Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 09, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-28344 | |
Entity Registrant Name | FIRST COMMUNITY CORPORATION | |
Entity Central Index Key | 0000932781 | |
Entity Tax Identification Number | 57-1010751 | |
Entity Incorporation, State or Country Code | SC | |
Entity Address, Address Line One | 5455 Sunset Boulevard | |
Entity Address, City or Town | Lexington | |
Entity Address, State or Province | SC | |
Entity Address, Postal Zip Code | 29072 | |
City Area Code | (803) | |
Local Phone Number | 951-2265 | |
Title of 12(b) Security | Common stock, par value $1.00 per share | |
Trading Symbol | FCCO | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 7,544,374 |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 24,435 | $ 18,930 |
Interest-bearing bank balances | 55,259 | 46,062 |
Investment securities available-for-sale | 513,500 | 359,866 |
Other investments, at cost | 1,760 | 2,053 |
Loans held-for-sale | 6,213 | 45,020 |
Loans held-for-investment | 881,520 | 844,157 |
Less, allowance for loan losses | 11,025 | 10,389 |
Net loans held-for-investment | 870,495 | 833,768 |
Property and equipment - net | 32,957 | 34,458 |
Lease right-of-use asset | 2,890 | 3,032 |
Premises held-for-sale | 591 | 591 |
Bank owned life insurance | 28,209 | 27,688 |
Other real estate owned | 1,165 | 1,194 |
Intangible assets | 959 | 1,120 |
Goodwill | 14,637 | 14,637 |
Other assets | 7,256 | 6,963 |
Total assets | 1,560,326 | 1,395,382 |
Deposits: | ||
Non-interest bearing | 430,938 | 385,511 |
Interest bearing | 902,630 | 803,902 |
Total deposits | 1,333,568 | 1,189,413 |
Securities sold under agreements to repurchase | 59,821 | 40,914 |
Junior subordinated debt | 14,964 | 14,964 |
Lease liability | 2,992 | 3,114 |
Other liabilities | 9,868 | 10,640 |
Total liabilities | 1,421,213 | 1,259,045 |
SHAREHOLDERS’ EQUITY | ||
Preferred stock, par value $1.00 per share, 10,000,000 shares authorized; none issued and outstanding | ||
Common stock, par value $1.00 per share; 20,000,000 shares authorized; issued and outstanding 7,544,374 at September 30, 2021 7,500,338 at December 31, 2020 | 7,544 | 7,500 |
Nonvested restricted stock | (386) | (283) |
Additional paid in capital | 92,056 | 91,380 |
Retained earnings | 35,306 | 26,453 |
Accumulated other comprehensive income | 4,593 | 11,287 |
Total shareholders’ equity | 139,113 | 136,337 |
Total liabilities and shareholders’ equity | $ 1,560,326 | $ 1,395,382 |
CONSOLIDATED BALANCE SHEETS (_2
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Common Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Shares, Issued | 7,544,374 | 7,500,338 |
Common Stock, Shares, Outstanding | 7,544,374 | 7,500,338 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Interest and dividend income: | ||||
Loans, including fees | $ 10,956 | $ 9,408 | $ 30,147 | $ 27,254 |
Investment securities - taxable | 1,607 | 1,135 | 4,459 | 3,797 |
Investment securities - non taxable | 388 | 390 | 1,164 | 1,065 |
Other short term investments and CD’s | 31 | 43 | 94 | 236 |
Total interest income | 12,982 | 10,976 | 35,864 | 32,352 |
Interest expense: | ||||
Deposits | 403 | 659 | 1,370 | 2,415 |
Securities sold under agreement to repurchase | 19 | 25 | 66 | 166 |
Other borrowed money | 104 | 116 | 313 | 435 |
Total interest expense | 526 | 800 | 1,749 | 3,016 |
Net interest income | 12,456 | 10,176 | 34,115 | 29,336 |
Provision for loan losses | 49 | 1,062 | 394 | 3,387 |
Net interest income after provision for loan losses | 12,407 | 9,114 | 33,721 | 25,949 |
Non-interest income: | ||||
Deposit service charges | 257 | 242 | 715 | 851 |
Mortgage banking income | 1,147 | 1,403 | 3,280 | 3,957 |
Investment advisory fees and non-deposit commissions | 1,040 | 672 | 2,874 | 1,977 |
Gain on sale of securities | 99 | 99 | ||
Gain on sale of other real estate owned | 141 | 77 | 147 | |
Non-recurring bank owned life insurance (BOLI) income | 311 | 311 | ||
Other | 1,120 | 982 | 3,332 | 2,823 |
Total non-interest income | 3,564 | 3,850 | 10,278 | 10,165 |
Non-interest expense: | ||||
Salaries and employee benefits | 6,394 | 6,087 | 18,306 | 17,580 |
Occupancy | 743 | 736 | 2,207 | 2,058 |
Equipment | 336 | 318 | 949 | 934 |
Marketing and public relations | 140 | 342 | 849 | 943 |
FDIC Insurance assessments | 189 | 137 | 504 | 267 |
Other real estate expense | 58 | 79 | 142 | 154 |
Amortization of intangibles | 52 | 95 | 161 | 295 |
Other | 1,993 | 1,920 | 6,205 | 5,652 |
Total non-interest expense | 9,905 | 9,714 | 29,323 | 27,883 |
Net income before tax | 6,066 | 3,250 | 14,676 | 8,231 |
Income tax expense | 1,318 | 598 | 3,130 | 1,568 |
Net income | $ 4,748 | $ 2,652 | $ 11,546 | $ 6,663 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Income Statement [Abstract] | ||||
Net income | $ 4,748 | $ 2,652 | $ 11,546 | $ 6,663 |
Other comprehensive income: | ||||
Unrealized gain (loss) during the period on available-for-sale securities, net of tax benefit of $759 and tax expense of $160, respectively | (2,853) | 602 | (6,694) | 8,484 |
Reclassification adjustment for gain on available-for-sale securities included in net income, net of tax benefit of $0 and $21, respectively | (78) | (78) | ||
Other comprehensive income (loss) | (2,853) | 524 | (6,694) | 8,406 |
Comprehensive income | $ 1,895 | $ 3,176 | $ 4,852 | $ 15,069 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Income Statement [Abstract] | ||||
[custom:OtherComprehensiveIncomeUnrealizedHoldingGainOnSecuritiesArisingDuringPeriodTax] | $ 759 | $ 160 | $ 1,780 | $ 2,255 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 0 | $ 21 | $ 0 | $ 21 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Nonvested Restricted Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 7,440 | $ 90,488 | $ (151) | $ 19,927 | $ 2,490 | $ 120,194 |
Beginning Balance, Shares at Dec. 31, 2019 | 7,440,000 | |||||
Net income | 1,794 | 1,794 | ||||
Other comprehensive income net of tax expense of $139 | 3,381 | 3,381 | ||||
Issuance of common stock | 4 | 4 | ||||
Issuance of restricted stock | $ 18 | 348 | (366) | |||
Issuance of restricted stock, Shares | 18,000 | |||||
Dividend reinvestment plan | $ 5 | 90 | 95 | |||
Dividend reinvestment plan, Shares | 5,000 | |||||
Amortization of compensation on restricted stock | 52 | 52 | ||||
Shares retired | $ (1) | (14) | (15) | |||
Shares forfeited, Shares | (1,000) | |||||
Dividends: Common ($0.12 per share) | (891) | (891) | ||||
Ending balance, value at Mar. 31, 2020 | $ 7,462 | 90,916 | (465) | 20,830 | 5,871 | 124,614 |
Ending Balance, Shares at Mar. 31, 2020 | 7,462,000 | |||||
Beginning balance, value at Dec. 31, 2019 | $ 7,440 | 90,488 | (151) | 19,927 | 2,490 | 120,194 |
Beginning Balance, Shares at Dec. 31, 2019 | 7,440,000 | |||||
Net income | 6,663 | 6,663 | ||||
Other comprehensive income net of tax expense of $139 | 8,406 | 8,406 | ||||
Issuance of common stock | 4 | 4 | ||||
Issuance of restricted stock | $ 18 | 348 | (366) | |||
Issuance of restricted stock, Shares | 18,000 | |||||
Dividend reinvestment plan | $ 18 | 262 | 280 | |||
Issuance of common stock-Deferred Compensation | $ 18 | 182 | 200 | |||
Dividend reinvestment plan, Shares | 18,000 | |||||
Issuance of common stock-deferred compensation, Shares | 18,000 | |||||
Amortization of compensation on restricted stock | 190 | 190 | ||||
Shares retired | $ (1) | (14) | (15) | |||
Shares forfeited, Shares | (1,000) | |||||
Dividends: Common ($0.12 per share) | (2,678) | (2,678) | ||||
Ending balance, value at Sep. 30, 2020 | $ 7,493 | 91,270 | (327) | 23,912 | 10,896 | 133,244 |
Ending Balance, Shares at Sep. 30, 2020 | 7,493,000 | |||||
Beginning balance, value at Mar. 31, 2020 | $ 7,462 | 90,916 | (465) | 20,830 | 5,871 | 124,614 |
Beginning Balance, Shares at Mar. 31, 2020 | 7,462,000 | |||||
Net income | 2,217 | 2,217 | ||||
Other comprehensive income net of tax expense of $139 | 4,501 | 4,501 | ||||
Dividend reinvestment plan | $ 6 | 86 | 92 | |||
Issuance of common stock-Deferred Compensation | $ 18 | 182 | 200 | |||
Dividend reinvestment plan, Shares | 6,000 | |||||
Issuance of common stock-deferred compensation, Shares | 18,000 | |||||
Amortization of compensation on restricted stock | 69 | 69 | ||||
Dividends: Common ($0.12 per share) | (892) | (892) | ||||
Ending balance, value at Jun. 30, 2020 | $ 7,486 | 91,184 | (396) | 22,155 | 10,372 | 130,801 |
Ending Balance, Shares at Jun. 30, 2020 | 7,486,000 | |||||
Net income | 2,652 | 2,652 | ||||
Other comprehensive income net of tax expense of $139 | 524 | 524 | ||||
Dividend reinvestment plan | $ 7 | 86 | 93 | |||
Dividend reinvestment plan, Shares | 7,000 | |||||
Amortization of compensation on restricted stock | 69 | 69 | ||||
Dividends: Common ($0.12 per share) | (895) | (895) | ||||
Ending balance, value at Sep. 30, 2020 | $ 7,493 | 91,270 | (327) | 23,912 | 10,896 | 133,244 |
Ending Balance, Shares at Sep. 30, 2020 | 7,493,000 | |||||
Beginning balance, value at Dec. 31, 2020 | $ 7,500 | 91,380 | (283) | 26,453 | 11,287 | 136,337 |
Beginning Balance, Shares at Dec. 31, 2020 | 7,500,000 | |||||
Net income | 3,255 | 3,255 | ||||
Other comprehensive income net of tax expense of $139 | (6,161) | (6,161) | ||||
Issuance of common stock | $ 2 | 44 | 46 | |||
Issuance of common stock, Shares | 2,000 | |||||
Issuance of restricted stock | $ 21 | 353 | (374) | |||
Issuance of restricted stock, Shares | 21,000 | |||||
Dividend reinvestment plan | $ 6 | 86 | 92 | |||
Dividend reinvestment plan, Shares | 6,000 | |||||
Amortization of compensation on restricted stock | 84 | 84 | ||||
Shares retired | $ (4) | (66) | (70) | |||
Shares forfeited, Shares | (4,000) | |||||
Dividends: Common ($0.12 per share) | (896) | (896) | ||||
Ending balance, value at Mar. 31, 2021 | $ 7,525 | 91,797 | (573) | 28,812 | 5,126 | 132,687 |
Ending Balance, Shares at Mar. 31, 2021 | 7,525,000 | |||||
Beginning balance, value at Dec. 31, 2020 | $ 7,500 | 91,380 | (283) | 26,453 | 11,287 | 136,337 |
Beginning Balance, Shares at Dec. 31, 2020 | 7,500,000 | |||||
Net income | 11,546 | 11,546 | ||||
Other comprehensive income net of tax expense of $139 | (6,694) | (6,694) | ||||
Issuance of common stock | $ 2 | 44 | 46 | |||
Issuance of common stock, Shares | 2,000 | |||||
Issuance of restricted stock | $ 21 | 353 | (374) | |||
Issuance of restricted stock, Shares | 21,000 | |||||
Dividend reinvestment plan | $ 15 | 265 | 280 | |||
Issuance of common stock-Deferred Compensation | $ 10 | 80 | 90 | |||
Dividend reinvestment plan, Shares | 15,000 | |||||
Issuance of common stock-deferred compensation, Shares | 10,000 | |||||
Amortization of compensation on restricted stock | 271 | 271 | ||||
Shares retired | $ (4) | (66) | (70) | |||
Shares forfeited, Shares | (4,000) | |||||
Dividends: Common ($0.12 per share) | (2,693) | (2,693) | ||||
Ending balance, value at Sep. 30, 2021 | $ 7,544 | 92,056 | (386) | 35,306 | 4,593 | 139,113 |
Ending Balance, Shares at Sep. 30, 2021 | 7,544,000 | |||||
Beginning balance, value at Mar. 31, 2021 | $ 7,525 | 91,797 | (573) | 28,812 | 5,126 | 132,687 |
Beginning Balance, Shares at Mar. 31, 2021 | 7,525,000 | |||||
Net income | 3,543 | 3,543 | ||||
Other comprehensive income net of tax expense of $139 | 2,320 | 2,320 | ||||
Issuance of common stock | $ 10 | 80 | 90 | |||
Issuance of common stock, Shares | 10,000 | |||||
Dividend reinvestment plan | $ 5 | 87 | 92 | |||
Dividend reinvestment plan, Shares | 5,000 | |||||
Amortization of compensation on restricted stock | 93 | 93 | ||||
Dividends: Common ($0.12 per share) | (898) | (898) | ||||
Ending balance, value at Jun. 30, 2021 | $ 7,540 | 91,964 | (480) | 31,457 | 7,446 | 137,927 |
Ending Balance, Shares at Jun. 30, 2021 | 7,540,000 | |||||
Net income | 4,748 | 4,748 | ||||
Other comprehensive income net of tax expense of $139 | (2,853) | (2,853) | ||||
Dividend reinvestment plan | $ 4 | 92 | 96 | |||
Dividend reinvestment plan, Shares | 4,000 | |||||
Amortization of compensation on restricted stock | 94 | 94 | ||||
Dividends: Common ($0.12 per share) | (899) | (899) | ||||
Ending balance, value at Sep. 30, 2021 | $ 7,544 | $ 92,056 | $ (386) | $ 35,306 | $ 4,593 | $ 139,113 |
Ending Balance, Shares at Sep. 30, 2021 | 7,544,000 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of Stockholders' Equity [Abstract] | ||||||||
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, Tax | $ (759) | $ (616) | $ 1,637 | $ 139 | $ 1,196 | $ 899 | $ 1,780 | $ 2,234 |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.12 | $ 0.36 | $ 0.36 |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, Tax | $ 759 | $ 616 | $ (1,637) | $ (139) | $ (1,196) | $ (899) | $ (1,780) | $ (2,234) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Cash flows from operating activities: | |||||||
Net income | $ 4,748 | $ 3,255 | $ 2,652 | $ 1,794 | $ 11,546 | $ 6,663 | |
Adjustments to reconcile net income to net cash provided (used) from operating activities: | |||||||
Depreciation | 1,276 | 1,218 | |||||
Net premium amortization | 1,694 | 1,504 | |||||
Provision for loan losses | 49 | 1,062 | 394 | 3,387 | $ 3,663 | ||
Origination of loans held-for-sale | (107,648) | (140,972) | |||||
Sale of loans held-for-sale | 146,455 | 114,540 | |||||
Write-down of other real estate owned | 50 | 78 | |||||
Gain on sale of fixed assets | (13) | ||||||
Gain on sale of other real estate owned | (141) | (77) | (147) | ||||
Gain on sale of securities | (99) | (99) | |||||
Amortization of intangibles | 52 | 95 | 161 | 295 | |||
Accretion on acquired loans | (112) | (230) | |||||
Loss (gain) on fair value of equity investments | (2) | 2 | |||||
Increase (decrease) in other assets | 1,108 | (1,704) | |||||
Decrease in other liabilities | (894) | (510) | |||||
Net cash provided (used) from operating activities | 53,938 | (15,975) | |||||
Cash flows from investing activities: | |||||||
Purchase of investment securities available-for-sale | (201,414) | (34,059) | |||||
Purchase of other investment securities | (62) | (70) | |||||
Maturity/call of investment securities available-for-sale | 37,613 | 34,429 | |||||
Increase in loans | (37,153) | (107,163) | |||||
Proceeds from sale of securities available-for-sale | 2,200 | ||||||
Proceeds from sale of other securities | 355 | ||||||
Proceeds from sale of fixed assets | 724 | ||||||
Proceeds from sale of other real estate owned | 201 | 227 | |||||
Purchase of property and equipment | (486) | (737) | |||||
Net cash used in investing activities | (200,222) | (105,173) | |||||
Cash flows from financing activities: | |||||||
Increase in deposit accounts | 144,155 | 185,350 | |||||
Increase in securities sold under agreements to repurchase | 18,907 | 13,846 | |||||
Advances from the Federal Home Loan Bank | 34,001 | ||||||
Repayment of advances from Federal Home Loan Bank | (34,212) | ||||||
Shares retired / forfeited | (70) | (15) | (70) | (15) | |||
Dividends paid: Common Stock | (2,693) | (2,678) | |||||
Issuance of deferred compensation shares | 90 | 200 | |||||
Proceeds from issuance of Common Stock | 46 | 4 | |||||
Change in non-vested restricted stock | 94 | 84 | 69 | 52 | 271 | 190 | |
Dividend reinvestment plan | 280 | 280 | |||||
Net cash provided from financing activities | 160,986 | 196,966 | |||||
Net increase in cash and cash equivalents | 14,702 | 75,818 | |||||
Cash and cash equivalents at beginning of period | $ 64,992 | $ 47,692 | 64,992 | 47,692 | 47,692 | ||
Cash and cash equivalents at end of period | $ 79,694 | $ 123,510 | 79,694 | 123,510 | $ 64,992 | ||
Cash paid during the period for: | |||||||
Interest | 2,850 | 3,429 | |||||
Income taxes | 3,827 | 2,688 | |||||
Non-cash investing and financing activities: | |||||||
Unrealized gain (loss) on securities, net of tax | (6,694) | 8,406 | |||||
Transfer of loans to foreclosed property | $ 145 | $ 78 |
Nature of Business and Basis of
