Document and Entity Information - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Mar. 10, 2025 |
Jun. 30, 2024 |
|
| Cover [Abstract] | |||
| Document Type | 10-K | ||
| Amendment Flag | false | ||
| Document Period End Date | Dec. 31, 2024 | ||
| Document Fiscal Year Focus | 2024 | ||
| Document Fiscal Period Focus | FY | ||
| Current Fiscal Year End Date | --12-31 | ||
| Entity Well-known Seasoned Issuer | No | ||
| Entity Registrant Name | CSB BANCORP INC /OH | ||
| Trading Symbol | CSBB | ||
| Entity Central Index Key | 0000880417 | ||
| Entity Current Reporting Status | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Interactive Data Current | Yes | ||
| Entity Filer Category | Non-accelerated Filer | ||
| Entity Small Business | true | ||
| Entity Emerging Growth Company | false | ||
| Entity Shell Company | false | ||
| Document Financial Statement Error Correction [Flag] | false | ||
| Title of 12(g) Security | Common Shares, $6.25 par value | ||
| Security Exchange Name | NONE | ||
| Entity Common Stock, Shares Outstanding | 2,641,847 | ||
| Entity Public Float | $ 97.1 | ||
| Entity File Number | 000-21714 | ||
| Entity Incorporation, State or Country Code | OH | ||
| Entity Tax Identification Number | 34-1687530 | ||
| Entity Address, Address Line One | 91 North Clay Street | ||
| Entity Address, City or Town | Millersburg | ||
| Entity Address, State or Province | OH | ||
| Entity Address, Postal Zip Code | 44654 | ||
| City Area Code | 330 | ||
| Local Phone Number | 674-9015 | ||
| Document Annual Report | true | ||
| Document Transition Report | false | ||
| ICFR Auditor Attestation Flag | false | ||
| Auditor Firm ID | 74 | ||
| Auditor Name | S.R. Snodgrass, P.C. | ||
| Auditor Location | Cranberry Township, PA | ||
| Auditor Opinion | Opinion on the Financial Statements
We have audited the accompanying consolidated balance sheets of CSB Bancorp, Inc. and subsidiaries (the “Company”) as of December 31, 2024 and 2023; the related consolidated statements of income, comprehensive income, changes in shareholders’ equity, and cash flows for the years then ended; and the related notes to the consolidated financial statements (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America. |
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| Documents Incorporated by Reference | Portions of CSB Bancorp Inc.’s Proxy Statement for the 2025 Annual Meeting of Shareholders are incorporated by reference in Part III of this Form 10-K. |
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Held-to-maturity, fair value | $ 172,603 | $ 194,730 |
| Held-to-maturity, credit loss allowance | $ 0 | $ 0 |
| Common stock, par value | $ 6.25 | $ 6.25 |
| Common stock, authorized shares | 9,000,000 | 9,000,000 |
| Common stock, shares issued | 2,980,602 | 2,980,602 |
| Common stock, shares outstanding | 2,650,089 | 2,669,938 |
| Treasury Stock, Shares | 330,513 | 310,664 |
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Statement of Comprehensive Income [Abstract] | ||
| Net Income (Loss) | $ 10,012 | $ 14,756 |
| Other comprehensive income | ||
| Unrealized gain on available-for-sale securities arising during the period | 2,166 | 3,168 |
| Amortization of held-to-maturity discount resulting from transfer | 176 | 187 |
| Income tax effect at 21% | (492) | (706) |
| Other comprehensive income | 1,850 | 2,649 |
| Total comprehensive income | $ 11,862 | $ 17,405 |
Consolidated Statements of Comprehensive Income (Parenthetical) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Statement of Comprehensive Income [Abstract] | ||
| Income tax rate | 21.00% | 21.00% |
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands |
Total |
Cumulative Effect of Adoption [Memnber] |
Common Stock [Member] |
Additional Paid-In Capital [Member] |
Retained Earnings [Member] |
Retained Earnings [Member]
Cumulative Effect of Adoption [Memnber]
|
Treasury Stock [Member] |
Accumulated Other Comprehensive Loss [Member] |
|---|---|---|---|---|---|---|---|---|
| Balance at Dec. 31, 2022 | $ 95,920 | $ 52 | $ 18,629 | $ 9,815 | $ 86,502 | $ 52 | $ (6,107) | $ (12,919) |
| Accounting Standards Update [Extensible Enumeration] | Accounting Standards Update 2016-13 [Member] | |||||||
| Net Income (Loss) | $ 14,756 | 14,756 | ||||||
| Other comprehensive income | 2,649 | 2,649 | ||||||
| Purchase of treasury shares | (1,425) | (1,425) | ||||||
| Cash dividends declared | (4,013) | (4,013) | ||||||
| Balance at Dec. 31, 2023 | 107,939 | 18,629 | 9,815 | 97,297 | (7,532) | (10,270) | ||
| Net Income (Loss) | 10,012 | 10,012 | ||||||
| Other comprehensive income | 1,850 | 1,850 | ||||||
| Purchase of treasury shares | (762) | (762) | ||||||
| Cash dividends declared | (4,204) | (4,204) | ||||||
| Balance at Dec. 31, 2024 | $ 114,835 | $ 18,629 | $ 9,815 | $ 103,105 | $ (8,294) | $ (8,420) |
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Statement of Stockholders' Equity [Abstract] | ||
| Purchase of treasury shares, shares | 19,849 | 37,638 |
| Cash dividends declared per share | $ 1.58 | $ 1.5 |
Cybersecurity Risk Management, Strategy, and Governance |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | ITEM 1C. CYBERSECURITY In the ordinary course of business, CSB relies on electronic communications and information systems to conduct its operations and to store sensitive data. CSB employs an in-depth, layered, defensive approach that leverages people, processes and technology to manage and maintain cybersecurity controls. CSB employs a variety of preventative and detective tools to monitor, block, and provide alerts regarding suspicious activity, as well as to report on any suspected advanced persistent threats. CSB Places a high priority and focus on securing the confidential information it receives and stores about its customers and associates and providing highly available systems.
Governance Our Information Security (“IS”) Program consists of policies, procedures and guidelines to ensure the security, availability, and confidentiality of systems and customer information. The IS Program is led by our Information Security Officer (“ISO”) under the direction of the Chief Information Officer (“CIO”) and is subject to oversight by our IT Steering Committee. The IT Steering Committee is a cross-functional management committee with overall responsibilities for identifying and approving the IT Strategic plan, identifying and approving strategic technology based initiatives that improve/enhance the security posture and mitigation efforts of cybersecurity threats, monitoring of the technology infrastructure and systems, monitoring critical vendors, monitoring cybersecurity threats and issues, and conducting, reviewing, and monitoring IT based risk assessments. These efforts include the framework used to identify and prevent cyberattacks or breaches. The IT Steering Committee makes recommendations for approval of certain risk assessments, risk frameworks, and appropriate application of mitigation strategies and frameworks to the Board of Directors.
The Board of Directors oversees the IS Program in the following ways: (a) monitors and oversees the Company’s business and information technology operations necessary for its business plan, including projected growth, technology capacity, planning, operational execution, product development and management capacity, (b) reviews the Company’s framework(s) to prevent, detect, and respond to cyberattacks or breaches, as well as identifying areas of concern regarding possible vulnerabilities, and reviews policies pertaining to information security and cyber threats, taking into account the potential for external threats, internal threats, and threats arising from transaction and contractual relationships with trusted third party vendors, and (c) reviews the Company’s incident response, business continuity and disaster recovery planning and preparedness including processes, policies and procedures that are related to preparing for recovery or continuation of technology infrastructure which are vital to the Company. As part of the Board’s oversight, the Board receives frequent reports from the CIO and ISO including the summarization of new and emerging cybersecurity threats and trends and the effectiveness of our IS Program in mitigating cybersecurity threats among other items. In the event of an information security incident, our Incident Response Plan clarifies the steps for escalation according to the severity of the event.
The IS team is staffed primarily with internal associates, and we utilize third party service providers for extended coverage. We hire IS team members that have relevant information security experience or technology certifications and knowledge to implement and oversee the procedures and processes of our IS Program and to adequately manage and enforce our policies and procedures. Further, management involved in the cybersecurity process, possess the necessary skills and expertise to adequately manage and enforce our policies and procedures.
While all vendors are subject to our vendor management process, those with access to our data and data centers are subject to more rigorous initial and ongoing due diligence. This includes the reviews of Service Organization Control 2 ("SOC 2") reports, financial information, and other policies and procedures related to such third-party vendors and their various programs, including vendor management.
Risk Management and Strategy As part of the ongoing maintenance and development of our IS Program, we assess the various risks associated with the unauthorized access or loss of client information and the quality of security controls as prescribed by the Federal Financial Institutions Examinations Council and several other frameworks. The frameworks and our IS risk assessments are utilized to monitor and develop strategies to minimize risk to our information assets.
Our systems are monitored 24/7 for cybersecurity threats, and we utilize a variety of tools to reduce the risk of data breaches and cybersecurity events. We maintain an Incident Response Plan that outlines the steps to be taken in the event of an incident, which could include a potential or actual data breach. The plan identifies a designated team, including associates and third-party experts, responsible for incident response and summarizes the steps, including escalation protocol, for determining whether an event has occurred and the nature and scope of the event (if applicable). The plan also summarizes protocol for notifying impacted persons, which may include customers as well as other applicable agencies or persons, including law enforcement and regulatory authorities.
At least annually, we conduct a third-party information security audit focusing on internal and external network security protocols and penetration testing, as well as internally managed ad hoc testing as needed. Simulations and tabletop testing of our business continuity and Incident Response Plans are performed on a routine basis and assist with our associates’ familiarity and preparedness for an event. Any gaps or improvement areas identified by routine testing are addressed in a timely manner to help improve future testing and response.
The processes and controls related to data security are regularly tested by the IS department and Internal Audit. Additional internal security assessments may be performed at the request of the CISO, CIO, the Internal Auditor, Management or our Board. Audit and assessment results are presented to the Audit Committee of the Board, and to the IT Steering Committee.
At least annually, the IS Program, including its effectiveness, is reviewed by the Board. Annually, all associates participate in mandatory training related to the IS Program, including information security and its importance with respect to customer and associate privacy. All associates are required to participate in monthly bank wide phishing tests. Results from these tests are delivered to our Audit Committee of the Board of Directors.
