Altabancorp - 10-K filing on 2017-03-10

Fair Value (Tables)

12 Months Ended

Dec. 31, 2016

Assets measured at fair value are summarized as follows:

(in thousands)	Level 1		Level 2		Level 3		Total
As of December 31, 2016
Fair valued on a recurring basis:
Investment securities available for sale	$	1,008	$	334,601	$	-	$	335,609
Fair valued on a non-recurring basis:
Impaired loans		-		4,342		-		4,342

As of December 31, 2015
Fair valued on a recurring basis:
Investment securities available for sale	$	2,017	$	330,719	$	-	$	332,736
Fair valued on a non-recurring basis:
Impaired loans		-		5,580		-		5,580
Other real estate owned		-		460		-		460

Fair Value of Financial Instruments

Fair value of financial instruments — The following table summarizes carrying amounts, estimated fair values and assumptions used to estimate fair values of financial instruments:

	Carrying		Estimated
(in thousands)	Amount		Fair Value
As of December 31, 2016
Financial Assets:
Net loans held for investment	$	1,103,162	$	1,101,890
Financial Liabilities:
Interest bearing deposits		981,974		982,380

As of December 31, 2015
Financial Assets:
Net loans held for investment	$	1,032,418	$	1,029,540
Financial Liabilities:
Interest bearing deposits		900,677		901,211