Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Assets Measured At Fair Value On A Recurring And Non-Recurring Basis


		Quoted Prices
		in Active
		Markets for		Significant
		Identical		Other		Significant
		Assets or		Observable		Unobservable
		Liabilities		Inputs		Inputs
		(Level 1)		(Level 2)		(Level 3)		Total
2017
Measured on a recurring basis:
Securities available for sale:
U.S. Government agencies and government sponsored enterprises	$	-	$	161,889	$	-	$	161,889
Mortgage-backed securities		-		363,084		-		363,084
Asset-backed securities		-		-		-		-
	$	-	$	524,973	$	-	$	524,973
Other liabilities:
Derivative instruments – credit contracts	$	-	$	4	$	-	$	4
	$	-	$	4	$	-	$	4

Measured on a nonrecurring basis:
Loans:
Loans held for sale	$	-	$	2,718	$	-	$	2,718
Collateral dependent impaired loans		-		-		3,847		3,847
Other assets:
Loan servicing rights		-		-		990		990
Other real estate owned		-		-		148		148
	$	-	$	2,718	$	4,985	$	7,703

2016
Measured on a recurring basis:
Securities available for sale:
U.S. Government agencies and government sponsored enterprises	$	-	$	186,268	$	-	$	186,268
Mortgage-backed securities		-		353,467		-		353,467
Asset-backed securities		-		191		-		191
	$	-	$	539,926	$	-	$	539,926
Other liabilities:
Derivative instruments – credit contracts	$	-	$	-	$	-	$	-
	$	-	$	-	$	-	$	-

Measured on a nonrecurring basis:
Loans:
Loans held for sale	$	-	$	1,050	$	-	$	1,050
Collateral dependent impaired loans		-		-		901		901
Other assets:
Loan servicing rights		-		-		1,075		1,075
Other real estate owned		-		-		107		107
	$	-	$	1,050	$	2,083	$	3,133

Additional Quantitative Information About Assets Measured At Fair Value On A Recurring And Non-Recurring Basis


		Fair			Unobservable Input
Asset		Value	Valuation Technique	Unobservable Input	Value or Range
Collateral dependent impaired loans	$	3,847	Appraisal of collateral ⁽¹⁾	Appraisal adjustments ⁽²⁾	0% - 45% discount

Loan servicing rights	$	990	Discounted cash flow	Discount rate	10.2% ⁽³⁾
				Constant prepayment rate	14.8% ⁽³⁾

Other real estate owned	$	148	Appraisal of collateral ⁽¹⁾	Appraisal adjustments ⁽²⁾	28% - 43% discount

⁽¹⁾Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable.

⁽²⁾Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.

⁽³⁾Weighted averages.

Carrying Amount, Estimated Fair Value, And Placement In Fair Value Hierarchy Of Financial Instruments

	Level in		2017				2016
	Fair Value				Estimated				Estimated
	Measurement		Carrying		Fair		Carrying		Fair
	Hierarchy		Amount		Value		Amount		Value
Financial assets:
Cash and cash equivalents	Level 1	$	99,195	$	99,195	$	71,277	$	71,277
Securities available for sale	Level 2		524,973		524,973		539,926		539,926
Securities held to maturity	Level 2		516,466		512,983		543,338		539,991
Loans held for sale	Level 2		2,718		2,718		1,050		1,050
Loans	Level 2		2,696,498		2,660,936		2,308,326		2,285,146
Loans ⁽¹⁾	Level 3		3,847		3,847		901		901
Accrued interest receivable	Level 1		10,776		10,776		9,192		9,192
FHLB and FRB stock	Level 2		27,730		27,730		21,780		21,780
Financial liabilities:
Non-maturity deposits	Level 1		2,358,018		2,358,018		2,292,706		2,292,706
Time deposits	Level 2		852,156		848,055		702,516		701,097
Short-term borrowings	Level 1		446,200		446,200		331,500		331,500
Long-term borrowings	Level 2		39,131		41,485		39,061		40,701
Accrued interest payable	Level 1		8,038		8,038		5,394		5,394
Derivative instruments – credit contracts	Level 2		4		4		-		-

⁽¹⁾Comprised of collateral dependent impaired loans.