C&F Financial (CFFI) 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 03, 2015
Document and Entity Information
Entity Registrant Name	C & F FINANCIAL CORP
Document Type	10-Q
Amendment Flag	false
Entity Central Index Key	913,341
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Common Stock, Shares Outstanding		3,391,468
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and due from banks	$ 9,696	$ 10,749
Interest-bearing deposits in other banks	135,719	156,867
Total cash and cash equivalents	145,415	167,616
Securities—available for sale at fair value, amortized cost of $214,193 and $214,437, respectively	220,807	221,897
Loans held for sale, at fair value	43,882	28,279
Loans, net of allowance for loan losses of $35,726 and $35,606, respectively	840,740	800,198
Restricted stocks, at cost	3,345	3,442
Corporate premises and equipment, net	36,367	37,295
Other real estate owned, net of valuation allowance of $57 and $29, respectively	763	786
Accrued interest receivable	6,654	6,421
Goodwill	14,425	14,425
Core deposit intangible, net	1,838	2,583
Bank-owned life insurance	14,780	14,484
Other assets	44,355	40,761
Total assets	1,373,371	1,338,187
Deposits
Noninterest-bearing demand deposits	198,354	161,839
Savings and interest-bearing demand deposits	505,227	497,755
Time deposits	338,216	366,507
Total deposits	1,041,797	1,026,101
Short-term borrowings	11,792	14,436
Long-term borrowings	142,029	127,488
Trust preferred capital notes	25,130	25,103
Accrued interest payable	687	740
Other liabilities	22,615	20,709
Total liabilities	1,244,050	1,214,577
Shareholders’ equity
Common stock ($1.00 par value, 8,000,000 shares authorized, 3,391,079 and 3,418,750 shares issued and outstanding, respectively, includes, 134,625 and 135,600 of unvested shares, respectively)	3,257	3,283
Additional paid-in capital	8,883	9,456
Retained earnings	114,954	107,785
Accumulated other comprehensive income, net	2,227	3,086
Total shareholders’ equity	129,321	123,610
Total liabilities and shareholders’ equity	$ 1,373,371	$ 1,338,187

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Parenthetical information
Available-for-sale securities, amortized cost	$ 214,193	$ 214,437
Loans, net of allowance for loan losses	35,726	35,606
Other real estate owned, net of valuation allowance	$ 57	$ 29
Common stock par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	8,000,000	8,000,000
Common stock, shares issued	3,391,079	3,418,750
Common stock, shares outstanding	3,391,079	3,418,750
Common
Parenthetical information
Common stock, nonvested shares	134,625	135,600

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Interest income
Interest and fees on loans	$ 21,067	$ 20,050	$ 59,688	$ 59,366
Interest on money market investments and federal funds sold	84	92	270	288
Interest and dividends on securities
U.S. government agencies and corporations	117	172	363	556
Tax-exempt obligations of states and political subdivisions	1,030	1,094	3,156	3,326
Taxable obligations of states and political subdivisions	46	92	138	138
Corporate bonds and other	434	338	1,316	1,170
Total interest income	22,778	21,838	64,931	64,844
Interest expense
Savings and interest-bearing deposits	270	241	819	761
Time deposits	816	745	2,287	2,366
Borrowings	879	889	2,482	2,637
Trust preferred capital notes	294	241	878	713
Total interest expense	2,259	2,116	6,466	6,477
Net interest income	20,519	19,722	58,465	58,367
Provision for loan losses	4,142	4,140	9,812	10,915
Net interest income after provision for loan losses	16,377	15,582	48,653	47,452
Noninterest income
Gains on sales of loans	1,156	1,188	4,803	4,003
Service charges on deposit accounts	1,119	1,179	3,210	3,357
Other service charges and fees	1,883	1,672	5,083	4,668
Investment services income	372	348	1,077	954
Net gains on calls and sales of available for sale securities	22	23	25	26
Other	253	302	1,223	1,700
Total noninterest income	4,805	4,712	15,421	14,708
Noninterest expenses
Salaries and employee benefits	9,107	8,900	29,209	27,208
Occupancy	2,226	2,188	6,606	6,503
Other	4,928	4,483	13,850	14,182
Total noninterest expenses	16,261	15,571	49,665	47,893
Income before income taxes	4,921	4,723	14,409	14,267
Income tax expense	1,444	1,430	4,186	4,340
Net income	$ 3,477	$ 3,293	$ 10,223	$ 9,927
Net income per share - basic (in dollars per share)	$ 1.02	$ 0.97	$ 3.01	$ 2.92
Net income – assuming dilution (in Dollars per share)	$ 1.02	$ 0.97	$ 3.01	$ 2.88
Weighted average number of shares - basic (in shares)	3,392,480	3,405,162	3,400,296	3,403,749
Weighted average number of shares - assuming dilution (in shares)	3,392,480	3,405,308	3,400,437	3,446,472

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
Net income		$ 3,477	$ 3,293	$ 10,223	$ 9,927
Changes in defined benefit plan assets and benefit obligations
Changes in net loss arising during the period	[1]	(29)	40	(87)	24
Tax effect		11	(14)	33	(8)
Amortization of prior service cost arising during the period	[1]	(14)	85	(42)	51
Tax effect		(5)	30	(15)	18
Net of tax amount		(9)	(29)	(27)	(17)
Unrealized gain (loss) on cash flow hedging instruments
Unrealized holding gain (loss) arising during the period		(449)	53	(431)	139
Tax effect		158	(19)	151	(53)
Net of tax amount		(291)	34	(280)	86
Unrealized holding gains (losses) on securities
Unrealized holding gains (losses) arising during the period		1,446	602	(825)	5,715
Tax effect		(506)	(212)	289	(1,993)
Reclassification adjustment for gains included in net income	[2]	(22)	(23)	(25)	(26)
Tax effect		8	8	9	9
Net of tax amount		926	375	(552)	3,705
Other comprehensive income (loss):		626	380	(859)	3,774
Comprehensive income		$ 4,103	$ 3,673	$ 9,364	$ 13,701
[1]	These items are included in the computation of net periodic benefit cost. See Note 7, Employee Benefit Plans, for additional information.
[2]	Gains are included in “Net gains on calls and sales of available for sale securities" on the consolidated statements of income.

Consolidated Statements of Shar

Consolidated Statements of Shareholders’ Equity (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance, beginning of the period at Dec. 31, 2013	$ 3,269	$ 10,686	$ 99,492	$ (266)	$ 113,181
Comprehensive income:
Net income			9,927		9,927
Other comprehensive income (loss)				3,774	3,774
Common stock warrant repurchased		(2,303)			(2,303)
Share-based compensation		721			721
Restricted stock vested	8	(16)			(8)
Common stock issued	2	97			99
Common stock purchased	(3)	(90)			(93)
Cash dividends declared – common stock			(3,029)		(3,029)
Balance, end of period at Sep. 30, 2014	3,276	9,095	106,390	3,508	122,269
Balance, beginning of the period at Dec. 31, 2014	3,283	9,456	107,785	3,086	123,610
Comprehensive income:
Net income			10,223		10,223
Other comprehensive income (loss)				(859)	(859)
Share-based compensation		779			779
Restricted stock vested	13	(13)
Common stock issued	3	98			101
Common stock purchased	(42)	(1,437)			(1,479)
Cash dividends declared – common stock			(3,054)		(3,054)
Balance, end of period at Sep. 30, 2015	$ 3,257	$ 8,883	$ 114,954	$ 2,227	$ 129,321

Consolidated Statements of Sha7

Consolidated Statements of Shareholders’ Equity (Unaudited) (Parentheticals) - $ / shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Unaudited)
Cash dividends paid per share	$ 0.90	$ 0.89

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities:
Net income	$ 10,223	$ 9,927
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,901	2,072
Provision for loan losses	9,812	10,915
Provision for indemnifications	212	182
Provision for other real estate owned losses	(90)
Share-based compensation	779	713
Net accretion of certain acquisition-related fair value adjustments	(1,562)	(2,166)
Accretion of discounts and amortization of premiums on securities, net	1,162	1,075
Gain on sale of securities	(25)	(26)
Net realized gains on sales of other real estate owned	(242)	(206)
Net realized gains on sale of corporate premises and equipment	(37)	(59)
Increase in bank-owned life insurance cash surrender value	(263)	(256)
Origination of loans held for sale	(423,999)	(363,684)
Proceeds from sales of loans held for sale	413,199	367,656
Gains on sales of loans	(4,803)	(4,003)
Change in other assets and liabilities:
Accrued interest receivable	(233)	117
Other assets	(76)	(3,537)
Accrued interest payable	(53)	(52)
Other liabilities	1,417	631
Net cash provided by operating activities	7,502	19,299
Investing activities:
Proceeds from maturities, calls and sales of securities available for sale	24,402	31,864
Purchases of securities available for sale	(24,960)	(28,795)
Net redemptions of restricted stocks	97	646
Purchase of loan portfolio	(16,258)
Net increase in loans	(36,175)	(18,302)
Proceeds from sales of other real estate owned	705	4,767
Purchases of corporate premises and equipment, net	(1,000)	(1,603)
Net cash used in investing activities	(53,189)	(11,423)
Financing activities:
Net increase in demand, interest-bearing demand and savings deposits	43,987	25,881
Net decrease in time deposits	(27,966)	(31,892)
Net increase in borrowings	11,897	651
Repurchase of common stock warrant		(2,303)
Issuance of common stock	101	99
Repurchase of common stock	(1,479)	(93)
Cash dividends	(3,054)	(3,029)
Net cash provided by (used in) financing activities	23,486	(10,686)
Net decrease in cash and cash equivalents	(22,201)	(2,810)
Cash and cash equivalents at beginning of year	167,616	148,139
Cash and cash equivalents at end of period	145,415	145,329
Supplemental disclosure
Interest paid	6,817	7,351
Income taxes paid	450	2,399
Supplemental disclosure of noncash investing and financing activities
Unrealized (losses) gains on securities available for sale	(850)	5,689
Transfers between loans, other real estate owned and repossessed assets	3,814	2,735
Pension adjustment	(45)	(27)
Unrealized (losses) gain on cash flow hedging instruments	$ (431)	$ 139

Adoption of New Accounting Stan

Adoption of New Accounting Standards	9 Months Ended
	Sep. 30, 2015
Adoption of New Accounting Standards
Adoption of New Accounting Standards	NOTE 2: Adoption of New Accounting Standards The Corporation adopted ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Projects, as of January 1, 2015. As permitted by the guidance, the Corporation has elected to amortize the initial cost of investments in affordable housing projects over the period in which the Corporation will receive related tax credits, which approximates the proportional amortization method, and the resulting amortization is recognized as a component of income taxes attributable to continuing operations. Historically, the amortization related to these investments were recognized within noninterest expense. The Corporation adopted this guidance in the first quarter of 2015 with retrospective application as required by ASU 2014-01. Prior period results have been restated to conform to this presentation. As of September 30, 2015 , the carrying value of the Corporation’s aggregate investment in qualified affordable housing projects was $2.59 million and the aggregate commitment to provide additional capital to these investments was $1.26 million. Amortization recognized as a component of income tax expense for the three and nine months ended September 30, 2015 and 2014 was $101,000 and $304,000 , respectively, compared to $104,000 and $311,000 for the three and nine months ended September 30, 2014, respectively.

Securities

Securities	9 Months Ended
	Sep. 30, 2015
Securities
Securities	NOTE 3: Securities Debt and equity securities, all of which are classified as available for sale are summarized as follows: September 30, 2015 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value U.S. government agencies and corporations $ $ $ $ Mortgage-backed securities Obligations of states and political subdivisions $ $ $ $ December 31, 2014 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value U.S. government agencies and corporations $ $ $ $ Mortgage-backed securities Obligations of states and political subdivisions $ $ $ $ The amortized cost and estimated fair value of securities at September 30, 2015 , by the earlier of contractual maturity or expected maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations with or without call or prepayment penalties. September 30, 2015 Amortized (Dollars in thousands) Cost Fair Value Due in one year or less $ $ Due after one year through five years Due after five years through ten years Due after ten years $ $ Proceeds from the maturities, calls and sales of securities available for sale for the three and nine months ended September 30, 2015 were $7.52 million and $24.40 million, respectively, resulting in gross realized gains of $22,000 and $25,000 , respectively. Proceeds from the maturities, calls and sales of securities available for sale for the three and nine months ended September 30, 2014 were $10.31 million and $31.86 million, respectively, resulting in gross realized gains of $42,000 and $45,000 , respectively and gross realized losses of $19,000 and $19,000 , respectively. The Corporation pledges securities primarily as collateral for public deposits and repurchase agreements. Securities with an aggregate amortized cost of $82.97 million and an aggregate fair value of $86.37 million were pledged at September 30, 2015 . Securities with an aggregate amortized cost of $106.31 million and an aggregate fair value of $110.37 million were pledged at December 31, 2014 . Securities in an unrealized loss position at September 30, 2015 , by duration of the period of the unrealized loss, are shown below. Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Loss Value Loss Value Loss U.S. government agencies and corporations $ $ $ $ $ $ Mortgage-backed securities Obligations of states and political subdivisions Total temporarily impaired securities $ $ $ $ $ $ There were 60 debt securities totaling $35.38 million considered temporarily impaired at September 30, 2015. The primary cause of the temporary impairments in the Corporation's investments in debt securities was fluctuations in interest rates. Interest rates decreased during the third quarter of 2015, primarily in the middle and long-end of the United States Treasury yield curve, thereby decreasing unrealized losses on certain of the Corporation's debt securities as compared to June 30, 2015. Prices for debt securities were higher as interest rates declined, primarily due to the Federal Open Market Committee’s decision to delay an anticipated increase in the Federal Funds rate amidst concerns that slowing global growth could hamper the United States economy and a continued decline in commodity prices that lowered the outlook for inflation. Interest rates in the municipal bond sector, which includes the Corporation's obligations of states and political subdivisions, were also lower during the third quarter of 2015, driven by the same economic and financial factors noted above that impacted the overall interest rate environment, lower new issuance volume, and lowered municipal credit risk premiums. At September 30, 2015, approximately 97 percent of the Corporation's obligations of states and political subdivisions, as measured by market value, were rated “A” or better by Standard & Poor's or Moody's Investors Service. Of those in a net unrealized loss position, approximately 95 percent were rated “A” or better, as measured by market value, at September 30, 2015. For the approximately five percent not rated "A" or better, as measured by market value at September 30, 2015, the Corporation considers these to meet regulatory credit quality standards, such that the securities have low risk of default by the obligor, and the full and timely repayment of principal and interest is expected over the expected life of the investment. Because the Corporation intends to hold these investments in debt securities to maturity and it is more likely than not that the Corporation will not be required to sell these investments before a recovery of unrealized losses, the Corporation does not consider these investments to be other-than-temporarily impaired at September 30, 2015 and no other-than-temporary impairment has been recognized. Securities in an unrealized loss position at December 31, 2014, by duration of the period of the unrealized loss, are shown below. Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Loss Value Loss Value Loss U.S. government agencies and corporations $ $ $ $ $ $ Mortgage-backed securities — — Obligations of states and political subdivisions Total temporarily impaired securities $ $ $ $ $ $ The Corporation’s investment in restricted stocks totaled $3. 35 m illion at September 30, 2015 and consisted of $3.20 million of Federal Home Loan Bank (FHLB) stock and $145,000 of Community Bankers Bank (CBB) stock. Restricted stock is generally viewed as a long-term investment and as restricted investment securities, which are carried at cost, because there is no market for the stock, other than the FHLBs or member institutions. Therefore, when evaluating restricted stock for impairment, their respective values are based on the ultimate recoverability of the par value rather than by recognizing temporary declines in value. The Corporation does not consider its investment in restricted stocks to be other-than-temporarily impaired at September 30, 2015 and no impairment has been recognized. Total restricted stocks is shown as a separate line item on the balance sheet and is not a part of the available-for-sale securities portfolio. At December 31, 2014 , the Corporation’s restricted stocks included $3.30 million of FHLB stock and $145,000 of CBB st ock.

