Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 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	September 30, 2019		Level 1		Level 2		Level 3
Securities available for sale
U.S. Government sponsored agencies	$	22,067	$	—	$	22,067	$	—
Mortgage backed securities:
Government sponsored agencies	71,887		—		71,887		—
Nongovernment sponsored entities	8,038		—		8,038		—
State and political subdivisions	33,664		—		33,664		—
Corporate debt securities	16,439		—		16,439		—
Asset-backed securities	33,419		—		33,419		—
Tax-exempt state and political subdivisions	79,833		—		79,833		—
Total securities available for sale	$	265,347	$	—	$	265,347	$	—
Derivative financial liabilities
Interest rate swaps	$	1,444	$	—	$	1,444	$	—

	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	September 30, 2019		Level 1		Level 2		Level 3
Residential mortgage loans held for sale	$	1,087	$	—	$	1,087	$	—
Collateral-dependent impaired loans
Commercial	$	104	$	—	$	8	$	96
Commercial real estate	1,436		$	—	1,436		—
Construction and development	430		$	—	430		—
Residential real estate	657		—		657		—
Total collateral-dependent impaired loans	$	2,627	$	—	$	2,531	$	96
Property held for sale
Commercial real estate	$	1,384	$	—	$	1,304	$	80
Construction and development	14,168		—		14,168		—
Residential real estate	730		—		730		—
Total property held for sale	$	16,282	$	—	$	16,202	$	80

	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:

	September 30, 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	$	52,670	$	52,670	$	—	$	52,670	$	—
Securities available for sale	265,347		265,347		—		265,347		—
Other investments	14,022		14,022		—		14,022		—
Loans held for sale, net	1,087		1,087		—		1,087		—
Loans, net	1,838,891		1,837,454		—		2,531		1,834,923
Accrued interest receivable	8,704		8,704		—		8,704		—
Derivative financial assets	—		—		—		—		—
	$	2,180,721	$	2,179,284	$	—	$	344,361	$	1,834,923
Financial liabilities
Deposits	$	1,832,285	$	1,837,024	$	—	$	1,837,024	$	—
Short-term borrowings	206,694		206,694		—		206,694		—
Long-term borrowings	722		868		—		868		—
Subordinated debentures owed to unconsolidated subsidiary trusts	19,589		19,589		—		19,589		—
Accrued interest payable	1,297		1,297		—		1,297		—
Derivative financial liabilities	1,444		1,444		—		1,444		—
	$	2,062,031	$	2,066,916	$	—	$	2,066,916	$	—

	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	$	—