XML 40 R30.htm IDEA: XBRL DOCUMENT
v3.21.2

Fair Value of Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Fair Value of Financial Instruments [Abstract] |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Fair Value at September 30, 2021 |  | Valuation Technique |  | Significant Unobservable Inputs |  | Significant Unobservable Input Value
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment Securities – available for sale | ​ | $ | 17,092 | ​ | Discounted Cash Flow | ​ | Discount Rate | ​ | 4.50%
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired Loans | ​ | $ | 2,002 | ​ | Market Comparable Properties | ​ | Marketability Discount | ​ | 10.0% - 15.0% (1) (weighted avg 10.5%)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Real Estate Owned | ​ | $ | 349 | ​ | Market Comparable Properties | ​ | Marketability Discount | ​ | 15.0%
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Fair Value at December 31, 2020 |  | Valuation Technique |  | Significant Unobservable Inputs |  | Significant Unobservable Input Value
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment Securities – available for sale | ​ | $ | 13,260 | ​ | Discounted Cash Flow | ​ | Discount Rate | ​ | 5.50%
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired Loans | ​ | $ | 1,465 | ​ | Market Comparable Properties | ​ | Marketability Discount | ​ | 10.0% - 15.0% (1) (weighted avg 12.5%)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Real Estate Owned | ​ | $ | 913 | ​ | Market Comparable Properties | ​ | Marketability Discount | ​ | 15.0%
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
| (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 September 30, 2021 Using
​ | ​ | ​ | ​ | Quoted | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Prices in | ​ | Significant | ​ | ​ | ​
​ | ​ | Assets/(liabilities) | ​ | Active Markets | ​ | Other | ​ | Significant
​ | ​ | Measured at | ​ | for Identical | ​ | Observable | ​ | Unobservable
​ | ​ | Fair Value | ​ | Assets | ​ | Inputs | ​ | Inputs
(in thousands) |  | 09/30/21 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ | $ | 53,734 | ​ | ​ | ​ | ​ | $ | 53,734 | ​ | ​ | ​
Residential mortgage-backed agencies | ​ | $ | 30,354 | ​ | ​ | ​ | ​ | $ | 30,354 | ​ | ​ | ​
Commercial mortgage-backed agencies | ​ | $ | 55,509 | ​ | ​ | ​ | ​ | $ | 55,509 | ​ | ​ | ​
Collateralized mortgage obligations | ​ | $ | 69,079 | ​ | ​ | ​ | ​ | $ | 69,079 | ​ | ​ | ​
Obligations of states and political subdivisions | ​ | $ | 9,796 | ​ | ​ | ​ | ​ | $ | 9,796 | ​ | ​ | ​
Collateralized debt obligations | ​ | $ | 17,092 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 17,092
Financial derivatives | ​ | $ | (727) | ​ | ​ | ​ | ​ | $ | (727) | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans | ​ | $ | 2,002 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 2,002
Other real estate owned | ​ | $ | 349 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 349
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements at December 31, 2020 Using
​ | ​ | ​ | ​ | Quoted | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Prices in | ​ | Significant | ​ | ​
​ | ​ | Assets/(liabilities) | ​ | Active Markets | ​ | Other | ​ | Significant
​ | ​ | Measured at | ​ | for Identical | ​ | Observable | ​ | Unobservable
​ | ​ | Fair Value | ​ | Assets | ​ | Inputs | ​ | Inputs
(in thousands) |  | 12/31/20 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ | $ | 76,433 | ​ | ​ | ​ | ​ | $ | 76,433 | ​ | ​ | ​