Nature of Business and Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business and Basis of Presentation | Note 1— Nature of Business and Basis of Presentation Basis of Presentation In the opinion of management, the accompanying unaudited consolidated balance sheets, and the consolidated statements of income, comprehensive income, changes in shareholders’ equity, and the cash flows of First Community Corporation (the “Company”) and its wholly owned subsidiary, First Community Bank (the “Bank”), present fairly in all material respects the Company’s financial position at September 30, 2021 and December 31, 2020, and the Company’s results of operations for the three and nine months ended September 30, 2021 and 2020 and cash flows for the nine months ended September 30, 2021 and 2020. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. In the opinion of management, all adjustments necessary to fairly present the consolidated financial position and consolidated results of operations have been made. All such adjustments are of a normal, recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements and notes thereto are presented in accordance with the instructions for Quarterly Reports on Form 10-Q. The information included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 should be referred to in connection with these unaudited interim financial statements. Risk and Uncertainties The coronavirus (COVID-19) pandemic, which was declared a national emergency in the United States in March 2020, continues to create extensive disruptions to the global economy and financial markets and to businesses and the lives of individuals throughout the world. The impact of the COVID-19 pandemic is fluid and continues to evolve, adversely affecting many of the Bank’s customers. The unprecedented and rapid spread of COVID-19 and its associated impacts on trade (including supply chains and export levels), travel, employee productivity, unemployment, consumer spending, and other economic activities has resulted in less economic activity, significant volatility and disruption in financial markets. There have been encouraging signs of strength in the economic recovery, including growth in consumer spending and improvement in the labor market, but many businesses continue to face difficulty in hiring employees and meeting consumer demand, and certain portions of the global supply chain remain challenged by shortages and delays that first occurred due to the initial COVID-19 outbreak. There remains uncertainty about the pace of economic recovery, including uncertainty related to the labor market, inflation and fiscal and monetary policy responses from the federal government. In addition, due to the COVID-19 pandemic, market interest rates declined significantly, with the 10-year Treasury bond falling to a low of 0.52% in early August 2020, but increasing significantly since that time to 1.74% at March 31, 2021, then declining to 1.45% at June 30, 2021, but increasing to 1.52% at September 30, 2021. In March 2020, the Federal Open Market Committee reduced the targeted federal funds interest rate to a range from 0% to 0.25%, and this low targeted range was still in effect as of September 30, 2021. These reductions in interest rates and the other effects of the COVID-19 pandemic have had, and are expected to continue to have, possibly materially, an adverse effect on the Company’s business, financial condition and results of operations. The ultimate extent of the impact of the COVID-19 pandemic on the Company’s business, financial condition and results of operations is currently uncertain and will depend on various developments and other factors, including the effect of governmental and private sector initiatives, the effect of the continued rollout of vaccinations for the virus, whether such vaccinations will be effective against another resurgence of the virus, including any new strains, and the ability for customers and businesses to return to their pre-pandemic routines. Beginning in March 2020, the Company proactively offered payment deferrals for up to 90 days to its loan customers. The Company continues to consider potential deferrals with respect to certain customers, which are evaluated on a case-by-case basis. At its peak, which occurred during the second quarter of 2020, the Company granted payment deferments on loans totaling $206.9 million. As a result of payments being resumed by loan customers at the conclusion of their payment deferral period, loans for which payments were being deferred decreased from the peak of $206.9 million to $175.0 million at June 30, 2020, to $27.3 million at September 30, 2020, to $16.1 million at December 31, 2020, to $8.7 million at March 31, 2021, to $4.5 million at June 30, 2021, and to $4.1 million at September 30, 2021. Some of these deferments were to businesses that temporarily closed or reduced operations and some were requested as a pre-cautionary measure to conserve cash. The Company proactively offered deferrals to its customers regardless of the impact of the pandemic on their business or personal finances. The Company has evaluated its exposure to certain industry segments most impacted by the COVID-19 pandemic Industry Segments Outstanding % of Loan (Dollars in millions) Loan Balance Portfolio Hotels $ 34.7 3.9% Restaurants $ 22.6 2.6% Assisted Living $ 8.4 1.0% Retail $ 90.2 10.2% |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Note 2— Earnings Per Common Share The following reconciles the numerator and denominator of the basic and diluted earnings per common share computation: Schedule of Earning Per Common Share (In thousands except average market price and per share data) Nine months Three months Ended September 30, Ended September 30, 2021 2020 2021 2020 Numerator (Net income available to common shareholders) $ 11,546 $ 6,663 $ 4,748 $ 2,652 Denominator Weighted average common shares outstanding for: Basic shares 7,487 7,440 7,499 7,458 Dilutive securities: Deferred compensation 28 24 31 13 Restricted stock – Treasury stock method 25 11 26 11 Diluted shares 7,540 7,475 7,556 7,482 Earnings per common share: Basic 1.54 0.90 0.63 0.36 Diluted 1.53 0.89 0.63 0.35 The average market price used in calculating assumed number of shares $ 19.37 $ 15.87 $ 20.20 $ 13.69 Non-Employee Director Deferred Compensation Plan Under the Company’s Non-Employee Director Deferred Compensation Plan, as amended and restated effective as of January 1, 2021, a director may elect to defer all or any part of annual retainer and monthly meeting fees payable with respect to service on the board of directors or a committee of the board. Units of common stock are credited to the director’s account as of the last day of such calendar quarter during which the compensation is earned and are included in dilutive securities in the table above. The non-employee director’s account balance is distributed by issuance of common stock within 30 days following such director’s separation from service from the board of directors. At September 30, 2021 and December 31, 2020, there were 84,565 and 88,412 units in the plan, respectively. 1.1 million First Community Corporation 2011 Stock Incentive Plan In 2011, the Company and its shareholders adopted a stock incentive plan whereby 350,000 shares were reserved for issuance by the Company upon the grant of stock options or restricted stock awards under the plan (the “2011 Plan”). The 2011 Plan provided for the grant of options to key employees and directors as determined by a stock option committee made up of at least two members of the board of directors. Options are exercisable for a period of ten years from the date of grant. There were no stock options outstanding and exercisable at September 30, 2021, December 31, 2020 and September 30, 2020. At December 31, 2020, the Company had 94,910 Under the 2011 Plan, the employee restricted shares and units cliff vest over a three-year period and the non-employee director shares vest approximately one year after issuance. The unrecognized compensation cost at September 30, 2021 and December 31, 2020 for non-vested shares amounts to $ 386.1 thousand 283.1 thousand 70.7 thousand 107.4 thousand Historically, the Company granted time-based equity awards that vested based on continued service. Beginning in 2021 and in addition to time-based equity awards, the Company began granting performance-based equity awards in the form of performance-based restricted stock units, with the target number of performance-based restricted stock units for the Company’s Chief Executive Officer and other executive officers representing 50% of total target equity awards. These performance-based restricted stock units cliff vest over three years and include conditions based on the following performance measures: total shareholder return, return on average equity, and non-performing assets. The Company granted 13,302 performance-based restricted stock units with a fair value of $234.0 thousand during the first nine months of 2021. The Company granted no performance-based restricted stock units in 2020. The related compensation cost for the performance-based restricted stock units is accrued over the vesting period and was $45.5 thousand during the first nine months of 2021. The total related compensation cost for restricted stock units was $116.2 thousand and $107.4 thousand at September 30, 2021, and December 31, 2020, respectively, including both time-based and performance-based restricted stock units. First Community Corporation 2021 Omnibus Equity Incentive Plan In 2021, the Company and its shareholders adopted an omnibus equity incentive plan whereby 225,000 |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Note 3— Investment Securities The amortized cost and estimated fair values of investment securities are summarized below: Schedule of Investment Available-For-Sale AVAILABLE-FOR-SALE: Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value September 30, 2021 US Treasury securities $ 15,729 $ — $ 346 $ 15,383 Government Sponsored Enterprises 2,498 2 — 2,500 Mortgage-backed securities 364,826 4,630 3,501 365,955 Small Business Administration pools 32,083 630 57 32,656 State and local government 85,528 4,722 344 89,906 Corporate and other securities 7,023 171 94 7,100 $ 507,687 $ 10,155 $ 4,342 $ 513,500 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value December 31, 2020 US Treasury securities $ 1,501 $ 1 $ — $ 1,502 Government Sponsored Enterprises 996 10 — 1,006 Mortgage-backed securities 222,739 7,375 185 229,929 Small Business Administration pools 34,577 928 7 35,498 State and local government 82,495 6,184 76 88,603 Corporate and other securities 3,272 56 — 3,328 $ 345,580 $ 14,554 $ 268 $ 359,866 There were no investment securities listed as held-to-maturity as of September 30, 2021 or December 31, 2020. During the nine months ended September 30, 2021, the Company did not receive any proceeds from the sale of investment securities available-for-sale. During the nine months ended September 30, 2020, the company received $2.2 million from the sale of investment securities available-for-sale. For the nine months ended September 30, 2021, there were no gross realized gains or losses from the sale of investment securities available-for-sale. For the nine months ended September 30, 2020, there were $99 thousand in gross realized gains from the sale of investment securities available-for-sale. At September 30, 2021, corporate and other securities available-for-sale included the following at fair value: corporate fixed-to-float bonds at $ 7.1 million 10.4 thousand 10.0 thousand 2.4 thousand 2.1 thousand 3.3 million 8.0 thousand 10.0 thousand 698.4 thousand 1.0 million 61.7 thousand 1.1 million 1.0 million The following tables show gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position, at September 30, 2021 and December 31, 2020. Schedule of gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position (Dollars in thousands) Less than 12 months 12 months or more Total September 30, 2021 Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities: Value Loss Value Loss Value Loss US Treasury Securities $ 15,384 $ 346 $ — $ — $ 15,384 $ 346 Mortgage-backed securities 215,705 3,316 15,164 185 230,869 3,501 Small Business Administration pools 7,296 57 — — 7,296 57 State and local government 15,992 344 — — 15,992 344 Corporate and other securities 2,163 94 — — 2,163 94 Total $ 256,540 $ 4,157 $ 15,164 $ 185 $ 271,704 $ 4,342 (Dollars in thousands) Less than 12 months 12 months or more Total December 31, 2020 Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities: Value Loss Value Loss Value Loss Mortgage-backed securities 21,298 152 1,414 33 22,712 185 Small Business Administration pools — — 1,323 7 1,323 7 State and local government 4,930 76 — — 4,930 76 Total $ 26,228 $ 228 $ 2,737 $ 40 $ 28,965 $ 268 Government Sponsored Enterprise, Mortgage-Backed Securities: 396.9 million 257.3 million 398.6 million 265.4 million Non-agency Mortgage Backed Securities: 49.1 thousand 47.1 thousand 57.4 thousand 54.7 thousand State and Local Governments and Other: The following sets forth the amortized cost and fair value of investment securities at September 30, 2021 by contractual maturity. Expected maturities differ from contractual maturities because borrowers may have the right to call or prepay the obligations with or without prepayment penalties. MBSs are based on average life at estimated prepayment speeds. Schedule of the amortized cost and fair value of investment securities by expected maturity Available-for-sale September 30, 2021 Amortized Fair (Dollars in thousands) Cost Value Due in one year or less $ 23,039 $ 23,211 Due after one year through five years 167,304 170,323 Due after five years through ten years 178,906 182,562 Due after ten years 138,438 137,404 Total $ 507,687 $ 513,500 |
Loans
Loans | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Loans | Note 4— Loans The following table summarizes the composition of our loan portfolio. Total loans are recorded net of deferred loan fees and costs, which totaled $1.7 million and $2.2 million as of September 30, 2021 and December 31, 2020, respectively. Schedule of Loan Portfolio September 30, December 31, (Dollars in thousands) 2021 2020 Commercial, financial and agricultural $ 80,796 $ 96,688 Real estate: Construction 100,061 95,282 Mortgage-residential 44,987 43,928 Mortgage-commercial 620,130 573,258 Consumer: Home equity 27,233 26,442 Other 8,313 8,559 Total loans, net of deferred loan fees and costs $ 881,520 $ 844,157 Commercial, financial, and agricultural category includes $ 9.1 million 42.2 million The detailed activity in the allowance for loan losses and the recorded investment in loans receivable as of and for the three months ended and nine months ended September 30, 2021 and September 30, 2020 and for the year ended December 31, 2020 is as follows: Schedule of activity in the allowance for loan losses and the recorded investment in loans receivable (Dollars in thousands) Commercial Real estate Real estate Real estate Consumer Consumer Unallocated Total Three months ended September 30, 2021 Allowance for loan losses: Beginning balance June 30, 2021 $ 894 $ 125 $ 542 $ 8,026 $ 322 $ 111 $ 618 $ 10,638 Charge-offs — — — — — (21 ) — (21 ) Recoveries 22 — — 304 28 5 — 359 Provisions (31 ) (29 ) (1 ) 106 (24 ) 23 5 49 Ending balance September 30, 2021 $ 885 $ 96 $ 541 $ 8,436 $ 326 $ 118 $ 623 $ 11,025 Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer (Dollars in thousands) Commercial Construction Residential Commercial equity Other Unallocated Total Nine months ended September 30, 2021 Allowance for loan losses: Beginning balance December 31, 2020 $ 778 $ 145 $ 541 $ 7,855 $ 324 $ 125 $ 621 $ 10,389 Charge-offs — — — (110 ) — (57 ) — (167 ) Recoveries 25 — — 315 34 35 — 409 Provisions 82 (49 ) — 376 (32 ) 15 2 394 Ending balance September 30, 2021 $ 885 $ 96 $ 541 $ 8,436 $ 326 $ 118 $ 623 $ 11,025 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 1 $ — $ — $ — $ 1 Collectively evaluated for impairment 885 96 541 8,435 326 118 623 11,024 September 30, 2021 Loans receivable: Ending balance-total $ 80,796 $ 100,061 $ 44,987 $ 620,130 $ 27,233 $ 8,313 $ — $ 881,520 Ending balances: Individually evaluated for impairment — — 207 1,605 20 — — 1,832 Collectively evaluated for impairment $ 80,796 $ 100,061 $ 44,780 $ 618,525 $ 27,213 $ 8,313 $ — $ 879,688 (Dollars in thousands) Commercial Real estate Real estate Real estate Consumer Consumer Unallocated Total Three months ended September 30, 2020 Allowance for loan losses: Beginning balance June 30, 2020 $ 769 $ 165 $ 497 $ 6,469 $ 293 $ 132 $ 611 $ 8,936 Charge-offs — (2 ) — (1 ) — (22 ) — (25 ) Recoveries 118 2 — 4 1 15 — 140 Provisions (59 ) 12 96 982 36 (2 ) (3 ) 1,062 Ending balance September 30, 2020 $ 828 $ 177 $ 593 $ 7,454 $ 330 $ 123 $ 608 $ 10,113 (Dollars in thousands) Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer Commercial Construction Residential Commercial equity Other Unallocated Total Nine months ended September 30, 2020 Allowance for loan losses: Beginning balance December 31, 2019 $ 427 $ 111 $ 367 $ 4,602 $ 240 $ 97 $ 783 $ 6,627 Charge-offs — (2 ) — (1 ) — (70 ) — (73 ) Recoveries 121 2 — 13 2 34 — 172 Provisions 280 66 226 2,840 88 62 (175 ) 3,387 Ending balance September 30, 2020 $ 828 $ 177 $ 593 $ 7,454 $ 330 $ 123 $ 608 $ 10,113 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 3 $ — $ — $ — $ 3 Collectively evaluated for impairment 828 177 593 7,451 330 123 608 10,110 September 30, 2020 Loans receivable: Ending balance-total $ 108,006 $ 89,250 $ 49,215 $ 561,932 $ 27,618 $ 8,439 $ — $ 844,460 Ending balances: Individually evaluated for impairment — — 327 2,850 47 — — 3,224 Collectively evaluated for impairment $ 108,006 $ 89,250 $ 48,888 $ 559,082 $ 27,571 $ 8,439 $ — $ 841,236 Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer (Dollars in thousands) Commercial Construction Residential Commercial equity Other Unallocated Total December 31, 2020 Allowance for loan losses: Beginning balance December 31, 2019 $ 427 $ 111 $ 367 $ 4,602 $ 240 $ 97 $ 783 $ 6,627 Charge-offs — (2 ) — (1 ) — (107 ) — (110 ) Recoveries 130 2 — 23 2 52 — 209 Provisions 221 34 174 3,231 82 83 (162 ) 3,663 Ending balance December 31, 2020 $ 778 $ 145 $ 541 $ 7,855 $ 324 $ 125 $ 621 $ 10,389 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 2 $ — $ — $ — $ 2 Collectively evaluated for impairment 778 145 541 7,853 324 125 621 10,387 December 31, 2020 Loans receivable: Ending balance-total $ 96,688 $ 95,282 $ 43,928 $ 573,258 $ 26,442 $ 8,559 $ — $ 844,157 Ending balances: Individually evaluated for impairment — — 440 5,631 42 — — 6,113 Collectively evaluated for impairment 96,688 95,282 43,488 567,627 26,400 8,559 — 838,044 The following tables as of September 30, 2021, September 30, 2020, and December 31, 2020, are by loan category and present loans individually evaluated and considered impaired under FASB ASC 310 “Accounting by Creditors for Impairment of a Loan.” Impairment includes performing TDRs. Schedule of loan category and loans individually evaluated and considered impaired (Dollars in thousands) Nine months ended Three months ended Unpaid Average Interest Average Interest Recorded Principal Related Recorded income Recorded Income September 30, 2021 Investment Balance Allowance Investment Recognized Investment Recognized With no allowance recorded: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 207 259 — 196 8 133 3 Mortgage-commercial 1,538 3,869 — 2,239 183 1,772 57 Consumer: Home equity 20 25 — 21 1 19 — Other — — — — — — — With an allowance recorded: Commercial, financial, agricultural — — — — — — — Real estate: Construction — — — — — — — Mortgage-residential — — — — — — — Mortgage-commercial 67 67 1 104 5 67 1 Consumer: Home equity — — — — — — — Other — — — — — — — Total: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 207 259 — 196 8 133 3 Mortgage-commercial 1,605 3,936 1 2,343 188 1,839 58 Consumer: Home equity 20 25 — 21 1 19 — Other — — — — — — — $ 1,832 4,220 $ 1 $ 2,560 $ 197 $ 1,991 $ 61 (Dollars in thousands) Nine months ended Three months ended Unpaid Average Interest Average Interest Recorded Principal Related Recorded income Recorded Income September 30, 2020 Investment Balance Allowance Investment Recognized Investment Recognized With no allowance recorded: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 327 405 — 337 11 323 9 Mortgage-commercial 2,706 5,450 — 3,071 217 3,013 73 Consumer: Home equity 47 51 — 50 2 46 1 Other — — — — — — — With an allowance recorded: Commercial, financial, agricultural — — — — — — — Real estate: Construction — — — — — — — Mortgage-residential — — — — — — — Mortgage-commercial 144 144 3 200 9 142 2 Consumer: Home equity — — — — — — — Other — — — — — — — Total: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 327 405 — 337 11 323 9 Mortgage-commercial 2,850 5,594 3 3,271 226 3,155 75 Consumer: Home equity 47 51 — 50 2 46 1 Other — — — — — — — $ 3,224 6,050 $ 3 $ 3,658 $ 239 $ 3,524 $ 85 Unpaid Average Interest (Dollars in thousands) Recorded Principal Related Recorded Income December 31, 2020 Investment Balance Allowance Investment Recognized With an allowance recorded: Commercial — — — — — With no allowance recorded: Commercial $ — $ — $ — $ — $ — Real estate: Construction — — — — — Mortgage-residential 440 499 — 440 1 Mortgage-commercial 5,508 7,980 — 5,770 388 Consumer: Home Equity 42 47 — 42 3 Other — — — — — With an allowance recorded: Commercial — — — — — Real estate: Construction — — — — — Mortgage-residential — — — — — Mortgage-commercial 123 123 2 123 11 Consumer: Home Equity — — — — — Other — — — — — Total: Commercial — — — — — Real estate: Construction — — — — — Mortgage-residential 440 499 — 440 1 Mortgage-commercial 5,631 8,103 2 5,893 399 Consumer: Home Equity 42 47 — 42 3 Other — — — — — $ 6,113 $ 8,649 $ 2 $ 6,375 $ 403 The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, including current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a monthly basis. The Company uses the following definitions for risk ratings: Special Mention Substandard Doubtful Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered as pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is shown in the table below as of September 30, 2021 and December 31, 2020. As of September 30, 2021 and December 31, 2020, no loans were classified as doubtful. Schedule of loan category and loan by risk categories (Dollars in thousands) Special September 30, 2021 Pass Mention Substandard Doubtful Total Commercial, financial & agricultural $ 80,637 $ 159 $ — $ — $ 80,796 Real estate: Construction 100,056 5 — — 100,061 Mortgage – residential 44,451 315 221 — 44,987 Mortgage – commercial 611,406 2,157 6,567 — 620,130 Consumer: Home Equity 25,822 215 1,196 — 27,233 Other 8,306 — 7 — 8,313 Total $ 870,678 $ 2,851 $ 7,991 $ — $ 881,520 (Dollars in thousands) Special December 31, 2020 Pass Mention Substandard Doubtful Total Commercial, financial & agricultural $ 96,507 $ 181 $ — $ — $ 96,688 Real estate: Construction 95,282 — — — 95,282 Mortgage – residential 43,240 190 498 — 43,928 Mortgage – commercial 559,982 7,270 6,006 — 573,258 Consumer: Home Equity 25,041 95 1,306 — 26,442 Other 8,538 21 — — 8,559 Total $ 828,590 $ 7,757 $ 7,810 $ — $ 844,157 At September 30, 2021 and December 31, 2020, non-accrual loans totaled $359 thousand and $4.67 million, respectively. TDRs that are still accruing and included in impaired loans at September 30, 2021 and at December 31, 2020 amounted to $ 1.5 million 1.6 million Loans greater than 90 days delinquent and still accruing interest were $ 0 1.3 million The following tables are by loan category and present loans past due and on non-accrual status as of September 30, 2021 and December 31, 2020: Schedule of loan category and present loans past due and on non-accrual status Greater than (Dollars in thousands) 30-59 Days 60-89 Days 90 Days and Total September 30, 2021 Past Due Past Due Accruing Nonaccrual Past Due Current Total Loans Commercial $ 42 $ — $ — $ 131 $ 173 $ 80,623 $ 80,796 Real estate: Construction — — — — — 100,061 100,061 Mortgage-residential 56 — — 208 264 44,723 44,987 Mortgage-commercial — — — — — 620,130 620,130 Consumer: Home equity 161 — — 20 181 27,052 27,233 Other 8 — — — 8 8,305 8,313 $ 267 $ — $ — $ 359 $ 626 $ 880,894 $ 881,520 Greater than (Dollars in thousands) 30-59 Days 60-89 Days 90 Days and Total December 31, 2020 Past Due Past Due Accruing Nonaccrual Past Due Current Total Loans Commercial $ 165 $ 27 $ — $ 4,080 $ 4,272 $ 92,416 $ 96,688 Real estate: Construction 424 — 1,260 — 1,684 93,598 95,282 Mortgage-residential 7 — — 440 447 43,481 43,928 Mortgage-commercial — — — — — 573,258 573,258 Consumer: Home equity — — — 42 42 26,400 26,442 Other 21 21 — — 42 8,517 8,559 $ 617 $ 48 $ 1,260 $ 4,562 $ 6,487 $ 837,670 $ 844,157 The Cares COVID-19 Related Troubled Debt Restructurings and Loan Modifications for Affected Borrowers The Company is focused on servicing the financial needs of its commercial and consumer customers with flexible loan payment arrangements, including short-term loan modifications or forbearance payments and reducing or waiving certain fees on deposit accounts. Future governmental actions may require these and other types of customer-related responses. Beginning in March 2020, the Company proactively offered payment deferrals for up to 90 days to its loan customers regardless of the impact of the pandemic on their business or personal finances. The Company continues to consider potential deferrals with respect to certain customers, which are evaluated on a case-by-case basis. At its peak, which occurred during the second quarter of 2020, the Company granted payment deferments on loans totaling $206.9 million. As a result of payments being resumed at the conclusion of their payment deferral period, loans in which payments were being deferred decreased from the peak of $206.9 million to $175.0 million at June 30, 2020, to $27.3 million at September 30, 2020, to $16.1 million at December 31, 2020, to $8.7 million at March 31, 2021, $4.5 million at June 30, 2021, and $4.1 million at September 30, 2021. The Company had no loans remaining on initial deferral status in which both principal and interest were deferred at December 31, 2020, March 31, 2021, June 30, 2021, and September 30, 2021. The $4.1 million in deferrals at September 30, 2021 related to one loan to an events/meeting center. Troubled Debt Restructurings. In the determination of the allowance for loan losses, all TDRs are reviewed to ensure that one of the three proper valuation methods (fair market value of the collateral, present value of cash flows, or observable market price) is adhered to. All non-accrual loans are written down to their corresponding collateral value. All troubled TDR accruing loans that have a loan balance that exceeds the present value of cash flows will have a specific allocation. All nonaccrual loans are considered impaired. Under ASC 310-10, a loan is impaired when it is probable that the Company will be unable to collect all amounts due including both principal and interest according to the contractual terms of the loan agreement. Acquired credit-impaired loans are accounted for under the accounting guidance for loans and debt securities acquired with deteriorated credit quality, found in FASB ASC Topic 310-30, ( Receivables—Loans and Debt Securities Acquired with Deteriorated Credit Quality) A summary of changes in the accretable yield for purchased credit-impaired loans for the three months and nine months ended September 30, 2021 and September 30, 2020 are as follows: Schedule for changes in the accretable yield for PCI loans (Dollars in thousands) Three Months Three Months Accretable yield, beginning of period $ 79 $ 108 Accretion (8 ) (7 ) Accretable yield, end of period $ 71 $ 101 (Dollars in thousands) Nine Months Nine Months Accretable yield, beginning of period $ 93 $ 123 Accretion (22 ) (22 ) Accretable yield, end of period $ 71 $ 101 At September 30, 2021 and December 31, 2020, the recorded investment in purchased impaired loans was $ 109 110 157 171 |
Recently Issued Accounting Pron
Recently Issued Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Changes and Error Corrections [Abstract] | |
Recently Issued Accounting Pronouncements | Note 5— Recently Issued Accounting Pronouncements The following is a summary of recent authoritative pronouncements: In June 2016, the FASB issued guidance to change the accounting for credit losses and modify the impairment model for certain debt securities. The amendments will be effective for the Company for reporting periods beginning after December 15, 2022. Early adoption is permitted for all organizations for periods beginning after December 15, 2018. The Company is evaluating the impact that this will have on its financial statements. In November 2019, the FASB issued guidance to defer the effective dates for private companies, not-for-profit organizations, and certain smaller reporting companies applying standards on current expected credit losses (CECL), leases, hedging. The new effective date for the Company for CECL will be fiscal years beginning after December 15, 2022 including interim periods within those fiscal years. The Company is evaluating the impact that this will have on its financial statements. In November 2019, the FASB issued guidance that addresses issues raised by stakeholders during the implementation of ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments affect a variety of topics in the ASC. For entities that have not yet adopted the amendments in ASU 2016-13, the amendments are effective for fiscal years beginning after December 15, 2022 including interim periods within those fiscal years-all other entities. Early adoption is permitted in any interim period as long as an entity has adopted the amendments in ASU 2016-13. The Company is evaluating the impact that this will have on its financial statements. In December 2019, the FASB issued guidance to simplify accounting for income taxes by removing specific technical exceptions that often produce information investors have a hard time understanding. The amendments also improve consistent application of, and simplify, GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The amendments became effective for the Company for interim and annual periods beginning after December 15, 2020 and did not have a material effect on its financial statements. In January 2020, the FASB issued guidance to address accounting for the transition into and out of the equity method and measuring certain purchased options and forward contracts to acquire investments. The amendments became effective for the Company for interim and annual periods beginning after December 15, 2020 and did not have a material effect on its financial statements. In March 2020, the FASB issued guidance that makes narrow-scope improvements to various aspects of the financial instrument guidance, including the CECL guidance issued in 2016. For public business entities, the amendments were effective upon issuance of the final ASU. For all other entities, the amendments were effective for fiscal years beginning after December 15, 2019, and were effective for interim periods within those fiscal years beginning after December 15, 2020. The effective date of the amendments to ASU 2016-01 were effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For the amendments related to ASU 2016-13, public business entities that meet the definition of an SEC filer, excluding eligible smaller reporting companies (as defined by the SEC), should adopt the amendments in ASU 2016-13 during 2020. All other entities should adopt the amendments in ASU 2016-13 during 2023. Early adoption is permitted. For entities that have not yet adopted the guidance in ASU 2016-13, the effective dates and the transition requirements for these amendments are the same as the effective date and transition requirements in ASU 2016-13. For entities that have adopted the guidance in ASU 2016-13, the amendments were effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For those entities, the amendments should be applied on a modified-retrospective basis by means of a cumulative-effect adjustment to opening retained earnings in the statement of financial position as of the date that an entity adopted the amendments in ASU 2016-13. On November 15, 2019, FASB issued ASU 2019-10, which delayed the effective date for the ASU 2016-13 for smaller public business entities, including Community Banks, and nonpublic business entities to January 1, 2023. The Company does not expect these amendments to have a material effect on its financial statements. In March 2020, the FASB issued guidance to provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. This ASU is intended to help stakeholders during the global market-wide reference rate transition period. The amendments are effective through December 31, 2022. The Company does not expect these amendments to have a material effect on its financial statements. In August 2020, the FASB issued guidance to improve financial reporting associated with accounting for convertible instruments and contracts in an entity’s own equity. The amendments will be effective the Company for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. The Company does not expect these amendments to have a material effect on its financial statements. In October 2020, the FASB issued guidance to clarify the FASB’s intent that an entity should reevaluate whether a callable debt security that has multiple call dates is within the scope of FASB ASC 310-20-35-33 for each reporting period. The amendments were effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020 and did not have a material effect on the Company’s financial statements. In October 2020, the FASB issued amendments to clarify the ASC and make minor improvements that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments were effective for annual periods beginning after December 15, 2020 and did not have a material effect on the Company’s financial statements. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 6— Fair Value of Financial Instruments The Company adopted FASB ASC Fair Value Measurement Topic 820, which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level l Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. FASB ASC 825-10-50 “Disclosure about Fair Value of Financial Instruments”, requires the Company to disclose estimated fair values for its financial instruments. The Company’s fair value estimates, methods, and assumptions are set forth below. Cash and Short Term Investments - Investment Securities Available-for-Sale - Loans Held-for-Sale - Loans - Other Real Estate Owned (“OREO”) - Accrued Interest Receivable Deposits - Securities Sold Under Agreements to Repurchase - Junior Subordinated Debt - Accrued Interest Payable - Commitments to Extend Credit The carrying amount and estimated fair value by classification level of the Company’s financial instruments as of September 30, 2021 and December 31, 2020 are as follows: Fair Value, by Balance Sheet Grouping September 30, 2021 Carrying Fair Value (Dollars in thousands) Amount Total Level 1 Level 2 Level 3 Financial Assets: Cash and short term investments $ 24,435 $ 24,435 $ 24,435 $ — $ — Investment securities available-for-sale 513,500 513,500 16,970 496,530 — Other investments, at cost 1,760 1,760 — — 1,760 Loans held-for-sale 6,213 6,213 — 6,213 — Net loans receivable 870,495 861,029 — — 861,029 Accrued interest receivable 3,748 3,748 3,748 — — Financial liabilities: Non-interest bearing demand $ 430,938 $ 430,938 $ — $ 430,938 $ — Interest bearing demand deposits and money market accounts 605,147 605,147 — 605,147 — Savings 141,084 141,084 — 141,084 — Time deposits 156,399 156,829 — 156,829 — Total deposits 1,333,568 1,333,998 — 1,333,998 — Securities sold under agreements to repurchase 59,821 59,821 — 59,821 — Junior subordinated debt 14,964 14,410 — 14,410 — Accrued interest payable 434 434 434 — — December 31, 2020 Carrying Fair Value (Dollars in thousands) Amount Total Level 1 Level 2 Level 3 Financial Assets: Cash and short term investments $ 64,992 $ 64,992 $ 64,992 $ — $ — Investment securities available-for-sale 359,866 359,866 20,564 339,302 — Other investments, at cost 2,053 2,053 — — 2,053 Loans held for sale 45,020 45,020 — 45,020 — Net loans receivable 833,768 829,685 — — 829,685 Accrued interest receivable 4,167 4,167 4,167 — — Financial liabilities: Non-interest bearing demand $ 385,511 $ 385,511 $ — $ 385,511 $ — Interest bearing demand deposits and money market accounts 520,205 520,205 — 520,205 — Savings 123,032 123,032 — 123,032 — Time deposits 160,665 161,505 — 61,505 — Total deposits 1,189,413 1,190,253 — 1,190,253 — Securities sold under agreements to repurchase 40,914 40,914 — 40,914 — Junior subordinated debt 14,964 11,748 — 11,748 — Accrued interest payable 667 667 667 — — The following tables summarize quantitative disclosures about the fair value for each category of assets carried at fair value as of September 30, 2021 and December 31, 2020 that are measured on a recurring basis. There were no liabilities carried at fair value as of September 30, 2021 or December 31, 2020 that are measured on a recurring basis. Fair Value, Assets Measured on Recurring Basis (Dollars in thousands) Description September 30, Quoted Prices Significant Significant Available-for-sale securities US treasury securities $ 15,383 $ — $ 15,383 $ — Government sponsored enterprises 2,500 — 2,500 — Mortgage-backed securities 365,955 15,170 350,785 — Small Business Administration pools 32,656 — 32,656 — State and local government 89,906 1,800 88,106 — Corporate and other securities 7,100 — 7,100 — Total Available-for-sale securities 513,500 16,970 496,530 — Loans held-for-sale 6,213 — 6,213 — Total $ 519,713 $ 16,970 $ 502,743 $ — (Dollars in thousands) Description December 31, (Level 1) (Level 2) (Level 3) Available- for-sale