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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.