FAIR VALUE DISCLOSURES (Tables)

3 Months Ended

Mar. 31, 2020

FAIR VALUE DISCLOSURES

Summary financial assets and financial liabilities measured at fair value on a recurring basis

(Dollars in thousands)	March 31, 2020		December 31, 2019
Fair value of financial assets:
Level 1 inputs: securities available for sale - equity securities	$	1,171	$	1,147
Level 2 inputs:
Debt securities available for sale
State and municipal securities		50,886		53,279
U.S. Agency Securities:
Collateralized mortgage obligations		53,065		55,989
Mortgage-backed securities		128,892		120,847
Interest rate swaps		9,092		2,638
Total fair value of financial assets	$	243,106	$	233,900
Fair value of financial liabilities:
Level 2 inputs: interest rate swaps	$	9,092	$	2,638
Total fair value of financial liabilities	$	9,092	$	2,638

Summary of certain assets measured on a non‑recurring basis

	March 31, 2020						December 31, 2019
(Dollars in thousands)	Recorded Investment		Specific ACL		Net		Recorded Investment		Specific ACL		Net
Level 3 inputs
Loans evaluated individually
Commercial and industrial	$	1,528	$	409	$	1,119	$	999	$	416	$	583
1-4 family residential		3,703		—		3,703		3,651		15		3,636
Other		8,267		—		8,267		6,653		6		6,647
	$	13,498	$	409	$	13,089	$	11,303	$	437	$	10,866

Summary of fair market values of all financial instruments

	March 31, 2020				December 31, 2019
			Carrying				Carrying
(Dollars in thousands)	Fair Value		Amount		Fair Value		Amount
Financial assets:
Level 1 inputs:
Cash and due from banks	$	284,898	$	284,898	$	372,064	$	372,064
Level 2 inputs:
Bank-owned life insurance		72,297		72,297		71,881		71,881
Accrued interest receivable		8,653		8,653		8,742		8,742
Servicing asset		152		152		189		189
Level 3 inputs:
Loans, including held for sale, net		2,611,139		2,641,275		2,654,362		2,615,268
Other investments		16,807		16,807		16,710		16,710
Total financial assets	$	2,993,946	$	3,024,082	$	3,123,948	$	3,084,854
Financial liabilities:
Level 1 inputs:
Noninterest-bearing deposits	$	1,214,222	$	1,195,541	$	1,184,861	$	1,184,861
Level 2 inputs:
Interest-bearing deposits		1,595,014		1,596,692		1,651,359		1,667,527
Federal Home Loan Bank advances		50,727		50,000		48,822		50,000
Repurchase agreements		1,414		1,415		485		485
Accrued interest payable		1,049		1,049		1,005		1,005
Total financial liabilities	$	2,862,426	$	2,844,697	$	2,886,532	$	2,903,878