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Fair Value (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value [Abstract]

Financial instruments that were measured at fair value on a recurring and nonrecurring basis

($ in thousands)
Description of Financial Instruments		Fair Value at June 30, 2015			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Recurring
Securities available for sale:
Government-sponsored enterprise securities		$	58,276			––			58,276			—
Mortgage-backed securities			131,309			––			131,309			––
Corporate bonds			24,733			––			24,733			––
Equity securities			132			––			132			––
Total available for sale securities		$	214,450			––			214,450			––
Nonrecurring
Impaired loans – covered		$	2,335			—			—			2,335
Impaired loans – non-covered			19,609			––			––			19,609
Foreclosed real estate – covered			1,945			—			––			1,945
Foreclosed real estate – non-covered			9,954			––			––			9,954

($ in thousands)
Description of Financial Instruments		Fair Value at December 31, 2014			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Recurring
Securities available for sale:
Government-sponsored enterprise securities		$	27,521			––			27,521			—
Mortgage-backed securities			129,510			––			129,510			––
Corporate bonds			865			––			865			––
Equity securities			122			––			122			––
Total available for sale securities		$	158,018			––			158,018			––
Nonrecurring
Impaired loans – covered		$	5,220			—			—			5,220
Impaired loans – non-covered			20,512			––			––			20,512
Foreclosed real estate – covered			2,350			—			––			2,350
Foreclosed real estate – non-covered			9,771			––			––			9,771

Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis

($ in thousands)
Description		Fair Value at June 30, 2015			Valuation Technique		Significant Unobservable Inputs		General Range of Significant Unobservable Input Values
Impaired loans – covered		$	2,335		Appraised value; PV of expected cash flows		Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell		0-10%
Impaired loans – non-covered			19,609		Appraised value; PV of expected cash flows		Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell		0-10%
Foreclosed real estate – covered			1,945		Appraised value; independent market prices		Discounts to reflect current market conditions and estimated costs to sell		0-10%
Foreclosed real estate – non-covered			9,954		Appraised value; independent market prices		Discounts to reflect current market conditions, abbreviated holding period and estimated costs to sell		0-40%

($ in thousands)
Description		Fair Value at December 31, 2014			Valuation Technique		Significant Unobservable Inputs		General Range of Significant Unobservable Input Values
Impaired loans – covered		$	5,220		Appraised value; PV of expected cash flows		Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell		0-10%
Impaired loans – non-covered			20,512		Appraised value; PV of expected cash flows		Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell		0-10%
Foreclosed real estate – covered			2,350		Appraised value; independent market prices		Discounts to reflect current market conditions and estimated costs to sell		0-10%
Foreclosed real estate – non-covered			9,771		Appraised value; independent market prices		Discounts to reflect current market conditions, abbreviated holding period and estimated costs to sell		0-40%

Schedule of the carrying amounts and estimated fair values of financial instruments

			June 30, 2015						December 31, 2014
($ in thousands)	Level in Fair Value Hierarchy		Carrying Amount			Estimated Fair Value			Carrying Amount			Estimated Fair Value
Cash and due from banks, noninterest-bearing	Level 1		$	75,151			75,151			81,068			81,068
Due from banks, interest-bearing	Level 1			102,567			102,567			171,248			171,248
Federal funds sold	Level 1			674			674			768			768
Securities available for sale	Level 2			214,450			214,450			158,018			158,018
Securities held to maturity	Level 2			165,245			167,759			178,687			182,411
Presold mortgages in process of settlement	Level 1			4,934			4,934			6,019			6,019
Total loans, net of allowance	Level 3			2,380,689			,2,355,893			2,355,548			2,328,244
Accrued interest receivable	Level 1			9,134			9,134			8,920			8,920
FDIC indemnification asset	Level 3			11,982			11,692			22,569			21,856
Bank-owned life insurance	Level 1			56,175			56,175			55,421			55,421
Deposits	Level 2			2,653,127			2,652,878			2,695,906			2,696,153
Borrowings	Level 2			176,394			167,611			116,394			105,407
Accrued interest payable	Level 2			625			625			686			686

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The tabular disclosure for level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis,

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Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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