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