Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Assets And Liabilities Recorded At Fair Value On A Recurring Basis


		Balance at		Fair Value Measurements Using:
Dollars in thousands		June 30, 2012		Level 1		Level 2		Level 3
Available for sale securities
U.S. Government sponsored agencies	$	18,663	$	-	$	18,663	$	-
Mortgage backed securities:
Government sponsored agencies		161,167		-		161,167		-
Nongovernment sponsored entities		23,261		-		23,261		-
State and political subdivisions		8,656		-		8,656		-
Corporate debt securities		1,840		-		1,840		-
Other equity securities		77		-		77		-
Tax-exempt state and political subdivisions		72,518		-		72,518		-
Tax-exempt mortgage-backed securities		2,969		-		2,969		-
Total available for sale securities	$	289,151	$	-	$	289,151	$	-


		Balance at		Fair Value Measurements Using:
Dollars in thousands		December 31, 2011		Level 1		Level 2		Level 3
Available for sale securities
U.S. Government sponsored agencies	$	8,747	$	-	$	8,747	$	-
Mortgage backed securities:
Government sponsored agencies		155,505		-		155,505		-
Nongovernment sponsored entities		34,428		-		34,428		-
State and political subdivisions		4,571		-		4,571		-
Corporate debt securities		817		-		817		-
Other equity securities		77		-		77		-
Tax-exempt state and political subdivisions		79,326		-		79,326		-
Tax-exempt mortgage backed securities		3,128		-		3,128		-
Total available for sale securities	$	286,599	$	-	$	286,599	$	-

Assets And Liabilities Recorded At Fair Value On A Nonrecurring Basis


		Total at		Fair Value Measurements Using:
Dollars in thousands		June 30, 2012		Level 1		Level 2		Level 3
Residential mortgage loans held for sale	$	622	$	-	$	622	$	-

Impaired loans
Commercial	$	6,641	$	-	$	-	$	6,641
Commercial real estate		25,636		-		13,900		11,736
Construction and development		30,786		-		28,809		1,977
Residential real estate		28,378		-		23,867		4,511
Consumer		41		-		-		41
Total impaired loans	$	91,482	$	-	$	66,576	$	24,906

OREO
Commercial	$	-	$	-	$	-	$	-
Commercial real estate		12,029		-		12,029		-
Construction and development		44,646		-		43,971		675
Residential real estate		3,393		-		3,393		-
Consumer		-		-		-		-
Total OREO	$	60,068	$	-	$	59,393	$	675


		Total at		Fair Value Measurements Using:
Dollars in thousands		December 31, 2011		Level 1		Level 2		Level 3
Residential mortgage loans held for sale	$	-	$	-	$	-	$	-

Impaired loans
Commercial	$	2,722	$	-	$	-	$	2,722
Commercial real estate		21,148		-		13,777		7,371
Construction and development		27,667		-		25,297		2,370
Residential real estate		22,768		-		18,253		4,515
Consumer		6		-		-		6
Total impaired loans	$	74,311	$	-	$	57,327	$	16,984

OREO
Commercial	$	-	$	-	$	-	$	-
Commercial real estate		15,721		-		15,721		-
Construction and development		44,978		-		44,303		675
Residential real estate		3,239		-		3,239		-
Consumer		-		-				-
Total OREO	$	63,938	$	-	$	63,263	$	675

Carrying Values And Estimated Fair Values Of Financial Instruments


		June 30, 2012				December 31, 2011
				Estimated				Estimated
		Carrying		Fair		Carrying		Fair
Dollars in thousands		Value		Value		Value		Value
Financial assets
Cash and due from banks	$	4,266	$	4,266	$	4,398	$	4,398
Interest bearing deposits with
other banks		14,288		14,288		28,294		28,294
Securities available for sale		289,151		289,151		286,599		286,599
Other investments		17,506		17,506		19,146		19,146
Loans held for sale, net		622		622		-		-
Loans, net		948,294		970,774		965,516		977,782
Accrued interest receivable		5,515		5,515		5,784		5,784
	$	1,279,642	$	1,302,122	$	1,309,737	$	1,322,003
Financial liabilities
Deposits	$	1,001,670	$	1,041,268	$	1,016,500	$	1,054,093
Short-term borrowings		10,957		10,957		15,956		15,956
Long-term borrowings		253,635		272,685		270,254		291,099
Subordinated debentures		16,800		16,800		16,800		16,800
Subordinated debentures owed to
unconsolidated subsidiary trusts		19,589		19,589		19,589		19,589
Accrued interest payable		2,299		2,299		2,558		2,558
	$	1,304,950	$	1,363,598	$	1,341,657	$	1,400,095

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 14

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph c(2), d, e, f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15

-Subparagraph b-d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

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-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 19

-Subparagraph a, b, c(1), d(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph a, c(1), c(2), c(3), d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

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