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FAIR VALUES OF FINANCIAL INSTRUMENTS: (Tables)
 12 Months Ended
Dec. 31, 2014
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities measured at fair value
The fair value of derivatives is based on valuation models using observable market data as of the measurement date (Level 2 inputs). 
 
 
December 31, 2014
Fair Value Measurement Using
(Dollar amounts in thousands)
 
Level 1
 
Level 2
 
Level 3
 
Carrying Value
U.S. Government entity mortgage-backed securities
 
$
—

 
$
1,467

 
$
—

 
$
1,467

Mortgage-backed securities, residential
 
—

 
187,936

 
—

 
187,936

Mortgage-backed securities, commercial
 
—

 
17

 
—

 
17

Collateralized mortgage obligations
 
—

 
484,655

 
—

 
484,655

State and municipal obligations
 
—

 
201,775

 
5,900

 
207,675

Collateralized debt obligations
 
—

 
—

 
15,303

 
15,303

TOTAL
 
$
—

 
$
875,850

 
$
21,203

 
$
897,053

Derivative Assets
 
 

 
$
1,062

 
 

 
 

Derivative Liabilities
 
 

 
(1,062
)
 
 

 
 

 
 
December 31, 2013
Fair Value Measurement Using
(Dollar amounts in thousands)
 
Level 1
 
Level 2
 
Level 3
 
Carrying Value
U.S. Government entity mortgage-backed securities
 
$
—

 
$
1,633

 
$
—

 
$
1,633

Mortgage-backed securities, residential
 
—

 
197,764

 
—

 
197,764

Mortgage-backed securities, commercial
 
—

 
4,391

 
—

 
4,391

Collateralized mortgage obligations
 
—

 
506,741

 
—

 
506,741

State and municipal obligations
 
—

 
190,462

 
4,525

 
194,987

Collateralized debt obligations
 
—

 
—

 
9,044

 
9,044

TOTAL
 
$
—

 
$
900,991

 
$
13,569

 
$
914,560

Derivative Assets
 
 

 
$
1,195

 
 

 
 

Derivative Liabilities
 
 

 
(1,195
)
 
 

 
 
Roll forward of financial instruments having fair value measurements using significant unobservable inputs (Level 3)
The table below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the twelve months ended December 31, 2014 and 2013.
 
 
 
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
December 31, 2014
 
 
State and municipal obligations
 
Collateralized debt obligations
 
Total
Beginning balance, January 1
 
$
4,525

 
$
9,044

 
$
13,569

Total realized/unrealized gains or losses
 
 

 
 

 
 

Included in earnings
 
—

 
—

 
—

Included in other comprehensive income
 
—

 
7,100

 
7,100

Purchases
 
4,000

 
—

 
4,000

Settlements
 
(2,625
)
 
(841
)
 
(3,466
)
Ending balance, December 31
 
$
5,900

 
$
15,303

 
$
21,203

 
 
 
Fair Value Measurements Using SignificantUnobservable Inputs (Level 3)
December 31, 2013
 
 
State and
municipal
obligations
 
Collateralized
debt
obligations
 
Total
Beginning balance, January 1
 
$
9,911

 
$
6,122

 
$
16,033

Total realized/unrealized gains or losses
 
 

 
 

 
 

Included in earnings
 
—

 
904

 
904

Included in other comprehensive income
 
—

 
3,155

 
3,155

Transfers
 
(1,186
)
 
—

 
(1,186
)
Settlements
 
(4,200
)
 
(1,137
)
 
(5,337
)
Ending balance, December 31
 
$
4,525

 
$
9,044

 
$
13,569
Quantitative information about recurring and non-recurring Level 3
The following tables present quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31, 2014 and 2013.
2014
 
Fair Value
 
Valuation Technique(s)
 
Unobservable Input(s)
 
Range
State and municipal obligations
 
$
5,900

 
Discounted cash flow
 
Discount rate
 
3.05%-5.50%

 
 
 

 
 
 
Probability of default
 
—
%
Other real estate
 
$
3,965

 
Sales comparison/income approach
 
Discount rate for age of appraisal and market conditions
 
5.00%-20.00%

Impaired Loans
 
$
11,477

 
Sales comparison/income approach
 
Discount rate for age of appraisal and market conditions
 
 0.00%-50.00%


 
2013
 
Fair Value
 
Valuation Technique(s)
 
Unobservable Input(s)
 
Range
State and municipal obligations
 
$
4,525

 
Discounted cash flow
 
Discount rate
 
3.05%-5.50%

 
 
 

 
 
 
Probability of default
 
—
%
Other real estate
 
$
5,291

 
Sales comparison/income approach
 
Discount rate for age of appraisal and market conditions
 
5.00%-20.00%

Impaired Loans
 
$
13,765

 
Sales comparison/income approach
 
Discount rate for age of appraisal and market conditions
 
 0.00%-50.00%
Schedule of loans identified as impaired by class of loans
The following tables present impaired collateral dependent loans measured at fair value on a non-recurring basis by class of loans as of December 31, 2014 and 2013. 
 
 
December 31, 2014
 
 
(Dollar amounts in thousands)
 
Carrying Value
 
Allowance
for Loan
Losses
Allocated
 
Fair Value
Commercial
 
 

 
 

 
 

Commercial & Industrial
 
$
5,874

 
$
1,056

 
$
4,818

Farmland
 
—

 
—

 
—

Non Farm, Non Residential
 
6,654

 
753

 
5,901

Agriculture
 
—

 
—

 
—

All Other Commercial
 
827

 
102

 
725

Residential
 
 

 
 

 
 

First Liens
 
33

 
—

 
33

Home Equity
 
—

 
—

 
—

Junior Liens
 
—

 
—

 
—

Multifamily
 
—

 
—

 
—

All Other Residential
 
—

 
—

 
—

Consumer
 
 

 
 

 
 

Motor Vehicle
 
—

 
—

 
—

All Other Consumer
 
—

 
—

 
—

TOTAL
 
$
13,388

 
$
1,911

 
$
11,477

 
 
 
December 31, 2013
 
 
(Dollar amounts in thousands)
 
Carrying Value
 
Allowance
for Loan
Losses
Allocated
 
Fair Value
Commercial
 
 

 
 

 
 

Commercial & Industrial
 
$
8,620

 
$
1,612

 
$
7,008

Farmland
 
—

 
—

 
—

Non Farm, Non Residential
 
7,204

 
1,500

 
5,704

Agriculture
 
—

 
—

 
—

All Other Commercial
 
1,062

 
46

 
1,016

Residential
 
 

 
 

 
 

First Liens
 
37

 
—

 
37

Home Equity
 
—

 
—

 
—

Junior Liens
 
—

 
—

 
—

Multifamily
 
—

 
—

 
—

All Other Residential
 
—

 
—

 
—

Consumer
 
 

 
 

 
 

Motor Vehicle
 
—

 
—

 
—

All Other Consumer
 
—

 
—

 
—

TOTAL
 
$
16,923

 
$
3,158

 
$
13,765
Schedule of carrying amount and estimated fair value of financial instruments
The carrying amount and estimated fair value of assets and liabilities are presented in the table below and were determined based on the above assumptions:
 
 
 
December 31, 2014
 
 
 
 
 
 
Carrying
 
Fair Value 
(Dollar amounts in thousands)
 
Value
 
Level 1
 
Level 2
 
Level 3
 
Total
Cash and due from banks
 
$
78,102

 
$
22,597

 
$
55,505

 
$
—

 
$
78,102

Federal funds sold
 
8,000

 
—

 
8,000

 
—

 
8,000

Securities available-for-sale
 
897,053

 
—

 
875,850

 
21,203

 
897,053

Restricted stock
 
16,404

 
n/a

 
n/a

 
n/a

 
n/a

Loans, net
 
1,762,589

 
—

 
—

 
1,810,885

 
1,810,885

FDIC Indemnification Asset
 
(74
)
 
—

 
(74
)
 
—

 
(74
)
Accrued interest receivable
 
11,593

 
—

 
3,183

 
8,410

 
11,593

Deposits
 
(2,457,197
)
 
—

 
(2,459,703
)
 
—

 
(2,459,703
)
Short-term borrowings
 
(48,015
)
 
—

 
(48,015
)
 
—

 
(48,015
)
Federal Home Loan Bank advances
 
(12,886
)
 
—

 
(13,605
)
 
—

 
(13,605
)
Accrued interest payable
 
(456
)
 
—

 
(456
)
 
—

 
(456
)
 
 
 
December 31, 2013
 
 
 
 
 
 
Carrying
 
Fair Value 
(Dollar amounts in thousands)
 
Value
 
Level 1
 
Level 2
 
Level 3
 
Total
Cash and due from banks
 
$
71,033

 
$
22,455

 
$
48,578

 
$
—

 
$
71,033

Federal funds sold
 
4,276

 
—

 
4,276

 
—

 
4,276

Securities available-for-sale
 
914,560

 
—

 
900,991

 
13,569

 
914,560

Restricted stock
 
21,057

 
n/a

 
n/a

 
n/a

 
n/a

Loans, net
 
1,771,360

 
—

 
—

 
1,816,726

 
1,816,726

FDIC Indemnification Asset
 
1,055

 
—

 
1,055

 
—

 
1,055

Accrued interest receivable
 
11,554

 
—

 
3,279

 
8,275

 
11,554

Deposits
 
(2,458,791
)
 
—

 
(2,463,330
)
 
—

 
(2,463,330
)
Short-term borrowings
 
(59,592
)
 
—

 
(59,592
)
 
—

 
(59,592
)
Federal Home Loan Bank advances
 
(58,288
)
 
—

 
(60,258
)
 
—

 
(60,258
)
Accrued interest payable
 
(750
)
 
—

 
(750
)
 
—

 
(750
)