Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | Apr. 28, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | UWHARRIE CAPITAL CORP | |
Entity Central Index Key | 0000898171 | |
Entity Current Reporting Status | Yes | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Shell Company | false | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 7,035,758 | |
Entity File Number | 000-22062 | |
Entity Tax Identification Number | 56-1814206 | |
Entity Address, Address Line One | 132 NORTH FIRST STREET | |
Entity Address, City or Town | ALBEMARLE | |
Entity Address, State or Province | NC | |
Entity Address, Postal Zip Code | 28001 | |
City Area Code | 704 | |
Local Phone Number | 983-6181 | |
Entity Interactive Data Current | Yes | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Incorporation, State or Country Code | NC |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 5,144 | $ 6,301 |
Interest-earning deposits with banks | 91,916 | 82,567 |
Cash and cash equivalents | 97,060 | 88,868 |
Securities available for sale, at fair value | 190,083 | 191,513 |
Securities held to maturity, at amortized cost (fair value $28,818 and $29,600, respectively) | 27,802 | 28,207 |
Equity security, at fair value | 404 | 1,352 |
Loans held for sale | 14,213 | 6,959 |
Loans: | ||
Loans held for investment | 460,441 | 467,741 |
Less allowance for loan losses | (4,252) | (4,402) |
Net loans held for investment | 456,189 | 463,339 |
Premises and equipment, net | 16,698 | 16,982 |
Interest receivable | 2,344 | 2,524 |
Restricted stock | 921 | 1,166 |
Bank-owned life insurance | 8,968 | 8,936 |
Prepaid assets | 1,218 | 1,146 |
Loan servicing assets | 4,511 | 3,957 |
Mortgage interest rate lock commitments, at fair value | 2,108 | 2,073 |
Mortgage forward sales commitments | 623 | |
Other assets | 9,455 | 10,748 |
Total assets | 832,597 | 827,770 |
Deposits: | ||
Demand noninterest-bearing | 240,651 | 205,788 |
Interest checking and money market accounts | 347,962 | 381,502 |
Savings deposits | 82,336 | 74,792 |
Time deposits, $250,000 and over | 22,981 | 28,825 |
Other time deposits | 50,219 | 52,289 |
Total deposits | 744,149 | 743,196 |
Short-term borrowed funds | 1,338 | 710 |
Long-term debt | 11,242 | 10,992 |
Interest payable | 16 | 21 |
Mortgage forward sales commitments | 388 | |
Other liabilities | 16,026 | 13,226 |
Total liabilities | 772,771 | 768,533 |
Off balance sheet items, commitments and contingencies (Note 10) | ||
SHAREHOLDERS’ EQUITY | ||
Common stock, $1.25 par value: 20,000,000 shares authorized; shares issued and outstanding 7,039,942 and 7,052,143, at March 31, 2021 and December 31, 2020, respectively | 8,800 | 8,815 |
Additional paid-in capital | 12,539 | 12,607 |
Undivided profits | 27,444 | 23,000 |
Accumulated other comprehensive income | 388 | 4,160 |
Total Uwharrie Capital Corp shareholders’ equity | 49,171 | 48,582 |
Noncontrolling interest | 10,655 | 10,655 |
Total shareholders’ equity | 59,826 | 59,237 |
Total liabilities and shareholders’ equity | $ 832,597 | $ 827,770 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Statement Of Financial Position [Abstract] | ||
Securities held for sale, at amortized cost, fair value | $ 28,818 | $ 29,600 |
Common stock, par value | $ 1.25 | $ 1.25 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 7,039,942 | 7,052,143 |
Common stock, shares outstanding | 7,039,942 | 7,052,143 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Interest Income | ||
Loans, including fees | $ 6,062 | $ 4,553 |
Investment securities | ||
U.S. Treasury | 33 | |
U.S. Government agencies and corporations | 455 | 369 |
State and political subdivisions, non-taxable | 253 | 99 |
State and political subdivisions, taxable | 371 | 90 |
Interest-earning deposits with banks and federal funds sold | 16 | 552 |
Total interest income | 7,157 | 5,696 |
Interest Expense | ||
Interest checking and money market accounts | 91 | 298 |
Savings deposits | 15 | 21 |
Time deposits, $250,000 and over | 29 | 256 |
Other time deposits | 76 | 153 |
Short-term borrowed funds | 1 | 1 |
Long-term debt | 136 | 131 |
Total interest expense | 348 | 860 |
Net interest income | 6,809 | 4,836 |
Provision for (recovery of) loan losses | (34) | 632 |
Net interest income after provision for (recovery of) loan losses | 6,843 | 4,204 |
Noninterest Income | ||
Service charges on deposit accounts | 242 | 313 |
Gain on sale of securities | 940 | 58 |
Realized/unrealized gain (loss) on equity securities | (19) | 231 |
Income from mortgage banking | 5,106 | 1,065 |
Other income (expense) | (11) | 382 |
Total noninterest income | 7,107 | 3,006 |
Noninterest Expense | ||
Salaries and employee benefits | 5,389 | 4,424 |
Net occupancy expense | 426 | 415 |
Equipment expense | 172 | 183 |
Data processing costs | 165 | 158 |
Loan costs | 306 | 87 |
Foreclosed real estate expense | (7) | |
Professional fees and services | 236 | 194 |
Marketing and donations | 621 | 219 |
Electronic banking expense | 89 | 105 |
Software amortization and maintenance | 390 | 264 |
FDIC insurance | 71 | 17 |
Other noninterest expense | 280 | 738 |
Total noninterest expense | 8,145 | 6,797 |
Income before income taxes | 5,805 | 413 |
Income taxes | 1,222 | 85 |
Net income | 4,583 | 328 |
Less: net income attributable to noncontrolling interest | (139) | (141) |
Net income attributable to Uwharrie Capital Corp and common shareholders | $ 4,444 | $ 187 |
Net income per common share | ||
Basic | $ 0.63 | $ 0.03 |
Diluted | $ 0.63 | $ 0.03 |
Weighted average shares outstanding | ||
Basic | 7,050,790 | 7,209,107 |
Diluted | 7,050,790 | 7,209,107 |
Interchange and Card Transaction Fees, Net [Member] | ||
Noninterest Income | ||
Noninterest income fees | $ 219 | $ 192 |
Other Services and Commissions [Member] | ||
Noninterest Income | ||
Noninterest income fees | $ 630 | $ 765 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Statement Of Income And Comprehensive Income [Abstract] | ||
Net income | $ 4,583 | $ 328 |
Unrealized gain (loss) on available for sale securities | (3,959) | 2,141 |
Related tax effect | 937 | (490) |
Reclassification of gain recognized in net income | (940) | (58) |
Related tax effect | 190 | 11 |
Total other comprehensive income (loss) | (3,772) | 1,604 |
Comprehensive income | 811 | 1,932 |
Less: Comprehensive income attributable to noncontrolling interest | (139) | (141) |
Comprehensive income attributable to Uwharrie Capital Corp | $ 672 | $ 1,791 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Series B [Member] | Series C [Member] | Number of Common Shares Issued [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Undivided Profits [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] | Noncontrolling Interest [Member]Series B [Member] | Noncontrolling Interest [Member]Series C [Member] |
Beginning balance at Dec. 31, 2019 | $ 48,858 | $ 8,870 | $ 12,784 | $ 16,226 | $ 323 | $ 10,655 | |||||
Beginning balance, shares at Dec. 31, 2019 | 7,095,920 | ||||||||||
Net Income | 328 | 187 | 141 | ||||||||
Repurchase and retirement of common stock | (612) | (139) | (473) | ||||||||
Repurchase and retirement of common stock, shares | (111,338) | ||||||||||
Other comprehensive income (loss) | 1,604 | 1,604 | |||||||||
Record preferred stock dividend (noncontrolling interest) | $ (104) | $ (37) | $ (104) | $ (37) | |||||||
Ending balance at Mar. 31, 2020 | 50,037 | 8,731 | 12,311 | 16,413 | 1,927 | 10,655 | |||||
Ending balance, shares at Mar. 31, 2020 | 6,984,582 | ||||||||||
Beginning balance at Dec. 31, 2020 | 59,237 | 8,815 | 12,607 | 23,000 | 4,160 | 10,655 | |||||
Beginning balance, shares at Dec. 31, 2020 | 7,052,143 | ||||||||||
Net Income | 4,583 | 4,444 | 139 | ||||||||
Repurchase and retirement of common stock | (83) | (15) | (68) | ||||||||
Repurchase and retirement of common stock, shares | (12,201) | ||||||||||
Other comprehensive income (loss) | (3,772) | (3,772) | |||||||||
Record preferred stock dividend (noncontrolling interest) | $ (103) | $ (36) | $ (103) | $ (36) | |||||||
Ending balance at Mar. 31, 2021 | $ 59,826 | $ 8,800 | $ 12,539 | $ 27,444 | $ 388 | $ 10,655 | |||||
Ending balance, shares at Mar. 31, 2021 | 7,039,942 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities | ||
Net income | $ 4,583 | $ 328 |
Adjustments to reconcile net income to net cash used by operating activities: | ||
Depreciation and amortization | 271 | 285 |
Right of use asset amortization | 85 | 81 |
Provision for (recovery of) loan losses | (34) | 632 |
Gain on sale of securities available for sale | (940) | (58) |
Gain on sale of mortgage loans | 3,041 | 621 |
Gain on sale of OREO | (42) | |
OREO write-downs | 21 | |
Realized/unrealized (gain) loss on equity securities | 19 | (231) |
Net amortization of premium on investment securities available for sale | 174 | 98 |
Net amortization of premium on investment securities held to maturity | 39 | 26 |
Amortization of mortgage servicing rights | 383 | 187 |
Originations and purchases of mortgage loans for sale | (108,979) | (27,736) |
Proceeds from sales of mortgage loans for sale | 98,313 | 24,737 |
Mortgage interest rate lock commitments | (35) | |
Loan servicing assets | (938) | (373) |
Accrued interest receivable | 179 | (93) |
Prepaid assets | (72) | (653) |
Cash surrender value of life insurance | (32) | (36) |
Miscellaneous other assets | 2,056 | 1,151 |
Accrued interest payable | (5) | (17) |
Mortgage forward sales commitments | (1,011) | |
Miscellaneous other liabilities | 2,412 | (1,276) |
Net cash used by operating activities | (491) | (2,348) |
Cash flows from investing activities | ||
Proceeds from sales of investment securities available for sale | 34,237 | 7,586 |
Proceeds from sale of equity securities | 929 | |
Proceeds from maturities, calls and paydowns of securities available for sale | 4,505 | 1,471 |
Proceeds from maturities, calls and paydowns of securities held to maturity | 366 | 1,668 |
Purchase of investment securities available for sale | (41,445) | (26,694) |
Purchase of investment securities held to maturity | (4,064) | |
Purchase of equity securities | (901) | |
Proceeds from sales of investments in other assets | 1,125 | |
Net change in restricted stock | 245 | (22) |
Net (increase) decrease in loans | 7,184 | (10,288) |
Purchase of premises and equipment | (72) | (269) |
Proceeds from sale of OREO | 77 | |
Net cash provided (used) by investing activities | 7,074 | (31,436) |
Cash flows from financing activities | ||
Net increase in deposit accounts | 953 | 18,448 |
Net increase (decrease) in federal funds purchased and other short-term borrowings | 628 | (101) |
Proceeds from long-term borrowings | 250 | |
Repurchase of common stock, net | (83) | (612) |
Dividends paid on preferred stock (noncontrolling interest) | (139) | (141) |
Net cash provided by financing activities | 1,609 | 17,594 |
Increase (decrease) in cash and cash equivalents | 8,192 | (16,190) |
Cash and cash equivalents, beginning of period | 88,868 | 155,198 |
Cash and cash equivalents, end of period | 97,060 | 139,008 |
Supplemental disclosures of cash flow information | ||
Interest paid | 328 | 767 |
Supplemental schedule of non-cash activities | ||
Net change in fair value of securities available for sale, net of tax | $ 3,772 | $ 1,604 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | Note 1 – Basis of Presentation The financial statements and accompanying notes are presented on a consolidated basis including Uwharrie Capital Corp (the “Company”) and its subsidiaries, Uwharrie Bank (the “Bank”), Uwharrie Investment Advisors, Inc. (“UIA”), and Uwharrie Mortgage, Inc. The Bank consolidates its subsidiaries, the Strategic Alliance Corporation, BOS Agency, Inc. and Gateway Mortgage, Inc., each of which is wholly owned by the Bank. The information contained in the consolidated financial statements is unaudited. In the opinion of management, the consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and material adjustments necessary for a fair presentation of results of interim periods, all of which are of a normal recurring nature, have been made. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for an entire year. Management continues to evaluate the impact of COVID-19, the disease caused by the novel Coronavirus, beyond the current impacts as of March 31, 2021, which are discussed throughout the accompanying notes of this report. Management is not aware of additional economic events, outside influences or changes in concentrations of business that would require additional clarification or disclosure in the consolidated financial statements. The organization and business of the Company, accounting policies followed by the Company and other information are contained in the notes to consolidated financial statements filed as part of the Company’s 2020 Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on March 5, 2021. This Quarterly Report should be read in conjunction with such Annual Report. Use of Estimates The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of America (“GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. Accounting Changes, Reclassifications and Restatements Certain amounts in the 2020 financial statements have been reclassified to conform to the 2021 presentation. These reclassifications did not have an impact on net income or shareholders’ equity. |
Comprehensive Income
Comprehensive Income | 3 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
Comprehensive Income | Note 2 – Comprehensive Income The Company reports as comprehensive income all changes in shareholders’ equity during the year from sources other than shareholders. Other comprehensive income refers to all components (revenues, expenses, gains, and losses) of comprehensive income that are excluded from net income. The Company’s only component of other comprehensive income is unrealized gains and losses, net of income tax, on investment securities available for sale. The following table presents the changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2021 and 2020: For the Three Months Ended March 31, 2021 2020 (dollars in thousands) Beginning balance $ 4,160 $ 323 Other comprehensive income (loss) before reclassifications, net of $937 and ($490) tax effect, respectively (3,022 ) 1,651 Amounts reclassified from accumulated other comprehensive income, net of $190 and $11 tax effect, respectively (750 ) (47 ) Net current-period other comprehensive income (loss) (3,772 ) 1,604 Ending balance $ 388 $ 1,927 |
Noncontrolling Interest
Noncontrolling Interest | 3 Months Ended |
Mar. 31, 2021 | |
Noncontrolling Interest [Abstract] | |
Noncontrolling Interest | Note 3 – Noncontrolling Interest In 2013, the Company’s subsidiary bank issued a total of $10.7 million of Fixed Rate Noncumulative Perpetual Preferred Stock, Series B and Series C. The preferred stock qualifies as Tier 1 capital at the bank and pays dividends at an annual rate of 5.30%. The preferred stock has no voting rights. This capital is presented as noncontrolling interest in the consolidated balance sheets. Dividends declared on this preferred stock are presented as earnings allocated to the noncontrolling interest in the consolidated statements of income. |
Per Share Data
Per Share Data | 3 Months Ended |
Mar. 31, 2021 | |
Earnings Per Share [Abstract] | |
Per Share Data | Note 4 – Per Share Data Basic and diluted net income per common share is computed based on the weighted average number of shares outstanding during each period after retroactively adjusting for stock dividends. Diluted net income per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net income of the Company. The Company had no stock options outstanding at March 31, 2021 or December 31, 2020. Basic and diluted net income per common share have been computed based upon net income available to common shareholders as presented in the accompanying consolidated statements of income divided by the weighted average number of common shares outstanding or assumed to be outstanding. The weighted average number of common shares outstanding was 7,050,790 for the three-month period ended March 31, 2021 compared to 7,209,107 for the three-month period ended March 31, 2020. |
Investment and Equity Securitie
Investment and Equity Securities | 3 Months Ended |
Mar. 31, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Investment and Equity Securities | Note 5 – Investment and Equity Securities Carrying amounts and fair values of securities available for sale and held to maturity are summarized below: March 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Government agencies $ 43,768 $ 330 $ 30 $ 44,068 GSE - Mortgage-backed securities and CMO’s 48,363 322 336 48,349 Asset-backed securities 37,904 1,098 — 39,002 State and political subdivisions 55,636 634 1,743 54,527 Corporate bonds 3,908 229 — 4,137 Total securities available for sale $ 189,579 $ 2,613 $ 2,109 $ 190,083 March 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 247 $ 5 $ — $ 252 State and political subdivisions 17,555 879 — 18,434 Corporate bonds 10,000 136 4 10,132 Total securities held to maturity $ 27,802 $ 1,020 $ 4 $ 28,818 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Government agencies $ 36,804 $ 611 $ 26 $ 37,389 GSE - Mortgage-backed securities and CMO’s 39,720 1,844 68 41,496 Asset-backed securities 38,536 748 3 39,281 State and political subdivisions 67,148 2,107 91 69,164 Corporate bonds 3,902 281 — 4,183 Total securities available for sale $ 186,110 $ 5,591 $ 188 $ 191,513 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 459 $ 11 $ — $ 470 State and political subdivisions 17,748 1,382 — 19,130 Corporate bonds 10,000 — — 10,000 Total securities held to maturity $ 28,207 $ 1,393 $ — $ 29,600 At March 31, 2021 and December 31, 2020, the Company owned Federal Reserve Bank (FRB) stock reported at cost of $509,000 for both periods, and Federal Home Loan Bank (FHLB) stock reported at a cost of $411,000 and $657,000 at March 31, 2021 and December 31, 2020, respectively. The investments in FRB stock and FHLB stock are required investments related to the Company’s membership in, and borrowings with, these banks and is classified as restricted stock on the consolidated balance sheet. These investments are carried at cost since there is no ready market and redemption has historically been made at par value. The Company estimated that the fair value approximated cost and that these investments were not impaired at March 31, 2021. Results from sales of securities available for sale for the three-month periods ended March 31, 2021 and 2020 are as follows: Three Months Ended March 31, 2021 2020 (dollars in thousands) Gross proceeds from sales $ 34,237 $ 7,586 Realized gains from sales $ 1,454 $ 58 Realized losses from sales 514 — Net realized gains $ 940 $ 58 At March 31, 2021 and December 31, 2020, securities available for sale with a carrying amount of $71.0 million and $82.8 million, respectively, were pledged as collateral on public deposits and for other purposes as required or permitted by law. The following tables show the gross unrealized losses and fair value of investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2021 and December 31, 2020. We believe these unrealized losses on investment securities are a result of a volatile market and fluctuations in market prices due to a rise in interest rates, which will adjust if rates decline. Management does not believe these fluctuations are a reflection of the credit quality of the investments. At March 31, 2021, the unrealized losses on available for sale securities less than twelve months related to four government agency bonds, five government-sponsored enterprise (“GSE”) mortgage-backed securities and twenty-nine state and political subdivision bonds. There was one corporate held to maturity bond that had been in a loss position less than twelve months at March 31, 2021. At December 31, 2020, the unrealized losses on available for sale securities less than twelve months related to four government agency bonds, three GSE mortgage-backed securities, two asset-backed securities and ten state and political subdivision bonds. At March 31, 2021, the Company had two government agency bonds, two GSE mortgage-backed securities and two state and political subdivision bonds that had been in a loss position for twelve months or more. Less than 12 Months 12 Months or More Total March 31, 2021 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Government agencies $ 5,237 $ 19 $ 2,805 $ 11 $ 8,042 $ 30 GSE-Mortgage-backed securities and CMO’s 21,216 315 3,563 21 24,779 336 State and political subdivisions 38,709 1,679 1,414 64 40,123 1,743 Total securities available for sale $ 65,162 $ 2,013 $ 7,782 $ 96 $ 72,944 $ 2,109 Less than 12 Months 12 Months or More Total March 31, 2021 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities held to maturity temporary impairment U.S. Government agencies $ — $ — $ — $ — $ — $ — State and political subdivisions — — — — — — Corporate bonds 1,246 4 — — 1,246 4 Total securities held to maturity $ 1,246 $ 4 $ — $ — $ 1,246 $ 4 Less than 12 Months 12 Months or More Total December 31, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Government agencies $ 5,061 $ 26 $ — $ — $ 5,061 $ 26 GSE-Mortgage-backed securities and CMO’s 10,263 68 — — 10,263 68 Asset-backed securities 2,686 3 — — 2,686 3 State and political subdivisions 11,286 91 — — 11,286 91 Total securities available for sale $ 29,296 $ 188 $ — $ — $ 29,296 $ 188 Less than 12 Months 12 Months or More Total December 31, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities held to maturity temporary impairment U.S. Government agencies $ — $ — $ — $ — $ — $ — State and political subdivisions — — — — — — Corporate bonds — — — — — — Total securities held to maturity $ — $ — $ — $ — $ — $ — Declines in the fair value of the investment portfolio are believed by management to be temporary in nature. When evaluating an investment for other-than-temporary impairment, management considers, among other things, the length of time and the extent to which the fair value has been in a loss position, the financial condition of the issuer and the intent and the ability of the Company to hold the investment until the loss position is recovered. Any unrealized losses were largely due to increases in market interest rates over the yields available at the time of purchase. The fair value is expected to recover as the bonds approach their maturity date or market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of credit quality, but that the losses are temporary in nature. At March 31, 2021, the Company does not intend to sell and is not likely to be required to sell the available for sale securities that were in a loss position prior to full recovery. The following tables show contractual maturities of the investment portfolio as of March 31, 2021: March 31, 2021 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities available for sale U.S. Government agencies Due within twelve months $ 14,986 $ 15,088 1.49 % Due after one but within five years 4,004 4,103 1.80 % Due after five but within ten years 14,601 14,608 1.36 % Due after ten years 10,177 10,269 1.22 % 43,768 44,068 1.41 % Mortgage-backed securities Due after one but within five years 4,484 4,495 3.75 % Due after five but within ten years 15,934 16,046 0.91 % Due after ten years 27,945 27,808 0.93 % 48,363 48,349 1.18 % Asset-backed securities Due after ten years 37,904 39,002 1.29 % 37,904 39,002 1.29 % State and political subdivisions Due within twelve months 708 714 2.15 % Due after one but within five years 1,877 1,932 3.44 % Due after five but within ten years 1,594 1,527 2.10 % Due after ten years 51,457 50,354 2.28 % 55,636 54,527 2.31 % Corporate bonds Due after one but within five years 3,908 4,137 3.20 % 3,908 4,137 3.20 % Total securities available for sale Due within twelve months 15,694 15,802 1.52 % Due after one but within five years 14,273 14,667 3.01 % Due after five but within ten years 32,129 32,181 1.17 % Due after ten years 127,483 127,433 1.60 % $ 189,579 $ 190,083 1.63 % March 31, 2021 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities held to maturity U. S. Government agencies Due after one but within five years $ 247 $ 252 2.97 % 247 252 2.97 % State and political subdivisions Due within twelve months 1,369 1,375 2.06 % Due after one but within five years 2,724 2,796 2.64 % Due after ten years 13,462 14,263 3.45 % 17,555 18,434 3.22 % Corporate Bonds Due after five but within ten years 10,000 10,132 5.01 % 10,000 10,132 5.01 % Total securities held for maturity Due within twelve months 1,369 1,375 2.06 % Due after one but within five years 2,971 3,048 2.67 % Due after five but within ten years 10,000 10,132 5.01 % Due after ten years 13,462 14,263 3.45 % $ 27,802 $ 28,818 3.86 % The portion of unrealized gains and losses for the three-month periods ended March 31, 2021 and 2020 Three Months Ended March 31, 2021 2020 (dollars in thousands) Gross proceeds from sales $ 929 $ — Net gains (losses) recognized during the period on equity securities $ (19 ) $ 231 Less: Realized gains from equity securities sold during the period 298 — Unrealized gains (losses) from equity securities still held at the reporting date $ (317 ) $ 231 |
Loans Held for Investment
Loans Held for Investment | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Loans Held for Investment | Note 6 – Loans Held for Investment The composition of net loans held for investment by class as of March 31, 2021 and December 31, 2020 are as follows: March 31, 2021 December 31, 2020 (dollars in thousands) Commercial Commercial $ 63,329 $ 64,334 SBA Paycheck Protection Program (PPP) 76,504 76,398 Real estate - commercial 142,625 147,229 Other real estate construction loans 31,955 32,920 Other loans 2,966 3,098 Noncommercial Real estate 1-4 family construction 3,825 7,709 Real estate - residential 81,379 75,000 Home equity 49,411 51,615 Consumer loans 11,085 11,073 463,079 469,376 Less: Allowance for loan losses (4,252 ) (4,402 ) Deferred loan fees net (2,638 ) (1,635 ) Loans held for investment, net $ 456,189 $ 463,339 T he Paycheck Protection Program (“PPP”), which is administered by the Small Business Administration (“SBA”), was created as part of the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act. The Company participated in assisting its customers with applications for funds through the program. PPP loans have a two-year term or, if approved after June 5, 2020, a five-year term and earn interest at 1%. The Company believes that the majority of these loans will ultimately be forgiven by the SBA in accordance with the terms of the program. As of March 31, 2021, the Company had funded 1,202 PPP loans representing $81.0 million. Of the loans funded, 598 loans totaling $47.0 million had been paid off or forgiven by the SBA as of March 31, 2021. The Consolidated Appropriations Act, 2021, or CAA, established another round of PPP loan funding for certain eligible borrowers, and the Company has funded 672 PPP loans totaling $42.5 million under this additional round as of March 31, 2021. It is the Company’s understanding that loans funded through the PPP are fully guaranteed by the U.S. government. Should those circumstances change, the Company could be required to establish additional allowance for loan loss through additional provision expense charged to earnings. |
Allowance for Loan Losses
Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Allowance for Loan Losses | Note 7 – Allowance for Loan Losses The following tables show the change in the allowance for loan losses by loan segment for the three months ended March 31, 2021 and 2020, respectively: Commercial Three Months Ended March 31, 2021 2020 (dollars in thousands) Balance, beginning of period $ 2,753 $ 1,087 Provision for (recovery of) loan losses (87 ) 422 Charge-offs (118 ) (3 ) Recoveries 7 6 Net (charge-offs) recoveries (111 ) 3 Balance at end of period $ 2,555 $ 1,512 Non-Commercial Three Months Ended March 31, 2021 2020 (dollars in thousands) Balance, beginning of period $ 1,649 $ 894 Provision for loan losses 53 210 Charge-offs (20 ) (7 ) Recoveries 15 18 Net (charge-offs) recoveries (5 ) 11 Balance at end of period $ 1,697 $ 1,115 Total Three Months Ended March 31, 2021 2020 (dollars in thousands) Balance, beginning of period $ 4,402 $ 1,981 Provision for (recovery of) loan losses (34 ) 632 Charge-offs (138 ) (10 ) Recoveries 22 24 Net (charge-offs) recoveries (116 ) 14 Balance at end of period $ 4,252 $ 2,627 The following tables show period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at March 31, 2021 and December 31, 2020: March 31, 2021 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 98 $ 4,272 $ 2,457 $ 310,346 $ 2,555 $ 314,618 Non-Commercial 91 2,977 1,606 142,846 1,697 145,823 Total $ 189 $ 7,249 $ 4,063 $ 453,192 $ 4,252 $ 460,441 December 31, 2020 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 53 $ 5,237 $ 2,700 $ 317,094 $ 2,753 $ 322,331 Non-Commercial 94 2,917 1,555 142,493 1,649 145,410 Total $ 147 $ 8,154 $ 4,255 $ 459,587 $ 4,402 $ 467,741 Past due loan information is used by management when assessing the adequacy of the allowance for loan losses. The following tables summarize the past due information of the loan portfolio by class as of the dates indicated: March 31, 2021 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ — $ — $ — $ 63,329 $ 63,329 $ — SBA Paycheck Protection Program (PPP) — — — 73,743 73,743 — Real estate - commercial — 2,165 2,165 140,460 142,625 — Other real estate construction — — — 31,955 31,955 — Real estate 1-4 family construction — — — 3,825 3,825 — Real estate - residential 94 532 626 80,876 81,502 — Home equity 21 237 258 49,153 49,411 — Consumer loans 14 — 14 11,071 11,085 — Other loans — — — 2,966 2,966 — Total $ 129 $ 2,934 $ 3,063 $ 457,378 $ 460,441 $ — December 31, 2020 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ — $ — $ — $ 64,334 $ 64,334 $ — SBA Paycheck Protection Program (PPP) — — — 74,750 74,750 — Real estate - commercial — 2,076 2,076 145,153 147,229 — Other real estate construction 52 1,039 1,091 31,829 32,920 — Real estate 1-4 family construction — — — 7,709 7,709 — Real estate - residential 299 595 894 74,119 75,013 — Home equity — 48 48 51,567 51,615 — Consumer loan 46 — 46 11,027 11,073 — Other loans — — — 3,098 3,098 — Total $ 397 $ 3,758 $ 4,155 $ 463,586 $ 467,741 $ — Once a loan becomes 90 days past due, the loan is automatically transferred to a non-accrual status. The exception to this policy is credit card loans that remain in accruing status 90 days or more until they are paid current or charged off. The Company had $0 in foreclosed residential real estate and $0 of residential real estate in process of foreclosure at March 31, 2021. At December 31, 2020, the Company had $0 in foreclosed residential real estate and $51,000 of residential real estate in process of foreclosure. The composition of non-accrual loans by class as of March 31, 2021 and December 31, 2020 was as follows: March 31, 2021 December 31, 2020 (dollars in thousands) Commercial $ — $ — SBA Paycheck Protection Program (PPP) — — Real estate - commercial 2,165 2,076 Other real estate construction — 1,039 Real estate 1 – 4 family construction — — Real estate – residential 532 595 Home equity 237 48 Consumer loans — — Other loans — — $ 2,934 $ 3,758 Management uses a risk-grading program to facilitate the evaluation of probable inherent loan losses and to measure the adequacy of the allowance for loan losses. In this program, risk grades are initially assigned by the loan officers and reviewed and monitored by the lenders and credit administration. The program has eight risk grades summarized in five categories as follows: Pass : Loans that are pass grade credits include loans that are fundamentally sound, with risk factors that are reasonable and acceptable. They generally conform to policy with only minor exceptions; any major exceptions are clearly mitigated by other economic factors. Watch : Loans that are watch credits include loans on management’s watch list where a risk concern may be anticipated in the near future. Substandard : Loans that are considered substandard are loans that are inadequately protected by current sound net worth and paying capacity of the obligor or the value of the collateral pledged. All non-accrual loans are graded as substandard. Doubtful: Loans that are considered to be doubtful have all weaknesses inherent in loans classified substandard, plus the added characteristic that the weaknesses make the collection or liquidation in full on the basis of current existing facts, conditions and values highly questionable and improbable. Loss: Loans that are considered to be a loss are considered to be uncollectible and of such little value that their continuance as bankable assets is not warranted. The tables below summarize risk grades of the loan portfolio by class at March 31, 2021 and December 31, 2020: March 31, 2021 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 60,871 $ 2,282 $ 176 $ — $ 63,329 SBA Paycheck Protection Program (PPP) 73,743 — — — 73,743 Real estate - commercial 135,051 4,601 2,973 — 142,625 Other real estate construction 31,342 339 274 — 31,955 Real estate 1 - 4 family construction 3,825 — — — 3,825 Real estate - residential 78,889 1,894 719 — 81,502 Home equity 48,417 607 387 — 49,411 Consumer loans 11,016 17 52 — 11,085 Other loans 2,966 — — — 2,966 Total $ 446,120 $ 9,740 $ 4,581 $ — $ 460,441 December 31, 2020 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 61,828 $ 2,321 $ 185 $ — $ 64,334 SBA Paycheck Protection Program (PPP) 74,750 — — — 74,750 Real estate - commercial 143,222 1,113 2,894 — 147,229 Other real estate construction 31,263 344 1,313 — 32,920 Real estate 1 - 4 family construction 7,709 — — — 7,709 Real estate - residential 72,085 2,145 783 — 75,013 Home equity 50,661 661 293 — 51,615 Consumer loans 11,001 19 53 — 11,073 Other loans 3,098 — — — 3,098 Total $ 455,617 $ 6,603 $ 5,521 $ — $ 467,741 Loans that are in non-accrual status or 90 days past due and still accruing are considered to be nonperforming. At both March 31, 2021 and December 31, 2020 there were no loans 90 days past due and still accruing. The following tables show the breakdown between performing and nonperforming loans by class at March 31, 2021 and December 31, 2020: March 31, 2021 Performing Non- Performing Total (dollars in thousands) Commercial $ 63,329 $ — $ 63,329 SBA Paycheck Protection Program (PPP) 73,743 — 73,743 Real estate - commercial 140,460 2,165 142,625 Other real estate construction 31,955 — 31,955 Real estate 1 – 4 family construction 3,825 — 3,825 Real estate – residential 80,970 532 81,502 Home equity 49,174 237 49,411 Consumer loans 11,085 — 11,085 Other loans 2,966 — 2,966 Total $ 457,507 $ 2,934 $ 460,441 December 31, 2020 Performing Non- Performing Total (dollars in thousands) Commercial $ 64,334 $ — $ 64,334 SBA Paycheck Protection Program (PPP) 74,750 — 74,750 Real estate - commercial 145,153 2,076 147,229 Other real estate construction 31,881 1,039 32,920 Real estate 1 – 4 family construction 7,709 — 7,709 Real estate – residential 74,418 595 75,013 Home equity 51,567 48 51,615 Consumer loans 11,073 — 11,073 Other loans 3,098 — 3,098 Total $ 463,983 $ 3,758 $ 467,741 Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement. If a loan is deemed impaired, a specific calculation is performed and a specific reserve is allocated, if necessary. The tables below summarize the loans deemed impaired and the amount of specific reserves allocated by class at March 31, 2021 and December 31, 2020. March 31, 2021 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 651 $ — $ 651 $ 20 SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,621 2,075 1,546 78 Other real estate construction — — — — Real estate 1 - 4 family construction — — — — Real estate - residential 2,729 1,348 1,381 81 Home equity 237 204 33 10 Consumer loans 11 — 11 — Other loans Total $ 7,249 $ 3,627 $ 3,622 $ 189 December 31, 2020 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 651 $ — $ 651 $ 20 SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,547 2,076 1,471 33 Other real estate construction 1,039 1,039 — — Real estate 1 - 4 family construction — — — — Real estate - residential 2,856 1,416 1,440 84 Home equity 48 15 33 10 Consumer loans 13 — 13 — Other loans — — — — Total $ 8,154 $ 4,546 $ 3,608 $ 147 The table below shows interest income received on impaired loans by class for the three months ended March 31, 2021 and 2020. Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 651 $ 5 $ 82 $ — SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,621 24 3,598 29 Other real estate construction — — 3,848 43 Real estate 1- 4 family construction — — — — Real estate - residential 2,729 38 3,303 40 Home equity 237 1 124 1 Consumer loans 11 — 28 — Other loans — — — — Total $ 7,249 $ 68 $ 10,983 $ 113 |
Troubled Debt Restructures
Troubled Debt Restructures | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Troubled Debt Restructures | Note 8 – Troubled Debt Restructures A modification of a loan constitutes a troubled debt restructuring (“TDR”) when a borrower is experiencing financial difficulty and the modification involves providing a concession to the existing loan contract. The Company offers various types of concessions when modifying loans to troubled borrowers, however, forgiveness of principal is rarely granted. Concessions offered are term extensions, capitalizing accrued interest, reducing interest rates to below current market rates or a combination of any of these. Combinations from time to time may include allowing a customer to be placed on interest-only payments. The presentations below in the “other” category are TDRs with a combination of concessions. At the time of a TDR, additional collateral or a guarantor may be requested. Loans modified as TDRs are typically already on non-accrual status and in some cases, partial charge-offs may have already been taken against the outstanding loan balance. The Company classifies TDR loans as impaired loans and evaluates the need for an allowance for loan loss on a loan-by-loan basis. An allowance is based on either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price or the estimated fair value of the underlying collateral less any selling costs, if the loan is deemed to be collateral dependent. At both March 31, 2021 and December 31, 2020, the Company had $4.4 million in TDRs outstanding, of which one with a balance totaling $46,000 was on a non-accruing basis. There were no loans modified as TDRs during the first quarter of 2021. For the three months ended March 31, 2020, the following table presents a breakdown of the types of concessions made by loan class: For the three months ended March 31, 2020 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial 1 $ 41 $ 41 SBA Paycheck Protection Program (PPP) — — — Real estate - commercial — — — Other real estate construction 1 2,725 2,725 Real estate 1 – 4 family construction — — — Real estate – residential 2 335 332 Home equity — — — Consumer loans — — — Other loans — — — Total 4 $ 3,101 $ 3,098 During the twelve months ended March 31, 2021, there was one TDR for which there was a payment default. During the twelve months ended March 31, 2020, there were two TDRs for which there was a payment default. A default on a TDR is defined as being past due 90 days or being out of compliance with the modification agreement. As previously mentioned, the Company considers TDRs to be impaired loans and has $139,000 in the allowance for loan losses as of March 31, 2021, as a direct result of these TDRs. At March 31, 2020, there was $114,000 in the allowance for loan losses related to TDRs. The following table presents the status of the types of loans modified as TDRs within the previous twelve months as of March 31, 2021 and 2020: Paid In Full Paying as restructured Converted to non-accrual Foreclosure/ Default Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments (dollars in thousands) March 31, 2021 Below market interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 6 639 5 1,745 — — 1 41 Total 6 $ 639 5 $ 1,745 — $ — 1 $ 41 March 31, 2020 Below market interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — 1 221 — — — — Forgiveness of Principal/Other 1 37 6 3,094 1 46 — — Total 1 $ 37 7 $ 3,315 1 $ 46 — $ — The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, which was signed into law on March 27, 2020, allows the Company to suspend the TDR classifications described above in an effort to provide relief to borrowers impacted by COVID-19. The Consolidated Appropriations Act, 2021, or CAA, which was signed into law on December 27, 2020, extends the expiration of TDR suspensions as set forth in the CARES Act. The Company has elected to adopt this suspension until January 1, 2022 or 60 days after the national emergency terminates, per the CAA. Modifications of loans subsequent to March 1, 2020 for COVID-19 reasons, and that were current as of December 31, 2019, are not considered TDRs and are tracked internally as “COVID-19 Modifications” . The Company initially provided up to a three-month deferral period or conversion to interest-only repayment for up to three months. Additional extensions have been considered. Loans are reviewed on a case-by-case basis and the Company will generally work with borrowers that express an interest in the assistance program. As of March 31, 2021, the Company had three current outstanding modified loans with a recorded investment of $37,000. Of the loans currently under accommodation, one has entered payment deferral a second time. Additionally, 205 previously modified loans with outstanding balances totaling $55.3 million have come out of deferment. Of the loans removed from deferment, 30 with balances totaling $9.0 million were paid off, 172 loans totaling $46.2 million were out of accommodation and current at March 31, 2021 and three loans totaling $179,000 were removed due to noncompliance. As of March 31, 2021, the Company’s modifications of loans for COVID-19 related reasons are disclosed in the table below: Interest only Payment deferral Other Total COVID-19 modifications Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments (dollars in thousands) March 31, 2021 Commercial — $ — 1 $ 4 — $ — 1 $ 4 Real estate - commercial — — 1 27 — — 1 27 Other real estate construction — — — — — — — — Other loans — — — — — — — — Real estate – residential — — — — — — — — Home equity — — — — — — — — Consumer loans — — 1 6 — — 1 6 Total — — 3 37 — — 3 37 |
Leases
Leases | 3 Months Ended |
Mar. 31, 2021 | |
Lessee Disclosure [Abstract] | |
Leases | Note 9 - Leases Operating leases in which we are the lessee are recorded as operating lease right of use (“ROU”) assets and operating lease liabilities, included in premises and equipment and other liabilities, respectively, on our consolidated balance sheets. Operating lease ROU assets represent our right to use an underlying asset during the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents our incremental collateralized borrowing rate at the lease commencement date. ROU assets are further adjusted for the lease incentives. Operating lease expense, which is composed of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term and is recorded in the net occupancy expense in the consolidated statements of income. Our leases relate to three office locations, two of which are branch locations, with remaining terms of five to nine years. Certain lease arrangements contain extension options which range from five to ten years at the then fair market rental rates. As these extension options are not generally considered reasonably certain of exercise, they are not included in the lease term. As of March 31, 2021, operating lease ROU assets were $2.4 million and the lease liability was $2.5 million, compared to ROU assets of $1.9 million and a lease liability of $1.9 million at March 31, 2020. Lease costs associated with all leases was $99,000 and $96,000 for the three months ended March 31, 2021 and 2020, respectively. The table below summarizes other information related to our operating leases: Three Months Ended March 31, 2021 2020 (in thousands except percent and period data) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 96 $ 94 Right-of-use assets obtained in exchange for new operating lease liabilities 2,354 1,864 Weighted-average remaining lease term - operating leases, in years 6.6 7.4 Weighted-average discount rate - operating leases 2.45 % 2.90 % The table below summarizes the maturity of remaining lease liabilities: March 31, 2021 (in thousands) 2021 $ 293 2022 400 2023 408 2024 417 2025 427 2026 and thereafter 753 Total lease payments 2,698 Less: Interest (220 ) Present value of lease liabilities 2,478 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 10 - Commitments and Contingencies The Company’s subsidiary bank is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, lines of credit and standby letters of credit. These instruments involve elements of credit risk in excess of amounts recognized in the accompanying financial statements. The Bank’s risk of loss with unfunded loans and lines of credit or standby letters of credit is represented by the contractual amount of these instruments. The Bank uses the same credit policies in making commitments under such instruments as it does for on-balance sheet instruments. The amount of collateral obtained, if any, is based on management’s credit evaluation of the borrower. Collateral held varies, but may include accounts receivable, inventory, real estate and time deposits with financial institutions. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Credit card commitments are unsecured. At March 31, 2021 and December 31, 2020, outstanding financial instruments whose contract amounts represent credit risk were approximately: March 31, 2021 December 31, 2020 (dollars in thousands) Commitments to extend credit $ 143,254 $ 127,986 Credit card commitments 13,709 12,821 Standby letters of credit 8,071 8,277 Total commitments $ 165,034 $ 149,084 |
Fair Value Disclosures
Fair Value Disclosures | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures | Note 11 – Fair Value Disclosures Accounting Standards Codification (“ASC”) 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 does not require any new fair value measurements but clarifies and standardizes some divergent practices that have emerged since prior guidance was issued. ASC 820 creates a three-level hierarchy under which individual fair value estimates are to be ranked based on the relative ASC 820 defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which those assets or liabilities are sold and considers assumptions that market participants would use when pricing those assets or liabilities. Fair values determined using Level 1 inputs rely on active and observable markets to price identical assets or liabilities. In situations where identical assets and liabilities are not traded in active markets, fair values may be determined based on Level 2 inputs, which exist when observable data exists for similar assets and liabilities. Fair values for assets and liabilities for which identical or similar assets and liabilities are not actively traded in observable markets are based on Level 3 inputs, which are considered to be unobservable. Among the Company’s assets and liabilities, investment securities available for sale and mortgage banking derivatives are reported at their fair values on a recurring basis. Certain other assets are adjusted to their fair value on a nonrecurring basis, including other real estate owned, impaired loans, loans held for sale, which are carried at the lower of cost or market, and loan servicing rights, where fair value is determined using similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Deposits, short-term borrowings and long-term obligations are not reported at fair value. Prices for US Treasury and marketable equity securities are readily available in the active markets in which those securities are traded, and the resulting fair values are shown in the Level 1 input column. Prices for government agency securities, mortgage-backed securities, asset-backed securities and for state, county and municipal securities are obtained for similar securities, and the resulting fair values are shown in the Level 2 input column. Prices for all other non-marketable investments are determined based on various assumptions that are not observable. The fair values for these investment securities are shown in the Level 3 input column. Non-marketable investment securities, which are carried at their purchase price, include those that may only be redeemed by the issuer. The changes in securities between Level 1 and Level 2 were related to the purchase and sale of several securities and not the transfer of securities. Mortgage banking derivatives, which are comprised of interest rate lock commitments, or IRLCs, and mortgage forward sales commitments, are recorded at fair value on a recurring basis. Fair value of the IRLCs is based on projected pull-through rates, anticipated margins based on changes in market interest rates, and remaining origination costs to be incurred. The Company considers these to be Level 3 valuations. The fair value of mortgage forward sales commitments is based on the gain or loss that would occur if the Company were to pair-off the transaction at the measurement date and is considered to be a Level 2 input. The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment by using one of several methods including collateral value, fair value of similar debt or discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the present value of the expected repayments or fair value of collateral exceed the recorded investments in such loans. The Company typically bases the fair value of the collateral on appraised values which the Company considers Level 3 valuations. Foreclosed assets are adjusted to fair value upon transfer of the loans to other real estate owned. Real estate acquired in settlement of loans is recorded initially at the estimated fair value of the property less estimated selling costs at the date of foreclosure. The initial recorded value may be subsequently reduced by additional allowances, which are charged to earnings if the estimated fair value of the property less estimated selling costs declines below the initial recorded value. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. The Company typically bases the fair value of the collateral on appraised values, which the Company considers Level 3 valuations. Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate, based on secondary market prices. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. These loans are recorded in Level 2. The following tables provides fair value information for assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020: March 31, 2021 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Government agencies $ 44,068 $ — $ 44,068 $ — GSE - Mortgage-backed securities and CMO’s 48,349 — 48,349 — Asset-backed securities 39,002 — 39,002 — State and political subdivisions 54,527 — 54,527 — Corporate bonds 4,137 — 4,137 — Equity securities 404 404 — — Mortgage interest rate lock commitments 2,108 — — 2,108 Mortgage forward sales commitments 623 — 623 — Total assets at fair value on a recurring basis $ 193,218 $ 404 $ 190,706 $ 2,108 December 31, 2020 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Government agencies $ 37,389 $ — $ 37,389 $ — GSE - Mortgage-backed securities and CMO’s 41,496 — 41,496 — Asset-backed securities 39,281 — 39,281 — State and political subdivisions 69,164 — 69,164 — Corporate bonds 4,183 — 4,183 — Equity securities 1,352 1,352 — — Mortgage interest rate lock commitments 2,073 — — 2,073 Total assets at fair value on a recurring basis $ 194,938 $ 1,352 $ 191,513 $ 2,073 Mortgage forward sales commitments $ 388 $ — $ 388 $ — Total liabilities at fair value on a recurring basis $ 388 $ — $ 388 $ — The following table provides a rollforward for recurring Level 3 fair value measurements: March 31, 2021 (dollars in thousands) Mortgage interest rate lock commitments Total Balance at December 31, 2020 2,073 2,073 Change in fair value: Included in income from mortgage banking 35 35 Balance at March 31, 2021 2,108 2,108 The fair value of mortgage interest rate lock commitments at March 31, 2021 was calculated based on a notional amount of $63.9 million. Significant unobservable inputs are used to determine the fair value of these derivatives. For the three months ended March 31, 2021, such inputs include anticipated remaining costs associated with origination of the loan of 0.85% and a projected pull-through rate of 86.1%. The fair value of mortgage interest rate lock commitments at December 31, 2020 was calculated based on a notional amount of $69.0 million. Significant unobservable inputs included anticipated remaining costs associated with origination of the loan of 0.83% and a projected pull-through rate of 86.0% at December 31, 2020. The estimated net margin to be earned from loan sales is also applied in the calculation. Changes in interest rates and other assumptions could significantly change these estimated values. The Company may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with U.S. generally accepted accounting principles. These include assets that are measured at the lower of cost or market value that were recognized at fair value less cost to sell at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below as of March 31, 2021 and December 31, 2020: March 31, 2021 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,434 $ — $ — $ 3,434 Total assets at fair value on a nonrecurring basis $ 3,434 $ — $ — $ 3,434 December 31, 2020 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,461 $ — $ — $ 3,461 Total assets at fair value on a nonrecurring basis $ 3,461 $ — $ — $ 3,461 Quantitative Information about Level 3 Fair Value Measurements March 31, 2021 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount rates 4%-8.75% December 31, 2020 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount rates 4%-8.75% At March 31, 2021, impaired loans were being evaluated with discounted expected cash flows for performing TDRs and discounted appraisals were being used on collateral dependent loans. |
Fair Values of Financial Instru
Fair Values of Financial Instruments and Interest Rate Risk | 3 Months Ended |
Mar. 31, 2021 | |
Investments All Other Investments [Abstract] | |
Fair Values of Financial Instruments and Interest Rate Risk | Note 12 – ASC 825, “Disclosures about Fair Value of Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those that are not measured and reported at fair value on a recurring basis or non-recurring basis. The fair value estimates presented at March 31, 2021 and December 31, 2020 are based on relevant market information and information about the financial instruments. Fair value estimates are intended to represent the price an asset could be sold at or the price at which a liability could be settled. However, given there is no active market or observable market transactions for many of the Company’s financial instruments, the Company has made estimates of many of these fair values which are subjective in nature, involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimated values. The estimated fair values disclosed in the following table do not represent market values of all assets and liabilities of the Company and should not be interpreted to represent the underlying value of the Company. The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of March 31, 2021 and December 31, 2020: March 31, 2021 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 97,060 $ 97,062 $ 95,815 $ 1,247 $ — Securities available for sale 190,083 190,083 — 190,083 — Securities held to maturity 27,802 28,818 — 18,686 10,132 Equity securities 404 404 404 — — Loans held for investment, net 456,189 451,627 — — 451,627 Loans held for sale 14,213 14,213 — 14,213 — Restricted stock 921 921 921 — — Loan servicing rights 4,511 4,865 — 4,865 — Mortgage interest rate lock commitments 2,108 2,108 — — 2,108 Mortgage forward sales commitments 623 623 — 623 — Accrued interest receivable 2,344 2,344 — — 2,344 FINANCIAL LIABILITIES Deposits $ 744,149 $ 744,222 $ — $ 744,222 $ — Short-term borrowings 1,338 1,338 — 1,338 — Long-term borrowings 11,242 11,002 — — 11,002 Accrued interest payable 16 16 — — 16 December 31, 2020 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 88,868 $ 88,879 $ 87,623 $ 1,256 $ — Securities available for sale 191,513 191,513 — 191,513 — Securities held to maturity 28,207 29,600 — 19,664 9,936 Equity securities 1,352 1,352 1,352 — — Loans held for investment, net 463,339 458,706 — — 458,706 Loans held for sale 6,959 6,959 — 6,959 — Restricted stock 1,166 1,166 1,166 — — Loan servicing rights 3,957 4,054 — 4,054 — Mortgage interest rate lock commitments 2,073 2,073 — — 2,073 Accrued interest receivable 2,523 2,523 — — 2,523 FINANCIAL LIABILITIES Deposits $ 743,196 $ 743,378 $ — $ 743,378 $ — Short-term borrowings 710 710 — 710 — Long-term debt 10,992 10,909 — — 10,909 Mortgage forward sales commitments 388 388 — 388 — Accrued interest payable 21 21 — — 21 At March 31, 2021 the subsidiary bank had outstanding standby letters of credit and commitments to extend credit. These off-balance sheet financial instruments are generally exercisable at the market rate prevailing at the date the underlying transaction will be completed; therefore, the fair value is the fee the Bank is expected to receive. This amount is deemed immaterial by management. See Note 10. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Note 13 – Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in earlier recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. During 2019, the effective date was extended to fiscal years beginning on or after December 15, 2022 for public entities that qualify as smaller reporting companies, per the Securities and Exchange Commission definition, which currently includes the Company. Early adoption is permitted. Entities will apply the standard’s provisions as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We have entered into a contract to outsource our current model with a CECL-ready vendor. We are currently evaluating the various methods of determining credit losses within the software. The impact of the adoption is dependent on loan portfolio composition and credit quality at adoption date, as well as economic conditions and forecasts at that time. ASC 848, “Reference Rate Reform,” was set forth to eliminate certain reference rates and introduce new reference rates that are based on a larger, more liquid population of observable transactions that are less vulnerable to manipulation. The reference rate reform will discontinue the use of certain widely used reference rates such as the London Interbank Offered Rate, or LIBOR. In response to likely challenges arising from contract modifications due to reference rate reform, the FASB issued ASU 2020-04 in March 2020 to provide optional expedients and exceptions for applying GAAP to contract modifications. As such, modifications to debt contracts may be accounted for as a continuation of the existing contract by prospectively adjusting the effective interest rate. This amendment can be applied beginning March 12, 2020 and will sunset December 31, 2022. The Company currently holds loan contracts that reference LIBOR, and is evaluating the most effective manner in which to modify those contracts, but does not anticipate material financial impact. From time to time the FASB issues exposure drafts of proposed statements of financial accounting standards. Such exposure drafts are subject to comment from the public, to revisions by the FASB and to final issuance by the FASB as statements of financial accounting standards. Management considers the effect of the proposed statements on the consolidated financial statements of the Company and monitors the status of changes to and proposed effective dates of exposure drafts. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | The financial statements and accompanying notes are presented on a consolidated basis including Uwharrie Capital Corp (the “Company”) and its subsidiaries, Uwharrie Bank (the “Bank”), Uwharrie Investment Advisors, Inc. (“UIA”), and Uwharrie Mortgage, Inc. The Bank consolidates its subsidiaries, the Strategic Alliance Corporation, BOS Agency, Inc. and Gateway Mortgage, Inc., each of which is wholly owned by the Bank. The information contained in the consolidated financial statements is unaudited. In the opinion of management, the consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and material adjustments necessary for a fair presentation of results of interim periods, all of which are of a normal recurring nature, have been made. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for an entire year. Management continues to evaluate the impact of COVID-19, the disease caused by the novel Coronavirus, beyond the current impacts as of March 31, 2021, which are discussed throughout the accompanying notes of this report. Management is not aware of additional economic events, outside influences or changes in concentrations of business that would require additional clarification or disclosure in the consolidated financial statements. The organization and business of the Company, accounting policies followed by the Company and other information are contained in the notes to consolidated financial statements filed as part of the Company’s 2020 Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on March 5, 2021. This Quarterly Report should be read in conjunction with such Annual Report. |
Use of Estimates | Use of Estimates The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of America (“GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. |
Accounting Changes, Reclassifications and Restatements | Accounting Changes, Reclassifications and Restatements Certain amounts in the 2020 financial statements have been reclassified to conform to the 2021 presentation. These reclassifications did not have an impact on net income or shareholders’ equity. |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (loss) | The following table presents the changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2021 and 2020: For the Three Months Ended March 31, 2021 2020 (dollars in thousands) Beginning balance $ 4,160 $ 323 Other comprehensive income (loss) before reclassifications, net of $937 and ($490) tax effect, respectively (3,022 ) 1,651 Amounts reclassified from accumulated other comprehensive income, net of $190 and $11 tax effect, respectively (750 ) (47 ) Net current-period other comprehensive income (loss) (3,772 ) 1,604 Ending balance $ 388 $ 1,927 |
Investment and Equity Securit_2
Investment and Equity Securities (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Carrying Amounts and Fair Values of Securities Available for Sale and Held to Maturity | Carrying amounts and fair values of securities available for sale and held to maturity are summarized below: March 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Government agencies $ 43,768 $ 330 $ 30 $ 44,068 GSE - Mortgage-backed securities and CMO’s 48,363 322 336 48,349 Asset-backed securities 37,904 1,098 — 39,002 State and political subdivisions 55,636 634 1,743 54,527 Corporate bonds 3,908 229 — 4,137 Total securities available for sale $ 189,579 $ 2,613 $ 2,109 $ 190,083 March 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 247 $ 5 $ — $ 252 State and political subdivisions 17,555 879 — 18,434 Corporate bonds 10,000 136 4 10,132 Total securities held to maturity $ 27,802 $ 1,020 $ 4 $ 28,818 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Government agencies $ 36,804 $ 611 $ 26 $ 37,389 GSE - Mortgage-backed securities and CMO’s 39,720 1,844 68 41,496 Asset-backed securities 38,536 748 3 39,281 State and political subdivisions 67,148 2,107 91 69,164 Corporate bonds 3,902 281 — 4,183 Total securities available for sale $ 186,110 $ 5,591 $ 188 $ 191,513 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 459 $ 11 $ — $ 470 State and political subdivisions 17,748 1,382 — 19,130 Corporate bonds 10,000 — — 10,000 Total securities held to maturity $ 28,207 $ 1,393 $ — $ 29,600 |
Sales of Securities Available for Sale | Results from sales of securities available for sale for the three-month periods ended March 31, 2021 and 2020 are as follows: Three Months Ended March 31, 2021 2020 (dollars in thousands) Gross proceeds from sales $ 34,237 $ 7,586 Realized gains from sales $ 1,454 $ 58 Realized losses from sales 514 — Net realized gains $ 940 $ 58 |
Gross Unrealized Losses and Fair Value of Investments | Less than 12 Months 12 Months or More Total March 31, 2021 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Government agencies $ 5,237 $ 19 $ 2,805 $ 11 $ 8,042 $ 30 GSE-Mortgage-backed securities and CMO’s 21,216 315 3,563 21 24,779 336 State and political subdivisions 38,709 1,679 1,414 64 40,123 1,743 Total securities available for sale $ 65,162 $ 2,013 $ 7,782 $ 96 $ 72,944 $ 2,109 Less than 12 Months 12 Months or More Total March 31, 2021 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities held to maturity temporary impairment U.S. Government agencies $ — $ — $ — $ — $ — $ — State and political subdivisions — — — — — — Corporate bonds 1,246 4 — — 1,246 4 Total securities held to maturity $ 1,246 $ 4 $ — $ — $ 1,246 $ 4 Less than 12 Months 12 Months or More Total December 31, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Government agencies $ 5,061 $ 26 $ — $ — $ 5,061 $ 26 GSE-Mortgage-backed securities and CMO’s 10,263 68 — — 10,263 68 Asset-backed securities 2,686 3 — — 2,686 3 State and political subdivisions 11,286 91 — — 11,286 91 Total securities available for sale $ 29,296 $ 188 $ — $ — $ 29,296 $ 188 Less than 12 Months 12 Months or More Total December 31, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities held to maturity temporary impairment U.S. Government agencies $ — $ — $ — $ — $ — $ — State and political subdivisions — — — — — — Corporate bonds — — — — — — Total securities held to maturity $ — $ — $ — $ — $ — $ — |
Amortized Cost and Fair Value of Available for Sale Securities Portfolio | The following tables show contractual maturities of the investment portfolio as of March 31, 2021: March 31, 2021 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities available for sale U.S. Government agencies Due within twelve months $ 14,986 $ 15,088 1.49 % Due after one but within five years 4,004 4,103 1.80 % Due after five but within ten years 14,601 14,608 1.36 % Due after ten years 10,177 10,269 1.22 % 43,768 44,068 1.41 % Mortgage-backed securities Due after one but within five years 4,484 4,495 3.75 % Due after five but within ten years 15,934 16,046 0.91 % Due after ten years 27,945 27,808 0.93 % 48,363 48,349 1.18 % Asset-backed securities Due after ten years 37,904 39,002 1.29 % 37,904 39,002 1.29 % State and political subdivisions Due within twelve months 708 714 2.15 % Due after one but within five years 1,877 1,932 3.44 % Due after five but within ten years 1,594 1,527 2.10 % Due after ten years 51,457 50,354 2.28 % 55,636 54,527 2.31 % Corporate bonds Due after one but within five years 3,908 4,137 3.20 % 3,908 4,137 3.20 % Total securities available for sale Due within twelve months 15,694 15,802 1.52 % Due after one but within five years 14,273 14,667 3.01 % Due after five but within ten years 32,129 32,181 1.17 % Due after ten years 127,483 127,433 1.60 % $ 189,579 $ 190,083 1.63 % |
Amortized Cost and Fair Value of Held to Maturity Securities Portfolio | March 31, 2021 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities held to maturity U. S. Government agencies Due after one but within five years $ 247 $ 252 2.97 % 247 252 2.97 % State and political subdivisions Due within twelve months 1,369 1,375 2.06 % Due after one but within five years 2,724 2,796 2.64 % Due after ten years 13,462 14,263 3.45 % 17,555 18,434 3.22 % Corporate Bonds Due after five but within ten years 10,000 10,132 5.01 % 10,000 10,132 5.01 % Total securities held for maturity Due within twelve months 1,369 1,375 2.06 % Due after one but within five years 2,971 3,048 2.67 % Due after five but within ten years 10,000 10,132 5.01 % Due after ten years 13,462 14,263 3.45 % $ 27,802 $ 28,818 3.86 % |
Unrealized Gains and Losses Related to Equity Securities | The portion of unrealized gains and losses for the three-month periods ended March 31, 2021 and 2020 Three Months Ended March 31, 2021 2020 (dollars in thousands) Gross proceeds from sales $ 929 $ — Net gains (losses) recognized during the period on equity securities $ (19 ) $ 231 Less: Realized gains from equity securities sold during the period 298 — Unrealized gains (losses) from equity securities still held at the reporting date $ (317 ) $ 231 |
Loans Held for Investment (Tabl
Loans Held for Investment (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Composition of Net Loans Held for Investment by Class | The composition of net loans held for investment by class as of March 31, 2021 and December 31, 2020 are as follows: March 31, 2021 December 31, 2020 (dollars in thousands) Commercial Commercial $ 63,329 $ 64,334 SBA Paycheck Protection Program (PPP) 76,504 76,398 Real estate - commercial 142,625 147,229 Other real estate construction loans 31,955 32,920 Other loans 2,966 3,098 Noncommercial Real estate 1-4 family construction 3,825 7,709 Real estate - residential 81,379 75,000 Home equity 49,411 51,615 Consumer loans 11,085 11,073 463,079 469,376 Less: Allowance for loan losses (4,252 ) (4,402 ) Deferred loan fees net (2,638 ) (1,635 ) Loans held for investment, net $ 456,189 $ 463,339 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Changes in Allowance for Loan Losses | The following tables show the change in the allowance for loan losses by loan segment for the three months ended March 31, 2021 and 2020, respectively: Commercial Three Months Ended March 31, 2021 2020 (dollars in thousands) Balance, beginning of period $ 2,753 $ 1,087 Provision for (recovery of) loan losses (87 ) 422 Charge-offs (118 ) (3 ) Recoveries 7 6 Net (charge-offs) recoveries (111 ) 3 Balance at end of period $ 2,555 $ 1,512 Non-Commercial Three Months Ended March 31, 2021 2020 (dollars in thousands) Balance, beginning of period $ 1,649 $ 894 Provision for loan losses 53 210 Charge-offs (20 ) (7 ) Recoveries 15 18 Net (charge-offs) recoveries (5 ) 11 Balance at end of period $ 1,697 $ 1,115 Total Three Months Ended March 31, 2021 2020 (dollars in thousands) Balance, beginning of period $ 4,402 $ 1,981 Provision for (recovery of) loan losses (34 ) 632 Charge-offs (138 ) (10 ) Recoveries 22 24 Net (charge-offs) recoveries (116 ) 14 Balance at end of period $ 4,252 $ 2,627 |
Schedule of Loans and Reserve Balances by Loan Segment Both Individually and Collectively Evaluated for Impairment | The following tables show period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at March 31, 2021 and December 31, 2020: March 31, 2021 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 98 $ 4,272 $ 2,457 $ 310,346 $ 2,555 $ 314,618 Non-Commercial 91 2,977 1,606 142,846 1,697 145,823 Total $ 189 $ 7,249 $ 4,063 $ 453,192 $ 4,252 $ 460,441 December 31, 2020 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 53 $ 5,237 $ 2,700 $ 317,094 $ 2,753 $ 322,331 Non-Commercial 94 2,917 1,555 142,493 1,649 145,410 Total $ 147 $ 8,154 $ 4,255 $ 459,587 $ 4,402 $ 467,741 |
Past Due Information of Loan Portfolio by Class | Past due loan information is used by management when assessing the adequacy of the allowance for loan losses. The following tables summarize the past due information of the loan portfolio by class as of the dates indicated: March 31, 2021 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ — $ — $ — $ 63,329 $ 63,329 $ — SBA Paycheck Protection Program (PPP) — — — 73,743 73,743 — Real estate - commercial — 2,165 2,165 140,460 142,625 — Other real estate construction — — — 31,955 31,955 — Real estate 1-4 family construction — — — 3,825 3,825 — Real estate - residential 94 532 626 80,876 81,502 — Home equity 21 237 258 49,153 49,411 — Consumer loans 14 — 14 11,071 11,085 — Other loans — — — 2,966 2,966 — Total $ 129 $ 2,934 $ 3,063 $ 457,378 $ 460,441 $ — December 31, 2020 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ — $ — $ — $ 64,334 $ 64,334 $ — SBA Paycheck Protection Program (PPP) — — — 74,750 74,750 — Real estate - commercial — 2,076 2,076 145,153 147,229 — Other real estate construction 52 1,039 1,091 31,829 32,920 — Real estate 1-4 family construction — — — 7,709 7,709 — Real estate - residential 299 595 894 74,119 75,013 — Home equity — 48 48 51,567 51,615 — Consumer loan 46 — 46 11,027 11,073 — Other loans — — — 3,098 3,098 — Total $ 397 $ 3,758 $ 4,155 $ 463,586 $ 467,741 $ — |
Composition of Nonaccrual Loans by Class | The composition of non-accrual loans by class as of March 31, 2021 and December 31, 2020 was as follows: March 31, 2021 December 31, 2020 (dollars in thousands) Commercial $ — $ — SBA Paycheck Protection Program (PPP) — — Real estate - commercial 2,165 2,076 Other real estate construction — 1,039 Real estate 1 – 4 family construction — — Real estate – residential 532 595 Home equity 237 48 Consumer loans — — Other loans — — $ 2,934 $ 3,758 |
Summary of Risk Grades of Portfolio by Class | The tables below summarize risk grades of the loan portfolio by class at March 31, 2021 and December 31, 2020: March 31, 2021 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 60,871 $ 2,282 $ 176 $ — $ 63,329 SBA Paycheck Protection Program (PPP) 73,743 — — — 73,743 Real estate - commercial 135,051 4,601 2,973 — 142,625 Other real estate construction 31,342 339 274 — 31,955 Real estate 1 - 4 family construction 3,825 — — — 3,825 Real estate - residential 78,889 1,894 719 — 81,502 Home equity 48,417 607 387 — 49,411 Consumer loans 11,016 17 52 — 11,085 Other loans 2,966 — — — 2,966 Total $ 446,120 $ 9,740 $ 4,581 $ — $ 460,441 December 31, 2020 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 61,828 $ 2,321 $ 185 $ — $ 64,334 SBA Paycheck Protection Program (PPP) 74,750 — — — 74,750 Real estate - commercial 143,222 1,113 2,894 — 147,229 Other real estate construction 31,263 344 1,313 — 32,920 Real estate 1 - 4 family construction 7,709 — — — 7,709 Real estate - residential 72,085 2,145 783 — 75,013 Home equity 50,661 661 293 — 51,615 Consumer loans 11,001 19 53 — 11,073 Other loans 3,098 — — — 3,098 Total $ 455,617 $ 6,603 $ 5,521 $ — $ 467,741 |
Summary of Performing and Nonperforming Loans by Class | The following tables show the breakdown between performing and nonperforming loans by class at March 31, 2021 and December 31, 2020: March 31, 2021 Performing Non- Performing Total (dollars in thousands) Commercial $ 63,329 $ — $ 63,329 SBA Paycheck Protection Program (PPP) 73,743 — 73,743 Real estate - commercial 140,460 2,165 142,625 Other real estate construction 31,955 — 31,955 Real estate 1 – 4 family construction 3,825 — 3,825 Real estate – residential 80,970 532 81,502 Home equity 49,174 237 49,411 Consumer loans 11,085 — 11,085 Other loans 2,966 — 2,966 Total $ 457,507 $ 2,934 $ 460,441 December 31, 2020 Performing Non- Performing Total (dollars in thousands) Commercial $ 64,334 $ — $ 64,334 SBA Paycheck Protection Program (PPP) 74,750 — 74,750 Real estate - commercial 145,153 2,076 147,229 Other real estate construction 31,881 1,039 32,920 Real estate 1 – 4 family construction 7,709 — 7,709 Real estate – residential 74,418 595 75,013 Home equity 51,567 48 51,615 Consumer loans 11,073 — 11,073 Other loans 3,098 — 3,098 Total $ 463,983 $ 3,758 $ 467,741 |
Summary of Loans Deemed Impaired and Specific Reserves Allocated by Class | The tables below summarize the loans deemed impaired and the amount of specific reserves allocated by class at March 31, 2021 and December 31, 2020. March 31, 2021 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 651 $ — $ 651 $ 20 SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,621 2,075 1,546 78 Other real estate construction — — — — Real estate 1 - 4 family construction — — — — Real estate - residential 2,729 1,348 1,381 81 Home equity 237 204 33 10 Consumer loans 11 — 11 — Other loans Total $ 7,249 $ 3,627 $ 3,622 $ 189 December 31, 2020 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 651 $ — $ 651 $ 20 SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,547 2,076 1,471 33 Other real estate construction 1,039 1,039 — — Real estate 1 - 4 family construction — — — — Real estate - residential 2,856 1,416 1,440 84 Home equity 48 15 33 10 Consumer loans 13 — 13 — Other loans — — — — Total $ 8,154 $ 4,546 $ 3,608 $ 147 The table below shows interest income received on impaired loans by class for the three months ended March 31, 2021 and 2020. Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 651 $ 5 $ 82 $ — SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,621 24 3,598 29 Other real estate construction — — 3,848 43 Real estate 1- 4 family construction — — — — Real estate - residential 2,729 38 3,303 40 Home equity 237 1 124 1 Consumer loans 11 — 28 — Other loans — — — — Total $ 7,249 $ 68 $ 10,983 $ 113 |
Troubled Debt Restructures (Tab
Troubled Debt Restructures (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Breakdown of Types of Concessions Made by Loan Class | There were no loans modified as TDRs during the first quarter of 2021. For the three months ended March 31, 2020, the following table presents a breakdown of the types of concessions made by loan class: For the three months ended March 31, 2020 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial 1 $ 41 $ 41 SBA Paycheck Protection Program (PPP) — — — Real estate - commercial — — — Other real estate construction 1 2,725 2,725 Real estate 1 – 4 family construction — — — Real estate – residential 2 335 332 Home equity — — — Consumer loans — — — Other loans — — — Total 4 $ 3,101 $ 3,098 |
Schedule of Status of Types of Debt Restructuring | The following table presents the status of the types of loans modified as TDRs within the previous twelve months as of March 31, 2021 and 2020: Paid In Full Paying as restructured Converted to non-accrual Foreclosure/ Default Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments (dollars in thousands) March 31, 2021 Below market interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 6 639 5 1,745 — — 1 41 Total 6 $ 639 5 $ 1,745 — $ — 1 $ 41 March 31, 2020 Below market interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — 1 221 — — — — Forgiveness of Principal/Other 1 37 6 3,094 1 46 — — Total 1 $ 37 7 $ 3,315 1 $ 46 — $ — As of March 31, 2021, the Company’s modifications of loans for COVID-19 related reasons are disclosed in the table below: Interest only Payment deferral Other Total COVID-19 modifications Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments (dollars in thousands) March 31, 2021 Commercial — $ — 1 $ 4 — $ — 1 $ 4 Real estate - commercial — — 1 27 — — 1 27 Other real estate construction — — — — — — — — Other loans — — — — — — — — Real estate – residential — — — — — — — — Home equity — — — — — — — — Consumer loans — — 1 6 — — 1 6 Total — — 3 37 — — 3 37 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Lessee Disclosure [Abstract] | |
Summary of Other Information Related to Operating Leases | The table below summarizes other information related to our operating leases: Three Months Ended March 31, 2021 2020 (in thousands except percent and period data) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 96 $ 94 Right-of-use assets obtained in exchange for new operating lease liabilities 2,354 1,864 Weighted-average remaining lease term - operating leases, in years 6.6 7.4 Weighted-average discount rate - operating leases 2.45 % 2.90 % |
Summary of the Maturity of Remaining Lease Liabilities | The table below summarizes the maturity of remaining lease liabilities: March 31, 2021 (in thousands) 2021 $ 293 2022 400 2023 408 2024 417 2025 427 2026 and thereafter 753 Total lease payments 2,698 Less: Interest (220 ) Present value of lease liabilities 2,478 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk | At March 31, 2021 and December 31, 2020, outstanding financial instruments whose contract amounts represent credit risk were approximately: March 31, 2021 December 31, 2020 (dollars in thousands) Commitments to extend credit $ 143,254 $ 127,986 Credit card commitments 13,709 12,821 Standby letters of credit 8,071 8,277 Total commitments $ 165,034 $ 149,084 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Information for Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables provides fair value information for assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020: March 31, 2021 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Government agencies $ 44,068 $ — $ 44,068 $ — GSE - Mortgage-backed securities and CMO’s 48,349 — 48,349 — Asset-backed securities 39,002 — 39,002 — State and political subdivisions 54,527 — 54,527 — Corporate bonds 4,137 — 4,137 — Equity securities 404 404 — — Mortgage interest rate lock commitments 2,108 — — 2,108 Mortgage forward sales commitments 623 — 623 — Total assets at fair value on a recurring basis $ 193,218 $ 404 $ 190,706 $ 2,108 December 31, 2020 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Government agencies $ 37,389 $ — $ 37,389 $ — GSE - Mortgage-backed securities and CMO’s 41,496 — 41,496 — Asset-backed securities 39,281 — 39,281 — State and political subdivisions 69,164 — 69,164 — Corporate bonds 4,183 — 4,183 — Equity securities 1,352 1,352 — — Mortgage interest rate lock commitments 2,073 — — 2,073 Total assets at fair value on a recurring basis $ 194,938 $ 1,352 $ 191,513 $ 2,073 Mortgage forward sales commitments $ 388 $ — $ 388 $ — Total liabilities at fair value on a recurring basis $ 388 $ — $ 388 $ — |
Schedule of Reconciliation for Recurring Level 3 Fair Value Measurements | The following table provides a rollforward for recurring Level 3 fair value measurements: March 31, 2021 (dollars in thousands) Mortgage interest rate lock commitments Total Balance at December 31, 2020 2,073 2,073 Change in fair value: Included in income from mortgage banking 35 35 Balance at March 31, 2021 2,108 2,108 |
Assets Measured at Fair Value on Nonrecurring Basis | Assets measured at fair value on a nonrecurring basis are included in the table below as of March 31, 2021 and December 31, 2020: March 31, 2021 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,434 $ — $ — $ 3,434 Total assets at fair value on a nonrecurring basis $ 3,434 $ — $ — $ 3,434 December 31, 2020 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,461 $ — $ — $ 3,461 Total assets at fair value on a nonrecurring basis $ 3,461 $ — $ — $ 3,461 |
Quantitative Information about Level 3 Fair Value Measurements | Quantitative Information about Level 3 Fair Value Measurements March 31, 2021 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount rates 4%-8.75% December 31, 2020 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount rates 4%-8.75% |
Fair Values of Financial Inst_2
Fair Values of Financial Instruments and Interest Rate Risk (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Investments All Other Investments [Abstract] | |
Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments | The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of March 31, 2021 and December 31, 2020: March 31, 2021 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 97,060 $ 97,062 $ 95,815 $ 1,247 $ — Securities available for sale 190,083 190,083 — 190,083 — Securities held to maturity 27,802 28,818 — 18,686 10,132 Equity securities 404 404 404 — — Loans held for investment, net 456,189 451,627 — — 451,627 Loans held for sale 14,213 14,213 — 14,213 — Restricted stock 921 921 921 — — Loan servicing rights 4,511 4,865 — 4,865 — Mortgage interest rate lock commitments 2,108 2,108 — — 2,108 Mortgage forward sales commitments 623 623 — 623 — Accrued interest receivable 2,344 2,344 — — 2,344 FINANCIAL LIABILITIES Deposits $ 744,149 $ 744,222 $ — $ 744,222 $ — Short-term borrowings 1,338 1,338 — 1,338 — Long-term borrowings 11,242 11,002 — — 11,002 Accrued interest payable 16 16 — — 16 December 31, 2020 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 88,868 $ 88,879 $ 87,623 $ 1,256 $ — Securities available for sale 191,513 191,513 — 191,513 — Securities held to maturity 28,207 29,600 — 19,664 9,936 Equity securities 1,352 1,352 1,352 — — Loans held for investment, net 463,339 458,706 — — 458,706 Loans held for sale 6,959 6,959 — 6,959 — Restricted stock 1,166 1,166 1,166 — — Loan servicing rights 3,957 4,054 — 4,054 — Mortgage interest rate lock commitments 2,073 2,073 — — 2,073 Accrued interest receivable 2,523 2,523 — — 2,523 FINANCIAL LIABILITIES Deposits $ 743,196 $ 743,378 $ — $ 743,378 $ — Short-term borrowings 710 710 — 710 — Long-term debt 10,992 10,909 — — 10,909 Mortgage forward sales commitments 388 388 — 388 — Accrued interest payable 21 21 — — 21 |
Comprehensive Income - Accumula
Comprehensive Income - Accumulated Other Comprehensive Income (loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning balance | $ 59,237 | $ 48,858 |
Total other comprehensive income (loss) | (3,772) | 1,604 |
Ending balance | 59,826 | 50,037 |
Unrealized Holding Gains on Available-for-Sale Securities (Net) [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning balance | 4,160 | 323 |
Other comprehensive income (loss) before reclassifications, net of $937 and ($490) tax effect, respectively | (3,022) | 1,651 |
Amounts reclassified from accumulated other comprehensive income, net of $190 and $11 tax effect, respectively | (750) | (47) |
Total other comprehensive income (loss) | (3,772) | 1,604 |
Ending balance | $ 388 | $ 1,927 |
Comprehensive Income - Accumu_2
Comprehensive Income - Accumulated Other Comprehensive Income (loss) (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Tax effect on amount reclassified from accumulated other comprehensive income | $ 190 | $ 11 |
Unrealized Holding Gains on Available-for-Sale Securities (Net) [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Tax effect on Other Comprehensive income (loss) before reclassifications | 937 | (490) |
Tax effect on amount reclassified from accumulated other comprehensive income | $ 190 | $ 11 |
Noncontrolling Interest - Addit
Noncontrolling Interest - Additional Information (Detail) - Preferred Stock Series B and Series C [Member] - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended |
Jan. 31, 2013 | Mar. 31, 2021 | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ||
Preferred stock issued | $ 10.7 | |
Dividends rate | 5.30% | |
Voting rights | The preferred stock has no voting rights |
Per Share Data - Additional Inf
Per Share Data - Additional Information (Detail) - shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |||
Stock options outstanding | 0 | 0 | |
Basic | 7,050,790 | 7,209,107 |
Investment and Equity Securit_3
Investment and Equity Securities - Carrying Amounts and Fair Values of Securities Available for Sale and Held to Maturity (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 189,579 | $ 186,110 |
Available-for-sale Securities, Gross Unrealized Gains | 2,613 | 5,591 |
Available-for-sale Securities, Gross Unrealized Losses | 2,109 | 188 |
Available-for-sale Securities, Fair Value | 190,083 | 191,513 |
Held-to-maturity Securities, Amortized Cost | 27,802 | 28,207 |
Held-to-maturity Securities, Gross Unrealized Gains | 1,020 | 1,393 |
Held-to-maturity Securities, Gross Unrealized Losses | 4 | |
Held-to-maturity Securities, Fair Value | 28,818 | 29,600 |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 43,768 | 36,804 |
Available-for-sale Securities, Gross Unrealized Gains | 330 | 611 |
Available-for-sale Securities, Gross Unrealized Losses | 30 | 26 |
Available-for-sale Securities, Fair Value | 44,068 | 37,389 |
Held-to-maturity Securities, Amortized Cost | 247 | 459 |
Held-to-maturity Securities, Gross Unrealized Gains | 5 | 11 |
Held-to-maturity Securities, Fair Value | 252 | 470 |
GSE - Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 48,363 | 39,720 |
Available-for-sale Securities, Gross Unrealized Gains | 322 | 1,844 |
Available-for-sale Securities, Gross Unrealized Losses | 336 | 68 |
Available-for-sale Securities, Fair Value | 48,349 | 41,496 |
Asset-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 37,904 | 38,536 |
Available-for-sale Securities, Gross Unrealized Gains | 1,098 | 748 |
Available-for-sale Securities, Gross Unrealized Losses | 3 | |
Available-for-sale Securities, Fair Value | 39,002 | 39,281 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 55,636 | 67,148 |
Available-for-sale Securities, Gross Unrealized Gains | 634 | 2,107 |
Available-for-sale Securities, Gross Unrealized Losses | 1,743 | 91 |
Available-for-sale Securities, Fair Value | 54,527 | 69,164 |
Held-to-maturity Securities, Amortized Cost | 17,555 | 17,748 |
Held-to-maturity Securities, Gross Unrealized Gains | 879 | 1,382 |
Held-to-maturity Securities, Fair Value | 18,434 | 19,130 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 3,908 | 3,902 |
Available-for-sale Securities, Gross Unrealized Gains | 229 | 281 |
Available-for-sale Securities, Fair Value | 4,137 | 4,183 |
Held-to-maturity Securities, Amortized Cost | 10,000 | 10,000 |
Held-to-maturity Securities, Gross Unrealized Gains | 136 | |
Held-to-maturity Securities, Gross Unrealized Losses | 4 | |
Held-to-maturity Securities, Fair Value | $ 10,132 | $ 10,000 |
Investment and Equity Securit_4
Investment and Equity Securities - Additional Information (Detail) | 3 Months Ended | ||
Mar. 31, 2021USD ($)Security | Dec. 31, 2020USD ($)Security | Mar. 31, 2020Security | |
Schedule of Available-for-sale Securities [Line Items] | |||
Federal Reserve stock owned by Company | $ | $ 509,000 | $ 509,000 | |
Federal Home Loan Bank stock (FHLB) | $ | 411,000 | 657,000 | |
Securities available for sale pledged as collateral on public deposits | $ | $ 71,000,000 | $ 82,800,000 | |
Number of held to maturity securities related to unrealized losses less than twelve months | 1 | ||
U.S. Government Agencies [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Number of available for sale securities related to unrealized losses less than twelve months | 4 | 4 | |
Number of available for sale securities related to unrealized losses more than twelve months | 2 | ||
GSE - Mortgage-backed Securities and CMO's [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Number of available for sale securities related to unrealized losses less than twelve months | 5 | 3 | |
Number of available for sale securities related to unrealized losses more than twelve months | 2 | ||
Available for sale securities | $ | $ 0 | ||
U S States And Political [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Number of available for sale securities related to unrealized losses less than twelve months | 29 | 10 | |
Number of available for sale securities related to unrealized losses more than twelve months | 2 | ||
Asset-backed Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Number of available for sale securities related to unrealized losses less than twelve months | 2 |
Investment and Equity Securit_5
Investment and Equity Securities - Sales of Securities Available for Sale (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Investments Debt And Equity Securities [Abstract] | ||
Gross proceeds from sales | $ 34,237 | $ 7,586 |
Realized gains from sales | 1,454 | 58 |
Realized losses from sales | 514 | |
Net realized gains | $ 940 | $ 58 |
Investment and Equity Securit_6
Investment and Equity Securities - Gross Unrealized Losses and Fair Value of Investments (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | $ 65,162 | $ 29,296 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 2,013 | 188 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 7,782 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 96 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 72,944 | 29,296 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 2,109 | 188 |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 5,237 | 5,061 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 19 | 26 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 2,805 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 11 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 8,042 | 5,061 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 30 | 26 |
GSE - Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 21,216 | 10,263 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 315 | 68 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 3,563 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 21 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 24,779 | 10,263 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 336 | 68 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 38,709 | 11,286 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 1,679 | 91 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 1,414 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 64 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 40,123 | 11,286 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | $ 1,743 | 91 |
Asset-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 2,686 | |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 3 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 2,686 | |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | $ 3 |
Investment and Equity Securit_7
Investment and Equity Securities - Investment Securities - Gross Unrealized Losses and Fair Value of Investments (Detail) $ in Thousands | Mar. 31, 2021USD ($) |
Schedule Of Held To Maturity Securities [Line Items] | |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Fair Value | $ 1,246 |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 4 |
Securities held to maturity, Gross unrealized losses, Fair Value | 1,246 |
Securities held to maturity, Gross unrealized losses, Unrealized Losses | 4 |
Corporate Bonds [Member] | |
Schedule Of Held To Maturity Securities [Line Items] | |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Fair Value | 1,246 |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 4 |
Securities held to maturity, Gross unrealized losses, Fair Value | 1,246 |
Securities held to maturity, Gross unrealized losses, Unrealized Losses | $ 4 |
Investment and Equity Securit_8
Investment and Equity Securities - Amortized Cost and Fair Value of Available for Sale Securities Portfolio (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized cost | $ 15,694 | |
Due after one but within five years, Amortized Cost | 14,273 | |
Due after five but within ten years, Amortized Cost | 32,129 | |
Due after ten years, Amortized Cost | 127,483 | |
Available-for-sale Securities, Amortized Cost | 189,579 | $ 186,110 |
Due within twelve months, Estimated Fair Value | 15,802 | |
Due after one but within five years, Estimated Fair Value | 14,667 | |
Due after five but within ten years, Estimated Fair Value | 32,181 | |
Due after ten years, Estimated Fair Value | 127,433 | |
Available-for-sale Securities, Estimated Fair Value | $ 190,083 | 191,513 |
Due within twelve months, Book Yield | 1.52% | |
Due after one but within five years, Book Yield | 3.01% | |
Due after five but within ten years, Book Yield | 1.17% | |
Due after ten years, Book Yield | 1.60% | |
Total securities available for sale, Book Yield | 1.63% | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized cost | $ 14,986 | |
Due after one but within five years, Amortized Cost | 4,004 | |
Due after five but within ten years, Amortized Cost | 14,601 | |
Due after ten years, Amortized Cost | 10,177 | |
Available-for-sale Securities, Amortized Cost | 43,768 | 36,804 |
Due within twelve months, Estimated Fair Value | 15,088 | |
Due after one but within five years, Estimated Fair Value | 4,103 | |
Due after five but within ten years, Estimated Fair Value | 14,608 | |
Due after ten years, Estimated Fair Value | 10,269 | |
Available-for-sale Securities, Estimated Fair Value | $ 44,068 | 37,389 |
Due within twelve months, Book Yield | 1.49% | |
Due after one but within five years, Book Yield | 1.80% | |
Due after five but within ten years, Book Yield | 1.36% | |
Due after ten years, Book Yield | 1.22% | |
Total securities available for sale, Book Yield | 1.41% | |
Asset-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after ten years, Amortized Cost | $ 37,904 | |
Available-for-sale Securities, Amortized Cost | 37,904 | 38,536 |
Due after ten years, Estimated Fair Value | 39,002 | |
Available-for-sale Securities, Estimated Fair Value | $ 39,002 | 39,281 |
Due after ten years, Book Yield | 1.29% | |
Total securities available for sale, Book Yield | 1.29% | |
Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 4,484 | |
Due after five but within ten years, Amortized Cost | 15,934 | |
Due after ten years, Amortized Cost | 27,945 | |
Available-for-sale Securities, Amortized Cost | 48,363 | 39,720 |
Due after one but within five years, Estimated Fair Value | 4,495 | |
Due after five but within ten years, Estimated Fair Value | 16,046 | |
Due after ten years, Estimated Fair Value | 27,808 | |
Available-for-sale Securities, Estimated Fair Value | $ 48,349 | 41,496 |
Due after one but within five years, Book Yield | 3.75% | |
Due after five but within ten years, Book Yield | 0.91% | |
Due after ten years, Book Yield | 0.93% | |
Total securities available for sale, Book Yield | 1.18% | |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized cost | $ 708 | |
Due after one but within five years, Amortized Cost | 1,877 | |
Due after five but within ten years, Amortized Cost | 1,594 | |
Due after ten years, Amortized Cost | 51,457 | |
Available-for-sale Securities, Amortized Cost | 55,636 | 67,148 |
Due within twelve months, Estimated Fair Value | 714 | |
Due after one but within five years, Estimated Fair Value | 1,932 | |
Due after five but within ten years, Estimated Fair Value | 1,527 | |
Due after ten years, Estimated Fair Value | 50,354 | |
Available-for-sale Securities, Estimated Fair Value | $ 54,527 | 69,164 |
Due within twelve months, Book Yield | 2.15% | |
Due after one but within five years, Book Yield | 3.44% | |
Due after five but within ten years, Book Yield | 2.10% | |
Due after ten years, Book Yield | 2.28% | |
Total securities available for sale, Book Yield | 2.31% | |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 3,908 | |
Available-for-sale Securities, Amortized Cost | 3,908 | 3,902 |
Due after one but within five years, Estimated Fair Value | 4,137 | |
Available-for-sale Securities, Estimated Fair Value | $ 4,137 | $ 4,183 |
Due after one but within five years, Book Yield | 3.20% | |
Total securities available for sale, Book Yield | 3.20% |
Investment and Equity Securit_9
Investment and Equity Securities - Investment Securities - Amortized Cost and Fair Value of Held to Maturity Securities Portfolio (Detail) $ in Thousands | Mar. 31, 2021USD ($) |
Schedule Of Held To Maturity Securities [Line Items] | |
Due within twelve months, Amortized Cost | $ 1,369 |
Due after one but within five years, Amortized Cost | 2,971 |
Due after five but within ten years, Amortized Cost | 10,000 |
Due after ten years, Amortized cost | 13,462 |
Total Securities held for maturity, Amortized Cost | 27,802 |
U.S. Government Agencies [Member] | |
Schedule Of Held To Maturity Securities [Line Items] | |
Due after one but within five years, Amortized Cost | 247 |
Total Securities held for maturity, Amortized Cost | 247 |
State and Political Subdivisions [Member] | |
Schedule Of Held To Maturity Securities [Line Items] | |
Due within twelve months, Amortized Cost | 1,369 |
Due after one but within five years, Amortized Cost | 2,724 |
Due after ten years, Amortized cost | 13,462 |
Total Securities held for maturity, Amortized Cost | 17,555 |
Corporate Bonds [Member] | |
Schedule Of Held To Maturity Securities [Line Items] | |
Due after five but within ten years, Amortized Cost | 10,000 |
Total Securities held for maturity, Amortized Cost | $ 10,000 |
Investment and Equity Securi_10
Investment and Equity Securities - Amortized Cost and Fair Value of Held to Maturity Securities Portfolio (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Due within twelve months, Estimated Fair Value | $ 1,375 | |
Due after one but within five years, Estimated Fair Value | 3,048 | |
Due after five but within ten years, Estimated Fair Value | 10,132 | |
Due after ten years, Estimated Fair Value | 14,263 | |
Total Securities held for maturity, Estimated Fair Value | $ 28,818 | $ 29,600 |
Due within twelve months, Book Yield | 2.06% | |
Due after one but within five years, Book Yield | 2.67% | |
Due after five but within ten years, Book Yield | 5.01% | |
Due after ten years, Book Yield | 3.45% | |
Total Securities held for maturity, Book Yield | 3.86% | |
U.S. Government Agencies [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Due after one but within five years, Estimated Fair Value | $ 252 | |
Total Securities held for maturity, Estimated Fair Value | $ 252 | 470 |
Due after one but within five years, Book Yield | 2.97% | |
Total Securities held for maturity, Book Yield | 2.97% | |
State and Political Subdivisions [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Due within twelve months, Estimated Fair Value | $ 1,375 | |
Due after one but within five years, Estimated Fair Value | 2,796 | |
Due after ten years, Estimated Fair Value | 14,263 | |
Total Securities held for maturity, Estimated Fair Value | $ 18,434 | 19,130 |
Due within twelve months, Book Yield | 2.06% | |
Due after one but within five years, Book Yield | 2.64% | |
Due after ten years, Book Yield | 3.45% | |
Total Securities held for maturity, Book Yield | 3.22% | |
Corporate Bonds [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Due after five but within ten years, Estimated Fair Value | $ 10,132 | |
Total Securities held for maturity, Estimated Fair Value | $ 10,132 | $ 10,000 |
Due after five but within ten years, Book Yield | 5.01% | |
Total Securities held for maturity, Book Yield | 5.01% |
Investment and Equity Securi_11
Investment and Equity Securities - Unrealized Gain and Losses related to Equity Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Investments Debt And Equity Securities [Abstract] | ||
Gross proceeds from sales | $ 929 | |
Net gains (losses) recognized during the period on equity securities | (19) | $ 231 |
Less: Realized gains from equity securities sold during the period | 298 | |
Unrealized gains (losses) from equity securities still held at the reporting date | $ (317) | $ 231 |
Loans Held for Investment - Com
Loans Held for Investment - Composition of Net Loans Held for Investment by Class (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | $ 463,079 | $ 469,376 | ||
Less: | ||||
Allowance for loan losses | (4,252) | (4,402) | $ (2,627) | $ (1,981) |
Deferred loan fees net | (2,638) | (1,635) | ||
Net loans held for investment | 456,189 | 463,339 | ||
Commercial [Member] | ||||
Less: | ||||
Allowance for loan losses | (2,555) | (2,753) | (1,512) | (1,087) |
Commercial [Member] | Commercial Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 63,329 | 64,334 | ||
Commercial [Member] | SBA Paycheck Protection Program (PPP) [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 76,504 | 76,398 | ||
Commercial [Member] | Real Estate - Commercial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 142,625 | 147,229 | ||
Commercial [Member] | Other Real Estate Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 31,955 | 32,920 | ||
Commercial [Member] | Other Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 2,966 | 3,098 | ||
Non-Commercial [Member] | ||||
Less: | ||||
Allowance for loan losses | (1,697) | (1,649) | $ (1,115) | $ (894) |
Non-Commercial [Member] | Consumer Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 11,085 | 11,073 | ||
Non-Commercial [Member] | Real Estate 1 - 4 Family Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 3,825 | 7,709 | ||
Non-Commercial [Member] | Real Estate - Residential [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 81,379 | 75,000 | ||
Non-Commercial [Member] | Home Equity [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | $ 49,411 | $ 51,615 |
Loans Held for Investment - Add
Loans Held for Investment - Additional Information (Details) - Paycheck Protection Program [Member] $ in Millions | Jun. 05, 2020 | Jun. 04, 2020 | Mar. 31, 2021USD ($)PPPLoan |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan Term | 5 years | 2 years | |
Interest earn on loan | 1.00% | ||
Number of Loans | PPPLoan | 1,202 | ||
Recorded Investments | $ | $ 81 | ||
Number of modified loans, current | PPPLoan | 598 | ||
Loan balances | $ | $ 47 | ||
Number of modified loans | PPPLoan | 672 | ||
Amount of additional loans funded | $ | $ 42.5 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Balance, beginning of period | $ 4,402 | $ 1,981 |
Provision for (recovery of) loan losses | (34) | 632 |
Charge-offs | (138) | (10) |
Recoveries | 22 | 24 |
Net (charge-offs) recoveries | (116) | 14 |
Balance at end of period | 4,252 | 2,627 |
Commercial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Balance, beginning of period | 2,753 | 1,087 |
Provision for (recovery of) loan losses | (87) | 422 |
Charge-offs | (118) | (3) |
Recoveries | 7 | 6 |
Net (charge-offs) recoveries | (111) | 3 |
Balance at end of period | 2,555 | 1,512 |
Non-Commercial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Balance, beginning of period | 1,649 | 894 |
Provision for (recovery of) loan losses | 53 | 210 |
Charge-offs | (20) | (7) |
Recoveries | 15 | 18 |
Net (charge-offs) recoveries | (5) | 11 |
Balance at end of period | $ 1,697 | $ 1,115 |
Allowance for Loan Losses - Sch
Allowance for Loan Losses - Schedule of Loans and Reserve Balances by Loan Segment Both Individually and Collectively Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Individually Evaluated, Reserve | $ 189 | $ 147 | ||
Individually Evaluated, Loans | 7,249 | 8,154 | ||
Collectively Evaluated, Reserve | 4,063 | 4,255 | ||
Collectively Evaluated, Loans | 453,192 | 459,587 | ||
Total Reserve | 4,252 | 4,402 | $ 2,627 | $ 1,981 |
Total Loans | 460,441 | 467,741 | ||
Commercial [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Individually Evaluated, Reserve | 98 | 53 | ||
Individually Evaluated, Loans | 4,272 | 5,237 | ||
Collectively Evaluated, Reserve | 2,457 | 2,700 | ||
Collectively Evaluated, Loans | 310,346 | 317,094 | ||
Total Reserve | 2,555 | 2,753 | 1,512 | 1,087 |
Total Loans | 314,618 | 322,331 | ||
Non-Commercial [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Individually Evaluated, Reserve | 91 | 94 | ||
Individually Evaluated, Loans | 2,977 | 2,917 | ||
Collectively Evaluated, Reserve | 1,606 | 1,555 | ||
Collectively Evaluated, Loans | 142,846 | 142,493 | ||
Total Reserve | 1,697 | 1,649 | $ 1,115 | $ 894 |
Total Loans | $ 145,823 | $ 145,410 |
Allowance for Loan Losses - Pas
Allowance for Loan Losses - Past Due Information of Loan Portfolio by Class (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | $ 3,063 | $ 4,155 |
Current Loans | 457,378 | 463,586 |
Total Loans | 460,441 | 467,741 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 129 | 397 |
Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 2,934 | 3,758 |
Real Estate - Commercial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 2,165 | 2,076 |
Current Loans | 140,460 | 145,153 |
Total Loans | 142,625 | 147,229 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate - Commercial [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 2,165 | 2,076 |
Other Real Estate Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 1,091 | |
Current Loans | 31,955 | 31,829 |
Total Loans | 31,955 | 32,920 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Other Real Estate Construction [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 52 | |
Other Real Estate Construction [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 1,039 | |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Current Loans | 3,825 | 7,709 |
Total Loans | 3,825 | 7,709 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate - Residential [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 626 | 894 |
Current Loans | 80,876 | 74,119 |
Total Loans | 81,502 | 75,013 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate - Residential [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 94 | 299 |
Real Estate - Residential [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 532 | 595 |
Home Equity [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 258 | 48 |
Current Loans | 49,153 | 51,567 |
Total Loans | 49,411 | 51,615 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Home Equity [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 21 | |
Home Equity [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 237 | 48 |
Other Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Current Loans | 2,966 | 3,098 |
Total Loans | 2,966 | 3,098 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Paycheck Protection Program [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Current Loans | 73,743 | 74,750 |
Total Loans | 73,743 | 74,750 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Commercial Loan [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Current Loans | 63,329 | 64,334 |
Total Loans | 63,329 | 64,334 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Consumer Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 14 | 46 |
Current Loans | 11,071 | 11,027 |
Total Loans | 11,085 | 11,073 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Consumer Loans [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | $ 14 | $ 46 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Allowance For Loan Losses [Line Items] | ||
Financing receivable recorded investment number of days past due | 90 days | |
Accruing Loans 90 or More Days Past Due | $ 0 | $ 0 |
Real Estate - Residential [Member] | ||
Allowance For Loan Losses [Line Items] | ||
Foreclosed residential real estate, loan amount | 0 | 0 |
Real estate in process of foreclosure, loan amount | 0 | 51,000 |
Accruing Loans 90 or More Days Past Due | $ 0 | $ 0 |
Allowance for Loan Losses - Com
Allowance for Loan Losses - Composition of Nonaccrual Loans by Class (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | $ 3,063 | $ 4,155 |
Real Estate - Commercial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 2,165 | 2,076 |
Other Real Estate Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 1,091 | |
Real Estate - Residential [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 626 | 894 |
Home Equity [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 258 | 48 |
Consumer Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 14 | 46 |
Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 2,934 | 3,758 |
Loans 90 Days or More Past Due and Non - Accrual [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 2,165 | 2,076 |
Loans 90 Days or More Past Due and Non - Accrual [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 1,039 | |
Loans 90 Days or More Past Due and Non - Accrual [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 532 | 595 |
Loans 90 Days or More Past Due and Non - Accrual [Member] | Home Equity [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | $ 237 | $ 48 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Risk Grades of Portfolio by Class (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 460,441 | $ 467,741 |
Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 142,625 | 147,229 |
Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 31,955 | 32,920 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 3,825 | 7,709 |
Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 81,502 | 75,013 |
Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 49,411 | 51,615 |
Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,966 | 3,098 |
Paycheck Protection Program [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 73,743 | 74,750 |
Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 63,329 | 64,334 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 11,085 | 11,073 |
Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 446,120 | 455,617 |
Pass [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 135,051 | 143,222 |
Pass [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 31,342 | 31,263 |
Pass [Member] | Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 3,825 | 7,709 |
Pass [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 78,889 | 72,085 |
Pass [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 48,417 | 50,661 |
Pass [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,966 | 3,098 |
Pass [Member] | Paycheck Protection Program [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 73,743 | 74,750 |
Pass [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 60,871 | 61,828 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 11,016 | 11,001 |
Watch [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 9,740 | 6,603 |
Watch [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 4,601 | 1,113 |
Watch [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 339 | 344 |
Watch [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,894 | 2,145 |
Watch [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 607 | 661 |
Watch [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,282 | 2,321 |
Watch [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 17 | 19 |
Sub-standard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 4,581 | 5,521 |
Sub-standard [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,973 | 2,894 |
Sub-standard [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 274 | 1,313 |
Sub-standard [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 719 | 783 |
Sub-standard [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 387 | 293 |
Sub-standard [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 176 | 185 |
Sub-standard [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 52 | $ 53 |
Allowance for Loan Losses - S_2
Allowance for Loan Losses - Summary of Performing and Nonperforming Loans by Class (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 460,441 | $ 467,741 |
Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 142,625 | 147,229 |
Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 31,955 | 32,920 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 3,825 | 7,709 |
Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 81,502 | 75,013 |
Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 49,411 | 51,615 |
Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,966 | 3,098 |
Paycheck Protection Program [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 73,743 | 74,750 |
Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 63,329 | 64,334 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 11,085 | 11,073 |
Performing [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 457,507 | 463,983 |
Performing [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 140,460 | 145,153 |
Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 31,955 | 31,881 |
Performing [Member] | Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 3,825 | 7,709 |
Performing [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 80,970 | 74,418 |
Performing [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 49,174 | 51,567 |
Performing [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,966 | 3,098 |
Performing [Member] | Paycheck Protection Program [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 73,743 | 74,750 |
Performing [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 63,329 | 64,334 |
Performing [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 11,085 | 11,073 |
Non-Performing [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,934 | 3,758 |
Non-Performing [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,165 | 2,076 |
Non-Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,039 | |
Non-Performing [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 532 | 595 |
Non-Performing [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 237 | $ 48 |
Allowance for Loan Losses - S_3
Allowance for Loan Losses - Summary of Loans Deemed Impaired and Specific Reserves Allocated by Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | $ 7,249 | $ 8,154 | |
Recorded Investment With No Allowance | 3,627 | 4,546 | |
Recorded Investment With Allowance | 3,622 | 3,608 | |
Related Allowance | 189 | 147 | |
Average Recorded Investment | 7,249 | $ 10,983 | |
Interest Income | 68 | 113 | |
Real Estate - Commercial [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 3,621 | 3,547 | |
Recorded Investment With No Allowance | 2,075 | 2,076 | |
Recorded Investment With Allowance | 1,546 | 1,471 | |
Related Allowance | 78 | 33 | |
Average Recorded Investment | 3,621 | 3,598 | |
Interest Income | 24 | 29 | |
Other Real Estate Construction [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 1,039 | ||
Recorded Investment With No Allowance | 1,039 | ||
Average Recorded Investment | 3,848 | ||
Interest Income | 43 | ||
Real Estate - Residential [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 2,729 | 2,856 | |
Recorded Investment With No Allowance | 1,348 | 1,416 | |
Recorded Investment With Allowance | 1,381 | 1,440 | |
Related Allowance | 81 | 84 | |
Average Recorded Investment | 2,729 | 3,303 | |
Interest Income | 38 | 40 | |
Home Equity [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 237 | 48 | |
Recorded Investment With No Allowance | 204 | 15 | |
Recorded Investment With Allowance | 33 | 33 | |
Related Allowance | 10 | 10 | |
Average Recorded Investment | 237 | 124 | |
Interest Income | 1 | 1 | |
Commercial Loan [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 651 | 651 | |
Recorded Investment With Allowance | 651 | 651 | |
Related Allowance | 20 | 20 | |
Average Recorded Investment | 651 | 82 | |
Interest Income | 5 | ||
Consumer Loans [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 11 | 13 | |
Recorded Investment With Allowance | 11 | $ 13 | |
Average Recorded Investment | $ 11 | $ 28 |
Troubled Debt Restructures - Ad
Troubled Debt Restructures - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2021USD ($)Contract | Mar. 31, 2020USD ($)Contract | Mar. 31, 2021USD ($)Contract | Dec. 31, 2020USD ($)Contract | Mar. 31, 2020Contract | |
Financing Receivable Modifications [Line Items] | |||||
Outstanding balance of TDRs | $ | $ 4,400,000 | $ 4,400,000 | $ 4,400,000 | ||
Number of contracts on non-accruing basis | 1 | 1 | |||
Outstanding balance of TDRs non accruing | $ | $ 46,000 | $ 46,000 | $ 46,000 | ||
Number of TDR's payment default | 1 | 2 | |||
TDR is defined as being past due | 90 days | ||||
Allowance for loan loss on TDR | $ | $ 139,000 | $ 114,000 | |||
Number of loans currently under a COVID-19 modification | 4 | ||||
Recorded Investments | $ | 4,400,000 | $ 4,400,000 | $ 4,400,000 | ||
Number of Contracts | 4 | ||||
Total COVID-19 modifications [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Outstanding balance of TDRs | $ | $ 37,000 | 37,000 | |||
Number of loans currently under a COVID-19 modification | 3 | ||||
Recorded Investments | $ | $ 37,000 | 37,000 | |||
Number of COVID-19 mods out of accommodation | 205 | ||||
Modified loans with original deferred balances | $ | $ 55,300,000 | ||||
Number of modified loans paid off | 30 | ||||
Loan paid | $ | $ 9,000,000 | 9,000,000 | |||
Number of loans modified that are out of accommodation and current | 172 | ||||
Loan balances | $ | $ 46,200,000 | ||||
Number of modified loans due to noncompliance | 3 | ||||
Amount of COVID-19 modifications that were removed from accommodation due to noncompliance | $ | $ 179,000 | $ 179,000 | |||
Number of Contracts | 3 | ||||
Second Deferral Payment | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of loans currently under a COVID-19 modification | 1 | ||||
Number of Contracts | 1 |
Troubled Debt Restructures - Br
Troubled Debt Restructures - Breakdown of Types of Concessions Made by Loan Class (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($)Contract | |
Financing Receivable Modifications [Line Items] | |
Number of Contracts | Contract | 4 |
Pre-Modification Outstanding Recorded Investment | $ 3,101 |
Post-Modification Outstanding Recorded Investment | $ 3,098 |
Other Payment Terms [Member] | Commercial Loan [Member] | |
Financing Receivable Modifications [Line Items] | |
Number of Contracts | Contract | 1 |
Pre-Modification Outstanding Recorded Investment | $ 41 |
Post-Modification Outstanding Recorded Investment | $ 41 |
Other Payment Terms [Member] | Other Real Estate Construction [Member] | |
Financing Receivable Modifications [Line Items] | |
Number of Contracts | Contract | 1 |
Pre-Modification Outstanding Recorded Investment | $ 2,725 |
Post-Modification Outstanding Recorded Investment | $ 2,725 |
Other Payment Terms [Member] | Real Estate - Residential [Member] | |
Financing Receivable Modifications [Line Items] | |
Number of Contracts | Contract | 2 |
Pre-Modification Outstanding Recorded Investment | $ 335 |
Post-Modification Outstanding Recorded Investment | $ 332 |
Troubled Debt Restructures - Sc
Troubled Debt Restructures - Schedule of Status of Types of Debt Restructuring (Detail) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2021USD ($)Contract | Mar. 31, 2020USD ($)Contract | Mar. 31, 2021USD ($)Contract | Mar. 31, 2020USD ($)Contract | Dec. 31, 2020USD ($) | |
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 4 | ||||
Recorded Investments | $ | $ 4,400,000 | $ 4,400,000 | $ 4,400,000 | ||
Paid In Full [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 6 | 1 | |||
Recorded Investments | $ | 639,000 | $ 37,000 | $ 639,000 | $ 37,000 | |
Paying as Restructured [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 5 | 7 | |||
Recorded Investments | $ | 1,745,000 | 3,315,000 | $ 1,745,000 | $ 3,315,000 | |
Converted To Nonaccrual | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 1 | ||||
Recorded Investments | $ | 46,000 | $ 46,000 | |||
Foreclosure/ Default [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 1 | ||||
Recorded Investments | $ | 41,000 | $ 41,000 | |||
Extended Maturity [Member] | Paying as Restructured [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 1 | ||||
Recorded Investments | $ | 221,000 | $ 221,000 | |||
Forgiveness of Principal Other [Member] | Paid In Full [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 6 | 1 | |||
Recorded Investments | $ | 639,000 | 37,000 | $ 639,000 | $ 37,000 | |
Forgiveness of Principal Other [Member] | Paying as Restructured [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 5 | 6 | |||
Recorded Investments | $ | 1,745,000 | 3,094,000 | $ 1,745,000 | $ 3,094,000 | |
Forgiveness of Principal Other [Member] | Converted To Nonaccrual | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 1 | ||||
Recorded Investments | $ | $ 46,000 | $ 46,000 | |||
Forgiveness of Principal Other [Member] | Foreclosure/ Default [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 1 | ||||
Recorded Investments | $ | $ 41,000 | $ 41,000 | |||
Payment Deferral [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 3 | ||||
Recorded Investments | $ | $ 37,000 | 37,000 | |||
Payment Deferral [Member] | Real Estate - Commercial [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 1 | ||||
Recorded Investments | $ | $ 27,000 | 27,000 | |||
Payment Deferral [Member] | Commercial Loan [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 1 | ||||
Recorded Investments | $ | $ 4,000 | 4,000 | |||
Payment Deferral [Member] | Consumer Loans [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 1 | ||||
Recorded Investments | $ | $ 6,000 | 6,000 | |||
Total COVID-19 modifications [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 3 | ||||
Recorded Investments | $ | $ 37,000 | 37,000 | |||
Total COVID-19 modifications [Member] | Real Estate - Commercial [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 1 | ||||
Recorded Investments | $ | $ 27,000 | 27,000 | |||
Total COVID-19 modifications [Member] | Commercial Loan [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 1 | ||||
Recorded Investments | $ | $ 4,000 | 4,000 | |||
Total COVID-19 modifications [Member] | Consumer Loans [Member] | |||||
Financing Receivable Modifications [Line Items] | |||||
Number of Loans | Contract | 1 | ||||
Recorded Investments | $ | $ 6,000 | $ 6,000 |
Leases - Additional Information
Leases - Additional Information (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021USD ($)OfficeLocationBranch | Mar. 31, 2020USD ($) | |
Lessee Lease Description [Line Items] | ||
Number of office locations leased | OfficeLocation | 3 | |
Number of branch locations leased | Branch | 2 | |
Lessee, Operating Lease, Existence of Option to Extend [true false] | true | |
Description of option to extend | Certain lease arrangements contain extension options which range from five to ten years at the then fair market rental rates. | |
Operating Lease, Liability | $ 2,478 | |
Operating lease costs | 99,000 | $ 96,000 |
ASU 2016-02 [Member] | ||
Lessee Lease Description [Line Items] | ||
Operating Lease, Right-of-Use Asset | 2,400 | 1,900 |
Operating Lease, Liability | $ 2,500 | $ 1,900 |
Minimum [Member] | ||
Lessee Lease Description [Line Items] | ||
Operating leases remaining term | 5 years | |
Option to extend term | 5 years | |
Maximum [Member] | ||
Lessee Lease Description [Line Items] | ||
Operating leases remaining term | 9 years | |
Option to extend term | 10 years |
Leases - Summary of Other Infor
Leases - Summary of Other Information Related to Operating Leases (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash paid for amounts included in the measurement of lease liabilities | ||
Operating cash flows from operating leases | $ 96 | $ 94 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 2,354 | $ 1,864 |
Weighted-average remaining lease term - operating leases, in years | 6 years 7 months 6 days | 7 years 4 months 24 days |
Weighted-average discount rate - operating leases | 2.45% | 2.90% |
Leases - Summary of the Maturit
Leases - Summary of the Maturity of Remaining Lease Liabilities (Detail) $ in Thousands | Mar. 31, 2021USD ($) |
Operating Lease Liabilities Payments Due [Abstract] | |
2021 | $ 293 |
2022 | 400 |
2023 | 408 |
2024 | 417 |
2025 | 427 |
2026 and thereafter | 753 |
Total lease payments | 2,698 |
Less: Interest | (220) |
Operating Lease, Liability | $ 2,478 |
Commitments and Contingencies -
Commitments and Contingencies - Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Loss Contingencies [Line Items] | ||
Total commitments | $ 165,034 | $ 149,084 |
Commitments to Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Total commitments | 143,254 | 127,986 |
Credit Card Commitments [Member] | ||
Loss Contingencies [Line Items] | ||
Total commitments | 13,709 | 12,821 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Total commitments | $ 8,071 | $ 8,277 |
Fair Value Disclosures - Fair V
Fair Value Disclosures - Fair Value Information for Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | $ 190,083 | $ 191,513 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 190,083 | 191,513 |
Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 4,137 | 4,183 |
Fair Value on a Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 193,218 | 194,938 |
Total liabilities at fair value on a recurring basis | 388 | |
Fair Value on a Recurring Basis [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 44,068 | 37,389 |
Fair Value on a Recurring Basis [Member] | GSE - Mortgage-backed Securities and CMO's [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 48,349 | 41,496 |
Fair Value on a Recurring Basis [Member] | Asset-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 39,002 | 39,281 |
Fair Value on a Recurring Basis [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 54,527 | 69,164 |
Fair Value on a Recurring Basis [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 404 | 1,352 |
Fair Value on a Recurring Basis [Member] | Mortgage Interest Rate Lock Commitments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 2,108 | 2,073 |
Fair Value on a Recurring Basis [Member] | Mortgage Forward Sales Commitments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 623 | 388 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 404 | 1,352 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 404 | 1,352 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 190,706 | 191,513 |
Total liabilities at fair value on a recurring basis | 388 | |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 44,068 | 37,389 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | GSE - Mortgage-backed Securities and CMO's [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 48,349 | 41,496 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | Asset-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 39,002 | 39,281 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 54,527 | 69,164 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | Mortgage Forward Sales Commitments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 623 | 388 |
Fair Value on a Recurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 2,108 | 2,073 |
Fair Value on a Recurring Basis [Member] | Level 3 [Member] | Mortgage Interest Rate Lock Commitments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 2,108 | 2,073 |
Fair Value on a Recurring Basis [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 4,137 | 4,183 |
Fair Value on a Recurring Basis [Member] | Corporate Bonds [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | $ 4,137 | $ 4,183 |
Fair Value Disclosures - Schedu
Fair Value Disclosures - Schedule of Reconciliation for Recurring Level 3 Fair Value Measurements (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Fair Value Disclosures [Abstract] | |
Beginning Balance | $ 2,073 |
Change in fair value: | |
Included in income from mortgage banking | 35 |
Ending Balance | $ 2,108 |
Fair Value Disclosure (Detail)
Fair Value Disclosure (Detail) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value Disclosures [Abstract] | ||
Fair value of notional amount | $ 63.9 | $ 69 |
Loan rate | 0.85% | 0.83% |
Projected pull-through rate | 86.10% | 86.00% |
Fair Value Disclosures - Assets
Fair Value Disclosures - Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Estimated Fair Value | $ 190,083 | $ 191,513 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Estimated Fair Value | 190,083 | 191,513 |
Fair Value on a Nonrecurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,434 | 3,461 |
Available-for-sale Securities, Estimated Fair Value | 3,434 | 3,461 |
Fair Value on a Nonrecurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,434 | 3,461 |
Available-for-sale Securities, Estimated Fair Value | $ 3,434 | $ 3,461 |
Fair Value Disclosures - Quanti
Fair Value Disclosures - Quantitative Information about Level 3 Fair Value Measurements (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Discounted Cash Flows [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted cash flows | Discounted cash flows |
Discounted Cash Flows [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 4.00% | 4.00% |
Discounted Cash Flows [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 8.75% | 8.75% |
Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted appraisals | Discounted appraisals |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 0.00% | 0.00% |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 25.00% | 25.00% |
Fair Values of Financial Inst_3
Fair Values of Financial Instruments and Interest Rate Risk - Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
FINANCIAL ASSETS | ||
Securities available for sale | $ 190,083 | $ 191,513 |
Securities held to maturity | 28,818 | 29,600 |
Equity securities | 404 | 1,352 |
Loans held for investment, net | 456,189 | 463,339 |
Loan servicing rights | 4,511 | 3,957 |
Accrued interest receivable | 2,344 | 2,524 |
FINANCIAL LIABILITIES | ||
Long-term debt | 11,242 | 10,992 |
Mortgage forward sales commitments | 388 | |
Accrued interest payable | 16 | 21 |
Carrying Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 97,060 | 88,868 |
Securities available for sale | 190,083 | 191,513 |
Securities held to maturity | 27,802 | 28,207 |
Equity securities | 404 | 1,352 |
Loans held for investment, net | 456,189 | 463,339 |
Loans held for sale | 14,213 | 6,959 |
Restricted stock | 921 | 1,166 |
Loan servicing rights | 4,511 | 3,957 |
Mortgage interest rate lock commitments | 2,108 | 2,073 |
Mortgage forward sales commitments | 623 | |
Accrued interest receivable | 2,344 | 2,523 |
FINANCIAL LIABILITIES | ||
Deposits | 744,149 | 743,196 |
Short-term borrowings | 1,338 | 710 |
Long-term debt | 11,242 | 10,992 |
Mortgage forward sales commitments | 388 | |
Accrued interest payable | 16 | 21 |
Estimated Fair Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 97,062 | 88,879 |
Securities available for sale | 190,083 | 191,513 |
Securities held to maturity | 28,818 | 29,600 |
Equity securities | 404 | 1,352 |
Loans held for investment, net | 451,627 | 458,706 |
Loans held for sale | 14,213 | 6,959 |
Restricted stock | 921 | 1,166 |
Loan servicing rights | 4,865 | 4,054 |
Mortgage interest rate lock commitments | 2,108 | 2,073 |
Mortgage forward sales commitments | 623 | |
Accrued interest receivable | 2,344 | 2,523 |
FINANCIAL LIABILITIES | ||
Deposits | 744,222 | 743,378 |
Short-term borrowings | 1,338 | 710 |
Long-term debt | 11,002 | 10,909 |
Mortgage forward sales commitments | 388 | |
Accrued interest payable | 16 | 21 |
Level 2 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 95,815 | 87,623 |
Equity securities | 404 | 1,352 |
Restricted stock | 921 | 1,166 |
Level 2 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 1,247 | 1,256 |
Securities available for sale | 190,083 | 191,513 |
Securities held to maturity | 18,686 | 19,664 |
Loans held for sale | 14,213 | 6,959 |
Loan servicing rights | 4,865 | 4,054 |
Mortgage forward sales commitments | 623 | |
FINANCIAL LIABILITIES | ||
Deposits | 744,222 | 743,378 |
Short-term borrowings | 1,338 | 710 |
Mortgage forward sales commitments | 388 | |
Level 3 [Member] | ||
FINANCIAL ASSETS | ||
Securities held to maturity | 10,132 | 9,936 |
Loans held for investment, net | 451,627 | 458,706 |
Mortgage interest rate lock commitments | 2,108 | 2,073 |
Accrued interest receivable | 2,344 | 2,523 |
FINANCIAL LIABILITIES | ||
Long-term debt | 11,002 | 10,909 |
Accrued interest payable | $ 16 | $ 21 |