Summary of Assets Measured at Fair Value on a Recurring Basis |
The following table summarizes assets measured at fair value on a recurring basis at December 31. AFS Securities | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in Thousands) | Level 1 | | Level 2 | | Level 3 | | Total Fair Value Measurements | December 31, 2018 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | States and political subdivisions | $ | 0 | | $ | 145,004 | | $ | 0 | | $ | 145,004 | | | | | | | | | | | | | | | | | GSE residential CMOs | 0 | | 108,064 | | 0 | | 108,064 | | | | | | | | | Private label residential CMOs | 0 | | 143 | | 0 | | 143 | Private label commercial CMOs | 0 | | 67,836 | | 7,209 | | 75,045 | Asset-backed and other | 0 | | 137,588 | | 0 | | 137,588 | Totals | $ | 0 | | $ | 458,635 | | $ | 7,209 | | $ | 465,844 | | | | | | | | | | | | | | | | | December 31, 2017 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | States and political subdivisions | $ | 0 | | $ | 159,458 | | $ | 0 | | $ | 159,458 | GSE residential MBSs | 0 | | 49,530 | | 0 | | 49,530 | | | | | | | | | GSE residential CMOs | 0 | | 111,119 | | 0 | | 111,119 | | | | | | | | | Private label residential CMOs | 0 | | 1,003 | | 0 | | 1,003 | Private label commercial CMOs | 0 | | 7,653 | | 0 | | 7,653 | Asset-backed and other | 0 | | 86,545 | | 0 | | 86,545 | Totals | $ | 0 | | $ | 415,308 | | $ | 0 | | $ | 415,308 | | | | | | | | | | | | | | | | |
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Summary of Assets Measured at Fair Value on Nonrecurring Basis |
The following table summarizes assets measured at fair value on a nonrecurring basis at December 31. | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | Level 1 | | Level 2 | | Level 3 | | Total Fair Value Measurements | December 31, 2018 | | | | | | | | Impaired loans | | | | | | | | Commercial real estate: | | | | | | | | Owner-occupied | $ | 0 | | $ | 0 | | $ | 1,087 | | $ | 1,087 | | | | | | | | | Multi-family | 0 | | 0 | | 131 | | 131 | Non-owner occupied residential | 0 | | 0 | | 278 | | 278 | | | | | | | | | | | | | | | | | | | | | | | | | Commercial and industrial | 0 | | 0 | | 25 | | 25 | Residential mortgage: | | | | | | | | First lien | 0 | | 0 | | 1,121 | | 1,121 | | | | | | | | | Home equity - lines of credit | 0 | | 0 | | 409 | | 409 | | | | | | | | | Total impaired loans | $ | 0 | | $ | 0 | | $ | 3,051 | | $ | 3,051 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2017 | | | | | | | | Impaired loans | | | | | | | | Commercial real estate: | | | | | | | | Owner-occupied | $ | 0 | | $ | 0 | | $ | 430 | | $ | 430 | Non-owner occupied | 0 | | 0 | | 4,066 | | 4,066 | Multi-family | 0 | | 0 | | 165 | | 165 | Non-owner occupied residential | 0 | | 0 | | 344 | | 344 | | | | | | | | | | | | | | | | | | | | | | | | | Commercial and industrial | 0 | | 0 | | 53 | | 53 | Residential mortgage: | | | | | | | | First lien | 0 | | 0 | | 1,951 | | 1,951 | | | | | | | | | Home equity - lines of credit | 0 | | 0 | | 161 | | 161 | Installment and other loans | 0 | | 0 | | 3 | | 3 | Total impaired loans | $ | 0 | | $ | 0 | | $ | 7,173 | | $ | 7,173 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Schedule of Estimated Fair Values of Financial Instruments |
The following table presents the carrying amounts and estimated fair values of financial assets and liabilities at December 31. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | Carrying Amount | | Fair Value | | Level 1 | | Level 2 | | Level 3 | December 31, 2018 | | | | | | | | | | Financial Assets | | | | | | | | | | Cash and due from banks | $ | 26,156 | | $ | 26,156 | | $ | 26,156 | | $ | 0 | | $ | 0 | Interest-bearing deposits with banks | 45,664 | | 45,664 | | 45,664 | | 0 | | 0 | Federal funds sold | 16,995 | | 16,995 | | 16,995 | | 0 | | 0 | Restricted investments in bank stock | 10,842 | | n/a | | n/a | | n/a | | n/a | AFS securities | 465,844 | | 465,844 | | 0 | | 458,635 | | 7,209 | Loans held for sale | 3,340 | | 3,413 | | 0 | | 3,413 | | 0 | Loans, net of allowance for loan losses | 1,233,643 | | 1,229,645 | | 0 | | 0 | | 1,229,645 | Accrued interest receivable | 5,927 | | 5,927 | | 0 | | 2,853 | | 3,074 | | | | | | | | | | | Financial Liabilities | | | | | | | | | | Deposits | 1,558,756 | | 1,555,912 | | 0 | | 1,555,912 | | 0 | Short-term borrowings | 64,069 | | 64,069 | | 0 | | 64,069 | | 0 | Long-term debt | 83,450 | | 82,951 | | 0 | | 82,951 | | 0 | Subordinated notes | 31,859 | | 31,256 | | 0 | | 31,256 | | 0 | Accrued interest payable | 1,301 | | 1,301 | | 0 | | 1,301 | | 0 | Off-balance sheet instruments | 0 | | 0 | | 0 | | 0 | | 0 | December 31, 2017 | | | | | | | | | | Financial Assets | | | | | | | | | | Cash and due from banks | $ | 21,734 | | $ | 21,734 | | $ | 21,734 | | $ | 0 | | $ | 0 | Interest-bearing deposits with banks | 8,073 | | 8,073 | | 8,073 | | 0 | | 0 | | | | | | | | | | | Restricted investments in bank stock | 9,997 | | n/a | | n/a | | n/a | | n/a | AFS securities | 415,308 | | 415,308 | | 0 | | 415,308 | | 0 | Loans held for sale | 6,089 | | 6,272 | | 0 | | 6,272 | | 0 | Loans, net of allowance for loan losses | 997,216 | | 994,617 | | 0 | | 0 | | 994,617 | Accrued interest receivable | 5,048 | | 5,048 | | 0 | | 2,580 | | 2,468 | | | | | | | | | | | Financial Liabilities | | | | | | | | | | Deposits | 1,219,515 | | 1,213,288 | | 0 | | 1,213,288 | | 0 | Short-term borrowings | 93,576 | | 93,576 | | 0 | | 93,576 | | 0 | Long-term debt | 83,815 | | 83,949 | | 0 | | 83,949 | | 0 | | | | | | | | | | | Accrued interest payable | 495 | | 495 | | 0 | | 495 | | 0 | Off-balance sheet instruments | 0 | | 0 | | 0 | | 0 | | 0 |
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