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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2022
Fair Value Measurements |
Summary of fair value of assets measured at fair value on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at March 31, 2022 Using
​ | ​ | ​ | ​ | ​ | Quoted Prices in | ​ | ​ | ​ | ​ | Significant
​ | ​ | ​ | ​ | ​ | Active Markets for | ​ | Significant Other | ​ | Unobservable
​ | ​ | Balance as of | ​ | Identical Assets | ​ | Observable Inputs | ​ | Inputs
(Dollars in thousands) |  | March 31, 2022 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities available-for-sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Treasuries | ​ | $ | 49,511 | ​ | $ | — | ​ | $ | 49,511 | ​ | $ | —
U.S. government and federal agencies | ​ |  | 31,960 | ​ |  | — | ​ |  | 31,960 | ​ |  | —
Corporate bonds | ​ |  | 2,965 | ​ |  | — | ​ |  | 2,965 | ​ |  | —
Collateralized mortgage obligations | ​ |  | 37,357 | ​ |  | — | ​ |  | 37,357 | ​ |  | —
Tax-exempt municipal | ​ |  | 4,851 | ​ |  | — | ​ |  | 4,851 | ​ |  | —
Taxable municipal | ​ |  | 1,649 | ​ |  | — | ​ |  | 1,649 | ​ |  | —
Mortgage-backed | ​ |  | 169,810 | ​ |  | — | ​ |  | 169,810 | ​ |  | —
Equity securities, at fair value | ​ |  | 2,324 | ​ |  | 2,324 | ​ |  | — | ​ |  | —
Total assets at fair value | ​ | $ | 300,427 | ​ | $ | 2,324 | ​ | $ | 298,103 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at December 31, 2021 Using
​ |  | ​ | ​ |  | Quoted Prices in |  | ​ | ​ |  | Significant
​ | ​ | ​ | ​ | ​ | Active Markets for | ​ | Significant Other | ​ | Unobservable
​ | ​ | Balance as of | ​ | Identical Assets | ​ | Observable Inputs | ​ | Inputs
(Dollars in thousands) | ​ | December 31, 2021 | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3)
Assets: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Securities available-for-sale: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Treasuries | ​ | $ | 30,543 | ​ | $ | — | ​ | $ | 30,543 | ​ | $ | —
U.S. government and federal agencies | ​ | ​ | 34,537 | ​ |  | — | ​ |  | 34,537 | ​ |  | —
Corporate bonds | ​ |  | 1,031 | ​ |  | — | ​ |  | 1,031 | ​ |  | —
Collateralized mortgage obligations | ​ |  | 39,049 | ​ |  | — | ​ |  | 39,049 | ​ |  | —
Tax-exempt municipal | ​ |  | 5,262 | ​ |  | — | ​ |  | 5,262 | ​ |  | —
Taxable municipal | ​ |  | 1,685 | ​ |  | — | ​ |  | 1,685 | ​ |  | —
Mortgage-backed | ​ |  | 127,193 | ​ |  | — | ​ |  | 127,193 | ​ |  | —
Equity securities, at fair value | ​ |  | 1,869 | ​ |  | 1,869 | ​ |  | — | ​ |  | —
Total assets at fair value | ​ | $ | 241,169 | ​ | $ | 1,869 | ​ | $ | 239,300 | ​ | $ | —
Summary of carrying value and estimated fair value of financial instruments | The following table presents the carrying value and estimated fair value, including the level within the fair value hierarchy, of the Company’s financial instruments as of March 31, 2022 and December 31, 2021. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at March 31, 2022 Using
​ |  | ​ | ​ |  | Quoted Prices in |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Active Markets | ​ | ​ | ​ | ​ | Significant | ​ | ​ | ​
​ | ​ | Carrying Value | ​ | for Identical | ​ | Significant Other | ​ | Unobservable | ​ | Fair Value as of
​ | ​ | as of March 31, | ​ | Assets | ​ | Observable Inputs | ​ | Inputs | ​ | March 31,
