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Fair value estimates (Tables)

9 Months Ended

Sep. 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
September 30, 2022		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	224,336		$	224,336		$			$
U.S. government-sponsored enterprises			16,351						16,351
State and municipals:
Taxable			56,234						56,234
Tax-exempt			84,586						84,586
Mortgage-backed securities:
U.S. government agencies			1,091						1,091
U.S. government-sponsored enterprises			91,387						91,387
Corporate debt securities			3,605						3,605
Common equity securities			103			103
Total investment securities		$	477,693		$	224,439		$	253,254		$
Loan held for sale		$	653					$	653
Interest rate floor-other assets		$	4					$	4
Interest rate swap-other assets		$	22,953					$	22,953
Interest rate swap-other liabilities		$	(22,089)					$	(22,089)


		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

September 30, 2022

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

553

$

553

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
September 30, 2022		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	553		Appraisal of collateral		Appraisal adjustments		21.6% to 97.0% (70.6)%
							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
September 30, 2022		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and due from banks		$	113,010		$	113,010		$	113,010
Investment securities:
Available-for-sale			477,590			477,590			224,336		$	253,254
Common equity securities			103			103			103
Held-to-maturity			92,771			78,512						78,512
Loans held for sale			653			653						653
Net loans			2,593,884			2,508,050								$	2,508,050
Accrued interest receivable			10,082			10,082						10,082
Mortgage servicing rights			931			1,433						1,433
Restricted equity securities (FHLB and other)			4,502			4,502						4,502
Interest rate floor			4			4						4
Interest rate swaps			22,953			22,953						22,953
Total		$	3,316,483		$	3,216,892
Financial liabilities:
Deposits		$	3,124,140		$	3,113,415					$	3,113,415
Short-term borrowings			14,700			14,700						14,700
Long-term debt			1,104			1,106						1,106
Subordinated debentures			33,000			33,211						33,211
Accrued interest payable			1,129			1,129						1,129
Interest rate swaps			22,089			22,089						22,089
Total		$	3,196,162		$	3,185,650


								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