Loans

Loans	9 Months Ended
	Sep. 30, 2015
Loans
Loans	NOTE 4: Loans Major classifications of loans are summarized as follows: September 30, December 31, (Dollars in thousands) 2015 2014 Real estate – residential mortgage $ $ Real estate – construction 1 Commercial, financial and agricultural 2 Equity lines Consumer Consumer finance Less allowance for loan losses Loans, net $ $ 1 Includes the Corporation's real estate construction lending and consumer real estate lot lending. 2 Includes the Corporation’s commercial real estate lending, land acquisition and development lending, builder line lending and commercial business lending. Consumer loans included $310,000 and $355,000 of demand deposit overdrafts at September 30, 2015 and December 31, 2014 , respectively. The outstanding principal balance and the carrying amount of loans acquired pursuant to the Corporation's acquisition of CVB (or acquired loans) that were recorded at fair value at the acquisition date and are included in the consolidated balance sheet at September 30, 2015 and December 31, 2014 were as follows: September 30, 2015 December 31, 2014 Acquired Loans - Acquired Loans - Acquired Loans - Acquired Loans - Purchased Purchased Acquired Loans - Purchased Purchased Acquired Loans - (Dollars in thousands) Credit Impaired Performing Total Credit Impaired Performing Total Outstanding principal balance $ $ $ $ $ $ Carrying amount Real estate – residential mortgage $ $ $ $ $ $ Commercial, financial and agricultural 1 Equity lines Consumer — Total acquired loans $ $ $ $ $ $ 1 Includes acquired loans classified by the Corporation as commercial real estate lending, land acquisition and development lending, builder line lending and commercial business lending. Loans on nonaccrual status were as follows: September 30, December 31, (Dollars in thousands) 2015 2014 Real estate – residential mortgage $ $ Real estate – construction: Construction lending — — Consumer lot lending — — Commercial, financial and agricultural: Commercial real estate lending Land acquisition and development lending — — Builder line lending — Commercial business lending — — Equity lines Consumer Consumer finance Total loans on nonaccrual status $ $ The past due status of loans as of September 30, 2015 was as follows: 90+ Days 30 - 59 Days 60 - 89 Days 90+ Days Total Past Due and (Dollars in thousands) Past Due 3 Past Due Past Due Past Due PCI Current 1 Total Loans Accruing 2 Real estate – residential mortgage $ $ $ $ $ $ $ $ Real estate – construction: Construction lending — — — — — — Consumer lot lending — — — — — — Commercial, financial and agricultural: Commercial real estate lending Land acquisition and development lending — — — — — — Builder line lending — — — — Commercial business lending — — Equity lines Consumer — — Consumer finance — — Total $ $ $ $ $ $ $ $ 1 For the purposes of the table above, “Current” includes loans that are 1-29 days past due. 2 Includes purchased credit impaired loans of $171,000 . 3 Commercial real estate loans past due 30-59 days at September 30, 2015 consist of loans to one borrower which were 30 days past due. The scheduled loan payments have since been received. The table above includes the following: · nonaccrual loans that are current of $2.93 million, 30-59 days past due of $73,000 , 60-89 days past due of $696,000 and 90+ days past due of $1.67 million. · performing loans purchased in the acquisition of CVB that are current of $69.25 million, 30-59 days past due of $337,000 , and 90+ days past due of $485,000 . The past due status of loans as of December 31, 2014 was as follows: 90+ Days 30 - 59 Days 60 - 89 Days 90+ Days Total Past Due and (Dollars in thousands) Past Due Past Due Past Due Past Due PCI Current 1 Total Loans Accruing Real estate – residential mortgage $ $ $ $ $ $ $ $ — Real estate – construction: Construction lending — — — — — Consumer lot lending — — — — — Commercial, financial and agricultural: Commercial real estate lending — — Land acquisition and development lending — — — — — Builder line lending — — — — — Commercial business lending — — Equity lines Consumer — Consumer finance — — Total $ $ $ $ $ $ $ $ 1 For the purposes of the table above, “Current” includes loans that are 1-29 days past due. The table above includes the following: · nonaccrual loans that are current of $3 .06 million, 30-59 days past due of $697,000 , 60 ‑89 days past due of $417,000 and 90+ days past due of $1. 77 million. · performing loans purchased in the acquisition of CVB that are current of $ 79.01 million, 30-59 days past due of $ 634,000 , 60-89 days past due of $88,000 and 90+ days past due of $413,000 . Loan modifications that were classified as TDRs during the three and nine months ended September 30, 2015 and 2014 were as follows: Three Months Ended September 30, 2015 2014 Pre- Post- Pre- Post- Modification Modification Modification Modification Number of Recorded Recorded Number of Recorded Recorded (Dollars in thousands) Loans Investment Investment Loans Investment Investment Real estate – residential mortgage – interest reduction $ $ — $ — $ — Commercial, financial and agricultural: Commercial real estate lending – interest reduction — — — Consumer – interest rate concession — — — Total $ $ $ $ Nine Months Ended September 30, 2015 2014 Pre- Post- Pre- Post- Modification Modification Modification Modification Number of Recorded Recorded Number of Recorded Recorded (Dollars in thousands) Loans Investment Investment Loans Investment Investment Real estate – residential mortgage – interest reduction $ $ — $ — $ — Real estate – residential mortgage – interest rate concession Commercial, financial and agricultural: Commercial real estate lending – interest reduction — — — Commercial real estate lending – interest rate concession — — — Commercial business lending – interest rate concession — — — Consumer – interest rate concession — — — Total $ $ $ $ A TDR payment default occurs when, within 12 months of the original TDR modification, either a full or partial charge-off occurs or a TDR becomes 90 days or more past due. There were no TDR defaults during the three and nine months ended September 30, 2015 and 2014 . At September 30, 2015 and December 31, 2014, all impaired loans had an allowance for loan loss established. Impaired loans, which consisted solely of TDRs, and the related allowance at September 30, 2015 were as follows: Average Recorded Unpaid Balance- Interest Investment Principal Related Impaired Income (Dollars in thousands) in Loans Balance Allowance Loans Recognized Real estate – residential mortgage $ $ $ $ $ Commercial, financial and agricultural: Commercial real estate lending Commercial business lending Equity lines Consumer Total $ $ $ $ $ Impaired loans, which included TDR loans of $5.83 million, and the related allowance at December 31, 2014 were as follows: Average Recorded Unpaid Balance- Interest Investment Principal Related Impaired Income (Dollars in thousands) in Loans Balance Allowance Loans Recognized Real estate – residential mortgage $ $ $ $ $ Commercial, financial and agricultural: Commercial real estate lending Commercial business lending Equity lines Consumer Total $ $ $ $ $ PCI loans had an unpaid principal balance of $ 26.91 million and a carrying value of $ 14.82 million at September 30, 2015 . Determining the fair value of purchased credit impaired loans required the Corporation to estimate cash flows expected to result from those loans and to discount those cash flows at appropriate rates of interest. For such loans, the excess of the cash flows expected at acquisition over the estimated fair value is recognized as interest income over the remaining lives of the loans and is called the accretable yield. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition reflects the effect of estimated credit losses and is called the nonaccretable difference, and is not recorded. In accordance with U.S. GAAP, there was no carry-over of previously established allowance for loan losses for acquired loans. The following table presents a summary of the change in the accretable yield of the PCI loan portfolio for the nine months ended September 30, 2015 and 2014 : September 30, (Dollars in thousands) 2015 2014 Accretable yield, balance at beginning of period $ $ Accretion Reclassification of nonaccretable difference due to improvement in expected cash flows Other changes, net Accretable yield, balance at end of period $ $

Allowance for Loan Losses

Allowance for Loan Losses	9 Months Ended
	Sep. 30, 2015
Allowance for Loan Losses
Allowance for Loan Losses	NOTE 5: Allowance for Loan Losses The following table presents the changes in the allowance for loan losses by major classification during the nine months ended September 30, 2015 . Real Estate Commercial, Residential Real Estate Financial & Equity Consumer (Dollars in thousands) Mortgage Construction Agricultural Lines Consumer Finance Total Allowance for loan losses: Balance at December 31, 2014 $ $ $ $ $ $ $ Provision charged to operations Loans charged off — — Recoveries of loans previously charged off — — Balance at September 30, 2015 $ $ $ $ $ $ $ The following table presents the changes in the allowance for loan losses by major classification during the nine months ended September 30, 2014 . Real Estate Commercial, Residential Real Estate Financial & Equity Consumer (Dollars in thousands) Mortgage Construction Agricultural Lines Consumer Finance Total Allowance for loan losses: Balance at December 31, 2013 $ $ $ $ $ $ $ Provision charged to operations — — — — Loans charged off — Recoveries of loans previously charged off — — Balance at September 30, 2014 $ $ $ $ $ $ $ The following table presents, as of September 30, 2015 , the total allowance for loan losses, the allowance by impairment methodology (individually evaluated for impairment, collectively evaluated for impairment or PCI loans), the total loans and loans by impairment methodology (individually evaluated for impairment, collectively evaluated for impairment or PCI loans). Real Estate Commercial, Residential Real Estate Financial & Equity Consumer (Dollars in thousands) Mortgage Construction Agricultural Lines Consumer Finance Total Allowance for loan losses: Balance at September 30, 2015 $ $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ — $ $ $ $ — $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ Ending balance: acquired loans - purchase credit impaired $ — $ — $ $ — $ — $ — $ Loans: Balance at September 30, 2015 $ $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ — $ $ $ $ — $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ Ending balance: acquired loans - purchase credit impaired $ $ — $ $ $ — $ — $ The following table presents, as of December 31, 2014 , the total allowance for loan losses, the allowance by impairment methodology (individually evaluated for impairment or collectively evaluated for impairment), the total loans and loans by impairment methodology (individually evaluated for impairment or collectively evaluated for impairment). Real Estate Commercial, Residential Real Estate Financial & Equity Consumer (Dollars in thousands) Mortgage Construction Agricultural Lines Consumer Finance Total Allowance for loan losses: Ending balance $ $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ — $ $ $ $ — $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ Ending balance: acquired loans - purchase credit impaired $ — $ — $ — $ — $ — $ — $ — Loans: Ending balance $ $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ — $ $ $ $ — $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ Ending balance: acquired loans - purchase credit impaired $ $ — $ $ $ $ — $ Loans by credit quality indicators as of September 30, 2015 were as follows: Special Substandard (Dollars in thousands) Pass Mention Substandard Nonaccrual Total 1 Real estate – residential mortgage $ $ $ $ $ Real estate – construction: Construction lending — — Consumer lot lending — — — Commercial, financial and agricultural: Commercial real estate lending Land acquisition and development lending — Builder line lending Commercial business lending — Equity lines Consumer $ $ $ $ $ 1 At September 30, 2015 , the Corporation did not have any loans classified as Doubtful or Loss. Included in the table above are loans purchased in connection with the acquisition of CVB of $74.34 million pass rated, $4.49 million special mention, $5.42 million substandard and $652,000 substandard nonaccrual. (Dollars in thousands) Performing Non-Performing Total Consumer finance $ $ $ Loans by credit quality indicators as of December 31, 2014 were as follows: Special Substandard (Dollars in thousands) Pass Mention Substandard Nonaccrual Total 1 Real estate – residential mortgage $ $ $ $ $ Real estate – construction: Construction lending — — Consumer lot lending — — — Commercial, financial and agricultural: Commercial real estate lending Land acquisition and development lending — Builder line lending — Commercial business lending — Equity lines Consumer $ $ $ $ $ 1 At December 31, 2014 , the Corporation did not have any loans classified as Doubtful or Loss. Included in the table above are loans purchased in connection with the acquisition of CVB of $87.27 million pass rated, $2.99 million special mention, $10.71 million substandard and $603,000 substandard nonaccrual. (Dollars in thousands) Performing Non-Performing Total Consumer finance $ $ $

Shareholders_ Equity and Earnin

Shareholders’ Equity and Earnings Per Common Share	9 Months Ended
	Sep. 30, 2015
Shareholders’ Equity and Earnings Per Common Share
Shareholders’ Equity, Other Comprehensive Income and Earnings Per Common Share	NOTE 6: Shareholders’ Equity and Earnings Per Common Share Accumulated Other Comprehensive Income The following table presents the cumulative balances of the components of accumulated other comprehensive income, net of deferred taxes of $1.19 million and $1.66 million as of September 30, 2015 and December 31, 2014 , respectively. September 30, December 31, (Dollars in thousands) 2015 2014 Net unrealized gains on securities $ $ Net unrecognized loss on cash flow hedges Net unrecognized losses on defined benefit plan Total accumulated other comprehensive income $ $ Common Shares During the first nine months of 2015 and 2014, 38,759 shares and 2,800 shares, respectively, were purchased under a share repurchase program authorized by the Corporation’s Board of Directors. The Corporation purchased 3,281 and 225 shares of its common stock from employees to satisfy tax withholding obligations arising upon the vesting of restricted shares during the first nine months of 2015 and 2014, respectively. Earnings Per Common Share The components of the Corporation’s earnings per common share calculations are as follows: Three Months Ended September 30, (Dollars in thousands) 2015 2014 Net income $ $ Weighted average number of common shares used in earnings per common share—basic Effect of dilutive securities: Stock option awards and warrant — Weighted average number of common shares used in earnings per common share—assuming dilution Nine Months Ended September 30, (Dollars in thousands) 2015 2014 Net income $ $ Weighted average number of common shares used in earnings per common share—basic Effect of dilutive securities: Stock option awards and warrant Weighted average number of common shares used in earnings per common share—assuming dilution Potential common shares that may be issued by the Corporation for its stock option awards, and when it was outstanding in 2014, the warrant (the Warrant) to purchase common stock of the Corporation originally issued to the United States Department of the Treasury (Treasury) as part of the Corporation’s participation in the Capital Purchase Program, are determined using the treasury stock method. Approximately 88,762 shares issuable upon exercise of options were not included in computing diluted earnings per common share for both the three and nine months ended September 30, 2015 and approximately 164,150 and 145,470 shares issuable upon exercise of options for the three and nine months ended September 30, 2014 , respectively, were not included in computing diluted earnings per common share because they were anti-dilutive. The Corporation repurchased the Warrant from Treasury during the second quarter of 2014. The Corporation has applied the two-class method of computing basic and diluted EPS for each period presented because the Corporation’s unvested restricted shares outstanding contain rights to nonforfeitable dividends. Accordingly, the weighted average number of common shares used in the calculation of basic and diluted EPS includes both vested and unvested common shares outstanding.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2015
Employee Benefit Plans
Employee Benefit Plans	NOTE 7: Employee Benefit Plans The Bank has a non-contributory cash balance pension plan for which the components of net periodic benefit cost are as follows: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2015 2014 2015 2014 Service cost $ $ $ $ Interest cost Expected return on plan assets Amortization of prior service cost Amortization of net loss Net periodic benefit cost $ $ $ $

