Fair Value Of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Of Financial Instruments [Abstract]

Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis

The table below presents the balance of financial assets and liabilities at June 30, 2012 measured at fair value on a recurring basis:

			Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(In thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Assets
U.S. Treasury Obligations	$	250	$	0	$	250	$	0
U.S. Agency Obligations		64,799		0		64,799		0
FHLB Obligations		4,649		0		4,649		0
Agency MBSs		173,639		0		173,639		0
Agency CMOs		246,337		0		246,337		0
Non-Agency CMOs		4,729		0		4,729		0
ABSs		419		0		419		0
Interest rate swap agreements		488		0		488		0
Total assets	$	495,310	$	0	$	495,310	$	0
Liabilities
Interest rate swap agreements		1,767		0		1,767		0
Total liabilities	$	1,767	$	0	$	1,767	$	0

The table below presents the balance of financial assets and liabilities at December 31, 2011 measured at fair value on a recurring basis:

			Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(In thousands)	Total		(Level 1)		(Level 2)		(Level 3)
Assets
U.S. Treasury Obligations	$	250	$	0	$	250	$	0
U.S. Agency Obligations		90,419		0		90,419		0
FHLB Obligations		16,676		0		16,676		0
Agency MBSs		183,838		0		183,838		0
Agency CMOs		214,480		0		214,480		0
Non-Agency CMOs		4,855		0		4,855		0
ABSs		1,233		0		1,233		0
Interest rate swap agreements		207		0		207		0
Total assets	$	511,958	$	0	$	511,958	$	0
Liabilities
Interest rate swap agreements		1,613		0		1,613		0
Total liabilities	$	1,613	$	0	$	1,613	$	0

Financial Assets Measured At Fair Value On A Nonrecurring Basis

			Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(In thousands)	Total		(Level 1)		(Level 2)		(Level 3)
OREO	$	386	$	0	$	0	$	386
Impaired loans		3,130		0		0		3,130
Total	$	3,516	$	0	$	0	$	3,516

The OREO balance at June 30, 2012 of $386 thousand consists of $28 thousand in commercial loans; $297 thousand in residential real estate loans; and $61 thousand in construction loans.

The table below presents the balance of financial assets at December 31, 2011 measured at fair value on a non-recurring basis:

			Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(In thousands)	Total		(Level 1)		(Level 2)		(Level 3)
OREO	$	358	$	0	$	0	$	358
Impaired loans		2,511		0		0		2,511
Total	$	2,869	$	0	$	0	$	2,869

Assets Measured At Fair Value Using Significant Unobservable Inputs

(Dollars in thousands)	Fair value		Valuation Methodology	Unobservable Inputs	Range of Inputs
OREO	$	386	Appraisal of collateral	Appraisal adjustments	0%-35%
Impaired loans		3,130	Appraisal of collateral	Appraisal adjustments	0%-35%

Fair Values Of Financial Instruments

The fair values of our financial instruments as of June 30, 2012 are summarized in the table below:

	Carrying
(In thousands)	Amount		Fair Value			Level 1		Level 2		Level 3
Cash and cash equivalents	$	47,459	$	47,459	$	47,459	$	0	$	0
Securities available for sale		494,822		494,822		0		494,822		0
Securities held to maturity		481		537		0		537		0
FHLB stock		8,145		8,145		0		8,145		0
Loans, net of allowance for loan losses		1,014,462		1,035,189		0		0		1,035,189
Interest rate contract-cash flow hedge		488		488		0		488		0
Accrued interest receivable		4,131		4,131		4,131		0		0
Total assets	$	1,569,988	$	1,590,771	$	51,590	$	503,992	$	1,035,189
Deposits	$	1,240,146	$	1,243,014	$	892,719	$	350,295	$	0
Short-term borrowings		52,000		52,000		0		52,000		0
Securities sold under agreement to repurchase		153,700		153,700		0		153,700		0
Other long-term debt		12,522		13,050		0		13,050		0
Junior subordinated debentures issued to
unconsolidated subsidiary trust		20,619		15,376		0		15,376		0
Interest rate contract-cash flow hedge		1,767		1,767		0		1,767		0
Accrued interest payable		295		295		295		0		0
Total liabilities	$	1,481,049	$	1,479,202	$	893,014	$	586,188	$	0

The fair values of our financial instruments as of December 31, 2011 are summarized in the table below:

	Carrying
(In thousands)	Amount		Fair Value			Level 1		Level 2		Level 3
Cash and cash equivalents	$	37,812	$	37,812	$	37,812	$	0	$	0
Securities available for sale		511,751		511,751		0		511,751		0
Securities held to maturity		558		624		0		624		0
FHLB stock		8,630		8,630		0		8,630		0
Loans, net of allowance for loan losses		1,017,007		1,035,131		0		0		1,035,131
Interest rate contract-cash flow hedge		207		207		0		207		0
Accrued interest receivable		5,121		5,121		5,121		0		0
Total assets	$	1,581,086	$	1,599,276	$	42,933	$	521,212	$	1,035,131
Deposits	$	1,177,880	$	1,181,066	$	829,632	$	351,434	$	0
Short-term borrowings		0		0		0		0		0
Securities sold under agreement to repurchase		262,527		263,062		0		263,062		0
Other long-term debt		22,562		23,594		0		23,594		0
Junior subordinated debentures issued to
unconsolidated subsidiary trust		20,619		15,268		0		15,268		0
Interest rate contract-cash flow hedge		1,613		1,613		0		1,613		0
Accrued interest payable		282		282		282		0		0
Total liabilities	$	1,485,483	$	1,484,885	$	829,914	$	654,971	$	0