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Note 11 - Fair Value Measurements and Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

	March 31, 201 7
	Fair Value Measurements Using:
	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Recurring fair value measurements
Investment securities available for sale
Governmental National Mortgage Association mortgage-backed securities	$	6,365	$	-	$	6,365	$	-
Federal Home Loan Mortgage Corporation mortgage-backed securities		1,775		-		1,775		-
Federal National Mortgage Association mortgage-backed securities		721		-		721		-
Debt securities, U.S. government agency		355		-		355		-
Total investment securities available for sale	$	9,216	$	-	$	9,216	$	-

Nonrecurring fair value measurements
Impaired loans	$	2,140	$	-	$	-	$	2,140
Other real estate owned		364		-		-		364

	December 31, 2016
	Fair Value Measurements Using:
	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Recurring fair value measurements
Investment securities available for sale
Governmental National Mortgage Association mortgage-backed securities	$	6,590	$	-	$	6,590	$	-
Federal Home Loan Mortgage Corporation mortgage-backed securities		1,871		-		1,871		-
Federal National Mortgage Association mortgage-backed securities		740		-		740		-
Debt securities, U.S. government agency		354		-		354		-
Total investment securities available for sale	$	9,555	$	-	$	9,555	$	-

Nonrecurring fair value measurements
Impaired loans	$	1,895	$	-	$	-	$	1,895
Other real estate owned		435		-		-		435

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

	March 3 1 , 201 7
	Quantitative Information About Level 3 Fair Value Measurements
	Total Fair Value		Valuation Techniques	Unobservable Input	Range (Weighted Average)
Impaired loans	$	2,140	Appraisal of collateral (1)	Appraisal adjustments (2)		0%	-	17%	(2%)

Other real estate owned	$	364	Appraisal of collateral (1)	Appraisal adjustments ( 2)		0%	-	10%	(7%)

	December 31, 201 6
	Quantitative Information About Level 3 Fair Value Measurements
	Total Fair Value		Valuation Techniques	Unobservable Input	Range (Weighted Average)
Impaired loans	$	1,895	Appraisal of collateral (1)	Appraisal adjustments (2)		0%	-	22%	(2%)

Other real estate owned	$	435	Appraisal of collateral (1)	Appraisal adjustments ( 2)		0%	-	29%	(12%)

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

					Fair Value Measurements at
					March 31, 2017
	Carrying Amount		Fair Value Estimate		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Financial Assets
Cash and cash equivalents	$	8,933	$	8,933	$	8,933	$	-	$	-
Investment in interest-earning time deposits		5,359		5,405		-		-		5,405
Investment securities available for sale		9,216		9,216		-		9,216		-
Loans held for sale		2,074		2,149		-		2,149		-
Loans receivable, net		184,104		184,806		-		-		184,806
Accrued interest receivable		878		878		878		-		-
Investment in FHLB stock		713		713		713		-		-
Bank-owned life insurance		3,750		3,750		3,750		-		-

Financial Liabilities
Deposits		180,632		182,678		42,949		-		139,729
FHLB short-term borrowings		7,000		7,000		7,000		-		-
FHLB long-term borrowings		8,500		8,497		-		-		8,497
Accrued interest payable		141		141		141		-		-

					Fair Value Measurements at
					December 31, 201 6
	Carrying Amount		Fair Value Estimate		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Financial Assets
Cash and cash equivalents	$	9,300	$	9,300	$	9,300	$	-	$	-
Investment in interest-earning time deposits		6,098		6,163		-		-		6,163
Investment securities available for sale		9,555		9,555		-		9,555		-
Loans held for sale		4,712		4,879		-		4,879		-
Loans receivable, net		176,807		177,870		-		-		177,870
Accrued interest receivable		862		862		862		-		-
Investment in FHLB stock		713		713		713		-		-
Bank-owned life insurance		3,728		3,728		3,728		-		-

Financial Liabilities
Deposits		177,007		179,050		39,939		-		139,111
FHLB short-term borrowings		7,000		7,000		7,000		-		-
FHLB long-term borrowings		8,500		8,507		-		-		8,507
Accrued interest payable		142		142		142		-		-

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details