Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value

Assets measured at fair value are summarized below.

	Fair Value Measurements at June 30, 2017 Using:
Assets:	(Level 1)		(Level 2)		(Level 3)
Assets measured at fair value on a recurring basis:
U.S. Treasury securities and obligations of U.S. Government agencies	$	—	$	35,763	$	—
Obligations of states and political subdivisions		—		108,942		—
Mortgage-backed securities in government sponsored entities		—		84,735		—
Equity securities in financial institutions		—		757		—
Swap asset		—		1,706		—
Liabilities measured at fair value on a recurring basis:
Swap liability		—		1,706		—
Assets measured at fair value on a nonrecurring basis:
Impaired loans	$	—	$	—	$	2,966
Other real estate owned		—		—		27

	Fair Value Measurements at December 31, 2016 Using:
Assets:	(Level 1)		(Level 2)		(Level 3)
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 June 30, 2017.

	Quantitative Information about Level 3 Fair Value Measurements
June 30, 2017	Fair Value		Valuation Technique		Unobservable Input	Range	Weighted Average
Impaired loans	$	2,966		Appraisal of collateral	Appraisal adjustments	10% - 54%	35%
					Liquidation expense	0% - 10%	5%
					Holding period	0 - 30 months	20 months
Other real estate owned	$	27		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:

June 30, 2017	Carrying Amount		Total Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	39,515	$	39,515	$	39,515	$	—	$	—
Securities available for sale		230,197		230,197		—		230,197		—
Other securities		14,225		14,225		14,225		—		—
Loans, held for sale		4,728		4,728		4,728		—		—
Loans, net of allowance for loan losses		1,087,770		1,088,242		—		—		1,088,242
Bank owned life insurance		24,839		24,839		24,839		—		—
Accrued interest receivable		3,928		3,928		3,928		—		—
Swap asset		1,706		1,706		—		1,706		—
Financial Liabilities:
Nonmaturing deposits		975,116		975,116		975,116		—		—
Time deposits		189,772		189,807		—		—		189,807
Short-term FHLB advances		48,300		48,300		48,300		—		—
Long-term FHLB advances		15,000		14,987		—		—		14,987
Securities sold under agreement to repurchase		12,730		12,730		12,730		—		—
Subordinated debentures		29,427		29,378		—		—		29,378
Accrued interest payable		101		101		101		—		—
Swap liability		1,706		1,706		—		1,706		—

December 31, 2016	Carrying Amount		Total 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		—