Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2021

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 June 30, 2021 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	$	—	$	56,403	$	—
Obligations of states and political subdivisions		—		237,969		—
Mortgage-backed securities in government sponsored    entities		—		163,432		—
Total securities available for sale		—		457,804		—
Equity securities		—		1,027		—
Swap asset		—		14,521		—
Liabilities measured at fair value on a recurring basis:
Swap liability	$	—	$	14,563	$	—
Assets measured at fair value on a nonrecurring basis:
Mortgage Servicing Rights	$	—	$	—	$	2,745
Impaired loans		—		—		11

	Fair Value Measurements at December 31, 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	$	—	$	21,693	$	—
Obligations of states and political subdivisions		—		229,012		—
Mortgage-backed securities in government    sponsored entities		—		112,759		—
Total securities available for sale		—		363,464		—
Equity securities		—		886		—
Swap asset		—		21,700		—
Liabilities measured at fair value on a recurring    basis:
Swap liability		—		21,764		—
Assets measured at fair value on a nonrecurring    basis:
Mortgage Servicing Rights	$	—	$	—	$	2,246
Impaired loans		—		—		1
Other real estate owned		—		—		31

Quantitative Information about Level 3 Fair Value Measurements

The following tables present quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis as of June 30, 2021 and December 31, 2020.

	Quantitative Information about Level 3 Fair Value Measurements
June 30, 2021	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
Impaired loans	$	11	Appraisal of collateral	Appraisal adjustments	10%	10%
				Holding period	24 Months	24 Months
Mortgage Servicing    Rights	$	2,745	Discounted Cash Flow	Constant Prepayment Rate	9.5% - 30%	17%
				Discount Rate	12%	12%

	Quantitative Information about Level 3 Fair Value Measurements
December 31, 2020	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
Impaired loans	$	1	Appraisal of collateral	Appraisal adjustments	0% - 30%	19%
				Holding period	23 months	23 months
Other real estate owned	$	31	Appraisal of collateral	Appraisal adjustments	10%	10%
Mortgage Servicing    Rights	$	2,246	Discounted Cash Flow	Constant Prepayment Rate	12% - 50%	22%
				Discount Rate	12%	12%

Carrying Amount and Fair Value of Financial Instruments Carried at Amortized Cost

The carrying amount and fair values of financial instruments not measured at fair value on a recurring or nonrecurring basis at June 30, 2021 are as follows:

June 30, 2021	Carrying Amount		Total Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	245,306	$	245,306	$	245,306	$	—	$	—
Other securities		20,537		20,537		20,537		—		—
Loans, held for sale		6,618		6,751		6,751		—		—
Loans, net of allowance		1,992,999		2,015,558		—		—		2,015,558
Bank owned life insurance		46,467		46,467		46,467		—		—
Accrued interest receivable		8,123		8,123		8,123		—		—
Financial Liabilities:
Nonmaturing deposits		2,143,535		2,143,535		2,143,535		—		—
Time deposits		259,457		260,455		—		—		260,455
Long-term FHLB advances		75,000		80,862		—		—		80,862
Securities sold under agreement to repurchase		24,916		24,916		24,916		—		—
Subordinated debentures		29,427		29,986		—		—		29,986
Accrued interest payable		152		152		152		—		—

The carrying amount and fair values of financial instruments not measured at fair value on a recurring or nonrecurring basis at December 31, 2020 are as follows:

December 31, 2020	Carrying Amount		Total Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	139,522	$	139,522	$	139,522	$	—	$	—
Other securities		20,537		20,537		20,537		—		—
Loans, held for sale		7,001		7,141		7,141		—		—
Loans, net of allowance		2,032,474		2,063,249		—		—		2,063,249
Bank owned life insurance		45,976		45,976		45,976		—		—
Accrued interest receivable		9,421		9,421		9,421		—		—
Financial Liabilities:
Nonmaturing deposits		1,902,560		1,902,560		1,902,560		—		—
Time deposits		286,838		288,298		—		—		288,298
Long-term FHLB advances		125,000		130,942		—		—		130,942
Securities sold under agreement to repurchase		28,914		28,914		28,914		—		—
Subordinated debentures		29,427		31,479		—		—		31,479
Accrued interest payable		204		204		204		—		—