Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Assets measured on recurring basis

Assets measured at fair value on a recurring basis comprised the following at December 31:  

			Fair Value Measurements at Reporting Date Using
(Dollars in thousands)			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable  Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	Fair Value
December 31, 2013
Obligations of:
U.S. Treasury and government agencies	$	20	$	—	$	20	$	—
U.S. government sponsored agencies	319		—		319		—
States and political subdivisions	50,962		—		50,962		—
Residential mortgage-backed securities	510,097		—		510,097		—
Commercial mortgage-backed securities	32,304		—		32,304		—
Bank-issued trust preferred securities	7,829		—		7,829		—
Equity securities	4,577		4,443		134		—
Total available-for-sale securities	$	606,108	$	4,443	$	601,665	$	—
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	$	—

Held-to-maturity securities reported at fair value comprised the following at December 31:

			Fair Value at Reporting Date Using
(Dollars in thousands)			Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable  Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	Fair Value
December 31, 2013
Obligations of:
States and political subdivisions	$	3,929	$	—	$	3,929	$	—
Residential mortgage-backed securities	34,530		—		34,530		—
Commercial mortgage-backed securities	7,635		—		7,635		—
Total held-to-maturity securities	$	46,094	$	—	$	46,094	$	—
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

he 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:

	2013				2012
(Dollars in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial assets:
Cash and cash equivalents	$	53,820	$	53,820	$	62,542	$	62,542
Investment securities	680,526		677,398		709,085		710,934
Loans	1,180,857		1,165,560		973,907		897,132
Financial liabilities:
Deposits	$	1,580,758	$	1,587,448	$	1,492,303	$	1,503,098
Short-term borrowings	113,590		113,590		47,769		47,769
Long-term borrowings	121,826		128,205		128,823		141,691