Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Feb. 22, 2023 | Jun. 30, 2022 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2022 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Current Fiscal Year End Date | --12-31 | ||
Entity File Number | 0-15536 | ||
Entity Registrant Name | CODORUS VALLEY BANCORP, INC. | ||
Entity Incorporation, State or Country Code | PA | ||
Entity Tax Identification Number | 23-2428543 | ||
Entity Address, Address Line One | 105 Leader Heights Road, | ||
Entity Address, City or Town | York | ||
Entity Address, State or Province | PA | ||
Entity Address, Postal Zip Code | 17403 | ||
City Area Code | 717 | ||
Local Phone Number | 747-1519 | ||
Title of 12(b) Security | Common Stock, $2.50 par value | ||
Trading Symbol | CVLY | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 208,079,828 | ||
Entity Common Stock, Shares Outstanding | 9,587,589 | ||
Document Fiscal Year Focus | 2022 | ||
Document Fiscal Period Focus | FY | ||
Entity Central Index Key | 0000806279 | ||
Amendment Flag | false | ||
Documents Incorporated by Reference | Part III incorporates certain information by reference to the registrant’s Definitive Proxy Statement for the 2023 Annual Meeting of Shareholder. | ||
Auditor Firm ID | 173 | ||
Auditor Name | Crowe LLP | ||
Auditor Location | Columbus, Ohio |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Interest bearing deposits with banks | $ 99,777 | $ 525,644 |
Cash and due from banks | 20,662 | 19,850 |
Total cash and cash equivalents | 120,439 | 545,494 |
Securities, available-for-sale | 345,457 | 254,285 |
Restricted investment in bank stocks, at cost | 955 | 1,311 |
Loans held for sale | 154 | 7,876 |
Loans (net of deferred fees of $3,813 - 2022 and $4,368 - 2021) | 1,632,857 | 1,529,751 |
Less-allowance for loan losses | (20,736) | (22,782) |
Net loans | 1,612,121 | 1,506,969 |
Premises and equipment, net | 21,136 | 21,955 |
Operating leases right-of-use assets | 3,072 | 1,697 |
Goodwill | 2,301 | 2,301 |
Other assets | 89,417 | 76,684 |
Total assets | 2,195,052 | 2,418,572 |
Deposits | ||
Noninterest bearing | 463,853 | 524,609 |
Interest bearing | 1,479,366 | 1,619,156 |
Total deposits | 1,943,219 | 2,143,765 |
Short-term borrowings | 11,605 | 10,761 |
Long-term debt | 11,550 | 21,579 |
Subordinate debentures - face amount $31,000 (less discount and debt issuance cost of $236 at December 31, 2022 and $317 at December 31, 2021) | 30,764 | 30,683 |
Operating leases liabilities | 3,204 | 1,803 |
Other liabilities | 17,410 | 14,476 |
Total liabilities | 2,017,752 | 2,223,067 |
Shareholders' equity | ||
Preferred stock, par value $2.50 per share; 1,000,000 shares authorized; shares issued and outstanding: 0 at December 31, 2022 and 0 at December 31, 2021 | 0 | 0 |
Common stock, par value $2.50 per share; 30,000,000 shares authorized; shares issued: 9,883,660 at December 31, 2022 and 9,883,187 at December 31, 2021; and shares outstanding: 9,581,230 at December 31, 2022 and 9,472,404 at December 31, 2021 | 24,709 | 24,708 |
Additional paid-in capital | 141,896 | 142,067 |
Retained earnings | 52,146 | 37,769 |
Accumulated other comprehensive loss | (34,764) | (164) |
Treasury stock shares outstanding, at cost: 302,430 shares at December 31, 2022 and 410,783 at December 31, 2021 | (6,687) | (8,875) |
Total shareholders' equity | 177,300 | 195,505 |
Total liabilities and shareholders' equity | $ 2,195,052 | $ 2,418,572 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Loans, deferred fees | $ 3,813,000 | $ 4,368,000 |
Preferred stock, par value | $ 2.50 | $ 2.50 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 2.50 | $ 2.50 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, shares issued | 9,883,660 | 9,883,187 |
Common stock, shares outstanding | 9,581,230 | 9,472,404 |
Treasury stock, at cost, shares | 302,430 | 410,783 |
Subordinated Debenture [Member] | ||
Debt instrument face amount | $ 31,000,000 | $ 31,000,000 |
Unamortized discount and debt issuance cost | $ 236,000 | $ 317,000 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Interest income | ||
Loans, including fees | $ 73,139 | $ 67,414 |
Investment securities: | ||
Taxable | 7,455 | 3,300 |
Tax-exempt | 427 | 362 |
Dividends | 44 | 64 |
Other | 3,588 | 551 |
Total interest income | 84,653 | 71,691 |
Interest expense | ||
Deposits | 7,261 | 7,225 |
Federal funds purchased and other short-term borrowings | 48 | 42 |
Long-term debt | 246 | 654 |
Subordinated debentures | 1,846 | 1,670 |
Total interest expense | 9,401 | 9,591 |
Net interest income | 75,252 | 62,100 |
Provision for loan losses | 2,890 | 3,663 |
Net interest income after provision for loan losses | 72,362 | 58,437 |
Noninterest income | ||
Trust and investment services fees | 4,549 | 4,502 |
Income from mutual fund, annuity and insurance sales | 1,247 | 1,358 |
Service charges on deposit accounts | 5,503 | 5,183 |
Income from bank owned life insurance | 1,256 | 1,343 |
Other income | 1,880 | 1,998 |
Gain on sales of loans held for sale | 625 | 3,096 |
Loss on write down and sales of assets held for sale | (87) | (1,092) |
Loss on sales of securities | (119) | (23) |
Total noninterest income | 14,854 | 16,365 |
Noninterest expense | ||
Personnel | 35,061 | 33,434 |
Occupancy of premises, net | 3,848 | 3,540 |
Furniture and equipment | 3,402 | 3,272 |
Professional and legal | 2,626 | 1,698 |
Marketing | 1,932 | 1,772 |
FDIC insurance | 765 | 918 |
Debit card processing | 1,703 | 1,460 |
Charitable donations | 1,571 | 1,587 |
External data processing | 3,884 | 3,385 |
Settlement expenses | 1,000 | 0 |
Loss on foreclosed real estate, including provision of losses | 25 | 0 |
Impaired loan carrying costs | 546 | 451 |
Other | 5,205 | 4,698 |
Total noninterest expense | 61,568 | 56,215 |
Income before income taxes | 25,648 | 18,587 |
Provision for income taxes | 5,556 | 3,928 |
Net income | $ 20,092 | $ 14,659 |
Net income per share, basic | $ 2.11 | $ 1.51 |
Net income per share, diluted | $ 2.10 | $ 1.50 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | ||
Consolidated Statements Of Comprehensive Income [Abstract] | |||
Net income | $ 20,092 | $ 14,659 | |
Securities available for sale: | |||
Net unrealized losses arising during the period (net of tax benefit of $10,657 and $997, respectively) | (34,691) | (3,749) | |
Reclassification adjustment for losses included in net income (net of tax benefit $28 and $5, respectively) | [1],[2] | 91 | 18 |
Net unrealized losses | (34,600) | (3,731) | |
Comprehensive (loss) income | $ (14,508) | $ 10,928 | |
[1] Amounts are included in (loss) gain on sales of securities on the Consolidated Statements of Income within noninterest income. Income tax amounts are included in provision for income taxes on the Consolidated Statements of Income. |
Consolidated Statements Of Co_2
Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Securities available for sale: | ||
Net unrealized holding (losses) gains arising during the period, tax (benefit) expense | $ 10,657 | $ 997 |
Reclassification adjustment for losses (gains) included in net income, tax (benefit) expense | $ 28 | $ 5 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cash flows from operating activities | ||
Net income | $ 20,092 | $ 14,659 |
Adjustments to reconcile net income to net cash provided by operations: | ||
Depreciation/amortization | 2,488 | 2,583 |
Net amortization of premiums on securities | 701 | 983 |
Amortization of deferred loan origination fees, net of costs | (2,627) | (7,240) |
Net amortization of operating lease right of use assets | 686 | 585 |
Net amortization of finance lease right of use assets | 47 | 47 |
Amortization of subordinated debentures issuance fees | 81 | 81 |
Net change in operating lease liabilities | (660) | (606) |
Provision for loan losses | 2,890 | 3,663 |
Deferred income tax expense (benefit) | 662 | (23) |
Increase in bank owned life insurance | (1,256) | (1,343) |
Originations of mortgage loans held for sale | (16,129) | (85,608) |
Originations of SBA loans held for sale | (731) | (7,602) |
Proceeds from sales of mortgage loans held for sale | 19,013 | 93,159 |
Proceeds from sales of SBA loans held for sale | 6,187 | 11,214 |
Gain on sales of mortgage loans held for sale | (468) | (2,718) |
Gain on sales of SBA loans held for sale | (157) | (378) |
Loss on writedowns and sales of bank premises and equipment, net | 87 | 1,048 |
Loss on lease write-off | 0 | 44 |
Loss on sales of securities available-for-sale | 119 | 23 |
Stock-based compensation | 979 | 785 |
(Increase) decrease in interest receivable | (2,062) | 3,790 |
Decrease (increase) in other assets | 1,499 | (1,353) |
Increase (decrease) in interest payable | 277 | (316) |
Increase in other liabilities | 2,240 | 2,356 |
Net cash provided by operating activities | 33,958 | 27,833 |
Cash flows from investing activities | ||
Purchases of securities, available-for-sale | (182,874) | (278,126) |
Maturities, repayments and calls of securities, available-for-sale | 40,846 | 199,310 |
Sales of securities, available-for-sale | 4,800 | 3,803 |
Redemption of restricted investment in bank stock | 356 | 1,282 |
Net (increase) decrease in loans made to customers | (116,192) | 19,933 |
Proceeds from sale of loans made to customers | 10,298 | 0 |
Purchases of premises and equipment | (1,841) | (2,032) |
Investment in bank owned life insurance | 0 | (7,000) |
Proceeds from sales of fixed assets | 0 | 996 |
Proceeds from bank owned life insurance | 0 | 450 |
Net cash used in investing activities | (244,607) | (61,384) |
Cash flows from financing activities | ||
Net (decrease) increase in demand and savings deposits | (120,968) | 350,797 |
Net decrease in time deposits | (79,578) | (70,571) |
Net increase in short-term borrowings | 844 | 2,221 |
Repayment of long-term debt | (10,000) | (25,000) |
Net change in finance lease liabilities | (29) | (27) |
Cash dividends paid to shareholders | (5,714) | (5,270) |
Proceeds from treasury stock reissuance | 2,422 | 1,098 |
Payment of taxes related to stock withheld | (109) | (95) |
Forfeiture of restricted stock | (91) | 0 |
Treasury stock repurchased | (34) | (9,878) |
Proceeds from issuance of stock, net | (1,149) | (23) |
Net cash (used in) provided by financing activities | (214,406) | 243,252 |
Net (decrease) increase in cash and cash equivalents | (425,055) | 209,701 |
Cash and cash equivalents at beginning of year | 545,494 | 335,793 |
Cash and cash equivalents at end of period | $ 120,439 | $ 545,494 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2020 | $ 24,552 | $ 141,461 | $ 28,380 | $ 3,567 | $ 0 | $ 197,960 |
Net income | 14,659 | 14,659 | ||||
Other comprehensive loss, net of tax | (3,731) | (3,731) | ||||
Common stock cash dividends | (5,270) | (5,270) | ||||
Stock-based compensation | 785 | 785 | ||||
Repurchased stock | (9,878) | (9,878) | ||||
Withheld stock | (95) | (95) | ||||
Issuance and reissuance of common stock: | ||||||
Issuance of shares under the dividend reinvestment and stock purchase plan | 34 | 251 | 215 | 500 | ||
Issuance of shares under the employee stock option plan | 14 | (244) | 535 | 305 | ||
Issuance of shares under employee stock purchase plan | (51) | 321 | 270 | |||
Issuance of shares under stock-based compensation awards | 108 | (135) | 27 | 0 | ||
Balance at Dec. 31, 2021 | 24,708 | 142,067 | 37,769 | (164) | (8,875) | 195,505 |
Net income | 20,092 | 20,092 | ||||
Other comprehensive loss, net of tax | (34,600) | (34,600) | ||||
Common stock cash dividends | (5,715) | (5,715) | ||||
Stock-based compensation | 979 | 979 | ||||
Forfeiture of restricted stock and withheld shares | 91 | (200) | (109) | |||
Repurchased stock | (34) | (34) | ||||
Issuance and reissuance of common stock: | ||||||
Issuance of shares under the dividend reinvestment and stock purchase plan | 49 | 520 | 569 | |||
Issuance of shares under the employee stock option plan | (178) | 537 | 359 | |||
Issuance of shares under employee stock purchase plan | (54) | 308 | 254 | |||
Issuance of shares under stock-based compensation awards | 1 | (1,058) | 1,057 | 0 | ||
Balance at Dec. 31, 2022 | $ 24,709 | $ 141,896 | $ 52,146 | $ (34,764) | $ (6,687) | $ 177,300 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Consolidated Statements Of Changes In Shareholders' Equity [Abstract] | ||
Cash dividends, per share | $ 0.60 | $ 0.54 |
Withheld stock, shares | 4,387 | |
Repurchased stock, shares | 1,535 | 465,434 |
Forfeiture of restricted stock and withheld shares, shares | 11,594 | |
Issuance and reissuance of common stock: | ||
Shares under the dividend reinvestment and stock purchase plan | 26,467 | 25,233 |
Shares under the stock option plan | 26,245 | 34,113 |
Shares under employee stock purchase plan | 13,543 | 17,308 |
Shares of stock-based compensation awards | 55,700 | 44,689 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | NOTE 1-Summary of Significant Accounting Policies Nature of Operations and Basis of Presentation Codorus Valley Bancorp, Inc. (“Corporation” or “Codorus Valley”) is a one-bank holding company headquartered in York, Pennsylvania that provides a full range of banking services through its subsidiary, PeoplesBank, A Codorus Valley Company (“PeoplesBank” or “Bank”). PeoplesBank operates one wholly-owned subsidiary as of December 31, 2022, Codorus Valley Financial Advisors, Inc. d/b/a Peoples Wealth Advisors, which sells non-deposit investment products. In addition, PeoplesBank may periodically create nonbank subsidiaries for the purpose of temporarily holding foreclosed properties pending the liquidation of these properties. PeoplesBank operates under a state charter and is subject to regulation by the Pennsylvania Department of Banking and Securities, and the Federal Deposit Insurance Corporation. The Corporation is subject to regulation by the Board of Governors of the Federal Reserve System and the Pennsylvania Department of Banking and Securities. The consolidated financial statements include the accounts of Codorus Valley and its wholly-owned bank subsidiary, PeoplesBank, and a wholly-owned nonbank subsidiary, SYC Realty Company, Inc. SYC Realty was inactive during the reportable period of 2022. The accounts of CVB Statutory Trust No. 1 and No. 2 are not included in the consolidated financial statements as discussed in Note 8 – Short-term Borrowings and Long-term Debt. All significant intercompany account balances and transactions have been eliminated in consolidation. The accounting and reporting policies of Codorus Valley and subsidiaries conform to accounting principles generally accepted in the United States of America and have been followed on a consistent basis. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses , particularly as it relates to changing economic conditions. In March 2023, certain specialized banking institutions with elevated concentrations of uninsured deposits experienced large deposit outflows, resulting in the institutions being placed into FDIC receiverships. In the aftermath, there has been substantial market disruption and indications that deposit concerns could spread within the banking industry, leading to deposit outflows and other destabilizing results. The Corporation maintains a well-diversified deposit base and has a comparatively low level of uninsured deposits. As of December 31, 2022, 82 % of our deposits are estimated to be FDIC-insured, and an additional 6 % of deposit were fully collateralized. The average account size of our consumer deposits is less than $ 18,000 , and the average account size of our business deposits is less than $ 89,000 . Investment Securities The classification of securities is determined at the time of acquisition and is reevaluated at each reporting date. Securities classified as available-for-sale are debt securities that the Corporation intends to hold for an indefinite period of time, but not necessarily to maturity. Any decision to sell a security classified as available-for-sale would be based on various factors, including significant movements in interest rates, changes in maturity mix of assets and liabilities, income or liquidity needs, regulatory considerations and other factors. Debt securities available-for-sale are carried at fair value, with unrealized gains and losses, net of taxes, reported as a component of accumulated other comprehensive income in shareholders' equity. Premiums and discounts are recognized in interest income using the interest method over the estimated life of the security. Realized gains and losses from the sale of available-for-sale securities are computed on the basis of specific identification of the adjusted cost of each security and are shown net as a separate line item in the statement of income. The Corporation evaluates securities within the Corporation’s available for sale portfolio for other-than-temporary impairment (“OTTI”) at least quarterly. If the fair value of a debt security is below the amortized cost basis of the security, OTTI is required to be recognized if any of the following are met: (1) the Corporation intends to sell the security; (2) it is “more likely than not” that the Corporation will be required to sell the security before recovery of its amortized cost basis; or (3) the present value of the expected cash flows is not sufficient to recover the entire amortized costs basis. For all impaired debt securities that the Corporation intends to sell, or more likely than not will be required to sell, the full amount of the depreciation is recognized as OTTI through earnings. Credit-related OTTI for all other impaired debt securities is recognized through earnings. Non-credit related OTTI for such debt securities is recognized in other comprehensive income, net of applicable taxes. More information about investment securities is provided in Note 3 – Securities. Restricted Investment in Bank Stocks Restricted stock, which represents required investments in the common stock of correspondent banks, is carried at cost and, as of December 31, 2022 and 2021 consisted primarily of the common stock of the Federal Home Loan Bank of Pittsburgh (FHLBP) and, to a lesser degree, Atlantic Community Bancshares, Inc. (ACBI), the parent company of Atlantic Community Bankers Bank (ACBB). Under the FHLBP’s Capital Plan and ACBI membership, PeoplesBank is required to maintain a minimum member stock investment, both as a condition of becoming and remaining a member and as a condition of obtaining borrowings from the FHLBP. The FHLBP uses a formula to determine the minimum stock investment, which is based on the volume of loans outstanding, unused borrowing capacity and other factors. The FHLBP paid dividends during the years ended December 31, 2022 and 2021. The FHLBP restricts the repurchase of the excess capital stock of member banks. The amount of excess capital stock that can be repurchased from any member is currently the lesser of five percent of the member’s total capital stock outstanding or its excess capital stock outstanding. Management evaluates the restricted stock for impairment in accordance with FASB ASC Topic 942. Management’s determination of whether these investments are impaired is based on their assessment of the ultimate recoverability of their cost rather than by recognizing temporary declines in value. Using the FHLBP as an example, the determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as: (1) the significance of the decline in net assets of the FHLBP as compared to the capital stock amount for the FHLBP and the length of time this situation has persisted; (2) commitments by the FHLBP to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLBP; and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the FHLBP. Management believes no impairment charge was necessary related to the restricted stock during the periods ended December 31, 2022 and 2021 . Loans Held for Sale Loans held for sale are comprised of residential mortgage loans and the guaranteed portion of secondary-market qualified Small Business Administration loans. Loans held for sale are reported at th e lower of cost or fair value, as determined by the aggregate commitments from investors or current investor yield requirements. The amount by which cost exceeds fair value, if any, is accounted for as a valuation allowance and is charged to expense in the period of the change. The Company generally sells the guaranteed portion of its SBA loans to a third party and retains the servicing, holding the nonguaranteed portion in its portfolio. Gains or losses recognized on the sale of mortgage loans and loans guaranteed by the Small Business Administration loans are recognized based on the difference between the selling price and the carrying value of the related loan and are recorded in noninterest income. Loans Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff, are stated at their outstanding unpaid principal balances less amounts charged off, net of an allowance for loan losses and any deferred fees or costs. Interest income is accrued on the unpaid principal balance. Generally, loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) over the contractual life of the loan. The loans receivable portfolio is segmented into commercial and consumer loans. Commercial loans consist of the following industry classes: builder & developer, commercial real estate investor, residential real estate investor, hotel/motel, wholesale & retail, agriculture, manufacturing, service and all other. Consumer loans consist of the following classes: residential mortgage, home equity and all other. Generally, for all classes of loans receivable, when it is probable that principal and interest will not be collectible or a loss is incurred, the accrual of interest is discontinued. A loan may remain on accrual status if it is in the process of collection and is either guaranteed or well-secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for loan losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income, according to the Corporation’s judgment as to the collectability of principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, generally six months, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. Allowance for Loan Losses The allowance for loan losses represents the Corporation’s estimate of losses incurred in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recov eries. Loans deemed to be uncollectable are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. While the Corporation attributes a portion of the allowance to individual loans and groups of loans that it evaluates and determines to be impaired, the allowance is available to cover all charge-offs that arise from the loan portfolio. The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. The Corporation performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Corporation’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The allowance consists of specific and general components. The specific component relates to loans that are classified as impaired, generally nonaccrual loans and troubled debt restructurings. For loans that are classified as impaired, an allowance is established when the collateral value (or discounted cash flows or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class including commercial loans not considered impaired, as well as smaller balance homo geneous loans, such as residential real estate, home equity and other consumer loans. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these classes of loans, adjusted for qualitative (environmental) risk factors. Historical loss rates are based on a two year rolling average of net charge-offs. Qualitative risk factors that supplement historical losses in the evaluation of loan pools are shown below. Each factor is assigned a value to reflect improving, stable or declining conditions based on the Corporation’s best judgment using relevant information available at the time of the evaluation. Chan ges in international, US, and local economies and business conditions Changes in the value of collateral for collateral dependent loans Changes in the level of concentrations of credit Changes in the volume and severity of classified and past due loans Changes in the nature and volume of the portfolio Changes in collection, charge-off, and recovery procedures Changes in underwriting standards and loan terms Changes in the quality of the loan review system Changes in the experience/ability of lending management and key lending staff Regulatory and legal regulations that could affect the level of credit losses Other pertinent environmental factors As disclosed in Note 4-Loans, the Corporation engages in commercial and consumer lending. Loans are made within the Corporation’s primary market area and surrounding areas, and include the purchase of whole loan or participation interests in loans from other financial institutions. Commercial loans, which pose the greatest risk of loss to the Corporation, whether originated or purchased, are generally secured by real estate. Within the broad commercial loan segment, the builder & developer and commercial real estate investor loan classes generally present a higher level of risk than other commercial loan classifications. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effect of general economic conditions on income producing properties, unstable real estate prices and the dependency upon successful construction and sale or operation of the real estate project. Within the consumer loan segment, junior (i.e., second) liens present a slightly higher risk to the Corporation because economic and housing market conditions can adversely affect the underlying value of the collateral and the ability of some borrowers to service their debt. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The Corporation determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Loans that are deemed impaired are evaluated for impairment loss based on the net realizable value of the collateral, as applicable. Loans that are not collateral dependent will rely on the present value of expected future cash flows discounted at the loan’s effective interest rate to determine impairment loss. Large groups of smaller balance homogeneous loans such as residential mortgage loans, home equity loans and other consumer loans are collectively evaluated for impairment, unless they are classified as impaired. An allowance for loan losses is established for an impaired commercial loan if its carrying value exceeds its estimated fair value. For commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals of the underlying collateral. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the most recent appraisal and the condition of the property. Appraisals are generally discounted to provide for selling costs and other factors to determine an estimate of the net realizable value of the property. For commercial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. In instances when specific consumer related loans become impaired, they may be partially or fully charged off, which obviates the need for a specific allowance. Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants borrowers experiencing financial difficulties concessions that it would not otherwise consider. Concessions granted under a troubled debt restructuring may involve an interest rate that is below the market rate given the associated credit risk of the loan or an extension of a loan’s stated maturity date. Loans classified as troubled debt restructurings are designated as impaired. Non-accrual troubled debt restructurings are restored to accrual status if principal and interest payments, under the modified terms, are current for a reasonable period of time, generally six consecutive months after modification and future payments are reasonably assured. Transfers of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Corporation, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Corporation does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Bank Premises and Equipment Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation. Depreciation expense is calculated principally on the straight-line method over the assets’ estimated useful lives. Estimated useful lives are five years to forty years for buildings and improvements, five years to twenty years for furniture and equipment and two years to seven years for computer equipment and software. Maintenance and repairs are charged to expense as incurred. The cost of significant improvements to existing assets is capitalized and amortized over the shorter of the asset’s useful life or related lease term. When facilities are retired or otherwise disposed of, the depreciated cost is removed from the asset accounts, and any gain or loss is reflected in the statement of income. Bank premises and equipment designated as held for sale are carried at the lower of cost or fair value. The balance of $ 567,000 at December 31, 2022 and December 31, 2021 consisted of one retail banking property which closed in the second quarter 2022. Bank premises and equipment designated as held for sale is included in other assets on the Consolidated Balance Sheets. Foreclosed Real Estate Foreclosed real estate, included in other assets, is comprised of property acquired through a foreclosure proceeding or property that is acquired through in substance foreclosure. Foreclosed real estate is initially recorded at fair value minus estimated costs to sell at the date of foreclosure, establishing a new cost basis. Any difference between the carrying value and the new cost basis is charged against the allowance for loan losses. Appraisals, obtained from an independent third party, are generally used to determine fair value. After foreclosure, management reviews valuations at least quarterly and adjusts the asset to the lower of cost or fair value minus estimated costs to sell through a valuation allowance or a charge-off. Costs related to the improvement of foreclosed real estate are generally capitalized until the real estate reaches a saleable condition subject to fair value limitations. Revenue and expense from operations and changes in the valuation allowance are included in noninterest expense. When a foreclosed real estate asset is ultimately sold, any gain or loss on the sale is included in the income statement as a component of noninterest expense. At December 31, 2022 there was $ 479,000 of foreclosed commercial real estate, compared to no foreclosed real estate at December 31, 2021. Included within loans receivable as of December 31, 2022, was a recorded investment of $ 124,000 of consumer mortgage loans secured by residential real estate properties, for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction compared to $ 102,000 as of December 31, 2021. Bank Owned Life Insurance PeoplesBank invests in bank owned life insurance (BOLI) as a source of funding for employee benefit expenses. BOLI involves the purchasing of life insurance by PeoplesBank on a select group of employees and members of the board of directors. PeoplesBank is the owner and beneficiary of the policies. This life insurance investment is carried at the cash surrender value of the underlying policies and is included in other assets in the amount of $ 55,897,000 at December 31, 2022, compared to $ 54,644,000 at December 31, 2021. Mortgage Servicing Rights PeoplesBank retained servicing of sold mortgage loans beginning in 2016. In 2020 PeoplesBank began selling mortgages with servicing released for the majority of the new portfolio. The mortgage servicing rights (MSRs) associated with previously sold loans are included in other assets on the consolidated balance sheets at an amount equal to the estimated fair value of the contractual rights to service the mortgage loans. The MSR asset is amortized as a reduction to servicing income which was $ 153,000 and $ 287,000 in 2022 and 2021, respectively. Mortgage servicing income is included in other income in the statements of income. The MSR asset is evaluated periodically for impairment and carried at the lower of amortized cost or fair value. A third party calculates fair value by discounting the estimated cash flows from servicing income using a rate consistent with the risk associated with these assets and an expected life commensurate with the expected life of the underlying loans. In the event that the amortized cost of the MSR asset exceeds the fair value of the asset, a valuation allowance would be established through a charge against servicing income. Subsequent fair value evaluations may determine that impairment has been reduced or eliminated, in which case the valuation allowance would be reduced through a credit to earnings. At December 31, 2022, the balance of residential mortgage loans serviced for third parties was $ 55,708,000 compared to $ 66,885,000 at December 31, 2021. The following table summarizes the changes in MSRs, which are included in other assets on the consolidated balance sheets. Years ended December 31, (dollars in thousands) 2022 2021 Amortized cost: Balance at beginning of year $ 380 $ 511 Originations of mortgage servicing rights 6 39 Amortization expense ( 107 ) ( 266 ) Valuation allowance 0 96 Balance at end of year $ 279 $ 380 Trust and Investment Services Assets Assets held by PeoplesBank in a fiduciary or agency capacity for its clients are not included in the consolidated balance sheets since these items are not assets of PeoplesBank. At December 31, 2022, the market value of assets was $ 820,283,000 compared to $ 857,798,000 at December 31, 2021. Advertising Advertising costs are charged to expense when incurred. Income Taxes Deferred income taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted through the provision for income taxes for the effects of changes in tax laws and rates on the effective date. The Corporation accounts for uncertain tax positions as required by FASB ASC Topic 740. FASB ASC Topic 740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. Specifically, the accounting standard prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return as well as guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. No significant income tax uncertainties have been identified by the Corporation; therefore, the Corporation recognized no adjustment for unrecognized income tax benefits for the years ended December 31, 2022 and 2021. The Corporation’s policy is to recognize interest and penalties on unrecognized tax benefits in income taxes expense in the Consolidated Statement of Income. The tax years subject to examination by the taxing authorities are the years ended December 31, 2021, 2020, and 2019. Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 16 – Fair Value Measurements and Fair Values of Financial Instruments. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect the estimates. Goodwill and Core Deposit Intangible Assets Goodwill arising from acquisitions is not amortized, but is subject to an annual impairment test. This test consists of a qualitative analysis. If the Corporation determines events or circumstances indicate that it is more likely than not that goodwill is impaired, a quantitative analysis must be completed. Analyses may also be performed between annual tests. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions, and selecting an appropriate control premium. The Corporation completes its annual goodwill impairment test on October 1 st of each year. Based upon a qualitative analysis of goodwill, the Corporation concluded that the amount of recorded goodwill was not impaired as of October 1, 2022. Core deposit intangibles represent the value assigned to demand, interest checking, money market, and savings accounts acquired as part of an acquisition. The core deposit intangible value represents the future economic benefit of potential cost savings from acquiring core deposits as part of an acquisition compared to the cost of alternative funding sources and the alternative cost to grow a similar core deposit base. The core deposit intangible asset resulting from the merger with Madison Bancorp, Inc. was determined to have a definite life and is being amortized using the sum of the years’ digits method over ten years . All intangible assets must be evaluated for impairment if certain events or changes in circumstances occur. Any impairment write-downs would be recognized as expense on the consolidated statements of income. At December 31, 2022, the Corporation does not have any indicators of potential impairment of either goodwill or core deposit intangibles. Revenue from Contracts with Customers The majority of the Corporation’s revenue-generating transactions are not within the scope of ASC 606, including revenue generated from financial instruments, such as our loans, letters of credit, derivatives and investment securities, as well as revenue related to our mortgage servicing activities, as these activities are subject to other U.S. Generally Accepted Accounting Principles (GAAP) discussed elsewhere within our disclosures. Descriptions of our revenue-generating activities that are within the scope of ASC 606, which are presented in our consolidated statements of income as components of non-interest income are as follows: Trust and investment service fees – The Corporation provides trust, investment management custody and irrevocable life insurance trust services to customers. Such services are rendered in accordance with the underlying contracts for which fees are earned. The Corporation’s performance obligations are generally satisfied, and the related revenue recognized, over the period in which the service is provided. Payment for services rendered is primarily received in the following month. Income from mutual fund, annuity and insurance sales – The Corporation sells mutual funds, annuity and insurance products to its customers. The Corporation’s performance obligation is met upon the signing of the product agreement and, in certain cases, a time component may exist when the customer has the right to rescind the agreement with or without penalty. The Corporation recognizes revenues upon delivery of the product or service unless there is a time component in which case revenues are recognized utilizing the expected value method. Payment for services rendered is primarily received in the following month. Service charges on deposits accounts – These represent general service fees for monthly account maintenance and activity- or transaction based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Other service charges include revenue from processing wire transfers, cashier’s checks and other services. Revenue is recognized when the performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to the customers’ accounts. Other noninterest income – The Corporation evaluated individual components of other noninterest income, such as credit card merchant fees, credit and gift card fees and ATM fees. Debit card income is primarily comprised of interchange fees earned whenever the Corporation’s debit cards are processed through payment networks, such as Visa. Credit and gift card income is realized through a third party provider who issues credits as private label in the Corporation’s name. ATM fees are primarily generated when a non-Corporation cardholder uses a Corporation ATM. The income is primarily comprised as a percentage of interchange fees earned whenever the issuer’s card is processed through card payment networks, such as Visa or Pulse. Merchant services income is realized through a third party service provider who is contracted by the Corporation under a refe |
Restrictions On Cash And Due Fr
Restrictions On Cash And Due From Banks | 12 Months Ended |
Dec. 31, 2022 | |
Restrictions On Cash And Due From Banks [Abstract] | |
Restrictions On Cash And Due From Banks | NOTE 2-Restrictions on Cash and Due from Banks PeoplesBank is required to maintain average reserves, in the form of cash and balances with the Federal Reserve Bank, against its deposit liabilities. In 2022 and 2021, the reserves were met with vault cash. PeoplesBank is also required to maintain compensating balances with certain correspondent banks, which totaled $ 65,000 at December 31, 2022 and 2021. |
Securities
Securities | 12 Months Ended |
Dec. 31, 2022 | |
Securities [Abstract] | |
Securities | NOTE 3-Securities A summary of securities, available-for-sale at December 31, 2022 and 2021 is provided below. The securities available-for-sale portfolio is generally comprised of high quality debt instruments, principally obligations of the United States government or agencies thereof, investments in the obligations of states and municipalities and selected corporate securities, including subordinated debt. At year-end 2022 and 2021, there were no holdings of securities of any one issuer, other than the US Government and its agencies, in an amount greater than 10% of shareholders’ equity. Amortized Gross Unrealized Fair (dollars in thousands) Cost Gains Losses Value December 31, 2022 Debt securities: U.S. Treasury notes $ 19,688 $ 0 $ ( 588 ) $ 19,100 U.S. agency 12,750 0 ( 1,470 ) 11,280 U.S. agency mortgage-backed, residential 283,436 43 ( 33,377 ) 250,102 State and municipal 35,517 37 ( 6,155 ) 29,399 Corporates 39,531 0 ( 3,955 ) 35,576 Total debt securities $ 390,922 $ 80 $ ( 45,545 ) $ 345,457 December 31, 2021 Debt securities: U.S. agency $ 3,500 $ 0 $ ( 104 ) $ 3,396 U.S. agency mortgage-backed, residential 181,783 2,148 ( 1,996 ) 181,935 State and municipal 36,319 250 ( 413 ) 36,156 Corporates 32,891 166 ( 259 ) 32,798 Total debt securities $ 254,493 $ 2,564 $ ( 2,772 ) $ 254,285 The proceeds from sales of securities and the associated gains and losses are listed below. Realized gains and losses are computed on the basis of specific identification of the adjusted cost of each security and are shown net as a separate line item in the income statement. Years ended December 31, (dollars in thousands) 2022 2021 Proceeds $ 4,800 $ 3,803 Gross gains 0 24 Gross losses ( 119 ) ( 47 ) The tax benefit related to these net realized losses were $ 28 and $ 5 respectively. The amortized cost and estimated fair value of debt securities at December 31, 2022 by contractual maturity are shown below. Actual maturities may differ from contractual maturities if call options on selected debt issues are exercised in the future. Mortgage-backed securities are included in the maturity categories based on average expected life. Available-for-sale Amortized Fair (dollars in thousands) Cost Value Due in one year or less $ 2,761 $ 2,732 Due after one year through five years 122,955 115,083 Due after five years through ten years 221,656 191,056 Due after ten years 43,550 36,586 Total debt securities $ 390,922 $ 345,457 Investment securities having a carrying value of $ 204,887,000 and $ 184,938,000 on December 31, 2022 and December 31, 2021, respectively, were pledged to secure public and trust deposits, repurchase agreements and other short-term borrowings. The table below shows gross unrealized losses and fair value, aggregated by investment category and length of time, for securities that have been in a continuous unrealized loss position, at December 31, 2022 and 2021. Less than 12 months 12 months or more Total Number of Fair Unrealized Number of Fair Unrealized Number of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses December 31, 2022 Debt securities: U.S. Treasury notes 4 $ 19,100 $ ( 588 ) 0 $ 0 $ 0 4 $ 19,100 $ ( 588 ) U.S. agency 7 7,594 ( 656 ) 3 3,685 ( 814 ) 10 11,279 ( 1,470 ) U.S. agency mortgage-backed, residential 147 140,409 ( 11,071 ) 72 102,061 ( 22,284 ) 219 242,470 ( 33,355 ) State and municipal 6 2,334 ( 210 ) 35 25,121 ( 5,945 ) 41 27,455 ( 6,155 ) Corporates 11 11,610 ( 831 ) 20 20,665 ( 3,124 ) 31 32,275 ( 3,955 ) Total temporarily impaired debt securities, available-for-sale 175 $ 181,047 $ ( 13,356 ) 130 $ 151,532 $ ( 32,167 ) 305 $ 332,579 $ ( 45,523 ) December 31, 2021 Debt securities: U.S. agency 2 $ 3,396 $ ( 104 ) 0 $ 0 $ 0 2 $ 3,396 $ ( 104 ) U.S. agency mortgage-backed, residential 62 112,395 ( 1,665 ) 5 12,373 ( 331 ) 67 124,768 ( 1,996 ) State and municipal 22 20,481 ( 355 ) 2 2,749 ( 58 ) 24 23,230 ( 413 ) Corporates 13 15,737 ( 244 ) 1 485 ( 15 ) 14 16,222 ( 259 ) Total temporarily impaired debt securities, available-for-sale 99 $ 152,009 $ ( 2,368 ) 8 $ 15,607 $ ( 404 ) 107 $ 167,616 $ ( 2,772 ) Securities available-for-sale are analyzed quarterly for possible other-than-temporary impairment. The analysis considers, among other factors: 1) whether the Corporation has the intent to sell its securities prior to market recovery or maturity; 2) whether it is more likely than not that the Corporation will be required to sell its securities prior to market recovery or maturity; 3) default rates/history by security type; 4) third-party securities ratings; 5) third-party guarantees; 6) subordination; 7) payment delinquencies; 8) nature of the issuer; and 9) current financial news. The Corporation believes that any unrealized losses at December 31, 2022 were primarily the result of changes in market interest rates and that it has the ability to hold these investments for a time necessary to recover the amortized cost. Through December 31, 2022 the Corporation has collected all interest and principal on its investment securities as scheduled. The Corporation believes that collection of the contractual principal and interest is probable and, therefore, all impairment is considered to be temporary. |
Loans
Loans | 12 Months Ended |
Dec. 31, 2022 | |
Loans [Abstract] | |
Loans | NOTE 4-Loans Loan Portfolio Composition The table below provides the composition of the loan portfolio at December 31, 2022 and 2021. The portfolio is comprised of two segments, commercial and consumer loans. The commercial loan segment is disaggregated by industry class which allows the Corporation to monitor risk and performance. Those industries representing the largest dollar investment and most risk are listed separately. The “Other” commercial loans category is comprised of various industries. The consumer related segment is comprised of residential mortgages, home equity and other consumer loans. The Corporation has not engaged in sub-prime residential mortgage originations. December 31, % Total December 31, % Total (dollars in thousands) 2022 Loans 2021 Loans Builder & developer $ 128,327 7.9 $ 156,462 10.2 Commercial real estate investor 367,366 22.5 322,887 21.1 Residential real estate investor 263,262 16.1 227,017 14.8 Hotel/Motel 94,471 5.8 70,254 4.6 Wholesale & retail 60,672 3.7 76,340 5.0 Manufacturing 86,593 5.3 72,720 4.8 Agriculture 91,449 5.6 95,317 6.2 Service 73,094 4.5 65,163 4.3 Other 209,116 12.8 222,179 14.5 Total commercial related loans 1,374,350 84.2 1,308,339 85.5 Residential mortgages 135,340 8.3 103,741 6.8 Home equity 98,030 6.0 94,842 6.2 Other 25,137 1.5 22,829 1.5 Total consumer related loans 258,507 15.8 221,412 14.5 Total loans $ 1,632,857 100.0 $ 1,529,751 100.0 Concentrations of Credit Risk Concentrations of credit risk arise when a number of clients are engaged in similar business activities in the same geographic region or have similar economic features or other correlations that could cause their ability to meet contractual obligations to be similarly affected. Most of the Corporation's business is with clients in south central Pennsylvania, specifically York County and Lancaster County and north central Maryland, specifically Baltimore County, Harford County and Baltimore City. At December 31, 2022, the Corporation had two industry concentrations that exceeded 10 percent of the total loan portfolio : commercial real estate investor, which represented 22.5 percent of the portfolio and residential real estate investor, which represented 16.1 percent of the portfolio. At December 31, 2021, the Corporation had three industry concentrations that exceeded 10 percent of the total loan portfolio : commercial real estate investor, which represented 21.1 percent of the portfolio, residential real estate investor, which represented 14.8 percent of the portfolio and builder & developer, which represented 10.2 percent of the portfolio. Loans to borrowers within these industries are usually collateralized by real estate. The principal balance of outstanding loans to directors, executive officers, principal shareholders and any affiliates of such persons was $ 11,041,000 at December 31, 2022 and $ 9,516,000 at December 31, 2021. During 2022, total additions were $ 3,249,000 and total repayments and reductions were $ 1,724,000 . As of year-end 2022, all loans to this group were current and performing in accordance with contractual terms. Loan Risk Ratings The Corporation’s internal risk rating system follows regulatory guidance as to risk classifications and definitions. Every approved loan is assigned a risk rating. Generally, risk ratings for commercial related loans are determined by a formal evaluation of risk factors performed by the Corporation’s underwriting staff. For consumer and residential mortgage loans, the Corporation follows the Uniform Retail Credit Classification guidance. Commercial loans up to $ 500,000 may be scored using third-party credit scoring software models for risk rating purposes. The loan portfolio is monitored on a continuous basis by loan officers, loan review personnel and senior management. Adjustments of loan risk ratings within the Watch, Criticized and Classified categories are generally performed by the Watch & Special Asset Committee, which includes senior management. The Committee, which typically meets at least quarterly, makes changes, as appropriate, to risk ratings. In addition to review by the Committee, existing loans are monitored by the primary loan officer and loan review officer to determine if any changes, upward or downward, in risk ratings are appropriate. Primary loan officers may recommend a change to a risk rating and internal loan review officers may downgrade existing loans, except to non-accrual status. Only the President/CEO or CFO may downgrade a loan to non-accrual status. The Special Assets Committee or President/CEO may upgrade a loan that is criticized or classified. The Corporation uses eleven risk ratings to grade commercial loans. The first six ratings are considered “pass” ratings. A pass rating is a satisfactory credit rating, which applies to a loan that is expected to perform in accordance with the loan agreement and has a low probability of loss. A loan rated “special mention” has a potential weakness which may, if not corrected, weaken the loan or inadequately protect the Corporation’s position at some future date. A loan rated “substandard” is inadequately protected by the current sound worth and paying capacity of the obligor, or of the collateral pledged. A “substandard” loan must have a well-defined weakness or weaknesses that could jeopardize liquidation of the loan, which exposes the Corporation to potential loss if the deficiencies are not corrected. When circumstances indicate that collection of the loan is doubtful, the loan is risk-rated “nonaccrual,” the accrual of interest income is discontinued, and any unpaid interest previously credited to income is reversed. The table below does not include the regulatory classification of “doubtful,” nor does it include the regulatory classification of “loss”, because the Corporation promptly charges off loan losses. The table below presents a summary of loan risk ratings by loan class at December 31, 2022 and 2021. Special (dollars in thousands) Pass Mention Substandard Nonaccrual Total December 31, 2022 Builder & developer $ 124,572 $ 1,010 $ 972 $ 1,773 $ 128,327 Commercial real estate investor 367,144 0 0 222 367,366 Residential real estate investor 262,406 0 0 856 263,262 Hotel/Motel 89,710 0 4,761 0 94,471 Wholesale & retail 59,930 56 686 0 60,672 Manufacturing 81,552 1,444 632 2,965 86,593 Agriculture 87,896 2,260 381 912 91,449 Service 68,373 384 4,337 0 73,094 Other 192,194 4,934 8,552 3,436 209,116 Total commercial related loans 1,333,777 10,088 20,321 10,164 1,374,350 Residential mortgage 134,850 0 141 349 135,340 Home equity 97,573 0 0 457 98,030 Other 25,137 0 0 0 25,137 Total consumer related loans 257,560 0 141 806 258,507 Total loans $ 1,591,337 $ 10,088 $ 20,462 $ 10,970 $ 1,632,857 December 31, 2021 Builder & developer $ 142,983 $ 6,016 $ 6,656 $ 807 $ 156,462 Commercial real estate investor 316,976 929 1,039 3,943 322,887 Residential real estate investor 226,126 0 611 280 227,017 Hotel/Motel 40,789 0 17,273 12,192 70,254 Wholesale & retail 73,821 1,346 1,173 0 76,340 Manufacturing 67,544 0 51 5,125 72,720 Agriculture 90,226 80 714 4,297 95,317 Service 57,667 404 6,121 971 65,163 Other 201,226 1,384 14,197 5,372 222,179 Total commercial related loans 1,217,358 10,159 47,835 32,987 1,308,339 Residential mortgage 103,669 0 10 62 103,741 Home equity 94,358 47 0 437 94,842 Other 22,733 0 0 96 22,829 Total consumer related loans 220,760 47 10 595 221,412 Total loans $ 1,438,118 $ 10,206 $ 47,845 $ 33,582 $ 1,529,751 Impaired Loans The table below presents a summary of impaired loans at December 31, 2022 and 2021. Generally, impaired loans are all loans risk rated nonaccrual or classified as troubled debt restructurings. An allowance is established for those individual loans that are commercial related where the Corporation has doubt as to full recovery of the outstanding principal balance. Typically, impaired consumer related loans are partially or fully charged-off eliminating the need for a specific allowance. The recorded investment represents outstanding unpaid principal loan balances adjusted for payments collected on a non-cash basis and charge-offs. With No Allowance With A Related Allowance Total Recorded Unpaid Recorded Unpaid Related Recorded Unpaid (dollars in thousands) Investment Principal Investment Principal Allowance Investment Principal December 31, 2022 Builder & developer $ 1,901 $ 2,644 $ 44 $ 44 $ 44 $ 1,945 $ 2,688 Commercial real estate investor 500 500 0 0 0 500 500 Residential real estate investor 647 665 209 215 152 856 880 Hotel/Motel 0 0 0 0 0 0 0 Wholesale & retail 0 0 0 0 0 0 0 Manufacturing 2,783 2,877 182 183 33 2,965 3,060 Agriculture 164 210 748 930 655 912 1,140 Service 0 0 0 0 0 0 0 Other commercial 1,836 3,037 1,600 2,338 1,600 3,436 5,375 Total impaired commercial related loans 7,831 9,933 2,783 3,710 2,484 10,614 13,643 Residential mortgage 1,112 1,115 0 0 0 1,112 1,115 Home equity 457 512 0 0 0 457 512 Other consumer 0 0 0 0 0 0 0 Total impaired consumer related loans 1,569 1,627 0 0 0 1,569 1,627 Total impaired loans $ 9,400 $ 11,560 $ 2,783 $ 3,710 $ 2,484 $ 12,183 $ 15,270 December 31, 2021 Builder & developer $ 991 $ 1,078 $ 0 $ 0 $ 0 $ 991 $ 1,078 Commercial real estate investor 2,834 2,854 1,878 1,878 1,464 4,712 4,732 Residential real estate investor 280 438 0 0 0 280 438 Hotel/Motel 12,192 12,754 0 0 0 12,192 12,754 Wholesale & retail 0 0 0 0 0 0 0 Manufacturing 5,125 5,501 0 0 0 5,125 5,501 Agriculture 2,709 2,893 1,588 1,784 467 4,297 4,677 Service 0 0 971 1,061 377 971 1,061 Other commercial 3,622 4,376 1,750 2,389 1,750 5,372 6,765 Total impaired commercial related loans 27,753 29,894 6,187 7,112 4,058 33,940 37,006 Residential mortgage 62 64 0 0 0 62 64 Home equity 437 474 0 0 0 437 474 Other consumer 96 104 0 0 0 96 104 Total impaired consumer related loans 595 642 0 0 0 595 642 Total impaired loans $ 28,348 $ 30,536 $ 6,187 $ 7,112 $ 4,058 $ 34,535 $ 37,648 The table below presents a summary of average impaired loans and related interest income that was included in net income for the years ended December 31, 2022 and 2021. Interest income on loans is the result of interest collected on a cash basis, except accruing TDRs. With No Related Allowance With A Related Allowance Total Average Total Average Total Average Total Recorded Interest Recorded Interest Recorded Interest (dollars in thousands) Investment Income Investment Income Investment Income December 31, 2022 Builder & developer $ 1,168 $ 0 $ 605 $ 0 $ 1,773 $ 0 Commercial real estate investor 2,494 22 376 0 2,870 22 Residential real estate investor 502 27 127 0 629 27 Hotel/Motel 4,854 0 0 0 4,854 0 Wholesale & retail 0 0 0 0 0 0 Manufacturing 4,139 37 37 5 4,176 42 Agriculture 1,219 534 766 0 1,985 534 Service 0 0 388 0 388 0 Other commercial 1,164 177 3,197 0 4,361 177 Total impaired commercial related loans 15,540 797 5,496 5 21,036 802 Residential mortgage 584 19 224 8 808 27 Home equity 459 30 0 0 459 30 Other consumer 55 15 0 0 55 15 Total impaired consumer related loans 1,098 64 224 8 1,322 72 Total impaired loans $ 16,638 $ 861 $ 5,720 $ 13 $ 22,358 $ 874 December 31, 2021 Builder & developer $ 919 $ 0 $ 0 $ 0 $ 919 $ 0 Commercial real estate investor 1,431 45 376 0 1,807 45 Residential real estate investor 1,302 72 1,044 17 2,346 89 Hotel/Motel 12,443 0 0 0 12,443 0 Wholesale & retail 94 13 0 0 94 13 Manufacturing 7,025 19 0 0 7,025 19 Agriculture 3,334 125 1,202 0 4,536 125 Service 583 0 388 0 971 0 Other commercial 4,621 26 3,542 61 8,163 87 Total impaired commercial related loans 31,752 300 6,552 78 38,304 378 Residential mortgage 56 0 0 0 56 0 Home equity 561 0 0 0 561 0 Other consumer 197 6 0 0 197 6 Total impaired consumer related loans 814 6 0 0 814 6 Total impaired loans $ 32,566 $ 306 $ 6,552 $ 78 $ 39,118 $ 384 Past Due and Nonaccrual The performance and credit quality of the loan portfolio is also monitored by using an aging schedule which shows the length of time a loan is past due. The table below presents a summary of past due loans, nonaccrual loans and current loans by loan segment and class at December 31, 2022 and 2021. ≥ 90 Days 30-59 60-89 Past Due Total Past Days Days and Due and Total (dollars in thousands) Past Due Past Due Accruing Nonaccrual Nonaccrual Current Loans December 31, 2022 Builder & developer $ 3,500 $ 0 $ 0 $ 1,773 $ 5,273 $ 123,054 $ 128,327 Commercial real estate investor 0 0 0 222 222 367,144 367,366 Residential real estate investor 0 0 0 856 856 262,406 263,262 Hotel/Motel 0 0 0 0 0 94,471 94,471 Wholesale & retail 0 0 0 0 0 60,672 60,672 Manufacturing 0 0 0 2,965 2,965 83,628 86,593 Agriculture 8 0 0 912 920 90,529 91,449 Service 0 0 0 0 0 73,094 73,094 Other 0 0 0 3,436 3,436 205,680 209,116 Total commercial related loans 3,508 0 0 10,164 13,672 1,360,678 1,374,350 Residential mortgage 207 0 0 349 556 134,784 135,340 Home equity 345 94 0 457 896 97,134 98,030 Other 7 42 0 0 49 25,088 25,137 Total consumer related loans 559 136 0 806 1,501 257,006 258,507 Total loans $ 4,067 $ 136 $ 0 $ 10,970 $ 15,173 $ 1,617,684 $ 1,632,857 December 31, 2021 Builder & developer $ 0 $ 0 $ 0 $ 807 $ 807 $ 155,655 $ 156,462 Commercial real estate investor 0 812 0 3,943 4,755 318,132 322,887 Residential real estate investor 0 0 0 280 280 226,737 227,017 Hotel/Motel 0 0 0 12,192 12,192 58,062 70,254 Wholesale & retail 0 183 0 0 183 76,157 76,340 Manufacturing 0 0 0 5,125 5,125 67,595 72,720 Agriculture 0 0 324 4,297 4,621 90,696 95,317 Service 0 0 0 971 971 64,192 65,163 Other 9 34 0 5,372 5,415 216,764 222,179 Total commercial related loans 9 1,029 324 32,987 34,349 1,273,990 1,308,339 Residential mortgage 0 308 0 62 370 103,371 103,741 Home equity 193 0 0 437 630 94,212 94,842 Other 5,869 132 0 96 6,097 16,732 22,829 Total consumer related loans 6,062 440 0 595 7,097 214,315 221,412 Total loans $ 6,071 $ 1,469 $ 324 $ 33,582 $ 41,446 $ 1,488,305 $ 1,529,751 Troubled Debt Restructurings Loans classified as troubled debt restructurings (TDRs) are designated impaired and arise when the Corporation grants borrowers experiencing financial difficulties concessions that it would not otherwise consider. Concessions granted with respect to these loans involve an extension of the maturity date or a below market interest rate relative to new debt with similar credit risk. The principal balance of outstanding TDRs was $ 2,813,000 at December 31, 2022 and $ 954,000 at December 31, 2021. There was a $ 1,600,000 allowance allocated at December 31, 2022 and none at December 31, 2021. There are no commitments to lend to existing TDRs. A TDR is considered to be in payment default once it is contractually past due pursuant to the terms of the loan documents. Generally, these loans are secured by real estate. If repayment of the loan is determined to be collateral dependent, the loan is evaluated for impairment loss based on the fair value of the collateral. For loans that are not collateral dependent, the present value of expected future cash flows, discounted at the loan’s original effective interest rate, is used to determine any impairment loss. A nonaccrual TDR represents a nonaccrual loan, as previously defined, which includes an economic concession. Nonaccrual TDRs are restored to accrual status if principal and interest payments, under the modified terms, are current for six consecutive payments after the modification and future principal and interest payments are reasonably assured. In contrast, an accruing TDR represents a loan that, at the time of the modification, has a demonstrated history of payments and with respect to which management believes that future loan payments are reasonably assured under the modified terms. At December 31, 2022, there are no modifications remaining under the CARES Act, which are not considered TDRs. At December 31, 2021, there were modifications remaining for five commercial loans totaling $ 33,352,000 and two mortgage loans totaling $ 1,694,000 and no consumer loans under the CARES Act, which are not considered TDRs. The below table shows loans whose terms have been modified as TDR’s during the 12 months ended December 31, 2022 and 2021. There were no defaults for the twelve months ended December 31, 2022 and 2021 for TDR’s entered into during the previous 12 month period. Modifications Number Recorded of Investment (dollars in thousands) Contracts at Period End Years ended: December 31, 2022 Commercial related loans nonaccrual 2 $ 0 Consumer related loans accruing 2 $ 763 Consumer related loans nonaccrual 1 $ 0 December 31, 2021 None |
Allowance For Loan Losses
Allowance For Loan Losses | 12 Months Ended |
Dec. 31, 2022 | |
Allowance For Loan Losses [Abstract] | |
Allowance For Loan Losses | NOTE 5-Allowance for Loan Losses The table below shows the activity in and the composition of the allowance for loan losses by loan segment and class detail as of and for the years ended December 31, 2022 and 2021. Allowance for Loan Losses January 1, 2022 December 31, 2022 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,408 $ ( 423 ) $ 12 $ ( 228 ) $ 1,769 Commercial real estate investor 5,647 ( 1,249 ) 1,249 ( 789 ) 4,858 Residential real estate investor 3,493 ( 52 ) 50 ( 678 ) 2,813 Hotel/Motel 968 ( 1,668 ) 179 2,179 1,658 Wholesale & retail 1,989 ( 41 ) 0 ( 1,460 ) 488 Manufacturing 883 0 0 47 930 Agriculture 1,307 ( 535 ) 40 833 1,645 Service 981 ( 763 ) 1 845 1,064 Other commercial 4,656 ( 1,747 ) 34 2,009 4,952 Total commercial related loans 22,332 ( 6,478 ) 1,565 2,758 20,177 Residential mortgage 186 0 0 84 270 Home equity 191 ( 49 ) 27 38 207 Other consumer 74 ( 28 ) 27 9 82 Total consumer related loans 451 ( 77 ) 54 131 559 Unallocated ( 1 ) 0 0 1 0 Total $ 22,782 $ ( 6,555 ) $ 1,619 $ 2,890 $ 20,736 Allowance for Loan Losses January 1, 2021 December 31, 2021 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,034 $ 0 $ 23 $ 351 $ 2,408 Commercial real estate investor 3,177 0 0 2,470 5,647 Residential real estate investor 3,944 ( 241 ) 61 ( 271 ) 3,493 Hotel/Motel 1,440 0 0 ( 472 ) 968 Wholesale & retail 2,416 0 0 ( 427 ) 1,989 Manufacturing 840 0 0 43 883 Agriculture 1,288 0 0 19 1,307 Service 457 0 0 524 981 Other commercial 5,002 ( 2,038 ) 32 1,660 4,656 Total commercial related loans 20,598 ( 2,279 ) 116 3,897 22,332 Residential mortgage 256 0 0 ( 70 ) 186 Home equity 287 ( 5 ) 3 ( 94 ) 191 Other consumer 101 ( 35 ) 55 ( 47 ) 74 Total consumer related loans 644 ( 40 ) 58 ( 211 ) 451 Unallocated 22 0 0 ( 23 ) ( 1 ) Total $ 21,264 $ ( 2,319 ) $ 174 $ 3,663 $ 22,782 The table below shows the allowance amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment at December 31, 2022 and 2021 along with the related loan balances for those years. Allowance for Loan Losses Loans Individually Collectively Individually Collectively Evaluated For Evaluated For Evaluated For Evaluated For (dollars in thousands) Impairment Impairment Balance Impairment Impairment Balance December 31, 2022 Builder & developer $ 44 $ 1,725 $ 1,769 $ 1,945 $ 126,382 $ 128,327 Commercial real estate investor 0 4,858 4,858 500 366,866 367,366 Residential real estate investor 152 2,661 2,813 856 262,406 263,262 Hotel/Motel 0 1,658 1,658 0 94,471 94,471 Wholesale & retail 0 488 488 0 60,672 60,672 Manufacturing 33 897 930 2,965 83,628 86,593 Agriculture 655 990 1,645 912 90,537 91,449 Service 0 1,064 1,064 0 73,094 73,094 Other commercial 1,600 3,352 4,952 3,436 205,680 209,116 Total commercial related 2,484 17,693 20,177 10,614 1,363,736 1,374,350 Residential mortgage 0 270 270 1,112 134,228 135,340 Home equity 0 207 207 457 97,573 98,030 Other consumer 0 82 82 0 25,137 25,137 Total consumer related 0 559 559 1,569 256,938 258,507 Unallocated 0 0 0 0 0 0 Total $ 2,484 $ 18,252 $ 20,736 $ 12,183 $ 1,620,674 $ 1,632,857 December 31, 2021 Builder & developer $ 0 $ 2,408 $ 2,408 $ 991 $ 155,471 $ 156,462 Commercial real estate investor 1,464 4,183 5,647 4,712 318,175 322,887 Residential real estate investor 0 3,493 3,493 280 226,737 227,017 Hotel/Motel 0 968 968 12,192 58,062 70,254 Wholesale & retail 0 1,989 1,989 0 76,340 76,340 Manufacturing 0 883 883 5,125 67,595 72,720 Agriculture 467 840 1,307 4,297 91,020 95,317 Service 377 604 981 971 64,192 65,163 Other commercial 1,750 2,906 4,656 5,372 216,807 222,179 Total commercial related 4,058 18,274 22,332 33,940 1,274,399 1,308,339 Residential mortgage 0 186 186 62 103,679 103,741 Home equity 0 191 191 437 94,405 94,842 Other consumer 0 74 74 96 22,733 22,829 Total consumer related 0 451 451 595 220,817 221,412 Unallocated 0 ( 1 ) ( 1 ) 0 0 0 Total $ 4,058 $ 18,724 $ 22,782 $ 34,535 $ 1,495,216 $ 1,529,751 |
Premises, Equipment And Leases
Premises, Equipment And Leases | 12 Months Ended |
Dec. 31, 2022 | |
Premises, Equipment And Leases [Abstract] | |
Premises, Equipment And Leases | NOTE 6-Premises, Equipment and Leases The following table presents a summary of premises and equipment as of December 31, 2022 and 2021. (dollars in thousands) 2022 2021 Land $ 4,092 $ 4,030 Buildings and improvements 27,351 26,982 Financing lease right-of-use assets 994 1,041 Equipment 24,943 23,753 Total premises and equipment 57,380 55,806 Less accumulated depreciation/amortization ( 36,244 ) ( 33,851 ) Premises and equipment, net $ 21,136 $ 21,955 A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. On January 1, 2019, the Corporation adopted ASU 2016-02 “ Leases” (Topic 842) and all subsequent ASUs that modified Topic 842. For the Corporation, Topic 842 affected the accounting treatment for operating lease agreements in which the Corporation is the lessee. Substantially all of the leases in which the Corporation is the lessee are comprised of real estate property, ATM locations, and office space. Substantially all of our leases are classified as operating leases, and therefore, were previously not recognized on the Corporation’s consolidated statements of condition. With the adoption of Topic 842, operating lease agreements are required to be recognized on the consolidated statements of condition as a right-of-use (“ROU”) asset and a corresponding lease liability. The Corporation has one finance lease for one financial center. Leases with an initial term of 12 months or less are not recorded on the consolidated statement of condition. The leases have remaining lease terms of 1 year to 25 years, some of which include options to extend. Upon opening a new financial center, we typically install brand-specific leasehold improvements which are depreciated over the shorter of the useful life or length of the lease. To the extent that the initial lease term of the related lease is less than the useful life of the leasehold improvements and, taking into consideration the dollar amount of the improvements, we conclude that it is reasonably certain that a renewal option will be exercised, the renewal period is included in the lease term, and the related payments are reflected in the ROU asset and lease liability. Regarding the discount rate, Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Corporation utilizes its incremental borrowing rate at lease inception, on an amortizing and collateralized basis, over a similar term. For operating leases existing prior to January 1, 2019, the rate for the remaining lease term as of January 1, 2019 was used. For the Corporation’s financing leases, the Corporation utilized its incremental borrowing rate at lease inception. All of our leases include fixed rental payments. We commonly enter into leases under which the lease payments increase at pre-determined dates based on the change in the consumer price index. While the majority of our leases are gross leases, we also have a number of leases in which we make separate payments to the lessor based on the lessor’s property and casualty insurance cost and the property taxes assessed on the property, as well as a portion of the common area maintenance associated with the property. We have elected the practical expedient not to separate lease and nonlease components for all of our building leases. The components of lease expense were as follows: Twelve months ended December 31, (dollars in thousands) 2022 2021 Operating lease cost $ 770 $ 601 Finance lease cost: Amortization of right-of-use assets $ 47 $ 47 Interest on lease liability 46 47 Total finance lease cost $ 93 $ 94 Total lease cost $ 863 $ 695 Supplemental cash flow information related to leases were as follows: Twelve months ended December 31, 2022 2021 Operating cash flows from operating leases $ 743 $ 624 Operating cash flows from financing leases 46 47 Financing cash flows from financing leases 29 28 Right-of-use assets obtained in exchange for lease obligations: Operating leases 2,061 18 Finance leases 0 0 Amounts recognized as right-of-use assets related to finance leases are included in fixed assets in the accompanying statement of financial position, while related lease liabilities are included in long-term debt. Supplemental balance sheet information related to leases was as follows: December 31, 2022 2021 Assets: Operating leases right-of-use assets $ 3,072 $ 1,697 Finance leases assets 994 1,041 Total lease assets $ 4,066 $ 2,738 Liabilities: Operating $ 3,204 $ 1,803 Financing 1,240 1,269 Total lease liabilities $ 4,444 $ 3,072 Weighted Average Remaining Lease Term (years) Operating leases 6.9 4.3 Finance leases 21.2 22.2 Weighted Average Discount Rate Operating leases 2.14 % 2.58 % Finance leases 3.69 % 3.69 % At December 31, 2022, future minimum payments for financing leases and operating leases are payable as follows: Year Ending December 31, Operating Leases Finance Leases 2023 $ 701 $ 75 2024 638 75 2025 417 79 2026 324 80 2027 314 80 Thereafter 1,036 1,429 Total lease payments 3,430 1,818 Less imputed interest ( 226 ) ( 578 ) Total $ 3,204 $ 1,240 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2022 | |
Deposits [Abstract] | |
Deposits | NOTE 7-Deposits The composition of deposits as of December 31, 2022 and 2021 is shown below. December 31, (dollars in thousands) 2022 2021 Noninterest bearing demand $ 463,853 $ 524,609 Interest bearing demand 289,298 261,945 Money market 646,702 744,224 Savings 161,228 151,272 Time deposits less than $100 210,331 247,398 Time deposits $100 to $250 123,002 151,377 Time deposits $250 or more 48,805 62,940 Total deposits $ 1,943,219 $ 2,143,765 Included above in time deposits less than $100,000 are brokered time deposits in the amount of $ 77,000 and $ 44,000 at December 31, 2022 and 2021, respectively. Included above in time deposits $100,000 to $250,000 are brokered time deposits in the amount of $ 1,396,000 and $ 2,154,000 at December 31, 2022 and 2021, respectively. The deposits from members of the board of directors, executive officers, principal shareholders and any affiliates of such persons were $ 4,768,000 at December 31, 2022 and $ 6,854,000 at December 31, 2021. The following table presents scheduled maturities of time deposits by year as of December 31, 2022. (dollars in thousands) 2022 2023 $ 262,893 2024 82,904 2025 30,068 2026 3,744 2027 2,103 Thereafter 426 Total time deposits $ 382,138 Demand deposit overdrafts reclassified as loans were $ 122,000 at December 31, 2022 and $ 55,000 at December 31, 2021. |
Short-Term Borrowings And Long-
Short-Term Borrowings And Long-Term Debt | 12 Months Ended |
Dec. 31, 2022 | |
Short-Term Borrowings And Long-Term Debt [Abstract] | |
Short-Term Borrowings And Long-Term Debt | NOTE 8-Short-term Borrowings and Long-term Debt The schedule below provides a summary of short-term borrowings that consist of securities sold under agreements to repurchase, federal funds purchased and other borrowings. Securities sold under agreements to repurchase are overnight borrowings between PeoplesBank and its commercial depositors and are subject to daily repricing. Federal Funds purchased from correspondent banks mature in one business day and reprice daily based on the Federal Funds rate. As of December 31, 2022, PeoplesBank’s total availability under Federal Funds lines was $ 13,000,000 . Other short-term borrowings consist of credit available through the Federal Home Loan Bank of Pittsburgh (FHLBP). PeoplesBank maintains a line-of-credit (Open Repo Plus) with the FHLBP which is a revolving term commitment used on an overnight basis. The term of this commitment may not exceed 364 days and it reprices daily at market rates. Under terms of a blanket collateral agreement with the FHLBP, the line-of-credit and long term advances are secured by FHLBP stock and qualifying real estate secured loans. As of December 31, 2022, PeoplesBank’s total availability was $ 676,626,000 with the FHLBP. The Corporation maintains a $ 3,000,000 line of credit with ACNB Bank to provide a source of liquidity. The line, renewable annually, is secured by a first lien on the Codorus Valley Corporate Center. The interest rate on the ACNB Bank line is Wall Street Journal Prime. No draws have been made on the line and on December 31, 2022 and 2021, the balance was zero . The following table presents a summary of aggregate short-term borrowings as of and for the years ended December 31, 2022 and December 31, 2021. 2022 2021 Other Other Repurchase Short-term Repurchase Short-term (dollars in thousands) agreements borrowings agreements borrowings Amount outstanding at end of year $ 11,605 $ 0 $ 10,761 $ 0 Weighted average interest rate at end of year 0.40 % 0 % 0.40 % 0 % Maximum amount outstanding at any month-end $ 14,249 $ 0 $ 13,393 $ 0 Daily average amount outstanding $ 11,986 $ 0 $ 10,451 $ 0 Approximate weighted average interest rate for the year 0.40 % 0 % 0.40 % 0 % Securities that serve as collateral for securities sold under agreements to repurchase and pledged to provide access to the Federal Reserve Bank Discount Window and other short-term borrowing remain in available-for-sale securities. The fair value of these securities was $ 14,433,000 and $ 12,967,000 on December 31, 2022 and 2021, respectively. The following table presents a summary of long-term debt as of December 31, 2022 and 2021. December 31, (dollars in thousands) 2022 2021 PeoplesBank’s obligations: FHLBP Due May 2022 , 2.93 % $ 0 $ 10,000 Total FHLBP 0 10,000 Codorus Valley Bancorp, Inc. obligations: Junior subordinated debt Due 2034 , 6.79 %, floating rate based on 3 month LIBOR plus 2.02 %, callable quarterly 3,093 3,093 Due 2036 , 5.62 % floating rate based on 3 month LIBOR plus 1.54 %, callable quarterly 7,217 7,217 Due 2030 , 4.50 %, fixed rate, callable on or after December 2025 30,764 30,683 Total junior subordinated debt $ 41,074 $ 40,993 Lease obligations included in long-term debt: Finance lease liabilities 1,240 1,269 Total long-term debt $ 42,314 $ 52,262 PeoplesBank’s long-term debt obligations to FHLBP are fixed rate instruments. In June 2006, Codorus Valley formed CVB Statutory Trust No. 2, a wholly-owned special purpose subsidiary whose sole purpose was to facilitate a pooled trust preferred debt issuance of $ 7,217,000 . In November 2004, Codorus Valley formed CVB Statutory Trust No. 1 to facilitate a pooled trust preferred debt issuance of $ 3,093,000 . The Corporation owns all of the common stock of these nonbank subsidiaries, and the debentures are the sole assets of the Trusts. The accounts of both Trusts are not consolidated for financial reporting purposes in accordance with FASB ASC 810. For regulatory capital purposes, all of the Corporation’s trust preferred securities qualified as Tier 1 capital for all reported periods. Trust preferred securities are subject to capital limitations under the FDIC’s risk-based capital guidelines. The Corporation used the net proceeds from these offerings to fund its operations. In December 2020, Codorus Valley issued subordinated notes in the amount of $ 31,000,000 . The Corporation may redeem the subordinated notes, in whole or in part, in a principal amount with integral multiples of $ 10,000 , on or after December 9, 2025 and prior to the maturity date at 100 % of the principal amount, plus accrued and unpaid interest. The subordinated notes mature on December 9, 2030 . The subordinated notes are also redeemable in whole or in part from time to time, upon the occurrence of specific events defined within the Note Purchase Agreements. The subordinated notes may be included in Tier 2 capital (with certain limitations applicable) under current regulatory guidelines and interpretations. The subordinated notes have a fixed rate of interest equal to 4.50 % until December 30, 2025. After that term, the variable rate of interest is equal to the then current 90-Day Average SOFR (Secured Oversight Financing Rate) plus 404 basis points. The following table presents long-term debt maturities by year as of December 31, 2022. (dollars in thousands) 2022 2023 $ 75 2024 75 2025 79 2026 80 2027 80 Thereafter 41,925 Total long-term debt $ 42,314 |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2022 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | NOTE 9-Regulatory Matters The Corporation is subject to restrictions on the payment of dividends to its shareholders pursuant to the Pennsylvania Business Corporation Law of 1988, as amended (“BCL”). The BCL prohibits dividend payments if such payment would render the Corporation insolvent or result in negative net worth. Federal and state banking regulations place certain restrictions on dividends paid and loans or advances made by PeoplesBank to the Corporation. The amount of total dividends, which may be paid to the Corporation by PeoplesBank at any date, is generally limited to the retained earnings of PeoplesBank. Furthermore, dividend payments would be prohibited if the effect thereof would cause PeoplesBank’s capital to be reduced below applicable minimum capital requirements as discussed below. Loans and advances by PeoplesBank to affiliates, including the Corporation, are limited to 10 percent of PeoplesBank’s capital stock and contributed capital on a secured basis. Banks are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. The net unrealized gain or loss on available for sale securities is not included in computing regulatory capital. Management believes as of December 31, 2022, the Bank met all capital adequacy requirements to which it is subject. Prompt corrective action regulations provide five classifications: well-capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At year-end 2022 and 2021, the most recent regulatory notifications categorized PeoplesBank as well-capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. The table below sets forth the Corporation’s and PeoplesBank’s capital position relative to its respective regulatory capital requirements at December 31, 2022 and 2021. To Be Well Capitalized Under Required for Capital Prompt Corrective Action Actual (1) Adequacy Purposes (2) (3) Provisions (2) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Codorus Valley Bancorp, Inc. (consolidated ) at December 31, 2022 Capital ratios: Common Equity Tier 1 $ 209,540 12.04 % $ 121,871 7.00 % $ n/a n/a % Tier 1 risk based 219,540 12.61 147,986 8.50 n/a n/a Total risk based 271,040 15.57 182,806 10.50 n/a n/a Leverage 219,540 9.77 89,863 4.00 n/a n/a at December 31, 2021 Capital ratios: Common Equity Tier 1 $ 193,142 12.11 % $ 111,612 7.00 % $ n/a n/a % Tier 1 risk based 203,142 12.74 135,529 8.50 n/a n/a Total risk based 253,791 15.92 167,418 10.50 n/a n/a Leverage 203,142 8.59 94,596 4.00 n/a n/a PeoplesBank, A Codorus Valley Company at December 31, 2022 Capital ratios: Common Equity Tier 1 $ 245,896 14.15 % $ 121,667 7.00 % $ 112,976 6.50 % Tier 1 risk based 245,896 14.15 147,738 8.50 139,048 8.00 Total risk based 266,632 15.34 182,500 10.50 173,810 10.00 Leverage 245,896 10.96 89,705 4.00 112,131 5.00 at December 31, 2021 Capital ratios: Common Equity Tier 1 $ 230,162 14.47 % $ 111,348 7.00 % $ 103,395 6.50 % Tier 1 risk based 230,162 14.47 135,208 8.50 127,255 8.00 Total risk based 250,081 15.72 167,022 10.50 159,069 10.00 Leverage 230,162 9.75 94,457 4.00 118,071 5.00 (1) Net unrealized gains and losses on securities available-for-sale, net of taxes, are disregarded for capital ratio computation purposes in accordance with federal regulatory banking guidelines. (2) The Corporation is currently not subject to the regulatory capital requirements imposed by Basel III on bank holding companies because the Corporation’s consolidated assets did not exceed $ 3.0 billion as of December 31, 2022 and therefore qualified as a small bank holding company. (3) Ratio includes Capital Conservation Buffer of 2.50 %, except Leverage Ratio, for which the Capital Conservation Buffer does not apply. |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2022 | |
Shareholders' Equity [Abstract] | |
Shareholders' Equity | NOTE 10-Shareholders’ Equity Share Repurchase The Corporation’s Board of Directors approved share repurchase programs in March 2020 ($ 5 million); January 2021 ($ 5 million); August 2021 ($ 5 million); and January 2022 ($ 5 million). In 2020, a total of 5,335 shares were repurchased at an average price of $ 16.37 ; in 2021, a total of 465,434 shares were purchased at an average price of $ 21.22 ; in 2022 a total of 1,535 shares were purchased at an average price of $ 22.00 . The Corporation’s Board of Directors approved a new Share Repurchase Program (“Program”) in January 2023. Under the newly approved Program, the Corporation is authorized to repurchase up to $ 5 million of the Corporation’s issued and outstanding common stock. All shares of the common stock repurchased pursuant to the Program shall be held as treasury shares and be available for use and reissuance for the purpose as and when determined by the Board of Directors including, without limitation pursuant to the Corporation’s Dividend Reinvestment and Stock Purchase Plan and its equity compensation plan. |
Benefit Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2022 | |
Benefit Plans [Abstract] | |
Benefit Plans | NOTE 11- Benefit Plans Defined Contribution Plan PeoplesBank maintains a 401(k) savings and investment plan covering substantially all employees. Under the plan, employees can contribute a percentage of their compensation subject to certain limits based on federal tax law. In 2022 and 2021, PeoplesBank made 100 percent matching contributions up to the first 4 percent of each employee’s compensation contributed to the plan, and both the employee and employer contributions vest immediately. PeoplesBank's expense for the 401(k) savings and investment plan was $ 769,000 for 2022 and $ 757,000 for 2021. The components of expense are included in the line item “personnel” expense in the statements of income. PeoplesBank maintains a supplemental defined contribution deferred compensation plan. Under the plan, PeoplesBank contributes a percentage of compensation to the executive. PeoplesBank’s expense for the defined contribution deferred compensation plan was $ 91,000 which includes interest of $ 13,800 for the period ended December 31, 2022. Expense for the plan was $ 71,000 which includes interest of $ 4,300 for the period ended December 31, 2021. The components of expense are included in the line item “personnel” expense in the statements of income. Total accrued liability for the defined contribution deferred compensation plan was $ 293,000 and $ 202,000 , respectively at December 31, 2022 and December 31, 2021. Supplemental Benefit Plans PeoplesBank maintains supplemental retirement plans for selected executives. The expense associated with these plans was approximately $ 326,000 for 2022 and $ 189,000 for 2021. The components of expense are included in the line item “personnel” expense in the income statement. The accrued liability for the supplemental retirement plans was $ 4,256,000 at December 31, 2022 and $ 4,297,000 at December 31, 2021. Income earned from bank owned life insurance policies was used to finance the cost of supplemental benefit plans, and provide a tax-exempt return to PeoplesBank. Directors Post Retirement Split-dollar Life Insurance Benefit PeoplesBank recorded net expense of $ 48,000 in 2022 and $ 165,000 in 2021, on bank owned life insurance policies with a post retirement split-dollar life insurance benefit. The components of expense are included in the line item “personnel” expense in the income statement. The accrued liability for the post retirement split-dollar benefit was $ 665,000 at December 31, 2022 and $ 714,000 at December 31, 2021. Directors and Executives Deferred Compensation Plans PeoplesBank maintains two plans for deferred compensation related to directors and executives. Under the plans, the executive or director may defer a portion of their compensation in accordance with the terms of the plan. The accrued expense related to the directors deferred compensation plan was $ 35,000 which includes interest of $ 3,900 for the period ended December 31, 2022. The accrued expense was $ 26,000 which includes interest of $ 1,200 for the period ended December 31, 2021. The components of expense are included in the line item “other” expense in the statements of income. Total accrued liability was $ 119,000 and $ 86,000 , respectively at December 31, 2022 and December 31, 2021. The accrued expense related to the executive deferred compensation plan was $ 401,000 which includes interest of $ 32,900 for the period ended December 31, 2022. The accrued expense was $ 279,000 which includes interest of $ 9,200 for the period ended December 31, 2021. The components of expense are included in the line item “other” expense in the statements of income. Total accrued liability was $ 1,039,000 and $ 638,000 respectively at December 31, 2022 and December 31, 2021. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2022 | |
Stock-Based Compensation [Abstract] | |
Stock-Based Compensation | NOTE 12-Stock-Based Compensation FASB ASC Topic 718 requires that the fair value of equity awards granted to employees be recognized as compensation expense over the period during which an employee is required to provide service in exchange for such awards. The following table presents information about the Corporation’s stock plans as of December 31, 2022. Number of Number of Number of shares shares outstanding available for future Plan Types of grants reserved (1) awards (1) issuance (1) Stock options Stock appreciation rights 2007 Long Term Incentive Restricted stock Plan (07LTIP) Stock awards 90,518 90,518 0 (2) Stock options Stock appreciation rights Restricted stock 2017 Long Term Incentive Restricted stock units Plan (17LTIP) Stock awards 340,032 141,434 (3) 198,598 2007 Employee Stock Purchase Plan (ESPP) Stock options 111,760 0 111,760 Employee Stock Bonus Plan (ESBP) Stock awards 21,117 0 21,117 (1) Shares/options are subject to adjustment in the event of specified changes in the Corporation's capital structure. (2) Plan expired on May 15, 2017. (3) Amount includes 67,247 of unvested restricted stock and 13,489 unvested restricted stock units. 2007 Long-Term Incentive Plan (07LTIP) and 2017 Long-Term Incentive Plan (17LTIP) Options awarded under these plans to date have been granted with an exercise price equal to the fair value of the stock on the grant date, a minimum vesting period of six months and an expiration period of ten years . Restricted awards and restricted stock units are granted at fair value. 2,534 restricted shares granted in 2022 vest 100 % in three years from the date of grant. 109 restricted shares granted in 2021 vest 100 % three years from the date of grant; 1,289 restricted shares granted in 2021 vest 100 % four years from date of grant; 9,338.4 restricted stock units granted in 2021 vest 100 % with specified date three years from date of grant. All of the remaining restricted shares and restricted stock units granted in 2022 and 2021 vest as follows: one third at the end of the first year from the date of grant; one third at the end of the second year from the date of grant; and one third at the end of the third year from the date of grant. Restricted stock awards and restricted stock units are participating securities but had no impact on basic EPS at December 31, 2022 and 2021. The plans also permit the granting of stock awards. Upon exercise and/or award, the Corporation has historically issued treasury stock, if available, and/or authorized, but unissued, common stock to satisfy the options/awards. The following table presents compensation expense and related tax benefits for stock option, restricted stock and stock awards recognized on the consolidated statements of income. (dollars in thousands) 2022 2021 Compensation expense $ 925 $ 721 Tax benefit ( 194 ) ( 151 ) Net income effect $ 731 $ 570 The tax benefit shown in the preceding table is less than the benefit that would be calculated using the Corporation’s 21 % statutory Federal tax rate for 2022 and 2021. Under FASB ASC Topic 718, tax benefits are only recognized over the vesting period for options that ordinarily will generate a tax deduction when exercised (non-qualified stock options), restricted stock awards and restricted stock units. The Corporation granted the following restricted stock, restricted stock units and stock awards during the years ended December 31, 2022 and 2021. 2022 2021 Restricted stock 47,609 37,199 Restricted stock units 2,134 15,564 Stock award 5,957 7,490 A summary of stock options activity from the option and stock incentive plans is shown below. Weighted Average Weighted Average Aggregate Exercise Price Remaining Intrinsic Value Options Per Share Contractual Term ($000) Outstanding at January 1, 2022 148,654 $ 17.83 4.0 years $ 638 Granted 0 0.00 Exercised ( 26,245 ) 13.66 Cancelled/Forfeited ( 2,141 ) 22.74 Expired 0 0.00 Outstanding at December 31, 2022 120,268 $ 18.65 3.3 years $ 654 Vested and exercisable at December 31, 2022 120,268 $ 18.65 3.3 years $ 654 The following table presents information about stock options exercised for the years ended December 31, 2022 and 2021. (dollars in thousands) 2022 2021 Total intrinsic value of options exercised $ 177 $ 373 Cash received from options exercised $ 392 $ 139 Tax deduction realized from options exercised $ 37 $ 78 The following table presents information about non-vested options, restricted stock and restricted stock units for the year ended December 31, 2022. Stock Options Restricted Stock Restricted Stock Units Weighted Average Weighted Average Weighted Average Exercise Price Grant Date Grant Date Options Per Share Shares Fair Value Shares Fair Value Non-vested at January 1, 2022 0 $ 0.00 46,448 $ 19.62 15,564 $ 9.25 Vested 0 0 ( 20,332 ) 20.24 ( 2,075 ) 23.13 Cancelled/Forfeited 0 0 ( 6,478 ) 21.30 0 0 Granted 0 0 47,609 21.97 0 0 Non-vested at December 31, 2022 0 $ 0 67,247 $ 20.93 13,489 $ 7.12 As of December 31, 2022, total unrecognized compensation cost related to non-vested options, restricted stock and restricted stock units was $ 673,000 , of which $ 457,000 will be recognized in 2023, $ 178,000 will be recognized in 2024 and $ 38,000 will be recognized in 2025 with a weighted average recognition period of 1.0 years. The unrecognized compensation expense does not include an estimate for forfeiture of stock awards. The Corporation recognizes forfeitures in the period in which the forfeiture occurs. Employee Stock Purchase Plan (ESPP) Under the ESPP, eligible employees can purchase common stock of the Corporation at 85 % of the fair market value of the stock at the beginning or end of the six-month offering period, whichever is lower. The ESPP is considered to be a compensatory plan. The following table presents information about the ESPP for the years ended December 31, 2022 and 2021. 2022 2021 ESPP shares purchased 13,543 17,308 Average purchase price per share ( 85 % of market value) $ 18.781 $ 15.836 Compensation expense recognized (in thousands) $ 54 $ 64 Shares issued from treasury stock to satisfy the purchase of ESPP shares 13,543 17,308 Shares issued from authorized but unissued common stock to satisfy the purchase of ESPP shares 0 0 Employee Stock Bonus Plan (ESBP) The ESBP is administered by the Compensation Committee which is comprised of non-employee members of the Corporation’s Board of Directors. Under the ESBP the Corporation may issue shares of its common stock to employees as performance based compensation. There were no shares of common stock issued under the ESBP in 2022 and 2021. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
Income Taxes [Abstract] | |
Income Taxes | NOTE 13-Income Taxes The following table presents the provision for income taxes for the years ended December 31, 2022 and 2021. (dollars in thousands) 2022 2021 Current tax provision Federal $ 4,230 $ 3,345 State 664 606 Total current tax provision 4,894 3,951 Deferred tax expense (benefit) Federal 614 9 State 48 ( 32 ) Total deferred tax expense (benefit) 662 ( 23 ) Total tax provision $ 5,556 $ 3,928 The differences between the effective income tax rate and the Federal statutory income tax rate for the years ended December 31, 2022 and 2021 are shown below. 2022 2021 Statutory tax rate 21.0 % 21.0 % Increase (decrease) resulting from: Tax-exempt interest income ( 0.8 ) ( 0.7 ) Bank owned life insurance income ( 1.0 ) ( 1.4 ) State income taxes, net of federal tax benefit 2.6 2.4 Other, net ( 0.1 ) ( 0.2 ) Effective income tax rate 21.7 % 21.1 % Significant components of the Corporation’s net deferred tax asset, included in other assets as of December 31, 2022 and 2021 are shown below. (dollars in thousands) 2022 2021 Deferred tax assets Allowance for loan losses $ 4,896 $ 5,033 Deferred compensation 1,655 1,460 Leasing 1,049 725 Net unrealized losses on available-for-sale securities 10,679 44 Other 629 580 Total deferred tax assets $ 18,908 $ 7,842 Deferred tax liabilities Deferred loan fees $ 750 $ 369 Depreciation 82 216 Leasing 960 646 Acquisition accounting adjustments 7 10 Other 417 246 Total deferred tax liabilities $ 2,216 $ 1,487 Net deferred tax assets $ 16,692 $ 6,355 Based on the level of historical income projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes that, as of December 31, 2022, it is more likely than not that the Corporation will realize the benefits of its deferred tax assets. |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2022 | |
Commitments [Abstract] | |
Commitments | NOTE 14-Commitments In the normal course of business, the Corporation is a party to various financial transactions that are not funded as of the balance sheet date. Off-balance sheet financial instruments, which enable PeoplesBank clients to meet their financing needs, are comprised mainly of commitments to extend credit and standby letters of credit. Standby letters of credit are written conditional commitments issued by PeoplesBank to guarantee the performance of a client to a third party. The credit and market risk involved in issuing letters of credit is essentially the same as that involved in extending other loan commitments. To manage these risks, the Corporation uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments and requires collateral to support these letters of credit as deemed necessary. Management believes that the proceeds obtained through a liquidation of such collateral would be sufficient to cover the maximum potential amount of future payments required under the corresponding guarantees. The amount of the liability as of December 31, 2022 and 2021, for guarantees under standby letters of credit issued was considered not material by management. Normally, commitments to extend letters of credit have fixed expiration dates or termination clauses, have specific rates and are for specific purposes. Many of the commitments are expected to expire without being extended; therefore, total commitment amounts do not necessarily represent future cash requirements. Commitments to grant loans are generally made for periods of 90 days or less. As of December 31, 2022, the fixed rate loan commitments have interest rates ranging from 4.50 % to 8.75 % and maturities ranging from 5 months to 30 years. As of December 31, 2021, the fixed rate loan commitments have interest rates ranging from 1.86 % to 5.99 % and maturities ranging from 1 year to 30 years. A summary of outstanding commitments at December 31, 2022 and 2021 is shown below. (dollars in thousands) 2022 2021 Commitments to grant loans Fixed rate $ 30,571 $ 37,352 Variable rate 17,494 44,383 Unfunded commitments of existing loans Fixed rate $ 60,360 $ 42,435 Variable rate 564,003 466,567 Standby letters of credit $ 23,601 $ 14,688 |
Contingent Liabilities
Contingent Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Contingent Liabilities [Abstract] | |
Contingent Liabilities | NOTE 15-Contingent Liabilities The Corporation is involved in pending and threatened claims and other legal proceedings from time to time in the ordinary course of its business activities. Management evaluates the possible impact of these matters taking into consideration the most recent information available. A loss reserve is established for any matter for which it is believed that a loss is both probable and reasonably estimable. Once established, the reserve is adjusted as appropriate to reflect any subsequent developments. Actual losses with respect to any such matter may be more or less than the amount estimated. For any matter for which a loss is not probable, or the amount of the loss cannot reasonably be estimated, no loss reserve is established. In addition, the Corporation may be involved in legal proceedings in the form of investigations of regulatory or governmental inquiries covering a range of possible issues. These could be specific to the Corporation, or part of more wide-spread inquires by regulatory authorities. These inquiries or investigations could lead to administrative, civil or criminal proceedings involving the Corporation and could result in fines, penalties, restitution, or other types of sanctions, or the need for the Corporation to undertake remedial actions, or to alter its business, financial or accounting practices. Management believes that any liabilities, individually or in the aggregate, that may result from the final outcomes of pending or threatened legal proceedings will not have a material adverse effect on the financial condition of the Corporation or upon its results of operations. |
Fair Value Of Assets And Liabil
Fair Value Of Assets And Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Fair Value Of Assets And Liabilities [Abstract] | |
Fair Value Of Assets And Liabilities | Note 16-Fair Value Measurements and Fair Values of Financial Instruments The Corporation uses its best judgment in estimating the fair value of the Corporation’s assets and liabilities; however, there are inherent weaknesses in any estimation technique. Therefore, the fair value estimates herein are not necessarily indicative of the amounts that could be realized in sales transactions on the dates indicated. The estimated fair value amounts have been measured as of their respective period-ends and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values subsequent to the respective reporting dates may be different than the amounts reported at each period-end. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for an asset or liability in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date. GAAP establishes a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following three levels: Level 1: Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. Level 2: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that utilize model-based techniques for which all significant assumptions are observable in the market. Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement; inputs to the valuation methodology that utilize model-based techniques for which significant assumptions are not observable in the market; or inputs to the valuation methodology that require significant management judgment or estimation, some of which may be internally developed. Since management maximizes the use of observable inputs and minimizes the use of unobservable inputs when determining fair value, an asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Management reviews and updates the fair value hierarchy classifications on a quarterly basis. Assets Measured at Fair Value on a Recurring Basis Securities Available for Sale The fair values of investment securities were measured using information from a third-party pricing service. The pricing service uses quoted market prices on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2), which is a mathematical technique, used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. Interest rate swap agreements Interest rate swap agreements are measured by alternative pricing sources with reasonable levels of price transparency in markets that are not active. Based on the complex nature of interest rate swap agreements, the markets these instruments trade in are not as efficient and are less liquid than that of the more mature Level 1 markets. These markets do however have comparable, observable inputs in which an alternative pricing source values these assets in order to arrive at a fair market value. These characteristics classify interest rate swap agreements as Level 2. Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Significant Other Active Markets for Observable Unobservable (dollars in thousands) Total Identical Assets Inputs Inputs December 31, 2022 Securities available-for-sale: U.S. Treasury notes $ 19,100 $ 19,100 $ 0 $ 0 U.S. agency 11,280 0 11,280 0 U.S. agency mortgage-backed, residential 250,102 0 250,102 0 State and municipal 29,399 0 29,399 0 Corporates 35,576 0 35,576 0 Other assets: Loan-level interest rate swaps 8 0 8 0 December 31, 2021 Securities available-for-sale: U.S. agency $ 3,396 $ 0 $ 3,396 $ 0 U.S. agency mortgage-backed, residential 181,935 0 181,935 0 State and municipal 36,156 0 36,156 0 Corporates 32,798 0 32,798 0 Other assets: Loan-level interest rate swaps ( 51 ) 0 ( 51 ) 0 Assets Measured at Fair Value on a Nonrecurring Basis Impaired Loans Impaired loans are those that are accounted for under FASB ASC Topic 310, in which the Corporation has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. These loans are included as Level 3 fair values, based on the lowest level of input that is significant to the fair value measurements. At December 31, 2022, the fair value consists of impaired loan balances of $ 2,742,000 net of valuation allowances of $ 2,484,000 and charge-offs of $ 1,916,000 , compared to impaired loan balances of $ 3,142,000 , net of valuation allowances of $ 4,058,000 and charge-offs of $ 957,000 , at December 31, 2021. Foreclosed Real Estate Other real estate property acquired through foreclosure is initially recorded at fair value of the property at the transfer date less estimated selling cost. Subsequently, other real estate owned is carried at the lower of its carrying value or the fair value less estimated selling cost. Fair value is usually determined based upon an independent third-party appraisal of the property or occasionally upon a recent sales offer. At December 31, 2022 the fair value of foreclosed real estate assets was $ 479,000 , net of a write-down of $ 488,000 compared to no foreclosed real estate assets with a write-down or valuation allowance at December 31, 2021. Mortgage Servicing Rights Mortgage servicing rights are initially recorded at fair value upon the sale of residential mortgage loans to secondary market investors. The fair value of servicing rights is based on the present value of estimated future cash flows on pools of mortgages stratified by rate and original time to maturity. Mortgage servicing rights are subsequently evaluated for impairment on a quarterly basis. Significant inputs to the valuation include expected cash flow, expected net servicing income, a cash flow discount rate and the expected life of the underlying loans. Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Significant Other Active Markets for Other Unobservable (dollars in thousands) Total Identical Assets Observable Inputs Inputs December 31, 2022 Impaired builder & developer loans $ 1,194 $ 0 $ 0 $ 1,194 Impaired residential real estate investor loans 57 0 0 57 Impaired agriculture loans 228 0 0 228 Impaired manufacturer loans 150 0 0 150 Impaired other loans 1,114 0 0 1,114 Impaired other real estate owned 479 0 0 479 December 31, 2021 Impaired builder & developer loans $ 224 $ 0 $ 0 $ 224 Impaired residential real estate investor loans 89 0 0 89 Impaired commercial real estate loans 414 0 0 414 Impaired agriculture loans 1,121 0 0 1,121 Impaired service loans 594 0 0 594 Impaired other loans 700 0 0 700 Mortgage servicing rights 380 0 0 380 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Corporation has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Weighted (dollars in thousands) Estimate Techniques Input Range Average December 31, 2022 Impaired builder & developer loans $ 1,194 Appraisal (1) Appraisal adjustments (2) 2 % - 22 % 5 % Impaired residential real estate investor loans 57 Appraisal (1) Appraisal adjustments (2) 6 % - 10 % 8 % Impaired agriculture loans 228 Appraisal (1) Appraisal adjustments (2) 5 % - 13 % 9 % Impaired manufacturer loans 150 Appraisal (1) Appraisal adjustments (2) 67 % - 67 % 67 % Impaired other loans 1,114 Appraisal (1) Appraisal adjustments (2) 0 % - 25 % 5 % Impaired other real estate owned 479 Appraisal (1) Appraisal adjustments (2) 0 % - 25 % 22 % December 31, 2021 Impaired builder & developer loans $ 224 Appraisal (1) Appraisal adjustments (2) 15 % - 15 % 15 % Impaired residential real estate investor loans 89 Appraisal (1) Appraisal adjustments (2) 15 % - 15 % 15 % Impaired commercial real estate loans 414 Appraisal (1) Appraisal adjustments (2) 15 % - 15 % 15 % Impaired agriculture loans 1,121 Appraisal (1) Appraisal adjustments (2) 15 % - 20 % 18 % Impaired service loans 594 Appraisal (1) Appraisal adjustments (2) 15 % - 15 % 15 % Impaired other loans 700 Appraisal (1) Appraisal adjustments (2) 15 % - 15 % 15 % Mortgage servicing rights 380 Multiple of annual service fee Estimated prepayment speed based on rate and term 14.9 % - 14.9 % 14.9 % (1) Fair value is generally determined through independent appraisals which generally include various level 3 inputs that are not identifiable. (2) Appraisal amounts may be adjusted downward by the Corporation's management for qualitative factors such as economic conditions, and estimated liquidation expenses. The range of liquidation expenses and other adjustments are presented as a percent of the appraisal or financial statement book value. The following presents the carrying amount and estimated fair value of the Corporation’s financial instruments as of December 31, 2022 and 2021. Fair Value Estimates (Level 1) (Level 2) (Level 3) Quoted Prices Significant Significant in Active Other Other Carrying Estimated Markets for Observable Unobservable (dollars in thousands) Amount Fair Value Identical Assets Inputs Inputs December 31, 2022 Financial assets Cash and cash equivalents $ 120,439 $ 120,439 $ 120,439 $ 0 $ 0 Securities available-for-sale 345,457 345,457 19,100 326,357 0 Restricted investment in bank stocks 955 N/A N/A N/A N/A Loans held for sale 154 157 0 157 0 Loans, net 1,612,121 1,503,440 0 0 1,503,440 Interest receivable 6,624 6,624 0 948 5,676 Financial liabilities Deposits $ 1,943,219 $ 1,932,689 $ 0 $ 1,932,689 $ 0 Short-term borrowings 11,605 11,605 0 11,605 0 Long-term debt (1) 10,310 10,165 0 0 10,165 Subordinated debentures 30,764 29,145 0 29,145 0 Interest payable 492 492 0 492 0 Off-balance sheet instruments 0 0 0 0 0 December 31, 2021 Financial assets Cash and cash equivalents $ 545,494 $ 545,494 $ 545,494 $ 0 $ 0 Securities available-for-sale 254,285 254,285 0 254,285 0 Restricted investment in bank stocks 1,311 N/A N/A N/A N/A Loans held for sale 7,876 8,271 0 8,271 0 Loans, net 1,506,969 1,498,388 0 0 1,498,388 Interest receivable 4,562 4,562 0 752 3,810 Financial liabilities Deposits $ 2,143,765 $ 2,143,187 $ 0 $ 2,143,187 $ 0 Short-term borrowings 10,761 10,761 0 10,761 0 Long-term debt 20,310 18,999 0 10,109 8,890 Subordinated debentures 30,683 32,578 0 32,578 0 Interest payable 216 216 0 216 0 Off-balance sheet instruments 0 0 0 0 0 (1) Excludes leases included in long-term debt. |
Assets And Liabilities Subject
Assets And Liabilities Subject To Offsetting | 12 Months Ended |
Dec. 31, 2022 | |
