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v3.20.2

Fair Value of Assets and Liabilities (Tables) | 9 Months Ended
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Sep. 30, 2020
Fair Value Disclosures [Abstract] |
Schedule of fair value measurements of securities measured at fair value on a recurring basis |
($ in thousands) |  | Fair Values at 09/30/2020 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
U.S. Treasury and Government Agencies |  | $ | 6,867 |  |  | $ | - |  |  | $ | 6,867 |  |  | $ | - |
Mortgage-backed securities |  |  | 109,193 |  |  |  | - |  |  |  | 109,193 |  |  |  | - |
State and political subdivisions |  |  | 11,755 |  |  |  | - |  |  |  | 11,755 |  |  |  | - |
Other corporate securities |  |  | 2,500 |  |  |  | - |  |  |  | 2,500 |  |  |  | - |
Interest rate contracts - assets |  |  | 9,169 |  |  |  | - |  |  |  | 9,169 |  |  |  | - |
Interest rate contracts - liabilities |  |  | (9,169 | ) |  |  | - |  |  |  | (9,169 | ) |  |  | - |
Forward contracts |  |  | (197 | ) |  |  | (197 | ) |  |  | - |  |  |  | - |
IRLCs |  |  | 290 |  |  |  | - |  |  |  | - |  |  |  | 290 |
($ in thousands) |  | Fair Values at 12/31/2019 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
U.S. Treasury and Government Agencies |  | $ | 12,202 |  |  | $ | - |  |  | $ | 12,202 |  |  | $ | - |
Mortgage-backed securities |  |  | 78,182 |  |  |  | - |  |  |  | 78,182 |  |  |  | - |
State and political subdivisions |  |  | 10,564 |  |  |  | - |  |  |  | 10,564 |  |  |  | - |
Interest rate contracts - assets |  |  | 2,846 |  |  |  | - |  |  |  | 2,846 |  |  |  | - |
Interest rate contracts - liabilities |  |  | (2,846 | ) |  |  | - |  |  |  | (2,846 | ) |  |  | - |
Forward contracts |  |  | (32 | ) |  |  | (32 | ) |  |  | - |  |  |  | - |
IRLCs |  |  | 55 |  |  |  | - |  |  |  | - |  |  |  | 55 |
Schedule of fair value measurements of assets measured at fair value on a nonrecurring basis |
($ in thousands) |  | Fair values at 09/30/2020 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Impaired loans |  | $ | 3,604 |  |  | $ | - |  |  | $ | - |  |  | $ | 3,604 |
Mortgage servicing rights |  |  | 8,535 |  |  |  | - |  |  |  | - |  |  |  | 8,535 |
IRLCs |  |  | 290 |  |  |  | - |  |  |  | - |  |  |  | 290 |
($ in thousands) |  | Fair values at 12/31/2019 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Impaired loans |  | $ | 2,527 |  |  | $ | - |  |  | $ | - |  |  | $ | 2,527 |
Mortgage servicing rights |  |  | 5,084 |  |  |  | - |  |  |  | - |  |  |  | 5,084 |
IRLCs |  |  | 55 |  |  |  | - |  |  |  | - |  |  |  | 55 |
Schedule of quantitative information about unobservable inputs used in recurring and nonrecurring |
|  | Fair value at |  |  |  |  |  |  | Range (weighted- |
($ in thousands) |  | 9/30/2020 |  |  | Valuation technique |  | Unobservable inputs |  | average) |
Collateral-dependent impaired loans |  | $ | 3,604 |  |  | Market comparable properties |  | Comparability adjustments (%) |  |  | 0 - 30% (21%) |
Mortgage servicing rights |  |  | 8,535 |  |  | Discounted cash flow |  | Discount Rate |  |  | 8.44 | %
|  |  |  |  |  |  |  | Constant prepayment rate |  |  | 18.42 | %
IRLCs |  |  | 290 |  |  | Discounted cash flow |  | P&I earnings credit |  |  | 0.15 | %
|  |  |  |  |  |  |  | T&I earnings credit |  |  | 0.22 | %
|  |  |  |  |  |  |  | Inflation for cost of servicing |  |  | 1.50 | %
|  | Fair Value at |  |  |  |  |  |  | Range (weighted- |
($ in thousands) |  | 12/31/2019 |  |  | Valuation technique |  | Unobservable inputs |  | average) |
Collateral-dependent impaired loans |  | $ | 2,527 |  |  | Market comparable properties |  | Comparability adjustments (%) |  |  | 2 - 62% (28%) |
Mortgage servicing rights |  |  | 5,084 |  |  | Discounted cash flow |  | Discount Rate |  |  | 9.36 | %
|  |  |  |  |  |  |  | Constant prepayment rate |  |  | 10.19 | %
IRLCs |  |  | 55 |  |  | Discounted cash flow |  | P&I earnings credit |  |  | 1.78 | %
|  |  |  |  |  |  |  | T&I earnings credit |  |  | 1.93 | %
|  |  |  |  |  |  |  | Inflation for cost of servicing |  |  | 1.50 | %
Schedule of estimated fair values of company's financial instruments |
($ in thousands) |  | Carrying |  |  |  |  |  | Fair value measurements using |
September 30, 2020 |  | amount |  |  | Fair value |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 94,641 |  |  | $ | 94,641 |  |  | $ | 94,641 |  |  | $ | - |  |  | $ | - |
Interest bearing time deposits |  |  | 8,956 |  |  |  | 8,956 |  |  |  | 8,956 |  |  |  | - |  |  |  | - |
Loans held for sale |  |  | 13,943 |  |  |  | 14,507 |  |  |  | - |  |  |  | 14,507 |  |  |  | - |
Loans, net of allowance for loan losses |  |  | 874,057 |  |  |  | 866,131 |  |  |  | - |  |  |  | - |  |  |  | 866,131 |
Federal Reserve and FHLB Bank stock, at cost |  |  | 5,303 |  |  |  | 5,303 |  |  |  | - |  |  |  | 5,303 |  |  |  | - |
Interest receivable |  |  | 4,159 |  |  |  | 4,159 |  |  |  | - |  |  |  | 4,159 |  |  |  | - |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,014,015 |  |  | $ | 1,016,552 |  |  | $ | 763,587 |  |  | $ | 252,965 |  |  | $ | - |
Short term borrowings |  |  | 20,710 |  |  |  | 20,710 |  |  |  | - |  |  |  | 20,710 |  |  |  | - |
FHLB advances |  |  | 8,000 |  |  |  | 8,316 |  |  |  | - |  |  |  | 8,316 |  |  |  | - |
Trust preferred securities |  |  | 10,310 |  |  |  | 8,261 |  |  |  | - |  |  |  | 8,261 |  |  |  | - |
Interest payable |  |  | 946 |  |  |  | 946 |  |  |  | - |  |  |  | 946 |  |  |  | - |
($ in thousands) |  | Carrying |  |  |  |  |  | Fair value measurements using |
December 31, 2019 |  | amount |  |  | Fair value |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 27,064 |  |  | $ | 27,064 |  |  | $ | 27,064 |  |  | $ | - |  |  | $ | - |
Loans held for sale |  |  | 7,258 |  |  |  | 7,419 |  |  |  | - |  |  |  | 7,419 |  |  |  | - |
Loans, net of allowance for loan losses |  |  | 816,755 |  |  |  | 804,808 |  |  |  | - |  |  |  | - |  |  |  | 804,808 |
Federal Reserve and FHLB Bank stock, at cost |  |  | 4,648 |  |  |  | 4,648 |  |  |  | - |  |  |  | 4,648 |  |  |  | - |
Interest receivable |  |  | 3,106 |  |  |  | 3,106 |  |  |  | - |  |  |  | 3,106 |  |  |  | - |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 840,219 |  |  | $ | 840,272 |  |  | $ | 582,466 |  |  | $ | 257,806 |  |  | $ | - |
Repurchase agreements |  |  | 12,945 |  |  |  | 12,945 |  |  |  | - |  |  |  | 12,945 |  |  |  | - |
FHLB advances |  |  | 16,000 |  |  |  | 16,149 |  |  |  | - |  |  |  | 16,149 |  |  |  | - |
Trust preferred securities |  |  | 10,310 |  |  |  | 9,201 |  |  |  | - |  |  |  | 9,201 |  |  |  | - |
Interest payable |  |  | 1,191 |  |  |  | 1,191 |  |  |  | - |  |  |  | 1,191 |  |  |  | - |

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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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition 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). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: 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
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef -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://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
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