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Fair Value (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value

Schdule of Measured At Fair Value On A Recurring Basis

(Dollars in thousands)
		June 30, 2023
		Fair Value				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
U.S. Treasuries		$	9,894				-				9,894				-
U.S. Government
sponsored enterprises			11,020				-				11,020				-
Mortgage-backed securities			269,720				-				269,720				-
State and political subdivisions			103,450				-				103,450				-
Mutual funds held in deferred compensation trust			1,804				-				1,804

(Dollars in thousands)
		December 31, 2022
		Fair Value				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
U.S. Treasuries		$	9,814				-				9,814				-
U.S. Government
sponsored enterprises			11,539				-				11,539				-
Mortgage-backed securities			273,838				-				273,838				-
State and political subdivisions			150,203				-				150,203				-
Mutual funds held in deferred compensation trust			1,327				-				1,327

Summary of Fair Value Measurements Of Mortgage loans held for sale

(Dollars in thousands)
		Fair Value Measurements June 30, 2023				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage loans held for sale		$	1,560				-				-				1,560
Individually evaluated loans			-				-				-				-

(Dollars in thousands)
		Fair Value Measurements December 31, 2022				Level 1 Valuation				Level 2 Valuation				Level 3 Valuation
Mortgage loans held for sale		$	211				-				-				211
Impaired loans			14,694				-				-				14,694

(Dollars in thousands)

Fair Value June 30, 2023

Fair Value December 31, 2022

Valuation Technique

Significant Unobservable Inputs

General Range of Significant Unobservable Input Values

Mortgage loans held for sale

$

1,560

211

Rate lock commitment

N/A

N/A

Individually evaluated loans

-

14,694

Appraised value and discounted cash flows

Discounts to reflect current market conditions and ultimate collectability

0 - 25

%

Summary of Carrying Amount And Estimated Fair Value Of The Company's Financial Instruments

(Dollars in thousands)
						Fair Value Measurements at June 30, 2023
		Carrying Amount				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	89,041				89,041				-				-				89,041
Investment securities available for sale			394,084				-				394,084				-				394,084
Other investments			2,602				-				-				2,602				2,602
Mortgage loans held for sale			1,560				-				-				1,560				1,560
Loans, net			1,047,935				-				-				1,030,032				1,030,032
Mutual funds held in deferred
compensation trust			1,804				-				1,804				-				1,804
Liabilities:
Deposits		$	1,369,524				-				-				1,372,295				1,372,295
Securities sold under agreements
to repurchase			93,172				-				93,172				-				93,172
Junior subordinated debentures			15,464				-				15,464				-				15,464

(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

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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
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-11

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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
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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