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FAIR VALUE DISCLOSURES (Tables) | 9 Months Ended
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Sep. 30, 2020
FAIR VALUE DISCLOSURES |
Schedule of Assets Measured at Fair Value on a Recurring Basis | The table below presents the balances of assets measured at fair value on a recurring basis: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2020
​ |  | Fair Value Measurements Using | ​ | Assets
(dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | at Fair Value
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government sponsored agencies | ​ | $ | 0 | ​ | $ | 10,026 | ​ | $ | 0 | ​ | $ | 10,026
Mortgage-backed securities: residential | ​ | ​ | 0 | ​ | ​ | 248,266 | ​ | ​ | 0 | ​ | ​ | 248,266
Mortgage-backed securities: commercial | ​ |  | 0 | ​ | ​ | 39,161 | ​ | ​ | 0 | ​ | ​ | 39,161
State and municipal securities | ​ |  | 0 | ​ | ​ | 346,436 | ​ | ​ | 145 | ​ | ​ | 346,581
Total Securities | ​ |  | 0 | ​ | ​ | 643,889 | ​ | ​ | 145 | ​ | ​ | 644,034
Mortgage banking derivative | ​ |  | 0 | ​ | ​ | 1,075 | ​ | ​ | 0 | ​ | ​ | 1,075
Interest rate swap derivative | ​ |  | 0 | ​ | ​ | 25,184 | ​ | ​ | 0 | ​ | ​ | 25,184
Total assets | ​ | $ | 0 | ​ | $ | 670,148 | ​ | $ | 145 | ​ | $ | 670,293
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mortgage banking derivative | ​ |  | 0 | ​ | ​ | 41 | ​ | ​ | 0 | ​ | ​ | 41
Interest rate swap derivative | ​ |  | 0 | ​ | ​ | 25,203 | ​ | ​ | 0 | ​ | ​ | 25,203
Total liabilities | ​ | $ | 0 | ​ | $ | 25,244 | ​ | $ | 0 | ​ | $ | 25,244
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2019
​ | ​ | Fair Value Measurements Using | ​ | Assets
(dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | at Fair Value
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Mortgage-backed securities: residential | ​ | $ | 0 | ​ | $ | 288,181 | ​ | $ | 0 | ​ | $ | 288,181
Mortgage-backed securities: commercial | ​ |  | 0 | ​ | ​ | 36,972 | ​ | ​ | 0 | ​ | ​ | 36,972
State and municipal securities | ​ |  | 0 | ​ | ​ | 282,935 | ​ | ​ | 145 | ​ | ​ | 283,080
Total Securities | ​ |  | 0 | ​ | ​ | 608,088 | ​ | ​ | 145 | ​ | ​ | 608,233
Mortgage banking derivative | ​ |  | 0 | ​ | ​ | 198 | ​ | ​ | 0 | ​ | ​ | 198
Interest rate swap derivative | ​ |  | 0 | ​ | ​ | 7,263 | ​ | ​ | 0 | ​ | ​ | 7,263
Total assets | ​ | $ | 0 | ​ | $ | 615,549 | ​ | $ | 145 | ​ | $ | 615,694
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mortgage banking derivative | ​ |  | 0 | ​ | ​ | 14 | ​ | ​ | 0 | ​ | ​ | 14
Interest rate swap derivative | ​ |  | 0 | ​ | ​ | 7,860 | ​ | ​ | 0 | ​ | ​ | 7,860
Total liabilities | ​ | $ | 0 | ​ | $ | 7,874 | ​ | $ | 0 | ​ | $ | 7,874
​
Schedule of Assets Measured at Fair Value on a Nonrecurring Basis | The fair value of Level 3 available-for-sale securities was immaterial and thus did not require additional recurring fair value disclosure. The table below presents the balances of assets measured at fair value on a nonrecurring basis: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2020
​ | ​ | Fair Value Measurements Using | ​ | Assets
(dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | at Fair Value
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Working capital lines of credit loans | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 432 | ​ | $ | 432
Non-working capital loans | ​ |  | 0 | ​ | ​ | 0 | ​ | ​ | 5,666 | ​ | ​ | 5,666
Commercial real estate and multi-family residential loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Owner occupied loans | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 2,678 | ​ | ​ | 2,678
Agri-business and agricultural loans: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans secured by farmland | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 81 | ​ | ​ | 81
Consumer 1‑4 family mortgage loans: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Closed end first mortgage loans | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 393 | ​ | ​ | 393
Open end and junior lien loans | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 585 | ​ | ​ | 585
Total impaired loans | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 9,835 | ​ | $ | 9,835
Other real estate owned | ​ |  | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0
