Fair Value (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value [Abstract]

Assets And Liabilities Measured At Fair Value On A Recurring Basis, Including Financial Assets And Liabilities

	Fair Value Measurements at March 31, 2021 using Significant Other Observable Inputs
	(Level 2)
	(unaudited)
Financial Assets:
Securities available for sale:
Issued by U.S. government-sponsored entities and agencies:
U.S. Treasury	$	9,680
Mortgage-backed securities - residential		58
Total securities available for sale	$	9,738
Loans held for sale	$	430,453
Derivative assets	$	998
TBA Mortgage-back securities	$	5,734
Financial Liabilities:
Derivative liabilities	$	998
Interest rate lock commitments	$	613

	Fair Value Measurements at December 31, 2020 using Significant Other Observable Inputs
	(Level 2)
Financial Assets:
Securities available for sale:
Issued by U.S. government-sponsored entities and agencies:
U.S. Treasury	$	8,636
Mortgage-backed securities - residential		65
Total securities available for sale	$	8,701
Loans held for sale	$	283,165
Derivative assets	$	1,944
Interest rate lock commitments	$	18,101
Financial Liabilities:
Derivative liabilities	$	1,944
TBA Mortgage-backed securities	$	2,690

Assets Measured At Fair Value On A Non-Recurring Basis

Fair Value Measurements at December 31, 2020 Using
Significant Unobservable Inputs (Level 3)
Impaired loans:
Commercial	$	190
Total impaired loans	$	190

Financial Instruments Measured At Fair Value On A Non-Recurring Basis

		Fair Value	Valuation Technique(s)	Unobservable Inputs	(Range) Weighted Average
Impaired loans:
Commercial	$	190	Comparable sales approach	Adjustment for differences between the comparable market transactions	65.00%

Aggregate Fair Value, Contractual Balance And Gain Or Loss

	March 31, 2021		December 31, 2020
	(unaudited)
Aggregate fair value	$	430,453	$	283,165
Contractual balance		428,626		274,401
Gain	$	1,827	$	8,764

Total Amount Of Gains And Losses From Changes In Fair Value Included In Earnings

	Three months ended March 31,
	2021		2020
	(unaudited)
Interest income	$	2,220	$	1,197
Interest expense		-		-
Change in fair value		(6,937)		1,235
Total change in fair value	$	(4,717)	$	2,432

Carrying Amounts And Estimated Fair Values Of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at March 31, 2021 were as follows:

	Fair Value Measurements at March 31, 2021 Using:
	Carrying
(unaudited)	Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	125,814	$	125,814	$	-	$	-	$	125,814
Interest-bearing deposits in other financial institutions		100		100		-		-		100
Securities available for sale		9,738		-		9,738		-		9,738
Equity Securities		5,000		-		5,000		-		5,000
Loans held for sale		430,453		-		430,453		-		430,453
Loans and leases, net		966,802		-		-		976,577		976,577
FHLB and FRB stock		6,164		n/a		n/a		n/a		n/a
Accrued interest receivable		5,439		3		78		5,358		5,439
Derivative assets		998		-		998		-		998
TBA mortgage-back securities		5,734		-		5,734		-		5,734
Financial liabilities
Deposits	$	(1,320,380)	$	(668,917)	$	(654,737)	$	-	$	(1,323,654)
FHLB advances and other borrowings		(137,894)		-		(138,548)		-		(138,548)
Advances by borrowers for taxes and insurance		(921)		-		-		(921)		(921)
Subordinated debentures		(14,854)		-		(16,052)		-		(16,052)
Accrued interest payable		(631)		-		(631)		-		(631)
Derivative liabilities		(998)		-		(998)		-		(998)
TBA mortgage-back securities		(613)		-		(613)		-		(613)

The carrying amounts and estimated fair values of financial instruments at December 31, 2020 were as follows:

	Fair Value Measurements at December 31, 2020 Using:
	Carrying
	Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	221,594	$	221,594	$	-	$	-	$	221,594
Interest-bearing deposits in other financial institutions		100		100		-		-		100
Securities available for sale		8,701		-		8,701		-		8,701
Equity Securities		5,000		-		-		5,000		5,000
Loans held for sale		283,165		-		283,165		-		283,165
Loans and leases, net		895,344		-		-		905,030		905,030
FHLB and FRB stock		5,847		n/a		n/a		n/a		n/a
Accrued interest receivable		4,584		1		36		4,547		4,584
Derivative assets		1,944		-		1,944		-		1,944
Interest rate lock commitments		18,101		-		18,101		-		18,101
Financial liabilities
Deposits	$	(1,113,070)	$	(554,650)	$	(565,089)	$	-	$	(1,119,739)
FHLB advances and other borrowings		(214,426)		-		(215,531)		-		(215,531)
Advances by borrowers for taxes and insurance		(1,029)		-		-		(1,029)		(1,029)
Subordinated debentures		(14,844)		-		(16,325)		-		(16,325)
Accrued interest payable		(498)		-		(498)		-		(498)
Derivative liabilities		(1,944)		-		(1,944)		-		(1,944)
TBA mortgage-backed securities		(2,690)		-		(2,690)		-		(2,690)