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	9 Months Ended
	Sep. 30, 2015
Fair Value of Assets and Liabilities
Fair Value of Assets and Liabilities	NOTE 8: Fair Value of Assets and Liabilities Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. U.S. GAAP requires that valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. U.S. GAAP also establishes a fair value hierarchy which prioritizes the valuation inputs into three broad levels. Based on the underlying inputs, each fair value measurement in its entirety is reported in one of the three levels. These levels are: · Level 1—Valuation is based upon quoted prices for identical instruments traded in active markets. Level 1 assets and liabilities include debt and equity securities traded in an active exchange market, as well as U.S. Treasury securities. · Level 2—Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. · Level 3—Valuation is determined using model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect the Corporation's estimates of assumptions that market participants would use in pricing the respective asset or liability. Valuation techniques may include the use of pricing models, discounted cash flow models and similar techniques. U.S. GAAP allows an entity the irrevocable option to elect fair value (the fair value option) for the initial and subsequent measurement for certain financial assets and liabilities on a contract-by-contract basis. The Corporation has elected to use fair value accounting for its entire portfolio of loans held for sale (LHFS). Assets and Liabilities Measured at Fair Value on a Recurring Basis The following describes the valuation techniques and inputs used by the Corporation in determining the fair value of certain assets recorded at fair value on a recurring basis in the financial statements. Securities available for sale. The Corporation primarily values its investment portfolio using Level 2 fair value measurements, but may also use Level 1 or Level 3 measurements if required by the composition of the portfolio. At September 30, 2015 and December 31, 2014 , the Corporation's entire investment securities portfolio was comprised of securities available for sale, which were valued using Level 2 fair value measurements. The Corporation has contracted with third party portfolio accounting service vendors for valuation of its securities portfolio. The vendors’ sources for security valuation are Standard & Poor's Securities Evaluations Inc. (SPSE), Thomson Reuters Pricing Service (TRPS), and Interactive Data Pricing and Reference Data LLC (IDC). Each source provides opinions, known as evaluated prices, as to the value of individual securities based on model-based pricing techniques that are partially based on available market data, including prices for similar instruments in active markets and prices for identical assets in markets that are not active. SPSE and IDC provide evaluated prices for the Corporation's obligations of states and political subdivisions category of securities. Both sources use proprietary pricing models and pricing systems, mathematical tools and judgment to determine an evaluated price for a security based upon a hierarchy of market information regarding that security or securities with similar characteristics. TRPS and IDC provide evaluated prices for the Corporation's U.S. government agencies and corporations and mortgage-backed categories of securities. Fixed-rate callable securities of the U.S. government agencies and corporations category are individually evaluated on an option adjusted spread basis for callable issues or on a nominal spread basis incorporating the term structure of agency market spreads and the appropriate risk free benchmark curve for non-callable issues. Fixed-rate securities issued by the Small Business Association in the U.S. government agencies and corporations category are individually evaluated based upon a hierarchy of security specific information and market data regarding that security or securities with similar characteristics. Pass-through mortgage-backed securities (or MBS) in the mortgage-backed category are grouped into aggregate categories defined by issuer program, weighted average coupon, and weighted average maturity. Each aggregate is benchmarked to a relative mortgage-backed to-be-announced (TBA) or other benchmark price. TBA prices are obtained from market makers and live trading systems. Collateralized mortgage obligations in the mortgage-backed category are individually evaluated based upon a hierarchy of security specific information and market data regarding that security or securities with similar characteristics. Each evaluation is determined using an option adjusted spread and prepayment model based on volatility-driven, multi-dimensional spread tables. Loans held for sale. Fair value of the Corporation's LHFS is based on observable market prices for similar instruments traded in the secondary mortgage loan markets in which the Corporation conducts business. The Corporation's portfolio of LHFS is classified as Level 2. Derivative asset (liability) - IRLCs. The Corporation recognizes IRLCs at fair value. Fair value of IRLCs is based on either (i) the price of the underlying loans obtained from an investor for loans that will be delivered on a best efforts basis or (ii) the observable price for individual loans traded in the secondary market for loans that will be delivered on a mandatory basis. All of the Corporation's IRLCs are classified as Level 2. Derivative asset (liability) - cash flow hedges. The Corporation’s derivative financial instruments have been designated as and qualify as cash flow hedges. The fair value of the Corporation's cash flow hedges is determined using the discounted cash flow method. All of the Corporation's cash flow hedges are classified as Level 2. The following table presents the balances of financial assets measured at fair value on a recurring basis. September 30, 2015 Fair Value Measurements Using Assets at (Dollars in thousands) Level 1 Level 2 Level 3 Fair Value Assets: Securities available for sale U.S. government agencies and corporations $ — $ $ — $ Mortgage-backed securities — — Obligations of states and political subdivisions — — Total securities available for sale — — Loans held for sale — — Derivative asset - IRLC — — Total assets $ — $ $ — $ Liabilities: Derivative liability - cash flow hedges $ — $ $ — $ December 31, 2014 Fair Value Measurements Using Assets at (Dollars in thousands) Level 1 Level 2 Level 3 Fair Value Assets: Securities available for sale U.S. government agencies and corporations $ — $ $ — $ Mortgage-backed securities — — Obligations of states and political subdivisions — — Total securities available for sale — — Loans held for sale — — Derivative asset - IRLC — — Derivative asset - cash flow hedges — — Total assets $ — $ $ — $ Liabilities: Derivative liability - cash flow hedges $ — $ $ — $ Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The Corporation may be required, from time to time, to measure and recognize certain assets at fair value on a nonrecurring basis in accordance with U.S. GAAP. The following describes the valuation techniques and inputs used by the Corporation in determining the fair value of certain assets recorded at fair value on a nonrecurring basis in the financial statements. Impaired loans. The Corporation does not record loans held for investment at fair value on a recurring basis. However, there are instances when a loan is considered impaired and an allowance for loan losses is established. A loan is considered impaired when it is probable that the Corporation will be unable to collect all interest and principal payments as scheduled in the loan agreement. All TDRs are considered impaired loans. The Corporation measures impairment on a loan-by-loan basis for commercial, construction and residential loans in excess of $500,000 by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Additionally, management reviews current market conditions, borrower history, past experience with similar loans and economic conditions. Based on management's review, additional write-downs to fair value may be incurred. The Corporation maintains a valuation allowance to the extent that the measure of the impaired loan is less than the recorded investment. When the fair value of an impaired loan is based solely on observable cash flows, market price or a current appraisal, the Corporation records the impaired loan as nonrecurring Level 2. However, if based on management's review, additional write-downs to fair value are required or if the impaired loan otherwise does not meet the standards for Level 2 classification, the Corporation records the impaired loan as nonrecurring Level 3. The measurement of impaired loans of less than $500,000 is based on each loan's future cash flows discounted at the loan's effective interest rate rather than the market rate of interest, which is not a fair value measurement and is therefore excluded from fair value disclosure requirements. Other real estate owned (OREO). Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less costs to sell at the date of foreclosure. Initial fair value is based upon appraisals the Corporation obtains from independent licensed appraisers. Subsequent to foreclosure, management periodically performs valuations of the foreclosed assets based on updated appraisals, general market conditions, recent sales of like properties, length of time the properties have been held, and our ability and intention with regard to continued ownership of the properties. The Corporation may incur additional write-downs of foreclosed assets to fair value less costs to sell if valuations indicate a further other-than-temporary deterioration in market conditions. As such, we record OREO as nonrecurring Level 3. The following table presents the balances of financial assets measured at fair value on a non-recurring basis. September 30, 2015 Fair Value Measurements Using Assets at Fair (Dollars in thousands) Level 1 Level 2 Level 3 Value Impaired loans, net $ — $ — $ $ Other real estate owned, net — — Total $ — $ — $ $ December 31, 2014 Fair Value Measurements Using Assets at Fair (Dollars in thousands) Level 1 Level 2 Level 3 Value Impaired loans, net $ — $ — $ $ Other real estate owned, net — — Total $ — $ — $ $ The following table presents quantitative information about Level 3 fair value measurements for financial assets measured at fair value on a non-recurring basis as of September 30, 2015 : Fair Value Measurements at September 30, 2015 (Dollars in thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range of Inputs Impaired loans, net $ Appraisals Discount to reflect current market conditions and estimated selling costs 10% - 60% Other real estate owned, net Appraisals Discount to reflect current market conditions and estimated selling costs 0% - 65% Total $ Fair Value of Financial Instruments FASB ASC 825, Financial Instruments , requires disclosure about fair value of financial instruments, including those financial assets and financial liabilities that are not required to be measured and reported at fair value on a recurring or nonrecurring basis. ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Corporation. The following describes the valuation techniques used by the Corporation to measure certain of its financial instruments at fair value as of September 30, 2015 and December 31, 2014 . Cash and short-term investments. The nature of these instruments and their relatively short maturities provide for the reporting of fair value equal to the historical cost. Loans, net. The fair value of performing loans is estimated using a discounted expected future cash flows analysis based on current rates being offered on similar products in the market. An overall valuation adjustment is made for specific credit risks as well as general portfolio risks. Based on the valuation methodologies used in assessing the fair value of loans and the associated valuation allowance, these loans are considered Level 3. Loan totals, as listed in the table below, include impaired loans. For valuation techniques used in relation to impaired loans, see the Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis section in this Note 8. Accrued interest receivable. The carrying amount of accrued interest receivable approximates fair value. Bank-owned life insurance (BOLI). The fair value of BOLI is estimated using information provided by insurance carriers. These policies are carried at their cash surrender value, which approximates the fair value. Deposits. The fair value of all demand deposit accounts is the amount payable at the report date. For all other deposits, the fair value is determined using the discounted cash flow method. The discount rate was equal to the rate currently offered on similar products in active markets (Level 2). Borrowings. The fair value of borrowings is determined using the discounted cash flow method. The discount rate was equal to the rate currently offered on similar products in active markets (Level 2). Accrued interest payable. The carrying amount of accrued interest payable approximates fair value. Letters of credit. The estimated fair value of letters of credit is based on estimated fees the Corporation would pay to have another entity assume its obligation under the outstanding arrangements. These fees are not considered material. Unused portions of lines of credit. The estimated fair value of unused portions of lines of credit is based on estimated fees the Corporation would pay to have another entity assume its obligation under the outstanding arrangements. These fees are not considered material. The following tables reflect the carrying amounts and estimated fair values of the Corporation's financial instruments whether or not recognized on the balance sheet at fair value. Carrying Fair Value Measurements at September 30, 2015 Using Total Fair (Dollars in thousands) Value Level 1 Level 2 Level 3 Value Financial assets: Cash and short-term investments $ $ $ — $ — $ Securities available for sale — — Loans, net — — Loans held for sale — — Derivative asset - IRLC — — Bank-owned life insurance — — Accrued interest receivable — — Financial liabilities: Demand deposits $ $ $ — $ — $ Time deposits — — Borrowings — — Derivative liability - cash flow hedges — — Accrued interest payable — — Carrying Fair Value Measurements at December 31, 2014 Using Total Fair (Dollars in thousands) Value Level 1 Level 2 Level 3 Value Financial assets: Cash and short-term investments $ $ $ — $ — $ Securities available for sale — — Loans, net — — Loans held for sale — — Derivative asset - IRLC — — Derivative asset - cash flow hedges — — Bank-owned life insurance — — Accrued interest receivable — — Financial liabilities: Demand deposits $ $ $ — $ — $ Time deposits — — Borrowings — — Derivative liability - cash flow hedges — — Accrued interest payable — — The Corporation assumes interest rate risk (the risk that general interest rate levels will change) as a result of its normal operations. As a result, the fair values of the Corporation’s financial instruments will change when interest rate levels change and that change may be either favorable or unfavorable to the Corporation. Management attempts to match maturities of assets and liabilities to the extent believed necessary to balance minimizing interest rate risk and increasing net interest income in current market conditions. However, borrowers with fixed rate obligations are less likely to prepay in a rising rate environment and more likely to prepay in a falling rate environment. Conversely, depositors who are receiving fixed rates are more likely to withdraw funds before maturity in a rising rate environment and less likely to do so in a falling rate environment. Management monitors interest rates, maturities and repricing dates of assets and liabilities and attempts to manage interest rate risk by adjusting terms of new loans, deposits and borrowings and by investing in securities with terms that mitigate the Corporation’s overall interest rate risk.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2015
Business Segments
Business Segments	NOTE 9: Business Segments The Corporation operates in a decentralized fashion in three principal business segments: Retail Banking, Mortgage Banking and Consumer Finance. Revenues from Retail Banking operations consist primarily of interest earned on loans and investment securities and service charges on deposit accounts. Mortgage Banking operating revenues consist principally of gains on sales of loans in the secondary market, loan origination fee income and interest earned on mortgage loans held for sale. Revenues from Consumer Finance consist primarily of interest earned on purchased automobile retail installment sales contracts. The Corporation’s other segment includes a full-service brokerage firm that derives revenues from brokerage services and an insurance company that derives revenues from insurance services. The results of the other segment are not significant to the Corporation as a whole and have been included in “Other.” Revenue and expenses of the Corporation are also included in “Other,” and consist primarily of interest expense associated with the Corporation’s trust preferred capital notes and other general corporate expenses. Three Months Ended September 30, 2015 Retail Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Revenues: Interest income $ $ $ $ — $ $ Gains on sales of loans — — — — Other noninterest income — Total operating income Expenses: Provision for loan losses — — — Interest expense Salaries and employee benefits — Other noninterest expenses — Total operating expenses Income (loss) before income taxes — Income tax expense (benefit) — Net income (loss) $ $ $ $ $ — $ Total assets $ $ $ $ $ $ Goodwill $ $ — $ $ — $ — $ Capital expenditures $ $ $ $ $ — $ Three Months Ended September 30, 2014 Retail Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Revenues: Interest income $ $ $ $ — $ $ Gains on sales of loans — — — — Other noninterest income — Total operating income Expenses: Provision for loan losses — — — Interest expense Salaries and employee benefits — Other noninterest expenses — Total operating expenses Income (loss) before income taxes — Income tax expense (benefit) — Net income (loss) $ $ $ $ $ — $ Total assets $ $ $ $ $ $ Goodwill $ $ — $ $ — $ — $ Capital expenditures $ $ $ $ — $ — $ Nine Months Ended September 30, 2015 Retail Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Revenues: Interest income $ $ $ $ — $ $ Gains on sales of loans — — — — Other noninterest income — Total operating income Expenses: Provision for loan losses — — — Interest expense Salaries and employee benefits — Other noninterest expenses — Total operating expenses Income (loss) before income taxes — Income tax expense (benefit) — Net income (loss) $ $ $ $ $ — $ Total assets $ $ $ $ $ $ Goodwill $ $ — $ $ — $ — $ Capital expenditures $ $ $ $ $ — $ Nine Months Ended September 30, 2014 Retail Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Revenues: Interest income $ $ $ $ — $ $ Gains on sales of loans — — — — Other noninterest income — Total operating income Expenses: Provision for loan losses — — — Interest expense Salaries and employee benefits — Other noninterest expenses — Total operating expenses Income (loss) before income taxes — Income tax expense (benefit) — Net income (loss) $ $ $ $ $ — $ Total assets $ $ $ $ $ $ Goodwill $ $ — $ $ — $ — $ Capital expenditures $ $ $ $ $ — $ The Retail Banking segment extends a warehouse line of credit to the Mortgage Banking segment, providing a portion of the funds needed to originate mortgage loans. The Retail Banking segment charges the Mortgage Banking segment interest at the daily FHLB advance rate plus 50 basis points. The Retail Banking segment also provides the Consumer Finance segment with a portion of the funds needed to purchase loan contracts by means of variable rate notes that carry interest at one-month LIBOR plus 200 basis points and fixed rate notes that carry interest rates ranging from 3.8 percent to 8.0 percent. The Retail Banking segment acquires certain residential real estate loans from the Mortgage Banking segment at prices similar to those paid by third-party investors. These transactions are eliminated to reach consolidated totals. Certain corporate overhead costs incurred by the Retail Banking segment are not allocated to the Mortgage Banking, Consumer Finance and Other segments.