Mortgage servicing rights, net of valuation allowance | ​ | ​ | 0 | ​ | ​ | 3,565 | ​ | ​ | 0 | ​ | ​ | 3,565
Total assets | ​ | $ | 0 | ​ | $ | 3,565 | ​ | $ | 9,835 | ​ | $ | 13,400
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2019
​ | ​ | Fair Value Measurements Using | ​ | Assets
(dollars in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | at Fair Value
Assets |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Impaired loans: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Commercial and industrial loans: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Working capital lines of credit loans | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 3,126 | ​ | $ | 3,126
Non-working capital loans | ​ |  | 0 | ​ | ​ | 0 | ​ | ​ | 6,374 | ​ | ​ | 6,374
Commercial real estate and multi-family residential loans: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Construction and land development loans | ​ |  | 0 | ​ | ​ | 0 | ​ | ​ | 43 | ​ | ​ | 43
Owner occupied loans | ​ |  | 0 | ​ | ​ | 0 | ​ | ​ | 1,449 | ​ | ​ | 1,449
Agri-business and agricultural loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans secured by farmland | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 57 | ​ | ​ | 57
Other commercial loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 0
Consumer 1‑4 family mortgage loans: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Closed end first mortgage loans | ​ |  | 0 | ​ | ​ | 0 | ​ | ​ | 474 | ​ | ​ | 474
Open end and junior lien loans | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 587 | ​ | ​ | 587
Other consumer loans | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 11 | ​ | ​ | 11
Total impaired loans | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 12,121 | ​ | $ | 12,121
Other real estate owned | ​ |  | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0
Total assets | ​ | $ | 0 | ​ | $ | 0 | ​ | $ | 12,121 | ​ | $ | 12,121
​
Schedule of Fair Value Measured on Nonrecurring Basis Valuation Techniques | The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at September 30, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(dollars in thousands) |  | Fair Value |  | Valuation Methodology |  | Unobservable Inputs |  | Average |  | Range of Inputs
Impaired loans: |  | ​ |  |  |  |  |  |  |  |  |
Commercial and industrial | ​ | $ | 6,098 | ​ | Collateral based measurements | ​ | Discount to reflect current market conditions and ultimate collectability | ​ | 44 | % | 21%-100%
​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​
Impaired loans: | ​ |  |  |  |  |  |  |  |  |  |
Commercial real estate | ​ |  | 2,678 |  | Collateral based measurements |  | Discount to reflect current market conditions and ultimate collectability |  | 33 | % | 10%-75%
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans: | ​ |  |  |  |  |  |  |  | ​ |  |
Agribusiness and agricultural | ​ |  | 81 |  | Collateral based measurements |  | Discount to reflect current market conditions and ultimate collectability |  | 44 | % | ​
​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​
Impaired loans: | ​ |  |  |  |  |  |  |  |  |  |
Consumer 1-4 family mortgage | ​ |  | 978 |  | Collateral based measurements |  | Discount to reflect current market conditions and ultimate collectability |  | 10 | % | 6%-17%
​ The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at December 31, 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(dollars in thousands) |  | Fair Value |  | Valuation Methodology |  | Unobservable Inputs |  | Average |  | Range of Inputs
Impaired loans: |  | ​ |  |  |  |  |  |  |  |  |
Commercial and industrial | ​ | $ | 9,500 |  | Collateral based measurements |  | Discount to reflect current market conditions and ultimate collectability |  | 53 | % | 1%-100%
​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​
Impaired loans: | ​ |  |  |  |  |  |  |  |  |  |
Commercial real estate | ​ |  | 1,492 |  | Collateral based measurements |  | Discount to reflect current market conditions and ultimate collectability |  | 27 | % | 7%-61%
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans: | ​ |  |  |  |  |  |  |  |  |  |
Agribusiness and agricultural | ​ |  | 57 |  | Collateral based measurements |  | Discount to reflect current market conditions and ultimate collectability |  | 61 | % | ​
​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​
Impaired loans: | ​ |  |  |  |  |  |  |  |  |  |
Consumer 1-4 family mortgage | ​ |  | 1,061 |  | Collateral based measurements |  | Discount to reflect current market conditions and ultimate collectability |  | 14 | % | 5%-100%
​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other consumer | ​ |  | 11 |  | Collateral based measurements |  | Discount to reflect current market conditions and ultimate collectability |  | 36 | % |
​
Schedule of Fair Values and the Related Carrying Values of Financial Instruments | The following table contains the estimated fair values and the related carrying values of the Company’s financial instruments. Items which are not financial instruments are not included. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2020
​ |  | Carrying |  | Estimated Fair Value
(dollars in thousands) |  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Financial Assets: | ​ | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 129,081 | ​ | $ | 126,364 | ​ | $ | 2,717 | ​ | $ | 0 | ​ | $ | 129,081
Securities available-for-sale | ​ | ​ | 644,034 | ​ | ​ | 0 | ​ | ​ | 643,889 | ​ | ​ | 145 | ​ | ​ | 644,034
Real estate mortgages held-for-sale | ​ | ​ | 10,097 | ​ | ​ | 0 | ​ | ​ | 10,543 | ​ | ​ | 0 | ​ | ​ | 10,543
Loans, net | ​ | ​ | 4,529,177 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 4,491,862 | ​ | ​ | 4,491,862
Federal Reserve and Federal Home Loan Bank Stock | ​ | ​ | 13,772 | ​ | ​ | N/A | ​ | ​ | N/A | ​ | ​ | N/A | ​ | ​ | N/A
Accrued interest receivable | ​ | ​ | 18,447 | ​ | ​ | 0 | ​ | ​ | 3,535 | ​ | ​ | 14,912 | ​ | ​ | 18,447
Financial Liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Certificates of deposit | ​ | ​ | (1,213,390) | ​ | ​ | 0 | ​ | ​ | (1,223,667) | ​ | ​ | 0 | ​ | ​ | (1,223,667)
All other deposits | ​ | ​ | (3,554,564) | ​ | ​ | (3,554,564) | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | (3,554,564)
Other short-term borrowings | ​ | ​ | (10,500) | ​ | ​ | 0 | ​ | ​ | (10,500) | ​ | ​ | 0 | ​ | ​ | (10,500)
Federal Home Loan Bank advances | ​ | ​ | (75,000) | ​ | ​ | 0 | ​ | ​ | (69,066) | ​ | ​ | 0 | ​ | ​ | (69,066)
Standby letters of credit | ​ | ​ | (657) | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | (657) | ​ | ​ | (657)
Accrued interest payable | ​ | ​ | (6,303) | ​ | ​ | (56) | ​ | ​ | (6,247) | ​ | ​ | 0 | ​ | ​ | (6,303)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2019
​ |  | Carrying |  | Estimated Fair Value
(dollars in thousands) |  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Financial Assets: | ​ | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 99,381 | ​ | $ | 96,603 | ​ | $ | 2,778 | ​ | $ | 0 | ​ | $ | 99,381
Securities available-for-sale | ​ |  | 608,233 | ​ | ​ | 0 | ​ | ​ | 608,088 | ​ | ​ | 145 | ​ | ​ | 608,233
Real estate mortgages held-for-sale | ​ |  | 4,527 | ​ | ​ | 0 | ​ | ​ | 4,614 | ​ | ​ | 0 | ​ | ​ | 4,614
Loans, net | ​ |  | 4,015,176 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 3,979,006 | ​ | ​ | 3,979,006
Federal Reserve and Federal Home Loan Bank Stock | ​ |  | 13,772 | ​ | ​ | N/A | ​ | ​ | N/A | ​ | ​ | N/A | ​ | ​ | N/A
Accrued interest receivable | ​ |  | 15,391 | ​ | ​ | 0 | ​ | ​ | 3,729 | ​ | ​ | 11,662 | ​ | ​ | 15,391
Financial Liabilities: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Certificates of deposit | ​ |  | (1,192,067) | ​ | ​ | 0 | ​ | ​ | (1,202,060) | ​ | ​ | 0 | ​ | ​ | (1,202,060)
All other deposits | ​ |  | (2,941,752) | ​ | ​ | (2,941,752) | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | (2,941,752)
Federal Home Loan Bank advances | ​ | ​ | (170,000) | ​ | ​ | 0 | ​ | ​ | (169,998) | ​ | ​ | 0 | ​ | ​ | (169,998)
Standby letters of credit | ​ | ​ | (915) | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | (915) | ​ | ​ | (915)
Accrued interest payable | ​ | ​ | (11,604) | ​ | ​ | (102) | ​ | ​ | (11,502) | ​ | ​ | 0 | ​ | ​ | (11,604)

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- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a nonrecurring basis. + References No definition available. + Details
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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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