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FAIR VALUE MEASUREMENTS AND DISCLOSURES (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents the fair value measurement of assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at the dates indicated (in thousands):
December 31, 2018
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
U.S. Agencies
 
$
3,072

 
$

 
$
3,072

 
$

State, county and municipal securities
 
44,088

 
$

 
44,088

 

Mortgage-backed securities
 
365,877

 

 
365,877

 

Corporate debt securities
 
24,717

 

 
24,717

 

   Derivative assets
 
1,067

 

 
1,067

 

Total recurring assets at fair value
 
$
438,821

 
$

 
$
438,821

 
$

 
 
 
 
 
 
 
 
 
December 31, 2017
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
State, county and municipal securities
 
$
22,809

 
$

 
$
22,809

 
$

Mortgage-backed securities
 
259,519

 
$

 
259,519

 

Corporate debt securities
 
24,802

 

 
24,802

 

  Derivative assets
 
1,078

 
$

 
1,078

 

Total recurring assets at fair value
 
$
308,208

 
$

 
$
308,208

 
$



Schedule of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
The following table presents the fair value measurements of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at the dates indicated (in thousands):
 
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
December 31, 2018
 
 
 
 
 
 
 
 
Impaired loans
 
$
3,086

 
$

 
$

 
$
3,086

Loans held-for-sale
 
23,876

 

 
23,876

 

Other real estate
 
1,067

 

 

 
1,067

Assets held-for-sale
 
1,024

 

 
1,024

 

 
 
$
29,053

 
$

 
$
24,900

 
$
4,153

 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
Impaired loans
 
$
10,227

 
$

 
$

 
$
10,227

Loans held-for-sale
 
15,737

 

 
15,737

 

Other real estate
 
2,001

 

 

 
2,001

Assets held-for-sale
 
3,572

 

 
3,572

 

 
 
$
31,537

 
$

 
$
19,309

 
$
12,228

Schedule of Estimated Fair Values of Financial Instruments
The estimated fair values of our financial instruments are as follows at December 31, 2018 and 2017 (in thousands):
 
 
 
 
Fair Value Measurements:
December 31, 2018
 
Carrying
Value
 
Level 1
 
Level 2
 
Level 3
Financial assets:
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
205,371

 
$
205,371

 
$

 
$

Securities available-for-sale
 
437,754

 

 
437,754

 

Securities held-to-maturity
 
37,759

 

 
36,974

 

Loans, net
 
882,355

 

 

 
885,054

  Derivative assets
 
1,067

 

 
1,067

 

Cash surrender value of life insurance policies
 
15,135

 

 
15,135

 

 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 

 
 

 
 

 
 

Non-interest-bearing deposits
 
$
383,167

 

 
383,167

 

Interest-bearing deposits
 
1,068,904

 

 
888,806

 
177,794

Securities sold under agreements to repurchase
 
11,220

 
11,220

 

 

Derivative liability
 

 

 

 

Federal Home Loan Bank advances
 
27,500

 


 
27,500

 

Junior subordinated debentures
 
22,167

 

 
22,167

 

 
 
 
 
Fair Value Measurements
December 31, 2017
 
Carrying
Value
 
Level 1
 
Level 2
 
Level 3
Financial assets:
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
152,964

 
$
152,964

 
$

 
$

Securities available-for-sale
 
309,191

 
2,061

 
307,130

 

Securities held-to-maturity
 
81,052

 

 
80,920

 

Loans, net
 
1,156,538

 

 

 
1,160,614

  Derivative assets
 
1,078

 
$

 
1,078

 

Cash surrender value of life insurance policies
 
14,896

 

 
14,896

 

 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 

 
 

 
 

 
 

Non-interest-bearing deposits
 
416,547

 

 
416,547

 

Interest-bearing deposits
 
1,063,142

 

 
881,139

 
179,110

Derivative liabilities
 

 

 

 

Securities sold under agreements to repurchase
 
67,133

 
67,133

 

 

Federal Home Loan Bank advances
 
50,021

 

 
50,021

 

Junior subordinated debentures
 
22,167

 

 
22,167