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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Measurements [Abstract]

Assets measured at fair value on a recurring basis

						Fair Value Measurements
(in thousands)		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
March 31, 2013
Assets:
U.S. treasury		$	2,023			$	2,023			$	0			$	0
Government sponsored enterprises			69,576				0				69,576				0
Asset-backed securities			124,918				0				124,918				0
Obligations of states and political subdivisions			35,474				0				35,474				0
Mortgage servicing rights			2,689				0				0				2,689
Total		$	234,680			$	2,023			$	229,968			$	2,689
December 31, 2012
Assets:
U.S. treasury		$	2,030			$	2,030			$	0			$	0
Government sponsored enterprises			55,180				0				55,180				0
Asset-backed securities			107,872				0				107,872				0
Obligations of states and political subdivisions			35,164				0				35,164				0
Mortgage servicing rights			2,549				0				0				2,549
Total		$	202,795			$	2,030			$	198,216			$	2,549

Summary of changes in Level 3 assets and liabilities measured at fair value on a recurring basis

		Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Mortgage Servicing Rights Three Months Ended March 31,
(in thousands)		2013				2012
Balance at beginning of period		$	2,549			$	0
Transfer into level 3			0				3,050
Total gains or losses (realized/unrealized):
Included in earnings			(57	)			(485	)
Included in other comprehensive income			0				0
Purchases			0				0
Sales			0				0
Issued			197				182
Settlements			0				0
Balance at end of period		$	2,689			$	2,747

Quantitative Information about Level 3 Fair Value Measurements

		Quantitative Information about Level 3 Fair Value Measurements
		Valuation Technique		Unobservable Inputs		Input Value
						Three Months Ended March 31,
						2013				2012
Mortgage servicing rights		Discounted cash flows		Weighted average constant prepayment rate			17.63	%			17.78	%
				Weighted average discount rate			8.03	%			8.01	%

Valuation methodologies used for assets and liabilities recorded at fair value on a nonrecurring basis

		Fair Value Measurements Using
(in thousands)		Total Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Three Months  Ended March 31, Total Gains (Losses)*
March 31, 2013
Assets:
Impaired loans:
Commercial, financial, & agricultural		$	737			$	0			$	0			$	737			$	(10	)
Real estate construction – residential			1,959				0				0				1,959				(119	)
Real estate construction – commercial			5,762				0				0				5,762				0
Real estate mortgage – residential			2,774				0				0				2,774				(235	)
Real estate mortgage – commercial			10,368				0				0				10,368				(987	)
Consumer			38				0				0				38				0
Total		$	21,638			$	0			$	0			$	21,638			$	(1,351	)
Other real estate owned and repossessed assets		$	23,128			$	0			$	0			$	23,128			$	(200	)
March 31, 2012
Assets:
Impaired loans:
Commercial, financial, & agricultural		$	1,715			$	0			$	0			$	1,715			$	(35	)
Real estate construction – residential			130				0				0				130				0
Real estate construction – commercial			5,801				0				0				5,801				0
Real estate mortgage – residential			3,849				0				0				3,849				(124	)
Real estate mortgage – commercial			14,593				0				0				14,593				(588	)
Consumer			0				0				0				0				0
Total		$	26,088			$	0			$	0			$	26,088			$	(747	)
Other real estate owned and repossessed assets		$	20,177			$	0			$	0			$	20,177			$	(270	)

* Total gains (losses) reported for other real estate owned and repossessed assets includes charge-offs, valuation write downs, and net losses taken during the periods reported.

X

- Definition

Tabular disclosure related to 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 recurring and/or nonrecurring basis in periods after initial recognition. Disclosures 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) as well as transfers between levels 1 and 2.

+ References

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 6

-Footnote 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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- Definition

Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, used to measure similar assets in prior periods (non-recurring basis) by class of asset or liability.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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 Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 6

-Footnote 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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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.

+ References

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