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Fair Values of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2022
Fair Values of Financial Instruments  
Summary of the estimated fair value and the related carrying values of the Company's financial instruments

Dollars are in thousands

Fair Value Measurements at March 31, 2022

Quoted Prices in

Significant

Significant

Active Markets for

Other

Unobservable

Carrying

Identical Assets

Observable Inputs

Inputs

    

Amount

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

Balance

Financial assets:

  

Cash and due from banks

$

13,916

$

13,916

$

$

$

13,916

Interest bearing deposits

 

308,016

 

308,016

 

 

 

308,016

Federal funds sold

 

23,982

 

23,982

 

 

 

23,982

Securities:

 

  

 

  

 

 

  

 

Available for sale

 

125,129

 

 

125,129

 

 

125,129

Loans held for sale

1,342

1,342

1,342

Loans, net of allowance for credit losses

 

1,138,799

 

 

 

1,119,549

 

1,119,549

Accrued interest receivable

 

4,113

 

 

4,113

 

 

4,113

Restricted stock

 

4,935

 

 

4,935

 

 

4,935

Other investments

 

4,983

 

 

4,983

 

 

4,983

Bank owned life insurance

18,366

18,366

18,366

Financial liabilities:

 

  

 

  

 

  

 

  

 

  

Deposits

$

1,491,455

$

$

1,135,248

$

351,556

$

1,486,804

Accrued interest payable

 

267

 

 

267

 

 

267

FHLB advances

 

26,149

 

 

26,686

 

 

26,686

Subordinated notes payable

 

22,180

 

 

28,272

 

 

28,272

Other borrowings

750

750

750

Dollars are in thousands

Fair Value Measurements at December 31, 2021

Quoted Prices in

Significant

Significant

Active Markets for

Other

Unobservable

Carrying

Identical Assets

Observable Inputs

Inputs

    

Amount

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

Balance

Financial assets:

  

Cash and due from banks

$

12,887

$

12,887

$

$

$

12,887

Interest bearing deposits

 

297,902

 

297,902

 

 

 

297,902

Federal funds sold

 

28,040

 

28,040

 

 

 

28,040

Securities:

 

  

 

  

 

 

  

 

Available for sale

 

122,021

 

 

122,021

 

 

122,021

Loans held for sale

4,064

4,064

4,064

Loans, net of allowance for credit losses

 

1,102,539

 

 

 

1,089,812

 

1,089,812

Accrued interest receivable

 

4,313

 

 

4,313

 

 

4,313

Restricted stock

 

4,869

 

 

4,869

 

 

4,869

Other investments

 

5,065

 

 

5,065

 

 

5,065

Bank owned life insurance

18,254

18,254

18,254

Other real estate owned

 

837

 

 

 

837

 

837

Financial liabilities:

 

  

 

  

 

  

 

  

 

  

Deposits

$

1,442,876

$

$

1,063,619

$

380,245

$

1,443,864

Accrued interest payable

 

280

 

 

280

 

 

280

FHLB advances

 

26,313

 

 

27,007

 

 

27,007

Subordinated notes payable

 

22,168

 

 

30,091

 

 

30,091

Other borrowings

755

755

755