Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 28, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | UWHARRIE CAPITAL CORP | |
Entity Central Index Key | 0000898171 | |
Entity Current Reporting Status | Yes | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Shell Company | false | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 6,945,231 | |
Entity File Number | 000-22062 | |
Entity Tax Identification Number | 56-1814206 | |
Entity Address, Address Line One | 132 NORTH FIRST STREET | |
Entity Address, City or Town | ALBEMARLE | |
Entity Address, State or Province | NC | |
Entity Address, Postal Zip Code | 28001 | |
City Area Code | 704 | |
Local Phone Number | 983-6181 | |
Entity Interactive Data Current | Yes | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Incorporation, State or Country Code | NC |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 4,015 | $ 6,301 |
Interest-earning deposits with banks | 112,059 | 82,567 |
Cash and cash equivalents | 116,074 | 88,868 |
Securities available for sale, at fair value | 291,049 | 191,513 |
Securities held to maturity, at amortized cost (fair value $29,687 and $29,600, respectively) | 28,588 | 28,207 |
Equity security, at fair value | 409 | 1,352 |
Loans held for sale | 9,737 | 6,959 |
Loans: | ||
Loans held for investment | 432,335 | 467,741 |
Less allowance for loan losses | (3,670) | (4,402) |
Net loans held for investment | 428,665 | 463,339 |
Premises and equipment, net | 16,149 | 16,982 |
Interest receivable | 2,679 | 2,524 |
Restricted stock | 921 | 1,166 |
Bank-owned life insurance | 9,033 | 8,936 |
Prepaid assets | 879 | 1,146 |
Loan servicing assets | 5,125 | 3,957 |
Mortgage banking derivatives | 1,196 | 2,073 |
Other assets | 10,482 | 10,748 |
Total assets | 920,986 | 827,770 |
Deposits: | ||
Demand noninterest-bearing | 243,686 | 205,788 |
Interest checking and money market accounts | 404,484 | 381,502 |
Savings deposits | 93,290 | 74,792 |
Time deposits, $250,000 and over | 24,363 | 28,825 |
Other time deposits | 47,501 | 52,289 |
Total deposits | 813,324 | 743,196 |
Short-term borrowed funds | 1,130 | 710 |
Long-term debt | 29,511 | 10,992 |
Interest payable | 69 | 21 |
Mortgage banking derivatives | 388 | |
Other liabilities | 14,791 | 13,226 |
Total liabilities | 858,825 | 768,533 |
Off balance sheet items, commitments and contingencies (Note 10) | ||
SHAREHOLDERS’ EQUITY | ||
Common stock, $1.25 par value: 20,000,000 shares authorized; shares issued and outstanding 6,949,634 and 7,052,143, at September 30, 2021 and December 31, 2020, respectively | 8,687 | 8,815 |
Common stock dividend distributable | 261 | |
Additional paid-in capital | 13,550 | 12,607 |
Undivided profits | 29,558 | 23,000 |
Accumulated other comprehensive income (loss) | (550) | 4,160 |
Total Uwharrie Capital Corp shareholders’ equity | 51,506 | 48,582 |
Noncontrolling interest | 10,655 | 10,655 |
Total shareholders’ equity | 62,161 | 59,237 |
Total liabilities and shareholders’ equity | $ 920,986 | $ 827,770 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Statement Of Financial Position [Abstract] | ||
Securities held to maturity, at amortized cost, fair value | $ 29,687 | $ 29,600 |
Common stock, par value | $ 1.25 | $ 1.25 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 6,949,634 | 7,052,143 |
Common stock, shares outstanding | 6,949,634 | 7,052,143 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Interest Income | ||||
Loans, including fees | $ 6,242 | $ 5,190 | $ 17,639 | $ 14,774 |
Investment securities | ||||
U.S. Treasury | 32 | 8 | 32 | 74 |
U.S. Government agencies and corporations | 406 | 427 | 1,258 | 1,153 |
State and political subdivisions, non-taxable | 473 | 215 | 957 | 509 |
State and political subdivisions, taxable | 138 | 276 | 793 | 545 |
Equity Securities | 5 | 34 | 15 | 34 |
Interest-earning deposits with banks and federal funds sold | 53 | 26 | 96 | 616 |
Total interest income | 7,349 | 6,176 | 20,790 | 17,705 |
Interest Expense | ||||
Interest checking and money market accounts | 105 | 140 | 292 | 618 |
Savings deposits | 18 | 14 | 48 | 49 |
Time deposits, $250,000 and over | 17 | 35 | 63 | 335 |
Other time deposits | 36 | 123 | 159 | 410 |
Short-term borrowed funds | 1 | 3 | 2 | |
Long-term debt | 190 | 142 | 458 | 417 |
Total interest expense | 367 | 454 | 1,023 | 1,831 |
Net interest income | 6,982 | 5,722 | 19,767 | 15,874 |
Provision for (recovery of) loan losses | (1,057) | 1,066 | (1,232) | 2,465 |
Net interest income after provision for (recovery of) loan losses | 8,039 | 4,656 | 20,999 | 13,409 |
Noninterest Income | ||||
Service charges on deposit accounts | 253 | 241 | 735 | 763 |
Gain on sale of securities | 19 | 991 | 77 | |
Realized/unrealized gain (loss) on equity securities | (2) | 101 | (14) | 434 |
Income from mortgage banking | 2,323 | 3,961 | 9,498 | 8,727 |
Supplemental executive retirement plan gain (loss) | 786 | 115 | 1,125 | (11) |
Other income (expense) | 97 | 255 | 415 | 439 |
Total noninterest income | 4,560 | 5,546 | 15,841 | 12,980 |
Noninterest Expense | ||||
Salaries and employee benefits | 5,833 | 5,254 | 16,455 | 14,708 |
Net occupancy expense | 433 | 430 | 1,319 | 1,261 |
Equipment expense | 192 | 202 | 529 | 564 |
Data processing costs | 170 | 171 | 500 | 491 |
Loan costs | 192 | 155 | 689 | 409 |
Professional fees and services | 239 | 313 | 707 | 716 |
Marketing and donations | 215 | 294 | 1,036 | 705 |
Electronic banking expense | 101 | 120 | 285 | 346 |
Software amortization and maintenance | 335 | 352 | 1,058 | 916 |
FDIC insurance | 69 | 108 | 177 | 216 |
Supplemental executive retirement plan gain (loss) | 786 | 115 | 1,125 | (11) |
Other noninterest expense | 618 | 488 | 1,700 | 1,424 |
Total noninterest expense | 9,183 | 8,002 | 25,580 | 21,745 |
Income before income taxes | 3,416 | 2,200 | 11,260 | 4,644 |
Income taxes | 732 | 618 | 2,389 | 1,132 |
Net income | 2,684 | 1,582 | 8,871 | 3,512 |
Less: net income attributable to noncontrolling interest | (142) | (142) | (422) | (424) |
Net income attributable to Uwharrie Capital Corp and common shareholders | $ 2,542 | $ 1,440 | $ 8,449 | $ 3,088 |
Net income per common share | ||||
Basic | $ 0.35 | $ 0.20 | $ 1.17 | $ 0.42 |
Diluted | $ 0.35 | $ 0.20 | $ 1.17 | $ 0.42 |
Weighted average shares outstanding | ||||
Basic | 7,168,405 | 7,319,100 | 7,218,109 | 7,360,295 |
Diluted | 7,168,405 | 7,319,100 | 7,218,109 | 7,360,295 |
Interchange and Card Transaction Fees, Net [Member] | ||||
Noninterest Income | ||||
Noninterest income fees | $ 261 | $ 266 | $ 819 | $ 640 |
Other Services and Commissions [Member] | ||||
Noninterest Income | ||||
Noninterest income fees | $ 842 | $ 588 | $ 2,272 | $ 1,911 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 2,684 | $ 1,582 | $ 8,871 | $ 3,512 |
Unrealized gain (loss) on available for sale securities | (2,354) | 333 | (5,126) | 4,080 |
Related tax effect | 535 | (78) | 1,197 | (938) |
Reclassification of gain recognized in net income | (19) | (991) | (77) | |
Related tax effect | 6 | 6 | 210 | 17 |
Total other comprehensive income (loss) | (1,813) | 242 | (4,710) | 3,082 |
Comprehensive income | 871 | 1,824 | 4,161 | 6,594 |
Less: Comprehensive income attributable to noncontrolling interest | (142) | (142) | (422) | (424) |
Comprehensive income attributable to Uwharrie Capital Corp | $ 729 | $ 1,682 | $ 3,739 | $ 6,170 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Series B [Member] | Series C [Member] | Number of Common Shares Issued [Member] | Common Stock [Member] | Common Stock Dividend Distributable [Member] | Additional Paid-in Capital [Member] | Undivided Profits [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] | Noncontrolling Interest [Member]Series B [Member] | Noncontrolling Interest [Member]Series C [Member] |
Beginning balance at Dec. 31, 2019 | $ 48,858 | $ 8,870 | $ 12,784 | $ 16,226 | $ 323 | $ 10,655 | ||||||
Beginning balance, shares at Dec. 31, 2019 | 7,095,920 | |||||||||||
Net Income | 3,512 | 3,088 | 424 | |||||||||
Stock dividend declaration | $ 174 | 540 | (714) | |||||||||
Repurchase and retirement of common stock | (736) | (168) | (568) | |||||||||
Repurchase and retirement of common stock, shares | (134,690) | |||||||||||
Other comprehensive income (loss) | 3,082 | 3,082 | ||||||||||
Record preferred stock dividend (noncontrolling interest) | $ (313) | $ (111) | $ (313) | $ (111) | ||||||||
Ending balance at Sep. 30, 2020 | 54,292 | 8,702 | 174 | 12,756 | 18,600 | 3,405 | 10,655 | |||||
Ending balance, shares at Sep. 30, 2020 | 6,961,230 | |||||||||||
Beginning balance at Jun. 30, 2020 | 52,655 | 8,713 | 12,250 | 17,874 | 3,163 | 10,655 | ||||||
Beginning balance, shares at Jun. 30, 2020 | 6,970,141 | |||||||||||
Net Income | 1,582 | 1,440 | 142 | |||||||||
Stock dividend declaration | 174 | 540 | (714) | |||||||||
Repurchase and retirement of common stock | (45) | (11) | (34) | |||||||||
Repurchase and retirement of common stock, shares | (8,911) | |||||||||||
Other comprehensive income (loss) | 242 | 242 | ||||||||||
Record preferred stock dividend (noncontrolling interest) | (105) | (37) | (105) | (37) | ||||||||
Ending balance at Sep. 30, 2020 | 54,292 | 8,702 | 174 | 12,756 | 18,600 | 3,405 | 10,655 | |||||
Ending balance, shares at Sep. 30, 2020 | 6,961,230 | |||||||||||
Beginning balance at Dec. 31, 2020 | 59,237 | 8,815 | 12,607 | 23,000 | 4,160 | 10,655 | ||||||
Beginning balance, shares at Dec. 31, 2020 | 7,052,143 | |||||||||||
Net Income | 8,871 | 8,449 | 422 | |||||||||
Stock dividend declaration | 261 | 1,630 | (1,891) | |||||||||
Repurchase and retirement of common stock | (815) | (128) | (687) | |||||||||
Repurchase and retirement of common stock, shares | (102,509) | |||||||||||
Other comprehensive income (loss) | (4,710) | (4,710) | ||||||||||
Record preferred stock dividend (noncontrolling interest) | (311) | (111) | (311) | (111) | ||||||||
Ending balance at Sep. 30, 2021 | 62,161 | 8,687 | 261 | 13,550 | 29,558 | (550) | 10,655 | |||||
Ending balance, shares at Sep. 30, 2021 | 6,949,634 | |||||||||||
Beginning balance at Jun. 30, 2021 | 61,560 | 8,705 | 12,030 | 28,907 | 1,263 | 10,655 | ||||||
Beginning balance, shares at Jun. 30, 2021 | 6,964,242 | |||||||||||
Net Income | 2,684 | 2,542 | 142 | |||||||||
Stock dividend declaration | 261 | 1,630 | (1,891) | |||||||||
Repurchase and retirement of common stock | (128) | (18) | (110) | |||||||||
Repurchase and retirement of common stock, shares | (14,608) | |||||||||||
Other comprehensive income (loss) | (1,813) | (1,813) | ||||||||||
Record preferred stock dividend (noncontrolling interest) | $ (105) | $ (37) | $ (105) | $ (37) | ||||||||
Ending balance at Sep. 30, 2021 | $ 62,161 | $ 8,687 | $ 261 | $ 13,550 | $ 29,558 | $ (550) | $ 10,655 | |||||
Ending balance, shares at Sep. 30, 2021 | 6,949,634 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) | Sep. 30, 2021 | Oct. 20, 2020 | Sep. 30, 2020 |
Statement Of Stockholders Equity [Abstract] | |||
Stock dividend, percentage | 3.00% | 2.00% | 2.00% |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flows from operating activities | ||
Net income | $ 8,871 | $ 3,512 |
Adjustments to reconcile net income to net cash provided (used) by operating activities: | ||
Depreciation and amortization | 845 | 857 |
Right of use asset amortization | 252 | 246 |
Provision for (recovery of) loan losses | (1,232) | 2,465 |
Gain on sale of securities available for sale | (991) | (77) |
Gain on sale of mortgage loans | 7,345 | 6,032 |
(Gain) loss on sale of premises and equipment | (41) | 16 |
Gain on sale of OREO | (53) | |
OREO write-downs | 21 | |
Realized/unrealized (gain) loss on equity securities | 14 | (434) |
Net amortization of premium on investment securities available for sale | 963 | 387 |
Net amortization of premium on investment securities held to maturity | 116 | 108 |
Amortization of loan servicing rights | 1,153 | 2,222 |
Originations and purchases of mortgage loans for sale | (273,575) | (232,471) |
Proceeds from sales of mortgage loans for sale | 263,452 | 219,360 |
Mortgage banking derivatives | 489 | (252) |
Loan servicing assets | (2,322) | (2,248) |
Accrued interest receivable | (156) | (781) |
Prepaid assets | 267 | (286) |
Cash surrender value of life insurance | (97) | (105) |
Miscellaneous other assets | 881 | (463) |
Accrued interest payable | 48 | (28) |
Miscellaneous other liabilities | 1,565 | 887 |
Net cash provided (used) by operating activities | 7,847 | (1,085) |
Cash flows from investing activities | ||
Proceeds from sales of investment securities available for sale | 49,280 | 13,155 |
Proceeds from sale of equity securities | 929 | |
Proceeds from maturities, calls and paydowns of securities available for sale | 15,363 | 7,593 |
Proceeds from maturities, calls and paydowns of securities held to maturity | 2,253 | 5,656 |
Purchase of investment securities available for sale | (170,268) | (107,113) |
Purchase of investment securities held to maturity | (2,750) | (18,580) |
Purchase of equity securities | (901) | |
Purchase of investments in other assets | (326) | (1,100) |
Proceeds from sales of investments in other assets | 1,120 | |
Net change in restricted stock | 245 | (22) |
Net (increase) decrease in loans | 35,906 | (109,728) |
Purchase of premises and equipment | (559) | (449) |
Proceeds from sale of premises and equipment | 336 | |
Proceeds from sale of OREO | 167 | |
Net cash used by investing activities | (68,471) | (211,322) |
Cash flows from financing activities | ||
Net increase in deposit accounts | 70,128 | 127,809 |
Net increase in federal funds purchased and other short-term borrowings | 420 | 9 |
Proceeds from long-term borrowings | 20,000 | 1,000 |
Debt issuance costs | (481) | |
Repayment of long-term borrowings | (1,000) | |
Repurchase of common stock, net | (815) | (736) |
Dividends paid on preferred stock (noncontrolling interest) | (422) | (424) |
Net cash provided by financing activities | 87,830 | 127,658 |
Increase (decrease) in cash and cash equivalents | 27,206 | (84,749) |
Cash and cash equivalents, beginning of period | 88,868 | 155,198 |
Cash and cash equivalents, end of period | 116,074 | 70,449 |
Supplemental disclosures of cash flow information | ||
Interest paid | 975 | 1,749 |
Income taxes paid | 1,727 | 1,327 |
Supplemental schedule of non-cash activities | ||
Net change in fair value of securities available for sale, net of tax | $ (4,710) | 3,082 |
Company financed OREO | $ 90 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | Note 1 – Basis of Presentation The financial statements and accompanying notes are presented on a consolidated basis including Uwharrie Capital Corp (the “Company”) and its subsidiaries, Uwharrie Bank (the “Bank”), Uwharrie Investment Advisors, Inc. (“UIA”), and Uwharrie Mortgage, Inc. The Bank consolidates its subsidiaries, the Strategic Alliance Corporation, BOS Agency, Inc. and Gateway Mortgage, Inc., each of which is wholly owned by the Bank. The information contained in the consolidated financial statements is unaudited. In the opinion of management, the consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and material adjustments necessary for a fair presentation of results of interim periods, all of which are of a normal recurring nature, have been made. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for an entire year. Management continues to evaluate the impact of COVID-19, the disease caused by the novel Coronavirus, beyond the current impacts as of September 30, 2021, which are discussed throughout the accompanying notes of this report. Management is not aware of additional economic events, outside influences or changes in concentrations of business that would require additional clarification or disclosure in the consolidated financial statements. The organization and business of the Company, accounting policies followed by the Company and other information are contained in the notes to consolidated financial statements filed as part of the Company’s 2020 Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on March 5, 2021. This Quarterly Report should be read in conjunction with such Annual Report. Use of Estimates The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. Accounting Changes, Reclassifications and Restatements Certain amounts in the 2020 financial statements have been reclassified to conform to the 2021 presentation. These reclassifications did not have an impact on net income or shareholders’ equity. |
Comprehensive Income (Loss)
Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Comprehensive Income (Loss) | Note 2 – Comprehensive Income (Loss) The Company reports as comprehensive income all changes in shareholders’ equity during the year from sources other than shareholders. Other comprehensive income refers to all components (revenues, expenses, gains, and losses) of comprehensive income that are excluded from net income. The Company’s only component of other comprehensive income is unrealized gains and losses, net of income tax, on investment securities available for sale. The following table presents the changes in accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2021 and 2020: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Beginning balance $ 1,263 $ 3,163 $ 4,160 $ 323 Other comprehensive income (loss) before reclassifications, net of $536, ($78), $1,197 and ($938) tax effect, respectively (1,819 ) 255 (3,929 ) 3,142 Amounts reclassified from accumulated other comprehensive income, net of $6, $6, $210 and $17 tax effect, respectively 6 (13 ) (781 ) (60 ) Net current-period other comprehensive income (loss) (1,813 ) 242 (4,710 ) 3,082 Ending balance $ (550 ) $ 3,405 $ (550 ) $ 3,405 |
Noncontrolling Interest
Noncontrolling Interest | 9 Months Ended |
Sep. 30, 2021 | |
Noncontrolling Interest [Abstract] | |
Noncontrolling Interest | Note 3 – Noncontrolling Interest In 2013, the Company’s subsidiary bank issued a total of $10.7 million of Fixed Rate Noncumulative Perpetual Preferred Stock, Series B and Series C. The preferred stock qualifies as Tier 1 capital at the bank and pays dividends at an annual rate of 5.30%. The preferred stock has no voting rights. This capital is presented as noncontrolling interest in the consolidated balance sheets. Dividends declared on this preferred stock are presented as earnings allocated to the noncontrolling interest in the consolidated statements of income. |
Per Share Data
Per Share Data | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Per Share Data | Note 4 – Per Share Data On October 19, 2021, the Company’s Board of Directors declared a 3% stock dividend payable on November 23, 2021 to shareholders of record on November 9, 2021. All information presented in the accompanying interim consolidated financial statements regarding earnings per share and weighted average number of shares outstanding has been computed giving effect to this stock dividend. Basic and diluted net income per common share is computed based on the weighted average number of shares outstanding during each period after retroactively adjusting for stock dividends. Diluted net income per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net income of the Company. The Company had no stock options outstanding at September 30, 2021 or December 31, 2020. Basic and diluted net income per common share have been computed based upon net income available to common shareholders as presented in the accompanying consolidated statements of income divided by the weighted average number of common shares outstanding or assumed to be outstanding. The weighted average number of common shares outstanding was 7,168,405 for the three-month period ended September 30, 2021 compared to 7,319,100 for the three-month period ended September 30, 2020. For the nine-month period ended September 30, 2021, the weighted average common shares outstanding was 7,218,109 compared to 7,360,295 for the nine-month period ended September 30, 2020. |
