Penns Woods Bancorp (PWOD) 10-Q 10 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	May 01, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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)		7,058,369
Entity Central Index Key	0000716605
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEET (UNA

CONSOLIDATED BALANCE SHEET (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
ASSETS:
Noninterest-bearing balances	$ 25,717	$ 19,233
Interest-bearing balances in other financial institutions	143,086	194,629
Federal funds sold	50,000	50,000
Total cash and cash equivalents	218,803	263,862
Investment debt securities, available for sale, at fair value	175,674	166,410
Investment equity securities, at fair value	1,193	1,251
Investment securities, trading	36	37
Restricted investment in bank stock, at fair value	13,795	14,531
Loans held for sale	1,360	3,725
Loans	1,405,966	1,392,147
Allowance for loan losses	(14,023)	(14,176)
Loans, net	1,391,943	1,377,971
Premises and equipment, net	33,259	34,025
Accrued interest receivable	8,129	8,048
Bank-owned life insurance	33,953	33,768
Investment in limited partnerships	4,600	4,607
Goodwill	17,104	17,104
Intangibles	437	480
Operating lease right-of-use asset	2,795	2,851
Deferred tax asset	4,569	2,946
Other assets	9,159	9,193
TOTAL ASSETS	1,916,809	1,940,809
LIABILITIES:
Interest-bearing deposits	1,098,265	1,126,955
Noninterest-bearing deposits	514,130	494,360
Total deposits	1,612,395	1,621,315
Short-term borrowings	6,634	5,747
Long-term borrowings	112,918	125,963
Accrued interest payable	471	651
Operating lease liability	2,847	2,898
Other liabilities	13,117	11,961
TOTAL LIABILITIES	1,748,382	1,768,535
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; 7,554,567 and 7,550,272 shares issued; 7,074,342 and 7,070,047 outstanding	41,969	41,945
Additional paid-in capital	54,191	53,795
Retained earnings	90,928	89,761
Accumulated other comprehensive loss:
Net unrealized (loss) gain on available for sale securities	(3,074)	2,373
Defined benefit plan	(3,472)	(3,485)
Treasury stock at cost, 480,225	(12,115)	(12,115)
TOTAL SHAREHOLDERS' EQUITY	168,427	172,274
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,916,809	$ 1,940,809

CONSOLIDATED BALANCE SHEET (U_2

CONSOLIDATED BALANCE SHEET (UNAUDITED) (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
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)	7,554,567	7,550,272
Common stock, shares outstanding (in shares)	7,074,342	7,070,047
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, 2022	Mar. 31, 2021
INTEREST AND DIVIDEND INCOME:
Loans, including fees	$ 13,038	$ 13,345
Investment securities:
Taxable	737	819
Tax-exempt	164	171
Dividend and other interest income	336	260
TOTAL INTEREST AND DIVIDEND INCOME	14,275	14,595
INTEREST EXPENSE:
Deposits	788	1,684
Short-term borrowings	1	2
Long-term borrowings	633	839
TOTAL INTEREST EXPENSE	1,422	2,525
NET INTEREST INCOME	12,853	12,070
PROVISION FOR LOAN LOSSES	150	515
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	12,703	11,555
NON-INTEREST INCOME:
Net debt securities (losses) gains, available for sale	(2)	138
Net equity losses	(58)	(23)
Net securities (losses) gains, trading	(1)	4
Bank-owned life insurance	170	173
Gain on sale of loans	345	908
Other	207	94
TOTAL NON-INTEREST INCOME	2,412	2,614
NON-INTEREST EXPENSE:
Salaries and employee benefits	6,264	5,598
Occupancy	910	976
Furniture and equipment	892	809
Software amortization	253	198
Pennsylvania shares tax	389	352
Professional fees	538	583
Federal Deposit Insurance Corporation deposit insurance	202	221
Marketing	64	63
Intangible amortization	43	53
Other	1,452	1,098
TOTAL NON-INTEREST EXPENSE	11,007	9,951
INCOME BEFORE INCOME TAX PROVISION	4,108	4,218
INCOME TAX PROVISION	676	771
CONSOLIDATED NET INCOME	3,432	3,447
Less: Net income attributable to noncontrolling interest	0	6
NET INCOME ATTRIBUTABLE TO PENNS WOODS BANCORP, INC.	$ 3,432	$ 3,441
Earnings per share - basic (in dollars per share)	$ 0.49	$ 0.49
Earnings per share - diluted (in dollars per share)	$ 0.49	$ 0.49
Weighted average shares outstanding - basic (in shares)	7,072,575	7,055,116
Weighted average shares outstanding - diluted (in shares)	7,072,575	7,055,116
Service charges
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card income	$ 495	$ 383
Insurance commissions
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card income	170	157
Brokerage commissions
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card income	200	219
Debit card income
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card income	345	380
Loan Brokerage Commissions
NON-INTEREST INCOME:
Service charges, insurance commissions, brokerage commissions, and debit card income	$ 541	$ 181

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 3,432	$ 3,441
Other comprehensive income loss:
Change in unrealized loss on available for sale securities	(6,897)	(1,911)
Tax effect	1,448	401
Net realized loss (gain) on available for sale securities included in net income	2	(138)
Tax effect	0	29
Amortization of unrecognized pension gain	17	46
Tax effect	(4)	(10)
Total other comprehensive loss	(5,434)	(1,583)
Comprehensive (loss) income	$ (2,002)	$ 1,858

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, 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 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
Beginning balance (in shares) at Dec. 31, 2021		7,550,272
Beginning balance at Dec. 31, 2021	172,274	$ 41,945	53,795	89,761	(1,112)	(12,115)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,432			3,432
Other comprehensive loss	(5,434)				(5,434)
Stock-based compensation	315		315
Dividends declared	(2,265)			(2,265)
Common shares issued for employee stock purchase plan (in shares)		880
Common shares issued for employee stock purchase plan	21	$ 5	16
Director Compensation Plan (in shares)		3,415
Director Compensation Plan	84	$ 19	65
Ending balance (in shares) at Mar. 31, 2022		7,554,567
Ending balance at Mar. 31, 2022	$ 168,427	$ 41,969	$ 54,191	$ 90,928	$ (6,546)	$ (12,115)	$ 0

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
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, 2022	Mar. 31, 2021
OPERATING ACTIVITIES:
Net Income	$ 3,432	$ 3,447
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	948	839
Write down of leasehold improvements	254	0
Amortization of intangible assets	43	53
Provision for loan losses	150	515
Stock based compensation	315	220
Accretion and amortization of investment security discounts and premiums	343	251
Net securities losses (gains), available for sale	2	(138)
Originations of loans held for sale	(9,140)	(26,658)
Proceeds of loans held for sale	11,850	30,237
Gain on sale of loans	(345)	(908)
Net equity securities losses	58	23
Net securities losses (gains), trading	1	(4)
Security trades payable	1,290	0
Earnings on bank-owned life insurance	(170)	(173)
Increase in deferred tax asset	(175)	(761)
Other, net	(1,766)	2,447
Net cash provided by operating activities	7,090	9,390
INVESTING ACTIVITIES:
Proceeds from sales of available for sale securities	90	11,372
Proceeds from calls and maturities of available for sale securities	920	3,428
Purchases of available for sale securities	(16,251)	(21,955)
Net (increase) decrease in loans	(14,175)	8,312
Acquisition of premises and equipment	(92)	(197)
Proceeds from the sale of foreclosed assets	0	246
Purchase of bank-owned life insurance	(18)	(26)
Proceeds from bank-owned life insurance death benefit	2	0
Investment in limited partnership	(123)	(711)
Proceeds from redemption of regulatory stock	1,674	1,082
Purchases of regulatory stock	(938)	(737)
Net cash (used for) provided by investing activities	(28,911)	814
FINANCING ACTIVITIES:
Net (decrease) increase in interest-bearing deposits	(28,690)	40,362
Net increase in noninterest-bearing deposits	19,770	29,559
Repayment of long-term borrowings	(13,000)	(15,000)
Net increase in short-term borrowings	887	1,406
Finance lease principal payments	(45)	(34)
Dividends paid	(2,265)	(2,262)
Distributions to non-controlling interest	0	(6)
Issuance of common stock	105	101
Net cash (used for) provided by financing activities	(23,238)	54,126
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(45,059)	64,330
CASH AND CASH EQUIVALENTS, BEGINNING	263,862	213,358
CASH AND CASH EQUIVALENTS, ENDING	218,803	277,688
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid	1,602	2,649
Income taxes paid	10	0
Non-cash investing and financing activities:
Right-of-use lease assets obtained in exchange for lessee finance lease liabilities	0	2,653
Transfer of loans to foreclosed real estate	$ 53	$ 0

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
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., United Insurance Solutions, LLC., 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”). 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, 2021. 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, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Accumulated Other Comprehensive Gain (Loss)	Accumulated Other Comprehensive Gain (Loss) The changes in accumulated other comprehensive gain (loss) by component shown net of tax and parenthesis indicating debits, as of March 31, 2022 and 2021 were as follows: Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 (In Thousands) Net Unrealized Gain on Available Defined Total Net Unrealized Defined Total Beginning balance $ 2,373 $ (3,485) $ (1,112) $ 4,714 $ (5,596) $ (882) Other comprehensive loss before reclassifications (5,449) — (5,449) (1,510) — (1,510) Amounts reclassified from accumulated other comprehensive gain (loss) 2 13 15 (109) 36 (73) Net current-period other comprehensive (loss) income (5,447) 13 (5,434) (1,619) 36 (1,583) Ending balance $ (3,074) $ (3,472) $ (6,546) $ 3,095 $ (5,560) $ (2,465) The reclassifications out of accumulated other comprehensive loss shown, net of tax and parenthesis indicating debits to net income, as of March 31, 2022 and 2021 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, 2022 Three Months Ended March 31, 2021 Net unrealized (loss) gain on available for sale securities $ (2) $ 138 Net debt securities gains, available for sale Income tax effect — (29) Income tax provision Total reclassifications for the period $ (2) $ 109 Net unrecognized pension costs $ (17) $ (46) Other non-interest expense Income tax effect 4 10 Income tax provision Total reclassifications for the period $ (13) $ (36)

