Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis.

	Balance at		Fair Value Measurements Using:
Dollars in thousands	June 30, 2018		Level 1		Level 2		Level 3
Securities available for sale
U.S. Government sponsored agencies	$	28,682	$	—	$	28,682	$	—
Mortgage backed securities:
Government sponsored agencies	76,505		—		76,505		—
Nongovernment sponsored entities	821		—		821		—
State and political subdivisions	18,975		—		18,975		—
Corporate debt securities	10,725		—		10,725		—
Other equity securities	137		—		137		—
Tax-exempt state and political subdivisions	147,376		—		147,376		—
Total securities available for sale	$	283,221	$	—	$	283,221	$	—
Derivative financial assets
Interest rate swaps	$	927	$	—	$	927	$	—
Derivative financial liabilities
Interest rate swaps	$	620	$	—	$	620	$	—

	Balance at		Fair Value Measurements Using:
Dollars in thousands	December 31, 2017		Level 1		Level 2		Level 3
Securities available for sale
U.S. Government sponsored agencies	$	31,613	$	—	$	31,613	$	—
Mortgage backed securities:
Government sponsored agencies	121,321		—		121,321		—
Nongovernment sponsored entities	2,077		—		2,077		—
State and political subdivisions	17,677		—		17,677		—
Corporate debt securities	16,245		—		16,245		—
Other equity securities	137		—		137		—
Tax-exempt state and political subdivisions	139,653		—		139,653		—
Total securities available for sale	$	328,723	$	—	$	328,723	$	—
Derivative financial assets
Interest rate swaps	$	312	$	—	$	312	$	—
Derivative financial liabilities
Interest rate swaps	$	2,057	$	—	$	2,057	$	—

Fair Value Measurements, Nonrecurring

Assets measured at fair value on a nonrecurring basis are included in the table below.

	Balance at		Fair Value Measurements Using:
Dollars in thousands	June 30, 2018		Level 1		Level 2		Level 3
Residential mortgage loans held for sale	$	135	$	—	$	135	$	—
Collateral-dependent impaired loans
Construction and development	$	648	$	—	$	648	$	—
Residential real estate	785		—		785		—
Total collateral-dependent impaired loans	$	1,433	$	—	$	1,433	$	—
Property held for sale
Commercial real estate	$	1,733	$	—	$	1,733	$	—
Construction and development	16,673		—		16,673		—
Residential real estate	439		—		439		—
Total property held for sale	$	18,845	$	—	$	18,845	$	—

	Balance at		Fair Value Measurements Using:
Dollars in thousands	December 31, 2017		Level 1		Level 2		Level 3
Residential mortgage loans held for sale	$	—	$	—	$	—	$	—
Collateral-dependent impaired loans
Commercial real estate	$	518	$	—	$	518	$	—
Construction and development	940		—		940		—
Residential real estate	203		—		203		—
Total collateral-dependent impaired loans	$	1,661	$	—	$	1,661	$	—
Property held for sale
Commercial real estate	$	1,493	$	—	$	1,493	$	—
Construction and development	16,177		—		16,177		—
Residential real estate	322		—		322		—
Total property held for sale	$	17,992	$	—	$	17,992	$	—

Fair Value, by Balance Sheet Grouping

The carrying values and estimated fair values of our financial instruments are summarized below:

	June 30, 2018				Fair Value Measurements Using:
Dollars in thousands	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	46,411	$	46,411	$	—	$	46,411	$	—
Securities available for sale	283,221		283,221		—		283,221		—
Other investments	12,844		12,844		—		12,844		—
Loans held for sale, net	135		135		—		135		—
Loans, net	1,617,373		1,611,346		—		1,433		1,609,913
Accrued interest receivable	8,425		8,425		—		8,425		—
Derivative financial assets	927		927		—		927		—
	$	1,969,336	$	1,963,309	$	—	$	353,396	$	1,609,913
Financial liabilities
Deposits	$	1,639,996	$	1,634,320	$	—	$	1,634,320	$	—
Short-term borrowings	202,429		202,429		—		202,429		—
Long-term borrowings	20,743		20,929		—		20,929		—
Subordinated debentures owed to unconsolidated subsidiary trusts	19,589		19,589		—		19,589		—
Accrued interest payable	967		967		—		967		—
Derivative financial liabilities	620		620		—		620		—
	$	1,884,344	$	1,878,854	$	—	$	1,878,854	$	—

	December 31, 2017				Fair Value Measurements Using:
Dollars in thousands	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	52,631	$	52,631	$	—	$	52,631	$	—
Securities available for sale	328,723		328,723		—		328,723		—
Other investments	14,934		14,934		—		14,934		—
Loans held for sale, net	—		—		—		—		—
Loans, net	1,593,744		1,592,821		—		1,661		1,591,160
Accrued interest receivable	8,329		8,329		—		8,329		—
Derivative financial assets	312		312		—		312		—
	$	1,998,673	$	1,997,750	$	—	$	406,590	$	1,591,160
Financial liabilities
Deposits	$	1,600,601	$	1,620,033	$	—	$	1,620,033	$	—
Short-term borrowings	250,499		250,499		—		250,499		—
Long-term borrowings	45,751		46,530		—		46,530		—
Subordinated debentures owed to unconsolidated subsidiary trusts	19,589		19,589		—		19,589		—
Accrued interest payable	987		987		—		987		—
Derivative financial liabilities	2,057		2,057		—		2,057		—
	$	1,919,484	$	1,939,695	$	—	$	1,939,695	$	—