Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Assets And Liabilities Recorded At Fair Value On A Recurring Basis


		Balance at		Fair Value Measurements Using:
Dollars in thousands		September 30, 2012		Level 1		Level 2		Level 3
Available for sale securities
U.S. Government sponsored agencies	$	26,862	$	-	$	26,862	$	-
Mortgage backed securities:
Government sponsored agencies		153,521		-		153,521		-
Nongovernment sponsored entities		21,621		-		21,621		-
State and political subdivisions		10,177		-		10,177		-
Corporate debt securities		1,910		-		1,910		-
Other equity securities		77		-		77		-
Tax-exempt state and political subdivisions		74,966		-		74,966		-
Tax-exempt mortgage-backed securities		2,858		-		2,858		-
Total available for sale securities	$	291,992	$	-	$	291,992	$	-


		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		September 30, 2012		Level 1		Level 2		Level 3
Residential mortgage loans held for sale	$	213	$	-	$	213	$	-

Impaired loans
Commercial	$	12,326	$	-	$	-	$	12,326
Commercial real estate		27,287		-		18,147		9,140
Construction and development		28,375		-		26,526		1,849
Residential real estate		25,992		-		23,031		2,961
Consumer		38		-		-		38
Total impaired loans	$	94,018	$	-	$	67,704	$	26,314

OREO
Commercial	$	-	$	-	$	-	$	-
Commercial real estate		11,802		-		11,802		-
Construction and development		41,452		-		40,777		675
Residential real estate		2,779		-		2,779		-
Consumer		-		-		-		-
Total OREO	$	56,033	$	-	$	55,358	$	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


		September 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	$	3,752	$	3,752	$	4,398	$	4,398
Interest bearing deposits with
other banks		13,441		13,441		28,294		28,294
Securities available for sale		291,992		291,992		286,599		286,599
Other investments		16,100		16,100		19,146		19,146
Loans held for sale, net		213		213		-		-
Loans, net		940,933		975,347		965,516		977,782
Accrued interest receivable		5,352		5,352		5,784		5,784
	$	1,271,783	$	1,306,197	$	1,309,737	$	1,322,003
Financial liabilities
Deposits	$	1,027,307	$	1,065,036	$	1,016,500	$	1,054,093
Short-term borrowings		20,957		20,957		15,956		15,956
Long-term borrowings		203,744		222,022		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		1,963		1,963		2,558		2,558
	$	1,290,360	$	1,346,367	$	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

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-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

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-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

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-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

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

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-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

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

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-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

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