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Fair value estimates (Tables)

6 Months Ended

Jun. 30, 2020

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, 2020		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	22,077		$	22,077					$
U.S. government-sponsored enterprises			81,101					$	81,101
State and municipals:
Taxable			33,161						33,161
Tax-exempt			38,025						38,025
Mortgage-backed securities:
U.S. government agencies			5,867						5,867
U.S. government-sponsored enterprises			107,478						107,478
Common equity securities			338			338
Loan held for sale			1,939						1,939
Interest rate floor-other assets			2,019						2,019
Interest rate swap-other assets			15,912						15,912
Interest rate swap-other liabilities			(16,005)						(16,005)
Total		$	291,912		$	22,415		$	269,497		$


		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
December 31, 2019		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	24,128		$	24,128					$
U.S. government-sponsored enterprises			87,110					$	87,110
State and municipals:
Taxable			34,898						34,898
Tax-exempt			60,163						60,163
Mortgage-backed securities:
U.S. government agencies			8,470						8,470
U.S. government-sponsored enterprises			115,709						115,709
Common equity securities			423			423
Loan held for sale			986						986
Interest rate floor-other assets			944						944
Interest rate swap-other assets			4,728						4,728
Interest rate swap-other liabilities			(4,680)						(4,680)
Total		$	332,879		$	24,551		$	308,328		$

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, 2020

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

4,004

$

4,004

Other real estate owned

$

588

$

588

Fair Value Measurement Using

Quoted Prices in

Significant Other

Significant

Active Markets for

Observable

Unobservable

Identical Assets

Inputs

Inputs

December 31, 2019

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

1,808

$

1,808

Other real estate owned

$

283

$

283

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, 2020		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	4,004		Appraisal of collateral		Appraisal adjustments		5.0% to 97.0% (57.2)%
							Liquidation expenses		3.0% to 6.0% (5.6)%
Other real estate owned		$	588		Appraisal of collateral		Appraisal adjustments		18.4% to 63.5% (40.6)%
							Liquidation expenses		3.0% to 6.0% (5.0)%


		Quantitative Information about Level 3 Fair Value Measurements
		Fair Value							Range
December 31, 2019		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	1,808		Appraisal of collateral		Appraisal adjustments		8.6% to 97.0% (54.4)%
							Liquidation expenses		3.0% to 6.0% (5.2)%
Other real estate owned		$	283		Appraisal of collateral		Appraisal adjustments		20.0% to 63.6% (43.7)%
							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, 2020		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and cash equivalents		$	51,934		$	51,934		$	51,934
Investment securities:
Available-for-sale			287,709			287,709			22,077		$	265,632
Common equity securities			338			338			338
Held-to-maturity			7,401			7,717						7,717
Loans held for sale			1,939			1,939						1,939
Net loans			2,154,952			2,132,783								$	2,132,783
Accrued interest receivable			8,368			8,368						8,368
Mortgage servicing rights			772			1,359						1,359
Restricted equity securities (FHLB and other)			5,353			5,353						5,353
Interest rate floor			2,019			2,019						2,019
Interest rate swaps			15,912			15,912						15,912
Total		$	2,536,697		$	2,515,431
Financial liabilities:
Deposits		$	2,210,124		$	2,214,974					$	2,214,974
Long-term debt			60,938			61,453						61,453
Subordinated debentures			33,000			33,201						33,201
Accrued interest payable			872			872						872
Interest rate swaps			16,005			16,005						16,005
Total		$	2,320,939		$	2,326,505


								Fair Value Hierarchy
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
December 31, 2019		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and cash equivalents		$	31,153		$	31,153		$	31,153
Investment securities:
Available-for-sale			330,478			330,478			24,128		$	306,350
Common equity securities			423			423			423
Held-to-maturity			7,656			7,889						7,889
Loans held for sale			986			986						986
Net loans			1,915,563			1,881,658								$	1,881,658
Accrued interest receivable			6,981			6,981						6,981
Mortgage servicing rights			738			1,444						1,444
Restricted equity securities (FHLB and other)			10,201			10,201						10,201
Interest rate floor			944			944						944
Interest rate swaps			4,728			4,728						4,728
Total		$	2,309,851		$	2,276,885
Financial liabilities:
Deposits		$	1,971,489		$	1,972,084					$	1,972,084
Long-term debt			32,733			33,075						33,075
Accrued interest payable			1,277			1,277						1,277
Interest rate swaps			4,680			4,680						4,680
Total		$	2,010,179		$	2,011,116