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Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2020
Fair Value Disclosures [Abstract] |
Schedule of carrying amount and estimated fair values of financial instruments | Estimated fair values for the Company’s financial instruments are as follows, as of the dates noted: Fair Value of Financial Instruments (dollars in thousands, unaudited)
|  |  | March 31, 2020
|  |  |  |  | Fair Value Measurements
|  | Carrying Amount |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Financial assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 106,992 |  | $ | 106,992 |  | $ | — |  | $ | — |  | $ | 106,992
Investment securities available for sale |  |  | 620,154 |  |  | — |  |  | 620,154 |  |  | — |  |  | 620,154
Loans and leases, net held for investment |  |  | 1,787,101 |  |  | — |  |  | — |  |  | 1,834,373 |  |  | 1,834,373
Collateral dependent impaired loans |  |  | 2,212 |  |  | — |  |  | 2,212 |  |  | — |  |  | 2,212
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 2,179,391 |  |  | 704,700 |  |  | 1,474,482 |  |  | — |  |  | 2,179,182
Repurchase agreements |  |  | 29,361 |  |  | — |  |  | 29,361 |  |  | — |  |  | 29,361
Short term borrowings |  |  | 74,100 |  |  | — |  |  | 74,100 |  |  | — |  |  | 74,100
Subordinated debentures |  |  | 34,990 |  |  | — |  |  | 29,911 |  |  | — |  |  | 29,911
|  |  | December 31, 2019
|  |  |  |  | Fair Value Measurements
|  | Carrying Amount |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Financial assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 80,077 |  | $ | 80,076 |  | $ | — |  | $ | — |  | $ | 80,076
Investment securities available for sale |  |  | 600,799 |  |  | — |  |  | 600,799 |  |  | — |  |  | 600,799
Loans and leases, net held for investment |  |  | 1,753,846 |  |  | — |  |  | — |  |  | 1,761,461 |  |  | 1,761,461
Collateral dependent impaired loans |  |  | 1,692 |  |  | — |  |  | 1,692 |  |  | — |  |  | 1,692
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 2,168,374 |  |  | 690,950 |  |  | 1,477,497 |  |  | — |  |  | 2,168,447
Repurchase agreements |  |  | 25,711 |  |  | — |  |  | 25,711 |  |  | — |  |  | 25,711
Short term borrowings |  |  | 20,000 |  |  | — |  |  | 20,000 |  |  | — |  |  | 20,000
Subordinated debentures |  |  | 34,945 |  |  | — |  |  | 30,564 |  |  | — |  |  | 30,564
Schedule of assets reported at fair value on a recurring basis | Assets reported at fair value on a recurring basis are summarized below: Fair Value Measurements – Recurring (dollars in thousands, unaudited)
|  | Fair Value Measurements at March 31, 2020, using |  |  |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |  | Realized Gain/(Loss) (Level 3)
Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  | $ | — |  | $ | 11,742 |  | $ | — |  | $ | 11,742 |  | $ | —
Mortgage-backed securities |  |  | — |  |  | 405,246 |  |  | — |  |  | 405,246 |  |  | —
State and political subdivisions |  |  | — |  |  | 203,166 |  |  | — |  |  | 203,166 |  |  | —
Total available-for-sale securities |  | $ | — |  | $ | 620,154 |  | $ | — |  | $ | 620,154 |  | $ | —
|  | Fair Value Measurements at December 31, 2019, using |  |  |
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |  | Realized Gain/(Loss) (Level 3)
Securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  | $ | — |  | $ | 12,145 |  | $ | — |  | $ | 12,145 |  | $ | —
Mortgage-backed securities |  |  | — |  |  | 400,389 |  |  | — |  |  | 400,389 |  |  | —
State and political subdivisions |  |  | — |  |  | 188,265 |  |  | — |  |  | 188,265 |  |  | —
Total available-for-sale securities |  | $ | — |  | $ | 600,799 |  | $ | — |  | $ | 600,799 |  | $ | —
Schedule of assets reported at fair value on a nonrecurring basis | Assets reported at fair value on a nonrecurring basis are summarized below: Fair Value Measurements – Nonrecurring (dollars in thousands, unaudited)
|  | Fair Value Measurements at March 31, 2020, using
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Impaired loans |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |
1-4 family residential construction |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Other construction/land |  |  | — |  |  | — |  |  | — |  |  | —
1-4 family - closed-end |  |  | — |  |  | — |  |  | — |  |  | —
Equity lines |  |  | — |  |  | — |  |  | — |  |  | —
Multi-family residential |  |  | — |  |  | — |  |  | — |  |  | —
Commercial real estate - owner occupied |  |  | — |  |  | 86 |  |  | — |  |  | 86
Commercial real estate - non-owner occupied |  |  | — |  |  | 2,126 |  |  | — |  |  | 2,126
Farmland |  |  | — |  |  | — |  |  | — |  |  | —
Total real estate |  |  | — |  |  | 2,212 |  |  | — |  |  | 2,212
Agricultural |  |  | — |  |  | — |  |  | — |  |  | —
Commercial and industrial |  |  | — |  |  | — |  |  | — |  |  | —
Consumer loans |  |  | — |  |  | — |  |  | — |  |  | —
Total impaired loans |  | $ | — |  | $ | 2,212 |  | $ | — |  | $ | 2,212
Foreclosed assets |  | $ | — |  | $ | 766 |  | $ | — |  | $ | 766
Total assets measured on a nonrecurring basis |  | $ | — |  | $ | 2,978 |  | $ | — |  | $ | 2,978
|  | Fair Value Measurements at December 31, 2019, using
|  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Impaired loans |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |
1-4 family residential construction |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Other construction/land |  |  | — |  |  | — |  |  | — |  |  | —
1-4 family - closed-end |  |  | — |  |  | — |  |  | — |  |  | —
Equity lines |  |  | — |  |  | — |  |  | — |  |  | —
Multi-family residential |  |  | — |  |  | — |  |  | — |  |  | —
Commercial real estate - owner occupied |  |  | — |  |  | 88 |  |  | — |  |  | 88
Commercial real estate - non-owner occupied |  |  | — |  |  | 1,605 |  |  | — |  |  | 1,605
Farmland |  |  | — |  |  | — |  |  | — |  |  | —
Total real estate |  |  | — |  |  | 1,693 |  |  | — |  |  | 1,693
Agricultural |  |  | — |  |  | — |  |  | — |  |  | —
Commercial and industrial |  |  | — |  |  | — |  |  | — |  |  | —
Consumer loans |  |  | — |  |  | — |  |  | — |  |  | -
Total impaired loans |  | $ | — |  | $ | 1,693 |  | $ | — |  | $ | 1,693
Foreclosed assets |  | $ | — |  | $ | 800 |  | $ | — |  | $ | 800
Total assets measured on a nonrecurring basis |  | $ | — |  | $ | 2,493 |  | $ | — |  | $ | 2,493

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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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