securities US Treasury Securities $ 1,502 $ — $ 1,502 $ — Government Sponsored Enterprises 1,006 — 1,006 — Mortgage-backed securities 229,929 17,029 212,900 — Small Business Administration pools 35,498 — 35,498 — State and local government 88,603 3,535 85,068 — Corporate and other securities 3,328 — 3,328 — Total Available-for-sale securities 359,866 20,564 339,302 — Loans held for sale 45,020 — 45,020 — Total $ 404,886 $ 20,564 $ 384,322 $ — The following tables summarize quantitative disclosures about the fair value for each category of assets carried at fair value as of September 30, 2021 and December 31, 2020 that are measured on a non-recurring basis. There were no Level 3 financial instruments for the three months ended September 30, 2021 and September 30, 2020 measured on a recurring basis. Fair Value Measurements, Nonrecurring (Dollars in thousands) Description September 30, Quoted Prices Significant Significant Impaired loans: Commercial & Industrial $ — $ — $ — $ — Real estate: Mortgage-residential 207 — — 207 Mortgage-commercial 1,604 — — 1,604 Consumer: Home equity 20 — — 20 Other — — — — Total impaired 1,831 — — 1,831 Other real estate owned: Construction 624 — — 624 Mortgage-residential 541 — — 541 Total other real estate owned 1,165 — — 1,165 Total $ 2,996 $ — $ — $ 2,996 (Dollars in thousands) Description December 31, (Level 1) (Level 2) (Level 3) Impaired loans: Commercial & Industrial $ — $ — $ — $ — Real estate: Mortgage-residential 440 — — 440 Mortgage-commercial 5,629 — — 5,629 Consumer: Home equity 42 — — 42 Other — — — — Total impaired 6,111 — — 6,111 Other real estate owned: Construction 600 — — 600 Mortgage-commercial 594 — — 594 Total other real estate owned 1,194 — — 1,194 Total $ 7,305 $ — $ — $ 7,305 The Company has a large percentage of loans with real estate serving as collateral. Loans which are deemed to be impaired are primarily valued on a nonrecurring basis at the fair value of the underlying real estate collateral. Such fair values are obtained using independent appraisals, which the Company considers to be Level 3 inputs. Third party appraisals are generally obtained when a loan is identified as being impaired or at the time it is transferred to OREO. This internal process consists of evaluating the underlying collateral to independently obtained comparable properties. With respect to less complex or smaller credits, an internal evaluation may be performed. Generally, the independent and internal evaluations are updated annually. Factors considered in determining the fair value include, among others, geographic sales trends, the value of comparable surrounding properties and the condition of the property. The aggregate amount of impaired loans was $1.8 million and $6.1 million as of September 30, 2021 and December 31, 2020, respectively. For Level 3 assets and liabilities measured at fair value on a non-recurring basis as of September 30, 2021, and December 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value Measurement Inputs and Valuation Techniques (Dollars in thousands) Fair Value as Valuation Technique Significant Significant OREO $ 1,165 Appraisal Value/Comparison Sales/Other estimates Appraisals and or sales of comparable properties Appraisals discounted 6% 16% Impaired loans $ 1,831 Appraisal Value Appraisals and or sales of comparable properties Appraisals discounted 6% 16% (Dollars in thousands) Fair Value as Valuation Technique Significant Significant OREO $ 1,194 Appraisal Value/Comparison Sales/Other estimates Appraisals and or sales of comparable properties Appraisals discounted 6% 16% Impaired loans $ 6,111 Appraisal Value Appraisals and or sales of comparable properties Appraisals discounted 6% 16% |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2021 | |
Deposits | Note 7— Deposits The Company’s total deposits are comprised of the following at the dates indicated: Schedule of Total Deposits September 30, December 31, (Dollars in thousands) 2021 2020 Non-interest bearing demand deposits $ 430,938 $ 385,511 Interest bearing demand deposits and money market accounts 605,147 520,205 Savings 141,084 123,032 Time deposits 156,399 160,665 Total deposits $ 1,333,568 $ 1,189,413 As of September 30, 2021 and December 31, 2020, the Company had time deposits that meet or exceed the $250,000 FDIC insurance limit of $ 27.7 million 28.6 million |
Reportable Segments
Reportable Segments | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Reportable Segments | Note 8— Reportable Segments The Company’s reportable segments represent the distinct product lines the Company offers and are viewed separately for strategic planning by management. The Company has four reportable segments: ● Commercial and retail banking: The Company’s primary business is to provide deposit and lending products and services to its commercial and retail customers. ● Mortgage banking: This segment provides mortgage origination services for loans that will be sold to investors in the secondary market. ● Investment advisory and non-deposit: This segment provides investment advisory services and non-deposit products. ● Corporate: This segment includes the parent company financial information, including interest on parent company debt and dividend income received from the Bank. The following tables present selected financial information for the Company’s reportable business segments for the three and nine months ended September 30, 2021 and September 30, 2020. Schedule of Segment Reporting Information, by Segment (Dollars in thousands) Commercial Investment Nine months ended September 30, 2021 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 35,025 $ 829 $ — $ 3,023 $ (3,013 ) $ 35,864 Interest expense 1,436 — — 313 — 1,749 Net interest income $ 33,589 $ 829 $ — $ 2,710 $ (3,013 ) $ 34,115 Provision for loan losses 394 — — — — 394 Noninterest income 4,124 3,280 2,874 — — 10,278 Noninterest expense 23,414 3,518 1,802 589 — 29,323 Net income before taxes $ 13,905 $ 591 $ 1,072 $ 2,120 $ (3,013 ) $ 14,676 Income tax provision (benefit) 3,305 — — (175 ) — 3,130 Net income $ 10,600 $ 591 $ 1,072 $ 2,296 $ (3,013 ) $ 11,546 (Dollars in thousands) Commercial Investment Nine months ended September 30, 2020 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 31,099 $ 1,240 $ — $ 3,167 $ (3,154 ) $ 32,352 Interest expense 2,588 — — 428 — 3,016 Net interest income $ 28,511 $ 1,240 $ — $ 2,739 $ (3,154 ) $ 29,336 Provision for loan losses 3,387 — — — — 3,387 Noninterest income 4,231 3,957 1,977 — — 10,165 Noninterest expense 22,461 3,629 1,405 388 — 27,883 Net income before taxes $ 6,894 $ 1,568 $ 572 $ 2,351 $ (3,154 ) $ 8,231 Income tax provision (benefit) 1,738 — — (170 ) — 1,568 Net income $ 5,156 $ 1,568 $ 572 $ 2,521 $ (3,154 ) $ 6,663 (Dollars in thousands) Commercial Investment Three months ended September 30, 2021 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 12,766 $ 213 $ — $ 1,009 $ (1,006 ) $ 12,982 Interest expense 422 — — 104 — 526 Net interest income $ 12,344 $ 213 $ — $ 905 $ (1,006 ) $ 12,456 Provision for loan losses 49 — — — — 49 Noninterest income 1,377 1,147 1,040 — — 3,564 Noninterest expense 8,001 1,111 622 171 — 9,905 Net income before taxes $ 5,671 $ 249 $ 418 $ 734 $ (1,006 ) $ 6,066 Income tax provision (benefit) 1,375 — — (57 ) — 1,318 Net income $ 4,296 $ 249 $ 418 $ 791 $ (1,006 ) $ 4,748 (Dollars in thousands) Commercial Investment Three months ended September 30, 2020 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 10,464 $ 508 $ — $ 1,038 $ (1,034 ) $ 10,976 Interest expense 685 — — 115 — 800 Net interest income $ 9,779 $ 508 $ — $ 923 $ (1,034 ) $ 10,176 Provision for loan losses 1,062 — — — — 1,062 Noninterest income 1,776 1,403 671 — — 3,850 Noninterest expense 7,749 1,353 480 132 — 9,714 Net income before taxes $ 2,744 $ 558 $ 191 $ 791 $ (1,034 ) $ 3,250 Income tax provision (benefit) 649 — — (51 ) — 598 Net income $ 2,095 $ 558 $ 191 $ 842 $ (1,034 ) $ 2,652 Commercial Investment (Dollars in thousands) and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Total Assets as of September 30, 2021 $ 1,544,830 $ 14,749 $ — $ 140,439 $ (139,692 ) $ 1,560,326 Total Assets as of December 31, 2020 $ 1,335,320 $ 59,372 $ 2 $ 140,256 $ (139,568 ) $ 1,395,382 |
Leases
Leases | 9 Months Ended |
Sep. 30, 2021 | |
Leases [Abstract] | |
Leases | Note 9— Leases During the three-month period ended September 30, 2021 and September 30, 2020, the Company made cash payments for operating leases in the amount of $ 74.5 thousand 73.1 thousand 222.4 thousand 218.4 thousand 80.8 242.3 41.1 38.1 122.3 112.9 15.25 15.96 4.42% 4.41% (Dollars in thousands) Liability Year Cash Lease Expense Reduction 2021 $ 75 $ 33 $ 42 2022 303 126 177 2023 309 118 191 2024 282 110 172 2025 222 104 118 Thereafter 2,978 686 2,292 Total $ 4,169 $ 1,177 $ 2,992 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 10— Subsequent Events Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements. Non-recognized subsequent events are events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date. Management has reviewed events occurring through the date the financial statements were available to be issued and no subsequent events occurred requiring accrual or that require disclosure and have not been disclosed in the footnotes to the Company’s unaudited consolidated financial statements as of September 30, 2021. |
Nature of Business and Basis _2
Nature of Business and Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Company has evaluated its exposure to certain industry segments most impacted by the COVID-19 pandemic | The Company has evaluated its exposure to certain industry segments most impacted by the COVID-19 pandemic |
Nature of Business and Basis of Presentation | Industry Segments Outstanding % of Loan (Dollars in millions) Loan Balance Portfolio Hotels $ 34.7 3.9% Restaurants $ 22.6 2.6% Assisted Living $ 8.4 1.0% Retail $ 90.2 10.2% |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Earning Per Common Share | The following reconciles the numerator and denominator of the basic and diluted earnings per common share computation: Schedule of Earning Per Common Share (In thousands except average market price and per share data) |
Earnings Per Common Share | Nine months Three months Ended September 30, Ended September 30, 2021 2020 2021 2020 Numerator (Net income available to common shareholders) $ 11,546 $ 6,663 $ 4,748 $ 2,652 Denominator Weighted average common shares outstanding for: Basic shares 7,487 7,440 7,499 7,458 Dilutive securities: Deferred compensation 28 24 31 13 Restricted stock – Treasury stock method 25 11 26 11 Diluted shares 7,540 7,475 7,556 7,482 Earnings per common share: Basic 1.54 0.90 0.63 0.36 Diluted 1.53 0.89 0.63 0.35 The average market price used in calculating assumed number of shares $ 19.37 $ 15.87 $ 20.20 $ 13.69 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Investment Available-For-Sale | The amortized cost and estimated fair values of investment securities are summarized below: Schedule of Investment Available-For-Sale AVAILABLE-FOR-SALE: |
Investment Securities | Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value September 30, 2021 US Treasury securities $ 15,729 $ — $ 346 $ 15,383 Government Sponsored Enterprises 2,498 2 — 2,500 Mortgage-backed securities 364,826 4,630 3,501 365,955 Small Business Administration pools 32,083 630 57 32,656 State and local government 85,528 4,722 344 89,906 Corporate and other securities 7,023 171 94 7,100 $ 507,687 $ 10,155 $ 4,342 $ 513,500 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value December 31, 2020 US Treasury securities $ 1,501 $ 1 $ — $ 1,502 Government Sponsored Enterprises 996 10 — 1,006 Mortgage-backed securities 222,739 7,375 185 229,929 Small Business Administration pools 34,577 928 7 35,498 State and local government 82,495 6,184 76 88,603 Corporate and other securities 3,272 56 — 3,328 $ 345,580 $ 14,554 $ 268 $ 359,866 |
Schedule of gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position | The following tables show gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position, at September 30, 2021 and December 31, 2020. Schedule of gross unrealized losses and fair values, aggregated by investment category and length of time that individual securities have been in a continuous loss position |
Investment Securities (Details 2) | (Dollars in thousands) Less than 12 months 12 months or more Total September 30, 2021 Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities: Value Loss Value Loss Value Loss US Treasury Securities $ 15,384 $ 346 $ — $ — $ 15,384 $ 346 Mortgage-backed securities 215,705 3,316 15,164 185 230,869 3,501 Small Business Administration pools 7,296 57 — — 7,296 57 State and local government 15,992 344 — — 15,992 344 Corporate and other securities 2,163 94 — — 2,163 94 Total $ 256,540 $ 4,157 $ 15,164 $ 185 $ 271,704 $ 4,342 (Dollars in thousands) Less than 12 months 12 months or more Total December 31, 2020 Fair Unrealized Fair Unrealized Fair Unrealized Available-for-sale securities: Value Loss Value Loss Value Loss Mortgage-backed securities 21,298 152 1,414 33 22,712 185 Small Business Administration pools — — 1,323 7 1,323 7 State and local government 4,930 76 — — 4,930 76 Total $ 26,228 $ 228 $ 2,737 $ 40 $ 28,965 $ 268 |
Schedule of the amortized cost and fair value of investment securities by expected maturity | The following sets forth the amortized cost and fair value of investment securities at September 30, 2021 by contractual maturity. Expected maturities differ from contractual maturities because borrowers may have the right to call or prepay the obligations with or without prepayment penalties. MBSs are based on average life at estimated prepayment speeds. Schedule of the amortized cost and fair value of investment securities by expected maturity |
Investment Securities (Details 3) | Available-for-sale September 30, 2021 Amortized Fair (Dollars in thousands) Cost Value Due in one year or less $ 23,039 $ 23,211 Due after one year through five years 167,304 170,323 Due after five years through ten years 178,906 182,562 Due after ten years 138,438 137,404 Total $ 507,687 $ 513,500 |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Schedule of Loan Portfolio | The following table summarizes the composition of our loan portfolio. Total loans are recorded net of deferred loan fees and costs, which totaled $1.7 million and $2.2 million as of September 30, 2021 and December 31, 2020, respectively. Schedule of Loan Portfolio |
Loans | September 30, December 31, (Dollars in thousands) 2021 2020 Commercial, financial and agricultural $ 80,796 $ 96,688 Real estate: Construction 100,061 95,282 Mortgage-residential 44,987 43,928 Mortgage-commercial 620,130 573,258 Consumer: Home equity 27,233 26,442 Other 8,313 8,559 Total loans, net of deferred loan fees and costs $ 881,520 $ 844,157 |
Schedule of activity in the allowance for loan losses and the recorded investment in loans receivable | The detailed activity in the allowance for loan losses and the recorded investment in loans receivable as of and for the three months ended and nine months ended September 30, 2021 and September 30, 2020 and for the year ended December 31, 2020 is as follows: Schedule of activity in the allowance for loan losses and the recorded investment in loans receivable (Dollars in thousands) Commercial Real estate Real estate Real estate Consumer Consumer Unallocated Total Three months ended September 30, 2021 Allowance for loan losses: Beginning balance June 30, 2021 $ 894 $ 125 $ 542 $ 8,026 $ 322 $ 111 $ 618 $ 10,638 Charge-offs — — — — — (21 ) — (21 ) Recoveries 22 — — 304 28 5 — 359 Provisions (31 ) (29 ) (1 ) 106 (24 ) 23 5 49 Ending balance September 30, 2021 $ 885 $ 96 $ 541 $ 8,436 $ 326 $ 118 $ 623 $ 11,025 Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer (Dollars in thousands) Commercial Construction Residential Commercial equity Other Unallocated Total Nine months ended September 30, 2021 Allowance for loan losses: Beginning balance December 31, 2020 $ 778 $ 145 $ 541 $ 7,855 $ 324 $ 125 $ 621 $ 10,389 Charge-offs — — — (110 ) — (57 ) — (167 ) Recoveries 25 — — 315 34 35 — 409 Provisions 82 (49 ) — 376 (32 ) 15 2 394 Ending balance September 30, 2021 $ 885 $ 96 $ 541 $ 8,436 $ 326 $ 118 $ 623 $ 11,025 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 1 $ — $ — $ — $ 1 Collectively evaluated for impairment 885 96 541 8,435 326 118 623 11,024 September 30, 2021 Loans receivable: Ending balance-total $ 80,796 $ 100,061 $ 44,987 $ 620,130 $ 27,233 $ 8,313 $ — $ 881,520 Ending balances: Individually evaluated for impairment — — 207 1,605 20 — — 1,832 Collectively evaluated for impairment $ 80,796 $ 100,061 $ 44,780 $ 618,525 $ 27,213 $ 8,313 $ — $ 879,688 (Dollars in thousands) Commercial Real estate Real estate Real estate Consumer Consumer Unallocated Total Three months ended September 30, 2020 Allowance for loan losses: Beginning balance June 30, 2020 $ 769 $ 165 $ 497 $ 6,469 $ 293 $ 132 $ 611 $ 8,936 Charge-offs — (2 ) — (1 ) — (22 ) — (25 ) Recoveries 118 2 — 4 1 15 — 140 Provisions (59 ) 12 96 982 36 (2 ) (3 ) 1,062 Ending balance September 30, 2020 $ 828 $ 177 $ 593 $ 7,454 $ 330 $ 123 $ 608 $ 10,113 (Dollars in thousands) Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer Commercial Construction Residential Commercial equity Other Unallocated Total Nine months ended September 30, 2020 Allowance for loan losses: Beginning balance December 31, 2019 $ 427 $ 111 $ 367 $ 4,602 $ 240 $ 97 $ 783 $ 6,627 Charge-offs — (2 ) — (1 ) — (70 ) — (73 ) Recoveries 121 2 — 13 2 34 — 172 Provisions 280 66 226 2,840 88 62 (175 ) 3,387 Ending balance September 30, 2020 $ 828 $ 177 $ 593 $ 7,454 $ 330 $ 123 $ 608 $ 10,113 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 3 $ — $ — $ — $ 3 Collectively evaluated for impairment 828 177 593 7,451 330 123 608 10,110 September 30, 2020 Loans receivable: Ending balance-total $ 108,006 $ 89,250 $ 49,215 $ 561,932 $ 27,618 $ 8,439 $ — $ 844,460 Ending balances: Individually evaluated for impairment — — 327 2,850 47 — — 3,224 Collectively evaluated for impairment $ 108,006 $ 89,250 $ 48,888 $ 559,082 $ 27,571 $ 8,439 $ — $ 841,236 Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer (Dollars in thousands) Commercial Construction Residential Commercial equity Other Unallocated Total December 31, 2020 Allowance for loan losses: Beginning balance December 31, 2019 $ 427 $ 111 $ 367 $ 4,602 $ 240 $ 97 $ 783 $ 6,627 Charge-offs — (2 ) — (1 ) — (107 ) — (110 ) Recoveries 130 2 — 23 2 52 — 209 Provisions 221 34 174 3,231 82 83 (162 ) 3,663 Ending balance December 31, 2020 $ 778 $ 145 $ 541 $ 7,855 $ 324 $ 125 $ 621 $ 10,389 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 2 $ — $ — $ — $ 2 Collectively evaluated for impairment 778 145 541 7,853 324 125 621 10,387 December 31, 2020 Loans receivable: Ending balance-total $ 96,688 $ 95,282 $ 43,928 $ 573,258 $ 26,442 $ 8,559 $ — $ 844,157 Ending balances: Individually evaluated for impairment — — 440 5,631 42 — — 6,113 Collectively evaluated for impairment 96,688 95,282 43,488 567,627 26,400 8,559 — 838,044 |