Assets And Liabilities Subject To Offsetting [Abstract] | |
Assets And Liabilities Subject To Offsetting | Note 17—Assets and Liabilities Subject to Offsetting Securities Sold Under Agreements to Repurchase PeoplesBank enters into agreements with clients in which it sells securities subject to an obligation to repurchase the same securities (“repurchase agreements”). The contractual maturity of the repurchase agreement is overnight and continues until either party terminates the agreement. These repurchase agreements are accounted for as a collateralized financing arrangement (i.e., secured borrowings) and not as a sale and subsequent repurchase of securities. The obligation to repurchase the securities is reflected as a liability (short-term borrowings) in the Corporation’s consolidated financial statements of condition, while the securities underlying the repurchase agreements are appropriately segregated for safekeeping purposes and remain in the respective securities asset accounts. Gross amounts Not Offset in Gross Net Amounts the Statements of Condition Gross Amounts of Liabilities Financial Instruments Amounts of Offset in the Presented in U.S Agency Cash Recognized Statements of the Statements mortgage-backed, Collateral Net (dollars in thousands) Liabilities Condition of Condition residential U.S. agency Pledged Amount December 31, 2022 Repurchase Agreements $ 11,605 $ 0 $ 11,605 $ ( 13,767 ) $ 0 $ 0 $ ( 2,162 ) December 31, 2021 Repurchase Agreements $ 10,761 $ 0 $ 10,761 $ ( 12,268 ) $ 0 $ 0 $ ( 1,507 ) |
Interest Rate Swaps
Interest Rate Swaps | 12 Months Ended |
Dec. 31, 2022 | |
Interest Rate Swaps [Abstract] | |
Interest Rate Swaps | Note 18 – Interest Rate Swaps Loan Level Interest Rate Swaps PeoplesBank enters into loan-level interest rate swaps with certain qualifying, creditworthy commercial loan clients to provide a loan pricing structure that meets the interest rate risk management needs of both PeoplesBank as well as the client. PeoplesBank simultaneously enters into parallel interest rate swaps with dealer counterparties, with identical notional amounts and terms. The net results of the offsetting client and deal counterparty swap agreements is that the client pays a fixed rate of interest and PeoplesBank receives a floating rate. PeoplesBank’s loan-level interest rate swaps are considered derivatives but are not accounted for using hedge accounting. The fair value, notional amount, and collateral posted related to loan-level interest rate swaps are presented below: December 31, (dollars in thousands) 2022 2021 Interest Rate Swap Contracts - Commercial Loans: Fair Value (a) $ 8 $ ( 51 ) Notional Amount 5,992 7,266 Cash Collateral Posted (b) 0 0 (a) Included in other assets and other non-interest income as of December 31, 2022 and December 31, 2021 on the Consolidated Balance Sheets and Consolidated Statements of Income, respectively. (b) No cash collateral was posted as of December 31, 2022 or December 31, 2021. The gross amounts of loan-level interest rate swaps, the amounts offset and the carrying values in the Consolidated Balance Sheets, and the collateral pledged to support such agreements are presented below. December 31, (dollars in thousands) 2022 2021 Interest Rate Swap Contracts - Commercial Loans: Gross amounts recognized $ 8 $ ( 51 ) Gross amounts offset 8 ( 51 ) Net amounts presented in the Consolidated Balance Sheets $ 0 $ 0 Gross amounts not offset: Financial instruments $ 0 $ 0 Cash Collateral 0 0 Net amounts $ 0 $ 0 |
Condensed Financial Information
Condensed Financial Information-Parent Company Only | 12 Months Ended |
Dec. 31, 2022 | |
Condensed Financial Information-Parent Company Only [Abstract] | |
Condensed Financial Information-Parent Company Only | Note 19-Condensed Financial Information-Parent Company Only Condensed Balance Sheets December 31, (dollars in thousands) 2022 2021 Assets Cash and due from banks $ 743 $ 222 Investment in bank subsidiary 213,657 232,525 Investment in other subsidiaries 314 314 Premises and equipment, net 2,481 2,667 Other assets 1,337 879 Total assets $ 218,532 $ 236,607 Liabilities Long-term debt $ 10,310 $ 10,310 Subordinated debentures 30,764 30,683 Other liabilities 158 109 Total liabilities 41,232 41,102 Shareholders' equity 177,300 195,505 Total liabilities and shareholders' equity $ 218,532 $ 236,607 Condensed Statements of Income and Comprehensive Income Years ended December 31, (dollars in thousands) 2022 2021 Income Interest from investment securities $ 11 $ 6 Dividends from bank subsidiary 5,255 4,800 Total income 5,266 4,806 Expense Interest expense on long-term debt 370 193 Interest expense on subordinated debentures 1,476 1,476 Occupancy of premises, net 303 174 Other 2,850 936 Total expense 4,999 2,779 Income before applicable income tax benefit and undistributed earnings of subsidiaries 267 2,027 Applicable income tax benefit 1,093 657 Income before undistributed earnings of subsidiaries 1,360 2,684 Equity in undistributed earnings of bank subsidiary 18,732 11,975 Net income $ 20,092 $ 14,659 Comprehensive (loss) income $ ( 14,508 ) $ 10,928 Condensed Statements of Cash Flows Years ended December 31, (dollars in thousands) 2022 2021 Cash flows from operating activities Net income $ 20,092 $ 14,659 Adjustments to reconcile net income to net cash provided by operations: Depreciation 186 190 Amortization of subordinated debentures issuance fees 81 81 Equity in undistributed earnings of subsidiaries, net ( 18,732 ) ( 11,975 ) Other, net 570 323 Net cash provided by operating activities 2,197 3,278 Cash flows from investing activities Additional investment from (in) bank subsidiary 3,000 ( 20,000 ) Purchases of premises and equipment 0 ( 16 ) Net cash provided by (used in) investing activities 3,000 ( 20,016 ) Cash flows from financing activities Cash dividends paid to shareholders ( 5,715 ) ( 5,270 ) Treasury stock repurchased ( 34 ) ( 9,878 ) Net issuance of stock 1,073 980 Net cash used in financing activities ( 4,676 ) ( 14,168 ) Net increase (decrease) in cash and cash equivalents 521 ( 30,906 ) Cash and cash equivalents at beginning of year 222 31,128 Cash and cash equivalents at end of year $ 743 $ 222 |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2022 | |
Summary Of Significant Accounting Policies [Abstract] | |
Nature of Operations and Basis of Presentation | Nature of Operations and Basis of Presentation Codorus Valley Bancorp, Inc. (“Corporation” or “Codorus Valley”) is a one-bank holding company headquartered in York, Pennsylvania that provides a full range of banking services through its subsidiary, PeoplesBank, A Codorus Valley Company (“PeoplesBank” or “Bank”). PeoplesBank operates one wholly-owned subsidiary as of December 31, 2022, Codorus Valley Financial Advisors, Inc. d/b/a Peoples Wealth Advisors, which sells non-deposit investment products. In addition, PeoplesBank may periodically create nonbank subsidiaries for the purpose of temporarily holding foreclosed properties pending the liquidation of these properties. PeoplesBank operates under a state charter and is subject to regulation by the Pennsylvania Department of Banking and Securities, and the Federal Deposit Insurance Corporation. The Corporation is subject to regulation by the Board of Governors of the Federal Reserve System and the Pennsylvania Department of Banking and Securities. The consolidated financial statements include the accounts of Codorus Valley and its wholly-owned bank subsidiary, PeoplesBank, and a wholly-owned nonbank subsidiary, SYC Realty Company, Inc. SYC Realty was inactive during the reportable period of 2022. The accounts of CVB Statutory Trust No. 1 and No. 2 are not included in the consolidated financial statements as discussed in Note 8 – Short-term Borrowings and Long-term Debt. All significant intercompany account balances and transactions have been eliminated in consolidation. The accounting and reporting policies of Codorus Valley and subsidiaries conform to accounting principles generally accepted in the United States of America and have been followed on a consistent basis. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses , particularly as it relates to changing economic conditions. In March 2023, certain specialized banking institutions with elevated concentrations of uninsured deposits experienced large deposit outflows, resulting in the institutions being placed into FDIC receiverships. In the aftermath, there has been substantial market disruption and indications that deposit concerns could spread within the banking industry, leading to deposit outflows and other destabilizing results. The Corporation maintains a well-diversified deposit base and has a comparatively low level of uninsured deposits. As of December 31, 2022, 82 % of our deposits are estimated to be FDIC-insured, and an additional 6 % of deposit were fully collateralized. The average account size of our consumer deposits is less than $ 18,000 , and the average account size of our business deposits is less than $ 89,000 . |
Investment Securities | Investment Securities The classification of securities is determined at the time of acquisition and is reevaluated at each reporting date. Securities classified as available-for-sale are debt securities that the Corporation intends to hold for an indefinite period of time, but not necessarily to maturity. Any decision to sell a security classified as available-for-sale would be based on various factors, including significant movements in interest rates, changes in maturity mix of assets and liabilities, income or liquidity needs, regulatory considerations and other factors. Debt securities available-for-sale are carried at fair value, with unrealized gains and losses, net of taxes, reported as a component of accumulated other comprehensive income in shareholders' equity. Premiums and discounts are recognized in interest income using the interest method over the estimated life of the security. Realized gains and losses from the sale of available-for-sale securities are computed on the basis of specific identification of the adjusted cost of each security and are shown net as a separate line item in the statement of income. The Corporation evaluates securities within the Corporation’s available for sale portfolio for other-than-temporary impairment (“OTTI”) at least quarterly. If the fair value of a debt security is below the amortized cost basis of the security, OTTI is required to be recognized if any of the following are met: (1) the Corporation intends to sell the security; (2) it is “more likely than not” that the Corporation will be required to sell the security before recovery of its amortized cost basis; or (3) the present value of the expected cash flows is not sufficient to recover the entire amortized costs basis. For all impaired debt securities that the Corporation intends to sell, or more likely than not will be required to sell, the full amount of the depreciation is recognized as OTTI through earnings. Credit-related OTTI for all other impaired debt securities is recognized through earnings. Non-credit related OTTI for such debt securities is recognized in other comprehensive income, net of applicable taxes. More information about investment securities is provided in Note 3 – Securities. |
Restricted Investment in Bank Stocks | Restricted Investment in Bank Stocks Restricted stock, which represents required investments in the common stock of correspondent banks, is carried at cost and, as of December 31, 2022 and 2021 consisted primarily of the common stock of the Federal Home Loan Bank of Pittsburgh (FHLBP) and, to a lesser degree, Atlantic Community Bancshares, Inc. (ACBI), the parent company of Atlantic Community Bankers Bank (ACBB). Under the FHLBP’s Capital Plan and ACBI membership, PeoplesBank is required to maintain a minimum member stock investment, both as a condition of becoming and remaining a member and as a condition of obtaining borrowings from the FHLBP. The FHLBP uses a formula to determine the minimum stock investment, which is based on the volume of loans outstanding, unused borrowing capacity and other factors. The FHLBP paid dividends during the years ended December 31, 2022 and 2021. The FHLBP restricts the repurchase of the excess capital stock of member banks. The amount of excess capital stock that can be repurchased from any member is currently the lesser of five percent of the member’s total capital stock outstanding or its excess capital stock outstanding. Management evaluates the restricted stock for impairment in accordance with FASB ASC Topic 942. Management’s determination of whether these investments are impaired is based on their assessment of the ultimate recoverability of their cost rather than by recognizing temporary declines in value. Using the FHLBP as an example, the determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as: (1) the significance of the decline in net assets of the FHLBP as compared to the capital stock amount for the FHLBP and the length of time this situation has persisted; (2) commitments by the FHLBP to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLBP; and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the FHLBP. Management believes no impairment charge was necessary related to the restricted stock during the periods ended December 31, 2022 and 2021 . |
Loans Held for Sale | Loans Held for Sale Loans held for sale are comprised of residential mortgage loans and the guaranteed portion of secondary-market qualified Small Business Administration loans. Loans held for sale are reported at th e lower of cost or fair value, as determined by the aggregate commitments from investors or current investor yield requirements. The amount by which cost exceeds fair value, if any, is accounted for as a valuation allowance and is charged to expense in the period of the change. The Company generally sells the guaranteed portion of its SBA loans to a third party and retains the servicing, holding the nonguaranteed portion in its portfolio. Gains or losses recognized on the sale of mortgage loans and loans guaranteed by the Small Business Administration loans are recognized based on the difference between the selling price and the carrying value of the related loan and are recorded in noninterest income. |
Loans | Loans Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff, are stated at their outstanding unpaid principal balances less amounts charged off, net of an allowance for loan losses and any deferred fees or costs. Interest income is accrued on the unpaid principal balance. Generally, loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) over the contractual life of the loan. The loans receivable portfolio is segmented into commercial and consumer loans. Commercial loans consist of the following industry classes: builder & developer, commercial real estate investor, residential real estate investor, hotel/motel, wholesale & retail, agriculture, manufacturing, service and all other. Consumer loans consist of the following classes: residential mortgage, home equity and all other. Generally, for all classes of loans receivable, when it is probable that principal and interest will not be collectible or a loss is incurred, the accrual of interest is discontinued. A loan may remain on accrual status if it is in the process of collection and is either guaranteed or well-secured. When a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for loan losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income, according to the Corporation’s judgment as to the collectability of principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time, generally six months, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. |
Allowance for Loan Losses | Allowance for Loan Losses The allowance for loan losses represents the Corporation’s estimate of losses incurred in the loan portfolio as of the balance sheet date and is recorded as a reduction to loans. The allowance for loan losses is increased by the provision for loan losses, and decreased by charge-offs, net of recov eries. Loans deemed to be uncollectable are charged against the allowance for loan losses, and subsequent recoveries, if any, are credited to the allowance. All, or part, of the principal balance of loans receivable are charged off to the allowance as soon as it is determined that the repayment of all, or part, of the principal balance is highly unlikely. While the Corporation attributes a portion of the allowance to individual loans and groups of loans that it evaluates and determines to be impaired, the allowance is available to cover all charge-offs that arise from the loan portfolio. The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. The Corporation performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Corporation’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The allowance consists of specific and general components. The specific component relates to loans that are classified as impaired, generally nonaccrual loans and troubled debt restructurings. For loans that are classified as impaired, an allowance is established when the collateral value (or discounted cash flows or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers pools of loans by loan class including commercial loans not considered impaired, as well as smaller balance homo geneous loans, such as residential real estate, home equity and other consumer loans. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these classes of loans, adjusted for qualitative (environmental) risk factors. Historical loss rates are based on a two year rolling average of net charge-offs. Qualitative risk factors that supplement historical losses in the evaluation of loan pools are shown below. Each factor is assigned a value to reflect improving, stable or declining conditions based on the Corporation’s best judgment using relevant information available at the time of the evaluation. Chan ges in international, US, and local economies and business conditions Changes in the value of collateral for collateral dependent loans Changes in the level of concentrations of credit Changes in the volume and severity of classified and past due loans Changes in the nature and volume of the portfolio Changes in collection, charge-off, and recovery procedures Changes in underwriting standards and loan terms Changes in the quality of the loan review system Changes in the experience/ability of lending management and key lending staff Regulatory and legal regulations that could affect the level of credit losses Other pertinent environmental factors As disclosed in Note 4-Loans, the Corporation engages in commercial and consumer lending. Loans are made within the Corporation’s primary market area and surrounding areas, and include the purchase of whole loan or participation interests in loans from other financial institutions. Commercial loans, which pose the greatest risk of loss to the Corporation, whether originated or purchased, are generally secured by real estate. Within the broad commercial loan segment, the builder & developer and commercial real estate investor loan classes generally present a higher level of risk than other commercial loan classifications. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effect of general economic conditions on income producing properties, unstable real estate prices and the dependency upon successful construction and sale or operation of the real estate project. Within the consumer loan segment, junior (i.e., second) liens present a slightly higher risk to the Corporation because economic and housing market conditions can adversely affect the underlying value of the collateral and the ability of some borrowers to service their debt. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The Corporation determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Loans that are deemed impaired are evaluated for impairment loss based on the net realizable value of the collateral, as applicable. Loans that are not collateral dependent will rely on the present value of expected future cash flows discounted at the loan’s effective interest rate to determine impairment loss. Large groups of smaller balance homogeneous loans such as residential mortgage loans, home equity loans and other consumer loans are collectively evaluated for impairment, unless they are classified as impaired. An allowance for loan losses is established for an impaired commercial loan if its carrying value exceeds its estimated fair value. For commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals of the underlying collateral. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the most recent appraisal and the condition of the property. Appraisals are generally discounted to provide for selling costs and other factors to determine an estimate of the net realizable value of the property. For commercial loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable aging or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. In instances when specific consumer related loans become impaired, they may be partially or fully charged off, which obviates the need for a specific allowance. Loans whose terms are modified are classified as troubled debt restructurings if the Corporation grants borrowers experiencing financial difficulties concessions that it would not otherwise consider. Concessions granted under a troubled debt restructuring may involve an interest rate that is below the market rate given the associated credit risk of the loan or an extension of a loan’s stated maturity date. Loans classified as troubled debt restructurings are designated as impaired. Non-accrual troubled debt restructurings are restored to accrual status if principal and interest payments, under the modified terms, are current for a reasonable period of time, generally six consecutive months after modification and future payments are reasonably assured. |
Transfers of Financial Assets | Transfers of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Corporation, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Corporation does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. |
Bank Premises and Equipment | Bank Premises and Equipment Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation. Depreciation expense is calculated principally on the straight-line method over the assets’ estimated useful lives. Estimated useful lives are five years to forty years for buildings and improvements, five years to twenty years for furniture and equipment and two years to seven years for computer equipment and software. Maintenance and repairs are charged to expense as incurred. The cost of significant improvements to existing assets is capitalized and amortized over the shorter of the asset’s useful life or related lease term. When facilities are retired or otherwise disposed of, the depreciated cost is removed from the asset accounts, and any gain or loss is reflected in the statement of income. Bank premises and equipment designated as held for sale are carried at the lower of cost or fair value. The balance of $ 567,000 at December 31, 2022 and December 31, 2021 consisted of one retail banking property which closed in the second quarter 2022. Bank premises and equipment designated as held for sale is included in other assets on the Consolidated Balance Sheets. |
Foreclosed Real Estate | Foreclosed Real Estate Foreclosed real estate, included in other assets, is comprised of property acquired through a foreclosure proceeding or property that is acquired through in substance foreclosure. Foreclosed real estate is initially recorded at fair value minus estimated costs to sell at the date of foreclosure, establishing a new cost basis. Any difference between the carrying value and the new cost basis is charged against the allowance for loan losses. Appraisals, obtained from an independent third party, are generally used to determine fair value. After foreclosure, management reviews valuations at least quarterly and adjusts the asset to the lower of cost or fair value minus estimated costs to sell through a valuation allowance or a charge-off. Costs related to the improvement of foreclosed real estate are generally capitalized until the real estate reaches a saleable condition subject to fair value limitations. Revenue and expense from operations and changes in the valuation allowance are included in noninterest expense. When a foreclosed real estate asset is ultimately sold, any gain or loss on the sale is included in the income statement as a component of noninterest expense. At December 31, 2022 there was $ 479,000 of foreclosed commercial real estate, compared to no foreclosed real estate at December 31, 2021. Included within loans receivable as of December 31, 2022, was a recorded investment of $ 124,000 of consumer mortgage loans secured by residential real estate properties, for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction compared to $ 102,000 as of December 31, 2021. |
Bank Owned Life Insurance | Bank Owned Life Insurance PeoplesBank invests in bank owned life insurance (BOLI) as a source of funding for employee benefit expenses. BOLI involves the purchasing of life insurance by PeoplesBank on a select group of employees and members of the board of directors. PeoplesBank is the owner and beneficiary of the policies. This life insurance investment is carried at the cash surrender value of the underlying policies and is included in other assets in the amount of $ 55,897,000 at December 31, 2022, compared to $ 54,644,000 at December 31, 2021. |
Mortgage Servicing Rights | Mortgage Servicing Rights PeoplesBank retained servicing of sold mortgage loans beginning in 2016. In 2020 PeoplesBank began selling mortgages with servicing released for the majority of the new portfolio. The mortgage servicing rights (MSRs) associated with previously sold loans are included in other assets on the consolidated balance sheets at an amount equal to the estimated fair value of the contractual rights to service the mortgage loans. The MSR asset is amortized as a reduction to servicing income which was $ 153,000 and $ 287,000 in 2022 and 2021, respectively. Mortgage servicing income is included in other income in the statements of income. The MSR asset is evaluated periodically for impairment and carried at the lower of amortized cost or fair value. A third party calculates fair value by discounting the estimated cash flows from servicing income using a rate consistent with the risk associated with these assets and an expected life commensurate with the expected life of the underlying loans. In the event that the amortized cost of the MSR asset exceeds the fair value of the asset, a valuation allowance would be established through a charge against servicing income. Subsequent fair value evaluations may determine that impairment has been reduced or eliminated, in which case the valuation allowance would be reduced through a credit to earnings. At December 31, 2022, the balance of residential mortgage loans serviced for third parties was $ 55,708,000 compared to $ 66,885,000 at December 31, 2021. The following table summarizes the changes in MSRs, which are included in other assets on the consolidated balance sheets. Years ended December 31, (dollars in thousands) 2022 2021 Amortized cost: Balance at beginning of year $ 380 $ 511 Originations of mortgage servicing rights 6 39 Amortization expense ( 107 ) ( 266 ) Valuation allowance 0 96 Balance at end of year $ 279 $ 380 |
Trust and Investment Services Assets | Trust and Investment Services Assets Assets held by PeoplesBank in a fiduciary or agency capacity for its clients are not included in the consolidated balance sheets since these items are not assets of PeoplesBank. At December 31, 2022, the market value of assets was $ 820,283,000 compared to $ 857,798,000 at December 31, 2021. |
Advertising | Advertising Advertising costs are charged to expense when incurred. |
Income Taxes | Income Taxes Deferred income taxes are provided on the liability method whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted through the provision for income taxes for the effects of changes in tax laws and rates on the effective date. The Corporation accounts for uncertain tax positions as required by FASB ASC Topic 740. FASB ASC Topic 740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. Specifically, the accounting standard prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return as well as guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. No significant income tax uncertainties have been identified by the Corporation; therefore, the Corporation recognized no adjustment for unrecognized income tax benefits for the years ended December 31, 2022 and 2021. The Corporation’s policy is to recognize interest and penalties on unrecognized tax benefits in income taxes expense in the Consolidated Statement of Income. The tax years subject to examination by the taxing authorities are the years ended December 31, 2021, 2020, and 2019. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 16 – Fair Value Measurements and Fair Values of Financial Instruments. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect the estimates. |
Goodwill and Core Deposit Intangible Assets | Goodwill and Core Deposit Intangible Assets Goodwill arising from acquisitions is not amortized, but is subject to an annual impairment test. This test consists of a qualitative analysis. If the Corporation determines events or circumstances indicate that it is more likely than not that goodwill is impaired, a quantitative analysis must be completed. Analyses may also be performed between annual tests. Significant judgment is applied when goodwill is assessed for impairment. This judgment includes developing cash flow projections, selecting appropriate discount rates, identifying relevant market comparables, incorporating general economic and market conditions, and selecting an appropriate control premium. The Corporation completes its annual goodwill impairment test on October 1 st of each year. Based upon a qualitative analysis of goodwill, the Corporation concluded that the amount of recorded goodwill was not impaired as of October 1, 2022. Core deposit intangibles represent the value assigned to demand, interest checking, money market, and savings accounts acquired as part of an acquisition. The core deposit intangible value represents the future economic benefit of potential cost savings from acquiring core deposits as part of an acquisition compared to the cost of alternative funding sources and the alternative cost to grow a similar core deposit base. The core deposit intangible asset resulting from the merger with Madison Bancorp, Inc. was determined to have a definite life and is being amortized using the sum of the years’ digits method over ten years . All intangible assets must be evaluated for impairment if certain events or changes in circumstances occur. Any impairment write-downs would be recognized as expense on the consolidated statements of income. At December 31, 2022, the Corporation does not have any indicators of potential impairment of either goodwill or core deposit intangibles. |
Revenue from Contracts with Customers | Revenue from Contracts with Customers The majority of the Corporation’s revenue-generating transactions are not within the scope of ASC 606, including revenue generated from financial instruments, such as our loans, letters of credit, derivatives and investment securities, as well as revenue related to our mortgage servicing activities, as these activities are subject to other U.S. Generally Accepted Accounting Principles (GAAP) discussed elsewhere within our disclosures. Descriptions of our revenue-generating activities that are within the scope of ASC 606, which are presented in our consolidated statements of income as components of non-interest income are as follows: Trust and investment service fees – The Corporation provides trust, investment management custody and irrevocable life insurance trust services to customers. Such services are rendered in accordance with the underlying contracts for which fees are earned. The Corporation’s performance obligations are generally satisfied, and the related revenue recognized, over the period in which the service is provided. Payment for services rendered is primarily received in the following month. Income from mutual fund, annuity and insurance sales – The Corporation sells mutual funds, annuity and insurance products to its customers. The Corporation’s performance obligation is met upon the signing of the product agreement and, in certain cases, a time component may exist when the customer has the right to rescind the agreement with or without penalty. The Corporation recognizes revenues upon delivery of the product or service unless there is a time component in which case revenues are recognized utilizing the expected value method. Payment for services rendered is primarily received in the following month. Service charges on deposits accounts – These represent general service fees for monthly account maintenance and activity- or transaction based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Other service charges include revenue from processing wire transfers, cashier’s checks and other services. Revenue is recognized when the performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to the customers’ accounts. Other noninterest income – The Corporation evaluated individual components of other noninterest income, such as credit card merchant fees, credit and gift card fees and ATM fees. Debit card income is primarily comprised of interchange fees earned whenever the Corporation’s debit cards are processed through payment networks, such as Visa. Credit and gift card income is realized through a third party provider who issues credits as private label in the Corporation’s name. ATM fees are primarily generated when a non-Corporation cardholder uses a Corporation ATM. The income is primarily comprised as a percentage of interchange fees earned whenever the issuer’s card is processed through card payment networks, such as Visa or Pulse. Merchant services income is realized through a third party service provider who is contracted by the Corporation under a referral arrangement. Such fees represent fees charged to merchants to process their debit card transactions. The Corporation’s performance obligation for these fees are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received within a 1 to 3 day lag or in the following month. |
Per Share Data | Per Share Data Basic net income per share is calculated as net income available to shareholders divided by the weighted average number of shares outstanding. Diluted net income per share is calculated as net income available to shareholders divided by the weighted average number of shares outstanding plus shares that would have been outstanding if dilutive potential shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential shares that may be issued by the Corporation relate solely to outstanding stock options and are determined using the treasury stock method. The computation of net income per share for the years ended December 31, 2022 and 2021 is provided in the table below. (in thousands, except per share data) 2022 2021 Net income available to shareholders $ 20,092 $ 14,659 Weighted average shares outstanding (basic) 9,532 9,715 Effect of dilutive stock options 28 38 Weighted average shares outstanding (diluted) 9,560 9,753 Basic earnings per share $ 2.11 $ 1.51 Diluted earnings per share $ 2.10 $ 1.50 Anti-dilutive stock options excluded from the computation of earnings per share 30 32 |
Stock-Based Compensation | Stock-Based Compensation The Corporation accounts for its stock-based compensation awards in accordance with FASB ASC Topic 718, which requires public companies to recognize compensation expense, related to stock-based compensation awards in their statements of operations. Compensation expense is equal to the fair value of the stock-based compensation awards on the grant date and is recognized over the vesting period of such awards. More information is provided in Note 12 – Stock-Based Compensation. |
Cash Flow Information | Cash Flow Information For purposes of the statements of cash flows, the Corporation considers interest bearing deposits with banks, cash and due from banks, and federal funds sold to be cash and cash equivalents. Supplemental cash flow information is provided in the table below. Years ended December 31, (dollars in thousands) 2022 2021 Cash paid during the period for: Income taxes $ 410 $ 6,146 Interest $ 9,124 $ 9,907 Noncash investing activities: Transfer of loans to foreclosed real estate $ 479 $ 0 Transfer of loans to held for sale $ 16,617 $ 0 Transfer of premises and equipment to assets held for sale $ 109 $ 2,715 Initial recognition of operating lease right-of-use assets $ 2,061 $ 18 Initial recognition of operating lease liabilities $ 2,061 $ 18 |
Off-Balance Sheet Financial Instruments | Off-Balance Sheet Financial Instruments In the ordinary course of business, the Corporation enters into off-balance sheet financial instruments consisting of commitments to extend credit and standby letters of credit. These financial instruments are recorded on the balance sheet when they become a receivable to the Corporation. |
Comprehensive Income and Accumulated Other Comprehensive Income | Comprehensive Income and Accumulated Other Comprehensive Income Accounting principles generally accepted in the United States of America require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the shareholders’ equity section of the balance sheet, such items, along with net income, are components of comprehensive income. |
Segment Reporting | Segment Reporting Management has determined that it operates in only one segment, community banking. The Corporation’s non-banking activities are insignificant to the consolidated financial statements. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Pronouncements Adopted in 2022 Staff Accounting Bulletin No. 121 (SAB 21) was issued on March 31, 2022 by the Securities and Exchange Commission to provide interpretive guidance for a reporting entity performing custodial type activities for crypto-assets and maintaining the private, cryptographic key information. The Corporation has reviewed the guidance and concluded that the Corporation has no implicit or constructive obligation to safeguard any such crypto-assets. In addition, no crypto-assets are specifically identified as collateral for any loan. The Corporation has also concluded there is no requirement to record a safeguarding asset or corresponding safeguarding liability. Pronouncements Not Yet Effective In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326). This standard adds a new Topic 326 which requires companies to measure and record impairment on financial instruments at the time of origination using the current expected credit loss (CECL) methodology. The CECL methodology calculates impairment based on historical experience, current conditions, and reasonable and supportable forecasts, and reflects the organization’s current estimate of all expected credit losses over the contractual term of its financial assets, measured at amortized cost, including loans receivable and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures such as unfunded loan commitments, standby letters of credit, and other similar instruments. The new standard was delayed and is now effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company will adopt ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for reporting periods beginning after December 31, 2022, will be presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company is finalizing review of the ASC 326 model validation support, while completing development of related internal controls, policy documentation, and support. The model is reliant on forecasts provided by third party sources. Any change in the quantitative credit loss estimate along with supplemental qualitative credit loss estimates for the pooled loan portfolio will be reflected in the Allowance for Credit Losses (ACL). Qualitative adjustments are judgmental and are based upon management’s knowledge of the portfolio, the markets in which the Company operates and differences between the portfolio and peer bank data utilized in the quantitative calculations. Loans evaluated individually for expected credit losses will continue to have specific allocations of ACL assigned if the measured value is less than its current carrying value based on the allowable techniques. This reserve is determined by estimating future draws and applying expected credit loss rates to those estimated draws. The Company expects a net decrease to retained earnings as of the January 1, 2023 adoption date for the cumulative effect of adopting ASC 326, including the impact of off-balance sheet credit exposures, to be estimated in the range of $ 2,000,000 to $ 4,000,000 . This estimate relates to the immediate impact of the ASC 326 adoption and could fall outside of this range due to unforeseen changes in economic forecasts or other conditions. The ongoing impact of ASC 326 adoption is dependent on multiple factors including loan and off-balance sheet exposure changes, changes in forecasts utilized within the model and the identification of specific credit impairments within the loan portfolio or held-to-maturity debt securities portfolio. In March 2022, the FASB issued ASU 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings (TDRs), while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. ASU 2022-02 was updated to require that an entity disclose current-period gross writeoffs by year of origination for financing receivables and net investments in leases. ASU 2022-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. ASU 2022-02 is not expected to have a material impact on the Corporation’s consolidated financial statements. |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary Of Changes In Mortgage Service Rights | Years ended December 31, (dollars in thousands) 2022 2021 Amortized cost: Balance at beginning of year $ 380 $ 511 Originations of mortgage servicing rights 6 39 Amortization expense ( 107 ) ( 266 ) Valuation allowance 0 96 Balance at end of year $ 279 $ 380 |
Schedule Of Computation Of Net Income Per Share | (in thousands, except per share data) 2022 2021 Net income available to shareholders $ 20,092 $ 14,659 Weighted average shares outstanding (basic) 9,532 9,715 Effect of dilutive stock options 28 38 Weighted average shares outstanding (diluted) 9,560 9,753 Basic earnings per share $ 2.11 $ 1.51 Diluted earnings per share $ 2.10 $ 1.50 Anti-dilutive stock options excluded from the computation of earnings per share 30 32 |
Schedule Of Supplemental Cash Flow Information | Years ended December 31, (dollars in thousands) 2022 2021 Cash paid during the period for: Income taxes $ 410 $ 6,146 Interest $ 9,124 $ 9,907 Noncash investing activities: Transfer of loans to foreclosed real estate $ 479 $ 0 Transfer of loans to held for sale $ 16,617 $ 0 Transfer of premises and equipment to assets held for sale $ 109 $ 2,715 Initial recognition of operating lease right-of-use assets $ 2,061 $ 18 Initial recognition of operating lease liabilities $ 2,061 $ 18 |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Securities [Abstract] | |
Summary Of Securities Available-For-Sale | Amortized Gross Unrealized Fair (dollars in thousands) Cost Gains Losses Value December 31, 2022 Debt securities: U.S. Treasury notes $ 19,688 $ 0 $ ( 588 ) $ 19,100 U.S. agency 12,750 0 ( 1,470 ) 11,280 U.S. agency mortgage-backed, residential 283,436 43 ( 33,377 ) 250,102 State and municipal 35,517 37 ( 6,155 ) 29,399 Corporates 39,531 0 ( 3,955 ) 35,576 Total debt securities $ 390,922 $ 80 $ ( 45,545 ) $ 345,457 December 31, 2021 Debt securities: U.S. agency $ 3,500 $ 0 $ ( 104 ) $ 3,396 U.S. agency mortgage-backed, residential 181,783 2,148 ( 1,996 ) 181,935 State and municipal 36,319 250 ( 413 ) 36,156 Corporates 32,891 166 ( 259 ) 32,798 Total debt securities $ 254,493 $ 2,564 $ ( 2,772 ) $ 254,285 |
Schedule Of Gross Realized Gains And Losses On Sales Of Securities Available-For-Sale | Years ended December 31, (dollars in thousands) 2022 2021 Proceeds $ 4,800 $ 3,803 Gross gains 0 24 Gross losses ( 119 ) ( 47 ) |
Schedule Of Amortized Cost And Estimated Fair Value Of Debt Securities | Available-for-sale Amortized Fair (dollars in thousands) Cost Value Due in one year or less $ 2,761 $ 2,732 Due after one year through five years 122,955 115,083 Due after five years through ten years 221,656 191,056 Due after ten years 43,550 36,586 Total debt securities $ 390,922 $ 345,457 |
Schedule Of Gross Unrealized Losses And Fair Value, Aggregated By Investment Category And Length Of Time | Less than 12 months 12 months or more Total Number of Fair Unrealized Number of Fair Unrealized Number of Fair Unrealized (dollars in thousands) Securities Value Losses Securities Value Losses Securities Value Losses December 31, 2022 Debt securities: U.S. Treasury notes 4 $ 19,100 $ ( 588 ) 0 $ 0 $ 0 4 $ 19,100 $ ( 588 ) U.S. agency 7 7,594 ( 656 ) 3 3,685 ( 814 ) 10 11,279 ( 1,470 ) U.S. agency mortgage-backed, residential 147 140,409 ( 11,071 ) 72 102,061 ( 22,284 ) 219 242,470 ( 33,355 ) State and municipal 6 2,334 ( 210 ) 35 25,121 ( 5,945 ) 41 27,455 ( 6,155 ) Corporates 11 11,610 ( 831 ) 20 20,665 ( 3,124 ) 31 32,275 ( 3,955 ) Total temporarily impaired debt securities, available-for-sale 175 $ 181,047 $ ( 13,356 ) 130 $ 151,532 $ ( 32,167 ) 305 $ 332,579 $ ( 45,523 ) December 31, 2021 Debt securities: U.S. agency 2 $ 3,396 $ ( 104 ) 0 $ 0 $ 0 2 $ 3,396 $ ( 104 ) U.S. agency mortgage-backed, residential 62 112,395 ( 1,665 ) 5 12,373 ( 331 ) 67 124,768 ( 1,996 ) State and municipal 22 20,481 ( 355 ) 2 2,749 ( 58 ) 24 23,230 ( 413 ) Corporates 13 15,737 ( 244 ) 1 485 ( 15 ) 14 16,222 ( 259 ) Total temporarily impaired debt securities, available-for-sale 99 $ 152,009 $ ( 2,368 ) 8 $ 15,607 $ ( 404 ) 107 $ 167,616 $ ( 2,772 ) |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Loans [Abstract] | |
Schedule Of Loan Portfolio Composition | December 31, % Total December 31, % Total (dollars in thousands) 2022 Loans 2021 Loans Builder & developer $ 128,327 7.9 $ 156,462 10.2 Commercial real estate investor 367,366 22.5 322,887 21.1 Residential real estate investor 263,262 16.1 227,017 14.8 Hotel/Motel 94,471 5.8 70,254 4.6 Wholesale & retail 60,672 3.7 76,340 5.0 Manufacturing 86,593 5.3 72,720 4.8 Agriculture 91,449 5.6 95,317 6.2 Service 73,094 4.5 65,163 4.3 Other 209,116 12.8 222,179 14.5 Total commercial related loans 1,374,350 84.2 1,308,339 85.5 Residential mortgages 135,340 8.3 103,741 6.8 Home equity 98,030 6.0 94,842 6.2 Other 25,137 1.5 22,829 1.5 Total consumer related loans 258,507 15.8 221,412 14.5 Total loans $ 1,632,857 100.0 $ 1,529,751 100.0 |
Summary Of Loan Risk Ratings By Loan Class | Special (dollars in thousands) Pass Mention Substandard Nonaccrual Total December 31, 2022 Builder & developer $ 124,572 $ 1,010 $ 972 $ 1,773 $ 128,327 Commercial real estate investor 367,144 0 0 222 367,366 Residential real estate investor 262,406 0 0 856 263,262 Hotel/Motel 89,710 0 4,761 0 94,471 Wholesale & retail 59,930 56 686 0 60,672 Manufacturing 81,552 1,444 632 2,965 86,593 Agriculture 87,896 2,260 381 912 91,449 Service 68,373 384 4,337 0 73,094 Other 192,194 4,934 8,552 3,436 209,116 Total commercial related loans 1,333,777 10,088 20,321 10,164 1,374,350 Residential mortgage 134,850 0 141 349 135,340 Home equity 97,573 0 0 457 98,030 Other 25,137 0 0 0 25,137 Total consumer related loans 257,560 0 141 806 258,507 Total loans $ 1,591,337 $ 10,088 $ 20,462 $ 10,970 $ 1,632,857 December 31, 2021 Builder & developer $ 142,983 $ 6,016 $ 6,656 $ 807 $ 156,462 Commercial real estate investor 316,976 929 1,039 3,943 322,887 Residential real estate investor 226,126 0 611 280 227,017 Hotel/Motel 40,789 0 17,273 12,192 70,254 Wholesale & retail 73,821 1,346 1,173 0 76,340 Manufacturing 67,544 0 51 5,125 72,720 Agriculture 90,226 80 714 4,297 95,317 Service 57,667 404 6,121 971 65,163 Other 201,226 1,384 14,197 5,372 222,179 Total commercial related loans 1,217,358 10,159 47,835 32,987 1,308,339 Residential mortgage 103,669 0 10 62 103,741 Home equity 94,358 47 0 437 94,842 Other 22,733 0 0 96 22,829 Total consumer related loans 220,760 47 10 595 221,412 Total loans $ 1,438,118 $ 10,206 $ 47,845 $ 33,582 $ 1,529,751 |
Summary Of Impaired Loans | With No Allowance With A Related Allowance Total Recorded Unpaid Recorded Unpaid Related Recorded Unpaid (dollars in thousands) Investment Principal Investment Principal Allowance Investment Principal December 31, 2022 Builder & developer $ 1,901 $ 2,644 $ 44 $ 44 $ 44 $ 1,945 $ 2,688 Commercial real estate investor 500 500 0 0 0 500 500 Residential real estate investor 647 665 209 215 152 856 880 Hotel/Motel 0 0 0 0 0 0 0 Wholesale & retail 0 0 0 0 0 0 0 Manufacturing 2,783 2,877 182 183 33 2,965 3,060 Agriculture 164 210 748 930 655 912 1,140 Service 0 0 0 0 0 0 0 Other commercial 1,836 3,037 1,600 2,338 1,600 3,436 5,375 Total impaired commercial related loans 7,831 9,933 2,783 3,710 2,484 10,614 13,643 Residential mortgage 1,112 1,115 0 0 0 1,112 1,115 Home equity 457 512 0 0 0 457 512 Other consumer 0 0 0 0 0 0 0 Total impaired consumer related loans 1,569 1,627 0 0 0 1,569 1,627 Total impaired loans $ 9,400 $ 11,560 $ 2,783 $ 3,710 $ 2,484 $ 12,183 $ 15,270 December 31, 2021 Builder & developer $ 991 $ 1,078 $ 0 $ 0 $ 0 $ 991 $ 1,078 Commercial real estate investor 2,834 2,854 1,878 1,878 1,464 4,712 4,732 Residential real estate investor 280 438 0 0 0 280 438 Hotel/Motel 12,192 12,754 0 0 0 12,192 12,754 Wholesale & retail 0 0 0 0 0 0 0 Manufacturing 5,125 5,501 0 0 0 5,125 5,501 Agriculture 2,709 2,893 1,588 1,784 467 4,297 4,677 Service 0 0 971 1,061 377 971 1,061 Other commercial 3,622 4,376 1,750 2,389 1,750 5,372 6,765 Total impaired commercial related loans 27,753 29,894 6,187 7,112 4,058 33,940 37,006 Residential mortgage 62 64 0 0 0 62 64 Home equity 437 474 0 0 0 437 474 Other consumer 96 104 0 0 0 96 104 Total impaired consumer related loans 595 642 0 0 0 595 642 Total impaired loans $ 28,348 $ 30,536 $ 6,187 $ 7,112 $ 4,058 $ 34,535 $ 37,648 The table below presents a summary of average impaired loans and related interest income that was included in net income for the years ended December 31, 2022 and 2021. Interest income on loans is the result of interest collected on a cash basis, except accruing TDRs. With No Related Allowance With A Related Allowance Total Average Total Average Total Average Total Recorded Interest Recorded Interest Recorded Interest (dollars in thousands) Investment Income Investment Income Investment Income December 31, 2022 Builder & developer $ 1,168 $ 0 $ 605 $ 0 $ 1,773 $ 0 Commercial real estate investor 2,494 22 376 0 2,870 22 Residential real estate investor 502 27 127 0 629 27 Hotel/Motel 4,854 0 0 0 4,854 0 Wholesale & retail 0 0 0 0 0 0 Manufacturing 4,139 37 37 5 4,176 42 Agriculture 1,219 534 766 0 1,985 534 Service 0 0 388 0 388 0 Other commercial 1,164 177 3,197 0 4,361 177 Total impaired commercial related loans 15,540 797 5,496 5 21,036 802 Residential mortgage 584 19 224 8 808 27 Home equity 459 30 0 0 459 30 Other consumer 55 15 0 0 55 15 Total impaired consumer related loans 1,098 64 224 8 1,322 72 Total impaired loans $ 16,638 $ 861 $ 5,720 $ 13 $ 22,358 $ 874 December 31, 2021 Builder & developer $ 919 $ 0 $ 0 $ 0 $ 919 $ 0 Commercial real estate investor 1,431 45 376 0 1,807 45 Residential real estate investor 1,302 72 1,044 17 2,346 89 Hotel/Motel 12,443 0 0 0 12,443 0 Wholesale & retail 94 13 0 0 94 13 Manufacturing 7,025 19 0 0 7,025 19 Agriculture 3,334 125 1,202 0 4,536 125 Service 583 0 388 0 971 0 Other commercial 4,621 26 3,542 61 8,163 87 Total impaired commercial related loans 31,752 300 6,552 78 38,304 378 Residential mortgage 56 0 0 0 56 0 Home equity 561 0 0 0 561 0 Other consumer 197 6 0 0 197 6 Total impaired consumer related loans 814 6 0 0 814 6 Total impaired loans $ 32,566 $ 306 $ 6,552 $ 78 $ 39,118 $ 384 |
Summary Of Past Due Loans, Nonaccrual Loans And Current Loans By Loan Segment And Class | ≥ 90 Days 30-59 60-89 Past Due Total Past Days Days and Due and Total (dollars in thousands) Past Due Past Due Accruing Nonaccrual Nonaccrual Current Loans December 31, 2022 Builder & developer $ 3,500 $ 0 $ 0 $ 1,773 $ 5,273 $ 123,054 $ 128,327 Commercial real estate investor 0 0 0 222 222 367,144 367,366 Residential real estate investor 0 0 0 856 856 262,406 263,262 Hotel/Motel 0 0 0 0 0 94,471 94,471 Wholesale & retail 0 0 0 0 0 60,672 60,672 Manufacturing 0 0 0 2,965 2,965 83,628 86,593 Agriculture 8 0 0 912 920 90,529 91,449 Service 0 0 0 0 0 73,094 73,094 Other 0 0 0 3,436 3,436 205,680 209,116 Total commercial related loans 3,508 0 0 10,164 13,672 1,360,678 1,374,350 Residential mortgage 207 0 0 349 556 134,784 135,340 Home equity 345 94 0 457 896 97,134 98,030 Other 7 42 0 0 49 25,088 25,137 Total consumer related loans 559 136 0 806 1,501 257,006 258,507 Total loans $ 4,067 $ 136 $ 0 $ 10,970 $ 15,173 $ 1,617,684 $ 1,632,857 December 31, 2021 Builder & developer $ 0 $ 0 $ 0 $ 807 $ 807 $ 155,655 $ 156,462 Commercial real estate investor 0 812 0 3,943 4,755 318,132 322,887 Residential real estate investor 0 0 0 280 280 226,737 227,017 Hotel/Motel 0 0 0 12,192 12,192 58,062 70,254 Wholesale & retail 0 183 0 0 183 76,157 76,340 Manufacturing 0 0 0 5,125 5,125 67,595 72,720 Agriculture 0 0 324 4,297 4,621 90,696 95,317 Service 0 0 0 971 971 64,192 65,163 Other 9 34 0 5,372 5,415 216,764 222,179 Total commercial related loans 9 1,029 324 32,987 34,349 1,273,990 1,308,339 Residential mortgage 0 308 0 62 370 103,371 103,741 Home equity 193 0 0 437 630 94,212 94,842 Other 5,869 132 0 96 6,097 16,732 22,829 Total consumer related loans 6,062 440 0 595 7,097 214,315 221,412 Total loans $ 6,071 $ 1,469 $ 324 $ 33,582 $ 41,446 $ 1,488,305 $ 1,529,751 |
Summary Of Loans Modified Under TDRs | Modifications Number Recorded of Investment (dollars in thousands) Contracts at Period End Years ended: December 31, 2022 Commercial related loans nonaccrual 2 $ 0 Consumer related loans accruing 2 $ 763 Consumer related loans nonaccrual 1 $ 0 December 31, 2021 None |
Allowance For Loan Losses (Tabl
Allowance For Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Allowance For Loan Losses [Abstract] | |
Summary Of Allowance For Loan Losses By Loan Segment And Class | Allowance for Loan Losses January 1, 2022 December 31, 2022 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,408 $ ( 423 ) $ 12 $ ( 228 ) $ 1,769 Commercial real estate investor 5,647 ( 1,249 ) 1,249 ( 789 ) 4,858 Residential real estate investor 3,493 ( 52 ) 50 ( 678 ) 2,813 Hotel/Motel 968 ( 1,668 ) 179 2,179 1,658 Wholesale & retail 1,989 ( 41 ) 0 ( 1,460 ) 488 Manufacturing 883 0 0 47 930 Agriculture 1,307 ( 535 ) 40 833 1,645 Service 981 ( 763 ) 1 845 1,064 Other commercial 4,656 ( 1,747 ) 34 2,009 4,952 Total commercial related loans 22,332 ( 6,478 ) 1,565 2,758 20,177 Residential mortgage 186 0 0 84 270 Home equity 191 ( 49 ) 27 38 207 Other consumer 74 ( 28 ) 27 9 82 Total consumer related loans 451 ( 77 ) 54 131 559 Unallocated ( 1 ) 0 0 1 0 Total $ 22,782 $ ( 6,555 ) $ 1,619 $ 2,890 $ 20,736 Allowance for Loan Losses January 1, 2021 December 31, 2021 (dollars in thousands) Balance Charge-offs Recoveries Provision Balance Builder & developer $ 2,034 $ 0 $ 23 $ 351 $ 2,408 Commercial real estate investor 3,177 0 0 2,470 5,647 Residential real estate investor 3,944 ( 241 ) 61 ( 271 ) 3,493 Hotel/Motel 1,440 0 0 ( 472 ) 968 Wholesale & retail 2,416 0 0 ( 427 ) 1,989 Manufacturing 840 0 0 43 883 Agriculture 1,288 0 0 19 1,307 Service 457 0 0 524 981 Other commercial 5,002 ( 2,038 ) 32 1,660 4,656 Total commercial related loans 20,598 ( 2,279 ) 116 3,897 22,332 Residential mortgage 256 0 0 ( 70 ) 186 Home equity 287 ( 5 ) 3 ( 94 ) 191 Other consumer 101 ( 35 ) 55 ( 47 ) 74 Total consumer related loans 644 ( 40 ) 58 ( 211 ) 451 Unallocated 22 0 0 ( 23 ) ( 1 ) Total $ 21,264 $ ( 2,319 ) $ 174 $ 3,663 $ 22,782 |
Summary Of Allowance Amount For Loans Individually And Collectively Evaluated For Impairment | Allowance for Loan Losses Loans Individually Collectively Individually Collectively Evaluated For Evaluated For Evaluated For Evaluated For (dollars in thousands) Impairment Impairment Balance Impairment Impairment Balance December 31, 2022 Builder & developer $ 44 $ 1,725 $ 1,769 $ 1,945 $ 126,382 $ 128,327 Commercial real estate investor 0 4,858 4,858 500 366,866 367,366 Residential real estate investor 152 2,661 2,813 856 262,406 263,262 Hotel/Motel 0 1,658 1,658 0 94,471 94,471 Wholesale & retail 0 488 488 0 60,672 60,672 Manufacturing 33 897 930 2,965 83,628 86,593 Agriculture 655 990 1,645 912 90,537 91,449 Service 0 1,064 1,064 0 73,094 73,094 Other commercial 1,600 3,352 4,952 3,436 205,680 209,116 Total commercial related 2,484 17,693 20,177 10,614 1,363,736 1,374,350 Residential mortgage 0 270 270 1,112 134,228 135,340 Home equity 0 207 207 457 97,573 98,030 Other consumer 0 82 82 0 25,137 25,137 Total consumer related 0 559 559 1,569 256,938 258,507 Unallocated 0 0 0 0 0 0 Total $ 2,484 $ 18,252 $ 20,736 $ 12,183 $ 1,620,674 $ 1,632,857 December 31, 2021 Builder & developer $ 0 $ 2,408 $ 2,408 $ 991 $ 155,471 $ 156,462 Commercial real estate investor 1,464 4,183 5,647 4,712 318,175 322,887 Residential real estate investor 0 3,493 3,493 280 226,737 227,017 Hotel/Motel 0 968 968 12,192 58,062 70,254 Wholesale & retail 0 1,989 1,989 0 76,340 76,340 Manufacturing 0 883 883 5,125 67,595 72,720 Agriculture 467 840 1,307 4,297 91,020 95,317 Service 377 604 981 971 64,192 65,163 Other commercial 1,750 2,906 4,656 5,372 216,807 222,179 Total commercial related 4,058 18,274 22,332 33,940 1,274,399 1,308,339 Residential mortgage 0 186 186 62 103,679 103,741 Home equity 0 191 191 437 94,405 94,842 Other consumer 0 74 74 96 22,733 22,829 Total consumer related 0 451 451 595 220,817 221,412 Unallocated 0 ( 1 ) ( 1 ) 0 0 0 Total $ 4,058 $ 18,724 $ 22,782 $ 34,535 $ 1,495,216 $ 1,529,751 |
Premises, Equipment And Leases
Premises, Equipment And Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Premises, Equipment And Leases [Abstract] | |
Summary Of Premises And Equipment | (dollars in thousands) 2022 2021 Land $ 4,092 $ 4,030 Buildings and improvements 27,351 26,982 Financing lease right-of-use assets 994 1,041 Equipment 24,943 23,753 Total premises and equipment 57,380 55,806 Less accumulated depreciation/amortization ( 36,244 ) ( 33,851 ) Premises and equipment, net $ 21,136 $ 21,955 |
Components Of Lease Expense | Twelve months ended December 31, (dollars in thousands) 2022 2021 Operating lease cost $ 770 $ 601 Finance lease cost: Amortization of right-of-use assets $ 47 $ 47 Interest on lease liability 46 47 Total finance lease cost $ 93 $ 94 Total lease cost $ 863 $ 695 |
Supplemental Cash Flow Information Related To Leases | Twelve months ended December 31, 2022 2021 Operating cash flows from operating leases $ 743 $ 624 Operating cash flows from financing leases 46 47 Financing cash flows from financing leases 29 28 Right-of-use assets obtained in exchange for lease obligations: Operating leases 2,061 18 Finance leases 0 0 |
Supplemental Balance Sheet Information Related To Leases | December 31, 2022 2021 Assets: Operating leases right-of-use assets $ 3,072 $ 1,697 Finance leases assets 994 1,041 Total lease assets $ 4,066 $ 2,738 Liabilities: Operating $ 3,204 $ 1,803 Financing 1,240 1,269 Total lease liabilities $ 4,444 $ 3,072 Weighted Average Remaining Lease Term (years) Operating leases 6.9 4.3 Finance leases 21.2 22.2 Weighted Average Discount Rate Operating leases 2.14 % 2.58 % Finance leases 3.69 % 3.69 % |
Future Minimum Payments For Financing Leases And Operating Leases | Year Ending December 31, Operating Leases Finance Leases 2023 $ 701 $ 75 2024 638 75 2025 417 79 2026 324 80 2027 314 80 Thereafter 1,036 1,429 Total lease payments 3,430 1,818 Less imputed interest ( 226 ) ( 578 ) Total $ 3,204 $ 1,240 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Deposits [Abstract] | |
Schedule Of Composition Of Deposits | December 31, (dollars in thousands) 2022 2021 Noninterest bearing demand $ 463,853 $ 524,609 Interest bearing demand 289,298 261,945 Money market 646,702 744,224 Savings 161,228 151,272 Time deposits less than $100 210,331 247,398 Time deposits $100 to $250 123,002 151,377 Time deposits $250 or more 48,805 62,940 Total deposits $ 1,943,219 $ 2,143,765 |
Scheduled Maturities Of Time Deposits | (dollars in thousands) 2022 2023 $ 262,893 2024 82,904 2025 30,068 2026 3,744 2027 2,103 Thereafter 426 Total time deposits $ 382,138 |
Short-Term Borrowings And Lon_2
Short-Term Borrowings And Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Short-Term Borrowings And Long-Term Debt [Abstract] | |
Summary Of Aggregate Short-Term Borrowings | 2022 2021 Other Other Repurchase Short-term Repurchase Short-term (dollars in thousands) agreements borrowings agreements borrowings Amount outstanding at end of year $ 11,605 $ 0 $ 10,761 $ 0 Weighted average interest rate at end of year 0.40 % 0 % 0.40 % 0 % Maximum amount outstanding at any month-end $ 14,249 $ 0 $ 13,393 $ 0 Daily average amount outstanding $ 11,986 $ 0 $ 10,451 $ 0 Approximate weighted average interest rate for the year 0.40 % 0 % 0.40 % 0 % |
Summary Of Long-Term Debt | December 31, (dollars in thousands) 2022 2021 PeoplesBank’s obligations: FHLBP Due May 2022 , 2.93 % $ 0 $ 10,000 Total FHLBP 0 10,000 Codorus Valley Bancorp, Inc. obligations: Junior subordinated debt Due 2034 , 6.79 %, floating rate based on 3 month LIBOR plus 2.02 %, callable quarterly 3,093 3,093 Due 2036 , 5.62 % floating rate based on 3 month LIBOR plus 1.54 %, callable quarterly 7,217 7,217 Due 2030 , 4.50 %, fixed rate, callable on or after December 2025 30,764 30,683 Total junior subordinated debt $ 41,074 $ 40,993 Lease obligations included in long-term debt: Finance lease liabilities 1,240 1,269 Total long-term debt $ 42,314 $ 52,262 |
Summary Of Long-Term Debt Maturities | (dollars in thousands) 2022 2023 $ 75 2024 75 2025 79 2026 80 2027 80 Thereafter 41,925 Total long-term debt $ 42,314 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Regulatory Matters [Abstract] | |
Schedule Of Risk-Based Capital Ratios And Leverage Ratios | To Be Well Capitalized Under Required for Capital Prompt Corrective Action Actual (1) Adequacy Purposes (2) (3) Provisions (2) (dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Codorus Valley Bancorp, Inc. (consolidated ) at December 31, 2022 Capital ratios: Common Equity Tier 1 $ 209,540 12.04 % $ 121,871 7.00 % $ n/a n/a % Tier 1 risk based 219,540 12.61 147,986 8.50 n/a n/a Total risk based 271,040 15.57 182,806 10.50 n/a n/a Leverage 219,540 9.77 89,863 4.00 n/a n/a at December 31, 2021 Capital ratios: Common Equity Tier 1 $ 193,142 12.11 % $ 111,612 7.00 % $ n/a n/a % Tier 1 risk based 203,142 12.74 135,529 8.50 n/a n/a Total risk based 253,791 15.92 167,418 10.50 n/a n/a Leverage 203,142 8.59 94,596 4.00 n/a n/a PeoplesBank, A Codorus Valley Company at December 31, 2022 Capital ratios: Common Equity Tier 1 $ 245,896 14.15 % $ 121,667 7.00 % $ 112,976 6.50 % Tier 1 risk based 245,896 14.15 147,738 8.50 139,048 8.00 Total risk based 266,632 15.34 182,500 10.50 173,810 10.00 Leverage 245,896 10.96 89,705 4.00 112,131 5.00 at December 31, 2021 Capital ratios: Common Equity Tier 1 $ 230,162 14.47 % $ 111,348 7.00 % $ 103,395 6.50 % Tier 1 risk based 230,162 14.47 135,208 8.50 127,255 8.00 Total risk based 250,081 15.72 167,022 10.50 159,069 10.00 Leverage 230,162 9.75 94,457 4.00 118,071 5.00 (1) Net unrealized gains and losses on securities available-for-sale, net of taxes, are disregarded for capital ratio computation purposes in accordance with federal regulatory banking guidelines. (2) The Corporation is currently not subject to the regulatory capital requirements imposed by Basel III on bank holding companies because the Corporation’s consolidated assets did not exceed $ 3.0 billion as of December 31, 2022 and therefore qualified as a small bank holding company. (3) Ratio includes Capital Conservation Buffer of 2.50 %, except Leverage Ratio, for which the Capital Conservation Buffer does not apply. |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Stock-Based Compensation [Abstract] | |
Schedule Of Share Based Compensation Stock Plans | Number of Number of Number of shares shares outstanding available for future Plan Types of grants reserved (1) awards (1) issuance (1) Stock options Stock appreciation rights 2007 Long Term Incentive Restricted stock Plan (07LTIP) Stock awards 90,518 90,518 0 (2) Stock options Stock appreciation rights Restricted stock 2017 Long Term Incentive Restricted stock units Plan (17LTIP) Stock awards 340,032 141,434 (3) 198,598 2007 Employee Stock Purchase Plan (ESPP) Stock options 111,760 0 111,760 Employee Stock Bonus Plan (ESBP) Stock awards 21,117 0 21,117 (1) Shares/options are subject to adjustment in the event of specified changes in the Corporation's capital structure. (2) Plan expired on May 15, 2017. (3) Amount includes 67,247 of unvested restricted stock and 13,489 unvested restricted stock units. |
Summary Of Compensation Expense And Related Tax Benefits For Stock Option And Restricted Stock Awards | (dollars in thousands) 2022 2021 Compensation expense $ 925 $ 721 Tax benefit ( 194 ) ( 151 ) Net income effect $ 731 $ 570 |
Granted Restricted Stock, Restricted Stock Units and Stock Awards | 2022 2021 Restricted stock 47,609 37,199 Restricted stock units 2,134 15,564 Stock award 5,957 7,490 |
Summary Of Stock Options Activity | Weighted Average Weighted Average Aggregate Exercise Price Remaining Intrinsic Value Options Per Share Contractual Term ($000) Outstanding at January 1, 2022 148,654 $ 17.83 4.0 years $ 638 Granted 0 0.00 Exercised ( 26,245 ) 13.66 Cancelled/Forfeited ( 2,141 ) 22.74 Expired 0 0.00 Outstanding at December 31, 2022 120,268 $ 18.65 3.3 years $ 654 Vested and exercisable at December 31, 2022 120,268 $ 18.65 3.3 years $ 654 |
Schedule Of Stock Options Exercised | (dollars in thousands) 2022 2021 Total intrinsic value of options exercised $ 177 $ 373 Cash received from options exercised $ 392 $ 139 Tax deduction realized from options exercised $ 37 $ 78 |
Summary Of Non-Vested Options And Restricted Stock | Stock Options Restricted Stock Restricted Stock Units Weighted Average Weighted Average Weighted Average Exercise Price Grant Date Grant Date Options Per Share Shares Fair Value Shares Fair Value Non-vested at January 1, 2022 0 $ 0.00 46,448 $ 19.62 15,564 $ 9.25 Vested 0 0 ( 20,332 ) 20.24 ( 2,075 ) 23.13 Cancelled/Forfeited 0 0 ( 6,478 ) 21.30 0 0 Granted 0 0 47,609 21.97 0 0 Non-vested at December 31, 2022 0 $ 0 67,247 $ 20.93 13,489 $ 7.12 |
Schedule Of Employee Stock Purchase Plan | 2022 2021 ESPP shares purchased 13,543 17,308 Average purchase price per share ( 85 % of market value) $ 18.781 $ 15.836 Compensation expense recognized (in thousands) $ 54 $ 64 Shares issued from treasury stock to satisfy the purchase of ESPP shares 13,543 17,308 Shares issued from authorized but unissued common stock to satisfy the purchase of ESPP shares 0 0 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income Taxes [Abstract] | |
Provision For Income Taxes | (dollars in thousands) 2022 2021 Current tax provision Federal $ 4,230 $ 3,345 State 664 606 Total current tax provision 4,894 3,951 Deferred tax expense (benefit) Federal 614 9 State 48 ( 32 ) Total deferred tax expense (benefit) 662 ( 23 ) Total tax provision $ 5,556 $ 3,928 |
Summary Of Effective Income Tax Rate And The Federal Statutory Income Tax Rate | 2022 2021 Statutory tax rate 21.0 % 21.0 % Increase (decrease) resulting from: Tax-exempt interest income ( 0.8 ) ( 0.7 ) Bank owned life insurance income ( 1.0 ) ( 1.4 ) State income taxes, net of federal tax benefit 2.6 2.4 Other, net ( 0.1 ) ( 0.2 ) Effective income tax rate 21.7 % 21.1 % |
Summary Of Deferred Tax Assets And Liabilities | (dollars in thousands) 2022 2021 Deferred tax assets Allowance for loan losses $ 4,896 $ 5,033 Deferred compensation 1,655 1,460 Leasing 1,049 725 Net unrealized losses on available-for-sale securities 10,679 44 Other 629 580 Total deferred tax assets $ 18,908 $ 7,842 Deferred tax liabilities Deferred loan fees $ 750 $ 369 Depreciation 82 216 Leasing 960 646 Acquisition accounting adjustments 7 10 Other 417 246 Total deferred tax liabilities $ 2,216 $ 1,487 Net deferred tax assets $ 16,692 $ 6,355 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Commitments [Abstract] | |
Summary Of Outstanding Commitments | (dollars in thousands) 2022 2021 Commitments to grant loans Fixed rate $ 30,571 $ 37,352 Variable rate 17,494 44,383 Unfunded commitments of existing loans Fixed rate $ 60,360 $ 42,435 Variable rate 564,003 466,567 Standby letters of credit $ 23,601 $ 14,688 |
Fair Value Of Assets And Liab_2
Fair Value Of Assets And Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Fair Value Of Assets And Liabilities [Abstract] | |
Schedule Of Assets Measured At Fair Value On Recurring Basis | Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Other Significant Other Active Markets for Observable Unobservable (dollars in thousands) Total Identical Assets Inputs Inputs December 31, 2022 Securities available-for-sale: U.S. Treasury notes $ 19,100 $ 19,100 $ 0 $ 0 U.S. agency 11,280 0 11,280 0 U.S. agency mortgage-backed, residential 250,102 0 250,102 0 State and municipal 29,399 0 29,399 0 Corporates 35,576 0 35,576 0 Other assets: Loan-level interest rate swaps 8 0 8 0 December 31, 2021 Securities available-for-sale: U.S. agency $ 3,396 $ 0 $ 3,396 $ 0 U.S. agency mortgage-backed, residential 181,935 0 181,935 0 State and municipal 36,156 0 36,156 0 Corporates 32,798 0 32,798 0 Other assets: Loan-level interest rate swaps ( 51 ) 0 ( 51 ) 0 |
Schedule Of Assets Measured At Fair Value On Nonrecurring Basis | Fair Value Measurements (Level 1) (Level 2) (Level 3) Quoted Prices in Significant Significant Other Active Markets for Other Unobservable (dollars in thousands) Total Identical Assets Observable Inputs Inputs December 31, 2022 Impaired builder & developer loans $ 1,194 $ 0 $ 0 $ 1,194 Impaired residential real estate investor loans 57 0 0 57 Impaired agriculture loans 228 0 0 228 Impaired manufacturer loans 150 0 0 150 Impaired other loans 1,114 0 0 1,114 Impaired other real estate owned 479 0 0 479 December 31, 2021 Impaired builder & developer loans $ 224 $ 0 $ 0 $ 224 Impaired residential real estate investor loans 89 0 0 89 Impaired commercial real estate loans 414 0 0 414 Impaired agriculture loans 1,121 0 0 1,121 Impaired service loans 594 0 0 594 Impaired other loans 700 0 0 700 Mortgage servicing rights 380 0 0 380 |
Schedule Of Level 3 Assets Measured At Fair Value On Nonrecurring Basis | Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Unobservable Weighted (dollars in thousands) Estimate Techniques Input Range Average December 31, 2022 Impaired builder & developer loans $ 1,194 Appraisal (1) Appraisal adjustments (2) 2 % - 22 % 5 % Impaired residential real estate investor loans 57 Appraisal (1) Appraisal adjustments (2) 6 % - 10 % 8 % Impaired agriculture loans 228 Appraisal (1) Appraisal adjustments (2) 5 % - 13 % 9 % Impaired manufacturer loans 150 Appraisal (1) Appraisal adjustments (2) 67 % - 67 % 67 % Impaired other loans 1,114 Appraisal (1) Appraisal adjustments (2) 0 % - 25 % 5 % Impaired other real estate owned 479 Appraisal (1) Appraisal adjustments (2) 0 % - 25 % 22 % December 31, 2021 Impaired builder & developer loans $ 224 Appraisal (1) Appraisal adjustments (2) 15 % - 15 % 15 % Impaired residential real estate investor loans 89 Appraisal (1) Appraisal adjustments (2) 15 % - 15 % 15 % Impaired commercial real estate loans 414 Appraisal (1) Appraisal adjustments (2) 15 % - 15 % 15 % Impaired agriculture loans 1,121 Appraisal (1) Appraisal adjustments (2) 15 % - 20 % 18 % Impaired service loans 594 Appraisal (1) Appraisal adjustments (2) 15 % - 15 % 15 % Impaired other loans 700 Appraisal (1) Appraisal adjustments (2) 15 % - 15 % 15 % Mortgage servicing rights 380 Multiple of annual service fee Estimated prepayment speed based on rate and term 14.9 % - 14.9 % 14.9 % (1) Fair value is generally determined through independent appraisals which generally include various level 3 inputs that are not identifiable. (2) Appraisal amounts may be adjusted downward by the Corporation's management for qualitative factors such as economic conditions, and estimated liquidation expenses. The range of liquidation expenses and other adjustments are presented as a percent of the appraisal or financial statement book value. |
Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments | Fair Value Estimates (Level 1) (Level 2) (Level 3) Quoted Prices Significant Significant in Active Other Other Carrying Estimated Markets for Observable Unobservable (dollars in thousands) Amount Fair Value Identical Assets Inputs Inputs December 31, 2022 Financial assets Cash and cash equivalents $ 120,439 $ 120,439 $ 120,439 $ 0 $ 0 Securities available-for-sale 345,457 345,457 19,100 326,357 0 Restricted investment in bank stocks 955 N/A N/A N/A N/A Loans held for sale 154 157 0 157 0 Loans, net 1,612,121 1,503,440 0 0 1,503,440 Interest receivable 6,624 6,624 0 948 5,676 Financial liabilities Deposits $ 1,943,219 $ 1,932,689 $ 0 $ 1,932,689 $ 0 Short-term borrowings 11,605 11,605 0 11,605 0 Long-term debt (1) 10,310 10,165 0 0 10,165 Subordinated debentures 30,764 29,145 0 29,145 0 Interest payable 492 492 0 492 0 Off-balance sheet instruments 0 0 0 0 0 December 31, 2021 Financial assets Cash and cash equivalents $ 545,494 $ 545,494 $ 545,494 $ 0 $ 0 Securities available-for-sale 254,285 254,285 0 254,285 0 Restricted investment in bank stocks 1,311 N/A N/A N/A N/A Loans held for sale 7,876 8,271 0 8,271 0 Loans, net 1,506,969 1,498,388 0 0 1,498,388 Interest receivable 4,562 4,562 0 752 3,810 Financial liabilities Deposits $ 2,143,765 $ 2,143,187 $ 0 $ 2,143,187 $ 0 Short-term borrowings 10,761 10,761 0 10,761 0 Long-term debt 20,310 18,999 0 10,109 8,890 Subordinated debentures 30,683 32,578 0 32,578 0 Interest payable 216 216 0 216 0 Off-balance sheet instruments 0 0 0 0 0 (1) Excludes leases included in long-term debt. |
Assets And Liabilities Subjec_2
Assets And Liabilities Subject To Offsetting (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Assets And Liabilities Subject To Offsetting [Abstract] | |
Schedule Of Securities Sold Under Agreements To Repurchase | Gross amounts Not Offset in Gross Net Amounts the Statements of Condition Gross Amounts of Liabilities Financial Instruments Amounts of Offset in the Presented in U.S Agency Cash Recognized Statements of the Statements mortgage-backed, Collateral Net (dollars in thousands) Liabilities Condition of Condition residential U.S. agency Pledged Amount December 31, 2022 Repurchase Agreements $ 11,605 $ 0 $ 11,605 $ ( 13,767 ) $ 0 $ 0 $ ( 2,162 ) December 31, 2021 Repurchase Agreements $ 10,761 $ 0 $ 10,761 $ ( 12,268 ) $ 0 $ 0 $ ( 1,507 ) |
Interest Rate Swaps (Tables)
Interest Rate Swaps (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Interest Rate Swaps [Abstract] | |
Fair Value, Notational Amount, And Collateral Posted Related To Loan-Level Interest Rate Swaps | December 31, (dollars in thousands) 2022 2021 Interest Rate Swap Contracts - Commercial Loans: Fair Value (a) $ 8 $ ( 51 ) Notional Amount 5,992 7,266 Cash Collateral Posted (b) 0 0 (a) Included in other assets and other non-interest income as of December 31, 2022 and December 31, 2021 on the Consolidated Balance Sheets and Consolidated Statements of Income, respectively. (b) No cash collateral was posted as of December 31, 2022 or December 31, 2021. |
Gross Amounts Of Commercial Loan Swap Derivatives, Amounts Offset And Carrying Values In Consolidated Balance Sheets, And Collateral Pledged To Support Such Agreements | December 31, (dollars in thousands) 2022 2021 Interest Rate Swap Contracts - Commercial Loans: Gross amounts recognized $ 8 $ ( 51 ) Gross amounts offset 8 ( 51 ) Net amounts presented in the Consolidated Balance Sheets $ 0 $ 0 Gross amounts not offset: Financial instruments $ 0 $ 0 Cash Collateral 0 0 Net amounts $ 0 $ 0 |
Condensed Financial Informati_2
Condensed Financial Information-Parent Company Only (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Condensed Financial Information-Parent Company Only [Abstract] | |
Condensed Balance Sheets | December 31, (dollars in thousands) 2022 2021 Assets Cash and due from banks $ 743 $ 222 Investment in bank subsidiary 213,657 232,525 Investment in other subsidiaries 314 314 Premises and equipment, net 2,481 2,667 Other assets 1,337 879 Total assets $ 218,532 $ 236,607 Liabilities Long-term debt $ 10,310 $ 10,310 Subordinated debentures 30,764 30,683 Other liabilities 158 109 Total liabilities 41,232 41,102 Shareholders' equity 177,300 195,505 Total liabilities and shareholders' equity $ 218,532 $ 236,607 |
Condensed Statements Of Income And Comprehensive Income | Years ended December 31, (dollars in thousands) 2022 2021 Income Interest from investment securities $ 11 $ 6 Dividends from bank subsidiary 5,255 4,800 Total income 5,266 4,806 Expense Interest expense on long-term debt 370 193 Interest expense on subordinated debentures 1,476 1,476 Occupancy of premises, net 303 174 Other 2,850 936 Total expense 4,999 2,779 Income before applicable income tax benefit and undistributed earnings of subsidiaries 267 2,027 Applicable income tax benefit 1,093 657 Income before undistributed earnings of subsidiaries 1,360 2,684 Equity in undistributed earnings of bank subsidiary 18,732 11,975 Net income $ 20,092 $ 14,659 Comprehensive (loss) income $ ( 14,508 ) $ 10,928 |
Condensed Statements Of Cash Flows | Years ended December 31, (dollars in thousands) 2022 2021 Cash flows from operating activities Net income $ 20,092 $ 14,659 Adjustments to reconcile net income to net cash provided by operations: Depreciation 186 190 Amortization of subordinated debentures issuance fees 81 81 Equity in undistributed earnings of subsidiaries, net ( 18,732 ) ( 11,975 ) Other, net 570 323 Net cash provided by operating activities 2,197 3,278 Cash flows from investing activities Additional investment from (in) bank subsidiary 3,000 ( 20,000 ) Purchases of premises and equipment 0 ( 16 ) Net cash provided by (used in) investing activities 3,000 ( 20,016 ) Cash flows from financing activities Cash dividends paid to shareholders ( 5,715 ) ( 5,270 ) Treasury stock repurchased ( 34 ) ( 9,878 ) Net issuance of stock 1,073 980 Net cash used in financing activities ( 4,676 ) ( 14,168 ) Net increase (decrease) in cash and cash equivalents 521 ( 30,906 ) Cash and cash equivalents at beginning of year 222 31,128 Cash and cash equivalents at end of year $ 743 $ 222 |
Summary Of Significant Accoun_4
Summary Of Significant Accounting Policies (Narrative) (Details) | 1 Months Ended | 12 Months Ended | |
Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) segment property | Dec. 31, 2021 USD ($) property | |
Summary of Significant Accounting Policies [Line Items] | |||
Deposit | $ 1,943,219,000 | $ 2,143,765,000 | |
Excess capital stock percent repurchase amount of member's total capital stock outstanding | 5% | ||
Other assets | $ 89,417,000 | 76,684,000 | |
Foreclosed real estate, net of allowance | 479,000 | 0 | |
Assets held by PeoplesBank in a fiduciary or agency capacity | 820,283,000 | 857,798,000 | |
Adjustment for unrecognized income tax benefits | 0 | 0 | |
Other income | 1,880,000 | 1,998,000 | |
Cash surrender value of the underlying properties | $ 55,897,000 | 54,644,000 | |
Number of operating segment | segment | 1 | ||
Retained earnings | $ 52,146,000 | $ 37,769,000 | |
Bank Premises And Equipment [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Number of properties designated as held-for-sale | property | 1 | 1 | |
Other assets | $ 567,000 | $ 567,000 | |
Mortgage Servicing Rights [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Other income | 153,000 | 287,000 | |
Mortgage Servicing Rights [Member] | Residential Mortgage Loans [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Mortgage loans serviced for third parties | $ 55,708,000 | 66,885,000 | |
Madison Bancorp, Inc. [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Intangible assets, amortization period | 10 years | ||
Subsequent Event [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Percentage deposits estimated to be FDIC insured | 82% | ||
Percentage deposits fully collateralized | 6% | ||
Minimum [Member] | Accounting Standards Update 2022-02 [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Retained earnings | $ (2,000,000) | ||
Minimum [Member] | Buildings and Improvements [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 5 years | ||
Minimum [Member] | Furniture and Equipment [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 5 years | ||
Minimum [Member] | Computer Equipment and Software [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 2 years | ||
Maximum [Member] | Accounting Standards Update 2022-02 [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Retained earnings | $ (4,000,000) | ||
Maximum [Member] | Buildings and Improvements [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 40 years | ||
Maximum [Member] | Furniture and Equipment [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 20 years | ||
Maximum [Member] | Computer Equipment and Software [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 7 years | ||
Total Consumer Related Loans [Member] | CARES Act [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Recorded investment modified under CARES Act | 0 | ||
Total Consumer Related Loans [Member] | Residential Mortgage Loans [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Loans in process of foreclosure amount | $ 124,000 | $ 102,000 | |
Consumer Borrower [Member] | Maximum [Member] | Subsequent Event [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Deposit | $ 18,000 | ||
Commercial Borrower [Member] | Maximum [Member] | Subsequent Event [Member] | |||
Summary of Significant Accounting Policies [Line Items] | |||
Deposit | $ 89,000 |
Summary Of Significant Accoun_5
Summary Of Significant Accounting Policies (Summary Of Changes In Mortgage Service Rights) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Summary Of Significant Accounting Policies [Abstract] | ||
Balance at beginning of year | $ 380 | $ 511 |
Originations of mortgage servicing rights | 6 | 39 |
Amortization expense | (107) | (266) |
Valuation allowance | 0 | 96 |
Balance at end of year | $ 279 | $ 380 |
Summary Of Significant Accoun_6
Summary Of Significant Accounting Policies (Schedule Of Computation Of Net Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Summary Of Significant Accounting Policies [Abstract] | ||
Net income available to shareholders | $ 20,092 | $ 14,659 |
Weighted average shares outstanding (basic) | 9,532 | 9,715 |
Effect of dilutive stock options | 28 | 38 |
Weighted average shares outstanding (diluted) | 9,560 | 9,753 |
Basic earnings per share | $ 2.11 | $ 1.51 |
Diluted earnings per share | $ 2.10 | $ 1.50 |
Anti-dilutive stock options excluded from the computation of earnings per share | 30 | 32 |
Summary Of Significant Accoun_7
Summary Of Significant Accounting Policies (Schedule Of Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Summary Of Significant Accounting Policies [Abstract] | ||
Cash paid during the period for: Income taxes | $ 410 | $ 6,146 |
Cash paid during the period for: Interest | 9,124 | 9,907 |
Noncash investing and financing activities: | ||
Transfer of loans to foreclosed real estate | 479 | 0 |
Transfer of loans to held for sale | 16,617 | 0 |
Transfer of premises and equipment to assets held for sale | 109 | 2,715 |
Initial recognition of operating lease right-of-use assets | 2,061 | 18 |
Initial recognition of operating lease liabilities | $ 2,061 | $ 18 |
Restrictions On Cash And Due _2
Restrictions On Cash And Due From Banks (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Restrictions On Cash And Due From Banks [Abstract] | ||
Compensating balances with correspondent banks | $ 65 | $ 65 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Income tax expense related to net investment security gains | $ 28 | $ 5 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Income tax expense related to net investment security gains | 28 | 5 |
U.S. Agency [Member] | Government-Guaranteed Collateral [Member] | Carrying Amount [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale securities pledged as collateral | $ 204,887 | $ 184,938 |
Securities (Summary Of Securiti
Securities (Summary Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | $ 390,922 | $ 254,493 |
Total debt securities, Gross Unrealized Gains | 80 | 2,564 |
Total debt securities, Gross Unrealized Losses | (45,545) | (2,772) |
Total debt securities, Fair Value | 345,457 | 254,285 |
U.S. Treasury Notes [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 19,688 | |
Total debt securities, Gross Unrealized Gains | 0 | |
Total debt securities, Gross Unrealized Losses | (588) | |
Total debt securities, Fair Value | 19,100 | |
U.S. Agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 12,750 | 3,500 |
Total debt securities, Gross Unrealized Gains | 0 | 0 |
Total debt securities, Gross Unrealized Losses | (1,470) | (104) |
Total debt securities, Fair Value | 11,280 | 3,396 |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 283,436 | 181,783 |
Total debt securities, Gross Unrealized Gains | 43 | 2,148 |
Total debt securities, Gross Unrealized Losses | (33,377) | (1,996) |
Total debt securities, Fair Value | 250,102 | 181,935 |
State And Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 35,517 | 36,319 |
Total debt securities, Gross Unrealized Gains | 37 | 250 |
Total debt securities, Gross Unrealized Losses | (6,155) | (413) |
Total debt securities, Fair Value | 29,399 | 36,156 |
Corporates [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total debt securities, Amortized Cost | 39,531 | 32,891 |
Total debt securities, Gross Unrealized Gains | 0 | 166 |
Total debt securities, Gross Unrealized Losses | (3,955) | (259) |
Total debt securities, Fair Value | $ 35,576 | $ 32,798 |
Securities (Schedule Of Gross R
Securities (Schedule Of Gross Realized Gains And Losses On Sales Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Securities [Abstract] | ||
Proceeds | $ 4,800 | $ 3,803 |
Gross gains | 0 | 24 |
Gross losses | $ (119) | $ (47) |
Securities (Schedule Of Amortiz
Securities (Schedule Of Amortized Cost And Estimated Fair Value Of Debt Securities) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Securities [Abstract] | ||
Due in one year or less, Available-for-sale, Amortized Cost | $ 2,761 | |
Due after one year through five years, Available-for-sale, Amortized Cost | 122,955 | |
Due after five years through ten years, Available-for-sale, Amortized Cost | 221,656 | |
Due after ten years, Available-for-sale, Amortized Cost | 43,550 | |
Total debt securities, Amortized Cost | 390,922 | $ 254,493 |
Due in one year or less, Available-for-sale, Fair Value | 2,732 | |
Due after one year through five years, Available-for-sale, Fair Value | 115,083 | |
Due after five years through ten years, Available-for-sale, Fair Value | 191,056 | |
Due after ten years, Available-for-sale, Fair Value | 36,586 | |
Total debt securities, Fair Value | $ 345,457 | $ 254,285 |
Securities (Schedule Of Gross U
Securities (Schedule Of Gross Unrealized Losses And Fair Value, Aggregated By Investment Category And Length Of Time) (Details) $ in Thousands | Dec. 31, 2022 USD ($) security | Dec. 31, 2021 USD ($) security |
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 175 | 99 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 181,047 | $ 152,009 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (13,356) | $ (2,368) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 130 | 8 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 151,532 | $ 15,607 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (32,167) | $ (404) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 305 | 107 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 332,579 | $ 167,616 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (45,523) | $ (2,772) |
U.S. Treasury Notes [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 4 | |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 19,100 | |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (588) | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 0 | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 0 | |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ 0 | |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 4 | |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 19,100 | |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (588) | |
U.S. Agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 7 | 2 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 7,594 | $ 3,396 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (656) | $ (104) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 3 | 0 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 3,685 | $ 0 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (814) | $ 0 |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 10 | 2 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 11,279 | $ 3,396 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (1,470) | $ (104) |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 147 | 62 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 140,409 | $ 112,395 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (11,071) | $ (1,665) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 72 | 5 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 102,061 | $ 12,373 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (22,284) | $ (331) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 219 | 67 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 242,470 | $ 124,768 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (33,355) | $ (1,996) |
State And Municipal [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 6 | 22 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 2,334 | $ 20,481 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (210) | $ (355) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 35 | 2 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 25,121 | $ 2,749 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (5,945) | $ (58) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 41 | 24 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 27,455 | $ 23,230 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (6,155) | $ (413) |
Corporates [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Number of Securities | security | 11 | 13 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Fair Value | $ 11,610 | $ 15,737 |
Total temporarily impaired debt securities, available-for-sale, Less than 12 months, Unrealized Losses | $ (831) | $ (244) |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Number of Securities | security | 20 | 1 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Fair Value | $ 20,665 | $ 485 |
Total temporarily impaired debt securities, available-for-sale, 12 months or more, Unrealized Losses | $ (3,124) | $ (15) |
Total temporarily impaired debt securities, available-for-sale, Total, Number of Securities | security | 31 | 14 |
Total temporarily impaired debt securities, available-for-sale, Total, Fair Value | $ 32,275 | $ 16,222 |
Total temporarily impaired debt securities, available-for-sale, Total, Unrealized Losses | $ (3,955) | $ (259) |
Loans (Narrative) (Details)
Loans (Narrative) (Details) | 12 Months Ended | |
Dec. 31, 2022 USD ($) item contract loan segment | Dec. 31, 2021 USD ($) loan contract item | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Maximum amount of commercial loans that use third-party credit scoring software models for risk rating purposes | $ 500,000 | |
Number of loan portfolio segments | segment | 2 | |
Number of loans modified under TDRs | contract | 0 | |
Number of loan defaults | loan | 0 | 0 |
Principal balance of outstanding loans to directors, executive officers, principal sharehoders and any associates of such persons | $ 11,041,000 | $ 9,516,000 |
Total additions to loans | 3,249,000 | |
Total repayments and reductions of loans | $ 1,724,000 | |
CARES Act [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of contracts modified under the CARES Act | contract | 0 | |
Commercial Real Estate Investor [Member] | CARES Act [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment modified under CARES Act | $ 33,352,000 | |
Number of contracts modified under the CARES Act | contract | 5 | |
Residential Mortgage [Member] | CARES Act [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment modified under CARES Act | $ 1,694,000 | |
Number of contracts modified under the CARES Act | contract | 2 | |
Troubled Debt Restructurings [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal balance of outstanding TDRs | $ 2,813,000 | $ 954,000 |
Allowances allocated to TDRs | 1,600,000 | 1,600,000 |
Commitments to lend additional amounts to TDRs | $ 0 | $ 0 |
Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 100% | 100% |
Number of industry concentrations exceeding 10% | item | 2 | 3 |
Lowest Risk [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of risk ratings used to grade commercial loans | item | 6 | |
Commercial Related Loans [Member] | Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 84.20% | 85.50% |
Commercial Related Loans [Member] | Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | Commercial Real Estate Investor [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 22.50% | 21.10% |
Commercial Related Loans [Member] | Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | Residential Real Estate Investor [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 16.10% | 14.80% |
Commercial Related Loans [Member] | Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | Builder & Developer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 7.90% | 10.20% |
Total Consumer Related Loans [Member] | CARES Act [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Recorded investment modified under CARES Act | $ 0 | |
Total Consumer Related Loans [Member] | Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 15.80% | 14.50% |
Total Consumer Related Loans [Member] | Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | Residential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 8.30% | 6.80% |
Minimum [Member] | Loan and Loan Receivable [Member] | Credit Concentration Risk [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 10% | 10% |
Loans (Schedule Of Loan Portfol
Loans (Schedule Of Loan Portfolio Composition) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 1,632,857 | $ 1,529,751 |
Service [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 73,094 | 65,163 |
Commercial Related Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 1,374,350 | 1,308,339 |
Commercial Related Loans [Member] | Builder & Developer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 128,327 | 156,462 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 367,366 | 322,887 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 263,262 | 227,017 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 94,471 | 70,254 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 60,672 | 76,340 |
Commercial Related Loans [Member] | Manufacturing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 86,593 | 72,720 |
Commercial Related Loans [Member] | Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 91,449 | 95,317 |
Commercial Related Loans [Member] | Service [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 73,094 | 65,163 |
Commercial Related Loans [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 209,116 | 222,179 |
Total Consumer Related Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 258,507 | 221,412 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 135,340 | 103,741 |
Total Consumer Related Loans [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 98,030 | 94,842 |
Total Consumer Related Loans [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 25,137 | $ 22,829 |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 100% | 100% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Service [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 4.50% | 4.30% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 84.20% | 85.50% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Builder & Developer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 7.90% | 10.20% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 22.50% | 21.10% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 16.10% | 14.80% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Hotel/Motel [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 5.80% | 4.60% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Wholesale & Retail [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 3.70% | 5% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Manufacturing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 5.30% | 4.80% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Agriculture [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 5.60% | 6.20% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Commercial Related Loans [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 12.80% | 14.50% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 15.80% | 14.50% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | Residential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 8.30% | 6.80% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | Home Equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 6% | 6.20% |
Credit Concentration Risk [Member] | Loan and Loan Receivable [Member] | Total Consumer Related Loans [Member] | Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
% Total Loans | 1.50% | 1.50% |
Loans (Summary Of Loan Risk Rat
Loans (Summary Of Loan Risk Ratings By Loan Class) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 1,632,857 | $ 1,529,751 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,591,337 | 1,438,118 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 10,088 | 10,206 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 20,462 | 47,845 |
Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 10,970 | 33,582 |
Service [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 73,094 | 65,163 |
Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,374,350 | 1,308,339 |
Commercial Related Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,333,777 | 1,217,358 |
Commercial Related Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 10,088 | 10,159 |
Commercial Related Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 20,321 | 47,835 |
Commercial Related Loans [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 10,164 | 32,987 |
Commercial Related Loans [Member] | Builder & Developer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 128,327 | 156,462 |
Commercial Related Loans [Member] | Builder & Developer [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 124,572 | 142,983 |
Commercial Related Loans [Member] | Builder & Developer [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,010 | 6,016 |
Commercial Related Loans [Member] | Builder & Developer [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 972 | 6,656 |
Commercial Related Loans [Member] | Builder & Developer [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,773 | 807 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 367,366 | 322,887 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 367,144 | 316,976 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 929 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 1,039 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 222 | 3,943 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 263,262 | 227,017 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 262,406 | 226,126 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 611 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 856 | 280 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 94,471 | 70,254 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 89,710 | 40,789 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,761 | 17,273 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 12,192 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 60,672 | 76,340 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 59,930 | 73,821 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 56 | 1,346 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 686 | 1,173 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial Related Loans [Member] | Manufacturing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 86,593 | 72,720 |
Commercial Related Loans [Member] | Manufacturing [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 81,552 | 67,544 |
Commercial Related Loans [Member] | Manufacturing [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,444 | 0 |
Commercial Related Loans [Member] | Manufacturing [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 632 | 51 |
Commercial Related Loans [Member] | Manufacturing [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,965 | 5,125 |
Commercial Related Loans [Member] | Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 91,449 | 95,317 |
Commercial Related Loans [Member] | Agriculture [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 87,896 | 90,226 |
Commercial Related Loans [Member] | Agriculture [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,260 | 80 |
Commercial Related Loans [Member] | Agriculture [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 381 | 714 |
Commercial Related Loans [Member] | Agriculture [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 912 | 4,297 |
Commercial Related Loans [Member] | Service [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 73,094 | 65,163 |
Commercial Related Loans [Member] | Service [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 68,373 | 57,667 |
Commercial Related Loans [Member] | Service [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 384 | 404 |
Commercial Related Loans [Member] | Service [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,337 | 6,121 |
Commercial Related Loans [Member] | Service [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 971 |
Commercial Related Loans [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 209,116 | 222,179 |
Commercial Related Loans [Member] | Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 192,194 | 201,226 |
Commercial Related Loans [Member] | Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,934 | 1,384 |
Commercial Related Loans [Member] | Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 8,552 | 14,197 |
Commercial Related Loans [Member] | Other [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,436 | 5,372 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 258,507 | 221,412 |
Total Consumer Related Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 257,560 | 220,760 |
Total Consumer Related Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 47 |
Total Consumer Related Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 141 | 10 |
Total Consumer Related Loans [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 806 | 595 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 135,340 | 103,741 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 134,850 | 103,669 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 141 | 10 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 349 | 62 |
Total Consumer Related Loans [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 98,030 | 94,842 |
Total Consumer Related Loans [Member] | Home Equity [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 97,573 | 94,358 |
Total Consumer Related Loans [Member] | Home Equity [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 47 |
Total Consumer Related Loans [Member] | Home Equity [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Total Consumer Related Loans [Member] | Home Equity [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 457 | 437 |
Total Consumer Related Loans [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 25,137 | 22,829 |
Total Consumer Related Loans [Member] | Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 25,137 | 22,733 |
Total Consumer Related Loans [Member] | Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Total Consumer Related Loans [Member] | Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Total Consumer Related Loans [Member] | Other [Member] | Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 0 | $ 96 |
Loans (Summary Of Impaired Loan
Loans (Summary Of Impaired Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | $ 9,400 | $ 28,348 |
Impaired Loans, With No Allowance, Unpaid Principal | 11,560 | 30,536 |
Impaired Loans, With A Related Allowance, Recorded Investment | 2,783 | 6,187 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 3,710 | 7,112 |
Impaired Loans, With A Related Allowance, Related Allowance | 2,484 | 4,058 |
Impaired Loans, Total, Recorded Investment | 12,183 | 34,535 |
Impaired Loans, Total, Unpaid Principal | 15,270 | 37,648 |
Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 7,831 | 27,753 |
Impaired Loans, With No Allowance, Unpaid Principal | 9,933 | 29,894 |
Impaired Loans, With A Related Allowance, Recorded Investment | 2,783 | 6,187 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 3,710 | 7,112 |
Impaired Loans, With A Related Allowance, Related Allowance | 2,484 | 4,058 |
Impaired Loans, Total, Recorded Investment | 10,614 | 33,940 |
Impaired Loans, Total, Unpaid Principal | 13,643 | 37,006 |
Commercial Related Loans [Member] | Builder & Developer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 1,901 | 991 |
Impaired Loans, With No Allowance, Unpaid Principal | 2,644 | 1,078 |
Impaired Loans, With A Related Allowance, Recorded Investment | 44 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 44 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 44 | 0 |
Impaired Loans, Total, Recorded Investment | 1,945 | 991 |
Impaired Loans, Total, Unpaid Principal | 2,688 | 1,078 |
Commercial Related Loans [Member] | Commercial Real Estate Investor [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 500 | 2,834 |
Impaired Loans, With No Allowance, Unpaid Principal | 500 | 2,854 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 1,878 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 1,878 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 1,464 |
Impaired Loans, Total, Recorded Investment | 500 | 4,712 |
Impaired Loans, Total, Unpaid Principal | 500 | 4,732 |
Commercial Related Loans [Member] | Residential Real Estate Investor [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 647 | 280 |
Impaired Loans, With No Allowance, Unpaid Principal | 665 | 438 |
Impaired Loans, With A Related Allowance, Recorded Investment | 209 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 215 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 152 | 0 |
Impaired Loans, Total, Recorded Investment | 856 | 280 |
Impaired Loans, Total, Unpaid Principal | 880 | 438 |
Commercial Related Loans [Member] | Hotel/Motel [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 0 | 12,192 |
Impaired Loans, With No Allowance, Unpaid Principal | 0 | 12,754 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 0 | 12,192 |
Impaired Loans, Total, Unpaid Principal | 0 | 12,754 |
Commercial Related Loans [Member] | Wholesale & Retail [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With No Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 0 | 0 |
Impaired Loans, Total, Unpaid Principal | 0 | 0 |
Commercial Related Loans [Member] | Manufacturing [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 2,783 | 5,125 |
Impaired Loans, With No Allowance, Unpaid Principal | 2,877 | 5,501 |
Impaired Loans, With A Related Allowance, Recorded Investment | 182 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 183 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 33 | 0 |
Impaired Loans, Total, Recorded Investment | 2,965 | 5,125 |
Impaired Loans, Total, Unpaid Principal | 3,060 | 5,501 |
Commercial Related Loans [Member] | Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 164 | 2,709 |
Impaired Loans, With No Allowance, Unpaid Principal | 210 | 2,893 |
Impaired Loans, With A Related Allowance, Recorded Investment | 748 | 1,588 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 930 | 1,784 |
Impaired Loans, With A Related Allowance, Related Allowance | 655 | 467 |
Impaired Loans, Total, Recorded Investment | 912 | 4,297 |
Impaired Loans, Total, Unpaid Principal | 1,140 | 4,677 |
Commercial Related Loans [Member] | Service [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With No Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 971 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 1,061 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 377 |
Impaired Loans, Total, Recorded Investment | 0 | 971 |
Impaired Loans, Total, Unpaid Principal | 0 | 1,061 |
Commercial Related Loans [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 1,836 | 3,622 |
Impaired Loans, With No Allowance, Unpaid Principal | 3,037 | 4,376 |
Impaired Loans, With A Related Allowance, Recorded Investment | 1,600 | 1,750 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 2,338 | 2,389 |
Impaired Loans, With A Related Allowance, Related Allowance | 1,600 | 1,750 |
Impaired Loans, Total, Recorded Investment | 3,436 | 5,372 |
Impaired Loans, Total, Unpaid Principal | 5,375 | 6,765 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 1,569 | 595 |
Impaired Loans, With No Allowance, Unpaid Principal | 1,627 | 642 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 1,569 | 595 |
Impaired Loans, Total, Unpaid Principal | 1,627 | 642 |
Total Consumer Related Loans [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 1,112 | 62 |
Impaired Loans, With No Allowance, Unpaid Principal | 1,115 | 64 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 1,112 | 62 |
Impaired Loans, Total, Unpaid Principal | 1,115 | 64 |
Total Consumer Related Loans [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 457 | 437 |
Impaired Loans, With No Allowance, Unpaid Principal | 512 | 474 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 457 | 437 |
Impaired Loans, Total, Unpaid Principal | 512 | 474 |
Total Consumer Related Loans [Member] | Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Allowance, Recorded Investment | 0 | 96 |
Impaired Loans, With No Allowance, Unpaid Principal | 0 | 104 |
Impaired Loans, With A Related Allowance, Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Unpaid Principal | 0 | 0 |
Impaired Loans, With A Related Allowance, Related Allowance | 0 | 0 |
Impaired Loans, Total, Recorded Investment | 0 | 96 |
Impaired Loans, Total, Unpaid Principal | $ 0 | $ 104 |
Loans (Summary Of Average Impai
Loans (Summary Of Average Impaired Loans And Related Interest Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | $ 16,638 | $ 32,566 |
Impaired Loans, With No Related Allowance, Total Interest Income | 861 | 306 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 5,720 | 6,552 |
Impaired Loans, With A Related Allowance, Total Interest Income | 13 | 78 |
Impaired Loans, Total, Average Recorded Investment | 22,358 | 39,118 |
Impaired Loans, Total, Total Interest Income | 874 | 384 |
Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 15,540 | 31,752 |
Impaired Loans, With No Related Allowance, Total Interest Income | 797 | 300 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 5,496 | 6,552 |
Impaired Loans, With A Related Allowance, Total Interest Income | 5 | 78 |
Impaired Loans, Total, Average Recorded Investment | 21,036 | 38,304 |
Impaired Loans, Total, Total Interest Income | 802 | 378 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 1,098 | 814 |
Impaired Loans, With No Related Allowance, Total Interest Income | 64 | 6 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 224 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 8 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,322 | 814 |
Impaired Loans, Total, Total Interest Income | 72 | 6 |
Builder & Developer [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 1,168 | 919 |
Impaired Loans, With No Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 605 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,773 | 919 |
Impaired Loans, Total, Total Interest Income | 0 | 0 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 2,494 | 1,431 |
Impaired Loans, With No Related Allowance, Total Interest Income | 22 | 45 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 376 | 376 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 2,870 | 1,807 |
Impaired Loans, Total, Total Interest Income | 22 | 45 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 502 | 1,302 |
Impaired Loans, With No Related Allowance, Total Interest Income | 27 | 72 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 127 | 1,044 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 17 |
Impaired Loans, Total, Average Recorded Investment | 629 | 2,346 |
Impaired Loans, Total, Total Interest Income | 27 | 89 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 4,854 | 12,443 |
Impaired Loans, With No Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 4,854 | 12,443 |
Impaired Loans, Total, Total Interest Income | 0 | 0 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 0 | 94 |
Impaired Loans, With No Related Allowance, Total Interest Income | 0 | 13 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 0 | 94 |
Impaired Loans, Total, Total Interest Income | 0 | 13 |
Manufacturing [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 4,139 | 7,025 |
Impaired Loans, With No Related Allowance, Total Interest Income | 37 | 19 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 37 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 5 | 0 |
Impaired Loans, Total, Average Recorded Investment | 4,176 | 7,025 |
Impaired Loans, Total, Total Interest Income | 42 | 19 |
Agriculture [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 1,219 | 3,334 |
Impaired Loans, With No Related Allowance, Total Interest Income | 534 | 125 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 766 | 1,202 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 1,985 | 4,536 |
Impaired Loans, Total, Total Interest Income | 534 | 125 |
Service [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 0 | 583 |
Impaired Loans, With No Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 388 | 388 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 388 | 971 |
Impaired Loans, Total, Total Interest Income | 0 | 0 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 584 | 56 |
Impaired Loans, With No Related Allowance, Total Interest Income | 19 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 224 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 8 | 0 |
Impaired Loans, Total, Average Recorded Investment | 808 | 56 |
Impaired Loans, Total, Total Interest Income | 27 | 0 |
Home Equity [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 459 | 561 |
Impaired Loans, With No Related Allowance, Total Interest Income | 30 | 0 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 459 | 561 |
Impaired Loans, Total, Total Interest Income | 30 | 0 |
Other [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 1,164 | 4,621 |
Impaired Loans, With No Related Allowance, Total Interest Income | 177 | 26 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 3,197 | 3,542 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 61 |
Impaired Loans, Total, Average Recorded Investment | 4,361 | 8,163 |
Impaired Loans, Total, Total Interest Income | 177 | 87 |
Other [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, With No Related Allowance, Average Recorded Investment | 55 | 197 |
Impaired Loans, With No Related Allowance, Total Interest Income | 15 | 6 |
Impaired Loans, With A Related Allowance, Average Recorded Investment | 0 | 0 |
Impaired Loans, With A Related Allowance, Total Interest Income | 0 | 0 |
Impaired Loans, Total, Average Recorded Investment | 55 | 197 |
Impaired Loans, Total, Total Interest Income | $ 15 | $ 6 |
Loans (Summary Of Past Due Loan
Loans (Summary Of Past Due Loans, Nonaccrual Loans And Current Loans By Loan Segment And Class) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 10,970 | $ 33,582 |
Total Past Due and Nonaccrual | 15,173 | 41,446 |
Total Loans | 1,632,857 | 1,529,751 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 4,067 | 6,071 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 136 | 1,469 |
Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 324 |
Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,617,684 | 1,488,305 |
Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 10,164 | 32,987 |
Total Past Due and Nonaccrual | 13,672 | 34,349 |
Total Loans | 1,374,350 | 1,308,339 |
Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 3,508 | 9 |
Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 1,029 |
Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 324 |
Commercial Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,360,678 | 1,273,990 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 806 | 595 |
Total Past Due and Nonaccrual | 1,501 | 7,097 |
Total Loans | 258,507 | 221,412 |
Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 559 | 6,062 |
Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 136 | 440 |
Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Total Consumer Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 257,006 | 214,315 |
Builder & Developer [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,773 | 807 |
Total Past Due and Nonaccrual | 5,273 | 807 |
Total Loans | 128,327 | 156,462 |
Builder & Developer [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 3,500 | 0 |
Builder & Developer [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Builder & Developer [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Builder & Developer [Member] | Commercial Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 123,054 | 155,655 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 222 | 3,943 |
Total Past Due and Nonaccrual | 222 | 4,755 |
Total Loans | 367,366 | 322,887 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 812 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 367,144 | 318,132 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 856 | 280 |
Total Past Due and Nonaccrual | 856 | 280 |
Total Loans | 263,262 | 227,017 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 262,406 | 226,737 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 12,192 |
Total Past Due and Nonaccrual | 0 | 12,192 |
Total Loans | 94,471 | 70,254 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 94,471 | 58,062 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Total Past Due and Nonaccrual | 0 | 183 |
Total Loans | 60,672 | 76,340 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 183 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 60,672 | 76,157 |
Manufacturing [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,965 | 5,125 |
Total Past Due and Nonaccrual | 2,965 | 5,125 |
Total Loans | 86,593 | 72,720 |
Manufacturing [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Manufacturing [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Manufacturing [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Manufacturing [Member] | Commercial Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 83,628 | 67,595 |
Agriculture [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 912 | 4,297 |
Total Past Due and Nonaccrual | 920 | 4,621 |
Total Loans | 91,449 | 95,317 |
Agriculture [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 8 | 0 |
Agriculture [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Agriculture [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 324 |
Agriculture [Member] | Commercial Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 90,529 | 90,696 |
Service [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 73,094 | 65,163 |
Service [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 971 |
Total Past Due and Nonaccrual | 0 | 971 |
Total Loans | 73,094 | 65,163 |
Service [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Service [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Service [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Service [Member] | Commercial Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 73,094 | 64,192 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 349 | 62 |
Total Past Due and Nonaccrual | 556 | 370 |
Total Loans | 135,340 | 103,741 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 207 | 0 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 308 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 134,784 | 103,371 |
Home Equity [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 457 | 437 |
Total Past Due and Nonaccrual | 896 | 630 |
Total Loans | 98,030 | 94,842 |
Home Equity [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 345 | 193 |
Home Equity [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 94 | 0 |
Home Equity [Member] | Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Home Equity [Member] | Total Consumer Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 97,134 | 94,212 |
Other [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 3,436 | 5,372 |
Total Past Due and Nonaccrual | 3,436 | 5,415 |
Total Loans | 209,116 | 222,179 |
Other [Member] | Commercial Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 9 |
Other [Member] | Commercial Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 34 |
Other [Member] | Commercial Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Other [Member] | Commercial Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 205,680 | 216,764 |
Other [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 96 |
Total Past Due and Nonaccrual | 49 | 6,097 |
Total Loans | 25,137 | 22,829 |
Other [Member] | Total Consumer Related Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 7 | 5,869 |
Other [Member] | Total Consumer Related Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 42 | 132 |
Other [Member] | Total Consumer Related Loans [Member] | Greater Than Or Equal To 90 Days Past Due And Accruing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 0 | 0 |
Other [Member] | Total Consumer Related Loans [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | $ 25,088 | $ 16,732 |
Loans (Summary Of Loans Modifie
Loans (Summary Of Loans Modified Under TDRs) (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 USD ($) contract | Dec. 31, 2021 contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of loans modified under TDRs | 0 | |
Commercial Related Loans [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of loans modified under TDRs | 2 | |
Recorded Investment at Period End | $ | $ 0 | |
Total Consumer Related Loans [Member] | Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of loans modified under TDRs | 2 | |
Recorded Investment at Period End | $ | $ 763 | |
Total Consumer Related Loans [Member] | Nonaccrual [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of loans modified under TDRs | 1 | |
Recorded Investment at Period End | $ | $ 0 |
Allowance For Loan Losses (Summ
Allowance For Loan Losses (Summary Of Allowance For Loan Losses By Loan Segment And Class) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | $ 22,782 | $ 21,264 |
Charge-offs | (6,555) | (2,319) |
Recoveries | 1,619 | 174 |
Provision | 2,890 | 3,663 |
Ending Balance | 20,736 | 22,782 |
Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 22,332 | 20,598 |
Charge-offs | (6,478) | (2,279) |
Recoveries | 1,565 | 116 |
Provision | 2,758 | 3,897 |
Ending Balance | 20,177 | 22,332 |
Total Consumer Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 451 | 644 |
Charge-offs | (77) | (40) |
Recoveries | 54 | 58 |
Provision | 131 | (211) |
Ending Balance | 559 | 451 |
Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | (1) | 22 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 1 | (23) |
Ending Balance | 0 | (1) |
Builder & Developer [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 2,408 | 2,034 |
Charge-offs | (423) | 0 |
Recoveries | 12 | 23 |
Provision | (228) | 351 |
Ending Balance | 1,769 | 2,408 |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 5,647 | 3,177 |
Charge-offs | (1,249) | 0 |
Recoveries | 1,249 | 0 |
Provision | (789) | 2,470 |
Ending Balance | 4,858 | 5,647 |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 3,493 | 3,944 |
Charge-offs | (52) | (241) |
Recoveries | 50 | 61 |
Provision | (678) | (271) |
Ending Balance | 2,813 | 3,493 |
Hotel/Motel [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 968 | 1,440 |
Charge-offs | (1,668) | 0 |
Recoveries | 179 | 0 |
Provision | 2,179 | (472) |
Ending Balance | 1,658 | 968 |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 1,989 | 2,416 |
Charge-offs | (41) | 0 |
Recoveries | 0 | 0 |
Provision | (1,460) | (427) |
Ending Balance | 488 | 1,989 |
Manufacturing [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 883 | 840 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 47 | 43 |
Ending Balance | 930 | 883 |
Agriculture [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 1,307 | 1,288 |
Charge-offs | (535) | 0 |
Recoveries | 40 | 0 |
Provision | 833 | 19 |
Ending Balance | 1,645 | 1,307 |
Service [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 981 | 457 |
Charge-offs | (763) | 0 |
Recoveries | 1 | 0 |
Provision | 845 | 524 |
Ending Balance | 1,064 | 981 |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 186 | 256 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision | 84 | (70) |
Ending Balance | 270 | 186 |
Home Equity [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 191 | 287 |
Charge-offs | (49) | (5) |
Recoveries | 27 | 3 |
Provision | 38 | (94) |
Ending Balance | 207 | 191 |
Other [Member] | Commercial Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 4,656 | 5,002 |
Charge-offs | (1,747) | (2,038) |
Recoveries | 34 | 32 |
Provision | 2,009 | 1,660 |
Ending Balance | 4,952 | 4,656 |
Other [Member] | Total Consumer Related Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 74 | 101 |
Charge-offs | (28) | (35) |
Recoveries | 27 | 55 |
Provision | 9 | (47) |
Ending Balance | $ 82 | $ 74 |
Allowance For Loan Losses (Su_2
Allowance For Loan Losses (Summary Of Allowance Amount For Loans Individually And Collectively Evaluated For Impairment) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | $ 2,484 | $ 4,058 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 18,252 | 18,724 | |
Allowance for Loan Losses, Balance | 20,736 | 22,782 | $ 21,264 |
Loans, Individually Evaluated For Impairment | 12,183 | 34,535 | |
Loans, Collectively Evaluated For Impairment | 1,620,674 | 1,495,216 | |
Loans, Balance | 1,632,857 | 1,529,751 | |
Commercial Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 2,484 | 4,058 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 17,693 | 18,274 | |
Allowance for Loan Losses, Balance | 20,177 | 22,332 | 20,598 |
Loans, Individually Evaluated For Impairment | 10,614 | 33,940 | |
Loans, Collectively Evaluated For Impairment | 1,363,736 | 1,274,399 | |
Loans, Balance | 1,374,350 | 1,308,339 | |
Total Consumer Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 559 | 451 | |
Allowance for Loan Losses, Balance | 559 | 451 | 644 |
Loans, Individually Evaluated For Impairment | 1,569 | 595 | |
Loans, Collectively Evaluated For Impairment | 256,938 | 220,817 | |
Loans, Balance | 258,507 | 221,412 | |
Unallocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 0 | (1) | |
Allowance for Loan Losses, Balance | 0 | (1) | 22 |
Loans, Individually Evaluated For Impairment | 0 | 0 | |
Loans, Collectively Evaluated For Impairment | 0 | 0 | |
Loans, Balance | 0 | 0 | |
Builder & Developer [Member] | Commercial Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 44 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 1,725 | 2,408 | |
Allowance for Loan Losses, Balance | 1,769 | 2,408 | 2,034 |
Loans, Individually Evaluated For Impairment | 1,945 | 991 | |
Loans, Collectively Evaluated For Impairment | 126,382 | 155,471 | |
Loans, Balance | 128,327 | 156,462 | |
Commercial Real Estate Investor [Member] | Commercial Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 1,464 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 4,858 | 4,183 | |
Allowance for Loan Losses, Balance | 4,858 | 5,647 | 3,177 |
Loans, Individually Evaluated For Impairment | 500 | 4,712 | |
Loans, Collectively Evaluated For Impairment | 366,866 | 318,175 | |
Loans, Balance | 367,366 | 322,887 | |
Residential Real Estate Investor [Member] | Commercial Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 152 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 2,661 | 3,493 | |
Allowance for Loan Losses, Balance | 2,813 | 3,493 | 3,944 |
Loans, Individually Evaluated For Impairment | 856 | 280 | |
Loans, Collectively Evaluated For Impairment | 262,406 | 226,737 | |
Loans, Balance | 263,262 | 227,017 | |
Hotel/Motel [Member] | Commercial Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 1,658 | 968 | |
Allowance for Loan Losses, Balance | 1,658 | 968 | 1,440 |
Loans, Individually Evaluated For Impairment | 0 | 12,192 | |
Loans, Collectively Evaluated For Impairment | 94,471 | 58,062 | |
Loans, Balance | 94,471 | 70,254 | |
Wholesale & Retail [Member] | Commercial Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 488 | 1,989 | |
Allowance for Loan Losses, Balance | 488 | 1,989 | 2,416 |
Loans, Individually Evaluated For Impairment | 0 | 0 | |
Loans, Collectively Evaluated For Impairment | 60,672 | 76,340 | |
Loans, Balance | 60,672 | 76,340 | |
Manufacturing [Member] | Commercial Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 33 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 897 | 883 | |
Allowance for Loan Losses, Balance | 930 | 883 | 840 |
Loans, Individually Evaluated For Impairment | 2,965 | 5,125 | |
Loans, Collectively Evaluated For Impairment | 83,628 | 67,595 | |
Loans, Balance | 86,593 | 72,720 | |
Agriculture [Member] | Commercial Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 655 | 467 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 990 | 840 | |
Allowance for Loan Losses, Balance | 1,645 | 1,307 | 1,288 |
Loans, Individually Evaluated For Impairment | 912 | 4,297 | |
Loans, Collectively Evaluated For Impairment | 90,537 | 91,020 | |
Loans, Balance | 91,449 | 95,317 | |
Service [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans, Balance | 73,094 | 65,163 | |
Service [Member] | Commercial Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 377 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 1,064 | 604 | |
Allowance for Loan Losses, Balance | 1,064 | 981 | 457 |
Loans, Individually Evaluated For Impairment | 0 | 971 | |
Loans, Collectively Evaluated For Impairment | 73,094 | 64,192 | |
Loans, Balance | 73,094 | 65,163 | |
Residential Mortgage [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 270 | 186 | |
Allowance for Loan Losses, Balance | 270 | 186 | 256 |
Loans, Individually Evaluated For Impairment | 1,112 | 62 | |
Loans, Collectively Evaluated For Impairment | 134,228 | 103,679 | |
Loans, Balance | 135,340 | 103,741 | |
Home Equity [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 207 | 191 | |
Allowance for Loan Losses, Balance | 207 | 191 | 287 |
Loans, Individually Evaluated For Impairment | 457 | 437 | |
Loans, Collectively Evaluated For Impairment | 97,573 | 94,405 | |
Loans, Balance | 98,030 | 94,842 | |
Other [Member] | Commercial Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 1,600 | 1,750 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 3,352 | 2,906 | |
Allowance for Loan Losses, Balance | 4,952 | 4,656 | 5,002 |
Loans, Individually Evaluated For Impairment | 3,436 | 5,372 | |
Loans, Collectively Evaluated For Impairment | 205,680 | 216,807 | |
Loans, Balance | 209,116 | 222,179 | |
Other [Member] | Total Consumer Related Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for Loan Losses, Individually Evaluated For Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated For Impairment | 82 | 74 | |
Allowance for Loan Losses, Balance | 82 | 74 | $ 101 |
Loans, Individually Evaluated For Impairment | 0 | 96 | |
Loans, Collectively Evaluated For Impairment | 25,137 | 22,733 | |
Loans, Balance | $ 25,137 | $ 22,829 |
Premises, Equipment And Lease_2
Premises, Equipment And Leases (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2022 contract property | |
Number of finance leases | contract | 1 |
Number of financial centers under finance leases | property | 1 |
Minimum [Member] | |
Lessee operating leases remaining lease terms | 1 year |
Maximum [Member] | |
Lessee operating leases remaining lease terms | 25 years |
Premises, Equipment And Lease_3
Premises, Equipment And Leases (Summary Of Premises And Equipment) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Premises, Equipment And Leases [Abstract] | ||
Land | $ 4,092 | $ 4,030 |
Buildings and improvements | 27,351 | 26,982 |
Financing lease right-of-use assets | 994 | 1,041 |
Equipment | 24,943 | 23,753 |
Total premises and equipment | 57,380 | 55,806 |
Less accumulated depreciation/amortization | (36,244) | (33,851) |
Premises and equipment, net | $ 21,136 | $ 21,955 |
Premises, Equipment And Lease_4
Premises, Equipment And Leases (Components Of Lease Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Components of Lease Expense [Abstract] | ||
Operating lease cost | $ 770 | $ 601 |
Finance lease cost: | ||
Amortization of right-of-use assets | 47 | 47 |
Interest on lease liability | 46 | 47 |
Total finance lease cost | 93 | 94 |
Total lease cost | $ 863 | $ 695 |
Premises, Equipment And Lease_5
Premises, Equipment And Leases (Supplemental Cash Flow Information Related To Leases) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Leases [Abstract] | ||
Operating cash flows from operating leases | $ 743 | $ 624 |
Operating cash flows from financing leases | 46 | 47 |
Financing cash flows from financing leases | 29 | 28 |
Right-of-use assets obtained in exchange for lease obligations: | ||
Operating leases | 2,061 | 18 |
Finance leases | $ 0 | $ 0 |
Premises, Equipment And Lease_6
Premises, Equipment And Leases (Supplemental Balance Sheet Information Related To Leases) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Assets: | ||
Operating leases right-of-use assets | $ 3,072 | $ 1,697 |
Finance leases assets | $ 994 | $ 1,041 |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Premises and equipment, net | Premises and equipment, net |
Total lease assets | $ 4,066 | $ 2,738 |
Liabilities: | ||
Operating | 3,204 | 1,803 |
Financing | $ 1,240 | $ 1,269 |
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Other Long-term Debt | Other Long-term Debt |
Total lease liabilities | $ 4,444 | $ 3,072 |
Weighted Average Remaining Lease Term (years) | ||
Operating leases | 6 years 10 months 24 days | 4 years 3 months 18 days |
Finance leases | 21 years 2 months 12 days | 22 years 2 months 12 days |
Weighted Average Discount Rate | ||
Operating leases | 2.14% | 2.58% |
Finance leases | 3.69% | 3.69% |
Premises, Equipment And Lease_7
Premises, Equipment And Leases (Future Minimum Payments For Financing Leases And Operating Leases) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Operating Leases | ||
2023 | $ 701 | |
2024 | 638 | |
2025 | 417 | |
2026 | 324 | |
2027 | 314 | |
Thereafter | 1,036 | |
Total lease payments | 3,430 | |
Less imputed interest | (226) | |
Total | 3,204 | $ 1,803 |
Finance Leases | ||
2023 | 75 | |
2024 | 75 | |
2025 | 79 | |
2026 | 80 | |
2027 | 80 | |
Thereafter | 1,429 | |
Total lease payments | 1,818 | |
Less imputed interest | (578) | |
Total | $ 1,240 | $ 1,269 |
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Other Long-term Debt | Other Long-term Debt |
Deposits (Narrative) (Details)
Deposits (Narrative) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Time deposits less than $100,000 brokered time deposits | $ 77 | $ 44 |
Time deposits $100,000 to $250,000 brokered time deposits | 1,396 | 2,154 |
Demand deposit overdrafts reclassified as loans | 122 | 55 |
Deposits, Total | 1,943,219 | 2,143,765 |
Board of Directors, Executive Officers, Principal Shareholders and Any Affiliates [Member] | ||
Deposits, Total | $ 4,768 | $ 6,854 |
Deposits (Schedule Of Compositi
Deposits (Schedule Of Composition Of Deposits) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Deposits [Abstract] | ||
Noninterest bearing demand | $ 463,853 | $ 524,609 |
Interest bearing demand | 289,298 | 261,945 |
Money market | 646,702 | 744,224 |
Savings | 161,228 | 151,272 |
Time deposits less than $100 | 210,331 | 247,398 |
Time deposits $100 to $250 | 123,002 | 151,377 |
Time deposits $250 or more | 48,805 | 62,940 |
Total deposits | $ 1,943,219 | $ 2,143,765 |
Deposits (Scheduled Maturities
Deposits (Scheduled Maturities Of Time Deposits) (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Deposits [Abstract] | |
2023 | $ 262,893 |
2024 | 82,904 |
2025 | 30,068 |
2026 | 3,744 |
2027 | 2,103 |
Thereafter | 426 |
Total time deposits | $ 382,138 |
Short-Term Borrowings And Lon_3
Short-Term Borrowings And Long-Term Debt (Narrative) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Dec. 31, 2020 | Jun. 30, 2006 | Nov. 30, 2004 | Dec. 31, 2022 | Dec. 31, 2021 | |
Securities sold under agreements to repurchase | $ 11,605,000 | $ 10,761,000 | |||
CVB Statutory Trust No. 2 [Member] | |||||
Pooled trust preferred debt issuance | $ 7,217,000 | ||||
CVB Statutory Trust No. 1 [Member] | |||||
Pooled trust preferred debt issuance | $ 3,093,000 | ||||
Estimated Fair Value [Member] | Collateral Pledged [Member] | Available-for-sale Securities [Member] | |||||
Securities sold under agreements to repurchase | 14,433,000 | 12,967,000 | |||
Federal Funds [Member] | |||||
Municipal deposit letters of credit | 13,000,000 | ||||
Subordinated Debenture [Member] | |||||
Debt instrument face amount | $ 31,000,000 | 31,000,000 | 31,000,000 | ||
Debt instrument redemption integral multiples amount | $ 10,000 | ||||
Debt instrument redemption start date | Dec. 09, 2025 | ||||
Debt instrument maturity date | Dec. 09, 2030 | ||||
Debt instrument interest rate | 4.50% | ||||
Debt instrument variable interest rate | 4.04% | ||||
Debt instrument redemption percentage prior to maturity date | 100% | ||||
Line Of Credit [Member] | |||||
Line of credit | $ 3,000,000 | ||||
Line of credit draws | 0 | 0 | |||
Line of credit balance | 0 | $ 0 | |||
FHLBP [Member] | Revolving Line Of Credit [Member] | |||||
Municipal deposit letters of credit | $ 676,626,000 | ||||
FHLBP [Member] | Revolving Line Of Credit [Member] | Maximum [Member] | |||||
Line of credit term | 364 days |
Short-term Borrowings And Lon_4
Short-term Borrowings And Long-Term Debt (Summary Of Aggregate Short-term Borrowings) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Short-term Debt [Line Items] | ||
Short-term borrowings, Amount outstanding at end of year | $ 11,605 | $ 10,761 |
Repurchase Agreements [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings, Amount outstanding at end of year | $ 11,605 | $ 10,761 |
Short-term borrowings, Weighted average interest rate at end of year | 0.40% | 0.40% |
Short-term borrowings, Maximum amount outstanding at any month-end | $ 14,249 | $ 13,393 |
Short-term borrowings, Daily average amount outstanding | $ 11,986 | $ 10,451 |
Short-term borrowings, Approximate weighted average interest rate for the year | 0.40% | 0.40% |
Other Short Term Borrowings [Member] | ||
Short-term Debt [Line Items] | ||
Short-term borrowings, Amount outstanding at end of year | $ 0 | $ 0 |
Short-term borrowings, Weighted average interest rate at end of year | 0% | 0% |
Short-term borrowings, Maximum amount outstanding at any month-end | $ 0 | $ 0 |
Short-term borrowings, Daily average amount outstanding | $ 0 | $ 0 |
Short-term borrowings, Approximate weighted average interest rate for the year | 0% | 0% |
Short-Term Borrowings And Lon_5
Short-Term Borrowings And Long-Term Debt (Summary Of Long-Term Debt) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Debt Instrument [Line Items] | ||
Total long-term debt | $ 42,314 | $ 52,262 |
Finance lease liabilities | $ 1,240 | $ 1,269 |
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Other Long-term Debt | Other Long-term Debt |
Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 41,074 | $ 40,993 |
FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 0 | 10,000 |
Due May 2022, 2.93% [Member] | FHLBP [Member] | Federal Home Loan Bank [Member] | PeoplesBank, A Codorus Valley Company [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 0 | $ 10,000 |
FHLBP due date | 2022-05 | |
Interest rate | 2.93% | 2.93% |
Due 2034, 6.79%, floating rate based on 3 month LIBOR plus 2.02%, callable quarterly [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 3,093 | $ 3,093 |
Interest rate | 6.79% | |
Long-term debt year due | 2034 | |
Due 2034, 6.79%, floating rate based on 3 month LIBOR plus 2.02%, callable quarterly [Member] | 3 Month LIBOR [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument variable interest rate | 2.02% | |
Due 2036, 5.62% floating rate based on 3 month LIBOR plus 1.54%, callable quarterly [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 7,217 | 7,217 |
Due 2036, 5.62% floating rate based on 3 month LIBOR plus 1.54%, callable quarterly [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Interest rate | 5.62% | |
Long-term debt year due | 2036 | |
Due 2036, 5.62% floating rate based on 3 month LIBOR plus 1.54%, callable quarterly [Member] | 3 Month LIBOR [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument variable interest rate | 1.54% | |
Due 2030, 4.50%, fixed rate, callable on or after December 2025 [Member] | Junior Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 30,764 | $ 30,683 |
Interest rate | 4.50% | |
Long-term debt year due | 2030 |
Short-Term Borrowings And Lon_6
Short-Term Borrowings And Long-Term Debt (Summary Of Long-Term Debt Maturities) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Short-Term Borrowings And Long-Term Debt [Abstract] | ||
Long-term debt maturities, 2023 | $ 75 | |
Long-term debt maturities, 2024 | 75 | |
Long-term debt maturities, 2025 | 79 | |
Long-term debt maturities, 2026 | 80 | |
Long-term debt maturities, 2027 | 80 | |
Long-term debt maturities, Thereafter | 41,925 | |
Total long-term debt | $ 42,314 | $ 52,262 |
Regulatory Matters (Narrative)
Regulatory Matters (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Regulatory Matters [Abstract] | |
Loans and advances by PeoplesBank to affiliates threshold | 10% |
Regulatory Matters (Schedule Of
Regulatory Matters (Schedule Of Risk-Based Capital Ratios And Leverage Ratios) (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Common equity Tier 1, Actual, Amount | $ 209,540 | $ 193,142 |
Common equity Tier 1, Minimum for Capital Adequacy, Amount | $ 121,871 | $ 111,612 |
Common equity Tier 1, Actual, Ratio | 0.1204 | 0.1211 |
Common equity Tier 1, Minimum for Capital Adequacy, Ratio | 0.0700 | 0.0700 |
Tier 1 risk based, Actual, Amount | $ 219,540 | $ 203,142 |
Tier 1 risk based, Minimum for Capital Adequacy, Amount | $ 147,986 | $ 135,529 |
Tier 1 risk based, Actual, Ratio | 0.1261 | 0.1274 |
Tier 1 risk based, Minimum for Capital Adequacy, Ratio | 0.0850 | 0.0850 |
Total risk based, Actual, Amount | $ 271,040 | $ 253,791 |
Total risk based, Minimum for Capital Adequacy, Amount | $ 182,806 | $ 167,418 |
Total risk based, Actual, Ratio | 0.1557 | 0.1592 |
Total risk based, Minimum for Capital Adequacy, Ratio | 0.1050 | 0.1050 |
Leverage, Actual, Amount | $ 219,540 | $ 203,142 |
Leverage, Minimum for Capital Adequacy, Amount | $ 89,863 | $ 94,596 |
Leverage, Actual, Ratio | 0.0977 | 0.0859 |
Leverage, Minimum for Capital Adequacy, Ratio | 0.0400 | 0.0400 |
Regulatory capital requirement, consolidated assets, benchmark | $ 3,000 | |
Capital convservation buffer percent | 2.50% | |
PeoplesBank, A Codorus Valley Company [Member] | ||
Common equity Tier 1, Actual, Amount | $ 245,896 | $ 230,162 |
Common equity Tier 1, Minimum for Capital Adequacy, Amount | 121,667 | 111,348 |
Common equity Tier 1, Well Capitalized Minimum, Amount | $ 112,976 | $ 103,395 |
Common equity Tier 1, Actual, Ratio | 0.1415 | 0.1447 |
Common equity Tier 1, Minimum for Capital Adequacy, Ratio | 0.0700 | 0.0700 |
Common equity Tier 1, Well Capitalized Minimum, Ratio | 0.0650 | 0.0650 |
Tier 1 risk based, Actual, Amount | $ 245,896 | $ 230,162 |
Tier 1 risk based, Minimum for Capital Adequacy, Amount | 147,738 | 135,208 |
Tier 1 risk based, Well Capitalized Minimum, Amount | $ 139,048 | $ 127,255 |
Tier 1 risk based, Actual, Ratio | 0.1415 | 0.1447 |
Tier 1 risk based, Minimum for Capital Adequacy, Ratio | 0.0850 | 0.0850 |
Tier 1 risk based, Well Capitalized Minimum, Ratio | 0.0800 | 0.0800 |
Total risk based, Actual, Amount | $ 266,632 | $ 250,081 |
Total risk based, Minimum for Capital Adequacy, Amount | 182,500 | 167,022 |
Total risk based, Well Capitalized Minimum, Amount | $ 173,810 | $ 159,069 |
Total risk based, Actual, Ratio | 0.1534 | 0.1572 |
Total risk based, Minimum for Capital Adequacy, Ratio | 0.1050 | 0.1050 |
Total risk based, Well Capitalized Minimum, Ratio | 0.1000 | 0.1000 |
Leverage, Actual, Amount | $ 245,896 | $ 230,162 |
Leverage, Minimum for Capital Adequacy, Amount | 89,705 | 94,457 |
Leverage, Well Capitalized Minimum, Amount | $ 112,131 | $ 118,071 |
Leverage, Actual, Ratio | 0.1096 | 0.0975 |
Leverage, Minimum for Capital Adequacy, Ratio | 0.0400 | 0.0400 |
Leverage, Well Capitalized Minimum, Ratio | 0.0500 | 0.0500 |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 31, 2023 | Jan. 31, 2022 | Aug. 31, 2021 | Jan. 31, 2021 | Mar. 31, 2020 | |
Class of Stock [Line Items] | ||||||||
Shares repurchased during the period | 1,535 | 465,434 | 5,335 | |||||
