Fair Value Of Assets And Liabilities (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Of Assets And Liabilities [Abstract]

Schedule Of Estimated Fair Values

		September 30, 2013				December 31, 2012
(In Thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair  Value
Financial assets:
Level 1 inputs:
Cash, due from banks and deposits in other banks	$	85,595	$	85,595	$	154,813	$	154,813
Level 2 inputs:
Investment securities		243,147		243,297		208,634		208,863
Accrued interest receivable		2,762		2,762		2,618		2,618
Interest rate contracts		123		123		-		-
Level 3 inputs:
Loans and loans held for sale, net		751,728		751,487		699,510		696,951
Purchased receivables, net		13,801		13,801		19,022		19,022
Financial liabilities:
Level 2 inputs:
Deposits	$	968,229	$	968,092	$	970,129	$	969,958
Securities sold under repurchase agreements		23,015		23,015		19,038		19,038
Borrowings		6,578		6,766		4,479		4,193
Junior subordinated debentures		18,558		15,909		18,558		18,590
Accrued interest payable		52		52		47		47
Interest rate contracts		123		123		-		-
Unrecognized financial instruments:
Commitments to extend credit1	$	189,595	$	1,896	$	208,328	$	2,083
Standby letters of credit1		7,477		75		22,132		221

¹Carrying 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

(In Thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2013
Assets
Available for sale securities
U.S. Treasury and government sponsored entities	$	158,008	$	-	$	158,008	$	-
Municipal securities		20,319		-		20,319		-
U.S. Agency mortgage-backed securities		27		-		27		-
Corporate bonds		57,130		-		57,130		-
Preferred stock		3,004		-		3,004		-
Total available for sale securities	$	238,488	$	-	$	238,488	$	-
Other assets (interest rate contracts)		123		-		123		-
Liabilities
Other liabilities (interest rate contracts)	$	123	$	-	$	123	$	-
December 31, 2012
Assets
Available for sale securities
U.S. Treasury and government sponsored entities	$	124,414	$	-	$	124,414	$	-
Municipal securities		21,728		-		21,728		-
U.S. Agency mortgage-backed securities		36		-		36		-
Corporate bonds		53,982		-		53,982		-
Preferred stock		3,758		-		3,758		-
Total available for sale securities	$	203,918	$	-	$	203,918	$	-

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

(In Thousands)	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
September 30, 2013
Loans measured for impairment1	$	498	$	-	$	-	$	498	$	(474)
Other real estate owned2		426		-		-		426		70
Total	$	924	$	-	$	-	$	924	$	(404)
September 30, 2012
Loans measured for impairment1	$	3,676	$	-	$	2,694	$	982	$	(439)
Other real estate owned2		694		-		-		694		173
Total	$	4,370	$	-	$	2,694	$	1,676	$	(266)

¹Relates to certain impaired collateral dependent loans. The impairment was measured based on the fair value of collateral, in accordance with U.S. GAAP. The unobservable inputs for Level 3 impaired loans did not change between December 31, 2012 and September 30, 2013. The gains related to loans measured for impairment noted above result primarily from principal pay downs on impaired loans during the period.

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. The Company took a weighted average discount of 16% on impaired other real estate owned classified as Level 3 assets.