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Fair Value Of Assets And Liabilities (Tables)
6 Months Ended
Jun. 30, 2012
Fair Value Of Assets And Liabilities [Abstract]  
Schedule Of Estimated Fair Values

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2012

 

 

December 31, 2011

 

 

June 30, 2011

 

Carrying Amount

 

Fair Value

 

Carrying Amount

 

Fair  Value

 

Carrying Amount

 

Fair Value

 

 

(In Thousands)

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1 inputs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Cash, due from banks and deposits in other banks

$

110,704

 

$

110,704

 

$

91,530

 

$

91,530

 

$

143,831

 

$

143,831

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 2 inputs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Investment securities

 

 194,851

 

 

 195,093

 

 

 227,905

 

 

 228,163

 

 

 188,020

 

 

 188,216

  Accrued interest receivable

 

 2,801

 

 

 2,801

 

 

 2,898

 

 

 2,898

 

 

 2,745

 

 

 2,745

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 3 inputs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Loans and loans held for sale, net

 

 662,989

 

 

 655,950

 

 

 656,881

 

 

 649,907

 

 

 618,556

 

 

 615,464

  Purchased receivables

 

 23,650

 

 

 23,650

 

 

 30,209

 

 

 30,209

 

 

 14,743

 

 

 14,743

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 2 inputs:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Deposits

$

894,773

 

$

894,358

 

$

911,248

 

$

910,927

 

$

884,170

 

$

883,317

  Securities sold under repurchase agreements

 

 15,265

 

 

 15,265

 

 

 16,348

 

 

 16,348

 

 

 11,616

 

 

 11,616

  Borrowings

 

 4,553

 

 

 4,193

 

 

 4,626

 

 

 4,066

 

 

 4,696

 

 

 3,993

  Junior subordinated debentures

 

18,558

 

 

 17,620

 

 

18,558

 

 

 17,356

 

 

18,558

 

 

 15,106

  Accrued interest payable

 

 50

 

 

 50

 

 

 52

 

 

 52

 

 

 239

 

 

 239

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrecognized financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Commitments to extend credit(1)

$

223,832

 

$

2,238

 

$

173,834

 

$

1,738

 

$

204,899

 

$

2,049

  Standby letters of credit(1)

 

 21,484

 

 

 215

 

 

 16,172

 

 

 162

 

 

 18,240

 

 

 182

(1) Carrying amounts reflect the notional amount of credit exposure under these financial instruments.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

Quoted Prices in Active Markets for Identical Assets (Level 1)

 

Significant Other Observable Inputs (Level 2)

 

Significant Unobservable Inputs (Level 3)

June 30, 2012

 

(In Thousands)

Available for sale securities

 

 

 

 

 

 

 

 

 

 

 

   U.S. Treasury and government sponsored entities

$

119,503

 

$

 -

 

$

119,503

 

$

 -

   Municipal securities

 

 19,668

 

 

 -

 

 

 19,668

 

 

 -

   U.S. Agency mortgage-backed securities

 

 50

 

 

 -

 

 

 50

 

 

 -

   Corporate bonds

 

 46,847

 

 

 -

 

 

 46,847

 

 

 -

   Preferred stock

 

 3,179

 

 

 -

 

 

 3,179

 

 

 -

   Total

$

189,247

 

$

 -

 

$

189,247

 

$

 -

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2011

 

 

 

 

 

 

 

 

 

 

 

Available for sale securities

 

 

 

 

 

 

 

 

 

 

 

   U.S. Treasury and government sponsored entities

$

161,104

 

$

 -

 

$

161,104

 

$

 -

   Municipal securities

 

 16,935

 

 

 -

 

 

 16,935

 

 

 -

   U.S. Agency mortgage-backed securities

 

 54

 

 

 -

 

 

 54

 

 

 -

   Corporate bonds

 

 42,991

 

 

 -

 

 

 42,991

 

 

 -

   Preferred stock

 

 999

 

 

 -

 

 

 999

 

 

 -

   Total

$

222,083

 

$

 -

 

$

222,083

 

$

 -

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2011

 

 

 

 

 

 

 

 

 

 

 

Available for sale securities

 

 

 

 

 

 

 

 

 

 

 

   U.S. Treasury and government sponsored entities

$

138,126

 

 

 -

 

$

138,126

 

$

 -

   Municipal securities

 

 14,402

 

 

 -

 

 

 14,402

 

 

 -

   U.S. Agency mortgage-backed securities

 

 60

 

 

 -

 

 

 60

 

 

 -

   Corporate bonds

 

 30,290

 

 

 -

 

 

 30,290

 

 

 -

   Total

$

182,878

 

$

 -

 

$

182,878

 

$

 -

 

 

 

 

 

 

 

 

 

 

 

 

Schedule Of Asset Impairment Or Valuation Adjustment Recognized At Fair Value On A Nonrecurring Basis

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

Quoted Prices in Active Markets for Identical Assets (Level 1)

 

Significant Other Observable Inputs (Level 2)

 

Significant Unobservable Inputs (Level 3)

 

Total (gains) losses

June 30, 2012

 

(In Thousands)

   Loans measured for impairment1

$

4,008

 

$

 -

 

$

2,920

 

$

1,088

 

$

(259)

    Other real estate owned2

 

639

 

 

 -

 

 

 -

 

 

639

 

 

81

      Total

$

4,647

 

$

 -

 

$

2,920

 

$

1,727

 

$

(178)

December 31, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Loans measured for impairment1

$

2,836

 

$

 -

 

$

204

 

$

2,632

 

$

797

   Other real estate owned2

$

1,432

 

$

 -

 

$

 -

 

$

1,432

 

$

92

        Total

$

4,268

 

$

 -

 

$

204

 

$

4,064

 

$

889

June 30, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Loans measured for impairment1

$

2,532

 

$

 -

 

$

1,636

 

$

896

 

$

313

   Total

$

2,532

 

$

 -

 

$

1,636

 

$

896

 

$

313

1 Relates to certain impaired collateral dependent loans.  The impairment was measured based on the fair value of collateral, in accordance with U.S. GAAP.

2Relates to certain impaired other real estate owned.  This impairment arose from an adjustment to the Company’s estimate of the fair market value of these properties based on changes in estimated costs to complete the projects and changes in market conditions.