Notwithstanding the strength of CSB’s defensive measures, the threat from cyber-attacks is severe, attacks are sophisticated and increasing in volume, and attackers respond rapidly to changes in defensive measures. While to date, CSB has not detected a significant compromise, significant data loss or any material financial losses related to cybersecurity attacks, CSB’s systems and those of its customers and third-party service providers are under constant threat and it is possible that CSB could experience a significant event in the future. Risks and exposures related to cybersecurity attacks are expected to remain high for the foreseeable future due to the rapidly evolving nature and sophistication of these threats, as well as the expanding use of internet banking, mobile banking and other technology-based products and services by the Company and its customers. |
| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block] | Notwithstanding the strength of CSB’s defensive measures, the threat from cyber-attacks is severe, attacks are sophisticated and increasing in volume, and attackers respond rapidly to changes in defensive measures. While to date, CSB has not detected a significant compromise, significant data loss or any material financial losses related to cybersecurity attacks, CSB’s systems and those of its customers and third-party service providers are under constant threat and it is possible that CSB could experience a significant event in the future. Risks and exposures related to cybersecurity attacks are expected to remain high for the foreseeable future due to the rapidly evolving nature and sophistication of these threats, as well as the expanding use of internet banking, mobile banking and other technology-based products and services by the Company and its customers. |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | The Board of Directors oversees the IS Program in the following ways: (a) monitors and oversees the Company’s business and information technology operations necessary for its business plan, including projected growth, technology capacity, planning, operational execution, product development and management capacity, (b) reviews the Company’s framework(s) to prevent, detect, and respond to cyberattacks or breaches, as well as identifying areas of concern regarding possible vulnerabilities, and reviews policies pertaining to information security and cyber threats, taking into account the potential for external threats, internal threats, and threats arising from transaction and contractual relationships with trusted third party vendors, and (c) reviews the Company’s incident response, business continuity and disaster recovery planning and preparedness including processes, policies and procedures that are related to preparing for recovery or continuation of technology infrastructure which are vital to the Company. As part of the Board’s oversight, the Board receives frequent reports from the CIO and ISO including the summarization of new and emerging cybersecurity threats and trends and the effectiveness of our IS Program in mitigating cybersecurity threats among other items. |
| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | The IT Steering Committee is a cross-functional management committee with overall responsibilities for identifying and approving the IT Strategic plan, identifying and approving strategic technology based initiatives that improve/enhance the security posture and mitigation efforts of cybersecurity threats, monitoring of the technology infrastructure and systems, monitoring critical vendors, monitoring cybersecurity threats and issues, and conducting, reviewing, and monitoring IT based risk assessments. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | As part of the Board’s oversight, the Board receives frequent reports from the CIO and ISO including the summarization of new and emerging cybersecurity threats and trends and the effectiveness of our IS Program in mitigating cybersecurity threats among other items. |
| Cybersecurity Risk Role of Management [Text Block] | The IS Program is led by our Information Security Officer (“ISO”) under the direction of the Chief Information Officer (“CIO”) and is subject to oversight by our IT Steering Committee.We hire IS team members that have relevant information security experience or technology certifications and knowledge to implement and oversee the procedures and processes of our IS Program and to adequately manage and enforce our policies and procedures.As part of the ongoing maintenance and development of our IS Program, we assess the various risks associated with the unauthorized access or loss of client information and the quality of security controls as prescribed by the Federal Financial Institutions Examinations Council and several other frameworks. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | The IS Program is led by our Information Security Officer (“ISO”) under the direction of the Chief Information Officer (“CIO”) and is subject to oversight by our IT Steering CommitteeFurther, management involved in the cybersecurity process, possess the necessary skills and expertise to adequately manage and enforce our policies and procedures. |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | We hire IS team members that have relevant information security experience or technology certifications and knowledge to implement and oversee the procedures and processes of our IS Program and to adequately manage and enforce our policies and procedures. Further, management involved in the cybersecurity process, possess the necessary skills and expertise to adequately manage and enforce our policies and procedures. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | As part of the Board’s oversight, the Board receives frequent reports from the CIO and ISO including the summarization of new and emerging cybersecurity threats and trends and the effectiveness of our IS Program in mitigating cybersecurity threats among other items. |
| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Pay vs Performance Disclosure - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Pay vs Performance Disclosure | ||
| Net Income (Loss) | $ 10,012 | $ 14,756 |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
Dec. 31, 2024 | |
| 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 |
Insider Trading Policies and Procedures |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Insider Trading Policies and Procedures [Line Items] | |
| Insider Trading Policies and Procedures Adopted | true |
Summary of Significant Accounting Policies |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Significant Accounting Policies | NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CSB Bancorp, Inc. (the “Company” or “CSB”) was incorporated in 1991 in the State of Ohio and is a registered bank holding company. The Company’s wholly owned subsidiaries are The Commercial and Savings Bank of Millersburg, Ohio (the “Bank”) and CSB Investment Services, LLC. The Company, through its subsidiaries, operates in the commercial banking industry. The Bank, an Ohio-chartered bank organized in 1879, provides financial services through its sixteen Banking Centers located in Holmes, Stark, Tuscarawas and Wayne counties and a loan production office in Medina. These communities are the source of a substantial majority of the Bank’s deposit, loan, and trust activities. The majority of the Bank’s income is derived from commercial and retail lending activities, and investments in securities. Its primary deposit products are checking, savings, and term certificate accounts. Its primary lending products are residential real estate, commercial real estate, commercial, and installment loans. Substantially, all loans are secured by specific items of collateral including business assets, consumer assets, and real estate. Commercial loans are expected to be repaid with cash flow from business operations. Real estate loans are secured by both residential and commercial real estate. Significant accounting policies followed by the Company are presented below. BUSINESS SEGMENTS The Company's operations have been evaluated for segment reporting and management has determined operations are managed along two operating segments, consisting of banking operations and trust services. The Company derives its banking operations revenue from business and consumer customers through loan and deposit products. However, these components are not separately reviewed and all expenses are not segregated from the rest of the Company's operations and therefore are not reportable as segments. The Company's chief operating decision maker is the senior management team, which includes the CEO, President, CFO, Chief Risk Officer, Senior Loan Officer and Senior Operations Officer. While the chief operating decision maker uses financial information related to the banking operations and trust services segments to analyze business performance and allocate resources, the trust services segment does not meet the quantitative threshold under GAAP to be considered a reportable segment. Trust services revenue and net income are less than 4% of total Company revenue or net income. As such, these operating segments are aggregated into a single reportable operating segment in the Consolidated Financial Statements. USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS In preparing the Consolidated Financial Statements, in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions affecting the reported amounts of assets and liabilities as of the date of the Consolidated Balance Sheets and reported amounts of revenues and expenses during each reporting period. Actual results could differ from those estimates. The most significant estimates susceptible to change in the near term relate to management’s determination of the allowance for credit losses and the fair value of financial instruments. PRINCIPLES OF CONSOLIDATION The Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. The Bank has a trust department and the assets held by the Bank in fiduciary or agency capacities for its customers are not included in the Consolidated Balance Sheets as such items are not assets of the Bank. CASH AND CASH EQUIVALENTS For purposes of the Consolidated Statements of Cash Flows, cash and cash equivalents include cash on hand and amounts due from banks which mature or within ninety days. DEBT SECURITIES At the time of purchase all debt securities are evaluated and designated as available-for-sale (AFS) or held-to-maturity (HTM). Securities designated as AFS are carried at fair value with unrealized gains and losses on such securities, net of applicable income taxes, recognized as other comprehensive income or loss. HTM securities are recorded at amortized cost. Securities transferred from AFS to HTM are carried at their fair value on the date of transfer. On December 31, 2024, 62% of the total investment portfolio was classified as HTM. The amortized cost of debt securities is adjusted for the accretion of discounts to maturity and the amortization of premiums to the earlier of a bond’s call date or maturity based on the interest method. Such amortization and accretion are included in interest and dividends on securities. Gains and losses on sales of securities are accounted for on a trade date basis, using the specific identification method, and are included in noninterest income.
EQUITY SECURITIES Equity securities are held at fair value. Holding gains and losses are recorded in income. Dividends on equity securities are recognized as income when earned. RESTRICTED STOCK Investments in FHLB and Federal Reserve Bank stock are classified as restricted stock, carried at cost, and evaluated for impairment. The Bank is required to maintain an investment in common stock of the FHLB and Federal Reserve Bank because the Bank is a member of the FHLB and the Federal Reserve System. LOANS Loans that management has the intent and ability to hold for the foreseeable future, until maturity, or pay-off, generally are stated at their outstanding principal amount, adjusted for charge-offs, the allowance for credit losses, and any deferred loan fees or costs on originated loans. Interest is accrued based upon the daily outstanding principal balance. Loan origination fees and certain direct origination costs are capitalized and recognized as an adjustment of the yield over the life of the related loan. Interest income is not reported when full repayment is in doubt, typically when the loan is individually evaluated, or payments are past due over 90 days. All interest accrued but not collected for loans placed on nonaccrual or charged-off is reversed and charged against interest income. The interest on these loans is accounted for on a 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. At origination, a determination is made whether a loan will be held in the Bank’s portfolio or is intended for sale in the secondary market. Mortgage loans held for sale are recorded at the lower of the aggregate cost or fair value. Generally, these loans are held for sale for less than three (3) days. The Bank recognizes gains and losses on sales of the loans held for sale when the sale is completed. ALLOWANCE FOR CREDIT LOSSES The ACL is a valuation reserve established and maintained by charges against operating income and is deducted from the amortized cost basis of loans to present the net amount expected to be collected on the loans. Loans, or portions thereof, are charged off against the ACL when they are deemed uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. The ACL is an estimate of expected credit losses, measured over the contractual life of a loan (adjusted for expected prepayment), that considers our historical loss experience, current conditions and forecasts of future economic conditions. Determination of an appropriate ACL is inherently subjective and may have significant changes from period to period. The methodology for determining the ACL has two main components: evaluation of expected credit losses for certain groups of homogeneous loans that share similar risk characteristics and evaluation of individual loans that do not share risk characteristics with other loans. The ACL for homogeneous loans is calculated using a life-time loss rate methodology with both a quantitative and a qualitative analysis that is applied on a quarterly basis. The ACL model is comprised of eight distinct portfolio segments: 1) Commercial and Industrial or C&I, 2) Commercial Real Estate, or CRE, 3) Commercial Lessors of Buildings, 4) Construction, 5) Consumer Mortgage, 6) Home Equity Line of Credit or HELOC, 7) Consumer Installment, and 8) Consumer Indirect loans. Each segment has a distinct set of risk characteristics monitored by management. Historical credit loss experience is the basis for the estimation of expected credit losses. We apply historical loss rates to pools of loans with similar risk characteristics. After consideration of the historic loss calculation, management applies qualitative adjustments to reflect the current conditions and reasonable and supportable forecasts not already reflected in the historical loss information at the balance sheet date. Our reasonable and supportable forecast adjustment is based on the unemployment forecast and management judgment. For periods beyond our two-year reasonable and supportable forecast, we revert to the historical loss rate. The qualitative adjustments for current conditions are based upon changes in lending policies and practices, change in economic conditions, change in nature of the portfolio, experience and ability of lending staff, problem loan trends, quality of the bank’s loan review system, value of underlying collateral for collateral dependent loans, the existence of and changes in concentrations, and other external factors. These modified historical loss rates are multiplied by the outstanding principal balance of each loan to calculate a required reserve. A similar process is employed to calculate a reserve assigned to the portion of off-balance sheet commitments that we expect to fund, specifically unfunded loan commitments, and any needed reserve is recorded in other liabilities. The ACL for individual loans begins with the use of normal credit review procedures to identify whether a loan no longer shares similar risk characteristics with other pooled loans and therefore, should be individually assessed. We evaluate all commercial loans greater than $500 thousand that meet the following criteria: 1) when it is determined that foreclosure is probable, 2) substandard, doubtful and nonperforming loans when repayment is expected to be provided substantially through the operation or sale of the collateral, and 3) when it is determined by management that a loan does not share similar risk characteristics with other loans. Collateral values are discounted to consider disposal costs when appropriate. A specific reserve is established or a charge-off is taken if the fair value of the loan is less than the loan balance. Although we believe our process for determining the ACL appropriately considers all the factors that would likely result in credit losses, the process includes subjective elements and may be susceptible to significant change. To the extent actual losses are higher than management estimates, additional provision for credit losses could be required and could adversely affect our earnings or financial position in future periods. The ACL for off-balance sheet commitments is estimated on the likelihood and amount of funding under the same criteria used for loans under the ACL. The ACL for off-balance sheet commitments is recorded in other liabilities in the Consolidated Balance Sheets. HTM Securities - Any expected credit loss is recorded through the ACL on HTM securities and is deducted from the amortized cost basis on the balance sheet. The majority of HTM securities are issued by U.S. government entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. Therefore, there is no credit loss expectation on these securities. AFS Securities - The AFS securities portfolio is evaluated on a quarterly basis for indicators of credit loss. Management reviews the amount of unrealized loss, the credit rating history, market trends of similar security classes, time remaining to maturity, and the source of principal and interest payments to identify securities which could potentially have a credit loss. For those securities that management intends to sell before the recovery of their amortized cost basis, the difference between fair value and amortized cost is considered to have a credit loss and is recognized in provision for credit loss expense and the amortized cost is written down to the realizable value through a charge-off. For those AFS securities that management does not intend to sell prior to expected recovery of the amortized cost basis, the credit portion is recognized through the ACL on AFS securities, while the noncredit portion is recognized through the accumulated other comprehensive income or loss included in shareholders' equity. Non-credit related impairment is a result of other factors, including changes in interest rates. OTHER REAL ESTATE OWNED Other real estate acquired through or in lieu of foreclosure is initially recorded at fair value, less estimated costs to sell, and any loan balance in excess of fair value is charged to the allowance for credit losses. Subsequent valuations are periodically performed, and write-downs are included in noninterest expenses, as well as expenses related to maintenance of the properties. Gains or losses upon sale are recorded through noninterest income. There was no other real estate owned on December 31, 2024 or 2023. PREMISES AND EQUIPMENT Premises and equipment are stated at cost, less accumulated depreciation and amortization. Land is carried at cost. Depreciation and amortization are determined based on the estimated useful lives of the individual assets (typically 20 to 40 years for buildings and 3 to 10 years for equipment) and is computed using the straight-line method. Leasehold improvements are amortized over the useful life of the asset, or lease term, whichever is shorter. Expenses for maintenance and repairs are charged against income as incurred. Costs of major additions and improvements are capitalized. GOODWILL Goodwill is not amortized but is tested for impairment at least annually in the fourth quarter or more frequently if indicators of impairment are present. The evaluation for impairment involves comparing the current fair value of the reporting unit to the carrying value, including goodwill. If the current fair value of a reporting unit exceeds the carrying value, no additional testing is required, and an impairment loss is not recorded. The Company uses market capitalization and multiples of tangible book value methods, based on observable bank acquisitions in the state of Ohio, to determine the estimated current fair value of its reporting unit. Based on this analysis no impairment was recorded in 2024 or 2023. MORTGAGE SERVICING RIGHTS Mortgage servicing rights (“MSRs”) represent the right to service loans for third party investors. MSRs are recognized at fair value as a separate asset upon the sale of mortgage loans to a third-party investor with the servicing rights retained by the Company. Originated MSRs are recorded at allocated fair value at the time of the sale of the loans to the third-party investor. MSRs are amortized in proportion to and over the estimated period of net servicing income. MSRs are carried at amortized cost, less a valuation allowance for impairment, if any. MSRs are evaluated on a discounted earnings basis to determine the present value of future earnings of the underlying serviced mortgages. All assumptions are reviewed annually, or more frequently if necessary, and adjusted to reflect current and anticipated market conditions. BANK-OWNED LIFE INSURANCE The cash surrender value of bank-owned life insurance policies is included as an asset on the Consolidated Balance Sheets and any increases in the cash surrender value are recorded as noninterest income on the Consolidated Statements of Income. In the event of the death of an individual insured under these policies, the Company would receive a death benefit, which would be recorded as noninterest income. REPURCHASE AGREEMENTS Substantially all securities sold under repurchase agreements represent amounts advanced by various customers. Securities owned by the Bank are pledged to secure those obligations. Repurchase agreements are not deposits and are not covered by federal deposit insurance. ADVERTISING COSTS All advertising costs are expensed as incurred. Advertising expenses amounted to $187 thousand, $196 thousand for the years ended 2024 and 2023, respectively. FEDERAL INCOME TAXES The Company and its subsidiaries file a consolidated federal tax return. Deferred income taxes are recorded on temporary differences between financial statement and income tax reporting. Temporary differences are differences between the amounts of assets and liabilities reported for financial statement purposes and their respective tax bases. Deferred tax assets are recognized for temporary differences deductible in future years’ tax returns and for operating loss and tax credit carry forwards. Deferred tax assets are reduced by a valuation allowance if it is deemed more likely than not that some or all of the deferred tax assets will not be realized. Deferred tax liabilities are recognized for temporary differences taxable in future years’ tax returns. The Bank, domiciled in Ohio, is not currently subject to state and local income taxes. COMPREHENSIVE INCOME The Company includes recognized revenue, expenses, gains, and losses in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the Consolidated Balance Sheets, net of tax, these items along with net income are components of comprehensive income. The unrealized loss on securities transferred from AFS to HTM at the date of transfer, is amortized over the remaining life of the securities as part of comprehensive income. TRANSFERS OF FINANCIAL ASSETS Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions constraining it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. PER SHARE DATA Earnings per share is computed based on the weighted average number of shares of common stock outstanding during each year. The company currently maintains a simple capital structure, thus, there are no dilutive effects on earnings per share. The weighted average number of common shares outstanding for earnings per share computations was as follows:
SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date these financial statements were issued. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic740): Improvements to Income Tax Disclosure. This new guidance is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this Update address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This Update also includes certain other amendments to improve the effectiveness of income tax disclosures. It is effective for public business entities for annual periods beginning after December 15, 2024. This update is not expected to have a significant impact on the Company's financial statements. ACCOUNTING PRONOUNCEMENTS ADOPTED IN 2024 In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments' significant expenses on an interim and annual basis. This ASU became effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Public entities are required to adopt the changes retrospectively, recasting each prior-period disclosure for which a comparative income statement is presented in the period of adoption. Upon adoption the Company expanded its disclosures regarding reportable segments, which are included above in Note 1 to the Consolidated Financial Statements. RECLASSIFICATION OF COMPARATIVE AMOUNTS Certain comparative amounts from the prior years have been reclassified to conform to current year classifications. Such classifications had no effect on net income or shareholders’ equity. |
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Securities |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Securities | NOTE 2 – SECURITIES Securities consisted of the following on December 31:
The amortized cost and fair value of debt securities on December 31, 2024, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
Securities with a carrying value of approximately $134 million and $126 million were pledged on December 31, 2024, and 2023 respectively, to secure public deposits, as well as other deposits and borrowings as required or permitted by law. Restricted stock primarily consists of investments in FHLB and Federal Reserve Bank stock. The Bank’s investment in FHLB stock amounted to $1.0 million on December 31, 2024, and 2023. Federal Reserve Bank stock was $471 thousand on December 31, 2024, and 2023. There were no proceeds from sales of debt securities for the years ended December 31, 2024 and 2023. Unrealized gains recognized on equity securities on the consolidated statements of income were $8 thousand and $15 thousand, respectively for the years ended December 31, 2024 and 2023. The Bank monitors the credit quality of held-to-maturity debt securities primarily through utilizing their credit rating. The Bank monitors the credit rating on a quarterly basis. There are no nonperforming held-to-maturity securities. As of December 31, 2024, no ACL was required for any held-to-maturity security. The majority of the securities are explicitly or implicitly guaranteed by the United States government, and any estimate of expected credit losses would be insignificant to the Bank. The following table summarizes the amortized cost of held-to maturity debt securities at December 31, 2024, aggregated by credit quality indicator:
The following table presents gross unrealized losses, fair value of securities, aggregated by investment category, and length of time individual available-for-sale securities have been in a continuous unrealized loss position, on December 31 2024 and 2023:
There were 112 available-for-sale securities in an unrealized loss position on December 31, 2024, 104 of which were in a continuous loss position for twelve (12) months or more. Each quarter the Company conducts a comprehensive security-level impairment assessment on the securities portfolio. Management believes the Company will fully recover the cost of these securities. Unrealized losses on the Company’s fixed-rate debt securities are a result of interest rate increases. U.S. Treasury securities and investments in securities of U.S. government sponsored agency bonds comprise $82 million of total AFS securities. The remaining $43 million of non-agency debt securities is made up of Corporate Bonds and debt securities of State and Political Subdivisions. For non-agency debt securities, the Company verified the current credit ratings remain above investment grade. Non-rated debt securities total $10 million. Annually, management reviews the credit profile of each non-rated issue and assesses whether any impairment to the contractually obligated cash flow is likely to occur. Based on these reviews, management has concluded the underlying creditworthiness for each security remains sufficient to maintain required payment obligations and, therefore, no allowance for credit losses has been recorded. Management believes the value will recover as the securities approach maturity or market interest rates decline. |
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Loans |
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| Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans | NOTE 3 – LOANS Loans consisted of the following on December 31:
Loan Origination/Risk Management The Company has certain lending policies and procedures in place designed to maximize loan income within an acceptable level of risk. Management reviews and the Board of Directors approves these policies and procedures on a regular basis. A reporting system supplements the review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies, and non-performing and potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations in economic conditions. Commercial and industrial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand their business. Underwriting standards are designed to promote relationship banking rather than transactional banking. The Company’s management examines current and occasionally projected cash flows to determine the ability of the borrower to repay their obligations as agreed. Commercial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. However, the cash flows of borrowers 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 generally incorporate a personal guarantee; however, some 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 loans are subject to underwriting standards and processes similar to commercial and industrial loans, in addition to those of real estate loans. These 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 largely 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 adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s commercial real estate portfolio are diverse in terms of type. This diversity helps reduce the Company’s exposure to adverse economic events that affect any single industry. Management monitors and evaluates commercial real estate loans based on collateral, geography, and risk grade criteria. With respect to loans to developers and builders secured by non-owner occupied properties, the Company generally requires the borrower to have had an existing relationship with the Company and have a proven record of success. Construction and land development loans are underwritten utilizing independent appraisal reviews, lease rates, and financial analysis of developers and property owners. Construction and land development loans are generally based upon estimates of costs and value associated with the completed project. These estimates may be inaccurate. Construction and land development loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the 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 permanent financing from the Company. These loans are closely monitored by on-site inspections and are considered to have higher risk 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. The Company originates consumer loans utilizing a judgmental underwriting process. Policies and procedures are developed and modified, as needed, by management to monitor and manage consumer loan risk. This activity, coupled with relatively small loan amounts spread across many individual borrowers, minimizes risk. The Company engages an independent loan review vendor that reviews and validates the credit risk program on a periodic basis. Results of these reviews are presented to management and the Audit Committee. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures. Concentrations of Credit Nearly all the Company’s lending activity occurs within the State of Ohio, including the five counties of Holmes, Medina, Stark, Tuscarawas, and Wayne, as well as surrounding counties. The majority of the Company’s loan portfolio consists of commercial and industrial and commercial real estate loans. Credit concentrations, including commitments, as determined using North American Industry Classification Codes (NAICS), to the three largest industries compared to total loans at December 31, 2024, included $77 million, or 10% of total loans to lessors of non-residential buildings; $37 million, or 5%, of total loans to animal food producers; and $30 million, or 4% of total loans to construction, and equipment rental and leasing. The Company has less than 2% of total loans outstanding to loans secured by commercial office space. These loans are generally secured by real property and equipment, with repayment expected from operational cash flow. Credit evaluation is based on a review of cash flow coverage of principal and interest payments, and the adequacy of the collateral received. The top ten collateral exposures in commercial real estate and commercial lessors of buildings at December 31, 2024 are as follows: Industrial, manufacturing and production $56 million; warehouse $39 million; healthcare facilities $27 million; residential investment property $27 million; retail strip center $17 million; auto repair $15 million; retail store $13 million; senior housing $12 million; hotels $11 million; nonfarm/nonresidential $10 million. Allowance for Credit Losses The following table details activity in the allowance for credit losses ("ACL") by portfolio segment for the years ended December 31, 2024, and 2023. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. During 2024, the increase in the provision for credit loss expense for commercial and industrial and commercial real estate loans was primarily related to one loan relationship which is in process of court liquidation. This relationship has been charged down by $6.2 million which resulted in an increase in the historical loss rates applied to the loans in each of these categories. The decrease in the provision for consumer mortgages and home equity loans was primarily due to the stable economy and collateral values, with very few historical losses in these categories. The increase in the provision for consumer installment and consumer indirect loans is due to the increase in historical losses in this portfolio. During 2023, ACL balances were affected by the adoption of ASC 326 which changed the methodology for calculating the allowance for credit losses. These changes resulted in the addition of three new loan categories. In addition to the new methodology changes, the decrease in the commercial real estate provision was primarily related to the payoff of one large loan relationship with a specific allocation and the improvement of other specifically evaluated loans. The decrease in the provision for commercial and industrial loans was primarily due to the recovery of a prior loan charge off. The increase in the provision for commercial lessors of buildings relates to the increase in loans graded special mention. The increase in provision for consumer mortgages primarily relates to increased loan volume. The increase in the consumer indirect category is due to the increase in charge-offs in this portfolio. Summary of Allowance for Credit Losses on Loans The following table details activity in the allowance for credit losses on loans during the year ended December 31:
Age Analysis of Past-Due Loans Receivable and Nonperforming Loans The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past-due status.
The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing interest as of December 31:
Interest income recognized on nonaccrual loans as of December 31, 2024 was $6 thousand on commercial real estate loans, $33 thousand on consumer mortgage loans, and $2 thousand on commercial & industrial loans. Several consumer mortgage loans on nonaccrual are at an amortized cost basis of $0 and all payments are being recognized as interest income when received. Collateral-Dependent Financial Assets When loan repayment is expected to be provided substantially through the operation or sale of collateral and the borrower is experiencing financial difficulty, expected credit losses are based on the fair value of the collateral. The class of loan represents the primary collateral type associated with the loan. There were no collateral dependent loans as of December 31, 2023. The following table presents the amortized cost basis of collateral dependent loans by class of loan:
Credit Quality Indicators The Company categorizes commercial and commercial real estate 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 commercial and commercial real estate loans individually by classifying the loans as to credit risk. This analysis includes commercial loans with an outstanding exposure balance greater than $500 thousand. This analysis is performed on an annual basis. The Company uses the following definitions for risk ratings: Pass. Loans classified as pass (Cash Secured, Exceptional, Acceptable, Monitor or Pass Watch) may exhibit a wide array of characteristics but at a minimum represent an acceptable risk to the Bank. Borrowers in this rating may have leveraged but acceptable balance sheet positions, satisfactory asset quality, stable to favorable sales and earnings trends, acceptable liquidity, and adequate cash flow. Loans are considered fully collectable and require an average amount of administration. While generally adhering to credit policy, these loans may exhibit occasional exceptions that do not result in undue risk to the Bank. Borrowers are generally capable of absorbing setbacks, financial and otherwise, without the threat of failure. Special Mention. Loans classified as special mention have a material weakness deserving of management’s close attention. If left uncorrected, these weaknesses may result in deterioration of the repayment prospects for the loan or of the Bank’s credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses jeopardizing the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Doubtful. 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 currently existing facts, conditions, values, highly questionable, and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered to be pass rated loans. Based on the most recent analysis performed, the following tables present the recorded investment in non-homogeneous loans by internal risk rating system:
1 Balances include $1.9 million USDA guarantee. 2 Balances include $16.4 million USDA guarantee.
The Company monitors the credit risk profile by payment activity for the loan classes listed below. Loans past due 90 days or more and loans on nonaccrual status are considered nonperforming. The following table presents the amortized cost in residential consumer loans based on payment activity:
Consumer mortgages are substantially secured by one to four family owner occupied properties and consumer indirect loans are substantially secured by recreational vehicles. All nonperforming consumer loans are evaluated when placed on nonaccrual status and may be charged down based on the fair value of the collateral less cost to sell, if that value is lower than the outstanding balance.
Modifications to Borrowers Experiencing Financial Difficulty Occasionally, the Bank modifies loans to borrowers in financial distress by providing principal forgiveness, term extension, and other-than-insignificant payment delay or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit losses. In some cases, the Bank may provide multiple types of concessions on one loan. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. There were no modifications of loans to borrowers in financial distress completed during the year ended December 31, 2024 and 2023.
Real Estate Loans in Foreclosure There was no other real estate owned on December 31, 2024, or 2023. Mortgage loans in the process of foreclosure were $74 thousand on December 31, 2024 and $8 thousand on December 31, 2023. Repossessed assets were $14 thousand on December 31, 2024, and there were no repossessed assets on December 31, 2023.
