XML 41 R31.htm IDEA: XBRL DOCUMENT
v3.21.2

Fair Value of Assets and Liabilities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Fair Value of Assets and Liabilities |
Schedule of balances of financial assets and liabilities measured at fair value on a recurring basis | ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2021 |
​ | ​ | Fair Value Measurements Classified as | ​ | Assets/Liabilities at |
(Dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value |
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies and corporations | ​ | $ | — | ​ | $ | 62,572 | ​ | $ | — | ​ | $ | 62,572 | ​
Mortgage-backed securities | ​ |  | — | ​ |  | 186,120 | ​ |  | — | ​ |  | 186,120 | ​
Obligations of states and political subdivisions | ​ |  | — | ​ |  | 96,305 | ​ |  | — | ​ |  | 96,305 | ​
Corporate and other debt securities | ​ | ​ | — | ​ | ​ | 18,416 | ​ | ​ | — | ​ | ​ | 18,416 | ​
Total securities available for sale | ​ |  | — | ​ |  | 363,413 | ​ |  | — | ​ |  | 363,413 | ​
Loans held for sale | ​ |  | — | ​ |  | 116,789 | ​ |  | — | ​ |  | 116,789 | ​
Derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
IRLC | ​ |  | — | ​ |  | 2,875 | ​ |  | — | ​ |  | 2,875 | ​
Interest rate swaps on loans | ​ | ​ | — | ​ | ​ | 4,961 | ​ | ​ | — | ​ | ​ | 4,961 | ​
Forward sales of TBA securities | ​ |  | — | ​ |  | 45 | ​ |  | — | ​ |  | 45 | ​
Total assets | ​ | $ | — | ​ | $ | 488,083 | ​ | $ | — | ​ | $ | 488,083 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps on loans | ​ | $ | — | ​ | $ | 4,961 | ​ | $ | — | ​ | $ | 4,961 | ​
Cash flow hedges | ​ | ​ | — | ​ | ​ | 960 | ​ | ​ | — | ​ | ​ | 960 | ​
Total liabilities | ​ | $ | — | ​ | $ | 5,921 | ​ | $ | — | ​ | $ | 5,921 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020 |
​ | ​ | Fair Value Measurements Classified as | ​ | Assets/Liabilities at |
(Dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value |
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agencies and corporations | ​ | $ | — | ​ | $ | 48,282 | ​ | $ | — | ​ | $ | 48,282 | ​
Mortgage-backed securities | ​ |  | — | ​ |  | 123,714 | ​ |  | — | ​ |  | 123,714 | ​
Obligations of states and political subdivisions | ​ |  | — | ​ |  | 102,805 | ​ |  | — | ​ |  | 102,805 | ​
Corporate and other debt securities | ​ |  | — | ​ |  | 11,588 | ​ |  | — | ​ |  | 11,588 | ​
Total securities available for sale | ​ |  | — | ​ |  | 286,389 | ​ |  | — | ​ |  | 286,389 | ​
Loans held for sale | ​ |  | — | ​ |  | 214,266 | ​ |  | — | ​ |  | 214,266 | ​
Derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
IRLC | ​ |  | — | ​ |  | 4,582 | ​ |  | — | ​ |  | 4,582 | ​
Interest rate swaps on loans | ​ |  | — | ​ |  | 8,185 | ​ |  | — | ​ |  | 8,185 | ​
Total assets | ​ | $ | — | ​ | $ | 513,422 | ​ | $ | — | ​ | $ | 513,422 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps on loans | ​ | $ | — | ​ | $ | 8,185 | ​ | $ | — | ​ | $ | 8,185 | ​
Cash flow hedges | ​ | ​ | — | ​ | ​ | 1,882 | ​ | ​ | — | ​ | ​ | 1,882 | ​
Forward sales of TBA securities | ​ | ​ | — | ​ | ​ | 47 | ​ | ​ | — | ​ | ​ | 47 | ​
Total liabilities | ​ | $ | — | ​ | $ | 10,114 | ​ | $ | — | ​ | $ | 10,114 | ​
Schedule of balances of assets measured at fair value on a nonrecurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2021 |
​ | ​ | Fair Value Measurements Classified as | ​ | Assets at Fair |
(Dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Value |
Other real estate owned, net | ​ | $ | — | ​ | $ | — | ​ | $ | 22 | ​ | $ | 22 | ​
Total | ​ | $ | — | ​ | $ | — | ​ | $ | 22 | ​ | $ | 22 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2020 |
​ | ​ | Fair Value Measurements Classified as | ​ | Assets at Fair |
(Dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Value |
Other real estate owned, net | ​ | $ | — | ​ | $ | — | ​ | $ | 72 | ​ | $ | 72 | ​
Total | ​ | $ | — | ​ | $ | — | ​ | $ | 72 | ​ | $ | 72 | ​
Schedule of quantitative information about Level 3 fair value measurements for financial assets measured at fair value on a nonrecurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements |
(Dollars in thousands) |  | Fair Value |  | Valuation Technique(s) |  | Unobservable Inputs |  | Range (Weighted Average)1 |
At September 30, 2021: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other real estate owned, net | ​ | $ | 22 |  | Appraisals |  | Discount to reflect current market conditions and estimated selling costs |  | 75% (75%) | ​
Total | ​ | $ | 22 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2020: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other real estate owned, net | ​ | $ | 72 |  | Appraisals |  | Discount to reflect current market conditions and estimated selling costs |  | 75% - 80% (79%) | ​
Total | ​ | $ | 72 | ​ | ​ | ​ | ​ | ​ | ​ | ​
1 | The weighted average of unobservable inputs is calculated based on the relative asset fair values.
