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FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of carrying amount and estimated fair value of financial instruments

									Fair Value Measurement Using
	Carrying Amount				Estimated Fair Value				Quoted Prices in Active  Markets for  Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	(Dollars in thousands)
December 31, 2018
Financial assets:
Cash and due from financial institutions	$	80,569			$	80,569			$	80,569			$	—			$	—
Interest-bearing deposits in other financial institutions	21,617				21,617				21,617				—				—
Investment securities	1,354,812				1,350,576				826				1,338,581				11,169
Loans held for sale	6,647				6,647				—				6,647				—
Loans and leases, net of Allowance	4,030,450				3,938,380				—				—				3,938,380
FHLB stock	16,645				N/A				N/A				N/A				N/A
Accrued interest receivable	17,000				17,000				17,000				—				—
Financial liabilities:
Deposits:
Noninterest-bearing deposits	1,436,967				1,436,967				1,436,967				—				—
Interest-bearing demand and savings deposits	2,402,268				2,402,268				2,402,268				—				—
Time deposits	1,107,255				1,099,560				—				—				1,099,560
FHLB advances and other short-term borrowings	197,000				197,000				—				197,000				—
Long-term debt	122,166				118,057				—				118,057				—
Accrued interest payable (included in other liabilities)	5,051				5,051				5,051				—				—

													Fair Value Measurement Using
	Notional Amount				Carrying Amount				Estimated Fair Value				Quoted Prices in Active  Markets for  Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
					(Dollars in thousands)
December 31, 2018
Off-balance sheet financial instruments:
Commitments to extend credit	$	1,030,322			$	1,205			$	1,205			$	—			$	1,205			$	—
Standby letters of credit and financial guarantees written	13,377				201				201				—				201				—
Derivatives:
Interest rate lock commitments	2,158				11				11				—				11				—
Forward sale commitments	8,530				(95		)		(95		)		—				(95		)		—

									Fair Value Measurement Using
	Carrying Amount				Estimated Fair Value				Quoted Prices in Active  Markets for  Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	(Dollars in thousands)
December 31, 2019
Financial assets:
Cash and due from financial institutions	$	78,418			$	78,418			$	78,418			$	—			$	—
Interest-bearing deposits in other financial institutions	24,554				24,554				24,554				—				—
Investment securities	1,128,110				1,128,110				1,127				1,115,728				11,255
Loans held for sale	9,083				9,083				—				9,083				—
Loans and leases, net of Allowance	4,401,569				4,392,477				—				—				4,392,477
FHLB stock	14,983				N/A				N/A				N/A				N/A
Accrued interest receivable	16,500				16,500				16,500				—				—
Financial liabilities:
Deposits:
Noninterest-bearing deposits	1,450,532				1,450,532				1,450,532				—				—
Interest-bearing demand and savings deposits	2,643,038				2,643,038				2,643,038				—				—
Time deposits	1,026,453				1,023,362				—				—				1,023,362
FHLB advances and other short-term borrowings	150,000				150,000				—				150,000				—
Long-term debt	101,547				97,827				—				97,827				—
Accrued interest payable (included in other liabilities)	4,288				4,288				4,288				—				—

													Fair Value Measurement Using
	Notional Amount				Carrying Amount				Estimated Fair Value				Quoted Prices in Active  Markets for  Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
					(Dollars in thousands)
December 31, 2019
Off-balance sheet financial instruments:
Commitments to extend credit	$	1,089,135			$	1,230			$	1,230			$	—			$	1,230			$	—
Standby letters of credit and financial guarantees written	10,526				158				158				—				158				—
Derivatives:
Interest rate lock commitments	625				8				8				—				8				—
Forward sale commitments	8,968				(28		)		(28		)		—				(28		)		—

Schedule of balances of assets and liabilities measured at fair value on a recurring basis

The following table below presents the fair value of assets and liabilities measured on a recurring basis:

					Fair Value at Reporting Date Using
	Fair Value				Quoted Prices in Active  Markets for  Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	(Dollars in thousands)
December 31, 2019
Available-for-sale investment securities:
Debt securities:
States and political subdivisions	$	122,018			$	—			$	110,763			$	11,255
Corporate securities	30,529				—				30,529				—
U.S. Treasury obligations and direct obligations of U.S Government agencies	40,381				—				40,381				—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities ("GSEs")	677,822				—				677,822				—
Residential - Non-government sponsored entities ("Non-GSEs")	37,191				—				37,191				—
Commercial - U.S. GSEs and agencies	81,225				—				81,225				—
Commercial - Non-GSEs	137,817				—				137,817				—
Equity securities	1,127				1,127				—				—
Derivatives: Interest rate lock and forward sale commitments	(20		)		—				(20		)		—
Total	$	1,128,090			$	1,127			$	1,115,708			$	11,255

					Fair Value at Reporting Date Using
	Fair Value				Quoted Prices in Active  Markets for  Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	(Dollars in thousands)
December 31, 2018
Available-for-sale investment securities:
Debt securities:
States and political subdivisions	$	173,674			$	—			$	162,505			$	11,169
Corporate securities	54,849				—				54,849				—
U.S. Treasury obligations and direct obligations of U.S Government agencies	32,574				—				32,574				—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities ("GSEs")	717,052				—				717,052				—
Residential - Non-government sponsored entities ("Non-GSEs")	41,118				—				41,118				—
Commercial - U.S. GSEs and agencies	51,483				—				51,483				—
Commercial - Non-GSEs	134,728				—				134,728				—
Equity securities	826				826				—				—
Derivatives: Interest rate lock and forward sale commitments	(84		)		—				(84		)		—
Total	$	1,206,220			$	826			$	1,194,225			$	11,169

Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis

The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows:

	Available-for-Sale  Debt Securities -  States and Political  Subdivisions
	(Dollars in thousands)
Balance as of December 31, 2017	$	11,794
Principal payments received	(373		)
Purchases	—
Unrealized net loss included in other comprehensive loss	(252		)
Balance as of December 31, 2018	$	11,169
Principal payments received	(400		)
Purchases	—
Unrealized net gain included in other comprehensive loss	486
Balance as of December 31, 2019	$	11,255

Schedule of level of valuation assumptions used to determine the fair value of assets measured on a nonrecurring basis

:

					Fair Value Measurements Using
	Fair Value				Quoted Prices in Active  Markets for  Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Losses
	(Dollars in thousands)
December 31, 2019
Other real estate (1)	$	164			$	—			$	164			$	—			$	—
Total																	$	—
December 31, 2018
Other real estate (1)	$	414			$	—			$	414			$	—			$	—
Total																	$	—

⁽¹⁾  Represents other real estate that is carried at fair value less costs to sell. Fair value is generally based upon independent market prices or appraised values of the collateral.

X

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined) whether recognized or not in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition and the measurements of those instruments, assets and liabilities. Such disclosures about the financial instruments, assets and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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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

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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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

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-Publisher FASB
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