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Fair Value of Financial Instruments and Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Value, by Balance Sheet Grouping
The carrying amount, estimated fair values, and placement in the fair value hierarchy of the Company’s financial instruments as of March 31, 2023 and December 31, 2022 are as follows:
Fair Value Measurements
(dollars in thousands)Carrying
Value		Estimated
Fair Value		Level
1		Level
2		Level
3
March 31, 2023
Assets
Cash and short-term investments$81,966 $81,966 $81,966 $— $— 
Investment securities available for sale434,705 434,705 — 419,750 14,955 
Investment securities held to maturity463,946 419,071 — 419,071 — 
Other investments, at cost14,999 14,999 — 14,903 96 
Loans held for sale13,623 13,623 — 13,623 — 
Loans, net1,783,254 1,628,671 — — 1,628,671 
Liabilities
Deposits2,516,129 2,506,457 — 2,506,457 — 
Federal Home Loan Bank advances165,000 164,831 — 164,831 — 
 Other borrowings63,375 53,951 — 53,951 — 
Fair Value Measurements
(dollars in thousands)Carrying
Value		Estimated
Fair Value		Level
1		Level
2		Level
3
December 31, 2022
Assets
Cash and short-term investments$80,678 $80,678 $80,678 $— $— 
Investment securities available for sale432,553 432,553 — 416,957 15,596 
Investment securities held to maturity465,858 411,264 — 411,264 — 
Other investments, at cost13,793 13,793 — 13,003 790 
Loans held for sale17,743 17,743 — 17,743 — 
Loans, net1,720,978 1,469,707 — — 1,469,707 
Liabilities
Deposits2,490,997 2,489,481 — 2,489,481 — 
Federal Home Loan Bank advances125,000 125,163 — 125,163 — 
Other borrowings78,352 69,930 — 69,930 — 
Fair Value Measurements, Recurring and Nonrecurring The following tables present the recorded amount of the Company’s assets measured at fair value on a recurring and nonrecurring basis as of March 31, 2023 and December 31, 2022, aggregated by the level in the fair value hierarchy within which those measurements fall. The tables below include only collateral dependent impaired loans with a specific reserve and only other real estate properties with a valuation allowance at March 31, 2023 and December 31, 2022. 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 (Level 1) (Level 2) (Level 3)
March 31, 2023
Nonrecurring
Collateral dependent impaired loans$651 $— $— $651 
Other real estate owned651 — — 651 
Total nonrecurring assets$1,302 $— $— $1,302 
Fair Value Measurements at Reporting Date Using
(dollars in thousands)Total Fair
Value		 (Level 1) (Level 2) (Level 3)
December 31, 2022
Nonrecurring
Collateral dependent impaired loans$521 $— $— $521 
Other real estate owned651 — — 651 
Total nonrecurring assets$1,172 $— $— $1,172 
Fair Value Measurement Inputs and Valuation Techniques
The following table presents 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 March 31, 2023 and December 31, 2022. This table is comprised primarily of collateral dependent impaired loans and other real estate owned:
(dollars in thousands)March 31, 2023Valuation
Techniques		Unobservable
Inputs		Range
Weighted Avg
Collateral dependent impaired loans$651 Appraised ValueDiscounts to reflect current market conditions, ultimate collectability, and estimated costs to sell25 %50 %
Other real estate owned651 Appraised Value/Comparable SalesDiscounts to reflect current market conditions and estimated costs to sell— %20 %
(dollars in thousands)December 31, 2022Valuation
Techniques		Unobservable
Inputs		Range
Weighted Avg
Collateral dependent impaired loans$521 Appraised ValueDiscounts to reflect current market conditions, ultimate collectability, and estimated costs to sell25 %50 %
Other real estate owned651 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 March 31, 2023 and December 31, 2022.
As of March 31, 2023
(dollars in thousands)Fair ValueValuation
Techniques		Unobservable
Inputs		Range
(Weighted Avg)
Available for sale securities$14,955 Discounted Cash FlowDiscount Rate or YieldN/A*
Other investments96 Discounted Cash FlowDiscount Rate or YieldN/A*
 As of December 31, 2022
(dollars in thousands)Fair ValueValuation
Techniques		Unobservable
Inputs		Range
(Weighted Avg)
Available for sale securities$15,596 Discounted Cash FlowDiscount Rate or YieldN/A*
Other investments790 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.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The table below 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 three months ended March 31, 2023.
Available for sale securitiesOther Investments
(dollars in thousands)
Balance, Beginning$15,596 $790 
Redemptions/Payments(533)(703)
Unrealized/realized losses/(gains) included in earnings(488)9 
Transfer to Level 3380 — 
Balance, Ending$14,955 $96