The following presents (in thousands) the carrying amount, estimated fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of June 30, 2013 and December 31, 2012.


					Fair Value Measurements
(in thousands)	Carrying Amount		Estimated Fair Value		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
June 30, 2013
Financial assets:
Securities held-to-maturity	$	267,613	$	268,802	$	—	$	268,802	$	—
Loans (1)		1,143,232		1,135,920		—		—		1,135,920
Financial liabilities:
Time deposits		466,492		469,342		—		469,342		—
Other borrowed funds		177,144		181,428		—		181,428		—
Subordinated debentures		36,083		41,129		—		—		41,129

December 31, 2012
Financial assets:
Securities held-to-maturity		275,507		281,924		—		281,924		—
Loans (1)		1,092,591		1,124,716		—		—		1,124,716
Financial liabilities:
Time deposits		419,983		424,253		—		424,253		—
Other borrowed funds		195,144		205,481		—		205,481		—
Subordinated debentures		36,083		43,423		—		—		43,423

(1)	Comprised of loans (including collateral dependent impaired loans), net of deferred loan costs and the allowance for loan losses.