Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value of Financial Instruments [Abstract]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

(in thousands)	Fair Value at ‎December 31, ‎2020		Valuation ‎Technique	Significant ‎Unobservable ‎Inputs	Significant ‎Unobservable ‎Input Value
Recurring:
Investment Securities – ‎  available for sale - CDO	$	13,260	Discounted Cash Flow	Discount Rate	Libor+ 5.25%
Non-recurring:
Impaired Loans	$	1,465	Market Comparable Properties	Marketability Discount	10.0% to 15.0% (1) ‎(weighted avg 12.5%)
Other Real Estate Owned	$	913	Market Comparable Properties	Marketability Discount	15.0%

(in thousands)	Fair Value at ‎December 31, ‎2019		Valuation ‎Technique	Significant ‎Unobservable ‎Inputs	Significant ‎Unobservable ‎Input Value
Recurring:
Investment Securities – ‎  available for sale - CDO	$	14,354	Discounted Cash Flow	Discount Rate	Libor+ 4.5%
Non-recurring:
Impaired Loans	$	6,995	Market Comparable Properties	Marketability Discount	10.0% to 15.0% (1) ‎(weighted avg 12.9%)
Other Real Estate Owned	$	2,571	Market Comparable Properties	Marketability Discount	10.0% to 15.0% (1) ‎(weighted avg 12.5%)

(1)Range would include discounts taken since appraisal and estimated values

Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis

			Fair Value Measurements at
			December 31, 2020 Using
			(In Thousands)
	Assets & Liabilities ‎Measured at		Quoted Prices ‎in Active ‎Markets for ‎Identical Assets	Significant ‎Other ‎Observable ‎Inputs		Significant ‎Unobservable ‎Inputs
Description	12/31/20		(Level 1)	(Level 2)		(Level 3)
Recurring:
Investment securities available-for-sale:
U.S. government agencies	$	76,433		$	76,433
Residential mortgage-backed agencies	$	22,899		$	22,899
Commercial mortgage-backed agencies	$	33,042		$	33,042
Collateralized mortgage obligations	$	70,637		$	70,637
Obligations of states and political subdivisions	$	10,614		$	10,614
Collateralized debt obligations	$	13,260				$	13,260
Financial derivative	$	(1,320)		$	(1,320)
Non-recurring:
Impaired loans	$	1,465				$	1,465
Other real estate owned	$	913				$	913
			Fair Value Measurements at
			December 31, 2019 Using
			(In Thousands)
	Assets & Liabilities ‎Measured at		Quoted Prices ‎in Active ‎Markets for ‎Identical Assets	Significant ‎Other ‎Observable ‎Inputs		Significant ‎Unobservable ‎Inputs
Description	12/31/19		(Level 1)	(Level 2)		(Level 3)
Recurring:
Investment securities available-for-sale:
U.S. government agencies	$	39,894		$	39,894
Residential mortgage-backed agencies	$	4,900		$	4,900
Commercial mortgage-backed agencies	$	27,764		$	27,764
Collateralized mortgage obligations	$	29,923		$	29,923
Obligations of states and political subdivisions	$	14,470		$	14,470
Collateralized debt obligations	$	14,354				$	14,354
Financial derivative	$	(133)		$	(133)
Non-recurring:
Impaired loans	$	6,995				$	6,995
Other real estate owned	$	2,571				$	2,571

Reconciliation of Fair Valued Assets Measured on a Recurring Basis

	Fair Value ‎Measurements Using ‎Significant
	Unobservable Inputs
	(Level 3)
	(In Thousands)
	Investment Securities ‎Available for Sale
Beginning balance January 1, 2020	$	14,354
Total gains/(losses) realized/unrealized:
Included in other comprehensive loss		(1,094)
Ending balance December 31, 2020	$	13,260
	Fair Value ‎Measurements Using ‎Significant
	Unobservable Inputs
	(Level 3)
	(In Thousands)
	Investment Securities ‎Available for Sale
Beginning balance January 1, 2019	$	15,277
Total gains/(losses) realized/unrealized:
Calls/maturities of investments		—
Included in other comprehensive income		(923)
Ending balance December 31, 2019	$	14,354

Fair Value by Balance Sheet Grouping

	December 31, 2020				Fair Value Measurements
	Carrying		Fair		Quoted Prices ‎in Active ‎Markets for ‎Identical ‎Assets		Significant ‎Other ‎Observable ‎Inputs		Significant ‎Unobservable ‎Inputs
(in thousands)	Amount		Value		(Level 1)		(Level 2)		(Level 3)
Financial Assets:
Cash and due from banks	$	146,673	$	146,673	$	146,673
Interest bearing deposits in banks		2,759		2,759		2,759
Investment securities - AFS		226,885		226,885			$	213,625	$	13,260
Investment securities - HTM		68,263		77,612				49,442		28,170
Restricted bank stock		4,468		4,468				4,468
Loans, net		1,149,596		1,150,186						1,150,186
Accrued interest receivable		6,241		6,241				6,241
Financial Liabilities:
Deposits – non-maturity		1,194,140		1,194,140				1,194,140
Deposits – time deposits		228,226		231,241				231,241
Financial derivative		1,320		1,320				1,320
Short-term borrowed funds		49,160		49,160				49,160
Long-term borrowed funds		100,929		104,825				104,825
Accrued interest payable		391		391				391
Off balance sheet financial instruments		—		—		—

	December 31, 2019				Fair Value Measurements
	Carrying		Fair		Quoted Prices ‎in Active ‎Markets for ‎Identical ‎Assets		Significant ‎Other ‎Observable ‎Inputs		Significant ‎Unobservable ‎Inputs
(In thousands)	Amount		Value		(Level 1)		(Level 2)		(Level 3)
Financial Assets:
Cash and due from banks	$	48,512	$	48,512	$	48,512
Interest bearing deposits in banks		1,467		1,467		1,467
Investment securities - AFS		131,305		131,305			$	116,951	$	14,354
Investment securities - HTM		93,979		100,656				79,084		21,572
Restricted bank stock		4,415		4,415				4,415
Loans, net		1,038,894		1,024,495						1,024,495
Accrued interest receivable		4,116		4,116				4,116
Financial Liabilities:
Deposits – non-maturity		888,141		888,141				888,141
Deposits – time deposits		253,890		256,227				256,227
Financial derivative		133		133				133
Short-term borrowed funds		48,728		48,728				48,728
Long-term borrowed funds		100,929		100,848				100,848
Accrued interest payable		499		499				499
Off balance sheet financial instruments		—		—		—