Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Schedule Of Estimated Fair Values

Estimated fair values as of the periods indicated are as follows:

	December 31, 2014				December 31, 2013
(In Thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair  Value
Financial assets:
Level 1 inputs:
Cash, due from banks and deposits in other banks		$72,056		$72,056		$99,091		$99,091
Investment securities	45,570		45,570		20,487		20,487
Level 2 inputs:
Investment securities	241,765		241,872		232,305		232,458
Accrued interest receivable	3,373		3,373		2,729		2,729
Interest rate contracts	78		78		186		186
Level 3 inputs:
Loans and loans held for sale, net	951,647		957,643		765,035		769,570
Purchased receivables, net	15,254		15,254		16,025		16,025
Interest rate lock commitments	841		841		—		—
Mortgage servicing rights	1,010		1,010		—		—
Financial liabilities:
Level 2 inputs:
Deposits		$1,179,747		$1,180,136		$1,003,723		$1,003,816
Securities sold under repurchase agreements	19,843		19,843		21,143		21,143
Borrowings	26,304		26,485		6,527		6,448
Accrued interest payable	18		18		52		52
Interest rate contracts	158		158		186		186
Level 3 inputs:
Junior subordinated debentures	18,558		17,239		18,558		15,456
Unrecognized financial instruments:
Commitments to extend credit(1)		$219,349		$2,193		$187,931		$1,879
Standby letters of credit(1)	6,004		60		6,463		65

⁽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

The following table sets forth the balances as of the periods indicated of assets 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)
December 31, 2014
Assets:
Available for sale securities
U.S. Treasury and government sponsored entities		$226,190		$15,545		$210,645		$—
Municipal securities	12,124		—		12,124		—
U.S. Agency mortgage-backed securities	1,029		—		1,029		—
Corporate bonds	39,235		26,873		12,362		—
Preferred stock	3,152		3,152		—		—
Total available for sale securities		$281,730		$45,570		$236,160		$—
Interest rate contracts		$78		$—		$78		$—
Interest rate lock commitments	841		—		—		841
Mortgage servicing rights	1,010		—		—		1,010
Total other assets		$1,929		$—		$78		$1,851
Liabilities:
Interest rate contracts		$158		$—		$158		$—
December 31, 2013
Assets:
Available for sale securities
U.S. Treasury and government sponsored entities		$168,702		$5,538		$163,164		$—
Municipal securities	20,149		419		19,730		—
U.S. Agency mortgage-backed securities	25		—		25		—
Corporate bonds	56,778		11,496		45,282		—
Preferred stock	3,034		3,034		—		—
Total available for sale securities		$248,688		$20,487		$228,201		$—
Interest rate contracts		$186		$—		$186		$—
Liabilities:
Interest rate contracts		$186		$—		$186		$—

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

For 2014 and 2013, no impairment or valuation adjustment was recognized for assets recognized at fair value on a nonrecurring basis, except for certain assets as shown in the following table.  For loans measured for impairment, the Company classifies fair value measurements using observable inputs, such as external appraisals, as Level 2 valuations in the fair value hierarchy, and unobservable inputs, such as in-house evaluations, as Level 3 valuations in the fair value hierarchy.    

(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
December 31, 2014
Loans measured for impairment		$806		$—		$—		$806		$75
Other real estate owned	423		—		—		423		56
Total		$1,229		$—		$—		$1,229		$131
December 31, 2013
Loans measured for impairment		$187		$—		$—		$187		$11
Other real estate owned	736		—		—		736		112
Total		$923		$—		$—		$923		$123

Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3)

The following table provides a description of the valuation technique, unobservable input, and qualitative information about the unobservable inputs for the Company’s assets and liabilities classified as Level 3 and measured at fair value on a nonrecurring basis at December 31, 2014:

Financial Instrument	Valuation Technique	Unobservable Input	Weighted Average Rate Range
Loans measured for impairment	In-house valuation of real estate; discounted cash flow	Discount rate	50	%
		Cash flows	NA(1)
Other real estate owned	Fair value of collateral	Estimated capital costs to complete improvements	10% - 40%
Interest rate lock commitment	External pricing model	Pull through rate	93.6	%
Mortgage servicing rights	Discounted cash flow	Constant prepayment rate	9.95% - 25.77%
		Discount rate	9.25% - 10%

⁽¹⁾  Fair value of impaired collateral dependent loans was calculated using contractual cash flows for specific impaired loan.