Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value of Assets and Liabilities [Abstract]

Fair Value, Assets Measured on Recurring Basis

	Fair Value Measurement Using
	Reporting Date
Description	Total		Level 1		Level 2		Level 3
March 31, 2021	(In thousands)
ASSETS
Available for Sale:
U.S. Government agencies	$	3,802	$	-	$	3,802	$	-
States and political subdivisions		96,761		-		96,761		-
Corporate obligations		3,000		-		3,000		-
Mortgage-backed securities-government
sponsored entities		171,661		-		171,661		-
Interest rate derivatives		334		-		334		-
LIABILITIES
Interest rate derivatives		334		-		334		-
Description	Total		Level 1		Level 2		Level 3
December 31, 2020	(In thousands)
ASSETS
Available for Sale:
U.S. Government agencies	$	3,969	$	-	$	3,969	$	-
States and political subdivisions		73,091				73,091
Corporate obligations		3,032		-		3,032		-
Mortgage-backed securities-government
sponsored entities		146,494		-		146,494		-
Interest rate derivatives		276		-		276		-
LIABILITIES
Interest rate derivatives		276		-		276		-

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

			Fair Value Measurement Using Reporting Date
(In thousands)
Description	Total		Level 1		Level 2		Level 3
March 31, 2021
Impaired Loans	$	2,711	$	-	$	-	$	2,711
Foreclosed Real Estate Owned		844		-		-		844
December 31, 2020
Impaired Loans	$	2,662	$	-	$	-	$	2,662
Foreclosed Real Estate Owned		965		-		-		965

Additional Qualitative Information about Level 3 Assets

	Quantitative Information about Level 3 Fair Value Measurements
(dollars in thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range (Weighted Average)
March 31, 2021
Impaired loans	$	2,711	Appraisal of collateral(1)	Appraisal adjustments(2)	0%-100% (10.13%)
Foreclosed real estate owned	$	844	Appraisal of collateral(1)	Liquidation Expenses(2)	7.00% (7.00%)

	Quantitative Information about Level 3 Fair Value Measurements
(dollars in thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range (Weighted Average)
December 31, 2020
Impaired loans	$	2,662	Appraisal of collateral(1)	Appraisal adjustments(2)	0%-10.59% (9.75%)
				Probability of default	0%
Foreclosed real estate owned	$	965	Appraisal of collateral(1)	Liquidation Expenses(2)	7.00% (7.00%)

(1)Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable, less any associated allowance.

(2)Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

Fair Value, by Balance Sheet Grouping

	Fair Value Measurements at March 31, 2021
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents (1)	$	210,499	$	210,499	$	210,499	$	-	$	-
Loans receivable, net		1,407,059		1,491,879		-		-		1,491,879
Mortgage servicing rights		317		476		-		-		476
Regulatory stock (1)		4,043		4,043		4,043		-		-
Bank owned life insurance (1)		39,471		39,471		39,471		-		-
Accrued interest receivable (1)		6,317		6,317		6,317		-		-
Financial liabilities:
Deposits		1,685,188		1,689,827		1,130,880		-		558,947
Short-term borrowings (1)		72,917		72,917		72,917		-		-
Other borrowings		39,366		40,026		-		-		40,026
Accrued interest payable (1)		1,370		1,370		1,370		-		-
Off-balance sheet financial instruments:
Commitments to extend credit and ‎outstanding letters of credit		-		-		-		-		-

	Fair Value Measurements at December 31, 2020
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents (1)	$	111,693	$	111,693	$	111,693	$	-	$	-
Loans receivable, net		1,397,582		1,493,480		-		-		1,493,480
Mortgage servicing rights		337		476		-		-		476
Regulatory stock (1)		3,981		3,981		3,981		-		-
Bank owned life insurance (1)		39,608		39,608		39,608		-		-
Accrued interest receivable (1)		6,232		6,232		6,232		-		-
Financial liabilities:
Deposits		1,535,385		1,540,661		1,001,555		-		539,106
Short-term borrowings (1)		63,303		63,303		63,303		-		-
Other borrowings		42,459		43,452		-		-		43,452
Accrued interest payable (1)		1,601		1,601		1,601		-		-
Off-balance sheet financial instruments:
Commitments to extend credit and ‎outstanding letters of credit		-		-		-		-		-

(1)This financial instrument is carried at cost, which approximates the fair value of the instrument.