Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value

Assets measured at fair value are summarized below.

	Fair Value Measurements at March 31, 2015 Using:
	(Level 1)		(Level 2)		(Level 3)
Assets:
Assets measured at fair value on a recurring basis:
U.S. Treasury securities and obligations of U.S. Government agencies	$	—	$	42,774	$	—
Obligations of states and political subdivisions		—		90,592		—
Mortgage-backed securities in government sponsored entities		—		65,755		—
Equity securities in financial institutions		—		572		—
Fair value of swap asset		—		2,263		—
Fair value of swap liability		—		2,263		—
Assets measured at fair value on a nonrecurring basis:
Impaired loans	$	—	$	—	$	10,061
Other real estate owned		—		—		528
	Fair Value Measurements at December 31, 2014 Using:
	(Level 1)		(Level 2)		(Level 3)
Assets:
Assets measured at fair value on a recurring basis:
U.S. Treasury securities and obligations of U.S. Government agencies	$	—	$	42,902	$	—
Obligations of states and political subdivisions		—		88,021		—
Mortgage-backed securities in government sponsored entities		—		66,442		—
Equity securities in financial institutions		—		540		—
Fair value of swap asset		—		1,721		—
Fair value of swap liability		—		1,721		—
Assets measured at fair value on a nonrecurring basis:
Impaired loans	$	—	$	—	$	10,126
Other real estate owned		—		—		560

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, 2015.

	Quantitative Information about Level 3 Fair Value Measurements
March 31, 2015	Fair Value Estimate		Valuation Technique	Unobservable Input	Range
Impaired loans	$	10,061	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	$	528	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, 2014.

	Quantitative Information about Level 3 Fair Value Measurements
December 31, 2014	Fair Value Estimate		Valuation Technique	Unobservable Input	Range
Impaired loans	$	10,126	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	$	560	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, 2015	Carrying		Total
	Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	142,339	$	142,339	$	142,339	$	—	$	—
Securities available for sale		199,693		199,693		—		199,693		—
Other securities		13,400		13,400		13,400		—		—
Loans, held for sale		2,919		2,919		2,919		—		—
Loans, net of allowance for loan losses		969,790		978,242		—		—		978,242
Bank owned life insurance		19,754		19,754		19,754		—		—
Accrued interest receivable		3,977		3,977		3,977		—		—
Fair value swap asset		2,263		2,263		—		2,263		—
Financial Liabilities:
Nonmaturing deposits		961,503		961,503		961,503		—		—
Time deposits		235,813		237,079		—		—		237,079
Federal Home Loan Bank advances		17,500		17,507		—		—		17,507
Securities sold under agreement to repurchase		21,488		21,488		21,488		—		—
Subordinated debentures		29,427		25,403		—		—		25,403
Accrued interest payable		136		136		136		—		—
Fair value swap liability		2,263		2,263		—		2,263		—

December 31, 2014	Carrying		Total
	Amount		Fair Value		Level 1		Level 2		Level 3
Financial Assets:
Cash and due from financial institutions	$	29,858	$	29,858	$	29,858	$	—	$	—
Securities available for sale		197,905		197,905		—		197,905		—
Other securities		12,586		12,586		12,586		—		—
Loans, held for sale		2,410		2,410		2,410		—		—
Loans, net of allowance for loan losses		900,589		908,118		—		—		908,118
Bank owned life insurance		19,637		19,637		19,637		—		—
Accrued interest receivable		3,852		3,852		3,852		—		—
Fair value swap asset		1,721		1,721		—		1,721		—
Financial Liabilities:
Nonmaturing deposits		748,948		748,948		748,948		—		—
Time deposits		219,970		221,263		—		—		221,263
Federal Home Loan Bank advances		65,200		65,399		—		—		65,399
Securities sold under agreement to repurchase		21,613		21,613		21,613		—		—
Subordinated debentures		29,427		24,688		—		—		24,688
Accrued interest payable		126		126		126		—		—
Fair value swap liability		1,721		1,721		—		1,721		—