Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2022

Schedule Of Fair Value, Assets Measured on Recurring Basis

Assets measured at fair value on a recurring basis at September 30, 2022 and December 31, 2021, segregated by fair value hierarchy level, are summarized below:


	Fair Value Measurements
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2022:	(Dollars in thousands)
Debt securities AFS:
U.S. Government-sponsored enterprises	$	39,348	$	2,523	$	36,825	$	—
Agency mortgage-backed	160,845		—		160,845		—
State and political subdivisions	33,843		—		33,843		—
Corporate	6,085		—		6,085		—
Total debt securities	$	240,121	$	2,523	$	237,598	$	—


Other investments:
Mutual funds	$	1,134	$	1,134	$	—	$	—


December 31, 2021:
Debt securities AFS:
U.S. Government-sponsored enterprises	$	36,638	$	2,875	$	33,763	$	—
Agency mortgage-backed	178,250		—		178,250		—
State and political subdivisions	45,254		—		45,254		—
Corporate	7,677		—		7,677		—
Total debt securities	$	267,819	$	2,875	$	264,944	$	—


Other investments:
Mutual funds	$	1,132	$	1,132	$	—	$	—

Schedule Of Fair Values and Carrying Amounts, Significant Financial Instruments

As of the balance sheet dates, the estimated fair values and related carrying amounts of the Company's significant financial instruments were as follows:


	September 30, 2022
	Fair Value Measurements
	Carrying Amount		Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in thousands)
Financial assets
Cash and cash equivalents	$	32,141	$	32,141	$	32,141	$	—	$	—
Interest bearing deposits in banks	14,441		14,441		—		14,441		—
Investment securities	241,255		241,255		3,657		237,598		—
Loans held for sale	3,143		3,201		—		3,201		—
Loans, net
Residential real estate	324,977		295,825		—		—		295,825
Construction real estate	98,019		97,068		—		—		97,068
Commercial real estate	373,415		369,639		—		—		369,639
Commercial	41,977		40,464		—		—		40,464
Consumer	2,121		2,098		—		—		2,098
Municipal	90,503		88,915		—		—		88,915
Accrued interest receivable	3,254		3,254		—		827		2,427
Nonmarketable equity securities	1,816		N/A		N/A		N/A		N/A
Financial liabilities
Deposits
Noninterest bearing	$	337,513	$	337,140	$	337,140	$	—	$	—
Interest bearing	722,208		722,208		722,208		—		—
Time	136,691		133,348		—		133,348		—
Borrowed funds
Short-term	25,000		24,998		—		24,998		—

Subordinated notes	16,196		13,964		—		13,964		—
Accrued interest payable	90		90		—		90		—


	December 31, 2021
	Fair Value Measurements
	Carrying Amount		Estimated Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(Dollars in thousands)
Financial assets
Cash and cash equivalents	$	65,922	$	65,922	$	65,922	$	—	$	—
Interest bearing deposits in banks	13,196		13,196		—		13,196		—
Investment securities	268,951		268,951		4,007		264,944		—
Loans held for sale	13,829		14,088		—		14,088		—
Loans, net
Residential real estate	244,980		246,573		—		—		246,573
Construction real estate	64,370		64,539		—		—		64,539
Commercial real estate	340,066		341,451		—		—		341,451
Commercial	49,558		48,682		—		—		48,682
Consumer	2,367		2,350		—		—		2,350
Municipal	78,078		78,748		—		—		78,748
Accrued interest receivable	3,248		3,248		—		734		2,514
Nonmarketable equity securities	1,164		N/A		N/A		N/A		N/A
Financial liabilities
Deposits
Noninterest bearing	$	264,888	$	264,888	$	264,888	$	—	$	—
Interest bearing	723,479		723,479		723,479		—		—
Time	106,715		106,588		—		106,588		—



Subordinated notes	16,171		16,179		—		16,179		—
Accrued interest payable	225		225		—		225		—