Partners Bancorp (PTRS) 10-K 29 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 29, 2022	Jun. 30, 2021
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Entity File Number	001-39285
Document Period End Date	Dec. 31, 2021
Entity Registrant Name	Partners Bancorp
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	52-1559535
Entity Address, Address Line One	2245 Northwood Drive
Entity Address, City or Town	Salisbury
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21801
City Area Code	410
Local Phone Number	548-1100
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	PTRS
Security Exchange Name	NASDAQ
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 78,977,410
Entity Common Stock, Shares Outstanding		17,961,699
Auditor Name	Yount, Hyde & Barbour, P.C.
Auditor Firm ID	613
Auditor Location	Richmond, Virginia
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0000832090
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and due from banks	$ 12,887	$ 13,643
Interest bearing deposits in other financial institutions	297,902	218,667
Federal funds sold	28,040	50,301
Cash and cash equivalents	338,829	282,611
Securities available for sale, at fair value	122,021	124,925
Loans held for sale	4,064	9,858
Loans, less allowance for credit losses of $14,656 at December 31, 2021 and $13,203 at December 31, 2020	1,102,539	1,022,302
Accrued interest receivable	4,313	5,229
Premises and equipment, less accumulated depreciation	16,175	15,439
Restricted stock	4,869	5,445
Operating lease right-of-use assets	6,009	3,983
Financing lease right-of-use assets	1,687	1,824
Other investments	5,065	5,091
Deferred income taxes, net	4,715	4,395
Bank owned life insurance	18,254	14,841
Other real estate owned, net	837	2,677
Core deposit intangible, net	2,060	2,660
Goodwill	9,582	9,582
Other assets	3,960	3,359
Total assets	1,644,979	1,514,221
Deposits:
Non-interest bearing demand	493,913	390,511
Interest bearing demand	159,421	125,131
Savings and money market	410,286	323,488
Time	379,256	429,010
Deposits, Total	1,442,876	1,268,140
Accrued interest payable on deposits	280	402
Long-term borrowings with the Federal Home Loan Bank	26,313	32,972
Subordinated notes payable, net	22,168	24,101
Other borrowings	755	42,382
Operating lease liabilities	6,372	4,301
Financing lease liabilities	2,125	2,242
Other liabilities	2,722	2,986
Total liabilities	1,503,611	1,377,526
COMMITMENTS, CONTINGENCIES & SUBSEQUENT EVENT
STOCKHOLDERS' EQUITY
Common stock, par value $.01, authorized 40,000,000 shares, issued and outstanding 17,941,604 as of December 31, 2021 and 17,758,448 as of December 31, 2020, including 28,000 nonvested shares as of December 31, 2021 and 0 nonvested shares as of December 31, 2020	179	178
Surplus	88,390	87,200
Retained earnings	51,305	45,673
Noncontrolling interest in consolidated subsidiaries	1,179	1,346
Accumulated other comprehensive income, net of tax	315	2,298
Total stockholders' equity	141,368	136,695
Total liabilities and stockholders' equity	$ 1,644,979	$ 1,514,221

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Allowance for credit losses	$ 14,656	$ 13,203	$ 7,304
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	17,941,604	17,758,448
Common stock, shares outstanding	17,941,604	17,758,448
Nonvested shares	28,000	0

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
INTEREST INCOME ON:
Loans, including fees	$ 52,757	$ 52,805
Investment securities:
Taxable	1,101	1,641
Tax -Exempt	863	941
Federal funds sold	59	126
Other interest income	573	584
TOTAL INTEREST INCOME	55,353	56,097
INTEREST EXPENSE ON:
Deposits	6,676	9,427
Borrowings	2,247	2,788
TOTAL INTEREST EXPENSE	8,923	12,215
NET INTEREST INCOME	46,430	43,882
Provisions for credit losses	2,323	6,894
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	44,107	36,988
OTHER INCOME:
Service charges on deposit accounts	811	849
Gain on sales and calls of investment securities	27	601
Mortgage banking income, net	3,759	4,042
Gain (losses) on disposal of other assets, net	1	(1)
Other income	3,724	3,001
TOTAL OTHER INCOME	8,322	8,492
OTHER EXPENSES:
Salaries and employee benefits	23,343	20,304
Premises and equipment	5,136	4,603
Amortization of core deposit intangible	600	713
Losses on other real estate owned	170	101
Merger related expenses	979	8
Other expenses	12,059	11,705
TOTAL OTHER EXPENSES	42,287	37,434
INCOME BEFORE TAXES ON INCOME	10,142	8,046
Federal and state income taxes	2,247	1,723
NET INCOME	7,895	6,323
Net (income) attributable to noncontrolling interest	(484)	(653)
NET INCOME ATTRIBUTABLE TO PARTNERS BANCORP	$ 7,411	$ 5,670
Earnings per common share
Basic earnings per share	$ 0.417	$ 0.318
Diluted earnings per share	$ 0.416	$ 0.318

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
NET INCOME	$ 7,895	$ 6,323
OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX:
Unrealized holding (losses) gains on securities available for sale arising during the period	(2,571)	2,723
Deferred income tax liabilities	609	(722)
Other comprehensive (loss) income, net of tax	(1,962)	2,001
Reclassification adjustment for gains included in net income	(27)	(601)
Deferred income tax liabilities	6	159
Other comprehensive loss, net of tax	(21)	(442)
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME	(1,983)	1,559
TOTAL COMPREHENSIVE INCOME	5,912	7,882
COMPREHENSIVE (INCOME) ATTRIBUTABLE TO NONCONTROLLING INTEREST	(484)	(653)
COMPREHENSIVE INCOME ATTRIBUTABLE TO PARTNERS BANCORP	$ 5,428	$ 7,229

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Noncontrolling Interest	Accumulated Other Comprehensive Income	Total
Balances at beginning of period at Dec. 31, 2019	$ 178	$ 87,437	$ 41,785	$ 738	$ 739	$ 130,877
Increase (Decrease) in Stockholders' Equity
Net income			5,670	653		6,323
Other comprehensive income, net of tax					1,559	1,559
TOTAL COMPREHENSIVE INCOME						7,882
Cash dividends			(1,782)			(1,782)
Stock repurchases		(445)				(445)
Minority interest equity distribution				(45)		(45)
Stock option exercises, net		184				184
Warrant exercises, net		10				10
Stock-based compensation expense		14				14
Balances at end of period at Dec. 31, 2020	178	87,200	45,673	1,346	2,298	136,695
Increase (Decrease) in Stockholders' Equity
Net income			7,411	484		7,895
Other comprehensive income, net of tax					(1,983)	(1,983)
TOTAL COMPREHENSIVE INCOME						5,912
Cash dividends			(1,779)			(1,779)
Stock repurchases	(1)	(208)				(209)
Minority interest equity distribution				(651)		(651)
Stock option exercises, net	1	327				328
Stock-based compensation expense	1	1,071				1,072
Balances at end of period at Dec. 31, 2021	$ 179	$ 88,390	$ 51,305	$ 1,179	$ 315	$ 141,368

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends per share	$ 0.100	$ 0.100

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 7,411	$ 5,670
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	2,323	6,894
Depreciation	1,657	1,451
Amortization and accretion	1,006	773
Gain on sales and calls of investment securities	(27)	(601)
Net (gains) losses on sales of assets	(1)	1
Loss (gains) on equity securities	56	(42)
Gain on sale of loans held for sale, originated	(3,497)	(3,773)
Net losses (gains) on other real estate owned, including writedowns	108	(8)
Increase in bank owned life insurance cash surrender value	(413)	(267)
Deferred income tax (benefit)	295	(1,088)
Stock-based compensation expense, net of employee tax obligation	1,072	14
Net accretion of certain acquisition related fair value adjustments	(880)	(1,007)
Changes in assets and liabilities:
Loans held for sale	9,291	(2,530)
Accrued interest receivable	916	(2,091)
Other assets	526	(649)
Accrued interest payable on deposits	(122)	(170)
Other liabilities	(1,209)	(218)
Net cash provided by operating activities	18,512	2,359
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of securities available for sale	(60,547)	(71,168)
Purchases of other investments	(30)	(1,531)
Purchases of bank owned life insurance	(3,000)	(6,760)
Purchase of restricted stock	(90)	(1,534)
Proceeds from maturities and paydowns of securities available for sale	29,360	28,063
Proceeds from sales of securities available for sale	30,580	24,450
Net increase in loans	(81,233)	(41,157)
Proceeds from sale of assets	174	1
Purchases of premises and equipment	(2,393)	(3,187)
Proceeds from the sales of foreclosed assets	1,732	147
Proceeds from redemption of restricted stock	666	2,656
Net cash used in investing activities	(84,781)	(70,020)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in demand, money market, and savings deposits, net	224,490	278,019
Cash received for the exercise of stock options	328	184
Cash received for the exercise of warrants		10
Decrease in time deposits, net	(49,769)	(16,226)
Decrease in borrowings, net	(50,290)	(5,094)
Net increase (decrease) in minority interest contributed capital	(167)	608
Decrease in finance lease liability	(117)	(113)
Cash paid for stock repurchases	(209)	(445)
Dividends paid	(1,779)	(1,782)
Net cash provided by financing activities	122,487	255,161
Net increase in cash and cash equivalents	56,218	187,500
Cash and cash equivalents, beginning of period	282,611	95,111
Cash and cash equivalents, ending of period	338,829	282,611
Supplementary cash flow information:
Interest paid	8,966	12,385
Income taxes paid	3,099	3,752
Right of use assets and corresponding lease liabilities	3,016
Total (loss) gain on securities available for sale	(2,599)	2,122
SUPPLEMENTARY NONCASH INVESTING ACTIVITIES
Leases arising from right-of-use assets	$ 3,016
Loans converted to other real estate owned		$ 379

Nature of Business and Its Sign

Nature of Business and Its Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Nature of Business and Its Significant Accounting Policies
Nature of Business and Its Significant Accounting Policies	Note 1. Nature of Business and Its Significant Accounting Policies Partners Bancorp (the “Company”) is a multi-bank holding company with two wholly owned subsidiaries (the “Subsidiaries”), The Bank of Delmarva (“Delmarva”), a commercial bank operating in Wicomico and Worcester counties in Maryland, Sussex County in Delaware, and Camden and Burlington counties in New Jersey, and Virginia Partners Bank (“Partners”), a commercial bank headquartered in Fredericksburg, Virginia that operates in and around the Greater Fredericksburg, Virginia area (Stafford County, Spotsylvania County, King George County, Caroline County, and the City of Fredericksburg, Virginia), the Greater Washington area (the District of Columbia, Arlington County, Clarke County, Fairfax County, Fauquier County, Loudoun County, Prince William County, Warren County, and the Cities of Alexandria, Fairfax, Falls Church, Manassas, Manassas Park, and Reston, Virginia) and Anne Arundel County and the three counties of Southern Maryland (Charles County, Calvert County and St. Mary’s County) . The Subsidiaries provide financial services to individual and corporate customers, and are subject to competition from other financial institutions. The Subsidiaries are also subject to the regulations of certain Federal and state agencies and undergoes periodic examinations by those regulatory authorities. The accounting policies of the Company and Subsidiaries conform to generally accepted accounting principles and practices within the banking industry. ​ Significant accounting policies not disclosed elsewhere in the consolidated financial statements are as follows: Principles of Consolidation: The consolidated financial statements include the accounts of the Company; its wholly owned subsidiaries, Delmarva and Partners, along with their consolidated subsidiaries: Delmarva Real Estate Holdings, LLC, a wholly owned subsidiary of Delmarva, which is a real estate holding company; Davie Circle, LLC, a wholly owned subsidiary of Delmarva, which is a real estate holding company; Delmarva BK Holdings, LLC, a wholly owned subsidiary of Delmarva, which is a real estate holding company; DHB Development, LLC, of which Delmarva holds a 40.55% interest, and is a real estate holding company; West Nithsdale Enterprises, LLC, of which Delmarva holds a 10% interest, and is a real estate holding company; FBW, LLC, of which Delmarva holds a 50% interest, and is a real estate holding company; Bear Holdings, Inc., a wholly owned subsidiary of Partners, and is a real estate holding company; Johnson Mortgage Company, LLC (“JMC”), of which Partners owns a 51% interest, and is a residential mortgage company; and 410 William Street, LLC, a wholly owned subsidiary of Partners, and which holds investment property. All significant intercompany accounts and transactions have been eliminated. Use of Estimates: The preparation of consolidated financial statements in conformity with accounting principles generally accepted within the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Certain of the critical accounting estimates are more dependent on such judgment and in some cases may contribute to volatility in the Company’s reported financial performance should the assumptions and estimates used change over time due to changes in circumstances. Actual results could differ from those estimates. The more significant areas in which management of the Company applies critical assumptions and estimates that are most susceptible to change in the short term include the calculation of the allowance for loan losses, the valuation of impaired loans, and the unrealized gain or loss on investment securities available for sale. Securities Available for Sale: Marketable debt securities not classified as held to maturity are classified as available for sale. Securities available for sale are acquired as part of the Subsidiaries' asset/liability management strategy and may be sold in response to changes in interest rates, loan demand, changes in prepayment risk, and other factors. Securities available for sale are carried at fair value as determined by quoted market prices. Unrealized gains or losses based on the difference between amortized cost and fair value are reported in other comprehensive income, net of deferred tax. Realized gains and losses, using the specific identification method, are included as a separate component of other income and, when applicable, are reported as a reclassification adjustment, net of tax, in other comprehensive income. Premiums and discounts are recognized in interest income using the interest method over the period to maturity. Additionally, declines in the fair value of individual investment securities below their amortized cost that are other than temporary are reflected as realized losses in the consolidated statements of income. Impa irment may result from credit deterioration of the issuer or collateral underlying the security. In performing an assessment of recoverability, all relevant information is considered, including the length of time and extent to which fair value has been less than the amortized cost basis, the cause of the price decline, credit performance of the issuer and underlying collateral, and recoveries or further declines in fair value subsequent to the balance sheet date. For debt securities, the Company measures and recognizes other-than-temporary impairment (“OTTI”) losses through earnings if (1) the Company has the intent to sell the security or (2) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. In these circumstances, the impairment loss is equal to the full difference between the amortized cost basis and the fair value of the security. For securities that are considered other-than-temporarily-impaired that the Company has the intent and ability to hold in an unrealized loss position, the OTTI write-down is separated into an amount representing the credit loss, which is recognized in earnings, and the amount related to other factors, which is recognized as a component of other comprehensive income (“OCI”). Restricted Stock, Equity Securities and Other Investments: Federal Reserve Bank (“FRB”) stock, at cost, Federal Home Loan Bank (“FHLB”) stock, at cost, Atlantic Central Bankers Bank (“ACBB”) stock, at cost, and Community Bankers Bank (“CBB”) stock, at cost, are equity interests in the FRB, FHLB, ACBB, and CBB, respectively. These securities do not have a readily determinable fair value for purposes of ASC 320-10 Investments-Debts and Equity Securities Equity securities with readily determinable fair values are carried at fair value, with changes in fair value reported in net income. Any equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments. The entirety of any impairment on equity securities is recognized in earnings. Other investments includes an equity ownership of Solomon Hess SBA Loan Fund LLC which the value is adjusted for its prorata share of assets in the fund and investment in the stock of the FRB. Other investments also includes equity securities the Company holds with Community Capital Management in their Community Reinvestment Act (“CRA”) Qualified Investment Fund. Bank Owned Life Insurance: The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other changes or amounts due that are probable at settlement. Loans and the Allowance for Credit Losses: Loans are generally carried at the amount of unpaid principal, adjusted for unearned loan fees and costs, which are amortized over the term of the loan using the effective interest rate method. Interest on loans is accrued based on the principal amounts outstanding. It is the Subsidiaries' policy to discontinue the accrual of interest when a loan is specifically determined to be impaired or when principal or interest is delinquent for ninety days or more. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income. Interest income generally is not recognized on specific impaired loans unless the likelihood of further loss is remote. Cash collections on such loans are applied as reductions of the loan principal balance and no interest income is recognized on those loans until the principal balance has been collected. As a general rule, a non-accrual loan may be restored to accrual status when (1) none of its principal and interest is due and unpaid, and the Bank expects repayment of the remaining contractual principal and interest, or (2) when it otherwise becomes well secured and in the process of collection. Interest income on other nonaccrual loans is recognized only to the extent of interest payments received. The carrying value of impaired loans is based on the present value of the loan's expected future cash flows or, alternatively, the observable market price of the loan or the fair value of the collateral securing the loan. The allowance for credit losses is maintained at a level believed to be adequate by management to absorb probable losses inherent in the loan portfolio and is based on the size and current risk characteristics of the loan portfolio, the concentration of credits within each pool, the effects of any changes in lending policies, procedures, including underwriting standards and collections, charge off and recovery practices, the effects of changes in the experience, depth and ability of management, the quality of the Company’s loan review system and the degree of oversight by the Company’s Board of Directors, an assessment of individual problem loans and actual loss experience, the value of the underlying collateral, the condition of various market segments, both locally and nationally, and current economic events in specific industries and geographical areas, including unemployment levels, and other pertinent factors, including regulatory guidance and general economic conditions, along with external factors such as competition and the legal environment. Determination of the allowance is inherently subjective, as it requires significant estimates, including the amounts and timing on historical loss experience, and consideration of current economic trends, all of which may be susceptible to significant change. Loan losses are charged off against the allowance, while recoveries of amounts previously charged off are credited to the allowance. A provision for credit losses is charged to operations based on management's periodic evaluation of the factors previously mentioned, as well as other pertinent factors. Evaluations are conducted at least monthly and more often if deemed necessary. The allowance for credit losses typically consists of an allocated component and an unallocated component. The allocated component of the allowance for credit losses reflects expected losses resulting from analyses developed through specific credit allocations for individual loans and historical loss experience for each loan category. The specific credit allocations are based on regular analyses of all loans over a fixed-dollar amount where the internal credit rating is at or below a predetermined classification. The historical loan loss element is determined statistically using an informal loss migration analysis that examines loss experience and the related internal gradings of loans charged off over a current three year period. The loss migration analysis is performed quarterly and loss factors are updated regularly based on actual experience. The allocated component of the allowance for credit losses also includes consideration of concentrations and changes in portfolio mix and volume. Any unallocated portion of the allowance for credit losses reflects management's estimate of probable inherent but undetected losses within the loan portfolio due to uncertainties in economic conditions, delays in obtaining information, including unfavorable information about a borrower's financial condition, the difficulty in identifying triggering events that correlate perfectly to subsequent loss rates, and risk factors that have not yet manifested themselves in loss allocation factors. The historical losses used in the migration analysis may not be representative of actual unrealized losses inherent in the loan portfolio. It is management's intent to continually refine the methodology for the allowance for credit losses in an attempt to directly allocate potential losses in the loan portfolio under ASC Topic 310 and minimize the unallocated portion of the allowance for credit losses. Loan Charge-off Policies Loans are generally fully or partially charged down to the fair value of securing collateral when: ● management deems the asset to be uncollectible ● repayment is deemed to be made beyond the reasonable time frames ● the asset has been classified as a loss by internal or external review ● the borrower has filed bankruptcy and the loss becomes evident owing to a lack of assets Acquired Loans Loans acquired in connection with business combinations are recorded at their acquisition-date fair value with no carryover of related allowance for credit losses. Any allowance for credit losses on these pools of acquired loans reflect only losses incurred after the acquisition date (meaning the present value of all cash flows expected at the acquisition date that ultimately are not to be received). Determining the fair value of the acquired loans involves estimating the principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market rate of interest. Management considers a number of factors in evaluating the acquisition-date fair value including the remaining life of the acquired loans, delinquency status, estimated prepayments, payment options and other loan features, internal risk grade, estimated value of the underlying collateral and interest rate environment. Acquired loans that met the criteria for nonaccrual of interest prior to the acquisition date may be considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if we can reasonably estimate the timing and amount of the expected cash flows on such loans and if we expect to fully collect the new carrying value of the loans, including the impact of any accretable yield. Loans acquired with deteriorated credit quality are accounted for in accordance with ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality Under the ASC 310-30 model, the excess of cash flows expected to be collected at acquisition over recorded fair value is referred to as the accretable yield and is the interest component of expected cash flow. The accretable yield is recognized into income over the remaining life of the loan if the timing and/or amount of cash flows expected to be collected can be reasonable estimated (the accretion method). If the timing or amount of cash flows expected to be collected cannot be reasonably estimated, the cost recovery method of income recognition is used. The difference between the loan's total scheduled principal and interest payments over all cash flows expected to be collected at acquisition, considering the impact of prepayments, is referred to as the non-accretable difference. The non-accretable difference represents contractually required principal and interest payments which the Company does not expect to collect. Over the life of the loan, management continues to estimate cash flows expected to be collected. Decreases in expected cash flows are recognized as impairments through a charge to the provision for credit losses resulting in an increase in the allowance for credit losses. Subsequent improvements in expected cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable yield to be subsequently recognized as interest income on a prospective basis over the loan's remaining life. Acquired loans that were not individually determined to be purchased with deteriorated credit quality are accounted for in accordance with ASC 310-20, Nonrefundable Fees and Other Costs Troubled Debt Restructurings A loan is accounted for and reported as a troubled debt restructuring (“TDR”) when, for economic or legal reasons, we grant a concession to a borrower experiencing financial difficulty that we would not otherwise consider. Management strives to identify borrowers in financial difficulty early and works with them to modify to more affordable terms before their loan reaches nonaccrual status. These modified terms may include rate reductions, principal forgiveness, payment forbearance and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. A restructuring that results in only an insignificant delay in payment is not considered a concession. A delay may be considered insignificant if the payments subject to the delay are insignificant relative to the unpaid principal or collateral value and the contractual amount due, or the delay in timing of the restructured payment period is insignificant relative to the frequency of the payments, the debt’s original contractual maturity or original expected duration. TDRs are designated as impaired loans because interest and principal payments will not be received in accordance with the original contract terms. TDRs that are performing and on accrual status as of the date of the modification remain on accrual status. TDRs that are nonperforming as of the date of modification generally remain as nonaccrual loans until the prospect of future payments in accordance with the modified loan agreement is reasonably assured, generally demonstrated when the borrower maintains compliance with the restructured terms for a predetermined period, normally at least six months. TDRs with temporary below-market concessions remain designated as a TDR loan and impaired regardless of the accrual or performance status until the loan is paid off. However, if the TDR loan has been modified in a subsequent restructure with market terms and the borrower is not currently experiencing financial difficulty, then the loan may be no longer designated as a TDR. The COVID-19 pandemic has caused a significant disruption in economic activity worldwide, including in market areas served by the Company. Estimates for the allowance for credit losses at December 31, 2021 take into consideration the possibility of losses related to the COVID-19 pandemic. The Company expects that the COVID-19 pandemic will continue to have an effect on its results of operations. It is unknown how long these conditions will last and what the ultimate financial impact will be to the Company. Depending on the severity and duration of the economic consequences of the COVID-19 pandemic, the Company’s goodwill may become impaired. ​ The Company accommodated certain borrowers affected by the COVID-19 pandemic by granting short-term payment deferrals or periods of interest-only payments. There were no loans that remained in deferral as of December 31, 2021. At December 31, 2020, there were loans with an aggregate balance of $16.2 million in deferral. Generally, a short-term payment deferral does not result in a loan modification being classified as a TDR. Additionally, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), enacted on March 27, 2020, and as subsequently supplemented, provided that certain loan modifications that were (1) related to the COVID-19 pandemic and (2) for loans that were not more than 30 days past due as of December 31, 2019 are not required to be designated as TDRs. ​ Loans Held for Sale: These loans consist of loans made through Partners’ majority owned subsidiary JMC. JMC is engaged in the mortgage brokerage business in which JMC originates, closes, and immediately sells mortgage loans and related servicing rights to permanent investors in the secondary market. JMC has written commitments from several permanent investors (large financial institutions) and only closes loans that meet the lending requirements of the permanent investors. Loans are made in connection with the purchase or refinancing of existing and new one-to-four family residences primarily in southeastern and northern Virginia. Loans are initially funded primarily by JMC’s lines of credit. With the concurrent sale and delivery of mortgage loans to the permanent investors, JMC records receivables for mortgage loans sold and recognizes the related gains and losses on such sales. The receivables for mortgage loans sold are usually satisfied within 30 days of sale, whereupon the related borrowings on the lines of credit are repaid. Because of the short holding period, these loans are carried at the lower of cost or market and no market adjustments were deemed necessary in 2021 or 2020. JMC’s agreements with its permanent investors include provisions that could require JMC to repurchase loans under certain circumstances, and also provide for the assessment of fees if loans go into default or are refinanced within specified periods of time. JMC has never been required to repurchase a loan and no indemnification reserve has been recorded as of December 31, 2021 or 2020. Management does not believe that a provision for early default or refinancing cost is necessary at December 31, 2021 or 2020. JMC enters into commitments with its customers to originate loans where the interest rate on the loans is determined (locked) prior to funding. While this subjects JMC to the risk interest rates may change from the commitment date to the funding date, JMC simultaneously enters into financial agreements (best efforts forward sales commitments) with its permanent investors giving JMC the right to deliver (put) loans to the permanent investors at specified yields, thus enabling JMC to manage its exposure to changes in interest rates such that JMC is not subject to fluctuations in fair values of these agreements due to changes in interest rates. However, a default by a permanent investor required to purchase loans under such an agreement would expose JMC to potential fluctuation in selling prices of loans due to changes in interest rate. The fair value of rate lock commitments and forward sales commitments was considered immaterial at December 31, 2021 and 2020 and have not been recorded. Gains and losses on the sale of mortgages as well as origination fees, brokerage fees, interest rate lock-in fees and other fees paid by mortgagors are included in the “Mortgage banking income, net” line item on the Company’s Consolidated Statements of Income for the years ended December 31, 2021 and 2020. Other Real Estate Owned (OREO): OREO comprises properties acquired in partial or total satisfaction of problem loans. The properties are recorded at the lower of cost or fair value, net of estimated selling costs, at the date acquired creating a new cost basis. Losses arising at the time of acquisition of such properties are charged against the allowance for credit losses. Subsequent write-downs that may be required, and expenses of operation and gains and losses realized from the sale of OREO are included in other expenses. At December 31, 2021 there were two properties with a combined value of $837 thousand included in OREO, and at December 31, 2020 there were five properties with a combined value of $2.7 million. At December 31, 2021 and 2020 there were no residential real estate properties included in OREO balances. Premises and Equipment and Depreciation: Premises and equipment are stated at cost less accumulated depreciation. Land is carried at cost. The provision for depreciation is computed using primarily the straight-line method over the estimated useful lives of the assets, ranging from two three Intangible Assets and Amortization: During the fourth quarter of 2019 the Company acquired Partners and during the first quarter of 2018, the Company acquired Liberty. ASC 350, Intangibles-Goodwill and Other Goodwill: The Company’s goodwill was recognized in connection with the acquisitions of Partners and Liberty. The Company reviews the carrying value of goodwill at least annually during the fourth quarter or more frequently if certain impairment indicators exist. In testing goodwill for impairment, the Company may first consider qualitative factors to determine whether the existence of events or circumstances lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events and circumstances, we conclude that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then no further testing is required and the goodwill of the reporting unit is not impaired. If the Company elects to bypass the qualitative assessment or if we conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then the fair value of the reporting unit is compared with its carrying amount to determine whether an impairment exists. No impairment of goodwill was required for the years ended December 31, 2021 and 2020 based management’s assessment. Long-Lived Assets: The carrying value of long-lived assets and certain identifiable intangibles is reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable as prescribed by ASC 360-10 Property, Plant, and Equipment Income Taxes: The Company and its subsidiaries file a consolidated Federal tax return. The provision for Federal and state income taxes is based upon the consolidated results of operations, adjusted for tax-exempt income. Deferred income taxes are provided under ASC 740-10 Income Taxes Temporary differences, which give rise to deferred tax assets relate principally to the allowance for credit losses, lease liabilities, fair value adjustments related to business combinations, accumulated amortization of intangibles, impairment loss on securities, net operating loss carryforward, net losses on OREO, and unrealized depreciation on securities available for sale. Temporary differences which give rise to deferred tax liabilities relate to accumulated depreciation, deferred gains, right of use assets, accumulated amortization on core deposit intangibles and accumulated accretion of discounts on debt securities. The benefit of an uncertain tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination by the applicable taxing authority, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. Interest and penalties associated with unrecognized tax benefits are recognized as a component of income tax expense. Credit Risk: The Company has deposits in other financial institutions in excess of amounts insured by the FDIC. The Subsidiaries have not experienced any losses in such accounts and management does not believe it is exposed to any significant credit risks with respect to such deposits. Cash and Cash Equivalents: The Company has included cash and due from banks, interest bearing deposits in other financial institutions, and Federal funds sold as cash and cash equivalents for purposes of reporting cash flows. Cash and cash equivalents were $338.8 million and $282.6 million at December 31, 2021 and 2020, respectively. Accounting for Stock Based Compensation: The Company follows ASC 718-10, Compensation—Stock Compensation Earnings Per Share Basic earnings per common share are determined by dividing net income adjusted for preferred stock dividends declared and/or accumulated and accretion of warrants by the weighted average number of shares outstanding for each year, giving retroactive effect to stock splits and dividends. Weighted average shares outstanding were Transfers of Financial Assets Transfers of loans are accounted for as sales when control over the loans has been surrendered. Control over transferred loans is deemed to be surrendered when (1) the loans have been isolated from the Company (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred loans and (3) the Company does not maintain effective control over the transferred loans through an agreement to repurchase them before their maturity. Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments – Credit Losses” (“Topic 326”): Measurement of Credit Losses on Financial Instruments.” The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The FASB has issued multiple updates to ASU 2016-13 as codified in Topic 326, including ASU’s 2019-04, 2019-05, 2019-10, 2019-11, 2020-02, and 2020-03. These ASU’s have provided for various minor technical corrections and improvements to the codification as well as other transition matters. Smaller reporting companies who file with the U.S. Securities and Exchange Commission (“SEC”) and all other entities who do not file with the SEC are required to apply the guidance for fiscal years, and interim periods within those years, beginning after December 15, 2022. The Company is currently evaluating the potential impact of ASU 2016-13 on our consolidated financial statements. We are currently working through our implementation plan which includes assessment and documentation of processes, internal controls and data sources; model development and documentation; and systems configuration, among other things. We are also in the process of working with our third-party vendor to assist us in the application of the ASU 2016-13. The adoption of ASU 2016-13 could result in an increase in the allowance for credit losses as a result of changing from an “incurred loss” model, which encompasses allowances for current known and inherent losses within the portfolio, to an “expected loss” model, which encompasses allowances for losses expected to be incurred over the life of the portfolio. Furthermore, ASU 2016-13 will necessitate that we establish an allowance for expected credit losses for certain debt securities and other financial assets. While we are currently unable to reasonably estimate the impact of adopting ASU 2016-13, we expect that the impact of adoption will be significantly influenced by the composition, characteristics and quality of our loan and securities portfolios as well as the prevailing economic conditions and forecasts as of the adoption date. Effective November 25, 2019, the SEC adopted Staff Accounting Bulletin (SAB) 119. SAB 119 updated portions of SEC interpretative guidance to align with ASC 326. It covers topics including (1) measuring current expected credit losses; (2) development, governance,

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2021
Investment Securities
Investment Securities	Note 2. Investment Securities Investment securities available for sale are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Dollars in Thousands ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value Obligations of U.S. Government agencies and corporations ​ $ 6,547 ​ $ 46 ​ $ 142 ​ $ 6,451 Obligations of States and political subdivisions ​ 29,792 ​ 1,397 ​ 63 ​ 31,126 Mortgage-backed securities ​ 83,213 ​ 279 ​ 1,089 ​ 82,403 Subordinated debt investments ​ ​ 1,990 ​ ​ 51 ​ ​ — ​ ​ 2,041 ​ ​ $ 121,542 ​ $ 1,773 ​ $ 1,294 ​ $ 122,021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Dollars in Thousands ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value Obligations of U.S. Government agencies and corporations ​ $ 6,758 ​ $ 137 ​ $ 12 ​ $ 6,883 Obligations of States and political subdivisions ​ 36,245 ​ 1,878 ​ — ​ 38,123 Mortgage-backed securities ​ 74,857 ​ 1,127 ​ 108 ​ 75,876 Subordinated debt investments ​ ​ 3,985 ​ ​ 62 ​ ​ 4 ​ ​ 4,043 ​ ​ $ 121,845 ​ $ 3,204 ​ $ 124 ​ $ 124,925 ​ Gross unrealized losses and fair values, aggregated by investment security category and length of time that individual investment securities have been in a continuous unrealized loss position, at December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Dollars in Thousands ​ ​ Less than 12 months ​ 12 months or more ​ Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Loss Value Loss Value Loss Obligations of U.S. Government agencies and corporations ​ $ 1,289 ​ $ 35 ​ $ 2,397 ​ $ 107 ​ $ 3,686 ​ $ 142 Obligations of States and political subdivisions ​ 2,473 ​ 63 ​ — ​ — ​ 2,473 ​ 63 Mortgage-backed securities ​ 59,236 ​ 744 ​ 11,349 ​ 345 ​ 70,585 ​ 1,089 Total investment securities with unrealized losses ​ $ 62,998 ​ $ 842 ​ $ 13,746 ​ $ 452 ​ $ 76,744 ​ $ 1,294 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Dollars in Thousands ​ ​ Less than 12 months ​ 12 months or more ​ Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Loss Value Loss Value Loss Obligations of U.S. Government agencies and corporations ​ $ 2,494 ​ $ 12 ​ $ — ​ $ — ​ $ 2,494 ​ $ 12 Mortgage-backed securities ​ 18,525 ​ 108 ​ — ​ — ​ 18,525 ​ 108 Subordinated debt investments ​ 996 ​ 4 ​ — ​ — ​ 996 ​ 4 Total investment securities with unrealized losses ​ $ 22,015 ​ $ 124 ​ $ — ​ $ — ​ $ 22,015 ​ $ 124 For individual investment securities classified as either available for sale or held to maturity, the Company must determine whether a decline in fair value below the amortized cost basis is other than temporary. In estimating OTTI losses, management considers, among other things, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, and (iii) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. If the decline in fair value is considered to be other than temporary, the amortized cost basis of the individual investment security shall be written down to the fair value as a new cost basis and the amount of the write-down shall be included in earnings (that is, accounted for as a realized loss). At December 31, 2021 there were two agency investment securities and five mortgage-backed investment securities (“MBS”) that have been in a continuous unrealized loss position for more than twelve months. Management found no evidence of OTTI on any of these investment securities and believes that the unrealized losses are due to fluctuations in fair values resulting from changes in market interest rates and are considered temporary. As of December 31, 2021, management also believes it has the ability and intent to hold the investment securities for a period of time sufficient for a recovery of their amortized cost basis. During the year ended December 31, 2021 the Company sold 14 investment securities, resulting in a gain of $17 thousand. During the year ended December 31, 2020, the Company sold Contractual maturities of investment securities at December 31, 2021 are shown below. Actual maturities may differ from contractual maturities because debtors may have the right to call or prepay obligations with or without call or prepayment penalties. Mortgage-backed investment securities have no stated maturity and primarily reflect investments in various Pass-through and Participation Certificates issued by the Federal National Mortgage Association and the Government National Mortgage Association. Repayment of mortgage-backed investment securities is affected by the contractual repayment terms of the underlying mortgages collateralizing these obligations and the current level of interest rates. The following is a summary of maturities, calls, or repricing of investment securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ Securities Available for Sale ​ ​ Dollars in Thousands ​ ​ ​ Amortized ​ ​ Fair ​ ​ Cost ​ Value Due in one year or less ​ $ — ​ $ — Due after one year through five years ​ 2,716 ​ 2,875 Due after five years through ten years ​ 16,953 ​ 17,422 Due after ten years or more ​ 18,660 ​ 19,321 Mortgage-backed securities, due in monthly installments ​ 83,213 ​ 82,403 ​ ​ $ 121,542 ​ $ 122,021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Securities Available for Sale ​ ​ Dollars in Thousands ​ ​ Amortized ​ Fair ​ Cost Value Due in one year or less ​ $ 2,035 $ 2,037 Due after one year through five years ​ 4,156 ​ 4,389 Due after five years through ten years ​ 19,995 ​ 20,748 Due after ten years or more ​ 20,802 ​ 21,875 Mortgage‑backed securities, due in monthly installments ​ 74,857 ​ 75,876 ​ ​ $ 121,845 ​ $ 124,925 ​ ​ The Company has pledged certain investment securities as collateral for qualified customers' deposit accounts at December 31, 2021 and 2020 as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Amortized cost ​ $ 11,110 ​ $ 8,938 Fair value ​ $ 11,199 ​ $ 9,304 ​

Loans, Allowance for Credit Los

Loans, Allowance for Credit Losses and Impaired Loans	12 Months Ended
	Dec. 31, 2021
Loans, Allowance for Credit Losses and Impaired Loans
Loans, Allowance for Credit Losses and Impaired Loans	Note 3. Loans, Allowance for Credit Losses and Impaired Loans Major categories of loans as of December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2021 December 31, 2020 Originated Loans ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ Construction and land development ​ $ 107,478 ​ $ 71,361 Residential real estate ​ ​ 159,701 ​ ​ 128,285 Nonresidential ​ ​ 513,873 ​ ​ 394,539 Home equity loans ​ ​ 19,246 ​ ​ 18,526 Commercial ​ ​ 109,470 ​ ​ 115,387 Consumer and other loans ​ 3,546 ​ 2,924 ​ ​ 913,314 ​ 731,022 Acquired Loans ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ Construction and land development ​ $ 505 ​ $ 3,345 Residential real estate ​ 41,529 ​ 71,064 Nonresidential ​ ​ 128,344 ​ ​ 175,206 Home equity loans ​ ​ 11,149 ​ ​ 15,700 Commercial ​ ​ 21,438 ​ ​ 37,411 Consumer and other loans ​ 916 ​ 1,757 ​ ​ ​ 203,881 ​ ​ 304,483 Total Loans ​ ​ Real Estate Mortgage ​ ​ ​ ​ Construction and land development ​ $ 107,983 ​ $ 74,706 Residential real estate ​ ​ 201,230 ​ ​ 199,349 Nonresidential ​ ​ 642,217 ​ ​ 569,745 Home equity loans ​ ​ 30,395 ​ ​ 34,226 Commercial ​ ​ 130,908 ​ ​ 152,798 Consumer and other loans ​ 4,462 ​ 4,681 ​ ​ 1,117,195 ​ 1,035,505 Less: Allowance for credit losses ​ (14,656) ​ (13,203) ​ ​ $ 1,102,539 ​ $ 1,022,302 ​ Allowance for Credit Losses Management has an established methodology to determine the adequacy of the allowance for credit losses that assesses the risks and losses inherent in the loan portfolio. For purposes of determining the allowance for credit losses, the Company has segmented the loan portfolio into the following classifications: ● Real Estate Mortgage (which includes Construction and Land Development, Residential Real Estate, Nonresidential Real Estate and Home Equity Loans) ● Commercial ● Consumer and Other Loans Each of these segments are reviewed and analyzed quarterly using historical charge-off experience for their respective segments as well as the following qualitative factors: ● Changes in the levels and trends in delinquencies, non-accruals, classified assets and TDRs ● Changes in the value of underlying collateral ● Changes in the nature and volume of the portfolio ● Effects of any changes in lending policies, procedures, including underwriting standards and collections, charge off and recovery practices ● Changes in the experience, depth and ability of management ● Changes in the national and local economic conditions and developments, including the condition of various market segments ● Changes in the concentration of credits within each pool ● Changes in the quality of the Company's loan review system and the degree of oversight by the Company’s Board of Directors ● Changes in external factors such as competition and the legal environment The above factors result in a FASB ASC 450-10-20, calculated reserve for environmental factors. All credit exposures graded at a rating of “non-pass” with outstanding balances less than or equal to $250 thousand and credit exposures graded at a rating of “pass” are reviewed and analyzed quarterly using historical charge-off experience for their respective segments as well as the qualitative factors discussed above. The historical charge-off experience is further adjusted based on delinquency risk trend assessments and concentration risk assessments. All credit exposures graded at a rating of “non-pass” with outstanding balances greater than $250 thousand, as well as any loans considered TDRs, are to be reviewed no less than quarterly for the purpose of determining if a specific allocation is needed for that credit. The determination for a specific reserve is measured based on the present value of expected future cash flows, discounted at the loan's effective interest rate, except when the sole (remaining) source of repayment for the loan is the operation or liquidation of the collateral. In these cases management uses the current fair value of the collateral, less selling cost when foreclosure is probable, instead of discounted cash flows. If management determines that the value of the loan is less than the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount), impairment is recognized through an allowance for credit losses estimate or a charge-off to the allowance for credit losses. The establishment of a specific reserve does not necessarily mean that the credit with the specific reserve will definitely incur loss at the reserve level. It is only an estimation of potential loss based upon known events that are subject to change. A specific reserve will not be established unless loss elements can be determined and quantified based on known facts. The total allowance for credit losses reflects management's estimate of loan losses inherent in the loan portfolio as of December 31, 2021 and 2020. The following tables include impairment information relating to loans and the allowance for credit losses as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ Dollars in Thousands Development Real Estate Nonresidential Home Equity Commercial and Other Unallocated Total Balance at December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchased credit impaired loans ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance in allowance ​ $ — ​ $ 9 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 9 Related loan balance ​ 46 ​ 1,633 ​ 376 ​ — ​ 126 ​ — ​ — ​ 2,181 Individually evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance in allowance ​ $ — ​ $ 3 ​ $ 1,000 ​ $ — ​ $ 452 ​ $ — ​ $ — ​ $ 1,455 Related loan balance ​ 598 ​ 2,082 ​ ​ 9,901 ​ 53 ​ 584 ​ — ​ — ​ 13,218 Collectively evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ ​ Balance in allowance ​ $ 1,143 ​ $ 1,881 ​ $ 8,239 ​ $ 212 ​ $ 1,433 ​ $ 36 ​ $ 248 ​ $ 13,192 Related loan balance ​ 107,339 ​ 197,515 ​ 631,940 ​ 30,342 ​ 130,198 ​ 4,462 ​ — ​ 1,101,796 ​ Note: The balances above include unamortized discounts on acquired loans of $2.3 million. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ Dollars in Thousands Development Real Estate Nonresidential Home Equity Commercial and Other Unallocated Total Balance at December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchased credit impaired loans ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance in allowance ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 41 ​ $ — ​ $ — ​ $ 41 Related loan balance ​ 44 ​ 1,839 ​ 2,237 ​ — ​ 361 ​ — ​ — ​ 4,481 Individually evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance in allowance ​ $ — ​ $ 156 ​ $ 17 ​ $ — ​ $ 500 ​ $ — ​ $ — ​ $ 673 Related loan balance ​ 175 ​ 2,947 ​ 6,990 ​ — ​ 489 ​ — ​ — ​ 10,601 Collectively evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ ​ Balance in allowance ​ $ 903 ​ $ 2,195 ​ $ 7,567 ​ $ 271 ​ $ 1,402 ​ $ 37 ​ $ 114 ​ $ 12,489 Related loan balance ​ 74,487 ​ 194,563 ​ 560,518 ​ 34,226 ​ 151,948 ​ 4,681 ​ — ​ 1,020,423 ​ ​ The following tables provide a summary of the activity in the allowance for credit losses allocated by loan class as December 31, 2021 and 2020. Allocation of a portion of the allowance for credit losses to one loan class does not preclude its availability to absorb losses in other loan classes. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ Dollars in Thousands Development Real Estate Nonresidential Home Equity Commercial and Other Unallocated Total Year Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 903 ​ $ 2,351 ​ $ 7,584 ​ $ 271 ​ $ 1,943 ​ $ 37 ​ $ 114 ​ $ 13,203 Charge-offs ​ — ​ ​ (39) ​ ​ (692) ​ ​ (7) ​ (184) ​ (66) ​ — ​ (988) Recoveries ​ 1 ​ ​ 23 ​ ​ 53 ​ ​ 3 ​ 16 ​ 22 ​ — ​ 118 Provision/(recovery) ​ 239 ​ ​ (442) ​ ​ 2,294 ​ ​ (55) ​ 110 ​ 43 ​ 134 ​ 2,323 Ending Balance ​ $ 1,143 ​ $ 1,893 ​ $ 9,239 ​ $ 212 ​ $ 1,885 ​ $ 36 ​ $ 248 ​ $ 14,656 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ Dollars in Thousands Development Real Estate Nonresidential Home Equity Commercial and Other Unallocated Total Year Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 602 ​ $ 1,380 ​ $ 4,074 ​ $ 142 ​ $ 826 ​ $ 14 ​ $ 266 ​ $ 7,304 Charge-offs ​ — ​ ​ (112) ​ ​ (575) ​ ​ (13) ​ (918) ​ (120) ​ — ​ (1,738) Recoveries ​ 1 ​ ​ 70 ​ ​ 512 ​ ​ 10 ​ 109 ​ 41 ​ — ​ 743 Provision ​ 300 ​ ​ 1,013 ​ ​ 3,573 ​ ​ 132 ​ 1,926 ​ 102 ​ (152) ​ 6,894 Ending Balance ​ $ 903 ​ $ 2,351 ​ $ 7,584 ​ $ 271 ​ $ 1,943 ​ $ 37 ​ $ 114 ​ $ 13,203 ​ On March 27, 2020, the CARES Act was signed into law, which established the PPP and allocated $349.0 billion of loans to be issued by financial institutions. Under the program, the Small Business Administration (“SBA”) will forgive loans, in whole or in part, made by approved lenders to eligible borrowers for paycheck and other permitted purposes in accordance with the requirements of the program. These loans carry a fixed rate of 1.00% and a term of two years, if not forgiven, in whole or in part. The loans are 100% guaranteed by the SBA and payments are deferred for the first six months of the loan. The Company receives a processing fee ranging from 1% to 5% based on the size of the loan from the SBA. The Paycheck Protection Program and Health Care Enhancement Act (“PPP/ HCEA Act”) was signed into law on April 24, 2020. The PPP/HCEA Act authorized additional funding under the CARES Act of $310.0 billion for PPP loans to be issued by financial institutions through the SBA. The Company has provided $95.1 million in funding to over 1,130 customers through the PPP, of which approximately $8.2 million and $42.3 million were still outstanding as of December 31, 2021 and 2020, respectively. Because these loans are 100% guaranteed by the SBA and did not undergo the Company’s typical underwriting process, they are not graded and do not have an associated allocation for credit losses at this time. Credit Quality Information The following table represents credit exposures by creditworthiness category for the years ending December 31, 2021 and 2020. The use of creditworthiness categories to grade loans permits management to estimate a portion of credit risk. The Company’s internal creditworthiness is based on experience with similarly graded credits. The Company uses the definitions below for categorizing and managing its criticized loans. Loans categorized as “Pass” do not meet the criteria set forth below and are not considered criticized. Marginal — Loans in this category are presently protected from loss, but weaknesses are apparent which, if not corrected, could cause future problems. Loans in this category may not meet required underwriting criteria and have no mitigating factors. More than the ordinary amount of attention is warranted for these loans. Substandard — Loans in this category exhibit well-defined weaknesses that would typically bring normal repayment into jeopardy. These loans are no longer adequately protected due to well-defined weaknesses that affect the repayment capacity of the borrower. The possibility of loss is much more evident and above average supervision is required for these loans. Doubtful — Loans in this category have all the weaknesses inherent in a loan categorized as Substandard, with the characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loss — Loans in this category are of little value and are not warranted as a bankable asset. Non-accruals In general, a loan will be placed on non-accrual status at the end of the reporting month in which the interest or principal is past due more than 90 days. Exceptions to the policy are those loans that are in the process of collection and are well-secured. A well-secured loan is secured by collateral with sufficient market value to repay principal and all accrued interest. A summary of loans by risk rating is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Secured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer & ​ ​ ​ December 31, 2021 Development ​ Real Estate Nonresidential Home Equity Commercial Other Total ​ ​ Dollars in Thousands Pass ​ $ 107,339 ​ $ 199,037 ​ $ 622,648 ​ $ 30,159 ​ $ 128,949 ​ $ 3,960 ​ $ 1,092,092 Marginal ​ 46 ​ 507 ​ 12,819 ​ 183 ​ 1,364 ​ 502 ​ 15,421 Substandard ​ 598 ​ 1,686 ​ 6,750 ​ 53 ​ 595 ​ — ​ 9,682 TOTAL ​ $ 107,983 ​ $ 201,230 ​ $ 642,217 ​ $ 30,395 ​ $ 130,908 ​ $ 4,462 ​ $ 1,117,195 Non-Accrual ​ $ 598 ​ $ 1,293 ​ $ 6,486 ​ $ — ​ $ 584 ​ $ — ​ $ 8,961 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Secured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer & ​ ​ ​ December 31, 2020 Development ​ Real Estate Nonresidential Home Equity Commercial Other Total ​ ​ Dollars in Thousands Pass ​ $ 74,487 ​ $ 195,599 ​ $ 552,758 ​ $ 33,479 ​ $ 151,779 ​ $ 4,681 ​ $ 1,012,783 Marginal ​ 44 ​ 575 ​ 12,542 ​ 693 ​ 420 ​ — ​ 14,274 Substandard ​ 175 ​ 3,175 ​ 4,445 ​ 54 ​ 599 ​ — ​ 8,448 TOTAL ​ $ 74,706 ​ $ 199,349 ​ $ 569,745 ​ $ 34,226 ​ $ 152,798 ​ $ 4,681 ​ $ 1,035,505 Non-Accrual ​ $ 175 ​ $ 2,022 ​ $ 2,170 ​ $ 54 ​ $ 489 ​ $ — ​ $ 4,910 ​ A summary of loans that were modified under the terms of a TDR during the years ended December 31, 2021 and 2020 is shown below by class. The post-modification recorded balance reflects the period end balances, inclusive of any interest capitalized to principal, partial principal pay-downs, and principal charge-offs since the modification date. Loans modified as TDRs that were fully paid down, charged off, or foreclosed upon by period end are not reported. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Secured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer & ​ ​ ​ ​ Development ​ Real Estate Nonresidential Home Equity Commercial Other Total ​ ​ Dollars in Thousands Year ended December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of loans modified during the period ​ ​ — ​ ​ — ​ ​ 2 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2 Pre-modification recorded balance ​ $ — ​ $ — ​ $ 3,185 ​ $ — ​ $ — ​ $ — ​ $ 3,185 Post- modification recorded balance ​ — ​ — ​ 2,905 ​ — ​ — ​ — ​ 2,905 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of loans modified during the period ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1 ​ ​ — ​ ​ 1 Pre-modification recorded balance ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,196 ​ $ — ​ $ 1,196 Post- modification recorded balance ​ — ​ — ​ — ​ — ​ 489 ​ — ​ 489 ​ During the year ended December 31, 2021, there were no loans modified as a TDR that subsequently defaulted which had been modified as a TDR during the twelve months prior to default. There was one loan modified as a TDR that subsequently defaulted during the year ended December 31, 2020 which had been modified as TDRs during the twelve months prior to default. This loan had a balance of $1.2 million prior to charge-off of $707 thousand. ​ There were two loans secured by 1-4 family residential properties with an aggregate balance of $345 thousand that were in the process of foreclosure at December 31, 2021. There were two loans secured by 1-4 family residential properties with aggregate balances of $353 thousand that were in the process of foreclosure at December 31, 2020. ​ The following table includes an aging analysis of the recorded investment of past due financing receivables as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment ​ ​ ​ ​ ​ ​ ​ ​ Greater than ​ ​ ​ ​ ​ ​ ​ Total ​ >90 Days ​ ​ 30 - 59 Days ​ 60 - 89 Days ​ 90 Days ​ Total ​ Current ​ Financing ​ Past Due At December 31, 2021 Past Due* Past Due Past Due** Past Due Balance*** Receivables and Accruing ​ ​ Dollars in Thousands Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ $ — ​ $ — ​ $ 598 ​ $ 598 ​ $ 107,385 ​ $ 107,983 ​ $ — Residential real estate ​ ​ 658 ​ ​ 245 ​ ​ 361 ​ ​ 1,264 ​ ​ 199,966 ​ ​ 201,230 ​ ​ — Nonresidential ​ ​ — ​ ​ — ​ ​ 2,915 ​ ​ 2,915 ​ ​ 639,302 ​ ​ 642,217 ​ ​ — Home equity loans ​ ​ 160 ​ ​ — ​ ​ — ​ ​ 160 ​ ​ 30,235 ​ ​ 30,395 ​ ​ — Commercial ​ ​ 46 ​ ​ — ​ ​ 77 ​ ​ 123 ​ ​ 130,785 ​ ​ 130,908 ​ ​ — Consumer and other loans ​ 15 ​ — ​ — ​ 15 ​ 4,447 ​ 4,462 ​ — TOTAL ​ $ 879 ​ $ 245 ​ $ 3,951 ​ $ 5,075 ​ $ 1,112,120 ​ $ 1,117,195 ​ $ — * Includes $55 thousand of non-accrual loans. ** Includes *** Includes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment ​ ​ ​ ​ ​ ​ ​ ​ Greater than ​ ​ ​ ​ ​ ​ ​ Total ​ >90 Days ​ ​ 30 - 59 Days ​ 60 - 89 Days ​ 90 Days ​ Total ​ Current ​ Financing ​ Past Due At December 31, 2020 Past Due* Past Due** Past Due*** Past Due Balance**** Receivables and Accruing ​ ​ Dollars in Thousands Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ $ 642 ​ $ 66 ​ $ 175 ​ $ 883 ​ $ 73,823 ​ $ 74,706 ​ $ — Residential real estate ​ ​ 2,520 ​ ​ 244 ​ ​ 679 ​ ​ 3,443 ​ ​ 195,906 ​ ​ 199,349 ​ ​ — Nonresidential ​ ​ 2,552 ​ ​ 1,240 ​ ​ 2,377 ​ ​ 6,169 ​ ​ 563,576 ​ ​ 569,745 ​ ​ — Home equity loans ​ ​ 80 ​ ​ — ​ ​ 54 ​ ​ 134 ​ ​ 34,092 ​ ​ 34,226 ​ ​ — Commercial ​ ​ 86 ​ ​ 169 ​ ​ 489 ​ ​ 744 ​ ​ 152,054 ​ ​ 152,798 ​ ​ — Consumer and other loans ​ 7 ​ — ​ 2 ​ 9 ​ 4,672 ​ 4,681 ​ 2 TOTAL ​ $ 5,887 ​ $ 1,719 ​ $ 3,776 ​ $ 11,382 ​ $ 1,024,123 ​ $ 1,035,505 ​ $ 2 * Includes $683 thousand of non-accrual loans. ** Includes *** Includes $3.5 million of non-accrual loans. **** Includes $458 thousand of non-accrual loans. Impaired Loans Impaired loans are defined as non-accrual loans, TDRs, and loans risk rated substandard or above. When management identifies a loan as impaired, the impairment is measured for potential loss based on the present value of expected future cash flows, discounted at the loan's effective interest rate, except when the sole (remaining) source of repayment for the loan is the operation or liquidation of the collateral. In these cases management uses the current fair value of the collateral, less selling cost when foreclosure is probable, instead of discounted cash flows. If management determines that the value of the impaired loan is less than the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount), impairment is recognized through an allowance for credit losses estimate or a charge-off to the allowance for credit losses. When the ultimate collectability of the total principal of an impaired loan is in doubt and the loan is on non-accrual status, all payments are applied to principal, under the cost recovery method. When the ultimate collectability of the total principal of an impaired loan is not in doubt and the loan is on non-accrual status, contractual interest is credited to interest income when received, under the cash basis method. The following tables include the recorded investment and unpaid principal balance for impaired financing receivables, excluding PCI loans, with the associated allowance for credit losses amount, if applicable. Also presented are the average recorded investments in the impaired loans and the related amount of interest income recognized during the time within the period that the impaired loans were impaired. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid ​ Interest ​ ​ ​ ​ Average ​ ​ Recorded ​ Principal ​ Income ​ Specific ​ Recorded December 31, 2021 Investment Balance Recognized Reserve Investment ​ ​ Dollars in Thousands Impaired loans with specific reserves: ​ ​ ​ ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Residential real estate ​ ​ 426 ​ ​ 426 ​ ​ 22 ​ ​ 3 ​ ​ 433 Nonresidential ​ ​ 6,437 ​ ​ 6,559 ​ ​ 369 ​ ​ 1,000 ​ ​ 6,528 Home equity loans ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ 507 ​ ​ 517 ​ ​ 119 ​ ​ 452 ​ ​ 583 Consumer and other loans ​ — ​ — ​ — ​ — ​ — Total impaired loans with specific reserves ​ $ 7,370 ​ $ 7,502 ​ $ 510 ​ $ 1,455 ​ $ 7,544 Impaired loans with no specific reserve: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ $ 598 ​ $ 598 ​ $ 13 ​ $ — ​ $ 599 Residential real estate ​ ​ 1,656 ​ ​ 1,687 ​ ​ 26 ​ ​ — ​ ​ 1,698 Nonresidential ​ ​ 3,464 ​ ​ 3,462 ​ ​ 344 ​ ​ — ​ ​ 3,510 Home equity loans ​ ​ 53 ​ ​ 53 ​ ​ 1 ​ ​ — ​ ​ 53 Commercial ​ ​ 77 ​ ​ 154 ​ ​ 2 ​ ​ — ​ ​ 109 Consumer and other loans ​ — ​ — ​ — ​ — ​ — Total impaired loans with no specific reserve ​ $ 5,848 ​ $ 5,954 ​ $ 386 ​ $ — ​ $ 5,969 TOTAL ​ $ 13,218 ​ $ 13,456 ​ $ 896 ​ $ 1,455 ​ $ 13,513 ​ Total impaired loans of $13.2 million at December 31, 2021 do not include PCI loan balances of $2.2 million, which are net of a discount of $432 thousand. At December 31, 2021, there was $9 thousand in specific reserves related to PCI loans included in the allowance for credit losses. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid ​ Interest ​ ​ ​ ​ Average ​ ​ Recorded ​ Principal ​ Income ​ Specific ​ Recorded December 31, 2020 Investment Balance Recognized Reserve Investment ​ ​ Dollars in Thousands Impaired loans with specific reserves: ​ ​ ​ ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Residential real estate ​ ​ 614 ​ ​ 614 ​ ​ — ​ ​ 156 ​ ​ 671 Nonresidential ​ ​ 2,151 ​ ​ 2,151 ​ ​ 259 ​ ​ 17 ​ ​ 2,304 Home equity loans ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ 489 ​ ​ 1,196 ​ ​ 11 ​ ​ 500 ​ ​ 881 Consumer and other loans ​ — ​ — ​ — ​ — ​ — Total impaired loans with specific reserves ​ $ 3,254 ​ $ 3,961 ​ $ 270 ​ $ 673 ​ $ 3,856 Impaired loans with no specific reserve: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ $ 175 ​ $ 175 ​ $ — ​ $ — ​ $ 176 Residential real estate ​ ​ 2,333 ​ ​ 2,425 ​ ​ 107 ​ ​ — ​ ​ 2,365 Nonresidential ​ ​ 4,839 ​ ​ 5,260 ​ ​ 174 ​ ​ — ​ ​ 5,944 Home equity loans ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer and other loans ​ — ​ — ​ — ​ — ​ — Total impaired loans with no specific reserve ​ $ 7,347 ​ $ 7,860 ​ $ 281 ​ $ — ​ $ 8,485 TOTAL ​ $ 10,601 ​ $ 11,821 ​ $ 551 ​ $ 673 ​ $ 12,341 ​ Total impaired loans of $10.6 million at December 31, 2020 do not include PCI loan balances of $4.5 million, which are net of a discount of $644 thousand. At December 31, 2020, there was ​ All acquired loans were initially recorded at fair value at the acquisition date. The outstanding balance and the carrying amount of acquired loans included in the consolidated balance sheet are as follows: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in Thousands December 31, 2021 December 31, 2020 Accountable for under ASC 310-30 (PCI loans) ​ ​ Outstanding balance ​ $ 2,613 ​ $ 5,125 Carrying amount ​ 2,181 ​ 4,481 Accountable for under ASC 310-20 (non-PCI loans) ​ ​ ​ ​ Outstanding balance ​ $ 203,596 ​ $ 303,363 Carrying amount ​ 201,700 ​ 300,002 Total acquired loans ​ ​ ​ ​ Outstanding balance ​ $ 206,209 ​ $ 308,488 Carrying amount ​ 203,881 ​ 304,483 ​ The following table provides changes in accretable yield for all acquired loans accounted for under ASC 310-20: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in Thousands December 31, 2021 December 31, 2020 Balance at beginning of period ​ $ 3,361 ​ $ 5,081 Acquisitions ​ — ​ (1) Accretion ​ (1,464) ​ (1,718) Other changes, net ​ ​ (1) ​ ​ (1) Balance at end of period ​ $ 1,896 ​ $ 3,361 ​ During the years ended December 31, 2021 and 2020, the Company recorded $36 thousand and $15 thousand, respectively, in accretion on acquired loans accounted for under ASC 310-30. Non-accretable yield on PCI loans was $1.4 million and $1.6 million at December 31, 2021 and 2020, respectively. The Company had no commitments to loan additional funds to the borrowers of restructured, impaired, or non-accrual loans as of December 31, 2021 and 2020. Concentration of Risk: The Company makes loans to customers located primarily within Anne Arundel, Charles, Calvert, St. Mary’s, Wicomico and Worcester Counties, Maryland, Sussex County, Delaware, Camden and Burlington Counties, New Jersey, the Greater Fredericksburg, Virginia area (Stafford County, Spotsylvania County, King George County, Caroline County, and the City of Fredericksburg, Virginia) and the Greater Washington area (the District of Columbia, Arlington County, Clarke County, Fairfax County, Fauquier County, Loudoun County, Prince William County, Warren County, and the Cities of Alexandria, Fairfax, Falls Church, Manassas, Manassas Park, and Reston, Virginia) . A substantial portion of its loan portfolio consists of residential and commercial real estate mortgages. The ability of the Company’s debtors to honor their contracts is dependent upon the real estate and general economic conditions in these areas. Included in the amounts listed above are loans receivable from directors, principal officers, and stockholders of $22.0 million and $19.8 million at December 31, 2021 and 2020, respectively. During the years ending December 31, 2021 and 2020, loan additions totaled $9.8 million and $12.6 million , respectively. During the years ending December 31, 2021 and 2020, repayments totaled

Premises, Equipment and Depreci

Premises, Equipment and Depreciation	12 Months Ended
	Dec. 31, 2021
Premises, Equipment and Depreciation
Premises, Equipment and Depreciation	Note 4. Premises, Equipment and Depreciation A summary of premises and equipment, at cost, and accumulated depreciation as of December 31, 2021 and 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Land ​ $ 3,022 ​ $ 3,022 Buildings and improvements ​ 13,995 ​ 13,413 Furniture and equipment ​ 16,136 ​ 14,354 Total premises and equipment ​ 33,153 ​ 30,789 Less: accumulated depreciation ​ 16,978 ​ 15,350 Net premises and equipment ​ $ 16,175 ​ $ 15,439 ​ Depreciation expense totaled $1.7 million and $1.5 million for the years ended December 31, 2021, and 2020, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Taxes
Income Taxes	Note 5. Income Taxes Components of income tax expense for the years ended December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Current ​ ​ Federal ​ $ 1,520 ​ $ 1,941 State ​ 432 ​ 870 Total current ​ 1,952 ​ 2,811 Deferred income tax benefits (liabilities): ​ ​ Federal ​ 77 ​ (708) State ​ 218 ​ (380) Total deferred ​ 295 ​ (1,088) Income tax expense ​ $ 2,247 ​ $ 1,723 ​ A reconciliation of tax computed at the Federal statutory income tax rate of 21% to the actual income tax expense for the years ended December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Tax at Federal statutory income tax rate ​ $ 2,129 ​ $ 1,690 Tax effect of: ​ ​ Tax exempt income ​ (323) ​ (259) Other ​ 29 ​ (95) Noncontrolling interest ​ ​ (102) ​ ​ — State income taxes, net of Federal tax benefit ​ 514 ​ 387 Income tax expense ​ $ 2,247 ​ $ 1,723 ​ Income taxes included in the balance sheets as of December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Deferred income tax assets: ​ ​ Allowance for credit losses, unfunded commitments, and nonaccrual interest ​ $ 3,970 ​ $ 3,530 Net operating loss carryforward ​ 632 ​ 374 Accumulated amortization on intangibles ​ 13 ​ 21 Lease liability ​ ​ 2,061 ​ ​ 1,633 Net losses on other real estate owned ​ 549 ​ 1,134 Stock option expense ​ 23 ​ 25 Discounts on acquired loans ​ 522 ​ 1,060 Merger costs ​ ​ 254 ​ ​ — Realized gain or loss on investments ​ ​ 21 ​ ​ 6 Other fair value adjustments ​ ​ 24 ​ ​ 28 Other ​ ​ 53 ​ ​ 58 ​ ​ ​ 8,122 ​ ​ 7,869 Valuation allowance ​ (632) ​ (374) ​ ​ 7,490 ​ 7,495 Deferred tax liabilities: ​ ​ Accumulated depreciation ​ 117 ​ 77 Accumulated amortization on core deposit intangible ​ 489 ​ 650 Deferred gain ​ 132 ​ 136 Net unrealized gain on securities available for sale ​ ​ 165 ​ ​ 780 Right of use assets ​ ​ 1,872 ​ ​ 1,457 ​ ​ 2,775 ​ 3,100 Net deferred income tax asset ​ $ 4,715 ​ $ 4,395 ​ The Company has a state net operating loss of approximately $9.7 million. Losses incurred through December 31, 2017 have a life. Losses incurred in 2018 and after do not expire. Management has determined that this deferred tax asset will not be realizable in the future, and accordingly has recorded a valuation allowance of thousand as of December 31, 2021, the full value of the state net operating loss carryforward included in the deferred tax asset. Except for state net operating loss carryforwards at the holding company, management has determined that no other valuation allowance is required as it is more likely than not that the other deferred tax assets will be fully realizable in the future. At December 31, 2021 and 2020, management believes there are no uncertain tax positions under ASC Topic 740 Income Taxes (“ASC 740”)

