Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

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, 2015, Using
(in thousands)	Fair Value Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available-for-Sale Securities:
Government Agency & Government-Sponsored Entities	$	33,251	$	-	$	33,251	$	-
US Treasury Notes		72,884		72,884		-		-
Mortgage Backed Securities		262,493		-		262,493		-
Other		509		199		310		-
Total Assets Measured at Fair Value On a Recurring Basis	$	369,137	$	73,083	$	296,054	$	-

			Fair Value Measurements At December 31, 2014, Using
(in thousands)	Fair Value Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (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	$	-

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, 2015, Using
(in thousands)	Fair Value Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired Loans:
Residential 1st Mortgage	$	329	$	-	$	-	$	329
Home Equity Lines and Loans		125		-		-		125
Agricultural		298		-		-		298
Commercial		752		-		-		752
Consumer		5		-		-		5
Total Impaired Loans		1,509		-		-		1,509
Other Real Estate:
Real Estate Construction		2,441		-		-		2,441
Total Other Real Estate		2,441		-		-		2,441
Total Assets Measured at Fair Value On a Non-Recurring Basis	$	3,950	$	-	$	-	$	3,950

			Fair Value Measurements At December 31, 2014, Using
(in thousands)	Fair Value Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Other Observable Inputs (Level 2)		Significant Unobservable Inputs (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

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, 2015:

(in thousands)	Fair Value		Valuation Technique	Unobservable Inputs	Range, Weighted Avg.
Impaired Loans:

Residential 1st Mortgages	$	329	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		1% -5%, 3	%

Home Equity Lines and Loans	$	125	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		1% - 3%, 2	%

Agricultural	$	298	Income Approach	Capitalization Rate		16% - 16%, 16	%

Commercial	$	752	Income Approach	Capitalization Rate		16% - 16%, 16	%

Consumer	$	5	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		2% - 2%, 2	%

Other Real Estate:

Real Estate Construction	$	2,441	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales		10% - 10%, 10	%