XML 47 R32.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Fair Value Disclosures (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2016
Fair Value Disclosures [Abstract] |
Assets Measured at Fair Value on a Recurring Basis | There were no liabilities measured at fair value on a recurring basis at March 31, 2016 and December 31, 2015.
(Dollars in thousands) |  | Fair Value Measurements Using |  |  | Total |
March 31, 2016 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency obligations |  | $ | — |  |  | $ | 91,968 |  |  | $ | — |  |  | $ | 91,968 |
Mortgage-backed securities-residential |  |  | — |  |  |  | 27,177 |  |  |  | — |  |  |  | 27,177 |
Asset backed securities |  |  | — |  |  |  | 12,843 |  |  |  | — |  |  |  | 12,843 |
State and municipal |  |  | — |  |  |  | 1,327 |  |  |  | — |  |  |  | 1,327 |
Corporate bonds |  |  | — |  |  |  | 28,023 |  |  |  | — |  |  |  | 28,023 |
SBA pooled securities |  |  | — |  |  |  | 179 |  |  |  | — |  |  |  | 179 |
|  | $ | — |  |  | $ | 161,517 |  |  | $ | — |  |  | $ | 161,517 |
Loans held for sale |  | $ | — |  |  | $ | 3,043 |  |  | $ | — |  |  | $ | 3,043 |
(Dollars in thousands) |  | Fair Value Measurements Using |  |  | Total |
December 31, 2015 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Securities available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Government agency obligations |  | $ | — |  |  | $ | 91,034 |  |  | $ | — |  |  | $ | 91,034 |
Mortgage-backed securities-residential |  |  | — |  |  |  | 28,340 |  |  |  | — |  |  |  | 28,340 |
Asset backed securities |  |  | — |  |  |  | 17,526 |  |  |  | — |  |  |  | 17,526 |
State and municipal |  |  | — |  |  |  | 1,526 |  |  |  | — |  |  |  | 1,526 |
Corporate bonds |  |  | — |  |  |  | 24,559 |  |  |  | — |  |  |  | 24,559 |
SBA pooled securities |  |  | — |  |  |  | 184 |  |  |  | — |  |  |  | 184 |
|  | $ | — |  |  | $ | 163,169 |  |  | $ | — |  |  | $ | 163,169 |
Loans held for sale |  | $ | — |  |  | $ | 1,341 |  |  | $ | — |  |  | $ | 1,341 |
Fair Value of Assets Measured on Non-recurring Basis | There were no liabilities measured at fair value on a non-recurring basis at March 31, 2016 and December 31, 2015.
(Dollars in thousands) |  | Fair Value Measurements Using |  |  | Total |
March 31, 2016 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Impaired loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | — |  |  | $ | — |  |  | $ | 432 |  |  | $ | 432 |
1-4 family residential properties |  |  | — |  |  |  | — |  |  |  | 12 |  |  |  | 12 |
Commercial |  |  | — |  |  |  | — |  |  |  | 4,289 |  |  |  | 4,289 |
Factored receivables |  |  | — |  |  |  | — |  |  |  | 2,861 |  |  |  | 2,861 |
PCI |  |  | — |  |  |  | — |  |  |  | 982 |  |  |  | 982 |
Other real estate owned (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-4 family residential properties |  |  | — |  |  |  | — |  |  |  | 124 |  |  |  | 124 |
|  | $ | — |  |  | $ | — |  |  | $ | 8,700 |  |  | $ | 8,700 |
(Dollars in thousands) |  | Fair Value Measurements Using |  |  | Total |
December 31, 2015 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Impaired loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | — |  |  | $ | — |  |  | $ | 431 |  |  | $ | 431 |
1-4 family residential properties |  |  | — |  |  |  | — |  |  |  | 13 |  |  |  | 13 |
Commercial |  |  | — |  |  |  | — |  |  |  | 695 |  |  |  | 695 |
Factored receivables |  |  | — |  |  |  | — |  |  |  | 1,156 |  |  |  | 1,156 |
PCI |  |  | — |  |  |  | — |  |  |  | 170 |  |  |  | 170 |
Other real estate owned (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-4 family residential properties |  |  | — |  |  |  | — |  |  |  | 128 |  |  |  | 128 |
Construction, land development, land |  |  | — |  |  |  | — |  |  |  | 1,377 |  |  |  | 1,377 |
|  | $ | — |  |  | $ | — |  |  | $ | 3,970 |  |  | $ | 3,970 |
(1) Represents the fair value of OREO that was adjusted during the period and subsequent to its initial classification as OREO
Estimated Fair Value of Company's Financial Assets and Financial Liabilities | The estimated fair values of the Company’s financial instruments not previously presented at March 31, 2016 and December 31, 2015 were as follows:
(Dollars in thousands) |  | Carrying |  |  | Fair Value Measurements Using |  |  | Total |
March 31, 2016 |  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 123,715 |  |  | $ | 123,715 |  |  | $ | — |  |  | $ | — |  |  | $ | 123,715 |
Securities - held to maturity |  |  | 25,796 |  |  |  | — |  |  |  | 26,133 |  |  |  | — |  |  |  | 26,133 |
Loans not previously presented, net |  |  | 1,225,171 |  |  |  | — |  |  |  | — |  |  |  | 1,231,620 |  |  |  | 1,231,620 |
FHLB stock |  |  | 4,234 |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |
Accrued interest receivable |  |  | 5,254 |  |  |  | — |  |  |  | 5,254 |  |  |  | — |  |  |  | 5,254 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 1,260,393 |  |  |  | — |  |  |  | 1,262,583 |  |  |  | — |  |  |  | 1,262,583 |
Customer repurchase agreements |  |  | 9,641 |  |  |  | — |  |  |  | 9,641 |  |  |  | — |  |  |  | 9,641 |
Federal Home Loan Bank advances |  |  | 110,000 |  |  |  |  |  |  |  | 110,000 |  |  |  |  |  |  |  | 110,000 |
Junior subordinated debentures |  |  | 24,754 |  |  |  | — |  |  |  | 24,503 |  |  |  | — |  |  |  | 24,503 |
Accrued interest payable |  |  | 1,272 |  |  |  | — |  |  |  | 1,272 |  |  |  | — |  |  |  | 1,272 |
(Dollars in thousands) |  | Carrying |  |  | Fair Value Measurements Using |  |  | Total |
December 31, 2015 |  | Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Fair Value |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 105,277 |  |  | $ | 105,277 |  |  | $ | — |  |  | $ | — |  |  | $ | 105,277 |
Loans not previously presented, net |  |  | 1,276,853 |  |  |  | — |  |  |  | — |  |  |  | 1,281,408 |  |  |  | 1,281,408 |
FHLB stock |  |  | 3,818 |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |
Accrued interest receivable |  |  | 4,832 |  |  |  | — |  |  |  | 4,832 |  |  |  | — |  |  |  | 4,832 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  |  | 1,248,950 |  |  |  | — |  |  |  | 1,249,751 |  |  |  | — |  |  |  | 1,249,751 |
Customer repurchase agreements |  |  | 9,317 |  |  |  | — |  |  |  | 9,317 |  |  |  | — |  |  |  | 9,317 |
Federal Home Loan Bank advances |  |  | 130,000 |  |  |  | — |  |  |  | 130,000 |  |  |  | — |  |  |  | 130,000 |
Junior subordinated debentures |  |  | 24,687 |  |  |  | — |  |  |  | 23,153 |  |  |  | — |  |  |  | 23,153 |
Accrued interest payable |  |  | 1,231 |  |  |  | — |  |  |  | 1,231 |  |  |  | — |  |  |  | 1,231 |

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 5 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19296-110258 + 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 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=49121117&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=36462937&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=49121117&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=49121117&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 assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: 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=36462937&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration