| Schedule of assets reported on the balance sheet at their fair value on a recurring basis |
The following table presents the assets reported on the balance sheet at their fair value on a recurring basis as of December 31, 2016 and 2015, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
| | | | | | | | | | | | | | | | | | | | 2016 | (In Thousands) | | Level I | | Level II | | Level III | | Total | Assets measured on a recurring basis: | | |
| | |
| | |
| | |
| Investment securities, available for sale: | | |
| | |
| | |
| | |
| U.S. Government and agency securities | | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| Mortgage-backed securities | | — |
| | 9,313 |
| | — |
| | 9,313 |
| Asset-backed securities | | — |
| | 109 |
| | — |
| | 109 |
| State and political securities | | — |
| | 60,934 |
| | — |
| | 60,934 |
| Other debt securities | | — |
| | 51,118 |
| | — |
| | 51,118 |
| Financial institution equity securities | | 10,535 |
| | — |
| | — |
| | 10,535 |
| Other equity securities | | 1,483 |
| | — |
| | — |
| | 1,483 |
| Investment securities, trading: | | | | | | | | | Other equity securities | | 58 |
| | — |
| | — |
| | 58 |
| Total assets measured on a recurring basis | | $ | 12,076 |
| | $ | 121,474 |
| | $ | — |
| | $ | 133,550 |
|
| | | | | | | | | | | | | | | | | | | | 2015 | (In Thousands) | | Level I | | Level II | | Level III | | Total | Assets measured on a recurring basis: | | |
| | |
| | |
| | |
| Investment securities, available for sale: | | |
| | |
| | |
| | |
| U.S. Government and agency securities | | $ | — |
| | $ | 3,549 |
| | $ | — |
| | $ | 3,549 |
| Mortgage-backed securities | | — |
| | 10,009 |
| | — |
| | 10,009 |
| Asset-backed securities | | — |
| | 1,940 |
| | — |
| | 1,940 |
| State and political securities | | — |
| | 86,555 |
| | — |
| | 86,555 |
| Other debt securities | | — |
| | 57,772 |
| | — |
| | 57,772 |
| Financial institution equity securities | | 11,483 |
| | — |
| | — |
| | 11,483 |
| Other equity securities | | 4,849 |
| | — |
| | — |
| | 4,849 |
| Investment securities, trading: | |
|
| |
|
| |
|
| |
|
| Financial institution equity securities | | 73 |
| | — |
| | — |
| | 73 |
| Total assets measured on a recurring basis | | $ | 16,405 |
| | $ | 159,825 |
| | $ | — |
| | $ | 176,230 |
|
|
| Schedule of assets reported on the consolidated balance sheet at their fair value on a non-recurring basis |
The following table presents the assets reported on the balance sheet at their fair value on a non-recurring basis as of December 31, 2016 and 2015, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. | | | | | | | | | | | | | | | | | | | | 2016 | (In Thousands) | | Level I | | Level II | | Level III | | Total | Assets measured on a non-recurring basis: | | |
| | |
| | |
| | |
| Impaired loans | | $ | — |
| | $ | — |
| | $ | 13,797 |
| | $ | 13,797 |
| Other real estate owned | | — |
| | — |
| | 839 |
| | 839 |
| Total assets measured on a non-recurring basis | | $ | — |
| | $ | — |
| | $ | 14,636 |
| | $ | 14,636 |
|
| | | | | | | | | | | | | | | | | | | | 2015 | (In Thousands) | | Level I | | Level II | | Level III | | Total | Assets measured on a non-recurring basis: | | |
| | |
| | |
| | |
| Impaired loans | | $ | — |
| | $ | — |
| | $ | 13,779 |
| | $ | 13,779 |
| Other real estate owned | | — |
| | — |
| | 1,696 |
| | 1,696 |
| Total assets measured on a non-recurring basis | | $ | — |
| | $ | — |
| | $ | 15,475 |
| | $ | 15,475 |
|
|
| Schedule of listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques |
The following table provides a listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques as of December 31, 2016 and 2015:
| | | | | | | | | | | | | | | | | 2016 | | | Quantitative Information About Level III Fair Value Measurements | (In Thousands) | | Fair Value | | Valuation Technique(s) | | Unobservable Inputs | | Range | | Weighted Average | Impaired loans | | $ | 5,304 |
| | Discounted cash flow | | Temporary reduction in payment amount | | 0 to (70)% | | (20 | )% | | | |
| | | | Probability of default | | —% | | |
| | | 8,493 |
| | Appraisal of collateral | | Appraisal adjustments (1) | | 0 to (20)% | | (15 | )% | Other real estate owned | | $ | 839 |
| | Appraisal of collateral (1) | | | | | | |
|
| | | | | | | | | | | | | | | | | 2015 | | | Quantitative Information About Level III Fair Value Measurements | (In Thousands) | | Fair Value | | Valuation Technique(s) | | Unobservable Inputs | | Range | | Weighted Average | Impaired loans | | $ | 5,696 |
| | Discounted cash flow | | Temporary reduction in payment amount | | 0 to (70)% | | (17 | )% | | | |
| | | | Probability of default | | —% | | |
| | | 8,083 |
| | Appraisal of collateral | | Appraisal adjustments (1) | | 0 to (20)% | | (15 | )% | Other real estate owned | | $ | 1,696 |
| | Appraisal of collateral (1) | | | | | | |
(1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. |