Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value

Assets and liabilities measured at fair value are summarized below.

Fair Value Measurements at December 31, 2022 using:

	(Level 1)		(Level 2)		(Level 3)
Assets measured at fair value on a recurring basis:
Securities available for sale
U.S. Treasury securities and obligations of    U.S. Government agencies	$	—	$	61,029	$	—
Obligations of states and political subdivisions		—		317,248		—
Mortgage-backed securities in government    sponsored entities		—		237,125		—
Total securities available for sale		—		615,402		—
Equity securities		—		2,190		—
Swap asset		—		16,579		—
Liabilities measured at fair value on a recurring    basis:
Swap liability		—		16,579		—
Assets measured at fair value on a nonrecurring    basis:
Mortgage servicing rights	$	—	$	—	$	2,689

Fair Value Measurements at December 31, 2021 using:

	(Level 1)		(Level 2)		(Level 3)
Assets measured at fair value on a recurring basis:
Securities available for sale
U.S. Treasury securities and obligations of    U.S. Government agencies	$	—	$	47,890	$	—
Obligations of states and political subdivisions		—		298,836		—
Mortgage-backed securities in government    sponsored entities		—		213,148		—
Total securities available for sale		—		559,874		—
Equity securities		—		1,072		—
Swap asset		—		11,072		—
Liabilities measured at fair value on a recurring    basis:
Swap liability		—		11,072		—
Assets measured at fair value on a nonrecurring    basis:
Impaired loans	$	—	$	—	$	11
Mortgage servicing rights		—		—		2,642

Quantitative Information about Level 3 Fair Value Measurements

The following tables presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2022 and 2021.

	Quantitative Information about Level 3 Fair Value Measurements
December 31, 2022	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
Mortgage Servicing Rights	$	2,689	Discounted Cash Flows	Constant Prepayment Rate	5% -20%	7%
				Discount Rate	12%	12%

	Quantitative Information about Level 3 Fair Value Measurements
December 31, 2021	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
Impaired loans	$	11	Appraisal of collateral	Appraisal adjustments	10%	10%
				Holding period	24 months	24 months
Mortgage Servicing Rights	$	2,642	Discounted Cash Flows	Constant Prepayment Rate	8% -35%	15%
				Discount Rate	12%	12%

Carrying Amount and Fair Value of Financial Instruments Carried at Amortized Cost

The carrying amount and fair value of financial instruments carried at amortized cost were as follows:

December 31, 2022	Carrying Amount		Total Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	43,361	$	43,361	$	43,361	$	—	$	—
Other securities		33,585		33,585		33,585		—		—
Loans, held for sale		683		698		698		—		—
Loans, net of allowance for loan losses		2,518,155		2,160,920		—		—		2,160,920
Bank owned life insurance		53,543		53,543		53,543		—		—
Accrued interest receivable		11,178		11,178		11,178		—		—
Financial Liabilities:
Nonmaturing deposits		2,300,215		2,300,215		2,300,215		—		—
Time deposits		319,769		318,886		—		—		318,886
Short-term FHLB advances		393,700		393,247		393,247		—		—
Long-term FHLB advances		3,578		3,534		—		—		3,534
Securities sold under agreement to repurchase		25,143		25,143		25,143		—		—
Subordinated debentures		103,799		98,513		—		—		98,513
Other borrowings		15,516		15,806		—		—		15,806
Accrued interest payable		668		668		668		—		—

NOTE 17 - FAIR VALUE MEASUREMENT (Continued)

December 31, 2021	Carrying Amount		Total Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	265,969	$	265,969	$	265,969	$	—	$	—
Other securities		17,011		17,011		17,011		—		—
Loans, held for sale		1,972		2,011		2,011		—		—
Loans, net of allowance for loan losses		1,971,238		1,945,638		—		—		1,945,638
Bank owned life insurance		47,176		47,176		47,176		—		—
Accrued interest receivable		7,385		7,385		7,385		—		—
Financial Liabilities:
Nonmaturing deposits		2,170,253		2,170,253		2,170,253		—		—
Time deposits		246,448		247,053		—		—		247,053
Long-term FHLB advances		75,000		75,930		—		—		75,930
Securities sold under agreement to repurchase		25,495		25,495		25,495		—		—
Subordinated debentures		102,813		111,118		—		—		111,118
Accrued interest payable		315		315		315		—		—