Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Summary of the carrying amounts and fair values of financial instruments

					March 31, 2014
					Fair Value Measurements
					Quoted Prices
					in Active				Net
					Markets for		Other		Significant
	March 31, 2014				Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
(in thousands)	Amount		Value		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash and due from banks	$	24,314	$	24,314	$	24,314	$	0	$	0
Federal funds sold and overnight interest-bearing deposits	16,920		16,920		16,920		0		0
Investment in available-for-sale securities	213,227		213,227		1,001		212,226		0
Loans, net	832,462		835,199		0		0		835,199
Investment in FHLB stock	2,315		2,315		0		2,315		0
Mortgage servicing rights	3,040		3,040		0		0		3,040
Cash surrender value - life insurance	2,233		2,233				2,233		0
Accrued interest receivable	4,441		4,441		4,441		0		0
	$	1,098,952	$	1,101,689	$	46,676	$	216,774	$	838,239
Liabilities:
Deposits:
Non-interest bearing demand	$	189,925	$	189,925	$	189,925	$	0	$	0
Savings, interest checking and money market	453,724		453,724		453,724		0		0
Time deposits	344,087		346,442		0		0		346,442
Federal funds purchased and securities sold under agreements to repurchase	20,761		20,761		20,761		0		0
Subordinated notes	49,486		34,081		0		34,081		0
Federal Home Loan Bank advances	24,000		25,261		0		25,261		0
Accrued interest payable	412		412		412		0		0
	$	1,082,395	$	1,070,606	$	664,822	$	59,342	$	346,442

					December 31, 2013
					Fair Value Measurements
					Quoted Prices
					in Active				Net
					Markets for		Other		Significant
	December 31, 2013				Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
(in thousands)	Amount		Value		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash and due from banks	$	27,079	$	27,079	$	27,079	$	0	$	0
Federal funds sold and overnight interest-bearing deposits	1,360		1,360		1,360		0		0
Investment in available-for-sale securities	205,985		205,985		1,003		204,982		0
Loans, net	825,828		829,223		0		0		829,223
Investment in FHLB stock	2,354		2,354		0		2,354		0
Mortgage servicing rights	3,036		3,036		0		0		3,036
Cash surrender value - life insurance	2,213		2,213				2,213		0
Accrued interest receivable	4,999		4,999		4,999		0		0
	$	1,072,854	$	1,076,249	$	34,441	$	209,549	$	832,259
Liabilities:
Deposits:
Non-interest bearing demand	$	187,382	$	187,382	$	187,382	$	0	$	0
Savings, interest checking and money market	419,085		419,085		419,085		0		0
Time deposits	350,004		352,432		0		0		352,432
Federal funds purchased and securities sold under agreements to repurchase	31,084		31,084		31,084		0		0
Subordinated notes	49,486		32,048		0		32,048		0
Federal Home Loan Bank advances	24,000		25,366		0		25,366		0
Accrued interest payable	426		426		426		0		0
	$	1,061,467	$	1,047,823	$	637,977	$	57,414	$	352,432

- Definition

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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