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Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis
Assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 are summarized below:
Fair Value Measure on a Recurring Basis
($ in thousands)
September 30, 2021
Total
Fair Value		Quoted
Prices in
Active Markets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities$27,214 $— $27,214 $— 
Residential collateralized mortgage obligations$75,321 $— $75,321 $— 
Other investment securities:
Mutual fund - CRA qualified$3,734 $3,734 $— $— 
 
December 31, 2020
U.S. Government sponsored agency securities$1,005 $— $1,005 $— 
U.S. Government agencies or sponsored agency securities:
Residential mortgage-backed securities$19,704 $— $19,704 $— 
Residential collateralized mortgage obligations$71,082 $— $71,082 $— 
Other investment securities:
Mutual fund - CRA qualified$3,773 $3,773 $— $— 
Summary of Fair Value Hierarchy and Fair Value of Assets that Were Still Held and Had Fair Value Adjustments Measured On a Nonrecurring Basis
The following table presents the fair value hierarchy and fair value of assets that were still held and had fair value adjustments measured on a nonrecurring basis as of September 30, 2021 and December 31, 2020:
($ in thousands)Fair Value Measure on a Nonrecurring Basis
September 30, 2021
Total
Fair Value		Quoted
Prices in
Active Markets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Impaired loans$443 $— $— $443 
December 31, 2020
Impaired loans$87 $— $— $87 
Summary of Increase (Decrease) In Value of Certain Assets Held at End of Respective Reporting Periods Presented for Which a Nonrecurring Fair Value Adjustment
The following table presents the increase (decrease) in value of certain assets held at the end of the respective reporting periods presented for which a nonrecurring fair value adjustment was recognized during the period presented:
($ in thousands)Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Impaired loans$(106)$— $(99)$(56)
Summary of Information about Significant Unobservable Inputs Utilized in Company's Nonrecurring Level 3 Fair Value Measurements
The following table presents information about significant unobservable inputs utilized in the Company’s nonrecurring Level 3 fair value measurements as of September 30, 2021 and December 31, 2020:
September 30, 2021
($ in thousands)Fair Value
Measurements
(Level 3)		Valuation
Techniques		Unobservable
Inputs		Range of
Inputs
Weighted-
Average of
Inputs (1)
Impaired loans:
Commercial and industrial (2)
$— 
Income approach -
discounted cash flows
Discount rate3.8%3.8%
SBA loans—real estate$47 Market approach
Market data
comparison
(13.0)%
to 18.0%
(0.1)%
SBA loans—real estate$396 
Income approach -
income capitalization
Capitalization rate12.0%12.0%
 
December 31, 2020
Impaired loans:
Commercial and industrial (2)
$— 
Income approach -
discounted cash flows
Discount rate3.8%3.8%
SBA loans—non-real estate$62 
Income approach -
discounted cash flows
Discount rate5.3%5.3%
SBA loans—non-real estate$25 Market approach
Market data
comparison
(3.5)%
to 7.1%
2.9%
(1)Weighted-average of inputs is based on the relative fair value of the respective assets as of September 30, 2021 and December 31, 2020.
(2)Applying fair value adjustments on the impaired loan through the full specific reserve allowance of the loan carrying value resulted in a zero fair value balance as of September 30, 2021 and December 31, 2020.
Summary of Carrying Amounts and Estimated Fair Values of Financial Instruments Not Carried at Fair Value
Financial Instruments: The carrying amounts and estimated fair values of financial instruments that are not carried at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 are as follows. These financial assets and liabilities are measured at amortized cost basis on the Company’s Consolidated Balance Sheet:
($ in thousands)
September 30, 2021
Carrying
Amount
Level 1Level 2Level 3Estimated Fair Value
Financial Assets:
Cash and cash equivalents$188,145 $188,145 $— $— $188,145 
Loans held for sale$94,466 $— $104,218 $— $104,218 
Loans receivable, net$1,217,687 $— $— $1,217,597 $1,217,597 
Accrued interest receivable, net$3,931 $5 $267 $3,659 $3,931 
Other investments:
FHLB and PCBB stock$7,195 N/AN/AN/AN/A
Time deposits placed$96 $— $96 $— $96 
Servicing assets$12,389 $— $— $15,138 $15,138 
Financial Liabilities:
Deposit$1,496,406 $— $1,497,270 $— $1,497,270 
Accrued interest payable$575 $— $575 $— $575 
($ in thousands)
December 31, 2020
Carrying
Amount
Level 1Level 2Level 3Estimated Fair Value
Financial Assets:
Cash and cash equivalents$106,310 $106,310 $— $— $106,310 
Loans held for sale$26,659 $— $26,659 $— $26,659 
Loans receivable, net$1,084,384 $— $— $1,109,217 $1,109,217 
Accrued interest receivable, net$3,985 $7 $249 $3,729 $3,985 
Other investments:
FHLB and PCBB stock$6,233 N/AN/AN/AN/A
Time deposits placed$95 $— $95 $— $95 
Servicing assets$7,360 $— $— $9,106 $9,106 
Financial Liabilities:
Deposit$1,200,090 $— $1,200,789 $— $1,200,789 
FHLB Advances$5,000 $— $5,000 $— $5,000 
Accrued interest payable$1,021 $— $1,021 $— $1,021