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Fair value estimates (Tables)

6 Months Ended

Jun. 30, 2016

Fair value estimates

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
June 30, 2016		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Government-sponsored enterprises		$	58,745		$			$	58,745		$
State and Municipals:
Taxable			15,949						15,949
Tax-exempt			123,155						123,155
Mortgage-backed securities:
U.S. Government agencies			26,054						26,054
U.S. Government-sponsored enterprises			27,479						27,479
Total		$	251,382		$			$	251,382		$

		Fair Value Measurement Using
					Quoted Prices in			Significant			Significant
					Active Markets for			Other Observable			Unobservable
					Identical Assets			Inputs			Inputs
December 31, 2015		Amount			(Level 1)			(Level 2)			(Level 3)
U.S. Treasury securities		$	9,999		$	9,999					$
U.S. Government-sponsored enterprises			69,060					$	69,060
State and Municipals:
Taxable			16,545						16,545
Tax-exempt			124,924						124,924
Mortgage-backed securities:
U.S. Government agencies			31,568						31,568
U.S. Government-sponsored enterprises			32,839						32,839
Total		$	284,935		$	9,999		$	274,936		$

Schedule of Assets and Liabilities Measured at Fair Value on Nonrecurring Basis

Fair Value Measurement Using

Quoted Prices in

Significant

Significant

Active Markets for

Other Observable

Unobservable

Identical Assets

Inputs

Inputs

June 30, 2016

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

5,801

$

5,801

Other real estate owned

$

1,256

$

1,256

Fair Value Measurement Using

Quoted Prices in

Significant Other

Significant

Active Markets for

Observable

Unobservable

Identical Assets

Inputs

Inputs

December 31, 2015

Amount

(Level 1)

(Level 2)

(Level 3)

Impaired loans

$

4,944

$

4,944

Other real estate owned

$

878

$

878

Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis

		Quantitative Information about Level 3 Fair Value Measurements
		Fair Value							Range
June 30, 2016		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	5,801		Appraisal of collateral		Appraisal adjustments		13.5% to 94.0% (62.4)%
							Liquidation expenses		3.0% to 6.0% (5.3)%
Other real estate owned		$	1,256		Appraisal of collateral		Appraisal adjustments		20.0% to 54.1% (35.9)%
							Liquidation expenses		3.0% to 6.0% (5.0)%

		Quantitative Information about Level 3 Fair Value Measurements
		Fair Value							Range
December 31, 2015		Estimate			Valuation Techniques		Unobservable Input		(Weighted Average)
Impaired loans		$	4,944		Appraisal of collateral		Appraisal adjustments		3.3% to 97.0% (61.7)%
							Liquidation expenses		3.0% to 6.0% (5.4)%
Other real estate owned		$	878		Appraisal of collateral		Appraisal adjustments		20.0% to 77.3% (30.3)%
							Liquidation expenses		3.0% to 6.0% (5.0)%

Carrying and Fair Values of Financial Instruments

								Fair Value Hierarchy
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
June 30, 2016		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and cash equivalents		$	30,077		$	30,077		$	30,077
Investment securities:
Available-for-sale			251,382			251,382					$	251,382
Held-to-maturity			11,262			12,065						12,065
Loans held for sale
Net loans			1,450,009			1,465,095								$	1,465,095
Accrued interest receivable			5,952			5,952						5,952
Mortgage servicing rights			489			1,543						1,543
Restricted equity securities			6,878			6,878						6,878
Total		$	1,756,049		$	1,772,992
Financial liabilities:
Deposits		$	1,496,863		$	1,499,201						1,499,201
Short-term borrowings			86,300			86,282						86,282
Long-term debt			59,232			61,334						61,334
Accrued interest payable			453			453					$	453
Total		$	1,642,848		$	1,647,270

								Fair Value Hierarchy
								Quoted
								Prices in
								Active			Significant
								Markets for			Other			Significant
								Identical			Observable			Unobservable
		Carrying			Fair			Assets			Inputs			Inputs
December 31, 2015		Value			Value			(level 1)			(level 2)			(Level 3)
Financial assets:
Cash and cash equivalents		$	32,917		$	32,917		$	32,917
Investment securities:
Available-for-sale			284,935			284,935		$	9,999		$	274,936
Held-to-maturity			12,109			12,606						12,606
Loans held for sale
Net loans			1,327,890			1,330,900								$	1,330,900
Accrued interest receivable			5,796			5,796						5,796
Mortgage servicing rights			465			1,543						1,543
Restricted equity securities			5,403			5,403						5,403
Total		$	1,669,515		$	1,674,100
Financial liabilities:
Deposits		$	1,455,810		$	1,455,979						1,455,979
Short-term borrowings			38,325			38,325						38,325
Long-term debt			60,354			61,412						61,412
Accrued interest payable			560			560					$	560
Total		$	1,555,049		$	1,556,276

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
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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

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-Publisher FASB
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Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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

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