Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value of Assets and Liabilities

Summary of balances of the assets and liabilities measured at estimated fair value on a recurring basis

	December 31, 2021
(dollars in thousands)	Level 1		Level 2		Level 3		Total
Available-for-sale
U.S. treasury and government agencies	$	—	$	5,103	$	—	$	5,103
Mortgage backed securities
Residential agency		—		707,157		—		707,157
Commercial		—		90,913		—		90,913
Asset backed securities		—		54		—		54
Corporate bonds		—		50,422		—		50,422
Total available-for-sale investment securities	$	—	$	853,649	$	—	$	853,649
Other assets
Derivatives	$	—	$	3,397	$	—	$	3,397
Other liabilities
Derivatives	$	—	$	1,368	$	—	$	1,368

	December 31, 2020
(dollars in thousands)	Level 1		Level 2		Level 3		Total
Available-for-sale
U.S. treasury and government agencies	$	—	$	5,907	$	—	$	5,907
Obligations of state and political agencies		—		153,773		—		153,773
Mortgage backed securities
Residential agency		—		306,719		—		306,719
Commercial		—		94,978		—		94,978
Asset backed securities		—		115		—		115
Corporate bonds		—		30,850		—		30,850
Total available-for-sale investment securities	$	—	$	592,342	$	—	$	592,342
Other assets
Derivatives	$	—	$	13,357	$	—	$	13,357
Other liabilities
Derivatives	$	—	$	2,911	$	—	$	2,911

Schedule of net impairment losses related to nonrecurring estimated fair value measurements of certain assets

	December 31, 2021
(dollars in thousands)	Level 2		Level 3		Total		Impairment
Loans held for sale	$	46,490	$	—	$	46,490	$	—
Impaired loans		—		2,469		2,469		283
Foreclosed assets		—		885		885		—
Servicing rights		—		1,880		1,880		—

	December 31, 2020
(dollars in thousands)	Level 2		Level 3		Total		Impairment
Loans held for sale	$	122,440	$	—	$	122,440	$	—
Impaired loans		—		7,325		7,325		1,205
Foreclosed assets		—		63		63		—
Servicing rights		—		1,987		1,987		—

Schedule of valuation techniques and significant unobservable inputs used to measure Level 3 estimated fair values

			December 31, 2021
(dollars in thousands)							Weighted
Asset Type	Valuation Technique	Unobservable Input	Fair Value		Range		Average
Impaired loans	Appraisal value	Property specific adjustment	$	2,469	N/A		N/A
Foreclosed assets	Appraisal value	Property specific adjustment		885	N/A		N/A
Servicing rights	Discounted cash flows	Prepayment speed assumptions		1,880	161-327		237
		Discount rate			9.5	%	9.5	%

			December 31, 2020
(dollars in thousands)							Weighted
Asset Type	Valuation Technique	Unobservable Input	Fair Value		Range		Average
Impaired loans	Appraisal value	Property specific adjustment	$	7,325	N/A		N/A
Foreclosed assets	Appraisal value	Property specific adjustment		63	N/A		N/A
Servicing rights	Discounted cash flows	Prepayment speed assumptions		1,987	191-403		285
		Discount rate			9.0	%	9.0	%

Summary of estimated fair values and related carrying or notional amounts, of the Company's financial instruments

	December 31, 2021
	Carrying		Estimated Fair Value
(dollars in thousands)	Amount		Level 1		Level 2		Level 3		Total
Financial Assets
Cash and cash equivalents	$	242,311	$	242,311	$	—	$	—	$	242,311
Investment securities held-to-maturity		352,061		—		349,677		—		349,677
Loans		1,726,448		—		—		1,760,784		1,760,784
Accrued interest receivable		8,537		8,537		—		—		8,537
Bank-owned life insurance		33,156		—		33,156		—		33,156
Financial Liabilities
Noninterest-bearing deposits	$	938,840	$	—	$	938,840	$	—	$	938,840
Interest-bearing deposits		1,748,799		—		1,748,799		—		1,748,799
Time deposits		232,912		—		—		232,970		232,970
Long-term debt		58,933		—		57,772		—		57,772
Accrued interest payable		1,674		1,674		—		—		1,674

	December 31, 2020
	Carrying		Estimated Fair Value
(dollars in thousands)	Amount		Level 1		Level 2		Level 3		Total
Financial Assets
Cash and cash equivalents	$	172,962	$	172,962	$	—	$	—	$	172,962
Loans		1,945,129		—		—		1,992,394		1,992,394
Accrued interest receivable		9,662		9,662		—		—		9,662
Bank-owned life insurance		32,363		—		32,363		—		32,363
Financial Liabilities
Noninterest-bearing deposits	$	754,716	$	—	$	754,716	$	—	$	754,716
Interest-bearing deposits		1,607,939		—		1,607,939		—		1,607,939
Time deposits		209,338		—		—		210,637		210,637
Long-term debt		58,735		—		56,131		—		56,131
Accrued interest payable		654		654		—		—		654