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Disclosures about Fair Value of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements of Assets and Liabilities Recognized on a Recurring Basis

The following table presents the fair value measurements of assets and liabilities recognized in the accompanying condensed consolidated financial statements measured at fair value on a recurring basis and the level within the FASB ASC fair value hierarchy in which the fair value measurements fall at the following:

		June 30, 2018
		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Available for sale securities
U.S. Treasury and federal agencies		$	24,219			$	—			$	24,219			$	—
State and municipal			134,981				—				134,981				—
Federal agency collateralized mortgage obligations			164,134				—				164,134				—
Federal agency mortgage-backed pools			196,995				—				196,995				—
Private labeled mortgage-backed pools			—				—				—				—
Corporate notes			5,866				—				5,866				—
Total available for sale securities			526,195				—				526,195				—
Hedged loans			155,742				—				155,742				—
Forward sale commitments			344				—				344				—
Interest rate swap agreements			3,939				—				3,939				—
Commitments to originate loans			(21	)			—				(21	)			—

		December 31, 2017
		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Available for sale securities
U.S. Treasury and federal agencies		$	19,052			$	—			$	19,052			$	—
State and municipal			149,564				—				149,564				—
Federal agency collateralized mortgage obligations			130,365				—				130,365				—
Federal agency mortgage-backed pools			208,657				—				208,657				—
Private labeled mortgage-backed pools			1,642				—				1,642				—
Corporate notes			385				—				385				—
Total available for sale securities			509,665				—				509,665				—
Hedged loans			154,575				—				154,575				—
Forward sale commitments			143				—				143				—
Interest rate swap agreements			(917	)			—				(917	)			—
Commitments to originate loans			(3	)			—				(3	)			—

Realized Gains and Losses Included in Net Income for Periods in Condensed Consolidated Statements of Income

Realized gains and losses included in net income for the periods are reported in the condensed consolidated statements of income as follows:

Non-interest Income		Three Months Ended								Six Months Ended
		June 30, 2018				June 30, 2017				June 30, 2018				June 30, 2017
Total gains and losses from:
Hedged loans		$	976			$	679			$	3,744			$	426
Fair value interest rate swap agreements			(976	)			(679	)			(3,744	)			(426	)
Derivative loan commitments			71				(153	)			183				(212	)
		$	71			$	(153	)		$	183			$	(212	)

Other Assets Measured at Fair Value on Non-recurring Basis

Certain other assets are measured at fair value on a non-recurring basis in the ordinary course of business and are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment):

		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
June 30, 2018
Impaired loans		$	8,804			$	—			$	—			$	8,804
Mortgage servicing rights			11,670				—				—				11,670
December 31, 2017
Impaired loans		$	6,957			$	—			$	—			$	6,957
Mortgage servicing rights			11,602				—				—				11,602

Qualitative Information About Unobservable Inputs Used in Recurring and Non-recurring Level 3 Fair Value Measurements, Other than Goodwill

The following table presents qualitative information about unobservable inputs used in recurring and non-recurring Level 3 fair value measurements, other than goodwill.

		June 30, 2018
		Fair				Valuation		Unobservable		Range
		Value				Technique		Inputs		(Weighted Average)
Impaired loans		$	8,804			Collateral based measurement		Discount to reflect current market conditions and ultimate collectability		0%-54.8% (2.0%)
Mortgage servicing rights			11,670			Discounted cash flows		Discount rate, Constant prepayment rate, Probability of default		10.3%-11.3% (10.3%), 8.3%-16.5% (8.6%), 0.1%-1.7% (0.6%)
		December 31, 2017
		Fair				Valuation		Unobservable		Range
		Value				Technique		Inputs		(Weighted Average)
Impaired loans		$	6,957			Collateral based measurement		Discount to reflect current market conditions and ultimate collectability		0%-46.8% (2.6%)
Mortgage servicing rights			11,602			Discounted cash flows		Discount rate, Constant prepayment rate, Probability of default		9.6%-10.8% (9.7%), 9.2%-27.7% (10.5%), 0%-1.5% (0.2%)

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ 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 (bbb)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

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Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity.

+ 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 (c)(1)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

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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
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-Subparagraph (a)
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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=109250915&loc=d3e13467-108611

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