XML 27 R21.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2024
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, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

150,129

 

 

$

150,129

 

 

$

150,129

 

 

$

-

 

 

$

-

 

Equity securities at fair value

 

7,560

 

 

 

7,560

 

 

 

4,705

 

 

 

-

 

 

 

2,855

 

Securities available for sale

 

504,636

 

 

 

504,636

 

 

 

79,276

 

 

 

425,360

 

 

 

-

 

Securities held to maturity

 

397,981

 

 

 

339,210

 

 

 

-

 

 

 

326,243

 

 

 

12,967

 

Federal Home Loan Bank and Federal

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reserve Bank stock

 

9,515

 

 

 

9,515

 

 

 

-

 

 

 

9,515

 

 

 

-

 

Loans held for sale

 

6,035

 

 

 

6,216

 

 

 

-

 

 

 

6,216

 

 

 

-

 

Loans, net

 

1,402,553

 

 

 

1,360,841

 

 

 

-

 

 

 

-

 

 

 

1,360,841

 

Accrued interest receivable

 

11,454

 

 

 

11,454

 

 

 

-

 

 

 

11,454

 

 

 

-

 

Interest rate lock commitments

 

73

 

 

 

73

 

 

 

-

 

 

 

73

 

 

 

-

 

Interest rate derivative contracts

 

20,231

 

 

 

20,231

 

 

 

-

 

 

 

20,231

 

 

 

-

 

Loan swaps

 

18

 

 

 

18

 

 

 

-

 

 

 

18

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noninterest-bearing deposits

 

502,685

 

 

 

502,685

 

 

 

502,685

 

 

 

-

 

 

 

-

 

Interest-bearing deposits

 

1,641,193

 

 

 

1,639,387

 

 

 

-

 

 

 

1,639,387

 

 

 

-

 

Brokered deposits

 

41,970

 

 

 

41,900

 

 

 

-

 

 

 

41,900

 

 

 

-

 

Borrowings

 

210,000

 

 

 

209,629

 

 

 

-

 

 

 

209,629

 

 

 

-

 

Subordinated debentures

 

35,568

 

 

 

31,659

 

 

 

-

 

 

 

31,659

 

 

 

-

 

Accrued interest payable

 

2,955

 

 

 

2,955

 

 

 

-

 

 

 

2,955

 

 

 

-

 

Interest rate derivative contracts

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Loan swaps

 

18

 

 

 

18

 

 

 

-

 

 

 

18

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

55,433

 

 

$

55,433

 

 

$

55,433

 

 

$

-

 

 

$

-

 

Equity securities at fair value

 

7,505

 

 

 

7,505

 

 

 

4,749

 

 

 

-

 

 

 

2,756

 

Securities available for sale

 

514,598

 

 

 

514,598

 

 

 

80,194

 

 

 

434,404

 

 

 

-

 

Securities held to maturity

 

407,959

 

 

 

348,791

 

 

 

-

 

 

 

335,493

 

 

 

13,298

 

Federal Home Loan Bank and Federal

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reserve Bank stock

 

9,514

 

 

 

9,514

 

 

 

-

 

 

 

9,514

 

 

 

-

 

Loans held for sale

 

4,710

 

 

 

4,851

 

 

 

-

 

 

 

4,851

 

 

 

-

 

Loans, net

 

1,394,968

 

 

 

1,362,920

 

 

 

-

 

 

 

-

 

 

 

1,362,920

 

Accrued interest receivable

 

10,066

 

 

 

10,066

 

 

 

-

 

 

 

10,066

 

 

 

-

 

Interest rate lock commitments

 

64

 

 

 

64

 

 

 

-

 

 

 

64

 

 

 

-

 

Interest rate derivative contracts

 

8,880

 

 

 

8,880

 

 

 

-

 

 

 

8,880

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Noninterest-bearing deposits

 

547,625

 

 

 

547,625

 

 

 

547,625

 

 

 

-

 

 

 

-

 

Interest-bearing deposits

 

1,550,985

 

 

 

1,549,386

 

 

 

-

 

 

 

1,549,386

 

 

 

-

 

Brokered deposits

 

23,445

 

 

 

23,435

 

 

 

-

 

 

 

23,435

 

 

 

-

 

Borrowings

 

200,000

 

 

 

199,743

 

 

 

-

 

 

 

199,743

 

 

 

-

 

Subordinated debentures

 

35,507

 

 

 

31,748

 

 

 

-

 

 

 

31,748

 

 

 

-

 

Accrued interest payable

 

6,223

 

 

 

6,223

 

 

 

-

 

 

 

6,223

 

 

 

-

 

Interest rate derivative contracts

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-