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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

 
—