Note 12 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

			Fair Value Measurements Using
(In thousands) Available For Sale Investment Securities	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

June 30 , 201 6
Obligations of U.S. government-sponsored entities	$	128,187	$	-	$	128,187	$	-
Obligations of states and political subdivisions		132,883				132,883		-
Mortgage-backed securities – residential		287,391		-		287,391		-
Mortgage-backed securities – commercial		25,323		-		25,323		-
Corporate debt securities		5,865		-		5,865		-
Mutual funds and equity securities		798		798		-		-
Total	$	580,447	$	798	$	579,649	$	-

			Fair Value Measurements Using
(In thousands) Available For Sale Investment Securities	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

December 31, 2015
Obligations of U.S. government-sponsored entities	$	106,906	$	-	$	106,906	$	-
Obligations of states and political subdivisions		150,266		-		150,266		-
Mortgage-backed securities – residential		297,861		-		297,861		-
Mortgage-backed securities – commercial		20,584		-		20,584		-
Corporate debt securities		5,840		-		5,840		-
Mutual funds and equity securities		745		745		-		-
Total	$	582,202	$	745	$	581,457	$	-

			Fair Value Measurements Using
(In thousands) Description	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

June 30 , 201 6
Collateral-dependent Impaired Loans
Real estate mortgage – farmland and other commercial enterprises	$	168	$	-	$	-	$	168
Total	$	168	$	-	$	-	$	168

OREO
Construction and land development	$	2,170	$	-	$	-	$	2,170
Residential real estate		69		-		-		69
Farmland and other commercial enterprises		1,202		-		-		1,202
Total	$	3,441	$	-	$	-	$	3,441

			Fair Value Measurements Using
(In thousands) Description	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 201 5
Collateral-dependent Impaired Loans
Real estate mortgage – construction and land development	$	2,908	$	-	$	-	$	2,908
Real estate mortgage – residential		3,720		-		-		3,720
Total	$	6,628	$	-	$	-	$	6,628

OREO
Construction and land development	$	2,252	$	-	$	-	$	2,252
Residential real estate		406		-		-		406
Farmland and other commercial enterprises		2,868		-		-		2,868
Total	$	5,526	$	-	$	-	$	5,526

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2016		2015		2016		2015
Impairment charges:
Collateral-dependent impaired loans	$	494	$	9	$	524	$	31
OREO		116		566		566		566
Total	$	610	$	575	$	1,090	$	597

(In thousands)	Fair Value		Valuation Technique	Unobservable Inputs	Range			Average
June 30, 2016
Collateral-dependent impaired loans	$	168	Discounted appraisals	Marketability discount	0%	-	8.3%		7.3	%
OREO	$	3,441	Discounted appraisals	Marketability discount	1.9%	-	45.4%		15.8	%
December 31, 2015
Collateral-dependent impaired loans	$	6,628	Discounted appraisals	Marketability discount	0%	-	8.3%		7.9	%
OREO	$	5,526	Discounted appraisals	Marketability discount	2.3%	-	26.9%		6.5	%

					Fair Value Measurements Using
(In thousands)	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)
June 30 , 201 6
Assets
Cash and cash equivalents	$	112,011	$	112,011	$	112,011	$	-	$	-
Held to maturity investment securities		3,585		3,831		-		3,831		-
Loans, net		947,941		943,243		-		-		943,243
Accrued interest receivable		4,970		4,970		-		4,970		-
Federal Home Loan Bank and Federal Reserve Bank Stock		9,840		N/A		-		-		-

Liabilities
Deposits		1,353,445		1,353,035		1,058,069		-		294,966
Federal funds purchased and other short-term borrowings		31,581		31,581		-		31,581		-
Securities sold under agreements to repurchase and other long-term borrowings		120,006		125,815		-		125,815		-
Subordinated notes payable to unconsolidated trusts		33,506		18,447		-		-		18,447
Accrued interest payable		803		803		-		803		-

December 31 , 201 5
Assets
Cash and cash equivalents	$	120,493	$	120,493	$	120,493	$	-	$	-
Held to maturity investment securities		3,611		3,809		-		3,809		-
Loans, net		948,960		945,809		-		-		945,809
Accrued interest receivable		5,392		5,392		-		5,392		-
Federal Home Loan Bank and Federal Reserve Bank Stock		9,368		N/A		-		-		-

Liabilities
Deposits		1,368,994		1,369,016		1,043,616		-		325,400
Federal funds purchased and other short-term borrowings		34,353		34,353		-		34,353		-
Securities sold under agreements to repurchase and other long-term borrowings		120,280		126,964		-		126,964		-
Subordinated notes payable to unconsolidated trusts		48,970		31,515		-		-		31,515
Accrued interest payable		851		851		-		851		-