Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Summary of Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at June 30, 2020 and December 31, 2019 are as follows:

	Carrying		Fair Value Measurements
(Dollars in thousands)	Amount		Level 1		Level 2		Level 3		Total
As of June 30, 2020
Financial assets:
Cash and due from banks	$	508,069	$	508,069	$	—	$	—	$	508,069
Securities available for sale		39,723		—		39,723		—		39,723
Loans, net		1,285,388		—		—		1,288,088		1,288,088
Accrued interest receivable		7,379		—		106		7,273		7,379
Financial liabilities:
Deposits	$	1,385,702	$	1,221,207	$	164,775	$	—	$	1,385,982
Other borrowings		364,703		—		—		364,703		364,703
Subordinated debt		4,986		—		—		5,063		5,063
Accrued interest payable		402		—		107		296		403
As of December 31, 2019
Financial assets:
Cash and due from banks	$	114,342	$	114,342	$	—	$	—	$	114,342
Securities available for sale		28,555		—		28,555		—		28,555
Loans, net		941,132		—		—		940,944		940,944
Accrued interest receivable		3,398		—		168		3,230		3,398
Financial liabilities:
Deposits	$	988,236	$	870,495	$	121,136	$	—	$	991,631
Other borrowings		10,000		—		—		10,032		10,032
Subordinated debt		4,977		—		—		5,112		5,112
Accrued interest payable		400		—		326		74		400

Summary of Assets at Fair Value on a Recurring Basis

The Company is required or permitted to record the following assets at fair value on a recurring basis.

(Dollars in thousands)	Fair Value		Level 1		Level 2		Level 3
As of June 30, 2020
Investments available for sale:
Mortgage backed securities	$	29,986	$	—	$	29,986	$	—
Government agencies		2,466		—		2,466		—
Corporate bonds		7,271		—		7,271		—
Total assets measured at fair value on a recurring basis	$	39,723	$	—	$	39,723	$	—
As of December 31, 2019
Investments available for sale:
Mortgage backed securities	$	20,722	$	—	$	20,722	$	—
Government agencies		7,833		—		7,833		—
Corporate bonds		—		—		—		—
Total assets measured at fair value on a recurring basis	$	28,555	$	—	$	28,555	$	—

Summary of Impaired Loans Measured at Fair Value on a Non-Recurring Basis

The following table summarizes impaired loans measured at fair value on a non-recurring basis as of June 30, 2020 and December 31, 2019.​​​​​​​

	Carrying		Fair Value Measurements
(Dollars in thousands)	Amount		Level 1		Level 2		Level 3
As of March 31, 2020
Impaired loans - Commercial	$	1,489	$	—	$	—	$	1,489
Total assets measured at fair value on a non-recurring basis	$	1,489	$	—	$	—	$	1,489
As of December 31, 2019
Impaired loans - Commercial	$	2,474	$	—	$	—	$	2,474
Impaired loans - Real estate other		705						705
Impaired loans - SBA		296						296
Total assets measured at fair value on a non-recurring basis	$	3,475	$	—	$	—	$	3,475