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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Measurements

Schedule of assets and liabilities recorded at fair value on a recurring basis


					Fair Value Measurements
					Quoted Prices
					in Active
					Markets for			Other			Significant
					Identical			Observable			Unobservable
					Assets			Inputs			Inputs
(in thousands)		Fair Value			(Level 1)			(Level 2)			(Level 3)
March 31, 2021
Assets:
U.S. Treasury		$	3,041		$	3,041			—		$	—
U.S. government and federal agency obligations			19,829			—			19,829			—
U.S. government-sponsored enterprises			22,551			—			22,551			—
Obligations of states and political subdivisions			70,818			—			70,818			—
Mortgage-backed securities			108,644			—			108,644			—
Other debt securities			12,023			—			12,023			—
Bank-issued trust preferred securities			1,236			—			1,236			—
Equity securities			45			45			—			—
Mortgage servicing rights			2,494			—			—			2,494
Total		$	240,681		$	3,086		$	235,101		$	2,494

December 31, 2020
Assets:
U.S. Treasury		$	2,798		$	2,798			—		$	—
U.S. government and federal agency obligations			11,929			—			11,929			—
U.S. government-sponsored enterprises			22,874			—			22,874			—
Obligations of states and political subdivisions			58,744			—			58,744			—
Mortgage-backed securities			90,112			—			90,112			—
Other debt securities			10,344			—			10,344			—
Bank-issued trust preferred securities			1,229			—			1,229			—
Equity securities			32			32			—			—
Mortgage servicing rights			2,445			—			—			2,445
Total		$	200,507		$	2,830		$	195,232		$	2,445

Schedule of summary of changes in Level 3 assets and liabilities measured at fair value on a recurring basis


		Fair Value Measurements Using
		(Level 3)
		Mortgage Servicing Rights
		Three Months Ended March 31,
(in thousands)		2021			2020
Balance at beginning of period		$	2,445		$	2,482
Total (losses) or gains (realized/unrealized):
Included in earnings			(121)			(275)
Included in other comprehensive income			—			—
Purchases			—			—
Sales			—			—
Issues			170			67
Settlements			—			—
Balance at end of period		$	2,494		$	2,274

Schedule of valuation methods for instruments measured at fair value on a nonrecurring basis


					Fair Value Measurements Using
					Quoted Prices
					in Active
					Markets for			Other			Significant
					Identical			Observable			Unobservable
		Total			Assets			Inputs			Inputs			Total Gains
(in thousands)		Fair Value			(Level 1)			(Level 2)			(Level 3)			(Losses)*
March 31, 2021
Assets:
Collateral dependent impaired loans:
Commercial, financial, & agricultural		$	4,188		$	—		$	—		$	4,188		$	—
Real estate mortgage - residential			403			—			—			403			—
Real estate mortgage - commercial			22,484			—			—			22,484			(23)
Total		$	27,075		$	—		$	—		$	27,075		$	(23)
Other real estate and repossessed assets		$	12,140		$	—		$	—		$	12,140		$	(73)

March 31, 2020
Assets:
Collateral dependent impaired loans:
Commercial, financial, & agricultural		$	2,422		$	—		$	—		$	2,422		$	—
Real estate construction - commercial			408			—			—			408			—
Real estate mortgage - residential			1,921			—			—			1,921			(19)
Real estate mortgage - commercial			827			—			—			827			(22)
Installment and other consumer			12			—			—			12			(14)
Total		$	5,590		$	—		$	—		$	5,590		$	(55)
Other real estate and repossessed assets		$	12,769		$	—		$	—		$	12,769		$	(12)

*	Total losses reported for other real estate and foreclosed assets includes charge-offs, valuation write downs, and net losses taken during the periods reported.