Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

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FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 30, 2014
Fair Value Disclosures [Abstract]  
Summary of fair values for assets and liabilities recorded at fair value

A summary of fair values for assets and liabilities consisted of the following:

 

(Dollars in Thousands)   Level 1
Inputs
    Level 2
Inputs
    Level 3
Inputs
    Total Fair
Value
 
September 30, 2014                                
ASSETS:                                
Securities Available for Sale:                                
   U.S. Treasury   $ 165,057     $ —     $ —     $ 165,057  
   U.S. Government Agency     —       94,994       —       94,994  
   States and Political Subdivisions     —       51,140       —       51,140  
   Mortgage-Backed Securities     —       2,361       —       2,361  
   Equity Securities     —       8,745       —       8,745  
LIABILITIES:                                
Fair Value Swap     —       —       161       161  
                                 
December 31, 2013                                
ASSETS:                                
Securities Available for Sale:                                
   U.S. Treasury   $ 71,833     $ —     $ —     $ 71,833  
   U.S. Government Agency     —       75,146       —       75,146  
   State and Political Subdivisions     —       91,753       —       91,753  
   Mortgage-Backed Securities     —       2,795       —       2,795  
   Equity Securities     —       9,893       —       9,893  
Summary of estimated fair values of significant financial instruments

A summary of estimated fair values of significant financial instruments consisted of the following:

 

    September 30, 2014  
(Dollars in Thousands)   Carrying
Value
    Level 1
Inputs
    Level 2
Inputs
    Level 3
Inputs
 
ASSETS:                                
Cash   $ 50,049     $ 50,049     $ —     $ —  
Short-Term Investments     253,974       253,974       —       —  
Investment Securities, Available for Sale     322,297       165,057       157,240       —  
Investment Securities, Held to Maturity     173,188       76,280       96,437       —  
Loans Held for Sale     8,700       —       8,700       —  
Loans, Net of Allowance for Loan Losses     1,395,282       —       —       1,326,357  
                                 
LIABILITIES:                                
Deposits   $ 2,033,578     $ —     $ 2,033,271     $ —  
Short-Term Borrowings     42,586       —       41,998       —  
Subordinated Notes Payable     62,887       —       62,890       —  
Long-Term Borrowings     32,305       —       33,495       —  

 

    December 31, 2013  
(Dollars in Thousands)   Carrying
Value
    Level 1
Inputs
    Level 2
Inputs
    Level 3
Inputs
 
ASSETS:                                
Cash   $ 55,209     $ 55,209     $ —     $ —  
Short-Term Investments     474,719       474,719       —       —  
Investment Securities, Available for Sale     251,420       71,833       179,587       —  
Investment Securities, Held to Maturity     148,211       43,579       103,382       —  
Loans Held for Sale     11,065       —       11,065       —  
Loans, Net of Allowance for Loan Losses     1,365,509       —       —       1,265,827  
                                 
LIABILITIES:                                
Deposits   $ 2,136,248     $ —     $ 2,136,737     $ —  
Short-Term Borrowings     51,321       —       50,754       —  
Subordinated Notes Payable     62,887       —       62,886       —  
Long-Term Borrowings     38,043       —       39,450       —