Fair Value of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

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
June 30, 2022	(In thousands)
ASSETS
Available for Sale:
U.S. Treasury securities	$	31,300	$	-	$	31,300	$	-
U.S. Government agencies		16,236				16,236
States and political subdivisions		140,268		-		140,268		-
Mortgage-backed securities-government
sponsored entities		253,073		-		253,073		-
Interest rate derivatives		1,167		-		1,167		-
LIABILITIES
Interest rate derivatives		1,167		-		1,167		-
Description	Total		Level 1		Level 2		Level 3
December 31, 2021	(In thousands)
ASSETS
Available for Sale:
U.S. Treasury securities	$	19,351	$		$	19,351	$
U.S. Government agencies		16,011		-		16,011		-
States and political subdivisions		145,867				145,867
Corporate obligations		-		-		-		-
Mortgage-backed securities-government
sponsored entities		225,553		-		225,553		-
Interest rate derivatives		235		-		235		-
LIABILITIES
Interest rate derivatives		235		-		235		-

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
June 30, 2022
Impaired Loans	$	13	$	-	$	-	$	13
Foreclosed Real Estate Owned		346		-		-		346
December 31, 2021
Impaired Loans	$	1,402	$	-	$	-	$	1,402
Foreclosed Real Estate Owned		1,742		-		-		1,742

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)
June 30, 2022
Impaired loans	$	13	Appraisal of collateral(1)	Appraisal adjustments(2)	10.0% (10.00%)
Foreclosed real estate owned	$	346	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, 2021
Impaired loans	$	1,402	Appraisal of collateral(1)	Appraisal adjustments(2)	0%-10.0% (1.12%)
Foreclosed real estate owned	$	1,742	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 June 30, 2022
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents (1)	$	109,666	$	109,666	$	109,666	$	-	$	-
Loans receivable, net		1,387,300		1,386,920		-		-		1,386,920
Mortgage servicing rights		245		539		-		-		539
Regulatory stock (1)		2,396		2,396		2,396		-		-
Bank owned life insurance (1)		43,167		43,167		43,167		-		-
Accrued interest receivable (1)		6,085		6,085		6,085		-		-
Financial liabilities:
Deposits		1,799,830		1,800,622		1,306,678		-		493,944
Short-term borrowings (1)		70,427		70,427		70,427		-		-
Other borrowings		4,412		4,404		-		-		4,404
Accrued interest payable (1)		1,138		1,138		1,138		-		-
Off-balance sheet financial instruments:
Commitments to extend credit and ‎outstanding letters of credit		-		-		-		-		-

	Fair Value Measurements at December 31, 2021
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents (1)	$	206,681	$	206,681	$	206,681	$	-	$	-
Loans receivable, net		1,338,489		1,389,870		-		-		1,389,870
Mortgage servicing rights		289		500		-		-		500
Regulatory stock (1)		3,927		3,927		3,927		-		-
Bank owned life insurance (1)		40,038		40,038		40,038		-		-
Accrued interest receivable (1)		5,889		5,889		5,889		-		-
Financial liabilities:
Deposits		1,756,793		1,759,722		1,228,091		-		531,631
Short-term borrowings (1)		60,822		60,822		60,822		-		-
Other borrowings		29,998		30,221		-		-		30,221
Accrued interest payable (1)		1,203		1,203		1,203		-		-
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.