $-   $-   $-   $233 
                                              
Commercial real estate - owner occupied                                             
Pass (1 - 4)  $15,070   $30,372   $20,002   $24,406   $13,491   $30,140   $463   $49   $133,993 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    -    -    430    -    -    -    430 
Doubtful (7)   -    -    -    7    -    1    -    -    8 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $15,070   $30,372   $20,002   $24,413   $13,921   $30,141   $463   $49   $134,431 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Commercial real estate - nonowner occupied                                             
Pass (1 - 4)  $94,098   $47,026   $50,942   $40,584   $39,093   $72,609   $118   $-   $344,470 
Special Mention (5)   398    -    -    -    -    -    -    -    398 
Substandard (6)   -    -    154    -    -    120    -    -    274 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $94,496   $47,026   $51,096   $40,584   $39,093   $72,729   $118   $-   $345,142 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Agricultural                                             
Pass (1 - 4)  $8,100   $8,295   $14,482   $10,748   $2,618   $8,967   $11,470   $-   $64,680 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    -    -    -    -    -    -    - 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $8,100   $8,295   $14,482   $10,748   $2,618   $8,967   $11,470   $-   $64,680 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Residential real estate                                             
Pass (1 - 4)  $31,291   $41,982   $100,375   $76,146   $28,237   $28,797   $-   $-   $306,828 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    279    -    256    50    965    -    -    1,550 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $31,291   $42,261   $100,375   $76,402   $28,287   $29,762   $-   $-   $308,378 
Current period gross chargeoffs  $-   $-   $-   $3   $-   $-   $-   $-   $3 
                                              
Home equity line of credit (HELOC)                                             
Pass (1 - 4)  $-   $-   $-   $12   $18   $51   $46,908   $6,591   $53,580 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    -    -    -    48    139    44    231 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $-   $-   $-   $12   $18   $99   $47,047   $6,635   $53,811 
Current period gross chargeoffs  $-   $-   $-   $-   $-   $-   $-   $-   $- 
                                              
Consumer                                             
Pass (1 - 4)  $1,909   $1,993   $3,247   $725   $319   $94   $7,229   $-   $15,516 
Special Mention (5)   -    -    -    -    -    -    -    -    - 
Substandard (6)   -    -    13    -    -    -    -    -    13 
Doubtful (7)   -    -    -    -    -    -    -    -    - 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total  $1,909   $1,993   $3,260   $725   $319   $94   $7,229   $-   $15,529 
Current period gross chargeoffs  $-   $-   $-   $5   $2   $-   $46   $-   $53 
                                              
Total Loans                                             
Pass (1 - 4)  $173,156   $142,595   $201,861   $166,828   $92,877   $150,680   $102,551   $9,844   $1,040,392 
Special Mention (5)   398    355    -    -    133    -    25    -    911 
Substandard (6)   -    279    752    256    480    1,806    1,286    132    4,991 
Doubtful (7)   -    153    -    211    -    49    -    28    441 
Loss (8)   -    -    -    -    -    -    -    -    - 
Total Loans  $173,554   $143,382   $202,613   $167,295   $93,490   $152,535   $103,862   $10,004   $1,046,735 
Current period gross chargeoffs  $-   $42   $25   $31   $145   $-   $46   $-   $289 
Schedule of Company’s Loan Portfolio Aging Analysis

The following tables present the Company’s loan portfolio aging analysis as of March 31, 2025, and December 31, 2024.

 

($ in thousands)  30-59 Days   60-89 Days   Greater Than
90 Days		   Total Past         
March 31, 2025  Past Due   Past Due   Past Due   Due   Current   Total Loans 
                         
Commercial & industrial  $16   $
-
   $3,418   $3,434   $122,444   $125,878 
Commercial real estate - owner occupied   
-
    
-
    429    429    139,590    140,019 
Commercial real estate - nonowner occupied   
-
    
-
    366    366    369,133    369,499 
Agricultural   
-
    4    
-
    4    61,439    61,443 
Residential real estate   387    54    836    1,277    318,030    319,307 
HELOC   128    24    96    248    55,195    55,443 
Consumer   151    33    
-
    184    16,501    16,685 
Total Loans  $682   $115   $5,145   $5,942   $1,082,332   $1,088,274 

 

   30-59 Days   60-89 Days   Greater Than
90 Days		   Total Past         
December 31, 2024  Past Due   Past Due   Past Due   Due   Current   Total Loans 
                         
Commercial & industrial  $    776   $    127   $    770   $1,673   $118,343   $120,016 
Commercial real estate - owner occupied   
-
    
-
    
-
    
-
    131,313    131,313 
Commercial real estate - nonowner occupied   27    -    28    55    297,994    298,049 
Agricultural   
-
    
-
    
-
    
-
    62,365    62,365 
Residential real estate   
-
    427    294    721    313,947    314,668 
HELOC   117    100    65    282    47,780    48,062 
Consumer   1    5    
-
    6    17,073    17,079 
Total Loans  $921   $659   $1,157   $2,737   $988,815   $991,552 
Schedule of Categories of Nonaccrual Loans The categories of nonaccrual loans as of March 31, 2025, and December 31, 2024, are presented in the following tables.
   March 31, 2025 
($ in thousands)  Nonaccrual loans with no allowance   Nonaccrual loans with an allowance   Total
nonaccrual loans		 
             
Commercial & industrial  $3,356   $62   $3,418 
Commercial real estate - owner occupied   3    429    432 
Commercial real estate - nonowner occupied   366    
-
    366 
Agricultural   
-
    
-
    
-
 
Residential real estate   1,498    110    1,608 
Home equity line of credit (HELOC)   216    
-
    216 
Consumer   11    
-
    11 
                
Total loans  $5,450   $601   $6,051 

 

   December 31, 2024 
($ in thousands)  Nonaccrual loans with no allowance   Nonaccrual loans with an allowance   Total
nonaccrual loans		 
             
Commercial & industrial  $2,301   $626   $2,927 
Commercial real estate - owner occupied   7    430    437 
Commercial real estate - nonowner occupied   370    
-
    370 
Agricultural   
-
    
-
    
-
 
Residential real estate   1,428    111    1,539 
Home equity line of credit (HELOC)   231    
-
    231 
Consumer   12    
-
    12 
                
Total loans  $4,349   $1,167   $5,516 
Schedule of Activity in the ACL for Unfunded Loan Commitments

The following table presents the balance and activity in the ACL for unfunded loan commitments for the three months ended March 31, 2025, and March 31, 2024.

 

   Three Months Ended March 31, 
($ in thousands)  2025   2024 
Balance, beginning of period  $1,340   $776 
Adjustment for acquired loans   3    
-
 
Provision for unfunded commitments   10    86 
Balance, end of period  $1,353   $862 
v3.25.1
Goodwill (Tables)
 3 Months Ended
Mar. 31, 2025
Goodwill [Abstract]  
Schedule of Goodwill
   Three Months Ended March 31, 
($ in thousands)  2025   2024 
         
Beginning balance  $23,239   $23,239 
Acquired goodwill   3,919    
-
 
Ending balance  $27,158   $23,239 
v3.25.1
Mortgage Servicing Rights (Tables)
 3 Months Ended
Mar. 31, 2025
Mortgage Servicing Rights [Abstract]  
Schedule of Mortgage Servicing Rights Capitalized and Related Amortization

The following table summarizes mortgage servicing rights capitalized and related amortization, along with activity in the related valuation allowance:

 

   Three Months Ended March 31, 
($ in thousands)  2025   2024 
         
Balance at beginning of period  $14,868   $13,906 
Mortgage servicing rights capitalized during the period   380    377 
Mortgage servicing rights amortization during the period   (293)   (273)
Net change in valuation allowance   10    181 
Balance at end of period  $14,965   $14,191 
           
Valuation allowance:          
Balance at beginning of period  $186   $227 
Increase (decrease)   (10)   (181)
Balance at end of period  $176   $46 
           
Fair value, beginning of period  $17,782   $17,125 
Fair value, end of period  $18,212   $18,141 
v3.25.1
Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Financial Instruments [Abstract]  
Schedule of Notional Amount and Fair Value of the Company’s Interest Rate Swaps

The table below presents the notional amount and fair value of the Company’s interest rate swaps, IRLCs and forward contracts utilized as of March 31, 2025, and December 31, 2024.

   March 31, 2025   December 31, 2024 
($ in thousands)  Notional   Fair   Notional   Fair 
   Amount   Value   Amount   Value 
Asset Derivatives                
Derivatives not designated as hedging instruments                
Interest rate swaps associated with loans  $86,247   $2,756   $79,235   $4,029 
Forward contracts   18,767    25    11,000    69 
Total contracts  $105,014   $2,781   $90,235   $4,098 
                     
Liability Derivatives                    
Derivatives not designated as hedging instruments                    
Interest rate swaps associated with loans  $86,247   $(2,756)  $79,235   $(4,029)
IRLCs   21,500    (3)   7,412    (21)
Total contracts  $107,747   $(2,759)  $86,647   $(4,050)
Schedule of Consolidated Statements of Income for Non-Hedging Derivative Financial Instruments

The following table presents the amounts included in the consolidated statements of income for non-hedging derivative financial instruments for the three months ended March 31, 2025, and 2024.

