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Fair value estimates (Tables)

3 Months Ended

Mar. 31, 2021

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
March 31, 2021		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	18,825		$	18,825					$
U.S. government-sponsored enterprises			57,583					$	57,583
State and municipals:
Taxable			56,624						56,624
Tax-exempt			71,760						71,760
Mortgage-backed securities:
U.S. government agencies			3,186						3,186
U.S. government-sponsored enterprises			124,286						124,286
Corporate debt securities			1,489						1,489
Common equity securities			159			159
Total investment securities		$	333,912		$	18,984		$	314,928		$
Loan held for sale		$	458					$	458
Interest rate floor-other assets		$	1,455					$	1,455
Interest rate swap-other assets		$	9,980					$	9,980
Interest rate swap-other liabilities		$	(9,496)					$	(9,496)


		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
December 31, 2020		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	18,905		$	18,905					$
U.S. government-sponsored enterprises			65,188					$	65,188
State and municipals:
Taxable			55,366						55,366
Tax-exempt			56,994						56,994
Mortgage-backed securities:
U.S. government agencies			3,707						3,707
U.S. government-sponsored enterprises			94,751						94,751
Corporate debt securities			1,000						1,000
Common equity securities			138			138
Total investment securities		$	296,049		$	19,043		$	277,006		$
Loan held for sale		$	837					$	837
Interest rate floor-other assets		$	1,678					$	1,678
Interest rate swap-other assets		$	13,693					$	13,693
Interest rate swap-other liabilities		$	(14,099)					$	(14,099)

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

March 31, 2021

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

2,241

$

2,241

Other real estate owned

$

131

$

131

Fair Value Measurement Using

Quoted Prices in

Significant Other

Significant

Active Markets for

Observable

Unobservable

Identical Assets

Inputs

Inputs

December 31, 2020

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

2,884

$

2,884

Other real estate owned

$

527

$

527

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
March 31, 2021		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	2,241		Appraisal of collateral		Appraisal adjustments		17.9% to 97.0% (24.8)%
							Liquidation expenses		3.0% to 6.0% (5.5)%
Other real estate owned		$	131		Appraisal of collateral		Appraisal adjustments		20.0% to 58.1% (39.5)%
							Liquidation expenses		3.0% to 6.0% (5.0)%


		Quantitative Information about Level 3 Fair Value Measurements
		Fair Value							Range
December 31, 2020		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	2,884		Appraisal of collateral		Appraisal adjustments		9.0% to 97.0% (28.2)%
							Liquidation expenses		3.0% to 6.0% (5.5)%
Other real estate owned		$	527		Appraisal of collateral		Appraisal adjustments		3.1% to 58.1% (29.9)%
							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
March 31, 2021		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and due from banks		$	303,318		$	303,318		$	303,318
Investment securities:
Available-for-sale			333,753			333,753			18,825		$	314,928
Common equity securities			159			159			159
Held-to-maturity			7,166			7,389						7,389
Loans held for sale			458			458						458
Net loans			2,152,751			2,133,875								$	2,133,875
Accrued interest receivable			8,206			8,206						8,206
Mortgage servicing rights			833			1,261						1,261
Restricted equity securities (FHLB and other)			5,461			5,461						5,461
Interest rate floor			1,455			1,455						1,455
Interest rate swaps			9,980			9,980						9,980
Total		$	2,823,540		$	2,805,315
Financial liabilities:
Deposits		$	2,550,416		$	2,552,977					$	2,552,977
Long-term debt			14,264			14,481						14,481
Subordinated debentures			33,000			32,574						32,574
Accrued interest payable			1,120			1,120						1,120
Interest rate swaps			9,496			9,496						9,496
Total		$	2,608,296		$	2,610,648


								Fair Value Hierarchy
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
December 31, 2020		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and due from banks		$	228,192		$	228,192		$	228,192
Investment securities:
Available-for-sale			295,911			295,911			18,905		$	277,006
Common equity securities			138			138			138
Held-to-maturity			7,225			7,513						7,513
Loans held for sale			837			837						837
Net loans			2,150,638			2,145,752								$	2,145,752
Accrued interest receivable			8,255			8,255						8,255
Mortgage servicing rights			838			1,269						1,269
Restricted equity securities (FHLB and other)			5,397			5,397						5,397
Interest rate floor			1,678			1,678						1,678
Interest rate swaps			13,693			13,693						13,693
Total		$	2,712,802		$	2,708,635
Financial liabilities:
Deposits		$	2,437,113		$	2,441,014					$	2,441,014
Long-term debt			14,769			15,073						15,073
Subordinated debentures			33,000			33,096						33,096
Accrued interest payable			736			736						736
Interest rate swaps			14,099			14,099						14,099
Total		$	2,499,717		$	2,504,018