XML 41 R25.htm IDEA: XBRL DOCUMENT v2.4.0.8
3. Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2013
Fair Value Disclosures [Abstract]  
Assets And Liabilities Recorded At Fair Value On A Recurring Basis

The table below presents the recorded amount of assets (liabilities) measured at fair value on a recurring basis.

 

    Balance at     Fair Value Measurements Using:  
Dollars in thousands   September 30, 2013     Level 1     Level 2     Level 3  
Available for sale securities                        
U.S. Government sponsored agencies   $ 28,430     $ -     $ 28,430     $ -  
Mortgage backed securities:                                
Government sponsored agencies     150,787       -       150,787       -  
Nongovernment sponsored entities     13,440       -       13,440       -  
State and political subdivisions     15,011       -       15,011       -  
Corporate debt securities     3,950       -       3,950       -  
Other equity securities     77       -       77       -  
Tax-exempt state and political subdivisions     79,563       -       79,563       -  
Tax-exempt mortgage-backed securities     -       -       -       -  
Total available for sale securities   $ 291,258     $ -     $ 291,258     $ -  
                                 
Derivative financial instrument                                
Interest rate swap   $ (117 )   $ -     $ (117 )   $ -  

 

    Balance at     Fair Value Measurements Using:  
Dollars in thousands   December 31, 2012     Level 1     Level 2     Level 3  
Available for sale securities                        
U.S. Government sponsored agencies   $ 29,020     $ -     $ 29,020     $ -  
Mortgage backed securities:                                
Government sponsored agencies     136,570       -       136,570       -  
Nongovernment sponsored agencies     15,745       -       15,745       -  
State and political subdivisions     12,169       -       12,169       -  
Corporate debt securities     1,950       -       1,950       -  
Other equity securities     77       -       77       -  
Tax-exempt state and political subdivisions     83,270       -       83,270       -  
Tax-exempt mortgage backed securities     2,738       -       2,738       -  
Total available for sale securities   $ 281,539     $ -     $ 281,539     $ -  
Assets And Liabilities Recorded At Fair Value On A Nonrecurring Basis

Assets measured at fair value on a nonrecurring basis are included in the table below.

 

    Total at     Fair Value Measurements Using:  
Dollars in thousands   September 30, 2013     Level 1     Level 2     Level 3  
Residential mortgage loans held for sale   $ 602     $ -     $ 602     $ -  
                                 
Impaired loans                                
Commercial   $ 5,456     $ -     $ 3,731     $ 1,725  
Commercial real estate     17,109       -       3,998       13,111  
Construction and development     24,128       -       21,629       2,499  
Residential real estate     22,632       -       17,341       5,291  
Consumer     40       -       -       40  
Total impaired loans   $ 69,365     $ -     $ 46,699     $ 22,666  
                                 
OREO                                
Commercial   $ -     $ -     $ -     $ -  
Commercial real estate     9,961       -       9,961       -  
Construction and development     31,747       -       31,747       -  
Residential real estate     3,595       -       3,595       -  
Consumer     -       -       -       -  
Total OREO   $ 45,303     $ -     $ 45,303     $ -  

 

    Total at     Fair Value Measurements Using:  
Dollars in thousands   December 31, 2012     Level 1     Level 2     Level 3  
Residential mortgage loans held for sale   $ 226     $ -     $ 226     $ -  
                                 
Impaired loans                                
Commercial   $ 10,856     $ -     $ 5,013     $ 5,843  
Commercial real estate     25,435       -       16,331       9,104  
Construction and development     27,352       -       24,578       2,774  
Residential real estate     24,442       -       21,625       2,817  
Consumer     50       -       -       50  
Total impaired loans   $ 88,135     $ -     $ 67,547     $ 20,588  
                                 
OREO                                
Commercial   $ -     $ -     $ -     $ -  
Commercial real estate     11,835       -       11,047       788  
Construction and development     40,671       -       35,978       4,693  
Residential real estate     3,666       -       3,666       -  
Consumer     -       -       -       -  
Total OREO   $ 56,172     $ -     $ 50,691     $ 5,481  
Carrying Values And Estimated Fair Values Of Financial Instruments

The carrying values and estimated fair values of our financial instruments are summarized below:

 

    September 30, 2013     December 31, 2012  
          Estimated           Estimated  
    Carrying     Fair     Carrying     Fair  
Dollars in thousands   Value     Value     Value     Value  
Financial assets                        
Cash and cash equivalents   $ 16,103     $ 16,103     $ 14,802     $ 14,802  
Securities available for sale     291,258       291,258       281,539       281,539  
Other investments     8,004       8,004       14,658       14,658  
Loans held for sale     602       602       226       226  
Loans, net     939,169       965,070       937,168       965,454  
Accrued interest receivable     5,364       5,364       5,621       5,621  
    $ 1,260,500     $ 1,286,401     $ 1,254,014     $ 1,282,300  
Financial liabilities                                
Deposits   $ 1,016,735     $ 1,045,084     $ 1,027,125     $ 1,064,957  
Short-term borrowings     54,163       54,163       3,958       3,958  
Long-term borrowings     163,540       175,237       203,268       220,175  
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     1,473       1,473       1,877       1,877  
Derivative financial liabilities     117       117       -       -  
    $ 1,272,417     $ 1,312,463     $ 1,272,617     $ 1,327,356