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FAIR VALUE MEASUREMENTS AND DISCLOSURES (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
Below is a table that presents information about certain assets and liabilities measured at fair value on a recurring basis (in thousands):
 
 
Assets / Liabilities
Measured at Fair Value at December 31, 2016
 
Fair Value Measurements
at December 31, 2016
Description
 
 
Level 1
 
Level 2
 
Level 3
Available-for-sale securities:
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
29,141

 
$

 
$
29,141

 
$

GSE mortgage-backed securities
 
73,578

 

 
73,578

 

Collateralized mortgage obligations: residential
 
220,202

 

 
220,202

 

Collateralized mortgage obligations: commercial
 
3,082

 

 
3,082

 

Mutual funds
 
2,059

 
2,059

 

 

Corporate debt securities
 
13,811

 

 
13,811

 

Total available-for-sale securities
 
$
341,873

 
$
2,059

 
$
339,814

 
$

 
 
 
 
 
 
 
 
 
Derivative instruments
 
$
989

 
$

 
$
989

 
$


 
 
Assets / Liabilities
Measured at Fair Value at December 31, 2015
 
Fair Value Measurements
at December 31, 2015
Description
 
 
Level 1
 
Level 2
 
Level 3
Available-for-sale securities:
 
 
 
 
 
 
 
 
Obligations of state and political subdivisions
 
$
31,493

 
$

 
$
31,493

 
$

GSE mortgage-backed securities
 
87,038

 

 
87,038

 

Collateralized mortgage obligations: residential
 
192,088

 

 
192,088

 

Collateralized mortgage obligations: commercial
 
5,448

 

 
5,448

 

Mutual funds
 
2,092

 
2,092

 

 

Total available-for-sale securities
 
$
318,159

 
$
2,092

 
$
316,067

 
$

Schedule of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Assets measured at fair value on a nonrecurring basis are as follows (in thousands):
 
 
Assets / Liabilities
Measured at Fair Value at December 31, 2016
 
Fair Value Measurements
at December 31, 2016
Description
 
 
Level 1
 
Level 2
 
Level 3
Impaired loans
 
$
26,956

 
$

 
$
26,956

 
$

Other real estate
 
2,175

 

 
2,175

 


 
 
Assets / Liabilities
Measured at Fair Value at December 31, 2015
 
Fair Value Measurements
at December 31, 2015
Description
 
 
Level 1
 
Level 2
 
Level 3
Impaired loans
 
$
17,487

 
$

 
$
17,487

 
$

Other real estate
 
4,187

 

 
4,187

 

Schedule of Estimated Fair Values of Financial Instruments
The estimated fair values of our financial instruments are as follows at December 31, 2016 and 2015 (in thousands):
 
 
 
 
Fair Value Measurements at
December 31, 2016 Using:
 
 
Carrying
Value
 
Level 1
 
Level 2
 
Level 3
Financial assets:
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
82,228

 
$
82,228

 
$

 
$

Securities available-for-sale
 
341,873

 
2,059

 
326,003

 

Securities held-to-maturity
 
98,211

 

 
98,261

 

Other investments
 
11,355

 
11,355

 

 

Loans, net
 
1,259,710

 

 
26,956

 
1,236,133

Cash surrender value of life insurance policies
 
14,335

 

 
14,335

 

Derivative asset
 
989

 

 
989

 

Financial liabilities:
 
 

 
 

 
 

 
 

Non-interest-bearing deposits
 
414,921

 

 
414,921

 

Interest-bearing deposits
 
1,164,509

 

 
1,012,633

 
150,879

Securities sold under agreements to repurchase
 
94,461

 
94,461

 

 

Long-term Federal Home Loan Bank advances
 
25,424

 

 
25,808

 

Junior subordinated debentures
 
22,167

 

 
22,167

 

 
 
 
 
Fair Value Measurements at
December 31, 2015 Using:
 
 
Carrying
Value
 
Level 1
 
Level 2
 
Level 3
Financial assets:
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
89,201

 
$
89,201

 
$

 
$

Securities available-for-sale
 
318,159

 
2,092

 
316,067

 

Securities held-to-maturity
 
116,792

 

 
117,698

 

Other investments
 
11,188

 
11,188

 

 

Loans, net
 
1,244,634

 

 
17,487

 
1,232,497

Cash surrender value of life insurance policies
 
13,622

 

 
13,622

 

Financial liabilities:
 
 

 
 

 
 

 
 

Non-interest-bearing deposits
 
374,261

 

 
374,261

 

Interest-bearing deposits
 
1,176,589

 

 
1,007,137

 
168,633

Securities sold under agreements to repurchase
 
85,957

 
85,957

 

 

Short-term Federal Home Loan Bank advances
 
25,000

 

 
25,000

 

Long-term Federal Home Loan Bank advances
 
25,851

 

 

 
26,508

Junior subordinated debentures
 
22,167

 

 
22,167