Penns Woods Bancorp (PWOD) 10-Q 10 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	May 01, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
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	Non-accelerated Filer
Smaller Reporting Company	true
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		7,060,829
Entity Central Index Key	0000716605
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEET (UNA

CONSOLIDATED BALANCE SHEET (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
ASSETS:
Noninterest-bearing balances	$ 28,539	$ 31,821
Interest-bearing balances in other financial institutions	249,149	181,537
Total cash and cash equivalents	277,688	213,358
Investment debt securities, available for sale, at fair value	166,895	162,261
Investment equity securities, at fair value	1,265	1,288
Investment securities, trading	44	40
Restricted investment in bank stock, at fair value	15,032	15,377
Loans held for sale	2,568	5,239
Loans	1,335,899	1,344,327
Allowance for loan losses	(14,202)	(13,803)
Loans, net	1,321,697	1,330,524
Premises and equipment, net	34,910	32,702
Accrued interest receivable	8,583	8,394
Bank-owned life insurance	33,839	33,638
Goodwill	17,104	17,104
Intangibles	618	671
Operating lease right-of-use asset	3,088	3,136
Deferred tax asset	3,717	2,526
Other assets	9,144	8,385
TOTAL ASSETS	1,896,192	1,834,643
LIABILITIES:
Interest-bearing deposits	1,085,448	1,045,086
Noninterest-bearing deposits	478,916	449,357
Total deposits	1,564,364	1,494,443
Short-term borrowings	6,650	5,244
Long-term borrowings	141,094	153,475
Accrued interest payable	988	1,112
Operating lease liability	3,130	3,175
Other liabilities	15,903	13,048
TOTAL LIABILITIES	1,732,129	1,670,497
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; 7,537,242 and 7,532,576 shares issued; 7,057,017 and 7,052,351 outstanding	41,873	41,847
Additional paid-in capital	52,818	52,523
Retained earnings	83,948	82,769
Accumulated other comprehensive loss:
Net unrealized gain on available for sale securities	3,095	4,714
Defined benefit plan	(5,560)	(5,596)
Treasury stock at cost, 480,225	(12,115)	(12,115)
TOTAL PENNS WOODS BANCORP, INC. SHAREHOLDERS' EQUITY	164,059	164,142
Non-controlling interest	4	4
TOTAL SHAREHOLDERS' EQUITY	164,063	164,146
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,896,192	$ 1,834,643

CONSOLIDATED BALANCE SHEET (U_2

CONSOLIDATED BALANCE SHEET (UNAUDITED) (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
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)	7,537,242	7,532,576
Common stock, shares outstanding (in shares)	7,057,017	7,052,351
Treasury stock (in shares)	480,225	480,225

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
INTEREST AND DIVIDEND INCOME:
Loans, including fees	$ 13,345	$ 14,657
Investment securities:
Taxable	819	1,010
Tax-exempt	171	145
Dividend and other interest income	260	349
TOTAL INTEREST AND DIVIDEND INCOME	14,595	16,161
INTEREST EXPENSE:
Deposits	1,684	3,035
Short-term borrowings	2	22
Long-term borrowings	839	943
TOTAL INTEREST EXPENSE	2,525	4,000
NET INTEREST INCOME	12,070	12,161
PROVISION FOR LOAN LOSSES	515	750
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	11,555	11,411
NON-INTEREST INCOME:
Net debt securities gains, available for sale	138	21
Net equity securities (losses) gains	(23)	20
Net securities gains (losses), trading	4	(14)
Bank-owned life insurance	173	192
Gain on sale of loans	908	444
Other	275	455
TOTAL NON-INTEREST INCOME	2,614	2,437
NON-INTEREST EXPENSE:
Salaries and employee benefits	5,598	5,667
Occupancy	976	702
Furniture and equipment	809	860
Software amortization	198	250
Pennsylvania shares tax	352	285
Professional fees	583	622
Federal Deposit Insurance Corporation deposit insurance	221	194
Marketing	63	53
Intangible amortization	53	62
Other	1,098	1,415
TOTAL NON-INTEREST EXPENSE	9,951	10,110
INCOME BEFORE INCOME TAX PROVISION	4,218	3,738
INCOME TAX PROVISION	771	661
CONSOLIDATED NET INCOME	3,447	3,077
Less: Net income attributable to noncontrolling interest	6	4
NET INCOME ATTRIBUTABLE TO PENNS WOODS BANCORP, INC.	$ 3,441	$ 3,073
Earnings per share - basic (in dollars per share)	$ 0.49	$ 0.44
Earnings per share - diluted (in dollars per share)	$ 0.49	$ 0.43
Weighted average shares outstanding - basic (in shares)	7,055,116	7,040,740
Weighted average shares outstanding - diluted (in shares)	7,055,116	7,102,990
Dividends declared per share (in dollars per share)	$ 0.32	$ 0.32
Service charges
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card income	$ 383	$ 549
Insurance commissions
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card income	157	127
Brokerage commissions
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card income	219	369
Debit card income
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card income	$ 380	$ 274

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net Income	$ 3,441	$ 3,073
Other comprehensive (loss) income:
Change in unrealized (loss) gain on available for sale securities	(1,911)	694
Tax effect	401	(146)
Net realized gain on available for sale securities included in net income	(138)	(21)
Tax effect	29	4
Amortization of unrecognized pension gain	46	41
Tax effect	(10)	(8)
Total other comprehensive (loss) income	(1,583)	564
Comprehensive income	$ 1,858	$ 3,637

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, 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	3,077			3,073			4
Other comprehensive income (loss)	564				564
Stock-based compensation	198		198
Dividends declared	(2,253)			(2,253)
Common shares issued for employee stock purchase plan (in shares)		751
Common shares issued for employee stock purchase plan	20	$ 4	16
Ending balance (in shares) at Mar. 31, 2020		7,521,491
Ending balance at Mar. 31, 2020	156,588	$ 41,786	51,701	77,403	(2,213)	(12,115)	26
Beginning balance (in shares) at Dec. 31, 2020		7,532,576
Beginning balance at Dec. 31, 2020	164,146	$ 41,847	52,523	82,769	(882)	(12,115)	4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,447			3,441			6
Other comprehensive income (loss)	(1,583)				(1,583)
Stock-based compensation	220		220
Dividends declared	(2,262)			(2,262)
Common shares issued for employee stock purchase plan (in shares)		939
Common shares issued for employee stock purchase plan	20	$ 5	15
Director Compensation Plan (in shares)		3,727
Director Compensation Plan	81	$ 21	60
Distributions to noncontrolling interest	(6)						(6)
Ending balance (in shares) at Mar. 31, 2021		7,537,242
Ending balance at Mar. 31, 2021	$ 164,063	$ 41,873	$ 52,818	$ 83,948	$ (2,465)	$ (12,115)	$ 4

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in dollars per share)	$ 0.32	$ 0.32

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
OPERATING ACTIVITIES:
Net Income	$ 3,447	$ 3,077
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	839	760
Gain on sale of premise and equipment	0	(14)
Amortization of intangible assets	53	62
Provision for loan losses	515	750
Stock based compensation	220	198
Accretion and amortization of investment security discounts and premiums	251	171
Net securities gains, available for sale	(138)	(21)
Originations of loans held for sale	(26,658)	(14,977)
Proceeds of loans held for sale	30,237	15,359
Gain on sale of loans	(908)	(444)
Net equity securities losses (gains)	23	(20)
Net securities (gains) losses, trading	(4)	14
Earnings on bank-owned life insurance	(173)	(192)
Increase in deferred tax asset	(761)	(84)
Proceeds on sales of investment securities receivable	0	6,627
Other, net	2,447	(2,658)
Net cash provided by operating activities	9,390	8,608
INVESTING ACTIVITIES:
Proceeds from sales of available for sale securities	11,372	2,774
Proceeds from calls and maturities of available for sale securities	3,428	2,598
Purchases of available for sale securities	(21,955)	(11,753)
Net decrease in loans	8,312	5,861
Acquisition of premises and equipment	(197)	(1,547)
Proceeds from the sale of premises and equipment	0	336
Proceeds from the sale of foreclosed assets	246	226
Purchase of bank-owned life insurance	(26)	(26)
Proceeds from bank-owned life insurance death benefit	0	248
Investment in limited partnership	(711)	(370)
Proceeds from redemption of regulatory stock	1,082	1,139
Purchases of regulatory stock	(737)	(2,222)
Net cash used for investing activities	814	(2,736)
FINANCING ACTIVITIES:
Net increase in interest-bearing deposits	40,362	4,716
Net increase (decrease) in noninterest-bearing deposits	29,559	(1,987)
Proceeds from long-term borrowings	0	35,000
Repayment of long-term borrowings	(15,000)	(25,000)
Net increase in short-term borrowings	1,406	12,821
Finance lease principal payments	(34)	(17)
Dividends paid	(2,262)	(2,253)
Distributions to non-controlling interest	(6)	0
Issuance of common stock	101	20
Net cash provided by financing activities	54,126	23,300
NET INCREASE IN CASH AND CASH EQUIVALENTS	64,330	29,172
CASH AND CASH EQUIVALENTS, BEGINNING	213,358	48,589
CASH AND CASH EQUIVALENTS, ENDING	277,688	77,761
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid	2,649	4,036
Income taxes paid	0	0
Non-cash investing and financing activities:
Right-of-use lease assets obtained in exchange for lessee finance lease liabilities	2,653	0
Transfer of loans to foreclosed real estate	$ 0	$ 139

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
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, 2020. 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)	3 Months Ended
	Mar. 31, 2021
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 (loss) gain by component shown net of tax and parenthesis indicating debits, as of March 31, 2021 and 2020 were as follows: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In Thousands) Net Unrealized Gain (Loss) on Available for Sale Securities Defined Total Net Unrealized Gain (Loss) on Available Defined Total Beginning balance $ 4,714 $ (5,596) $ (882) $ 2,455 $ (5,232) $ (2,777) Other comprehensive (loss) gain before reclassifications (1,510) — (1,510) 548 — 548 Amounts reclassified from accumulated other comprehensive (loss) gain (109) 36 (73) (17) 33 16 Net current-period other comprehensive (loss) income (1,619) 36 (1,583) 531 33 564 Ending balance $ 3,095 $ (5,560) $ (2,465) $ 2,986 $ (5,199) $ (2,213) The reclassifications out of accumulated other comprehensive loss shown, net of tax and parenthesis indicating debits to net income, as of March 31, 2021 and 2020 were as follows: Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item Three months ended March 31, 2021 Three months ended March 31, 2020 Net unrealized gain on available for sale securities $ 138 $ 21 Net debt securities gains, available for sale Income tax effect (29) (4) Income tax provision Total reclassifications for the period $ 109 $ 17 Net unrecognized pension costs $ (46) $ (41) Other non-interest expense Income tax effect 10 8 Income tax provision Total reclassifications for the period $ (36) $ (33)

