XML 38 R27.htm IDEA: XBRL DOCUMENT
v3.4.0.3

FAIR VALUE DISCLOSURES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2016
Fair Value Disclosures [Abstract] |
Summary of Assets Measured at Estimated Fair Value on Recurring Basis | A summary of assets at March 31, 2016 and December 31, 2015, measured at estimated fair value on a recurring basis was as follows:
(Dollars in Thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value Measurements
March 31, 2016 |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |
U.S. Government Agencies | $ | 0 |  |  | $ | 45,139 |  |  | $ | 0 |  |  | $ | 45,139 |
States and political subdivisions | 0 |  |  | 129,181 |  |  | 0 |  |  | 129,181 |
U.S. Government Sponsored enterprises (GSE) residential mortgage-backed securities | 0 |  |  | 130,775 |  |  | 0 |  |  | 130,775 |
GSE residential collateralized mortgage obligations (CMOs) | 0 |  |  | 14,404 |  |  | 0 |  |  | 14,404 |
Private label CMOs | 0 |  |  | 8,018 |  |  | 0 |  |  | 8,018 |
Total debt securities | 0 |  |  | 327,517 |  |  | 0 |  |  | 327,517 |
Equity securities - financial services | 0 |  |  | 73 |  |  | 0 |  |  | 73 |
Total securities | $ | 0 |  |  | $ | 327,590 |  |  | $ | 0 |  |  | $ | 327,590 |
December 31, 2015 |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |
U.S. Government Agencies | $ | 0 |  |  | $ | 47,227 |  |  | $ | 0 |  |  | $ | 47,227 |
States and political subdivisions | 0 |  |  | 125,961 |  |  | 0 |  |  | 125,961 |
GSE residential mortgage-backed securities | 0 |  |  | 132,349 |  |  | 0 |  |  | 132,349 |
GSE residential collateralized mortgage obligations (CMOs) | 0 |  |  | 15,843 |  |  | 0 |  |  | 15,843 |
GSE commercial CMOs | 0 |  |  | 63,770 |  |  | 0 |  |  | 63,770 |
Private label CMOs | 0 |  |  | 8,901 |  |  | 0 |  |  | 8,901 |
Total debt securities | 0 |  |  | 394,051 |  |  | 0 |  |  | 394,051 |
Equity securities - financial services | 0 |  |  | 73 |  |  | 0 |  |  | 73 |
Total securities | $ | 0 |  |  | $ | 394,124 |  |  | $ | 0 |  |  | $ | 394,124 |
Summary of Additional Qualitative Information | The following table presents additional qualitative information about assets measured on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value:
(Dollars in thousands) | Fair Value Estimate |  | Valuation Techniques |  | Unobservable Input |  | Range
March 31, 2016 |  |  |  |  |  |  |
Impaired loans | $ | 4,850 |  |  | Appraisal of collateral |  | Management adjustments on appraisals for property type and recent activity |  | 0% - 60% discount
|  |  |  |  | Management adjustments for liquidation expenses |  | 6% - 44% discount
Foreclosed real estate | 265 |  |  | Appraisal of collateral |  | Management adjustments on appraisals for property type and recent activity |  | 10% - 20% discount
|  |  |  |  | Management adjustments for liquidation expenses |  | 5% - 6% discount
December 31, 2015 |  |  |  |  |  |  |
Impaired loans | $ | 4,757 |  |  | Appraisal of collateral |  | Management adjustments on appraisals for property type and recent activity |  | 0% - 70% discount
|  |  |  |  | Management adjustments for liquidation expenses |  | 6% - 44% discount
Foreclosed real estate | 175 |  |  | Appraisal of collateral |  | Management adjustments on appraisals for property type and recent activity |  | 10% - 20% discount
|  |  |  |  | Management adjustments for liquidation expenses |  | 5% - 6% discount
Summary of Assets Measured at Fair Value on Nonrecurring Basis | A summary of assets at March 31, 2016 and December 31, 2015, measured at estimated fair value on a nonrecurring basis was as follows:
(Dollars in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value Measurements
March 31, 2016 |  |  |  |  |  |  |
Impaired Loans |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |
Owner-occupied | $ | 0 |  |  | $ | 0 |  |  | $ | 836 |  |  | $ | 836 |
Non-owner occupied | 0 |  |  | 0 |  |  | 736 |  |  | 736 |
Multi-family | 0 |  |  | 0 |  |  | 225 |  |  | 225 |
Non-owner occupied residential | 0 |  |  | 0 |  |  | 507 |  |  | 507 |
Acquisition and development: |  |  |  |  |  |  |
Commercial and land development | 0 |  |  | 0 |  |  | 3 |  |  | 3 |
Residential mortgage: |  |  |  |  |  |  |
First lien | 0 |  |  | 0 |  |  | 2,340 |  |  | 2,340 |
Home equity - lines of credit | 0 |  |  | 0 |  |  | 194 |  |  | 194 |
Installment and other loans | 0 |  |  | 0 |  |  | 9 |  |  | 9 |
Impaired loans, net | $ | 0 |  |  | $ | 0 |  |  | $ | 4,850 |  |  | $ | 4,850 |
Foreclosed real estate |  |  |  |  |  |  |
Residential | $ | 0 |  |  | $ | 0 |  |  | $ | 186 |  |  | $ | 186 |
Commercial and land development | 0 |  |  | 0 |  |  | 79 |  |  | 79 |
Total foreclosed real estate | $ | 0 |  |  | $ | 0 |  |  | $ | 265 |  |  | $ | 265 |
December 31, 2015 |  |  |  |  |  |  |
Impaired Loans |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |
Owner-occupied | $ | 0 |  |  | $ | 0 |  |  | $ | 881 |  |  | $ | 881 |
Non-owner occupied | 0 |  |  | 0 |  |  | 736 |  |  | 736 |
Multi-family | 0 |  |  | 0 |  |  | 233 |  |  | 233 |
Non-owner occupied residential | 0 |  |  | 0 |  |  | 570 |  |  | 570 |
Acquisition and development: |  |  |  |  |  |  |
Commercial and land development | 0 |  |  | 0 |  |  | 5 |  |  | 5 |
Residential mortgage: |  |  |  |  |  |  |
First lien | 0 |  |  | 0 |  |  | 2,094 |  |  | 2,094 |
Home equity - lines of credit | 0 |  |  | 0 |  |  | 229 |  |  | 229 |
Installment and other loans | 0 |  |  | 0 |  |  | 9 |  |  | 9 |
Impaired loans, net | $ | 0 |  |  | $ | 0 |  |  | $ | 4,757 |  |  | $ | 4,757 |
Foreclosed real estate |  |  |  |  |  |  |
Residential | $ | 0 |  |  | $ | 0 |  |  | $ | 101 |  |  | $ | 101 |
Commercial and land development | 0 |  |  | 0 |  |  | 74 |  |  | 74 |
Total foreclosed real estate | $ | 0 |  |  | $ | 0 |  |  | $ | 175 |  |  | $ | 175 |
Financial Instruments at Estimated Fair Values | The estimated fair values of the Company’s financial instruments were as follows at March 31, 2016 and December 31, 2015:
(Dollars in thousands) | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
March 31, 2016 |  |  |  |  |  |  |  |  |
Financial Assets |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 12,281 |  |  | $ | 12,281 |  |  | $ | 12,281 |  |  | $ | 0 |  |  | $ | 0 |
Interest bearing deposits with banks | 54,634 |  |  | 54,634 |  |  | 54,634 |  |  | 0 |  |  | 0 |
Restricted investments in bank stocks | 6,270 |  |  | n/a |  |  | n/a |  |  | n/a |  |  | n/a |
Securities available for sale | 327,590 |  |  | 327,590 |  |  | 0 |  |  | 327,590 |  |  | 0 |
Loans held for sale | 3,499 |  |  | 3,595 |  |  | 0 |  |  | 3,595 |  |  | 0 |
Loans, net of allowance for loan losses | 791,356 |  |  | 810,260 |  |  | 0 |  |  | 0 |  |  | 810,260 |
Accrued interest receivable | 3,582 |  |  | 3,582 |  |  | 0 |  |  | 1,709 |  |  | 1,873 |
Financial Liabilities |  |  |  |  |  |  |  |  |
Deposits | 1,048,376 |  |  | 1,055,702 |  |  | 0 |  |  | 1,055,702 |  |  | 0 |
Short-term borrowings | 62,693 |  |  | 62,693 |  |  | 0 |  |  | 62,693 |  |  | 0 |
Long-term debt | 24,413 |  |  | 25,259 |  |  | 0 |  |  | 25,259 |  |  | 0 |
Accrued interest payable | 376 |  |  | 376 |  |  | 0 |  |  | 376 |  |  | 0 |
Off-balance sheet instruments | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |
December 31, 2015 |  |  |  |  |  |  |  |  |
Financial Assets |  |  |  |  |  |  |  |  |
Cash and due from banks | $ | 11,412 |  |  | $ | 11,412 |  |  | $ | 11,412 |  |  | $ | 0 |  |  | $ | 0 |
Interest bearing deposits with banks | 16,928 |  |  | 16,928 |  |  | 16,928 |  |  | 0 |  |  | 0 |
Restricted investments in bank stocks | 8,720 |  |  | n/a |  |  | n/a |  |  | n/a |  |  | n/a |
Securities available for sale | 394,124 |  |  | 394,124 |  |  | 0 |  |  | 394,124 |  |  | 0 |
Loans held for sale | 5,917 |  |  | 6,045 |  |  | 0 |  |  | 6,045 |  |  | 0 |
Loans, net of allowance for loan losses | 768,145 |  |  | 776,067 |  |  | 0 |  |  | 0 |  |  | 776,067 |
Accrued interest receivable | 3,845 |  |  | 3,845 |  |  | 0 |  |  | 2,257 |  |  | 1,588 |
Financial Liabilities |  |  |  |  |  |  |  |  |
Deposits | 1,032,167 |  |  | 1,032,265 |  |  | 0 |  |  | 1,032,265 |  |  | 0 |
Short-term borrowings | 89,156 |  |  | 89,156 |  |  | 0 |  |  | 89,156 |  |  | 0 |
Long-term debt | 24,495 |  |  | 25,357 |  |  | 0 |  |  | 25,357 |  |  | 0 |
Accrued interest payable | 366 |  |  | 366 |  |  | 0 |  |  | 366 |  |  | 0 |
Off-balance sheet instruments | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |

X
- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + 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 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
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 assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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 2 -Subparagraph (b) -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 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
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