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Fair Value (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value Disclosures [Abstract]  
Fair Value Measurements for Items Measured at Fair Value

In addition, it includes guidance on identifying circumstances that indicate a transaction is not orderly. Under ASC 820, fair value measurements for items measured at fair value on a recurring and nonrecurring basis at December 31, 2013 and 2012 included:

 

(Dollars in thousands)    Fair Value
Measurements
December 31, 2013
     Quoted Prices in
Active Markets for
Identical Assets
Level 1
     Significant  Other
Observable
Inputs

Level 2
     Significant  Other
Unobservable
Inputs

Level 3
 

Available for sale securities (3)

   $ 641,611       $ 100       $ 641,511       $ 0   

Loans available for sale (4)

     13,832         0         13,832         0   

Loans (1)

     17,323         0         10,325         6,998   

OREO (2)

     6,860         0         1,301         5,559   

 

(Dollars in thousands)    Fair Value
Measurements
December 31, 2012
     Quoted Prices in
Active Markets for
Identical Assets
Level 1
     Significant  Other
Observable
Inputs

Level 2
     Significant  Other
Unobservable
Inputs

Level 3
 

Available for sale securities (3)

   $ 643,050       $ 1,707       $ 641,343       $ 0   

Loans available for sale (4)

     36,021         0         36,021         0   

Loans (1)

     24,510         0         12,778         11,732   

OREO (2)

     11,887         0         3,457         8,430   

 

(1) See Note E. Nonrecurring fair value adjustments to loans identified as impaired reflect full or partial write-downs that are based on the loan’s observable market price or current appraised value of the collateral in accordance with ASC 310.
(2) Fair value is measure on a nonrecurring basis in accordance with ASC 360.
(3) See Note D for further detail of recurring fair value basis of individual investment categories.
(4) Recurring fair value basis determined using observable market data.
Summary of Carrying Value and Fair Value of Company's Financial Instruments

The carrying amount and fair value of the Company’s other significant financial instruments that are not measured at fair value on a recurring basis in the balance sheet as of December 31 is as follows:

     Carrying Amount
December 31, 2013
     Quoted Prices in
Active Markets for
Identical Assets

Level 1
     Significant  Other
observable
Inputs

Level 2
     Significant Other
Unobservable Inputs

Level 3
 
(In Thousands)                            

Financial Assets

           

Securities held to maturity

   $ 0       $ 0       $ 0       $ 0   

Loans, net

     1,266,816         0         0         1,272,893   

Financial Liabilities

           

Deposits

     1,806,045         0         0         1,807,183   

Borrowings

     50,000         0         53,856         0   

Subordinated debt

     53,610         0         42,888         0   
     Carrying Amount
December 31, 2012
     Quoted Prices in
Active Markets for
Identical Assets
Level 1
     Significant Other
Observable
Inputs

Level 2
     Significant Other
Unobservable Inputs
Level 3
 
(In Thousands)                            

Financial Assets

           

Securities held to maturity

   $ 13,818       $ 0       $ 14,542       $ 0   

Loans, net

     1,179,467         0         0         1,201,178   

Financial Liabilities

           

Deposits

     1,758,961         0         0         1,761,119   

Borrowings

     50,000         0         55,604         0   

Subordinated debt

     53,610         0         37,527         0