Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Nov. 04, 2022 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 | |
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 | 7,554,015 | |
Entity Central Index Key | 0001449794 | |
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks | $ 16,897 | $ 15,244 |
Interest bearing demand deposits with banks | 54,302 | 153,448 |
Federal funds sold | 1,000 | 1,000 |
Cash and Cash Equivalents | 72,199 | 169,692 |
Securities available for sale | 311,890 | 310,264 |
Restricted investment in bank stock | 995 | 1,424 |
Loans receivable, net of allowance for loan losses of $12,178 in 2022; $11,484 in 2021 | 1,169,816 | 1,096,555 |
Paycheck Protection Program loans receivable | 290 | 8,568 |
Premises and equipment, net of accumulated depreciation | 3,978 | 3,994 |
Bank owned life insurance | 25,426 | 25,796 |
Accrued interest receivable | 2,787 | 2,603 |
Other assets | 28,599 | 14,298 |
Total Assets | 1,615,980 | 1,633,194 |
Deposits: | ||
Non-interest bearing | 374,414 | 323,513 |
Interest bearing | 1,132,653 | 1,143,512 |
Total Deposits | 1,507,067 | 1,467,025 |
Securities sold under agreements to repurchase | 14,947 | 11,252 |
Long-term borrowings | 14,651 | |
Accrued interest payable | 517 | 652 |
Other liabilities | 17,494 | 17,099 |
Total Liabilities | 1,540,025 | 1,510,679 |
Stockholders' Equity: | ||
Common stock, $1 par value; authorized 20,000,000 shares; 2022 issued 7,701,041 shares; outstanding 7,554,015 shares; 2021 issued 7,687,919 shares; outstanding 7,541,776 shares; | 7,701 | 7,688 |
Surplus | 27,432 | 26,963 |
Retained earnings | 101,570 | 91,493 |
Accumulated other comprehensive loss | (58,295) | (1,194) |
Treasury stock, at cost: 147,026 and 146,143 shares at September 30, 2022 and December 31, 2021, respectively | (2,453) | (2,435) |
Total Stockholders' Equity | 75,955 | 122,515 |
Total Liabilities and Stockholders' Equity | $ 1,615,980 | $ 1,633,194 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Consolidated Balance Sheets [Abstract] | ||
Loans receivable, allowance | $ 12,178 | $ 11,484 |
Common Stock, Par Value | $ 1 | $ 1 |
Common Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Shares, Issued | 7,701,041 | 7,687,919 |
Common Stock, Shares, Outstanding | 7,554,015 | 7,541,776 |
Treasury Stock, Shares | 147,026 | 146,143 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
INTEREST INCOME | ||||
Loans, including fees | $ 10,723 | $ 10,264 | $ 30,667 | $ 30,600 |
Paycheck Protection Program loans, including fees | 2 | 867 | 183 | 2,425 |
Securities, taxable | 1,571 | 822 | 4,364 | 1,777 |
Securities, non-taxable | 307 | 270 | 891 | 714 |
Short-term investments, including federal funds sold | 398 | 41 | 679 | 101 |
Total Interest Income | 13,001 | 12,264 | 36,784 | 35,617 |
INTEREST EXPENSE | ||||
Deposits | 905 | 908 | 2,666 | 2,995 |
Securities sold under agreements to repurchase and federal funds purchased | 5 | 2 | 9 | 6 |
Long-term borrowings | 28 | 19 | 82 | |
Paycheck Protection Program Liquidity Facility borrowings | 15 | |||
Total Interest Expense | 910 | 938 | 2,694 | 3,098 |
Net Interest Income | 12,091 | 11,326 | 34,090 | 32,519 |
PROVISION FOR LOAN LOSSES | 275 | 150 | 625 | 740 |
Net Interest Income after Provision for Loan Losses | 11,816 | 11,176 | 33,465 | 31,779 |
OTHER NON-INTEREST INCOME | ||||
Merchant and credit card processing fees | 88 | 84 | 267 | 234 |
Debit card interchange fees | 221 | 222 | 654 | 635 |
Other service fees | 157 | 126 | 411 | 349 |
Bank owned life insurance | 117 | 76 | 347 | 419 |
Gain on sale of securities | 24 | |||
Total Other Non-Interest Income | 583 | 508 | 1,679 | 1,661 |
OTHER NON-INTEREST EXPENSES | ||||
Salaries and employee benefits | 3,376 | 3,042 | 9,961 | 8,880 |
Occupancy and equipment | 930 | 911 | 2,819 | 2,730 |
Data processing | 828 | 773 | 2,566 | 2,171 |
Advertising and promotion | 243 | 284 | 594 | 715 |
Professional fees | 250 | 191 | 690 | 628 |
FDIC insurance | 116 | 147 | 347 | 410 |
Loan & real estate | 46 | 58 | 166 | 230 |
Charitable contributions | 209 | 279 | 724 | 670 |
Other | 494 | 466 | 1,489 | 1,352 |
Total Other Non-Interest Expenses | 6,492 | 6,151 | 19,356 | 17,786 |
Income Before Income Taxes | 5,907 | 5,533 | 15,788 | 15,654 |
INCOME TAX EXPENSE | 1,158 | 1,093 | 3,067 | 3,063 |
Net Income | $ 4,749 | $ 4,440 | $ 12,721 | $ 12,591 |
BASIC EARNINGS PER SHARE | $ 0.63 | $ 0.59 | $ 1.68 | $ 1.67 |
DILUTED EARNINGS PER SHARE | $ 0.63 | $ 0.59 | 1.68 | 1.67 |
DIVIDENDS PER SHARE | $ 0.35 | $ 0.30 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Consolidated Statements Of Comprehensive (Loss) Income [Abstract] | |||||
Net Income | $ 4,749 | $ 4,440 | $ 12,721 | $ 12,591 | |
Change in Accumulated Other Comprehensive Loss: | |||||
Unrealized holding loss on securities available for sale | (19,911) | (1,404) | (72,280) | (3,817) | |
Less: reclassification adjustment for realized gains | [1],[2] | (24) | |||
Total other comprehensive loss | (19,911) | (1,404) | (72,280) | (3,841) | |
Income tax effect | 4,181 | 295 | 15,179 | 807 | |
Net unrealized loss | (15,730) | (1,109) | (57,101) | (3,034) | |
Total other comprehensive loss, net of tax | (15,730) | (1,109) | (57,101) | (3,034) | |
Comprehensive (Loss) Income | $ (10,981) | $ 3,331 | $ (44,380) | $ 9,557 | |
[1] Realized gains on securities transactions included in gain on sales of securities in the accompanying Consolidated Statements of Income. 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] | Surplus [Member] Director [Member] | Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Director [Member] | Total |
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 | |||
BALANCE-Beginning at Dec. 31, 2020 | 7,637 | 26,405 | 76,960 | 2,937 | (1,765) | 112,174 | |||
Net income | 12,591 | ||||||||
Other comprehensive income loss, net of tax | (3,034) | ||||||||
BALANCE-Ending at Sep. 30, 2021 | 7,652 | 26,802 | 87,298 | (97) | (2,365) | 119,290 | |||
BALANCE-Beginning at Mar. 31, 2021 | 7,650 | 26,651 | 81,004 | 907 | (2,181) | 114,031 | |||
Net income | 4,107 | 4,107 | |||||||
Other comprehensive income loss, net of tax | 105 | 105 | |||||||
Dividend declared | (2,253) | (2,253) | |||||||
Compensation expense recognized on stock grants, net of unearned compensation expense | 61 | 61 | |||||||
Shares issued under employee stock purchase plan | 1 | 13 | 14 | ||||||
Purchase of treasury stock | (184) | (184) | |||||||
BALANCE-Ending at Jun. 30, 2021 | 7,651 | 26,725 | 82,858 | 1,012 | (2,365) | 115,881 | |||
Net income | 4,440 | 4,440 | |||||||
Other comprehensive income loss, net of tax | (1,109) | (1,109) | |||||||
Compensation expense recognized on stock grants, net of unearned compensation expense | 61 | 61 | |||||||
Shares issued under employee stock purchase plan | 1 | 16 | 17 | ||||||
BALANCE-Ending at Sep. 30, 2021 | 7,652 | 26,802 | 87,298 | (97) | (2,365) | 119,290 | |||
BALANCE-Beginning at Dec. 31, 2021 | 7,688 | 26,963 | 91,493 | (1,194) | (2,435) | 122,515 | |||
Net income | 4,201 | 4,201 | |||||||
Other comprehensive income loss, net of tax | (24,055) | (24,055) | |||||||
Common stock grants | $ 10 | $ 213 | $ 223 | ||||||
Compensation expense recognized on stock grants, net of unearned compensation expense | 69 | 69 | |||||||
Shares issued under employee stock purchase plan | 1 | 14 | 15 | ||||||
Purchase of treasury stock | (18) | (18) | |||||||
BALANCE-Ending at Mar. 31, 2022 | 7,699 | 27,259 | 95,694 | (25,249) | (2,453) | 102,950 | |||
BALANCE-Beginning at Dec. 31, 2021 | 7,688 | 26,963 | 91,493 | (1,194) | (2,435) | 122,515 | |||
Net income | 12,721 | ||||||||
Other comprehensive income loss, net of tax | (57,101) | ||||||||
BALANCE-Ending at Sep. 30, 2022 | 7,701 | 27,432 | 101,570 | (58,295) | (2,453) | 75,955 | |||
BALANCE-Beginning at Mar. 31, 2022 | 7,699 | 27,259 | 95,694 | (25,249) | (2,453) | 102,950 | |||
Net income | 3,771 | 3,771 | |||||||
Other comprehensive income loss, net of tax | (17,316) | (17,316) | |||||||
Dividend declared | (2,644) | (2,644) | |||||||
Compensation expense recognized on stock grants, net of unearned compensation expense | 70 | 70 | |||||||
Shares issued under employee stock purchase plan | 1 | 17 | 18 | ||||||
BALANCE-Ending at Jun. 30, 2022 | 7,700 | 27,346 | 96,821 | (42,565) | (2,453) | 86,849 | |||
Net income | 4,749 | 4,749 | |||||||
Other comprehensive income loss, net of tax | (15,730) | (15,730) | |||||||
Compensation expense recognized on stock grants, net of unearned compensation expense | 71 | 71 | |||||||
Shares issued under employee stock purchase plan | 1 | 15 | 16 | ||||||
BALANCE-Ending at Sep. 30, 2022 | $ 7,701 | $ 27,432 | $ 101,570 | $ (58,295) | $ (2,453) | $ 75,955 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 75 Months Ended | |||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | |
Dividend declared per share | $ 0.35 | $ 0.30 | |||||
Unearned compensation expense on stock grants | $ 509 | $ 579 | $ 649 | $ 576 | $ 637 | $ 698 | $ 509 |
Shares issued under employee stock purchase plan, shares | 757 | 958 | 706 | 870 | 713 | 807 | |
Purchase treasury stock, shares | 883 | 9,400 | 25,000 | ||||
Purchased treasury stock, price per share | $ 20.79 | $ 19.60 | $ 16.65 | ||||
Director [Member] | |||||||
Common stock grants, shares | 10,701 | 12,009 | |||||
Employee Stock Purchase Plan [Member] | |||||||
Shares issued under employee stock purchase plan, shares | 20,936 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 12,721,000 | $ 12,591,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 625,000 | 740,000 |
Amortization of deferred loan costs | 141,000 | 111,000 |
Accretion of deferred Paycheck Protection Program loan fees | (165,000) | (2,097,000) |
Depreciation | 666,000 | 620,000 |
Net (accretion) amortization of investment security premiums and discounts | (285,000) | 126,000 |
Stock compensation expense | 433,000 | 368,000 |
Income on bank owned life insurance | (347,000) | (419,000) |
Realized gain on sale of securities available for sale | (24,000) | |
(Increase) decrease in accrued interest receivable | (184,000) | 384,000 |
Decrease in other assets | 896,000 | 230,000 |
Decrease in accrued interest payable | (135,000) | (975,000) |
Increase in other liabilities | 395,000 | 26,000 |
Net Cash Provided by Operating Activities | 14,761,000 | 11,681,000 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of securities available for sale | (93,347,000) | (179,901,000) |
Maturities, calls and principal repayments of securities available for sale | 19,726,000 | 39,366,000 |
Proceeds from sales of securities available for sale | 3,333,000 | |
Net increase in loans | (74,027,000) | (28,508,000) |
Net decrease in Paycheck Protection Program loans | 8,443,000 | 40,217,000 |
Net redemption (purchase) of restricted investment in bank stock | 429,000 | (94,000) |
Purchases of premises and equipment | (668,000) | (1,161,000) |
Death benefit proceeds on bank owned life insurance | 717,000 | |
Net Cash Used in Investing Activities | (138,727,000) | (126,748,000) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 40,042,000 | 168,311,000 |
Net increase (decrease) in securities sold under agreements to repurchase | 3,695,000 | (823,000) |
Proceeds from Employee Stock Purchase Plan | 49,000 | 44,000 |
Repayments of long-term borrowed funds | (14,651,000) | |
Repayment of Paycheck Protection Program Liquidity Facility borrowed funds | (50,794,000) | |
Purchase of treasury stock | (18,000) | (600,000) |
Dividends paid | (2,644,000) | (2,253,000) |
Net Cash Provided by Financing Activities | 26,473,000 | 113,885,000 |
Net Decrease in Cash and Cash Equivalents | (97,493,000) | (1,182,000) |
CASH AND CASH EQUIVALENTS - BEGINNING | 169,692,000 | 131,907,000 |
CASH AND CASH EQUIVALENTS - ENDING | 72,199,000 | 130,725,000 |
SUPPLEMENTARY CASH FLOWS INFORMATION | ||
Interest paid | 2,829,000 | 4,073,000 |
Income taxes paid | $ 2,962,000 | 3,329,000 |
Non-cash Investing and Financing Activities: | ||
Right of use assets obtained in exchange for new operating lease liabilities | $ 1,229,000 |
Basis Of Presentation
Basis Of Presentation | 9 Months Ended |
Sep. 30, 2022 | |
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 and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. 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, 2021, included in the Company’s Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 18, 2022. 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 2021 consolidated financial statements may have been reclassified to conform to 2022 presentation. These reclassifications had no effect on 2021 net income. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
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, 2021. |
Securities Available For Sale
Securities Available For Sale | 9 Months Ended |
Sep. 30, 2022 | |
Securities Available For Sale [Abstract] | |
Securities Available For Sale | Note 3 – Securities Available For Sale At September 30, 2022 and December 31, 2021, 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) September 30, 2022: U.S. Treasury securities $ 17,174 $ - $ ( 504 ) $ 16,670 U.S. Government agency obligations 34,064 - ( 1,739 ) 32,325 Municipal bonds 73,980 23 ( 18,137 ) 55,866 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial 510 - ( 84 ) 426 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 259,953 1 ( 53,351 ) 206,603 Total $ 385,681 $ 24 $ ( 73,815 ) $ 311,890 December 31, 2021: U.S. Government agency obligations 29,146 - ( 288 ) 28,858 Municipal bonds 60,017 1,464 ( 377 ) 61,104 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial 511 19 - 530 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 222,101 885 ( 3,214 ) 219,772 Total $ 311,775 $ 2,368 $ ( 3,879 ) $ 310,264 The amortized cost and fair value of securities as of September 30, 2022, 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 $ 2,734 $ 2,718 Due after one year through five years 49,779 47,497 Due after five years through ten years 5,818 5,298 Due after ten years 66,887 49,348 125,218 104,861 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial 510 426 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 259,953 206,603 Total $ 385,681 $ 311,890 There were no sales of securities for the three months ended September 30, 2022 and 2021. There were no sales of securities for the nine months ended September 30, 2022 and gross gains of $ 24 thousand were realized on sales of securities for the nine months ended September 30, 2021. There were no gross losses on the sales of securities for the nine months ended September 30, 2021. Securities with a carrying value of $ 129.5 million and $ 114.0 million at September 30, 2022 and December 31, 2021, 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 September 30, 2022 and December 31, 2021: Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses September 30, 2022: (In Thousands) U.S. Treasury securities $ 16,670 $ ( 504 ) $ - $ - $ 16,670 $ ( 504 ) U.S. Government agency obligations 4,618 ( 309 ) 27,707 ( 1,430 ) 32,325 ( 1,739 ) Municipal bonds 41,312 ( 11,825 ) 12,224 ( 6,312 ) 53,536 ( 18,137 ) U.S. Government Sponsored Enterprise (GSE) - Mortgage -backed securities - commercial 426 ( 84 ) - - 426 ( 84 ) U.S. Government Sponsored Enterprise (GSE) - Mortgage -backed securities - residential 97,642 ( 21,125 ) 108,844 ( 32,226 ) 206,486 ( 53,351 ) Total Temporarily Impaired Securities $ 160,668 $ ( 33,847 ) $ 148,775 $ ( 39,968 ) $ 309,443 $ ( 73,815 ) . December 31, 2021: U.S. Government agency obligations $ 9,911 $ ( 84 ) $ 18,947 $ ( 204 ) $ 28,858 $ ( 288 ) Municipal bonds 20,722 ( 377 ) - - 20,722 ( 377 ) U.S. Government Sponsored Enterprise (GSE) - Mortgage -backed securities - residential 190,435 ( 3,214 ) - - 190,435 ( 3,214 ) Total Temporarily Impaired Securities $ 221,068 $ ( 3,675 ) $ 18,947 $ ( 204 ) $ 240,015 $ ( 3,879 ) The Company had two hundred two ( 202 ) securities in an unrealized loss position at September 30, 2022 and seventy ( 70 ) securities in an unrealized loss position at December 31, 2021. As of September 30, 2022, 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, and are a result of the increasing market interest rates in 2022 due to the current economic conditions, and not the credit quality of the issuer. |
Restricted Investment In Bank S
Restricted Investment In Bank Stock | 9 Months Ended |
Sep. 30, 2022 | |
Restricted Investment In Bank Stock [Abstract] | |
Restricted Investment In Bank Stock | Note 4 – 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 $ 955 thousand as of September 30, 2022 and $ 1.4 million at December 31, 2021, respectively. The Bank had ACBB stock at a carrying value of $ 40 thousand at September 30, 2022 and December 31, 2021. 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 September 30, 2022. |
Loans and Credit Quality
Loans and Credit Quality | 9 Months Ended |
Sep. 30, 2022 | |
Loans And Credit Quality [Abstract] | |
Loans And Credit Quality | Note 5 – Loans and Credit Quality The Company has presented Paycheck Protection Program (“PPP”) loans of $ 290 thousand at September 30, 2022 and $ 8.6 million, net of $ 165 thousand of unearned origination fees and costs, at December 31, 2021, respectively, separately from loans receivable on the Consolidated Balance Sheets. 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. The Company has only three ( 3 ) PPP loans remaining at September 30, 2022. PPP loans are excluded in the following composition and credit quality tables. The following table presents the composition of loans receivable at September 30, 2022 and December 31, 2021, respectively: September 30, 2022 December 31, 2021 Percentage of Percentage of Balance total Loans Balance total Loans (Dollars in Thousands) Commercial real estate $ 488,065 41.30 % $ 440,655 39.77 % Commercial construction 11,520 0.97 % 6,100 0.55 % Commercial 41,130 3.48 % 41,923 3.78 % Residential real estate 640,420 54.19 % 618,694 55.84 % Consumer 648 0.06 % 642 0.06 % Total loans 1,181,783 100.00 % 1,108,014 100.00 % Unearned origination fees 211 25 Allowance for loan losses ( 12,178 ) ( 11,484 ) Net Loans $ 1,169,816 $ 1,096,555 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 September 30, 2022 and December 31, 2021, respectively: Pass Special Mention Substandard Doubtful Total September 30, 2022 (In Thousands) Commercial real estate $ 486,732 $ - $ 1,333 $ - $ 488,065 Commercial construction 11,215 - 305 - 11,520 Commercial 41,107 23 - - 41,130 Residential real estate 639,536 473 411 - 640,420 Consumer 648 - - - 648 Total $ 1,179,238 $ 496 $ 2,049 $ - $ 1,181,783 December 31, 2021 Commercial real estate $ 439,280 $ - $ 1,375 $ - $ 440,655 Commercial construction 5,789 - 311 - 6,100 Commercial 41,899 24 - - 41,923 Residential real estate 617,533 489 672 - 618,694 Consumer 642 - - - 642 Total $ 1,105,143 $ 513 $ 2,358 $ - $ 1,108,014 At September 30, 2022, the Company had no foreclosed assets or recorded investment in consumer mortgage loans collateralized by real estate property in the process of foreclosure. At December 31, 2021, the Company had no foreclosed assets and had $ 217 thousand in recorded investment in one (1) consumer mortgage loan collateralized by real estate property that was in the process of foreclosure. In April 2022, the borrower repaid the loan in full with no loss to the Company. The following table summarizes information in regards to impaired loans by loan portfolio class as of September 30, 2022 and December 31, 2021, respectively: September 30, 2022 December 31, 2021 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance (In Thousands) With no related allowance recorded: Commercial real estate $ 1,389 $ 1,629 $ 1,433 $ 1,673 Commercial construction 55 55 55 55 Commercial - - - - Residential real estate 589 593 932 1,002 Consumer - - - - With an allowance recorded: Commercial real estate $ - $ - $ - $ - $ - $ - Commercial construction 250 250 2 256 256 7 Commercial 242 242 35 248 248 41 Residential real estate 556 556 110 576 576 116 Consumer - - - - - - Total: Commercial real estate $ 1,389 $ 1,629 $ - $ 1,433 $ 1,673 $ - Commercial construction 305 305 2 311 311 7 Commercial 242 242 3OH5 248 248 41 Residential real estate 1,145 1,149 110 1,508 1,578 116 Consumer - - - - - - $ 3,081 $ 3,325 $ 147 $ 3,500 $ 3,810 $ 164 The following tables summarize information regarding the average recorded investment and interest income recognized on impaired loans by loan portfolio for the three and nine months ended September 30, 2022 and 2021, respectively: Three Months Ended September 30, 2022 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In Thousands) With no related allowance recorded: Commercial real estate $ 1,396 $ 17 $ 825 $ 12 Commercial construction 55 1 313 3 Commercial - - - - Residential real estate 602 4 1,425 8 Consumer - - - - With an allowance recorded: Commercial real estate $ - $ - $ 681 $ 5 Commercial construction 251 2 - - Commercial 244 2 226 2 Residential real estate 560 5 586 5 Consumer - - - - Total: Commercial real estate $ 1,396 $ 17 $ 1,506 $ 17 Commercial construction 306 3 313 3 Commercial 244 2 226 2 Residential real estate 1,162 9 2,011 13 Consumer - - - - $ 3,108 $ 31 $ 4,056 $ 35 Nine Months Ended September 30, 2022 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In Thousands) With no related allowance recorded: Commercial real estate $ 1,411 $ 50 $ 835 $ 36 Commercial construction 55 2 314 8 Commercial - - - - Residential real estate 760 17 1,286 32 Consumer - - - - With an allowance recorded: Commercial real estate $ - $ - $ 687 $ 15 Commercial construction 253 6 - - Commercial 245 7 228 7 Residential real estate 566 15 593 16 Consumer - - - - Total: Commercial real estate $ 1,411 $ 50 $ 1,522 $ 51 Commercial construction 308 8 314 8 Commercial 245 7 228 7 Residential real estate 1,326 32 1,879 48 Consumer - - - - $ 3,290 $ 97 $ 3,943 $ 114 The following table presents non-accrual loans by classes of the loan portfolio: September 30, 2022 December 31, 2021 (In Thousands) Commercial real estate $ - $ - Commercial construction - - Commercial - - Residential real estate - 242 Consumer - - Total $ - $ 242 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 September 30, 2022 and December 31, 2021, 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 September 30, 2022 (In Thousands) Commercial real estate $ 334 $ - $ - $ 334 $ 487,731 $ 488,065 $ - Commercial construction - - - - 11,520 11,520 - Commercial - - - - 41,130 41,130 - Residential real estate 757 - - 757 639,663 640,420 - Consumer - - - - 648 648 - Total $ 1,091 $ - $ - $ 1,091 $ 1,180,692 $ 1,181,783 $ - December 31, 2021 Commercial real estate $ - $ - $ - $ - $ 440,655 $ 440,655 $ - Commercial construction - - - - 6,100 6,100 - Commercial - - - - 41,923 41,923 - Residential real estate - 12 217 229 618,465 618,694 - Consumer - - - - 642 642 - Total $ - $ 12 $ 217 $ 229 $ 1,107,785 $ 1,108,014 $ - The following tables detail the activity in the allowance for loan losses for the three and nine months ended September 30, 2022 and 2021: Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total Allowance for loan losses (In Thousands) Three Months Ending September 30, 2022 Beginning Balance - June 30, 2022 $ 4,815 $ 106 $ 1,272 $ 4,873 $ 13 $ 757 $ 11,836 Charge-offs - - - - - - - Recoveries - - - 67 - - 67 Provisions 169 13 23 ( 6 ) 1 75 275 Ending Balance - September 30, 2022 $ 4,984 $ 119 $ 1,295 $ 4,934 $ 14 $ 832 $ 12,178 Nine Months Ending September 30, 2022 Beginning Balance - December 31, 2021 $ 4,400 $ 71 $ 1,328 $ 4,718 $ 14 $ 953 $ 11,484 Charge-offs - - - - - - - Recoveries - - - 69 - - 69 Provisions 584 48 ( 33 ) 147 - ( 121 ) 625 Ending Balance - September 30, 2022 $ 4,984 $ 119 $ 1,295 $ 4,934 $ 14 $ 832 $ 12,178 Three Months Ending September 30, 2021 Beginning Balance - June 30, 2021 $ 4,542 $ 116 $ 1,345 $ 4,587 $ 25 $ 545 $ 11,160 Charge-offs - - - ( 2 ) - - ( 2 ) Recoveries - - - - - - - Provisions ( 50 ) ( 29 ) ( 57 ) 88 - 198 150 Ending Balance - September 30, 2021 $ 4,492 $ 87 $ 1,288 $ 4,673 $ 25 $ 743 $ 11,308 Nine Months Ending September 30, 2021 Beginning Balance - December 31, 2020 $ 4,379 $ 150 $ 848 $ 4,485 $ 14 $ 694 $ 10,570 Charge-offs - - - ( 2 ) ( 2 ) - ( 4 ) Recoveries - - - 2 - - 2 Provisions 113 ( 63 ) 440 188 13 49 740 Ending Balance - September 30, 2021 $ 4,492 $ 87 $ 1,288 $ 4,673 $ 25 $ 743 $ 11,308 The following tables represent the allocation for loan losses and the related loan portfolio disaggregated based on impairment methodology at September 30, 2022 and December 31, 2021: Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total (In Thousands) September 30, 2022 Allowance for Loan Losses Ending Balance $ 4,984 $ 119 $ 1,295 $ 4,934 $ 14 $ 832 $ 12,178 Ending balance: individually evaluated for impairment $ - $ 2 $ 35 $ 110 $ - $ - $ 147 Ending balance: collectively evaluated for impairment $ 4,984 $ 117 $ 1,260 $ 4,824 $ 14 $ 832 $ 12,031 Loans receivables: Ending balance $ 488,065 $ 11,520 $ 41,130 $ 640,420 $ 648 $ 1,181,783 Ending balance: individually evaluated for impairment $ 1,389 $ 305 $ 242 $ 1,145 $ - $ 3,081 Ending balance: collectively evaluated for impairment $ 486,676 $ 11,215 $ 40,888 $ 639,275 $ 648 $ 1,178,702 December 31, 2021 Allowance for Loan Losses Ending Balance $ 4,400 $ 71 $ 1,328 $ 4,718 $ 14 $ 953 $ 11,484 Ending balance: individually evaluated for impairment $ - $ 7 $ 41 $ 116 $ - $ - $ 164 Ending balance: collectively evaluated for impairment $ 4,400 $ 64 $ 1,287 $ 4,602 $ 14 $ 953 $ 11,320 Loans receivables: Ending balance $ 440,655 $ 6,100 $ 41,923 $ 618,694 $ 642 $ 1,108,014 Ending balance: individually evaluated for impairment $ 1,433 $ 311 $ 248 $ 1,508 $ - $ 3,500 Ending balance: collectively evaluated for impairment $ 439,222 $ 5,789 $ 41,675 $ 617,186 $ 642 $ 1,104,514 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. 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 TDRs outstanding: Accrual Loans Non-Accrual Loans Total Modifications September 30, 2022 (In Thousands) Commercial real estate $ 998 $ - $ 998 Commercial construction 250 - 250 Commercial 242 - 242 Residential real estate 718 - 718 Consumer - - - $ 2,208 $ - $ 2,208 December 31, 2021 Commercial real estate $ 1,027 $ - $ 1,027 Commercial construction 256 - 256 Commercial 248 - 248 Residential real estate 806 13 819 Consumer - - - $ 2,337 $ 13 $ 2,350 As of September 30, 2022, no available commitments were outstanding on TDRs. There were no newly restructured loans that occurred during the three and nine months ended September 30, 2022 and 2021. 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 and nine months ended September 30, 2022 and 2021. Beginning in 2020 and through early 2021, the Company provided certain borrowers affected in a variety of ways by COVID-19 with payment accommodations that facilitated their ability to work through the immediate impact of the virus. Payment accommodations related to COVID-19 assistance were in the form of short-term (six months or less) principal and/or interest deferrals and the loans were considered current at the time of the accommodation. These payment accommodations were made 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 and the Company did not categorize these modifications as troubled debt restructurings. As of September 30, 2022, the Company had one hundred seventy-two ( 172 ) loans totaling $ 104.3 million, for which the payment accommodation period had ended and the loans had resumed payments under their original contractual terms. As of December 31, 2021, the Company had one hundred ninety-nine ( 199 ) loans totaling $ 116.4 million, for which the payment accommodation period had ended and the loans had resumed payments under their original contractual terms. |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2022 | |
Deposits [Abstract] | |
Deposits | Note 6 – Deposits The components of deposits at September 30, 2022 and December 31, 2021 are as follows: September 30, 2022 December 31, 2021 (In Thousands) Demand, non-interest bearing $ 374,414 $ 323,513 Demand, NOW and money market, interest bearing 248,004 248,401 Savings 753,444 739,637 Time, $250 and over 44,699 54,739 Time, other 86,506 100,735 Total deposits $ 1,507,067 $ 1,467,025 At September 30, 2022, the scheduled maturities of time deposits are as follows (in thousands): 2022 (remainder of the year) $ 26,952 2023 83,754 2024 14,261 2025 2,952 2026 2,278 2027 1,008 $ 131,205 |
Short-Term and Long-Term Borrow
Short-Term and Long-Term Borrowings | 9 Months Ended |
Sep. 30, 2022 | |
Short-Term And Long-Term Borrowings [Abstract] | |
Short-Term And Long-Term Borrowings | Note 7 – 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 September 30, 2022, the Bank had a maximum borrowing capacity for short-term and long-term advances of approximately $ 742.7 million, of which $742.6 million is available for borrowing at September 30, 2022 due to an outstanding letter of credit in amount of $ 90 thousand. 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 September 30, 2022 and December 31, 2021. There were no long-term advances outstanding as of September 30, 2022 and $ 14.7 million in long-term FHLB advances outstanding as of December 31, 2021. All FHLB borrowings are secured by qualifying assets of the Bank. The Bank has a federal funds line of credit with the ACBB of $ 10.0 million, of which none was outstanding at September 30, 2022 and December 31, 2021. Advances from this line are unsecured. The Company has a revolving line of credit facility with the ACBB of $ 5.0 million, of which none was outstanding at September 30, 2022 and December 31, 2021. Advances from this line are unsecured. Subsequent to September 30, 2022, in October 2022, this facility was extended for an additional year and increased to $7.5 million of availability. |
Stock Incentive Plan And Employ
Stock Incentive Plan And Employee Stock Purchase Plan | 9 Months Ended |
Sep. 30, 2022 | |
Stock Incentive Plan And Employee Stock Purchase Plan [Abstract] | |
Stock Incentive Plan And Employee Stock Purchase Plan | Note 8 – 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 September 30, 2022, there were 419,806 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 two 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 September 30, 2022, there have been 220,307 awards granted. There were no awards granted during the three months ended September 30, 2022 and 2021. During the nine months ended September 30, 2022 and 2021, there were 10,701 and 12,009 awards granted, respectively. During the three and nine months ended September 30, 2022, the Company recognized compensation expense for restricted stock awards of $ 71 thousand and $ 433 thousand, respectively. During the three and nine months ended September 30, 2021, the Company recognized $ 61 thousand and $ 368 thousand in compensation expense for 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 and nine months ended September 30, 2022 and 2021, respectively. At September 30, 2022, 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 is 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 20,936 shares have been issued as of September 30, 2022. The Company recognized discount expense in relation to the ESPP of $ 1 thousand and $ 2 thousand for the three and nine months ended September 30, 2022 and 2021, respectively. |
Other Comprehensive Loss
Other Comprehensive Loss | 9 Months Ended |
Sep. 30, 2022 | |
Other Comprehensive Loss[Abstract] | |
Other Comprehensive Loss | Note 9 – Other Comprehensive Loss 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 (loss) income. Management believes that the unrealized losses on securities available for sale are primarily a result of the increasing market interest rates and the overall current market conditions. The components of other comprehensive loss both before tax and net of tax are as follows: Three Months Ended September 30, 2022 2021 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive loss: Unrealized holding losses on securities available for sale $ ( 19,911 ) $ 4,181 $ ( 15,730 ) $ ( 1,404 ) $ 295 $ ( 1,109 ) Reclassification adjustments for gains on securities transactions included in net income (A),(B) - - - - - - Total other comprehensive loss $ ( 19,911 ) $ 4,181 $ ( 15,730 ) $ ( 1,404 ) $ 295 $ ( 1,109 ) Nine Months Ended September 30, 2022 2021 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive loss: Unrealized holding losses on securities available for sale $ ( 72,280 ) $ 15,179 $ ( 57,101 ) $ ( 3,817 ) $ 802 $ ( 3,015 ) Reclassification adjustments for gains on securities transactions included in net income (A),(B) - - - ( 24 ) 5 ( 19 ) Total other comprehensive loss $ ( 72,280 ) $ 15,179 $ ( 57,101 ) $ ( 3,841 ) $ 807 $ ( 3,034 ) 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. There were no realized gains on securities available for sale for the three months ended September 30, 2022 and 2021. A summary of the realized gains on securities available for sale for the nine months ended September 30, 2022 and 2021, net of tax, is as follows: Nine Months Ended September 30, 2022 2021 (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 loss net of tax, is as follows: Securities Available for Sale Three Months Ended September 30, 2022 and 2021 (In Thousands) Balance June 30, 2022 $ ( 42,565 ) Other comprehensive loss before reclassifications ( 15,730 ) Amounts reclassified from accumulated other comprehensive loss - Net other comprehensive loss during the period ( 15,730 ) Balance September 30, 2022 $ ( 58,295 ) Balance June 30, 2021 $ 1,012 Other comprehensive loss before reclassifications ( 1,109 ) Amounts reclassified from accumulated other comprehensive income - Net other comprehensive loss during the period ( 1,109 ) Balance September 30, 2021 $ ( 97 ) Nine Months Ended September 30, 2022 and 2021 Balance January 1, 2022 $ ( 1,194 ) Other comprehensive loss before reclassifications ( 57,101 ) Amounts reclassified from accumulated other comprehensive loss - Net other comprehensive loss during the period ( 57,101 ) Balance September 30, 2022 $ ( 58,295 ) Balance January 1, 2021 $ 2,937 Other comprehensive loss before reclassifications ( 3,015 ) Amounts reclassified from accumulated other comprehensive income ( 19 ) Net other comprehensive loss during the period ( 3,034 ) Balance September 30, 2021 $ ( 97 ) |
Basic and Diluted Earnings Per
Basic and Diluted Earnings Per Share | 9 Months Ended |
Sep. 30, 2022 | |
Basic And Diluted Earnings Per Share [Abstract] | |
Basic And Diluted Earnings Per Share | No te 10 – 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 Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (Dollars In Thousands, Except Share and Per Share Data) Net income $ 4,749 $ 4,440 $ 12,721 $ 12,591 Weighted average shares outstanding 7,553,266 7,508,105 7,550,600 7,517,788 Dilutive effect of potential common shares, stock options 19,716 37,364 19,716 37,364 Diluted weighted average common shares outstanding 7,572,982 7,545,469 7,570,316 7,555,152 Basic earnings per share $ 0.63 $ 0.59 $ 1.68 $ 1.67 Diluted earnings per share $ 0.63 $ 0.59 $ 1.68 $ 1.67 There were no stock options not considered in computing diluted earnings per common share for the three and nine months ended September 30, 2022 and September 30, 2021. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note 11 – 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 September 30, 2022 and December 31, 2021, 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. Treasury securities $ - $ 16,670 $ - $ 16,670 U.S. Government agency obligations - 32,325 - 32,325 Municipal bonds - 55,866 - 55,866 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial - 426 - 426 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 206,603 - 206,603 September 30, 2022 Securities available for sale $ - $ 311,890 $ - $ 311,890 U.S. Government agency obligations - 28,858 - 28,858 Municipal bonds - 61,104 - 61,104 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial - 530 - 530 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 219,772 - 219,772 December 31, 2021 Securities available for sale $ - $ 310,264 $ - $ 310,264 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 September 30, 2022 and December 31, 2021, 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) September 30, 2022 Impaired loans $ - $ - $ 901 $ 901 December 31, 2021 Impaired loans $ - $ - $ 916 $ 916 Impaired loans are those that are accounted for under existing Financial Accounting Standards Board (“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 September 30, 2022, of the impaired loans having an aggregate balance of $ 3.1 million, $ 2.0 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 $ 1.0 million in impaired loans, an aggregate valuation allowance of $ 147 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 September 30, 2022 and December 31, 2021, 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) September 30, 2022: Impaired loans $ 901 Appraisal of collateral and Appraisal adjustments (1) 0 % to - 25 % (- 22.8 %) pending agreement of sale Liquidation expenses (2) 0 % to - 8.5 % (- 7.7 %) December 31, 2021: Impaired loans $ 916 Appraisal of collateral and Appraisal adjustments (1) 0 % to - 25 % (- 22.8 %) pending agreement of sale Liquidation expenses (2) 0 % to - 8.5 % (- 7.7 %) 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 September 30, 2022 and December 31, 2021: (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) September 30, 2022: Financial assets: Cash and cash equivalents $ 72,199 $ 72,199 $ 72,199 $ - $ - Securities available-for-sale 311,890 311,890 - 311,890 - Loans receivable, net of allowance 1,169,816 1,130,167 - - 1,130,167 Paycheck Protection Program loans receivable 290 258 - - 258 Restricted investments in bank stock 995 995 - 995 - Accrued interest receivable 2,787 2,787 - 2,787 - Financial liabilities: Deposits 1,507,067 1,503,812 - 1,503,812 - Securities sold under agreements to repurchase and federal funds purchased 14,947 14,947 - 14,947 - Accrued interest payable 517 517 - 517 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - December 31, 2021: Financial assets: Cash and cash equivalents $ 169,692 $ 169,692 $ 169,692 $ - $ - Securities available-for-sale 310,264 310,264 - 310,264 - Loans receivable, net of allowance 1,096,555 1,141,467 - - 1,141,467 Paycheck Protection Program loans receivable 8,568 8,163 - 8,163 Restricted investments in bank stock 1,424 1,424 - 1,424 - Accrued interest receivable 2,603 2,603 - 2,603 - Financial liabilities: Deposits 1,467,025 1,467,938 - 1,467,938 - Securities sold under agreements to repurchase and federal funds purchased 11,252 11,252 - 11,252 - Long-term borrowings 14,651 14,665 - - 14,665 Accrued interest payable 652 652 - 652 - 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 | 9 Months Ended |
Sep. 30, 2022 | |
Future Accounting Standards [Abstract] | |
Future Accounting Standards | Note 12 – 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 financial statements or results of operations. Management is currently in the process of calculating sample expected loss computations and developing the allowance methodology and assumptions that will be used under the new standard. Management will continue to progress on its implementation project plan and improve the Company’s approach throughout the deferral period, while evaluating the impact this guidance will have on its consolidated financial statements. |
Basis Of Presentation (Policy)
Basis Of Presentation (Policy) | 9 Months Ended |
Sep. 30, 2022 | |
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 and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. 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, 2021, included in the Company’s Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 18, 2022. 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 2021 consolidated financial statements may have been reclassified to conform to 2022 presentation. These reclassifications had no effect on 2021 net income. |
Securities Available For Sale (
Securities Available For Sale (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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) September 30, 2022: U.S. Treasury securities $ 17,174 $ - $ ( 504 ) $ 16,670 U.S. Government agency obligations 34,064 - ( 1,739 ) 32,325 Municipal bonds 73,980 23 ( 18,137 ) 55,866 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial 510 - ( 84 ) 426 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 259,953 1 ( 53,351 ) 206,603 Total $ 385,681 $ 24 $ ( 73,815 ) $ 311,890 December 31, 2021: U.S. Government agency obligations 29,146 - ( 288 ) 28,858 Municipal bonds 60,017 1,464 ( 377 ) 61,104 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial 511 19 - 530 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 222,101 885 ( 3,214 ) 219,772 Total $ 311,775 $ 2,368 $ ( 3,879 ) $ 310,264 |
Securities Available-For-Sale By Contractual Maturity | Amortized Fair Cost Value (In Thousands) Due in one year or less $ 2,734 $ 2,718 Due after one year through five years 49,779 47,497 Due after five years through ten years 5,818 5,298 Due after ten years 66,887 49,348 125,218 104,861 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial 510 426 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential 259,953 206,603 Total $ 385,681 $ 311,890 |
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 September 30, 2022: (In Thousands) U.S. Treasury securities $ 16,670 $ ( 504 ) $ - $ - $ 16,670 $ ( 504 ) U.S. Government agency obligations 4,618 ( 309 ) 27,707 ( 1,430 ) 32,325 ( 1,739 ) Municipal bonds 41,312 ( 11,825 ) 12,224 ( 6,312 ) 53,536 ( 18,137 ) U.S. Government Sponsored Enterprise (GSE) - Mortgage -backed securities - commercial 426 ( 84 ) - - 426 ( 84 ) U.S. Government Sponsored Enterprise (GSE) - Mortgage -backed securities - residential 97,642 ( 21,125 ) 108,844 ( 32,226 ) 206,486 ( 53,351 ) Total Temporarily Impaired Securities $ 160,668 $ ( 33,847 ) $ 148,775 $ ( 39,968 ) $ 309,443 $ ( 73,815 ) . December 31, 2021: U.S. Government agency obligations $ 9,911 $ ( 84 ) $ 18,947 $ ( 204 ) $ 28,858 $ ( 288 ) Municipal bonds 20,722 ( 377 ) - - 20,722 ( 377 ) U.S. Government Sponsored Enterprise (GSE) - Mortgage -backed securities - residential 190,435 ( 3,214 ) - - 190,435 ( 3,214 ) Total Temporarily Impaired Securities $ 221,068 $ ( 3,675 ) $ 18,947 $ ( 204 ) $ 240,015 $ ( 3,879 ) |
Loans And Credit Quality (Table
Loans And Credit Quality (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Loans And Credit Quality [Abstract] | |
Composition Of Loans Receivable | September 30, 2022 December 31, 2021 Percentage of Percentage of Balance total Loans Balance total Loans (Dollars in Thousands) Commercial real estate $ 488,065 41.30 % $ 440,655 39.77 % Commercial construction 11,520 0.97 % 6,100 0.55 % Commercial 41,130 3.48 % 41,923 3.78 % Residential real estate 640,420 54.19 % 618,694 55.84 % Consumer 648 0.06 % 642 0.06 % Total loans 1,181,783 100.00 % 1,108,014 100.00 % Unearned origination fees 211 25 Allowance for loan losses ( 12,178 ) ( 11,484 ) Net Loans $ 1,169,816 $ 1,096,555 |
Schedule Of Loan Portfolio By Aggregate Risk Rating | Pass Special Mention Substandard Doubtful Total September 30, 2022 (In Thousands) Commercial real estate $ 486,732 $ - $ 1,333 $ - $ 488,065 Commercial construction 11,215 - 305 - 11,520 Commercial 41,107 23 - - 41,130 Residential real estate 639,536 473 411 - 640,420 Consumer 648 - - - 648 Total $ 1,179,238 $ 496 $ 2,049 $ - $ 1,181,783 December 31, 2021 Commercial real estate $ 439,280 $ - $ 1,375 $ - $ 440,655 Commercial construction 5,789 - 311 - 6,100 Commercial 41,899 24 - - 41,923 Residential real estate 617,533 489 672 - 618,694 Consumer 642 - - - 642 Total $ 1,105,143 $ 513 $ 2,358 $ - $ 1,108,014 |
Schedule Of Impaired Loans | The following table summarizes information in regards to impaired loans by loan portfolio class as of September 30, 2022 and December 31, 2021, respectively: September 30, 2022 December 31, 2021 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance (In Thousands) With no related allowance recorded: Commercial real estate $ 1,389 $ 1,629 $ 1,433 $ 1,673 Commercial construction 55 55 55 55 Commercial - - - - Residential real estate 589 593 932 1,002 Consumer - - - - With an allowance recorded: Commercial real estate $ - $ - $ - $ - $ - $ - Commercial construction 250 250 2 256 256 7 Commercial 242 242 35 248 248 41 Residential real estate 556 556 110 576 576 116 Consumer - - - - - - Total: Commercial real estate $ 1,389 $ 1,629 $ - $ 1,433 $ 1,673 $ - Commercial construction 305 305 2 311 311 7 Commercial 242 242 3OH5 248 248 41 Residential real estate 1,145 1,149 110 1,508 1,578 116 Consumer - - - - - - $ 3,081 $ 3,325 $ 147 $ 3,500 $ 3,810 $ 164 The following tables summarize information regarding the average recorded investment and interest income recognized on impaired loans by loan portfolio for the three and nine months ended September 30, 2022 and 2021, respectively: Three Months Ended September 30, 2022 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In Thousands) With no related allowance recorded: Commercial real estate $ 1,396 $ 17 $ 825 $ 12 Commercial construction 55 1 313 3 Commercial - - - - Residential real estate 602 4 1,425 8 Consumer - - - - With an allowance recorded: Commercial real estate $ - $ - $ 681 $ 5 Commercial construction 251 2 - - Commercial 244 2 226 2 Residential real estate 560 5 586 5 Consumer - - - - Total: Commercial real estate $ 1,396 $ 17 $ 1,506 $ 17 Commercial construction 306 3 313 3 Commercial 244 2 226 2 Residential real estate 1,162 9 2,011 13 Consumer - - - - $ 3,108 $ 31 $ 4,056 $ 35 Nine Months Ended September 30, 2022 2021 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In Thousands) With no related allowance recorded: Commercial real estate $ 1,411 $ 50 $ 835 $ 36 Commercial construction 55 2 314 8 Commercial - - - - Residential real estate 760 17 1,286 32 Consumer - - - - With an allowance recorded: Commercial real estate $ - $ - $ 687 $ 15 Commercial construction 253 6 - - Commercial 245 7 228 7 Residential real estate 566 15 593 16 Consumer - - - - Total: Commercial real estate $ 1,411 $ 50 $ 1,522 $ 51 Commercial construction 308 8 314 8 Commercial 245 7 228 7 Residential real estate 1,326 32 1,879 48 Consumer - - - - $ 3,290 $ 97 $ 3,943 $ 114 |
Schedule Of Nonaccrual Loans | September 30, 2022 December 31, 2021 (In Thousands) Commercial real estate $ - $ - Commercial construction - - Commercial - - Residential real estate - 242 Consumer - - Total $ - $ 242 |
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 September 30, 2022 (In Thousands) Commercial real estate $ 334 $ - $ - $ 334 $ 487,731 $ 488,065 $ - Commercial construction - - - - 11,520 11,520 - Commercial - - - - 41,130 41,130 - Residential real estate 757 - - 757 639,663 640,420 - Consumer - - - - 648 648 - Total $ 1,091 $ - $ - $ 1,091 $ 1,180,692 $ 1,181,783 $ - December 31, 2021 Commercial real estate $ - $ - $ - $ - $ 440,655 $ 440,655 $ - Commercial construction - - - - 6,100 6,100 - Commercial - - - - 41,923 41,923 - Residential real estate - 12 217 229 618,465 618,694 - Consumer - - - - 642 642 - Total $ - $ 12 $ 217 $ 229 $ 1,107,785 $ 1,108,014 $ - |
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 September 30, 2022 Beginning Balance - June 30, 2022 $ 4,815 $ 106 $ 1,272 $ 4,873 $ 13 $ 757 $ 11,836 Charge-offs - - - - - - - Recoveries - - - 67 - - 67 Provisions 169 13 23 ( 6 ) 1 75 275 Ending Balance - September 30, 2022 $ 4,984 $ 119 $ 1,295 $ 4,934 $ 14 $ 832 $ 12,178 Nine Months Ending September 30, 2022 Beginning Balance - December 31, 2021 $ 4,400 $ 71 $ 1,328 $ 4,718 $ 14 $ 953 $ 11,484 Charge-offs - - - - - - - Recoveries - - - 69 - - 69 Provisions 584 48 ( 33 ) 147 - ( 121 ) 625 Ending Balance - September 30, 2022 $ 4,984 $ 119 $ 1,295 $ 4,934 $ 14 $ 832 $ 12,178 Three Months Ending September 30, 2021 Beginning Balance - June 30, 2021 $ 4,542 $ 116 $ 1,345 $ 4,587 $ 25 $ 545 $ 11,160 Charge-offs - - - ( 2 ) - - ( 2 ) Recoveries - - - - - - - Provisions ( 50 ) ( 29 ) ( 57 ) 88 - 198 150 Ending Balance - September 30, 2021 $ 4,492 $ 87 $ 1,288 $ 4,673 $ 25 $ 743 $ 11,308 Nine Months Ending September 30, 2021 Beginning Balance - December 31, 2020 $ 4,379 $ 150 $ 848 $ 4,485 $ 14 $ 694 $ 10,570 Charge-offs - - - ( 2 ) ( 2 ) - ( 4 ) Recoveries - - - 2 - - 2 Provisions 113 ( 63 ) 440 188 13 49 740 Ending Balance - September 30, 2021 $ 4,492 $ 87 $ 1,288 $ 4,673 $ 25 $ 743 $ 11,308 |
Allocation Of Allowance For Loan Losses And Related Loan Portfolio | Commercial Real Estate Commercial Construction Commercial Residential Real Estate Consumer Unallocated Total (In Thousands) September 30, 2022 Allowance for Loan Losses Ending Balance $ 4,984 $ 119 $ 1,295 $ 4,934 $ 14 $ 832 $ 12,178 Ending balance: individually evaluated for impairment $ - $ 2 $ 35 $ 110 $ - $ - $ 147 Ending balance: collectively evaluated for impairment $ 4,984 $ 117 $ 1,260 $ 4,824 $ 14 $ 832 $ 12,031 Loans receivables: Ending balance $ 488,065 $ 11,520 $ 41,130 $ 640,420 $ 648 $ 1,181,783 Ending balance: individually evaluated for impairment $ 1,389 $ 305 $ 242 $ 1,145 $ - $ 3,081 Ending balance: collectively evaluated for impairment $ 486,676 $ 11,215 $ 40,888 $ 639,275 $ 648 $ 1,178,702 December 31, 2021 Allowance for Loan Losses Ending Balance $ 4,400 $ 71 $ 1,328 $ 4,718 $ 14 $ 953 $ 11,484 Ending balance: individually evaluated for impairment $ - $ 7 $ 41 $ 116 $ - $ - $ 164 Ending balance: collectively evaluated for impairment $ 4,400 $ 64 $ 1,287 $ 4,602 $ 14 $ 953 $ 11,320 Loans receivables: Ending balance $ 440,655 $ 6,100 $ 41,923 $ 618,694 $ 642 $ 1,108,014 Ending balance: individually evaluated for impairment $ 1,433 $ 311 $ 248 $ 1,508 $ - $ 3,500 Ending balance: collectively evaluated for impairment $ 439,222 $ 5,789 $ 41,675 $ 617,186 $ 642 $ 1,104,514 |
Troubled Debt Restructuring Outstanding | Accrual Loans Non-Accrual Loans Total Modifications September 30, 2022 (In Thousands) Commercial real estate $ 998 $ - $ 998 Commercial construction 250 - 250 Commercial 242 - 242 Residential real estate 718 - 718 Consumer - - - $ 2,208 $ - $ 2,208 December 31, 2021 Commercial real estate $ 1,027 $ - $ 1,027 Commercial construction 256 - 256 Commercial 248 - 248 Residential real estate 806 13 819 Consumer - - - $ 2,337 $ 13 $ 2,350 |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Deposits [Abstract] | |
Components Of Deposits | September 30, 2022 December 31, 2021 (In Thousands) Demand, non-interest bearing $ 374,414 $ 323,513 Demand, NOW and money market, interest bearing 248,004 248,401 Savings 753,444 739,637 Time, $250 and over 44,699 54,739 Time, other 86,506 100,735 Total deposits $ 1,507,067 $ 1,467,025 |
Scheduled Maturities of Time Deposits | 2022 (remainder of the year) $ 26,952 2023 83,754 2024 14,261 2025 2,952 2026 2,278 2027 1,008 $ 131,205 |
Other Comprehensive Loss (Table
Other Comprehensive Loss (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Other Comprehensive Loss[Abstract] | |
Components Of Other Comprehensive Loss, Both Before Tax And Net Of Tax | Three Months Ended September 30, 2022 2021 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive loss: Unrealized holding losses on securities available for sale $ ( 19,911 ) $ 4,181 $ ( 15,730 ) $ ( 1,404 ) $ 295 $ ( 1,109 ) Reclassification adjustments for gains on securities transactions included in net income (A),(B) - - - - - - Total other comprehensive loss $ ( 19,911 ) $ 4,181 $ ( 15,730 ) $ ( 1,404 ) $ 295 $ ( 1,109 ) Nine Months Ended September 30, 2022 2021 (In Thousands) Before Tax Net of Before Tax Net of Tax Effect Tax Tax Effect Tax Change in accumulated other comprehensive loss: Unrealized holding losses on securities available for sale $ ( 72,280 ) $ 15,179 $ ( 57,101 ) $ ( 3,817 ) $ 802 $ ( 3,015 ) Reclassification adjustments for gains on securities transactions included in net income (A),(B) - - - ( 24 ) 5 ( 19 ) Total other comprehensive loss $ ( 72,280 ) $ 15,179 $ ( 57,101 ) $ ( 3,841 ) $ 807 $ ( 3,034 ) 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 | Nine Months Ended September 30, 2022 2021 (In Thousands) Securities available for sale: Realized gains on securities transactions $ - $ ( 24 ) Income taxes - 5 Net of tax $ - $ ( 19 ) |
Summary Of Accumulated Other Comprehensive Loss, Net Of Tax | Securities Available for Sale Three Months Ended September 30, 2022 and 2021 (In Thousands) Balance June 30, 2022 $ ( 42,565 ) Other comprehensive loss before reclassifications ( 15,730 ) Amounts reclassified from accumulated other comprehensive loss - Net other comprehensive loss during the period ( 15,730 ) Balance September 30, 2022 $ ( 58,295 ) Balance June 30, 2021 $ 1,012 Other comprehensive loss before reclassifications ( 1,109 ) Amounts reclassified from accumulated other comprehensive income - Net other comprehensive loss during the period ( 1,109 ) Balance September 30, 2021 $ ( 97 ) Nine Months Ended September 30, 2022 and 2021 Balance January 1, 2022 $ ( 1,194 ) Other comprehensive loss before reclassifications ( 57,101 ) Amounts reclassified from accumulated other comprehensive loss - Net other comprehensive loss during the period ( 57,101 ) Balance September 30, 2022 $ ( 58,295 ) Balance January 1, 2021 $ 2,937 Other comprehensive loss before reclassifications ( 3,015 ) Amounts reclassified from accumulated other comprehensive income ( 19 ) Net other comprehensive loss during the period ( 3,034 ) Balance September 30, 2021 $ ( 97 ) |
Basic and Diluted Earnings Pe_2
Basic and Diluted Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Basic And Diluted Earnings Per Share [Abstract] | |
Earnings Per Share | Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 (Dollars In Thousands, Except Share and Per Share Data) Net income $ 4,749 $ 4,440 $ 12,721 $ 12,591 Weighted average shares outstanding 7,553,266 7,508,105 7,550,600 7,517,788 Dilutive effect of potential common shares, stock options 19,716 37,364 19,716 37,364 Diluted weighted average common shares outstanding 7,572,982 7,545,469 7,570,316 7,555,152 Basic earnings per share $ 0.63 $ 0.59 $ 1.68 $ 1.67 Diluted earnings per share $ 0.63 $ 0.59 $ 1.68 $ 1.67 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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. Treasury securities $ - $ 16,670 $ - $ 16,670 U.S. Government agency obligations - 32,325 - 32,325 Municipal bonds - 55,866 - 55,866 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial - 426 - 426 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 206,603 - 206,603 September 30, 2022 Securities available for sale $ - $ 311,890 $ - $ 311,890 U.S. Government agency obligations - 28,858 - 28,858 Municipal bonds - 61,104 - 61,104 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - commercial - 530 - 530 U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities - residential - 219,772 - 219,772 December 31, 2021 Securities available for sale $ - $ 310,264 $ - $ 310,264 |
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) September 30, 2022 Impaired loans $ - $ - $ 901 $ 901 December 31, 2021 Impaired loans $ - $ - $ 916 $ 916 |
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) September 30, 2022: Impaired loans $ 901 Appraisal of collateral and Appraisal adjustments (1) 0 % to - 25 % (- 22.8 %) pending agreement of sale Liquidation expenses (2) 0 % to - 8.5 % (- 7.7 %) December 31, 2021: Impaired loans $ 916 Appraisal of collateral and Appraisal adjustments (1) 0 % to - 25 % (- 22.8 %) pending agreement of sale Liquidation expenses (2) 0 % to - 8.5 % (- 7.7 %) 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) September 30, 2022: Financial assets: Cash and cash equivalents $ 72,199 $ 72,199 $ 72,199 $ - $ - Securities available-for-sale 311,890 311,890 - 311,890 - Loans receivable, net of allowance 1,169,816 1,130,167 - - 1,130,167 Paycheck Protection Program loans receivable 290 258 - - 258 Restricted investments in bank stock 995 995 - 995 - Accrued interest receivable 2,787 2,787 - 2,787 - Financial liabilities: Deposits 1,507,067 1,503,812 - 1,503,812 - Securities sold under agreements to repurchase and federal funds purchased 14,947 14,947 - 14,947 - Accrued interest payable 517 517 - 517 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - December 31, 2021: Financial assets: Cash and cash equivalents $ 169,692 $ 169,692 $ 169,692 $ - $ - Securities available-for-sale 310,264 310,264 - 310,264 - Loans receivable, net of allowance 1,096,555 1,141,467 - - 1,141,467 Paycheck Protection Program loans receivable 8,568 8,163 - 8,163 Restricted investments in bank stock 1,424 1,424 - 1,424 - Accrued interest receivable 2,603 2,603 - 2,603 - Financial liabilities: Deposits 1,467,025 1,467,938 - 1,467,938 - Securities sold under agreements to repurchase and federal funds purchased 11,252 11,252 - 11,252 - Long-term borrowings 14,651 14,665 - - 14,665 Accrued interest payable 652 652 - 652 - Off-balance sheet financial instruments: Commitments to grant loans - - - - - Unfunded commitments under lines of credit - - - - - Standby letters of credit - - - - - |
Securities Available For Sale_2
Securities Available For Sale (Narrative) (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 USD ($) security | Sep. 30, 2021 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) security | |
Securities Available For Sale [Abstract] | ||||
Securities pledged as collateral | $ 129,500,000 | $ 114,000,000 | ||
Realized gross gains | $ 24,000 | |||
Sale of securities | $ 0 | $ 0 | $ 3,333,000 | |
Securities in an unrealized loss position | security | 202 | 70 |
Securities Available For Sale_3
Securities Available For Sale (Amortized Cost And Fair Values Of Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 385,681 | $ 311,775 |
Gross Unrealized Gains | 24 | 2,368 |
Gross Unrealized Losses | (73,815) | (3,879) |
Fair Value | 311,890 | 310,264 |
US Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 17,174 | |
Gross Unrealized Losses | (504) | |
Fair Value | 16,670 | |
U.S Government Agency Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 34,064 | 29,146 |
Gross Unrealized Losses | (1,739) | (288) |
Fair Value | 32,325 | 28,858 |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 73,980 | 60,017 |
Gross Unrealized Gains | 23 | 1,464 |
Gross Unrealized Losses | (18,137) | (377) |
Fair Value | 55,866 | 61,104 |
U.S. GSE - Mortgage-backed Securities [Member] | Commercial RealEstate [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 510 | 511 |
Gross Unrealized Gains | 19 | |
Gross Unrealized Losses | (84) | |
Fair Value | 426 | 530 |
U.S. GSE - Mortgage-backed Securities [Member] | Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 259,953 | 222,101 |
Gross Unrealized Gains | 1 | 885 |
Gross Unrealized Losses | (53,351) | (3,214) |
Fair Value | $ 206,603 | $ 219,772 |
Securities Available For Sale_4
Securities Available For Sale (Securities Available-For-Sale By Contractual Maturity) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Due in one year or less | $ 2,734 | |
Amortized Cost, Due after one year through five years | 49,779 | |
Amortized Cost, Due after five years through ten years | 5,818 | |
Amortized Cost, Due after ten years | 66,887 | |
Amortized Cost, Debt securities expected maturity | 125,218 | |
Amortized Cost, Debt Maturities, Total | 385,681 | $ 311,775 |
Fair Value, Due in one year or less | 2,718 | |
Fair Value, Due after one year through five years | 47,497 | |
Fair Value, Due after five years through ten years | 5,298 | |
Fair Value, Due after ten years | 49,348 | |
Fair Value, Debt securities expected maturity | 104,861 | |
Fair Value, Debt maturities, Total | 311,890 | 310,264 |
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 | 510 | |
Amortized Cost, Debt Maturities, Total | 510 | 511 |
Fair Value, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities | 426 | |
Fair Value, Debt maturities, Total | 426 | 530 |
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 | 259,953 | |
Amortized Cost, Debt Maturities, Total | 259,953 | 222,101 |
Fair Value, U.S. Government Sponsored Enterprise (GSE) - Mortgage-backed securities | 206,603 | |
Fair Value, Debt maturities, Total | $ 206,603 | $ 219,772 |
Securities Available For Sale_5
Securities Available For Sale (Investments' Gross Unrealized Losses And Fair Value) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | $ 160,668 | $ 221,068 |
Fair Value, 12 Months or More | 148,775 | 18,947 |
Fair Value, Total | 309,443 | 240,015 |
Unrealized Losses, Less Than 12 Months | (33,847) | (3,675) |
Unrealized Losses, 12 Months or More | (39,968) | (204) |
Unrealized Losses, Total | (73,815) | (3,879) |
US Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 16,670 | |
Fair Value, Total | 16,670 | |
Unrealized Losses, Less Than 12 Months | (504) | |
Unrealized Losses, Total | (504) | |
U.S Government Agency Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 4,618 | 9,911 |
Fair Value, 12 Months or More | 27,707 | 18,947 |
Fair Value, Total | 32,325 | 28,858 |
Unrealized Losses, Less Than 12 Months | (309) | (84) |
Unrealized Losses, 12 Months or More | (1,430) | (204) |
Unrealized Losses, Total | (1,739) | (288) |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 41,312 | 20,722 |
Fair Value, 12 Months or More | 12,224 | |
Fair Value, Total | 53,536 | 20,722 |
Unrealized Losses, Less Than 12 Months | (11,825) | (377) |
Unrealized Losses, 12 Months or More | (6,312) | |
Unrealized Losses, Total | (18,137) | (377) |
Commercial RealEstate [Member] | U.S. GSE - Mortgage-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 426 | |
Fair Value, Total | 426 | |
Unrealized Losses, Less Than 12 Months | (84) | |
Unrealized Losses, Total | (84) | |
Residential [Member] | U.S. GSE - Mortgage-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 97,642 | 190,435 |
Fair Value, 12 Months or More | 108,844 | |
Fair Value, Total | 206,486 | 190,435 |
Unrealized Losses, Less Than 12 Months | (21,125) | (3,214) |
Unrealized Losses, 12 Months or More | (32,226) | |
Unrealized Losses, Total | $ (53,351) | $ (3,214) |
Restricted Investment In Bank_2
Restricted Investment In Bank Stock (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Federal Home Loan Bank Of Pittsburgh [Member] | ||
Investment stock at a carrying value | $ 955 | $ 1,400 |
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 | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2022 USD ($) loan | Sep. 30, 2021 USD ($) loan | Sep. 30, 2022 USD ($) loan | Sep. 30, 2021 USD ($) loan | Dec. 31, 2021 USD ($) loan | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Financing Receivable, Modifications [Line Items] | ||||||||
Real estate foreclosed assets | $ 0 | |||||||
Loans collateralized by residential real estate in process of foreclosure | $ 217,000 | |||||||
Available commitments outstanding on TDRs | $ 0 | $ 0 | ||||||
Number of new TDRs | loan | 0 | 0 | 0 | 0 | ||||
Number of loans experiencing payment default | loan | 0 | 0 | 0 | 0 | ||||
Number of loans resumed payments under their original contractual terms | loan | 172 | 199 | ||||||
Amount of loans resumed payments under their original contractual terms | $ 104,300,000 | $ 104,300,000 | $ 116,400,000 | |||||
Financing Receivable, Allowance for Credit Losses | 12,178,000 | $ 11,308,000 | $ 12,178,000 | $ 11,308,000 | 11,484,000 | $ 11,836,000 | $ 11,160,000 | $ 10,570,000 |
CARES Act [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Number of PPP loans | loan | 3 | |||||||
PPP loan receivable amount for which SBA loan guarantee approval received | $ 290,000,000 | $ 290,000,000 | 8,600,000 | |||||
Unearned origination fees and costs | 165,000 | |||||||
PPP loans guarantee percent by the SBA | 100% | 100% | ||||||
Financing Receivable, Allowance for Credit Losses | $ 0 | $ 0 | ||||||
Consumer [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses | 14,000 | 25,000 | 14,000 | 25,000 | 14,000 | 13,000 | 25,000 | 14,000 |
Residential Real Estate [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Financing Receivable, Allowance for Credit Losses | 4,934,000 | $ 4,673,000 | 4,934,000 | $ 4,673,000 | $ 4,718,000 | $ 4,873,000 | $ 4,587,000 | $ 4,485,000 |
Residential Real Estate [Member] | Substandard [Member] | ||||||||
Financing Receivable, Modifications [Line Items] | ||||||||
Real estate foreclosed assets | $ 0 | $ 0 |
Loans and Credit Quality (Compo
Loans and Credit Quality (Composition Of Loans Receivable) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 100% | 100% |
Total Loans | $ 1,181,783 | $ 1,108,014 |
Unearned origination fees | 211 | 25 |
Allowance for Loan Losses | (12,178) | (11,484) |
Net Loans | $ 1,169,816 | $ 1,096,555 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 41.30% | 39.77% |
Total Loans | $ 488,065 | $ 440,655 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 3.48% | 3.78% |
Total Loans | $ 41,130 | $ 41,923 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 54.19% | 55.84% |
Total Loans | $ 640,420 | $ 618,694 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 0.06% | 0.06% |
Total Loans | $ 648 | $ 642 |
Construction [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of total Loans | 0.97% | 0.55% |
Total Loans | $ 11,520 | $ 6,100 |
Loans and Credit Quality (Sched
Loans and Credit Quality (Schedule Of Loan Portfolio By Aggregate Risk Rating) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | $ 1,181,783 | $ 1,108,014 |
Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 1,179,238 | 1,105,143 |
Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 496 | 513 |
Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 2,049 | 2,358 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 488,065 | 440,655 |
Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 486,732 | 439,280 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 1,333 | 1,375 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 41,130 | 41,923 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 41,107 | 41,899 |
Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 23 | 24 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 640,420 | 618,694 |
Residential Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 639,536 | 617,533 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 473 | 489 |
Residential Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 411 | 672 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 648 | 642 |
Consumer [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 648 | 642 |
Construction [Member] | Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 11,520 | 6,100 |
Construction [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | 11,215 | 5,789 |
Construction [Member] | Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross | $ 305 | $ 311 |
Loans and Credit Quality (Sch_2
Loans and Credit Quality (Schedule Of Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | $ 2,000 | $ 2,000 | |||
Recorded Investment, With an allowance recorded | 1,000 | 1,000 | |||
Total Recorded Investment | 3,081 | 3,081 | $ 3,500 | ||
Total Unpaid Principal Balance | 3,325 | 3,325 | 3,810 | ||
Related Allowance | 147 | 147 | 164 | ||
Total Average Recorded Investment Impaired | 3,108 | $ 4,056 | 3,290 | $ 3,943 | |
Total Interest Income Recognized | 31 | 35 | 97 | 114 | |
Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 1,389 | 1,389 | 1,433 | ||
Total Recorded Investment | 1,389 | 1,389 | 1,433 | ||
Unpaid Principal Balance, With no related allowance recorded | 1,629 | 1,629 | 1,673 | ||
Total Unpaid Principal Balance | 1,629 | 1,629 | 1,673 | ||
Average Recorded Investment, With no related allowance recorded | 1,396 | 825 | 1,411 | 835 | |
Average Recorded Investment, With an allowance recorded | 681 | 687 | |||
Total Average Recorded Investment Impaired | 1,396 | 1,506 | 1,411 | 1,522 | |
Interest Income Recognized, With no related allowance recorded | 17 | 12 | 50 | 36 | |
Interest Income Recognized, With an allowance recorded | 5 | 15 | |||
Total Interest Income Recognized | 17 | 17 | 50 | 51 | |
Commercial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With an allowance recorded | 242 | 242 | 248 | ||
Total Recorded Investment | 242 | 242 | 248 | ||
Unpaid Principal Balance, With an allowance recorded | 242 | 242 | 248 | ||
Total Unpaid Principal Balance | 242 | 242 | 248 | ||
Related Allowance | 35 | 35 | 41 | ||
Average Recorded Investment, With an allowance recorded | 244 | 226 | 245 | 228 | |
Total Average Recorded Investment Impaired | 244 | 226 | 245 | 228 | |
Interest Income Recognized, With an allowance recorded | 2 | 2 | 7 | 7 | |
Total Interest Income Recognized | 2 | 2 | 7 | 7 | |
Residential Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 589 | 589 | 932 | ||
Recorded Investment, With an allowance recorded | 556 | 556 | 576 | ||
Total Recorded Investment | 1,145 | 1,145 | 1,508 | ||
Unpaid Principal Balance, With no related allowance recorded | 593 | 593 | 1,002 | ||
Unpaid Principal Balance, With an allowance recorded | 556 | 556 | 576 | ||
Total Unpaid Principal Balance | 1,149 | 1,149 | 1,578 | ||
Related Allowance | 110 | 110 | 116 | ||
Average Recorded Investment, With no related allowance recorded | 602 | 1,425 | 760 | 1,286 | |
Average Recorded Investment, With an allowance recorded | 560 | 586 | 566 | 593 | |
Total Average Recorded Investment Impaired | 1,162 | 2,011 | 1,326 | 1,879 | |
Interest Income Recognized, With no related allowance recorded | 4 | 8 | 17 | 32 | |
Interest Income Recognized, With an allowance recorded | 5 | 5 | 15 | 16 | |
Total Interest Income Recognized | 9 | 13 | 32 | 48 | |
Construction [Member] | Commercial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment, With no related allowance recorded | 55 | 55 | 55 | ||
Recorded Investment, With an allowance recorded | 250 | 250 | 256 | ||
Total Recorded Investment | 305 | 305 | 311 | ||
Unpaid Principal Balance, With no related allowance recorded | 55 | 55 | 55 | ||
Unpaid Principal Balance, With an allowance recorded | 250 | 250 | 256 | ||
Total Unpaid Principal Balance | 305 | 305 | 311 | ||
Related Allowance | 2 | 2 | $ 7 | ||
Average Recorded Investment, With no related allowance recorded | 55 | 313 | 55 | 314 | |
Average Recorded Investment, With an allowance recorded | 251 | 253 | |||
Total Average Recorded Investment Impaired | 306 | 313 | 308 | 314 | |
Interest Income Recognized, With no related allowance recorded | 1 | 3 | 2 | 8 | |
Interest Income Recognized, With an allowance recorded | 2 | 6 | |||
Total Interest Income Recognized | $ 3 | $ 3 | $ 8 | $ 8 |
Loans and Credit Quality (Sch_3
Loans and Credit Quality (Schedule Of Nonaccrual Loans) (Details) $ in Thousands | Dec. 31, 2021 USD ($) |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Non-Accrual Loans | $ 242 |
Residential Real Estate [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Non-Accrual Loans | $ 242 |
Loans and Credit Quality (Sch_4
Loans and Credit Quality (Schedule Of Past Due Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | $ 1,181,783 | $ 1,108,014 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 1,091 | |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 12 | |
Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 217 | |
Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 1,091 | 229 |
Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 1,180,692 | 1,107,785 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 488,065 | 440,655 |
Commercial Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 334 | |
Commercial Real Estate [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 334 | |
Commercial Real Estate [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 487,731 | 440,655 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 41,130 | 41,923 |
Commercial [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 41,130 | 41,923 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 640,420 | 618,694 |
Residential Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 757 | |
Residential Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 12 | |
Residential Real Estate [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 217 | |
Residential Real Estate [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 757 | 229 |
Residential Real Estate [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 639,663 | 618,465 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 648 | 642 |
Consumer [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 648 | 642 |
Construction [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | 11,520 | 6,100 |
Construction [Member] | Commercial [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loan Receivables | $ 11,520 | $ 6,100 |
Loans and Credit Quality (Activ
Loans and Credit Quality (Activity In Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | $ 11,836 | $ 11,160 | $ 11,484 | $ 10,570 |
Charge-offs | (2) | (4) | ||
Recoveries | 67 | 69 | 2 | |
Provisions | 275 | 150 | 625 | 740 |
Ending balance | 12,178 | 11,308 | 12,178 | 11,308 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 4,815 | 4,542 | 4,400 | 4,379 |
Provisions | 169 | (50) | 584 | 113 |
Ending balance | 4,984 | 4,492 | 4,984 | 4,492 |
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,272 | 1,345 | 1,328 | 848 |
Provisions | 23 | (57) | (33) | 440 |
Ending balance | 1,295 | 1,288 | 1,295 | 1,288 |
Commercial [Member] | Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 106 | 116 | 71 | 150 |
Provisions | 13 | (29) | 48 | (63) |
Ending balance | 119 | 87 | 119 | 87 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 4,873 | 4,587 | 4,718 | 4,485 |
Charge-offs | (2) | (2) | ||
Recoveries | 67 | 69 | 2 | |
Provisions | (6) | 88 | 147 | 188 |
Ending balance | 4,934 | 4,673 | 4,934 | 4,673 |
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 13 | 25 | 14 | 14 |
Charge-offs | (2) | |||
Provisions | 1 | 13 | ||
Ending balance | 14 | 25 | 14 | 25 |
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 757 | 545 | 953 | 694 |
Provisions | 75 | 198 | (121) | 49 |
Ending balance | $ 832 | $ 743 | $ 832 | $ 743 |
Loans and Credit Quality (Alloc
Loans and Credit Quality (Allocation Of Allowance For Loan Losses And Related Loan Portfolio) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | $ 12,178 | $ 11,836 | $ 11,484 | $ 11,308 | $ 11,160 | $ 10,570 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 147 | 164 | ||||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 12,031 | 11,320 | ||||
Ending Balance | 1,181,783 | 1,108,014 | ||||
Loans receivables, Ending balance: individually evaluated for impairment | 3,081 | 3,500 | ||||
Loans receivables, Ending balance: collectively evaluated for impairment | 1,178,702 | 1,104,514 | ||||
Commercial Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 4,984 | 4,815 | 4,400 | 4,492 | 4,542 | 4,379 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 4,984 | 4,400 | ||||
Ending Balance | 488,065 | 440,655 | ||||
Loans receivables, Ending balance: individually evaluated for impairment | 1,389 | 1,433 | ||||
Loans receivables, Ending balance: collectively evaluated for impairment | 486,676 | 439,222 | ||||
Commercial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 1,295 | 1,272 | 1,328 | 1,288 | 1,345 | 848 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 35 | 41 | ||||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 1,260 | 1,287 | ||||
Ending Balance | 41,130 | 41,923 | ||||
Loans receivables, Ending balance: individually evaluated for impairment | 242 | 248 | ||||
Loans receivables, Ending balance: collectively evaluated for impairment | 40,888 | 41,675 | ||||
Commercial [Member] | Construction [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 119 | 106 | 71 | 87 | 116 | 150 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 2 | 7 | ||||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 117 | 64 | ||||
Ending Balance | 11,520 | 6,100 | ||||
Loans receivables, Ending balance: individually evaluated for impairment | 305 | 311 | ||||
Loans receivables, Ending balance: collectively evaluated for impairment | 11,215 | 5,789 | ||||
Residential Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 4,934 | 4,873 | 4,718 | 4,673 | 4,587 | 4,485 |
Allowance for Loan Losses, Ending balance: individually evaluated for impairment | 110 | 116 | ||||
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 4,824 | 4,602 | ||||
Ending Balance | 640,420 | 618,694 | ||||
Loans receivables, Ending balance: individually evaluated for impairment | 1,145 | 1,508 | ||||
Loans receivables, Ending balance: collectively evaluated for impairment | 639,275 | 617,186 | ||||
Consumer [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 14 | 13 | 14 | 25 | 25 | 14 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | 14 | 14 | ||||
Ending Balance | 648 | 642 | ||||
Loans receivables, Ending balance: collectively evaluated for impairment | 648 | 642 | ||||
Unallocated [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Ending Balance | 832 | $ 757 | 953 | $ 743 | $ 545 | $ 694 |
Allowance for Loan Losses, Ending balance: collectively evaluated for impairment | $ 832 | $ 953 |
Loans and Credit Quality (Troub
Loans and Credit Quality (Troubled Debt Restructuring Outstanding) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | $ 2,208 | $ 2,350 |
Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 2,208 | 2,337 |
Non-Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 13 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 998 | 1,027 |
Commercial Real Estate [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 998 | 1,027 |
Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 242 | 248 |
Commercial [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 242 | 248 |
Commercial [Member] | Construction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 250 | 256 |
Commercial [Member] | Construction [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 250 | 256 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | 718 | 819 |
Residential Real Estate [Member] | Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | $ 718 | 806 |
Residential Real Estate [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Modifications | $ 13 |
Deposits (Components Of Deposit
Deposits (Components Of Deposits) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Deposits [Abstract] | ||
Demand, non-interest bearing | $ 374,414 | $ 323,513 |
Demand, NOW and money market, interest bearing | 248,004 | 248,401 |
Savings | 753,444 | 739,637 |
Time, $250 and over | 44,699 | 54,739 |
Time, other | 86,506 | 100,735 |
Total Deposits | $ 1,507,067 | $ 1,467,025 |
Deposits (Scheduled Maturities
Deposits (Scheduled Maturities Of Time Deposits) (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
Deposits [Abstract] | |
2022 (remainder of the year) | $ 26,952 |
2023 | 83,754 |
2024 | 14,261 |
2025 | 2,952 |
2026 | 2,278 |
2027 | 1,008 |
Total time deposits | $ 131,205 |
Short-term and Long-term Borr_2
Short-term and Long-term Borrowings (Narrative) (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | |
Line of Credit Facility [Line Items] | ||
Maximum borrowing capacity | $ 742,700,000 | |
Short-term advances with FHLB outstanding | 0 | $ 0 |
Long-term advances FHLB | 0 | 14,700,000 |
Letters of Credit Outstanding | $ 90,000 | |
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 | |
Line of credit outstanding | 0 | 0 |
Atlantic Community Bankers Bank (ACBB) [Member | Revolving Line of Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Line of credit, maximum borrowing capacity | 5,000,000 | |
Line of credit outstanding | $ 0 | $ 0 |
Stock Incentive Plan and Empl_2
Stock Incentive Plan and Employee Stock Purchase Plan (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 75 Months Ended | 144 Months Ended | |||||||
Jun. 20, 2019 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Shares issued under employee stock purchase plan, shares | 757 | 958 | 706 | 870 | 713 | 807 | |||||
Stock Options [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Stock options granted | 0 | 0 | 0 | 0 | |||||||
Unrecognized compensation cost | $ 0 | $ 0 | $ 0 | $ 0 | |||||||
Restricted Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Awards granted | 0 | 0 | 10,701 | 12,009 | 220,307 | ||||||
Stock compensation expense | $ 71,000 | $ 61,000 | $ 433,000 | $ 368,000 | |||||||
Minimum [Member] | Restricted Stock [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Award vesting period | 2 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 expiration date | Jun. 20, 2029 | ||||||||||
Shares available for issuance | 419,806 | 419,806 | 419,806 | 419,806 | |||||||
2010 Stock Incentive Plan [Member] | Maximum [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Award vesting period | 10 years | ||||||||||
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 | 350,000 | |||||||
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% | ||||||||||
Maximum discount to fair value percentage | 15% | ||||||||||
Employee stock purchase plan, discount expense | $ 1,000 | $ 1,000 | $ 2,000 | $ 2,000 | |||||||
Shares issued under employee stock purchase plan, shares | 20,936 |
Other Comprehensive Loss (Compo
Other Comprehensive Loss (Components Of Other Comprehensive Loss, Both Before Tax And Net Of Tax) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Other Comprehensive Loss[Abstract] | |||||||||
Unrealized holding losses on securities | $ (19,911) | $ (1,404) | $ (72,280) | $ (3,817) | |||||
Unrealized holding losses on securities , Tax Effect | 4,181 | 295 | 15,179 | 802 | |||||
Unrealized holding losses on securities, Net of Tax | (15,730) | (1,109) | (57,101) | (3,015) | |||||
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 | (19,911) | (1,404) | (72,280) | (3,841) | |||||
Total other comprehensive loss, Tax Effect | 4,181 | 295 | 15,179 | 807 | |||||
Total other comprehensive loss, net of tax | $ (15,730) | $ (17,316) | $ (24,055) | $ (1,109) | $ 105 | $ (2,030) | $ (57,101) | $ (3,034) | |
[1] Realized gains on securities transactions included in gain on sales of securities in the accompanying Consolidated Statements of Income. Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. |
Other Comprehensive Loss (Summa
Other Comprehensive Loss (Summary Of Realized Gains On Securities Available For Sale, Net Of Tax) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2021 | ||
Other Comprehensive Loss[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. Tax effect included in income tax expense in the accompanying Consolidated Statements of Income. |
Other Comprehensive Loss (Sum_2
Other Comprehensive Loss (Summary Of Accumulated Other Comprehensive Loss, Net Of Tax) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Other Comprehensive Loss[Abstract] | ||||||||
Beginning Balance | $ (42,565) | $ (1,194) | $ 1,012 | $ 2,937 | $ (1,194) | $ 2,937 | ||
Other comprehensive loss before reclassifications | (15,730) | (1,109) | (57,101) | (3,015) | ||||
Amounts reclassified from accumulated other comprehensive (loss) income | (19) | |||||||
Total other comprehensive loss, net of tax | (15,730) | $ (17,316) | $ (24,055) | (1,109) | $ 105 | $ (2,030) | (57,101) | (3,034) |
Ending Balance | $ (58,295) | $ (42,565) | $ (97) | $ 1,012 | $ (58,295) | $ (97) |
Basic and Diluted Earnings Pe_3
Basic and Diluted Earnings Per Share (Narrative) (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Basic And Diluted Earnings Per Share [Abstract] | ||||
Antidilutive securities excluded from computation of diluted earnings per share | 0 | 0 | 0 | 0 |
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 | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Basic And Diluted Earnings Per Share [Abstract] | ||||
Net income | $ 4,749 | $ 4,440 | $ 12,721 | $ 12,591 |
Weighted average shares outstanding | 7,553,266 | 7,508,105 | 7,550,600 | 7,517,788 |
Dilutive effect of potential common shares, stock options | 19,716 | 37,364 | 19,716 | 37,364 |
Diluted weighted average common shares outstanding | 7,572,982 | 7,545,469 | 7,570,316 | 7,555,152 |
Basic earnings per share | $ 0.63 | $ 0.59 | $ 1.68 | $ 1.67 |
Diluted earnings per share | $ 0.63 | $ 0.59 | $ 1.68 | $ 1.67 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value Measurements [Abstract] | ||
Impaired loans aggregate balance | $ 3,081,000 | $ 3,500,000 |
Impaired loans without related allowance | 2,000,000 | |
Impaired loans with related allowance | 1,000,000 | |
Related Allowance | 147,000 | 164,000 |
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 | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | $ 311,890 | $ 310,264 |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 16,670 | |
U.S Government Agency Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 32,325 | 28,858 |
Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 55,866 | 61,104 |
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, Debt Securities | 426 | 530 |
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, Debt Securities | 206,603 | 219,772 |
Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 311,890 | 310,264 |
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, Debt Securities | 32,325 | 28,858 |
Fair Value, Recurring [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 55,866 | 61,104 |
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, Debt Securities | 426 | 530 |
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, Debt Securities | 206,603 | 219,772 |
(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, Debt 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, Debt 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, Debt 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, Debt 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, Debt 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, Debt Securities | 311,890 | 310,264 |
(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, Debt Securities | 311,890 | 310,264 |
(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, Debt Securities | 32,325 | 28,858 |
(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, Debt Securities | 55,866 | 61,104 |
(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, Debt Securities | 426 | 530 |
(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, Debt Securities | 206,603 | 219,772 |
(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, Debt 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, Debt 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, Debt 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, Debt 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, Debt 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 | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Estimate | $ 901 | $ 916 |
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Estimate | ||
(Level 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Estimate | ||
(Level 3) Significant Unobservable Inputs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Estimate | $ 901 | $ 916 |
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 | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | ||
Appraisal Adjustment [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets fair value | $ 901 | $ 916 | |
Appraisal Adjustment [Member] | Minimum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range | [1] | (25.00%) | (25.00%) |
Appraisal Adjustment [Member] | Maximum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range | [1] | 0% | 0% |
Appraisal Adjustment [Member] | Weighted Average [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range | [1] | (22.80%) | (22.80%) |
Liquidation Expenses [Member] | Minimum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range | [2] | (8.50%) | (8.50%) |
Liquidation Expenses [Member] | Maximum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range | [2] | 0% | 0% |
Liquidation Expenses [Member] | Weighted Average [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Range | [2] | (7.70%) | (7.70%) |
[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. 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 | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | $ 311,890 | $ 310,264 |
Paycheck Protection Program loans receivable | 290 | 8,568 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 72,199 | 169,692 |
Securities available for sale | 311,890 | 310,264 |
Loans receivable, net of allowance | 1,169,816 | 1,096,555 |
Paycheck Protection Program loans receivable | 290 | 8,568 |
Restricted investments in bank stock | 995 | 1,424 |
Accrued interest receivable | 2,787 | 2,603 |
Deposits | 1,507,067 | 1,467,025 |
Securities sold under agreements to repurchase and federal funds purchased | 14,947 | 11,252 |
Long-term borrowings | 14,651 | |
Accrued interest payable | 517 | 652 |
Fair Value Estimate [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 72,199 | 169,692 |
Securities available for sale | 311,890 | 310,264 |
Loans receivable, net of allowance | 1,130,167 | 1,141,467 |
Paycheck Protection Program loans receivable | 258 | 8,163 |
Restricted investments in bank stock | 995 | 1,424 |
Accrued interest receivable | 2,787 | 2,603 |
Deposits | 1,503,812 | 1,467,938 |
Securities sold under agreements to repurchase and federal funds purchased | 14,947 | 11,252 |
Long-term borrowings | 14,665 | |
Accrued interest payable | 517 | 652 |
(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 | 72,199 | 169,692 |
(Level 2) Significant Other Observable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | 311,890 | 310,264 |
Restricted investments in bank stock | 995 | 1,424 |
Accrued interest receivable | 2,787 | 2,603 |
Deposits | 1,503,812 | 1,467,938 |
Securities sold under agreements to repurchase and federal funds purchased | 14,947 | 11,252 |
Accrued interest payable | 517 | 652 |
(Level 3) Significant Unobservable Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans receivable, net of allowance | 1,130,167 | 1,141,467 |
Paycheck Protection Program loans receivable | 258 | 8,163 |
Long-term borrowings | 14,665 | |
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 |