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Fair Value Disclosures and Reporting, the Fair Value Option and Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2016
Fair Value Disclosures [Abstract]  
Schedule of carrying amount and estimated fair values of financial instruments
Fair Value of Financial Instruments
(dollars in thousands, unaudited)
 
 
 
June 30, 2016
 
 
 
 
 
 
Estimated Fair Value
 
 
 
Carrying
Amount
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant
Observable 
Inputs
(Level 2)
 
Significant
Unobservable 
Inputs
(Level 3)
 
Total
 
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
53,041
 
$
53,041
 
$
-
 
$
-
 
$
53,041
 
Investment securities available for sale
 
 
528,539
 
 
1,127
 
 
527,412
 
 
-
 
 
528,539
 
Loans and leases, net held for investment
 
 
1,145,888
 
 
-
 
 
1,172,194
 
 
-
 
 
1,172,194
 
Collateral dependent impaired loans
 
 
1,983
 
 
-
 
 
1,983
 
 
-
 
 
1,983
 
Loans held-for-sale
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Cash surrender value of life insurance policies
 
 
43,829
 
 
-
 
 
43,829
 
 
-
 
 
43,829
 
Other investments
 
 
7,945
 
 
-
 
 
7,945
 
 
-
 
 
7,945
 
Investment in limited partnership
 
 
8,568
 
 
-
 
 
8,568
 
 
-
 
 
8,568
 
Accrued interest receivable
 
 
5,697
 
 
-
 
 
5,697
 
 
-
 
 
5,697
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Noninterest-bearing
 
$
433,328
 
$
433,328
 
$
-
 
$
-
 
$
433,328
 
Interest-bearing
 
 
1,052,746
 
 
-
 
 
929,491
 
 
-
 
 
929,491
 
Fed funds purchased and repurchase agreements
 
 
14,294
 
 
-
 
 
14,294
 
 
-
 
 
14,294
 
Short-term borrowings
 
 
93,700
 
 
-
 
 
93,700
 
 
-
 
 
93,700
 
Long-term borrowings
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Subordinated debentures
 
 
30,928
 
 
-
 
 
8,847
 
 
-
 
 
8,847
 
Limited partnership capital commitment
 
 
3,070
 
 
-
 
 
3,070
 
 
-
 
 
3,070
 
Accrued interest payable
 
 
128
 
 
-
 
 
128
 
 
-
 
 
128
 
 
 
 
 
December 31, 2015
 
 
 
 
 
 
Estimated Fair Value
 
 
 
Carrying
Amount
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant
Observable 
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Total
 
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
48,623
 
$
48,623
 
$
-
 
$
-
 
$
48,623
 
Investment securities available for sale
 
 
507,582
 
 
1,296
 
 
506,286
 
 
-
 
 
507,582
 
Loans and leases, net held for investment
 
 
1,120,773
 
 
-
 
 
1,136,386
 
 
-
 
 
1,136,386
 
Collateral dependent impaired loans
 
 
3,829
 
 
-
 
 
3,829
 
 
-
 
 
3,829
 
Cash surrender value of life insurance policies
 
 
44,140
 
 
-
 
 
44,140
 
 
-
 
 
44,140
 
Other Investments
 
 
7,546
 
 
-
 
 
7,546
 
 
-
 
 
7,546
 
Investment in limited partnership
 
 
6,217
 
 
-
 
 
6,217
 
 
-
 
 
6,217
 
Accrued interest receivable
 
 
5,808
 
 
-
 
 
5,808
 
 
-
 
 
5,808
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Noninterest-bearing
 
$
432,251
 
$
432,251
 
$
-
 
$
-
 
$
432,251
 
Interest-bearing
 
 
1,032,377
 
 
-
 
 
1,032,547
 
 
-
 
 
1,032,547
 
Fed funds purchased and repurchase agreements
 
 
9,405
 
 
-
 
 
9,405
 
 
-
 
 
9,405
 
Short-term borrowings
 
 
75,300
 
 
-
 
 
75,300
 
 
-
 
 
75,300
 
Long-term borrowings
 
 
2,000
 
 
-
 
 
2,001
 
 
-
 
 
2,001
 
Subordinated debentures
 
 
30,928
 
 
-
 
 
7,383
 
 
-
 
 
7,383
 
Limited partnership capital commitment
 
 
795
 
 
-
 
 
795
 
 
-
 
 
795
 
Accrued interest payable
 
 
116
 
 
-
 
 
116
 
 
-
 
 
116
 
Schedule of off-balance-sheet financial instruments
 
 
Notional Amount
 
Off-balance-sheet financial instruments:
 
 
 
 
Commitments to extend credit
 
$
325,357
 
Standby letters of credit
 
 
8,990
 
 
 
 
Notional Amount
 
Off-balance-sheet financial instruments:
 
 
 
 
Commitments to extend credit
 
$
354,890
 
Standby letters of credit
 
 
16,654
 
Schedule of assets reported at fair value on a recurring basis
Fair Value Measurements - Recurring
(dollars in thousands, unaudited)
 
 
 
Fair Value Measurements at June 30, 2016, using
 
 
 
 
 
 
Quoted Prices in
 
Significant
 
Significant
 
 
 
 
 
 
 
 
 
Active Markets for
 
Observable
 
Unobservable
 
 
 
 
 
 
 
 
 
