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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Assets Measured On Recurring Basis

				Carrying Value at June 30, 2022 (in thousands)
				Quoted Prices			Significant			Significant
				in Active			Other			Unobservable
		Balance as of		Markets for			Observable			Inputs
		June 30,		Identical Assets			Inputs			(Level 3)
Description		2022		(Level 1)			(Level 2)
US Treasuries	$	4,763		$	—		$	4,763		$	—
US agency obligations		64,402			—			64,402			—
Mortgage-backed securities		74,987			—			74,987			—
Municipals		41,013			—			41,013			—
Corporates		16,264			—			16,264			—
Total available-for-sale securities	$	201,429		$	—		$	201,429		$	—
IRLCs - asset		118			—			—			118
Forward sales commitments - asset		59			—			—			59
Total assets at fair value	$	201,606		$	—		$	201,429		$	177

				Carrying Value at December 31, 2021 (in thousands)
				Quoted Prices			Significant			Significant
				in Active			Other			Unobservable
	Balance as of			Markets for			Observable			Inputs
	December 31,			Identical Assets			Inputs			(Level 3)
Description	2021			(Level 1)			(Level 2)
US Treasuries	$	2,002		$	—		$	2,002		$	—
US agency obligations		58,470			—			58,470			—
Mortgage-backed securities		37,438			—			37,438			—
Municipals		50,204			—			50,204			—
Corporates		13,153			—			13,153			—
Total available-for-sale securities	$	161,267		$	—		$	161,267		$	—
IRLCs – asset		144			—			—			144
Total assets at fair value	$	161,411		$	—		$	161,267		$	144

Impaired Loans And Other Real Estate Owned Measured At Fair Value On A Nonrecurring Basis

				Carrying Value at June 30, 2022
Description	Balance as of June 30, 2022			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Impaired loans*	$	1,371		$	—		$	—		$	1,371
Other real estate owned		761			—			—			761

* Includes loans charged down to the net realizable value of the collateral.

				Carrying Value at December 31, 2021
Description	Balance as of December 31, 2021			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Impaired loans*	$	1,802		$	—		$	—		$	1,802
Other real estate owned		761			—			—			761

* Includes loans charged down to the net realizable value of the collateral.

Fair Value Carrying And Notional Amounts

				Fair Value Measurements at June 30, 2022 using
				Quoted Prices			Significant
				in Active			Other			Significant
				Markets for			Observable			Unobservable
	Carrying			Identical Assets			Inputs			Inputs
Assets	Amounts			(Level 1)			(Level 2)			(Level 3)			Balance
Cash and due from banks	$	34,249		$	34,249		$	—		$	—		$	34,249
Fed funds sold		40,605			40,605			—			—			40,605
Securities
Available-for-sale		201,429			—			201,429			—			201,429
Held-to-maturity		3,647			—			3,361			—			3,361
Restricted stock		1,387						1,387			—			1,387
Loans, net (1)		607,322			—			-			582,406			582,406
Loans held for sale		4,460			—			4,460			—			4,460
Interest receivable		2,315			—			2,315			—			2,315
BOLI		19,010			—			19,010			—			19,010
Derivatives – IRLCs		118			—			—			118			118
Derivatives – Forward sales commitments		59			—			—			59			59
Liabilities
Deposits	$	875,346		$	—		$	875,744		$	—		$	875,744
Capital notes		10,035			—			—			9,869			9,869
Other borrowings		10,721						—			10,743			10,743
Interest payable		37			—			37			—			37

				Fair Value Measurements at December 31, 2021 using
				Quoted Prices			Significant
				in Active			Other			Significant
				Markets for			Observable			Unobservable
	Carrying			Identical Assets			Inputs			Inputs
Assets	Amounts			(Level 1)			(Level 2)			(Level 3)			Balance
Cash and due from banks	$	29,337		$	29,337		$	—		$	—		$	29,337
Fed funds sold		153,816			153,816			—			—			153,816
Securities
Available-for-sale		161,267			—			161,267			—			161,267
Held-to-maturity		3,655			—			4,006			—			4,006
Restricted stock		1,324			—			1,324			—			1,324
Loans, net (1)		576,469			—			—			565,543			565,543
Loans held for sale		1,628			—			1,628			—			1,628
Interest receivable		2,064			—			2,064			—			2,064
BOLI		18,785			—			18,785			—			18,785
Derivatives		144			—			—			144			144
Liabilities
Deposits	$	887,056		$	—		$	887,955		$	—		$	887,955
Capital notes		10,031			—			—			10,712			10,712
Other borrowings		10,985			—			—			11,467			11,467
Interest payable		46			—			46			—			46

(1) Carrying amount is net of unearned income and the Allowance.

  

Fair Value, Recurring [Member]

Information Regarding Quantitative Inputs Used To Value Assets Classified As Level 3

	Quantitative information about Level 3 Fair Value Measurements for June 30, 2022
	(dollars in thousands)
	Fair Value			Valuation Technique(s)		Unobservable Input		Range (Weighted Average) (1)
Assets
IRLCs – asset	$	118		Market approach		Range of pull through rate		70% - 100% (85%)
Forward Sales Commitments – asset		59		Market approach		Range of pull through rate		70% - 100% (85%)

(1)    Weighted based on the relative value of the instruments

	Quantitative information about Level 3 Fair Value Measurements for December 31, 2021
	(dollars in thousands)
	Fair Value			Valuation Technique(s)		Unobservable Input		Range (Weighted Average) (1)
Assets
IRLCs - asset	$	144		Market approach		Range of pull through rate		70% - 100% (85%)

(1)    Weighted based on the relative value of the instruments

Fair Value, Nonrecurring [Member]

Information Regarding Quantitative Inputs Used To Value Assets Classified As Level 3

	Quantitative information about Level 3 Fair Value Measurements for June 30, 2022
	(dollars in thousands)
	Fair Value			Valuation Technique(s)		Unobservable Input		Range (Weighted Average) (1)
Assets
Impaired loans	$	1,371		Discounted appraised value		Selling cost		0% - 10% (8%)
						Discount for lack of marketability and age of appraisal		0% - 20% (6%)
OREO		761		Discounted appraised value		Selling cost		10%
						Discount for lack of marketability and age of appraisal		0% - 25% (15%)

(1)Weighted based on the relative value of the instruments.

‎

Note 5 – Fair Value Measurements (continued)

	Quantitative information about Level 3 Fair Value Measurements for December 31, 2021
	(dollars in thousands)
	Fair Value			Valuation Technique(s)		Unobservable Input		Range (Weighted Average) (1)
Assets
Impaired loans	$	1,802		Discounted appraised value		Selling cost		0% - 10% (8%)
						Discount for lack of marketability and age of appraisal		0% - 20% (6%)
OREO		761		Discounted appraised value		Selling cost		10%
						Discount for lack of marketability and age of appraisal		0% - 27% (26%)

(1)Weighted based on the relative value of the instruments.

X

- 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 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

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