Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

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 September 30, 2016, 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	$	83,293	$	-	$	83,293	$	-
US Treasury Notes		85,681		85,681		-		-
Mortgage Backed Securities		188,873		-		188,873		-
Other		1,010		200		310		500
Total Assets Measured at Fair Value On a Recurring Basis	$	358,857	$	85,881	$	272,476	$	500
			Fair Value Measurements At December 31, 2015, 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	$	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 September 30, 2015, 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	$	41,513	$	-	$	41,513	$	-
US Treasury Notes		30,300		30,300		-		-
Mortgage Backed Securities		256,195		-		256,195		-
Corporate Securities		16,235		-		16,235		-
Other		485		175		310		-
Total Assets Measured at Fair Value On a Recurring Basis	$	344,728	$	30,475	$	314,253	$	-

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

The following tables present information about the Company’s other real estate and impaired loans or leases, 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 or leases are carried at fair value. Impaired loans or leases are only included in the following tables when their fair value is based upon a current 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 September 30, 2016, 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	$	496	$	-	$	-	$	496
Home Equity Lines and Loans		84		-		-		84
Agricultural		503		-		-		503
Commercial		847		-		-		847
Total Impaired Loans		1,930		-		-		1,930
Other Real Estate
Home Equity Lines and Loans		785		-		-		785
Total Other Real Estate		785		-		-		785
Total Assets Measured at Fair Value On a Non-Recurring Basis	$	2,715	$	-	$	-	$	2,715
			Fair Value Measurements At December 31, 2015, 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	$	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 September 30, 2015, 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	$	334	$	-	$	-	$	334
Home Equity Lines and Loans		126		-		-		126
Agricultural		308		-		-		308
Commercial		800		-		-		800
Consumer		5		-		-		5
Total Impaired Loans		1,573		-		-		1,573
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	$	4,014	$	-	$	-	$	4,014

Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on a Nonrecurring 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 September 30, 2016:

(in thousands)	Fair Value		Valuation Technique	Unobservable Inputs	Range, Weighted Avg.
Impaired Loans
Residential 1st Mortgage	$	496	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales	0% -5%, 3%
Home Equity Lines and Loans	$	84	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales	1% - 2%, 2%
Agricultural	$	292	Income Approach	Capitalization Rate	16% - 16%, 16%
Agricultural	$	211	Collateral Approach	Collateral Value	10% - 10%, 10%
Commercial	$	847	Income Approach	Capitalization Rate	16% - 16%, 16%
Other Real Estate
Home Equity Lines and Loans	$	785	Sales Comparison Approach	Adjustment for Difference Between Comparable Sales	10% - 10%, 10%