DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2021

Unobservable inputs - Liquidation expenses

Schedule of carrying amount and fair value of financial instruments

The following tables provide the carrying amount for each class of assets and liabilities and the fair value for certain financial instruments that are not required to be measured or reported at fair value on the Corporation's Consolidated Balance Sheets as of December 31, 2021 and December 31, 2020:

FINANCIAL INSTRUMENTS NOT REQUIRED TO BE MEASURED OR REPORTED AT FAIR VALUE

(DOLLARS IN THOUSANDS)

	December 31, 2021
					Quoted Prices in		Significant
					Active Markets		Other		Significant
					for Identical		Observable		Unobservable
	Carrying				Assets		Inputs		Inputs
	Amount		Fair Value		(Level 1)		(Level II)		(Level III)
	$		$		$		$		$
Financial Assets:
Cash and cash equivalents		158,449		158,449		158,449		—		—
Regulatory stock		5,380		5,380		5,380		—		—
Loans held for sale		3,194		3,194		3,194		—		—
Loans, net of allowance		907,973		914,251		—		—		914,251
Mortgage servicing assets		1,768		2,129		—		—		2,129
Accrued interest receivable		5,152		5,152		5,152		—		—
Bank owned life insurance		35,414		35,414		35,414		—		—
Financial Liabilities:
Demand deposits		686,278		686,278		686,278		—		—
Interest-bearing demand deposits		63,015		63,015		63,015		—		—
NOW accounts		139,366		139,366		139,366		—		—
Money market deposit accounts		168,327		168,327		168,327		—		—
Savings accounts		341,291		341,291		341,291		—		—
Time deposits		113,936		113,919		—		—		113,919
Total deposits		1,512,213		1,512,196		1,398,277		—		113,919
Long-term debt		44,206		43,060		—		—		43,060
Subordinated debt		19,680		19,088		—		—		19,088
Accrued interest payable		251		251		251		—		—

96

ENB FINANCIAL CORP

Notes to Consolidated Financial Statements

 

FINANCIAL INSTRUMENTS NOT REQUIRED TO BE MEASURED OR REPORTED AT FAIR VALUE

(DOLLARS IN THOUSANDS)

	December 31, 2020
					Quoted Prices in		Significant
					Active Markets		Other		Significant
					for Identical		Observable		Unobservable
	Carrying				Assets		Inputs		Inputs
	Amount		Fair Value		(Level 1)		(Level II)		(Level III)
	$		$		$		$		$
Financial Assets:
Cash and cash equivalents		94,939		94,939		94,939		—		—
Regulatory stock		6,107		6,107		6,107		—		—
Loans held for sale		3,029		3,029		3,029		—		—
Loans, net of allowance		811,043		829,902		—		—		829,902
Mortgage servicing assets		1,076		1,083		—		—		1,083
Accrued interest receivable		4,546		4,546		4,546		—		—
Bank owned life insurance		29,646		29,646		29,646		—		—
Financial Liabilities:
Demand deposits		534,853		534,853		534,853		—		—
Interest-bearing demand deposits		47,092		47,092		47,092		—		—
NOW accounts		137,279		137,279		137,279		—		—
Money market deposit accounts		140,113		140,113		140,113		—		—
Savings accounts		274,386		274,386		274,386		—		—
Time deposits		119,088		121,470		—		—		121,470
Total deposits		1,252,811		1,255,193		1,133,723		—		121,470
Short-term borrowings		54,790		51,800		—		—		51,800
Long-term debt		19,601		19,601		—		—		19,601
Accrued interest payable		320		320		320		—		—