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v3.23.2

Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 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) |
June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 76,810 |  |  | $ | 76,810 |  |  | $ | 76,810 |  |  | $ | - |  |  | $ | - |
Equity securities at fair value |  | 8,299 |  |  |  | 8,299 |  |  |  | 5,599 |  |  |  | - |  |  |  | 2,700 |
Securities available for sale |  | 521,202 |  |  |  | 521,202 |  |  |  | 78,395 |  |  |  | 442,807 |  |  |  | - |
Securities held to maturity |  | 420,549 |  |  |  | 351,825 |  |  |  | - |  |  |  | 337,944 |  |  |  | 13,881 |
Federal Home Loan Bank and Federal |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reserve Bank stock |  | 13,431 |  |  |  | 13,431 |  |  |  | - |  |  |  | 13,431 |  |  |  | - |
Loans held for sale |  | 8,924 |  |  |  | 9,192 |  |  |  | - |  |  |  | 9,192 |  |  |  | - |
Loans to other financial institutions |  | 38,838 |  |  |  | 38,838 |  |  |  | - |  |  |  | 38,838 |  |  |  | - |
Loans, net |  | 1,249,646 |  |  |  | 1,195,843 |  |  |  | - |  |  |  | - |  |  |  | 1,195,843 |
Accrued interest receivable |  | 8,650 |  |  |  | 8,650 |  |  |  | - |  |  |  | 8,650 |  |  |  | - |
Interest rate lock commitments |  | 126 |  |  |  | 126 |  |  |  | - |  |  |  | 126 |  |  |  | - |
Mortgage loan servicing rights |  | 4,030 |  |  |  | 5,769 |  |  |  | - |  |  |  | 5,769 |  |  |  | - |
Interest rate derivative contracts |  | 11,177 |  |  |  | 11,177 |  |  |  | - |  |  |  | 11,177 |  |  |  | - |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing deposits |  | 544,925 |  |  |  | 544,925 |  |  |  | 544,925 |  |  |  | - |  |  |  | - |
Interest-bearing deposits |  | 1,490,093 |  |  |  | 1,486,941 |  |  |  | - |  |  |  | 1,486,941 |  |  |  | - |
Brokered deposits |  | 51,370 |  |  |  | 51,292 |  |  |  | - |  |  |  | 51,292 |  |  |  | - |
Borrowings |  | 160,000 |  |  |  | 159,122 |  |  |  | - |  |  |  | 159,122 |  |  |  | - |
Subordinated debentures |  | 35,385 |  |  |  | 30,613 |  |  |  | - |  |  |  | 30,613 |  |  |  | - |
Accrued interest payable |  | 1,952 |  |  |  | 1,952 |  |  |  | - |  |  |  | 1,952 |  |  |  | - |
Interest rate derivative contracts |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
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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