6. Fair Value (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Tables

Fair value measurements

For level 3 assets and liabilities measured at fair value on a recurring basis or non-recurring basis as of March 31, 2016 and December 31, 2015 and significant unobservable inputs used in the fair value measurements were as follows:

	Fair Value at March 31, 2016	Valuation Technique	Significant Unobservable Inputs	Range
Impaired Loans	$11,226	Discounted appraised value	Discount for selling costs and age of appraisals	15%-55%
Other Real Estate Owned	$2,450	Discounted appraised value	Discount for selling costs and age of appraisals	15%-55%

	Fair Value at December 31, 2015	Valuation Technique	Significant Unobservable Inputs	Range
Impaired Loans	$11,315	Discounted appraised value	Discount for selling costs and age of appraisals	15%-55%
Other Real Estate Owned	$2,128	Discounted appraised value	Discount for selling costs and age of appraisals	15%-55%

Schedule Assets and Liabilities at Fair Value on Recurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis.

March 31, 2016	Total		Level 1		Level 2		Level 3
U. S. Treasuries	$	4,030	$	-	$	4,030	$	-
Government sponsored enterprises		8,062		-		8,062		-
Mortgage-backed obligations of federal agencies		784		-		784		-
Marketable Equities		135		-		135		-
Investment securities available for sale		13,011		-		13,011		-
Total assets at fair value	$	13,011	$	-	$	13,011	$	-
Total liabilities at fair value	$	-	$	-	$	-	$	-
Derivative financial instruments at fair value	$	15	$	-	$	15	$	-

December 31, 2015	Total		Level 1		Level 2		Level 3
U. S. Treasuries	$	4,021	$	-	$	4,021	$	-
Government sponsored enterprises		8,074		-		8,074		-
Mortgage-backed obligations of federal agencies		817		-		817		-
Marketable Equities		135		-		135		-
Investment securities available for sale		13,047		-		13,047		-
Total assets at fair value	$	13,047	$	-	$	13,047	$	-
Total liabilities at fair value	$	-	$	-	$	-	$	-
Derivative financial instruments at fair value	$	15	$	-	$	15	$	-

Schedule of Assets and Liabilities at Fair Value on Non-recurring Basis

Assets and Liabilities Recorded at Fair Value on a Non-recurring Basis

March 31, 2016	Total		Level 1		Level 2		Level 3
Other Real Estate Owned	$	2,450		-		-	$	2,450
				-		-
Construction/Land Development		8,465		-		-		8,465
Farmland		-		-		-		-
Real Estate		990		-		-		990
Multi-Family		-		-		-		-
Commercial Real Estate		895		-		-		895
Home Equity – closed end		-		-		-		-
Home Equity – open end		820		-		-		820
Commercial & Industrial – Non-Real Estate		-		-		-		-
Consumer		-		-		-		-
Credit cards		-		-		-		-
Dealer Finance		56		-		-		56
Impaired loans		11,226		-		-		11,226
Total assets at fair value	$	13,676	$	-	$	-	$	13,676
Total liabilities at fair value	$	-	$	-	$	-	$	-

The Company has determined that Other Real Estate Owned and Impaired Loans are Level 3.

December 31, 2015	Total		Level 1		Level 2		Level 3
Other Real Estate Owned	$	2,128		-		-	$	2,128
				-		-
Construction/Land Development		9,161		-		-		9,161
Farmland		-		-		-		-
Real Estate		85		-		-		85
Multi-Family		-		-		-		-
Commercial Real Estate		872		-		-		872
Home Equity – closed end		-		-		-		-
Home Equity – open end		1,145		-		-		1,145
Commercial & Industrial – Non-Real Estate		-		-		-		-
Consumer		-		-		-		-
Credit cards		-		-		-		-
Dealer Finance		52		-		-		52
Impaired loans		11,315		-		-		11,315
Total assets at fair value	$	13,443		-	$	-	$	13,443
Total liabilities at fair value	$	-	$	-	$	-	$	-