EMBASSY BANCORP, INC., 10-K filed on 3/17/2023
Annual Report
v3.22.4
Document And Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2022
Mar. 10, 2023
Jun. 30, 2022
Document And Entity Information [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2022    
Document Transition Report false    
Current Fiscal Year End Date --12-31    
Document Fiscal Year Focus 2022    
Document Fiscal Period Focus FY    
Entity File Number 000-53528    
Entity Registrant Name Embassy Bancorp, Inc.    
Entity Incorporation, State or Country Code PA    
Entity Tax Identification Number 26-3339011    
Entity Address, Address Line One One Hundred Gateway Drive    
Entity Address, Address Line Two Suite 100    
Entity Address, City or Town Bethlehem    
Entity Address, State or Province PA    
Entity Address, Postal Zip Code 18017    
City Area Code 610    
Local Phone Number 882-8800    
Title of 12(g) Security Common Stock, Par Value $1.00 per share    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business true    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag false    
Entity Shell Company false    
Entity Public Float     $ 104,728,159
Entity Common Stock, Shares Outstanding   7,600,868  
Documents Incorporated by Reference Portions of the registrant’s definitive proxy statement for the 2023 annual meeting of shareholders are incorporated by reference into Part III of this report.    
Entity Central Index Key 0001449794    
Amendment Flag false    
Auditor Firm ID 23    
Auditor Location Allentown, Pennsylvania    
Auditor Name Baker Tilly US, LLP    
v3.22.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Cash and due from banks $ 21,927 $ 15,244
Interest bearing demand deposits with banks 44,368 153,448
Federal funds sold 1,000 1,000
Cash and Cash Equivalents 67,295 169,692
Securities available for sale 316,992 310,264
Restricted investment in bank stock 995 1,424
Loans receivable, net of allowance for loan losses of $12,449 in 2022; $11,484 in 2021 1,196,164 1,096,555
Paycheck Protection Program loans receivable 286 8,568
Premises and equipment, net of accumulated depreciation 3,843 3,994
Bank owned life insurance 25,603 25,796
Accrued interest receivable 2,926 2,603
Other assets 26,123 14,298
Total Assets 1,640,227 1,633,194
Deposits:    
Non-interest bearing 381,811 323,513
Interest bearing 1,139,296 1,143,512
Total Deposits 1,521,107 1,467,025
Securities sold under agreements to repurchase 13,384 11,252
Long-term borrowings   14,651
Accrued interest payable 986 652
Other liabilities 16,474 17,099
Total Liabilities 1,551,951 1,510,679
Stockholders' Equity:    
Common stock, $1 par value; authorized 20,000,000 shares; 2022 issued 7,739,785 shares; outstanding 7,586,991 shares; 2021 issued 7,687,919 shares; outstanding 7,541,776 shares 7,740 7,688
Surplus 27,627 26,963
Retained earnings 106,551 91,493
Accumulated other comprehensive loss (51,107) (1,194)
Treasury stock, at cost: 152,794 and 146,143 shares at December 31, 2022 and December 31, 2021, respectively (2,535) (2,435)
Total Stockholders' Equity 88,276 122,515
Total Liabilities and Stockholders' Equity $ 1,640,227 $ 1,633,194
v3.22.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Consolidated Balance Sheets [Abstract]    
Loans receivable, allowance $ 12,449 $ 11,484
Common Stock, Par Value $ 1 $ 1
Common Stock, Shares Authorized 20,000,000 20,000,000
Common Stock, Shares, Issued 7,739,785 7,687,919
Common Stock, Shares, Outstanding 7,586,991 7,541,776
Treasury Stock, Shares 152,794 146,143
v3.22.4
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
INTEREST INCOME    
Loans, including fees $ 42,022 $ 40,826
Paycheck Protection Program loans, including fees 184 2,747
Securities, taxable 5,921 2,765
Securities, non-taxable 1,196 1,014
Short-term investments, including federal funds sold 1,062 154
Total Interest Income 50,385 47,506
INTEREST EXPENSE    
Deposits 4,060 3,879
Securities sold under agreements to repurchase and federal funds purchased 24 8
Long-term borrowings 19 110
Paycheck Protection Program Liquidity Facility borrowings   15
Total Interest Expense 4,103 4,012
Net Interest Income 46,282 43,494
PROVISION FOR LOAN LOSSES 895 915
Net Interest Income after Provision for Loan Losses 45,387 42,579
OTHER NON-INTEREST INCOME    
Merchant and credit card processing fees 356 321
Debit card interchange fees 887 866
Other service fees 576 479
Bank owned life insurance 524 607
Gain on sale of securities   24
Gain on sale of other real estate owned   103
Total Other Non-Interest Income 2,343 2,400
OTHER NON-INTEREST EXPENSES    
Salaries and employee benefits 13,403 12,149
Occupancy and equipment 3,755 3,680
Data processing 3,220 2,941
Advertising and promotion 809 987
Professional fees 934 834
FDIC insurance 468 555
Loan & real estate 214 302
Charitable contributions 936 871
Other 1,998 1,808
Total Other Non-Interest Expenses 25,737 24,127
Income Before Income Taxes 21,993 20,852
INCOME TAX EXPENSE 4,291 4,066
Net Income $ 17,702 $ 16,786
BASIC EARNINGS PER SHARE $ 2.34 $ 2.23
DILUTED EARNINGS PER SHARE 2.34 2.22
DIVIDENDS PER SHARE $ 0.35 $ 0.30
v3.22.4
Consolidated Statements of Comprehensive (Loss) Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Consolidated Statements Of Comprehensive (Loss) Income [Abstract]    
Net Income $ 17,702 $ 16,786
Change in Accumulated Other Comprehensive Loss:    
Unrealized holding loss on securities available for sale (63,181) (5,205)
Less: reclassification adjustment for realized gains   (24)
Total other comprehensive loss, before tax (63,181) (5,229)
Income tax effect 13,268 1,098
Net unrealized loss (49,913) (4,131)
Total other comprehensive loss, net of tax (49,913) (4,131)
Comprehensive (Loss) Income $ (32,211) $ 12,655
v3.22.4
Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Common Stock [Member]
Director [Member]
Common Stock [Member]
Officer [Member]
Common Stock [Member]
Surplus [Member]
Director [Member]
Surplus [Member]
Officer [Member]
Surplus [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Loss [Member]
Treasury Stock [Member]
Director [Member]
Officer [Member]
Total
BALANCE-Beginning at Dec. 31, 2020     $ 7,637     $ 26,405 $ 76,960 $ 2,937 $ (1,765)     $ 112,174
Net income             16,786         16,786
Other comprehensive income loss, net of tax               (4,131)       (4,131)
Dividend declared and paid             (2,253)         (2,253)
Exercise of stock options     30     178           208
Stock tendered for funding exercise of stock options     (4)     (88)           (92)
Common stock grants $ 12     $ 174           $ 186    
Compensation expense recognized on stock grants, net of unearned compensation expense   $ 10     $ 236           $ 246  
Shares issued under employee stock purchase plan     3     58           61
Purchase of treasury stock                 (670)     (670)
BALANCE-Ending at Dec. 31, 2021     7,688     26,963 91,493 (1,194) (2,435)     122,515
Net income             17,702         17,702
Other comprehensive income loss, net of tax               (49,913)       (49,913)
Dividend declared and paid             (2,644)         (2,644)
Exercise of stock options     34     242           276
Stock tendered for funding exercise of stock options     (8)     (146)           (154)
Common stock grants $ 11     $ 212           $ 223    
Compensation expense recognized on stock grants, net of unearned compensation expense     12     292           304
Shares issued under employee stock purchase plan     3     64           67
Purchase of treasury stock                 (100)     (100)
BALANCE-Ending at Dec. 31, 2022     $ 7,740     $ 27,627 $ 106,551 $ (51,107) $ (2,535)     $ 88,276
v3.22.4
Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dividend declared and paid per share $ 0.35 $ 0.30
Exercise of stock options, shares 33,890 29,742
Stock tendered, shares 8,046 4,600
Unearned compensation expense on stock grants $ 642 $ 718
Shares issued under employee stock purchase plan, shares 3,390 3,254
Forfeiture of unvested common stock shares
Purchased Treasury Stock I [Member]    
Purchase treasury stock, shares 883 25,000
Purchased treasury stock, price per share $ 20.79 $ 16.65
Purchased Treasury Stock II [Member]    
Purchase treasury stock, shares 4,060 9,400
Purchased treasury stock, price per share $ 18.79 $ 19.60
Purchased Treasury Stock III [Member]    
Purchase treasury stock, shares 293 3,494
Purchased treasury stock, price per share $ 18.67 $ 20.00
Director [Member]    
Common stock grants, shares 10,701 12,009
Officer [Member]    
Common stock grants, shares 11,931 10,298
Forfeiture of unvested common stock shares 1,415  
Forfeiture of unvested common stock grants cost basis $ 0.00  
v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 17,702 $ 16,786
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 895 915
Amortization of deferred loan costs 182 136
Accretion of deferred Paycheck Protection Program loan fees (165) (2,388)
Depreciation 883 864
Net (accretion) amortization of investment security premiums and discounts (405) 65
Stock compensation expense 527 432
Net realized gain on sale of other real estate owned   (103)
Income on bank owned life insurance (524) (607)
Deferred income taxes (348) (258)
Realized gain on sale of securities available for sale   (24)
(Increase) decrease in accrued interest receivable (323) 533
Decrease in other assets 1,778 800
Increase (decrease) in accrued interest payable 334 (988)
Decrease in other liabilities (625) (914)
Net Cash Provided by Operating Activities 19,911 15,249
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of securities available for sale (93,347) (236,159)
Maturities, calls and principal repayments of securities available for sale 23,843 48,232
Proceeds from sales of securities available for sale 0 3,333
Net increase in loans (100,686) (18,279)
Net decrease in Paycheck Protection Program loans 8,447 48,154
Net redemption (purchase) of restricted investment in bank stock 429 (94)
Proceeds from sale of other real estate owned   115
Purchases of premises and equipment (719) (1,512)
Death benefit proceeds on bank owned life insurance 717  
Net Cash Used in Investing Activities (161,316) (156,210)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 54,082 234,646
Net increase (decrease) in securities sold under agreements to repurchase 2,132 (2,360)
Proceeds from Employee Stock Purchase Plan 67 61
Repayment of long-term borrowed funds (14,651)  
Repayment of Paycheck Protection Program Liquidity Facility borrowed funds   (50,794)
Purchase of treasury stock (100) (670)
Exercise of stock options, net payment for stock tendered 122 116
Dividends paid (2,644) (2,253)
Net Cash Provided by Financing Activities 39,008 178,746
Net (Decrease) Increase in Cash and Cash Equivalents (102,397) 37,785
CASH AND CASH EQUIVALENTS - BEGINNING 169,692 131,907
CASH AND CASH EQUIVALENTS - ENDING 67,295 169,692
SUPPLEMENTARY CASH FLOWS INFORMATION    
Interest paid 3,769 5,000
Income taxes paid $ 4,268 4,634
Non-cash Investing and Financing Activities:    
Other real estate acquired in settlement of loans   12
Right of use assets obtained in exchange for new operating lease liabilities   $ 1,233
v3.22.4
Summary Of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2022
Summary Of Significant Accounting Policies [Abstract]  
Summary Of Significant Accounting Policies Note 1 – Summary of Significant Accounting Policies

Principles of Consolidation and Nature of Operations

Embassy Bancorp, Inc. (the “Company”) is a Pennsylvania corporation organized in 2008 and registered as a bank holding company pursuant to the Bank Holding Company Act of 1956, as amended (the “BHC Act”). The Company was formed for purposes of acquiring Embassy Bank For The Lehigh Valley (the “Bank”) in connection with the reorganization of the Bank into a bank holding company structure, which was consummated on November 11, 2008. Accordingly, the Company owns all of the capital stock of the Bank, giving the organization more flexibility in meeting its capital needs as the Company continues to grow.

The Bank, which is the Company’s principal operating subsidiary, was originally incorporated as a Pennsylvania bank on May 11, 2001 and opened its doors on November 6, 2001. It was formed by a group of local business persons and professionals with significant prior experience in community banking in the Lehigh Valley area of Pennsylvania, the Bank’s primary market area.

Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of other-than-temporary impairment on available for sale debt securities, and the determination of the allowance for loan losses.

Concentrations of Credit Risk

Most of the Company’s activities are with customers located in the Lehigh Valley area of Pennsylvania. Note 2 discusses the types of securities in which the Company invests. The concentrations of credit by type of loan are set forth in Note 3. The Company does not have any significant concentrations to any one specific industry or customer, with the exception of lending activity to a broad range of lessors of residential and non-residential real estate within the Lehigh Valley. Although the Company has a diversified loan portfolio, its debtors’ ability to honor their contracts is influenced by the region’s economy.

Presentation of Cash Flows

For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, interest-bearing demand deposits with banks, and federal funds sold. Generally, federal funds are purchased or sold for less than one week periods.

Securities

Securities classified as available for sale are those securities that the Company intends to hold for an indefinite period of time, but not necessarily to maturity. Securities available for sale are carried at fair value. Any decision to sell a security classified as available for sale would be based on various factors, including significant movement in interest rates, changes in maturity mix of the Company’s assets and liabilities, liquidity needs, regulatory capital considerations and other similar factors. Unrealized gains and losses are reported as increases or decreases in other comprehensive (loss) income. Realized gains or losses, determined on the basis of the cost of the specific securities sold, are included in earnings. Premiums and discounts are recognized in interest income using the interest method over the terms of the securities.

Other-than-temporary accounting guidance specifies that (a) if a company does not have the intent to sell a debt security prior to recovery and (b) it is more likely than not that it will not have to sell the debt security prior to recovery, the security would not be considered other-than-temporarily impaired unless there is a credit loss. When an entity does not intend to sell the security, and it is more likely than not the entity will not have to sell the security before recovery of its cost basis, it will recognize the credit component of an other-than-temporary impairment of a debt security in earnings and the remaining portion in other comprehensive income. The Company recognized no other-than-temporary impairment charges during the years ended December 31, 2022 and 2021.

Restricted Investments in Bank Stock

Restricted investments in bank stock consist of FHLBank Pittsburgh (“FHLB”) stock and Atlantic Community Bankers Bank (“ACBB”) stock. The restricted stocks have no quoted market value and are carried at cost. Federal law requires a member institution of the FHLB to hold stock of its district FHLB according to a predetermined formula.

Management evaluates the FHLB and ACBB restricted stock for impairment. Management’s determination of whether these investments are impaired is based on their assessment of the ultimate recoverability of their cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of their cost is influenced by criteria such as (1) the significance of the decline in net assets of the issuer as compared to the capital stock amount for the issuer and the length of time this situation has persisted, (2) commitments by the issuer to make payments required by law or regulation and the level of such payments in relation to the operating performance of the issuer, and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the issuer.

Management believes no impairment charge is necessary related to the FHLB or ACBB restricted stock as of December 31, 2022. No impairment charge was taken related to the FHLB or ACBB restricted stock as of December 31, 2021.

Loans Receivable

Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of any deferred fees or costs. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield using the effective interest method.  Premiums and discounts on purchased loans are amortized as adjustments to interest income using the effective interest method.  Delinquency fees are recognized in income when collected.

As described in Note 3, the Company has presented Paycheck Protection Program (“PPP”) loans separately from loans receivable on the Consolidated Balance Sheets. The non-PPP loans receivable portfolio is segmented into commercial and consumer loans. Commercial loans consist of the following classes: commercial real estate, commercial construction and commercial. Consumer loans consist of the following classes: residential real estate and other consumer loans.

The Company makes commercial loans for real estate development and other business purposes required by the customer base. The Company’s credit policies determine advance rates against the different forms of collateral that can be pledged against commercial loans. Typically, the majority of loans will be limited to a percentage of their underlying collateral values such as real estate values, equipment, eligible accounts receivable and inventory. Individual loan advance rates may be higher or lower depending upon the financial strength of the borrower and/or term of the loan. The assets financed through commercial loans are used within the business for its ongoing operation. Repayment of these kinds of loans generally comes from the cash flow of the business or the ongoing conversion of assets. Commercial real estate loans include long-term loans financing commercial properties. Repayments of these loans are dependent upon either the ongoing cash flow of the borrowing entity or the resale of or lease of the subject property. Commercial real estate loans typically require a loan to value ratio of not greater than 80% and vary in terms.

Residential mortgages and home equity loans are secured by the borrower’s residential real estate in either a first or second lien position. Residential mortgages and home equity loans have varying interest rates (fixed or variable) depending on the financial condition of the borrower and the loan to value ratio. Residential mortgages may have amortizations up to 30 years and home equity loans may have maturities up to 25 years. Other consumer loans include installment loans, car loans, and overdraft lines of credit. Some of these loans may be unsecured.

For all classes of loans receivable, the accrual of interest may be discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan is currently performing. A loan may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed. Interest received on nonaccrual loans, including impaired loans, generally is applied against principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six months) and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments.

Allowance for Loan Losses

The allowance for loan losses represents management’s estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans, or portions of loans, determined to be confirmed losses are charged against the allowance account and subsequent recoveries, if any, are credited to the account. A loss is considered confirmed when information available at the balance sheet date indicates the loan, or a portion thereof, is uncollectible. As further described in Note 3, because of the 100% Small Business Administration’s (“SBA”) guarantee, the Company has determined that no allowance for loan losses is required on PPP loans.

Management performs a quarterly evaluation of the adequacy of the allowance.  The allowance is based on the Company’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available.

Management maintains the allowance for loan losses at a level it believes adequate to absorb probable credit losses related to specifically identified loans, as well as probable incurred losses inherent in the remainder of the loan portfolio as of the balance sheet dates. The allowance for loan losses account consists of specific and general reserves.

For the specific portion of the allowance for loan losses, a loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. All amounts due according to the contractual terms means that both the contractual interest and principal payments of a loan will be collected as scheduled in the loan agreement. Factors considered by management in determining impairment include payment status, ability to pay and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Loans considered impaired are measured for impairment based on the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. If the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral, if the loan is collateral dependent, is less than the recorded investment in the loan, including accrued interest and net deferred loan fees or costs, the Company will recognize the impairment by adjusting the allowance for loan losses account through charges to earnings as a provision for loan losses.

For loans secured by real estate, estimated fair values are determined primarily through third-party appraisals. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of

the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, loan-to-value ratio based on the original appraisal and the condition of the property. Appraised values are discounted to arrive at the estimated selling price of the collateral, which is considered to be the estimated fair value. The discounts also include estimated costs to sell the property.

For commercial and industrial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets.

The general portion of the allowance for loan losses covers pools of loans by major loan class including commercial loans not considered impaired, as well as smaller balance homogeneous loans, such as residential real estate and other consumer loans. Loss contingencies for each of the major loan pools are determined by applying a total loss factor to the current balance outstanding for each individual pool. The total loss factor is comprised of a historical loss factor using the loss migration method plus a qualitative factor, which adjusts the historical loss factor for changes in trends, conditions and other relevant factors that may affect repayment of the loans in these pools as of the evaluation date. Loss migration involves determining the percentage of each pool that is expected to ultimately result in loss based on historical loss experience. Historical loss factors are based on the ratio of net loans charged-off to loans, net, for each of the major groups of loans. The historical loss factor for each pool, includes but is not limited to, an average of the Company’s historical net charge-off ratio for the most recent rolling four years plus current year to date.

In addition to these historical loss factors, management also uses a qualitative factor that represents a number of environmental risks that may cause estimated credit losses associated with the current portfolio to differ from historical loss experience. These environmental risks include: (i) changes in lending policies and procedures including underwriting standards and collection, charge-off and recovery practices; (ii) changes in the composition and volume of the portfolio; (iii) changes in national, local and industry conditions, including the effects of such changes on the value of underlying collateral for collateral-dependent loans; (iv) changes in the volume and severity of classified loans, including past due, nonaccrual, troubled debt restructures and other loan modifications; (v) changes in the levels of, and trends in, charge-offs and recoveries; (vi) the existence and effect of any concentrations of credit and changes in the level of such concentrations; (vii) changes in the experience, ability and depth of lending management and other relevant staff; (viii) changes in the quality of the loan review system and the degree of oversight by the board of directors; and (ix) the effect of external factors such as competition and regulatory requirements on the level of estimated credit losses in the current loan portfolio. Each environmental risk factor is assigned a value to reflect improving, stable or declining conditions based on management’s best judgment using relevant information available at the time of the evaluation. Adjustments to the factors are supported through documentation of changes in conditions in a narrative accompanying the allowance for loan loss calculation. In 2021 and 2022, the Bank adjusted the economic risk factor and other external factor methodologies to incorporate the current economic implications of inflation rates, gas prices, supply chain disruptions, and any future interest rate increases. All loans that received a CARES Act Section 4013 modification are provided additional qualitative reserve in the Company’s allowance for loan loss calculation.

The unallocated component of the general allowance is used to cover inherent losses that exist as of the evaluation date, but which have not been identified as part of the allocated allowance using the above impairment evaluation methodology due to limitations in the process. One such limitation is the imprecision of accurately estimating the impact current economic conditions will have on historical loss rates. Variations in the magnitude of impact may cause estimated credit losses associated with the current portfolio to differ from historical loss experience, resulting in an allowance that is higher or lower than the anticipated level.

The allowance calculation methodology includes further segregation of loan classes into risk rating categories. The borrower’s overall financial condition, repayment sources, guarantors, and value of collateral, if appropriate, are evaluated annually for commercial loans or when credit deficiencies arise, such as delinquent loan payment, for commercial and consumer loans. Credit quality risk ratings include regulatory classifications of special mention, substandard, doubtful and loss. Loans criticized as special mention have potential weaknesses that deserve management’s close attention. If uncorrected, the potential weakness may result in deterioration of the repayment prospects. Loans classified substandard have a well-defined weakness and borrowers are highly leveraged. They

include loans that are inadequately protected by the current sound net worth and the paying capacity of the obligor or of the collateral pledged, if any. Loans classified doubtful have all the weaknesses inherent in loans classified substandard with the added characteristic that collection or liquidation in full, on the basis of current conditions and facts, is highly improbable. Loans classified as a loss are considered uncollectible and are charged to the allowance for loan losses. Loans not classified are rated pass.

