Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value of Assets and Liabilities [Abstract]

Fair Value, Assets Measured on Recurring Basis

	Fair Value Measurement Using
	Reporting Date
Description	Total		Level 1		Level 2		Level 3
March 31, 2022	(In thousands)
ASSETS
Available for Sale:
U.S. Treasury securities	$	20,218	$	-	$	20,218	$	-
U.S. Government agencies		14,981				14,981
States and political subdivisions		149,998		-		149,998		-
Mortgage-backed securities-government
sponsored entities		249,727		-		249,727		-
Interest rate derivatives		831		-		831		-
LIABILITIES
Interest rate derivatives		831		-		831		-
Description	Total		Level 1		Level 2		Level 3
December 31, 2021	(In thousands)
ASSETS
Available for Sale:
U.S. Treasury securities	$	19,351	$		$	19,351	$
U.S. Government agencies		16,011		-		16,011		-
States and political subdivisions		145,867				145,867
Corporate obligations		-		-		-		-
Mortgage-backed securities-government
sponsored entities		225,553		-		225,553		-
Interest rate derivatives		235		-		235		-
LIABILITIES
Interest rate derivatives		235		-		235		-

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

			Fair Value Measurement Using Reporting Date
(In thousands)
Description	Total		Level 1		Level 2		Level 3
March 31, 2022
Impaired Loans	$	1,659	$	-	$	-	$	1,659
Foreclosed Real Estate Owned		590		-		-		590
December 31, 2021
Impaired Loans	$	1,402	$	-	$	-	$	1,402
Foreclosed Real Estate Owned		1,742		-		-		1,742

Additional Qualitative Information about Level 3 Assets

	Quantitative Information about Level 3 Fair Value Measurements
(dollars in thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range (Weighted Average)
March 31, 2022
Impaired loans	$	1,659	Appraisal of collateral(1)	Appraisal adjustments(2)	10.0% (10.00%)
Foreclosed real estate owned	$	590	Appraisal of collateral(1)	Liquidation Expenses(2)	7.00% (7.00%)

	Quantitative Information about Level 3 Fair Value Measurements
(dollars in thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range (Weighted Average)
December 31, 2021
Impaired loans	$	1,402	Appraisal of collateral(1)	Appraisal adjustments(2)	0%-10.0% (1.12%)
Foreclosed real estate owned	$	1,742	Appraisal of collateral(1)	Liquidation Expenses(2)	7.00% (7.00%)

(1)Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable, less any associated allowance.

(2)Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

Fair Value, by Balance Sheet Grouping

	Fair Value Measurements at March 31, 2022
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents (1)	$	166,026	$	166,026	$	166,026	$	-	$	-
Loans receivable, net		1,354,985		1,383,948		-		-		1,383,948
Mortgage servicing rights		267		500		-		-		500
Regulatory stock (1)		3,423		3,423		3,423		-		-
Bank owned life insurance (1)		40,215		40,215		40,215		-		-
Accrued interest receivable (1)		5,876		5,876		5,876		-		-
Financial liabilities:
Deposits		1,781,777		1,784,253		1,295,792		-		488,461
Short-term borrowings (1)		63,622		63,622		63,622		-		-
Other borrowings		26,844		26,589		-		-		26,589
Accrued interest payable (1)		1,160		1,160		1,160		-		-
Off-balance sheet financial instruments:
Commitments to extend credit and ‎outstanding letters of credit		-		-		-		-		-

	Fair Value Measurements at December 31, 2021
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents (1)	$	206,681	$	206,681	$	206,681	$	-	$	-
Loans receivable, net		1,338,489		1,389,870		-		-		1,389,870
Mortgage servicing rights		289		500		-		-		500
Regulatory stock (1)		3,927		3,927		3,927		-		-
Bank owned life insurance (1)		40,038		40,038		40,038		-		-
Accrued interest receivable (1)		5,889		5,889		5,889		-		-
Financial liabilities:
Deposits		1,756,793		1,759,722		1,228,091		-		531,631
Short-term borrowings (1)		60,822		60,822		60,822		-		-
Other borrowings		29,998		30,221		-		-		30,221
Accrued interest payable (1)		1,203		1,203		1,203		-		-
Off-balance sheet financial instruments:
Commitments to extend credit and ‎outstanding letters of credit		-		-		-		-		-

(1)This financial instrument is carried at cost, which approximates the fair value of the instrument.