Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value

Assets measured at fair value are summarized below.

	Fair Value Measurements at March 31, 2017 Using:
	(Level 1)		(Level 2)		(Level 3)
Assets:
Assets measured at fair value on a recurring basis:
U.S. Treasury securities and obligations of U.S. Government agencies	$	—	$	37,098	$	—
Obligations of states and political subdivisions		—		103,473		—
Mortgage-backed securities in government sponsored entities		—		81,917		—
Equity securities in financial institutions		—		757		—
Swap asset		—		1,760		—
Liabilities measured at fair value on a recurring basis:
Swap liability		—		1,760		—
Assets measured at fair value on a nonrecurring basis:
Impaired loans	$	—	$	—	$	1,393
Other real estate owned		—		—		88
	Fair Value Measurements at December 31, 2016 Using:
	(Level 1)		(Level 2)		(Level 3)
Assets:
Assets measured at fair value on a recurring basis:
U.S. Treasury securities and obligations of U.S. Government agencies	$	—	$	37,446	$	—
Obligations of states and political subdivisions		—		94,998		—
Mortgage-backed securities in government sponsored entities		—		62,642		—
Equity securities in financial institutions		—		778		—
Swap asset		—		1,839		—
Liabilities measured at fair value on a recurring basis:
Swap liability		—		1,839		—
Assets measured at fair value on a nonrecurring basis:
Impaired loans	$	—	$	—	$	952
Other real estate owned		—		—		37

Quantitative Information about Level 3 Fair Value Measurements

The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at March 31, 2017.

	Quantitative Information about Level 3 Fair Value Measurements
March 31, 2017	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
Impaired loans	$	1,393	Appraisal of collateral	Appraisal adjustments	10% - 47%	46%
				Liquidation expense	0% - 10%	6%
				Holding period	0 - 30 months	19 months
Other real estate owned	$	88	Appraisal of collateral	Appraisal adjustments	10% - 30%	10%
				Liquidation expense	0% - 10%	10%

The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2016.

	Quantitative Information about Level 3 Fair Value Measurements
December 31, 2016	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
Impaired loans	$	952	Appraisal of collateral	Appraisal adjustments	10% - 67%	64%
				Liquidation expense	0% - 10%	4%
				Holding period	0 - 30 months	19 months
Other real estate owned	$	37	Appraisal of collateral	Appraisal adjustments	10% - 30%	10%
				Liquidation expense	0% - 10%	10%

Carrying Amount and Fair Value of Financial Instruments

The carrying amount and fair values of financial instruments are as follows:

	Carrying		Total
March 31, 2017	Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	182,446	$	182,446	$	182,446	$	—	$	—
Securities available for sale		223,245		223,245		—		223,245		—
Other securities		14,072		14,072		14,072		—		—
Loans, held for sale		1,740		1,740		1,740		—		—
Loans, net of allowance for loan losses		1,061,940		1,065,157		—		—		1,065,157
Bank owned life insurance		24,696		24,696		24,696		—		—
Accrued interest receivable		4,460		4,460		4,460		—		—
Swap asset		1,760		1,760		—		1,760		—
Financial Liabilities:
Nonmaturing deposits		1,146,665		1,146,340		1,146,340		—		—
Time deposits		164,788		165,017		—		—		165,017
Long-term FHLB advances		15,000		15,014		—		—		15,014
Securities sold under agreement to repurchase		23,674		23,674		23,674		—		—
Subordinated debentures		29,427		28,221		—		—		28,221
Accrued interest payable		102		102		102		—		—
Swap liability		1,760		1,760		—		1,760		—

	Carrying		Total
December 31, 2016	Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	36,695	$	36,695	$	36,695	$	—	$	—
Securities available for sale		195,864		195,864		—		195,864		—
Loans, held for sale		2,268		2,268		2,268		—		—
Loans, net of allowance for loan losses		1,042,201		1,047,329		—		—		1,047,329
Other securities		14,055		14,055		14,055		—		—
Bank owned life insurance		24,552		24,552		24,552		—		—
Accrued interest receivable		3,854		3,854		3,854		—		—
Swap asset		1,839		1,839		—		1,839		—
Financial Liabilities:
Nonmaturing deposits		913,677		913,677		913,677		—		—
Time deposits		207,426		207,784		—		—		207,784
Short-term FHLB advances		31,000		31,007		31,007		—		—
Long-term FHLB advances		17,500		17,553		—		—		17,553
Securities sold under agreement to repurchase		28,925		28,925		28,925		—		—
Subordinated debentures		29,427		27,414		—		—		27,414
Accrued interest payable		181		181		181		—		—
Swap liability		1,839		1,839		—		1,839		—