Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Summary of Assets Measured at Estimated Fair Value on Recurring Basis

The Company had no fair value liabilities measured on a recurring basis at September 30, 2014 and December 31, 2013. A summary of assets at September 30, 2014 and December 31, 2013, measured at estimated fair value on a recurring basis was as follows:

(Dollars in Thousands)	Level 1		Level 2		Level 3		Total Fair Value Measurements
September 30, 2014
Securities available for sale:
U.S. Government Agencies	$	0	$	24,176	$	0	$	24,176
States and political subdivisions	0		52,014		0		52,014
U.S. Government Sponsored enterprises (GSE) residential mortgage-backed securities	0		179,786		0		179,786
GSE residential collateralized mortgage obligations (CMOs)	0		81,984		0		81,984
GSE commercial CMOs	0		64,540		0		64,540
Total debt securities	0		402,500		0		402,500
Equity securities - financial services	0		63		0		63
Total securities	$	0	$	402,563	$	0	$	402,563
	Level 1		Level 2		Level 3		Total Fair Value Measurements
December 31, 2013
Securities available for sale:
U.S. Government Agencies	$	0	$	25,451	$	0	$	25,451
U.S. Government Sponsored Enterprises (GSE)	0		13,714		0		13,714
States and political subdivisions	0		71,544		0		71,544
GSE residential mortgage-backed securities	0		198,619		0		198,619
GSE residential collateralized mortgage obligations (CMOs)	0		40,532		0		40,532
GSE commercial CMOs	0		57,014		0		57,014
Total debt securities	0		406,874		0		406,874
Equity securities - financial services	0		69		0		69
Total securities	$	0	$	406,943	$	0	$	406,943

Summary of Assets Measured at Fair Value on Nonrecurring Basis

A summary of assets at September 30, 2014 and December 31, 2013, measured at estimated fair value on a nonrecurring basis was as follows:

(Dollars in thousands)	Level 1		Level 2		Level 3		Total Fair Value Measurements
September 30, 2014
Commercial real estate:
Owner-occupied	$	0	$	0	$	1,389	$	1,389
Non-owner occupied	0		0		350		350
Multi-family	0		0		96		96
Non-owner occupied residential	0		0		1,087		1,087
Acquisition and development:
Commercial and land development	0		0		141		141
Commercial and industrial	0		0		29		29
Residential mortgage:
First lien	0		0		1,689		1,689
Installment and other loans	0		0		14		14
Impaired loans, net	$	0	$	0	$	4,795	$	4,795
Foreclosed real estate	$	0	$	0	$	718	$	718
December 31, 2013
Commercial real estate:
Owner-occupied	$	0	$	0	$	1,031	$	1,031
Non-owner occupied	0		0		694		694
Multi-family	0		0		322		322
Non-owner occupied residential	0		0		1,662		1,662
Acquisition and development:
Commercial and land development	0		0		51		51
Commercial and industrial	0		0		592		592
Residential mortgage:
First lien	0		0		599		599
Impaired loans, net	$	0	$	0	$	4,951	$	4,951
Foreclosed real estate	$	0	$	0	$	558	$	558

Summary of Additional Qualitative Information

The following table presents additional qualitative information about assets measured on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value:

(Dollars in thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range
September 30, 2014
Impaired loans	$	4,795	Appraisal of collateral	Management adjustments on appraisals for property type and recent activity	0%-30% discount
				Management adjustments for liquidation expenses	5%-10% discount
Foreclosed real estate	718		Appraisal of collateral	Management adjustments on appraisals for property type and recent activity	0%-30% discount
				Management adjustments for liquidation expenses	5%-25% discount
December 31, 2013
Impaired loans	$	4,951	Appraisal of collateral	Management adjustments on appraisals for property type and recent activity	0%-30% discount
				Management adjustments for liquidation expenses	5%-10% discount
Foreclosed real estate	558		Appraisal of collateral	Management adjustments on appraisals for property type and recent activity	0%-30% discount
				Management adjustments for liquidation expenses	5%-10% discount

Financial Statements at Estimated Fair Values

The estimated fair values of the Company’s financial statements were as follows at September 30, 2014 and December 31, 2013:

(Dollars in thousands)	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
September 30, 2014
Financial Assets
Cash and due from banks	$	15,524	$	15,524	$	15,524	$	0	$	0
Interest bearing deposits with banks	20,213		20,213		20,213		0		0
Restricted investments in bank stock	9,334		n/a		n/a		n/a		n/a
Securities available for sale	402,563		402,563		0		402,563		0
Loans held for sale	4,164		4,164		0		4,164		0
Loans, net of allowance for loan losses	664,355		670,934		0		0		670,934
Accrued interest receivable	3,151		3,151		0		1,554		1,597
Mortgage servicing rights	2,730		2,892		0		0		2,892
Financial Liabilities
Deposits	989,234		990,207		0		990,207		0
Short-term borrowings	56,279		56,127		0		56,127		0
Long-term debt	14,986		15,734		0		15,734		0
Accrued interest payable	271		271		0		271		0
Off-balance sheet instruments	0		0		0		0		0
December 31, 2013
Financial Assets
Cash and due from banks	$	12,995	$	12,995	$	12,995	$	0	$	0
Interest bearing deposits with banks	24,565		24,565		24,565		0		0
Restricted investments in bank stock	9,921		n/a		n/a		n/a		n/a
Securities available for sale	406,943		406,943		0		406,943		0
Loans held for sale	1,936		1,936		0		1,936		0
Loans, net of allowance for loan losses	650,072		655,122		0		0		655,122
Accrued interest receivable	3,400		3,400		0		1,902		1,498
Mortgage servicing rights	2,806		3,090		0		0		3,090
Financial Liabilities
Deposits	1,000,390		1,002,235		0		1,002,235		0
Short-term borrowings	59,032		59,032		0		59,032		0
Long-term debt	16,077		16,645		0		16,645		0
Accrued interest payable	333		333		0		333		0
Off-balance sheet instruments	0		0		0		0		0