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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value of Financial Instruments [Abstract]

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

The following table summarizes the Company's financial instruments that were measured at fair value on a recurring and nonrecurring basis at December 31, 2015.

($ in thousands)
Description of Financial Instruments		Fair Value at December 31, 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		$	18,972				—				18,972				—
Mortgage-backed securities			121,553				—				121,553				—
Corporate bonds			24,946				—				24,946				—
Equity securities			143				—				143				—
Total available for sale securities		$	165,614				—				165,614				—
Nonrecurring
Impaired loans – covered		$	2,588				—				—				2,588
Impaired loans – non-covered			18,057				—				—				18,057
Foreclosed real estate – covered			806				—				—				806
Foreclosed real estate – non-covered			9,188				—				—				9,188

The following table summarizes the Company's financial instruments that were measured at fair value on a recurring and nonrecurring basis at December 31, 2014.

($ 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		$	3,991				—				—				3,991
Impaired loans – non-covered			18,035				—				—				18,035
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

For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of December 31, 2015, the significant unobservable inputs used in the fair value measurements were as follows:

($ in thousands)
Description		Fair Value at December 31, 2015				Valuation Technique		Significant Unobservable Inputs		General Range of Significant Unobservable Input Values
Impaired loans – covered		$	2,588			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			18,057			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			806			Appraised value; List or contract price		Discounts to reflect current market conditions and estimated costs to sell		0-10%
Foreclosed real estate – non-covered			9,188			Appraised value; List or contract price		Discounts to reflect current market conditions, abbreviated holding period and estimated costs to sell		0-10%

For Level 3 assets and liabilities measured at fair value on a recurring or non-recurring basis as of December 31, 2014, the significant unobservable inputs used in the fair value measurements were as follows:

($ in thousands)
Description		Fair Value at December 31, 2014				Valuation Technique		Significant Unobservable Inputs		General Range of Significant Unobservable Input Values
Impaired loans – covered		$	3,991			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			18,035			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; List or contract price		Discounts to reflect current market conditions and estimated costs to sell		0-10%
Foreclosed real estate – non-covered			9,771			Appraised value; List or contract price		Discounts to reflect current market conditions, abbreviated holding period and estimated costs to sell		0-10%

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

				December 31, 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		$	53,285			$	53,285				81,068				81,068
Due from banks, interest-bearing		Level 1			213,426				213,426				171,248				171,248
Federal funds sold		Level 1			557				557				768				768
Securities available for sale		Level 2			165,614				165,614				158,018				158,018
Securities held to maturity		Level 2			154,610				157,146				178,687				182,411
Presold mortgages in process of settlement		Level 1			4,323				4,323				6,019				6,019
Total loans, net of allowance		Level 3			2,490,343				2,484,059				2,355,548				2,328,244
Accrued interest receivable		Level 1			9,166				9,166				8,920				8,920
FDIC indemnification asset		Level 3			8,439				8,256				22,569				21,856
Bank-owned life insurance		Level 1			72,086				72,086				55,421				55,421
Deposits		Level 2			2,811,285				2,809,828				2,695,906				2,696,153
Borrowings		Level 2			186,394				178,468				116,394				105,407
Accrued interest payable		Level 2			585				585				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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
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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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