Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value of Financial Instruments

Schedule of summary of the carrying amounts and fair values of financial instruments

					December 31, 2019
					Fair Value Measurements
						Quoted Prices
					in Active				Net
					Markets for		Other		Significant
	December 31, 2019				Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
(in thousands)	amount		value		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash and due from banks	$	22,576	$	22,576	$	22,576	$	—	$	—
Federal funds sold and overnight interest-bearing deposits		55,545		55,545		55,545		—		—
Certificates of deposit in other banks		10,862		10,862		10,862		—		—
Available for sale securities		175,093		175,093		995		174,098		—
Other investment securities		5,808		5,808		13		5,795		—
Loans, net		1,156,748		1,148,339		—		—		1,148,339
Mortgage servicing rights		2,482		2,482		—		—		2,482
Cash surrender value - life insurance		2,398		2,398		—		2,398		—
Accrued interest receivable		6,481		6,481		6,481		—		—
Total	$	1,437,993	$	1,429,584	$	96,472	$	182,291	$	1,150,821
Liabilities:
Deposits:
Non-interest bearing demand	$	261,166	$	261,166	$	261,166	$	—	$	—
Savings, interest checking and money market		614,331		614,331		614,331		—		—
Time deposits		311,024		311,489		—		—		311,489
Federal funds purchased and securities sold under agreements to repurchase		27,272		27,272		27,272		—		—
Federal Home Loan Bank advances and other borrowings		96,919		97,833		—		97,833		—
Subordinated notes		49,486		43,640		—		43,640		—
Operating lease liabilities		2,224		2,224				2,224
Accrued interest payable		1,136		1,136		1,136		—		—
Total	$	1,363,558	$	1,359,091	$	903,905	$	143,697	$	311,489

					December 31, 2018
					Fair Value Measurements
					Quoted Prices
					in Active				Net
					Markets for		Other		Significant
	December 31, 2018				Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
(in thousands)	amount		value		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash and due from banks	$	23,687	$	23,687	$	23,687	$	—	$	—
Federal funds sold and overnight interest-bearing deposits		18,396		18,396		18,396		—		—
Certificates of deposit in other banks		12,247		12,247		12,247		—		—
Available-for-sale securities		218,205		218,205		1,952		216,253		—
Other investment securities		5,675		5,675		12		5,663		—
Loans, net		1,134,975		1,115,003		—		—		1,115,003
Mortgage servicing rights		2,931		2,931		—		—		2,931
Cash surrender value - life insurance		2,542		2,542		—		2,542		—
Accrued interest receivable		6,162		6,162		6,162		—		—
	$	1,424,820	$	1,404,848	$	62,456	$	224,458	$	1,117,934
Liabilities:
Deposits:
Non-interest bearing demand	$	262,857	$	262,857	$	262,857	$	—	$	—
Savings, interest checking and money market		614,040		614,040		614,040		—		—
Time deposits		321,571		318,949		—		—		318,949
Federal funds purchased and securities sold under agreements to repurchase		24,647		24,647		24,647		—		—
Federal Home Loan Bank advances and other borrowings		95,153		94,326		—		94,326		—
Subordinated notes		49,486		45,749		—		45,749		—
Accrued interest payable		1,035		1,035		1,035		—		—
	$	1,368,789	$	1,361,603	$	902,579	$	140,075	$	318,949