Mortgage Servicing Rights For the years ended December 31, 2024 and 2023, the Company had outstanding MSRs of $621 thousand and $600 thousand, respectively. The capitalized additions of servicing rights are included in net gain on sale of loans on the Consolidated Statements of Income. No valuation allowance was recorded on December 31, 2024 or 2023, as the fair value of the MSRs approximates their carrying value. On December 31, 2024, the Company had $122 million residential mortgage loans sold with servicing retained as compared to $124 million sold with servicing retained on December 31, 2023. Total loans serviced for others including commercial loans, approximated $136 million and $132 million on December 31, 2024, and 2023, respectively. The following summarizes mortgage servicing rights capitalized and amortized during each year:
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Premises and Equipment |
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| Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Premises and Equipment | NOTE 4 – PREMISES AND EQUIPMENT Premises and equipment consisted of the following on December 31:
Depreciation expense amounted to $879 thousand and $826 thousand for the years ended December 31, 2024, and 2023, respectively. |
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Leases |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | NOTE 5 – LEASES Operating leases in which the Company is the lessee are recorded as operating lease Right of Use (“ROU”) assets and operating lease liabilities, included in other assets and other liabilities, respectively, on the consolidated balance sheets. The Company does not currently have any finance leases. Operating lease ROU assets represent the right to use an underlying asset during the lease term and operating lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease expense, which is comprised of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term and is recorded in occupancy and equipment expense in the Consolidated Statements of Income. The leases relate to bank branches with remaining lease terms of generally 2 to 5 years. Certain lease arrangements contain extension options which are typically 2 to 5 years at the then fair market rental rates. If these extension options are considered reasonably certain of exercise, they are included in the lease term.
As of December 31, 2024, assets were $203 thousand, and lease were $196 thousand. These amounts are included in other assets and other liabilities on the Consolidated Balance Sheets. For the years ended December 31, 2024, and 2023, CSB recognized $123 thousand, and $112 thousand in operating lease cost respectively, which are included in occupancy expense on the Consolidated Statements of Income. The following table summarizes other information related to our operating leases:
The following table presents aggregate lease maturities and obligations:
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| Interest-Bearing Deposits | NOTE 6 – INTEREST-BEARING DEPOSITS Interest-bearing deposits on December 31 were as follows:
On December 31, 2024, stated maturities of time deposits were as follows:
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Borrowings |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Borrowings | NOTE 7 – BORROWINGS Short-term borrowings Short-term borrowings include overnight repurchase agreements, federal funds purchased, and short-term advances through the FHLB. The outstanding balances and related information for short-term borrowings are summarized as follows:
Average balances outstanding during the year represent daily average balances; average interest rates represent interest expense divided by the related average balances. The following table provides additional detail regarding the collateral pledged to secure repurchase agreements accounted for as secured borrowings:
Other borrowings The following table sets forth information concerning other borrowings:
Maturities of other borrowings on December 31, 2024, are summarized as follows for the years ended December 31:
Monthly principal and interest payments, as well as 20% principal curtailments on the borrowings’ anniversary dates are due on the fixed-rate amortizing borrowings. FHLB borrowings are secured by a blanket collateral agreement on all one-to-four family residential real estate loans. On December 31, 2024, the Company had the capacity to borrow an additional $126 million from the FHLB. |
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Income Taxes |
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| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | NOTE 8 – INCOME TAXES Income tax expense was as follows:
Effective tax rates were 18.8% and 19.7% for 2024 and 2023 and differ from the federal statutory rate of 21% applied to income before taxes due to the following:
The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities on December 31 were as follows:
There is currently no liability for uncertain tax positions and no known unrecognized tax benefits. The Company recognizes, when applicable, interest and penalties related to unrecognized tax benefits in the provision for income taxes in the Consolidated Statements of Income. With few exceptions, the Company is no longer subject to U.S. federal, state, or local income tax examinations by tax authorities for years prior to 2021. |
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Employee Benefits |
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Dec. 31, 2024 | |
| Retirement Benefits [Abstract] | |
| Employee Benefits | NOTE 9 – EMPLOYEE BENEFITS The Company sponsors a contributory 401(k) profit-sharing plan (the “Plan”) covering substantially all employees who meet certain age and service requirements. The Plan permits investment in the Company’s common stock subject to various limitations and provides for discretionary profit sharing and matching contributions. The discretionary profit-sharing contribution is determined annually by the Board of Directors and amounted to 2.25% in 2024 and 3.25% in 2023 of each eligible participant’s compensation. The Plan provides for a 100% Company match up to a maximum of 4% of eligible compensation. The Company auto enrolls all eligible new hires into the Plan. Expense under the Plan amounted to approximately $520 thousand and $809 thousand for 2024 and 2023, respectively. The Company sponsors a deferred compensation plan covering eligible officers. Expense under the plan amounted to $7 thousand and $6 thousand in 2024 and 2023, respectively. |
Financial Instruments with Off-Balance Sheet Risk |
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||
| Financial Instruments with Off-Balance Sheet Risk | NOTE 10 – FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK The Bank is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments are primarily loan commitments to extend credit and letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amounts recognized in the Consolidated Balance Sheets. The contract amount of these instruments reflects the extent of involvement the Bank has in these financial instruments. The Bank’s exposure to credit loss in the event of the nonperformance by the other party to the financial instruments for loan commitments to extend credit and letters of credit is represented by the contractual amounts of these instruments. The Bank uses the same credit policies in making loan commitments as it does for on-balance sheet loans. The following financial instruments whose contract amount represents credit risk were outstanding on December 31:
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Consumer commitments generally have fixed expiration dates and commercial commitments are generally due on demand and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. The Company evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral, obtained if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the customer. Collateral held varies, but may include residential real estate, accounts receivable, recognized inventory, property, plant and equipment, and income-producing commercial properties. Letters of credit are written conditional commitments issued by the Company to guarantee the performance of a customer to a third party and are reviewed for renewal at expiration. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. The Company requires collateral supporting these commitments when deemed appropriate. The Company had $524 thousand allowance for credit losses for unfunded loan commitments as of December 31, 2024, and $736 thousand as of December 31,2023. The decrease in the ACL for unfunded loan commitments was primarily due the removal of a specific allocation to a substandard relationship that is no longer outstanding and a decrease in unfunded commitments on commercial construction loans as of December 31, 2024. |
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Related-Party Transactions |
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| Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related-Party Transactions | NOTE 11 – RELATED-PARTY TRANSACTIONS In the ordinary course of business, loans are made by the Bank to executive officers, directors, their immediate family members, and their related business interests consistent with Federal Reserve Regulation O, SEC Regulation S-X, and GAAP definition of related parties. The following is an analysis of activity of related-party loans for the years ended December 31:
Deposits from executive officers, directors, their immediate family members, and their related business interests on December 31, 2024, and 2023 were approximately $18.4 million and $9.3 million. |
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Regulatory Matters |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Regulatory Matters | NOTE 12 – REGULATORY MATTERS The Company (on a consolidated basis) and Bank are subject to various regulatory capital requirements administered by the federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and Bank’s financial performance. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Bank must meet specific capital guidelines involving quantitative measures of the assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Company and Bank to maintain minimum amounts and ratios (set forth in the following table) of Total capital, Tier 1 capital and Common equity tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital to average assets (as defined). Management believes as of December 31, 2024 and 2023, the Company and Bank met or exceeded all capital adequacy requirements to which they are subject. As of December 31, 2024, the most recent notification from federal and state banking agencies categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized” an institution must maintain minimum Total risk-based, Tier 1 risk-based, Common equity Tier 1, and Tier 1 leverage ratios as set forth in the following tables. There are no known conditions or events since that notification that Management believes have changed the Bank’s category. The actual capital amounts and ratios of the Company and Bank as of December 31 are presented in the following tables:
The Company’s primary source of funds with which to pay dividends, are dividends received from the Bank. The payment of dividends by the Bank to the Company is subject to restrictions by its regulatory agencies. These restrictions generally limit dividends to current year net income and prior two-years’ net retained earnings. Also, dividends may not reduce capital levels below the minimum regulatory requirements disclosed in the prior table. Under these provisions, on January 1, 2025, the Bank could dividend $24.3 million to the Company. The Company does not anticipate the financial need to obtain regulatory approval to pay dividends. Federal law prevents the Company from borrowing from the Bank unless loans are secured by specific obligations. Further, such secured loans are limited to an amount not exceeding ten percent of the Bank’s common stock and capital surplus. |
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Condensed Parent Company Financial Information |
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| Condensed Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Parent Company Financial Information | NOTE 13 – CONDENSED PARENT COMPANY FINANCIAL INFORMATION A summary of condensed financial information of the parent company as of December 31, 2024, and 2023, and for each of the two years in the period ended December 31, 2024, follows:
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Fair Value Measurements |
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| Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | NOTE 14 – FAIR VALUE MEASUREMENTS The Company provides disclosures about assets and liabilities carried at fair value. The framework provides a fair value hierarchy prioritizing the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and lowest priority to unobservable inputs. The three broad levels of the fair value hierarchy are described below:
The following table presents the assets reported on the consolidated statements of financial condition at their fair value on a recurring basis as of December 31, 2024, and December 31, 2023, by level within the fair value hierarchy. No liabilities were carried at fair value. As required by the accounting standards, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Equity securities with readily determinable values and U.S. Treasury Notes are valued at the closing price reported on the active market on which the individual securities are traded. Obligations of U.S. government agencies, mortgage-backed securities, asset-backed securities, obligations of states and political subdivisions and corporate bonds are valued at observable market data for similar assets. Equity securities without readily determinable values are carried at amortized cost, adjusted for impairment and observable price changes.
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Fair Values of Financial Instruments |
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| Investments, All Other Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Values of Financial Instruments | NOTE 15 – FAIR VALUES OF FINANCIAL INSTRUMENTS The estimated fair values of recognized financial instruments carried at amortized cost as of December 31 were as follows:
Other financial instruments carried at amortized cost include cash and cash equivalents, restricted stock, bank-owned life insurance, accrued interest receivable, short-term borrowings, and accrued interest payable, all of which have a level 1 fair value that approximates their carrying value. |
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Accumulated Other Comprehensive Loss |
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| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Loss | NOTE 16 – ACCUMULATED OTHER COMPREHENSIVE LOSS The following table presents the changes in accumulated other comprehensive loss by component net of tax for the years ended December 31, 2024, and 2023:
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Contingent Liabilities |
12 Months Ended |
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Dec. 31, 2024 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Contingent Liabilities | NOTE 17 – CONTINGENT LIABILITIES In the normal course of business, the Company is subject to pending and threatened legal actions. Although, the Company is not able to predict the outcome of such actions, after reviewing pending and threatened actions, management believes that the outcome of any or all such actions will not have a material adverse effect on the results of operations or shareholders’ equity of the Company. The Company has an employment agreement with an officer. Upon the occurrence of certain types of termination of employment, the Company may be required to make specified severance payments if termination occurs within a specified period of time, generally two years from the date of the agreement, or pursuant to certain change in control transactions. |
Summary of Significant Accounting Policies (Policies) |
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Segments | BUSINESS SEGMENTS The Company's operations have been evaluated for segment reporting and management has determined operations are managed along two operating segments, consisting of banking operations and trust services. The Company derives its banking operations revenue from business and consumer customers through loan and deposit products. However, these components are not separately reviewed and all expenses are not segregated from the rest of the Company's operations and therefore are not reportable as segments. The Company's chief operating decision maker is the senior management team, which includes the CEO, President, CFO, Chief Risk Officer, Senior Loan Officer and Senior Operations Officer. While the chief operating decision maker uses financial information related to the banking operations and trust services segments to analyze business performance and allocate resources, the trust services segment does not meet the quantitative threshold under GAAP to be considered a reportable segment. Trust services revenue and net income are less than 4% of total Company revenue or net income. As such, these operating segments are aggregated into a single reportable operating segment in the Consolidated Financial Statements. |
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| Use of Estimates in Preparing Financial Statements | USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS In preparing the Consolidated Financial Statements, in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions affecting the reported amounts of assets and liabilities as of the date of the Consolidated Balance Sheets and reported amounts of revenues and expenses during each reporting period. Actual results could differ from those estimates. The most significant estimates susceptible to change in the near term relate to management’s determination of the allowance for credit losses and the fair value of financial instruments. |
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| Principles of Consolidation | PRINCIPLES OF CONSOLIDATION The Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. The Bank has a trust department and the assets held by the Bank in fiduciary or agency capacities for its customers are not included in the Consolidated Balance Sheets as such items are not assets of the Bank. |
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| Cash and Cash Equivalents | CASH AND CASH EQUIVALENTS For purposes of the Consolidated Statements of Cash Flows, cash and cash equivalents include cash on hand and amounts due from banks which mature or within ninety days. |
