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NOTE 13 - FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2013
Fair Value Disclosures [Abstract]  
Schedule of assets measured at fair value on a recurring basis
    As of March 31, 2013  
    Fair Value     Level 1     Level 2     Level 3  
Available-for-sale securities:                                
Obligations of U.S. government sponsored agencies   $ 24,707     $     $ 24,707     $  
Obligations of state and political subdivisions     8,632             8,632        
Government sponsored agency mortgage-backed securities     242,416             242,416        
Corporate debt securities     4,875             4,875        
Equity securities     3,091             3,091        
    $ 283,721     $     $ 283,721     $  

 

    At December 31, 2012  
    Fair Value     Level 1     Level 2     Level 3  
Available-for-sale securities:                                
Obligations of U.S. government sponsored agencies   $ 21,118     $     $ 21,118     $  
Obligations of state and political subdivisions     11,197             11,197        
Government sponsored agency mortgage-backed securities     245,631             245,631        
Corporate debt securities     4,756             4,756        
Equity securities     3,113             3,113        
    $ 285,815     $     $ 285,815     $  
 
Schedule of level of valuation assumptions used to determine each adjustment and the carrying value of related assets

 
              Total Losses  
    As of March 31, 2013     For three months ended March 31,  
    Fair Value     Level 1     Level 2     Level 3     2013     2012  
Impaired loans:                                                
Commercial   $ 226     $     $     $ 226     $ 287     $ 199  
Real estate - commercial     1,067                   1,067       437       179  
Real estate - construction     450                   450       357       211  
Real estate - mortgage     164                   164       86       9  
Real estate - other                                   34  
OREO:                                                
Real estate - commercial     3,192                   3,192       215       275  
Real estate - construction     138                   138       46       46  
Real estate - mortgage                                   75  
Total assets measured at fair value on a nonrecurring basis   $ 5,237     $     $     $ 5,237     $ 1,428     $ 1,028  

 

                         
    As of December 31, 2012  
    Fair Value     Level 1     Level 2     Level 3  
                         
Impaired loans:                                
Commercial   $ 585     $     $     $ 585  
Real estate - commercial     2,222                   2,222  
Real estate - construction     143                   143  
Real estate - mortgage     464                   464  
Installment     75                   75  
Other     25                   25  
OREO:                                
Real estate - construction     7,360                   7,360  
Real estate - mortgage     184                   184  
Total assets measured at fair value on a nonrecurring basis   $ 11,058     $     $     $ 11,058  
Schedule of quantitative information about level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis

As of March 31, 2013

 

                  Range
(Weighted
    Fair Value     Valuation Techniques   Unobservable Inputs   Average)
Impaired loans:                    
Real estate - commercial   $ 1,067     Comparable sales approach   Discount adjustment for differences between comparable sales   6% to 11% (9%)
Real estate - construction   450     Comparable sales approach   Discount adjustment for differences between comparable sales   2% to 3% (3%)
Real estate - mortgage   164     Comparable sales approach   Discount adjustment for differences between comparable sales   6% to 11% (9%)
OREO:                    
Real estate - commercial   3,192     Comparable sales approach   Discount adjustment for differences between comparable sales   6% to 11% (9%)
Real estate - construction   138     Comparable sales approach   Discount adjustment for differences between comparable sales   0% to 6% (6%)

 

As of December 31, 2012

 

                  Range
(Weighted
    Fair Value     Valuation Techniques   Unobservable Inputs   Average)
Impaired loans:                    
Real estate - commercial   2,222     Comparable sales approach   Discount adjustment for differences between comparable sales   6% to 11% (9%)
Real estate - construction   143     Comparable sales approach   Discount adjustment for differences between comparable sales   2% to 3% (3%)
Real estate - mortgage   464     Comparable sales approach   Discount adjustment for differences between comparable sales   6% to 11% (9%)
OREO:                    
Real estate - construction   7,360     Comparable sales approach   Discount adjustment for differences between comparable sales   0% to 6% (6%)
Real estate - mortgage   184     Comparable sales approach   Discount adjustment for differences between comparable sales   6% to 11% (9%)

 

Schedule of estimated fair values of financial instruments

 

          Fair Value Measurements at        
          March 31, 2013, Using        
    Carrying                          
    Amount     Level 1     Level 2     Level 3     Total  
FINANCIAL ASSETS                                        
Cash and due from banks   $ 15,890     $ 15,890     $     $     $ 15,890  
Federal funds sold     35,925       35,925                   35,925  
Time deposits at other financial institutions     2,219             2,219             2,219  
FHLB, FRB and other securities     8,313                         N/A  
Securities:                                        
Available-for-sale     283,721             283,721             283,721  
Held-to-maturity     6             6             6  
Loans     478,955                   495,150       495,150  
Accrued interest receivable     2,182             730       1,452       2,182  
                                         
FINANCIAL LIABILITIES                                        
Deposits:                                        
Nonmaturity deposits   $ 613,435     $ 613,435     $     $     $ 613,435  
Time deposits     162,485             162,833             162,833  
Subordinated debentures     21,651                   8,720       8,720  
Accrued interest payable     121       4       39       78       121  
 
          Fair Value Measurements at        
          December 31, 2012, Using        
    Carrying                          
    Amount     Level 1     Level 2     Level 3     Total  
FINANCIAL ASSETS                                        
Cash and due from banks   $ 22,654     $ 22,654     $     $     $ 22,654  
Federal funds sold     15,865       15,865                   15,865  
Time deposits at other financial institutions     2,219             2,219             2,219  
FHLB, FRB and other securities     8,313                         N/A  
Securities:                                        
Available-for-sale     285,815             285,815             285,815  
Held-to-maturity     6             6             6  
Loans     481,753                   500,689       500,689  
Accrued interest receivable     2,217             767       1,450       2,217  
                                         
FINANCIAL LIABILITIES                                        
Deposits:                                        
Nonmaturity deposits   $ 596,204     $ 596,204     $     $     $ 596,204  
Time deposits     172,376             172,805             172,805  
Subordinated debentures     21,651                   9,018       9,018  
Accrued interest payable     136       2       54       80       136