Investment and Equity Securitie
Investment and Equity Securities | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Investment and Equity Securities | Note 5 – Investment and Equity Securities Carrying amounts and fair values of securities available for sale and held to maturity are summarized below: September 30, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Treasury $ 16,671 $ — $ 248 $ 16,423 U.S. Government agencies 39,776 228 437 39,567 GSE - Mortgage-backed securities and CMO’s 101,639 328 982 100,985 Asset-backed securities 36,349 1,214 1 37,562 State and political subdivisions 87,407 781 1,757 86,431 Corporate bonds 9,921 191 31 10,081 Total securities available for sale $ 291,763 $ 2,742 $ 3,456 $ 291,049 September 30, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 175 $ 4 $ — $ 179 State and political subdivisions 15,663 935 — 16,598 Corporate bonds 12,750 198 38 12,910 Total securities held to maturity $ 28,588 $ 1,137 $ 38 $ 29,687 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Government agencies $ 36,804 $ 611 $ 26 $ 37,389 GSE - Mortgage-backed securities and CMO’s 39,720 1,844 68 41,496 Asset-backed securities 38,536 748 3 39,281 State and political subdivisions 67,148 2,107 91 69,164 Corporate bonds 3,902 281 — 4,183 Total securities available for sale $ 186,110 $ 5,591 $ 188 $ 191,513 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 459 $ 11 $ — $ 470 State and political subdivisions 17,748 1,382 — 19,130 Corporate bonds 10,000 — — 10,000 Total securities held to maturity $ 28,207 $ 1,393 $ — $ 29,600 At September 30, 2021 and December 31, 2020, the Company owned Federal Reserve Bank (FRB) stock reported at cost of $509,000 for both periods, and Federal Home Loan Bank (FHLB) stock reported at a cost of $411,000 and $657,000 at September 30, 2021 and December 31, 2020, respectively. The investments in FRB stock and FHLB stock are required investments related to the Company’s membership in, and borrowings with, these banks and is classified as restricted stock on the consolidated balance sheet. These investments are carried at cost since there is no ready market and redemption has historically been made at par value. The Company estimated that the fair value approximated cost and that these investments were not impaired at September 30, 2021. Results from sales of securities available for sale for the three- and nine-month periods ended September 30, 2021 and September 30, 2020 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Gross proceeds from sales $ — $ 5,569 $ 49,280 $ 13,155 Realized gains from sales $ — $ 22 $ 1,505 $ 80 Realized losses from sales — 3 514 3 Net realized gains $ — $ 19 $ 991 $ 77 At September 30, 2021 and December 31, 2020, securities available for sale with a carrying amount of $113.3 million and $82.8 million, respectively, were pledged as collateral on public deposits and for other purposes as required or permitted by law. The following tables show the gross unrealized losses and fair value of investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2021 and December 31, 2020. We believe these unrealized losses on investment securities are a result of a volatile market and fluctuations in market prices due to a rise in interest rates, which will adjust if rates decline. Management does not believe these fluctuations are a reflection of the credit quality of the investments. At September 30, 2021, the unrealized losses on available for sale securities less than twelve months related to three U.S. Treasury bonds, fourteen government agency bonds, nineteen government-sponsored enterprise (“GSE”) mortgage-backed securities, one asset-backed security, forty-three state and political subdivision bonds and three corporate bonds. There were six corporate held to maturity bonds that had been in a loss position less than twelve months at September 30, 2021. At December 31, 2020, the unrealized losses on available for sale securities less than twelve months related to four government agency bonds, three GSE mortgage-backed securities, two asset-backed securities and ten state and political subdivision bonds. At September 30, 2021, the Company had two government agency bonds, one GSE mortgage-backed security and one state and political subdivision bond that had been in a loss position for twelve months or more. Less than 12 Months 12 Months or More Total September 30, 2021 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Treasury $ 16,423 $ 248 $ — $ — $ 16,423 $ 248 U.S. Government agencies 21,089 408 2,490 29 23,579 437 GSE-Mortgage-backed securities and CMO’s 65,906 903 4,751 79 70,657 982 Asset-backed securities 697 1 — — 697 1 State and political subdivisions 67,997 1,747 955 10 68,952 1,757 Corporate bonds 5,969 31 — — 5,969 31 Total securities available for sale $ 178,081 $ 3,338 $ 8,196 $ 118 $ 186,277 $ 3,456 Less than 12 Months 12 Months or More Total September 30, 2021 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities held to maturity temporary impairment Corporate bonds 3,962 38 — — 3,962 38 Total securities held to maturity $ 3,962 $ 38 $ — $ — $ 3,962 $ 38 Less than 12 Months 12 Months or More Total December 31, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Government agencies $ 5,061 $ 26 $ — $ — $ 5,061 $ 26 GSE-Mortgage-backed securities and CMO’s 10,263 68 — — 10,263 68 Asset-backed securities 2,686 3 — — 2,686 3 State and political subdivisions 11,286 91 — — 11,286 91 Total securities available for sale $ 29,296 $ 188 $ — $ — $ 29,296 $ 188 Less than 12 Months 12 Months or More Total December 31, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities held to maturity temporary impairment U.S. Government agencies $ — $ — $ — $ — $ — $ — State and political subdivisions — — — — — — Corporate bonds — — — — — — Total securities held to maturity $ — $ — $ — $ — $ — $ — Declines in the fair value of the investment portfolio are believed by management to be temporary in nature. When evaluating an investment for other-than-temporary impairment, management considers, among other things, the length of time and the extent to which the fair value has been in a loss position, the financial condition of the issuer and the intent and the ability of the Company to hold the investment until the loss position is recovered. Any unrealized losses were largely due to increases in market interest rates over the yields available at the time of purchase. The fair value is expected to recover as the bonds approach their maturity date or market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of credit quality, but that the losses are temporary in nature. At September 30, 2021, the Company does not intend to sell and is not likely to be required to sell the available for sale securities that were in a loss position prior to full recovery. The following tables show contractual maturities of the investment portfolio as of September 30, 2021: September 30, 2021 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities available for sale U.S. Treasury Due after five but within ten years 16,671 16,423 1.12 % 16,671 16,423 1.12 % U.S. Government agencies Due within twelve months 4,003 4,071 1.80 % Due after one but within five years 2,800 2,871 1.93 % Due after five but within ten years 20,879 20,554 0.81 % Due after ten years 12,094 12,071 0.74 % 39,776 39,567 0.97 % Mortgage-backed securities Due after one but within five years 5,714 5,766 3.34 % Due after five but within ten years 34,863 34,549 1.07 % Due after ten years 61,062 60,670 1.02 % 101,639 100,985 1.17 % Asset-backed securities Due after ten years 36,349 37,562 1.20 % 36,349 37,562 1.20 % State and political subdivisions Due within twelve months 810 810 2.45 % Due after one but within five years 1,862 1,912 2.73 % Due after five but within ten years 1,486 1,476 1.84 % Due after ten years 83,249 82,233 1.81 % 87,407 86,431 1.84 % Corporate bonds Due within twelve months 1,998 2,028 2.98 % Due after one but within five years 5,923 6,065 1.68 % Due after five but within ten years 2,000 1,988 2.00 % 9,921 10,081 2.00 % Total securities available for sale Due within twelve months 6,811 6,909 2.22 % Due after one but within five years 16,299 16,614 2.42 % Due after five but within ten years 75,899 74,990 1.05 % Due after ten years 192,754 192,536 1.38 % $ 291,763 $ 291,049 1.37 % September 30, 2021 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities held to maturity U. S. Government agencies Due after one but within five years $ 175 $ 179 2.75 % 175 179 2.75 % State and political subdivisions Due within twelve months 306 308 1.70 % Due after one but within five years 1,962 2,025 2.23 % Due after ten years 13,395 14,265 2.85 % 15,663 16,598 2.75 % Corporate Bonds Due after five but within ten years 12,750 12,910 4.73 % 12,750 12,910 1.73 % Total securities held for maturity Due within twelve months 306 308 1.70 % Due after one but within five years 2,137 2,204 2.28 % Due after five but within ten years 12,750 12,910 4.73 % Due after ten years 13,395 14,265 2.85 % $ 28,588 $ 29,687 3.63 % The portion of unrealized gains and losses for the three and nine months ended September 30, 2021 and 2020 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Gross proceeds from sales $ — $ — $ 929 $ — Net gains (losses) recognized during the period on equity securities $ (2 ) $ 101 $ (14 ) $ 434 Less: Net gains (losses) recognized from equity securities sold during the period — — (18 ) — Unrealized gains (losses) recognized during the period on equity securities still held at the reporting date $ (2 ) $ 101 $ 4 $ 434 |
Loans Held for Investment
Loans Held for Investment | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Loans Held for Investment | Note 6 – Loans Held for Investment The composition of net loans held for investment by class as of September 30, 2021 and December 31, 2020 are as follows: September 30, 2021 December 31, 2020 (dollars in thousands) Commercial Commercial $ 70,042 $ 64,334 SBA Paycheck Protection Program (PPP) 27,347 76,398 Real estate - commercial 149,586 147,229 Other real estate construction loans 31,963 32,920 Other loans 5,394 3,098 Noncommercial Real estate 1-4 family construction 5,700 7,709 Real estate - residential 81,584 75,000 Home equity 52,440 51,615 Consumer loans 9,095 11,073 433,151 469,376 Less: Allowance for loan losses (3,670 ) (4,402 ) Deferred loan fees net (816 ) (1,635 ) Loans held for investment, net $ 428,665 $ 463,339 T he Paycheck Protection Program (“PPP”), which is administered by the Small Business Administration (“SBA”), was created as part of the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act. The Company participated in assisting its customers with applications for funds through the program. PPP loans have a two-year five-year |
Allowance for Loan Losses
Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Allowance for Loan Losses | Note 7 – Allowance for Loan Losses The following tables show the change in the allowance for loan losses by loan segment for the three and nine months ended September 30, 2021 and 2020, respectively: Commercial Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Balance, beginning of period $ 2,521 $ 2,111 $ 2,753 $ 1,087 Provision for (recovery of) loan losses (831 ) 650 (965 ) 1,652 Charge-offs — — (118 ) (38 ) Recoveries 538 5 558 65 Net recoveries 538 5 440 27 Balance at end of period $ 2,228 $ 2,766 $ 2,228 $ 2,766 Non-Commercial Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Balance, beginning of period $ 1,653 $ 1,315 $ 1,649 $ 894 Provision for (recovery of) loan losses (226 ) 416 (267 ) 813 Charge-offs (13 ) (17 ) (41 ) (41 ) Recoveries 28 14 101 62 Net (charge-offs) recoveries 15 (3 ) 60 21 Balance at end of period $ 1,442 $ 1,728 $ 1,442 $ 1,728 Total Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Balance, beginning of period $ 4,174 $ 3,426 $ 4,402 $ 1,981 Provision for (recovery of) loan losses (1,057 ) 1,066 (1,232 ) 2,465 Charge-offs (13 ) (17 ) (159 ) (79 ) Recoveries 566 19 659 127 Net recoveries 553 2 500 48 Balance at end of period $ 3,670 $ 4,494 $ 3,670 $ 4,494 The following tables show period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at September 30, 2021 and December 31, 2020: September 30, 2021 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 91 $ 4,426 $ 2,137 $ 278,715 $ 2,228 $ 283,141 Non-Commercial 117 2,872 1,325 146,322 1,442 149,194 Total $ 208 $ 7,298 $ 3,462 $ 425,037 $ 3,670 $ 432,335 December 31, 2020 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 53 $ 5,237 $ 2,700 $ 317,094 $ 2,753 $ 322,331 Non-Commercial 94 2,917 1,555 142,493 1,649 145,410 Total $ 147 $ 8,154 $ 4,255 $ 459,587 $ 4,402 $ 467,741 Past due loan information is used by management when assessing the adequacy of the allowance for loan losses. The following tables summarize the past due information of the loan portfolio by class as of the dates indicated: September 30, 2021 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ — $ 310 $ 310 $ 69,732 $ 70,042 $ — SBA Paycheck Protection Program (PPP) — — — 26,042 26,042 — Real estate - commercial — 2,125 2,125 147,575 149,700 — Other real estate construction — — — 31,963 31,963 — Real estate 1-4 family construction — — — 5,700 5,700 — Real estate - residential — 555 555 81,404 81,959 — Home equity 74 233 307 52,133 52,440 — Consumer loans 28 — 28 9,067 9,095 — Other loans — — — 5,394 5,394 — Total $ 102 $ 3,223 $ 3,325 $ 429,010 $ 432,335 $ — December 31, 2020 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ — $ — $ — $ 64,334 $ 64,334 $ — SBA Paycheck Protection Program (PPP) — — — 74,750 74,750 — Real estate - commercial — 2,076 2,076 145,153 147,229 — Other real estate construction 52 1,039 1,091 31,829 32,920 — Real estate 1-4 family construction — — — 7,709 7,709 — Real estate - residential 299 595 894 74,119 75,013 — Home equity — 48 48 51,567 51,615 — Consumer loan 46 — 46 11,027 11,073 — Other loans — — — 3,098 3,098 — Total $ 397 $ 3,758 $ 4,155 $ 463,586 $ 467,741 $ — Once a loan becomes 90 days past due, the loan is automatically transferred to a non-accrual status. The exception to this policy is credit card loans that remain in accruing status 90 days or more until they are paid current or charged off. The Company had $0 in foreclosed residential real estate and $0 of residential real estate in process of foreclosure at September 30, 2021. At December 31, 2020, the Company had $0 in foreclosed residential real estate and $51,000 of residential real estate in process of foreclosure. The composition of non-accrual loans by class as of September 30, 2021 and December 31, 2020 was as follows: September 30, 2021 December 31, 2020 (dollars in thousands) Commercial $ 310 $ — SBA Paycheck Protection Program (PPP) — — Real estate - commercial 2,125 2,076 Other real estate construction — 1,039 Real estate 1 – 4 family construction — — Real estate – residential 555 595 Home equity 233 48 Consumer loans — — Other loans — — $ 3,223 $ 3,758 Management uses a risk-grading program to facilitate the evaluation of probable inherent loan losses and to measure the adequacy of the allowance for loan losses. In this program, risk grades are initially assigned by the loan officers and reviewed and monitored by the lenders and credit administration. The program has eight risk grades summarized in five categories as follows: Pass : Loans that are pass grade credits include loans that are fundamentally sound, with risk factors that are reasonable and acceptable. They generally conform to policy with only minor exceptions; any major exceptions are clearly mitigated by other economic factors. Watch : Loans that are watch credits include loans on management’s watch list where a risk concern may be anticipated in the near future. Substandard : Loans that are considered substandard are loans that are inadequately protected by current sound net worth and paying capacity of the obligor or the value of the collateral pledged. All non-accrual loans are graded as substandard. Doubtful: Loans that are considered to be doubtful have all weaknesses inherent in loans classified substandard, plus the added characteristic that the weaknesses make the collection or liquidation in full on the basis of current existing facts, conditions and values highly questionable and improbable. Loss: Loans that are considered to be a loss are considered to be uncollectible and of such little value that their continuance as bankable assets is not warranted. The tables below summarize risk grades of the loan portfolio by class at September 30, 2021 and December 31, 2020: September 30, 2021 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 67,547 $ 2,185 $ 310 $ — $ 70,042 SBA Paycheck Protection Program (PPP) 26,042 — — — 26,042 Real estate - commercial 142,353 4,431 2,916 — 149,700 Other real estate construction 31,653 56 254 — 31,963 Real estate 1 - 4 family construction 5,700 — — — 5,700 Real estate - residential 78,696 2,306 957 — 81,959 Home equity 51,765 442 233 — 52,440 Consumer loans 9,081 14 — — 9,095 Other loans 5,394 — — — 5,394 Total $ 418,231 $ 9,434 $ 4,670 $ — $ 432,335 December 31, 2020 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 61,828 $ 2,321 $ 185 $ — $ 64,334 SBA Paycheck Protection Program (PPP) 74,750 — — — 74,750 Real estate - commercial 143,222 1,113 2,894 — 147,229 Other real estate construction 31,263 344 1,313 — 32,920 Real estate 1 - 4 family construction 7,709 — — — 7,709 Real estate - residential 72,085 2,145 783 — 75,013 Home equity 50,661 661 293 — 51,615 Consumer loans 11,001 19 53 — 11,073 Other loans 3,098 — — — 3,098 Total $ 455,617 $ 6,603 $ 5,521 $ — $ 467,741 Loans that are in non-accrual status or 90 days past due and still accruing are considered to be nonperforming. At both September 30, 2021 and December 31, 2020 there were no loans 90 days past due and still accruing. The following tables show the breakdown between performing and nonperforming loans by class at September 30, 2021 and December 31, 2020: September 30, 2021 Performing Non- Performing Total (dollars in thousands) Commercial $ 69,732 $ 310 $ 70,042 SBA Paycheck Protection Program (PPP) 26,042 — 26,042 Real estate - commercial 147,575 2,125 149,700 Other real estate construction 31,963 — 31,963 Real estate 1 – 4 family construction 5,700 — 5,700 Real estate – residential 81,404 555 81,959 Home equity 52,207 233 52,440 Consumer loans 9,095 — 9,095 Other loans 5,394 — 5,394 Total $ 429,112 $ 3,223 $ 432,335 December 31, 2020 Performing Non- Performing Total (dollars in thousands) Commercial $ 64,334 $ — $ 64,334 SBA Paycheck Protection Program (PPP) 74,750 — 74,750 Real estate - commercial 145,153 2,076 147,229 Other real estate construction 31,881 1,039 32,920 Real estate 1 – 4 family construction 7,709 — 7,709 Real estate – residential 74,418 595 75,013 Home equity 51,567 48 51,615 Consumer loans 11,073 — 11,073 Other loans 3,098 — 3,098 Total $ 463,983 $ 3,758 $ 467,741 Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement. If a loan is deemed impaired, a specific calculation is performed and a specific reserve is allocated, if necessary. The tables below summarize the loans deemed impaired and the amount of specific reserves allocated by class at September 30, 2021 and December 31, 2020. September 30, 2021 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 961 $ 1 $ 960 $ 22 SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,465 1,689 1,776 69 Other real estate construction — — — — Real estate 1 - 4 family construction — — — — Real estate - residential 2,639 1,203 1,436 116 Home equity 233 202 31 1 Consumer loans — — — — Other loans — — — — Total $ 7,298 $ 3,095 $ 4,203 $ 208 December 31, 2020 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 651 $ — $ 651 $ 20 SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,547 2,076 1,471 33 Other real estate construction 1,039 1,039 — — Real estate 1 - 4 family construction — — — — Real estate - residential 2,856 1,416 1,440 84 Home equity 48 15 33 10 Consumer loans 13 — 13 — Other loans — — — — Total $ 8,154 $ 4,546 $ 3,608 $ 147 The table below shows interest income received on impaired loans by class for the three and nine months ended September 30, 2021 and 2020. Three Months ended September 30, 2021 Three Months ended September 30, 2020 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 806 $ 30 $ 693 $ 6 SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,415 26 3,576 41 Other real estate construction — — 1,112 1 Real estate 1- 4 family construction — — — — Real estate - residential 2,718 27 3,122 39 Home equity 234 — 64 — Consumer loans 4 — 17 — Other loans — — — — Total $ 7,177 $ 83 $ 8,584 $ 87 Nine Months Ended September 30, 2021 Nine Months Ended September 30, 2020 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 728 $ 42 $ 368 $ 23 SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,500 81 3,590 83 Other real estate construction 260 — 848 2 Real estate 1- 4 family construction — — — — Real estate - residential 2,755 99 3,154 108 Home equity 188 1 72 1 Consumer loans 8 — 19 1 Other loans — — — — Total $ 7,439 $ 223 $ 8,051 $ 218 |
