Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value for the periods indicated.

			Fair Value Measurements At September 30, 2018, Using
(in thousands)	Fair Value Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available-for-Sale Securities:
Government Agency & Government-Sponsored Entities	$	3,052	$	-	$	3,052	$	-
US Treasury Notes		164,208		164,208		-		-
US Govt SBA		16,973		-		16,973		-
Mortgage Backed Securities		271,067		-		271,067		-
Other		3,011		201		310		2,500
Total Assets Measured at Fair Value On a Recurring Basis	$	458,311	$	164,409	$	291,402	$	2,500

			Fair Value Measurements At December 31, 2017, Using
(in thousands)	Fair Value Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available-for-Sale Securities:
Government Agency & Government-Sponsored Entities	$	3,128	$	-	$	3,128	$	-
US Treasury Notes		144,164		144,164		-		-
US Govt SBA		29,380		-		29,380		-
Mortgage Backed Securities		301,914		-		301,914		-
Other		3,010		200		310		2,500
Total Assets Measured at Fair Value On a Recurring Basis	$	481,596	$	144,364	$	334,732	$	2,500

			Fair Value Measurements At September 30, 2017, Using
(in thousands)	Fair Value Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available-for-Sale Securities:
Government Agency & Government-Sponsored Entities	$	3,169	$	-	$	3,169	$	-
US Treasury Notes		144,410		144,410		-		-
US Govt SBA		31,691		-		31,691		-
Mortgage Backed Securities		276,043		-		276,043		-
Other		1,010		200		310		500
Total Assets Measured at Fair Value On a Recurring Basis	$	456,323	$	144,610	$	311,213	$	500

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The following tables present information about the Company’s other real estate and impaired loans or leases, classes of assets or liabilities that the Company carries at fair value on a non-recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value for the periods indicated. Not all impaired loans or leases are carried at fair value. Impaired loans or leases are only included in the following tables when their fair value is based upon a current appraisal of the collateral, and if that appraisal results in a partial charge-off or the establishment of a specific reserve.

			Fair Value Measurements At September 30, 2018, Using
(in thousands)	Fair Value Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired Loans
Commercial Real Estate	$	2,596	$	-	$	-	$	2,596
Residential 1st Mortgage		1,476		-		-		1,476
Home Equity Lines and Loans		71		-		-		71
Commercial		1,478		-		-		1,478
Total Impaired Loans		5,621		-		-		5,621
Other Real Estate
Real Estate Construction		873		-		-		873
Total Other Real Estate		873		-		-		873
Total Assets Measured at Fair Value On a Non-Recurring Basis	$	6,494	$	-	$	-	$	6,494

			Fair Value Measurements At December 31, 2017, Using
(in thousands)	Fair Value Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired Loans:
Commercial Real Estate	$	2,595	$	-	$	-	$	2,595
Residential 1st Mortgage		997		-		-		997
Home Equity Lines and Loans		75		-		-		75
Commercial		1,514		-		-		1,514
Total Impaired Loans		5,181		-		-		5,181
Other Real Estate:
Real Estate Construction		873		-		-		873
Total Other Real Estate		873		-		-		873
Total Assets Measured at Fair Value On a Non-Recurring Basis	$	6,054	$	-	$	-	$	6,054

			Fair Value Measurements At September 30, 2017, Using
(in thousands)	Fair Value Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired Loans
Commercial Real Estate	$	2,594	$	-	$	-	$	2,594
Residential 1st Mortgage		491		-		-		491
Home Equity Lines and Loans		78		-		-		78
Agricultural		298		-		-		298
Commercial		1,519		-		-		1,519
Total Impaired Loans		4,980		-		-		4,980
Other Real Estate
Real Estate Construction		873		-		-		873
Total Other Real Estate		873		-		-		873
Total Assets Measured at Fair Value On a Non-Recurring Basis	$	5,853	$	-	$	-	$	5,853

Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on a Nonrecurring Basis

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at September 30, 2018:

(in thousands)	Fair Value		Valuation Technique	Unobservable Inputs	Range, Weighted Avg.
Impaired Loans
Commercial Real Estate	$	2,596	Income Approach	Capitalization Rate		3.25%, 3.25	%
Residential 1st Mortgage	$	1,476	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		1% -4%, 3	%
Home Equity Lines and Loans	$	71	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		1% - 2%, 1	%
Commercial	$	1,478	Income Approach	Capitalization Rate		2.95% - 8.70%, 3.40	%

Other Real Estate
Real Estate Construction	$	873	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		10%, 10	%