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FAIR VALUE (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 2019 and December 31, 2018.
(Dollars in Thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value Measurements
June 30, 2019 |  |  |  |  |  |  |
AFS Securities: |  |  |  |  |  |  |
States and political subdivisions | $ | 0 |  | $ | 102,110 |  | $ | 0 |  | $ | 102,110
GSE residential CMOs | 0 |  | 72,421 |  | 0 |  | 72,421
Private label commercial CMOs | 0 |  | 87,098 |  | 7,330 |  | 94,428
Asset-backed and other | 0 |  | 227,971 |  | 0 |  | 227,971
Totals | $ | 0 |  | $ | 489,600 |  | $ | 7,330 |  | $ | 496,930
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 June 30, considered in the determination of the provision for loan losses, for the three and six months ended June 30, 2019 and 2018.
| Three months ended June 30, |  |  |  | Six months ended June 30, |  |
(Dollars in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Changes in fair value of impaired loans still held | $ | 24 |  | $ | 79 |  | $ | 28 |  | $ | 84
Summary of Assets Measured at Fair Value on Nonrecurring Basis | The following table summarizes assets measured at fair value on a nonrecurring basis at June 30, 2019 and December 31, 2018.
(Dollars in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value Measurements
June 30, 2019 |  |  |  |  |  |  |
Impaired Loans |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |
Owner occupied | $ | 0 |  | $ | 0 |  | $ | 1,004 |  | $ | 1,004
Multi-family | 0 |  | 0 |  | 114 |  | 114
Non-owner occupied residential | 0 |  | 0 |  | 243 |  | 243
Commercial and industrial | 0 |  | 0 |  | 11 |  | 11
Residential mortgage: |  |  |  |  |  |  |
First lien | 0 |  | 0 |  | 787 |  | 787
Home equity - lines of credit | 0 |  | 0 |  | 335 |  | 335
Installment and other loans | 0 |  | 0 |  | 8 |  | 8
Total impaired loans | $ | 0 |  | $ | 0 |  | $ | 2,502 |  | $ | 2,502
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
June 30, 2019 |  |  |  |  |  |  |
Impaired loans | $ | 2,502 |  | Appraisal of collateral |  | Management adjustments on appraisals for property type and recent activity |  | 5% - 25% discount
|  |  |  |  | - Management adjustments for liquidation expenses |  | 6% - 33% 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 June 30, 2019 and December 31, 2018:
(Dollars in thousands) | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
June 30, 2019 |  |  |  |  |  |  |  |  |
Financial Assets |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 35,468 |  | $ | 35,468 |  | $ | 35,468 |  | $ | 0 |  | $ | 0
Interest-bearing deposits with banks | 72,670 |  | 72,670 |  | 72,670 |  | 0 |  | 0
Federal Funds Sold | 8,741 |  | 8,741 |  | 8,741 |  | 0 |  | 0
Restricted investments in bank stocks | 10,105 |  | n/a |  | n/a |  | n/a |  | n/a
AFS securities | 496,930 |  | 496,930 |  | 0 |  | 489,600 |  | 7,330
Loans held for sale | 7,152 |  | 7,344 |  | 0 |  | 7,344 |  | 0
Loans, net of allowance for loan losses | 1,587,210 |  | 1,617,064 |  | 0 |  | 0 |  | 1,617,064
Accrued interest receivable | 6,558 |  | 6,558 |  | 0 |  | 1,943 |  | 4,615
Financial Liabilities |  |  |  |  |  |  |  |  |
Deposits | 2,015,541 |  | 2,013,623 |  | 0 |  | 2,013,623 |  | 0
Short-term borrowings | 9,373 |  | 9,373 |  | 0 |  | 9,373 |  | 0
Long-term debt | 83,261 |  | 83,550 |  | 0 |  | 83,550 |  | 0
Subordinated notes | 31,821 |  | 33,276 |  | 0 |  | 33,276 |  | 0
Accrued interest payable | 1,979 |  | 1,979 |  | 0 |  | 1,979 |  | 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 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 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: 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=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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 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 (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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