Residential mortgage-backed agencies | ​ | $ | 22,899 | ​ | ​ | ​ | ​ | $ | 22,899 | ​ | ​ | ​
Commercial mortgage-backed agencies | ​ | $ | 33,042 | ​ | ​ | ​ | ​ | $ | 33,042 | ​ | ​ | ​
Collateralized mortgage obligations | ​ | $ | 70,637 | ​ | ​ | ​ | ​ | $ | 70,637 | ​ | ​ | ​
Obligations of states and political subdivisions | ​ | $ | 10,614 | ​ | ​ | ​ | ​ | $ | 10,614 | ​ | ​ | ​
Collateralized debt obligations | ​ | $ | 13,260 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 13,260
Financial derivatives | ​ | $ | (1,320) | ​ | ​ | ​ | ​ | $ | (1,320) | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans | ​ | $ | 1,465 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 1,465
Other real estate owned | ​ | $ | 913 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 913
Reconciliation of Fair Valued Assets Measured on a Recurring Basis | ​
​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements
​ | ​ | Using Significant Unobservable Inputs
​ | ​ | (Level 3)
​ | ​ | Investment Securities
(in thousands) |  | Available for Sale
Beginning balance January 1, 2021 | ​ | $ | 13,260
Total losses realized/unrealized: | ​ | ​ | ​
Included in other comprehensive income | ​ | ​ | 3,832
Ending balance September 30, 2021 | ​ | $ | 17,092
​
​ | ​ | ​ | ​
​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
(in thousands) | ​ | Investment Securities Available for Sale
Beginning balance July 1, 2021 | ​ | $ | 16,230
Total gains realized/unrealized: | ​ | ​ | ​
Included in other comprehensive income | ​ | ​ | 862
Ending balance September 30, 2021 | ​ | $ | 17,092
​ ​
​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements
​ | ​ | Using Significant Unobservable Inputs
​ | ​ | (Level 3)
​ | ​ | Investment Securities
(in thousands) |  | Available for Sale
Beginning balance January 1, 2020 | ​ | $ | 14,354
Total losses realized/unrealized: | ​ | ​ | ​
Included in other comprehensive loss | ​ | ​ | (1,594)
Ending balance September 30, 2020 | ​ | $ | 12,760
​
​ | ​ | ​ | ​
​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
(in thousands) | ​ | Investment Securities Available for Sale
Beginning balance July 1, 2020 | ​ | $ | 11,952
Total losses realized/unrealized: | ​ | ​ | ​
Included in other comprehensive income | ​ | ​ | 808
Ending balance September 30, 2020 | ​ | $ | 12,760
Fair Value by Balance Sheet Grouping | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2021 | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | ​ | Quoted | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Prices in | ​ | Significant | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Active Markets | ​ | Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | ​ | for Identical | ​ | Observable | ​ | Unobservable
​ | ​ | Carrying | ​ | Fair | ​ | Assets | ​ | Inputs | ​ | Inputs
(in thousands) |  | Amount |  | Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Financial Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and due from banks | ​ | $ | 129,062 | ​ | $ | 129,062 | ​ | $ | 129,062 | ​ | ​ | ​ | ​ | ​ | ​
Interest bearing deposits in banks | ​ | ​ | 5,876 | ​ | ​ | 5,876 | ​ | ​ | 5,876 | ​ | ​ | ​ | ​ | ​ | ​
Investment securities - AFS | ​ | ​ | 235,564 | ​ | ​ | 235,564 | ​ | ​ | ​ | ​ | $ | 218,472 | ​ | $ | 17,092
Investment securities - HTM | ​ | ​ | 61,979 | ​ | ​ | 71,707 | ​ | ​ | ​ | ​ | ​ | 42,633 | ​ | ​ | 29,074
