Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value of Financial Instruments

Summary of the carrying amounts and fair values of financial instruments

					June 30, 2013
					Fair Value Measurements
					Quoted Prices
					in Active				Net
					Markets for		Other		Significant
	June 30, 2013				Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
(in thousands)	amount		value		(Level 1)		(Level 2)		(Level 3)
Financial Assets:
Cash and due from banks	$	20,838	$	20,838	$	20,838	$	0	$	0
Federal fund sold and overnight interest-bearing deposits	14,867		14,867		14,867		0		0
Investment in available-for-sale securities	220,655		220,655		1,009		219,646		0
Loans, net	823,632		832,932		0		0		832,932
Investment in FHLB stock	2,686		2,686		0		2,686		0
Mortgage servicing rights	2,873		2,873		0		0		2,873
Cash surrender value - life insurance	2,175		2,175		0		2,175		0
Accrued interest receivable	5,100		5,100		5,100		0		0
	$	1,092,826	$	1,102,126	$	41,814	$	224,507	$	835,805
Financial Liabilities:
Deposits:
Non-interest bearing demand	$	180,461	$	180,461	$	180,461	$	0	$	0
Savings, interest checking and money market	427,742		427,742		427,742		0		0
Time deposits	377,789		380,808		0		0		380,808
Federal funds purchased and securities sold under agreements to repurchase	21,499		21,499		21,499		0		0
Subordinated notes	49,486		33,726		0		33,726		0
Federal Home Loan Bank advances	29,033		30,070		0		30,070		0
Accrued interest payable	1,316		1,316		1,316		0		0
	$	1,087,326	$	1,075,622	$	631,018	$	63,796	$	380,808

					December 31, 2012
					Fair Value Measurements
					Quoted Prices
					in Active				Net
					Markets for		Other		Significant
	December 31, 2012				Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
(in thousands)	amount		value		(Level 1)		(Level 2)		(Level 3)
Financial Assets:
Cash and due from banks	$	31,020	$	31,020	$	31,020	$	0	$	0
Federal fund sold and overnight interest-bearing deposits	27,857		27,857		27,857		0		0
Investment in available-for-sale securities	200,246		200,246		2,030		198,216		0
Loans, net	832,142		834,824		0		0		834,824
Investment in FHLB stock	2,278		2,278		0		2,278		0
Mortgage servicing rights	2,549		2,549		0		0		2,549
Cash surrender value - life insurance	2,136		2,136		0		2,136		0
Accrued interest receivable	5,190		5,190		5,190		0		0
	$	1,103,418	$	1,106,100	$	66,097	$	202,630	$	837,373
Financial Liabilities:
Deposits:
Non-interest bearing demand	$	192,271	$	192,271	$	192,271	$	0	$	0
Savings, interest checking, and money market	405,702		405,702		405,702		0		0
Time deposits	393,302		397,986		0		0		397,986
Federal funds purchased and securities sold under agreements to repurchase	21,058		21,058		21,058		0		0
Subordinated notes	49,486		13,154		0		13,154		0
Federal Home Loan Bank advances	20,126		20,651		0		20,651		0
Accrued interest payable	909		909		909		0		0
	$	1,082,854	$	1,051,731	$	619,940	$	33,805	$	397,986