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Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2012

Summary of amortizable intangible assets


	2012							2011
	Gross							Gross
	Carrying		Accumulated			Net		Carrying		Accumulated			Net
(in thousands)	Amount		Amortization			Amount		Amount		Amortization			Amount
Core deposit intangible	$	4,795	$	(4,660	)	$	135	$	4,795	$	(4,252	)	$	543

Estimated future amortization expense


(in thousands)	Core Deposit Intangible Asset
2013	$	135
2014		0
2015		0
2016		0
2017		0

Changes in the net carrying amount of core deposit intangible assets


(in thousands)	2012			2011			2010
Balance at beginning of year	$	543		$	978		$	1,504

Additions		0			0			0
Amortization		(408	)		(435	)		(526	)

Balance at end of year	$	135		$	543		$	978

Changes in mortgage servicing rights


(in thousands)	2012			2011			2010
Balance at beginning of year	$	2,308		$	2,356		$	2,021

Re-measurement to fair value upon election to measure servicing rights at fair value		742			0			0
Originated mortgage servicing rights		830			760			1,169
Changes in fair value:
Due to change in model inputs and assumptions (1)		122			0			0
Other changes in fair value (2)		(1,453	)		0			0
Amortization		0			(808	)		(834	)

Balance at end of year	$	2,549		$	2,308		$	2,356

(1)	The change in fair value resulting from changes in valuation inputs or assumptions used in the valuation model reflects the change in discount rates and prepayment speed assumptions primarily due to changes in interest rates.

(2)

Other changes in fair value reflect changes due to customer payments and passage of time. This also includes a one time adjustment of a $538,000 correction of an immaterial prior period error due to changing from the straight-line amortization method to an accelerated amortization method of accounting for amortizing MSRs in prior years. If the aforementioned was corrected as of December 31, 2011, the balance at the beginning of the period would have been $1,770,000.

Assumptions used in estimating the fair value of mortgage service rights


	2012			2011
Weighted-Average Constant Prepayment Rate		18.60	%		20.86	%
Weighted-Average Note Rate		4.22	%		4.64	%
Weighted-Average Discount Rate		7.99	%		7.99	%
Weighted-Average Contractual Life (in years)		20.00			23.00

- Definition

Tabular disclosure of all information related to the key inputs and assumptions used in measuring the fair value of assets obtained or liabilities incurred, as the result of a sale of financial assets, relating to the transferor's continuing involvement, if any, at the time of securitization, asset-backed financing arrangement, or similar transfer (including at a minimum, but not limited to, and if applicable, quantitative information about discount rates, expected prepayments including the expected weighted-average life of prepayable financial assets, and anticipated credit losses, including expected static pool losses).

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