Restricted bank stock | ​ | ​ | 1,029 | ​ | ​ | N/A | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans, net | ​ | ​ | 1,143,791 | ​ | ​ | 1,135,878 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,135,878
Accrued interest receivable | ​ | ​ | 5,034 | ​ | ​ | 5,034 | ​ | ​ | ​ | ​ | ​ | 948 | ​ | ​ | 4,086
Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits - non-maturity | ​ | ​ | 1,270,342 | ​ | ​ | 1,270,342 | ​ | ​ | ​ | ​ | ​ | 1,270,342 | ​ | ​ | ​
Deposits - time deposits | ​ | ​ | 174,152 | ​ | ​ | 175,298 | ​ | ​ | ​ | ​ | ​ | 175,298 | ​ | ​ | ​
Financial derivatives | ​ | ​ | 727 | ​ | ​ | 727 | ​ | ​ | ​ | ​ | ​ | 727 | ​ | ​ | ​
Short-term borrowed funds | ​ | ​ | 72,396 | ​ | ​ | 72,396 | ​ | ​ | ​ | ​ | ​ | 72,396 | ​ | ​ | ​
Long-term borrowed funds | ​ | ​ | 30,929 | ​ | ​ | 30,980 | ​ | ​ | ​ | ​ | ​ | 30,980 | ​ | ​ | ​
Accrued interest payable | ​ | ​ | 142 | ​ | ​ | 142 | ​ | ​ | ​ | ​ | ​ | 142 | ​ | ​ | ​
Off balance sheet financial instruments | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020 | ​ | Fair Value Measurements
​ | ​ | ​ | ​ | ​ | ​ | Quoted | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Prices in | ​ | Significant | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Active Markets | ​ | Other | ​ | Significant
​ | ​ | ​ | ​ | ​ | ​ | for Identical | ​ | Observable | ​ | Unobservable
​ | ​ | Carrying | ​ | Fair | ​ | Assets | ​ | Inputs | ​ | Inputs
(in thousands) |  | Amount |  | Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Financial Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and due from banks | ​ | $ | 146,673 | ​ | $ | 146,673 | ​ | $ | 146,673 | ​ | ​ | ​ | ​ | ​ | ​
Interest bearing deposits in banks | ​ | ​ | 2,759 | ​ | ​ | 2,759 | ​ | ​ | 2,759 | ​ | ​ | ​ | ​ | ​ | ​
Investment securities - AFS | ​ | ​ | 226,885 | ​ | ​ | 226,885 | ​ | ​ | ​ | ​ | $ | 213,625 | ​ | $ | 13,260
Investment securities - HTM | ​ | ​ | 68,263 | ​ | ​ | 77,612 | ​ | ​ | ​ | ​ | ​ | 49,442 | ​ | ​ | 28,170
Restricted bank stock | ​ | ​ | 4,468 | ​ | ​ | N/A | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans, net | ​ | ​ | 1,149,596 | ​ | ​ | 1,150,186 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,150,186
Accrued interest receivable | ​ | ​ | 6,241 | ​ | ​ | 6,241 | ​ | ​ | ​ | ​ | ​ | 907 | ​ | ​ | 5,334
Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits - non-maturity | ​ | ​ | 1,194,140 | ​ | ​ | 1,194,140 | ​ | ​ | ​ | ​ | ​ | 1,194,140 | ​ | ​ | ​
Deposits - time deposits | ​ | ​ | 228,226 | ​ | ​ | 231,241 | ​ | ​ | ​ | ​ | ​ | 231,241 | ​ | ​ | ​
Financial derivative | ​ | ​ | 1,320 | ​ | ​ | 1,320 | ​ | ​ | ​ | ​ | ​ | 1,320 | ​ | ​ | ​
Short-term borrowed funds | ​ | ​ | 49,160 | ​ | ​ | 49,160 | ​ | ​ | ​ | ​ | ​ | 49,160 | ​ | ​ | ​
Long-term borrowed funds | ​ | ​ | 100,929 | ​ | ​ | 104,825 | ​ | ​ | ​ | ​ | ​ | 104,825 | ​ | ​ | ​
Accrued interest payable | ​ | ​ | 391 | ​ | ​ | 391 | ​ | ​ | ​ | ​ | ​ | 391 | ​ | ​ | ​
Off balance sheet financial instruments | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | ​

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 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
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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 http://asc.fasb.org/extlink&oid=121572278&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=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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