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Disclosures About Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value of Financial Instruments [Abstract]

Fair value measurements of assets and liabilities recognized on a recurring basis

		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
September 30, 2012
Available-for-sale securities
U.S. Treasury and federal agencies		$	47,376			$	—			$	47,376			$	—
State and municipal			174,821				—				174,821				—
Federal agency collateralized mortgage obligations			99,041				—				99,041				—
Federal agency mortgage-backed pools			174,137				—				174,137				—
Private labeled mortgage-backed pools			2,288				—				2,288				—
Corporate notes			41				—				41				—
Total available-for-sale securities			497,704				—				497,704				—
Hedged loans			74,947				—				74,947				—
Forward sale commitments			942				—				942				—
Interest rate swap agreements			(7,969	)			—				(7,969	)			—
Commitments to originate loans			—				—				—				—
December 31, 2011
Available-for-sale securities
U.S. Treasury and federal agencies		$	13,022			$	—			$	13,022			$	—
State and municipal			143,890				—				143,890				—
Federal agency collateralized mortgage obligations			91,122				—				91,122				—
Federal agency mortgage-backed pools			179,351				—				179,351				—
Private labeled mortgage-backed pools			3,636				—				3,636				—
Corporate notes			24				—				24				—
Total available-for-sale securities			431,045				—				431,045				—
Hedged loans			54,362				—				—				54,362
Forward sale commitments			662				—				—				662
Interest rate swap agreements			(7,102	)			—				—				(7,102	)
Commitments to originate loans			—				—				—				—

Schedule of fair value transfer among levels

		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Reason for Transfer
Transfers to level:
Hedged loans		$	—			$	74,947			$	—				(a	)
Forward sale commitments			—				942				—				(b	)
Interest rate swap agreements			—				(7,969	)			—				(a	)
Commitments to originate loans			—				—				—				(b	)
Total transfers to level		$	—			$	67,920			$	—

Reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying condensed consolidated balance sheet using significant unobservable (Level 3) inputs.

		Hedged Loans				Forward Sale Commitments				Interest Rate Swaps				Commitments to Originate Loans
Beginning balance December 31, 2011		$	54,362			$	662			$	(7,101	)		$	—
Total realized and unrealized gains and losses
Included in net income			(74	)			(152	)			74				(71	)
Included in other comprehensive income, gross			—				—				563				—
Purchases, issuances, and settlements			6,114				—				—				—
Principal payments			(491	)			—				—				—
Transfers out to Level 2			(59,911	)			(510	)			6,464				71
Ending balance September 30, 2012		$	—			$	—			$	—			$	—
		Hedged Loans				Forward Sale Commitments				Interest Rate Swaps				Commitments to Originate Loans
Beginning balance December 31, 2010		$	50,088			$	407			$	(3,415	)		$	—
Total realized and unrealized gains and losses
Included in net income			(410	)			(126	)			410				(56	)
Included in other comprehensive income, gross			—				—				451				—
Purchases, issuances, and settlements			(352	)			—				—				—
Principal payments			(915	)			—				—				—
Ending balance March 31, 2011			48,411				281				(2,554	)			(56	)
Total realized and unrealized gains and losses
Included in net income			351				174				(351	)			(8	)
Included in other comprehensive income, gross			—				—				(941	)			—
Purchases, issuances, and settlements			1,200				—				—				—
Principal payments			(344	)			—				—				—
Ending balance June 30, 2011			49,618				455				(3,846	)			(64	)
Total realized and unrealized gains and losses
Included in net income			393				294				(393	)			64
Included in other comprehensive income, gross			—				—				(3,001	)			—
Purchases, issuances, and settlements			1,797				—				—				—
Principal payments			(628	)			—				—				—
Ending balance September 30, 2011		$	51,180			$	749			$	(7,240	)		$	—

Realized gains and losses included in net income for the periods in the condensed consolidated statements of income

		Three Months Ended September 30								Nine Months Ended September 30
		2012				2011				2012				2011
Non Interest Income		(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
Total gains and losses from:
Hedged loans		$	112			$	394			$	336			$	335
Fair value interest rate swap agreements			(112	)			(394	)			(336	)			(335	)
Derivative loan commitments			320				359				600				1,157
		$	320			$	359			$	600			$	1,157

Other assets are measured at fair value on a nonrecurring basis

		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
September 30, 2012
Impaired loans		$	10,462			$	—			$	—			$	10,462
Mortgage servicing rights			4,602				—				—				4,602
December 31, 2011
Impaired loans		$	5,822			$	—			$	—			$	5,822
Mortgage servicing rights			4,193				—				—				4,193

Unobservable inputs in recurring and nonrecurring level 3 fair value measurements

		Fair Value at September 30, 2012				Valuation Technique		Unobservable Inputs		Range (Weighted Average)
Impaired loans			10,462			Collateral based measurement		Discount to reflect current market conditions and ultimate collectability		0% - 50%
Mortgage servicing rights			4,602			Discounted cashflows		Discount to reflect current market conditions		0% - 20%

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Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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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).

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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-Publisher FASB

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-Paragraph 14

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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