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| Debt Securities | DEBT SECURITIES At the time of purchase all debt securities are evaluated and designated as available-for-sale (AFS) or held-to-maturity (HTM). Securities designated as AFS are carried at fair value with unrealized gains and losses on such securities, net of applicable income taxes, recognized as other comprehensive income or loss. HTM securities are recorded at amortized cost. Securities transferred from AFS to HTM are carried at their fair value on the date of transfer. On December 31, 2024, 62% of the total investment portfolio was classified as HTM. The amortized cost of debt securities is adjusted for the accretion of discounts to maturity and the amortization of premiums to the earlier of a bond’s call date or maturity based on the interest method. Such amortization and accretion are included in interest and dividends on securities. Gains and losses on sales of securities are accounted for on a trade date basis, using the specific identification method, and are included in noninterest income. |
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| Equity Securities | EQUITY SECURITIES Equity securities are held at fair value. Holding gains and losses are recorded in income. Dividends on equity securities are recognized as income when earned. |
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| Restricted Stock | RESTRICTED STOCK Investments in FHLB and Federal Reserve Bank stock are classified as restricted stock, carried at cost, and evaluated for impairment. The Bank is required to maintain an investment in common stock of the FHLB and Federal Reserve Bank because the Bank is a member of the FHLB and the Federal Reserve System. |
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| Loans | LOANS Loans that management has the intent and ability to hold for the foreseeable future, until maturity, or pay-off, generally are stated at their outstanding principal amount, adjusted for charge-offs, the allowance for credit losses, and any deferred loan fees or costs on originated loans. Interest is accrued based upon the daily outstanding principal balance. Loan origination fees and certain direct origination costs are capitalized and recognized as an adjustment of the yield over the life of the related loan. Interest income is not reported when full repayment is in doubt, typically when the loan is individually evaluated, or payments are past due over 90 days. All interest accrued but not collected for loans placed on nonaccrual or charged-off is reversed and charged against interest income. The interest on these loans is accounted for on a 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. At origination, a determination is made whether a loan will be held in the Bank’s portfolio or is intended for sale in the secondary market. Mortgage loans held for sale are recorded at the lower of the aggregate cost or fair value. Generally, these loans are held for sale for less than three (3) days. The Bank recognizes gains and losses on sales of the loans held for sale when the sale is completed. |
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| Allowance for Credit Losses | ALLOWANCE FOR CREDIT LOSSES The ACL is a valuation reserve established and maintained by charges against operating income and is deducted from the amortized cost basis of loans to present the net amount expected to be collected on the loans. Loans, or portions thereof, are charged off against the ACL when they are deemed uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. The ACL is an estimate of expected credit losses, measured over the contractual life of a loan (adjusted for expected prepayment), that considers our historical loss experience, current conditions and forecasts of future economic conditions. Determination of an appropriate ACL is inherently subjective and may have significant changes from period to period. The methodology for determining the ACL has two main components: evaluation of expected credit losses for certain groups of homogeneous loans that share similar risk characteristics and evaluation of individual loans that do not share risk characteristics with other loans. The ACL for homogeneous loans is calculated using a life-time loss rate methodology with both a quantitative and a qualitative analysis that is applied on a quarterly basis. The ACL model is comprised of eight distinct portfolio segments: 1) Commercial and Industrial or C&I, 2) Commercial Real Estate, or CRE, 3) Commercial Lessors of Buildings, 4) Construction, 5) Consumer Mortgage, 6) Home Equity Line of Credit or HELOC, 7) Consumer Installment, and 8) Consumer Indirect loans. Each segment has a distinct set of risk characteristics monitored by management. Historical credit loss experience is the basis for the estimation of expected credit losses. We apply historical loss rates to pools of loans with similar risk characteristics. After consideration of the historic loss calculation, management applies qualitative adjustments to reflect the current conditions and reasonable and supportable forecasts not already reflected in the historical loss information at the balance sheet date. Our reasonable and supportable forecast adjustment is based on the unemployment forecast and management judgment. For periods beyond our two-year reasonable and supportable forecast, we revert to the historical loss rate. The qualitative adjustments for current conditions are based upon changes in lending policies and practices, change in economic conditions, change in nature of the portfolio, experience and ability of lending staff, problem loan trends, quality of the bank’s loan review system, value of underlying collateral for collateral dependent loans, the existence of and changes in concentrations, and other external factors. These modified historical loss rates are multiplied by the outstanding principal balance of each loan to calculate a required reserve. A similar process is employed to calculate a reserve assigned to the portion of off-balance sheet commitments that we expect to fund, specifically unfunded loan commitments, and any needed reserve is recorded in other liabilities. The ACL for individual loans begins with the use of normal credit review procedures to identify whether a loan no longer shares similar risk characteristics with other pooled loans and therefore, should be individually assessed. We evaluate all commercial loans greater than $500 thousand that meet the following criteria: 1) when it is determined that foreclosure is probable, 2) substandard, doubtful and nonperforming loans when repayment is expected to be provided substantially through the operation or sale of the collateral, and 3) when it is determined by management that a loan does not share similar risk characteristics with other loans. Collateral values are discounted to consider disposal costs when appropriate. A specific reserve is established or a charge-off is taken if the fair value of the loan is less than the loan balance. Although we believe our process for determining the ACL appropriately considers all the factors that would likely result in credit losses, the process includes subjective elements and may be susceptible to significant change. To the extent actual losses are higher than management estimates, additional provision for credit losses could be required and could adversely affect our earnings or financial position in future periods. The ACL for off-balance sheet commitments is estimated on the likelihood and amount of funding under the same criteria used for loans under the ACL. The ACL for off-balance sheet commitments is recorded in other liabilities in the Consolidated Balance Sheets. HTM Securities - Any expected credit loss is recorded through the ACL on HTM securities and is deducted from the amortized cost basis on the balance sheet. The majority of HTM securities are issued by U.S. government entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies, and have a long history of no credit losses. Therefore, there is no credit loss expectation on these securities. AFS Securities - The AFS securities portfolio is evaluated on a quarterly basis for indicators of credit loss. Management reviews the amount of unrealized loss, the credit rating history, market trends of similar security classes, time remaining to maturity, and the source of principal and interest payments to identify securities which could potentially have a credit loss. For those securities that management intends to sell before the recovery of their amortized cost basis, the difference between fair value and amortized cost is considered to have a credit loss and is recognized in provision for credit loss expense and the amortized cost is written down to the realizable value through a charge-off. For those AFS securities that management does not intend to sell prior to expected recovery of the amortized cost basis, the credit portion is recognized through the ACL on AFS securities, while the noncredit portion is recognized through the accumulated other comprehensive income or loss included in shareholders' equity. Non-credit related impairment is a result of other factors, including changes in interest rates. |
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| Other Real Estate Owned | OTHER REAL ESTATE OWNED Other real estate acquired through or in lieu of foreclosure is initially recorded at fair value, less estimated costs to sell, and any loan balance in excess of fair value is charged to the allowance for credit losses. Subsequent valuations are periodically performed, and write-downs are included in noninterest expenses, as well as expenses related to maintenance of the properties. Gains or losses upon sale are recorded through noninterest income. There was no other real estate owned on December 31, 2024 or 2023. |
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| Premises and Equipment | PREMISES AND EQUIPMENT Premises and equipment are stated at cost, less accumulated depreciation and amortization. Land is carried at cost. Depreciation and amortization are determined based on the estimated useful lives of the individual assets (typically 20 to 40 years for buildings and 3 to 10 years for equipment) and is computed using the straight-line method. Leasehold improvements are amortized over the useful life of the asset, or lease term, whichever is shorter. Expenses for maintenance and repairs are charged against income as incurred. Costs of major additions and improvements are capitalized. |
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| Goodwill | GOODWILL Goodwill is not amortized but is tested for impairment at least annually in the fourth quarter or more frequently if indicators of impairment are present. The evaluation for impairment involves comparing the current fair value of the reporting unit to the carrying value, including goodwill. If the current fair value of a reporting unit exceeds the carrying value, no additional testing is required, and an impairment loss is not recorded. The Company uses market capitalization and multiples of tangible book value methods, based on observable bank acquisitions in the state of Ohio, to determine the estimated current fair value of its reporting unit. Based on this analysis no impairment was recorded in 2024 or 2023. |
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| Mortgage Servicing Rights | MORTGAGE SERVICING RIGHTS Mortgage servicing rights (“MSRs”) represent the right to service loans for third party investors. MSRs are recognized at fair value as a separate asset upon the sale of mortgage loans to a third-party investor with the servicing rights retained by the Company. Originated MSRs are recorded at allocated fair value at the time of the sale of the loans to the third-party investor. MSRs are amortized in proportion to and over the estimated period of net servicing income. MSRs are carried at amortized cost, less a valuation allowance for impairment, if any. MSRs are evaluated on a discounted earnings basis to determine the present value of future earnings of the underlying serviced mortgages. All assumptions are reviewed annually, or more frequently if necessary, and adjusted to reflect current and anticipated market conditions. |
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| Bank Owned Life Insurance | BANK-OWNED LIFE INSURANCE The cash surrender value of bank-owned life insurance policies is included as an asset on the Consolidated Balance Sheets and any increases in the cash surrender value are recorded as noninterest income on the Consolidated Statements of Income. In the event of the death of an individual insured under these policies, the Company would receive a death benefit, which would be recorded as noninterest income. |
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| Repurchase Agreements | REPURCHASE AGREEMENTS Substantially all securities sold under repurchase agreements represent amounts advanced by various customers. Securities owned by the Bank are pledged to secure those obligations. Repurchase agreements are not deposits and are not covered by federal deposit insurance. |
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| Advertising Costs | ADVERTISING COSTS All advertising costs are expensed as incurred. Advertising expenses amounted to $187 thousand, $196 thousand for the years ended 2024 and 2023, respectively. |
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| Federal Income Taxes | FEDERAL INCOME TAXES The Company and its subsidiaries file a consolidated federal tax return. Deferred income taxes are recorded on temporary differences between financial statement and income tax reporting. Temporary differences are differences between the amounts of assets and liabilities reported for financial statement purposes and their respective tax bases. Deferred tax assets are recognized for temporary differences deductible in future years’ tax returns and for operating loss and tax credit carry forwards. Deferred tax assets are reduced by a valuation allowance if it is deemed more likely than not that some or all of the deferred tax assets will not be realized. Deferred tax liabilities are recognized for temporary differences taxable in future years’ tax returns. The Bank, domiciled in Ohio, is not currently subject to state and local income taxes. |
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| Comprehensive Income | COMPREHENSIVE INCOME The Company includes recognized revenue, expenses, gains, and losses in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the Consolidated Balance Sheets, net of tax, these items along with net income are components of comprehensive income. The unrealized loss on securities transferred from AFS to HTM at the date of transfer, is amortized over the remaining life of the securities as part of comprehensive income. |
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| Transfers of Financial Assets | TRANSFERS OF FINANCIAL ASSETS Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions constraining it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. |
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| Per Share Data | PER SHARE DATA Earnings per share is computed based on the weighted average number of shares of common stock outstanding during each year. The company currently maintains a simple capital structure, thus, there are no dilutive effects on earnings per share. The weighted average number of common shares outstanding for earnings per share computations was as follows:
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| Subsequent Events | UBSEQUENT EVENTS The Company has evaluated subsequent events through the date these financial statements were issued. |
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| Recently Issued Accounting Pronouncements and Accounting Pronouncements adopted in 2023 | RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic740): Improvements to Income Tax Disclosure. This new guidance is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this Update address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This Update also includes certain other amendments to improve the effectiveness of income tax disclosures. It is effective for public business entities for annual periods beginning after December 15, 2024. This update is not expected to have a significant impact on the Company's financial statements. ACCOUNTING PRONOUNCEMENTS ADOPTED IN 2024 In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments' significant expenses on an interim and annual basis. This ASU became effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Public entities are required to adopt the changes retrospectively, recasting each prior-period disclosure for which a comparative income statement is presented in the period of adoption. Upon adoption the Company expanded its disclosures regarding reportable segments, which are included above in Note 1 to the Consolidated Financial Statements. |
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| Reclassification of Comparative Amounts | RECLASSIFICATION OF COMPARATIVE AMOUNTS Certain comparative amounts from the prior years have been reclassified to conform to current year classifications. Such classifications had no effect on net income or shareholders’ equity. |
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Summary of Significant Accounting Policies (Tables) |
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Computation of Weighted Average Number of Common Shares Outstanding for Basic and Diluted Earnings Per Share | The weighted average number of common shares outstanding for earnings per share computations was as follows:
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Securities (Tables) |
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| Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Securities Available-for-Sale and Restricted Stock | Securities consisted of the following on December 31:
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| Summary of Amortized Cost and Fair Value of Debt Securities | The amortized cost and fair value of debt securities on December 31, 2024, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
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| Summary of Amortized Cost of Held-to Maturity Debt Securities Aggregated by Credit Quality Indicator | The following table summarizes the amortized cost of held-to maturity debt securities at December 31, 2024, aggregated by credit quality indicator:
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| Summary of Gross Unrealized Losses and Fair Value of Available for Sale Securities | The following table presents gross unrealized losses, fair value of securities, aggregated by investment category, and length of time individual available-for-sale securities have been in a continuous unrealized loss position, on December 31 2024 and 2023:
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Loans (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Loans | Loans consisted of the following on December 31:
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| Summary of Allowance for Loan Losses | The following table details activity in the allowance for credit losses on loans during the year ended December 31:
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| Schedule of Aging of Accruing Past Due and Nonaccrual Loans | The following table presents the classes of the loan portfolio summarized by the past-due status.
