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v3.22.1

Disclosures About Fair Value of Assets and Liabilities (Tables) | 3 Months Ended
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Mar. 31, 2022
Fair Value Disclosures [Abstract] |
Schedule of recurring fair value measurements consolidated balance sheets |
($ in thousands) |  | Fair value at March 31, 2022 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
U.S. Treasury and Government Agencies |  | $ | 8,408 |  |  | $ | - |  |  | $ | 8,408 |  |  | $ | - |
Mortgage-backed securities |  |  | 226,936 |  |  |  | - |  |  |  | 226,936 |  |  |  | - |
State and political subdivisions |  |  | 13,170 |  |  |  | - |  |  |  | 13,170 |  |  |  | - |
Other corporate securities |  |  | 16,797 |  |  |  | - |  |  |  | 16,797 |  |  |  | - |
Interest rate contracts - assets |  |  | 482 |  |  |  | - |  |  |  | 482 |  |  |  | - |
Interest rate contracts - liabilities |  |  | (482 | ) |  |  | - |  |  |  | (482 | ) |  |  | - |
Forward contracts |  |  | 281 |  |  |  | 281 |  |  |  | - |  |  |  | - |
IRLCs |  |  | (155 | ) |  |  | - |  |  |  | - |  |  |  | (155 | )
($ in thousands) |  | Fair value at December 31, 2021 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
U.S. Treasury and Government Agencies |  | $ | 9,105 |  |  | $ | - |  |  | $ | 9,105 |  |  | $ | - |
Mortgage-backed securities |  |  | 228,134 |  |  |  | - |  |  |  | 228,134 |  |  |  | - |
State and political subdivisions |  |  | 12,879 |  |  |  | - |  |  |  | 12,879 |  |  |  | - |
Other corporate securities |  |  | 13,141 |  |  |  | - |  |  |  | 13,141 |  |  |  | - |
Interest rate contracts - assets |  |  | 3,655 |  |  |  | - |  |  |  | 3,655 |  |  |  | - |
Interest rate contracts - liabilities |  |  | (3,655 | ) |  |  | - |  |  |  | (3,655 | ) |  |  | - |
Forward contracts |  |  | (32 | ) |  |  | (32 | ) |  |  | - |  |  |  | - |
IRLCs |  |  | 22 |  |  |  | - |  |  |  | - |  |  |  | 22 |
Schedule of recurring fair value measurements consolidated balance sheets |
|  | Three Months Ended March 31, |
($ in thousands) |  | 2022 |  |  | 2021 |
Interest Rate Lock Commitments |  |  |  |  |  |
Balance at beginning of period |  | $ | 22 |  |  | $ | 278 |
Total realized gains (losses) |  |  |  |  |  |  |  |
Change in fair value |  |  | (177 | ) |  |  | (692 | )
Balance at end of period |  | $ | (155 | ) |  | $ | (414 | )
Schedule of valuation inputs, mortgage servicing rights |
($ in thousands) |  | Fair value at March 31, 2022 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Impaired loans |  | $ | 819 |  |  | $ | - |  |  | $ | - |  |  | $ | 819 |
Mortgage servicing rights |  |  | 2,527 |  |  |  | - |  |  |  | - |  |  |  | 2,527 |
($ in thousands) |  | Fair value at December 31, 2021 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Impaired loans |  | $ | 464 |  |  | $ | - |  |  | $ | - |  |  | $ | 464 |
Mortgage servicing rights |  |  | 3,301 |  |  |  | - |  |  |  | - |  |  |  | 3,301 |
Schedule of unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements |
($ in thousands) |  | Fair value at March 31, 2022 |  |  | Valuation technique |  | Unobservable inputs |  | Range (weighted- average) |
Collateral-dependent impaired loans |  | $ | 819 |  |  | Market comparable properties |  | Comparability adjustments (%) |  |  | 11.5 - 18.2% (14 | %)
Mortgage servicing rights |  |  | 2,527 |  |  | Discounted cash flow |  | Discount Rate |  |  | 9.77 | %
|  |  |  |  |  |  |  | Constant prepayment rate |  |  | 7.57 | %
|  |  |  |  |  |  |  | P&I earnings credit |  |  | 0.46 | %
|  |  |  |  |  |  |  | T&I earnings credit |  |  | 1.90 | %
|  |  |  |  |  |  |  | Inflation for cost of servicing |  |  | 1.50 | %
IRLCs |  |  | (155 | ) |  | Discounted cash flow |  | Loan closing rates |  |  | 43% - 99 | %
($ in thousands) |  | Fair value at December 31, 2021 |  |  | Valuation technique |  | Unobservable inputs |  | Range (weighted- average) |
Collateral-dependent impaired loans |  | $ | 464 |  |  | Market comparable properties |  | Comparability adjustments (%) |  |  | 6.4 - 18% (13 | %)
Mortgage servicing rights |  |  | 3,301 |  |  | Discounted cash flow |  | Discount Rate |  |  | 8.65 | %
|  |  |  |  |  |  |  | Constant prepayment rate |  |  | 10.94 | %
|  |  |  |  |  |  |  | P&I earnings credit |  |  | 0.10 | %
|  |  |  |  |  |  |  | T&I earnings credit |  |  | 1.25 | %
|  |  |  |  |  |  |  | Inflation for cost of servicing |  |  | 1.50 | %
IRLCs |  |  | 22 |  |  | Discounted cash flow |  | Loan closing rates |  |  | 49% - 99 | %
Schedule of estimated fair values financial instruments |
($ in thousands) |  | Carrying |  |  | Fair |  |  | Fair value measurements using |
March 31, 2022 |  | amount |  |  | value |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 130,003 |  |  | $ | 130,003 |  |  | $ | 130,003 |  |  | $ | - |  |  | $ | - |
Interest bearing time deposits |  |  | 1,894 |  |  |  | 1,894 |  |  |  | - |  |  |  | 1,894 |  |  |  | - |
Loans held for sale |  |  | 4,737 |  |  |  | 4,700 |  |  |  | - |  |  |  | 4,700 |  |  |  | - |
Loans, net of allowance for loan losses |  |  | 836,866 |  |  |  | 839,070 |  |  |  | - |  |  |  | - |  |  |  | 839,070 |
Federal Reserve and FHLB Bank stock, at cost |  |  | 5,303 |  |  |  | 5,303 |  |  |  | - |  |  |  | 5,303 |  |  |  | - |
Interest receivable |  |  | 2,815 |  |  |  | 2,815 |  |  |  | - |  |  |  | 2,815 |  |  |  | - |
Mortgage servicing rights |  |  | 13,135 |  |  |  | 14,433 |  |  |  | - |  |  |  | - |  |  |  | 14,433 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,138,071 |  |  | $ | 1,136,257 |  |  | $ | 989,518 |  |  | $ | 146,739 |  |  | $ | - |
Short-term borrowings |  |  | 19,035 |  |  |  | 19,035 |  |  |  | - |  |  |  | 19,035 |  |  |  | - |
FHLB advances |  |  | 5,500 |  |  |  | 5,536 |  |  |  | - |  |  |  | 5,536 |  |  |  | - |
Trust preferred securities |  |  | 10,310 |  |  |  | 9,669 |  |  |  | - |  |  |  | 9,669 |  |  |  | - |
Subordinated debt, net of issuance costs |  |  | 19,558 |  |  |  | 21,218 |  |  |  | - |  |  |  | 21,218 |  |  |  | - |
Interest payable |  |  | 536 |  |  |  | 536 |  |  |  | - |  |  |  | 536 |  |  |  | - |
($ in thousands) |  | Carrying |  |  | Fair |  |  | Fair value measurements using |
December 31, 2021 |  | amount |  |  | value |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from banks |  | $ | 149,511 |  |  | $ | 149,511 |  |  | $ | 149,511 |  |  | $ | - |  |  | $ | - |
Interest bearing time deposits |  |  | 2,643 |  |  |  | 2,643 |  |  |  | - |  |  |  | 2,643 |  |  |  | - |
Loans held for sale |  |  | 7,472 |  |  |  | 7,561 |  |  |  | - |  |  |  | 7,561 |  |  |  | - |
Loans, net of allowance for loan losses |  |  | 808,909 |  |  |  | 813,766 |  |  |  | - |  |  |  | - |  |  |  | 813,766 |
Federal Reserve and FHLB Bank stock, at cost |  |  | 5,303 |  |  |  | 5,303 |  |  |  | - |  |  |  | 5,303 |  |  |  | - |
Interest receivable |  |  | 2,920 |  |  |  | 2,920 |  |  |  | - |  |  |  | 2,920 |  |  |  | - |
Mortgage servicing rights |  |  | 12,034 |  |  |  | 12,629 |  |  |  | - |  |  |  | - |  |  |  | 12,629 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 1,113,045 |  |  | $ | 1,112,710 |  |  | $ | 956,541 |  |  | $ | 156,169 |  |  | $ | - |
Short-term borrowings |  |  | 15,320 |  |  |  | 15,320 |  |  |  | - |  |  |  | 15,320 |  |  |  | - |
FHLB advances |  |  | 5,500 |  |  |  | 5,596 |  |  |  | - |  |  |  | 5,596 |  |  |  | - |
Trust preferred securities |  |  | 10,310 |  |  |  | 9,067 |  |  |  | - |  |  |  | 9,067 |  |  |  | - |
Subordinated debt, net of issuance costs |  |  | 19,546 |  |  |  | 20,581 |  |  |  | - |  |  |  | 20,581 |  |  |  | - |
Interest payable |  |  | 299 |  |  |  | 299 |  |  |  | - |  |  |  | 299 |  |  |  | - |

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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=123874694&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=123874694&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=123874694&loc=d3e19207-110258 + Details
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- Definition 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 -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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