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Fair Value Measurements And Fair Values Of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Measurements And Fair Values Of Financial Instruments [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

 December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Securities available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

  U.S. Treasury notes

 

$

9,953 

 

$

9,953 

 

$

 

$

  U.S. agency

 

 

14,923 

 

 

 

 

14,923 

 

 

  U.S. agency mortgage-backed, residential

 

 

108,155 

 

 

 

 

108,155 

 

 

  State and municipal

 

 

26,644 

 

 

 

 

26,644 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 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

 December 31, 2019

 

 

 

 

 

 

 

 

  Impaired loans

$

11,297 

$

$

$

11,297 

  Foreclosed real estate

 

797 

 

 

 

797 



 

 

 

 

 

 

 

 

 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

 December 31, 2019

 

 

 

 

 

 

 

 

 

  Impaired loans

$

5,991 

 

Appraisal

(1)

Appraisal adjustments

(2)

15% - 55% 

44%

  Impaired loans

 

5,306 

 

Business asset valuation

(3)

Business asset valuation adjustments

(4)

10% - 73%

70%

  Foreclosed real estate

 

797 

 

Appraisal

(1)

Appraisal adjustments

(2)

22%  -22%

22%



 

 

 

 

 

 

 

 

 

 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 economic conditions, and estimated liquidation expenses.  The range of liquidation expenses and other

 

        adjustments are presented as a percent of the appraisal or financial statement book value.

 

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

  (4) Business asset valuations may be adjusted downward by the Corporation's mangement for qualitative

        factors such as economic conditions, and estimated liquidation expenses.  The range of liquidation expenses and other

 

        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

 December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

131,591 

 

$

131,591 

 

$

131,591 

 

$

 

$

Securities available-for-sale

 

 

159,675 

 

 

159,675 

 

 

9,953 

 

 

149,722 

 

 

Restricted investment in bank stocks

 

 

4,551 

 

 

4,551 

 

 

 

 

4,551 

 

 

Loans held for sale

 

 

11,803 

 

 

12,460 

 

 

 

 

12,460 

 

 

Loans, net

 

 

1,484,069 

 

 

1,472,772 

 

 

 

 

 

 

1,472,772 

Interest receivable

 

 

5,016 

 

 

5,016 

 

 

 

 

5,016 

 

 

Mortgage servicing rights

 

 

965 

 

 

1,047 

 

 

 

 

 

 

1,047 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

1,590,564 

 

$

1,582,179 

 

$

 

$

1,582,179 

 

$

Short-term borrowings

 

 

7,925 

 

 

7,925 

 

 

 

 

7,925 

 

 

Long-term debt (1)

 

 

80,310 

 

 

79,579 

 

 

 

 

70,486 

 

 

9,093 

Interest payable

 

 

842 

 

 

842 

 

 

 

 

842 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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) Excludes leases included in long-term debt.