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Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value of Financial Instruments

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


								June 30, 2021
								Fair Value Measurements
									Quoted Prices
								in Active						Net
								Markets for			Other			Significant
		June 30, 2021						Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
(in thousands)		amount			value			(Level 1)			(Level 2)			(Level 3)
Assets:
Cash and due from banks		$	17,920		$	17,920		$	17,920		$	—		$	—
Federal funds sold and overnight interest-bearing deposits			58,514			58,514			58,514			—			—
Certificates of deposit in other banks			7,165			7,165			7,165			—			—
Available-for-sale securities			276,013			276,013			3,034			272,979			—
Other investment securities			6,009			6,009			45			5,964			—
Loans, net			1,275,159			1,299,656			—			—			1,299,656
Loans held for sale			2,487			2,565			—			—			2,565
Cash surrender value - life insurance			2,480			2,480			—			2,480			—
Accrued interest receivable			6,849			6,849			6,849			—			—
Total		$	1,652,596		$	1,677,171		$	93,527		$	281,423		$	1,302,221
Liabilities:
Deposits:
Non-interest bearing demand		$	433,288		$	433,288		$	433,288		$	—		$	—
Savings, interest checking and money market			704,236			704,236			704,236			—			—
Time deposits			243,477			244,871			—			—			244,871
Federal funds purchased and securities sold under agreements to repurchase			32,018			32,018			32,018			—			—
Federal Home Loan Bank advances and other borrowings			93,554			95,314			—			95,314			—
Subordinated notes			49,486			41,424			—			41,424			—
Accrued interest payable			376			376			376			—			—
Total		$	1,556,435		$	1,551,527		$	1,169,918		$	136,738		$	244,871


								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			—
Accrued interest payable			837			837			837			—			—
Total		$	1,585,757		$	1,582,910		$	1,152,291		$	151,050		$	279,569