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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2020
Fair Value of Financial Instruments [Abstract] |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques |
(in thousands) |  | Fair Value at ‎June 30, ‎2020 |  | Valuation ‎Technique |  | Significant ‎Unobservable ‎Inputs |  | Significant ‎Unobservable ‎Input Value
Recurring: |  |  |  |  |  |  |  |  |
Investment Securities – available for sale |  | $ | 11,952 |  | Discounted ‎Cash Flow |  | Discount Rate |  | LIBOR+ 6.00%
Non-recurring: |  |  |  |  |  |  |  |  |
Impaired Loans |  | $ | 6,994 |  | Market Comparable ‎Properties |  | Marketability ‎Discount |  | 10.0% - 15.0% (1) ‎(weighted avg 13.1%)
Other Real Estate Owned |  | $ | 476 |  | Market Comparable ‎Properties |  | Marketability ‎Discount |  | 15.0%
(in thousands) |  | Fair Value at ‎December 31, ‎2019 |  | Valuation ‎Technique |  | Significant ‎Unobservable ‎Inputs |  | Significant ‎Unobservable ‎Input Value
Recurring: |  |  |  |  |  |  |  |  |
Investment Securities – available for sale |  | $ | 14,354 |  | Discounted ‎Cash Flow |  | Discount ‎Rate |  | LIBOR+ 4.75%
Non-recurring: |  |  |  |  |  |  |  |  |
Impaired Loans |  | $ | 6,995 |  | Market Comparable ‎Properties |  | Marketability ‎Discount |  | 10.0% - 15.0% (1) ‎(weighted avg 12.9%)
Other Real Estate Owned |  | $ | 2,571 |  | Market Comparable ‎Properties |  | Marketability ‎Discount |  | 10.0% - 15.0% (1) ‎(weighted avg 12.5%)
NOTE: (1)Range would include discounts taken since appraisal and estimated values
Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis |
|  |  |  |  | Fair Value Measurements ‎at June 30, 2020 Using
|  | Assets/(liabilities) ‎Measured at ‎Fair Value |  | Quoted ‎Prices in ‎Active Markets ‎for Identical ‎Assets |  | Significant ‎Other ‎Observable ‎Inputs |  | Significant ‎Unobservable ‎Inputs
(in thousands) |  | 06/30/20 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Recurring: |  |  |  |  |  |  |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  | $ | 46,945 |  |  |  |  | $ | 46,945 |  |  |
Residential mortgage-backed agencies |  | $ | 18,776 |  |  |  |  | $ | 18,776 |  |  |
Commercial mortgage-backed agencies |  | $ | 29,143 |  |  |  |  | $ | 29,143 |  |  |
Collateralized mortgage obligations |  | $ | 25,818 |  |  |  |  | $ | 25,818 |  |  |
Obligations of states and political subdivisions |  | $ | 13,556 |  |  |  |  | $ | 13,556 |  |  |
Collateralized debt obligations |  | $ | 11,952 |  |  |  |  |  |  |  | $ | 11,952
Loans held for sale |  | $ | 6,283 |  |  |  |  | $ | 6,283 |  |  |
Financial derivatives |  | $ | (1,558) |  |  |  |  | $ | (1,558) |  |  |
Non-recurring: |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 6,994 |  |  |  |  |  |  |  | $ | 6,994
Other real estate owned |  | $ | 476 |  |  |  |  |  |  |  | $ | 476
|  |  |  |  | Fair Value Measurements ‎at December 31, 2019 Using
|  | Assets/(liabilities) ‎Measured at ‎Fair Value |  | Quoted ‎Prices in ‎Active Markets ‎for Identical ‎Assets |  | Significant ‎Other ‎Observable ‎Inputs |  | Significant ‎Unobservable ‎Inputs
(in thousands) |  | 12/31/19 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Recurring: |  |  |  |  |  |  |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  | $ | 39,894 |  |  |  |  | $ | 39,894 |  |  |
Residential mortgage-backed agencies |  | $ | 4,900 |  |  |  |  | $ | 4,900 |  |  |
Commercial mortgage-backed agencies |  | $ | 27,764 |  |  |  |  | $ | 27,764 |  |  |
Collateralized mortgage obligations |  | $ | 29,923 |  |  |  |  | $ | 29,923 |  |  |
Obligations of states and political subdivisions |  | $ | 14,470 |  |  |  |  | $ | 14,470 |  |  |
Collateralized debt obligations |  | $ | 14,354 |  |  |  |  |  |  |  | $ | 14,354
Loans held for sale |  | $ | 1,749 |  |  |  |  | $ | 1,749 |  |  |
Financial derivatives |  | $ | (133) |  |  |  |  | $ | (133) |  |  |
Non-recurring: |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 6,995 |  |  |  |  |  |  |  | $ | 6,995
Other real estate owned |  | $ | 2,571 |  |  |  |  |  |  |  | $ | 2,571
Reconciliation of Fair Valued Assets Measured on a Recurring Basis |
|  | Fair Value Measurements ‎Using Significant Unobservable Inputs ‎(Level 3)
(in thousands) |  | Investment Securities ‎Available for Sale
Beginning balance January 1, 2020 |  | $ | 14,354
Total losses realized/unrealized: |  |  |
Included in other comprehensive loss |  |  | (2,402)
Ending balance June 30, 2020 |  | $ | 11,952
|  | Fair Value Measurements ‎Using Significant Unobservable Inputs ‎(Level 3)
(in thousands) |  | Investment Securities ‎Available for Sale
Beginning balance January 1, 2019 |  | $ | 15,277
Total losses realized/unrealized: |  |  |
Included in other comprehensive income |  |  | (405)
Ending balance June 30, 2019 |  | $ | 14,872
|  | Fair Value Measurements ‎Using Significant Unobservable Inputs ‎(Level 3)
(in thousands) |  | Investment Securities ‎Available for Sale
Beginning balance April 1, 2020 |  | $ | 12,380
Total losses realized/unrealized: |  |  |
Included in other comprehensive income |  |  | (428)
Ending balance June 30, 2020 |  | $ | 11,952
|  | Fair Value Measurements ‎Using Significant Unobservable Inputs ‎(Level 3)
(in thousands) |  | Investment Securities ‎Available for Sale
Beginning balance April 1, 2019 |  | $ | 15,152
Total losses realized/unrealized: |  |  |
Included in other comprehensive income |  |  | (280)
Ending balance June 30, 2019 |  | $ | 14,872
Fair Value by Balance Sheet Grouping |
|  | June 30, 2020 |  | Fair Value Measurements
|  | Carrying |  | Fair |  | Quoted ‎Prices in ‎Active Markets ‎for Identical ‎Assets |  | Significant ‎Other ‎Observable ‎Inputs |  | Significant ‎Unobservable ‎Inputs
(in thousands) |  | Amount |  | Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 114,513 |  | $ | 114,513 |  | $ | 114,513 |  |  |  |  |  |
Interest bearing deposits in banks |  |  | 2,577 |  |  | 2,577 |  |  | 2,577 |  |  |  |  |  |
Investment securities - AFS |  |  | 146,190 |  |  | 146,190 |  |  |  |  | $ | 134,238 |  | $ | 11,952
Investment securities - HTM |  |  | 73,975 |  |  | 80,702 |  |  |  |  |  | 55,385 |  |  | 25,317
Restricted bank stock |  |  | 4,468 |  |  | 4,468 |  |  |  |  |  | 4,468 |  |  |
Loans, net |  |  | 1,166,220 |  |  | 1,176,909 |  |  |  |  |  |  |  |  | 1,176,909
Loans held for sale |  |  | 6,283 |  |  |  |  |  |  |  |  | 6,283 |  |  |
Accrued interest receivable |  |  | 5,789 |  |  | 5,789 |  |  |  |  |  | 5,789 |  |  |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits - non-maturity |  |  | 1,116,739 |  |  | 1,116,739 |  |  |  |  |  | 1,116,739 |  |  |
Deposits - time deposits |  |  | 234,829 |  |  | 238,577 |  |  |  |  |  | 238,577 |  |  |
Financial derivatives |  |  | 1,558 |  |  | 1,558 |  |  |  |  |  | 1,558 |  |  |
Short-term borrowed funds |  |  | 36,001 |  |  | 36,001 |  |  |  |  |  | 36,001 |  |  |
Long-term borrowed funds |  |  | 100,929 |  |  | 103,304 |  |  |  |  |  | 103,304 |  |  |
Accrued interest payable |  |  | 470 |  |  | 470 |  |  |  |  |  | 470 |  |  |
|  | December 31, 2019 |  | Fair Value Measurements
|  | Carrying |  | Fair |  | Quoted ‎Prices in ‎Active Markets ‎for Identical ‎Assets |  | Significant ‎Other ‎Observable ‎Inputs |  | Significant ‎Unobservable ‎Inputs
(in thousands) |  | Amount |  | Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 48,512 |  | $ | 48,512 |  | $ | 48,512 |  |  |  |  |  |
Interest bearing deposits in banks |  |  | 1,467 |  |  | 1,467 |  |  | 1,467 |  |  |  |  |  |
Investment securities - AFS |  |  | 131,305 |  |  | 131,305 |  |  |  |  | $ | 116,951 |  | $ | 14,354
Investment securities - HTM |  |  | 93,979 |  |  | 100,656 |  |  |  |  |  | 79,084 |  |  | 21,572
Restricted bank stock |  |  | 4,415 |  |  | 4,415 |  |  |  |  |  | 4,415 |  |  |
Loans, net |  |  | 1,038,894 |  |  | 1,037,032 |  |  |  |  |  |  |  |  | 1,037,032
Loans held for sale |  |  | 1,749 |  |  |  |  |  |  |  |  | 1,749 |  |  |
Accrued interest receivable |  |  | 4,116 |  |  | 4,116 |  |  |  |  |  | 4,116 |  |  |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits - non-maturity |  |  | 888,141 |  |  | 888,141 |  |  |  |  |  | 888,141 |  |  |
Deposits - time deposits |  |  | 253,890 |  |  | 256,227 |  |  |  |  |  | 256,227 |  |  |
Financial derivative |  |  | 133 |  |  | 133 |  |  |  |  |  | 133 |  |  |
Short-term borrowed funds |  |  | 48,728 |  |  | 48,728 |  |  |  |  |  | 48,728 |  |  |
Long-term borrowed funds |  |  | 100,929 |  |  | 100,848 |  |  |  |  |  | 100,848 |  |  |
Accrued interest payable |  |  | 499 |  |  | 499 |  |  |  |  |  | 499 |  |  |

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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=117815213&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=117815213&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=117815213&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=117815213&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=117815213&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=117815213&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=117815213&loc=d3e19207-110258 + Details
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