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Note 12 - Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

(dollars in thousands)		Quoted Prices (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)				Total (Fair Value)
March 31, 2017
Assets:
Investment securities available for sale:
U. S. agency securities		$	-			$	147,908			$	-			$	147,908
Residential mortgage backed securities			-				296,925				-				296,925
Municipal bonds			-				44,609				-				44,609
Corporate bonds			-				8,647				1,500				10,147
Other equity investments			-				-				218				218
Loans held for sale			-				29,567				-				29,567
Mortgage banking derivatives			-				-				93				93
Interest rate swap derivatives			-				486				-				486
Total assets measured at fair value on a recurring basis as of March 31, 2017		$	-			$	528,142			$	1,811			$	529,953
Liabilities:
Mortgage banking derivatives		$	-			$	-			$	71			$	71
Interest rate swap derivatives			-				23				-				23
Total liabilities measured at fair value on a recurring basis as of March 31, 2017		$	-			$	23			$	71			$	94
December 31, 2016
Assets:
Investment securities available for sale:
U. S. agency securities		$	-			$	106,142			$	-			$	106,142
Residential mortgage backed securities			-				326,239				-				326,239
Municipal bonds			-				95,930				-				95,930
Corporate bonds			-				8,079				1,500				9,579
Other equity investments			-				-				218				218
Loans held for sale			-				51,629				-				51,629
Mortgage banking derivatives			-				-				114				114
Total assets measured at fair value on a recurring basis as of December 31, 2016		$	-			$	588,019			$	1,832			$	589,851
Liabilities:
Mortgage banking derivatives		$	-			$	-			$	55			$	55
Interest rate swap derivatives			-				692				-				692
Total liabilities measured at fair value on a recurring basis as of December 31, 2016		$	-			$	692			$	55			$	747

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

		Investment				Mortgage Banking
(dollars in thousands)		Securities				Derivatives				Total
Assets:
Beginning balance at January 1, 2017		$	1,718			$	114			$	1,832
Realized loss included in earnings - net mortgage banking derivatives			-				(21	)			(21	)
Purchases of available-for-sale securities			-				-				-
Principal redemption			-				-				-
Ending balance at March 31, 2017		$	1,718			$	93			$	1,811
Liabilities:
Beginning balance at January 1, 2017		$	-			$	55			$	55
Realized loss included in earnings - net mortgage banking derivatives			-				16				16
Principal redemption			-				-				-
Ending balance at March 31, 2017		$	-			$	71			$	71

		Investment				Mortgage Banking
(dollars in thousands)		Securities				Derivatives				Total
Assets:
Beginning balance at January 1, 2016		$	219			$	24			$	243
Realized gain included in earnings - net mortgage banking derivatives			-				90				90
Purchases of available-for-sale securities			1,500				-				1,500
Principal redemption			(1	)			-				(1	)
Ending balance at December 31, 2016		$	1,718			$	114			$	1,832
Liabilities:
Beginning balance at January 1, 2016		$	-			$	30			$	30
Realized loss included in earnings - net mortgage banking derivatives			-				25				25
Principal redemption			-				-				-
Ending balance at December 31, 2016		$	-			$	55			$	55

Fair Value Measurements, Nonrecurring [Table Text Block]

(dollars in thousands)		Quoted Prices (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)				Total (Fair Value)
March 31, 2017
Impaired loans:
Commercial		$	-			$	-			$	2,550			$	2,550
Income producing - commercial real estate			-				-				8,531				8,531
Owner occupied - commercial real estate			-				-				2,648				2,648
Real estate mortgage - residential			-				-				310				310
Construction - commercial and residential			-				-				2,905				2,905
Other consumer			-				-				44				44
Other real estate owned			-				-				1,394				1,394
Total assets measured at fair value on a nonrecurring basis as of March 31, 2017		$	-			$	-			$	18,382			$	18,382

(dollars in thousands)		Quoted Prices (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Other Unobservable Inputs (Level 3)				Total (Fair Value)
December 31, 2016
Impaired loans:
Commercial		$	-			$	-			$	2,956			$	2,956
Income producing - commercial real estate			-				-				12,993				12,993
Owner occupied - commercial real estate			-				-				2,133				2,133
Real estate mortgage - residential			-				-				555				555
Construction - commercial and residential			-				-				1,550				1,550
Other consumer			-				-				13				13
Other real estate owned			-				-				2,694				2,694
Total assets measured at fair value on a nonrecurring basis as of December 31, 2016		$	-			$	-			$	22,894			$	22,894

Fair Value, by Balance Sheet Grouping [Table Text Block]

										Fair Value Measurements
										Quoted Prices in Active Markets for Identical Assets or Liabilities				Significant Other Observable Inputs				Significant Unobservable Inputs
(dollars in thousands)		Carrying Value				Fair Value				(Level 1)				(Level 2)				(Level 3)
March 31, 2017
Assets
Cash and due from banks		$	11,899			$	11,899			$	-			$	11,899			$	-
Federal funds sold			3,222				3,222				-				3,222				-
Interest bearing deposits with other banks			464,061				464,061				-				464,061				-
Investment securities			499,807				499,807				-				498,089				1,718
Federal Reserve and Federal Home Loan Bank stock			25,573				25,573				-				25,573				-
Loans held for sale			29,567				29,567				-				29,567				-
Loans			5,824,946				5,831,920				-				-				5,831,920
Bank owned life insurance			60,496				60,496				-				60,496				-
Annuity investment			11,800				11,800				-				11,800				-
Mortgage banking derivatives			93				93				-				-				93
Interst rate swap derivatives			486				486.00				-				486				-
Liabilities
Noninterest bearing deposits			1,831,837				1,831,837				-				1,831,837				-
Interest bearing deposits			3,166,977				3,166,977				-				3,166,977				-
Certificates of deposit			790,675				787,461				-				787,461				-
Customer repurchase agreements			82,160				82,160				-				82,160				-
Borrowings			291,612				279,756				-				279,756				-
Mortgage banking derivatives			71				71				-				-				71
Interest rate swap derivatives			23				23				-				23				-
December 31, 2016
Assets
Cash and due from banks		$	10,285			$	10,285			$	-			$	10,285			$	-
Federal funds sold			2,397				2,397				-				2,397				-
Interest bearing deposits with other banks			355,481				355,481				-				355,481				-
Investment securities			538,108				538,108				-				536,390				1,718
Federal Reserve and Federal Home Loan Bank stock			21,600				21,600				-				21,600				-
Loans held for sale			51,629				51,629				-				51,629				-
Loans			5,677,893				5,683,158				-				-				5,683,158
Bank owned life insurance			60,130				60,130				-				60,130				-
Annuity investment			11,929				11,929				-				11,929				-
Mortgage banking derivatives			114				114				-				-				114
Liabilities
Noninterest bearing deposits			1,775,684				1,775,684				-				1,775,684				-
Interest bearing deposits			3,191,682				3,191,682				-				3,191,682				-
Certificates of deposit			748,748				745,985				-				745,985				-
Customer repurchase agreements			68,876				68,876				-				68,876				-
Borrowings			216,514				203,657				-				203,657				-
Mortgage banking derivatives			55				55				-				-				55
Interest rate swap derivatives			692				692				-				692				-

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).

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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).

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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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