Fair Value (Tables)

6 Months Ended

Jun. 30, 2022


	Fair Value Measurements at ‎ June 30, 2022 using Significant ‎Other Observable Inputs
	(Level 2)
	(unaudited)
Financial Assets:
Securities available for sale:
Corporate debt	$	8,250
Issued by U.S. government-sponsored entities and agencies:
U.S. Treasury		3,944
Mortgage-backed securities - residential		26
Total securities available for sale	$	12,220
Derivative assets	$	2,834

Financial Liabilities:
Derivative liabilities	$	2,834


	Fair Value Measurements at ‎ December 31, 2021 using Significant ‎Other Observable Inputs
	(Level 2)
Financial Assets:
Securities available for sale:
Corporate debt	$	9,750
Issued by U.S. government-sponsored entities and agencies:
U.S. Treasury		6,561
Mortgage-backed securities - residential		36
Total securities available for sale	$	16,347
Loans held for sale	$	27,988
Derivative assets	$	538
Interest rate lock commitments	$	555
Financial Liabilities:
Derivative liabilities		538
TBA Mortgage-backed securities	$	73

The carrying amounts and estimated fair values of financial instruments at June 30, 2022 were as follows:


	Fair Value Measurements at June 30, 2022 Using:
	Carrying
(unaudited)	Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	154,850	$	154,850	$	-	$	-	$	154,850
Interest-bearing deposits in other financial institutions		100		100		-		-		100
Securities available for sale		12,220		-		12,220		-		12,220
Equity Securities		5,000		-		5,000		-		5,000
Loans and leases, net		1,378,227		-		-		1,354,706		1,354,706
FHLB and FRB stock		7,332		n/a		n/a		n/a		n/a
Accrued interest receivable		4,991		12		181		4,798		4,991
Derivative assets		2,834		-		2,834		-		2,834

Financial liabilities
Deposits	$	(1,377,489)	$	(747,367)	$	(620,566)	$	-	$	(1,367,933)
FHLB advances and other borrowings		(75,594)		-		(73,724)		-		(73,724)
Advances by borrowers for taxes and insurance		(1,879)		-		-		(1,879)		(1,879)
Subordinated debentures		(14,903)		-		(13,648)		-		(13,648)
Accrued interest payable		(281)		-		(281)		-		(281)
Derivative liabilities		(2,834)		-		(2,834)		-		(2,834)

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



	Fair Value Measurements at December 31, 2021 Using:
	Carrying
	Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	166,591	$	166,591	$	-	$	-	$	166,591
Interest-bearing deposits in other financial institutions		100		100		-		-		100
Securities available for sale		16,347		-		16,347		-		16,347
Equity Securities		5,000		-		5,000		-		5,000
Loans held for sale		27,988		-		27,988		-		27,988
Loans and leases, net		1,214,149		-		-		1,231,228		1,231,228
FHLB and FRB stock		7,315		n/a		n/a		n/a		n/a
Accrued interest receivable		4,143		2		91		3,947		4,040
Derivative assets		538		-		538		-		538
Interest rate lock commitments		555		-		555		-		555

Financial liabilities
Deposits	$	(1,246,352)	$	(661,818)	$	(585,214)	$	-	$	(1,247,032)
FHLB advances and other borrowings		(89,727)		-		(90,670)		-		(90,670)
Advances by borrowers for taxes and insurance		(2,752)		-		-		(2,752)		(2,752)
Subordinated debentures		(14,883)		-		(16,051)		-		(16,051)
Accrued interest payable		(228)		-		(228)		-		(228)
Derivative liabilities		(538)		-		(538)		-		(538)
TBA mortgage-backed securities		(73)		-		(73)		-		(73)