Fair Value (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis, including financial assets and liabilities for which the Company has elected the fair value option, are summarized below:

	Fair Value Measurements at March 31, 2013 Using
	Quoted Prices in
	Active Markets for		Significant Other		Significant
	Identical Assets		Observable Inputs		Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
U.S. Treasury and Agency Securities	$	—	$	23,164	$	—	$	23,164
Corporate Securities		—		—		—		—
Obligations of State and
Political Subdivisions		—		64,390		11,728		76,118
Mortgage-backed Securities-Residential		—		530,827		—		530,827
Equity Securities		419		—		353		772
Total Securities	$	419	$	618,381	$	12,081	$	630,881
Loans Held-for-Sale	$	—	$	25,280	$	—	$	25,280
Derivatives	$	—	$	115	$	—	$	115
Financial Liabilities Derivatives	$	—	$	103	$	—	$	103

	Fair Value Measurements at December 31, 2012 Using
	Quoted Prices in
	Active Markets for		Significant Other		Significant
	Identical Assets		Observable Inputs		Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
U.S. Treasury and Agency Securities	$	—	$	23,472	$	—	$	23,472
Corporate Securities		—		—		—		—
Obligations of State and
Political Subdivisions		—		64,316		12,169		76,485
Mortgage-backed Securities-Residential		—		486,912		—		486,912
Equity Securities		380		—		353		733
Total Securities	$	380	$	574,700	$	12,522	$	587,602
Loans Held-for-Sale	$	—	$	16,641	$	—	$	16,641
Derivatives	$	—	$	187	$	—	$	187
Financial Liabilities Derivatives	$	—	$	178	$	—	$	178

Reconciliation of all Assets Measured at Fair Value on Recurring Basis, Using Significant Unobservable Inputs (Level 3)

The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2013 and 2012:

	Obligations of State
	and Political
	Subdivisions						Equity Securities				Corporate Securities
	2013			2012			2013		2012		2013		2012
Balance of Recurring Level 3 Assets at December 31	$	12,169		$	4,772		$	353	$	353	$	—	$	1,005
Total Gains or Losses (realized/unrealized)
Included in Earnings		(21	)		—			—		—		—		—
Maturities / Calls		(420	)		(697	)		—		—		—		(1,005	)
Purchases		—			—			—		—		—		—
Balance of Recurring Level 3 Assets at March 31	$	11,728		$	4,075		$	353	$	353	$	—	$	—

Assets and Liabilities Measured at Fair Value on Non-Recurring Basis

Assets and Liabilities Measured on a Non-Recurring Basis

Assets and liabilities measured at fair value on a non-recurring basis are summarized below:

	Fair Value Measurements at March 31, 2013 Using
	Quoted Prices in
	Active Markets for		Significant Other		Significant
	Identical Assets		Observable Inputs		Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
Impaired Loans with Specific Allocations
Commercial and Industrial Loans	$	—	$	—	$	1,406	$	1,406
Commercial Real Estate Loans		—		—		1,753		1,753
Agricultural Loans		—		—		—		—
Other Real Estate
Commercial Real Estate		—		—		376		376

	Fair Value Measurements at December 31, 2012 Using
	Quoted Prices in
	Active Markets for		Significant Other		Significant
	Identical Assets		Observable Inputs		Unobservable Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
Assets:
Impaired Loans with Specific Allocations
Commercial and Industrial Loans	$	—	$	—	$	1,231	$	1,231
Commercial Real Estate Loans		—		—		1,497		1,497
Agricultural Loans		—		—		135		135
Other Real Estate
Commercial Real Estate		—		—		150		150

Fair Value Assets and Liabilities Measured on Nonrecurring Basis Valuation Techniques

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at March 31, 2013:

					Range
			Valuation		(Weighted
	Fair Value		Technique(s)	Unobservable Input(s)	Average)
Impaired Loans - Commercial	$	1,406	Sales comparison	Adjustment for differences		10%-90	%
and Industrial Loans			approach	between the comparable		(18	)%
				sales
Impaired Loans - Commercial	$	1,753	Sales comparison	Adjustment for physical		15%-78	%
Real Estate Loans			approach	condition of comparable		(50	)%
			Income approach	properties sold
			Cost approach	Adjustment for net operating
				income generated by the
				property
				Adjustment for investor rates of return
Other Real Estate - Commercial	$	376	Sales comparison	Adjustment for physical		36	%
Real Estate Loans			approach	condition of comparable		(36	)%
			Income approach	properties sold
			Cost approach	Adjustment for net operating
				income generated by the
				property
				Adjustment for investor rates of return

Carrying Amounts and Estimated Fair Values of Company's Financial Instruments

The carrying amounts and estimated fair values of the Company’s financial instruments not previously presented are provided in the table below for the periods ending March 31, 2013 and December 31, 2012. Not all of the Company’s assets and liabilities are considered financial instruments, and therefore are not included in the table. Because no active market exists for a significant portion of the Company’s financial instruments, fair value estimates were based on subjective judgments, and therefore cannot be determined with precision.

				Fair Value Measurements at
				March 31, 2013 Using
	Carrying Value			Level 1			Level 2			Level 3			Total
Financial Assets:
Cash and Short-term Investments	$	31,665		$	22,045		$	9,620		$	—		$	31,665
Securities Held-to-Maturity		268			—			271			—			271
FHLB Stock and Other Restricted Stock		8,340			N/A			N/A			N/A			N/A
Loans, Net		1,174,854			—			—			1,183,445			1,183,445
Accrued Interest Receivable		7,328			—			1,911			5,417			7,328
Financial Liabilities:
Demand, Savings, and Money Market Deposits		(1,327,197	)		(1,327,197	)		—			—			(1,327,197	)
Time Deposits		(332,712	)		—			(336,276	)		—			(336,276	)
Short-term Borrowings		(26,266	)		—			(26,266	)		—			(26,266	)
Long-term Debt		(87,957	)		—			(65,373	)		(23,986	)		(89,359	)
Accrued Interest Payable		(812	)		—			(685	)		(127	)		(812	)
Unrecognized Financial Instruments:
Commitments to Extend Credit		—			—			—			—			—
Standby Letters of Credit		—			—			—			—			—
Commitments to Sell Loans		—			—			—			—			—

				Fair Value Measurements at
				December 31, 2012 Using
	Carrying Value			Level 1			Level 2			Level 3			Total
Financial Assets:
Cash and Short-term Investments	$	51,794		$	41,624		$	10,170		$	—		$	51,794
Securities Held-to-Maturity		346			—			351			—			351
FHLB Stock and Other Restricted Stock		8,340			N/A			N/A			N/A			N/A
Loans, Net		1,186,483			—			—			1,199,566			1,199,566
Accrued Interest Receivable		7,419			—			1,893			5,526			7,419
Financial Liabilities:
Demand, Savings, and Money Market Deposits		(1,311,748	)		(1,311,748	)		—			—			(1,311,748	)
Time Deposits		(329,183	)		—			(333,170	)		—			(333,170	)
Short-term Borrowings		(71,534	)		—			(71,534	)		—			(71,534	)
Long-term Debt		(89,472	)		—			(66,892	)		(28,872	)		(95,764	)
Accrued Interest Payable		(1,275	)		—			(829	)		(446	)		(1,275	)
Unrecognized Financial Instruments:
Commitments to Extend Credit		—			—			—			—			—
Standby Letters of Credit		—			—			—			—			—
Commitments to Sell Loans		—			—			—			—			—