Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Measurements

Schedule of mortgage servicing rights

			Fair Value Measurements
			Quoted Prices
			in Active
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
(in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)
June 30, 2020
Assets:
U.S. Treasury	$	776	$	776		—	$	—
U.S. government and federal agency obligations		8,818		—		8,818		—
U.S. government-sponsored enterprises		34,810		—		34,810		—
Obligations of states and political subdivisions		43,494		—		43,494		—
Mortgage-backed securities		94,887		—		94,887		—
Other debt securities		8,044		—		8,044		—
Bank-issued trust preferred securities		1,207		—		1,207		—
Equity securities		14		14		—		—
Mortgage servicing rights		2,145		—		—		2,145
Total	$	194,195	$	790	$	191,260	$	2,145
December 31, 2019
Assets:
U.S. Treasury	$	995	$	995		—	$	—
U.S. government and federal agency obligations		8,047		—		8,047		—
U.S. government-sponsored enterprises		22,283		—		22,283		—
Obligations of states and political subdivisions		33,789		—		33,789		—
Mortgage-backed securities		105,616		—		105,616		—
Other debt securities		3,053		—		3,053		—
Bank-issued trust preferred securities		1,310		—		1,310		—
Equity securities		13		13		—		—
Mortgage servicing rights		2,482		—		—		2,482
Total	$	177,588	$	1,008	$	174,098	$	2,482

Schedule of summary of changes in Level 3 assets and liabilities measured at fair value on a recurring basis

	Fair Value Measurements Using				Fair Value Measurements Using
	(Level 3)				(Level 3)
	Mortgage Servicing Rights				Mortgage Servicing Rights
	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2020		2019		2020		2019
Balance at beginning of period	$	2,274	$	2,875	$	2,482	$	2,931
Total (losses) or gains (realized/unrealized):
Included in earnings		(250)		(279)		(525)		(373)
Included in other comprehensive income		—		—		—		—
Purchases		—		—		—		—
Sales		—		—		—		—
Issues		121		61		188		99
Settlements		—		—		—		—
Balance at end of period	$	2,145	$	2,657	$	2,145	$	2,657

Schedule of valuation methods for instruments measured at fair value on a nonrecurring basis

			Fair Value Measurements Using
			Quoted Prices
			in Active						Three Months		Six Months
			Markets for		Other		Significant		Ended		Ended
			Identical		Observable		Unobservable		June 30,		June 30,
	Total		Assets		Inputs		Inputs		Total Gains		Total Gains
(in thousands)	Fair Value		(Level 1)		(Level 2)		(Level 3)		(Losses)*		(Losses)*
June 30, 2020
Assets:
Collateral dependent impaired loans:
Commercial, financial, & agricultural	$	2,408	$	—	$	—	$	2,408	$	—	$	—
Real estate construction - commercial		837		—		—		837		—		—
Real estate mortgage - residential		2,031		—		—		2,031		(32)		(51)
Real estate mortgage - commercial		1,304		—		—		1,304		(2)		(24)
Installment and other consumer		11		—		—		11		(3)		(17)
Total	$	6,591	$	—	$	—	$	6,591	$	(37)	$	(92)
Other real estate and repossessed assets	$	12,520	$	—	$	—	$	12,520	$	213	$	199
June 30, 2019
Assets:
Collateral dependent impaired loans:
Commercial, financial, & agricultural	$	1,244	$	—	$	—	$	1,244	$	(110)	$	(110)
Real estate construction - commercial		146		—		—		146		—		—
Real estate mortgage - residential		1,247		—		—		1,247		—		—
Real estate mortgage - commercial		863		—		—		863		(6)		(9)
Installment and other consumer		—		—		—		—		(3)		(7)
Total	$	3,500	$	—	$	—	$	3,500	$	(119)	$	(126)
Other real estate and repossessed assets	$	13,110	$	—	$	—	$	13,110	$	(70)	$	(176)

* Total losses reported for other real estate and foreclosed assets includes charge-offs, valuation write downs, and net losses taken during the periods reported.