Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Carrying Values and Estimated Fair Values of Financial Instruments

The following table presents the carrying values and estimated fair values of our financial instruments as of the periods indicated:

(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)
September 30, 2021
Financial Assets:
Cash and cash equivalents	$	390,081	$	390,081	$	390,081	$	—	$	—
Certificates of deposit with banks	9,582		9,657		—		9,657		—
Securities available-for-sale	439,023		439,023		—		397,609		41,414
Equity securities	29,809		29,809		729		—		29,080
Loans receivable, net	1,738,999		1,748,759		—		—		1,748,759
Servicing Assets	2,667		2,667		—		—		2,667
Interest rate swap	8,444		8,444		—		8,444		—
Fair value hedge	1,699		1,699		—		1,699		—
Accrued interest receivable	8,513		8,513		—		2,621		5,892
Bank-owned life insurance	42,011		42,011		—		42,011		—
Financial Liabilities:
Deposits	$	2,398,940	$	2,375,650	$	—	$	2,375,650	$	—
Repurchase agreements	11,139		11,139		—		11,139		—
FHLB and other borrowings	—		—		—		—		—
Interest rate swap	8,444		8,444		—		8,444		—
Fair value hedge	1,129		1,129		—		1,129		—
Accrued interest payable	802		802		—		802		—
Subordinated debt	72,966		73,825		—		73,825		—
December 31, 2020
Financial assets:
Cash and cash equivalents	$	263,893	$	263,893	$	263,893	$	—	$	—
Certificates of deposits 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 receivable, net	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		—
Fair value hedge	2,215		2,215		—		2,215
Accrued interest receivable	7,793		7,793		—		2,770		5,023
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		—
Interest rate swap	13,822		13,822		—		13,822		—
Fair value hedge	2,141		2,141		—		2,141		—
Accrued interest payable	572		572		—		572		—
Subordinated debt	43,407		45,536		—		45,536		—