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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2019
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, 2019 and December 31, 2018, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value.
|  | December 31, 2019
(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 |  | $ | — |  |  | $ | 321,969 |  |  | $ | — |  |  | $ | 321,969 |
US Government agency |  | — |  |  | 99,661 |  |  | — |  |  | 99,661 |
Private label |  | — |  |  | 19,533 |  |  | — |  |  | 19,533 |
Obligations of states and political subdivisions thereof |  | — |  |  | 142,006 |  |  | — |  |  | 142,006 |
Corporate bonds |  | — |  |  | 80,061 |  |  | — |  |  | 80,061 |
Derivative assets |  | — |  |  | 6,791 |  |  | 59 |  |  | 6,850 |
Derivative liabilities |  | — |  |  | (8,102 | ) |  | (84 | ) |  | (8,186 | )
|  | 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 | )
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 2019 and 2018.
|  | Assets (Liabilities)
(in thousands) |  | Interest Rate Lock Commitments |  | Forward Commitments
December 31, 2017 |  | $ | (1 | ) |  | $ | (221 | )
Realized loss recognized in non-interest income |  | 9 |  |  | 221 |
December 31, 2018 |  | 8 |  |  | — |
Realized gain (loss) recognized in non-interest income |  | 51 |  |  | (84 | )
December 31, 2019 |  | $ | 59 |  |  | $ | (84 | )
Schedule of Quantitative Information About the Significant Unobservable Inputs Within Level 3 | Quantitative information about the significant unobservable inputs within Level 3 non-recurring assets as of December 31, 2019 and December 31, 2018 is as follows:
|  | Fair Value |  |  |  |  |  | Range (Weighted Average) (a)
(in thousands, except ratios) |  | December 31, 2019 |  | Valuation Techniques |  | Unobservable Inputs |
Assets |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 6,137 |  |  | Fair value of collateral - appraised value |  | Loss severity |  | 0% to 55.00% |
|  |  |  |  |  | Appraised value |  | $0 to $6,915 |
Impaired loans |  | 3,488 |  |  | Discounted cash flow |  | Discount rate |  | 2.88% to 9.50% |
|  |  |  |  |  | Cash flows |  | $22 to $1,002 |
Capitalized servicing rights |  | 4,301 |  |  | Discounted cash flow |  | Constant prepayment rate (CPR) |  | 9.95 | %
|  |  |  |  |  | Discount rate |  | 10.07 | %
Other real estate owned |  | 2,236 |  |  | Fair value of collateral less selling costs |  | Appraised value |  |  | $2,695 |
|  |  |  |  |  | Selling costs |  | 10% to 20% |
Premises held for sale(b) |  | 1,764 |  |  | Fair value of asset less selling costs |  | Appraised value |  | $136 to $527 |
|  |  |  |  |  | Selling Costs |  | 6.00 | %
Total |  | $ | 17,926 |  |  |  |  |  |  |
______________________________________
(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.
(b) | The carrying value of premises held for sale was $1.8 million as of December 31, 2019. There were no premises held for sale as of December 31, 2018.
|  | 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 |  |  | Discount 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.
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, 2019 |  | Valuation Techniques |  | Unobservable Inputs |  | Significant Unobservable Input Value
Assets (Liabilities) |  |  |  |  |  |  |  |  |  |
Interest Rate Lock Commitment |  | $ | 59 |  |  | Historical trend |  | Closing Ratio |  | 90 | %
|  |  |  | Pricing Model |  | Origination Costs, per loan |  | $ | 1.7 |
Forward Commitments |  | (84 | ) |  | Quoted prices for similar loans in active markets. |  | Freddie Mac pricing system |  | Pair-off contract price |
Total |  | $ | (25 | ) |  |  |  |  |  |  |
Summary of Applicable Non-Recurring Fair Value Measurements | The following is a summary of applicable non-recurring fair value measurements.
|  | December 31, 2019 |  | December 31, 2018 |  | December 31, 2019 |  | Fair Value Measurement Date as of December 31, 2019
(in thousands) |  | Level 3 Inputs |  | Level 3 Inputs |  | Total Gains (Losses) |  | Level 3 Inputs
Assets |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | 9,625 |  |  | $ | 15,213 |  |  | $ | 5,588 |  |  | December 2019
Capitalized servicing rights |  | 4,301 |  |  | 4,882 |  |  | — |  |  | December 2019
Other real estate owned |  | 2,236 |  |  | 2,351 |  |  | (166 | ) |  | August 2019
Premises held for sale |  | 1,764 |  |  | — |  |  | — |  |  | September 2019
Total |  | $ | 17,926 |  |  | $ | 22,446 |  |  | $ | 5,422 |  |  |
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, 2019 and December 31, 2018. 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, 2019
(in thousands) |  | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 56,910 |  |  | $ | 56,910 |  |  | $ | 56,910 |  |  | $ | — |  |  | $ | — |
Securities available for sale |  | 663,230 |  |  | 663,230 |  |  | — |  |  | 663,230 |  |  | — |
FHLB bank stock |  | 20,679 |  |  | 20,679 |  |  | — |  |  | 20,679 |  |  | — |
Net loans |  | 2,625,739 |  |  | 2,634,147 |  |  | — |  |  | — |  |  | 2,634,147 |
Accrued interest receivable |  | 3,294 |  |  | 3,294 |  |  | — |  |  | 3,294 |  |  | — |
Cash surrender value of bank-owned life insurance policies |  | 75,863 |  |  | 75,863 |  |  | — |  |  | 75,863 |  |  | — |
Derivative assets |  | 6,850 |  |  | 6,850 |  |  | — |  |  | 6,791 |  |  | 59 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |
Non-maturity deposits |  | $ | 1,763,116 |  |  | $ | 1,751,481 |  |  | $ | — |  |  | $ | 1,751,481 |  |  | $ | — |
Time deposits |  | 932,635 |  |  | 932,886 |  |  | — |  |  | 932,886 |  |  | — |
Other short-term borrowings |  | 44,832 |  |  | 44,831 |  |  | — |  |  | 44,831 |  |  | — |
Federal Home Loan Bank advances |  | 426,564 |  |  | 425,989 |  |  | — |  |  | 425,989 |  |  | — |
Subordinated borrowings |  | 59,920 |  |  | 59,920 |  |  | — |  |  | 59,920 |  |  | — |
Derivative liabilities |  | (8,186 | ) |  | (8,186 | ) |  | — |  |  | (8,102 | ) |  | (84 | )
|  | 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 |  |  |  |  |  |  |  |  |  |
Non-maturity deposits |  | $ | 1,550,445 |  |  | $ | 1,476,673 |  |  | $ | — |  |  | $ | 1,476,673 |  |  | $ | — |
Time deposits |  | 932,793 |  |  | 927,577 |  |  | — |  |  | 927,577 |  |  | — |
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 | )

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- 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. + References No definition available. + Details
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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 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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