Commitments and Financial Instr

Commitments and Financial Instruments with Off-Balance-Sheet Risk	9 Months Ended
	Sep. 30, 2015
Commitments and Financial Instruments with Off-Balance-Sheet Risk
Commitments and Financial Instruments with Off-Balance-Sheet Risk	NOTE 10: Commitments and Financial Instruments with Off-Balance-Sheet Risk C&F Mortgage enters into IRLCs with customers and will sell the underlying loans to investors on either a best efforts or a mandatory delivery basis. C&F Mortgage mitigates interest rate risk on IRLCs and loans held for sale by (a) entering into forward loan sales contracts with investors for loans to be delivered on a best efforts basis or (b) entering into forward sales contracts of MBS for loans to be delivered on a mandatory basis. Both the IRLCs with customers and the forward sales contracts are considered derivative financial instruments. At September 30, 2015 , the Corporation had forward sales contracts with a notional value of $ 102.7 million, and each loan held for sale by C&F Mortgage was subject to a forward sales agreement. The fair value of these derivative instruments at September 30, 2015 was $823,000 , which was included in other assets. C&F Mortgage sells substantially all of the residential mortgage loans it originates to third-party counterparties. As is customary in the industry, the agreements with these counterparties require C&F Mortgage to extend representations and warranties with respect to program compliance, borrower misrepresentation, fraud, and early payment performance. Under the agreements, the counterparties are entitled to make loss claims and repurchase requests of C&F Mortgage for loans that contain covered deficiencies. C&F Mortgage has obtained early payment default recourse waivers for a significant portion of its business. Recourse periods for early payment default for the remaining counterparties vary from 90 days up to one year. Recourse periods for borrower misrepresentation or fraud, or underwriting error do not have a stated time limit. C&F Mortgage maintains an indemnification reserve for potential claims made under these recourse provisions. The following table presents the changes in the allowance for indemnification losses for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2015 2014 2015 2014 Allowance, beginning of period $ $ $ $ Provision for indemnification losses Payments — Allowance, end of period $ $ $ $

Interest Rate Swaps

Interest Rate Swaps	9 Months Ended
	Sep. 30, 2015
Interest Rate Swaps
Interest Rate Swaps	NOTE 11: Interest Rate Swaps The Corporation uses interest rate swaps to manage exposure of its trust preferred capital notes to interest rate risk. Interest rate swaps involve the exchange of fixed and variable rate interest payments between two parties, based on a common notional principal amount and maturity date with no exchange of underlying principal amounts. The Corporation’s interest rate swaps qualify as cash flow hedges. The Corporation’s cash flow hedges effectively modify the Corporation’s exposure to interest rate risk by converting variable rates of interest on $10.00 million and $15.00 million of the Corporation’s trust preferred capital notes to fixed rates of interest until September 2020 and December 2019, respectively. The cash flow hedges total notional amount is $25.00 million. At September 30, 2015 , the $15.0 million of cash flow hedges entered into during 2014 had a fair value of ($283,000) , which is recorded in other liabilities, and the remaining $10.0 million of cash flow hedges had a fair value of ($251,000) , which is also recorded in other liabilities. The cash flow hedges were fully effective at September 30, 2015 and therefore the net loss on the cash flow hedges was recognized as a component of other comprehensive income (loss), net of deferred income taxes.

Other Noninterest Expenses

Other Noninterest Expenses	9 Months Ended
	Sep. 30, 2015
Other Noninterest Expenses
Other Noninterest Expenses	NOTE 12: Other Noninterest Expenses The following table presents the significant components in the statements of income line “Noninterest Expenses-Other.” Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2015 2014 2015 2014 Data processing fees $ $ $ $ Professional fees Telecommunication expenses Amortization of core deposit intangible Travel and educational expenses FDIC insurance expense Marketing and advertising expenses All other noninterest expenses Total other noninterest expenses $ $ $ $

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	9 Months Ended
	Sep. 30, 2015
Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation: The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial reporting and with applicable quarterly reporting regulations of the Securities and Exchange Commission (the SEC). They do not include all of the information and notes required by U.S. GAAP for complete financial statements. Therefore, these consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the C&F Financial Corporation Annual Report on Form 10-K for the year ended December 31, 2014. The unaudited consolidated financial statements include the accounts of C&F Financial Corporation (the Corporation) and its wholly-owned subsidiary, Citizens and Farmers Bank (the Bank or C&F Bank). All significant intercompany accounts and transactions have been eliminated in consolidation. In addition, the Corporation owns C&F Financial Statutory Trust I, C&F Financial Statutory Trust II and Central Virginia Bankshares Statutory Trust I, all of which are unconsolidated subsidiaries. The subordinated debt owed to these trusts is reported as a liability of the Corporation.
Nature of Operations	Nature of Operations: The Corporation is a bank holding company incorporated under the laws of the Commonwealth of Virginia. The Corporation owns all of the stock of its subsidiary, C&F Bank, which is an independent commercial bank chartered under the laws of the Commonwealth of Virginia. On October 1, 2013, the Corporation acquired Central Virginia Bankshares, Inc. (CVBK) and its wholly-owned subsidiary, Central Virginia Bank (CVB), which was an independent commercial bank chartered under the laws of the Commonwealth of Virginia. On March 22, 2014, CVBK was merged with and into C&F Financial Corporation and CVB was merged with and into C&F Bank. The Bank has five wholly-owned active subsidiaries: C&F Mortgage Corporation and Subsidiaries (C&F Mortgage), C&F Finance Company (C&F Finance), C&F Wealth Management Corporation (formerly C&F Investment Services, Inc.), C&F Insurance Services, Inc. and CVB Title Services, Inc., all incorporated under the laws of the Commonwealth of Virginia. C&F Mortgage, organized in September 1995, was formed to originate and sell residential mortgages and through its subsidiary, Certified Appraisals LLC, provides ancillary mortgage loan production services for residential appraisals, and through its subsidiary, Lender Solutions LLC, provides loan origination processing services to third parties. C&F Finance, acquired on September 1, 2002, is a finance company providing automobile loans through indirect lending programs. C&F Wealth Management Corporation, organized in April 1995 and renamed in May 2015, is a full-service brokerage firm offering a comprehensive range of investment services. C&F Insurance Services, Inc., organized in July 1999, owns an equity interest in an insurance agency that sells insurance products to customers of C&F Bank, C&F Mortgage and other financial institutions that have an equity interest in the agency. CVB Title Services, Inc., was organized for the primary purpose of owning membership interests in two insurance-related limited liability companies. Business segment data is presented in Note 9.
Basis of Presentation	Basis of Presentation: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the allowance for indemnifications, impairment of loans, projected cash flows of purchased credit impaired loans, impairment of securities, the valuation of other real estate owned, the projected benefit obligation under the defined benefit pension plan, the valuation of deferred taxes, fair value measurements and goodwill impairment. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair presentation of the results of operations in these financial statements, have been made.
Reclassifications	Reclassification: Certain reclassifications have been made to prior period amounts to conform to the current period presentation. None of these reclassifications are considered material. See Note 2 for additional information about reclassifications related to the adoption of new accounting standards.
Derivative Financial Instruments	Derivative Financial Instruments: The Corporation recognizes derivative financial instruments at fair value as either an other asset or other liability in the consolidated balance sheet. The Corporation’s derivative financial instruments as of September 30, 2015 and December 31, 2014 consisted of (1) the fair value of interest rate lock commitments (IRLCs) on mortgage loans that will be sold in the secondary market and the related forward commitments to sell mortgage loans and (2) interest rate swaps that qualified as cash flow hedges on the Corporation's trust preferred capital notes. Because the IRLCs and forward sales commitments are not designated as hedging instruments, adjustments to reflect unrealized gains and losses resulting from changes in fair value of the Corporation's IRLCs and forward sales commitments and realized gains and losses upon ultimate sale of the loans are classified as noninterest income. The effective portion of the gain or loss on the Corporation's cash flow hedges is reported as a component of other comprehensive income, net of deferred income taxes, and reclassified into earnings in the same period or period(s) during which the hedged transactions affect earnings.
Share-Based Compensation	Share-Based Compensation: Compensation expense for the third quarter and first nine months of 2015 included expense, net of forfeitures, of $204,000 ( $126,000 after tax) and $779,000 ( $483,000 after tax), respectively, for restricted stock granted during 2010 through 2015. As of September 30, 2015 , there was $2.41 million of total unrecognized compensation expense related to unvested restricted stock that will be recognized over the remaining requisite service periods.
Recent Significant Accounting Pronouncements	Recent Significant Accounting Pronouncements: In January 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-01, Investments-Equity Method and Joint Ventures - Accounting for Investments in Qualified Affordable Housing Projects (a consensus of the FASB Emerging Issues Task Force) . The amendments in this ASU permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in this ASU should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those preexisting investments. The amendments in this ASU became effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. The adoption of ASU 2014-01 did not have a material effect on the Corporation’s financial statements. The adoption of ASU 2014-01 is described further in Note 2. In May 2015, the FASB issued ASU No. 2015-08, “ Business Combinations (Topic 805): Pushdown Accounting – Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 .” The amendments in ASU 2015-08 amend various paragraphs in the ASC regarding positions of the staff of the SEC pursuant to the issuance of Staff Accounting Bulletin No. 115, Topic 5: Miscellaneous Accounting, regarding various pushdown accounting issues, and did not have a material effect on our financial statements. In July 2015, the FASB issued ASU No. 2015-12, “Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), and Health and Welfare Benefit Plans (Topic 965) – 1. Fully Benefit-Responsive Investment Contracts, 2. Plan Investment Disclosures, and 3. Measurement Date Practical Expedient.” The amendments within this ASU are in 3 parts. Among other things, Part I amendments designate contract value as the only required measure for fully benefit-responsive investment contracts; Part II amendments eliminate the requirement that plans disclose: (a) individual investments that represent 5 percent or more of net assets available for benefits; and (b) the net appreciation or depreciation for investments by general type requirements for both participant-directed investments and nonparticipant-directed investments; and Part III amendments provide a practical expedient to permit plans to measure investments and investment-related accounts (e.g., a liability for a pending trade with a broker) as of a month-end date that is closest to the plan’s fiscal year-end, when the fiscal period does not coincide with month-end. The amendments in Parts I and II of this ASU are effective on a retrospective basis and Part III is effective on a prospective basis, for fiscal years beginning after December 15, 2015. Early adoption is permitted. The Corporation is currently assessing the effect that ASU 2015-12 will have on its financial statements. In September 2015, the FASB issued ASU 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments.” The amendments in ASU 2015-16 require that an acquirer recognize adjustments to estimated amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the estimated amounts, calculated as if the accounting had been completed at the acquisition date. The amendments also require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the estimated amounts had been recognized as of the acquisition date. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. The amendments should be applied prospectively to adjustments to provisional amounts that occur after the effective date with earlier application permitted for financial statements that have not been issued. The Corporation does not expect the adoption of ASU 2015-16 to have a material effect on its financial statements. Other accounting standards that have been issued by the FASB or other standards-setting bodies are not expected to have a material impact on the Corporation’s financial position, results of operations or cash flows.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2015
Summary of Significant Accounting Policies
Summary of activity for restricted stock awards	Weighted- Average Grant Date Shares Fair Value Unvested, January 1, 2015 $ Granted Vested Forfeitures Unvested, September 30, 2015 $ Weighted- Average Grant Date Shares Fair Value Unvested, January 1, 2014 $ Granted Vested Forfeitures Unvested, September 30, 2014 $
Schedule of stock option transactions	Intrinsic Value of Unexercised Remaining In-The Contractual Money Exercise Life Options Shares Price* (in years)* (in 000’s) Options outstanding and exercisable at January 1, 2015 $ $ — Expired $ Options outstanding and exercisable at September 30, 2015 $ $ — * Weighted average Intrinsic Value of Unexercised Remaining In-The Contractual Money Exercise Life Options Shares Price* (in years)* (in 000’s) Options outstanding and exercisable at January 1, 2014 $ $ Expired $ Options outstanding and exercisable at September 30, 2014 $ $ — * Weighted average

Securities (Tables)

Securities (Tables)	9 Months Ended
	Sep. 30, 2015
Securities
Summary of available for sale securities	September 30, 2015 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value U.S. government agencies and corporations $ $ $ $ Mortgage-backed securities Obligations of states and political subdivisions $ $ $ $ December 31, 2014 Gross Gross Amortized Unrealized Unrealized (Dollars in thousands) Cost Gains Losses Fair Value U.S. government agencies and corporations $ $ $ $ Mortgage-backed securities Obligations of states and political subdivisions $ $ $ $
Schedule of amortized cost and estimated fair value of securities, by contractual maturity date	September 30, 2015 Amortized (Dollars in thousands) Cost Fair Value Due in one year or less $ $ Due after one year through five years Due after five years through ten years Due after ten years $ $
Schedule of securities in an unrealized loss position	Securities in an unrealized loss position at September 30, 2015 , by duration of the period of the unrealized loss, are shown below. Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Loss Value Loss Value Loss U.S. government agencies and corporations $ $ $ $ $ $ Mortgage-backed securities Obligations of states and political subdivisions Total temporarily impaired securities $ $ $ $ $ $ Securities in an unrealized loss position at December 31, 2014 , by duration of the period of the unrealized loss, are shown below. Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Loss Value Loss Value Loss U.S. government agencies and corporations $ $ $ $ $ $ Mortgage-backed securities — — Obligations of states and political subdivisions Total temporarily impaired securities $ $ $ $ $ $

Loans (Tables)

