| Assets and Liabilities Measured at Fair Value on Recurring Basis |
Assets and liabilities measured at fair value on a recurring basis are as follows at June 30, 2019 and December 31, 2018: | | | | | | | | | | | | | | | | | | |
| | Fair Value Measurements at June 30, 2019 Using: | | | | | Quoted Prices in Active Markets for Identical Assets | | Significant Other Observable Inputs | | Significant Unobservable Inputs | Description | Total | | (Level 1) | | (Level 2) | | (Level 3) | Assets: | | | | | | | | Securities Available For Sale: | | | | | | | | U.S. Government sponsored entities | $ | 140,727 |
| | $ | 0 |
| | $ | 140,727 |
| | $ | 0 |
| States and political subdivisions | 119,454 |
| | 0 |
| | 119,454 |
| | 0 |
| Residential and multi-family mortgage | 233,064 |
| | 0 |
| | 233,064 |
| | 0 |
| Corporate notes and bonds | 11,889 |
| | 0 |
| | 11,889 |
| | 0 |
| Pooled SBA | 27,876 |
| | 0 |
| | 27,876 |
| | 0 |
| Other | 960 |
| | 960 |
| | 0 |
| | 0 |
| Total Securities Available For Sale | $ | 533,970 |
| | $ | 960 |
| | $ | 533,010 |
| | $ | 0 |
| Interest Rate swaps | $ | 1,802 |
| | $ | 0 |
| | $ | 1,802 |
| | $ | 0 |
| Trading Securities: | | | | | | | | Corporate equity securities | $ | 7,155 |
| | $ | 7,155 |
| | $ | 0 |
| | $ | 0 |
| Mutual funds | 916 |
| | 916 |
| | 0 |
| | 0 |
| Certificates of deposit | 179 |
| | 179 |
| | 0 |
| | 0 |
| Corporate notes and bonds | 603 |
| | 603 |
| | 0 |
| | 0 |
| U.S. Government sponsored entities | 51 |
| | 0 |
| | 51 |
| | 0 |
| Total Trading Securities | $ | 8,904 |
| | $ | 8,853 |
| | $ | 51 |
| | $ | 0 |
| Liabilities: | | | | | | | | Interest rate swaps | $ | (2,328 | ) | | $ | 0 |
| | $ | (2,328 | ) | | $ | 0 |
| | | | | | | | | | | | Fair Value Measurements at December 31, 2018 Using: | | | | Quoted Prices in Active Markets for Identical Assets | | Significant Other Observable Inputs | | Significant Unobservable Inputs | Description | Total | | (Level 1) | | (Level 2) | | (Level 3) | Assets: | | | | | | | | Securities Available For Sale: | | | | | | | | U.S. Government sponsored entities | $ | 132,694 |
| | $ | 0 |
| | $ | 132,694 |
| | $ | 0 |
| States and political subdivisions | 136,031 |
| | 0 |
| | 136,031 |
| | 0 |
| Residential and multi-family mortgage | 206,053 |
| | 0 |
| | 206,053 |
| | 0 |
| Corporate notes and bonds | 11,777 |
| | 0 |
| | 11,777 |
| | 0 |
| Pooled SBA | 29,374 |
| | 0 |
| | 29,374 |
| | 0 |
| Other | 934 |
| | 934 |
| | 0 |
| | 0 |
| Total Securities Available For Sale | $ | 516,863 |
| | $ | 934 |
| | $ | 515,929 |
| | $ | 0 |
| Interest Rate swaps | $ | 485 |
| | $ | 0 |
| | $ | 485 |
| | $ | 0 |
| Trading Securities: | | | | | | | | Corporate equity securities | $ | 5,828 |
| | $ | 5,828 |
| | $ | 0 |
| | $ | 0 |
| Mutual funds | 1,058 |
| | 1,058 |
| | 0 |
| | 0 |
| Certificates of deposit | 268 |
| | 268 |
| | 0 |
| | 0 |
| Corporate notes and bonds | 581 |
| | 581 |
| | 0 |
| | 0 |
| U.S. Government sponsored entities | 51 |
| | 0 |
| | 51 |
| | 0 |
| Total Trading Securities | $ | 7,786 |
| | $ | 7,735 |
| | $ | 51 |
| | $ | 0 |
| Liabilities: | | | | | | | | Interest rate swaps | $ | (686 | ) | | $ | 0 |
| | $ | (686 | ) | | $ | 0 |
|
|
| Assets and Liabilities Measured at Fair Value on Non-Recurring Basis |
Assets and liabilities measured at fair value on a non-recurring basis are as follows at June 30, 2019 and December 31, 2018: | | | | | | | | | | | | | | | | | | Fair Value Measurements at June 30, 2019 Using: | | | | Quoted Prices in Active Markets for Identical Assets | | Significant Other Observable Inputs | | Significant Unobservable Inputs | Description | Total | | (Level 1) | | (Level 2) | | (Level 3) | Assets: | | | | | | | | Impaired loans: | | | | | | | | Commercial, industrial, and agricultural | $ | 631 |
| | 0 |
| | 0 |
| | $ | 631 |
| Commercial mortgages | $ | 933 |
| | 0 |
| | 0 |
| | $ | 933 |
| | | | | | | | | | | | Fair Value Measurements at December 31, 2018 Using | | | | Quoted Prices in | | | | Significant | | | | Active Markets for | | Significant Other | | Unobservable | | | | Identical Assets | | Observable Inputs | | Inputs | Description | Total | | (Level 1) | | (Level 2) | | (Level 3) | Assets: | | | | | | | | Impaired loans: | | | | | | | | Commercial, industrial, and agricultural | $ | 2,055 |
| | 0 |
| | 0 |
| | $ | 2,055 |
| Commercial mortgages | $ | 679 |
| | 0 |
| | 0 |
| | $ | 679 |
|
|
| Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Non Recurring Basis |
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2019: | | | | | | | | | | Fair value | | Valuation Technique | | Unobservable Inputs | | Range (Weighted Average) | Impaired loans – commercial, industrial, and agricultural
| $631 | | Valuation of third party appraisal on underlying collateral | | Loss severity rates | | 48%-61% (58%) | Impaired loans – commercial mortgages | $933 | | Valuation of third party appraisal on underlying collateral | | Loss severity rates | | 0-100% (66%) |
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2018: | | | | | | | | | | Fair value | | Valuation Technique | | Unobservable Inputs | | Range (Weighted Average) | Impaired loans – commercial, industrial, and agricultural | $2,055 | | Valuation of third party appraisal on underlying collateral | | Loss severity rates | | 20%-60% (34%) | Impaired loans – commercial mortgages | $679 | | Valuation of third party appraisal on underlying collateral | | Loss severity rates | | 15%-39% (33%) |
|
| Carrying Amount and Fair Value of Financial Instruments |
The following table presents the carrying amount and fair value of financial instruments at June 30, 2019: | | | | | | | | | | | | | | | | | | | | | | Carrying | | Fair Value Measurement Using: | | Total | | Amount | | Level 1 | | Level 2 | | Level 3 | | Fair Value | ASSETS | | | | | | | | | | Cash and cash equivalents | $ | 37,930 |
| | $ | 37,930 |
| | $ | 0 |
| | $ | 0 |
| | $ | 37,930 |
| Securities available for sale | 533,970 |
| | 960 |
| | 533,010 |
| | 0 |
| | 533,970 |
| Trading securities | 8,904 |
| | 8,853 |
| | 51 |
| | 0 |
| | 8,904 |
| Loans held for sale | 2,032 |
| | 0 |
| | 2,037 |
| | 0 |
| | 2,037 |
| Net loans | 2,600,921 |
| | 0 |
| | 0 |
| | 2,578,210 |
| | 2,578,210 |
| FHLB and other restricted interests | 24,501 |
| | n/a |
| | n/a |
| | n/a |
| | n/a |
| Interest rate swaps | 1,802 |
| | 0 |
| | 1,802 |
| | 0 |
| | 1,802 |
| Accrued interest receivable | 12,020 |
| | 6 |
| | 3,310 |
| | 8,704 |
| | 12,020 |
| LIABILITIES | | | | | | | | | | Deposits | $ | (2,734,762 | ) | | $ | (2,379,635 | ) | | $ | (355,750 | ) | | $ | 0 |
| | $ | (2,735,385 | ) | FHLB and other borrowings | (257,784 | ) | | 0 |
| | (260,361 | ) | | 0 |
| | (260,361 | ) | Subordinated debentures | (70,620 | ) | | 0 |
| | (64,791 | ) | | 0 |
| | (64,791 | ) | Interest rate swaps | (2,328 | ) | | 0 |
| | (2,328 | ) | | 0 |
| | (2,328 | ) | Accrued interest payable | (990 | ) | | 0 |
| | (990 | ) | | 0 |
| | (990 | ) |
The following table presents the carrying amount and fair value of financial instruments at December 31, 2018: | | | | | | | | | | | | | | | | | | | | | | Carrying | | Fair Value Measurement Using: | | Total | | Amount | | Level 1 | | Level 2 | | Level 3 | | Fair Value | ASSETS | | | | | | | | | | Cash and cash equivalents | $ | 45,563 |
| | $ | 45,563 |
| | $ | 0 |
| | $ | 0 |
| | $ | 45,563 |
| Securities available for sale | 516,863 |
| | 934 |
| | 515,929 |
| | 0 |
| | 516,863 |
| Trading securities | 7,786 |
| | 7,735 |
| | 51 |
| | 0 |
| | 7,786 |
| Loans held for sale | 367 |
| | 0 |
| | 368 |
| | 0 |
| | 368 |
| Net loans | 2,454,853 |
| | 0 |
| | 0 |
| | 2,433,417 |
| | 2,433,417 |
| FHLB and other restricted interests | 24,508 |
| | n/a |
| | n/a |
| | n/a |
| | n/a |
| Interest rate swaps | 485 |
| | 0 |
| | 485 |
| | 0 |
| | 485 |
| Accrued interest receivable | 10,843 |
| | 6 |
| | 3,368 |
| | 7,469 |
| | 10,843 |
| LIABILITIES | | | | | | | | | | Deposits | $ | (2,610,786 | ) | | $ | (2,215,349 | ) | | $ | (397,370 | ) | | $ | 0 |
| | $ | (2,612,719 | ) | FHLB and other borrowings | (245,117 | ) | | 0 |
| | (242,592 | ) | | 0 |
| | (242,592 | ) | Subordinated debentures | (70,620 | ) | | 0 |
| | (65,794 | ) | | 0 |
| | (65,794 | ) | Interest rate swaps | (686 | ) | | 0 |
| | (686 | ) | | 0 |
| | (686 | ) | Accrued interest payable | (863 | ) | | 0 |
| | (863 | ) | | 0 |
| | (863 | ) |
|