Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value of Assets and Liabilities

Schedule of financial assets measured at fair value on a recurring basis

	December 31, 2014
	Fair Value Measurements Using						Assets at Fair
(Dollars in thousands)	Level 1		Level 2		Level 3		Value
Assets:
Securities available for sale
U.S. government agencies and corporations	$	—	$	22,934	$	—	$	22,934
Mortgage-backed securities		—		67,619		—		67,619
Obligations of states and political subdivisions		—		131,344		—		131,344
Total securities available for sale		—		221,897		—		221,897
Loans held for sale		—		28,279		—		28,279
Derivative asset - IRLC		—		448		—		448
Derivative asset - cash flow hedges		—		40		—		40
Total assets	$	—	$	250,664	$	—	$	250,664
Liabilities:
Derivative liability - cash flow hedges	$	—	$	143	$	—	$	143

	December 31, 2013
	Fair Value Measurements Using						Assets at Fair
(Dollars in thousands)	Level 1		Level 2		Level 3		Value
Assets:
Securities available for sale
U.S. Treasury securities	$	—	$	10,000	$	—	$	10,000
U.S. government agencies and corporations		—		29,950		—		29,950
Mortgage-backed securities		—		50,863		—		50,863
Obligations of states and political subdivisions		—		127,139		—		127,139
Corporate and other debt securities		—		158		—		158
Total securities available for sale		—		218,110		—		218,110
Loans held for sale		—		35,879		—		35,879
Derivative asset - IRLC		—		511		—		511
Derivative asset - forward sales commitments		—		22		—		22
Total assets	$	—	$	254,522	$	—	$	254,522
Liabilities:
Derivative liability - cash flow hedges	$	—	$	331	$	—	$	331

Schedule of financial assets measured at fair value on a nonrecurring basis

	December 31, 2014
	Fair Value Measurements Using						Assets at Fair
(Dollars in thousands)	Level 1		Level 2		Level 3		Value
Impaired loans, net	$	—	$	—	$	1,224	$	1,224
Other real estate owned net		—		—		786		786
Total	$	—	$	—	$	2,010	$	2,010

	December 31, 2013
	Fair Value Measurements Using						Assets at Fair
(Dollars in thousands)	Level 1		Level 2		Level 3		Value
Impaired loans, net	$	—	$	—	$	3,646	$	3,646
Other real estate owned, net		—		—		2,769		2,769
Total	$	—	$	—	$	6,415	$	6,415

Schedule of quantitative information about Level 3 fair value measurements for financial assets measured at fair value on a non-recurring basis

	Fair Value Measurements at December 31, 2014
(Dollars in thousands)	Fair Value		Valuation Technique(s)	Unobservable Inputs	Range of Inputs
Impaired loans, net	$	1,224	Appraisals	Discount to reflect current market conditions and estimated selling costs	10% - 50%
Other real estate owned, net		786	Appraisals	Discount to reflect current market conditions and estimated selling costs	0% - 56%
Total	$	2,010

Schedule of carrying amounts and estimated fair values by balance sheet grouping

	Carrying		Fair Value Measurements at December 31, 2014 Using						Total Fair
(Dollars in thousands)	Value		Level 1		Level 2		Level 3		Value
Financial assets:
Cash and short-term investments	$	167,616	$	167,616	$	—	$	—	$	167,616
Securities available for sale		221,897		—		221,897		—		221,897
Loans, net		800,198		—		—		813,010		813,010
Loans held for sale		28,279		—		28,279		—		28,279
Derivative asset - IRLC		448		—		448		—		448
Derivative asset - cash flow hedges		40		—		40		—		40
Accrued interest receivable		6,421		6,421		—		—		6,421
Financial liabilities:
Demand deposits	$	659,594	$	659,594	$	—	$	—	$	659,594
Time deposits		366,507		—		369,538		—		369,538
Borrowings		167,027		—		160,052		—		160,052
Derivative liability - cash flow hedges		143		—		143		—		143
Accrued interest payable		740		740		—		—		740

	Carrying		Fair Value Measurements at December 31, 2013 Using						Total Fair
(Dollars in thousands)	Value		Level 1		Level 2		Level 3		Value
Financial assets:
Cash and short-term investments	$	148,139	$	148,139	$	—	$	—	$	148,139
Securities available for sale		218,110		—		218,110		—		218,110
Loans, net		785,532		—		—		800,488		800,488
Loans held for sale		35,879		—		35,879		—		35,879
Derivative asset - IRLC		511		—		511		—		511
Derivative asset - forward sales commitments		22		—		22		—		22
Accrued interest receivable		6,360		6,360		—		—		6,360
Financial liabilities:
Demand deposits	$	608,409	$	608,409	$	—	$	—	$	608,409
Time deposits		399,883		—		403,291		—		403,291
Borrowings		169,835		—		162,194		—		162,194
Derivative liability - cash flow hedges		331		—		331		—		331
Accrued interest payable		843		843		—		—		843