Fair Value (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Quoted Prices in

Significant

Active Markets

Other

Significant

for

Observable

Unobservable

Identical Assets

Inputs

Inputs

(Dollars in thousands)

Amount

(Level 1)

(Level 2)

(Level 3)

September 30, 2021:

Securities available-for-sale:

Agency obligations 

$

119,509

—

119,509

—

Agency RMBS

213,614

—

213,614

—

State and political subdivisions

74,351

—

74,351

—

Total securities available-for-sale

407,474

—

407,474

—

Total assets at fair value

$

407,474

—

407,474

—

December 31, 2020:

Securities available-for-sale:

Agency obligations 

$

97,448

—

97,448

—

Agency RMBS

163,470

—

163,470

—

State and political subdivisions

74,259

—

74,259

—

Total securities available-for-sale

335,177

—

335,177

—

Total assets at fair value

$

335,177

—

335,177

—

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]

Quoted Prices in

Active Markets

Other

Significant

for

Observable

Unobservable

Carrying

Identical Assets

Inputs

Inputs

(Dollars in thousands)

Amount

(Level 1)

(Level 2)

(Level 3)

September 30, 2021:

Loans held for sale

$

577

—

577

—

Loans, net

(1)

286

—

—

286

Other assets

(2)

1,326

—

—

1,326

Total assets at fair value

$

2,189

—

577

1,612

December 31, 2020:

Loans held for sale

$

3,418

—

3,418

—

Loans, net

(1)

319

—

—

319

Other assets

(2)

1,322

—

—

1,322

Total assets at fair value

$

5,059

—

3,418

1,641

(1)

Loans considered impaired under ASC 310-10-35 Receivables. This amount reflects the recorded investment in impaired loans, net

of any related allowance for loan losses.

(2)

Represents MSRs, net. These are carried at lower of cost or estimated fair value.

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

Weighted 

Carrying 

Significant 

Average

(Dollars in thousands)

Amount

Valuation Technique

Unobservable Input

Range

of Input

September 30, 2021:

Impaired loans

$

286

Appraisal

Appraisal discounts

10.0

-

10.0

%

10.0

%

Mortgage servicing rights, net

1,326

Discounted cash flow

Prepayment speed or CPR

13.0

-

15.8

15.2

Discount rate

9.5

-

11.5

9.5

December 31, 2020:

Impaired loans

$

319

Appraisal

Appraisal discounts

10.0

-

10.0

%

10.0

%

Mortgage servicing rights, net

1,330

Discounted cash flow

Prepayment speed or CPR

18.2

-

36.4

20.7

Discount rate

10.0

-

12.0

10.0

Financial Instruments [Table Text Block]

Fair Value Hierarchy

Carrying

Estimated

Level 1

Level 2

Level 3

(Dollars in thousands)

amount

fair value

inputs

inputs

Inputs

September 30, 2021:

Financial Assets:

Loans, net (1)

$

448,113

$

443,166

$

—

$

—

$

443,166

Loans held for sale

577

595

—

595

—

Financial Liabilities:

Time Deposits

$

159,285

$

160,372

$

—

$

160,372

$

—

December 31, 2020:

Financial Assets:

Loans, net (1)

$

456,082

$

451,816

$

—

$

—

$

451,816

Loans held for sale

3,418

3,509

—

3,509

—

Financial Liabilities:

Time Deposits

$

160,401

$

162,025

$

—

$

162,025

$

—

(1) Represents loans, net of unearned income and the allowance for loan losses. The fair value of loans was measured using an exit price notion.