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Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 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)
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

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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