XML 41 R32.htm IDEA: XBRL DOCUMENT

Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value of Assets and Liabilities

Schedule of balances of financial assets and liabilities measured at fair value on a recurring basis

March 31, 2023

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. Treasury securities

$

—

$

56,955

$

—

$

56,955

U.S. government agencies and corporations

—

126,096

—

126,096

Mortgage-backed securities

—

182,491

—

182,491

Obligations of states and political subdivisions

—

126,039

—

126,039

Corporate and other debt securities

—

22,044

—

22,044

Total securities available for sale

—

513,625

—

513,625

Loans held for sale

—

26,330

—

26,330

Other investments

—

3,426

—

3,426

Derivatives

IRLC

—

907

—

907

Interest rate swaps on loans

—

4,837

—

4,837

Cash flow hedges

—

1,589

—

1,589

Total assets

$

—

$

550,714

$

—

$

550,714

Liabilities:

Derivatives

Interest rate swaps on loans

$

—

$

4,837

$

—

$

4,837

Total liabilities

$

—

$

4,837

$

—

$

4,837


		December 31, 2022
		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. Treasury securities		$	—		$	58,833		$	—		$	58,833
U.S. government agencies and corporations			—			130,274			—			130,274
Mortgage-backed securities			—			179,918			—			179,918
Obligations of states and political subdivisions			—			120,827			—			120,827
Corporate and other debt securities			—			22,739			—			22,739
Total securities available for sale			—			512,591			—			512,591
Loans held for sale			—			14,259			—			14,259
Other investments			—			3,649			—			3,649
Derivatives
IRLC			—			391			—			391
Interest rate swaps on loans			—			6,328			—			6,328
Cash flow hedges			—			1,941			—			1,941
Total assets		$	—		$	539,159		$	—		$	539,159

Liabilities:
Derivatives
Interest rate swaps on loans		$	—		$	6,328		$	—		$	6,328
Total liabilities		$	—		$	6,328		$	—		$	6,328

Schedule of carrying amounts and estimated fair values of financial instruments

Carrying

Fair Value Measurements at March 31, 2023 Classified as

Total Fair

(Dollars in thousands)

Value

Level 1

Level 2

Level 3

Value

Financial assets:

Cash and short-term investments

$

87,201

$

84,220

$

2,929

$

—

$

87,149

Securities available for sale

513,625

—

513,625

—

513,625

Loans, net

1,632,361

—

—

1,580,814

1,580,814

Loans held for sale

26,330

—

26,330

—

26,330

Other investments

3,426

—

3,426

—

3,426

Derivatives

IRLC

907

—

907

—

907

Interest rate swaps on loans

4,837

—

4,837

—

4,837

Cash flow hedges

1,589

—

1,589

—

1,589

Bank-owned life insurance

21,015

—

21,015

—

21,015

Accrued interest receivable

8,856

8,856

—

—

8,856

Financial liabilities:

Demand and savings deposits

1,500,388

1,500,388

—

—

1,500,388

Time deposits

495,410

—

488,388

—

488,388

Borrowings

194,936

—

183,423

—

183,423

Derivatives

Interest rate swaps on loans

4,837

—

4,837

—

4,837

Accrued interest payable

1,612

1,612

—

—

1,612


		Carrying			Fair Value Measurements at December 31, 2022 Classified as									Total Fair
(Dollars in thousands)		Value			Level 1			Level 2			Level 3			Value
Financial assets:
Cash and short-term investments		$	28,898		$	26,661		$	2,189		$	—		$	28,850
Securities available for sale			512,591			—			512,591			—			512,591
Loans, net			1,595,200			—			—			1,538,062			1,538,062
Loans held for sale			14,259			—			14,259			—			14,259
Other investments			3,649			—			3,649			—			3,649
Derivatives
IRLC			391			—			391			—			391
Interest rate swaps on loans			6,328			—			6,328			—			6,328
Cash flow hedges			1,941			—			1,941			—			1,941
Bank-owned life insurance			20,909			—			20,909			—			20,909
Accrued interest receivable			8,982			8,982			—			—			8,982
Financial liabilities:
Demand and savings deposits			1,622,566			1,622,566			—			—			1,622,566
Time deposits			381,294			—			374,267			—			374,267
Borrowings			85,943			—			71,906			—			71,906
Derivatives
Interest rate swaps on loans			6,328			—			6,328			—			6,328
Accrued interest payable			950			950			—			—			950