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SIERRA BANCORP AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
115
20.
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS
(Continued)
Carrying amount and estimated fair values of financial instruments were as follows (dollars in thousands):
Carrying
Amount
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant
Observable Inputs
(Level 2)
Significant
Unobservable Inputs
(Level 3)
Total
Financial Assets:
Cash and cash equivalents
50,095
$
50,095
$
-
$
-
$
50,095
$
Securities available for sale
511,883
2,222
509,661
-
511,883
Loans and leases held for investment
956,265
-
966,599
-
966,599
Collateral dependent impaired loans
4,791
-
4,791
-
4,791
Cash surrender value of life insurance policies
42,989
-
42,989
-
42,989
Other investments
7,042
-
7,042
-
7,042
Investment in limited partnership
7,276
-
7,276
-
7,276
Accrued interest receivable
5,852
-
5,852
-
5,852
Financial Liabilities:
Deposits:
Noninterest-bearing
390,897
$
390,897
$
-
$
-
$
390,897
$
Interest-bearing
975,798
-
976,002
-
976,002
Fed funds purchased and
Repurchase agreements
7,251
-
7,251
-
7,251
Short-termborrowings
18,200
-
18,200
-
18,200
Long-termborrowings
6,000
-
6,000
-
6,000
Subordinated debentures
30,928
-
11,428
-
11,428
Limited partnership capital commitment
914
-
914
-
914
Accrued Interest Payable
137
-
137
-
137
Notional Amount
Off-balance-sheet financial instruments:
Commitments to extend credit
366,909
$
Standby letters of credit
14,389
Year Ended December 31, 2014
Estimated Fair Value