 

      Three Months Ended
March 31,		 
($ in thousands)  Statement of income classification  2025   2024 
Interest rate swap contracts  Other income  $107   $
-
 
IRLCs  Gain on sale of mortgage loans & OMSR   18    9 
Forward contracts  Gain on sale of mortgage loans & OMSR   (44)   8 
Schedule of Table Shows the Offsetting of Financial Assets and Derivative Assets

The following table shows the offsetting of financial assets and derivative assets at March 31, 2025, and at December 31, 2024.

 

       Gross amounts   Net amounts of assets   Gross amounts not offset in the
consolidated balance sheet		     
($ in thousands)  Gross amounts of recognized assets   offset in the consolidated balance sheet   presented in the consolidated balance sheet   Financial instruments   Cash collateral received   Net amount 
                         
March 31, 2025                        
Interest rate swaps  $               3,323   $         567   $2,756   $
                   -
   $2,710   $  46 
                               
December 31, 2024                              
Interest rate swaps  $4,172   $143   $4,029   $
-
   $3,130   $899 
Schedule of Table Shows the Offsetting of Financial Liabilities and Derivative Liabilities

The following table shows the offsetting of financial liabilities and derivative liabilities at March 31, 2025, and at December 31, 2024.

 

       Gross amounts   Net amounts of liabilities   Gross amounts not offset in the consolidated balance sheet     
($ in thousands)  Gross amounts of recognized liabilities   offset in the consolidated balance sheet   presented in the consolidated balance sheet   Financial instruments   Cash collateral pledged   Net amount 
                         
March 31, 2025                        
Interest rate swaps  $3,323   $567   $2,756   $
         -
   $
      -
   $2,756 
                               
December 31, 2024                              
Interest rate swaps  $4,172   $143   $4,029   $
-
   $
-
   $4,029 
v3.25.1
Deposits (Tables)
 3 Months Ended
Mar. 31, 2025
Deposits [Abstract]  
Schedule of Major Classification of Deposits

Major classification of deposits at March 31, 2025, and at December 31, 2024, were as follows:

 

($ in thousands)  March 31,
2025		   December 31,
2024		 
Non interest bearing demand  $240,446   $232,155 
Interest bearing demand   208,583    201,085 
Savings   285,902    237,987 
Money market   257,013    222,161 
Time deposits $250,000 or less   224,421    208,273 
Time deposits greater than $250,000   54,855    50,944 
Total Deposits  $1,271,220   $1,152,605 
v3.25.1
Short-Term Borrowings (Tables)
 3 Months Ended
Mar. 31, 2025
Short-Term Borrowings [Abstract]  
Schedule of Short-Term Borrowings
($ in thousands)  March 31,
2025		   December 31,
2024		 
           
Securities sold under repurchase agreements  $11,058   $10,585 
v3.25.1
Federal Home Loan Bank (FHLB) Advances (Tables)
 3 Months Ended
Mar. 31, 2025
Federal Home Loan Bank (FHLB) Advances [Abstract]  
Schedule of Aggregate Annual Maturities of FHLB Advances Aggregate annual maturities of FHLB advances at March 31, 2025, were:
($ in thousands)  Debt 
2026  $12,500 
2027   5,000 
2028   17,500 
Total  $35,000 
v3.25.1
Disclosures about Fair Value of Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2025
Disclosures about Fair Value of Assets and Liabilities [Abstract]  
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis

The following tables present the fair value measurements of assets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fell at March 31, 2025, and at December 31, 2024.

($ in thousands)  Fair value at
March 31,
2025		   (Level 1)   (Level 2)   (Level 3) 
                 
U.S. Treasury and Government Agencies  $6,318   $
-
   $6,318   $
-
 
Mortgage-backed securities   168,621    
-
    168,621    
-
 
State and political subdivisions   9,429    
-
    9,429    
-
 
Other corporate securities   15,353    
-
    15,353    
-
 
Interest rate contracts - assets   2,756    
-
    2,756    
-
 
Interest rate contracts - liabilities   (2,756)   
-
    (2,756)   
-
 
Forward contracts   25    25    
-
    
-
 
IRLCs   (3)   
-
    
-
    (3)

 

($ in thousands)  Fair value at
December 31,
2024		   (Level 1)   (Level 2)   (Level 3) 
                 
U.S. Treasury and Government Agencies  $7,389   $
-
   $7,389   $
-
 
Mortgage-backed securities   169,620    
-
    169,620    
-
 
State and political subdivisions   9,407    
-
    9,407    
-
 
Other corporate securities   15,171    
-
    15,171    
-
 
Interest rate contracts - assets   4,029    
-
    4,029    
-
 
Interest rate contracts - liabilities   (4,029)   
-
    (4,029)   
-
 
Forward contracts   69    69    
-
    
-
 
IRLCs   (21)   
-
    
-
    (21)
Schedule of Fair Value Measurements Recognized in the Accompanying Consolidated Balance Sheets Using Significant Unobservable (Level 3) Inputs

The following table reconciles the beginning and ending balances of recurring fair value measurements recognized in the accompanying consolidated balance sheets using significant unobservable (Level 3) inputs for the three months ended March 31, 2025, and 2024.

 

   for the Three Months Ended
March 31,		 
($ in thousands)  2025   2024 
Interest rate lock commitments        
Balance at beginning of period  $(21)  $45 
Total realized gains (losses)          
Change in fair value   18    9 
Balance at end of period  $(3)  $54 
Schedule of Mortgage Servicing Rights are Tested for Impairment on a Quarterly Basis These mortgage servicing rights are tested for impairment on a quarterly basis.
($ in thousands)  Fair value at
March 31,
2025		   (Level 1)   (Level 2)   (Level 3) 
Collateral-dependent Individually evaluated loans  $849   $
      -
   $
      -
   $849 
Mortgage servicing rights   4,242    
-
    
-
    4,242 

 

($ in thousands)   Fair value at
December 31,
2024		     (Level 1)     (Level 2)    (Level 3) 
Collateral-dependent impaired loans  $1,167   $
-
   $
-
   $1,167 
Mortgage servicing rights   1,814    
-
    
-
    1,814 
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements

The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements.

 

   Fair value at          
($ in thousands)  March 31,
2025		   Valuation
technique		  Unobservable inputs  Range (weighted-
average)
              
Collateral-dependent individually evaluated loans  $849   Market comparable properties  Comparability adjustments (%)  1 - 28% (14)%
               
Mortgage servicing rights   4,242   Discounted cash flow  Discount rate  11.01%
           Constant prepayment rate  6.50%
           P&I earnings credit  4.22%
           T&I earnings credit  4.33%
           Inflation for cost of servicing  3.50%
               
IRLCs   (3)  Discounted cash flow  Loan closing rates  48% - 99%

 

   Fair value at          
($ in thousands)  December 31,
2024		   Valuation
technique		  Unobservable inputs  Range (weighted-
average)
              
Collateral-dependent impaired loans  $1,167   Market comparable properties  Comparability adjustments (%)  24 - 404% (84)%
               
Mortgage servicing rights   1,814   Discounted cash flow  Discount rate  11.13%
           Constant prepayment rate  7.30%
           P&I earnings credit  4.44%
           T&I earnings credit  4.49%
           Inflation for cost of servicing  3.50%
               
IRLCs   (21)  Discounted cash flow  Loan closing rates  64% - 99%
Schedule of Fair Values Financial Instruments the Company does not know whether the fair values shown below represent values at which the respective financial instruments could be sold individually or in the aggregate.
($ in thousands)  Carrying   Fair   Fair value measurements using 
March 31, 2025  amount   value   (Level 1)   (Level 2)   (Level 3) 
Financial assets                    
Cash and due from banks  $105,145   $105,145   $105,145   $
-
   $
-
 
Interest bearing time deposits   1,565    1,565    
-
    1,565    
-
 
Loans held for sale   4,286    4,372    
-
    4,372    
-
 
Loans, net of allowance for credit losses   1,072,883    1,068,405    
-
    
-
    1,068,405 
Federal Reserve and FHLB Bank stock, at cost   5,340    5,340    
-
    5,340    
-
 
Interest receivable   5,072    5,072    
-
    5,072    
-
 
                          
Financial liabilities                         
Deposits  $1,271,220   $1,271,345   $991,944   $279,401   $
-
 
Short-term borrowings   11,058    11,058    
-
    11,058    
-
 
FHLB advances   35,000    35,047    
-
    35,047    
-
 
Trust preferred securities   10,310    9,302    
-
    9,302    
-
 
Subordinated debt, net of issuance costs   19,702    18,863    
-
    18,863    
-
 
Interest payable   2,634    2,634    
-
    2,634    
-
 

 

($ in thousands)  Carrying   Fair   Fair value measurements using 
December 31, 2024  amount   value   (Level 1)   (Level 2)   (Level 3) 
Financial assets                    
Cash and due from banks  $25,928   $25,928   $25,928   $
-
   $
-
 
Interest bearing time deposits   1,565    1,565    
-
    1,565    
-
 
Loans held for sale   6,770    6,861    
-
    6,861    
-
 
Loans, net of allowance for credit losses   1,031,639    1,033,064    
-
    
-
    1,033,064 
Federal Reserve and FHLB Bank stock, at cost   5,223    5,223    
-
    5,223    
-
 
Interest receivable   4,908    4,908    
-
    4,908    
-
 
                          
Financial liabilities                         
Deposits  $1,152,605   $1,155,747   $893,388   $262,359   $
-
 
Short-term borrowings   10,585    10,585    
-
    10,585    
-
 
FHLB advances   35,000    34,782    
-
    34,782    
-
 
Trust preferred securities   10,310    9,495    
-
    9,495    
-
 
Subordinated debt, net of issuance costs   19,690    19,155    
-
    19,155    
-
 
Interest payable   2,351    2,351    
-
    2,351    
-
 
v3.25.1
Share Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2025
Share Based Compensation [Abstract]  
Schedule of Summary of Restricted Stock Activity

The table below is a summary of restricted stock activity under the Company’s 2017 Plan for the three months ended March 31, 2025.

 

   Shares   Weighted-
Average Value
per Share		 
Nonvested, January 1, 2025   54,311   $17.15 
Granted   21,003    23.43 
Vested   (23,234)   17.67 
Forfeited   (4,716)   17.65 
Nonvested, March 31, 2025   47,364   $19.63 
v3.25.1
Earnings Per Share - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Schedule of Basic and Diluted Earnings Per Share [Abstract]    
Distributed earnings allocated to common shares $ 947 $ 917
Undistributed earnings allocated to common shares 1,204 1,443
Net earnings allocated to common shares 2,151 2,360
Net earnings allocated to participating securities 7 8
Net Income allocated to common shares and participating securities $ 2,158 $ 2,368
Weighted average shares outstanding for basic earnings per share (in Shares) 6,481,000 6,715,000
Dilutive effect of stock compensation (in Shares) 21,000 8,000
Weighted average shares outstanding for diluted earnings per share (in Shares) 6,502,000 6,723,000
Basic earnings per common share (in Dollars per share) $ 0.33 $ 0.35
Diluted earnings per common share (in Dollars per share) $ 0.33 $ 0.35
v3.25.1
Business Combination (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Jan. 17, 2025
Mar. 31, 2025
Business Combination [Line Items]    
Cash for each (in Dollars per share) $ 196,310  
Merger expense   $ 0.7
Intangible assets amortized period   10 years
Statuatory rate   21.00%
Business Combination [Member]    
Business Combination [Line Items]    
Acquisition costs   $ 0.7
Goodwill   3.9
Intangible assets   1.7
Revenue   $ 0.3
Business Combination [Member]    
Business Combination [Line Items]    
Total consideration $ 5.0  
v3.25.1
Business Combination - Schedule of Assets Changes to Valuation Determinable at Acquisition Date (Details) - Business Combination [Member]
$ in Thousands
Jan. 17, 2025
USD ($)
Business Combination [Line Items]  
Cash and cash equivalents $ 1,995
Investment securities 30,123
Federal Reserve and Federal Home Loan Bank stock 117
Loans held for investment 18,661
Premises and equipment 1,036
Goodwill 3,919
Core deposit intangible 1,710
Other assets 1,600
Total assets acquired 59,161
Deposits 53,088
Other liabilities 1,064
Total liabilities assumed 54,152
Total purchase price (cash) $ 5,009
v3.25.1
Business Combination - Schedule of Acquisition Added Less Revenue (Details) - Business Combination [Member] - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Schedule of Acquisition Added Less Revenue [Line Items]    
Net interest income $ 11,339 $ 9,529
Provision for loan losses 387
Net interest income after provision 10,952 9,529
Non interest income 4,111 3,971
Non interest expense 12,669 10,728
Income before income taxes 2,394 2,772
Income tax expense [1] 431 481
Net income to common shareholders $ 1,963 $ 2,291
Basic earnings per share (in Dollars per share) $ 0.3 $ 0.34
Diluted earnngs per share (in Dollars per share) $ 0.3 $ 0.34
[1] Income tax expense for Marblehead calculated using a 21% statuatory rate
v3.25.1
Available-for-Sale Securities (Details)
$ in Millions
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Available-for-Sale Securities [Abstract]    
Fair value of securities pledged as collateral $ 134.1 $ 115.5
Securities delivered for repurchase agreements 13.7 17.3
Total fair value of investments $ 199.1 $ 201.3
Number of securities 134 138
Fair value investments percentage 93.00% 99.00%
Accrued interest receivable on available-for-sale debt securities $ 0.6 $ 0.6
v3.25.1
Available-for-Sale Securities - Schedule of Amortized Cost and Fair Values with Gross Unrealized Gains and Losses (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of Amortized Cost and Fair Values with Gross Unrealized Gains and Losses [Line Items]    
Amortized Cost $ 233,734 $ 239,859
Gross Unrealized Gains 6 4
Gross Unrealized Losses (34,019) (38,276)
Fair Value 199,721 201,587
U.S. Treasury and Government agencies [Member]    
Schedule of Amortized Cost and Fair Values with Gross Unrealized Gains and Losses [Line Items]    
Amortized Cost 6,918 8,120
Gross Unrealized Gains 2
Gross Unrealized Losses (602) (731)
Fair Value 6,318 7,389
Mortgage-backed securities [Member]    
Schedule of Amortized Cost and Fair Values with Gross Unrealized Gains and Losses [Line Items]    
Amortized Cost 198,737 203,646
Gross Unrealized Gains 4 4
Gross Unrealized Losses (30,120) (34,030)
Fair Value 168,621 169,620
State and political subdivisions [Member]    
Schedule of Amortized Cost and Fair Values with Gross Unrealized Gains and Losses [Line Items]    
Amortized Cost 10,879 10,893
Gross Unrealized Gains
Gross Unrealized Losses (1,450) (1,486)
Fair Value 9,429 9,407
Other corporate securities [Member]    
Schedule of Amortized Cost and Fair Values with Gross Unrealized Gains and Losses [Line Items]    
Amortized Cost 17,200 17,200
Gross Unrealized Gains
Gross Unrealized Losses (1,847) (2,029)
Fair Value $ 15,353 $ 15,171
v3.25.1
Available-for-Sale Securities - Schedule of Amortized Cost and Fair Value of Securities Available-For-Sale (Details)
$ in Thousands
Mar. 31, 2025
USD ($)
Amortized Cost [Member]  
Schedule of Amortized Cost and Fair Value of Securities Available-For-Sale [Line Items]  
Available for Sale, Amortized Cost, Within one year $ 1,039
Available for Sale, Amortized Cost, Due after one year through five years 1,132
Available for Sale, Amortized Cost, Due after five years through ten years 25,913
Available for Sale, Amortized Cost, Due after ten years 6,913
Available for Sale, Amortized Cost 34,997
Mortgage-backed securities 198,737
Totals 233,734
Fair Value [Member]  
Schedule of Amortized Cost and Fair Value of Securities Available-For-Sale [Line Items]  
Available for Sale, Fair Value, Within one year 1,039
Available for Sale, Fair Value, Due after one year through five years 1,117
Available for Sale, Fair Value, Due after five years through ten years 23,274
Available for Sale, Fair Value, Due after ten years 5,670
Available for Sale, Fair Value 31,100
Mortgage-backed securities 168,621
Totals $ 199,721
v3.25.1
Available-for-Sale Securities - Schedule of Securities with Unrealized Losses (Details)
$ in Thousands
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Schedule of Securities with Unrealized Losses [Line Items]    
Number of Securities 134 138
Less than 12 Months, Fair Value $ 1,490 $ 3,633
Less than 12 Months, Unrealized Losses (12) (136)
12 Months or Longer, Fair Value 197,605 197,620
12 Months or Longer, Unrealized Losses (34,007) (38,140)
Total Fair Value 199,095 201,253
Total Unrealized Losses $ (34,019) $ (38,276)
U.S. Treasury and Government agencies [Member]    
Schedule of Securities with Unrealized Losses [Line Items]    
Number of Securities 8 11
Less than 12 Months, Fair Value $ 789 $ 1,929
Less than 12 Months, Unrealized Losses
12 Months or Longer, Fair Value 5,177 5,460
12 Months or Longer, Unrealized Losses (602) (731)
Total Fair Value 5,966 7,389
Total Unrealized Losses $ (602) $ (731)
Mortgage-backed securities [Member]    
Schedule of Securities with Unrealized Losses [Line Items]    
Number of Securities 91 92
Less than 12 Months, Fair Value
Less than 12 Months, Unrealized Losses
12 Months or Longer, Fair Value 168,346 169,286
12 Months or Longer, Unrealized Losses (30,120) (34,030)
Total Fair Value 168,346 169,286
Total Unrealized Losses $ (30,120) $ (34,030)
State and political subdivisions [Member]    
Schedule of Securities with Unrealized Losses [Line Items]    
Number of Securities 21 21
Less than 12 Months, Fair Value $ 701 $ 1,319
Less than 12 Months, Unrealized Losses (12) (21)
12 Months or Longer, Fair Value 8,729 8,088
12 Months or Longer, Unrealized Losses (1,438) (1,465)
Total Fair Value 9,430 9,407
Total Unrealized Losses $ (1,450) $ (1,486)
Other corporate securities [Member]    
Schedule of Securities with Unrealized Losses [Line Items]    
Number of Securities 14 14
Less than 12 Months, Fair Value $ 385
Less than 12 Months, Unrealized Losses (115)
12 Months or Longer, Fair Value 15,353 14,786
12 Months or Longer, Unrealized Losses (1,847) (1,914)
Total Fair Value 15,353 15,171
Total Unrealized Losses $ (1,847) $ (2,029)
v3.25.1
Loans and Allowance for Credit Losses (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Loans and Allowance for Credit Losses [Line Items]    
Deferred loan net fees $ 670  
Deferred loan net costs   $ 150
Allowance for credit loss 230  
Outstanding balance 100,000  
Debt Loans [Member]    
Loans and Allowance for Credit Losses [Line Items]    
Accrued interest receivable 3,400 $ 3,300
Unfunded loan commitments [Member]    
Loans and Allowance for Credit Losses [Line Items]    
Allowance for credit loss $ 1,400  
v3.25.1
Loans and Allowance for Credit Losses - Schedule of Composition of the Loan Portfolio (Details) - Loans [Member] - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of Composition of the Loan Portfolio [Line Items]    
Total loans $ 1,088,274 $ 1,046,735
Allowance for credit losses (15,391) (15,096)
Loans, net 1,072,883 1,031,639
Commercial & industrial [Member]    
Schedule of Composition of the Loan Portfolio [Line Items]    
Total loans 125,878 124,764
Commercial real estate - owner occupied [Member]    
Schedule of Composition of the Loan Portfolio [Line Items]    
Total loans 140,019 134,431
Commercial real estate - nonowner occupied [Member]    
Schedule of Composition of the Loan Portfolio [Line Items]    
Total loans 369,499 345,142
Agricultural [Member]    
Schedule of Composition of the Loan Portfolio [Line Items]    
Total loans 61,443 64,680
Residential real estate [Member]    
Schedule of Composition of the Loan Portfolio [Line Items]    
