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Fair value estimates (Tables)

6 Months Ended

Jun. 30, 2019

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, 2019		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	24,084		$	24,084					$
U.S. Government-sponsored enterprises			93,489					$	93,489
State and Municipals:
Taxable			12,842						12,842
Tax-exempt			70,135						70,135
Mortgage-backed securities:
U.S. Government agencies			10,784						10,784
U.S. Government-sponsored enterprises			50,331						50,331
Common equity securities			283			283
Interest rate floor-other assets			1,025						1,025
Interest rate swap-other assets			3,807						3,807
Interest rate swap-other liabilities			(4,182)						(4,182)
Total		$	262,598		$	24,367		$	238,231		$

		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
December 31, 2018		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	25,592		$	25,592					$
U.S. Government-sponsored enterprises			92,818					$	92,818
State and Municipals:
Taxable			13,853						13,853
Tax-exempt			85,954						85,954
Mortgage-backed securities:
U.S. Government agencies			12,629						12,629
U.S. Government-sponsored enterprises			38,836						38,836
Common equity securities			291			291
Interest rate floor-other assets			553						553
Interest rate swap-other assets			108						108
Interest rate swap-other liabilities			(138)						(138)
Total		$	270,496		$	25,883		$	244,613		$

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, 2019

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

2,865

$

2,865

Other real estate owned

$

250

$

250

Fair Value Measurement Using

Quoted Prices in

Significant Other

Significant

Active Markets for

Observable

Unobservable

Identical Assets

Inputs

Inputs

December 31, 2018

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

2,809

$

2,809

Other real estate owned

$

234

$

234

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, 2019		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	2,865		Appraisal of collateral		Appraisal adjustments		7.6% to 97.0%   (56.7)%
							Liquidation expenses		3.0% to 6.0% (5.4)%
Other real estate owned		$	250		Appraisal of collateral		Appraisal adjustments		20.0% to 43.3%   (32.0)%
							Liquidation expenses		3.0% to 6.0% (5.0)%

		Quantitative Information about Level 3 Fair Value Measurements
		Fair Value							Range
December 31, 2018		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	2,809		Appraisal of collateral		Appraisal adjustments		7.1% to 97.0%   (61.8)%
							Liquidation expenses		3.0% to 6.0% (4.4)%
Other real estate owned		$	234		Appraisal of collateral		Appraisal adjustments		26.0% to 73.3%   (38.9)%
							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, 2019		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and cash equivalents		$	29,962		$	29,962		$	29,962
Investment securities:
Available-for-sale			261,665			261,665			24,084		$	237,581
Common equity securities			283			283			283
Held-to-maturity			7,969			8,151						8,151
Net loans			1,836,869			1,830,139								$	1,830,139
Accrued interest receivable			7,303			7,303						7,303
Mortgage servicing rights			719			1,712						1,712
Restricted equity securities			7,833			7,833						7,833
Interest rate floor			1,025			1,025						1,025
Interest rate swaps			3,807			3,807						3,807
Total		$	2,157,435		$	2,151,880
Financial liabilities:
Deposits		$	1,876,799		$	1,862,246					$	1,862,246
Short-term borrowings			82,700			82,700						82,700
Long-term debt			52,980			53,338						53,338
Accrued interest payable			1,058			1,058						1,058
Interest rate swaps			4,182			4,182						4,182
Total		$	2,017,719		$	2,003,524

								Fair Value Hierarchy
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
December 31, 2018		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and cash equivalents		$	32,616		$	32,616		$	32,616
Investment securities:
Available-for-sale			269,682			269,682			25,952		$	244,090
Common equity securities			291			291			291
Held-to-maturity			8,361			8,380						8,380
Loans held for sale			749			749						749
Net loans			1,801,887			1,762,449								$	1,762,449
Accrued interest receivable			7,115			7,115						7,115
Mortgage servicing rights			718			1,710						1,710
Restricted equity securities			7,462			7,462						7,462
Interest rate floor			553			553						553
Interest rate swaps			108			108						108
Total		$	2,129,542		$	2,091,115
Financial liabilities:
Deposits		$	1,875,022		$	1,874,520					$	1,874,520
Short-term borrowings			86,500			86,500						86,500
Long-term debt			37,906			38,071						38,071
Accrued interest payable			1,195			1,195						1,195
Interest rate swaps			138			138						138
Total		$	2,000,761		$	2,000,424

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=117815213&loc=d3e19207-110258

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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

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
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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

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)
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