5.	Fair Value of Financial Instruments

U.S. GAAP requires disclosure of fair value information about financial instruments, whether or not recognized on the balance sheet, for which it is practical to estimate. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies pursuant to ASC 820, Fair Value Measurements. The use of assumptions and various valuation techniques, as well as the absence of secondary markets for certain financial instruments, will likely reduce the comparability of fair value disclosures between financial institutions. In some cases, book value is a reasonable estimate of fair value due to the relatively short period of time between origination of the instrument and its expected realization.

The following tables summarize the book value and estimated fair value of financial instruments for the periods indicated:

			Fair Value of Financial Instruments Using
March 31, 2019 (in thousands)	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Estimated Fair Value
Assets:
Cash and Cash Equivalents	$	97,810	$	97,810	$	-	$	-	$	97,810

Investment Securities Available-for-Sale		491,289		164,877		321,769		4,643		491,289

Investment Securities Held-to-Maturity		54,412		-		36,705		18,276		54,981

Loans & Leases, Net of Deferred Fees & Allowance		2,509,061		-		-		2,490,197		2,490,197
Accrued Interest Receivable		12,524		-		12,524		-		12,524

Liabilities:
Deposits		3,008,040		2,483,258		521,321		-		3,004,579
Subordinated Debentures		10,310		-		7,600		-		7,600
Accrued Interest Payable		2,193		-		2,193		-		2,193

			Fair Value of Financial Instruments Using
December 31, 2018 (in thousands)	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Estimated Fair Value
Assets:
Cash and Cash Equivalents	$	145,564	$	145,564	$	-	$	-	$	145,564

Investment Securities Available-for-Sale		495,396		164,716		325,841		4,839		495,396

Investment Securities Held-to-Maturity		53,566		-		35,083		18,655		53,738

Loans & Leases, Net of Deferred Fees & Allowance		2,515,975		-		-		2,485,182		2,485,182
Accrued Interest Receivable		14,098		-		14,098		-		14,098

Liabilities:
Deposits		3,062,832		2,572,805		485,766		-		3,058,571
Subordinated Debentures		10,310		-		7,745		-		7,745
Accrued Interest Payable		1,365		-		1,365		-		1,365

			Fair Value of Financial Instruments Using
March 31, 2018 (in thousands)	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Estimated Fair Value
Assets:
Cash and Cash Equivalents	$	134,984	$	134,984	$	-	$	-	$	134,984

Investment Securities Available-for-Sale		495,814		143,609		349,705		2,500		495,814

Investment Securities Held-to-Maturity		53,527		-		37,028		16,717		53,745

Loans & Leases, Net of Deferred Fees & Allowance		2,184,406		-		-		2,152,504		2,152,504
Accrued Interest Receivable		9,237		-		9,237		-		9,237

Liabilities:
Deposits		2,701,405		2,218,642		478,846		-		2,697,488
Subordinated Debentures		10,310		-		7,751		-		7,751
Accrued Interest Payable		909		-		909		-		909