Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Measurements [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value for the periods indicated.

			Fair Value Measurements
			At December 31, 2014, Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets		Other Observable Inputs		Significant Unobservable Inputs
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Available-for-Sale Securities:
Government Agency & Government-Sponsored Entities	$	78,109	$	10,005	$	68,104	$	-
Mortgage Backed Securities		287,948		-		287,948		-
Other		485		175		310		-
Total Assets Measured at Fair Value On a Recurring Basis	$	366,542	$	10,180	$	356,362	$	-

			Fair Value Measurements
			At December 31, 2013, Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets		Other Observable Inputs		Significant Unobservable Inputs
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Available-for-Sale Securities:
Government Agency & Government-Sponsored Entities	$	28,436	$	23,394	$	5,042	$	-
Mortgage Backed Securities		324,929		-		324,929		-
Corporate Securities		49,380		8,191		41,189		-
Other		1,894		1,584		310		-
Total Assets Measured at Fair Value On a Recurring Basis	$	404,639	$	33,169	$	371,470	$	-

Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis

Fair values for Level 2 available-for-sale investment securities are based on quoted market prices for similar securities. During the year ended December 31, 2014, there were no transfers out of level 2 to level 3. During the year ended December 31, 2013, $5.6 million were transferred out of level 3 available-for-sale investment securities into held-to-maturity investment securities. The following table presents information about the activity of level 3 assets.

(in thousands)	2014		2013
Balance at Beginning of Period	$	-	$	5,665
Total Realized and Unrealized Gains/(Losses) Included in Income		-		-
Total Unrealized Gains/(Losses) Included in Other Comprehensive Income		-		-
Purchase of Securities		-		-
Sales, Maturities, and Calls of Securities		-		(84	)
Net Transfers out of Available for Sale Securities		-		(5,581	)
Balance at End of Period	$	-	$	-

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The following tables present information about the Company’s impaired loans & leases and other real estate, classes of assets or liabilities that the Company carries at fair value on a non-recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value for the periods indicated. Not all impaired loans & leases are carried at fair value. Impaired loans & leases are only included in the following tables when their fair value is based upon an appraisal of the collateral, and if that appraisal results in a partial charge-off or the establishment of a specific reserve.

			Fair Value Measurements
			At December 31, 2014, Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets		Other Observable Inputs		Significant Unobservable Inputs
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Impaired Loans:
Commercial Real Estate	$	90	$	-	$	-	$	90
Residential 1st Mortgage		748		-		-		748
Home Equity Lines and Loans		759		-		-		759
Agricultural		346		-		-		346
Commercial		3,832		-		-		3,832
Consumer		6		-		-		6
Total Impaired Loans		5,781		-		-		5,781
Other Real Estate:
Real Estate Construction		2,441		-		-		2,441
Agricultural Real Estate		858		-		-		858
Total Other Real Estate		3,299		-		-		3,299
Total Assets Measured at Fair Value On a Non-Recurring Basis	$	9,080	$	-	$	-	$	9,080

			Fair Value Measurements
			At December 31, 2013, Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets		Other Observable Inputs		Significant Unobservable Inputs
(in thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Impaired Loans:
Residential 1st Mortgage	$	614	$	-	$	-	$	614
Home Equity Lines and Loans		551		-		-		551
Agricultural		366		-		-		366
Commercial		820		-		-		820
Total Impaired Loans		2,351		-		-		2,351
Other Real Estate:
Real Estate Construction		2,399		-		-		2,399
Agricultural Real Estate		2,212		-		-		2,212
Total Other Real Estate		4,611		-		-		4,611
Total Assets Measured at Fair Value On a Non-Recurring Basis	$	6,962	$	-	$	-	$	6,962

Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on a Non-Recurring Basis

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2014:

(in thousands)	Fair Value		Valuation Technique	Unobservable Inputs	Range, Weighted Avg.
Impaired Loans:
Commercial Real Estate	$	90	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		1% -1%, 1	%
Residential 1st Mortgages	$	748	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		11% -21%, 17	%
Home Equity Lines and Loans	$	759	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		1% - 14%, 11	%
Agricultural	$	331	Income Approach	Capitalization Rate		14% - 14%, 14	%
Agricultural	$	15	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		1% -1%, 1	%
Commercial	$	3,832	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		1% - 13%, 4	%
Consumer	$	6	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		8% - 8%, 8	%
Other Real Estate:
Real Estate Construction	$	2,441	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		10% - 10%, 10	%
Agricultural Real Estate	$	858	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		10% - 10%, 10	%