Schedule of Fair Values of Financial Instruments |
The fair values of the Corporation’s financial instruments not required to be measured or reported at fair value are as follows at December 31, 2022 and 2021: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2022 | (In Thousands) | | Carrying Value | | Fair Value | | Quoted Prices in Active Markets for Identical Assets (Level I) | | Significant Other Observable Inputs (Level II) | | Significant Unobservable Inputs (Level III) | Financial assets: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Loans held for sale | | $ | 3,298 | | | $ | 3,298 | | | $ | 3,298 | | | $ | — | | | $ | — | | Loans, net | | 1,624,094 | | | 1,594,073 | | | — | | | — | | | 1,594,073 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Financial liabilities: | | | | | | | | | | | Time deposits | | $ | 146,282 | | | $ | 137,559 | | | $ | — | | | $ | — | | | $ | 137,559 | | | | | | | | | | | | | Short-term borrowings | | 153,349 | | | 153,349 | | | 153,349 | | | — | | | — | | Long-term borrowings | | 102,783 | | | 99,118 | | | — | | | — | | | 99,118 | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2021 | (In Thousands) | | Carrying Value | | Fair Value | | Quoted Prices in Active Markets for Identical Assets (Level I) | | Significant Other Observable Inputs (Level II) | | Significant Unobservable Inputs (Level III) | Financial assets: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Loans held for sale | | $ | 3,725 | | | $ | 3,725 | | | $ | 3,725 | | | $ | — | | | $ | — | | Loans, net | | 1,377,971 | | | 1,379,787 | | | — | | | — | | | 1,379,787 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Financial liabilities: | | | | | | | | | | | Time deposits | | $ | 205,367 | | | $ | 204,512 | | | $ | — | | | $ | — | | | $ | 204,512 | | | | | | | | | | | | | Short-term borrowings | | 5,747 | | | 5,747 | | | 5,747 | | | — | | | — | | Long-term borrowings | | 125,963 | | | 127,679 | | | — | | | — | | | 127,679 | | | | | | | | | | | | |
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