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Fair Value (Tables)
9 Months Ended
Sep. 30, 2021
Fair Value  
Available for sale securities measured at fair value on a recurring basis
(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

September 30, 2021

 

 

 

Fair Value Measurements

 

 

Level 1

Valuation

 

 

Level 2

Valuation

 

 

Level 3

Valuation

 

U. S Treasuries

 

$7,990

 

 

 

-

 

 

$7,990

 

 

 

-

 

U.S. Government

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

sponsored enterprises

 

 

14,677

 

 

 

-

 

 

 

14,677

 

 

 

-

 

Mortgage-backed securities

 

 

223,305

 

 

 

-

 

 

 

223,305

 

 

 

-

 

State and political subdivisions

 

 

156,933

 

 

 

-

 

 

 

156,933

 

 

 

-

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

December 31, 2020

 

 

 

Fair Value Measurements

 

 

Level 1

Valuation

 

 

Level 2

Valuation

 

 

Level 3

Valuation

 

U.S. Government

 

 

 

 

 

 

 

 

 

 

 

 

sponsored enterprises

 

$7,507

 

 

 

-

 

 

 

7,507

 

 

 

-

 

Mortgage-backed securities

 

 

145,314

 

 

 

-

 

 

 

145,314

 

 

 

-

 

State and political subdivisions

 

 

92,428

 

 

 

-

 

 

 

92,428

 

 

 

-

 

Fair value measurements of investment securities available for sale using Level 3 significant unobservable inputs
(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2021

 

 

 

Fair Value Measurements

 

 

Level 1

Valuation

 

 

Level 2

Valuation

 

 

Level 3

Valuation

 

Mutual funds held in deferred compensation trust

 

$1,514

 

 

 

-

 

 

 

1,514

 

 

 

-

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2020

 

 

 

Fair Value Measurements

 

 

Level 1

Valuation

 

 

Level 2

Valuation

 

 

Level 3

Valuation

 

Mutual funds held in deferred compensation trust

 

$1,320

 

 

 

-

 

 

 

1,320

 

 

 

-

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements September 30, 2021

 

 

Level 1

Valuation

 

 

Level 2

Valuation

 

 

Level 3

Valuation

 

Mortgage loans held for sale

 

$9,086

 

 

 

-

 

 

 

-

 

 

 

9,086

 

Impaired loans

 

 

17,417

 

 

 

-

 

 

 

-

 

 

 

17,417

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements December 31, 2020

 

 

Level 1

Valuation

 

 

Level 2

Valuation

 

 

Level 3

Valuation

 

Mortgage loans held for sale

 

$9,139

 

 

 

-

 

 

 

-

 

 

 

9,139

 

Impaired loans

 

 

20,369

 

 

 

-

 

 

 

-

 

 

 

20,369

 

Other real estate

 

 

128

 

 

 

-

 

 

 

-

 

 

 

128

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

Fair Value

September 30,

2021

 

 

Fair Value

December 31,

2020

 

 

Valuation

Technique

 

Significant

Unobservable

Inputs

 

 

General Range of Significant Unobservable Input Values

 

Mortgage loans held for sale

 

$9,086

 

 

 

9,139

 

 

Rate lock commitment

 

 

N/A

 

 

 

N/A

 

Impaired loans

 

 

17,417

 

 

 

20,369

 

 

Appraised value and discounted cash flows

 

Discounts to reflect current market conditions and ultimate collectability

 

 

0-25

Other real estate

 

 

-

 

 

 

128

 

 

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 September 30, 2021

 

 

 

Carrying

Amount

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$263,308

 

 

 

263,308

 

 

 

-

 

 

 

-

 

 

 

263,308

 

Investment securities available for sale

 

 

402,905

 

 

 

-

 

 

 

402,905

 

 

 

-

 

 

 

402,905

 

Other investments

 

 

3,725

 

 

 

-

 

 

 

-

 

 

 

3,725

 

 

 

3,725

 

Mortgage loans held for sale

 

 

9,086

 

 

 

-

 

 

 

-

 

 

 

9,086

 

 

 

9,086

 

Loans, net

 

 

882,042

 

 

 

-

 

 

 

-

 

 

 

862,462

 

 

 

862,462

 

Mutual funds held in deferred

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

compensation trust

 

 

1,514

 

 

 

-

 

 

 

1,514

 

 

 

-

 

 

 

1,514

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$1,409,965

 

 

 

-

 

 

 

-

 

 

 

1,407,770

 

 

 

1,407,770

 

Securities sold under agreements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

to repurchase

 

 

32,332

 

 

 

-

 

 

 

32,332

 

 

 

-

 

 

 

32,332

 

Junior subordinated debentures

 

 

15,464

 

 

 

-

 

 

 

15,464

 

 

 

-

 

 

 

15,464

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2020

 

 

 

Carrying

Amount

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$161,580

 

 

 

161,580

 

 

 

-

 

 

 

-

 

 

 

161,580

 

Investment securities available for sale

 

 

245,249

 

 

 

-

 

 

 

245,249

 

 

 

-

 

 

 

245,249

 

Other investments

 

 

4,155

 

 

 

-

 

 

 

-

 

 

 

4,155

 

 

 

4,155

 

Mortgage loans held for sale

 

 

9,139

 

 

 

-

 

 

 

-

 

 

 

9,139

 

 

 

9,139

 

Loans, net

 

 

938,731

 

 

 

-

 

 

 

-

 

 

 

924,845

 

 

 

924,845

 

Mutual funds held in deferred

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

compensation trust

 

 

1,320

 

 

 

-

 

 

 

1,320

 

 

 

-

 

 

 

1,320

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$1,221,086

 

 

 

-

 

 

 

-

 

 

 

1,216,503

 

 

 

1,216,503

 

Securities sold under agreements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

to repurchase

 

 

26,201

 

 

 

-

 

 

 

26,201

 

 

 

-

 

 

 

26,201

 

Junior subordinated debentures

 

 

15,464

 

 

 

-

 

 

 

15,464

 

 

 

-

 

 

 

15,464