[custom:DisclosureLoansDetails2Abstract] | (Dollars in thousands) Commercial Real estate Real estate Real estate Consumer Consumer Unallocated Total Three months ended September 30, 2021 Allowance for loan losses: Beginning balance June 30, 2021 $ 894 $ 125 $ 542 $ 8,026 $ 322 $ 111 $ 618 $ 10,638 Charge-offs — — — — — (21 ) — (21 ) Recoveries 22 — — 304 28 5 — 359 Provisions (31 ) (29 ) (1 ) 106 (24 ) 23 5 49 Ending balance September 30, 2021 $ 885 $ 96 $ 541 $ 8,436 $ 326 $ 118 $ 623 $ 11,025 Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer (Dollars in thousands) Commercial Construction Residential Commercial equity Other Unallocated Total Nine months ended September 30, 2021 Allowance for loan losses: Beginning balance December 31, 2020 $ 778 $ 145 $ 541 $ 7,855 $ 324 $ 125 $ 621 $ 10,389 Charge-offs — — — (110 ) — (57 ) — (167 ) Recoveries 25 — — 315 34 35 — 409 Provisions 82 (49 ) — 376 (32 ) 15 2 394 Ending balance September 30, 2021 $ 885 $ 96 $ 541 $ 8,436 $ 326 $ 118 $ 623 $ 11,025 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 1 $ — $ — $ — $ 1 Collectively evaluated for impairment 885 96 541 8,435 326 118 623 11,024 September 30, 2021 Loans receivable: Ending balance-total $ 80,796 $ 100,061 $ 44,987 $ 620,130 $ 27,233 $ 8,313 $ — $ 881,520 Ending balances: Individually evaluated for impairment — — 207 1,605 20 — — 1,832 Collectively evaluated for impairment $ 80,796 $ 100,061 $ 44,780 $ 618,525 $ 27,213 $ 8,313 $ — $ 879,688 (Dollars in thousands) Commercial Real estate Real estate Real estate Consumer Consumer Unallocated Total Three months ended September 30, 2020 Allowance for loan losses: Beginning balance June 30, 2020 $ 769 $ 165 $ 497 $ 6,469 $ 293 $ 132 $ 611 $ 8,936 Charge-offs — (2 ) — (1 ) — (22 ) — (25 ) Recoveries 118 2 — 4 1 15 — 140 Provisions (59 ) 12 96 982 36 (2 ) (3 ) 1,062 Ending balance September 30, 2020 $ 828 $ 177 $ 593 $ 7,454 $ 330 $ 123 $ 608 $ 10,113 (Dollars in thousands) Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer Commercial Construction Residential Commercial equity Other Unallocated Total Nine months ended September 30, 2020 Allowance for loan losses: Beginning balance December 31, 2019 $ 427 $ 111 $ 367 $ 4,602 $ 240 $ 97 $ 783 $ 6,627 Charge-offs — (2 ) — (1 ) — (70 ) — (73 ) Recoveries 121 2 — 13 2 34 — 172 Provisions 280 66 226 2,840 88 62 (175 ) 3,387 Ending balance September 30, 2020 $ 828 $ 177 $ 593 $ 7,454 $ 330 $ 123 $ 608 $ 10,113 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 3 $ — $ — $ — $ 3 Collectively evaluated for impairment 828 177 593 7,451 330 123 608 10,110 September 30, 2020 Loans receivable: Ending balance-total $ 108,006 $ 89,250 $ 49,215 $ 561,932 $ 27,618 $ 8,439 $ — $ 844,460 Ending balances: Individually evaluated for impairment — — 327 2,850 47 — — 3,224 Collectively evaluated for impairment $ 108,006 $ 89,250 $ 48,888 $ 559,082 $ 27,571 $ 8,439 $ — $ 841,236 Real estate Real estate Consumer Real estate Mortgage Mortgage Home Consumer (Dollars in thousands) Commercial Construction Residential Commercial equity Other Unallocated Total December 31, 2020 Allowance for loan losses: Beginning balance December 31, 2019 $ 427 $ 111 $ 367 $ 4,602 $ 240 $ 97 $ 783 $ 6,627 Charge-offs — (2 ) — (1 ) — (107 ) — (110 ) Recoveries 130 2 — 23 2 52 — 209 Provisions 221 34 174 3,231 82 83 (162 ) 3,663 Ending balance December 31, 2020 $ 778 $ 145 $ 541 $ 7,855 $ 324 $ 125 $ 621 $ 10,389 Ending balances: Individually evaluated for impairment $ — $ — $ — $ 2 $ — $ — $ — $ 2 Collectively evaluated for impairment 778 145 541 7,853 324 125 621 10,387 December 31, 2020 Loans receivable: Ending balance-total $ 96,688 $ 95,282 $ 43,928 $ 573,258 $ 26,442 $ 8,559 $ — $ 844,157 Ending balances: Individually evaluated for impairment — — 440 5,631 42 — — 6,113 Collectively evaluated for impairment 96,688 95,282 43,488 567,627 26,400 8,559 — 838,044 |
Schedule of loan category and loans individually evaluated and considered impaired | The following tables as of September 30, 2021, September 30, 2020, and December 31, 2020, are by loan category and present loans individually evaluated and considered impaired under FASB ASC 310 “Accounting by Creditors for Impairment of a Loan.” Impairment includes performing TDRs. Schedule of loan category and loans individually evaluated and considered impaired (Dollars in thousands) Nine months ended Three months ended Unpaid Average Interest Average Interest Recorded Principal Related Recorded income Recorded Income September 30, 2021 Investment Balance Allowance Investment Recognized Investment Recognized With no allowance recorded: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 207 259 — 196 8 133 3 Mortgage-commercial 1,538 3,869 — 2,239 183 1,772 57 Consumer: Home equity 20 25 — 21 1 19 — Other — — — — — — — With an allowance recorded: Commercial, financial, agricultural — — — — — — — Real estate: Construction — — — — — — — Mortgage-residential — — — — — — — Mortgage-commercial 67 67 1 104 5 67 1 Consumer: Home equity — — — — — — — Other — — — — — — — Total: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 207 259 — 196 8 133 3 Mortgage-commercial 1,605 3,936 1 2,343 188 1,839 58 Consumer: Home equity 20 25 — 21 1 19 — Other — — — — — — — $ 1,832 4,220 $ 1 $ 2,560 $ 197 $ 1,991 $ 61 (Dollars in thousands) Nine months ended Three months ended Unpaid Average Interest Average Interest Recorded Principal Related Recorded income Recorded Income September 30, 2020 Investment Balance Allowance Investment Recognized Investment Recognized With no allowance recorded: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 327 405 — 337 11 323 9 Mortgage-commercial 2,706 5,450 — 3,071 217 3,013 73 Consumer: Home equity 47 51 — 50 2 46 1 Other — — — — — — — With an allowance recorded: Commercial, financial, agricultural — — — — — — — Real estate: Construction — — — — — — — Mortgage-residential — — — — — — — Mortgage-commercial 144 144 3 200 9 142 2 Consumer: Home equity — — — — — — — Other — — — — — — — Total: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 327 405 — 337 11 323 9 Mortgage-commercial 2,850 5,594 3 3,271 226 3,155 75 Consumer: Home equity 47 51 — 50 2 46 1 Other — — — — — — — $ 3,224 6,050 $ 3 $ 3,658 $ 239 $ 3,524 $ 85 Unpaid Average Interest (Dollars in thousands) Recorded Principal Related Recorded Income December 31, 2020 Investment Balance Allowance Investment Recognized With an allowance recorded: Commercial — — — — — With no allowance recorded: Commercial $ — $ — $ — $ — $ — Real estate: Construction — — — — — Mortgage-residential 440 499 — 440 1 Mortgage-commercial 5,508 7,980 — 5,770 388 Consumer: Home Equity 42 47 — 42 3 Other — — — — — With an allowance recorded: Commercial — — — — — Real estate: Construction — — — — — Mortgage-residential — — — — — Mortgage-commercial 123 123 2 123 11 Consumer: Home Equity — — — — — Other — — — — — Total: Commercial — — — — — Real estate: Construction — — — — — Mortgage-residential 440 499 — 440 1 Mortgage-commercial 5,631 8,103 2 5,893 399 Consumer: Home Equity 42 47 — 42 3 Other — — — — — $ 6,113 $ 8,649 $ 2 $ 6,375 $ 403 |
[custom:DisclosureLoansDetails3Abstract] | (Dollars in thousands) Nine months ended Three months ended Unpaid Average Interest Average Interest Recorded Principal Related Recorded income Recorded Income September 30, 2021 Investment Balance Allowance Investment Recognized Investment Recognized With no allowance recorded: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 207 259 — 196 8 133 3 Mortgage-commercial 1,538 3,869 — 2,239 183 1,772 57 Consumer: Home equity 20 25 — 21 1 19 — Other — — — — — — — With an allowance recorded: Commercial, financial, agricultural — — — — — — — Real estate: Construction — — — — — — — Mortgage-residential — — — — — — — Mortgage-commercial 67 67 1 104 5 67 1 Consumer: Home equity — — — — — — — Other — — — — — — — Total: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 207 259 — 196 8 133 3 Mortgage-commercial 1,605 3,936 1 2,343 188 1,839 58 Consumer: Home equity 20 25 — 21 1 19 — Other — — — — — — — $ 1,832 4,220 $ 1 $ 2,560 $ 197 $ 1,991 $ 61 (Dollars in thousands) Nine months ended Three months ended Unpaid Average Interest Average Interest Recorded Principal Related Recorded income Recorded Income September 30, 2020 Investment Balance Allowance Investment Recognized Investment Recognized With no allowance recorded: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 327 405 — 337 11 323 9 Mortgage-commercial 2,706 5,450 — 3,071 217 3,013 73 Consumer: Home equity 47 51 — 50 2 46 1 Other — — — — — — — With an allowance recorded: Commercial, financial, agricultural — — — — — — — Real estate: Construction — — — — — — — Mortgage-residential — — — — — — — Mortgage-commercial 144 144 3 200 9 142 2 Consumer: Home equity — — — — — — — Other — — — — — — — Total: Commercial, financial, agricultural $ — $ — $ — $ — $ — $ — $ — Real estate: Construction — — — — — — — Mortgage-residential 327 405 — 337 11 323 9 Mortgage-commercial 2,850 5,594 3 3,271 226 3,155 75 Consumer: Home equity 47 51 — 50 2 46 1 Other — — — — — — — $ 3,224 6,050 $ 3 $ 3,658 $ 239 $ 3,524 $ 85 Unpaid Average Interest (Dollars in thousands) Recorded Principal Related Recorded Income December 31, 2020 Investment Balance Allowance Investment Recognized With an allowance recorded: Commercial — — — — — With no allowance recorded: Commercial $ — $ — $ — $ — $ — Real estate: Construction — — — — — Mortgage-residential 440 499 — 440 1 Mortgage-commercial 5,508 7,980 — 5,770 388 Consumer: Home Equity 42 47 — 42 3 Other — — — — — With an allowance recorded: Commercial — — — — — Real estate: Construction — — — — — Mortgage-residential — — — — — Mortgage-commercial 123 123 2 123 11 Consumer: Home Equity — — — — — Other — — — — — Total: Commercial — — — — — Real estate: Construction — — — — — Mortgage-residential 440 499 — 440 1 Mortgage-commercial 5,631 8,103 2 5,893 399 Consumer: Home Equity 42 47 — 42 3 Other — — — — — $ 6,113 $ 8,649 $ 2 $ 6,375 $ 403 |
Schedule of loan category and loan by risk categories | Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered as pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is shown in the table below as of September 30, 2021 and December 31, 2020. As of September 30, 2021 and December 31, 2020, no loans were classified as doubtful. Schedule of loan category and loan by risk categories |
Loans (Details 4) | (Dollars in thousands) Special September 30, 2021 Pass Mention Substandard Doubtful Total Commercial, financial & agricultural $ 80,637 $ 159 $ — $ — $ 80,796 Real estate: Construction 100,056 5 — — 100,061 Mortgage – residential 44,451 315 221 — 44,987 Mortgage – commercial 611,406 2,157 6,567 — 620,130 Consumer: Home Equity 25,822 215 1,196 — 27,233 Other 8,306 — 7 — 8,313 Total $ 870,678 $ 2,851 $ 7,991 $ — $ 881,520 (Dollars in thousands) Special December 31, 2020 Pass Mention Substandard Doubtful Total Commercial, financial & agricultural $ 96,507 $ 181 $ — $ — $ 96,688 Real estate: Construction 95,282 — — — 95,282 Mortgage – residential 43,240 190 498 — 43,928 Mortgage – commercial 559,982 7,270 6,006 — 573,258 Consumer: Home Equity 25,041 95 1,306 — 26,442 Other 8,538 21 — — 8,559 Total $ 828,590 $ 7,757 $ 7,810 $ — $ 844,157 |
Schedule of loan category and present loans past due and on non-accrual status | The following tables are by loan category and present loans past due and on non-accrual status as of September 30, 2021 and December 31, 2020: Schedule of loan category and present loans past due and on non-accrual status Greater than (Dollars in thousands) 30-59 Days 60-89 Days 90 Days and Total September 30, 2021 Past Due Past Due Accruing Nonaccrual Past Due Current Total Loans Commercial $ 42 $ — $ — $ 131 $ 173 $ 80,623 $ 80,796 Real estate: Construction — — — — — 100,061 100,061 Mortgage-residential 56 — — 208 264 44,723 44,987 Mortgage-commercial — — — — — 620,130 620,130 Consumer: Home equity 161 — — 20 181 27,052 27,233 Other 8 — — — 8 8,305 8,313 $ 267 $ — $ — $ 359 $ 626 $ 880,894 $ 881,520 Greater than (Dollars in thousands) 30-59 Days 60-89 Days 90 Days and Total December 31, 2020 Past Due Past Due Accruing Nonaccrual Past Due Current Total Loans Commercial $ 165 $ 27 $ — $ 4,080 $ 4,272 $ 92,416 $ 96,688 Real estate: Construction 424 — 1,260 — 1,684 93,598 95,282 Mortgage-residential 7 — — 440 447 43,481 43,928 Mortgage-commercial — — — — — 573,258 573,258 Consumer: Home equity — — — 42 42 26,400 26,442 Other 21 21 — — 42 8,517 8,559 $ 617 $ 48 $ 1,260 $ 4,562 $ 6,487 $ 837,670 $ 844,157 |
[custom:DisclosureLoansDetails5Abstract] | Greater than (Dollars in thousands) 30-59 Days 60-89 Days 90 Days and Total September 30, 2021 Past Due Past Due Accruing Nonaccrual Past Due Current Total Loans Commercial $ 42 $ — $ — $ 131 $ 173 $ 80,623 $ 80,796 Real estate: Construction — — — — — 100,061 100,061 Mortgage-residential 56 — — 208 264 44,723 44,987 Mortgage-commercial — — — — — 620,130 620,130 Consumer: Home equity 161 — — 20 181 27,052 27,233 Other 8 — — — 8 8,305 8,313 $ 267 $ — $ — $ 359 $ 626 $ 880,894 $ 881,520 Greater than (Dollars in thousands) 30-59 Days 60-89 Days 90 Days and Total December 31, 2020 Past Due Past Due Accruing Nonaccrual Past Due Current Total Loans Commercial $ 165 $ 27 $ — $ 4,080 $ 4,272 $ 92,416 $ 96,688 Real estate: Construction 424 — 1,260 — 1,684 93,598 95,282 Mortgage-residential 7 — — 440 447 43,481 43,928 Mortgage-commercial — — — — — 573,258 573,258 Consumer: Home equity — — — 42 42 26,400 26,442 Other 21 21 — — 42 8,517 8,559 $ 617 $ 48 $ 1,260 $ 4,562 $ 6,487 $ 837,670 $ 844,157 |
Schedule for changes in the accretable yield for PCI loans | A summary of changes in the accretable yield for purchased credit-impaired loans for the three months and nine months ended September 30, 2021 and September 30, 2020 are as follows: Schedule for changes in the accretable yield for PCI loans |
Loans (Details 6) | (Dollars in thousands) Three Months Three Months Accretable yield, beginning of period $ 79 $ 108 Accretion (8 ) (7 ) Accretable yield, end of period $ 71 $ 101 (Dollars in thousands) Nine Months Nine Months Accretable yield, beginning of period $ 93 $ 123 Accretion (22 ) (22 ) Accretable yield, end of period $ 71 $ 101 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping | The carrying amount and estimated fair value by classification level of the Company’s financial instruments as of September 30, 2021 and December 31, 2020 are as follows: Fair Value, by Balance Sheet Grouping September 30, 2021 Carrying Fair Value (Dollars in thousands) Amount Total Level 1 Level 2 Level 3 Financial Assets: Cash and short term investments $ 24,435 $ 24,435 $ 24,435 $ — $ — Investment securities available-for-sale 513,500 513,500 16,970 496,530 — Other investments, at cost 1,760 1,760 — — 1,760 Loans held-for-sale 6,213 6,213 — 6,213 — Net loans receivable 870,495 861,029 — — 861,029 Accrued interest receivable 3,748 3,748 3,748 — — Financial liabilities: Non-interest bearing demand $ 430,938 $ 430,938 $ — $ 430,938 $ — Interest bearing demand deposits and money market accounts 605,147 605,147 — 605,147 — Savings 141,084 141,084 — 141,084 — Time deposits 156,399 156,829 — 156,829 — Total deposits 1,333,568 1,333,998 — 1,333,998 — Securities sold under agreements to repurchase 59,821 59,821 — 59,821 — Junior subordinated debt 14,964 14,410 — 14,410 — Accrued interest payable 434 434 434 — — December 31, 2020 Carrying Fair Value (Dollars in thousands) Amount Total Level 1 Level 2 Level 3 Financial Assets: Cash and short term investments $ 64,992 $ 64,992 $ 64,992 $ — $ — Investment securities available-for-sale 359,866 359,866 20,564 339,302 — Other investments, at cost 2,053 2,053 — — 2,053 Loans held for sale 45,020 45,020 — 45,020 — Net loans receivable 833,768 829,685 — — 829,685 Accrued interest receivable 4,167 4,167 4,167 — — Financial liabilities: Non-interest bearing demand $ 385,511 $ 385,511 $ — $ 385,511 $ — Interest bearing demand deposits and money market accounts 520,205 520,205 — 520,205 — Savings 123,032 123,032 — 123,032 — Time deposits 160,665 161,505 — 61,505 — Total deposits 1,189,413 1,190,253 — 1,190,253 — Securities sold under agreements to repurchase 40,914 40,914 — 40,914 — Junior subordinated debt 14,964 11,748 — 11,748 — Accrued interest payable 667 667 667 — — |
