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Fair Value of Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2022
Fair Value of Financial Instruments [Abstract] |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Fair Value at March 31, 2022 |  | Valuation Technique |  | Significant Unobservable Inputs |  | Significant Unobservable Input Value
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment Securities – available for sale -CDO | ​ | $ | 17,319 | ​ | Discounted Cash Flow | ​ | Discount Rate | ​ | 4.50%
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired Loans, net | ​ | $ | 131 | ​ | Market Comparable Properties | ​ | Marketability Discount | ​ | 10.0% - 15.0% (1) (weighted avg 0%)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity Investment | ​ | $ | 590 | ​ | Market Method | ​ | Revenue Multiples | ​ | 2.8x
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | Fair Value at December 31, 2021 |  | Valuation Technique |  | Significant Unobservable Inputs |  | Significant Unobservable Input Value
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment Securities – available for sale -CDO | ​ | $ | 17,192 | ​ | Discounted Cash Flow | ​ | Discount Rate | ​ | 4.50%
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired Loans, net | ​ | $ | 408 | ​ | Market Comparable Properties | ​ | Marketability Discount | ​ | 10.0% - 15.0% (1) (weighted avg 13.2%)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity Investment | ​ | $ | 590 | ​ | Market Method | ​ | Revenue Multiples | ​ | 2.8x
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Real Estate Owned | ​ | $ | 349 | ​ | 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 March 31, 2022 Using
​ | ​ | ​ | ​ | Quoted | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Prices in | ​ | Significant | ​ | ​ | ​
​ | ​ | Assets/(liabilities) | ​ | Active Markets | ​ | Other | ​ | Significant
​ | ​ | Measured at | ​ | for Identical | ​ | Observable | ​ | Unobservable
​ | ​ | Fair Value | ​ | Assets | ​ | Inputs | ​ | Inputs
(in thousands) |  | 03/31/22 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ | $ | 10,298 | ​ | ​ | ​ | ​ | $ | 10,298 | ​ | ​ | ​
Residential mortgage-backed agencies | ​ | $ | 44,298 | ​ | ​ | ​ | ​ | $ | 44,298 | ​ | ​ | ​
Commercial mortgage-backed agencies | ​ | $ | 36,233 | ​ | ​ | ​ | ​ | $ | 36,233 | ​ | ​ | ​
Collateralized mortgage obligations | ​ | $ | 25,997 | ​ | ​ | ​ | ​ | $ | 25,997 | ​ | ​ | ​
Obligations of states and political subdivisions | ​ | $ | 8,464 | ​ | ​ | ​ | ​ | $ | 8,464 | ​ | ​ | ​
Corporate bonds | ​ | $ | 1,000 | ​ | ​ | ​ | ​ | $ | 1,000 | ​ | ​ | ​
Collateralized debt obligations | ​ | $ | 17,319 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 17,319
Financial derivatives | ​ | $ | 386 | ​ | ​ | ​ | ​ | $ | 386 | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans, net | ​ | $ | 131 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 131
Equity Investment | ​ | $ | 590 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 590
Other real estate owned | ​ | $ | — | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurements at December 31, 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) |  | 12/31/21 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities available-for-sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies | ​ | $ | 67,169 | ​ | ​ | ​ | ​ | $ | 67,169 | ​ | ​ | ​
Residential mortgage-backed agencies | ​ | $ | 48,661 | ​ | ​ | ​ | ​ | $ | 48,661 | ​ | ​ | ​
Commercial mortgage-backed agencies | ​ | $ | 50,868 | ​ | ​ | ​ | ​ | $ | 50,868 | ​ | ​ | ​
Collateralized mortgage obligations | ​ | $ | 90,077 | ​ | ​ | ​ | ​ | $ | 90,077 | ​ | ​ | ​
Obligations of states and political subdivisions | ​ | $ | 12,804 | ​ | ​ | ​ | ​ | $ | 12,804 | ​ | ​ | ​
Collateralized debt obligations | ​ | $ | 17,192 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 17,192
Financial derivatives | ​ | $ | (453) | ​ | ​ | ​ | ​ | $ | (453) | ​ | ​ | ​
Non-recurring: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans, net | ​ | $ | 408 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 408
