Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value of Financial Instruments

Schedule of carrying amount and estimated fair value of financial instruments

At December 31, 2013
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(in thousands)
Assets:
Cash and cash equivalents	$	126,813	$	126,813	$	—	$	—	$	126,813
Securities available for sale	256,089		—		256,089		—		256,089
Federal Reserve Bank and FHLB stock, at cost	15,450		15,450		—		—		15,450
Loans held for sale, net	3,147		—		3,147		—		3,147
Loans held for investment, net	1,231,923		—		1,227,889		2,427		1,230,316
Accrued interest receivable	6,254		6,254		—		—		6,254
Other real estate owned	1,186		—		1,186		—		1,186
Liabilities:
Deposit accounts	1,306,286		991,630		301,007		—		1,292,637
FHLB advances	156,000		156,000		—		—		156,000
Other borrowings	48,091		—		49,058		—		49,058
Subordinated debentures	10,310		—		4,696		—		4,696
Accrued interest payable	166		166		—		—		166

	At December 31, 2012
	Carrying Amount		Level 1		Level 2		Level 3		Estimated Fair Value
	(in thousands)
Assets:
Cash and cash equivalents	$	59,352	$	59,352	$	—	$	—	$	59,352
Securities available for sale	84,066		—		83,114		952		84,066
Federal Reserve Bank and FHLB stock, at cost	11,247		11,247		—		—		11,247
Loans held for sale, net	3,681		—		3,681		—		3,681
Loans held for investment, net	974,213		—		1,046,853		2,736		1,049,589
Accrued interest receivable	4,126		4,126		—		—		4,126
Other real estate owned	2,258		—		2,258		—		2,258
Liabilities:
Deposit accounts	904,768		548,101		363,382		—		911,483
FHLB advances	87,000		87,000		—		—		87,000
Other borrowings	28,500		—		31,267		—		31,267
Subordinated debentures	10,310		—		4,973		—		4,973
Accrued interest payable	142		142		—		—		142

Schedule of Off-balance sheet commitments and standby letters of credit

	Notional Amount		Level 1		Level 2		Level 3		Cost to Cede or Assume
Off-balance sheet commitments and standby letters of credit	$	337,181	$	—	$	33,718	$	—	$	33,718

	Notional Amount		Level 1		Level 2		Level 3		Cost to Cede or Assume
Off-balance sheet commitments and standby letters of credit	$	131,450	$	—	$	13,145	$	—	$	13,145

Schedule of Company's assets measured at fair value on a recurring basis

	At December 31, 2013
	Fair Value Measurement Using
	Level 1		Level 2		Level 3		Assets at  Fair Value
	(in thousands)
Assets
Marketable securities	$	—	$	256,089	$	—	$	256,089
Total assets	$	—	$	256,089	$	—	$	256,089
	At December 31, 2012
	Fair Value Measurement Using
	Level 1		Level 2		Level 3		Assets at Fair Value
	(in thousands)
Assets
Marketable securities	$	—	$	83,114	$	952	$	84,066
Total assets	$	—	$	83,114	$	952	$	84,066

Schedule of changes in consolidated statements of financial condition carrying values measured at fair value on a recurring basis using significant unobservable (Level 3) inputs

Marketable Securities	Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3)
	(in thousands)
Beginning Balance, January 1, 2013	$	952
Total gains or losses (realized/unrealized):
Included in earnings (or changes in net assets)	194
Included in other comprehensive income	(140		)
Purchases, issuances, and settlements	(1,077		)
Transfer in and/or out of Level 3	71
Ending Balance, December 31, 2013	$	—

Schedule of Company's assets measured at fair value on a non-recurring basis

	Fair Value Measurement Using
	Level 1		Level 2		Level 3		Assets at Fair Value
	(in thousands)
Assets
Impaired Loans	$	—	$	—	$	2,427	$	2,427
Loans held for sale	—		3,147		—		3,147
Other real estate owned	—		1,186		—		1,186
Total assets	$	—	$	4,333	$	2,427	$	6,760