Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Assets Measured On Recurring Basis

			Carrying Value at September 30, 2022 (in thousands)
			Quoted Prices		Significant		Significant
			in Active		Other		Unobservable
		Balance as of	Markets for		Observable		Inputs
		September 30,	Identical Assets		Inputs		(Level 3)
Description		2022	(Level 1)		(Level 2)
US Treasuries	$	4,721	$	—	$	4,721	$	—
US agency obligations		62,139		—		62,139		—
Mortgage-backed securities		70,394		—		70,394		—
Municipals		37,799		—		37,799		—
Corporates		16,078		—		16,078		—
Total available-for-sale securities	$	191,131	$	—	$	191,131	$	—
Forward sales commitments - asset		429		—		—		429
Total assets at fair value	$	191,560	$	—	$	191,131	$	429
IRLCs - liability		(225)		—		—		(225)

			Carrying Value at December 31, 2021 (in thousands)
			Quoted Prices		Significant		Significant
			in Active		Other		Unobservable
	Balance as of		Markets for		Observable		Inputs
	December 31,		Identical Assets		Inputs		(Level 3)
Description	2021		(Level 1)		(Level 2)
US Treasuries	$	2,002	$	—	$	2,002	$	—
US agency obligations		58,470		—		58,470		—
Mortgage-backed securities		37,438		—		37,438		—
Municipals		50,204		—		50,204		—
Corporates		13,153		—		13,153		—
Total available-for-sale securities	$	161,267	$	—	$	161,267	$	—
IRLCs – asset		144		—		—		144
Total assets at fair value	$	161,411	$	—	$	161,267	$	144

Impaired Loans And Other Real Estate Owned Measured At Fair Value On A Nonrecurring Basis

			Carrying Value at September 30, 2022
Description	Balance as of September 30, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans*	$	1,364	$	—	$	—	$	1,364
Other real estate owned		566		—		—		566

* Includes loans charged down to the net realizable value of the collateral.

			Carrying Value at December 31, 2021
Description	Balance as of December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans*	$	1,802	$	—	$	—	$	1,802
Other real estate owned		761		—		—		761

* Includes loans charged down to the net realizable value of the collateral.

Fair Value Carrying And Notional Amounts

		Fair Value Measurements at September 30, 2022 using
		Quoted Prices	Significant
		in Active	Other	Significant
		Markets for	Observable	Unobservable
	Carrying	Identical Assets	Inputs	Inputs
Assets	Amounts	(Level 1)	(Level 2)	(Level 3)	Balance
Cash and due from banks	$            38,622	$            38,622	$                      -	$                      -	$            38,622
Federal funds sold	42,398	42,398	-	-	42,398
Securities
Available-for-sale	191,131	-	191,131	-	191,131
Held-to-maturity	3,643	-	3,192	-	3,192
Restricted stock	1,387	-	1,387	-	1,387
Loans, net (1)	614,117	-	-	576,085	576,085
Loans held for sale	3,239	-	3,239	-	3,239
Interest receivable	2,382	-	2,382	-	2,382
BOLI	19,123	-	19,123	-	19,123
Derivatives – Forward Sales Commitments	429	-	-	429	429
Liabilities
Deposits	$          883,069	$                      -	$          883,188	$                      -	$          883,188
Capital notes	10,037	-	-	9,228	9,228
Other borrowings	10,596	-	-	10,077	10,077
Interest payable	37	-	37	-	37
Derivatives - IRLCs	225	-	-	225	225
		Fair Value Measurements at December 31, 2021 using
		Quoted Prices	Significant
		in Active	Other	Significant
		Markets for	Observable	Unobservable
	Carrying	Identical Assets	Inputs	Inputs
Assets	Amounts	(Level 1)	(Level 2)	(Level 3)	Balance
Cash and due from banks	$            29,337	$            29,337	$                      -	$                      -	$            29,337
Federal funds sold	153,816	153,816	-	-	153,816
Securities
Available-for-sale	161,267	-	161,267	-	161,267
Held-to-maturity	3,655	-	4,006	-	4,006
Restricted stock	1,324	-	1,324	-	1,324
Loans, net (1)	576,469	-	-	565,543	565,543
Loans held for sale	1,628	-	1,628	-	1,628
Interest receivable	2,064	-	2,064	-	2,064
BOLI	18,785	-	18,785	-	18,785
Derivatives - IRLCs	144	-	-	144	144
Liabilities
Deposits	$          887,056	$                      -	$          887,955	$                      -	$          887,955
Capital notes	10,031	-	-	10,712	10,712
Other borrowings	10,985	-	-	11,467	11,467
Interest payable	46	-	46	-	46

(1) Carrying amount is net of unearned income and the Allowance.  

Fair Value, Recurring [Member]

Information Regarding Quantitative Inputs Used To Value Assets Classified As Level 3

The following table provides additional quantitative information about assets measured at fair value on a recurring basis and for which we have utilized Level 3 inputs to determine fair value:

	Quantitative information about Level 3 Fair Value Measurements for September 30, 2022
	(dollars in thousands)
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (1)
Assets
IRLCs – liability	$	(225)	Market approach	Range of pull through rate	70% - 100% (85%)
Forward Sales Commitments – asset		429	Market approach	Range of pull through rate	70% - 100% (85%)

(1)    Weighted based on the relative value of the instruments

	Quantitative information about Level 3 Fair Value Measurements for December 31, 2021
	(dollars in thousands)
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (1)
Assets
IRLCs - asset	$	144	Market approach	Range of pull through rate	70% - 100% (85%)

(1)    Weighted based on the relative value of the instruments

Fair Value, Nonrecurring [Member]

Information Regarding Quantitative Inputs Used To Value Assets Classified As Level 3

	Quantitative information about Level 3 Fair Value Measurements for September 30, 2022
	(dollars in thousands)
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (1)
Assets
Impaired loans	$	1,364	Discounted appraised value	Selling cost	0% - 10% (8%)
				Discount for lack of marketability and age of appraisal	0% - 20% (6%)
OREO		566	Discounted appraised value	Selling cost	10%
				Discount for lack of marketability and age of appraisal	0% - 25% (15%)

(1)Weighted based on the relative value of the instruments.

‎

Note 5 – Fair Value Measurements (continued)

	Quantitative information about Level 3 Fair Value Measurements for December 31, 2021
	(dollars in thousands)
	Fair Value		Valuation Technique(s)	Unobservable Input	Range (Weighted Average) (1)
Assets
Impaired loans	$	1,802	Discounted appraised value	Selling cost	0% - 10% (8%)
				Discount for lack of marketability and age of appraisal	0% - 20% (6%)
OREO		761	Discounted appraised value	Selling cost	10%
				Discount for lack of marketability and age of appraisal	0% - 27% (26%)

(1)Weighted based on the relative value of the instruments.