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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis at March 31, 2013 and December 31, 2012, and the valuation techniques used by the Company to determine those fair values.

																		Total
		Carrying																Estimated
March 31, 2013		Value				Level 1				Level 2				Level 3				Fair Value
Financial Assets:
Cash and due from banks		$	118,038			$	118,038			$	-			$	-			$	118,038
Securities - Held to Maturity
Obligations of States and Political Subdivisions			38,013				-				39,129				-				39,129
Corporate Debt Securities			500				-				500				-				500

Securities - Available for Sale
Obligations of U.S. Government Agencies			258,431				-				258,431				-				258,431
MBS issued by U.S. Government Agencies			120,885				-				120,885				-				120,885
Obligations of States and Political Subdivisions			16,951				-				16,951				-				16,951
Trust Preferred CDO Securities			5,402				-				-				5,402				5,402
Corporate Debt Securities			12,181				-				12,181				-				12,181
Other Securities			2,629				2,197				432				-				2,629

Federal Home Loan Bank Stock			10,605				-				10,605				-				10,605
Loans Held for Sale			2,047				-				-				2,047				2,047
Loans, net			596,859				-				-				611,801				611,801
Accrued Interest Receivable			3,923				-				3,923				-				3,923

Financial Liabilities:
Noninterest Bearing Deposits			186,220				186,220				-				-				186,220
Interest Bearings Deposits			876,245				-				881,699				-				881,699
Borrowed funds
FHLB Advances			107,000				-				107,321				-				107,321
Repurchase Agreements			15,000				-				16,964				-				16,964
Accrued Interest Payable			348				-				348				-				348

																		Total
		Carrying																Estimated
December 31, 2012		Value				Level 1				Level 2				Level 3				Fair Value
Financial Assets:
Cash and due from banks		$	112,507			$	112,507			$	-			$	-			$	112,507
Securities - Held to Maturity
Obligations of States and Political Subdivisions			38,286				-				40,130				-				40,130
Corporate Debt Securities			500				-				500				-				500

Securities - Available for Sale
Obligations of U.S. Government Agencies			225,451				-				225,451				-				225,451
MBS issued by U.S. Government Agencies			129,818				-				129,818				-				129,818
Obligations of States and Political Subdivisions			18,370				-				18,370				-				18,370
Trust Preferred CDO Securities			5,406				-				-				5,406				5,406
Corporate Debt Securities			12,077				-				12,077				-				12,077
Other Securities			2,645				2,213				432				-				2,645

Federal Home Loan Bank Stock			10,605				-				10,605				-				10,605
Loans Held for Sale			1,520				-				-				1,520				1,520
Loans, net			609,950				-				-				627,171				627,171
Accrued Interest Receivable			3,457				-				3,457				-				3,457

Financial Liabilities:
Noninterest Bearing Deposits			183,016				183,016				-				-				183,016
Interest Bearings Deposits			865,814				-				872,070				-				872,070
Borrowed funds
FHLB Advances			107,000				-				107,785				-				107,785
Repurchase Agreements			15,000				-				17,141				-				17,141
Accrued Interest Payable			353				-				353				-				353

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The changes in Level 3 assets measured at fair value on a recurring basis were (000’s omitted):

Investment Securities - Available for Sale		2013				2012
Balance at January 1		$	5,406			$	5,467
Total realized and unrealized gains (losses) included in income			(4	)			(4	)
Total unrealized gains (losses) included in other comprehensive income			-				(235	)
Net purchases, sales, calls and maturities			-				-
Net transfers in/out of Level 3			-				-
Balance at March 31		$	5,402			$	5,228

Fair Value Assets Measured On Nonrecurring Basis [Table Text Block]

Assets measured at fair value on a nonrecurring basis are as follows (000’s omitted):

		Balance at March 31, 2013				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)

Impaired loans		$	65,812			$	-			$	-			$	65,812
Other Real Estate Owned		$	15,118			$	-			$	-			$	15,118

		Balance at December 31, 2012				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)

Impaired loans		$	67,249			$	-			$	-			$	67,249
Other Real Estate Owned		$	14,262			$	-			$	-			$	14,262

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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