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v3.23.3

Financial Instruments (Tables) | 9 Months Ended
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Sep. 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) |
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 144,673 |  |  | $ | 144,673 |  |  | $ | 144,673 |  |  | $ | - |  |  | $ | - |
Equity securities at fair value |  | 7,262 |  |  |  | 7,262 |  |  |  | 4,543 |  |  |  | - |  |  |  | 2,719 |
Securities available for sale |  | 490,804 |  |  |  | 490,804 |  |  |  | 77,032 |  |  |  | 413,772 |  |  |  | - |
Securities held to maturity |  | 414,743 |  |  |  | 334,625 |  |  |  | - |  |  |  | 322,107 |  |  |  | 12,518 |
Federal Home Loan Bank and Federal |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reserve Bank stock |  | 9,514 |  |  |  | 9,514 |  |  |  | - |  |  |  | 9,514 |  |  |  | - |
Loans held for sale |  | 5,222 |  |  |  | 5,378 |  |  |  | - |  |  |  | 5,378 |  |  |  | - |
Loans, net |  | 1,294,928 |  |  |  | 1,258,262 |  |  |  | - |  |  |  | - |  |  |  | 1,258,262 |
Accrued interest receivable |  | 10,491 |  |  |  | 10,491 |  |  |  | - |  |  |  | 10,491 |  |  |  | - |
Interest rate lock commitments |  | 60 |  |  |  | 60 |  |  |  | - |  |  |  | 60 |  |  |  | - |
Mortgage loan servicing rights |  | 3,944 |  |  |  | 6,050 |  |  |  | - |  |  |  | 6,050 |  |  |  | - |
Interest rate derivative contracts |  | 29,900 |  |  |  | 29,900 |  |  |  | - |  |  |  | 29,900 |  |  |  | - |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing deposits |  | 531,962 |  |  |  | 531,962 |  |  |  | 531,962 |  |  |  | - |  |  |  | - |
Interest-bearing deposits |  | 1,551,995 |  |  |  | 1,549,272 |  |  |  | - |  |  |  | 1,549,272 |  |  |  | - |
Brokered deposits |  | 49,238 |  |  |  | 49,137 |  |  |  | - |  |  |  | 49,137 |  |  |  | - |
Borrowings |  | 180,000 |  |  |  | 179,041 |  |  |  | - |  |  |  | 179,041 |  |  |  | - |
Subordinated debentures |  | 35,446 |  |  |  | 30,751 |  |  |  | - |  |  |  | 30,751 |  |  |  | - |
Accrued interest payable |  | 3,906 |  |  |  | 3,906 |  |  |  | - |  |  |  | 3,906 |  |  |  | - |
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 |  |  |  | - |
Core 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 -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
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