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Fair Value (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value [Abstract]

Assets And Liabilities Measured At Fair Value On A Recurring Basis, Including Financial Assets And Liabilities

	Fair Value Measurements at ‎ September 30, 2021 using Significant ‎Other Observable Inputs
	(Level 2)
	(unaudited)
Financial Assets:
Securities available for sale:
Corporate debt	$	9,976
Issued by U.S. government-sponsored entities and agencies:
U.S. Treasury		7,110
Mortgage-backed securities - residential		42
Total securities available for sale	$	17,128
Loans held for sale	$	77,946
Derivative assets	$	726
Interest rate lock commitments	$	519
TBA Mortgage-back securities	$	379
Financial Liabilities:
Derivative liabilities	$	726

	Fair Value Measurements at December 31, 2020 using Significant Other Observable Inputs
	(Level 2)
Financial Assets:
Securities available for sale:
Issued by U.S. government-sponsored entities and agencies:
U.S. Treasury	$	8,636
Mortgage-backed securities - residential		65
Total securities available for sale	$	8,701
Loans held for sale	$	283,165
Derivative assets	$	1,944
Interest rate lock commitments	$	18,101
Financial Liabilities:
Derivative liabilities	$	1,944
TBA Mortgage-backed securities	$	2,690

Assets Measured At Fair Value On A Non-Recurring Basis

Fair Value Measurements at December 31, 2020 Using
Significant Unobservable Inputs (Level 3)
Impaired loans:
Commercial	$	190
Total impaired loans	$	190

Financial Instruments Measured At Fair Value On A Non-Recurring Basis

		Fair Value		Valuation Technique(s)		Unobservable Inputs		(Range) Weighted Average
Impaired loans:
Commercial	$	190		Comparable sales approach		Adjustment for differences between the comparable market transactions		65.00%

Aggregate Fair Value, Contractual Balance And Gain Or Loss

	September 30, 2021			December 31, 2020
	(unaudited)
Aggregate fair value	$	77,946		$	283,165
Contractual balance		77,023			274,401
Gain	$	923		$	8,764

Total Amount Of Gains And Losses From Changes In Fair Value Included In Earnings

	Three months ended September 30,						Nine months ended September 30,
	2021			2020			2021			2020
	(unaudited)						(unaudited)
Interest income	$	1,008		$	1,467		$	5,347		$	3,920
Interest expense		-			-			-			-
Change in fair value		(1,916)			4,669			(7,841)			9,124
Total change in fair value	$	(908)		$	6,136		$	(2,494)		$	13,044

Carrying Amounts And Estimated Fair Values Of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at September 30, 2021 were as follows:

	Fair Value Measurements at September 30, 2021 Using:
	Carrying
(unaudited)	Value			Level 1			Level 2			Level 3			Total
Financial assets
Cash and cash equivalents	$	68,161		$	68,161		$	-		$	-		$	68,161
Interest-bearing deposits in other financial institutions		100			100			-			-			100
Securities available for sale		17,128			-			17,128			-			17,128
Equity Securities		5,000			-			5,000			-			5,000
Loans held for sale		77,946			-			77,946			-			77,946
Loans and leases, net		1,123,712			-			-			1,133,907			1,133,907
FHLB and FRB stock		6,475			n/a			n/a			n/a			n/a
Accrued interest receivable		4,531			1			207			4,322			4,530
Derivative assets		726			-			726			-			726
Interest rate lock commitments		519			-			519			-			519
TBA mortgage-back securities		379			-			379			-			379
Financial liabilities
Deposits	$	(1,156,790)		$	(600,725)		$	(559,307)		$	-		$	(1,160,032)
FHLB advances and other borrowings		(41,218)			-			(41,965)			-			(41,965)
Advances by borrowers for taxes and insurance		(1,756)			-			-			(1,756)			(1,756)
Subordinated debentures		(14,874)			-			(16,171)			-			(16,171)
Accrued interest payable		(539)			-			(539)			-			(539)
Derivative liabilities		(726)			-			(726)			-			(726)

The carrying amounts and estimated fair values of financial instruments at December 31, 2020 were as follows:

	Fair Value Measurements at December 31, 2020 Using:
	Carrying
	Value			Level 1			Level 2			Level 3			Total
Financial assets
Cash and cash equivalents	$	221,594		$	221,594		$	-		$	-		$	221,594
Interest-bearing deposits in other financial institutions		100			100			-			-			100
Securities available for sale		8,701			-			8,701			-			8,701
Equity Securities		5,000			-			-			5,000			5,000
Loans held for sale		283,165			-			283,165			-			283,165
Loans and leases, net		895,344			-			-			905,030			905,030
FHLB and FRB stock		5,847			n/a			n/a			n/a			n/a
Accrued interest receivable		4,584			1			36			4,547			4,584
Derivative assets		1,944			-			1,944			-			1,944
Interest rate lock commitments		18,101			-			18,101			-			18,101
Financial liabilities
Deposits	$	(1,113,070)		$	(554,650)		$	(565,089)		$	-		$	(1,119,739)
FHLB advances and other borrowings		(214,426)			-			(215,531)			-			(215,531)
Advances by borrowers for taxes and insurance		(1,029)			-			-			(1,029)			(1,029)
Subordinated debentures		(14,844)			-			(16,325)			-			(16,325)
Accrued interest payable		(498)			-			(498)			-			(498)
Derivative liabilities		(1,944)			-			(1,944)			-			(1,944)
TBA mortgage-backed securities		(2,690)			-			(2,690)			-			(2,690)

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity.

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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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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).

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