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Fair Value (Tables)

12 Months Ended

Dec. 31, 2014

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, 2014 and 2013:

						Fair Value Measurements at December 31, 2014 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. Government sponsored entities		$	155,564			$	0			$	155,564			$	0
States and political subdivisions			181,002				0				181,002				0
Residential and multi-family mortgage			265,164				0				265,164				0
Corporate notes and bonds			19,430				0				19,430				0
Pooled trust preferred			905				0				0				905
Pooled SBA			62,653				0				62,653				0
Other securities			1,002				1,002				0				0
Total Securities Available For Sale		$	685,720			$	1,002			$	683,813			$	905
Trading Securities:
Corporate equity securities		$	3,044			$	3,044			$	0			$	0
Certificates of deposit			253				253				0				0
International mutual funds			265				265				0				0
Large cap growth mutual funds			186				186				0				0
Money market mutual funds			132				132				0				0
Large cap value mutual funds			155				0				155				0
Corporate notes and bonds			157				157				0				0
Real estate investment trust mutual funds			46				46				0				0
U.S. Government sponsored entities			54				0				54				0
Small cap mutual funds			80				80				0				0
Mid cap mutual funds			83				83				0				0
Commodities mutual funds			50				50				0				0
Total Trading Securities		$	4,505			$	4,296			$	209			$	0
Liabilities,
Interest rate swaps		$	(946	)		$	0			$	(946	)		$	0

						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

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, 2014:

		Pooled trust preferred
Balance, January 1, 2014		$	661
Total gains or (losses):
Included in other comprehensive income (loss)			244
Included in realized gains on available-for-sale securities			0
Sale of available-for-sale securities			0
Balance, December 31, 2014		$	905

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

Quantitative Information about Level 3 Fair Value Measurements

The following table presents quantitative information about Level 3 fair value measurements at December 31, 2014:

		Fair value		Valuation Technique		Unobservable Inputs		Input Utilized
Pooled trust preferred		$905		Discounted cash flow		Collateral default rate Yield		1% in 2015; 0.5% in 2016 and thereafter 11%
						Prepayment speed		2.0% constant prepayment rate in 2015 and thereafter

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		2% in 2014; 1.5% in 2015; 1.0% in 2016; 0.5% in 2017 and thereafter 15%
						Prepayment speed		2.0% constant prepayment rate in 2014 and thereafter

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, 2014 and 2013:

		Fair Value Measurements at December 31, 2014 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		$	2,353				0				0			$	2,353
Commercial, industrial, and agricultural			2,820				0				0				2,820

		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

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, 2014:

		Fair value				Valuation Technique		Unobservable Inputs		Range (Weighted Average)
Impaired loans – commercial mortgages		$	2,353			Sales comparison approach		Adjustment for differences between the comparable sales		34%—100%(44%)
Impaired loans – commercial, industrial, and agricultural		$	2,820			Sales comparison approach		Adjustment for differences between the comparable sales		8%—49%(13%)

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%

Carrying Amount and Fair Value of Financial Instruments

The following table presents the carrying amount and fair value of financial instruments at December 31, 2014:

		Carrying Amount				Fair Value Measurement Using:												Total Fair Value
						Level 1				Level 2				Level 3
ASSETS
Cash and cash equivalents		$	27,928			$	27,928			$	0			$	0			$	27,928
Interest bearing time deposits with other banks			225				0				224				0				224
Securities available for sale			685,720				1,002				683,813				905				685,720
Trading securities			4,505				4,296				209				0				4,505
Loans held for sale			887				0				938				0				938
Net loans			1,337,916				0				0				1,337,537				1,337,537
FHLB and other equity interests			6,695				n/a				n/a				n/a				n/a
Accrued interest receivable			7,441				5				3,503				3,933				7,441
LIABILITIES
Deposits		$	(1,847,079	)		$	(1,670,172	)		$	(176,036	)		$	0				(1,846,208	)
FHLB and other borrowings			(111,695	)			0				(111,821	)			0				(111,821	)
Subordinated debentures			(20,620	)			0				(11,395	)			0				(11,395	)
Interest rate swaps			(946	)			0				(946	)			0				(946	)
Accrued interest payable			(804	)			(358	)			(430	)			(16	)			(804	)

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	)

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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.

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