Troubled Debt Restructures
Troubled Debt Restructures | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Troubled Debt Restructures | Note 8 – Troubled Debt Restructures A modification of a loan constitutes a troubled debt restructuring (“TDR”) when a borrower is experiencing financial difficulty and the modification involves providing a concession to the existing loan contract. The Company offers various types of concessions when modifying loans to troubled borrowers, however, forgiveness of principal is rarely granted. Concessions offered are term extensions, capitalizing accrued interest, reducing interest rates to below current market rates or a combination of any of these. Combinations from time to time may include allowing a customer to be placed on interest-only payments. The presentations below in the “other” category are TDRs with a combination of concessions. At the time of a TDR, additional collateral or a guarantor may be requested. Loans modified as TDRs are typically already on non-accrual status and in some cases, partial charge-offs may have already been taken against the outstanding loan balance. The Company classifies TDR loans as impaired loans and evaluates the need for an allowance for loan loss on a loan-by-loan basis. An allowance is based on either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price or the estimated fair value of the underlying collateral less any selling costs, if the loan is deemed to be collateral dependent. At September 30, 2021, the Company had $4.1 million in TDRs outstanding, of which one with a balance totaling $46,000 was on a non-accruing basis. Comparatively, the Company had $4.4 million of outstanding TDRs, of which one with a balance of $46,000 was on a non-accruing basis, at December 31, 2020. For the three and nine months ended September 30, 2021 and 2020, the following table presents a breakdown of the types of concessions made by loan class: For the three months ended September 30, 2021 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial — $ — $ — SBA Paycheck Protection Program (PPP) — — — Real estate - commercial 2 1,223 1,223 Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 2 252 252 Home equity — — — Consumer loans — — — Other loans — — — Total 4 $ 1,475 $ 1,475 For the three months ended September 30, 2020 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial — $ — $ — SBA Paycheck Protection Program (PPP) — — — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 1 23 23 Home equity — — — Consumer loans — — — Other loans — — — Total 1 $ 23 $ 23 For the nine months ended September 30, 2021 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial 1 $ 648 $ 648 SBA Paycheck Protection Program (PPP) — — — Real estate - commercial 2 1,223 1,223 Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 3 468 468 Home equity — — — Consumer loans — — — Other loans — — — Total 6 $ 2,339 $ 2,339 For the nine months ended September 30, 2020 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial 2 $ 690 $ 690 SBA Paycheck Protection Program (PPP) — — — Real estate - commercial 1 829 829 Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 3 351 351 Home equity — — — Consumer loans — — — Other loans — — — Total 6 $ 1,870 $ 1,870 During the twelve months ended September 30, 2021, there were no TDRs for which there was a payment default. During the twelve months ended September 30, 2020, there was one TDR for which there was a payment default. A default on a TDR is defined as being past due 90 days or being out of compliance with the modification agreement. As previously mentioned, the Company considers TDRs to be impaired loans and has $149,000 in the allowance for loan losses as of September 30, 2021, as a direct result of these TDRs. At September 30, 2020, there was $119,000 in the allowance for loan losses related to TDRs. The following table presents the status of the types of loans modified as TDRs within the previous twelve months as of September 30, 2021 and 2020: Paid In Full Paying as restructured Converted to non-accrual Foreclosure/ Default Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments (dollars in thousands) September 30, 2021 Below market interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 10 1,253 7 2,462 — — — — Total 10 $ 1,253 7 $ 2,462 — $ — — $ — September 30, 2020 Below market interest rate — $ — 1 $ 219 — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 1 91 8 1,864 — — — — Total 1 $ 91 9 $ 2,083 — $ — — $ — The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, which was signed into law on March 27, 2020, allows the Company to suspend the TDR classifications described above in an effort to provide relief to borrowers impacted by COVID-19. The Consolidated Appropriations Act, 2021, or CAA, which was signed into law on December 27, 2020, extends the expiration of TDR suspensions as set forth in the CARES Act. The Company has elected to adopt this suspension until January 1, 2022 or 60 days after the national emergency terminates, per the CAA. Modifications of loans subsequent to March 1, 2020 for COVID-19 reasons, and that were current as of December 31, 2019, are not considered TDRs and are tracked internally as “COVID-19 Modifications” . The Company initially provided up to a three-month deferral period or conversion to interest-only repayment for up to three months. Additional extensions have been considered. Loans are reviewed on a case-by-case basis, and the Company will generally work with borrowers that express an interest in the assistance program. As of September 30, 2021, the Company had no current outstanding modified loans. Additionally, 208 previously modified loans with outstanding balances totaling $53.6 million have come out of deferment. Of the loans removed from deferment, 49 with balances totaling $11.1 million were paid off, 156 loans totaling $42.3 million were out of accommodation and current at September 30, 2021 and three loans totaling $170,000 were removed due to noncompliance. |
Leases
Leases | 9 Months Ended |
Sep. 30, 2021 | |
Lessee Disclosure [Abstract] | |
Leases | Note 9 - Leases Operating leases in which we are the lessee are recorded as operating lease right of use (“ROU”) assets and operating lease liabilities, included in premises and equipment and other liabilities, respectively, on our consolidated balance sheets. Operating lease ROU assets represent our right to use an underlying asset during the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents our incremental collateralized borrowing rate at the lease commencement date. ROU assets are further adjusted for the lease incentives. Operating lease expense, which is composed of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term and is recorded in the net occupancy expense in the consolidated statements of income. Our leases relate to three office locations, two of which are branch locations, with remaining terms of five to eight years. Certain lease arrangements contain extension options which range from five to ten years at the then fair market rental rates. As these extension options are not generally considered reasonably certain of exercise, they are not included in the lease term. As of September 30, 2021, operating lease ROU assets were $2.2 million and the lease liability was $2.3 million, compared to ROU assets of $1.7 million and a lease liability of $1.8 million at September 30, 2020. Lease costs associated with all leases was $99,000 and $296,000 for the three months and nine months ended September 30, 2021, respectively. The table below summarizes other information related to our operating leases: Nine Months Ended September 30, 2021 2020 (in thousands except percent and period data) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 292 $ 285 Right-of-use assets obtained in exchange for new operating lease liabilities 2,186 1,699 Weighted-average remaining lease term - operating leases, in years 6.1 7.2 Weighted-average discount rate - operating leases 2.46 % 2.95 % The table below summarizes the maturity of remaining lease liabilities: September 30, 2021 (in thousands) 2021 $ 98 2022 400 2023 408 2024 417 2025 427 2026 and thereafter 753 Total lease payments 2,503 Less: Interest (192 ) Present value of lease liabilities 2,311 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 10 - Commitments and Contingencies The Company’s subsidiary bank is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, lines of credit and standby letters of credit. These instruments involve elements of credit risk in excess of amounts recognized in the accompanying financial statements. The Bank’s risk of loss with unfunded loans and lines of credit or standby letters of credit is represented by the contractual amount of these instruments. The Bank uses the same credit policies in making commitments under such instruments as it does for on-balance sheet instruments. The amount of collateral obtained, if any, is based on management’s credit evaluation of the borrower. Collateral held varies, but may include accounts receivable, inventory, real estate and time deposits with financial institutions. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Credit card commitments are unsecured. At September 30, 2021 and December 31, 2020, outstanding financial instruments whose contract amounts represent credit risk were approximately: September 30, 2021 December 31, 2020 (dollars in thousands) Commitments to extend credit $ 153,057 $ 127,986 Credit card commitments 13,955 12,821 Standby letters of credit 8,151 8,277 Total commitments $ 175,163 $ 149,084 |
Fair Value Disclosures
Fair Value Disclosures | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures | Note 11 – Fair Value Disclosures Accounting Standards Codification (“ASC”) 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 does not require any new fair value measurements but clarifies and standardizes some divergent practices that have emerged since prior guidance was issued. ASC 820 creates a three-level hierarchy under which individual fair value estimates are to be ranked based on the relative ASC 820 defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which those assets or liabilities are sold and considers assumptions that market participants would use when pricing those assets or liabilities. Fair values determined using Level 1 inputs rely on active and observable markets to price identical assets or liabilities. In situations where identical assets and liabilities are not traded in active markets, fair values may be determined based on Level 2 inputs, which exist when observable data exists for similar assets and liabilities. Fair values for assets and liabilities for which identical or similar assets and liabilities are not actively traded in observable markets are based on Level 3 inputs, which are considered to be unobservable. Among the Company’s assets and liabilities, investment securities available for sale and mortgage banking derivatives are reported at their fair values on a recurring basis. Certain other assets are adjusted to their fair value on a nonrecurring basis, including other real estate owned, impaired loans, loans held for sale, which are carried at the lower of cost or market, and loan servicing rights, where fair value is determined using similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Deposits, short-term borrowings and long-term obligations are not reported at fair value. Prices for U.S. Treasury and marketable equity securities are readily available in the active markets in which those securities are traded, and the resulting fair values are shown in the Level 1 input column. Prices for government agency securities, mortgage-backed securities, asset-backed securities and for state, county and municipal securities are obtained for similar securities, and the resulting fair values are shown in the Level 2 input column. Prices for all other non-marketable investments are determined based on various assumptions that are not observable. The fair values for these investment securities are shown in the Level 3 input column. Non-marketable investment securities, which are carried at their purchase price, include those that may only be redeemed by the issuer. The changes in securities between Level 1 and Level 2 were related to the purchase and sale of several securities and not the transfer of securities. Mortgage banking derivatives, which are comprised of interest rate lock commitments, or IRLCs, mortgage forward sales commitments and to-be-announced mortgage-backed securities trades (TBAs), are recorded at fair value on a recurring basis. Fair value of the IRLCs is based on projected pull-through rates and anticipated margins based on changes in market interest rates. The Company considers these to be Level 3 valuations. The fair value of mortgage forward sales commitments and TBAs is based on the gain or loss that would occur if the Company were to pair-off the transaction at the measurement date and is considered to be a Level 2 input. The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment by using one of several methods including collateral value, fair value of similar debt or discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the present value of the expected repayments or fair value of collateral exceed the recorded investments in such loans. The Company typically bases the fair value of the collateral on appraised values which the Company considers Level 3 valuations. Foreclosed assets are adjusted to fair value upon transfer of the loans to other real estate owned. Real estate acquired in settlement of loans is recorded initially at the estimated fair value of the property less estimated selling costs at the date of foreclosure. The initial recorded value may be subsequently reduced by additional allowances, which are charged to earnings if the estimated fair value of the property less estimated selling costs declines below the initial recorded value. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. The Company typically bases the fair value of the collateral on appraised values, which the Company considers Level 3 valuations. Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate, based on secondary market prices. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. These loans are recorded in Level 2. The following tables provide fair value information for assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020: September 30, 2021 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Treasury $ 16,423 $ 16,423 $ — $ — U.S. Government agencies 39,567 — 39,567 — GSE - Mortgage-backed securities and CMO’s 100,985 — 100,985 — Asset-backed securities 37,562 — 37,562 — State and political subdivisions 86,431 — 86,431 — Corporate bonds 10,081 — 10,081 — Equity securities 409 409 — — Mortgage banking derivatives 1,196 — 160 1,036 Total assets at fair value on a recurring basis $ 292,654 $ 16,832 $ 274,786 $ 1,036 December 31, 2020 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Government agencies $ 37,389 $ — $ 37,389 $ — GSE - Mortgage-backed securities and CMO’s 41,496 — 41,496 — Asset-backed securities 39,281 — 39,281 — State and political subdivisions 69,164 — 69,164 — Corporate bonds 4,183 — 4,183 — Equity securities 1,352 1,352 — — Mortgage banking derivatives 2,073 — — 2,073 Total assets at fair value on a recurring basis $ 194,938 $ 1,352 $ 191,513 $ 2,073 Mortgage banking derivatives $ 388 $ — $ 388 $ — Total liabilities at fair value on a recurring basis $ 388 $ — $ 388 $ — The following table provides a rollforward for recurring Level 3 fair value measurements: September 30, 2021 (dollars in thousands) Mortgage banking derivatives: Interest rate lock commitments Total Balance at December 31, 2020 $ 2,073 $ 2,073 Change in fair value: Included in income from mortgage banking (1,037 ) (1,037 ) Balance at September 30, 2021 $ 1,036 $ 1,036 The fair value of mortgage interest rate lock commitments at September 30, 2021 was calculated based on a notional amount of $32.6 million. Significant unobservable inputs are used to determine the fair value of these derivatives. For the nine months ended September 30, 2021, such inputs included anticipated margins to be earned based on market movement from the original lock date and an overall projected pull-through rate of 85.95% determined by loan product, loan stage, and loan purpose. The fair value of mortgage interest rate lock commitments at December 31, 2020 was calculated based on a notional amount of $66.5 million. Significant unobservable inputs included estimated net margin to be earned from loan sales, anticipated remaining costs associated with origination of the loan of 0.83%, and a projected pull-through rate of 86.0% at December 31, 2020. Changes in interest rates and other assumptions could significantly change these estimated values. The Company may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with U.S. generally accepted accounting principles. These include assets that are measured at the lower of cost or market value that were recognized at fair value less cost to sell at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below as of September 30, 2021 and December 31, 2020: September 30, 2021 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,995 $ — $ — $ 3,995 Total assets at fair value on a nonrecurring basis $ 3,995 $ — $ — $ 3,995 December 31, 2020 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,461 $ — $ — $ 3,461 Total assets at fair value on a nonrecurring basis $ 3,461 $ — $ — $ 3,461 Quantitative Information about Level 3 Fair Value Measurements September 30, 2021 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount rates 4%-8.75% December 31, 2020 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount rates 4%-8.75% At September 30, 2021, impaired loans were being evaluated with discounted expected cash flows for performing TDRs and discounted appraisals were being used on collateral dependent loans. |
Fair Values of Financial Instru
