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FAIR VALUES OF FINANCIAL INSTRUMENTS: (Tables) | 12 Months Ended
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Dec. 31, 2018
Fair Value Disclosures [Abstract] |
Schedule of assets and liabilities measured at fair value | The fair value of derivatives is based on valuation models using observable market data as of the measurement date (Level 2 inputs).
|  | December 31, 2018 Fair Value Measurement Using
(Dollar amounts in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Carrying Value
U.S. Government entity mortgage-backed securities |  | $ | — |  |  | $ | 25,364 |  |  | $ | — |  |  | $ | 25,364 |
Mortgage-backed securities, residential |  | — |  |  | 178,743 |  |  | — |  |  | 178,743 |
Collateralized mortgage obligations |  | — |  |  | 343,616 |  |  | — |  |  | 343,616 |
State and municipal obligations |  | — |  |  | 230,800 |  |  | 3,135 |  |  | 233,935 |
Collateralized debt obligations |  | — |  |  | — |  |  | 3,258 |  |  | 3,258 |
TOTAL |  | $ | — |  |  | $ | 778,523 |  |  | $ | 6,393 |  |  | $ | 784,916 |
Derivative Assets |  |  |  |  | $ | 218 |  |  |  |  |  |  |
Derivative Liabilities |  |  |  |  | (218 | ) |  |  |  |  |  |
|  | December 31, 2017 Fair Value Measurement Using
(Dollar amounts in thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Carrying Value
U.S. Government entity mortgage-backed securities |  | $ | — |  |  | $ | 13,695 |  |  | $ | — |  |  | $ | 13,695 |
Mortgage-backed securities, residential |  | — |  |  | 215,338 |  |  | — |  |  | 215,338 |
Mortgage-backed securities, commercial |  | — |  |  | 1 |  |  | — |  |  | 1 |
Collateralized mortgage obligations |  | — |  |  | 339,670 |  |  | — |  |  | 339,670 |
State and municipal obligations |  | — |  |  | 227,942 |  |  | 3,680 |  |  | 231,622 |
Collateralized debt obligations |  | — |  |  | — |  |  | 14,605 |  |  | 14,605 |
TOTAL |  | $ | — |  |  | $ | 796,646 |  |  | $ | 18,285 |  |  | $ | 814,931 |
Derivative Assets |  |  |  |  | $ | 298 |  |  |  |  |  |  |
Derivative Liabilities |  |  |  |  | (298 | ) |  |  |  |  |  |
Roll forward of financial instruments having fair value measurements using significant unobservable inputs (Level 3) | The table below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the twelve months ended December 31, 2018 and 2017.
|  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) December 31, 2018
|  | State and municipal obligations |  | Collateralized debt obligations |  | Total
Beginning balance, January 1 |  | $ | 3,680 |  |  | $ | 14,605 |  |  | $ | 18,285 |
Total realized/unrealized gains or losses |  |  |  |  |  |  |  |  |
Included in earnings |  | — |  |  | — |  |  | — |
Included in other comprehensive income |  | — |  |  | (2,840 | ) |  | (2,840 | )
Purchases |  | — |  |  | — |  |  | — |
Settlements |  | (545 | ) |  | (8,507 | ) |  | (9,052 | )
Ending balance, December 31 |  | $ | 3,135 |  |  | $ | 3,258 |  |  | $ | 6,393 |
|  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) December 31, 2017
|  | State and municipal obligations |  | Collateralized debt obligations |  | Total
Beginning balance, January 1 |  | $ | 4,210 |  |  | $ | 12,368 |  |  | $ | 16,578 |
Total realized/unrealized gains or losses |  |  |  |  |  |  |  |  |
Included in earnings |  | — |  |  | — |  |  | — |
Included in other comprehensive income |  | — |  |  | 2,773 |  |  | 2,773 |
Transfers |  | — |  |  | — |  |  | — |
Settlements |  | (530 | ) |  | (536 | ) |  | (1,066 | )
Ending balance, December 31 |  | $ | 3,680 |  |  | $ | 14,605 |  |  | $ | 18,285 |
Quantitative information about recurring and non-recurring Level 3 | The following tables present quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31, 2018 and 2017.
2018 |  | Fair Value |  | Valuation Technique(s) |  | Unobservable Input(s) |  | Range
State and municipal obligations |  | $ | 3,135 |  |  | Discounted cash flow |  | Discount rate |  | 2.64%-4.80% |
|  |  |  |  |  |  | Probability of default |  | — | %
Other real estate |  | $ | 603 |  |  | Sales comparison/income approach |  | Discount rate for age of appraisal and market conditions |  | 5.00%-20.00% |
Impaired Loans |  | $ | 1,639 |  |  | Sales comparison/income approach |  | Discount rate for age of appraisal and market conditions |  | 0.00%-50.00% |
2017 |  | Fair Value |  | Valuation Technique(s) |  | Unobservable Input(s) |  | Range
State and municipal obligations |  | $ | 3,680 |  |  | Discounted cash flow |  | Discount rate |  | 2.30%-5.45% |
|  |  |  |  |  |  | Probability of default |  | — | %
Other real estate |  | $ | 1,880 |  |  | Sales comparison/income approach |  | Discount rate for age of appraisal and market conditions |  | 5.00%-20.00% |
Impaired Loans |  | $ | 3,882 |  |  | Sales comparison/income approach |  | Discount rate for age of appraisal and market conditions |  | 0.00%-50.00% |
Schedule of loans identified as impaired by class of loans | The following tables present impaired collateral dependent loans measured at fair value on a non-recurring basis by class of loans as of December 31, 2018 and 2017.
