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Fair Values of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2023
Investments All Other Investments [Abstract]  
Schedule of Estimated Fair Values of Recognized Financial Instruments

The fair values of recognized financial instruments as of March 31, 2023 and December 31, 2022 are as follows:

(Dollars in thousands)

 

Carrying
Value

 

 

Level I

 

 

Level II

 

 

Level III

 

 

Fair Value

 

March 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities held-to-maturity

 

$

243,334

 

 

$

11,836

 

 

$

201,215

 

 

$

 

 

$

213,051

 

Loans held for sale

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loans

 

 

641,466

 

 

 

 

 

 

 

 

 

622,852

 

 

 

622,852

 

Mortgage servicing rights

 

 

606

 

 

 

 

 

 

 

 

 

606

 

 

 

606

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

1,007,507

 

 

$

879,886

 

 

$

 

 

$

128,398

 

 

$

1,008,284

 

Other borrowings

 

 

2,394

 

 

 

 

 

 

 

 

 

2,270

 

 

 

2,270

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities held-to-maturity

 

$

247,401

 

 

$

11,617

 

 

$

200,337

 

 

$

 

 

$

211,954

 

Loans held for sale

 

 

52

 

 

 

55

 

 

 

 

 

 

 

 

 

55

 

Net loans

 

 

620,333

 

 

 

 

 

 

 

 

 

600,720

 

 

 

600,720

 

Mortgage servicing rights

 

 

621

 

 

 

 

 

 

 

 

 

621

 

 

 

621

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

1,023,417

 

 

$

905,335

 

 

$

 

 

$

114,478

 

 

$

1,019,813

 

Other borrowings

 

 

2,461

 

 

 

 

 

 

 

 

 

2,321

 

 

 

2,321