XML 69 R38.htm IDEA: XBRL DOCUMENT v3.3.1.900
Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2015
Fair Value of Financial Instruments [Abstract]  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurement Reporting Date using

 

 

 

 

 

 

 

 

 

 

 

 

 

Description

 

Total

 

Level 1

 

Level 2

 

Level 3

December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

Available for Sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agencies

 

$

9,169 

 

$

 -

 

$

9,169 

 

$

 -

States and political subdivisions

 

 

60,755 

 

 

 -

 

 

60,755 

 

 

 -

Corporate obligations

 

 

4,974 

 

 

 -

 

 

4,974 

 

 

 -

Mortgage-backed securities-government

 

 

 

 

 

 

 

 

 

 

 

 

 sponsored entities

 

 

63,569 

 

 

 -

 

 

63,569 

 

 

 -

Equity securities-financial services

 

 

384 

 

 

384 

 

 

 -

 

 

 -

Total available for sale

 

$

138,851 

 

$

384 

 

$

138,467 

 

$

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

Available for Sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Government agencies

 

$

28,975 

 

$

 -

 

$

28,975 

 

$

 -

States and political subdivisions

 

 

54,332 

 

 

 -

 

 

54,332 

 

 

 -

Corporate obligations

 

 

6,486 

 

 

 -

 

 

6,486 

 

 

 -

Mortgage-backed securities-government

 

 

 

 

 

 

 

 

 

 

 

 

 sponsored entities

 

 

66,204 

 

 

 -

 

 

66,204 

 

 

 -

Equity securities-financial services

 

 

398 

 

 

398 

 

 

 -

 

 

 -

Total available for sale

 

$

156,395 

 

$

398 

 

$

155,997 

 

$

 -

 

Fair Value, Assets Measured on Nonrecurring Basis [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurement Reporting Date using

 

 

 

 

 

 

 

 

 

 

 

 

Description

 

Total

 

Level 1

 

Level 2

 

Level 3

December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

Impaired Loans

 

$

7,615 

 

$

 -

 

$

 -

 

$

7,615 

Foreclosed real estate

 

 

2,847 

 

 

 -

 

 

 -

 

 

2,847 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

Impaired Loans

 

$

11,312 

 

$

 -

 

$

 -

 

$

11,312 

Foreclosed real estate

 

 

3,726 

 

 

 -

 

 

 -

 

 

3,726 

 

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quantitative Information about Level 3 Fair Value Measurements

(In thousands)

Fair Value Estimate

 

Valuation Techniques

Unobservable Input

 

Range (Weighted Average)

December 31, 2015

 

 

 

 

 

 

 

Impaired loans

$

2,574 

 

Appraisal of collateral(1)

Appraisal adjustments(2)

 

10%  (10%)

Impaired loans

$

5,041 

 

Present value of future cash flows

Loan discount rate

 

4-7%  (5.61%)

 

 

 

 

 

Probability of default

 

0% 

 

 

 

 

 

 

 

 

Foreclosed real estate owned

$

2,847 

 

Appraisal of collateral(1)

Liquidation Expenses(2)

 

10%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quantitative Information about Level 3 Fair Value Measurements

(In thousands)

Fair Value Estimate

 

Valuation Techniques

Unobservable Input

 

Range (Weighted Average)

December 31, 2014

 

 

 

 

 

 

 

Impaired loans

$

11,312 

 

Appraisal of collateral(1)

Appraisal adjustments(2)

 

6 - 33%  (23.35%)

 

 

 

 

 

 

 

 

Foreclosed real estate owned

$

3,726 

 

Appraisal of collateral(1)

Liquidation Expenses(2)

 

10%

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrying

 

Fair

 

 

 

 

 

 

 

Amount

 

Value

 

Level 1

 

Level 2

 

Level 3

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

10,010 

 

$

10,010 

 

$

10,010 

 

$

 -

 

$

 -

Securities

 

138,851 

 

 

138,851 

 

 

384 

 

 

138,467 

 

 

 -

Loans receivable, net

 

552,627 

 

 

559,416 

 

 

 -

 

 

 -

 

 

559,416 

Mortgage servicing rights

 

261 

 

 

291 

 

 

 -

 

 

 -

 

 

291 

Regulatory stock

 

3,412 

 

 

3,412 

 

 

3,412 

 

 

 -

 

 

 -

Bank owned life insurance

 

18,820 

 

 

18,820 

 

 

18,820 

 

 

 -

 

 

 -

Accrued interest receivable

 

2,363 

 

 

2,363 

 

 

2,363 

 

 

 -

 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

550,909 

 

 

551,175 

 

 

354,162 

 

 

 -

 

 

197,013 

Short-term borrowings

 

53,235 

 

 

53,235 

 

 

53,235 

 

 

 -

 

 

 -

Other borrowings

 

41,126 

 

 

41,260 

 

 

 -

 

 

 -

 

 

41,260 

Accrued interest payable

 

957 

 

 

957 

 

 

957 

 

 

 -

 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off-balance sheet financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commitments to extend credit and
outstanding letters of credit

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrying

 

Fair

 

 

 

 

 

 

 

Amount

 

Value

 

Level 1

 

Level 2

 

Level 3

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

12,376 

 

$

12,376 

 

$

12,376 

 

$

 -

 

$

 -

Securities

 

156,395 

 

 

156,395 

 

 

398 

 

 

155,997 

 

 

 -

Loans receivable, net

 

495,260 

 

 

507,833 

 

 

 -

 

 

 -

 

 

507,833 

Mortgage servicing rights

 

271 

 

 

277 

 

 

 -

 

 

 -

 

 

277 

Regulatory stock

 

1,714 

 

 

1,714 

 

 

1,714 

 

 

 -

 

 

 -

Bank owned life insurance

 

18,284 

 

 

18,284 

 

 

18,284 

 

 

 -

 

 

 -

Accrued interest receivable

 

2,339 

 

 

2,339 

 

 

2,339 

 

 

 -

 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

559,944 

 

 

560,243 

 

 

338,112 

 

 

 -

 

 

222,131 

Short-term borrowings

 

25,695 

 

 

25,695 

 

 

25,695 

 

 

 -

 

 

 -

Other borrowings

 

22,200 

 

 

23,228 

 

 

 -

 

 

 -

 

 

23,228 

Accrued interest payable

 

966 

 

 

966 

 

 

966 

 

 

 -

 

 

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Off-balance sheet financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commitments to extend credit and
outstanding letters of credit

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -