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Fair value estimates (Tables)

9 Months Ended

Sep. 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
September 30, 2018		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	25,230		$	25,230					$
U.S. Government-sponsored enterprises			91,772					$	91,772
State and Municipals:
Taxable			13,813						13,813
Tax-exempt			89,969						89,969
Mortgage-backed securities:
U.S. Government agencies			13,585						13,585
U.S. Government-sponsored enterprises			40,425						40,425
Common equity securities			291			291
Interest rate swap-other assets			864						864
Interest rate swap-other liabilities			(841)						(841)
Total		$	275,108		$	25,521		$	249,587		$

		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

September 30, 2018

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

3,003

$

3,003

Other real estate owned

$

342

$

342

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
September 30, 2018		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	3,003		Appraisal of collateral		Appraisal adjustments		1.3% to 97.0%   (55.9)%
							Liquidation expenses		3.0% to 6.0% (4.9)%
Other real estate owned		$	342		Appraisal of collateral		Appraisal adjustments		26.0% to 73.3%   (31.8)%
							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
September 30, 2018		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and cash equivalents		$	40,595		$	40,595		$	40,595
Investment securities:
Available-for-sale			274,794			274,794			25,230		$	249,564
Common equity securities			291			291			291
Held-to-maturity			8,551			8,435						8,435
Loans held for sale			98			98						98
Net loans			1,759,032			1,706,913								$	1,706,913
Accrued interest receivable			6,565			6,565						6,565
Mortgage servicing rights			731			1,645						1,645
Restricted equity securities			7,827			7,827						7,827
Interest rate swaps			864			864						864
Total		$	2,099,348		$	2,048,027
Financial liabilities:
Deposits		$	1,827,864		$	1,822,365					$	1,822,365
Short-term borrowings			99,450			99,450						99,450
Long-term debt			48,461			48,487						48,487
Accrued interest payable			745			745						745
Interest rate swaps			841			841						841
Total		$	1,977,361		$	1,971,888

								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 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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

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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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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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