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Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following tables present the fair value measurements of assets and liabilities recognized in the accompanying condensed consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2018 and December 31, 2017.

						September 30, 2018 Fair Value Measurements Using
		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
U.S. Government-sponsored agencies		$	112,760			$	—			$	112,760			$	—
Municipal securities		91,080				—				91,080				—
Mortgage-backed securities		225,692				—				225,692				—
Asset-backed securities		4,960				—				4,960				—
Corporate securities		34,505				—				34,505				—
Total available-for-sale securities		468,997				—				468,997				—
Loans held-for-sale (mandatory pricing agreements)		23,493				—				23,493				—
Interest rate swap assets		8,032				—				8,032				—
Interest rate swap liabilities		(72		)		—				(72		)		—
Forward contracts		127				127				—				—
IRLCs		383				—				—				383

						December 31, 2017 Fair Value Measurements Using
		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
U.S. Government-sponsored agencies		$	133,190			$	—			$	133,190			$	—
Municipal securities		96,377				—				96,377				—
Mortgage-backed securities		209,720				—				209,720				—
Asset-backed securities		5,009				—				5,009				—
Corporate securities		26,047				—				26,047				—
Other securities		2,932				2,932				—				—
Total available-for-sale securities		473,275				2,932				470,343				—
Loans held-for-sale (mandatory pricing agreements)		23,571				—				23,571				—
Interest rate swaps		(271		)		—				(271		)		—
Forward contracts		(80		)		(80		)		—				—
IRLCs		551				—				—				551

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following tables reconcile the beginning and ending balances of recurring fair value measurements recognized in the accompanying condensed consolidated balance sheets using significant unobservable (Level 3) inputs for the three and nine months ended September 30, 2018 and 2017.

		Three Months Ended
		Interest Rate Lock Commitments
Balance, July 1, 2018		$	724
Total realized losses
Included in net income		(341		)
Balance, September 30, 2018		$	383
Balance, July 1, 2017		$	652
Total realized gains
Included in net income		135
Balance, September 30, 2017		$	787

		Nine Months Ended
		Interest Rate Lock Commitments
Balance, January 1, 2018		$	551
Total realized losses
Included in net income		(168		)
Balance, September 30, 2018		$	383
Balance, January 1, 2017		$	610
Total realized gains
Included in net income		177
Balance, September 30, 2017		$	787

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

The following tables present quantitative information about significant unobservable inputs used in recurring and Level 3 fair value measurements other than goodwill.

		Fair Value at September 30, 2018				Valuation Technique		Significant Unobservable Inputs		Range
IRLCs		$	383			Discounted cash flow		Loan closing rates		38% - 100%

		Fair Value at December 31, 2017				Valuation Technique		Significant Unobservable Inputs		Range
IRLCs		$	551			Discounted cash flow		Loan closing rates		39% - 100%

Fair Value, by Balance Sheet Grouping

The following tables present the carrying value and estimated fair value of all financial assets and liabilities at September 30, 2018 and December 31, 2017.

		September 30, 2018 Fair Value Measurements Using
		Carrying Amount				Fair Value				Quoted Prices In Active Market for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Cash and cash equivalents		$	85,790			$	85,790			$	85,790			$	—			$	—
Securities held-to-maturity		20,200				19,510				—				19,510				—
Net loans		2,476,918				2,347,403				—				—				2,347,403
Accrued interest receivable		14,472				14,472				14,472				—				—
Federal Home Loan Bank of Indianapolis stock		22,050				22,050				—				22,050				—
Deposits		2,446,564				2,423,037				663,012				—				1,760,025
Advances from Federal Home Loan Bank		425,160				414,668				—				414,668				—
Subordinated debt		33,837				35,877				25,630				10,247				—
Accrued interest payable		887				887				887				—				—

		December 31, 2017 Fair Value Measurements Using
		Carrying Amount				Fair Value				Quoted Prices In Active Market for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Cash and cash equivalents		$	47,981			$	47,981			$	47,981			$	—			$	—
Securities held-to-maturity		19,209				19,083				—				19,083				—
Loans held-for-sale (best efforts pricing agreements)		27,836				27,836				—				27,836				—
Net loans		2,076,223				2,036,575				—				—				2,036,575
Accrued interest receivable		11,944				11,944				11,944				—				—
Federal Home Loan Bank of Indianapolis stock		19,575				19,575				—				19,575				—
Deposits		2,084,941				2,057,708				688,800				—				1,368,908
Advances from Federal Home Loan Bank		410,176				397,950				—				397,950				—
Subordinated debt		36,726				39,972				26,520				13,452				—
Accrued interest payable		311				311				311				—				—

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- Definition

Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis.

+ References

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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).

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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