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Fair Values of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 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 June 30, 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

$

16,127

$

16,127

$

$

$

16,127

Interest bearing deposits

 

275,551

 

275,551

 

 

 

275,551

Federal funds sold

 

24,738

 

24,738

 

 

 

24,738

Securities:

 

  

 

  

 

 

  

 

Available for sale

 

135,420

 

 

135,420

 

 

135,420

Loans held for sale

3,056

3,056

3,056

Loans, net of allowance for credit losses

 

1,155,407

 

 

 

1,098,555

 

1,098,555

Accrued interest receivable

 

4,086

 

 

4,086

 

 

4,086

Restricted stock

 

4,932

 

 

4,932

 

 

4,932

Other investments

 

4,929

 

 

4,929

 

 

4,929

Bank owned life insurance

18,479

18,479

18,479

Financial liabilities:

 

  

 

  

 

  

 

  

 

  

Deposits

$

1,495,348

$

$

1,168,430

$

320,546

$

1,488,976

Accrued interest payable on deposits

 

217

 

 

217

 

 

217

FHLB advances

 

25,984

 

 

25,354

 

 

25,354

Subordinated notes payable

 

22,191

 

 

27,334

 

 

27,334

Other borrowings

995

995

995

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 on deposits

 

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