Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following table summarizes financial assets measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: 

(in thousands)	March 31, 2020		December 31, 2019
Available for Sale Securities Fair Value Measurements Using:
Level 1: Quoted Prices in Active Markets For Identical Assets	$	15,000	$	—
Level 2: Significant Other Observable Inputs	408,924		330,539
Level 3: Significant Unobservable Inputs	10,002		9,398
Securities available for sale measured at fair value	$	433,926	$	339,937

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table reconciles assets measured at fair value on a recurring basis using unobservable inputs (Level 3):

	Level 3 Changes
(in thousands)	March 31, 2020
Balance, beginning of year	$	9,398
Total gains or losses (realized/unrealized):
Included in earnings	—
Included in other comprehensive income	(340)
Purchases, sales, issuances and settlements, net	(56)
Transfers in and/or out of Level 3	1,000
Balance as of end of period	$	10,002

Fair Value Measurements, Nonrecurring

The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of March 31, 2020 and December 31, 2019, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value: 

(in thousands)	At March 31, 2020		At December 31, 2019
Impaired Loans - Fair Value Measurements Using:
Level 1: Quoted Prices in Active Markets For Identical Assets	$	—	$	—
Level 2: Significant Other Observable Inputs	—		—
Level 3: Significant Unobservable Inputs	4,328		4,046
Impaired loans measured at fair value	$	4,328	$	4,046
Other Real Estate Owned - Fair Value Measurements Using:
Level 1: Quoted Prices in Active Markets For Identical Assets	$	—	$	—
Level 2: Significant Other Observable Inputs	3,564		4,158
Level 3: Significant Unobservable Inputs	821		721
Other real estate owned measured at fair value	$	4,385	$	4,879