Fair Value of Financial Instruments (Tables)
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9 Months Ended |
Sep. 30, 2017 |
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| Fair Value Disclosures [Abstract] |
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| 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, 2017 and December 31, 2016. | | | | | | | | | | | | | | | | | | | | | | September 30, 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 | | $ | 138,499 |
| | $ | — |
| | $ | 138,499 |
| | $ | — |
| Municipal securities | | 95,435 |
| | — |
| | 95,435 |
| | — |
| Mortgage-backed securities | | 219,579 |
| | — |
| | 219,579 |
| | — |
| Asset-backed securities | | 10,000 |
| | — |
| | 10,000 |
| | — |
| Corporate securities | | 26,004 |
| | — |
| | 26,004 |
| | — |
| Other securities | | 2,951 |
| | 2,951 |
| | — |
| | — |
| Total available-for-sale securities | | 492,468 |
| | 2,951 |
| | 489,517 |
| | — |
| Loans held-for-sale (mandatory pricing agreements) | | 18,660 |
| | — |
| | 18,660 |
| | — |
| Forward contracts | | 172 |
| | 172 |
| | — |
| | — |
| IRLCs | | 787 |
| | — |
| | — |
| | 787 |
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| | | | | | | | | | | | | | | | | | | | | | December 31, 2016 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 | | $ | 91,896 |
| | $ | — |
| | $ | 91,896 |
| | $ | — |
| Municipal securities | | 91,886 |
| | — |
| | 91,886 |
| | — |
| Mortgage-backed securities | | 231,641 |
| | — |
| | 231,641 |
| | — |
| Asset-backed securities | | 19,534 |
| | — |
| | 19,534 |
| | — |
| Corporate securities | | 18,811 |
| | — |
| | 18,811 |
| | — |
| Other securities | | 2,932 |
| | 2,932 |
| | — |
| | — |
| Total available-for-sale securities | | 456,700 |
| | 2,932 |
| | 453,768 |
| | — |
| Loans held-for-sale (mandatory pricing agreements) | | 27,101 |
| | — |
| | 27,101 |
| | — |
| Forward contracts | | 438 |
| | 438 |
| | — |
| | — |
| IRLCs | | 610 |
| | — |
| | — |
| | 610 |
|
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| 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, 2017 and September 30, 2016. | | | | | | | | Three Months Ended | | | Interest Rate Lock Commitments | Balance, July 1, 2017 | | $ | 652 |
| Total realized gains | | | Included in net income | | 135 |
| Balance, September 30, 2017 | | $ | 787 |
| | | | Balance, July 1, 2016 | | $ | 1,724 |
| Total realized gains | | | Included in net income | | 308 |
| Balance, September 30, 2016 | | $ | 2,032 |
|
| | | | | | | | Nine Months Ended | | | Interest Rate Lock Commitments | Balance, January 1, 2017 | | $ | 610 |
| Total realized gains | | |
| Included in net income | | 177 |
| Balance, September 30, 2017 | | $ | 787 |
|
| | | Balance, January 1, 2016 | | $ | 582 |
| Total realized gains | | | Included in net income | | 1,450 |
| Balance, September 30, 2016 | | $ | 2,032 |
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| Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques |
The following tables present quantitative information about significant unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill. | | | | | | | | | | | | | | Fair Value at
September 30, 2017 | | Valuation Technique | | Significant Unobservable Inputs | | Range | IRLCs | | $ | 787 |
| | Discounted cash flow | | Loan closing rates | | 43% - 100% | OREO | | $ | 648 |
| | Appraisal value | | Marketability discount | | 24% |
| | | | | | | | | | | | | | Fair Value at
December 31, 2016 | | Valuation Technique | | Significant Unobservable Inputs | | Range | IRLCs | | $ | 610 |
| | Discounted cash flow | | Loan closing rates | | 43% - 99% |
|
| 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, 2017 and December 31, 2016. | | | | | | | | | | | | | | | | | | | | | | | | September 30, 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 | | $ | 125,704 |
| | $ | 125,704 |
| | $ | 125,704 |
| | $ | — |
| | $ | — |
| Securities held-to-maturity | | 19,212 |
| | 19,071 |
| | — |
| | 19,071 |
| | — |
| Loans held-for-sale (best efforts pricing agreements) | | 26,827 |
| | 26,827 |
| | — |
| | 26,827 |
| | — |
| Net loans | | 1,854,400 |
| | 1,861,646 |
| | — |
| | — |
| | 1,861,646 |
| Accrued interest receivable | | 9,366 |
| | 9,366 |
| | 9,366 |
| | — |
| | — |
| Federal Home Loan Bank of Indianapolis stock | | 19,575 |
| | 19,575 |
| | — |
| | 19,575 |
| | — |
| Deposits | | 1,997,028 |
| | 1,980,211 |
| | 672,555 |
| | — |
| | 1,307,656 |
| Advances from Federal Home Loan Bank | | 365,180 |
| | 349,650 |
| | — |
| | 349,650 |
| | — |
| Subordinated debt | | 36,689 |
| | 39,461 |
| | 25,990 |
| | 13,471 |
| | — |
| Accrued interest payable | | 237 |
| | 237 |
| | 237 |
| | — |
| | — |
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| | | | | | | | | | | | | | | | | | | | | | | | December 31, 2016
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 | | $ | 39,452 |
| | $ | 39,452 |
| | $ | 39,452 |
| | $ | — |
| | $ | — |
| Interest-bearing time deposits | | 250 |
| | 250 |
| | 250 |
| | — |
| | — |
| Securities held-to-maturity | | 16,671 |
| | 16,197 |
| | — |
| | 16,197 |
| | — |
| Net loans | | 1,239,808 |
| | 1,233,937 |
| | — |
| | — |
| | 1,233,937 |
| Accrued interest receivable | | 6,708 |
| | 6,708 |
| | 6,708 |
| | — |
| | — |
| Federal Home Loan Bank of Indianapolis stock | | 8,910 |
| | 8,910 |
| | — |
| | 8,910 |
| | — |
| Deposits | | 1,462,867 |
| | 1,441,794 |
| | 492,435 |
| | — |
| | 949,359 |
| Advances from Federal Home Loan Bank | | 189,981 |
| | 186,258 |
| | — |
| | 186,258 |
| | — |
| Subordinated debt | | 36,578 |
| | 38,425 |
| | 24,900 |
| | 13,525 |
| | — |
| Accrued interest payable | | 112 |
| | 112 |
| | 112 |
| | — |
| | — |
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