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v3.23.1

Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2023
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] |
Summary of Financial Instruments | Financial instruments as of the dates indicated were as follows:
|  |  |  |  |  |  | Quoted Prices |  |  |  |  |  |  |
|  |  |  |  |  |  | In Active |  |  | Significant |  |  |  |
|  |  |  |  |  |  | Markets for |  |  | Other |  |  | Significant |
|  |  |  |  |  |  | Identical |  |  | Observable |  |  | Unobservable |
(Dollars in thousands) | Carrying |  |  | Estimated |  |  | Assets |  |  | Inputs |  |  | Inputs |
| Amount |  |  | Fair Value |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 55,189 |  |  | $ | 55,189 |  |  | $ | 55,189 |  |  | $ | - |  |  | $ | - |
Equity securities at fair value |  | 8,699 |  |  |  | 8,699 |  |  |  | 6,062 |  |  |  | - |  |  |  | 2,637 |
Securities available for sale |  | 535,348 |  |  |  | 535,348 |  |  |  | 79,975 |  |  |  | 455,373 |  |  |  | - |
Securities held to maturity |  | 422,876 |  |  |  | 358,373 |  |  |  | - |  |  |  | 342,946 |  |  |  | 15,427 |
Federal Home Loan Bank and Federal |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reserve Bank stock |  | 10,259 |  |  |  | 10,259 |  |  |  | - |  |  |  | 10,259 |  |  |  | - |
Loans held for sale |  | 3,603 |  |  |  | 3,711 |  |  |  | - |  |  |  | 3,711 |  |  |  | - |
Loans to other financial institutions |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Loans, net |  | 1,195,518 |  |  |  | 1,151,264 |  |  |  | - |  |  |  | - |  |  |  | 1,151,264 |
Accrued interest receivable |  | 9,652 |  |  |  | 9,652 |  |  |  | - |  |  |  | 9,652 |  |  |  | - |
Interest rate lock commitments |  | 87 |  |  |  | 87 |  |  |  | - |  |  |  | 87 |  |  |  | - |
Mortgage loan servicing rights |  | 4,165 |  |  |  | 5,623 |  |  |  | - |  |  |  | 5,623 |  |  |  | - |
Interest rate derivative contracts |  | 2,244 |  |  |  | 2,244 |  |  |  | - |  |  |  | 2,244 |  |  |  | - |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing deposits |  | 554,699 |  |  |  | 554,699 |  |  |  | 554,699 |  |  |  | - |  |  |  | - |
Interest-bearing deposits |  | 1,513,429 |  |  |  | 1,510,549 |  |  |  | - |  |  |  | 1,510,549 |  |  |  | - |
Brokered deposits |  | 37,773 |  |  |  | 37,698 |  |  |  | - |  |  |  | 37,698 |  |  |  | - |
Borrowings |  | 85,000 |  |  |  | 85,000 |  |  |  | - |  |  |  | 85,000 |  |  |  | - |
Subordinated debentures |  | 35,323 |  |  |  | 30,883 |  |  |  | - |  |  |  | 30,883 |  |  |  | - |
Accrued interest payable |  | 438 |  |  |  | 438 |  |  |  | - |  |  |  | 438 |  |  |  | - |
Interest rate derivative contracts |  | 3,790 |  |  |  | 3,790 |  |  |  | - |  |  |  | 3,790 |  |  |  | - |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 43,943 |  |  | $ | 43,943 |  |  | $ | 43,943 |  |  | $ | - |  |  | $ | - |
Equity securities at fair value |  | 8,566 |  |  |  | 8,566 |  |  |  | 6,024 |  |  |  | - |  |  |  | 2,542 |
Securities available for sale |  | 529,749 |  |  |  | 529,749 |  |  |  | 78,204 |  |  |  | 451,545 |  |  |  | - |
Securities held to maturity |  | 425,906 |  |  |  | 353,901 |  |  |  | - |  |  |  | 338,583 |  |  |  | 15,318 |
Federal Home Loan Bank and Federal |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reserve Bank stock |  | 8,581 |  |  |  | 8,581 |  |  |  | - |  |  |  | 8,581 |  |  |  | - |
Loans held for sale |  | 4,834 |  |  |  | 4,979 |  |  |  | - |  |  |  | 4,979 |  |  |  | - |
Loans to other financial institutions |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Loans, net |  | 1,182,163 |  |  |  | 1,123,198 |  |  |  | - |  |  |  | - |  |  |  | 1,123,198 |
Accrued interest receivable |  | 8,949 |  |  |  | 8,949 |  |  |  | - |  |  |  | 8,949 |  |  |  | - |
Interest rate lock commitments |  | 28 |  |  |  | 28 |  |  |  | - |  |  |  | 28 |  |  |  | - |
Mortgage loan servicing rights |  | 4,322 |  |  |  | 5,855 |  |  |  | - |  |  |  | 5,855 |  |  |  | - |
Interest rate derivative contracts |  | 9,204 |  |  |  | 9,204 |  |  |  | - |  |  |  | 9,204 |  |  |  | - |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing deposits |  | 599,579 |  |  |  | 599,579 |  |  |  | 599,579 |  |  |  | - |  |  |  | - |
Interest-bearing deposits |  | 1,518,424 |  |  |  | 1,514,294 |  |  |  | - |  |  |  | 1,514,294 |  |  |  | - |
Borrowings |  | 50,000 |  |  |  | 50,000 |  |  |  | - |  |  |  | 50,000 |  |  |  | - |
Subordinated debentures |  | 35,262 |  |  |  | 30,304 |  |  |  | - |  |  |  | 30,304 |  |  |  | - |
Accrued interest payable |  | 610 |  |  |  | 610 |  |  |  | - |  |  |  | 610 |  |  |  | - |
Interest rate derivative contracts |  | 5,823 |  |  |  | 5,823 |  |  |  | - |  |  |  | 5,823 |  |  |  | - |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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