Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 07, 2021 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2021 | |
Document Transition Report | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Entity File Number | 000-53528 | |
Entity Registrant Name | Embassy Bancorp, Inc. | |
Entity Incorporation, State or Country Code | PA | |
Entity Tax Identification Number | 26-3339011 | |
Entity Address, Address Line One | One Hundred Gateway Drive | |
Entity Address, Address Line Two | Suite 100 | |
Entity Address, City or Town | Bethlehem | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 18017 | |
City Area Code | 610 | |
Local Phone Number | 882-8800 | |
Title of 12(b) Security | None | |
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 | 7,516,783 | |
Entity Central Index Key | 0001449794 | |
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 14,405 | $ 14,528 |
Interest bearing demand deposits with banks | 104,709 | 116,379 |
Federal funds sold | 1,000 | 1,000 |
Cash and Cash Equivalents | 120,114 | 131,907 |
Securities available for sale | 164,084 | 130,940 |
Restricted investment in bank stock | 1,330 | 1,330 |
Loans receivable, net of allowance for loan losses of $11,034 in 2021; $10,570 in 2020 | 1,087,757 | 1,079,339 |
Paycheck Protection Program loans receivable | 47,714 | 54,334 |
Premises and equipment, net of accumulated depreciation | 3,195 | 3,346 |
Bank owned life insurance | 25,337 | 25,189 |
Accrued interest receivable | 3,114 | 3,136 |
Other assets | 12,966 | 12,509 |
Total Assets | 1,465,611 | 1,442,030 |
Deposits: | ||
Non-interest bearing | 291,411 | 269,996 |
Interest bearing | 1,014,197 | 962,383 |
Total Deposits | 1,305,608 | 1,232,379 |
Securities sold under agreements to repurchase | 9,594 | 13,612 |
Long-term borrowings | 14,651 | 14,651 |
Paycheck Protection Program Liquidity Facility borrowings | 50,794 | |
Accrued interest payable | 1,069 | 1,640 |
Other liabilities | 20,658 | 16,780 |
Total Liabilities | 1,351,580 | 1,329,856 |
Stockholders' Equity: | ||
Common stock, $1 par value; authorized 20,000,000 shares; 2021 issued 7,650,032 shares; outstanding 7,516,783 shares; 2020 issued 7,637,216 shares; outstanding 7,528,967 shares; | 7,650 | 7,637 |
Surplus | 26,651 | 26,405 |
Retained earnings | 81,004 | 76,960 |
Accumulated other comprehensive income | 907 | 2,937 |
Treasury stock, at cost: 133,249 and 108,249 shares at March 31, 2021 and December 31, 2020, respectively | (2,181) | (1,765) |
Total Stockholders' Equity | 114,031 | 112,174 |
Total Liabilities and Stockholders' Equity | $ 1,465,611 | $ 1,442,030 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Consolidated Balance Sheets [Abstract] | ||
Loans receivable, allowance | $ 11,034 | $ 10,570 |
Common Stock, Par Value | $ 1 | $ 1 |
Common Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Shares, Issued | 7,650,032 | 7,637,216 |
Common Stock, Shares, Outstanding | 7,516,783 | 7,528,967 |
Treasury Stock, Shares | 133,249 | 108,249 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
INTEREST INCOME | ||
Loans, including fees | $ 10,128 | $ 10,190 |
Paycheck Protection Program loans, including fees | 1,100 | |
Securities, taxable | 326 | 377 |
Securities, non-taxable | 206 | 212 |
Short-term investments, including federal funds sold | 29 | 76 |
Total Interest Income | 11,789 | 10,855 |
INTEREST EXPENSE | ||
Deposits | 1,093 | 1,995 |
Securities sold under agreements to repurchase and federal funds purchased | 2 | 10 |
Short-term borrowings | 51 | |
Long-term borrowings | 27 | 8 |
Paycheck Protection Program Liquidity Facility borrowings | 15 | |
Total Interest Expense | 1,137 | 2,064 |
Net Interest Income | 10,652 | 8,791 |
PROVISION FOR LOAN LOSSES | 465 | 320 |
Net Interest Income after Provision for Loan Losses | 10,187 | 8,471 |
OTHER NON-INTEREST INCOME | ||
Merchant and credit card processing fees | 69 | 77 |
Debit card interchange fees | 185 | 133 |
Other service fees | 106 | 117 |
Bank owned life insurance | 148 | (27) |
Gain on sale of securities | 24 | |
Total Other Non-Interest Income | 532 | 300 |
OTHER NON-INTEREST EXPENSES | ||
Salaries and employee benefits | 2,884 | 2,839 |
Occupancy and equipment | 919 | 858 |
Data processing | 666 | 636 |
Merchant and credit card processing | 2 | 30 |
Advertising and promotion | 186 | 296 |
Professional fees | 208 | 236 |
FDIC insurance | 123 | 51 |
Loan & real estate | 75 | 68 |
Charitable contributions | 194 | 289 |
Other | 428 | 429 |
Total Other Non-Interest Expenses | 5,685 | 5,732 |
Income Before Income Taxes | 5,034 | 3,039 |
INCOME TAX EXPENSE | 990 | 582 |
Net Income | $ 4,044 | $ 2,457 |
BASIC EARNINGS PER SHARE | $ 0.54 | $ 0.33 |
DILUTED EARNINGS PER SHARE | $ 0.53 | $ 0.33 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | ||
Consolidated Statements Of Comprehensive Income [Abstract] | |||
Net Income | $ 4,044 | $ 2,457 | |
Change in Accumulated Other Comprehensive (Loss) Income: | |||
Unrealized holding (loss) gain on securities available for sale | (2,546) | 1,803 | |
Less: reclassification adjustment for realized gains | [1],[2] | (24) | |
Total other comprehensive (loss) income, before tax | (2,570) | 1,803 | |
Income tax effect | 540 | (378) | |
Net unrealized (loss) gain | (2,030) | 1,425 | |
Other comprehensive (loss) income, net of tax | (2,030) | 1,425 | |
Comprehensive Income | $ 2,014 | $ 3,882 | |
[1] | Realized gains on securities transactions included in gain on sales of securities in the accompanying Consolidated Statements of Income. | ||
[2] | Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member]Director [Member] | Common Stock [Member]Officer [Member] | Common Stock [Member] | Surplus [Member]Director [Member] | Surplus [Member]Officer [Member] | Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Treasury Stock [Member] | Director [Member] | Officer [Member] | Total |
BALANCE-Beginning at Dec. 31, 2019 | $ 7,544 | $ 25,937 | $ 65,794 | $ 1,340 | $ (1,000) | $ 99,615 | ||||||
Net income | 2,457 | 2,457 | ||||||||||
Other comprehensive income (loss), net of tax | 1,425 | 1,425 | ||||||||||
Common stock grants | $ 13 | $ 135 | $ 148 | |||||||||
Compensation expense recognized on stock grants, net of unearned compensation expense | $ 19 | $ 25 | $ 44 | |||||||||
Shares issued under employee stock purchase plan | 1 | 13 | 14 | |||||||||
Purchase of treasury stock | (720) | (720) | ||||||||||
BALANCE-Ending at Mar. 31, 2020 | 7,577 | 26,110 | 68,251 | 2,765 | (1,720) | 102,983 | ||||||
BALANCE-Beginning at Dec. 31, 2020 | 7,637 | 26,405 | 76,960 | 2,937 | (1,765) | 112,174 | ||||||
Net income | 4,044 | 4,044 | ||||||||||
Other comprehensive income (loss), net of tax | (2,030) | (2,030) | ||||||||||
Common stock grants | $ 12 | $ 174 | $ 186 | |||||||||
Compensation expense recognized on stock grants, net of unearned compensation expense | 60 | 60 | ||||||||||
Shares issued under employee stock purchase plan | 1 | 12 | 13 | |||||||||
Purchase of treasury stock | (416) | (416) | ||||||||||
BALANCE-Ending at Mar. 31, 2021 | $ 7,650 | $ 26,651 | $ 81,004 | $ 907 | $ (2,181) | $ 114,031 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 51 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | |
Unearned compensation expense on stock grants | $ 698 | $ 698 | |
Shares issued under employee stock purchase plan, shares | 807 | 1,289 | |
Purchase treasury stock, shares | 25,000 | 40,000 | |
Purchased treasury stock, price per share | $ 16.65 | $ 18 | |
Director [Member] | |||
Common stock grants, shares | 12,009 | 12,757 | |
Officer [Member] | |||
Common stock grants, shares | 19,453 | ||
Unearned compensation expense on stock grants | $ 639 | ||
Employee Stock Purchase Plan [Member] | |||
Shares issued under employee stock purchase plan, shares | 16,068 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 4,044 | $ 2,457 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 465 | 320 |
Amortization of deferred loan costs | 51 | 78 |
Accretion of deferred Paycheck Protection Program loan fees | (964) | |
Depreciation | 197 | 203 |
Net amortization of investment security premiums and discounts | 95 | 58 |
Stock compensation expense | 246 | 192 |
(Income) loss on bank owned life insurance | (148) | 27 |
Realized gain on sale of securities available for sale | (24) | |
Loans originated for sale | (659) | |
Decrease (increase) in accrued interest receivable | 22 | (31) |
Decrease in other assets | 83 | 153 |
Decrease in accrued interest payable | (571) | (1,196) |
Increase in other liabilities | 475 | 143 |
Net Cash Provided by Operating Activities | 3,971 | 1,745 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of securities available for sale | (57,533) | (1,489) |
Maturities, calls and principal repayments of securities available for sale | 21,402 | 6,203 |
Proceeds from sales of securities available for sale | 3,333 | |
Net increase in loans | (8,934) | (18,314) |
Net increase in Paycheck Protection Program loans | 7,584 | |
Net redemption of restricted investment in bank stock | 137 | |
Purchases of premises and equipment | (46) | (300) |
Net Cash Used in Investing Activities | (34,194) | (13,763) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 73,229 | 16,166 |
Net (decrease) increase in securities sold under agreements to repurchase | (4,018) | 3,177 |
Proceeds from Employee Stock Purchase Plan | 13 | 14 |
Decrease in short-term borrowed funds | (18,067) | |
Proceeds from long-term borrowed funds | 14,651 | |
Repayment of Paycheck Protection Program Liquidity Facility borrowed funds | (50,794) | |
Purchase of treasury stock | (720) | |
Net Cash Provided by Financing Activities | 18,430 | 15,221 |
Net (Decrease) Increase in Cash and Cash Equivalents | (11,793) | 3,203 |
CASH AND CASH EQUIVALENTS - BEGINNING | 131,907 | 39,986 |
CASH AND CASH EQUIVALENTS - ENDING | 120,114 | 43,189 |
SUPPLEMENTARY CASH FLOWS INFORMATION | ||
Interest paid | 1,708 | 3,260 |
Income taxes paid | 200 | |
Non-cash Investing and Financing Activities: | ||
Transfer of loans held for investment to held for sale | $ 659 | |
Right of use assets obtained in exchange for new operating lease liabilities | 635 | |
Unsettled trades to purchase securities | 2,987 | |
Unsettled purchase of treasury stock | $ 416 |
Basis Of Presentation
Basis Of Presentation | 3 Months Ended |
Mar. 31, 2021 | |
Basis Of Presentation [Abstract] | |
Basis Of Presentation | Note 1 – Basis of Presentation Embassy Bancorp, Inc. (the “Company”) is a Pennsylvania corporation organized in 2008 and registered as a bank holding company pursuant to the Bank Holding Company Act of 1956, as amended (the “BHC Act”). The Company was formed for purposes of acquiring Embassy Bank For The Lehigh Valley (the “Bank”) in connection with the reorganization of the Bank into a bank holding company structure, which was consummated on November 11, 2008. Accordingly, the Company owns all of the capital stock of the Bank, giving the organization more flexibility in meeting its capital needs as the Company continues to grow. Embassy Holdings, LLC (the “LLC”) is a wholly-owned subsidiary of the Bank organized to engage in the holding of property acquired by the Bank in satisfaction of debts previously contracted. As such, the consolidated financial statements contained herein include the accounts of the Company, the Bank and the LLC. All significant intercompany transactions and balances have been eliminated. The Bank, which is the Company’s principal operating subsidiary, was originally incorporated as a Pennsylvania bank on May 11, 2001 and opened its doors on November 6, 2001. It was formed by a group of local business persons and professionals with significant prior experience in community banking in the Lehigh Valley area of Pennsylvania, the Bank’s primary market area. The accompanying unaudited financial statements have been prepared in accordance with United States of America generally accepted accounting principles (“US GAAP”) for interim financial information and in accordance with instructions for Form 10-Q and Rule 10-01 of the Securities and Exchange Commission Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. The consolidated financial statements presented in this report should be read in conjunction with the audited consolidated financial statements and the accompanying notes for the year ended December 31, 2020, included in the Company’s Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 12, 2021. The Company has evaluated subsequent events for potential recognition and/or disclosure through the date the unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q were issued. Certain amounts in the 2020 consolidated financial statements may have been reclassified to conform to 2021 presentation. These reclassifications had no effect on 2020 net income. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | Note 2 - Summary of Significant Accounting Policies The significant accounting policies of the Company as applied in the interim financial statements presented herein are substantially the same as those followed on an annual basis as presented in the Company’s Form 10-K for the year ended December 31, 2020. |
COVID-19
COVID-19 | 3 Months Ended |
Mar. 31, 2021 | |
COVID-19 [Abstract] | |
