Disclosures About Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements of Assets and Liabilities Recognized in Consolidated Condensed Balance Sheets Measured at Fair Value

The following table presents the fair value measurements of assets and liabilities recognized in the Consolidated Condensed Balance Sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2014, and December 31, 2013.

		Fair Value Measurements Using:
September 30, 2014	Fair Value	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Available for sale securities:
U.S. Government-sponsored agency securities	109		109
State and municipal	235,797		229,167	$	6,630
U.S. Government-sponsored mortgage-backed securities	329,531		329,531
Corporate obligations	853			853
Equity securities	1,706		1,702	4
Interest rate swap asset	2,911		2,911
Interest rate cap	198		198
Interest rate swap liability	4,547		4,547

			Fair Value Measurements Using:
December 31, 2013	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Available for sale securities:
U.S. Treasury	$	15,973		$	15,973
U.S. Government-sponsored agency securities	3,545			3,545
State and municipal	230,987			223,752		$	7,235
U.S. Government-sponsored mortgage-backed securities	281,252			281,252
Corporate obligations	2,738					2,738
Equity securities	1,706			1,702		4
Interest rate swap asset	3,619			3,619
Interest rate cap	390			390
Interest rate swap liability	3,953			3,953

Reconciliation of Beginning and Ending Balances of Recurring Fair Value Measurements Recognized in Consolidated Condensed Balance Sheets using Significant Unobservable Level 3 Inputs

The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the Consolidated Condensed Balance Sheets using significant unobservable (Level 3) inputs for three and nine months ended September 30, 2014, and 2013.

	Available for Sale Securities
	Three Months Ended September 30, 2014			Three Months Ended September 30, 2013			Nine Months Ended September 30, 2014			Nine Months Ended September 30, 2013
Balance at beginning of the period	$	7,533		$	17,915		$	9,977		$	18,328
Total realized and unrealized gains and losses:
Included in net income
Included in other comprehensive income	68			(486		)	2,960			(521		)
Purchases, issuances and settlements
Transfers in/(out) of Level 3				3,905						3,905
Principal payments	(114		)	(336		)	(5,450		)	(714		)
Ending balance	$	7,487		$	20,998		$	7,487		$	20,998

Description of Valuation Methodologies Used for Instruments Measured at Fair Value on a Non-Recurring Basis and Recognized in Consolidated Condensed Balance Sheets

The following table presents the fair value measurement of assets and liabilities measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2014, and December 31, 2013.

			Fair Value Measurements Using
September 30, 2014	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Impaired loans (collateral dependent)	$	19,830			$	19,830
Other real estate owned	$	5,638			$	5,638

			Fair Value Measurements Using
December 31, 2013	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable  Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
Impaired loans (collateral dependent)	$	12,117			$	12,117
Other real estate owned	$	6,877			$	6,877

Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements Other Than Goodwill

The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements, other than goodwill, at September 30, 2014 and December 31, 2013.

September 30, 2014	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted-Average)
State and municipal securities	$	6,630	Discounted cash flow	Maturity/Call date	1 month to 18 yrs
				Blend of US Muni BQ curve	A- to BBB-
				Discount rate	1% - 6.25%
Corporate obligations/Equity securities	$	857	Discounted cash flow	Risk free rate	3 month LIBOR
				plus Premium for illiquidity	plus 200bps
Impaired loans (collateral dependent)	$	19,830	Collateral based measurements	Discount to reflect current market conditions and ultimate collectability	0% - 50% (2%)
Other real estate owned	$	5,638	Appraisals	Discount to reflect current market conditions	0% - 20% (4%)

December 31, 2013	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted-Average)
State and municipal securities	$	7,235	Discounted cash flow	Maturity/Call date	1 month to 15 yrs
				Blend of US Muni BQ curve	A- to BBB-
				Discount rate	1% - 5%
Corporate obligations/Equity securities	$	2,742	Discounted cash flow	Risk free rate	3 month LIBOR
				plus Premium for illiquidity	plus 200bps
Impaired loans (collateral dependent)	$	12,117	Collateral based measurements	Discount to reflect current market conditions and ultimate collectability	0% - 50% (3%)
Other real estate owned	$	6,877	Appraisals	Discount to reflect current market conditions	0% - 20% (2%)

Estimated Fair Values of Financial Instruments

The following table presents estimated fair values of the Corporation’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2014, and December 31, 2013.

			September 30, 2014
			(unaudited)
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
			(Level 1)		(Level 2)		(Level 3)
Assets:
Cash and due from banks	$	74,237	$	74,237
Interest-bearing time deposits	24,171		24,171
Investment securities available for sale	567,996				$	560,509	$	7,487
Investment securities held to maturity	621,818				595,817		38,738
Loans held for sale	6,423				6,423
Loans	3,706,871						3,667,454
Federal Reserve Bank and Federal Home Loan Bank stock	43,127				43,127
Interest rate swap and cap asset	3,109				3,109
Interest receivable	19,455				19,455
Liabilities:
Deposits	$	4,310,123	$	3,229,034	$	1,073,638
Borrowings:
Federal funds purchased	61,428				61,428
Securities sold under repurchase agreements	117,892				117,903
Federal Home Loan Bank advances	255,423				255,569
Subordinated debentures and term loans	126,874				101,257
Interest rate swap liability	4,547				4,547
Interest payable	3,819				3,819

			December 31, 2013
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
			(Level 1)		(Level 2)		(Level 3)
Assets:
Cash and due from banks	$	109,434	$	109,434
Interest-bearing time deposits	55,069		55,069
Investment securities available for sale	536,201				$	526,224	$	9,977
Investment securities held to maturity	559,378				525,998		34,849
Loans held for sale	5,331				5,331
Loans	3,564,539						3,506,615
Federal Reserve Bank and Federal Home Loan Bank stock	38,990				38,990
Interest rate swap and cap asset	4,009				4,009
Interest receivable	18,672				18,672
Liabilities:
Deposits	$	4,231,468	$	3,082,117	$	934,937
Borrowings:
Federal funds purchased	125,645				125,645
Securities sold under repurchase agreements	148,672				148,852
Federal Home Loan Bank advances	122,140				122,962
Subordinated debentures and term loans	126,807				82,607
Interest rate swap liability	3,953				3,953
Interest payable	1,771				1,771