Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis.

	Balance at		Fair Value Measurements Using:
Dollars in thousands	June 30, 2017		Level 1		Level 2		Level 3
Available for sale securities
U.S. Government sponsored agencies	$	24,979	$	—	$	24,979	$	—
Mortgage backed securities:
Government sponsored agencies	128,301		—		128,301		—
Nongovernment sponsored entities	3,313		—		3,313		—
State and political subdivisions	19,241		—		19,241		—
Corporate debt securities	16,089		—		16,089		—
Other equity securities	137		—		137		—
Tax-exempt state and political subdivisions	144,751		—		144,751		—
Total available for sale securities	$	336,811	$	—	$	336,811	$	—
Derivative financial assets
Interest rate swaps	$	132	$	—	$	132	$	—
Derivative financial liabilities
Interest rate swaps	$	3,553	$	—	$	3,553	$	—

	Balance at		Fair Value Measurements Using:
Dollars in thousands	December 31, 2016		Level 1		Level 2		Level 3
Available for sale securities
U.S. Government sponsored agencies	$	15,174	$	—	$	15,174	$	—
Mortgage backed securities:
Government sponsored agencies	138,846		—		138,846		—
Nongovernment sponsored entities	4,653		—		4,653		—
Corporate debt securities	18,170		—		18,170		—
Other equity securities	137		—		137		—
Tax-exempt state and political subdivisions	89,562		—		89,562		—
Total available for sale securities	$	266,542	$	—	$	266,542	$	—
Derivative financial assets
Interest rate swaps	$	200	$	—	$	200	$	—
Derivative financial liabilities
Interest rate swaps	$	4,611	$	—	$	4,611	$	—

Fair Value Measurements, Nonrecurring

Assets measured at fair value on a nonrecurring basis are included in the table below.

	Balance at		Fair Value Measurements Using:
Dollars in thousands	June 30, 2017		Level 1		Level 2		Level 3
Residential mortgage loans held for sale	$	1,054	$	—	$	1,054	$	—
Collateral-dependent impaired loans
Construction and development	$	945	$	—	$	945	$	—
Residential real estate	302		—		130		172
Total collateral-dependent impaired loans	$	1,247	$	—	$	1,075	$	172
Property held for sale
Commercial real estate	$	1,506	$	—	$	1,506	$	—
Construction and development	17,333		—		17,333		—
Residential real estate	550		—		550		—
Total property held for sale	$	19,389	$	—	$	19,389	$	—

	Balance at		Fair Value Measurements Using:
Dollars in thousands	December 31, 2016		Level 1		Level 2		Level 3
Residential mortgage loans held for sale	$	176	$	—	$	176	$	—
Collateral-dependent impaired loans
Construction and development	$	945	$	—	$	945	$	—
Residential real estate	130		—		130		—
Total collateral-dependent impaired loans	$	1,075	$	—	$	1,075	$	—
Property held for sale
Commercial real estate	$	976	$	—	$	976	$	—
Construction and development	19,327		—		19,327		—
Residential real estate	279		—		279		—
Total property held for sale	$	20,582	$	—	$	20,582	$	—

Fair Value, by Balance Sheet Grouping

The carrying values and estimated fair values of our financial instruments are summarized below:

	June 30, 2017				Fair Value Measurements Using:
Dollars in thousands	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	53,536	$	53,536	$	—	$	53,536	$	—
Securities available for sale	336,811		336,811		—		336,811		—
Other investments	13,991		13,991		—		13,991		—
Loans held for sale, net	1,054		1,054		—		1,054		—
Loans, net	1,538,083		1,534,134		—		1,075		1,533,059
Accrued interest receivable	7,570		7,570		—		7,570		—
Derivative financial assets	132		132		—		132		—
	$	1,951,177	$	1,947,228	$	—	$	414,169	$	1,533,059
Financial liabilities
Deposits	$	1,613,919	$	1,632,227	$	—	$	1,632,227	$	—
Short-term borrowings	205,728		205,728		—		205,728		—
Long-term borrowings	45,759		47,331		—		47,331		—
Subordinated debentures owed to unconsolidated subsidiary trusts	19,589		19,589		—		19,589		—
Accrued interest payable	775		775		—		775		—
Derivative financial liabilities	3,553		3,553		—		3,553		—
	$	1,889,323	$	1,909,203	$	—	$	1,909,203	$	—

	December 31, 2016				Fair Value Measurements Using:
Dollars in thousands	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	46,616	$	46,616	$	—	$	46,616	$	—
Securities available for sale	266,542		266,542		—		266,542		—
Other investments	12,942		12,942		—		12,942		—
Loans held for sale, net	176		176		—		176		—
Loans, net	1,307,862		1,321,235		—		1,075		1,320,160
Accrued interest receivable	6,167		6,167		—		6,167		—
Derivative financial assets	200		200		—		200		—
	$	1,640,505	$	1,653,878	$	—	$	333,718	$	1,320,160
Financial liabilities
Deposits	$	1,295,519	$	1,309,820	$	—	$	1,309,820	$	—
Short-term borrowings	224,461		224,461		—		224,461		—
Long-term borrowings	46,670		49,013		—		49,013		—
Subordinated debentures owed to unconsolidated subsidiary trusts	19,589		19,589		—		19,589		—
Accrued interest payable	736		736		—		736		—
Derivative financial liabilities	4,611		4,611		—		4,611		—
	$	1,591,586	$	1,608,230	$	—	$	1,608,230	$	—