Deposits

Deposits	12 Months Ended
	Dec. 31, 2021
Deposits
Deposits	Note 6. Deposits Time deposits and their remaining maturities at December 31, 2021 are as follows (dollars in thousands): ​ ​ ​ ​ ​ 2022 $ 240,936 2023 ​ 74,459 2024 ​ 28,873 2025 ​ 17,186 2026 ​ 17,792 Thereafter ​ 10 Total time deposits ​ $ 379,256 ​ Interest expense on deposits for the years ended December 31, 2021 and 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 NOW ​ $ 441 ​ $ 407 Money market ​ 626 ​ 849 Savings ​ 201 ​ 187 Time, $100,000 or more ​ 3,565 ​ 4,974 Other time ​ 1,843 ​ 3,010 ​ ​ $ 6,676 ​ $ 9,427 ​ The approximate amount of certificates of deposit of $250 thousand or more was $83.3 million and $145.4 million at December 31, 2021 and 2020, respectively. Deposit balances of officers and directors and their affiliated interests totaled approximately $20.4 million and $18.1 million as of December 31, 2021 and 2020, respectively. Deposit accounts in an overdraft position totaled approximately $124 thousand and $87 thousand as of December 31, 2021 and 2020, respectively. Some of the Company's certificate of deposits are through participation in the Certificate of Deposit Account Registry Service (“CDARS”). These deposits totaled $1.6

Other Income

Other Income	12 Months Ended
	Dec. 31, 2021
Other Income
Other Income	Note 7. Other Income Other income consists of the following for the years ending December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Bank owned life insurance ​ $ 413 ​ $ 264 Safe deposit box rentals ​ 63 ​ 56 Mortgage division fees ​ ​ 831 ​ ​ 650 Visa debit income ​ 1,319 ​ 1,035 Other non‑interest income ​ 1,098 ​ 996 ​ ​ $ 3,724 ​ $ 3,001 ​

Borrowings and Notes Payable

Borrowings and Notes Payable	12 Months Ended
	Dec. 31, 2021
Borrowings and Notes Payable
Borrowings and Notes Payable	Note 8. Borrowings and Notes Payable The Company owns capital stock of the FHLB as a condition for $409.0 million in convertible advance credit facilities from the FHLB. As of December 31, 2021, the Company had remaining credit availability of $382.7 million under these facilities. The following table details the advances the Company had outstanding with the FHLB at December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 Dollars in Thousands ​ Outstanding Balance Interest Rate Maturity Date Interest Payment Fixed rate hybrid ​ $ 5,000 3.15 % October 2022 Fixed, paid monthly Principal reducing credit ​ ​ 536 ​ 1.62 % March 2023 ​ Fixed, paid quarterly Fixed rate hybrid ​ ​ 9,900 ​ 1.29 % March 2024 Fixed, paid quarterly Fixed rate hybrid ​ ​ 9,900 ​ 1.29 % March 2024 Fixed, paid quarterly Principal reducing credit ​ 977 1.99 % March 2026 Fixed, paid quarterly Total advances ​ $ 26,313 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 Dollars in Thousands ​ ​ Outstanding Balance Interest Rate Maturity Date Interest Payment Fixed rate hybrid ​ $ 6,000 ​ 2.44 % April 2021 Fixed, paid quarterly Fixed rate hybrid ​ 5,000 3.15 % October 2022 Fixed, paid monthly Principal reducing credit ​ 964 1.62 % March 2023 Fixed, paid quarterly Fixed rate hybrid ​ ​ 9,900 ​ 1.29 % March 2024 Fixed, paid quarterly Fixed rate hybrid ​ ​ 9,900 ​ 1.29 % March 2024 Fixed, paid quarterly Principal reducing credit ​ 1,208 1.99 % March 2026 Fixed, paid quarterly Total advances ​ $ 32,972 ​ The Company did no t have any short-term borrowings outstanding with the FHLB during the year ended December 31, 2021. Average short-term borrowing outstanding under the FHLB approximated 31, 2020. Borrowings with the FHLB are considered short-term if they have an original maturity of less than a year. There were The Company has pledged a portion of its residential and commercial mortgage loan portfolio as collateral for these credit facilities. The Lendable Collateral Value outstanding on these pledged loans totaled approximately $181.8 The Company prepaid one of its outstanding FHLB advances totaling $10.0 million during the year ended December 31, 2020, which resulted in the recognition of $116 thousand in prepayment fees included the "Other Expenses” section of "Non-interest Expense" in the Consolidated Statements of Income. ​ In addition to the FHLB credit facility, in October 2015, the Company entered into a subordinated loan agreement for an aggregate principal amount of $2.0 million, net of issuance costs. Interest-only payments were due quarterly at 6.71% per annum, and the outstanding principal balance would have matured in October 2025. During July 2021, the prepayment provisions in the subordinated loan agreement were exercised, and the principal balance and any remaining accrued interest of this subordinated debt were paid in full. In January 2018, the Company entered into a subordinated loan agreement for an aggregate principal amount of million, net of issuance costs, to provide capital to support organic growth or growth through strategic acquisitions and capital expenditures. The subordinated notes will initially bear interest at Partners owns a one-half undivided interest in 410 William Street, Fredericksburg, Virginia. Partners purchased a one-half one-half of the remaining deed of trust loan on December 14, 2012. Partners indemnified the indemnities, who are the personal guarantors of the deed of trust loan in the amount of one-half of the outstanding balance of the loan as of the purchase date. Partners has a remaining obligation under the note payable of thousand. Partners had a remaining obligation under the note payable of thousand. The loan was refinanced on April 30, 2015 with a amortization. The interest rate is fixed at The Company provides JMC with a warehouse line of credit, which is eliminated in consolidation. In addition, JMC has a warehouse line of credit with another financial institution in the amount of million. The interest rate is the weekly average of the one month LIBOR at December 31, 2021). The rate is subject to change the first of every month. Amounts borrowed are collateralized by a security interest in the mortgage loans financed under the line and are payable upon demand. The warehouse line of credit is set to renew or mature on November 30, 2022. The balance outstanding at December 31, 2021 and 2020 was thousand, respectively. Interest expense on the warehouse lines of credit was During the second quarter of 2020, in connection with the loans originated as part of the PPP, the Company borrowed under the Federal Reserve’s PPP Liquidity Facility (“PPPLF”). Under the terms of the PPPLF, the Company could borrow funds which were secured by the Company’s PPP loans. As of December 31, 2021, the Company did not have any outstanding advances under the PPPLF. As of December 31, 2020, the Company’s outstanding advances under the PPPLF were million. The interest rate on the advances was fixed at a rate of through the advance maturities which ranged from April 2022 to June 2025. The proceeds of these long term borrowings were generally used to purchase higher yielding investment securities, fund additional loans, redeem preferred stock, or fund acquisitions. Additionally, the Company has secured credit availability of $5.0 million and unsecured credit availability of $87.0 million with various correspondent banks for short term liquidity needs, if necessary. The secured facility must be collateralized by specific securities at the time of any usage. At December 31, 2021, there were no borrowings outstanding, and securities pledged under this secured credit facility had an amortized cost and fair value of $4 thousand and $5 thousand, respectively. At December 31, 2020, there were fair value The Company has pledged investment securities available for sale with a combined amortized cost and fair value million, respectively, at December 31, 2020 with the FRB to secure Discount Window borrowings. At December 31, 2021 and 2020 there were Maturities on long-term debt are as follows (dollars in thousands): ​ ​ ​ ​ ​ 2022 $ 5,754 2023 ​ 314 2024 ​ 20,008 2025 ​ 210 2026 ​ ​ 39 Thereafter ​ 22,911 ​ ​ $ 49,236 ​

Profit Sharing Plan

Profit Sharing Plan	12 Months Ended
	Dec. 31, 2021
Profit Sharing Plan
Profit Sharing Plan	Note 9. Profit Sharing Plan The Company, Delmarva and Partners have a defined contribution 401(k) profit sharing plan covering substantially all full-time employees. Under the 401(k) profit sharing plan, the Company, Delmarva and Partners are currently matching 50% of employee contributions

Lease Commitments

Lease Commitments	12 Months Ended
	Dec. 31, 2021
Lease Commitments
Lease Commitments	Note 10. Lease Commitment The Company accounts for leases in accordance with ASU 2016-02, Leases (Topic 842) Certain leases include options to renew The following tables present information about the Company’s leases for the years ended: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in Thousands December 31, 2021 December 31, 2020 ​ Balance Sheet ​ ​ ​ ​ ​ ​ ​ Operating Lease Amounts ​ ​ ​ ​ ​ ​ ​ Right-of-use asset ​ $ 6,009 ​ $ 3,983 ​ Lease liability ​ 6,372 ​ ​ 4,301 ​ Finance Lease Amounts ​ ​ ​ ​ ​ ​ ​ Right-of-use asset ​ $ 1,687 ​ $ 1,824 ​ Lease liability ​ ​ 2,125 ​ ​ 2,242 ​ ​ ​ ​ ​ ​ ​ ​ ​ Supplemental balance sheet information ​ ​ ​ ​ ​ ​ ​ Weighted average lease term - Operating Leases (Yrs.) ​ 7.99 ​ ​ 8.00 ​ Weighted average lease term - Finance Leases (Yrs.) ​ 12.09 ​ ​ 13.09 ​ Weighted average discount rate - Operating Leases (1) ​ ​ 2.24 % ​ 2.74 % Weighted average discount rate - Finance Leases (1) ​ ​ 2.84 % ​ 2.84 % ​ ​ ​ ​ ​ ​ ​ ​ Income Statement ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2021 ​ December 31, 2020 ​ Operating lease cost classified as premises and equipment ​ $ 976 ​ $ 859 ​ Finance lease cost classified as interest on borrowings ​ ​ 62 ​ ​ 65 ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating outgoing cash flows from operating leases ​ $ 884 ​ $ 813 ​ Operating outgoing cash flows from finance leases ​ $ 178 ​ $ 178 ​ (1) The discount rate was developed by using the fixed rate credit advance borrowing rate at the FHLB for a term correlating to the remaining term of each lease. Management believes this rate closely mirrors its incremental borrowing rate for similar terms. Minimum lease payments for the next five years and thereafter, assuming renewal options are exercised, are approximately as follows: ​ ​ ​ ​ ​ ​ Dollars in Thousands Operating Leases: ​ ​ ​ One year or less ​ $ 1,042 One to three years ​ 1,668 Three to five years ​ 1,172 Over 5 years ​ 3,305 Total undiscounted cash flows ​ 7,187 Less: Discount ​ (815) Lease Liabilities ​ $ 6,372 ​ ​ ​ ​ Finance Leases: ​ ​ ​ One year or less ​ $ 178 One to three years ​ ​ 381 Three to five years ​ ​ 407 Over 5 years ​ ​ 1,569 Total undiscounted cash flows ​ ​ 2,535 Less: Discount ​ ​ (410) Lease Liabilities ​ $ 2,125 ​

Other Operating Expenses

Other Operating Expenses	12 Months Ended
	Dec. 31, 2021
Other Operating Expenses
Other Operating Expenses	Note 11. Other Operating Expenses Other operating expenses include the following for the years ending December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Professional services ​ $ 769 ​ $ 620 Stationary, printing and supplies ​ 273 ​ 254 Postage and delivery ​ 197 ​ 201 FDIC assessment ​ 904 ​ 644 State bank assessment ​ 66 ​ 82 Directors fees and expenses ​ 742 ​ 608 Marketing ​ 443 ​ 441 Correspondent bank services ​ 122 ​ 117 ATM expenses ​ 1,030 ​ 1,002 Telephones and mobile devices ​ 806 ​ 755 Membership dues and fees ​ 128 ​ 122 Legal fees ​ 562 ​ 535 Audit and related professional fees ​ 358 ​ 456 Insurance ​ 267 ​ 265 Listing Fees ​ ​ 58 ​ ​ 114 Other ​ 5,334 ​ 5,489 ​ ​ $ 12,059 ​ $ 11,705 ​

Stock Option Plans

Stock Option Plans	12 Months Ended
	Dec. 31, 2021
Stock Option Plans
Stock Option Plans	Note 12. Stock Option Plans Liberty Stock Option Plans In 2004 Liberty adopted the 2004 Incentive Stock Option Plan and the 2004 Non-Qualified Stock Option Plan, which were stock-based incentive compensation plans (the Liberty Plans). In February 2014 the Liberty Plans expired pursuant to their terms. Options under these plans had a 10 year life and vested over 5 years. Remaining options under these plans became fully vested with the signing of the Agreement of Merger with the Company in February 2018. In accordance with the terms of the Agreement of Merger between the Company and Liberty, the Liberty Plans were assumed by the Company, and the options were converted into and became an option to purchase an adjusted number of shares of the common stock of the Company at an adjusted exercise price per share. The number of shares was determined by multiplying the number of shares of Liberty common stock for which the option was exercisable by the number of shares of the Company common stock into which shares of Liberty common stock were convertible in the Merger, which was 0.2857 (the “Conversion Ratio”), rounded to the next lower whole share. The exercise price was determined by dividing the exercise price per share of Liberty common stock by the Conversion Ratio, rounded up to the nearest cent. At the effective time of the merger there were 48,225 options outstanding at an exercise price of $1.18. These options were converted to 13,771 options outstanding at an exercise price of $4.14. A summary of stock option transactions for the year ended ended December 31, 2021 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercise ​ Contractual ​ ​ Intrinsic ​ ​ ​ Shares ​ ​ Price ​ Life ​ ​ Value Outstanding at beginning of period ​ ​ 7,681 ​ $ 4.14 ​ 2.23 ​ ​ ​ Granted ​ ​ — ​ ​ — ​ — ​ ​ ​ Exercised ​ ​ (1,920) ​ ​ 4.14 ​ — ​ ​ ​ Forfeited ​ ​ — ​ ​ — ​ — ​ ​ ​ Outstanding at end of period ​ ​ 5,761 ​ $ 4.14 ​ 1.23 ​ $ 32,607 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options exercisable at December 31, 2021 ​ ​ 5,761 ​ $ 4.14 ​ ​ ​ ​ ​ ​ Partners Stock Option Plan In 2015 Partners adopted the 2015 Stock Option Plan (the “2015 Partners Plan”), which allowed both incentive stock options and nonqualified stock options to be granted. The exercise price of each stock option equaled the market price of Partners' common stock on the date of grant and a stock option’s maximum term was . Stock options granted in the years ended December 31, 2018 and 2017 vested over . Partners previous stock compensation plan (the “2008 Partners Plan”) provided for the grant of share based awards in the form of incentive stock options and nonqualified stock options to Partners’ directors, officers and employees. In April 2015 the 2008 Partners Plan was terminated and replaced with the 2015 Partners Plan. Stock options outstanding prior to April 2015 were granted under the 2008 Partners Plan and became subject to the provisions of the 2015 Partners Plan. The 2008 Partners Plan also provided for stock options to be granted to seed investors as a reward for the contribution to organizational funds which were at risk if Partners’ organization had not been successful. Under the 2008 Partners Plan, Partners granted stock options to seed investors in 2008, which were fully vested upon the date of the grant. As a result of the Share Exchange, each stock option (the "Partners Options"), whether vested or unvested, issued and outstanding immediately prior to the effective time under the 2008 Partners Plan or the 2015 Partners Plan and together with the 2008 Partners Plan, (the "Partners Stock Plans"), immediately 100% vested, to the extent not already vested, and converted into and became stock options to purchase Company common stock. In addition, the Company assumed each Partners Stock Plan, and assumed each Partners Option in accordance with the terms and conditions of the Partners Stock Plan pursuant to which it was issued. As such, Partners Options to acquire per share. The number of shares was determined by multiplying the number of shares of Partners common stock for which the option was exercisable by the number of shares of the Company common stock into which shares of Partners common stock were convertible in the Share Exchange, which was (the “Conversion Ratio”), rounded to the next lower whole share. The exercise price was determined by dividing the exercise price per share of Partners common stock by the Conversion Ratio, rounded up to the nearest cent. A summary of stock option transactions for the year ended December 31, 2021 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercise ​ Contractual ​ ​ Intrinsic ​ ​ ​ Shares ​ ​ Price ​ Life ​ ​ Value Outstanding at beginning of period ​ ​ 186,552 ​ $ 6.22 ​ 3.47 ​ ​ ​ Granted ​ ​ — ​ ​ — ​ — ​ ​ ​ Exercised ​ ​ (58,405) ​ ​ 5.83 ​ — ​ ​ ​ Forfeited ​ ​ — ​ ​ — ​ — ​ ​ ​ Outstanding at end of period ​ ​ 128,147 ​ $ 6.40 ​ 3.18 ​ $ 435,823 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options exercisable at December 31, 2021 ​ ​ 128,147 ​ $ 6.40 ​ ​ ​ ​ ​ ​ The intrinsic value represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock options exceeds the exercise price) that would have been received by the holders had they exercised their stock options on December 31, 2021. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ Dividend yield ​ 1.34 % Expected life ​ 1.91 ​ Expected volatility ​ 4.34 % Risk-free interest rate ​ 1.60 % ​ The Black-Scholes option pricing model was used to value the replacement stock option awards per the share exchange agreement in 2019. The expected volatility is based on the Company’s recent historical volatility. The risk-free interest rates for periods within the contractual life of the awards are based on the U.S. Treasury yield curve in effect at the time of the grant. The expected life is based on the contractual life and vesting period for the respective stock option. The dividend yield assumption is based on the Company’s expectation of dividend payouts. As stated in Note 1, the Company follows ASC Topic 718-10 which requires that stock-based compensation to employees and directors be recognized as compensation cost in the income statement based on their fair values on the measurement date, which, for the Company, is the date of the grant. All stock-based compensation expense related to stock options had been fully recognized prior to 2020 and there was no expense recorded related to stock options during the years ended December 31, 2021 or 2020.

Restricted Stock Plan

Restricted Stock Plan	12 Months Ended
	Dec. 31, 2021
Restricted Stock Plan
Restricted Stock Plan	Note 13. Restricted Stock Plan The Company had an employee and director restricted stock plan (the “Plan”) and had reserved 405,805 shares of stock for issuance thereunder. The Company adopted the Plan, pursuant to which employee and directors of the Company could acquire shares of common stock. The Plan was adopted by the Company's Board of Directors in April 2014, and subject to the right of the Board of Directors to terminate the Plan at any time, terminated on June 30, 2018. The termination of the Plan, either at the scheduled termination date or before such date, does not affect any award issued prior to termination. During the years ending December 31, 2017 and 2018, the Company awarded 5,000 shares and 9,000 shares, respectively, to individual employees based on certain employment criteria. These shares vested over two or three years, based on the specific award agreement. Each award from the plan is evidenced by an award agreement that specifies the vesting period of the restricted stock award, the number of shares to which the award pertains, and such other provisions as the grantor determines. As of December 31, 2021 there were no remaining non-vested restricted stock awards under the Plan. A schedule of vested restricted stock awards in the year ending December 31, 2021 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Employees ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Shares ​ Fair Value Nonvested Awards December 31, 2020 3,000 $ 7.30 Vested in 2021 (3,000) ​ 7.30 Nonvested Awards December 31, 2021 — ​ $ — ​ As stated in Note 1, the Company follows ASC Topic 718-10 which requires that restricted stock-based compensation to employees and directors be recognized as compensation cost in the income statement based on their fair values on the measurement date. The fair value of restricted stock granted in 2018 and 2019 is equal to the underlying fair value of the stock. As a result of applying the provisions of ASC Topic 718-10, during 2021 the Company recognized restricted stock-based compensation expense of $4 thousand, or $3 thousand net of tax, related to the 2014 restricted stock awards. During 2020 the Company recognized restricted stock-based compensation expense of $14 thousand, or $11 thousand net of tax, related to the 2014 restricted stock awards. The Company did no t have any unrecognized restricted stock-based compensation expense related to restricted stock awards under the Plan at

Incentive Stock Plan

Incentive Stock Plan	12 Months Ended
	Dec. 31, 2021
Incentive Stock Plan
Incentive Stock Plan	Note 14. Incentive Stock Plan At the 2021 annual meeting of shareholders held on May 19, 2021 (the “2021 Annual Meeting”), the Company’s shareholders approved the Partners Bancorp 2021 Incentive Stock Plan (the “2021 Incentive Stock Plan”), which the Company’s Board of Directors had adopted, subject to shareholder approval, on January 27, 2021, based on the recommendation of the Compensation Committee of the Company’s Board of Directors (the “Committee”). The 2021 Incentive Stock Plan became effective upon shareholder approval at the 2021 Annual Meeting. The 2021 Incentive Stock Plan authorizes the granting of stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards and performance units to key employees and non-employee directors, including members of advisory boards, of the Company and certain of its subsidiaries, as determined by the Committee. Subject to the right of the Board of Directors to terminate the 2021 Incentive Stock Plan at any time, awards may be granted under the 2021 Incentive Stock Plan until May 18, 2031. Subject to adjustment in the event of certain changes in the Company’s capital structure, the maximum number of shares of the Company’s common stock that may be issued under the 2021 Incentive Stock Plan is 1,250,000. On April 28, 2021, the Company’s Board of Directors granted 58,824 shares of restricted stock to two senior officers of Partners in accordance with Nasdaq Listing Rule 5635(c)(4) as inducements material to each of them accepting employment with Partners. All of these shares were subject to time vesting in three equal annual installments beginning on April 28, 2022. On December 10, 2021, in accordance with the terms and conditions set forth in the definitive agreement and plan of merger with OCFC, the Company’s Board of Directors approved to immediately vest these outstanding and unvested awards. The accelerated vesting of these awards was not contingent upon the merger closing. Each grantee irrevocably and unconditionally covenanted and agreed to not transfer, convey or sell any share of Company common stock, along with certain other terms, in respect of such accelerated vesting of the restricted stock awards. On October 12, 2021, the Company’s Board of Directors granted 68,000 shares of restricted stock to employees of Partners under the 2021 Incentive Stock Plan. All of these shares were subject to time vesting in three equal annual installments beginning on June 1, 2022. On December 10, 2021, in accordance with the terms and conditions set forth in the definitive agreement and plan of merger with OCFC, the Company’s Board of Directors approved to immediately vest of these outstanding and unvested awards. The accelerated vesting of these awards was not contingent upon the merger closing. Each grantee of awards that were subject to the accelerated vesting provisions irrevocably and unconditionally covenanted and agreed to not transfer, convey or sell any share of Company common stock, along with certain other terms, in respect of such accelerated vesting of the restricted stock awards. On October 27, 2021, the Company’s Board of Directors granted 27,000 shares of restricted stock to a director of the Company and Partners under the 2021 Incentive Stock Plan. All of these shares were subject to time vesting in three equal annual installments beginning on June 1, 2022. On December 10, 2021, in accordance with the terms and conditions set forth in the definitive agreement and plan of merger with OCFC, the Company’s Board of Directors approved to immediately vest these outstanding and unvested awards. The accelerated vesting of these awards was not contingent upon the merger closing. The grantee irrevocably and unconditionally covenanted and agreed to not transfer, convey or sell any share of Company common stock, along with certain other terms, in respect of such accelerated vesting of the restricted stock awards. As of December 31, 2021, there were 28,000 non-vested shares related to restricted stock awards. A schedule of non-vested shares related to restricted stock awards as of December 31, 2021 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Employees ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Shares ​ Fair Value Nonvested Awards December 31, 2020 — $ — Awarded in 2021 153,824 ​ 8.43 Vested in 2021 ​ (125,824) ​ ​ 8.31 Nonvested Awards December 31, 2021 28,000 ​ $ 8.99 ​ As a result of applying the provisions of ASC 718-10, during the year ended December 31, 2021, the Company recognized restricted stock-based compensation expense of $1.1 million, or $785 thousand net of tax, related to the restricted stock awards. Restricted stock-based compensation expense is accounted for using the fair value of the Company’s common stock on the date the restricted shares were awarded, which was $7.65 for the awards granted on April 28, 2021, $8.99 for the awards granted on October 12, 2021, and $8.72 for the awards granted on October 21, 2021. Unrecognized restricted stock-based compensation expense related to the restricted stock awards totaled approximately $228 thousand at December 31, 2021. The remaining period over which this unrecognized restricted stock-based compensation expense is expected to be recognized is approximately 2.4 years.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share
Earnings Per Share	Note 15. Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net income or loss by the weighted average number of shares outstanding during the period. Diluted EPS is computed using the weighted average number of shares outstanding during the period, including the effect of all potentially dilutive shares outstanding attributable to stock instruments. Applicable guidance requires that outstanding, unvested share-based payment awards that contain voting rights and rights to nonforfeitable dividends participate in undistributed earnings with common shareholders. Accordingly, the weighted average number of shares of the Company’s common stock used in the calculation of basic and diluted EPS includes unvested shares of the Company’s outstanding restricted common stock. ​ The following table presents basic and diluted EPS for the years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Income Applicable ​ ​ ​ ​ ​ ​ to Basic Earnings ​ Weighted Average ​ ​ ​ (Dollars in thousands, except per share data) ​ Per Common Share ​ Shares Outstanding ​ ​ ​ For the year ended December 31, 2021 ​ ​ ​ ​ ​ ​ Basic EPS ​ $ 7,411 ​ ​ 17,790 ​ $ 0.417 Effect of dilutive stock awards ​ ​ — ​ ​ 44 ​ ​ — Diluted EPS ​ $ 7,411 ​ ​ 17,834 ​ $ 0.416 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, 2020 ​ ​ ​ ​ ​ ​ Basic EPS ​ $ 5,670 ​ ​ 17,806 ​ $ 0.318 Effect of dilutive stock awards ​ ​ — ​ ​ 26 ​ ​ — Diluted EPS ​ $ 5,670 ​ ​ 17,832 ​ $ 0.318 ​

Regulatory Capital Requirements

Regulatory Capital Requirements	12 Months Ended
	Dec. 31, 2021
Regulatory Capital Requirements
Regulatory Capital Requirements	Note 16. Regulatory Capital Requirements The Company’s subsidiaries are subject to various regulatory capital requirements administered by Federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory — and possibly additional discretionary — actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company’s subsidiaries must meet specific capital adequacy guidelines that involve quantitative measures of the Company’s subsidiaries assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s subsidiaries’ capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weighting, and other factors. Federal banking regulations also impose regulatory capital requirements on bank holding companies. Under the small bank holding company policy statement of the Federal Reserve Board, which applies to certain bank holding companies with consolidated total assets of less than $3 billion, the Company is not subject to regulatory capital requirements. On September 17, 2019 the Federal Deposit Insurance Corporation finalized a rule that introduces an optional simplified measure of capital adequacy for qualifying community banking organizations (i.e., the community bank leverage ratio (CBLR) framework), as required by the Economic Growth, Regulatory Relief and Consumer Protection Act. The CBLR framework is designed to reduce burden by removing the requirements for calculating and reporting risk-based capital ratios for qualifying community banking organizations that opt into the framework. In order to qualify for the CBLR framework, a community banking organization must have a tier 1 leverage ratio of at least 9 percent, less than $10 billion in total consolidated assets, and limited amounts of off-balance-sheet exposures and trading assets and liabilities. A qualifying community banking organization that opts into the CBLR framework and meets all requirements under the framework will be considered to have met the well-capitalized ratio requirements under the Prompt Corrective Action regulations and will not be required to report or calculate risk-based capital. The Company has elected not to opt into the CBLR framework at this time. Quantitative measures established by regulation to ensure capital adequacy require the Company’s subsidiaries to maintain minimum amounts and ratios (as defined in the regulations) of total and Tier I capital to risk-weighted assets, Tier I capital to average assets, and beginning in 2015, common equity Tier I capital to risk-weighted assets. Management believes as of December 31, 2021 that the Company’s subsidiaries meet all capital adequacy requirements to which they are subject. As of December 31, 2021, the most recent notification from the FDIC categorized the Company’s subsidiaries as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Company’s subsidiaries must maintain minimum total risk-based, Tier I risk-based, Tier I leverage and common equity Tier I risk-based ratios. There are no conditions or events since that notification that management believes have changed the Company’s subsidiaries’ categories. The Common Equity Tier I, Tier I and Total capital ratios are calculated by dividing the respective capital amounts by risk-weighted assets. Risk-weighted assets are calculated based on regulatory requirements and include total assets, with certain exclusions, allocated by risk weight category, and certain off-balance-sheet items, among other things. The leverage ratio is calculated by dividing Tier I capital by adjusted quarterly average total assets, which exclude goodwill and other intangible assets, among other things. The Basel III Capital Rules require the Company’s subsidiaries to maintain (i) a minimum ratio of Common Equity Tier 1 capital to risk-weighted assets of at least 4.5%, plus a 2.5% “capital conservation buffer” (which is added to the 4.5% Common Equity Tier 1 capital ratio, effectively resulting in a minimum ratio of Common Equity Tier 1 capital to risk-weighted assets of at least 7.0%), (ii) a minimum ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the capital conservation buffer (which is added to the 6.0% Tier 1 capital ratio, effectively resulting in a minimum Tier 1 capital ratio of 8.5%), (iii) a minimum ratio of Total capital (that is, Tier 1 capital plus Tier 2 capital) to risk-weighted assets of at least 8.0%, plus the capital conservation buffer (which is added to the 8.0% Total capital ratio, effectively resulting in a minimum Total capital ratio of 10.5%) and (iv) a minimum leverage ratio of 4.0%, calculated as the ratio of Tier 1 capital to average quarterly assets. The implementation of the capital conservation buffer became fully phased in January 1, 2019. The capital conservation buffer is designed to absorb losses during periods of economic stress and, as detailed above, effectively increases the minimum required risk-weighted capital ratios. Banking institutions with a ratio of Common Equity Tier I capital to risk-weighted assets below the effective minimum (4.5% plus the capital conservation buffer and, if applicable, the countercyclical capital buffer) will face constraints on dividends, equity repurchases and compensation based on the amount of the shortfall. The following table presents actual and required capital ratios as of December 31, 2021 and 2020 for the Company’s subsidiaries under the Basel III Capital Rules. The minimum required capital amounts presented include the minimum required capital levels as of December 31, 2021 and 2020 based on the fully phased-in provisions of the Basel III Capital Rules. Capital levels required to be considered well capitalized are based on prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. A comparison of the Company’s subsidiaries’ capital amounts and ratios as of December 31, 2021 and 2020 with the minimum requirements are presented below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To Be ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Well Capitalized ​ ​ ​ ​ ​ ​ ​ For Capital ​ Under Prompt ​ ​ ​ ​ ​ ​ ​ Adequacy ​ Corrective Action In Thousands ​ Actual ​ Purposes ​ Provisions ​ Amount Ratio Amount Ratio Amount Ratio As of December 31, 2021 ​ ​ ​ ​ Total Capital Ratio ​ ​ ​ ​ (To Risk Weighted Assets) ​ ​ ​ ​ The Bank of Delmarva ​ $ 91,928 12.9 % $ 74,963 10.5 % $ 71,394 10.0 % Virginia Partners Bank ​ 56,192 12.0 % 49,103 10.5 % 46,765 10.0 % Tier I Capital Ratio ​ ​ ​ ​ ​ ​ ​ ​ ​ (To Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ The Bank of Delmarva ​ 82,972 11.6 % 60,684 8.5 % 57,115 8.0 % Virginia Partners Bank ​ 52,844 11.3 % 39,750 8.5 % 37,412 8.0 % Common Equity Tier I Ratio ​ ​ ​ ​ ​ ​ ​ ​ ​ (To Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ The Bank of Delmarva ​ 82,972 11.6 % 49,975 7.0 % 46,406 6.5 % Virginia Partners Bank ​ 52,844 11.3 % 32,735 7.0 % 30,397 6.5 % Tier I Leverage Ratio ​ ​ ​ ​ ​ ​ ​ ​ ​ (To Average Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ The Bank of Delmarva ​ 82,972 8.1 % 40,926 4.0 % 51,158 5.0 % Virginia Partners Bank ​ 52,844 8.5 % 25,009 4.0 % 31,261 5.0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 ​ ​ ​ ​ Total Capital Ratio ​ ​ ​ ​ (To Risk Weighted Assets) ​ ​ ​ ​ The Bank of Delmarva ​ $ 85,497 12.9 % $ 69,608 10.5 % $ 66,294 10.0 % Virginia Partners Bank ​ ​ 51,971 13.5 % ​ 40,381 10.5 % ​ 38,459 10.0 % Tier I Capital Ratio ​ ​ ​ ​ ​ ​ ​ ​ ​ (To Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ The Bank of Delmarva ​ 77,168 11.6 % 56,350 8.5 % 53,035 8.0 % Virginia Partners Bank ​ ​ 50,271 13.1 % ​ 32,690 8.5 % ​ 30,767 8.0 % Common Equity Tier I Ratio ​ ​ ​ ​ ​ ​ ​ ​ ​ (To Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ The Bank of Delmarva ​ 77,168 11.6 % 46,406 7.0 % 43,091 6.5 % Virginia Partners Bank ​ ​ 50,271 13.1 % ​ 26,921 7.0 % ​ 24,998 6.5 % Tier I Leverage Ratio ​ ​ ​ ​ ​ ​ ​ ​ ​ (To Average Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ The Bank of Delmarva ​ 77,168 8.1 % 38,262 4.0 % 47,827 5.0 % Virginia Partners Bank ​ ​ 50,271 9.5 % ​ 21,253 4.0 % ​ 26,567 5.0 % ​ Banking regulations also limit the amount of dividends that may be paid without prior approval of the Company’s and its Subsidiaries’ regulatory agencies. Regulatory approval is required to pay dividends, which exceed the Company’s and its Subsidiaries’ net profits for the current year plus its retained net profits for the preceding two years. At December 31, 2021, approximately million was available for the payment of dividends to stockholders by the Company without regulatory approval. Dividends from the affiliates to the Company are also limited by the amount of retained net profits of the affiliate in the current year and the preceding two years. At December 31, 2021, approximately

Fair Values of Financial Instru

Fair Values of Financial Instruments	12 Months Ended
	Dec. 31, 2021
Fair Values of Financial Instruments
Fair Values of Financial Instruments	Note 17. Fair Values of Financial Instruments FASB ASC 825, Financial Instruments (“ASC 825”) requires disclosure about fair value of financial instruments, including those financial assets and financial liabilities that are not required to be measured and reported at fair value on a recurring or nonrecurring basis. ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. Additionally, in accordance with ASU 2016-01, the Company uses the exit price notion, rather than the entry price notion, in calculating the fair values of financial instruments not measured at fair value on a recurring basis. ​ The estimated fair values, and related carrying amounts, of the Company’s financial instruments are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars are in thousands ​ ​ ​ ​ Fair Value Measurements at December 31, 2021 ​ ​ ​ ​ ​ Quoted Prices in ​ Significant ​ Significant ​ ​ ​ ​ ​ ​ Active Markets for ​ Other ​ Unobservable ​ ​ ​ ​ ​ Carrying ​ Identical Assets ​ Observable Inputs ​ Inputs ​ ​ ​ ​ Amount (Level 1) (Level 2) (Level 3) Balance Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 12,887 ​ $ 12,887 ​ $ — ​ $ — ​ $ 12,887 Interest bearing deposits ​ 297,902 ​ 297,902 ​ — ​ — ​ 297,902 Federal funds sold ​ 28,040 ​ 28,040 ​ — ​ — ​ 28,040 Securities: ​ ​ ​ ​ ​ ​ ​ Available for sale ​ 122,021 ​ — ​ 122,021 ​ — ​ 122,021 Loans held for sale ​ ​ 4,064 ​ ​ — ​ ​ 4,064 ​ ​ — ​ ​ 4,064 Loans, net of allowance for credit losses ​ 1,102,539 ​ — ​ — ​ 1,089,812 ​ 1,089,812 Accrued interest receivable ​ 4,313 ​ — ​ 4,313 ​ — ​ 4,313 Restricted stock ​ 4,869 ​ — ​ 4,869 ​ — ​ 4,869 Other investments ​ 5,065 ​ — ​ 5,065 ​ — ​ 5,065 Bank owned life insurance ​ ​ 18,254 ​ ​ — ​ ​ 18,254 ​ ​ — ​ ​ 18,254 Other real estate owned ​ 837 ​ — ​ — ​ 837 ​ 837 Financial liabilities: ​ ​ ​ ​ ​ Deposits ​ $ 1,442,876 ​ $ — ​ $ 1,063,619 ​ $ 380,245 ​ $ 1,443,864 Accrued interest payable ​ 280 ​ — ​ 280 ​ — ​ 280 FHLB advances ​ 26,313 ​ — ​ 27,007 ​ — ​ 27,007 Subordinated notes payable ​ 22,168 ​ — ​ 30,091 ​ — ​ 30,091 Other borrowings ​ ​ 755 ​ ​ — ​ ​ — ​ ​ 755 ​ ​ 755 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars are in thousands ​ ​ ​ ​ Fair Value Measurements at December 31, 2020 ​ ​ ​ ​ ​ Quoted Prices in ​ Significant ​ Significant ​ ​ ​ ​ ​ ​ Active Markets for ​ Other ​ Unobservable ​ ​ ​ ​ ​ Carrying ​ Identical Assets ​ Observable Inputs ​ Inputs ​ ​ ​ ​ Amount (Level 1) (Level 2) (Level 3) Balance Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 13,643 ​ $ 13,643 ​ $ — ​ $ — ​ $ 13,643 Interest bearing deposits ​ 218,667 ​ 218,667 ​ — ​ — ​ 218,667 Federal funds sold ​ 50,301 ​ 50,301 ​ — ​ — ​ 50,301 Securities: ​ ​ ​ ​ ​ ​ ​ Available for sale ​ 124,925 ​ — ​ 124,925 ​ — ​ 124,925 Loans held for sale ​ ​ 9,858 ​ ​ — ​ ​ 9,858 ​ ​ — ​ ​ 9,858 Loans, net of allowance for credit losses ​ 1,022,302 ​ — ​ — ​ 1,018,649 ​ 1,018,649 Accrued interest receivable ​ 5,229 ​ — ​ 5,229 ​ — ​ 5,229 Restricted stock ​ 5,445 ​ — ​ 5,445 ​ — ​ 5,445 Other investments ​ 5,091 ​ — ​ 5,091 ​ — ​ 5,091 Bank owned life insurance ​ ​ 14,841 ​ ​ — ​ ​ 14,841 ​ ​ — ​ ​ 14,841 Other real estate owned ​ 2,677 ​ — ​ — ​ 2,677 ​ 2,677 Financial liabilities: ​ ​ ​ ​ ​ Deposits ​ $ 1,268,140 ​ $ — ​ $ 839,122 ​ $ 435,910 ​ $ 1,275,032 Accrued interest payable ​ 402 ​ — ​ 402 ​ — ​ 402 FHLB advances ​ 32,972 ​ — ​ 34,147 ​ 798 ​ 34,945 Subordinated notes payable ​ 24,101 ​ — ​ 34,810 ​ — ​ 34,810 Other borrowings ​ ​ 42,382 ​ ​ — ​ ​ 41,585 ​ ​ — ​ ​ 41,585 ​ The Company assumes interest rate risk (the risk that general interest rate levels will change) as a result of its normal operations. As a result, the fair values of the Company’s financial instruments will change when interest rate levels change and that change may be either favorable or unfavorable to the Company. Management attempts to match maturities of assets and liabilities to the extent believed necessary to minimize interest rate risk. However, borrowers with fixed rate obligations are less likely to repay in a rising rate environment and more likely to prepay in a falling rate environment. Conversely, depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors rates and maturities of assets and liabilities and attempts to minimize interest rate risk by adjusting terms of new loans and deposits and by investing in securities with terms that mitigate the Company’s overall interest rate risk.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Measurements
Fair Value Measurements	Note 18. Fair Value Measurements The Company follows ASC 820-10 Fair Value Measurements and Disclosures ASC Topic 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC Topic 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value Fair Value Hierarchy In accordance with this guidance, the Company groups its financial assets and financial liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. Level 1 Level 2 Level 3—Valuation is based on model-based techniques that use one or more significant inputs or assumptions that are unobservable in the market. The following describes the valuation techniques used by the Company to measure certain financial assets recorded at fair value on a recurring basis in the financial statements: Investment Securities Available for Sale: Investment securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted market prices, when available (Level 1). If quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable market data. Third party vendors compile prices from various sources and may determine the fair value of identical or similar securities by using pricing models that consider observable market data (Level 2). In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 of the valuation hierarchy. Currently, all of the Company’s investment securities available for sale are considered to be Level 2 securities. ​ The following table presents fair value measurements on a recurring basis as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Dollars are in thousands Level 1 Level 2 Level 3 Value December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ Obligations of U.S. Government agencies and corporations ​ $ — ​ $ 6,451 ​ $ — ​ $ 6,451 Obligations of States and political subdivisions ​ — ​ 31,126 ​ — ​ 31,126 Mortgage-backed securities ​ — ​ 82,403 ​ — ​ 82,403 Subordinated debt investments ​ ​ — ​ 2,041 ​ — ​ 2,041 Total securities available for sale ​ $ — ​ $ 122,021 ​ $ — ​ $ 122,021 December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of U.S. Government agencies and corporations ​ $ — ​ $ 6,883 ​ $ — ​ $ 6,883 Obligations of States and political subdivisions ​ — ​ 38,123 ​ — ​ 38,123 Mortgage-backed securities ​ — ​ 75,876 ​ — ​ 75,876 Subordinated debt investments ​ ​ — ​ 4,043 ​ — ​ 4,043 Total securities available for sale ​ $ — ​ $ 124,925 ​ $ — ​ $ 124,925 ​ Certain financial assets are measured at fair value on a nonrecurring basis in accordance with U.S. GAAP. Adjustments to the fair value of these financial assets usually result from the application of lower of cost or market accounting or write-downs of individual assets. The following describes the valuation techniques used by the Company to measure certain financial assets recorded at fair value on a nonrecurring basis in the financial statements: Loans Held for Sale: Loans held for sale are loans originated by JMC for sale in the secondary market. Loans originated for sale by JMC are recorded at lower of cost or market. No market adjustments were required at December 31, 2021 or 2020; therefore, loans held for sale were carried at cost. Because of the short-term nature, the book value of these loans approximates fair value at December 31, 2021 and December 31, 2020. Impaired Loans: Loans are designated as impaired when, in the judgment of management based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected when due. The measurement of loss associated with impaired loans can be based on either the observable market price of the loan or the fair value of the collateral. Fair value is measured based on the value of the collateral securing the loans. Collateral may be in the form of real estate or business assets including equipment, inventory, and accounts receivable. The vast majority of the collateral is real estate. The value of real estate collateral is determined utilizing a market valuation approach based on an appraisal conducted by an independent, licensed appraiser outside of the Company using observable market data (Level 2). However, if the collateral is a house or building in the process of construction or if an appraisal of the real estate property is over two years old, then the fair value is considered Level 3. The value of business equipment is based upon an outside appraisal if deemed significant, or the net book value on the applicable business’s financial statements if not considered significant. Likewise, values for inventory and accounts receivables collateral are based on financial statement balances or aging reports (Level 3). Impaired loans allocated to the allowance for credit losses are measured at fair value on a nonrecurring basis. Any fair value adjustments are recorded in the period incurred as a provision for credit losses on the consolidated statement of income. Other Real Estate Owned: Other real estate owned (“OREO”) is measured at fair value less cost to sell, based on an appraisal conducted by an independent, licensed appraiser outside of the Company. If the collateral value is significantly adjusted due to differences in the comparable properties, or is discounted by the Company because of marketability, then the fair value is considered Level 3. OREO is measured at fair value on a nonrecurring basis. Any initial fair value adjustment is charged against the allowance for credit losses. Subsequent fair value adjustments are recorded in the period incurred and included in other noninterest expense on the consolidated statement of income. The following table presents the balances of financial assets measured at fair value on a non-recurring basis as of December 31, 2021 and 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Dollars are in thousands Level 1 Level 2 Level 3 Value December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans ​ $ — ​ $ — ​ $ 4,653 ​ $ 4,653 OREO ​ — ​ — ​ 837 ​ 837 Total ​ $ — ​ $ — ​ $ 5,490 ​ $ 5,490 December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans ​ $ — ​ $ — ​ $ 2,581 ​ $ 2,581 OREO ​ ​ — ​ ​ — ​ ​ 2,677 ​ ​ 2,677 Total ​ $ — ​ $ — ​ $ 5,258 ​ $ 5,258 ​ The following table presents additional quantitative information about financial assets measured at fair value on a non-recurring basis and for which the Company has utilized Level 3 inputs to determine fair value as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ Valuation ​ Unobservable ​ Range of Dollars are in thousands ​ Fair Value ​ Technique ​ Inputs ​ Inputs Impaired loans $ 4,653 Appraisals Discount to reflect current market conditions and estimated selling costs 8% OREO ​ ​ 837 ​ Appraisals or Listing Price ​ Discount to reflect current market conditions and estimated selling costs ​ 8-10% Total ​ $ 5,490 ​ ​ ​ ​ ​ ​ ​ The following table presents additional quantitative information about financial assets measured at fair value on a non-recurring basis and for which the Company has utilized Level 3 inputs to determine fair value as of December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ Valuation ​ Unobservable ​ Range of Dollars are in thousands ​ Fair Value ​ Technique ​ Inputs ​ Inputs Impaired loans $ 2,581 Appraisals Discount to reflect current market conditions and estimated selling costs 8% OREO ​ ​ 2,677 ​ Appraisals or Listing Price ​ Discount to reflect current market conditions and estimated selling costs ​ 8-10% Total ​ $ 5,258 ​ ​ ​ ​ ​ ​ ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets
Goodwill and Intangible Assets	Note 19. Goodwill and Intangible Assets The Company accounts for goodwill and other intangible assets in accordance with ASC Topic 350, Intangibles—Goodwill and Other Goodwill: The Company acquired goodwill in the purchases of Liberty, which was effective in 2018, and Partners, which was effective in 2019. The following table provides changes in goodwill for the periods ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, Dollars in Thousands 2021 2020 Balance at the beginning of the period ​ $ 9,582 ​ $ 9,391 Measurement period adjustments ​ — ​ 191 Balance at the end of the period ​ $ 9,582 ​ $ 9,582 ​ The measurement period adjustments in the table above for 2020 relate to the finalization of tax and related deferred tax adjustments in connection with the acquisition of Partners. Core Deposit Intangible: The Company acquired core deposit intangibles in the acquisitions of Liberty and Partners. For the core deposit intangible related to Liberty, the Company utilizes the double declining balance method of amortization, in which the straight line amortization rate is doubled and applied to the remaining unamortized portion of the intangible asset. The amortization method changes to the straight line method of amortization when the straight line amortization amount exceeds the amount that would be calculated under the double declining balance method. This core deposit intangible will be amortized over . The following table provides changes in the core deposit intangible for the years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, Dollars in Thousands 2021 2020 Balance at the beginning of the period ​ $ 2,660 ​ $ 3,373 Amortization ​ (600) ​ (713) Balance at the end of the period ​ $ 2,060 ​ $ 2,660 ​ ​ ​ ​ ​ ​ ​ ​ December 31, Dollars in Thousands ​ 2021 2022 ​ $ 520 2023 ​ ​ 467 2024 ​ ​ 415 2025 ​ ​ 246 2026 ​ ​ 182 Thereafter ​ ​ 230 ​ ​ $ 2,060 ​ Net Deposits Purchased Premium and Discount: The Company paid a deposit premium in the acquisition of Liberty and received a deposit discount in the acquisition of Partners, which are included in the balances of time deposits on the consolidated balance sheets. The deposit premium is amortized as a reduction in interest expense over the life of the acquired time deposits and the deposit discount is accreted as an increase in interest expense over the life of the acquired time deposits. The premium and discount on deposits will both be amortized and accreted over approximately ​ The following table provides changes in the net deposit premium and discounts for the periods ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, Dollars in Thousands 2021 2020 Balance at the beginning of the period ​ $ (23) ​ $ (31) Amortization, net ​ 14 ​ 8 Balance at the end of the period ​ $ (9) ​ $ (23) ​ ​ ​ ​ ​ ​ ​ ​ December 31, Dollars in Thousands ​ 2021 2022 ​ $ 6 2023 ​ ​ 2 2024 ​ ​ 1 ​ ​ $ 9 ​ The net effect of the amortization of premiums and accretion of discounts associated with the Company’s acquisition accounting adjustments to assets acquired and liabilities assumed had the following impact on the consolidated statement of income for the periods indicated below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2021 2020 Year Ended ​ Dollars in Thousands Adjustments to net income ​ ​ ​ ​ ​ ​ Loans (1) ​ $ 1,499 ​ $ 1,734 Time deposits (2) ​ (14) ​ (8) Core deposit intangible (3) ​ ​ (600) ​ ​ (713) Note Payable (4) ​ ​ (5) ​ ​ (6) Net impact to income before taxes ​ $ 880 ​ $ 1,007 ​ (1) Loan discount accretion is included in the "Loans, including fees" section of "Interest Income" in the Consolidated Statements of Income. (2) Time deposit discount accretion is included in the "Deposits" section of "Interest Expense" in the Consolidated Statements of Income. (3) Core deposit intangible premium amortization is included in the "Other Expenses” section of "Non-interest Expense" in the Consolidated Statements of Income. (4) Note payable discount accretion is included in the "Borrowings" section of "Interest Expense" in the Consolidated Statements of Income.

Parent Company Financial Inform

Parent Company Financial Information	12 Months Ended
	Dec. 31, 2021
Parent Company Financial Information
Parent Company Financial Information	Note 20. Parent Company Financial Information Presented below are comparative balance sheets of the parent company, Partners Bancorp, as of December 31, 2021 and 2020, and statements of income and cash flows for each of the years ended December 31, 2021 and 2020. BALANCE SHEETS December 31, 2021 and 2020 ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 ASSETS ​ ​ Cash ​ $ 14,686 ​ $ 17,579 Investment in subsidiaries, at equity ​ 147,378 ​ 141,979 Other assets ​ 2,276 ​ 2,000 Total assets ​ $ 164,340 ​ $ 161,558 LIABILITIES ​ ​ Subordinated notes payable, net ​ $ 22,168 ​ $ 24,101 Other liabilities ​ 804 ​ 762 Total liabilities ​ $ 22,972 ​ $ 24,863 STOCKHOLDERS' EQUITY ​ ​ Common stock, par value $.01, authorized 40,000,000 shares, issued outstanding ​ $ 179 ​ $ 178 Surplus ​ 88,390 ​ 87,200 Retained earnings ​ 51,305 ​ 45,673 Noncontrolling interest in consolidated subsidiaries ​ ​ 1,179 ​ ​ 1,346 Accumulated other comprehensive income, net of tax ​ 315 ​ 2,298 Total stockholders' equity ​ 141,368 ​ 136,695 Total liabilities and stockholders' equity ​ $ 164,340 ​ $ 161,558 ​ STATEMENTS OF INCOME Years Ended December 31, 2021 and 2020 ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Dividends from subsidiaries ​ $ 3,242 ​ $ 2,784 Income on deposit accounts ​ ​ 29 ​ ​ 5 Interest expense on borrowings ​ (1,464) ​ (1,009) Other expenses, net ​ (2,557) ​ (1,339) (Loss) income before taxes and equity in undistributed net income of subsidiaries ​ (750) ​ 441 Income tax benefits(1) ​ 615 ​ 566 Equity in undistributed net income of subsidiaries ​ 7,546 ​ 4,663 Net income ​ $ 7,411 ​ $ 5,670 (1) Benefits from filing consolidated Federal income tax return. STATEMENTS OF CASH FLOWS Years Ended December 31, 2021 and 2020 ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 CASH FLOWS FROM OPERATING ACTIVITIES: ​ ​ Net income ​ $ 7,411 ​ $ 5,670 Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ Equity in undistributed net income of subsidiaries ​ (7,546) ​ (4,663) Amortization ​ ​ 67 ​ ​ 29 Stock‑based compensation expense ​ 1,072 ​ 14 Changes in assets and liabilities: ​ ​ Increase in other assets ​ (278) ​ (327) Increase in other liabilities ​ 41 ​ 147 Net cash provided by operating activities ​ 767 ​ 870 CASH FLOWS FROM INVESTING ACTIVITIES: ​ ​ Downstream of capital to subsidiary ​ ​ — ​ ​ (3,000) Net cash used in investing activities ​ — ​ (3,000) CASH FLOWS FROM FINANCING ACTIVITIES: ​ ​ Dividends paid ​ (1,779) ​ (1,782) Proceeds from subordinated notes payable ​ — ​ 17,637 Decrease in subordinated notes payable ​ ​ (2,000) ​ ​ — Cash paid for stock repurchases ​ ​ (209) ​ ​ (445) Cash received for the exercise of warrants ​ ​ — ​ ​ 10 Cash received for the exercise of stock options ​ 328 ​ 184 Net cash (used in) provided by financing activities ​ (3,660) ​ 15,604 Net (decrease) increase in cash ​ (2,893) ​ 13,474 Cash, beginning of year ​ 17,579 ​ 4,105 Cash, end of year ​ $ 14,686 ​ $ 17,579 ​

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2021
Revenue Recognition
Revenue Recognition	Note 21. Revenue Recognition The Company follows ASU No. 2014-09 Revenue from Contracts with Customers (“Topic 606”) and all subsequent ASUs that modified Topic 606. Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and investment securities. Topic 606 is applicable to noninterest revenue streams such as deposit related fees, interchange fees and merchant income. However, the recognition of these revenue streams did not change significantly upon adoption of Topic 606. Substantially all of the Company’s revenue is generated from contracts with customers. Noninterest revenue streams in the scope of Topic 606 are discussed below. Service Charges on Deposit Accounts Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, check orders, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or at the end of the month through a direct charge to customers’ accounts. Other Noninterest Income Other noninterest income consists of: fees, exchange, other service charges, safety deposit box rental fees, and other miscellaneous revenue streams. Fees and other service charges are primarily comprised of debit and credit card income, ATM fees, merchant services income, and other service charges. Debit and credit card income is primarily comprised of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as Visa. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. Other service charges include revenue from processing wire transfers, bill pay service, cashier’s checks, and other services. The Company’s performance obligation for fees, exchange, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. Gain or loss on sale or disposal of fixed assets Gain or loss on sale of fixed assets is recorded when control of the property transfers to the buyer. Gain or loss on disposal of fixed assets is recorded when the asset is determined to no longer be in service. Gain or loss on sale of foreclosed properties Gain or loss on sale of foreclosed properties is recorded when control of the property transfers to the buyer, which generally occurs at the time of transfer of the deed. If the Company finances the sale of a foreclosed property to the buyer, we assess whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the foreclosed property is derecognized and the gain or loss on sale is recorded upon transfer of control of the property to the buyer.

Transaction with OceanFirst Fin

Transaction with OceanFirst Financial Corporation	12 Months Ended
	Dec. 31, 2021
Business Combinations
Transaction with OceanFirst Financial Corporation	Note 22. Transaction with OceanFirst Financial Corporation On November 4, 2021, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with OCFC and Coastal Merger Sub Corp., a Maryland corporation and a direct wholly owned subsidiary of OCFC (“Merger Sub”). Pursuant to the Agreement, Merger Sub will be merged with and into the Company, whereby the separate corporate existence of Merger Sub will cease and the Company will be the surviving corporation as a wholly owned direct subsidiary of OCFC (the “First-Step Merger”). Immediately thereafter, the Company will be merged with and into OCFC, whereby the separate corporate existence of the Company will cease and OCFC will be the surviving corporation in the merger (the “Second-Step Merger”, and together with the First-Step Merger, the “Integrated Mergers”). Immediately following the consummation of the Integrated Mergers, Delmarva will be merged with and into OceanFirst Bank N.A., the wholly owned national banking association subsidiary of OCFC (“OceanFirst Bank”), with OceanFirst Bank as the surviving bank (the “Delmarva Merger”). Immediately following the consummation of the Delmarva Merger, Partners will be merged with and into OceanFirst Bank, with OceanFirst Bank as the surviving bank (the “Partners Merger”). At the effective time of the First-Step Merger, each share of Company common stock that is issued and outstanding immediately prior to the effective time of the First-Step Merger, other than Exception Shares (as defined in the Agreement), will be converted into the right to receive either (a) 0.4512 shares of common stock, par value $0.01 per share, of OCFC or (b) $10.00, in each case, at the election of the holder of the Company’s common stock, subject to (x) a maximum of forty percent (40%) of the shares of the Company’s common stock being convertible into cash and (y) the allocation and proration provisions of the Agreement.

