| Summary of financial instruments |
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June 30, 2012 |
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December 31, 2011 |
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Carrying
Value |
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Estimated Fair
Value |
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Carrying
Value |
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Estimated Fair
Value |
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(Dollars in thousands) |
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Financial assets
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Cash and due from banks, Federal funds sold and interest bearing deposits in other banks
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$ |
56,619 |
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$ |
56,619 |
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$ |
40,647 |
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$ |
40,647 |
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Securities
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228,788 |
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|
228,788 |
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226,012 |
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226,012 |
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Portfolio loans, net
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850,159 |
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848,393 |
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826,025 |
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825,662 |
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Loans held for sale
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1,207 |
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1,207 |
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3,448 |
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3,448 |
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Accrued interest receivable
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3,604 |
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3,604 |
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3,550 |
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3,550 |
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Financial liabilities
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Deposits:
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Demand, savings and money market
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$ |
527,463 |
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527,463 |
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486,690 |
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486,690 |
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Certificates of deposit
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496,090 |
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500,265 |
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504,390 |
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509,449 |
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Total deposits
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1,023,553 |
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1,027,728 |
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991,080 |
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996,139 |
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Short-term borrowings
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|
827 |
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|
827 |
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|
227 |
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|
227 |
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Federal Home Loan Bank advances
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47,495 |
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48,671 |
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42,497 |
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43,824 |
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Junior subordinated debentures
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16,238 |
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16,645 |
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16,238 |
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16,130 |
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Accrued interest payable
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1,007 |
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1,007 |
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1,118 |
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1,118 |
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| Assets measured by fair value on a recurring basis |
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Description
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Fair Value as of
June 30, 2012 |
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Quoted Prices in Active
Markets for Identical
Assets (Level 1) |
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Significant Other
Observable Inputs
(Level 2) |
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Significant
Unobservable
Inputs
(Level 3) |
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| (Dollars in thousands) |
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Securities available for sale:
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U.S. Government agencies and corporations
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$ |
53,122 |
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$ |
— |
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$ |
53,122 |
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$ |
— |
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Mortgage backed securities
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117,371 |
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— |
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117,371 |
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— |
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Collateralized mortgage obligations
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26,541 |
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— |
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26,541 |
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— |
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State and political subdivisions
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31,754 |
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— |
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31,754 |
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— |
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Total
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$ |
228,788 |
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$ |
— |
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$ |
228,788 |
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$ |
— |
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Description
|
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Fair Value as of
December 31, 2011 |
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Quoted Prices in
Active
Markets for Identical
Assets (Level 1) |
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|
Significant Other
Observable Inputs
(Level 2) |
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Significant
Unobservable
Inputs
(Level 3) |
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| (Dollars in thousands) |
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Securities available for sale:
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U.S. Government agencies and corporations
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$ |
56,881 |
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$ |
— |
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$ |
56,881 |
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$ |
— |
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Mortgage backed securities
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107,037 |
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— |
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107,037 |
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— |
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Collateralized mortgage obligations
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30,237 |
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— |
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30,237 |
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— |
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State and political subdivisions
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31,857 |
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— |
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31,857 |
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— |
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Total
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$ |
226,012 |
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$ |
— |
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$ |
226,012 |
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$ |
— |
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| Balances of assets and liabilities measured at fair value on a nonrecurring basis |
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June 30, 2012
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Quoted Market
Prices in Active
Markets (Level 1) |
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Internal Models with
Significant Observable
Market Parameters
(Level
2) |
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Internal Models with
Significant Unobservable
Market Parameters
(Level
3) |
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Total |
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| (Dollars in thousands) |
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Impaired and nonaccrual loans
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$ |
— |
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$ |
— |
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$ |
29,569 |
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$ |
29,569 |
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Other real estate
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— |
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— |
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1,506 |
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1,506 |
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Total assets at fair value on a nonrecurring basis
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$ |
— |
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$ |
— |
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$ |
31,075 |
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$ |
31,075 |
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December 31, 2011
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Quoted Market
Prices in Active
Markets (Level 1) |
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|
Internal Models with
Significant Observable
Market Parameters
(Level
2) |
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Internal Models with
Significant Unobservable
Market Parameters
(Level
3) |
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Total |
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| (Dollars in thousands) |
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Impaired and nonaccrual loans
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$ |
— |
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$ |
— |
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$ |
33,592 |
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$ |
33,592 |
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Other real estate
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— |
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— |
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|
1,687 |
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1,687 |
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Total assets at fair value on a nonrecurring basis
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$ |
— |
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$ |
— |
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$ |
35,279 |
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$ |
35,279 |
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