Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value, Assets Measured on Recurring Basis

The following table summarizes financial assets measured at fair value on a recurring basis as of December 31, 2018 and 2017, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:



(in thousands)	December 31, 2018		December 31, 2017
Available for Sale Securities Fair Value Measurements Using:
Level 1: Quoted Prices in Active Markets For Identical Assets	$	483	$	19,980
Level 2: Significant Other Observable Inputs	291,733		355,022
Level 3: Significant Unobservable Inputs	4,761		6,533
Securities available for sale measured at fair value	$	296,977	$	381,535

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

The following table reconciles assets measured at fair value on a recurring basis using unobservable inputs ( Level 3):



	Level 3 Changes
(in thousands)	December 31, 2018			December 31, 2017
Balance, beginning of year	$	6,533		$	19,400
Total gains or losses (realized/unrealized):
Included in earnings	(15		)	54
Included in other comprehensive income	(79		)	—
Purchases, sales, issuances and settlements, net	(1,886		)	10,574
Transfers in and/or out of Level 3	208			(23,495		)
Balance as of end of year	$	4,761		$	6,533

Fair Value Measurements, Nonrecurring

The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of December 31, 2018, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value:



(in thousands)	At December 31, 2018		At December 31, 2017
Fair Value Measurements Using: Impaired Loans
Level 1: Quoted Prices in Active Markets For Identical Assets	$	—	$	—
Level 2: Significant Other Observable Inputs	—		—
Level 3: Significant Unobservable Inputs	3,620		12,003
Impaired loans measured at fair value	$	3,620	$	12,003

Fair Value Measurements Using: Other Real Estate Owned
Level 1: Quoted Prices in Active Markets For Identical Assets	$	—	$	—
Level 2: Significant Other Observable Inputs	1,012		1,249
Level 3: Significant Unobservable Inputs	126		32
Other real estate owned measured at fair value	$	1,138	$	1,281