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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value of Financial Instruments

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

(Dollars in thousands)
						Fair Value Measurements at December 31, 2022
		Carrying Amount				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	71,596				71,596				-				-				71,596
Investment securities available for sale			445,394				-				445,394				-				445,394
Other investments			2,656				-				-				2,656				2,656
Mortgage loans held for sale			211				-				-				211				211
Loans, net			1,022,114				-				-				998,587				998,587
Mutual funds held in deferred compensation trust			1,327				-				1,327				-				1,327
Liabilities:
Deposits		$	1,435,215				-				-				1,434,871				1,434,871
Securities sold under agreements to repurchase			47,688				-				47,688				-				47,688
Junior subordinated debentures			15,464				-				15,464				-				15,464

(Dollars in thousands)
						Fair Value Measurements at December 31, 2021
		Carrying Amount				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	277,499				277,499				-				-				277,499
Investment securities available for sale			406,549				-				406,549				-				406,549
Other investments			3,668				-				-				3,668				3,668
Mortgage loans held for sale			3,637				-				-				3,637				3,637
Loans, net			875,514				-				-				855,814				855,814
Mutual funds held in deferred compensation trust			1,510				-				1,510				-				1,510
Liabilities:
Deposits		$	1,412,748				-				-				1,401,833				1,401,833
Securities sold under agreements to repurchase			37,094				-				37,094				-				37,094
Junior subordinated debentures			15,464				-				15,464				-				15,464

summary of present the balance of mutual funds

(Dollars in thousands)
		December 31, 2022
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mutual funds held in deferred compensation trust		$	1,327				-				1,327				-

(Dollars in thousands)
		December 31, 2021
		Fair Value Measurements				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mutual funds held in deferred compensation trust		$	1,510				-				1,510				-

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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

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