Fair Values of Financial Instruments and Interest Rate Risk | 9 Months Ended |
Sep. 30, 2021 | |
Investments All Other Investments [Abstract] | |
Fair Values of Financial Instruments and Interest Rate Risk | Note 12 – ASC 825, “Disclosures about Fair Value of Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those that are not measured and reported at fair value on a recurring basis or non-recurring basis. The fair value estimates presented at September 30, 2021 and December 31, 2020 are based on relevant market information and information about the financial instruments. Fair value estimates are intended to represent the price an asset could be sold at or the price at which a liability could be settled. However, given there is no active market or observable market transactions for many of the Company’s financial instruments, the Company has made estimates of many of these fair values which are subjective in nature, involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimated values. The estimated fair values disclosed in the following table do not represent market values of all assets and liabilities of the Company and should not be interpreted to represent the underlying value of the Company. The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of September 30, 2021 and December 31, 2020: September 30, 2021 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 116,074 $ 116,063 $ 112,588 $ 3,475 $ — Securities available for sale 291,049 291,049 16,423 274,626 — Securities held to maturity 28,588 29,687 — 16,777 12,910 Equity securities 409 409 409 — — Loans held for investment, net 428,665 424,378 — — 424,378 Loans held for sale 9,737 9,737 — 9,737 — Restricted stock 921 921 921 — — Loan servicing rights 5,125 5,411 — 5,411 — Mortgage banking derivatives 1,196 1,196 — 160 1,036 Accrued interest receivable 2,679 2,679 — — 2,679 FINANCIAL LIABILITIES Deposits $ 813,324 $ 813,310 $ — $ 813,310 $ — Short-term borrowings 1,130 1,130 — 1,130 — Long-term borrowings 29,511 29,271 — — 29,271 Mortgage banking derivatives — — — — — Accrued interest payable 69 69 — — 69 December 31, 2020 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 88,868 $ 88,879 $ 87,623 $ 1,256 $ — Securities available for sale 191,513 191,513 — 191,513 — Securities held to maturity 28,207 29,600 — 19,664 9,936 Equity securities 1,352 1,352 1,352 — — Loans held for investment, net 463,339 458,706 — — 458,706 Loans held for sale 6,959 6,959 — 6,959 — Restricted stock 1,166 1,166 1,166 — — Loan servicing rights 3,957 4,054 — 4,054 — Mortgage banking derivatives 2,073 2,073 — — 2,073 Accrued interest receivable 2,523 2,523 — — 2,523 FINANCIAL LIABILITIES Deposits $ 743,196 $ 743,378 $ — $ 743,378 $ — Short-term borrowings 710 710 — 710 — Long-term debt 10,992 10,909 — — 10,909 Mortgage banking derivatives 388 388 — 388 — Accrued interest payable 21 21 — — 21 At September 30, 2021 the Company’s subsidiary bank had outstanding standby letters of credit and commitments to extend credit. These off-balance sheet financial instruments are generally exercisable at the market rate prevailing at the date the underlying transaction will be completed; therefore, the fair value is the fee the Bank is expected to receive. This amount is deemed immaterial by management. See Note 10. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Note 13 – Recent Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in earlier recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. During 2019, the effective date was extended to fiscal years beginning on or after December 15, 2022 for public entities that qualify as smaller reporting companies, per the Securities and Exchange Commission definition, which currently includes the Company. Early adoption is permitted. Entities will apply the standard’s provisions as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We have entered into a contract to outsource our current model with a CECL-ready vendor. We are currently working on setting, and supporting, the model assumptions for the various methods of determining credit losses within the CECL methodology supported by the software . The impact of the adoption is dependent on loan portfolio composition and credit quality at adoption date, as well as economic conditions and forecasts at that time. ASC 848, “Reference Rate Reform,” was set forth to eliminate certain reference rates and introduce new reference rates that are based on a larger, more liquid population of observable transactions that are less vulnerable to manipulation. The reference rate reform will discontinue the use of certain widely used reference rates such as the London Interbank Offered Rate, or LIBOR. In response to likely challenges arising from contract modifications due to reference rate reform, the FASB issued ASU 2020-04 in March 2020 to provide optional expedients and exceptions for applying GAAP to contract modifications. As such, modifications to debt contracts may be accounted for as a continuation of the existing contract by prospectively adjusting the effective interest rate. This amendment can be applied beginning March 12, 2020 and will sunset December 31, 2022. The Company currently holds loan contracts that reference LIBOR, and is evaluating the most effective manner in which to modify those contracts, but does not anticipate material financial impact. From time to time the FASB issues exposure drafts of proposed statements of financial accounting standards. Such exposure drafts are subject to comment from the public, to revisions by the FASB and to final issuance by the FASB as statements of financial accounting standards. Management considers the effect of the proposed statements on the consolidated financial statements of the Company and monitors the status of changes to and proposed effective dates of exposure drafts. |
Mortgage Banking Derivatives
Mortgage Banking Derivatives | 9 Months Ended |
Sep. 30, 2021 | |
Mortgage Banking [Abstract] | |
Mortgage Banking Derivatives | Note 14 – The Company enters into commitments to originate loans whereby the interest rate on the loan is determined prior to funding, otherwise known as Interest Rate Lock Commitments (IRLCs). IRLCs on mortgage loans that will be held for resale are considered to be derivatives and must be accounted for at fair value on the balance sheet. Accordingly, such commitments are recorded at fair value in the mortgage banking derivatives asset with changes in fair value recorded in income from mortgage banking within the consolidated statement of income. Fair value is based on anticipated margins determined by market movement from the original lock date and projected pull-through rates on each loan by loan product, loan stage, and loan purpose. During the term of the IRLC, the Company is exposed to the risk that the interest rate will change from the rate quoted to the borrower. In an effort to mitigate interest rate risk, the Company also enters into mortgage forward sales commitments on a mandatory basis for future delivery of residential mortgage loans after an interest rate lock is committed to the borrower. Mandatory commitments require that the loan must be delivered to the investor or a pair-off fee be paid. These forward commitments are recorded at fair value in the mortgage banking derivatives asset or liability, and changes in fair value are recorded to income from mortgage banking within the consolidated statement of income. The fair value of the forward commitments is based on the gain or loss that would occur if the Company were to pair-off the transaction at the measurement date. The Company also enters into purchase and sale agreements of to-be-announced mortgage-backed securities trades (TBAs). A TBA trade is a contract to buy or sell mortgage-backed securities on a specific date while the underlying mortgages are not announced until just prior to settlement. These TBA trades provide an economic hedge against the effect of changes in interest rates resulting from IRLCs. TBAs are accounted for as derivatives under FASB ASC 815 when either of the following conditions exist: (i) when settlement of the TBA trade is not expected to occur at the next regular settlement date (which is typically the next month) or (ii) a mechanism exists to settle the contract on a net basis. As a result, these instruments are recorded at fair value in the mortgage banking derivatives liability with changes in fair value recorded in income from mortgage banking within the consolidated statement of income. The fair value of the TBA trades is based on the gain or loss that would occur if the Company were to pair-off the trade at the measurement date. The following table reflects the notional amount and fair value of mortgage banking derivatives included in the balance sheet at fair value as of September 30, 2021 and December 31, 2020. Notional Amount Fair Value (dollars in thousands) Balance at September 30, 2021 Included in mortgage banking derivatives asset: Interest rate lock commitments $ 32,564 $ 1,036 Forward sales commitments 246 7 To-be-announced mortgage-backed securities trades 35,500 153 Included in mortgage banking derivatives liability: Forward sales commitments — — To-be-announced mortgage-backed securities trades — — Balance at December 31, 2020 Included in mortgage banking derivatives asset: Interest rate lock commitments 66,452 2,073 Forward sales commitments — — To-be-announced mortgage-backed securities trades — — Included in mortgage banking derivatives liability: Forward sales commitments 47,260 388 To-be-announced mortgage-backed securities trades — — |
Long-Term Debt
Long-Term Debt | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | Note 15 – The Company has a line of credit with the Federal Home Loan Bank secured by qualifying first lien and second mortgage loans and commercial real estate loans with available credit of $96.2 million at September 30, 2021. There were no long-term advances under this line at September 30, 2021. The Company also secured a $3.0 million line of credit with TIB The Independent BankersBank, N.A. during 2020. The line is secured with 100% of the outstanding common shares of the Company’s subsidiary bank. As of September 30, 2021, there was no outstanding balance on the line of credit. This loan carries certain debt covenants, and as of September 30, 2021, the Company was in compliance with all of these covenants. During the third quarter of 2019, the Company conducted a private placement offering of fixed rate junior subordinated debt securities at $1,000 per security with a required minimum investment of $50,000. The offering raised $10.0 million, of which the entire $10.0 million was outstanding at both September 30, 2021 and December 31, 2020. These securities have a final maturity date of September 30, 2029 and may be redeemed by the Company on or after September 30, 2024. The junior subordinated debt pays interest quarterly at an annual fixed rate of 5.25%. All proceeds of this private placement qualify and are included in the calculation of Tier 2 capital. Once the final maturity drops under five years, the Company must impose a twenty percent annual reduction per year of the amount of the proceeds from the sale of these securities that are eligible to be counted as Tier 2 capital. The Company will have a twenty percent reduction beginning at September 30, 2024. During the third quarter of 2021, the Company issued $12.0 million and $8.0 million of 10-year and 15-year fixed-to-floating rate subordinated debt securities, respectively. The 10-year subordinated notes mature on September 3, 2031, though redeemable on or after September 3, 2026, and initially pay interest quarterly at an annual rate of 3.5%. From and including September 3, 2026 to but excluding September 3, 2031, or up to an early redemption date, the interest rate on the 10-year subordinated notes will reset quarterly to an annual rate equal to the then-current three-month SOFR plus 283 basis points 292 basis points Debt is reported net of unamortized debt issuance costs of $481,000 at September 30, 2021. There were no unamortized debt issuance costs at December 31, 2020. As of September 30, 2021, the scheduled maturities of these long-term borrowings are as follows: Year ending December 31, (dollars in thousands) 2021 $ — 2022 — 2023 — 2024 — 2025 — Thereafter 29,992 29,992 Less: unamortized debt issuance costs (481 ) Total $ 29,511 |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | The financial statements and accompanying notes are presented on a consolidated basis including Uwharrie Capital Corp (the “Company”) and its subsidiaries, Uwharrie Bank (the “Bank”), Uwharrie Investment Advisors, Inc. (“UIA”), and Uwharrie Mortgage, Inc. The Bank consolidates its subsidiaries, the Strategic Alliance Corporation, BOS Agency, Inc. and Gateway Mortgage, Inc., each of which is wholly owned by the Bank. The information contained in the consolidated financial statements is unaudited. In the opinion of management, the consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and material adjustments necessary for a fair presentation of results of interim periods, all of which are of a normal recurring nature, have been made. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for an entire year. Management continues to evaluate the impact of COVID-19, the disease caused by the novel Coronavirus, beyond the current impacts as of September 30, 2021, which are discussed throughout the accompanying notes of this report. Management is not aware of additional economic events, outside influences or changes in concentrations of business that would require additional clarification or disclosure in the consolidated financial statements. The organization and business of the Company, accounting policies followed by the Company and other information are contained in the notes to consolidated financial statements filed as part of the Company’s 2020 Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on March 5, 2021. This Quarterly Report should be read in conjunction with such Annual Report. |
Use of Estimates | Use of Estimates The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. |
Accounting Changes, Reclassifications and Restatements | Accounting Changes, Reclassifications and Restatements Certain amounts in the 2020 financial statements have been reclassified to conform to the 2021 presentation. These reclassifications did not have an impact on net income or shareholders’ equity. |
Comprehensive Income (Loss) (Ta
Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (loss) | The following table presents the changes in accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2021 and 2020: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Beginning balance $ 1,263 $ 3,163 $ 4,160 $ 323 Other comprehensive income (loss) before reclassifications, net of $536, ($78), $1,197 and ($938) tax effect, respectively (1,819 ) 255 (3,929 ) 3,142 Amounts reclassified from accumulated other comprehensive income, net of $6, $6, $210 and $17 tax effect, respectively 6 (13 ) (781 ) (60 ) Net current-period other comprehensive income (loss) (1,813 ) 242 (4,710 ) 3,082 Ending balance $ (550 ) $ 3,405 $ (550 ) $ 3,405 |
Investment and Equity Securit_2
Investment and Equity Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Carrying Amounts and Fair Values of Securities Available for Sale and Held to Maturity | Carrying amounts and fair values of securities available for sale and held to maturity are summarized below: September 30, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Treasury $ 16,671 $ — $ 248 $ 16,423 U.S. Government agencies 39,776 228 437 39,567 GSE - Mortgage-backed securities and CMO’s 101,639 328 982 100,985 Asset-backed securities 36,349 1,214 1 37,562 State and political subdivisions 87,407 781 1,757 86,431 Corporate bonds 9,921 191 31 10,081 Total securities available for sale $ 291,763 $ 2,742 $ 3,456 $ 291,049 September 30, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 175 $ 4 $ — $ 179 State and political subdivisions 15,663 935 — 16,598 Corporate bonds 12,750 198 38 12,910 Total securities held to maturity $ 28,588 $ 1,137 $ 38 $ 29,687 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Government agencies $ 36,804 $ 611 $ 26 $ 37,389 GSE - Mortgage-backed securities and CMO’s 39,720 1,844 68 41,496 Asset-backed securities 38,536 748 3 39,281 State and political subdivisions 67,148 2,107 91 69,164 Corporate bonds 3,902 281 — 4,183 Total securities available for sale $ 186,110 $ 5,591 $ 188 $ 191,513 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 459 $ 11 $ — $ 470 State and political subdivisions 17,748 1,382 — 19,130 Corporate bonds 10,000 — — 10,000 Total securities held to maturity $ 28,207 $ 1,393 $ — $ 29,600 |
Sales of Securities Available for Sale | Results from sales of securities available for sale for the three- and nine-month periods ended September 30, 2021 and September 30, 2020 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Gross proceeds from sales $ — $ 5,569 $ 49,280 $ 13,155 Realized gains from sales $ — $ 22 $ 1,505 $ 80 Realized losses from sales — 3 514 3 Net realized gains $ — $ 19 $ 991 $ 77 |
Gross Unrealized Losses and Fair Value of Investments | Less than 12 Months 12 Months or More Total September 30, 2021 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Treasury $ 16,423 $ 248 $ — $ — $ 16,423 $ 248 U.S. Government agencies 21,089 408 2,490 29 23,579 437 GSE-Mortgage-backed securities and CMO’s 65,906 903 4,751 79 70,657 982 Asset-backed securities 697 1 — — 697 1 State and political subdivisions 67,997 1,747 955 10 68,952 1,757 Corporate bonds 5,969 31 — — 5,969 31 Total securities available for sale $ 178,081 $ 3,338 $ 8,196 $ 118 $ 186,277 $ 3,456 Less than 12 Months 12 Months or More Total September 30, 2021 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities held to maturity temporary impairment Corporate bonds 3,962 38 — — 3,962 38 Total securities held to maturity $ 3,962 $ 38 $ — $ — $ 3,962 $ 38 Less than 12 Months 12 Months or More Total December 31, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Government agencies $ 5,061 $ 26 $ — $ — $ 5,061 $ 26 GSE-Mortgage-backed securities and CMO’s 10,263 68 — — 10,263 68 Asset-backed securities 2,686 3 — — 2,686 3 State and political subdivisions 11,286 91 — — 11,286 91 Total securities available for sale $ 29,296 $ 188 $ — $ — $ 29,296 $ 188 Less than 12 Months 12 Months or More Total December 31, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities held to maturity temporary impairment U.S. Government agencies $ — $ — $ — $ — $ — $ — State and political subdivisions — — — — — — Corporate bonds — — — — — — Total securities held to maturity $ — $ — $ — $ — $ — $ — |
Amortized Cost and Fair Value of Available for Sale Securities Portfolio | The following tables show contractual maturities of the investment portfolio as of September 30, 2021: September 30, 2021 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities available for sale U.S. Treasury Due after five but within ten years 16,671 16,423 1.12 % 16,671 16,423 1.12 % U.S. Government agencies Due within twelve months 4,003 4,071 1.80 % Due after one but within five years 2,800 2,871 1.93 % Due after five but within ten years 20,879 20,554 0.81 % Due after ten years 12,094 12,071 0.74 % 39,776 39,567 0.97 % Mortgage-backed securities Due after one but within five years 5,714 5,766 3.34 % Due after five but within ten years 34,863 34,549 1.07 % Due after ten years 61,062 60,670 1.02 % 101,639 100,985 1.17 % Asset-backed securities Due after ten years 36,349 37,562 1.20 % 36,349 37,562 1.20 % State and political subdivisions Due within twelve months 810 810 2.45 % Due after one but within five years 1,862 1,912 2.73 % Due after five but within ten years 1,486 1,476 1.84 % Due after ten years 83,249 82,233 1.81 % 87,407 86,431 1.84 % Corporate bonds Due within twelve months 1,998 2,028 2.98 % Due after one but within five years 5,923 6,065 1.68 % Due after five but within ten years 2,000 1,988 2.00 % 9,921 10,081 2.00 % Total securities available for sale Due within twelve months 6,811 6,909 2.22 % Due after one but within five years 16,299 16,614 2.42 % Due after five but within ten years 75,899 74,990 1.05 % Due after ten years 192,754 192,536 1.38 % $ 291,763 $ 291,049 1.37 % |
