Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Measurements [Abstract]

Fair Value Assets and Liabilities Measured on Nonrecurring Basis Valuation Techniques

(Dollars in thousands)	Fair Value		Valuation Technique	Unobservable Input	Range
December 31, 2021
MSRs (1)	$	4,087	Market Approach	Weighted average prepayment speed (PSA) (2)	326
IRLCs - net asset	$	380	Market Approach	Range of pull through rate	77% - 100%
				Average pull through rate	93%

(1) The weighted average was calculated with reference to the principal balance of the underlying mortgages.

(2) PSA = Public Securities Association Standard Prepayment Model

Schedule of Servicing Asset at Fair Value

The following table presents activity in MSRs for the year ended December 31.

(Dollars in thousands)	2021
Beginning balance	$	—
Acquired		4,146
Valuation adjustment		(59)
Ending balance	$	4,087

Schedule of Derivative Asset at Fair Value

The following table presents activity in the IRLCs for the year ended December 31.

(Dollars in thousands)	2021
Beginning balance	$	—
Acquired		800
Valuation adjustment		(420)
Ending balance	$	380

Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis

					Significant
					Other		Significant
			Quoted		Observable		Unobservable
			Prices		Inputs		Inputs
(Dollars in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
December 31, 2021
Assets:
Securities available for sale:
U.S. Government agencies	$	22,305	$	—	$	22,305	$	—
Mortgage-backed		92,637		—		92,637		—
Other Debt Securities		2,040		—		2,040		—
		116,982		—		116,982		—
Equity securities		1,372		—		1,372		—
TBA securities		55		—		55		—
LHFS		37,749		—		37,749		—
MSRs		4,087		—		—		4,087
IRLCs		380		—		—		380
Total assets at fair value	$	160,625	$	—	$	156,158	$	4,467
Liabilities:
TBA securities	$	41	$	—	$	41	$	—
Total liabilities at fair value	$	41	$	—	$	41	$	—

					Significant
					Other		Significant
			Quoted		Observable		Unobservable
			Prices		Inputs		Inputs
(Dollars in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
December 31, 2020
Assets:
Securities available for sale:
U.S. Government agencies	$	23,537	$	—	$	23,537	$	—
Mortgage-backed		116,031		—		116,031		—
		139,568		—		139,568		—
Equity securities		1,395		—		1,395		—
Total assets at fair value	$	140,963	$	—	$	140,963	$	—

Fair Value of Assets Measured on Nonrecurring Basis

	Quantitative Information about Level 3 Fair Value Measurements
								Weighted
(Dollars in thousands)	Fair Value		Valuation Technique		Unobservable Input		Range	Average (3)
December 31, 2021
Nonrecurring measurements:
Impaired loans	$	617	Appraisal of collateral	(1)	Liquidation expense	(2)	10%	(10%)
Impaired loans	$	2,026	Discounted cash flow analysis	(1)	Discount rate		4% - 7.25%	(6%)
Other real estate owned	$	532	Appraisal of collateral	(1)	Appraisal adjustments	(2)	20% - 40%	(35%)

	Quantitative Information about Level 3 Fair Value Measurements
								Weighted
(Dollars in thousands)	Fair Value		Valuation Technique		Unobservable Input		Range	Average (3)
December 31, 2020
Nonrecurring measurements:
Impaired loans	$	610	Appraisal of collateral	(1)	Liquidation expense	(2)	10%	(10%)
Impaired loans	$	1,110	Discounted cash flow analysis	(1)	Discount rate		6% - 7.25%	(6%)

(1) Fair value is generally determined through independent appraisals of the underlying collateral (impaired loans and OREO) or discounted cash flow analyses (impaired loans), which generally include various level III inputs which are not identifiable.

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

(3) Unobservable inputs were weighted by the relative fair value of the instruments.

Schedule of Estimated Fair Values of Financial Assets and Liabilities

	December 31, 2021				December 31, 2020
			Estimated				Estimated
	Carrying		Fair		Carrying		Fair
(Dollars in thousands)	Amount		Value		Amount		Value
Financial assets
Level 1 inputs
Cash and cash equivalents	$	583,613	$	583,613	$	186,917	$	186,917
Level 2 inputs
Investment securities available for sale	$	116,982	$	116,982	$	139,568	$	139,568
Investment securities held to maturity		404,594		401,524		65,706		65,828
Equity securities		1,372		1,372		1,395		1,395
Restricted securities		4,159		4,159		3,626		3,626
LHFS		37,749		37,749		—		—
TBA securities		55		55		—		—
Cash surrender value on life insurance		47,935		47,935		31,018		31,018
Level 3 inputs
Loans, net	$	2,105,231	$	2,106,373	$	1,440,368	$	1,436,292
MSRs		4,087		4,087		—		—
IRLCs		380		380		—		—
Financial liabilities
Level 2 inputs
Deposits:
Noninterest-bearing demand	$	927,497	$	927,497	$	509,091	$	509,091
Checking plus interest		524,143		524,143		446,243		446,243
Money market		889,099		889,099		292,974		292,974
Savings		225,546		225,546		177,524		177,524
Club		388		388		392		392
Certificates of deposit		459,563		461,135		274,481		277,408
Securities sold under retail repurchase agreement		4,143		4,143		1,050		1,050
Advances from FHLB - long-term		10,135		10,187		—		—
Subordinated debt		42,762		44,876		24,429		25,745
TBA Securities		41		41		—		—