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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2022
Fair Value Disclosures [Abstract] |
Schedule of Carrying Amounts and Fair Values of Financial Instruments | A summary of the carrying amounts and fair values of the Company’s financial instruments at June 30, 2022 and December 31, 2021 is as follows:
|  |  |  |  | June 30, 2022
|  |  |  |  | Fair Value Measurements
| June 30, 2022 |  | Quoted Prices in Active Markets for Identical Assets |  | Other Observable Inputs |  | Net Significant Unobservable Inputs
(in thousands) | Carrying amount |  | Fair value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 20,018 |  |  | $ | 20,018 |  |  | $ | 20,018 |  |  | $ | — |  |  | $ | — |
Federal funds sold and overnight interest-bearing deposits | 8,204 |  | 8,204 |  | 8,204 |  | — |  | —
Certificates of deposit in other banks | 4,201 |  | 4,201 |  | 4,201 |  | — |  | —
Available-for-sale securities | 267,274 |  | 267,274 |  | 3,775 |  | 263,499 |  | —
Other investment securities | 5,109 |  | 5,109 |  | 47 |  | 5,062 |  | —
Loans, net | 1,412,475 |  | 1,401,198 |  | — |  | — |  | 1,401,198
Loans held for sale | 1,716 |  | 1,716 |  | — |  | 1,716 |  | —
Cash surrender value - life insurance | 2,538 |  | 2,538 |  | — |  | 2,538 |  | —
Interest rate lock commitments | 99 |  | 99 |  | — |  | — |  | 99
Forward sale commitments | 15 |  | 15 |  | — |  | 15 |  | —
Accrued interest receivable | 6,446 |  | 6,446 |  | 6,446 |  | — |  | —
Total | $ | 1,728,095 |  |  | $ | 1,716,818 |  |  | $ | 42,691 |  |  | $ | 272,830 |  |  | $ | 1,401,297 |
Liabilities: |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |
Non-interest bearing demand | $ | 471,762 |  |  | $ | 471,762 |  |  | $ | 471,762 |  |  | $ | — |  |  | $ | — |
Savings, interest checking and money market | 796,054 |  | 796,054 |  | 796,054 |  | — |  | —
Time deposits | 262,992 |  | 260,286 |  | — |  | — |  | 260,286
Federal funds purchased and securities sold under agreements to repurchase | 6,935 |  | 6,935 |  | 6,935 |  | — |  | —
Federal Home Loan Bank advances and other borrowings | 68,000 |  | 68,000 |  | — |  | 68,000 |  | —
Subordinated notes | 49,486 |  | 41,176 |  | — |  | 41,176 |  | —
Interest rate lock commitments | 4 |  | 4 |  | — |  | — |  | 4
Accrued interest payable | 359 |  | 359 |  | 359 |  | — |  | —
Total | $ | 1,655,592 |  |  | $ | 1,644,576 |  |  | $ | 1,275,110 |  |  | $ | 109,176 |  |  | $ | 260,290 |
|  |  |  |  | December 31, 2021
|  |  |  |  | Fair Value Measurements
| December 31, 2021 |  | Quoted Prices in Active Markets for Identical Assets |  | Other Observable Inputs |  | Net Significant Unobservable Inputs
(in thousands) | Carrying amount |  | Fair value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Assets: |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 17,287 |  |  | $ | 17,287 |  |  | $ | 17,287 |  |  | $ | — |  |  | $ | — |
Federal funds sold and overnight interest-bearing deposits | 142,622 |  |  | 142,622 |  |  | 142,622 |  |  | — |  |  | — |
Certificates of deposit in other banks | 5,193 |  |  | 5,193 |  |  | 5,193 |  |  | — |  |  | — |
Available-for-sale securities | 310,870 |  |  | 310,870 |  |  | 3,917 |  |  | 306,953 |  |  | — |
Other investment securities | 5,408 |  |  | 5,408 |  |  | 60 |  |  | 5,348 |  |  | — |
Loans, net | 1,285,230 |  |  | 1,308,539 |  |  | — |  |  | — |  |  | 1,308,539 |
Loans held for sale | 2,249 |  |  | 2,249 |  |  | — |  |  | 2,249 |  |  | — |
Cash surrender value - life insurance | 2,509 |  |  | 2,509 |  |  | — |  |  | 2,509 |  |  | — |
Interest rate lock commitments | 312 |  |  | 312 |  |  | — |  |  | — |  |  | 312 |
Forward sale commitments | 12 |  |  | 12 |  |  | — |  |  | 12 |  |  | — |
Accrued interest receivable | 6,621 |  |  | 6,621 |  |  | 6,621 |  |  | — |  |  | — |
Total | $ | 1,778,313 |  |  | $ | 1,801,622 |  |  | $ | 175,700 |  |  | $ | 317,071 |  |  | $ | 1,308,851 |
Liabilities: |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |
Non-interest bearing demand | $ | 453,066 |  |  | $ | 453,066 |  |  | $ | 453,066 |  |  | $ | — |  |  | $ | — |
Savings, interest checking and money market | 818,358 |  |  | 818,358 |  |  | 818,358 |  |  | — |  |  | — |
Time deposits | 245,396 |  |  | 246,025 |  |  | — |  |  | — |  |  | 246,025 |
Federal funds purchased and securities sold under agreements to repurchase | 23,829 |  |  | 23,829 |  |  | 23,829 |  |  | — |  |  | — |
Federal Home Loan Bank advances and other borrowings | 77,418 |  |  | 78,152 |  |  | — |  |  | 78,152 |  |  | — |
Subordinated notes | 49,486 |  |  | 42,908 |  |  | — |  |  | 42,908 |  |  | — |
Interest rate lock commitments | 26 |  |  | 26 |  |  | — |  |  | — |  |  | 26 |
Accrued interest payable | 282 |  |  | 282 |  |  | 282 |  |  | — |  |  | — |
Total | $ | 1,667,861 |  |  | $ | 1,662,646 |  |  | $ | 1,295,535 |  |  | $ | 121,060 |  |  | $ | 246,051 |

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- 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 https://asc.fasb.org/extlink&oid=123594938&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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