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Fair Value (Tables)
 9 Months Ended
Sep. 30, 2017
Fair Value [Abstract]  
Financial instruments that were measured at fair value on a recurring and nonrecurring basis

The following table summarizes the Company’s financial instruments that were measured at fair value on a recurring and nonrecurring basis at September 30, 2017.

 

($ in thousands)        
Description of Financial Instruments  Fair Value at
September
30, 2017		   Quoted Prices in
Active Markets for
Identical Assets
(Level 1)		   Significant Other
Observable Inputs
(Level 2)		   Significant
Unobservable Inputs
(Level 3)		 
Recurring                
     Securities available for sale:                    
        Government-sponsored enterprise securities  $8,992    —    8,992    — 
        Mortgage-backed securities   155,535    —    155,535    — 
        Corporate bonds   34,397    —    34,397    — 
          Total available for sale securities  $198,924    —    198,924    — 
                     
Nonrecurring                    
     Impaired loans  $14,932    —    —    14,932 
     Foreclosed real estate   9,356    —    —    9,356 

 

The following table summarizes the Company’s financial instruments that were measured at fair value on a recurring and nonrecurring basis at December 31, 2016.

 

($ in thousands)        
Description of Financial Instruments  Fair Value at
December 31,
2016		   Quoted Prices in
Active Markets
for Identical
Assets (Level 1)		   Significant Other
Observable Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
Recurring                
Securities available for sale:                    
Government-sponsored enterprise securities  $17,490    —    17,490    — 
Mortgage-backed securities   148,065    —    148,065    — 
Corporate bonds   33,600    —    33,600    — 
Equity securities   174    —    174    — 
Total available for sale securities  $199,329    —    199,329    — 
                     
Nonrecurring                    
     Impaired loans  $12,284    —    —    12,284 
     Foreclosed real estate   9,532    —    —    9,532 
Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis

For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of September 30, 2017, the significant unobservable inputs used in the fair value measurements were as follows:

 

($ in thousands)       
Description  Fair Value at
September
30, 2017		   Valuation
Technique		  Significant Unobservable
Inputs		  General Range
of Significant
Unobservable
Input Values
Impaired loans  $14,932   Appraised value; PV of expected cash flows  Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell  0-10%
Foreclosed real estate   9,356   Appraised value; List or contract price  Discounts to reflect current market conditions, abbreviated holding period and estimated costs to sell  0-10%
               

 

For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of December 31, 2016, the significant unobservable inputs used in the fair value measurements were as follows:

 

($ in thousands)       
Description  Fair Value at
December 31,
2016		   Valuation
Technique		  Significant Unobservable
Inputs		  General Range
of Significant
Unobservable
Input Values
Impaired loans  $12,284   Appraised value; PV of expected cash flows  Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell  0-10%
Foreclosed real estate   9,532   Appraised value; List or contract price  Discounts to reflect current market conditions, abbreviated holding period and estimated costs to sell  0-10%
               
Schedule of the carrying amounts and estimated fair values of financial instruments

The carrying amounts and estimated fair values of financial instruments at September 30, 2017 and December 31, 2016 are as follows:

 

      September 30, 2017   December 31, 2016 

 

($ in thousands)

  Level in Fair
Value Hierarchy		  Carrying
Amount		   Estimated
Fair Value		   Carrying
Amount		   Estimated
Fair Value		 
                    
Cash and due from banks, noninterest-bearing  Level 1  $82,758    82,758    71,645    71,645 
Due from banks, interest-bearing  Level 1   326,089    326,089    234,348    234,348 
Securities available for sale  Level 2   198,924    198,924    199,329    199,329 
Securities held to maturity  Level 2   123,156    124,878    129,713    130,195 
Presold mortgages in process of settlement  Level 1   17,426    17,426    2,116    2,116 
Total loans, net of allowance  Level 3   3,405,162    3,396,635    2,686,931    2,650,820 
Accrued interest receivable  Level 1   11,445    11,445    9,286    9,286 
Bank-owned life insurance  Level 1   88,081    88,081    74,138    74,138 
                        
Deposits  Level 2   3,651,241    3,647,532    2,947,353    2,944,968 
Borrowings  Level 2   397,525    388,477    271,394    263,255 
Accrued interest payable  Level 2   1,143    1,143    539    539