Rendering

Component: (Network and Table)
Network
144 - Disclosure - FAIR VALUES OF ASSETS AND LIABILITIES (Tables)
(http://www.thefirstbank.com/role/FairValuesOfAssetsAndLiabilitiesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0000947559 (http://www.sec.gov/CIK)
Fair Value Disclosures [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Fair Value Disclosures [Abstract]
 
Fair Value Assets Measured on Recurring Basis
The following table presents the Company’s available-for-sale securities that are measured at fair value on a recurring basis and the level within the hierarchy in which the fair value measurements fell as of December 31, 2016 and 2015 (in thousands):
 
 
 
 
 
Fair Value Measurements Using
 
 
 
 
 
Quoted Prices in
 
Significant
 
 
 
 
 
 
 
Active Markets
 
Other
 
Significant
 
 
 
 
 
For
 
Observable
 
Unobservable
 
 
 
 
 
Identical Assets
 
Inputs
 
Inputs
 
 
 
Fair Value
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
 
 
 
 
 
 
 
 
 
 
December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of U.S.
 
 
 
 
 
 
 
 
 
 
 
 
 
Government agencies
 
$
9,045
 
$
-
 
$
9,045
 
$
-
 
Municipal securities
 
 
98,822
 
 
-
 
 
98,822
 
 
-
 
Mortgage-backed securities
 
 
114,289
 
 
-
 
 
114,289
 
 
-
 
Corporate obligations
 
 
20,110
 
 
-
 
 
17,869
 
 
2,241
 
Other
 
 
940
 
 
940
 
 
-
 
 
-
 
Total
 
$
243,206
 
$
940
 
$
240,025
 
$
2,241
 
 
 
 
 
 
Fair Value Measurements Using
 
 
 
 
 
Quoted Prices in
 
Significant
 
 
 
 
 
 
 
Active Markets
 
Other
 
Significant
 
 
 
 
 
For
 
Observable
 
Unobservable
 
 
 
 
 
Identical Assets
 
Inputs
 
Inputs
 
 
 
Fair Value
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
 
 
 
 
 
 
 
 
 
 
December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Obligations of U.S.
 
 
 
 
 
 
 
 
 
 
 
 
 
Government agencies
 
$
19,611
 
$
-
 
$
19,611
 
$
-
 
Municipal securities
 
 
97,889
 
 
-
 
 
97,889
 
 
-
 
Mortgage-backed securities
 
 
98,925
 
 
-
 
 
98,925
 
 
-
 
Corporate obligations
 
 
22,346
 
 
-
 
 
19,789
 
 
2,557
 
Other
 
 
961
 
 
961
 
 
-
 
 
-
 
Total
 
$
239,732
 
$
961
 
$
236,214
 
$
2,557
 
  
Reconciliation of Activity for Assets Measured at Fair Value based on Significant Unobservable (Non-market) Information
The following is a reconciliation of activity for assets measured at fair value based on significant unobservable (non-market) information.
 
 
 
Bank-Issued Trust 
 
 
 
Trust Preferred
 
(In thousands)
 
Securities
 
 
 
2016
 
2015
 
2014
 
Balance of recurring Level 3 assets at January 1
 
$
2,557
 
$
2,801
 
$
2,798
 
Transfers into Level 3
 
 
-
 
 
-
 
 
-
 
Transfers out of Level 3
 
 
-
 
 
-
 
 
-
 
Unrealized income (loss) included in comprehensive income
 
 
(316)
 
 
(244)
 
 
3
 
Balance of recurring Level 3 assets at December 31
 
$
2,241
 
$
2,557
 
$
2,801
 
  
Quantitative Information About Recurring Level 3 Fair Value Measurements
The following table presents quantitative information about recurring Level 3 fair value measurements (in thousands):
 
Trust Preferred
 
 
 
 
 
Significant
 
 
 
Securities
 
Fair Value
 
Valuation Technique
 
Unobservable Inputs
 
Range of Inputs
 
December 31, 2016
 
$
2,241
 
Discounted cash flow
 
Discount rate
 
 
1.50% - 3.34%
 
December 31, 2015
 
$
2,557
 
Discounted cash flow
 
Discount rate
 
 
1.08% - 2.77%
 
December 31, 2014
 
$
2,801
 
Discounted cash flow
 
Discount rate
 
 
.79% - 2.49%
 
  
Fair Value Assets Measured on Nonrecurring Basis
The following table presents the fair value measurement of assets and liabilities measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fell at December 31, 2016 and 2015 (in thousands). 
 
 
 
 
 
Fair Value Measurements Using
 
 
 
 
 
Quoted Prices in
 
Significant
 
 
 
 
 
 
 
Active Markets
 
Other
 
Significant
 
 
 
 
 
For
 
Observable
 
Unobservable
 
 
 
 
 
Identical Assets
 
Inputs
 
Inputs
 
 
 
Fair Value
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
 
 
 
 
 
 
 
 
 
 
December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired loans
 
$
6,128
 
$
-
 
$
6,128
 
$
-
 
Other real estate owned
 
 
6,007
 
 
-
 
 
6,007
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired loans
 
$
10,127
 
$
-
 
$
10,127
 
$
-
 
Other real estate owned
 
 
3,083
 
 
-
 
 
3,083
 
 
-
 
  
Financial Instruments with No Distinguishable Fair Value
As of December 31, 2016
 
 
 
 
 
Fair Value Measurements
 
 
 
 
 
 
 
 
 
Significant
 
 
 
 
 
 
 
 
 
 
 
Other
 
Significant
 
 
 
 
 
 
 
Quoted
 
Observable
 
Unobservable
 
 
 
Carrying
 
Estimated
 
Prices
 
Inputs
 
Inputs
 
(Dollars in thousands)
 
Amount
 
Fair Value
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial Instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
62,119
 
$
62,119
 
$
62,119
 
$
-
 
$
-
 
Securities available-for-sale
 
 
243,206
 
 
243,206
 
 
940
 
 
240,025
 
 
2,241
 
Securities held-to-maturity
 
 
6,000
 
 
7,394
 
 
-
 
 
7,394
 
 
-
 
Other securities
 
 
6,593
 
 
6,593
 
 
-
 
 
6,593
 
 
-
 
Loans, net
 
 
865,424
 
 
883,161
 
 
-
 
 
-
 
 
883,161
 
Bank-owned life insurance
 
 
21,250
 
 
21,250
 
 
-
 
 
21,250
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Noninterest-bearing deposits
 
$
202,478
 
$
202,478
 
$
-
 
$
202,478
 
$
-
 
Interest-bearing deposits
 
 
836,713
 
 
835,658
 
 
-
 
 
835,658
 
 
-
 
Subordinated debentures
 
 
10,310
 
 
10,310
 
 
-
 
 
-
 
 
10,310
 
FHLB and other borrowings
 
 
69,000
 
 
69,000
 
 
-
 
 
69,000
 
 
-
 
 
As of December 31, 2015
 
 
 
 
 
Fair Value Measurements
 
 
 
 
 
 
 
 
 
Significant
 
 
 
 
 
 
 
 
 
 
 
Other
 
Significant
 
 
 
 
 
 
 
Quoted
 
Observable
 
Unobservable
 
 
 
Carrying
 
Estimated
 
Prices
 
Inputs
 
Inputs
 
 
 
Amount
 
Fair Value
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Financial Instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
41,259
 
$
41,259
 
$
41,259
 
$
-
 
$
-
 
Securities available-for-sale
 
 
239,732
 
 
239,732
 
 
961
 
 
236,214
 
 
2,557
 
Securities held-to-maturity
 
 
7,092
 
 
8,548
 
 
-
 
 
8,548
 
 
-
 
Other securities
 
 
8,135
 
 
8,135
 
 
-
 
 
8,135
 
 
-
 
Loans, net
 
 
769,742
 
 
784,113
 
 
-
 
 
-
 
 
784,113
 
Bank-owned life insurance
 
 
14,872
 
 
14,872
 
 
-
 
 
14,872
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Noninterest-bearing deposits
 
$
189,445
 
$
189,445
 
$
-
 
$
189,445
 
$
-
 
Interest-bearing deposits
 
 
727,250
 
 
726,441
 
 
-
 
 
726,441
 
 
-
 
Subordinated debentures
 
 
10,310
 
 
10,310
 
 
-
 
 
-
 
 
10,310
 
FHLB and other borrowings
 
 
110,321
 
 
110,321
 
 
-
 
 
110,321
 
 
-