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v3.22.2.2

Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 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 September 30, 2022 and December 31, 2021 is as follows:
|  |  |  |  | September 30, 2022
|  |  |  |  | Fair Value Measurements
| September 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 | $ | 15,081 |  |  | $ | 15,081 |  |  | $ | 15,081 |  |  | $ | — |  |  | $ | — |
Federal funds sold and overnight interest-bearing deposits | 26,305 |  | 26,305 |  | 26,305 |  | — |  | —
Certificates of deposit in other banks | 4,195 |  | 4,195 |  | 4,195 |  | — |  | —
Available-for-sale securities | 245,155 |  | 245,155 |  | 3,506 |  | 241,649 |  | —
Other investment securities | 5,361 |  | 5,361 |  | 48 |  | 5,313 |  | —
Loans, net | 1,476,492 |  | 1,424,475 |  | — |  | — |  | 1,424,475
Loans held for sale | 913 |  | 913 |  | — |  | 913 |  | —
Cash surrender value - life insurance | 2,553 |  | 2,553 |  | — |  | 2,553 |  | —
Interest rate lock commitments | 10 |  | 10 |  | — |  | — |  | 10
Forward sale commitments | 35 |  | 35 |  | — |  | 35 |  | —
Accrued interest receivable | 7,048 |  | 7,048 |  | 7,048 |  | — |  | —
Total | $ | 1,783,148 |  |  | $ | 1,731,131 |  |  | $ | 56,183 |  |  | $ | 250,463 |  |  | $ | 1,424,485 |
Liabilities: |  |  |  |  |  |  |  |  |
Deposits: |  |  |  |  |  |  |  |  |
Non-interest bearing demand | $ | 498,653 |  |  | $ | 498,653 |  |  | $ | 498,653 |  |  | $ | — |  |  | $ | — |
Savings, interest checking and money market | 825,593 |  | 825,593 |  | 825,593 |  | — |  | —
Time deposits | 268,552 |  | 264,472 |  | — |  | — |  | 264,472
Federal funds purchased and securities sold under agreements to repurchase | 5,890 |  | 5,890 |  | 5,890 |  | — |  | —
Federal Home Loan Bank advances and other borrowings | 73,000 |  | 73,000 |  | — |  | 73,000 |  | —
Subordinated notes | 49,486 |  | 40,187 |  | — |  | 40,187 |  | —
Interest rate lock commitments | 76 |  | 76 |  | — |  | — |  | 76
Accrued interest payable | 565 |  | 565 |  | 565 |  | — |  | —
Total | $ | 1,721,815 |  |  | $ | 1,708,436 |  |  | $ | 1,330,701 |  |  | $ | 113,187 |  |  | $ | 264,548 |
|  |  |  |  | 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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