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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

No authoritative reference available.

+ References

No definition available.

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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

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

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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

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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).

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