Disclosures About Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

Assets and liabilities measured at fair value on a recurring basis

	September 30, 2015
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Financial Assets:
Available-for-sale securities	$	80,140	$	124,740	$	-	$	204,880
Customer interest rate swaps		-		295		-		295
Financial Liabilities:
Correspondent interest rate swaps	$	-	$	305	$	-	$	305

	December 31, 2014
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Financial Assets:
Available-for-sale securities	$	27,035	$	160,530	$	-	$	187,565
Customer interest rate swaps		-		274		-		274
Financial Liabilities:
Correspondent interest rate swaps	$	-	$	287	$	-	$	287

Schedule of fair value of assets measured on a nonrecurring basis

	September 30, 2015
	Level 3		Total		Losses for the Nine Months Ended  September 30, 2015
	(Dollars in thousands)
Assets Measured on a Nonrecurring Basis:
Impaired loans	$	19,846	$	19,846	$	2,462
Other real estate owned		1,665		1,665		155

	September 30, 2014
	Level 3		Total		Losses for the Nine Months Ended  September 30, 2014
	(Dollars in thousands)
Assets Measured on a Nonrecurring Basis:
Impaired loans	$	1,751	$	1,751	$	873
Other real estate owned		1,820		1,820		141

Estimated fair values of the Company's financial instruments

	September 30, 2015
	Carrying Value		Level 1		Level 2		Level 3		Fair Value
	(Dollars in thousands)
Financial Assets:
Cash and short term investments	$	96,451	$	96,451	$	-	$	-	$	96,451
Available-for-sale securities		204,880		80,140		124,740		-		204,880
Held-to-maturity securities		44,678		-		44,901		-		44,901
Other securities		16,977		16,977		-		-		16,977
Loans held for sale		192		192		-		-		192
Loans held for investment		1,982,280		-		-		2,000,526		2,000,526
Real estate acquired by foreclosure		1,665		-		-		1,665		1,665
Total	$	2,347,123	$	193,760	$	169,641	$	2,002,191	$	2,365,592
Financial Liabilities:
Deposits	$	1,941,140	$	-	$	1,945,896	$	-	$	1,945,896
Securities sold under agreements to repurchase		3,080		-		3,080		-		3,080
Other borrowed funds		158,893		-		158,902		-		158,902
Total	$	2,103,113	$	-	$	2,107,878	$	-	$	2,107,878

	December 31, 2014
	Carrying Value		Level 1		Level 2		Level 3		Fair Value
		(Dollars in thousands)
Financial Assets:
Cash and short term investments	$	68,923	$	68,923	$	-	$	-	$	68,923
Available-for-sale securities		187,565		27,035		160,530		-		187,565
Held-to-maturity securities		50,713		-		50,725		-		50,725
Other securities		11,365		11,365		-		-		11,365
Loans held for sale		573		573		-		-		573
Loans held for investment		1,799,155		-		-		1,788,454		1,788,454
Real estate acquired by foreclosure		4,863		-		-		4,863		4,863
Total	$	2,123,157	$	107,896	$	211,255	$	1,793,317	$	2,112,468
Financial Liabilities:
Deposits	$	1,845,713	$	-	$	1,849,281	$	-	$	1,849,281
Securities sold under agreements to repurchase		4,605		-		4,605		-		4,605
Other borrowed funds		47,586		-		47,561		-		47,561
Total	$	1,897,904	$	-	$	1,901,447	$	-	$	1,901,447