Loans (Tables)	9 Months Ended
	Sep. 30, 2015
Loans
Summary of major classifications of loans	September 30, December 31, (Dollars in thousands) 2015 2014 Real estate – residential mortgage $ $ Real estate – construction 1 Commercial, financial and agricultural 2 Equity lines Consumer Consumer finance Less allowance for loan losses Loans, net $ $ 1 Includes the Corporation's real estate construction lending and consumer real estate lot lending. 2 Includes the Corporation’s commercial real estate lending, land acquisition and development lending, builder line lending and commercial business lending.
Schedule of acquired loans	September 30, 2015 December 31, 2014 Acquired Loans - Acquired Loans - Acquired Loans - Acquired Loans - Purchased Purchased Acquired Loans - Purchased Purchased Acquired Loans - (Dollars in thousands) Credit Impaired Performing Total Credit Impaired Performing Total Outstanding principal balance $ $ $ $ $ $ Carrying amount Real estate – residential mortgage $ $ $ $ $ $ Commercial, financial and agricultural 1 Equity lines Consumer — Total acquired loans $ $ $ $ $ $ 1 Includes acquired loans classified by the Corporation as commercial real estate lending, land acquisition and development lending, builder line lending and commercial business lending.
Schedule of loans on nonaccrual status	September 30, December 31, (Dollars in thousands) 2015 2014 Real estate – residential mortgage $ $ Real estate – construction: Construction lending — — Consumer lot lending — — Commercial, financial and agricultural: Commercial real estate lending Land acquisition and development lending — — Builder line lending — Commercial business lending — — Equity lines Consumer Consumer finance Total loans on nonaccrual status $ $
Schedule of past due status of loans	The past due status of loans as of September 30, 2015 was as follows: 90+ Days 30 - 59 Days 60 - 89 Days 90+ Days Total Past Due and (Dollars in thousands) Past Due 3 Past Due Past Due Past Due PCI Current 1 Total Loans Accruing 2 Real estate – residential mortgage $ $ $ $ $ $ $ $ Real estate – construction: Construction lending — — — — — — Consumer lot lending — — — — — — Commercial, financial and agricultural: Commercial real estate lending Land acquisition and development lending — — — — — — Builder line lending — — — — Commercial business lending — — Equity lines Consumer — — Consumer finance — — Total $ $ $ $ $ $ $ $ 1 For the purposes of the table above, “Current” includes loans that are 1-29 days past due. 2 Includes purchased credit impaired loans of $171,000 . 3 Commercial real estate loans past due 30-59 days at September 30, 2015 consist of loans to one borrower which were 30 days past due. The scheduled loan payments have since been received. The table above includes the following: · nonaccrual loans that are current of $2.93 million, 30-59 days past due of $73,000 , 60-89 days past due of $696,000 and 90+ days past due of $1.67 million. · performing loans purchased in the acquisition of CVB that are current of $69.25 million, 30-59 days past due of $337,000 , and 90+ days past due of $485,000 . The past due status of loans as of December 31, 2014 was as follows: 90+ Days 30 - 59 Days 60 - 89 Days 90+ Days Total Past Due and (Dollars in thousands) Past Due Past Due Past Due Past Due PCI Current 1 Total Loans Accruing Real estate – residential mortgage $ $ $ $ $ $ $ $ — Real estate – construction: Construction lending — — — — — Consumer lot lending — — — — — Commercial, financial and agricultural: Commercial real estate lending — — Land acquisition and development lending — — — — — Builder line lending — — — — — Commercial business lending — — Equity lines Consumer — Consumer finance — — Total $ $ $ $ $ $ $ $ 1 For the purposes of the table above, “Current” includes loans that are 1-29 days past due. The table above includes the following: · nonaccrual loans that are current of $3 .06 million, 30-59 days past due of $697,000 , 60 ‑89 days past due of $417,000 and 90+ days past due of $1. 77 million. · performing loans purchased in the acquisition of CVB that are current of $ 79.01 million, 30-59 days past due of $ 634,000 , 60-89 days past due of $88,000 and 90+ days past due of $413,000 .
Schedule of loan modifications classified as TDRs	Three Months Ended September 30, 2015 2014 Pre- Post- Pre- Post- Modification Modification Modification Modification Number of Recorded Recorded Number of Recorded Recorded (Dollars in thousands) Loans Investment Investment Loans Investment Investment Real estate – residential mortgage – interest reduction $ $ — $ — $ — Commercial, financial and agricultural: Commercial real estate lending – interest reduction — — — Consumer – interest rate concession — — — Total $ $ $ $ Nine Months Ended September 30, 2015 2014 Pre- Post- Pre- Post- Modification Modification Modification Modification Number of Recorded Recorded Number of Recorded Recorded (Dollars in thousands) Loans Investment Investment Loans Investment Investment Real estate – residential mortgage – interest reduction $ $ — $ — $ — Real estate – residential mortgage – interest rate concession Commercial, financial and agricultural: Commercial real estate lending – interest reduction — — — Commercial real estate lending – interest rate concession — — — Commercial business lending – interest rate concession — — — Consumer – interest rate concession — — — Total $ $ $ $
Impaired financing receivables, including TDR loans	At September 30, 2015 and December 31, 2014, all impaired loans had an allowance for loan loss established. Impaired loans, which consisted solely of TDRs, and the related allowance at September 30, 2015 were as follows: Average Recorded Unpaid Balance- Interest Investment Principal Related Impaired Income (Dollars in thousands) in Loans Balance Allowance Loans Recognized Real estate – residential mortgage $ $ $ $ $ Commercial, financial and agricultural: Commercial real estate lending Commercial business lending Equity lines Consumer Total $ $ $ $ $ Impaired loans, which included TDR loans of $5.83 million, and the related allowance at December 31, 2014 were as follows: Average Recorded Unpaid Balance- Interest Investment Principal Related Impaired Income (Dollars in thousands) in Loans Balance Allowance Loans Recognized Real estate – residential mortgage $ $ $ $ $ Commercial, financial and agricultural: Commercial real estate lending Commercial business lending Equity lines Consumer Total $ $ $ $ $
Summary of change in the accretable yield of acquired loan portfolio	September 30, (Dollars in thousands) 2015 2014 Accretable yield, balance at beginning of period $ $ Accretion Reclassification of nonaccretable difference due to improvement in expected cash flows Other changes, net Accretable yield, balance at end of period $ $

Allowance for Loan Losses (Tabl

Allowance for Loan Losses (Tables)	9 Months Ended
	Sep. 30, 2015
Allowance for Loan Losses
Schedule of changes in the allowance for loan losses	The following table presents the changes in the allowance for loan losses by major classification during the nine months ended September 30, 2015 . Real Estate Commercial, Residential Real Estate Financial & Equity Consumer (Dollars in thousands) Mortgage Construction Agricultural Lines Consumer Finance Total Allowance for loan losses: Balance at December 31, 2014 $ $ $ $ $ $ $ Provision charged to operations Loans charged off — — Recoveries of loans previously charged off — — Balance at September 30, 2015 $ $ $ $ $ $ $ The following table presents the changes in the allowance for loan losses by major classification during the nine months ended September 30, 2014 . Real Estate Commercial, Residential Real Estate Financial & Equity Consumer (Dollars in thousands) Mortgage Construction Agricultural Lines Consumer Finance Total Allowance for loan losses: Balance at December 31, 2013 $ $ $ $ $ $ $ Provision charged to operations — — — — Loans charged off — Recoveries of loans previously charged off — — Balance at September 30, 2014 $ $ $ $ $ $ $
Schedule of total allowance for loan losses, allowance by impairment methodology, and total loans and loans by impairment methodology	The following table presents, as of September 30, 2015 , the total allowance for loan losses, the allowance by impairment methodology (individually evaluated for impairment, collectively evaluated for impairment or PCI loans), the total loans and loans by impairment methodology (individually evaluated for impairment, collectively evaluated for impairment or PCI loans). Real Estate Commercial, Residential Real Estate Financial & Equity Consumer (Dollars in thousands) Mortgage Construction Agricultural Lines Consumer Finance Total Allowance for loan losses: Balance at September 30, 2015 $ $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ — $ $ $ $ — $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ Ending balance: acquired loans - purchase credit impaired $ — $ — $ $ — $ — $ — $ Loans: Balance at September 30, 2015 $ $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ — $ $ $ $ — $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ Ending balance: acquired loans - purchase credit impaired $ $ — $ $ $ — $ — $ The following table presents, as of December 31, 2014 , the total allowance for loan losses, the allowance by impairment methodology (individually evaluated for impairment or collectively evaluated for impairment), the total loans and loans by impairment methodology (individually evaluated for impairment or collectively evaluated for impairment). Real Estate Commercial, Residential Real Estate Financial & Equity Consumer (Dollars in thousands) Mortgage Construction Agricultural Lines Consumer Finance Total Allowance for loan losses: Ending balance $ $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ — $ $ $ $ — $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ Ending balance: acquired loans - purchase credit impaired $ — $ — $ — $ — $ — $ — $ — Loans: Ending balance $ $ $ $ $ $ $ Ending balance: individually evaluated for impairment $ $ — $ $ $ $ — $ Ending balance: collectively evaluated for impairment $ $ $ $ $ $ $ Ending balance: acquired loans - purchase credit impaired $ $ — $ $ $ $ — $
Schedule of loans by credit quality indicators	Loans by credit quality indicators as of September 30, 2015 were as follows: Special Substandard (Dollars in thousands) Pass Mention Substandard Nonaccrual Total 1 Real estate – residential mortgage $ $ $ $ $ Real estate – construction: Construction lending — — Consumer lot lending — — — Commercial, financial and agricultural: Commercial real estate lending Land acquisition and development lending — Builder line lending Commercial business lending — Equity lines Consumer $ $ $ $ $ 1 At September 30, 2015 , the Corporation did not have any loans classified as Doubtful or Loss. Included in the table above are loans purchased in connection with the acquisition of CVB of $74.34 million pass rated, $4.49 million special mention, $5.42 million substandard and $652,000 substandard nonaccrual. (Dollars in thousands) Performing Non-Performing Total Consumer finance $ $ $ Loans by credit quality indicators as of December 31, 2014 were as follows: Special Substandard (Dollars in thousands) Pass Mention Substandard Nonaccrual Total 1 Real estate – residential mortgage $ $ $ $ $ Real estate – construction: Construction lending — — Consumer lot lending — — — Commercial, financial and agricultural: Commercial real estate lending Land acquisition and development lending — Builder line lending — Commercial business lending — Equity lines Consumer $ $ $ $ $ 1 At December 31, 2014 , the Corporation did not have any loans classified as Doubtful or Loss. Included in the table above are loans purchased in connection with the acquisition of CVB of $87.27 million pass rated, $2.99 million special mention, $10.71 million substandard and $603,000 substandard nonaccrual. (Dollars in thousands) Performing Non-Performing Total Consumer finance $ $ $

Shareholders' Equity, and Earni

Shareholders' Equity, and Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2015
Shareholders’ Equity and Earnings Per Common Share
Schedule of the components of accumulated other comprehensive income (loss), net of deferred taxes	September 30, December 31, (Dollars in thousands) 2015 2014 Net unrealized gains on securities $ $ Net unrecognized loss on cash flow hedges Net unrecognized losses on defined benefit plan Total accumulated other comprehensive income $ $
Schedule of components earnings per common share calculations	Three Months Ended September 30, (Dollars in thousands) 2015 2014 Net income $ $ Weighted average number of common shares used in earnings per common share—basic Effect of dilutive securities: Stock option awards and warrant — Weighted average number of common shares used in earnings per common share—assuming dilution Nine Months Ended September 30, (Dollars in thousands) 2015 2014 Net income $ $ Weighted average number of common shares used in earnings per common share—basic Effect of dilutive securities: Stock option awards and warrant Weighted average number of common shares used in earnings per common share—assuming dilution

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2015
Employee Benefit Plans
Schedule of net periodic benefit costs	Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2015 2014 2015 2014 Service cost $ $ $ $ Interest cost Expected return on plan assets Amortization of prior service cost Amortization of net loss Net periodic benefit cost $ $ $ $

Fair Value of Assets and Liab27

Fair Value of Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value of Assets and Liabilities
Schedule of financial assets measured at fair value on a recurring basis	September 30, 2015 Fair Value Measurements Using Assets at (Dollars in thousands) Level 1 Level 2 Level 3 Fair Value Assets: Securities available for sale U.S. government agencies and corporations $ — $ $ — $ Mortgage-backed securities — — Obligations of states and political subdivisions — — Total securities available for sale — — Loans held for sale — — Derivative asset - IRLC — — Total assets $ — $ $ — $ Liabilities: Derivative liability - cash flow hedges $ — $ $ — $ December 31, 2014 Fair Value Measurements Using Assets at (Dollars in thousands) Level 1 Level 2 Level 3 Fair Value Assets: Securities available for sale U.S. government agencies and corporations $ — $ $ — $ Mortgage-backed securities — — Obligations of states and political subdivisions — — Total securities available for sale — — Loans held for sale — — Derivative asset - IRLC — — Derivative asset - cash flow hedges — — Total assets $ — $ $ — $ Liabilities: Derivative liability - cash flow hedges $ — $ $ — $
Schedule of financial assets measured at fair value on a nonrecurring basis	September 30, 2015 Fair Value Measurements Using Assets at Fair (Dollars in thousands) Level 1 Level 2 Level 3 Value Impaired loans, net $ — $ — $ $ Other real estate owned, net — — Total $ — $ — $ $ December 31, 2014 Fair Value Measurements Using Assets at Fair (Dollars in thousands) Level 1 Level 2 Level 3 Value Impaired loans, net $ — $ — $ $ Other real estate owned, net — — Total $ — $ — $ $
Schedule of quantitative information about Level 3 fair value measurements for financial assets measured at fair value on a non-recurring basis	Fair Value Measurements at September 30, 2015 (Dollars in thousands) Fair Value Valuation Technique(s) Unobservable Inputs Range of Inputs Impaired loans, net $ Appraisals Discount to reflect current market conditions and estimated selling costs 10% - 60% Other real estate owned, net Appraisals Discount to reflect current market conditions and estimated selling costs 0% - 65% Total $
Schedule of carrying amounts and estimated fair values by balance sheet grouping	Carrying Fair Value Measurements at September 30, 2015 Using Total Fair (Dollars in thousands) Value Level 1 Level 2 Level 3 Value Financial assets: Cash and short-term investments $ $ $ — $ — $ Securities available for sale — — Loans, net — — Loans held for sale — — Derivative asset - IRLC — — Bank-owned life insurance — — Accrued interest receivable — — Financial liabilities: Demand deposits $ $ $ — $ — $ Time deposits — — Borrowings — — Derivative liability - cash flow hedges — — Accrued interest payable — — Carrying Fair Value Measurements at December 31, 2014 Using Total Fair (Dollars in thousands) Value Level 1 Level 2 Level 3 Value Financial assets: Cash and short-term investments $ $ $ — $ — $ Securities available for sale — — Loans, net — — Loans held for sale — — Derivative asset - IRLC — — Derivative asset - cash flow hedges — — Bank-owned life insurance — — Accrued interest receivable — — Financial liabilities: Demand deposits $ $ $ — $ — $ Time deposits — — Borrowings — — Derivative liability - cash flow hedges — — Accrued interest payable — —

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2015
Business Segments
Schedule of segment reporting information, by segment	Three Months Ended September 30, 2015 Retail Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Revenues: Interest income $ $ $ $ — $ $ Gains on sales of loans — — — — Other noninterest income — Total operating income Expenses: Provision for loan losses — — — Interest expense Salaries and employee benefits — Other noninterest expenses — Total operating expenses Income (loss) before income taxes — Income tax expense (benefit) — Net income (loss) $ $ $ $ $ — $ Total assets $ $ $ $ $ $ Goodwill $ $ — $ $ — $ — $ Capital expenditures $ $ $ $ $ — $ Three Months Ended September 30, 2014 Retail Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Revenues: Interest income $ $ $ $ — $ $ Gains on sales of loans — — — — Other noninterest income — Total operating income Expenses: Provision for loan losses — — — Interest expense Salaries and employee benefits — Other noninterest expenses — Total operating expenses Income (loss) before income taxes — Income tax expense (benefit) — Net income (loss) $ $ $ $ $ — $ Total assets $ $ $ $ $ $ Goodwill $ $ — $ $ — $ — $ Capital expenditures $ $ $ $ — $ — $ Nine Months Ended September 30, 2015 Retail Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Revenues: Interest income $ $ $ $ — $ $ Gains on sales of loans — — — — Other noninterest income — Total operating income Expenses: Provision for loan losses — — — Interest expense Salaries and employee benefits — Other noninterest expenses — Total operating expenses Income (loss) before income taxes — Income tax expense (benefit) — Net income (loss) $ $ $ $ $ — $ Total assets $ $ $ $ $ $ Goodwill $ $ — $ $ — $ — $ Capital expenditures $ $ $ $ $ — $ Nine Months Ended September 30, 2014 Retail Mortgage Consumer (Dollars in thousands) Banking Banking Finance Other Eliminations Consolidated Revenues: Interest income $ $ $ $ — $ $ Gains on sales of loans — — — — Other noninterest income — Total operating income Expenses: Provision for loan losses — — — Interest expense Salaries and employee benefits — Other noninterest expenses — Total operating expenses Income (loss) before income taxes — Income tax expense (benefit) — Net income (loss) $ $ $ $ $ — $ Total assets $ $ $ $ $ $ Goodwill $ $ — $ $ — $ — $ Capital expenditures $ $ $ $ $ — $

Commitments and Financial Ins29

Commitments and Financial Instruments with Off-Balance-Sheet Risk (Tables)	9 Months Ended
	Sep. 30, 2015
Commitments and Financial Instruments with Off-Balance-Sheet Risk
Schedule of allowance for indemnifications losses	Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2015 2014 2015 2014 Allowance, beginning of period $ $ $ $ Provision for indemnification losses Payments — Allowance, end of period $ $ $ $

Other Noninterest Expenses (Tab

Other Noninterest Expenses (Tables)	9 Months Ended
	Sep. 30, 2015
Other Noninterest Expenses
Schedule of other noninterest expense	Three Months Ended September 30, Nine Months Ended September 30, (Dollars in thousands) 2015 2014 2015 2014 Data processing fees $ $ $ $ Professional fees Telecommunication expenses Amortization of core deposit intangible Travel and educational expenses FDIC insurance expense Marketing and advertising expenses All other noninterest expenses Total other noninterest expenses $ $ $ $

Summary of Significant Accoun31

Summary of Significant Accounting Policies - Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2015subsidiary
C&F Bank
Nature of Operations
Number of wholly owned subsidiaries	5
CVB Title Services, Inc.
Nature of Operations
Number of insurance-related limited liability companies in which an ownership interest is held	2

