Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of fair value measurements by level within the fair value hierarchy and the basis of measurement used

For assets measured at fair value, the fair value measurements by level within the fair value hierarchy, and the basis of measurement used at June 30, 2019, and December 31, 2018, are as follows:

		June 30, 2019
In thousands	Basis	Total		Level 1		Level 2		Level 3
U.S. Government and agencies		$	118,009	$	—	$	118,009	$	—
Mortgage-backed securities, residential		49,042		—		49,042		—
State and municipal		8,661		—		8,661		—
Total securities available for sale	Recurring	$	175,712	$	—	$	175,712	$	—
Equity securities with readily determinable fair values	Recurring	$	2,001	$	2,001	$	—	$	—
Collateral dependent impaired loans	Nonrecurring	$	3,833	$	—	$	—	$	3,833

		December 31, 2018
In thousands	Basis	Total		Level 1		Level 2		Level 3
U.S. Government and agencies		$	118,413	$	—	$	118,413	$	—
Mortgage-backed securities, residential		33,811		—		33,811		—
State and municipal		9,506		—		9,506		—
Total securities available for sale	Recurring	$	161,730	$	—	$	161,730	$	—
Equity securities with readily determinable fair values	Recurring	$	1,839	$	1,839	$	—	$	—
Collateral dependent impaired loans	Nonrecurring	$	3,883	$	—	$	—	$	3,883

Schedule of additional quantitative information about assets measured at fair value on a nonrecurring basis

The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis for which the Corporation has utilized Level 3 inputs to determine fair value:

	Quantitative Information about Level 3 Fair Value Measurements
Dollars in thousands	Fair Value Estimate		Valuation Technique		Unobservable Input		Range	Weighted Average
June 30, 2019
Impaired loans	$	3,833	Appraisal of collateral	(a)	Appraisal adjustments	(b)	(10) - (50)%	(16)%
December 31, 2018
Impaired loans	$	3,883	Appraisal of collateral	(a)	Appraisal adjustments	(b)	(10) - (50)%	(16)%

(a) Fair value is generally determined through management’s estimate or independent third-party appraisals of the underlying collateral, which generally includes various Level 3 inputs which are not observable.

(b) Appraisals may be adjusted downward by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percentage of the appraisal. Higher downward adjustments are caused by negative changes to the collateral or conditions in the real estate market, actual offers or sales contracts received, and/or age of the appraisal.

Schedule of carrying amount, exit pricing concept fair value and placement in the fair value hierarchy

The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Corporation’s financial instruments as of June 30, 2019:

	June 30, 2019
In thousands	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and due from banks	$	18,216	$	18,216	$	7,845	$	10,371	$	—
Interest-bearing deposits in banks	58,390		58,390		58,390		—		—
Equity securities available for sale	2,001		2,001		2,001		—		—
Investment securities available for sale	175,712		175,712		—		175,712		—
Investment securities held to maturity	24,722		24,772		—		24,772		—
Loans held for sale	3,009		3,009		—		3,009		—
Loans, less allowance for loan losses	1,265,207		1,268,766		—		—		1,268,766
Accrued interest receivable	4,840		4,840		—		4,840		—
Restricted investment in bank stocks	4,202		4,202		—		4,202		—
Financial liabilities:
Demand deposits and savings	974,490		974,490		—		974,490		—
Time deposits	402,787		403,145		—		403,145		—
Short-term borrowings	24,137		24,137		—		24,137		—
Long-term borrowings	73,288		73,888		—		73,888		—
Trust preferred subordinated debt	5,000		4,706		—		4,706		—
Accrued interest payable	2,065		2,065		—		2,065		—
Off-balance sheet financial instruments	—		—		—		—		—

The following presents the carrying amount, exit pricing concept fair value, and placement in the fair value hierarchy of the Corporation’s financial instruments as of December 31, 2018:

	December 31, 2018
In thousands	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and due from banks	$	20,105	$	20,105	$	8,190	$	11,915	$	—
Interest-bearing deposits in banks	20,800		20,800		20,800		—		—
Equity securities available for sale	1,839		1,839		1,839		—		—
Investment securities available for sale	161,730		161,730		—		161,730		—
Investment securities held to maturity	27,266		26,911		—		26,911		—
Loans held for sale	408		408		—		408		—
Loans, less allowance for loan losses	1,288,501		1,272,393		—		—		1,272,393
Accrued interest receivable	4,545		4,545		—		4,545		—
Restricted investment in bank stocks	4,336		4,336		—		4,336		—
Financial liabilities:
Demand deposits and savings	979,964		979,964		—		979,964		—
Time deposits	368,128		364,093		—		364,093		—
Short-term borrowings	34,648		34,648		—		34,648		—
Long-term borrowings	78,516		78,545		—		78,545		—
Trust preferred subordinated debt	5,000		4,701		—		4,701		—
Accrued interest payable	1,364		1,364		—		1,364		—
Off-balance sheet financial instruments	—		—		—		—		—