XML 107 R52.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
FAIR VALUE (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Financial assets and Liabilities at Dates Indicated that were Accounted for at Fair Value

 

 

 

 

2019

 

 

 

 

Quoted Prices in

 

 

 

 

Significant

 

 

 

 

 

 

 

Active Markets for

 

Significant Other

 

Unobservable

 

 

 

 

 

 

 

Identical Assets

 

Observable Inputs

 

Inputs

 

 

 

(In thousands)

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage loans held for sale

 

$

-

 

$

53,701

 

$

-

 

$

53,701

 

Investments available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agencies

 

 

-

 

 

258,495

 

 

-

 

 

258,495

 

 

State and municipal

 

 

-

 

 

233,649

 

 

-

 

 

233,649

 

 

Mortgage-backed and asset-backed

 

 

-

 

 

570,759

 

 

-

 

 

570,759

 

 

Corporate debt

 

 

-

 

 

-

 

 

9,552

 

 

9,552

 

 

Trust preferred

 

 

-

 

 

-

 

 

310

 

 

310

 

 

Marketable equity securities

 

 

-

 

 

568

 

 

-

 

 

568

 

Interest rate swap agreements

 

 

-

 

 

2,507

 

 

-

 

 

2,507

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

$

-

 

$

(2,507)

 

$

-

 

$

(2,507)

 

 

 

 

2018

 

 

 

 

Quoted Prices in

 

 

 

 

Significant

 

 

 

 

 

 

 

Active Markets for

 

Significant Other

 

Unobservable

 

 

 

 

 

 

 

Identical Assets

 

Observable Inputs

 

Inputs

 

 

 

(In thousands)

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential mortgage loans held for sale

 

$

-

 

$

22,773

 

$

-

 

$

22,773

 

Investments available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agencies

 

 

-

 

 

296,678

 

 

-

 

 

296,678

 

 

State and municipal

 

 

-

 

 

282,024

 

 

-

 

 

282,024

 

 

Mortgage-backed

 

 

-

 

 

348,515

 

 

-

 

 

348,515

 

 

Corporate debt

 

 

-

 

 

-

 

 

9,240

 

 

9,240

 

 

Trust preferred

 

 

-

 

 

-

 

 

310

 

 

310

 

 

Marketable equity securities

 

 

-

 

 

568

 

 

-

 

 

568

 

Interest rate swap agreements

 

 

-

 

 

446

 

 

-

 

 

446

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

$

-

 

$

(446)

 

$

-

 

$

(446)

Activity of assets reported as Level 3

 

 

 

 

Significant

 

 

 

 

Unobservable

 

 

 

 

Inputs

(In thousands)

 

(Level 3)

Investments available-for-sale:

 

 

 

 

Balance at January 1, 2019

 

$

9,550

 

 

Transfer into Level 3 assets

 

 

-

 

 

Additions of Level 3 assets

 

 

-

 

 

Sales of Level 3 assets

 

 

-

 

 

Total unrealized gains included in accumulated other comprehensive loss

 

 

312

 

Balance at December 31, 2019

 

$

9,862

Assets Measured at Fair Value on Nonrecurring Basis

 

 

 

2019

 

 

 

Quoted Prices in

 

Significant

 

 

 

 

 

 

 

 

 

 

 

 

Active Markets

 

Other

 

Significant

 

 

 

 

 

 

 

 

 

for Identical

 

Observable

 

Unobservable

 

 

 

 

 

 

(In thousands)

 

Assets (Level 1)

 

Inputs (Level 2)

 

Inputs (Level 3)

 

Total

 

Total Losses

Impaired loans (1)

 

$

-

 

$

-

 

$

6,886

 

$

6,886

 

$

(6,299)

Other real estate owned

 

 

-

 

 

-

 

 

1,482

 

 

1,482

 

 

(281)

 

Total

 

$

-

 

$

-

 

$

8,368

 

$

8,368

 

$

(6,580)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Amounts represent the fair value of collateral for impaired loans allocated to the allowance for loan losses. Fair values are determined using actual market prices

(Level 2), independent third party valuations and borrower records, discounted as appropriate (Level 3).

 

 

 

2018

 

 

 

Quoted Prices in

 

Significant

 

 

 

 

 

 

 

 

 

 

 

 

Active Markets

 

Other

 

Significant

 

 

 

 

 

 

 

 

 

for Identical

 

Observable

 

Unobservable

 

 

 

 

 

 

(In thousands)

 

Assets (Level 1)

 

Inputs (Level 2)

 

Inputs (Level 3)

 

Total

 

Total Losses

Impaired loans (1)

 

$

-

 

$

-

 

$

6,780

 

$

6,780

 

$

(10,932)

Other real estate owned

 

 

-

 

 

-

 

 

1,584

 

 

1,584

 

 

(262)

 

Total

 

$

-

 

$

-

 

$

8,364

 

$

8,364

 

$

(11,194)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Amounts represent the fair value of collateral for impaired loans allocated to the allowance for loan losses. Fair values are determined using actual market prices

(Level 2), independent third party valuations and borrower records, discounted as appropriate (Level 3).

Carrying Amounts And Fair Values of Company's Financial Instruments

 

 

 

 

 

 

 

 

Fair Value Measurements

 

 

2019

 

Quoted Prices in

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

Active Markets for

 

Significant Other

 

Significant

 

 

Carrying

 

Fair

 

Identical Assets

 

Observable Inputs

 

Unobservable Inputs

(In thousands)

 

Amount

 

Value

 

(Level 1)

 

(Level 2)

 

(Level 3)

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other equity securities

 

$

51,803

 

$

51,803

 

$

-

 

$

51,803

 

$

-

Loans, net of allowance

 

 

6,649,100

 

 

6,628,054

 

 

-

 

 

-

 

 

6,628,054

Other assets (1)

 

 

113,171

 

 

113,171

 

 

-

 

 

113,171

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Time deposits

 

$

1,542,322

 

$

1,547,116

 

$

-

 

$

1,547,116

 

$

-

Securities sold under retail repurchase agreements and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

federal funds purchased

 

 

213,605

 

 

213,605

 

 

-

 

 

213,605

 

 

-

Advances from FHLB

 

 

513,777

 

 

520,729

 

 

-

 

 

520,729

 

 

-

Subordinated debentures

 

 

209,406

 

 

200,864

 

 

-

 

 

-

 

 

200,864

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Includes bank owned life insurance products.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements

 

 

2018

 

Quoted Prices in

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

Active Markets for

 

Significant Other

 

Significant

 

 

Carrying

 

Fair

 

Identical Assets

 

Observable Inputs

 

Unobservable Inputs

(In thousands)

 

Amount

 

Value

 

(Level 1)

 

(Level 2)

 

(Level 3)

Financial Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments held-to-maturity and other equity securities

 

$

73,389

 

$

73,389

 

$

-

 

$

73,389

 

$

-

Loans, net of allowance

 

 

6,518,148

 

 

6,376,307

 

 

-

 

 

-

 

 

6,376,307

Other assets (1)

 

 

110,823

 

 

110,823

 

 

-

 

 

110,823

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Time deposits

 

$

1,526,161

 

$

1,536,238

 

$

-

 

$

1,536,238

 

$

-

Securities sold under retail repurchase agreements and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

federal funds purchased

 

 

327,429

 

 

327,429

 

 

-

 

 

327,429

 

 

-

Advances from FHLB

 

 

848,611

 

 

850,186

 

 

-

 

 

850,186

 

 

-

Subordinated debentures

 

 

37,425

 

 

33,588

 

 

-

 

 

-

 

 

33,588

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Includes bank owned life insurance products.