XML 48 R38.htm IDEA: XBRL DOCUMENT v3.21.1

Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring Basis

Assets and liabilities measured at fair value on a recurring basis, segregated by fair value hierarchy level, are summarized below:

						March 31, 2021
						Fair Value Measurements Using
						Level 1						Level 2						Level 3						Total
						(In Thousands)
Assets:
Securities available-for-sale:
U.S. government agency securities - government-sponsored enterprises						$	—					$	22,235					$	—					$	22,235
Municipal securities						—						24,275						—						24,275
Residential mortgage-backed securities - government issued						—						9,382						—						9,382
Residential mortgage-backed securities - government-sponsored enterprises						—						90,605						—						90,605
Commercial mortgage-backed securities - government issued						—						4,809						—						4,809
Commercial mortgage-backed securities - government-sponsored enterprises						—						19,689						—						19,689
Other securities						—						2,266						—						2,266
Interest rate swaps						—						26,104						—						26,104
Liabilities:
Interest rate swaps						—						29,565						—						29,565

						December 31, 2020
						Fair Value Measurements Using
						Level 1						Level 2						Level 3						Total
						(In Thousands)
Assets:
Securities available-for-sale:
U.S. government agency securities - government-sponsored enterprises						$	—					$	22,629					$	—					$	22,629
Municipal securities						—						24,779						—						24,779
Residential mortgage-backed securities - government issued						—						10,403						—						10,403
Residential mortgage-backed securities - government-sponsored enterprises						—						105,006						—						105,006
Commercial mortgage-backed securities - government issued						—						5,464						—						5,464
Commercial mortgage-backed securities - government-sponsored enterprises						—						13,365						—						13,365
Other securities						—						2,279						—						2,279
Interest rate swaps						—						49,377						—						49,377
Liabilities:
Interest rate swaps						—						54,927						—						54,927

Fair Value Measurements, Nonrecurring Basis

Assets and liabilities measured at fair value on a non-recurring basis, segregated by fair value hierarchy are summarized below:

						March 31, 2021
						Fair Value Measurements Using
						Level 1						Level 2						Level 3						Total
						(In Thousands)
Impaired loans						$	—					$	—					$	12,935					$	12,935
Foreclosed properties						—						—						31						31
Loan servicing rights						—						—						1,370						1,370

						December 31, 2020
						Fair Value Measurements Using
						Level 1						Level 2						Level 3						Total
						(In Thousands)
Impaired loans						$	—					$	—					$	17,203					$	17,203
Foreclosed properties						—						—						34						34
Loan servicing rights						—						—						1,325						1,325

Fair Value, by Balance Sheet Grouping

Fair value estimates, methods, and assumptions, consistent with exit price concepts for fair value measurements, are set forth below:

						March 31, 2021
						Carrying Amount						Fair Value
												Total						Level 1						Level 2						Level 3
						(In Thousands)
Financial assets:
Cash and cash equivalents						$	58,874					$	58,874					$	58,874					$	—					$	—
Securities available-for-sale						173,261						173,261						—						173,261						—
Securities held-to-maturity						24,783						25,537						—						25,537						—
Loans held for sale						6,576						7,167						—						7,167						—
Loans and lease receivables, net						2,206,130						2,210,391						—						—						2,210,391
Federal Home Loan Bank stock						14,941						N/A						N/A						N/A						N/A
Accrued interest receivable						7,794						7,794						7,794						—						—
Interest rate swaps						26,104						26,104						—						26,104						—
Financial liabilities:
Deposits						1,902,718						1,903,873						1,815,408						88,465						—
Federal Home Loan Bank advances and other borrowings						448,417						459,775						—						459,775						—
Junior subordinated notes						10,065						9,990						—						—						9,990
Accrued interest payable						969						969						969						—						—
Interest rate swaps						29,565						29,565						—						29,565						—
Off-balance sheet items:
Standby letters of credit						134						134						—						—						134

N/A = The fair value is not applicable due to restrictions placed on transferability

						December 31, 2020
						Carrying Amount						Fair Value
												Total						Level 1						Level 2						Level 3
						(In Thousands)
Financial assets:
Cash and cash equivalents						$	56,909					$	56,909					$	56,909					$	—					$	—
Securities available-for-sale						183,925						183,925						—						183,925						—
Securities held-to-maturity						26,374						27,333						—						27,333						—
Loans held for sale						8,695						9,478						—						9,478						—
Loans and lease receivables, net						2,117,449						2,121,107						—						—						2,121,107
Federal Home Loan Bank stock						13,578						N/A						N/A						N/A						N/A
Accrued interest receivable						8,564						8,564						8,564						—						—
Interest rate swaps						49,377						49,377						—						49,377						—
Financial liabilities:
Deposits						1,855,516						1,856,910						1,743,314						113,596						—
Federal Home Loan Bank advances and other borrowings						419,167						429,347						—						429,347						—
Junior subordinated notes						10,062						9,986						—						—						9,986
Accrued interest payable						1,578						1,578						1,578						—						—
Interest rate swaps						54,927						54,927						—						54,927						—
Off-balance sheet items:
Standby letters of credit						75						75						—						—						75

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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 (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 3: 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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 http://asc.fasb.org/extlink&oid=121572278&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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration