Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE (Tables)

v2.4.0.6
FAIR VALUE (Tables)
 3 Months Ended
Mar. 31, 2013
FAIR VALUE [Abstract]  
Assets measured at fair value on a recurring basis
Assets measured at fair value on a recurring basis are summarized below (in thousands):
 
 
 
Fair
Value
 
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
 
Significant Other Observable Inputs (Level 2)
 
 
Significant Unobservable Inputs
(Level 3)
 
March 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and federal agency securities
 
$
44,969
 
 
$
-
 
 
$
44,969
 
 
$
-
 
U.S. Agency MBS and CMOs
21,933
-
21,933
-
Tax-exempt state and municipal bonds
 
 
21,976
 
 
 
-
 
 
 
21,976
 
 
 
-
 
Taxable state and municipal bonds
27,861
-
27,861
-
Corporate bonds and other debt securities
 
 
8,510
 
 
 
-
 
 
 
8,510
 
 
 
-
 
Other equity securities
 
 
1,546
 
 
 
-
 
 
 
1,546
 
 
 
-
 
Loans held for sale
 
 
3,976
 
 
 
-
 
 
 
3,976
 
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury and federal agency securities
 
$
42,564
 
 
$
-
 
 
$
42,564
 
 
$
-
 
U.S. Agency MBS and CMOs
23,761
-
23,761
-
Tax-exempt state and municipal bonds
20,793
-
20,793
-
Taxable state and municipal bonds
 
 
27,296
 
 
 
-
 
 
 
27,296
 
 
 
-
 
Corporate bonds
7,526
-
7,526
-
Other equity securities
 
 
1,557
 
 
 
-
 
 
 
1,557
 
 
 
-
 
Loans held for sale
 
 
8,130
 
 
 
-
 
 
 
8,130
 
 
 
-
 
 
Assets measured at fair value on a non-recurring basis
Assets measured at fair value on a non-recurring basis are summarized below (in thousands):
 
 
 
Fair
Value
 
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
 
Significant Other Observable Inputs (Level 2)
 
 
Significant Unobservable Inputs
(Level 3)
 
March 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
Impaired loans
 
$
32,141
 
 
$
---
 
 
$
---
 
 
$
32,141
 
Other real estate owned
 
 
41,505
 
 
 
---
 
 
 
---
 
 
 
41,505
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired loans
 
$
34,668
 
 
$
---
 
 
$
---
 
 
$
34,668
 
Other real estate owned
 
 
41,594
 
 
 
---
 
 
 
---
 
 
 
41,594
 
 
Carrying amounts and estimated fair values of financial instruments, not previously presented
The carrying amounts and estimated fair values of financial instruments, not previously presented, were as follows at March 31, 2013 and December 31, 2012 (dollars in thousands).
 
 
Level in
March 31, 2013
 
 
December 31, 2012
 
 
Fair Value
Carrying
 
 
Fair
 
 
Carrying
 
 
Fair
 
 
Hierarchy
Amount
 
 
Value
 
 
Amount
 
 
Value
 
Financial assets
 
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
Level 1
$
21,585
 
 
$
33,556
 
 
$
33,556
 
 
$
33,556
 
Cash equivalents
Level 2
127,742
127,742
192,802
192,802
Interest-bearing time deposits in other financial institutions
Level 2
 
25,000
 
 
 
25,000
 
 
 
-
 
 
 
-
 
Securities held to maturity
Level 2
 
5,380
 
 
 
5,381
 
 
 
4,300
 
 
 
4,301
 
FHLB stock
 
11,236
 
 
 
NA
 
 
 
11,236
 
 
 
NA
 
Loans, net
Level 2
 
995,381
 
 
 
1,000,170
 
 
 
993,941
 
 
 
999,619
 
Bank owned life insurance
Level 3
26,974
26,974
26,804
26,804
Accrued interest receivable
Level 2
 
3,687
 
 
 
3,687
 
 
 
3,411
 
 
 
3,411
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial liabilities
 
 
 
 
 
 
 
 
 
 
 
Deposits
Level 2
 
(1,231,390
)
 
 
(1,231,233
)
 
 
(1,286,261
)
 
 
(1,285,819
)
Other borrowed funds
Level 2
 
(90,658
)
 
 
(93,944
)
 
 
(91,822
)
 
 
(95,213
)
Long-term debt
Level 2
 
(41,238
)
 
 
(33,188
)
 
 
(41,238
)
 
 
(30,463
)
Subordinated debt
Level 2
 
(1,650
)
 
 
(1,650
)
 
 
(1,650
)
 
 
(1,650
)
Accrued interest payable
Level 2
 
(5,241
)
 
 
(5,241
)
 
 
(4,858
)
 
 
(4,858
)
 
 
 
 
 
 
 
 
 
 
 
 
Off-balance sheet credit-related items
 
 
 
 
 
 
 
 
 
 
 
Loan commitments
 
-
 
 
 
-
 
 
 
-
 
 
 
-