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Fair value estimates (Tables)

3 Months Ended

Mar. 31, 2022

Fair value estimates

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
March 31, 2022		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	237,672		$	237,672					$
U.S. government-sponsored enterprises			28,021					$	28,021
State and municipals:
Taxable			63,112						63,112
Tax-exempt			93,467						93,467
Mortgage-backed securities:
U.S. government agencies			1,571						1,571
U.S. government-sponsored enterprises			108,815						108,815
Corporate debt securities			2,824						2,824
Common equity securities			144			144
Total investment securities		$	535,626		$	237,816		$	297,810		$
Loan held for sale		$	161					$	161
Interest rate floor-other assets		$	333					$	333
Interest rate swap-other assets		$	10,720					$	10,720
Interest rate swap-other liabilities		$	(10,265)					$	(10,265)


		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
December 31, 2021		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	191,574		$	191,574					$
U.S. government-sponsored enterprises			33,778					$	33,778
State and municipals:
Taxable			68,978						68,978
Tax-exempt			98,250						98,250
Mortgage-backed securities:
U.S. government agencies			1,843						1,843
U.S. government-sponsored enterprises			119,980						119,980
Corporate debt securities			2,918						2,918
Common equity securities			140			140
Total investment securities		$	517,461		$	191,714		$	325,747		$
Loan held for sale		$	408					$	408
Interest rate floor-other assets		$	844					$	844
Interest rate swap-other assets		$	9,026					$	9,026
Interest rate swap-other liabilities		$	(8,811)					$	(8,811)

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

March 31, 2022

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

620

$

620

Other real estate owned

$

$

Fair Value Measurement Using

Quoted Prices in

Significant Other

Significant

Active Markets for

Observable

Unobservable

Identical Assets

Inputs

Inputs

December 31, 2021

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

780

$

780

Other real estate owned

$

487

$

487

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
March 31, 2022		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	620		Appraisal of collateral		Appraisal adjustments		6.4% to 98.5% (68.3)%
							Liquidation expenses		3.0% to 6.0% (5.2)%
Other real estate owned		$	—		Appraisal of collateral		Appraisal adjustments
							Liquidation expenses


		Quantitative Information about Level 3 Fair Value Measurements
		Fair Value							Range
December 31, 2021		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	780		Appraisal of collateral		Appraisal adjustments		6.4% to 97.0% (65.2)%
							Liquidation expenses		3.0% to 6.0% (5.1)%
Other real estate owned		$	487		Appraisal of collateral		Appraisal adjustments		35.9% to 35.9% (35.9)%
							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
March 31, 2022		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and due from banks		$	141,503		$	141,503		$	141,503
Investment securities:
Available-for-sale			535,482			535,482			237,672		$	297,810
Common equity securities			144			144			144
Held-to-maturity			95,829			89,280						89,280
Loans held for sale			161			161						161
Net loans			2,369,274			2,333,676								$	2,333,676
Accrued interest receivable			9,221			9,221						9,221
Mortgage servicing rights			909			1,398						1,398
Restricted equity securities (FHLB and other)			3,455			3,455						3,455
Interest rate floor			333			333						333
Interest rate swaps			10,720			10,720						10,720
Total		$	3,167,031		$	3,125,373
Financial liabilities:
Deposits		$	2,964,864		$	2,960,470					$	2,960,470
Long-term debt			2,182			2,214						2,214
Subordinated debentures			33,000			33,152						33,152
Accrued interest payable			844			844						844
Interest rate swaps			10,265			10,265						10,265
Total		$	3,011,155		$	3,006,945


								Fair Value Hierarchy
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
December 31, 2021		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and due from banks		$	279,933		$	279,933		$	279,933
Investment securities:
Available-for-sale			517,321			517,321			191,574		$	325,747
Common equity securities			140			140			140
Held-to-maturity			71,213			70,446						70,446
Loans held for sale			408			408						408
Net loans			2,300,790			2,261,586								$	2,261,586
Accrued interest receivable			8,528			8,528						8,528
Mortgage servicing rights			882			1,357						1,357
Restricted equity securities (FHLB and other)			4,045			4,045						4,045
Interest rate floor			844			844						844
Interest rate swaps			9,026			9,026						9,026
Total		$	3,193,130		$	3,153,634
Financial liabilities:
Deposits		$	2,963,397		$	2,963,547					$	2,963,547
Long-term debt			2,711			2,778						2,778
Subordinated debentures			33,000			32,337						32,337
Accrued interest payable			408			408						408
Interest rate swaps			8,811			8,811						8,811
Total		$	3,008,327		$	3,007,881