(Dollars in thousands) | ​ | 2022 | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | 2022
Assets: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 182,361 | ​ | $ | 182,361 | ​ | $ | — | ​ | $ | — | ​ | $ | 182,361
Securities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Available-for-sale | ​ |  | 298,103 | ​ |  | — | ​ |  | 298,103 | ​ |  | — | ​ |  | 298,103
Held-to-maturity | ​ |  | 104,177 | ​ |  | — | ​ |  | 95,051 | ​ |  | — | ​ |  | 95,051
Equity securities, at fair value | ​ |  | 2,324 | ​ |  | 2,324 | ​ |  | — | ​ |  | — | ​ |  | 2,324
Loans, net | ​ |  | 1,611,229 | ​ |  | — | ​ |  | — | ​ |  | 1,591,517 | ​ |  | 1,591,517
Bank owned life insurance | ​ |  | 21,093 | ​ |  | — | ​ |  | 21,093 | ​ |  | — | ​ |  | 21,093
Accrued interest receivable | ​ |  | 4,354 | ​ |  | — | ​ |  | 4,354 | ​ |  | — | ​ |  | 4,354
Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 1,983,099 | ​ | $ | — | ​ | $ | 1,981,407 | ​ | $ | — | ​ | $ | 1,981,407
FHLB advances | ​ |  | 18,000 | ​ |  | — | ​ |  | 17,979 | ​ |  | — | ​ |  | 17,979
Subordinated debt | ​ |  | 24,845 | ​ |  | — | ​ |  | — | ​ |  | 25,141 | ​ |  | 25,141
Accrued interest payable | ​ |  | 477 | ​ |  | — | ​ |  | 477 | ​ |  | — | ​ |  | 477
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at December 31, 2021 Using
​ |  | ​ | ​ |  | Quoted Prices in |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Active Markets | ​ | ​ | ​ | ​ | Significant | ​ | ​ | ​
​ | ​ | Carrying Value | ​ | for Identical | ​ | Significant Other | ​ | Unobservable | ​ | Fair Value as of
​ | ​ | as of December | ​ | Assets | ​ | Observable Inputs | ​ | Inputs | ​ | December 31,
(Dollars in thousands) | ​ | 31, 2021 | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | 2021
Assets: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 105,799 | ​ | $ | 105,799 | ​ | $ | — | ​ | $ | — | ​ | $ | 105,799
Securities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Available-for-sale | ​ |  | 239,300 | ​ |  | — | ​ |  | 239,300 | ​ |  | — | ​ |  | 239,300
Held-to-maturity | ​ | ​ | 105,509 | ​ | ​ | — | ​ |  | 103,258 | ​ |  | — | ​ |  | 103,258
Equity securities, at fair value | ​ |  | 1,869 | ​ |  | 1,869 | ​ |  | — | ​ |  | — | ​ |  | 1,869
Loans, net | ​ |  | 1,646,437 | ​ |  | — | ​ |  | — | ​ |  | 1,659,396 | ​ |  | 1,659,396
Bank owned life insurance | ​ |  | 20,998 | ​ |  | — | ​ |  | 20,998 | ​ |  | — | ​ |  | 20,998
Accrued interest receivable | ​ |  | 4,943 | ​ |  | — | ​ |  | 4,943 | ​ |  | — | ​ |  | 4,943
Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 1,881,553 | ​ | $ | — | ​ | $ | 1,882,132 | ​ | $ | — | ​ | $ | 1,882,132
FHLB advances | ​ |  | 18,000 | ​ |  | — | ​ |  | 17,837 | ​ |  | — | ​ |  | 17,837
Subordinated debt | ​ |  | 24,728 | ​ |  | — | ​ |  | — | ​ |  | 25,325 | ​ |  | 25,325
Accrued interest payable | ​ |  | 843 | ​ |  | — | ​ |  | 843 | ​ |  | — | ​ |  | 843

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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 http://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 http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition 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 -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://www.xbrl.org/2003/role/disclosureRef -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 + Details
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