Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value of Financial Instruments

Schedule of summary of the carrying amounts and fair values of financial instruments

					June 30, 2019
					Fair Value Measurements
						Quoted Prices
					in Active				Net
					Markets for		Other		Significant
	June 30, 2019				Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
(in thousands)	amount		value		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash and due from banks	$	22,230	$	22,230	$	22,230	$	—	$	—
Federal funds sold and overnight interest-bearing deposits		6,636		6,636		6,636		—		—
Certificates of deposit in other banks		12,745		12,745		12,745		—		—
Available for sale securities		213,181		213,181		2,690		210,491		—
Other investment securities		5,333		5,333		13		5,320		—
Loans, net		1,145,060		1,124,440		—		—		1,124,440
Mortgage servicing rights		2,657		2,657		—		—		2,657
Cash surrender value - life insurance		2,579		2,579		—		2,579		—
Accrued interest receivable		6,146		6,146		6,146		—		—
	$	1,416,567	$	1,395,947	$	50,460	$	218,390	$	1,127,097
Liabilities:
Deposits:
Non-interest bearing demand	$	261,868	$	261,868	$	261,868	$	—	$	—
Savings, interest checking and money market		596,237		596,237		596,237		—		—
Time deposits		328,004		327,733		—		—		327,733
Federal funds purchased and securities sold under agreements to repurchase		25,334		25,334		25,334		—		—
Federal Home Loan Bank advances and other borrowings		85,038		85,806		—		85,806		—
Subordinated notes		49,486		43,393		—		43,393		—
Operating lease liabilities		2,345		2,345				2,345
Accrued interest payable		1,306		1,306		1,306		—		—
	$	1,349,618	$	1,344,022	$	884,745	$	131,544	$	327,733

					December 31, 2018
					Fair Value Measurements
					Quoted Prices
					in Active				Net
					Markets for		Other		Significant
	December 31, 2018				Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
(in thousands)	amount		value		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash and due from banks	$	23,687	$	23,687	$	23,687	$	—	$	—
Federal funds sold and overnight interest-bearing deposits		18,396		18,396		18,396		—		—
Certificates of deposit in other banks		12,247		12,247		12,247		—		—
Available-for-sale securities		218,205		218,205		1,952		216,253		—
Other investment securities		5,675		5,675		12		5,663		—
Loans, net		1,134,975		1,115,003		—		—		1,115,003
Mortgage servicing rights		2,931		2,931		—		—		2,931
Cash surrender value - life insurance		2,542		2,542		—		2,542		—
Accrued interest receivable		6,162		6,162		6,162		—		—
	$	1,424,820	$	1,404,848	$	62,456	$	224,458	$	1,117,934
Liabilities:
Deposits:
Non-interest bearing demand	$	262,857	$	262,857	$	262,857	$	—	$	—
Savings, interest checking and money market		614,040		614,040		614,040		—		—
Time deposits		321,571		318,949		—		—		318,949
Federal funds purchased and securities sold under agreements to repurchase		24,647		24,647		24,647		—		—
Federal Home Loan Bank advances and other borrowings		95,153		94,326		—		94,326		—
Subordinated notes		49,486		45,749		—		45,749		—
Accrued interest payable		1,035		1,035		1,035		—		—
	$	1,368,789	$	1,361,603	$	902,579	$	140,075	$	318,949