Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Investments All Other Investments [Abstract]

Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments

The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of March 31, 2022 and December 31, 2021:

March 31, 2022
	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
	(dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents	$	115,710	$	115,710	$	115,710	$	—	$	—
Securities available for sale		322,268		322,268		29,389		292,879		—
Securities held to maturity		30,722		29,909		—		15,370		14,539
Equity securities		383		383		383		—		—
Loans held for investment, net		441,768		431,121		—		—		431,121
Loans held for sale		11,910		11,910		—		11,910		—
Restricted stock		1,428		1,428		1,428		—		—
Loan servicing rights		5,240		6,239		—		6,239		—
Mortgage banking derivatives		1,485		1,485		—		1,216		269
Accrued interest receivable		2,731		2,731		—		—		2,731
FINANCIAL LIABILITIES
Deposits	$	883,498		882,711		—		882,711		—
Short-term borrowings		1,344		1,344		—		1,344		—
Long-term borrowings		29,549		28,248		—		—		28,248
Mortgage banking derivatives		—		—		—		—		—
Accrued interest payable		68		68		—		—		68

December 31, 2021
	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
	(dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents	$	94,410	$	94,357	$	90,924	$	3,433	$	—
Securities available for sale		330,337		330,337		—		330,337		—
Securities held to maturity		30,801		32,045		—		16,898		15,147
Equity securities		392		392		392		—		—
Loans held for investment, net		416,753		412,585		—		—		412,585
Loans held for sale		21,684		21,684		—		21,684		—
Restricted stock		921		921		921		—		—
Loan servicing rights		5,078		5,509		—		5,509		—
Mortgage banking derivatives		1,269		1,269		—		253		1,016
Accrued interest receivable		2,554		2,554		—		—		2,554
FINANCIAL LIABILITIES
Deposits	$	836,752	$	836,567	$	—	$	836,567	$	—
Short-term borrowings		1,081		1,081		—		1,081		—
Long-term borrowings		29,530		30,039		—		—		30,039
Mortgage banking derivatives		50		50		—		50		—
Accrued interest payable		7		7		—		—		7