Federal regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses and may require the Company to recognize additions to the allowance based on their judgments about information available to them at the time of their examination, which may not be currently available to management. Based on management’s comprehensive analysis of the loan portfolio, management believes the current level of the allowance for loan losses is adequate.

Other Real Estate Owned

Other real estate owned is comprised of properties acquired through foreclosure proceedings or acceptance of a deed-in-lieu of foreclosure and loans classified as in-substance foreclosures.  A loan is classified as an in-substance foreclosure when the Company has taken possession of the collateral, regardless of whether formal foreclosure proceedings take place. Other real estate owned is recorded at fair value less cost to sell at the time of acquisition. Any excess of the loan balance over the recorded value is charged to the allowance for loan losses at the time of acquisition. After foreclosure, valuations are periodically performed and the assets are carried at the lower of cost or fair value less cost to sell. Changes in the valuation allowance on foreclosed assets are included in other non-interest income. Costs to maintain the assets are included in other non-interest expenses. Any gain or loss realized upon disposal of other real estate owned is included in other non-interest income. There were no foreclosed assets as of December 31, 2022 and 2021.

Bank Owned Life Insurance

The Company invests in bank owned life insurance (“BOLI”) as a tax deferred investment and a source of funding for employee benefit expenses. BOLI involves the purchasing of life insurance by the Company on certain of its employees and directors. The Company is the owner and primary beneficiary of the policies. This life insurance investment is carried at the cash surrender value of the underlying policies. Income from increases in cash surrender value of the policies is included in non-interest income and is not subject to income taxes unless surrendered. The Company does not intend to surrender these policies, and accordingly, no deferred taxes have been recorded on the earnings from these policies.

Premises and Equipment

Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the following estimated useful lives of the related assets: furniture, fixtures and equipment for five years to ten years, leasehold improvements for the life of the lease, building for forty years, computer equipment and data processing software for one year to five years, and automobiles for five years.

Transfers of Financial Assets

Transfers of financial assets, including sales of loan participations, 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 that constrain 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.


‎

Advertising Costs

The Company follows the policy of charging the costs of advertising to expense as incurred.

Income Taxes

Income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to taxable income. Deferred income taxes are provided on the asset and liability method whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and net operating loss carry forwards and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Earnings Per Share

Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period, as adjusted for stock dividends and splits. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method.

Year Ended December 31,

2022

2021

(Dollars In Thousands, Except Per Share Data)

Net income

$

17,702

$

16,786

Weighted average shares outstanding

7,554,790

7,517,669

Dilutive effect of potential common

shares, stock options

16,438

37,116

Diluted weighted average common

shares outstanding

7,571,228

7,554,785

Basic earnings per share

$

2.34

$

2.23

Diluted earnings per share

$

2.34

$

2.22

There were no stock options not considered in computing diluted earnings per common share for the years ended December 31, 2022 and December 31, 2021.

Employee Benefit Plan

The Company has a 401(k) Plan (the “Plan”) for employees. All employees are eligible to participate after they have attained the age of 21 and have also completed 6 consecutive months of service during which at least 500 hours of service are completed. The employees may contribute up to the maximum percentage allowable by law of their compensation to the Plan, and the Company provides a match of fifty percent of the first 8% percent to eligible participating employees. Full vesting in the Plan is prorated equally over a four year period. The Company’s contributions to the Plan for the years ended December 31, 2022 and 2021 were $284 thousand and $278 thousand, respectively.


‎

Off Balance Sheet Financial Instruments

In the ordinary course of business, the Company has entered into off-balance sheet financial instruments consisting of commitments to extend credit and letters of credit. Such financial instruments are recorded in the consolidated balance sheet when they are funded.

Comprehensive (Loss) Income

US GAAP requires that recognized revenue, expenses, gains, and losses be included 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 sheet, such items, along with net income, are components of comprehensive income.

Stock-Based Compensation

The Company measures and records compensation expense for share-based payments based on the instrument's fair value on the date of grant. The fair value of each stock option grant is measured using the Black-Scholes option pricing model. The fair value of stock awards is based on the Company's stock price. Share-based compensation expense is recognized over the service period, generally defined as the vesting period.

Non-Interest Income

The majority of the Company’s revenue-generating transactions are not subject to Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, including revenue generated from financial instruments, such as its loans and investment securities, as these activities are subject to other US GAAP discussed elsewhere within the Company’s disclosures. Descriptions of the Company’s revenue-generating activities that are within the scope of Topic 606, which are presented in the consolidated statement of income as components of non-interest income, are merchant processing and credit card processing fees, debit card interchange fees, other service fees on deposit accounts, and gains and losses on other real estate owned. Credit card processing fees include income from consumer and commercial credit cards and merchant processing income. Income for such performance obligations are generally received at the time the performance obligations are satisfied or within the monthly service period. Service fees on deposit accounts represent general service fees for monthly account maintenance and activity or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when the Company’s performance obligation is completed, which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). The Company recognizes debit card interchange fees daily from debit cardholder transactions conducted through the MasterCard payment network. The Company records a gain or loss from the sale of other real estate owned when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of other real estate owned to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction prices and related gain or loss on the sale if a significant financing component is present. The Company does not sell its mortgages on the secondary market, nor does it offer trust or investment brokerage services to its customers to generate fee income.

Subsequent Events

The Company has evaluated events and transactions occurring subsequent to the balance sheet date of December 31, 2022 through the date these consolidated financial statements were available for issuance for items that should potentially be recognized or disclosed in these consolidated financial statements.


‎

Future Accounting Standards

In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments - Credit Losses”. ASU 2016-13 requires entities to report “expected” credit losses on financial instruments and other commitments to extend credit rather than the current “incurred loss” model. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU will also require enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. In November 2019, the FASB issued an update to defer the implementation date for smaller reporting companies from 2020 to 2023. The Company currently qualifies as a smaller reporting company under SEC Regulation S-K and, therefore, the guidance is effective for the Company in 2023. Management has gathered all necessary data and selected a method to calculate the expected credit losses. The Company will adopt ASU 2016-13 on January 1, 2023 using the modified retrospective approach. Based on implementation efforts to date, management expects to make an immaterial adjustment to opening retained earnings as a result of its adoption of this standard. The Company is in the process of finalizing its operational and control structure supporting the process.

Reclassification

Certain amounts in the 2021 consolidated financial statements may have been reclassified to conform to 2022 presentation. These reclassifications had no effect on 2021 net income.
v3.22.4
Securities Available For Sale
 12 Months Ended
Dec. 31, 2022
Securities Available For Sale [Abstract]  
Securities Available For Sale Note 2 – Securities Available For Sale

The amortized cost and approximate fair values of securities available-for-sale were as follows at December 31, 2022 and 2021, respectively:

Gross

Gross

Amortized

Unrealized

Unrealized

Fair

Cost

Gains

Losses

Value

(In Thousands)

December 31, 2022:

U.S. Treasury securities

$

17,217

$

-

$

(446)

$

16,771

U.S. Government agency obligations

34,069

-

(1,518)

32,551

Municipal bonds

73,958

112

(15,453)

58,617

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - commercial

510

-

(76)

434

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - residential

255,930

2

(47,313)

208,619

Total

$

381,684

$

114

$

(64,806)

$

316,992

December 31, 2021:

U.S. Government agency obligations

$

29,146

$

-

$

(288)

$

28,858

Municipal bonds

60,017

1,464

(377)

61,104

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - commercial

511

19

-

530

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - residential

222,101

885

(3,214)

219,772

Total

$

311,775

$

2,368

$

(3,879)

$

310,264


‎

The amortized cost and fair value of securities as of December 31, 2022, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without any penalties.

Amortized

Fair

Cost

Value

(In Thousands)

Due in one year or less

$

34,369

$

33,024

Due after one year through five years

19,053

18,352

Due after five years through ten years

5,363

5,135

Due after ten years

66,459

51,428

125,244

107,939

U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial

510

434

U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential

255,930

208,619

$

381,684

$

316,992

There were no sales of securities for the year ended December 31, 2022. Gross gains of $24 thousand were realized on the sales of securities for the year ended December 31, 2021. There were no gross losses on the sales of securities for the year ended December 31, 2021.

The following table shows the Company’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2022 and December 31, 2021, respectively:

Less Than 12 Months

12 Months or More

Total

Fair Value

Unrealized Losses

Fair Value

Unrealized Losses

Fair Value

Unrealized Losses

December 31, 2022 :

(In Thousands)

U.S. Treasury securities

$

16,771

$

(446)

$

-

$

-

$

16,771

$

(446)

U.S. Government agency obligations

-

-

32,551

(1,518)

32,551

(1,518)

Municipal bonds

32,103

(6,308)

22,099

(9,145)

54,202

(15,453)

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - commercial

434

(76)

-

-

434

(76)

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - residential

32,203

(3,166)

176,281

(44,147)

208,484

(47,313)

Total Temporarily Impaired Securities

$

81,511

$

(9,996)

$

230,931

$

(54,810)

$

312,442

$

(64,806)

December 31, 2021 :

U.S. Government agency obligations

$

9,911

$

(84)

$

18,947

$

(204)

$

28,858

$

(288)

Municipal bonds

20,722

(377)

-

-

20,722

(377)

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - residential

190,435

(3,214)

-

-

190,435

(3,214)

Total Temporarily Impaired Securities

$

221,068

$

(3,675)

$

18,947

$

(204)

$

240,015

$

(3,879)

The Company had one hundred ninety four (194) securities in an unrealized loss position at December 31, 2022 and seventy (70) securities in an unrealized loss position at December 31, 2021. As of December 31, 2022, the Company either has the intent and ability to hold the securities until maturity or market price recovery or believes that it is more likely than not that it will not be required to sell such securities. Management believes that the unrealized loss only

represents temporary impairment of the securities, which are predominantly backed by credit of government agencies, and are a result of the increasing market interest rates in 2022 due to the current economic conditions, and not the credit quality of the issuer.

Securities with a carrying value of $147.2 million and $114.0 million at December 31, 2022 and December 31, 2021, respectively, were subject to agreements to repurchase, pledged to secure public deposits, or pledged for other purposes required or permitted by law.
v3.22.4
Loans Receivable and Credit Quality
 12 Months Ended
Dec. 31, 2022
Loans Receivable And Credit Quality [Abstract]  
Loans Receivable And Credit Quality Note 3 – Loans Receivable and Credit Quality

The Company has presented PPP loans of $286 thousand at December 31, 2022 and $8.6 million, net of $165 thousand of unearned origination fees and costs, at December 31, 2021, respectively, separately from loans receivable on the Consolidated Balance Sheets. PPP loans are 100% SBA guaranteed and the Company has determined that no allowance for loan losses is required on PPP loans. All PPP loans are risk rated as pass. The Company has only two (2) PPP loans remaining at December 31, 2022. PPP loans are excluded in the following composition and credit quality tables.

The following table presents the composition of loans receivable (excluding PPP loans):

December 31,

2022

2021

(In Thousands)

Commercial real estate

$

507,300

$

440,655

Commercial construction

16,761

6,100

Commercial

39,520

41,923

Residential real estate

643,975

618,694

Consumer

782

642

Total Loans

1,208,338

1,108,014

Unearned net loan origination costs

275

25

Allowance for Loan Losses

(12,449)

(11,484)

Net Loans

$

1,196,164

$

1,096,555

The following table summarizes information in regard to the allowance for loan losses (excluding PPP loans) as of December 31, 2022 and 2021, respectively:

Commercial Real Estate

Commercial Construction

Commercial

Residential Real Estate

Consumer

Unallocated

Total

(In Thousands)

Allowance for loan losses

Year Ending December 31, 2022

Beginning Balance - December 31, 2021

$

4,400 

$

71 

$

1,328 

$

4,718 

$

14 

$

953 

$

11,484 

Charge-offs

-

-

-

-

-

-

-

Recoveries

-

-

-

70 

-

-

70 

Provisions

713 

129 

(39)

172 

(1) 

(79)

895 

Ending Balance - December 31, 2022

$

5,113 

$

200 

$

1,289 

$

4,960 

$

13 

$

874 

$

12,449 

Year Ending December 31, 2021

Beginning Balance - December 31, 2020

$

4,379 

$

150 

$

848 

$

4,485 

$

14 

$

694 

$

10,570 

Charge-offs

-

-

-

(2)

(2)

-

(4)

Recoveries

-

-

-

3 

-

-

3 

Provisions

21 

(79)

480 

232 

2 

259 

915 

Ending Balance - December 31, 2021

$

4,400 

$

71 

$

1,328 

$

4,718 

$

14 

$

953 

$

11,484 

The following tables represent the allocation of the allowance for loan losses and the related loan portfolio, (excluding PPP loans), disaggregated based on impairment methodology at December 31, 2022 and December 31, 2021, respectively:

Commercial Real Estate

Commercial Construction

Commercial

Residential Real Estate

Consumer

Unallocated

Total

(In Thousands)

December 31, 2022

Allowance for Loan Losses

Ending Balance

$

5,113

$

200

$

1,289

$

4,960

$

13

$

874

$

12,449

Ending balance: individually evaluated for impairment

$

-

$

29

$

33

$

107

$

-

$

-

$

169

Ending balance: collectively evaluated for impairment

$

5,113

$

171

$

1,256

$

4,853

$

13

$

874

$

12,280

Loans receivable:

Ending balance

$

507,300

$

16,761

$

39,520

$

643,975

$

782

$

1,208,338

Ending balance: individually evaluated for impairment

$

1,371

$

303

$

240

$

1,317

$

-

$

3,231

Ending balance: collectively evaluated for impairment

$

505,929

$

16,458

$

39,280

$

642,658

$

782

$

1,205,107

December 31, 2021

Allowance for Loan Losses

Ending Balance

$

4,400

$

71

$

1,328

$

4,718

$

14

$

953

$

11,484

Ending balance: individually evaluated for impairment

$

-

$

7

$

41

$

116

$

-

$

-

$

164

Ending balance: collectively evaluated for impairment

$

4,400

$

64

$

1,287

$

4,602

$

14

$

953

$

11,320

Loans receivable:

Ending balance

$

440,655

$

6,100

$

41,923

$

618,694

$

642

$

1,108,014

Ending balance: individually evaluated for impairment

$

1,433

$

311

$

248

$

1,508

$

-

$

3,500

Ending balance: collectively evaluated for impairment

$

439,222

$

5,789

$

41,675

$

617,186

$

642

$

1,104,514


‎

The following table summarizes information in regard to impaired loans (excluding PPP loans) by loan portfolio class as of December 31, 2022 and 2021, respectively:

Year to Date

Recorded Investment

Unpaid Principal Balance

Related Allowance

Average Recorded Investment

Interest Income Recognized

December 31, 2022

(In Thousands)

With no related allowance recorded:

Commercial real estate

$

1,371

$

1,611

$

1,395

$

66

Commercial construction

55

55

55

3

Commercial

-

-

-

-

Residential real estate

768

772

719

30

Consumer

-

-

-

-

With an allowance recorded:

Commercial real estate

$

-

$

-

$

-

$

-

$

-

Commercial construction

248

248

29

251

8

Commercial

240

240

33

243

10

Residential real estate

549

549

107

560

20

Consumer

-

-

-

-

-

Total:

Commercial real estate

$

1,371

$

1,611

$

-

$

1,395

$

66

Commercial construction

303

303

29

306

11

Commercial

240

240

33

243

10

Residential real estate

1,317

1,321

107

1,279

50

Consumer

-

-

-

-

-

$

3,231

$

3,475

$

169

$

3,223

$

137

December 31, 2021

With no related allowance recorded:

Commercial real estate

$

1,433

$

1,673

$

981

$

69

Commercial construction

55

55

249

2

Commercial

-

-

-

-

Residential real estate

932

1,002

1,283

36

Consumer

-

-

-

-

With an allowance recorded:

Commercial real estate

$

-

$

-

$

-

$

513

$

-

Commercial construction

256

256

7

64

8

Commercial

248

248

41

232

10

Residential real estate

576

576

116

586

21

Consumer

-

-

-

-

-

Total:

Commercial real estate

$

1,433

$

1,673

$

-

$

1,494

$

69

Commercial construction

311

311

7

313

10

Commercial

248

248

41

232

10

Residential real estate

1,508

1,578

116

1,869

57

Consumer

-

-

-

-

-

$

3,500

$

3,810

$

164

$

3,908

$

146


‎

The following table presents the classes of the loan portfolio (excluding PPP loans), summarized by the aggregate pass rating and the classified ratings of special mention (potential weaknesses), substandard (well defined weaknesses) and doubtful (full collection unlikely) within the Company's internal risk rating system as of December 31, 2022 and December 31, 2021, respectively:

Pass

Special Mention

Substandard

Doubtful

Total

December 31, 2022

(In Thousands)

Commercial real estate

$

505,983

$

-

$

1,317

$

-

$

507,300

Commercial construction

16,458

-

303

-

16,761

Commercial

39,498

22

-

-

39,520

Residential real estate

642,913

467

595

-

643,975

Consumer

782

-

-

-

782

Total

$

1,205,634

$

489

$

2,215

$

-

$

1,208,338

December 31, 2021

Commercial real estate

$

439,280

$

-

$

1,375

$

-

$

440,655

Commercial construction

5,789

-

311

-

6,100

Commercial

41,899

24

-

-

41,923

Residential real estate

617,533

489

672

-

618,694

Consumer

642

-

-

-

642

Total

$

1,105,143

$

513

$

2,358

$

-

$

1,108,014

The following table presents nonaccrual loans by classes of the loan portfolio:

December 31,

2022

2021

(In Thousands)

Commercial real estate

$

-

$

-

Commercial construction

-

-

Commercial

-

-

Residential real estate

192

242

Consumer

-

-

Total

$

192

$

242


‎

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 (excluding PPP loans) summarized by the past due status as of December 31, 2022 and 2021, respectively:

30-59 Days Past Due

60-89 Days Past Due

Greater than 90 Days Past Due

Total Past Due

Current

Total Loan
‎Receivables

Loan Receivables > 90 Days and Accruing

December 31, 2022

(In Thousands)

Commercial real estate

$

-

$

-

$

-

$

-

$

507,300

$

507,300

$

-

Commercial construction

-

-

-

-

16,761

16,761

-

Commercial

32

-

-

32

39,488

39,520

-

Residential real estate

138

-

192

330

643,645

643,975

-

Consumer

-

-

-

-

782

782

-

Total

$

170

$

-

$

192

$

362

$

1,207,976

$

1,208,338

$

-

December 31, 2021

Commercial real estate

$

-

$

-

$

-

$

-

$

440,655

$

440,655

$

-

Commercial construction

-

-

-

-

6,100

6,100

-

Commercial

-

-

-

-

41,923

41,923

-

Residential real estate

-

12

217

229

618,465

618,694

-

Consumer

-

-

-

-

642

642

-

Total

$

-

$

12

$

217

$

229

$

1,107,785

$

1,108,014

$

-

At December 31, 2022, the Company had no foreclosed assets or recorded investment in consumer mortgage loans collateralized by residential real estate in the process of foreclosure. At December 31, 2021, the Company had $217 thousand in recorded investment in one (1) consumer mortgage loan collateralized by real estate property that was in the process of foreclosure. In April 2022, the borrower repaid the loan in full with no loss to the Company.

Troubled Debt Restructurings

The Company may grant a concession or modification for economic or legal reasons related to a borrower’s financial condition that it would not otherwise consider, resulting in a modified loan which is then identified as a troubled debt restructuring (“TDR”). The Company may modify loans through rate reductions, extensions to maturity, interest only payments, or payment modifications to better coincide the timing of payments due under the modified terms with the expected timing of cash flows from the borrowers’ operations. Loan modifications are intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. TDRs are considered impaired loans for purposes of calculating the Company’s allowance for loan losses.

The Company identifies loans for potential restructure primarily through direct communication with the borrower and the evaluation of the borrower’s financial statements, revenue projections, tax returns, and credit reports.  Even if the borrower is not presently in default, management will consider the likelihood that cash flow shortages, adverse economic conditions, and negative trends may result in a payment default in the near future.


‎

The following table presents TDRs outstanding at December 31, 2022 and 2021, respectively:

Accrual Loans

Non-Accrual Loans

Total Modifications

(In Thousands)

December 31, 2022

Commercial real estate

$

986 

$

-

$

986 

Commercial construction

248 

-

248 

Commercial

240 

-

240 

Residential real estate

708 

-

708 

Consumer

-

-

-

Total

$

2,182 

$

-

$

2,182 

December 31, 2021

Commercial real estate

$

1,027 

$

-

$

1,027 

Commercial construction

256 

-

256 

Commercial

248 

-

248 

Residential real estate

806 

13 

819 

Consumer

-

-

-

Total

$

2,337 

$

13 

$

2,350 

There were no new TDRs during the year ended December 31, 2022. The following table presents new TDRs during the year ended December 31, 2021:

Number of Loans

Pre-Modification Outstanding Balance

Post- Modification Outstanding Balance

(Dollars In Thousands)

Year Ending December 31, 2021

Commercial

1

$

24

$

24

1

$

24

$

24

The TDR listed above, consisting of a six-month interest only period, required an impairment reserve of $24 thousand recorded in the allowance for loan losses at December 31, 2021. As December 31, 2022 and 2021, no available commitments were outstanding on TDRs.

There were no loans that were modified and classified as a TDR within the prior twelve months that experienced a payment default (loans ninety or more days past due) during the years ended December 31, 2022 and December 31, 2021.

