FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

Note 17 – Fair Value of Financial Instruments

The carrying values and estimated fair values of financial instruments are summarized as follows:

Fair Value Measurements at:

(Dollars in thousands)	Carrying Value		Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level I)		Significant Other Observable Inputs (Level II)		Significant Unobservable Inputs (Level III)
December 31, 2020
Financial assets:
Cash and cash equivalents	$	263,893	$	263,893	$	263,893	$	—	$	—
Certificates of deposit with banks	11,803		11,986		—		11,986		—
Securities available-for-sale	410,624		410,624		—		366,945		43,679
Equity securities	27,585		27,585		472		—		27,113
Loans held-for-sale	1,062		1,062		—		1,062		—
Loans	1,427,900		1,434,275		—		—		1,434,275
Mortgage servicing rights	2,942		2,942		—		—		2,942
Interest rate swap	13,822		13,822		—		13,822		—
Accrued interest receivable	7,793		7,793		—		2,770		5,023
Fair value hedge	2,215		2,215		—		2,215		—
Bank-owned life insurance	41,262		41,262		—		41,262		—
Financial liabilities:
Deposits	$	1,982,389	$	1,964,860	$	—	$	1,964,860	$	—
Repurchase agreements	10,266		10,266		—		10,266		—
Fair value hedge	2,141		2,141		—		2,141		—
Interest rate swap	13,822		13,822		—		13,822		—
Accrued interest payable	572		572		—		572		—
Subordinated debt	43,407		45,536		—		45,536		—
December 31, 2019
Financial assets:
Cash and cash equivalents	$	28,002	$	28,002	$	28,002	$	—	$	—
Certificates of deposits with banks	12,549		12,586		—		12,586		—
Securities available-for-sale	235,821		235,821		—		198,562		37,259
Equity securities	18,514		18,514		—		—		18,514
Loans held-for-sale	109,788		109,788		—		109,788		—
Loans	1,362,766		1,364,706		—		—		1,364,706
Mortgage servicing rights	348		348		—		—		348
Interest rate lock commitment	1,660		1,660		—		—		1,660
Interest rate swap	5,722		5,722		—		5,722		—
Fair value hedge	1,770		1,770		—		1,770		—
Accrued interest receivable	7,909		7,909		—		1,592		6,317
Bank-owned life insurance	35,374		35,374		—		35,374		—
Financial liabilities:
Deposits	$	1,265,042	$	1,249,135	$	—	$	1,249,135	$	—
Repurchase agreements	10,172		10,172		—		10,172		—
FHLB and other borrowings	222,885		222,891		—		222,891		—
Mortgage-backed security hedges	186		186		—		186		—
Fair value hedge	1,418		1,418		—		1,418
Interest rate swap	5,722		5,722		—		5,722		—
Accrued interest payable	1,060		1,060		—		1,060		—
Subordinated debt	4,124		4,124		—		4,124		—