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Fair value estimates (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2022		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	236,458		$	236,458		$			$
U.S. government-sponsored enterprises			23,165						23,165
State and municipals:
Taxable			59,972						59,972
Tax-exempt			89,272						89,272
Mortgage-backed securities:
U.S. government agencies			1,276						1,276
U.S. government-sponsored enterprises			100,058						100,058
Corporate debt securities			3,710						3,710
Common equity securities			121			121
Total investment securities		$	514,032		$	236,579		$	277,453		$
Loan held for sale		$	681					$	681
Interest rate floor-other assets		$	97					$	97
Interest rate swap-other assets		$	14,720					$	14,720
Interest rate swap-other liabilities		$	(13,982)					$	(13,982)


		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

June 30, 2022

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

638

$

638

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
June 30, 2022		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	638		Appraisal of collateral		Appraisal adjustments		19.8% to 97.0% (70.5)%
							Liquidation expenses		3.0% to 6.0% (5.2)%


		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
June 30, 2022		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and due from banks		$	47,733		$	47,733		$	47,733
Investment securities:
Available-for-sale			513,911			513,911			236,458		$	277,453
Common equity securities			121			121			121
Held-to-maturity			94,446			84,076						84,076
Loans held for sale			681			681						681
Net loans			2,536,205			2,507,034								$	2,507,034
Accrued interest receivable			9,303			9,303						9,303
Mortgage servicing rights			919			1,414						1,414
Restricted equity securities (FHLB and other)			8,537			8,537						8,537
Interest rate floor			97			97						97
Interest rate swaps			14,720			14,720						14,720
Total		$	3,226,673		$	3,187,627
Financial liabilities:
Deposits		$	2,911,283		$	2,903,800					$	2,903,800
Short-term borrowings			129,170			129,083						129,083
Long-term debt			1,646			1,657						1,657
Subordinated debentures			33,000			33,286						33,286
Accrued interest payable			1,269			1,269						1,269
Interest rate swaps			13,982			13,982						13,982
Total		$	3,090,350		$	3,083,077


								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