XML 108 R38.htm IDEA: XBRL DOCUMENT
v3.20.1

Fair Value Measurement (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2020
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Fair Value | Assets and liabilities measured at fair value are summarized in the table below.
|  | Fair Value Measurements at March 31, 2020 Using: |
Assets: |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets measured at fair value on a recurring basis: |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ | — |  |  | $ | 19,611 |  |  | $ | — |
Obligations of states and political subdivisions |  |  | — |  |  |  | 212,149 |  |  |  | — |
Mortgage-backed securities in government sponsored entities |  |  | — |  |  |  | 134,126 |  |  |  | — |
Total securities available for sale |  |  | — |  |  |  | 365,886 |  |  |  | — |
Equity securities |  |  | — |  |  |  | 803 |  |  |  | — |
Swap asset |  |  | — |  |  |  | 23,003 |  |  |  | — |
Liabilities measured at fair value on a recurring basis: |  |  |  |  |  |  |  |  |  |  |  |
Swap liability |  |  | — |  |  |  | 23,003 |  |  |  | — |
Assets measured at fair value on a nonrecurring basis: |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | — |  |  | $ | — |  |  | $ | 1 |
|  | Fair Value Measurements at December 31, 2019 Using: |
Assets: |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets measured at fair value on a recurring basis: |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities and obligations of U.S. Government agencies |  | $ | — |  |  | $ | 19,601 |  |  | $ | — |
Obligations of states and political subdivisions |  |  | — |  |  |  | 206,034 |  |  |  | — |
Mortgage-backed securities in government sponsored entities |  |  | — |  |  |  | 132,864 |  |  |  | — |
Total securities available for sale |  |  | — |  |  |  | 358,499 |  |  |  | — |
Equity securities |  |  | — |  |  |  | 1,191 |  |  |  | — |
Swap asset |  |  | — |  |  |  | 8,918 |  |  |  | — |
Liabilities measured at fair value on a recurring basis: |  |  |  |  |  |  |  |  |  |  |  |
Swap liability |  |  | — |  |  |  | 8,918 |  |  |  | — |
Assets measured at fair value on a nonrecurring basis: |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Quantitative Information about Level 3 Fair Value Measurements | The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at March 31, 2020.
|  | Quantitative Information about Level 3 Fair Value Measurements |
March 31, 2020 |  | Fair Value |  |  | Valuation Technique |  | Unobservable Input |  | Range |  | Weighted Average |
Impaired loans |  | $ | 1 |  |  | Appraisal of collateral |  | Appraisal adjustments |  | 30% |  | 30% |
|  |  |  |  |  |  |  | Holding period |  | 22 Months |  | 22 Months |
The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2019.
|  | Quantitative Information about Level 3 Fair Value Measurements |
December 31, 2019 |  | Fair Value |  |  | Valuation Technique |  | Unobservable Input |  | Range |  | Weighted Average |
Impaired loans |  | $ | 1 |  |  | Appraisal of collateral |  | Appraisal adjustments |  | 30% |  | 30% |
|  |  |  |  |  |  |  | Holding period |  | 22 months |  | 22 months |
Carrying Amount and Fair Value of Financial Instruments Not Measured at Fair Value on a Recurring or Nonrecurring Basis | The carrying amount and fair values of financial instruments not measured at fair value on a recurring or nonrecurring basis at March 31, 2020 are as follows:
March 31, 2020 |  | Carrying Amount |  |  | Total Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from financial institutions |  | $ | 256,023 |  |  | $ | 256,023 |  |  | $ | 256,023 |  |  | $ | — |  |  | $ | — |
Other securities |  |  | 20,280 |  |  |  | 20,280 |  |  |  | 20,280 |  |  |  | — |  |  |  | — |
Loans, held for sale |  |  | 7,632 |  |  |  | 7,785 |  |  |  | 7,785 |  |  |  | — |  |  |  | — |
Loans, net of allowance |  |  | 1,726,177 |  |  |  | 1,760,613 |  |  |  | — |  |  |  | — |  |  |  | 1,760,613 |
Bank owned life insurance |  |  | 45,249 |  |  |  | 45,249 |  |  |  | 45,249 |  |  |  | — |  |  |  | — |
Accrued interest receivable |  |  | 7,220 |  |  |  | 7,220 |  |  |  | 7,220 |  |  |  | — |  |  |  | — |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonmaturing deposits |  |  | 1,703,668 |  |  |  | 1,703,235 |  |  |  | 1,703,235 |  |  |  | — |  |  |  | — |
Time deposits |  |  | 288,271 |  |  |  | 290,726 |  |  |  | — |  |  |  | — |  |  |  | 290,726 |
Short-term FHLB advances |  |  | 17,000 |  |  |  | 17,000 |  |  |  | 17,000 |  |  |  | — |  |  |  | — |
Long-term FHLB advances |  |  | 125,000 |  |  |  | 129,992 |  |  |  | — |  |  |  | — |  |  |  | 129,992 |
Securities sold under agreement to repurchase |  |  | 22,699 |  |  |  | 22,699 |  |  |  | 22,699 |  |  |  | — |  |  |  | — |
Subordinated debentures |  |  | 29,427 |  |  |  | 31,460 |  |  |  | — |  |  |  | — |  |  |  | 31,460 |
Accrued interest payable |  |  | 279 |  |  |  | 279 |  |  |  | 279 |  |  |  | — |  |  |  | — |
The carrying amount and fair values of financial instruments not measured at fair value on a recurring or nonrecurring basis at December 31, 2019 are as follows:
December 31, 2019 |  | Carrying Amount |  |  | Total Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and due from financial institutions |  | $ | 48,535 |  |  | $ | 48,535 |  |  | $ | 48,535 |  |  | $ | — |  |  | $ | — |
Other securities |  |  | 20,280 |  |  |  | 20,280 |  |  |  | 20,280 |  |  |  | — |  |  |  | — |
Loans, held for sale |  |  | 2,285 |  |  |  | 2,331 |  |  |  | 2,331 |  |  |  | — |  |  |  | — |
Loans, net of allowance |  |  | 1,694,203 |  |  |  | 1,713,863 |  |  |  | — |  |  |  | — |  |  |  | 1,713,863 |
Bank owned life insurance |  |  | 44,999 |  |  |  | 44,999 |  |  |  | 44,999 |  |  |  | — |  |  |  | — |
Accrued interest receivable |  |  | 7,093 |  |  |  | 7,093 |  |  |  | 7,093 |  |  |  | — |  |  |  | — |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonmaturing deposits |  |  | 1,402,924 |  |  |  | 1,402,924 |  |  |  | 1,402,924 |  |  |  | — |  |  |  | — |
Time deposits |  |  | 275,840 |  |  |  | 276,616 |  |  |  | — |  |  |  | — |  |  |  | 276,616 |
Short-term FHLB advances |  |  | 101,500 |  |  |  | 101,500 |  |  |  | 101,500 |  |  |  | — |  |  |  | — |
Long-term FHLB advances |  |  | 125,000 |  |  |  | 123,893 |  |  |  | — |  |  |  | — |  |  |  | 123,893 |
Securities sold under agreement to repurchase |  |  | 18,674 |  |  |  | 18,674 |  |  |  | 18,674 |  |  |  | — |  |  |  | — |
Subordinated debentures |  |  | 29,427 |  |  |  | 34,452 |  |  |  | — |  |  |  | — |  |  |  | 34,452 |
Accrued interest payable |  |  | 277 |  |  |  | 277 |  |  |  | 277 |  |  |  | — |  |  |  | — |

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + 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 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=117815213&loc=SL7498348-110258 Reference 4: 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 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis. + 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 (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611 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
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