XML 81 R49.htm IDEA: XBRL DOCUMENT v3.22.0.1

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value

Fair Value Measurements at December 31, 2021 using:

		(Level 1)				(Level 2)				(Level 3)
Assets measured at fair value on a recurring basis:
Securities available for sale
U.S. Treasury securities and obligations of U.S. Government agencies		$	—			$	47,890			$	—
Obligations of states and political subdivisions			—				298,836				—
Mortgage-backed securities in government sponsored entities			—				213,148				—
Total securities available for sale			—				559,874				—
Equity securities			—				1,072				—
Swap asset			—				11,072				—
Liabilities measured at fair value on a recurring basis:
Swap liability			—				11,072				—
Assets measured at fair value on a nonrecurring basis:
Impaired Loans		$	—			$	—			$	11
Mortgage servicing rights			—				—				2,642

Fair Value Measurements at December 31, 2020 using:

		(Level 1)				(Level 2)				(Level 3)
Assets measured at fair value on a recurring basis:
Securities available for sale
U.S. Treasury securities and obligations of U.S. Government agencies		$	—			$	21,693			$	—
Obligations of states and political subdivisions			—				229,012				—
Mortgage-backed securities in government sponsored entities			—				112,759				—
Total securities available for sale			—				363,464				—
Equity securities			—				886				—
Swap asset			—				21,700				—
Liabilities measured at fair value on a recurring basis:
Swap liability			—				21,764				—
Assets measured at fair value on a nonrecurring basis:
Impaired Loans		$	—			$	—			$	1
Mortgage servicing rights			—				—				2,246
Other Real Estate Owned			—				—				31

Quantitative Information about Level 3 Fair Value Measurements

The following tables presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2021 and 2020.

Quantitative Information about Level 3 Fair Value Measurements

December 31, 2021

Fair Value

Valuation Technique

Unobservable Input

Range

Weighted Average

Impaired loans

$

11

Appraisal of collateral

Appraisal adjustments

10%

10%

Holding period

24 months

24 months

Quantitative Information about Level 3 Fair Value Measurements

December 31, 2020

Fair Value

Valuation Technique

Unobservable Input

Range

Weighted Average

Impaired loans

$

1

Appraisal of collateral

Appraisal adjustments

0% - 30%

19%

Holding period

23 months

23 months

Other real estate owned

$

31

Appraisal of collateral

Appraisal adjustments

10%

10%

Carrying Amount and Fair Value of Financial Instruments Carried at Amortized Cost

The carrying amount and fair value of financial instruments carried at amortized cost were as follows:

December 31, 2021		Carrying Amount				Total Fair Value				Level 1				Level 2				Level 3
Financial Assets:
Cash and due from financial institutions		$	265,969			$	265,969			$	265,969				$        —			$	—
Other securities			17,011				17,011				17,011				—				—
Loans, held for sale			1,972				2,011				2,011				—				—
Loans, net of allowance for loan losses			1,971,238				1,945,638				—				—				1,945,638
Bank owned life insurance			47,176				47,176				47,176				—				—
Accrued interest receivable			7,385				7,385				7,385				—				—
Financial Liabilities:
Nonmaturing deposits			2,170,253				2,170,253				2,170,253				—				—
Time deposits			246,448				247,053				—				—				247,053
Long-term FHLB advances			75,000				75,930				—				—				75,930
Securities sold under agreement to repurchase			25,495				25,495				25,495				—				—
Subordinated debentures			102,813				111,118				—				—				111,118
Accrued interest payable			315				315				315				—				—

December 31, 2020		Carrying Amount				Total Fair Value				Level 1				Level 2				Level 3
Financial Assets:
Cash and due from financial institutions		$	139,522			$	139,522			$	139,522			$	—			$	—
Other securities			20,537				20,537				20,537				—				—
Loans, held for sale			7,001				7,141				7,141				—				—
Loans, net of allowance for loan losses			2,032,474				2,063,249				—				—				2,063,249
Bank owned life insurance			46,976				45,976				45,976				—				—
Accrued interest receivable			9,421				9,421				9,421				—				—
Financial Liabilities:
Nonmaturing deposits			1,902,560				1,902,560				1,902,560				—				—
Time deposits			286,838				288,298				—				—				288,298
Long-term FHLB advances			125,000				130,942				—				—				130,942
Securities sold under agreement to repurchase			28,914				28,914				28,914				—				—
Subordinated debentures			29,427				31,479				—				—				31,479
Accrued interest payable			204				204				204				—				—

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ 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 3
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI http://asc.fasb.org/extlink&oid=123874694&loc=SL7498348-110258

Reference 4: 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

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

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

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis.

+ 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 (bbb)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
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