Beginning in 2020 and through early 2021, the Company provided certain borrowers affected in a variety of ways by COVID-19 with payment accommodations that facilitated their ability to work through the immediate impact of the virus. Payment accommodations related to COVID-19 assistance were in the form of short-term (six months or less) principal and/or interest deferrals and the loans were considered current at the time of the accommodation. These payment accommodations were made in accordance with Section 4013 of the CARES Act and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus and the Company did not categorize these modifications as troubled debt restructurings. As of December 31, 2022, the Company had one hundred fifty-eight (158) loans totaling $98.9 million, for which the payment accommodation period had ended and the loans had resumed payments under their original contractual terms. As of December 31, 2021, the Company had one hundred ninety-nine (199) loans totaling $116.4 million, for which the payment accommodation period had ended and the loans had resumed payments under their original contractual terms.
v3.22.4
Financial Instruments With Off-Balance Sheet Risk
 12 Months Ended
Dec. 31, 2022
Financial Instruments With Off-Balance Sheet Risk [Abstract]  
Financial Instruments With Off-Balance Sheet Risk Note 4 - Financial Instruments with Off-Balance Sheet Risk

The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets.

The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments.

The following financial instruments were outstanding whose contract amounts represent credit risk:

December 31,

2022

2021

(In Thousands)

Commitments to grant loans, fixed

$

4,302 

$

1,877 

Commitments to grant loans, variable

1,500 

-

Unfunded commitments under lines of credit, fixed

50,359 

17,618 

Unfunded commitments under lines of credit, variable

133,065 

135,660 

Standby letters of credit

9,124 

9,522 

Total

$

198,350 

$

164,677 

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. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. 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.

Collateral held varies but may include personal or commercial real estate, accounts receivable, inventory and equipment.

Outstanding letters of credit written are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. The majority of these standby letters of credit expire within the next twelve months. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending other loan commitments. The Company requires collateral supporting these letters of credit as deemed necessary. The maximum undiscounted exposure related to these commitments at December 31, 2022 and 2021 was $9.1 million and $9.5 million, respectively, and the approximate value of underlying collateral upon liquidation that would be expected to cover this maximum potential exposure was $7.6 million and $7.3 million, respectively. The current amount of the liability as of December 31, 2022 and 2021 for guarantees under standby letters of credit issued is not considered material.
v3.22.4
Bank Premises And Equipment
 12 Months Ended
Dec. 31, 2022
Bank Premises And Equipment [Abstract]  
Bank Premises And Equipment


‎

Note 5 - Bank Premises and Equipment

The components of premises and equipment are as follows:

December 31,

2022

2021

(In Thousands)

Furniture, fixtures and equipment

$

4,226 

$

4,190 

Leasehold improvements

4,266 

4,129 

Buildings

1,169 

1,163 

Computer equipment and data processing software

2,015 

1,509 

Automobiles

170 

150 

11,846 

11,141 

Accumulated depreciation

(8,003)

(7,147)

$

3,843 

$

3,994 
v3.22.4
Deposits
 12 Months Ended
Dec. 31, 2022
Deposits [Abstract]  
Deposits

Note 6 – Deposits

The components of deposits:

December 31,

2022

2021

(In Thousands)

Demand, non-interest bearing

$

381,811 

$

323,513 

Demand, NOW and money market, interest bearing

244,629 

248,401 

Savings

681,394 

739,637 

Time, $250 and over

82,916 

54,739 

Time, other

130,357 

100,735 

Total deposits

$

1,521,107 

$

1,467,025 

At December 31, 2022, the scheduled maturities of time deposits are as follows (in thousands):

2023

$

133,521 

2024

71,659 

2025

5,331 

2026

1,758 

2027

1,004 

$

213,273 
v3.22.4
Securities Sold Under Agreements To Repurchase And Offsetting Assets And Liabilities
 12 Months Ended
Dec. 31, 2022
Securities Sold Under Agreements To Repurchase And Offsetting Assets And Liabilities [Abstract]  
Securities Sold Under Agreements To Repurchase And Offsetting Assets And Liabilities


‎

Note 7 - Securities Sold under Agreements to Repurchase and Offsetting Assets and Liabilities

Securities sold under agreements to repurchase generally mature within a few days from the transaction date and are reflected at the amount of cash received in connection with the transaction. The securities are retained under the Company’s control at its safekeeping agent. The Company adjusts collateral based on the fair value of the underlying securities, on a monthly basis. Information concerning securities sold under agreements to repurchase is summarized as follows:

2022

2021

(Dollars In Thousands)

Balance outstanding at December 31

$

13,384 

$

11,252 

Weighted average interest rate at the end of the year

1.038

%

0.068

%

Average daily balance during the year

$

12,879 

$

12,869 

Weighted average interest rate during the year

0.182

%

0.065

%

Maximum month-end balance during the year

$

14,947 

$

15,741 

The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities.  Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets.  As a result, these repurchase agreements are accounted for as collateralized financing arrangements (i.e., secured borrowings) and not as a sale and subsequent repurchase of securities.  The obligation to repurchase the securities is reflected as a liability in the Company's consolidated balance sheets, while the securities underlying the repurchase agreements remain in the respective investment securities asset accounts. In other words, there is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities. In addition, as the Company does not enter into reverse repurchase agreements, there is no such offsetting to be done with the repurchase agreements.

The right of offset for a repurchase agreement resembles a secured borrowing, whereby the collateral would be used to settle the fair value of the repurchase agreement should the Company be in default (e.g., fails to make an interest payment to the counterparty). For private institution repurchase agreements, if the private institution counterparty were to default (e.g., declare bankruptcy), the Company could cancel the repurchase agreement (i.e., cease payment of principal and interest), and attempt collection on the amount of collateral value in excess of the repurchase agreement fair value. The collateral is held by a third-party financial institution in the counterparty's custodial account. The counterparty has the right to sell or repledge the investment securities. For government entity repurchase agreements, the collateral is held by the Company in a segregated custodial account under a tri-party agreement.

The following table presents the liabilities subject to an enforceable master netting arrangement or repurchase agreements as of December 31, 2022 and December 31, 2021:

Net Amounts

Gross

Gross Amounts

of Liabilities

Amounts of

Offset in the

Presented in the

Recognized

Consolidated

Consolidated

Financial

Cash Collateral

Liabilities

Balance Sheet

Balance Sheet

Instruments

Pledged

Net Amount

(In Thousands)

December 31, 2022

Repurchase Agreements:

Corporate Institutions

$

13,384

$

-

$

13,384

$

(13,384)

$

-

$

-

December 31, 2021

Repurchase Agreements:

Corporate Institutions

$

11,252

$

-

$

11,252

$

(11,252)

$

-

$

-

As of December 31, 2022 and December 31, 2021, the fair value of securities pledged was $26.0 million and $20.3 million, respectively.
v3.22.4
Short-Term and Long-Term Borrowings
 12 Months Ended
Dec. 31, 2022
Short-Term And Long-Term Borrowings [Abstract]  
Short-Term And Long-Term Borrowings Note 8 – Short-term and Long-term Borrowings

Federal funds purchased and FHLB short term advances generally represent overnight or less than twelve month borrowings. Long term advances from the FHLB are for periods of twelve months or more and are generally less than sixty months. The Bank has an agreement with the FHLB, which allows for borrowings up to a percentage of qualifying assets. At December 31, 2022, the Bank had a maximum borrowing capacity for short-term and long-term advances of approximately $763.5 million, of which $763.4 million is available for borrowing at December 31, 2022 due to an outstanding letter of credit in amount of $90 thousand. This borrowing capacity with the FHLB includes a line of credit of $150.0 million. There were no short-term FHLB advances outstanding as of December 31, 2022 and December 31, 2021. There were no long term FHLB advances outstanding as of December 31, 2022 and $14.7 million in long-term FHLB advances outstanding as of December 31, 2021. All FHLB borrowings are secured by qualifying assets of the Bank.

The Bank also has a federal funds line of credit with the ACBB of $10.0 million, of which none was outstanding at December 31, 2022 and December 31, 2021. Advances from this line are unsecured.

The Company has a revolving line of credit facility with the ACBB of $7.5 million, of which none was outstanding at December 31, 2022 and December 31, 2021. Advances from this line are unsecured.
v3.22.4
Employment Agreements And Supplemental Executive Retirement Plans
 12 Months Ended
Dec. 31, 2022
Employment Agreements And Supplemental Executive Retirement Plans [Abstract]  
Employment Agreements And Supplemental Executive Retirement Plans Note 9 - Employment Agreements and Supplemental Executive Retirement Plans

The Company has entered into employment agreements with its Chief Executive Officer, Chief Financial Officer and Senior Loan Officer. The Senior Loan Officer retired effective December 31, 2022.

The Company has an unfunded, non-qualified Supplemental Executive Retirement Plan (“SERP”) for certain executive officers that provides for payments upon retirement, death, or disability. As of December 31, 2022 and 2021, other liabilities include $7.3 million and $6.7 million, respectively, accrued under these plans. For the years ended December 31, 2022 and 2021, $637 thousand and $688 thousand, respectively, were expensed under these plans.
v3.22.4
Stock Incentive Plan And Employee Stock Purchase Plan
 12 Months Ended
Dec. 31, 2022
Stock Incentive Plan And Employee Stock Purchase Plan [Abstract]  
Stock Incentive Plan And Employee Stock Purchase Plan

Note 10 - Stock Incentive Plan and Employee Stock Purchase Plan

Stock Incentive Plan:

At the Company’s annual meeting on June 20, 2019, the shareholders approved the amendment and restatement of the Embassy Bancorp, Inc. 2010 Stock Incentive Plan (the “SIP”), which was originally adopted by the Company’s shareholders effective June 16, 2010, to replenish the number of shares of common stock available for issuance under the SIP and extend the term of the SIP for another ten (10) years. The SIP authorizes the Board of Directors, or a committee authorized by the Board of Directors, to award a stock based incentive to (i) designated officers (including officers who are directors) and other designated employees at the Company and its subsidiaries, and (ii) non-employee members of the Board of Directors and advisors and consultants to the Company and its subsidiaries. The SIP provides for stock based incentives in the form of incentive stock options as provided in Section 422 of the Internal Revenue Code of 1986, non-qualified stock options, stock appreciation rights, restricted stock, and deferred stock awards. The term of the option, the amount of time for the option to vest after grant, if any, and other terms and limitations will be determined at the time of grant. Options granted under the SIP may not have an exercise period that is more than ten years from the time the option is granted. The maximum number of shares of common stock authorized for issuance under the SIP increased from 500,000 to 756,356 (in order to replenish the shares that were previously issued). The SIP provides for appropriate adjustments in the number and kind of shares available for grant or subject to outstanding awards under the SIP to avoid dilution in the event of merger, stock splits, stock dividends or other changes in the capitalization of the Company. The SIP expires on June 20, 2029. At December 31, 2022, there were 407,875 shares available for issuance under the SIP.

The Company grants shares of restricted stock, under the SIP, to certain members of its Board of Directors as compensation for their services, in accordance with the Company’s Non-employee Directors Compensation program adopted in October 2010. The Company also grants restricted stock to certain officers under individual agreements with these officers. Some of these restricted stock awards vest immediately, while the remainder vest over a service period of two years to nine years. Management recognizes compensation expense for the fair value of the restricted stock awards on a straight-line basis over the requisite service period. Since inception of the SIP and through the Company’s restricted stock grants activity for the year ended December 31, 2022, there have been 232,238 awards granted. During the years ended December 31, 2022 and 2021 there were 22,632 and 22,307 awards granted, respectively. During the years ended December 31, 2022 and 2021 the Company recognized $527 thousand and $432 thousand in compensation expense for the restricted stock awards.

Information regarding the Company’s restricted stock grants activity for the years ended December 31, 2022 and 2021 are as follows:

Restricted Stock Awards

Weighted Average Grant Date Fair Value

Non-Vested at December 31, 2020

61,784 

$

13.13 

Granted

22,307 

17.60 

Vested

(30,367)

14.19 

Non-Vested at December 31, 2021

53,724 

$

14.38 

Granted

22,632 

19.93

Vested

(20,590)

13.77 

Forfeited

(1,415)

14.55 

Non-Vested at December 31, 2022

54,351 

$

14.85


‎

The Company has granted stock options to purchase shares of stock to certain executive officers under individual agreements and/or in accordance with their respective employment agreements. There was no stock compensation expense related to these options for the year ended December 31, 2022 and December 31, 2021. At December 31, 2022, there was no unrecognized cost to the stock options.

Activities under the SIP, related to stock options, is summarized as follows:

Number of
‎Options

Weighted
‎Average Exercise Price

Outstanding, December 31, 2020

63,632 

$

7.61 

Granted

-

-

Exercised

(29,742)

7.00 

Forfeited

-

-

Outstanding, December 31, 2021

33,890 

$

8.15 

Granted

-

-

Exercised

(33,890)

8.15 

Forfeited

-

-

Outstanding, December 31, 2022

-

$

-

Exercisable, December 31, 2022

-

$

-

There were no remaining stock options outstanding as of December 31, 2022.

Employee Stock Purchase Plan:

On January 1, 2017, the Company implemented the Embassy Bancorp, Inc. Employee Stock Purchase Plan, which was approved by the Company’s shareholders at the annual meeting held on June 16, 2016. Under the plan, each employee of the Company and its subsidiaries who is employed on an offering date and customarily is scheduled to work at least twenty (20) hours per week and more than five (5) months in a calendar year is eligible to participate. The purchase price for shares purchased under the plan shall initially equal 95% of the fair market value of such shares on the date of purchase.  The purchase price may be adjusted from time to time by the Board of Directors; provided, however, that the discount to fair market value shall not exceed 15%.  The Company has authorized 350,000 shares of its common stock for the plan, of which 21,905 shares have been issued as of December 31, 2022. The Company recognized discount expense in relation to the employee stock purchase plan of $3 thousand during the years ending December 31, 2022 and 2021.
v3.22.4
Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2022
Other Comprehensive Loss [Abstract]  
Other Comprehensive Loss Note 11 – Other Comprehensive Loss

The components of other comprehensive loss, both before tax and net of tax, are as follows:

Year Ended December 31,

2022

2021

(In Thousands)

Before

Tax

Net of

Before

Tax

Net of

Tax

Effect

Tax

Tax

Effect

Tax

Change in accumulated other comprehensive loss:

Unrealized holding losses on securities
‎   available for sale

$

(63,181)

$

13,268

$

(49,913)

$

(5,205)

$

1,093

$

(4,112)

Reclassification adjustments for gains on securities
‎   transactions included in net income (A),(B)

-

-

-

(24)

5

(19)

Total other comprehensive loss

$

(63,181)

$

13,268

$

(49,913)

$

(5,229)

$

1,098

$

(4,131)

(A) Realized gains on securities transactions included in gain on sales of securities in the accompanying Consolidated Statements of Income.

(B) Tax effect included in income tax expense in the accompanying Consolidated Statements of Income.

A summary of the realized gains on securities available for sale for the years ended December 31, 2022 and 2021, net of tax, is as follows:

Year Ended

Year Ended December 31,

2022

2021

(In Thousands)

Securities available for sale:

Realized gains on securities transactions

$

-

$

(24)

Income taxes

-

5

Net of tax

$

-

$

(19)

A summary of the accumulated other comprehensive (loss) income, net of tax, is as follows:

Securities

Available

for Sale

(In Thousands)

Year Ended December 31, 2022 and 2021

Balance January 1, 2022

$

(1,194)

Other comprehensive loss before reclassifications

(49,913)

Amounts reclassified from accumulated other
‎   comprehensive income

-

Net other comprehensive loss during the period

(49,913)

Balance December 31, 2022

$

(51,107)

Balance January 1, 2021

$

2,937

Other comprehensive loss before reclassifications

(4,112)

Amounts reclassified from accumulated other
‎   comprehensive income

(19)

Net other comprehensive loss during the period

(4,131)

Balance December 31, 2021

$

(1,194)
v3.22.4
Regulatory Matters
 12 Months Ended
Dec. 31, 2022
Regulatory Matters [Abstract]  
Regulatory Matters Note 12 - Regulatory Matters

The Company is required to maintain cash reserve balances in vault cash and with the Federal Reserve Bank. As of December 31, 2022, due to the reserve requirement ratios being set at 0% effective March 26, 2020, the Company had no minimum reserve requirement.

The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Under the BASEL III rules the Company and the Bank must hold a capital conservation buffer of 2.50% above the adequately capitalized risk-based capital ratios. The net unrealized gain or losses on available-for-sale securities are not included in computing regulatory capital amounts. Failure to meet the 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 financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, both the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s 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 the Bank to maintain minimum amounts and ratios (set forth below) of total, Tier 1 common capital, and Tier 1 capital (as defined in the regulations) to risk-weighted assets and of Tier 1 capital to average assets. Management believes, as of December 31, 2022, that the Company and the Bank meet all capital adequacy requirements to which they are subject.

Effective in 2018, the Federal Reserve raised the consolidated asset limit to be considered a small bank holding company from $1 billion to $3 billion.  A company that qualifies as a small bank holding company is not subject to the Federal Reserve’s consolidated capital rules, although a company that so qualifies may continue to file reports that include such capital amounts and ratios.  The Company has elected to continue to report those amounts and ratios.

As of December 31, 2022, the most recent notification from the regulatory agencies categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table below. There are no conditions or events since that notification that management believes have changed the Bank’s category.

The Bank’s actual capital amounts and ratios at December 31, 2022 and 2021 are presented below:

Actual

For Capital Adequacy
‎Purposes

To be Well Capitalized under
‎Prompt Corrective Action
‎Provisions

Amount

Ratio

Amount

Ratio

Amount

Ratio

(Dollar Amounts in Thousands)

December 31, 2022:

Total capital (to risk-weighted assets)

$

151,624

14.1

%

$

≥

86,159

≥

8.0

%

$

≥

107,699

≥

10.0

%

Tier 1 common capital (to risk-weighted assets)

139,175

12.9

≥

48,465

≥

4.5

≥

70,004

≥

6.5

Tier 1 capital (to risk-weighted assets)

139,175

12.9

≥

64,619

≥

6.0

≥

86,159

≥

8.0

Tier 1 capital (to average assets)

139,175

8.3

≥

66,976

≥

4.0

≥

83,720

≥

5.0

December 31, 2021:

Total capital (to risk-weighted assets)

$

135,004

14.0

%

$

≥

77,045

≥

8.0

%

$

≥

96,306

≥

10.0

%

Tier 1 common capital (to risk-weighted assets)

123,520

12.8

≥

43,338

≥

4.5

≥

62,599

≥

6.5

Tier 1 capital (to risk-weighted assets)

123,520

12.8

≥

57,784

≥

6.0

≥

77,045

≥

8.0

Tier 1 capital (to average assets)

123,520

7.7

≥

64,091

≥

4.0

≥

80,114

≥

5.0


‎

The Company’s actual capital amounts and ratios at December 31, 2022 and 2021 are presented below:

Actual

For Capital Adequacy
‎Purposes

Amount

Ratio

Amount

Ratio

(Dollar Amounts in Thousands)

December 31, 2022:

Total capital (to risk-weighted assets)

$

151,832

14.1

%

$

≥

86,142

≥

8.0

%

Tier 1 common capital (to risk-weighted assets)

139,383

12.9

≥

48,455

≥

4.5

Tier 1 capital (to risk-weighted assets)

139,383

12.9

≥

64,606

≥

6.0

Tier 1 capital (to average assets)

139,383

8.3

≥

66,978

≥

4.0

December 31, 2021:

Total capital (to risk-weighted assets)

$

135,193

14.0

%

$

≥

76,991

≥

8.0

%

Tier 1 common capital (to risk-weighted assets)

123,709

12.9

≥

43,307

≥

4.5

Tier 1 capital (to risk-weighted assets)

123,709

12.9

≥

57,743

≥

6.0

Tier 1 capital (to average assets)

123,709

7.7

≥

64,092

≥

4.0

The Bank is subject to certain restrictions on the amount of dividends that it may declare due to regulatory considerations. The Pennsylvania Banking Code provides that cash dividends may be declared and paid only out of accumulated net earnings.
v3.22.4
Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2022
Fair Value of Financial Instruments [Abstract]  
Fair Value of Financial Instruments Note 13 - Fair Value of Financial Instruments

The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument.

Fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions.

US GAAP establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability.

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity).

An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.

For financial assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy utilized at December 31, 2022 and 2021 are as follows:

Description

(Level 1) Quoted Prices in Active Markets for Identical Assets

(Level 2) Significant Other Observable Inputs

(Level 3) Significant Unobservable Inputs

Total

(In Thousands)

U.S. Treasury securities

$

-

$

16,771

$

-

$

16,771

U.S. Government agency obligations

-

32,551

-

32,551

Municipal bonds

-

58,617

-

58,617

U.S. Government Sponsored Enterprise (GSE) -

Mortgage-backed securities - commercial

-

434

-

434

U.S. Government Sponsored Enterprise (GSE) -

Mortgage-backed securities - residential

-

208,619

-

208,619

December 31, 2022 Securities available for sale

$

-

$

316,992

$

-

$

316,992

U.S. Government agency obligations

$

-

$

28,858

$

-

$

28,858

Municipal bonds

-

61,104

-

61,104

U.S. Government Sponsored Enterprise (GSE) -

Mortgage-backed securities - commercial

-

530

-

530

U.S. Government Sponsored Enterprise (GSE) -

Mortgage-backed securities - residential

-

219,772

-

219,772

December 31, 2021 Securities available for sale

$

-

$

310,264

$

-

$

310,264

The fair value of securities available for sale are determined by matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted prices. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the security’s terms and conditions, among other things.

For financial assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at December 31, 2022 and 2021 are as follows:

Description

(Level 1) Quoted Prices in Active Markets for Identical Assets

(Level 2) Significant Other Observable Inputs

(Level 3) Significant Unobservable Inputs

Total

(In Thousands)

December 31, 2022 Impaired loans

$

-

$

-

$

868

$

868

December 31, 2021 Impaired loans

$

-

$

-

$

916

$

916

Impaired loans are those that are accounted for under existing FASB guidance, in which the Bank has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. Fair values may also include qualitative adjustments by management based on economic conditions and liquidation

expenses. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements.