Total loans 319,307 308,378
Home equity line of credit (HELOC) [Member]    
Schedule of Composition of the Loan Portfolio [Line Items]    
Total loans 55,443 53,811
Consumer [Member]    
Schedule of Composition of the Loan Portfolio [Line Items]    
Total loans $ 16,685 $ 15,529
v3.25.1
Loans and Allowance for Credit Losses - Schedule of Activity Related to the Allowance for Credit Losses (ACL) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Schedule of Activity Related to the Allowance for Credit Losses (ACL) [Line Items]      
Balance, beginning of period $ 15,096 $ 15,786 $ 15,786
Chargeoffs (86) (66) (289)
Recoveries 2 9 39
Provision for Credit Losses 379 (86) (440)
Balance, end of period 15,391 15,643 15,096
Commercial & industrial [Member]      
Schedule of Activity Related to the Allowance for Credit Losses (ACL) [Line Items]      
Balance, beginning of period 2,666 2,003 2,003
Chargeoffs (61) (42) (233)
Recoveries 6 5
Provision for Credit Losses (166) 626 891
Balance, end of period 2,439 2,593 2,666
Commercial real estate - owner occupied [Member]      
Schedule of Activity Related to the Allowance for Credit Losses (ACL) [Line Items]      
Balance, beginning of period 1,806 1,952 1,952
Chargeoffs
Recoveries
Provision for Credit Losses 58 57 (146)
Balance, end of period 1,864 2,009 1,806
Commercial real estate - nonowner occupied [Member]      
Schedule of Activity Related to the Allowance for Credit Losses (ACL) [Line Items]      
Balance, beginning of period 5,721 5,718 5,718
Chargeoffs
Recoveries
Provision for Credit Losses 333 (240) 3
Balance, end of period 6,054 5,478 5,721
Agricultural [Member]      
Schedule of Activity Related to the Allowance for Credit Losses (ACL) [Line Items]      
Balance, beginning of period 884 440 440
Chargeoffs
Recoveries
Provision for Credit Losses (22) 528 444
Balance, end of period 862 968 884
Residential real estate [Member]      
Schedule of Activity Related to the Allowance for Credit Losses (ACL) [Line Items]      
Balance, beginning of period 3,330 4,936 4,936
Chargeoffs (3)
Recoveries
Provision for Credit Losses 128 (1,075) (1,603)
Balance, end of period 3,458 3,861 3,330
HELOC [Member]      
Schedule of Activity Related to the Allowance for Credit Losses (ACL) [Line Items]      
Balance, beginning of period 520 510 510
Chargeoffs (4)
Recoveries
Provision for Credit Losses 23 14 10
Balance, end of period 539 524 520
Consumer [Member]      
Schedule of Activity Related to the Allowance for Credit Losses (ACL) [Line Items]      
Balance, beginning of period 169 227 227
Chargeoffs (21) (24) (53)
Recoveries 2 3 34
Provision for Credit Losses 25 4 (39)
Balance, end of period $ 175 $ 210 $ 169
v3.25.1
Loans and Allowance for Credit Losses - Schedule of Presents an Analysis of Collateral-Dependent Loans (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type $ 5,441 $ 4,477
Allocated Allowance 102 419
Real Estate [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type 4,197 3,852
Other [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type 1,244 625
Commercial & industrial [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type 3,762 2,877
Allocated Allowance 65 380
Commercial & industrial [Member] | Real Estate [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type 2,518 2,252
Commercial & industrial [Member] | Other [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type 1,244 625
Commercial real estate - owner occupied [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type 429 429
Allocated Allowance 13 13
Commercial real estate - owner occupied [Member] | Real Estate [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type 429 429
Commercial real estate - owner occupied [Member] | Other [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type
Commercial real estate - nonowner occupied [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type 151 370
Allocated Allowance
Commercial real estate - nonowner occupied [Member] | Real Estate [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type 151 370
Commercial real estate - nonowner occupied [Member] | Other [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type
Agricultural [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type
Allocated Allowance
Agricultural [Member] | Real Estate [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type
Agricultural [Member] | Other [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type
Residential real estate [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type 1,099 801
Allocated Allowance 24 26
Residential real estate [Member] | Real Estate [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type 1,099 801
Residential real estate [Member] | Other [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type
HELOC [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type
Allocated Allowance
HELOC [Member] | Real Estate [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type
HELOC [Member] | Other [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type
Consumer [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type
Allocated Allowance
Consumer [Member] | Real Estate [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type
Consumer [Member] | Other [Member]    
Schedule of Presents an Analysis of Collateral-Dependent Loans [Line Items]    
Collateral Type
v3.25.1
Loans and Allowance for Credit Losses - Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Commercial & industrial [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 $ 5,496 $ 22,688
Term Loans by Year of Origination 2024 23,384 13,435
Term Loans by Year of Origination 2023 11,685 13,398
Term Loans by Year of Origination 2022 12,868 14,411
Term Loans by Year of Origination 2021 14,242 9,234
Term Loans by Year of Origination Prior 18,962 10,743
Revolving Loans 35,984 37,535
Revolving Loans Converted to Terms 3,257 3,320
Total 125,878 124,764
Commercial real estate - owner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 6,650 15,070
Term Loans by Year of Origination 2024 21,014 30,372
Term Loans by Year of Origination 2023 25,413 20,002
Term Loans by Year of Origination 2022 19,745 24,413
Term Loans by Year of Origination 2021 23,924 13,921
Term Loans by Year of Origination Prior 42,069 30,141
Revolving Loans 1,158 463
Revolving Loans Converted to Terms 46 49
Total 140,019 134,431
Commercial real estate - nonowner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 27,498 94,496
Term Loans by Year of Origination 2024 98,129 47,026
Term Loans by Year of Origination 2023 45,886 51,096
Term Loans by Year of Origination 2022 50,799 40,584
Term Loans by Year of Origination 2021 38,345 39,093
Term Loans by Year of Origination Prior 108,712 72,729
Revolving Loans 130 118
Revolving Loans Converted to Terms
Total 369,499 345,142
Agricultural [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 3,017 8,100
Term Loans by Year of Origination 2024 6,867 8,295
Term Loans by Year of Origination 2023 7,866 14,482
Term Loans by Year of Origination 2022 13,657 10,748
Term Loans by Year of Origination 2021 10,599 2,618
Term Loans by Year of Origination Prior 10,412 8,967
Revolving Loans 9,025 11,470
Revolving Loans Converted to Terms
Total 61,443 64,680
Residential real estate [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 3,852 31,291
Term Loans by Year of Origination 2024 32,776 42,261
Term Loans by Year of Origination 2023 43,340 100,375
Term Loans by Year of Origination 2022 101,738 76,402
Term Loans by Year of Origination 2021 76,779 28,287
Term Loans by Year of Origination Prior 60,822 29,762
Revolving Loans
Revolving Loans Converted to Terms
Total 319,307 308,378
Home equity line of credit (HELOC) [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022 12
Term Loans by Year of Origination 2021 11 18
Term Loans by Year of Origination Prior 145 99
Revolving Loans 48,661 47,047
Revolving Loans Converted to Terms 6,626 6,635
Total 55,443 53,811
Consumer [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 525 1,909
Term Loans by Year of Origination 2024 1,735 1,993
Term Loans by Year of Origination 2023 2,089 3,260
Term Loans by Year of Origination 2022 3,360 725
Term Loans by Year of Origination 2021 1,045 319
Term Loans by Year of Origination Prior 1,231 94
Revolving Loans 6,700 7,229
Revolving Loans Converted to Terms
Total 16,685 15,529
Total Loans [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 47,038 173,554
Term Loans by Year of Origination 2024 183,905 143,382
Term Loans by Year of Origination 2023 136,279 202,613
Term Loans by Year of Origination 2022 202,167 167,295
Term Loans by Year of Origination 2021 164,945 93,490
Term Loans by Year of Origination Prior 242,353 152,535
Revolving Loans 101,658 103,862
Revolving Loans Converted to Terms 9,929 10,004
Total 1,088,274 1,046,735
Pass (1 - 4) [Member] | Commercial & industrial [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 5,496 22,688
Term Loans by Year of Origination 2024 23,228 12,927
Term Loans by Year of Origination 2023 11,182 12,813
Term Loans by Year of Origination 2022 12,283 14,207
Term Loans by Year of Origination 2021 13,800 9,101
Term Loans by Year of Origination Prior 18,175 10,022
Revolving Loans 34,712 36,363
Revolving Loans Converted to Terms 3,015 3,204
Total 121,891 121,325
Pass (1 - 4) [Member] | Commercial real estate - owner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 6,650 15,070
Term Loans by Year of Origination 2024 21,014 30,372
Term Loans by Year of Origination 2023 25,413 20,002
Term Loans by Year of Origination 2022 19,745 24,406