Equity investment | ​ | $ | 590 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 590
Other real estate owned | ​ | $ | 349 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 349
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, 2022 | ​ | $ | 17,192
Total losses realized/unrealized: | ​ | ​ | ​
Included in other comprehensive loss | ​ | ​ | 127
Ending balance March 31, 2022 | ​ | $ | 17,319
​ ​ ​
​ | ​ | ​ | ​
​ | ​ | 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 loss | ​ | ​ | 389
Ending balance March 31, 2021 | ​ | $ | 13,649
​
Fair Value by Balance Sheet Grouping | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2022 | ​ | 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 | ​ | $ | 71,211 | ​ | $ | 71,211 | ​ | $ | 71,211 | ​ | ​ | ​ | ​ | ​ | ​
Interest bearing deposits in banks | ​ | ​ | 4,905 | ​ | ​ | 4,905 | ​ | ​ | 4,905 | ​ | ​ | ​ | ​ | ​ | ​
Investment securities - AFS | ​ | ​ | 143,609 | ​ | ​ | 143,609 | ​ | ​ | ​ | ​ | $ | 126,290 | ​ | $ | 17,319
Investment securities - HTM | ​ | ​ | 241,656 | ​ | ​ | 235,026 | ​ | ​ | ​ | ​ | ​ | 210,338 | ​ | ​ | 24,688
Restricted bank stock | ​ | ​ | 1,026 | ​ | ​ | N/A | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans, net | ​ | ​ | 1,166,002 | ​ | ​ | 1,132,057 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,132,057
Financial derivatives | ​ | ​ | 386 | ​ | ​ | 386 | ​ | ​ | ​ | ​ | ​ | 386 | ​ | ​ | ​
Accrued interest receivable | ​ | ​ | 5,075 | ​ | ​ | 5,075 | ​ | ​ | ​ | ​ | ​ | 989 | ​ | ​ | 4,086
Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits - non-maturity | ​ | ​ | 1,359,262 | ​ | ​ | 1,359,262 | ​ | ​ | ​ | ​ | ​ | 1,359,262 | ​ | ​ | ​
Deposits - time deposits | ​ | ​ | 148,293 | ​ | ​ | 148,716 | ​ | ​ | ​ | ​ | ​ | 148,716 | ​ | ​ | ​
Short-term borrowed funds | ​ | ​ | 58,902 | ​ | ​ | 58,902 | ​ | ​ | ​ | ​ | ​ | 58,902 | ​ | ​ | ​
Long-term borrowed funds | ​ | ​ | 30,929 | ​ | ​ | 31,070 | ​ | ​ | ​ | ​ | ​ | 31,070 | ​ | ​ | ​
Accrued interest payable | ​ | ​ | 103 | ​ | ​ | 103 | ​ | ​ | ​ | ​ | ​ | 103 | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 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 | ​ | $ | 109,823 | ​ | $ | 109,823 | ​ | $ | 109,823 | ​ | ​ | ​ | ​ | ​ | ​
Interest bearing deposits in banks | ​ | ​ | 5,897 | ​ | ​ | 5,897 | ​ | ​ | 5,897 | ​ | ​ | ​ | ​ | ​ | ​
Investment securities - AFS | ​ | ​ | 286,771 | ​ | ​ | 286,771 | ​ | ​ | ​ | ​ | $ | 269,579 | ​ | $ | 17,192
Investment securities - HTM | ​ | ​ | 56,259 | ​ | ​ | 65,369 | ​ | ​ | ​ | ​ | ​ | 36,448 | ​ | ​ | 28,921
Restricted bank stock | ​ | ​ | 1,029 | ​ | ​ | 1,029 | ​ | ​ | ​ | ​ | ​ | 1,029 | ​ | ​ | ​
Loans, net | ​ | ​ | 1,137,440 | ​ | ​ | 1,122,671 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,122,671
Accrued interest receivable | ​ | ​ | 4,821 | ​ | ​ | 4,821 | ​ | ​ | ​ | ​ | ​ | 4,821 | ​ | ​ | ​
Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deposits - non-maturity | ​ | ​ | 1,306,145 | ​ | ​ | 1,306,145 | ​ | ​ | ​ | ​ | ​ | 1,306,145 | ​ | ​ | ​
Deposits - time deposits | ​ | ​ | 163,229 | ​ | ​ | 163,961 | ​ | ​ | ​ | ​ | ​ | 163,961 | ​ | ​ | ​
Financial derivatives | ​ | ​ | 453 | ​ | ​ | 453 | ​ | ​ | ​ | ​ | ​ | 453 | ​ | ​ | ​
Short-term borrowed funds | ​ | ​ | 57,699 | ​ | ​ | 57,699 | ​ | ​ | ​ | ​ | ​ | 57,699 | ​ | ​ | ​
Long-term borrowed funds | ​ | ​ | 30,929 | ​ | ​ | 31,085 | ​ | ​ | ​ | ​ | ​ | 31,085 | ​ | ​ | ​
Accrued interest payable | ​ | ​ | 137 | ​ | ​ | 137 | ​ | ​ | ​ | ​ | ​ | 137 | ​ | ​ | ​

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=123874694&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=123874694&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=123874694&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=123874694&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=123874694&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=123874694&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=123874694&loc=d3e19207-110258 + Details
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