[custom:DisclosureFairValueOfFinancialInstrumentsDetailsAbstract] | September 30, 2021 Carrying Fair Value (Dollars in thousands) Amount Total Level 1 Level 2 Level 3 Financial Assets: Cash and short term investments $ 24,435 $ 24,435 $ 24,435 $ — $ — Investment securities available-for-sale 513,500 513,500 16,970 496,530 — Other investments, at cost 1,760 1,760 — — 1,760 Loans held-for-sale 6,213 6,213 — 6,213 — Net loans receivable 870,495 861,029 — — 861,029 Accrued interest receivable 3,748 3,748 3,748 — — Financial liabilities: Non-interest bearing demand $ 430,938 $ 430,938 $ — $ 430,938 $ — Interest bearing demand deposits and money market accounts 605,147 605,147 — 605,147 — Savings 141,084 141,084 — 141,084 — Time deposits 156,399 156,829 — 156,829 — Total deposits 1,333,568 1,333,998 — 1,333,998 — Securities sold under agreements to repurchase 59,821 59,821 — 59,821 — Junior subordinated debt 14,964 14,410 — 14,410 — Accrued interest payable 434 434 434 — — December 31, 2020 Carrying Fair Value (Dollars in thousands) Amount Total Level 1 Level 2 Level 3 Financial Assets: Cash and short term investments $ 64,992 $ 64,992 $ 64,992 $ — $ — Investment securities available-for-sale 359,866 359,866 20,564 339,302 — Other investments, at cost 2,053 2,053 — — 2,053 Loans held for sale 45,020 45,020 — 45,020 — Net loans receivable 833,768 829,685 — — 829,685 Accrued interest receivable 4,167 4,167 4,167 — — Financial liabilities: Non-interest bearing demand $ 385,511 $ 385,511 $ — $ 385,511 $ — Interest bearing demand deposits and money market accounts 520,205 520,205 — 520,205 — Savings 123,032 123,032 — 123,032 — Time deposits 160,665 161,505 — 61,505 — Total deposits 1,189,413 1,190,253 — 1,190,253 — Securities sold under agreements to repurchase 40,914 40,914 — 40,914 — Junior subordinated debt 14,964 11,748 — 11,748 — Accrued interest payable 667 667 667 — — |
Fair Value, Assets Measured on Recurring Basis | The following tables summarize quantitative disclosures about the fair value for each category of assets carried at fair value as of September 30, 2021 and December 31, 2020 that are measured on a recurring basis. There were no liabilities carried at fair value as of September 30, 2021 or December 31, 2020 that are measured on a recurring basis. Fair Value, Assets Measured on Recurring Basis (Dollars in thousands) Description September 30, Quoted Prices Significant Significant Available-for-sale securities US treasury securities $ 15,383 $ — $ 15,383 $ — Government sponsored enterprises 2,500 — 2,500 — Mortgage-backed securities 365,955 15,170 350,785 — Small Business Administration pools 32,656 — 32,656 — State and local government 89,906 1,800 88,106 — Corporate and other securities 7,100 — 7,100 — Total Available-for-sale securities 513,500 16,970 496,530 — Loans held-for-sale 6,213 — 6,213 — Total $ 519,713 $ 16,970 $ 502,743 $ — (Dollars in thousands) Description December 31, (Level 1) (Level 2) (Level 3) Available- for-sale securities US Treasury Securities $ 1,502 $ — $ 1,502 $ — Government Sponsored Enterprises 1,006 — 1,006 — Mortgage-backed securities 229,929 17,029 212,900 — Small Business Administration pools 35,498 — 35,498 — State and local government 88,603 3,535 85,068 — Corporate and other securities 3,328 — 3,328 — Total Available-for-sale securities 359,866 20,564 339,302 — Loans held for sale 45,020 — 45,020 — Total $ 404,886 $ 20,564 $ 384,322 $ — |
[custom:DisclosureFairValueOfFinancialInstrumentsDetails2Abstract] | Description September 30, Quoted Prices Significant Significant Available-for-sale securities US treasury securities $ 15,383 $ — $ 15,383 $ — Government sponsored enterprises 2,500 — 2,500 — Mortgage-backed securities 365,955 15,170 350,785 — Small Business Administration pools 32,656 — 32,656 — State and local government 89,906 1,800 88,106 — Corporate and other securities 7,100 — 7,100 — Total Available-for-sale securities 513,500 16,970 496,530 — Loans held-for-sale 6,213 — 6,213 — Total $ 519,713 $ 16,970 $ 502,743 $ — (Dollars in thousands) Description December 31, (Level 1) (Level 2) (Level 3) Available- for-sale securities US Treasury Securities $ 1,502 $ — $ 1,502 $ — Government Sponsored Enterprises 1,006 — 1,006 — Mortgage-backed securities 229,929 17,029 212,900 — Small Business Administration pools 35,498 — 35,498 — State and local government 88,603 3,535 85,068 — Corporate and other securities 3,328 — 3,328 — Total Available-for-sale securities 359,866 20,564 339,302 — Loans held for sale 45,020 — 45,020 — Total $ 404,886 $ 20,564 $ 384,322 $ — |
Fair Value Measurements, Nonrecurring | The following tables summarize quantitative disclosures about the fair value for each category of assets carried at fair value as of September 30, 2021 and December 31, 2020 that are measured on a non-recurring basis. There were no Level 3 financial instruments for the three months ended September 30, 2021 and September 30, 2020 measured on a recurring basis. Fair Value Measurements, Nonrecurring (Dollars in thousands) Description September 30, Quoted Prices Significant Significant Impaired loans: Commercial & Industrial $ — $ — $ — $ — Real estate: Mortgage-residential 207 — — 207 Mortgage-commercial 1,604 — — 1,604 Consumer: Home equity 20 — — 20 Other — — — — Total impaired 1,831 — — 1,831 Other real estate owned: Construction 624 — — 624 Mortgage-residential 541 — — 541 Total other real estate owned 1,165 — — 1,165 Total $ 2,996 $ — $ — $ 2,996 (Dollars in thousands) Description December 31, (Level 1) (Level 2) (Level 3) Impaired loans: Commercial & Industrial $ — $ — $ — $ — Real estate: Mortgage-residential 440 — — 440 Mortgage-commercial 5,629 — — 5,629 Consumer: Home equity 42 — — 42 Other — — — — Total impaired 6,111 — — 6,111 Other real estate owned: Construction 600 — — 600 Mortgage-commercial 594 — — 594 Total other real estate owned 1,194 — — 1,194 Total $ 7,305 $ — $ — $ 7,305 |
[custom:DisclosureFairValueOfFinancialInstrumentsDetails3Abstract] | (Dollars in thousands) Description September 30, Quoted Prices Significant Significant Impaired loans: Commercial & Industrial $ — $ — $ — $ — Real estate: Mortgage-residential 207 — — 207 Mortgage-commercial 1,604 — — 1,604 Consumer: Home equity 20 — — 20 Other — — — — Total impaired 1,831 — — 1,831 Other real estate owned: Construction 624 — — 624 Mortgage-residential 541 — — 541 Total other real estate owned 1,165 — — 1,165 Total $ 2,996 $ — $ — $ 2,996 (Dollars in thousands) Description December 31, (Level 1) (Level 2) (Level 3) Impaired loans: Commercial & Industrial $ — $ — $ — $ — Real estate: Mortgage-residential 440 — — 440 Mortgage-commercial 5,629 — — 5,629 Consumer: Home equity 42 — — 42 Other — — — — Total impaired 6,111 — — 6,111 Other real estate owned: Construction 600 — — 600 Mortgage-commercial 594 — — 594 Total other real estate owned 1,194 — — 1,194 Total $ 7,305 $ — $ — $ 7,305 |
Fair Value Measurement Inputs and Valuation Techniques | For Level 3 assets and liabilities measured at fair value on a non-recurring basis as of September 30, 2021, and December 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value Measurement Inputs and Valuation Techniques |
Fair Value of Financial Instruments (Details 4) | (Dollars in thousands) Fair Value as Valuation Technique Significant Significant OREO $ 1,165 Appraisal Value/Comparison Sales/Other estimates Appraisals and or sales of comparable properties Appraisals discounted 6% 16% Impaired loans $ 1,831 Appraisal Value Appraisals and or sales of comparable properties Appraisals discounted 6% 16% (Dollars in thousands) Fair Value as Valuation Technique Significant Significant OREO $ 1,194 Appraisal Value/Comparison Sales/Other estimates Appraisals and or sales of comparable properties Appraisals discounted 6% 16% Impaired loans $ 6,111 Appraisal Value Appraisals and or sales of comparable properties Appraisals discounted 6% 16% |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Schedule of Total Deposits | The Company’s total deposits are comprised of the following at the dates indicated: Schedule of Total Deposits |
Deposits | September 30, December 31, (Dollars in thousands) 2021 2020 Non-interest bearing demand deposits $ 430,938 $ 385,511 Interest bearing demand deposits and money market accounts 605,147 520,205 Savings 141,084 123,032 Time deposits 156,399 160,665 Total deposits $ 1,333,568 $ 1,189,413 |
Reportable Segments (Tables)
Reportable Segments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The following tables present selected financial information for the Company’s reportable business segments for the three and nine months ended September 30, 2021 and September 30, 2020. Schedule of Segment Reporting Information, by Segment |
Reportable Segments | (Dollars in thousands) Commercial Investment Nine months ended September 30, 2021 and Retail Mortgage advisory and Banking Banking non-deposit Corporate Eliminations Consolidated Dividend and Interest Income $ 35,025 $ 829 $ — $ 3,023 $ (3,013 ) $ 35,864 Interest expense 1,436 — — 313 — 1,749 Net interest income $ 33,589 $ 829 $ — $ 2,710 $ (3,013 ) $ 34,115 Provision for loan losses 394 — — — — 394 Noninterest income 4,124 3,280 2,874 — — 10,278 Noninterest expense 23,414 3,518 1,802 589 — 29,323 Net income before taxes $ 13,905 $ 591 $ 1,072 $ 2,120 $ (3,013 ) $ 14,676 Income tax provision (benefit) 3,305 — — (175 ) — 3,130 Net income $ 10,600 $ 591 $ 1,072 $ 2,296 $ (3,013 ) $ 11,546 |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Leases [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | |
Leases | (Dollars in thousands) Liability Year Cash Lease Expense Reduction 2021 $ 75 $ 33 $ 42 2022 303 126 177 2023 309 118 191 2024 282 110 172 2025 222 104 118 Thereafter 2,978 686 2,292 Total $ 4,169 $ 1,177 $ 2,992 |
Nature of Business and Basis _3
Nature of Business and Basis of Presentation (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 881,520 | $ 844,157 | $ 844,460 |
Payment Deferral [Member] | Hotels [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 34,700 | ||
Percentage of Loan Portfolio | 3.90% | ||
Payment Deferral [Member] | Restaurants [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 22,600 | ||
Percentage of Loan Portfolio | 2.60% | ||
Payment Deferral [Member] | Assisted Living [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 8,400 | ||
Percentage of Loan Portfolio | 1.00% | ||
Payment Deferral [Member] | Retail [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 90,200 | ||
Percentage of Loan Portfolio | 10.20% |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Earnings Per Share [Abstract] | ||||
Numerator (Net income available to common shareholders) | $ 4,748 | $ 2,652 | $ 11,546 | $ 6,663 |
Weighted average common shares outstanding for: | ||||
Basic shares | 7,499,000 | 7,458,000 | 7,487,000 | 7,440,000 |
Dilutive securities: | ||||
Deferred compensation | 31,000 | 13,000 | 28,000 | 24,000 |
Restricted stock – Treasury stock method | 26,000 | 11,000 | 25,000 | 11,000 |
Diluted shares | 7,556,000 | 7,482,000 | 7,540,000 | 7,475,000 |
Basic | $ 0.63 | $ 0.36 | $ 1.54 | $ 0.90 |
Diluted | 0.63 | 0.35 | 1.53 | 0.89 |
The average market price used in calculating assumed number of shares | $ 20.20 | $ 13.69 | $ 19.37 | $ 15.87 |
Earnings Per Common Share (De_2
Earnings Per Common Share (Details Narrative) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Earnings Per Share [Abstract] | ||
Deferred Compensation Arrangements, Overall, Description | At September 30, 2021 and December 31, 2020, there were 84,565 and 88,412 units in the plan, respectively. | |
Deferred Compensation Liability, Current and Noncurrent | $ 1,100,000 | $ 1,100,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 225,000 | 94,910 |
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 386,100 | $ 283,100 |
Accured Compensation Cost over Vesting Period | $ 70,700 | $ 107,400 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | $ 507,687 | $ 345,580 |
Available-for-sale Securities | 513,500 | 359,866 |
Available-for-sale Securities, Gross Unrealized Gain | 10,155 | 14,554 |
Available-for-sale Securities, Gross Unrealized Loss | 4,342 | 268 |
US Treasury Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 15,729 | 1,501 |
Available-for-sale Securities | 15,383 | 1,502 |
Available-for-sale Securities, Gross Unrealized Gain | 1 | |
Available-for-sale Securities, Gross Unrealized Loss | 346 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 2,498 | 996 |
Available-for-sale Securities | 2,500 | 1,006 |
Available-for-sale Securities, Gross Unrealized Gain | 2 | 10 |
Available-for-sale Securities, Gross Unrealized Loss | 0 | 0 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 364,826 | 222,739 |
Available-for-sale Securities | 365,955 | 229,929 |
Available-for-sale Securities, Gross Unrealized Gain | 4,630 | 7,375 |
Available-for-sale Securities, Gross Unrealized Loss | 3,501 | 185 |
Small Business Administration pools [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 32,083 | 34,577 |
Available-for-sale Securities | 32,656 | 35,498 |
Available-for-sale Securities, Gross Unrealized Gain | 630 | 928 |
Available-for-sale Securities, Gross Unrealized Loss | 57 | 7 |
US States and Political Subdivisions Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 85,528 | 82,495 |
Available-for-sale Securities | 89,906 | 88,603 |
Available-for-sale Securities, Gross Unrealized Gain | 4,722 | 6,184 |
Available-for-sale Securities, Gross Unrealized Loss | 344 | 76 |
Corporate and other securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 7,023 | 3,272 |
Available-for-sale Securities | 7,100 | 3,328 |
Available-for-sale Securities, Gross Unrealized Gain | 171 | 56 |
Available-for-sale Securities, Gross Unrealized Loss | $ 94 | $ 0 |
Investment Securities (Details
Investment Securities (Details 2) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 256,540 | $ 26,228 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4,157 | 228 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 15,164 | 2,737 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 185 | 40 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 271,704 | 28,965 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 4,342 | 268 |
US Treasury Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 15,384 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 346 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 15,384 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 346 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 215,705 | 21,298 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 3,316 | 152 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 15,164 | 1,414 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 185 | 33 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 230,869 | 22,712 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 3,501 | 185 |
Small Business Administration pools [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 7,296 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 57 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,323 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 7 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 7,296 | 1,323 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 57 | 7 |
US States and Political Subdivisions Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 15,992 | 4,930 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 344 | 76 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 15,992 | 4,930 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 344 | $ 76 |
Corporate and other securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,163 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 94 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 2,163 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 94 |
Investment Securities (Detail_2
Investment Securities (Details 3) $ in Thousands | Sep. 30, 2021USD ($) |
Investments, Debt and Equity Securities [Abstract] | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Amortized Cost | $ 23,039 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | 23,211 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Amortized Cost | 167,304 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | 170,323 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Amortized Cost | 178,906 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | 182,562 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Amortized Cost | 138,438 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value | 137,404 |
Debt Securities, Available-for-sale, Amortized Cost | 507,687 |
Debt Securities, Available-for-sale | $ 513,500 |
Investment Securities (Detail_3
Investment Securities (Details Narrative) - USD ($) | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Marketable Securities [Line Items] | |||
Debt Securities, Available-for-sale | $ 513,500,000 | ||
Federal Home Loan Bank Stock | 698,400 | $ 1,100,000 | |
Corporate Fixed To Float Bonds [Member] | |||
Marketable Securities [Line Items] | |||
Debt Securities, Available-for-sale | 7,100,000 | 3,300,000 | |
Mutual Funds [Member] | |||
Marketable Securities [Line Items] | |||
Debt Securities, Available-for-sale | 10,400 | 8,000 | |
Available-for-sale Securities, Gross Realized Gains | 2,400 | $ 2,100 | |
Debt Security, Corporate, Non-US [Member] | |||
Marketable Securities [Line Items] | |||
Debt Securities, Available-for-sale | 10,000 | 10,000 | |
Corporate Bond Securities [Member] | |||
Marketable Securities [Line Items] | |||
Debt Securities, Available-for-sale | 1,000,000 | 1,000,000 | |
Venture Capital Funds [Member] | |||
Marketable Securities [Line Items] | |||
Debt Securities, Available-for-sale | 61,700 | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Marketable Securities [Line Items] | |||
[custom:SecurityOwnedAndPledgedAsCollateralAmortizedCost-0] | 396,900,000 | 257,300,000 | |
Security Owned and Pledged as Collateral, Fair Value | 398,600,000 | 265,400,000 | |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | |||
Marketable Securities [Line Items] | |||
[custom:SecurityOwnedAndPledgedAsCollateralAmortizedCost-0] | 49,100 | 57,400 | |
Security Owned and Pledged as Collateral, Fair Value | $ 47,100 | $ 54,700 |
Loans (Details)
Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | $ 881,520 | $ 844,157 | $ 844,460 |
Commercial, Financial And Agricultural Loan [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | 80,796 | 96,688 | 108,006 |