Shares repurchased average price per share | $ 22 | $ 21.22 | $ 16.37 | |||||
Maximum [Member] | March 2020 Share Repurchase Program [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Share repurchase program approved amount | $ 5 | |||||||
Maximum [Member] | January 2021 Share Repurchase Program [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Share repurchase program approved amount | $ 5 | |||||||
Maximum [Member] | August 2021 Share Repurchase Program [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Share repurchase program approved amount | $ 5 | |||||||
Maximum [Member] | January 2022 Share Repurchase Program [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Share repurchase program approved amount | $ 5 | |||||||
Subsequent Event [Member] | January 2023 Share Repurchase Program [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Share repurchase program approved amount | $ 5 |
Benefit Plans (Details)
Benefit Plans (Details) | 12 Months Ended | |
Dec. 31, 2022 USD ($) item | Dec. 31, 2021 USD ($) | |
Defined Contribution Plan Disclosure [Line Items] | ||
Number of deferred compensation plans related to directors and executives | item | 2 | |
Defined Contribution Plan [Member] | 401(K) Savings and Investment Plan [Member] | ||
Defined Contribution Plan Disclosure [Line Items] | ||
Company contribution of specific percentage of employee compensation contributed | 100% | 100% |
Percent of contribution eligible for match | 4% | 4% |
Expense for the 401(k) savings and investment plan | $ 769,000 | $ 757,000 |
Supplemental Defined Contribution Deferred Compensation Plan [Member] | ||
Defined Contribution Plan Disclosure [Line Items] | ||
Benefit plans expense | 91,000 | 71,000 |
Benefit plans interest expense | 13,800 | 4,300 |
Benefit plans accrued liability | 293,000 | 202,000 |
Supplemental Employee Retirement Plans, Defined Benefit [Member] | ||
Defined Contribution Plan Disclosure [Line Items] | ||
Benefit plans expense | 326,000 | 189,000 |
Benefit plans accrued liability | 4,256,000 | 4,297,000 |
Director's Post Retirement Split-Dollar Life Insurance Benefit [Member] | ||
Defined Contribution Plan Disclosure [Line Items] | ||
Benefit plans expense | 48,000 | 165,000 |
Benefit plans accrued liability | 665,000 | 714,000 |
Directors Deferred Compensation Plans [Member] | ||
Defined Contribution Plan Disclosure [Line Items] | ||
Benefit plans expense | 35,000 | 26,000 |
Benefit plans interest expense | 3,900 | 1,200 |
Benefit plans accrued liability | 119,000 | 86,000 |
Executives Deferred Compensation Plans [Member] | ||
Defined Contribution Plan Disclosure [Line Items] | ||
Benefit plans expense | 401,000 | 279,000 |
Benefit plans interest expense | 32,900 | 9,200 |
Benefit plans accrued liability | $ 1,039,000 | $ 638,000 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Statutory Federal tax rate | 21% | 21% |
Total unrecognized compensation cost related to non-vested options and restricted stock | $ 673 | |
Nonvested awards compensation cost expected to be recognized in 2021 | 457 | |
Nonvested awards compensation cost expected to be recognized in 2022 | 178 | |
Nonvested awards compensation cost expected to be recognized in 2023 | $ 38 | |
Cost expected to be recognized, weighted average period, years | 1 year | |
Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock awards granted | 47,609 | 37,199 |
2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based compensation award expiration period | 10 years | |
Share-based compensation award vesting period | 6 months | |
2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | Restricted Stock [Member] | First Year [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Percentage of shares vesting | 33.33% | 33.33% |
2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | Restricted Stock [Member] | Second Year [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Percentage of shares vesting | 33.33% | 33.33% |
2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | Restricted Stock [Member] | Third Year [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Percentage of shares vesting | 33.33% | 33.33% |
2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | Award Grant Date One[ Member] | Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock awards granted | 2,534 | 109 |
Percentage of shares vesting | 100% | |
Share-based compensation award vesting period | 3 years | |
2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | Award Grant Date Two [Member] | Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock awards granted | 1,289 | |
Percentage of shares vesting | 100% | |
Share-based compensation award vesting period | 4 years | |
2007 Long-Term Incentive Plan (07LTIP) and 2017 Long Term Incentive Plan (17LTIP) [Member] | Award Grant Date Three [Member] | Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock awards granted | 9,338.4 | |
Percentage of shares vesting | 100% | |
Share-based compensation award vesting period | 3 years | |
2007 Employee Stock Purchase Plan (ESPP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock purchase price as a percentage of fair market value | 85% | 85% |
Employee Stock Bonus Plan (ESBP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares of stock issued | 0 | 0 |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule Of Share Based Compensation Stock Plans) (Details) - shares | Dec. 31, 2022 | Dec. 31, 2021 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unvested options | 13,489 | 15,564 |
Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of outstanding awards | 120,268 | 148,654 |
Unvested options | 0 | 0 |
2007 Long Term Incentive Plan (07LTIP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares reserved | 90,518 | |
Number of outstanding awards | 90,518 | |
Number of shares available for future issuance | 0 | |
2017 Long Term Incentive Plan (17LTIP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares reserved | 340,032 | |
Number of outstanding awards | 141,434 | |
Number of shares available for future issuance | 198,598 | |
2017 Long Term Incentive Plan (17LTIP) [Member] | Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unvested options | 67,247 | |
2017 Long Term Incentive Plan (17LTIP) [Member] | Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unvested options | 13,489 | |
2007 Employee Stock Purchase Plan (ESPP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares reserved | 111,760 | |
Number of outstanding awards | 0 | |
Number of shares available for future issuance | 111,760 | |
Employee Stock Bonus Plan (ESBP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares reserved | 21,117 | |
Number of outstanding awards | 0 | |
Number of shares available for future issuance | 21,117 |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary Of Compensation Expense And Related Tax Benefits For Stock Option And Restricted Stock Awards) (Details) - Stock Option And Restricted Stock Awards [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Compensation expense | $ 925 | $ 721 |
Tax benefit | (194) | (151) |
Net income effect | $ 731 | $ 570 |
Stock-Based Compensation (Grant
Stock-Based Compensation (Granted Restricted Stock, Restricted Stock Units and Stock Awards) (Details) - shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock awards granted | 47,609 | 37,199 |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock awards granted | 2,134 | 15,564 |
Stock Award [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock awards granted | 5,957 | 7,490 |
Stock-Based Compensation (Sum_2
Stock-Based Compensation (Summary Of Stock Options Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Options, Granted | 0 | |
Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Options, Outstanding, Beginning Balance | 148,654 | |
Options, Granted | 0 | |
Options, Exercised | (26,245) | |
Options, Cancelled/Forfeited | (2,141) | |
Options, Expired | 0 | |
Options, Outstanding, Ending Balance | 120,268 | 148,654 |
Options, Vested and Exercisable | 120,268 | |
Weighted Average Exercise Price Per Share, Outstanding, Beginning Balance | $ 17.83 | |
Weighted Average Exercise Price Per Share, Granted | 0 | |
Weighted Average Exercise Price Per Share, Exercised | 13.66 | |
Weighted Average Exercise Price Per Share, Cancelled/Forfeited | 22.74 | |
Weighted Average Exercise Price Per Share, Expired | 0 | |
Weighted Average Exercise Price Per Share, Outstanding, Ending Balance | 18.65 | $ 17.83 |
Weighted Average Exercise Price Per Share, Vested and Exercisable | $ 18.65 | |
Weighted Average Remaining Contractual Term, Outstanding | 3 years 3 months 18 days | 4 years |
Weighted Average Remaining Contractual Term, Vested and Exercisable | 3 years 3 months 18 days | |
Aggregate Intrinsic Value, Outstanding | $ 654 | $ 638 |
Aggregate Intrinsic Value, Vested and Exercisable | $ 654 |
Stock-Based Compensation (Sch_2
Stock-Based Compensation (Schedule Of Stock Options Exercised) (Details) - Stock Options [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total intrinsic value of options exercised | $ 177 | $ 373 |
Cash received from options exercised | 392 | 139 |
Tax deduction realized from options exercised | $ 37 | $ 78 |
Stock-Based Compensation (Sum_3
Stock-Based Compensation (Summary Of Non-Vested Options And Restricted Stock) (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Non-vested Options, Beginning Balance | 15,564 | |
Non-vested Options, Vested | (2,075) | |
Non-vested Options, Cancelled/Forfeited | 0 | |
Non-vested Options, Granted | 0 | |
Non-vested Options, Ending Balance | 13,489 | 15,564 |
Non-vested Options, Weighted Average Exercise Price Per Share, Beginning Balance | $ 9.25 | |
Non-vested Options, Weighted Average Exercise Price Per Share, Vested | 23.13 | |
Non-vested Options, Weighted Average Exercise Price Per Share, Cancelled/Forfeited | 0 | |
Non-vested Options, Weighted Average Exercise Price Per Share, Granted | 0 | |
Non-vested Options, Weighted Average Exercise Price Per Share, Ending Balance | $ 7.12 | $ 9.25 |
Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Non-vested Options, Beginning Balance | 0 | |
Non-vested Options, Vested | 0 | |
Non-vested Options, Cancelled/Forfeited | 0 | |
Non-vested Options, Granted | 0 | |
Non-vested Options, Ending Balance | 0 | 0 |
Non-vested Options, Weighted Average Exercise Price Per Share, Beginning Balance | $ 0 | |
Non-vested Options, Weighted Average Exercise Price Per Share, Vested | 0 | |
Non-vested Options, Weighted Average Exercise Price Per Share, Cancelled/Forfeited | 0 | |
Non-vested Options, Weighted Average Exercise Price Per Share, Granted | 0 | |
Non-vested Options, Weighted Average Exercise Price Per Share, Ending Balance | $ 0 | $ 0 |
Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Non-vested Restricted Stock, Shares, Beginning Balance | 46,448 | |
Non-vested Restricted Stock, Shares, Vested | (20,332) | |
Non-vested Restricted Stock, Shares, Cancelled | (6,478) | |
Non-vested Restricted Stock, Shares, Granted | 47,609 | 37,199 |
Non-vested Restricted Stock, Shares, Ending Balance | 67,247 | 46,448 |
Non-vested Restricted Stock, Weighted Average Weighted Average Grant Date Fair Value, Beginning Balance | $ 19.62 | |
Non-vested Restricted Stock, Weighted Average Grant Date Fair Value, Vested | 20.24 | |
Non-vested Restricted Stock, Weighted Average Grant Date Fair Value, Cancelled | 21.30 | |
Non-vested Restricted Stock, Weighted Average Grant Date Fair Value, Granted | 21.97 | |
Non-vested Restricted Stock, Weighted Average Weighted Average Grant Date Fair Value, Ending Balance | $ 20.93 | $ 19.62 |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Non-vested Restricted Stock, Shares, Granted | 2,134 | 15,564 |
Stock-Based Compensation (Sch_3
Stock-Based Compensation (Schedule Of Employee Stock Purchase Plan) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
ESPP shares purchased | 13,543 | 17,308 |
Treasury Common Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares issued from authorized but unissued common stock to satisfy the purchase of ESPP shares | 13,543 | 17,308 |
Common Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares issued from authorized but unissued common stock to satisfy the purchase of ESPP shares | 0 | 0 |
2007 Employee Stock Purchase Plan (ESPP) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
ESPP shares purchased | 13,543 | 17,308 |
Average purchase price per share (85% of market value) | $ 18.781 | $ 15.836 |
Compensation expense recognized | $ 54 | $ 64 |
Average purchase price per share percentage of market value | 85% | 85% |
Income Taxes (Provision For Inc
Income Taxes (Provision For Income Taxes) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Taxes [Abstract] | ||
Current tax provision, Federal | $ 4,230 | $ 3,345 |
Current tax provision, State | 664 | 606 |
Total current tax provision | 4,894 | 3,951 |
Deferred tax expense (benefit), Federal | 614 | 9 |
Deferred tax expense (benefit), State | 48 | (32) |
Total deferred tax expense (benefit) | 662 | (23) |
Total tax provision | $ 5,556 | $ 3,928 |
Income Taxes (Summary Of Effect
Income Taxes (Summary Of Effective Income Tax Rate And The Federal Statutory Income Tax Rate) (Details) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Taxes [Abstract] | ||
Statutory tax rate | 21% | 21% |
Tax-exempt interest income | (0.80%) | (0.70%) |
Bank owned life insurance income | (1.00%) | (1.40%) |
State income taxes, net of federal tax benefit | 2.60% | 2.40% |
Other, net | (0.10%) | (0.20%) |
Effective income tax rate | 21.70% | 21.10% |
Income Taxes (Summary Of Deferr
Income Taxes (Summary Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Income Taxes [Abstract] | ||
Allowance for loan losses | $ 4,896 | $ 5,033 |
Deferred compensation | 1,655 | 1,460 |
Leasing | 1,049 | 725 |
Net unrealized losses on available-for-sale securities | 10,679 | 44 |
Other | 629 | 580 |
Total deferred tax assets | 18,908 | 7,842 |
Deferred loan fees | 750 | 369 |
Depreciation | 82 | 216 |
Leasing | 960 | 646 |
Acquisition accounting adjustments | 7 | 10 |
Other | 417 | 246 |
Total deferred tax liabilities | 2,216 | 1,487 |
Net deferred tax assets | $ 16,692 | $ 6,355 |
Commitments (Narrative) (Detail
Commitments (Narrative) (Details) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Minimum [Member] | ||
Fixed rate loan commitments interest rate | 4.50% | 1.86% |
Fixed rate loan commitments maturity period | 5 months | 1 year |
Maximum [Member] | ||
Fixed rate loan commitments interest rate | 8.75% | 5.99% |
Fixed rate loan commitments maturity period | 30 years | 30 years |
Commitments (Summary Of Outstan
Commitments (Summary Of Outstanding Commitments) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Standby Letters Of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Standby letters of credit | $ 23,601 | $ 14,688 |
Unfunded Commitments Of Existing Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate | 60,360 | 42,435 |
Variable rate | 564,003 | 466,567 |
Commitments To Grant Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate | 30,571 | 37,352 |
Variable rate | $ 17,494 | $ 44,383 |
Fair Value Of Assets And Liab_3
Fair Value Of Assets And Liabilities (Narrative) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Impaired loans, valuation allowances | $ 2,484,000 | $ 4,058,000 |
Foreclosed Real Estate [Member] | ||
Fair value of foreclosed real estate | 479,000 | 0 |
Foreclosed real estate, write-downs | 488,000 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | ||
Impaired loans | 2,742,000 | 3,142,000 |
Impaired loans, valuation allowances | 2,484,000 | 4,058,000 |
Impaired loans charge-offs | $ 1,916,000 | $ 957,000 |
Fair Value Of Assets And Liab_4
Fair Value Of Assets And Liabilities (Schedule Of Assets Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 345,457 | $ 254,285 |
Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 19,100 | |
Recurring [Member] | U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 11,280 | 3,396 |
Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 250,102 | 181,935 |
Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 29,399 | 36,156 |
Recurring [Member] | Corporates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 35,576 | 32,798 |
Recurring [Member] | Loan-Level Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other assets | 8 | (51) |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 19,100 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 19,100 | |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | Corporates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Recurring [Member] | Loan-Level Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other assets | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 326,357 | 254,285 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 11,280 | 3,396 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 250,102 | 181,935 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 29,399 | 36,156 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | Corporates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 35,576 | 32,798 |
(Level 2) Significant Other Observable Inputs [Member] | Recurring [Member] | Loan-Level Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other assets | 8 | (51) |
(Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | U.S. Treasury Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | U.S. Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | U.S. Agency Mortgage-Backed, Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | State And Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | Corporates [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | Recurring [Member] | Loan-Level Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other assets | $ 0 | $ 0 |
Fair Value Of Assets And Liab_5
Fair Value Of Assets And Liabilities (Schedule Of Assets Measured At Fair Value On Nonrecurring Basis) (Details) - Nonrecurring [Member] - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Impaired Builder And Developer Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 1,194 | $ 224 |
Impaired Residential Real Estate Investor Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 57 | 89 |
Impaired Commercial Real Estate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 414 | |
Impaired Agriculture Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 228 | 1,121 |
Impaired Service Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 594 | |
Impaired Manufacturing Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 150 | |
Impaired Other Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 1,114 | 700 |
Impaired Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 479 | |
Mortgage Servicing Rights [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 380 | |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Impaired Builder And Developer Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Impaired Residential Real Estate Investor Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Impaired Commercial Real Estate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Impaired Agriculture Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Impaired Service Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Impaired Manufacturing Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Impaired Other Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Impaired Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | |
(Level 2) Significant Other Observable Inputs [Member] | Impaired Builder And Developer Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Impaired Residential Real Estate Investor Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Impaired Commercial Real Estate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | |
(Level 2) Significant Other Observable Inputs [Member] | Impaired Agriculture Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Impaired Service Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | |
(Level 2) Significant Other Observable Inputs [Member] | Impaired Manufacturing Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | |
(Level 2) Significant Other Observable Inputs [Member] | Impaired Other Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | Impaired Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | |
(Level 2) Significant Other Observable Inputs [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 0 | |
(Level 3) Significant Other Unobservable Inputs [Member] | Impaired Builder And Developer Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 1,194 | 224 |
(Level 3) Significant Other Unobservable Inputs [Member] | Impaired Residential Real Estate Investor Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 57 | 89 |
(Level 3) Significant Other Unobservable Inputs [Member] | Impaired Commercial Real Estate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 414 | |
(Level 3) Significant Other Unobservable Inputs [Member] | Impaired Agriculture Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 228 | 1,121 |
(Level 3) Significant Other Unobservable Inputs [Member] | Impaired Service Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 594 | |
(Level 3) Significant Other Unobservable Inputs [Member] | Impaired Manufacturing Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 150 | |
(Level 3) Significant Other Unobservable Inputs [Member] | Impaired Other Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | 1,114 | 700 |
(Level 3) Significant Other Unobservable Inputs [Member] | Impaired Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 479 | |
(Level 3) Significant Other Unobservable Inputs [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 380 |
Fair Value Of Assets And Liab_6
Fair Value Of Assets And Liabilities (Schedule Of Level 3 Assets Measured At Fair Value On Nonrecurring Basis) (Details) - Nonrecurring [Member] - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Impaired Builder And Developer Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 1,194 | $ 224 |
Impaired Builder And Developer Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 1,194 | 224 |
Impaired Builder And Developer Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 1,194 | $ 224 |
Impaired Builder And Developer Loans [Member] | Minimum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 2% | 15% |
Impaired Builder And Developer Loans [Member] | Maximum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 22% | 15% |
Impaired Builder And Developer Loans [Member] | Weighted Average [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 5% | 15% |
Impaired Residential Real Estate Investor Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 57 | $ 89 |
Impaired Residential Real Estate Investor Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 57 | 89 |
Impaired Residential Real Estate Investor Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 57 | $ 89 |
Impaired Residential Real Estate Investor Loans [Member] | Minimum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 6% | 15% |
Impaired Residential Real Estate Investor Loans [Member] | Maximum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 10% | 15% |
Impaired Residential Real Estate Investor Loans [Member] | Weighted Average [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 8% | 15% |
Impaired Commercial Real Estate Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 414 | |
Impaired Commercial Real Estate Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 414 | |
Impaired Commercial Real Estate Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 414 | |
Impaired Commercial Real Estate Loans [Member] | Minimum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 15% | |
Impaired Commercial Real Estate Loans [Member] | Maximum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 15% | |
Impaired Commercial Real Estate Loans [Member] | Weighted Average [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 15% | |
Impaired Agriculture Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 228 | $ 1,121 |
Impaired Agriculture Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 228 | 1,121 |
Impaired Agriculture Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 228 | $ 1,121 |
Impaired Agriculture Loans [Member] | Minimum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 5% | 15% |
Impaired Agriculture Loans [Member] | Maximum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 13% | 20% |
Impaired Agriculture Loans [Member] | Weighted Average [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 9% | 18% |
Impaired Service Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 594 | |
Impaired Service Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 594 | |
Impaired Service Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 150 | $ 594 |
Impaired Service Loans [Member] | Minimum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 15% | |
Impaired Service Loans [Member] | Maximum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 15% | |
Impaired Service Loans [Member] | Weighted Average [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 15% | |
Impaired Other Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 1,114 | $ 700 |
Impaired Other Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 1,114 | 700 |
Impaired Other Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 1,114 | $ 700 |
Impaired Other Loans [Member] | Minimum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 0% | 15% |
Impaired Other Loans [Member] | Maximum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 25% | 15% |
Impaired Other Loans [Member] | Weighted Average [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 5% | 15% |
Impaired Other Real Estate Owned [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 479 | |
Impaired Other Real Estate Owned [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 479 | |
Impaired Other Real Estate Owned [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 479 | |
Impaired Other Real Estate Owned [Member] | Minimum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 0% | |
Impaired Other Real Estate Owned [Member] | Maximum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 25% | |
Impaired Other Real Estate Owned [Member] | Weighted Average [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 22% | |
Impaired Manufacturing Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 150 | |
Impaired Manufacturing Loans [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 150 | |
Impaired Manufacturing Loans [Member] | Minimum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 67% | |
Impaired Manufacturing Loans [Member] | Maximum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 67% | |
Impaired Manufacturing Loans [Member] | Weighted Average [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Appraisal Adjustments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 67% | |
Mortgage Servicing Rights [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 380 | |
Mortgage Servicing Rights [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 380 | |
Mortgage Servicing Rights [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Multiple Of Annual Service Fee [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 380 | |
Mortgage Servicing Rights [Member] | Minimum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Multiple Of Annual Service Fee [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 14.90% | |
Mortgage Servicing Rights [Member] | Maximum [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Multiple Of Annual Service Fee [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 14.90% | |
Mortgage Servicing Rights [Member] | Weighted Average [Member] | (Level 3) Significant Other Unobservable Inputs [Member] | Multiple Of Annual Service Fee [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Range | 14.90% |
Fair Value Of Assets And Liab_7
Fair Value Of Assets And Liabilities (Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale | $ 345,457 | $ 254,285 |
Subordinated debentures | 30,764 | 30,683 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 120,439 | 545,494 |
Securities available-for-sale | 345,457 | 254,285 |
Restricted investment in bank stocks | 955 | 1,311 |
Loans held for sale | 154 | 7,876 |
Loans, net | 1,612,121 | 1,506,969 |
Interest receivable | 6,624 | 4,562 |
Deposits | 1,943,219 | 2,143,765 |
Short-term borrowings | 11,605 | 10,761 |
Long-term debt | 10,310 | 20,310 |
Subordinated debentures | 30,764 | 30,683 |
Interest payable | 492 | 216 |
Off-balance sheet instruments | 0 | 0 |
Estimated Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 120,439 | 545,494 |
Securities available-for-sale | 345,457 | 254,285 |
Loans held for sale | 157 | 8,271 |
Loans, net | 1,503,440 | 1,498,388 |
Interest receivable | 6,624 | 4,562 |
Deposits | 1,932,689 | 2,143,187 |
Short-term borrowings | 11,605 | 10,761 |
Long-term debt | 10,165 | 18,999 |
Subordinated debentures | 29,145 | 32,578 |
Interest payable | 492 | 216 |
Off-balance sheet instruments | 0 | 0 |
(Level 1) Quoted Prices In Active Markets For Identical Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 120,439 | 545,494 |
Securities available-for-sale | 19,100 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 0 | 0 |
Interest receivable | 0 | 0 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term debt | 0 | 0 |
Subordinated debentures | 0 | 0 |
Interest payable | 0 | 0 |
Off-balance sheet instruments | 0 | 0 |
(Level 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Securities available-for-sale | 326,357 | 254,285 |
Loans held for sale | 157 | 8,271 |
Loans, net | 0 | 0 |
Interest receivable | 948 | 752 |
Deposits | 1,932,689 | 2,143,187 |
Short-term borrowings | 11,605 | 10,761 |
Long-term debt | 0 | 10,109 |
Subordinated debentures | 29,145 | 32,578 |
Interest payable | 492 | 216 |
Off-balance sheet instruments | 0 | 0 |
(Level 3) Significant Other Unobservable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Securities available-for-sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Loans, net | 1,503,440 | 1,498,388 |
Interest receivable | 5,676 | 3,810 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term debt | 10,165 | 8,890 |
Subordinated debentures | 0 | 0 |
Interest payable | 0 | 0 |
Off-balance sheet instruments | $ 0 | $ 0 |
Assets And Liabilities Subjec_3
Assets And Liabilities Subject To Offsetting (Schedule Of Securities Sold Under Agreements To Repurchase) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Offsetting Liabilities [Line Items] | ||
Repurchase Agreements, Gross Amounts of Recognized Liabilities | $ 11,605 | $ 10,761 |
Repurchase Agreements, Gross Amounts Offset in the Statements of Condition | 0 | 0 |
Repurchase Agreements, Net Amounts of Liabilities Presented in the Statements of Condition | 11,605 | 10,761 |
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Cash Collateral Pledged | 0 | 0 |
Repurchase Agreements, Net Amount | (2,162) | (1,507) |
U.S. Agency Mortgage-Backed, Residential [Member] | ||
Offsetting Liabilities [Line Items] | ||
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Financial Instruments | (13,767) | (12,268) |
U.S. Agency [Member] | ||
Offsetting Liabilities [Line Items] | ||
Repurchase Agreements, Gross amounts Not Offset in the Statements of Condition, Financial Instruments | $ 0 | $ 0 |
Interest Rate Swaps (Fair Value
Interest Rate Swaps (Fair Value, Notational Amount, And Collateral Posted Related To Loan-Level Interest Rate Swap) (Details) - Interest Rate Swap [Member] - Commercial Loan [Member] - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Derivative [Line Items] | ||
Fair Value | $ 8,000 | $ (51,000) |
Notional Amount | 5,992,000 | 7,266,000 |
Cash Collateral Posted | $ 0 | $ 0 |
Interest Rate Swaps (Gross Amou
Interest Rate Swaps (Gross Amounts Of Commercial Loan Swap Derivatives, Amounts Offset And Carrying Values In Consolidated Balance Sheets, And Collateral Pledged To Support Such Agreements) (Details) - Commercial Loan [Member] - Interest Rate Swap [Member] - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Derivative [Line Items] | ||
Gross amounts recognized | $ 8 | $ (51) |
Gross amounts offset | 8 | (51) |
Net amounts presented in the Consolidated Balance Sheets | 0 | 0 |
Gross amounts not offset: Financial instruments | 0 | 0 |
Gross amounts not offset: Cash Collateral | 0 | 0 |
Net amounts | $ 0 | $ 0 |
Condensed Financial Informati_3
Condensed Financial Information-Parent Company Only (Condensed Balance Sheets) (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Cash and due from banks | $ 20,662 | $ 19,850 | |
Premises and equipment, net | 21,136 | 21,955 | |
Other assets | 89,417 | 76,684 | |
Total assets | 2,195,052 | 2,418,572 | |
Long-term debt | 11,550 | 21,579 | |
Subordinated debentures | 30,764 | 30,683 | |
Other liabilities | 17,410 | 14,476 | |
Total liabilities | 2,017,752 | 2,223,067 | |
Shareholders' equity | 177,300 | 195,505 | $ 197,960 |
Total liabilities and shareholders' equity | 2,195,052 | 2,418,572 | |
Parent Company [Member] | |||
Cash and due from banks | 743 | 222 | |
Investment in bank subsidiary | 213,657 | 232,525 | |
Investment in other subsidiaries | 314 | 314 | |
Premises and equipment, net | 2,481 | 2,667 | |
Other assets | 1,337 | 879 | |
Total assets | 218,532 | 236,607 | |
Long-term debt | 10,310 | 10,310 | |
Subordinated debentures | 30,764 | 30,683 | |
Other liabilities | 158 | 109 | |
Total liabilities | 41,232 | 41,102 | |
Shareholders' equity | 177,300 | 195,505 | |
Total liabilities and shareholders' equity | $ 218,532 | $ 236,607 |
Condensed Financial Informati_4
Condensed Financial Information-Parent Company Only (Condensed Statements Of Income And Comprehensive Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Interest from investment securities | $ 7,455 | $ 3,300 |
Interest expense on long-term debt | 246 | 654 |
Interest expense on subordinated debentures | 1,846 | 1,670 |
Occupancy of premises, net | 3,848 | 3,540 |
Other | 5,205 | 4,698 |
Income before income taxes | 25,648 | 18,587 |
Applicable income tax benefit | (5,556) | (3,928) |
Net income | 20,092 | 14,659 |
Comprehensive income | (14,508) | 10,928 |
Parent Company [Member] | ||
Interest from investment securities | 11 | 6 |
Dividends from bank subsidiary | 5,255 | 4,800 |
Total income | 5,266 | 4,806 |
Interest expense on long-term debt | 370 | 193 |
Interest expense on subordinated debentures | 1,476 | 1,476 |
Occupancy of premises, net | 303 | 174 |
Other | 2,850 | 936 |
Total expense | 4,999 | 2,779 |
Income before income taxes | 267 | 2,027 |
Applicable income tax benefit | 1,093 | 657 |
Income before undistributed earnings of subsidiaries | 1,360 | 2,684 |
Equity in undistributed earnings of bank subsidiary | 18,732 | 11,975 |
Net income | 20,092 | 14,659 |
Comprehensive income | $ (14,508) | $ 10,928 |
Condensed Financial Informati_5
Condensed Financial Information-Parent Company Only (Condensed Statements Of Cash Flows) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Net income | $ 20,092 | $ 14,659 |
Amortization of subordinated debentures issuance fees | 81 | 81 |
Net cash provided by operating activities | 33,958 | 27,833 |
Purchases of premises and equipment | (1,841) | (2,032) |
Net cash used in investing activities | (244,607) | (61,384) |
Cash dividends paid to shareholders | (5,714) | (5,270) |
Treasury stock repurchased | (34) | (9,878) |
Net issuance of stock | (1,149) | (23) |
Net cash provided by (used in) financing activities | (214,406) | 243,252 |
Net (decrease) increase in cash and cash equivalents | (425,055) | 209,701 |
Cash and cash equivalents at beginning of year | 545,494 | |
Cash and cash equivalents at end of year | 120,439 | 545,494 |
Parent Company [Member] | ||
Net income | 20,092 | 14,659 |
Depreciation | 186 | 190 |
Amortization of subordinated debentures issuance fees | 81 | 81 |
Equity in undistributed earnings of subsidiaries, net | (18,732) | (11,975) |
Other, net | 570 | 323 |
Net cash provided by operating activities | 2,197 | 3,278 |
Additional investment from (in) bank subsidiary | 3,000 | (20,000) |
Purchases of premises and equipment | 0 | (16) |
Net cash used in investing activities | 3,000 | (20,016) |
Cash dividends paid to shareholders | (5,715) | (5,270) |
Treasury stock repurchased | (34) | (9,878) |
Net issuance of stock | 1,073 | 980 |
Net cash provided by (used in) financing activities | (4,676) | (14,168) |
Net (decrease) increase in cash and cash equivalents | 521 | (30,906) |
Cash and cash equivalents at beginning of year | 222 | 31,128 |
Cash and cash equivalents at end of year | $ 743 | $ 222 |