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Disclosures about Fair Value of Financial Instruments and Other Assets and Liabilities (Tables)
12 Months Ended
Dec. 31, 2022
Disclosures about Fair Value of Financial Instruments and Other Assets and Liabilities  
Schedule of fair value measurements of assets recognized in consolidated balance sheets measured at fair value on recurring basis

December 31, 2022

Fair Value Measurements Using

    

    

Quoted Prices in

    

Significant

    

Active Markets

Other

Significant

for Identical

Observable

Unobservable

Fair

Assets

Inputs

Inputs

Value

(Level 1)

(Level 2)

(Level 3)

(In thousands)

U.S government agencies

$

44,032

$

$

44,032

$

Subordinated notes

28,094

28,094

State and municipal obligation

145,498

 

145,498

 

December 31, 2021

Fair Value Measurements Using

    

    

Quoted Prices in

    

Significant

    

Active Markets

Other

Significant

for Identical

Observable

Unobservable

Fair

Assets

Inputs

Inputs

Value

(Level 1)

(Level 2)

(Level 3)

(In thousands)

Subordinated notes

$

28,765

$

$

28,765

$

State and municipal obligations

117,548

 

117,548

 

Schedule of fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a non-recurring basis

December 31, 2022

Fair Value Measurements Using

    

    

Quoted Prices in

    

Significant

    

Active Markets

Other

Significant

for Identical

Observable

Unobservable

Fair

Assets

Inputs

Inputs

Value

(Level 1)

(Level 2)

(Level 3)

(In thousands)

Collateral dependent impaired loans

$

9

$

$

$

9

Foreclosed assets held for sale

 

3,519

 

 

 

3,519

December 31, 2021

Fair Value Measurements Using

    

    

Quoted Prices in

    

Significant

    

Active Markets

Other

Significant

for Identical

Observable

Unobservable

Fair

Assets

Inputs

Inputs

Value

(Level 1)

(Level 2)

(Level 3)

(In thousands)

Collateral dependent impaired loans

$

2,822

$

$

$

2,822

Foreclosed assets held for sale

 

 

 

 

Schedule of information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements

    

Fair Value at

    

Valuation

    

    

12/31/22

Technique

Unobservable Inputs

Range

(In thousands)

Collateral-dependent impaired loans

$

9

 

Market comparable properties

 

Comparability adjustments

 

5% – 10%

Foreclosed assets held for sale

 

3,519

 

Market comparable properties

 

Marketability discount

 

10% – 35%

    

Fair Value at

    

Valuation

    

    

12/31/21

Technique

Unobservable Inputs

Range

(In thousands)

Collateral-dependent impaired loans

$

2,822

 

Market comparable properties

 

Comparability adjustments

 

5% – 10%

Foreclosed assets held for sale

 

 

Market comparable properties

 

Marketability discount

 

10% – 35%

Schedule of estimated fair values of company's financial instruments

Fair Value Measurements Using

    

    

Quoted Prices

    

    

in Active

Markets for

Significant

Significant

Identical

Other

Unobservable

Carrying

Assets

Observable Inputs

Inputs

Amount

(Level 1)

(Level 2)

(Level 3)

(In thousands)

December 31, 2022

Financial assets

 

  

 

  

 

  

 

  

Cash and cash equivalents

$

30,080

$

30,080

$

$

Loans, net of allowance

 

458,823

 

 

 

444,704

Federal Home Loan Bank stock

 

2,499

 

 

2,499

 

Accrued interest receivable

 

3,403

 

 

3,403

 

 

 

  

 

 

  

Financial liabilities

 

 

  

 

 

  

Deposits

$

649,913

$

$

646,455

$

Securities sold under repurchase agreements

 

18,106

 

 

18,106

 

Subordinated debentures

 

23,726

 

 

24,454

 

Interest payable

 

304

 

 

304

 

Fair Value Measurements Using

    

    

Quoted Prices

    

    

in Active

Significant

Markets for

Other

Significant

Identical

Observable

Unobservable

Carrying

Assets

Inputs

Inputs

Amount

(Level 1)

(Level 2)

(Level 3)

(In thousands)

December 31, 2021

Financial assets

 

  

 

  

 

  

 

  

Cash and cash equivalents

$

82,999

$

82,999

$

$

Loans, net of allowance

 

450,699

 

 

 

459,031

Federal Home Loan Bank stock

 

3,704

 

 

3,704

 

Accrued interest receivable

 

2,345

 

 

2,345

 

 

 

  

 

 

  

Financial liabilities

 

 

  

 

 

  

Deposits

$

605,136

$

$

605,855

$

Securities sold under repurchase agreements

 

15,701

 

 

15,701

 

Subordinated debentures

 

23,665

 

 

23,575

 

Interest payable

 

180

 

 

180