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Fair Value of Financial Instruments and Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2021
Fair Value Disclosures [Abstract] |
Schedule of Carrying Amount, Estimated Fair Value, and Placement in the Fair Value Hierarchy | The carrying amount, estimated fair values, and placement in the fair value hierarchy of the Company’s financial instruments are as follows:
| Carrying |  | Estimated |  | Level
(dollars in thousands) | Amount |  | Fair Value |  | 1 |  | 2 |  | 3
December 31, 2021 |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |
Cash and short-term investments | $ | 197,232 |  |  | $ | 197,232 |  |  | $ | 197,232 |  |  | $ | — |  |  | $ | — |
Investment securities available for sale | 938,164 |  |  | 938,164 |  |  | 87,551 |  |  | 850,613 |  |  | — |
Other investments | 14,012 |  |  | 14,012 |  |  | 5,574 |  |  | 4,183 |  |  | 4,255 |
Loans held for sale | 38,150 |  |  | 38,150 |  |  | — |  |  | 38,150 |  |  | — |
Loans, net | 1,325,067 |  |  | 1,328,853 |  |  | — |  |  | — |  |  | 1,328,853 |
Liabilities |  |  |  |  |  |  |  |  |
Deposits | 2,374,608 |  |  | 2,375,385 |  |  | — |  |  | 2,375,385 |  |  | — |
Federal Home Loan Bank advances | 51,656 |  |  | 51,162 |  |  | — |  |  | 51,162 |  |  | — |
Other borrowed money | 36,792 |  |  | 36,796 |  |  | — |  |  | 36,796 |  |  | — |
December 31, 2020 |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |
Cash and short-term investments | $ | 183,506 |  |  | $ | 183,506 |  |  | $ | 183,506 |  |  | $ | — |  |  | $ | — |
Investment securities available for sale | 380,814 |  |  | 380,814 |  |  | 245 |  |  | 380,569 |  |  | — |
Other investments | 3,296 |  |  | 3,296 |  |  | — |  |  | 3,296 |  |  | — |
Loans held for sale | 52,386 |  |  | 52,386 |  |  | — |  |  | 52,386 |  |  | — |
Loans, net | 1,047,376 |  |  | 1,063,785 |  |  | — |  |  | — |  |  | 1,063,785 |
Liabilities |  |  |  |  |  |  |  |  |
Deposits | 1,445,027 |  |  | 1,445,984 |  |  | — |  |  | 1,445,984 |  |  | — |
Federal Home Loan Bank advances | 22,500 |  |  | 20,817 |  |  | — |  |  | 20,817 |  |  | — |
PPPLF | 106,789 |  |  | 106,789 |  |  | — |  |  | 106,789 |  |  | — |
Other borrowed money | 37,792 |  |  | 37,792 |  |  | — |  |  | 37,792 |  |  | — |
Schedule of Assets Measured at Fair Value on a Recurring and Nonrecurring Basis | The table below includes only impaired loans with a specific reserve and only other real estate properties with a valuation allowance at December 31, 2021 and 2020. Those impaired loans and other real estate properties are shown net of the related specific reserves and valuation allowances.
|  |  | Fair Value Measurements at Reporting Date Using
(dollars in thousands) | Total Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
December 31, 2021 |  |  |  |  |  |  |
Nonrecurring |  |  |  |  |  |  |
Impaired loans | $ | 1,837 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,837 |
Other real estate | 281 |  |  | — |  |  | — |  |  | 281 |
December 31, 2020 |  |  |  |  |  |  |
Nonrecurring |  |  |  |  |  |  |
Impaired loans | $ | 5,939 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,939 |
Other real estate | 1,006 |  |  | — |  |  | — |  |  | 1,006 |
Schedule of Fair Value Measurements Using Significant Unobservable Inputs | The following tables present quantitative information about the significant unobservable inputs used in the fair value measurements for assets in level 3 of the fair value hierarchy measured on a nonrecurring basis at December 31, 2021 and 2020. These tables are comprised primarily of collateral dependent impaired loans and other real estate owned:
(dollars in thousands) |  | December 31, 2021 |  | Valuation Techniques |  | Unobservable Inputs |  | Range Weighted Avg
Impaired Loans |  | $ | 1,837 |  |  | Appraised Value |  | Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell |  | 25 | % | - | 100%
Other Real Estate |  | $ | 281 |  |  | Appraised Value/ Comparable Sales |  | Discounts to reflect current market conditions and estimated costs to sell |  | 0 | % | - | 20%
|  | December 31, 2020 |  | Valuation Techniques |  | Unobservable Inputs |  | Range Weighted Avg
Impaired Loans |  | $ | 5,939 |  |  | Appraised Value |  | Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell |  | 25 | % | - | 100%
Other Real Estate |  | $ | 1,006 |  |  | Appraised Value/ Comparable Sales |  | Discounts to reflect current market conditions and estimated costs to sell |  | 0 | % | - | 20%
The following table presents quantitative information about recurring level 3 fair value measurements as of December 31, 2021.
|  | December 31, 2021
(dollars in thousands) |  | Fair Value |  | Valuation Techniques |  | Unobservable Inputs |  | Range (Weighted Avg)
Other investments |  | $ | 4,255 |  |  | Discounted Cash Flow |  | Discount Rate or Yield |  | N/A*
* The Company relies on a third-party pricing service to value its securities. The details of the unobservable inputs and other adjustments used by the third-party pricing service were not readily available to the Company.
Schedule of Reconciliation and Statement of Income Classification of Gains and Losses for All Assets Measured at Fair Value on a Recurring Basis | The following table presents a reconciliation and statement of income classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (level 3) for the year ended December 31, 2021 and 2020:
| Other Investment |  | Available for Sale Securities
(dollars in thousands) | 2021 |  |  | 2020
Beginning balance | $ | — |  |  |  | $ | 2,022 |
Additions | 4,107 |  |  |  | — |
Total unrealized/realized gains included in earnings | 148 |  |  |  | — |
Unrealized loss included in other comprehensive income (loss) | — |  |  |  | (21) |
Transfer to Level 2 | — |  |  |  | (2,001) |
Ending balance | $ | 4,255 |  |  |  | $ | — |

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=123874694&loc=SL7498348-110258 Reference 4: 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 http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 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 (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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