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Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [Abstract]  
Schedule of fair values of financial instruments
The fair values of the Company’s financial instruments are as follows at June 30, 2015 and December 31, 2014:
 
 
Carrying
 
Fair
 
Fair Value Measurements at June 30, 2015
(In Thousands)
 
Value
 
Value
 
Level I
 
Level II
 
Level III
Financial assets:
 
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
 
$
21,869

 
$
21,869

 
$
21,869

 
$

 
$

Investment securities:
 
 

 
 

 
 

 
 

 
 

Available for sale
 
214,312

 
214,312

 
15,430

 
198,882

 

Trading
 
157

 
157

 
157

 

 

Loans held for sale
 
2,107

 
2,107

 
2,107

 

 

Loans, net
 
966,613

 
974,138

 

 

 
974,138

Bank-owned life insurance
 
26,327

 
26,327

 
26,327

 

 

Accrued interest receivable
 
3,706

 
3,706

 
3,706

 

 

 
 
 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 

 
 

 
 

 
 

 
 

Interest-bearing deposits
 
$
762,966

 
$
741,900

 
$
522,033

 
$

 
$
219,867

Noninterest-bearing deposits
 
244,502

 
244,502

 
244,502

 

 

Short-term borrowings
 
59,026

 
59,026

 
59,026

 

 

Long-term borrowings
 
75,426

 
76,325

 

 

 
76,325

Accrued interest payable
 
410

 
410

 
410

 

 

 
 
 
Carrying
 
Fair
 
Fair Value Measurements at December 31, 2014
(In Thousands)
 
Value
 
Value
 
Level I
 
Level II
 
Level III
Financial assets:
 
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
 
$
19,908

 
$
19,908

 
$
19,908

 
$

 
$

Investment securities:
 
 

 
 

 
 

 
 

 
 

Available for sale
 
232,213

 
232,213

 
15,424

 
216,789

 

Loans held for sale
 
550

 
550

 
550

 

 

Loans, net
 
905,000

 
916,597

 

 

 
916,597

Bank-owned life insurance
 
25,959

 
25,959

 
25,959

 

 

Accrued interest receivable
 
3,912

 
3,912

 
3,912

 

 

 
 
 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 

 
 

 
 

 
 

 
 

Interest-bearing deposits
 
$
738,041

 
$
722,724

 
$
506,875

 
$

 
$
215,849

Noninterest-bearing deposits
 
243,378

 
243,378

 
243,378

 

 

Short-term borrowings
 
40,818

 
40,818

 
40,818

 

 

Long-term borrowings
 
71,176

 
73,084

 

 

 
73,084

Accrued interest payable
 
381

 
381

 
381