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Fair Value Accounting (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

		March 31, 2023
(dollars in thousands)		Level 1				Level 2				Level 3				Total
Assets
Securities available for sale
Corporate bonds		$	-				1,916				-				1,916
US treasuries			-				892				-				892
US government agencies			-				10,984				-				10,984
State and political subdivisions			-				19,649				-				19,649
Asset-backed securities			-				5,819				-				5,819
Mortgage-backed securities			-				54,776				-				54,776
Mortgage loans held for sale			-				6,979				-				6,979
Mortgage loan interest rate lock commitments			-				187				-				187
Total assets measured at fair value on a recurring basis		$	-				101,202				-				101,202
Liabilities
MBS forward sales commitments		$	-				86				-				86
Total liabilities measured at fair value on a recurring basis		$	-				86				-				86

		December 31, 2022
(dollars in thousands)		Level 1				Level 2				Level 3				Total
Assets
Securities available for sale:
Corporate bonds		$	-				1,883				-				1,883
US treasuries			-				871				-				871
US government agencies			-				10,617				-				10,617
State and political subdivisions			-				18,906				-				18,906
Asset-backed securities			-				6,229				-				6,229
Mortgage-backed securities			-				54,841				-				54,841
Mortgage loans held for sale			-				3,917				-				3,917
Mortgage loan interest rate lock commitments			-				49				-				49
MBS forward sales commitments			-				27				-				27
Total assets measured at fair value on a recurring basis		$	-				97,340				-				97,340

Schedule of assets and liabilities measured at fair value on a nonrecurring basis

		As of March 31, 2023
(dollars in thousands)		Level 1				Level 2				Level 3				Total
Assets
Individually evaluated		$	-				1,972				3,695				5,667
Total assets measured at fair value on a nonrecurring basis		$	-				1,972				3,695				5,667

		As of December 31, 2022
(dollars in thousands)		Level 1				Level 2				Level 3				Total
Assets
Individually evaluated		$	-				429				4,071				4,500
Total assets measured at fair value on a nonrecurring basis		$	-				429				4,071				4,500

Schedule of unobservable inputs used in the fair value measurements

		Valuation Technique			Significant Unobservable Inputs				Range of Inputs
Individually evaluated loans		Appraised Value/ Discounted Cash Flows			Discounts to appraisals or cash flows for estimated holding and/or selling costs or age of appraisal				0-25%

Schedule of estimated fair values of the company's financial instruments

		March 31, 2023
(dollars in thousands)		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
Financial Assets:
Other investments, at cost		$	10,097				10,097				-				-				10,097
Loans1			3,368,332				3,176,788				-				-				3,176,788
Financial Liabilities:
Deposits			3,426,774				3,065,819				-				3,065,819				-
Subordinated debentures			36,241				40,369				-				40,369				-

		December 31, 2022
(dollars in thousands)		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
Financial Assets:
Other investments, at cost		$	10,833				10,833				-				-				10,833
Loans1			3,227,455				3,057,891				-				-				3,057,891
Financial Liabilities:
Deposits			3,133,864				2,717,900				-				2,717,900				-
Subordinated debentures			36,214				39,885				-				39,885				-

¹ Carrying amount is net of the allowance for credit losses and individually evaluated loans.

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (bbb)
-SubTopic 10
-Topic 820
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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

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-Section 50
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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

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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
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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