XML 27 R12.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Securities | 12 Months Ended
--- | ---
Dec. 31, 2021
Securities [Abstract] |
Securities | Note 4. Securities The amortized cost and fair value of securities available-for-sale and securities held-to-maturity at December 31, 2021 and 2020 are summarized as follow (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
Available-for-sale: | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Value
U.S. Treasury | ​ | $ | 138,212 | ​ | $ | 64 | ​ | $ | (518) | ​ | $ | 137,758
U.S. Government-sponsored enterprises (GSEs) | ​ | ​ | 21,898 | ​ | ​ | 76 | ​ | ​ | (173) | ​ | ​ | 21,801
Municipal securities | ​ |  | 67,310 | ​ |  | 512 | ​ |  | (2) | ​ |  | 67,820
Other debt securities | ​ |  | 26,989 | ​ |  | 313 | ​ |  | (82) | ​ |  | 27,220
Mortgage-backed securities (GSEs) | ​ |  | 228,011 | ​ |  | 971 | ​ |  | (1,128) | ​ |  | 227,854
Total | ​ | $ | 482,420 | ​ | $ | 1,936 | ​ | $ | (1,903) | ​ | $ | 482,453
​ ​ ​ ​ ​ ​
​ ​ ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
Held-to-maturity: | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Value
U.S. Government-sponsored enterprises (GSEs) | ​ | $ | 31,023 | ​ | $ | 20 | ​ | $ | (87) | ​ | $ | 30,956
Municipal securities | ​ |  | 45,946 | ​ |  | 63 | ​ |  | (19) | ​ |  | 45,990
Total | ​ | $ | 76,969 | ​ | $ | 83 | ​ | $ | (106) | ​ | $ | 76,946
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair
Available-for-sale: | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Value
U.S. Government-sponsored enterprises (GSEs) | ​ | $ | 30,526 | ​ | $ | 10 | ​ | $ | (6) | ​ | $ | 30,530
Municipal securities | ​ |  | 89,644 | ​ |  | 2,345 | ​ |  | — | ​ |  | 91,989
Other debt securities | ​ |  | 25,019 | ​ |  | 112 | ​ |  | (13) | ​ |  | 25,118
Mortgage-backed securities (GSEs) | ​ |  | 66,425 | ​ |  | 1,754 | ​ |  | (182) | ​ |  | 67,997
Total | ​ | $ | 211,614 | ​ | $ | 4,221 | ​ | $ | (201) | ​ | $ | 215,634
​ At December 31, 2021 and 2020, securities with a carrying value totaling approximately $201.2 million and $80.2 million, respectively, were pledged to secure public funds and securities sold under agreements to repurchase. During the fourth quarter of 2021, the Company transferred $74.6 million of available-for-sale debt securities to the held-to-maturity category, reflecting the Company’s intent to hold those securities to maturity. Transfers of investment securities into the held-to-maturity category from the available-for-sale category are made at fair value at the date of transfer. The related $905 thousand of unrealized holding gain that was included in the transfer is retained in accumulated other comprehensive income and in the carrying value of the held-to-maturity securities. This amount will be amortized as an adjustment to interest income over the remaining life of the securities. This will offset the impact of amortization of the net premium created in the transfer. There were no gains or losses recognized as a result of this transfer. ​ The Company has entered into various fair value hedging transactions to mitigate the impact of changing interest rates on the fair values of available for sale securities. See Note 18 - Derivatives for disclosure of the gains and losses recognized on derivative instruments and the cumulative fair value hedging adjustments to the carrying amount of the hedged securities. ​ The amortized cost and estimated market value of securities by contractual maturity, are shown below (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ |  | Amortized |  | Fair
Available-for-sale: | ​ | Cost | ​ | Value
Due in one year or less | ​ | $ | 907 | ​ | $ | 911
Due from one year to five years | ​ |  | 66,807 | ​ |  | 66,584
Due from five years to ten years | ​ |  | 131,800 | ​ |  | 131,926
Due after ten years | ​ |  | 54,895 | ​ |  | 55,178
​ | ​ |  | 254,409 | ​ |  | 254,599
Mortgage-backed securities | ​ |  | 228,011 | ​ |  | 227,854
Total | ​ | $ | 482,420 | ​ | $ | 482,453
​ | ​ | ​ | ​ | ​ | ​ | ​
Held-to-maturity: | ​ | ​ | ​ | ​ | ​ | ​
Due in one year or less | ​ | $ | — | ​ | $ | —
Due from one year to five years | ​ |  | — | ​ |  | —
Due from five years to ten years | ​ |  | 4,061 | ​ |  | 4,051
Due after ten years | ​ |  | 72,908 | ​ |  | 72,895
​ | ​ |  | 76,969 | ​ |  | 76,946
Mortgage-backed securities | ​ |  | — | ​ |  | —
Total | ​ | $ | 76,969 | ​ | $ | 76,946
​ The following tables present the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities available-for-sale and securities held-to-maturity have been in a continuous unrealized loss position, as of December 31, 2021 and 2020 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ | ​ | Less than 12 Months | ​ | 12 Months or Greater | ​ | Total
​ |  | ​ | ​ |  | Gross | ​ | Number |  | ​ | ​ |  | Gross | ​ | Number |  | ​ | ​ |  | Gross | ​ | Number
​ | ​ | Fair | ​ | Unrealized | ​ | of | ​ | Fair | ​ | Unrealized | ​ | of | ​ | Fair | ​ | Unrealized | ​ | of
Available-for-sale: | ​ | Value | ​ | Losses | ​ | Securities | ​ | Value | ​ | Losses | ​ | Securities | ​ | Value | ​ | Losses | ​ | Securities
U.S. Treasury | ​ | $ | 99,959 | ​ | $ | (518) | ​ | 11 | ​ | $ | — | ​ | $ | — | ​ | — | ​ | $ | 99,959 | ​ | $ | (518) | ​ | 11
U.S. Government-sponsored enterprises (GSEs) | ​ | ​ | 14,156 | ​ | ​ | (168) | ​ | 2 | ​ | ​ | 579 | ​ | ​ | (5) | ​ | 2 | ​ | ​ | 14,735 | ​ | ​ | (173) | ​ | 4
Municipal securities | ​ |  | 2,519 | ​ |  | (2) | ​ | 1 | ​ |  | — | ​ |  | — | ​ | — | ​ |  | 2,519 | ​ |  | (2) | ​ | 1
Other debt securities | ​ |  | 5,983 | ​ |  | (82) | ​ | 6 | ​ |  | — | ​ |  | — | ​ | — | ​ |  | 5,983 | ​ |  | (82) | ​ | 6
Mortgage-backed securities (GSEs) | ​ |  | 159,725 | ​ |  | (1,002) | ​ | 31 | ​ |  | 8,233 | ​ |  | (126) | ​ | 6 | ​ |  | 167,958 | ​ |  | (1,128) | ​ | 37
Total | ​ | $ | 282,342 | ​ | $ | (1,772) | ​ | 51 | ​ | $ | 8,812 | ​ | $ | (131) | ​ | 8 | ​ | $ | 291,154 | ​ | $ | (1,903) | ​ | 59
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ ​ | ​ | December 31, 2021
​ | ​ | Less than 12 Months | ​ | 12 Months or Greater | ​ | Total
​ |  | ​ | ​ |  | Gross | ​ | Number |  | ​ | ​ |  | Gross | ​ | Number |  | ​ | ​ |  | Gross | ​ | Number
​ | ​ | Fair | ​ | Unrealized | ​ | of | ​ | Fair | ​ | Unrealized | ​ | of | ​ | Fair | ​ | Unrealized | ​ | of
Held-to-maturity: | ​ | Value | ​ | Losses | ​ | Securities | ​ | Value | ​ | Losses | ​ | Securities | ​ | Value | ​ | Losses | ​ | Securities
U.S. Government-sponsored enterprises (GSEs) | ​ | $ | 21,901 | ​ | $ | (87) | ​ | 8 | ​ | $ | — | ​ | $ | — | ​ | — | ​ | $ | 21,901 | ​ | $ | (87) | ​ | 8
Municipal securities | ​ |  | 4,173 | ​ |  | (19) | ​ | 6 | ​ |  | — | ​ |  | — | ​ | — | ​ |  | 4,173 | ​ |  | (19) | ​ | 6