|  | December 31, 2018
(Dollar amounts in thousands) |  | Carrying Value |  | Allowance for Loan Losses Allocated |  | Fair Value
Commercial |  |  |  |  |  |  |  |  |
Commercial & Industrial |  | $ | 1,819 |  |  | $ | 593 |  |  | $ | 1,226 |
Farmland |  | 211 |  |  | 44 |  |  | 167 |
Non Farm, Non Residential |  | — |  |  | — |  |  | — |
Agriculture |  | 346 |  |  | 100 |  |  | 246 |
All Other Commercial |  | — |  |  | — |  |  | — |
Residential |  |  |  |  |  |  |  |  |
First Liens |  | — |  |  | — |  |  | — |
Home Equity |  | — |  |  | — |  |  | — |
Junior Liens |  | — |  |  | — |  |  | — |
Multifamily |  | — |  |  | — |  |  | — |
All Other Residential |  | — |  |  | — |  |  | — |
Consumer |  |  |  |  |  |  |  |  |
Motor Vehicle |  | — |  |  | — |  |  | — |
All Other Consumer |  | — |  |  | — |  |  | — |
TOTAL |  | $ | 2,376 |  |  | $ | 737 |  |  | $ | 1,639 |
|  | December 31, 2017
(Dollar amounts in thousands) |  | Carrying Value |  | Allowance for Loan Losses Allocated |  | Fair Value
Commercial |  |  |  |  |  |  |  |  |
Commercial & Industrial |  | $ | 493 |  |  | $ | 146 |  |  | $ | 347 |
Farmland |  | 3,035 |  |  | 268 |  |  | 2,767 |
Non Farm, Non Residential |  | — |  |  | — |  |  | — |
Agriculture |  | 537 |  |  | 205 |  |  | 332 |
All Other Commercial |  | — |  |  | — |  |  | — |
Residential |  |  |  |  |  |  |  |  |
First Liens |  | 442 |  |  | 6 |  |  | 436 |
Home Equity |  | — |  |  | — |  |  | — |
Junior Liens |  | — |  |  | — |  |  | — |
Multifamily |  | — |  |  | — |  |  | — |
All Other Residential |  | — |  |  | — |  |  | — |
Consumer |  |  |  |  |  |  |  |  |
Motor Vehicle |  | — |  |  | — |  |  | — |
All Other Consumer |  | — |  |  | — |  |  | — |
TOTAL |  | $ | 4,507 |  |  | $ | 625 |  |  | $ | 3,882 |
Schedule of carrying amount and estimated fair value of financial instruments | The carrying amount and estimated fair value of assets and liabilities are presented in the table below and were determined based on the above assumptions:
|  | December 31, 2018
|  | Carrying |  | Fair Value
(Dollar amounts in thousands) |  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash and due from banks |  | $ | 74,388 |  |  | $ | 23,418 |  |  | $ | 50,970 |  |  | $ | — |  |  | $ | 74,388 |
Securities available-for-sale |  | 784,916 |  |  | — |  |  | 778,523 |  |  | 6,393 |  |  | 784,916 |
Restricted stock |  | 10,390 |  |  | n/a |  |  | n/a |  |  | n/a |  |  | n/a |
Loans, net |  | 1,933,552 |  |  | — |  |  | — |  |  | 1,889,795 |  |  | 1,889,795 |
Accrued interest receivable |  | 13,970 |  |  | — |  |  | 3,005 |  |  | 10,965 |  |  | 13,970 |
Deposits |  | (2,436,727 | ) |  | — |  |  | (2,426,128 | ) |  | — |  |  | (2,426,128 | )
Short-term borrowings |  | (69,656 | ) |  | — |  |  | (69,656 | ) |  | — |  |  | (69,656 | )
Accrued interest payable |  | (609 | ) |  | — |  |  | (609 | ) |  | — |  |  | (609 | )
|  | December 31, 2017
|  | Carrying |  | Fair Value
(Dollar amounts in thousands) |  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash and due from banks |  | $ | 74,107 |  |  | $ | 20,682 |  |  | $ | 53,425 |  |  | $ | — |  |  | $ | 74,107 |
Securities available-for-sale |  | 814,931 |  |  | — |  |  | 796,646 |  |  | 18,285 |  |  | 814,931 |
Restricted stock |  | 10,379 |  |  | n/a |  |  | n/a |  |  | n/a |  |  | n/a |
Loans, net |  | 1,886,852 |  |  | — |  |  | — |  |  | 1,878,166 |  |  | 1,878,166 |
Accrued interest receivable |  | 12,913 |  |  | — |  |  | 3,596 |  |  | 9,317 |  |  | 12,913 |
Deposits |  | (2,458,653 | ) |  | — |  |  | (2,456,900 | ) |  | — |  |  | (2,456,900 | )
Short-term borrowings |  | (57,686 | ) |  | — |  |  | (57,686 | ) |  | — |  |  | (57,686 | )
Accrued interest payable |  | (372 | ) |  | — |  |  | (372 | ) |  | — |  |  | (372 | )

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- Definition Tabular disclosure of the fair value measurement of assets and liabilities 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 liabilities) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets and liabilities) are reported in the statement of income (or activities); (2) purchases, sales, issuances, 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 and liability. + References No definition available. + Details
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