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FAIR VALUE (Tables)
 12 Months Ended
Dec. 31, 2013
FAIR VALUE  
Schedule of assets and liabilities measured at fair value on a recurring basis

 

 
    
   Fair Value Measurements at December 31, 2013 Using:  
(Dollars in thousands)
   Carrying
Value
   Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
   Significant
Other Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
  
   

Financial Assets

                          

Investment securities available-for-sale

                          

U. S. government agency

   $ 798         $ 798        

States and municipal

     331,112           316,692     14,420  

Mortgage-backed securities — residential — Government Sponsored Entity                                

     185,429           185,429        

Collateralized mortgage obligations — Government Sponsored Entity

     365,309           365,309        

Equity securities

     4,939     4,689           250  

Other securities

     3,519           993     2,526  
       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total investment securities available-for-sale                        

   $ 891,106   $ 4,689   $ 869,221   $ 17,196  
       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
       

Mortgage banking derivatives        

   $ 525         $ 525        


 

 
    
   Fair Value Measurements at December 31, 2012 Using:  
 
   Carrying
Value
   Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
   Significant
Other Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
  
   

Financial Assets

                          

Investment securities available-for-sale

                          

U. S. government agency        

   $ 1,638         $ 1,638        

States and municipal

     337,939           322,469     15,470  

Mortgage-backed securities — Residential — Government Sponsored Entity

     227,055           227,055        

Collateralized mortgage obligations — Government Sponsored Entity

     327,223           327,223        

Equity securities

     4,939     4,689           250  

Other securities

     3,547           990     2,557  
       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total investment securities available- for-sale                        

   $ 902,341   $ 4,689   $ 879,375   $ 18,277  
       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
       

Mortgage banking derivatives

   $ 2,200         $ 2,200        
Schedule of 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)

 

States and municipal
   2013
   2012
  
   

Beginning balance, January 1

   $ 15,470   $ 23,556  

Total gains or losses (realized / unrealized)

              

Included in earnings

              

Gains (losses) on securities

     —     361  

Included in other comprehensive income

     (99 )   (51 )

Sales

     —     (7,268 )

Settlements

     (951 )   (832 )

Transfers into Level 2

     —     (296 )
       
​ ​ ​ ​ ​ ​ ​ ​

Ending balance, December 31

   $ 14,420   $ 15,470  
       
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
       


 

Equity securities
   2013
   2012
  
   

Beginning balance, January 1

   $ 250   $ 750  

Total gains or losses (realized / unrealized)

              

Included in earnings

              

Other than temporary impairment

     —     (500 )
       
​ ​ ​ ​ ​ ​ ​ ​

Ending balance, December 31

   $ 250   $ 250  
       
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
       


 

Other securities
   2013
   2012
  
   

Beginning balance, January 1

   $ 2,557   $ 2,587  

Total gains or losses (realized / unrealized)

              

Included in other comprehensive income

     (31 )   (30 )
       
​ ​ ​ ​ ​ ​ ​ ​

Ending balance, December 31

   $ 2,526   $ 2,557  
       
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
       
Schedule of assets and liabilities measured at fair value on a non-recurring basis

 

 
    
   Fair Value Measurements at December 31, 2013 Using:  
 
   December 31, 2013
   Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
   Significant
Other Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs (Level 3)
  
   

Assets:

                          

Impaired loans

                          

Commercial and industrial                        

   $ 76               $ 76  

Farm real estate

     375                 375  

1-4 Family

     226                 226  

Other

     5,112                 5,112  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total impaired loans                        

   $ 5,789               $ 5,789  

Impaired servicing rights

   $ 1,794               $ 1,794  

Other real estate owned/assets held for sale

                          

Construction and development                        

   $ 522               $ 522  

Home equity

     67                 67  

Other commercial real estate

     425                 425  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 1,014               $ 1,014  


 

 
    
   Fair Value Measurements at December 31, 2012 Using  
 
   December 31, 2012
   Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
   Significant
Other Observable
Inputs
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
  
   

Assets:

                          

Impaired loans

                          

Commercial and industrial                        

   $ 155               $ 155  

Farm real estate

     480                 480  

Construction and development

     404                 404  

Other

     4,936                 4,936  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total impaired loans                        

   $ 5,975               $ 5,975  

Impaired servicing rights

   $ 2,942               $ 2,942  

Other real estate owned/assets held for sale

                          

Construction and development                        

   $ 1,764               $ 1,764  

Other commercial real estate                        

     803                 803  

1-4 Family

     95                 95  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 2,662               $ 2,662  
Schedule of breakdown of impaired loans by portfolio class

