Fair Value Measurements and Disclosures (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

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

The only assets and liabilities measured at fair value on a recurring basis are our securities available-for-sale.  There were no transfers between levels during the period.  Information related to the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2021 and December 31, 2020 is as follows: (amounts in thousands)

	Fair Value Measurements At Reporting Date Using:
June 30, 2021	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Securities available-for-sale:
Residential mortgage -backed	$	585,171	$	-	$	585,171	$	-
U.S. treasury securities		56,241		-		56,241		-
U.S. government sponsored enterprises		28,441		-		28,441		-
State, county, and municipal		101,383		-		101,383		-
Corporate debt obligations		9,128		-		9,128		-
Totals	$	780,364	$	-	$	780,364	$	-

	Fair Value Measurements At Reporting Date Using:
December 31, 2020	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Securities available-for-sale:
Residential mortgage -backed	$	350,597	$	-	$	350,597	$	-
U.S. government sponsored enterprises		36,231		-		36,231		-
State, county, and municipal		103,229		-		103,229		-
Corporate debt obligations		3,217		-		3,217		-
Totals	$	493,274	$	-	$	493,274	$	-

Schedule of Fair Value, Assets Measured on Non-Recurring Basis

Assets measured at fair value on a nonrecurring basis are included in the table below as of June 30, 2021 and December 31, 2020 (amounts in thousands):

	Fair Value Measurements At Reporting Date Using:
June 30, 2021	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans	$	3,758	$	-	$	-	$	3,758
Foreclosed assets		674		-		-		674
Totals	$	4,432	$	-	$	-	$	4,432

December 31, 2020	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans	$	4,756	$	-	$	-	$	4,756
Foreclosed assets		240		-		-		240
Totals	$	4,996	$	-	$	-	$	4,996

Summary of Estimated Fair values Related to Carrying or Notional Amounts of Financial Instruments

The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments as of June 30, 2021 and December 31, 2020 are as follows (amounts in thousands):

			Estimated Fair Value
June 30, 2021	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	85,894	$	85,894	$	-	$	-
Certificates of deposit in banks		3,660		-		3,660		-
Securities available-for-sale		780,364		-		780,364		-
Loans held-for-sale		17,181		-		17,181		-
Loans receivable		1,208,665		-		1,214,747		3,758
Accrued interest receivable		6,702		-		6,702		-
Bank owned life insurance		40,559		-		40,559		-
Restricted equity securities		1,482		-		-		1,482
Financial liabilities:
Deposits		1,992,013		-		1,960,405		-
Securities sold under agreements to repurchase		10,486		-		10,486		-
Subordinated debentures		39,316		-		40,119		-
Accrued interest payable		672		-		672		-

			Estimated Fair Value
December 31, 2020	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	60,268	$	60,268	$	-	$	-
Certificates of deposit in banks		4,155		-		4,155		-
Securities available-for-sale		493,274		-		493,274		-
Loans held-for-sale		24,004		-		24,004		-
Loans receivable		1,169,779		-		1,184,010		4,756
Accrued interest receivable		6,799		-		6,799		-
Bank owned life insurance		29,016		-		29,016		-
Restricted equity securities		1,777		-		-		1,777
Financial liabilities:
Deposits		1,653,635		-		1,640,680		-
Securities sold under agreements to repurchase		13,653		-		13,653		-
Note payable		20,392		-		20,392		-
Accrued interest payable		455		-		455		-