Junior Subordinated Debt/Trust Preferred Securities	9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]
Junior Subordinated Debt/Trust Preferred Securities	Junior Subordinated Debt/Trust Preferred Securities Effective September 30, 2009 and beginning with the quarterly interest payment due October 1, 2009, the Company elected to defer interest payments on the Company's $15.0 million of junior subordinated debentures relating to its trust preferred securities. The terms of the debentures and trust indentures allow for the Company to defer interest payments for up to 20 consecutive quarters without default or penalty. During the period that the interest deferrals were elected, the Company continued to record interest expense associated with the debentures. As of June 30, 2014, the Company ended the extension period, paid all accrued and unpaid interest, and is currently making quarterly interest payments. The Company may redeem the junior subordinated debentures at any time at par. During August 2015, the Bank purchased $3.0 million of the Company's junior subordinated debentures related to the Company's trust preferred securities at a fair value discount of 40%. Subsequently, in September 2015, the Company purchased those shares from the Bank and canceled $3.0 million in par value of the junior subordinated debentures, realizing a $78,000 gain on redemption. The contractual principal balance of the Company's debentures relating to its trust preferred securities is $12.0 million as of September 30, 2019. The fair value guidance generally permits the measurement of selected eligible financial instruments at fair value at specified election dates. Effective January 1, 2008, the Company elected the fair value option for its junior subordinated debt issued under USB Capital Trust II. The Company believes the election of fair value accounting for the junior subordinated debentures better reflects the true economic value of the debt instrument on the balance sheet. The rate paid on the junior subordinated debt issued under USB Capital Trust II is 3-month LIBOR plus 129 basis points, and is adjusted quarterly. At September 30, 2019 the Company performed a fair value measurement analysis on its junior subordinated debt using a cash flow model approach to determine the present value of those cash flows. The cash flow model utilizes the forward 3-month LIBOR curve to estimate future quarterly interest payments due over the thirty-year life of the debt instrument. These cash flows were discounted at a rate which incorporates a current market rate for similar-term debt instruments, adjusted for additional credit and liquidity risks associated with the junior subordinated debt. We believe the 4.51% discount rate used represents what a market participant would consider under the circumstances based on current market assumptions. At September 30, 2019, the total cumulative gain recorded on the debt is $2,245,000. The net fair value calculation performed as of September 30, 2019 resulted in a net pretax loss adjustment of $177,000 ($108,000, net of tax) for the nine months ended September 30, 2019, compared to a net pretax loss adjustment of $643,000 ($392,000, net of tax) for the nine months ended September 30, 2018. For the nine months ended September 30, 2019, the net $177,000 ($108,000, net of tax) fair value loss adjustment was separately presented as a $1,571,000 gain ($1,107,000, net of tax) recognized on the consolidated statements of income, and a $1,748,000 loss ($1,233,000, net of tax) associated with the instrument specific credit risk recognized in other comprehensive income. For the nine months ended September 30, 2018, the net $643,000 ($392,000, net of tax) fair value loss adjustment was separately presented as a $923,000 loss ($650,000, net of tax) recognized on the consolidated statements of income, and a $280,000 gain ($197,000, net of tax) associated with the instrument specific credit risk recognized in other comprehensive income. The net fair value calculation performed as of September 30, 2019 resulted in a net pretax loss adjustment of $159,000 ($97,000, net of tax) for the three months ended September 30, 2019 compared to a net pretax loss adjustment of $277,000 (169,000, net of tax) for the three months ended September 30, 2018. For the three months ended September 30, 2019, the net $159,000 ($97,000, net of tax) fair value gain adjustment was separately presented as a $660,000 gain ($465,000, net of tax) recognized on the consolidated statements of income, and a $501,000 loss ($353,000, net of tax) associated with the instrument specific credit risk recognized in other comprehensive income. For the three months ended September 30, 2018, the net $277,000 (169,000, net of tax) fair value loss adjustment was separately presented as a $262,000 loss ($185,000, net of tax) recognized on the consolidated statements of income, and a $14,000 loss ($10,000, net of tax) associated with the instrument specific credit risk recognized in other comprehensive income.

Junior Subordinated Debt/Trust Preferred Securities

Effective September 30, 2009 and beginning with the quarterly interest payment due October 1, 2009, the Company elected to defer interest payments on the Company's $15.0 million of junior subordinated debentures relating to its trust preferred securities. The terms of the debentures and trust indentures allow for the Company to defer interest payments for up to 20 consecutive quarters without default or penalty. During the period that the interest deferrals were elected, the Company continued to record interest expense associated with the debentures. As of June 30, 2014, the Company ended the extension period, paid all accrued and unpaid interest, and is currently making quarterly interest payments. The Company may redeem the junior subordinated debentures at any time at par.

During August 2015, the Bank purchased $3.0 million of the Company's junior subordinated debentures related to the Company's trust preferred securities at a fair value discount of 40%. Subsequently, in September 2015, the Company purchased those shares from the Bank and canceled $3.0 million in par value of the junior subordinated debentures, realizing a $78,000 gain on redemption. The contractual principal balance of the Company's debentures relating to its trust preferred securities is $12.0 million as of September 30, 2019.

The fair value guidance generally permits the measurement of selected eligible financial instruments at fair value at specified election dates. Effective January 1, 2008, the Company elected the fair value option for its junior subordinated debt issued under USB Capital Trust II. The Company believes the election of fair value accounting for the junior subordinated debentures better reflects the true economic value of the debt instrument on the balance sheet. The rate paid on the junior subordinated debt issued under USB Capital Trust II is 3-month LIBOR plus 129 basis points, and is adjusted quarterly.

At September 30, 2019 the Company performed a fair value measurement analysis on its junior subordinated debt using a cash flow model approach to determine the present value of those cash flows. The cash flow model utilizes the forward 3-month LIBOR curve to estimate future quarterly interest payments due over the thirty-year life of the debt instrument. These cash flows were discounted at a rate which incorporates a current market rate for similar-term debt instruments, adjusted for additional credit and liquidity risks associated with the junior subordinated debt. We believe the 4.51% discount rate used represents what a market participant would consider under the circumstances based on current market assumptions. At September 30, 2019, the total cumulative gain recorded on the debt is $2,245,000.

The net fair value calculation performed as of September 30, 2019 resulted in a net pretax loss adjustment of $177,000 ($108,000, net of tax) for the nine months ended September 30, 2019, compared to a net pretax loss adjustment of $643,000 ($392,000, net of tax) for the nine months ended September 30, 2018.

For the nine months ended September 30, 2019, the net $177,000 ($108,000, net of tax) fair value loss adjustment was separately presented as a $1,571,000 gain ($1,107,000, net of tax) recognized on the consolidated statements of income, and a $1,748,000 loss ($1,233,000, net of tax) associated with the instrument specific credit risk recognized in other comprehensive income. For the nine months ended September 30, 2018, the net $643,000 ($392,000, net of tax) fair value loss adjustment was separately presented as a $923,000 loss ($650,000, net of tax) recognized on the consolidated statements of income, and a $280,000 gain ($197,000, net of tax) associated with the instrument specific credit risk recognized in other comprehensive income.

The net fair value calculation performed as of September 30, 2019 resulted in a net pretax loss adjustment of $159,000 ($97,000, net of tax) for the three months ended September 30, 2019 compared to a net pretax loss adjustment of $277,000 (169,000, net of tax) for the three months ended September 30, 2018.

For the three months ended September 30, 2019, the net $159,000 ($97,000, net of tax) fair value gain adjustment was separately presented as a $660,000 gain ($465,000, net of tax) recognized on the consolidated statements of income, and a $501,000 loss ($353,000, net of tax) associated with the instrument specific credit risk recognized in other comprehensive income. For the three months ended September 30, 2018, the net $277,000 (169,000, net of tax) fair value loss adjustment was separately presented as a $262,000 loss ($185,000, net of tax) recognized on the consolidated statements of income, and a $14,000 loss ($10,000, net of tax) associated with the instrument specific credit risk recognized in other comprehensive income.