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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Carrying Amount And Estimated Fair Value Of Assets And Liabilities

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

 

 

 

 

Quoted prices

 

Significant

 

 

 

 

 

 

 

in active

 

other

 

Significant

 

 

 

 

 

markets for

 

observable

 

unobservable

   

Carrying

 

Estimated

 

identical assets

 

inputs

 

inputs

 

amount

 

fair value

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

(dollars in thousands)

Investment securities available-for-sale

$                 1,253,117 

 

$                 1,253,117 

 

$                64,971 

 

$             1,187,595 

 

$                551 

Investment securities held-to-maturity

97,205 

 

95,030 

 

7,286 

 

 -

 

87,744 

Federal Home Loan and Atlantic Central Bankers Bank stock

3,209 

 

3,209 

 

 -

 

 -

 

3,209 

Commercial loans held for sale

69,904 

 

69,904 

 

 -

 

 -

 

69,904 

Loans, net

1,958,445 

 

1,954,058 

 

 -

 

 -

 

1,954,058 

Demand and interest checking

3,722,602 

 

3,722,602 

 

3,722,602 

 

 -

 

 -

Savings and money market

536,162 

 

536,162 

 

536,162 

 

 -

 

 -

Time deposits

14,225 

 

14,444 

 

 -

 

 -

 

14,444 

Subordinated debentures

13,401 

 

9,287 

 

 -

 

 -

 

9,287 

Securities sold under agreements to repurchase

21,221 

 

21,221 

 

21,221 

 

 -

 

 -

Interest rate swaps

481 

 

481 

 

 -

 

481 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

Quoted prices

 

Significant

 

 

 

 

 

 

 

in active

 

other

 

Significant

 

 

 

 

 

markets for

 

observable

 

unobservable

   

Carrying

 

Estimated

 

identical assets

 

inputs

 

inputs

 

amount

 

fair value

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

(in thousands)

Investment securities available-for-sale

$                    718,065 

 

$                    718,065 

 

$                      - 

 

$                717,468 

 

$                597 

Investment securities held-to-maturity

45,179 

 

41,008 

 

 -

 

 -

 

41,008 

Federal Home Loan and Atlantic Central Bankers Bank stock

3,621 

 

3,621 

 

 -

 

 -

 

3,621 

Commercial loans held for sale

11,341 

 

11,341 

 

 -

 

 -

 

11,341 

Loans, net

1,902,854 

 

1,900,191 

 

 -

 

 -

 

1,900,191 

Demand and interest checking

2,775,207 

 

2,775,207 

 

2,775,207 

 

 -

 

 -

Savings and money market

517,098 

 

517,098 

 

517,098 

 

 -

 

 -

Time deposits

20,916 

 

20,985 

 

 -

 

 -

 

20,985 

Subordinated debentures

13,401 

 

9,287 

 

 -

 

 -

 

9,287 

Securities sold under agreements to repurchase

18,548 

 

18,548 

 

18,548 

 

 -

 

 -

Interest rate swaps

45 

 

45 

 

 -

 

45 

 

 -

 

Changes In Company's Level 3 Assets

 

 

 

 

 

 

 

 

 

Fair Value Measurements Using

 

Significant Unobservable Inputs

 

(Level 3)

 

 

 

 

 

 

 

 

 

Available-for-sale

 

Held-for-sale

 

securities

 

loans

 

December 31, 2013

 

December 31, 2012

 

December 31, 2013

 

December 31, 2012

Beginning balance

$                            597 

 

$                           630 

 

$                              11,341 

 

$                                       - 

Transfers into level 3

 -

 

 -

 

 -

 

 -

Transfers out of level 3

 -

 

 -

 

 -

 

 -

Total gains or losses (realized/unrealized)

 

 

 

 

 

 

 

Included in earnings

(1)

 

(2)

 

3,082 

 

376 

Included in other comprehensive income

21 

 

20 

 

 -

 

 -

Purchases, issuances, and settlements

 

 

 

 

 

 

 

Purchases

 -

 

 -

 

 

 

 -

Issuances

 -

 

 -

 

309,358 

 

28,876 

Sales

 

 

 

 

(253,832)

 

(17,911)

Settlements

(66)

 

(51)

 

(45)

 

 -

Ending balance

$                                  551 

 

$                                  597 

 

$                              69,904 

 

$                              11,341 

 

 

 

 

 

 

 

 

The amount of total gains or losses for the period

 

 

 

 

 

 

 

included in earnings attributable to the change in

 

 

 

 

 

 

 

unrealized gains or losses relating to assets still

 

 

 

 

 

 

 

held at the reporting date.

$                                      - 

 

$                                      - 

 

$                                2,441 

 

$                                   222 

 

Fair Value, Measurements, Recurring [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Assets Measured At Fair Value On A Recurring And Nonrecurring Basis

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Quoted prices in active

 

Significant other

 

Significant

 

 

 

markets for identical

 

observable

 

unobservable

 

Fair value

 

assets

 

inputs

 

inputs

 

December 31, 2013

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

 

 

 

 

 

 

 

Investment securities available for sale

 

 

 

 

 

 

 

U.S. Government agency securities

$                            10,726 

 

$                                400 

 

$                              10,326 

 

$                                       - 

Federally insured student loan securities

147,573 

 

 -

 

147,573 

 

 -

Obligations of states and political subdivisions

458,118 

 

2,277 

 

455,841 

 

 -

Residential mortgage-backed securities

322,774 

 

 -

 

322,774 

 

 -

Commercial mortgage-backed securities

120,347 

 

 -

 

120,347 

 

 -

Other debt securities

193,579 

 

62,294 

 

130,734 

 

551 

Total investment securities available for sale

1,253,117 

 

64,971 

 

1,187,595 

 

551 

Loans held for sale

69,904 

 

 -

 

 -

 

69,904 

Interest rate swaps

481 

 

 -

 

481 

 

 -

 

$                       1,323,502 

 

$                           64,971 

 

$                         1,188,076 

 

$                              70,455 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Quoted prices in active

 

Significant other

 

Significant

 

 

 

markets for identical

 

observable

 

unobservable

 

Fair value

 

assets

 

inputs

 

inputs

 

December 31, 2012

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

 

 

 

 

 

 

 

Investment securities available for sale

 

 

 

 

 

 

 

U.S. Government agency securities

$                             7,500 

 

$                                   - 

 

$                                7,500 

 

$                                       - 

Federally insured student loan securities

143,770 

 

 -

 

143,770 

 

 -

Obligations of states and political subdivisions

159,093 

 

 -

 

159,093 

 

 -

Residential mortgage-backed securities

277,807 

 

 -

 

277,807 

 

 -

Commercial mortgage-backed securities

97,031 

 

 -

 

97,031 

 

 -

Other debt securities

32,864 

 

 -

 

32,267 

 

597 

Total investment securities available for sale

718,065 

 

 -

 

717,468 

 

597 

Loans held for sale

11,341 

 

 -

 

 -

 

11,341 

Interest rate swaps

45 

 

 -

 

 -

 

45 

 

$                         729,451 

 

$                                   - 

 

$                            717,468 

 

$                              11,983 

 

Fair Value, Measurements, Nonrecurring [Member]
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Assets Measured At Fair Value On A Recurring And Nonrecurring Basis

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Quoted prices in active

 

Significant other

 

Significant

 

 

 

markets for identical

 

observable

 

unobservable

 

 

 

assets

 

inputs

 

inputs

Description

December 31, 2013

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

 

 

 

 

 

 

 

Impaired loans

$                            40,767 

 

$                                   - 

 

$                                      - 

 

$                             40,767 

Other real estate owned

26,295 

 

 -

 

 -

 

26,295 

Intangible assets

7,612 

 

 -

 

 -

 

7,612 

 

$                            74,674 

 

$                                   - 

 

$                                      - 

 

$                             74,674 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Quoted prices in active

 

Significant other

 

Significant

 

 

 

markets for identical

 

observable

 

unobservable

 

 

 

assets

 

inputs

 

inputs

Description

December 31, 2012

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

 

 

 

 

 

 

 

Impaired loans

$                            25,841 

 

$                                   - 

 

$                                      - 

 

$                             25,841 

Other real estate owned

4,241 

 

 -

 

 -

 

4,241 

Intangible assets

7,004 

 

 -

 

 -

 

7,004 

 

$                            37,086 

 

$                                   - 

 

$                                      - 

 

$                             37,086