XML 45 R36.htm IDEA: XBRL DOCUMENT v3.22.2.2

Fair Value (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Quantitative information about assets measured utilizing Level 3 fair value measurement

The following tables list the quantitative fair value information about impaired loans as of:

			September 30, 2022
Valuation Technique			Fair Value			Unobservable Input						Actual Range						Weighted Average
						Discount applied to collateral:
						Real Estate						20% - 30%						23%
						Equipment						20% - 35%						30%
Discounted value			$14,724			Cash crop inventory						40%						40%
						Livestock						30%						30%
						Accounts receivable						50%						50%
						Furniture, fixtures & equipment						45%						45%

			December 31, 2021
Valuation Technique			Fair Value			Unobservable Input						Actual Range						Weighted Average
						Discount applied to collateral:
						Real Estate						20% - 30%						23%
						Equipment						20% - 35%						28%
Discounted value			$18,812			Cash crop inventory						40%						40%
						Livestock						30%						30%
						Accounts receivable						50%						50%
						Liquor license						75%						75%

Carrying amount and estimated fair value of financial instruments not recorded at fair value

The carrying amount and estimated fair value of financial instruments not recorded at fair value in their entirety on a recurring basis were as follows as of:

			September 30, 2022
			Carrying Value						Estimated Fair Value						Level 1						Level 2						Level 3
ASSETS
Cash and cash equivalents			$	98,912					$	98,912					$	98,912					$	—					$	—
Mortgage loans AFS			934						942						—						942						—
Gross loans			1,236,151						1,194,804						—						—						1,194,804
Less allowance for loan and lease losses			9,677						9,677						—						—						9,677
Net loans			1,226,474						1,185,127						—						—						1,185,127
Accrued interest receivable			6,406						6,406						6,406						—						—
Equity securities without readily determinable fair values (1)			15,496						N/A						—						—						—
OMSR			2,601						3,179						—						3,179						—
LIABILITIES
Deposits without stated maturities			1,529,793						1,529,793						1,529,793						—						—
Deposits with stated maturities			261,240						248,892						—						248,892						—
Federal funds purchased and repurchase agreements			52,479						52,349						—						52,349						—
Subordinated debt, net of unamortized issuance costs			29,225						26,548						—						26,548						—
Accrued interest payable			158						158						158						—						—

			December 31, 2021
			Carrying Value						Estimated Fair Value						Level 1						Level 2						Level 3
ASSETS
Cash and cash equivalents			$	105,330					$	105,330					$	105,330					$	—					$	—
Mortgage loans AFS			1,735						1,797						—						1,797						—
Gross loans			1,301,037						1,296,841						—						—						1,296,841
Less allowance for loan and lease losses			9,103						9,103						—						—						9,103
Net loans			1,291,934						1,287,738						—						—						1,287,738
Accrued interest receivable			5,804						5,804						5,804						—						—
Equity securities without readily determinable fair values (1)			17,383						N/A						—						—						—
OMSR			2,124						2,753						—						2,753						—
LIABILITIES
Deposits without stated maturities			1,409,577						1,409,577						1,409,577						—						—
Deposits with stated maturities			300,762						301,216						—						301,216						—
Federal funds purchased and repurchase agreements			50,162						50,153						—						50,153						—
FHLB advances			20,000						20,120						—						20,120						—
Subordinated debt, net of unamortized issuance costs			29,158						27,435						—						27,435						—
Accrued interest payable			251						251						251						—						—

(1)Due to the characteristics of equity securities without readily determinable fair values, they are not disclosed under a specific fair value hierarchy. When an impairment or write-down related to these securities is recorded, such amount would be classified as a nonrecurring Level 3 fair value adjustment.

Assets and liabilities measured at fair value

The table below presents the recorded amount of assets and liabilities measured at fair value on:

			September 30, 2022																								December 31, 2021
			Total						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3
Recurring items
AFS securities
U.S. Treasury			$	206,791					$	—					$	206,791					$	—					$	209,703					$	—					$	209,703					$	—
States and political subdivisions			114,000						—						114,000						—						121,205						—						121,205						—
Auction rate money market preferred			2,479						—						2,479						—						3,242						—						3,242						—
Mortgage-backed securities			41,042						—						41,042						—						56,148						—						56,148						—
Collateralized mortgage obligations			209,720						—						209,720						—						92,301						—						92,301						—
Corporate			7,201						—						7,201						—						8,002						—						8,002						—
Total AFS securities			581,233						—						581,233						—						490,601						—						490,601						—
Nonrecurring items
Impaired loans (net of the ALLL)			14,724						—						—						14,724						18,812						—						—						18,812
Foreclosed assets			240						—						—						240						211						—						—						211
Total			$	596,197					$	—					$	581,233					$	14,964					$	509,624					$	—					$	490,601					$	19,023
Percent of assets and liabilities measured at fair value									—		%				97.49		%				2.51		%										—		%				96.27		%				3.73		%

X

- 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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ 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 (bbb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration