XML 62 R20.htm IDEA: XBRL DOCUMENT

Disclosures About Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Measurement of Assets Measured at Fair Value on Recurring Basis

The following table presents the fair value measurement of assets measured at fair value on a recurring basis and the level within the ASC 820 fair value hierarchy used for such fair value measurements:

			Fair Value Measurements Using
	Fair Value		Level 1		Level 2		Level 3
March 31, 2013
Mortgage-backed securities
Government sponsored agencies	$	127,937	$	-	$	127,937	$	-
Collateralized mortgage obligations
Government sponsored agencies		122,844		-		122,844		-
Federal agencies		9,992		-		9,992		-
Municipals		3,191		-		3,191		-
Small Business Administration		6		-		6		-
Corporate obligations		20,301		-		17,836		2,465
Available-for-sale securities	$	284,271	$	-	$	281,806	$	2,465

December 31, 2012
Mortgage-backed securities
Government sponsored agencies	$	126,375	$	-	$	126,375	$	-
Collateralized mortgage obligations
Government sponsored agencies		118,235		-		118,235		-
Federal agencies		13,006		-		13,006		-
Municipals		3,264		-		3,264		-
Small Business Administration		8		-		8		-
Corporate obligations		20,309		-		17,834		2,475
Available-for-sale securities	$	281,197	$	-	$	278,772	$	2,475

Reconciliation of Recurring Fair Value Measurements Recognized in Balance Sheet using Significant Unobservable (Level Three) Inputs

The following is a reconciliation of the beginning and ending balances for the three months ended March 31, 2013 and 2012 of recurring fair value measurements recognized in the accompanying balance sheets using significant unobservable (Level 3) inputs:

	2013			2012

Beginning balance	$	2,475		$	2,454

Total realized and unrealized gains and losses
Included in net income		-			-
Included in other comprehensive loss		(10	)		11
Purchases, issuances and settlements		-			-

Ending balance	$	2,465		$	2,465

Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets still held at the reporting date	$	-		$	-

Fair Value Measurement of Assets Measured at Fair Value on Nonrecurring Basis

The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the ASC 820 fair value hierarchy in which the fair value measurements fall:

			Fair Value Measurements Using
	Fair Value		Level 1		Level 2		Level 3
March 31, 2013
Impaired loans (collateral dependent)	$	1,015	$	-	$	-	$	1,015
Foreclosed real estate		246		-		-		246

December 31, 2012
Impaired loans (collateral dependent)	$	8,032	$	-	$	-	$	8,032
Foreclosed real estate		355		-		-		355
Mortgage-servicing rights		1,731		-		-		1,731

Quantitative Information about Unobservable Inputs used in Recurring and Nonrecurring Level Three Fair Value Measurements

The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements.

March 31, 2013	Fair Value		Valuation Technique	Unobservable Inputs	Range
Trust Preferred Securities	$	2,465	Discounted cash flow	Discount rate		9.0% - 17.0	%
				Constant prepayment rate		2.0	%
				Cumulative projected
				prepayments		40.0	%
				Probability of default		1.5%-2.2	%
				Projected cures given deferral		0%-15.0	%
				Loss severity		58.0% – 79.4	%

Impaired loans (collateral dependent)	$	1,015	Third party valuations	Discount to reflect realizable value		0%-40	%

Foreclosed real estate	$	246	Third party valuations	Discount to reflect realizable value less estimated selling costs		0%-25	%

December 31, 2012	Fair Value		Valuation Technique	Unobservable Inputs	Range
Trust Preferred Securities	$	2,475	Discounted cash flow	Discount rate		9.0% - 17.0%
				Constant prepayment rate		2.0	%
				Cumulative projected
				prepayments		40.0	%
				Probability of default		1.5%-2.2%
				Projected cures given deferral		0%-15.0%
				Loss severity		58.0% – 79.4%

Impaired loans (collateral dependent)	$	8,032	Third party valuations	Discount to reflect realizable value		0%-40%

Foreclosed real estate	$	355	Third party valuations	Discount to reflect realizable value less estimated selling costs		0%-25%

Mortgage servicing rights	$	1,731	Third party valuations	Prepayment speeds		100%-700%
				Discount rates		10.1	%
				Servicing fee		0.25	%

Estimated Fair Values of Financial Instruments

The estimated fair values of the Company’s financial instruments not carried at fair value in the consolidated condensed balance sheets as of dates noted below are as follows:

					Fair Value Measurements Using
March 31, 2013	Carrying Amount		Fair Value		Level 1		Level 2		Level 3

Assets
Cash and cash equivalents	$	34,396	$	34,396	$	34,396	$	-	$	-
Loans held for sale		6,765		6,883		-		6,883		-
Loans		955,876		978,047		-		-		978,047
FHLB stock		14,391		14,391		-		14,391		-
Interest receivable		3,635		3,635		-		3,635		-

Liabilities
Deposits		1,167,727		1,166,770		619,218		-		547,552
FHLB advances		81,525		82,289		-		82,289		-
Other borrowings		11,427		12,341		-		12,341		-
Interest payable		247		247		-		247		-

					Fair Value Measurements Using
December 31, 2012	Carrying Amount		Fair Value		Level 1		Level 2		Level 3

Assets
Cash and cash equivalents	$	32,778	$	32,778	$	32,778	$	—	$	—
Loans held for sale		5,106		5,235		—		5,235		—
Loans, net		969,545		993,539		—		—		993,539
FHLB stock		14,391		14,391		—		14,391		—
Interest receivable		3,846		3,846		—		3,846		—

Liabilities
Deposits		1,184,009		1,195,825		606,066		—		589,759
FHLB advances		74,675		75,688		—		75,688		—
Other borrowings		11,606		12,648		—		12,648		—
Interest payable		236		236		—		236		—

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References+ Details

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References+ Details

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 14

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph c(2), d, e, f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 10

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15

-Subparagraph b-d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 19

-Subparagraph a, b, c(1), d(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph a, c(1), c(2), c(3), d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 30

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

+ Details