The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing interest as of December 31:
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| Summary of Loans by Credit Quality Indicator | Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered to be pass rated loans. Based on the most recent analysis performed, the following tables present the recorded investment in non-homogeneous loans by internal risk rating system:
1 Balances include $1.9 million USDA guarantee. 2 Balances include $16.4 million USDA guarantee.
The Company monitors the credit risk profile by payment activity for the loan classes listed below. Loans past due 90 days or more and loans on nonaccrual status are considered nonperforming. The following table presents the amortized cost in residential consumer loans based on payment activity:
Consumer mortgages are substantially secured by one to four family owner occupied properties and consumer indirect loans are substantially secured by recreational vehicles. All nonperforming consumer loans are evaluated when placed on nonaccrual status and may be charged down based on the fair value of the collateral less cost to sell, if that value is lower than the outstanding balance. |
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| Schedule of Collateral Dependent Loans | The following table presents the amortized cost basis of collateral dependent loans by class of loan:
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| Summary of Mortgage Servicing Rights Capitalized and Amortized | The following summarizes mortgage servicing rights capitalized and amortized during each year:
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Premises and Equipment (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Premises and Equipment | Premises and equipment consisted of the following on December 31:
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Leases (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Other Information Related to Operating Leases | The following table summarizes other information related to our operating leases:
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| Schedule of Aggregate Lease Maturities and Obligations | The following table presents aggregate lease maturities and obligations:
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Interest-Bearing Deposits (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Bearing Deposits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Interest - Bearing Deposits | Interest-bearing deposits on December 31 were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stated Maturities of Time Deposits | On December 31, 2024, stated maturities of time deposits were as follows:
|
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Borrowings (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Short-Term Borrowings | The outstanding balances and related information for short-term borrowings are summarized as follows:
|
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| Summary of Collateral Pledged to Secure Repurchase Agreements Accounted for as Secured Borrowings | The following table provides additional detail regarding the collateral pledged to secure repurchase agreements accounted for as secured borrowings:
|
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| Concerning of Other Borrowings | The following table sets forth information concerning other borrowings:
|
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| Schedule of Maturities of Other Borrowings | Maturities of other borrowings on December 31, 2024, are summarized as follows for the years ended December 31:
|
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Income Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Income Tax Expense | Income tax expense was as follows:
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| Income Tax Provision Attributable to Income from Operations | Effective tax rates were 18.8% and 19.7% for 2024 and 2023 and differ from the federal statutory rate of 21% applied to income before taxes due to the following:
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| Tax Effects of Temporary Differences of Deferred Tax Assets and Deferred Tax Liabilities | The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities on December 31 were as follows:
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Financial Instruments with Off-Balance Sheet Risk (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||
| Summary of Financial Instruments whose Contract Amount Represents Credit Risk | The following financial instruments whose contract amount represents credit risk were outstanding on December 31:
|
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Related-Party Transactions (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Analysis of Activity of Related-Party Loans | The following is an analysis of activity of related-party loans for the years ended December 31:
|
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Regulatory Matters (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Actual Capital Amounts and Ratios of Company and Bank | The actual capital amounts and ratios of the Company and Bank as of December 31 are presented in the following tables:
|
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Condensed Parent Company Financial Information (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Financial Information Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Condensed Financial Information | A summary of condensed financial information of the parent company as of December 31, 2024, and 2023, and for each of the two years in the period ended December 31, 2024, follows:
|
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| Summary of Condensed Statements of Comprehensive Income |
|
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| Summary of Condensed Statements of Cash Flows |
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Fair Value Measurements (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Fair Value of Assets Measured on Recurring Basis | The following table presents the assets reported on the consolidated statements of financial condition at their fair value on a recurring basis as of December 31, 2024, and December 31, 2023, by level within the fair value hierarchy. No liabilities were carried at fair value. As required by the accounting standards, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Equity securities with readily determinable values and U.S. Treasury Notes are valued at the closing price reported on the active market on which the individual securities are traded. Obligations of U.S. government agencies, mortgage-backed securities, asset-backed securities, obligations of states and political subdivisions and corporate bonds are valued at observable market data for similar assets. Equity securities without readily determinable values are carried at amortized cost, adjusted for impairment and observable price changes.
|
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Fair Values of Financial Instruments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments, All Other Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Estimated Fair Values of Recognized Financial Instruments Carried at Amortized Cost | The estimated fair values of recognized financial instruments carried at amortized cost as of December 31 were as follows:
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Accumulated Other Comprehensive Loss (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Changes in Accumulated Other Comprehensive Loss by Component Net of Tax | The following table presents the changes in accumulated other comprehensive loss by component net of tax for the years ended December 31, 2024, and 2023:
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Summary of Significant Accounting Policies - Computation of Weighted Average Number of Common Shares Outstanding for Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Weighted Average Number of Shares Outstanding, Diluted [Abstract] | ||
| Weighted average common shares issued | 2,980,602 | 2,980,602 |
| Average treasury shares | (319,294) | (300,700) |
| Total weighted average common shares outstanding basic | 2,661,308 | 2,679,902 |
| Total weighted average common shares outstanding diluted | 2,661,308 | 2,679,902 |
| Net Income (Loss) | $ 10,012 | $ 14,756 |
| Earnings per share basic | $ 3.76 | $ 5.51 |
| Earnings per share diluted | $ 3.76 | $ 5.51 |
Loans - Schedule of the Credit Quality Indicators Recorded Investment in Non-homogeneous Loans by Internal Risk Rating System (Parenthetical) (Details) - Substandard [Member] - Non-Homogeneous Loans [Member] $ in Millions |
Dec. 31, 2024
USD ($)
|
|---|---|
| Commercial and Industrial [Member] | |
| Financing Receivable, Credit Quality Indicator [Line Items] | |
| USDA Guarentee | $ 1.9 |
| Commercial Construction [Member] | |
| Financing Receivable, Credit Quality Indicator [Line Items] | |
| USDA Guarentee | $ 16.4 |
Loans - Schedule of Amortized Cost Basis Of Loans On Nonaccrual Status And Loans Past Due Over 90 Days Still Accruing Interest (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Financing Receivable, Nonaccrual [Line Items] | ||
| Nonaccrual with no ACL | $ 910 | |
| Nonaccrual with ACL | 309 | $ 396 |
| Total Nonaccrual | 1,219 | 396 |
| Loans Past Due Over 90 Days Still Accruing | 486 | |
| Total Nonperforming | 1,705 | 396 |
| Commercial and Industrial [Member] | ||
| Financing Receivable, Nonaccrual [Line Items] | ||
| Nonaccrual with no ACL | 413 | |
| Nonaccrual with ACL | 36 | 59 |
| Total Nonaccrual | 449 | 59 |
| Total Nonperforming | 449 | 59 |
| Commercial Real Estate [Member] | ||
| Financing Receivable, Nonaccrual [Line Items] | ||
| Nonaccrual with no ACL | 497 | |
| Nonaccrual with ACL | 4 | 62 |
| Total Nonaccrual | 501 | 62 |
| Total Nonperforming | 501 | 62 |
| Commercial Lessors of Buildings [Member] | ||
| Financing Receivable, Nonaccrual [Line Items] | ||
| Nonaccrual with ACL | 3 | 15 |
| Total Nonaccrual | 3 | 15 |
| Total Nonperforming | 3 | 15 |
| Consumer Mortgage [Member] | ||
| Financing Receivable, Nonaccrual [Line Items] | ||
| Nonaccrual with ACL | 80 | 172 |
| Total Nonaccrual | 80 | 172 |
| Loans Past Due Over 90 Days Still Accruing | 486 | |
| Total Nonperforming | 566 | 172 |
| Home Equity Line of Credit [Member] | ||
| Financing Receivable, Nonaccrual [Line Items] | ||
| Nonaccrual with ACL | 71 | |
| Total Nonaccrual | 71 | |
| Total Nonperforming | 71 | |
| Consumer Installment [Member] | ||
| Financing Receivable, Nonaccrual [Line Items] | ||
| Nonaccrual with ACL | 48 | 49 |
| Total Nonaccrual | 48 | 49 |
| Total Nonperforming | 48 | 49 |
| Consumer Indirect [Member] | ||
| Financing Receivable, Nonaccrual [Line Items] | ||
| Nonaccrual with ACL | 67 | 39 |
| Total Nonaccrual | 67 | 39 |
| Total Nonperforming | $ 67 | $ 39 |
Loans - Schedule of Collateral Dependent Loans (Details) $ in Thousands |
Dec. 31, 2024
USD ($)
|
|---|---|
| Real Estate [Member] | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Total collateral dependent loans | $ 501 |
| Blanket Liens [Member] | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Total collateral dependent loans | 413 |
| Commercial Real Estate [Member] | Real Estate [Member] | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Total collateral dependent loans | 501 |
| Commercial and Industrial [Member] | Blanket Liens [Member] | |
| Accounts, Notes, Loans and Financing Receivable [Line Items] | |
| Total collateral dependent loans | $ 413 |
Loans - Schedule of the Credit Quality Indicators Amortized Cost in Residential Consumer Loans Based on Payment Activity (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| YTD gross charge-offs | $ 6,394 | $ 112 |
| Total | 737,790 | 701,481 |
| Total | 737,641 | 701,404 |
| Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2024/2023 | 33,744 | 36,547 |
| 2023/2022 | 33,015 | 40,431 |
| 2022/2021 | 35,664 | 37,669 |
| 2021/2020 | 33,720 | 33,823 |
| 2020/2019 | 29,401 | 9,818 |
| Prior | 36,155 | 32,937 |
| Current fiscal year, YTD gross charge-offs | 3 | 2 |
| Fiscal year before latest fiscal year, YTD gross charge-offs | 23 | 12 |
| Two years before latest fiscal year, YTD gross charge-offs | 20 | 19 |
| Three years before latest fiscal year, YTD gross charge-offs | 5 | 5 |
| Four years before latest fiscal year, YTD gross charge-offs | 4 | 2 |
| Prior YTD gross charge-offs | 70 | 72 |
| YTD gross charge-offs | 125 | 112 |
| Revolving Loans Amortized Cost Basis | 44,999 | 43,291 |
| Revolving Loans Converted to Term | 35 | 46 |
| Total | 246,733 | 234,562 |
| Performing [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2024/2023 | 33,744 | 36,547 |
| 2023/2022 | 32,991 | 40,428 |
| 2022/2021 | 35,302 | 37,669 |
| 2021/2020 | 33,641 | 33,823 |
| 2020/2019 | 29,350 | 9,737 |
| Prior | 35,990 | 32,761 |
| Revolving Loans Amortized Cost Basis | 44,928 | 43,291 |
| Revolving Loans Converted to Term | 35 | 46 |
| Total | 245,981 | 234,302 |
| Nonperforming Financial Instruments [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2023/2022 | 24 | 3 |
| 2022/2021 | 362 | |
| 2021/2020 | 79 | |
| 2020/2019 | 51 | 81 |
| Prior | 165 | 176 |
| Revolving Loans Amortized Cost Basis | 71 | |
| Total | 752 | 260 |
| Consumer Mortgage [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| Total | 177,578 | 166,891 |
| Consumer Mortgage [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2024/2023 | 21,807 | 24,521 |
| 2023/2022 | 28,296 | 34,798 |
| 2022/2021 | 32,298 | 35,802 |
| 2021/2020 | 32,616 | 32,259 |
| 2020/2019 | 28,622 | 8,931 |
| Prior | 33,939 | 30,580 |
| Total | 177,578 | 166,891 |
| Consumer Mortgage [Member] | Performing [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2024/2023 | 21,807 | 24,521 |
| 2023/2022 | 28,296 | 34,798 |
| 2022/2021 | 31,939 | 35,802 |
| 2021/2020 | 32,540 | 32,259 |
| 2020/2019 | 28,571 | 8,931 |
| Prior | 33,859 | 30,408 |
| Total | 177,012 | 166,719 |
| Consumer Mortgage [Member] | Nonperforming Financial Instruments [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2022/2021 | 359 | |
| 2021/2020 | 76 | |
| 2020/2019 | 51 | |
| Prior | 80 | 172 |
| Total | 566 | 172 |
| Consumer Construction [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2024/2023 | 7,511 | 5,463 |
| 2023/2022 | 657 | 1,477 |
| 2022/2021 | 810 | 264 |
| 2021/2020 | 159 | 483 |
| 2020/2019 | 86 | 81 |
| Prior | 40 | 41 |
| Total | 9,263 | 7,809 |
| Consumer Construction [Member] | Performing [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2024/2023 | 7,511 | 5,463 |
| 2023/2022 | 657 | 1,477 |
| 2022/2021 | 810 | 264 |
| 2021/2020 | 159 | 483 |
| 2020/2019 | 86 | 81 |
| Prior | 40 | 41 |
| Total | 9,263 | 7,809 |
| Home Equity Line of Credit [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| Total | 44,971 | 43,269 |
| Home Equity Line of Credit [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| Revolving Loans Amortized Cost Basis | 44,936 | 43,223 |
| Revolving Loans Converted to Term | 35 | 46 |
| Total | 44,971 | 43,269 |
| Home Equity Line of Credit [Member] | Performing [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| Revolving Loans Amortized Cost Basis | 44,865 | 43,223 |
| Revolving Loans Converted to Term | 35 | 46 |
| Total | 44,900 | 43,269 |
| Home Equity Line of Credit [Member] | Nonperforming Financial Instruments [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| Revolving Loans Amortized Cost Basis | 71 | |
| Total | 71 | |
| Consumer Installment [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| YTD gross charge-offs | 65 | 46 |
| Total | 9,645 | 10,636 |
| Consumer Installment [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2024/2023 | 3,660 | 5,705 |
| 2023/2022 | 3,433 | 3,067 |
| 2022/2021 | 1,633 | 981 |
| 2021/2020 | 446 | 513 |
| 2020/2019 | 209 | 118 |
| Prior | 201 | 184 |
| Current fiscal year, YTD gross charge-offs | 3 | 2 |
| Fiscal year before latest fiscal year, YTD gross charge-offs | 23 | 12 |
| Two years before latest fiscal year, YTD gross charge-offs | 20 | 19 |
| Three years before latest fiscal year, YTD gross charge-offs | 5 | 5 |
| Four years before latest fiscal year, YTD gross charge-offs | 4 | 2 |
| Prior YTD gross charge-offs | 10 | 6 |
| YTD gross charge-offs | 65 | 46 |
| Revolving Loans Amortized Cost Basis | 63 | 68 |
| Total | 9,645 | 10,636 |
| Consumer Installment [Member] | Performing [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2024/2023 | 3,660 | 5,705 |
| 2023/2022 | 3,427 | 3,067 |
| 2022/2021 | 1,630 | 981 |
| 2021/2020 | 443 | 513 |
| 2020/2019 | 209 | 118 |
| Prior | 165 | 184 |
| Revolving Loans Amortized Cost Basis | 63 | 68 |
| Total | 9,597 | 10,636 |
| Consumer Installment [Member] | Nonperforming Financial Instruments [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2023/2022 | 6 | |
| 2022/2021 | 3 | |
| 2021/2020 | 3 | |
| Prior | 36 | |
| Total | 48 | |
| Consumer Indirect [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| YTD gross charge-offs | 60 | 66 |
| Total | 5,276 | 5,957 |
| Consumer Indirect [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2024/2023 | 766 | 858 |
| 2023/2022 | 629 | 1,089 |
| 2022/2021 | 923 | 622 |
| 2021/2020 | 499 | 568 |
| 2020/2019 | 484 | 688 |
| Prior | 1,975 | 2,132 |
| Prior YTD gross charge-offs | 60 | 66 |
| YTD gross charge-offs | 60 | 66 |
| Total | 5,276 | 5,957 |
| Consumer Indirect [Member] | Performing [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2024/2023 | 766 | 858 |
| 2023/2022 | 611 | 1,086 |
| 2022/2021 | 923 | 622 |
| 2021/2020 | 499 | 568 |
| 2020/2019 | 484 | 607 |
| Prior | 1,926 | 2,128 |
| Total | 5,209 | 5,869 |
| Consumer Indirect [Member] | Nonperforming Financial Instruments [Member] | Residential Consumer Loans [Member] | ||
| Financing Receivable, Credit Quality Indicator [Line Items] | ||
| 2023/2022 | 18 | 3 |
| 2020/2019 | 81 | |
| Prior | 49 | 4 |
| Total | $ 67 | $ 88 |
Loans - Summary of Mortgage Servicing Rights Capitalized and Amortized (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Receivables [Abstract] | ||
| Beginning of year | $ 600 | $ 621 |
| Capitalized additions | 88 | 47 |
| Amortization | (67) | (68) |
| End of year | $ 621 | $ 600 |
Premises and Equipment - Components of Premises and Equipment (Detail) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Property, Plant and Equipment [Line Items] | ||
| Premises and equipment, cost | $ 26,128 | $ 24,209 |
| Accumulated depreciation | (12,059) | (11,207) |
| Premises and equipment, net | 14,069 | 13,002 |
| Land and Improvements [Member] | ||
| Property, Plant and Equipment [Line Items] | ||
| Premises and equipment, cost | 2,561 | 2,540 |
| Buildings and Improvements [Member] | ||
| Property, Plant and Equipment [Line Items] | ||
| Premises and equipment, cost | 15,993 | 14,698 |
| Furniture and Equipment [Member] | ||
| Property, Plant and Equipment [Line Items] | ||
| Premises and equipment, cost | 7,234 | 6,642 |
| Leasehold Improvements [Member] | ||
| Property, Plant and Equipment [Line Items] | ||
| Premises and equipment, cost | $ 340 | $ 329 |
Premises and Equipment - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Property, Plant and Equipment [Abstract] | ||
| Depreciation expense | $ 879 | $ 826 |
Leases - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Schedule Of Operating Leases [Line Items] | ||
| Operating lease right of use asset | $ 203 | |
| Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Accrued interest receivable and other assets | |
| Operating lease liabilities | $ 196 | |
| Operating Lease, Liability, Statement of Financial Position [Extensible List] | Accrued interest payable and other liabilities | |
| Operating lease cost | $ 123 | $ 112 |
| Minimum [Member] | ||
| Schedule Of Operating Leases [Line Items] | ||
| Remaining lease term - operating leases in years | 2 years | |
| Operating lease extension period | 2 years | |
| Maximum [Member] | ||
| Schedule Of Operating Leases [Line Items] | ||
| Remaining lease term - operating leases in years | 5 years | |
| Operating lease extension period | 5 years | |
Leases - Summary of Other Information Related to Operating Leases (Detail) |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Leases [Abstract] | ||
| Weighted-average remaining lease term - operating leases in years | 1 year 9 months 18 days | 2 years 9 months 18 days |
| Weighted-average discount rate - operating leases | 2.69% | 2.69% |
Leases - Schedule of Aggregate Lease Maturities and Obligations (Detail) $ in Thousands |
Dec. 31, 2024
USD ($)
|
|---|---|
| Leases [Abstract] | |
| 2025 | $ 72 |
| 2026 | 79 |
| 2027 | 45 |
| 2028 | 10 |
| Total lease payments | 206 |
| Less: interest | 10 |
| Present value of lease liabilities | $ 196 |
Interest-Bearing Deposits - Summary of Interest - Bearing Deposits (Detail) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Interest Bearing Deposits [Line Items] | ||
| Total interest-bearing deposits | $ 763,529 | $ 725,730 |
| Interest-bearing Deposits | ||
| Interest Bearing Deposits [Line Items] | ||
| Demand | 218,866 | 256,621 |
| Savings | 301,410 | 277,529 |
| In excess of $250,000 | 80,384 | 59,347 |
| Other | 162,869 | 132,233 |
| Total interest-bearing deposits | $ 763,529 | $ 725,730 |
Interest-Bearing Deposits - Stated Maturities of Time Deposits (Detail) $ in Thousands |
Dec. 31, 2024
USD ($)
|
|---|---|
| Maturities of Time Deposits [Abstract] | |
| 2025 | $ 212,968 |
| 2026 | 24,539 |
| 2027 | 4,851 |
| 2028 | 554 |
| 2029 | 341 |
| Total | $ 243,253 |
Borrowings - Short-Term Borrowings (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Equity Method Investments And Cost Method Investments [Abstract] | ||
| Balance at year-end | $ 25,683 | $ 35,843 |
| Average balance outstanding | 27,266 | 32,478 |
| Maximum month-end balance | $ 34,750 | $ 37,479 |
| Weighted-average rate at year-end | 1.03% | 1.18% |
| Weighted-average rate during the year | 1.15% | 1.03% |
Borrowings - Summary of Collateral Pledged to Secure Repurchase Agreements Accounted for as Secured Borrowings (Detail) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Short-Term Debt [Abstract] | ||
| Securities of U.S. Government agencies and mortgage-backed securities of government agencies pledged, fair value | $ 25,745 | $ 36,002 |
| Repurchase agreements | $ 25,683 | $ 35,843 |
Borrowings - Concerning of Other Borrowings (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Debt Instrument [Line Items] | ||
| Other borrowings | $ 1,266 | $ 1,754 |
| Fixed Rate Amortizing Borrowing [Member] | ||
| Debt Instrument [Line Items] | ||
| Maturity date Range, From | Jun. 01, 2032 | |
| Maturity date Range, To | Jun. 01, 2037 | |
| Weighted Average Interest Rate | 1.98% | |
| Other borrowings | $ 1,266 | $ 1,754 |
| Fixed Rate Amortizing Borrowing [Member] | Minimum [Member] | ||
| Debt Instrument [Line Items] | ||
| Stated Interest Rate Range | 1.95% | |
| Fixed Rate Amortizing Borrowing [Member] | Maximum [Member] | ||
| Debt Instrument [Line Items] | ||
| Stated Interest Rate Range | 2.01% |
Borrowings - Schedule of Maturities of Other Borrowings (Detail) $ in Thousands |
Dec. 31, 2024
USD ($)
|
|---|---|
| Debt Instrument [Line Items] | |
| 2025 | $ 349 |
| 2026 | 262 |
| 2027 | 195 |
| 2028 | 144 |
| 2029 | 106 |
| 2030 and beyond | 210 |
| Total other borrowings | $ 1,266 |
| Weighted Average Interest Rate, 2025 | 1.98% |
| Weighted Average Interest Rate, 2026 | 1.98% |
| Weighted Average Interest Rate, 2027 | 1.98% |
| Weighted Average Interest Rate, 2028 | 1.98% |
| Weighted Average Interest Rate, 2029 | 1.98% |
| Weighted Average Interest Rate, 2030 and beyond | 1.99% |
| Weighted Average Interest Rate, Total other borrowings | 1.98% |
Borrowings - Additional Information (Detail) $ in Millions |
Dec. 31, 2024
USD ($)
|
|---|---|
| Debt Instrument [Line Items] | |
| Principal curtailment is due on borrowings | 20.00% |
| Additional borrowing capacity | $ 126 |
Income Taxes - Summary of Income Tax Expense (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||
| Current | $ 2,205 | $ 3,334 |
| Deferred | 118 | 293 |
| Total income tax provision | $ 2,323 | $ 3,627 |
Income Taxes - Additional Information (Detail) - USD ($) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Income Tax Disclosure [Abstract] | ||
| Effective tax rates | 18.80% | 19.70% |
| Effective tax rate differ from federal statutory | 21.00% | 21.00% |
| Liability for uncertain tax position | $ 0 | |
| Unrecognized tax benefits | $ 0 | |
Income Taxes - Income Tax Provision Attributable to Income from Operations (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract] | ||
| Expected provision using statutory federal income tax rate | $ 2,590 | $ 3,860 |
| Effect of bond and loan tax-exempt income | (112) | (104) |
| Bank owned life insurance income | (171) | (147) |
| Other | 16 | 18 |
| Total income tax provision | $ 2,323 | $ 3,627 |
Income Taxes - Tax Effects of Temporary Differences of Deferred Tax Assets and Deferred Tax Liabilities (Detail) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Components of Deferred Tax Assets and Liabilities [Abstract] | ||
| Allowance for credit losses | $ 1,693 | $ 1,485 |
| Unrealized loss on securities | 2,238 | 2,730 |
| Other | 177 | 225 |
| Deferred tax assets | 4,108 | 4,440 |
| Premises and equipment | (564) | (554) |
| Federal Home Loan Bank stock dividends | (93) | (95) |
| Deferred loan fees | (335) | (312) |
| Prepaid expenses | (129) | (205) |
| Other | (727) | (640) |
| Deferred tax liabilities | (1,848) | (1,806) |
| Net deferred tax asset | $ 2,260 | $ 2,634 |
Employee Benefits - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jan. 01, 2018 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Defined Contribution Plan Disclosure [Line Items] | |||
| Profit sharing contribution | 2.25% | 3.25% | |
| Company match of participant contributions | 100.00% | ||
| Expense under plan | $ 520 | $ 809 | |
| Expense under deferred compensation plan | $ 7 | $ 6 | |
| Defined Contribution Plan, Tax Status [Extensible Enumeration] | Nonqualified Plan [Member] | Nonqualified Plan [Member] | |
| Maximum [Member] | |||
| Defined Contribution Plan Disclosure [Line Items] | |||
| Profit sharing contribution | 4.00% | ||
Financial Instruments with Off-Balance Sheet Risk - Summary of Financial Instruments whose Contract Amount Represents Credit Risk (Detail) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Off Balance Sheet Financing [Line Items] | ||
| Fair value of financial instruments | $ 3,979 | $ 4,379 |
| Commitments to Extend Credit [Member] | ||
| Off Balance Sheet Financing [Line Items] | ||
| Fair value of financial instruments | $ 285,090 | $ 277,553 |
Financial Instruments with Off-Balance Sheet Risk - Additional Information (Detail) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Offsetting [Abstract] | ||
| Allowance for credit losses unfunded loan commitments | $ 524 | $ 736 |
Related-Party Transactions - Summary of Analysis of Activity of Related-Party Loans (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Related Party Transactions [Abstract] | ||
| Balance at beginning of year | $ 305 | $ 332 |
| New loans and advances | 7 | 23 |
| Repayments, including loans sold | 25 | 50 |
| Balance at end of year | $ 287 | $ 305 |
Related-Party Transactions - Additional Information (Detail) - USD ($) $ in Millions |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Related Party Transactions [Abstract] | ||
| Deposits from executive officers, directors, and their immediate family members, and their related business interests | $ 18.4 | $ 9.3 |
Regulatory Matters - Summary of Actual Capital Amounts and Ratios of Company and Bank (Detail) $ in Thousands |
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
|---|---|---|
| Bank [Member] | ||
| Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
| Total capital to risk-weighted assets, Actual Amount | $ 125,774 | $ 120,184 |
| Tier 1 capital to risk-weighted assets, Actual Amount | 117,655 | 112,841 |
| Common equity tier 1 capital to risk-weighted assets, Actual Amount | 117,655 | 112,841 |
| Tier 1 leverage ratio, Actual Amount | $ 117,655 | $ 112,841 |
| Total capital to risk-weighted assets, Actual Ratio | 0.163 | 0.162 |
| Tier 1 capital to risk-weighted assets, Actual Ratio | 0.152 | 0.152 |
| Common equity tier 1 capital to risk-weighted assets, Actual Ratio | 0.152 | 0.152 |
| Tier 1 leverage ratio, Actual Ratio | 0.097 | 0.095 |
| Total capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes Amount | $ 61,855 | $ 59,446 |
| Tier 1 capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes Amount | 46,391 | 44,585 |
| Common equity tier I capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes Amount | 34,793 | 33,439 |
| Tier 1 leverage ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 48,627 | $ 47,324 |
| Total capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes Ratio | 0.08 | 0.08 |
| Tier 1 capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes Ratio | 0.06 | 0.06 |
| Common equity tier I capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes Ratio | 0.045 | 0.045 |
| Tier 1 leverage ratio, Minimum Required for Capital Adequacy Purposes Ratio | 0.04 | 0.04 |
| Total capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Amount | $ 77,319 | $ 74,308 |
| Tier 1 capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Amount | 61,855 | 59,446 |
| Common equity tier I capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Amount | 50,257 | 48,300 |
| Tier 1 leverage ratio, Minimum Required to be Well Capitalized Under Prompt Corrective Action Amount | $ 60,783 | $ 59,155 |
| Total capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Ratio | 0.10 | 0.10 |
| Tier 1 capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Ratio | 0.08 | 0.08 |
| Common equity tier I capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Ratio | 0.065 | 0.065 |
| Tier 1 leverage ratio, Minimum Required to be Well Capitalized Under Prompt Corrective Action Ratio | 0.05 | 0.05 |
| Consolidated [Member] | ||
| Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
| Total capital to risk-weighted assets, Actual Amount | $ 126,646 | $ 120,824 |
| Tier 1 capital to risk-weighted assets, Actual Amount | 118,527 | 113,481 |
| Common equity tier 1 capital to risk-weighted assets, Actual Amount | 118,527 | 113,481 |
| Tier 1 leverage ratio, Actual Amount | $ 118,527 | $ 113,481 |
| Total capital to risk-weighted assets, Actual Ratio | 0.164 | 0.163 |
| Tier 1 capital to risk-weighted assets, Actual Ratio | 0.153 | 0.153 |
| Common equity tier 1 capital to risk-weighted assets, Actual Ratio | 0.153 | 0.153 |
| Tier 1 leverage ratio, Actual Ratio | 0.097 | 0.096 |
| Total capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes Amount | $ 61,891 | $ 59,480 |
| Tier 1 capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes Amount | 46,419 | 44,610 |
| Common equity tier I capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes Amount | 34,814 | 33,457 |
| Tier 1 leverage ratio, Minimum Required for Capital Adequacy Purposes Amount | $ 48,644 | $ 47,340 |
| Total capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes Ratio | 0.08 | 0.08 |
| Tier 1 capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes Ratio | 0.06 | 0.06 |
| Common equity tier I capital to risk-weighted assets, Minimum Required for Capital Adequacy Purposes Ratio | 0.045 | 0.045 |
| Tier 1 leverage ratio, Minimum Required for Capital Adequacy Purposes Ratio | 0.04 | 0.04 |
| Total capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Amount | $ 77,364 | $ 74,349 |
| Tier 1 capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Amount | 61,891 | 59,480 |
| Common equity tier I capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Amount | 50,287 | 48,327 |
| Tier 1 leverage ratio, Minimum Required to be Well Capitalized Under Prompt Corrective Action Amount | $ 60,805 | $ 59,175 |
| Total capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Ratio | 0.10 | 0.10 |
| Tier 1 capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Ratio | 0.08 | 0.08 |
| Common equity tier I capital to risk-weighted assets, Minimum Required to be Well Capitalized Under Prompt Corrective Action Ratio | 0.065 | 0.065 |
| Tier 1 leverage ratio, Minimum Required to be Well Capitalized Under Prompt Corrective Action Ratio | 0.05 | 0.05 |
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Jan. 01, 2025 |
|
| Schedule Of Regulatory Assets And Liabilities [Line Items] | ||
| Period of Retained Earnings For Restriction of Dividend | 2 years | |
| Maximum percentage of secured loans of Bank's common stock and capital surplus | 10.00% | |
| Subsequent Event [Member] | ||
| Schedule Of Regulatory Assets And Liabilities [Line Items] | ||
| Provision for dividend to the Company | $ 24.3 |
Condensed Parent Company Financial Information - Summary of Condensed Financial Information (Detail) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|
| ASSETS | |||
| Cash and due from banks | $ 21,287 | $ 24,463 | |
| Equity securities | 266 | 259 | |
| Fair Value, Available-for-sale | 125,434 | 140,080 | |
| TOTAL ASSETS | 1,191,500 | 1,178,689 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||
| Total liabilities | 1,076,665 | 1,070,750 | |
| Total shareholders’ equity | 114,835 | 107,939 | $ 95,920 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 1,191,500 | 1,178,689 | |
| Parent Company [Member] | |||
| ASSETS | |||
| Cash and due from banks | 496 | 271 | |
| Investment in subsidiary bank | 113,963 | 107,299 | |
| Equity securities | 266 | 259 | |
| Other assets | 207 | 174 | |
| TOTAL ASSETS | 114,932 | 108,003 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||
| Total liabilities | 97 | 64 | |
| Total shareholders’ equity | 114,835 | 107,939 | |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ 114,932 | $ 108,003 |
Condensed Parent Company Financial Information - Summary of Condensed Statements of Comprehensive Income (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Unrealized gain on equity securities | $ 8 | $ 15 |
| Other income | 866 | 836 |
| NET INCOME | 10,012 | 14,756 |
| COMPREHENSIVE INCOME | 11,862 | 17,405 |
| Parent Company [Member] | ||
| Dividends on securities | 11 | 9 |
| Dividends from subsidiary | 5,500 | 5,200 |
| Unrealized gain on equity securities | 8 | 15 |
| Other income | 4 | |
| Total income | 5,523 | 5,224 |
| Operating expenses | 407 | 391 |
| Income before taxes and undistributed equity income of subsidiary | 5,116 | 4,833 |
| Income tax benefit | 82 | 74 |
| Equity earnings in subsidiary, net of dividends | 4,814 | 9,849 |
| NET INCOME | 10,012 | 14,756 |
| COMPREHENSIVE INCOME | $ 11,862 | $ 17,405 |
Condensed Parent Company Financial Information - Summary of Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $ 10,012 | $ 14,756 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Unrealized gain on equity securities | (8) | (15) |
| Change in other assets and liabilities | (1,915) | (715) |
| Net cash provided by operating activities | 15,665 | 15,625 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Net cash used in investing activities | (8,079) | (39,126) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Cash dividends paid | (4,204) | (4,013) |
| Net cash provided by financing activities | 1,846 | 1,158 |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 9,432 | (22,343) |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 64,077 | 86,420 |
| CASH AND CASH EQUIVALENTS AT END OF YEAR | 73,509 | 64,077 |
| Parent Company [Member] | ||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | 10,012 | 14,756 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Equity earnings in subsidiary, net of dividends | (4,814) | (9,849) |
| Unrealized gain on equity securities | (8) | (15) |
| Change in other assets and liabilities | 1 | 12 |
| Net cash provided by operating activities | 5,191 | 4,904 |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Cash dividends paid | (4,204) | (4,013) |
| Purchase of treasury stock | (762) | (1,425) |
| Net cash provided by financing activities | (4,966) | (5,438) |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 225 | (534) |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 271 | 805 |
| CASH AND CASH EQUIVALENTS AT END OF YEAR | $ 496 | $ 271 |
Fair Value Measurements - Additional Information (Detail) - USD ($) |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
| Liabilities carried at fair value | $ 0 | $ 0 |
Fair Value Measurements - Schedule of Fair Value of Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | $ 125,434 | $ 140,080 |
| Equity securities | 266 | 259 |
| U.S. Treasury Securities [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 13,414 | 17,689 |
| U.S. Government Agencies [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 5,698 | 13,152 |
| Mortgage-Backed Securities of Government Agencies [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 62,698 | 65,045 |
| Asset-Backed Securities of Government Agencies [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 398 | 523 |
| State and Political Subdivisions [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 14,246 | 16,586 |
| Corporate Bonds [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 28,980 | 27,085 |
| Fair Value, Measurements, Recurring [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 125,434 | 140,080 |
| Equity securities | 221 | 213 |
| Fair Value, Measurements, Recurring [Member] | U.S. Treasury Securities [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 13,414 | 17,689 |
| Fair Value, Measurements, Recurring [Member] | U.S. Government Agencies [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 5,698 | 13,152 |
| Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities of Government Agencies [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 62,698 | 65,045 |
| Fair Value, Measurements, Recurring [Member] | Asset-Backed Securities of Government Agencies [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 398 | 523 |
| Fair Value, Measurements, Recurring [Member] | State and Political Subdivisions [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 14,246 | 16,586 |
| Fair Value, Measurements, Recurring [Member] | Corporate Bonds [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 28,980 | 27,085 |
| Fair Value, Measurements, Recurring [Member] | Level I [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Equity securities | 221 | 213 |
| Fair Value, Measurements, Recurring [Member] | Level I [Member] | U.S. Treasury Securities [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 17,689 | |
| Fair Value, Measurements, Recurring [Member] | Level II [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 125,434 | 140,080 |
| Fair Value, Measurements, Recurring [Member] | Level II [Member] | U.S. Treasury Securities [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 13,414 | |
| Fair Value, Measurements, Recurring [Member] | Level II [Member] | U.S. Government Agencies [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 5,698 | 13,152 |
| Fair Value, Measurements, Recurring [Member] | Level II [Member] | Mortgage-Backed Securities of Government Agencies [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 62,698 | 65,045 |
| Fair Value, Measurements, Recurring [Member] | Level II [Member] | Asset-Backed Securities of Government Agencies [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 398 | 523 |
| Fair Value, Measurements, Recurring [Member] | Level II [Member] | State and Political Subdivisions [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | 14,246 | 16,586 |
| Fair Value, Measurements, Recurring [Member] | Level II [Member] | Corporate Bonds [Member] | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Total available-for-sale securities | $ 28,980 | $ 27,085 |
Fair Values of Financial Instruments - Schedule of Estimated Fair Values of Recognized Financial Instruments Carried at Amortized Cost (Detail) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Financial assets | ||
| Securities held-to-maturity | $ 172,603 | $ 194,730 |
| Loans held for sale | 283 | |
| Mortgage Servicing Rights [Member] | ||
| Financial assets | ||
| Mortgage servicing rights | 621 | 600 |
| Carrying Value [Member] | ||
| Financial assets | ||
| Securities held-to-maturity | 204,309 | 226,279 |
| Loans held for sale | 283 | |
| Net loans | 730,046 | 694,797 |
| Financial liabilities | ||
| Deposits | 1,044,887 | 1,027,427 |
| Other borrowings | 1,266 | 1,754 |
| Carrying Value [Member] | Mortgage Servicing Rights [Member] | ||
| Financial assets | ||
| Mortgage servicing rights | 621 | 600 |
| Fair Value [Member] | ||
| Financial assets | ||
| Securities held-to-maturity | 172,603 | 194,730 |
| Loans held for sale | 290 | |
| Net loans | 691,816 | 663,510 |
| Financial liabilities | ||
| Deposits | 1,044,047 | 1,028,973 |
| Other borrowings | 1,111 | 1,546 |
| Fair Value [Member] | Mortgage Servicing Rights [Member] | ||
| Financial assets | ||
| Mortgage servicing rights | 621 | 600 |
| Fair Value [Member] | Level I [Member] | ||
| Financial assets | ||
| Loans held for sale | 290 | |
| Financial liabilities | ||
| Deposits | 801,634 | 835,847 |
| Fair Value [Member] | Level II [Member] | ||
| Financial assets | ||
| Securities held-to-maturity | 172,603 | 194,730 |
| Fair Value [Member] | Level III [Member] | ||
| Financial assets | ||
| Net loans | 691,816 | 663,510 |
| Financial liabilities | ||
| Deposits | 242,413 | 193,126 |
| Other borrowings | 1,111 | 1,546 |
| Fair Value [Member] | Level III [Member] | Mortgage Servicing Rights [Member] | ||
| Financial assets | ||
| Mortgage servicing rights | $ 621 | $ 600 |
Accumulated Other Comprehensive Loss - Schedule of Changes in Accumulated Other Comprehensive Loss by Component Net of Tax (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Accumulated Other Comprehensive Loss [Line Items] | ||
| Unrealized holding (loss) gain on available-for-sale securities arising during the period, Pretax | $ 2,166 | $ 3,168 |
| Beginning balance, After-tax | (10,270) | |
| Other comprehensive income | 1,850 | 2,649 |
| Ending Balance, After-tax | (8,420) | (10,270) |
| Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||
| Accumulated Other Comprehensive Loss [Line Items] | ||
| Beginning balance, Pretax | (12,999) | (16,354) |
| Unrealized holding (loss) gain on available-for-sale securities arising during the period, Pretax | 2,166 | 3,168 |
| Amortization of held-to-maturity discount resulting from transfer, Pretax | 176 | 187 |
| Total other comprehensive income (loss), Pretax | 2,342 | 3,355 |
| Ending balance, Pretax | (10,657) | (12,999) |
| Beginning balance, Tax Effect | 2,729 | 3,435 |
| Unrealized holding (loss) gain on available-for-sale securities arising during the period, Tax Effect | (455) | (666) |
| Amortization of held-to-maturity discount resulting from transfer, Tax Effect | (37) | (40) |
| Total other comprehensive income (loss), Tax Effect | (492) | (706) |
| Ending Balance, Tax Effect | 2,237 | 2,729 |
| Beginning balance, After-tax | (10,270) | (12,919) |
| Unrealized holding (loss) gain on available-for-sale securities arising during the period, After-Tax | 1,711 | 2,502 |
| Amortization of held-to-maturity discount resulting from transfer, After-tax | 139 | 147 |
| Other comprehensive income | 1,850 | 2,649 |
| Ending Balance, After-tax | $ (8,420) | $ (10,270) |
Contingent Liabilities - Additional Information (Detail) |
12 Months Ended |
|---|---|
Dec. 31, 2023 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Period of termination | 2 years |