Amortized Cost and Fair Value of Held to Maturity Securities Portfolio | September 30, 2021 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities held to maturity U. S. Government agencies Due after one but within five years $ 175 $ 179 2.75 % 175 179 2.75 % State and political subdivisions Due within twelve months 306 308 1.70 % Due after one but within five years 1,962 2,025 2.23 % Due after ten years 13,395 14,265 2.85 % 15,663 16,598 2.75 % Corporate Bonds Due after five but within ten years 12,750 12,910 4.73 % 12,750 12,910 1.73 % Total securities held for maturity Due within twelve months 306 308 1.70 % Due after one but within five years 2,137 2,204 2.28 % Due after five but within ten years 12,750 12,910 4.73 % Due after ten years 13,395 14,265 2.85 % $ 28,588 $ 29,687 3.63 % |
Unrealized Gains and Losses Related to Equity Securities | The portion of unrealized gains and losses for the three and nine months ended September 30, 2021 and 2020 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Gross proceeds from sales $ — $ — $ 929 $ — Net gains (losses) recognized during the period on equity securities $ (2 ) $ 101 $ (14 ) $ 434 Less: Net gains (losses) recognized from equity securities sold during the period — — (18 ) — Unrealized gains (losses) recognized during the period on equity securities still held at the reporting date $ (2 ) $ 101 $ 4 $ 434 |
Loans Held for Investment (Tabl
Loans Held for Investment (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Composition of Net Loans Held for Investment by Class | The composition of net loans held for investment by class as of September 30, 2021 and December 31, 2020 are as follows: September 30, 2021 December 31, 2020 (dollars in thousands) Commercial Commercial $ 70,042 $ 64,334 SBA Paycheck Protection Program (PPP) 27,347 76,398 Real estate - commercial 149,586 147,229 Other real estate construction loans 31,963 32,920 Other loans 5,394 3,098 Noncommercial Real estate 1-4 family construction 5,700 7,709 Real estate - residential 81,584 75,000 Home equity 52,440 51,615 Consumer loans 9,095 11,073 433,151 469,376 Less: Allowance for loan losses (3,670 ) (4,402 ) Deferred loan fees net (816 ) (1,635 ) Loans held for investment, net $ 428,665 $ 463,339 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Changes in Allowance for Loan Losses | The following tables show the change in the allowance for loan losses by loan segment for the three and nine months ended September 30, 2021 and 2020, respectively: Commercial Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Balance, beginning of period $ 2,521 $ 2,111 $ 2,753 $ 1,087 Provision for (recovery of) loan losses (831 ) 650 (965 ) 1,652 Charge-offs — — (118 ) (38 ) Recoveries 538 5 558 65 Net recoveries 538 5 440 27 Balance at end of period $ 2,228 $ 2,766 $ 2,228 $ 2,766 Non-Commercial Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Balance, beginning of period $ 1,653 $ 1,315 $ 1,649 $ 894 Provision for (recovery of) loan losses (226 ) 416 (267 ) 813 Charge-offs (13 ) (17 ) (41 ) (41 ) Recoveries 28 14 101 62 Net (charge-offs) recoveries 15 (3 ) 60 21 Balance at end of period $ 1,442 $ 1,728 $ 1,442 $ 1,728 Total Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (dollars in thousands) Balance, beginning of period $ 4,174 $ 3,426 $ 4,402 $ 1,981 Provision for (recovery of) loan losses (1,057 ) 1,066 (1,232 ) 2,465 Charge-offs (13 ) (17 ) (159 ) (79 ) Recoveries 566 19 659 127 Net recoveries 553 2 500 48 Balance at end of period $ 3,670 $ 4,494 $ 3,670 $ 4,494 |
Schedule of Loans and Reserve Balances by Loan Segment Both Individually and Collectively Evaluated for Impairment | The following tables show period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at September 30, 2021 and December 31, 2020: September 30, 2021 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 91 $ 4,426 $ 2,137 $ 278,715 $ 2,228 $ 283,141 Non-Commercial 117 2,872 1,325 146,322 1,442 149,194 Total $ 208 $ 7,298 $ 3,462 $ 425,037 $ 3,670 $ 432,335 December 31, 2020 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 53 $ 5,237 $ 2,700 $ 317,094 $ 2,753 $ 322,331 Non-Commercial 94 2,917 1,555 142,493 1,649 145,410 Total $ 147 $ 8,154 $ 4,255 $ 459,587 $ 4,402 $ 467,741 |
Past Due Information of Loan Portfolio by Class | Past due loan information is used by management when assessing the adequacy of the allowance for loan losses. The following tables summarize the past due information of the loan portfolio by class as of the dates indicated: September 30, 2021 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ — $ 310 $ 310 $ 69,732 $ 70,042 $ — SBA Paycheck Protection Program (PPP) — — — 26,042 26,042 — Real estate - commercial — 2,125 2,125 147,575 149,700 — Other real estate construction — — — 31,963 31,963 — Real estate 1-4 family construction — — — 5,700 5,700 — Real estate - residential — 555 555 81,404 81,959 — Home equity 74 233 307 52,133 52,440 — Consumer loans 28 — 28 9,067 9,095 — Other loans — — — 5,394 5,394 — Total $ 102 $ 3,223 $ 3,325 $ 429,010 $ 432,335 $ — December 31, 2020 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ — $ — $ — $ 64,334 $ 64,334 $ — SBA Paycheck Protection Program (PPP) — — — 74,750 74,750 — Real estate - commercial — 2,076 2,076 145,153 147,229 — Other real estate construction 52 1,039 1,091 31,829 32,920 — Real estate 1-4 family construction — — — 7,709 7,709 — Real estate - residential 299 595 894 74,119 75,013 — Home equity — 48 48 51,567 51,615 — Consumer loan 46 — 46 11,027 11,073 — Other loans — — — 3,098 3,098 — Total $ 397 $ 3,758 $ 4,155 $ 463,586 $ 467,741 $ — |
Composition of Nonaccrual Loans by Class | The composition of non-accrual loans by class as of September 30, 2021 and December 31, 2020 was as follows: September 30, 2021 December 31, 2020 (dollars in thousands) Commercial $ 310 $ — SBA Paycheck Protection Program (PPP) — — Real estate - commercial 2,125 2,076 Other real estate construction — 1,039 Real estate 1 – 4 family construction — — Real estate – residential 555 595 Home equity 233 48 Consumer loans — — Other loans — — $ 3,223 $ 3,758 |
Summary of Risk Grades of Portfolio by Class | The tables below summarize risk grades of the loan portfolio by class at September 30, 2021 and December 31, 2020: September 30, 2021 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 67,547 $ 2,185 $ 310 $ — $ 70,042 SBA Paycheck Protection Program (PPP) 26,042 — — — 26,042 Real estate - commercial 142,353 4,431 2,916 — 149,700 Other real estate construction 31,653 56 254 — 31,963 Real estate 1 - 4 family construction 5,700 — — — 5,700 Real estate - residential 78,696 2,306 957 — 81,959 Home equity 51,765 442 233 — 52,440 Consumer loans 9,081 14 — — 9,095 Other loans 5,394 — — — 5,394 Total $ 418,231 $ 9,434 $ 4,670 $ — $ 432,335 December 31, 2020 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 61,828 $ 2,321 $ 185 $ — $ 64,334 SBA Paycheck Protection Program (PPP) 74,750 — — — 74,750 Real estate - commercial 143,222 1,113 2,894 — 147,229 Other real estate construction 31,263 344 1,313 — 32,920 Real estate 1 - 4 family construction 7,709 — — — 7,709 Real estate - residential 72,085 2,145 783 — 75,013 Home equity 50,661 661 293 — 51,615 Consumer loans 11,001 19 53 — 11,073 Other loans 3,098 — — — 3,098 Total $ 455,617 $ 6,603 $ 5,521 $ — $ 467,741 |
Summary of Performing and Nonperforming Loans by Class | The following tables show the breakdown between performing and nonperforming loans by class at September 30, 2021 and December 31, 2020: September 30, 2021 Performing Non- Performing Total (dollars in thousands) Commercial $ 69,732 $ 310 $ 70,042 SBA Paycheck Protection Program (PPP) 26,042 — 26,042 Real estate - commercial 147,575 2,125 149,700 Other real estate construction 31,963 — 31,963 Real estate 1 – 4 family construction 5,700 — 5,700 Real estate – residential 81,404 555 81,959 Home equity 52,207 233 52,440 Consumer loans 9,095 — 9,095 Other loans 5,394 — 5,394 Total $ 429,112 $ 3,223 $ 432,335 December 31, 2020 Performing Non- Performing Total (dollars in thousands) Commercial $ 64,334 $ — $ 64,334 SBA Paycheck Protection Program (PPP) 74,750 — 74,750 Real estate - commercial 145,153 2,076 147,229 Other real estate construction 31,881 1,039 32,920 Real estate 1 – 4 family construction 7,709 — 7,709 Real estate – residential 74,418 595 75,013 Home equity 51,567 48 51,615 Consumer loans 11,073 — 11,073 Other loans 3,098 — 3,098 Total $ 463,983 $ 3,758 $ 467,741 |
Summary of Loans Deemed Impaired and Specific Reserves Allocated by Class | The tables below summarize the loans deemed impaired and the amount of specific reserves allocated by class at September 30, 2021 and December 31, 2020. September 30, 2021 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 961 $ 1 $ 960 $ 22 SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,465 1,689 1,776 69 Other real estate construction — — — — Real estate 1 - 4 family construction — — — — Real estate - residential 2,639 1,203 1,436 116 Home equity 233 202 31 1 Consumer loans — — — — Other loans — — — — Total $ 7,298 $ 3,095 $ 4,203 $ 208 December 31, 2020 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 651 $ — $ 651 $ 20 SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,547 2,076 1,471 33 Other real estate construction 1,039 1,039 — — Real estate 1 - 4 family construction — — — — Real estate - residential 2,856 1,416 1,440 84 Home equity 48 15 33 10 Consumer loans 13 — 13 — Other loans — — — — Total $ 8,154 $ 4,546 $ 3,608 $ 147 The table below shows interest income received on impaired loans by class for the three and nine months ended September 30, 2021 and 2020. Three Months ended September 30, 2021 Three Months ended September 30, 2020 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 806 $ 30 $ 693 $ 6 SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,415 26 3,576 41 Other real estate construction — — 1,112 1 Real estate 1- 4 family construction — — — — Real estate - residential 2,718 27 3,122 39 Home equity 234 — 64 — Consumer loans 4 — 17 — Other loans — — — — Total $ 7,177 $ 83 $ 8,584 $ 87 Nine Months Ended September 30, 2021 Nine Months Ended September 30, 2020 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 728 $ 42 $ 368 $ 23 SBA Paycheck Protection Program (PPP) — — — — Real estate - commercial 3,500 81 3,590 83 Other real estate construction 260 — 848 2 Real estate 1- 4 family construction — — — — Real estate - residential 2,755 99 3,154 108 Home equity 188 1 72 1 Consumer loans 8 — 19 1 Other loans — — — — Total $ 7,439 $ 223 $ 8,051 $ 218 |
Troubled Debt Restructures (Tab
Troubled Debt Restructures (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Breakdown of Types of Concessions Made by Loan Class | For the three and nine months ended September 30, 2021 and 2020, the following table presents a breakdown of the types of concessions made by loan class: For the three months ended September 30, 2021 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial — $ — $ — SBA Paycheck Protection Program (PPP) — — — Real estate - commercial 2 1,223 1,223 Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 2 252 252 Home equity — — — Consumer loans — — — Other loans — — — Total 4 $ 1,475 $ 1,475 For the three months ended September 30, 2020 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial — $ — $ — SBA Paycheck Protection Program (PPP) — — — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 1 23 23 Home equity — — — Consumer loans — — — Other loans — — — Total 1 $ 23 $ 23 For the nine months ended September 30, 2021 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial 1 $ 648 $ 648 SBA Paycheck Protection Program (PPP) — — — Real estate - commercial 2 1,223 1,223 Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 3 468 468 Home equity — — — Consumer loans — — — Other loans — — — Total 6 $ 2,339 $ 2,339 For the nine months ended September 30, 2020 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Commercial 2 $ 690 $ 690 SBA Paycheck Protection Program (PPP) — — — Real estate - commercial 1 829 829 Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 3 351 351 Home equity — — — Consumer loans — — — Other loans — — — Total 6 $ 1,870 $ 1,870 |
Schedule of Status of Types of Debt Restructuring | The following table presents the status of the types of loans modified as TDRs within the previous twelve months as of September 30, 2021 and 2020: Paid In Full Paying as restructured Converted to non-accrual Foreclosure/ Default Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments (dollars in thousands) September 30, 2021 Below market interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 10 1,253 7 2,462 — — — — Total 10 $ 1,253 7 $ 2,462 — $ — — $ — September 30, 2020 Below market interest rate — $ — 1 $ 219 — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal/Other 1 91 8 1,864 — — — — Total 1 $ 91 9 $ 2,083 — $ — — $ — |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Lessee Disclosure [Abstract] | |
Summary of Other Information Related to Operating Leases | The table below summarizes other information related to our operating leases: Nine Months Ended September 30, 2021 2020 (in thousands except percent and period data) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 292 $ 285 Right-of-use assets obtained in exchange for new operating lease liabilities 2,186 1,699 Weighted-average remaining lease term - operating leases, in years 6.1 7.2 Weighted-average discount rate - operating leases 2.46 % 2.95 % |
Summary of the Maturity of Remaining Lease Liabilities | The table below summarizes the maturity of remaining lease liabilities: September 30, 2021 (in thousands) 2021 $ 98 2022 400 2023 408 2024 417 2025 427 2026 and thereafter 753 Total lease payments 2,503 Less: Interest (192 ) Present value of lease liabilities 2,311 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk | At September 30, 2021 and December 31, 2020, outstanding financial instruments whose contract amounts represent credit risk were approximately: September 30, 2021 December 31, 2020 (dollars in thousands) Commitments to extend credit $ 153,057 $ 127,986 Credit card commitments 13,955 12,821 Standby letters of credit 8,151 8,277 Total commitments $ 175,163 $ 149,084 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Information for Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables provide fair value information for assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020: September 30, 2021 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Treasury $ 16,423 $ 16,423 $ — $ — U.S. Government agencies 39,567 — 39,567 — GSE - Mortgage-backed securities and CMO’s 100,985 — 100,985 — Asset-backed securities 37,562 — 37,562 — State and political subdivisions 86,431 — 86,431 — Corporate bonds 10,081 — 10,081 — Equity securities 409 409 — — Mortgage banking derivatives 1,196 — 160 1,036 Total assets at fair value on a recurring basis $ 292,654 $ 16,832 $ 274,786 $ 1,036 December 31, 2020 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: U.S. Government agencies $ 37,389 $ — $ 37,389 $ — GSE - Mortgage-backed securities and CMO’s 41,496 — 41,496 — Asset-backed securities 39,281 — 39,281 — State and political subdivisions 69,164 — 69,164 — Corporate bonds 4,183 — 4,183 — Equity securities 1,352 1,352 — — Mortgage banking derivatives 2,073 — — 2,073 Total assets at fair value on a recurring basis $ 194,938 $ 1,352 $ 191,513 $ 2,073 Mortgage banking derivatives $ 388 $ — $ 388 $ — Total liabilities at fair value on a recurring basis $ 388 $ — $ 388 $ — |
Schedule of Reconciliation for Recurring Level 3 Fair Value Measurements | The following table provides a rollforward for recurring Level 3 fair value measurements: September 30, 2021 (dollars in thousands) Mortgage banking derivatives: Interest rate lock commitments Total Balance at December 31, 2020 $ 2,073 $ 2,073 Change in fair value: Included in income from mortgage banking (1,037 ) (1,037 ) Balance at September 30, 2021 $ 1,036 $ 1,036 |
Assets Measured at Fair Value on Nonrecurring Basis | Assets measured at fair value on a nonrecurring basis are included in the table below as of September 30, 2021 and December 31, 2020: September 30, 2021 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,995 $ — $ — $ 3,995 Total assets at fair value on a nonrecurring basis $ 3,995 $ — $ — $ 3,995 December 31, 2020 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,461 $ — $ — $ 3,461 Total assets at fair value on a nonrecurring basis $ 3,461 $ — $ — $ 3,461 |
Quantitative Information about Level 3 Fair Value Measurements | Quantitative Information about Level 3 Fair Value Measurements September 30, 2021 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount rates 4%-8.75% December 31, 2020 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount rates 4%-8.75% |
Fair Values of Financial Inst_2
Fair Values of Financial Instruments and Interest Rate Risk (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments All Other Investments [Abstract] | |
Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments | The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of September 30, 2021 and December 31, 2020: September 30, 2021 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 116,074 $ 116,063 $ 112,588 $ 3,475 $ — Securities available for sale 291,049 291,049 16,423 274,626 — Securities held to maturity 28,588 29,687 — 16,777 12,910 Equity securities 409 409 409 — — Loans held for investment, net 428,665 424,378 — — 424,378 Loans held for sale 9,737 9,737 — 9,737 — Restricted stock 921 921 921 — — Loan servicing rights 5,125 5,411 — 5,411 — Mortgage banking derivatives 1,196 1,196 — 160 1,036 Accrued interest receivable 2,679 2,679 — — 2,679 FINANCIAL LIABILITIES Deposits $ 813,324 $ 813,310 $ — $ 813,310 $ — Short-term borrowings 1,130 1,130 — 1,130 — Long-term borrowings 29,511 29,271 — — 29,271 Mortgage banking derivatives — — — — — Accrued interest payable 69 69 — — 69 December 31, 2020 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 88,868 $ 88,879 $ 87,623 $ 1,256 $ — Securities available for sale 191,513 191,513 — 191,513 — Securities held to maturity 28,207 29,600 — 19,664 9,936 Equity securities 1,352 1,352 1,352 — — Loans held for investment, net 463,339 458,706 — — 458,706 Loans held for sale 6,959 6,959 — 6,959 — Restricted stock 1,166 1,166 1,166 — — Loan servicing rights 3,957 4,054 — 4,054 — Mortgage banking derivatives 2,073 2,073 — — 2,073 Accrued interest receivable 2,523 2,523 — — 2,523 FINANCIAL LIABILITIES Deposits $ 743,196 $ 743,378 $ — $ 743,378 $ — Short-term borrowings 710 710 — 710 — Long-term debt 10,992 10,909 — — 10,909 Mortgage banking derivatives 388 388 — 388 — Accrued interest payable 21 21 — — 21 |
Mortgage Banking Derivatives (T
Mortgage Banking Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Mortgage Banking [Abstract] | |