Term Loans by Year of Origination 2021 23,921 13,491
Term Loans by Year of Origination Prior 41,638 30,140
Revolving Loans 1,158 463
Revolving Loans Converted to Terms 46 49
Total 139,585 133,993
Pass (1 - 4) [Member] | Commercial real estate - nonowner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 27,498 94,098
Term Loans by Year of Origination 2024 97,732 47,026
Term Loans by Year of Origination 2023 45,886 50,942
Term Loans by Year of Origination 2022 50,648 40,584
Term Loans by Year of Origination 2021 38,345 39,093
Term Loans by Year of Origination Prior 108,593 72,609
Revolving Loans 130 118
Revolving Loans Converted to Terms
Total 368,832 344,470
Pass (1 - 4) [Member] | Agricultural [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 3,017 8,100
Term Loans by Year of Origination 2024 6,867 8,295
Term Loans by Year of Origination 2023 7,866 14,482
Term Loans by Year of Origination 2022 13,657 10,748
Term Loans by Year of Origination 2021 10,599 2,618
Term Loans by Year of Origination Prior 10,412 8,967
Revolving Loans 9,025 11,470
Revolving Loans Converted to Terms
Total 61,443 64,680
Pass (1 - 4) [Member] | Residential real estate [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 3,852 31,291
Term Loans by Year of Origination 2024 32,776 41,982
Term Loans by Year of Origination 2023 43,065 100,375
Term Loans by Year of Origination 2022 101,738 76,146
Term Loans by Year of Origination 2021 76,528 28,237
Term Loans by Year of Origination Prior 59,728 28,797
Revolving Loans
Revolving Loans Converted to Terms
Total 317,687 306,828
Pass (1 - 4) [Member] | Home equity line of credit (HELOC) [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022 12
Term Loans by Year of Origination 2021 11 18
Term Loans by Year of Origination Prior 101 51
Revolving Loans 48,525 46,908
Revolving Loans Converted to Terms 6,589 6,591
Total 55,226 53,580
Pass (1 - 4) [Member] | Consumer [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 525 1,909
Term Loans by Year of Origination 2024 1,735 1,993
Term Loans by Year of Origination 2023 2,089 3,247
Term Loans by Year of Origination 2022 3,356 725
Term Loans by Year of Origination 2021 1,045 319
Term Loans by Year of Origination Prior 1,231 94
Revolving Loans 6,700 7,229
Revolving Loans Converted to Terms
Total 16,681 15,516
Pass (1 - 4) [Member] | Total Loans [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 47,038 173,156
Term Loans by Year of Origination 2024 183,352 142,595
Term Loans by Year of Origination 2023 135,501 201,861
Term Loans by Year of Origination 2022 201,427 166,828
Term Loans by Year of Origination 2021 164,249 92,877
Term Loans by Year of Origination Prior 239,878 150,680
Revolving Loans 100,250 102,551
Revolving Loans Converted to Terms 9,650 9,844
Total 1,081,345 1,040,392
Special Mention (5) [Member] | Commercial & industrial [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024 36 355
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021 238 133
Term Loans by Year of Origination Prior 129
Revolving Loans 25 25
Revolving Loans Converted to Terms
Total 428 513
Special Mention (5) [Member] | Commercial real estate - owner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior 430
Revolving Loans
Revolving Loans Converted to Terms
Total 430
Special Mention (5) [Member] | Commercial real estate - nonowner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 398
Term Loans by Year of Origination 2024 397
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total 397 398
Special Mention (5) [Member] | Agricultural [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Special Mention (5) [Member] | Residential real estate [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Special Mention (5) [Member] | Home equity line of credit (HELOC) [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Special Mention (5) [Member] | Consumer [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Special Mention (5) [Member] | Total Loans [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025 398
Term Loans by Year of Origination 2024 433 355
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021 238 133
Term Loans by Year of Origination Prior 559
Revolving Loans 25 25
Revolving Loans Converted to Terms
Total 1,255 911
Substandard (6) [Member] | Commercial & industrial [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024 120
Term Loans by Year of Origination 2023 350 585
Term Loans by Year of Origination 2022 152
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior 177 673
Revolving Loans 1,247 1,147
Revolving Loans Converted to Terms 213 88
Total 2,259 2,493
Substandard (6) [Member] | Commercial real estate - owner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021 430
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total 430
Substandard (6) [Member] | Commercial real estate - nonowner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023 154
Term Loans by Year of Origination 2022 151
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior 119 120
Revolving Loans
Revolving Loans Converted to Terms
Total 270 274
Substandard (6) [Member] | Agricultural [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Substandard (6) [Member] | Residential real estate [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024 279
Term Loans by Year of Origination 2023 275
Term Loans by Year of Origination 2022 256
Term Loans by Year of Origination 2021 251 50
Term Loans by Year of Origination Prior 1,094 965
Revolving Loans
Revolving Loans Converted to Terms
Total 1,620 1,550
Substandard (6) [Member] | Home equity line of credit (HELOC) [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior 44 48
Revolving Loans 136 139
Revolving Loans Converted to Terms 37 44
Total 217 231
Substandard (6) [Member] | Consumer [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023 13
Term Loans by Year of Origination 2022 4
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total 4 13
Substandard (6) [Member] | Total Loans [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024 120 279
Term Loans by Year of Origination 2023 625 752
Term Loans by Year of Origination 2022 307 256
Term Loans by Year of Origination 2021 251 480
Term Loans by Year of Origination Prior 1,434 1,806
Revolving Loans 1,383 1,286
Revolving Loans Converted to Terms 250 132
Total 4,370 4,991
Doubtful (7) [Member] | Commercial & industrial [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024 153
Term Loans by Year of Origination 2023 153
Term Loans by Year of Origination 2022 433 204
Term Loans by Year of Origination 2021 204
Term Loans by Year of Origination Prior 481 48
Revolving Loans
Revolving Loans Converted to Terms 29 28
Total 1,300 433
Doubtful (7) [Member] | Commercial real estate - owner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022 7
Term Loans by Year of Origination 2021 3
Term Loans by Year of Origination Prior 1 1
Revolving Loans
Revolving Loans Converted to Terms
Total 4 8
Doubtful (7) [Member] | Commercial real estate - nonowner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Doubtful (7) [Member] | Agricultural [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Doubtful (7) [Member] | Residential real estate [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Doubtful (7) [Member] | Home equity line of credit (HELOC) [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Doubtful (7) [Member] | Consumer [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Doubtful (7) [Member] | Total Loans [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024 153
Term Loans by Year of Origination 2023 153
Term Loans by Year of Origination 2022 433 211
Term Loans by Year of Origination 2021 207
Term Loans by Year of Origination Prior 482 49
Revolving Loans
Revolving Loans Converted to Terms 29 28
Total 1,304 441
Loss (8) [Member] | Commercial & industrial [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Loss (8) [Member] | Commercial real estate - owner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Loss (8) [Member] | Commercial real estate - nonowner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Loss (8) [Member] | Agricultural [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Loss (8) [Member] | Residential real estate [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Loss (8) [Member] | Home equity line of credit (HELOC) [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Loss (8) [Member] | Consumer [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Loss (8) [Member] | Total Loans [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Current period gross chargeoffs [Member] | Commercial & industrial [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024 42
Term Loans by Year of Origination 2023 25
Term Loans by Year of Origination 2022 23
Term Loans by Year of Origination 2021 143
Term Loans by Year of Origination Prior 33
Revolving Loans 28
Revolving Loans Converted to Terms
Total 61 233
Current period gross chargeoffs [Member] | Commercial real estate - owner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Current period gross chargeoffs [Member] | Commercial real estate - nonowner occupied [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Current period gross chargeoffs [Member] | Agricultural [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total
Current period gross chargeoffs [Member] | Residential real estate [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022 3
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior
Revolving Loans
Revolving Loans Converted to Terms
Total 3
