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Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Carrying Values and Estimated Fair Values of Financial Instruments

The following table presents the carrying values and estimated fair values of our financial instruments as of the periods shown:

(Dollars in thousands)						Carrying Value						Estimated Fair Value						Quoted Prices in Active Markets for Identical Assets (Level I)						Significant Other Observable Inputs (Level II)						Significant Unobservable Inputs (Level III)
June 30, 2022
Financial Assets:
Cash and cash equivalents						$	161,761					$	161,761					$	161,761					$	—					$	—
Certificates of deposit with banks						496						496						—						496						—
Securities available-for-sale						376,737						376,737						—						339,702						37,035
Equity securities						34,250						34,250						264						—						33,986
Loans held-for-sale						11,856						11,856						—						11,856						—
Loans receivable, net						2,192,380						2,177,104						—						—						2,177,104
Servicing rights						1,040						1,063						—						—						1,063
Interest rate swap						4,398						4,398						—						4,398						—
Fair value hedge						204						204						—						204						—
Accrued interest receivable						9,202						9,202						—						2,249						6,953
Bank-owned life insurance						42,744						42,744						—						42,744						—
Financial Liabilities:
Deposits						$	2,614,970					$	2,440,813					$	—					$	2,440,813					$	—
Repurchase agreements						11,152						11,152						—						11,152						—
Interest rate swap						4,398						4,398						—						4,398						—
Accrued interest payable						632						632						—						632						—
Subordinated debt						73,158						73,531						—						73,531						—
December 31, 2021
Financial assets:
Cash and cash equivalents						$	307,437					$	307,437					$	307,437					$	—					$	—
Certificates of deposits with banks						2,719						2,738						—						2,738						—
Securities available-for-sale						421,466						421,466						—						379,703						41,763
Equity securities						32,402						32,402						247						—						32,155
Loans held-for-sale						—						—						—						—						—
Loans receivable, net						1,851,572						1,865,013						—						—						1,865,013
Servicing rights						2,812						2,831						—						—						2,831
Interest rate swap						6,702						6,702						—						6,702						—
Fair value hedge						1,552						1,552						—						1,552
Accrued interest receivable						7,860						7,860						—						2,402						5,458
Bank-owned life insurance						42,257						42,257						—						42,257						—
Financial liabilities:
Deposits						$	2,377,605					$	2,338,868					$	—					$	2,338,868					$	—
Repurchase agreements						11,385						11,385						—						11,385						—
Interest rate swap						6,702						6,702						—						6,702						—
Fair value hedge						807						807						—						807						—
Accrued interest payable						690						690						—						690						—
Subordinated debt						73,030						74,774						—						74,774						—

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 https://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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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X

- References

No definition available.

+ Details

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