XML 30 R31.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2013
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The tables below present the recorded amount of assets measured at fair value on a recurring basis at September 30, 2013 and December 31, 2012. No assets were transferred from one hierarchy level to another during the first nine months of 2013 or 2012.
 
 
 
 
 
 
 
 
 
Significant
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
Significant
 
 
 
 
 
 
Quoted
 
Observable
 
Unobservable
 
 
 
 
 
 
Prices
 
Inputs
 
Inputs
 
(Dollars in thousands)
 
Fair Value
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
September 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasury
 
$
5,369
 
$
5,369
 
$
-
 
$
-
 
U.S. Government agencies
 
 
46,214
 
 
-
 
 
46,214
 
 
-
 
Mortgage-backed securities
 
 
83,671
 
 
-
 
 
83,671
 
 
-
 
Other equity securities
 
 
608
 
 
-
 
 
608
 
 
-
 
Total
 
$
135,862
 
$
5,369
 
$
130,493
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps
 
$
-
 
$
-
 
$
-
 
$
-
 
 
 
 
 
 
 
 
 
 
Significant
 
 
 
 
 
 
 
 
 
 
 
 
Other
 
Significant
 
 
 
 
 
 
Quoted
 
Observable
 
Unobservable
 
 
 
 
 
 
Prices
 
Inputs
 
Inputs
 
(Dollars in thousands)
 
Fair Value
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Government agencies
 
$
36,107
 
$
-
 
$
36,107
 
$
-
 
Mortgage-backed securities
 
 
108,780
 
 
-
 
 
108,780
 
 
-
 
Other equity securities
 
 
621
 
 
-
 
 
621
 
 
-
 
Total
 
$
145,508
 
$
-
 
$
145,508
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate caps
 
$
14
 
$
-
 
$
14
 
$
-
 
Fair Value Assets Measured on Nonrecurring Basis [Table Text Block]
The tables below summarize the changes in the recorded amount of assets measured at fair value on a nonrecurring basis for the nine months ended September 30, 2013 and 2012. All assets measured at fair value on a nonrecurring basis were classified as Level 3 in the fair value hierarchy for the periods presented.
 
(Dollars in thousands)
 
Construction
 
Residential
real estate
 
Commercial
real estate
 
Commercial
 
Consumer
 
Total
 
For the nine months ended
    September 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
36,088
 
$
17,951
 
$
31,833
 
$
715
 
$
39
 
$
86,626
 
Charge-offs
 
 
(19,377)
 
 
(4,664)
 
 
(6,893)
 
 
(90)
 
 
(38)
 
 
(31,062)
 
Payments
 
 
(1,510)
 
 
(2,183)
 
 
(8,170)
 
 
(47)
 
 
(13)
 
 
(11,923)
 
Transferred to loans held for sale
 
 
(9,820)
 
 
(5,492)
 
 
(6,795)
 
 
-
 
 
-
 
 
(22,107)
 
Transferred to other real estate owned
 
 
(205)
 
 
(729)
 
 
(1,601)
 
 
-
 
 
-
 
 
(2,535)
 
Returned to performing status
 
 
-
 
 
(2,448)
 
 
(1,075)
 
 
-
 
 
-
 
 
(3,523)
 
Changed to nonaccrual status
 
 
-
 
 
(1,626)
 
 
(1,741)
 
 
-
 
 
-
 
 
(3,367)
 
Additions
 
 
3,821
 
 
20,764
 
 
8,747
 
 
374
 
 
44
 
 
33,750
 
Changes in allowance
 
 
519
 
 
(326)
 
 
159
 
 
(305)
 
 
(13)
 
 
34
 
Ending balance
 
$
9,516
 
$
21,247
 
$
14,464
 
$
647
 
$
19
 
$
45,893
 
 
(Dollars in thousands)
 
Construction
 
Residential
real estate
 
Commercial
real estate
 
Commercial
 
Consumer
 
Total
 
For the nine months ended
    September 30, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
27,166
 
$
22,602
 
$
23,578
 
$
1,738
 
$
28
 
$
75,112
 
Charge-offs
 
 
(4,965)
 
 
(7,628)
 
 
(2,177)
 
 
(1,264)
 
 
-
 
 
(16,034)
 
Payments
 
 
(976)
 
 
(8,405)
 
 
(1,858)
 
 
(105)
 
 
(4)
 
 
(11,348)
 
Transferred to loans held for sale
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Transferred to other real estate owned
 
 
(1,631)
 
 
(1,463)
 
 
(1,334)
 
 
(30)
 
 
-
 
 
(4,458)
 
Returned to performing status
 
 
-
 
 
(201)
 
 
-
 
 
(39)
 
 
-
 
 
(240)
 
Changed to nonaccrual status
 
 
(666)
 
 
(786)
 
 
-
 
 
-
 
 
-
 
 
(1,452)
 
Additions
 
 
20,856
 
 
14,256
 
 
10,693
 
 
1,346
 
 
30
 
 
47,181
 
Changes in allowance
 
 
151
 
 
1,296
 
 
-
 
 
-
 
 
-
 
 
1,447
 
Ending balance
 
$
39,935
 
$
19,671
 
$
28,902
 
$
1,646
 
$
54
 
$
90,208
 
Fair Value Assets Measured on Nonrecurring Basis Other Real Estate Owned [Table Text Block]
 
 
For the Nine Months
Ended
 
(Dollars in thousands)
 
September 30,
 
 
 
2013
 
2012
 
Other real estate owned:
 
 
 
 
 
 
 
Beginning balance
 
$
7,659
 
$
9,385
 
Sales
 
 
(3,793)
 
 
(4,605)
 
Write-downs
 
 
(947)
 
 
(1,077)
 
Additions
 
 
2,857
 
 
4,715
 
Ending balance
 
$
5,776
 
$
8,418
 
Schedule of Estimated Fair Values of Financial Assets and Liabilities [Table Text Block]
The following table provides information on the estimated fair values of the Company’s financial assets and liabilities that are reported in the balance sheets at their carrying amounts. The financial assets and liabilities have been segregated by their classification level in the fair value hierarchy.
 
 
 
September 30, 2013
 
December 31, 2012
 
 
 
 
 
 
Estimated
 
 
 
Estimated
 
 
 
Carrying
 
Fair
 
Carrying
 
Fair
 
(Dollars in thousands)
 
Amount
 
Value
 
Amount
 
Value
 
Financial assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 2 inputs
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
106,922
 
$
106,922
 
$
200,193
 
$
200,193
 
Investment securities held to maturity
 
 
2,357
 
 
2,471
 
 
2,657
 
 
2,884
 
Level 3 inputs
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans, net
 
 
707,326
 
 
728,466
 
 
769,091
 
 
798,381
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 2 inputs
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits
 
$
930,413
 
$
929,587
 
$
1,049,273
 
$
1,052,382
 
Short-term borrowings
 
 
11,468
 
 
11,468
 
 
13,761
 
 
13,761