COVID-19 | Note 3 – COVID-19 On March 11, 2020, the World Health Organization declared the outbreak of a novel coronavirus (“COVID-19”) as a global pandemic and on March 13, 2020 the United States government declared COVID-19 as a national emergency. The continuing effects of COVID-19 could adversely impact a broad range of industries in which the Company’s customers operate and impair their ability to fulfill their financial obligations to the Company. The economic effects of COVID-19 may adversely affect the Company’s financial condition and results of operations as further described below. The full future potential impact is unknown at this time. During the three months ended March 31, 2021 and the year ended December 31, 2020, the Company provided certain borrowers affected in a variety of ways by COVID-19 with payment accommodations that facilitate their ability to work through the immediate impact of the virus. Payment accommodations were in the form of short-term principal and/or interest deferrals. These payment accommodations were made in accordance with Section 4013 of the Coronavirus Aid, Relief and Economic Security (“CARES”) Act and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus. Section 4013 of the CARES Act, enacted on March 27, 2020, provides that, from the period beginning March 1, 2020 until the earlier of December 31, 2020, subsequently extended until December 31, 2021, or the date that is 60 days after the date on which the national emergency concerning the COVID-19 pandemic declared by the President of the United States under the National Emergencies Act terminates, the Company may elect to suspend US GAAP for loan modifications related to the pandemic which would otherwise be categorized as troubled debt restructurings and suspend any determination of a loan modified as a result of the effects of the pandemic as being a troubled debt restructuring, including impairment for accounting purposes. Interest income is continuing to be recognized during the accommodation period. The following table presents COVID-19 CARES Act Section 4013 loans based on loan type, payment accommodation status, and amount at March 31, 2021 and December 31, 2020: March 31, 2021 Number of Loans - Payment Accommodation Period Ended Number of Loans - Payment Accommodation Period Active Total Number of Loans Loan Amount - Payment Accommodation Period Ended Loan Amount - Payment Accommodation Period Active Total Loan Amount (Dollars In Thousands) Commercial real estate 128 4 132 $ 110,298 $ 16,538 $ 126,836 Commercial 40 - 40 6,636 - 6,636 Residential real estate 67 - 67 13,708 - 13,708 Consumer 2 - 2 29 - 29 Total 237 4 241 $ 130,671 $ 16,538 $ 147,209 December 31, 2020 Number of Loans - Payment Accommodation Period Ended Number of Loans - Payment Accommodation Period Active Total Number of Loans Loan Amount - Payment Accommodation Period Ended Loan Amount - Payment Accommodation Period Active Total Loan Amount (Dollars In Thousands) Commercial real estate 130 7 137 $ 112,016 $ 16,830 $ 128,846 Commercial 43 1 44 7,445 752 8,197 Residential real estate 68 4 72 13,517 717 14,234 Consumer 2 - 2 31 - 31 Total 243 12 255 $ 133,009 $ 18,299 $ 151,308 Included in the March 31, 2021 totals above are two hundred thirty-six ( 236 ) loans totaling $ 130.3 million in which the payment accommodation period has ended and the loan payments have resumed under their original contractual terms. Also included in the March 31, 2021 totals above is one ( 1 ) consumer loan totaling $ 418 thousand that, after its payment accommodation period ended in late March 2021, was taken to non-accrual and downgraded to substandard. No loss is anticipated on the loan. Also included in the March 31, 2021 totals above are four ( 4 ) commercial loans totaling $ 16.5 million that are currently under an active fourth short-term (three month) payment accommodation period. Loans in the fourth short-term (three month) payment accommodation period consist of a $ 11.4 million loan to a borrower in the travel and hotel industry, a $ 3.8 million loan to a borrower in the assisted living facility industry and two ( 2 ) loans totaling $ 1.4 million to a borrower in the restaurant industry. Except for these four ( 4 ) loans being granted a fourth short-term (three month) payment accommodation, between January 1, 2021 and March 31, 2021, there were no new Section 4013 modifications made during the quarter. At March 31, 2021, Management has not changed its classification of these loans due to the knowledge our loan officers have obtained from their discussions with the borrowers and due to the strength of the collateral and guarantors. Management continues to carefully monitor those borrowers who remain on payment deferral for additional signs of distress that would result in a downgrade in loan classification. Except for the one (1) consumer loan taken to non-accrual, all loans granted a payment accommodation are considered current for payment status. At April 30, 2021, the payment accommodation period on the four ( 4 ) commercial loans described above has ended and each of the loans have resumed payments under their original contractual terms. At April 30, 2021, the Company had a total of two hundred thirty-six ( 236 ) Section 4013 loans totaling $ 144.7 million, all of which are through the CARES Act Section 4013 payment accommodation period. Included in this total is the one ( 1 ) consumer loan described above totaling $ 418 thousand that was taken to non-accrual and downgraded to substandard in March 2021. Between April 1, 2021 and April 30, 2021, there were no new Section 4013 modifications made. The Company participates in the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) under the CARES Act and subsequent 2021 Consolidated Appropriations Act (“CAA”). As of March 31, 2021, the Company had a total of three hundred fifty-seven ( 357 ) PPP loans outstanding with a receivable balance of $ 47.7 million, net of $ 1.4 million of unearned origination fees and costs. At December 31, 2020, the Company had a total of four hundred seventy ( 470 ) PPP loans outstanding with a receivable balance of $ 54.3 million, net of $ 1.2 million of unearned origination fees and costs. From January 1, 2021 to March 31, 2021, the Company originated two hundred seventy-three ( 273 ) new PPP loans with a balance of $ 28.6 million, net of $ 1.2 million of unearned origination fees and costs. From January 1, 2021 to March 31, 2021, the Company received forgiveness payments from the SBA on PPP loan principal balances of $ 36.2 million. As of April 30, 2021, the Company had a total of three hundred fifty-five ( 355 ) PPP loans outstanding with a receivable balance of $ 43.6 million, net of $ 1.4 million of unearned origination fees and costs. From April 1, 2021 to April 30, 2021, the Company originated forty-eight ( 48 ) new PPP loans with a balance of $ 2.2 million, net of $ 141 thousand of unearned origination fees and costs. From April 1, 2021 to April 30, 2021, the Company received forgiveness payments from the SBA on PPP loan principal balances of $ 6.5 million. These PPP loans are 100 % guaranteed by the SBA, have a two year or up to five year maturity and an interest rate of 1 % throughout the term of the loan, with payments deferred until forgiveness proceeds received from the SBA or ten months after the end of the covered period. The SBA may forgive the PPP loans if certain conditions are met by the borrower, including using at least 60 % of the proceeds for payroll costs. The SBA also provided the Company with a processing fee for each loan, with the amount of such fee pre-determined by the SBA dependent upon the size of each loan. As of March 31, 2021 and December 31, 2020, the Company has net deferred PPP loan fees and costs of $ 1.4 million and $ 1.2 million, respectively, which will be recognized through interest income over the life of the related PPP loans. Because of the 100 % SBA guarantee, the Company has determined that no allowance for loan losses is required on the PPP loans. All PPP loans have a pass rating and none are past due under their contractual terms. In April 2020, the Company applied and was approved by the Federal Reserve Board for both the ability to borrow under its Paycheck Protection Program Liquidity Facility (“PPPLF”), as well as its Discount Window. The PPPLF provides term funding to depository institutions that originate loans to small businesses under the PPP. PPP loans that are pledged to secure PPPLF extensions of credit are excluded from leverage ratio calculations. The Company had PPPLF borrowings of $ 50.8 million at December 31, 2020. As of February 3, 2021, the PPPLF borrowings have been paid off in full. The Company is approved to borrow under the PPPLF through June 30, 2021. The Company’s allowance for loan losses increased $ 464 thousand to $ 11.0 million at March 31, 2021 compared to $ 10.6 million at December 31, 2020. At March 31, 2021 and December 31, 2020, the allowance for loan losses represented 1.00 % and 0.97 %, respectively, of total loans receivable (not including PPP loans which are guaranteed by the SBA). During 2020, the Company adjusted the economic risk factor, loan modifications risk factor, and other external factor methodologies to incorporate the current economic implications, unemployment rates and amount of loan modifications due to the COVID-19 pandemic, leading to the increase in the allowance for loan losses as a percentage of non-PPP loans. During the first quarter of 2021, the Company again adjusted the other external factor methodology, leading to a further increase in the allowance for loan losses as a percentage of non-PPP loans. In determining its allowance for loan loss level at March 31, 2021, the Company considered the health and composition of its loan portfolio going into and during the COVID-19 pandemic. All loans that have the CARES Act Section 4013 modification, regardless of whether original contractual payment terms have resumed, are provided additional qualitative reserve in the Company’s allowance for loan loss calculation. The Company’s nonperforming loans to total loans receivable (not including PPP loans) was 0.29 % at March 31, 2021, up slightly from 0.25 % at March 31, 2020 and 0.26 % at December 31, 2020. The Company had $ 2 thousand in charge-offs for the three months ended March 31, 2021 and no charge-offs for the three months ended March 31, 2020. At March 31, 2021, approximately 95 % of the Company’s loan portfolio is collateralized by real estate. Less than 6 % of the Company’s loan portfolio is to borrowers in the more particularly hard-hit industries (including the travel and hotel industry, the full-service and limited-service restaurant industries, and the assisted living facilities industry) and the Company has no direct international exposure. The Company was not required to adopt the Current Expected Credit Losses (“CECL”) FASB accounting standard in 2020, as this guidance will not be effective for the Company until 2023. Based upon current economic conditions, the composition of the loan portfolio, the perceived credit risk in the portfolio and loan-loss experience of the Company and comparable institutions in the Company’s market area, management feels the allowance is adequate to absorb reasonably anticipated losses. In response to the COVID-19 outbreak, the Federal Reserve Board in mid-March 2020 has reduced by 150 basis points the benchmark federal funds rate to a target range of 0% to 0.25%, and the yields on 10 year and 30 year Treasury notes have declined to historic lows. As a result of the decline in the Federal Reserve Board’s target federal funds rate and yields on Treasury notes, the Company’s future net interest margin and spread may be further reduced. |
Securities Available For Sale
Securities Available For Sale | 3 Months Ended |
Mar. 31, 2021 | |
Securities Available For Sale [Abstract] | |
Securities Available For Sale | Note 4 – Securities Available For Sale At March 31, 2021 and December 31, 2020, respectively, the amortized cost and approximate fair values of securities available-for-sale were as follows: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) March 31, 2021: U.S. Government agency obligations $ 33,392 $ 1 $ ( 66 ) $ 33,327 Municipal bonds 43,192 1,286 ( 233 ) 44,245 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial 512 15 - 527 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 85,840 1,349 ( 1,204 ) 85,985 Total $ 162,936 $ 2,651 $ ( 1,503 ) $ 164,084 December 31, 2020: U.S. Treasury securities $ 9,998 $ - $ - $ 9,998 U.S. Government agency obligations 39,059 1 ( 24 ) 39,036 Municipal bonds 37,409 1,967 - 39,376 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial 512 31 - 543 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 40,244 1,743 - 41,987 Total $ 127,222 $ 3,742 $ ( 24 ) $ 130,940 The amortized cost and fair value of securities as of March 31, 2021, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without any penalties. Amortized Fair Cost Value (In Thousands) Due in one year or less $ 4,623 $ 4,624 Due after one year through five years 30,830 30,771 Due after five years through ten years 8,301 8,632 Due after ten years 32,830 33,545 76,584 77,572 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial 512 527 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 85,840 85,985 Total $ 162,936 $ 164,084 Gross gains of $ 24 thousand were realized on sales of securities for the three months ended March 31, 2021. There were no gross losses on the sales of securities for the three months ended March 31, 2021. There were no sales of securities for the three months ended March 31, 2020. Securities with a carrying value of $ 106.1 million and $ 98.7 million at March 31, 2021 and December 31, 2020, respectively, were subject to agreements to repurchase, pledged to secure public deposits, or pledged for other purposes required or permitted by law. The following table shows the Company’s investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2021 and December 31, 2020, respectively: Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2021: (In Thousands) U.S. Government agency obligations $ 20,094 $ ( 66 ) $ - $ - $ 20,094 $ ( 66 ) Municipal bonds 7,117 ( 233 ) - - 7,117 ( 233 ) U.S. Government Sponsored Enterprise (GSE) - Mortgage -backed securities - residential 53,169 ( 1,204 ) - - 53,169 ( 1,204 ) Total Temporarily Impaired Securities $ 80,380 $ ( 1,503 ) $ - $ - $ 80,380 $ ( 1,503 ) . December 31, 2020: U.S. Government agency obligations $ 31,369 $ ( 24 ) $ - $ - $ 31,369 $ ( 24 ) Total Temporarily Impaired Securities $ 31,369 $ ( 24 ) $ - $ - $ 31,369 $ ( 24 ) The Company had twenty-one ( 21 ) securities in an unrealized loss position at March 31, 2021 and five (5) securities in an unrealized loss position at December 31, 2020. As of March 31, 2021, the Company either has the intent and ability to hold the securities until maturity or market price recovery or believes that it is more likely than not that it will not be required to sell such securities. Management believes that the unrealized loss only represents temporary impairment of the securities. None of the individual losses are significant. |
Restricted Investment In Bank S
Restricted Investment In Bank Stock | 3 Months Ended |
Mar. 31, 2021 | |
Restricted Investment In Bank Stock [Abstract] | |
Restricted Investment In Bank Stock | Note 5 – Restricted Investment in Bank Stock Restricted investments in bank stock consist of FHLBank of Pittsburgh (“FHLB”) stock and Atlantic Community Bankers Bank (“ACBB”) stock. The restricted stocks are carried at cost. Federal law requires a member institution of the FHLB to hold stock of its district FHLB according to a predetermined formula. The Bank had FHLB stock at a carrying value of $ 1.3 million as of March 31, 2021 and December 31, 2020. The Bank had ACBB stock at a carrying value of $ 40 thousand at March 31, 2021 and December 31, 2020. Management evaluates the FHLB and ACBB restricted stock for impairment. Management’s determination of whether these investments are impaired is based on their assessment of the ultimate recoverability of their cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of their cost is influenced by criteria such as (1) the significance of the decline in net assets of the issuer as compared to the capital stock amount for the issuer and the length of time this situation has persisted, (2) commitments by the issuer to make payments required by law or regulation and the level of such payments in relation to the operating performance of the issuer, and (3) the impact of legislative and regulatory changes on institutions and, accordingly, on the customer base of the issuer. Based upon its evaluation of the foregoing criteria, management believes no impairment charge is necessary related to the FHLB or ACBB stock as of March 31, 2021. |
