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Fair Value (Tables)
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis
Assets and liabilities measured at fair value on a recurring basis are as follows at December 31, 2020 and December 31, 2019:
  Fair Value Measurements at December 31, 2020 Using
DescriptionTotalQuoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs
(Level 3)
Assets:
Securities Available For Sale:
U.S. Government sponsored entities$157,042 $$157,042 $
States and political subdivisions70,883 70,819 64 
Residential and multi-family mortgage315,192 15,039 300,153 
Corporate notes and bonds14,926 14,926 
Pooled SBA25,886 25,886 
Other979 979 
Total Securities Available For Sale$584,908 $16,018 $568,826 $64 
Interest rate swaps$4,017 $$4,017 $
Trading Securities:
Corporate equity securities$4,343 $4,343 $$
Mutual funds1,283 1,283 
Certificates of deposit404 404 
Corporate notes and bonds569 569 
U.S. Government sponsored entities50 50 
Total Trading Securities$6,649 $6,599 $50 $
Liabilities
Interest rate swaps$(4,785)$$(4,785)$

  Fair Value Measurements at December 31, 2019 Using
DescriptionTotalQuoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs
(Level 3)
Assets:
Securities Available For Sale:
U.S. Government sponsored entities$127,094 $$127,094 $
States and political subdivisions104,363 104,363 
Residential and multi-family mortgage276,636 273,841 2,795 
Corporate notes and bonds8,082 8,082 
Pooled SBA25,174 25,174 
Other964 964 
Total Securities Available For Sale$542,313 $964 $538,554 $2,795 
Interest rate swaps$1,877 $$1,877 $
Trading Securities:
Corporate equity securities$7,946 $7,946 $$
Mutual funds807 807 
Certificates of deposit350 350 
Corporate notes and bonds655 655 
U.S. Government sponsored entities51 51 
Total Trading Securities$9,809 $9,758 $51 $
Liabilities
Interest rate swaps$(2,362)$$(2,362)$
Securities Available for Sale Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)
The table below presents a reconciliation of the fair value of securities available for sale measured on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2020 and 2019, respectively: 

States and Political SubdivisionsResidential & Multi-Family Mortgage
Balance, January 1, 2020$$2,795 
Purchases422 
Total gains or (losses):
Included in other comprehensive income (loss)
Transfers out of Level 3(358)$(2,795)
Balance, December 31, 2020$64 $

 Residential & Multi-Family Mortgage
Balance, January 1, 2019$
Purchases2,796 
Total gains or (losses):
Included in other comprehensive income (loss)(1)
Balance, December 31, 2019$2,795 
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis
Assets and liabilities measured at fair value on a non-recurring basis are as follows at December 31, 2020 and December 31, 2019: 
  Fair Value Measurements at December 31, 2020 Using
DescriptionTotalQuoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Assets:
Collateral-dependent loans:
Farmland$659 $659 
Owner-occupied, nonfarm nonresidential properties329 329 
Commercial and industrial3,680 3,680 
Other construction loans and all land development loans and other land loans1,790 1,790 
Multifamily (5 or more) residential properties
Non-owner occupied, nonfarm nonresidential9,622 9,622 
Residential mortgages secured by first liens659 659 

  Fair Value Measurements at December 31, 2019 Using
DescriptionTotalQuoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Assets:
Impaired loans:
Commercial, industrial, and agricultural$2,910 $2,910 
Commercial mortgages1,147 1,147 
Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Non Recurring Basis
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2020:
Fair
value
Valuation
Technique
Unobservable InputsRange
(Weighted
Average)
Collateral-dependent loans - Farmland$659 Valuation of third party appraisal on underlying collateralLoss severity rates
45%-54% (47%)
Collateral-dependent loans - Owner-occupied, nonfarm nonresidential properties329 Valuation of third party appraisal on underlying collateralLoss severity rates
60%-90% (80%)
Collateral-dependent loans - Commercial and industrial3,680 Valuation of third party appraisal on underlying collateralLoss severity rates
0%-100% (39%)
Collateral-dependent loans - Other construction loans and all land development loans and other land loans1,790 Valuation of third party appraisal on underlying collateralLoss severity rates
25%-41% (28%)
Collateral-dependent loans - Multifamily (5 or more) residential propertiesValuation of third party appraisal on underlying collateralLoss severity rates
58% (58%)
Collateral-dependent loans - Non-owner occupied, nonfarm nonresidential9,622 Valuation of third party appraisal on underlying collateralLoss severity rates
25%-100% (29%)
Collateral-dependent loans - Residential mortgages secured by first liens659 Valuation of third party appraisal on underlying collateralLoss severity rates
31% (31%)

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2019: 
Fair
value
Valuation
Technique
Unobservable InputsRange (Weighted
Average)
Impaired loans – commercial, industrial, and agricultural$2,910Valuation of third party appraisal on underlying collateralLoss severity rates
0%-100% (54%)
Impaired loans – commercial mortgages$1,147Valuation of third party appraisal on underlying collateralLoss severity rates
25%-100% (52%)
Carrying Amount and Fair Value of Financial Instruments
The following table presents the carrying amount and fair value of financial instruments at December 31, 2020: 
 Carrying
Amount
Fair Value Measurement Using:Total
Fair Value
 Level 1Level 2Level 3
ASSETS
Cash and cash equivalents$532,694 $532,694 $$$532,694 
Securities available for sale584,908 16,018 568,826 64 584,908 
Trading securities6,649 6,599 50 6,649 
Loans held for sale8,514 8,617 8,617 
Net loans3,337,449 3,339,482 3,339,482 
FHLB and other equity interests21,018 n/an/an/an/a
Interest rate swaps4,017 4,017 4,017 
Accrued interest receivable17,659 61 2,152 15,446 17,659 
LIABILITIES
Deposits$(4,181,744)$(3,705,200)$(488,000)$$(4,193,200)
FHLB and other borrowings
Subordinated debentures(70,620)(62,583)(62,583)
Interest rate swaps(4,785)(4,785)(4,785)
Accrued interest payable(1,096)(1,096)(1,096)

The following table presents the carrying amount and fair value of financial instruments at December 31, 2019:
 Carrying
Amount
Fair Value Measurement Using:Total
Fair Value
 Level 1Level 2Level 3
ASSETS
Cash and cash equivalents$192,974 $192,974 $$$192,974 
Securities available for sale542,313 964 538,554 2,795 542,313 
Trading securities9,809 9,758 51 9,809 
Loans held for sale930 933 933 
Net loans2,784,562 2,778,914 2,778,914 
FHLB and other equity interests27,868 n/an/an/an/a
Interest rate swaps1,877 1,877 1,877 
Accrued interest receivable11,486 3,238 8,242 11,486 
LIABILITIES
Deposits$(3,102,327)$(2,674,511)$(432,287)$$(3,106,798)
FHLB and other borrowings(227,907)(230,679)(230,679)
Subordinated debentures(70,620)(64,084)(64,084)
Interest rate swaps(2,362)(2,632)(2,632)
Accrued interest payable(1,597)(1,597)(1,597)