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Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2013
Fair Value Disclosures [Abstract]  
Assets Measured at Fair Value on a Recurring Basis
Available-for-sale securities measured at fair value on a recurring basis comprised the following at June 30, 2013:
 
 
Fair Value Measurements at Reporting Date Using
(Dollars in thousands)
 
Quoted Prices in Active Markets for Identical Assets
Significant
Other
Observable
 Inputs
Significant Unobservable Inputs
Fair Value
(Level 1)
(Level 2)
(Level 3)
June 30, 2013
 
 
 
 
Obligations of:
 
 
 
 
U.S. Treasury and government agencies
$
23

$

$
23

$

U.S. government sponsored agencies
400


400


States and political subdivisions
50,579

1,893

48,686


Residential mortgage-backed securities
503,574


503,574


Commercial mortgage-backed securities
33,606


33,606


Bank-issued trust preferred securities
7,811


7,811


Equity securities
4,335

4,201

134


Total available-for-sale securities
$
600,328

$
6,094

$
594,234

$

December 31, 2012
 
 
 
 
Obligations of:
 
 
 
 
U.S. Treasury and government agencies
$
26

$

$
26

$

U.S. government sponsored agencies
516


516


States and political subdivisions
45,668

681

44,987


Residential mortgage-backed securities
514,096


514,096


Commercial mortgage-backed securities
64,416


64,416


Bank-issued trust preferred securities
10,357


10,357


Equity securities
4,106

3,971

135


Total available-for-sale securities
$
639,185

$
4,652

$
634,533

$

Fair Value Amounts Disclosured [Table Text Block]
Held-to-maturity securities reported at fair value comprised the following at June 30, 2013:
 
 
Fair Value at Reporting Date Using
(Dollars in thousands)
 
Quoted Prices in Active Markets for Identical Assets
Significant
Other
Observable
 Inputs
Significant Unobservable Inputs
Fair Value
(Level 1)
(Level 2)
(Level 3)
June 30, 2013
 
 
 
 
Obligations of:
 
 
 
 
States and political subdivisions
$
4,059

$

$
4,059

$

Residential mortgage-backed securities
34,921


34,921


Commercial mortgage-backed securities
7,630


7,630


Total held-to-maturity securities
$
46,610

$

$
46,610

$

December 31, 2012
 
 
 
 
Obligations of:
 
 
 
 
States and political subdivisions
$
4,250

$

$
4,250

$

Residential mortgage-backed securities
34,560


34,560


Commercial mortgage-backed securities
8,314


8,314


Total held-to-maturity securities
$
47,124

$

$
47,124

$

Fair Values of Financial Assets and Liabilities on Balance Sheets
The following table presents the fair values of financial assets and liabilities carried on Peoples’ consolidated balance sheets, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis:
 
 
June 30, 2013
 
December 31, 2012
(Dollars in thousands)
Carrying Amount
Fair Value
 
Carrying Amount
Fair Value
Financial assets:
 
 
 
 
 
Cash and cash equivalents
$
37,757

$
37,757

 
$
62,542

$
62,542

Investment securities
673,248

671,760

 
709,085

710,934

Loans
1,018,069

950,544

 
973,907

897,132

Financial liabilities:
 
 
 
 
 
Deposits
$
1,435,778

$
1,443,797

 
$
1,492,303

$
1,503,098

Short-term borrowings
92,521

92,521

 
47,769

47,769

Long-term borrowings
125,714

132,932

 
128,823

141,691