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Fair Value of Financial Instruments | 9 Months Ended
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Sep. 30, 2022
Fair Value Disclosures [Abstract] |
Fair Value of Financial Instruments | Note 9 – Fair Value 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)
September 30, 2022 |  |  |  |  |  |  |  |  |  |
Financial Assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 79,946 |  |  | $ | 79,946 |  |  | $ | 79,946 |  |  | $ | — |  |  | $ | — |
Certificates of deposit with banks |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Securities available-for-sale |  | 366,742 |  |  | 366,742 |  |  | — |  |  | 331,613 |  |  | 35,129 |
Equity securities |  | 34,101 |  |  | 34,101 |  |  | 4,466 |  |  | — |  |  | 29,635 |
Loans held-for-sale |  | 19,977 |  |  | 21,201 |  |  | — |  |  | 21,201 |  |  | — |
Loans receivable, net |  | 2,444,880 |  |  | 2,402,514 |  |  | — |  |  | — |  |  | 2,402,514 |
Servicing rights |  | 1,401 |  |  | 1,450 |  |  | — |  |  | — |  |  | 1,450 |
Interest rate swap |  | 8,908 |  |  | 8,908 |  |  | — |  |  | 8,908 |  |  | — |
Accrued interest receivable |  | 10,197 |  |  | 10,197 |  |  | — |  |  | 2,389 |  |  | 7,808 |
Bank-owned life insurance |  | 42,992 |  |  | 42,992 |  |  | — |  |  | 42,992 |  |  | — |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 2,696,958 |  |  | $ | 2,377,908 |  |  | $ | — |  |  | $ | 2,377,908 |  |  | $ | — |
Repurchase agreements |  | 9,910 |  |  | 9,910 |  |  | — |  |  | 9,910 |  |  | — |
FHLB and other borrowings |  | 73,328 |  |  | 72,976 |  |  | — |  |  | 72,976 |  |  | — |
Interest rate swap |  | 8,908 |  |  | 8,908 |  |  | — |  |  | 8,908 |  |  | — |
Fair value hedge |  | 738 |  |  | 738 |  |  | — |  |  | 738 |  |  | — |
Accrued interest payable |  | 1,235 |  |  | 1,235 |  |  | — |  |  | 1,235 |  |  | — |
Subordinated debt |  | 73,222 |  |  | 63,576 |  |  | — |  |  | 63,576 |  |  | — |
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 |  |  | — |

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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