Real estate properties acquired through, or in lieu of, foreclosure are to be sold and are carried at fair value less estimated cost to sell. Fair value is based upon independent market prices or appraised value of the property. These assets would be included in Level 3 fair value based upon the lowest level of input that is significant to the fair value measurement. At both December 31, 2022 and December 31, 2021, the Company had no real estate properties acquired through, or in lieu of, foreclosure.

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value:

Quantitative Information about Level 3 Fair Value Measurements

Description

Fair Value
‎Estimate

Valuation Techniques

Unobservable Input

Range
‎(Weighted Average)

(Dollars In Thousands)

December 31, 2022:

Impaired loans

$

868

Appraisal of collateral and
‎

Appraisal adjustments (1)

0% to -25% (-25.0%)

pending agreement of sale

Liquidation expenses (2)

0% to -7.5% (-7.5%)

December 31, 2021:

Impaired loans

$

916

Appraisal of collateral and
‎

Appraisal adjustments (1)

0% to -25% (-22.8%)

pending agreement of sale

Liquidation expenses (2)

0% to -8.5% (-7.7%)

(1)

Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal.

The range and weighted average of appraisal adjustments are presented as a percent of the appraisal.

(2)

Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average

of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale.


‎

The estimated fair values of the Company’s financial instruments were as follows at December 31, 2022 and 2021:

(Level 1)

Quoted

(Level 2)

Prices in

Significant

(Level 3)

Active

Other

Significant

Carrying

Fair Value

Markets for

Observable

Unobservable

Amount

Estimate

Identical Assets

Inputs

Inputs

(In Thousands)

December 31, 2022:

Financial assets:

Cash and cash equivalents

$

67,295

$

67,295

$

67,295

$

-

$

-

Securities available-for-sale

316,992

316,992

-

316,992

-

Loans receivable, net of allowance

1,196,164

1,163,947

-

-

1,163,947

Paycheck Protection Program loans receivable

286

255

-

-

255

Restricted investments in bank stock

995

995

-

995

-

Accrued interest receivable

2,926

2,926

-

2,926

-

Financial liabilities:

Deposits

1,521,107

1,516,911

-

1,516,911

-

Securities sold under agreements to

repurchase and federal funds purchased

13,384

13,384

-

13,384

-

Accrued interest payable

986

986

-

986

-

Off-balance sheet financial instruments:

Commitments to grant loans

-

-

-

-

-

Unfunded commitments under lines of credit

-

-

-

-

-

Standby letters of credit

-

-

-

-

-

December 31, 2021:

Financial assets:

Cash and cash equivalents

$

169,692

$

169,692

$

169,692

$

-

$

-

Securities available-for-sale

310,264

310,264

-

310,264

-

Loans receivable, net of allowance

1,096,555

1,141,467

-

-

1,141,467

Paycheck Protection Program loans receivable

8,568

8,163

-

8,163

Restricted investments in bank stock

1,424

1,424

-

1,424

-

Accrued interest receivable

2,603

2,603

-

2,603

-

Financial liabilities:

Deposits

1,467,025

1,467,938

-

1,467,938

-

Securities sold under agreements to

repurchase and federal funds purchased

11,252

11,252

-

11,252

-

Long-term borrowings

14,651

14,665

-

-

14,665

Accrued interest payable

652

652

-

652

-

Off-balance sheet financial instruments:

Commitments to grant loans

-

-

-

-

-

Unfunded commitments under lines of credit

-

-

-

-

-

Standby letters of credit

-

-

-

-

-
v3.22.4
Transactions With Executive Officers, Directors And Principal Stockholders
 12 Months Ended
Dec. 31, 2022
Transactions With Executive Officers, Directors And Principal Stockholders [Abstract]  
Transactions With Executive Officers, Directors And Principal Stockholders Note 14 - Transactions with Executive Officers, Directors and Principal Stockholders

The Company has had, and may be expected to have in the future, banking transactions in the ordinary course of business with its executive officers, directors, principal stockholders, their immediate families, and affiliated companies (commonly referred to as related parties).

Related parties were indebted to the Company for loans totaling $15.3 million at December 31, 2022 and December 31, 2021. During 2022, loans totaling $1.4 million were disbursed and loan repayments totaled $1.4 million.

Deposits with related parties were $15.4 million and $17.1 million at December 31, 2022 and 2021, respectively.

Fees paid to related parties for legal services for the years ended December 31, 2022 and 2021 were approximately $51 thousand and $59 thousand, respectively. The Company leases its main banking office from an investment group comprised of related parties and its West Broad Street office also from a related party, as disclosed in Note 15.

v3.22.4
Lease Commitments
 12 Months Ended
Dec. 31, 2022
Lease Commitments [Abstract]  
Lease Commitments Note 15 - Lease Commitments

The Company’s leases are all classified as operating leases. Currently, many of these leases contain renewal options. The Company has reviewed and based the right of use assets and lease liabilities on the present value of unpaid future minimum lease payments. Additionally, the amounts for the branch leases were impacted by assumptions around renewals and/or extensions and the interest rate used to discount those future lease obligations. The Company used the FHLB advance rates to calculate the discount rate in their review because none of the Company’s leases provided an implicit rate. At December 31, 2022 and 2021 the weighted average discount rate for all operating leases was 2.89% and 2.90%, respectively, with branch leases having a weighted average discount rate of 2.91% and 2.93%, respectively, and equipment leases having a weighted average discount rate of 0.89% and 1.08%, respectively. These leases expire at various dates through October 2030. All operating equipment leases do not have renewal language in their contracts and therefore use the current term. As of December 31, 2022 and 2021, the operating leases overall had a weighted average lease term of 4.95 and 5.78 years, respectively, with the branch leases having a weighted average life of 4.98 and 5.83 years, respectively, and equipment leases having a weighted average life of 2.52 and 3.19 years, respectively.

At December 31, 2022, the Company had right of use assets of $7.2 million (included in other assets) and lease liabilities of $7.3 million (included in other liabilities) and at December 31, 2021, the Company had right of use assets of $8.7 million (included in other assets) and lease liabilities of $8.9 million (included in other liabilities), respectively. The cost for operating leases was $1.8 million for the years ended December 31, 2022 and December 31, 2021, respectively. Operating cash flow paid for lease liabilities was $1.8 million for the years ended December 31, 2022 and December 31, 2021, respectively.

In addition to fixed rentals, the leases require the Company to pay certain additional expenses of occupying these spaces, including real estate taxes, insurance, utilities, and repairs. These additional expenses, along with depreciation on leasehold improvements, are included in occupancy and equipment expense in the Consolidated Statements of Income. A portion of these leases are with related parties as noted in the following table.

A reconciliation of operating lease liabilities by minimum lease payments by year and in aggregate and discount amounts in aggregate, as of December 31, 2022, are as follows:

Branch Leases

Equipment

Third Parties

Related Parties

Leases

Total

(In Thousands)

2023

$

1,137

$

672

$

41

$

1,850

2024

1,067

685

39

1,791

2025

763

698

22

1,483

2026

741

671

-

1,412

2027

374

55

-

429

Thereafter

864

-

-

864

Total Payments

4,946

2,781

102

7,829

Less: Discount Amount

303

185

1

489

Total Lease Liability

$

4,643

$

2,596

$

101

$

7,340

Rent expense to related parties was $661 thousand for the years ended December 31, 2022 and 2021, respectively, as described in Note 14.
v3.22.4
Federal Income Taxes
 12 Months Ended
Dec. 31, 2022
Federal Income Taxes [Abstract]  
Federal Income Taxes Note 16 - Federal Income Taxes

The components of income tax expense are as follows:

Year Ended December 31,

2022

2021

(In Thousands)

Current

$

4,639

$

4,324

Deferred

(348)

(258)

Income Tax Expense

$

4,291

$

4,066

A reconciliation of the statutory federal income tax at a rate of 21% as of December 31, 2022 and December 31, 2021 to the income tax expense included in the consolidated statements of income is as follows:

Years Ended December 31,

2022

2021

(In Thousands)

Dollar

%

Dollar

%

Federal income tax at statutory rate

$

4,619

21.0

%

$

4,379

21.0

%

Tax-exempt interest

(281)

(1.3)

%

(243)

(1.2)

%

Bank owned life insurance

(90)

(0.4)

%

(104)

(0.5)

%

Other

43

0.2

%

34

0.2

%

Income Tax Expense

$

4,291

19.5

%

$

4,066

19.5

%

The Company evaluates its tax positions which is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that has a likelihood of being realized on examination of more than 50 percent. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Under the “more likely than not” threshold guidelines, the Company believes no significant uncertain tax positions exist, either individually or in the aggregate, that would give rise to the non-recognition of an existing tax benefit. As of December 31, 2022 and 2021, the Company had no material unrecognized tax benefits or accrued interest and penalties. The Company’s policy is to account for interest as a component of interest expense and penalties as a component of other expense.


‎

The components of the net deferred tax asset (included in other assets) are as follows:

December 31,

2022

2021

(In Thousands)

Deferred tax assets:

Allowance for loan losses

$

2,614 

$

2,412 

Deferred compensation

1,540 

1,406 

Lease liability

1,541 

1,876 

Unrealized loss on securities available for sale

13,585 

317 

Other

17 

19 

Total Deferred Tax Assets

19,297 

6,030 

Deferred tax liabilities:

Premises and equipment

73 

87 

Prepaid assets

287 

321 

Deferred loan costs

617 

589 

Right of use asset

1,505 

1,834 

Total Deferred Tax Liabilities

$

2,482 

$

2,831 

Net Deferred Tax Asset

$

16,815 

$

3,199 

Based upon the level of historical taxable income and projections for future taxable income over periods in which the deferred tax assets are deductible, management believes it is more likely than not that the Company will realize the benefits of these deductible differences.
v3.22.4
Parent Company Only Financial
 12 Months Ended
Dec. 31, 2022
Parent Company Only Financial [Abstract]  
Parent Company Only Financial Note 17 – Parent Company Only Financial

Condensed financial information pertaining only to the parent company, Embassy Bancorp, Inc., is as follows:

BALANCE SHEETS

December 31,

2022

2021

(In Thousands)

ASSETS

Cash

$

548 

$

481 

Other assets

49 

43 

Investment in subsidiary

88,067 

122,325 

Total Assets

$

88,664 

$

122,849 

LIABILITIES AND STOCKHOLDERS’ EQUITY

Other liabilities

$

388 

$

334 

Stockholders’ equity

88,276 

122,515 

Total Liabilities and Stockholders’ Equity

$

88,664 

$

122,849 

STATEMENTS OF INCOME AND COMPREHENSIVE (LOSS) INCOME

Years Ending December 31,

2022

2021

(In Thousands)

Other expenses

$

(560)

$

(482)

Equity in net income of banking subsidiary

18,150 

17,171 

Income before income taxes

17,590 

16,689 

Income tax benefit

112 

97 

Net income

$

17,702 

$

16,786 

Equity in other comprehensive loss of banking subsidiary

(49,913)

(4,131)

Comprehensive (loss) income

$

(32,211)

$

12,655 


‎

STATEMENT OF CASH FLOWS

Years Ending December 31,

2022

2021

(In Thousands)

Cash Flows from Operating Activities:

Net income

$

17,702 

$

16,786 

Adjustments to reconcile net income to net cash provided by

operating activities:

Stock compensation expense

527 

432 

Net change in other assets and liabilities

48 

42 

Equity in net income of banking subsidiary

(18,150)

(17,171)

Net Cash Provided By Operating Activities

127 

89 

Cash Flows Provided By Investing Activities:

Dividend from banking subsidiary

2,495 

2,665 

Cash Flows from Financing Activities:

Exercise of stock options, net of payment for stock

tendered, and proceeds from employee stock purchase plan

189 

177 

Purchase of treasury stock

(100)

(670)

Dividends paid

(2,644)

(2,253)

Net Cash Used in Financing Activities

(2,555)

(2,746)

Net Increase in Cash

67 

8 

Cash – Beginning

481 

473 

Cash - Ending

$

548 

$

481 


‎
v3.22.4
Summary Of Significant Accounting Policies (Policy)
 12 Months Ended
Dec. 31, 2022
Summary Of Significant Accounting Policies [Abstract]  
Principles Of Consolidation And Nature Of Operations Principles of Consolidation and Nature of Operations

Embassy Bancorp, Inc. (the “Company”) is a Pennsylvania corporation organized in 2008 and registered as a bank holding company pursuant to the Bank Holding Company Act of 1956, as amended (the “BHC Act”). The Company was formed for purposes of acquiring Embassy Bank For The Lehigh Valley (the “Bank”) in connection with the reorganization of the Bank into a bank holding company structure, which was consummated on November 11, 2008. Accordingly, the Company owns all of the capital stock of the Bank, giving the organization more flexibility in meeting its capital needs as the Company continues to grow.

The Bank, which is the Company’s principal operating subsidiary, was originally incorporated as a Pennsylvania bank on May 11, 2001 and opened its doors on November 6, 2001. It was formed by a group of local business persons and professionals with significant prior experience in community banking in the Lehigh Valley area of Pennsylvania, the Bank’s primary market area.
Estimates Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of other-than-temporary impairment on available for sale debt securities, and the determination of the allowance for loan losses.
Concentrations Of Credit Risk Concentrations of Credit Risk

Most of the Company’s activities are with customers located in the Lehigh Valley area of Pennsylvania. Note 2 discusses the types of securities in which the Company invests. The concentrations of credit by type of loan are set forth in Note 3. The Company does not have any significant concentrations to any one specific industry or customer, with the exception of lending activity to a broad range of lessors of residential and non-residential real estate within the Lehigh Valley. Although the Company has a diversified loan portfolio, its debtors’ ability to honor their contracts is influenced by the region’s economy.

Presentation Of Cash Flows Presentation of Cash Flows

For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, interest-bearing demand deposits with banks, and federal funds sold. Generally, federal funds are purchased or sold for less than one week periods.
Securities

Securities

Securities classified as available for sale are those securities that the Company intends to hold for an indefinite period of time, but not necessarily to maturity. Securities available for sale are carried at fair value. Any decision to sell a security classified as available for sale would be based on various factors, including significant movement in interest rates, changes in maturity mix of the Company’s assets and liabilities, liquidity needs, regulatory capital considerations and other similar factors. Unrealized gains and losses are reported as increases or decreases in other comprehensive (loss) income. Realized gains or losses, determined on the basis of the cost of the specific securities sold, are included in earnings. Premiums and discounts are recognized in interest income using the interest method over the terms of the securities.

Other-than-temporary accounting guidance specifies that (a) if a company does not have the intent to sell a debt security prior to recovery and (b) it is more likely than not that it will not have to sell the debt security prior to recovery, the security would not be considered other-than-temporarily impaired unless there is a credit loss. When an entity does not intend to sell the security, and it is more likely than not the entity will not have to sell the security before recovery of its cost basis, it will recognize the credit component of an other-than-temporary impairment of a debt security in earnings and the remaining portion in other comprehensive income. The Company recognized no other-than-temporary impairment charges during the years ended December 31, 2022 and 2021.
Restricted Investments In Bank Stock Restricted Investments in Bank Stock

Restricted investments in bank stock consist of FHLBank Pittsburgh (“FHLB”) stock and Atlantic Community Bankers Bank (“ACBB”) stock. The restricted stocks have no quoted market value and are carried at cost. Federal law requires a member institution of the FHLB to hold stock of its district FHLB according to a predetermined formula.

Management evaluates the FHLB and ACBB restricted stock for impairment. Management’s determination of whether these investments are impaired is based on their assessment of the ultimate recoverability of their cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of their cost is influenced by criteria such as (1) the significance of the decline in net assets of the issuer as compared to the capital stock amount for the issuer and the length of time this situation has persisted, (2) commitments by the issuer to make payments required by law or regulation and the level of such payments in relation to the operating performance of the issuer, and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the issuer.

Management believes no impairment charge is necessary related to the FHLB or ACBB restricted stock as of December 31, 2022. No impairment charge was taken related to the FHLB or ACBB restricted stock as of December 31, 2021.

Loans Receivable Loans Receivable

Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of any deferred fees or costs. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield using the effective interest method.  Premiums and discounts on purchased loans are amortized as adjustments to interest income using the effective interest method.  Delinquency fees are recognized in income when collected.

As described in Note 3, the Company has presented Paycheck Protection Program (“PPP”) loans separately from loans receivable on the Consolidated Balance Sheets. The non-PPP loans receivable portfolio is segmented into commercial and consumer loans. Commercial loans consist of the following classes: commercial real estate, commercial construction and commercial. Consumer loans consist of the following classes: residential real estate and other consumer loans.

The Company makes commercial loans for real estate development and other business purposes required by the customer base. The Company’s credit policies determine advance rates against the different forms of collateral that can be pledged against commercial loans. Typically, the majority of loans will be limited to a percentage of their underlying collateral values such as real estate values, equipment, eligible accounts receivable and inventory. Individual loan advance rates may be higher or lower depending upon the financial strength of the borrower and/or term of the loan. The assets financed through commercial loans are used within the business for its ongoing operation. Repayment of these kinds of loans generally comes from the cash flow of the business or the ongoing conversion of assets. Commercial real estate loans include long-term loans financing commercial properties. Repayments of these loans are dependent upon either the ongoing cash flow of the borrowing entity or the resale of or lease of the subject property. Commercial real estate loans typically require a loan to value ratio of not greater than 80% and vary in terms.

Residential mortgages and home equity loans are secured by the borrower’s residential real estate in either a first or second lien position. Residential mortgages and home equity loans have varying interest rates (fixed or variable) depending on the financial condition of the borrower and the loan to value ratio. Residential mortgages may have amortizations up to 30 years and home equity loans may have maturities up to 25 years. Other consumer loans include installment loans, car loans, and overdraft lines of credit. Some of these loans may be unsecured.

For all classes of loans receivable, the accrual of interest may be discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan is currently performing. A loan may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed. Interest received on nonaccrual loans, including impaired loans, generally is applied against principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six months) and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments.
Allowance For Loan Losses

Allowance for Loan Losses

The allowance for loan losses represents management’s estimate of losses inherent in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recoveries. Loans, or portions of loans, determined to be confirmed losses are charged against the allowance account and subsequent recoveries, if any, are credited to the account. A loss is considered confirmed when information available at the balance sheet date indicates the loan, or a portion thereof, is uncollectible. As further described in Note 3, because of the 100% Small Business Administration’s (“SBA”) guarantee, the Company has determined that no allowance for loan losses is required on PPP loans.

Management performs a quarterly evaluation of the adequacy of the allowance.  The allowance is based on the Company’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available.

Management maintains the allowance for loan losses at a level it believes adequate to absorb probable credit losses related to specifically identified loans, as well as probable incurred losses inherent in the remainder of the loan portfolio as of the balance sheet dates. The allowance for loan losses account consists of specific and general reserves.

For the specific portion of the allowance for loan losses, a loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. All amounts due according to the contractual terms means that both the contractual interest and principal payments of a loan will be collected as scheduled in the loan agreement. Factors considered by management in determining impairment include payment status, ability to pay and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Loans considered impaired are measured for impairment based on the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. If the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral, if the loan is collateral dependent, is less than the recorded investment in the loan, including accrued interest and net deferred loan fees or costs, the Company will recognize the impairment by adjusting the allowance for loan losses account through charges to earnings as a provision for loan losses.

For loans secured by real estate, estimated fair values are determined primarily through third-party appraisals. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of

the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, loan-to-value ratio based on the original appraisal and the condition of the property. Appraised values are discounted to arrive at the estimated selling price of the collateral, which is considered to be the estimated fair value. The discounts also include estimated costs to sell the property.

For commercial and industrial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets.

The general portion of the allowance for loan losses covers pools of loans by major loan class including commercial loans not considered impaired, as well as smaller balance homogeneous loans, such as residential real estate and other consumer loans. Loss contingencies for each of the major loan pools are determined by applying a total loss factor to the current balance outstanding for each individual pool. The total loss factor is comprised of a historical loss factor using the loss migration method plus a qualitative factor, which adjusts the historical loss factor for changes in trends, conditions and other relevant factors that may affect repayment of the loans in these pools as of the evaluation date. Loss migration involves determining the percentage of each pool that is expected to ultimately result in loss based on historical loss experience. Historical loss factors are based on the ratio of net loans charged-off to loans, net, for each of the major groups of loans. The historical loss factor for each pool, includes but is not limited to, an average of the Company’s historical net charge-off ratio for the most recent rolling four years plus current year to date.

In addition to these historical loss factors, management also uses a qualitative factor that represents a number of environmental risks that may cause estimated credit losses associated with the current portfolio to differ from historical loss experience. These environmental risks include: (i) changes in lending policies and procedures including underwriting standards and collection, charge-off and recovery practices; (ii) changes in the composition and volume of the portfolio; (iii) changes in national, local and industry conditions, including the effects of such changes on the value of underlying collateral for collateral-dependent loans; (iv) changes in the volume and severity of classified loans, including past due, nonaccrual, troubled debt restructures and other loan modifications; (v) changes in the levels of, and trends in, charge-offs and recoveries; (vi) the existence and effect of any concentrations of credit and changes in the level of such concentrations; (vii) changes in the experience, ability and depth of lending management and other relevant staff; (viii) changes in the quality of the loan review system and the degree of oversight by the board of directors; and (ix) the effect of external factors such as competition and regulatory requirements on the level of estimated credit losses in the current loan portfolio. Each environmental risk factor is assigned a value to reflect improving, stable or declining conditions based on management’s best judgment using relevant information available at the time of the evaluation. Adjustments to the factors are supported through documentation of changes in conditions in a narrative accompanying the allowance for loan loss calculation. In 2021 and 2022, the Bank adjusted the economic risk factor and other external factor methodologies to incorporate the current economic implications of inflation rates, gas prices, supply chain disruptions, and any future interest rate increases. All loans that received a CARES Act Section 4013 modification are provided additional qualitative reserve in the Company’s allowance for loan loss calculation.

The unallocated component of the general allowance is used to cover inherent losses that exist as of the evaluation date, but which have not been identified as part of the allocated allowance using the above impairment evaluation methodology due to limitations in the process. One such limitation is the imprecision of accurately estimating the impact current economic conditions will have on historical loss rates. Variations in the magnitude of impact may cause estimated credit losses associated with the current portfolio to differ from historical loss experience, resulting in an allowance that is higher or lower than the anticipated level.

The allowance calculation methodology includes further segregation of loan classes into risk rating categories. The borrower’s overall financial condition, repayment sources, guarantors, and value of collateral, if appropriate, are evaluated annually for commercial loans or when credit deficiencies arise, such as delinquent loan payment, for commercial and consumer loans. Credit quality risk ratings include regulatory classifications of special mention, substandard, doubtful and loss. Loans criticized as special mention have potential weaknesses that deserve management’s close attention. If uncorrected, the potential weakness may result in deterioration of the repayment prospects. Loans classified substandard have a well-defined weakness and borrowers are highly leveraged. They

include loans that are inadequately protected by the current sound net worth and the paying capacity of the obligor or of the collateral pledged, if any. Loans classified doubtful have all the weaknesses inherent in loans classified substandard with the added characteristic that collection or liquidation in full, on the basis of current conditions and facts, is highly improbable. Loans classified as a loss are considered uncollectible and are charged to the allowance for loan losses. Loans not classified are rated pass.

Federal regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses and may require the Company to recognize additions to the allowance based on their judgments about information available to them at the time of their examination, which may not be currently available to management. Based on management’s comprehensive analysis of the loan portfolio, management believes the current level of the allowance for loan losses is adequate.
Other Real Estate Owned Other Real Estate Owned

Other real estate owned is comprised of properties acquired through foreclosure proceedings or acceptance of a deed-in-lieu of foreclosure and loans classified as in-substance foreclosures.  A loan is classified as an in-substance foreclosure when the Company has taken possession of the collateral, regardless of whether formal foreclosure proceedings take place. Other real estate owned is recorded at fair value less cost to sell at the time of acquisition. Any excess of the loan balance over the recorded value is charged to the allowance for loan losses at the time of acquisition. After foreclosure, valuations are periodically performed and the assets are carried at the lower of cost or fair value less cost to sell. Changes in the valuation allowance on foreclosed assets are included in other non-interest income. Costs to maintain the assets are included in other non-interest expenses. Any gain or loss realized upon disposal of other real estate owned is included in other non-interest income. There were no foreclosed assets as of December 31, 2022 and 2021.

Bank Owned Life Insurance Bank Owned Life Insurance

The Company invests in bank owned life insurance (“BOLI”) as a tax deferred investment and a source of funding for employee benefit expenses. BOLI involves the purchasing of life insurance by the Company on certain of its employees and directors. The Company is the owner and primary beneficiary of the policies. This life insurance investment is carried at the cash surrender value of the underlying policies. Income from increases in cash surrender value of the policies is included in non-interest income and is not subject to income taxes unless surrendered. The Company does not intend to surrender these policies, and accordingly, no deferred taxes have been recorded on the earnings from these policies.

Premises And Equipment Premises and Equipment

Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the following estimated useful lives of the related assets: furniture, fixtures and equipment for five years to ten years, leasehold improvements for the life of the lease, building for forty years, computer equipment and data processing software for one year to five years, and automobiles for five years.
Transfers Of Financial Assets

Transfers of Financial Assets

Transfers of financial assets, including sales of loan participations, 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 that constrain 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.
Advertising Costs


‎

Advertising Costs

The Company follows the policy of charging the costs of advertising to expense as incurred.

Income Taxes Income Taxes

Income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to taxable income. Deferred income taxes are provided on the asset and liability method whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and net operating loss carry forwards and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Earnings Per Share Earnings Per Share

Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period, as adjusted for stock dividends and splits. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method.

Year Ended December 31,

2022

2021

(Dollars In Thousands, Except Per Share Data)

Net income

$

17,702

$

16,786

Weighted average shares outstanding

7,554,790

7,517,669

Dilutive effect of potential common

shares, stock options

16,438

37,116

Diluted weighted average common

shares outstanding

7,571,228

7,554,785

Basic earnings per share

$

2.34

$

2.23

Diluted earnings per share

$

2.34

$

2.22

There were no stock options not considered in computing diluted earnings per common share for the years ended December 31, 2022 and December 31, 2021.

Employee Benefit Plan Employee Benefit Plan

The Company has a 401(k) Plan (the “Plan”) for employees. All employees are eligible to participate after they have attained the age of 21 and have also completed 6 consecutive months of service during which at least 500 hours of service are completed. The employees may contribute up to the maximum percentage allowable by law of their compensation to the Plan, and the Company provides a match of fifty percent of the first 8% percent to eligible participating employees. Full vesting in the Plan is prorated equally over a four year period. The Company’s contributions to the Plan for the years ended December 31, 2022 and 2021 were $284 thousand and $278 thousand, respectively.
Off Balance Sheet Financial Instruments


‎

Off Balance Sheet Financial Instruments

In the ordinary course of business, the Company has entered into off-balance sheet financial instruments consisting of commitments to extend credit and letters of credit. Such financial instruments are recorded in the consolidated balance sheet when they are funded.

Comprehensive (Loss) Income

Comprehensive (Loss) Income

US GAAP requires that recognized revenue, expenses, gains, and losses be included 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 sheet, such items, along with net income, are components of comprehensive income.
Stock-Based Compensation

Stock-Based Compensation

The Company measures and records compensation expense for share-based payments based on the instrument's fair value on the date of grant. The fair value of each stock option grant is measured using the Black-Scholes option pricing model. The fair value of stock awards is based on the Company's stock price. Share-based compensation expense is recognized over the service period, generally defined as the vesting period.
Non-Interest Income Non-Interest Income

The majority of the Company’s revenue-generating transactions are not subject to Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, including revenue generated from financial instruments, such as its loans and investment securities, as these activities are subject to other US GAAP discussed elsewhere within the Company’s disclosures. Descriptions of the Company’s revenue-generating activities that are within the scope of Topic 606, which are presented in the consolidated statement of income as components of non-interest income, are merchant processing and credit card processing fees, debit card interchange fees, other service fees on deposit accounts, and gains and losses on other real estate owned. Credit card processing fees include income from consumer and commercial credit cards and merchant processing income. Income for such performance obligations are generally received at the time the performance obligations are satisfied or within the monthly service period. Service fees on deposit accounts represent general service fees for monthly account maintenance and activity or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when the Company’s performance obligation is completed, which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). The Company recognizes debit card interchange fees daily from debit cardholder transactions conducted through the MasterCard payment network. The Company records a gain or loss from the sale of other real estate owned when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of other real estate owned to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction prices and related gain or loss on the sale if a significant financing component is present. The Company does not sell its mortgages on the secondary market, nor does it offer trust or investment brokerage services to its customers to generate fee income.

Subsequent Events Subsequent Events

The Company has evaluated events and transactions occurring subsequent to the balance sheet date of December 31, 2022 through the date these consolidated financial statements were available for issuance for items that should potentially be recognized or disclosed in these consolidated financial statements.

Future Accounting Standards Future Accounting Standards

In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments - Credit Losses”. ASU 2016-13 requires entities to report “expected” credit losses on financial instruments and other commitments to extend credit rather than the current “incurred loss” model. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU will also require enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. In November 2019, the FASB issued an update to defer the implementation date for smaller reporting companies from 2020 to 2023. The Company currently qualifies as a smaller reporting company under SEC Regulation S-K and, therefore, the guidance is effective for the Company in 2023. Management has gathered all necessary data and selected a method to calculate the expected credit losses. The Company will adopt ASU 2016-13 on January 1, 2023 using the modified retrospective approach. Based on implementation efforts to date, management expects to make an immaterial adjustment to opening retained earnings as a result of its adoption of this standard. The Company is in the process of finalizing its operational and control structure supporting the process.
Reclassification Reclassification

Certain amounts in the 2021 consolidated financial statements may have been reclassified to conform to 2022 presentation. These reclassifications had no effect on 2021 net income.
v3.22.4
Securities Sold under Agreements to Repurchase and Offsetting Assets and Liabilities (Policy)
 12 Months Ended
Dec. 31, 2022
Securities Sold Under Agreements To Repurchase And Offsetting Assets And Liabilities [Abstract]  
Securities Sold Under Agreements To Repurchase Securities sold under agreements to repurchase generally mature within a few days from the transaction date and are reflected at the amount of cash received in connection with the transaction. The securities are retained under the Company’s control at its safekeeping agent. The Company adjusts collateral based on the fair value of the underlying securities, on a monthly basis.
v3.22.4
Summary Of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2022
Summary Of Significant Accounting Policies [Abstract]  
Earnings Per Share

Year Ended December 31,

2022

2021

(Dollars In Thousands, Except Per Share Data)

Net income

$

17,702

$

16,786

Weighted average shares outstanding

7,554,790

7,517,669

Dilutive effect of potential common

shares, stock options

16,438

37,116

Diluted weighted average common

shares outstanding

7,571,228

7,554,785

Basic earnings per share

$

2.34

$

2.23

Diluted earnings per share

$

2.34

$

2.22
v3.22.4
Securities Available For Sale (Tables)
 12 Months Ended
Dec. 31, 2022
Securities Available For Sale [Abstract]  
Amortized Cost And Fair Values Of Securities Available-For-Sale

Gross

Gross

Amortized

Unrealized

Unrealized

Fair

Cost

Gains

Losses

Value

(In Thousands)

December 31, 2022:

U.S. Treasury securities

$

17,217

$

-

$

(446)

$

16,771

U.S. Government agency obligations

34,069

-

(1,518)

32,551

Municipal bonds

73,958

112

(15,453)

58,617

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - commercial

510

-

(76)

434

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - residential

255,930

2

(47,313)

208,619

Total

$

381,684

$

114

$

(64,806)

$

316,992

December 31, 2021:

U.S. Government agency obligations

$

29,146

$

-

$

(288)

$

28,858

Municipal bonds

60,017

1,464

(377)

61,104

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - commercial

511

19

-

530

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - residential

222,101

885

(3,214)

219,772

Total

$

311,775

$

2,368

$

(3,879)

$

310,264
Securities Available-For-Sale By Contractual Maturity

Amortized

Fair

Cost

Value

(In Thousands)

Due in one year or less

$

34,369

$

33,024

Due after one year through five years

19,053

18,352

Due after five years through ten years

5,363

5,135

Due after ten years

66,459

51,428

125,244

107,939

U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial

510

434

U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential

255,930

208,619

$

381,684

$

316,992
Investments' Gross Unrealized Losses And Fair Value

Less Than 12 Months

12 Months or More

Total

Fair Value

Unrealized Losses

Fair Value

Unrealized Losses

Fair Value

Unrealized Losses

December 31, 2022 :

(In Thousands)

U.S. Treasury securities

$

16,771

$

(446)

$

-

$

-

$

16,771

$

(446)

U.S. Government agency obligations

-

-

32,551

(1,518)

32,551

(1,518)

Municipal bonds

32,103

(6,308)

22,099

(9,145)

54,202

(15,453)

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - commercial

434

(76)

-

-

434

(76)

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - residential

32,203

(3,166)

176,281

(44,147)

208,484

(47,313)

Total Temporarily Impaired Securities

$

81,511

$

(9,996)

$

230,931

$

(54,810)

$

312,442

$

(64,806)

December 31, 2021 :

U.S. Government agency obligations

$

9,911

$

(84)

$

18,947

$

(204)

$

28,858

$

(288)

Municipal bonds

20,722

(377)

-

-

20,722

(377)

U.S. Government Sponsored Enterprise (GSE) -
‎   Mortgage-backed securities - residential

190,435

(3,214)

-

-

190,435

(3,214)

Total Temporarily Impaired Securities

$

221,068

$

(3,675)

$

18,947

$

(204)

$

240,015

$

(3,879)
v3.22.4
Loans Receivable and Credit Quality (Tables)
 12 Months Ended
Dec. 31, 2022
Loans Receivable And Credit Quality [Abstract]  
Composition Of Loans Receivable

December 31,

2022

2021

(In Thousands)

Commercial real estate

$

507,300

$

440,655

Commercial construction

16,761

6,100

Commercial

39,520

41,923

Residential real estate

643,975

618,694

Consumer

782

642

Total Loans

1,208,338

1,108,014

Unearned net loan origination costs

275

25

Allowance for Loan Losses

(12,449)

(11,484)

Net Loans

$

1,196,164

$

1,096,555
Activity In Allowance For Loan Losses

Commercial Real Estate

Commercial Construction

Commercial

Residential Real Estate

Consumer

Unallocated

Total

(In Thousands)

Allowance for loan losses

Year Ending December 31, 2022

Beginning Balance - December 31, 2021

$

4,400 

$

71 

$

1,328 

$

4,718 

$

14 

$

953 

$

11,484 

Charge-offs

-

-

-

-

-

-

-

Recoveries

-

-

-

70 

-

-

70 

Provisions

713 

129 

(39)

172 

(1) 

(79)

895 

Ending Balance - December 31, 2022

$

5,113 

$

200 

$

1,289 

$

4,960 

$

13 

$

874 

$

12,449 

Year Ending December 31, 2021

Beginning Balance - December 31, 2020

$

4,379 

$

150 

$

848 

$

4,485 

$

14 

$

694 

$

10,570 

Charge-offs

-

-

-

(2)

(2)

-

(4)

Recoveries

-

-

-

3 

-

-

3 

Provisions

21 

(79)

480 

232 

2 

259 

915 

Ending Balance - December 31, 2021

$

4,400 

$

71 

$

1,328 

$

4,718 

$

14 

$

953 

$

11,484 
Allocation Of Allowance For Loan Losses And Related Loan Portfolio

Commercial Real Estate

Commercial Construction

Commercial

Residential Real Estate

Consumer

Unallocated

Total

(In Thousands)

December 31, 2022

Allowance for Loan Losses

Ending Balance

$

5,113

$

200

$

1,289

$

4,960

$

13

$

874

$

12,449

Ending balance: individually evaluated for impairment

$

-

$

29

$

33

$

107

$

-

$

-

$

169

Ending balance: collectively evaluated for impairment

$

5,113

$

171

$

1,256

$

4,853

$

13

$

874

$

12,280

Loans receivable:

Ending balance

$

507,300

$

16,761

$

39,520

$

643,975

$

782

$

1,208,338

Ending balance: individually evaluated for impairment

$

1,371

$

303

$

240

$

1,317

$

-

$

3,231

Ending balance: collectively evaluated for impairment

$

505,929

$

16,458

$

39,280

$

642,658

$

782

$

1,205,107

December 31, 2021

Allowance for Loan Losses

Ending Balance

$

4,400

$

71

$

1,328

$

4,718

$

14

$

953

$

11,484

Ending balance: individually evaluated for impairment

$

-

$

7

$

41

$

116

$

-

$

-

$

164

Ending balance: collectively evaluated for impairment

$

4,400

$

64

$

1,287

$

4,602

$

14

$

953

$

11,320

Loans receivable:

Ending balance

$

440,655

$

6,100

$

41,923

$

618,694

$

642

$

1,108,014

Ending balance: individually evaluated for impairment

$

1,433

$

311

$

248

$

1,508

$

-

$

3,500

Ending balance: collectively evaluated for impairment

$

439,222

$

5,789

$

41,675

$

617,186

$

642

$

1,104,514
Schedule Of Impaired Loans

Year to Date

Recorded Investment

Unpaid Principal Balance

Related Allowance

Average Recorded Investment

Interest Income Recognized

December 31, 2022

(In Thousands)

With no related allowance recorded:

Commercial real estate

$

1,371

$

1,611

$

1,395

$

66

Commercial construction

55

55

55

3

Commercial

-

-

-

-

Residential real estate

768

772

719

30

Consumer

-

-

-

-

With an allowance recorded:

Commercial real estate

$

-

$

-

$

-

$

-

$

-

Commercial construction

248

248

29

251

8

Commercial

240

240

33

243

10

Residential real estate

549

549

107

560

20

Consumer

-

-

-

-

-

Total:

Commercial real estate

$

1,371

$

1,611

$

-

$

1,395

$

66

Commercial construction

303

303

29

306

11

Commercial

240

240

33

243

10

Residential real estate

1,317

1,321

107

1,279

50

Consumer

-

-

-

-

-

$

3,231

$

3,475

$

169

$

3,223

$

137

December 31, 2021

With no related allowance recorded:

Commercial real estate

$

1,433

$

1,673

$

981

$

69

Commercial construction

55

55

249

2

Commercial

-

-

-

-

Residential real estate

932

1,002

1,283

36

Consumer

-

-

-

-

With an allowance recorded:

Commercial real estate

$

-

$

-

$

-

$

513

$

-

Commercial construction

256

256

7

64

8

Commercial

248

248

41

232

10

Residential real estate

576

576

116

586

21

Consumer

-

-

-

-

-

Total:

Commercial real estate

$

1,433

$

1,673

$

-

$

1,494

$

69

Commercial construction

311

311

7

313

10

Commercial

248

248

41

232

10

Residential real estate

1,508

1,578

116

1,869

57

Consumer

-

-

-

-

-

$

3,500

$

3,810

$

164

$

3,908

$

146
Schedule Of Loan Portfolio By Aggregate Risk Rating

Pass

Special Mention

Substandard

Doubtful

Total

December 31, 2022

(In Thousands)

Commercial real estate

$

505,983

$

-

$

1,317

$

-

$

507,300

Commercial construction

16,458

-

303

-

16,761

Commercial

39,498

22

-

-

39,520

Residential real estate

642,913

467

595

-

643,975

Consumer

782

-

-

-

782

Total

$

1,205,634

$

489

$

2,215

$

-

$

1,208,338

December 31, 2021

Commercial real estate

$

439,280

$

-

$

1,375

$

-

$

440,655

Commercial construction

5,789

-

311

-

6,100

Commercial

41,899

24

-

-

41,923

Residential real estate

617,533

489

672

-

618,694

Consumer

642

-

-

-

642

Total

$

1,105,143

$

513

$

2,358

$

-

$

1,108,014
Schedule Of Nonaccrual Loans

December 31,

2022

2021

(In Thousands)

Commercial real estate

$

-

$

-

Commercial construction

-

-

Commercial

-

-

Residential real estate

192

242

Consumer

-

-

Total

$

192

$

242
Schedule Of Past Due Loans

30-59 Days Past Due

60-89 Days Past Due

Greater than 90 Days Past Due

Total Past Due

Current

Total Loan
‎Receivables

Loan Receivables > 90 Days and Accruing

December 31, 2022

(In Thousands)

Commercial real estate

$

-

$

-

$

-

$

-

$

507,300

$

507,300

$

-

Commercial construction

-

-

-

-

16,761

16,761

-

Commercial

32

-

-

32

39,488

39,520

-

Residential real estate

138

-

192

330

643,645

643,975

-

Consumer

-

-

-

-

782

782

-

Total

$

170

$

-

$

192

$

362

$

1,207,976

$

1,208,338

$

-

December 31, 2021

Commercial real estate

$

-

$

-

$

-

$

-

$

440,655

$

440,655

$

-

Commercial construction

-

-

-

-

6,100

6,100

-

Commercial

-

-

-

-

41,923

41,923

-

Residential real estate

-

12

217

229

618,465

618,694

-

Consumer

-

-

-

-

642

642

-

Total

$

-

$

12

$

217

$

229

$

1,107,785

$

1,108,014

$

-
Troubled Debt Restructuring Outstanding

Accrual Loans

Non-Accrual Loans

Total Modifications

(In Thousands)

December 31, 2022

Commercial real estate

$

986 

$

-

$

986 

Commercial construction

248 

-

248 

Commercial

240 

-

240 

Residential real estate

708 

-

708 

Consumer

-

-

-

Total

$

2,182 

$

-

$

2,182 

December 31, 2021

Commercial real estate

$

1,027 

$

-

$

1,027 

Commercial construction

256 

-

256 

Commercial

248 

-

248 

Residential real estate

806 

13 

819 

Consumer

-

-

-

Total

$

2,337 

$

13 

$

2,350 
Schedule Of New Restructured Loans

Number of Loans

Pre-Modification Outstanding Balance

Post- Modification Outstanding Balance

(Dollars In Thousands)

Year Ending December 31, 2021

Commercial

1

$

24

$

24

1

$

24

$

24
v3.22.4
Financial Instruments With Off-Balance Sheet Risk (Tables)
 12 Months Ended
Dec. 31, 2022
Financial Instruments With Off-Balance Sheet Risk [Abstract]  
Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk

December 31,

2022

2021

(In Thousands)

Commitments to grant loans, fixed

$

4,302 

$

1,877 

Commitments to grant loans, variable

1,500 

-

Unfunded commitments under lines of credit, fixed

50,359 

17,618 

Unfunded commitments under lines of credit, variable

133,065 

135,660 

Standby letters of credit

9,124 

9,522 

Total

$

198,350 

$

164,677 
v3.22.4
Bank Premises And Equipment (Tables)
 12 Months Ended
Dec. 31, 2022
Bank Premises And Equipment [Abstract]  
Components Of Premises And Equipment

December 31,

2022

2021

(In Thousands)

Furniture, fixtures and equipment

$

4,226 

$

4,190 

Leasehold improvements

4,266 

4,129 

Buildings

1,169 

1,163 

Computer equipment and data processing software

2,015 

1,509 

Automobiles

170 

150 

11,846 

11,141 

Accumulated depreciation

(8,003)

(7,147)

$

3,843 

$

3,994 
v3.22.4
Deposits (Tables)
 12 Months Ended
Dec. 31, 2022
Deposits [Abstract]  
Components Of Deposits

