Fair Value (Tables)

6 Months Ended

Jun. 30, 2015

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

The following table summarizes the financial assets measured at fair value on a recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

Assets and Liabilities Measured on a Recurring Basis

June 30, 2015	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(In Thousands)
Available for sale securities:

Obligations of U.S. government corporations and agencies	$	-	$	2,982	$	-	$	2,982
Mortgage-backed - residential		-		59,713		-		59,713
REMICs		-		1,751		-		1,751
Collateralized mortgage obligations		-		77,287		-		77,287
Preferred stock		1		-		-		1
Corporate bonds		1,995		3,998		-		5,993
Obligations of state and political subdivisions		-		89,285		-		89,285
Mortgage banking derivative - asset		-		732		-		732
Mortgage banking derivative - liability		-		-		-		-

December 31, 2014	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(In Thousands)
Available for sale securities:

Obligations of U.S. Government corporations and agencies	$	-	$	980	$	-	$	980
Mortgage-backed - residential		-		59,856		-		59,856
REMICs		-		1,839		-		1,839
Collateralized mortgage obligations		-		81,121		-		81,121
Preferred stock		1		-		-		1
Corporate bonds		1,989		5,003		-		6,992
Obligations of state and political subdivisions		-		88,532				88,532
Mortgage banking derivative - asset		-		351		-		351
Mortgage banking derivative - liability		-		24		-		24

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The table below presents a reconciliation and income classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2014:

Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (In Thousands)
Beginning balance, January 1, 2014	$	582
Total gains or (losses) (realized/unrealized)
Included in earnings (realized)		(329)
Included in other comprehensive income (presented gross of taxes)		993
Amortization		-
Sales		(1,246)
Transfers in and/or out of Level 3		-
Ending balance, June 30, 2014	$	-

Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (In Thousands)
Beginning balance, April 1, 2014	$	704
Total gains or (losses) (realized/unrealized)
Included in earnings (realized)		(329)
Included in other comprehensive income (presented gross of taxes)		871
Amortization		-
Sales		(1,246)
Transfers in and/or out of Level 3		-
Ending balance, June 30, 2014	$	-

Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

Assets and Liabilities Measured on a Non-Recurring Basis

June 30, 2015	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(In Thousands)
Impaired loans
1-4 Family Residential Real Estate	$	-	$	-	$	408	$	408
Multi Family Residential		-		-		107		107
Commercial Real Estate		-		-		5,304		5,304
Commercial loans		-		-		61		61
Home Equity and Improvement		-		-		95		95
Total Impaired loans		-		-		5,975		5,975
Mortgage servicing rights		-		954		-		954
Real estate held for sale
Residential		-		-		66		66
CRE		-		-		342		342
Total real estate held for sale		-		-		408		408

December 31, 2014	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
	(In Thousands)
Impaired loans
1-4 Family Residential Real Estate	$	-	$	-	$	419	$	419
Multi Family Residential		-		-		269		269
Commercial Real Estate		-		-		6,665		6,665
Commercial		-		-		340		340
Home Equity and Improvement		-		-		98		98
Total impaired loans		-		-		7,791		7,791
Mortgage servicing rights		-		1,034		-		1,034
Real estate held for sale
Residential		-		-		-		-
CRE		-		-		739		739
Total real estate held for sale		-		-		739		739

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

For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of June 30, 2015, the significant unobservable inputs used in the fair value measurements were as follows:

	Fair Value		Valuation Technique	Unobservable Inputs	Range of Inputs		Weighted Average
	(Dollars in Thousands)

Impaired Loans- Applies to all loan classes	$	5,975	Appraisals which utilize sales comparison, net income and cost approach	Discounts for collection issues and changes in market conditions	10-30	%	11%

Real estate held for sale – Applies to all classes	$	408	Appraisals which utilize sales comparison, net income and cost approach	Discounts for changes in market conditions	20-30	%	27%

For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2014, the significant unobservable inputs used in the fair value measurements were as follows:

	Fair Value		Valuation Technique	Unobservable Inputs	Range of Inputs		Weighted Average

	(Dollars in Thousands)

Impaired Loans- Applies to all loan classes	$	7,791	Appraisals which utilize sales comparison, net income and cost approach	Discounts for collection issues and changes in market conditions	10-30	%	11%

Real estate held for sale – Applies to all classes	$	739	Appraisals which utilize sales comparison, net income and cost approach	Discounts for changes in market conditions	20-40	%	28%

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

The cost or value of any call or put options is based on the estimated cost to settle the option at June 30, 2015.

			Fair Value Measurements at June 30, 2015 (In Thousands)
	Carrying Value		Total		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents	$	65,586	$	65,586	$	65,586	$	-	$	-
Investment securities		237,269		237,273		1,996		235,277		-
Federal Home Loan Bank Stock		13,802		N/A		N/A		N/A		N/A
Loans, net, including loans held for sale		1,690,125		1,699,398		-		10,216		1,689,182
Accrued interest receivable		6,204		6,204		-		860		5,344

Financial Liabilities:
Deposits	$	1,763,390	$	1,766,560	$	378,970	$	1,387,590	$	-
Advances from Federal Home Loan Bank		41,050		41,209		-		41,209		-
Securities sold under repurchase agreements		54,237		54,237		-		54,237		-
Subordinated debentures		36,083		35,318		-		-		35,318

			Fair Value Measurements at December 31, 2014 (In Thousands)
	Carrying Value		Total		Level 1		Level 2		Level 3
Financial Assets:
Cash and cash equivalents	$	112,936	$	112,936	$	112,936	$	-	$	-
Investment securities		239,634		239,629		1,990		237,639		-
Federal Home Loan Bank Stock		13,802		N/A		N/A		N/A		N/A
Loans, net, including loans held for sale		1,626,555		1,632,507		-		4,741		1,627,766
Accrued interest receivable		6,037		6,037		3		846		5,188

Financial Liabilities:
Deposits	$	1,760,813	$	1,762,733	$	379,552	$	1,383,181	$	-
Advances from Federal Home Loan Bank		21,544		21,772		-		21,772		-
Securities sold under repurchase agreements		54,759		54,759		-		54,759		-
Subordinated debentures		36,083		35,307		-		-		35,307