Fair Value Measurement and Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2012

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below.

September 30, 2012
(In thousands)
	Carrying Value in Balance Sheet		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
U.S. Treasury securities	$	509	$	0	$	509	$	0
Obligations of U.S. Government sponsored enterprises		173,853		0		173,853		0
Obligations of states and political subdivisions		882		0		882		0
Mortgage-backed securities		322,362		0		322,362		0
Available-for-sale securities	$	497,606	$	0	$	497,606	$	0

December 31, 2011
(In thousands)
	Carrying Value in Balance Sheet		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
U.S. Treasury securities	$	513	$	0	$	513	$	0
Obligations of U.S. Government sponsored enterprises		181,620		0		181,620		0
Obligations of states and political subdivisions		1,329		0		1,329		0
Mortgage-backed securities		333,751		0		333,751		0
Available-for-sale securities	$	517,213	$	0	$	517,213	$	0

Estimated Fair Value of on Balance Sheet Financial Instruments

The estimated fair value of the Company's remaining on-balance sheet financial instruments as of September 30, 2012 and December 31, 2011 is summarized below.

	September 30, 2012
(In thousands)
	Carrying Value		Estimated Fair Value		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and due from banks	$	37,349	$	37,349	$	37,349	$	0	$	0
Interest-bearing deposits		123,408		123,408		123,408		0		0
Securities available for sale		497,606		497,606		0		497,606		0
Loans and leases, net		1,127,006		1,108,278		0		0		1,108,278
Accrued interest receivable		5,703		5,703		0		0		5,703
Financial liabilities:
Deposits	$	1,780,495	$	1,783,403	$	0	$	0	$	1,783,403
Short-term borrowings		20,000		20,433		0		0		20,433
FHLB advances and long-term debt		45,326		29,005		0		0		29,005
Accrued interest payable		2,857		2,857		0		0		2,857

(In thousands)	December 31, 2011
	Carrying Value		Estimated Fair Value
Financial assets:
Cash, due from banks and federal funds sold	$	37,911	$	37,911
Interest-bearing deposits		61,942		61,942
Securities available for sale		517,213		517,213
Loans and leases, net		1,234,893		1,213,983
Accrued interest receivable		6,227		6,227
Financial liabilities:
Deposits	$	1,811,673	$	1,815,613
Short-term borrowings		20,000		20,676
FHLB advances and long-term debt		70,539		54,096
Accrued interest payable		2,916		2,916

Fair Value, Measurements, Nonrecurring

Assets and Liabilities Measured at Fair Value on Nonrecurring Basis

Assets and liabilities measured at fair value on a nonrecurring basis are summarized below.

September 30, 2012
(In thousands)
	Carrying Value in Balance Sheet		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans	$	60,916	$	0	$	0	$	60,916
Other real estate owned	$	53,750	$	0	$	0	$	53,750

December 31, 2011
(In thousands)
	Carrying Value in Balance Sheet		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired loans	$	23,234	$	0	$	0	$	23,234
Other real estate owned	$	57,387	$	0	$	0	$	57,387