Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Assets Measured At Fair Value On A Recurring And Non-Recurring Basis


		Quoted Prices
		in Active
		Markets for		Significant
		Identical		Other		Significant
		Assets or		Observable		Unobservable
		Liabilities		Inputs		Inputs
		(Level 1)		(Level 2)		(Level 3)		Total
March 31, 2017
Measured on a recurring basis:
Securities available for sale:
U.S. Government agency and government sponsored enterprises	$	-	$	190,215	$	-	$	190,215
Mortgage-backed securities		-		349,958		-		349,958
Asset-backed securities		-		233		-		233
	$	-	$	540,406	$	-	$	540,406
Measured on a nonrecurring basis:
Loans:
Loans held for sale	$	-	$	2,097	$	-	$	2,097
Collateral dependent impaired loans		-		-		1,769		1,769
Other assets:
Loan servicing rights		-		-		1,046		1,046
Other real estate owned		-		-		58		58
	$	-	$	2,097	$	2,873	$	4,970

December 31, 2016
Measured on a recurring basis:
Securities available for sale:
U.S. Government agency and government sponsored enterprises	$	-	$	186,268	$	-	$	186,268
Mortgage-backed securities		-		353,467		-		353,467
Asset-backed securities		-		191		-		191
	$	-	$	539,926	$	-	$	539,926
Measured on a nonrecurring basis:
Loans:
Loans held for sale	$	-	$	1,050	$	-	$	1,050
Collateral dependent impaired loans		-		-		901		901
Other assets:
Loan servicing rights		-		-		1,075		1,075
Other real estate owned		-		-		107		107
	$	-	$	1,050	$	2,083	$	3,133

Additional Quantitative Information About Assets Measured At Fair Value On A Recurring And Non-Recurring Basis


		Fair			Unobservable Input
Asset		Value	Valuation Technique	Unobservable Input	Value or Range
Collateral dependent impaired loans	$	1,769	Appraisal of collateral ⁽¹⁾	Appraisal adjustments ⁽²⁾	0% - 75% discount

Loan servicing rights		1,046	Discounted cash flow	Discount rate	5.4% ⁽³⁾
				Constant prepayment rate	6.9% ⁽³⁾

Other real estate owned		58	Appraisal of collateral ⁽¹⁾	Appraisal adjustments ⁽²⁾	14% - 72% discount

⁽¹⁾Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable.

⁽²⁾Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.

⁽³⁾Weighted averages.

Carrying Amount, Estimated Fair Value, And Placement In Fair Value Hierarchy Of Financial Instruments


	Level in		March 31, 2017				December 31, 2016
	Fair Value				Estimated				Estimated
	Measurement		Carrying		Fair		Carrying		Fair
	Hierarchy		Amount		Value		Amount		Value
Financial assets:
Cash and cash equivalents	Level 1	$	149,699	$	149,699	$	71,277	$	71,277
Securities available for sale	Level 2		540,406		540,406		539,926		539,926
Securities held to maturity	Level 2		545,381		544,438		543,338		539,991
Loans held for sale	Level 2		2,097		2,097		1,050		1,050
Loans	Level 2		2,369,777		2,343,479		2,308,326		2,285,146
Loans ⁽¹⁾	Level 3		1,769		1,769		901		901
Accrued interest receivable	Level 1		10,329		10,329		9,192		9,192
FHLB and FRB stock	Level 2		20,511		20,511		21,780		21,780
Financial liabilities:
Non-maturity deposits	Level 1		2,435,195		2,435,195		2,292,706		2,292,706
Time deposits	Level 2		734,464		732,294		702,516		701,097
Short-term borrowings	Level 1		303,300		303,300		331,500		331,500
Long-term borrowings	Level 2		39,078		41,518		39,061		40,701
Accrued interest payable	Level 1		6,340		6,340		5,394		5,394

⁽¹⁾Comprised of collateral dependent impaired loans.