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
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 affected 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. This Update is effective 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. The Update is effective for smaller reporting companies and all other entities for 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 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. ASU 2019-04 makes clarifying amendments to certain financial instrument standards. For entities that have not yet adopted ASU 2016-13, the effective dates for the amendments related to ASU 2016-13 are the same as the effective dates in ASU 2016-13. For entities that have adopted ASU 2016-13, the amendments related to ASU 2016-13 are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For entities that have not yet adopted ASU 2017-12 as of April 25, 2019, the effective dates for the amendments to Topic 815 are the same as the effective dates in ASU 2017-12. For entities that have adopted ASU 2017-12 as of April 25, 2019, the effective date is as of the beginning of the first annual period beginning after April 25, 2019. The amendments related to ASU 2016-01 are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. 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 the credit losses standard, the ASU is effective when they implement the credit losses standard. For entities that already have adopted the credit losses standard, the ASU is effective for fiscal years beginning after December 15, 2019, 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 2019-11, 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. For entities that have not yet adopted ASU 2016-13 as of November 26, 2019, the effective dates for ASU 2019-11 are the same as the effective dates and transition requirements in ASU 2016-13. For entities that have adopted ASU 2016-13, ASU 2019-11 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company qualifies as a smaller reporting company and does not expect to early adopt these ASUs. In March 2020, the FASB issued ASU 2020-03, 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 2020-04, 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 the 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 2020-06, 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. In October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs, which clarifies that, for each reporting period, an entity should reevaluate whether a callable debt security is within the scope of ASC 310-20-35-33. For public business entities, ASU 2020-08 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early application is not permitted. For all other entities, ASU 2020-08 is 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 October 2020, the FASB issued ASU 2020-09, Debt (Topic 470): Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762, which codifies, as appropriate, the amended financial statement disclosure requirements in Regulation S-X Rules 13-01 and 13-02. The amendments are effective January 4, 2021. This Update did not have a significant impact on the Company’s financial statements. In October 2020, the FASB issued ASU 2020-10, Codification Improvements, which makes minor technical corrections and clarifications to the ASC. The amendments in Sections B and C of the ASU are effective for annual periods beginning after December 15, 2020, for public business entities. For all other entities, the amendments are effective for annual periods beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022. This Update is not expected to have a significant impact on the Company’s financial statements. In November 2020, the FASB issued ASU 2020-11, Financial Services – Insurance (Topic 944), which was made in consideration of the implications of the Coronavirus Disease 2019 (COVID-19) pandemic on an insurance entity’s ability to effectively implement the amendments in Accounting Standards Update No. 2018-12, Financial Services— Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI). The amendments in this Update defer the effective date of LDTI for all entities by one year, as (1) for public business entities that meet the definition of an SEC filer and are not SRCs, LDTI is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years; and (2) for all other entities, LDTI is effective for fiscal years beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2025. This Update is not expected to have a significant impact on the Company’s financial statements. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848), which provides optional temporary guidance for entities transitioning away from the London Interbank Offered Rate (LIBOR) and other interbank offered rates (IBORs) to new references rates so that derivatives affected by the discounting transition are explicitly eligible for certain optional expedients and exceptions within Topic 848. ASU 2021-01 clarifies that the derivatives affected by the discounting transition are explicitly eligible for certain optional expedients and exceptions in Topic 848. ASU 2021-01 is effective immediately for all entities. Entities may elect to apply the amendments on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final update, up to the date that financial statements are available to be issued. The amendments in this update do not apply to contract modifications made, as well as new hedging relationships entered into, after December 31, 2022, and to existing hedging relationships evaluated for effectiveness for periods after December 31, 2022, except for certain hedging relationships existing as of December 31, 2022, that apply certain optional expedients in which the accounting effects are recorded through the end of the hedging relationship. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations.

Per Share Data

Per Share Data	3 Months Ended
	Mar. 31, 2021
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 841,275 stock options, with an average exercise price of $28.17, outstanding on March 31, 2021. These options were excluded, on a weighted average basis, in the computation of diluted earnings per share for the three period due to the average market price of common shares of $20.21, respectively, exceeding the exercise price of the options issued. There were a total of 864,300 stock options, with an average exercise price of $29.20, outstanding on March 31, 2020. A portion of these options were included, on a weighted average basis, in the computation of diluted earnings per share for the period due to the average market price of common shares of $29.57 exceeding the exercise price of the options issued for all years except for 2017. Three Months Ended March 31, 2021 2020 Weighted average common shares issued 7,535,341 7,520,965 Weighted average treasury stock shares (480,225) (480,225) Weighted average common shares outstanding - basic 7,055,116 7,040,740 Dilutive effect of outstanding stock options — 62,250 Weighted average common shares outstanding - basic and diluted 7,055,116 7,102,990

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020 are as follows: March 31, 2021 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): Mortgage-backed securities $ 1,792 $ 4 $ — $ 1,796 State and political securities 109,662 4,132 (542) 113,252 Other debt securities 51,523 740 (416) 51,847 Total debt securities $ 162,977 $ 4,876 $ (958) $ 166,895 Investment equity securities: Other equity securities $ 1,300 $ 1 $ (36) $ 1,265 Trading: Other equity securities $ 50 $ — $ (6) $ 44 December 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): Mortgage-backed securities $ 2,118 $ 23 $ — $ 2,141 State and political securities 102,690 5,382 (59) 108,013 Other debt securities 51,486 828 (207) 52,107 Total debt securities $ 156,294 $ 6,233 $ (266) $ 162,261 Investment equity securities: Other equity securities $ 1,300 $ 10 $ (22) $ 1,288 Trading: Other equity securities $ 50 $ — $ (10) $ 40 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 March 31, 2021 and December 31, 2020. March 31, 2021 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): State and political securities $ 27,816 $ (532) $ 897 $ (10) $ 28,713 $ (542) Other debt securities 19,500 (289) 3,953 (127) 23,453 (416) Total debt securities $ 47,316 $ (821) $ 4,850 $ (137) $ 52,166 $ (958) December 31, 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): State and political securities $ 12,311 $ (51) $ 900 $ (8) $ 13,211 $ (59) Other debt securities 5,964 (74) 4,429 (133) 10,393 (207) Total debt securities $ 18,275 $ (125) $ 5,329 $ (141) $ 23,604 $ (266) At March 31, 2021, there were a total of 62 securities in a continuous unrealized loss position for less than twelve months and 7 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 March 31, 2021, 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 March 31, 2021, 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 $ 11,176 $ 11,158 Due after one year to five years 71,403 72,665 Due after five years to ten years 70,964 73,612 Due after ten years 9,434 9,460 Total $ 162,977 $ 166,895 Total gross proceeds from sales of debt securities available for sale for the three months ended March 31, 2021 was $11,372,000, compared to $2,774,000 for the corresponding 2020 periods. The following table represents gross realized gains and losses from the sales of debt securities available for sale: Three Months Ended March 31, (In Thousands) 2021 2020 Available for sale (AFS): Gross realized gains: State and political securities $ — $ 1 Other debt securities 138 20 Total gross realized gains $ 138 $ 21 Gross realized losses: State and political securities $ — $ — Other debt securities — — Total gross realized losses $ — $ — There were no impairment charges included in gross realized losses for the three months ended March 31, 2021 and 2020, respectively. Investment securities with a carrying value of approximately $109,699,000 and $111,247,000 at March 31, 2021 and December 31, 2020, respectively, were pledged to secure certain deposits, repurchase agreements, and for other purposes as required by law. At March 31, 2021 and December 31, 2020, we had $1,265,000 and $1,288,000, 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 months ended March 31, 2021 and 2020: Three Months Ended March 31, (In Thousands) 2021 2020 Net (losses) gains recognized in equity securities during the period $ (23) $ 20 Less: Net gains realized on the sale of equity securities during the period — — Unrealized gains recognized in equity securities held at reporting date $ (23) $ 20 Net gains and losses on trading account securities are as follows for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, (In Thousands) 2021 2020 Net gains on sale transactions $ — $ — Net mark-to-market gains (losses) 4 (14) Net gain (loss) on trading account securities $ 4 $ (14)

Loans

Loans	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020: March 31, 2021 Past Due Past Due 90 30 To 89 Days Or More Non- (In Thousands) Current Days & Still Accruing Accrual Total Commercial, financial, and agricultural $ 181,171 $ 23 $ 2 $ 863 $ 182,059 Real estate mortgage: Residential 575,008 2,513 476 1,739 579,736 Commercial 357,225 584 57 5,859 363,725 Construction 39,604 128 — 53 39,785 Consumer automobile loans 149,917 316 72 151 150,456 Other consumer installment loans 19,241 417 — — 19,658 1,322,166 $ 3,981 $ 607 $ 8,665 1,335,419 Net deferred loan fees and discounts 480 480 Allowance for loan losses (14,202) (14,202) Loans, net $ 1,308,444 $ 1,321,697 December 31, 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 $ 163,583 $ 247 $ 48 $ 865 $ 164,743 Real estate mortgage: Residential 580,292 6,386 983 2,060 589,721 Commercial 366,363 533 150 6,142 373,188 Construction 38,587 667 — 55 39,309 Consumer automobile loans 155,472 900 31 — 156,403 Other consumer installment loans 19,485 455 — — 19,940 1,323,782 $ 9,188 $ 1,212 $ 9,122 1,343,304 Net deferred loan fees and discounts 1,023 1,023 Allowance for loan losses (13,803) (13,803) Loans, net $ 1,311,002 $ 1,330,524 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 months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (In Thousands) Interest Income That Interest Interest Income That Interest Commercial, financial, and agricultural $ 28 $ — $ 9 $ — Real estate mortgage: Residential 9 — 9 — Commercial 30 — 42 — Construction 1 — — — Consumer automobile loans — — 2 — Other consumer installment loans — — — — $ 68 $ — $ 62 $ — 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 March 31, 2021 and December 31, 2020: March 31, 2021 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 803 $ 3,590 $ — Real estate mortgage: Residential 4,626 4,626 — Commercial 5,886 5,886 — Construction 120 120 — Consumer automobile loans — — — Installment loans to individuals — — — 11,435 14,222 — With an allowance recorded: Commercial, financial, and agricultural 60 60 1 Real estate mortgage: Residential 1,543 1,543 330 Commercial 5,841 5,841 1,638 Construction 8 8 1 Consumer automobile loans 201 201 73 Installment loans to individuals — — — 7,653 7,653 2,043 Total: Commercial, financial, and agricultural 863 3,650 1 Real estate mortgage: Residential 6,169 6,169 330 Commercial 11,727 11,727 1,638 Construction 128 128 1 Consumer automobile loans 201 201 73 Installment loans to individuals — — — $ 19,088 $ 21,875 $ 2,043 December 31, 2020 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 865 $ 3,652 $ — Real estate mortgage: Residential 5,023 5,023 — Commercial 6,354 6,354 — Construction 124 124 — Consumer automobile loans — — — Installment loans to individuals — — — 12,366 15,153 — With an allowance recorded: Commercial, financial, and agricultural — — — Real estate mortgage: Residential 1,294 1,294 224 Commercial 3,023 3,023 811 Construction — — — Consumer automobile loans — — — Installment loans to individuals — — — 4,317 4,317 1,035 Total: Commercial, financial, and agricultural 865 3,652 — Real estate mortgage: Residential 6,317 6,317 224 Commercial 9,377 9,377 811 Construction 124 124 — Consumer automobile loans — — — Installment loans to individuals — — — $ 16,683 $ 19,470 $ 1,035 The following table presents the average recorded investment in impaired loans and related interest income recognized for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (In Thousands) Average Interest Income Interest Income Average Interest Income Interest Income Commercial, financial, and agricultural $ 864 $ — $ — $ 2,155 $ 1 $ — Real estate mortgage: Residential 6,081 51 — 5,953 57 — Commercial 9,167 28 — 8,568 26 — Construction 122 — — 65 — — Consumer automobile 76 — — 76 — — Other consumer installment loans — — — 8 — — $ 16,310 $ 79 $ — $ 16,825 $ 84 $ — 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 two loan modifications considered to be TDRs completed during the three months ended March 31, 2021. There were no loan modifications considered TDRs completed during the three months ended March 31, 2020. Loan modifications that are considered TDRs completed during the three months ended March 31, 2021 were as follows: Three Months Ended March 31, 2021 (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 1 687 687 Commercial 1 125 125 Construction — — — 2 $ 812 $ 812 There was one loan modifications considered to be a TDR made during the twelve months previous to March 31, 2021 that defaulted during the three months ended March 31, 2021. The defaulted loan type and recorded investment at March 31, 2021 are as follows: one residential real estate loan with a recorded investment of $687,000. There were three loan modifications considered to be TDRs made during the twelve months previous to March 31, 2020 that defaulted during the three months ended March 31, 2020. The defaulted loan types and recorded investments at March 31, 2020 are as follows: one commercial real estate loan with a recorded investment of $1,040,000, and two commercial and agricultural loans with a recorded investment of $1,112,000. Troubled debt restructurings amounted to $13,294,000 and $12,359,000 as of March 31, 2021 and December 31, 2020, respectively. The amount of foreclosed residential real estate held at March 31, 2021 and December 31, 2020, totaled $68,000 and $401,000, respectively. Consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process at March 31, 2021 and December 31, 2020, totaled $421,000 and $629,154, 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 March 31, 2021, the loan modification/deferral program in place has generated deferrals of up to 180 days that have been granted on 1,365 loans with 70 loans remaining in their deferral period with an aggregate outstanding balance of $12,345,000. These loan modifications met applicable requirements to not be considered troubled debt restructurings. The Economic Aid to Hard-Hit Small Businesses, Non-profits and Venues Act (the “Economic Aid Act”) passed in December 2020 extended the CARES Act provisions permitting financial institutions to suspend TDR assessment and reporting requirements under generally accepted accounting principles until the earlier of 60 days after the date that the President terminates the COVID-19 national emergency or January 1, 2022. 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 2021 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 March 31, 2021 and December 31, 2020: March 31, 2021 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 180,038 $ 574,785 $ 343,898 $ 39,595 $ 150,456 $ 19,658 $ 1,308,430 Special Mention 180 2,474 9,253 — — — 11,907 Substandard 1,841 2,477 10,574 190 — — 15,082 $ 182,059 $ 579,736 $ 363,725 $ 39,785 $ 150,456 $ 19,658 $ 1,335,419 December 31, 2020 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 162,694 $ 584,599 $ 355,616 $ 39,192 $ 156,403 $ 19,938 $ 1,318,442 Special Mention 180 556 7,973 — — — 8,709 Substandard 1,869 4,566 9,599 117 — 2 16,153 $ 164,743 $ 589,721 $ 373,188 $ 39,309 $ 156,403 $ 19,940 $ 1,343,304 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 months ended March 31, 2021 and 2020: t Three Months Ended March 31, 2021 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,936 $ 4,460 $ 3,635 $ 134 $ 1,906 $ 261 $ 1,471 $ 13,803 Charge-offs (35) (14) — — (96) (29) — (174) Recoveries 5 3 — 5 17 28 — 58 Provision 700 (48) 541 3 (92) (25) (564) 515 Ending Balance $ 2,606 $ 4,401 $ 4,176 $ 142 $ 1,735 $ 235 $ 907 $ 14,202 Three Months Ended March 31, 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 (14) (41) — — (75) (100) — (230) Recoveries 21 21 — 2 1 41 — 86 Provision 111 251 204 40 149 48 (53) 750 Ending Balance $ 1,897 $ 4,537 $ 3,414 $ 160 $ 1,855 $ 267 $ 370 $ 12,500 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 which has caused an increase in the provision to the commericial segment of the portfolio. 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 March 31, 2021 and 2020: March 31, 2021 2020 Owners of residential rental properties 16.73 % 16.04 % Owners of commercial rental properties 13.66 % 12.53 % 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 March 31, 2021 and December 31, 2020: March 31, 2021 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 $ 1 $ 330 $ 1,638 $ 1 $ 73 $ — $ — $ 2,043 Collectively evaluated for impairment 2,605 4,071 2,538 141 1,662 235 907 12,159 Total ending allowance balance $ 2,606 $ 4,401 $ 4,176 $ 142 $ 1,735 $ 235 $ 907 $ 14,202 Loans: Individually evaluated for impairment $ 863 $ 6,169 $ 11,727 $ 128 $ 201 $ — $ 19,088 Collectively evaluated for impairment 181,196 573,567 351,998 39,657 150,255 19,658 1,316,331 Total ending loans balance $ 182,059 $ 579,736 $ 363,725 $ 39,785 $ 150,456 $ 19,658 $ 1,335,419 December 31, 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 $ — $ 224 $ 811 $ — $ — $ — $ — $ 1,035 Collectively evaluated for impairment 1,936 4,236 2,824 134 1,906 261 1,471 12,768 Total ending allowance balance $ 1,936 $ 4,460 $ 3,635 $ 134 $ 1,906 $ 261 $ 1,471 $ 13,803 Loans: Individually evaluated for impairment $ 865 $ 6,317 $ 9,377 $ 124 $ — $ — $ 16,683 Collectively evaluated for impairment 163,878 583,404 363,811 39,185 156,403 19,940 1,326,621 Total ending loans balance $ 164,743 $ 589,721 $ 373,188 $ 39,309 $ 156,403 $ 19,940 $ 1,343,304

Net Periodic Benefit Cost-Defin

Net Periodic Benefit Cost-Defined Benefit Plans	3 Months Ended
	Mar. 31, 2021
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, 2020. The following sets forth the components of the net periodic benefit/cost of the domestic non-contributory defined benefit plan for the three months ended March 31, 2021 and 2020, respectively: Three Months Ended March 31, (In Thousands) 2021 2020 Interest cost $ 127 $ 160 Expected return on plan assets (386) (318) Amortization of net loss 46 41 Net periodic benefit $ (213) $ (117) 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, 2020, that it expected to contribute a minimum of $500,000 to its defined benefit plan in 2021. As of March 31, 2021, there were contributions of $200,000 made to the plan with additional contributions of at least $300,000 anticipated during the remainder of 2021.

Employee Stock Purchase Plan

Employee Stock Purchase Plan	3 Months Ended
	Mar. 31, 2021
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 three months ended March 31, 2021 and 2020, there were 939 and 751 shares issued under the Plan, respectively.

Off-Balance Sheet Risk

Off-Balance Sheet Risk	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020: (In Thousands) March 31, 2021 December 31, 2020 Commitments to extend credit $ 216,331 $ 198,512 Standby letters of credit 10,091 10,120 Credit exposure from the sale of assets with recourse 9,634 9,182 $ 236,056 $ 217,814 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	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The 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 March 31, 2021 and December 31, 2020, 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. March 31, 2021 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: Mortgage-backed securities $ — $ 1,796 $ — $ 1,796 State and political securities — 113,252 — 113,252 Other debt securities — 51,847 — 51,847 Investment equity securities: Other equity securities 1,265 — — 1,265 Investment securities, trading: Other equity securities 44 — — 44 December 31, 2020 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: Mortgage-backed securities $ — $ 2,141 $ — $ 2,141 State and political securities — 108,013 — 108,013 Other debt securities — 52,107 — 52,107 Investment equity securities: Other equity securities 1,288 — — 1,288 Investment securities, trading: Other equity securities 40 — — 40 The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a non-recurring basis as of March 31, 2021 and December 31, 2020, 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. March 31, 2021 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 14,856 $ 14,856 Other real estate owned — — 68 68 December 31, 2020 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 15,648 $ 15,648 Other real estate owned — — 401 401 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 March 31, 2021 and December 31, 2020: March 31, 2021 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans $ 10,231 Discounted cash flow Temporary reduction in payment amount 3% to (63)% (15)% 4,625 Appraisal of collateral (1) Appraisal adjustments (1) —% to (30)% (4)% Other real estate owned $ 68 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, 2020 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans $ 8,624 Discounted cash flow Temporary reduction in payment amount 17% to (63)% (18)% 7,024 Appraisal of collateral (1) Appraisal adjustments (1) —% to (30)% (8)% Other real estate owned $ 401 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	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The 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 March 31, 2021 and December 31, 2020: Carrying Fair Fair Value Measurements at March 31, 2021 (In Thousands) Value Value Level I Level II Level III Financial assets: Cash and cash equivalents (1) $ 277,688 $ 277,688 $ 277,688 $ — $ — Restricted investment in bank stock (1) 15,032 15,032 15,032 — — Loans held for sale (1) 2,568 2,568 2,568 — — Loans, net 1,321,697 1,314,153 — — 1,314,153 Bank-owned life insurance (1) 33,839 33,839 33,839 — — Accrued interest receivable (1) 8,583 8,583 8,583 — — Financial liabilities: Interest-bearing deposits $ 1,085,448 $ 1,088,714 $ 839,452 $ — $ 249,262 Noninterest-bearing deposits (1) 478,916 478,916 478,916 — — Short-term borrowings (1) 6,650 6,650 6,650 — — Long-term borrowings 141,094 145,456 — — 145,456 Accrued interest payable (1) 988 988 988 — — (1) The financial instrument is carried at cost at March 31, 2021, which approximate the fair value of the instruments Carrying Fair Fair Value Measurements at December 31, 2020 (In Thousands) Value Value Level I Level II Level III Financial assets: Cash and cash equivalents (1) $ 213,358 $ 213,358 $ 213,358 $ — $ — Restricted investment in bank stock (1) 15,377 15,377 15,377 — — Loans held for sale (1) 5,239 5,239 5,239 — — Loans, net 1,330,524 1,339,993 — — 1,339,993 Bank-owned life insurance (1) 33,638 33,638 33,638 — — Accrued interest receivable (1) 8,394 8,394 8,394 — — Financial liabilities: Interest-bearing deposits $ 1,045,086 $ 1,048,281 $ 781,441 $ — $ 266,840 Noninterest-bearing deposits (1) 449,357 449,357 449,357 — — Short-term borrowings (1) 5,244 5,244 5,244 — — Long-term borrowings 153,475 159,575 — — 159,575 Accrued interest payable (1) 1,112 1,112 1,112 — — (1) The financial instrument is carried at cost at December 31, 2020, which approximate the fair value of the instruments The methods and assumptions used by the Company in estimating fair values of financial instruments at March 31, 2021 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	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock Options	Stock Options In 2020, the Company adopted the 2020 Equity Incentive Plan which replaced the 2014 Equity Incentive Plan that did not have any remaining shares available for issuance. The plans are designed to help the Company attract, retain, and motivate employees and non-employee directors. Incentive stock options, non-qualified stock options, restricted stock, restricted stock units, and other equity-based awards may be granted as part of the plan. As of January 1, 2021, the Company had a total of 841,275 stock options outstanding. The Company did not issue any stock options during the period ended March 31, 2021. Stock Options Granted Date Shares Forfeited Outstanding Strike Price Vesting Period Expiration March 11, 2020 119,300 — 119,300 $ 25.31 3 years 10 years March 11, 2020 119,200 — 119,200 25.31 5 years 10 years March 15, 2019 120,900 (5,700) 115,200 28.01 3 years 10 years March 15, 2019 119,100 (5,550) 113,550 28.01 5 years 10 years August 24, 2018 75,300 (5,250) 70,050 30.67 3 years 10 years August 24, 2018 149,250 (10,650) 138,600 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 (9,000) 60,375 29.47 3 years 10 years March 24, 2017 35,625 (2,250) 33,375 29.47 5 years 10 years August 27, 2015 58,125 (24,000) 34,125 28.02 5 years 10 years A summary of stock option activity is presented below: March 31, 2021 March 31, 2020 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding, beginning of year 841,275 $ 28.17 625,800 $ 29.29 Granted — — 238,500 25.34 Exercised — — — — Forfeited — — — — Expired — — — — Outstanding, end of period 841,275 $ 28.17 864,300 $ 29.20 Exercisable, end of period 113,250 $ 29.13 62,625 $ 29.47 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 $220,000 for the three months ended March 31, 2021 compared to $198,000

Leases

Leases	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 December 31, 2020 Finance lease right of use assets Premises and equipment, net $ 7,758 $ 5,257 Finance lease liabilities Long-term borrowings 8,094 5,475 The following table shows the components of finance and operating lease expense for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, (In Thousands) 2021 2020 Finance Lease Cost: Amortization of right-of-use asset $ 152 $ 50 Interest expense 71 53 Operating lease cost 76 91 Variable lease cost — — Total Lease Cost $ 299 $ 194 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 2021 $ 219 $ 314 2022 298 419 2023 273 421 2024 262 427 2025 265 929 2026 and thereafter 2,911 9,664 Total undiscounted cash flows 4,228 12,174 Discount on cash flows (1,098) (4,080) Total lease liability $ 3,130 $ 8,094 The following table shows the weighted average remaining lease term and weighted average discount rate for both operating and finance leases outstanding as of March 31, 2021. Operating Finance Weighted-average term (years) 18.1 25.1 Weighted-average discount rate 3.51 % 3.19 %
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 March 31, 2021 December 31, 2020 Finance lease right of use assets Premises and equipment, net $ 7,758 $ 5,257 Finance lease liabilities Long-term borrowings 8,094 5,475 The following table shows the components of finance and operating lease expense for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, (In Thousands) 2021 2020 Finance Lease Cost: Amortization of right-of-use asset $ 152 $ 50 Interest expense 71 53 Operating lease cost 76 91 Variable lease cost — — Total Lease Cost $ 299 $ 194 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 2021 $ 219 $ 314 2022 298 419 2023 273 421 2024 262 427 2025 265 929 2026 and thereafter 2,911 9,664 Total undiscounted cash flows 4,228 12,174 Discount on cash flows (1,098) (4,080) Total lease liability $ 3,130 $ 8,094 The following table shows the weighted average remaining lease term and weighted average discount rate for both operating and finance leases outstanding as of March 31, 2021. Operating Finance Weighted-average term (years) 18.1 25.1 Weighted-average discount rate 3.51 % 3.19 %

Reclassification of Comparative

Reclassification of Comparative Amounts	3 Months Ended
	Mar. 31, 2021
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	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsAll events subsequent to the date of the consolidated financial statements through May 10, 2021, 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.

Risks and Uncertainties

Risks and Uncertainties	3 Months Ended
	Mar. 31, 2021
Risks and Uncertainties [Abstract]
Risks and Uncertainties	Risks and Uncertainties The impact of COVID-19 on the Corporation’s financial results is evolving and uncertain. The pandemic and its associated impacts on trade, travel, employee productivity, unemployment and consumer spending has resulted in less economic activity and volatility and disruption in the financial markets. The ultimate extent of the impact of the COVID-19 pandemic on the Company 's business, financial condition, and results of operations is currently uncertain and will depend on various developments and other factors, including, among others, the duration and scope of the pandemic, as well as governmental, regulatory, and private sector responses to the pandemic, and the associated impacts on the economy, financial markets and our customers, employees, and vendors. While the full effects of the pandemic remain unknown, the Company is committed to supporting its customers, employees, and communities during this difficult time.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The 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, 2020.
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 affected 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. This Update is effective 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. The Update is effective for smaller reporting companies and all other entities for 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 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. ASU 2019-04 makes clarifying amendments to certain financial instrument standards. For entities that have not yet adopted ASU 2016-13, the effective dates for the amendments related to ASU 2016-13 are the same as the effective dates in ASU 2016-13. For entities that have adopted ASU 2016-13, the amendments related to ASU 2016-13 are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For entities that have not yet adopted ASU 2017-12 as of April 25, 2019, the effective dates for the amendments to Topic 815 are the same as the effective dates in ASU 2017-12. For entities that have adopted ASU 2017-12 as of April 25, 2019, the effective date is as of the beginning of the first annual period beginning after April 25, 2019. The amendments related to ASU 2016-01 are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. 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 the credit losses standard, the ASU is effective when they implement the credit losses standard. For entities that already have adopted the credit losses standard, the ASU is effective for fiscal years beginning after December 15, 2019, 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 2019-11, 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. For entities that have not yet adopted ASU 2016-13 as of November 26, 2019, the effective dates for ASU 2019-11 are the same as the effective dates and transition requirements in ASU 2016-13. For entities that have adopted ASU 2016-13, ASU 2019-11 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company qualifies as a smaller reporting company and does not expect to early adopt these ASUs. In March 2020, the FASB issued ASU 2020-03, 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 2020-04, 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 the 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 2020-06, 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. In October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs, which clarifies that, for each reporting period, an entity should reevaluate whether a callable debt security is within the scope of ASC 310-20-35-33. For public business entities, ASU 2020-08 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early application is not permitted. For all other entities, ASU 2020-08 is 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 October 2020, the FASB issued ASU 2020-09, Debt (Topic 470): Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762, which codifies, as appropriate, the amended financial statement disclosure requirements in Regulation S-X Rules 13-01 and 13-02. The amendments are effective January 4, 2021. This Update did not have a significant impact on the Company’s financial statements. In October 2020, the FASB issued ASU 2020-10, Codification Improvements, which makes minor technical corrections and clarifications to the ASC. The amendments in Sections B and C of the ASU are effective for annual periods beginning after December 15, 2020, for public business entities. For all other entities, the amendments are effective for annual periods beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022. This Update is not expected to have a significant impact on the Company’s financial statements. In November 2020, the FASB issued ASU 2020-11, Financial Services – Insurance (Topic 944), which was made in consideration of the implications of the Coronavirus Disease 2019 (COVID-19) pandemic on an insurance entity’s ability to effectively implement the amendments in Accounting Standards Update No. 2018-12, Financial Services— Insurance: Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI). The amendments in this Update defer the effective date of LDTI for all entities by one year, as (1) for public business entities that meet the definition of an SEC filer and are not SRCs, LDTI is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years; and (2) for all other entities, LDTI is effective for fiscal years beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2025. This Update is not expected to have a significant impact on the Company’s financial statements. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848), which provides optional temporary guidance for entities transitioning away from the London Interbank Offered Rate (LIBOR) and other interbank offered rates (IBORs) to new references rates so that derivatives affected by the discounting transition are explicitly eligible for certain optional expedients and exceptions within Topic 848. ASU 2021-01 clarifies that the derivatives affected by the discounting transition are explicitly eligible for certain optional expedients and exceptions in Topic 848. ASU 2021-01 is effective immediately for all entities. Entities may elect to apply the amendments on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final update, up to the date that financial statements are available to be issued. The amendments in this update do not apply to contract modifications made, as well as new hedging relationships entered into, after December 31, 2022, and to existing hedging relationships evaluated for effectiveness for periods after December 31, 2022, except for certain hedging relationships existing as of December 31, 2022, that apply certain optional expedients in which the accounting effects are recorded through the end of the hedging relationship. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Gain (loss) (Tables)	3 Months Ended
	Mar. 31, 2021
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 (loss) gain by component shown net of tax and parenthesis indicating debits, as of March 31, 2021 and 2020 were as follows: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 (In Thousands) Net Unrealized Gain (Loss) on Available for Sale Securities Defined Total Net Unrealized Gain (Loss) on Available Defined Total Beginning balance $ 4,714 $ (5,596) $ (882) $ 2,455 $ (5,232) $ (2,777) Other comprehensive (loss) gain before reclassifications (1,510) — (1,510) 548 — 548 Amounts reclassified from accumulated other comprehensive (loss) gain (109) 36 (73) (17) 33 16 Net current-period other comprehensive (loss) income (1,619) 36 (1,583) 531 33 564 Ending balance $ 3,095 $ (5,560) $ (2,465) $ 2,986 $ (5,199) $ (2,213)
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 March 31, 2021 and 2020 were as follows: Details about Accumulated Other Comprehensive Loss Components Amount Reclassified from Accumulated Other Comprehensive Loss Affected Line Item Three months ended March 31, 2021 Three months ended March 31, 2020 Net unrealized gain on available for sale securities $ 138 $ 21 Net debt securities gains, available for sale Income tax effect (29) (4) Income tax provision Total reclassifications for the period $ 109 $ 17 Net unrecognized pension costs $ (46) $ (41) Other non-interest expense Income tax effect 10 8 Income tax provision Total reclassifications for the period $ (36) $ (33)

Per Share Data (Tables)

Per Share Data (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of weighted average common shares (denominator) used in the basic and dilutive earnings per share computation	Three Months Ended March 31, 2021 2020 Weighted average common shares issued 7,535,341 7,520,965 Weighted average treasury stock shares (480,225) (480,225) Weighted average common shares outstanding - basic 7,055,116 7,040,740 Dilutive effect of outstanding stock options — 62,250 Weighted average common shares outstanding - basic and diluted 7,055,116 7,102,990

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020 are as follows: March 31, 2021 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): Mortgage-backed securities $ 1,792 $ 4 $ — $ 1,796 State and political securities 109,662 4,132 (542) 113,252 Other debt securities 51,523 740 (416) 51,847 Total debt securities $ 162,977 $ 4,876 $ (958) $ 166,895 Investment equity securities: Other equity securities $ 1,300 $ 1 $ (36) $ 1,265 Trading: Other equity securities $ 50 $ — $ (6) $ 44 December 31, 2020 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): Mortgage-backed securities $ 2,118 $ 23 $ — $ 2,141 State and political securities 102,690 5,382 (59) 108,013 Other debt securities 51,486 828 (207) 52,107 Total debt securities $ 156,294 $ 6,233 $ (266) $ 162,261 Investment equity securities: Other equity securities $ 1,300 $ 10 $ (22) $ 1,288 Trading: Other equity securities $ 50 $ — $ (10) $ 40
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 March 31, 2021 and December 31, 2020. March 31, 2021 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): State and political securities $ 27,816 $ (532) $ 897 $ (10) $ 28,713 $ (542) Other debt securities 19,500 (289) 3,953 (127) 23,453 (416) Total debt securities $ 47,316 $ (821) $ 4,850 $ (137) $ 52,166 $ (958) December 31, 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): State and political securities $ 12,311 $ (51) $ 900 $ (8) $ 13,211 $ (59) Other debt securities 5,964 (74) 4,429 (133) 10,393 (207) Total debt securities $ 18,275 $ (125) $ 5,329 $ (141) $ 23,604 $ (266)
Schedule of amortized cost and fair value of debt securities by contractual maturity	The amortized cost and fair value of debt securities at March 31, 2021, 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 $ 11,176 $ 11,158 Due after one year to five years 71,403 72,665 Due after five years to ten years 70,964 73,612 Due after ten years 9,434 9,460 Total $ 162,977 $ 166,895
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 March 31, (In Thousands) 2021 2020 Available for sale (AFS): Gross realized gains: State and political securities $ — $ 1 Other debt securities 138 20 Total gross realized gains $ 138 $ 21 Gross realized losses: State and political securities $ — $ — Other debt securities — — Total gross realized losses $ — $ —
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 months ended March 31, 2021 and 2020: Three Months Ended March 31, (In Thousands) 2021 2020 Net (losses) gains recognized in equity securities during the period $ (23) $ 20 Less: Net gains realized on the sale of equity securities during the period — — Unrealized gains recognized in equity securities held at reporting date $ (23) $ 20 Net gains and losses on trading account securities are as follows for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, (In Thousands) 2021 2020 Net gains on sale transactions $ — $ — Net mark-to-market gains (losses) 4 (14) Net gain (loss) on trading account securities $ 4 $ (14)

Loans (Tables)

Loans (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020: March 31, 2021 Past Due Past Due 90 30 To 89 Days Or More Non- (In Thousands) Current Days & Still Accruing Accrual Total Commercial, financial, and agricultural $ 181,171 $ 23 $ 2 $ 863 $ 182,059 Real estate mortgage: Residential 575,008 2,513 476 1,739 579,736 Commercial 357,225 584 57 5,859 363,725 Construction 39,604 128 — 53 39,785 Consumer automobile loans 149,917 316 72 151 150,456 Other consumer installment loans 19,241 417 — — 19,658 1,322,166 $ 3,981 $ 607 $ 8,665 1,335,419 Net deferred loan fees and discounts 480 480 Allowance for loan losses (14,202) (14,202) Loans, net $ 1,308,444 $ 1,321,697 December 31, 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 $ 163,583 $ 247 $ 48 $ 865 $ 164,743 Real estate mortgage: Residential 580,292 6,386 983 2,060 589,721 Commercial 366,363 533 150 6,142 373,188 Construction 38,587 667 — 55 39,309 Consumer automobile loans 155,472 900 31 — 156,403 Other consumer installment loans 19,485 455 — — 19,940 1,323,782 $ 9,188 $ 1,212 $ 9,122 1,343,304 Net deferred loan fees and discounts 1,023 1,023 Allowance for loan losses (13,803) (13,803) Loans, net $ 1,311,002 $ 1,330,524
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 months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (In Thousands) Interest Income That Interest Interest Income That Interest Commercial, financial, and agricultural $ 28 $ — $ 9 $ — Real estate mortgage: Residential 9 — 9 — Commercial 30 — 42 — Construction 1 — — — Consumer automobile loans — — 2 — Other consumer installment loans — — — — $ 68 $ — $ 62 $ —
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 March 31, 2021 and December 31, 2020: March 31, 2021 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 803 $ 3,590 $ — Real estate mortgage: Residential 4,626 4,626 — Commercial 5,886 5,886 — Construction 120 120 — Consumer automobile loans — — — Installment loans to individuals — — — 11,435 14,222 — With an allowance recorded: Commercial, financial, and agricultural 60 60 1 Real estate mortgage: Residential 1,543 1,543 330 Commercial 5,841 5,841 1,638 Construction 8 8 1 Consumer automobile loans 201 201 73 Installment loans to individuals — — — 7,653 7,653 2,043 Total: Commercial, financial, and agricultural 863 3,650 1 Real estate mortgage: Residential 6,169 6,169 330 Commercial 11,727 11,727 1,638 Construction 128 128 1 Consumer automobile loans 201 201 73 Installment loans to individuals — — — $ 19,088 $ 21,875 $ 2,043 December 31, 2020 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 865 $ 3,652 $ — Real estate mortgage: Residential 5,023 5,023 — Commercial 6,354 6,354 — Construction 124 124 — Consumer automobile loans — — — Installment loans to individuals — — — 12,366 15,153 — With an allowance recorded: Commercial, financial, and agricultural — — — Real estate mortgage: Residential 1,294 1,294 224 Commercial 3,023 3,023 811 Construction — — — Consumer automobile loans — — — Installment loans to individuals — — — 4,317 4,317 1,035 Total: Commercial, financial, and agricultural 865 3,652 — Real estate mortgage: Residential 6,317 6,317 224 Commercial 9,377 9,377 811 Construction 124 124 — Consumer automobile loans — — — Installment loans to individuals — — — $ 16,683 $ 19,470 $ 1,035
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 months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (In Thousands) Average Interest Income Interest Income Average Interest Income Interest Income Commercial, financial, and agricultural $ 864 $ — $ — $ 2,155 $ 1 $ — Real estate mortgage: Residential 6,081 51 — 5,953 57 — Commercial 9,167 28 — 8,568 26 — Construction 122 — — 65 — — Consumer automobile 76 — — 76 — — Other consumer installment loans — — — 8 — — $ 16,310 $ 79 $ — $ 16,825 $ 84 $ —
Schedule of Loan Modifications that are Considered TDRs	Loan modifications that are considered TDRs completed during the three months ended March 31, 2021 were as follows: Three Months Ended March 31, 2021 (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 1 687 687 Commercial 1 125 125 Construction — — — 2 $ 812 $ 812
Schedule of credit quality categories	The following table presents the credit quality categories identified above as of March 31, 2021 and December 31, 2020: March 31, 2021 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 180,038 $ 574,785 $ 343,898 $ 39,595 $ 150,456 $ 19,658 $ 1,308,430 Special Mention 180 2,474 9,253 — — — 11,907 Substandard 1,841 2,477 10,574 190 — — 15,082 $ 182,059 $ 579,736 $ 363,725 $ 39,785 $ 150,456 $ 19,658 $ 1,335,419 December 31, 2020 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 162,694 $ 584,599 $ 355,616 $ 39,192 $ 156,403 $ 19,938 $ 1,318,442 Special Mention 180 556 7,973 — — — 8,709 Substandard 1,869 4,566 9,599 117 — 2 16,153 $ 164,743 $ 589,721 $ 373,188 $ 39,309 $ 156,403 $ 19,940 $ 1,343,304
Schedule of activity in the allowance	Activity in the allowance is presented for the three months ended March 31, 2021 and 2020: t Three Months Ended March 31, 2021 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,936 $ 4,460 $ 3,635 $ 134 $ 1,906 $ 261 $ 1,471 $ 13,803 Charge-offs (35) (14) — — (96) (29) — (174) Recoveries 5 3 — 5 17 28 — 58 Provision 700 (48) 541 3 (92) (25) (564) 515 Ending Balance $ 2,606 $ 4,401 $ 4,176 $ 142 $ 1,735 $ 235 $ 907 $ 14,202 Three Months Ended March 31, 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 (14) (41) — — (75) (100) — (230) Recoveries 21 21 — 2 1 41 — 86 Provision 111 251 204 40 149 48 (53) 750 Ending Balance $ 1,897 $ 4,537 $ 3,414 $ 160 $ 1,855 $ 267 $ 370 $ 12,500
Schedule of concentration of loan	The Company has a concentration of the following to gross loans at March 31, 2021 and 2020: March 31, 2021 2020 Owners of residential rental properties 16.73 % 16.04 % Owners of commercial rental properties 13.66 % 12.53 %
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 March 31, 2021 and December 31, 2020: March 31, 2021 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 $ 1 $ 330 $ 1,638 $ 1 $ 73 $ — $ — $ 2,043 Collectively evaluated for impairment 2,605 4,071 2,538 141 1,662 235 907 12,159 Total ending allowance balance $ 2,606 $ 4,401 $ 4,176 $ 142 $ 1,735 $ 235 $ 907 $ 14,202 Loans: Individually evaluated for impairment $ 863 $ 6,169 $ 11,727 $ 128 $ 201 $ — $ 19,088 Collectively evaluated for impairment 181,196 573,567 351,998 39,657 150,255 19,658 1,316,331 Total ending loans balance $ 182,059 $ 579,736 $ 363,725 $ 39,785 $ 150,456 $ 19,658 $ 1,335,419 December 31, 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 $ — $ 224 $ 811 $ — $ — $ — $ — $ 1,035 Collectively evaluated for impairment 1,936 4,236 2,824 134 1,906 261 1,471 12,768 Total ending allowance balance $ 1,936 $ 4,460 $ 3,635 $ 134 $ 1,906 $ 261 $ 1,471 $ 13,803 Loans: Individually evaluated for impairment $ 865 $ 6,317 $ 9,377 $ 124 $ — $ — $ 16,683 Collectively evaluated for impairment 163,878 583,404 363,811 39,185 156,403 19,940 1,326,621 Total ending loans balance $ 164,743 $ 589,721 $ 373,188 $ 39,309 $ 156,403 $ 19,940 $ 1,343,304

Net Periodic Benefit Cost-Def_2

Net Periodic Benefit Cost-Defined Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2021
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 months ended March 31, 2021 and 2020, respectively: Three Months Ended March 31, (In Thousands) 2021 2020 Interest cost $ 127 $ 160 Expected return on plan assets (386) (318) Amortization of net loss 46 41 Net periodic benefit $ (213) $ (117)

Off-Balance Sheet Risk (Tables)

Off-Balance Sheet Risk (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020: (In Thousands) March 31, 2021 December 31, 2020 Commitments to extend credit $ 216,331 $ 198,512 Standby letters of credit 10,091 10,120 Credit exposure from the sale of assets with recourse 9,634 9,182 $ 236,056 $ 217,814

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020, 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. March 31, 2021 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: Mortgage-backed securities $ — $ 1,796 $ — $ 1,796 State and political securities — 113,252 — 113,252 Other debt securities — 51,847 — 51,847 Investment equity securities: Other equity securities 1,265 — — 1,265 Investment securities, trading: Other equity securities 44 — — 44 December 31, 2020 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: Mortgage-backed securities $ — $ 2,141 $ — $ 2,141 State and political securities — 108,013 — 108,013 Other debt securities — 52,107 — 52,107 Investment equity securities: Other equity securities 1,288 — — 1,288 Investment securities, trading: Other equity securities 40 — — 40
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 March 31, 2021 and December 31, 2020, 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. March 31, 2021 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 14,856 $ 14,856 Other real estate owned — — 68 68 December 31, 2020 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 15,648 $ 15,648 Other real estate owned — — 401 401
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 March 31, 2021 and December 31, 2020: March 31, 2021 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans $ 10,231 Discounted cash flow Temporary reduction in payment amount 3% to (63)% (15)% 4,625 Appraisal of collateral (1) Appraisal adjustments (1) —% to (30)% (4)% Other real estate owned $ 68 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, 2020 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans $ 8,624 Discounted cash flow Temporary reduction in payment amount 17% to (63)% (18)% 7,024 Appraisal of collateral (1) Appraisal adjustments (1) —% to (30)% (8)% Other real estate owned $ 401 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)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020: Carrying Fair Fair Value Measurements at March 31, 2021 (In Thousands) Value Value Level I Level II Level III Financial assets: Cash and cash equivalents (1) $ 277,688 $ 277,688 $ 277,688 $ — $ — Restricted investment in bank stock (1) 15,032 15,032 15,032 — — Loans held for sale (1) 2,568 2,568 2,568 — — Loans, net 1,321,697 1,314,153 — — 1,314,153 Bank-owned life insurance (1) 33,839 33,839 33,839 — — Accrued interest receivable (1) 8,583 8,583 8,583 — — Financial liabilities: Interest-bearing deposits $ 1,085,448 $ 1,088,714 $ 839,452 $ — $ 249,262 Noninterest-bearing deposits (1) 478,916 478,916 478,916 — — Short-term borrowings (1) 6,650 6,650 6,650 — — Long-term borrowings 141,094 145,456 — — 145,456 Accrued interest payable (1) 988 988 988 — — (1) The financial instrument is carried at cost at March 31, 2021, which approximate the fair value of the instruments Carrying Fair Fair Value Measurements at December 31, 2020 (In Thousands) Value Value Level I Level II Level III Financial assets: Cash and cash equivalents (1) $ 213,358 $ 213,358 $ 213,358 $ — $ — Restricted investment in bank stock (1) 15,377 15,377 15,377 — — Loans held for sale (1) 5,239 5,239 5,239 — — Loans, net 1,330,524 1,339,993 — — 1,339,993 Bank-owned life insurance (1) 33,638 33,638 33,638 — — Accrued interest receivable (1) 8,394 8,394 8,394 — — Financial liabilities: Interest-bearing deposits $ 1,045,086 $ 1,048,281 $ 781,441 $ — $ 266,840 Noninterest-bearing deposits (1) 449,357 449,357 449,357 — — Short-term borrowings (1) 5,244 5,244 5,244 — — Long-term borrowings 153,475 159,575 — — 159,575 Accrued interest payable (1) 1,112 1,112 1,112 — — (1) The financial instrument is carried at cost at December 31, 2020, which approximate the fair value of the instruments

Stock Options (Tables)

Stock Options (Tables)	3 Months Ended
	Mar. 31, 2021
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 $ 25.31 3 years 10 years March 11, 2020 119,200 — 119,200 25.31 5 years 10 years March 15, 2019 120,900 (5,700) 115,200 28.01 3 years 10 years March 15, 2019 119,100 (5,550) 113,550 28.01 5 years 10 years August 24, 2018 75,300 (5,250) 70,050 30.67 3 years 10 years August 24, 2018 149,250 (10,650) 138,600 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 (9,000) 60,375 29.47 3 years 10 years March 24, 2017 35,625 (2,250) 33,375 29.47 5 years 10 years August 27, 2015 58,125 (24,000) 34,125 28.02 5 years 10 years A summary of stock option activity is presented below: March 31, 2021 March 31, 2020 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding, beginning of year 841,275 $ 28.17 625,800 $ 29.29 Granted — — 238,500 25.34 Exercised — — — — Forfeited — — — — Expired — — — — Outstanding, end of period 841,275 $ 28.17 864,300 $ 29.20 Exercisable, end of period 113,250 $ 29.13 62,625 $ 29.47

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 December 31, 2020 Finance lease right of use assets Premises and equipment, net $ 7,758 $ 5,257 Finance lease liabilities Long-term borrowings 8,094 5,475
Schedule of Lease Cost, Term and Discount Rate	The following table shows the components of finance and operating lease expense for the three months ended March 31, 2021 and 2020: Three Months Ended March 31, (In Thousands) 2021 2020 Finance Lease Cost: Amortization of right-of-use asset $ 152 $ 50 Interest expense 71 53 Operating lease cost 76 91 Variable lease cost — — Total Lease Cost $ 299 $ 194 The following table shows the weighted average remaining lease term and weighted average discount rate for both operating and finance leases outstanding as of March 31, 2021. Operating Finance Weighted-average term (years) 18.1 25.1 Weighted-average discount rate 3.51 % 3.19 %
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 2021 $ 219 $ 314 2022 298 419 2023 273 421 2024 262 427 2025 265 929 2026 and thereafter 2,911 9,664 Total undiscounted cash flows 4,228 12,174 Discount on cash flows (1,098) (4,080) Total lease liability $ 3,130 $ 8,094
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 2021 $ 219 $ 314 2022 298 419 2023 273 421 2024 262 427 2025 265 929 2026 and thereafter 2,911 9,664 Total undiscounted cash flows 4,228 12,174 Discount on cash flows (1,098) (4,080) Total lease liability $ 3,130 $ 8,094

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Gain (loss) - Schedule of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 164,146	$ 154,982
Ending balance	164,063	156,588
Net Unrealized Gain (Loss) on Available for Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	4,714	2,455
Other comprehensive (loss) gain before reclassifications	(1,510)	548
Amounts reclassified from accumulated other comprehensive (loss) gain	(109)	(17)
Net current-period other comprehensive (loss) income	(1,619)	531
Ending balance	3,095	2,986
Defined Benefit  Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(5,596)	(5,232)
Other comprehensive (loss) gain before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive (loss) gain	36	33
Net current-period other comprehensive (loss) income	36	33
Ending balance	(5,560)	(5,199)
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(882)	(2,777)
Other comprehensive (loss) gain before reclassifications	(1,510)	548
Amounts reclassified from accumulated other comprehensive (loss) gain	(73)	16
Net current-period other comprehensive (loss) income	(1,583)	564
Ending balance	$ (2,465)	$ (2,213)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Gain (loss) - Schedule of Reclassifications out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Reclassifications out of accumulated other comprehensive income
Net unrealized gain on available for sale securities	$ 138	$ 21
Net unrecognized pension costs	(1,098)	(1,415)
Income tax effect	(771)	(661)
NET INCOME ATTRIBUTABLE TO PENNS WOODS BANCORP, INC.	3,441	3,073
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	138	21
Income tax effect	(29)	(4)
NET INCOME ATTRIBUTABLE TO PENNS WOODS BANCORP, INC.	109	17
Amount Reclassified from Accumulated Other Comprehensive Loss | Defined Benefit  Plan
Reclassifications out of accumulated other comprehensive income
Net unrecognized pension costs	(46)	(41)
Income tax effect	10	8
NET INCOME ATTRIBUTABLE TO PENNS WOODS BANCORP, INC.	$ (36)	$ (33)

Per Share Data - Narrative (Det

Per Share Data - Narrative (Details) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Aug. 27, 2015
Earnings Per Share [Abstract]
Convertible securities which would affect denominator in calculating basic and dilutive earnings per share (in shares)	0
Options, outstanding (in shares)	841,275	864,300	841,275	625,800	34,125
Outstanding, weighted average exercise price (in dollars per share)	$ 28.17	$ 29.20	$ 28.17	$ 29.29
Average share price (in dollars per share)	$ 20.21	$ 29.57

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
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Weighted average common shares issued (in shares)	7,535,341	7,520,965
Weighted average treasury stock shares (in shares)	(480,225)	(480,225)
Weighted average shares outstanding - basic (in shares)	7,055,116	7,040,740
Dilutive effect of outstanding stock options (in shares)	0	62,250
Weighted average common shares outstanding - basic and diluted (in shares)	7,055,116	7,102,990

Investment Securities - Amortiz

Investment Securities - Amortized Cost and Fair Values of Investment Securities Available for Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Available for sale (AFS):
Total	$ 162,977
Fair value	166,895	$ 162,261
Investment equity securities:
Fair value	1,265	1,288
Trading:
Fair value	44	40
Mortgage-backed securities
Available for sale (AFS):
Total	1,792	2,118
Gross unrealized gains	4	23
Gross unrealized losses	0	0
Fair value	1,796	2,141
State and political securities
Available for sale (AFS):
Total	109,662	102,690
Gross unrealized gains	4,132	5,382
Gross unrealized losses	(542)	(59)
Fair value	113,252	108,013
Other debt securities
Available for sale (AFS):
Total	51,523	51,486
Gross unrealized gains	740	828
Gross unrealized losses	(416)	(207)
Fair value	51,847	52,107
Total debt securities
Available for sale (AFS):
Total	162,977	156,294
Gross unrealized gains	4,876	6,233
Gross unrealized losses	(958)	(266)
Fair value	166,895	162,261
Other equity securities
Investment equity securities:
Amortized cost - total	1,300	1,300
Gross unrealized gains	1	10
Gross unrealized losses	(36)	(22)
Fair value	1,265	1,288
Trading:
Amortized cost - total	50	50
Gross unrealized gains	0	0
Gross unrealized losses	(6)	(10)
Fair value	$ 44	$ 40

Investment Securities - Gross U

Investment Securities - Gross Unrealized Losses and Fair Value by Investment Category (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
State and political securities
Investment securities
Fair value, less than twelve months	$ 27,816	$ 12,311
Gross unrealized losses, less than twelve months	(532)	(51)
Fair value, twelve months or greater	897	900
Gross unrealized losses, twelve months or greater	(10)	(8)
Fair value, total	28,713	13,211
Gross unrealized losses, total	(542)	(59)
Other debt securities
Investment securities
Fair value, less than twelve months	19,500	5,964
Gross unrealized losses, less than twelve months	(289)	(74)
Fair value, twelve months or greater	3,953	4,429
Gross unrealized losses, twelve months or greater	(127)	(133)
Fair value, total	23,453	10,393
Gross unrealized losses, total	(416)	(207)
Total debt securities
Investment securities
Fair value, less than twelve months	47,316	18,275
Gross unrealized losses, less than twelve months	(821)	(125)
Fair value, twelve months or greater	4,850	5,329
Gross unrealized losses, twelve months or greater	(137)	(141)
Fair value, total	52,166	23,604
Gross unrealized losses, total	$ (958)	$ (266)

Investment Securities - Narrati

Investment Securities - Narrative (Details)	3 Months Ended
	Mar. 31, 2021USD ($)security	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
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	62
Number of individual securities that were in a continuous unrealized loss position for greater than twelve months (in securities) | security	7
Gross proceeds from sales of securities	$ 11,372,000	$ 2,774,000
Impairment charges	0	$ 0
Carrying value of investment securities pledged	109,699,000		$ 111,247,000
Fair value	$ 1,265,000		$ 1,288,000

Investment Securities - Amort_2

Investment Securities - Amortized Cost and Fair Value of Debt Securities (Details) $ in Thousands	Mar. 31, 2021USD ($)
Amortized Cost
Due in one year or less	$ 11,176
Due after one year to five years	71,403
Due after five years to ten years	70,964
Due after ten years	9,434
Total	162,977
Fair Value
Due in one year or less	11,158
Due after one year to five years	72,665
Due after five years to ten years	73,612
Due after ten years	9,460
Total	$ 166,895

Investment Securities - Total G

Investment Securities - Total Gross Proceeds from Sales of Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Available for sale (AFS):
Available-for-sale securities, gross realized gains	$ 138	$ 21
Available-for-sale securities, gross realized losses	0	0
State and political securities
Available for sale (AFS):
Available-for-sale securities, gross realized gains	0	1
Available-for-sale securities, gross realized losses	0	0
Other debt securities
Available for sale (AFS):
Available-for-sale securities, gross realized gains	138	20
Available-for-sale securities, gross realized losses	$ 0	$ 0

Investment Securities - Unreali

Investment Securities - Unrealized and Realized Gains and Losses Recognized in Net Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Net (losses) gains recognized in equity securities during the period	$ (23)	$ 20
Less: Net gains realized on the sale of equity securities during the period	0	0
Unrealized gains recognized in equity securities held at reporting date	(23)	20
Debt Securities, Trading, Gain (Loss) [Abstract]
Net gains on sale transactions	0	0
Net mark-to-market gains (losses)	4	(14)
Net gain (loss) on trading account securities	$ 4	$ (14)

Loans - Narrative (Details)

Loans - Narrative (Details)	3 Months Ended
	Mar. 31, 2021USD ($)contractclasscomponentcategory	Mar. 31, 2020USD ($)contract	Dec. 31, 2020USD ($)
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 (in contracts) | contract	2	0
Number of TDRs that defaulted (in contracts) | contract	1	3
Recorded investment	$ 13,294,000		$ 12,359,000
Real estate acquired through foreclosure	68,000		401,000
Mortgage loans in process of foreclosure, amount	$ 421,000		$ 629,154
Number of categories considered not criticized and rated as pass (in categories) | category	6
Minimum period after which loans are considered as substandard (in days)	90 days
Number of components that represents the allowance for loan losses (in components) | component	2
Number of classes that groups of loans are collectively evaluated for impairment (in classes) | class	2
Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of categories in which real estate loans segmented (in categories) | 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 (in contracts) | contract	0
Number of TDRs that defaulted (in contracts) | contract		2
Troubled debt restructuring, default amount		$ 1,112,000
Commercial | Real Estate Mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan modifications (in contracts) | contract	1
Number of TDRs that defaulted (in contracts) | contract	1	1
Troubled debt restructuring, default amount	$ 687,000	$ 1,040,000
COVID-19 Modifications
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan modifications (in contracts) | contract	1,365
Number of loan modifications remaining (in contracts) | contract	70
Loan modifications, amount	$ 12,345,000

Loans - Aging Categories of Loa

Loans - Aging Categories of Loans by Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Aging categories of loans by segment
Current	$ 1,322,166	$ 1,323,782
Past due 30 to 89 days	3,981	9,188
Past due 90 days or more & still accruing	607	1,212
Non-accrual	8,665	9,122
Total	1,335,419	1,343,304
Net deferred loan fees and discounts	480	1,023
Allowance for loan losses	(14,202)	(13,803)	$ (12,500)	$ (11,894)
Current loans, net	1,308,444	1,311,002
Loans, net	1,321,697	1,330,524
Commercial, financial, and agricultural
Aging categories of loans by segment
Current	181,171	163,583
Past due 30 to 89 days	23	247
Past due 90 days or more & still accruing	2	48
Non-accrual	863	865
Total	182,059	164,743
Allowance for loan losses	(2,606)	(1,936)	(1,897)	(1,779)
Real Estate Mortgages | Residential
Aging categories of loans by segment
Current	575,008	580,292
Past due 30 to 89 days	2,513	6,386
Past due 90 days or more & still accruing	476	983
Non-accrual	1,739	2,060
Total	579,736	589,721
Allowance for loan losses	(4,401)	(4,460)	(4,537)	(4,306)
Real Estate Mortgages | Commercial
Aging categories of loans by segment
Current	357,225	366,363
Past due 30 to 89 days	584	533
Past due 90 days or more & still accruing	57	150
Non-accrual	5,859	6,142
Total	363,725	373,188
Allowance for loan losses	(4,176)	(3,635)	(3,414)	(3,210)
Real Estate Mortgages | Construction
Aging categories of loans by segment
Current	39,604	38,587
Past due 30 to 89 days	128	667
Past due 90 days or more & still accruing	0	0
Non-accrual	53	55
Total	39,785	39,309
Allowance for loan losses	(142)	(134)	(160)	(118)
Consumer automobile loans
Aging categories of loans by segment
Current	149,917	155,472
Past due 30 to 89 days	316	900
Past due 90 days or more & still accruing	72	31
Non-accrual	151	0
Total	150,456	156,403
Allowance for loan losses	(1,735)	(1,906)	(1,855)	(1,780)
Other consumer installment loans
Aging categories of loans by segment
Current	19,241	19,485
Past due 30 to 89 days	417	455
Past due 90 days or more & still accruing	0	0
Non-accrual	0	0
Total	19,658	19,940
Allowance for loan losses	$ (235)	$ (261)	$ (267)	$ (278)

Loans - Interest Income (Detail

Loans - Interest Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Income That Would Have Been Recorded Based on Original Term and Rate	$ 68	$ 62
Interest Income Recorded on a Cash Basis	0	0
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	28	9
Interest Income Recorded on a Cash Basis	0	0
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	9	9
Interest Income Recorded on a Cash Basis	0	0
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	30	42
Interest Income Recorded on a Cash Basis	0	0
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	1	0
Interest Income Recorded on a Cash Basis	0	0
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	2
Interest Income Recorded on a Cash Basis	0	0
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	0
Interest Income Recorded on a Cash Basis	$ 0	$ 0

Loans - Recorded Investment, Un

Loans - Recorded Investment, Unpaid Principal Balance, Related Allowance of Impaired Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	$ 11,435	$ 12,366
Recorded investment, with an allowance recorded	7,653	4,317
Recorded investment	19,088	16,683
Unpaid principal balance, with no related allowance recorded	14,222	15,153
Unpaid principal balance, with an allowance recorded	7,653	4,317
Unpaid principal balance	21,875	19,470
Related allowance	2,043	1,035
Commercial, financial, and agricultural
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	803	865
Recorded investment, with an allowance recorded	60	0
Recorded investment	863	865
Unpaid principal balance, with no related allowance recorded	3,590	3,652
Unpaid principal balance, with an allowance recorded	60	0
Unpaid principal balance	3,650	3,652
Related allowance	1	0
Real Estate Mortgages | Residential
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	4,626	5,023
Recorded investment, with an allowance recorded	1,543	1,294
Recorded investment	6,169	6,317
Unpaid principal balance, with no related allowance recorded	4,626	5,023
Unpaid principal balance, with an allowance recorded	1,543	1,294
Unpaid principal balance	6,169	6,317
Related allowance	330	224
Real Estate Mortgages | Commercial
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	5,886	6,354
Recorded investment, with an allowance recorded	5,841	3,023
Recorded investment	11,727	9,377
Unpaid principal balance, with no related allowance recorded	5,886	6,354
Unpaid principal balance, with an allowance recorded	5,841	3,023
Unpaid principal balance	11,727	9,377
Related allowance	1,638	811
Real Estate Mortgages | Construction
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	120	124
Recorded investment, with an allowance recorded	8	0
Recorded investment	128	124
Unpaid principal balance, with no related allowance recorded	120	124
Unpaid principal balance, with an allowance recorded	8	0
Unpaid principal balance	128	124
Related allowance	1	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	201	0
Recorded investment	201	0
Unpaid principal balance, with no related allowance recorded	0	0
Unpaid principal balance, with an allowance recorded	201	0
Unpaid principal balance	201	0
Related allowance	73	0
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	0
Recorded investment	0	0
Unpaid principal balance, with no related allowance recorded	0	0
Unpaid principal balance, with an allowance recorded	0	0
Unpaid principal balance	0	0
Related allowance	$ 0	$ 0

Loans - Average Recorded Invest

Loans - Average Recorded Investment - Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	$ 16,310	$ 16,825
Interest Income Recognized on an Accrual Basis on Impaired Loans	79	84
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0
Commercial, financial, and agricultural
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	864	2,155
Interest Income Recognized on an Accrual Basis on Impaired Loans	0	1
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0
Real Estate Mortgages | Residential
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	6,081	5,953
Interest Income Recognized on an Accrual Basis on Impaired Loans	51	57
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0
Real Estate Mortgages | Commercial
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	9,167	8,568
Interest Income Recognized on an Accrual Basis on Impaired Loans	28	26
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0
Real Estate Mortgages | Construction
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	122	65
Interest Income Recognized on an Accrual Basis on Impaired Loans	0	0
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0
Consumer automobile loans
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	76	76
Interest Income Recognized on an Accrual Basis on Impaired Loans	0	0
Interest Income Recognized on a Cash Basis on Impaired Loans	0	0
Other consumer installment loans
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	0	8
Interest Income Recognized on an Accrual Basis on Impaired Loans	0	0
Interest Income Recognized on a Cash Basis on Impaired Loans	$ 0	$ 0

Loans - Loan Modifications (Det

Loans - Loan Modifications (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)contract	Mar. 31, 2020contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	2	0
Pre-Modification Outstanding Recorded Investment	$ 812
Post-Modification Outstanding Recorded Investment	$ 812
Commercial, financial, and agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	0
Pre-Modification Outstanding Recorded Investment	$ 0
Post-Modification Outstanding Recorded Investment	$ 0
Real Estate Mortgages | Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	1
Pre-Modification Outstanding Recorded Investment	$ 687
Post-Modification Outstanding Recorded Investment	$ 687
Real Estate Mortgages | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	1
Pre-Modification Outstanding Recorded Investment	$ 125
Post-Modification Outstanding Recorded Investment	$ 125
Real Estate Mortgages | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of Contracts | contract	0
Pre-Modification Outstanding Recorded Investment	$ 0
Post-Modification Outstanding Recorded Investment	$ 0

Loans - Credit Quality Indicato

Loans - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Credit quality categories
Total	$ 1,335,419	$ 1,343,304
Pass
Credit quality categories
Total	1,308,430	1,318,442
Special Mention
Credit quality categories
Total	11,907	8,709
Substandard
Credit quality categories
Total	15,082	16,153
Commercial, financial, and agricultural
Credit quality categories
Total	182,059	164,743
Commercial, financial, and agricultural | Pass
Credit quality categories
Total	180,038	162,694
Commercial, financial, and agricultural | Special Mention
Credit quality categories
Total	180	180
Commercial, financial, and agricultural | Substandard
Credit quality categories
Total	1,841	1,869
Consumer automobile
Credit quality categories
Total	150,456	156,403
Consumer automobile | Pass
Credit quality categories
Total	150,456	156,403
Consumer automobile | Special Mention
Credit quality categories
Total	0	0
Consumer automobile | Substandard
Credit quality categories
Total	0	0
Other consumer installment loans
Credit quality categories
Total	19,658	19,940
Other consumer installment loans | Pass
Credit quality categories
Total	19,658	19,938
Other consumer installment loans | Special Mention
Credit quality categories
Total	0	0
Other consumer installment loans | Substandard
Credit quality categories
Total	0	2
Residential | Real Estate Mortgages
Credit quality categories
Total	579,736	589,721
Residential | Real Estate Mortgages | Pass
Credit quality categories
Total	574,785	584,599
Residential | Real Estate Mortgages | Special Mention
Credit quality categories
Total	2,474	556
Residential | Real Estate Mortgages | Substandard
Credit quality categories
Total	2,477	4,566
Commercial | Real Estate Mortgages
Credit quality categories
Total	363,725	373,188
Commercial | Real Estate Mortgages | Pass
Credit quality categories
Total	343,898	355,616
Commercial | Real Estate Mortgages | Special Mention
Credit quality categories
Total	9,253	7,973
Commercial | Real Estate Mortgages | Substandard
Credit quality categories
Total	10,574	9,599
Construction | Real Estate Mortgages
Credit quality categories
Total	39,785	39,309
Construction | Real Estate Mortgages | Pass
Credit quality categories
Total	39,595	39,192
Construction | Real Estate Mortgages | Special Mention
Credit quality categories
Total	0	0
Construction | Real Estate Mortgages | Substandard
Credit quality categories
Total	$ 190	$ 117

Loans - Allowance for Credit Lo

Loans - Allowance for Credit Losses on Financing Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Allowance for Loan Losses:
Beginning Balance	$ 13,803	$ 11,894
Charge-offs	(174)	(230)
Recoveries	58	86
Provision for loan losses	515	750
Ending Balance	14,202	12,500
Commercial, financial, and agricultural
Allowance for Loan Losses:
Beginning Balance	1,936	1,779
Charge-offs	(35)	(14)
Recoveries	5	21
Provision for loan losses	700	111
Ending Balance	2,606	1,897
Real Estate Mortgages | Residential
Allowance for Loan Losses:
Beginning Balance	4,460	4,306
Charge-offs	(14)	(41)
Recoveries	3	21
Provision for loan losses	(48)	251
Ending Balance	4,401	4,537
Real Estate Mortgages | Commercial
Allowance for Loan Losses:
Beginning Balance	3,635	3,210
Charge-offs	0	0
Recoveries	0	0
Provision for loan losses	541	204
Ending Balance	4,176	3,414
Real Estate Mortgages | Construction
Allowance for Loan Losses:
Beginning Balance	134	118
Charge-offs	0	0
Recoveries	5	2
Provision for loan losses	3	40
Ending Balance	142	160
Consumer automobile loans
Allowance for Loan Losses:
Beginning Balance	1,906	1,780
Charge-offs	(96)	(75)
Recoveries	17	1
Provision for loan losses	(92)	149
Ending Balance	1,735	1,855
Other consumer installment loans
Allowance for Loan Losses:
Beginning Balance	261	278
Charge-offs	(29)	(100)
Recoveries	28	41
Provision for loan losses	(25)	48
Ending Balance	235	267
Unallocated
Allowance for Loan Losses:
Beginning Balance	1,471	423
Charge-offs	0	0
Recoveries	0	0
Provision for loan losses	(564)	(53)
Ending Balance	$ 907	$ 370

Loans - Schedule of Concentrati

Loans - Schedule of Concentration Risk (Details) - Owners of rental properties - Financing receivable	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Residential
Concentration Risk [Line Items]
Concentration of loans (as a percent)	16.73%	16.04%
Commercial
Concentration Risk [Line Items]
Concentration of loans (as a percent)	13.66%	12.53%

Loans - Allowance for Loan Loss

Loans - Allowance for Loan Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$ 2,043	$ 1,035
Collectively evaluated for impairment	12,159	12,768
Total ending allowance balance	14,202	13,803	$ 12,500	$ 11,894
Loans:
Individually evaluated for impairment	19,088	16,683
Collectively evaluated for impairment	1,316,331	1,326,621
Total	1,335,419	1,343,304
Commercial, financial, and agricultural
Ending allowance balance attributable to loans:
Individually evaluated for impairment	1	0
Collectively evaluated for impairment	2,605	1,936
Total ending allowance balance	2,606	1,936	1,897	1,779
Loans:
Individually evaluated for impairment	863	865
Collectively evaluated for impairment	181,196	163,878
Total	182,059	164,743
Real Estate Mortgages | Residential
Ending allowance balance attributable to loans:
Individually evaluated for impairment	330	224
Collectively evaluated for impairment	4,071	4,236
Total ending allowance balance	4,401	4,460	4,537	4,306
Loans:
Individually evaluated for impairment	6,169	6,317
Collectively evaluated for impairment	573,567	583,404
Total	579,736	589,721
Real Estate Mortgages | Commercial
Ending allowance balance attributable to loans:
Individually evaluated for impairment	1,638	811
Collectively evaluated for impairment	2,538	2,824
Total ending allowance balance	4,176	3,635	3,414	3,210
Loans:
Individually evaluated for impairment	11,727	9,377
Collectively evaluated for impairment	351,998	363,811
Total	363,725	373,188
Real Estate Mortgages | Construction
Ending allowance balance attributable to loans:
Individually evaluated for impairment	1	0
Collectively evaluated for impairment	141	134
Total ending allowance balance	142	134	160	118
Loans:
Individually evaluated for impairment	128	124
Collectively evaluated for impairment	39,657	39,185
Total	39,785	39,309
Consumer automobile loans
Ending allowance balance attributable to loans:
Individually evaluated for impairment	73	0
Collectively evaluated for impairment	1,662	1,906
Total ending allowance balance	1,735	1,906	1,855	1,780
Loans:
Individually evaluated for impairment	201	0
Collectively evaluated for impairment	150,255	156,403
Total	150,456	156,403
Other consumer installment loans
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	235	261
Total ending allowance balance	235	261	267	278
Loans:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	19,658	19,940
Total	19,658	19,940
Unallocated
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	907	1,471
Total ending allowance balance	$ 907	$ 1,471	$ 370	$ 423

Net Periodic Benefit Cost-Def_3

Net Periodic Benefit Cost-Defined Benefit Plans (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Net periodic benefit cost of the domestic non-contributory defined benefit plan
Interest cost	$ 127,000	$ 160,000
Expected return on plan assets	(386,000)	(318,000)
Amortization of net loss	46,000	41,000
Net periodic benefit	(213,000)	$ (117,000)
Expected contribution to Pension Plan (minimum)			$ 500,000
Employer contributions made to the defined benefit plan	200,000
Anticipated additional contributions anticipated during the remainder of the year (at least)	$ 300,000

Employee Stock Purchase Plan (D

Employee Stock Purchase Plan (Details) - Employee Stock - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
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)	939	751

Off-Balance Sheet Risk (Details

Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Off Balance Sheet Risk
Contract amounts representing credit risk	$ 236,056	$ 217,814
Commitments to extend credit
Off Balance Sheet Risk
Contract amounts representing credit risk	216,331	198,512
Standby letters of credit
Off Balance Sheet Risk
Contract amounts representing credit risk	$ 10,091	10,120
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	$ 9,634	$ 9,182

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Assets (Details) - Recurring - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Mortgage-backed securities
Fair Value Measurements [Abstract]
Total assets, fair value	$ 1,796	$ 2,141
State and political securities
Fair Value Measurements [Abstract]
Total assets, fair value	113,252	108,013
Other debt securities
Fair Value Measurements [Abstract]
Total assets, fair value	51,847	52,107
Other equity securities
Fair Value Measurements [Abstract]
Total assets, fair value	1,265	1,288
Other equity securities
Fair Value Measurements [Abstract]
Total assets, fair value	44	40
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
Fair Value Measurements [Abstract]
Total assets, fair value	1,265	1,288
Level I | Other equity securities
Fair Value Measurements [Abstract]
Total assets, fair value	44	40
Level II | Mortgage-backed securities
Fair Value Measurements [Abstract]
Total assets, fair value	1,796	2,141
Level II | State and political securities
Fair Value Measurements [Abstract]
Total assets, fair value	113,252	108,013
Level II | Other debt securities
Fair Value Measurements [Abstract]
Total assets, fair value	51,847	52,107
Level II | Other equity securities
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level II | Other equity securities
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
Fair Value Measurements [Abstract]
Total assets, fair value	0	0
Level III | Other equity securities
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	Mar. 31, 2021	Dec. 31, 2020
Impaired loans
Fair Value Measurements [Abstract]
Total assets, fair value	$ 14,856	$ 15,648
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	14,856	15,648
Other real estate owned
Fair Value Measurements [Abstract]
Total assets, fair value	68	401
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	$ 68	$ 401

Fair Value Measurements - Signi

Fair Value Measurements - Significant Unobservable Inputs (Details) - Nonrecurring $ in Thousands	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
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	$ 10,231	$ 8,624
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	4,625	7,024
Other Real Estate	$ 68	$ 401
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	(0.63)	(0.63)
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	(0.15)	(0.18)
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	(0.04)	(0.08)
Other real estate owned, measurement input percentage	(0.20)	(0.20)
Level III | Measurement input, default rate
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	$ 14,856	$ 15,648
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	14,856	15,648
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	68	401
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	$ 68	$ 401

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financial assets:
Restricted investment in bank stock	$ 15,032	$ 15,377
Bank-owned life insurance	33,839	33,638
Accrued interest receivable	8,583	8,394
Financial liabilities:
Interest-bearing deposits	1,085,448	1,045,086
Noninterest-bearing deposits	478,916	449,357
Level I
Financial assets:
Cash and cash equivalents	277,688	213,358
Restricted investment in bank stock	15,032	15,377
Loans held for sale	2,568	5,239
Loans, net	0	0
Bank-owned life insurance	33,839	33,638
Accrued interest receivable	8,583	8,394
Financial liabilities:
Interest-bearing deposits	839,452	781,441
Noninterest-bearing deposits	478,916	449,357
Short-term borrowings	6,650	5,244
Long-term borrowings	0	0
Accrued interest payable	988	1,112
Level II
Financial assets:
Cash and cash equivalents	0	0
Restricted investment in bank stock	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	0	0
Loans held for sale	0	0
Loans, net	1,314,153	1,339,993
Bank-owned life insurance	0	0
Accrued interest receivable	0	0
Financial liabilities:
Interest-bearing deposits	249,262	266,840
Noninterest-bearing deposits	0	0
Short-term borrowings	0	0
Long-term borrowings	145,456	159,575
Accrued interest payable	0	0
Carrying Value
Financial assets:
Cash and cash equivalents	277,688	213,358
Restricted investment in bank stock	15,032	15,377
Loans held for sale	2,568	5,239
Loans, net	1,321,697	1,330,524
Bank-owned life insurance	33,839	33,638
Accrued interest receivable	8,583	8,394
Financial liabilities:
Interest-bearing deposits	1,085,448	1,045,086
Noninterest-bearing deposits	478,916	449,357
Short-term borrowings	6,650	5,244
Long-term borrowings	141,094	153,475
Accrued interest payable	988	1,112
Fair Value
Financial assets:
Cash and cash equivalents	277,688	213,358
Restricted investment in bank stock	15,032	15,377
Loans held for sale	2,568	5,239
Loans, net	1,314,153	1,339,993
Bank-owned life insurance	33,839	33,638
Accrued interest receivable	8,583	8,394
Financial liabilities:
Interest-bearing deposits	1,088,714	1,048,281
Noninterest-bearing deposits	478,916	449,357
Short-term borrowings	6,650	5,244
Long-term borrowings	145,456	159,575
Accrued interest payable	$ 988	$ 1,112

Stock Options - Narrative (Deta

Stock Options - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Aug. 27, 2015
Employee Stock Purchase Plan
Options, outstanding (in shares)	841,275	864,300	841,275	625,800	34,125
Employee Stock Option
Employee Stock Purchase Plan
Compensation expense	$ 220	$ 198
Number of exercisable options (in shares)	113,250
Weighted average remaining contractual term (in years)	7 years 8 months 8 days
Unrecognized compensation cost for non-vested shares	$ 1,671
Period for recognition (in years)	1 year 3 months 7 days

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	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Employee Stock Purchase Plan
Shares (in shares)						58,125	0	238,500
Forfeited (in shares)						(24,000)	0	0
Outstanding (in shares)						34,125	841,275	864,300	841,275	625,800
Strike price (in dollars per share)						$ 28.02	$ 0	$ 25.34
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
Forfeited (in shares)	0	(5,700)	(5,250)	0	(9,000)
Outstanding (in shares)	119,300	115,200	70,050	18,750	60,375
Strike price (in dollars per share)	$ 25.31	$ 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
Forfeited (in shares)	0	(5,550)	(10,650)	0	(2,250)
Outstanding (in shares)	119,200	113,550	138,600	18,750	33,375
Strike price (in dollars per share)	$ 25.31	$ 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	Mar. 31, 2021	Mar. 31, 2020
Shares
Outstanding, beginning of year (in shares)		841,275	625,800
Granted (in shares)	58,125	0	238,500
Exercised (in shares)		0	0
Forfeited (in shares)	(24,000)	0	0
Expired (in shares)		0	0
Outstanding, end of period (in shares)	34,125	841,275	864,300
Exercisable, end of period (in shares)		113,250	62,625
Weighted Average Exercise Price
Outstanding, weighted average exercise price (in dollars per share)		$ 28.17	$ 29.29
Granted (in dollars per share)	$ 28.02	0	25.34
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)		28.17	29.20
Exercisable, end of period (in dollars per share)		$ 29.13	$ 29.47

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Finance lease right of use assets	$ 7,758	$ 5,257
Finance lease liabilities	$ 8,094	$ 5,475

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Finance Lease Cost:
Amortization of right-of-use asset	$ 152	$ 50
Interest expense	71	53
Operating lease cost	76	91
Variable lease cost	0	0
Total Lease Cost	$ 299	$ 194

Leases - Maturity Schedule (Det

Leases - Maturity Schedule (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Operating
2021	$ 219
2022	298
2023	273
2024	262
2025	265
2026 and thereafter	2,911
Total undiscounted cash flows	4,228
Discount on cash flows	(1,098)
Total lease liability	3,130	$ 3,175
Finance
2021	314
2022	419
2023	421
2024	427
2025	929
2026 and thereafter	9,664
Total undiscounted cash flows	12,174
Discount on cash flows	(4,080)
Total lease liability	$ 8,094

Leases - Weighted Average Term

Leases - Weighted Average Term and Discount Rate (Details)	Mar. 31, 2021
Operating
Weighted-average term (years)	18 years 1 month 6 days
Weighted-average discount rate	3.51%
Finance
Weighted-average term (years)	25 years 1 month 6 days
Weighted-average discount rate	3.19%

Reclassification of Comparati_2

Reclassification of Comparative Amounts (Details)	3 Months Ended
	Mar. 31, 2021USD ($)
Reclassification of Comparative Amounts
Effect of reclassification adjustment on net income or shareholders' equity	$ 0