Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

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
March 31, 2016
Measured on a recurring basis:
Securities available for sale:
U.S. Government agencies and government sponsored enterprises	$	-	$	241,463	$	-	$	241,463
Mortgage-backed securities		-		368,371		-		368,371
Asset-backed securities		-		179		-		179
	$	-	$	610,013	$	-	$	610,013
Measured on a nonrecurring basis:
Loans:
Loans held for sale	$	-	$	609	$	-	$	609
Collateral dependent impaired loans		-		-		1,263		1,263
Other assets:
Loan servicing rights		-		-		1,222		1,222
Other real estate owned		-		-		187		187
	$	-	$	609	$	2,672	$	3,281

December 31, 2015
Measured on a recurring basis:
Securities available for sale:
U.S. Government agencies and government sponsored enterprises	$	-	$	260,863	$	-	$	260,863
Mortgage-backed securities		-		283,314		-		283,314
Asset-backed securities		-		218		-		218
	$	-	$	544,395	$	-	$	544,395
Measured on a nonrecurring basis:
Loans:
Loans held for sale	$	-	$	1,430	$	-	$	1,430
Collateral dependent impaired loans		-		-		1,485		1,485
Other assets:
Loan servicing rights		-		-		1,241		1,241
Other real estate owned		-		-		163		163
	$	-	$	1,430	$	2,889	$	4,319

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	$	1,263	Appraisal of collateral ⁽¹⁾	Appraisal adjustments ⁽²⁾	0% - 50% discount

Loan servicing rights		1,222	Discounted cash flow	Discount rate	4.7% ⁽³⁾
				Constant prepayment rate	14.9% ⁽³⁾

Other real estate owned		187	Appraisal of collateral ⁽¹⁾	Appraisal adjustments ⁽²⁾	39% - 48% 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		March 31, 2016				December 31, 2015
	Fair Value				Estimated				Estimated
	Measurement		Carrying		Fair		Carrying		Fair
	Hierarchy		Amount		Value		Amount		Value
Financial assets:
Cash and cash equivalents	Level 1	$	110,944	$	110,944	$	60,121	$	60,121
Securities available for sale	Level 2		610,013		610,013		544,395		544,395
Securities held to maturity	Level 2		476,283		485,863		485,717		490,064
Loans held for sale	Level 2		609		609		1,430		1,430
Loans	Level 2		2,086,203		2,092,237		2,055,192		2,046,235
Loans ⁽¹⁾	Level 3		1,263		1,263		1,485		1,485
Accrued interest receivable	Level 1		10,181		10,181		8,609		8,609
FHLB and FRB stock	Level 2		14,865		14,865		19,991		19,991

Financial liabilities:
Non-maturity deposits	Level 1		2,282,747		2,282,747		2,093,513		2,093,513
Time deposits	Level 2		677,430		674,410		637,018		636,159
Short-term borrowings	Level 1		179,200		179,200		293,100		293,100
Long-term borrowings	Level 2		39,008		37,566		38,990		40,313
Accrued interest payable	Level 1		5,495		5,495		4,676		4,676

⁽¹⁾Comprised of collateral dependent impaired loans.