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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities recorded at fair value on a recurring basis

						Fair Value Measurements
						Quoted Prices
						in Active
						Markets for				Other				Significant
						Identical				Observable				Unobservable
						Assets				Inputs				Inputs
(in thousands)		Fair Value				(Level 1)				(Level 2)				(Level 3)
June 30, 2014
Assets:
Government sponsored enterprises		$	68,048			$	0			$	68,048			$	0
Asset-backed securities			114,738				0				114,738				0
Obligations of states and political subdivisions			32,867				0				32,867				0
Mortgage servicing rights			2,911				0				0				2,911
Total		$	218,564			$	0			$	215,653			$	2,911
December 31, 2013
Assets:
U.S. Treasury		$	1,003			$	1,003			$	0			$	0
Government sponsored enterprises			60,616				0				60,616				0
Asset-backed securities			110,373				0				110,373				0
Obligations of states and political subdivisions			33,993				0				33,993				0
Mortgage servicing rights			3,036				0				0				3,036
Total		$	209,021			$	1,003			$	204,982			$	3,036

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
(in thousands)		Three Months Ended June 30,								Six Months Ended June 30,
		2014				2013				2014				2013
Balance at beginning of period		$	3,040			$	2,689			$	3,036			$	2,549
Total gains or losses (realized/unrealized):
Included in earnings			(201	)			21				(247	)			(37	)
Included in other comprehensive income			0				0				0				0
Purchases			0				0				0				0
Sales			0				0				0				0
Issues			72				163				122				361
Settlements			0				0				0				0
Balance at end of period		$	2,911			$	2,873			$	2,911			$	2,873

Schedule of quantitative Information about Level 3 Fair Value Measurements

		Quantitative Information about Level 3 Fair Value Measurements
		Valuation Technique		Unobservable Inputs		Input Value
						Six Months Ended June 30,
						2014				2013
Mortgage servicing rights		Discounted cash flows		Weighted average constant prepayment rate			9.69	%			16.02	%
				Weighted average discount rate			9.15	%			8.05	%
				Weighted average expected life (in years)			6.00				4.30

Schedule of valuation methods for instruments measured at fair value on a nonrecurring basis

						Fair Value Measurements Using
						Quoted Prices												Three				Six
						in Active												Months				Months
						Markets for				Other				Significant				Ended				Ended
						Identical				Observable				Unobservable				June 30,				June 30,
		Total				Assets				Inputs				Inputs				Total Gains				Total Gains
(in thousands)		Fair Value				(Level 1)				(Level 2)				(Level 3)				(Losses)*				(Losses)*
June 30, 2014
Assets:
Impaired loans:
Commercial, financial, & agricultural		$	1,412			$	0			$	0			$	1,412			$	(19	)		$	(122	)
Real estate construction - residential			1,749				0				0				1,749				0				(60	)
Real estate construction - commercial			39				0				0				39				(77	)			(491	)
Real estate mortgage - residential			3,698				0				0				3,698				(44	)			(138	)
Real estate mortgage - commercial			2,973				0				0				2,973				(704	)			(1,069	)
Consumer			221				0				0				221				(52	)			(70	)
Total		$	10,092			$	0			$	0			$	10,092			$	(896	)		$	(1,950	)
Other real estate and foreclosed assets		$	12,026			$	0			$	0			$	12,026			$	(1,499	)		$	(1,530	)
June 30, 2013
Assets:
Impaired loans:
Commercial, financial, & agricultural		$	1,380			$	0			$	0			$	1,380			$	(75	)		$	(85	)
Real estate construction - residential			1,927				0				0				1,927				0				(119	)
Real estate construction - commercial			4,121				0				0				4,121				0				0
Real estate mortgage - residential			2,993				0				0				2,993				(11	)			(246	)
Real estate mortgage - commercial			11,598				0				0				11,598				0				(987	)
Consumer			38				0				0				38				0				0
Total		$	22,057			$	0			$	0			$	22,057			$	(86	)		$	(1,437	)
Other real estate and foreclosed assets		$	23,128			$	0			$	0			$	24,793			$	(4,485	)		$	(4,686	)

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

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

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19296-110258

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- Definition

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 Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258



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-Name Accounting Standards Codification

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-Section 50

-Paragraph 2

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19279-110258



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-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258

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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

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (bbb)

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258

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