Nature of Business and Its Si_2

Nature of Business and Its Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Nature of Business and Its Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation: The consolidated financial statements include the accounts of the Company; its wholly owned subsidiaries, Delmarva and Partners, along with their consolidated subsidiaries: Delmarva Real Estate Holdings, LLC, a wholly owned subsidiary of Delmarva, which is a real estate holding company; Davie Circle, LLC, a wholly owned subsidiary of Delmarva, which is a real estate holding company; Delmarva BK Holdings, LLC, a wholly owned subsidiary of Delmarva, which is a real estate holding company; DHB Development, LLC, of which Delmarva holds a 40.55% interest, and is a real estate holding company; West Nithsdale Enterprises, LLC, of which Delmarva holds a 10% interest, and is a real estate holding company; FBW, LLC, of which Delmarva holds a 50% interest, and is a real estate holding company; Bear Holdings, Inc., a wholly owned subsidiary of Partners, and is a real estate holding company; Johnson Mortgage Company, LLC (“JMC”), of which Partners owns a 51% interest, and is a residential mortgage company; and 410 William Street, LLC, a wholly owned subsidiary of Partners, and which holds investment property. All significant intercompany accounts and transactions have been eliminated.
Use of Estimates	Use of Estimates: The preparation of consolidated financial statements in conformity with accounting principles generally accepted within the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Certain of the critical accounting estimates are more dependent on such judgment and in some cases may contribute to volatility in the Company’s reported financial performance should the assumptions and estimates used change over time due to changes in circumstances. Actual results could differ from those estimates. The more significant areas in which management of the Company applies critical assumptions and estimates that are most susceptible to change in the short term include the calculation of the allowance for loan losses, the valuation of impaired loans, and the unrealized gain or loss on investment securities available for sale.
Securities Available for Sale	Securities Available for Sale: Marketable debt securities not classified as held to maturity are classified as available for sale. Securities available for sale are acquired as part of the Subsidiaries' asset/liability management strategy and may be sold in response to changes in interest rates, loan demand, changes in prepayment risk, and other factors. Securities available for sale are carried at fair value as determined by quoted market prices. Unrealized gains or losses based on the difference between amortized cost and fair value are reported in other comprehensive income, net of deferred tax. Realized gains and losses, using the specific identification method, are included as a separate component of other income and, when applicable, are reported as a reclassification adjustment, net of tax, in other comprehensive income. Premiums and discounts are recognized in interest income using the interest method over the period to maturity. Additionally, declines in the fair value of individual investment securities below their amortized cost that are other than temporary are reflected as realized losses in the consolidated statements of income. Impa irment may result from credit deterioration of the issuer or collateral underlying the security. In performing an assessment of recoverability, all relevant information is considered, including the length of time and extent to which fair value has been less than the amortized cost basis, the cause of the price decline, credit performance of the issuer and underlying collateral, and recoveries or further declines in fair value subsequent to the balance sheet date. For debt securities, the Company measures and recognizes other-than-temporary impairment (“OTTI”) losses through earnings if (1) the Company has the intent to sell the security or (2) it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. In these circumstances, the impairment loss is equal to the full difference between the amortized cost basis and the fair value of the security. For securities that are considered other-than-temporarily-impaired that the Company has the intent and ability to hold in an unrealized loss position, the OTTI write-down is separated into an amount representing the credit loss, which is recognized in earnings, and the amount related to other factors, which is recognized as a component of other comprehensive income (“OCI”).
Restricted Stock, Equity Securities and Other Investment	Restricted Stock, Equity Securities and Other Investments: Federal Reserve Bank (“FRB”) stock, at cost, Federal Home Loan Bank (“FHLB”) stock, at cost, Atlantic Central Bankers Bank (“ACBB”) stock, at cost, and Community Bankers Bank (“CBB”) stock, at cost, are equity interests in the FRB, FHLB, ACBB, and CBB, respectively. These securities do not have a readily determinable fair value for purposes of ASC 320-10 Investments-Debts and Equity Securities Equity securities with readily determinable fair values are carried at fair value, with changes in fair value reported in net income. Any equity securities without readily determinable fair values are carried at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments. The entirety of any impairment on equity securities is recognized in earnings. Other investments includes an equity ownership of Solomon Hess SBA Loan Fund LLC which the value is adjusted for its prorata share of assets in the fund and investment in the stock of the FRB. Other investments also includes equity securities the Company holds with Community Capital Management in their Community Reinvestment Act (“CRA”) Qualified Investment Fund.
Bank Owned Life Insurance	Bank Owned Life Insurance: The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other changes or amounts due that are probable at settlement.
Loans and the Allowance for Credit Losses	Loans and the Allowance for Credit Losses: Loans are generally carried at the amount of unpaid principal, adjusted for unearned loan fees and costs, which are amortized over the term of the loan using the effective interest rate method. Interest on loans is accrued based on the principal amounts outstanding. It is the Subsidiaries' policy to discontinue the accrual of interest when a loan is specifically determined to be impaired or when principal or interest is delinquent for ninety days or more. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income. Interest income generally is not recognized on specific impaired loans unless the likelihood of further loss is remote. Cash collections on such loans are applied as reductions of the loan principal balance and no interest income is recognized on those loans until the principal balance has been collected. As a general rule, a non-accrual loan may be restored to accrual status when (1) none of its principal and interest is due and unpaid, and the Bank expects repayment of the remaining contractual principal and interest, or (2) when it otherwise becomes well secured and in the process of collection. Interest income on other nonaccrual loans is recognized only to the extent of interest payments received. The carrying value of impaired loans is based on the present value of the loan's expected future cash flows or, alternatively, the observable market price of the loan or the fair value of the collateral securing the loan. The allowance for credit losses is maintained at a level believed to be adequate by management to absorb probable losses inherent in the loan portfolio and is based on the size and current risk characteristics of the loan portfolio, the concentration of credits within each pool, the effects of any changes in lending policies, procedures, including underwriting standards and collections, charge off and recovery practices, the effects of changes in the experience, depth and ability of management, the quality of the Company’s loan review system and the degree of oversight by the Company’s Board of Directors, an assessment of individual problem loans and actual loss experience, the value of the underlying collateral, the condition of various market segments, both locally and nationally, and current economic events in specific industries and geographical areas, including unemployment levels, and other pertinent factors, including regulatory guidance and general economic conditions, along with external factors such as competition and the legal environment. Determination of the allowance is inherently subjective, as it requires significant estimates, including the amounts and timing on historical loss experience, and consideration of current economic trends, all of which may be susceptible to significant change. Loan losses are charged off against the allowance, while recoveries of amounts previously charged off are credited to the allowance. A provision for credit losses is charged to operations based on management's periodic evaluation of the factors previously mentioned, as well as other pertinent factors. Evaluations are conducted at least monthly and more often if deemed necessary. The allowance for credit losses typically consists of an allocated component and an unallocated component. The allocated component of the allowance for credit losses reflects expected losses resulting from analyses developed through specific credit allocations for individual loans and historical loss experience for each loan category. The specific credit allocations are based on regular analyses of all loans over a fixed-dollar amount where the internal credit rating is at or below a predetermined classification. The historical loan loss element is determined statistically using an informal loss migration analysis that examines loss experience and the related internal gradings of loans charged off over a current three year period. The loss migration analysis is performed quarterly and loss factors are updated regularly based on actual experience. The allocated component of the allowance for credit losses also includes consideration of concentrations and changes in portfolio mix and volume. Any unallocated portion of the allowance for credit losses reflects management's estimate of probable inherent but undetected losses within the loan portfolio due to uncertainties in economic conditions, delays in obtaining information, including unfavorable information about a borrower's financial condition, the difficulty in identifying triggering events that correlate perfectly to subsequent loss rates, and risk factors that have not yet manifested themselves in loss allocation factors. The historical losses used in the migration analysis may not be representative of actual unrealized losses inherent in the loan portfolio. It is management's intent to continually refine the methodology for the allowance for credit losses in an attempt to directly allocate potential losses in the loan portfolio under ASC Topic 310 and minimize the unallocated portion of the allowance for credit losses. Loan Charge-off Policies Loans are generally fully or partially charged down to the fair value of securing collateral when: ● management deems the asset to be uncollectible ● repayment is deemed to be made beyond the reasonable time frames ● the asset has been classified as a loss by internal or external review ● the borrower has filed bankruptcy and the loss becomes evident owing to a lack of assets Acquired Loans Loans acquired in connection with business combinations are recorded at their acquisition-date fair value with no carryover of related allowance for credit losses. Any allowance for credit losses on these pools of acquired loans reflect only losses incurred after the acquisition date (meaning the present value of all cash flows expected at the acquisition date that ultimately are not to be received). Determining the fair value of the acquired loans involves estimating the principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market rate of interest. Management considers a number of factors in evaluating the acquisition-date fair value including the remaining life of the acquired loans, delinquency status, estimated prepayments, payment options and other loan features, internal risk grade, estimated value of the underlying collateral and interest rate environment. Acquired loans that met the criteria for nonaccrual of interest prior to the acquisition date may be considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if we can reasonably estimate the timing and amount of the expected cash flows on such loans and if we expect to fully collect the new carrying value of the loans, including the impact of any accretable yield. Loans acquired with deteriorated credit quality are accounted for in accordance with ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality Under the ASC 310-30 model, the excess of cash flows expected to be collected at acquisition over recorded fair value is referred to as the accretable yield and is the interest component of expected cash flow. The accretable yield is recognized into income over the remaining life of the loan if the timing and/or amount of cash flows expected to be collected can be reasonable estimated (the accretion method). If the timing or amount of cash flows expected to be collected cannot be reasonably estimated, the cost recovery method of income recognition is used. The difference between the loan's total scheduled principal and interest payments over all cash flows expected to be collected at acquisition, considering the impact of prepayments, is referred to as the non-accretable difference. The non-accretable difference represents contractually required principal and interest payments which the Company does not expect to collect. Over the life of the loan, management continues to estimate cash flows expected to be collected. Decreases in expected cash flows are recognized as impairments through a charge to the provision for credit losses resulting in an increase in the allowance for credit losses. Subsequent improvements in expected cash flows result in first, reversal of existing valuation allowances recognized subsequent to acquisition, if any, and next, an increase in the amount of accretable yield to be subsequently recognized as interest income on a prospective basis over the loan's remaining life. Acquired loans that were not individually determined to be purchased with deteriorated credit quality are accounted for in accordance with ASC 310-20, Nonrefundable Fees and Other Costs Troubled Debt Restructurings A loan is accounted for and reported as a troubled debt restructuring (“TDR”) when, for economic or legal reasons, we grant a concession to a borrower experiencing financial difficulty that we would not otherwise consider. Management strives to identify borrowers in financial difficulty early and works with them to modify to more affordable terms before their loan reaches nonaccrual status. These modified terms may include rate reductions, principal forgiveness, payment forbearance and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. A restructuring that results in only an insignificant delay in payment is not considered a concession. A delay may be considered insignificant if the payments subject to the delay are insignificant relative to the unpaid principal or collateral value and the contractual amount due, or the delay in timing of the restructured payment period is insignificant relative to the frequency of the payments, the debt’s original contractual maturity or original expected duration. TDRs are designated as impaired loans because interest and principal payments will not be received in accordance with the original contract terms. TDRs that are performing and on accrual status as of the date of the modification remain on accrual status. TDRs that are nonperforming as of the date of modification generally remain as nonaccrual loans until the prospect of future payments in accordance with the modified loan agreement is reasonably assured, generally demonstrated when the borrower maintains compliance with the restructured terms for a predetermined period, normally at least six months. TDRs with temporary below-market concessions remain designated as a TDR loan and impaired regardless of the accrual or performance status until the loan is paid off. However, if the TDR loan has been modified in a subsequent restructure with market terms and the borrower is not currently experiencing financial difficulty, then the loan may be no longer designated as a TDR. The COVID-19 pandemic has caused a significant disruption in economic activity worldwide, including in market areas served by the Company. Estimates for the allowance for credit losses at December 31, 2021 take into consideration the possibility of losses related to the COVID-19 pandemic. The Company expects that the COVID-19 pandemic will continue to have an effect on its results of operations. It is unknown how long these conditions will last and what the ultimate financial impact will be to the Company. Depending on the severity and duration of the economic consequences of the COVID-19 pandemic, the Company’s goodwill may become impaired. ​ The Company accommodated certain borrowers affected by the COVID-19 pandemic by granting short-term payment deferrals or periods of interest-only payments. There were no loans that remained in deferral as of December 31, 2021. At December 31, 2020, there were loans with an aggregate balance of $16.2 million in deferral. Generally, a short-term payment deferral does not result in a loan modification being classified as a TDR. Additionally, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), enacted on March 27, 2020, and as subsequently supplemented, provided that certain loan modifications that were (1) related to the COVID-19 pandemic and (2) for loans that were not more than 30 days past due as of December 31, 2019 are not required to be designated as TDRs. ​
Loans Held for Sale	Loans Held for Sale: These loans consist of loans made through Partners’ majority owned subsidiary JMC. JMC is engaged in the mortgage brokerage business in which JMC originates, closes, and immediately sells mortgage loans and related servicing rights to permanent investors in the secondary market. JMC has written commitments from several permanent investors (large financial institutions) and only closes loans that meet the lending requirements of the permanent investors. Loans are made in connection with the purchase or refinancing of existing and new one-to-four family residences primarily in southeastern and northern Virginia. Loans are initially funded primarily by JMC’s lines of credit. With the concurrent sale and delivery of mortgage loans to the permanent investors, JMC records receivables for mortgage loans sold and recognizes the related gains and losses on such sales. The receivables for mortgage loans sold are usually satisfied within 30 days of sale, whereupon the related borrowings on the lines of credit are repaid. Because of the short holding period, these loans are carried at the lower of cost or market and no market adjustments were deemed necessary in 2021 or 2020. JMC’s agreements with its permanent investors include provisions that could require JMC to repurchase loans under certain circumstances, and also provide for the assessment of fees if loans go into default or are refinanced within specified periods of time. JMC has never been required to repurchase a loan and no indemnification reserve has been recorded as of December 31, 2021 or 2020. Management does not believe that a provision for early default or refinancing cost is necessary at December 31, 2021 or 2020. JMC enters into commitments with its customers to originate loans where the interest rate on the loans is determined (locked) prior to funding. While this subjects JMC to the risk interest rates may change from the commitment date to the funding date, JMC simultaneously enters into financial agreements (best efforts forward sales commitments) with its permanent investors giving JMC the right to deliver (put) loans to the permanent investors at specified yields, thus enabling JMC to manage its exposure to changes in interest rates such that JMC is not subject to fluctuations in fair values of these agreements due to changes in interest rates. However, a default by a permanent investor required to purchase loans under such an agreement would expose JMC to potential fluctuation in selling prices of loans due to changes in interest rate. The fair value of rate lock commitments and forward sales commitments was considered immaterial at December 31, 2021 and 2020 and have not been recorded. Gains and losses on the sale of mortgages as well as origination fees, brokerage fees, interest rate lock-in fees and other fees paid by mortgagors are included in the “Mortgage banking income, net” line item on the Company’s Consolidated Statements of Income for the years ended December 31, 2021 and 2020.
Other Real Estate Owned ("OREO"):	Other Real Estate Owned (OREO): OREO comprises properties acquired in partial or total satisfaction of problem loans. The properties are recorded at the lower of cost or fair value, net of estimated selling costs, at the date acquired creating a new cost basis. Losses arising at the time of acquisition of such properties are charged against the allowance for credit losses. Subsequent write-downs that may be required, and expenses of operation and gains and losses realized from the sale of OREO are included in other expenses. At December 31, 2021 there were two properties with a combined value of $837 thousand included in OREO, and at December 31, 2020 there were five properties with a combined value of $2.7 million. At December 31, 2021 and 2020 there were no residential real estate properties included in OREO balances.
Bank Premises and Equipment and Depreciation	Premises and Equipment and Depreciation: Premises and equipment are stated at cost less accumulated depreciation. Land is carried at cost. The provision for depreciation is computed using primarily the straight-line method over the estimated useful lives of the assets, ranging from two three
Intangible Assets and Amortization	Intangible Assets and Amortization: During the fourth quarter of 2019 the Company acquired Partners and during the first quarter of 2018, the Company acquired Liberty. ASC 350, Intangibles-Goodwill and Other
Goodwill	Goodwill: The Company’s goodwill was recognized in connection with the acquisitions of Partners and Liberty. The Company reviews the carrying value of goodwill at least annually during the fourth quarter or more frequently if certain impairment indicators exist. In testing goodwill for impairment, the Company may first consider qualitative factors to determine whether the existence of events or circumstances lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events and circumstances, we conclude that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then no further testing is required and the goodwill of the reporting unit is not impaired. If the Company elects to bypass the qualitative assessment or if we conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then the fair value of the reporting unit is compared with its carrying amount to determine whether an impairment exists. No impairment of goodwill was required for the years ended December 31, 2021 and 2020 based management’s assessment.
Long Lived Assets	Long-Lived Assets: The carrying value of long-lived assets and certain identifiable intangibles is reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable as prescribed by ASC 360-10 Property, Plant, and Equipment
Income Taxes	Income Taxes: The Company and its subsidiaries file a consolidated Federal tax return. The provision for Federal and state income taxes is based upon the consolidated results of operations, adjusted for tax-exempt income. Deferred income taxes are provided under ASC 740-10 Income Taxes Temporary differences, which give rise to deferred tax assets relate principally to the allowance for credit losses, lease liabilities, fair value adjustments related to business combinations, accumulated amortization of intangibles, impairment loss on securities, net operating loss carryforward, net losses on OREO, and unrealized depreciation on securities available for sale. Temporary differences which give rise to deferred tax liabilities relate to accumulated depreciation, deferred gains, right of use assets, accumulated amortization on core deposit intangibles and accumulated accretion of discounts on debt securities. The benefit of an uncertain tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination by the applicable taxing authority, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. Interest and penalties associated with unrecognized tax benefits are recognized as a component of income tax expense.
Credit Risk	Credit Risk: The Company has deposits in other financial institutions in excess of amounts insured by the FDIC. The Subsidiaries have not experienced any losses in such accounts and management does not believe it is exposed to any significant credit risks with respect to such deposits.
Cash and Cash Equivalents	Cash and Cash Equivalents: The Company has included cash and due from banks, interest bearing deposits in other financial institutions, and Federal funds sold as cash and cash equivalents for purposes of reporting cash flows. Cash and cash equivalents were $338.8 million and $282.6 million at December 31, 2021 and 2020, respectively.
Accounting for Stock Based Compensation	Accounting for Stock Based Compensation: The Company follows ASC 718-10, Compensation—Stock Compensation
Earnings Per Share	Earnings Per Share Basic earnings per common share are determined by dividing net income adjusted for preferred stock dividends declared and/or accumulated and accretion of warrants by the weighted average number of shares outstanding for each year, giving retroactive effect to stock splits and dividends. Weighted average shares outstanding were
Transfers of Financial Assets	Transfers of Financial Assets Transfers of loans are accounted for as sales when control over the loans has been surrendered. Control over transferred loans is deemed to be surrendered when (1) the loans have been isolated from the Company (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred loans and (3) the Company does not maintain effective control over the transferred loans through an agreement to repurchase them before their maturity.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments – Credit Losses” (“Topic 326”): Measurement of Credit Losses on Financial Instruments.” The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The FASB has issued multiple updates to ASU 2016-13 as codified in Topic 326, including ASU’s 2019-04, 2019-05, 2019-10, 2019-11, 2020-02, and 2020-03. These ASU’s have provided for various minor technical corrections and improvements to the codification as well as other transition matters. Smaller reporting companies who file with the U.S. Securities and Exchange Commission (“SEC”) and all other entities who do not file with the SEC are required to apply the guidance for fiscal years, and interim periods within those years, beginning after December 15, 2022. The Company is currently evaluating the potential impact of ASU 2016-13 on our consolidated financial statements. We are currently working through our implementation plan which includes assessment and documentation of processes, internal controls and data sources; model development and documentation; and systems configuration, among other things. We are also in the process of working with our third-party vendor to assist us in the application of the ASU 2016-13. The adoption of ASU 2016-13 could result in an increase in the allowance for credit losses as a result of changing from an “incurred loss” model, which encompasses allowances for current known and inherent losses within the portfolio, to an “expected loss” model, which encompasses allowances for losses expected to be incurred over the life of the portfolio. Furthermore, ASU 2016-13 will necessitate that we establish an allowance for expected credit losses for certain debt securities and other financial assets. While we are currently unable to reasonably estimate the impact of adopting ASU 2016-13, we expect that the impact of adoption will be significantly influenced by the composition, characteristics and quality of our loan and securities portfolios as well as the prevailing economic conditions and forecasts as of the adoption date. Effective November 25, 2019, the SEC adopted Staff Accounting Bulletin (SAB) 119. SAB 119 updated portions of SEC interpretative guidance to align with ASC 326. It covers topics including (1) measuring current expected credit losses; (2) development, governance, and documentation of a systematic methodology; (3) documenting the results of a systematic methodology; and (4) validating a systematic methodology. ​ In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740) – Simplifying the Accounting for Income Taxes” ​ In January 2020, the FASB issued ASU No. 2020-01, “Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures” Derivatives and Hedging” ​ In March 2020, the FASB issued ASU No. 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” ASU No. 2021-01 “Reference Rate Reform (Topic 848): Scope” . ​ In August 2020, ASU No. 2020-06 “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity ​ In October 2020, the FASB issued ASU No. 2020-08, “Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable fees and Other Costs” ​
Financial Statement Presentation	Financial Statement Presentation Certain amounts in the prior years' financial statements have been reclassified to conform to the current year's presentation.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2021
Investment Securities
Schedule of investment securities available for sale	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Dollars in Thousands ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value Obligations of U.S. Government agencies and corporations ​ $ 6,547 ​ $ 46 ​ $ 142 ​ $ 6,451 Obligations of States and political subdivisions ​ 29,792 ​ 1,397 ​ 63 ​ 31,126 Mortgage-backed securities ​ 83,213 ​ 279 ​ 1,089 ​ 82,403 Subordinated debt investments ​ ​ 1,990 ​ ​ 51 ​ ​ — ​ ​ 2,041 ​ ​ $ 121,542 ​ $ 1,773 ​ $ 1,294 ​ $ 122,021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Dollars in Thousands ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Cost Gains Losses Value Obligations of U.S. Government agencies and corporations ​ $ 6,758 ​ $ 137 ​ $ 12 ​ $ 6,883 Obligations of States and political subdivisions ​ 36,245 ​ 1,878 ​ — ​ 38,123 Mortgage-backed securities ​ 74,857 ​ 1,127 ​ 108 ​ 75,876 Subordinated debt investments ​ ​ 3,985 ​ ​ 62 ​ ​ 4 ​ ​ 4,043 ​ ​ $ 121,845 ​ $ 3,204 ​ $ 124 ​ $ 124,925
Schedule of gross unrealized losses and fair values, aggregated by investment security category and length of time that individual securities have been in a continuous unrealized loss position	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Dollars in Thousands ​ ​ Less than 12 months ​ 12 months or more ​ Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Loss Value Loss Value Loss Obligations of U.S. Government agencies and corporations ​ $ 1,289 ​ $ 35 ​ $ 2,397 ​ $ 107 ​ $ 3,686 ​ $ 142 Obligations of States and political subdivisions ​ 2,473 ​ 63 ​ — ​ — ​ 2,473 ​ 63 Mortgage-backed securities ​ 59,236 ​ 744 ​ 11,349 ​ 345 ​ 70,585 ​ 1,089 Total investment securities with unrealized losses ​ $ 62,998 ​ $ 842 ​ $ 13,746 ​ $ 452 ​ $ 76,744 ​ $ 1,294 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Dollars in Thousands ​ ​ Less than 12 months ​ 12 months or more ​ Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Value Loss Value Loss Value Loss Obligations of U.S. Government agencies and corporations ​ $ 2,494 ​ $ 12 ​ $ — ​ $ — ​ $ 2,494 ​ $ 12 Mortgage-backed securities ​ 18,525 ​ 108 ​ — ​ — ​ 18,525 ​ 108 Subordinated debt investments ​ 996 ​ 4 ​ — ​ — ​ 996 ​ 4 Total investment securities with unrealized losses ​ $ 22,015 ​ $ 124 ​ $ — ​ $ — ​ $ 22,015 ​ $ 124
Schedule of maturities, calls, or repricing of securities available for sale	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ Securities Available for Sale ​ ​ Dollars in Thousands ​ ​ ​ Amortized ​ ​ Fair ​ ​ Cost ​ Value Due in one year or less ​ $ — ​ $ — Due after one year through five years ​ 2,716 ​ 2,875 Due after five years through ten years ​ 16,953 ​ 17,422 Due after ten years or more ​ 18,660 ​ 19,321 Mortgage-backed securities, due in monthly installments ​ 83,213 ​ 82,403 ​ ​ $ 121,542 ​ $ 122,021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Securities Available for Sale ​ ​ Dollars in Thousands ​ ​ Amortized ​ Fair ​ Cost Value Due in one year or less ​ $ 2,035 $ 2,037 Due after one year through five years ​ 4,156 ​ 4,389 Due after five years through ten years ​ 19,995 ​ 20,748 Due after ten years or more ​ 20,802 ​ 21,875 Mortgage‑backed securities, due in monthly installments ​ 74,857 ​ 75,876 ​ ​ $ 121,845 ​ $ 124,925 ​ ​
Schedule of investment securities pledged as collateral	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Amortized cost ​ $ 11,110 ​ $ 8,938 Fair value ​ $ 11,199 ​ $ 9,304

Loans, Allowance for Credit L_2

Loans, Allowance for Credit Losses and Impaired Loans (Tables)	12 Months Ended
	Dec. 31, 2021
Loans, Allowance for Credit Losses and Impaired Loans
Schedule of major categories of loans	​ ​ ​ ​ ​ ​ ​ ​ (Dollars in thousands) December 31, 2021 December 31, 2020 Originated Loans ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ Construction and land development ​ $ 107,478 ​ $ 71,361 Residential real estate ​ ​ 159,701 ​ ​ 128,285 Nonresidential ​ ​ 513,873 ​ ​ 394,539 Home equity loans ​ ​ 19,246 ​ ​ 18,526 Commercial ​ ​ 109,470 ​ ​ 115,387 Consumer and other loans ​ 3,546 ​ 2,924 ​ ​ 913,314 ​ 731,022 Acquired Loans ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ Construction and land development ​ $ 505 ​ $ 3,345 Residential real estate ​ 41,529 ​ 71,064 Nonresidential ​ ​ 128,344 ​ ​ 175,206 Home equity loans ​ ​ 11,149 ​ ​ 15,700 Commercial ​ ​ 21,438 ​ ​ 37,411 Consumer and other loans ​ 916 ​ 1,757 ​ ​ ​ 203,881 ​ ​ 304,483 Total Loans ​ ​ Real Estate Mortgage ​ ​ ​ ​ Construction and land development ​ $ 107,983 ​ $ 74,706 Residential real estate ​ ​ 201,230 ​ ​ 199,349 Nonresidential ​ ​ 642,217 ​ ​ 569,745 Home equity loans ​ ​ 30,395 ​ ​ 34,226 Commercial ​ ​ 130,908 ​ ​ 152,798 Consumer and other loans ​ 4,462 ​ 4,681 ​ ​ 1,117,195 ​ 1,035,505 Less: Allowance for credit losses ​ (14,656) ​ (13,203) ​ ​ $ 1,102,539 ​ $ 1,022,302
Schedule of allowance for credit losses by loan category	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ Dollars in Thousands Development Real Estate Nonresidential Home Equity Commercial and Other Unallocated Total Balance at December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchased credit impaired loans ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance in allowance ​ $ — ​ $ 9 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 9 Related loan balance ​ 46 ​ 1,633 ​ 376 ​ — ​ 126 ​ — ​ — ​ 2,181 Individually evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance in allowance ​ $ — ​ $ 3 ​ $ 1,000 ​ $ — ​ $ 452 ​ $ — ​ $ — ​ $ 1,455 Related loan balance ​ 598 ​ 2,082 ​ ​ 9,901 ​ 53 ​ 584 ​ — ​ — ​ 13,218 Collectively evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ ​ Balance in allowance ​ $ 1,143 ​ $ 1,881 ​ $ 8,239 ​ $ 212 ​ $ 1,433 ​ $ 36 ​ $ 248 ​ $ 13,192 Related loan balance ​ 107,339 ​ 197,515 ​ 631,940 ​ 30,342 ​ 130,198 ​ 4,462 ​ — ​ 1,101,796 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ Dollars in Thousands Development Real Estate Nonresidential Home Equity Commercial and Other Unallocated Total Balance at December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchased credit impaired loans ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance in allowance ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 41 ​ $ — ​ $ — ​ $ 41 Related loan balance ​ 44 ​ 1,839 ​ 2,237 ​ — ​ 361 ​ — ​ — ​ 4,481 Individually evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance in allowance ​ $ — ​ $ 156 ​ $ 17 ​ $ — ​ $ 500 ​ $ — ​ $ — ​ $ 673 Related loan balance ​ 175 ​ 2,947 ​ 6,990 ​ — ​ 489 ​ — ​ — ​ 10,601 Collectively evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ ​ Balance in allowance ​ $ 903 ​ $ 2,195 ​ $ 7,567 ​ $ 271 ​ $ 1,402 ​ $ 37 ​ $ 114 ​ $ 12,489 Related loan balance ​ 74,487 ​ 194,563 ​ 560,518 ​ 34,226 ​ 151,948 ​ 4,681 ​ — ​ 1,020,423 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ Dollars in Thousands Development Real Estate Nonresidential Home Equity Commercial and Other Unallocated Total Year Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 903 ​ $ 2,351 ​ $ 7,584 ​ $ 271 ​ $ 1,943 ​ $ 37 ​ $ 114 ​ $ 13,203 Charge-offs ​ — ​ ​ (39) ​ ​ (692) ​ ​ (7) ​ (184) ​ (66) ​ — ​ (988) Recoveries ​ 1 ​ ​ 23 ​ ​ 53 ​ ​ 3 ​ 16 ​ 22 ​ — ​ 118 Provision/(recovery) ​ 239 ​ ​ (442) ​ ​ 2,294 ​ ​ (55) ​ 110 ​ 43 ​ 134 ​ 2,323 Ending Balance ​ $ 1,143 ​ $ 1,893 ​ $ 9,239 ​ $ 212 ​ $ 1,885 ​ $ 36 ​ $ 248 ​ $ 14,656 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer ​ ​ ​ ​ ​ ​ Dollars in Thousands Development Real Estate Nonresidential Home Equity Commercial and Other Unallocated Total Year Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning Balance ​ $ 602 ​ $ 1,380 ​ $ 4,074 ​ $ 142 ​ $ 826 ​ $ 14 ​ $ 266 ​ $ 7,304 Charge-offs ​ — ​ ​ (112) ​ ​ (575) ​ ​ (13) ​ (918) ​ (120) ​ — ​ (1,738) Recoveries ​ 1 ​ ​ 70 ​ ​ 512 ​ ​ 10 ​ 109 ​ 41 ​ — ​ 743 Provision ​ 300 ​ ​ 1,013 ​ ​ 3,573 ​ ​ 132 ​ 1,926 ​ 102 ​ (152) ​ 6,894 Ending Balance ​ $ 903 ​ $ 2,351 ​ $ 7,584 ​ $ 271 ​ $ 1,943 ​ $ 37 ​ $ 114 ​ $ 13,203
Schedule of loans by risk rating	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Secured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer & ​ ​ ​ December 31, 2021 Development ​ Real Estate Nonresidential Home Equity Commercial Other Total ​ ​ Dollars in Thousands Pass ​ $ 107,339 ​ $ 199,037 ​ $ 622,648 ​ $ 30,159 ​ $ 128,949 ​ $ 3,960 ​ $ 1,092,092 Marginal ​ 46 ​ 507 ​ 12,819 ​ 183 ​ 1,364 ​ 502 ​ 15,421 Substandard ​ 598 ​ 1,686 ​ 6,750 ​ 53 ​ 595 ​ — ​ 9,682 TOTAL ​ $ 107,983 ​ $ 201,230 ​ $ 642,217 ​ $ 30,395 ​ $ 130,908 ​ $ 4,462 ​ $ 1,117,195 Non-Accrual ​ $ 598 ​ $ 1,293 ​ $ 6,486 ​ $ — ​ $ 584 ​ $ — ​ $ 8,961 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Secured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer & ​ ​ ​ December 31, 2020 Development ​ Real Estate Nonresidential Home Equity Commercial Other Total ​ ​ Dollars in Thousands Pass ​ $ 74,487 ​ $ 195,599 ​ $ 552,758 ​ $ 33,479 ​ $ 151,779 ​ $ 4,681 ​ $ 1,012,783 Marginal ​ 44 ​ 575 ​ 12,542 ​ 693 ​ 420 ​ — ​ 14,274 Substandard ​ 175 ​ 3,175 ​ 4,445 ​ 54 ​ 599 ​ — ​ 8,448 TOTAL ​ $ 74,706 ​ $ 199,349 ​ $ 569,745 ​ $ 34,226 ​ $ 152,798 ​ $ 4,681 ​ $ 1,035,505 Non-Accrual ​ $ 175 ​ $ 2,022 ​ $ 2,170 ​ $ 54 ​ $ 489 ​ $ — ​ $ 4,910
Schedule of loans modified under the terms of a TDR by class	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Secured ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction & ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Land ​ Residential ​ ​ ​ ​ ​ ​ ​ Consumer & ​ ​ ​ ​ Development ​ Real Estate Nonresidential Home Equity Commercial Other Total ​ ​ Dollars in Thousands Year ended December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of loans modified during the period ​ ​ — ​ ​ — ​ ​ 2 ​ ​ — ​ ​ — ​ ​ — ​ ​ 2 Pre-modification recorded balance ​ $ — ​ $ — ​ $ 3,185 ​ $ — ​ $ — ​ $ — ​ $ 3,185 Post- modification recorded balance ​ — ​ — ​ 2,905 ​ — ​ — ​ — ​ 2,905 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of loans modified during the period ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 1 ​ ​ — ​ ​ 1 Pre-modification recorded balance ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,196 ​ $ — ​ $ 1,196 Post- modification recorded balance ​ — ​ — ​ — ​ — ​ 489 ​ — ​ 489
Schedule of aging analysis of the recorded investment of past due financing receivables	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment ​ ​ ​ ​ ​ ​ ​ ​ Greater than ​ ​ ​ ​ ​ ​ ​ Total ​ >90 Days ​ ​ 30 - 59 Days ​ 60 - 89 Days ​ 90 Days ​ Total ​ Current ​ Financing ​ Past Due At December 31, 2021 Past Due* Past Due Past Due** Past Due Balance*** Receivables and Accruing ​ ​ Dollars in Thousands Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ $ — ​ $ — ​ $ 598 ​ $ 598 ​ $ 107,385 ​ $ 107,983 ​ $ — Residential real estate ​ ​ 658 ​ ​ 245 ​ ​ 361 ​ ​ 1,264 ​ ​ 199,966 ​ ​ 201,230 ​ ​ — Nonresidential ​ ​ — ​ ​ — ​ ​ 2,915 ​ ​ 2,915 ​ ​ 639,302 ​ ​ 642,217 ​ ​ — Home equity loans ​ ​ 160 ​ ​ — ​ ​ — ​ ​ 160 ​ ​ 30,235 ​ ​ 30,395 ​ ​ — Commercial ​ ​ 46 ​ ​ — ​ ​ 77 ​ ​ 123 ​ ​ 130,785 ​ ​ 130,908 ​ ​ — Consumer and other loans ​ 15 ​ — ​ — ​ 15 ​ 4,447 ​ 4,462 ​ — TOTAL ​ $ 879 ​ $ 245 ​ $ 3,951 ​ $ 5,075 ​ $ 1,112,120 ​ $ 1,117,195 ​ $ — * Includes $55 thousand of non-accrual loans. ** Includes *** Includes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Recorded ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment ​ ​ ​ ​ ​ ​ ​ ​ Greater than ​ ​ ​ ​ ​ ​ ​ Total ​ >90 Days ​ ​ 30 - 59 Days ​ 60 - 89 Days ​ 90 Days ​ Total ​ Current ​ Financing ​ Past Due At December 31, 2020 Past Due* Past Due** Past Due*** Past Due Balance**** Receivables and Accruing ​ ​ Dollars in Thousands Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ $ 642 ​ $ 66 ​ $ 175 ​ $ 883 ​ $ 73,823 ​ $ 74,706 ​ $ — Residential real estate ​ ​ 2,520 ​ ​ 244 ​ ​ 679 ​ ​ 3,443 ​ ​ 195,906 ​ ​ 199,349 ​ ​ — Nonresidential ​ ​ 2,552 ​ ​ 1,240 ​ ​ 2,377 ​ ​ 6,169 ​ ​ 563,576 ​ ​ 569,745 ​ ​ — Home equity loans ​ ​ 80 ​ ​ — ​ ​ 54 ​ ​ 134 ​ ​ 34,092 ​ ​ 34,226 ​ ​ — Commercial ​ ​ 86 ​ ​ 169 ​ ​ 489 ​ ​ 744 ​ ​ 152,054 ​ ​ 152,798 ​ ​ — Consumer and other loans ​ 7 ​ — ​ 2 ​ 9 ​ 4,672 ​ 4,681 ​ 2 TOTAL ​ $ 5,887 ​ $ 1,719 ​ $ 3,776 ​ $ 11,382 ​ $ 1,024,123 ​ $ 1,035,505 ​ $ 2 * Includes $683 thousand of non-accrual loans. ** Includes *** Includes $3.5 million of non-accrual loans. **** Includes $458 thousand of non-accrual loans.
Schedule of impaired loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid ​ Interest ​ ​ ​ ​ Average ​ ​ Recorded ​ Principal ​ Income ​ Specific ​ Recorded December 31, 2021 Investment Balance Recognized Reserve Investment ​ ​ Dollars in Thousands Impaired loans with specific reserves: ​ ​ ​ ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Residential real estate ​ ​ 426 ​ ​ 426 ​ ​ 22 ​ ​ 3 ​ ​ 433 Nonresidential ​ ​ 6,437 ​ ​ 6,559 ​ ​ 369 ​ ​ 1,000 ​ ​ 6,528 Home equity loans ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ 507 ​ ​ 517 ​ ​ 119 ​ ​ 452 ​ ​ 583 Consumer and other loans ​ — ​ — ​ — ​ — ​ — Total impaired loans with specific reserves ​ $ 7,370 ​ $ 7,502 ​ $ 510 ​ $ 1,455 ​ $ 7,544 Impaired loans with no specific reserve: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ $ 598 ​ $ 598 ​ $ 13 ​ $ — ​ $ 599 Residential real estate ​ ​ 1,656 ​ ​ 1,687 ​ ​ 26 ​ ​ — ​ ​ 1,698 Nonresidential ​ ​ 3,464 ​ ​ 3,462 ​ ​ 344 ​ ​ — ​ ​ 3,510 Home equity loans ​ ​ 53 ​ ​ 53 ​ ​ 1 ​ ​ — ​ ​ 53 Commercial ​ ​ 77 ​ ​ 154 ​ ​ 2 ​ ​ — ​ ​ 109 Consumer and other loans ​ — ​ — ​ — ​ — ​ — Total impaired loans with no specific reserve ​ $ 5,848 ​ $ 5,954 ​ $ 386 ​ $ — ​ $ 5,969 TOTAL ​ $ 13,218 ​ $ 13,456 ​ $ 896 ​ $ 1,455 ​ $ 13,513 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid ​ Interest ​ ​ ​ ​ Average ​ ​ Recorded ​ Principal ​ Income ​ Specific ​ Recorded December 31, 2020 Investment Balance Recognized Reserve Investment ​ ​ Dollars in Thousands Impaired loans with specific reserves: ​ ​ ​ ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Residential real estate ​ ​ 614 ​ ​ 614 ​ ​ — ​ ​ 156 ​ ​ 671 Nonresidential ​ ​ 2,151 ​ ​ 2,151 ​ ​ 259 ​ ​ 17 ​ ​ 2,304 Home equity loans ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ 489 ​ ​ 1,196 ​ ​ 11 ​ ​ 500 ​ ​ 881 Consumer and other loans ​ — ​ — ​ — ​ — ​ — Total impaired loans with specific reserves ​ $ 3,254 ​ $ 3,961 ​ $ 270 ​ $ 673 ​ $ 3,856 Impaired loans with no specific reserve: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Real Estate Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction and land development ​ $ 175 ​ $ 175 ​ $ — ​ $ — ​ $ 176 Residential real estate ​ ​ 2,333 ​ ​ 2,425 ​ ​ 107 ​ ​ — ​ ​ 2,365 Nonresidential ​ ​ 4,839 ​ ​ 5,260 ​ ​ 174 ​ ​ — ​ ​ 5,944 Home equity loans ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Consumer and other loans ​ — ​ — ​ — ​ — ​ — Total impaired loans with no specific reserve ​ $ 7,347 ​ $ 7,860 ​ $ 281 ​ $ — ​ $ 8,485 TOTAL ​ $ 10,601 ​ $ 11,821 ​ $ 551 ​ $ 673 ​ $ 12,341
Schedule of outstanding balance and carrying amount of acquired loans	​ ​ ​ ​ ​ ​ ​ ​ Dollars in Thousands December 31, 2021 December 31, 2020 Accountable for under ASC 310-30 (PCI loans) ​ ​ Outstanding balance ​ $ 2,613 ​ $ 5,125 Carrying amount ​ 2,181 ​ 4,481 Accountable for under ASC 310-20 (non-PCI loans) ​ ​ ​ ​ Outstanding balance ​ $ 203,596 ​ $ 303,363 Carrying amount ​ 201,700 ​ 300,002 Total acquired loans ​ ​ ​ ​ Outstanding balance ​ $ 206,209 ​ $ 308,488 Carrying amount ​ 203,881 ​ 304,483
Schedule of changes in accretable yield of acquired loans	​ ​ ​ ​ ​ ​ ​ ​ Dollars in Thousands December 31, 2021 December 31, 2020 Balance at beginning of period ​ $ 3,361 ​ $ 5,081 Acquisitions ​ — ​ (1) Accretion ​ (1,464) ​ (1,718) Other changes, net ​ ​ (1) ​ ​ (1) Balance at end of period ​ $ 1,896 ​ $ 3,361

