XML 40 R30.htm IDEA: XBRL DOCUMENT

Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value of Assets and Liabilities

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

March 31, 2024

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

$

—

$

28,306

$

—

$

28,306

U.S. government agencies and corporations

—

74,718

—

74,718

Mortgage-backed securities

—

159,188

—

159,188

Obligations of states and political subdivisions

—

146,651

—

146,651

Corporate and other debt securities

—

21,558

—

21,558

Total securities available for sale

—

430,421

—

430,421

Loans held for sale

—

22,622

—

22,622

Other investments

—

3,653

—

3,653

Derivatives

IRLC

—

740

—

740

Interest rate swaps on loans

—

6,287

—

6,287

Cash flow hedges

—

1,521

—

1,521

Total assets

$

—

$

465,244

$

—

$

465,244

Liabilities:

Derivatives

Interest rate swaps on loans

$

—

$

6,287

$

—

$

6,287

Total liabilities

$

—

$

6,287

$

—

$

6,287


		December 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		$	—		$	45,103		$	—		$	45,103
U.S. government agencies and corporations			—			87,094			—			87,094
Mortgage-backed securities			—			161,696			—			161,696
Obligations of states and political subdivisions			—			147,111			—			147,111
Corporate and other debt securities			—			21,440			—			21,440
Total securities available for sale			—			462,444			—			462,444
Loans held for sale			—			14,176			—			14,176
Other investments			—			3,751			—			3,751
Derivatives
IRLC			—			335			—			335
Interest rate swaps on loans			—			6,110			—			6,110
Cash flow hedges			—			1,415			—			1,415
Total assets		$	—		$	488,231		$	—		$	488,231

Liabilities:
Derivatives
Interest rate swaps on loans		$	—		$	6,110		$	—		$	6,110
Total liabilities		$	—		$	6,110		$	—		$	6,110

Schedule of carrying amounts and estimated fair values of financial instruments

Carrying

Fair Value Measurements at March 31, 2024 Classified as

Total Fair

(Dollars in thousands)

Value

Level 1

Level 2

Level 3

Value

Financial assets:

Cash and short-term investments

$

56,960

$

55,207

$

1,753

$

—

$

56,960

Securities available for sale

430,421

—

430,421

—

430,421

Loans, net

1,777,227

—

—

1,719,470

1,719,470

Loans held for sale

22,622

—

22,622

—

22,622

Other investments

3,653

—

3,653

—

3,653

Derivatives

IRLC

740

—

740

—

740

Interest rate swaps on loans

6,287

—

6,287

—

6,287

Cash flow hedges

1,521

—

1,521

—

1,521

Bank-owned life insurance

21,586

—

21,586

—

21,586

Accrued interest receivable

10,595

10,595

—

—

10,595

Financial liabilities:

Demand and savings deposits

1,351,762

1,351,762

—

—

1,351,762

Time deposits

736,170

—

733,161

—

733,161

Borrowings

113,214

—

100,121

—

100,121

Derivatives

Interest rate swaps on loans

6,287

—

6,287

—

6,287

Accrued interest payable

4,644

4,644

—

—

4,644


		Carrying			Fair Value Measurements at December 31, 2023 Classified as									Total Fair
(Dollars in thousands)		Value			Level 1			Level 2			Level 3			Value
Financial assets:
Cash and short-term investments		$	77,403		$	75,159		$	2,244		$	—		$	77,403
Securities available for sale			462,444			—			462,444			—			462,444
Loans, net			1,702,488			—			—			1,643,462			1,643,462
Loans held for sale			14,176			—			14,176			—			14,176
Other investments			3,751			—			3,751			—			3,751
Derivatives
IRLC			335			—			335			—			335
Interest rate swaps on loans			6,110			—			6,110			—			6,110
Cash flow hedges			1,415			—			1,415			—			1,415
Bank-owned life insurance			21,464			—			21,464			—			21,464
Accrued interest receivable			10,398			10,398			—			—			10,398
Financial liabilities:
Demand and savings deposits			1,392,931			1,392,931			—			—			1,392,931
Time deposits			673,199			—			668,965			—			668,965
Borrowings			103,618			—			90,120			—			90,120
Derivatives
Interest rate swaps on loans			6,110			—			6,110			—			6,110
Accrued interest payable			3,493			3,493			—			—			3,493