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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2022
Fair Value Measurements |
Summary of fair value of assets measured at fair value on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at September 30, 2022 Using
​ | ​ | ​ | ​ | ​ | Quoted Prices in | ​ | ​ | ​ | ​ | Significant
​ | ​ | ​ | ​ | ​ | Active Markets for | ​ | Significant Other | ​ | Unobservable
​ | ​ | Balance as of | ​ | Identical Assets | ​ | Observable Inputs | ​ | Inputs
(Dollars in thousands) |  | September 30, 2022 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities available-for-sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Treasuries | ​ | $ | 58,819 | ​ | $ | — | ​ | $ | 58,819 | ​ | $ | —
U.S. government and federal agencies | ​ |  | 34,456 | ​ |  | — | ​ |  | 34,456 | ​ |  | —
Corporate bonds | ​ |  | 2,692 | ​ |  | — | ​ |  | 2,692 | ​ |  | —
Collateralized mortgage obligations | ​ |  | 40,211 | ​ |  | — | ​ |  | 40,211 | ​ |  | —
Tax-exempt municipal | ​ |  | 4,373 | ​ |  | — | ​ |  | 4,373 | ​ |  | —
Taxable municipal | ​ |  | 578 | ​ |  | — | ​ |  | 578 | ​ |  | —
Mortgage-backed | ​ |  | 225,417 | ​ |  | — | ​ |  | 225,417 | ​ |  | —
Equity securities, at fair value | ​ |  | 1,913 | ​ |  | 1,913 | ​ |  | — | ​ |  | —
Total assets at fair value | ​ | $ | 368,459 | ​ | $ | 1,913 | ​ | $ | 366,546 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | 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 tables present the carrying value and estimated fair value, including the level within the fair value hierarchy, of the Company’s financial instruments as of September 30, 2022 and December 31, 2021. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at September 30, 2022 Using
​ |  | ​ | ​ |  | Quoted Prices in |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Active Markets | ​ | ​ | ​ | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | for Identical | ​ | Significant Other | ​ | Unobservable | ​ | ​
​ | ​ | Carrying Value | ​ | Assets | ​ | Observable Inputs | ​ | Inputs | ​ | Fair Value as of
(Dollars in thousands) | ​ | as of September 30, 2022 | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | September 30, 2022
Assets: | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 74,756 | ​ | $ | 74,756 | ​ | $ | — | ​ | $ | — | ​ | $ | 74,756
Securities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Available-for-sale | ​ |  | 366,546 | ​ |  | — | ​ |  | 366,546 | ​ |  | — | ​ |  | 366,546
Held-to-maturity | ​ |  | 100,598 | ​ |  | — | ​ |  | 81,765 | ​ |  | — | ​ |  | 81,765
Equity securities, at fair value | ​ |  | 1,913 | ​ |  | 1,913 | ​ |  | — | ​ |  | — | ​ |  | 1,913
Restricted securities, at cost | ​ | ​ | 4,421 | ​ | ​ | — | ​ | ​ | 4,421 | ​ | ​ | — | ​ | ​ | 4,421
Loans, net of unearned income | ​ |  | 1,705,082 | ​ |  | — | ​ |  | — | ​ |  | 1,631,043 | ​ |  | 1,631,043
Bank owned life insurance | ​ |  | 21,071 | ​ |  | — | ​ |  | 21,071 | ​ |  | — | ​ |  | 21,071
Accrued interest receivable | ​ |  | 4,744 | ​ |  | — | ​ |  | 4,744 | ​ |  | — | ​ |  | 4,744
Liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 2,063,341 | ​ | $ | — | ​ | $ | 2,057,563 | ​ | $ | — | ​ | $ | 2,057,563
Subordinated debt | ​ |  | 24,603 | ​ |  | — | ​ |  | — | ​ |  | 22,517 | ​ |  | 22,517
Accrued interest payable | ​ |  | 643 | ​ |  | — | ​ |  | 643 | ​ |  | — | ​ |  | 643
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Fair Value Measurements at December 31, 2021 Using
​ |  | ​ | ​ |  | Quoted Prices in |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Active Markets | ​ | ​ | ​ | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | for Identical | ​ | Significant Other | ​ | Unobservable | ​ | ​ | ​
​ | ​ | Carrying Value | ​ | Assets | ​ | Observable Inputs | ​ | Inputs | ​ | Fair Value as of
(Dollars in thousands) | ​ | as of December 31, 2021 | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | December 31, 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
Restricted securities, at cost | ​ | ​ | 4,951 | ​ | ​ | — | ​ | ​ | 4,951 | ​ | ​ | — | ​ | ​ | 4,951
Loans, net of unearned income | ​ |  | 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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