Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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 June 30, 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)	June 30, 2020		December 31, 2019
Available for Sale Securities Fair Value Measurements Using:
Level 1: Quoted Prices in Active Markets For Identical Assets	$	47,700	$	—
Level 2: Significant Other Observable Inputs	390,024		330,539
Level 3: Significant Unobservable Inputs	12,814		9,398
Securities available for sale measured at fair value	$	450,538	$	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)	June 30, 2020
Balance, beginning of year	$	9,398
Total gains or losses (realized/unrealized):
Included in earnings	—
Included in other comprehensive income	(211)
Purchases, sales, issuances and settlements, net	3,627
Transfers in and/or out of Level 3	—
Balance as of end of period	$	12,814

Fair Value Measurements, Nonrecurring

The following table measures financial assets and financial liabilities measured at fair value on a non-recurring basis as of June 30, 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 June 30, 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	9,879		4,046
Impaired loans measured at fair value	$	9,879	$	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	3,432		4,158
Level 3: Significant Unobservable Inputs	762		721
Other real estate owned measured at fair value	$	4,194	$	4,879