Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis are as follows (in thousands):

			Quoted Prices in		Significant		Significant
			Active Markets		Other		Other
			for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
Description	Fair Value		(Level 1)		(Level 2)		(Level 3)
June 30, 2021:
Assets:
Securities available-for-sale:
U.S. Treasury		6,438		—		6,438		—
U.S. Government-sponsored enterprises (GSEs)	$	72,620	$	—	$	72,620	$	—
Municipal securities		88,908		—		88,908		—
Other debt securities		29,351		—		29,351		—
Mortgage-backed securities (GSEs)		53,500		—		53,500		—
Total securities available-for-sale	$	250,817	$	—	$	250,817	$	—
Liabilities:
Derivative financial instruments	$	4,468	$	—	$	4,468	$	—
December 31, 2020:
Assets:
Securities available-for-sale:
U.S. Government-sponsored enterprises (GSEs)	$	30,530	$	—	$	30,530	$	—
Municipal securities		91,989		—		91,989		—
Other debt securities		25,118		—		25,118		—
Mortgage-backed securities (GSEs)		67,997		—		67,997		—
Total securities available-for-sale	$	215,634	$	—	$	215,634	$	—
Liabilities:
Derivative financial instruments	$	6,174		—	$	6,174		—

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

			Quoted Prices in		Significant		Significant
			Active Markets		Other		Other
			for Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
June 30, 2021:
Impaired loans	$	1,737	$	—	$	—	$	1,737
Other real estate owned		2,499		—		—		2,499
December 31, 2020:
Impaired loans	$	2,455	$	—	$	—	$	2,455
Other real estate owned		4,619		—		—		4,619

Fair Value Measurement Inputs and Valuation Techniques

For Level 3 assets measured at fair value on a non-recurring basis, the significant unobservable inputs used in the fair value measurements are presented below (dollars in thousands):

					Weighted
			Valuation	Significant Other	Average of
	Fair Value		Technique	Unobservable Input	Input
June 30, 2021:
Impaired loans	$	1,737	Appraisal	Appraisal discounts	38	%
Other real estate owned		2,499	Appraisal	Appraisal discounts	25	%
December 31, 2020:
Impaired loans	$	2,455	Appraisal	Appraisal discounts	9	%
Other real estate owned		4,619	Appraisal	Appraisal discounts	22	%

Fair Value, by Balance Sheet Grouping

The carrying amount and estimated fair value of the Company’s financial instruments are as follows (in thousands):

	Fair Value Measurements Using
	Carrying								Estimated
	Amount		Level 1		Level 2		Level 3		Fair Value
June 30, 2021:
Assets:
Cash and cash equivalents	$	673,515	$	673,515	$	—	$	—	$	673,515
Securities available-for-sale		250,817		—		250,817		—		250,817
Other investments		14,584		N/A		N/A		N/A		N/A
Loans and leases, net and loans held for sale		2,454,342		—		—		2,455,130		2,455,130
Liabilities:
Noninterest-bearing demand deposits		807,560		—		807,560		—		807,560
Interest-bearing demand deposits		702,470		—		702,470		—		702,470
Money market and savings deposits		1,140,029		—		1,140,029		—		1,140,029
Time deposits		489,413		—		492,243		—		492,243
Borrowings		78,834		—		79,847		—		79,847
Subordinated debt		39,388		—		—		41,302		41,302
Derivative financial instruments		4,468		—		4,468		—		4,468
December 31, 2020:
Assets:
Cash and cash equivalents	$	481,719	$	481,719	$	—	$	—	$	481,719
Securities available-for-sale		215,634		—		215,634		—		215,634
Other investments		14,794		N/A		N/A		N/A		N/A
Loans and leases, net and loans held for sale		2,375,618		—		—		2,377,581		2,377,581
Liabilities:
Noninterest-bearing demand deposits		685,957		—		685,957		—		685,957
Interest-bearing demand deposits		649,129		—		649,129		—		649,129
Money market and savings deposits		919,631		—		919,631		—		919,631
Time deposits		550,498		—		554,120		—		554,120
Borrowings		81,199		—		82,892		—		82,892
Subordinated debt		39,346		—		—		40,550		40,550
Derivative financial instruments		6,174		—		6,174		—		6,174