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, 2020 and December 31, 2019: | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at June 30, 2020 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 | $ | 146,619 | | | $ | 0 | | | $ | 146,619 | | | $ | 0 | | States and political subdivisions | 64,191 | | | 0 | | | 64,191 | | | 0 | | Residential and multi-family mortgage | 304,771 | | | 5,130 | | | 299,641 | | | 0 | | Corporate notes and bonds | 9,172 | | | 0 | | | 9,172 | | | 0 | | Pooled SBA | 23,358 | | | 0 | | | 23,358 | | | 0 | | Other | 983 | | | 983 | | | 0 | | | 0 | | Total Securities Available For Sale | $ | 549,094 | | | $ | 6,113 | | | $ | 542,981 | | | $ | 0 | | Interest Rate swaps | $ | 4,709 | | | $ | 0 | | | $ | 4,709 | | | $ | 0 | | Trading Securities: | | | | | | | | Corporate equity securities | $ | 3,847 | | | $ | 3,847 | | | $ | 0 | | | $ | 0 | | Mutual funds | 994 | | | 994 | | | 0 | | | 0 | | Certificates of deposit | 322 | | | 322 | | | 0 | | | 0 | | Corporate notes and bonds | 675 | | | 675 | | | 0 | | | 0 | | U.S. Government sponsored entities | 51 | | | 0 | | | 51 | | | 0 | | Total Trading Securities | $ | 5,889 | | | $ | 5,838 | | | $ | 51 | | | $ | 0 | | Liabilities: | | | | | | | | Interest rate swaps | $ | (5,615) | | | $ | 0 | | | $ | (5,615) | | | $ | 0 | | | | | | | | | | | | | Fair Value Measurements at December 31, 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 | $ | 127,094 | | | $ | 0 | | | $ | 127,094 | | | $ | 0 | | States and political subdivisions | 104,363 | | | 0 | | | 104,363 | | | 0 | | Residential and multi-family mortgage | 276,636 | | | 0 | | | 273,841 | | | 2,795 | | Corporate notes and bonds | 8,082 | | | 0 | | | 8,082 | | | 0 | | Pooled SBA | 25,174 | | | 0 | | | 25,174 | | | 0 | | Other | 964 | | | 964 | | | 0 | | | 0 | | Total Securities Available For Sale | $ | 542,313 | | | $ | 964 | | | $ | 538,554 | | | $ | 2,795 | | Interest Rate swaps | $ | 1,877 | | | $ | 0 | | | $ | 1,877 | | | $ | 0 | | Trading Securities: | | | | | | | | Corporate equity securities | $ | 7,946 | | | $ | 7,946 | | | $ | 0 | | | $ | 0 | | Mutual funds | 807 | | | 807 | | | 0 | | | 0 | | Certificates of deposit | 350 | | | 350 | | | 0 | | | 0 | | Corporate notes and bonds | 655 | | | 655 | | | 0 | | | 0 | | U.S. Government sponsored entities | 51 | | | 0 | | | 51 | | | 0 | | Total Trading Securities | $ | 9,809 | | | $ | 9,758 | | | $ | 51 | | | $ | 0 | | Liabilities: | | | | | | | | Interest rate swaps | $ | (2,362) | | | $ | 0 | | | $ | (2,362) | | | $ | 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, 2020 and December 31, 2019: | | | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at June 30, 2020 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 | $ | 5,417 | | | 0 | | | 0 | | | $ | 5,417 | | Commercial mortgages | $ | 10,981 | | | 0 | | | 0 | | | $ | 10,981 | | | | | | | | | | | | | Fair Value Measurements at December 31, 2019 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 | $ | 2,910 | | | 0 | | | 0 | | | $ | 2,910 | | Commercial mortgages | $ | 1,147 | | | 0 | | | 0 | | | $ | 1,147 | |
|
Carrying Amount and Fair Value of Financial Instruments |
The following table presents the carrying amount and fair value of financial instruments at June 30, 2020: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Carrying | | Fair Value Measurement Using: | | | | | | Total | | Amount | | Level 1 | | Level 2 | | Level 3 | | Fair Value | ASSETS | | | | | | | | | | Cash and cash equivalents | $ | 663,348 | | | $ | 663,348 | | | $ | 0 | | | $ | 0 | | | $ | 663,348 | | Securities available for sale | 549,094 | | | 6,113 | | | 542,981 | | | 0 | | | 549,094 | | Trading securities | 5,889 | | | 5,838 | | | 51 | | | 0 | | | 5,889 | | Loans held for sale | 6,065 | | | 0 | | | 6,087 | | | 0 | | | 6,087 | | Net loans | 3,005,642 | | | 0 | | | 0 | | | 2,947,830 | | | 2,947,830 | | FHLB and other restricted interests | 28,661 | | | n/a | | n/a | | n/a | | n/a | | | | | | | | | | | Interest rate swaps | 4,709 | | | 0 | | | 4,709 | | | 0 | | | 4,709 | | Accrued interest receivable | 14,659 | | | 32 | | | 2,852 | | | 11,775 | | | 14,659 | | LIABILITIES | | | | | | | | | | Deposits | $ | (3,596,022) | | | $ | (3,194,126) | | | $ | (414,180) | | | $ | 0 | | | $ | (3,608,306) | | FHLB and other borrowings | (416,313) | | | 0 | | | (422,324) | | | 0 | | | (422,324) | | Subordinated debentures | (70,620) | | | 0 | | | (62,276) | | | 0 | | | (62,276) | | Interest rate swaps | (5,615) | | | 0 | | | (5,615) | | | 0 | | | (5,615) | | Accrued interest payable | (1,677) | | | 0 | | | (1,677) | | | 0 | | | (1,677) | |
The following table presents the carrying amount and fair value of financial instruments at December 31, 2019: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Carrying | | Fair Value Measurement Using: | | | | | | Total | | Amount | | Level 1 | | Level 2 | | Level 3 | | Fair Value | ASSETS | | | | | | | | | | Cash and cash equivalents | $ | 192,974 | | | $ | 192,974 | | | $ | 0 | | | $ | 0 | | | $ | 192,974 | | Securities available for sale | 542,313 | | | 964 | | | 538,554 | | | 2,795 | | | 542,313 | | Trading securities | 9,809 | | | 9,758 | | | 51 | | | 0 | | | 9,809 | | Loans held for sale | 930 | | | 0 | | | 933 | | | 0 | | | 933 | | Net loans | 2,784,562 | | | 0 | | | 0 | | | 2,765,133 | | | 2,765,133 | | FHLB and other restricted interests | 27,868 | | | n/a | | n/a | | n/a | | n/a | | | | | | | | | | | Interest rate swaps | 1,877 | | | 0 | | | 1,877 | | | 0 | | | 1,877 | | Accrued interest receivable | 11,486 | | | 6 | | | 3,238 | | | 8,242 | | | 11,486 | | LIABILITIES | | | | | | | | | | Deposits | $ | (3,102,327) | | | $ | (2,674,511) | | | $ | (432,287) | | | $ | 0 | | | $ | (3,106,798) | | FHLB and other borrowings | (227,907) | | | 0 | | | (230,679) | | | 0 | | | (230,679) | | Subordinated debentures | (70,620) | | | 0 | | | (64,084) | | | 0 | | | (64,084) | | Interest rate swaps | (2,362) | | | 0 | | | (2,632) | | | 0 | | | (2,632) | | Accrued interest payable | (1,597) | | | 0 | | | (1,597) | | | 0 | | | (1,597) | |
|