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Fair Value Of Assets And Liabilities (Tables)
3 Months Ended
Mar. 31, 2019
Fair Value of Assets and Liabilities [Abstract]  
Schedule Of Assets Measured At Fair Value On Recurring Basis



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

Fair Value Measurements



 

 

 

 

(Level 1)

 

 

(Level 2)

 

(Level 3)



 

 

 

 

Quoted Prices in

 

Significant Other

 

Significant Other



 

 

 

 

Active Markets for

 

Observable

 

Unobservable

(dollars in thousands)

 

Total

 

Identical Assets

 

Inputs

 

Inputs

March 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Securities available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

  U.S. Treasury notes

 

$

19,284 

 

$

19,284 

 

$

 

$

  U.S. agency

 

 

15,379 

 

 

 

 

15,379 

 

 

  U.S. agency mortgage-backed, residential

 

 

81,267 

 

 

 

 

81,267 

 

 

  State and municipal

 

 

33,238 

 

 

 

 

33,238 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Securities available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

  U.S. Treasury notes

 

$

19,003 

 

$

19,003 

 

$

 

$

  U.S. agency

 

 

15,063 

 

 

 

 

15,063 

 

 

  U.S. agency mortgage-backed, residential

 

 

74,555 

 

 

 

 

74,555 

 

 

  State and municipal

 

 

40,972 

 

 

 

 

40,972 

 

 



Schedule Of Assets Measured At Fair Value On Nonrecurring Basis



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



 

 

 

Fair Value Measurements



 

 

 

(Level 1)

 

(Level 2)

 

(Level 3)



 

 

 

Quoted Prices in

 

 

 

Significant Other



 

 

 

Active Markets for

 

Significant Other

 

Unobservable

(dollars in thousands)

 

Total

 

Identical Assets

 

Observable Inputs

 

Inputs

March 31, 2019

 

 

 

 

 

 

 

 

  Impaired loans

$

15,402 

$

$

$

15,402 



 

 

 

 

 

 

 

 

December 31, 2018

 

 

 

 

 

 

 

 

  Impaired loans

$

13,297 

$

$

$

13,297 



Schedule Of Level 3 Assets Measured At Fair Value On Nonrecurring Basis





 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



Quantitative Information about Level 3 Fair Value Measurements



Fair Value

 

Valuation

Unobservable

 

Weighted

(dollars in thousands)

Estimate

 

Techniques

Input

Range

Average

March 31, 2019

 

 

 

 

 

 

 

 

 

  Impaired loans

$

7,944 

 

Appraisal (1)

 

Appraisal adjustments (2)

 

15% - 50%

42%

  Impaired loans

 

7,458 

 

Business asset valuation (3)

 

Business asset valuation adjustments (4)

 

10% - 52%

48%



 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

 

 

 

 

 

 

 

  Impaired loans

$

5,257 

 

Appraisal (1)

 

Appraisal adjustments (2)

 

15% - 50% 

39%

  Impaired loans

 

8,040 

 

Business asset valuation (3)

 

Business asset valuation adjustments (4)

 

10% - 53%

51%



 

 

 

 

 

 

 

 

 

  (1) Fair value is generally determined through independent appraisals, which generally include various level 3 inputs

        that are not identifiable.

 

  (2) Appraisal amounts may be adjusted downward by the Corporation's management for qualitative

       factors such as econcomic conditions and estimated liquidation expenses.  The range of liquidation expense

       adjustments are presented as a percent of the appraisal.

 

  (3) Fair value is generally determined through customer-provided financial statements.

  (4) Business asset valuation may be adjusted downward by the corporation's management qualitative factors such as economic

        conditions and estimated liquidation expenses.  The range of liquidation expenses adjustments are presented as a percent

        of the financial statement book value.

 



Schedule Of Carrying Amounts And Estimated Fair Values Of Financial Instruments



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

Fair Value Estimates



 

 

 

 

 

 

(Level 1)

 

(Level 2)

 

 

(Level 3)



 

 

 

 

 

 

Quoted Prices

 

Significant

 

Significant



 

 

 

 

 

 

in Active

 

Other

 

Other



Carrying

 

Estimated

 

Markets for

 

Observable

 

Unobservable

(dollars in thousands)

Amount

 

Fair Value

 

Identical Assets

 

Inputs

 

Inputs

March 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

94,285 

 

$

94,285 

 

$

94,285 

 

$

 

$

Securities available-for-sale

 

149,168 

 

 

149,168 

 

 

19,284 

 

 

129,884 

 

 

Restricted investment in bank stocks

 

5,322 

 

 

5,322 

 

 

 

 

5,322 

 

 

Loans held for sale

 

4,778 

 

 

4,978 

 

 

 

 

4,978 

 

 

Loans, net

 

1,474,881 

 

 

1,452,023 

 

 

 

 

 

 

1,452,023 

Interest receivable

 

5,182 

 

 

5,182 

 

 

 

 

5,182 

 

 

Mortgage servicing rights

 

922 

 

 

1,002 

 

 

 

 

 

 

1,002 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

$

1,502,877 

 

$

1,490,098 

 

$

 

$

1,490,098 

 

$

Short-term borrowings

 

6,830 

 

 

6,830 

 

 

 

 

6,830 

 

 

Long-term debt (1)

 

115,310 

 

 

117,245 

 

 

 

 

109,336 

 

 

7,909 

Interest payable

 

978 

 

 

978 

 

 

 

 

978 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off-balance sheet instruments

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

96,782 

 

$

96,782 

 

$

96,782 

 

$

 

$

Securities available-for-sale

 

149,593 

 

 

149,593 

 

 

19,003 

 

 

130,590 

 

 

Restricted investment in bank stocks

 

5,922 

 

 

5,922 

 

 

 

 

5,922 

 

 

Loans held for sale

 

4,127 

 

 

4,302 

 

 

 

 

4,302 

 

 

Loans, net

 

1,466,536 

 

 

1,437,415 

 

 

 

 

 

 

1,437,415 

Interest receivable

 

5,552 

 

 

5,552 

 

 

 

 

5,552 

 

 

Mortgage servicing rights

 

925 

 

 

1,052 

 

 

 

 

 

 

1,052 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

$

1,495,280 

 

$

1,479,997 

 

$

 

$

1,479,997 

 

$

Short-term borrowings

 

7,022 

 

 

7,022 

 

 

 

 

7,022 

 

 

Long-term debt

 

115,310 

 

 

112,406 

 

 

 

 

104,332 

 

 

8,074 

Interest payable

 

836 

 

 

836 

 

 

 

 

836 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off-balance sheet instruments

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Exclude leases included in Long-term debt