XML 47 R38.htm IDEA: XBRL DOCUMENT v3.22.2

Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2022

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:

						June 30, 2022
						Fair Value Measurements Using
						Level 1						Level 2						Level 3						Total
						(In Thousands)
Assets:
Securities available-for-sale:
U.S. treasuries						$	—					$	4,573					$	—					$	4,573
U.S. government agency securities - government-sponsored enterprises						—						16,914						—						16,914
Municipal securities						—						38,774						—						38,774
Residential mortgage-backed securities - government issued						—						15,866						—						15,866
Residential mortgage-backed securities - government-sponsored enterprises						—						95,958						—						95,958
Commercial mortgage-backed securities - government issued						—						3,497						—						3,497
Commercial mortgage-backed securities - government-sponsored enterprises						—						32,080						—						32,080
Other securities						—						981						—						981
Interest rate swaps						—						44,461						—						44,461
Liabilities:
Interest rate swaps						—						40,357						—						40,357

						December 31, 2021
						Fair Value Measurements Using
						Level 1						Level 2						Level 3						Total
						(In Thousands)
Assets:
Securities available-for-sale:
U.S. treasuries						$	—					$	4,914					$	—					$	4,914
U.S. government agency securities - government-sponsored enterprises						—						19,935						—						19,935
Municipal securities						—						30,957						—						30,957
Residential mortgage-backed securities - government issued						—						19,661						—						19,661
Residential mortgage-backed securities - government-sponsored enterprises						—						85,705						—						85,705
Commercial mortgage-backed securities - government issued						—						5,771						—						5,771
Commercial mortgage-backed securities - government-sponsored enterprises						—						36,531						—						36,531
Other securities						—						2,228						—						2,228
Interest rate swaps						—						26,343						—						26,343
Liabilities:
Interest rate swaps						—						28,283						—						28,283

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:

						June 30, 2022
						Fair Value Measurements Using
						Level 1						Level 2						Level 3						Total
						(In Thousands)
Impaired loans						$	—					$	—					$	720					$	720
Foreclosed properties						—						—						124						124
Loan servicing rights						—						—						1,594						1,594

						December 31, 2021
						Fair Value Measurements Using
						Level 1						Level 2						Level 3						Total
						(In Thousands)
Impaired loans						$	—					$	—					$	1,000					$	1,000
Foreclosed properties						—						—						164						164
Loan servicing rights						—						—						1,601						1,601

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:

						June 30, 2022
						Carrying Amount						Fair Value
												Total						Level 1						Level 2						Level 3
						(In Thousands)
Financial assets:
Cash and cash equivalents						$	95,484					$	95,484					$	95,484					$	—					$	—
Securities available-for-sale						208,643						208,643						—						208,643						—
Securities held-to-maturity						13,968						13,849						—						13,849						—
Loans held for sale						2,256						2,437						—						2,437						—
Loans and lease receivables, net						2,265,996						2,258,728						—						—						2,258,728
Federal Home Loan Bank stock						22,959						N/A						N/A						N/A						N/A
Accrued interest receivable						6,433						6,433						6,433						—						—
Interest rate swaps						44,461						44,461						—						44,461						—
Financial liabilities:
Deposits						1,869,331						1,869,191						1,743,010						126,181						—
Federal Home Loan Bank advances and other borrowings						596,642						587,308						—						587,308						—
Accrued interest payable						1,708						1,708						1,708						—						—
Interest rate swaps						40,357						40,357						—						40,357						—
Off-balance sheet items:
Standby letters of credit						116						116						—						—						116

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

						December 31, 2021
						Carrying Amount						Fair Value
												Total						Level 1						Level 2						Level 3
						(In Thousands)
Financial assets:
Cash and cash equivalents						$	57,110					$	57,110					$	57,110					$	—					$	—
Securities available-for-sale						205,702						205,702						—						205,702						—
Securities held-to-maturity						19,746						20,276						—						20,276						—
Loans held for sale						3,570						3,927						—						3,927						—
Loans and lease receivables, net						2,215,072						2,241,093						—						—						2,241,093
Federal Home Loan Bank stock						13,336						N/A						N/A						N/A						N/A
Accrued interest receivable						5,497						5,497						5,497						—						—
Interest rate swaps						26,343						26,343						—						26,343						—
Financial liabilities:
Deposits						1,957,923						1,968,195						1,894,273						73,922						—
Federal Home Loan Bank advances and other borrowings						403,451						409,894						—						409,894						—
Junior subordinated notes						10,076						8,844						—						—						8,844
Accrued interest payable						1,008						1,008						1,008						—						—
Interest rate swaps						28,283						28,283						—						28,283						—
Off-balance sheet items:
Standby letters of credit						203						203						—						—						203

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=123874694&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=123874694&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=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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=123594938&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=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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=123874694&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=123874694&loc=d3e19207-110258

+ Details

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