December 31,

2022

2021

(In Thousands)

Demand, non-interest bearing

$

381,811 

$

323,513 

Demand, NOW and money market, interest bearing

244,629 

248,401 

Savings

681,394 

739,637 

Time, $250 and over

82,916 

54,739 

Time, other

130,357 

100,735 

Total deposits

$

1,521,107 

$

1,467,025 
Scheduled Maturities Of Time Deposits

2023

$

133,521 

2024

71,659 

2025

5,331 

2026

1,758 

2027

1,004 

$

213,273 
v3.22.4
Securities Sold Under Agreements To Repurchase And Offsetting Assets And Liabilities (Tables)
 12 Months Ended
Dec. 31, 2022
Securities Sold Under Agreements To Repurchase And Offsetting Assets And Liabilities [Abstract]  
Schedule Of Securities Sold Under Agreements To Repurchase

2022

2021

(Dollars In Thousands)

Balance outstanding at December 31

$

13,384 

$

11,252 

Weighted average interest rate at the end of the year

1.038

%

0.068

%

Average daily balance during the year

$

12,879 

$

12,869 

Weighted average interest rate during the year

0.182

%

0.065

%

Maximum month-end balance during the year

$

14,947 

$

15,741 
Schedule Of Liabilities Subject To An Enforceable Master Netting Arrangement Or Repurchase Agreements

Net Amounts

Gross

Gross Amounts

of Liabilities

Amounts of

Offset in the

Presented in the

Recognized

Consolidated

Consolidated

Financial

Cash Collateral

Liabilities

Balance Sheet

Balance Sheet

Instruments

Pledged

Net Amount

(In Thousands)

December 31, 2022

Repurchase Agreements:

Corporate Institutions

$

13,384

$

-

$

13,384

$

(13,384)

$

-

$

-

December 31, 2021

Repurchase Agreements:

Corporate Institutions

$

11,252

$

-

$

11,252

$

(11,252)

$

-

$

-
v3.22.4
Stock Incentive Plan And Employee Stock Purchase Plan (Tables)
 12 Months Ended
Dec. 31, 2022
Stock Incentive Plan And Employee Stock Purchase Plan [Abstract]  
Summary of Non-Vested Stock Awards

Restricted Stock Awards

Weighted Average Grant Date Fair Value

Non-Vested at December 31, 2020

61,784 

$

13.13 

Granted

22,307 

17.60 

Vested

(30,367)

14.19 

Non-Vested at December 31, 2021

53,724 

$

14.38 

Granted

22,632 

19.93

Vested

(20,590)

13.77 

Forfeited

(1,415)

14.55 

Non-Vested at December 31, 2022

54,351 

$

14.85
Schedule Of Stock Options Activity Under The Plans

Number of
‎Options

Weighted
‎Average Exercise Price

Outstanding, December 31, 2020

63,632 

$

7.61 

Granted

-

-

Exercised

(29,742)

7.00 

Forfeited

-

-

Outstanding, December 31, 2021

33,890 

$

8.15 

Granted

-

-

Exercised

(33,890)

8.15 

Forfeited

-

-

Outstanding, December 31, 2022

-

$

-

Exercisable, December 31, 2022

-

$

-
v3.22.4
Other Comprehensive Loss (Tables)
 12 Months Ended
Dec. 31, 2022
Other Comprehensive Loss [Abstract]  
Components Of Other Comprehensive Loss, Both Before Tax And Net Of Tax

Year Ended December 31,

2022

2021

(In Thousands)

Before

Tax

Net of

Before

Tax

Net of

Tax

Effect

Tax

Tax

Effect

Tax

Change in accumulated other comprehensive loss:

Unrealized holding losses on securities
‎   available for sale

$

(63,181)

$

13,268

$

(49,913)

$

(5,205)

$

1,093

$

(4,112)

Reclassification adjustments for gains on securities
‎   transactions included in net income (A),(B)

-

-

-

(24)

5

(19)

Total other comprehensive loss

$

(63,181)

$

13,268

$

(49,913)

$

(5,229)

$

1,098

$

(4,131)

(A) Realized gains on securities transactions included in gain on sales of securities in the accompanying Consolidated Statements of Income.

(B) Tax effect included in income tax expense in the accompanying Consolidated Statements of Income.
Summary Of Realized Gains On Securities Available For Sale, Net Of Tax

Year Ended

Year Ended December 31,

2022

2021

(In Thousands)

Securities available for sale:

Realized gains on securities transactions

$

-

$

(24)

Income taxes

-

5

Net of tax

$

-

$

(19)
Summary Of Accumulated Other Comprehensive Loss, Net Of Tax

Securities

Available

for Sale

(In Thousands)

Year Ended December 31, 2022 and 2021

Balance January 1, 2022

$

(1,194)

Other comprehensive loss before reclassifications

(49,913)

Amounts reclassified from accumulated other
‎   comprehensive income

-

Net other comprehensive loss during the period

(49,913)

Balance December 31, 2022

$

(51,107)

Balance January 1, 2021

$

2,937

Other comprehensive loss before reclassifications

(4,112)

Amounts reclassified from accumulated other
‎   comprehensive income

(19)

Net other comprehensive loss during the period

(4,131)

Balance December 31, 2021

$

(1,194)
v3.22.4
Regulatory Matters (Tables)
 12 Months Ended
Dec. 31, 2022
Regulatory Matters [Abstract]  
Schedule Of Actual Capital Amounts And Ratios

The Bank’s actual capital amounts and ratios at December 31, 2022 and 2021 are presented below:

Actual

For Capital Adequacy
‎Purposes

To be Well Capitalized under
‎Prompt Corrective Action
‎Provisions

Amount

Ratio

Amount

Ratio

Amount

Ratio

(Dollar Amounts in Thousands)

December 31, 2022:

Total capital (to risk-weighted assets)

$

151,624

14.1

%

$

≥

86,159

≥

8.0

%

$

≥

107,699

≥

10.0

%

Tier 1 common capital (to risk-weighted assets)

139,175

12.9

≥

48,465

≥

4.5

≥

70,004

≥

6.5

Tier 1 capital (to risk-weighted assets)

139,175

12.9

≥

64,619

≥

6.0

≥

86,159

≥

8.0

Tier 1 capital (to average assets)

139,175

8.3

≥

66,976

≥

4.0

≥

83,720

≥

5.0

December 31, 2021:

Total capital (to risk-weighted assets)

$

135,004

14.0

%

$

≥

77,045

≥

8.0

%

$

≥

96,306

≥

10.0

%

Tier 1 common capital (to risk-weighted assets)

123,520

12.8

≥

43,338

≥

4.5

≥

62,599

≥

6.5

Tier 1 capital (to risk-weighted assets)

123,520

12.8

≥

57,784

≥

6.0

≥

77,045

≥

8.0

Tier 1 capital (to average assets)

123,520

7.7

≥

64,091

≥

4.0

≥

80,114

≥

5.0


‎

The Company’s actual capital amounts and ratios at December 31, 2022 and 2021 are presented below:

Actual

For Capital Adequacy
‎Purposes

Amount

Ratio

Amount

Ratio

(Dollar Amounts in Thousands)

December 31, 2022:

Total capital (to risk-weighted assets)

$

151,832

14.1

%

$

≥

86,142

≥

8.0

%

Tier 1 common capital (to risk-weighted assets)

139,383

12.9

≥

48,455

≥

4.5

Tier 1 capital (to risk-weighted assets)

139,383

12.9

≥

64,606

≥

6.0

Tier 1 capital (to average assets)

139,383

8.3

≥

66,978

≥

4.0

December 31, 2021:

Total capital (to risk-weighted assets)

$

135,193

14.0

%

$

≥

76,991

≥

8.0

%

Tier 1 common capital (to risk-weighted assets)

123,709

12.9

≥

43,307

≥

4.5

Tier 1 capital (to risk-weighted assets)

123,709

12.9

≥

57,743

≥

6.0

Tier 1 capital (to average assets)

123,709

7.7

≥

64,092

≥

4.0
v3.22.4
Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2022
Fair Value of Financial Instruments [Abstract]  
Fair Value Of Financial Assets Measured On Recurring Basis

Description

(Level 1) Quoted Prices in Active Markets for Identical Assets

(Level 2) Significant Other Observable Inputs

(Level 3) Significant Unobservable Inputs

Total

(In Thousands)

U.S. Treasury securities

$

-

$

16,771

$

-

$

16,771

U.S. Government agency obligations

-

32,551

-

32,551

Municipal bonds

-

58,617

-

58,617

U.S. Government Sponsored Enterprise (GSE) -

Mortgage-backed securities - commercial

-

434

-

434

U.S. Government Sponsored Enterprise (GSE) -

Mortgage-backed securities - residential

-

208,619

-

208,619

December 31, 2022 Securities available for sale

$

-

$

316,992

$

-

$

316,992

U.S. Government agency obligations

$

-

$

28,858

$

-

$

28,858

Municipal bonds

-

61,104

-

61,104

U.S. Government Sponsored Enterprise (GSE) -

Mortgage-backed securities - commercial

-

530

-

530

U.S. Government Sponsored Enterprise (GSE) -

Mortgage-backed securities - residential

-

219,772

-

219,772

December 31, 2021 Securities available for sale

$

-

$

310,264

$

-

$

310,264
Fair Value Of Financial Assets Measured On Nonrecurring Basis

Description

(Level 1) Quoted Prices in Active Markets for Identical Assets

(Level 2) Significant Other Observable Inputs

(Level 3) Significant Unobservable Inputs

Total

(In Thousands)

December 31, 2022 Impaired loans

$

-

$

-

$

868

$

868

December 31, 2021 Impaired loans

$

-

$

-

$

916

$

916
Quantitative Information About Level 3 Fair Value Measurements

Quantitative Information about Level 3 Fair Value Measurements

Description

Fair Value
‎Estimate

Valuation Techniques

Unobservable Input

Range
‎(Weighted Average)

(Dollars In Thousands)

December 31, 2022:

Impaired loans

$

868

Appraisal of collateral and
‎

Appraisal adjustments (1)

0% to -25% (-25.0%)

pending agreement of sale

Liquidation expenses (2)

0% to -7.5% (-7.5%)

December 31, 2021:

Impaired loans

$

916

Appraisal of collateral and
‎

Appraisal adjustments (1)

0% to -25% (-22.8%)

pending agreement of sale

Liquidation expenses (2)

0% to -8.5% (-7.7%)

(1)

Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal.

The range and weighted average of appraisal adjustments are presented as a percent of the appraisal.

(2)

Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average

of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale.
Estimated Fair Value Of Financial Instruments

(Level 1)

Quoted

(Level 2)

Prices in

Significant

(Level 3)

Active

Other

Significant

Carrying

Fair Value

Markets for

Observable

Unobservable

Amount

Estimate

Identical Assets

Inputs

Inputs

(In Thousands)

December 31, 2022:

Financial assets:

Cash and cash equivalents

$

67,295

$

67,295

$

67,295

$

-

$

-

Securities available-for-sale

316,992

316,992

-

316,992

-

Loans receivable, net of allowance

1,196,164

1,163,947

-

-

1,163,947

Paycheck Protection Program loans receivable

286

255

-

-

255

Restricted investments in bank stock

995

995

-

995

-

Accrued interest receivable

2,926

2,926

-

2,926

-

Financial liabilities:

Deposits

1,521,107

1,516,911

-

1,516,911

-

Securities sold under agreements to

repurchase and federal funds purchased

13,384

13,384

-

13,384

-

Accrued interest payable

986

986

-

986

-

Off-balance sheet financial instruments:

Commitments to grant loans

-

-

-

-

-

Unfunded commitments under lines of credit

-

-

-

-

-

Standby letters of credit

-

-

-

-

-

December 31, 2021:

Financial assets:

Cash and cash equivalents

$

169,692

$

169,692

$

169,692

$

-

$

-

Securities available-for-sale

310,264

310,264

-

310,264

-

Loans receivable, net of allowance

1,096,555

1,141,467

-

-

1,141,467

Paycheck Protection Program loans receivable

8,568

8,163

-

8,163

Restricted investments in bank stock

1,424

1,424

-

1,424

-

Accrued interest receivable

2,603

2,603

-

2,603

-

Financial liabilities:

Deposits

1,467,025

1,467,938

-

1,467,938

-

Securities sold under agreements to

repurchase and federal funds purchased

11,252

11,252

-

11,252

-

Long-term borrowings

14,651

14,665

-

-

14,665

Accrued interest payable

652

652

-

652

-

Off-balance sheet financial instruments:

Commitments to grant loans

-

-

-

-

-

Unfunded commitments under lines of credit

-

-

-

-

-

Standby letters of credit

-

-

-

-

-
v3.22.4
Lease Commitments (Tables)
 12 Months Ended
Dec. 31, 2022
Lease Commitments [Abstract]  
Reconciliation of Operating Lease Liabilities by Minimum Lease Payments by Year and in Aggregate and Discount Amounts in Aggregate

Branch Leases

Equipment

Third Parties

Related Parties

Leases

Total

(In Thousands)

2023

$

1,137

$

672

$

41

$

1,850

2024

1,067

685

39

1,791

2025

763

698

22

1,483

2026

741

671

-

1,412

2027

374

55

-

429

Thereafter

864

-

-

864

Total Payments

4,946

2,781

102

7,829

Less: Discount Amount

303

185

1

489

Total Lease Liability

$

4,643

$

2,596

$

101

$

7,340
v3.22.4
Federal Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2022
Federal Income Taxes [Abstract]  
Components Of Income Tax Expense

Year Ended December 31,

2022

2021

(In Thousands)

Current

$

4,639

$

4,324

Deferred

(348)

(258)

Income Tax Expense

$

4,291

$

4,066
Reconciliation Of The Statutory Federal Income Tax

Years Ended December 31,

2022

2021

(In Thousands)

Dollar

%

Dollar

%

Federal income tax at statutory rate

$

4,619

21.0

%

$

4,379

21.0

%

Tax-exempt interest

(281)

(1.3)

%

(243)

(1.2)

%

Bank owned life insurance

(90)

(0.4)

%

(104)

(0.5)

%

Other

43

0.2

%

34

0.2

%

Income Tax Expense

$

4,291

19.5

%

$

4,066

19.5

%
Components Of The Net Deferred Tax Asset (Included In Other Assets)

December 31,

2022

2021

(In Thousands)

Deferred tax assets:

Allowance for loan losses

$

2,614 

$

2,412 

Deferred compensation

1,540 

1,406 

Lease liability

1,541 

1,876 

Unrealized loss on securities available for sale

13,585 

317 

Other

17 

19 

Total Deferred Tax Assets

19,297 

6,030 

Deferred tax liabilities:

Premises and equipment

73 

87 

Prepaid assets

287 

321 

Deferred loan costs

617 

589 

Right of use asset

1,505 

1,834 

Total Deferred Tax Liabilities

$

2,482 

$

2,831 

Net Deferred Tax Asset

$

16,815 

$

3,199 
v3.22.4
Parent Company Only Financial (Tables)
 12 Months Ended
Dec. 31, 2022
Parent Company Only Financial [Abstract]  
Parent Company Only Condensed Balance Sheets

December 31,

2022

2021

(In Thousands)

ASSETS

Cash

$

548 

$

481 

Other assets

49 

43 

Investment in subsidiary

88,067 

122,325 

Total Assets

$

88,664 

$

122,849 

LIABILITIES AND STOCKHOLDERS’ EQUITY

Other liabilities

$

388 

$

334 

Stockholders’ equity

88,276 

122,515 

Total Liabilities and Stockholders’ Equity

$

88,664 

$

122,849 
Parent Company Only Condensed Statements Of Income And Comprehensive Income

Years Ending December 31,

2022

2021

(In Thousands)

Other expenses

$

(560)

$

(482)

Equity in net income of banking subsidiary

18,150 

17,171 

Income before income taxes

17,590 

16,689 

Income tax benefit

112 

97 

Net income

$

17,702 

$

16,786 

Equity in other comprehensive loss of banking subsidiary

(49,913)

(4,131)

Comprehensive (loss) income

$

(32,211)

$

12,655 
Parent Company Only Condensed Statement Of Cash Flows

Years Ending December 31,

2022

2021

(In Thousands)

Cash Flows from Operating Activities:

Net income

$

17,702 

$

16,786 

Adjustments to reconcile net income to net cash provided by

operating activities:

Stock compensation expense

527 

432 

Net change in other assets and liabilities

48 

42 

Equity in net income of banking subsidiary

(18,150)

(17,171)

Net Cash Provided By Operating Activities

127 

89 

Cash Flows Provided By Investing Activities:

Dividend from banking subsidiary

2,495 

2,665 

Cash Flows from Financing Activities:

Exercise of stock options, net of payment for stock

tendered, and proceeds from employee stock purchase plan

189 

177 

Purchase of treasury stock

(100)

(670)

Dividends paid

(2,644)

(2,253)

Net Cash Used in Financing Activities

(2,555)

(2,746)

