Company: EMYB
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001449794-25-000002
Chunk: 41

Company: Embassy Bancorp, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7A
Chunk 41
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 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, 2024 and 2023 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$ - $ 34,740 $ - $ 34,740 U.S. Government agency obligations  -   12,446   -   12,446 Municipal bonds  -   58,000   -   58,000 U.S. Government Sponsored Enterprise (GSE) -               Mortgage-backed securities - commercial  -   436   -   436 U.S. Government Sponsored Enterprise (GSE) -               Mortgage-backed securities - residential  -   175,206   -   175,206 December 31, 2024 Securities available for sale$ - $ 280,828 $ - $ 280,828              U.S. Treasury securities$ - $ 14,590 $ - $ 14,590 U.S. Government agency obligations  -   2,339   -   2,339 Municipal bonds  -   60,796   -   60,796 U.S. Government Sponsored Enterprise (GSE) -               Mortgage-backed securities - commercial  -   442   -   442 U.S. Government Sponsored Enterprise (GSE) -                Mortgage-backed securities - residential  -   197,893   -   197,893 December 31, 2023 Securities available for sale$ - $ 276,060 $ - $ 276,060 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,