XML 60 R48.htm IDEA: XBRL DOCUMENT

DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2021

DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS

Schedule of assets and liabilities measured and recorded at fair value on a recurring basis

The following table presents the assets and liabilities measured and reported on the Consolidated Balance Sheets on a recurring basis at their fair value as of December 31, 2021 and 2020, by level within the fair value hierarchy (in thousands).

FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2021 USING

TOTAL

(LEVEL 1)

(LEVEL 2)

(LEVEL 3)

Equity securities (1)

$

526

$

526

$

—

$

—

Available for sale securities:

U.S. Agency

7,387

—

7,387

—

U.S. Agency mortgage-backed securities

80,167

—

80,167

—

Municipal

20,892

—

20,892

—

Corporate bonds

54,725

—

54,725

—

Interest rate swap asset (1)

1,226

—

1,226

—

Interest rate swap liability (2)

(1,226)

—

(1,226)

—

Risk participation agreement (2)

—

—

—

—


		FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2020 USING
		TOTAL			(LEVEL 1)			(LEVEL 2)			(LEVEL 3)
Equity securities (1)		$	443		$	443		$	—		$	—
Available for sale securities:
U.S. Agency			3,152			—			3,152			—
U.S. Agency mortgage-backed securities			67,913			—			67,913			—
Municipal			20,348			—			20,348			—
Corporate bonds			52,752			—			52,752			—
Interest rate swap asset (1)			3,320			—			3,320			—
Interest rate swap liability (2)			(3,320)			—			(3,320)			—

(1)	Included within other assets on the Consolidated Balance Sheets.

(2)	Included within other liabilities on the Consolidated Balance Sheets.

Schedule of assets measured and recorded at fair value on a non-recurring basis

Assets measured and recorded at fair value on a non-recurring basis are summarized below (in thousands, except range data):

FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2021 USING

TOTAL

(LEVEL 1)

(LEVEL 2)

(LEVEL 3)

Impaired loans

$

—

$

—

$

—

$

—


		FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2020 USING
		TOTAL			(LEVEL 1)			(LEVEL 2)			(LEVEL 3)
Impaired loans		$	258		$	—		$	—		$	258


		Quantitative Information About Level 3 Fair Value Measurements
					Valuation		Unobservable
December 31, 2021		Fair Value			Techniques		Input		Range (Wgtd Avg)
Impaired loans		$	—		Appraisal of		Appraisal		100% (100%)
					collateral (1)		adjustments(2)


		Quantitative Information About Level 3 Fair Value Measurements
					Valuation		Unobservable
December 31, 2020		Fair Value			Techniques		Input		Range (Wgtd Avg)
Impaired loans		$	258		Appraisal of		Appraisal		0% to 100% (3%)
					collateral (1)		adjustments(2)

(1)	Fair Value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. Also includes qualitative adjustments by management and estimated liquidation expenses.

(2)	Appraisals may be adjusted by management for qualitative factors such as economic conditions.