Assets and Liabilities Measured at Fair Value on Recurring Basis |
The following table presents investment securities that are measured at fair value on a recurring basis as of December 31, 2020:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Quoted Prices in Active Markets for Identical Assets |
|
|
Significant Other Observable Inputs |
|
|
Significant Unobservable Inputs |
|
|
|
|
|
|
(Level 1) |
|
|
(Level 2) |
|
|
(Level 3) |
|
|
Totals |
|
Securities available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Obligations of U.S. Government agencies |
|
$ |
— |
|
|
$ |
12,061 |
|
|
$ |
— |
|
|
$ |
12,061 |
|
Mortgage-backed securities |
|
|
— |
|
|
|
561,983 |
|
|
|
— |
|
|
|
561,983 |
|
State, County, Municipals |
|
|
— |
|
|
|
104,197 |
|
|
|
— |
|
|
|
104,197 |
|
|
|
|
— |
|
|
|
508 |
|
|
|
— |
|
|
|
508 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
678,749 |
|
|
$ |
— |
|
|
$ |
678,749 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| The following table presents investment securities that are measured at fair value on a recurring basis as of December 31, 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Quoted Prices in Active Markets for Identical Assets |
|
|
Significant Other Observable Inputs |
|
|
Significant Unobservable Inputs |
|
|
|
|
|
|
(Level 1) |
|
|
(Level 2) |
|
|
(Level 3) |
|
|
Totals |
|
Securities available for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Obligations of U.S. Government agencies |
|
$ |
— |
|
|
$ |
97,111 |
|
|
$ |
— |
|
|
$ |
97,111 |
|
Mortgage-backed securities |
|
|
— |
|
|
|
306,900 |
|
|
|
— |
|
|
|
306,900 |
|
State, County, Municipals |
|
|
— |
|
|
|
60,372.00 |
|
|
|
— |
|
|
|
60,372 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
464,383 |
|
|
$ |
— |
|
|
$ |
464,383 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset Measured at Fair Value on Nonrecurring Basis |
The following table presents assets measured at fair value on a nonrecurring basis during December 31, 2020 and 2019 and were still held at those respective dates:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
in Active Markets for Identical Assets |
|
|
Significant Other Observable Inputs |
|
|
Significant Unobservable Inputs |
|
|
|
|
|
|
(Level 1) |
|
|
(Level 2) |
|
|
(Level 3) |
|
|
Totals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,013 |
|
|
$ |
2,013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,013 |
|
|
$ |
2,013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
4,576 |
|
|
$ |
4,576 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
4,576 |
|
|
$ |
4,576 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying Value and Estimated Fair Value of Financial Instruments |
The following represents the carrying value and estimated fair value of the Company’s financial instruments at December 31, 2020 and December 31, 2019:
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying Value |
|
|
Quoted Prices in Active Markets for Identical Assets |
|
|
Significant Other Observable Inputs |
|
|
Significant Unobservable Inputs |
|
|
Total Fair Value |
|
|
|
|
|
|
(Level 1) |
|
|
(Level 2) |
|
|
(Level 3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
16,840 |
|
|
$ |
16,840 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
16,840 |
|
Interest bearing deposits with banks |
|
|
25,468 |
|
|
|
25,468 |
|
|
|
— |
|
|
|
— |
|
|
|
25,468 |
|
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
678,749 |
|
|
|
— |
|
|
|
678,749 |
|
|
|
— |
|
|
|
678,749 |
|
|
|
|
647,521 |
|
|
|
— |
|
|
|
— |
|
|
|
638,362 |
|
|
|
638,362 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,095,189 |
|
|
|
861,552 |
|
|
|
234,909 |
|
|
|
— |
|
|
|
1,096,461 |
|
Securities Sold under Agreement to Repurchase |
|
|
196,272 |
|
|
|
196,272 |
|
|
|
— |
|
|
|
— |
|
|
|
196,272 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
25,000 |
|
|
|
25,000 |
|
|
|
— |
|
|
|
— |
|
|
|
25,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying Value |
|
|
Quoted Prices in Active Markets for Identical Assets |
|
|
Significant Other Observable Inputs |
|
|
Significant Unobservable Inputs |
|
|
Total Fair Value |
|
|
|
|
|
|
(Level 1) |
|
|
(Level 2) |
|
|
(Level 3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
15,937 |
|
|
$ |
15,937 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
15,937 |
|
Interest bearing deposits with banks |
|
|
58,557 |
|
|
|
58,557 |
|
|
|
— |
|
|
|
— |
|
|
|
58,557 |
|
|
|
|
1,600 |
|
|
|
1,600 |
|
|
|
— |
|
|
|
— |
|
|
|
1,600 |
|
|
|
|
464,383 |
|
|
|
— |
|
|
|
464,383 |
|
|
|
— |
|
|
|
464,383 |
|
|
|
|
573,312 |
|
|
|
— |
|
|
|
— |
|
|
|
569,640 |
|
|
|
569,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
898,996 |
|
|
|
642,825 |
|
|
|
258,100 |
|
|
|
— |
|
|
|
900,925 |
|
Securities Sold under Agreement to Repurchase |
|
|
170,410 |
|
|
|
170,410 |
|
|
|
— |
|
|
|
— |
|
|
|
170,410 |
|
|