Identical Assets
 
Inputs
 
Inputs
 
 
 
 
Realized
 
 
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Gain/(Loss)
 
Investment securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
US Government agencies
 
$
-
 
$
24,872
 
$
-
 
$
24,872
 
$
-
 
Mortgage-backed securities
 
 
-
 
 
394,614
 
 
-
 
 
394,614
 
 
-
 
State and poltical subdivisions
 
 
-
 
 
107,926
 
 
-
 
 
107,926
 
 
-
 
Other securities
 
 
1,127
 
 
-
 
 
-
 
 
1,127
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total available-for-sale securities
 
$
1,127
 
$
527,412
 
$
-
 
$
528,539
 
$
-
 
 
 
 
Fair Value Measurements at December 31, 2015, using
 
 
 
 
 
 
Quoted Prices in
 
Significant
 
Significant
 
 
 
 
 
 
 
 
Active Markets for
 
Observable
 
Unobservable
 
 
 
 
 
 
 
 
 
Identical Assets
 
Inputs
 
Inputs
 
 
 
 
Realized
 
 
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Gain/(Loss)
 
Investment securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
US Government agencies
 
$
-
 
$
29,042
 
$
-
 
$
29,042
 
$
-
 
Mortgage-backed securities
 
 
-
 
 
375,061
 
 
-
 
 
375,061
 
 
-
 
State and poltical subdivisions
 
 
-
 
 
102,183
 
 
-
 
 
102,183
 
 
-
 
Other securities
 
 
1,296
 
 
-
 
 
-
 
 
1,296
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total available-for-sale securities
 
$
1,296
 
$
506,286
 
$
-
 
$
507,582
 
$
-
 
Schedule of assets reported at fair value on a nonrecurring basis
Fair Value Measurements - Nonrecurring
(dollars in thousands, unaudited)
 
 
 
Fair Value Measurements at June 30, 2016, using
 
 
 
Quoted Prices in Active
 
Significant
 
Significant
 
 
 
 
 
 
Markets for
 
Observable Inputs
 
Unobservable Inputs
 
 
 
 
 
 
Identical Assets (Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Impaired loans
 
 
 
 
 
 
 
 
 
 
 
 
 
Real Estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
1-4 family residential construction
 
$
-
 
$
-
 
$
-
 
$
-
 
Other construction/land
 
 
-
 
 
75
 
 
-
 
 
75
 
1-4 family - closed-end
 
 
-
 
 
-
 
 
-
 
 
-
 
Equity lines
 
 
-
 
 
-
 
 
-
 
 
-
 
Multi-family residential
 
 
-
 
 
-
 
 
-
 
 
-
 
Commercial real estate - owner occupied
 
 
-
 
 
20
 
 
-
 
 
20
 
Commercial real estate-non-owner occupied
 
 
-
 
 
1,845
 
 
-
 
 
1,845
 
Farmland
 
 
-
 
 
-
 
 
-
 
 
-
 
Total real estate
 
 
-
 
 
1,940
 
 
-
 
 
1,940
 
Agriculture
 
 
-
 
 
-
 
 
-
 
 
-
 
Commercial and industrial
 
 
-
 
 
-
 
 
-
 
 
-
 
Consumer loans
 
 
-
 
 
43
 
 
-
 
 
43
 
Total impaired loans
 
 
-
 
 
1,983
 
 
-
 
 
1,983
 
Foreclosed assets
 
$
-
 
$
2,897
 
$
-
 
$
2,897
 
Total assets measured on a norecurring basis
 
$
-
 
$
4,880
 
$
-
 
$
4,880
 
 
 
 
Fair Value Measurements at December 31, 2015, using
 
 
 
Quoted Prices in Active
 
Significant
 
Significant
 
 
 
 
 
 
Markets for
 
Observable Inputs
 
Unobservable Inputs
 
 
 
 
 
 
Identical Assets (Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Impaired loans
 
 
 
 
 
 
 
 
 
 
 
 
 
Real Estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
1-4 family residential construction
 
$
-
 
$
-
 
$
-
 
$
-
 
Other construction/land
 
 
-
 
 
179
 
 
-
 
 
179
 
1-4 family - closed-end
 
 
-
 
 
499
 
 
-
 
 
499
 
Equity lines
 
 
-
 
 
30
 
 
-
 
 
30
 
Multi-family residential
 
 
-
 
 
-
 
 
-
 
 
-
 
Commercial real estate - owner occupied
 
 
-
 
 
26
 
 
-
 
 
26
 
Commercial real estate-non-owner occupied
 
 
-
 
 
3,053
 
 
-
 
 
3,053
 
Farmland
 
 
-
 
 
-
 
 
 
 
 
-
 
Total real estate
 
 
-
 
 
3,787
 
 
-
 
 
3,787
 
Agriculture
 
 
-
 
 
-
 
 
 
 
 
-
 
Commercial and industrial
 
 
-
 
 
-
 
 
 
 
 
-
 
Consumer loans
 
 
-
 
 
42
 
 
 
 
 
42
 
Total impaired loans
 
 
-
 
 
3,829
 
 
-
 
 
3,829
 
Foreclosed assets
 
$
-
 
$
3,193
 
$
-
 
$
3,193
 
Total assets measured on a norecurring basis
 
$
-
 
$
7,022
 
$
-
 
$
7,022