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Fair Value Disclosures (Tables) | 3 Months Ended
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Mar. 31, 2020
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis are as follows (in thousands):
Description |  | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Other Unobservable Inputs (Level 3)
March 31, 2020: |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |
U.S. Government-sponsored enterprises (GSEs) |  | $ | 17,045 |  |  | $ | — |  |  | $ | 17,045 |  |  | $ | — |
Municipal securities |  | 83,317 |  |  | — |  |  | 83,317 |  |  | — |
Other debt securities |  | 5,462 |  |  | — |  |  | 5,462 |  |  | — |
Mortgage-backed securities (GSEs) |  | 95,178 |  |  | — |  |  | 95,178 |  |  | — |
Total securities available-for-sale |  | $ | 201,002 |  |  | $ | — |  |  | $ | 201,002 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |
Derivative financial instruments |  | $ | 6,885 |  |  | $ | — |  |  | $ | 6,885 |  |  | $ | — |
December 31, 2019: |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |
U.S. Government-sponsored enterprises (GSEs) |  | $ | 19,000 |  |  | $ | — |  |  | $ | 19,000 |  |  | $ | — |
Municipal securities |  | 64,391 |  |  | — |  |  | 64,391 |  |  | — |
Other debt securities |  | 3,470 |  |  | — |  |  | 3,470 |  |  | — |
Mortgage-backed securities (GSEs) |  | 91,487 |  |  | — |  |  | 91,487 |  |  | — |
Total securities available-for-sale |  | $ | 178,348 |  |  | $ | — |  |  | $ | 178,348 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |
Derivative financial instruments |  | $ | 3,446 |  |  | — |  |  | $ | 3,446 |  |  | — |
Fair Value, Assets and Liabilities Measured on Non-Recurring Basis | The following tables present the financial instruments carried on the consolidated balance sheets by caption and by level in the fair value hierarchy, for which a nonrecurring change in fair value has been recorded (in thousands):
|  | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Other Unobservable Inputs (Level 3)
March 31, 2020: |  |  |  |  |  |  |  |
Impaired loans |  | $ | 2,262 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,262 |
Other real estate owned |  | 5,894 |  |  | — |  |  | — |  |  | 5,894 |
December 31, 2019: |  |  |  |  |  |  |  |
Impaired loans |  | $ | 2,185 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,185 |
Other real estate owned |  | 1,757 |  |  | — |  |  | — |  |  | 1,757 |
Fair Value Measurement Inputs and Valuation Techniques | For Level 3 assets measured at fair value on a non-recurring basis, the significant unobservable inputs used in the fair value measurements are presented below (dollars in thousands):
|  | Fair Value |  | Valuation Technique |  | Significant Other Unobservable Input |  | Weighted Average of Input
March 31, 2020: |  |  |  |  |  |  |  |
Impaired loans |  | $ | 2,262 |  |  | Appraisal and cashflow |  | Appraisal and cashflow discounts |  | 20 | %
Other real estate owned |  | 5,894 |  |  | Appraisal |  | Appraisal discounts |  | 27 | %
December 31, 2019: |  |  |  |  |  |  |  |
Impaired loans |  | $ | 2,185 |  |  | Appraisal |  | Appraisal and cashflow discounts |  | 22 | %
Other real estate owned |  | 1,757 |  |  | Appraisal |  | Appraisal discounts |  | 29 | %
Fair Value, by Balance Sheet Grouping | The carrying amount and estimated fair value of the Company’s financial instruments are as follows (in thousands):
|  |  |  | Fair Value Measurements Using |  |  |  |  |  |
|  | Carrying Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Estimated Fair Value
March 31, 2020: |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 309,089 |  |  | $ | 309,089 |  |  | $ | — |  |  | $ | — |  |  | $ | 309,089 |
Securities available-for-sale |  | 201,002 |  |  | — |  |  | 201,002 |  |  | — |  |  | 201,002 |
Other investments |  | 14,113 |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |
Loans, net |  | 2,131,861 |  |  | — |  |  | — |  |  | 2,115,550 |  |  | 2,115,550 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Noninterest-bearing demand deposits |  | 431,781 |  |  | — |  |  | 431,781 |  |  | — |  |  | 431,781 |
Interest-bearing demand deposits |  | 444,141 |  |  | — |  |  | 444,141 |  |  | — |  |  | 444,141 |
Money market and savings deposits |  | 730,392 |  |  | — |  |  | 730,392 |  |  | — |  |  | 730,392 |
Time deposits |  | 735,616 |  |  | — |  |  | 739,277 |  |  | — |  |  | 739,277 |
Securities sold under agreements to repurchase |  | 6,164 |  |  | — |  |  | 6,164 |  |  | — |  |  | 6,164 |
Federal Home Loan Bank advances and other borrowings |  | 125,439 |  |  | — |  |  | 124,797 |  |  | — |  |  | 124,797 |
Subordinated debt |  | 39,283 |  |  | — |  |  | — |  |  | 34,379 |  |  | 34,379 |
Derivative financial instruments |  | 6,885 |  |  | — |  |  | 6,885 |  |  | — |  |  | 6,885 |
December 31, 2019: |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 183,971 |  |  | $ | 183,971 |  |  | $ | — |  |  | $ | — |  |  | $ | 183,971 |
Securities available-for-sale |  | 178,348 |  |  | — |  |  | 178,348 |  |  | — |  |  | 178,348 |
Other investments |  | 12,913 |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |
Loans, net |  | 1,893,005 |  |  | — |  |  | — |  |  | 1,879,825 |  |  | 1,879,825 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Noninterest-bearing demand deposits |  | 364,155 |  |  | — |  |  | 364,155 |  |  | — |  |  | 364,155 |
Interest-bearing demand deposits |  | 380,234 |  |  | — |  |  | 380,234 |  |  | — |  |  | 380,234 |
Money market and savings deposits |  | 623,284 |  |  | — |  |  | 623,284 |  |  | — |  |  | 623,284 |
Time deposits |  | 679,541 |  |  | — |  |  | 681,902 |  |  | — |  |  | 681,902 |
Securities sold under agreements to repurchase |  | 6,184 |  |  | — |  |  | 6,184 |  |  | — |  |  | 6,184 |
Federal Home Loan Bank advances and other borrowings |  | 25,439 |  |  | — |  |  | 24,845 |  |  | — |  |  | 24,845 |
Subordinated debt |  | 39,261 |  |  | — |  |  | — |  |  | 35,868 |  |  | 35,868 |
Derivative financial instruments |  | 3,446 |  |  | — |  |  | 3,446 |  |  | — |  |  | 3,446 |

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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. + 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=117815213&loc=d3e19207-110258 + Details
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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 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=118260190&loc=d3e13467-108611 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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- Definition 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 Reference 1: http://www.xbrl.org/2003/role/disclosureRef -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://www.xbrl.org/2003/role/disclosureRef -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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