Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of assets reported on the balance sheet at their fair value on a recurring basis

The following table presents the assets reported on the balance sheet at their fair value on a recurring basis as of March 31, 2015 and December 31, 2014, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.



	March 31, 2015
(In Thousands)	Level I		Level II		Level III		Total
Assets measured on a recurring basis:
Investment securities, available for sale:
U.S. Government and agency securities	$	—	$	3,670	$	—	$	3,670
Mortgage-backed securities	—		11,968		—		11,968
Asset-backed securities	—		2,367		—		2,367
State and political securities	—		103,234		—		103,234
Other debt securities	—		90,112		—		90,112
Financial institution equity securities	9,653		—		—		9,653
Other equity securities	4,298		—		—		4,298
Total assets measured on a recurring basis	$	13,951	$	211,351	$	—	$	225,302



	December 31, 2014
(In Thousands)	Level I		Level II		Level III		Total
Assets measured on a recurring basis:
Investment securities, available for sale:
U.S. Government and agency securities	$	—	$	3,841	$	—	$	3,841
Mortgage-backed securities	—		12,697		—		12,697
Asset-backed securities	—		2,492		—		2,492
State and political securities	—		108,116		—		108,116
Other debt securities	—		89,643		—		89,643
Financial institution equity securities	9,915		—		—		9,915
Other equity securities	5,509		—		—		5,509
Total assets measured on a recurring basis	$	15,424	$	216,789	$	—	$	232,213

Schedule of assets reported on the consolidated balance sheet at their fair value on a non-recurring basis

The following table presents the assets reported on the Consolidated Balance Sheet at their fair value on a non-recurring basis as of March 31, 2015 and December 31, 2014, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.



	March 31, 2015
(In Thousands)	Level I		Level II		Level III		Total
Assets measured on a non-recurring basis:
Impaired loans	$	—	$	—	$	16,650	$	16,650
Other real estate owned	—		—		3,042		3,042
Total assets measured on a non-recurring basis	$	—	$	—	$	19,692	$	19,692



	December 31, 2014
(In Thousands)	Level I		Level II		Level III		Total
Assets measured on a non-recurring basis:
Impaired loans	$	—	$	—	$	15,483	$	15,483
Other real estate owned	—		—		3,241		3,241
Total assets measured on a non-recurring basis	$	—	$	—	$	18,724	$	18,724

Schedule of listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques

The following tables present a listing of significant unobservable inputs used in the fair value measurement process for items valued utilizing level III techniques as of March 31, 2015 and December 31, 2014:

March 31, 2015

Quantitative Information About Level III Fair Value Measurements

(In Thousands)

Fair Value

Valuation Technique(s)

Unobservable Inputs

Range

Weighted Average

Impaired loans

5,953

Discounted cash flow

Temporary reduction in payment amount

0 to (91)%

(8)%

Probability of default

—%

10,697

Appraisal of collateral

Appraisal adjustments (1)

0 to (20)%

(15)%

Other real estate owned

3,042

Appraisal of collateral (1)

(1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.

December 31, 2014