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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value of Financial Instruments

Schedule of summary of the carrying amounts and fair values of financial instruments


								December 31, 2020
								Fair Value Measurements
									Quoted Prices
								in Active						Net
								Markets for			Other			Significant
		December 31, 2020						Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
(in thousands)		amount			value			(Level 1)			(Level 2)			(Level 3)
Assets:
Cash and due from banks		$	19,235		$	19,235		$	19,235		$	—		$	—
Federal funds sold and overnight interest-bearing deposits			161,128			161,128			161,128			—			—
Certificates of deposit in other banks			9,376			9,376			9,376			—			—
Available for sale securities			198,030			198,030			2,798			195,232			—
Other investment securities			6,353			6,353			32			6,321			—
Loans, net			1,268,854			1,288,677			—			—			1,288,677
Loans held for sale			5,099			5,279			—			—			5,279
Cash surrender value - life insurance			2,451			2,451			—			2,451			—
Accrued interest receivable			6,640			6,640			6,640			—			—
Total		$	1,677,166		$	1,697,169		$	199,209		$	204,004		$	1,293,956
Liabilities:
Deposits:
Non-interest bearing demand		$	382,492		$	382,492		$	382,492		$	—		$	—
Savings, interest checking and money market			723,808			723,808			723,808			—			—
Time deposits			277,306			279,569			—			—			279,569
Federal funds purchased and securities sold under agreements to repurchase			45,154			45,154			45,154			—			—
Federal Home Loan Bank advances and other borrowings			106,674			110,121			—			110,121			—
Subordinated notes			49,486			40,929			—			40,929			—
Operating lease liabilities			2,137			2,137						2,137
Accrued interest payable			837			837			837			—			—
Total		$	1,587,894		$	1,585,047		$	1,152,291		$	153,187		$	279,569


								December 31, 2019
								Fair Value Measurements
								Quoted Prices
								in Active						Net
								Markets for			Other			Significant
		December 31, 2019						Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
(in thousands)		amount			value			(Level 1)			(Level 2)			(Level 3)
Assets:
Cash and due from banks		$	22,576		$	22,576		$	22,576		$	—		$	—
Federal funds sold and overnight interest-bearing deposits			55,545			55,545			55,545			—			—
Certificates of deposit in other banks			10,862			10,862			10,862			—			—
Available-for-sale securities			175,093			175,093			995			174,098			—
Other investment securities			5,808			5,808			13			5,795			—
Loans, net			1,156,320			1,148,339			—			—			1,148,339
Loans held for sale			428			435			—			—			435
Cash surrender value - life insurance			2,398			2,398			—			2,398			—
Accrued interest receivable			6,481			6,481			6,481			—			—
		$	1,435,511		$	1,427,537		$	96,472		$	182,291		$	1,148,774
Liabilities:
Deposits:
Non-interest bearing demand		$	261,166		$	261,166		$	261,166		$	—		$	—
Savings, interest checking and money market			614,331			614,331			614,331			—			—
Time deposits			311,024			311,489			—			—			311,489
Federal funds purchased and securities sold under agreements to repurchase			27,272			27,272			27,272			—			—
Federal Home Loan Bank advances and other borrowings			96,919			97,833			—			97,833			—
Subordinated notes			49,486			43,640			—			43,640			—
Operating lease liabilities			2,224			2,224			—			2,224			—
Accrued interest payable			1,136			1,136			1,136			—			—
		$	1,363,558		$	1,359,091		$	903,905		$	143,697		$	311,489