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FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Summary of Assets Measured at Fair Value on Recurring Basis

The following table summarizes assets measured at fair value on a recurring basis at March 31, 2019 and December 31, 2018.

(Dollars in Thousands)			Level 1						Level 2						Level 3						Total Fair Value Measurements
March 31, 2019
AFS Securities:
States and political subdivisions			$	0					$	153,903					$	0					$	153,903
GSE residential CMOs			0						73,001						0						73,001
Private label residential CMOs			0						17						0						17
Private label commercial CMOs			0						69,858						7,261						77,119
Asset-backed and other			0						186,181						0						186,181
Totals			$	0					$	482,960					$	7,261					$	490,221
December 31, 2018
AFS Securities:
States and political subdivisions			$	0					$	145,004					$	0					$	145,004
GSE residential CMOs			0						108,064						0						108,064
Private label residential CMOs			0						143						0						143
Private label commercial CMOs			0						67,836						7,209						75,045
Asset-backed and other			0						137,588						0						137,588
Totals			$	0					$	458,635					$	7,209					$	465,844

Schedule of Changes in Fair Value of Impaired Loans

The following table presents changes in the fair value for impaired loans still held at March 31, considered in the determination of the provision for loan losses, for the three months ended March 31, 2019 and 2018.

															Three months ended March 31,
(Dollars in thousands)															2019						2018
Changes in fair value of impaired loans still held															$	4					$	8

Schedule of Changes in Fair Value of OREO For Properties Held

There were no changes in the fair value of OREO for properties, still held at March 31, that were charged to real estate expenses for the three months ended March 31, 2019 and 2018.

Summary of Assets Measured at Fair Value on Nonrecurring Basis

The following table summarizes assets measured at fair value on a nonrecurring basis at March 31, 2019 and December 31, 2018.

(Dollars in thousands)			Level 1						Level 2						Level 3						Total Fair Value Measurements
March 31, 2019
Impaired Loans
Commercial real estate:
Owner occupied			$	0					$	0					$	1,049					$	1,049
Multi-family			0						0						122						122
Non-owner occupied residential			0						0						264						264
Commercial and industrial			0						0						15						15
Residential mortgage:
First lien			0						0						824						824
Home equity - lines of credit			0						0						344						344
Installment and other loans			0						0						10						10
Total impaired loans			$	0					$	0					$	2,628					$	2,628
December 31, 2018
Impaired Loans
Commercial real estate:
Owner occupied			$	0					$	0					$	1,087					$	1,087
Multi-family			0						0						131						131
Non-owner occupied residential			0						0						278						278
Commercial and industrial			0						0						25						25
Residential mortgage:
First lien			0						0						1,121						1,121
Home equity - lines of credit			0						0						409						409
Total impaired loans			$	0					$	0					$	3,051					$	3,051

Summary of Additional Qualitative Information

The following table presents additional qualitative information about assets measured on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value.

(Dollars in thousands)

Fair Value Estimate

Valuation Techniques

Unobservable Input

Range

March 31, 2019

Impaired loans

$

2,628

Appraisal of collateral

Management adjustments on appraisals for property type and recent activity

5% - 75% discount

- Management adjustments for liquidation expenses

6% - 20% discount

December 31, 2018

Impaired loans

$

3,051

Appraisal of collateral

Management adjustments on appraisals for property type and recent activity

5% - 75% discount

- Management adjustments for liquidation expenses

6% - 20% discount

Financial Instruments at Estimated Fair Values

The following table presents carrying amounts and estimated fair values of the Company’s financial instruments at March 31, 2019 and December 31, 2018:

(Dollars in thousands)			Carrying Amount						Fair Value						Level 1						Level 2						Level 3
March 31, 2019
Financial Assets
Cash and due from banks			$	22,387					$	22,387					$	22,387					$	0					$	0
Interest-bearing deposits with banks			54,830						54,830						54,830						0						0
Restricted investments in bank stocks			10,292						n/a						n/a						n/a						n/a
AFS securities			490,221						490,221						0						482,960						7,261
Loans held for sale			4,787						4,906						0						4,906						0
Loans, net of allowance for loan losses			1,251,256						1,258,698						0						0						1,258,698
Accrued interest receivable			6,340						6,340						0						2,812						3,528
Financial Liabilities
Deposits			1,620,696						1,618,521						0						1,618,521						0
Short-term borrowings			9,579						9,579						0						9,579						0
Long-term debt			103,356						103,401						0						103,401						0
Subordinated notes			31,810						33,339						0						33,339						0
Accrued interest payable			1,454						1,454						0						1,454						0
Off-balance sheet instruments			0						0						0						0						0
December 31, 2018
Financial Assets
Cash and due from banks			$	26,156					$	26,156					$	26,156					$	0					$	0
Interest-bearing deposits with banks			45,664						45,664						45,664						0						0
Federal Funds Sold			16,995						16,995						16,995						0						0
Restricted investments in bank stocks			10,842						n/a						n/a						n/a						n/a
AFS securities			465,844						465,844						0						458,635						7,209
Loans held for sale			3,340						3,413						0						3,413						0
Loans, net of allowance for loan losses			1,233,643						1,229,645						0						0						1,229,645
Accrued interest receivable			5,927						5,927						0						2,853						3,074
Financial Liabilities
Deposits			1,558,756						1,555,912						0						1,555,912						0
Short-term borrowings			64,069						64,069						0						64,069						0
Long-term debt			83,450						82,951						0						82,951						0
Subordinated notes			31,859						31,256						0						31,256						0
Accrued interest payable			1,301						1,301						0						1,301						0
Off-balance sheet instruments			0						0						0						0						0

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- 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.

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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).

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