Disclosures about Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Disclosures about Fair Value Measurements [Abstract]

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

Assets and liability measured at fair value on a recurring basis are summarized below (in thousands):


	Fair Value Measurements at March 31, 2017 Using
	Total		(Level 1)		(Level 2)		(Level 3)
US Agency securities	$	1,391	$	—	$	1,391	$	—
US Agency mortgage-backed securities		88,890		—		88,890		—
Taxable municipal		5,287		—		5,287		—
Corporate bonds		33,476		—		33,476		—
Fair value swap asset		5		—		—		5


	Fair Value Measurements at December 31, 2016 Using
	Total		(Level 1)		(Level 2)		(Level 3)
US Agency securities	$	398	$	—	$	398	$	—
Taxable municipal		3,622		—		3,622		—
Corporate bonds		33,873		—		33,873		—
US Agency mortgage-backed securities		89,184		—		89,184		—

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

Assets measured at fair value on a non-recurring basis are summarized below (in thousands, except range data):


	Fair Value Measurements at March 31, 2017 Using
	Total		(Level 1)		(Level 2)		(Level 3)
Impaired loans	$	150	$	—	$	—	$	150
Other real estate owned		25		—		—		25


	Fair Value Measurements at December 31, 2016 Using
	Total		(Level 1)		(Level 2)		(Level 3)
Impaired loans	$	147	$	—	$	—	$	147
Other real estate owned		21		—		—		21


March 31, 2017	Quantitative Information About Level 3 Fair Value Measurements
March 31, 2017	Fair Value Estimate	Valuation Techniques	Unobservable Input	Range (Wgtd Ave)
Impaired loans	$150	Appraisal of collateral⁽¹⁾^,⁽³⁾	Appraisal adjustments⁽²⁾	40% to 77% (42%)
Other real estate owned	25	Appraisal of collateral⁽¹⁾^,⁽³⁾	Appraisal adjustments⁽²⁾ Liquidation expenses	0% to 43% (17%) 2% to 206% (108%)


December 31, 2016	Quantitative Information About Level 3 Fair Value Measurements
December 31, 2016	Fair Value Estimate	Valuation Techniques	Unobservable Input	Range (Wgtd Ave)
Impaired loans	$147	Appraisal of collateral⁽¹⁾^,⁽³⁾	Appraisal adjustments⁽²⁾	40% to 99% (45%)
Other real estate owned	21	Appraisal of collateral⁽¹⁾^,⁽³⁾	Appraisal adjustments⁽²⁾ Liquidation expenses	20% to 77% (42%) 3% to 199% (37%)

(1)

Fair Value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable.

(2)

Appraisals may be adjusted by management for qualitative factors such as economic conditions.

(3)

Includes qualitative adjustments by management and estimated liquidation expenses.

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

The estimation methodologies used, the estimated fair values based on US GAAP measurements, and recorded book balances at March 31, 2017 and December 31, 2016, were as follows (in thousands):


	March 31, 2017
	Carrying Value		Fair Value		(Level 1)		(Level 2)		(Level 3)
FINANCIAL ASSETS:
Cash and cash equivalents	$	31,016	$	31,016	$	31,016	$	—	$	—
Investment securities – AFS		129,044		129,044		—		129,044		—
Investment securities – HTM		36,737		36,594		—		33,648		2,946
Regulatory stock		6,409		6,409		6,409		—		—
Loans held for sale		2,613		2,660		2,660		—		—
Loans, net of allowance for loan loss and unearned income		886,763		882,004		—		—		882,004
Accrued interest income receivable		3,200		3,200		3,200		—		—
Bank owned life insurance		38,044		38,044		38,044		—		—
Fair value swap asset		5		5		—		—		5
FINANCIAL LIABILITIES:
Deposits with no stated maturities	$	709,932	$	709,932	$	709,932	$	—	$	—
Deposits with stated maturities		254,844		255,220		—		—		255,220
Short-term borrowings		33,676		33,676		33,676		—		—
All other borrowings		66,401		69,833		—		—		69,833
Accrued interest payable		1,501		1,501		1,501		—		—
Fair value swap liability		5		5		—		—		5


	December 31, 2016
	Carrying Value		Fair Value		(Level 1)		(Level 2)		(Level 3)
FINANCIAL ASSETS:
Cash and cash equivalents	$	34,073	$	34,073	$	34,073	$	—	$	—
Investment securities – AFS		127,077		127,077		—		127,077		—
Investment securities – HTM		30,665		30,420		—		27,473		2,947
Regulatory stock		5,484		5,484		5,484		—		—
Loans held for sale		3,094		3,158		3,158		—		—
Loans, net of allowance for loan loss and unearned income		873,832		869,960		—		—		869,960
Accrued interest income receivable		3,116		3,116		3,116		—		—
Bank owned life insurance		37,903		37,903		37,903		—		—
FINANCIAL LIABILITIES:
Deposits with no stated maturities	$	708,062	$	708,062	$	708,062	$	—	$	—
Deposits with stated maturities		259,724		261,446		—		—		261,446
Short-term borrowings		12,754		12,754		12,754		—		—
All other borrowings		65,891		69,348		—		—		69,348
Accrued interest payable		1,640		1,640		1,640		—		—