Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of assets reported on the balance sheet at their fair value on a recurring basis

The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a recurring basis as of March 31, 2019 and December 31, 2018, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.



	March 31, 2019
(In Thousands)	Level I		Level II		Level III		Total
Assets measured on a recurring basis:
Investment securities, available for sale:
Mortgage-backed securities	$	—	$	5,980	$	—	$	5,980
State and political securities	—		86,958		—		86,958
Other debt securities	—		48,824		—		48,824
Investment equity securities:
Financial institution equity securities	580		—		—		580
Other equity securities	1,239		—		—		1,239
Investment securities, trading:
Other equity securities	42		—		—		42



	December 31, 2018
(In Thousands)	Level I		Level II		Level III		Total
Assets measured on a recurring basis:
Investment securities, available for sale:
Mortgage-backed securities	$	—	$	6,153	$	—	$	6,153
State and political securities	—		79,541		—		79,541
Other debt securities	—		48,591		—		48,591
Financial institution equity securities	552		—		—		552
Other equity securities	1,224		—		—		1,224
Investment securities, trading:
Other equity securities	36		—		—		36

Schedule of assets reported on the consolidated balance sheet at their fair value on a non-recurring basis

The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a non-recurring basis as of March 31, 2019 and December 31, 2018, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.



	March 31, 2019
(In Thousands)	Level I		Level II		Level III		Total
Assets measured on a non-recurring basis:
Impaired loans	$	—	$	—	$	17,879	$	17,879
Other real estate owned	—		—		325		325



	December 31, 2018
(In Thousands)	Level I		Level II		Level III		Total
Assets measured on a non-recurring basis:
Impaired loans	$	—	$	—	$	18,704	$	18,704
Other real estate owned	—		—		402		402

Schedule of listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques

The following tables present a listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques as of March 31, 2019 and December 31, 2018:

March 31, 2019

Quantitative Information About Level III Fair Value Measurements

(In Thousands)

Fair Value

Valuation Technique(s)

Unobservable Inputs

Range

Weighted Average

Impaired loans

11,607

Discounted cash flow

Temporary reduction in payment amount

17% to (70)%

(35)%

6,272

Appraisal of collateral (1)

Appraisal adjustments (1)

0 to (40)%

(6)%

Other real estate owned

325

Appraisal of collateral (1)

Appraisal adjustments (1)

(20)%

(1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.

December 31, 2018

Quantitative Information About Level III Fair Value Measurements

(In Thousands)

Fair Value

Valuation Technique(s)

Unobservable Inputs

Range

Weighted Average

Impaired loans

12,929

Discounted cash flow

Temporary reduction in payment amount

7 to (70)%

(6)%

5,775

Appraisal of collateral (1)

Appraisal adjustments (1)

0 to (90)%

(20)%

Other real estate owned

402

Appraisal of collateral (1)

Appraisal adjustments (1)

(20)%

(1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.