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Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2013
Fair Value of Financial Instruments  
Schedule of fair values of financial instruments

 

 

 

Carrying

 

 

 

 

 

 

 

 

 

(in thousands)

 

amount

 

Fair value

 

Level 1

 

Level 2

 

Level 3

 

September 30, 2013

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

Cash and short-term investments

 

$

70,520

 

$

70,520

 

$

70,520

 

$

 

$

 

Mortgage loans held for sale

 

3,829

 

3,919

 

 

3,919

 

 

Federal Home Loan Bank stock and other securities

 

7,347

 

7,347

 

 

7,347

 

 

Loans, net

 

1,680,268

 

1,692,142

 

 

 

1,692,142

 

Accrued interest receivable

 

5,507

 

5,507

 

5,507

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

1,882,451

 

$

1,885,158

 

$

 

$

1,885,158

 

$

 

Short-term borrowings

 

88,086

 

88,086

 

 

88,086

 

 

Long-term borrowings

 

63,322

 

64,582

 

 

64,582

 

 

Accrued interest payable

 

128

 

128

 

128

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off balance sheet financial instruments

 

 

 

 

 

 

 

 

 

 

 

Commitments to extend credit

 

$

437,249

 

$

 

$

 

$

 

$

 

Standby letters of credit

 

14,814

 

(222

)

 

 

(222

)

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

Cash and short-term investments

 

$

67,703

 

$

67,703

 

$

67,703

 

$

 

$

 

Mortgage loans held for sale

 

14,047

 

14,431

 

 

14,431

 

 

Federal Home Loan Bank stock and other securities

 

6,180

 

6,180

 

 

6,180

 

 

Loans, net

 

1,552,713

 

1,583,018

 

 

 

1,583,018

 

Accrued interest receivable

 

5,091

 

5,091

 

5,091

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

1,781,693

 

$

1,786,046

 

$

 

$

1,786,046

 

$

 

Short-term borrowings

 

75,597

 

75,597

 

 

75,597

 

 

Long-term borrowings

 

62,782

 

62,826

 

 

62,826

 

 

Accrued interest payable

 

166

 

166

 

166

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off balance sheet financial instruments

 

 

 

 

 

 

 

 

 

 

 

Commitments to extend credit

 

$

386,372

 

$

 

$

 

$

 

$

 

Standby letters of credit

 

14,757

 

(221

)

 

 

(221

)