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Fair value estimates (Tables)

9 Months Ended

Sep. 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
September 30, 2020		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	22,005		$	22,005					$
U.S. government-sponsored enterprises			74,287					$	74,287
State and municipals:
Taxable			33,528						33,528
Tax-exempt			33,911						33,911
Mortgage-backed securities:
U.S. government agencies			4,236						4,236
U.S. government-sponsored enterprises			79,437						79,437
Common equity securities			341			341
Loan held for sale			2,161						2,161
Interest rate floor-other assets			1,845						1,845
Interest rate swap-other assets			16,346						16,346
Interest rate swap-other liabilities			(16,935)						(16,935)
Total		$	251,162		$	22,346		$	228,816		$


		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

September 30, 2020

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

4,021

$

4,021

Other real estate owned

$

440

$

440

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
September 30, 2020		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	4,021		Appraisal of collateral		Appraisal adjustments		9.0% to 97.0% (28.6)%
							Liquidation expenses		3.0% to 6.0% (5.6)%
Other real estate owned		$	440		Appraisal of collateral		Appraisal adjustments		35.0% to 58.1% (41.0)%
							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
September 30, 2020		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and cash equivalents		$	166,212		$	166,212		$	166,212
Investment securities:
Available-for-sale			247,404			247,404			22,005		$	225,399
Common equity securities			341			341			341
Held-to-maturity			7,297			7,611						7,611
Loans held for sale			2,161			2,161						2,161
Net loans			2,161,879			2,160,530								$	2,160,530
Accrued interest receivable			8,595			8,595						8,595
Mortgage servicing rights			784			1,534						1,534
Restricted equity securities (FHLB and other)			5,545			5,545						5,545
Interest rate floor			1,845			1,845						1,845
Interest rate swaps			16,346			16,346						16,346
Total		$	2,618,409		$	2,618,124
Financial liabilities:
Deposits		$	2,356,884		$	2,361,473					$	2,361,473
Long-term debt			20,269			20,682						20,682
Subordinated debentures			33,000			33,205						33,205
Accrued interest payable			1,289			1,289						1,289
Interest rate swaps			16,935			16,935						16,935
Total		$	2,428,377		$	2,433,584


								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