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Fair Value Measurements and Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

For financial assets and liabilities measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at September 30, 2018 and December 31, 2017 are as follows:

					September 30, 2018
					Fair Value Measurements at Reporting Date Using
					Quoted Prices
					in Active			Significant
					Markets for			Other			Significant
					Identical			Observable			Unobservable
					Assets			Inputs			Inputs
					(Level 1)			(Level 2)			(Level 3)
					(dollars in thousands)
Recurring fair value measurements:
Assets
Investment securities:
Available-for-sale:
Federal agency obligations		$	47,534		$	-		$	47,534		$	-
Residential mortgage pass-through securities			190,551			-			190,551			-
Commercial mortgage pass-through securities			3,843			-			3,843			-
Obligations of U.S. states and political subdivision			130,388			-			120,947			9,441
Corporate bonds and notes			25,962			-			25,962			-
Asset-backed securities			10,363			-			10,363			-
Certificates of deposit			423			-			423			-
Other securities			975			975			-			-
Total available-for-sale		$	410,039		$	975		$	399,623		$	9,441
Equity securities			11,403			11,403			-			-
Derivatives			1,906			-			1,906			-
Total assets		$	423,348		$	12,378		$	401,529		$	9,441

					December 31, 2017
					Fair Value Measurements at Reporting Date Using
					Quoted Prices
					in Active			Significant
					Markets for			Other			Significant
					Identical			Observable			Unobservable
					Assets			Inputs			Inputs
					(Level 1)			(Level 2)			(Level 3)
					(dollars in thousands)
Recurring fair value measurements:
Assets
Investment securities:
Available-for-sale:
Federal agency obligations		$	56,022		$	-		$	56,022		$	-
Residential mortgage pass-through securities			181,891			-			181,891			-
Commercial mortgage pass-through securities			4,054			-			4,054			-
Obligations of U.S. states and political subdivision			131,128			-			121,496			9,632
Trust preferred securities			4,671			-			4,671			-
Corporate bonds and notes			29,693			-			29,693			-
Asset-backed securities			12,050			-			12,050			-
Certificates of deposit			625			-			625			-
Equity securities			11,728			11,728			-			-
Other securities			3,422			3,422			-			-
Total available-for-sale		$	435,284		$	15,150		$	410,502		$	9,632
Derivatives			798			-			798			-
Total assets		$	436,082		$	15,150		$	411,300		$	9,632

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

For assets measured at fair value on a nonrecurring basis, the fair value measurements at September 30, 2018 and December 31, 2017 are as follows:

Fair Value Measurements at Reporting Date Using

Quoted

Prices

in Active

Significant

Markets for

Other

Significant

Identical

Observable

Unobservable

September 30,

Assets

Inputs

Inputs

Assets measured at fair value on a nonrecurring basis:

2018

(Level 1)

(Level 2)

(Level 3)

Impaired loans:

(dollars in thousands)

Commercial real estate

$

7,820

$

-

$

-

$

7,820

Residential real estate

231

231

Fair Value Measurements at Reporting Date Using

Quoted

Prices

in Active

Significant

Markets for

Other

Significant

Identical

Observable

Unobservable

December 31,

Assets

Inputs

Inputs

Assets measured at fair value on a nonrecurring basis:

2017

(Level 1)

(Level 2)

(Level 3)

Impaired loans:

(dollars in thousands)

Commercial real estate

$

1,094

$

-

$

-

$

1,094

Fair Value, Recurring basis [Table Text Block]

The tables below present a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2018 and for the year ended December 31, 2017:

		Municipal
		Securities
		(dollars in thousands)
Beginning balance, January 1, 2018		$	9,632
Principal paydowns			(191	)
Ending balance, September 30, 2018		$	9,441
		Municipal
		Securities
		(dollars in thousands)
Beginning balance, January 1, 2017		$	18,218
Principal paydowns			(8,586	)
Ending balance, December 31, 2017		$	9,632

Significant unobservable inputs used in fair value measurements [Table Text Block]

The following methods and assumptions were used to estimate the fair values of the Company’s assets measured at fair value on a recurring basis at September 30, 2018 and December 31, 2017. The table below provides quantitative information about significant unobservable inputs used in fair value measurements within Level 3 hierarchy.

September 30, 2018
					Valuation		Unobservable
		Fair Value			Techniques		Input		Range
Securities available-for-sale:					(dollars in thousands)
Municipal securities		$	9,441		Discounted cash flows		Discount rate		2.9	%
December 31, 2017
					Valuation		Unobservable
		Fair Value			Techniques		Input		Range
Securities available-for-sale:					(dollars in thousands)
Municipal securities		$	9,632		Discounted cash flows		Discount rate		2.9	%

Fair Value Measurements, Nonrecurring [Table Text Block]

The following methods and assumptions were used to estimate the fair values of the Company’s assets measured at fair value on a nonrecurring basis for the periods presented. The tables below provide quantitative information about significant unobservable inputs used in fair value measurements within Level 3 hierarchy.

September 30, 2018
					Valuation		Unobservable
		Fair Value			Techniques		Input		Range
Impaired loans:					(dollars in thousands)
Commercial real estate		$	7,820		Sales comparison approach		Adjustment for differences between the comparable sales		0% - 20% [10%]
Residential real estate		$	231		Sales comparison approach		Adjustment for differences between the comparable sales		0% - 7% [2%]
December 31, 2017
					Valuation		Unobservable
		Fair Value			Techniques		Input		Range
Impaired loans:					(dollars in thousands)
Commercial real estate		$	1,094		Sales comparison approach		Adjustment for differences between the comparable sales		0% - 10% [5%]

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of September 30, 2018 and December 31, 2017:

								Fair Value Measurements
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
		Amount			Value			(Level 1)			(Level 2)			(Level 3)
		(dollars in thousands)
September 30, 2018
Financial assets:
Cash and cash equivalents		$	155,848		$	155,848		$	155,848		$	-		$	-
Securities available-for-sale			410,039			410,039			975			399,623			9,441
Equity Securities			11,403			11,403			11,403			-			-
Loans held-for-sale			270			270			-			-			270
Net loans			4,427,738			4,304,357			-			-			4,304,357
Derivatives			1,906			1,906			-			1,906			-
Financial liabilities:
Noninterest-bearing deposits			758,213			758,213			758,213			-			-
Interest-bearing deposits			3,230,552			3,222,141			1,907,805			1,314,336			-
Borrowings			629,979			626,841			-			626,841			-
Subordinated debentures			128,474			129,165			-			129,165			-
December 31, 2017
Financial assets:
Cash and cash equivalents		$	149,582		$	149,582		$	149,582		$	-		$	-
Securities available-for-sale			435,284			435,284			15,150			410,502			9,632
Loans held-for-sale			24,845			24,845			-			370			24,475
Net loans			4,139,708			4,118,542			-			-			4,118,542
Derivatives			798			798			-			798			-
Financial liabilities:
Noninterest-bearing deposits			776,843			776,843			776,843			-			-
Interest-bearing deposits			3,018,285			3,018,285			1,842,151			1,176,134			-
Borrowings			670,077			669,680			-			669,680			-
Subordinated debentures			54,699			57,340			-			57,340			-

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