Schedule of fair value assets and liabilities measured on recurring basis | The following table presents the balances of financial assets measured at fair value on a recurring basis during the period (dollars in thousands): | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2016 Using | | Balance as of December 31, | | Quoted Prices in Active Markets for Identical Assets | | Significant Other Observable Inputs | | Significant Unobservable Inputs | Description | 2016 | | Level 1 | | Level 2 | | Level 3 | Assets: | | | | | | | | Securities available for sale: | | | | | | | | Federal agencies and GSEs | $ | 104,054 |
| | $ | — |
| | $ | 104,054 |
| | $ | — |
| Mortgage-backed and CMOs | 79,493 |
| | — |
| | 79,493 |
| | — |
| State and municipal | 147,515 |
| | — |
| | 147,515 |
| | — |
| Corporate | 13,492 |
| | — |
| | 13,492 |
| | — |
| Equity securities | 1,948 |
| | — |
| | 1,948 |
| | — |
| Total | $ | 346,502 |
| | $ | — |
| | $ | 346,502 |
| | $ | — |
|
| | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2015 Using | | Balance as of December 31, | | Quoted Prices in Active Markets for Identical Assets | | Significant Other Observable Inputs | | Significant Unobservable Inputs | Description | 2015 | | Level 1 | | Level 2 | | Level 3 | Assets: | | | | | | | | Securities available for sale: | | | | | | | | Federal agencies and GSEs | $ | 81,452 |
| | $ | — |
| | $ | 81,452 |
| | $ | — |
| Mortgage-backed and CMOs | 70,930 |
| | — |
| | 70,930 |
| | — |
| State and municipal | 175,891 |
| | — |
| | 175,891 |
| | — |
| Corporate | 10,590 |
| | — |
| | 10,590 |
| | — |
| Equity Securities | 1,486 |
| | — |
| | — |
| | 1,486 |
| Total | $ | 340,349 |
| | $ | — |
| | $ | 338,863 |
| | $ | 1,486 |
|
|
Schedule of assets that were measured at fair value on a nonrecurring basis | The following table summarizes the Company's assets that were measured at fair value on a nonrecurring basis during the period (dollars in thousands): | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2016 Using | | Balance as of December 31, | | Quoted Prices in Active Markets for Identical Assets | | Significant Other Observable Inputs | | Significant Unobservable Inputs | Description | 2016 | | Level 1 | | Level 2 | | Level 3 | Assets: | | | | | | | | Loans held for sale | $ | 5,996 |
| | $ | — |
| | $ | 5,996 |
| | $ | — |
| Impaired loans, net of valuation allowance | 2,151 |
| | — |
| | — |
| | 2,151 |
| Other real estate owned, net | 1,328 |
| | — |
| | — |
| | 1,328 |
|
| | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2015 Using | | Balance as of December 31, | | Quoted Prices in Active Markets for Identical Assets | | Significant Other Observable Inputs | | Significant Unobservable Inputs | Description | 2015 | | Level 1 | | Level 2 | | Level 3 | Assets: | | | | | | | | Loans held for sale | $ | 3,266 |
| | $ | — |
| | $ | 3,266 |
| | $ | — |
| Impaired loans, net of valuation allowance | 2,948 |
| | — |
| | — |
| | 2,948 |
| Other real estate owned, net | 2,184 |
| | — |
| | — |
| | 2,184 |
|
|
Schedule of carrying values and estimated fair values of the entity's financial instruments | The carrying values and estimated fair values of the Company's financial instruments at December 31, 2016 are as follows (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2016 Using | | Carrying Value | | Quoted Prices in Active Markets for Identical Assets | | Significant Other Observable Inputs | | Significant Unobservable Inputs | | Fair Value Balance | | Level 1 | | Level 2 | | Level 3 | | Financial Assets: | | | | | | | | | | Cash and cash equivalents | $ | 53,207 |
| | $ | 53,207 |
| | $ | — |
| | $ | — |
| | $ | 53,207 |
| Securities available for sale | 346,502 |
| | — |
| | 346,502 |
| | — |
| | 346,502 |
| Restricted stock | 6,224 |
| | — |
| | 6,224 |
| | — |
| | 6,224 |
| Loans held for sale | 5,996 |
| | — |
| | 5,996 |
| | — |
| | 5,996 |
| Loans, net of allowance | 1,152,020 |
| | — |
| | — |
| | 1,136,961 |
| | 1,136,961 |
| Bank owned life insurance | 18,163 |
| | — |
| | 18,163 |
| | — |
| | 18,163 |
| Accrued interest receivable | 5,083 |
| | — |
| | 5,083 |
| | — |
| | 5,083 |
| | | | | | | | | | | Financial Liabilities: | |
| | |
| | |
| | |
| | |
| Deposits | $ | 1,370,640 |
| | $ | — |
| | $ | 991,785 |
| | $ | 374,774 |
| | $ | 1,366,559 |
| Repurchase agreements | 39,166 |
| | — |
| | 39,166 |
| | — |
| | 39,166 |
| Other short-term borrowings | 20,000 |
| | — |
| | 20,000 |
| | — |
| | 20,000 |
| Long-term borrowings | 9,980 |
| | — |
| | — |
| | 10,156 |
| | 10,156 |
| Junior subordinated debt | 27,724 |
| | — |
| | — |
| | 24,932 |
| | 24,932 |
| Accrued interest payable | 623 |
| | — |
| | 623 |
| | — |
| | 623 |
|
The carrying values and estimated fair values of the Company's financial instruments at December 31, 2015 are as follows (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2015 Using | | Carrying Value | | Quoted Prices in Active Markets for Identical Assets | | Significant Other Observable Inputs | | Significant Unobservable Inputs | | Fair Value Balance | | Level 1 | | Level 2 | | Level 3 | | Financial Assets: | | | | | | | | | | Cash and cash equivalents | $ | 95,337 |
| | $ | 95,337 |
| | $ | — |
| | $ | — |
| | $ | 95,337 |
| Securities available for sale | 340,349 |
| | — |
| | 338,863 |
| | 1,486 |
| | 340,349 |
| Restricted stock | 5,312 |
| | — |
| | 5,312 |
| | — |
| | 5,312 |
| Loans held for sale | 3,266 |
| | — |
| | 3,266 |
| | — |
| | 3,266 |
| Loans, net of allowance | 992,924 |
| | — |
| | — |
| | 994,808 |
| | 994,808 |
| Bank owned life insurance | 17,658 |
| | — |
| | 17,658 |
| | — |
| | 17,658 |
| Accrued interest receivable | 4,116 |
| | — |
| | 4,116 |
| | — |
| | 4,116 |
| | | | | | | | | | | Financial Liabilities: | |
| | |
| | |
| | |
| | |
| Deposits | $ | 1,262,660 |
| | $ | — |
| | $ | 865,350 |
| | $ | 396,551 |
| | $ | 1,261,901 |
| Repurchase agreements | 40,611 |
| | — |
| | 40,611 |
| | — |
| | 40,611 |
| Other borrowings | 9,958 |
| | — |
| | — |
| | 10,293 |
| | 10,293 |
| Junior subordinated debt | 27,622 |
| | — |
| | — |
| | 22,940 |
| | 22,940 |
| Accrued interest payable | 655 |
| | — |
| | 655 |
| | — |
| | 655 |
|
|