FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Jun. 30, 2020

FAIR VALUE DISCLOSURES

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

(Dollars in thousands)	June 30, 2020		December 31, 2019
Fair value of financial assets:
Level 1 inputs: securities available for sale - equity securities	$	1,187	$	1,147
Level 2 inputs:
Debt securities available for sale
State and municipal securities		64,906		53,279
U.S. Agency Securities:
Collateralized mortgage obligations		44,100		55,989
Mortgage-backed securities		125,245		120,847
Interest rate swaps		10,111		2,638
Total fair value of financial assets	$	245,549	$	233,900
Fair value of financial liabilities:
Level 2 inputs:
Interest rate swaps	$	10,111	$	2,638
Credit risk participation agreement		67	$	—
Total fair value of financial liabilities	$	10,178	$	2,638

Summary of certain assets measured on a nonrecurring basis

	June 30, 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	$	7,470	$	2,403	$	5,067	$	699	$	416	$	283
1-4 family residential		1,507		—		1,507		1,485		15		1,470
Other		1,241		468		773		1,242		6		1,236
	$	10,218	$	2,871	$	7,347	$	3,426	$	437	$	2,989

Summary of fair market values of all financial instruments

	June 30, 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	$	492,400	$	492,400	$	372,064	$	372,064
Level 2 inputs:
Bank-owned life insurance		72,709		72,709		71,881		71,881
Accrued interest receivable		12,999		12,999		8,742		8,742
Servicing asset		143		143		189		189
Level 3 inputs:
Loans, including held for sale, net		2,911,611		2,895,210		2,654,362		2,615,268
Other investments		18,369		18,369		16,710		16,710
Total financial assets	$	3,508,231	$	3,491,830	$	3,123,948	$	3,084,854
Financial liabilities:
Level 1 inputs:
Noninterest-bearing deposits	$	1,513,748	$	1,513,748	$	1,184,861	$	1,184,861
Level 2 inputs:
Interest-bearing deposits		1,802,436		1,740,455		1,651,359		1,667,527
Federal Home Loan Bank advances		51,106		50,000		48,822		50,000
Repurchase agreements		2,499		2,500		485		485
Accrued interest payable		810		810		1,005		1,005
Total financial liabilities	$	3,370,599	$	3,307,513	$	2,886,532	$	2,903,878