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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis.
 Balance atFair Value Measurements Using:
Dollars in thousandsJune 30, 2022Level 1Level 2Level 3
Debt securities available for sale    
U.S. Government sponsored agencies and corporations$26,431 $— $26,431 $— 
Residential mortgage-backed securities:    
Government sponsored agencies53,780 — 53,780 — 
Nongovernment sponsored entities40,391 — 40,391 — 
State and political subdivisions96,648 — 96,648 — 
Corporate debt securities31,550 — 27,800 3,750 
Asset-backed securities24,979 — 24,979 — 
Tax-exempt state and political subdivisions94,270 — 94,270 — 
Total debt securities available for sale$368,049 $— $364,299 $3,750 
Derivative financial assets
Interest rate caps$24,890 $— $24,890 $— 
Interest rate swaps6,562 — 6,562 — 

 Balance atFair Value Measurements Using:
Dollars in thousandsDecember 31, 2021Level 1Level 2Level 3
Debt securities available for sale    
U.S. Government sponsored agencies and corporations$36,629 $— $36,629 $— 
Residential mortgage-backed securities:    
Government sponsored agencies62,211 — 62,211 — 
Nongovernment sponsored entities26,586 — 26,586 — 
State and political subdivisions137,786 — 137,786 — 
Corporate debt securities30,278 — 30,278 — 
Asset-backed securities24,883 — 24,883 — 
Tax-exempt state and political subdivisions82,730 — 82,730 — 
Total debt securities available for sale$401,103 $— $401,103 $— 
Derivative financial assets
Interest rate caps$11,187 $— $11,187 $— 
Derivative financial liabilities    
Interest rate swaps$1,124 $— $1,124 $— 
Fair Value Measurements, Nonrecurring Assets measured at fair value on a nonrecurring basis are included in the table below.
 Balance atFair Value Measurements Using:
Dollars in thousandsJune 30, 2022Level 1Level 2Level 3
Residential mortgage loans held for sale$244 $— $244 $— 
Collateral-dependent loans with an ACLL    
Commercial real estate$3,051 $— $3,051 $— 
Construction and development350 — 350 — 
Residential real estate337 — 182 155 
Total collateral-dependent loans with an ACLL$3,738 $— $3,583 $155 
Property held for sale    
Commercial real estate$351 $— $351 $— 
Construction and development4,625 — 4,625 — 
Residential real estate— — — — 
Total property held for sale$4,976 $— $4,976 $— 

 Balance atFair Value Measurements Using:
Dollars in thousandsDecember 31, 2021Level 1Level 2Level 3
Residential mortgage loans held for sale$227 $— $227 $— 
Collateral-dependent loans with an ACLL    
Commercial real estate$2,417 $— $2,417 $— 
Construction and development693 — 693 — 
Residential real estate528 — 528 — 
Total collateral-dependent loans with an ACLL$3,638 $— $3,638 $— 
Property held for sale    
Commercial real estate$1,170 $— $1,170 $— 
Construction and development7,893 — 7,893 — 
Residential real estate27 — 27 — 
Total property held for sale$9,090 $— $9,090 $— 
Fair Value, by Balance Sheet Grouping
The carrying values and estimated fair values of our financial instruments are summarized below:
 June 30, 2022Fair Value Measurements Using:
Dollars in thousandsCarrying
Value
Estimated
Fair
Value
Level 1Level 2Level 3
Financial assets    
Cash and cash equivalents$49,601 $49,601 $17,921 $31,680 $— 
Debt securities available for sale368,049 368,049 — 364,299 3,750 
Debt securities held to maturity97,116 88,442 — 88,442 — 
Equity investments19,905 19,905 — 19,905 — 
Other investments18,329 18,329 — 18,329 — 
Loans held for sale244 244 — 244 — 
Loans, net2,941,813 2,971,493 — 3,583 2,967,910 
Accrued interest receivable11,794 11,794 — 11,794 — 
     Cash surrender value of life insurance policies and annuities71,073 71,073 — 71,073 — 
Derivative financial assets31,452 31,452 — 31,452 — 
 $3,609,376 $3,630,382 $17,921 $640,801 $2,971,660 
Financial liabilities    
Deposits$2,975,304 $2,979,781 $— $2,979,781 $— 
Short-term borrowings291,447 291,447 — 291,447 — 
Long-term borrowings669 715 — 715 — 
Subordinated debentures103,053 95,997 — — 95,997 
Subordinated debentures owed to unconsolidated
  subsidiary trusts
19,589 19,589 — 19,589 — 
Accrued interest payable963 963 — 963 — 
 $3,391,025 $3,388,492 $— $3,292,495 $95,997 


 December 31, 2021Fair Value Measurements Using:
Dollars in thousandsCarrying
Value
Estimated
Fair
Value
Level 1Level 2Level 3
Financial assets    
Cash and cash equivalents$78,458 $78,458 $21,006 $57,452 $— 
Debt securities available for sale401,103 401,103 — 401,103 — 
Debt securities held to maturity98,060 101,242 — 101,242 — 
Equity investments20,202 20,202 — 20,202 — 
Other investments11,304 11,304 — 11,304 — 
Loans held for sale, net227 227 — 227 — 
Loans, net2,729,093 2,726,959 — 3,638 2,723,321 
Accrued interest receivable10,578 10,578 — 10,578 — 
Cash surrender value of life insurance policies and annuities60,613 60,613 — 60,613 — 
Derivative financial assets11,187 11,187 — 11,187 — 
 $3,420,825 $3,421,873 $21,006 $677,546 $2,723,321 
Financial liabilities    
Deposits$2,943,089 $2,944,722 $— $2,944,722 $— 
Short-term borrowings140,146 140,146 — 140,146 — 
Long-term borrowings679 795 — 795 — 
Subordinated debentures102,891 103,623 — — 103,623 
Subordinated debentures owed to unconsolidated
  subsidiary trusts
19,589 19,589 — 19,589 — 
Accrued interest payable788 788 — 788 — 
Derivative financial liabilities1,124 1,124 — 1,124 — 
 $3,208,306 $3,210,787 $— $3,107,164 $103,623