Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Financial Instruments, Owned, at Fair Value [Abstract]

Schedule of Estimated Fair Values and Carrying Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at June 30, 2020 were as follows:

			Fair Value Measurements at June 30, 2020 Using
(in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total
Assets
Cash and due from banks	$	236,365	$	236,365	$	—	$	—	$	236,365
Federal funds sold	778		778		—		—		778
Securities, available for sale	450,538		47,700		390,024		12,814		450,538
Loans held for sale	280		—		—		280		280
Loans, net	1,626,706		—		—		1,657,356		1,657,356
Cash surrender value of BOLI	5,322		—		—		5,322		5,322
Accrued interest receivable	16,339		—		—		16,339		16,339
Liabilities
Deposits	$	2,120,998	$	—	$	—	$	2,141,119	2,141,119
Short-term advances from Federal Home Loan Bank	50,000		—		—		50,000		50,000
Repurchase agreements	6,569		—		—		6,569		6,569
Accrued interest payable	5,377		—		—		5,377		5,377
Long-term advances from Federal Home Loan Bank	3,443		—		—		3,443		3,443
Senior long-term debt	45,470		—		—		45,504		45,504
Junior subordinated debentures	14,757		—		—		15,149		15,149

The carrying amounts and estimated fair values of financial instruments at December 31, 2019 were as follows:

			Fair Value Measurements at December 31, 2019 Using
(in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total
Assets
Cash and due from banks	$	66,511	$	66,511	$	—	$	—	$	66,511
Federal funds sold	914		914		—		—		914
Securities, available for sale	339,937		—		330,539		9,398		339,937
Securities, held for maturity	86,579		—		86,817		—		86,817
Loans, net	1,514,561		—		—		1,515,277		1,515,277
Cash surrender value of BOLI	5,288		—		—		5,288		5,288
Accrued interest receivable	8,412		—		—		8,412		8,412
Liabilities
Deposits	$	1,853,013	$	—	$	—	$	1,863,179	1,863,179
Short-term advances from Federal Home Loan Bank	13,079		—		—		13,079		13,079
Repurchase agreements	6,840		—		—		6,840		6,840
Accrued interest payable	6,047		—		—		6,047		6,047
Long-term advances from Federal Home Loan Bank	3,533		—		—		3,533		3,533
Senior long-term debt	48,558		—		—		48,599		48,599
Junior subordinated debentures	14,737		—		—		14,762		14,762