Fair Value (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Quantitative information about assets measured utilizing Level 3 fair value measurement

The following tables list the quantitative fair value information about impaired loans as of:

	June 30, 2016
Valuation Technique	Fair Value	Unobservable Input	Range
		Discount applied to collateral appraisal:
		Real Estate	20% - 30%
		Equipment	35% - 50%
Discounted appraisal value	$7,687	Furniture, fixtures & equipment	45%
		Cash crop inventory	40%
		Other inventory	50%
		Accounts receivable	50%
		Liquor license	75%

	December 31, 2015
Valuation Technique	Fair Value	Unobservable Input	Range
		Discount applied to collateral appraisal:
		Real Estate	20% - 30%
		Equipment	20% - 35%
Discounted appraisal value	$9,301	Furniture, fixtures & equipment	35% - 45%
		Cash crop inventory	40%
		Other inventory	50%
		Accounts receivable	50%
		Liquor license	75%

The table below lists the quantitative fair value information related to foreclosed assets as of:

	June 30, 2016
Valuation Technique	Fair Value		Unobservable Input	Range
			Discount applied to collateral appraisal:
Discounted appraisal value	$	249	Real Estate	20% - 30%

	December 31, 2015
Valuation Technique	Fair Value		Unobservable Input	Range
			Discount applied to collateral appraisal:
Discounted appraisal value	$	421	Real Estate	20% - 30%

Carrying amount and estimated fair value of financial instruments not recorded at fair value

The carrying amount and estimated fair value of financial instruments not recorded at fair value in their entirety on a recurring basis were as follows as of:

	June 30, 2016
	Carrying Value		Estimated Fair Value		(Level 1)		(Level 2)		(Level 3)
ASSETS
Cash and cash equivalents	$	27,034	$	27,034	$	27,034	$	—	$	—
Mortgage loans AFS	1,281		1,302		—		1,302		—
Gross loans	919,594		909,607		—		—		909,607
Less allowance for loan and lease losses	7,600		7,600		—		—		7,600
Net loans	911,994		902,007		—		—		902,007
Accrued interest receivable	5,791		5,791		5,791		—		—
Equity securities without readily determinable fair values (1)	22,427		N/A		—		—		—
OMSR	2,176		2,176		—		2,176		—
LIABILITIES
Deposits without stated maturities	720,928		720,928		720,928		—		—
Deposits with stated maturities	435,942		435,730		—		435,730		—
Borrowed funds	318,596		322,475		—		322,475		—
Accrued interest payable	551		551		551		—		—

	December 31, 2015
	Carrying Value		Estimated Fair Value		(Level 1)		(Level 2)		(Level 3)
ASSETS
Cash and cash equivalents	$	21,569	$	21,569	$	21,569	$	—	$	—
Mortgage loans AFS	1,187		1,210		—		1,210		—
Gross loans	850,492		839,398		—		—		839,398
Less allowance for loan and lease losses	7,400		7,400		—		—		7,400
Net loans	843,092		831,998		—		—		831,998
Accrued interest receivable	6,269		6,269		6,269		—		—
Equity securities without readily determinable fair values (1)	22,286		N/A		—		—		—
OMSR	2,505		2,518		—		2,518		—
LIABILITIES
Deposits without stated maturities	741,683		741,683		741,683		—		—
Deposits with stated maturities	422,880		421,429		—		421,429		—
Borrowed funds	309,732		312,495		—		312,495		—
Accrued interest payable	545		545		545		—		—

⁽¹⁾  Due to the characteristics of equity securities without readily determinable fair values, they are not disclosed under a specific fair value hierarchy. If we were to record an impairment adjustment related to these securities, such amount would be classified as a nonrecurring Level 3 fair value adjustment.

Assets and liabilities measured at fair value

The table below presents the recorded amount of assets and liabilities measured at fair value on:

	June 30, 2016												December 31, 2015
	Total			(Level 1)			(Level 2)			(Level 3)			Total		(Level 1)			(Level 2)			(Level 3)
Recurring items
AFS securities
Government-sponsored enterprises	$	10,371		$	—		$	10,371		$	—		$	24,345	$	—		$	24,345		$	—
States and political subdivisions	226,047			—			226,047			—			232,217		—			232,217			—
Auction rate money market preferred	3,119			—			3,119			—			2,866		—			2,866			—
Preferred stocks	3,406			3,406			—			—			3,299		3,299			—			—
Mortgage-backed securities	240,195			—			240,195			—			263,384		—			263,384			—
Collateralized mortgage obligations	119,325			—			119,325			—			134,025		—			134,025			—
Total AFS securities	602,463			3,406			599,057			—			660,136		3,299			656,837			—
Derivative instruments	(152		)	—			(152		)	—			—		—			—			—
Nonrecurring items
Impaired loans (net of the ALLL)	7,687			—			—			7,687			9,301		—			—			9,301
Foreclosed assets	249			—			—			249			421		—			—			421
Total	$	610,247		$	3,406		$	598,905		$	7,936		$	669,858	$	3,299		$	656,837		$	9,722
Percent of assets and liabilities measured at fair value				0.56		%	98.14		%	1.30		%			0.49		%	98.06		%	1.45		%