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Fair value estimates (Tables)

6 Months Ended

Jun. 30, 2018

Fair value estimates

Schedule of assets and liabilities measured at fair value on a recurring basis

		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
June 30, 2018		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	25,347		$	25,347					$
U.S. Government-sponsored enterprises			92,048					$	92,048
State and Municipals:
Taxable			13,909						13,909
Tax-exempt			95,134						95,134
Mortgage-backed securities:
U.S. Government agencies			15,700						15,700
U.S. Government-sponsored enterprises			32,912						32,912
Common equity securities			278			278
Interest rate swap-other assets			574						574
Interest rate swap-other liabilities			(568)						(568)
Total		$	275,334		$	25,625		$	249,709		$

		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
December 31, 2017		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	19,814		$	19,814					$
U.S. Government-sponsored enterprises			93,648					$	93,648
State and Municipals:
Taxable			15,047						15,047
Tax-exempt			103,833						103,833
Mortgage-backed securities:
U.S. Government agencies			14,434						14,434
U.S. Government-sponsored enterprises			25,726						25,726
Common equity securities			46			46
Interest rate swap-other assets			655						655
Interest rate swap-other liabilities			(733)						(733)
Total		$	272,470		$	19,860		$	252,610		$

Schedule of assets and liabilities measured at fair value on a nonrecurring basis

Fair Value Measurement Using

Quoted Prices in

Significant

Significant

Active Markets for

Other Observable

Unobservable

Identical Assets

Inputs

Inputs

June 30, 2018

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

3,254

$

3,254

Other real estate owned

$

500

$

500

Fair Value Measurement Using

Quoted Prices in

Significant Other

Significant

Active Markets for

Observable

Unobservable

Identical Assets

Inputs

Inputs

December 31, 2017

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

3,424

$

3,424

Other real estate owned

$

216

$

216

Schedule of additional quantitative information about assets measured at fair value on a nonrecurring basis

		Quantitative Information about Level 3 Fair Value Measurements
		Fair Value							Range
June 30, 2018		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	3,254		Appraisal of collateral		Appraisal adjustments		3.8% to 97.0%   (60.3)%
							Liquidation expenses		3.0% to 6.0% (4.5)%
Other real estate owned		$	500		Appraisal of collateral		Appraisal adjustments		20.0% to 43.4%   (30.6)%
							Liquidation expenses		3.0% to 6.0% (5.0)%

		Quantitative Information about Level 3 Fair Value Measurements
		Fair Value							Range
December 31, 2017		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	3,424		Appraisal of collateral		Appraisal adjustments		4.0% to 97.0%   (67.2)%
							Liquidation expenses		3.0% to 6.0% (4.9)%
Other real estate owned		$	216		Appraisal of collateral		Appraisal adjustments		25.0% to 41.3%   (30.7)%
							Liquidation expenses		3.0% to 6.0% (5.0)%

Schedule of carrying and fair values of financial instruments

								Fair Value Hierarchy
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
June 30, 2018		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and cash equivalents		$	35,379		$	35,379		$	35,379
Investment securities:
Available-for-sale			275,050			275,050			25,347		$	249,703
Common equity securities			278			278			278
Held-to-maturity			8,780			8,758						8,758
Net loans			1,733,816			1,688,615								$	1,688,615
Accrued interest receivable			6,802			6,802						6,802
Mortgage servicing rights			724			1,629						1,629
Restricted equity securities			11,356			11,356						11,356
Interest rate swaps			574			574						574
Total		$	2,072,759		$	2,028,441
Financial liabilities:
Deposits		$	1,718,861		$	1,714,013					$	1,714,013
Short-term borrowings			187,450			187,450						187,450
Long-term debt			48,911			49,032						49,032
Accrued interest payable			538			538						538
Interest rate swaps			568			568						568
Total		$	1,956,328		$	1,951,601

								Fair Value Hierarchy
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
December 31, 2017		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and cash equivalents		$	37,488		$	37,488		$	37,488
Investment securities:
Available-for-sale			272,548			272,548			19,860		$	252,688
Held-to-maturity			9,274			9,547						9,547
Loans held for sale			106			106						106
Net loans			1,674,105			1,645,292								$	1,645,292
Accrued interest receivable			6,936			6,936						6,936
Mortgage servicing rights			728			1,638						1,638
Restricted equity securities			8,562			8,562						8,562
Interest rate swaps			655			655						655
Total		$	2,010,402		$	1,982,772
Financial liabilities:
Deposits		$	1,719,018		$	1,666,284					$	1,666,284
Short-term borrowings			123,675			123,675						123,675
Long-term debt			49,734			50,147						50,147
Accrued interest payable			497			497						497
Interest rate swaps			733			733						733
Total		$	1,893,657		$	1,841,336

X

- 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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
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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

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-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
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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).

+ References

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