Premises, Equipment and Depre_2

Premises, Equipment and Depreciation (Tables)	12 Months Ended
	Dec. 31, 2021
Premises, Equipment and Depreciation
Schedule of premises and equipment, net	​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Land ​ $ 3,022 ​ $ 3,022 Buildings and improvements ​ 13,995 ​ 13,413 Furniture and equipment ​ 16,136 ​ 14,354 Total premises and equipment ​ 33,153 ​ 30,789 Less: accumulated depreciation ​ 16,978 ​ 15,350 Net premises and equipment ​ $ 16,175 ​ $ 15,439

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Taxes
Summary of components of income tax expense	​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Current ​ ​ Federal ​ $ 1,520 ​ $ 1,941 State ​ 432 ​ 870 Total current ​ 1,952 ​ 2,811 Deferred income tax benefits (liabilities): ​ ​ Federal ​ 77 ​ (708) State ​ 218 ​ (380) Total deferred ​ 295 ​ (1,088) Income tax expense ​ $ 2,247 ​ $ 1,723
Summary of reconciliation of tax computed at the Federal statutory income tax rate	​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Tax at Federal statutory income tax rate ​ $ 2,129 ​ $ 1,690 Tax effect of: ​ ​ Tax exempt income ​ (323) ​ (259) Other ​ 29 ​ (95) Noncontrolling interest ​ ​ (102) ​ ​ — State income taxes, net of Federal tax benefit ​ 514 ​ 387 Income tax expense ​ $ 2,247 ​ $ 1,723
Summary of income taxes included in the balance sheets	​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Deferred income tax assets: ​ ​ Allowance for credit losses, unfunded commitments, and nonaccrual interest ​ $ 3,970 ​ $ 3,530 Net operating loss carryforward ​ 632 ​ 374 Accumulated amortization on intangibles ​ 13 ​ 21 Lease liability ​ ​ 2,061 ​ ​ 1,633 Net losses on other real estate owned ​ 549 ​ 1,134 Stock option expense ​ 23 ​ 25 Discounts on acquired loans ​ 522 ​ 1,060 Merger costs ​ ​ 254 ​ ​ — Realized gain or loss on investments ​ ​ 21 ​ ​ 6 Other fair value adjustments ​ ​ 24 ​ ​ 28 Other ​ ​ 53 ​ ​ 58 ​ ​ ​ 8,122 ​ ​ 7,869 Valuation allowance ​ (632) ​ (374) ​ ​ 7,490 ​ 7,495 Deferred tax liabilities: ​ ​ Accumulated depreciation ​ 117 ​ 77 Accumulated amortization on core deposit intangible ​ 489 ​ 650 Deferred gain ​ 132 ​ 136 Net unrealized gain on securities available for sale ​ ​ 165 ​ ​ 780 Right of use assets ​ ​ 1,872 ​ ​ 1,457 ​ ​ 2,775 ​ 3,100 Net deferred income tax asset ​ $ 4,715 ​ $ 4,395

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2021
Deposits
Schedule of time deposits and their remaining maturities	Time deposits and their remaining maturities at December 31, 2021 are as follows (dollars in thousands): ​ ​ ​ ​ ​ 2022 $ 240,936 2023 ​ 74,459 2024 ​ 28,873 2025 ​ 17,186 2026 ​ 17,792 Thereafter ​ 10 Total time deposits ​ $ 379,256 ​
Summary of interest expense on deposits	​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 NOW ​ $ 441 ​ $ 407 Money market ​ 626 ​ 849 Savings ​ 201 ​ 187 Time, $100,000 or more ​ 3,565 ​ 4,974 Other time ​ 1,843 ​ 3,010 ​ ​ $ 6,676 ​ $ 9,427

Other Income (Tables)

Other Income (Tables)	12 Months Ended
	Dec. 31, 2021
Other Income
Summary of other income	​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Bank owned life insurance ​ $ 413 ​ $ 264 Safe deposit box rentals ​ 63 ​ 56 Mortgage division fees ​ ​ 831 ​ ​ 650 Visa debit income ​ 1,319 ​ 1,035 Other non‑interest income ​ 1,098 ​ 996 ​ ​ $ 3,724 ​ $ 3,001

Borrowings and Notes Payable (T

Borrowings and Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2021
Borrowings and Notes Payable
Schedule of advances outstanding with the Federal Home Loan Bank and outstanding lines of credit	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 Dollars in Thousands ​ Outstanding Balance Interest Rate Maturity Date Interest Payment Fixed rate hybrid ​ $ 5,000 3.15 % October 2022 Fixed, paid monthly Principal reducing credit ​ ​ 536 ​ 1.62 % March 2023 ​ Fixed, paid quarterly Fixed rate hybrid ​ ​ 9,900 ​ 1.29 % March 2024 Fixed, paid quarterly Fixed rate hybrid ​ ​ 9,900 ​ 1.29 % March 2024 Fixed, paid quarterly Principal reducing credit ​ 977 1.99 % March 2026 Fixed, paid quarterly Total advances ​ $ 26,313 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 Dollars in Thousands ​ ​ Outstanding Balance Interest Rate Maturity Date Interest Payment Fixed rate hybrid ​ $ 6,000 ​ 2.44 % April 2021 Fixed, paid quarterly Fixed rate hybrid ​ 5,000 3.15 % October 2022 Fixed, paid monthly Principal reducing credit ​ 964 1.62 % March 2023 Fixed, paid quarterly Fixed rate hybrid ​ ​ 9,900 ​ 1.29 % March 2024 Fixed, paid quarterly Fixed rate hybrid ​ ​ 9,900 ​ 1.29 % March 2024 Fixed, paid quarterly Principal reducing credit ​ 1,208 1.99 % March 2026 Fixed, paid quarterly Total advances ​ $ 32,972
Schedule of maturities of debt	​ ​ ​ ​ ​ 2022 $ 5,754 2023 ​ 314 2024 ​ 20,008 2025 ​ 210 2026 ​ ​ 39 Thereafter ​ 22,911 ​ ​ $ 49,236

Lease Commitment (Tables)

Lease Commitment (Tables)	12 Months Ended
	Dec. 31, 2021
Lease Commitments
Schedule of supplemental lease information	The following tables present information about the Company’s leases for the years ended: ​ ​ ​ ​ ​ ​ ​ ​ Dollars in Thousands December 31, 2021 December 31, 2020 ​ Balance Sheet ​ ​ ​ ​ ​ ​ ​ Operating Lease Amounts ​ ​ ​ ​ ​ ​ ​ Right-of-use asset ​ $ 6,009 ​ $ 3,983 ​ Lease liability ​ 6,372 ​ ​ 4,301 ​ Finance Lease Amounts ​ ​ ​ ​ ​ ​ ​ Right-of-use asset ​ $ 1,687 ​ $ 1,824 ​ Lease liability ​ ​ 2,125 ​ ​ 2,242 ​ ​ ​ ​ ​ ​ ​ ​ ​ Supplemental balance sheet information ​ ​ ​ ​ ​ ​ ​ Weighted average lease term - Operating Leases (Yrs.) ​ 7.99 ​ ​ 8.00 ​ Weighted average lease term - Finance Leases (Yrs.) ​ 12.09 ​ ​ 13.09 ​ Weighted average discount rate - Operating Leases (1) ​ ​ 2.24 % ​ 2.74 % Weighted average discount rate - Finance Leases (1) ​ ​ 2.84 % ​ 2.84 % ​ ​ ​ ​ ​ ​ ​ ​ Income Statement ​ ​ ​ ​ ​ ​ ​ Year Ended ​ December 31, 2021 ​ December 31, 2020 ​ Operating lease cost classified as premises and equipment ​ $ 976 ​ $ 859 ​ Finance lease cost classified as interest on borrowings ​ ​ 62 ​ ​ 65 ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating outgoing cash flows from operating leases ​ $ 884 ​ $ 813 ​ Operating outgoing cash flows from finance leases ​ $ 178 ​ $ 178 ​ (1) The discount rate was developed by using the fixed rate credit advance borrowing rate at the FHLB for a term correlating to the remaining term of each lease. Management believes this rate closely mirrors its incremental borrowing rate for similar terms.
Schedule of minimum operating lease payments	​ ​ ​ ​ ​ ​ Dollars in Thousands Operating Leases: ​ ​ ​ One year or less ​ $ 1,042 One to three years ​ 1,668 Three to five years ​ 1,172 Over 5 years ​ 3,305 Total undiscounted cash flows ​ 7,187 Less: Discount ​ (815) Lease Liabilities ​ $ 6,372 ​ ​ ​ ​ Finance Leases: ​ ​ ​ One year or less ​ $ 178 One to three years ​ ​ 381 Three to five years ​ ​ 407 Over 5 years ​ ​ 1,569 Total undiscounted cash flows ​ ​ 2,535 Less: Discount ​ ​ (410) Lease Liabilities ​ $ 2,125
Schedule of minimum finance lease payments	​ ​ ​ ​ ​ ​ Dollars in Thousands Operating Leases: ​ ​ ​ One year or less ​ $ 1,042 One to three years ​ 1,668 Three to five years ​ 1,172 Over 5 years ​ 3,305 Total undiscounted cash flows ​ 7,187 Less: Discount ​ (815) Lease Liabilities ​ $ 6,372 ​ ​ ​ ​ Finance Leases: ​ ​ ​ One year or less ​ $ 178 One to three years ​ ​ 381 Three to five years ​ ​ 407 Over 5 years ​ ​ 1,569 Total undiscounted cash flows ​ ​ 2,535 Less: Discount ​ ​ (410) Lease Liabilities ​ $ 2,125

Other Operating Expenses (Table

Other Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Other Operating Expenses
Summary of other operating expenses	​ ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Professional services ​ $ 769 ​ $ 620 Stationary, printing and supplies ​ 273 ​ 254 Postage and delivery ​ 197 ​ 201 FDIC assessment ​ 904 ​ 644 State bank assessment ​ 66 ​ 82 Directors fees and expenses ​ 742 ​ 608 Marketing ​ 443 ​ 441 Correspondent bank services ​ 122 ​ 117 ATM expenses ​ 1,030 ​ 1,002 Telephones and mobile devices ​ 806 ​ 755 Membership dues and fees ​ 128 ​ 122 Legal fees ​ 562 ​ 535 Audit and related professional fees ​ 358 ​ 456 Insurance ​ 267 ​ 265 Listing Fees ​ ​ 58 ​ ​ 114 Other ​ 5,334 ​ 5,489 ​ ​ $ 12,059 ​ $ 11,705

Stock Option Plans (Tables)

Stock Option Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Stock options
Schedule of stock option valuation assumptions	​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ Dividend yield ​ 1.34 % Expected life ​ 1.91 ​ Expected volatility ​ 4.34 % Risk-free interest rate ​ 1.60 %
Stock options | Liberty 2004 Stock Option Plan
Stock options
Summary of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercise ​ Contractual ​ ​ Intrinsic ​ ​ ​ Shares ​ ​ Price ​ Life ​ ​ Value Outstanding at beginning of period ​ ​ 7,681 ​ $ 4.14 ​ 2.23 ​ ​ ​ Granted ​ ​ — ​ ​ — ​ — ​ ​ ​ Exercised ​ ​ (1,920) ​ ​ 4.14 ​ — ​ ​ ​ Forfeited ​ ​ — ​ ​ — ​ — ​ ​ ​ Outstanding at end of period ​ ​ 5,761 ​ $ 4.14 ​ 1.23 ​ $ 32,607 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options exercisable at December 31, 2021 ​ ​ 5,761 ​ $ 4.14 ​ ​ ​ ​ ​
Stock options | Partners Stock Option Plan
Stock options
Summary of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercise ​ Contractual ​ ​ Intrinsic ​ ​ ​ Shares ​ ​ Price ​ Life ​ ​ Value Outstanding at beginning of period ​ ​ 186,552 ​ $ 6.22 ​ 3.47 ​ ​ ​ Granted ​ ​ — ​ ​ — ​ — ​ ​ ​ Exercised ​ ​ (58,405) ​ ​ 5.83 ​ — ​ ​ ​ Forfeited ​ ​ — ​ ​ — ​ — ​ ​ ​ Outstanding at end of period ​ ​ 128,147 ​ $ 6.40 ​ 3.18 ​ $ 435,823 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options exercisable at December 31, 2021 ​ ​ 128,147 ​ $ 6.40 ​ ​ ​ ​ ​

Restricted Stock Plan (Tables)

Restricted Stock Plan (Tables)	12 Months Ended
	Dec. 31, 2021
Restricted Stock Plan | Restricted stock
Equity Compensation
Summary of non vested restricted stock awards	​ ​ ​ ​ ​ ​ ​ ​ ​ Employees ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Shares ​ Fair Value Nonvested Awards December 31, 2020 3,000 $ 7.30 Vested in 2021 (3,000) ​ 7.30 Nonvested Awards December 31, 2021 — ​ $ —

Incentive Stock Plan (Tables)

Incentive Stock Plan (Tables)	12 Months Ended
	Dec. 31, 2021
2021 Incentive Stock Plan | Restricted stock
Equity Compensation
Summary of non vested restricted stock awards	​ ​ ​ ​ ​ ​ ​ ​ ​ Employees ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Shares ​ Fair Value Nonvested Awards December 31, 2020 — $ — Awarded in 2021 153,824 ​ 8.43 Vested in 2021 ​ (125,824) ​ ​ 8.31 Nonvested Awards December 31, 2021 28,000 ​ $ 8.99

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share
Schedule of basic and diluted EPS	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Income Applicable ​ ​ ​ ​ ​ ​ to Basic Earnings ​ Weighted Average ​ ​ ​ (Dollars in thousands, except per share data) ​ Per Common Share ​ Shares Outstanding ​ ​ ​ For the year ended December 31, 2021 ​ ​ ​ ​ ​ ​ Basic EPS ​ $ 7,411 ​ ​ 17,790 ​ $ 0.417 Effect of dilutive stock awards ​ ​ — ​ ​ 44 ​ ​ — Diluted EPS ​ $ 7,411 ​ ​ 17,834 ​ $ 0.416 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, 2020 ​ ​ ​ ​ ​ ​ Basic EPS ​ $ 5,670 ​ ​ 17,806 ​ $ 0.318 Effect of dilutive stock awards ​ ​ — ​ ​ 26 ​ ​ — Diluted EPS ​ $ 5,670 ​ ​ 17,832 ​ $ 0.318

Regulatory Capital Requiremen_2

Regulatory Capital Requirements (Tables)	12 Months Ended
	Dec. 31, 2021
Regulatory Capital Requirements
Summary of comparison of the Company's and the Bank's capital amounts and ratios with the minimum requirements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To Be ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Well Capitalized ​ ​ ​ ​ ​ ​ ​ For Capital ​ Under Prompt ​ ​ ​ ​ ​ ​ ​ Adequacy ​ Corrective Action In Thousands ​ Actual ​ Purposes ​ Provisions ​ Amount Ratio Amount Ratio Amount Ratio As of December 31, 2021 ​ ​ ​ ​ Total Capital Ratio ​ ​ ​ ​ (To Risk Weighted Assets) ​ ​ ​ ​ The Bank of Delmarva ​ $ 91,928 12.9 % $ 74,963 10.5 % $ 71,394 10.0 % Virginia Partners Bank ​ 56,192 12.0 % 49,103 10.5 % 46,765 10.0 % Tier I Capital Ratio ​ ​ ​ ​ ​ ​ ​ ​ ​ (To Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ The Bank of Delmarva ​ 82,972 11.6 % 60,684 8.5 % 57,115 8.0 % Virginia Partners Bank ​ 52,844 11.3 % 39,750 8.5 % 37,412 8.0 % Common Equity Tier I Ratio ​ ​ ​ ​ ​ ​ ​ ​ ​ (To Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ The Bank of Delmarva ​ 82,972 11.6 % 49,975 7.0 % 46,406 6.5 % Virginia Partners Bank ​ 52,844 11.3 % 32,735 7.0 % 30,397 6.5 % Tier I Leverage Ratio ​ ​ ​ ​ ​ ​ ​ ​ ​ (To Average Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ The Bank of Delmarva ​ 82,972 8.1 % 40,926 4.0 % 51,158 5.0 % Virginia Partners Bank ​ 52,844 8.5 % 25,009 4.0 % 31,261 5.0 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2020 ​ ​ ​ ​ Total Capital Ratio ​ ​ ​ ​ (To Risk Weighted Assets) ​ ​ ​ ​ The Bank of Delmarva ​ $ 85,497 12.9 % $ 69,608 10.5 % $ 66,294 10.0 % Virginia Partners Bank ​ ​ 51,971 13.5 % ​ 40,381 10.5 % ​ 38,459 10.0 % Tier I Capital Ratio ​ ​ ​ ​ ​ ​ ​ ​ ​ (To Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ The Bank of Delmarva ​ 77,168 11.6 % 56,350 8.5 % 53,035 8.0 % Virginia Partners Bank ​ ​ 50,271 13.1 % ​ 32,690 8.5 % ​ 30,767 8.0 % Common Equity Tier I Ratio ​ ​ ​ ​ ​ ​ ​ ​ ​ (To Risk Weighted Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ The Bank of Delmarva ​ 77,168 11.6 % 46,406 7.0 % 43,091 6.5 % Virginia Partners Bank ​ ​ 50,271 13.1 % ​ 26,921 7.0 % ​ 24,998 6.5 % Tier I Leverage Ratio ​ ​ ​ ​ ​ ​ ​ ​ ​ (To Average Assets) ​ ​ ​ ​ ​ ​ ​ ​ ​ The Bank of Delmarva ​ 77,168 8.1 % 38,262 4.0 % 47,827 5.0 % Virginia Partners Bank ​ ​ 50,271 9.5 % ​ 21,253 4.0 % ​ 26,567 5.0 %

Fair Values of Financial Inst_2

Fair Values of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Values of Financial Instruments
Summary of the estimated fair value and the related carrying values of the Company's financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars are in thousands ​ ​ ​ ​ Fair Value Measurements at December 31, 2021 ​ ​ ​ ​ ​ Quoted Prices in ​ Significant ​ Significant ​ ​ ​ ​ ​ ​ Active Markets for ​ Other ​ Unobservable ​ ​ ​ ​ ​ Carrying ​ Identical Assets ​ Observable Inputs ​ Inputs ​ ​ ​ ​ Amount (Level 1) (Level 2) (Level 3) Balance Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 12,887 ​ $ 12,887 ​ $ — ​ $ — ​ $ 12,887 Interest bearing deposits ​ 297,902 ​ 297,902 ​ — ​ — ​ 297,902 Federal funds sold ​ 28,040 ​ 28,040 ​ — ​ — ​ 28,040 Securities: ​ ​ ​ ​ ​ ​ ​ Available for sale ​ 122,021 ​ — ​ 122,021 ​ — ​ 122,021 Loans held for sale ​ ​ 4,064 ​ ​ — ​ ​ 4,064 ​ ​ — ​ ​ 4,064 Loans, net of allowance for credit losses ​ 1,102,539 ​ — ​ — ​ 1,089,812 ​ 1,089,812 Accrued interest receivable ​ 4,313 ​ — ​ 4,313 ​ — ​ 4,313 Restricted stock ​ 4,869 ​ — ​ 4,869 ​ — ​ 4,869 Other investments ​ 5,065 ​ — ​ 5,065 ​ — ​ 5,065 Bank owned life insurance ​ ​ 18,254 ​ ​ — ​ ​ 18,254 ​ ​ — ​ ​ 18,254 Other real estate owned ​ 837 ​ — ​ — ​ 837 ​ 837 Financial liabilities: ​ ​ ​ ​ ​ Deposits ​ $ 1,442,876 ​ $ — ​ $ 1,063,619 ​ $ 380,245 ​ $ 1,443,864 Accrued interest payable ​ 280 ​ — ​ 280 ​ — ​ 280 FHLB advances ​ 26,313 ​ — ​ 27,007 ​ — ​ 27,007 Subordinated notes payable ​ 22,168 ​ — ​ 30,091 ​ — ​ 30,091 Other borrowings ​ ​ 755 ​ ​ — ​ ​ — ​ ​ 755 ​ ​ 755 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dollars are in thousands ​ ​ ​ ​ Fair Value Measurements at December 31, 2020 ​ ​ ​ ​ ​ Quoted Prices in ​ Significant ​ Significant ​ ​ ​ ​ ​ ​ Active Markets for ​ Other ​ Unobservable ​ ​ ​ ​ ​ Carrying ​ Identical Assets ​ Observable Inputs ​ Inputs ​ ​ ​ ​ Amount (Level 1) (Level 2) (Level 3) Balance Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 13,643 ​ $ 13,643 ​ $ — ​ $ — ​ $ 13,643 Interest bearing deposits ​ 218,667 ​ 218,667 ​ — ​ — ​ 218,667 Federal funds sold ​ 50,301 ​ 50,301 ​ — ​ — ​ 50,301 Securities: ​ ​ ​ ​ ​ ​ ​ Available for sale ​ 124,925 ​ — ​ 124,925 ​ — ​ 124,925 Loans held for sale ​ ​ 9,858 ​ ​ — ​ ​ 9,858 ​ ​ — ​ ​ 9,858 Loans, net of allowance for credit losses ​ 1,022,302 ​ — ​ — ​ 1,018,649 ​ 1,018,649 Accrued interest receivable ​ 5,229 ​ — ​ 5,229 ​ — ​ 5,229 Restricted stock ​ 5,445 ​ — ​ 5,445 ​ — ​ 5,445 Other investments ​ 5,091 ​ — ​ 5,091 ​ — ​ 5,091 Bank owned life insurance ​ ​ 14,841 ​ ​ — ​ ​ 14,841 ​ ​ — ​ ​ 14,841 Other real estate owned ​ 2,677 ​ — ​ — ​ 2,677 ​ 2,677 Financial liabilities: ​ ​ ​ ​ ​ Deposits ​ $ 1,268,140 ​ $ — ​ $ 839,122 ​ $ 435,910 ​ $ 1,275,032 Accrued interest payable ​ 402 ​ — ​ 402 ​ — ​ 402 FHLB advances ​ 32,972 ​ — ​ 34,147 ​ 798 ​ 34,945 Subordinated notes payable ​ 24,101 ​ — ​ 34,810 ​ — ​ 34,810 Other borrowings ​ ​ 42,382 ​ ​ — ​ ​ 41,585 ​ ​ — ​ ​ 41,585 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Measurements
Summary of fair value measurements on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Dollars are in thousands Level 1 Level 2 Level 3 Value December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ Obligations of U.S. Government agencies and corporations ​ $ — ​ $ 6,451 ​ $ — ​ $ 6,451 Obligations of States and political subdivisions ​ — ​ 31,126 ​ — ​ 31,126 Mortgage-backed securities ​ — ​ 82,403 ​ — ​ 82,403 Subordinated debt investments ​ ​ — ​ 2,041 ​ — ​ 2,041 Total securities available for sale ​ $ — ​ $ 122,021 ​ $ — ​ $ 122,021 December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Obligations of U.S. Government agencies and corporations ​ $ — ​ $ 6,883 ​ $ — ​ $ 6,883 Obligations of States and political subdivisions ​ — ​ 38,123 ​ — ​ 38,123 Mortgage-backed securities ​ — ​ 75,876 ​ — ​ 75,876 Subordinated debt investments ​ ​ — ​ 4,043 ​ — ​ 4,043 Total securities available for sale ​ $ — ​ $ 124,925 ​ $ — ​ $ 124,925
Summary of the balances of financial assets measured at fair value on a non-recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Dollars are in thousands Level 1 Level 2 Level 3 Value December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans ​ $ — ​ $ — ​ $ 4,653 ​ $ 4,653 OREO ​ — ​ — ​ 837 ​ 837 Total ​ $ — ​ $ — ​ $ 5,490 ​ $ 5,490 December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans ​ $ — ​ $ — ​ $ 2,581 ​ $ 2,581 OREO ​ ​ — ​ ​ — ​ ​ 2,677 ​ ​ 2,677 Total ​ $ — ​ $ — ​ $ 5,258 ​ $ 5,258
Schedule of fair value financial assets measured on non-recurring basis valuation techniques	The following table presents additional quantitative information about financial assets measured at fair value on a non-recurring basis and for which the Company has utilized Level 3 inputs to determine fair value as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ Valuation ​ Unobservable ​ Range of Dollars are in thousands ​ Fair Value ​ Technique ​ Inputs ​ Inputs Impaired loans $ 4,653 Appraisals Discount to reflect current market conditions and estimated selling costs 8% OREO ​ ​ 837 ​ Appraisals or Listing Price ​ Discount to reflect current market conditions and estimated selling costs ​ 8-10% Total ​ $ 5,490 ​ ​ ​ ​ ​ ​ ​ The following table presents additional quantitative information about financial assets measured at fair value on a non-recurring basis and for which the Company has utilized Level 3 inputs to determine fair value as of December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ Valuation ​ Unobservable ​ Range of Dollars are in thousands ​ Fair Value ​ Technique ​ Inputs ​ Inputs Impaired loans $ 2,581 Appraisals Discount to reflect current market conditions and estimated selling costs 8% OREO ​ ​ 2,677 ​ Appraisals or Listing Price ​ Discount to reflect current market conditions and estimated selling costs ​ 8-10% Total ​ $ 5,258 ​ ​ ​ ​ ​ ​

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Intangible assets
Schedule of changes in carrying amount of goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, Dollars in Thousands 2021 2020 Balance at the beginning of the period ​ $ 9,582 ​ $ 9,391 Measurement period adjustments ​ — ​ 191 Balance at the end of the period ​ $ 9,582 ​ $ 9,582
Core deposit intangible
Intangible assets
Summary of changes in the intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, Dollars in Thousands 2021 2020 Balance at the beginning of the period ​ $ 2,660 ​ $ 3,373 Amortization ​ (600) ​ (713) Balance at the end of the period ​ $ 2,060 ​ $ 2,660
Schedule of future amortization	​ ​ ​ ​ ​ ​ ​ December 31, Dollars in Thousands ​ 2021 2022 ​ $ 520 2023 ​ ​ 467 2024 ​ ​ 415 2025 ​ ​ 246 2026 ​ ​ 182 Thereafter ​ ​ 230 ​ ​ $ 2,060
Deposits Purchased Premium (Discount) Net
Intangible assets
Summary of changes in the intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, Dollars in Thousands 2021 2020 Balance at the beginning of the period ​ $ (23) ​ $ (31) Amortization, net ​ 14 ​ 8 Balance at the end of the period ​ $ (9) ​ $ (23)
Schedule of future accretion	​ ​ ​ ​ ​ ​ ​ December 31, Dollars in Thousands ​ 2021 2022 ​ $ 6 2023 ​ ​ 2 2024 ​ ​ 1 ​ ​ $ 9
Schedule of the net effect of amortization of premiums and accretion of discounts associated with acquisition accounting adjustments to assets acquired and liabilities assumed	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2021 2020 Year Ended ​ Dollars in Thousands Adjustments to net income ​ ​ ​ ​ ​ ​ Loans (1) ​ $ 1,499 ​ $ 1,734 Time deposits (2) ​ (14) ​ (8) Core deposit intangible (3) ​ ​ (600) ​ ​ (713) Note Payable (4) ​ ​ (5) ​ ​ (6) Net impact to income before taxes ​ $ 880 ​ $ 1,007 ​ (1) Loan discount accretion is included in the "Loans, including fees" section of "Interest Income" in the Consolidated Statements of Income. (2) Time deposit discount accretion is included in the "Deposits" section of "Interest Expense" in the Consolidated Statements of Income. (3) Core deposit intangible premium amortization is included in the "Other Expenses” section of "Non-interest Expense" in the Consolidated Statements of Income. (4) Note payable discount accretion is included in the "Borrowings" section of "Interest Expense" in the Consolidated Statements of Income.

Parent Company Financial Info_2

Parent Company Financial Information (Tables)	12 Months Ended
	Dec. 31, 2021
Parent Company Financial Information
Summary of comparative balance sheets of the parent company	BALANCE SHEETS December 31, 2021 and 2020 ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 ASSETS ​ ​ Cash ​ $ 14,686 ​ $ 17,579 Investment in subsidiaries, at equity ​ 147,378 ​ 141,979 Other assets ​ 2,276 ​ 2,000 Total assets ​ $ 164,340 ​ $ 161,558 LIABILITIES ​ ​ Subordinated notes payable, net ​ $ 22,168 ​ $ 24,101 Other liabilities ​ 804 ​ 762 Total liabilities ​ $ 22,972 ​ $ 24,863 STOCKHOLDERS' EQUITY ​ ​ Common stock, par value $.01, authorized 40,000,000 shares, issued outstanding ​ $ 179 ​ $ 178 Surplus ​ 88,390 ​ 87,200 Retained earnings ​ 51,305 ​ 45,673 Noncontrolling interest in consolidated subsidiaries ​ ​ 1,179 ​ ​ 1,346 Accumulated other comprehensive income, net of tax ​ 315 ​ 2,298 Total stockholders' equity ​ 141,368 ​ 136,695 Total liabilities and stockholders' equity ​ $ 164,340 ​ $ 161,558
Summary of statement of income of the parent company	STATEMENTS OF INCOME Years Ended December 31, 2021 and 2020 ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 Dividends from subsidiaries ​ $ 3,242 ​ $ 2,784 Income on deposit accounts ​ ​ 29 ​ ​ 5 Interest expense on borrowings ​ (1,464) ​ (1,009) Other expenses, net ​ (2,557) ​ (1,339) (Loss) income before taxes and equity in undistributed net income of subsidiaries ​ (750) ​ 441 Income tax benefits(1) ​ 615 ​ 566 Equity in undistributed net income of subsidiaries ​ 7,546 ​ 4,663 Net income ​ $ 7,411 ​ $ 5,670 (1) Benefits from filing consolidated Federal income tax return.
Summary of statement of cash flows of the parent company	STATEMENTS OF CASH FLOWS Years Ended December 31, 2021 and 2020 ​ ​ ​ ​ ​ ​ ​ Dollars in thousands 2021 2020 CASH FLOWS FROM OPERATING ACTIVITIES: ​ ​ Net income ​ $ 7,411 ​ $ 5,670 Adjustments to reconcile net income to net cash provided by operating activities: ​ ​ Equity in undistributed net income of subsidiaries ​ (7,546) ​ (4,663) Amortization ​ ​ 67 ​ ​ 29 Stock‑based compensation expense ​ 1,072 ​ 14 Changes in assets and liabilities: ​ ​ Increase in other assets ​ (278) ​ (327) Increase in other liabilities ​ 41 ​ 147 Net cash provided by operating activities ​ 767 ​ 870 CASH FLOWS FROM INVESTING ACTIVITIES: ​ ​ Downstream of capital to subsidiary ​ ​ — ​ ​ (3,000) Net cash used in investing activities ​ — ​ (3,000) CASH FLOWS FROM FINANCING ACTIVITIES: ​ ​ Dividends paid ​ (1,779) ​ (1,782) Proceeds from subordinated notes payable ​ — ​ 17,637 Decrease in subordinated notes payable ​ ​ (2,000) ​ ​ — Cash paid for stock repurchases ​ ​ (209) ​ ​ (445) Cash received for the exercise of warrants ​ ​ — ​ ​ 10 Cash received for the exercise of stock options ​ 328 ​ 184 Net cash (used in) provided by financing activities ​ (3,660) ​ 15,604 Net (decrease) increase in cash ​ (2,893) ​ 13,474 Cash, beginning of year ​ 17,579 ​ 4,105 Cash, end of year ​ $ 14,686 ​ $ 17,579

Nature of Business and Its Si_3

Nature of Business and Its Significant Accounting Policies - Consolidation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021subsidiary	Dec. 31, 2020USD ($)
Principles of Consolidation
Number of subsidiaries | subsidiary	2
Aggregate balance of loans granted short-term payment deferrals or periods of interest-only payments for borrowers affected by the COVID-19 pandemic | $		$ 16.2
The Bank of Delmarva | DHB Development LLC
Principles of Consolidation
Ownership interest (as a percent)	40.55%
The Bank of Delmarva | West Nithsdale Enterprises LLC
Principles of Consolidation
Ownership interest (as a percent)	10.00%
The Bank of Delmarva | FBW LLC
Principles of Consolidation
Ownership interest (as a percent)	50.00%
Virginia Partners Bank | Johnson Mortgage Company LLC
Principles of Consolidation
Ownership interest (as a percent)	51.00%

Nature of Business and Its Si_4

Nature of Business and Its Significant Accounting Policies - Loans Held for Sale (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)item	Dec. 31, 2020USD ($)
Loans held for sale
Provisions for credit losses | $	$ 2,323	$ 6,894
Johnson Mortgage Company LLC | Real Estate
Loans held for sale
Receivable settlement period on mortgage loans sold	30 days
Allowance for repurchase of loans sold | $	$ 0	$ 0
Johnson Mortgage Company LLC | Real Estate | Minimum
Loans held for sale
Number of family residences in structures for which mortgages are purchased or refinanced | item	1
Johnson Mortgage Company LLC | Real Estate | Maximum
Loans held for sale
Number of family residences in structures for which mortgages are purchased or refinanced | item	4

