XML 31 R21.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Fair Value Measurements (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Fair Value Disclosures [Abstract] |
Estimated Fair Value of Financial Instruments | The estimated carrying and fair values of the Company’s financial instruments are as follows (in thousands):
|  | September 30, 2022
|  | Carrying Amount |  | Fair Value
(In thousands) |  |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 32,535 |  |  | $ | 32,535 |  |  | $ | — |  |  | $ | — |  |  | $ | 32,535 |
Interest-earning deposits in other banks |  | 9,043 |  |  | 9,043 |  |  | — |  |  | — |  |  | 9,043 |
Available-for-sale debt securities |  | 668,300 |  |  | — |  |  | 668,300 |  |  | — |  |  | 668,300 |
Held-to-maturity investment securities |  | 305,482 |  |  | — |  |  | 267,443 |  |  | — |  |  | 267,443 |
Equity securities |  | 6,544 |  |  | 6,544 |  |  | — |  |  | — |  |  | 6,544 |
Loans, net |  | 1,214,904 |  |  | — |  |  | — |  |  | 1,181,932 |  |  | 1,181,932 |
Federal Home Loan Bank stock |  | 6,169 |  |  | N/A |  | N/A |  | N/A |  | N/A
Accrued interest receivable |  | 9,616 |  |  | 14 |  |  | 5,770 |  |  | 3,832 |  |  | 9,616 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | 2,139,144 |  |  | 2,063,024 |  |  | 75,157 |  |  | — |  |  | 2,138,181 |
Short-term borrowings |  | 25,000 |  |  | — |  |  | 25,000 |  |  | — |  |  | 25,000 |
Senior debt and subordinated debentures |  | 69,563 |  |  | — |  |  | — |  |  | 63,451 |  |  | 63,451 |
Accrued interest payable |  | 608 |  |  | — |  |  | 62 |  |  | 546 |  |  | 608 |
|  | December 31, 2021
|  | Carrying Amount |  | Fair Value
(In thousands) |  |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Financial assets: |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 29,412 |  |  | $ | 29,412 |  |  | $ | — |  |  | $ | — |  |  | $ | 29,412 |
Interest-earning deposits in other banks |  | 134,055 |  |  | 134,055 |  |  | — |  |  | — |  |  | 134,055 |
Available-for-sale debt securities |  | 1,109,208 |  |  | — |  |  | 1,109,208 |  |  | — |  |  | 1,109,208 |
Equity securities |  | 7,416 |  |  | 7,416 |  |  | — |  |  | — |  |  | 7,416 |
Loans, net |  | 1,029,511 |  |  | — |  |  | — |  |  | 1,015,052 |  |  | 1,015,052 |
Federal Home Loan Bank stock |  | 5,595 |  |  | N/A |  | N/A |  | N/A |  | N/A
Accrued interest receivable |  | 9,395 |  |  | 7 |  |  | 6,076 |  |  | 3,312 |  |  | 9,395 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | 2,122,797 |  |  | 2,010,407 |  |  | 89,923 |  |  | — |  |  | 2,100,330 |
Subordinated debentures |  | 39,454 |  |  | — |  |  | — |  |  | 39,463 |  |  | 39,463 |
Accrued interest payable |  | 202 |  |  | — |  |  | 30 |  |  | 172 |  |  | 202 |
Fair Value of Assets on a Recurring Basis | The Company is required or permitted to record the following assets at fair value on a recurring basis under other accounting pronouncements (in thousands):
|  | Fair Value Measurements Using
September 30, 2022 |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Available-for-sale debt securities: |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 8,548 |  |  | $ | — |  |  | $ | 8,548 |  |  | $ | — |
U.S. Government agencies |  | 333 |  |  | — |  |  | 333 |  |  | — |
Obligations of states and political subdivisions |  | 182,598 |  |  | — |  |  | 182,598 |  |  | — |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 115,340 |  |  | — |  |  | 115,340 |  |  | — |
Private label mortgage and asset backed securities |  | 361,481 |  |  | — |  |  | 361,481 |  |  | — |
Equity securities |  | 6,544 |  |  | 6,544 |  |  | — |  |  | — |
Total assets measured at fair value on a recurring basis |  | $ | 674,844 |  |  | $ | 6,544 |  |  | $ | 668,300 |  |  | $ | — |
|  | Fair Value Measurements Using
December 31, 2021 |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Available-for-sale debt securities: |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 9,925 |  |  | $ | — |  |  | $ | 9,925 |  |  | $ | — |
U.S. Government agencies |  | 379 |  |  | — |  |  | 379 |  |  | — |
Obligations of states and political subdivisions |  | 526,467 |  |  | — |  |  | 526,467 |  |  | — |
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations |  | 214,439 |  |  | — |  |  | 214,439 |  |  | — |
Private label mortgage and asset backed securities |  | 313,220 |  |  | — |  |  | 313,220 |  |  | — |
Corporate debt securities |  | 44,778 |  |  | — |  |  | 44,778 |  |  | — |
Equity securities |  | 7,416 |  |  | 7,416 |  |  | — |  |  | — |
Total assets measured at fair value on a recurring basis |  | $ | 1,116,624 |  |  | $ | 7,416 |  |  | $ | 1,109,208 |  |  | $ | — |
Fair Value of Assets on a Non-recurring Basis |
December 31, 2021 |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Impaired loans: |  |  |  |  |  |  |  |
Real estate-construction and other land loans |  | $ | 262 |  |  | $ | — |  |  | $ | — |  |  | $ | 262 |
Total assets measured at fair value on a non-recurring basis |  | $ | 262 |  |  | $ | — |  |  | $ | — |  |  | $ | 262 |

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