Fair Value Accounting (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Assets And Liabilities Measured at Fair Value on Recurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis as of June 30, 2021 and December 31, 2020.

	June 30, 2021
(dollars in thousands)	Level 1		Level 2	Level 3	Total
Assets
Securities available for sale
US treasuries	$	-	1,005	-	1,005
US government agencies		-	7,354	-	7,354
SBA securities		-	475	-	475
State and political subdivisions		-	19,754	-	19,754
Asset-backed securities		-	10,911	-	10,911
Mortgage-backed securities		-	51,733	-	51,733
Mortgage loans held for sale		-	36,427	-	36,427
Mortgage loan interest rate lock commitments		-	708	-	708
Total assets measured at fair value on a recurring basis	$	-	128,367	-	128,367
Liabilities
MBS forward sales commitments	$	-	75	-	75
Total liabilities measured at fair value on a recurring basis	$	-	75	-	75

23

	December 31, 2020
(dollars in thousands)	Level 1		Level 2	Level 3	Total
Assets
Securities available for sale:
US government agencies	$	-	6,493	-	6,493
SBA securities		-	485	-	485
State and political subdivisions		-	19,388	-	19,388
Asset-backed securities		-	11,529	-	11,529
Mortgage-backed securities		-	56,834	-	56,834
Mortgage loans held for sale		-	60,257	-	60,257
Mortgage loan interest rate lock commitments		-	2,385	-	2,385
Total assets measured at fair value on a recurring basis	$	-	157,371	-	157,371
Liabilities
MBS forward sales commitments	$	-	501	-	501
Total liabilities measured at fair value on a recurring basis	$	-	501	-	501

Schedule of Assets And Liabilities Measured at Fair Value on Nonrecurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a nonrecurring basis as of June 30, 2021 and December 31, 2020.

	As of June 30, 2021
(dollars in thousands)	Level 1		Level 2	Level 3	Total
Assets
Impaired loans	$	-	7,181	2,618	9,799
Other real estate owned		-	366	-	366
Total assets measured at fair value on a nonrecurring basis	$	-	7,547	2,618	10,165

	As of December 31, 2020
(dollars in thousands)	Level 1		Level 2	Level 3	Total
Assets
Impaired loans	$	-	8,144	3,109	11,253
Other real estate owned		-	1,169	-	1,169
Total assets measured at fair value on a nonrecurring basis	$	-	9,313	3,109	12,422

Schedule of Estimated Fair Values of the Company's Financial Instruments

The estimated fair values of the Company’s financial instruments at June 30, 2021 and December 31, 2020 are as follows:

	June 30, 2021
	Carrying		Fair
(dollars in thousands)	Amount		Value	Level 1	Level 2	Level 3
Financial Assets:
Other investments, at cost	$	2,770	2,770	-	-	2,770
Loans1		2,200,836	2,158,807	-	-	2,158,807
Financial Liabilities:
Deposits		2,310,892	2,142,590	-	2,142,590	-
Subordinated debentures		36,052	33,737	-	33,737	-

	December 31, 2020
	Carrying		Fair
(dollars in thousands)	Amount		Value	Level 1	Level 2	Level 3
Financial Assets:
Other investments, at cost	$	3,635	3,635	-	-	3,635
Loans1		2,085,756	2,060,698	-	-	2,060,698
Financial Liabilities:
Deposits		2,142,758	2,008,317	-	2,008,317	-
FHLB and other borrowings		25,000	24,972	-	24,972	-
Subordinated debentures		35,998	30,371	-	30,371	-

¹ Carrying amount is net of the allowance for loan losses and previously presented impaired loans.