Nature of Business and Its Si_5

Nature of Business and Its Significant Accounting Policies - OREO (Details) $ in Thousands	Dec. 31, 2021USD ($)property	Dec. 31, 2020USD ($)property
Nature of Business and Its Significant Accounting Policies
Number of properties	2	5
Other real estate owned, net | $	$ 837	$ 2,677
Number of residential properties	0	0

Nature of Business and Its Si_6

Nature of Business and Its Significant Accounting Policies - Bank Premises and Equipment and Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill
Impairment of goodwill	$ 0	$ 0
Cash and cash equivalents
Cash and cash equivalents	$ 338,829	$ 282,611
Premises and equipment | Minimum
Bank Premises and Equipment and Depreciation
Estimated useful lives	2 years
Premises and equipment | Maximum
Bank Premises and Equipment and Depreciation
Estimated useful lives	50 years
Computer software | Minimum
Bank Premises and Equipment and Depreciation
Estimated useful lives	3 years
Computer software | Maximum
Bank Premises and Equipment and Depreciation
Estimated useful lives	5 years

Nature of Business and Its Si_7

Nature of Business and Its Significant Accounting Policies - Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Weighted average shares outstanding
Weighted average shares outstanding	17,789,987	17,805,835

Investment Securities - Availab

Investment Securities - Available for sale (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Marketable securities
Amortized Cost	$ 121,542	$ 121,845
Gross Unrealized Gains	1,773	3,204
Gross Unrealized Losses	1,294	124
Fair Value	122,021	124,925
Obligations of U.S. Government agencies
Debt securities
Amortized Cost	6,547	6,758
Gross Unrealized Gains	46	137
Gross Unrealized Losses	142	12
Fair Value	6,451	6,883
Obligations of States and political subdivisions
Debt securities
Amortized Cost	29,792	36,245
Gross Unrealized Gains	1,397	1,878
Gross Unrealized Losses	63
Fair Value	31,126	38,123
Mortgage-backed securities
Debt securities
Amortized Cost	83,213	74,857
Gross Unrealized Gains	279	1,127
Gross Unrealized Losses	1,089	108
Fair Value	82,403	75,876
Subordinated debt investments
Debt securities
Amortized Cost	1,990	3,985
Gross Unrealized Gains	51	62
Gross Unrealized Losses		4
Fair Value	$ 2,041	$ 4,043

Investment Securities - Unreali

Investment Securities - Unrealized loss positions (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Marketable securities - Fair Value
Less than 12 months	$ 62,998	$ 22,015
12 months or more	13,746
Total	76,744	22,015
Marketable securities - Unrealized Loss
Less than 12 months	842	124
12 months or more	452
Total	1,294	124
Obligations of U.S. Government agencies
Debt securities - Fair Value
Less than 12 months	1,289	2,494
12 months or more	2,397
Total	3,686	2,494
Debt securities - Unrealized Loss
Less than 12 months	35	12
12 months or more	107
Total	142	12
Obligations of States and political subdivisions
Debt securities - Fair Value
Less than 12 months	2,473
Total	2,473
Debt securities - Unrealized Loss
Less than 12 months	63
Total	63
Mortgage-backed securities
Debt securities - Fair Value
Less than 12 months	59,236	18,525
12 months or more	11,349
Total	70,585	18,525
Debt securities - Unrealized Loss
Less than 12 months	744	108
12 months or more	345
Total	$ 1,089	108
Subordinated debt investments
Debt securities - Fair Value
Less than 12 months		996
Total		996
Debt securities - Unrealized Loss
Less than 12 months		4
Total		$ 4

Investment Securities - Number

Investment Securities - Number of positions (Details)	Dec. 31, 2021position
Obligations of U.S. Government agencies
Investment Securities
Debt securities - Number of position	2
Mortgage-backed securities
Investment Securities
Debt securities - Number of position	5

Investment Securities - Other i

Investment Securities - Other information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)security	Dec. 31, 2020USD ($)security
Investment holdings
Number of investment securities sold | security	14	11
Net gain (loss) on sale of investment securities	$ 17	$ 430
Number of securities either matured or called | security	20	15
Net gain (loss) on securities either matured or called	$ 10	$ 171
Realized gain (loss) on equity securities	(56)	42
Asset Pledged as Collateral
Investment holdings
Amortized cost	11,110	8,938
Fair value	$ 11,199	$ 9,304

Investment Securities - Maturit

Investment Securities - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Amortized Cost
Due in one year or less		$ 2,035
Due after one year through five years	$ 2,716	4,156
Due after five years through ten years	16,953	19,995
Due after ten years or more	18,660	20,802
Mortgage-backed, due in monthly installments	83,213	74,857
Amortized Cost	121,542	121,845
Fair Value
Due in one year or less		2,037
Due after one year through five years	2,875	4,389
Due after five years through ten years	17,422	20,748
Due after ten years or more	19,321	21,875
Mortgage-backed securities, due in monthly installments	82,403	75,876
Fair Value	$ 122,021	$ 124,925

Loans, Allowance for Credit L_3

Loans, Allowance for Credit Losses and Impaired Loans - Major Categories of Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investment Securities
Loans and leases receivable net of unamortized discount	$ 1,117,195	$ 1,035,505
Less: Allowance for loan losses	(14,656)	(13,203)	$ (7,304)
Carrying amount	1,102,539	1,022,302
Real Estate Mortgage | Construction and Land Development
Investment Securities
Loans and leases receivable net of unamortized discount	107,983	74,706
Less: Allowance for loan losses	(1,143)	(903)	(602)
Real Estate Mortgage | Residential Real Estate
Investment Securities
Loans and leases receivable net of unamortized discount	201,230	199,349
Less: Allowance for loan losses	(1,893)	(2,351)	(1,380)
Real Estate Mortgage | Nonresidential
Investment Securities
Loans and leases receivable net of unamortized discount	642,217	569,745
Less: Allowance for loan losses	(9,239)	(7,584)	(4,074)
Real Estate Mortgage | Home Equity Loans
Investment Securities
Loans and leases receivable net of unamortized discount	30,395	34,226
Less: Allowance for loan losses	(212)	(271)	(142)
Commercial
Investment Securities
Loans and leases receivable net of unamortized discount	130,908	152,798
Less: Allowance for loan losses	(1,885)	(1,943)	(826)
Consumer and Other
Investment Securities
Loans and leases receivable net of unamortized discount	4,462	4,681
Less: Allowance for loan losses	(36)	(37)	$ (14)
Originated Loans
Investment Securities
Loans and leases receivable net of unamortized discount	913,314	731,022
Originated Loans | Real Estate Mortgage | Construction and Land Development
Investment Securities
Loans and leases receivable net of unamortized discount	107,478	71,361
Originated Loans | Real Estate Mortgage | Residential Real Estate
Investment Securities
Loans and leases receivable net of unamortized discount	159,701	128,285
Originated Loans | Real Estate Mortgage | Nonresidential
Investment Securities
Loans and leases receivable net of unamortized discount	513,873	394,539
Originated Loans | Real Estate Mortgage | Home Equity Loans
Investment Securities
Loans and leases receivable net of unamortized discount	19,246	18,526
Originated Loans | Commercial
Investment Securities
Loans and leases receivable net of unamortized discount	109,470	115,387
Originated Loans | Consumer and Other
Investment Securities
Loans and leases receivable net of unamortized discount	3,546	2,924
Acquired Loans
Investment Securities
Loans and leases receivable net of unamortized discount	203,881	304,483
Acquired Loans | Real Estate Mortgage | Construction and Land Development
Investment Securities
Loans and leases receivable net of unamortized discount	505	3,345
Acquired Loans | Real Estate Mortgage | Residential Real Estate
Investment Securities
Loans and leases receivable net of unamortized discount	41,529	71,064
Acquired Loans | Real Estate Mortgage | Nonresidential
Investment Securities
Loans and leases receivable net of unamortized discount	128,344	175,206
Acquired Loans | Real Estate Mortgage | Home Equity Loans
Investment Securities
Loans and leases receivable net of unamortized discount	11,149	15,700
Acquired Loans | Commercial
Investment Securities
Loans and leases receivable net of unamortized discount	21,438	37,411
Acquired Loans | Consumer and Other
Investment Securities
Loans and leases receivable net of unamortized discount	$ 916	$ 1,757

Loans, Allowance for Credit L_4

Loans, Allowance for Credit Losses and Impaired Loans - Loan Impairment and Allowance for Credit Losses (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)customer	Dec. 31, 2020USD ($)
Allowance for credit losses
Beginning Balance	$ 13,203	$ 7,304
Charge-offs	(988)	(1,738)
Recoveries	118	743
Provisions for credit losses	2,323	6,894
Ending Balance	14,656	13,203
Purchased credit impaired loans: Balance in allowance	9	41
Purchased credit impaired loans: Related loan balance	2,181	4,481
Individually evaluated for impairment: Balance in allowance	1,455	673
Individually evaluated for impairment: Related loan balance	13,218	10,601
Collectively evaluated for impairment: Balance in allowance	13,192	12,489
Collectively evaluated for impairment: Related loan balance	1,101,796	1,020,423
Unamortized discounts on acquired loans	2,300	4,000
Non-accrual loans
Loans past due 90 days or more still accruing interest		2
Paycheck Protection Program
Carrying amount	1,117,195	1,035,505
PPP Loans
Paycheck Protection Program
Loans funded	95,100
Carrying amount	$ 8,200	42,300
PPP Loans | Minimum
Paycheck Protection Program
Number of customers through PPP | customer	1,130
Real Estate Mortgage | Construction and Land Development
Allowance for credit losses
Beginning Balance	$ 903	602
Recoveries	1	1
Provisions for credit losses	239	300
Ending Balance	1,143	903
Purchased credit impaired loans: Related loan balance	46	44
Individually evaluated for impairment: Related loan balance	598	175
Collectively evaluated for impairment: Balance in allowance	1,143	903
Collectively evaluated for impairment: Related loan balance	107,339	74,487
Paycheck Protection Program
Carrying amount	107,983	74,706
Real Estate Mortgage | Residential Real Estate
Allowance for credit losses
Beginning Balance	2,351	1,380
Charge-offs	(39)	(112)
Recoveries	23	70
Provisions for credit losses	(442)	1,013
Ending Balance	1,893	2,351
Purchased credit impaired loans: Balance in allowance	9
Purchased credit impaired loans: Related loan balance	1,633	1,839
Individually evaluated for impairment: Balance in allowance	3	156
Individually evaluated for impairment: Related loan balance	2,082	2,947
Collectively evaluated for impairment: Balance in allowance	1,881	2,195
Collectively evaluated for impairment: Related loan balance	197,515	194,563
Paycheck Protection Program
Carrying amount	201,230	199,349
Real Estate Mortgage | Nonresidential
Allowance for credit losses
Beginning Balance	7,584	4,074
Charge-offs	(692)	(575)
Recoveries	53	512
Provisions for credit losses	2,294	3,573
Ending Balance	9,239	7,584
Purchased credit impaired loans: Related loan balance	376	2,237
Individually evaluated for impairment: Balance in allowance	1,000	17
Individually evaluated for impairment: Related loan balance	9,901	6,990
Collectively evaluated for impairment: Balance in allowance	8,239	7,567
Collectively evaluated for impairment: Related loan balance	631,940	560,518
Paycheck Protection Program
Carrying amount	642,217	569,745
Real Estate Mortgage | Home Equity Loans
Allowance for credit losses
Beginning Balance	271	142
Charge-offs	(7)	(13)
Recoveries	3	10
Provisions for credit losses	(55)	132
Ending Balance	212	271
Individually evaluated for impairment: Related loan balance	53
Collectively evaluated for impairment: Balance in allowance	212	271
Collectively evaluated for impairment: Related loan balance	30,342	34,226
Paycheck Protection Program
Carrying amount	30,395	34,226
Commercial
Allowance for credit losses
Beginning Balance	1,943	826
Charge-offs	(184)	(918)
Recoveries	16	109
Provisions for credit losses	110	1,926
Ending Balance	1,885	1,943
Purchased credit impaired loans: Balance in allowance		41
Purchased credit impaired loans: Related loan balance	126	361
Individually evaluated for impairment: Balance in allowance	452	500
Individually evaluated for impairment: Related loan balance	584	489
Collectively evaluated for impairment: Balance in allowance	1,433	1,402
Collectively evaluated for impairment: Related loan balance	130,198	151,948
Paycheck Protection Program
Carrying amount	130,908	152,798
Consumer and Other
Allowance for credit losses
Beginning Balance	37	14
Charge-offs	(66)	(120)
Recoveries	22	41
Provisions for credit losses	43	102
Ending Balance	36	37
Collectively evaluated for impairment: Balance in allowance	36	37
Collectively evaluated for impairment: Related loan balance	4,462	4,681
Non-accrual loans
Loans past due 90 days or more still accruing interest		2
Paycheck Protection Program
Carrying amount	4,462	4,681
Unallocated
Allowance for credit losses
Beginning Balance	114	266
Provisions for credit losses	134	(152)
Ending Balance	248	114
Collectively evaluated for impairment: Balance in allowance	248	114
Originated Loans
Paycheck Protection Program
Carrying amount	913,314	731,022
Originated Loans | Real Estate Mortgage | Construction and Land Development
Paycheck Protection Program
Carrying amount	107,478	71,361
Originated Loans | Real Estate Mortgage | Residential Real Estate
Paycheck Protection Program
Carrying amount	159,701	128,285
Originated Loans | Real Estate Mortgage | Nonresidential
Paycheck Protection Program
Carrying amount	513,873	394,539
Originated Loans | Real Estate Mortgage | Home Equity Loans
Paycheck Protection Program
Carrying amount	19,246	18,526
Originated Loans | Commercial
Paycheck Protection Program
Carrying amount	109,470	115,387
Originated Loans | Consumer and Other
Paycheck Protection Program
Carrying amount	3,546	2,924
Acquired Loans
Paycheck Protection Program
Carrying amount	203,881	304,483
Acquired Loans | Real Estate Mortgage | Construction and Land Development
Paycheck Protection Program
Carrying amount	505	3,345
Acquired Loans | Real Estate Mortgage | Residential Real Estate
Paycheck Protection Program
Carrying amount	41,529	71,064
Acquired Loans | Real Estate Mortgage | Nonresidential
Paycheck Protection Program
Carrying amount	128,344	175,206
Acquired Loans | Real Estate Mortgage | Home Equity Loans
Paycheck Protection Program
Carrying amount	11,149	15,700
Acquired Loans | Commercial
Paycheck Protection Program
Carrying amount	21,438	37,411
Acquired Loans | Consumer and Other
Paycheck Protection Program
Carrying amount	$ 916	$ 1,757

Loans, Allowance for Credit L_5

Loans, Allowance for Credit Losses and Impaired Loans - Loan by Risk Rating (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)loan	Dec. 31, 2020USD ($)loan
Loans by risk rating
Loans and leases receivable net of unamortized discount	$ 1,117,195	$ 1,035,505
Non-Accrual	$ 8,961	$ 4,910
Number of loans modified during the period | loan	2	1
Pre-modification recorded balance	$ 3,185	$ 1,196
Post- modification recorded balance	$ 2,905	$ 489
Number of loans modified as TDR that subsequently defaulted | loan	0	1
Loan balance of defaulted loan modified as TDR		$ 1,200
Charge-off of defaulted loan		707
Pass
Loans by risk rating
Loans and leases receivable net of unamortized discount	$ 1,092,092	1,012,783
Marginal
Loans by risk rating
Loans and leases receivable net of unamortized discount	15,421	14,274
Substandard
Loans by risk rating
Loans and leases receivable net of unamortized discount	9,682	8,448
Real Estate Mortgage | Construction and Land Development
Loans by risk rating
Loans and leases receivable net of unamortized discount	107,983	74,706
Non-Accrual	598	175
Real Estate Mortgage | Construction and Land Development | Pass
Loans by risk rating
Loans and leases receivable net of unamortized discount	107,339	74,487
Real Estate Mortgage | Construction and Land Development | Marginal
Loans by risk rating
Loans and leases receivable net of unamortized discount	46	44
Real Estate Mortgage | Construction and Land Development | Substandard
Loans by risk rating
Loans and leases receivable net of unamortized discount	598	175
Real Estate Mortgage | Residential Real Estate
Loans by risk rating
Loans and leases receivable net of unamortized discount	201,230	199,349
Non-Accrual	$ 1,293	$ 2,022
Number of loans in the process of foreclosure | loan	2	2
Aggregate balances of loans in the process of foreclosure	$ 345	$ 353
Real Estate Mortgage | Residential Real Estate | Pass
Loans by risk rating
Loans and leases receivable net of unamortized discount	199,037	195,599
Real Estate Mortgage | Residential Real Estate | Marginal
Loans by risk rating
Loans and leases receivable net of unamortized discount	507	575
Real Estate Mortgage | Residential Real Estate | Substandard
Loans by risk rating
Loans and leases receivable net of unamortized discount	1,686	3,175
Real Estate Mortgage | Nonresidential
Loans by risk rating
Loans and leases receivable net of unamortized discount	642,217	569,745
Non-Accrual	$ 6,486	2,170
Number of loans modified during the period | loan	2
Pre-modification recorded balance	$ 3,185
Post- modification recorded balance	2,905
Real Estate Mortgage | Nonresidential | Pass
Loans by risk rating
Loans and leases receivable net of unamortized discount	622,648	552,758
Real Estate Mortgage | Nonresidential | Marginal
Loans by risk rating
Loans and leases receivable net of unamortized discount	12,819	12,542
Real Estate Mortgage | Nonresidential | Substandard
Loans by risk rating
Loans and leases receivable net of unamortized discount	6,750	4,445
Real Estate Mortgage | Home Equity Loans
Loans by risk rating
Loans and leases receivable net of unamortized discount	30,395	34,226
Non-Accrual		54
Real Estate Mortgage | Home Equity Loans | Pass
Loans by risk rating
Loans and leases receivable net of unamortized discount	30,159	33,479
Real Estate Mortgage | Home Equity Loans | Marginal
Loans by risk rating
Loans and leases receivable net of unamortized discount	183	693
Real Estate Mortgage | Home Equity Loans | Substandard
Loans by risk rating
Loans and leases receivable net of unamortized discount	53	54
Commercial
Loans by risk rating
Loans and leases receivable net of unamortized discount	130,908	152,798
Non-Accrual	584	$ 489
Number of loans modified during the period | loan		1
Pre-modification recorded balance		$ 1,196
Post- modification recorded balance		489
Commercial | Pass
Loans by risk rating
Loans and leases receivable net of unamortized discount	128,949	151,779
Commercial | Marginal
Loans by risk rating
Loans and leases receivable net of unamortized discount	1,364	420
Commercial | Substandard
Loans by risk rating
Loans and leases receivable net of unamortized discount	595	599
Consumer and Other
Loans by risk rating
Loans and leases receivable net of unamortized discount	4,462	4,681
Consumer and Other | Pass
Loans by risk rating
Loans and leases receivable net of unamortized discount	3,960	$ 4,681
Consumer and Other | Marginal
Loans by risk rating
Loans and leases receivable net of unamortized discount	$ 502

Loans, Allowance for Credit L_6

Loans, Allowance for Credit Losses and Impaired Loans - Aging (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Past due financing receivables
Total Financing Receivables	$ 1,117,195	$ 1,035,505
Recorded Investment >90 Days Past Due and Accruing		2
Non-accrual loans	8,961	4,910
Unamortized discounts on acquired loans	2,300	4,000
Current
Past due financing receivables
Current Balance	1,112,120	1,024,123
Non-accrual loans	5,000	458
Past Due
Past due financing receivables
Current Balance	5,075	11,382
30-59 Days Past Due
Past due financing receivables
Current Balance	879	5,887
Non-accrual loans	55	683
60-89 Days Past Due
Past due financing receivables
Current Balance	245	1,719
Non-accrual loans		227
Greater than 90 Days Past Due
Past due financing receivables
Current Balance	3,951	3,776
Non-accrual loans	4,000	3,500
Real Estate Mortgage | Construction and Land Development
Past due financing receivables
Total Financing Receivables	107,983	74,706
Non-accrual loans	598	175
Real Estate Mortgage | Construction and Land Development | Current
Past due financing receivables
Current Balance	107,385	73,823
Real Estate Mortgage | Construction and Land Development | Past Due
Past due financing receivables
Current Balance	598	883
Real Estate Mortgage | Construction and Land Development | 30-59 Days Past Due
Past due financing receivables
Current Balance		642
Real Estate Mortgage | Construction and Land Development | 60-89 Days Past Due
Past due financing receivables
Current Balance		66
Real Estate Mortgage | Construction and Land Development | Greater than 90 Days Past Due
Past due financing receivables
Current Balance	598	175
Real Estate Mortgage | Residential Real Estate
Past due financing receivables
Total Financing Receivables	201,230	199,349
Non-accrual loans	1,293	2,022
Real Estate Mortgage | Residential Real Estate | Current
Past due financing receivables
Current Balance	199,966	195,906
Real Estate Mortgage | Residential Real Estate | Past Due
Past due financing receivables
Current Balance	1,264	3,443
Real Estate Mortgage | Residential Real Estate | 30-59 Days Past Due
Past due financing receivables
Current Balance	658	2,520
Real Estate Mortgage | Residential Real Estate | 60-89 Days Past Due
Past due financing receivables
Current Balance	245	244
Real Estate Mortgage | Residential Real Estate | Greater than 90 Days Past Due
Past due financing receivables
Current Balance	361	679
Real Estate Mortgage | Nonresidential
Past due financing receivables
Total Financing Receivables	642,217	569,745
Non-accrual loans	6,486	2,170
Real Estate Mortgage | Nonresidential | Current
Past due financing receivables
Current Balance	639,302	563,576
Real Estate Mortgage | Nonresidential | Past Due
Past due financing receivables
Current Balance	2,915	6,169
Real Estate Mortgage | Nonresidential | 30-59 Days Past Due
Past due financing receivables
Current Balance		2,552
Real Estate Mortgage | Nonresidential | 60-89 Days Past Due
Past due financing receivables
Current Balance		1,240
Real Estate Mortgage | Nonresidential | Greater than 90 Days Past Due
Past due financing receivables
Current Balance	2,915	2,377
Real Estate Mortgage | Home Equity Loans
Past due financing receivables
Total Financing Receivables	30,395	34,226
Non-accrual loans		54
Real Estate Mortgage | Home Equity Loans | Current
Past due financing receivables
Current Balance	30,235	34,092
Real Estate Mortgage | Home Equity Loans | Past Due
Past due financing receivables
Current Balance	160	134
Real Estate Mortgage | Home Equity Loans | 30-59 Days Past Due
Past due financing receivables
Current Balance	160	80
Real Estate Mortgage | Home Equity Loans | Greater than 90 Days Past Due
Past due financing receivables
Current Balance		54
Commercial
Past due financing receivables
Total Financing Receivables	130,908	152,798
Non-accrual loans	584	489
Commercial | Current
Past due financing receivables
Current Balance	130,785	152,054
Commercial | Past Due
Past due financing receivables
Current Balance	123	744
Commercial | 30-59 Days Past Due
Past due financing receivables
Current Balance	46	86
Commercial | 60-89 Days Past Due
Past due financing receivables
Current Balance		169
Commercial | Greater than 90 Days Past Due
Past due financing receivables
Current Balance	77	489
Consumer and Other
Past due financing receivables
Total Financing Receivables	4,462	4,681
Recorded Investment >90 Days Past Due and Accruing		2
Consumer and Other | Current
Past due financing receivables
Current Balance	4,447	4,672
Consumer and Other | Past Due
Past due financing receivables
Current Balance	15	9
Consumer and Other | 30-59 Days Past Due
Past due financing receivables
Current Balance	$ 15	7
Consumer and Other | Greater than 90 Days Past Due
Past due financing receivables
Current Balance		$ 2

Loans, Allowance for Credit L_7

Loans, Allowance for Credit Losses and Impaired Loans - Impaired loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Impaired loans
Impaired loans with specific reserves - Recorded Investment	$ 7,370	$ 3,254
Impaired loans with specific reserves - Unpaid Principal Balance	7,502	3,961
Impaired loans with specific reserves - Interest Income Recognized	510	270
Impaired loans with specific reserves - Specific Reserve	1,455	673
Impaired loans with specific reserves - Average Recorded Investment	7,544	3,856
Impaired loans with no specific reserves - Recorded Investment	5,848	7,347
Impaired loans with no specific reserves - Unpaid Principal Balance	5,954	7,860
Impaired loans with no specific reserves - Interest Income Recognized	386	281
Impaired loans with no specific reserves - Average Recorded Investment	5,969	8,485
Impaired loans specific reserves - Recorded Investment	13,218	10,601
Impaired loans specific reserves - Unpaid Principal Balance	13,456	11,821
Impaired loans specific reserves - Interest Income Recognized	896	551
Impaired loans specific reserves - Average Recorded Investment	13,513	12,341
Loans
Carrying amount	1,117,195	1,035,505
Unamortized discounts on acquired loans	2,300	4,000
PCI loans
Impaired loans
Impaired loans specific reserves - Recorded Investment	9	41
Loans
Carrying amount	2,181	4,481
Unamortized discounts on acquired loans	432	644
Real Estate Mortgage | Construction and Land Development
Impaired loans
Impaired loans with no specific reserves - Recorded Investment	598	175
Impaired loans with no specific reserves - Unpaid Principal Balance	598	175
Impaired loans with no specific reserves - Interest Income Recognized	13
Impaired loans with no specific reserves - Average Recorded Investment	599	176
Loans
Carrying amount	107,983	74,706
Real Estate Mortgage | Residential Real Estate
Impaired loans
Impaired loans with specific reserves - Recorded Investment	426	614
Impaired loans with specific reserves - Unpaid Principal Balance	426	614
Impaired loans with specific reserves - Interest Income Recognized	22
Impaired loans with specific reserves - Specific Reserve	3	156
Impaired loans with specific reserves - Average Recorded Investment	433	671
Impaired loans with no specific reserves - Recorded Investment	1,656	2,333
Impaired loans with no specific reserves - Unpaid Principal Balance	1,687	2,425
Impaired loans with no specific reserves - Interest Income Recognized	26	107
Impaired loans with no specific reserves - Average Recorded Investment	1,698	2,365
Loans
Carrying amount	201,230	199,349
Real Estate Mortgage | Nonresidential
Impaired loans
Impaired loans with specific reserves - Recorded Investment	6,437	2,151
Impaired loans with specific reserves - Unpaid Principal Balance	6,559	2,151
Impaired loans with specific reserves - Interest Income Recognized	369	259
Impaired loans with specific reserves - Specific Reserve	1,000	17
Impaired loans with specific reserves - Average Recorded Investment	6,528	2,304
Impaired loans with no specific reserves - Recorded Investment	3,464	4,839
Impaired loans with no specific reserves - Unpaid Principal Balance	3,462	5,260
Impaired loans with no specific reserves - Interest Income Recognized	344	174
Impaired loans with no specific reserves - Average Recorded Investment	3,510	5,944
Loans
Carrying amount	642,217	569,745
Real Estate Mortgage | Home Equity Loans
Impaired loans
Impaired loans with no specific reserves - Recorded Investment	53
Impaired loans with no specific reserves - Unpaid Principal Balance	53
Impaired loans with no specific reserves - Interest Income Recognized	1
Impaired loans with no specific reserves - Average Recorded Investment	53
Loans
Carrying amount	30,395	34,226
Commercial
Impaired loans
Impaired loans with specific reserves - Recorded Investment	507	489
Impaired loans with specific reserves - Unpaid Principal Balance	517	1,196
Impaired loans with specific reserves - Interest Income Recognized	119	11
Impaired loans with specific reserves - Specific Reserve	452	500
Impaired loans with specific reserves - Average Recorded Investment	583	881
Impaired loans with no specific reserves - Recorded Investment	77
Impaired loans with no specific reserves - Unpaid Principal Balance	154
Impaired loans with no specific reserves - Interest Income Recognized	2
Impaired loans with no specific reserves - Average Recorded Investment	109
Loans
Carrying amount	130,908	152,798
Consumer and Other
Loans
Carrying amount	$ 4,462	$ 4,681

Loans, Allowance for Credit L_8

Loans, Allowance for Credit Losses and Impaired Loans - Acquired loans (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Acquired loans
Carrying amount	$ 1,117,195	$ 1,035,505
Acquired Loans
Acquired loans
Outstanding balance	206,209	308,488
Carrying amount	203,881	304,483
PCI loans
Acquired loans
Outstanding balance	2,613	5,125
Carrying amount	2,181	4,481
Non PCI loans
Acquired loans
Outstanding balance	203,596	303,363
Carrying amount	$ 201,700	$ 300,002

Loans, Allowance for Credit L_9

Loans, Allowance for Credit Losses and Impaired Loans - Accretable Yield (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Changes in accretable yield under ASC 310-20:
Balance at beginning of period	$ 3,361	$ 5,081
Acquisitions		(1)
Accretion	(1,464)	(1,718)
Other changes, net	(1)	(1)
Balance at end of period	1,896	3,361
Commitments to loan additional funds to borrowers of restructured, impaired, or non-accrual loans	0	0
PCI loans
Changes in accretable yield under ASC 310-20:
Accretion	(36)	(15)
Non-accretable yield on purchased credit impaired loans	$ 1,400	$ 1,600

Loans, Allowance for Credit _10

Loans, Allowance for Credit Losses and Impaired Loans - Related Party Loans (Details) - Directors, Principal Officers, and Stockholders - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Related party
Related party loans receivables	$ 22	$ 19.8
Related party loan additions	9.8	12.6
Proceeds from related party loan repayments	$ 7.6	$ 6.4

Premises, Equipment and Depre_3

Premises, Equipment and Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Premises and equipment
Total premises and equipment	$ 33,153	$ 30,789
Less: accumulated depreciation	16,978	15,350
Net premises and equipment	16,175	15,439
Depreciation	1,657	1,451
Land
Premises and equipment
Total premises and equipment	3,022	3,022
Buildings and improvements
Premises and equipment
Total premises and equipment	13,995	13,413
Furniture and equipment
Premises and equipment
Total premises and equipment	$ 16,136	$ 14,354

Income Taxes - Components of in

Income Taxes - Components of income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current
Federal	$ 1,520	$ 1,941
State	432	870
Total current	1,952	2,811
Deferred income tax benefits (liabilities):
Federal	77	(708)
State	218	(380)
Total deferred	295	(1,088)
Income tax expense	$ 2,247	$ 1,723

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Federal corporate income tax rate	21.00%	21.00%
Reconciliation of tax computed at the Federal statutory income tax rate
Tax at Federal statutory income tax rate	$ 2,129	$ 1,690
Tax exempt income	(323)	(259)
Other	29	(95)
Noncontrolling interest	(102)
State income taxes, net of Federal tax benefit	514	387
Income tax expense	$ 2,247	$ 1,723

Income Taxes - Income taxes inc

Income Taxes - Income taxes included in balance sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred income tax assets:
Allowance for credit losses, unfunded commitments, and nonaccrual interest	$ 3,970	$ 3,530
Net operating loss carryforward	632	374
Accumulated amortization on intangibles	13	21
Lease liability	2,061	1,633
Net losses on other real estate owned	549	1,134
Stock option expense	23	25
Discounts on acquired loans	522	1,060
Merger costs	254
Realized gain or loss on investments	21	6
Other fair value adjustments	24	28
Other	53	58
Deferred tax assets, gross	8,122	7,869
Valuation allowance	(632)	(374)
Deferred tax assets, net	7,490	7,495
Deferred tax liabilities:
Accumulated depreciation	117	77
Accumulated amortization on core deposit intangible	489	650
Deferred gain	132	136
Net depreciation on securities available for sale	165	780
Right of use assets	1,872	1,457
Deferred tax liabilities	2,775	3,100
Net deferred income tax asset	$ 4,715	$ 4,395

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Time span over which net operating loss carryforwards, incurred prior to December 31, 2017, can be used to reduce future taxable income	20 years
Valuation allowance	$ 632	$ 374
Uncertain tax positions	0	$ 0
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 9,700

Deposits - Time deposits (Detai

Deposits - Time deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Time deposits and their remaining maturities
2022	$ 240,936
2023	74,459
2024	28,873
2025	17,186
2026	17,792
Thereafter	10
Total time deposits	$ 379,256	$ 429,010

Deposits - Interest expense on

Deposits - Interest expense on deposits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Interest expense on deposits
NOW	$ 441	$ 407
Money market	626	849
Savings	201	187
Time, $100,000 or more	3,565	4,974
Other time	1,843	3,010
Interest expense on deposits	$ 6,676	$ 9,427

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deposits
Certificates of Deposit of $250,000 or more	$ 83,300	$ 145,400
Deposit balances of officers and directors and their affiliated interests	20,400	18,100
Deposit accounts in overdraft position	124	87
CD Deposits (CDARS)	$ 1,600	$ 3,000

Other Income (Details)

Other Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Other Income
Bank-owned life insurance	$ 413	$ 264
Safe deposit box rentals	63	56
Mortgage division fees	831	650
Visa debit income	1,319	1,035
Other noninterest income	1,098	996
Other income	$ 3,724	$ 3,001

Borrowings and Notes Payable -

Borrowings and Notes Payable - Federal Home Loan Bank Advances (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)loan
Advances from Federal Home Loan Banks
Credit facility from FHLB	$ 409,000
Remaining credit availability	382,700
Principal balances outstanding on pledged loans	181,800	$ 178,600
Federal Home Loan Bank of Atlanta
Advances from Federal Home Loan Banks
Outstanding Balance	26,313	32,972
Average short-term borrowings	0	24,800
Short-term borrowings with the Federal Home Loan Bank	0	$ 0
Number of FHLB advances prepaid during the period | loan		1
Prepayment of advances		$ 10,000
Federal Home Loan Bank of Atlanta | Other Expenses
Advances from Federal Home Loan Banks
Prepayment penalty		116
Federal Home Loan Bank of Atlanta | FHLB 2.44% Fixed Rate Hybrid Advance Maturing April 2021
Advances from Federal Home Loan Banks
Outstanding Balance		$ 6,000
Interest rate		2.44%
Federal Home Loan Bank of Atlanta | FHLB 3.15% Fixed Rate Hybrid Advance Maturing October 2022
Advances from Federal Home Loan Banks
Outstanding Balance	$ 5,000	$ 5,000
Interest rate	3.15%	3.15%
Federal Home Loan Bank of Atlanta | FHLB 1.62% Principal Reducing Credit Advance Maturing March 2023
Advances from Federal Home Loan Banks
Outstanding Balance	$ 536	$ 964
Interest rate	1.62%	1.62%
Federal Home Loan Bank of Atlanta | FHLB 1.29% Fixed Rate Hybrid Advance 1 Maturing March 2024
Advances from Federal Home Loan Banks
Outstanding Balance	$ 9,900	$ 9,900
Interest rate	1.29%	1.29%
Federal Home Loan Bank of Atlanta | FHLB 1.29% Fixed Rate Hybrid Advance 2 Maturing March 2024
Advances from Federal Home Loan Banks
Outstanding Balance	$ 9,900	$ 9,900
Interest rate	1.29%	1.29%
Federal Home Loan Bank of Atlanta | FHLB 1.99% Principal Reducing Credit Advance Maturing March 2026
Advances from Federal Home Loan Banks
Outstanding Balance	$ 977	$ 1,208
Interest rate	1.99%	1.99%

Borrowings and Notes Payable _2

Borrowings and Notes Payable - Subordinated Loans (Details) - USD ($) $ in Millions	1 Months Ended
	Jun. 30, 2020	Jan. 31, 2018	Oct. 31, 2015
Subordinated loan maturing October 2025
Long-Term Obligations
Aggregate principal amount			$ 2
Interest rate			6.71%
Subordinated loan maturing April 2028
Long-Term Obligations
Aggregate principal amount		$ 4.5
Interest rate		6.875%
Subordinated Loan Maturing July 2030
Long-Term Obligations
Aggregate principal amount	$ 18.1
Interest rate	6.00%
Subordinated Loan Maturing July 2030 | 3-month SOFR
Long-Term Obligations
Basis spread on variable rate effective after July 1, 2025	5.90%

Borrowings and Notes Payable _3

Borrowings and Notes Payable - Partners Bank Debt (Details) - USD ($) $ in Thousands	Apr. 30, 2015	Dec. 14, 2012	Dec. 31, 2021	Dec. 31, 2020
Deed of Trust Loan
Long-Term Obligations
Amortization period	25 years
Interest rate	3.60%
Period contractual interest rate remains fixed	10 years
Deed of Trust Loan | 10 Year US Treasury (UST) Interest Rate
Long-Term Obligations
Basis spread on variable rate	3.00%
Virginia Partners Bank | 410 William Street, Fredericksburg, VA
Long-Term Obligations
Ownership percentage			50.00%
Ownership percentage acquired		50.00%
Virginia Partners Bank | 410 William Street, Fredericksburg, VA | Deed of Trust Loan
Long-Term Obligations
Percentage of the remaining deed of trust loan assumed		50.00%
Indemnification of debt obligations		$ 886
Outstanding debt balance			$ 655	$ 681
Loan discount			$ 20	$ 25

Borrowings and Notes Payable _4

Borrowings and Notes Payable - Secured Credit Facility (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Credit Facilities
Interest expense	$ 8,923	$ 12,215
Asset Pledged as Collateral
Credit Facilities
Amortized cost	11,110	8,938
Fair value	11,199	9,304
Secured Credit
Credit Facilities
Maximum borrowing capacity	5,000
Borrowing outstanding	0	0
Amortized cost	4	6
Fair value	5	6
Unsecured Credit
Credit Facilities
Maximum borrowing capacity	87,000
Federal Reserve Bank Discount Window
Credit Facilities
Borrowing outstanding	0	0
Federal Reserve Bank Discount Window | Asset Pledged as Collateral
Credit Facilities
Amortized cost	3,700	2,300
Fair value	3,700	2,400
Paycheck Protection Program Liquidity Fund (PPPLF)
Credit Facilities
Borrowing outstanding		$ 41,600
Fixed interest rate		0.35%
Johnson Mortgage Company LLC | Secured Credit
Credit Facilities
Maximum borrowing capacity	3,000
Borrowing outstanding	120	$ 142
Interest expense	$ 104	$ 119
Johnson Mortgage Company LLC | Secured Credit | LIBOR
Credit Facilities
Variable rate basis	one-month LIBOR
Basis spread on variable rate	2.25%
Rounding factor for effective interest rate	0.125%
Effective interest rate	3.00%

Borrowings and Notes Payable _5

Borrowings and Notes Payable - Maturities (Details) $ in Thousands	Dec. 31, 2021USD ($)
Maturities on debt
2022	$ 5,754
2023	314
2024	20,008
2025	210
2026	39
Thereafter	22,911
Total	$ 49,236

Profit Sharing Plan (Details)

Profit Sharing Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Defined contribution plans
Contribution amount	$ 380	$ 476
Delmarva 401(K) Plan
Defined contribution plans
Employer matching contribution (as a percent)	50.00%
Delmarva 401(K) Plan | Maximum
Defined contribution plans
Employees' gross pay for which the employer contributes a matching contribution (as a percent)	6.00%
Partners 401(K) Plan
Defined contribution plans
Employer matching contribution (as a percent)	50.00%
Partners 401(K) Plan | Maximum
Defined contribution plans
Employees' gross pay for which the employer contributes a matching contribution (as a percent)	6.00%
Partners Discretionary Profit Sharing Plan
Defined contribution plans
Employer contribution (as a percent)	3.00%

Lease Commitments - Lease Infor

Lease Commitments - Lease Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)lease
Leases
Number of lease locations	19
Number of operating leases	17
Number of finance leases	2
Options to renew	true
Renewal term of the lease	5 years
Maximum
Leases
Initial term of leases not recorded on the balance sheet	12 months
Threshold of discounted present value of future cash flows below which a lease is not recorded on the balance sheet | $	$ 25
Term of lease including available lease renewal options	15 years

Lease Commitments - Supplementa

Lease Commitments - Supplemental Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Balance Sheet
Right-of-use asset, operating lease	$ 6,009	$ 3,983
Lease liability, operating lease	6,372	4,301
Right-of-use asset, finance lease	1,687	1,824
Lease Liabilities, finance lease	2,125	2,242
Income Statement
Operating lease cost classified as premises and equipment	976	859
Finance lease cost classified as interest on borrowings	$ 62	$ 65
Lease cost information
Weighted average lease term - Operating Leases	7 years 11 months 26 days	8 years
Weighted average lease term - Finance Leases	12 years 1 month 2 days	13 years 1 month 2 days
Weighted average discount rate - Operating Leases	2.24%	2.74%
Weighted average discount rate - Finance Leases	2.84%	2.84%
Operating outgoing cash flows from operating leases	$ 884	$ 813
Operating outgoing cash flows from finance leases	$ 178	$ 178

Lease Commitments - Maturities

Lease Commitments - Maturities of lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Leases:
One year or less	$ 1,042
One to three years	1,668
Three to five years	1,172
Over 5 years	3,305
Total undiscounted cash flows	7,187
Less: Discount	(815)
Operating lease liabilities	6,372	$ 4,301
Finance Leases:
One year or less	178
One to three years	381
Three to five years	407
Over 5 years	1,569
Total undiscounted cash flows	2,535
Less: Discount	(410)
Lease Liabilities, finance lease	$ 2,125	$ 2,242

Other Operating Expenses (Detai

Other Operating Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Other Operating Expenses
Professional services	$ 769	$ 620
Stationary, printing and supplies	273	254
Postage and delivery	197	201
FDIC assessment	904	644
State bank assessment	66	82
Directors fees and expenses	742	608
Marketing	443	441
Correspondent bank services	122	117
ATM expenses	1,030	1,002
Telephones and mobile devices	806	755
Membership dues and fees	128	122
Legal fees	562	535
Audit and related professional fees	358	456
Insurance	267	265
Listing fees	58	114
Other	5,334	5,489
Other operating expenses	$ 12,059	$ 11,705

Stock Option Plans - Liberty St

Stock Option Plans - Liberty Stock Option Plan (Details) - Liberty 2004 Stock Option Plan - Stock options $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Feb. 28, 2018$ / sharesshares	Feb. 28, 2014	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020$ / sharesshares
Equity Compensation
Contractual life		10 years
Vesting period (in years)		5 years
Conversion ratio, stock based compensation	0.2857
Number of options converted	48,225
Exercise price of option converted | $ / shares	$ 1.18
Number of options outstanding after conversion	13,771
Shares
Outstanding at the beginning of year			7,681
Exercised			(1,920)
Outstanding at the end of year			5,761	7,681
Options exercisable at end of year			5,761
Weighted Average Exercise Price
Balance at the beginning of year | $ / shares			$ 4.14
Exercised | $ / shares	$ 4.14		4.14
Balance at the end of year | $ / shares			4.14	$ 4.14
Options exercisable at end of year | $ / shares			$ 4.14
Weighted-Average Remaining Contractual Life
Outstanding at beginning of year			1 year 2 months 23 days	2 years 2 months 23 days
Outstanding at end of year			1 year 2 months 23 days	2 years 2 months 23 days
Intrinsic Value | $			$ 32,607

Stock Option Plans - Partners S

Stock Option Plans - Partners Stock Option Plan (Details) - Partners Stock Option Plan - Stock options - $ / shares	Nov. 15, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015	Dec. 31, 2021	Dec. 31, 2020
Equity Compensation
Vesting period (in years)		3 years	3 years
Percentage of options vesting at the merger	100.00%
Number of options converted	149,200
Exercise price of option converted	$ 10.52
Number of options outstanding after conversion	256,294
Exercise price of option outstanding	$ 6.13				$ 6.40	$ 6.22
Conversion ratio, stock based compensation	1.7179
Maximum
Equity Compensation
Contractual life				10 years

Stock Option Plans - Partners_2

Stock Option Plans - Partners Stock Option Activity (Details) - Partners Stock Option Plan - Stock options - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Outstanding shares
Outstanding at the beginning of year	186,552
Exercised	(58,405)
Outstanding at the end of year	128,147	186,552
Options exercisable at end of year	128,147
Weighted Average Exercise Price
Balance at the beginning of year	$ 6.22
Exercised	5.83
Balance at the end of year	6.40	$ 6.22
Options exercisable at end of year	$ 6.40
Weighted-Average Remaining Contractual Life
Outstanding at beginning of year	3 years 2 months 4 days	3 years 5 months 19 days
Outstanding at end of year	3 years 2 months 4 days	3 years 5 months 19 days
Intrinsic Value	$ 435,823

Stock Option Plans - Valuation

Stock Option Plans - Valuation Assumptions (Details) - Stock options - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair value assumptions
Dividend yield			1.34%
Expected life			1 year 10 months 28 days
Expected volatility			4.34%
Risk-free interest rate			1.60%
Stock-based compensation expense recognized in earnings	$ 0	$ 0

Restricted Stock Plan (Details)

Restricted Stock Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018	Dec. 31, 2017
Shares
Non-vested balance at beginning of period (in shares)	0
Non-vested balance at end of period (in shares)	28,000	0
Restricted Stock Plan | Restricted stock
Stock options
Shares reserved for issuance	405,805
Weighted Average Grant Date Fair Value
Stock-based compensation expense recognized in earnings	$ 4	$ 14
Stock based compensation expense, net of tax	3	$ 11
Total unrecognized compensation cost related to non-vested restricted stock units	$ 0
Restricted Stock Plan | Restricted stock | Minimum
Stock options
Vesting period (in years)			2 years	2 years
Restricted Stock Plan | Restricted stock | Maximum
Stock options
Vesting period (in years)			3 years	3 years
Restricted Stock Plan | Employees | Restricted stock
Shares
Non-vested balance at beginning of period (in shares)	3,000
Granted (in shares)			9,000	5,000
Vested (in shares)	(3,000)
Non-vested balance at end of period (in shares)	0	3,000
Weighted Average Grant Date Fair Value
Non-vested balance at beginning of period (in dollars per share)	$ 7.30
Vested (in dollars per share)	$ 7.30
Non-vested balance at end of period (in dollars per share)		$ 7.30

Incentive Stock Plan (Details)

Incentive Stock Plan (Details) $ / shares in Units, $ in Thousands	Dec. 10, 2021shares	Oct. 27, 2021installmentshares	Oct. 21, 2021$ / shares	Oct. 12, 2021installment$ / sharesshares	Apr. 28, 2021employeeinstallment$ / sharesshares	Dec. 31, 2021USD ($)$ / sharesshares	May 19, 2021shares
Shares
Non-vested balance at beginning of period (in shares)						0
Non-vested balance at end of period (in shares)						28,000
2021 Incentive Stock Plan | Maximum
Equity Compensation
Shares authorized							1,250,000
2021 Incentive Stock Plan | Restricted stock
Nasdaq Listing Rule 5635(c)(4)
Number of equal vesting installments | installment				3
Shares
Awarded (in shares)				68,000
Vested (in shares)	(40,000)
Weighted Average Grant Date Fair Value
Awarded (in dollars per share) | $ / shares			$ 8.72	$ 8.99	$ 7.65
Stock-based compensation expense recognized in earnings | $						$ 1,100
Stock based compensation expense, net of tax | $						785
Total unrecognized compensation cost related to non-vested restricted stock units | $						$ 228
Weighted-average period over which unrecognized compensation cost will be recognized						2 years 4 months 24 days
2021 Incentive Stock Plan | Restricted stock | Directors
Nasdaq Listing Rule 5635(c)(4)
Number of equal vesting installments | installment		3
Shares
Awarded (in shares)		27,000
2021 Incentive Stock Plan | Restricted stock | Employees
Shares
Awarded (in shares)						153,824
Vested (in shares)						(125,824)
Non-vested balance at end of period (in shares)						28,000
Weighted Average Grant Date Fair Value
Awarded (in dollars per share) | $ / shares						$ 8.43
Vested (in dollars per share) | $ / shares						8.31
Non-vested balance at end of period (in dollars per share) | $ / shares						$ 8.99
Employment Inducement | Restricted stock | Employees
Nasdaq Listing Rule 5635(c)(4)
Number of employees granted shares | employee					2
Number of equal vesting installments | installment					3
Shares
Awarded (in shares)					58,824

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Basic EPS
Net Income Applicable to Basic Earnings Per Common Share	$ 7,411	$ 5,670
Weighted Average Shares Outstanding	17,789,987	17,805,835
Basic EPS	$ 0.417	$ 0.318
Effect of dilutive securities:
Effect of dilutive stock awards, shares	44,000	26,000
Diluted EPS
Net Income Applicable to Basic Earnings Per Common Share	$ 7,411	$ 5,670
Weighted Average Shares Outstanding	17,834,000	17,832,000
Diluted EPS	$ 0.416	$ 0.318

Regulatory Capital Requiremen_3

Regulatory Capital Requirements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Minimum | FDIC
Regulatory Capital Requirements
Common Equity Tier 1 Capital (to risk weighted assets), ratio (as a percent)	0.045
Tier 1 Capital (to risk weighted assets), ratio (as a percent)	0.060
Total Capital (to risk weighted assets), ratio (as a percent)	0.080
Tier 1 Leverage ratio (as a percent)	0.040
Basel III Capital Rules | FDIC
Regulatory Capital Requirements
Capital conservation buffer ratio	2.50%
Basel III Capital Rules | Minimum | FDIC
Regulatory Capital Requirements
Common Equity Tier 1 Capital (to risk weighted assets), ratio (as a percent)	0.070
Tier 1 Capital (to risk weighted assets), ratio (as a percent)	0.085
Total Capital (to risk weighted assets), ratio (as a percent)	0.105
Partners Bancorp
Regulatory Capital Requirements
Amount available for payment of dividends to stockholders without regulatory approval	$ 14.2
Subsidiaries
Regulatory Capital Requirements
Amount available for payment of dividends to stockholders without regulatory approval	$ 17.9

Regulatory Capital Requiremen_4

Regulatory Capital Requirements - Bank's capital amounts (Details) $ in Thousands	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
The Bank of Delmarva
Total Capital Ratio (To Risk Weighted Assets)
Actual	$ 91,928	$ 85,497
Actual, ratio	0.129	0.129
For Capital Adequacy Purposes	$ 74,963	$ 69,608
For Capital Adequacy Purposes, ratio	0.105	0.105
To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 71,394	$ 66,294
To Be Well Capitalized Under Prompt Corrective Action Provisions, ratio	0.100	0.100
Tier I Capital Ratio (To Risk Weighted Assets)
Actual	$ 82,972	$ 77,168
Actual, ratio	0.116	0.116
For Capital Adequacy Purposes	$ 60,684	$ 56,350
For Capital Adequacy Purposes, ratio	0.085	0.085
To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 57,115	$ 53,035
To Be Well Capitalized Under Prompt Corrective Action Provisions, ratio	0.080	0.080
Common Equity Tier I Ratio (To Risk Weighted Assets)
Actual	$ 82,972	$ 77,168
Actual, ratio	0.116	0.116
For Capital Adequacy Purposes	$ 49,975	$ 46,406
For Capital Adequacy Purposes, ratio	0.070	0.070
To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 46,406	$ 43,091
To Be Well Capitalized Under Prompt Corrective Action Provisions, ratio	0.065	0.065
Tier I Leverage Ratio (To Average Assets)
Actual	$ 82,972	$ 77,168
Actual, ratio	0.081	0.081
For Capital Adequacy Purposes	$ 40,926	$ 38,262
For Capital Adequacy Purposes, ratio	0.040	0.040
To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 51,158	$ 47,827
To Be Well Capitalized Under Prompt Corrective Action Provisions, ratio	0.050	0.050
Virginia Partners Bank
Total Capital Ratio (To Risk Weighted Assets)
Actual	$ 56,192	$ 51,971
Actual, ratio	0.120	0.135
For Capital Adequacy Purposes	$ 49,103	$ 40,381
For Capital Adequacy Purposes, ratio	0.105	0.105
To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 46,765	$ 38,459
To Be Well Capitalized Under Prompt Corrective Action Provisions, ratio	0.100	0.100
Tier I Capital Ratio (To Risk Weighted Assets)
Actual	$ 52,844	$ 50,271
Actual, ratio	0.113	0.131
For Capital Adequacy Purposes	$ 39,750	$ 32,690
For Capital Adequacy Purposes, ratio	0.085	0.085
To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 37,412	$ 30,767
To Be Well Capitalized Under Prompt Corrective Action Provisions, ratio	0.080	0.080
Common Equity Tier I Ratio (To Risk Weighted Assets)
Actual	$ 52,844	$ 50,271
Actual, ratio	0.113	0.131
For Capital Adequacy Purposes	$ 32,735	$ 26,921
For Capital Adequacy Purposes, ratio	0.070	0.070
To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 30,397	$ 24,998
To Be Well Capitalized Under Prompt Corrective Action Provisions, ratio	0.065	0.065
Tier I Leverage Ratio (To Average Assets)
Actual	$ 52,844	$ 50,271
Actual, ratio	0.085	0.095
For Capital Adequacy Purposes	$ 25,009	$ 21,253
For Capital Adequacy Purposes, ratio	0.040	0.040
To Be Well Capitalized Under Prompt Corrective Action Provisions	$ 31,261	$ 26,567
To Be Well Capitalized Under Prompt Corrective Action Provisions, ratio	0.050	0.050

Fair Values of Financial Inst_3

Fair Values of Financial Instruments - Estimated Fair Value and Related Carrying Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financial assets:
Restricted stock	$ 4,869	$ 5,445
Bank owned life insurance	18,254	14,841
Other real estate owned	837	2,677
Financial liabilities:
Subordinated notes payable	22,168	24,101
Other borrowings	755	42,382
Carrying Amount
Financial assets:
Cash and due from banks	12,887	13,643
Interest bearing deposits	297,902	218,667
Federal funds sold	28,040	50,301
Available for sale	122,021	124,925
Loans held for sale	4,064	9,858
Loans, net of allowance for credit losses	1,102,539	1,022,302
Accrued interest receivable	4,313	5,229
Restricted stock	4,869	5,445
Other investments	5,065	5,091
Bank owned life insurance	18,254	14,841
Other real estate owned	837	2,677
Financial liabilities:
Deposits	1,442,876	1,268,140
Accrued interest payable	280	402
FHLB advances	26,313	32,972
Subordinated notes payable	22,168	24,101
Other borrowings	755	42,382
Estimated Fair Value
Financial assets:
Cash and due from banks	12,887	13,643
Interest bearing deposits	297,902	218,667
Federal funds sold	28,040	50,301
Available for sale	122,021	124,925
Loans held for sale	4,064	9,858
Loans, net of allowance for credit losses	1,089,812	1,018,649
Accrued interest receivable	4,313	5,229
Restricted stock	4,869	5,445
Other investments	5,065	5,091
Bank owned life insurance	18,254	14,841
Other real estate owned	837	2,677
Financial liabilities:
Deposits	1,443,864	1,275,032
Accrued interest payable	280	402
FHLB advances	27,007	34,945
Subordinated notes payable	30,091	34,810
Other borrowings	755	41,585
Level 1 | Estimated Fair Value
Financial assets:
Cash and due from banks	12,887	13,643
Interest bearing deposits	297,902	218,667
Federal funds sold	28,040	50,301
Level 2 | Estimated Fair Value
Financial assets:
Available for sale	122,021	124,925
Loans held for sale	4,064	9,858
Accrued interest receivable	4,313	5,229
Restricted stock	4,869	5,445
Other investments	5,065	5,091
Bank owned life insurance	18,254	14,841
Financial liabilities:
Deposits	1,063,619	839,122
Accrued interest payable	280	402
FHLB advances	27,007	34,147
Subordinated notes payable	30,091	34,810
Other borrowings		41,585
Level 3 | Estimated Fair Value
Financial assets:
Loans, net of allowance for credit losses	1,089,812	1,018,649
Other real estate owned	837	2,677
Financial liabilities:
Deposits	380,245	435,910
FHLB advances		$ 798
Other borrowings	$ 755

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - Measured on a recurring basis - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Securities available for sale:
Total securities available for sale	$ 122,021	$ 124,925
Obligations of U.S. Government agencies
Securities available for sale:
Total securities available for sale	6,451	6,883
Obligations of States and political subdivisions
Securities available for sale:
Total securities available for sale	31,126	38,123
Mortgage-backed securities
Securities available for sale:
Total securities available for sale	82,403	75,876
Subordinated debt investments
Securities available for sale:
Total securities available for sale	2,041	4,043
Level 2
Securities available for sale:
Total securities available for sale	122,021	124,925
Level 2 | Obligations of U.S. Government agencies
Securities available for sale:
Total securities available for sale	6,451	6,883
Level 2 | Obligations of States and political subdivisions
Securities available for sale:
Total securities available for sale	31,126	38,123
Level 2 | Mortgage-backed securities
Securities available for sale:
Total securities available for sale	82,403	75,876
Level 2 | Subordinated debt investments
Securities available for sale:
Total securities available for sale	$ 2,041	$ 4,043

Fair Value Measurements - Non-r

Fair Value Measurements - Non-recurring Basis (Details) - Fair Value, Nonrecurring $ in Thousands	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Securities available for sale:
Fair Value, assets	$ 5,490	$ 5,258
Impaired Loans
Securities available for sale:
Fair Value, assets	4,653	2,581
OREO
Securities available for sale:
Fair Value, assets	837	2,677
Level 3
Securities available for sale:
Fair Value, assets	5,490	5,258
Level 3 | Impaired Loans
Securities available for sale:
Fair Value, assets	$ 4,653	$ 2,581
Debt Instrument, Measurement Input	0.08	0.08
Debt Instrument, Valuation Technique [Extensible List]	us-gaap:ValuationTechniqueConsensusPricingModelMember	us-gaap:ValuationTechniqueConsensusPricingModelMember
Level 3 | OREO
Securities available for sale:
Fair Value, assets	$ 837	$ 2,677
Other Real Estate Owned, Valuation Technique [Extensible List]	us-gaap:ValuationTechniqueConsensusPricingModelMember	us-gaap:ValuationTechniqueConsensusPricingModelMember
Level 3 | OREO | Minimum
Securities available for sale:
Other Real Estate Owned, Measurement Input	0.08	0.08
Level 3 | OREO | Maximum
Securities available for sale:
Other Real Estate Owned, Measurement Input	0.10	0.10

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Changes in goodwill
Balance at beginning of the period	$ 9,391
Balance at end of the period	9,582
Virginia Partners Bank
Changes in goodwill
Measurement period adjustments	$ 191

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Core Deposit Intangible (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Changes in the core deposit intangible
Balance at the beginning of the period	$ 2,660
Amortization	(600)	$ (713)
Balance at the end of the period	2,060	2,660
Core deposit intangible
Changes in the core deposit intangible
Balance at the beginning of the period	2,660	3,373
Amortization	(600)	(713)
Balance at the end of the period	$ 2,060	$ 2,660
Liberty Bell Bank | Core deposit intangible
Intangibles
Amortization period	7 years
Virginia Partners Bank | Core deposit intangible
Intangibles
Amortization period	120 months

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Core Deposit Intangible Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Remaining amortization
Total	$ 2,060	$ 2,660
Core deposit intangible
Remaining amortization
2022	520
2023	467
2024	415
2025	246
2026	182
Thereafter	230
Total	$ 2,060	$ 2,660	$ 3,373

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Deposits Purchased Premium and Discount (Details) - Deposits Purchased Premium (Discount) Net - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Deposits Purchased Premium (Discount)
Accretion period	5 years
Balance at beginning of period	$ (23)	$ (31)
Accretion	(14)	(8)
Balance at end of period	$ (9)	$ (23)

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Deposits Purchased Premium and Discount, Amortization and Accretion (Details) - Deposits Purchased Premium (Discount) Net - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Remaining accretion
2022	$ 6
2023	2
2024	1
Net deposit discount	$ 9	$ 23	$ 31

Goodwill and Intangible Asset_7

Goodwill and Intangible Assets - Effect of Acquisition Accounting Adjustments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Intangibles
Net impact of income before taxes	$ 880	$ 1,007
Loans Payable
Intangibles
Net impact of income before taxes	(5)	(6)
Core deposit intangible
Intangibles
Net impact of income before taxes	(600)	(713)
Loans
Intangibles
Net impact of income before taxes	1,499	1,734
Time Deposits
Intangibles
Net impact of income before taxes	$ (14)	$ (8)

Parent Company Financial Info_3

Parent Company Financial Information - Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Other assets	$ 3,960	$ 3,359
Total assets	1,644,979	1,514,221
LIABILITIES
Other liabilities	2,722	2,986
Subordinated notes payable, net	22,168	24,101
Total liabilities	1,503,611	1,377,526
Stockholders' equity:
Common stock, par value $.01, authorized 40,000,000 shares, issued and outstanding 17,941,604 as of December 31, 2021 and 17,758,448 as of December 31, 2020, including 28,000 nonvested shares as of December 31, 2021 and 0 nonvested shares as of December 31, 2020	179	178
Surplus	88,390	87,200
Retained earnings	51,305	45,673
Noncontrolling interest in consolidated subsidiaries	1,179	1,346
Accumulated other comprehensive income, net of tax	315	2,298
Total liabilities and stockholders' equity	1,644,979	1,514,221
Partners Bancorp
Assets
Cash	14,686	17,579
Investment in subsidiaries, at equity	147,378	141,979
Other assets	2,276	2,000
Total assets	164,340	161,558
LIABILITIES
Other liabilities	22,168	24,101
Subordinated notes payable, net	804	762
Total liabilities	22,972	24,863
Stockholders' equity:
Common stock, par value $.01, authorized 40,000,000 shares, issued and outstanding 17,941,604 as of December 31, 2021 and 17,758,448 as of December 31, 2020, including 28,000 nonvested shares as of December 31, 2021 and 0 nonvested shares as of December 31, 2020	179	178
Surplus	88,390	87,200
Retained earnings	51,305	45,673
Noncontrolling interest in consolidated subsidiaries	1,179	1,346
Accumulated other comprehensive income, net of tax	315	2,298
Total stockholders' equity	141,368	136,695
Total liabilities and stockholders' equity	$ 164,340	$ 161,558

Parent Company Financial Info_4

Parent Company Financial Information - Balance Sheets Additional Information (Details) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	17,941,604	17,758,448
Common stock, shares outstanding	17,941,604	17,758,448
Nonvested shares	28,000	0
Partners Bancorp
BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	17,941,604	17,758,448
Common stock, shares outstanding	17,941,604	17,758,448
Nonvested shares	28,000	0

Parent Company Financial Info_5

Parent Company Financial Information - Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
STATEMENTS OF INCOME
Interest expense on borrowings	$ (2,247)	$ (2,788)
Other expenses, net	(5,334)	(5,489)
INCOME BEFORE TAXES ON INCOME	10,142	8,046
Income tax benefits(1)	(2,247)	(1,723)
NET INCOME ATTRIBUTABLE TO PARTNERS BANCORP	7,411	5,670
Partners Bancorp
STATEMENTS OF INCOME
Dividends from subsidiaries	3,242	2,784
Interest on deposit accounts	29	5
Interest expense on borrowings	(1,464)	(1,009)
Other expenses, net	(2,557)	(1,339)
INCOME BEFORE TAXES ON INCOME	(750)	441
Income tax benefits(1)	615	566
Equity in undistributed net income of subsidiaries	7,546	4,663
NET INCOME ATTRIBUTABLE TO PARTNERS BANCORP	$ 7,411	$ 5,670

Parent Company Financial Info_6

Parent Company Financial Information - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net income	$ 7,411	$ 5,670
Adjustments to reconcile net income to net cash used in operating activities:
Amortization	1,006	773
Stock-based compensation expense, net of employee tax obligation	1,072	14
Changes in assets and liabilities:
Increase in other assets	526	(649)
Increase in other liabilities	(1,209)	(218)
Net cash provided by operating activities	18,512	2,359
Investing activities
Net cash used in investing activities	(84,781)	(70,020)
Financing activities
Dividends paid	(1,779)	(1,782)
Decrease in subordinated notes payable	(50,290)	(5,094)
Cash paid for stock repurchases	(209)	(445)
Cash received for the exercise of warrants		10
Cash received for the exercise of stock options	328	184
Net cash provided by financing activities	122,487	255,161
Net increase (decrease) in cash	56,218	187,500
Cash and cash equivalents, beginning of period	282,611	95,111
Cash and cash equivalents, ending of period	338,829	282,611
Partners Bancorp
Operating activities
Net income	7,411	5,670
Adjustments to reconcile net income to net cash used in operating activities:
Equity in undistributed net income of subsidiaries	(7,546)	(4,663)
Amortization	67	29
Stock-based compensation expense, net of employee tax obligation	1,072	14
Changes in assets and liabilities:
Increase in other assets	(278)	(327)
Increase in other liabilities	41	147
Net cash provided by operating activities	767	870
Investing activities
Downstream of capital to subsidiary		(3,000)
Net cash used in investing activities		(3,000)
Financing activities
Dividends paid	(1,779)	(1,782)
Proceeds from subordinated notes payable		17,637
Decrease in subordinated notes payable	(2,000)
Cash paid for stock repurchases	(209)	(445)
Cash received for the exercise of warrants		10
Cash received for the exercise of stock options	328	184
Net cash provided by financing activities	(3,660)	15,604
Net increase (decrease) in cash	(2,893)	13,474
Cash and cash equivalents, beginning of period	17,579	4,105
Cash and cash equivalents, ending of period	$ 14,686	$ 17,579

Transaction with OceanFirst F_2

Transaction with OceanFirst Financial Corporation (Details) - $ / shares	Nov. 04, 2021	Dec. 31, 2021	Dec. 31, 2020
Merger transaction
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
OceanFirst Bank | Partners Bancorp
Merger transaction
Shares to be received by shareholders for each share exchanged under stock election	0.4512
Common stock, par value (in dollars per share)	$ 0.01
Cash price per share to be received by shareholders if a cash exchange is elected	$ 10
OceanFirst Bank | Partners Bancorp | Maximum
Merger transaction
Percentage limit of common stock that can be exchanged for cash by shareholders	40.00%