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Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured on Recurring Basis

The following tables present the balances of assets and liabilities measured on a recurring basis as of December 31, 2013 and 2012 aggregated by the level in the fair value hierarchy in which these measurements fall.

(dollars in thousands)		December 31, 2013				Level 1				Level 2				Level 3
Available for sale securities:
U.S. agency mortgage-backed		$	96,785			$	—			$	96,785			$	—
Non-U.S. agency mortgage-backed			9,749				—				9,749				—
Municipal bonds			19,799				—				19,799				—
U.S. government agency			23,299				—				23,299				—
Total		$	149,632			$	—			$	149,632			$	—

(dollars in thousands)		December 31, 2012				Level 1				Level 2				Level 3
Available for sale securities:
U.S. agency mortgage-backed		$	102,513			$	—			$	102,513			$	—
Non-U.S. agency mortgage-backed			12,668				—				12,668				—
Municipal bonds			17,585				—				17,585				—
U.S. government agency			24,490				—				24,490				—
Total		$	157,256			$	—			$	157,256			$	—

Summary of Financial Assets and Liabilities Measured at Fair Value on Nonrecurring Basis

The Company has segregated all financial assets and liabilities that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below.

						Fair Value Measurements Using
(dollars in thousands)		December 31, 2013				Level 1				Level 2				Level 3
Assets
Acquired loans with deteriorated credit quality		$	26,220			$	—			$	—			$	26,220
Acquired loans without deteriorated credit quality			85,732				—				—				85,732
Impaired loans excluding acquired loans			2,099				—				—				2,099
Repossessed assets			4,566				—				—				4,566
FDIC loss sharing receivable			12,698				—				—				12,698
Total		$	131,315			$	—			$	—			$	131,315
Liabilities
Deposits acquired through business combinations		$	39,010			$	—			$	—			$	39,010
FHLB advances acquired through business combinations			—				—				—				—
Total		$	39,010			$	—			$	—			$	39,010

						Fair Value Measurements Using
(dollars in thousands)		December 31, 2012				Level 1				Level 2				Level 3
Assets
Acquired loans with deteriorated credit quality		$	50,854			$	—			$	—			$	50,854
Acquired loans without deteriorated credit quality			117,536				—				—				117,536
Impaired loans excluding acquired loans			5,353				—				—				5,353
Repossessed assets			6,454				—				—				6,454
FDIC loss sharing receivable			15,546				—				—				15,546
Total		$	195,743			$	—			$	—			$	195,743
Liabilities
Deposits acquired through business combinations		$	81,948			$	—			$	—			$	81,948
FHLB advances acquired through business combinations			18,257				—				—				18,257
Total		$	100,205			$	—			$	—			$	100,205

Summary of Fair Values of Company's Financial Instruments

The fair value of off-balance sheet financial instruments as of December 31, 2013 and 2012 was immaterial.

						Fair Value Measurements at December 31, 2013
		Carrying Amount				Total				Level 1				Level 2				Level 3
(dollars in thousands)
Financial Assets
Cash and cash equivalents		$	32,639			$	32,639			$	32,639			$	—			$	—
Interest-bearing deposits in banks			2,940				2,940				2,940				—				—
Investment securities available for sale			149,632				149,632				—				149,632				—
Investment securities held to maturity			9,405				9,275				—				9,275				—
Mortgage loans held for sale			1,951				1,951				—				1,951				—
Loans, net			700,538				708,863				—				—				708,863
Cash surrender value of BOLI			17,751				17,751				17,751				—				—
FDIC loss sharing receivable			12,698				12,698				—				—				12,698
Financial Liabilities
Deposits		$	741,312			$	702,168			$	—			$	663,158			$	39,010
Short-term FHLB advances			87,000				87,000				87,000				—				—
Long-term FHLB advances			10,000				10,613				—				10,613				—

						Fair Value Measurements at December 31, 2012
(dollars in thousands)		Carrying Amount				Total				Level 1				Level 2				Level 3
	Financial Assets
Cash and cash equivalents		$	39,539			$	39,539			$	39,529			$	—			$	—
Interest-bearing deposits in banks			3,529				3,529				3,529				—				—
Investment securities available for sale			157,256				157,256				—				157,256				—
Investment securities held to maturity			1,665				1,746				—				1,746				—
Mortgage loans held for sale			5,627				5,627				—				5,627				—
Loans, net			667,809				676,622				—				—				676,622
Cash surrender value of BOLI			17,286				17,286				17,286				—				—
FDIC loss sharing receivable			15,546				15,546				—				—				15,546
Financial Liabilities
Deposits		$	771,429			$	774,325			$	—			$	692,377			$	81,948
Short-term FHLB advances			10,000				10,000				10,000				—				—
Long-term FHLB advances			36,257				37,619				—				19,362				18,257

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 5

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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.

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-Publisher FASB

-Name Accounting Standards Codification

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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

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