Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

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	March 31, 2019		Level 1		Level 2		Level 3
Securities available for sale
U.S. Government sponsored agencies	$	25,046	$	—	$	25,046	$	—
Mortgage backed securities:
Government sponsored agencies	82,458		—		82,458		—
Nongovernment sponsored entities	7,729		—		7,729		—
State and political subdivisions	20,547		—		20,547		—
Corporate debt securities	15,450		—		15,450		—
Asset-backed securities	33,834		—		33,834		—
Tax-exempt state and political subdivisions	112,062		—		112,062		—
Total securities available for sale	$	297,126	$	—	$	297,126	$	—
Derivative financial assets
Interest rate swaps	$	240	$	—	$	240	$	—
Derivative financial liabilities
Interest rate swaps	$	423	$	—	$	423	$	—

	Balance at		Fair Value Measurements Using:
Dollars in thousands	December 31, 2018		Level 1		Level 2		Level 3
Securities available for sale
U.S. Government sponsored agencies	$	26,140	$	—	$	26,140	$	—
Mortgage backed securities:
Government sponsored agencies	80,309		—		80,309		—
Nongovernment sponsored entities	614		—		614		—
State and political subdivisions	19,243		—		19,243		—
Corporate debt securities	14,512		—		14,512		—
Asset-backed securities	25,175		—		25,175		—
Tax-exempt state and political subdivisions	127,154		—		127,154		—
Total securities available for sale	$	293,147	$	—	$	293,147	$	—
Derivative financial assets
Interest rate swaps	$	555	$	—	$	555	$	—
Derivative financial liabilities
Interest rate swaps	$	411	$	—	$	411	$	—

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	March 31, 2019		Level 1		Level 2		Level 3
Residential mortgage loans held for sale	$	433	$	—	$	433	$	—
Collateral-dependent impaired loans
Commercial	$	57	$	—	$	8	$	49
Commercial real estate	420		$	—	420		—
Construction and development	758		$	—	758		—
Residential real estate	799		—		799		—
Total collateral-dependent impaired loans	$	2,034	$	—	$	1,985	$	49
Property held for sale
Commercial real estate	$	1,627	$	—	$	1,627	$	—
Construction and development	16,522		—		16,522		—
Residential real estate	643		—		643		—
Total property held for sale	$	18,792	$	—	$	18,792	$	—

	Balance at		Fair Value Measurements Using:
Dollars in thousands	December 31, 2018		Level 1		Level 2		Level 3
Residential mortgage loans held for sale	$	400	$	—	$	400	$	—
Collateral-dependent impaired loans
Commercial	$	2,660	$	—	$	2,611	$	49
Commercial real estate	420		—		420		—
Construction and development	759		—		759		—
Residential real estate	763		—		763		—
Total collateral-dependent impaired loans	$	4,602	$	—	$	4,553	$	49
Property held for sale
Commercial real estate	$	1,677	$	—	$	1,677	$	—
Construction and development	16,363		—		16,363		—
Residential real estate	403		—		403		—
Total property held for sale	$	18,443	$	—	$	18,443	$	—

Fair Value, by Balance Sheet Grouping

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

	March 31, 2019				Fair Value Measurements Using:
Dollars in thousands	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	57,954	$	57,954	$	—	$	57,954	$	—
Securities available for sale	297,126		297,126		—		297,126		—
Other investments	12,597		12,597		—		12,597		—
Loans held for sale, net	433		433		—		433		—
Loans, net	1,725,064		1,729,204		—		1,985		1,727,219
Accrued interest receivable	8,828		8,828		—		8,828		—
Derivative financial assets	240		240		—		240		—
	$	2,102,242	$	2,106,382	$	—	$	379,163	$	1,727,219
Financial liabilities
Deposits	$	1,789,032	$	1,785,991	$	—	$	1,785,991	$	—
Short-term borrowings	186,292		186,292		—		186,292		—
Long-term borrowings	730		854		—		854		—
Subordinated debentures owed to unconsolidated subsidiary trusts	19,589		19,589		—		19,589		—
Accrued interest payable	1,262		1,262		—		1,262		—
Derivative financial liabilities	423		423		—		423		—
	$	1,997,328	$	1,994,411	$	—	$	1,994,411	$	—

	December 31, 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	$	59,540	$	59,540	$	—	$	59,540	$	—
Securities available for sale	293,147		293,147		—		293,147		—
Other investments	16,635		16,635		—		16,635		—
Loans held for sale, net	400		400		—		400		—
Loans, net	1,682,005		1,666,834		—		4,553		1,662,281
Accrued interest receivable	8,708		8,708		—		8,708		—
Derivative financial assets	555		555		—		555		—
	$	2,060,990	$	2,045,819	$	—	$	383,538	$	1,662,281
Financial liabilities
Deposits	$	1,634,826	$	1,631,456	$	—	$	1,631,456	$	—
Short-term borrowings	309,084		309,084		—		309,084		—
Long-term borrowings	735		843		—		843		—
Subordinated debentures owed to unconsolidated subsidiary trusts	19,589		19,589		—		19,589		—
Accrued interest payable	1,102		1,102		—		1,102		—
Derivative financial liabilities	411		411		—		411		—
	$	1,965,747	$	1,962,485	$	—	$	1,962,485	$	—