XML 29 R36.htm IDEA: XBRL DOCUMENT
v3.20.1

Fair Value (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2020
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured on Recurring Basis Measured at Fair Value | The following tables present the balances of assets and liabilities that were measured at fair value on a recurring basis as of March 31, 2020, December 31, 2019 and March 31, 2019.
| At March 31, 2020
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Securities available for sale |  |  |  |  |  |  |
U.S. Government-sponsored agencies | $ | — |  |  | $ | 7,552,000 |  |  | $ | — |  |  | $ | 7,552,000 |
Mortgage-backed securities | — |  |  | 285,152,000 |  |  | — |  |  | 285,152,000 |
State and political subdivisions | — |  |  | 20,224,000 |  |  | — |  |  | 20,224,000 |
Total securities available for sale | — |  |  | 312,928,000 |  |  | — |  |  | 312,928,000 |
Customer loan interest swap agreements | — |  |  | 3,280,000 |  |  | — |  |  | 3,280,000 |
Total interest rate swap agreements | $ | — |  |  | $ | 3,280,000 |  |  | $ | — |  |  | $ | 3,280,000 |
Total assets | $ | — |  |  | $ | 316,208,000 |  |  | $ | — |  |  | $ | 316,208,000 |
| At March 31, 2020
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Interest rate swap agreements | $ | — |  |  | $ | 9,322,000 |  |  | $ | — |  |  | $ | 9,322,000 |
Total liabilities | $ | — |  |  | $ | 9,322,000 |  |  | $ | — |  |  | $ | 9,322,000 |
| At December 31, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Securities available for sale |  |  |  |  |  |  |
U.S. Government-sponsored agencies | $ | — |  |  | $ | 7,398,000 |  |  | $ | — |  |  | $ | 7,398,000 |
Mortgage-backed securities | — |  |  | 326,617,000 |  |  | — |  |  | 326,617,000 |
State and political subdivisions | — |  |  | 26,505,000 |  |  | — |  |  | 26,505,000 |
Total securities available for sale | — |  |  | 360,520,000 |  |  | — |  |  | 360,520,000 |
Interest rate swap agreements | — |  |  | 562,000 |  |  | — |  |  | 562,000 |
Customer loan interest swap agreements | — |  |  | 1,205,000 |  |  |  |  | 1,205,000 |
Total interest rate swap agreements |  |  | 1,767,000 |  |  |  |  | 1,767,000 |
Total assets | $ | — |  |  | $ | 362,287,000 |  |  | $ | — |  |  | $ | 362,287,000 |
| At December 31, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Interest rate swap agreements | $ | — |  |  | $ | 439,000 |  |  | $ | — |  |  | $ | 439,000 |
Customer loan interest swap agreements |  |  | $ | 1,205,000 |  |  |  |  | $ | 1,205,000 |
Total liabilities | $ | — |  |  | $ | 1,644,000 |  |  | $ | — |  |  | $ | 1,644,000 |
| At March 31, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Securities available for sale |  |  |  |  |  |  |
U.S. Treasury and agency | $ | — |  |  | $ | 5,016,000 |  |  | $ | — |  |  | $ | 5,016,000 |
Mortgage-backed securities | — |  |  | 315,423,000 |  |  | — |  |  | 315,423,000 |
State and political subdivisions | — |  |  | 4,837,000 |  |  | — |  |  | 4,837,000 |
Total securities available for sale | — |  |  | 325,276,000 |  |  | — |  |  | 325,276,000 |
Interest rate swap agreements | — |  |  | 1,433,000 |  |  | — |  |  | 1,433,000 |
Total assets | $ | — |  |  | $ | 326,709,000 |  |  | $ | — |  |  | $ | 326,709,000 |
| At March 31, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Interest rate swap agreements | $ | — |  |  | $ | 201,000 |  |  | $ | — |  |  | $ | 201,000 |
Total liabilities | $ | — |  |  | $ | 201,000 |  |  | $ | — |  |  | $ | 201,000 |
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 $0 at March 31, 2020, 2019 and December 31, 2019. 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 $706,000, $1,916,000 and $1,822,000 at March 31, 2020, December 31, 2019, and March 31, 2019, respectively.