Current period gross chargeoffs [Member] | Home equity line of credit (HELOC) [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022
Term Loans by Year of Origination 2021
Term Loans by Year of Origination Prior 4
Revolving Loans
Revolving Loans Converted to Terms
Total 4
Current period gross chargeoffs [Member] | Consumer [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024
Term Loans by Year of Origination 2023
Term Loans by Year of Origination 2022 5
Term Loans by Year of Origination 2021 2
Term Loans by Year of Origination Prior
Revolving Loans 21 46
Revolving Loans Converted to Terms
Total 21 53
Current period gross chargeoffs [Member] | Total Loans [Member]    
Schedule of Loan Balances by Credit Quality Indicators and Gross Chargeoffs [Line Items]    
Term Loans by Year of Origination 2025
Term Loans by Year of Origination 2024 42
Term Loans by Year of Origination 2023 25
Term Loans by Year of Origination 2022 31
Term Loans by Year of Origination 2021 145
Term Loans by Year of Origination Prior 37
Revolving Loans 49 46
Revolving Loans Converted to Terms
Total $ 86 $ 289
v3.25.1
Loans and Allowance for Credit Losses - Schedule of Company’s Loan Portfolio Aging Analysis (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Current $ 1,082,332 $ 988,815
Total Loans 1,088,274 991,552
Commercial & industrial [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Current 122,444 118,343
Total Loans 125,878 120,016
Commercial real estate - owner occupied [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Current 139,590 131,313
Total Loans 140,019 131,313
Commercial real estate - nonowner occupied [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Current 369,133 297,994
Total Loans 369,499 298,049
Agricultural [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Current 61,439 62,365
Total Loans 61,443 62,365
Residential real estate [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Current 318,030 313,947
Total Loans 319,307 314,668
HELOC [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Current 55,195 47,780
Total Loans 55,443 48,062
Consumer [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Current 16,501 17,073
Total Loans 16,685 17,079
30-59 Days Past Due [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 682 921
30-59 Days Past Due [Member] | Commercial & industrial [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 16 776
30-59 Days Past Due [Member] | Commercial real estate - owner occupied [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due
30-59 Days Past Due [Member] | Commercial real estate - nonowner occupied [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 27
30-59 Days Past Due [Member] | Agricultural [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due
30-59 Days Past Due [Member] | Residential real estate [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 387
30-59 Days Past Due [Member] | HELOC [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 128 117
30-59 Days Past Due [Member] | Consumer [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 151 1
60-89 Days Past Due [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 115 659
60-89 Days Past Due [Member] | Commercial & industrial [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 127
60-89 Days Past Due [Member] | Commercial real estate - owner occupied [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due
60-89 Days Past Due [Member] | Commercial real estate - nonowner occupied [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 0
60-89 Days Past Due [Member] | Agricultural [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 4
60-89 Days Past Due [Member] | Residential real estate [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 54 427
60-89 Days Past Due [Member] | HELOC [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 24 100
60-89 Days Past Due [Member] | Consumer [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 33 5
Greater Than 90 Days Past Due [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 5,145 1,157
Greater Than 90 Days Past Due [Member] | Commercial & industrial [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 3,418 770
Greater Than 90 Days Past Due [Member] | Commercial real estate - owner occupied [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 429
Greater Than 90 Days Past Due [Member] | Commercial real estate - nonowner occupied [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 366 28
Greater Than 90 Days Past Due [Member] | Agricultural [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due
Greater Than 90 Days Past Due [Member] | Residential real estate [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 836 294
Greater Than 90 Days Past Due [Member] | HELOC [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 96 65
Greater Than 90 Days Past Due [Member] | Consumer [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due
Total Past Due [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 5,942 2,737
Total Past Due [Member] | Commercial & industrial [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 3,434 1,673
Total Past Due [Member] | Commercial real estate - owner occupied [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 429
Total Past Due [Member] | Commercial real estate - nonowner occupied [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 366 55
Total Past Due [Member] | Agricultural [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 4
Total Past Due [Member] | Residential real estate [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 1,277 721
Total Past Due [Member] | HELOC [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due 248 282
Total Past Due [Member] | Consumer [Member]    
Schedule of Company’s Loan Portfolio Aging Analysis [Line Items]    
Total Past Due $ 184 $ 6
v3.25.1
Loans and Allowance for Credit Losses - Schedule of Categories of Nonaccrual Loans (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of Categories of Nonaccrual Loans [Line Items]    
Nonaccrual loans with no allowance $ 5,450 $ 4,349
Nonaccrual loans with an allowance 601 1,167
Total nonaccrual loans 6,051 5,516
Commercial & industrial [Member]    
Schedule of Categories of Nonaccrual Loans [Line Items]    
Nonaccrual loans with no allowance 3,356 2,301
Nonaccrual loans with an allowance 62 626
Total nonaccrual loans 3,418 2,927
Commercial real estate - owner occupied [Member]    
Schedule of Categories of Nonaccrual Loans [Line Items]    
Nonaccrual loans with no allowance 3 7
Nonaccrual loans with an allowance 429 430
Total nonaccrual loans 432 437
Commercial real estate - nonowner occupied [Member]    
Schedule of Categories of Nonaccrual Loans [Line Items]    
Nonaccrual loans with no allowance 366 370
Nonaccrual loans with an allowance
Total nonaccrual loans 366 370
Agricultural [Member]    
Schedule of Categories of Nonaccrual Loans [Line Items]    
Nonaccrual loans with no allowance
Nonaccrual loans with an allowance
Total nonaccrual loans
Residential real estate [Member]    
Schedule of Categories of Nonaccrual Loans [Line Items]    
Nonaccrual loans with no allowance 1,498 1,428
Nonaccrual loans with an allowance 110 111
Total nonaccrual loans 1,608 1,539
Home equity line of credit (HELOC) [Member]    
Schedule of Categories of Nonaccrual Loans [Line Items]    
Nonaccrual loans with no allowance 216 231
Nonaccrual loans with an allowance
Total nonaccrual loans 216 231
Consumer [Member]    
Schedule of Categories of Nonaccrual Loans [Line Items]    
Nonaccrual loans with no allowance 11 12
Nonaccrual loans with an allowance
Total nonaccrual loans $ 11 $ 12
v3.25.1
Loans and Allowance for Credit Losses - Schedule of Activity in the ACL for Unfunded Loan Commitments (Details) - Unfunded Loan Commitments [Member] - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Schedule of Activity in the ACL for Unfunded Loan Commitments [Line Items]    
Balance, beginning of period $ 1,340 $ 776
Adjustment for acquired loans 3
Provision for unfunded commitments 10 86
Balance, end of period $ 1,353 $ 862
v3.25.1
Goodwill (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jan. 17, 2025
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Line Items]          
Goodwill   $ 27,158 $ 23,239 $ 23,239 $ 23,239
Acquisition of goodwill   $ 3,919    
Marblehead Bank [Member]          
Goodwill [Line Items]          
Acquisition of goodwill $ 3,900        
v3.25.1
Goodwill - Schedule of Goodwill (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Schedule of Goodwill [Abstract]    
Beginning balance $ 23,239 $ 23,239
Acquired goodwill 3,919
Ending balance $ 27,158 $ 23,239
v3.25.1
Mortgage Servicing Rights (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Mortgage Servicing Rights [Line Items]      
Contractually specified servicing fees $ 0.9 $ 0.9  
Mortgage-Backed Securities, Other [Member]      
Mortgage Servicing Rights [Line Items]      
Unpaid principal balance of mortgage loans $ 1,430.0   $ 1,430.0
v3.25.1
Mortgage Servicing Rights - Schedule of Mortgage Servicing Rights Capitalized and Related Amortization (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Schedule of Mortgage Servicing Rights Capitalized and Related Amortization [Abstract]    
Balance at beginning of period $ 14,868 $ 13,906
Mortgage servicing rights capitalized during the period 380 377
Mortgage servicing rights amortization during the period (293) (273)
Net change in valuation allowance 10 181
Balance at end of period 14,965 14,191
Valuation allowance:    
Balance at beginning of period 186 227
Increase (decrease) (10) (181)
Balance at end of period 176 46
Fair value, beginning of period 17,782 17,125
Fair value, end of period $ 18,212 $ 18,141
v3.25.1
Derivative Financial Instruments - Schedule of Notional Amount and Fair Value of the Company’s Interest Rate Swaps (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Asset Derivatives    
Asset Derivatives, Notional Amount $ 105,014 $ 90,235
Liability Derivatives, Notional Amount 107,747 86,647
Asset Derivatives, Fair Value 2,781 4,098
Liability Derivatives, Fair Value (2,759) (4,050)
Derivatives not designated as hedging instruments    
Asset Derivatives, Notional Amount 105,014 90,235
Liability Derivatives, Notional Amount 107,747 86,647
Asset Derivatives, Fair Value 2,781 4,098
Liability Derivatives, Fair Value (2,759) (4,050)
Interest rate swaps associated with loans [Member]    
Asset Derivatives    
Asset Derivatives, Notional Amount 86,247 79,235
Liability Derivatives, Notional Amount 86,247 79,235
Asset Derivatives, Fair Value 2,756 4,029
Liability Derivatives, Fair Value (2,756) (4,029)
Derivatives not designated as hedging instruments    
Asset Derivatives, Notional Amount 86,247 79,235
Liability Derivatives, Notional Amount 86,247 79,235
Asset Derivatives, Fair Value 2,756 4,029
Liability Derivatives, Fair Value (2,756) (4,029)
Forward Contracts [Member]    
Asset Derivatives    
Asset Derivatives, Notional Amount 18,767 11,000
Asset Derivatives, Fair Value 25 69
Derivatives not designated as hedging instruments    
Asset Derivatives, Notional Amount 18,767 11,000
Asset Derivatives, Fair Value 25 69
IRLCs [Member]    
Asset Derivatives    
Liability Derivatives, Notional Amount 21,500 7,412
Liability Derivatives, Fair Value (3) (21)
Derivatives not designated as hedging instruments    
Liability Derivatives, Notional Amount 21,500 7,412
Liability Derivatives, Fair Value $ (3) $ (21)
v3.25.1
Derivative Financial Instruments - Schedule of Consolidated Statements of Income for Non-Hedging Derivative Financial Instruments (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest rate swap contracts [Member]    
Schedule of Consolidated Statements of Income for Non-Hedging Derivative Financial Instruments [Line items]    
Statement of income classification Other income  
Amount of gain (loss) $ 107
IRLCs [Member]    
Schedule of Consolidated Statements of Income for Non-Hedging Derivative Financial Instruments [Line items]    
Statement of income classification Gain on sale of mortgage loans & OMSR  
Amount of gain (loss) $ 18 9
Forward contracts [Member]    
Schedule of Consolidated Statements of Income for Non-Hedging Derivative Financial Instruments [Line items]    
Statement of income classification Gain on sale of mortgage loans & OMSR  
Amount of gain (loss) $ (44) $ 8
v3.25.1
Derivative Financial Instruments - Schedule of Table Shows the Offsetting of Financial Assets and Derivative Assets (Details) - Interest rate swaps [Member] - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of the Offsetting of Financial Assets and Derivative Assets [Line Items]    
Gross amounts of recognized assets $ 3,323 $ 4,172
Gross amounts offset in the consolidated balance sheet 567 143
Net amounts of assets presented in the consolidated balance sheet 2,756 4,029
Gross amounts not offset in the consolidated balance sheet, Financial instruments
Gross amounts not offset in the consolidated balance sheet, Cash collateral received 2,710 3,130
Gross amounts not offset in the consolidated balance sheet, Net amount $ 46 $ 899
v3.25.1
Derivative Financial Instruments - Schedule of Table Shows the Offsetting of Financial Liabilities and Derivative Liabilities (Details) - Interest rate swaps [Member] - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of Table Shows the Offsetting of Financial Liabilities and Derivative Liabilities [Line Items]    
Gross amounts of recognized liabilities $ 3,323 $ 4,172
Gross amounts offset in the consolidated balance sheet 567 143
Net amounts of liabilities presented in the consolidated balance sheet 2,756 4,029
Gross amounts not offset in the consolidated balance sheet, Financial instruments
Gross amounts not offset in the consolidated balance sheet, Cash collateral pledged
Gross amounts not offset in the consolidated balance sheet, Net amount $ 2,756 $ 4,029
v3.25.1
Deposits (Details) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Deposits [Abstract]    
Certificate of deposit $ 56.9 $ 58.2
v3.25.1
Deposits - Schedule of Major Classification of Deposits (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of Major Classification of Deposits [Abstract]    
Non interest bearing demand $ 240,446 $ 232,155
Interest bearing demand 208,583 201,085
Savings 285,902 237,987
Money market 257,013 222,161
Time deposits $250,000 or less 224,421 208,273
Time deposits greater than $250,000 54,855 50,944
Total deposits $ 1,271,220 $ 1,152,605
v3.25.1
Short-Term Borrowings (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Short-Term Borrowings [Line Items]    
Securities fair value total $ 13.7 $ 17.3
Maximum amount outstanding $ 41.0 $ 41.0
REPO Agreements [Member]    
Short-Term Borrowings [Line Items]    
Agreements term The REPO agreements mature within one month.  
v3.25.1
Short-Term Borrowings - Schedule of Short-Term Borrowings (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Short-Term Borrowings [Abstract]    
Securities sold under repurchase agreements $ 11,058 $ 10,585
v3.25.1
Federal Home Loan Bank (FHLB) Advances (Details)
$ in Millions
Mar. 31, 2025
USD ($)
Federal Home Loan Bank (FHLB) Advances [Line Items]  
Secured by mortgage loans (in Dollars) $ 323.0
Minimum [Member]  
Federal Home Loan Bank (FHLB) Advances [Line Items]  
Fixed interest rates 3.75%
Maximum [Member]  
Federal Home Loan Bank (FHLB) Advances [Line Items]  
Fixed interest rates 4.61%
v3.25.1
Federal Home Loan Bank (FHLB) Advances - Schedule of Aggregate Annual Maturities of FHLB Advances (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of Aggregate Annual Maturities of FHLB Advances [Abstract]    
2026 $ 12,500  
2027 5,000  
2028 17,500  
Total $ 35,000 $ 35,000
v3.25.1
Trust Preferred Securities (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Sep. 15, 2005
Mar. 31, 2025
Dec. 31, 2024
Trust Preferred Securities [Line Items]      
Private offering of capital securities $ 10,000 $ 10,300 $ 10,300
Liquidation amount $ 1,000    
Capital Securities [Member]      
Trust Preferred Securities [Line Items]      
Variable rate percentage   1.80%  
Maturity date   Sep. 15, 2035  
v3.25.1
Subordinated Debt (Details) - Subordinated Notes [Member] - USD ($)
$ in Millions
 3 Months Ended
May 27, 2021
Mar. 31, 2025
Subordinated Debt [Line Items]    
Aggregate principal amount $ 20.0  
Fixed to floating rate 3.65%  
Maturity date   Jun. 01, 2031
Fixed rate percentage   3.65%
Debt issuance costs   $ 0.5
v3.25.1
Disclosures about Fair Value of Assets and Liabilities - Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
U.S. Treasury and Government Agencies [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis $ 6,318 $ 7,389
U.S. Treasury and Government Agencies [Member] | Level 1 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
U.S. Treasury and Government Agencies [Member] | Level 2 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis 6,318 7,389
U.S. Treasury and Government Agencies [Member] | Level 3 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
Mortgage-backed securities [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis 168,621 169,620
Mortgage-backed securities [Member] | Level 1 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
Mortgage-backed securities [Member] | Level 2 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis 168,621 169,620
Mortgage-backed securities [Member] | Level 3 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
State and political subdivisions [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis 9,429 9,407
State and political subdivisions [Member] | Level 1 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
State and political subdivisions [Member] | Level 2 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis 9,429 9,407
State and political subdivisions [Member] | Level 3 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
Other corporate securities [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis 15,353 15,171
Other corporate securities [Member] | Level 1 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
Other corporate securities [Member] | Level 2 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis 15,353 15,171
Other corporate securities [Member] | Level 3 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
Interest rate contracts - assets [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis 2,756 4,029
Interest rate contracts - assets [Member] | Level 1 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
Interest rate contracts - assets [Member] | Level 2 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis 2,756 4,029
Interest rate contracts - assets [Member] | Level 3 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
Interest rate contracts - liabilities [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis (2,756) (4,029)
Interest rate contracts - liabilities [Member] | Level 1 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
Interest rate contracts - liabilities [Member] | Level 2 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis (2,756) (4,029)
Interest rate contracts - liabilities [Member] | Level 3 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
Forward contracts [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis 25 69
Forward contracts [Member] | Level 1 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis 25 69
Forward contracts [Member] | Level 2 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
Forward contracts [Member] | Level 3 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
IRLCs [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis (3) (21)
IRLCs [Member] | Level 1 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
IRLCs [Member] | Level 2 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis
IRLCs [Member] | Level 3 [Member]    
Schedule of Fair Value Measurements of Assets Measured at Fair Value on a Recurring Basis [Line Items]    
Assets measured at fair value on a recurring basis $ (3) $ (21)
v3.25.1
Disclosures about Fair Value of Assets and Liabilities - Schedule of Fair Value Measurements Recognized in the Accompanying Consolidated Balance Sheets Using Significant Unobservable (Level 3) Inputs (Details) - Level 3 [Member] - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest rate lock commitments    
Balance at beginning of period $ (21) $ 45
Total realized gains (losses)    
Change in fair value 18 9
Balance at end of period $ (3) $ 54
v3.25.1
Disclosures about Fair Value of Assets and Liabilities - Schedule of Mortgage Servicing Rights are Tested for Impairment on a Quarterly Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of Mortgage Servicing Rights are Tested for Impairment on a Quarterly Basis [Line Items]    
Mortgage servicing rights $ 4,242 $ 1,814
Level 1 [Member]    
Schedule of Mortgage Servicing Rights are Tested for Impairment on a Quarterly Basis [Line Items]    
Mortgage servicing rights
Level 2 [Member]    
Schedule of Mortgage Servicing Rights are Tested for Impairment on a Quarterly Basis [Line Items]    
Mortgage servicing rights
Level 3 [Member]    
Schedule of Mortgage Servicing Rights are Tested for Impairment on a Quarterly Basis [Line Items]    
Mortgage servicing rights 4,242 1,814
Collateral-dependent impaired loans [Member]    
Schedule of Mortgage Servicing Rights are Tested for Impairment on a Quarterly Basis [Line Items]    
Mortgage servicing rights 849 1,167
Collateral-dependent impaired loans [Member] | Level 1 [Member]    
Schedule of Mortgage Servicing Rights are Tested for Impairment on a Quarterly Basis [Line Items]    
Mortgage servicing rights
Collateral-dependent impaired loans [Member] | Level 2 [Member]    
Schedule of Mortgage Servicing Rights are Tested for Impairment on a Quarterly Basis [Line Items]    
Mortgage servicing rights
Collateral-dependent impaired loans [Member] | Level 3 [Member]    
Schedule of Mortgage Servicing Rights are Tested for Impairment on a Quarterly Basis [Line Items]    
Mortgage servicing rights $ 849 $ 1,167
v3.25.1
Disclosures about Fair Value of Assets and Liabilities - Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Collateral-dependent individually evaluated loans [Member]    
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements [Line Items]    
Fair value $ 849  
Unobservable inputs Comparability adjustments (%)  
Range (weighted-average) 1 - 28% (14)%  
Valuation technique Market comparable properties  
IRLCs [Member]    
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements [Line Items]    
Fair value $ (3) $ (21)
Unobservable inputs Loan closing rates Loan closing rates
Valuation technique Discounted cash flow Discounted cash flow
Collateral-dependent impaired loans [Member]    
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements [Line Items]    
Fair value   $ 1,167
Unobservable inputs   Comparability adjustments (%)
Range (weighted-average)   24 - 404% (84)%
Valuation technique   Market comparable properties
Minimum [Member] | IRLCs [Member]    
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements [Line Items]    
Range (weighted-average) 48% 64%
Maximum [Member] | IRLCs [Member]    
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements [Line Items]    
Range (weighted-average) 99% 99%
Discount Rate [Member] | Mortgage servicing rights [Member]    
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements [Line Items]    
Fair value $ 4,242 $ 1,814
Unobservable inputs Discount rate Discount rate
Range (weighted-average) 11.01% 11.13%
Valuation technique Discounted cash flow Discounted cash flow
Constant prepayment rate [Member] | Mortgage servicing rights [Member]    
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements [Line Items]    
Unobservable inputs Constant prepayment rate Constant prepayment rate
Range (weighted-average) 6.50% 7.30%
P&I earnings credit [Member] | Mortgage servicing rights [Member]    
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements [Line Items]    
Unobservable inputs P&I earnings credit P&I earnings credit
Range (weighted-average) 4.22% 4.44%
T&I earnings credit [Member] | Mortgage servicing rights [Member]    
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements [Line Items]    
Unobservable inputs T&I earnings credit T&I earnings credit
Range (weighted-average) 4.33% 4.49%
Inflation for cost of servicing [Member] | Mortgage servicing rights [Member]    
Schedule of Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements [Line Items]    
Unobservable inputs Inflation for cost of servicing Inflation for cost of servicing
Range (weighted-average) 3.50% 3.50%
v3.25.1
Disclosures about Fair Value of Assets and Liabilities - Schedule of Fair Values Financial Instruments (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Financial assets    
Cash and due from banks $ 105,145 $ 25,928
Interest bearing time deposits 1,565 1,565
Loans held for sale 4,286 6,770
Loans, net of allowance for credit losses 1,072,883 1,031,639
Federal Reserve and FHLB Bank stock, at cost 5,340 5,223
Interest receivable 5,072 4,908
Financial liabilities    
Deposits 1,271,220 1,152,605
Short-term borrowings 11,058 10,585
FHLB advances 35,000 35,000
Trust preferred securities 10,310 10,310
Subordinated debt, net of issuance costs 19,702 19,690
Interest payable 2,634 2,351
Fair Value [Member]    
Financial assets    
Cash and due from banks 105,145 25,928
Interest bearing time deposits 1,565 1,565
Loans held for sale 4,372 6,861
Loans, net of allowance for credit losses 1,068,405 1,033,064
Federal Reserve and FHLB Bank stock, at cost 5,340 5,223
Interest receivable 5,072 4,908
Financial liabilities    
Deposits 1,271,345 1,155,747
Short-term borrowings 11,058 10,585
FHLB advances 35,047 34,782
Trust preferred securities 9,302 9,495
Subordinated debt, net of issuance costs 18,863 19,155
Interest payable 2,634 2,351
Level 1 [Member]    
Financial assets    
Cash and due from banks 105,145 25,928
Interest bearing time deposits
Loans held for sale
Loans, net of allowance for credit losses
Federal Reserve and FHLB Bank stock, at cost
Interest receivable
Financial liabilities    
Deposits 991,944 893,388
Short-term borrowings
FHLB advances
Trust preferred securities
Subordinated debt, net of issuance costs
Interest payable
Level 2 [Member]    
Financial assets    
Cash and due from banks
Interest bearing time deposits 1,565 1,565
Loans held for sale 4,372 6,861
Loans, net of allowance for credit losses
Federal Reserve and FHLB Bank stock, at cost 5,340 5,223
Interest receivable 5,072 4,908
Financial liabilities    
Deposits 279,401 262,359
Short-term borrowings 11,058 10,585
FHLB advances 35,047 34,782
Trust preferred securities 9,302 9,495
Subordinated debt, net of issuance costs 18,863 19,155
Interest payable 2,634 2,351
Level 3 [Member]    
Financial assets    
Cash and due from banks
Interest bearing time deposits
Loans held for sale
Loans, net of allowance for credit losses 1,068,405 1,033,064
Federal Reserve and FHLB Bank stock, at cost
Interest receivable
Financial liabilities    
Deposits
Short-term borrowings
FHLB advances
Trust preferred securities
Subordinated debt, net of issuance costs
Interest payable
v3.25.1
Share Based Compensation (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Share Based Compensation [Line Items]    
Option award vesting period 5 years  
Contractual terms 10 years  
Stock options outstanding  
Unrecognized Tax Benefits  
Stock options granted  
Compensation cost charged against income $ 0.2 $ 0.2
Total unrecognized compensation cost $ 0.8  
Weighted average term 1 year 10 months 24 days  
2017 Stock Incentive Plan [Member]    
Share Based Compensation [Line Items]    
Number of shares available for grants 500,000  
Number of shares granted 205,743  
v3.25.1
Share Based Compensation - Schedule of Summary of Restricted Stock Activity (Details) - Restricted Stock [Member]
shares in Thousands
 3 Months Ended
Mar. 31, 2025
$ / shares
shares
Schedule of Summary of Restricted Stock Activity [Line Items]  
Shares, Nonvested Beginning Balance | shares 54,311
Weighted- Average Value per Share, Nonvested Beginning Balance | $ / shares $ 17.15
Shares, Granted | shares 21,003
Weighted- Average Value per Share, Granted | $ / shares $ 23.43
Shares, Vested | shares (23,234)
Weighted- Average Value per Share, Vested | $ / shares $ 17.67
Shares, Forfeited | shares (4,716)
Weighted- Average Value per Share, Forfeited | $ / shares $ 17.65
Shares, Nonvested Ending Balance | shares 47,364
Weighted- Average Value per Share, Nonvested Ending Balance | $ / shares $ 19.63
v3.25.1
Operating Segments (Details)
 3 Months Ended
Mar. 31, 2025
Operating Segments [Line Items]  
Operating segment 1
Reportable segment 1
Chief Executive Officer [Member]  
Operating Segments [Line Items]  
Reportable segment 1