Schedule of carrying amounts and estimated fair values of financial instruments | ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Carrying |  | Fair Value Measurements at September 30, 2021 Classified as |  | Total Fair |
(Dollars in thousands) | ​ | Value | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Value |
Financial assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and short-term investments | ​ | $ | 204,475 | ​ | $ | 201,495 | ​ | $ | 2,479 | ​ | $ | — | ​ | $ | 203,974 | ​
Securities available for sale | ​ |  | 363,413 | ​ | ​ | — | ​ |  | 363,413 | ​ | ​ | — | ​ |  | 363,413 | ​
Loans, net | ​ |  | 1,351,564 | ​ |  | — | ​ |  | — | ​ |  | 1,368,093 | ​ |  | 1,368,093 | ​
Loans held for sale | ​ |  | 116,789 | ​ |  | — | ​ |  | 116,789 | ​ |  | — | ​ |  | 116,789 | ​
Derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
IRLC | ​ | ​ | 2,875 | ​ | ​ | — | ​ | ​ | 2,875 | ​ | ​ | — | ​ | ​ | 2,875 | ​
Interest rate swaps on loans | ​ | ​ | 4,961 | ​ | ​ | — | ​ | ​ | 4,961 | ​ | ​ | — | ​ | ​ | 4,961 | ​
Forward sales of TBA securities | ​ | ​ | 45 | ​ | ​ | — | ​ | ​ | 45 | ​ | ​ | — | ​ | ​ | 45 | ​
Bank-owned life insurance | ​ | ​ | 20,382 | ​ | ​ | — | ​ | ​ | 20,382 | ​ | ​ | — | ​ | ​ | 20,382 | ​
Accrued interest receivable | ​ |  | 7,125 | ​ |  | 7,125 | ​ |  | — | ​ |  | — | ​ |  | 7,125 | ​
Financial liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Demand and savings deposits | ​ | ​ | 1,411,980 | ​ | ​ | 1,411,980 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,411,980 | ​
Time deposits | ​ |  | 441,105 | ​ |  | — | ​ |  | 444,446 | ​ |  | — | ​ |  | 444,446 | ​
Borrowings | ​ |  | 86,394 | ​ |  | — | ​ |  | 91,484 | ​ |  | — | ​ |  | 91,484 | ​
Derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flow hedges | ​ |  | 960 | ​ | ​ | — | ​ |  | 960 | ​ | ​ | — | ​ |  | 960 | ​
Interest rate swaps on loans | ​ | ​ | 4,961 | ​ | ​ | — | ​ | ​ | 4,961 | ​ | ​ | — | ​ | ​ | 4,961 | ​
Accrued interest payable | ​ |  | 581 | ​ |  | 581 | ​ |  | — | ​ |  | — | ​ |  | 581 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Carrying |  | Fair Value Measurements at December 31, 2020 Classified as |  | Total Fair |
(Dollars in thousands) | ​ | Value | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Value |
Financial assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and short-term investments | ​ | $ | 94,342 | ​ | $ | 86,669 | ​ | $ | 7,710 | ​ | $ | — | ​ | $ | 94,379 | ​
Securities available for sale | ​ |  | 286,389 | ​ | ​ | — | ​ |  | 286,389 | ​ | ​ | — | ​ |  | 286,389 | ​
Loans, net | ​ |  | 1,313,250 | ​ |  | — | ​ |  | — | ​ |  | 1,308,569 | ​ |  | 1,308,569 | ​
Loans held for sale | ​ |  | 214,266 | ​ |  | — | ​ |  | 214,266 | ​ |  | — | ​ |  | 214,266 | ​
Derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
IRLC | ​ | ​ | 4,582 | ​ | ​ | — | ​ | ​ | 4,582 | ​ | ​ | — | ​ | ​ | 4,582 | ​
Interest rate swaps on loans | ​ | ​ | 8,185 | ​ | ​ | — | ​ | ​ | 8,185 | ​ | ​ | — | ​ | ​ | 8,185 | ​
Bank-owned life insurance | ​ | ​ | 20,205 | ​ | ​ | — | ​ | ​ | 20,205 | ​ | ​ | — | ​ | ​ | 20,205 | ​
Accrued interest receivable | ​ |  | 8,103 | ​ |  | 8,103 | ​ |  | — | ​ |  | — | ​ |  | 8,103 | ​
Financial liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Demand and savings deposits | ​ | ​ | 1,282,590 | ​ | ​ | 1,282,590 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,282,590 | ​
Time deposits | ​ |  | 469,583 | ​ |  | — | ​ |  | 474,154 | ​ |  | — | ​ |  | 474,154 | ​
Borrowings | ​ |  | 69,864 | ​ |  | — | ​ |  | 71,119 | ​ |  | — | ​ |  | 71,119 | ​
Derivatives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flow hedges | ​ |  | 1,882 | ​ | ​ | — | ​ |  | 1,882 | ​ | ​ | — | ​ |  | 1,882 | ​
Interest rate swaps on loans | ​ | ​ | 8,185 | ​ | ​ | — | ​ | ​ | 8,185 | ​ | ​ | — | ​ | ​ | 8,185 | ​
Forward sales of TBA securities | ​ | ​ | 47 | ​ | ​ | — | ​ | ​ | 47 | ​ | ​ | ​ | ​ | ​ | 47 | ​
Accrued interest payable | ​ |  | 1,109 | ​ |  | 1,109 | ​ |  | — | ​ |  | — | ​ |  | 1,109 | ​

X
- 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=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 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&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=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
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 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=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
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

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2003/role/disclosureRef -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://www.xbrl.org/2003/role/disclosureRef -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_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration