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FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis Segregated by the Level of the Valuation Inputs Within the Fair Value Hierarchy Utilized to Measure Fair Value

The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2018 and December 31, 2017, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value.

		December 31, 2018
(in thousands)		Level 1 Inputs				Level 2 Inputs				Level 3 Inputs				Total Fair Value
Available for sale securities:
Mortgage-backed securities:
US Government-sponsored enterprises		$	—			$	404,952			$	—			$	404,952
US Government agency		—				110,512				—				110,512
Private label		—				20,382				—				20,382
Obligations of states and political subdivisions thereof		—				132,265				—				132,265
Corporate bonds		—				57,726				—				57,726
Derivative assets		—				2,156				8				2,164
Derivative liabilities		—				(1,353		)		—				(1,353		)

		December 31, 2017
(in thousands)		Level 1 Inputs				Level 2 Inputs				Level 3 Inputs				Total Fair Value
Available for sale securities:
Obligations of US Government sponsored enterprises		$	—			$	6,972			$	—			$	6,972
Mortgage-backed securities:
US Government-sponsored enterprises		—				443,003				—				443,003
US Government agency		—				95,596				—				95,596
Private label		—				674				—				674
Obligations of states and political subdivisions thereof		—				140,200				—				140,200
Corporate bonds		—				30,797				—				30,797
Derivative assets		—				669				—				669
Derivative liabilities		—								(222		)		(222		)

Schedule of Changes in Level 3 Assets and Liabilities That Were Measured at Fair Value on a Recurring Basis

The table below presents the changes in Level 3 assets and liabilities that were measured at fair value on a recurring basis in 2018 and 2017.

		Assets (Liabilities)
(in thousands)		Interest Rate Lock Commitments				Forward Commitments
December 31, 2016		$	—			$	—
Business combination, January 13, 2017		96				23
Goodwill adjustment for business combination		(75		)		(167		)
Realized loss recognized in non-interest income		(22		)		(77		)
December 31, 2017		$	(1	)		$	(221	)
Realized gain recognized in non-interest income		9				221
December 31, 2018		$	8			$	—

Schedule of Quantitative Information About the Significant Unobservable Inputs Within Level 3

Quantitative information about the significant unobservable inputs within Level 3 recurring assets and liabilities is as follows:

(in thousands, except ratios)

Fair Value December 31, 2018

Valuation  Techniques

Unobservable  Inputs

Significant Unobservable Input Value

Assets (Liabilities)

Interest Rate Lock Commitment

$

8

Historical trend

Closing Ratio

90

%

Pricing Model

Origination Costs, per loan

$

1.7

Forward Commitments

—

Quoted prices for similar loans in active markets.

Freddie Mac pricing system

Pair-off contract price

Total

$

8

Quantitative information about the significant unobservable inputs within Level 3 non-recurring assets as of December 31, 2018 and December 31, 2017 is as follows:

Fair Value

Range  (Weighted Average) (a)

(in thousands, except ratios)

December 31, 2018

Valuation Techniques

Unobservable Inputs

Assets

Impaired loans

$

11,676

Fair value of collateral - appraised value

Loss severity

0% to 55.00%

Appraised value

$0 to $6,915

Impaired loans

3,537

Discounted cash flow

Discount rate

2.88% to 9.50%

Cash flows

$22 to $1,072

Capitalized servicing rights

4,882

Discounted cash flow

Constant prepayment rate (CPR)

8.19

%

Discount rate

10.08

%

Other real estate owned

2,351

Fair value of collateral less selling costs

Appraised value

$2,700

Selling costs

12.93

%

Total

$

22,446

______________________________________

(a) Where dollar amounts are disclosed, the amounts represent the lowest and highest fair value of the respective assets in the population except for adjustments for market/property conditions, which represents the range of adjustments to individuals properties.

Fair Value

Range  (Weighted Average) (a)

(in thousands, except ratios)

December 31, 2017

Valuation Techniques

Unobservable Inputs

Assets

Impaired loans

$

8,586

Fair value of collateral - appraised value

Loss severity

15.70% to 45.28%

Appraised value

$100 to $7,545

Impaired loans

2,207

Discount cash flow

Discount rate

2.63% to 9.50%

Cash flows

$6 to $320

Capitalized servicing rights

4,158

Discounted cash flow

Constant prepayment rate (CPR)

10.97

%

Discount rate

10.10

%

Other real estate owned

122

Fair value of collateral less selling costs

Appraised value

$136

Selling costs

10.00

%

Total

$

15,073

______________________________________

(a) Where dollar amounts are disclosed, the amounts represent the lowest and highest fair value of the respective assets in the population except for adjustments for market/property conditions, which represents the range of adjustments to individuals properties.

Summary of Applicable Non-Recurring Fair Value Measurements

The following is a summary of applicable non-recurring fair value measurements as of December 31, 2018 and December 31, 2017. There are no liabilities measured at fair value on a non-recurring basis.

		December 31, 2018				December 31, 2017				December 31, 2018				Fair Value Measurement Date as of December 31, 2018
(in thousands)		Level 3 Inputs				Level 3 Inputs				Total Gains (Losses)				Level 3 Inputs
Assets
Impaired loans		$	15,213			$	10,793			$	(4,420	)		December 2018
Capitalized servicing rights		4,882				4,158				—				December 2018
Other real estate owned		2,351				122				(20		)		April 2018
Total		$	22,446			$	15,073			$	(4,440	)

Summary of Estimated Fair Values, and Related Carrying Amounts, of Financial Instruments

Summary of Estimated Fair Values of Financial Instruments

The following table represents estimated fair values, and related carrying amounts of the Company’s financial instruments as of December 31, 2018 and December 31, 2017. Certain financial instruments and all non-financial instruments are excluded from disclosure requirements. Accordingly, the aggregate fair value amounts presented herein may not necessarily represent the underlying fair value of the Company.

		December 31, 2018
(in thousands)		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
Financial Assets
Cash and cash equivalents		$	98,754			$	98,754			$	98,754			$	—			$	—
Securities available for sale		725,837				725,837				—				725,837				—
FHLB bank stock		35,659				35,659				—				35,659				—
Net loans		2,476,361				2,415,863				—				—				2,415,863
Accrued interest receivable		3,533				3,533				—				3,533				—
Cash surrender value of bank-owned life insurance policies		73,810				73,810				—				73,810				—
Derivative assets		2,164				2,164				—				2,156				8
Financial Liabilities
Total deposits		$	2,483,238			$	2,404,250			$	—			$	2,404,250			$	—
Other short-term borrowings		36,211				36,171				—				36,171				—
Federal Home Loan Bank advances		644,611				643,065				—				643,065				—
Subordinated borrowings		37,973				37,973				—				37,973				—
Junior subordinated borrowings		5,000				3,923				—				3,923				—
Derivative liabilities		(1,353		)		(1,353		)		—				—				(1,353		)

		December 31, 2017
(in thousands)		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
Financial Assets
Cash and cash equivalents		$	90,685			$	90,685			$	90,685			$	—			$	—
Securities available for sale		717,242				717,242				—				717,242				—
FHLB bank stock		38,105				38,105				—				38,105				—
Net loans		2,473,288				2,433,557				—				—				2,433,557
Accrued interest receivable		3,347				3,347				—				3,347				—
Cash surrender value of bank-owned life insurance policies		57,997				57,997				—				57,997				—
Derivative assets		669				669				—				669				—
Financial Liabilities
Total deposits		$	2,352,085			$	2,348,574			$	—			$	2,348,574			$	—
Other short-term borrowings		40,706				40,680				—				40,680				—
Federal Home Loan Bank advances		745,982				744,006				—				744,006				—
Subordinated borrowings		38,033				38,033				—				38,033				—
Junior subordinated borrowings		5,000				3,782				—				3,782				—
Derivative liabilities		(222		)		(222		)		—				—				(222		)

X

- 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 gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, 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 liabilities.

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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, 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).

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