 

 
   Recorded
Investment
   Valuation
Allowance
   Net
  
   

Commercial and industrial

   $ 89   $ 13   $ 76  

Farm real estate

     435     60     375  

1-4 Family

     237     11     226  

Other

     6,118     1,006     5,112  
       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ending Balance

   $ 6,879   $ 1,090   $ 5,789  
       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
       
Schedule of properties by portfolio class, net

 

 
   Gross
Balance
   Valuation
Allowance
   Net
  
   

Construction and development

   $ 645   $ 123   $ 522  

Other commercial real estate

     635     210     425  

Home Equity

     82     15     67  
       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ending Balance

   $ 1,362   $ 348   $ 1,014  
       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
       
Schedule of quantitative information about level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis

 

December 31, 2013
   Fair Value
(in thousands)
   Valuation
Technique(s)
   Unobservable
Input(s)
   Range/Average
 
Impaired Loans:                

Commercial & industrial

   $     76   Sales comparison approach   Adjustment for differences between comparable sales   0%-10%
10% Avg

Farm real estate

        375   Sales comparison approach   Adjustment for differences between comparable sales   40%
40% Avg

Other/1-4 Family

     5,338
$5,789		   Sales comparison approach   Adjustment for differences between comparable sales, type of property, current status of property   0%-40%
25% Avg
Other real estate owned:                

Construction and development

   $   522   Sales comparison approach   Adjustment for differences between comparable sales.   10%
10% Avg

Other and Home equity

        492
$1,014		   Sales comparison approach   Adjustment for differences between comparable sales.   10%-15%
10% Avg

Mortgage servicing rights
 
$1,794
 
Cash flow analysis
 
Discount rate
 
10%


 

December 31, 2012
   Fair Value
(in thousands)
   Valuation
Technique(s)
   Unobservable
Input(s)
   Range/Average
 
Impaired Loans:                

Commercial & industrial

   $   155   Liquidation value of inventory   Management adjustment   15%
15% Avg

Farm real estate

        480   Sales comparison approach   Adjustment for differences between comparable sales   35-40%
37% Avg

Construction and development

        404   Sales comparison approach   Adjustment for differences between comparable sales   10%-50%
41% Avg

Other

     4,936
$5,975		   Sales comparison approach   Adjustment for differences between comparable sales, type of property, current status of property   0%-60%
32% Avg
Other real estate owned:                

Construction and development

   $1,764   Sales comparison approach   Adjustment for differences between comparable sales.   10%-26%
15% Avg

Other and 1-4 family

        898
$2,662		   Sales comparison approach   Adjustment for differences between comparable sales.   2%-35%
17% Avg

Mortgage servicing rights
 
$2,942
 
Cash flow analysis
 
Discount rate
 
10%
Schedule of carrying amounts and estimated fair values of financial instruments

 

December 31, 2013
   Carrying
Amount
   Level 1
   Level 2
   Level 3
   Total
  
   

Assets

                                

Cash and cash equivalents

   $ 61,320   $ 55,826   $ 5,494         $ 61,320  

Loans including loans held for sale, net

     1,644,527           6,158     1,657,199     1,663,357  

Restricted stock

     15,629                       N/A  

Interest receivable

     9,706           4,573     5,133     9,706  

Liabilities

                                

Deposits

     (2,200,628 )   (436,550 )   (1,764,719 )         (2,201,269 )

Other borrowings

     (38,594 )         (38,594 )         (38,594 )

FHLB advances

     (247,858 )         (252,402 )         (252,402 )

Interest payable

     (799 )         (799 )         (799 )

Subordinated debentures

     (46,394 )         (23,130 )         (23,130 )

 

December 31, 2012
   Carrying
Amount
   Level 1
   Level 2
   Level 3
   Total
  
   

Assets

                                

Cash and cash equivalents

   $ 65,650   $ 58,100   $ 7,550         $ 65,650  

Loans including loans held for sale, net

     1,532,247           17,616     1,538,489     1,556,105  

Restricted stock

     15,639                       N/A  

Interest receivable

     9,827           4,621     5,206     9,827  

Liabilities

                                

Deposits

     (2,185,054 )   (405,167 )   (1,780,511 )         (2,185,678 )

Other borrowings

     (34,519 )         (34,519 )         (34,519 )

FHLB advances

     (141,052 )         (152,018 )         (152,018 )

Interest payable

     (1,195 )         (1,195 )         (1,195 )

Subordinated debentures

     (50,418 )         (31,763 )         (31,763 )