XML 41 R28.htm IDEA: XBRL DOCUMENT v3.8.0.1

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Estimated Fair Value of Financial Instruments

The estimated carrying and fair values of the Company’s financial instruments are as follows (in thousands):

		December 31, 2017
		Carrying Amount				Fair Value
						Level 1				Level 2				Level 3				Total
Financial assets:
Cash and due from banks		$	38,286			$	38,286			$	—			$	—			$	38,286
Interest-earning deposits in other banks		62,080				62,080				—				—				62,080
Federal funds sold		17				17				—				—				17
Available-for-sale investment securities		542,704				7,423				535,281				—				542,704
Loans, net		891,901				—				—				899,191				899,191
Federal Home Loan Bank stock		6,843				N/A				N/A				N/A				N/A
Accrued interest receivable		7,168				57				3,256				3,855				7,168
Financial liabilities:
Deposits		1,425,687				1,296,048				127,966				—				1,424,014
Short-term borrowings		—				—				—				—				—
Junior subordinated deferrable interest debentures		5,155				—				—				3,550				3,550
Accrued interest payable		110				—				72				38				110

		December 31, 2016
		Carrying Amount				Fair Value
						Level 1				Level 2				Level 3				Total
Financial assets:
Cash and due from banks		$	28,185			$	28,185			$	—			$	—			$	28,185
Interest-earning deposits in other banks		10,368				10,368				—				—				10,368
Federal funds sold		15				15				—				—				15
Available-for-sale investment securities		547,749				7,416				540,333				—				547,749
Held-to-maturity investment securities		—				—				—				—				—
Loans, net		747,302				—				—				761,023				761,023
Federal Home Loan Bank stock		5,594				N/A				N/A				N/A				N/A
Accrued interest receivable		7,885				26				4,517				3,342				7,885
Financial liabilities:
Deposits		1,255,979				1,099,200				156,711				—				1,255,911
Short-term borrowings		400				—				400				—				400
Junior subordinated deferrable interest debentures		5,155				—				—				3,235				3,235
Accrued interest payable		144				—				111				33				144

Fair Value of Assets on a Recurring Basis

The Company is required or permitted to record the following assets at fair value on a recurring basis under other accounting pronouncements (in thousands):

		Fair Value				Level 1				Level 2				Level 3
Available-for-sale securities
Debt Securities:
U.S. Government agencies		$	68,970			$	—			$	68,970			$	—
Obligations of states and political subdivisions		290,299				—				290,299				—
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations		178,221				—				178,221				—
Private label residential mortgage and asset backed securities		2,843				—				2,843				—
Other equity securities		7,416				7,416				—				—
Total assets measured at fair value on a recurring basis		$	547,749			$	7,416			$	540,333			$	—

The Company is required or permitted to record the following assets at fair value on a recurring basis under other accounting pronouncements (in thousands):

		Fair Value				Level 1				Level 2				Level 3
Available-for-sale investment securities
Debt Securities:
U.S. Government agencies		$	66,587			$	—			$	66,587			$	—
Obligations of states and political subdivisions		143,105				—				143,105				—
U.S. Government sponsored entities and agencies collateralized by residential mortgage obligations		234,908				—				234,908				—
Private label residential mortgage and asset backed securities		90,681				—				90,681				—
Other equity securities		7,423				7,423				—				—
Total assets measured at fair value on a recurring basis		$	542,704			$	7,423			$	535,281			$	—

Fair Value of Assets on a Non-recurring Basis

The Company may be required, from time to time, to measure certain assets and liabilities at fair value on a non-recurring basis.  These include the following assets and liabilities that are measured at the lower of cost or fair value that were recognized at fair value which was below cost at December 31, 2016 (in thousands):

		Fair Value				Level 1				Level 2				Level 3
Impaired loans:
Consumer:
Equity loans and lines of credit		$	47			$	—			$	—			$	47
Total consumer		47				—				—				47
Total impaired loans		$	47			$	—			$	—			$	47
Other repossessed assets		$	362			$	—			$	—			$	362
Total assets measured at fair value on a non-recurring basis		$	409			$	—			$	—			$	409

The Company may be required, from time to time, to measure certain assets and liabilities at fair value on a non-recurring basis.  These include the following assets and liabilities that are measured at the lower of cost or fair value that were recognized at fair value which was below cost at December 31, 2017 (in thousands):

		Fair Value				Level 1				Level 2				Level 3
Other repossessed assets		$	70			$	—			$	—			$	70
Total assets measured at fair value on a non-recurring basis		$	70			$	—			$	—			$	70

X

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13476-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13467-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=75026489&loc=d3e13220-108610

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13433-108611

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration