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Fair Value (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are as follows at December 31, 2013 and 2012:

						Fair Value Measurements at December 31, 2013 Using
Description		Total				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Securities Available For Sale:
U.S. Treasury		$	0			$	0			$	0			$	0
U.S. Government sponsored entities			181,625				0				181,625				0
States and political subdivisions			177,943				0				177,943				0
Residential and multi-family mortgage			242,607				0				242,607				0
Commercial mortgage			374				0				374				0
Corporate notes and bonds			14,075				0				14,075				0
Pooled trust preferred			661				0				0				661
Pooled SBA			67,721				0				67,721				0
Other securities			985				985				0				0
Total Securities Available For Sale		$	685,991			$	985			$	684,345			$	661
Trading Securities:
Corporate equity securities		$	2,705			$	2,705			$	0			$	0
Certificates of deposit			253				253				0				0
International mutual funds			259				259				0				0
Large cap growth mutual funds			197				197				0				0
Money market mutual funds			124				124				0				0
Large cap value mutual funds			129				129				0				0
Corporate notes and bonds			152				0				152				0
Real estate investment trust mutual funds			39				39				0				0
U.S. Government sponsored entities			52				0				52				0
Small cap mutual funds			83				83				0				0
Mid cap mutual funds			84				84				0				0
Commodities mutual funds			50				50				0				0
Total Trading Securities		$	4,127			$	3,923			$	204			$	0
Liabilities,
Interest rate swaps		$	(1,116	)		$	0			$	(1,116	)		$	0

						Fair Value Measurements at December 31, 2012 Using
Description		Total				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Securities Available For Sale:
U.S. Treasury		$	4,036			$	0			$	4,036			$	0
U.S. Government sponsored entities			163,781				0				163,781				0
States and political subdivisions			181,279				0				181,279				0
Residential and multi-family mortgage			316,822				0				316,822				0
Commercial mortgage			1,304				0				1,304				0
Corporate notes and bonds			15,024				0				13,044				1,980
Pooled trust preferred			600				0				0				600
Pooled SBA			52,927				52,631				296				0
Other securities			1,538				1,538				0				0
Total Securities Available For Sale		$	737,311			$	54,169			$	680,562			$	2,580
Trading Securities:
Corporate equity securities		$	3,117			$	3,117			$	0			$	0
Certificates of deposit			408				408				0				0
International mutual funds			287				287				0				0
Large cap growth mutual funds			157				157				0				0
Money market mutual funds			110				110				0				0
Large cap value mutual funds			104				104				0				0
Corporate notes and bonds			101				0				101				0
Real estate investment trust mutual funds			65				65				0				0
U.S. Government sponsored entities			58				0				58				0
Small cap mutual funds			26				26				0				0
Mid cap mutual funds			26				26				0				0
Total Trading Securities		$	4,459			$	4,300			$	159			$	0
Liabilities,
Interest rate swaps		$	(1,745	)		$	0			$	(1,745	)		$	0

Securities Available for Sale Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3)

The table below presents a reconciliation and income statement classification of gains and losses for all securities available for sale measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2013:

		Corporate notes and bonds				Pooled trust preferred
Balance, January 1, 2013		$	1,980			$	600
Total gains or (losses):
Included in other comprehensive income (loss)			(29	)			61
Included in realized gains on available-for-sale securities			58				0
Sale of available-for-sale securities			(2,009	)			0
Balance, December 31, 2013		$	0			$	661

The table below presents a reconciliation and income statement classification of gains and losses for all securities available for sale measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2012:

		Corporate notes and bonds				Pooled trust preferred
Balance, January 1, 2012		$	2,060			$	340
Total gains or (losses):
Included in other comprehensive income (unrealized)			(80	)			260
Balance, December 31, 2012		$	1,980			$	600

Quantitative Information about Level 3 Fair Value Measurements

The following table presents quantitative information about Level 3 fair value measurements at December 31, 2013:

		Fair value				Valuation Technique		Unobservable Inputs		Input Utilized
Pooled trust preferred		$	661			Discounted cash flow		Collateral default rate Yield Prepayment speed		2% in 2014; 1.5% in 2015; 1.0% in 2016; 0.5% in 2017 and thereafter 15% 2.0% constant prepayment rate in 2014 and thereafter

The following table presents quantitative information about Level 3 fair value measurements at December 31, 2012:

		Fair value		Valuation Technique		Unobservable Inputs		Input Utilized
Corporate notes and bonds		$1,980		Discounted cash flow		Constant prepayment rate Probability of default Discount rate		0% 0% 9.6%
Pooled trust preferred		$600		Discounted cash flow		Collateral default rate Discount rate Recovery probability		2% annually for 2 years; 0.36% thereafter 13% 10%, lagged 2 years

Sale Securities Reported as Level 1 Securities as of Beginning of Period were Transferred to Level 2 Category

During the year ended December 31, 2012, the following available for sale securities reported as Level 1 securities as of the beginning of the year were transferred to the Level 2 category:

		2012
U.S. Government sponsored entities		$	2,000
States and political subdivisions			4,655
Residential and multi-family mortgage			8,577
Total		$	15,232

Assets and Liabilities Measured at Fair Value on Non-Recurring Basis

Assets and liabilities measured at fair value on a non-recurring basis are as follows at December 31, 2013 and 2012:

						Fair Value Measurements at December 31, 2013 Using
Description		Total				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant  Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Impaired loans:
Commercial mortgages		$	3,000				0				0			$	3,000
Commercial, industrial, and agricultural			3,706				0				0				3,706
						Fair Value Measurements at December 31, 2012 Using
Description		Total				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant  Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Impaired loans:
Commercial mortgages		$	8,422			$	0			$	0			$	8,422
Commercial, industrial, and agricultural			1,973				0				0				1,973
Residential real estate			402				0				0				402

Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Non Recurring Basis

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2013:

		Fair value				Valuation Technique		Unobservable Inputs		Range (Weighted Average)
Impaired loans – commercial mortgages		$	3,000			Sales comparison approach		Adjustment for differences between the comparable sales		17%—61% (22%)
Impaired loans – commercial, industrial, and agricultural		$	3,274			Sales comparison approach		Adjustment for differences between the comparable sales		9%
Impaired loans – commercial, industrial, and agricultural		$	432			Income approach		Adjustment for differences in net operating income		2%

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2012:

		Fair value				Valuation Technique		Unobservable Inputs		Range (Weighted Average)
Impaired loans – commercial mortgages		$	8,422			Sales comparison approach		Adjustment for differences between the comparable sales		1%—39% (19%)
Impaired loans – commercial, industrial, and agricultural		$	1,973			Income approach		Adjusting for differences in net operating income		24%—38% (27%)
Impaired loans – residential real estate		$	402			Sales comparison approach		Adjustment for differences between the comparable sales		10%—15% (11%)

Carrying Amount and Fair Value of Financial Instruments

The following table presents the carrying amount and fair value of financial instruments at December 31, 2013:

		Carrying Amount				Fair Value Measurement Using:												Total Fair Value
						Level 1				Level 2				Level 3
ASSETS
Cash and cash equivalents		$	29,633			$	29,633			$	0			$	0			$	29,633
Interest bearing time deposits with other banks			275				0				274				0				274
Securities available for sale			685,991				985				684,345				661				685,991
Trading securities			4,127				3,923				204				0				4,127
Loans held for sale			487				0				507				0				507
Net loans			1,279,129				0				0				1,276,622				1,276,622
FHLB and other equity interests			7,533				n/a				n/a				n/a				n/a
Accrued interest receivable			8,032				368				3,302				4,362				8,032
LIABILITIES
Deposits		$	(1,835,314	)		$	(1,569,552	)		$	(265,237	)		$	0			$	(1,834,789	)
FHLB and other borrowings			(87,950	)			0				(87,833	)			0				(87,833	)
Subordinated debentures			(20,620	)			0				(11,178	)			0				(11,178	)
Interest rate swaps			(1,116	)			0				(1,116	)			0				(1,116	)
Accrued interest payable			(868	)			(200	)			(653	)			(15	)			(868	)

The following table presents the carrying amount and fair value of financial instruments at December 31, 2012:

		Carrying Amount				Fair Value Measurement Using:												Total Fair Value
						Level 1				Level 2				Level 3
ASSETS
Cash and cash equivalents		$	31,881			$	31,881			$	0			$	0			$	31,881
Interest bearing time deposits with other banks			225				0				281				0				281
Securities available for sale			737,311				54,169				680,562				2,580				737,311
Trading securities			4,459				4,300				159				0				4,459
Loans held for sale			2,398				0				2,460				0				2,460
Net loans			913,764				0				0				946,238				946,238
FHLB and other equity interests			6,684				n/a				n/a				n/a				n/a
Accrued interest receivable			6,863				278				3,498				3,087				6,863
LIABILITIES
Deposits		$	(1,485,003	)		$	(1,272,060	)		$	(215,485	)		$	0			$	(1,487,545	)
FHLB and other borrowings			(97,806	)			0				(105,850	)			0				(105,850	)
Subordinated debentures			(20,620	)			0				(10,682	)			0				(10,682	)
Interest rate swaps			(1,745	)			0				(1,745	)			0				(1,745	)
Accrued interest payable			(1,022	)			(301	)			(707	)			(14	)			(1,022	)

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