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Note 6 - Fair Value (Tables)

9 Months Ended

Sep. 30, 2013

Note 6 - Fair Value (Tables) [Line Items]

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

(In thousands of dollars)		Quoted Prices in Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
September 30, 2013
Securities available for sale
U.S. governmental agency		$	0			$	107,686			$	650			$	108,336
States and political subdivisions			0				128,684				17,673				146,357
Mortgage backed securities			0				63,103				0				63,103
Collateralized mortgage obligations			0				37,785				0				37,785
Equity and other securities			263				0				1,577				1,840
Total securities available for sale		$	263			$	337,258			$	19,900			$	357,421

Trading equity securities		$	8			$	0			$	0			$	8

December 31, 2012
Securities available for sale
U.S. governmental agency		$	0			$	106,885			$	0			$	106,885
States and political subdivisions			0				97,525				20,289				117,814
Mortgage backed securities			0				66,277				0				66,277
Collateralized mortgage obligations			0				61,030				0				61,030
Equity and other securities			91				0				1,581				1,672
Total securities available for sale		$	91			$	331,717			$	21,870			$	353,678

Trading equity securities		$	6			$	0			$	0			$	6

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

(In thousands of dollars)		2013				2012
Balance at beginning of year		$	21,870			$	16,914
Total realized and unrealized gains/(losses) included in income			0				0
Total unrealized gains/(losses) included in other comprehensive income			0				0
Purchases of securities			5,885				11,682
Sales of securities			0				0
Calls and maturities			(7,925	)			(12,255	)
Net transfers into Level 3			70				360
Balance at September 30 of each year		$	19,900			$	16,701

Fair Value Measurements, Nonrecurring [Table Text Block]

(In thousands of dollars)		Total				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
September 30, 2013
Impaired loans		$	31,374			$	0			$	0			$	31,374
Other real estate owned		$	2,161			$	0			$	0			$	2,161
Other repossessed assets		$	50			$	0			$	0			$	50

December 31, 2012
Impaired loans		$	36,388			$	0			$	0			$	36,388
Other real estate owned		$	2,925			$	0			$	0			$	2,925
Other repossessed assets		$	250			$	0			$	0			$	250

Estimate of Fair Value Measurement [Member]

Note 6 - Fair Value (Tables) [Line Items]

Fair Value, by Balance Sheet Grouping [Table Text Block]

September 30, 2013 (In thousands of dollars)		Carrying Amount				Estimated Fair Value				Quoted Prices in Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents		$	59,963			$	59,963			$	59,963			$	0			$	0
FDIC insured bank certificates of deposit			1,440				1,440				1,440				0				0
Trading account securities			8				8				8				0				0
Securities available for sale			357,421				357,421				263				337,258				19,900
Federal Home Loan Bank stock			7,266				7,266				0				0				7,266
Loans held for sale			732				732				0				732				0
Loans, net			962,678				969,656				0				0				969,656

Financial Liabilities:
Deposits			(1,230,116	)			(1,209,657	)			0				0				(1,209,657	)
Securities sold under agreements to repurchase and overnight borrowings			(47,333	)			(47,333	)			0				(47,333	)			0
Federal Home Loan Bank advances and other borrowing			(19,861	)			(20,868	)			0				0				(20,868	)
Subordinated debentures			(36,084	)			(21,084	)			0				0				(21,084	)

December 31, 2012 (In thousands of dollars)		Carrying Amount				Estimated Fair Value				Quoted Prices in Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents		$	99,601			$	99,601			$	99,601			$	0			$	0
FDIC insured bank certificates of deposit			2,927				2,927				2,927				0				0
Trading account securities			6				6				6				0				0
Securities available for sale			353,678				353,678				91				331,717				21,870
Federal Home Loan Bank stock			7,266				7,266				0				0				7,266
Loans held for sale			2,921				2,921				0				2,921				0
Loans, net			942,422				930,354				0				0				930,354

Financial Liabilities:
Deposits			(1,241,401	)			(1,243,712	)			0				0				(1,243,712	)
Securities sold under agreements to repurchase and overnight borrowings			(42,785	)			(42,785	)			0				(42,785	)			0
Federal Home Loan Bank advances and other borrowing			(22,493	)			(24,122	)			0				0				(24,122	)
Subordinated debentures			(36,084	)			(36,093	)			0				0				(36,093	)

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details