Estimated Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Summary of Financial Instruments

The estimated fair values of the Corporation’s financial instruments at December 31, 2013 and 2012 are summarized as follows:

	December 31, 2013										December 31, 2012
	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3		Carrying Value		Estimated Fair Value
	(Dollars in thousands)
Financial assets
Cash and due from banks, Federal funds sold and interest bearing deposits in other banks	$	52,272	$	52,272	$	52,272	$	—	$	—	$	30,659	$	30,659
Securities	216,122		216,122		—		211,438		4,684		203,763		203,763
Restricted stock	5,741		5,741		—		5,741		—		5,741		5.741
Portfolio loans, net	884,794		884,211		—		—		884,211		864,911		868,716
Loans held for sale	4,483		4,487		—		4,487		—		7,634		7,891
Accrued interest receivable	3,621		3,621		—		—		3,621		3,726		3,726
Financial liabilities
Deposits:
Demand, savings and money market	542,739		542,739		—		542,739		—		517,181		511,665
Certificates of deposit	502,850		504,381		—		504,381		—		482,411		485,394
Short-term borrowings	4,576		4,576		—		4,576		—		1,115		1,115
Federal Home Loan Bank advances	46,708		46,923		—		46,923		—		46,508		46,828
Junior subordinated debentures	16,238		16,778		—		16,778		—		16,238		17,197
Accrued interest payable	789		789		—		—		789		882		882

Assets Measured by Fair Value on a Recurring Basis

The following table presents information about the Corporation’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and 2012, and the valuation techniques used by the Corporation to determine those fair values.

Description	Fair Value as of December 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Securities available for sale:
U.S. Government agencies and corporations	$	65,388	$	—	$	65,388	$	—
Mortgage backed securities	94,430		—		94,430		—
Collateralized mortgage obligations	18,655		—		18,655		—
Preferred securities	4,684						4,684
State and political subdivisions	32,965		—		32,965		—
Interest rate swaps	222		—		222		—
Total	$	216,344	$	—	$	211,660	$	4,684
Description	Fair Value as of December 31, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Securities available for sale:
U.S. Government agencies and corporations	$	36,970	$	—	$	36,970	$	—
Mortgage backed securities	111,701		—		111,701		—
Collateralized mortgage obligations	22,881		—		22,881		—
State and political subdivisions	32,211		—		32,211		—
Total	$	203,763	$	—	$	203,763	$	—

Balances of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

The following table presents the balances of assets and liabilities measured at fair value on a nonrecurring basis:

December 31, 2013	Quoted Market Prices in Active Markets (Level 1)		Internal Models with Significant Observable Market Parameters (Level 2)		Internal Models with Significant Unobservable Market Parameters (Level 3)		Total
	(Dollars in thousands)
Impaired and nonaccrual loans	$	—	$	—	$	21,986	$	21,986
Other real estate	—		—		579		579
Total assets at fair value on a nonrecurring basis	$	—	$	—	$	23,577	$	23,577
December 31, 2012	Quoted Market Prices in Active Markets (Level 1)		Internal Models with Significant Observable Market Parameters (Level 2)		Internal Models with Significant Unobservable Market Parameters (Level 3)		Total
	(Dollars in thousands)
Impaired and nonaccrual loans	$	—	$	—	$	27,796	$	27,796
Other real estate	—		—		1,366		1,366
Total assets at fair value on a nonrecurring basis	$	—	$	—	$	29,162	$	29,162