Fair Value Measurements and Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

For financial assets and liabilities measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at March 31, 2015 and December 31, 2014 are as follows:

			March 31, 2015
			Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(in thousands)
Recurring fair value measurements:
Assets
Investment securities:
Available-for-sale:
Federal agency obligations	$	31,233	$	—	$	31,233	$	—
Residential mortgage pass-through securities		59,028		—		59,028		—
Commercial mortgage pass-through securities		3,082		—		3,082		—
Obligations of U.S. states and political subdivision		8,435		—		8,435		—
Trust preferred securities		16,456		—		16,456		—
Corporate bonds and notes		116,839		—		116,839		—
Asset-backed securities		26,092		—		26,092		—
Certificates of deposit		2,123		—		2,123		—
Equity securities		320		320		—		—
Other securities		12,513		12,513		—		—
Total available-for-sale		276,121		12,833		263,288		—
Loans held for sale		1,392		—		1,392		—
Total assets	$	277,513	$	12,833	$	264,680	$	—
Liabilities
Derivatives	$	486	$	—	$	486	$	—
Total liabilities	$	486	$	—	$	486	$	—

			December 31, 2014
			Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
(in thousands)
Recurring fair value measurements:
Assets
Investment securities:
Available-for-sale:
Federal agency obligations	$	32,817	$	—	$	32,817	$	—
Residential mortgage pass-through securities		60,356		—		60,356		—
Commercial mortgage pass-through securities		3,046		—		3,046		—
Obligations of U.S. states and political subdivision		8,406		—		8,406		—
Trust preferred securities		16,306		—		16,306		—
Corporate bonds and notes		125,777		—		125,777		—
Asset-backed securities		27,502		—		27,502		—
Certificates of deposit		2,123		—		2,123		—
Equity securities		307		307		—		—
Other securities		12,892		12,892		—		—
Total available-for-sale		289,532		13,199		276,333		—
Derivatives		48		—		48		—
Total assets	$	289,580	$	13,199	$	276,381	$	—

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

For assets measured at fair value on a non-recurring basis, the unobservable inputs used to derive fair value measurements at March 31, 2015 and December 31, 2014 were as follows:

			Range
Impaired loans	Valuation Techniques	Range of Unobservable Inputs	Minimum	Maximum
Commercial real estate	Appraisals of collateral value	Market capitalization rates. Market rental rates for similar properties	8%	12%
Other real estate owned
Commercial real estate	Appraisals of collateral value	Adjustment for age of comparable sales	0%	25%

			Range
Impaired loans	Valuation Techniques	Range of Unobservable Inputs	Minimum	Maximum
Commercial real estate	Appraisals of collateral value	Market capitalization rates. Market rental rates for similar properties	8%	12%
Other real estate owned
Commercial real estate	Appraisals of collateral value	Adjustment for age of comparable sales	0%	25%

Fair Value Measurements, Nonrecurring [Table Text Block]

			Fair Value Measurements at Reporting Date Using
Assets measured at fair value on a nonrecurring basis:	March 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans	(in thousands)
Commercial	$	194	$	—	$	—	$	194
Commercial real estate		5,823		—		—		5,823
Other real estate owned
Commercial real estate		870		—		—		870

			Fair Value Measurements at Reporting Date Using
Assets Measured at Fair Value on a Non-Recurring Basis	December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans	(in thousands)
Commercial	$	276	$	—	$	—	$	276
Commercial real estate		3,369		—		—		3,369
Other real estate owned
Commercial real estate		1,108		—		—		1,108

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of March 31, 2015 and December 31, 2014.

					Fair Value Measurements
	Carrying Amount		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs  (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
March 31, 2015
Financial assets
Cash and cash equivalents	$	88,543	$	88,543	$	88,543	$	—	$	—
Investment securities available-for-sale		276,121		276,121		12,833		263,288		—
Investment securities held-to-maturity		231,720		240,263		29,822		191,722		18,719
Restricted investment in bank stocks		24,874		n/a		n/a		n/a		n/a
Loans held for sale		1,392		1,392				1,392
Net loans		2,624,806		2,628,873		—		—		2,628,873
Accrued interest receivable		11,513		11,513		199		2,943		8,371
Financial liabilities
Noninterest-bearing deposits		479,652		479,652		479,652		—		—
Interest-bearing deposits		2,016,359		2,021,144		—		2,021,144		—
Borrowings		525,148		532,335		—		532,335		—
Subordinated debentures		5,155		4,852		—		4,852		—
Derivatives		486		486		—		486		—
Accrued interest payable		4,316		4,316		—		4,316		—

					Fair Value Measurements
	Carrying Amount		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs  (Level 2)		Significant Unobservable Inputs (Level 3)
	(in thousands)
December 31, 2014
Financial assets
Cash and cash equivalents	$	126,847	$	126,847	$	126,847	$	—	$	—
Investment securities available-for-sale		289,532		289,532		13,199		276,333		—
Investment securities held-to-maturity		224,682		231,445		29,184		183,489		18,772
Restricted investment in bank stocks		23,535		n/a		n/a		n/a		n/a
Net loans		2,524,481		2,538,415		—		—		2,538,415
Derivatives		48		48		—		48		—
Accrued interest receivable		11,700		11,700		68		3,674		7,958
Financial liabilities
Noninterest-bearing deposits		492,515		492,515		492,515		—		—
Interest-bearing deposits		1,983,092		1,990,484		—		1,990,484		—
Borrowings		495,553		505,641		—		505,641		—
Subordinated debentures		5,155		4,768		—		4,768		—
Accrued interest payable		3,930		3,930		—		3,930		—