Fair Value of Assets and liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 and 2020.

December 31, 2021 (Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Interest-bearing deposits	$	—	$	1,250	$	—	$	1,250
Available for sale investment securities		—		44,772		—		44,772
Equity securities		1,950		—		—		1,950
Total(1)	$	1,950	$	46,022	$	—	$	47,972

(1)Total unrealized losses of $1.0 million, net of tax, was included in accumulated other comprehensive income (loss) for the year ended December 31, 2021 related to these assets.

December 31, 2020 (Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Interest-bearing deposits	$	—	$	1,500	$	—	$	1,500
Available for sale investment securities		—		46,792		—		46,792
Total(1)	$	—	$	48,292	$	—	$	48,292

Total unrealized gains of $1.0 million, net of tax, was included in accumulated other comprehensive income (loss) for the year ended December 31, 2020 related to these assets.

Summary of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a non-recurring basis as of December 31, 2021 and 2020.

December 31, 2021 (Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Equity investments	$	—	$	—	$	9,726	$	9,726
Impaired loans		—		—		35,571		35,571
Loan collateral in process of foreclosure		—		—		37,430		37,430
Total	$	—	$	—	$	82,727	$	82,727

December 31, 2020 (Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets
Equity investments	$	—	$	—	$	9,746	$	9,746
Impaired loans		—		—		62,174		62,174
Loan collateral in process of foreclosure		—		—		54,560		54,560
Total	$	—	$	—	$	126,480	$	126,480

Summary of Valuation Techniques and Significant Unobservable Inputs Used in Non-Recurring Level 3 Fair Value Measurements of Assets and Liabilities

The valuation techniques and significant unobservable inputs used in non-recurring level 3 fair value measurements of assets and liabilities as of December 31, 2021 and 2020.

(Dollars in thousands)	Fair Value at December 31, 2021		Valuation Techniques	Unobservable Inputs	Range (Weighted Average)
Equity investments	$	9,453	Investee financial analysis	Financial condition and operating performance of the borrower (1)	N/A
				Collateral support	N/A
		273	Precedent market transaction	Offering price	$8.73 / share
Impaired loans		35,571	Market approach	Historical and actual loss experience	1.50% - 6.00%
					60% of balance
				Transfer prices (2)	$0.0 - 79.5
				Collateral value	N/A
Loan collateral in process of foreclosure		37,430	Market approach	Transfer prices (2)	$0.0 - 79.5
				Collateral value (3)	$3.6 - 49.8

(Dollars in thousands)	Fair Value at December 31, 2020		Valuation Techniques	Unobservable Inputs	Range (Weighted Average)
Equity investments	$	8,291	Investee financial analysis	Financial condition and operating performance of the borrower (1)	N/A
				Collateral support	N/A
		1,455	Precedent market transaction	Offering price	$8.73 / share
Impaired loans		62,174	Market approach	Historical and actual loss experience	1.50% - 6.00%
					60% of balance
				Transfer prices (2)	$0.6 - 108.7
				Collateral value	N/A
Loan collateral in process of foreclosure		53,128	Market approach	Transfer prices (2)	$0.6 - 108.7
		1,432		Collateral value (3)	$0.7 - 32.3

(1)Includes projections based on revenue, EBITDA, leverage and liquidation amounts. These assumptions are based on a variety of factors, including economic conditions, industry and market developments, market valuations of comparable companies, and company-specific developments, including exit strategies and realization opportunities.

(2)Represents amount net of liquidation costs.

(3)Relates to the recreation portfolio.