XML 69 R24.htm IDEA: XBRL DOCUMENT v3.20.1
Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2020
Fair Value of Financial Instruments [Abstract]  
Book Value and Estimated Fair Value of Financial Instruments
The following tables summarize the book value and estimated fair value of financial instruments for the periods indicated:

     
Fair Value of Financial Instruments Using
    
March 31, 2020
(in thousands)
 
Carrying
Amount
  
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
  
Total
Estimated
Fair Value
 
Assets:
               
Cash and Cash Equivalents
 
$
282,960
  
$
282,960
  
$
-
  
$
-
  
$
282,960
 
 
                    
Investment Securities Available-for-Sale
  
532,246
   
20,606
   
511,640
   
-
   
532,246
 
 
                    
Investment Securities Held-to-Maturity
  
58,701
   
-
   
29,296
   
30,207
   
59,503
 
 
                    
Loans & Leases, Net
  
2,615,285
   
-
   
-
   
2,605,120
   
2,605,120
 
Accrued Interest Receivable
  
12,541
   
-
   
12,541
   
-
   
12,541
 
                     
Liabilities:
                    
Deposits
  
3,255,273
   
2,733,525
   
524,013
   
-
   
3,257,538
 
Subordinated Debentures
  
10,310
   
-
   
7,415
   
-
   
7,415
 
Accrued Interest Payable
  
2,430
   
-
   
2,430
   
-
   
2,430
 

     
Fair Value of Financial Instruments Using
    
December 31, 2019
(in thousands)
 
Carrying
Amount
  
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
  
Total
Estimated
Fair Value
 
Assets:
               
Cash and Cash Equivalents
 
$
294,758
  
$
294,758
  
$
-
  
$
-
  
$
294,758
 
 
                    
Investment Securities Available-for-Sale
  
507,386
   
55,200
   
452,186
   
-
   
507,386
 
 
                    
Investment Securities Held-to-Maturity
  
60,229
   
-
   
31,253
   
29,844
   
61,097
 
 
                    
Loans & Leases, Net
  
2,618,015
   
-
   
-
   
2,584,805
   
2,584,805
 
Accrued Interest Receivable
  
16,733
   
-
   
16,733
   
-
   
16,733
 
                     
Liabilities:
                    
Deposits
  
3,278,019
   
2,760,097
   
517,172
   
-
   
3,277,269
 
Subordinated Debentures
  
10,310
   
-
   
7,325
   
-
   
7,325
 
Accrued Interest Payable
  
2,795
   
-
   
2,795
   
-
   
2,795
 

     
Fair Value of Financial Instruments Using
    
March 31, 2019
(in thousands)
 
Carrying
Amount
  
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
  
Total
Estimated
Fair Value
 
Assets:
               
Cash and Cash Equivalents
 
$
97,810
  
$
97,810
  
$
-
  
$
-
  
$
97,810
 
 
                    
Investment Securities Available-for-Sale
  
491,289
   
164,877
   
321,769
   
4,643
   
491,289
 
 
                    
Investment Securities Held-to-Maturity
  
54,412
   
-
   
36,705
   
18,276
   
54,981
 
 
                    
Loans & Leases, Net
  
2,509,061
   
-
   
-
   
2,490,197
   
2,490,197
 
Accrued Interest Receivable
  
12,524
   
-
   
12,524
   
-
   
12,524
 
                     
Liabilities:
                    
Deposits
  
3,008,040
   
2,483,258
   
521,321
   
-
   
3,004,579
 
Subordinated Debentures
  
10,310
   
-
   
7,600
   
-
   
7,600
 
Accrued Interest Payable
  
2,193
   
-
   
2,193
   
-
   
2,193