Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Financial Assets and Financial Liabilities Measured at Fair Value

The following table summarizes financial assets and financial liabilities measured at fair value as of September 30, 2018 and December 31, 2017, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands):

			Fair Value Measurements at Reporting Date Using:
	Total Fair Value		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
September 30, 2018
Items measured on a recurring basis:
Debt securities available-for-sale	$	100,015	$	—	$	100,015	$	—
Equity investments	9,519		9,519		—		—
Interest rate swap asset	557		—		557		—
Interest rate swap liability	636		—		636		—
Items measured on a non-recurring basis:
Other real estate owned	6,231		—		—		6,231
Loans measured for impairment based on the fair value of the underlying collateral	13,001		—		—		13,001
December 31, 2017
Items measured on a recurring basis:
Debt securities available-for-sale	$	81,581	$	—	$	81,581	$	—
Equity investments	8,700		8,700		—		—
Items measured on a non-recurring basis:
Other real estate owned	8,186		—		—		8,186
Loans measured for impairment based on the fair value of the underlying collateral	16,496		—		—		16,496

Book Value and Estimated Fair Value of Bank's Significant Financial Instruments Not Recorded at Fair Value

The book value and estimated fair value of the Bank’s significant financial instruments not recorded at fair value as of September 30, 2018 and December 31, 2017 are presented in the following tables (in thousands):

			Fair Value Measurements at Reporting Date Using:
September 30, 2018	Book Value		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets:
Cash and due from banks	$	148,362	$	148,362	$	—	$	—
Debt securities held-to-maturity	883,540		—		852,348		11,825
Restricted equity investments	57,143		—		—		57,143
Loans receivable, net and loans held-for-sale (1)	5,544,691		—		—		5,464,517
Financial Liabilities:
Deposits other than time deposits	5,001,139		—		5,001,139		—
Time deposits	853,111		—		836,692		—
Federal Home Loan Bank advances and other borrowings	556,279		—		559,107		—
Securities sold under agreements to repurchase with retail customers	61,044		61,044		—		—

			Fair Value Measurements at Reporting Date Using:
December 31, 2017	Book Value		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Financial Assets:
Cash and due from banks	$	109,613	$	109,613	$	—	$	—
Debt securities held-to-maturity	764,062		—		751,182		10,478
Restricted equity investments	19,724		—		—		19,724
Loans receivable, net and loans held-for-sale (1)	3,966,014		—		—		3,962,689
Financial Liabilities:
Deposits other than time deposits	3,735,694		—		3,735,694		—
Time deposits	607,104		—		599,677		—
Federal Home Loan Bank advances and other borrowings	345,210		—		341,820		—
Securities sold under agreements to repurchase with retail customers	79,668		79,668		—		—

(1) In accordance with the prospective adoption of ASU 2016-01, the fair value of loans was measured using the exit price notion as of September 30, 2018. The fair value of loans was measured using the entry price notion as of December 31, 2017.