XML 47 R36.htm IDEA: XBRL DOCUMENT v3.10.0.1

Fair Value (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Assets Measured on Recurring Basis Measured at Fair Value

The following tables present the balances of assets that were measured at fair value on a recurring basis as of September 30, 2018, December 31, 2017 and September 30, 2017.

	At September 30, 2018
	Level 1				Level 2				Level 3				Total
Securities available for sale
U.S. Government-sponsored agencies	$	—			$	4,979,000			$	—			$	4,979,000
Mortgage-backed securities	—				292,570,000				—				292,570,000
State and political subdivisions	—				4,638,000				—				4,638,000
Other equity securities	—				3,257,000				—				3,257,000
Total securities available for sale	—				305,444,000				—				305,444,000
Interest rate swap agreements	—				2,888,000				—				2,888,000
Total assets	$	—			$	308,332,000			$	—			$	308,332,000

	At December 31, 2017
	Level 1				Level 2				Level 3				Total
Securities available for sale
Mortgage-backed securities	$	—			$	289,989,000			$	—			$	289,989,000
State and political subdivisions	—				6,769,000				—				6,769,000
Other equity securities	—				3,414,000				—				3,414,000
Total securities available for sale	—				300,172,000				—				300,172,000
Interest rate swap agreements	—				1,955,000				—				1,955,000
Total assets	$	—			$	302,127,000			$	—			$	302,127,000

	At September 30, 2017
	Level 1				Level 2				Level 3				Total
Securities available for sale
Mortgage-backed securities	$	—			$	288,789,000			$	—			$	288,789,000
State and political subdivisions	—				6,842,000				—				6,842,000
Other equity securities	—				3,368,000				—				3,368,000
Total securities available for sale	—				298,999,000				—				298,999,000
Interest rate swap agreements	—				1,592,000				—				1,592,000
Total assets	$	—			$	300,591,000			$	—			$	300,591,000

Assets Measured on Nonrecurring Basis Measured at Fair Value

The following tables include assets measured at fair value on a nonrecurring basis that have had a fair value adjustment since their initial recognition. Other real estate owned is presented net of an allowance of $53,000 at December 31, 2017 and September 30, 2017. There was no allowance at September 30, 2018. Only collateral-dependent impaired loans with a related specific allowance for loan losses or a partial charge off are included in impaired loans for purposes of fair value disclosures. Impaired loans below are presented net of specific allowances of $2,109,000, $1,531,000 and $1,553,000 at September 30, 2018, December 31, 2017, and September 30, 2017, respectively.

	At September 30, 2018
	Level 1				Level 2				Level 3				Total
Other real estate owned	$	—			$	584,000			$	—			$	584,000
Impaired loans	—				7,024,000				—				7,024,000
Total assets	$	—			$	7,608,000			$	—			$	7,608,000

	At December 31, 2017
	Level 1				Level 2				Level 3				Total
Other real estate owned	$	—			$	1,012,000			$	—			$	1,012,000
Impaired loans	—				6,521,000				—				6,521,000
Total assets	$	—			$	7,533,000			$	—			$	7,533,000

	At September 30, 2017
	Level 1				Level 2				Level 3				Total
Other real estate owned	$	—			$	320,000			$	—			$	320,000
Impaired loans	—				7,334,000				—				7,334,000
Total assets	$	—			$	7,654,000			$	—			$	7,654,000

Estimated Fair Value of Financial Instruments

The carrying amount and estimated fair values for financial instruments as of September 30, 2018 were as follows:

	Carrying value				Estimated fair value				Level 1				Level 2				Level 3
Financial assets
Cash and cash equivalents	$	21,649,000			$	21,649,000			$	21,649,000			$	—			$	—
Interest bearing deposits in other banks	51,045,000				51,045,000				51,045,000				—				—
Securities available for sale	305,444,000				305,444,000				—				305,444,000				—
Securities to be held to maturity	257,395,000				249,890,000				—				249,890,000				—
Restricted equity securities	11,586,000				11,586,000				—				11,586,000				—
Loans held for sale	1,134,000				1,134,000				—				1,134,000				—
Loans (net of allowance for loan losses)
Commercial
Real estate	362,199,000				359,421,000				—				423,000				358,998,000
Construction	23,639,000				23,458,000				—				—				23,458,000
Other	183,935,000				184,116,000				—				6,033,000				178,083,000
Municipal	56,677,000				56,981,000				—				—				56,981,000
Residential
Term	458,174,000				459,561,000				—				475,000				459,086,000
Construction	18,124,000				18,095,000				—				—				18,095,000
Home equity line of credit	104,373,000				103,209,000				—				93,000				103,116,000
Consumer	24,755,000				24,126,000				—				—				24,126,000
Total loans	1,231,876,000				1,228,967,000				—				7,024,000				1,221,943,000
Mortgage servicing rights	1,299,000				2,572,000				—				2,572,000				—
Interest rate swap agreements	2,888,000				2,888,000				—				2,888,000				—
Accrued interest receivable	7,095,000				7,095,000				—				7,095,000				—
Financial liabilities
Demand deposits	$	170,728,000			$	169,751,000			$	—			$	169,751,000			$	—
NOW deposits	357,834,000				346,851,000				—				346,851,000				—
Money market deposits	129,516,000				123,865,000				—				123,865,000				—
Savings deposits	237,424,000				216,051,000				—				216,051,000				—
Local certificates of deposit	252,440,000				253,014,000				—				253,014,000				—
National certificates of deposit	366,969,000				368,127,000				—				368,127,000				—
Total deposits	1,514,911,000				1,477,659,000				—				1,477,659,000				—
Repurchase agreements	95,160,000				90,311,000				—				90,311,000				—
Federal Home Loan Bank advances	170,114,000				170,058,000				—				170,058,000				—
Total borrowed funds	265,274,000				260,369,000				—				260,369,000				—
Accrued interest payable	943,000				943,000				—				943,000				—

The carrying amounts and estimated fair values for financial instruments as of December 31, 2017 were as follows:

	Carrying value				Estimated fair value				Level 1				Level 2				Level 3
Financial assets
Cash and cash equivalents	$	19,207,000			$	19,207,000			$	19,207,000			$	—			$	—
Interest bearing deposits in other banks	860,000				860,000				860,000				—				—
Securities available for sale	300,172,000				300,172,000				—				300,172,000				—
Securities to be held to maturity	256,567,000				259,655,000				—				259,655,000				—
Restricted equity securities	10,358,000				10,358,000				—				10,358,000				—
Loans held for sale	386,000				386,000				—				386,000				—
Loans (net of allowance for loan losses)
Commercial
Real estate	319,691,000				311,321,000				—				72,000				311,249,000
Construction	37,594,000				36,610,000				—				—				36,610,000
Other	177,956,000				175,455,000				—				6,018,000				169,437,000
Municipal	33,370,000				33,280,000				—				—				33,280,000
Residential
Term	431,459,000				431,028,000				—				391,000				430,637,000
Construction	17,830,000				17,613,000				—				—				17,613,000
Home equity line of credit	110,566,000				109,012,000				—				40,000				108,972,000
Consumer	24,944,000				24,408,000				—				—				24,408,000
Total loans	1,153,410,000				1,138,727,000				—				6,521,000				1,132,206,000
Mortgage servicing rights	1,268,000				2,321,000				—				2,321,000				—
Interest rate swap agreements	1,955,000				1,955,000				—				1,955,000				—
Accrued interest receivable	5,867,000				5,867,000				—				5,867,000				—
Financial liabilities
Demand deposits	$	145,332,000			$	139,350,000			$	—			$	139,350,000			$	—
NOW deposits	318,043,000				295,775,000				—				295,775,000				—
Money market deposits	163,898,000				153,497,000				—				153,497,000				—
Savings deposits	232,605,000				203,799,000				—				203,799,000				—
Local certificates of deposit	223,074,000				220,734,000				—				220,734,000				—
National certificates of deposit	335,927,000				335,775,000				—				335,775,000				—
Total deposits	1,418,879,000				1,348,930,000				—				1,348,930,000				—
Repurchase agreements	70,564,000				67,976,000				—				67,976,000				—
Federal Home Loan Bank advances	158,194,000				156,396,000				—				156,396,000				—
Total borrowed funds	228,758,000				224,372,000				—				224,372,000				—
Accrued interest payable	642,000				642,000				—				642,000				—

The carrying amount and estimated fair values for financial instruments as of September 30, 2017 were as follows:

	Carrying value				Estimated fair value				Level 1				Level 2				Level 3
Financial assets
Cash and cash equivalents	$	22,375,000			$	22,375,000			$	22,375,000			$	—			$	—
Interest bearing deposits in other banks	584,000				584,000				584,000				—				—
Securities available for sale	298,999,000				298,999,000				—				298,999,000				—
Securities to be held to maturity	242,679,000				245,021,000				—				245,021,000				—
Restricted equity securities	10,798,000				10,798,000				—				10,798,000				—
Loans held for sale	434,000				434,000				—				434,000				—
Loans (net of allowance for loan losses)
Commercial
Real estate	296,888,000				290,475,000				—				351,000				290,124,000
Construction	32,348,000				31,649,000				—				—				31,649,000
Other	169,493,000				167,710,000				—				6,259,000				161,451,000
Municipal	33,289,000				33,466,000				—				—				33,466,000
Residential
Term	428,318,000				431,112,000				—				724,000				430,388,000
Construction	15,461,000				15,307,000				—				—				15,307,000
Home equity line of credit	109,433,000				107,891,000				—				—				107,891,000
Consumer	24,844,000				24,416,000				—				—				24,416,000
Total loans	1,110,074,000				1,102,026,000				—				7,334,000				1,094,692,000
Mortgage servicing rights	1,109,000				1,888,000				—				1,888,000				—
Interest rate swap agreements	1,592,000				1,592,000				—				1,592,000				—
Accrued interest receivable	5,820,000				5,820,000				—				5,820,000				—
Financial liabilities
Demand deposits	$	158,797,000			$	154,034,000			$	—			$	154,034,000			$	—
NOW deposits	325,695,000				306,947,000				—				306,947,000				—
Money market deposits	134,257,000				126,541,000				—				126,541,000				—
Savings deposits	234,456,000				207,813,000				—				207,813,000				—
Local certificates of deposit	220,702,000				220,047,000				—				220,047,000				—
National certificates of deposit	276,142,000				276,078,000				—				276,078,000				—
Total deposits	1,350,049,000				1,291,460,000				—				1,291,460,000				—
Repurchase agreements	75,412,000				72,948,000				—				72,948,000				—
Federal Home Loan Bank advances	158,916,000				158,424,000				—				158,424,000				—
Total borrowed funds	234,328,000				231,372,000				—				231,372,000				—
Accrued interest payable	605,000				605,000				—				605,000				—

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://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=99377789&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=99377789&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=99377789&loc=d3e19207-110258

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

+ 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://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=109250915&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=99377789&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

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

+ Details

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