Fair Value (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of financial assets measured at fair value on a recurring basis

The following table summarizes the financial assets measured at fair value on a recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

Assets and Liabilities Measured on a Recurring Basis

March 31, 2020	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total FairValue
	(In Thousands)
Assets:
Available for sale securities:
Obligations of U.S. federal government corporations and         agencies	$	—	$	30,282	$	—	$	30,282
Mortgage-backed securities		—		201,026		—		201,026
Collateralized mortgage obligations		—		137,608		—		137,608
Corporate bonds		—		22,067		—		22,067
Obligations of state and political subdivisions		—		137,393		5,830		143,223
Loans held for sale, at fair value		—		13,802		44,420		58,222
Purchased certificate of deposit option		—		86		—		86
Interest rate swaps		—		1,868		—		1,868
Mortgage banking derivative		—		4,073		—		4,073
Liabilities:		—						—
Written certificate of deposit option		—		86		—		86
Interest rate swaps		—		2,119		—		2,119
Mortgage banking derivative		—		586		—		586

December 31, 2019	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total FairValue
	(In Thousands)
Available for sale securities:
Obligations of U.S. federal government corporations and   agencies	$	—	$	2,524	$	—	$	2,524
Mortgage-backed securities		—		89,647		—		89,647
REMICs		—		1,636		—		1,636
Collateralized mortgage obligations		—		82,101		—		82,101
Corporate bonds		—		12,101		—		12,101
Obligations of state and political subdivisions		—		92,028		3,411		95,439
Mortgage banking derivative - asset		—		892		—		892

Schedule of financial assets measured at fair value on a non-recurring basis

The following table summarizes the financial assets measured at fair value on a non-recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

Assets and Liabilities Measured on a Non-Recurring Basis

March 31, 2020	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(In Thousands)
Impaired loans
Commercial real estate		—		—		206		206
Commercial		—		—		228		228
Total impaired loans		—		—		434		434
Mortgage servicing rights		—		12,781		—		12,781

December 31, 2019	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(In Thousands)
Impaired loans
Commercial real estate	$	—	$	—	$	68	$	68
Commercial		—		—		38		38
Total impaired loans		—		—		106		106
Mortgage servicing rights		—		273		—		273

Schedule of Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis

For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of March 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows:

	Fair Value		Valuation Technique	Unobservable Inputs	Range of Inputs	Weighted Average
			(Dollars in Thousands)
Impaired Loans- Applies to all loan    classes	$	434	Appraisals which utilize sales comparison, net income and cost approach	Discounts for collection issues and changes in market conditions	10-20%		10.86	%

For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows:

	Fair Value		Valuation Technique	Unobservable Inputs	Range of Inputs	Weighted Average
			(Dollars in Thousands)
Impaired Loans- Applies to all loan    classes	$	80	Appraisals which utilize sales comparison, net income and cost approach	Discounts for collection issues and changes in market conditions	10-13%		10.86	%

Schedule of FHLB advances with maturities

FHLB advances with maturities greater than 90 days are valued based on a discounted cash flow analysis, using interest rates currently being quoted for similar characteristics and maturities resulting in a Level 2 classification. The cost or value of any call or put options is based on the estimated cost to settle the option at March 31, 2020.

			Fair Value Measurements at March 31, 2020
			(In Thousands)
	Carrying Value		Total		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents	$	145,217	$	145,217	$	145,217	$	—	$	—
Investment securities		534,206		534,206		—		528,376		5,830
Federal Home Loan Bank Stock		89,252	N/A		N/A		N/A		N/A
Loans receivable, net		5,028,058		5,141,454		—		—		5,141,454
Loans held for sale, carried at fair value		58,222		58,222		—		13,802		44,420
Loans held for sale, carried at lower of cost or market		27,372		28,383		—		28,383		—
Financial Liabilities:
Deposits	$	4,994,148	$	5,003,154	$	3,717,546	$	1,285,608	$	—
Advances from Federal Home Loan Bank		486,000		487,027		—		487,027		—
Securities sold under repurchase agreements		1,961		1,961		—		1,961		—
Subordinated debentures		36,083		36,083		—		36,083		—

			Fair Value Measurements at December 31, 2019
			(In Thousands)
	Carrying Value		Total		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents	$	131,254	$	131,254	$	131,254	$	—	$	—
Investment securities		283,448		283,448		—		280,037		3,411
FHLB Stock		11,915	N/A		N/A		N/A		N/A
Loans, net, including loans held for sale		2,764,329		2,756,092		—		18,456		2,737,636
Financial Liabilities:
Deposits	$	2,870,325	$	2,871,166	$	2,131,537	$	739,629	$	—
Advances from FHLB		85,063		85,003		—		85,003		—
Securities sold under repurchase agreements		2,999		2,999		2,999		—		—
Subordinated debentures		36,083		36,083		—		36,083		—