Net Increase in Cash

67 

8 

Cash – Beginning

481 

473 

Cash - Ending

$

548 

$

481 
v3.22.4
Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Summary Of Significant Accounting Policies [Line Items]    
Other-than-temporary impairment charges $ 0 $ 0
Loan receivable, threshold period past due 90 days  
Impairment of restricted stock $ 0 0
PPP loans guarantee percent by the SBA 100.00%  
Other Real Estate, Foreclosed Assets, and Repossessed Assets $ 0 0
Employer's matching percentage of employee contribution 50.00%  
Percentage of employee gross pay for which employer contributes a matching contribution 8.00%  
Plan vesting period 4 years  
Employer contributions $ 284,000 $ 278,000
Proceeds from Bank owned life insurance $ 717,000  
Stock Options [Member]    
Summary Of Significant Accounting Policies [Line Items]    
Antidilutive securities excluded from computation of diluted earnings per share 0 0
Buildings [Member]    
Summary Of Significant Accounting Policies [Line Items]    
Estimated useful life of an asset 40 years  
Automobiles [Member]    
Summary Of Significant Accounting Policies [Line Items]    
Estimated useful life of an asset 5 years  
Minimum [Member]    
Summary Of Significant Accounting Policies [Line Items]    
Required consecutive service period for the plan participation eligibility 6 months  
Required service hours for the plan participation eligibility 500 hours  
Minimum [Member] | Furniture, Fixtures and Equipment [Member]    
Summary Of Significant Accounting Policies [Line Items]    
Estimated useful life of an asset 5 years  
Minimum [Member] | Computer Equipment and Data Processing Software [Member]    
Summary Of Significant Accounting Policies [Line Items]    
Estimated useful life of an asset 1 year  
Maximum [Member] | Commercial Real Estate [Member]    
Summary Of Significant Accounting Policies [Line Items]    
Loan to value percentage 80.00%  
Maximum [Member] | Residential Real Estate [Member]    
Summary Of Significant Accounting Policies [Line Items]    
Loans amortization period 30 years  
Maximum [Member] | Furniture, Fixtures and Equipment [Member]    
Summary Of Significant Accounting Policies [Line Items]    
Estimated useful life of an asset 10 years  
Maximum [Member] | Computer Equipment and Data Processing Software [Member]    
Summary Of Significant Accounting Policies [Line Items]    
Estimated useful life of an asset 5 years  
Home Equity Loan [Member] | Maximum [Member]    
Summary Of Significant Accounting Policies [Line Items]    
Loans amortization period 25 years  
v3.22.4
Summary Of Significant Accounting Policies (Earnings Per Share) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Summary Of Significant Accounting Policies [Abstract]    
Net income $ 17,702 $ 16,786
Weighted average shares outstanding 7,554,790 7,517,669
Dilutive effect of potential common shares, stock options 16,438 37,116
Diluted weighted average common shares outstanding 7,571,228 7,554,785
Basic earnings per share $ 2.34 $ 2.23
Diluted earnings per share $ 2.34 $ 2.22
v3.22.4
Securities Available For Sale (Narrative) (Details)
 12 Months Ended
Dec. 31, 2022
USD ($)
security
Dec. 31, 2021
USD ($)
security
Securities Available For Sale [Abstract]    
Securities pledged as collateral $ 147,200,000 $ 114,000,000.0
Realized gross gains   24,000
Sale of securities $ 0 3,333,000
Realized gross losses   $ 0
Securities in an unrealized loss position | security 194 70
v3.22.4
Securities Available For Sale (Amortized Cost And Fair Values Of Securities Available-For-Sale) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost $ 381,684 $ 311,775
Gross Unrealized Gains 114 2,368
Gross Unrealized Losses (64,806) (3,879)
Fair Value 316,992 310,264
US Treasury Securities [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 17,217  
Gross Unrealized Losses (446)  
Fair Value 16,771  
U.S Government Agency Obligations [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 34,069 29,146
Gross Unrealized Losses (1,518) (288)
Fair Value 32,551 28,858
Municipal Bonds [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 73,958 60,017
Gross Unrealized Gains 112 1,464
Gross Unrealized Losses (15,453) (377)
Fair Value 58,617 61,104
U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 510 511
Gross Unrealized Gains   19
Gross Unrealized Losses (76)  
Fair Value 434 530
U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost 255,930 222,101
Gross Unrealized Gains 2 885
Gross Unrealized Losses (47,313) (3,214)
Fair Value $ 208,619 $ 219,772
v3.22.4
Securities Available For Sale (Securities Available-For-Sale By Contractual Maturity) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost, Due in one year or less $ 34,369  
Amortized Cost, Due after one year through five years 19,053  
Amortized Cost, Due after five years through ten years 5,363  
Amortized Cost, Due after ten years 66,459  
Amortized Cost, Debt securities expected maturity 125,244  
Amortized Cost, Debt Maturities, Total 381,684 $ 311,775
Fair Value, Due in one year or less 33,024  
Fair Value, Due after one year through five years 18,352  
Fair Value, Due after five years through ten years 5,135  
Fair Value, Due after ten years 51,428  
Fair Value, Debt securities expected maturity 107,939  
Fair Value, Debt maturities, Total 316,992 310,264
U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities 510  
Amortized Cost, Debt Maturities, Total 510 511
Fair Value, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities 434  
Fair Value, Debt maturities, Total 434 530
U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Amortized Cost, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities 255,930  
Amortized Cost, Debt Maturities, Total 255,930 222,101
Fair Value, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities 208,619  
Fair Value, Debt maturities, Total $ 208,619 $ 219,772
v3.22.4
Securities Available For Sale (Investments' Gross Unrealized Losses And Fair Value) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]    
Fair Value, Less Than 12 Months $ 81,511 $ 221,068
Fair Value, 12 Months or More 230,931 18,947
Fair Value, Total 312,442 240,015
Unrealized Losses, Less Than 12 Months (9,996) (3,675)
Unrealized Losses, 12 Months or More (54,810) (204)
Unrealized Losses, Total (64,806) (3,879)
US Treasury Securities [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Fair Value, Less Than 12 Months 16,771  
Fair Value, Total 16,771  
Unrealized Losses, Less Than 12 Months (446)  
Unrealized Losses, Total (446)  
U.S Government Agency Obligations [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Fair Value, Less Than 12 Months   9,911
Fair Value, 12 Months or More 32,551 18,947
Fair Value, Total 32,551 28,858
Unrealized Losses, Less Than 12 Months   (84)
Unrealized Losses, 12 Months or More (1,518) (204)
Unrealized Losses, Total (1,518) (288)
Municipal Bonds [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Fair Value, Less Than 12 Months 32,103 20,722
Fair Value, 12 Months or More 22,099  
Fair Value, Total 54,202 20,722
Unrealized Losses, Less Than 12 Months (6,308) (377)
Unrealized Losses, 12 Months or More (9,145)  
Unrealized Losses, Total (15,453) (377)
Commercial RealEstate [Member] | U.S. GSE - Mortgage-backed Securities [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Fair Value, Less Than 12 Months 434  
Fair Value, Total 434  
Unrealized Losses, Less Than 12 Months (76)  
Unrealized Losses, Total (76)  
Residential [Member] | U.S. GSE - Mortgage-backed Securities [Member]    
Schedule of Available-for-sale Securities [Line Items]    
Fair Value, Less Than 12 Months 32,203 190,435
Fair Value, 12 Months or More 176,281  
Fair Value, Total 208,484 190,435
Unrealized Losses, Less Than 12 Months (3,166) (3,214)
Unrealized Losses, 12 Months or More (44,147)  
Unrealized Losses, Total $ (47,313) $ (3,214)
v3.22.4
Loans Receivable and Credit Quality (Narrative) (Details)
 12 Months Ended
Dec. 31, 2022
USD ($)
loan
Dec. 31, 2021
USD ($)
loan
Dec. 31, 2020
USD ($)
Financing Receivable, Modifications [Line Items]      
PPP loans guarantee percent by the SBA 100.00%    
Loans collateralized by residential real estate in process of foreclosure   $ 217,000  
Number of new TDRs | loan 0 1  
Number of loans experiencing payment default | loan 0 0  
Impairment reserve recorded   $ 24,000  
Outstanding commitments on TDRs $ 0 0  
Financing Receivable, Allowance for Credit Losses 12,449,000 11,484,000 $ 10,570,000
Total Loans $ 1,208,338,000 1,108,014,000  
CARES Act [Member]      
Financing Receivable, Modifications [Line Items]      
Number of PPP loans | loan 2    
PPP loan receivable amount for which SBA loan guarantee approval received $ 286,000 8,600,000  
Unearned origination fees and costs   165,000  
PPP loans guarantee percent by the SBA 100.00%    
Financing Receivable, Allowance for Credit Losses $ 0    
Substandard [Member]      
Financing Receivable, Modifications [Line Items]      
Total Loans 2,215,000 2,358,000  
Consumer [Member]      
Financing Receivable, Modifications [Line Items]      
Financing Receivable, Allowance for Credit Losses 13,000 14,000 14,000
Total Loans 782,000 642,000  
Residential Real Estate [Member]      
Financing Receivable, Modifications [Line Items]      
Financing Receivable, Allowance for Credit Losses 4,960,000 4,718,000 $ 4,485,000
Total Loans 643,975,000 618,694,000  
Residential Real Estate [Member] | Substandard [Member]      
Financing Receivable, Modifications [Line Items]      
Real estate foreclosed assets 0    
Total Loans $ 595,000 $ 672,000  
Loans Payment Accommodation Period Ended [Member] | COVID-19 CARES Act Section 4013 Loans [Member]      
Financing Receivable, Modifications [Line Items]      
Number of loans included in COVID-19 payment accommodations | loan 158 199  
Total Loans $ 98,900,000 $ 116,400,000  
v3.22.4
Loans Receivable and Credit Quality (Composition Of Loans Receivable) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Loans $ 1,208,338 $ 1,108,014
Unearned origination fees 275 25
Allowance for Loan Losses (12,449) (11,484)
Net Loans 1,196,164 1,096,555
Commercial Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Loans 507,300 440,655
Commercial [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Loans 39,520 41,923
Residential Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Loans 643,975 618,694
Consumer [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Loans 782 642
Construction [Member] | Commercial Real Estate [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Loans $ 16,761 $ 6,100
v3.22.4
Loans Receivable and Credit Quality (Activity In Allowance For Loan Losses) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Financing Receivable, Allowance for Credit Losses [Line Items]    
Beginning balance $ 11,484 $ 10,570
Charge-offs   (4)
Recoveries 70 3
Provisions 895 915
Ending balance 12,449 11,484
Commercial Real Estate [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Beginning balance 4,400 4,379
Provisions 713 21
Ending balance 5,113 4,400
Commercial Real Estate [Member] | Construction [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Beginning balance 71  
Ending balance 200 71
Commercial [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Beginning balance 1,328 848
Provisions (39) 480
Ending balance 1,289 1,328
Commercial [Member] | Construction [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Beginning balance 71 150
Provisions 129 (79)
Ending balance 200 71
Residential Real Estate [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Beginning balance 4,718 4,485
Charge-offs   (2)
Recoveries 70 3
Provisions 172 232
Ending balance 4,960 4,718
Consumer [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Beginning balance 14 14
Charge-offs   (2)
Provisions (1) 2
Ending balance 13 14
Unallocated [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Beginning balance 953 694
Provisions (79) 259
Ending balance $ 874 $ 953
v3.22.4
Loans Receivable and Credit Quality (Allocation Of Allowance For Loan Losses And Related Loan Portfolio) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan Losses, Ending Balance $ 12,449 $ 11,484 $ 10,570
Allowance for Loan Losses, Ending balance: individually evaluated for impairment 169 164  
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment 12,280 11,320  
Ending Balance 1,208,338 1,108,014  
Loans receivable, Ending balance: individually evaluated for impairment 3,231 3,500  
Loans receivable, Ending balance: collectively evaluated for impairment 1,205,107 1,104,514  
Commercial Real Estate [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan Losses, Ending Balance 5,113 4,400 4,379
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment 5,113 4,400  
Ending Balance 507,300 440,655  
Loans receivable, Ending balance: individually evaluated for impairment 1,371 1,433  
Loans receivable, Ending balance: collectively evaluated for impairment 505,929 439,222  
Commercial Real Estate [Member] | Construction [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan Losses, Ending Balance 200 71  
Allowance for Loan Losses, Ending balance: individually evaluated for impairment 29 7  
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment 171 64  
Ending Balance 16,761 6,100  
Loans receivable, Ending balance: individually evaluated for impairment 303 311  
Loans receivable, Ending balance: collectively evaluated for impairment 16,458 5,789  
Commercial [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan Losses, Ending Balance 1,289 1,328 848
Allowance for Loan Losses, Ending balance: individually evaluated for impairment 33 41  
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment 1,256 1,287  
Ending Balance 39,520 41,923  
Loans receivable, Ending balance: individually evaluated for impairment 240 248  
Loans receivable, Ending balance: collectively evaluated for impairment 39,280 41,675  
Commercial [Member] | Construction [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan Losses, Ending Balance 200 71 150
Residential Real Estate [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan Losses, Ending Balance 4,960 4,718 4,485
Allowance for Loan Losses, Ending balance: individually evaluated for impairment 107 116  
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment 4,853 4,602  
Ending Balance 643,975 618,694  
Loans receivable, Ending balance: individually evaluated for impairment 1,317 1,508  
Loans receivable, Ending balance: collectively evaluated for impairment 642,658 617,186  
Consumer [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan Losses, Ending Balance 13 14 14
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment 13 14  
Ending Balance 782 642  
Loans receivable, Ending balance: collectively evaluated for impairment 782 642  
Unallocated [Member]      
Financing Receivable, Allowance for Credit Losses [Line Items]      
Allowance for Loan Losses, Ending Balance 874 953 $ 694
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment $ 874 $ 953  
v3.22.4
Loans Receivable and Credit Quality (Schedule Of Impaired Loans) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Financing Receivable, Impaired [Line Items]    
Total Recorded Investment $ 3,231 $ 3,500
Total Unpaid Principal Balance 3,475 3,810
Related Allowance 169 164
Total Average Recorded Investment Impaired 3,223 3,908
Total Interest Income Recognized 137 146
Commercial Real Estate [Member]    
Financing Receivable, Impaired [Line Items]    
Recorded Investment, With no related allowance recorded 1,371 1,433
Total Recorded Investment 1,371 1,433
Unpaid Principal Balance, With no related allowance recorded 1,611 1,673
Total Unpaid Principal Balance 1,611 1,673
Average Recorded Investment, With no related allowance recorded 1,395 981
Average Recorded Investment, With an allowance recorded   513
Total Average Recorded Investment Impaired 1,395 1,494
Interest Income Recognized, With no related allowance recorded 66 69
Total Interest Income Recognized 66 69
Commercial [Member]    
Financing Receivable, Impaired [Line Items]    
Recorded Investment, With an allowance recorded 240 248
Total Recorded Investment 240 248
Unpaid Principal Balance, With an allowance recorded 240 248
Total Unpaid Principal Balance 240 248
Related Allowance 33 41
Average Recorded Investment, With an allowance recorded 243 232
Total Average Recorded Investment Impaired 243 232
Interest Income Recognized, With an allowance recorded 10 10
Total Interest Income Recognized 10 10
Residential Real Estate [Member]    
Financing Receivable, Impaired [Line Items]    
Recorded Investment, With no related allowance recorded 768 932
Recorded Investment, With an allowance recorded 549 576
Total Recorded Investment 1,317 1,508
Unpaid Principal Balance, With no related allowance recorded 772 1,002
Unpaid Principal Balance, With an allowance recorded 549 576
Total Unpaid Principal Balance 1,321 1,578
Related Allowance 107 116
Average Recorded Investment, With no related allowance recorded 719 1,283
Average Recorded Investment, With an allowance recorded 560 586
Total Average Recorded Investment Impaired 1,279 1,869
Interest Income Recognized, With no related allowance recorded 30 36
Interest Income Recognized, With an allowance recorded 20 21
Total Interest Income Recognized 50 57
Construction [Member] | Commercial Real Estate [Member]    
Financing Receivable, Impaired [Line Items]    
Recorded Investment, With no related allowance recorded 55 55
Recorded Investment, With an allowance recorded 248 256
Total Recorded Investment 303 311
Unpaid Principal Balance, With no related allowance recorded 55 55
Unpaid Principal Balance, With an allowance recorded 248 256
Total Unpaid Principal Balance 303 311
Related Allowance 29 7
Average Recorded Investment, With no related allowance recorded 55 249
Average Recorded Investment, With an allowance recorded 251 64
Total Average Recorded Investment Impaired 306 313
Interest Income Recognized, With no related allowance recorded 3 2
Interest Income Recognized, With an allowance recorded 8 8
Total Interest Income Recognized $ 11 $ 10
v3.22.4
Loans Receivable and Credit Quality (Schedule Of Loan Portfolio By Aggregate Risk Rating) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross $ 1,208,338 $ 1,108,014
Pass [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 1,205,634 1,105,143
Special Mention [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 489 513
Substandard [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 2,215 2,358
Commercial Real Estate [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 507,300 440,655
Commercial Real Estate [Member] | Pass [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 505,983 439,280
Commercial Real Estate [Member] | Substandard [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 1,317 1,375
Commercial [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 39,520 41,923
Commercial [Member] | Pass [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 39,498 41,899
Commercial [Member] | Special Mention [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 22 24
Residential Real Estate [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 643,975 618,694
Residential Real Estate [Member] | Pass [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 642,913 617,533
Residential Real Estate [Member] | Special Mention [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 467 489
Residential Real Estate [Member] | Substandard [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 595 672
Consumer [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 782 642
Consumer [Member] | Pass [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 782 642
Construction [Member] | Commercial Real Estate [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 16,761 6,100
Construction [Member] | Commercial Real Estate [Member] | Pass [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross 16,458 5,789
Construction [Member] | Commercial Real Estate [Member] | Substandard [Member]    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Loans and Leases Receivable, Gross $ 303 $ 311
v3.22.4
Loans Receivable and Credit Quality (Schedule Of Nonaccrual Loans) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-Accrual Loans $ 192 $ 242
Commercial Real Estate [Member] | Construction [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-Accrual Loans
Residential Real Estate [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-Accrual Loans 192 242
Consumer [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Non-Accrual Loans
v3.22.4
Loans Receivable and Credit Quality (Schedule Of Past Due Loans) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Loan Receivables $ 1,208,338 $ 1,108,014
30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 170  
60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross   12
Greater than 90 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 192 217
Total Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 362 229
Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 1,207,976 1,107,785
Commercial Real Estate [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Loan Receivables 507,300 440,655
Commercial Real Estate [Member] | Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 507,300 440,655
Commercial [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Loan Receivables 39,520 41,923
Commercial [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 32  
Commercial [Member] | Total Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 32  
Commercial [Member] | Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 39,488 41,923
Residential Real Estate [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Loan Receivables 643,975 618,694
Residential Real Estate [Member] | 30-59 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 138  
Residential Real Estate [Member] | 60-89 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross   12
Residential Real Estate [Member] | Greater than 90 Days Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 192 217
Residential Real Estate [Member] | Total Past Due [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 330 229
Residential Real Estate [Member] | Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 643,645 618,465
Consumer [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Loan Receivables 782 642
Consumer [Member] | Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross 782 642
Construction [Member] | Commercial Real Estate [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Total Loan Receivables 16,761 6,100
Construction [Member] | Commercial Real Estate [Member] | Current [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Receivable, Gross $ 16,761 $ 6,100
v3.22.4
Loans Receivable and Credit Quality (Troubled Debt Restructuring Outstanding) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Financing Receivable, Modifications [Line Items]    
Total Modifications $ 2,182 $ 2,350
Accrual Loans [Member]    
Financing Receivable, Modifications [Line Items]    
Total Modifications 2,182 2,337
Non-Accrual Loans [Member]    
Financing Receivable, Modifications [Line Items]    
Total Modifications   13
Commercial Real Estate [Member]    
Financing Receivable, Modifications [Line Items]    
Total Modifications 986 1,027
Commercial Real Estate [Member] | Accrual Loans [Member]    
Financing Receivable, Modifications [Line Items]    
Total Modifications 986 1,027
Commercial [Member]    
Financing Receivable, Modifications [Line Items]    
Total Modifications 240 248
Commercial [Member] | Accrual Loans [Member]    
Financing Receivable, Modifications [Line Items]    
Total Modifications 240 248
Commercial [Member] | Construction [Member]    
Financing Receivable, Modifications [Line Items]    
Total Modifications 248 256
Commercial [Member] | Construction [Member] | Accrual Loans [Member]    
Financing Receivable, Modifications [Line Items]    
Total Modifications 248 256
Residential Real Estate [Member]    
Financing Receivable, Modifications [Line Items]    
Total Modifications 708 819
Residential Real Estate [Member] | Accrual Loans [Member]    
Financing Receivable, Modifications [Line Items]    
Total Modifications $ 708 806
Residential Real Estate [Member] | Non-Accrual Loans [Member]    
Financing Receivable, Modifications [Line Items]    
Total Modifications   $ 13
v3.22.4
Loans Receivable and Credit Quality (Schedule Of New Restructured Loans) (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
loan
Dec. 31, 2021
USD ($)
loan
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Number of Loans | loan 0 1
Pre-Modification Outstanding Balance   $ 24
Post-Modification Outstanding Balance   $ 24
Commercial [Member]    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Number of Loans | loan   1
Pre-Modification Outstanding Balance   $ 24
Post-Modification Outstanding Balance   $ 24
v3.22.4
Financial Instruments With Off-Balance Sheet Risk (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Financial Instruments With Off-Balance Sheet Risk [Abstract]    
Maximum undiscounted exposure related to financial instruments outstanding $ 9.1 $ 9.5
Approximate value of underlying collateral upon liquidation that would be expected to cover exposure $ 7.6 $ 7.3
v3.22.4
Financial Instruments With Off-Balance Sheet Risk (Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Financial Instruments With Off-Balance Sheet Risk [Abstract]    
Commitments to grant loans, fixed $ 4,302 $ 1,877
Commitments to grant loans, variable 1,500
Unfunded commitments under lines of credit, fixed 50,359 17,618
Unfunded commitments under lines of credit, variable 133,065 135,660
Standby letters of credit 9,124 9,522
Total $ 198,350 $ 164,677
v3.22.4
Bank Premises And Equipment (Components Of Premises And Equipment) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Property, Plant and Equipment [Line Items]    
Premises and equipment $ 11,846 $ 11,141
Accumulated depreciation (8,003) (7,147)
Bank premises and equipment, net 3,843 3,994
Furniture, Fixtures and Equipment [Member]    
Property, Plant and Equipment [Line Items]    
Premises and equipment 4,226 4,190
Leasehold Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Premises and equipment 4,266 4,129
Buildings [Member]    
Property, Plant and Equipment [Line Items]    
Premises and equipment 1,169 1,163
Computer Equipment and Data Processing Software [Member]    
Property, Plant and Equipment [Line Items]    
Premises and equipment 2,015 1,509
Automobiles [Member]    
Property, Plant and Equipment [Line Items]    
Premises and equipment $ 170 $ 150
v3.22.4
Deposits (Components Of Deposits) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Deposits [Abstract]    
Demand, non-interest bearing $ 381,811 $ 323,513
Demand, NOW and money market, interest bearing 244,629 248,401
Savings 681,394 739,637
Time, $250 and over 82,916 54,739
Time, other 130,357 100,735
Total Deposits $ 1,521,107 $ 1,467,025
v3.22.4
Deposits (Scheduled Maturities Of Time Deposits) (Details)
$ in Thousands
Dec. 31, 2022
USD ($)
Deposits [Abstract]  
2023 $ 133,521
2024 71,659
2025 5,331
2026 1,758
2027 1,004
Total time deposits $ 213,273
v3.22.4
Securities Sold under Agreements to Repurchase and Offsetting Assets and Liabilities (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Securities Pledged as Collateral [Member]    
Offsetting Liabilities [Line Items]    
Off-balance sheet financial instruments $ 26.0 $ 20.3
v3.22.4
