Penns Woods Bancorp (PWOD) 10-Q 9 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Nov. 01, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	0-17077
Entity Registrant Name	PENNS WOODS BANCORP INC
Entity Incorporation, State or Country Code	PA
Entity Address, Address Line One	300 Market Street, P.O. Box 967
Entity Tax Identification Number	23-2226454
Entity Address, City or Town	Williamsport
Entity Address, State or Province	PA
Postal Zip Code	17703-0967
City Area Code	570
Local Phone Number	322-1111
Title of 12(b) Security	Common stock, $5.55 par value
Trading Symbol	PWOD
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Other Identification Type	Yes
Entity Filer Category	Accelerated Filer
Smaller Reporting Company	true
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		7,051,783
Entity Central Index Key	0000716605
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEET (UNA

CONSOLIDATED BALANCE SHEET (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
ASSETS:
Noninterest-bearing balances	$ 34,987	$ 24,725
Interest-bearing balances in other financial institutions	191,285	23,864
Total cash and cash equivalents	226,272	48,589
Investment debt securities, available for sale, at fair value	149,675	148,619
Investment equity securities, at fair value	1,291	1,261
Investment securities, trading	35	51
Restricted investment in bank stock, at fair value	15,006	13,528
Loans held for sale	6,647	4,232
Loans	1,349,140	1,355,544
Allowance for loan losses	(13,429)	(11,894)
Loans, net	1,335,711	1,343,650
Premises and equipment, net	32,886	32,929
Accrued interest receivable	8,540	5,246
Bank-owned life insurance	33,474	29,253
Goodwill	17,104	17,104
Intangibles	724	898
Operating lease right-of-use asset	3,184	4,154
Deferred tax asset	3,409	3,338
Other assets	6,821	12,471
TOTAL ASSETS	1,840,779	1,665,323
LIABILITIES:
Interest-bearing deposits	1,057,562	989,259
Noninterest-bearing deposits	434,248	334,746
Total deposits	1,491,810	1,324,005
Short-term borrowings	15,009	4,920
Long-term borrowings	153,534	161,920
Accrued interest payable	1,491	1,671
Operating lease liability	3,219	4,170
Other liabilities	13,287	13,655
TOTAL LIABILITIES	1,678,350	1,510,341
SHAREHOLDERS’ EQUITY:
Preferred stock, no par value, 3,000,000 shares authorized; no shares issued	0	0
Common stock, par value 5.55, 22,500,000 shares authorized; 7,527,605 and 7,520,740 shares issued; 7,047,380 and 7,040,515 outstanding	41,820	41,782
Additional paid-in capital	52,268	51,487
Retained earnings	81,127	76,583
Accumulated other comprehensive loss:
Net unrealized gain on available for sale securities	4,440	2,455
Defined benefit plan	(5,118)	(5,232)
Treasury stock at cost, 480,225	(12,115)	(12,115)
TOTAL PENNS WOODS BANCORP, INC. SHAREHOLDERS' EQUITY	162,422	154,960
Non-controlling interest	7	22
TOTAL SHAREHOLDERS' EQUITY	162,429	154,982
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,840,779	$ 1,665,323

CONSOLIDATED BALANCE SHEET (U_2

CONSOLIDATED BALANCE SHEET (UNAUDITED) (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 5.55	$ 5.55
Common stock, shares authorized (in shares)	22,500,000	22,500,000
Common stock, shares issued (in shares)	7,527,605	7,520,740
Common stock, shares outstanding (in shares)	7,047,380	7,040,515
Treasury stock (in shares)	480,225	480,225

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
INTEREST AND DIVIDEND INCOME:
Loans, including fees	$ 14,080	$ 15,426	$ 43,403	$ 45,595
Investment securities:
Taxable	925	998	2,958	2,899
Tax-exempt	170	167	484	520
Dividend and other interest income	212	493	747	1,345
TOTAL INTEREST AND DIVIDEND INCOME	15,387	17,084	47,592	50,359
INTEREST EXPENSE:
Deposits	2,569	3,165	8,406	8,336
Short-term borrowings	8	7	37	790
Long-term borrowings	965	1,009	2,893	2,739
TOTAL INTEREST EXPENSE	3,542	4,181	11,336	11,865
NET INTEREST INCOME	11,845	12,903	36,256	38,494
PROVISION FOR LOAN LOSSES	645	360	2,040	1,035
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	11,200	12,543	34,216	37,459
NON-INTEREST INCOME:
Net debt securities gains, available for sale	1,013	189	1,220	200
Net equity securities (losses) gains	0	(21)	30	44
Net securities (losses) gains, trading	(2)	2	(16)	15
Bank-owned life insurance	156	143	492	434
Gain on sale of loans	1,449	583	2,921	1,246
Other	354	525	1,162	1,420
TOTAL NON-INTEREST INCOME	4,035	2,822	9,093	7,545
NON-INTEREST EXPENSE:
Salaries and employee benefits	5,465	5,488	16,362	16,512
Occupancy	599	638	1,927	2,085
Furniture and equipment	837	885	2,525	2,421
Software amortization	257	234	743	629
Pennsylvania shares tax	340	285	948	863
Professional fees	608	585	1,888	1,834
Federal Deposit Insurance Corporation deposit insurance	271	0	650	504
Marketing	61	98	170	233
Intangible amortization	53	62	174	202
Other	1,216	1,266	4,041	4,131
TOTAL NON-INTEREST EXPENSE	9,707	9,541	29,428	29,414
INCOME BEFORE INCOME TAX PROVISION	5,528	5,824	13,881	15,590
INCOME TAX PROVISION	1,051	1,170	2,563	2,741
CONSOLIDATED NET INCOME	4,477	4,654	11,318	12,849
Less: Net income attributable to noncontrolling interest	5	4	13	10
NET INCOME ATTRIBUTABLE TO PENNS WOODS BANCORP, INC.	$ 4,472	$ 4,650	$ 11,305	$ 12,839
Earnings per share - basic (in dollars per share)	$ 0.63	$ 0.66	$ 1.61	$ 1.82
Earnings per share - diluted (in dollars per share)	$ 0.63	$ 0.66	$ 1.61	$ 1.82
Weighted average shares outstanding - basic (in shares)	7,045,336	7,037,055	7,042,578	7,036,181
Weighted average shares outstanding - diluted (in shares)	7,045,336	7,037,055	7,042,578	7,036,181
Dividends declared per share (in dollars per share)	$ 0.32	$ 0.31	$ 0.96	$ 0.94
Service charges
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card fees	$ 388	$ 622	$ 1,249	$ 1,776
Insurance commissions
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card fees	101	93	320	346
Brokerage commissions
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card fees	224	353	779	1,032
Debit card income
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card fees	$ 352	$ 333	$ 936	$ 1,032

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 4,472	$ 4,650	$ 11,305	$ 12,839
Other comprehensive income:
Change in unrealized gain on available for sale securities	1,324	1,261	3,733	6,056
Tax effect	(278)	(265)	(784)	(1,272)
Net realized gain on available for sale securities included in net income	(1,013)	(189)	(1,220)	(200)
Tax effect	213	40	256	42
Amortization of unrecognized pension gain	52	46	144	140
Tax effect	(11)	(9)	(30)	(29)
Total other comprehensive income	287	884	2,099	4,737
Comprehensive income	$ 4,759	$ 5,534	$ 13,404	$ 17,576

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	COMMON STOCK	ADDITIONAL PAID-IN CAPITAL	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE LOSS	TREASURY STOCK	NON-CONTROLLING INTEREST
Beginning balance (in shares) at Dec. 31, 2018		7,517,547
Beginning balance at Dec. 31, 2018	$ 143,544	$ 41,763	$ 50,737	$ 69,787	$ (6,636)	$ (12,115)	$ 8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,849			12,839			10
Other comprehensive income	4,737				4,737
Stock-based compensation	498		498
Dividends declared	(6,617)			(6,617)
Common shares issued for employee stock purchase plan (in shares)		2,579
Common shares issued for employee stock purchase plan	69	$ 14	55
Stock split fractional shares (in shares)		(2,330)
Stock split fractional shares	(19)
Ending balance (in shares) at Sep. 30, 2019		7,517,796
Ending balance at Sep. 30, 2019	155,061	$ 41,758	51,290	76,009	(1,899)	(12,115)	18
Beginning balance (in shares) at Jun. 30, 2019		7,519,344
Beginning balance at Jun. 30, 2019	151,521	$ 41,773	51,067	73,565	(2,783)	(12,115)	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4,654			4,650			4
Other comprehensive income	884				884
Stock-based compensation	185		185
Dividends declared	(2,206)			(2,206)
Common shares issued for employee stock purchase plan (in shares)		782
Common shares issued for employee stock purchase plan	42	$ 4	38
Stock split fractional shares (in shares)		(2,330)
Stock split fractional shares	(19)
Ending balance (in shares) at Sep. 30, 2019		7,517,796
Ending balance at Sep. 30, 2019	155,061	$ 41,758	51,290	76,009	(1,899)	(12,115)	18
Beginning balance (in shares) at Dec. 31, 2019		7,520,740
Beginning balance at Dec. 31, 2019	154,982	$ 41,782	51,487	76,583	(2,777)	(12,115)	22
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11,318			11,305			13
Other comprehensive income	2,099				2,099
Stock-based compensation	675		675
Dividends declared	(6,761)			(6,761)
Common shares issued for employee stock purchase plan (in shares)		2,888
Common shares issued for employee stock purchase plan	64	$ 16	48
Director Compensation Plan	80	$ 22	58
Director Compensation Plan (in shares)		3,977
Distributions to noncontrolling interest	(28)						(28)
Ending balance (in shares) at Sep. 30, 2020		7,527,605
Ending balance at Sep. 30, 2020	162,429	$ 41,820	52,268	81,127	(678)	(12,115)	7
Beginning balance (in shares) at Jun. 30, 2020		7,522,573
Beginning balance at Jun. 30, 2020	159,608	$ 41,792	51,956	78,910	(965)	(12,115)	30
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4,477			4,472			5
Other comprehensive income	287				287
Stock-based compensation	239		239
Dividends declared	(2,255)			(2,255)
Common shares issued for employee stock purchase plan (in shares)		1,055
Common shares issued for employee stock purchase plan	21	$ 6	15
Director Compensation Plan	80	$ 22	58
Director Compensation Plan (in shares)		3,977
Distributions to noncontrolling interest	(28)						(28)
Ending balance (in shares) at Sep. 30, 2020		7,527,605
Ending balance at Sep. 30, 2020	$ 162,429	$ 41,820	$ 52,268	$ 81,127	$ (678)	$ (12,115)	$ 7

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in dollars per share)	$ 0.32	$ 0.31	$ 0.96	$ 0.94

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
OPERATING ACTIVITIES:
Net Income	$ 11,318	$ 12,849
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,310	1,904
Gain on sale of premise and equipment	(14)	0
Amortization of intangible assets	174	202
Provision for loan losses	2,040	1,035
Stock based compensation	675	498
Accretion and amortization of investment security discounts and premiums	382	499
Net securities gains, available for sale	(1,220)	(200)
Originations of loans held for sale	(95,661)	(41,601)
Proceeds of loans held for sale	96,167	43,908
Gain on sale of loans	(2,921)	(1,246)
Net equity securities gains	(30)	(44)
Net securities losses (gains), trading	16	(15)
Proceeds from the sale of trading securities	0	78
Purchases of trading securities	0	(74)
Earnings on bank-owned life insurance	(492)	(434)
(Increase) decrease in deferred tax asset	(599)	180
Other, net	2,756	(1,766)
Net cash provided by operating activities	14,901	15,773
INVESTING ACTIVITIES:
Proceeds from sales of available for sale securities	37,252	16,289
Proceeds from calls and maturities of available for sale securities	567	3,089
Purchases of available for sale securities	(35,524)	(28,611)
Net decrease in loans	5,692	18,625
Acquisition of premises and equipment	(2,830)	(1,798)
Proceeds from the sale of premises and equipment	336	0
Proceeds from the sale of foreclosed assets	226	502
Purchase of bank-owned life insurance	(3,970)	(30)
Proceeds from bank-owned life insurance death benefit	248	0
Investment in limited partnership	(628)	0
Proceeds from redemption of regulatory stock	2,881	13,659
Purchases of regulatory stock	(4,359)	(8,299)
Net cash (used for) provided by investing activities	(109)	13,426
FINANCING ACTIVITIES:
Net increase in interest-bearing deposits	68,303	105,989
Net increase in noninterest-bearing deposits	99,502	6,515
Proceeds from long-term borrowings	35,000	50,000
Repayment of long-term borrowings	(43,333)	(32,608)
Net increase (decrease) in short-term borrowings	10,089	(161,878)
Finance lease principal payments	(53)	(70)
Dividends paid	(6,761)	(6,617)
Issuance of common stock	144	69
Net cash provided by (used for) financing activities	162,891	(38,600)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	177,683	(9,401)
CASH AND CASH EQUIVALENTS, BEGINNING	48,589	66,742
CASH AND CASH EQUIVALENTS, ENDING	226,272	57,341
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid	11,516	11,349
Income taxes paid	2,375	3,125
Non-cash investing and financing activities:
Right-of-use lease assets obtained in exchange for lessee finance lease liabilities	0	6,026
Right-of-use lease assets obtained in exchange for lessee operating lease liabilities	0	4,298
Transfer of loans to foreclosed real estate	$ 207	$ 525

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements include the accounts of Penns Woods Bancorp, Inc. (the “Company”) and its wholly-owned subsidiaries: Woods Investment Company, Inc., Woods Real Estate Development Company, Inc., Luzerne Bank, and Jersey Shore State Bank (Jersey Shore State Bank and Luzerne Bank are referred to together as the “Banks”) and Jersey Shore State Bank’s wholly-owned subsidiary, The M Group, Inc. D/B/A The Comprehensive Financial Group (“The M Group”). The Company also owns a controlling interest in United Insurance Solutions, LLC. All significant inter-company balances and transactions have been eliminated in the consolidation. The interim financial statements are unaudited, but in the opinion of management reflect all adjustments necessary for the fair presentation of results for such periods. The results of operations for any interim period are not necessarily indicative of results for the full year. These financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. In reference to the attached financial statements, all adjustments are of a normal recurring nature pursuant to Rule 10-01(b) (8) of Regulation S-X.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Gain (loss)	9 Months Ended
	Sep. 30, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Accumulated Other Comprehensive Gain (loss)	Accumulated Other Comprehensive Gain (loss) The changes in accumulated other comprehensive gain (loss) by component shown net of tax and parenthesis indicating debits, as of September 30, 2020 and 2019 were as follows: Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 (In Thousands) Net Unrealized Gain on Available Defined Total Net Unrealized Defined Total Beginning balance $ 4,194 $ (5,159) $ (965) $ 2,419 $ (5,202) $ (2,783) Other comprehensive gain before reclassifications 1,046 — 1,046 996 — 996 Amounts reclassified from accumulated other comprehensive (loss) gain (800) 41 (759) (149) 37 (112) Net current-period other comprehensive income 246 41 287 847 37 884 Ending balance $ 4,440 $ (5,118) $ (678) $ 3,266 $ (5,165) $ (1,899) Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 (In Thousands) Net Unrealized Gain on Available for Sale Securities Defined Total Net Unrealized Gain on Available Defined Total Beginning balance $ 2,455 $ (5,232) $ (2,777) $ (1,360) $ (5,276) $ (6,636) Other comprehensive gain before reclassifications 2,949 — 2,949 4,784 — 4,784 Amounts reclassified from accumulated other comprehensive (loss) gain (964) 114 (850) (158) 111 (47) Net current-period other comprehensive income 1,985 114 2,099 4,626 111 4,737 Ending balance $ 4,440 $ (5,118) $ (678) $ 3,266 $ (5,165) $ (1,899) The reclassifications out of accumulated other comprehensive loss shown, net of tax and parenthesis indicating debits to net income, as of September 30, 2020 and 2019 were as follows: Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Net unrealized gain on available for sale securities $ 1,013 $ 189 Net debt securities gains (losses), available for sale Income tax effect (213) (40) Income tax provision Total reclassifications for the period $ 800 $ 149 Net unrecognized pension costs $ (52) $ (46) Salaries and employee benefits Income tax effect 11 9 Income tax provision Total reclassifications for the period $ (41) $ (37) Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item Nine months ended September 30, 2020 Nine months ended September 30, 2019 Net unrealized gain on available for sale securities $ 1,220 $ 200 Net debt securities gains, available for sale Income tax effect (256) (42) Income tax provision Total reclassifications for the period $ 964 $ 158 Net unrecognized pension costs $ (144) $ (140) Salaries and employee benefits Income tax effect 30 29 Income tax provision Total reclassifications for the period $ (114) $ (111)

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2020
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments , which changes the impairment model for most financial assets. This Update is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The underlying premise of the Update is that financial assets measured at amortized cost should be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The income statement will be effected for the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. With certain exceptions, transition to the new requirements will be through a cumulative-effect adjustment to opening retained earnings as of the beginning of the first reporting period in which the guidance is adopted. In November 2019, the FASB issued ASU 2019-10, Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) . This Update defers the effective date of ASU 2016-13 for SEC filers that are eligible to be smaller reporting companies, non-SEC filers, and all other companies, to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. We expect to recognize a one-time cumulative-effect adjustment to the allowance for loan losses as of the beginning of the first reporting period in which the new standard is effective but cannot yet determine the magnitude of any such one-time adjustment or the overall impact of the new guidance on the consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment . To simplify the subsequent measurement of goodwill, the FASB eliminated Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In November 2019, the FASB issued ASU 2019-10, Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) , which deferred the effective date for ASC 350, Intangibles – Goodwill and Other , for smaller reporting companies to fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. This Update is not expected to have a significant impact on the Company’s financial statements. In August 2018, the FASB issued ASU 2018-14, Compensation – Retirement Benefits (Topic 715-20). This Update amends ASC 715 to add, remove, and clarify disclosure requirements related to defined benefit pension and other postretirement plans. The Update eliminates the requirement to disclose the amounts in accumulated other comprehensive income expected to be recognized as part of net periodic benefit cost over the next year. The Update also removes the disclosure requirements for the effects of a one percentage point change on the assumed health care costs and the effect of this change in rates on service cost, interest cost, and the benefit obligation for postretirement health care benefits. This Update is effective for public business entities for fiscal years ending after December 15, 2020, and must be applied on a retrospective basis. For all other entities, this Update is effective for fiscal years ending after December 15, 2021. This Update is not expected to have a significant impact on the Company’s financial statements. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Derivatives and Hedging (Topic 815), and Financial Instruments (Topic 825), which affects a variety of topics in the Codification and applies to all reporting entities within the scope of the affected accounting guidance. Topic 326 , Financial Instruments – Credit Losses , amendments are effective for SEC registrants for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. For all other public business entities, the effective date is for fiscal years beginning after December 15, 2020, and for all other entities, the effective date is for fiscal years beginning after December 15, 2021. Topic 815 , Derivatives and Hedging , amendments are effective for public business entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods beginning after December 15, 2020. For entities that have adopted the amendments in Update 2017-12, the effective date is as of the beginning of the first annual period beginning after the issuance of this Update. Topic 825 , Financial Instruments , amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years. In November 2019, the FASB issued ASU 2019-10, Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) . This Update defers the effective date of ASU 2016-13 for SEC filers that are eligible to be smaller reporting companies, non-SEC filers, and all other companies, to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Furthermore, the ASU provides a one-year deferral of the effective dates of the ASUs on derivatives and hedging for companies that are not public business entities. The Company qualifies as a smaller reporting company and does not expect to early adopt these ASUs. In May 2019, the FASB issued ASU 2019-05, Financial Instruments – Credit Losses (Topic 326) , which allows entities to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost upon adoption of the new credit losses standard. To be eligible for the transition election, the existing financial asset must otherwise be both within the scope of the new credit losses standard and eligible for applying the fair value option in ASC 825-10.3. The election must be applied on an instrument-by-instrument basis and is not available for either available-for-sale or held-to-maturity debt securities. For entities that elect the fair value option, the difference between the carrying amount and the fair value of the financial asset would be recognized through a cumulative-effect adjustment to opening retained earnings as of the date an entity adopted ASU 2016-13. Changes in fair value of that financial asset would subsequently be reported in current earnings. For entities that have not yet adopted ASU 2016-13, the effective dates and transition requirements are the same as those in ASU 2016-13. For entities that have adopted ASU 2016-13, ASU 2019-05 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted once ASU 2016-13 has been adopted. In November 2019, the FASB issued ASU 2019-10, Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) . The Update defers the effective date of ASU 2016-13 for SEC filers that are eligible to be smaller reporting companies, non-SEC filers, and all other companies, to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company qualifies as a smaller reporting company and does not expect to early adopt ASU 2016-13. In November 2019, the FASB issued ASU 2019-09, Financial Services ‒ Insurance (Topic 944) , which defers the effective date of the amendments in Update 2018-12, Financial Services ‒ Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts . For public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies, as defined by the SEC, the amendments in Update 2018-12 are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early application of the amendments in Update 2018-12 is permitted. For all other entities, the amendments in Update 2018-12 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early application of the amendments in Update 2018-12 is permitted. This Update is not expected to have a significant impact on the Company’s financial statements. In November 2019, the FASB issued ASU 2019-10, Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) . The Update defers the effective dates of ASU 2016-13 for SEC filers that are eligible to be smaller reporting companies, non-SEC filers, and all other companies, to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. This Update also amends the mandatory effective date for the elimination of Step 2 from the goodwill impairment test under ASU No. 2017-04, Intangibles ‒ Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (Goodwill) , to align with those used for credit losses. Furthermore, the ASU provides a one-year deferral of the effective dates of the ASUs on derivatives and hedging and leases for companies that are not public business entities. The Company qualifies as a smaller reporting company and does not expect to early adopt these ASUs. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses , to clarify its new credit impairment guidance in ASC 326, based on implementation issues raised by stakeholders. This Update clarified, among other things, that expected recoveries are to be included in the allowance for credit losses for these financial assets; an accounting policy election can be made to adjust the effective interest rate for existing troubled debt restructurings based on the prepayment assumptions instead of the prepayment assumptions applicable immediately prior to the restructuring event; and extends the practical expedient to exclude accrued interest receivable from all additional relevant disclosures involving amortized cost basis. The effective dates in this Update are the same as those applicable for ASU 2019-10. The Company qualifies as a smaller reporting company and does not expect to early adopt these ASUs. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) , to simplify the accounting for income taxes, change the accounting for certain tax transactions, and make minor improvements to the codification. This Update provides a policy election to not allocate consolidated income taxes when a member of a consolidated tax return is not subject to income tax and provides guidance to evaluate whether a step-up in tax basis of goodwill relates to a business combination in which book goodwill was recognized or was a separate transaction. The Update also changes current guidance for making an intraperiod allocation if there is a loss in continuing operations and gains outside of continuing operations, determining when a deferred tax liability is recognized after an investor in a foreign entity transitions to or from the equity method of accounting, accounting for tax law changes and year-to-date losses in interim periods, and determining how to apply the income tax guidance to franchise taxes that are partially based on income. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. This Update is not expected to have a significant impact on the Company’s financial statements. In January 2020, the FASB issued ASU 2020-1, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) , to clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting, for the purposes of applying the measurement alternative, in accordance with Topic 321, immediately before applying or upon discontinuing the equity method. The amendments also clarify that, for the purpose of applying paragraph 815-10-15-141 (a), an entity should not consider whether, upon the settlement of the forward contract or exercise of the purchased option, individually or with existing investments, the underlying securities would be accounted for under the equity method in Topic 323 or the fair value option, in accordance with the financial instruments guidance in Topic 825. An entity also would evaluate the remaining characteristics in paragraph 815-10-15-141 to determine the accounting for those forward contracts and purchased options. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. This Update is not expected to have a significant impact on the Company’s financial statements. In January 2020, the FASB issued ASU 2020-2, Financial Instruments – Credit Losses (Topic 326) and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842), February 2020 , to add and amend SEC paragraphs in the Accounting Standards Codification to reflect the issuance of SEC Staff Accounting Bulletin No. 119, related to the new credit losses standard, and comments by the SEC staff related to the revised effective date of the new leases standard. This ASU is effective upon issuance. This did not have a significant impact on the Company’s financial statements. In March 2020, the FASB issued ASU 2020-3 , Codification Improvements to Financial Instruments. This ASU was issued to improve and clarify various financial instruments topics, including the current expected credit losses (CECL) standard issued in 2016. The ASU includes seven issues that describe the areas of improvement and the related amendments to GAAP; they are intended to make the standards easier to understand and apply and to eliminate inconsistencies, and they are narrow in scope and are not expected to significantly change practice for most entities. Among its provisions, the ASU clarifies that all entities, other than public business entities that elected the fair value option, are required to provide certain fair value disclosures under ASC 825, Financial Instruments , in both interim and annual financial statements. It also clarifies that the contractual term of a net investment in a lease under Topic 842 should be the contractual term used to measure expected credit losses under Topic 326. Amendments related to ASU 2019-04 are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is not permitted before an entity’s adoption of ASU 2016-01. Amendments related to ASU 2016-13 for entities that have not yet adopted that guidance are effective upon adoption of the amendments in ASU 2016-13. Early adoption is not permitted before an entity’s adoption of ASU 2016-13. Amendments related to ASU 2016-13 for entities that have adopted that guidance are effective for fiscal years beginning after December 15, 2019, including interim periods within those years. Other amendments are effective upon issuance of this ASU. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations In January 2020, the FASB issued ASU 2020-4, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, March 2020 , to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Also, entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met, and can make a one-time election to sell and/or reclassify held-to-maturity debt securities that reference an interest rate affected by reference rate reform. The amendments in this ASU are effective for all entities upon issuance through December 31, 2022. It is too early to predict whether a new rate index replacement and the adoption of the ASU will have a material impact on the Company’s financial statements. In August 2020, the FASB issued ASU 2020-6, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) , which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. This ASU removes from U.S. GAAP the separation models for (1) convertible debt with a cash conversion feature and (2) convertible instruments with a beneficial conversion feature. As a result, entities will not separately present in equity an embedded conversion feature in such debt. Instead, they will account for a convertible debt instrument wholly as debt, and for convertible preferred stock wholly as preferred stock (i.e., as a single unit of account), unless (1) a convertible instrument contains features that require bifurcation as a derivative under ASC 815 or (2) a convertible debt instrument was issued at a substantial premium. This ASU requires entities to provide expanded disclosures about the terms and features of convertible instruments, how the instruments have been reported in the entity’s financial statements, and information about events, conditions, and circumstances that can affect how to assess the amount or timing of an entity’s future cash flows related to those instruments. The amendments in this ASU are effective for public business entities that are not smaller reporting companies, for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. For all other entities, this ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The guidance may be early adopted for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. This Update is not expected to have a significant impact on the Company’s financial statements.

Per Share Data

Per Share Data	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Per Share Data	Per Share Data There are no convertible securities which would affect the denominator in calculating basic and dilutive earnings per share. There were a total of 864,300 stock options, with an average exercise price of $28.20, outstanding on September 30, 2020. These options were excluded, on a weighted average basis, in the computation of diluted earnings per share for the three and nine month periods due to the average market price of common shares of $20.84 and $24.20, respectively, exceeding the exercise price of the options issued. There were a total of 635,550 stock options outstanding for the same period end in 2019 that had an average exercise price of $29.30 and were excluded, on a weighted average basis, in the computation of diluted earnings per share because the quarterly average closing market price of common shares was $28.44 for the period. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Weighted average common shares issued 7,525,561 7,517,280 7,522,803 7,516,406 Weighted average treasury stock shares (480,225) (480,225) (480,225) (480,225) Weighted average common shares outstanding - basic 7,045,336 7,037,055 7,042,578 7,036,181 Dilutive effect of outstanding stock options — — — — Weighted average common shares outstanding - basic and diluted 7,045,336 7,037,055 7,042,578 7,036,181

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities The amortized cost, gross unrealized gains and losses, and fair values of our investment securities portfolio at September 30, 2020 and December 31, 2019 are as follows: September 30, 2020 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): Mortgage-backed securities $ 2,267 $ 25 $ — $ 2,292 State and political securities 84,873 5,136 (13) 89,996 Other debt securities 56,915 969 (497) 57,387 Total debt securities $ 144,055 $ 6,130 $ (510) $ 149,675 Investment equity securities: Other equity securities $ 1,300 $ 11 $ (20) $ 1,291 Trading: Other equity securities $ 50 $ — $ (15) $ 35 December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): Mortgage-backed securities $ 4,956 $ 56 $ (46) $ 4,966 State and political securities 79,064 3,299 (77) 82,286 Other debt securities 61,492 401 (526) 61,367 Total debt securities $ 145,512 $ 3,756 $ (649) $ 148,619 Investment equity securities: Other equity securities $ 1,300 $ — $ (39) $ 1,261 Trading: Other equity securities $ 50 $ 3 $ (2) $ 51 The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time, that the individual debt securities have been in a continuous unrealized loss position, at September 30, 2020 and December 31, 2019. September 30, 2020 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) Value Losses Value Losses Value Losses Available for sale (AFS): Mortgage-backed securities $ — $ — $ — $ — $ — $ — State and political securities 4,179 (6) 904 (7) 5,083 (13) Other debt securities 9,682 (260) 3,271 (237) 12,953 (497) Total debt securities $ 13,861 $ (266) $ 4,175 $ (244) $ 18,036 $ (510) December 31, 2019 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) Value Losses Value Losses Value Losses Available for sale (AFS): Mortgage-backed securities $ — $ — $ 2,115 $ (46) $ 2,115 $ (46) State and political securities 7,958 (40) 224 (37) 8,182 (77) Other debt securities 13,373 (216) 14,258 (310) 27,631 (526) Total debt securities $ 21,331 $ (256) $ 16,597 $ (393) $ 37,928 $ (649) At September 30, 2020, there were a total of 18 securities in a continuous unrealized loss position for less than twelve months and 4 individual securities that were in a continuous unrealized loss position for twelve months or greater. The Company reviews its position quarterly and has determined that, at September 30, 2020, the declines outlined in the above table represent temporary declines and the Company does not intend to sell and does not believe it will be required to sell these securities before recovery of their cost basis, which may be at maturity. The Company has concluded that the unrealized losses disclosed above are not other than temporary but are the result of interest rate changes, sector credit ratings changes, or company-specific ratings changes that are not expected to result in the non-collection of principal and interest during the period. The amortized cost and fair value of debt securities at September 30, 2020, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities since borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (In Thousands) Amortized Cost Fair Value Due in one year or less $ 10,744 $ 10,812 Due after one year to five years 66,984 68,131 Due after five years to ten years 56,013 60,132 Due after ten years 10,314 10,600 Total $ 144,055 $ 149,675 Total gross proceeds from sales of debt securities available for sale for the three and nine months ended September 30, 2020 were $32,089,000 and $37,252,000 respectively, compared to 2019 totals of $8,157,000 and 16,289,000. The following table represents gross realized gains and losses from the sales of debt securities available for sale: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2020 2019 2020 2019 Available for sale (AFS): Gross realized gains: Mortgage-backed securities $ — $ — $ 83 $ — State and political securities 839 190 943 204 Other debt securities 174 — 194 4 Total gross realized gains $ 1,013 $ 190 $ 1,220 $ 208 Gross realized losses: State and political securities $ — $ 1 $ — $ 3 Other debt securities — — — 5 Total gross realized losses $ — $ 1 $ — $ 8 There were no impairment charges included in gross realized losses for the three and nine months ended September 30, 2020 and 2019, respectively. Investment securities with a carrying value of approximately $124,542,000 and $74,163,000 at September 30, 2020 and December 31, 2019, respectively, were pledged to secure certain deposits, repurchase agreements, and for other purposes as required by law. At September 30, 2020 and December 31, 2019, we had $1,291,000 and $1,261,000, respectively, in equity securities recorded at fair value. The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2020 2019 2020 2019 Net gains (losses) recognized in equity securities during the period( $ — $ (21) $ 30 $ 44 Less: Net gains realized on the sale of equity securities during the period — — — — Unrealized gains recognized in equity securities held at reporting date $ — $ (21) $ 30 $ 44 Net gains and losses on trading account securities are as follows for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2020 2019 2020 2019 Net gains on sale transactions $ — $ — $ — $ 8 Net mark-to-market (losses) gains (2) 2 (16) 7 Net (loss) gain on trading account securities $ (2) $ 2 $ (16) $ 15

Loans

Loans	9 Months Ended
	Sep. 30, 2020
Loans and Leases Receivable Disclosure [Abstract]
Loans	Loans Management segments the Banks' loan portfolio to a level that enables risk and performance monitoring according to similar risk characteristics. Loans are segmented based on the underlying collateral characteristics. Categories include commercial, financial, and agricultural, real estate, and installment loans. Real estate loans are further segmented into three categories: residential, commercial, and construction, while installment loans are classified as either consumer automobile loans or other installment loans. The following table presents the related aging categories of loans, by segment, as of September 30, 2020 and December 31, 2019: September 30, 2020 Past Due Past Due 90 30 To 89 Days Or More Non- (In Thousands) Current Days & Still Accruing Accrual Total Commercial, financial, and agricultural $ 171,344 $ 245 $ — $ 1,565 $ 173,154 Real estate mortgage: Residential 590,275 2,581 595 1,667 595,118 Commercial 348,644 429 196 6,452 355,721 Construction 43,142 — — 58 43,200 Consumer automobile loans 159,810 374 — 17 160,201 Other consumer installment loans 20,294 373 — 3 20,670 1,333,509 $ 4,002 $ 791 $ 9,762 1,348,064 Net deferred loan fees and discounts 1,076 1,076 Allowance for loan losses (13,429) (13,429) Loans, net $ 1,321,156 $ 1,335,711 December 31, 2019 Past Due Past Due 90 30 To 89 Days Or More Non- (In Thousands) Current Days & Still Accruing Accrual Total Commercial, financial, and agricultural $ 153,737 $ 249 $ 30 $ 2,197 $ 156,213 Real estate mortgage: Residential 615,580 4,881 1,529 1,266 623,256 Commercial 355,597 775 164 6,725 363,261 Construction 37,871 131 — 65 38,067 Consumer automobile loans 149,703 709 — 105 150,517 Other consumer installment loans 22,124 579 324 16 23,043 1,334,612 $ 7,324 $ 2,047 $ 10,374 1,354,357 Net deferred loan fees and discounts 1,187 1,187 Allowance for loan losses (11,894) (11,894) Loans, net $ 1,323,905 $ 1,343,650 The following table presents interest income the Banks would have recorded if interest had been recorded based on the original loan agreement terms and rate of interest for non-accrual loans and interest income recognized on a cash basis for non-accrual loans for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 2019 (In Thousands) Interest Income That Interest Interest Income That Interest Commercial, financial, and agricultural $ 2 $ 14 $ 51 $ 49 Real estate mortgage: Residential 14 2 76 76 Commercial 52 — 68 30 Construction — — 1 1 Consumer automobile loans — — — — Other consumer installment loans — — 1 1 $ 68 $ 16 $ 197 $ 157 Nine Months Ended September 30, 2020 2019 (In Thousands) Interest Income That Interest Interest Income That Interest Commercial, financial, and agricultural $ 37 $ 14 $ 108 $ 132 Real estate mortgage: Residential 27 2 142 118 Commercial 116 — 233 104 Construction 1 — 3 3 Consumer automobile loans 2 3 3 2 Other consumer installment loans 3 — 2 1 $ 186 $ 19 $ 491 $ 360 Impaired Loans Impaired loans are loans for which it is probable the Banks will not be able to collect all amounts due according to the contractual terms of the loan agreement. The Banks individually evaluate such loans for impairment and do not aggregate loans by major risk classifications. The definition of “impaired loans” is not the same as the definition of “non-accrual loans,” although the two categories overlap. The Banks may choose to place a loan on non-accrual status due to payment delinquency or uncertain collectability, while not classifying the loan as impaired. Factors considered by management in determining impairment include payment status and collateral value. The amount of impairment for these types of loans is determined by the difference between the present value of the expected cash flows related to the loan, using the original interest rate, and its recorded value, or as a practical expedient in the case of collateralized loans, the difference between the fair value of the collateral and the recorded amount of the loan. When foreclosure is probable, impairment is measured based on the fair value of the collateral. Management evaluates individual loans in all of the commercial segments for possible impairment if the loan is greater than $100,000 and if the loan is either on non-accrual status or has a risk rating of substandard or worse. Management may also elect to measure an individual loan for impairment if less than $100,000 on a case-by-case basis. Mortgage loans on one-to-four family properties and all consumer loans are large groups of smaller-balance homogeneous loans and are measured for impairment collectively with the exception of loans identified as troubled debt restructurings. Loans that experience insignificant payment delays, which are defined as 90 days or less, generally are not classified as impaired. Management determines the significance of payment delays on a case-by-case basis taking into consideration all circumstances surrounding the loan and the borrower including the length of the delay, the borrower’s prior payment record, and the amount of shortfall in relation to the principal and interest owed. Interest income for impaired loans is recorded consistent to the Banks' policy. The following table presents the recorded investment, unpaid principal balance, and related allowance of impaired loans by segment as of September 30, 2020 and December 31, 2019: September 30, 2020 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 1,820 $ 4,607 $ — Real estate mortgage: Residential 4,305 4,305 — Commercial 4,113 4,113 — Construction 60 60 — Consumer automobile loans — — — Installment loans to individuals — — — 10,298 13,085 — With an allowance recorded: Commercial, financial, and agricultural 15 15 — Real estate mortgage: Residential 1,272 1,272 187 Commercial 3,092 3,092 920 Construction — — — Consumer automobile loans — — — Installment loans to individuals — — — 4,379 4,379 1,107 Total: Commercial, financial, and agricultural 1,835 4,622 — Real estate mortgage: Residential 5,577 5,577 187 Commercial 7,205 7,205 920 Construction 60 60 — Consumer automobile loans — — — Installment loans to individuals — — — $ 14,677 $ 17,464 $ 1,107 December 31, 2019 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 2,285 $ 5,072 $ — Real estate mortgage: Residential 5,008 5,008 — Commercial 5,035 5,035 — Construction 65 65 — Consumer automobile loans — — — Installment loans to individuals — — — 12,393 15,180 — With an allowance recorded: Commercial, financial, and agricultural — — — Real estate mortgage: Residential 1,168 1,200 211 Commercial 3,540 3,590 1,104 Construction — — — Consumer automobile loans 130 130 62 Installment loans to individuals 16 16 16 4,854 4,936 1,393 Total: Commercial, financial, and agricultural 2,285 5,072 — Real estate mortgage: Residential 6,176 6,208 211 Commercial 8,575 8,625 1,104 Construction 65 65 — Consumer automobile loans 130 130 62 Installment loans to individuals 16 16 16 $ 17,247 $ 20,116 $ 1,393 The following table presents the average recorded investment in impaired loans and related interest income recognized for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 2019 (In Thousands) Average Interest Income Interest Income Average Interest Income Interest Income Commercial, financial, and agricultural $ 1,543 $ 33 $ 14 $ 5,236 $ 1 $ 49 Real estate mortgage: Residential 5,117 63 2 5,006 26 76 Commercial 6,587 71 — 9,037 30 31 Construction 54 1 — 70 — 1 Consumer automobile 147 — — 37 — — Other consumer installment loans — — — 5 — — $ 13,448 $ 168 $ 16 $ 19,391 $ 57 $ 157 Nine Months Ended September 30, 2020 2019 (In Thousands) Average Interest Income Interest Income Average Interest Income Interest Income Commercial, financial, and agricultural $ 1,849 $ 34 $ 14 $ 5,269 $ 3 $ 131 Real estate mortgage: Residential 5,535 177 2 4,584 81 115 Commercial 7,577 118 — 10,053 91 100 Construction 60 1 — 72 — 3 Consumer automobile 111 1 3 45 — 1 Other consumer installment loans 4 — — 11 — — $ 15,136 $ 331 $ 19 $ 20,034 $ 175 $ 350 Troubled Debt Restructurings The loan portfolio also includes certain loans that have been modified in a Troubled Debt Restructuring (“TDR”), where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance, or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months. There were no loan modifications considered to be TDRs completed during the three and nine months ended September 30, 2020. There were five loan modifications considered TDRs completed during the nine months ended September 30, 2019. Loan modifications that are considered TDRs completed during the three and nine months ended September 30, 2019 were as follows: Three Months Ended September 30, 2019 (In Thousands, Except Number of Contracts) Number Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial, financial, and agricultural — $ — $ — Real estate mortgage: Residential 1 2,059 2,059 Commercial — — — 1 $ 2,059 $ 2,059 Nine Months Ended September 30, 2019 (In Thousands, Except Number of Contracts) Number Pre-Modification Post-Modification Commercial, financial, and agricultural 2 $ 4,014 $ 4,014 Real estate mortgage: Residential 1 2,059 2,059 Commercial 2 2,862 2,862 5 $ 8,935 $ 8,935 There were two loan modifications considered to be TDRs made during the twelve months previous to September 30, 2020 that defaulted during the nine months ended September 30, 2020. The defaulted loan types and recorded investments at September 30, 2020 are as follows: one commercial real estate loan with a recorded investment of $1,040,000, and one commercial and agricultural loans with a recorded investment of $640,000. There were no loan modifications considered to be TDRs made during the twelve months previous to September 30, 2019 that defaulted during the nine months ended September 30, 2019. Troubled debt restructurings amounted to $12,218,000 and $13,282,000 as of September 30, 2020 and December 31, 2019, respectively. The amount of foreclosed residential real estate held at September 30, 2020 and December 31, 2019, totaled $376,000 and $493,000, respectively. Consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process at September 30, 2020 and December 31, 2019, totaled $446,000 and $32,000, respectively. The Company began offering short-term loan modifications to provide relief to borrowers during the COVID-19 national emergency. The CARES Act along with a joint agency statement issued by federal and state banking agencies, provides that short-term modifications made in a good faith basis in response to COVID-19 who were current at the time the modification program is implemented do not need to be accounted for as TDRs. Loan modifications and payment deferrals have been at historical high levels as the impact of the pandemic continues. As of September 30, 2020, the loan modification/deferral program in place has generated deferrals of up to 180 days that have been granted on 1,530 loans with 1,395 loans remaining in their deferral period with an aggregate outstanding balance of $230,326,000. These loan modifications met applicable requirements to not be considered troubled debt restructurings. The number of customers seeking loan modifications or payment deferrals may increase as the effects of the pandemic continue. Internal Risk Ratings Management uses a ten point internal risk rating system to monitor the credit quality of the overall loan portfolio. The first six categories are considered not criticized, and are aggregated as “Pass” rated. The criticized rating categories utilized by management generally follow bank regulatory definitions. The special mention category includes assets that are currently protected but are potentially weak, resulting in an undue and unwarranted credit risk, but not to the point of justifying a substandard classification. Loans in the substandard category have well-defined weaknesses that jeopardize the liquidation of the debt, and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. All loans greater than 90 days past due are evaluated for substandard classification. Loans in the doubtful category exhibit the same weaknesses found in the substandard loans, however, the weaknesses are more pronounced. Such loans are static and collection in full is improbable. However, these loans are not yet rated as loss because certain events may occur which would salvage the debt. Loans classified loss are considered uncollectible and charge-off is imminent. To help ensure that risk ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Banks have a structured loan rating process with several layers of internal and external oversight. Generally, consumer and residential mortgage loans are included in the pass category unless a specific action, such as bankruptcy, repossession, or death occurs to raise awareness of a possible credit event. An external semi-annual loan review of large commercial relationships is performed, as well as a sample of smaller transactions. The 2020 loan review has an aggregate commercial relationship threshold of $1,750,000 which can consist of outstanding loans, commercial real estate mortgages and outstanding commitments. Detailed reviews, including plans for resolution, are performed on loans classified as substandard, doubtful, or loss on a quarterly basis. The following table presents the credit quality categories identified above as of September 30, 2020 and December 31, 2019: September 30, 2020 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 167,073 $ 592,131 $ 341,309 $ 43,041 $ 160,184 $ 20,667 $ 1,324,405 Special Mention 4,516 1,320 7,960 40 — — 13,836 Substandard 1,565 1,667 6,452 119 17 3 9,823 $ 173,154 $ 595,118 $ 355,721 $ 43,200 $ 160,201 $ 20,670 $ 1,348,064 December 31, 2019 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 149,349 $ 618,350 $ 348,864 $ 37,931 $ 150,517 $ 23,039 $ 1,328,050 Special Mention 3,174 2,436 5,080 — — — 10,690 Substandard 3,690 2,470 9,317 136 — 4 15,617 $ 156,213 $ 623,256 $ 363,261 $ 38,067 $ 150,517 $ 23,043 $ 1,354,357 Allowance for Loan Losses An allowance for loan losses (“ALL”) is maintained to absorb losses from the loan portfolio. The ALL is based on management’s continuing evaluation of the risk characteristics and credit quality of the loan portfolio, assessment of current economic conditions, diversification and size of the portfolio, adequacy of collateral, past and anticipated future loss experience, and the amount of non-performing loans. The Banks' methodology for determining the ALL is based on the requirements of ASC Section 310-10-35 for loans individually evaluated for impairment (previously discussed) and ASC Subtopic 450-20 for loans collectively evaluated for impairment, as well as the Interagency Policy Statements on the Allowance for Loan and Lease Losses and other bank regulatory guidance. The total of the two components represents the Banks' ALL. Loans that are collectively evaluated for impairment are analyzed with general allowances being made as appropriate. Allowances are segmented based on collateral characteristics previously disclosed, and consistent with credit quality monitoring. Loans that are collectively evaluated for impairment are grouped into two classes for evaluation. A general allowance is determined for “Pass” rated credits, while a separate pool allowance is provided for “Criticized” rated credits that are not individually evaluated for impairment. For the general allowances, historical loss trends are used in the estimation of losses in the current portfolio. These historical loss amounts are modified by other qualitative factors. A historical charge-off factor is calculated utilizing a twelve quarter moving average. However, management may adjust the moving average time frame by up to four quarters to adjust for variances in the economic cycle. Management has identified a number of additional qualitative factors which it uses to supplement the historical charge-off factor because these factors are likely to cause estimated credit losses associated with the existing loan pools to differ from historical loss experience. The additional factors that are evaluated quarterly and updated using information obtained from internal, regulatory, and governmental sources are: national and local economic trends and conditions; levels of and trends in delinquency rates and non-accrual loans; trends in volumes and terms of loans; effects of changes in lending policies; experience, ability, and depth of lending staff; value of underlying collateral; and concentrations of credit from a loan type, industry and/or geographic standpoint. Loans in the criticized pools, which possess certain qualities or characteristics that may lead to collection and loss issues, are closely monitored by management and subject to additional qualitative factors. Management also monitors industry loss factors by loan segment for applicable adjustments to actual loss experience. Management reviews the loan portfolio on a quarterly basis in order to make appropriate and timely adjustments to the ALL. When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ALL. Activity in the allowance is presented for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,953 $ 4,478 $ 3,335 $ 150 $ 2,214 $ 127 $ 720 $ 12,977 Charge-offs — (6) — — (200) (33) — (239) Recoveries 9 1 — — 10 26 — 46 Provision 17 (24) (290) 20 (27) 135 814 645 Ending Balance $ 1,979 $ 4,449 $ 3,045 $ 170 $ 1,997 $ 255 $ 1,534 $ 13,429 Three Months Ended September 30, 2019 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,584 $ 5,749 $ 3,523 $ 132 $ 1,435 $ 240 $ 1,338 $ 14,001 Charge-offs — (114) — — (34) (73) — (221) Recoveries 43 2 — 2 14 48 — 109 Provision 159 4 (12) 22 (41) 27 201 360 Ending Balance $ 1,786 $ 5,641 $ 3,511 $ 156 $ 1,374 $ 242 $ 1,539 $ 14,249 t Nine Months Ended September 30, 2020 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,779 $ 4,306 $ 3,210 $ 118 $ 1,780 $ 278 $ 423 $ 11,894 Charge-offs (22) (174) — — (289) (215) — (700) Recoveries 32 48 — 5 17 93 — 195 Provision 190 269 (165) 47 489 99 1,111 2,040 Ending Balance $ 1,979 $ 4,449 $ 3,045 $ 170 $ 1,997 $ 255 $ 1,534 $ 13,429 Nine Months Ended September 30, 2019 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,680 $ 5,616 $ 4,047 $ 143 $ 1,328 $ 259 $ 764 $ 13,837 Charge-offs (80) (251) (150) — (172) (235) — (888) Recoveries 84 3 1 10 74 93 — 265 Provision 102 273 (387) 3 144 125 775 1,035 Ending Balance $ 1,786 $ 5,641 $ 3,511 $ 156 $ 1,374 $ 242 $ 1,539 $ 14,249 The shift in allocation of the loan provision is primarily due to changes in the credit metrics within the loan portfolio and the economic uncertainty caused by the COVID-19 pandemic. The increase in the loan provision within the unallocated segment is the result of the uncertainty that has been caused by the COVID-19 pandemic. The Company grants commercial, industrial, residential, and installment loans to customers primarily throughout north-east and central Pennsylvania. Although the Company has a diversified loan portfolio, a substantial portion of its debtors’ ability to honor their contracts is dependent on the economic conditions within this region. The Company has a concentration of the following to gross loans at September 30, 2020 and 2019: September 30, 2020 2019 Owners of residential rental properties 16.29 % 15.41 % Owners of commercial rental properties 12.98 % 12.19 % The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of September 30, 2020 and December 31, 2019: September 30, 2020 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer Automobile Other consumer installment Unallocated (In Thousands) Residential Commercial Construction Totals Allowance for Loan Losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 187 $ 920 $ — $ — $ — $ — $ 1,107 Collectively evaluated for impairment 1,979 4,262 2,125 170 1,997 255 1,534 12,322 Total ending allowance balance $ 1,979 $ 4,449 $ 3,045 $ 170 $ 1,997 $ 255 $ 1,534 $ 13,429 Loans: Individually evaluated for impairment $ 1,835 $ 5,577 $ 7,205 $ 60 $ — $ — $ 14,677 Collectively evaluated for impairment 171,319 589,541 348,516 43,140 160,201 20,670 1,333,387 Total ending loans balance $ 173,154 $ 595,118 $ 355,721 $ 43,200 $ 160,201 $ 20,670 $ 1,348,064 December 31, 2019 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer Automobile Other consumer installment Unallocated (In Thousands) Residential Commercial Construction Totals Allowance for Loan Losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 211 $ 1,104 $ — $ 62 $ 16 $ — $ 1,393 Collectively evaluated for impairment 1,779 4,095 2,106 118 1,718 262 423 10,501 Total ending allowance balance $ 1,779 $ 4,306 $ 3,210 $ 118 $ 1,780 $ 278 $ 423 $ 11,894 Loans: Individually evaluated for impairment $ 2,285 $ 6,176 $ 8,575 $ 65 $ 130 $ 16 $ 17,247 Collectively evaluated for impairment 153,928 617,080 354,686 38,002 150,387 23,027 1,337,110 Total ending loans balance $ 156,213 $ 623,256 $ 363,261 $ 38,067 $ 150,517 $ 23,043 $ 1,354,357

Net Periodic Benefit Cost-Defin

Net Periodic Benefit Cost-Defined Benefit Plans	9 Months Ended
	Sep. 30, 2020
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Net Periodic Benefit Cost-Defined Benefit Plans	Net Periodic Benefit Cost-Defined Benefit Plans For a detailed disclosure on the Company’s pension and employee benefits plans, please refer to Note 13 of the Company’s Consolidated Financial Statements included in the Annual Report on Form 10-K for the year ended December 31, 2019. The following sets forth the components of the net periodic benefit/cost of the domestic non-contributory defined benefit plan for the three and nine months ended September 30, 2020 and 2019, respectively: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2020 2019 2020 2019 Interest cost $ 161 $ 191 $ 481 $ 573 Expected return on plan assets (330) (248) (956) (746) Amortization of net loss 52 46 144 140 Net periodic benefit $ (117) $ (11) $ (331) $ (33) Employer Contributions The Company previously disclosed in its consolidated financial statements, included in the Annual Report on Form 10-K for the year ended December 31, 2019, that it expected to contribute a minimum of $500,000 to its defined benefit plan in 2020. As of September 30, 2020, there were contributions of $1,250,000 made to the plan with additional contributions of at least $250,000 anticipated during the remainder of 2020.

Employee Stock Purchase Plan

Employee Stock Purchase Plan	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Employee Stock Purchase Plan	Employee Stock Purchase PlanThe Company maintains an Employee Stock Purchase Plan (“Plan”).  The Plan is intended to encourage employee participation in the ownership and economic progress of the Company.  The Plan allows for up to 1,000,000 shares to be purchased by employees.  The purchase price of the shares is 95% of market value with an employee eligible to purchase up to the lesser of 15% of base compensation or $12,000 in market value annually.  During the nine months ended September 30, 2020 and 2019, there were 2,888 and 2,579 shares issued under the Plan, respectively.

Off-Balance Sheet Risk

Off-Balance Sheet Risk	9 Months Ended
	Sep. 30, 2020
Off Balance Sheet Risk
Off-Balance Sheet Risk	Off-Balance Sheet Risk The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments are primarily comprised of commitments to extend credit, standby letters of credit, and credit exposure from the sale of assets with recourse. These instruments involve, to varying degrees, elements of credit, interest rate, or liquidity risk in excess of the amount recognized in the Consolidated Balance Sheet. The contract amounts of these instruments express the extent of involvement the Company has in particular classes of financial instruments. The Company’s exposure to credit loss from nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of these instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The Company may require collateral or other security to support financial instruments with off-balance sheet credit risk. Financial instruments whose contract amounts represent credit risk are as follows at September 30, 2020 and December 31, 2019: (In Thousands) September 30, 2020 December 31, 2019 Commitments to extend credit $ 189,556 $ 187,778 Standby letters of credit 10,186 9,638 Credit exposure from the sale of assets with recourse 8,495 6,826 $ 208,237 $ 204,242 Commitments to extend credit are legally binding agreements to lend to customers. Commitments generally have fixed expiration dates or other termination clauses and may require payment of fees. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future liquidity requirements. The Company evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company, on an extension of credit is based on management’s credit assessment of the counterparty. Standby letters of credit represent conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These instruments are issued primarily to support bid or performance related contracts. The coverage period for these instruments is typically a one year period with an annual renewal option subject to prior approval by management. Fees earned from the issuance of these letters are recognized upon expiration of the coverage period. For secured letters of credit, the collateral is typically Bank deposit instruments or customer business assets.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsThe following disclosures show the hierarchal disclosure framework associated with the level of pricing observations utilized in measuring assets and liabilities at fair value. Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities include items for which quoted prices are available but traded less frequently, and items that are fair valued using other financial instruments, the parameters of which can be directly observed. Level III: Assets and liabilities that have little to no pricing observability as of the reported date. These items do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation. This hierarchy requires the use of observable market data when available. The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a recurring basis as of September 30, 2020 and December 31, 2019, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. September 30, 2020 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: Mortgage-backed securities $ — $ 2,292 $ — $ 2,292 State and political securities — 89,996 — 89,996 Other debt securities — 57,387 — 57,387 Investment equity securities: Other equity securities 1,291 — — 1,291 Investment securities, trading: Other equity securities 35 — — 35 December 31, 2019 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: Mortgage-backed securities $ — $ 4,966 $ — $ 4,966 State and political securities — 82,286 — 82,286 Other debt securities — 61,367 — 61,367 Investment equity securities: Other equity securities 1,261 — — 1,261 Investment securities, trading: Other equity securities 51 — — 51 The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a non-recurring basis as of September 30, 2020 and December 31, 2019, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. September 30, 2020 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 12,910 $ 12,910 Other real estate owned — — 376 376 December 31, 2019 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 15,854 $ 15,854 Other real estate owned — — 413 413 The following tables present a listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques as of September 30, 2020 and December 31, 2019: September 30, 2020 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans $ 5,604 Discounted cash flow Temporary reduction in payment amount 3% to (59)% (19)% 7,306 Appraisal of collateral (1) Appraisal adjustments (1) 0% to (30)% (8)% Other real estate owned $ 376 Appraisal of collateral (1) Appraisal adjustments (1) (20)% (20)% (1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. December 31, 2019 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans $ 6,950 Discounted cash flow Temporary reduction in payment amount 17% to (59)% (24)% 8,904 Appraisal of collateral (1) Appraisal adjustments (1) —% to (30)% (9)% Other real estate owned $ 413 Appraisal of collateral (1) Appraisal adjustments (1) (20)% (20)% (1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The discounted cash flow valuation technique is utilized to determine the fair value of performing impaired loans, while non-performing impaired loans utilize the appraisal of collateral method. The significant unobservable inputs used in the fair value measurement of the Company’s impaired loans using the discounted cash flow valuation technique include temporary changes in payment amounts and the probability of default. Significant increases (decreases) in payment amounts would result in significantly higher (lower) fair value measurements. The probability of default is 0% for impaired loans using the discounted cash flow valuation technique because all defaulted impaired loans are valued using the appraisal of collateral valuation technique.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial InstrumentsThe Company is required to disclose fair values for its financial instruments. Fair values are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Also, it is the Company’s general practice and intention to hold most of its financial instruments to maturity and not to engage in trading or sales activities. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These fair values are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions can significantly affect the fair values. Fair values have been determined by the Company using historical data and an estimation methodology suitable for each category of financial instruments. The Company’s fair values, methods, and assumptions are set forth below for the Company’s other financial instruments. As certain assets and liabilities, such as deferred tax assets, premises and equipment, and many other operational elements of the Company, are not considered financial instruments but have value, this fair value of financial instruments would not represent the full market value of the Company. The fair values of the Company’s financial instruments not recorded at fair value on a recurring or nonrecurring basis are as follows at September 30, 2020 and December 31, 2019: Carrying Fair Fair Value Measurements at September 30, 2020 (In Thousands) Value Value Level I Level II Level III Financial assets: Cash and cash equivalents (1) $ 226,272 $ 226,272 $ 226,272 $ — $ — Restricted investment in bank stock (1) 15,006 15,006 15,006 — — Loans held for sale (1) 6,647 6,647 6,647 — — Loans, net 1,335,711 1,401,625 — — 1,401,625 Bank-owned life insurance (1) 33,474 33,474 33,474 — — Accrued interest receivable (1) 8,540 8,540 8,540 — — Financial liabilities: Interest-bearing deposits $ 1,057,562 $ 1,123,505 $ 807,449 $ — $ 316,056 Noninterest-bearing deposits (1) 434,248 434,248 434,248 — — Short-term borrowings (1) 15,009 15,009 15,009 — — Long-term borrowings 153,534 159,534 — — 159,534 Accrued interest payable (1) 1,491 1,491 1,491 — — (1) The financial instrument is carried at cost at September 30, 2020, which approximate the fair value of the instruments Carrying Fair Fair Value Measurements at December 31, 2019 (In Thousands) Value Value Level I Level II Level III Financial assets: Cash and cash equivalents (1) $ 48,589 $ 48,589 $ 48,589 $ — $ — Restricted investment in bank stock (1) 13,528 13,528 13,528 — — Loans held for sale (1) 4,232 4,232 4,232 — — Loans, net 1,343,650 1,346,395 — — 1,346,395 Bank-owned life insurance (1) 29,253 29,253 29,253 — — Accrued interest receivable (1) 5,246 5,246 5,246 — — Financial liabilities: Interest-bearing deposits $ 989,259 $ 990,747 $ 611,374 $ — $ 379,373 Noninterest-bearing deposits (1) 334,746 334,746 334,746 — — Short-term borrowings (1) 4,920 4,920 4,920 — — Long-term borrowings 161,920 163,931 — — 163,931 Accrued interest payable (1) 1,671 1,671 1,671 — — (1) The financial instrument is carried at cost at December 31, 2019, which approximate the fair value of the instruments The methods and assumptions used by the Company in estimating fair values of financial instruments at September 30, 2020 is in accordance with ASC Topic 825, Financial Instruments , as amended by ASU 2016-01 which requires public entities to use exit pricing in the calculation of the above tables.

Stock Options

Stock Options	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock Options	Stock Options In 2014, the Company adopted the 2014 Equity Incentive Plan designed to help the Company attract, retain, and motivate employees and non-employee directors. Incentive stock options, non-qualified stock options, and restricted stock may be granted as part of the plan. As of January 1, 2020, the Company had a total of 625,800 stock options outstanding. During the period ended September 30, 2020, the Company issued 238,500 stock options with a strike price of $25.34 to a group of employees. The options granted in 2020 all expire ten years from the grant date. Of the 238,500 grants awarded in 2020, 119,300 of the options vest in 3 years while the 119,200 remaining options vest in five years. Stock Options Granted Date Shares Forfeited Outstanding Strike Price Vesting Period Expiration March 11, 2020 119,300 — 119,300 $ 25.34 3 years 10 years March 11, 2020 119,200 — 119,200 25.34 5 years 10 years March 15, 2019 120,900 (1,950) 118,950 28.01 3 years 10 years March 15, 2019 119,100 (1,800) 117,300 28.01 5 years 10 years August 24, 2018 75,300 (1,950) 73,350 30.67 3 years 10 years August 24, 2018 149,250 (4,050) 145,200 30.67 5 years 10 years January 5, 2018 18,750 — 18,750 30.07 3 years 10 years January 5, 2018 18,750 — 18,750 30.07 5 years 10 years March 24, 2017 69,375 (6,750) 62,625 29.47 3 years 10 years March 24, 2017 35,625 — 35,625 29.47 5 years 10 years August 27, 2015 58,125 (22,875) 35,250 28.02 5 years 10 years A summary of stock option activity is presented below: September 30, 2020 September 30, 2019 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding, beginning of year 625,800 $ 29.29 395,550 $ 30.08 Granted 238,500 25.34 240,000 28.01 Exercised — — — — Forfeited — — — — Expired — — — — Outstanding, end of period 864,300 $ 28.20 635,550 $ 29.30 Exercisable, end of period 97,875 $ 28.95 — $ — The estimated fair value of options, including the effect of estimated forfeitures, is recognized as expense on a straightline basis over the options’ vesting periods while ensuring that the cumulative amount of compensation cost recognized at least equals the value of the vested portion of the award at that date. The Company determines the fair value of options granted using the Black-Scholes option-pricing model. The risk-free interest rate is based on the United States Treasury bond with a similar term to the expected life of the options at the grant date. Expected volatility was estimated based on the adjusted historic volatility of the Company’s shares. The expected life was estimated to equal the contractual life of the options. The dividend yield rate was based upon recent historical dividends paid on shares. Compensation expense for stock options is recognized using the fair value when the stock options are granted and is amortized over the options' vesting period. Compensation expense related to stock options was $239,000 and $675,000 for the three and nine months ended September 30, 2020 compared to $185,000 and $498,000 for the same period of 2019. As of September 30, 2020, a total of 97,875 stock options were exercisable and the weighted average years to expiration was 8.17 years years. The

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	Leases The following table shows finance lease right of use assets and finance lease liabilities as of: (In Thousands) Statement of Financial Condition classification September 30, 2020 December 31, 2019 Finance lease right of use assets Premises and equipment, net $ 5,307 $ 5,456 Finance lease liabilities Long-term borrowings 5,534 5,587 The following table shows the components of finance and operating lease expense for the three and six months ended June 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2020 2019 2020 2019 Finance Lease Cost: Amortization of right-of-use asset $ 50 $ 65 $ 150 $ 194 Interest expense 53 56 159 168 Operating lease cost 76 99 243 271 Variable lease cost — 1 — 3 Total Lease Cost $ 179 $ 221 $ 552 $ 636 A maturity analysis of operating and finance lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows: (In Thousands) Operating Finance 2020 $ 71 $ 70 2021 291 282 2022 298 283 2023 273 284 2024 263 290 2025 and thereafter 3,176 8,004 Total undiscounted cash flows 4,372 9,213 Discount on cash flows (1,153) (3,679) Total lease liability $ 3,219 $ 5,534 The following table shows the weighted average remaining lease term and weighted average discount rate for both operating and finance leases outstanding as of September 30, 2020. Operating Finance Weighted-average term (years) 18.4 27.4 Weighted-average discount rate 3.51 % 3.77 %
Leases	Leases The following table shows finance lease right of use assets and finance lease liabilities as of: (In Thousands) Statement of Financial Condition classification September 30, 2020 December 31, 2019 Finance lease right of use assets Premises and equipment, net $ 5,307 $ 5,456 Finance lease liabilities Long-term borrowings 5,534 5,587 The following table shows the components of finance and operating lease expense for the three and six months ended June 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2020 2019 2020 2019 Finance Lease Cost: Amortization of right-of-use asset $ 50 $ 65 $ 150 $ 194 Interest expense 53 56 159 168 Operating lease cost 76 99 243 271 Variable lease cost — 1 — 3 Total Lease Cost $ 179 $ 221 $ 552 $ 636 A maturity analysis of operating and finance lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows: (In Thousands) Operating Finance 2020 $ 71 $ 70 2021 291 282 2022 298 283 2023 273 284 2024 263 290 2025 and thereafter 3,176 8,004 Total undiscounted cash flows 4,372 9,213 Discount on cash flows (1,153) (3,679) Total lease liability $ 3,219 $ 5,534 The following table shows the weighted average remaining lease term and weighted average discount rate for both operating and finance leases outstanding as of September 30, 2020. Operating Finance Weighted-average term (years) 18.4 27.4 Weighted-average discount rate 3.51 % 3.77 %

Reclassification of Comparative

Reclassification of Comparative Amounts	9 Months Ended
	Sep. 30, 2020
Reclassification of Comparative Amounts
Reclassification of Comparative Amounts	Reclassification of Comparative AmountsCertain comparative amounts for the prior period have been reclassified to conform to current period presentations. Such reclassifications had no effect on net income or shareholders’ equity.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsAll events subsequent to the date of the consolidated financial statements through November 9, 2020, and for which U.S. GAAP requires adjustment or disclosure, have been adjusted or disclosed, including that the 2019 novel coronavirus (or COVID-19) has adversely affected, and may continue to adversely affect, economic activity globally, nationally, and locally.  In response to COVID-19, among other things, the Company has incurred loan rate modifications and payment deferrals of up to 180 days.  For further discussion, see COVID-19 Impact section of Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operation.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The consolidated financial statements include the accounts of Penns Woods Bancorp, Inc. (the “Company”) and its wholly-owned subsidiaries: Woods Investment Company, Inc., Woods Real Estate Development Company, Inc., Luzerne Bank, and Jersey Shore State Bank (Jersey Shore State Bank and Luzerne Bank are referred to together as the “Banks”) and Jersey Shore State Bank’s wholly-owned subsidiary, The M Group, Inc. D/B/A The Comprehensive Financial Group (“The M Group”). The Company also owns a controlling interest in United Insurance Solutions, LLC. All significant inter-company balances and transactions have been eliminated in the consolidation. The interim financial statements are unaudited, but in the opinion of management reflect all adjustments necessary for the fair presentation of results for such periods. The results of operations for any interim period are not necessarily indicative of results for the full year. These financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.
Recent Accounting Pronouncements	In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment . To simplify the subsequent measurement of goodwill, the FASB eliminated Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. In November 2019, the FASB issued ASU 2019-10, Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) , which deferred the effective date for ASC 350, Intangibles – Goodwill and Other , for smaller reporting companies to fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. This Update is not expected to have a significant impact on the Company’s financial statements. In August 2018, the FASB issued ASU 2018-14, Compensation – Retirement Benefits (Topic 715-20). This Update amends ASC 715 to add, remove, and clarify disclosure requirements related to defined benefit pension and other postretirement plans. The Update eliminates the requirement to disclose the amounts in accumulated other comprehensive income expected to be recognized as part of net periodic benefit cost over the next year. The Update also removes the disclosure requirements for the effects of a one percentage point change on the assumed health care costs and the effect of this change in rates on service cost, interest cost, and the benefit obligation for postretirement health care benefits. This Update is effective for public business entities for fiscal years ending after December 15, 2020, and must be applied on a retrospective basis. For all other entities, this Update is effective for fiscal years ending after December 15, 2021. This Update is not expected to have a significant impact on the Company’s financial statements. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Derivatives and Hedging (Topic 815), and Financial Instruments (Topic 825), which affects a variety of topics in the Codification and applies to all reporting entities within the scope of the affected accounting guidance. Topic 326 , Financial Instruments – Credit Losses , amendments are effective for SEC registrants for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. For all other public business entities, the effective date is for fiscal years beginning after December 15, 2020, and for all other entities, the effective date is for fiscal years beginning after December 15, 2021. Topic 815 , Derivatives and Hedging , amendments are effective for public business entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods beginning after December 15, 2020. For entities that have adopted the amendments in Update 2017-12, the effective date is as of the beginning of the first annual period beginning after the issuance of this Update. Topic 825 , Financial Instruments , amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years. In November 2019, the FASB issued ASU 2019-10, Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) . This Update defers the effective date of ASU 2016-13 for SEC filers that are eligible to be smaller reporting companies, non-SEC filers, and all other companies, to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Furthermore, the ASU provides a one-year deferral of the effective dates of the ASUs on derivatives and hedging for companies that are not public business entities. The Company qualifies as a smaller reporting company and does not expect to early adopt these ASUs. In May 2019, the FASB issued ASU 2019-05, Financial Instruments – Credit Losses (Topic 326) , which allows entities to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost upon adoption of the new credit losses standard. To be eligible for the transition election, the existing financial asset must otherwise be both within the scope of the new credit losses standard and eligible for applying the fair value option in ASC 825-10.3. The election must be applied on an instrument-by-instrument basis and is not available for either available-for-sale or held-to-maturity debt securities. For entities that elect the fair value option, the difference between the carrying amount and the fair value of the financial asset would be recognized through a cumulative-effect adjustment to opening retained earnings as of the date an entity adopted ASU 2016-13. Changes in fair value of that financial asset would subsequently be reported in current earnings. For entities that have not yet adopted ASU 2016-13, the effective dates and transition requirements are the same as those in ASU 2016-13. For entities that have adopted ASU 2016-13, ASU 2019-05 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted once ASU 2016-13 has been adopted. In November 2019, the FASB issued ASU 2019-10, Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) . The Update defers the effective date of ASU 2016-13 for SEC filers that are eligible to be smaller reporting companies, non-SEC filers, and all other companies, to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company qualifies as a smaller reporting company and does not expect to early adopt ASU 2016-13. In November 2019, the FASB issued ASU 2019-09, Financial Services ‒ Insurance (Topic 944) , which defers the effective date of the amendments in Update 2018-12, Financial Services ‒ Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts . For public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies, as defined by the SEC, the amendments in Update 2018-12 are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early application of the amendments in Update 2018-12 is permitted. For all other entities, the amendments in Update 2018-12 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early application of the amendments in Update 2018-12 is permitted. This Update is not expected to have a significant impact on the Company’s financial statements. In November 2019, the FASB issued ASU 2019-10, Financial Instruments ‒ Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) . The Update defers the effective dates of ASU 2016-13 for SEC filers that are eligible to be smaller reporting companies, non-SEC filers, and all other companies, to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. This Update also amends the mandatory effective date for the elimination of Step 2 from the goodwill impairment test under ASU No. 2017-04, Intangibles ‒ Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (Goodwill) , to align with those used for credit losses. Furthermore, the ASU provides a one-year deferral of the effective dates of the ASUs on derivatives and hedging and leases for companies that are not public business entities. The Company qualifies as a smaller reporting company and does not expect to early adopt these ASUs. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses , to clarify its new credit impairment guidance in ASC 326, based on implementation issues raised by stakeholders. This Update clarified, among other things, that expected recoveries are to be included in the allowance for credit losses for these financial assets; an accounting policy election can be made to adjust the effective interest rate for existing troubled debt restructurings based on the prepayment assumptions instead of the prepayment assumptions applicable immediately prior to the restructuring event; and extends the practical expedient to exclude accrued interest receivable from all additional relevant disclosures involving amortized cost basis. The effective dates in this Update are the same as those applicable for ASU 2019-10. The Company qualifies as a smaller reporting company and does not expect to early adopt these ASUs. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) , to simplify the accounting for income taxes, change the accounting for certain tax transactions, and make minor improvements to the codification. This Update provides a policy election to not allocate consolidated income taxes when a member of a consolidated tax return is not subject to income tax and provides guidance to evaluate whether a step-up in tax basis of goodwill relates to a business combination in which book goodwill was recognized or was a separate transaction. The Update also changes current guidance for making an intraperiod allocation if there is a loss in continuing operations and gains outside of continuing operations, determining when a deferred tax liability is recognized after an investor in a foreign entity transitions to or from the equity method of accounting, accounting for tax law changes and year-to-date losses in interim periods, and determining how to apply the income tax guidance to franchise taxes that are partially based on income. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. This Update is not expected to have a significant impact on the Company’s financial statements. In January 2020, the FASB issued ASU 2020-1, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) , to clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting, for the purposes of applying the measurement alternative, in accordance with Topic 321, immediately before applying or upon discontinuing the equity method. The amendments also clarify that, for the purpose of applying paragraph 815-10-15-141 (a), an entity should not consider whether, upon the settlement of the forward contract or exercise of the purchased option, individually or with existing investments, the underlying securities would be accounted for under the equity method in Topic 323 or the fair value option, in accordance with the financial instruments guidance in Topic 825. An entity also would evaluate the remaining characteristics in paragraph 815-10-15-141 to determine the accounting for those forward contracts and purchased options. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. This Update is not expected to have a significant impact on the Company’s financial statements. In January 2020, the FASB issued ASU 2020-2, Financial Instruments – Credit Losses (Topic 326) and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842), February 2020 , to add and amend SEC paragraphs in the Accounting Standards Codification to reflect the issuance of SEC Staff Accounting Bulletin No. 119, related to the new credit losses standard, and comments by the SEC staff related to the revised effective date of the new leases standard. This ASU is effective upon issuance. This did not have a significant impact on the Company’s financial statements. In March 2020, the FASB issued ASU 2020-3 , Codification Improvements to Financial Instruments. This ASU was issued to improve and clarify various financial instruments topics, including the current expected credit losses (CECL) standard issued in 2016. The ASU includes seven issues that describe the areas of improvement and the related amendments to GAAP; they are intended to make the standards easier to understand and apply and to eliminate inconsistencies, and they are narrow in scope and are not expected to significantly change practice for most entities. Among its provisions, the ASU clarifies that all entities, other than public business entities that elected the fair value option, are required to provide certain fair value disclosures under ASC 825, Financial Instruments , in both interim and annual financial statements. It also clarifies that the contractual term of a net investment in a lease under Topic 842 should be the contractual term used to measure expected credit losses under Topic 326. Amendments related to ASU 2019-04 are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is not permitted before an entity’s adoption of ASU 2016-01. Amendments related to ASU 2016-13 for entities that have not yet adopted that guidance are effective upon adoption of the amendments in ASU 2016-13. Early adoption is not permitted before an entity’s adoption of ASU 2016-13. Amendments related to ASU 2016-13 for entities that have adopted that guidance are effective for fiscal years beginning after December 15, 2019, including interim periods within those years. Other amendments are effective upon issuance of this ASU. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations In January 2020, the FASB issued ASU 2020-4, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, March 2020 , to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Also, entities can elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met, and can make a one-time election to sell and/or reclassify held-to-maturity debt securities that reference an interest rate affected by reference rate reform. The amendments in this ASU are effective for all entities upon issuance through December 31, 2022. It is too early to predict whether a new rate index replacement and the adoption of the ASU will have a material impact on the Company’s financial statements. In August 2020, the FASB issued ASU 2020-6, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) , which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. This ASU removes from U.S. GAAP the separation models for (1) convertible debt with a cash conversion feature and (2) convertible instruments with a beneficial conversion feature. As a result, entities will not separately present in equity an embedded conversion feature in such debt. Instead, they will account for a convertible debt instrument wholly as debt, and for convertible preferred stock wholly as preferred stock (i.e., as a single unit of account), unless (1) a convertible instrument contains features that require bifurcation as a derivative under ASC 815 or (2) a convertible debt instrument was issued at a substantial premium. This ASU requires entities to provide expanded disclosures about the terms and features of convertible instruments, how the instruments have been reported in the entity’s financial statements, and information about events, conditions, and circumstances that can affect how to assess the amount or timing of an entity’s future cash flows related to those instruments. The amendments in this ASU are effective for public business entities that are not smaller reporting companies, for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. For all other entities, this ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The guidance may be early adopted for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. This Update is not expected to have a significant impact on the Company’s financial statements.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Gain (loss) (Tables)	9 Months Ended
	Sep. 30, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of changes in accumulated other comprehensive income by component	The changes in accumulated other comprehensive gain (loss) by component shown net of tax and parenthesis indicating debits, as of September 30, 2020 and 2019 were as follows: Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 (In Thousands) Net Unrealized Gain on Available Defined Total Net Unrealized Defined Total Beginning balance $ 4,194 $ (5,159) $ (965) $ 2,419 $ (5,202) $ (2,783) Other comprehensive gain before reclassifications 1,046 — 1,046 996 — 996 Amounts reclassified from accumulated other comprehensive (loss) gain (800) 41 (759) (149) 37 (112) Net current-period other comprehensive income 246 41 287 847 37 884 Ending balance $ 4,440 $ (5,118) $ (678) $ 3,266 $ (5,165) $ (1,899) Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 (In Thousands) Net Unrealized Gain on Available for Sale Securities Defined Total Net Unrealized Gain on Available Defined Total Beginning balance $ 2,455 $ (5,232) $ (2,777) $ (1,360) $ (5,276) $ (6,636) Other comprehensive gain before reclassifications 2,949 — 2,949 4,784 — 4,784 Amounts reclassified from accumulated other comprehensive (loss) gain (964) 114 (850) (158) 111 (47) Net current-period other comprehensive income 1,985 114 2,099 4,626 111 4,737 Ending balance $ 4,440 $ (5,118) $ (678) $ 3,266 $ (5,165) $ (1,899)
Schedule of reclassifications out of accumulated other comprehensive income	The reclassifications out of accumulated other comprehensive loss shown, net of tax and parenthesis indicating debits to net income, as of September 30, 2020 and 2019 were as follows: Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Net unrealized gain on available for sale securities $ 1,013 $ 189 Net debt securities gains (losses), available for sale Income tax effect (213) (40) Income tax provision Total reclassifications for the period $ 800 $ 149 Net unrecognized pension costs $ (52) $ (46) Salaries and employee benefits Income tax effect 11 9 Income tax provision Total reclassifications for the period $ (41) $ (37) Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item Nine months ended September 30, 2020 Nine months ended September 30, 2019 Net unrealized gain on available for sale securities $ 1,220 $ 200 Net debt securities gains, available for sale Income tax effect (256) (42) Income tax provision Total reclassifications for the period $ 964 $ 158 Net unrecognized pension costs $ (144) $ (140) Salaries and employee benefits Income tax effect 30 29 Income tax provision Total reclassifications for the period $ (114) $ (111)

Per Share Data (Tables)

Per Share Data (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of weighted average common shares (denominator) used in the basic and dilutive earnings per share computation	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Weighted average common shares issued 7,525,561 7,517,280 7,522,803 7,516,406 Weighted average treasury stock shares (480,225) (480,225) (480,225) (480,225) Weighted average common shares outstanding - basic 7,045,336 7,037,055 7,042,578 7,036,181 Dilutive effect of outstanding stock options — — — — Weighted average common shares outstanding - basic and diluted 7,045,336 7,037,055 7,042,578 7,036,181

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of amortized cost, gross unrealized gains and losses, and fair values of equity and trading investment securities	The amortized cost, gross unrealized gains and losses, and fair values of our investment securities portfolio at September 30, 2020 and December 31, 2019 are as follows: September 30, 2020 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): Mortgage-backed securities $ 2,267 $ 25 $ — $ 2,292 State and political securities 84,873 5,136 (13) 89,996 Other debt securities 56,915 969 (497) 57,387 Total debt securities $ 144,055 $ 6,130 $ (510) $ 149,675 Investment equity securities: Other equity securities $ 1,300 $ 11 $ (20) $ 1,291 Trading: Other equity securities $ 50 $ — $ (15) $ 35 December 31, 2019 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): Mortgage-backed securities $ 4,956 $ 56 $ (46) $ 4,966 State and political securities 79,064 3,299 (77) 82,286 Other debt securities 61,492 401 (526) 61,367 Total debt securities $ 145,512 $ 3,756 $ (649) $ 148,619 Investment equity securities: Other equity securities $ 1,300 $ — $ (39) $ 1,261 Trading: Other equity securities $ 50 $ 3 $ (2) $ 51
Schedule of gross unrealized losses and fair value	The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time, that the individual debt securities have been in a continuous unrealized loss position, at September 30, 2020 and December 31, 2019. September 30, 2020 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) Value Losses Value Losses Value Losses Available for sale (AFS): Mortgage-backed securities $ — $ — $ — $ — $ — $ — State and political securities 4,179 (6) 904 (7) 5,083 (13) Other debt securities 9,682 (260) 3,271 (237) 12,953 (497) Total debt securities $ 13,861 $ (266) $ 4,175 $ (244) $ 18,036 $ (510) December 31, 2019 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) Value Losses Value Losses Value Losses Available for sale (AFS): Mortgage-backed securities $ — $ — $ 2,115 $ (46) $ 2,115 $ (46) State and political securities 7,958 (40) 224 (37) 8,182 (77) Other debt securities 13,373 (216) 14,258 (310) 27,631 (526) Total debt securities $ 21,331 $ (256) $ 16,597 $ (393) $ 37,928 $ (649)
Schedule of amortized cost and fair value of debt securities by contractual maturity	The amortized cost and fair value of debt securities at September 30, 2020, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities since borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (In Thousands) Amortized Cost Fair Value Due in one year or less $ 10,744 $ 10,812 Due after one year to five years 66,984 68,131 Due after five years to ten years 56,013 60,132 Due after ten years 10,314 10,600 Total $ 144,055 $ 149,675
Schedule of gross realized gains and losses	The following table represents gross realized gains and losses from the sales of debt securities available for sale: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2020 2019 2020 2019 Available for sale (AFS): Gross realized gains: Mortgage-backed securities $ — $ — $ 83 $ — State and political securities 839 190 943 204 Other debt securities 174 — 194 4 Total gross realized gains $ 1,013 $ 190 $ 1,220 $ 208 Gross realized losses: State and political securities $ — $ 1 $ — $ 3 Other debt securities — — — 5 Total gross realized losses $ — $ 1 $ — $ 8
Schedule of unrealized and realized gains and losses recognized in net income	The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2020 2019 2020 2019 Net gains (losses) recognized in equity securities during the period( $ — $ (21) $ 30 $ 44 Less: Net gains realized on the sale of equity securities during the period — — — — Unrealized gains recognized in equity securities held at reporting date $ — $ (21) $ 30 $ 44 Net gains and losses on trading account securities are as follows for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2020 2019 2020 2019 Net gains on sale transactions $ — $ — $ — $ 8 Net mark-to-market (losses) gains (2) 2 (16) 7 Net (loss) gain on trading account securities $ (2) $ 2 $ (16) $ 15

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2020
Loans and Leases Receivable Disclosure [Abstract]
Schedule of related aging categories of loans by segment	The following table presents the related aging categories of loans, by segment, as of September 30, 2020 and December 31, 2019: September 30, 2020 Past Due Past Due 90 30 To 89 Days Or More Non- (In Thousands) Current Days & Still Accruing Accrual Total Commercial, financial, and agricultural $ 171,344 $ 245 $ — $ 1,565 $ 173,154 Real estate mortgage: Residential 590,275 2,581 595 1,667 595,118 Commercial 348,644 429 196 6,452 355,721 Construction 43,142 — — 58 43,200 Consumer automobile loans 159,810 374 — 17 160,201 Other consumer installment loans 20,294 373 — 3 20,670 1,333,509 $ 4,002 $ 791 $ 9,762 1,348,064 Net deferred loan fees and discounts 1,076 1,076 Allowance for loan losses (13,429) (13,429) Loans, net $ 1,321,156 $ 1,335,711 December 31, 2019 Past Due Past Due 90 30 To 89 Days Or More Non- (In Thousands) Current Days & Still Accruing Accrual Total Commercial, financial, and agricultural $ 153,737 $ 249 $ 30 $ 2,197 $ 156,213 Real estate mortgage: Residential 615,580 4,881 1,529 1,266 623,256 Commercial 355,597 775 164 6,725 363,261 Construction 37,871 131 — 65 38,067 Consumer automobile loans 149,703 709 — 105 150,517 Other consumer installment loans 22,124 579 324 16 23,043 1,334,612 $ 7,324 $ 2,047 $ 10,374 1,354,357 Net deferred loan fees and discounts 1,187 1,187 Allowance for loan losses (11,894) (11,894) Loans, net $ 1,323,905 $ 1,343,650
Schedule of interest income if interest had been recorded based on the original loan agreement terms and rate of interest for non-accrual loans and interest income recognized on a cash basis for non-accrual loans	The following table presents interest income the Banks would have recorded if interest had been recorded based on the original loan agreement terms and rate of interest for non-accrual loans and interest income recognized on a cash basis for non-accrual loans for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 2019 (In Thousands) Interest Income That Interest Interest Income That Interest Commercial, financial, and agricultural $ 2 $ 14 $ 51 $ 49 Real estate mortgage: Residential 14 2 76 76 Commercial 52 — 68 30 Construction — — 1 1 Consumer automobile loans — — — — Other consumer installment loans — — 1 1 $ 68 $ 16 $ 197 $ 157 Nine Months Ended September 30, 2020 2019 (In Thousands) Interest Income That Interest Interest Income That Interest Commercial, financial, and agricultural $ 37 $ 14 $ 108 $ 132 Real estate mortgage: Residential 27 2 142 118 Commercial 116 — 233 104 Construction 1 — 3 3 Consumer automobile loans 2 3 3 2 Other consumer installment loans 3 — 2 1 $ 186 $ 19 $ 491 $ 360
Schedule of recorded investment, unpaid principal balance, and related allowance of impaired loans by segment	The following table presents the recorded investment, unpaid principal balance, and related allowance of impaired loans by segment as of September 30, 2020 and December 31, 2019: September 30, 2020 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 1,820 $ 4,607 $ — Real estate mortgage: Residential 4,305 4,305 — Commercial 4,113 4,113 — Construction 60 60 — Consumer automobile loans — — — Installment loans to individuals — — — 10,298 13,085 — With an allowance recorded: Commercial, financial, and agricultural 15 15 — Real estate mortgage: Residential 1,272 1,272 187 Commercial 3,092 3,092 920 Construction — — — Consumer automobile loans — — — Installment loans to individuals — — — 4,379 4,379 1,107 Total: Commercial, financial, and agricultural 1,835 4,622 — Real estate mortgage: Residential 5,577 5,577 187 Commercial 7,205 7,205 920 Construction 60 60 — Consumer automobile loans — — — Installment loans to individuals — — — $ 14,677 $ 17,464 $ 1,107 December 31, 2019 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 2,285 $ 5,072 $ — Real estate mortgage: Residential 5,008 5,008 — Commercial 5,035 5,035 — Construction 65 65 — Consumer automobile loans — — — Installment loans to individuals — — — 12,393 15,180 — With an allowance recorded: Commercial, financial, and agricultural — — — Real estate mortgage: Residential 1,168 1,200 211 Commercial 3,540 3,590 1,104 Construction — — — Consumer automobile loans 130 130 62 Installment loans to individuals 16 16 16 4,854 4,936 1,393 Total: Commercial, financial, and agricultural 2,285 5,072 — Real estate mortgage: Residential 6,176 6,208 211 Commercial 8,575 8,625 1,104 Construction 65 65 — Consumer automobile loans 130 130 62 Installment loans to individuals 16 16 16 $ 17,247 $ 20,116 $ 1,393
Schedule of average recorded investment in impaired loans and related interest income recognized	The following table presents the average recorded investment in impaired loans and related interest income recognized for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 2019 (In Thousands) Average Interest Income Interest Income Average Interest Income Interest Income Commercial, financial, and agricultural $ 1,543 $ 33 $ 14 $ 5,236 $ 1 $ 49 Real estate mortgage: Residential 5,117 63 2 5,006 26 76 Commercial 6,587 71 — 9,037 30 31 Construction 54 1 — 70 — 1 Consumer automobile 147 — — 37 — — Other consumer installment loans — — — 5 — — $ 13,448 $ 168 $ 16 $ 19,391 $ 57 $ 157 Nine Months Ended September 30, 2020 2019 (In Thousands) Average Interest Income Interest Income Average Interest Income Interest Income Commercial, financial, and agricultural $ 1,849 $ 34 $ 14 $ 5,269 $ 3 $ 131 Real estate mortgage: Residential 5,535 177 2 4,584 81 115 Commercial 7,577 118 — 10,053 91 100 Construction 60 1 — 72 — 3 Consumer automobile 111 1 3 45 — 1 Other consumer installment loans 4 — — 11 — — $ 15,136 $ 331 $ 19 $ 20,034 $ 175 $ 350
Schedule of Loan Modifications that are Considered TDRs	Loan modifications that are considered TDRs completed during the three and nine months ended September 30, 2019 were as follows: Three Months Ended September 30, 2019 (In Thousands, Except Number of Contracts) Number Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial, financial, and agricultural — $ — $ — Real estate mortgage: Residential 1 2,059 2,059 Commercial — — — 1 $ 2,059 $ 2,059 Nine Months Ended September 30, 2019 (In Thousands, Except Number of Contracts) Number Pre-Modification Post-Modification Commercial, financial, and agricultural 2 $ 4,014 $ 4,014 Real estate mortgage: Residential 1 2,059 2,059 Commercial 2 2,862 2,862 5 $ 8,935 $ 8,935
Schedule of credit quality categories	The following table presents the credit quality categories identified above as of September 30, 2020 and December 31, 2019: September 30, 2020 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 167,073 $ 592,131 $ 341,309 $ 43,041 $ 160,184 $ 20,667 $ 1,324,405 Special Mention 4,516 1,320 7,960 40 — — 13,836 Substandard 1,565 1,667 6,452 119 17 3 9,823 $ 173,154 $ 595,118 $ 355,721 $ 43,200 $ 160,201 $ 20,670 $ 1,348,064 December 31, 2019 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 149,349 $ 618,350 $ 348,864 $ 37,931 $ 150,517 $ 23,039 $ 1,328,050 Special Mention 3,174 2,436 5,080 — — — 10,690 Substandard 3,690 2,470 9,317 136 — 4 15,617 $ 156,213 $ 623,256 $ 363,261 $ 38,067 $ 150,517 $ 23,043 $ 1,354,357
Schedule of activity in the allowance	Activity in the allowance is presented for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, 2020 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,953 $ 4,478 $ 3,335 $ 150 $ 2,214 $ 127 $ 720 $ 12,977 Charge-offs — (6) — — (200) (33) — (239) Recoveries 9 1 — — 10 26 — 46 Provision 17 (24) (290) 20 (27) 135 814 645 Ending Balance $ 1,979 $ 4,449 $ 3,045 $ 170 $ 1,997 $ 255 $ 1,534 $ 13,429 Three Months Ended September 30, 2019 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,584 $ 5,749 $ 3,523 $ 132 $ 1,435 $ 240 $ 1,338 $ 14,001 Charge-offs — (114) — — (34) (73) — (221) Recoveries 43 2 — 2 14 48 — 109 Provision 159 4 (12) 22 (41) 27 201 360 Ending Balance $ 1,786 $ 5,641 $ 3,511 $ 156 $ 1,374 $ 242 $ 1,539 $ 14,249 t Nine Months Ended September 30, 2020 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,779 $ 4,306 $ 3,210 $ 118 $ 1,780 $ 278 $ 423 $ 11,894 Charge-offs (22) (174) — — (289) (215) — (700) Recoveries 32 48 — 5 17 93 — 195 Provision 190 269 (165) 47 489 99 1,111 2,040 Ending Balance $ 1,979 $ 4,449 $ 3,045 $ 170 $ 1,997 $ 255 $ 1,534 $ 13,429 Nine Months Ended September 30, 2019 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,680 $ 5,616 $ 4,047 $ 143 $ 1,328 $ 259 $ 764 $ 13,837 Charge-offs (80) (251) (150) — (172) (235) — (888) Recoveries 84 3 1 10 74 93 — 265 Provision 102 273 (387) 3 144 125 775 1,035 Ending Balance $ 1,786 $ 5,641 $ 3,511 $ 156 $ 1,374 $ 242 $ 1,539 $ 14,249
Schedule of concentration of loan	The Company has a concentration of the following to gross loans at September 30, 2020 and 2019: September 30, 2020 2019 Owners of residential rental properties 16.29 % 15.41 % Owners of commercial rental properties 12.98 % 12.19 %
Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method	The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of September 30, 2020 and December 31, 2019: September 30, 2020 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer Automobile Other consumer installment Unallocated (In Thousands) Residential Commercial Construction Totals Allowance for Loan Losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 187 $ 920 $ — $ — $ — $ — $ 1,107 Collectively evaluated for impairment 1,979 4,262 2,125 170 1,997 255 1,534 12,322 Total ending allowance balance $ 1,979 $ 4,449 $ 3,045 $ 170 $ 1,997 $ 255 $ 1,534 $ 13,429 Loans: Individually evaluated for impairment $ 1,835 $ 5,577 $ 7,205 $ 60 $ — $ — $ 14,677 Collectively evaluated for impairment 171,319 589,541 348,516 43,140 160,201 20,670 1,333,387 Total ending loans balance $ 173,154 $ 595,118 $ 355,721 $ 43,200 $ 160,201 $ 20,670 $ 1,348,064 December 31, 2019 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer Automobile Other consumer installment Unallocated (In Thousands) Residential Commercial Construction Totals Allowance for Loan Losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 211 $ 1,104 $ — $ 62 $ 16 $ — $ 1,393 Collectively evaluated for impairment 1,779 4,095 2,106 118 1,718 262 423 10,501 Total ending allowance balance $ 1,779 $ 4,306 $ 3,210 $ 118 $ 1,780 $ 278 $ 423 $ 11,894 Loans: Individually evaluated for impairment $ 2,285 $ 6,176 $ 8,575 $ 65 $ 130 $ 16 $ 17,247 Collectively evaluated for impairment 153,928 617,080 354,686 38,002 150,387 23,027 1,337,110 Total ending loans balance $ 156,213 $ 623,256 $ 363,261 $ 38,067 $ 150,517 $ 23,043 $ 1,354,357

Net Periodic Benefit Cost-Def_2

Net Periodic Benefit Cost-Defined Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Schedule of components of the net periodic benefit/cost of the domestic non-contributory defined benefit plan	The following sets forth the components of the net periodic benefit/cost of the domestic non-contributory defined benefit plan for the three and nine months ended September 30, 2020 and 2019, respectively: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2020 2019 2020 2019 Interest cost $ 161 $ 191 $ 481 $ 573 Expected return on plan assets (330) (248) (956) (746) Amortization of net loss 52 46 144 140 Net periodic benefit $ (117) $ (11) $ (331) $ (33)

Off Balance Sheet Risk (Tables)

Off Balance Sheet Risk (Tables)	9 Months Ended
	Sep. 30, 2020
Off Balance Sheet Risk
Schedule of Financial instruments whose contract amounts represent credit risk	Financial instruments whose contract amounts represent credit risk are as follows at September 30, 2020 and December 31, 2019: (In Thousands) September 30, 2020 December 31, 2019 Commitments to extend credit $ 189,556 $ 187,778 Standby letters of credit 10,186 9,638 Credit exposure from the sale of assets with recourse 8,495 6,826 $ 208,237 $ 204,242

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of assets reported on the balance sheet at their fair value on a recurring basis	The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a recurring basis as of September 30, 2020 and December 31, 2019, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. September 30, 2020 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: Mortgage-backed securities $ — $ 2,292 $ — $ 2,292 State and political securities — 89,996 — 89,996 Other debt securities — 57,387 — 57,387 Investment equity securities: Other equity securities 1,291 — — 1,291 Investment securities, trading: Other equity securities 35 — — 35 December 31, 2019 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: Mortgage-backed securities $ — $ 4,966 $ — $ 4,966 State and political securities — 82,286 — 82,286 Other debt securities — 61,367 — 61,367 Investment equity securities: Other equity securities 1,261 — — 1,261 Investment securities, trading: Other equity securities 51 — — 51
Schedule of assets reported on the consolidated balance sheet at their fair value on a non-recurring basis	The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a non-recurring basis as of September 30, 2020 and December 31, 2019, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. September 30, 2020 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 12,910 $ 12,910 Other real estate owned — — 376 376 December 31, 2019 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 15,854 $ 15,854 Other real estate owned — — 413 413
Schedule of listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques	The following tables present a listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques as of September 30, 2020 and December 31, 2019: September 30, 2020 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans $ 5,604 Discounted cash flow Temporary reduction in payment amount 3% to (59)% (19)% 7,306 Appraisal of collateral (1) Appraisal adjustments (1) 0% to (30)% (8)% Other real estate owned $ 376 Appraisal of collateral (1) Appraisal adjustments (1) (20)% (20)% (1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. December 31, 2019 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans $ 6,950 Discounted cash flow Temporary reduction in payment amount 17% to (59)% (24)% 8,904 Appraisal of collateral (1) Appraisal adjustments (1) —% to (30)% (9)% Other real estate owned $ 413 Appraisal of collateral (1) Appraisal adjustments (1) (20)% (20)% (1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of fair value of financial instruments	The fair values of the Company’s financial instruments not recorded at fair value on a recurring or nonrecurring basis are as follows at September 30, 2020 and December 31, 2019: Carrying Fair Fair Value Measurements at September 30, 2020 (In Thousands) Value Value Level I Level II Level III Financial assets: Cash and cash equivalents (1) $ 226,272 $ 226,272 $ 226,272 $ — $ — Restricted investment in bank stock (1) 15,006 15,006 15,006 — — Loans held for sale (1) 6,647 6,647 6,647 — — Loans, net 1,335,711 1,401,625 — — 1,401,625 Bank-owned life insurance (1) 33,474 33,474 33,474 — — Accrued interest receivable (1) 8,540 8,540 8,540 — — Financial liabilities: Interest-bearing deposits $ 1,057,562 $ 1,123,505 $ 807,449 $ — $ 316,056 Noninterest-bearing deposits (1) 434,248 434,248 434,248 — — Short-term borrowings (1) 15,009 15,009 15,009 — — Long-term borrowings 153,534 159,534 — — 159,534 Accrued interest payable (1) 1,491 1,491 1,491 — — (1) The financial instrument is carried at cost at September 30, 2020, which approximate the fair value of the instruments Carrying Fair Fair Value Measurements at December 31, 2019 (In Thousands) Value Value Level I Level II Level III Financial assets: Cash and cash equivalents (1) $ 48,589 $ 48,589 $ 48,589 $ — $ — Restricted investment in bank stock (1) 13,528 13,528 13,528 — — Loans held for sale (1) 4,232 4,232 4,232 — — Loans, net 1,343,650 1,346,395 — — 1,346,395 Bank-owned life insurance (1) 29,253 29,253 29,253 — — Accrued interest receivable (1) 5,246 5,246 5,246 — — Financial liabilities: Interest-bearing deposits $ 989,259 $ 990,747 $ 611,374 $ — $ 379,373 Noninterest-bearing deposits (1) 334,746 334,746 334,746 — — Short-term borrowings (1) 4,920 4,920 4,920 — — Long-term borrowings 161,920 163,931 — — 163,931 Accrued interest payable (1) 1,671 1,671 1,671 — — (1) The financial instrument is carried at cost at December 31, 2019, which approximate the fair value of the instruments

Stock Options (Tables)

Stock Options (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation, Stock Options Granted	Stock Options Granted Date Shares Forfeited Outstanding Strike Price Vesting Period Expiration March 11, 2020 119,300 — 119,300 $ 25.34 3 years 10 years March 11, 2020 119,200 — 119,200 25.34 5 years 10 years March 15, 2019 120,900 (1,950) 118,950 28.01 3 years 10 years March 15, 2019 119,100 (1,800) 117,300 28.01 5 years 10 years August 24, 2018 75,300 (1,950) 73,350 30.67 3 years 10 years August 24, 2018 149,250 (4,050) 145,200 30.67 5 years 10 years January 5, 2018 18,750 — 18,750 30.07 3 years 10 years January 5, 2018 18,750 — 18,750 30.07 5 years 10 years March 24, 2017 69,375 (6,750) 62,625 29.47 3 years 10 years March 24, 2017 35,625 — 35,625 29.47 5 years 10 years August 27, 2015 58,125 (22,875) 35,250 28.02 5 years 10 years A summary of stock option activity is presented below: September 30, 2020 September 30, 2019 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding, beginning of year 625,800 $ 29.29 395,550 $ 30.08 Granted 238,500 25.34 240,000 28.01 Exercised — — — — Forfeited — — — — Expired — — — — Outstanding, end of period 864,300 $ 28.20 635,550 $ 29.30 Exercisable, end of period 97,875 $ 28.95 — $ —

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Schedule of Assets and Liabilities	The following table shows finance lease right of use assets and finance lease liabilities as of: (In Thousands) Statement of Financial Condition classification September 30, 2020 December 31, 2019 Finance lease right of use assets Premises and equipment, net $ 5,307 $ 5,456 Finance lease liabilities Long-term borrowings 5,534 5,587
Schedule of Lease Cost, Term and Discount Rate	The following table shows the components of finance and operating lease expense for the three and six months ended June 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, (In Thousands) 2020 2019 2020 2019 Finance Lease Cost: Amortization of right-of-use asset $ 50 $ 65 $ 150 $ 194 Interest expense 53 56 159 168 Operating lease cost 76 99 243 271 Variable lease cost — 1 — 3 Total Lease Cost $ 179 $ 221 $ 552 $ 636 The following table shows the weighted average remaining lease term and weighted average discount rate for both operating and finance leases outstanding as of September 30, 2020. Operating Finance Weighted-average term (years) 18.4 27.4 Weighted-average discount rate 3.51 % 3.77 %
Schedule of Operating Lease Liability Maturities	A maturity analysis of operating and finance lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows: (In Thousands) Operating Finance 2020 $ 71 $ 70 2021 291 282 2022 298 283 2023 273 284 2024 263 290 2025 and thereafter 3,176 8,004 Total undiscounted cash flows 4,372 9,213 Discount on cash flows (1,153) (3,679) Total lease liability $ 3,219 $ 5,534
Schedule of Finance Lease Liability Maturities	A maturity analysis of operating and finance lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows: (In Thousands) Operating Finance 2020 $ 71 $ 70 2021 291 282 2022 298 283 2023 273 284 2024 263 290 2025 and thereafter 3,176 8,004 Total undiscounted cash flows 4,372 9,213 Discount on cash flows (1,153) (3,679) Total lease liability $ 3,219 $ 5,534

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Gain (loss) - Schedule of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 159,608	$ 151,521	$ 154,982	$ 143,544
Other comprehensive gain before reclassifications	1,046	996	2,949	4,784
Amounts reclassified from accumulated other comprehensive (loss) gain	(759)	(112)	(850)	(47)
Total other comprehensive income	287	884	2,099	4,737
Ending balance	162,429	155,061	162,429	155,061
Net Unrealized Gain on Available for Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	4,194	2,419	2,455	(1,360)
Other comprehensive gain before reclassifications	1,046	996	2,949	4,784
Amounts reclassified from accumulated other comprehensive (loss) gain	(800)	(149)	(964)	(158)
Total other comprehensive income	246	847	1,985	4,626
Ending balance	4,440	3,266	4,440	3,266
Defined Benefit  Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(5,159)	(5,202)	(5,232)	(5,276)
Other comprehensive gain before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive (loss) gain	41	37	114	111
Total other comprehensive income	41	37	114	111
Ending balance	(5,118)	(5,165)	(5,118)	(5,165)
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(965)	(2,783)	(2,777)	(6,636)
Total other comprehensive income	287	884	2,099	4,737
Ending balance	$ (678)	$ (1,899)	$ (678)	$ (1,899)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Gain (loss) - Schedule of Reclassifications out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Reclassifications out of accumulated other comprehensive income
Net unrealized gain on available for sale securities	$ 1,013	$ 189	$ 1,220	$ 200
Income tax effect	(1,051)	(1,170)	(2,563)	(2,741)
Net unrecognized pension costs	(5,465)	(5,488)	(16,362)	(16,512)
Net Income	4,472	4,650	11,305	12,839
Amount Reclassified from Accumulated Other Comprehensive Loss | Net unrealized gain on available for sale securities
Reclassifications out of accumulated other comprehensive income
Net unrealized gain on available for sale securities	1,013	189	1,220	200
Income tax effect	(213)	(40)	(256)	(42)
Net Income	800	149	964	158
Amount Reclassified from Accumulated Other Comprehensive Loss | Defined Benefit  Plan
Reclassifications out of accumulated other comprehensive income
Income tax effect	11	9	30	29
Net unrecognized pension costs	(52)	(46)	(144)	(140)
Net Income	$ (41)	$ (37)	$ (114)	$ (111)

Per Share Data - Narrative (Det

Per Share Data - Narrative (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Aug. 27, 2015
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Convertible securities which would affect denominator in calculating basic and dilutive earnings per share (in shares)			0
Options, outstanding (in shares)	864,300	635,550	864,300	635,550	625,800	395,550	35,250
Outstanding, weighted average exercise price (in dollars per share)	$ 28.20	$ 29.30	$ 28.20	$ 29.30	$ 29.29	$ 30.08
Average share price (in dollars per share)	$ 20.84	$ 28.44	$ 24.20	$ 28.44

Per Share Data - Composition of

Per Share Data - Composition of Weighted Average Common Shares Used in Earnings per Share Computation (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Weighted average common shares issued (in shares)	7,525,561	7,517,280	7,522,803	7,516,406
Weighted average treasury stock shares (in shares)	(480,225)	(480,225)	(480,225)	(480,225)
Weighted average shares outstanding - basic (in shares)	7,045,336	7,037,055	7,042,578	7,036,181
Dilutive effect of outstanding stock options (in shares)	0	0	0	0
Weighted average common shares outstanding - basic and diluted (in shares)	7,045,336	7,037,055	7,042,578	7,036,181

Investment Securities - Amortiz

Investment Securities - Amortized Cost and Fair Values of Investment Securities Available for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Available for sale (AFS):
Total	$ 144,055
Fair value	149,675	$ 148,619
Investment equity securities:
Fair value	1,291	1,261
Trading:
Fair value	35	51
Mortgage-backed securities
Available for sale (AFS):
Total	2,267	4,956
Gross unrealized gains	25	56
Gross unrealized losses	0	(46)
Fair value	2,292	4,966
State and political securities
Available for sale (AFS):
Total	84,873	79,064
Gross unrealized gains	5,136	3,299
Gross unrealized losses	(13)	(77)
Fair value	89,996	82,286
Other debt securities
Available for sale (AFS):
Total	56,915	61,492
Gross unrealized gains	969	401
Gross unrealized losses	(497)	(526)
Fair value	57,387	61,367
Total debt securities
Available for sale (AFS):
Total	144,055	145,512
Gross unrealized gains	6,130	3,756
Gross unrealized losses	(510)	(649)
Fair value	149,675	148,619
Other equity securities
Investment equity securities:
Amortized cost - total	1,300	1,300
Gross unrealized gains	11	0
Gross unrealized losses	(20)	(39)
Fair value	1,291	1,261
Trading:
Amortized cost - total	50	50
Gross unrealized gains	0	3
Gross unrealized losses	(15)	(2)
Fair value	$ 35	$ 51

Investment Securities - Gross U

Investment Securities - Gross Unrealized Losses and Fair Value by Investment Category (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Mortgage-backed securities
Investment securities
Fair value, less than twelve months	$ 0	$ 0
Gross unrealized losses, less than twelve months	0	0
Fair value, twelve months or greater	0	2,115
Gross unrealized losses, twelve months or greater	0	(46)
Fair value, total	0	2,115
Gross unrealized losses, total	0	(46)
State and political securities
Investment securities
Fair value, less than twelve months	4,179	7,958
Gross unrealized losses, less than twelve months	(6)	(40)
Fair value, twelve months or greater	904	224
Gross unrealized losses, twelve months or greater	(7)	(37)
Fair value, total	5,083	8,182
Gross unrealized losses, total	(13)	(77)
Other debt securities
Investment securities
Fair value, less than twelve months	9,682	13,373
Gross unrealized losses, less than twelve months	(260)	(216)
Fair value, twelve months or greater	3,271	14,258
Gross unrealized losses, twelve months or greater	(237)	(310)
Fair value, total	12,953	27,631
Gross unrealized losses, total	(497)	(526)
Total debt securities
Investment securities
Fair value, less than twelve months	13,861	21,331
Gross unrealized losses, less than twelve months	(266)	(256)
Fair value, twelve months or greater	4,175	16,597
Gross unrealized losses, twelve months or greater	(244)	(393)
Fair value, total	18,036	37,928
Gross unrealized losses, total	$ (510)	$ (649)

Investment Securities - Narrati

Investment Securities - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)security	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)security	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Investments, Debt and Equity Securities [Abstract]
Number of individual securities that were in a continuous unrealized loss position for less than twelve months (in securities) | security	18		18
Number of individual securities that were in a continuous unrealized loss position for greater than twelve months (in securities) | security	4		4
Gross proceeds from sales of securities	$ 32,089,000	$ 8,157,000	$ 37,252,000	$ 16,289,000
Impairment charges	0	$ 0	0	$ 0
Carrying value of investment securities pledged	124,542,000		124,542,000		$ 74,163,000
Fair value	$ 1,291,000		$ 1,291,000		$ 1,261,000

Investment Securities - Amort_2

Investment Securities - Amortized Cost and Fair Value of Debt Securities (Details) $ in Thousands	Sep. 30, 2020USD ($)
Amortized Cost
Due in one year or less	$ 10,744
Due after one year to five years	66,984
Due after five years to ten years	56,013
Due after ten years	10,314
Total	144,055
Fair Value
Due in one year or less	10,812
Due after one year to five years	68,131
Due after five years to ten years	60,132
Due after ten years	10,600
Total	$ 149,675

Investment Securities - Total G

Investment Securities - Total Gross Proceeds from Sales of Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Available for sale (AFS):
Available-for-sale securities, gross realized gains	$ 1,013	$ 190	$ 1,220	$ 208
Available-for-sale securities, gross realized losses	0	1	0	8
Mortgage-backed securities
Available for sale (AFS):
Available-for-sale securities, gross realized gains	0	0	83	0
State and political securities
Available for sale (AFS):
Available-for-sale securities, gross realized gains	839	190	943	204
Available-for-sale securities, gross realized losses	0	1	0	3
Other debt securities
Available for sale (AFS):
Available-for-sale securities, gross realized gains	174	0	194	4
Available-for-sale securities, gross realized losses	$ 0	$ 0	$ 0	$ 5

Investment Securities - Unreali

Investment Securities - Unrealized and Realized Gains and Losses Recognized in Net Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Net gains (losses) recognized in equity securities during the period(	$ 0	$ (21)	$ 30	$ 44
Less: Net gains realized on the sale of equity securities during the period	0	0	0	0
Unrealized gains recognized in equity securities held at reporting date	0	(21)	30	44
Debt Securities, Trading, Gain (Loss) [Abstract]
Net gains on sale transactions	0	0	0	8
Net mark-to-market (losses) gains	(2)	2	(16)	7
Net (loss) gain on trading account securities	$ (2)	$ 2	$ (16)	$ 15

Loans - Narrative (Details)

Loans - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)contractclasscategorycomponent	Sep. 30, 2019contract	Sep. 30, 2020USD ($)componentcontractcategoryclass	Sep. 30, 2019contract	Dec. 31, 2019USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable individually evaluated for impairment minimum amount			$ 100,000
Individually evaluated for impairment			$ 100,000
Payment delays limit (in days)			90 days
Period to classify TDR non performing loans to performing (in months)			6 months
Number of loan modifications | contract	0	1	0	5
Number of TDRs that defaulted | contract			2
Recorded investment	$ 12,218,000		$ 12,218,000		$ 13,282,000
Real estate acquired through foreclosure	376,000		376,000		493,000
Mortgage loans in process of foreclosure, amount	$ 446,000		$ 446,000		$ 32,000
Number of categories considered not criticized and rated as, Pass | category	6		6
Minimum period after which loans are considered as substandard (in days)			90 days
Number of components that represents the allowance for loan losses | component	2		2
Number of classes that groups of loans are collectively evaluated for impairment | class	2		2
Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of categories in which real estate loans segmented | category			3
Jersey Shore State Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amount after which external annual loan review of commercial relationships performed, minimum			$ 1,750,000
Commercial, financial, and agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan modifications | contract		0		2
Number of TDRs that defaulted | contract			1
Troubled debt restructuring, default amount			$ 640,000
Commercial | Real Estate Mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan modifications | contract		0		2
Number of TDRs that defaulted | contract			1
Troubled debt restructuring, default amount			$ 1,040,000
COVID-19 Modifications
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan modifications | contract			1,530
Number of loan modifications remaining | contract			1,395
Loan modifications, amount	$ 230,326,000		$ 230,326,000

Loans - Aging Categories of Loa

Loans - Aging Categories of Loans by Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Aging categories of loans by segment
Current	$ 1,333,509		$ 1,334,612
Past due 30 to 89 days	4,002		7,324
Past due 90 days or more & still accruing	791		2,047
Non-accrual	9,762		10,374
Total	1,348,064		1,354,357
Net deferred loan fees and discounts	1,076		1,187
Allowance for loan losses	(13,429)	$ (12,977)	(11,894)	$ (14,249)	$ (14,001)	$ (13,837)
Current loans, net	1,321,156		1,323,905
Loans, net	1,335,711		1,343,650
Commercial, financial, and agricultural
Aging categories of loans by segment
Current	171,344		153,737
Past due 30 to 89 days	245		249
Past due 90 days or more & still accruing	0		30
Non-accrual	1,565		2,197
Total	173,154		156,213
Allowance for loan losses	(1,979)	(1,953)	(1,779)	(1,786)	(1,584)	(1,680)
Real Estate Mortgages | Residential
Aging categories of loans by segment
Current	590,275		615,580
Past due 30 to 89 days	2,581		4,881
Past due 90 days or more & still accruing	595		1,529
Non-accrual	1,667		1,266
Total	595,118		623,256
Allowance for loan losses	(4,449)	(4,478)	(4,306)	(5,641)	(5,749)	(5,616)
Real Estate Mortgages | Commercial
Aging categories of loans by segment
Current	348,644		355,597
Past due 30 to 89 days	429		775
Past due 90 days or more & still accruing	196		164
Non-accrual	6,452		6,725
Total	355,721		363,261
Allowance for loan losses	(3,045)	(3,335)	(3,210)	(3,511)	(3,523)	(4,047)
Real Estate Mortgages | Construction
Aging categories of loans by segment
Current	43,142		37,871
Past due 30 to 89 days	0		131
Past due 90 days or more & still accruing	0		0
Non-accrual	58		65
Total	43,200		38,067
Allowance for loan losses	(170)	(150)	(118)	(156)	(132)	(143)
Consumer automobile loans
Aging categories of loans by segment
Current	159,810		149,703
Past due 30 to 89 days	374		709
Past due 90 days or more & still accruing	0		0
Non-accrual	17		105
Total	160,201		150,517
Allowance for loan losses	(1,997)	(2,214)	(1,780)	(1,374)	(1,435)	(1,328)
Other consumer installment loans
Aging categories of loans by segment
Current	20,294		22,124
Past due 30 to 89 days	373		579
Past due 90 days or more & still accruing	0		324
Non-accrual	3		16
Total	20,670		23,043
Allowance for loan losses	$ (255)	$ (127)	$ (278)	$ (242)	$ (240)	$ (259)

Loans - Interest Income (Detail

Loans - Interest Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Income That Would Have Been Recorded Based on Original Term and Rate	$ 68	$ 197	$ 186	$ 491
Interest Income Recorded on a Cash Basis	16	157	19	360
Commercial, financial, and agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Income That Would Have Been Recorded Based on Original Term and Rate	2	51	37	108
Interest Income Recorded on a Cash Basis	14	49	14	132
Real Estate Mortgages | Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Income That Would Have Been Recorded Based on Original Term and Rate	14	76	27	142
Interest Income Recorded on a Cash Basis	2	76	2	118
Real Estate Mortgages | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Income That Would Have Been Recorded Based on Original Term and Rate	52	68	116	233
Interest Income Recorded on a Cash Basis	0	30	0	104
Real Estate Mortgages | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Income That Would Have Been Recorded Based on Original Term and Rate	0	1	1	3
Interest Income Recorded on a Cash Basis	0	1	0	3
Consumer automobile loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Income That Would Have Been Recorded Based on Original Term and Rate	0	0	2	3
Interest Income Recorded on a Cash Basis	0	0	3	2
Other consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Income That Would Have Been Recorded Based on Original Term and Rate	0	1	3	2
Interest Income Recorded on a Cash Basis	$ 0	$ 1	$ 0	$ 1

Loans - Recorded Investment, Un

Loans - Recorded Investment, Unpaid Principal Balance, Related Allowance of Impaired Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	$ 10,298	$ 12,393
Recorded investment, with an allowance recorded	4,379	4,854
Recorded investment	14,677	17,247
Unpaid principal balance, with no related allowance recorded	13,085	15,180
Unpaid principal balance, with an allowance recorded	4,379	4,936
Unpaid principal balance	17,464	20,116
Related allowance	1,107	1,393
Commercial, financial, and agricultural
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	1,820	2,285
Recorded investment, with an allowance recorded	15	0
Recorded investment	1,835	2,285
Unpaid principal balance, with no related allowance recorded	4,607	5,072
Unpaid principal balance, with an allowance recorded	15	0
Unpaid principal balance	4,622	5,072
Related allowance	0	0
Real Estate Mortgages | Residential
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	4,305	5,008
Recorded investment, with an allowance recorded	1,272	1,168
Recorded investment	5,577	6,176
Unpaid principal balance, with no related allowance recorded	4,305	5,008
Unpaid principal balance, with an allowance recorded	1,272	1,200
Unpaid principal balance	5,577	6,208
Related allowance	187	211
Real Estate Mortgages | Commercial
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	4,113	5,035
Recorded investment, with an allowance recorded	3,092	3,540
Recorded investment	7,205	8,575
Unpaid principal balance, with no related allowance recorded	4,113	5,035
Unpaid principal balance, with an allowance recorded	3,092	3,590
Unpaid principal balance	7,205	8,625
Related allowance	920	1,104
Real Estate Mortgages | Construction
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	60	65
Recorded investment, with an allowance recorded	0	0
Recorded investment	60	65
Unpaid principal balance, with no related allowance recorded	60	65
Unpaid principal balance, with an allowance recorded	0	0
Unpaid principal balance	60	65
Related allowance	0	0
Consumer automobile loans
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	0	0
Recorded investment, with an allowance recorded	0	130
Recorded investment	0	130
Unpaid principal balance, with no related allowance recorded	0	0
Unpaid principal balance, with an allowance recorded	0	130
Unpaid principal balance	0	130
Related allowance	0	62
Installment loans to individuals
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	0	0
Recorded investment, with an allowance recorded	0	16
Recorded investment	0	16
Unpaid principal balance, with no related allowance recorded	0	0
Unpaid principal balance, with an allowance recorded	0	16
Unpaid principal balance	0	16
Related allowance	$ 0	$ 16

Loans - Average Recorded Invest

Loans - Average Recorded Investment - Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	$ 13,448	$ 19,391	$ 15,136	$ 20,034
Interest Income Recognized on an Accrual Basis on Impaired Loans	168	57	331	175
Interest Income Recognized on a Cash Basis on Impaired Loans	16	157	19	350
Commercial, financial, and agricultural
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	1,543	5,236	1,849	5,269
Interest Income Recognized on an Accrual Basis on Impaired Loans	33	1	34	3
Interest Income Recognized on a Cash Basis on Impaired Loans	14	49	14	131
Real Estate Mortgages | Residential
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	5,117	5,006	5,535	4,584
Interest Income Recognized on an Accrual Basis on Impaired Loans	63	26	177	81
Interest Income Recognized on a Cash Basis on Impaired Loans	2	76	2	115
Real Estate Mortgages | Commercial
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	6,587	9,037	7,577	10,053
Interest Income Recognized on an Accrual Basis on Impaired Loans	71	30	118	91
Interest Income Recognized on a Cash Basis on Impaired Loans	0	31	0	100
Real Estate Mortgages | Construction
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	54	70	60	72
Interest Income Recognized on an Accrual Basis on Impaired Loans	1	0	1	0
Interest Income Recognized on a Cash Basis on Impaired Loans	0	1	0	3
Consumer automobile loans
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	147	37	111	45
Interest Income Recognized on an Accrual Basis on Impaired Loans	0	0	1	0
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0	3	1
Other consumer installment loans
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	0	5	4	11
Interest Income Recognized on an Accrual Basis on Impaired Loans	0	0	0	0
Interest Income Recognized on a Cash Basis on Impaired Loans	$ 0	$ 0	$ 0	$ 0

Loans - Loan Modifications (Det

Loans - Loan Modifications (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020contract	Sep. 30, 2019USD ($)contract	Sep. 30, 2020contract	Sep. 30, 2019USD ($)contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	0	1	0	5
Pre-Modification Outstanding Recorded Investment		$ 2,059		$ 8,935
Post-Modification Outstanding Recorded Investment		$ 2,059		$ 8,935
Commercial, financial, and agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract		0		2
Pre-Modification Outstanding Recorded Investment		$ 0		$ 4,014
Post-Modification Outstanding Recorded Investment		$ 0		$ 4,014
Real Estate Mortgages | Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract		1		1
Pre-Modification Outstanding Recorded Investment		$ 2,059		$ 2,059
Post-Modification Outstanding Recorded Investment		$ 2,059		$ 2,059
Real Estate Mortgages | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract		0		2
Pre-Modification Outstanding Recorded Investment		$ 0		$ 2,862
Post-Modification Outstanding Recorded Investment		$ 0		$ 2,862

Loans - Credit Quality Indicato

Loans - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Credit quality categories
Total	$ 1,348,064	$ 1,354,357
Pass
Credit quality categories
Total	1,324,405	1,328,050
Special Mention
Credit quality categories
Total	13,836	10,690
Substandard
Credit quality categories
Total	9,823	15,617
Commercial, financial, and agricultural
Credit quality categories
Total	173,154	156,213
Commercial, financial, and agricultural | Pass
Credit quality categories
Total	167,073	149,349
Commercial, financial, and agricultural | Special Mention
Credit quality categories
Total	4,516	3,174
Commercial, financial, and agricultural | Substandard
Credit quality categories
Total	1,565	3,690
Consumer automobile
Credit quality categories
Total	160,201	150,517
Consumer automobile | Pass
Credit quality categories
Total	160,184	150,517
Consumer automobile | Special Mention
Credit quality categories
Total	0	0
Consumer automobile | Substandard
Credit quality categories
Total	17	0
Other consumer installment loans
Credit quality categories
Total	20,670	23,043
Other consumer installment loans | Pass
Credit quality categories
Total	20,667	23,039
Other consumer installment loans | Special Mention
Credit quality categories
Total	0	0
Other consumer installment loans | Substandard
Credit quality categories
Total	3	4
Residential | Real Estate Mortgages
Credit quality categories
Total	595,118	623,256
Residential | Real Estate Mortgages | Pass
Credit quality categories
Total	592,131	618,350
Residential | Real Estate Mortgages | Special Mention
Credit quality categories
Total	1,320	2,436
Residential | Real Estate Mortgages | Substandard
Credit quality categories
Total	1,667	2,470
Commercial | Real Estate Mortgages
Credit quality categories
Total	355,721	363,261
Commercial | Real Estate Mortgages | Pass
Credit quality categories
Total	341,309	348,864
Commercial | Real Estate Mortgages | Special Mention
Credit quality categories
Total	7,960	5,080
Commercial | Real Estate Mortgages | Substandard
Credit quality categories
Total	6,452	9,317
Construction | Real Estate Mortgages
Credit quality categories
Total	43,200	38,067
Construction | Real Estate Mortgages | Pass
Credit quality categories
Total	43,041	37,931
Construction | Real Estate Mortgages | Special Mention
Credit quality categories
Total	40	0
Construction | Real Estate Mortgages | Substandard
Credit quality categories
Total	$ 119	$ 136

Loans - Allowance for Credit Lo

Loans - Allowance for Credit Losses on Financing Receivables (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Allowance for Loan Losses:
Beginning Balance	$ 12,977	$ 14,001	$ 11,894	$ 13,837
Charge-offs	(239)	(221)	(700)	(888)
Recoveries	46	109	195	265
Provision for loan losses	645	360	2,040	1,035
Ending Balance	13,429	14,249	13,429	14,249
Commercial, financial, and agricultural
Allowance for Loan Losses:
Beginning Balance	1,953	1,584	1,779	1,680
Charge-offs	0	0	(22)	(80)
Recoveries	9	43	32	84
Provision for loan losses	17	159	190	102
Ending Balance	1,979	1,786	1,979	1,786
Real Estate Mortgages | Residential
Allowance for Loan Losses:
Beginning Balance	4,478	5,749	4,306	5,616
Charge-offs	(6)	(114)	(174)	(251)
Recoveries	1	2	48	3
Provision for loan losses	(24)	4	269	273
Ending Balance	4,449	5,641	4,449	5,641
Real Estate Mortgages | Commercial
Allowance for Loan Losses:
Beginning Balance	3,335	3,523	3,210	4,047
Charge-offs	0	0	0	(150)
Recoveries	0	0	0	1
Provision for loan losses	(290)	(12)	(165)	(387)
Ending Balance	3,045	3,511	3,045	3,511
Real Estate Mortgages | Construction
Allowance for Loan Losses:
Beginning Balance	150	132	118	143
Charge-offs	0	0	0	0
Recoveries	0	2	5	10
Provision for loan losses	20	22	47	3
Ending Balance	170	156	170	156
Consumer automobile loans
Allowance for Loan Losses:
Beginning Balance	2,214	1,435	1,780	1,328
Charge-offs	(200)	(34)	(289)	(172)
Recoveries	10	14	17	74
Provision for loan losses	(27)	(41)	489	144
Ending Balance	1,997	1,374	1,997	1,374
Other consumer installment loans
Allowance for Loan Losses:
Beginning Balance	127	240	278	259
Charge-offs	(33)	(73)	(215)	(235)
Recoveries	26	48	93	93
Provision for loan losses	135	27	99	125
Ending Balance	255	242	255	242
Unallocated
Allowance for Loan Losses:
Beginning Balance	720	1,338	423	764
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provision for loan losses	814	201	1,111	775
Ending Balance	$ 1,534	$ 1,539	$ 1,534	$ 1,539

Loans - Schedule of Concentrati

Loans - Schedule of Concentration Risk (Details) - Owners of rental properties - Financing receivable	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Residential
Concentration Risk [Line Items]
Concentration of loans (as a percent)	16.29%	15.41%
Commercial
Concentration Risk [Line Items]
Concentration of loans (as a percent)	12.98%	12.19%

Loans - Allowance for Loan Loss

Loans - Allowance for Loan Losses (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$ 1,107		$ 1,393
Collectively evaluated for impairment	12,322		10,501
Total ending allowance balance	13,429	$ 12,977	11,894	$ 14,249	$ 14,001	$ 13,837
Loans:
Individually evaluated for impairment	14,677		17,247
Collectively evaluated for impairment	1,333,387		1,337,110
Total	1,348,064		1,354,357
Commercial, financial, and agricultural
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	1,979		1,779
Total ending allowance balance	1,979	1,953	1,779	1,786	1,584	1,680
Loans:
Individually evaluated for impairment	1,835		2,285
Collectively evaluated for impairment	171,319		153,928
Total	173,154		156,213
Real Estate Mortgages | Residential
Ending allowance balance attributable to loans:
Individually evaluated for impairment	187		211
Collectively evaluated for impairment	4,262		4,095
Total ending allowance balance	4,449	4,478	4,306	5,641	5,749	5,616
Loans:
Individually evaluated for impairment	5,577		6,176
Collectively evaluated for impairment	589,541		617,080
Total	595,118		623,256
Real Estate Mortgages | Commercial
Ending allowance balance attributable to loans:
Individually evaluated for impairment	920		1,104
Collectively evaluated for impairment	2,125		2,106
Total ending allowance balance	3,045	3,335	3,210	3,511	3,523	4,047
Loans:
Individually evaluated for impairment	7,205		8,575
Collectively evaluated for impairment	348,516		354,686
Total	355,721		363,261
Real Estate Mortgages | Construction
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	170		118
Total ending allowance balance	170	150	118	156	132	143
Loans:
Individually evaluated for impairment	60		65
Collectively evaluated for impairment	43,140		38,002
Total	43,200		38,067
Consumer automobile loans
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		62
Collectively evaluated for impairment	1,997		1,718
Total ending allowance balance	1,997	2,214	1,780	1,374	1,435	1,328
Loans:
Individually evaluated for impairment	0		130
Collectively evaluated for impairment	160,201		150,387
Total	160,201		150,517
Other consumer installment loans
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		16
Collectively evaluated for impairment	255		262
Total ending allowance balance	255	127	278	242	240	259
Loans:
Individually evaluated for impairment	0		16
Collectively evaluated for impairment	20,670		23,027
Total	20,670		23,043
Unallocated
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	1,534		423
Total ending allowance balance	$ 1,534	$ 720	$ 423	$ 1,539	$ 1,338	$ 764

Net Periodic Benefit Cost-Def_3

Net Periodic Benefit Cost-Defined Benefit Plans (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Net periodic benefit cost of the domestic non-contributory defined benefit plan
Interest cost	$ 161,000	$ 191,000	$ 481,000	$ 573,000
Expected return on plan assets	(330,000)	(248,000)	(956,000)	(746,000)
Amortization of net loss	52,000	46,000	144,000	140,000
Net periodic benefit	(117,000)	$ (11,000)	(331,000)	$ (33,000)
Expected contribution to Pension Plan (minimum)					$ 500,000
Employer contributions made to the defined benefit plan			1,250,000
Anticipated additional contributions anticipated during the remainder of the year (at least)	$ 250,000		$ 250,000

Employee Stock Purchase Plan (D

Employee Stock Purchase Plan (Details) - Employee Stock - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Employee Stock Purchase Plan
Number of shares allowed to be purchased by employees (in shares)	1,000,000
Purchase price of the shares with respect to market value (as a percent)	95.00%
Maximum percentage of base compensation	15.00%
Maximum market value	$ 12,000
Number of shares issued under the plan (in shares)	2,888	2,579

Off Balance Sheet Risk (Details

Off Balance Sheet Risk (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Off Balance Sheet Risk
Contract amounts representing credit risk	$ 208,237	$ 204,242
Commitments to extend credit
Off Balance Sheet Risk
Contract amounts representing credit risk	189,556	187,778
Standby letters of credit
Off Balance Sheet Risk
Contract amounts representing credit risk	$ 10,186	9,638
Coverage period for instrument (in years)	1 year
Credit exposure from the sale of assets with recourse
Off Balance Sheet Risk
Contract amounts representing credit risk	$ 8,495	$ 6,826

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Assets (Details) - Recurring - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Mortgage-backed securities
Fair Value Measurements [Abstract]
Total assets, fair value	$ 2,292	$ 4,966
State and political securities
Fair Value Measurements [Abstract]
Total assets, fair value	89,996	82,286
Other debt securities
Fair Value Measurements [Abstract]
Total assets, fair value	57,387	61,367
Other equity securities - Available for sale
Fair Value Measurements [Abstract]
Total assets, fair value	1,291	1,261
Other equity securities - Trading
Fair Value Measurements [Abstract]
Total assets, fair value	35	51
Level I | Mortgage-backed securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level I | State and political securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level I | Other debt securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level I | Other equity securities - Available for sale
Fair Value Measurements [Abstract]
Total assets, fair value	1,291	1,261
Level I | Other equity securities - Trading
Fair Value Measurements [Abstract]
Total assets, fair value	35	51
Level II | Mortgage-backed securities
Fair Value Measurements [Abstract]
Total assets, fair value	2,292	4,966
Level II | State and political securities
Fair Value Measurements [Abstract]
Total assets, fair value	89,996	82,286
Level II | Other debt securities
Fair Value Measurements [Abstract]
Total assets, fair value	57,387	61,367
Level II | Other equity securities - Available for sale
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level II | Other equity securities - Trading
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level III | Mortgage-backed securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level III | State and political securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level III | Other debt securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level III | Other equity securities - Available for sale
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level III | Other equity securities - Trading
Fair Value Measurements [Abstract]
Total assets, fair value	$ 0	$ 0

Fair Value Measurements - Non-R

Fair Value Measurements - Non-Recurring Assets (Details) - Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Impaired loans
Fair Value Measurements [Abstract]
Total assets, fair value	$ 12,910	$ 15,854
Impaired loans | Level I
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Impaired loans | Level II
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Impaired loans | Level III
Fair Value Measurements [Abstract]
Total assets, fair value	12,910	15,854
Other real estate owned
Fair Value Measurements [Abstract]
Total assets, fair value	376	413
Other real estate owned | Level I
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Other real estate owned | Level II
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Other real estate owned | Level III
Fair Value Measurements [Abstract]
Total assets, fair value	$ 376	$ 413

Fair Value Measurements - Signi

Fair Value Measurements - Significant Unobservable Inputs (Details) - Nonrecurring $ in Thousands	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Level III | Measurement input, temporary reduction In payment | Discounted cash flow | Minimum
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Impaired loans, measurement input percentage	0.03	0.17
Level III | Measurement input, temporary reduction In payment | Discounted cash flow | Maximum
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Impaired loans, measurement input percentage	(0.59)	(0.59)
Level III | Measurement input, temporary reduction In payment | Discounted cash flow | Weighted Average
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Impaired loans, measurement input percentage	(0.19)	(0.24)
Level III | Measurement input, appraised value | Appraisal of collateral
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Other real estate owned, measurement input percentage	(0.20)	(0.20)
Level III | Measurement input, appraised value | Appraisal of collateral | Minimum
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Impaired loans, measurement input percentage	0	0
Level III | Measurement input, appraised value | Appraisal of collateral | Maximum
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Impaired loans, measurement input percentage	(0.30)	(0.30)
Level III | Measurement input, appraised value | Appraisal of collateral | Weighted Average
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Impaired loans, measurement input percentage	(0.08)	(0.09)
Other real estate owned, measurement input percentage	(0.20)	(0.20)
Level III | Measurement input, default rate | Discounted cash flow
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Impaired loans measurement input	0
Impaired loans
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Total assets, fair value	$ 12,910	$ 15,854
Impaired loans | Level III
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Total assets, fair value	12,910	15,854
Impaired loans | Level III | Discounted cash flow
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Total assets, fair value	5,604	6,950
Impaired loans | Level III | Appraisal of collateral
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Total assets, fair value	7,306	8,904
Other real estate owned
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Total assets, fair value	376	413
Other real estate owned | Level III
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Total assets, fair value	376	413
Other real estate owned | Level III | Appraisal of collateral
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Total assets, fair value	$ 376	$ 413

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Financial assets:
Restricted investment in bank stock, at fair value	$ 15,006	$ 13,528
Bank-owned life insurance	33,474	29,253
Accrued interest receivable	8,540	5,246
Financial liabilities:
Interest-bearing deposits	1,057,562	989,259
Noninterest-bearing deposits	434,248	334,746
Level I
Financial assets:
Cash and cash equivalents	226,272	48,589
Restricted investment in bank stock, at fair value	15,006	13,528
Loans held for sale	6,647	4,232
Loans, net	0	0
Bank-owned life insurance	33,474	29,253
Accrued interest receivable	8,540	5,246
Financial liabilities:
Interest-bearing deposits	807,449	611,374
Noninterest-bearing deposits	434,248	334,746
Short-term borrowings	15,009	4,920
Long-term borrowings	0	0
Accrued interest payable	1,491	1,671
Level II
Financial assets:
Cash and cash equivalents	0	0
Restricted investment in bank stock, at fair value	0	0
Loans held for sale	0	0
Loans, net	0	0
Bank-owned life insurance	0	0
Accrued interest receivable	0	0
Financial liabilities:
Interest-bearing deposits	0	0
Noninterest-bearing deposits	0	0
Short-term borrowings	0	0
Long-term borrowings	0	0
Accrued interest payable	0	0
Level III
Financial assets:
Cash and cash equivalents	0	0
Restricted investment in bank stock, at fair value	0	0
Loans held for sale	0	0
Loans, net	1,401,625	1,346,395
Bank-owned life insurance	0	0
Accrued interest receivable	0	0
Financial liabilities:
Interest-bearing deposits	316,056	379,373
Noninterest-bearing deposits	0	0
Short-term borrowings	0	0
Long-term borrowings	159,534	163,931
Accrued interest payable	0	0
Carrying Value
Financial assets:
Cash and cash equivalents	226,272	48,589
Restricted investment in bank stock, at fair value	15,006	13,528
Loans held for sale	6,647	4,232
Loans, net	1,335,711	1,343,650
Bank-owned life insurance	33,474	29,253
Accrued interest receivable	8,540	5,246
Financial liabilities:
Interest-bearing deposits	1,057,562	989,259
Noninterest-bearing deposits	434,248	334,746
Short-term borrowings	15,009	4,920
Long-term borrowings	153,534	161,920
Accrued interest payable	1,491	1,671
Fair Value
Financial assets:
Cash and cash equivalents	226,272	48,589
Restricted investment in bank stock, at fair value	15,006	13,528
Loans held for sale	6,647	4,232
Loans, net	1,401,625	1,346,395
Bank-owned life insurance	33,474	29,253
Accrued interest receivable	8,540	5,246
Financial liabilities:
Interest-bearing deposits	1,123,505	990,747
Noninterest-bearing deposits	434,248	334,746
Short-term borrowings	15,009	4,920
Long-term borrowings	159,534	163,931
Accrued interest payable	$ 1,491	$ 1,671

Stock Options - Narrative (Deta

Stock Options - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 11, 2020	Mar. 15, 2019	Aug. 24, 2018	Jan. 05, 2018	Mar. 24, 2017	Aug. 27, 2015	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Employee Stock Purchase Plan
Options, outstanding (in shares)						35,250	864,300	635,550	864,300	635,550	625,800	395,550
Granted (in shares)						58,125			238,500	240,000
Granted (in dollars per share)						$ 28.02			$ 25.34	$ 28.01
Exercisable period (in years)						5 years
Expiration (in years)						10 years
Employee Stock Option
Employee Stock Purchase Plan
Expiration (in years)									10 years
Compensation expense							$ 239	$ 185	$ 675	$ 498
Number of exercisable options (in shares)							97,875		97,875
Weighted average remaining contractual term (in years)									8 years 2 months 1 day
Fair value of options granted									$ 1,343
Fair value of options granted (in dollars per share)									$ 5.63
Unrecognized compensation cost for non-vested shares							$ 2,165		$ 2,165
Period for recognition (in years)									1 year 5 months 12 days
Tranche One
Employee Stock Purchase Plan
Options, outstanding (in shares)	119,300	118,950	73,350	18,750	62,625
Granted (in shares)	119,300	120,900	75,300	18,750	69,375				119,300
Granted (in dollars per share)	$ 25.34	$ 28.01	$ 30.67	$ 30.07	$ 29.47
Exercisable period (in years)	3 years	3 years	3 years	3 years	3 years
Expiration (in years)	10 years	10 years	10 years	10 years	10 years
Tranche One | Employee Stock Option
Employee Stock Purchase Plan
Exercisable period (in years)									3 years
Tranche Two
Employee Stock Purchase Plan
Options, outstanding (in shares)	119,200	117,300	145,200	18,750	35,625
Granted (in shares)	119,200	119,100	149,250	18,750	35,625				119,200
Granted (in dollars per share)	$ 25.34	$ 28.01	$ 30.67	$ 30.07	$ 29.47
Exercisable period (in years)	5 years	5 years	5 years	5 years	5 years
Expiration (in years)	10 years	10 years	10 years	10 years	10 years
Tranche Two | Employee Stock Option
Employee Stock Purchase Plan
Exercisable period (in years)									5 years

Stock Options - Schedule of Sto

Stock Options - Schedule of Stock Options Granted (Details) - $ / shares	Mar. 11, 2020	Mar. 15, 2019	Aug. 24, 2018	Jan. 05, 2018	Mar. 24, 2017	Aug. 27, 2015	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Employee Stock Purchase Plan
Shares (in shares)						58,125	238,500	240,000
Forfeited (in shares)						(22,875)	0	0
Outstanding (in shares)						35,250	864,300	635,550	625,800	395,550
Strike price (in dollars per share)						$ 28.02	$ 25.34	$ 28.01
Vesting period (in years)						5 years
Expiration (in years)						10 years
Tranche One
Employee Stock Purchase Plan
Shares (in shares)	119,300	120,900	75,300	18,750	69,375		119,300
Forfeited (in shares)	0	(1,950)	(1,950)	0	(6,750)
Outstanding (in shares)	119,300	118,950	73,350	18,750	62,625
Strike price (in dollars per share)	$ 25.34	$ 28.01	$ 30.67	$ 30.07	$ 29.47
Vesting period (in years)	3 years	3 years	3 years	3 years	3 years
Expiration (in years)	10 years	10 years	10 years	10 years	10 years
Tranche Two
Employee Stock Purchase Plan
Shares (in shares)	119,200	119,100	149,250	18,750	35,625		119,200
Forfeited (in shares)	0	(1,800)	(4,050)	0	0
Outstanding (in shares)	119,200	117,300	145,200	18,750	35,625
Strike price (in dollars per share)	$ 25.34	$ 28.01	$ 30.67	$ 30.07	$ 29.47
Vesting period (in years)	5 years	5 years	5 years	5 years	5 years
Expiration (in years)	10 years	10 years	10 years	10 years	10 years

Stock Options - Schedule of Opt

Stock Options - Schedule of Options Outstanding (Details) - $ / shares	Aug. 27, 2015	Sep. 30, 2020	Sep. 30, 2019
Shares
Outstanding, beginning of year (in shares)		625,800	395,550
Granted (in shares)	58,125	238,500	240,000
Exercised (in shares)		0	0
Forfeited (in shares)	(22,875)	0	0
Expired (in shares)		0	0
Outstanding, end of period (in shares)	35,250	864,300	635,550
Exercisable, end of period (in shares)		97,875	0
Weighted Average Exercise Price
Outstanding, weighted average exercise price (in dollars per share)		$ 29.29	$ 30.08
Granted (in dollars per share)	$ 28.02	25.34	28.01
Exercised (in dollars per share)		0	0
Forfeited (in dollars per share)		0	0
Expired (in dollars per share)		0	0
Outstanding, weighted average exercise price (in dollars per share)		28.20	29.30
Exercisable, end of period (in dollars per share)		$ 28.95	$ 0

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Finance lease right of use assets	$ 5,307	$ 5,456
Finance lease liabilities	$ 5,534	$ 5,587

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Finance Lease Cost:
Amortization of right-of-use asset	$ 50	$ 65	$ 150	$ 194
Interest expense	53	56	159	168
Operating lease cost	76	99	243	271
Variable lease cost	0	1	0	3
Total Lease Cost	$ 179	$ 221	$ 552	$ 636

Leases - Maturity Schedule (Det

Leases - Maturity Schedule (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Operating
2020	$ 71
2021	291
2022	298
2023	273
2024	263
2025 and thereafter	3,176
Total undiscounted cash flows	4,372
Discount on cash flows	(1,153)
Total lease liability	3,219	$ 4,170
Finance
2020	70
2021	282
2022	283
2023	284
2024	290
2025 and thereafter	8,004
Total undiscounted cash flows	9,213
Discount on cash flows	(3,679)
Total lease liability	$ 5,534

Leases - Weighted Average Term

Leases - Weighted Average Term and Discount Rate (Details)	Sep. 30, 2020
Operating
Weighted-average term (years)	18 years 4 months 24 days
Weighted-average discount rate	3.51%
Finance
Weighted-average term (years)	27 years 4 months 24 days
Weighted-average discount rate	3.77%

Reclassification of Comparati_2

Reclassification of Comparative Amounts (Details)	9 Months Ended
	Sep. 30, 2020USD ($)
Reclassification of Comparative Amounts
Effect of reclassification adjustment on net income or shareholders' equity	$ 0