FAIR VALUE DISCLOSURES (Tables)

12 Months Ended

Dec. 31, 2020

FAIR VALUE DISCLOSURES

Financial assets and financial liabilities measured at fair value on a recurring basis

	December 31,
(Dollars in thousands)	2020		2019
Fair value of financial assets:
Level 1 inputs: securities available for sale - equity securities	$	1,193	$	1,147
Level 2 inputs:
Debt securities available for sale:
State and municipal securities		93,037		53,279
U.S. agency securities:
Collateralized mortgage obligations		35,402		55,989
Mortgage-backed securities		107,649		120,847
Interest rate swaps		8,618		2,638
Credit risk participation agreement		40		—
Total fair value of financial assets	$	245,939	$	233,900
Fair value of financial liabilities:
Level 2 inputs:
Interest rate swaps	$	8,618	$	2,638
Total fair value of financial liabilities	$	8,618	$	2,638

Financial assets measured at fair value on a non-recurring basis are certain impaired loans

	December 31, 2020						December 31, 2019
(Dollars in thousands)	Recorded Investment		Specific ACL		Net		Recorded Investment		Specific ACL		Net
Level 3 inputs:
Loans evaluated individually
Commercial and industrial	$	10,509	$	5,004	$	5,505	$	699	$	416	$	283
Commercial real estate		5,727		323		5,404		—		—		—
1-4 family residential		—		—		—		1,485		15		1,470
Other		1,232		205		1,027		1,242		6		1,236
Total	$	17,468	$	5,532	$	11,936	$	3,426	$	437	$	2,989

Fair market values and carrying amounts of financial instruments that are reported at cost

	December 31, 2020				December 31, 2019
			Carrying				Carrying
(Dollars in thousands)	Fair Value		Amount		Fair Value		Amount
Financial assets:
Level 1 inputs:
Cash and due from banks	$	538,007	$	538,007	$	372,064	$	372,064
Level 2 inputs:
Bank-owned life insurance		72,338		72,338		71,881		71,881
Accrued interest receivable		13,350		13,350		8,742		8,742
Servicing asset		190		190		189		189
Level 3 inputs:
Loans, including held for sale, net		2,919,854		2,886,153		2,654,362		2,615,268
Other investments		18,652		18,652		16,710		16,710
Total financial assets	$	3,562,391	$	3,528,690	$	3,123,948	$	3,084,854
Financial liabilities:
Level 1 inputs:
Noninterest-bearing deposits	$	1,476,425	$	1,476,425	$	1,184,861	$	1,184,861
Level 2 inputs:
Interest-bearing deposits		1,894,558		1,825,369		1,651,359		1,667,527
Federal Home Loan Bank advances		51,726		50,000		48,822		50,000
Repurchase agreements		—		—		485		485
Accrued interest payable		398		398		1,005		1,005
Total financial liabilities	$	3,423,107	$	3,352,192	$	2,886,532	$	2,903,878