Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Assets Measured At Fair Value On A Recurring And Non-Recurring Basis


		Quoted Prices
		in Active
		Markets for		Significant
		Identical		Other		Significant
		Assets or		Observable		Unobservable
		Liabilities		Inputs		Inputs
		(Level 1)		(Level 2)		(Level 3)		Total
June 30, 2015
Measured on a recurring basis:
Securities available for sale:
U.S. Government agencies and government sponsored enterprises	$	-	$	270,077	$	-	$	270,077
Mortgage-backed securities		-		502,337		-		502,337
Asset-backed securities		-		225		-		225
	$	-	$	772,639	$	-	$	772,639
Measured on a nonrecurring basis:
Loans:
Loans held for sale	$	-	$	448	$	-	$	448
Collateral dependent impaired loans		-		-		3,252		3,252
Other assets:
Loan servicing rights		-		-		1,289		1,289
Other real estate owned		-		-		165		165
	$	-	$	448	$	4,706	$	5,154

December 31, 2014
Measured on a recurring basis:
Securities available for sale:
U.S. Government agencies and government sponsored enterprises	$	-	$	160,475	$	-	$	160,475
Mortgage-backed securities		-		461,788		-		461,788
Asset-backed securities		-		231		-		231
	$	-	$	622,494	$	-	$	622,494
Measured on a nonrecurring basis:
Loans:
Loans held for sale	$	-	$	755	$	-	$	755
Collateral dependent impaired loans		-		-		2,652		2,652
Other assets:
Loan servicing rights		-		-		1,359		1,359
Other real estate owned		-		-		194		194
	$	-	$	755	$	4,205	$	4,960

Additional Quantitative Information About Assets Measured At Fair Value On A Recurring And Non-Recurring Basis


		Fair			Unobservable Input
Asset		Value	Valuation Technique	Unobservable Input	Value or Range
Collateral dependent impaired loans	$	3,252	Appraisal of collateral ⁽¹⁾	Appraisal adjustments ⁽²⁾	0% - 100% discount
			Discounted cash flow	Discount rate	4.4 %	⁽³⁾
				Risk premium rate	10.0 %	⁽³⁾

Loan servicing rights		1,289	Discounted cash flow	Discount rate	5.1 %	⁽³⁾
				Constant prepayment rate	12.9 %	⁽³⁾

Other real estate owned		165	Appraisal of collateral ⁽¹⁾	Appraisal adjustments ⁽²⁾	19% - 53 % discount

⁽¹⁾Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable.

⁽²⁾Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.

⁽³⁾Weighted averages.

Carrying Amount, Estimated Fair Value, And Placement In Fair Value Hierarchy Of Financial Instruments


	Level in		June 30, 2015				December 31, 2014
	Fair Value				Estimated				Estimated
	Measurement		Carrying		Fair		Carrying		Fair
	Hierarchy		Amount		Value		Amount		Value
Financial assets:
Cash and cash equivalents	Level 1	$	52,554	$	52,554	$	58,151	$	58,151
Securities available for sale	Level 2		772,639		772,639		622,494		622,494
Securities held to maturity	Level 2		320,820		324,873		294,438		298,695
Loans held for sale	Level 2		448		448		755		755
Loans	Level 2		1,978,521		1,987,842		1,881,713		1,887,959
Loans ⁽¹⁾	Level 3		3,252		3,252		2,652		2,652
Accrued interest receivable	Level 1		8,623		8,623		8,104		8,104
FHLB and FRB stock	Level 2		21,558		21,558		19,014		19,014

Financial liabilities:
Non-maturity deposits	Level 1		2,043,219		2,043,219		1,857,285		1,857,285
Time deposits	Level 2		613,019		614,066		593,242		593,793
Short-term borrowings	Level 1		350,600		350,600		334,804		334,804
Long-term borrowings	Level 2		38,955		38,555		-		-

Accrued interest payable	Level 1		5,101		5,101		3,862		3,862

⁽¹⁾Comprised of collateral dependent impaired loans.