Summary of Notional Amount and Fair Value of Mortgage Banking Derivatives | The following table reflects the notional amount and fair value of mortgage banking derivatives included in the balance sheet at fair value as of September 30, 2021 and December 31, 2020. Notional Amount Fair Value (dollars in thousands) Balance at September 30, 2021 Included in mortgage banking derivatives asset: Interest rate lock commitments $ 32,564 $ 1,036 Forward sales commitments 246 7 To-be-announced mortgage-backed securities trades 35,500 153 Included in mortgage banking derivatives liability: Forward sales commitments — — To-be-announced mortgage-backed securities trades — — Balance at December 31, 2020 Included in mortgage banking derivatives asset: Interest rate lock commitments 66,452 2,073 Forward sales commitments — — To-be-announced mortgage-backed securities trades — — Included in mortgage banking derivatives liability: Forward sales commitments 47,260 388 To-be-announced mortgage-backed securities trades — — |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Scheduled Maturities of Advances and Notes Payable | As of September 30, 2021, the scheduled maturities of these long-term borrowings are as follows: Year ending December 31, (dollars in thousands) 2021 $ — 2022 — 2023 — 2024 — 2025 — Thereafter 29,992 29,992 Less: unamortized debt issuance costs (481 ) Total $ 29,511 |
Comprehensive Income (Loss) - A
Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Beginning balance | $ 61,560 | $ 52,655 | $ 59,237 | $ 48,858 |
Total other comprehensive income (loss) | (1,813) | 242 | (4,710) | 3,082 |
Ending balance | 62,161 | 54,292 | 62,161 | 54,292 |
Unrealized Holding Gains on Available-for-Sale Securities (Net) [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Beginning balance | 1,263 | 3,163 | 4,160 | 323 |
Other comprehensive income (loss) before reclassifications, net of $536, ($78), $1,197 and ($938) tax effect, respectively | (1,819) | 255 | (3,929) | 3,142 |
Amounts reclassified from accumulated other comprehensive income, net of $6, $6, $210 and $17 tax effect, respectively | 6 | (13) | (781) | (60) |
Total other comprehensive income (loss) | (1,813) | 242 | (4,710) | 3,082 |
Ending balance | $ (550) | $ 3,405 | $ (550) | $ 3,405 |
Comprehensive Income (Loss) -_2
Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (loss) (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Tax effect on amount reclassified from accumulated other comprehensive income | $ 6 | $ 6 | $ 210 | $ 17 |
Unrealized Holding Gains on Available-for-Sale Securities (Net) [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Tax effect on Other Comprehensive income (loss) before reclassifications | 536 | (78) | 1,197 | (938) |
Tax effect on amount reclassified from accumulated other comprehensive income | $ 6 | $ 6 | $ 210 | $ 17 |
Noncontrolling Interest - Addit
Noncontrolling Interest - Additional Information (Detail) - Preferred Stock Series B and Series C [Member] - USD ($) $ in Millions | 1 Months Ended | 9 Months Ended |
Jan. 31, 2013 | Sep. 30, 2021 | |
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ||
Preferred stock issued | $ 10.7 | |
Dividends rate | 5.30% | |
Voting rights | The preferred stock has no voting rights |
Per Share Data - Additional Inf
Per Share Data - Additional Information (Detail) - shares | Oct. 19, 2021 | Oct. 20, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 |
Earnings Per Share Basic And Dilutive [Line Items] | |||||||
Stock dividend, percentage | 2.00% | 3.00% | 2.00% | 3.00% | 2.00% | ||
Dividends declared date | Oct. 20, 2020 | ||||||
Stock options outstanding | 0 | 0 | |||||
Basic | 7,168,405 | 7,319,100 | 7,218,109 | 7,360,295 | |||
Subsequent Event [Member] | |||||||
Earnings Per Share Basic And Dilutive [Line Items] | |||||||
Stock dividend, percentage | 3.00% | ||||||
Dividends payable date | Nov. 23, 2021 | ||||||
Dividends declared date | Oct. 19, 2021 | ||||||
Dividends record date | Nov. 9, 2021 |
Investment and Equity Securit_3
Investment and Equity Securities - Carrying Amounts and Fair Values of Securities Available for Sale and Held to Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 291,763 | $ 186,110 |
Available-for-sale Securities, Gross Unrealized Gains | 2,742 | 5,591 |
Available-for-sale Securities, Gross Unrealized Losses | 3,456 | 188 |
Available-for-sale Securities, Fair Value | 291,049 | 191,513 |
Held-to-maturity Securities, Amortized Cost | 28,588 | 28,207 |
Held-to-maturity Securities, Gross Unrealized Gains | 1,137 | 1,393 |
Held-to-maturity Securities, Gross Unrealized Losses | 38 | |
Held-to-maturity Securities, Fair Value | 29,687 | 29,600 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 16,671 | |
Available-for-sale Securities, Gross Unrealized Losses | 248 | |
Available-for-sale Securities, Fair Value | 16,423 | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 39,776 | 36,804 |
Available-for-sale Securities, Gross Unrealized Gains | 228 | 611 |
Available-for-sale Securities, Gross Unrealized Losses | 437 | 26 |
Available-for-sale Securities, Fair Value | 39,567 | 37,389 |
Held-to-maturity Securities, Amortized Cost | 175 | 459 |
Held-to-maturity Securities, Gross Unrealized Gains | 4 | 11 |
Held-to-maturity Securities, Fair Value | 179 | 470 |
GSE - Mortgage-backed Securities and CMO’s [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 101,639 | 39,720 |
Available-for-sale Securities, Gross Unrealized Gains | 328 | 1,844 |
Available-for-sale Securities, Gross Unrealized Losses | 982 | 68 |
Available-for-sale Securities, Fair Value | 100,985 | 41,496 |
Asset-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 36,349 | 38,536 |
Available-for-sale Securities, Gross Unrealized Gains | 1,214 | 748 |
Available-for-sale Securities, Gross Unrealized Losses | 1 | 3 |
Available-for-sale Securities, Fair Value | 37,562 | 39,281 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 87,407 | 67,148 |
Available-for-sale Securities, Gross Unrealized Gains | 781 | 2,107 |
Available-for-sale Securities, Gross Unrealized Losses | 1,757 | 91 |
Available-for-sale Securities, Fair Value | 86,431 | 69,164 |
Held-to-maturity Securities, Amortized Cost | 15,663 | 17,748 |
Held-to-maturity Securities, Gross Unrealized Gains | 935 | 1,382 |
Held-to-maturity Securities, Fair Value | 16,598 | 19,130 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 9,921 | 3,902 |
Available-for-sale Securities, Gross Unrealized Gains | 191 | 281 |
Available-for-sale Securities, Gross Unrealized Losses | 31 | |
Available-for-sale Securities, Fair Value | 10,081 | 4,183 |
Held-to-maturity Securities, Amortized Cost | 12,750 | 10,000 |
Held-to-maturity Securities, Gross Unrealized Gains | 198 | |
Held-to-maturity Securities, Gross Unrealized Losses | 38 | |
Held-to-maturity Securities, Fair Value | $ 12,910 | $ 10,000 |
Investment and Equity Securit_4
Investment and Equity Securities - Additional Information (Detail) | 9 Months Ended | |
Sep. 30, 2021USD ($)Security | Dec. 31, 2020USD ($)Security | |
Schedule of Available-for-sale Securities [Line Items] | ||
Federal Reserve stock owned by Company | $ | $ 509,000 | $ 509,000 |
Federal Home Loan Bank stock (FHLB) | $ | 411,000 | 657,000 |
Securities available for sale pledged as collateral on public deposits | $ | $ 113,300,000 | $ 82,800,000 |
Number of held to maturity securities related to unrealized losses less than twelve months | 6 | |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of available for sale securities related to unrealized losses less than twelve months | 3 | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of available for sale securities related to unrealized losses less than twelve months | 14 | 4 |
Number of available for sale securities related to unrealized losses more than twelve months | 2 | |
GSE - Mortgage-backed Securities and CMO’s [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of available for sale securities related to unrealized losses less than twelve months | 19 | 3 |
Number of available for sale securities related to unrealized losses more than twelve months | 1 | |
Available for sale securities | $ | $ 0 | |
Asset-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of available for sale securities related to unrealized losses less than twelve months | 1 | 2 |
U S States And Political [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of available for sale securities related to unrealized losses less than twelve months | 43 | 10 |
Number of available for sale securities related to unrealized losses more than twelve months | 1 | |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of available for sale securities related to unrealized losses less than twelve months | 3 |
Investment and Equity Securit_5
Investment and Equity Securities - Sales of Securities Available for Sale (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Investments Debt And Equity Securities [Abstract] | |||
Gross proceeds from sales | $ 5,569 | $ 49,280 | $ 13,155 |
Realized gains from sales | 22 | 1,505 | 80 |
Realized losses from sales | 3 | 514 | 3 |
Net realized gains | $ 19 | $ 991 | $ 77 |
Investment and Equity Securit_6
Investment and Equity Securities - Gross Unrealized Losses and Fair Value of Investments (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | $ 178,081 | $ 29,296 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 3,338 | 188 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 8,196 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 118 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 186,277 | 29,296 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 3,456 | 188 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 16,423 | |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 248 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 16,423 | |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 248 | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 21,089 | 5,061 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 408 | 26 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 2,490 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 29 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 23,579 | 5,061 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 437 | 26 |
GSE - Mortgage-backed Securities and CMO’s [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 65,906 | 10,263 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 903 | 68 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 4,751 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 79 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 70,657 | 10,263 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 982 | 68 |
Asset-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 697 | 2,686 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 1 | 3 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 697 | 2,686 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 1 | 3 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 67,997 | 11,286 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 1,747 | 91 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 955 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 10 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 68,952 | 11,286 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 1,757 | $ 91 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 5,969 | |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 31 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 5,969 | |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | $ 31 |
Investment and Equity Securit_7
Investment and Equity Securities - Investment Securities - Gross Unrealized Losses and Fair Value of Investments (Detail) $ in Thousands | Sep. 30, 2021USD ($) |
Schedule Of Held To Maturity Securities [Line Items] | |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Fair Value | $ 3,962 |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 38 |
Securities held to maturity, Gross unrealized losses, Fair Value | 3,962 |
Securities held to maturity, Gross unrealized losses, Unrealized Losses | 38 |
Corporate Bonds [Member] | |
Schedule Of Held To Maturity Securities [Line Items] | |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Fair Value | 3,962 |
Securities held to maturity, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 38 |
Securities held to maturity, Gross unrealized losses, Fair Value | 3,962 |
Securities held to maturity, Gross unrealized losses, Unrealized Losses | $ 38 |
Investment and Equity Securit_8
Investment and Equity Securities - Amortized Cost and Fair Value of Available for Sale Securities Portfolio (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized cost | $ 6,811 | |
Due after one but within five years, Amortized Cost | 16,299 | |
Due after five but within ten years, Amortized Cost | 75,899 | |
Due after ten years, Amortized Cost | 192,754 | |
Available-for-sale Securities, Amortized Cost | 291,763 | $ 186,110 |
Due within twelve months, Estimated Fair Value | 6,909 | |
Due after one but within five years, Estimated Fair Value | 16,614 | |
Due after five but within ten years, Estimated Fair Value | 74,990 | |
Due after ten years, Estimated Fair Value | 192,536 | |
Available-for-sale Securities, Estimated Fair Value | $ 291,049 | 191,513 |
Due within twelve months, Book Yield | 2.22% | |
Due after one but within five years, Book Yield | 2.42% | |
Due after five but within ten years, Book Yield | 1.05% | |
Due after ten years, Book Yield | 1.38% | |
Total securities available for sale, Book Yield | 1.37% | |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after five but within ten years, Amortized Cost | $ 16,671 | |
Available-for-sale Securities, Amortized Cost | 16,671 | |
Due after five but within ten years, Estimated Fair Value | 16,423 | |
Available-for-sale Securities, Estimated Fair Value | $ 16,423 | |
Due after five but within ten years, Book Yield | 1.12% | |
Total securities available for sale, Book Yield | 1.12% | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized cost | $ 4,003 | |
Due after one but within five years, Amortized Cost | 2,800 | |
Due after five but within ten years, Amortized Cost | 20,879 | |
Due after ten years, Amortized Cost | 12,094 | |
Available-for-sale Securities, Amortized Cost | 39,776 | 36,804 |
Due within twelve months, Estimated Fair Value | 4,071 | |
Due after one but within five years, Estimated Fair Value | 2,871 | |
Due after five but within ten years, Estimated Fair Value | 20,554 | |
Due after ten years, Estimated Fair Value | 12,071 | |
Available-for-sale Securities, Estimated Fair Value | $ 39,567 | 37,389 |
Due within twelve months, Book Yield | 1.80% | |
Due after one but within five years, Book Yield | 1.93% | |
Due after five but within ten years, Book Yield | 0.81% | |
Due after ten years, Book Yield | 0.74% | |
Total securities available for sale, Book Yield | 0.97% | |
Asset-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after ten years, Amortized Cost | $ 36,349 | |
Available-for-sale Securities, Amortized Cost | 36,349 | 38,536 |
Due after ten years, Estimated Fair Value | 37,562 | |
Available-for-sale Securities, Estimated Fair Value | $ 37,562 | 39,281 |
Due after ten years, Book Yield | 1.20% | |
Total securities available for sale, Book Yield | 1.20% | |
Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 5,714 | |
Due after five but within ten years, Amortized Cost | 34,863 | |
Due after ten years, Amortized Cost | 61,062 | |
Available-for-sale Securities, Amortized Cost | 101,639 | 39,720 |
Due after one but within five years, Estimated Fair Value | 5,766 | |
Due after five but within ten years, Estimated Fair Value | 34,549 | |
Due after ten years, Estimated Fair Value | 60,670 | |
Available-for-sale Securities, Estimated Fair Value | $ 100,985 | 41,496 |
Due after one but within five years, Book Yield | 3.34% | |
Due after five but within ten years, Book Yield | 1.07% | |
Due after ten years, Book Yield | 1.02% | |
Total securities available for sale, Book Yield | 1.17% | |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized cost | $ 810 | |
Due after one but within five years, Amortized Cost | 1,862 | |
Due after five but within ten years, Amortized Cost | 1,486 | |
Due after ten years, Amortized Cost | 83,249 | |
Available-for-sale Securities, Amortized Cost | 87,407 | 67,148 |
Due within twelve months, Estimated Fair Value | 810 | |
Due after one but within five years, Estimated Fair Value | 1,912 | |
Due after five but within ten years, Estimated Fair Value | 1,476 | |
Due after ten years, Estimated Fair Value | 82,233 | |
Available-for-sale Securities, Estimated Fair Value | $ 86,431 | 69,164 |
Due within twelve months, Book Yield | 2.45% | |
Due after one but within five years, Book Yield | 2.73% | |
Due after five but within ten years, Book Yield | 1.84% | |
Due after ten years, Book Yield | 1.81% | |
Total securities available for sale, Book Yield | 1.84% | |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized cost | $ 1,998 | |
Due after one but within five years, Amortized Cost | 5,923 | |
Due after five but within ten years, Amortized Cost | 2,000 | |
Available-for-sale Securities, Amortized Cost | 9,921 | 3,902 |
Due within twelve months, Estimated Fair Value | 2,028 | |
Due after one but within five years, Estimated Fair Value | 6,065 | |
Due after five but within ten years, Estimated Fair Value | 1,988 | |
Available-for-sale Securities, Estimated Fair Value | $ 10,081 | $ 4,183 |
Due within twelve months, Book Yield | 2.98% | |
Due after one but within five years, Book Yield | 1.68% | |
Due after five but within ten years, Book Yield | 2.00% | |
Total securities available for sale, Book Yield | 2.00% |
Investment and Equity Securit_9
Investment and Equity Securities - Investment Securities - Amortized Cost and Fair Value of Held to Maturity Securities Portfolio (Detail) $ in Thousands | Sep. 30, 2021USD ($) |
Schedule Of Held To Maturity Securities [Line Items] | |
Due within twelve months, Amortized Cost | $ 306 |
Due after one but within five years, Amortized Cost | 2,137 |
Due after five but within ten years, Amortized Cost | 12,750 |
Due after ten years, Amortized cost | 13,395 |
Total Securities held for maturity, Amortized Cost | 28,588 |
U.S. Government Agencies [Member] | |
Schedule Of Held To Maturity Securities [Line Items] | |
Due after one but within five years, Amortized Cost | 175 |
Total Securities held for maturity, Amortized Cost | 175 |
State and Political Subdivisions [Member] | |
Schedule Of Held To Maturity Securities [Line Items] | |
Due within twelve months, Amortized Cost | 306 |
Due after one but within five years, Amortized Cost | 1,962 |
Due after ten years, Amortized cost | 13,395 |
Total Securities held for maturity, Amortized Cost | 15,663 |
Corporate Bonds [Member] | |
Schedule Of Held To Maturity Securities [Line Items] | |
Due after five but within ten years, Amortized Cost | 12,750 |
Total Securities held for maturity, Amortized Cost | $ 12,750 |
Investment and Equity Securi_10
Investment and Equity Securities - Amortized Cost and Fair Value of Held to Maturity Securities Portfolio (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Due within twelve months, Estimated Fair Value | $ 308 | |
Due after one but within five years, Estimated Fair Value | 2,204 | |
Due after five but within ten years, Estimated Fair Value | 12,910 | |
Due after ten years, Estimated Fair Value | 14,265 | |
Total Securities held for maturity, Estimated Fair Value | $ 29,687 | $ 29,600 |
Due within twelve months, Book Yield | 1.70% | |
Due after one but within five years, Book Yield | 2.28% | |
Due after five but within ten years, Book Yield | 4.73% | |
Due after ten years, Book Yield | 2.85% | |
Total Securities held for maturity, Book Yield | 3.63% | |