Total | ​ | $ | 26,074 | ​ | $ | (106) | ​ | 14 | ​ | $ | — | ​ | $ | — | ​ | — | ​ | $ | 26,074 | ​ | $ | (106) | ​ | 14
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020
​ | ​ | Less than 12 Months | ​ | 12 Months or Greater | ​ | Total
​ |  | ​ | ​ |  | Gross | ​ | Number |  | ​ | ​ |  | Gross | ​ | Number |  | ​ | ​ |  | Gross | ​ | Number
​ | ​ | Fair | ​ | Unrealized | ​ | of | ​ | Fair | ​ | Unrealized | ​ | of | ​ | Fair | ​ | Unrealized | ​ | of
Available-for-sale: | ​ | Value | ​ | Losses | ​ | Securities | ​ | Value | ​ | Losses | ​ | Securities | ​ | Value | ​ | Losses | ​ | Securities
December 31, 2020: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Government-sponsored enterprises (GSEs) | ​ | $ | 15,510 | ​ | $ | (5) | ​ | 3 | ​ | $ | 132 | ​ | $ | (1) | ​ | 1 | ​ | $ | 15,642 | ​ | $ | (6) | ​ | 4
Other debt securities | ​ |  | 1,495 | ​ |  | (5) | ​ | 1 | ​ |  | 977 | ​ |  | (8) | ​ | 1 | ​ |  | 2,472 | ​ |  | (13) | ​ | 2
Mortgage-backed securities (GSEs) | ​ |  | 9,790 | ​ |  | (87) | ​ | 6 | ​ |  | 6,083 | ​ |  | (95) | ​ | 3 | ​ |  | 15,873 | ​ |  | (182) | ​ | 9
Total | ​ | $ | 26,795 | ​ | $ | (97) | ​ | 10 | ​ | $ | 7,192 | ​ | $ | (104) | ​ | 5 | ​ | $ | 33,987 | ​ | $ | (201) | ​ | 15
​ The Company reviews the securities portfolio on a quarterly basis to monitor its exposure to other-than-temporary impairment. A determination as to whether a security’s decline in fair value is other-than-temporary takes into consideration numerous factors and the relative significance of any single factor can vary by security. Some factors the Company may consider in the other-than-temporary impairment analysis include the length of time and extent to which the security has been in an unrealized loss position, changes in security ratings, financial condition and near-term prospects of the issuer, as well as security and industry specific economic conditions. Based on this evaluation, the Company concluded that any unrealized losses at December 31, 2021 represented a temporary impairment, as these unrealized losses are primarily attributable to changes in interest rates and current market conditions, and not credit deterioration of the issuers. As of December 31, 2021, the Company does not intend to sell any of the securities, does not expect to be required to sell any of the securities, and expects to recover the entire amortized cost of all of the securities. Other Investments: Our other investments consist of restricted non-marketable equity securities that have no readily determinable market value. Accordingly, when evaluating these securities for impairment, management considers the ultimate recoverability of the par value rather than recognizing temporary declines in value. As of December 31, 2021, the Company determined that there was no impairment on its other investment securities. The following is the amortized cost and carrying value of other investments (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
​ |  | 2021 |  | 2020
Federal Reserve Bank stock | ​ | $ | 9,693 |  | $ | 8,606
Federal Home Loan Bank stock | ​ |  | 6,451 |  | ​ | 5,838
First National Bankers Bank stock | ​ |  | 350 |  | ​ | 350
Total | ​ | $ | 16,494 | ​ | $ | 14,794
​

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration