Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Schedule of assets measured at fair value on a recurring basis segregated by fair value hierarchy level

	June 30, 2015
	Level 1		Level 2		Level 3			Total
	Inputs		Inputs		Inputs			Fair Value
Recurring:
Investment securities available for sale:
Residential mortgage-backed securities	$	-	$	21,923	$	-		$	21,923
SBA pools		-		1,680		-			1,680
Obligations of states and political subdivisions				9,101		-			9,101
Government-sponsored enterprise equity securities		-		118		-			118
Redeemable common stock		-		-		(2,383	)		(2,383	)
Nonrecurring:
Foreclosed real estate		-		-		3,199			3,199
Collateral-dependent impaired loans		-		-		3,143			3,143
Mortgage servicing rights		-		-		624			624

	December 31, 2014
	Level 1		Level 2		Level 3			Total
	Inputs		Inputs		Inputs			Fair Value
Recurring:
Investment securities available for sale:
Residential mortgage-backed securities	$	-	$	22,545	$	-		$	22,545
SBA pools		-		1,832		-			1,832
Obligations of states and political subdivisions		-		9,698		-			9,698
Government-sponsored enterprise equity securities		-		102		-			102
Redeemable common stock		-		-		(2,533	)		(2,533	)
Nonrecurring:
Foreclosed real estate		-		-		3,656			3,656
Collateral-dependent impaired loans		-		-		3,002			3,002
Mortgage servicing rights		-		-		646			646

Schedule of quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis

	Fair Value at June 30, 2015		Valuation Technique	Unobservable Input	Range
	(in thousands)
Mortgage servicing rights	$	624	Discounted cash flows(1)	Prepayment PSA	157 – 335
				Discount rate	8.50% – 9.25%
				Maturity (months) WAM	37 – 325
				Costs to service	$65 - $750

	Fair Value at December 31, 2014		Valuation Technique	Unobservable Input	Range
	(in thousands)
Mortgage servicing rights	$	646	Discounted cash flows(1)	Prepayment PSA	157- 335
				Discount rate	8.50% – 9.25%
				Maturity (months) WAM	37- 325
				Costs to service	$65 - $750

(1) The estimated fair value on mortgage servicing rights is determined through a cash flow analysis performed at the loan level and is based on the objective attributes of the portfolio (i.e., note rate, loan amount, etc.) and industry assumptions used in the marketplace.

Schedule of estimated fair values of the company's financial instruments

			June 30,				December 31,
			2015				2014
	Level in Fair Value		Carrying		Fair		Carrying		Fair
	Hierarchy		Amount		Value		Amount		Value
Financial assets:
Cash and cash equivalents		Level 1	$	19,865	$	19,865	$	14,373	$	14,373
Certificates of deposit		Level 2		1,241		1,241		4,181		4,181
Federal funds sold		Level 2		3,000		3,000		2,000		2,000
Securities available for sale		Level 2		32,822		32,822		34,177		34,177
Federal Home Loan Bank stock		Level 2		2,068		2,068		2,079		2,079
Loans held for sale		Level 2		3,567		3,567		1,707		1,707
Loans receivable, net		Level 2		177,859		177,463		182,050		183,219
Accrued interest receivable		Level 2		966		966		834		834
Mortgage servicing rights		Level 3		1,871		2,666		1,886		2,578
Financial liabilities:
Deposits		Level 2		220,860		214,033		221,972		215,199
Advances from borrowers for taxes and insurance		Level 2		2,621		2,621		2,630		2,630
Accrued interest payable		Level 2		60		60		17		17
Redeemable common stock		Level 3		2,383		2,383		2,533		2,533