| At March 31, 2020
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Other real estate owned | $ | — |  |  | $ | 316,000 |  |  | $ | — |  |  | $ | 316,000 |
Impaired loans | — |  |  | 1,051,000 |  |  | — |  |  | 1,051,000 |
Total assets | $ | — |  |  | $ | 1,367,000 |  |  | $ | — |  |  | $ | 1,367,000 |
| At December 31, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Other real estate owned | $ | — |  |  | $ | 279,000 |  |  | $ | — |  |  | $ | 279,000 |
Impaired loans | — |  |  | 6,579,000 |  |  | — |  |  | 6,579,000 |
Total assets | $ | — |  |  | $ | 6,858,000 |  |  | $ | — |  |  | $ | 6,858,000 |
| At March 31, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Other real estate owned | $ | — |  |  | $ | 584,000 |  |  | $ | — |  |  | $ | 584,000 |
Impaired loans | — |  |  | 6,519,000 |  |  | — |  |  | 6,519,000 |
Total assets | $ | — |  |  | $ | 7,103,000 |  |  | $ | — |  |  | $ | 7,103,000 |
Estimated Fair Value of Financial Instruments | The carrying amount and estimated fair values for financial instruments as of March 31, 2020 were as follows:
| Carrying value |  | Estimated fair value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets |  |  |  |  |  |  |  |  |
Securities to be held to maturity | $ | 341,592,000 |  |  | $ | 349,248,000 |  |  | $ | — |  |  | $ | 349,248,000 |  |  | $ | — |
Loans (net of allowance for loan losses) |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |
Real estate | 378,049,000 |  |  | 371,916,000 |  |  | — |  |  | 7,000 |  |  | 371,909,000 |
Construction | 43,397,000 |  |  | 42,693,000 |  |  | — |  |  | — |  |  | 42,693,000 |
Other | 234,940,000 |  |  | 233,411,000 |  |  | — |  |  | — |  |  | 233,411,000 |
Municipal | 43,502,000 |  |  | 41,909,000 |  |  | — |  |  | — |  |  | 41,909,000 |
Residential |  |  |  |  |  |  |  |  |
Term | 499,478,000 |  |  | 503,098,000 |  |  | — |  |  | 335,000 |  |  | 502,763,000 |
Construction | 15,163,000 |  |  | 15,304,000 |  |  | — |  |  | — |  |  | 15,304,000 |
Home equity line of credit | 89,442,000 |  |  | 89,407,000 |  |  | — |  |  | 700,000 |  |  | 88,707,000 |
Consumer | 28,379,000 |  |  | 26,933,000 |  |  | — |  |  | 9,000 |  |  | 26,924,000 |
Total loans | 1,332,350,000 |  |  | 1,324,671,000 |  |  | — |  |  | 1,051,000 |  |  | 1,323,620,000 |
Mortgage servicing rights | 1,609,000 |  |  | 2,126,000 |  |  | — |  |  | 2,126,000 |  |  | — |
Financial liabilities |  |  |  |  |  |  |  |  |
Local certificates of deposit | $ | 290,440,000 |  |  | $ | 290,886,000 |  |  | $ | — |  |  | $ | 290,886,000 |  |  | $ | — |
National certificates of deposit | 420,498,000 |  |  | 429,110,000 |  |  | — |  |  | 429,110,000 |  |  | — |
Total certificates of deposits | 710,938,000 |  |  | 719,996,000 |  |  | — |  |  | 719,996,000 |  |  | — |
Repurchase agreements | 37,937,000 |  |  | 37,494,000 |  |  | — |  |  | 37,494,000 |  |  | — |
Federal Home Loan Bank advances | 210,103,000 |  |  | 211,228,000 |  |  | — |  |  | 211,228,000 |  |  | — |
Total borrowed funds | 248,040,000 |  |  | 248,722,000 |  |  | — |  |  | 248,722,000 |  |  | — |
The carrying amounts and estimated fair values for financial instruments as of December 31, 2019 were as follows:
| Carrying value |  | Estimated fair value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets |  |  |  |  |  |  |  |  |
Securities to be held to maturity | $ | 281,606,000 |  |  | $ | 287,045,000 |  |  | $ | — |  |  | $ | 287,045,000 |  |  | $ | — |
Loans (net of allowance for loan losses) |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |
Real estate | 368,645,000 |  |  | 364,626,000 |  |  | — |  |  | 2,000 |  |  | 364,624,000 |
Construction | 37,678,000 |  |  | 37,366,000 |  |  | — |  |  | — |  |  | 37,366,000 |
Other | 215,068,000 |  |  | 212,548,000 |  |  | — |  |  | 5,046,000 |  |  | 207,502,000 |
Municipal | 41,258,000 |  |  | 40,552,000 |  |  | — |  |  | — |  |  | 40,552,000 |
Residential |  |  |  |  |  |  |  |  |
Term | 491,315,000 |  |  | 491,359,000 |  |  | — |  |  | 577,000 |  |  | 490,782,000 |
Construction | 14,785,000 |  |  | 14,786,000 |  |  | — |  |  | — |  |  | 14,786,000 |
Home equity line of credit | 91,149,000 |  |  | 90,959,000 |  |  | — |  |  | 954,000 |  |  | 90,005,000 |
Consumer | 25,538,000 |  |  | 23,489,000 |  |  | — |  |  | — |  |  | 23,489,000 |
Total loans | 1,285,436,000 |  |  | 1,275,685,000 |  |  | — |  |  | 6,579,000 |  |  | 1,269,106,000 |
Mortgage servicing rights | 1,546,000 |  |  | 2,089,000 |  |  | — |  |  | 2,089,000 |  |  | — |
Financial liabilities |  |  |  |  |  |  |  |  |
Local certificates of deposit | $ | 285,602,000 |  |  | $ | 281,480,000 |  |  | $ | — |  |  | $ | 281,480,000 |  |  | $ | — |
National certificates of deposit | 404,377,000 |  |  | 412,337,000 |  |  | — |  |  | 412,337,000 |  |  | — |
Total deposits | 689,979,000 |  |  | 693,817,000 |  |  | — |  |  | 693,817,000 |  |  | — |
Repurchase agreements | 37,450,000 |  |  | 37,450,000 |  |  | — |  |  | 37,450,000 |  |  | — |
Federal Home Loan Bank advances | 147,505,000 |  |  | 140,063,000 |  |  | — |  |  | 140,063,000 |  |  | — |
Total borrowed funds | 184,955,000 |  |  | 177,513,000 |  |  | — |  |  | 177,513,000 |  |  | — |
The carrying amount and estimated fair values for financial instruments as of March 31, 2019 were as follows:
| Carrying value |  | Estimated fair value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets |  |  |  |  |  |  |  |  |
Securities to be held to maturity | $ | 281,219,000 |  |  | $ | 282,568,000 |  |  | $ | — |  |  | $ | 282,568,000 |  |  | $ | — |
Loans (net of allowance for loan losses) |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |
Real estate | 353,521,000 |  |  | 347,398,000 |  |  | — |  |  | 422,000 |  |  | 346,976,000 |
Construction | 33,852,000 |  |  | 33,266,000 |  |  | — |  |  | — |  |  | 33,266,000 |
Other | 201,459,000 |  |  | 199,700,000 |  |  | — |  |  | 5,458,000 |  |  | 194,242,000 |
Municipal | 54,217,000 |  |  | 53,179,000 |  |  | — |  |  | — |  |  | 53,179,000 |
Residential |  |  |  |  |  |  |  |  |
Term | 472,941,000 |  |  | 463,150,000 |  |  | — |  |  | 625,000 |  |  | 462,525,000 |
Construction | 18,415,000 |  |  | 18,034,000 |  |  | — |  |  | — |  |  | 18,034,000 |
Home equity line of credit | 94,957,000 |  |  | 92,834,000 |  |  | — |  |  | 14,000 |  |  | 92,820,000 |
Consumer | 23,787,000 |  |  | 22,124,000 |  |  | — |  |  | — |  |  | 22,124,000 |
Total loans | 1,253,149,000 |  |  | 1,229,685,000 |  |  | — |  |  | 6,519,000 |  |  | 1,223,166,000 |
Mortgage servicing rights | 1,356,000 |  |  | 2,410,000 |  |  | — |  |  | 2,410,000 |  |  | — |
Financial liabilities |  |  |  |  |  |  |  |  |
Local certificates of deposit | 293,980,000 |  |  | 293,325,000 |  |  | — |  |  | 293,325,000 |  |  | — |
National certificates of deposit | 418,496,000 |  |  | 419,285,000 |  |  | — |  |  | 419,285,000 |  |  | — |
Total certificates of deposits | 712,476,000 |  |  | 712,610,000 |  |  | — |  |  | 712,610,000 |  |  | — |
Repurchase agreements | 30,309,000 |  |  | 30,276,000 |  |  | — |  |  | 30,276,000 |  |  | — |
Federal Home Loan Bank advances | 140,110,000 |  |  | 139,565,000 |  |  | — |  |  | 139,565,000 |  |  | — |
Total borrowed funds | 170,419,000 |  |  | 169,841,000 |  |  | — |  |  | 169,841,000 |  |  | — |

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=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
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=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

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/disclosureRef -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://www.xbrl.org/2003/role/disclosureRef -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_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration