XML 50 R38.htm IDEA: XBRL DOCUMENT
v3.23.3

Disclosures about Fair Value Measurements and Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Disclosures about Fair Value Measurements and Financial Instruments |
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 September 30, 2023 and December 31, 2022, by level within the fair value hierarchy (in thousands).
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at September 30, 2023
​ |  | TOTAL |  | (LEVEL 1) |  | (LEVEL 2) |  | (LEVEL 3)
Equity securities (1) | ​ | $ | 492 | ​ | $ | 492 | ​ | $ | — | ​ | $ | —
Available for sale securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Agency | ​ |  | 10,195 | ​ |  | — | ​ |  | 10,195 | ​ |  | —
U.S. Agency mortgage-backed securities | ​ | ​ | 85,987 | ​ | ​ | — | ​ | ​ | 85,987 | ​ | ​ | —
Municipal | ​ |  | 18,359 | ​ |  | — | ​ |  | 18,359 | ​ |  | —
Corporate bonds | ​ |  | 54,511 | ​ |  | — | ​ |  | 54,511 | ​ |  | —
Interest rate swap asset (1) | ​ |  | 7,805 | ​ |  | — | ​ |  | 7,805 | ​ |  | —
Interest rate hedge (1) | ​ |  | 733 | ​ |  | — | ​ |  | 733 | ​ |  | —
Interest rate swap liability (2) | ​ |  | (7,863) | ​ |  | — | ​ |  | (7,863) | ​ |  | —
Risk participation agreement (2) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at December 31, 2022
​ |  | TOTAL |  | (LEVEL 1) |  | (LEVEL 2) |  | (LEVEL 3)
Equity securities (1) | ​ | $ | 502 | ​ | $ | 502 | ​ | $ | — | ​ | $ | —
Available for sale securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Agency | ​ |  | 10,533 | ​ |  | — | ​ |  | 10,533 | ​ |  | —
U.S. Agency mortgage-backed securities | ​ | ​ | 89,985 | ​ | ​ | — | ​ | ​ | 89,985 | ​ | ​ | —
Municipal | ​ |  | 19,038 | ​ |  | — | ​ |  | 19,038 | ​ |  | —
Corporate bonds | ​ |  | 59,952 | ​ |  | — | ​ |  | 59,952 | ​ |  | —
Interest rate swap asset (1) | ​ |  | 6,992 | ​ |  | — | ​ |  | 6,992 | ​ |  | —
Interest rate swap liability (2) | ​ |  | (6,872) | ​ |  | — | ​ |  | (6,872) | ​ |  | —
Risk participation agreement (2) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
(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
September 30, 2023 | ​ | TOTAL | ​ | (LEVEL 1) |  | (LEVEL 2) |  | (LEVEL 3)
Individually evaluated loans | ​ | $ | 2,792 | ​ | $ | — | ​ | $ | — | ​ | $ | 2,792
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements
December 31, 2022 |  | TOTAL |  | (LEVEL 1) |  | (LEVEL 2) |  | (LEVEL 3)
Impaired loans | ​ | $ | 1,583 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,583
Other real estate owned and repossessed assets | ​ |  | 39 | ​ |  | — | ​ |  | — | ​ |  | 39
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quantitative Information About Level 3 Fair Value Measurements |
​ | ​ | ​ | ​ | Valuation | ​ | Unobservable | ​ | ​ | ​
September 30, 2023 |  | Fair Value |  | Techniques |  | Input |  | Range (Wgtd Avg) |
Individually evaluated loans | ​ | $ | 2,792 |  | Appraisal of |  | Appraisal |  | 0% to 100% (0.03%) | ​
​ | ​ | ​ | ​ | ​ | collateral (1) | ​ | adjustments (2) | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quantitative Information About Level 3 Fair Value Measurements |
​ | ​ | ​ | ​ | Valuation | ​ | Unobservable | ​ | ​ | ​
December 31, 2022 |  | Fair Value |  | Techniques |  | Input |  | Range (Wgtd Avg) |
Impaired loans |  | $ | 1,583 |  | Appraisal of |  | Appraisal |  | 0% to 100% (0.2%) | ​
​ |  |  | ​ |  | collateral (1) |  | adjustments (2) |  | ​ | ​
Other real estate owned and repossessed assets |  |  | 39 |  | Appraisal of |  | Appraisal |  | 52% (52%) | ​
​ | ​ | ​ | ​ | ​ | collateral (1) | ​ | adjustments (2) | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Liquidation | ​ | 10% to 39% (11%) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | expenses | ​ | ​ | ​
(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.
Schedule of estimated fair value and recorded carrying value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2023
​ |  | Carrying |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | Value | ​ | ​ | Fair Value | ​ | ​ | (Level 1) | ​ | ​ | (Level 2) | ​ | ​ | (Level 3)
​ | ​ | ​ | (IN THOUSANDS)
FINANCIAL ASSETS: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Investment securities – HTM | ​ | $ | 60,283 | ​ | $ | 52,391 | ​ | $ | — | ​ | $ | 50,584 | ​ | $ | 1,807
Loans, net of allowance for credit losses and unearned income | ​ |  | 989,993 | ​ | ​ | 915,084 | ​ | ​ | — | ​ |  | — | ​ |  | 915,084
FINANCIAL LIABILITIES: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits with stated maturities | ​ | ​ | 314,843 | ​ | ​ | 313,143 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 313,143
All other borrowings (1) | ​ |  | 48,792 | ​ |  | 46,525 | ​ |  | — | ​ |  | — | ​ |  | 46,525
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ |  | Carrying | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Value | ​ |  | Fair Value | ​ |  | (Level 1) | ​ |  | (Level 2) | ​ |  | (Level 3)
​ | ​ | ​ | (IN THOUSANDS)
FINANCIAL ASSETS: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities – HTM | ​ | $ | 61,878 | ​ | $ | 55,192 | ​ | $ | — | ​ | $ | 52,323 | ​ | $ | 2,869
Loans held for sale | ​ |  | 59 | ​ | ​ | 57 | ​ | ​ | 57 | ​ |  | — | ​ |  | —
Loans, net of allowance for credit losses and unearned income | ​ |  | 980,023 | ​ | ​ | 938,188 | ​ | ​ | — | ​ |  | — | ​ |  | 938,188
FINANCIAL LIABILITIES: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits with stated maturities | ​ | ​ | 286,004 | ​ | ​ | 281,297 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 281,297
All other borrowings (1) | ​ |  | 46,409 | ​ |  | 44,759 | ​ |  | — | ​ |  | — | ​ |  | 44,759
(1) | All other borrowings include advances from Federal Home Loan Bank and subordinated debt.

X
- 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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration