Park Sterling Corp - 10-K filing on 2017-03-10

Note 18 - Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value, by Balance Sheet Grouping [Table Text Block]

					Fair Value Measurements
	Carrying		Estimated		Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
	Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
December 31, 2016:
Financial assets:
Cash and cash equivalents	$	83,614	$	83,614	$	83,614	$	-	$	-
Investment securities available-for-sale		402,501		402,501				401,181		1,320
Investment securities held-to-maturity		91,752		92,828		-		92,828		-
Nonmarketable equity securities		17,501		17,501		-		17,501		-
Loans held for sale		7,996		7,996		-		7,996		-
Loans, net of allowance		2,400,061		2,321,390		-		27,941		2,293,449
Accrued interest receivable		6,799		6,799		-		6,799		-
Derivative instruments		2,290		2,290		-		2,290		-


Financial liabilities:
Deposits with no stated maturity		1,772,680		1,772,680		-		1,772,680		-
Deposits with stated maturities		741,072		744,062		-		744,062		-
Short-term borrowings		285,000		285,000		-		285,000		-
Long-term borrowings		29,736		29,736		-		29,736		-
Subordinated loan and junior subordinated debt		33,501		33,501		-		33,501		-
Accrued interest payable		541		541		-		541		-
Derivative instruments		3,149		3,149		-		3,149		-


December 31, 2015:
Financial assets:
Cash and cash equivalents	$	70,526	$	70,526	$	70,526	$	-	$	-
Investment securities available-for-sale		384,934		384,934				383,434		1,500
Investment securities held-to-maturity		106,458		107,629		-		107,629		-
Nonmarketable equity securities		11,366		11,366		-		11,366		-
Loans held for sale		4,943		4,943		-		4,943		-
Loans, net of allowance		1,732,751		1,674,081		-		32,117		1,641,964
FDIC indemnification asset		943		925		-		-		925
Accrued interest receivable		5,082		5,082		-		5,082		-


Financial liabilities:
Deposits with no stated maturity		1,412,882		1,412,882		-		1,412,882		-
Deposits with stated maturities		539,780		541,823		-		541,823		-
Short-term borrowings		185,000		185,000		-		185,000		-
Long-term borrowings		30,000		30,000		-		30,000		-
Subordinated loan and junior subordinated debt		24,262		24,262		-		24,262		-
Accrued interest payable		515		515		-		515		-
Derivative instruments		7,325		7,325		-		7,325		-

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Assets/ Liabilities at Fair Value

2016 recurring
U.S. Government agencies	$	-	$	-	$	-	$	-
Municipal securities		-		13,319		-		13,319
Residential agency pass-through securities		-		192,765		-		192,765
Residential collateralized mortgage obligations		-		94,410		-		94,410
Commercial mortgage-backed obligations		-		15,497		-		15,497
Asset-backed securities		-		83,951		-		83,951
Corporate and other securities		-		-		1,320		1,320
All other equity securities		1,239		-		-		1,239
Fair value loans		-		27,941		-		27,941
Derivative assets		-		2,290		-		2,290
Derivative liabilities		-		3,149		-		3,149

2015 recurring
U.S. Government agencies	$	-	$	514	$	-	$	514
Municipal securities		-		14,796		-		14,796
Residential agency pass-through securities		-		131,460		-		131,460
Residential collateralized mortgage obligations		-		151,631		-		151,631
Commercial mortgage-backed obligations		-		4,756		-		4,756
Asset-backed securities		-		79,120		-		79,120
Corporate and other securities		-		-		1,500		1,500
All other equity securities		1,157		-		-		1,157
Fair value loans		-		32,117		-		32,117
Derivative assets		-		3,193		-		3,193
Derivative liabilities		-		7,325		-		7,325

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	Securities
	Available
	For Sale
Fair value, December 31, 2014	$	1,570
Change in unrealized gain recognized in other comprehensive income		(70	)
Fair value, December 31, 2015	$	1,500
Change in unrealized gain recognized in other comprehensive income		(180	)
Fair value, December 31, 2016	$	1,320

Fair Value Measurements, Nonrecurring [Table Text Block]

Fair Value on a Nonrecurring Basis

	Quoted Prices
	in Active		Significant
	Markets for		Other		Significant
	Identical		Observable		Unobservable		Assets/
	Assets		Inputs		Inputs		(Liabilities)
Description	(Level 1)		(Level 2)		(Level 3)		at Fair Value

December 31, 2016
OREO	$	-	$	-	$	3,332	$	3,332
Impaired loans:
Commercial and industrial		-		-		-		-
CRE - owner-occupied		-		-		1,078		1,078
CRE - investor income producing		-		-		353		353
AC&D - lots, land, & development		-		-		748		748
Other commercial		-		-		211		211
Residential mortgage		-		-		2,077		2,077
HELOC		-		-		2,438		2,438
Residential construction		-		-		243		243
Other loans to individuals		-		-		-		-

December 31, 2015
OREO	$	-	$	-	$	5,451	$	5,451
Impaired loans:
Commercial and industrial		-		-		-		-
CRE - owner-occupied		-		-		-		-
CRE - investor income producing		-		-		365		365
AC&D - lots, land, & development		-		-		-		-
Other commercial		-		-		-		-
Residential mortgage		-		-		725		725
HELOC		-		-		-		-
Residential construction		-		-		251		251
Other loans to individuals		-		-		-		-

OREO Fair Value Adjustment [Table Text Block]

	December 31,
	2016			2015

OREO	$	(444	)	$	(694	)

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

								Weighted
	Fair Value		Valuation Methodology	Unobservable Inputs	Range of Inputs			Average Discount

OREO	$	3,332	Appraisals	Discount to reflect current market conditions	0%	-	59%		4.91	%


Impaired loans		7,148	Collateral based measurements	Discount to reflect current market conditions and ultimate collectability	0%	-	100%		3.22	%
	$	10,480