Summary of Significant Accoun32

Summary of Significant Accounting Policies - Share-Based Compensation (Details) - Restricted Stock $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)
Share-based compensation
Compensation expense before tax	$ 204	$ 779
Compensation expense after tax	126	483
Unrecognized compensation expense	$ 2,410	$ 2,410

Summary of Significant Accoun33

Summary of Significant Accounting Policies - Restricted Stock Activity (Details) - Restricted Stock - $ / shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Shares
Unvested, beginning of period (in shares)	135,600	120,183
Granted (in shares)	16,700	15,750
Vested (in shares)	(12,600)	(8,100)
Cancelled	(5,075)	(1,500)
Unvested, end of period (in shares)	134,625	126,333
Weighted average grant date fair value
Unvested, beginning of period (in dollars per share)	$ 34.34	$ 31.18
Granted (in dollars per share)	37.72	41.38
Vested (in dollars per share)	25.78	18.77
Forfeitures (in dollars per share)	44.44	41.25
Unvested, end of period (in dollars per share)	$ 35.18	$ 33.13

Summary of Significant Accoun34

Summary of Significant Accounting Policies - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Shares
Options outstanding at beginning of period (in shares)	100,762	164,150	164,150
Expired (in shares)	(12,000)	(12,000)
Options outstanding at end of period (in shares)	88,762	152,150	100,762	164,150
Exercisable at end of year (in shares)	88,762	152,150	100,762	164,150
Exercise Price
Options outstanding at beginning of year (in dollars per share)	$ 37.75	$ 38.21	$ 38.21
Expired (in dollars per share)	35.20	37.50
Options outstanding at end of year (in dollars per share)	38.10	38.27	37.75	$ 38.21
Exercisable at end of year	$ 38.10	$ 38.27	$ 37.75	$ 38.21
Additional information
Remaining Contractual Life - Outstanding Options (in years)	6 months	1 year	10 months 24 days	1 year 8 months 12 days
Remaining Contractual Life - Exercisable Options - (in years)	6 months	1 year	10 months 24 days	1 year 8 months 12 days
Intrinsic value of unexercised in-the-money options - Outstanding Options (in dollars)				$ 1,224
Intrinsic value of unexercised in-the-money options - Exercisable Options (in dollars)				$ 1,224

Adoption of New Accounting St35

Adoption of New Accounting Standards (Details) - ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Projects - Qualified Affordable Housing Projects - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Adoption of New Accounting Standards
Carrying value of aggregate investment	$ 2,590		$ 2,590
Aggregate commitment	1,260		1,260
Income tax expense (benefit)
Adoption of New Accounting Standards
Amortization recognized	$ 101	$ 104	$ 304	$ 311

Securities - Available for sale

Securities - Available for sale Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Available for sale debt and equity securities
Amortized Cost	$ 214,193	$ 214,437
Gross Unrealized Gains	7,023	8,094
Gross Unrealized Losses	(409)	(634)
Fair Value	220,807	221,897
U.S. government agencies and corporations
Available for sale debt and equity securities
Amortized Cost	19,710	23,409
Gross Unrealized Gains	6	1
Gross Unrealized Losses	(113)	(476)
Fair Value	19,603	22,934
Mortgage-backed securities
Available for sale debt and equity securities
Amortized Cost	73,687	66,716
Gross Unrealized Gains	1,055	935
Gross Unrealized Losses	(148)	(32)
Fair Value	74,594	67,619
Obligations of states and political subdivisions
Available for sale debt and equity securities
Amortized Cost	120,796	124,312
Gross Unrealized Gains	5,962	7,158
Gross Unrealized Losses	(148)	(126)
Fair Value	$ 126,610	$ 131,344

Securities - Contractual Maturi

Securities - Contractual Maturities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Amortized Cost
Due in one year or less	$ 29,171		$ 29,171
Due after one year through five years	136,630		136,630
Due after five years through ten years	32,084		32,084
Due after ten years	16,308		16,308
Amortized Cost	214,193		214,193		$ 214,437
Estimated Fair Value
Due in one year or less	29,361		29,361
Due after one year through five years	140,922		140,922
Due after five years through ten years	33,094		33,094
Due after ten years	17,430		17,430
Fair Value	220,807		220,807		$ 221,897
Proceeds from sales and maturities and related gains and losses
Proceeds from maturities, calls and sales of securities available for sale	7,520	$ 10,310	24,402	$ 31,864
Gross realized gains	$ 22,000	42	$ 25,000	45
Gross realized losses		$ 19		$ 19

Securities - Pledged as Collate

Securities - Pledged as Collateral (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Securities pledged
Amortized Cost	$ 214,193	$ 214,437
Fair Value	220,807	221,897
Securities Pledged as Collateral
Securities pledged
Amortized Cost	82,970	106,310
Fair Value	$ 86,370	$ 110,370

Securities - Unrealized Loss Po

Securities - Unrealized Loss Positions (Details)	9 Months Ended
	Sep. 30, 2015USD ($)security	Dec. 31, 2014USD ($)
Fair value
Less Than 12 Months, Fair Value	$ 19,605,000	$ 8,245,000
12 Months or More, Fair Value	15,771,000	31,801,000
Total Fair Value	35,376,000	40,046,000
Unrealized Loss
Less Than 12 Months, Unrealized Loss	196,000	53,000
12 Months or More, Unrealized Loss	213,000	581,000
Total Unrealized Loss	$ 409,000	634,000
Other information
Number of positions considered temporarily impaired | security	60
Other than temporary impairment	$ 0
U.S. government agencies and corporations
Fair value
Less Than 12 Months, Fair Value	2,549,000	1,966,000
12 Months or More, Fair Value	9,048,000	21,234,000
Total Fair Value	11,597,000	23,200,000
Unrealized Loss
Less Than 12 Months, Unrealized Loss	1,000	2,000
12 Months or More, Unrealized Loss	112,000	474,000
Total Unrealized Loss	113,000	476,000
Mortgage-backed securities
Fair value
Less Than 12 Months, Fair Value	9,514,000
12 Months or More, Fair Value	2,317,000	4,518,000
Total Fair Value	11,831,000	4,518,000
Unrealized Loss
Less Than 12 Months, Unrealized Loss	120,000
12 Months or More, Unrealized Loss	28,000	32,000
Total Unrealized Loss	148,000	32,000
Obligations of states and political subdivisions
Fair value
Less Than 12 Months, Fair Value	7,542,000	6,279,000
12 Months or More, Fair Value	4,406,000	6,049,000
Total Fair Value	11,948,000	12,328,000
Unrealized Loss
Less Than 12 Months, Unrealized Loss	75,000	51,000
12 Months or More, Unrealized Loss	73,000	75,000
Total Unrealized Loss	$ 148,000	$ 126,000
Standard & Poor's, A Rating
Other information
Percentage of portfolio with rating	97.00%
Percentage of portfolio with rating in an unrealized loss positions	95.00%
Not A Rating Or Better
Other information
Percentage of portfolio with rating	5.00%

Securities - Restricted Stocks

Securities - Restricted Stocks (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Securities
Restricted stocks, at cost	$ 3,345,000	$ 3,442,000
FHLB stock	3,200,000	3,300,000
CBB stock	145,000	$ 145,000
Restricted stocks, other-than-temporary impairment	$ 0

Loans - Major Classifications o

Loans - Major Classifications of Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Loans
Loans	$ 876,466	$ 835,804
Less allowance for loan losses	(35,726)	(35,606)
Loans, net	840,740	800,198
Real estate - residential mortgage
Loans
Loans	186,082	179,817
Real estate - construction
Loans
Loans	7,086	7,325
Commercial, financial and agricultural
Loans
Loans	335,096	306,845
Equity lines
Loans
Loans	50,533	50,321
Consumer Loan
Loans
Loans	9,888	8,163
Amount included related to demand deposit overdrafts	310	355
Consumer Finance
Loans
Loans	$ 287,781	$ 283,333

Loans - Loans Acquired (Details

Loans - Loans Acquired (Details) - CVBK - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Loans
Outstanding principal balance	$ 101,203	$ 121,556
Carrying amount
Acquired Loans	84,898	101,570
Real estate - residential mortgage
Carrying amount
Acquired Loans	17,567	20,411
Commercial, financial and agricultural
Carrying amount
Acquired Loans	52,097	64,382
Equity lines
Carrying amount
Acquired Loans	14,887	15,782
Consumer Loan
Carrying amount
Acquired Loans	347	995
PCI Loans
Loans
Outstanding principal balance	26,918	36,541
Carrying amount
Acquired Loans	14,822	21,424
PCI Loans | Real estate - residential mortgage
Carrying amount
Acquired Loans	1,336	1,723
PCI Loans | Commercial, financial and agricultural
Carrying amount
Acquired Loans	13,202	19,367
PCI Loans | Equity lines
Carrying amount
Acquired Loans	284	318
PCI Loans | Consumer Loan
Carrying amount
Acquired Loans		16
Purchased Performing Loans
Loans
Outstanding principal balance	74,285	85,015
Carrying amount
Acquired Loans	70,076	80,146
Purchased Performing Loans | Real estate - residential mortgage
Carrying amount
Acquired Loans	16,231	18,688
Purchased Performing Loans | Commercial, financial and agricultural
Carrying amount
Acquired Loans	38,895	45,015
Purchased Performing Loans | Equity lines
Carrying amount
Acquired Loans	14,603	15,464
Purchased Performing Loans | Consumer Loan
Carrying amount
Acquired Loans	$ 347	$ 979

Loans - Loans on Nonaccrual Sta

Loans - Loans on Nonaccrual Status (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Loans on nonaccrual status
Loans on nonaccrual status	$ 5,371	$ 5,944
Real estate - residential mortgage
Loans on nonaccrual status
Loans on nonaccrual status	2,044	2,472
Commercial, financial and agricultural | Commercial real estate lending
Loans on nonaccrual status
Loans on nonaccrual status	1,811	2,033
Commercial, financial and agricultural | Builder line lending
Loans on nonaccrual status
Loans on nonaccrual status	306
Equity lines
Loans on nonaccrual status
Loans on nonaccrual status	397	356
Consumer Loan
Loans on nonaccrual status
Loans on nonaccrual status	6	43
Consumer Finance
Loans on nonaccrual status
Loans on nonaccrual status	$ 807	$ 1,040

Loans - Past Due Status (Detail

Loans - Past Due Status (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)borrower	Dec. 31, 2014USD ($)
Loans on nonaccrual status
30-59 Days Past Due	$ 20,011	$ 14,345
60-89 Days Past Due	3,508	3,150
Loans, 90+ days past due	2,418	1,962
Total Past Due	25,937	19,457
PCI	14,822	21,424
Current	835,707	794,923
Total Loans	876,466	835,804
90+ days past due and accruing	$ 924	14
Number of Borrowers with loans 30 Days Past Due | borrower	1
Additional disclosure for nonaccrual loans
Current, nonaccrual status	$ 2,930	3,060
Nonaccrual loans, 30-59 days past due	73	697
Nonaccrual loans, 60-89 days past due	696	417
Nonaccrual loans, 90+ days past due	1,670	1,770
Real estate - residential mortgage
Loans on nonaccrual status
30-59 Days Past Due	908	1,481
60-89 Days Past Due	41	256
Loans, 90+ days past due	818	679
Total Past Due	1,767	2,416
PCI	1,336	1,723
Current	182,979	175,678
Total Loans	186,082	179,817
90+ days past due and accruing	276
Equity lines
Loans on nonaccrual status
30-59 Days Past Due	63	319
60-89 Days Past Due	48	205
Loans, 90+ days past due	668	122
Total Past Due	779	646
PCI	284	318
Current	49,470	49,357
Total Loans	50,533	50,321
90+ days past due and accruing	500	14
Consumer Loan
Loans on nonaccrual status
30-59 Days Past Due	35	15
60-89 Days Past Due	3	37
Loans, 90+ days past due	6	6
Total Past Due	44	58
PCI		16
Current	9,844	8,089
Total Loans	9,888	8,163
Consumer Finance
Loans on nonaccrual status
30-59 Days Past Due	13,448	12,421
60-89 Days Past Due	2,005	2,599
Loans, 90+ days past due	807	1,040
Total Past Due	16,260	16,060
Current	271,521	267,273
Total Loans	287,781	283,333
Construction Lending | Real estate - construction
Loans on nonaccrual status
Current	4,963	3,839
Total Loans	4,963	3,839
Consumer lot lending | Real estate - construction
Loans on nonaccrual status
Current	2,123	3,486
Total Loans	2,123	3,486
Commercial real estate lending | Commercial, financial and agricultural
Loans on nonaccrual status
30-59 Days Past Due	5,513	88
60-89 Days Past Due	775
Loans, 90+ days past due	119	115
Total Past Due	6,407	203
PCI	11,264	13,011
Current	183,733	171,566
Total Loans	201,404	184,780
90+ days past due and accruing	148
Land acquisition and development lending | Commercial, financial and agricultural
Loans on nonaccrual status
PCI		3,379
Current	44,063	44,094
Total Loans	44,063	47,473
Builder line lending | Commercial, financial and agricultural
Loans on nonaccrual status
60-89 Days Past Due	306
Total Past Due	306
PCI		48
Current	22,413	20,207
Total Loans	22,719	20,255
Commercial business lending | Commercial, financial and agricultural
Loans on nonaccrual status
30-59 Days Past Due	44	21
60-89 Days Past Due	330	53
Total Past Due	374	74
PCI	1,938	2,929
Current	64,598	51,334
Total Loans	66,910	54,337
CVBK
Loans on nonaccrual status
30-59 Days Past Due	337	634
60-89 Days Past Due		88
Loans, 90+ days past due	485	413
Current	69,250	$ 79,010
PCI Loans
Loans on nonaccrual status
90+ days past due and accruing	$ 171

Loans - Troubled Debt Restructu

Loans - Troubled Debt Restructurings (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)loan	Sep. 30, 2014USD ($)loan	Sep. 30, 2015USD ($)loan	Sep. 30, 2014USD ($)loan
Loan modifications classified as troubled debt restructurings
Number of Loans | loan	2	1	6	2
Pre-Modification Recorded Investment (in Dollars)	$ 317,000	$ 103,000	$ 734,000	$ 431,000
Post-Modification Recorded Investment (in Dollars)	317,000	103,000	734,000	431,000
Recorded Investment, TDR payment defaults	$ 0	$ 0	$ 0	$ 0
TDR payment default period			12 months
Period determining when a past due TDR becomes a subsequent default			90 days
Real estate - residential mortgage | Interest reduction
Loan modifications classified as troubled debt restructurings
Number of Loans | loan	1		1
Pre-Modification Recorded Investment (in Dollars)	$ 202,000		$ 202,000
Post-Modification Recorded Investment (in Dollars)	$ 202,000		$ 202,000
Real estate - residential mortgage | Interest rate concession
Loan modifications classified as troubled debt restructurings
Number of Loans | loan			1	1
Pre-Modification Recorded Investment (in Dollars)			$ 239,000	$ 328,000
Post-Modification Recorded Investment (in Dollars)			$ 239,000	$ 328,000
Commercial, financial and agricultural | Commercial real estate lending | Interest reduction
Loan modifications classified as troubled debt restructurings
Number of Loans | loan		1		1
Pre-Modification Recorded Investment (in Dollars)		$ 103,000		$ 103,000
Post-Modification Recorded Investment (in Dollars)		$ 103,000		$ 103,000
Commercial, financial and agricultural | Commercial real estate lending | Interest rate concession
Loan modifications classified as troubled debt restructurings
Number of Loans | loan			1
Pre-Modification Recorded Investment (in Dollars)			$ 15,000
Post-Modification Recorded Investment (in Dollars)			$ 15,000
Commercial, financial and agricultural | Commercial business lending | Interest rate concession
Loan modifications classified as troubled debt restructurings
Number of Loans | loan			1
Pre-Modification Recorded Investment (in Dollars)			$ 17,000
Post-Modification Recorded Investment (in Dollars)			$ 17,000
Consumer Loan | Interest rate concession
Loan modifications classified as troubled debt restructurings
Number of Loans | loan	1		2
Pre-Modification Recorded Investment (in Dollars)	$ 115,000		$ 261,000
Post-Modification Recorded Investment (in Dollars)	$ 115,000		$ 261,000

Loans - Impaired Loans (Details

Loans - Impaired Loans (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Impaired loans
Impaired loans, troubled debt restructurings		$ 5,830
Impaired loans, Recorded Investment	$ 5,611	6,014
Impaired loans, Unpaid Principal Balance	5,961	6,232
Impaired loans, Related Allowance	850	879
Impaired loans, Average Balance	5,742	5,901
Impaired loans, Interest Income Recognized	163	302
Real estate - residential mortgage
Impaired loans
Impaired loans, Recorded Investment	2,762	3,000
Impaired loans, Unpaid Principal Balance	2,932	3,094
Impaired loans, Related Allowance	408	417
Impaired loans, Average Balance	2,847	2,931
Impaired loans, Interest Income Recognized	72	139
Commercial, financial and agricultural | Commercial real estate lending
Impaired loans
Impaired loans, Recorded Investment	2,364	2,786
Impaired loans, Unpaid Principal Balance	2,542	2,908
Impaired loans, Related Allowance	381	440
Impaired loans, Average Balance	2,397	2,735
Impaired loans, Interest Income Recognized	75	150
Commercial, financial and agricultural | Commercial business lending
Impaired loans
Impaired loans, Recorded Investment	102	103
Impaired loans, Unpaid Principal Balance	102	103
Impaired loans, Related Allowance	15	15
Impaired loans, Average Balance	111	115
Impaired loans, Interest Income Recognized	5	7
Equity lines
Impaired loans
Impaired loans, Recorded Investment	30	30
Impaired loans, Unpaid Principal Balance	32	32
Impaired loans, Related Allowance	1	1
Impaired loans, Average Balance	32	25
Impaired loans, Interest Income Recognized	1	2
Consumer Loan
Impaired loans
Impaired loans, Recorded Investment	353	95
Impaired loans, Unpaid Principal Balance	353	95
Impaired loans, Related Allowance	45	6
Impaired loans, Average Balance	355	95
Impaired loans, Interest Income Recognized	$ 10	$ 4

Loans - Purchased Credit Impair

Loans - Purchased Credit Impaired Loans (Details) - CVBK - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Impaired loans
Unpaid principal balance	$ 101,203	$ 121,556
Carryng value	84,898	101,570
PCI Loans
Impaired loans
Unpaid principal balance	26,918	36,541
Carryng value	$ 14,822	$ 21,424

Loans - Purchased Credit Impa48

Loans - Purchased Credit Impaired Loans - Change in Accretable Yield (Details) - PCI Loans - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Change in the accretable yield
Accretable yield	$ 13,488	$ 7,776
Accretion	(2,047)	(2,446)
Reclassification of nonaccreatable difference due to improvement in expected cash flows	287	10,605
Other changes, net	(307)	(1,886)
Accretable yield	$ 11,421	$ 14,049

Allowance for Loan Losses - Cha

Allowance for Loan Losses - Change in Allowance for Loan Losses (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Changes in the allowance for loan losses
Balance at the beginning of period	$ 35,606	$ 34,852
Provision charged to operations	9,812	10,915
Loans charged off	(13,379)	(13,377)
Recoveries of loans previously charged off	3,687	3,183
Balance at the end of period	35,726	35,573
Real estate - residential mortgage
Changes in the allowance for loan losses
Balance at the beginning of period	2,313	2,355
Provision charged to operations	43	45
Loans charged off	(93)	(147)
Recoveries of loans previously charged off	243	37
Balance at the end of period	2,506	2,290
Real estate - construction
Changes in the allowance for loan losses
Balance at the beginning of period	434	434
Provision charged to operations	(340)	0
Loans charged off		0
Recoveries of loans previously charged off		0
Balance at the end of period	94	434
Commercial, financial and agricultural
Changes in the allowance for loan losses
Balance at the beginning of period	7,744	7,805
Provision charged to operations	78
Loans charged off	(22)	(224)
Recoveries of loans previously charged off	24	111
Balance at the end of period	7,824	7,692
Equity lines
Changes in the allowance for loan losses
Balance at the beginning of period	812	892
Provision charged to operations	197
Loans charged off		(47)
Balance at the end of period	1,009	845
Consumer Loan
Changes in the allowance for loan losses
Balance at the beginning of period	211	273
Provision charged to operations	67
Loans charged off	(213)	(242)
Recoveries of loans previously charged off	231	210
Balance at the end of period	296	241
Consumer Finance
Changes in the allowance for loan losses
Balance at the beginning of period	24,092	23,093
Provision charged to operations	9,767	10,870
Loans charged off	(13,051)	(12,717)
Recoveries of loans previously charged off	3,189	2,825
Balance at the end of period	$ 23,997	$ 24,071

Allowance for Loan Losses - All

Allowance for Loan Losses - Allowance and Loans by Impairment Methodology (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Changes in the allowance for loan losses
Ending balance	$ 35,726	$ 35,606	$ 35,573	$ 34,852
Ending balance: individually evaluated for impairment	850	879
Ending balance, collectively evaluated for impairment	34,841	34,727
Ending balance: acquired loans - purchase credit impaired	35
Loans:
Ending balance	876,466	835,804
Ending balance: individually evaluated for impairment	5,611	6,014
Ending balance: collectively evaluated for impairment	856,033	808,366
Ending balance: acquired loans - purchase credit impaired	14,822	21,424
Real estate - residential mortgage
Changes in the allowance for loan losses
Ending balance	2,506	2,313	2,290	2,355
Ending balance: individually evaluated for impairment	408	417
Ending balance, collectively evaluated for impairment	2,098	1,896
Loans:
Ending balance	186,082	179,817
Ending balance: individually evaluated for impairment	2,762	3,000
Ending balance: collectively evaluated for impairment	181,984	175,094
Ending balance: acquired loans - purchase credit impaired	1,336	1,723
Real estate - construction
Changes in the allowance for loan losses
Ending balance	94	434	434	434
Ending balance, collectively evaluated for impairment	94	434
Loans:
Ending balance	7,086	7,325
Ending balance: collectively evaluated for impairment	7,086	7,325
Commercial, financial and agricultural
Changes in the allowance for loan losses
Ending balance	7,824	7,744	7,692	7,805
Ending balance: individually evaluated for impairment	396	455
Ending balance, collectively evaluated for impairment	7,393	7,289
Ending balance: acquired loans - purchase credit impaired	35
Loans:
Ending balance	335,096	306,845
Ending balance: individually evaluated for impairment	2,466	2,889
Ending balance: collectively evaluated for impairment	319,428	284,589
Ending balance: acquired loans - purchase credit impaired	13,202	19,367
Equity lines
Changes in the allowance for loan losses
Ending balance	1,009	812	845	892
Ending balance: individually evaluated for impairment	1	1
Ending balance, collectively evaluated for impairment	1,008	811
Loans:
Ending balance	50,533	50,321
Ending balance: individually evaluated for impairment	30	30
Ending balance: collectively evaluated for impairment	50,219	49,973
Ending balance: acquired loans - purchase credit impaired	284	318
Consumer Loan
Changes in the allowance for loan losses
Ending balance	296	211	241	273
Ending balance: individually evaluated for impairment	45	6
Ending balance, collectively evaluated for impairment	251	205
Loans:
Ending balance	9,888	8,163
Ending balance: individually evaluated for impairment	353	95
Ending balance: collectively evaluated for impairment	9,535	8,052
Ending balance: acquired loans - purchase credit impaired		16
Consumer Finance
Changes in the allowance for loan losses
Ending balance	23,997	24,092	$ 24,071	$ 23,093
Ending balance, collectively evaluated for impairment	23,997	24,092
Loans:
Ending balance	287,781	283,333
Ending balance: collectively evaluated for impairment	$ 287,781	$ 283,333

Allowance for Loan Losses - Cre

Allowance for Loan Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Allowance for loan losses
Loans	$ 876,466	$ 835,804
Loans, excluding consumer finance	588,685	552,471
Pass
Allowance for loan losses
Loans, excluding consumer finance	542,731	502,149
Pass | CVBK
Allowance for loan losses
Loans	74,340
Loans, excluding consumer finance		87,270
Special Mention
Allowance for loan losses
Loans, excluding consumer finance	11,433	11,444
Special Mention | CVBK
Allowance for loan losses
Loans	4,490
Loans, excluding consumer finance		2,990
Substandard
Allowance for loan losses
Loans, excluding consumer finance	29,957	33,974
Substandard | CVBK
Allowance for loan losses
Loans	5,420
Loans, excluding consumer finance		10,710
Substandard Nonaccrual
Allowance for loan losses
Loans, excluding consumer finance	4,564	4,904
Substandard Nonaccrual | CVBK
Allowance for loan losses
Loans	652
Loans, excluding consumer finance		603
Real estate - residential mortgage
Allowance for loan losses
Loans	186,082	179,817
Loans, excluding consumer finance	186,082	179,817
Real estate - residential mortgage | Pass
Allowance for loan losses
Loans, excluding consumer finance	180,329	171,414
Real estate - residential mortgage | Special Mention
Allowance for loan losses
Loans, excluding consumer finance	1,386	2,978
Real estate - residential mortgage | Substandard
Allowance for loan losses
Loans, excluding consumer finance	2,323	2,953
Real estate - residential mortgage | Substandard Nonaccrual
Allowance for loan losses
Loans, excluding consumer finance	2,044	2,472
Real estate - construction
Allowance for loan losses
Loans	7,086	7,325
Real estate - construction | Construction Lending
Allowance for loan losses
Loans, excluding consumer finance	4,963	3,839
Real estate - construction | Construction Lending | Pass
Allowance for loan losses
Loans, excluding consumer finance	4,915	1,191
Real estate - construction | Construction Lending | Special Mention
Allowance for loan losses
Loans, excluding consumer finance	48
Real estate - construction | Construction Lending | Substandard
Allowance for loan losses
Loans, excluding consumer finance		2,648
Real estate - construction | Consumer lot lending
Allowance for loan losses
Loans, excluding consumer finance	2,123	3,486
Real estate - construction | Consumer lot lending | Pass
Allowance for loan losses
Loans, excluding consumer finance	2,123	3,486
Commercial, financial and agricultural
Allowance for loan losses
Loans	335,096	306,845
Commercial, financial and agricultural | Commercial real estate lending
Allowance for loan losses
Loans, excluding consumer finance	201,404	184,780
Commercial, financial and agricultural | Commercial real estate lending | Pass
Allowance for loan losses
Loans, excluding consumer finance	179,047	165,804
Commercial, financial and agricultural | Commercial real estate lending | Special Mention
Allowance for loan losses
Loans, excluding consumer finance	6,008	4,136
Commercial, financial and agricultural | Commercial real estate lending | Substandard
Allowance for loan losses
Loans, excluding consumer finance	14,538	12,807
Commercial, financial and agricultural | Commercial real estate lending | Substandard Nonaccrual
Allowance for loan losses
Loans, excluding consumer finance	1,811	2,033
Commercial, financial and agricultural | Land acquisition and development lending
Allowance for loan losses
Loans, excluding consumer finance	44,063	47,473
Commercial, financial and agricultural | Land acquisition and development lending | Pass
Allowance for loan losses
Loans, excluding consumer finance	42,815	43,693
Commercial, financial and agricultural | Land acquisition and development lending | Special Mention
Allowance for loan losses
Loans, excluding consumer finance	855	1,136
Commercial, financial and agricultural | Land acquisition and development lending | Substandard
Allowance for loan losses
Loans, excluding consumer finance	393	2,644
Commercial, financial and agricultural | Builder line lending
Allowance for loan losses
Loans, excluding consumer finance	22,719	20,255
Commercial, financial and agricultural | Builder line lending | Pass
Allowance for loan losses
Loans, excluding consumer finance	20,876	18,321
Commercial, financial and agricultural | Builder line lending | Special Mention
Allowance for loan losses
Loans, excluding consumer finance	908	1,389
Commercial, financial and agricultural | Builder line lending | Substandard
Allowance for loan losses
Loans, excluding consumer finance	629	545
Commercial, financial and agricultural | Builder line lending | Substandard Nonaccrual
Allowance for loan losses
Loans, excluding consumer finance	306
Commercial, financial and agricultural | Commercial business lending
Allowance for loan losses
Loans, excluding consumer finance	66,910	54,337
Commercial, financial and agricultural | Commercial business lending | Pass
Allowance for loan losses
Loans, excluding consumer finance	54,412	41,813
Commercial, financial and agricultural | Commercial business lending | Special Mention
Allowance for loan losses
Loans, excluding consumer finance	1,454	930
Commercial, financial and agricultural | Commercial business lending | Substandard
Allowance for loan losses
Loans, excluding consumer finance	11,044	11,594
Equity lines
Allowance for loan losses
Loans	50,533	50,321
Loans, excluding consumer finance	50,533	50,321
Equity lines | Pass
Allowance for loan losses
Loans, excluding consumer finance	48,727	48,443
Equity lines | Special Mention
Allowance for loan losses
Loans, excluding consumer finance	642	772
Equity lines | Substandard
Allowance for loan losses
Loans, excluding consumer finance	767	750
Equity lines | Substandard Nonaccrual
Allowance for loan losses
Loans, excluding consumer finance	397	356
Consumer Loan
Allowance for loan losses
Loans	9,888	8,163
Loans, excluding consumer finance	9,888	8,163
Consumer Loan | Pass
Allowance for loan losses
Loans, excluding consumer finance	9,487	7,984
Consumer Loan | Special Mention
Allowance for loan losses
Loans, excluding consumer finance	132	103
Consumer Loan | Substandard
Allowance for loan losses
Loans, excluding consumer finance	263	33
Consumer Loan | Substandard Nonaccrual
Allowance for loan losses
Loans, excluding consumer finance	$ 6	$ 43

Allowance for Loan Losses - Loa

Allowance for Loan Losses - Loans by Credit Quality Indicators - Performing and Non-Performing (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Allowance for loan losses
Loans	$ 876,466	$ 835,804
Consumer Finance
Allowance for loan losses
Loans	287,781	283,333
Consumer Finance | Performing
Allowance for loan losses
Loans	286,974	282,293
Consumer Finance | Nonperforming
Allowance for loan losses
Loans	$ 807	$ 1,040

Shareholders_ Equity and Earn53

Shareholders’ Equity and Earnings Per Common Share - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Shareholders’ Equity and Earnings Per Common Share
Deferred taxes included in AOCI	$ 1,190	$ 1,660
Net unrealized gains on securities	4,298	4,850
Net unrecognized loss on cash flow hedges	(343)	(64)
Net unrecognized losses on defined benefit plan	(1,728)	(1,700)
Total accumulated other comprehensive income	$ 2,227	$ 3,086

Shareholders' Equity, Other Com

Shareholders' Equity, Other Comprehensive Income and Earnings Per Common Share - Share Repurchase Program (Details) - Common - shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Repurchase Program
Common stock
Shares repurchased	38,759	2,800
Restricted Stock Tax Withholding Repurchases
Common stock
Shares repurchased	3,281	225

Shareholders_ Equity and Earn55

Shareholders’ Equity and Earnings Per Common Share - Earnings Per Common Share (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Components of earnings per share calculations
Net income available to common shareholders	$ 3,477	$ 3,293	$ 10,223	$ 9,927
Weighted average number of common shares used in earnings per common share – basic (in shares)	3,392,480	3,405,162	3,400,296	3,403,749
Effect of dilutive securities:
Stock option awards and warrant		146	141	42,723
Weighted average number of common shares used in earnings per common share – assuming dilution	3,392,480	3,405,308	3,400,437	3,446,472

Shareholders_ Equity and Earn56

Shareholders’ Equity and Earnings Per Common Share - Antidilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Stock options
Antidilutive securities
Antidilutive securities excluded from earnings per share	88,762	164,150	88,762	145,470

Employee Benefit Plans - Net Pe

Employee Benefit Plans - Net Periodic Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Components of net periodic benefit cost
Service cost	$ 267	$ 190	$ 801	$ 572
Interest cost	117	113	351	339
Expected return on plan assets	(253)	(208)	(759)	(624)
Amortization of prior service cost	(14)	(85)	(42)	(51)
Recognized net actuarial loss	29	40	87	24
Net periodic benefit cost	$ 146	$ 50	$ 438	$ 260

Fair Value of Assets and Liab58

Fair Value of Assets and Liabilities - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Securities available for sale
Securities available for sale	$ 220,807	$ 221,897
Interest rate lock commitments
Securities available for sale
Derivative asset	823
Recurring
Securities available for sale
Securities available for sale	220,807	221,897
Loans held for sale	43,882	28,279
Total assets measured at fair value	265,512	250,664
Recurring | Cash Flow Hedges
Securities available for sale
Derivative asset		40
Recurring | Interest rate lock commitments
Securities available for sale
Derivative asset	823	448
Recurring | Interest Rate Swap | Cash Flow Hedges
Liabilities:
Derivative liabilities	534	143
Level 2
Securities available for sale
Securities available for sale	220,807	221,897
Loans held for sale	43,882	28,279
Liabilities:
Derivative liabilities	534
Level 2 | Cash Flow Hedges
Securities available for sale
Derivative asset		40
Level 2 | Interest rate lock commitments
Securities available for sale
Derivative asset		448
Level 2 | Forward sales commitments
Securities available for sale
Derivative asset	823
Level 2 | Interest Rate Swap | Cash Flow Hedges
Liabilities:
Derivative liabilities		143
Level 2 | Recurring
Securities available for sale
Securities available for sale	220,807	221,897
Loans held for sale	43,882	28,279
Total assets measured at fair value	265,512	250,664
Level 2 | Recurring | Cash Flow Hedges
Securities available for sale
Derivative asset		40
Level 2 | Recurring | Interest rate lock commitments
Securities available for sale
Derivative asset	823	448
Level 2 | Recurring | Interest Rate Swap | Cash Flow Hedges
Liabilities:
Derivative liabilities	534	143
U.S. government agencies and corporations
Securities available for sale
Securities available for sale	19,603	22,934
U.S. government agencies and corporations | Recurring
Securities available for sale
Securities available for sale	19,603	22,934
U.S. government agencies and corporations | Level 2 | Recurring
Securities available for sale
Securities available for sale	19,603	22,934
Mortgage-backed securities
Securities available for sale
Securities available for sale	74,594	67,619
Mortgage-backed securities | Recurring
Securities available for sale
Securities available for sale	74,594	67,619
Mortgage-backed securities | Level 2 | Recurring
Securities available for sale
Securities available for sale	74,594	67,619
Obligations of states and political subdivisions
Securities available for sale
Securities available for sale	126,610	131,344
Obligations of states and political subdivisions | Recurring
Securities available for sale
Securities available for sale	126,610	131,344
Obligations of states and political subdivisions | Level 2 | Recurring
Securities available for sale
Securities available for sale	$ 126,610	$ 131,344

Fair Value of Assets and Liab59

Fair Value of Assets and Liabilities - Financial Assets Measured at Fair Value on Non-Recurring Basis (Details) - Nonrecurring - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Fair value assets and liabilities - Nonrecurring Basis
Value above which impaired loans are valued using either the present value of expected future cash flows or fair value of the collateral	$ 500,000
Value below which loans are valued using the present value of expected future cash flows discounted at the loan's effective interest rate	500,000
Financial assets measured at fair value on a non-recurring basis	2,836,000	$ 2,010,000
Impaired loans, net
Fair value assets and liabilities - Nonrecurring Basis
Financial assets measured at fair value on a non-recurring basis	2,073,000	1,224,000
Other real estate owned, net
Fair value assets and liabilities - Nonrecurring Basis
Financial assets measured at fair value on a non-recurring basis	763,000	786,000
Level 3
Fair value assets and liabilities - Nonrecurring Basis
Financial assets measured at fair value on a non-recurring basis	2,836,000	2,010,000
Level 3 | Impaired loans, net
Fair value assets and liabilities - Nonrecurring Basis
Financial assets measured at fair value on a non-recurring basis	$ 2,073,000	1,224,000
Level 3 | Impaired loans, net | Minimum
Fair value assets and liabilities - Nonrecurring Basis
Discount rate	10.00%
Level 3 | Impaired loans, net | Maximum
Fair value assets and liabilities - Nonrecurring Basis
Discount rate	60.00%
Level 3 | Other real estate owned, net
Fair value assets and liabilities - Nonrecurring Basis
Financial assets measured at fair value on a non-recurring basis	$ 763,000	$ 786,000
Level 3 | Other real estate owned, net | Minimum
Fair value assets and liabilities - Nonrecurring Basis
Discount rate		0.00%
Level 3 | Other real estate owned, net | Maximum
Fair value assets and liabilities - Nonrecurring Basis
Discount rate		65.00%

Fair Value of Assets and Liab60

Fair Value of Assets and Liabilities - Carrying Value and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets:
Securities available for sale	$ 220,807	$ 221,897
Bank-owned life insurance	14,780	14,484
Level 1
Assets:
Cash and short-term investments	145,415	167,616
Accrued interest receivable, fair value	6,654	6,421
Financial liabilities:
Demand deposits	703,581	659,594
Accrued interest payable	687	740
Level 2
Assets:
Securities available for sale	220,807	221,897
Loans held for sale	43,882	28,279
Bank-owned life insurance	14,780	14,484
Financial liabilities:
Time deposits	340,737	369,538
Borrowings	172,086	160,052
Derivative liabilities	534
Level 3
Assets:
Loans, net	852,504	813,010
Carrying Value
Assets:
Cash and short-term investments	145,415	167,616
Securities available for sale	220,807	221,897
Loans, net	840,740	800,198
Loans held for sale	43,882	28,279
Bank-owned life insurance	14,780	14,484
Accrued interest receivable, fair value	6,654	6,421
Financial liabilities:
Demand deposits	703,581	659,594
Time deposits	338,216	366,507
Borrowings	178,951	167,027
Derivative liabilities	534
Accrued interest payable	687	740
Total Fair Value
Assets:
Cash and short-term investments	145,415	167,616
Securities available for sale	220,807	221,897
Loans, net	852,504	813,010
Loans held for sale	43,882	28,279
Bank-owned life insurance	14,780	14,484
Accrued interest receivable, fair value	6,654	6,421
Financial liabilities:
Demand deposits	703,581	659,594
Time deposits	340,737	369,538
Borrowings	172,086	160,052
Derivative liabilities	534
Accrued interest payable	687	740
Interest rate lock commitments
Assets:
Derivative asset	823
Interest rate lock commitments | Level 2
Assets:
Derivative asset		448
Interest rate lock commitments | Carrying Value
Assets:
Derivative asset		448
Interest rate lock commitments | Total Fair Value
Assets:
Derivative asset		448
Forward sales commitments | Level 2
Assets:
Derivative asset	823
Forward sales commitments | Carrying Value
Assets:
Derivative asset	823
Forward sales commitments | Total Fair Value
Assets:
Derivative asset	$ 823
Cash Flow Hedges | Level 2
Assets:
Derivative asset		40
Cash Flow Hedges | Carrying Value
Assets:
Derivative asset		40
Cash Flow Hedges | Total Fair Value
Assets:
Derivative asset		40
Cash Flow Hedges | Interest Rate Swap | Level 2
Financial liabilities:
Derivative liabilities		143
Cash Flow Hedges | Interest Rate Swap | Carrying Value
Financial liabilities:
Derivative liabilities		143
Cash Flow Hedges | Interest Rate Swap | Total Fair Value
Financial liabilities:
Derivative liabilities		$ 143

Business Segments - Segment Rep

Business Segments - Segment Reporting - (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)segment	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Business Segments
Number of Operating Segments | segment			3
Revenues:
Interest income	$ 22,778	$ 21,838	$ 64,931	$ 64,844
Gains on sales of loans	1,156	1,188	4,803	4,003
Other noninterest income	3,649	3,524	10,618	10,705
Total operating income	27,583	26,550	80,352	79,552
Expenses:
Provision for loan losses	4,142	4,140	9,812	10,915
Interest expense	2,259	2,116	6,466	6,477
Salaries and employee benefits	9,107	8,900	29,209	27,208
Other noninterest expenses	7,154	6,671	20,456	20,685
Total operating expenses	22,662	21,827	65,943	65,285
Income (loss) before income taxes	4,921	4,723	14,409	14,267
Income tax expense (benefit)	1,444	1,430	4,186	4,340
Net income	3,477	3,293	10,223	9,927
Total assets	1,373,371	1,315,995	1,373,371	1,315,995	$ 1,338,187
Goodwill	14,425	14,425	14,425	14,425	$ 14,425
Capital expenditures	470	329	1,063	1,603
Other
Revenues:
Other noninterest income			1,142	1,047
Total operating income			1,142	1,047
Expenses:
Interest expense			878	713
Salaries and employee benefits			1,050	628
Other noninterest expenses			412	545
Total operating expenses			2,340	1,886
Income (loss) before income taxes			(1,198)	(839)
Income tax expense (benefit)			(457)	(319)
Net income			(741)	(520)
Total assets	4,728	3,656	4,728	3,656
Capital expenditures			2	1
Operating Segments | Retail Banking
Revenues:
Interest income	10,715	10,925	32,157	32,612
Other noninterest income	2,312	2,301	6,764	6,893
Total operating income	13,027	13,226	38,921	39,505
Expenses:
Interest expense	1,453	1,460	4,238	4,530
Salaries and employee benefits	5,663	5,509	17,354	17,032
Other noninterest expenses	4,440	4,181	12,906	13,274
Total operating expenses	11,556	11,150	34,498	34,836
Income (loss) before income taxes	1,471	2,076	4,423	4,669
Income tax expense (benefit)	85	396	250	584
Net income	1,386	1,680	4,173	4,085
Total assets	1,194,435	1,153,939	1,194,435	1,153,939
Goodwill	3,702	3,701	3,702	3,701
Capital expenditures	434	306	928	1,454
Operating Segments | Mortgage Banking
Revenues:
Interest income	528	366	1,301	997
Gains on sales of loans	1,156	1,188	4,803	4,003
Other noninterest income	703	597	1,961	1,941
Total operating income	2,387	2,151	8,065	6,941
Expenses:
Provision for loan losses	15	15	45	45
Interest expense	100	57	240	151
Salaries and employee benefits	660	813	3,511	2,912
Other noninterest expenses	1,292	1,172	3,430	3,340
Total operating expenses	2,067	2,057	7,226	6,448
Income (loss) before income taxes	320	94	839	493
Income tax expense (benefit)	130	37	340	197
Net income	190	57	499	296
Total assets	58,370	50,439	58,370	50,439
Capital expenditures	28	20	86	61
Operating Segments | Consumer Finance
Revenues:
Interest income	12,702	11,837	34,985	34,959
Other noninterest income	237	262	751	824
Total operating income	12,939	12,099	35,736	35,783
Expenses:
Provision for loan losses	4,127	4,125	9,767	10,870
Interest expense	1,579	1,648	4,622	4,807
Salaries and employee benefits	2,503	2,382	7,294	6,636
Other noninterest expenses	1,324	1,224	3,708	3,526
Total operating expenses	9,533	9,379	25,391	25,839
Income (loss) before income taxes	3,406	2,720	10,345	9,944
Income tax expense (benefit)	1,336	1,061	4,053	3,878
Net income	2,070	1,659	6,292	6,066
Total assets	291,214	288,328	291,214	288,328
Goodwill	10,723	10,724	10,723	10,724
Capital expenditures	7	3	47	87
Operating Segments | Other
Revenues:
Other noninterest income	397	364
Total operating income	397	364
Expenses:
Interest expense	294	241
Salaries and employee benefits	281	196
Other noninterest expenses	98	94
Total operating expenses	673	531
Income (loss) before income taxes	(276)	(167)
Income tax expense (benefit)	(107)	(64)
Net income	(169)	(103)
Total assets	4,728	3,656	4,728	3,656
Capital expenditures	1
Eliminations
Revenues:
Interest income	(1,167)	(1,290)	(3,512)	(3,724)
Total operating income	(1,167)	(1,290)	(3,512)	(3,724)
Expenses:
Interest expense	(1,167)	(1,290)	(3,512)	(3,724)
Total operating expenses	(1,167)	(1,290)	(3,512)	(3,724)
Total assets	$ (175,376)	$ (180,367)	$ (175,376)	$ (180,367)

Business Segments - Segment Deb

Business Segments - Segment Debt (Details)	9 Months Ended
	Sep. 30, 2015
Mortgage Banking | FHLB Advances
Business Segments
Variable rate, spread (as a percent)	0.50%
Consumer Finance | Minimum
Business Segments
Variable rate, spread (as a percent)	3.80%
Consumer Finance | Maximum
Business Segments
Variable rate, spread (as a percent)	8.00%
Consumer Finance | LIBOR | Minimum
Business Segments
Variable rate, spread (as a percent)	2.00%

Commitments and Financial Ins63

Commitments and Financial Instruments with Off-Balance-Sheet Risk - IRLC and Other Derivatives (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
C&F Mortgage
Commitments and Financial Instruments with Off-Balance Sheet Risk
Recourse period for early payment default, minimum	90 days
Recourse period for early payment default, maximum	1 year
Forward sales commitments
Commitments and Financial Instruments with Off-Balance Sheet Risk
Notional amount	$ 102,700
Interest rate lock commitments
Commitments and Financial Instruments with Off-Balance Sheet Risk
Derivative asset	$ 823

Commitments and Financial Ins64

Commitments and Financial Instruments with Off-Balance-Sheet Risk - Changes in Allowance for Indemnifications Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Change in the allowance for indemnification losses
Allowance, beginning of period			$ 2,089	$ 2,415
Provision for indemnifications			212	182
Payments			(1)	(514)
Allowance, end of period	$ 2,300	$ 2,083	2,300	2,083
Indemnification reserve for recourse provisions
Change in the allowance for indemnification losses
Allowance, beginning of period			2,227	2,074
Provision for indemnifications	73	73
Payments		(64)
Allowance, end of period	$ 2,300	$ 2,083	$ 2,300	$ 2,083

Interest Rate Swaps (Details)

Interest Rate Swaps (Details) - Cash Flow Hedges $ in Thousands	Sep. 30, 2015USD ($)
Interest Rate Swap
Derivatives and other information
Notional amount	$ 25,000
September 2015 Interest Rate Swaps
Derivatives and other information
Notional amount	10,000
Derivative liability recorded in other liabilities	(251)
December 2019 Interest Rate Swaps
Derivatives and other information
Notional amount	15,000
Derivative liability recorded in other liabilities	(283)
Trust Preferred Securities Subject to Mandatory Redemption | September 2015 Interest Rate Swaps
Derivatives and other information
Amount hedged	10,000
Trust Preferred Securities Subject to Mandatory Redemption | December 2019 Interest Rate Swaps
Derivatives and other information
Amount hedged	$ 15,000

Other Noninterest Expenses (Det

Other Noninterest Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other Noninterest Expenses
Data processing fees	$ 944	$ 806	$ 2,771	$ 2,758
Professional fees	517	442	1,584	1,634
Telecommunication expenses	379	348	1,074	1,101
Amortization of core deposit intangible	235	290	746	914
Travel and educational expenses	284	258	774	813
FDIC insurance expense	225	193	668	806
Marketing and advertising expenses	357	362	978	957
All other noninterest expenses	1,987	1,784	5,255	5,199
Total Other Noninterest Expenses	$ 4,928	$ 4,483	$ 13,850	$ 14,182