Fair Value Disclosure (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the financial assets measured at fair value on a recurring basis and reported on the Consolidated Statements of Financial Condition as of the dates indicated, by level within the fair value hierarchy. The majority of the Company’s securities are included in Level 2 of the fair value hierarchy. Fair values for Level 2 securities were primarily determined by a third-party pricing service using both quoted prices for similar assets, when available, and model-based valuation techniques that derive fair value based on market-corroborated data, such as instruments with similar prepayment speeds and default interest rates. The standard inputs that are normally used include benchmark yields of like securities, reportable trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data

including market research publications. There were no transfers from Level 1 to Level 2 and no transfers into or out of Level 3 during the years ended December 31, 2021 and 2020, respectively.

December 31,	Fair Value Hierarchy	2021		2020
(Dollars in Thousands)
Securities:
Available-for-Sale Debt Securities
U.S. Government Agencies	Level 2	$	52,561	$	41,411
Obligations of States and Political Subdivisions	Level 2	18,955		21,993
Mortgage-Backed Securities - Government-Sponsored Enterprises	Level 2	56,559		79,493
Collateralized Mortgage Obligations - Government Sponsored Enterprises	Level 2	86,583		—
Corporate Debt	Level 2	7,450		—
Total Available-for-Sale Debt Securities		222,108		142,897
Equity Securities
Mutual Funds	Level 1	990		1,019
Other	Level 1	1,876		1,484
Total Equity Securities		2,866		2,503
Total Securities		$	224,974	$	145,400

Fair Value Measurement on a Nonrecurring Basis

The following table presents the financial assets measured at fair value on a nonrecurring basis on the Consolidated Statements of Financial Condition as of the dates indicated by level within the fair value hierarchy. The table also presents the significant unobservable inputs used in the fair value measurements. Impaired loans that are collateral dependent are written down to fair value through the establishment of specific reserves. Techniques used to value the collateral that secure the impaired loans include quoted market prices for identical assets classified as Level 1 inputs or observable inputs, employed by certified appraisers, for similar assets classified as Level 2 inputs. In cases where valuation techniques included inputs that are unobservable and are based on estimates and assumptions developed by management based on the best information available under each circumstance, the asset valuation is classified as Level 3 inputs.

Financial Asset	Fair Value Hierarchy	December 31, 2021		Valuation Technique	Significant Unobservable Inputs	Range			Weighted Average
(Dollars in Thousands)
Impaired Loans Individually Assessed	Level 3	$	1,980	Appraisal of Collateral (1)	Appraisal Adjustments (2)	0%	to	50%	15.8%
MSRs	Level 3	141		Discounted Cash Flow	Discount Rate	9%	to	11%	10.2%
					Prepayment Speed	12%	to	24%	16.0%
OREO	Level 3	36		Appraisal of Collateral (1)	Liquidation Expenses (2)	10%	to	30%	26.6%

Financial Asset	Fair Value Hierarchy	December 31, 2020		Valuation Technique	Significant Unobservable Inputs	Range			Weighted Average
(Dollars in Thousands)
Impaired Loans Individually Assessed	Level 3	$	2,944	Appraisal of Collateral (1)	Appraisal Adjustments (2)	0%	to	50%	—
MSRs	Level 3	656		Discounted Cash Flow	Discount Rate	9%	to	11%	10.0%
					Prepayment Speed	12%	to	27%	18.7%
OREO	Level 3	34		Appraisal of Collateral (1)	Liquidation Expenses (2)	10%	to	30%	—

(1)    Fair value is generally determined through independent appraisals of the underlying collateral, which may include various Level 3 inputs, which are not identifiable.

(2)    Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of appraisal adjustments and liquidation expense are presented as a percent of the appraisal.

Fair Value, by Balance Sheet Grouping

The estimated fair values of the Company’s financial instruments at the dates indicated are as follows:

		2021				2020
December 31,	Fair Value Hierarchy	Carrying Value		Fair Value		Carrying Value		Fair Value
(Dollars in Thousands)
Financial Assets:
Cash and Due From Banks:
Interest Bearing	Level 1	$	63,968	$	63,968	$	145,636	$	145,636
Non-Interest Bearing	Level 1	55,706		55,706		15,275		15,275
Securities	See Above	224,974		224,974		145,400		145,400
Loans, Net	Level 3	1,009,214		1,039,980		1,031,982		1,073,633
Restricted Stock	Level 2	3,403		3,403		3,984		3,984
Mortgage Servicing Rights	Level 3	730		773		656		656
Accrued Interest Receivable	Level 2	3,350		3,350		3,872		3,872
Financial Liabilities:
Deposits	Level 2	1,226,613		1,227,653		1,224,569		1,231,606
Short-term Borrowings	Level 2	39,266		39,266		41,055		41,055
Other Borrowed Funds
FHLB Borrowings	Level 2	3,000		3,000		8,000		8,067
Subordinated Debt	Level 2	14,601		15,000		—		—
Accrued Interest Payable	Level 2	486		486		767		767