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Fair Value Accounting (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Assets And Liabilities Measured at Fair Value on Recurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020.

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		March 31, 2021
(dollars in thousands)		Level 1			Level 2		Level 3		Total
Assets
Securities available for sale
US government agencies		$	-		7,263		-		7,263
SBA securities			-		480		-		480
State and political subdivisions			-		19,811		-		19,811
Asset-backed securities			-		11,283		-		11,283
Mortgage-backed securities			-		54,160		-		54,160
Mortgage loans held for sale			-		57,073		-		57,073
Mortgage loan interest rate lock commitments			-		794		-		794
MBS forward sales commitments			-		497		-		497
Total assets measured at fair value on a recurring basis		$	-		151,361		-		151,361

		December 31, 2020
(dollars in thousands)		Level 1			Level 2		Level 3		Total
Assets
Securities available for sale:
US government agencies		$	-		6,493		-		6,493
SBA securities			-		485		-		485
State and political subdivisions			-		19,388		-		19,388
Asset-backed securities			-		11,529		-		11,529
Mortgage-backed securities			-		56,834		-		56,834
Mortgage loans held for sale			-		60,257		-		60,257
Mortgage loan interest rate lock commitments			-		2,385		-		2,385
Total assets measured at fair value on a recurring basis		$	-		157,371		-		157,371
Liabilities
MBS forward sales commitments		$	-		501		-		501
Total liabilities measured at fair value on a recurring basis		$	-		501		-		501

Schedule of Assets And Liabilities Measured at Fair Value on Nonrecurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a nonrecurring basis as of March 31, 2021 and December 31, 2020.

		As of March 31, 2021
(dollars in thousands)		Level 1			Level 2		Level 3		Total
Assets
Impaired loans		$	-		7,833		2,714		10,547
Total assets measured at fair value on a nonrecurring basis		$	-		7,833		2,714		10,547

		As of December 31, 2020
(dollars in thousands)		Level 1			Level 2		Level 3		Total
Assets
Impaired loans		$	-		8,144		3,109		11,253
Other real estate owned			-		1,169		-		1,169
Total assets measured at fair value on a nonrecurring basis		$	-		9,313		3,109		12,422

Schedule of Estimated Fair Values of the Company's Financial Instruments

The estimated fair values of the Company’s financial instruments at March 31, 2021 and December 31, 2020 are as follows:

		March 31, 2021
		Carrying			Fair
(dollars in thousands)		Amount			Value		Level 1		Level 2		Level 3
Financial Assets:
Other investments, at cost		$	1,770		1,770		-		-		1,770
Loans1			2,128,001		2,078,530		-		-		2,078,530
Financial Liabilities:
Deposits			2,258,751		2,085,976		-		2,085,976		-
Subordinated debentures			36,025		30,548		-		30,548		-

		December 31, 2020
		Carrying			Fair
(dollars in thousands)		Amount			Value		Level 1		Level 2		Level 3
Financial Assets:
Other investments, at cost		$	3,635		3,635		-		-		3,635
Loans1			2,085,756		2,060,698		-		-		2,060,698
Financial Liabilities:
Deposits			2,142,758		2,008,317		-		2,008,317		-
FHLB and other borrowings			25,000		24,972		-		24,972		-
Subordinated debentures			35,998		30,371		-		30,371		-

¹ Carrying amount is net of the allowance for loan losses and previously presented impaired loans.

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

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-Name Accounting Standards Codification
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-Section 50
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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
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- 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

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-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

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