XML 42 R30.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Fair Value Measurements (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2017
Fair Value Disclosures [Abstract] |
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring And Nonrecurring Basis | The following table presents assets and liabilities measured at fair value (in thousands):
| Total | Level 1 | Level 2 | Level 3 | Total Gains (Losses)
September 30, 2017 |  |  |  |  |
Recurring fair value measurements |  |  |  |  |
Financial Assets |  |  |  |  |
U.S. Government agencies | $ | 2 |  | $ | — |  | $ | 2 |  | $ | — |  |
Obligations of states and political subdivisions | 97,168 |  | — |  | 97,168 |  | — |  |
Mortgage-backed securities: |  |  |  |  |  |
U.S. Government agencies | 393,987 |  | — |  | 393,987 |  | — |  |
Private label | 690 |  | — |  | 690 |  | — |  |
Trust preferred securities | 4,944 |  | — |  | 4,683 |  | 261 |  |
Corporate securities | 22,326 |  | — |  | 22,326 |  | — |  |
Marketable equity securities | 5,017 |  | 5,017 |  | — |  | — |  |
Investment funds | 1,499 |  | 1,499 |  | — |  | — |  |
Derivative assets | 14,473 |  | — |  | 14,473 |  | — |  |
Financial Liabilities |  |  |  |  |  |  |  |  |
Derivative liabilities | 14,458 |  | — |  | 14,458 |  | — |  |
Nonrecurring fair value measurements |  |  |  |  |  |  |  |  |
Financial Assets |  |  |  |  |
Impaired loans | $ | 9,256 |  | $ | — |  | $ | — |  | $ | 9,256 |  | $ | (705 | )
Non-Financial Assets |  |  |  |  |
Other real estate owned | 3,995 |  | — |  | — |  | 3,995 |  | (312 | )
Other assets | — |  | — |  | — |  | — |  | (170 | )
December 31, 2016 |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements |  |  |  |  |  |  |  |  |  |
Financial Assets |  |  |  |  |  |  |  |  |  |
U.S. Government agencies | $ | 3 |  | $ | — |  | $ | 3 |  | $ | — |  |  |
Obligations of states and political subdivisions | 82,368 |  | — |  | 82,368 |  | — |  |  |
Mortgage-backed securities: |  |  |  |  |  |  |
U.S. Government agencies | 330,814 |  | — |  | 330,814 |  | — |  |  |
Private label | 942 |  | — |  | 942 |  | — |  |  |
Trust preferred securities | 6,662 |  | — |  | 4,127 |  | 2,535 |  |  |
Corporate securities | 23,574 |  | — |  | 23,574 |  | — |  |  |
Marketable equity securities | 4,231 |  | 4,231 |  | — |  | — |  |  |
Investment funds | 1,489 |  | 1,489 |  | — |  | — |  |  |
Derivative assets | 15,463 |  | — |  | 15,463 |  | — |  |  |
Financial Liabilities |  |  |  |  |  |  |
Derivative liabilities | 15,483 |  | — |  | 15,483 |  | — |  |  |
Nonrecurring fair value measurements |  |  |  |  |  |  |  |  |  |
Financial Assets |  |  |  |  |
Impaired loans | $ | 6,916 |  | $ | — |  | $ | — |  | $ | 6,916 |  | $ | (665 | )
Non-Financial Assets |  |  |  |  |
Other real estate owned | 4,588 |  | — |  | — |  | 4,588 |  | (665 | )
Other assets | 625 |  | — |  | — |  | 625 |  | (444 | )
Schedule Of Reconciliation Of Investment Securities Available For Sale Measured At Fair Value On A Recurring Basis Level 3 Assets | The table below presents a reconcilement of the Company’s financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), which consist solely of trust preferred securities (in thousands):
| Nine months ended September 30,
2017 | 2016
Beginning balance | $ | 2,535 |  | $ | 2,096 |
Impairment losses on investment securities | — |  | (465 | )
Gains on sale of investment securities | — |  | 3,978 |
Included in other comprehensive income | (974 | ) | (2,985 | )
Dispositions | (1,300 | ) | — |
Transfers into Level 3 | — |  | — |
Ending balance | $ | 261 |  | $ | 2,624 |
Schedule Of Level 3 Financial Assets And Liabilities Measured On A Non-Recurring Basis | The table below presents a reconcilement of the Company's financial assets and liabilities measured at fair value on a nonrecurring basis using significant unobservable inputs (Level 3), which solely relates to impaired loans that were remeasured and reported at fair value through a specific valuation allowance allocation of the allowance for loan losses based upon the fair value of the underlying collateral (in thousands). The fair value of impaired loans is estimated using one of several methods, including collateral value, liquidation value and discounted cash flows. The significant unobservable inputs used in the fair value measurement of collateral for collateral-dependent impaired loans primarily relate to discounts applied to the customers’ reported amount of collateral. The amount of collateral discount depends upon the marketability of the underlying collateral. During the nine months ended September 30, 2017 and 2016, collateral discounts ranged from 20% to 30%. During the nine months ended September 30, 2017 and 2016, the Company had no Level 2 financial assets and liabilities that were measured on a nonrecurring basis.
| Nine months ended September 30,
2017 | 2016
Beginning balance | $ | 6,916 |  | $ | 8,482 |
Loans classified as impaired during the period | 2,995 |  | — |
Specific valuation allowance allocations | (86 | ) | — |
Loans classified as impaired during the period, net of specific valuation allowances | 2,909 |  | — |
(Additional) reduction in specific valuation allowance allocations | 40 |  | — |
Paydowns, payoffs, other activity | (609 | ) | (3,115 | )
Ending balance | $ | 9,256 |  | $ | 5,367 |
Schedule Of Level 3 Non-Financial Assets and Liabilities Measured On a Non-Recurring Basis | The table below presents OREO that was remeasured and reported at fair value based on significant unobservable inputs (Level 3) (in thousands):
| Nine months ended September 30,
| 2017 | 2016
Beginning balance | $ | 4,588 |  | $ | 6,518 |
OREO remeasured at initial recognition: |  |
Carrying value of foreclosed assets prior to remeasurement | 2,743 |  | 2,528 |
Charge-offs recognized in the allowance for loan losses | (954 | ) | — |
Fair value | 1,789 |  | 2,528 |
OREO remeasured subsequent to initial recognition: |  |
Carrying value of foreclosed assets prior to remeasurement | 1,464 |  | 1,228 |
Fair value | 1,152 |  | 829 |
Write-downs included in other non-interest expense | (312 | ) | (399 | )
Disposed | (2,070 | ) | (3,156 | )
Ending balance | $ | 3,995 |  | $ | 5,491 |
Schedule Of Estimates Of Fair Value Of Financial Instruments | The following table represents the estimates of fair value of financial instruments (in thousands). This table excludes financial instruments for which the carrying amount approximates fair value. For short-term financial assets such as cash and cash equivalents, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For financial liabilities such as noninterest-bearing demand, interest-bearing demand and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity.
| Carrying Amount | Fair Value | Level 1 | Level 2 | Level 3
September 30, 2017 |  |  |  |  |
Assets:
Cash and cash equivalents | $ | 83,165 |  | $ | 83,165 |  | $ | 83,165 |  | $ | — |  | $ | — |
Securities available-for-sale | 525,633 |  | 525,633 |  | 6,516 |  | 518,856 |  | 261 |
Securities held-to-maturity | 66,989 |  | 68,478 |  | — |  | 68,478 |  | — |
Other securities | 15,988 |  | 15,988 |  | — |  | 15,988 |  | — |
Net loans | 3,086,358 |  | 3,076,108 |  | — |  | — |  | 3,076,108 |
Accrued interest receivable | 9,236 |  | 9,236 |  | 9,236 |  | — |  | — |
Derivative assets | 14,473 |  | 14,473 |  | — |  | 14,473 |  | — |
Liabilities: |  |  |  |  |
Deposits | 3,256,534 |  | 3,255,343 |  | 2,180,589 |  | 1,074,754 |  | — |
Short-term debt | 281,464 |  | 281,464 |  | — |  | 281,464 |  | — |
Long-term debt | 16,495 |  | 16,452 |  | — |  | 16,452 |  | — |
Derivative liabilities | 14,458 |  | 14,458 |  | — |  | 14,458 |  | — |
December 31, 2016 |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | 88,139 |  | 88,139 |  | 88,139 |  | — |  | — |
Securities available-for-sale | 450,083 |  | 450,083 |  | 5,720 |  | 441,828 |  | 2,535 |
Securities held-to-maturity | 75,169 |  | 76,445 |  | — |  | 76,445 |  | — |
Other securities | 14,352 |  | 14,352 |  | — |  | 14,352 |  | — |
Net loans | 3,026,496 |  | 3,014,425 |  | — |  | — |  | 3,014,425 |
Accrued interest receivable | 8,408 |  | 8,408 |  | 8,408 |  | — |  | — |
Derivative assets | 15,463 |  | 15,463 |  | — |  | 15,463 |  | — |
Liabilities: |  |  |  |  |
Deposits | 3,231,653 |  | 3,232,970 |  | 2,190,234 |  | 1,042,736 |  | — |
Short-term debt | 248,305 |  | 248,305 |  | — |  | 248,305 |  | — |
Long-term debt | 16,495 |  | 16,455 |  | — |  | 16,455 |  | — |
Derivative liabilities | 15,483 |  | 15,483 |  | — |  | 15,483 |  | — |

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=66048111&loc=SL7498348-110258 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13476-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13433-108611 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration