Fair Values of Financial Instruments and Interest Rate Risk (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments

The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of September 30, 2014 and December 31, 2013:

September 30, 2014

	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
	(dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents	$	54,802	$	54,802	$	54,802	$	—	$	—
Securities available for sale		113,924		113,924		21,134		92,790		—
Loans held for investment, net		309,978		322,566		—		—		322,566
Loans held for sale		1,402		1,402		—		1,402		—
Restricted stock		1,038		1,038		1,038		—		—
Bank-owned life insurance		6,615		6,615		—		—		6,615
Mortgage servicing rights		2,262		3,261		—		—		3,261
Accrued interest receivable		1,498		1,498		—		—		1,498
FINANCIAL LIABILITIES
Deposits	$	454,262	$	446,687	$	—	$	—	$	446,687
Short-term borrowings		3,771		3,771		—		3,771		—
Long-term borrowings		27		27		—		27		—
Junior subordinated debt		9,534		9,705		—		—		9,705
Accrued interest payable		182		182		—		—		182

December 31, 2013

	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
	(dollars in thousands)
FINANCIAL ASSETS
Cash and cash equivalents	$	72,394	$	72,394	$	72,394	$	—	$	—
Securities available for sale		100,280		100,280		21,286		78,994		—
Loans held for investment, net		302,253		308,112		—		—		308,112
Loans held for sale		1,139		1,139		—		1,139		—
Restricted stock		1,184		1,184		1,184		—		—
Bank-owned life insurance		6,516		6,516		—		—		6,516
Mortgage servicing rights		2,356		3,085		—		—		3,085
Accrued interest receivable		1,747		1,747		—		—		1,747
FINANCIAL LIABILITIES
Deposits	$	453,708	$	438,593	$	—	$	—	$	438,593
Short-term borrowings		5,509		5,509		—		5,509		—
Long-term borrowings		36		36		—		36		—
Junior subordinated debt		11,127		11,271		—		—		11,271
Accrued interest payable		224		224		—		—		224