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Fair Value of Financial Instruments and Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Carrying Amount, Estimated Fair Value, and Placement in the Fair Value Hierarchy
The carrying amount, estimated fair values, and placement in the fair value hierarchy of the Company’s financial instruments are as follows: 
 
CarryingEstimatedLevel
(dollars in thousands)AmountFair Value123
December 31, 2021     
Assets     
Cash and short-term investments$197,232 $197,232 $197,232 $— $— 
Investment securities available for sale938,164 938,164 87,551 850,613 — 
Other investments14,012 14,012 5,574 4,183 4,255 
Loans held for sale38,150 38,150 — 38,150 — 
Loans, net1,325,067 1,328,853 — — 1,328,853 
Liabilities
Deposits2,374,608 2,375,385 — 2,375,385 — 
Federal Home Loan Bank advances51,656 51,162 — 51,162 — 
Other borrowed money36,792 36,796 — 36,796 — 
December 31, 2020
Assets
Cash and short-term investments$183,506 $183,506 $183,506 $— $— 
Investment securities available for sale380,814 380,814 245 380,569 — 
Other investments3,296 3,296 — 3,296 — 
Loans held for sale52,386 52,386 — 52,386 — 
Loans, net1,047,376 1,063,785 — — 1,063,785 
Liabilities
Deposits1,445,027 1,445,984 — 1,445,984 — 
Federal Home Loan Bank advances22,500 20,817 — 20,817 — 
PPPLF106,789 106,789 — 106,789 — 
Other borrowed money37,792 37,792 — 37,792 — 
Schedule of Assets Measured at Fair Value on a Recurring and Nonrecurring Basis The table below includes only impaired loans with a specific reserve and only other real estate properties with a valuation allowance at December 31, 2021 and 2020. Those impaired loans and other real estate properties are shown net of the related specific reserves and valuation allowances.
 Fair Value Measurements at Reporting Date Using
(dollars in thousands)Total Fair
Value
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
December 31, 2021    
Nonrecurring
Impaired loans$1,837 $— $— $1,837 
Other real estate281 — — 281 
December 31, 2020
Nonrecurring
Impaired loans$5,939 $— $— $5,939 
Other real estate1,006 — — 1,006 
Schedule of Fair Value Measurements Using Significant Unobservable Inputs
The following tables present quantitative information about the significant unobservable inputs used in the fair value measurements for assets in level 3 of the fair value hierarchy measured on a nonrecurring basis at December 31, 2021 and 2020. These tables are comprised primarily of collateral dependent impaired loans and other real estate owned:
 
(dollars in thousands)December 31, 2021Valuation
Techniques
Unobservable
Inputs
Range
Weighted Avg
Impaired Loans$1,837 Appraised ValueDiscounts to reflect current market conditions, ultimate collectability, and estimated costs to sell25 %-100%
Other Real Estate$281 Appraised Value/ Comparable SalesDiscounts to reflect current market conditions and estimated costs to sell%-20%
December 31, 2020Valuation
Techniques
Unobservable
Inputs
Range
Weighted Avg
Impaired Loans$5,939 Appraised ValueDiscounts to reflect current market conditions, ultimate collectability, and estimated costs to sell25 %-100%
Other Real Estate$1,006 Appraised Value/ Comparable SalesDiscounts to reflect current market conditions and estimated costs to sell%-20%


The following table presents quantitative information about recurring level 3 fair value measurements as of December 31, 2021.
December 31, 2021
(dollars in thousands)Fair ValueValuation
Techniques
Unobservable
Inputs
Range
(Weighted Avg)
Other investments$4,255 Discounted Cash FlowDiscount Rate or YieldN/A*

* The Company relies on a third-party pricing service to value its securities. The details of the unobservable inputs and other adjustments used by the third-party pricing service were not readily available to the Company.
Schedule of Reconciliation and Statement of Income Classification of Gains and Losses for All Assets Measured at Fair Value on a Recurring Basis
The following table presents a reconciliation and statement of income classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (level 3) for the year ended December 31, 2021 and 2020:
 Other InvestmentAvailable for Sale Securities
(dollars in thousands)20212020
Beginning balance$— $2,022 
Additions4,107 — 
Total unrealized/realized gains included in earnings148 — 
Unrealized loss included in other comprehensive income (loss)— (21)
Transfer to Level 2— (2,001)
Ending balance$4,255 $—