XML 23 R19.htm IDEA: XBRL DOCUMENT v3.20.1

6. Fair Value (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Available for sale securities measured at fair value on a recurring basis

(Dollars in thousands)
		March 31, 2020
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage-backed securities		$	84,076				—				84,076				—
U.S. Government
sponsored enterprises		$	26,908				—				26,908				—
State and political subdivisions		$	90,280				—				90,280				—
Trust preferred securities		$	250				—				—				250

		December 31, 2019
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage-backed securities		$	78,956				—				78,956				—
U.S. Government
sponsored enterprises		$	28,397				—				28,397				—
State and political subdivisions		$	88,143				—				88,143				—
Trust preferred securities		$	250				—				—				250

Fair value measurements of investment securities available for sale using Level 3 significant unobservable inputs

(Dollars in thousands)
		Investment Securities Available for Sale
		Level 3 Valuation
Balance, beginning of period		$	250
Change in book value			—
Change in gain/(loss) realized and unrealized			—
Purchases/(sales and calls)			—
Transfers in and/or (out) of Level 3			—
Balance, end of period		$	250
Change in unrealized gain/(loss) for assets still held in Level 3		$	—

Fair value measurements for mortgage loans held for sale, impaired loans and other real estate on a non-recurring basis

(Dollars in thousands)
		Fair Value Measurements March 31, 2020				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage loans held for sale		$	6,149				—				—				6,149
Impaired loans		$	21,730				—				—				21,730
Other real estate		$	—				—				—				—

(Dollars in thousands)
		Fair Value Measurements December 31, 2019				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage loans held for sale		$	4,417				—				—				4,417
Impaired loans		$	20,347				—				—				20,347
Other real estate		$	—				—				—				—

(Dollars in thousands)
		Fair Value September 30, 2019				Fair Value December 31, 2018			Valuation Technique		Significant Unobservable Inputs				General Range of Significant Unobservable Input Values
Mortgage loans held for sale		$	6,149				4,417		Rate lock commitment		N/A					N/A
Impaired loans		$	21,730				20,347		Appraised value and discounted cash flows		Discounts to reflect current market conditions and ultimate collectability					0 - 25%
Other real estate		$	—				—		Appraised value		Discounts to reflect current market conditions and estimated costs to sell					0 - 25%

Carrying amount and estimated fair value of the Company's financial instruments

(Dollars in thousands)
						Fair Value Measurements at March 31, 2020
		Carrying Amount				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	103,519				103,519				—				—				103,519
Investment securities available for sale		$	201,514				—				201,264				250				201,514
Other investments		$	7,229				—				—				7,229				7,229
Mortgage loans held for sale		$	6,149				—				—				6,149				6,149
Loans, net		$	872,452				—				—				846,684				846,684
Cash surrender value of life insurance		$	16,414				—				16,414				—				16,414
Liabilities:
Deposits		$	983,958				—				—				989,131				989,131
Securities sold under agreements
to repurchase		$	28,535				—				28,535				—				28,535
FHLB borrowings		$	70,000				—				—				69,929				69,929
Junior subordinated debentures		$	15,464				—				15,464				—				15,464

(Dollars in thousands)
						Fair Value Measurements at December 31, 2019
		Carrying Amount				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	52,387				52,387				—				—				52,387
Investment securities available for sale		$	195,746				—				195,496				250				195,746
Other investments		$	4,231				—				—				4,231				4,231
Mortgage loans held for sale		$	4,417				—				—				4,417				4,417
Loans, net		$	843,194				—				—				819,397				819,397
Cash surrender value of life insurance		$	16,319				—				16,319				—				16,319
Liabilities:
Deposits		$	966,517				—				—				955,766				955,766
Securities sold under agreements
to repurchase		$	24,221				—				24,221				—				24,221
Junior subordinated debentures		$	15,619				—				15,619				—				15,619

X

- Definition

Custom Element.

+ References

No definition available.

+ Details

Name:	PEBK_FairValueMeasurementsForImpairedLoansAndOtherRealEstate
Namespace Prefix:	PEBK_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

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 (c)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 http://asc.fasb.org/extlink&oid=121572278&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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration