Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value of Financial Instruments [Abstract]

Book value and estimated fair value of financial instruments

The following tables summarize the book value and estimated fair value of financial instruments for the periods indicated:

				Fair Value of Financial Instruments Using
September 30, 2012 (in thousands)	Carrying Amount			Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total Estimated Fair Value
Assets:
Cash and Cash Equivalents	$	33,464		$	33,464	$	-	$	-		$	33,464
Investment Securities Available-for-Sale:
Government Agency & Government-Sponsored Entities		46,971			10,627		36,344		-			46,971
Obligations of States and Political Subdivisions		5,704			-		-		5,704			5,704
Mortgage Backed Securities		389,812			-		389,812		-			389,812
Corporate Bonds		14,864			-		14,864		-			14,864
Other		5,826			5,516		310		-			5,826
Total Investment Securities Available-for-Sale		463,177			16,143		441,330		5,704			463,177
Investment Securities Held-to-Maturity:
Obligations of States and Political Subdivisions		66,098			-		60,983		7,738			68,721
Mortgage Backed Securities		640			-		660		-			660
Other		2,222			-		2,222		-			2,222
Total Investment Securities Held-to-Maturity		68,960			-		63,865		7,738			71,603
FHLB Stock		7,368			N/A		N/A		N/A			N/A
Loans, Net of Deferred Loan Fees & Allowance:
Commercial Real Estate		331,331			-		-		340,570			340,570
Agricultural Real Estate		290,202			-		-		298,168			298,168
Real Estate Construction		30,840			-		-		31,236			31,236
Residential 1st Mortgages		135,922			-		-		141,334			141,334
Home Equity Lines and Loans		40,475			-		-		43,243			43,243
Agricultural		184,794			-		-		184,647			184,647
Commercial		158,117			-		-		157,440			157,440
Consumer & Other		5,370			-		-		5,454			5,454
Unallocated Allowance		(628	)		-		-		(628	)		(628	)
Total Loans, Net of Deferred Loan Fees & Allowance		1,176,423			-		-		1,201,464			1,201,464
Accrued Interest Receivable		8,037			-		-		8,037			8,037
Liabilities:
Deposits:
Demand		369,635			369,635		-		-			369,635
Interest Bearing Transaction		238,223			238,223		-		-			238,223
Savings and Money Market		540,690			540,690		-		-			540,690
Time		482,957			-		483,950		-			483,950
Total Deposits		1,631,505			1,148,548		483,950		-			1,632,498
FHLB Advances		482			-		547		-			547
Subordinated Debentures		10,310			-		5,478		-			5,478
Accrued Interest Payable		526			-		526		-			526

December 31, 2011	Carrying		Estimated
(in thousands)	Amount		Fair Value
Assets:
Cash and Cash Equivalents	$	101,660	$	101,660
Investment Securities Available-for-Sale		479,820		479,820
Investment Securities Held-to-Maturity		63,092		65,874
FHLB Stock		7,035		N/A
Loans, Net of Deferred Loan Fees & Allowance		1,130,061		1,162,261
Accrued Interest Receivable		6,368		6,368
Liabilities:
Deposits:
Demand		389,639		389,639
Interest-Bearing		1,236,558		1,237,849
FHLB Advances & Securities Sold Under Agreement to Repurchase		60,530		63,000
Subordinated Debentures		10,310		5,953
Accrued Interest Payable		911		911
September 30, 2011	Carrying		Estimated
(in thousands)	Amount		Fair Value
Assets:
Cash and Cash Equivalents	$	112,611	$	112,611
Investment Securities Available-for-Sale		420,809		420,809
Investment Securities Held-to-Maturity		63,803		66,302
FHLB Stock		7,035		N/A
Loans, Net of Deferred Loan Fees & Allowance		1,144,542		1,183,033
Accrued Interest Receivable		7,454		7,454
Liabilities:
Deposits:
Demand		359,649		359,649
Interest-Bearing		1,229,639		1,231,089
FHLB Advances & Securities Sold Under Agreement to Repurchase		60,546		63,626
Subordinated Debentures		10,310		5,751
Accrued Interest Payable		907		907