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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2015

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)
September 30, 2015
Assets:
Government sponsored enterprises		$	88,050			$	0			$	88,050			$	0
Asset-backed securities			122,726				0				122,726				0
Obligations of states and political subdivisions			33,474				0				33,474				0
Mortgage servicing rights			2,774				0				0				2,774
Total		$	247,024			$	0			$	244,250			$	2,774
December 31, 2014
Assets:
Government sponsored enterprises		$	57,099			$	0				57,099				0
Asset-backed securities			106,462				0				106,462				0
Obligations of states and political subdivisions			35,437				0				35,437				0
Mortgage servicing rights			2,762				0				0				2,762
Total		$	201,760			$	0			$	198,998			$	2,762

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 September 30,								Nine Months Ended September 30,
(in thousands)		2015				2014				2015				2014
Balance at beginning of period		$	2,727			$	2,911			$	2,762			$	3,036
Total gains or losses (realized/unrealized):
Included in earnings			(29	)			(139	)			(291	)			(386	)
Included in other comprehensive income			0				0				0				0
Purchases			0				0				0				0
Sales			0				0				0				0
Issues			76				95				303				217
Settlements			0				0				0				0
Balance at end of period		$	2,774			$	2,867			$	2,774			$	2,867

Schedule of quantitative Information about Level 3 Fair Value Measurements

		Quantitative Information about Level 3 Fair Value Measurements
		Valuation Technique		Unobservable Inputs		Input Value
						Nine Months Ended September 30,
						2015				2014
Mortgage servicing rights		Discounted cash flows		Weighted average constant prepayment rate			10.06	%			10.05	%
				Weighted average discount rate			9.35	%			9.18	%
				Weighted average expected life (in years)			5.80				5.90

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

		Fair Value Measurements Using
						Quoted Prices												Three				Nine
						in Active												Months				Months
						Markets for				Other				Significant				Ended				Ended
						Identical				Observable				Unobservable				September 30,				September 30,
		Total				Assets				Inputs				Inputs				Total Gains				Total Gains
(in thousands)		Fair Value				(Level 1)				(Level 2)				(Level 3)				(Losses)*				(Losses)*
September 30, 2015
Assets:
Impaired loans:
Commercial, financial, & agricultural		$	462			$	0			$	0			$	462			$	(540	)		$	(561	)
Real estate construction - residential			0				0				0				0				0				0
Real estate construction - commercial			45				0				0				45				0				0
Real estate mortgage - residential			3,618				0				0				3,618				(61	)			(267	)
Real estate mortgage - commercial			572				0				0				572				(89	)			(118	)
Consumer			121				0				0				121				(5	)			(54	)
Total		$	4,818			$	0			$	0			$	4,818			$	(695	)		$	(1,000	)
Other real estate and foreclosed assets		$	15,148			$	0			$	0			$	15,148			$	(80	)		$	112
September 30, 2014
Assets:
Impaired loans:
Commercial, financial, & agricultural		$	1,364			$	0			$	0			$	1,364			$	(28	)		$	(150	)
Real estate construction - residential			1,767				0				0				1,767				0				(60	)
Real estate construction - commercial			0				0				0				0				0				(491	)
Real estate mortgage - residential			3,795				0				0				3,795				(41	)			(179	)
Real estate mortgage - commercial			2,887				0				0				2,887				(131	)			(1,200	)
Consumer			213				0				0				213				(4	)			(74	)
Total		$	10,026			$	0			$	0			$	10,026			$	(204	)		$	(2,154	)
Other real estate and repossessed assets		$	12,438			$	0			$	0			$	12,438			$	(203	)		$	(1,733	)

* Total gains (losses) reported for other real estate and repossessed 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).

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-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

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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

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-Name Accounting Standards Codification



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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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