Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value

Assets measured at fair value are summarized below.

	Fair Value Measurements at March 31, 2014 Using:
Assets:	(Level 1)		(Level 2)		(Level 3)
Assets measured at fair value on a recurring basis:
U.S. Treasury securities and obligations of U.S. Government agencies	$	—	$	52,406	$	—
Obligations of states and political subdivisions		—		83,310		—
Mortgage-backed securities in government sponsored entities		—		67,800		—
Equity securities in financial institutions		—		481		—
Assets measured at fair value on a nonrecurring basis:
Impaired loans	$	—	$	—	$	16,245
Other real estate owned		—		—		196

	Fair Value Measurements at December 31, 2013 Using:
Assets:	(Level 1)		(Level 2)		(Level 3)
Assets measured at fair value on a recurring basis:
U.S. Treasury securities and obligations of U.S. Government agencies	$	—	$	51,560	$	—
Obligations of states and political subdivisions		—		80,625		—
Mortgage-backed securities in government sponsored entities		—		66,979		—
Equity securities in financial institutions		—		449		—
Assets measured at fair value on a nonrecurring basis:
Impaired loans	$	—	$	—	$	15,548
Other real estate owned		—		—		173

Quantitative Information about Level 3 Fair Value Measurements

The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at March 31, 2014.

	Quantitative Information about Level 3 Fair Value Measurements
March 31, 2014	Fair Value Estimate		Valuation Technique	Unobservable Input	Range
Impaired loans	$	16,245	Appraisal of collateral	Appraisal adjustments	10% - 30%
				Liquidation expense	0% - 10%
				Holding period	0 - 30 months
			Discounted cash flows	Discount rates	3.8% - 8.0%
Other real estate owned	$	196	Appraisal of collateral	Appraisal adjustments	10% - 30%
				Liquidation expense	0% - 10%

The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2013.

	Quantitative Information about Level 3 Fair Value Measurements
December 31, 2013	Fair Value Estimate		Valuation Technique	Unobservable Input	Range
Impaired loans	$	15,548	Appraisal of collateral	Appraisal adjustments	10% - 30%
				Liquidation expense	0% - 10%
				Holding period	0 - 30 months
			Discounted cash flows	Discount rates	2% - 8.5%
Other real estate owned	$	173	Appraisal of collateral	Appraisal adjustments	10% - 30%
				Liquidation expense	0% - 10%

Carrying Amount and Fair Values of Financial Instruments

The carrying amount and fair values of financial instruments are as follows.

March 31, 2014	Carrying Amount		Total Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	119,715	$	119,715	$	119,715	$	—	$	—
Securities available for sale		203,997		203,997		—		203,997		—
Other securities		12,414		12,414		12,414		—		—
Loans, held for sale		545		545		545		—		—
Loans, net of allowance for loan losses		840,601		857,601		—		—		857,601
Bank owned life insurance		19,275		19,275		19,275		—		—
Accrued interest receivable		4,202		4,202		4,202		—		—
Financial Liabilities:
Nonmaturing deposits		813,492		813,492		813,492		—		—
Time deposits		231,328		233,610		—		—		233,610
Federal Home Loan Bank advances		37,717		38,004		—		—		38,004
Securities sold under agreement to repurchase		17,949		17,949		17,949		—		—
Subordinated debentures		29,427		22,078		—		—		22,078
Accrued interest payable		151		151		151		—		—

December 31, 2013	Carrying Amount		Total Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	33,883	$	33,883	$	33,883	$	—	$	—
Securities available for sale		199,613		199,613		—		199,613		—
Other securities		15,424		15,424		15,424		—		—
Loans, held for sale		438		438		438		—		—
Loans, net of allowance for loan losses		844,713		861,252		—		—		861,252
Bank owned life insurance		19,145		19,145		19,145		—		—
Accrued interest receivable		3,881		3,881		3,881		—		—
Financial Liabilities:
Nonmaturing deposits		706,126		706,126		706,126		—		—
Time deposits		236,349		237,837		—		—		237,837
Federal Home Loan Bank advances		37,726		38,767		—		—		38,767
Securities sold under agreement to repurchase		20,053		20,053		20,053		—		—
Subordinated debentures		29,427		20,605		—		—		20,605
Accrued interest payable		156		156		156		—		—