Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Measurements

Schedule of financial assets and financial liabilities measured at fair value on a recurring basis

	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
	(dollars in thousands)
March 31, 2014
Securities available for sale
U.S. Treasury securities	$	—	$	50,670	$	—	$	50,670
Obligations of U.S. government corporations and agencies	—		231,245		—		231,245
Obligations of states and political subdivisions	—		253,722		—		253,722
Residential mortgage-backed securities	—		269,454		—		269,454
Corporate debt securities	—		42,756		—		42,756
Mutual funds and other equity securities	4,989		—		—		4,989
Derivative assets
Foreign currency forward contracts	—		2		—		2
Derivative liabilities
Foreign currency forward contracts	—		3		—		3
December 31, 2013
Securities available for sale
U.S. Treasury securities	$	—	$	102,640	$	—	$	102,640
Obligations of U.S. government corporations and agencies	—		257,411		—		257,411
Obligations of states and political subdivisions	—		272,152		—		272,152
Residential mortgage-backed securities	—		177,735		—		177,735
Corporate debt securities	—		25,506		—		25,506
Mutual funds and other equity securities	5,866		—		—		5,866

Schedule of assets and liabilities measured at fair value on a non-recurring basis

	Level 1		Level 2		Level 3		Total
	Inputs		Inputs		Inputs		Fair Value
	(dollars in thousands)
March 31, 2014
Impaired loans	$	—	$	—	$	4,227	$	4,227
OREO	—		—		1,137		1,137
December 31, 2013
Impaired loans	$	—	$	—	$	5,491	$	5,491
OREO	—		—		1,134		1,134

Schedule of quantitative information about Level 3 fair value measurements

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value		Valuation	Unobservable	Range
	Estimate		Techniques	Input	(Weighted Average)
	(dollars in thousands)
March 31, 2014
Impaired loans	$	4,227	Appraisal of collateral	Appraisal adjustments	-1.7% to -100.0% (-41.7%)
OREO	1,137		Appraisal of collateral	Appraisal adjustments	-6.6% to -100.0% (-47.9%)
December 31, 2013
Impaired loans	$	5,491	Appraisal of collateral	Appraisal adjustments	-0.4% to -100.0% (-36.0%)
OREO	1,134		Appraisal of collateral	Appraisal adjustments	-6.6% to -100.0% (-47.9%)

Schedule of estimated fair values of financial instruments

	March 31, 2014				December 31, 2013
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
	(dollars in thousands)
Financial assets:
Level 2 inputs:
Cash and due from banks	$	288,554	$	288,554	$	231,603	$	231,603
Securities held to maturity	1,857		1,859		834		831
Loans held for sale	7,046		7,206		13,840		14,103
Accrued interest receivable	11,907		11,907		11,148		11,148
Level 3 inputs:
Loans, net	2,178,160		2,177,082		2,233,893		2,236,841
Financial liabilities:
Level 2 inputs:
Deposits	$	2,927,173	$	2,928,283	$	2,869,138	$	2,870,870
Securities sold under agreements to repurchase	117,238		117,238		172,348		172,348
Junior subordinated debt owed to unconsolidated trusts	55,000		55,000		55,000		55,000
Accrued interest payable	597		597		673		673