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Fair Value of Assets and Liabilities (Tables) | 9 Months Ended
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Sep. 30, 2021
Fair Value of Assets and Liabilities [Abstract] |
Fair Value, Assets Measured on Recurring Basis | Fair Value Measurement Using Reporting DateDescription Total Level 1 Level 2 Level 3September 30, 2021 (In thousands)ASSETS Available for Sale: U.S. Treasury securities $ 15,506 $ - $ 15,506 $ -U.S. Government agencies 14,048 14,048 States and political subdivisions 121,351 - 121,351 -Mortgage-backed securities-government sponsored entities 211,083 - 211,083 -Interest rate derivatives 171 - 171 - LIABILITIES Interest rate derivatives 171 - 171 - Description Total Level 1 Level 2 Level 3December 31, 2020 (In thousands)ASSETS Available for Sale: U.S. Government agencies $ 3,969 $ - $ 3,969 $ -States and political subdivisions 73,091 73,091 Corporate obligations 3,032 - 3,032 -Mortgage-backed securities-government sponsored entities 146,494 - 146,494 -Interest rate derivatives 276 - 276 - LIABILITIES Interest rate derivatives 276 - 276 -
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis | Fair Value Measurement Using Reporting Date (In thousands) Description Total Level 1 Level 2 Level 3September 30, 2021 Impaired Loans $ 2,330 $ - $ - $ 2,330Foreclosed Real Estate Owned 1,876 - - 1,876December 31, 2020 Impaired Loans $ 2,662 $ - $ - $ 2,662Foreclosed Real Estate Owned 965 - - 965
Additional Qualitative Information about Level 3 Assets | Quantitative Information about Level 3 Fair Value Measurements(dollars in thousands)Fair Value Estimate Valuation TechniquesUnobservable Input Range (Weighted Average)September 30, 2021 Impaired loans$ 2,330 Appraisal of collateral(1)Appraisal adjustments(2) 10%-18.09% (14.73%)Foreclosed real estate owned$ 1,876 Appraisal of collateral(1)Liquidation Expenses(2) 7.00% (7.00%) Quantitative Information about Level 3 Fair Value Measurements(dollars in thousands)Fair Value Estimate Valuation TechniquesUnobservable Input Range (Weighted Average)December 31, 2020 Impaired loans$ 2,662 Appraisal of collateral(1)Appraisal adjustments(2) 0%-10.59% (9.75%) Foreclosed real estate owned$ 965 Appraisal of collateral(1)Liquidation Expenses(2) 7.00% (7.00%) (1)Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable, less any associated allowance.(2)Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.
Fair Value, by Balance Sheet Grouping | Fair Value Measurements at September 30, 2021 Carrying Amount Fair Value Level 1 Level 2 Level 3Financial assets: Cash and cash equivalents (1)$ 219,933 $ 219,933 $ 219,933 $ - $ -Loans receivable, net 1,354,899 1,415,701 - - 1,415,701Mortgage servicing rights 313 479 - - 479Regulatory stock (1) 3,898 3,898 3,898 - -Bank owned life insurance (1) 39,864 39,864 39,864 - -Accrued interest receivable (1) 6,049 6,049 6,049 - -Financial liabilities: Deposits 1,722,522 1,725,871 1,241,518 - 484,353Short-term borrowings (1) 78,246 78,246 78,246 - -Other borrowings 33,136 33,593 - - 33,593Accrued interest payable (1) 1,341 1,341 1,341 - -Off-balance sheet financial instruments: Commitments to extend credit and‎outstanding letters of credit - - - - - Fair Value Measurements at December 31, 2020 Carrying Amount Fair Value Level 1 Level 2 Level 3Financial assets: Cash and cash equivalents (1)$ 111,693 $ 111,693 $ 111,693 $ - $ -Loans receivable, net 1,397,582 1,493,480 - - 1,493,480Mortgage servicing rights 337 476 - - 476Regulatory stock (1) 3,981 3,981 3,981 - -Bank owned life insurance (1) 39,608 39,608 39,608 - -Accrued interest receivable (1) 6,232 6,232 6,232 - -Financial liabilities: Deposits 1,535,385 1,540,661 1,001,555 - 539,106Short-term borrowings (1) 63,303 63,303 63,303 - -Other borrowings 42,459 43,452 - - 43,452Accrued interest payable (1) 1,601 1,601 1,601 - -Off-balance sheet financial instruments: Commitments to extend credit and‎outstanding letters of credit - - - - - (1)This financial instrument is carried at cost, which approximates the fair value of the instrument.

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + 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 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 3: 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 input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring 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=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://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 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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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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