Loans And Credit Quality
Loans And Credit Quality | 3 Months Ended |
Mar. 31, 2021 | |
Loans And Credit Quality [Abstract] | |
Loans And Credit Quality | Note 6 – Loans and Credit Quality The Company has presented PPP loans of $ 47.7 million at March 31, 2021 and $54.3 million at December 31, 2021, respectively, separately from loans receivable on the Consolidated Balance Sheet. As described in Note 3, PPP loans are 100 % SBA guaranteed and the Company has determined that no allowance for loan losses is required on PPP loans. All PPP loans are risk rated as pass. PPP loans are not included in the following composition and credit quality tables. The following table presents the composition of loans receivable at March 31, 2021 and December 31, 2020, respectively: March 31, 2021 December 31, 2020 Percentage of Percentage of Balance total Loans Balance total Loans (Dollars in Thousands) Commercial real estate $ 461,331 41.99 % $ 452,251 41.51 % Commercial construction 10,264 0.93 % 12,176 1.12 % Commercial 44,650 4.06 % 48,114 4.42 % Residential real estate 581,765 52.97 % 576,437 52.90 % Consumer 603 0.05 % 640 0.05 % Total loans 1,098,613 100.00 % 1,089,618 100.00 % Unearned origination fees 178 291 Allowance for loan losses ( 11,034 ) ( 10,570 ) Net Loans $ 1,087,757 $ 1,079,339 The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention (potential weaknesses), substandard (well defined weaknesses) and doubtful (full collection unlikely) within the Company's internal risk rating system as of March 31, 2021 and December 31, 2020, respectively: Pass Special Mention Substandard Doubtful Total March 31, 2021 (In Thousands) Commercial real estate $ 459,916 $ - $ 1,415 $ - $ 461,331 Commercial construction 9,949 - 315 - 10,264 Commercial 44,650 - - - 44,650 Residential real estate 580,267 506 992 - 581,765 Consumer 603 - - - 603 Total $ 1,095,385 $ 506 $ 2,722 $ - $ 1,098,613 December 31, 2020 Commercial real estate $ 450,823 $ - $ 1,428 $ - $ 452,251 Commercial construction 11,861 - 315 - 12,176 Commercial 48,114 - - - 48,114 Residential real estate 575,344 512 581 - 576,437 Consumer 640 - - - 640 Total $ 1,086,782 $ 512 $ 2,324 $ - $ 1,089,618 At March 31, 2021, the Company had no foreclosed assets and had $ 42 thousand in recorded investment in one ( 1 ) consumer mortgage loan collateralized by residential real estate in the process of foreclosure. At December 31, 2020 the Company had no foreclosed assets or recorded investment in consumer mortgage loans collateralized by residential real estate in the process of foreclosure. The following table summarizes information in regards to impaired loans by loan portfolio class as of March 31, 2021 and December 31, 2020, respectively: March 31, 2021 December 31, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance (In Thousands) With no related allowance recorded: Commercial real estate $ 840 $ 1,080 $ 851 $ 1,091 Commercial construction 315 315 315 315 Commercial - - - - Residential real estate 1,351 1,421 944 1,014 Consumer - - - - With an allowance recorded: Commercial real estate $ 690 $ 690 $ 15 $ 696 $ 696 $ 21 Commercial construction - - - - - - Commercial 228 228 22 230 230 23 Residential real estate 596 596 123 604 604 125 Consumer - - - - - - Total: Commercial real estate $ 1,530 $ 1,770 $ 15 $ 1,547 $ 1,787 $ 21 Commercial construction 315 315 - 315 315 - Commercial 228 228 22 230 230 23 Residential real estate 1,947 2,017 123 1,548 1,618 125 Consumer - - - - - - $ 4,020 $ 4,330 $ 160 $ 3,640 $ 3,950 $ 169 The following tables summarize information regarding the average recorded investment and interest income recognized on impaired loans by loan portfolio for the three months ended March 31, 2021 and 2020, respectively: Three Months Ended March 31, 2021 2020 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In Thousands) With no related allowance recorded: Commercial real estate $ 846 $ 15 $ 1,257 $ 13 Commercial construction 315 3 315 3 Commercial - - - - Residential real estate 1,148 7 619 7 Consumer - - - - With an allowance recorded: Commercial real estate $ 693 $ 7 $ 350 $ 6 Commercial construction - - - - Commercial 229 2 234 2 Residential real estate 600 5 720 5 Consumer - - - - Total: Commercial real estate $ 1,539 $ 22 $ 1,607 $ 19 Commercial construction 315 3 315 3 Commercial 229 2 234 2 Residential real estate 1,748 12 1,339 12 Consumer - - - - $ 3,831 $ 39 $ 3,495 $ 36 The following table presents non-accrual loans by classes of the loan portfolio: March 31, 2021 December 31, 2020 (In Thousands) Commercial real estate $ - $ - Commercial construction - - Commercial - - Residential real estate 692 274 Consumer - - Total $ 692 $ 274 The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past due status as of March 31, 2021 and December 31, 2020, respectively: Greater Loan than Receivables > 30-59 Days 60-89 Days 90 Days Total Total Loan 90 Days and Past Due Past Due Past Due Past Due Current Receivables Accruing March 31, 2021 (In Thousands) Commercial real estate $ - $ - $ - $ - $ 461,331 $ 461,331 $ - Commercial construction - - - - 10,264 10,264 - Commercial - - - - 44,650 44,650 - Residential real estate 74 154 259 487 581,278 581,765 - Consumer - - - - 603 603 - Total $ 74 $ 154 $ 259 $ 487 $ 1,098,126 $ 1,098,613 $ - December 31, 2020 Commercial real estate $ 514 $ - $ - $ 514 $ 451,737 $ 452,251 $ - Commercial construction - - - - 12,176 12,176 - Commercial - - - - 48,114 48,114 - Residential real estate 336 - 42 378 576,059 576,437 - Consumer 2 - - 2 638 640 - Total $ 852 $ - $ 42 $ 894 $ 1,088,724 $ 1,089,618 $ - The following tables detail the activity in the allowance for loan losses for the three months ended March 31, 2021 and 2020: Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses (In Thousands) Three Months Ending March 31, 2021 Beginning Balance - December 31, 2020 $ 4,379 $ 150 $ 848 $ 4,485 $ 14 $ 694 $ 10,570 Charge-offs - - - - ( 2 ) - ( 2 ) Recoveries - - - 1 - - 1 Provisions 308 ( 37 ) 68 11 - 115 465 Ending Balance - March 31, 2021 $ 4,687 $ 113 $ 916 $ 4,497 $ 12 $ 809 $ 11,034 Three Months Ending March 31, 2020 Beginning Balance - December 31, 2019 $ 3,221 $ 121 $ 770 $ 3,488 $ 19 $ 403 $ 8,022 Charge-offs - - - - - - - Recoveries 24 - - - - - 24 Provisions 108 - 47 139 ( 1 ) 27 320 Ending Balance - March 31, 2020 $ 3,353 $ 121 $ 817 $ 3,627 $ 18 $ 430 $ 8,366 The following tables represent the allocation for loan losses and the related loan portfolio disaggregated based on impairment methodology at March 31, 2021 and December 31, 2020: Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total (In Thousands) March 31, 2021 Allowance for Loan Losses Ending Balance $ 4,687 $ 113 $ 916 $ 4,497 $ 12 $ 809 $ 11,034 Ending balance: individually evaluated for impairment $ 15 $ - $ 22 $ 123 $ - $ - $ 160 Ending balance: collectively evaluated for impairment $ 4,672 $ 113 $ 894 $ 4,374 $ 12 $ 809 $ 10,874 Loans receivables: Ending balance $ 461,331 $ 10,264 $ 44,650 $ 581,765 $ 603 $ 1,098,613 Ending balance: individually evaluated for impairment $ 1,530 $ 315 $ 228 $ 1,947 $ - $ 4,020 Ending balance: collectively evaluated for impairment $ 459,801 $ 9,949 $ 44,422 $ 579,818 $ 603 $ 1,094,593 December 31, 2020 Allowance for Loan Losses Ending Balance $ 4,379 $ 150 $ 848 $ 4,485 $ 14 $ 694 $ 10,570 Ending balance: individually evaluated for impairment $ 21 $ - $ 23 $ 125 $ - $ - $ 169 Ending balance: collectively evaluated for impairment $ 4,358 $ 150 $ 825 $ 4,360 $ 14 $ 694 $ 10,401 Loans receivables: Ending balance $ 452,251 $ 12,176 $ 48,114 $ 576,437 $ 640 $ 1,089,618 Ending balance: individually evaluated for impairment $ 1,547 $ 315 $ 230 $ 1,548 $ - $ 3,640 Ending balance: collectively evaluated for impairment $ 450,704 $ 11,861 $ 47,884 $ 574,889 $ 640 $ 1,085,978 Troubled Debt Restructurings The Company may grant a concession or modification for economic or legal reasons related to a borrower’s financial condition that it would not otherwise consider, resulting in a modified loan which is then identified as a troubled debt restructuring (“TDR”). The Company may modify loans through rate reductions, extensions to maturity, interest only payments, or payment modifications to better coincide the timing of payments due under the modified terms with the expected timing of cash flows from the borrowers’ operations. Loan modifications are intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. TDRs are considered impaired loans for purposes of calculating the Company’s allowance for loan losses. Payment accommodations completed since the COVID-19 outbreak are reported in accordance with Section 4013 of the CARES Act and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus as described in Note 3 and are not considered a TDR. The Company identifies loans for potential restructure primarily through direct communication with the borrower and the evaluation of the borrower’s financial statements, revenue projections, tax returns, and credit reports. Even if the borrower is not presently in default, management will consider the likelihood that cash flow shortages, adverse economic conditions, and negative trends may result in a payment default in the near future. The following table presents TDR’s outstanding: Accrual Loans Non-Accrual Loans Total Modifications March 31, 2021 (In Thousands) Commercial real estate $ 1,113 $ - $ 1,113 Commercial construction 260 - 260 Commercial 228 - 228 Residential real estate 930 14 944 Consumer - - - $ 2,531 $ 14 $ 2,545 December 31, 2020 Commercial real estate $ 1,125 $ - $ 1,125 Commercial construction 260 - 260 Commercial 230 - 230 Residential real estate 944 15 959 Consumer - - - $ 2,559 $ 15 $ 2,574 As of March 31, 2021, no available commitments were outstanding on TDRs. There were no newly restructured loans that occurred during the three months ended March 31, 2021 and 2020. There were no loans that were modified and classified as a TDR within the prior twelve months that experienced a payment default (loans ninety days or more past due) during the three months ended March 31, 2021 and 2020. |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2021 | |
Deposits [Abstract] | |
Deposits | Note 7 – Deposits The components of deposits at March 31, 2021 and December 31, 2020 are as follows: March 31, December 31, 2021 2020 (In Thousands) Demand, non-interest bearing $ 291,411 $ 269,996 Demand, NOW and money market, interest bearing 219,254 199,845 Savings 591,176 546,784 Time, $250 and over 78,267 85,272 Time, other 125,500 130,482 Total deposits $ 1,305,608 $ 1,232,379 At March 31, 2021, the scheduled maturities of time deposits are as follows (in thousands): 2021 (remainder of the year) $ 111,820 2022 50,680 2023 33,776 2024 5,647 2025 1,258 2026 586 $ 203,767 |
Short-Term And Long-Term Borrow
Short-Term And Long-Term Borrowings | 3 Months Ended |
Mar. 31, 2021 | |
Short-Term And Long-Term Borrowings [Abstract] | |
Short-Term And Long-Term Borrowings | Note 8 – Short-term and Long-term Borrowings Securities sold under agreements to repurchase, federal funds purchased, and FHLB short term advances generally represent overnight or less than twelve month borrowings. Long term advances from the FHLB are for periods of twelve months or more and are generally less than sixty months . The Bank has an agreement with the FHLB, which allows for borrowings up to a percentage of qualifying assets. At March 31, 2021, the Bank had a maximum borrowing capacity for short-term and long-term advances of approximately $ 693.6 million. This borrowing capacity with the FHLB includes a line of credit of $ 150.0 million. There were no short-term FHLB advances outstanding as of March 31, 2021 and December 31, 2020. There were $ 14.7 million in long-term FHLB advances outstanding as of March 31, 2021 and December 31, 2020. All FHLB borrowings are secured by qualifying assets of the Bank. The components of long-term borrowings with the FHLB were as follows: March 31, 2021 (Dollars in Thousands) Maturity Date Interest Rate Outstanding March 2022 0.79 % $ 10,000 March 2022 0.64 % 2,663 March 2022 0.61 % 1,988 Total FHLB Outstanding Borrowings $ 14,651 The Bank has a federal funds line of credit with the ACBB of $ 10.0 million, of which none was outstanding at March 31, 2021 and December 31, 2020. Advances from this line are unsecured. As described in Note 3, the Bank had no long-term PPPLF borrowings through the Federal Reserve Bank of Philadelphia as of March 31, 2021 and had $ 50.8 million, at an interest rate of 0.35 %, as of December 31, 2020. All PPPLF borrowings were secured by PPP loans. |
Stock Incentive Plan And Employ
Stock Incentive Plan And Employee Stock Purchase Plan | 3 Months Ended |
Mar. 31, 2021 | |
Stock Incentive Plan And Employee Stock Purchase Plan [Abstract] | |
Stock Incentive Plan And Employee Stock Purchase Plan | Note 9 – Stock Incentive Plan and Employee Stock Purchase Plan Stock Incentive Plan: The Company maintains the Embassy Bancorp, Inc. Stock Incentive Plan (the “SIP”), originally adopted by the Company’s shareholders effective June 16, 2010 and subsequently amended, restated, and approved on June 20, 2019. The SIP authorizes the Board of Directors, or a committee authorized by the Board of Directors, to award a stock based incentive to (i) designated officers (including officers who are directors) and other designated employees at the Company and its subsidiaries, and (ii) non-employee members of the Board of Directors and advisors and consultants to the Company and its subsidiaries. The SIP provides for stock based incentives in the form of incentive stock options as provided in Section 422 of the Internal Revenue Code of 1986, non-qualified stock options, stock appreciation rights, restricted stock and deferred stock awards. The term of the option, the amount of time for the option to vest after grant, if any, and other terms and limitations will be determined at the time of grant. Options granted under the SIP may not have an exercise period that is more than ten years from the time the option is granted. The maximum number of shares of common stock authorized for issuance under the SIP is 756,356 . The SIP provides for appropriate adjustments in the number and kind of shares available for grant or subject to outstanding awards under the SIP to avoid dilution in the event of a merger, stock splits, stock dividends or other changes in the capitalization of the Company. The SIP expires on June 20, 2029 . At March 31, 2021, there were 440,805 shares available for issuance under the SIP. The Company grants shares of restricted stock, under the SIP, to certain members of its Board of Directors as compensation for their services, in accordance with the Company’s Non-employee Directors Compensation program adopted in October 2010. The Company also grants restricted stock to certain officers under individual agreements with these officers. Some of these restricted stock awards vest immediately, while the remainder vest over the service period of three years to nine years . Management recognizes compensation expense for the fair value of the restricted stock awards on a straight-line basis over the requisite service period. Since inception of the plan and through the period ended March 31, 2021, there have been 199,308 awards granted. During the three months ended March 31, 2021 and 2020 there were 12,009 and 32,210 awards granted, respectively. During the three months ended March 31, 2021 and 2020 the Company recognized $ 246 thousand and $ 192 thousand in compensation expense for the restricted stock awards, respectively. Historically, the Company has granted stock options to purchase shares of stock to certain executive officers under individual agreements and/or in accordance with their respective employment agreements. There were no stock options granted for the three months ended March 31, 2021 and 2020, respectively. At March 31, 2021 there was no unrecognized cost remaining for these unexercised options and all outstanding options are fully vested. Employee Stock Purchase Plan: On January 1, 2017, the Company implemented the Embassy Bancorp, Inc. Employee Stock Purchase Plan (“ESPP”), which was approved by the Company’s shareholders at the annual meeting held on June 16, 2016. Under the ESPP, each employee of the Company and its subsidiaries who is employed on an offering date and customarily is scheduled to work at least twenty ( 20 ) hours per week and more than five ( 5 ) months in a calendar year is eligible to participate. The purchase price for shares purchased under the ESPP shall initially equal 95 % of the fair market value of such shares on the date of purchase. The purchase price may be adjusted from time to time by the Board of Directors; provided, however, that the discount to fair market value shall not exceed 15 %. The Company has authorized 350,000 shares of its common stock for the ESPP, of which 16,068 shares have been issued as of March 31, 2021. The Company recognized discount expense in relation to the ESPP of $ 1 thousand for the three months ended March 31, 2021 and 2020, respectively. |
Other Comprehensive (Loss) Inco
Other Comprehensive (Loss) Income | 3 Months Ended |
Mar. 31, 2021 | |
Other Comprehensive (Loss) Income [Abstract] | |
Other Comprehensive (Loss) Income | Note 10 – Other Comprehensive (Loss) Income US GAAP requires that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income. The components of other comprehensive (loss) income both before tax and net of tax are as follows: Three Months Ended March 31, 2021 2020 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive (loss) income: Unrealized holding (losses) gains on securities available for sale $ ( 2,546 ) $ 535 $ ( 2,011 ) $ 1,803 $ ( 378 ) $ 1,425 Reclassification adjustments for gains on securities transactions included in net income (A),(B) ( 24 ) 5 ( 19 ) - - - Total other comprehensive (loss) income $ ( 2,570 ) $ 540 $ ( 2,030 ) $ 1,803 $ ( 378 ) $ 1,425 A. Realized gains on securities transactions included in gain on sales of securities in the accompanying Consolidated Statements of Income. B. Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. A summary of the realized gains on securities available for sale for the three months ended March 31, 2021 and 2020, net of tax, is as follows: Three Months Ended March 31, 2021 2020 (In Thousands) Securities available for sale: Realized gains on securities transactions $ ( 24 ) $ - Income taxes 5 - Net of tax $ ( 19 ) $ - A summary of the accumulated other comprehensive income net of tax, is as follows: Securities Available for Sale Three Months Ended March 31, 2021 and 2020 (In Thousands) Balance January 1, 2021 $ 2,937 Other comprehensive loss before reclassifications ( 2,011 ) Amounts reclassified from accumulated other comprehensive income ( 19 ) Net other comprehensive loss during the period ( 2,030 ) Balance March 31, 2021 $ 907 Balance January 1, 2020 $ 1,340 Other comprehensive income before reclassifications 1,425 Amounts reclassified from accumulated other comprehensive income - Net other comprehensive income during the period 1,425 Balance March 31, 2020 $ 2,765 |
Basic And Diluted Earnings Per
Basic And Diluted Earnings Per Share | 3 Months Ended |
Mar. 31, 2021 | |
Basic And Diluted Earnings Per Share [Abstract] | |
Basic And Diluted Earnings Per Share | No te 11 – Basic and Diluted Earnings per Share Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during the period, as adjusted for stock dividends and splits. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method. Three Months Ended March 31, 2021 2020 (Dollars In Thousands, Except Share and Per Share Data) Net income $ 4,044 $ 2,457 Weighted average shares outstanding 7,532,246 7,443,875 Dilutive effect of potential common shares, stock options 33,235 37,630 Diluted weighted average common shares outstanding 7,565,481 7,481,505 Basic earnings per share $ 0.54 $ 0.33 Diluted earnings per share $ 0.53 $ 0.33 There were no stock options not considered in computing diluted earnings per common share for the three months ended March 31, 2021. Stock options of 4,227 were not considered in computing diluted earnings per common share for the three months ended March 31, 2020 because to do so would have been anti-dilutive. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note 12 – Fair Value Measurements The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. US GAAP establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 : Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 : Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. Level 3 : Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity). An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. For financial assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy utilized at March 31, 2021 and December 31, 2020, respectively, are as follows: (Level 1) (Level 2) Quoted Significant (Level 3) Prices in Active Other Significant Markets for Observable Unobservable Description Identical Assets Inputs Inputs Total (In Thousands) U.S. Government agency obligations $ - $ 33,327 $ - $ 33,327 Municipal bonds - 44,245 - 44,245 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial - 527 - 527 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 85,985 - 85,985 March 31, 2021 Securities available for sale $ - $ 164,084 $ - $ 164,084 U.S. Treasury securities $ - $ 9,998 $ - $ 9,998 U.S. Government agency obligations - 39,036 - 39,036 Municipal bonds - 39,376 - 39,376 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial - 543 - 543 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 41,987 - 41,987 December 31, 2020 Securities available for sale $ - $ 130,940 $ - $ 130,940 The fair value of securities available for sale are determined by matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted prices. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the security’s terms and conditions, among other things. For financial assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at March 31, 2021 and December 31, 2020, respectively, are as follows: (Level 1) (Level 2) Quoted Significant (Level 3) Prices in Active Other Significant Markets for Observable Unobservable Description Identical Assets Inputs Inputs Total (In Thousands) March 31, 2021 Impaired loans $ - $ - $ 1,354 $ 1,354 December 31, 2020 Impaired loans $ - $ - $ 1,361 $ 1,361 Impaired loans are those that are accounted for under existing FASB guidance , in which the Bank has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. Fair values may also include qualitative adjustments by management based on economic conditions and liquidation expenses. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. At March 31, 2021, of the impaired loans having an aggregate balance of $ 4.0 million, $ 2.5 million did not require a valuation allowance because the value of the collateral, including estimated selling costs, securing the loan was determined to meet or exceed the balance owed on the loan. Of the remaining $ 1.5 million in impaired loans, an aggregate valuation allowance of $ 160 thousand was required to reflect what was determined to be a shortfall in the value of the collateral as compared to the balance on such loans. Real estate properties acquired through, or in lieu of, foreclosure are to be sold and are carried at fair value less estimated cost to sell. Fair value is based upon independent market prices or appraised value of the property. These assets would be included in Level 3 fair value based upon the lowest level of input that is significant to the fair value measurement. At March 31, 2021 and December 31, 2020, respectively, the Company had no real estate properties acquired through, or in lieu of, foreclosure. The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements Description Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) (Dollars In Thousands) March 31, 2021: Impaired loans $ 1,354 Appraisal of collateral and Appraisal adjustments (1) 0 % to - 25 % (- 15.1 %) pending agreement of sale Liquidation expenses (2) 0 % to - 10.0 % (- 8.5 %) December 31, 2020: Impaired loans $ 1,361 Appraisal of collateral and Appraisal adjustments (1) 0 % to - 25 % (- 15.1 %) pending agreement of sale Liquidation expenses (2) 0 % to - 10.0 % (- 8.5 %) 1. Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal. The range and weighted average of appraisal adjustments are presented as a percent of the appraisal. 2. Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale. The estimated fair values of the Company’s financial instruments were as follows at March 31, 2021 and December 31, 2020 : (Level 1) Quoted (Level 2) Prices in Significant (Level 3) Active Other Significant Carrying Fair Value Markets for Observable Unobservable Amount Estimate Identical Assets Inputs Inputs (In Thousands) March 31, 2021: Financial assets: Cash and cash equivalents $ 120,114 $ 120,114 $ 120,114 $ - $ - Securities available-for-sale 164,084 164,084 - 164,084 - Loans receivable, net of allowance 1,087,756 1,139,248 - - 1,139,248 Paycheck Protection Program loans receivable 47,714 47,938 - - 47,938 Restricted investments in bank stock 1,330 1,330 - 1,330 - Accrued interest receivable 3,114 3,114 - 3,114 - Financial liabilities: Deposits 1,305,608 1,308,187 - 1,308,187 - Securities sold under agreements to repurchase and federal funds purchased 9,594 9,594 - 9,594 - Long-term borrowings 14,651 14,694 - - 14,694 Accrued interest payable 1,069 1,069 - 1,069 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - December 31, 2020: Financial assets: Cash and cash equivalents $ 131,907 $ 131,907 $ 131,907 $ - $ - Securities available-for-sale 130,940 130,940 - 13,940 - Loans receivable, net of allowance 1,079,339 1,158,545 - - 1,158,545 Paycheck Protection Program loans receivable 54,334 54,632 - 54,632 Restricted investments in bank stock 1,330 1,330 - 1,330 - Accrued interest receivable 3,136 3,136 - 3,136 - Financial liabilities: Deposits 1,232,379 1,235,483 - 1,235,483 - Securities sold under agreements to repurchase and federal funds purchased 13,612 13,612 - 13,612 - Long-term borrowings 14,651 14,707 - - 14,707 Paycheck Protection Program Liquidity Facility 50,794 50,810 - 50,810 Accrued interest payable 1,640 1,640 - 1,640 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - |
Future Accounting Standards
Future Accounting Standards | 3 Months Ended |
Mar. 31, 2021 | |
Future Accounting Standards [Abstract] | |
Future Accounting Standards | Note 13 – Future Accounting Standards In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, “ Financial Instruments - Credit Losses ” . ASU 2016-13 requires entities to report “ expected ” credit losses on financial instruments and other commitments to extend credit rather than the current “ incurred loss ” model. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU will also require enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity ’ s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. In November 2019, the FASB issued an update to defer the implementation date for smaller reporting companies from 2020 to 2023. The Company currently qualifies as a smaller reporting company under SEC Regulation S-K and, therefore, the guidance is effective for the Company in 2023. The Company has not yet determined the impact this standard will have on its consolidated financial statements or its results of operations. |
Basis Of Presentation (Policy)
Basis Of Presentation (Policy) | 3 Months Ended |
Mar. 31, 2021 | |
Basis Of Presentation [Abstract] | |
Consolidation | Embassy Bancorp, Inc. (the “Company”) is a Pennsylvania corporation organized in 2008 and registered as a bank holding company pursuant to the Bank Holding Company Act of 1956, as amended (the “BHC Act”). The Company was formed for purposes of acquiring Embassy Bank For The Lehigh Valley (the “Bank”) in connection with the reorganization of the Bank into a bank holding company structure, which was consummated on November 11, 2008. Accordingly, the Company owns all of the capital stock of the Bank, giving the organization more flexibility in meeting its capital needs as the Company continues to grow. Embassy Holdings, LLC (the “LLC”) is a wholly-owned subsidiary of the Bank organized to engage in the holding of property acquired by the Bank in satisfaction of debts previously contracted. As such, the consolidated financial statements contained herein include the accounts of the Company, the Bank and the LLC. All significant intercompany transactions and balances have been eliminated. The Bank, which is the Company’s principal operating subsidiary, was originally incorporated as a Pennsylvania bank on May 11, 2001 and opened its doors on November 6, 2001. It was formed by a group of local business persons and professionals with significant prior experience in community banking in the Lehigh Valley area of Pennsylvania, the Bank’s primary market area. |
Basis Of Accounting | The accompanying unaudited financial statements have been prepared in accordance with United States of America generally accepted accounting principles (“US GAAP”) for interim financial information and in accordance with instructions for Form 10-Q and Rule 10-01 of the Securities and Exchange Commission Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. |
COVID-19 (Tables)
COVID-19 (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
COVID-19 [Abstract] | |
Schedule Of COVID-19 Payment Accommodations Based On Loan Type And Amount | March 31, 2021 Number of Loans - Payment Accommodation Period Ended Number of Loans - Payment Accommodation Period Active Total Number of Loans Loan Amount - Payment Accommodation Period Ended Loan Amount - Payment Accommodation Period Active Total Loan Amount (Dollars In Thousands) Commercial real estate 128 4 132 $ 110,298 $ 16,538 $ 126,836 Commercial 40 - 40 6,636 - 6,636 Residential real estate 67 - 67 13,708 - 13,708 Consumer 2 - 2 29 - 29 Total 237 4 241 $ 130,671 $ 16,538 $ 147,209 December 31, 2020 Number of Loans - Payment Accommodation Period Ended Number of Loans - Payment Accommodation Period Active Total Number of Loans Loan Amount - Payment Accommodation Period Ended Loan Amount - Payment Accommodation Period Active Total Loan Amount (Dollars In Thousands) Commercial real estate 130 7 137 $ 112,016 $ 16,830 $ 128,846 Commercial 43 1 44 7,445 752 8,197 Residential real estate 68 4 72 13,517 717 14,234 Consumer 2 - 2 31 - 31 Total 243 12 255 $ 133,009 $ 18,299 $ 151,308 |
Securities Available For Sale (
Securities Available For Sale (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Securities Available For Sale [Abstract] | |
Amortized Cost And Fair Values Of Securities Available-For-Sale | Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In Thousands) March 31, 2021: U.S. Government agency obligations $ 33,392 $ 1 $ ( 66 ) $ 33,327 Municipal bonds 43,192 1,286 ( 233 ) 44,245 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial 512 15 - 527 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 85,840 1,349 ( 1,204 ) 85,985 Total $ 162,936 $ 2,651 $ ( 1,503 ) $ 164,084 December 31, 2020: U.S. Treasury securities $ 9,998 $ - $ - $ 9,998 U.S. Government agency obligations 39,059 1 ( 24 ) 39,036 Municipal bonds 37,409 1,967 - 39,376 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial 512 31 - 543 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 40,244 1,743 - 41,987 Total $ 127,222 $ 3,742 $ ( 24 ) $ 130,940 |
Securities Available-For-Sale By Contractual Maturity | Amortized Fair Cost Value (In Thousands) Due in one year or less $ 4,623 $ 4,624 Due after one year through five years 30,830 30,771 Due after five years through ten years 8,301 8,632 Due after ten years 32,830 33,545 76,584 77,572 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial 512 527 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 85,840 85,985 Total $ 162,936 $ 164,084 |
Investments' Gross Unrealized Losses And Fair Value | Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2021: (In Thousands) U.S. Government agency obligations $ 20,094 $ ( 66 ) $ - $ - $ 20,094 $ ( 66 ) Municipal bonds 7,117 ( 233 ) - - 7,117 ( 233 ) U.S. Government Sponsored Enterprise (GSE) - Mortgage -backed securities - residential 53,169 ( 1,204 ) - - 53,169 ( 1,204 ) Total Temporarily Impaired Securities $ 80,380 $ ( 1,503 ) $ - $ - $ 80,380 $ ( 1,503 ) . December 31, 2020: U.S. Government agency obligations $ 31,369 $ ( 24 ) $ - $ - $ 31,369 $ ( 24 ) Total Temporarily Impaired Securities $ 31,369 $ ( 24 ) $ - $ - $ 31,369 $ ( 24 ) |
Loans And Credit Quality (Table
Loans And Credit Quality (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Loans And Credit Quality [Abstract] | |
Composition Of Loans Receivable | March 31, 2021 December 31, 2020 Percentage of Percentage of Balance total Loans Balance total Loans (Dollars in Thousands) Commercial real estate $ 461,331 41.99 % $ 452,251 41.51 % Commercial construction 10,264 0.93 % 12,176 1.12 % Commercial 44,650 4.06 % 48,114 4.42 % Residential real estate 581,765 52.97 % 576,437 52.90 % Consumer 603 0.05 % 640 0.05 % Total loans 1,098,613 100.00 % 1,089,618 100.00 % Unearned origination fees 178 291 Allowance for loan losses ( 11,034 ) ( 10,570 ) Net Loans $ 1,087,757 $ 1,079,339 |
Schedule Of Loan Portfolio By Aggregate Risk Rating | Pass Special Mention Substandard Doubtful Total March 31, 2021 (In Thousands) Commercial real estate $ 459,916 $ - $ 1,415 $ - $ 461,331 Commercial construction 9,949 - 315 - 10,264 Commercial 44,650 - - - 44,650 Residential real estate 580,267 506 992 - 581,765 Consumer 603 - - - 603 Total $ 1,095,385 $ 506 $ 2,722 $ - $ 1,098,613 December 31, 2020 Commercial real estate $ 450,823 $ - $ 1,428 $ - $ 452,251 Commercial construction 11,861 - 315 - 12,176 Commercial 48,114 - - - 48,114 Residential real estate 575,344 512 581 - 576,437 Consumer 640 - - - 640 Total $ 1,086,782 $ 512 $ 2,324 $ - $ 1,089,618 |
Schedule Of Impaired Loans | The following table summarizes information in regards to impaired loans by loan portfolio class as of March 31, 2021 and December 31, 2020, respectively: March 31, 2021 December 31, 2020 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance (In Thousands) With no related allowance recorded: Commercial real estate $ 840 $ 1,080 $ 851 $ 1,091 Commercial construction 315 315 315 315 Commercial - - - - Residential real estate 1,351 1,421 944 1,014 Consumer - - - - With an allowance recorded: Commercial real estate $ 690 $ 690 $ 15 $ 696 $ 696 $ 21 Commercial construction - - - - - - Commercial 228 228 22 230 230 23 Residential real estate 596 596 123 604 604 125 Consumer - - - - - - Total: Commercial real estate $ 1,530 $ 1,770 $ 15 $ 1,547 $ 1,787 $ 21 Commercial construction 315 315 - 315 315 - Commercial 228 228 22 230 230 23 Residential real estate 1,947 2,017 123 1,548 1,618 125 Consumer - - - - - - $ 4,020 $ 4,330 $ 160 $ 3,640 $ 3,950 $ 169 The following tables summarize information regarding the average recorded investment and interest income recognized on impaired loans by loan portfolio for the three months ended March 31, 2021 and 2020, respectively: Three Months Ended March 31, 2021 2020 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In Thousands) With no related allowance recorded: Commercial real estate $ 846 $ 15 $ 1,257 $ 13 Commercial construction 315 3 315 3 Commercial - - - - Residential real estate 1,148 7 619 7 Consumer - - - - With an allowance recorded: Commercial real estate $ 693 $ 7 $ 350 $ 6 Commercial construction - - - - Commercial 229 2 234 2 Residential real estate 600 5 720 5 Consumer - - - - Total: Commercial real estate $ 1,539 $ 22 $ 1,607 $ 19 Commercial construction 315 3 315 3 Commercial 229 2 234 2 Residential real estate 1,748 12 1,339 12 Consumer - - - - $ 3,831 $ 39 $ 3,495 $ 36 |
Schedule Of Nonaccrual Loans | March 31, 2021 December 31, 2020 (In Thousands) Commercial real estate $ - $ - Commercial construction - - Commercial - - Residential real estate 692 274 Consumer - - Total $ 692 $ 274 |
Schedule Of Past Due Loans | Greater Loan than Receivables > 30-59 Days 60-89 Days 90 Days Total Total Loan 90 Days and Past Due Past Due Past Due Past Due Current Receivables Accruing March 31, 2021 (In Thousands) Commercial real estate $ - $ - $ - $ - $ 461,331 $ 461,331 $ - Commercial construction - - - - 10,264 10,264 - Commercial - - - - 44,650 44,650 - Residential real estate 74 154 259 487 581,278 581,765 - Consumer - - - - 603 603 - Total $ 74 $ 154 $ 259 $ 487 $ 1,098,126 $ 1,098,613 $ - December 31, 2020 Commercial real estate $ 514 $ - $ - $ 514 $ 451,737 $ 452,251 $ - Commercial construction - - - - 12,176 12,176 - Commercial - - - - 48,114 48,114 - Residential real estate 336 - 42 378 576,059 576,437 - Consumer 2 - - 2 638 640 - Total $ 852 $ - $ 42 $ 894 $ 1,088,724 $ 1,089,618 $ - |
Activity In Allowance For Loan Losses | Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses (In Thousands) Three Months Ending March 31, 2021 Beginning Balance - December 31, 2020 $ 4,379 $ 150 $ 848 $ 4,485 $ 14 $ 694 $ 10,570 Charge-offs - - - - ( 2 ) - ( 2 ) Recoveries - - - 1 - - 1 Provisions 308 ( 37 ) 68 11 - 115 465 Ending Balance - March 31, 2021 $ 4,687 $ 113 $ 916 $ 4,497 $ 12 $ 809 $ 11,034 Three Months Ending March 31, 2020 Beginning Balance - December 31, 2019 $ 3,221 $ 121 $ 770 $ 3,488 $ 19 $ 403 $ 8,022 Charge-offs - - - - - - - Recoveries 24 - - - - - 24 Provisions 108 - 47 139 ( 1 ) 27 320 Ending Balance - March 31, 2020 $ 3,353 $ 121 $ 817 $ 3,627 $ 18 $ 430 $ 8,366 |
Allocation Of Allowance For Loan Losses And Related Loan Portfolio | Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total (In Thousands) March 31, 2021 Allowance for Loan Losses Ending Balance $ 4,687 $ 113 $ 916 $ 4,497 $ 12 $ 809 $ 11,034 Ending balance: individually evaluated for impairment $ 15 $ - $ 22 $ 123 $ - $ - $ 160 Ending balance: collectively evaluated for impairment $ 4,672 $ 113 $ 894 $ 4,374 $ 12 $ 809 $ 10,874 Loans receivables: Ending balance $ 461,331 $ 10,264 $ 44,650 $ 581,765 $ 603 $ 1,098,613 Ending balance: individually evaluated for impairment $ 1,530 $ 315 $ 228 $ 1,947 $ - $ 4,020 Ending balance: collectively evaluated for impairment $ 459,801 $ 9,949 $ 44,422 $ 579,818 $ 603 $ 1,094,593 December 31, 2020 Allowance for Loan Losses Ending Balance $ 4,379 $ 150 $ 848 $ 4,485 $ 14 $ 694 $ 10,570 Ending balance: individually evaluated for impairment $ 21 $ - $ 23 $ 125 $ - $ - $ 169 Ending balance: collectively evaluated for impairment $ 4,358 $ 150 $ 825 $ 4,360 $ 14 $ 694 $ 10,401 Loans receivables: Ending balance $ 452,251 $ 12,176 $ 48,114 $ 576,437 $ 640 $ 1,089,618 Ending balance: individually evaluated for impairment $ 1,547 $ 315 $ 230 $ 1,548 $ - $ 3,640 Ending balance: collectively evaluated for impairment $ 450,704 $ 11,861 $ 47,884 $ 574,889 $ 640 $ 1,085,978 |
Troubled Debt Restructuring Outstanding | Accrual Loans Non-Accrual Loans Total Modifications March 31, 2021 (In Thousands) Commercial real estate $ 1,113 $ - $ 1,113 Commercial construction 260 - 260 Commercial 228 - 228 Residential real estate 930 14 944 Consumer - - - $ 2,531 $ 14 $ 2,545 December 31, 2020 Commercial real estate $ 1,125 $ - $ 1,125 Commercial construction 260 - 260 Commercial 230 - 230 Residential real estate 944 15 959 Consumer - - - $ 2,559 $ 15 $ 2,574 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Deposits [Abstract] | |
Components Of Deposits | March 31, December 31, 2021 2020 (In Thousands) Demand, non-interest bearing $ 291,411 $ 269,996 Demand, NOW and money market, interest bearing 219,254 199,845 Savings 591,176 546,784 Time, $250 and over 78,267 85,272 Time, other 125,500 130,482 Total deposits $ 1,305,608 $ 1,232,379 |
Scheduled Maturities of Time Deposits | 2021 (remainder of the year) $ 111,820 2022 50,680 2023 33,776 2024 5,647 2025 1,258 2026 586 $ 203,767 |
Short-Term And Long-Term Borr_2
Short-Term And Long-Term Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Federal Home Loan Bank [Member] | |
Components Of Long-Term Borrowings With FHLB | March 31, 2021 (Dollars in Thousands) Maturity Date Interest Rate Outstanding March 2022 0.79 % $ 10,000 March 2022 0.64 % 2,663 March 2022 0.61 % 1,988 Total FHLB Outstanding Borrowings $ 14,651 |
Other Comprehensive (Loss) In_2
Other Comprehensive (Loss) Income (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Other Comprehensive (Loss) Income [Abstract] | |
Components Of Other Comprehensive Income, Both Before Tax And Net Of Tax | Three Months Ended March 31, 2021 2020 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive (loss) income: Unrealized holding (losses) gains on securities available for sale $ ( 2,546 ) $ 535 $ ( 2,011 ) $ 1,803 $ ( 378 ) $ 1,425 Reclassification adjustments for gains on securities transactions included in net income (A),(B) ( 24 ) 5 ( 19 ) - - - Total other comprehensive (loss) income $ ( 2,570 ) $ 540 $ ( 2,030 ) $ 1,803 $ ( 378 ) $ 1,425 A. Realized gains on securities transactions included in gain on sales of securities in the accompanying Consolidated Statements of Income. B. Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. |
Summary Of Realized Gains On Securities Available For Sale, Net Of Tax | Three Months Ended March 31, 2021 2020 (In Thousands) Securities available for sale: Realized gains on securities transactions $ ( 24 ) $ - Income taxes 5 - Net of tax $ ( 19 ) $ - |
Summary Of Accumulated Other Comprehensive Income, Net Of Tax | Securities Available for Sale Three Months Ended March 31, 2021 and 2020 (In Thousands) Balance January 1, 2021 $ 2,937 Other comprehensive loss before reclassifications ( 2,011 ) Amounts reclassified from accumulated other comprehensive income ( 19 ) Net other comprehensive loss during the period ( 2,030 ) Balance March 31, 2021 $ 907 Balance January 1, 2020 $ 1,340 Other comprehensive income before reclassifications 1,425 Amounts reclassified from accumulated other comprehensive income - Net other comprehensive income during the period 1,425 Balance March 31, 2020 $ 2,765 |
Basic And Diluted Earnings Pe_2
Basic And Diluted Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Basic And Diluted Earnings Per Share [Abstract] | |
Earnings Per Share | Three Months Ended March 31, 2021 2020 (Dollars In Thousands, Except Share and Per Share Data) Net income $ 4,044 $ 2,457 Weighted average shares outstanding 7,532,246 7,443,875 Dilutive effect of potential common shares, stock options 33,235 37,630 Diluted weighted average common shares outstanding 7,565,481 7,481,505 Basic earnings per share $ 0.54 $ 0.33 Diluted earnings per share $ 0.53 $ 0.33 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Measurements [Abstract] | |
Fair Value Of Financial Assets Measured On Recurring Basis | (Level 1) (Level 2) Quoted Significant (Level 3) Prices in Active Other Significant Markets for Observable Unobservable Description Identical Assets Inputs Inputs Total (In Thousands) U.S. Government agency obligations $ - $ 33,327 $ - $ 33,327 Municipal bonds - 44,245 - 44,245 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial - 527 - 527 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 85,985 - 85,985 March 31, 2021 Securities available for sale $ - $ 164,084 $ - $ 164,084 U.S. Treasury securities $ - $ 9,998 $ - $ 9,998 U.S. Government agency obligations - 39,036 - 39,036 Municipal bonds - 39,376 - 39,376 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial - 543 - 543 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 41,987 - 41,987 December 31, 2020 Securities available for sale $ - $ 130,940 $ - $ 130,940 |
Fair Value Of Financial Assets Measured On Nonrecurring Basis | (Level 1) (Level 2) Quoted Significant (Level 3) Prices in Active Other Significant Markets for Observable Unobservable Description Identical Assets Inputs Inputs Total (In Thousands) March 31, 2021 Impaired loans $ - $ - $ 1,354 $ 1,354 December 31, 2020 Impaired loans $ - $ - $ 1,361 $ 1,361 |
Quantitative Information About Level 3 Fair Value Measurements | Quantitative Information about Level 3 Fair Value Measurements Description Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) (Dollars In Thousands) March 31, 2021: Impaired loans $ 1,354 Appraisal of collateral and Appraisal adjustments (1) 0 % to - 25 % (- 15.1 %) pending agreement of sale Liquidation expenses (2) 0 % to - 10.0 % (- 8.5 %) December 31, 2020: Impaired loans $ 1,361 Appraisal of collateral and Appraisal adjustments (1) 0 % to - 25 % (- 15.1 %) pending agreement of sale Liquidation expenses (2) 0 % to - 10.0 % (- 8.5 %) 1. Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal. The range and weighted average of appraisal adjustments are presented as a percent of the appraisal. 2. Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale. |
Estimated Fair Value Of Financial Instruments | (Level 1) Quoted (Level 2) Prices in Significant (Level 3) Active Other Significant Carrying Fair Value Markets for Observable Unobservable Amount Estimate Identical Assets Inputs Inputs (In Thousands) March 31, 2021: Financial assets: Cash and cash equivalents $ 120,114 $ 120,114 $ 120,114 $ - $ - Securities available-for-sale 164,084 164,084 - 164,084 - Loans receivable, net of allowance 1,087,756 1,139,248 - - 1,139,248 Paycheck Protection Program loans receivable 47,714 47,938 - - 47,938 Restricted investments in bank stock 1,330 1,330 - 1,330 - Accrued interest receivable 3,114 3,114 - 3,114 - Financial liabilities: Deposits 1,305,608 1,308,187 - 1,308,187 - Securities sold under agreements to repurchase and federal funds purchased 9,594 9,594 - 9,594 - Long-term borrowings 14,651 14,694 - - 14,694 Accrued interest payable 1,069 1,069 - 1,069 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - December 31, 2020: Financial assets: Cash and cash equivalents $ 131,907 $ 131,907 $ 131,907 $ - $ - Securities available-for-sale 130,940 130,940 - 13,940 - Loans receivable, net of allowance 1,079,339 1,158,545 - - 1,158,545 Paycheck Protection Program loans receivable 54,334 54,632 - 54,632 Restricted investments in bank stock 1,330 1,330 - 1,330 - Accrued interest receivable 3,136 3,136 - 3,136 - Financial liabilities: Deposits 1,232,379 1,235,483 - 1,235,483 - Securities sold under agreements to repurchase and federal funds purchased 13,612 13,612 - 13,612 - Long-term borrowings 14,651 14,707 - - 14,707 Paycheck Protection Program Liquidity Facility 50,794 50,810 - 50,810 Accrued interest payable 1,640 1,640 - 1,640 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - |
COVID-19 (Narrative) (Details)
COVID-19 (Narrative) (Details) | Apr. 30, 2021USD ($)loan | Feb. 03, 2021USD ($) | Apr. 30, 2021USD ($)loan | Mar. 31, 2021USD ($)loan | Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($)loan |
Loans amount | $ 1,098,613,000 | $ 1,089,618,000 | ||||
PPPLF borrowings | 50,794,000 | |||||
Repayment of PPPLF borrowings | 50,794,000 | |||||
Increase in allowance for loan losses | 464,000 | |||||
Loans receivable, allowance | $ 11,034,000 | $ 10,570,000 | ||||
Percentage of allowance for loan losses | 1.00% | 0.97% | ||||
Percentage of nonperforming loans to total loans receivable | 0.29% | 0.25% | 0.26% | |||
Percentage of loan portfolio collateralized by real estate | 95.00% | |||||
Charge-offs | $ 2,000 | $ 0 | ||||
Percentage of loan portfolio to borrowers in the more particularly hard-hit industries | 6.00% | |||||
CARES Act [Member] | ||||||
Number of PPP loans | loan | 357 | 470 | ||||
PPP loan receivable amount for which SBA loan guarantee approval received | $ 47,700,000 | $ 54,300,000 | ||||
Net deferred PPP loan fees and costs | 1,400,000 | 1,200,000 | ||||
Proceeds from forgiveness payments on PPP loans from SBA | $ 36,200,000 | |||||
PPP loans guarantee percent by the SBA | 100.00% | |||||
Interest rate on PPP loans | 1.00% | |||||
Percentage of proceeds customers use for payroll costs to qualify for SBA loan forgiveness | 60.00% | |||||
PPPLF borrowings | 50,800,000 | |||||
Repayment of PPPLF borrowings | $ 50,800,000 | |||||
Loans receivable, allowance | $ 0 | |||||
Commercial [Member] | ||||||
Loans amount | 44,650,000 | 48,114,000 | ||||
Consumer [Member] | ||||||
Loans amount | 603,000 | 640,000 | ||||
Charge-offs | 2,000 | |||||
Substandard [Member] | ||||||
Loans amount | $ 2,722,000 | $ 2,324,000 | ||||
Minimum [Member] | CARES Act [Member] | ||||||
PPP loans maturity term | 2 years | |||||
Maximum [Member] | CARES Act [Member] | ||||||
PPP loans maturity term | 5 years | |||||
Section 4013 Loan [Member] | Fourth Short-term (Three Month) Payment Accommodation [Member] | Commercial [Member] | CARES Act [Member] | ||||||
Number of loans included in COVID-19 payment accommodations | loan | 4 | |||||
Loans amount | $ 16,500,000 | |||||
Section 4013 Loan [Member] | Fourth Short-term (Three Month) Payment Accommodation [Member] | Commercial [Member] | Travel And Hotel Industry [Member] | CARES Act [Member] | ||||||
Loans amount | 11,400,000 | |||||
Section 4013 Loan [Member] | Fourth Short-term (Three Month) Payment Accommodation [Member] | Commercial [Member] | Assisted Living Facility Industry [Member] | CARES Act [Member] | ||||||
Loans amount | $ 3,800,000 | |||||
Section 4013 Loan [Member] | Fourth Short-term (Three Month) Payment Accommodation [Member] | Commercial [Member] | Restaurant Industry [Member] | CARES Act [Member] | ||||||
Number of loans included in COVID-19 payment accommodations | loan | 2 | |||||
Loans amount | $ 1,400,000 | |||||
Section 4013 Loan [Member] | Payment Accommodations Period Ended [Member] | CARES Act [Member] | ||||||
Number of loans included in COVID-19 payment accommodations | loan | 236 | |||||
Loans amount | $ 130,300,000 | |||||
Section 4013 Loan [Member] | Payment Accommodations Period Ended [Member] | Substandard [Member] | Consumer [Member] | CARES Act [Member] | ||||||
Number of loans included in COVID-19 payment accommodations | loan | 1 | |||||
Loans amount | $ 418,000 | |||||
New Section 4013 Loan [Member] | CARES Act [Member] | ||||||
Number of loans included in COVID-19 payment accommodations | loan | 0 | |||||
New PPP Loans [Member] | CARES Act [Member] | ||||||
Number of PPP loans | loan | 273 | |||||
PPP loan receivable amount for which SBA loan guarantee approval received | $ 28,600,000 | |||||
Net deferred PPP loan fees and costs | $ 1,200,000 | |||||
Subsequent Event [Member] | CARES Act [Member] | ||||||
Number of PPP loans | loan | 355 | |||||
PPP loan receivable amount for which SBA loan guarantee approval received | $ 43,600,000 | $ 43,600,000 | ||||
Net deferred PPP loan fees and costs | $ 1,400,000 | 1,400,000 | ||||
Subsequent Event [Member] | Section 4013 Loan [Member] | CARES Act [Member] | ||||||
Number of loans included in COVID-19 payment accommodations | loan | 236 | |||||
Loans amount | $ 144,700,000 | 144,700,000 | ||||
Subsequent Event [Member] | Section 4013 Loan [Member] | Substandard [Member] | Consumer [Member] | CARES Act [Member] | ||||||
Number of loans included in COVID-19 payment accommodations | loan | 1 | |||||
Loans amount | $ 418,000 | $ 418,000 | ||||
Subsequent Event [Member] | Section 4013 Loan [Member] | Payment Accommodations Period Ended [Member] | Commercial [Member] | CARES Act [Member] | ||||||
Number of loans included in COVID-19 payment accommodations | loan | 4 | |||||
Subsequent Event [Member] | New Section 4013 Loan [Member] | CARES Act [Member] | ||||||
Number of loans included in COVID-19 payment accommodations | loan | 0 | |||||
Subsequent Event [Member] | New PPP Loans [Member] | CARES Act [Member] | ||||||
Number of PPP loans | loan | 48 | |||||
PPP loan receivable amount for which SBA loan guarantee approval received | $ 2,200,000 | $ 2,200,000 | ||||
Net deferred PPP loan fees and costs | $ 141,000 | 141,000 | ||||
Proceeds from forgiveness payments on PPP loans from SBA | $ 6,500,000 |
COVID-19 (Schedule Of COVID-19
COVID-19 (Schedule Of COVID-19 Payment Accommodations Based On Loan Type And Amount) (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021USD ($)loan | Dec. 31, 2020USD ($)loan | |
Loans amount | $ 1,098,613 | $ 1,089,618 |
Commercial real estate [Member] | ||
Loans amount | 461,331 | 452,251 |
Commercial [Member] | ||
Loans amount | 44,650 | 48,114 |
Residential real estate [Member] | ||
Loans amount | 581,765 | 576,437 |
Consumer [Member] | ||
Loans amount | $ 603 | $ 640 |
COVID-19 CARES Act Section 4013 Loans [Member] | ||
Number of Loans | loan | 241 | 255 |
Loans amount | $ 147,209 | $ 151,308 |
COVID-19 CARES Act Section 4013 Loans [Member] | Commercial real estate [Member] | ||
Number of Loans | loan | 132 | 137 |
Loans amount | $ 126,836 | $ 128,846 |
COVID-19 CARES Act Section 4013 Loans [Member] | Commercial [Member] | ||
Number of Loans | loan | 40 | 44 |
Loans amount | $ 6,636 | $ 8,197 |
COVID-19 CARES Act Section 4013 Loans [Member] | Residential real estate [Member] | ||
Number of Loans | loan | 67 | 72 |
Loans amount | $ 13,708 | $ 14,234 |
COVID-19 CARES Act Section 4013 Loans [Member] | Consumer [Member] | ||
Number of Loans | loan | 2 | 2 |
Loans amount | $ 29 | $ 31 |
COVID-19 CARES Act Section 4013 Loans [Member] | Loans Payment Accommodation Period Ended [Member] | ||
Number of Loans | loan | 237 | 243 |
Loans amount | $ 130,671 | $ 133,009 |
COVID-19 CARES Act Section 4013 Loans [Member] | Loans Payment Accommodation Period Ended [Member] | Commercial real estate [Member] | ||
Number of Loans | loan | 128 | 130 |
Loans amount | $ 110,298 | $ 112,016 |
COVID-19 CARES Act Section 4013 Loans [Member] | Loans Payment Accommodation Period Ended [Member] | Commercial [Member] | ||
Number of Loans | loan | 40 | 43 |
Loans amount | $ 6,636 | $ 7,445 |
COVID-19 CARES Act Section 4013 Loans [Member] | Loans Payment Accommodation Period Ended [Member] | Residential real estate [Member] | ||
Number of Loans | loan | 67 | 68 |
Loans amount | $ 13,708 | $ 13,517 |
COVID-19 CARES Act Section 4013 Loans [Member] | Loans Payment Accommodation Period Ended [Member] | Consumer [Member] | ||
Number of Loans | loan | 2 | 2 |
Loans amount | $ 29 | $ 31 |
COVID-19 CARES Act Section 4013 Loans [Member] | Loans Payment Accommodation Period Active [Member] | ||
Number of Loans | loan | 4 | 12 |
Loans amount | $ 16,538 | $ 18,299 |
COVID-19 CARES Act Section 4013 Loans [Member] | Loans Payment Accommodation Period Active [Member] | Commercial real estate [Member] | ||
Number of Loans | loan | 4 | 7 |
Loans amount | $ 16,538 | $ 16,830 |
COVID-19 CARES Act Section 4013 Loans [Member] | Loans Payment Accommodation Period Active [Member] | Commercial [Member] | ||
Number of Loans | loan | 1 | |
Loans amount | $ 752 | |
COVID-19 CARES Act Section 4013 Loans [Member] | Loans Payment Accommodation Period Active [Member] | Residential real estate [Member] | ||
Number of Loans | loan | 4 | |
Loans amount | $ 717 |
Securities Available For Sale_2
Securities Available For Sale (Narrative) (Details) | 3 Months Ended | ||
Mar. 31, 2021USD ($)security | Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($)security | |
Securities Available For Sale [Abstract] | |||
Sale of securities | $ 0 | ||
Securities pledged as collateral | $ 106,100,000 | $ 98,700,000 | |
Realized gross gains | 24,000 | ||
Realized losses | $ 0 | ||
Securities in an unrealized loss position | security | 21 | 5 |
Securities Available For Sale_3
Securities Available For Sale (Amortized Cost And Fair Values Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 162,936 | $ 127,222 |
Gross Unrealized Gains | 2,651 | 3,742 |
Gross Unrealized Losses | (1,503) | (24) |
Fair Value | 164,084 | 130,940 |
US Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 9,998 | |
Fair Value | 9,998 | |
U.S Government Agency Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 33,392 | 39,059 |
Gross Unrealized Gains | 1 | 1 |
Gross Unrealized Losses | (66) | (24) |
Fair Value | 33,327 | 39,036 |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 43,192 | 37,409 |
Gross Unrealized Gains | 1,286 | 1,967 |
Gross Unrealized Losses | (233) | |
Fair Value | 44,245 | 39,376 |
U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 512 | 512 |
Gross Unrealized Gains | 15 | 31 |
Fair Value | 527 | 543 |
U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 85,840 | 40,244 |
Gross Unrealized Gains | 1,349 | 1,743 |
Gross Unrealized Losses | (1,204) | |
Fair Value | $ 85,985 | $ 41,987 |
Securities Available For Sale_4
Securities Available For Sale (Securities Available-For-Sale By Contractual Maturity) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Due in one year or less | $ 4,623 | |
Amortized Cost, Due after one year through five years | 30,830 | |
Amortized Cost, Due after five years through ten years | 8,301 | |
Amortized Cost, Due after ten years | 32,830 | |
Amortized Cost, Debt Maturities, Total | 76,584 | |
Amortized Cost | 162,936 | $ 127,222 |
Fair Value, Due in one year or less | 4,624 | |
Fair Value, Due after one year through five years | 30,771 | |
Fair Value, Due after five years through ten years | 8,632 | |
Fair Value, Due after ten years | 33,545 | |
Fair Value, Debt maturities, Total | 77,572 | |
Fair Value, Total | 164,084 | 130,940 |
U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities | 512 | |
Amortized Cost | 512 | 512 |
Fair Value, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities | 527 | |
Fair Value, Total | 527 | 543 |
U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities | 85,840 | |
Amortized Cost | 85,840 | 40,244 |
Fair Value, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities | 85,985 | |
Fair Value, Total | $ 85,985 | $ 41,987 |
Securities Available For Sale_5
Securities Available For Sale (Investments' Gross Unrealized Losses And Fair Value) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | $ 80,380 | $ 31,369 |
Fair Value, Total | 80,380 | 31,369 |
Unrealized Losses, Less Than 12 Months | (1,503) | (24) |
Unrealized Losses, Total | (1,503) | (24) |
U.S Government Agency Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 20,094 | 31,369 |
Fair Value, Total | 20,094 | 31,369 |
Unrealized Losses, Less Than 12 Months | (66) | (24) |
Unrealized Losses, Total | (66) | $ (24) |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 7,117 | |
Fair Value, Total | 7,117 | |
Unrealized Losses, Less Than 12 Months | (233) | |
Unrealized Losses, Total | (233) | |
Residential [Member] | U.S. GSE - Mortgage-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 53,169 | |
Fair Value, Total | 53,169 | |
Unrealized Losses, Less Than 12 Months | (1,204) | |
Unrealized Losses, Total | $ (1,204) |
Restricted Investment In Bank_2
Restricted Investment In Bank Stock (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Federal Home Loan Bank of Pittsburgh [Member] | ||
Investment stock at a carrying value | $ 1,300 | $ 1,300 |
Atlantic Community Bankers Bank (ACBB) [Member | ||
Investment stock at a carrying value | $ 40 | $ 40 |
Loans And Credit Quality (Narra
Loans And Credit Quality (Narrative) (Details) | 3 Months Ended | ||
Mar. 31, 2021USD ($)loan | Mar. 31, 2020loan | Dec. 31, 2020USD ($) | |
Financing Receivable, Modifications [Line Items] | |||
Available commitments outstanding on TDRs | $ 0 | ||
Number of new TDRs | loan | 0 | 0 | |
Number of loans experiencing payment default | loan | 0 | 0 | |
CARES Act [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
PPP loan receivable amount for which SBA loan guarantee approval received | $ 47,700,000 | ||
PPP loans guarantee percent by the SBA | 100.00% | ||
Consumer [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Real estate foreclosed assets | $ 0 | $ 0 | |
Loans collateralized by residential real estate in process of foreclosure | $ 42,000 | $ 0 | |
Numbe of loans collateralized by residential real estate in process of foreclosure | loan | 1 |
Loans And Credit Quality (Compo
Loans And Credit Quality (Composition Of Loans Receivable) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 100.00% | 100.00% |
Total Loans | $ 1,098,613 | $ 1,089,618 |
Unearned origination fees | 178 | 291 |
Allowance for Loan Losses | (11,034) | (10,570) |
Net Loans | $ 1,087,757 | $ 1,079,339 |
Commercial real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 41.99% | 41.51% |
Total Loans | $ 461,331 | $ 452,251 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 4.06% | 4.42% |
Total Loans | $ 44,650 | $ 48,114 |
Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 52.97% | 52.90% |
Total Loans | $ 581,765 | $ 576,437 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 0.05% | 0.05% |
Total Loans | $ 603 | $ 640 |
Construction [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 0.93% | 1.12% |
Total Loans | $ 10,264 | $ 12,176 |
Loans And Credit Quality (Sched
Loans And Credit Quality (Schedule Of Loan Portfolio By Aggregate Risk Rating) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | $ 1,098,613 | $ 1,089,618 |
Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 1,095,385 | 1,086,782 |
Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 506 | 512 |
Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 2,722 | 2,324 |
Commercial real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 461,331 | 452,251 |
Commercial real estate [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 459,916 | 450,823 |
Commercial real estate [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 1,415 | 1,428 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 44,650 | 48,114 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 44,650 | 48,114 |
Residential real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 581,765 | 576,437 |
Residential real estate [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 580,267 | 575,344 |
Residential real estate [Member] | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 506 | 512 |
Residential real estate [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 992 | 581 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 603 | 640 |
Consumer [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 603 | 640 |
Construction [Member] | Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 10,264 | 12,176 |
Construction [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 9,949 | 11,861 |
Construction [Member] | Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | $ 315 | $ 315 |
Loans And Credit Quality (Sch_2
Loans And Credit Quality (Schedule Of Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With no related allowance recorded | $ 2,500 | ||
Recorded Investment, With an allowance recorded | 1,500 | ||
Total Recorded Investment | 4,020 | $ 3,640 | |
Total Unpaid Principal Balance | 4,330 | 3,950 | |
Related Allowance | 160 | 169 | |
Total Average Recorded Investment Impaired | 3,831 | $ 3,495 | |
Total Interest Income Recognized | 39 | 36 | |
Commercial real estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With no related allowance recorded | 840 | 851 | |
Recorded Investment, With an allowance recorded | 690 | 696 | |
Total Recorded Investment | 1,530 | 1,547 | |
Unpaid Principal Balance, With no related allowance recorded | 1,080 | 1,091 | |
Unpaid Principal Balance, With an allowance recorded | 690 | 696 | |
Total Unpaid Principal Balance | 1,770 | 1,787 | |
Related Allowance | 15 | 21 | |
Average Recorded Investment, With no related allowance recorded | 846 | 1,257 | |
Average Recorded Investment, With an allowance recorded | 693 | 350 | |
Total Average Recorded Investment Impaired | 1,539 | 1,607 | |
Interest Income Recognized, With no related allowance recorded | 15 | 13 | |
Interest Income Recognized, With an allowance recorded | 7 | 6 | |
Total Interest Income Recognized | 22 | 19 | |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With an allowance recorded | 228 | 230 | |
Total Recorded Investment | 228 | 230 | |
Unpaid Principal Balance, With an allowance recorded | 228 | 230 | |
Total Unpaid Principal Balance | 228 | 230 | |
Related Allowance | 22 | 23 | |
Average Recorded Investment, With an allowance recorded | 229 | 234 | |
Total Average Recorded Investment Impaired | 229 | 234 | |
Interest Income Recognized, With an allowance recorded | 2 | 2 | |
Total Interest Income Recognized | 2 | 2 | |
Residential real estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With no related allowance recorded | 1,351 | 944 | |
Recorded Investment, With an allowance recorded | 596 | 604 | |
Total Recorded Investment | 1,947 | 1,548 | |
Unpaid Principal Balance, With no related allowance recorded | 1,421 | 1,014 | |
Unpaid Principal Balance, With an allowance recorded | 596 | 604 | |
Total Unpaid Principal Balance | 2,017 | 1,618 | |
Related Allowance | 123 | 125 | |
Average Recorded Investment, With no related allowance recorded | 1,148 | 619 | |
Average Recorded Investment, With an allowance recorded | 600 | 720 | |
Total Average Recorded Investment Impaired | 1,748 | 1,339 | |
Interest Income Recognized, With no related allowance recorded | 7 | 7 | |
Interest Income Recognized, With an allowance recorded | 5 | 5 | |
Total Interest Income Recognized | 12 | 12 | |
Construction [Member] | Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With no related allowance recorded | 315 | 315 | |
Total Recorded Investment | 315 | 315 | |
Unpaid Principal Balance, With no related allowance recorded | 315 | 315 | |
Total Unpaid Principal Balance | 315 | $ 315 | |
Average Recorded Investment, With no related allowance recorded | 315 | 315 | |
Total Average Recorded Investment Impaired | 315 | 315 | |
Interest Income Recognized, With no related allowance recorded | 3 | 3 | |
Total Interest Income Recognized | $ 3 | $ 3 |
Loans And Credit Quality (Sch_3
Loans And Credit Quality (Schedule Of Nonaccrual Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | $ 692 | $ 274 |
Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-Accrual Loans | $ 692 | $ 274 |
Loans And Credit Quality (Sch_4
Loans And Credit Quality (Schedule Of Past Due Loans) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 487 | $ 894 |
Current | 1,098,126 | 1,088,724 |
Total Loan Receivables | 1,098,613 | 1,089,618 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 74 | 852 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 154 | |
Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 259 | 42 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 514 | |
Current | 461,331 | 451,737 |
Total Loan Receivables | 461,331 | 452,251 |
Commercial real estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 514 | |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 44,650 | 48,114 |
Total Loan Receivables | 44,650 | 48,114 |
Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 487 | 378 |
Current | 581,278 | 576,059 |
Total Loan Receivables | 581,765 | 576,437 |
Residential real estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 74 | 336 |
Residential real estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 154 | |
Residential real estate [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 259 | 42 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2 | |
Current | 603 | 638 |
Total Loan Receivables | 603 | 640 |
Consumer [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2 | |
Construction [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 10,264 | 12,176 |
Total Loan Receivables | $ 10,264 | $ 12,176 |
Loans And Credit Quality (Activ
Loans And Credit Quality (Activity In Allowance For Loan Losses) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | $ 10,570,000 | $ 8,022,000 |
Charge-offs | (2,000) | 0 |
Recoveries | 1,000 | 24,000 |
Provision for loan losses | 465,000 | 320,000 |
Ending balance | 11,034,000 | 8,366,000 |
Commercial real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 4,379,000 | 3,221,000 |
Recoveries | 24,000 | |
Provision for loan losses | 308,000 | 108,000 |
Ending balance | 4,687,000 | 3,353,000 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 848,000 | 770,000 |
Provision for loan losses | 68,000 | 47,000 |
Ending balance | 916,000 | 817,000 |
Commercial [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 150,000 | 121,000 |
Provision for loan losses | (37,000) | |
Ending balance | 113,000 | 121,000 |
Residential real estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 4,485,000 | 3,488,000 |
Recoveries | 1,000 | |
Provision for loan losses | 11,000 | 139,000 |
Ending balance | 4,497,000 | 3,627,000 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 14,000 | 19,000 |
Charge-offs | (2,000) | |
Provision for loan losses | (1,000) | |
Ending balance | 12,000 | 18,000 |
Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 694,000 | 403,000 |
Provision for loan losses | 115,000 | 27,000 |
Ending balance | $ 809,000 | $ 430,000 |
Loans And Credit Quality (Alloc
Loans And Credit Quality (Allocation Of Allowance For Loan Losses And Related Loan Portfolio) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | $ 11,034 | $ 10,570 | $ 8,366 | $ 8,022 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 160 | 169 | ||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 10,874 | 10,401 | ||
Total Loan Receivables | 1,098,613 | 1,089,618 | ||
Loans receivables, Ending balance: individually evaluated for impairment | 4,020 | 3,640 | ||
Loans receivables, Ending balance: collectively evaluated for impairment | 1,094,593 | 1,085,978 | ||
Commercial real estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | 4,687 | 4,379 | 3,353 | 3,221 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 15 | 21 | ||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 4,672 | 4,358 | ||
Total Loan Receivables | 461,331 | 452,251 | ||
Loans receivables, Ending balance: individually evaluated for impairment | 1,530 | 1,547 | ||
Loans receivables, Ending balance: collectively evaluated for impairment | 459,801 | 450,704 | ||
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | 916 | 848 | 817 | 770 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 22 | 23 | ||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 894 | 825 | ||
Total Loan Receivables | 44,650 | 48,114 | ||
Loans receivables, Ending balance: individually evaluated for impairment | 228 | 230 | ||
Loans receivables, Ending balance: collectively evaluated for impairment | 44,422 | 47,884 | ||
Commercial [Member] | Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | 113 | 150 | 121 | 121 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 113 | 150 | ||
Total Loan Receivables | 10,264 | 12,176 | ||
Loans receivables, Ending balance: individually evaluated for impairment | 315 | 315 | ||
Loans receivables, Ending balance: collectively evaluated for impairment | 9,949 | 11,861 | ||
Residential real estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | 4,497 | 4,485 | 3,627 | 3,488 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 123 | 125 | ||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 4,374 | 4,360 | ||
Total Loan Receivables | 581,765 | 576,437 | ||
Loans receivables, Ending balance: individually evaluated for impairment | 1,947 | 1,548 | ||
Loans receivables, Ending balance: collectively evaluated for impairment | 579,818 | 574,889 | ||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | 12 | 14 | 18 | 19 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 12 | 14 | ||
Total Loan Receivables | 603 | 640 | ||
Loans receivables, Ending balance: collectively evaluated for impairment | 603 | 640 | ||
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for Loan Losses, Ending Balance | 809 | 694 | $ 430 | $ 403 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | $ 809 | $ 694 |
Loans And Credit Quality (Troub
Loans And Credit Quality (Troubled Debt Restructuring Outstanding) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | $ 2,545 | $ 2,574 |
Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 2,531 | 2,559 |
Non-Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 14 | 15 |
Commercial real estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 1,113 | 1,125 |
Commercial real estate [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 1,113 | 1,125 |
Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 228 | 230 |
Commercial [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 228 | 230 |
Commercial [Member] | Construction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 260 | 260 |
Commercial [Member] | Construction [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 260 | 260 |
Residential real estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 944 | 959 |
Residential real estate [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 930 | 944 |
Residential real estate [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | $ 14 | $ 15 |
Deposits (Components Of Deposit
Deposits (Components Of Deposits) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Deposits [Abstract] | ||
Demand, non-interest bearing | $ 291,411 | $ 269,996 |
Demand, NOW and money market, interest bearing | 219,254 | 199,845 |
Savings | 591,176 | 546,784 |
Time, $250 and over | 78,267 | 85,272 |
Time, other | 125,500 | 130,482 |
Total Deposits | $ 1,305,608 | $ 1,232,379 |
Deposits (Scheduled Maturities
Deposits (Scheduled Maturities Of Time Deposits) (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Deposits [Abstract] | |
2021 (remainder of the year) | $ 111,820 |
2022 | 50,680 |
2023 | 33,776 |
2024 | 5,647 |
2025 | 1,258 |
2026 | 586 |
Total time deposits | $ 203,767 |
Short-Term And Long-Term Borr_3
Short-Term And Long-Term Borrowings (Narrative) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Line of Credit Facility [Line Items] | ||
Maximum borrowing capacity | $ 693,600,000 | |
Short-term advances with FHLB outstanding | 0 | $ 0 |
Long-term advances FHLB | 14,651,000 | 14,700,000 |
PPPLF borrowings | 50,794,000 | |
PPPLF Borrowings [Member] | ||
Line of Credit Facility [Line Items] | ||
PPPLF borrowings | $ 0 | $ 50,800,000 |
Interest rate | 0.35% | |
Maximum [Member] | ||
Line of Credit Facility [Line Items] | ||
Federal Home Loan Bank advance period | 60 months | |
Federal Home Loan Bank Advances [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit, maximum borrowing capacity | $ 150,000,000 | |
Atlantic Community Bankers Bank (ACBB) [Member | ||
Line of Credit Facility [Line Items] | ||
Line of credit, maximum borrowing capacity | 10,000,000 | $ 10,000,000 |
Line of credit outstanding | $ 0 | $ 0 |
Short-Term And Long-Term Borr_4
Short-Term And Long-Term Borrowings (Components Of Long-Term Borrowings With FHLB) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Total Outstanding Borrowings | $ 14,651 | $ 14,700 |
FHLB with 0.79% Interest Due in March 2022 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Total Outstanding Borrowings | $ 10,000 | |
Long-term FHLB borrowings, interest rate | 0.79% | |
FHLB with 0.64% Interest Due in March 2022 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Total Outstanding Borrowings | $ 2,663 | |
Long-term FHLB borrowings, interest rate | 0.64% | |
FHLB with 0.61% Interest Due in March 2022 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Total Outstanding Borrowings | $ 1,988 | |
Long-term FHLB borrowings, interest rate | 0.61% |
Stock Incentive Plan And Empl_2
Stock Incentive Plan And Employee Stock Purchase Plan (Narrative) (Details) - USD ($) | 3 Months Ended | 51 Months Ended | 126 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2021 | Jun. 30, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares of common stock issued for ESPP | 807 | 1,289 | |||
Stock Options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock options granted | 0 | 0 | |||
Unrecognized compensation cost | $ 0 | $ 0 | $ 0 | ||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Awards granted | 12,009 | 32,210 | 199,308 | ||
Restricted stock awards compensation expense | $ 246,000 | $ 192,000 | |||
Minimum [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Award vesting period | 3 years | ||||
Maximum [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Award vesting period | 9 years | ||||
2010 Stock Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Award vesting period | 10 years | ||||
Award expiration date | Jun. 20, 2029 | ||||
Shares available for issuance | 440,805 | 440,805 | 440,805 | ||
2010 Stock Incentive Plan [Member] | Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares authorized | 756,356 | ||||
Employee Stock Purchase Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares authorized | 350,000 | 350,000 | 350,000 | ||
Shares of common stock issued for ESPP | 16,068 | ||||
Minimum work hours per week | 20 hours | ||||
Minimum months to be eligible to participate | 5 months | ||||
Purchase price for share percentage equal to fair value of such shares | 95.00% | ||||
Maximum discount to fair value percentage | 15.00% | ||||
Employee stock purchase plan, discount expense | $ 1,000 |
Other Comprehensive Income (Com
Other Comprehensive Income (Components Of Other Comprehensive Income, Both Before Tax And Net Of Tax) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | ||
Other Comprehensive (Loss) Income [Abstract] | |||
Unrealized holding (losses) gains on securities available for sale, Before Tax | $ (2,546) | $ 1,803 | |
Unrealized holding (losses) gains on securities available for sale, Tax Effect | 535 | (378) | |
Unrealized holding (losses) gains on securities available for sale, Net of Tax | (2,011) | 1,425 | |
Reclassification adjustments for gains on securities transactions included in net income, Before Tax | [1],[2] | (24) | |
Reclassification adjustments for gains on securities transactions included in net income: Tax Effect | [1],[2] | 5 | |
Reclassification adjustments for gains on securities transactions included in net income: Net of Tax | [1],[2] | (19) | |
Total other comprehensive (loss) income, before tax | (2,570) | 1,803 | |
Total other comprehensive (loss) income, Tax Effect | 540 | (378) | |
Other comprehensive (loss) income, net of tax | $ (2,030) | $ 1,425 | |
[1] | Realized gains on securities transactions included in gain on sales of securities in the accompanying Consolidated Statements of Income. | ||
[2] | Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. |
Other Comprehensive Income (Sum
Other Comprehensive Income (Summary Of Realized Gains On Securities Available For Sale, Net Of Tax) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | ||
Other Comprehensive (Loss) Income [Abstract] | |||
Realized gains on securities transactions | [1],[2] | $ (24) | |
Income taxes | [1],[2] | 5 | |
Reclassification adjustments for gains on securities transactions included in net income: Net of Tax | [1],[2] | $ (19) | |
[1] | Realized gains on securities transactions included in gain on sales of securities in the accompanying Consolidated Statements of Income. | ||
[2] | Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. |
Other Comprehensive Income (S_2
Other Comprehensive Income (Summary Of Accumulated Other Comprehensive Income, Net Of Tax) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Other Comprehensive (Loss) Income [Abstract] | ||
Beginning Balance | $ 2,937 | $ 1,340 |
Other comprehensive income before reclassifications | (2,011) | 1,425 |
Amounts reclassified from accumulated other comprehensive income | (19) | |
Other comprehensive (loss) income, net of tax | (2,030) | 1,425 |
Ending Balance | $ 907 | $ 2,765 |
Basic And Diluted Earnings Pe_3
Basic And Diluted Earnings Per Share (Narrative) (Details) - shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Basic And Diluted Earnings Per Share [Abstract] | ||
Antidilutive securities excluded from computation of diluted earnings per share | 0 | 4,227 |
Basic And Diluted Earnings Pe_4
Basic And Diluted Earnings Per Share (Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Basic And Diluted Earnings Per Share [Abstract] | ||
Net income | $ 4,044 | $ 2,457 |
Weighted average shares outstanding | 7,532,246 | 7,443,875 |
Dilutive effect of potential common shares, stock options | 33,235 | 37,630 |
Diluted weighted average common shares outstanding | 7,565,481 | 7,481,505 |
Basic earnings per share | $ 0.54 | $ 0.33 |
Diluted earnings per share | $ 0.53 | $ 0.33 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value Measurements [Abstract] | ||
Impaired loans aggregate balance | $ 4,020,000 | $ 3,640,000 |
Impaired loans without related allowance | 2,500,000 | |
Impaired loans with related allowance | 1,500,000 | |
Related Allowance | 160,000 | 169,000 |
Real estate properties acquired through foreclosure | $ 0 | $ 0 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Of Financial Assets Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $ 164,084 | $ 130,940 |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 9,998 | |
U.S Government Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 33,327 | 39,036 |
Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 44,245 | 39,376 |
U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 527 | 543 |
U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 85,985 | 41,987 |
Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 164,084 | 130,940 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 9,998 | |
Fair Value, Recurring [Member] | U.S Government Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 33,327 | 39,036 |
Fair Value, Recurring [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 44,245 | 39,376 |
Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 527 | 543 |
Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 85,985 | 41,987 |
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Fair Value, Recurring [Member] | U.S Government Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Fair Value, Recurring [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 164,084 | 13,940 |
(Level 2) Significant Other Observable Inputs [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 164,084 | 130,940 |
(Level 2) Significant Other Observable Inputs [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 9,998 | |
(Level 2) Significant Other Observable Inputs [Member] | Fair Value, Recurring [Member] | U.S Government Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 33,327 | 39,036 |
(Level 2) Significant Other Observable Inputs [Member] | Fair Value, Recurring [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 44,245 | 39,376 |
(Level 2) Significant Other Observable Inputs [Member] | Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 527 | 543 |
(Level 2) Significant Other Observable Inputs [Member] | Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 85,985 | 41,987 |
(Level 3) Significant Unobservable Inputs [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 3) Significant Unobservable Inputs [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 3) Significant Unobservable Inputs [Member] | Fair Value, Recurring [Member] | U.S Government Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 3) Significant Unobservable Inputs [Member] | Fair Value, Recurring [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 3) Significant Unobservable Inputs [Member] | Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
(Level 3) Significant Unobservable Inputs [Member] | Fair Value, Recurring [Member] | U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities |
Fair Value Measurements (Fair_2
Fair Value Measurements (Fair Value Of Financial Assets Measured On Nonrecurring Basis) (Details) - Impaired Loans [Member] - Fair Value, Nonrecurring [Member] - FV determined through independent appraisals of the underlying collateral [Member] - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | $ 1,354 | $ 1,361 |
(Level 3) Significant Unobservable Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | $ 1,354 | $ 1,361 |
Fair Value Measurements (Quanti
Fair Value Measurements (Quantitative Information About Level 3 Fair Value Measurements) (Details) - Impaired Loans [Member] - Fair Value, Nonrecurring [Member] - (Level 3) Significant Unobservable Inputs [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | ||
Appraisal Adjustment [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets fair value | $ 1,354 | $ 1,361 | |
Appraisal Adjustment [Member] | Minimum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [1] | (25.00%) | (25.00%) |
Appraisal Adjustment [Member] | Maximum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [1] | 0.00% | 0.00% |
Appraisal Adjustment [Member] | Weighted Average [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [1] | (15.10%) | (15.10%) |
Liquidation Expenses [Member] | Minimum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [2] | (10.00%) | (10.00%) |
Liquidation Expenses [Member] | Maximum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [2] | 0.00% | 0.00% |
Liquidation Expenses [Member] | Weighted Average [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range (Weighted Average) | [2] | (8.50%) | (8.50%) |
[1] | Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal. The range and weighted average of appraisal adjustments are presented as a percent of the appraisal. | ||
[2] | Appraisals and pending agreements of sale are adjusted by management for liquidation expenses. The range and weighted average of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale. |
Fair Value Measurements (Estima
Fair Value Measurements (Estimated Fair Value Of Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | $ 164,084 | $ 130,940 |
Paycheck Protection Program loans receivable | 47,714 | 54,334 |
Paycheck Protection Program Liquidity Facility borrowings | 50,794 | |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 120,114 | 131,907 |
Securities available for sale | 164,084 | 130,940 |
Loans receivable, net of allowance | 1,087,756 | 1,079,339 |
Paycheck Protection Program loans receivable | 47,714 | 54,334 |
Restricted investments in bank stock | 1,330 | 1,330 |
Accrued interest receivable | 3,114 | 3,136 |
Deposits | 1,305,608 | 1,232,379 |
Securities sold under agreements to repurchase and federal funds purchased | 9,594 | 13,612 |
Long-term borrowings | 14,651 | 14,651 |
Paycheck Protection Program Liquidity Facility borrowings | 50,794 | |
Accrued interest payable | 1,069 | 1,640 |
Fair Value Estimate [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 120,114 | 131,907 |
Securities available for sale | 164,084 | 130,940 |
Loans receivable, net of allowance | 1,139,248 | 1,158,545 |
Paycheck Protection Program loans receivable | 47,938 | 54,632 |
Restricted investments in bank stock | 1,330 | 1,330 |
Accrued interest receivable | 3,114 | 3,136 |
Deposits | 1,308,187 | 1,235,483 |
Securities sold under agreements to repurchase and federal funds purchased | 9,594 | 13,612 |
Long-term borrowings | 14,694 | 14,707 |
Paycheck Protection Program Liquidity Facility borrowings | 50,810 | |
Accrued interest payable | 1,069 | 1,640 |
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 120,114 | 131,907 |
(Level 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | 164,084 | 13,940 |
Restricted investments in bank stock | 1,330 | 1,330 |
Accrued interest receivable | 3,114 | 3,136 |
Deposits | 1,308,187 | 1,235,483 |
Securities sold under agreements to repurchase and federal funds purchased | 9,594 | 13,612 |
Accrued interest payable | 1,069 | 1,640 |
(Level 3) Significant Unobservable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans receivable, net of allowance | 1,139,248 | 1,158,545 |
Paycheck Protection Program loans receivable | 47,938 | 54,632 |
Long-term borrowings | 14,694 | 14,707 |
Paycheck Protection Program Liquidity Facility borrowings | 50,810 | |
Commitments to grant loans [Member] | Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Commitments to grant loans [Member] | Fair Value Estimate [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Commitments to grant loans [Member] | (Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Commitments to grant loans [Member] | (Level 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Commitments to grant loans [Member] | (Level 3) Significant Unobservable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Unfunded commitments underlines of credit [Member] | Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Unfunded commitments underlines of credit [Member] | Fair Value Estimate [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Unfunded commitments underlines of credit [Member] | (Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Unfunded commitments underlines of credit [Member] | (Level 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Unfunded commitments underlines of credit [Member] | (Level 3) Significant Unobservable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Standby Letters of Credit [Member] | Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Standby Letters of Credit [Member] | Fair Value Estimate [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Standby Letters of Credit [Member] | (Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Standby Letters of Credit [Member] | (Level 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments | ||
Standby Letters of Credit [Member] | (Level 3) Significant Unobservable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Off-balance sheet financial instruments |