Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value

Assets and liabilities measured at fair value are summarized in the table below.

	Fair Value Measurements at September 30, 2020 Using:
Assets:	(Level 1)		(Level 2)		(Level 3)
Assets measured at fair value on a recurring basis:
Securities available for sale
U.S. Treasury securities and obligations of U.S.    Government agencies	$	—	$	19,366	$	—
Obligations of states and political subdivisions		—		226,098		—
Mortgage-backed securities in government sponsored    entities		—		120,390		—
Total securities available for sale		—		365,854		—
Equity securities		—		817		—
Swap asset		—		24,727		—
Liabilities measured at fair value on a recurring basis:
Swap liability	$	—	$	24,727	$	—

	Fair Value Measurements at December 31, 2019 Using:
Assets:	(Level 1)		(Level 2)		(Level 3)
Assets measured at fair value on a recurring basis:
Securities available for sale
U.S. Treasury securities and obligations of U.S.    Government agencies	$	—	$	19,601	$	—
Obligations of states and political subdivisions		—		206,034		—
Mortgage-backed securities in government    sponsored entities		—		132,864		—
Total securities available for sale		—		358,499		—
Equity securities		—		1,191		—
Swap asset		—		8,918		—
Liabilities measured at fair value on a recurring    basis:
Swap liability		—		8,918		—
Assets measured at fair value on a nonrecurring    basis:
Impaired loans	$	—	$	—	$	1

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 December 31, 2019.

	Quantitative Information about Level 3 Fair Value Measurements
December 31, 2019	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
Impaired loans	$	1	Appraisal of collateral	Appraisal adjustments	30%	30%
				Holding period	22 months	22 months

Carrying Amount and Fair Value of Financial Instruments Not Measured at Fair Value on a Recurring or Nonrecurring Basis

The carrying amount and fair values of financial instruments not measured at fair value on a recurring or nonrecurring basis at September 30, 2020 are as follows:

September 30, 2020	Carrying Amount		Total Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	194,773	$	194,773	$	194,773	$	—	$	—
Other securities		20,537		20,537		20,537		—		—
Loans, held for sale		13,256		13,521		13,521		—		—
Loans, net of allowance		2,018,303		2,046,882		—		—		2,046,882
Bank owned life insurance		45,732		45,732		45,732		—		—
Accrued interest receivable		10,227		10,227		10,227		—		—
Financial Liabilities:
Nonmaturing deposits		1,776,668		1,776,668		1,776,668		—		—
Time deposits		292,101		293,168		—		—		293,168
Long-term FHLB advances		125,000		131,095		—		—		131,095
Other borrowings		183,695		183,677		—		—		183,677
Securities sold under agreement to repurchase		25,813		25,813		25,813		—		—
Subordinated debentures		29,427		31,990		—		—		31,990
Accrued interest payable		492		492		492		—		—

The carrying amount and fair values of financial instruments not measured at fair value on a recurring or nonrecurring basis at December 31, 2019 are as follows:

December 31, 2019	Carrying Amount		Total Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	48,535	$	48,535	$	48,535	$	—	$	—
Other securities		20,280		20,280		20,280		—		—
Loans, held for sale		2,285		2,331		2,331		—		—
Loans, net of allowance		1,694,203		1,713,863		—		—		1,713,863
Bank owned life insurance		44,999		44,999		44,999		—		—
Accrued interest receivable		7,093		7,093		7,093		—		—
Financial Liabilities:
Nonmaturing deposits		1,402,924		1,402,924		1,402,924		—		—
Time deposits		275,840		276,616		—		—		276,616
Short-term FHLB advances		101,500		101,500		101,500		—		—
Long-term FHLB advances		125,000		123,893		—		—		123,893
Securities sold under agreement to repurchase		18,674		18,674		18,674		—		—
Subordinated debentures		29,427		34,452		—		—		34,452
Accrued interest payable		277		277		277		—		—