Fair Value Measurements and Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

For financial assets and liabilities measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at March 31, 2016 and December 31, 2015 are as follows:

			March 31, 2016
			Fair Value Measurements at Reporting Date Using
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
			(Level 1)		(Level 2)		(Level 3)
(in thousands)
Recurring fair value measurements:
Assets
Investment securities:
Available-for-sale:
Federal agency obligations	$	31,827	$	-	$	31,827	$	-
Residential mortgage pass-
through securities		48,545		-		48,545		-
Commercial mortgage pass-
through securities		3,053		-		3,053		-
Obligations of U.S. states and
political subdivision		9,806		-		9,806		-
Trust preferred securities		16,179		-		16,179		-
Corporate bonds and notes		41,388		-		41,388		-
Asset-backed securities		18,154		-		18,154		-
Certificates of deposit		1,516		-		1,516		-
Equity securities		377		377		-		-
Other securities		20,486		20,486		-		-
Total available-for-sale	$	191,331	$	20,863	$	170,468	$	-
Liabilities
Derivatives	$	1,568	$	-	$	1,568	$	-
Total liabilities	$	1,568	$	-	$	1,568	$	-

			December 31, 2015
			Fair Value Measurements at Reporting Date Using
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
			(Level 1)		(Level 2)		(Level 3)
(in thousands)
Recurring fair value measurements:
Assets
Investment securities:
Available-for-sale:
Federal agency obligations	$	29,146	$	-	$	29,146	$	-
Residential mortgage pass-
through securities		44,910		-		44,910		-
Commercial mortgage pass-
through securities		2,972		-		2,972		-
Obligations of U.S. states and
political subdivision		8,357		-		8,357		-
Trust preferred securities		16,255		-		16,255		-
Corporate bonds and notes		53,976		-		53,976		-
Asset-backed securities		19,725		-		19,725		-
Certificates of deposit		1,905		-		1,905		-
Equity securities		374		374		-		-
Other securities		18,150		18,150		-		-
Total available-for-sale	$	195,770	$	18,524	$	177,246	$	-
Liabilities
Derivatives	$	131	$	-	$	131	$	-
Total liabilities	$	131	$	-	$	131	$	-

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

For assets measured at fair value on a non-recurring basis, the fair value measurements at March 31, 2016 and December 31, 2015 are as follows:

Impaired loans	Valuation Techniques	Range of Unobservable Inputs
Commercial	Appraisals of collateral value	Adjustment for age of comparable sales, generally a decline of 0% to 15%. Adjustment for age of lease payments. Market capitalization rates between 4% and 8%

Fair Value Measurements, Nonrecurring [Table Text Block]

			Fair Value Measurements at Reporting Date Using
			Quoted
			Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
	March 31,		Assets		Inputs		Inputs
Assets measured at fair value on a nonrecurring basis:	2016		(Level 1)		(Level 2)		(Level 3)
Impaired loans		(in thousands)
Commercial	$	3,410	$	-	$	-	$	3,410
			Fair Value Measurements at Reporting Date Using
			Quoted
			Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
	December 31,		Assets		Inputs		Inputs
Assets measured at fair value on a nonrecurring basis:	2015		(Level 1)		(Level 2)		(Level 3)
Impaired loans	(in thousands)
Commercial	$	3,751	$	-	$	-	$	3,751

Fair Value, by Balance Sheet Grouping [Table Text Block]

The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of March 31, 2016 and December 31, 2015.

					Fair Value Measurements
					Quoted
					Prices in
					Active		Significant
					Markets for		Other		Significant
					Identical		Observable		Unobservable
	Carrying		Fair		Assets		Inputs		Inputs
	Amount		Value		(Level 1)		(Level 2)		(Level 3)
	(in thousands)
March 31, 2016
Financial assets
Cash and due from banks	$	118,259	$	118,259	$	118,259	$	-	$	-
Investment securities available-for-sale		191,331		191,331		20,863		170,468		-
Investment securities held-to-maturity		219,373		229,470		30,413		180,553		18,504
Restricted investment in bank stocks		31,487		n/a		n/a		n/a		n/a
Net loans		3,234,739		3,242,398		-		-		3,242,398
Accrued interest receivable		12,604		12,604		199		2,486		9,919
Financial liabilities
Noninterest-bearing deposits		614,507		614,507		614,507		-		-
Interest-bearing deposits		2,278,564		2,285,918		-		2,285,918		-
Borrowings		646,501		651,739		-		651,739		-
Subordinated debentures, net		54,392		57,879		-		57,879		-
Derivatives		1,568		1,568		-		1,568		-
Accrued interest payable	$	5,101	$	5,101	$	-	$	5,101	$	-
December 31, 2015
Financial assets
Cash and due from banks	$	200,895	$	200,895	$	200,895	$	-	$	-
Investment securities available-for-sale		195,770		195,770		18,524		177,246		-
Investment securities held-to-maturity		224,056		230,558		29,226		182,774		18,558
Restricted investment in bank stocks		32,612		n/a		n/a		n/a		n/a
Net loans		3,072,435		3,059,343		-		-		3,059,343
Accrued interest receivable		12,545		12,545		68		2,699		9,778
Financial liabilities
Noninterest-bearing deposits		650,775		650,775		650,775		-		-
Interest-bearing deposits		2,140,191		2,137,149		-		2,137,149		-
Borrowings		671,587		674,131		-		674,131		-
Subordinated debentures, net		54,343		55,209		-		55,209		-
Derivatives		131		131		-		131		-
Accrued interest payable	$	4,387	$	4,387	$	-	$	4,387	$	-