Securities Sold Under Agreements To Repurchase And Offsetting Assets And Liabilities (Schedule Of Securities Sold Under Agreements To Repurchase) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Securities Sold Under Agreements To Repurchase And Offsetting Assets And Liabilities [Abstract]    
Balance outstanding at December 31 $ 13,384 $ 11,252
Weighted average interest rate at the end of the year 1.038% 0.068%
Average daily balance during the year $ 12,879 $ 12,869
Weighted average interest rate during the year 0.182% 0.065%
Maximum month-end balance during the year $ 14,947 $ 15,741
v3.22.4
Securities Sold under Agreements to Repurchase and Offsetting Assets and Liabilities (Schedule Of Liabilities Subject To An Enforceable Master Netting Arrangement Or Repurchase Agreements) (Details) - Repurchase Agreements [Member] - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Offsetting Liabilities [Line Items]    
Gross Amounts of Recognized Liabilities $ 13,384 $ 11,252
Gross Amounts Offset in the Consolidated Balance Sheet
Net Amounts of Liabilities Presented in the Consolidated Balance Sheets 13,384 11,252
Financial Instruments (13,384) (11,252)
Cash Collateral Pledged
Net Amount
v3.22.4
Short-term and Long-term Borrowings (Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Line of Credit Facility [Line Items]    
Federal Home Loan Bank advance period 60 months  
Maximum borrowing capacity $ 763,500,000  
Available borrowing capacity 763,400,000  
Short-term advances with FHLB outstanding 0 $ 0
Long-term advances FHLB 0 14,700,000
Letters of Credit Outstanding 90,000  
Federal Home Loan Bank Advances [Member]    
Line of Credit Facility [Line Items]    
Line of credit, maximum borrowing capacity 150,000,000.0  
Atlantic Community Bankers Bank (ACBB) [Member    
Line of Credit Facility [Line Items]    
Line of credit, maximum borrowing capacity 10,000,000.0 10,000,000.0
Line of credit outstanding 0 0
Atlantic Community Bankers Bank (ACBB) [Member | Revolving Line of Credit Facility [Member]    
Line of Credit Facility [Line Items]    
Line of credit, maximum borrowing capacity 7,500,000 7,500,000
Line of credit outstanding $ 0 $ 0
v3.22.4
Employment Agreements And Supplemental Executive Retirement Plans (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Employment Agreements And Supplemental Executive Retirement Plans [Abstract]    
Liability accrued under the plan $ 7,300 $ 6,700
Expenses under the plan during period $ 637 $ 688
v3.22.4
Stock Incentive Plan and Employee Stock Purchase Plan (Narrative) (Details) - USD ($)
 12 Months Ended 147 Months Ended
Jun. 20, 2019
Jan. 01, 2017
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2020
Jun. 19, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Stock options granted          
Number of stock options outstanding     0 33,890 0 63,632  
Stock Options [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Stock compensation expense     $ 0 $ 0      
Unrecognized compensation cost     $ 0   $ 0    
Restricted Stock [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Awards granted     22,632 22,307      
Restricted stock awards compensation expense     $ 527,000 $ 432,000      
Minimum [Member] | Restricted Stock [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Award vesting period     2 years        
Maximum [Member] | Restricted Stock [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Award vesting period     9 years        
2010 Stock Incentive Plan [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Award expiration period 10 years            
Award expiration date     Jun. 20, 2029        
Shares available for issuance     407,875   407,875    
2010 Stock Incentive Plan [Member] | Restricted Stock [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Awards granted         232,238    
2010 Stock Incentive Plan [Member] | Maximum [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Award expiration period 10 years            
Number of shares authorized 756,356           500,000
Employee Stock Purchase Plan [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Number of shares authorized     350,000   350,000    
Purchase price for share percentage equal to fair value of such shares   95.00%          
Maximum discount to fair value percentage   15.00%          
Employee stock purchase plan, discount expense     $ 3,000 $ 3,000      
Shares issued during period     21,905        
Employee Stock Purchase Plan [Member] | Minimum [Member]              
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]              
Minimum work hours per week   20 hours          
Minimum months to be eligible to participate   5 months          
v3.22.4
Stock Incentive Plan And Employee Stock Purchase Plan (Summary Of Non-Vested Stock Awards) (Details) - Restricted Stock [Member] - $ / shares
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Non-Vested Awards, Beginning Balance 53,724 61,784
Non-Vested Awards, Granted 22,632 22,307
Non-Vested Awards, Vested (20,590) (30,367)
Non-Vested Awards, Forfeited (1,415)  
Non-Vested Awards, Ending Balance 54,351 53,724
Non-Vested Awards, Beginning Balance, Weighted Average Grant Date Fair Value $ 14.38 $ 13.13
Non-Vested Awards Granted, Weighted Average Grant Date Fair Value 19.93 17.60
Non-Vested Awards Vested, Weighted Average Grant Date Fair Value 13.77 14.19
Non-Vested Awards Forfeited, Weighted Average Grant Date Fair Value 14.55  
Non-Vested Awards, Ending Balance, Weighted Average Grant Date Fair Value $ 14.85 $ 14.38
v3.22.4
Stock Incentive Plan And Employee Stock Purchase Plan (Schedule Of Stock Options Activity Under The Plans) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Stock Incentive Plan And Employee Stock Purchase Plan [Abstract]    
Number of Options Outstanding, Beginning Balance 33,890 63,632
Number of Options Granted
Number of Options Exercised (33,890) (29,742)
Number of Options Forfeited
Number of Options Outstanding, Ending Balance 0 33,890
Number of Options Exercisable,  
Weighted Average Exercise Price Outstanding, Beginning $ 8.15 $ 7.61
Weighted Average Exercise Price Granted
Weighted Average Exercise Price Exercised 8.15 7.00
Weighted Average Exercise Price Forfeited
Weighted Average Exercise Price Outstanding, Ending $ 8.15
Weighted Average Exercise Price Exercisable,  
v3.22.4
Other Comprehensive Loss (Components Of Other Comprehensive Loss, Both Before Tax And Net Of Tax) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Other Comprehensive Loss [Abstract]    
Unrealized holding losses on securities $ (63,181) $ (5,205)
Unrealized holding losses on securities , Tax Effect 13,268 1,093
Unrealized holding losses on securities, Net of Tax (49,913) (4,112)
Reclassification adjustments for gains on securities transactions included in net income, Before Tax   (24)
Reclassification adjustments for gains on securities transactions included in net income: Tax Effect   5
Reclassification adjustments for gains on securities transactions included in net income: Net of Tax   (19)
Total other comprehensive loss, before tax (63,181) (5,229)
Total other comprehensive loss, Tax Effect 13,268 1,098
Total other comprehensive loss, net of tax $ (49,913) $ (4,131)
v3.22.4
Other Comprehensive Loss (Summary Of Realized Gains On Securities Available For Sale, Net Of Tax) (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
USD ($)
Other Comprehensive Loss [Abstract]  
Realized gains on securities transactions $ (24)
Income taxes 5
Reclassification adjustments for gains on securities transactions included in net income: Net of Tax $ (19)
v3.22.4
Other Comprehensive Loss (Summary Of Accumulated Other Comprehensive Loss, Net Of Tax) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Other Comprehensive Loss [Abstract]    
Beginning Balance $ (1,194) $ 2,937
Other comprehensive loss before reclassifications (49,913) (4,112)
Amounts reclassified from accumulated other comprehensive income   (19)
Total other comprehensive loss, net of tax (49,913) (4,131)
Ending Balance $ (51,107) $ (1,194)
v3.22.4
Regulatory Matters (Narrative) (Details) - USD ($)
Mar. 26, 2020
Dec. 31, 2022
Regulatory Matters [Abstract]    
Reserve requirement ratios 0.00%  
Minimum reserve requirement balance   $ 0
v3.22.4
Regulatory Matters (Schedule Of Actual Capital Amounts And Ratios) (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Total capital (to risk-weighted assets) $ 151,832 $ 135,193
Tier 1 common capital (to risk-weighted assets) 139,383 123,709
Tier 1 capital (to risk-weighted assets) 139,383 123,709
Tier 1 capital (to average assets) $ 139,383 $ 123,709
Total capital (to risk-weighted assets) Ratio 0.141 0.140
Tier 1 common capital (to risk-weighted assets) Ratio 0.129 0.129
Tier 1 capital (to risk-weighted assets) Ratio 0.129 0.129
Tier 1 capital (to average assets) Ratio 0.083 0.077
Total capital amount required for capital adequacy purposes $ 86,142 $ 76,991
Tier 1 common capital (to risk-weighted assets) amount required for capital adequacy purposes 48,455 43,307
Tier 1 capital (to risk-weighted assets) amount required for capital adequacy purposes 64,606 57,743
Tier 1 capital (to average assets) amount required for capital adequacy purposes $ 66,978 $ 64,092
Total capital required for capital adequacy purposes ratio 0.080 0.080
Tier 1 common capital (to risk-weighted assets) amount required for capital adequacy purposes Ratio 0.045 0.045
Tier 1 capital (to risk-weighted assets) required for capital adequacy purposes ratio 0.060 0.060
Tier 1 capital (to average assets) capital required for capital adequacy purposes ratio 0.040 0.040
Bank [Member]    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Total capital (to risk-weighted assets) $ 151,624 $ 135,004
Tier 1 common capital (to risk-weighted assets) 139,175 123,520
Tier 1 capital (to risk-weighted assets) 139,175 123,520
Tier 1 capital (to average assets) $ 139,175 $ 123,520
Total capital (to risk-weighted assets) Ratio 0.141 0.140
Tier 1 common capital (to risk-weighted assets) Ratio 0.129 0.128
Tier 1 capital (to risk-weighted assets) Ratio 0.129 0.128
Tier 1 capital (to average assets) Ratio 0.083 0.077
Total capital amount required for capital adequacy purposes $ 86,159 $ 77,045
Tier 1 common capital (to risk-weighted assets) amount required for capital adequacy purposes 48,465 43,338
Tier 1 capital (to risk-weighted assets) amount required for capital adequacy purposes 64,619 57,784
Tier 1 capital (to average assets) amount required for capital adequacy purposes $ 66,976 $ 64,091
Total capital required for capital adequacy purposes ratio 0.080 0.080
Tier 1 common capital (to risk-weighted assets) amount required for capital adequacy purposes Ratio 0.045 0.045
Tier 1 capital (to risk-weighted assets) required for capital adequacy purposes ratio 0.060 0.060
Tier 1 capital (to average assets) capital required for capital adequacy purposes ratio 0.040 0.040
Total capital, To be Well Capitalized under Prompt Corrective Action $ 107,699 $ 96,306
Tier 1 Common Capital, To be Well Capitalized under Prompt Corrective Action 70,004 62,599
Tier 1 capital (to risk-weighted assets), To be Well Capitalized under Prompt Corrective Action 86,159 77,045
Tier 1 capital (to average assets), To be Well Capitalized under Prompt Corrective Action $ 83,720 $ 80,114
Total capital, To be Well Capitalized under Prompt Corrective Action, ratio 0.100 0.100
Tier 1 Common Capital, To be Well Capitalized under Prompt Corrective Action, ratio 0.065 0.065
Tier 1 capital (to risk-weighted assets), To be Well Capitalized under Prompt Corrective Action, ratio 0.080 0.080
Tier 1 capital (to average assets), To be Well Capitalized under Prompt Corrective Action, ratio 0.050 0.050
v3.22.4
Fair Value of Financial Instruments (Narrative) (Details) - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Fair Value of Financial Instruments [Abstract]    
Real estate properties acquired through foreclosure $ 0 $ 0
v3.22.4
Fair Value of Financial Instruments (Fair Value Of Financial Assets Measured On Recurring Basis) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities $ 316,992 $ 310,264
US Treasury Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 16,771  
U.S Government Agency Obligations [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 32,551 28,858
Municipal Bonds [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 58,617 61,104
U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 434 530
U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 208,619 219,772
Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 316,992 310,264
Fair Value, Recurring [Member] | US Treasury Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 16,771  
Fair Value, Recurring [Member] | U.S Government Agency Obligations [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 32,551 28,858
Fair Value, Recurring [Member] | Municipal Bonds [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 58,617 61,104
Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 434 530
Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 208,619 219,772
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities  
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Fair Value, Recurring [Member] | U.S Government Agency Obligations [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Fair Value, Recurring [Member] | Municipal Bonds [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities
(Level 2) Significant Other Observable Inputs [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 316,992 310,264
(Level 2) Significant Other Observable Inputs [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 316,992 310,264
(Level 2) Significant Other Observable Inputs [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 16,771  
(Level 2) Significant Other Observable Inputs [Member] | Fair Value, Recurring [Member] | U.S Government Agency Obligations [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 32,551 28,858
(Level 2) Significant Other Observable Inputs [Member] | Fair Value, Recurring [Member] | Municipal Bonds [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 58,617 61,104
(Level 2) Significant Other Observable Inputs [Member] | Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 434 530
(Level 2) Significant Other Observable Inputs [Member] | Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities 208,619 219,772
(Level 3) Significant Unobservable Inputs [Member] | Fair Value, Recurring [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities
(Level 3) Significant Unobservable Inputs [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities  
(Level 3) Significant Unobservable Inputs [Member] | Fair Value, Recurring [Member] | U.S Government Agency Obligations [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities
(Level 3) Significant Unobservable Inputs [Member] | Fair Value, Recurring [Member] | Municipal Bonds [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities
(Level 3) Significant Unobservable Inputs [Member] | Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities
(Level 3) Significant Unobservable Inputs [Member] | Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale Securities, Debt Securities
v3.22.4
Fair Value of Financial Instruments (Fair Value Of Financial Assets Measured On Nonrecurring Basis) (Details) - Impaired Loans [Member] - Fair Value, Nonrecurring [Member] - FV determined through independent appraisals of the underlying collateral [Member] - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value Estimate $ 868 $ 916
(Level 3) Significant Unobservable Inputs [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value Estimate $ 868 $ 916
v3.22.4
Fair Value of Financial Instruments (Quantitative Information About Level 3 Fair Value Measurements) (Details) - Impaired Loans [Member] - Fair Value, Nonrecurring [Member] - (Level 3) Significant Unobservable Inputs [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Appraisal Adjustment [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets fair value $ 868 $ 916
Appraisal Adjustment [Member] | Minimum [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range 0.00% 0.00%
Appraisal Adjustment [Member] | Maximum [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (25.00%) (25.00%)
Appraisal Adjustment [Member] | Weighted Average [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (25.00%) (22.80%)
Liquidation Expenses [Member] | Minimum [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range 0.00% 0.00%
Liquidation Expenses [Member] | Maximum [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (7.50%) (8.50%)
Liquidation Expenses [Member] | Weighted Average [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Range (7.50%) (7.70%)
v3.22.4
Fair Value of Financial Instruments (Estimated Fair Value Of Financial Instruments) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Securities available for sale $ 316,992 $ 310,264
Paycheck Protection Program loans receivable 286 8,568
Carrying Amount [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 67,295 169,692
Securities available for sale 316,992 310,264
Loans receivable, net of allowance 1,196,164 1,096,555
Paycheck Protection Program loans receivable 286 8,568
Restricted investments in bank stock 995 1,424
Accrued interest receivable 2,926 2,603
Deposits 1,521,107 1,467,025
Securities sold under agreements to repurchase and federal funds purchased 13,384 11,252
Long-term borrowings   14,651
Accrued interest payable 986 652
Fair Value Estimate [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 67,295 169,692
Securities available for sale 316,992 310,264
Loans receivable, net of allowance 1,163,947 1,141,467
Paycheck Protection Program loans receivable 255 8,163
Restricted investments in bank stock 995 1,424
Accrued interest receivable 2,926 2,603
Deposits 1,516,911 1,467,938
Securities sold under agreements to repurchase and federal funds purchased 13,384 11,252
Long-term borrowings   14,665
Accrued interest payable 986 652
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 67,295 169,692
(Level 2) Significant Other Observable Inputs [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Securities available for sale 316,992 310,264
Restricted investments in bank stock 995 1,424
Accrued interest receivable 2,926 2,603
Deposits 1,516,911 1,467,938
Securities sold under agreements to repurchase and federal funds purchased 13,384 11,252
Accrued interest payable 986 652
(Level 3) Significant Unobservable Inputs [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Loans receivable, net of allowance 1,163,947 1,141,467
Paycheck Protection Program loans receivable 255 8,163
Long-term borrowings   14,665
Commitments to grant loans [Member] | Carrying Amount [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Commitments to grant loans [Member] | Fair Value Estimate [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Commitments to grant loans [Member] | (Level 1) Quoted Prices in Active Markets for Identical Assets [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Commitments to grant loans [Member] | (Level 2) Significant Other Observable Inputs [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Commitments to grant loans [Member] | (Level 3) Significant Unobservable Inputs [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Unfunded commitments underlines of credit [Member] | Carrying Amount [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Unfunded commitments underlines of credit [Member] | Fair Value Estimate [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Unfunded commitments underlines of credit [Member] | (Level 1) Quoted Prices in Active Markets for Identical Assets [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Unfunded commitments underlines of credit [Member] | (Level 2) Significant Other Observable Inputs [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Unfunded commitments underlines of credit [Member] | (Level 3) Significant Unobservable Inputs [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Standby Letters of Credit [Member] | Carrying Amount [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Standby Letters of Credit [Member] | Fair Value Estimate [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Standby Letters of Credit [Member] | (Level 1) Quoted Prices in Active Markets for Identical Assets [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Standby Letters of Credit [Member] | (Level 2) Significant Other Observable Inputs [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
Standby Letters of Credit [Member] | (Level 3) Significant Unobservable Inputs [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Off-balance sheet financial instruments
v3.22.4
Transactions With Executive Officers, Directors And Principal Stockholders (Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Transactions With Executive Officers, Directors And Principal Stockholders [Abstract]    
Due from related parties $ 15,300,000 $ 15,300,000
Loan disbursements 1,400  
Loan repayments 1,400,000  
Deposits with related parties 15,400,000 17,100,000
Fees paid for related party legal services $ 51,000 $ 59,000
v3.22.4
Lease Commitments (Narrative) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Right of use asset $ 7,200 $ 8,700
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other Assets Other Assets
Lease liability $ 7,340 $ 8,900
Operating Lease, Liability, Statement of Financial Position [Extensible List] Other Liabilities Other Liabilities
Operating leases weighted average discount rate 2.89% 2.90%
Operating leases weighted average lease term 4 years 11 months 12 days 5 years 9 months 10 days
Rent expense $ 1,800 $ 1,800
Operating cash flow paid for lease liabilities $ 1,800 $ 1,800
Branch Leases [Member]    
Operating leases weighted average discount rate 2.91% 2.93%
Operating leases weighted average lease term 4 years 11 months 23 days 5 years 9 months 29 days
Equipment Leases [Member]    
Lease liability $ 101  
Operating leases weighted average discount rate 0.89% 1.08%
Operating leases weighted average lease term 2 years 6 months 7 days 3 years 2 months 8 days
Related Parties [Member]    
Rent expense $ 661 $ 661
v3.22.4
Lease Commitments (Reconciliation of Operating Lease Liabilities by Minimum Lease Payments by Year and in Aggregate and Discount Amounts in Aggregate) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
2023 $ 1,850  
2024 1,791  
2025 1,483  
2026 1,412  
2027 429  
Thereafter 864  
Total payments 7,829  
Less: Discount Amount 489  
Total Lease Liability 7,340 $ 8,900
Branch Leases Third Parties [Member]    
2023 1,137  
2024 1,067  
2025 763  
2026 741  
2027 374  
Thereafter 864  
Total payments 4,946  
Less: Discount Amount 303  
Total Lease Liability 4,643  
Branch Leases Related Parties [Member]    
2023 672  
2024 685  
2025 698  
2026 671  
2027 55  
Total payments 2,781  
Less: Discount Amount 185  
Total Lease Liability 2,596  
Equipment Leases [Member]    
2023 41  
2024 39  
2025 22  
Total payments 102  
Less: Discount Amount 1  
Total Lease Liability $ 101  
v3.22.4
Federal Income Taxes (Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Federal Income Taxes [Abstract]    
Statutory federal income tax rate 21.00% 21.00%
Unrecognized tax benefits, interest accrued and penalties $ 0 $ 0
v3.22.4
Federal Income Taxes (Components Of Income Tax Expense) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Federal Income Taxes [Abstract]    
Current $ 4,639 $ 4,324
Deferred (348) (258)
Income tax expense $ 4,291 $ 4,066
v3.22.4
Federal Income Taxes (Reconciliation Of The Statutory Federal Income Tax) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Federal Income Taxes [Abstract]    
Federal income tax at statutory rate $ 4,619 $ 4,379
Tax-exempt interest (281) (243)
Bank owned life insurance (90) (104)
Other 43 34
Income tax expense $ 4,291 $ 4,066
Federal income tax at statutory rate, percent 21.00% 21.00%
Tax-exempt interest, percent (1.30%) (1.20%)
Bank owned life insurance, percent (0.40%) (0.50%)
Other, percent 0.20% 0.20%
Income Tax Expense 19.50% 19.50%
v3.22.4
Federal Income Taxes (Components Of The Net Deferred Tax Asset (Included In Other Assets)) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Deferred tax assets:    
Allowance for loan losses $ 2,614 $ 2,412
Deferred compensation 1,540 1,406
Lease liability 1,541 1,876
Unrealized loss on securities available for sale 13,585 317
Other 17 19
Total Deferred Tax Assets 19,297 6,030
Deferred tax liabilities:    
Premises and equipment 73 87
Prepaid assets 287 321
Deferred loan costs 617 589
Right of use asset 1,505 1,834
Total Deferred Tax Liabilities 2,482 2,831
Net Deferred Tax Asset $ 16,815 $ 3,199
v3.22.4
Parent Company Only Financial (Parent Company Only Condensed Balance Sheets) (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
ASSETS      
Cash $ 21,927 $ 15,244  
Other assets 26,123 14,298  
Total Assets 1,640,227 1,633,194  
LIABILITIES AND STOCKHOLDERS' EQUITY      
Other liabilities 16,474 17,099  
Stockholders' equity 88,276 122,515 $ 112,174
Total Liabilities and Stockholders' Equity 1,640,227 1,633,194  
Parent Company [Member]      
ASSETS      
Cash 548 481  
Other assets 49 43  
Investment in subsidiary 88,067 122,325  
Total Assets 88,664 122,849  
LIABILITIES AND STOCKHOLDERS' EQUITY      
Other liabilities 388 334  
Stockholders' equity 88,276 122,515  
Total Liabilities and Stockholders' Equity $ 88,664 $ 122,849  
v3.22.4
Parent Company Only Financial (Parent Company Only Condensed Statements Of Income And Comprehensive (Loss) Income) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Condensed Income Statements, Captions [Line Items]    
Other expenses $ (25,737) $ (24,127)
Income Before Income Taxes 21,993 20,852
Income tax benefit (4,291) (4,066)
Net Income 17,702 16,786
Comprehensive (Loss) Income (32,211) 12,655
Parent Company [Member]    
Condensed Income Statements, Captions [Line Items]    
Other expenses (560) (482)
Equity in net income of banking subsidiary 18,150 17,171
Income Before Income Taxes 17,590 16,689
Income tax benefit 112 97
Net Income 17,702 16,786
Equity in other comprehensive loss of banking subsidiary (49,913) (4,131)
Comprehensive (Loss) Income $ (32,211) $ 12,655
v3.22.4
Parent Company Only Financial (Parent Company Only Condensed Statement Of Cash Flows) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:    
Net income $ 17,702 $ 16,786
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock compensation expense 527 432
Net change in other assets and liabilities 1,778 800
Net Cash Provided by Operating Activities 19,911 15,249
Cash Flows from Financing Activities:    
Exercise of stock options, net of payment for stock tendered, and proceeds from employee stock purchase plan 122 116
Purchase of treasury stock (100) (670)
Dividends paid (2,644) (2,253)
Net Cash Used in Financing Activities 39,008 178,746
Parent Company [Member]    
Cash Flows from Operating Activities:    
Net income 17,702 16,786
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock compensation expense 527 432
Net change in other assets and liabilities 48 42
Equity in net income of banking subsidiary (18,150) (17,171)
Net Cash Provided by Operating Activities 127 89
Cash Flows Provided By Investing Activities:    
Dividend from banking subsidiary 2,495 2,665
Cash Flows from Financing Activities:    
Exercise of stock options, net of payment for stock tendered, and proceeds from employee stock purchase plan 189 177
Purchase of treasury stock (100) (670)
Dividends paid (2,644) (2,253)
Net Cash Used in Financing Activities (2,555) (2,746)
Net Increase in Cash 67 8
CASH - BEGINNING 481 473
CASH - ENDING $ 548 $ 481