U.S. Government Agencies [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Due after one but within five years, Estimated Fair Value | $ 179 | |
Total Securities held for maturity, Estimated Fair Value | $ 179 | 470 |
Due after one but within five years, Book Yield | 2.75% | |
Total Securities held for maturity, Book Yield | 2.75% | |
State and Political Subdivisions [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Due within twelve months, Estimated Fair Value | $ 308 | |
Due after one but within five years, Estimated Fair Value | 2,025 | |
Due after ten years, Estimated Fair Value | 14,265 | |
Total Securities held for maturity, Estimated Fair Value | $ 16,598 | 19,130 |
Due within twelve months, Book Yield | 1.70% | |
Due after one but within five years, Book Yield | 2.23% | |
Due after ten years, Book Yield | 2.85% | |
Total Securities held for maturity, Book Yield | 2.75% | |
Corporate Bonds [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Due after five but within ten years, Estimated Fair Value | $ 12,910 | |
Total Securities held for maturity, Estimated Fair Value | $ 12,910 | $ 10,000 |
Due after five but within ten years, Book Yield | 4.73% | |
Total Securities held for maturity, Book Yield | 1.73% |
Investment and Equity Securi_11
Investment and Equity Securities - Unrealized Gain and Losses related to Equity Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Investments Debt And Equity Securities [Abstract] | ||||
Gross proceeds from sales | $ 929 | |||
Net gains (losses) recognized during the period on equity securities | $ (2) | $ 101 | (14) | $ 434 |
Less: Net gains (losses) recognized from equity securities sold during the period | (18) | |||
Unrealized gains (losses) recognized during the period on equity securities still held at the reporting date | $ (2) | $ 101 | $ 4 | $ 434 |
Loans Held for Investment - Com
Loans Held for Investment - Composition of Net Loans Held for Investment by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | $ 433,151 | $ 469,376 | ||||
Less: | ||||||
Allowance for loan losses | (3,670) | $ (4,174) | (4,402) | $ (4,494) | $ (3,426) | $ (1,981) |
Deferred loan fees net | (816) | (1,635) | ||||
Net loans held for investment | 428,665 | 463,339 | ||||
Commercial [Member] | ||||||
Less: | ||||||
Allowance for loan losses | (2,228) | (2,521) | (2,753) | (2,766) | (2,111) | (1,087) |
Commercial [Member] | Commercial Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 70,042 | 64,334 | ||||
Commercial [Member] | SBA Paycheck Protection Program (PPP) [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 27,347 | 76,398 | ||||
Commercial [Member] | Real Estate - Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 149,586 | 147,229 | ||||
Commercial [Member] | Other Real Estate Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 31,963 | 32,920 | ||||
Commercial [Member] | Other Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 5,394 | 3,098 | ||||
Non-Commercial [Member] | ||||||
Less: | ||||||
Allowance for loan losses | (1,442) | $ (1,653) | (1,649) | $ (1,728) | $ (1,315) | $ (894) |
Non-Commercial [Member] | Consumer Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 9,095 | 11,073 | ||||
Non-Commercial [Member] | Real Estate 1 - 4 Family Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 5,700 | 7,709 | ||||
Non-Commercial [Member] | Real Estate - Residential [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 81,584 | 75,000 | ||||
Non-Commercial [Member] | Home Equity [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | $ 52,440 | $ 51,615 |
Loans Held for Investment - Add
Loans Held for Investment - Additional Information (Detail) $ in Thousands | Jun. 05, 2020 | Jun. 04, 2020 | Sep. 30, 2021USD ($)PPPLoan |
Paycheck Protection Program [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan Term | 5 years | 2 years | |
Interest earn on loan | 1.00% | ||
Number of Loans | PPPLoan | 1,202 | ||
Recorded Investments | $ 81,000 | ||
Number of loans paid off or forgiven | PPPLoan | 1,123 | ||
Loan balances | $ 79,200 | ||
Deffered loan fees | 39,000 | ||
Deffered loan costs | 17,000 | ||
Second Round Paycheck Protection Program [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan balances | 20,900 | ||
Deffered loan fees | 1,400 | ||
Deffered loan costs | $ 161,000 | ||
Number of loans | PPPLoan | 879 | ||
Amount of additional loans funded | $ 46,400 | ||
Number of Loans | PPPLoan | 421 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance, beginning of period | $ 4,174 | $ 3,426 | $ 4,402 | $ 1,981 |
Provision for (recovery of) loan losses | (1,057) | 1,066 | (1,232) | 2,465 |
Charge-offs | (13) | (17) | (159) | (79) |
Recoveries | 566 | 19 | 659 | 127 |
Net recoveries | 553 | 2 | 500 | 48 |
Balance at end of period | 3,670 | 4,494 | 3,670 | 4,494 |
Commercial [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance, beginning of period | 2,521 | 2,111 | 2,753 | 1,087 |
Provision for (recovery of) loan losses | (831) | 650 | (965) | 1,652 |
Charge-offs | (118) | (38) | ||
Recoveries | 538 | 5 | 558 | 65 |
Net recoveries | 538 | 5 | 440 | 27 |
Balance at end of period | 2,228 | 2,766 | 2,228 | 2,766 |
Non-Commercial [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Balance, beginning of period | 1,653 | 1,315 | 1,649 | 894 |
Provision for (recovery of) loan losses | (226) | 416 | (267) | 813 |
Charge-offs | (13) | (17) | (41) | (41) |
Recoveries | 28 | 14 | 101 | 62 |
Net recoveries | 15 | (3) | 60 | 21 |
Balance at end of period | $ 1,442 | $ 1,728 | $ 1,442 | $ 1,728 |
Allowance for Loan Losses - Sch
Allowance for Loan Losses - Schedule of Loans and Reserve Balances by Loan Segment Both Individually and Collectively Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | $ 208 | $ 147 | ||||
Individually Evaluated, Loans | 7,298 | 8,154 | ||||
Collectively Evaluated, Reserve | 3,462 | 4,255 | ||||
Collectively Evaluated, Loans | 425,037 | 459,587 | ||||
Total Reserve | 3,670 | $ 4,174 | 4,402 | $ 4,494 | $ 3,426 | $ 1,981 |
Total Loans | 432,335 | 467,741 | ||||
Commercial [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | 91 | 53 | ||||
Individually Evaluated, Loans | 4,426 | 5,237 | ||||
Collectively Evaluated, Reserve | 2,137 | 2,700 | ||||
Collectively Evaluated, Loans | 278,715 | 317,094 | ||||
Total Reserve | 2,228 | 2,521 | 2,753 | 2,766 | 2,111 | 1,087 |
Total Loans | 283,141 | 322,331 | ||||
Non-Commercial [Member] | ||||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | 117 | 94 | ||||
Individually Evaluated, Loans | 2,872 | 2,917 | ||||
Collectively Evaluated, Reserve | 1,325 | 1,555 | ||||
Collectively Evaluated, Loans | 146,322 | 142,493 | ||||
Total Reserve | 1,442 | $ 1,653 | 1,649 | $ 1,728 | $ 1,315 | $ 894 |
Total Loans | $ 149,194 | $ 145,410 |
Allowance for Loan Losses - Pas
Allowance for Loan Losses - Past Due Information of Loan Portfolio by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable Impaired [Line Items] | ||
Total Loans | $ 432,335 | $ 467,741 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 102 | 397 |
Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 3,223 | 3,758 |
Financial Asset, Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 3,325 | 4,155 |
Financial Asset, Not Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 429,010 | 463,586 |
Real Estate - Commercial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Loans | 149,700 | 147,229 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate - Commercial [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 2,125 | 2,076 |
Real Estate - Commercial [Member] | Financial Asset, Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 2,125 | 2,076 |
Real Estate - Commercial [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 147,575 | 145,153 |
Other Real Estate Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Loans | 31,963 | 32,920 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Other Real Estate Construction [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 52 | |
Other Real Estate Construction [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 1,039 | |
Other Real Estate Construction [Member] | Financial Asset, Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 1,091 | |
Other Real Estate Construction [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 31,963 | 31,829 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Loans | 5,700 | 7,709 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate 1 - 4 Family Construction [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 5,700 | 7,709 |
Real Estate - Residential [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Loans | 81,959 | 75,013 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate - Residential [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 299 | |
Real Estate - Residential [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 555 | 595 |
Real Estate - Residential [Member] | Financial Asset, Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 555 | 894 |
Real Estate - Residential [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 81,404 | 74,119 |
Home Equity [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Loans | 52,440 | 51,615 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Home Equity [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 74 | |
Home Equity [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 233 | 48 |
Home Equity [Member] | Financial Asset, Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 307 | 48 |
Home Equity [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 52,133 | 51,567 |
Other Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Loans | 5,394 | 3,098 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Other Loans [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 5,394 | 3,098 |
Paycheck Protection Program [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Loans | 26,042 | 74,750 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Paycheck Protection Program [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 26,042 | 74,750 |
Commercial Loan [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Loans | 70,042 | 64,334 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Commercial Loan [Member] | Loans 90 Days or More Past Due and Non - Accrual [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 310 | |
Commercial Loan [Member] | Financial Asset, Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 310 | |
Commercial Loan [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 69,732 | 64,334 |
Consumer Loans [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Loans | 9,095 | 11,073 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Consumer Loans [Member] | Loans 30-89 Days Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 28 | 46 |
Consumer Loans [Member] | Financial Asset, Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | 28 | 46 |
Consumer Loans [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Total Past Due Loans | $ 9,067 | $ 11,027 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Allowance For Loan Losses [Line Items] | ||
Financing receivable recorded investment number of days past due | 90 days | |
Accruing Loans 90 or More Days Past Due | $ 0 | $ 0 |
Real Estate - Residential [Member] | ||
Allowance For Loan Losses [Line Items] | ||
Foreclosed residential real estate, loan amount | 0 | 0 |
Real estate in process of foreclosure, loan amount | 0 | 51,000 |
Accruing Loans 90 or More Days Past Due | $ 0 | $ 0 |
Allowance for Loan Losses - Com
Allowance for Loan Losses - Composition of Nonaccrual Loans by Class (Detail) - Loans 90 Days or More Past Due and Non - Accrual [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | $ 3,223 | $ 3,758 |
Real Estate - Commercial [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 2,125 | 2,076 |
Other Real Estate Construction [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 1,039 | |
Real Estate - Residential [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 555 | 595 |
Home Equity [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | 233 | $ 48 |
Commercial Loan [Member] | ||
Financing Receivable Impaired [Line Items] | ||
Increase in non-performing loans | $ 310 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Risk Grades of Portfolio by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 432,335 | $ 467,741 |
Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 149,700 | 147,229 |
Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 31,963 | 32,920 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 5,700 | 7,709 |
Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 81,959 | 75,013 |
Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 52,440 | 51,615 |
Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 5,394 | 3,098 |
Paycheck Protection Program [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 26,042 | 74,750 |
Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 70,042 | 64,334 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 9,095 | 11,073 |
Pass [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 418,231 | 455,617 |
Pass [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 142,353 | 143,222 |
Pass [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 31,653 | 31,263 |
Pass [Member] | Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 5,700 | 7,709 |
Pass [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 78,696 | 72,085 |
Pass [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 51,765 | 50,661 |
Pass [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 5,394 | 3,098 |
Pass [Member] | Paycheck Protection Program [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 26,042 | 74,750 |
Pass [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 67,547 | 61,828 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 9,081 | 11,001 |
Watch [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 9,434 | 6,603 |
Watch [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 4,431 | 1,113 |
Watch [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 56 | 344 |
Watch [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,306 | 2,145 |
Watch [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 442 | 661 |
Watch [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,185 | 2,321 |
Watch [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 14 | 19 |
Sub-standard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 4,670 | 5,521 |
Sub-standard [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,916 | 2,894 |
Sub-standard [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 254 | 1,313 |
Sub-standard [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 957 | 783 |
Sub-standard [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 233 | 293 |
Sub-standard [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 310 | 185 |
Sub-standard [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 53 |
Allowance for Loan Losses - S_2
Allowance for Loan Losses - Summary of Performing and Nonperforming Loans by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 432,335 | $ 467,741 |
Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 149,700 | 147,229 |
Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 31,963 | 32,920 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 5,700 | 7,709 |
Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 81,959 | 75,013 |
Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 52,440 | 51,615 |
Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 5,394 | 3,098 |
Paycheck Protection Program [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 26,042 | 74,750 |
Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 70,042 | 64,334 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 9,095 | 11,073 |
Performing [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 429,112 | 463,983 |
Performing [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 147,575 | 145,153 |
Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 31,963 | 31,881 |
Performing [Member] | Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 5,700 | 7,709 |
Performing [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 81,404 | 74,418 |
Performing [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 52,207 | 51,567 |
Performing [Member] | Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 5,394 | 3,098 |
Performing [Member] | Paycheck Protection Program [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 26,042 | 74,750 |
Performing [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 69,732 | 64,334 |
Performing [Member] | Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 9,095 | 11,073 |
Non-Performing [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 3,223 | 3,758 |
Non-Performing [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 2,125 | 2,076 |
Non-Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 1,039 | |
Non-Performing [Member] | Real Estate - Residential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 555 | 595 |
Non-Performing [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | 233 | $ 48 |
Non-Performing [Member] | Commercial Loan [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 310 |
Allowance for Loan Losses - S_3
Allowance for Loan Losses - Summary of Loans Deemed Impaired and Specific Reserves Allocated by Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | $ 7,298 | $ 7,298 | $ 8,154 | ||
Recorded Investment With No Allowance | 3,095 | 3,095 | 4,546 | ||
Recorded Investment With Allowance | 4,203 | 4,203 | 3,608 | ||
Related Allowance | 208 | 208 | 147 | ||
Average Recorded Investment | 7,177 | $ 8,584 | 7,439 | $ 8,051 | |
Interest Income | 83 | 87 | 223 | 218 | |
Real Estate - Commercial [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 3,465 | 3,465 | 3,547 | ||
Recorded Investment With No Allowance | 1,689 | 1,689 | 2,076 | ||
Recorded Investment With Allowance | 1,776 | 1,776 | 1,471 | ||
Related Allowance | 69 | 69 | 33 | ||
Average Recorded Investment | 3,415 | 3,576 | 3,500 | 3,590 | |
Interest Income | 26 | 41 | 81 | 83 | |
Other Real Estate Construction [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 1,039 | ||||
Recorded Investment With No Allowance | 1,039 | ||||
Average Recorded Investment | 1,112 | 260 | 848 | ||
Interest Income | 1 | 2 | |||
Real Estate - Residential [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 2,639 | 2,639 | 2,856 | ||
Recorded Investment With No Allowance | 1,203 | 1,203 | 1,416 | ||
Recorded Investment With Allowance | 1,436 | 1,436 | 1,440 | ||
Related Allowance | 116 | 116 | 84 | ||
Average Recorded Investment | 2,718 | 3,122 | 2,755 | 3,154 | |
Interest Income | 27 | 39 | 99 | 108 | |
Home Equity [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 233 | 233 | 48 | ||
Recorded Investment With No Allowance | 202 | 202 | 15 | ||
Recorded Investment With Allowance | 31 | 31 | 33 | ||
Related Allowance | 1 | 1 | 10 | ||
Average Recorded Investment | 234 | 64 | 188 | 72 | |
Interest Income | 1 | 1 | |||
Commercial Loan [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 961 | 961 | 651 | ||
Recorded Investment With No Allowance | 1 | 1 | |||
Recorded Investment With Allowance | 960 | 960 | 651 | ||
Related Allowance | 22 | 22 | 20 | ||
Average Recorded Investment | 806 | 693 | 728 | 368 | |
Interest Income | 30 | 6 | 42 | 23 | |
Consumer Loans [Member] | |||||
Financing Receivable Impaired [Line Items] | |||||
Unpaid Principal Balance | 13 | ||||
Recorded Investment With Allowance | $ 13 | ||||
Average Recorded Investment | $ 4 | $ 17 | $ 8 | 19 | |
Interest Income | $ 1 |
Troubled Debt Restructures - Ad
