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Fair value of financial instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair value of financial instruments

Schedule of assets and liabilities measured at fair value on a recurring basis


		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
December 31, 2020		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	18,905		$	18,905					$
U.S. government-sponsored enterprises			65,188					$	65,188
State and municipals:
Taxable			55,366						55,366
Tax-exempt			56,994						56,994
Mortgage-backed securities:
U.S. government agencies			3,707						3,707
U.S. government-sponsored enterprises			94,751						94,751
Corporate debt securities			1,000						1,000
Common equity securities			138			138
Loan held for sale			837						837
Interest rate floor-other assets			1,678						1,678
Interest rate swap-other assets			13,693						13,693
Interest rate swap-other liabilities			(14,099)						(14,099)
Total		$	298,158		$	19,043		$	279,115		$


		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
December 31, 2019		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	24,128		$	24,128					$
U.S. government-sponsored enterprises			87,110					$	87,110
State and municipals:
Taxable			34,898						34,898
Tax-exempt			60,163						60,163
Mortgage-backed securities:
U.S. government agencies			8,470						8,470
U.S. government-sponsored enterprises			115,709						115,709
Common equity securities			423			423
Loan held for sale			986						986
Interest rate floor-other assets			944						944
Interest rate swap-other assets			4,728						4,728
Interest rate swap-other liabilities			(4,680)						(4,680)
Total		$	332,879		$	24,551		$	308,328		$

Schedule of assets and liabilities measured at fair value on a nonrecurring basis

Fair Value Measurement Using

Quoted Prices in

Significant

Significant

Active Markets for

Other Observable

Unobservable

Identical Assets

Inputs

Inputs

December 31, 2020

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

2,884

$

2,884

Other real estate owned

$

527

$

527

Fair Value Measurement Using

Quoted Prices in

Significant Other

Significant

Active Markets for

Observable

Unobservable

Identical Assets

Inputs

Inputs

December 31, 2019

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

1,808

$

1,808

Other real estate owned

$

283

$

283

Schedule of additional quantitative information about assets measured at fair value on a nonrecurring basis


		Quantitative Information about Level 3 Fair Value Measurements
		Fair Value							Range
December 31, 2020		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	2,884		Appraisal of collateral		Appraisal adjustments		9.0% to 97.0% (28.2)%
							Liquidation expenses		3.0% to 6.0% (5.5)%
Other real estate owned		$	527		Appraisal of collateral		Appraisal adjustments		3.1% to 58.1% (29.9)%
							Liquidation expenses		3.0% to 6.0% (5.0)%


		Quantitative Information about Level 3 Fair Value Measurements
		Fair Value							Range
December 31, 2019		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	1,808		Appraisal of collateral		Appraisal adjustments		8.6% to 97.0% (54.4)%
							Liquidation expenses		3.0% to 6.0% (5.2)%
Other real estate owned		$	283		Appraisal of collateral		Appraisal adjustments		20.0% to 63.6% (43.7)%
							Liquidation expenses		3.0% to 6.0% (5.0)%

Schedule of carrying and fair values of financial instruments


								Fair Value Hierarchy
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
December 31, 2020		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and due from banks		$	228,192		$	228,192		$	228,192
Investment securities:
Available-for-sale			295,911			295,911			18,905		$	277,006
Common equity securities			138			138			138
Held-to-maturity			7,225			7,513						7,513
Loans held for sale			837			837						837
Net loans			2,150,638			2,145,752								$	2,145,752
Accrued interest receivable			8,255			8,255						8,255
Mortgage servicing rights			838			1,269						1,269
Restricted equity securities (FHLB and other)			5,397			5,397						5,397
Interest rate floor			1,678			1,678						1,678
Interest rate swaps			13,693			13,693						13,693
Total		$	2,712,802		$	2,708,635
Financial liabilities:
Deposits		$	2,437,113		$	2,441,014					$	2,441,014
Long-term debt			14,769			15,073						15,073
Subordinated debentures			33,000			33,096						33,096
Accrued interest payable			736			736						736
Interest rate swaps			14,099			14,099						14,099
Total		$	2,499,717		$	2,504,018


								Fair Value Hierarchy
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
December 31, 2019		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and due from banks		$	31,153		$	31,153		$	31,153
Investment securities:
Available-for-sale			330,478			330,478			24,128		$	306,350
Common equity securities			423			423			423
Held-to-maturity			7,656			7,889						7,889
Loans held for sale			986			986						986
Net loans			1,915,563			1,881,658								$	1,881,658
Accrued interest receivable			6,981			6,981						6,981
Mortgage servicing rights			738			1,444						1,444
Restricted equity securities (FHLB and other)			10,201			10,201						10,201
Interest rate floor			944			944						944
Interest rate swaps			4,728			4,728						4,728
Total		$	2,309,851		$	2,276,885
Financial liabilities:
Deposits		$	1,971,489		$	1,972,084					$	1,972,084
Long-term debt			32,733			33,075						33,075
Accrued interest payable			1,277			1,277						1,277
Interest rate swaps			4,680			4,680						4,680
Total		$	2,010,179		$	2,011,116