Construction Loans [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | 100,061 | 95,282 | 89,250 |
Residential Mortgage [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | 44,987 | 43,928 | 49,215 |
Commercial Real Estate [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | 620,130 | 573,258 | 561,932 |
Home Equity Line of Credit [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | 27,233 | 26,442 | 27,618 |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Total loans, net of deferred loan fees and costs | $ 8,313 | $ 8,559 | $ 8,439 |
Loans (Details 2)
Loans (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | $ 10,638 | $ 8,936 | $ 10,389 | $ 6,627 | $ 6,627 |
Charge-offs | (21) | (25) | (167) | (73) | (110) |
Recoveries | 359 | 140 | 409 | 172 | 209 |
Provisions | 49 | 1,062 | 394 | 3,387 | 3,663 |
Ending balance December 31, 2020 | 11,025 | 10,113 | 11,025 | 10,113 | 10,389 |
Individually evaluated for impairment | 1 | 3 | 1 | 3 | 2 |
Collectively evaluated for impairment | 11,024 | 10,110 | 11,024 | 10,110 | 10,387 |
Loans held-for-investment | 881,520 | 844,460 | 881,520 | 844,460 | 844,157 |
Individually evaluated for impairment | 1,832 | 3,224 | 1,832 | 3,224 | 6,113 |
Collectively evaluated for impairment | 879,688 | 841,236 | 879,688 | 841,236 | 838,044 |
Commercial, Financial And Agricultural Loan [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 894 | 769 | 778 | 427 | 427 |
Charge-offs | |||||
Recoveries | 22 | 118 | 25 | 121 | 130 |
Provisions | (31) | (59) | 82 | 280 | 221 |
Ending balance December 31, 2020 | 885 | 828 | 885 | 828 | 778 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 885 | 828 | 885 | 828 | 778 |
Loans held-for-investment | 80,796 | 108,006 | 80,796 | 108,006 | 96,688 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 80,796 | 108,006 | 80,796 | 108,006 | 96,688 |
Construction Loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 125 | 165 | 145 | 111 | 111 |
Charge-offs | (2) | (2) | (2) | ||
Recoveries | 2 | 2 | 2 | ||
Provisions | (29) | 12 | (49) | 66 | 34 |
Ending balance December 31, 2020 | 96 | 177 | 96 | 177 | 145 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 96 | 177 | 96 | 177 | 145 |
Loans held-for-investment | 100,061 | 89,250 | 100,061 | 89,250 | 95,282 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 100,061 | 89,250 | 100,061 | 89,250 | 95,282 |
Residential Mortgage [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 542 | 497 | 541 | 367 | 367 |
Charge-offs | |||||
Recoveries | |||||
Provisions | (1) | 96 | 226 | 174 | |
Ending balance December 31, 2020 | 541 | 593 | 541 | 593 | 541 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 541 | 593 | 541 | 593 | 541 |
Loans held-for-investment | 44,987 | 49,215 | 44,987 | 49,215 | 43,928 |
Individually evaluated for impairment | 207 | 327 | 207 | 327 | 440 |
Collectively evaluated for impairment | 44,780 | 48,888 | 44,780 | 48,888 | 43,488 |
Commercial Real Estate [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 8,026 | 6,469 | 7,855 | 4,602 | 4,602 |
Charge-offs | (1) | (110) | (1) | (1) | |
Recoveries | 304 | 4 | 315 | 13 | 23 |
Provisions | 106 | 982 | 376 | 2,840 | 3,231 |
Ending balance December 31, 2020 | 8,436 | 7,454 | 8,436 | 7,454 | 7,855 |
Individually evaluated for impairment | 1 | 3 | 1 | 3 | 2 |
Collectively evaluated for impairment | 8,435 | 7,451 | 8,435 | 7,451 | 7,853 |
Loans held-for-investment | 620,130 | 561,932 | 620,130 | 561,932 | 573,258 |
Individually evaluated for impairment | 1,605 | 2,850 | 1,605 | 2,850 | 5,631 |
Collectively evaluated for impairment | 618,525 | 559,082 | 618,525 | 559,082 | 567,627 |
Home Equity Line of Credit [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 322 | 293 | 324 | 240 | 240 |
Charge-offs | |||||
Recoveries | 28 | 1 | 34 | 2 | 2 |
Provisions | (24) | 36 | (32) | 88 | 82 |
Ending balance December 31, 2020 | 326 | 330 | 326 | 330 | 324 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 326 | 330 | 326 | 330 | 324 |
Loans held-for-investment | 27,233 | 27,618 | 27,233 | 27,618 | 26,442 |
Individually evaluated for impairment | 20 | 47 | 20 | 47 | 42 |
Collectively evaluated for impairment | 27,213 | 27,571 | 27,213 | 27,571 | 26,400 |
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 111 | 132 | 125 | 97 | 97 |
Charge-offs | (21) | (22) | (57) | (70) | (107) |
Recoveries | 5 | 15 | 35 | 34 | 52 |
Provisions | 23 | (2) | 15 | 62 | 83 |
Ending balance December 31, 2020 | 118 | 123 | 118 | 123 | 125 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 118 | 123 | 118 | 123 | 125 |
Loans held-for-investment | 8,313 | 8,439 | 8,313 | 8,439 | 8,559 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 8,313 | 8,439 | 8,313 | 8,439 | 8,559 |
Unallocated Financing Receivables [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Beginning balance December 31, 2019 | 618 | 611 | 621 | 783 | 783 |
Charge-offs | |||||
Recoveries | |||||
Provisions | 5 | (3) | 2 | (175) | (162) |
Ending balance December 31, 2020 | 623 | 608 | 623 | 608 | 621 |
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 623 | 608 | 623 | 608 | 621 |
Loans held-for-investment | |||||
Individually evaluated for impairment | |||||
Collectively evaluated for impairment |
Loans (Details 3)
Loans (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable, Related Allowance | $ 1 | $ 3 | $ 1 | $ 3 | $ 2 |
Impaired Financing Receivable, Recorded Investment | 1,832 | 3,224 | 1,832 | 3,224 | 6,113 |
Impaired Financing Receivable, Unpaid Principal Balance | 4,220 | 6,050 | 4,220 | 6,050 | 8,649 |
Impaired Financing Receivable, Average Recorded Investment | 1,991 | 3,524 | 2,560 | 3,658 | 6,375 |
Impaired Financing Receivable, Interest Income, Accrual Method | 61 | 85 | 197 | 239 | 403 |
Commercial, Financial And Agricultural Loan [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | |||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | |||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | |||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | |||||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | |||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | |||||
Impaired Financing Receivable, Recorded Investment | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Average Recorded Investment | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | |||||
Construction Loans [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | |||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | |||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | |||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | |||||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | |||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | |||||
Impaired Financing Receivable, Recorded Investment | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Average Recorded Investment | |||||
Impaired Financing Receivable, Interest Income, Accrual Method | |||||
Residential Mortgage [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 207 | 327 | 207 | 327 | 440 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 259 | 405 | 259 | 405 | 499 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 133 | 323 | 196 | 337 | 440 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 3 | 9 | 8 | 11 | 1 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | |||||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | |||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | |||||
Impaired Financing Receivable, Recorded Investment | 207 | 327 | 207 | 327 | 440 |
Impaired Financing Receivable, Unpaid Principal Balance | 259 | 405 | 259 | 405 | 499 |
Impaired Financing Receivable, Average Recorded Investment | 133 | 323 | 196 | 337 | 440 |
Impaired Financing Receivable, Interest Income, Accrual Method | 3 | 9 | 8 | 11 | 1 |
Commercial Real Estate [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,538 | 2,706 | 1,538 | 2,706 | 5,508 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 3,869 | 5,450 | 3,869 | 5,450 | 7,980 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 1,772 | 3,013 | 2,239 | 3,071 | 5,770 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 57 | 73 | 183 | 217 | 388 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 67 | 144 | 67 | 144 | 123 |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 67 | 144 | 67 | 144 | 123 |
Impaired Financing Receivable, Related Allowance | 1 | 3 | 1 | 3 | 2 |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 67 | 142 | 104 | 200 | 123 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 1 | 2 | 5 | 9 | 11 |
Impaired Financing Receivable, Recorded Investment | 1,605 | 2,850 | 1,605 | 2,850 | 5,631 |
Impaired Financing Receivable, Unpaid Principal Balance | 3,936 | 5,594 | 3,936 | 5,594 | 8,103 |
Impaired Financing Receivable, Average Recorded Investment | 1,839 | 3,155 | 2,343 | 3,271 | 5,893 |
Impaired Financing Receivable, Interest Income, Accrual Method | 58 | 75 | 188 | 226 | 399 |
Home Equity Line of Credit [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 20 | 47 | 20 | 47 | 42 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 25 | 51 | 25 | 51 | 47 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 19 | 46 | 21 | 50 | 42 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 1 | 1 | 2 | 3 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | |||||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | |||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | |||||
Impaired Financing Receivable, Recorded Investment | 20 | 47 | 20 | 47 | 42 |
Impaired Financing Receivable, Unpaid Principal Balance | 25 | 51 | 25 | 51 | 47 |
Impaired Financing Receivable, Average Recorded Investment | 19 | 46 | 21 | 50 | 42 |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 1 | 2 | 3 | |
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Past Due [Line Items] | |||||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | |||||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | |||||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | |||||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | |||||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Related Allowance | |||||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | |||||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | |||||
Impaired Financing Receivable, Recorded Investment | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Impaired Financing Receivable, Average Recorded Investment | |||||
Impaired Financing Receivable, Interest Income, Accrual Method |
Loans (Details 4)
Loans (Details 4) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | $ 881,520 | $ 844,157 | $ 844,460 |
Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 870,678 | 828,590 | |
Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 2,851 | 7,757 | |
Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 7,991 | 7,810 | |
Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial, Financial And Agricultural Loan [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 80,796 | 96,688 | 108,006 |
Commercial, Financial And Agricultural Loan [Member] | Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 80,637 | 96,507 | |
Commercial, Financial And Agricultural Loan [Member] | Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 159 | 181 | |
Commercial, Financial And Agricultural Loan [Member] | Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial, Financial And Agricultural Loan [Member] | Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Construction Loans [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 100,061 | 95,282 | 89,250 |
Construction Loans [Member] | Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 100,056 | 95,282 | |
Construction Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 5 | ||
Construction Loans [Member] | Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Construction Loans [Member] | Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Residential Mortgage [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 44,987 | 43,928 | 49,215 |
Residential Mortgage [Member] | Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 44,451 | 43,240 | |
Residential Mortgage [Member] | Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 315 | 190 | |
Residential Mortgage [Member] | Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 221 | 498 | |
Residential Mortgage [Member] | Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial Real Estate [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 620,130 | 573,258 | 561,932 |
Commercial Real Estate [Member] | Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 611,406 | 559,982 | |
Commercial Real Estate [Member] | Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 2,157 | 7,270 | |
Commercial Real Estate [Member] | Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 6,567 | 6,006 | |
Commercial Real Estate [Member] | Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Home Equity Line of Credit [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 27,233 | 26,442 | 27,618 |
Home Equity Line of Credit [Member] | Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 25,822 | 25,041 | |
Home Equity Line of Credit [Member] | Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 215 | 95 | |
Home Equity Line of Credit [Member] | Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 1,196 | 1,306 | |
Home Equity Line of Credit [Member] | Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 8,313 | 8,559 | $ 8,439 |
Consumer Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 8,306 | 8,538 | |
Consumer Portfolio Segment [Member] | Special Mention [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 21 | ||
Consumer Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 7 | ||
Consumer Portfolio Segment [Member] | Doubtful [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment |
Loans (Details 5)
Loans (Details 5) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | $ 881,520 | $ 844,157 | $ 844,460 |
Financing Receivable, Nonaccrual | 359 | 4,562 | |
Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 267 | 617 | |
Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 48 | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 1,260 | ||
Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 626 | 6,487 | |
Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 880,894 | 837,670 | |
Commercial, Financial And Agricultural Loan [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 80,796 | 96,688 | 108,006 |
Financing Receivable, Nonaccrual | 131 | 4,080 | |
Commercial, Financial And Agricultural Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 42 | 165 | |
Commercial, Financial And Agricultural Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 27 | ||
Commercial, Financial And Agricultural Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial, Financial And Agricultural Loan [Member] | Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 173 | 4,272 | |
Commercial, Financial And Agricultural Loan [Member] | Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 80,623 | 92,416 | |
Construction Loans [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 100,061 | 95,282 | 89,250 |
Financing Receivable, Nonaccrual | |||
Construction Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 424 | ||
Construction Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 1,260 | ||
Construction Loans [Member] | Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 1,684 | ||
Construction Loans [Member] | Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 100,061 | 93,598 | |
Residential Mortgage [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 44,987 | 43,928 | 49,215 |
Financing Receivable, Nonaccrual | 208 | 440 | |
Residential Mortgage [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 56 | 7 | |
Residential Mortgage [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Residential Mortgage [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Residential Mortgage [Member] | Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 264 | 447 | |
Residential Mortgage [Member] | Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 44,723 | 43,481 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 620,130 | 573,258 | 561,932 |
Financing Receivable, Nonaccrual | |||
Commercial Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial Real Estate [Member] | Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Commercial Real Estate [Member] | Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 620,130 | 573,258 | |
Home Equity Line of Credit [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 27,233 | 26,442 | 27,618 |
Financing Receivable, Nonaccrual | 20 | 42 | |
Home Equity Line of Credit [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 161 | ||
Home Equity Line of Credit [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Home Equity Line of Credit [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Home Equity Line of Credit [Member] | Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 181 | 42 | |
Home Equity Line of Credit [Member] | Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 27,052 | 26,400 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 8,313 | 8,559 | $ 8,439 |
Financing Receivable, Nonaccrual | |||
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 8 | 21 | |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 21 | ||
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | |||
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | 8 | 42 | |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held-for-investment | $ 8,305 | $ 8,517 |
Loans (Details 6)
Loans (Details 6) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Receivables [Abstract] | ||||
Accretable yield, beginning of period | $ 79 | $ 108 | $ 93 | $ 123 |
Accretion | (8) | (7) | (22) | (22) |
Accretable yield, end of period | $ 71 | $ 101 | $ 71 | $ 101 |
Loans (Details Narrative)
Loans (Details Narrative) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 |
Financing Receivable, Past Due [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 881,520,000 | $ 844,157,000 | $ 844,460,000 | |
Financing Receivable, Troubled Debt Restructuring | 1,500,000 | $ 1,600,000 | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 0 | 1,300,000 | ||
[custom:RecordedInvestmentInPurchasedImpairedLoans-0] | 109,000 | 110,000 | ||
[custom:UnpaidPrincipalBalanceInPurchasedImpairedLoans-0] | 157,000 | 171,000 | ||
Commercial, Financial And Agricultural Loan [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Loans and Leases Receivable, Gross | 80,796,000 | 96,688,000 | $ 108,006,000 | |
Commercial, Financial And Agricultural Loan [Member] | Entity Loan Modification Program [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 9,100,000 | $ 42,200,000 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financial Assets: | ||
Investment securities available-for-sale | $ 513,500 | $ 359,866 |
Other investments, at cost | 1,760 | 2,053 |
Financial liabilities: | ||
Non-interest bearing demand | 430,938 | 385,511 |
Interest bearing demand deposits and money market accounts | 605,147 | 520,205 |
Savings | 141,084 | 123,032 |
Time deposits | 156,399 | 160,665 |
Total deposits | 1,333,568 | 1,189,413 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets: | ||
Cash and short term investments | 24,435 | 64,992 |
Investment securities available-for-sale | 16,970 | 20,564 |
Other investments, at cost | ||
Loans held for sale | ||
Net loans receivable | ||
Accrued interest receivable | 3,748 | 4,167 |
Financial liabilities: | ||
Non-interest bearing demand | ||
Interest bearing demand deposits and money market accounts | ||
Savings | ||
Time deposits | ||
Total deposits | ||
Securities sold under agreements to repurchase | ||
Junior subordinated debt | ||
Accrued interest payable | 434 | 667 |
Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets: | ||
Cash and short term investments | ||
Investment securities available-for-sale | 496,530 | 339,302 |
Other investments, at cost | ||
Loans held for sale | 6,213 | 45,020 |
Net loans receivable | ||
Accrued interest receivable | ||
Financial liabilities: | ||
Non-interest bearing demand | 430,938 | 385,511 |
Interest bearing demand deposits and money market accounts | 605,147 | 520,205 |
Savings | 141,084 | 123,032 |
Time deposits | 156,829 | 61,505 |
Total deposits | 1,333,998 | 1,190,253 |
Securities sold under agreements to repurchase | 59,821 | 40,914 |
Junior subordinated debt | 14,410 | 11,748 |
Accrued interest payable | ||
Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets: | ||
Cash and short term investments | ||
Investment securities available-for-sale | ||
Other investments, at cost | 1,760 | 2,053 |
Loans held for sale | ||
Net loans receivable | 861,029 | 829,685 |
Accrued interest receivable | ||
Financial liabilities: | ||
Non-interest bearing demand | ||
Interest bearing demand deposits and money market accounts | ||
Savings | ||
Time deposits | ||
Total deposits | ||
Securities sold under agreements to repurchase | ||
Junior subordinated debt | ||
Accrued interest payable | ||
Reported Value Measurement [Member] | ||
Financial Assets: | ||
Cash and short term investments | 24,435 | 64,992 |
Investment securities available-for-sale | 513,500 | 359,866 |
Other investments, at cost | 1,760 | 2,053 |
Loans held for sale | 6,213 | 45,020 |
Net loans receivable | 870,495 | 833,768 |
Accrued interest receivable | 3,748 | 4,167 |
Financial liabilities: | ||
Non-interest bearing demand | 430,938 | 385,511 |
Interest bearing demand deposits and money market accounts | 605,147 | 520,205 |
Savings | 141,084 | 123,032 |
Time deposits | 156,399 | 160,665 |
Total deposits | 1,333,568 | 1,189,413 |
Securities sold under agreements to repurchase | 59,821 | 40,914 |
Junior subordinated debt | 14,964 | 14,964 |
Accrued interest payable | 434 | 667 |
Estimate of Fair Value Measurement [Member] | ||
Financial Assets: | ||
Cash and short term investments | 24,435 | 64,992 |
Investment securities available-for-sale | 513,500 | 359,866 |
Other investments, at cost | 1,760 | 2,053 |
Loans held for sale | 6,213 | 45,020 |
Net loans receivable | 861,029 | 829,685 |
Accrued interest receivable | 3,748 | 4,167 |
Financial liabilities: | ||
Non-interest bearing demand | 430,938 | 385,511 |
Interest bearing demand deposits and money market accounts | 605,147 | 520,205 |
Savings | 141,084 | 123,032 |
Time deposits | 156,829 | 161,505 |
Total deposits | 1,333,998 | 1,190,253 |
Securities sold under agreements to repurchase | 59,821 | 40,914 |
Junior subordinated debt | 14,410 | 11,748 |
Accrued interest payable | $ 434 | $ 667 |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments (Details 2) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | $ 513,500 | $ 359,866 |
Loans held for sale | 6,213 | 45,020 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 16,970 | 20,564 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 496,530 | 339,302 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 513,500 | 359,866 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 16,970 | 20,564 |
Loans held for sale | ||
Total | 16,970 | 20,564 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 496,530 | 339,302 |
Loans held for sale | 6,213 | 45,020 |
Total | 502,743 | 384,322 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Loans held for sale | ||
Total | ||
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 513,500 | 359,866 |
Loans held for sale | 6,213 | 45,020 |
Total | 519,713 | 404,886 |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 15,383 | 1,502 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 15,383 | 1,502 |
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
US Treasury Securities [Member] | Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 15,383 | 1,502 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 2,500 | 1,006 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 2,500 | 1,006 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 2,500 | 1,006 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 15,170 | 17,029 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 350,785 | 212,900 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 365,955 | 229,929 |
Small Business Administration pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 32,656 | 35,498 |
Small Business Administration pools [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Small Business Administration pools [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 32,656 | 35,498 |
Small Business Administration pools [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Small Business Administration pools [Member] | Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 32,656 | 35,498 |
US States and Political Subdivisions Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 89,906 | 88,603 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 1,800 | 3,535 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 88,106 | 85,068 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 89,906 | 88,603 |
Corporate and other securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 7,100 | 3,328 |
Corporate and other securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Corporate and other securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | 7,100 | 3,328 |
Corporate and other securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | ||
Corporate and other securities [Member] | Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Available-for-sale securities | $ 7,100 | $ 3,328 |
Fair Value of Financial Instr_5
Fair Value of Financial Instruments (Details 3) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | $ 1,832 | $ 6,113 | $ 3,224 |
Total other real estate owned | 1,165 | 1,194 | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Total other real estate owned | |||
Total | |||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Total other real estate owned | |||
Total | |||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | 1,831 | 6,111 | |
Total other real estate owned | 1,165 | 1,194 | |
Total | 2,996 | 7,305 | |
Fair Value, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | 1,831 | 6,111 | |
Total other real estate owned | 1,165 | 1,194 | |
Total | 2,996 | 7,305 | |
Commercial, Financial And Agricultural Loan [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Commercial, Financial And Agricultural Loan [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Commercial, Financial And Agricultural Loan [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Commercial, Financial And Agricultural Loan [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Commercial, Financial And Agricultural Loan [Member] | Fair Value, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Residential Mortgage [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | 207 | 440 | 327 |
Residential Mortgage [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Total other real estate owned | |||
Residential Mortgage [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Total other real estate owned | |||
Residential Mortgage [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | 207 | 440 | |
Total other real estate owned | 541 | ||
Residential Mortgage [Member] | Fair Value, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | 207 | 440 | |
Total other real estate owned | 541 | ||
Commercial Real Estate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | 1,605 | 5,631 | 2,850 |
Commercial Real Estate [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Total other real estate owned | |||
Commercial Real Estate [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Total other real estate owned | |||
Commercial Real Estate [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | 1,604 | 5,629 | |
Total other real estate owned | 594 | ||
Commercial Real Estate [Member] | Fair Value, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | 1,604 | 5,629 | |
Total other real estate owned | 594 | ||
Home Equity Line of Credit [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | 20 | 42 | 47 |
Home Equity Line of Credit [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Home Equity Line of Credit [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Home Equity Line of Credit [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | 20 | 42 | |
Home Equity Line of Credit [Member] | Fair Value, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | 20 | 42 | |
Consumer Portfolio Segment [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Consumer Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Consumer Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Consumer Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Consumer Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Construction Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total impaired | |||
Construction Loans [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total other real estate owned | |||
Construction Loans [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total other real estate owned | |||
Construction Loans [Member] | Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total other real estate owned | 624 | 600 | |
Construction Loans [Member] | Fair Value, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total other real estate owned | $ 624 | $ 600 |
Fair Value of Financial Instr_6
Fair Value of Financial Instruments (Details 4) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $ 1,165 | $ 1,194 | |
Impaired Financing Receivable, Recorded Investment | 1,832 | 6,113 | $ 3,224 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Appraisal Value Comparison Sales Other Estimates Valuation Technique [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $ 1,165 | $ 1,194 | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Appraisal Value Comparison Sales Other Estimates Valuation Technique [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 6.00% | 6.00% | |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Appraisal Value Comparison Sales Other Estimates Valuation Technique [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 16.00% | 16.00% | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Appraisal Value Discounted Cash Flows Valuation Technique [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Impaired Financing Receivable, Recorded Investment | $ 1,831 | $ 6,111 | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Appraisal Value Discounted Cash Flows Valuation Technique [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 6.00% | 6.00% | |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Appraisal Value Discounted Cash Flows Valuation Technique [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 16.00% | 16.00% |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Non-interest bearing demand deposits | $ 430,938 | $ 385,511 |
Interest bearing demand deposits and money market accounts | 605,147 | 520,205 |
Savings | 141,084 | 123,032 |
Time deposits | 156,399 | 160,665 |
Total deposits | $ 1,333,568 | $ 1,189,413 |
Deposits (Details Narrative)
Deposits (Details Narrative) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Time Deposits 250000 or More | $ 27,700 | $ 28,600 |
Reportable Segments (Details)
Reportable Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||||||||
Dividend and Interest Income | $ 12,982 | $ 10,976 | $ 35,864 | $ 32,352 | |||||
Interest expense | 526 | 800 | 1,749 | 3,016 | |||||
Net interest income | 12,456 | 10,176 | 34,115 | 29,336 | |||||
Provision for loan losses | 49 | 1,062 | 394 | 3,387 | $ 3,663 | ||||
Noninterest income | 3,564 | 3,850 | 10,278 | 10,165 | |||||
Noninterest expense | 9,905 | 9,714 | 29,323 | 27,883 | |||||
Net income before taxes | 6,066 | 3,250 | 14,676 | 8,231 | |||||
Income tax provision (benefit) | 1,318 | 598 | 3,130 | 1,568 | |||||
Net income | 4,748 | $ 3,543 | $ 3,255 | 2,652 | $ 2,217 | $ 1,794 | 11,546 | 6,663 | |
Assets | 1,560,326 | 1,560,326 | 1,395,382 | ||||||
Commercial and Retail Banking [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Dividend and Interest Income | 12,766 | 10,464 | 35,025 | 31,099 | |||||
Interest expense | 422 | 685 | 1,436 | 2,588 | |||||
Net interest income | 12,344 | 9,779 | 33,589 | 28,511 | |||||
Provision for loan losses | 49 | 1,062 | 394 | 3,387 | |||||
Noninterest income | 1,377 | 1,776 | 4,124 | 4,231 | |||||
Noninterest expense | 8,001 | 7,749 | 23,414 | 22,461 | |||||
Net income before taxes | 5,671 | 2,744 | 13,905 | 6,894 | |||||
Income tax provision (benefit) | 1,375 | 649 | 3,305 | 1,738 | |||||
Net income | 4,296 | 2,095 | 10,600 | 5,156 | |||||
Assets | 1,544,830 | 1,544,830 | 1,335,320 | ||||||
Mortgage Banking [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Dividend and Interest Income | 213 | 508 | 829 | 1,240 | |||||
Interest expense | |||||||||
Net interest income | 213 | 508 | 829 | 1,240 | |||||
Provision for loan losses | |||||||||
Noninterest income | 1,147 | 1,403 | 3,280 | 3,957 | |||||
Noninterest expense | 1,111 | 1,353 | 3,518 | 3,629 | |||||
Net income before taxes | 249 | 558 | 591 | 1,568 | |||||
Income tax provision (benefit) | |||||||||
Net income | 249 | 558 | 591 | 1,568 | |||||
Assets | 14,749 | 14,749 | 59,372 | ||||||
Investment Advisory And Non-Deposit [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Dividend and Interest Income | |||||||||
Interest expense | |||||||||
Net interest income | |||||||||
Provision for loan losses | |||||||||
Noninterest income | 1,040 | 671 | 2,874 | 1,977 | |||||
Noninterest expense | 622 | 480 | 1,802 | 1,405 | |||||
Net income before taxes | 418 | 191 | 1,072 | 572 | |||||
Income tax provision (benefit) | |||||||||
Net income | 418 | 191 | 1,072 | 572 | |||||
Assets | 0 | 0 | 2 | ||||||
Corporate Segment [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Dividend and Interest Income | 1,009 | 1,038 | 3,023 | 3,167 | |||||
Interest expense | 104 | 115 | 313 | 428 | |||||
Net interest income | 905 | 923 | 2,710 | 2,739 | |||||
Provision for loan losses | |||||||||
Noninterest income | |||||||||
Noninterest expense | 171 | 132 | 589 | 388 | |||||
Net income before taxes | 734 | 791 | 2,120 | 2,351 | |||||
Income tax provision (benefit) | (57) | (51) | (175) | (170) | |||||
Net income | 791 | 842 | 2,296 | 2,521 | |||||
Assets | 140,439 | 140,439 | 140,256 | ||||||
Consolidation, Eliminations [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Dividend and Interest Income | (1,006) | (1,034) | (3,013) | (3,154) | |||||
Interest expense | |||||||||
Net interest income | (1,006) | (1,034) | (3,013) | (3,154) | |||||
Provision for loan losses | |||||||||
Noninterest income | |||||||||
Noninterest expense | |||||||||
Net income before taxes | (1,006) | (1,034) | (3,013) | (3,154) | |||||
Income tax provision (benefit) | |||||||||
Net income | (1,006) | $ (1,034) | (3,013) | $ (3,154) | |||||
Assets | $ (139,692) | $ (139,692) | $ (139,568) |
Leases (Details)
Leases (Details) $ in Thousands | Sep. 30, 2021USD ($) |
2021 | $ 75 |
2022 | 303 |
2023 | 309 |
2024 | 282 |
2025 | 222 |
Thereafter | 2,978 |
Total | 4,169 |
Lease Expense [Member] | |
2021 | 33 |
2022 | 126 |
2023 | 118 |
2024 | 110 |
2025 | 104 |
Thereafter | 686 |
Total | 1,177 |
Liability Reduction [Member] | |
2021 | 42 |
2022 | 177 |
2023 | 191 |
2024 | 172 |
2025 | 118 |
Thereafter | 2,292 |
Total | $ 2,992 |
Leases (Details Narrative)
Leases (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Leases [Abstract] | ||||
Operating Lease, Payments | $ 74,500 | $ 73,100 | $ 222,400 | $ 218,400 |
Operating Lease, Expense | 80,800 | 80,800 | 242,300 | 242,300 |
Operating Lease Liability Reduced | $ 41,100 | $ 38,100 | $ 122,300 | $ 112,900 |
Operating Lease, Weighted Average Remaining Lease Term | 15 years 3 months | 15 years 11 months 16 days | 15 years 3 months | 15 years 11 months 16 days |
Operating Lease, Weighted Average Discount Rate, Percent | 4.42% | 4.41% | 4.42% | 4.41% |