Fair Value (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [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, 2015 Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets:
U.S. Treasury and Agency Securities	$	—	$	19,920	$	—	$	19,920
Obligations of State and Political Subdivisions	—		149,198		9,602		158,800
Mortgage-backed Securities-Residential	—		440,505		—		440,505
Equity Securities	—		—		353		353
Total Securities	$	—	$	609,623	$	9,955	$	619,578
Loans Held-for-Sale	$	—	$	6,290	$	—	$	6,290
Derivative Assets	$	—	$	853	$	—	$	853
Derivative Liabilities	$	—	$	889	$	—	$	889

	Fair Value Measurements at December 31, 2014 Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)		Total
Assets:
U.S. Treasury and Agency Securities	$	—	$	19,561	$	—	$	19,561
Obligations of State and Political Subdivisions	—		143,636		10,141		153,777
Mortgage-backed Securities-Residential	—		457,304		—		457,304
Equity Securities	—		—		353		353
Total Securities	$	—	$	620,501	$	10,494	$	630,995
Loans Held-for-Sale	$	—	$	6,311	$	—	$	6,311
Derivative Assets	$	—	$	507	$	—	$	507
Derivative Liabilities	$	—	$	508	$	—	$	508

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

The tables below present 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, 2015 and 2014:

	Obligations of State and Political Subdivisions						Equity Securities
	2015			2014			2015		2014
Balance of Recurring Level 3 Assets at January 1	$	10,141		$	10,832		$	353	$	353
Total Gains or Losses (realized/unrealized) Included in Earnings	36			69			—		—
Maturities / Calls	(575		)	(425		)	—		—
Purchases	—			—			—		—
Balance of Recurring Level 3 Assets at March 31	$	9,602		$	10,476		$	353	$	353

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

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

	Fair Value Measurements at March 31, 2015 Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)		Total
Assets:
Impaired Loans with Specific Allocations
Commercial and Industrial Loans	$	—	$	—	$	280	$	280
Commercial Real Estate Loans	—		—		1,481		1,481
Agricultural Loans	—		—		—		—
Other Real Estate
Commercial Real Estate	—		—		—		—

	Fair Value Measurements at December 31, 2014 Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)		Total
Assets:
Impaired Loans with Specific Allocations
Commercial and Industrial Loans	$	—	$	—	$	—	$	—
Commercial Real Estate Loans	—		—		1,504		1,504
Agricultural Loans	—		—		—		—
Other Real Estate
Commercial Real Estate	—		—		68		68

Fair Value Assets and Liabilities Measured on Nonrecurring Basis Valuation Techniques

The following tables present quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at March 31, 2015 and December 31, 2014:

March 30, 2015	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)
Impaired Loans - Commercial and Industrial Loans	$	280	Sales comparison approach	Adjustment for differences between comparable sales	7%-100% (27%)
Impaired Loans - Commercial Real Estate Loans	$	1,481	Sales comparison approach	Adjustment for physical condition of comparable properties sold	30%-86% (71%)

December 31, 2014	Fair Value		Valuation Technique(s)	Unobservable Input(s)	Range (Weighted Average)
Impaired Loans - Commercial Real Estate Loans	$	1,504	Sales comparison approach	Adjustment for physical condition of comparable properties sold	30%-86% (71%)
Other Real Estate - Commercial Real Estate Loans	$	68	Sales comparison approach	Adjustment for physical condition of comparable properties sold	55% (55%)

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 tables below for the periods ending March 31, 2015 and December 31, 2014. 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, 2015 Using
	Carrying Value			Level 1			Level 2			Level 3			Total
Financial Assets:
Cash and Short-term Investments	$	60,967		$	34,277		$	26,690		$	—		$	60,967
Securities Held-to-Maturity	95			—			95			—			95
Loans, Net	1,430,083			—			—			1,430,603			1,430,603
FHLB Stock and Other Restricted Stock	7,200			N/A			N/A			N/A			N/A
Accrued Interest Receivable	8,495			—			2,473			6,022			8,495
Financial Liabilities:
Demand, Savings, and Money Market Deposits	(1,435,741		)	(1,435,741		)	—			—			(1,435,741		)
Time Deposits	(364,658		)	—			(366,015		)	—			(366,015		)
Short-term Borrowings	(114,261		)	—			(114,261		)	—			(114,261		)
Long-term Debt	(64,564		)	—			(60,238		)	(5,353		)	(65,591		)
Accrued Interest Payable	(653		)	—			(610		)	(43		)	(653		)

				Fair Value Measurements at December 31, 2014 Using
	Carrying Value			Level 1			Level 2			Level 3			Total
Financial Assets:
Cash and Short-term Investments	$	42,546		$	33,481		$	9,065		$	—		$	42,546
Securities Held-to-Maturity	184			—			186			—			186
Loans, Net	1,431,549			—			—			1,432,622			1,432,622
FHLB Stock and Other Restricted Stock	7,040			N/A			N/A			N/A			N/A
Accrued Interest Receivable	8,162			—			2,240			5,922			8,162
Financial Liabilities:
Demand, Savings, and Money Market Deposits	(1,446,336		)	(1,446,336		)	—			—			(1,446,336		)
Time Deposits	(333,425		)	—			(335,134		)	—			(335,134		)
Short-term Borrowings	(141,473		)	—			(141,473		)	—			(141,473		)
Long-term Debt	(64,591		)	—			(60,289		)	(5,429		)	(65,718		)
Accrued Interest Payable	(754		)	—			(704		)	(50		)	(754		)