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2022
Accounting Standards Update and Change in Accounting Principle [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 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 July 2021, the FASB issued ASU 2021-05, Leases (Topic 842), which amends ASC 842 so that lessors are no longer required to recognize a selling loss upon commencement of a lease with variable lease payments that, prior to the amendments, would have been classified as a sales-type or direct financing lease. Furthermore, a lessor must classify as an operating lease any lease that would otherwise be classified as a sales-type or direct financing lease and that would result in the recognition of a selling loss at lease commencement, provided that the lease includes variable lease payments that do not depend on an index or rate. For public business entities and certain not-for-profit entities and employee benefit plans that have adopted ASC 842, the amendments are effective for fiscal years beginning after December 15, 2021, and for interim periods within those fiscal years. For all other entities that have adopted ASC 842, the amendments are effective for fiscal years beginning after December 15, 2021, and for interim periods within fiscal years beginning after December 15, 2022. All entities that have adopted ASC 842 are permitted to early adopt the amendments in ASU 2021-05. The amendments in ASU 2021-05 are effective as of the same date as the guidance in ASC 842 for entities that have not adopted ASC 842. This Update is not expected to have a significant impact on the Company’s financial statements. In March 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (ASC 326): Troubled Debt Restructurings (TDRs) and Vintage Disclosures . The guidance amends ASC 326 to eliminate the accounting guidance for TDRs by creditors, while enhancing disclosure requirements for certain loan refinancing and restructuring activities by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying TDR recognition and measurement guidance, creditors will determine whether a modification results in a new loan or continuation of existing loan. These amendments are intended to enhance existing disclosure requirements and introduce new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. Additionally, the amendments to ASC 326 require that an entity disclose current-period gross writeoffs by year of origination within the vintage disclosures, which requires that an entity disclose the amortized cost basis of financing receivables by credit quality indicator and class of financing receivable by year of origination. The guidance is only for entities that have adopted the amendments in Update 2016-13 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. Early adoption using prospective application, including adoption in an interim period where the guidance should be applied as of the beginning of the fiscal year. This Update is not expected to have a significant impact on the Company’s financial statements.

Per Share Data

Per Share Data	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Per Share Data	Per Share DataThere are no convertible securities which would affect the denominator in calculating basic and dilutive earnings per share. There were a total of 1,268,525 stock options, with an average exercise price of $26.65, outstanding on March 31, 2022. These options were excluded, 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 $24.24 being less than the exercise price of the options issued. There were a total of 841,275 stock options, with an average exercise price of $28.17 that were excluded, 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 $20.21 being less than the strike price for the period ending March 31, 2021. Three Months Ended March 31, 2022 2021 Weighted average common shares issued 7,552,800 7,535,341 Weighted average treasury stock shares (480,225) (480,225) Weighted average common shares outstanding - basic and diluted 7,072,575 7,055,116

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021 are as follows: March 31, 2022 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): Mortgage-backed securities $ 1,532 $ — $ (80) $ 1,452 State and political securities 129,868 926 (3,238) 127,556 Other debt securities 48,165 41 (1,540) 46,666 Total debt securities $ 179,565 $ 967 $ (4,858) $ 175,674 Investment equity securities: Other equity securities $ 1,300 $ — $ (107) $ 1,193 Trading: Other equity securities $ 50 $ — $ (14) $ 36 December 31, 2021 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): Mortgage-backed securities $ 1,752 $ — $ (5) $ 1,747 State and political securities 113,852 3,500 (694) 116,658 Other debt securities 47,802 524 (321) 48,005 Total debt securities $ 163,406 $ 4,024 $ (1,020) $ 166,410 Investment equity securities: Other equity securities $ 1,300 $ — $ (49) $ 1,251 Trading: Other equity securities $ 50 $ — $ (13) $ 37 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, 2022 and December 31, 2021. March 31, 2022 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) Value Losses Value Losses Value Losses Available for sale (AFS): Mortgage-backed securities $ 1,452 $ (80) $ — $ — $ 1,452 $ (80) State and political securities 71,755 (2,242) 12,375 (996) 84,130 (3,238) Other debt securities 29,693 (1,324) 4,737 (216) 34,430 (1,540) Total debt securities $ 102,900 $ (3,646) $ 17,112 $ (1,212) $ 120,012 $ (4,858) December 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): Mortgage-backed securities $ 1,747 $ (5) $ — $ — $ 1,747 $ (5) State and political securities 34,203 (398) 7,408 (296) 41,611 (694) Other debt securities 21,446 (301) 1,808 (20) 23,254 (321) Total debt securities $ 57,396 $ (704) $ 9,216 $ (316) $ 66,612 $ (1,020) At March 31, 2022, there were a total of 172 securities in a continuous unrealized loss position for less than twelve months and 25 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, 2022, 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, 2022, 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 $ 12,419 $ 12,400 Due after one year to five years 104,442 101,967 Due after five years to ten years 60,675 59,347 Due after ten years 2,029 1,960 Total $ 179,565 $ 175,674 Total gross proceeds from sales of debt securities available for sale for the three months ended March 31, 2022 was $90,000, compared to $11,372,000 for the corresponding 2021 period. 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) 2022 2021 Available for sale (AFS): Gross realized gains: Mortgage-backed securities $ — $ — State and political securities 1 — Other debt securities — 138 Total gross realized gains $ 1 $ 138 Gross realized losses: State and political securities $ 3 $ — Other debt securities — — Total gross realized losses $ 3 $ — There were no impairment charges included in gross realized losses for the three months ended March 31, 2022 and 2021, respectively. Investment securities with a carrying value of approximately $146,810,000 and $139,435,000 at March 31, 2022 and December 31, 2021, respectively, were pledged to secure certain deposits, repurchase agreements, and for other purposes as required by law. At March 31, 2022 and December 31, 2021, we had $1,193,000 and $1,251,000, 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, 2022 and 2021: Three Months Ended March 31, (In Thousands) 2022 2021 Net losses recognized in equity securities during the period $ (58) $ (23) Less: Net gains realized on the sale of equity securities during the period — — Unrealized losses recognized in equity securities held at reporting date $ (58) $ (23) Net gains and losses on trading account securities are as follows for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, (In Thousands) 2022 2021 Net gains on sale transactions $ — $ — Net mark-to-market (losses) gains (1) 4 Net (loss) gain on trading account securities $ (1) $ 4

Loans

Loans	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021: March 31, 2022 Past Due Past Due 90 30 To 89 Days Or More Non- (In Thousands) Current Days & Still Accruing Accrual Total Commercial, financial, and agricultural $ 161,764 $ — $ — $ 509 $ 162,273 Real estate mortgage: Residential 609,728 2,399 319 715 613,161 Commercial 439,344 378 — 3,693 443,415 Construction 41,609 314 — — 41,923 Consumer automobile loans 135,015 545 8 — 135,568 Other consumer installment loans 9,285 44 37 — 9,366 1,396,745 $ 3,680 $ 364 $ 4,917 1,405,706 Net deferred loan fees and discounts 260 260 Allowance for loan losses (14,023) (14,023) Loans, net $ 1,382,982 $ 1,391,943 December 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 $ 162,571 $ 139 $ — $ 575 $ 163,285 Real estate mortgage: Residential 590,240 4,083 687 837 595,847 Commercial 442,573 224 — 3,937 446,734 Construction 36,701 554 — 40 37,295 Consumer automobile loans 138,775 490 143 — 139,408 Other consumer installment loans 9,199 47 31 — 9,277 1,380,059 $ 5,537 $ 861 $ 5,389 1,391,846 Net deferred loan fees and discounts 301 301 Allowance for loan losses (14,176) (14,176) Loans, net $ 1,366,184 $ 1,377,971 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 loans of less than $100,000 for impairment on a case-by-case basis. Mortgage loans on one-to-four family properties and consumer loans 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, 2022 and December 31, 2021: March 31, 2022 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 346 $ 346 $ — Real estate mortgage: Residential 3,678 3,678 — Commercial 2,884 2,884 — Construction 65 65 — Consumer automobile loans — — — Installment loans to individuals — — — 6,973 6,973 — With an allowance recorded: Commercial, financial, and agricultural 470 3,257 2 Real estate mortgage: Residential 1,159 1,159 192 Commercial 4,712 4,712 741 Construction — — — Consumer automobile loans — — — Installment loans to individuals 19 19 19 6,360 9,147 954 Total: Commercial, financial, and agricultural 816 3,603 2 Real estate mortgage: Residential 4,837 4,837 192 Commercial 7,596 7,596 741 Construction 65 65 — Consumer automobile loans — — — Installment loans to individuals 19 19 19 $ 13,333 $ 16,120 $ 954 December 31, 2021 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 355 $ 355 $ — Real estate mortgage: Residential 3,874 3,874 — Commercial 3,105 3,105 — Construction 105 105 — Consumer automobile loans — — — Installment loans to individuals — — — 7,439 7,439 — With an allowance recorded: Commercial, financial, and agricultural 534 3,321 2 Real estate mortgage: Residential 1,178 1,178 201 Commercial 4,814 4,814 800 Construction — — — Consumer automobile loans — — — Installment loans to individuals 20 20 20 6,546 9,333 1,023 Total: Commercial, financial, and agricultural 889 3,676 2 Real estate mortgage: Residential 5,052 5,052 201 Commercial 7,919 7,919 800 Construction 105 105 — Consumer automobile loans — — — Installment loans to individuals 20 20 20 $ 13,985 $ 16,772 $ 1,023 The following table presents the average recorded investment in impaired loans and related interest income recognized for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (In Thousands) Average Interest Income Interest Income Average Interest Income Interest Income Commercial, financial, and agricultural $ 853 $ 5 $ — $ 864 $ — $ — Real estate mortgage: Residential 4,944 46 — 6,081 51 — Commercial 7,757 52 — 9,167 28 — Construction 85 1 — 122 — — Consumer automobile — — — 76 — — Other consumer installment loans 20 — — — — — $ 13,659 $ 104 $ — $ 16,310 $ 79 $ — Troubled Debt Restructurings The loan portfolio also includes certain loans that have been modified in a Troubled Debt Restructuring (“TDR”), where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance, or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months. There were no loan modifications considered to be TDRs completed during the three months ended March 31, 2022, respectively. There were two loan modifications considered TDRs completed during the three months ended March 31, 2021. 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 modification considered to be a TDR made during the twelve months prior to March 31, 2022 that defaulted during the three months ended March 31, 2022. The defaulted loan type and recorded investment at March 31, 2022 are as follows: one residential real estate loan with a recorded investment of $400,000. There was one loan modification 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 investments at March 31, 2021 are as follows: one residential real estate loan with a recorded investment of $687,000. Troubled debt restructurings amounted to $9,084,000 and $9,410,000 as of March 31, 2022 and December 31, 2021, respectively. The amount of foreclosed residential real estate held at March 31, 2022 and December 31, 2021, totaled $136,000 and $339,000, respectively. Consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process at March 31, 2022 and December 31, 2021, totaled $204,000 and $193,000, respectively. The Company began offering short-term loan modifications to provide relief to borrowers during the COVID-19 national emergency. The CARES Act, along with a joint agency statement issued by federal and state banking agencies, provides that short-term modifications made in a good faith basis in response to COVID-19 to loans that are 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 historically high levels as the impact of the pandemic continues. As of March 31, 2022, the loan modification/deferral program in place has generated deferrals of up to 180 days that have been granted on 1,372 loans with 1 loan remaining in its deferral period with an aggregate outstanding balance of $158,000. 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 TDRs. 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. 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 as 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 2022 loan review will evaluate 55% of the Banks' average outstanding commercial portfolio 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, 2022 and December 31, 2021: March 31, 2022 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 160,048 $ 610,038 $ 430,063 $ 41,817 $ 135,568 $ 9,347 $ 1,386,881 Special Mention 209 275 5,187 — — — 5,671 Substandard 2,016 2,848 8,165 106 — 19 13,154 $ 162,273 $ 613,161 $ 443,415 $ 41,923 $ 135,568 $ 9,366 $ 1,405,706 December 31, 2021 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 160,899 $ 592,570 $ 432,158 $ 36,511 $ 139,408 $ 9,257 $ 1,370,803 Special Mention 234 284 6,108 676 — — 7,302 Substandard 2,152 2,993 8,468 108 — 20 13,741 $ 163,285 $ 595,847 $ 446,734 $ 37,295 $ 139,408 $ 9,277 $ 1,391,846 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, 2022 and 2021: Three Months Ended March 31, 2022 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,946 $ 4,701 $ 5,336 $ 179 $ 1,411 $ 111 $ 492 $ 14,176 Charge-offs — — (155) — (129) (60) — (344) Recoveries 4 3 1 — 9 24 — 41 Provision (14) 97 33 18 85 39 (108) 150 Ending Balance $ 1,936 $ 4,801 $ 5,215 $ 197 $ 1,376 $ 114 $ 384 $ 14,023 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 The shift in allocation and the decrease in 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 including supply chain disruptions. 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, 2022 and 2021: March 31, 2022 2021 Owners of residential rental properties 19.95 % 16.73 % Owners of commercial rental properties 15.60 % 13.66 % 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, 2022 and December 31, 2021: March 31, 2022 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 $ 2 $ 192 $ 741 $ — $ — $ 19 $ — $ 954 Collectively evaluated for impairment 1,934 4,609 4,474 197 1,376 95 384 13,069 Total ending allowance balance $ 1,936 $ 4,801 $ 5,215 $ 197 $ 1,376 $ 114 $ 384 $ 14,023 Loans: Individually evaluated for impairment $ 816 $ 4,837 $ 7,596 $ 65 $ — $ 19 $ 13,333 Collectively evaluated for impairment 161,457 608,324 435,819 41,858 135,568 9,347 1,392,373 Total ending loans balance $ 162,273 $ 613,161 $ 443,415 $ 41,923 $ 135,568 $ 9,366 $ 1,405,706 December 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 $ 2 $ 201 $ 800 $ — $ — $ 20 $ — $ 1,023 Collectively evaluated for impairment 1,944 4,500 4,536 179 1,411 91 492 13,153 Total ending allowance balance $ 1,946 $ 4,701 $ 5,336 $ 179 $ 1,411 $ 111 $ 492 $ 14,176 Loans: Individually evaluated for impairment $ 889 $ 5,052 $ 7,919 $ 105 $ — $ 20 $ 13,985 Collectively evaluated for impairment 162,396 590,795 438,815 37,190 139,408 9,257 1,377,861 Total ending loans balance $ 163,285 $ 595,847 $ 446,734 $ 37,295 $ 139,408 $ 9,277 $ 1,391,846

Net Periodic Benefit Cost-Defin

Net Periodic Benefit Cost-Defined Benefit Plans	3 Months Ended
	Mar. 31, 2022
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, 2021. The following sets forth the components of the net periodic expense/(gain) of the domestic non-contributory defined benefit plan for the three months ended March 31, 2022 and 2021, respectively: Three Months Ended March 31, (In Thousands) 2022 2021 Interest cost $ 138 $ 127 Expected return on plan assets (412) (386) Amortization of net loss 17 46 Net periodic benefit $ (257) $ (213) 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, 2021, that it does not expect to contribute to its defined benefit plan in 2022. As of March 31, 2022, there were no contributions made to the pension plan.

Employee Stock Purchase Plan

Employee Stock Purchase Plan	3 Months Ended
	Mar. 31, 2022
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 1,500,000 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, 2022 and 2021, there were 880 and 939 shares issued under the Plan, respectively, for total proceeds of $21,000 and $20,000.

Off-Balance Sheet Risk

Off-Balance Sheet Risk	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021: (In Thousands) March 31, 2022 December 31, 2021 Commitments to extend credit $ 231,011 $ 184,364 Standby letters of credit 8,644 7,027 Credit exposure from the sale of assets with recourse 10,330 10,248 $ 249,985 $ 201,639 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, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsThe following disclosures show the hierarchal disclosure framework associated with the level of pricing observations utilized in measuring assets and liabilities at fair value. Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities include items for which quoted prices are available but traded less frequently, and items that are fair valued using other financial instruments, the parameters of which can be directly observed. Level III: Assets and liabilities that have little to no pricing observability as of the reported date. These items do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation. This hierarchy requires the use of observable market data when available. The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a recurring basis as of March 31, 2022 and December 31, 2021, 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, 2022 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: Mortgage-backed securities $ — $ 1,452 $ — $ 1,452 State and political securities — 127,556 — 127,556 Other debt securities — 46,666 — 46,666 Investment equity securities: Other equity securities 1,193 — — 1,193 Investment securities, trading: Other equity securities 36 — — 36 December 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 $ — $ 1,747 $ — $ 1,747 State and political securities — 116,658 — 116,658 Other debt securities — 48,005 — 48,005 Investment equity securities: Other equity securities 1,251 — — 1,251 Investment securities, trading: Other equity securities 37 — — 37 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, 2022 and December 31, 2021, 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, 2022 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 2,186 $ 2,186 Other real estate owned — — 136 136 December 31, 2021 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 2,360 $ 2,360 Other real estate owned — — 83 83 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, 2022 and December 31, 2021: March 31, 2022 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans 2,186 Appraisal of collateral (1) Appraisal adjustments (1) 0% to (34)% (14)% Other real estate owned $ 136 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, 2021 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans 2,360 Appraisal of collateral (1) Appraisal adjustments (1) 0% to (34)% (15)% Other real estate owned $ 83 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.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2022
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 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, 2022 and December 31, 2021: Carrying Fair Fair Value Measurements at March 31, 2022 (In Thousands) Value Value Level I Level II Level III Financial assets: Loans held for sale (1) $ 1,360 $ 1,360 $ 1,360 $ — $ — Loans, net 1,391,943 1,355,950 — — 1,355,950 Financial liabilities: Time deposits 173,600 168,061 — — 168,061 Short-term borrowings 6,634 6,634 6,634 — — Long-term borrowings 112,918 110,523 — — 110,523 (1) The financial instrument is carried at cost at, March 31, 2022 which approximate the fair value of the instruments Carrying Fair Fair Value Measurements at December 31, 2021 (In Thousands) Value Value Level I Level II Level III Financial assets: Loans held for sale (1) $ 3,725 $ 3,725 $ 3,725 $ — $ — Loans, net 1,377,971 1,379,787 — — 1,379,787 Financial liabilities: Time deposits 205,367 204,512 — — 204,512 Short-term borrowings 5,747 5,747 5,747 — — Long-term borrowings 125,963 127,679 — — 127,679 (1) The financial instrument is carried at cost at, December 31, 2021 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, 2022 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, 2022
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, 2022, the Company had a total of 1,034,525 stock options outstanding. During the period ended March 31, 2022, the Company issued 234,000 stock options with a strike price of $24.10 to a group of employees. The options granted in 2022 all expire ten years from the grant date. Of the 234,000 grants awarded in 2022, 156,000 of the options vest in three years while the 78,000 remaining options vest in five years. Stock Options Granted Date Shares Forfeited Outstanding Strike Price Vesting Period Expiration January 18, 2022 156,000 — 156,000 $ 24.10 3 years 10 years January 18, 2022 78,000 — 78,000 24.10 5 years 10 years April 9, 2021 156,500 — 156,500 24.23 3 years 10 years April 9, 2021 78,000 — 78,000 24.23 5 years 10 years March 11, 2020 119,300 — 119,300 25.34 3 years 10 years March 11, 2020 119,200 — 119,200 25.34 5 years 10 years March 15, 2019 120,900 (14,850) 106,050 28.01 3 years 10 years March 15, 2019 119,100 (14,400) 104,700 28.01 5 years 10 years August 24, 2018 75,300 (11,550) 63,750 30.67 3 years 10 years August 24, 2018 149,250 (23,100) 126,150 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 (11,250) 58,125 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 (26,250) 31,875 28.02 5 years 10 years A summary of stock option activity is presented below: March 31, 2022 March 31, 2021 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding, beginning of year 1,034,525 $ 27.23 841,275 $ 28.17 Granted 234,000 24.10 — — Exercised — — — — Forfeited — — — — Expired — — — — Outstanding, end of period 1,268,525 $ 26.65 841,275 $ 28.17 Exercisable, end of period 311,925 $ 29.11 113,250 $ 29.13 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 fair value of stock options is estimated using the Black-Scholes option pricing model. The following is a summary of the assumptions used in this model for stock options granted for the three months ended March 31, 2022: Three months ended March 31, 2022 Risk-free interest rate 1.23 % Expected volatility 33 % Expected Annual dividend $ 1.28 Expected life 6.84 years Weighted average grant date fair value per option $ 4.28

Leases

Leases	3 Months Ended
	Mar. 31, 2022
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, 2022 December 31, 2021 Finance lease right of use assets Premises and equipment, net $ 7,328 $ 7,435 Finance lease liabilities Long-term borrowings 7,918 7,963 The following table shows the components of finance and operating lease expense for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, (In Thousands) 2022 2021 Finance Lease Cost: Amortization of right-of-use asset $ 108 $ 152 Interest expense 61 71 Operating lease cost 72 76 Variable lease cost — — Total Lease Cost $ 241 $ 299 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 2022 $ 218 $ 315 2023 265 421 2024 255 427 2025 257 929 2026 260 387 2027 and thereafter 2,568 9,276 Total undiscounted cash flows 3,823 11,755 Discount on cash flows (976) (3,837) Total lease liability $ 2,847 $ 7,918 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, 2022. Operating Finance Weighted-average term (years) 17.5 24.1 Weighted-average discount rate 3.53 % 3.20 %
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, 2022 December 31, 2021 Finance lease right of use assets Premises and equipment, net $ 7,328 $ 7,435 Finance lease liabilities Long-term borrowings 7,918 7,963 The following table shows the components of finance and operating lease expense for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, (In Thousands) 2022 2021 Finance Lease Cost: Amortization of right-of-use asset $ 108 $ 152 Interest expense 61 71 Operating lease cost 72 76 Variable lease cost — — Total Lease Cost $ 241 $ 299 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 2022 $ 218 $ 315 2023 265 421 2024 255 427 2025 257 929 2026 260 387 2027 and thereafter 2,568 9,276 Total undiscounted cash flows 3,823 11,755 Discount on cash flows (976) (3,837) Total lease liability $ 2,847 $ 7,918 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, 2022. Operating Finance Weighted-average term (years) 17.5 24.1 Weighted-average discount rate 3.53 % 3.20 %

Reclassification of Comparative

Reclassification of Comparative Amounts	3 Months Ended
	Mar. 31, 2022
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.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
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., United Insurance Solutions, LLC., 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”). 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, 2021.
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 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 July 2021, the FASB issued ASU 2021-05, Leases (Topic 842), which amends ASC 842 so that lessors are no longer required to recognize a selling loss upon commencement of a lease with variable lease payments that, prior to the amendments, would have been classified as a sales-type or direct financing lease. Furthermore, a lessor must classify as an operating lease any lease that would otherwise be classified as a sales-type or direct financing lease and that would result in the recognition of a selling loss at lease commencement, provided that the lease includes variable lease payments that do not depend on an index or rate. For public business entities and certain not-for-profit entities and employee benefit plans that have adopted ASC 842, the amendments are effective for fiscal years beginning after December 15, 2021, and for interim periods within those fiscal years. For all other entities that have adopted ASC 842, the amendments are effective for fiscal years beginning after December 15, 2021, and for interim periods within fiscal years beginning after December 15, 2022. All entities that have adopted ASC 842 are permitted to early adopt the amendments in ASU 2021-05. The amendments in ASU 2021-05 are effective as of the same date as the guidance in ASC 842 for entities that have not adopted ASC 842. This Update is not expected to have a significant impact on the Company’s financial statements. In March 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (ASC 326): Troubled Debt Restructurings (TDRs) and Vintage Disclosures . The guidance amends ASC 326 to eliminate the accounting guidance for TDRs by creditors, while enhancing disclosure requirements for certain loan refinancing and restructuring activities by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying TDR recognition and measurement guidance, creditors will determine whether a modification results in a new loan or continuation of existing loan. These amendments are intended to enhance existing disclosure requirements and introduce new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. Additionally, the amendments to ASC 326 require that an entity disclose current-period gross writeoffs by year of origination within the vintage disclosures, which requires that an entity disclose the amortized cost basis of financing receivables by credit quality indicator and class of financing receivable by year of origination. The guidance is only for entities that have adopted the amendments in Update 2016-13 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. Early adoption using prospective application, including adoption in an interim period where the guidance should be applied as of the beginning of the fiscal year. This Update is not expected to have a significant impact on the Company’s financial statements.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Gain (Loss) (Tables)	3 Months Ended
	Mar. 31, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of changes in accumulated other comprehensive income by component	The changes in accumulated other comprehensive gain (loss) by component shown net of tax and parenthesis indicating debits, as of March 31, 2022 and 2021 were as follows: Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 (In Thousands) Net Unrealized Gain on Available Defined Total Net Unrealized Defined Total Beginning balance $ 2,373 $ (3,485) $ (1,112) $ 4,714 $ (5,596) $ (882) Other comprehensive loss before reclassifications (5,449) — (5,449) (1,510) — (1,510) Amounts reclassified from accumulated other comprehensive gain (loss) 2 13 15 (109) 36 (73) Net current-period other comprehensive (loss) income (5,447) 13 (5,434) (1,619) 36 (1,583) Ending balance $ (3,074) $ (3,472) $ (6,546) $ 3,095 $ (5,560) $ (2,465)
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, 2022 and 2021 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, 2022 Three Months Ended March 31, 2021 Net unrealized (loss) gain on available for sale securities $ (2) $ 138 Net debt securities gains, available for sale Income tax effect — (29) Income tax provision Total reclassifications for the period $ (2) $ 109 Net unrecognized pension costs $ (17) $ (46) Other non-interest expense Income tax effect 4 10 Income tax provision Total reclassifications for the period $ (13) $ (36)

Per Share Data (Tables)

Per Share Data (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 2021 Weighted average common shares issued 7,552,800 7,535,341 Weighted average treasury stock shares (480,225) (480,225) Weighted average common shares outstanding - basic and diluted 7,072,575 7,055,116

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021 are as follows: March 31, 2022 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): Mortgage-backed securities $ 1,532 $ — $ (80) $ 1,452 State and political securities 129,868 926 (3,238) 127,556 Other debt securities 48,165 41 (1,540) 46,666 Total debt securities $ 179,565 $ 967 $ (4,858) $ 175,674 Investment equity securities: Other equity securities $ 1,300 $ — $ (107) $ 1,193 Trading: Other equity securities $ 50 $ — $ (14) $ 36 December 31, 2021 Gross Gross Amortized Unrealized Unrealized Fair (In Thousands) Cost Gains Losses Value Available for sale (AFS): Mortgage-backed securities $ 1,752 $ — $ (5) $ 1,747 State and political securities 113,852 3,500 (694) 116,658 Other debt securities 47,802 524 (321) 48,005 Total debt securities $ 163,406 $ 4,024 $ (1,020) $ 166,410 Investment equity securities: Other equity securities $ 1,300 $ — $ (49) $ 1,251 Trading: Other equity securities $ 50 $ — $ (13) $ 37
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, 2022 and December 31, 2021. March 31, 2022 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized (In Thousands) Value Losses Value Losses Value Losses Available for sale (AFS): Mortgage-backed securities $ 1,452 $ (80) $ — $ — $ 1,452 $ (80) State and political securities 71,755 (2,242) 12,375 (996) 84,130 (3,238) Other debt securities 29,693 (1,324) 4,737 (216) 34,430 (1,540) Total debt securities $ 102,900 $ (3,646) $ 17,112 $ (1,212) $ 120,012 $ (4,858) December 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): Mortgage-backed securities $ 1,747 $ (5) $ — $ — $ 1,747 $ (5) State and political securities 34,203 (398) 7,408 (296) 41,611 (694) Other debt securities 21,446 (301) 1,808 (20) 23,254 (321) Total debt securities $ 57,396 $ (704) $ 9,216 $ (316) $ 66,612 $ (1,020)
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, 2022, 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 $ 12,419 $ 12,400 Due after one year to five years 104,442 101,967 Due after five years to ten years 60,675 59,347 Due after ten years 2,029 1,960 Total $ 179,565 $ 175,674
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) 2022 2021 Available for sale (AFS): Gross realized gains: Mortgage-backed securities $ — $ — State and political securities 1 — Other debt securities — 138 Total gross realized gains $ 1 $ 138 Gross realized losses: State and political securities $ 3 $ — Other debt securities — — Total gross realized losses $ 3 $ —
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, 2022 and 2021: Three Months Ended March 31, (In Thousands) 2022 2021 Net losses recognized in equity securities during the period $ (58) $ (23) Less: Net gains realized on the sale of equity securities during the period — — Unrealized losses recognized in equity securities held at reporting date $ (58) $ (23) Net gains and losses on trading account securities are as follows for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, (In Thousands) 2022 2021 Net gains on sale transactions $ — $ — Net mark-to-market (losses) gains (1) 4 Net (loss) gain on trading account securities $ (1) $ 4

Loans (Tables)

Loans (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021: March 31, 2022 Past Due Past Due 90 30 To 89 Days Or More Non- (In Thousands) Current Days & Still Accruing Accrual Total Commercial, financial, and agricultural $ 161,764 $ — $ — $ 509 $ 162,273 Real estate mortgage: Residential 609,728 2,399 319 715 613,161 Commercial 439,344 378 — 3,693 443,415 Construction 41,609 314 — — 41,923 Consumer automobile loans 135,015 545 8 — 135,568 Other consumer installment loans 9,285 44 37 — 9,366 1,396,745 $ 3,680 $ 364 $ 4,917 1,405,706 Net deferred loan fees and discounts 260 260 Allowance for loan losses (14,023) (14,023) Loans, net $ 1,382,982 $ 1,391,943 December 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 $ 162,571 $ 139 $ — $ 575 $ 163,285 Real estate mortgage: Residential 590,240 4,083 687 837 595,847 Commercial 442,573 224 — 3,937 446,734 Construction 36,701 554 — 40 37,295 Consumer automobile loans 138,775 490 143 — 139,408 Other consumer installment loans 9,199 47 31 — 9,277 1,380,059 $ 5,537 $ 861 $ 5,389 1,391,846 Net deferred loan fees and discounts 301 301 Allowance for loan losses (14,176) (14,176) Loans, net $ 1,366,184 $ 1,377,971
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, 2022 and December 31, 2021: March 31, 2022 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 346 $ 346 $ — Real estate mortgage: Residential 3,678 3,678 — Commercial 2,884 2,884 — Construction 65 65 — Consumer automobile loans — — — Installment loans to individuals — — — 6,973 6,973 — With an allowance recorded: Commercial, financial, and agricultural 470 3,257 2 Real estate mortgage: Residential 1,159 1,159 192 Commercial 4,712 4,712 741 Construction — — — Consumer automobile loans — — — Installment loans to individuals 19 19 19 6,360 9,147 954 Total: Commercial, financial, and agricultural 816 3,603 2 Real estate mortgage: Residential 4,837 4,837 192 Commercial 7,596 7,596 741 Construction 65 65 — Consumer automobile loans — — — Installment loans to individuals 19 19 19 $ 13,333 $ 16,120 $ 954 December 31, 2021 Recorded Unpaid Principal Related (In Thousands) Investment Balance Allowance With no related allowance recorded: Commercial, financial, and agricultural $ 355 $ 355 $ — Real estate mortgage: Residential 3,874 3,874 — Commercial 3,105 3,105 — Construction 105 105 — Consumer automobile loans — — — Installment loans to individuals — — — 7,439 7,439 — With an allowance recorded: Commercial, financial, and agricultural 534 3,321 2 Real estate mortgage: Residential 1,178 1,178 201 Commercial 4,814 4,814 800 Construction — — — Consumer automobile loans — — — Installment loans to individuals 20 20 20 6,546 9,333 1,023 Total: Commercial, financial, and agricultural 889 3,676 2 Real estate mortgage: Residential 5,052 5,052 201 Commercial 7,919 7,919 800 Construction 105 105 — Consumer automobile loans — — — Installment loans to individuals 20 20 20 $ 13,985 $ 16,772 $ 1,023
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, 2022 and 2021: Three Months Ended March 31, 2022 2021 (In Thousands) Average Interest Income Interest Income Average Interest Income Interest Income Commercial, financial, and agricultural $ 853 $ 5 $ — $ 864 $ — $ — Real estate mortgage: Residential 4,944 46 — 6,081 51 — Commercial 7,757 52 — 9,167 28 — Construction 85 1 — 122 — — Consumer automobile — — — 76 — — Other consumer installment loans 20 — — — — — $ 13,659 $ 104 $ — $ 16,310 $ 79 $ —
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, 2022 and December 31, 2021: March 31, 2022 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 160,048 $ 610,038 $ 430,063 $ 41,817 $ 135,568 $ 9,347 $ 1,386,881 Special Mention 209 275 5,187 — — — 5,671 Substandard 2,016 2,848 8,165 106 — 19 13,154 $ 162,273 $ 613,161 $ 443,415 $ 41,923 $ 135,568 $ 9,366 $ 1,405,706 December 31, 2021 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment loans (In Thousands) Residential Commercial Construction Totals Pass $ 160,899 $ 592,570 $ 432,158 $ 36,511 $ 139,408 $ 9,257 $ 1,370,803 Special Mention 234 284 6,108 676 — — 7,302 Substandard 2,152 2,993 8,468 108 — 20 13,741 $ 163,285 $ 595,847 $ 446,734 $ 37,295 $ 139,408 $ 9,277 $ 1,391,846
Schedule of activity in the allowance	Activity in the allowance is presented for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 Commercial, Financial, and Agricultural Real Estate Mortgages Consumer automobile Other consumer installment (In Thousands) Residential Commercial Construction Unallocated Totals Beginning Balance $ 1,946 $ 4,701 $ 5,336 $ 179 $ 1,411 $ 111 $ 492 $ 14,176 Charge-offs — — (155) — (129) (60) — (344) Recoveries 4 3 1 — 9 24 — 41 Provision (14) 97 33 18 85 39 (108) 150 Ending Balance $ 1,936 $ 4,801 $ 5,215 $ 197 $ 1,376 $ 114 $ 384 $ 14,023 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
Schedule of concentration of loan	The Company has a concentration of the following to gross loans at March 31, 2022 and 2021: March 31, 2022 2021 Owners of residential rental properties 19.95 % 16.73 % Owners of commercial rental properties 15.60 % 13.66 %
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, 2022 and December 31, 2021: March 31, 2022 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 $ 2 $ 192 $ 741 $ — $ — $ 19 $ — $ 954 Collectively evaluated for impairment 1,934 4,609 4,474 197 1,376 95 384 13,069 Total ending allowance balance $ 1,936 $ 4,801 $ 5,215 $ 197 $ 1,376 $ 114 $ 384 $ 14,023 Loans: Individually evaluated for impairment $ 816 $ 4,837 $ 7,596 $ 65 $ — $ 19 $ 13,333 Collectively evaluated for impairment 161,457 608,324 435,819 41,858 135,568 9,347 1,392,373 Total ending loans balance $ 162,273 $ 613,161 $ 443,415 $ 41,923 $ 135,568 $ 9,366 $ 1,405,706 December 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 $ 2 $ 201 $ 800 $ — $ — $ 20 $ — $ 1,023 Collectively evaluated for impairment 1,944 4,500 4,536 179 1,411 91 492 13,153 Total ending allowance balance $ 1,946 $ 4,701 $ 5,336 $ 179 $ 1,411 $ 111 $ 492 $ 14,176 Loans: Individually evaluated for impairment $ 889 $ 5,052 $ 7,919 $ 105 $ — $ 20 $ 13,985 Collectively evaluated for impairment 162,396 590,795 438,815 37,190 139,408 9,257 1,377,861 Total ending loans balance $ 163,285 $ 595,847 $ 446,734 $ 37,295 $ 139,408 $ 9,277 $ 1,391,846

Net Periodic Benefit Cost-Def_2

Net Periodic Benefit Cost-Defined Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2022
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 expense/(gain) of the domestic non-contributory defined benefit plan for the three months ended March 31, 2022 and 2021, respectively: Three Months Ended March 31, (In Thousands) 2022 2021 Interest cost $ 138 $ 127 Expected return on plan assets (412) (386) Amortization of net loss 17 46 Net periodic benefit $ (257) $ (213)

Off-Balance Sheet Risk (Tables)

Off-Balance Sheet Risk (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021: (In Thousands) March 31, 2022 December 31, 2021 Commitments to extend credit $ 231,011 $ 184,364 Standby letters of credit 8,644 7,027 Credit exposure from the sale of assets with recourse 10,330 10,248 $ 249,985 $ 201,639

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021, 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, 2022 (In Thousands) Level I Level II Level III Total Assets measured on a recurring basis: Investment securities, available for sale: Mortgage-backed securities $ — $ 1,452 $ — $ 1,452 State and political securities — 127,556 — 127,556 Other debt securities — 46,666 — 46,666 Investment equity securities: Other equity securities 1,193 — — 1,193 Investment securities, trading: Other equity securities 36 — — 36 December 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 $ — $ 1,747 $ — $ 1,747 State and political securities — 116,658 — 116,658 Other debt securities — 48,005 — 48,005 Investment equity securities: Other equity securities 1,251 — — 1,251 Investment securities, trading: Other equity securities 37 — — 37
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, 2022 and December 31, 2021, 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, 2022 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 2,186 $ 2,186 Other real estate owned — — 136 136 December 31, 2021 (In Thousands) Level I Level II Level III Total Assets measured on a non-recurring basis: Impaired loans $ — $ — $ 2,360 $ 2,360 Other real estate owned — — 83 83
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, 2022 and December 31, 2021: March 31, 2022 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans 2,186 Appraisal of collateral (1) Appraisal adjustments (1) 0% to (34)% (14)% Other real estate owned $ 136 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, 2021 Quantitative Information About Level III Fair Value Measurements (In Thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range Weighted Average Impaired loans 2,360 Appraisal of collateral (1) Appraisal adjustments (1) 0% to (34)% (15)% Other real estate owned $ 83 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, 2022
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, 2022 and December 31, 2021: Carrying Fair Fair Value Measurements at March 31, 2022 (In Thousands) Value Value Level I Level II Level III Financial assets: Loans held for sale (1) $ 1,360 $ 1,360 $ 1,360 $ — $ — Loans, net 1,391,943 1,355,950 — — 1,355,950 Financial liabilities: Time deposits 173,600 168,061 — — 168,061 Short-term borrowings 6,634 6,634 6,634 — — Long-term borrowings 112,918 110,523 — — 110,523 (1) The financial instrument is carried at cost at, March 31, 2022 which approximate the fair value of the instruments Carrying Fair Fair Value Measurements at December 31, 2021 (In Thousands) Value Value Level I Level II Level III Financial assets: Loans held for sale (1) $ 3,725 $ 3,725 $ 3,725 $ — $ — Loans, net 1,377,971 1,379,787 — — 1,379,787 Financial liabilities: Time deposits 205,367 204,512 — — 204,512 Short-term borrowings 5,747 5,747 5,747 — — Long-term borrowings 125,963 127,679 — — 127,679 (1) The financial instrument is carried at cost at, December 31, 2021 which approximate the fair value of the instruments

Stock Options (Tables)

Stock Options (Tables)	3 Months Ended
	Mar. 31, 2022
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 January 18, 2022 156,000 — 156,000 $ 24.10 3 years 10 years January 18, 2022 78,000 — 78,000 24.10 5 years 10 years April 9, 2021 156,500 — 156,500 24.23 3 years 10 years April 9, 2021 78,000 — 78,000 24.23 5 years 10 years March 11, 2020 119,300 — 119,300 25.34 3 years 10 years March 11, 2020 119,200 — 119,200 25.34 5 years 10 years March 15, 2019 120,900 (14,850) 106,050 28.01 3 years 10 years March 15, 2019 119,100 (14,400) 104,700 28.01 5 years 10 years August 24, 2018 75,300 (11,550) 63,750 30.67 3 years 10 years August 24, 2018 149,250 (23,100) 126,150 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 (11,250) 58,125 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 (26,250) 31,875 28.02 5 years 10 years A summary of stock option activity is presented below: March 31, 2022 March 31, 2021 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding, beginning of year 1,034,525 $ 27.23 841,275 $ 28.17 Granted 234,000 24.10 — — Exercised — — — — Forfeited — — — — Expired — — — — Outstanding, end of period 1,268,525 $ 26.65 841,275 $ 28.17 Exercisable, end of period 311,925 $ 29.11 113,250 $ 29.13
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following is a summary of the assumptions used in this model for stock options granted for the three months ended March 31, 2022: Three months ended March 31, 2022 Risk-free interest rate 1.23 % Expected volatility 33 % Expected Annual dividend $ 1.28 Expected life 6.84 years Weighted average grant date fair value per option $ 4.28

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 December 31, 2021 Finance lease right of use assets Premises and equipment, net $ 7,328 $ 7,435 Finance lease liabilities Long-term borrowings 7,918 7,963
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, 2022 and 2021: Three Months Ended March 31, (In Thousands) 2022 2021 Finance Lease Cost: Amortization of right-of-use asset $ 108 $ 152 Interest expense 61 71 Operating lease cost 72 76 Variable lease cost — — Total Lease Cost $ 241 $ 299 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, 2022. Operating Finance Weighted-average term (years) 17.5 24.1 Weighted-average discount rate 3.53 % 3.20 %
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 2022 $ 218 $ 315 2023 265 421 2024 255 427 2025 257 929 2026 260 387 2027 and thereafter 2,568 9,276 Total undiscounted cash flows 3,823 11,755 Discount on cash flows (976) (3,837) Total lease liability $ 2,847 $ 7,918
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 2022 $ 218 $ 315 2023 265 421 2024 255 427 2025 257 929 2026 260 387 2027 and thereafter 2,568 9,276 Total undiscounted cash flows 3,823 11,755 Discount on cash flows (976) (3,837) Total lease liability $ 2,847 $ 7,918

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Gain (Loss) - Schedule of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 172,274	$ 164,146
Ending balance	168,427	164,063
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,112)	(882)
Other comprehensive gain (loss) before reclassifications	(5,449)	(1,510)
Amounts reclassified from accumulated other comprehensive (loss) gain	15	(73)
Net current-period other comprehensive (loss) income	(5,434)	(1,583)
Ending balance	(6,546)	(2,465)
Net Unrealized Gain (Loss) on Available for Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,373	4,714
Other comprehensive gain (loss) before reclassifications	(5,449)	(1,510)
Amounts reclassified from accumulated other comprehensive (loss) gain	2	(109)
Net current-period other comprehensive (loss) income	(5,447)	(1,619)
Ending balance	(3,074)	3,095
Defined Benefit  Plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,485)	(5,596)
Other comprehensive gain (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive (loss) gain	13	36
Net current-period other comprehensive (loss) income	13	36
Ending balance	$ (3,472)	$ (5,560)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Gain (Loss) - Schedule of Reclassifications out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reclassifications out of accumulated other comprehensive income
Net unrealized (loss) gain on available for sale securities	$ (2)	$ 138
Income tax effect	(676)	(771)
Net unrecognized pension costs	(1,452)	(1,098)
Net Income	3,432	3,441
Amount Reclassified from Accumulated Other Comprehensive Loss | Net Unrealized Gain (Loss) on Available for Sale Securities
Reclassifications out of accumulated other comprehensive income
Net unrealized (loss) gain on available for sale securities	(2)	138
Income tax effect	0	(29)
Net Income	(2)	109
Amount Reclassified from Accumulated Other Comprehensive Loss | Defined Benefit  Plan
Reclassifications out of accumulated other comprehensive income
Income tax effect	4	10
Net unrecognized pension costs	(17)	(46)
Net Income	$ (13)	$ (36)

Per Share Data - Narrative (Det

Per Share Data - Narrative (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	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)	1,268,525	841,275	1,034,525	841,275	31,875
Outstanding, weighted average exercise price (in dollars per share)	$ 26.65	$ 28.17	$ 27.23	$ 28.17
Average share price (in dollars per share)	$ 24.24	$ 20.21

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, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Weighted average common shares issued (in shares)	7,552,800	7,535,341
Weighted average treasury stock shares (in shares)	(480,225)	(480,225)
Weighted average shares outstanding - basic (in shares)	7,072,575	7,055,116
Weighted average common shares outstanding - diluted (in shares)	7,072,575	7,055,116

Investment Securities - Amortiz

Investment Securities - Amortized Cost and Fair Values of Investment Securities Available for Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Available for sale (AFS):
Total	$ 179,565
Fair value	175,674	$ 166,410
Investment equity securities:
Fair value	1,193	1,251
Trading:
Fair value	36	37
Total debt securities
Available for sale (AFS):
Total	179,565	163,406
Gross unrealized gains	967	4,024
Gross unrealized losses	(4,858)	(1,020)
Fair value	175,674	166,410
Mortgage-backed securities
Available for sale (AFS):
Total	1,532	1,752
Gross unrealized gains	0	0
Gross unrealized losses	(80)	(5)
Fair value	1,452	1,747
State and political securities
Available for sale (AFS):
Total	129,868	113,852
Gross unrealized gains	926	3,500
Gross unrealized losses	(3,238)	(694)
Fair value	127,556	116,658
Other debt securities
Available for sale (AFS):
Total	48,165	47,802
Gross unrealized gains	41	524
Gross unrealized losses	(1,540)	(321)
Fair value	46,666	48,005
Other equity securities
Investment equity securities:
Amortized cost - total	1,300	1,300
Gross unrealized gains	0	0
Gross unrealized losses	(107)	(49)
Fair value	1,193	1,251
Trading:
Amortized cost - total	50	50
Gross unrealized gains	0	0
Gross unrealized losses	(14)	(13)
Fair value	$ 36	$ 37

Investment Securities - Gross U

Investment Securities - Gross Unrealized Losses and Fair Value by Investment Category (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Total debt securities
Investment securities
Fair value, less than twelve months	$ 102,900	$ 57,396
Gross unrealized losses, less than twelve months	(3,646)	(704)
Fair value, twelve months or greater	17,112	9,216
Gross unrealized losses, twelve months or greater	(1,212)	(316)
Fair value, total	120,012	66,612
Gross unrealized losses, total	(4,858)	(1,020)
Mortgage-backed securities
Investment securities
Fair value, less than twelve months	1,452	1,747
Gross unrealized losses, less than twelve months	(80)	(5)
Fair value, twelve months or greater	0	0
Gross unrealized losses, twelve months or greater	0	0
Fair value, total	1,452	1,747
Gross unrealized losses, total	(80)	(5)
State and political securities
Investment securities
Fair value, less than twelve months	71,755	34,203
Gross unrealized losses, less than twelve months	(2,242)	(398)
Fair value, twelve months or greater	12,375	7,408
Gross unrealized losses, twelve months or greater	(996)	(296)
Fair value, total	84,130	41,611
Gross unrealized losses, total	(3,238)	(694)
Other debt securities
Investment securities
Fair value, less than twelve months	29,693	21,446
Gross unrealized losses, less than twelve months	(1,324)	(301)
Fair value, twelve months or greater	4,737	1,808
Gross unrealized losses, twelve months or greater	(216)	(20)
Fair value, total	34,430	23,254
Gross unrealized losses, total	$ (1,540)	$ (321)

Investment Securities - Narrati

Investment Securities - Narrative (Details)	3 Months Ended
	Mar. 31, 2022USD ($)security	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
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	172
Number of individual securities that were in a continuous unrealized loss position for greater than twelve months (in securities) | security	25
Gross proceeds from sales of securities	$ 90,000	$ 11,372,000
Impairment charges	0	$ 0
Carrying value of investment securities pledged	146,810,000		$ 139,435,000
Investment equity securities, at fair value	$ 1,193,000		$ 1,251,000

Investment Securities - Amort_2

Investment Securities - Amortized Cost and Fair Value of Debt Securities (Details) $ in Thousands	Mar. 31, 2022USD ($)
Amortized Cost
Due in one year or less	$ 12,419
Due after one year to five years	104,442
Due after five years to ten years	60,675
Due after ten years	2,029
Total	179,565
Fair Value
Due in one year or less	12,400
Due after one year to five years	101,967
Due after five years to ten years	59,347
Due after ten years	1,960
Total	$ 175,674

Investment Securities - Total G

Investment Securities - Total Gross Proceeds from Sales of Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Available for sale (AFS):
Available-for-sale securities, gross realized gains	$ 1	$ 138
Available-for-sale securities, gross realized losses	3	0
Mortgage-backed securities
Available for sale (AFS):
Available-for-sale securities, gross realized gains	0	0
State and political securities
Available for sale (AFS):
Available-for-sale securities, gross realized gains	1	0
Available-for-sale securities, gross realized losses	3	0
Other debt securities
Available for sale (AFS):
Available-for-sale securities, gross realized gains	0	138
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, 2022	Mar. 31, 2021
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Net losses recognized in equity securities during the period	$ (58)	$ (23)
Less: Net gains realized on the sale of equity securities during the period	0	0
Unrealized losses recognized in equity securities held at reporting date	(58)	(23)
Debt Securities, Trading, Gain (Loss) [Abstract]
Net gains on sale transactions	0	0
Net mark-to-market (losses) gains	(1)	4
Net (loss) gain on trading account securities	$ (1)	$ 4

Loans - Narrative (Details)

Loans - Narrative (Details)	3 Months Ended
	Mar. 31, 2022USD ($)componentclasscontractcategory	Mar. 31, 2021USD ($)contract	Dec. 31, 2021USD ($)
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	0	2
Number of TDRs that defaulted (in contracts) | contract	1	1
Recorded investment | $	$ 9,084,000		$ 9,410,000
Real estate acquired through foreclosure | $	136,000		339,000
Mortgage loans in process of foreclosure, amount | $	$ 204,000		$ 193,000
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
Percentage of loan review evaluated	0.55
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
Commercial, financial, and agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan modifications (in contracts) | contract		0
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 | $	$ 400,000	$ 687,000
COVID-19 Modifications
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan modifications (in contracts) | contract	1,372	1,365
Number of loan modifications remaining (in contracts) | contract	1	70
Loan modifications, amount | $	$ 158,000	$ 12,345,000

Loans - Aging Categories of Loa

Loans - Aging Categories of Loans by Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	$ 1,405,966	$ 1,392,147
Past due 90 days or more & still accruing	364	861
Non-accrual	4,917	5,389
Total	1,405,706	1,391,846
Net deferred loan fees and discounts	260	301
Allowance for loan losses	(14,023)	(14,176)	$ (14,202)	$ (13,803)
Current loans, net	1,382,982	1,366,184
Loans, net	1,391,943	1,377,971
Current
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	1,396,745	1,380,059
Past Due 30 to 89 Days
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	3,680	5,537
Commercial, financial, and agricultural
Aging categories of loans by segment
Past due 90 days or more & still accruing	0	0
Non-accrual	509	575
Total	162,273	163,285
Allowance for loan losses	(1,936)	(1,946)	(2,606)	(1,936)
Commercial, financial, and agricultural | Current
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	161,764	162,571
Commercial, financial, and agricultural | Past Due 30 to 89 Days
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	0	139
Real Estate Mortgages | Residential
Aging categories of loans by segment
Past due 90 days or more & still accruing	319	687
Non-accrual	715	837
Total	613,161	595,847
Allowance for loan losses	(4,801)	(4,701)	(4,401)	(4,460)
Real Estate Mortgages | Residential | Current
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	609,728	590,240
Real Estate Mortgages | Residential | Past Due 30 to 89 Days
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	2,399	4,083
Real Estate Mortgages | Commercial
Aging categories of loans by segment
Past due 90 days or more & still accruing	0	0
Non-accrual	3,693	3,937
Total	443,415	446,734
Allowance for loan losses	(5,215)	(5,336)	(4,176)	(3,635)
Real Estate Mortgages | Commercial | Current
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	439,344	442,573
Real Estate Mortgages | Commercial | Past Due 30 to 89 Days
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	378	224
Real Estate Mortgages | Construction
Aging categories of loans by segment
Past due 90 days or more & still accruing	0	0
Non-accrual	0	40
Total	41,923	37,295
Allowance for loan losses	(197)	(179)	(142)	(134)
Real Estate Mortgages | Construction | Current
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	41,609	36,701
Real Estate Mortgages | Construction | Past Due 30 to 89 Days
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	314	554
Consumer automobile loans
Aging categories of loans by segment
Past due 90 days or more & still accruing	8	143
Non-accrual	0	0
Total	135,568	139,408
Allowance for loan losses	(1,376)	(1,411)	(1,735)	(1,906)
Consumer automobile loans | Current
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	135,015	138,775
Consumer automobile loans | Past Due 30 to 89 Days
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	545	490
Other consumer installment loans
Aging categories of loans by segment
Past due 90 days or more & still accruing	37	31
Non-accrual	0	0
Total	9,366	9,277
Allowance for loan losses	(114)	(111)	$ (235)	$ (261)
Other consumer installment loans | Current
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	9,285	9,199
Other consumer installment loans | Past Due 30 to 89 Days
Aging categories of loans by segment
Loans, current and past due 30 to 89 days	$ 44	$ 47

Loans - Recorded Investment, Un

Loans - Recorded Investment, Unpaid Principal Balance, Related Allowance of Impaired Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	$ 6,973	$ 7,439
Recorded investment, with an allowance recorded	6,360	6,546
Recorded investment	13,333	13,985
Unpaid principal balance, with no related allowance recorded	6,973	7,439
Unpaid principal balance, with an allowance recorded	9,147	9,333
Unpaid principal balance	16,120	16,772
Related allowance	954	1,023
Commercial, financial, and agricultural
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	346	355
Recorded investment, with an allowance recorded	470	534
Recorded investment	816	889
Unpaid principal balance, with no related allowance recorded	346	355
Unpaid principal balance, with an allowance recorded	3,257	3,321
Unpaid principal balance	3,603	3,676
Related allowance	2	2
Real Estate Mortgages | Residential
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	3,678	3,874
Recorded investment, with an allowance recorded	1,159	1,178
Recorded investment	4,837	5,052
Unpaid principal balance, with no related allowance recorded	3,678	3,874
Unpaid principal balance, with an allowance recorded	1,159	1,178
Unpaid principal balance	4,837	5,052
Related allowance	192	201
Real Estate Mortgages | Commercial
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	2,884	3,105
Recorded investment, with an allowance recorded	4,712	4,814
Recorded investment	7,596	7,919
Unpaid principal balance, with no related allowance recorded	2,884	3,105
Unpaid principal balance, with an allowance recorded	4,712	4,814
Unpaid principal balance	7,596	7,919
Related allowance	741	800
Real Estate Mortgages | Construction
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	65	105
Recorded investment, with an allowance recorded	0	0
Recorded investment	65	105
Unpaid principal balance, with no related allowance recorded	65	105
Unpaid principal balance, with an allowance recorded	0	0
Unpaid principal balance	65	105
Related allowance	0	0
Consumer automobile loans
Credit Quality and Related Allowance for Loan Losses
Recorded investment, with no related allowance recorded	0	0
Recorded investment, with an allowance recorded	0	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
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	19	20
Recorded investment	19	20
Unpaid principal balance, with no related allowance recorded	0	0
Unpaid principal balance, with an allowance recorded	19	20
Unpaid principal balance	19	20
Related allowance	$ 19	$ 20

Loans - Average Recorded Invest

Loans - Average Recorded Investment - Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Credit Quality and Related Allowance for Loan Losses
Average Investment in Impaired Loans	$ 13,659	$ 16,310
Interest Income Recognized on an Accrual Basis on Impaired Loans	104	79
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	853	864
Interest Income Recognized on an Accrual Basis on Impaired Loans	5	0
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	4,944	6,081
Interest Income Recognized on an Accrual Basis on Impaired Loans	46	51
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	7,757	9,167
Interest Income Recognized on an Accrual Basis on Impaired Loans	52	28
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	85	122
Interest Income Recognized on an Accrual Basis on Impaired Loans	1	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	0	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	20	0
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, 2022contract	Mar. 31, 2021USD ($)contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of contracts (in contracts) | contract	0	2
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 (in 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 (in 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 (in 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 (in 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, 2022	Dec. 31, 2021
Credit quality categories
Total	$ 1,405,706	$ 1,391,846
Pass
Credit quality categories
Total	1,386,881	1,370,803
Special Mention
Credit quality categories
Total	5,671	7,302
Substandard
Credit quality categories
Total	13,154	13,741
Commercial, financial, and agricultural
Credit quality categories
Total	162,273	163,285
Commercial, financial, and agricultural | Pass
Credit quality categories
Total	160,048	160,899
Commercial, financial, and agricultural | Special Mention
Credit quality categories
Total	209	234
Commercial, financial, and agricultural | Substandard
Credit quality categories
Total	2,016	2,152
Consumer automobile
Credit quality categories
Total	135,568	139,408
Consumer automobile | Pass
Credit quality categories
Total	135,568	139,408
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	9,366	9,277
Other consumer installment loans | Pass
Credit quality categories
Total	9,347	9,257
Other consumer installment loans | Special Mention
Credit quality categories
Total	0	0
Other consumer installment loans | Substandard
Credit quality categories
Total	19	20
Residential | Real Estate Mortgages
Credit quality categories
Total	613,161	595,847
Residential | Real Estate Mortgages | Pass
Credit quality categories
Total	610,038	592,570
Residential | Real Estate Mortgages | Special Mention
Credit quality categories
Total	275	284
Residential | Real Estate Mortgages | Substandard
Credit quality categories
Total	2,848	2,993
Commercial | Real Estate Mortgages
Credit quality categories
Total	443,415	446,734
Commercial | Real Estate Mortgages | Pass
Credit quality categories
Total	430,063	432,158
Commercial | Real Estate Mortgages | Special Mention
Credit quality categories
Total	5,187	6,108
Commercial | Real Estate Mortgages | Substandard
Credit quality categories
Total	8,165	8,468
Construction | Real Estate Mortgages
Credit quality categories
Total	41,923	37,295
Construction | Real Estate Mortgages | Pass
Credit quality categories
Total	41,817	36,511
Construction | Real Estate Mortgages | Special Mention
Credit quality categories
Total	0	676
Construction | Real Estate Mortgages | Substandard
Credit quality categories
Total	$ 106	$ 108

Loans - Allowance for Credit Lo

Loans - Allowance for Credit Losses on Financing Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Allowance for Loan Losses:
Beginning Balance	$ 14,176	$ 13,803
Charge-offs	(344)	(174)
Recoveries	41	58
Provision	150	515
Ending Balance	14,023	14,202
Commercial, financial, and agricultural
Allowance for Loan Losses:
Beginning Balance	1,946	1,936
Charge-offs	0	(35)
Recoveries	4	5
Provision	(14)	700
Ending Balance	1,936	2,606
Real Estate Mortgages | Residential
Allowance for Loan Losses:
Beginning Balance	4,701	4,460
Charge-offs	0	(14)
Recoveries	3	3
Provision	97	(48)
Ending Balance	4,801	4,401
Real Estate Mortgages | Commercial
Allowance for Loan Losses:
Beginning Balance	5,336	3,635
Charge-offs	(155)	0
Recoveries	1	0
Provision	33	541
Ending Balance	5,215	4,176
Real Estate Mortgages | Construction
Allowance for Loan Losses:
Beginning Balance	179	134
Charge-offs	0	0
Recoveries	0	5
Provision	18	3
Ending Balance	197	142
Consumer automobile loans
Allowance for Loan Losses:
Beginning Balance	1,411	1,906
Charge-offs	(129)	(96)
Recoveries	9	17
Provision	85	(92)
Ending Balance	1,376	1,735
Other consumer installment loans
Allowance for Loan Losses:
Beginning Balance	111	261
Charge-offs	(60)	(29)
Recoveries	24	28
Provision	39	(25)
Ending Balance	114	235
Unallocated
Allowance for Loan Losses:
Beginning Balance	492	1,471
Charge-offs	0	0
Recoveries	0	0
Provision	(108)	(564)
Ending Balance	$ 384	$ 907

Loans - Schedule of Concentrati

Loans - Schedule of Concentration Risk (Details) - Owners of rental properties - Financing receivable	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Residential
Concentration Risk [Line Items]
Concentration of loans (as a percent)	19.95%	16.73%
Commercial
Concentration Risk [Line Items]
Concentration of loans (as a percent)	15.60%	13.66%

Loans - Allowance for Loan Loss

Loans - Allowance for Loan Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$ 954	$ 1,023
Collectively evaluated for impairment	13,069	13,153
Total ending allowance balance	14,023	14,176	$ 14,202	$ 13,803
Loans:
Individually evaluated for impairment	13,333	13,985
Collectively evaluated for impairment	1,392,373	1,377,861
Total	1,405,706	1,391,846
Commercial, financial, and agricultural
Ending allowance balance attributable to loans:
Individually evaluated for impairment	2	2
Collectively evaluated for impairment	1,934	1,944
Total ending allowance balance	1,936	1,946	2,606	1,936
Loans:
Individually evaluated for impairment	816	889
Collectively evaluated for impairment	161,457	162,396
Total	162,273	163,285
Real Estate Mortgages | Residential
Ending allowance balance attributable to loans:
Individually evaluated for impairment	192	201
Collectively evaluated for impairment	4,609	4,500
Total ending allowance balance	4,801	4,701	4,401	4,460
Loans:
Individually evaluated for impairment	4,837	5,052
Collectively evaluated for impairment	608,324	590,795
Total	613,161	595,847
Real Estate Mortgages | Commercial
Ending allowance balance attributable to loans:
Individually evaluated for impairment	741	800
Collectively evaluated for impairment	4,474	4,536
Total ending allowance balance	5,215	5,336	4,176	3,635
Loans:
Individually evaluated for impairment	7,596	7,919
Collectively evaluated for impairment	435,819	438,815
Total	443,415	446,734
Real Estate Mortgages | Construction
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	197	179
Total ending allowance balance	197	179	142	134
Loans:
Individually evaluated for impairment	65	105
Collectively evaluated for impairment	41,858	37,190
Total	41,923	37,295
Consumer automobile loans
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	1,376	1,411
Total ending allowance balance	1,376	1,411	1,735	1,906
Loans:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	135,568	139,408
Total	135,568	139,408
Other consumer installment loans
Ending allowance balance attributable to loans:
Individually evaluated for impairment	19	20
Collectively evaluated for impairment	95	91
Total ending allowance balance	114	111	235	261
Loans:
Individually evaluated for impairment	19	20
Collectively evaluated for impairment	9,347	9,257
Total	9,366	9,277
Unallocated
Ending allowance balance attributable to loans:
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	384	492
Total ending allowance balance	$ 384	$ 492	$ 907	$ 1,471

Net Periodic Benefit Cost-Def_3

Net Periodic Benefit Cost-Defined Benefit Plans (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net periodic benefit cost of the domestic non-contributory defined benefit plan
Interest cost	$ 138,000	$ 127,000
Expected return on plan assets	(412,000)	(386,000)
Amortization of net loss	17,000	46,000
Net periodic benefit	(257,000)	$ (213,000)
Employer contributions made to the defined benefit plan	$ 0

Employee Stock Purchase Plan (D

Employee Stock Purchase Plan (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Employee Stock Purchase Plan
Common shares issued for employee stock purchase plan	$ 21,000	$ 20,000
Employee Stock
Employee Stock Purchase Plan
Number of shares allowed to be purchased by employees (in shares)	1,500,000
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)	880	939

Off-Balance Sheet Risk (Details

Off-Balance Sheet Risk (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Off Balance Sheet Risk
Contract amounts representing credit risk	$ 249,985	$ 201,639
Commitments to extend credit
Off Balance Sheet Risk
Contract amounts representing credit risk	231,011	184,364
Standby letters of credit
Off Balance Sheet Risk
Contract amounts representing credit risk	$ 8,644	7,027
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	$ 10,330	$ 10,248

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Assets (Details) - Recurring - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Mortgage-backed securities
Fair Value Measurements [Abstract]
Total assets, fair value	$ 1,452	$ 1,747
State and political securities
Fair Value Measurements [Abstract]
Total assets, fair value	127,556	116,658
Other debt securities
Fair Value Measurements [Abstract]
Total assets, fair value	46,666	48,005
Other equity securities
Fair Value Measurements [Abstract]
Total assets, fair value	1,193	1,251
Other equity securities
Fair Value Measurements [Abstract]
Total assets, fair value	36	37
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	1,193	1,251
Level I | Other equity securities
Fair Value Measurements [Abstract]
Total assets, fair value	36	37
Level II | Mortgage-backed securities
Fair Value Measurements [Abstract]
Total assets, fair value	1,452	1,747
Level II | State and political securities
Fair Value Measurements [Abstract]
Total assets, fair value	127,556	116,658
Level II | Other debt securities
Fair Value Measurements [Abstract]
Total assets, fair value	46,666	48,005
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, 2022	Dec. 31, 2021
Impaired loans
Fair Value Measurements [Abstract]
Total assets, fair value	$ 2,186	$ 2,360
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	2,186	2,360
Other real estate owned
Fair Value Measurements [Abstract]
Total assets, fair value	136	83
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	$ 136	$ 83

Fair Value Measurements - Signi

Fair Value Measurements - Significant Unobservable Inputs (Details) - Nonrecurring - Level III - Appraisal of collateral $ in Thousands	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques
Impaired loans, fair value	$ 2,186	$ 2,360
Other real estate owned, fair value	$ 136	$ 83
Measurement input, appraised value
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)
Measurement input, appraised value | 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
Measurement input, appraised value | 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	(0.34)	(0.34)
Measurement input, appraised value | 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	(0.14)	(0.15)
Other real estate owned, measurement input percentage	(0.20)	(0.20)

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Level I
Financial assets:
Loans held for sale	$ 1,360	$ 3,725
Loans, net	0	0
Financial liabilities:
Time deposits	0	0
Short-term borrowings	6,634	5,747
Long-term borrowings	0	0
Level II
Financial assets:
Loans held for sale	0	0
Loans, net	0	0
Financial liabilities:
Time deposits	0	0
Short-term borrowings	0	0
Long-term borrowings	0	0
Level III
Financial assets:
Loans held for sale	0	0
Loans, net	1,355,950	1,379,787
Financial liabilities:
Time deposits	168,061	204,512
Short-term borrowings	0	0
Long-term borrowings	110,523	127,679
Carrying Value
Financial assets:
Loans held for sale	1,360	3,725
Loans, net	1,391,943	1,377,971
Financial liabilities:
Time deposits	173,600	205,367
Short-term borrowings	6,634	5,747
Long-term borrowings	112,918	125,963
Fair Value
Financial assets:
Loans held for sale	1,360	3,725
Loans, net	1,355,950	1,379,787
Financial liabilities:
Time deposits	168,061	204,512
Short-term borrowings	6,634	5,747
Long-term borrowings	$ 110,523	$ 127,679

Stock Options - Narrative (Deta

Stock Options - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 18, 2022	Apr. 09, 2021	Mar. 11, 2020	Mar. 15, 2019	Aug. 24, 2018	Jan. 05, 2018	Mar. 24, 2017	Aug. 27, 2015	Mar. 31, 2022	Mar. 31, 2021	Jan. 01, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Stock Purchase Plan
Options, outstanding (in shares)								31,875	1,268,525	841,275		1,034,525	841,275
Granted (in shares)								58,125	234,000	0
Granted (in dollars per share)								$ 28.02	$ 24.10	$ 0
Exercisable period (in years)								5 years
Tranche One
Employee Stock Purchase Plan
Options, outstanding (in shares)	156,000	156,500	119,300	106,050	63,750	18,750	58,125
Granted (in shares)	156,000	156,500	119,300	120,900	75,300	18,750	69,375		156,000
Granted (in dollars per share)	$ 24.10	$ 24.23	$ 25.34	$ 28.01	$ 30.67	$ 30.07	$ 29.47
Exercisable period (in years)	3 years	3 years	3 years	3 years	3 years	3 years	3 years
Tranche Two
Employee Stock Purchase Plan
Options, outstanding (in shares)	78,000	78,000	119,200	104,700	126,150	18,750	33,375
Granted (in shares)	78,000	78,000	119,200	119,100	149,250	18,750	35,625		78,000
Granted (in dollars per share)	$ 24.10	$ 24.23	$ 25.34	$ 28.01	$ 30.67	$ 30.07	$ 29.47
Exercisable period (in years)	5 years	5 years	5 years	5 years	5 years	5 years	5 years
Employee Stock Option
Employee Stock Purchase Plan
Options, outstanding (in shares)											1,034,525
Exercisable period (in years)									10 years
Compensation expense									$ 315	$ 220
Number of exercisable options (in shares)									311,925
Weighted average remaining contractual term (in years)									6 years 8 months 12 days
Unrecognized compensation cost for non-vested shares									$ 2,551
Period for recognition (in years)									1 year 4 months 24 days
Employee Stock Option | Tranche One
Employee Stock Purchase Plan
Exercisable period (in years)									3 years
Employee Stock Option | Tranche Two
Employee Stock Purchase Plan
Exercisable period (in years)									5 years

Stock Options - Schedule of Sto

Stock Options - Schedule of Stock Options Granted (Details) - $ / shares	Jan. 18, 2022	Apr. 09, 2021	Mar. 11, 2020	Mar. 15, 2019	Aug. 24, 2018	Jan. 05, 2018	Mar. 24, 2017	Aug. 27, 2015	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Employee Stock Purchase Plan
Shares (in shares)								58,125	234,000	0
Forfeited (in shares)								(26,250)	0	0
Outstanding (in shares)								31,875	1,268,525	841,275	1,034,525	841,275
Strike price (in dollars per share)								$ 28.02	$ 24.10	$ 0
Vesting period (in years)								5 years
Expiration (in years)								10 years
Tranche One
Employee Stock Purchase Plan
Shares (in shares)	156,000	156,500	119,300	120,900	75,300	18,750	69,375		156,000
Forfeited (in shares)	0	0	0	(14,850)	(11,550)	0	(11,250)
Outstanding (in shares)	156,000	156,500	119,300	106,050	63,750	18,750	58,125
Strike price (in dollars per share)	$ 24.10	$ 24.23	$ 25.34	$ 28.01	$ 30.67	$ 30.07	$ 29.47
Vesting period (in years)	3 years	3 years	3 years	3 years	3 years	3 years	3 years
Expiration (in years)	10 years	10 years	10 years	10 years	10 years	10 years	10 years
Tranche Two
Employee Stock Purchase Plan
Shares (in shares)	78,000	78,000	119,200	119,100	149,250	18,750	35,625		78,000
Forfeited (in shares)	0	0	0	(14,400)	(23,100)	0	(2,250)
Outstanding (in shares)	78,000	78,000	119,200	104,700	126,150	18,750	33,375
Strike price (in dollars per share)	$ 24.10	$ 24.23	$ 25.34	$ 28.01	$ 30.67	$ 30.07	$ 29.47
Vesting period (in years)	5 years	5 years	5 years	5 years	5 years	5 years	5 years
Expiration (in years)	10 years	10 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, 2022	Mar. 31, 2021
Shares
Outstanding, beginning of year (in shares)		1,034,525	841,275
Granted (in shares)	58,125	234,000	0
Exercised (in shares)		0	0
Forfeited (in shares)	(26,250)	0	0
Expired (in shares)		0	0
Outstanding, end of period (in shares)	31,875	1,268,525	841,275
Exercisable, end of period (in shares)		311,925	113,250
Weighted Average Exercise Price
Outstanding, weighted average exercise price (in dollars per share)		$ 27.23	$ 28.17
Granted (in dollars per share)	$ 28.02	24.10	0
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)		26.65	28.17
Exercisable, end of period (in dollars per share)		$ 29.11	$ 29.13

Stock Options - Fair Value Assu

Stock Options - Fair Value Assumptions (Details)	3 Months Ended
	Mar. 31, 2022$ / shares
Share-based Payment Arrangement [Abstract]
Risk-free interest rate	1.23%
Expected volatility	33.00%
Expected Annual dividend (in dollars per share)	$ 1.28
Expected life	6 years 10 months 2 days
Weighted average grant date fair value per option (in dollars per share)	$ 4.28

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Premises and equipment, net	Premises and equipment, net
Finance lease right of use assets	$ 7,328	$ 7,435
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Long-term borrowings	Long-term borrowings
Finance lease liabilities	$ 7,918	$ 7,963

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Finance Lease Cost:
Amortization of right-of-use asset	$ 108	$ 152
Interest expense	61	71
Operating lease cost	72	76
Variable lease cost	0	0
Total Lease Cost	$ 241	$ 299

Leases - Maturity Schedule (Det

Leases - Maturity Schedule (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Operating
2022	$ 218
2023	265
2024	255
2025	257
2026	260
2027 and thereafter	2,568
Total undiscounted cash flows	3,823
Discount on cash flows	(976)
Total lease liability	2,847	$ 2,898
Finance
2022	315
2023	421
2024	427
2025	929
2026	387
2027 and thereafter	9,276
Total undiscounted cash flows	11,755
Discount on cash flows	(3,837)
Total lease liability	$ 7,918

Leases - Weighted Average Term

Leases - Weighted Average Term and Discount Rate (Details)	Mar. 31, 2022
Operating
Weighted-average term (years)	17 years 6 months
Weighted-average discount rate	3.53%
Finance
Weighted-average term (years)	24 years 1 month 6 days
Weighted-average discount rate	3.20%

Reclassification of Comparati_2

Reclassification of Comparative Amounts (Details)	3 Months Ended
	Mar. 31, 2022USD ($)
Reclassification of Comparative Amounts
Effect of reclassification adjustment on net income or shareholders' equity	$ 0