Disclosures About Fair Value of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

Disclosures about Fair Value of Assets and Liabilities [Abstract]

Assets Measured at Fair Value on Nonrecurring Basis

The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2022 and December 31, 2021 (dollars in thousands):

	Fair Value		(Level 1)		(Level 2)		(Level 3)
June 30, 2022
Impaired loans (collateral- dependent)	$	6,770	$	-	$	-	$	6,770
December 31, 2021
Impaired loans (collateral- dependent)	$	6,910	$	-	$	-	$	6,910

Quantitative Information About Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements

The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements.

	Fair Value		Valuation Technique	Unobservable Inputs	Weighted- Average
June 30, 2022
Collateral-dependent impaired loans	$	6,770	Appraisals from comparable properties	Estimated cost to sell		20	%
December 31, 2021
Collateral-dependent impaired loans	$	6,910	Appraisals from comparable properties	Estimated cost to sell		20	%

Estimated Fair Value of Financial Instruments Not Recorded at Fair Value

The following table presents estimated fair values of the Company’s financial instruments not recorded at fair value at June 30, 2022 and December 31, 2021 (dollars in thousands):

	Carrying		Fair Value Measurements
	Amount		Level 1		Level 2		Level 3		Total
June 30, 2022
Financial Assets
Cash and due from banks	$	123,437	$	123,437	$	-	$	-	$	123,437
Federal funds sold		-		-		-		-		-
Interest-bearing time deposits in other banks		1,992		-		1,992		-		1,992
Loans, net of allowance		1,141,497		-		1,132,823		6,770		1,139,593
Loans held for sale		635		-		635		-		635
Nonmarketable equity securities		1,192		-		1,192		-		1,192
Interest receivable		5,741		-		5,741		-		5,741
Financial Liabilities
Deposits	$	1,346,291	$	-	$	1,347,589	$	-	$	1,347,589
Interest payable		102		-		102		-		102
December 31, 2021
Financial Assets
Cash and due from banks	$	195,359	$	195,359	$	-	$	-	$	195,359
Federal funds sold		9,493		9,493		-		-		9,493
Interest-bearing time deposits in other banks		3,237		-		3,237		-		3,237
Loans, net of allowance		1,018,085		-		1,011,048		6,910		1,017,958
Loans held for sale		464		-		464		-		464
Nonmarketable equity securities		1,202		-		1,202		-		1,202
Interest receivable		4,259		-		4,259		-		4,259
Financial Liabilities
Deposits	$	1,217,471	$	-	$	1,217,094	$	-	$	1,217,094
Interest payable		117		-		117		-		117