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Fair Value (Tables) | 9 Months Ended
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Sep. 30, 2018
Fair Value Disclosures [Abstract] |
Quantitative information about assets measured utilizing Level 3 fair value measurement | The following tables list the quantitative fair value information about impaired loans as of:
| September 30, 2018
Valuation Technique | Fair Value | Unobservable Input |  | Actual Range
|  | Discount applied to collateral: |  |
|  | Real Estate |  | 20% - 30%
|  | Equipment |  | 20% - 40%
|  | Cash crop inventory |  | 30% - 40%
Discounted value | $29,280 | Livestock |  | 30%
|  | Other inventory |  | 50% - 75%
|  | Accounts receivable |  | 25% - 50%
|  | Liquor license |  | 75%
|  | Furniture, fixtures & equipment |  | 35% - 45%
| December 31, 2017
Valuation Technique | Fair Value | Unobservable Input |  | Actual Range
|  | Discount applied to collateral: |  |
|  | Real Estate |  | 20% - 30%
|  | Equipment |  | 20% - 35%
|  | Cash crop inventory |  | 30% - 40%
Discounted value | $15,956 | Livestock |  | 30%
|  | Other inventory |  | 50% - 75%
|  | Accounts receivable |  | 50%
|  | Liquor license |  | 75%
|  | Furniture, fixtures & equipment |  | 35% - 45%
Carrying amount and estimated fair value of financial instruments not recorded at fair value | The carrying amount and estimated fair value of financial instruments not recorded at fair value in their entirety on a recurring basis were as follows as of:
| September 30, 2018
| Carrying Value |  | Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 48,552 |  |  | $ | 48,552 |  |  | $ | 48,552 |  |  | $ | — |  |  | $ | — |
Mortgage loans AFS | 2,811 |  |  | 2,837 |  |  | — |  |  | 2,837 |  |  | — |
Gross loans | 1,139,930 |  |  | 1,110,857 |  |  | — |  |  | — |  |  | 1,110,857 |
Less allowance for loan and lease losses | 8,100 |  |  | 8,100 |  |  | — |  |  | — |  |  | 8,100 |
Net loans | 1,131,830 |  |  | 1,102,757 |  |  | — |  |  | — |  |  | 1,102,757 |
Accrued interest receivable | 7,669 |  |  | 7,669 |  |  | 7,669 |  |  | — |  |  | — |
Equity securities without readily determinable fair values (1) | 24,948 |  |  | N/A |  |  | — |  |  | — |  |  | — |
OMSR | 2,403 |  |  | 2,447 |  |  | — |  |  | 2,447 |  |  | — |
LIABILITIES |  |  |  |  |  |  |  |  |
Deposits without stated maturities | 824,518 |  |  | 824,518 |  |  | 824,518 |  |  | — |  |  | — |
Deposits with stated maturities | 452,288 |  |  | 440,576 |  |  | — |  |  | 440,576 |  |  | — |
Borrowed funds | 359,776 |  |  | 354,615 |  |  | — |  |  | 354,615 |  |  | — |
Accrued interest payable | 804 |  |  | 804 |  |  | 804 |  |  | — |  |  | — |
| December 31, 2017
| Carrying Value |  | Estimated Fair Value |  | Level 1 |  | Level 2 |  | Level 3
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 30,848 |  |  | $ | 30,848 |  |  | $ | 30,848 |  |  | $ | — |  |  | $ | — |
Mortgage loans AFS | 1,560 |  |  | 1,587 |  |  | — |  |  | 1,587 |  |  | — |
Gross loans | 1,091,519 |  |  | 1,056,906 |  |  | — |  |  | — |  |  | 1,056,906 |
Less allowance for loan and lease losses | 7,700 |  |  | 7,700 |  |  | — |  |  | — |  |  | 7,700 |
Net loans | 1,083,819 |  |  | 1,049,206 |  |  | — |  |  | — |  |  | 1,049,206 |
Accrued interest receivable | 7,063 |  |  | 7,063 |  |  | 7,063 |  |  | — |  |  | — |
Equity securities without readily determinable fair values (1) | 23,454 |  |  | N/A |  |  | — |  |  | — |  |  | — |
OMSR | 2,409 |  |  | 2,409 |  |  | — |  |  | 2,409 |  |  | — |
LIABILITIES |  |  |  |  |  |  |  |  |
Deposits without stated maturities | 811,992 |  |  | 811,992 |  |  | 811,992 |  |  | — |  |  | — |
Deposits with stated maturities | 453,266 |  |  | 443,892 |  |  | — |  |  | 443,892 |  |  | — |
Borrowed funds | 344,878 |  |  | 342,089 |  |  | — |  |  | 342,089 |  |  | — |
Accrued interest payable | 680 |  |  | 680 |  |  | 680 |  |  | — |  |  | — |
(1) | Due to the characteristics of equity securities without readily determinable fair values, they are not disclosed under a specific fair value hierarchy. If we were to record an impairment adjustment related to these securities, such amount would be classified as a nonrecurring Level 3 fair value adjustment.
Assets and liabilities measured at fair value | The table below presents the recorded amount of assets and liabilities measured at fair value on:
| September 30, 2018 |  | December 31, 2017
| Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Recurring items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AFS securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises | $ | 180 |  |  | $ | — |  |  | $ | 180 |  |  | $ | — |  |  | $ | 216 |  |  | $ | — |  |  | $ | 216 |  |  | $ | — |
States and political subdivisions | 193,957 |  |  | — |  |  | 193,957 |  |  | — |  |  | 208,474 |  |  | — |  |  | 208,474 |  |  | — |
Auction rate money market preferred | 3,108 |  |  | — |  |  | 3,108 |  |  | — |  |  | 3,049 |  |  | — |  |  | 3,049 |  |  | — |
Mortgage-backed securities | 188,136 |  |  | — |  |  | 188,136 |  |  | — |  |  | 208,797 |  |  | — |  |  | 208,797 |  |  | — |
Collateralized mortgage obligations | 115,758 |  |  | — |  |  | 115,758 |  |  | — |  |  | 128,194 |  |  | — |  |  | 128,194 |  |  | — |
Total AFS securities | 501,139 |  |  | — |  |  | 501,139 |  |  | — |  |  | 548,730 |  |  | — |  |  | 548,730 |  |  | — |
Equity securities | — |  |  | — |  |  | — |  |  | — |  |  | 3,577 |  |  | 3,577 |  |  | — |  |  | — |
Derivative instruments | 451 |  |  | — |  |  | 451 |  |  | — |  |  | 291 |  |  | — |  |  | 291 |  |  | — |
Nonrecurring items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans (net of the ALLL) | 29,280 |  |  | — |  |  | — |  |  | 29,280 |  |  | 15,956 |  |  | — |  |  | — |  |  | 15,956 |
Total | $ | 530,870 |  |  | $ | — |  |  | $ | 501,590 |  |  | $ | 29,280 |  |  | $ | 568,554 |  |  | $ | 3,577 |  |  | $ | 549,021 |  |  | $ | 15,956 |
Percent of assets and liabilities measured at fair value |  |  | — | % |  | 94.48 | % |  | 5.52 | % |  |  |  | 0.63 | % |  | 96.56 | % |  | 2.81 | %

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- 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=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 3 -URI http://asc.fasb.org/extlink&oid=99377789&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=99377789&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 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 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 (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 6: 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=99377789&loc=d3e19207-110258 + Details
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