FAIR VALUE DISCLOSURES (Tables)

12 Months Ended

Dec. 31, 2019

FAIR VALUE DISCLOSURES [Abstract]

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

The following table summarizes fair value measurements as of December 31:

	Level 1		Level 2			Level 3		Total
2019
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
U.S. government and agencies	$	—	$	4,807		$	—	$	4,807
State and municipal		—		94,692			—		94,692
Mortgage-backed securities		—		571,805			—		571,805
Asset-backed and other amortizing securities		—		36,346			—		36,346
Loans held for sale (mandatory)		—		32,809			—		32,809
Mortgage servicing rights		—		2,054			—		2,054
Asset derivatives		—		814			—		814
Liability derivatives		—		(492	)		—		(492	)
Assets measured at fair value on a non-recurring basis:
Impaired loans		—		—			3,642		3,642
Other real estate owned		—		—			1,883		1,883
Loans held for sale (best efforts)		—		16,226			—		16,226

	Level 1		Level 2			Level 3		Total
2018
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
U.S. government and agencies	$	74,419	$	10,288		$	—	$	84,707
State and municipal		—		32,310			—		32,310
Mortgage-backed securities		—		182,256			—		182,256
Asset-backed and other amortizing securities		—		38,923			—		38,923
Loans held for sale (mandatory)		—		31,874			—		31,874
Mortgage servicing rights		—		1,270			—		1,270
Asset derivatives		—		1,232			—		1,232
Liability derivatives		—		(672	)		—		(672	)
Assets measured at fair value on a non-recurring basis:
Impaired loans		—		—			9,119		9,119
Other real estate owned		—		—			2,285		2,285
Loans held for sale (best efforts)		—		6,508			—		6,508

Quantitative Information about Non-Recurring Level 3 Fair Value Measurements

The following table presents quantitative information about non-recurring Level 3 fair value measurements at December 31:

	Fair Value		Valuation Techniques	Unobservable Inputs	Range of Discounts
2019
Impaired loans	$	3,642	Third party appraisals or inspections	Collateral discounts and selling costs		0%-100	%
Other real estate owned		1,883	Third party appraisals or inspections	Collateral discounts and selling costs		15%-66	%
2018
Impaired loans	$	9,119	Third party appraisals or inspections	Collateral discounts and selling costs		0%-100	%
Other real estate owned		2,285	Third party appraisals or inspections	Collateral discounts and selling costs		15%-66	%

Summary of Carrying Amounts of Financial Instruments

The following table summarizes carrying value measurements as of December 31:

	Carrying Amount		Level 1		Level 2		Level 3		Total
2019
Financial assets:
Cash and cash equivalents	$	158,099	$	158,099	$	—	$	—	$	158,099
Loans, net		2,119,426		—		—		2,123,289		2,123,289
Accrued interest receivable		13,924		—		13,924		—		13,924
Bank-owned life insurance		69,397		—		69,397		—		69,397
Financial liabilities:
Deposits		2,696,857		2,354,999		346,194		—		2,701,193
Accrued interest payable		2,283		—		2,283		—		2,283
Notes payable & other borrowings		95,000		—		95,000		—		95,000
Junior subordinated deferrable interest debentures		46,393		—		46,393		—		46,393
Subordinated debt securities		26,472		—		26,472		—		26,472

	Carrying Amount		Level 1		Level 2		Level 3		Total
2018
Financial assets:
Cash and cash equivalents	$	245,989	$	245,989	$	—	$	—	$	245,989
Loans, net		1,934,071		—		—		1,923,830		1,923,830
Accrued interest receivable		12,957		—		12,957		—		12,957
Bank-owned life insurance		57,172		—		57,172		—		57,172
Financial liabilities:
Deposits		2,277,454		1,965,925		299,423		—		2,265,348
Accrued interest payable		2,042		—		2,042		—		2,042
Notes payable & other borrowings		95,000		—		95,000		—		95,000
Junior subordinated deferrable interest debentures		46,393		—		46,393		—		46,393
Subordinated debt securities		34,002		—		34,002		—		34,002