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Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 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) |
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 145,938 |  |  | $ | 145,938 |  |  | $ | 145,938 |  |  | $ | - |  |  | $ | - |
Equity securities at fair value |  | 7,816 |  |  |  | 7,816 |  |  |  | 4,919 |  |  |  | - |  |  |  | 2,897 |
Securities available for sale |  | 497,552 |  |  |  | 497,552 |  |  |  | 82,232 |  |  |  | 415,320 |  |  |  | - |
Securities held to maturity |  | 391,954 |  |  |  | 345,900 |  |  |  | - |  |  |  | 331,677 |  |  |  | 14,223 |
Federal Home Loan Bank and Federal |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reserve Bank stock |  | 9,756 |  |  |  | 9,756 |  |  |  | - |  |  |  | 9,756 |  |  |  | - |
Loans held for sale |  | 5,994 |  |  |  | 6,174 |  |  |  | - |  |  |  | 6,174 |  |  |  | - |
Loans, net |  | 1,487,460 |  |  |  | 1,472,115 |  |  |  | - |  |  |  | - |  |  |  | 1,472,115 |
Accrued interest receivable |  | 11,400 |  |  |  | 11,400 |  |  |  | - |  |  |  | 11,400 |  |  |  | - |
Interest rate lock commitments |  | 23 |  |  |  | 23 |  |  |  | - |  |  |  | 23 |  |  |  | - |
Interest rate derivative contracts |  | 6,410 |  |  |  | 6,410 |  |  |  | - |  |  |  | 6,410 |  |  |  | - |
Loan swaps |  | 1,331 |  |  |  | 1,331 |  |  |  | - |  |  |  | 1,331 |  |  |  | - |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noninterest-bearing deposits |  | 521,055 |  |  |  | 521,055 |  |  |  | 521,055 |  |  |  | - |  |  |  | - |
Interest-bearing deposits |  | 1,680,546 |  |  |  | 1,680,622 |  |  |  | - |  |  |  | 1,680,622 |  |  |  | - |
Brokered deposits |  | 6,627 |  |  |  | 6,646 |  |  |  | - |  |  |  | 6,646 |  |  |  | - |
Borrowings |  | 210,000 |  |  |  | 210,349 |  |  |  | - |  |  |  | 210,349 |  |  |  | - |
Subordinated debentures |  | 35,691 |  |  |  | 32,881 |  |  |  | - |  |  |  | 32,881 |  |  |  | - |
Accrued interest payable |  | 6,838 |  |  |  | 6,838 |  |  |  | - |  |  |  | 6,838 |  |  |  | - |
Interest rate derivative contracts |  | 2,004 |  |  |  | 2,004 |  |  |  | - |  |  |  | 2,004 |  |  |  | - |
Loan swaps |  | 1,331 |  |  |  | 1,331 |  |  |  | - |  |  |  | 1,331 |  |  |  | - |
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 |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |

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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 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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- References No definition available. + Details
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