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Fair Value (Tables)
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring Basis
Assets and liabilities measured at fair value on a recurring basis, segregated by fair value hierarchy level, are summarized below:
December 31, 2020
Fair Value Measurements Using 
Level 1Level 2Level 3Total
 (In Thousands)
Assets:   
Securities available-for-sale:
U.S. government agency securities - government-sponsored enterprises$— $22,629 $— $22,629 
Municipal securities— 24,779 — 24,779 
Residential mortgage-backed securities - government issued— 10,403 — 10,403 
Residential mortgage-backed securities - government-sponsored enterprises— 105,006 — 105,006 
Commercial mortgage-backed securities - government issued— 5,464 — 5,464 
Commercial mortgage-backed securities - government-sponsored enterprises— 13,365 — 13,365 
Other securities— 2,279 — 2,279 
Interest rate swaps— 49,377 — 49,377 
Liabilities:   
Interest rate swaps— 54,927 — 54,927 
December 31, 2019
 Fair Value Measurements Using 
Level 1Level 2Level 3Total
 (In Thousands)
Assets:   
Securities available-for-sale:
U.S. government agency securities - government-sponsored enterprises$— $23,758 $— $23,758 
Municipal securities— 160 — 160 
Residential mortgage-backed securities - government issued— 16,348 — 16,348 
Residential mortgage-backed securities - government-sponsored enterprises— 112,002 — 112,002 
Commercial mortgage-backed securities - government issued— 6,663 — 6,663 
Commercial mortgage-backed securities - government-sponsored enterprises— 11,967 — 11,967 
Other securities— 2,235 — 2,235 
Interest rate swaps— 18,346 — 18,346 
Liabilities:    
Interest rate swaps— 20,885 — 20,885 
Fair Value Measurements, Nonrecurring Basis
Assets and liabilities measured at fair value on a non-recurring basis, segregated by fair value hierarchy, are summarized below:
 December 31, 2020
 Fair Value Measurements Using
 Level 1Level 2Level 3Total
 (In Thousands)
Impaired loans$— $— $17,203 $17,203 
Foreclosed properties— — 34 34 
Loan servicing rights— — 1,325 1,325 
 December 31, 2019
 Fair Value Measurements Using
 Level 1Level 2Level 3Total
 (In Thousands)
Impaired loans$— $— $15,699 $15,699 
Foreclosed properties— — 2,919 2,919 
Loan servicing rights— — 1,195 1,195 
Fair Value, by Balance Sheet Grouping
The Corporation is required to disclose estimated fair values for its financial instruments. Fair value estimates, methods and assumptions, consistent with exit price concepts for fair value measurements, are set forth below:
December 31, 2020
Carrying
Amount
Fair Value
TotalLevel 1Level 2Level 3
 (In Thousands)
Financial assets:  
Cash and cash equivalents$56,909 $56,909 $56,909 $— $— 
Securities available-for-sale183,925 183,925 — 183,925 — 
Securities held-to-maturity26,374 27,333 — 27,333 — 
Loans held for sale8,695 9,478 — 9,478 — 
Loans and lease receivables, net2,117,449 2,121,107 — — 2,121,107 
Federal Home Loan Bank stock13,578 N/AN/AN/AN/A
Accrued interest receivable8,564 8,564 8,564 — — 
Interest rate swaps49,377 49,377 — 49,377 — 
Financial liabilities: 
Deposits1,855,516 1,856,910 1,743,314 113,596 — 
Federal Home Loan Bank advances and other borrowings419,167 429,347 — 429,347 — 
Junior subordinated notes10,062 9,986 — — 9,986 
Accrued interest payable1,578 1,578 1,578 — — 
Interest rate swaps54,927 54,927 — 54,927 — 
Off-balance sheet items: 
Standby letters of credit75 75 — — 75 
    N/A = The fair value is not applicable due to restrictions placed on transferability
 December 31, 2019
Carrying
Amount
Fair Value
TotalLevel 1Level 2Level 3
 (In Thousands)
Financial assets:  
Cash and cash equivalents$67,102 $67,102 $61,202 $5,900 $— 
Securities available-for-sale173,133 173,133 — 173,133 — 
Securities held-to-maturity32,700 33,188 — 33,188 — 
Loans held for sale5,205 5,673 — 5,673 — 
Loans and lease receivables, net1,695,115 1,706,201 — — 1,706,201 
Federal Home Loan Bank stock7,953 N/AN/AN/AN/A
Accrued interest receivable5,760 5,760 5,760 — — 
Interest rate swaps18,346 18,346 — 18,346 — 
Financial liabilities: 
Deposits1,530,379 1,532,517 1,241,891 290,626 — 
Federal Home Loan Bank advances and other borrowings319,382 319,507 — 319,507 — 
Junior subordinated notes10,047 9,970 — — 9,970 
Accrued interest payable2,882 2,882 2,882 — — 
Interest rate swaps20,885 20,885 — 20,885 — 
Off-balance sheet items: 
Standby letters of credit63 63 — — 63