Troubled Debt Restructures - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2021USD ($)Contract | Mar. 31, 2021Contract | Sep. 30, 2020Contract | Sep. 30, 2021USD ($)Contract | Sep. 30, 2020USD ($)Contract | Sep. 30, 2021USD ($)Contract | Dec. 31, 2020USD ($)Contract | Sep. 30, 2020Contract | |
Financing Receivable Modifications [Line Items] | ||||||||
Outstanding balance of TDRs | $ | $ 4,100,000 | $ 4,100,000 | $ 4,100,000 | $ 4,400,000 | ||||
Number of contracts on non-accruing basis | 1 | 1 | ||||||
Outstanding balance of TDRs non accruing basis | $ | $ 46,000 | 46,000 | $ 46,000 | $ 46,000 | ||||
Number of TDR's payment default | 0 | 1 | ||||||
TDR is defined as being past due | 90 days | |||||||
Allowance for loan loss on TDR | $ | $ 149,000 | $ 119,000 | ||||||
Number of loans currently under a COVID-19 modification | 4 | 1 | 6 | 6 | ||||
Total COVID-19 modifications [Member] | ||||||||
Financing Receivable Modifications [Line Items] | ||||||||
Number of loans currently under a COVID-19 modification | 0 | |||||||
Number of COVID-19 mods out of accommodation | 208 | |||||||
Amount of COVID-19 modifications out of accommodation | $ | $ 53,600,000 | |||||||
Number of modified loans paid off | 49 | |||||||
Loan paid | $ | $ 11,100,000 | $ 11,100,000 | $ 11,100,000 | |||||
Number of loans modified that are out of accommodation and current | 156 | |||||||
Loan balances | $ | $ 42,300,000 | |||||||
Number of modified loans due to noncompliance | 3 | |||||||
Amount of COVID-19 modifications that were removed from accommodation due to noncompliance | $ | $ 170,000 | $ 170,000 | $ 170,000 |
Troubled Debt Restructures - Br
Troubled Debt Restructures - Breakdown of Types of Concessions Made by Loan Class (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021USD ($)Contract | Sep. 30, 2020USD ($)Contract | Sep. 30, 2021USD ($)Contract | Sep. 30, 2020USD ($)Contract | |
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | Contract | 4 | 1 | 6 | 6 |
Pre-Modification Outstanding Recorded Investment | $ 1,475 | $ 23 | $ 2,339 | $ 1,870 |
Post-Modification Outstanding Recorded Investment | $ 1,475 | $ 23 | $ 2,339 | $ 1,870 |
Other Payment Terms [Member] | Commercial Loan [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 648 | $ 690 | ||
Post-Modification Outstanding Recorded Investment | $ 648 | $ 690 | ||
Other Payment Terms [Member] | Real Estate - Commercial [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | Contract | 2 | 2 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 1,223 | $ 1,223 | $ 829 | |
Post-Modification Outstanding Recorded Investment | $ 1,223 | $ 1,223 | $ 829 | |
Other Payment Terms [Member] | Real Estate - Residential [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Contracts | Contract | 2 | 1 | 3 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 252 | $ 23 | $ 468 | $ 351 |
Post-Modification Outstanding Recorded Investment | $ 252 | $ 23 | $ 468 | $ 351 |
Troubled Debt Restructures - Sc
Troubled Debt Restructures - Schedule of Status of Types of Debt Restructuring (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2021USD ($)Contract | Sep. 30, 2020USD ($)Contract | Sep. 30, 2021USD ($)Contract | Sep. 30, 2020USD ($)Contract | Sep. 30, 2021USD ($)Contract | Sep. 30, 2020USD ($)Contract | Dec. 31, 2020USD ($) | |
Financing Receivable Modifications [Line Items] | |||||||
Number of Loans | Contract | 4 | 1 | 6 | 6 | |||
Recorded Investments | $ | $ 4,100 | $ 4,100 | $ 4,100 | $ 4,400 | |||
Paid In Full [Member] | |||||||
Financing Receivable Modifications [Line Items] | |||||||
Number of Loans | Contract | 10 | 1 | |||||
Recorded Investments | $ | 1,253 | $ 91 | 1,253 | $ 91 | $ 1,253 | $ 91 | |
Paying as Restructured [Member] | |||||||
Financing Receivable Modifications [Line Items] | |||||||
Number of Loans | Contract | 7 | 9 | |||||
Recorded Investments | $ | 2,462 | 2,083 | 2,462 | 2,083 | $ 2,462 | $ 2,083 | |
Below Market Interest Rate [Member] | Paying as Restructured [Member] | |||||||
Financing Receivable Modifications [Line Items] | |||||||
Number of Loans | Contract | 1 | ||||||
Recorded Investments | $ | 219 | 219 | $ 219 | ||||
Forgiveness of Principal Other [Member] | Paid In Full [Member] | |||||||
Financing Receivable Modifications [Line Items] | |||||||
Number of Loans | Contract | 10 | 1 | |||||
Recorded Investments | $ | 1,253 | 91 | 1,253 | 91 | $ 1,253 | $ 91 | |
Forgiveness of Principal Other [Member] | Paying as Restructured [Member] | |||||||
Financing Receivable Modifications [Line Items] | |||||||
Number of Loans | Contract | 7 | 8 | |||||
Recorded Investments | $ | $ 2,462 | $ 1,864 | $ 2,462 | $ 1,864 | $ 2,462 | $ 1,864 |
Leases - Additional Information
Leases - Additional Information (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2021USD ($)OfficeLocationBranch | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | |
Lessee Lease Description [Line Items] | |||
Number of office locations leased | OfficeLocation | 3 | ||
Number of branch locations leased | Branch | 2 | ||
Lessee, Operating Lease, Existence of Option to Extend [true false] | true | ||
Description of option to extend | Certain lease arrangements contain extension options which range from five to ten years at the then fair market rental rates. | ||
Operating Lease, Liability | $ 2,311 | $ 2,311 | |
Operating lease costs | 99,000 | 296,000 | |
ASU 2016-02 [Member] | |||
Lessee Lease Description [Line Items] | |||
Operating Lease, Right-of-Use Asset | 2,200 | 2,200 | $ 1,700 |
Operating Lease, Liability | $ 2,300 | $ 2,300 | $ 1,800 |
Minimum [Member] | |||
Lessee Lease Description [Line Items] | |||
Operating leases remaining term | 5 years | 5 years | |
Option to extend term | 5 years | ||
Maximum [Member] | |||
Lessee Lease Description [Line Items] | |||
Operating leases remaining term | 8 years | 8 years | |
Option to extend term | 10 years |
Leases - Summary of Other Infor
Leases - Summary of Other Information Related to Operating Leases (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash paid for amounts included in the measurement of lease liabilities | ||
Operating cash flows from operating leases | $ 292 | $ 285 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 2,186 | $ 1,699 |
Weighted-average remaining lease term - operating leases, in years | 6 years 1 month 6 days | 7 years 2 months 12 days |
Weighted-average discount rate - operating leases | 2.46% | 2.95% |
Leases - Summary of the Maturit
Leases - Summary of the Maturity of Remaining Lease Liabilities (Detail) $ in Thousands | Sep. 30, 2021USD ($) |
Operating Lease Liabilities Payments Due [Abstract] | |
2021 | $ 98 |
2022 | 400 |
2023 | 408 |
2024 | 417 |
2025 | 427 |
2026 and thereafter | 753 |
Total lease payments | 2,503 |
Less: Interest | (192) |
Operating Lease, Liability | $ 2,311 |
Commitments and Contingencies -
Commitments and Contingencies - Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Loss Contingencies [Line Items] | ||
Total commitments | $ 175,163 | $ 149,084 |
Commitments to Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Total commitments | 153,057 | 127,986 |
Credit Card Commitments [Member] | ||
Loss Contingencies [Line Items] | ||
Total commitments | 13,955 | 12,821 |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Total commitments | $ 8,151 | $ 8,277 |
Fair Value Disclosures - Fair V
Fair Value Disclosures - Fair Value Information for Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | $ 291,049 | $ 191,513 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 16,423 | |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 274,626 | 191,513 |
Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 10,081 | 4,183 |
Fair Value on a Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 292,654 | 194,938 |
Total liabilities at fair value on a recurring basis | 388 | |
Fair Value on a Recurring Basis [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 16,423 | |
Fair Value on a Recurring Basis [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 39,567 | 37,389 |
Fair Value on a Recurring Basis [Member] | GSE - Mortgage-backed Securities and CMO’s [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 100,985 | 41,496 |
Fair Value on a Recurring Basis [Member] | Asset-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 37,562 | 39,281 |
Fair Value on a Recurring Basis [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 86,431 | 69,164 |
Fair Value on a Recurring Basis [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 409 | 1,352 |
Fair Value on a Recurring Basis [Member] | Mortgage Banking Derivatives [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 1,196 | 2,073 |
Total liabilities at fair value on a recurring basis | 388 | |
Fair Value on a Recurring Basis [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 16,832 | 1,352 |
Fair Value on a Recurring Basis [Member] | Level 1 [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 16,423 | |
Fair Value on a Recurring Basis [Member] | Level 1 [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 409 | 1,352 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 274,786 | 191,513 |
Total liabilities at fair value on a recurring basis | 388 | |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 39,567 | 37,389 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | GSE - Mortgage-backed Securities and CMO’s [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 100,985 | 41,496 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | Asset-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 37,562 | 39,281 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 86,431 | 69,164 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | Mortgage Banking Derivatives [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 160 | |
Total liabilities at fair value on a recurring basis | 388 | |
Fair Value on a Recurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 1,036 | 2,073 |
Fair Value on a Recurring Basis [Member] | Level 3 [Member] | Mortgage Banking Derivatives [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 1,036 | 2,073 |
Fair Value on a Recurring Basis [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | 10,081 | 4,183 |
Fair Value on a Recurring Basis [Member] | Corporate Bonds [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value on a recurring basis | $ 10,081 | $ 4,183 |
Fair Value Disclosures - Schedu
Fair Value Disclosures - Schedule of Reconciliation for Recurring Level 3 Fair Value Measurements (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Fair Value Disclosures [Abstract] | |
Beginning Balance | $ 2,073 |
Change in fair value: | |
Included in income from mortgage banking | (1,037) |
Ending Balance | $ 1,036 |
Fair Value Disclosure (Detail)
Fair Value Disclosure (Detail) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Fair Value Disclosures [Abstract] | ||
Fair value of notional amount | $ 32.6 | $ 66.5 |
Rate of anticipated remaining loan costs | 0.83% | |
Projected pull-through rate | 85.95% | 86.00% |
Fair Value Disclosures - Assets
Fair Value Disclosures - Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Estimated Fair Value | $ 291,049 | $ 191,513 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Estimated Fair Value | 16,423 | |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Estimated Fair Value | 274,626 | 191,513 |
Fair Value on a Nonrecurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,995 | 3,461 |
Available-for-sale Securities, Estimated Fair Value | 3,995 | 3,461 |
Fair Value on a Nonrecurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,995 | 3,461 |
Available-for-sale Securities, Estimated Fair Value | $ 3,995 | $ 3,461 |
Fair Value Disclosures - Quanti
Fair Value Disclosures - Quantitative Information about Level 3 Fair Value Measurements (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Discounted Cash Flows [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted cash flows | Discounted cash flows |
Discounted Cash Flows [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 4.00% | 4.00% |
Discounted Cash Flows [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 8.75% | 8.75% |
Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted appraisals | Discounted appraisals |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 0.00% | 0.00% |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 25.00% | 25.00% |
Fair Values of Financial Inst_3
Fair Values of Financial Instruments and Interest Rate Risk - Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
FINANCIAL ASSETS | ||
Securities available for sale | $ 291,049 | $ 191,513 |
Securities held to maturity | 29,687 | 29,600 |
Equity securities | 409 | 1,352 |
Loans held for investment, net | 428,665 | 463,339 |
Loan servicing rights | 5,125 | 3,957 |
Accrued interest receivable | 2,679 | 2,524 |
FINANCIAL LIABILITIES | ||
Long-term debt | 29,511 | 10,992 |
Accrued interest payable | 69 | 21 |
Carrying Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 116,074 | 88,868 |
Securities available for sale | 291,049 | 191,513 |
Securities held to maturity | 28,588 | 28,207 |
Equity securities | 409 | 1,352 |
Loans held for investment, net | 428,665 | 463,339 |
Loans held for sale | 9,737 | 6,959 |
Restricted stock | 921 | 1,166 |
Loan servicing rights | 5,125 | 3,957 |
Mortgage banking derivatives | 1,196 | 2,073 |
Accrued interest receivable | 2,679 | 2,523 |
FINANCIAL LIABILITIES | ||
Deposits | 813,324 | 743,196 |
Short-term borrowings | 1,130 | 710 |
Long-term debt | 29,511 | 10,992 |
Mortgage banking derivatives | 388 | |
Accrued interest payable | 69 | 21 |
Estimated Fair Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 116,063 | 88,879 |
Securities available for sale | 291,049 | 191,513 |
Securities held to maturity | 29,687 | 29,600 |
Equity securities | 409 | 1,352 |
Loans held for investment, net | 424,378 | 458,706 |
Loans held for sale | 9,737 | 6,959 |
Restricted stock | 921 | 1,166 |
Loan servicing rights | 5,411 | 4,054 |
Mortgage banking derivatives | 1,196 | 2,073 |
Accrued interest receivable | 2,679 | 2,523 |
FINANCIAL LIABILITIES | ||
Deposits | 813,310 | 743,378 |
Short-term borrowings | 1,130 | 710 |
Long-term debt | 29,271 | 10,909 |
Mortgage banking derivatives | 388 | |
Accrued interest payable | 69 | 21 |
Level 1 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 112,588 | 87,623 |
Securities available for sale | 16,423 | |
Equity securities | 409 | 1,352 |
Restricted stock | 921 | 1,166 |
Level 2 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 3,475 | 1,256 |
Securities available for sale | 274,626 | 191,513 |
Securities held to maturity | 16,777 | 19,664 |
Loans held for sale | 9,737 | 6,959 |
Loan servicing rights | 5,411 | 4,054 |
Mortgage banking derivatives | 160 | |
FINANCIAL LIABILITIES | ||
Deposits | 813,310 | 743,378 |
Short-term borrowings | 1,130 | 710 |
Mortgage banking derivatives | 388 | |
Level 3 [Member] | ||
FINANCIAL ASSETS | ||
Securities held to maturity | 12,910 | 9,936 |
Loans held for investment, net | 424,378 | 458,706 |
Mortgage banking derivatives | 1,036 | 2,073 |
Accrued interest receivable | 2,679 | 2,523 |
FINANCIAL LIABILITIES | ||
Long-term debt | 29,271 | 10,909 |
Accrued interest payable | $ 69 | $ 21 |
Mortgage Banking Derivatives -
Mortgage Banking Derivatives - Summary of Notional Amount and Fair Value of Mortgage Banking Derivatives (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Included in mortgage banking derivatives liability: | ||
Derivative liability, fair value | $ 175,163 | $ 149,084 |
Interest Rate Lock Commitments [Member] | ||
Included in mortgage banking derivatives asset: | ||
Derivative asset, notional amount | 32,564 | 66,452 |
Included in mortgage banking derivatives asset: | ||
Derivative asset, fair value | 1,036 | 2,073 |
Forward Sale And Commitments [Member] | ||
Included in mortgage banking derivatives asset: | ||
Derivative asset, notional amount | 246 | |
Included in mortgage banking derivatives liability: | ||
Derivative liability, notional amount | 47,260 | |
Included in mortgage banking derivatives asset: | ||
Derivative asset, fair value | 7 | |
Included in mortgage banking derivatives liability: | ||
Derivative liability, fair value | $ 388 | |
To-be-announced Mortgage-backed Securities Trades [Member] | ||
Included in mortgage banking derivatives asset: | ||
Derivative asset, notional amount | 35,500 | |
Included in mortgage banking derivatives asset: | ||
Derivative asset, fair value | $ 153 |
Long-Term Debt - Additional Inf
Long-Term Debt - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | |
Debt Instrument [Line Items] | |||||
Line of credit | $ 96,200,000 | $ 96,200,000 | |||
Line of credit | $ 0 | $ 0 | |||
Line of credit facility percentage of outstanding common shares | 100.00% | 100.00% | |||
Proceeds from Private placement, outstanding balance | $ 29,511,000 | $ 29,511,000 | $ 10,992,000 | ||
Final maturity drops period | 5 years | ||||
Percentage of proceeds from sale of securities imposed as reduction | 20.00% | ||||
Unamortized debt issuance cost | $ 481,000 | 481,000 | 0 | ||
10-year Subordinated Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Fixed rate junior subordinated debt securities per security | $ 12,000,000 | $ 12,000,000 | |||
Debt securities final maturity date | Sep. 3, 2031 | ||||
Interest rate of private placement | 3.50% | 3.50% | |||
Subordinated notes description | From and including September 3, 2026 to but excluding September 3, 2031, or up to an early redemption date, the interest rate on the 10-year subordinated notes will reset quarterly to an annual rate equal to the then-current three-month SOFR plus 283 basis points payable quarterly in arrears. | ||||
10-year Subordinated Debt [Member] | SOFR Plus [Member] | |||||
Debt Instrument [Line Items] | |||||
Subordinated notes variable interest rate percentage | 2.83% | ||||
15-year Subordinated Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Fixed rate junior subordinated debt securities per security | $ 8,000,000 | $ 8,000,000 | |||
Debt securities final maturity date | Sep. 3, 2036 | ||||
Interest rate of private placement | 4.00% | 4.00% | |||
Subordinated notes description | From and including September 3, 2031 to but excluding September 3, 2036, or up to an early redemption date, the interest rate on the 15-year subordinated notes will reset quarterly to an annual rate equal to the then-current three-month SOFR plus 292 basis points payable quarterly in arrears. | ||||
15-year Subordinated Debt [Member] | SOFR Plus [Member] | |||||
Debt Instrument [Line Items] | |||||
Subordinated notes variable interest rate percentage | 2.92% | ||||
Junior Subordinated Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Fixed rate junior subordinated debt securities per security | $ 1,000 | ||||
Minimum investment required under private placement | $ 50,000 | ||||
Debt securities final maturity date | Sep. 30, 2029 | ||||
Proceeds from Private placement, outstanding balance | $ 10,000,000 | $ 10,000,000 | $ 10,000,000 | ||
Debt instrument earliest redemption date | Sep. 30, 2024 | ||||
Interest rate of private placement | 5.25% | 5.25% | |||
Final maturity drops period | 5 years | ||||
Percentage of proceeds from sale of securities imposed as reduction | 20.00% | ||||
TIB [Member] | |||||
Debt Instrument [Line Items] | |||||
Line of credit | $ 3,000,000 | ||||
Line of credit facility, amount outstanding | $ 0 | $ 0 |
Long-Term Debt - Scheduled Matu
Long-Term Debt - Scheduled Maturities of Advances and Notes Payable (Detail) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Disclosure [Abstract] | ||
Thereafter | $ 29,992,000 | |
Long-term debt, gross | 29,992,000 | |
Less: unamortized debt issuance costs | (481,000) | $ 0 |
Total | $ 29,511,000 | $ 10,992,000 |