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6. Fair Value of Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2013
Fair Value Disclosures [Abstract] |
Available for sale securities measured at fair value on a recurring basis |
(Dollars in thousands) |  |  |  |  |  |  |
| September 30, 2013
| Fair Value Measurements | Level 1 Valuation | Level 2 Valuation | Level 3 Valuation
Mortgage-backed securities | $ | 127,473 |  | - |  | 127,473 |  | -
U.S. Government |  |  |  |  |  |  |  |
sponsored enterprises | $ | 22,734 |  | - |  | 22,734 |  | -
State and political subdivisions | $ | 145,128 |  | - |  | 145,128 |  | -
Corporate bonds | $ | 3,487 |  | - |  | 3,487 |  | -
Trust preferred securities | $ | 1,250 |  | - |  | - |  | 1,250
Equity securities | $ | 1,716 |  | 1,716 |  | - |  | -
(Dollars in thousands) |  |  |  |  |  |  |
| December 31, 2012
| Fair Value Measurements | Level 1 Valuation | Level 2 Valuation | Level 3 Valuation
Mortgage-backed securities | $ | 148,024 |  | - |  | 148,024 |  | -
U.S. Government |  |  |  |  |  |  |  |
sponsored enterprises | $ | 18,837 |  | - |  | 18,837 |  | -
State and political subdivisions | $ | 125,658 |  | - |  | 125,658 |  | -
Corporate bonds | $ | 2,586 |  | - |  | 2,586 |  | -
Trust preferred securities | $ | 1,250 |  | - |  | - |  | 1,250
Equity securities | $ | 1,468 |  | 1,468 |  | - |  | -
Fair value measurements of investment securities available for sale using Level 3 significant unobservable inputs |
(Dollars in thousands) |
| Investment Securities Available for Sale
| Level 3 Valuation
Balance, beginning of period | $ | 1,250
Change in book value |  | -
Change in gain/(loss) realized and unrealized |  | -
Purchases/(sales) |  | -
Transfers in and/or (out) of Level 3 |  | -
Balance, end of period | $ | 1,250
Change in unrealized gain/(loss) for assets still held in Level 3 | $ | -
Fair value measurements for impaired loans and other real estate on a non-recurring basis |
(Dollars in thousands) |  |  |  |  |  |  |  |  |
| Fair Value Measurements September 30, 2013 | Level 1 Valuation |  | Level 2 Valuation |  | Level 3 Valuation |  | Total Gains/(Losses) for the Nine Months Ended September 30, 2013
Impaired loans | $ | 39,739 |  | - |  | - |  | 39,739 |  | (2,521 | )
Other real estate | $ | 2,751 |  | - |  | - |  | 2,751 |  | (284 | )
(Dollars in thousands) |  |  |  |  |  |  |  |  |
| Fair Value Measurements December 31, 2012 | Level 1 Valuation |  | Level 2 Valuation |  | Level 3 Valuation |  | Total Gains/(Losses) for the Year Ended December 31, 2012
Impaired loans | $ | 46,738 |  | - |  | - |  | 46,738 |  | (6,875 | )
Other real estate | $ | 6,254 |  | - |  | - |  | 6,254 |  | (1,136 | )
Carrying amount and estimated fair value of the Company's financial instruments |
(Dollars in thousands) |  |  |  |  |  |  |  |  |
|  |  | Fair Value Measurements at September 30, 2013
| Carrying Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 80,950 |  | 80,950 |  | - |  | - |  | 80,950
Investment securities available for sale |  | 301,788 |  | 1,716 |  | 298,822 |  | 1,250 |  | 301,788
Other investments |  | 5,215 |  | - |  | - |  | 5,215 |  | 5,215
Mortgage loans held for sale |  | 2,201 |  | - |  | - |  | 2,201 |  | 2,201
Loans, net |  | 603,207 |  | - |  | - |  | 594,017 |  | 594,017
Cash surrender value of life insurance |  | 13,597 |  | - |  | 13,597 |  | - |  | 13,597
Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits | $ | 798,291 |  | - |  | 797,400 |  | - |  | 797,400
Securities sold under agreements |  |  |  |  |  |  |  |  |  |
to repurchase |  | 48,174 |  | - |  | 48,174 |  | - |  | 48,174
FHLB borrowings |  | 70,000 |  | - |  | 71,197 |  | - |  | 71,197
Junior subordinated debentures |  | 20,619 |  | - |  | 20,619 |  | - |  | 20,619
(Dollars in thousands) |  |  |  |  |  |  |  |  |
|  |  | Fair Value Measurements at December 31, 2012
| Carrying Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 48,843 |  | 48,843 |  | - |  | - |  | 48,843
Investment securities available for sale |  | 297,823 |  | 1,468 |  | 295,105 |  | 1,250 |  | 297,823
Other investments |  | 5,599 |  | - |  | - |  | 5,599 |  | 5,599
Mortgage loans held for sale |  | 6,922 |  | - |  | - |  | 6,922 |  | 6,922
Loans, net |  | 605,551 |  | - |  | - |  | 599,996 |  | 599,996
Cash surrender value of life insurance |  | 13,273 |  | - |  | 13,273 |  | - |  | 13,273
Liabilities: |  |  |  |  |  |  |  |  |  |
Deposits | $ | 781,525 |  | - |  | 780,662 |  | - |  | 780,662
Securities sold under agreements |  |  |  |  |  |  |  |  |  |
to repurchase |  | 34,578 |  | - |  | 34,578 |  | - |  | 34,578
FHLB borrowings |  | 70,000 |  | - |  | 76,375 |  | - |  | 76,375
Junior subordinated debentures |  | 20,619 |  | - |  | 20,619 |  | - |  | 20,619

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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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 + Details
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- 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. + 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 (a) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13433-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13476-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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 + Details
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