Financial Instruments (Tables)

9 Months Ended

Sep. 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 September 30, 2020 were as follows:

			Fair Value Measurements at September 30, 2020 Using
(in thousands)	Carrying Amount		Level 1		Level 2		Level 3		Total
Assets
Cash and due from banks	$	191,533	$	191,533	$	—	$	—	$	191,533
Federal funds sold	773		773		—		—		773
Securities, available for sale	416,319		43,700		367,962		4,657		416,319
Loans held for sale	235		—		—		235		235
Loans, net	1,774,128		—		—		1,808,607		1,808,607
Cash surrender value of BOLI	5,392		—		—		5,392		5,392
Accrued interest receivable	16,287		—		—		16,287		16,287
Liabilities
Deposits	$	2,193,244	$	—	$	—	$	2,207,412	2,207,412
Short-term advances from Federal Home Loan Bank	50,000		—		—		50,000		50,000
Repurchase agreements	6,895		—		—		6,895		6,895
Accrued interest payable	5,358		—		—		5,358		5,358
Long-term advances from Federal Home Loan Bank	3,404		—		—		3,404		3,404
Senior long-term debt	43,926		—		—		43,956		43,956
Junior subordinated debentures	14,767		—		—		15,088		15,088

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