Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Financial Instruments, Owned, at Fair Value [Abstract]

Schedule of Carrying Amounts and Fair Values of Financial Instruments

A summary of the carrying amounts and fair values of the Company’s financial instruments at March 31, 2022 and December 31, 2021 is as follows:

					March 31, 2022
					Fair Value Measurements
	March 31, 2022				Quoted Prices in Active Markets for Identical Assets		Other Observable Inputs		Net Significant Unobservable Inputs
(in thousands)	Carrying amount		Fair value		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash and due from banks	$	22,544	$	22,544	$	22,544	$	—	$	—
Federal funds sold and overnight interest-bearing deposits	27,971		27,971		27,971		—		—
Certificates of deposit in other banks	4,701		4,701		4,701		—		—
Available-for-sale securities	286,754		286,754		3,145		283,609		—
Other investment securities	5,490		5,490		56		5,434		—
Loans, net	1,319,644		1,326,968		—		—		1,326,968
Loans held for sale	909		909		—		909		—
Cash surrender value - life insurance	2,524		2,524		—		2,524		—
Interest rate lock commitments	64		64		—		—		64
Forward sale commitments	21		21		—		21		—
Accrued interest receivable	6,241		6,241		6,241		—		—
Total	$	1,676,863	$	1,684,187	$	64,658	$	292,497	$	1,327,032
Liabilities:
Deposits:
Non-interest bearing demand	$	450,225	$	450,225	$	450,225	$	—	$	—
Savings, interest checking and money market	752,164		752,164		752,164		—		—
Time deposits	253,754		252,878		—		—		252,878
Federal funds purchased and securities sold under agreements to repurchase	5,514		5,514		5,514		—		—
Federal Home Loan Bank advances and other borrowings	77,357		77,364		—		77,364		—
Subordinated notes	49,486		42,166		—		42,166		—
Interest rate lock commitments	47		47		—		—		47
Accrued interest payable	298		298		298		—		—
Total	$	1,588,845	$	1,580,656	$	1,208,201	$	119,530	$	252,925

					December 31, 2021
					Fair Value Measurements
	December 31, 2021				Quoted Prices in Active Markets for Identical Assets		Other Observable Inputs		Net Significant Unobservable Inputs
(in thousands)	Carrying amount		Fair value		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash and due from banks	$	17,287	$	17,287	$	17,287	$	—	$	—
Federal funds sold and overnight interest-bearing deposits	142,622		142,622		142,622		—		—
Certificates of deposit in other banks	5,193		5,193		5,193		—		—
Available-for-sale securities	310,870		310,870		3,917		306,953		—
Other investment securities	5,408		5,408		60		5,348		—
Loans, net	1,285,230		1,308,539		—		—		1,308,539
Loans held for sale	2,249		2,249		—		2,249		—
Cash surrender value - life insurance	2,509		2,509		—		2,509		—
Interest rate lock commitments	312		312		—		—		312
Forward sale commitments	12		12		—		12		—
Accrued interest receivable	6,621		6,621		6,621		—		—
Total	$	1,778,313	$	1,801,622	$	175,700	$	317,071	$	1,308,851
Liabilities:
Deposits:
Non-interest bearing demand	$	453,066	$	453,066	$	453,066	$	—	$	—
Savings, interest checking and money market	818,358		818,358		818,358		—		—
Time deposits	245,396		246,025		—		—		246,025
Federal funds purchased and securities sold under agreements to repurchase	23,829		23,829		23,829		—		—
Federal Home Loan Bank advances and other borrowings	77,418		78,152		—		78,152		—
Subordinated notes	49,486		42,908		—		42,908		—
Interest rate lock commitments	26		26		—		—		26
Accrued interest payable	282		282		282		—		—
Total	$	1,667,861	$	1,662,646	$	1,295,535	$	121,060	$	246,051