Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Measurements [Abstract]

Schedule of unobservable inputs used to measure fair value

Direct annual servicing cost per loan	$	60
Direct annual servicing cost per loan in process of foreclosure	$	600
Weighted average prepayment speed: CPR		12.57	%
Weighted average prepayment speed: PSA		249.06	%
Weighted average cash flow discount rate		7.91	%
Asset reinvestment rate		4.00	%
Short-term cost of funds		0.25	%
Escrow inflation adjustment		1.00	%
Servicing cost inflation adjustment		1.00	%

Schedule of fair value assets measured on a recurring basis

			Recurring Fair Value Measurements Using
			Quoted Prices
			in Active		Significant
	Assets and		Markets for		Other		Significant
	Liabilities		Identical		Observable		Unobservable
	Measured at		Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
2014
Assets:
Securities available for sale:
U.S. agency issued residential MBS and CMO	$	73,352	$	0	$	73,352	$	0
Privately issued residential MBS and CMO		29		0		29		0
Nonrated SBA loan fund		950		0		950		0
Other equity securities		47		0		0		47
Total securities available for sale		74,378		0		74,331		47
Loans held for sale		100		0		100		0
Mortgage rate lock commitment		6		0		6		0
Interest rate swap agreements		194		0		194		0
Total assets	$	74,678	$	0	$	74,631	$	47
Liabilities – Interest rate swap agreements	$	519	$	0	$	519	$	0

2013
Assets:
Securities available for sale:
U.S. Treasury and agency debentures	$	999	$	0	$	999	$	0
U.S. agency issued residential MBS and CMO		59,390		0		59,390		0
Privately issued residential MBS and CMO		105		0		105		0
Obligations of states and political subdivisions		159		0		159		0
Nonrated SBA loan fund		950		0		950		0
Other equity securities		47		0		0		47
Total securities available for sale		61,650		0		61,603		47
Loans held for sale		150		0		150		0
Mortgage rate lock commitments		14		0		14		0
Interest rate swap agreements		276		0		276		0
Total assets	$	62,090	$	0	$	62,043	$	47
Liabilities – Interest rate swap agreements	$	714	$	0	$	714	$	0

Summary of reconciliation of fair value measurements using significant unobservable inputs

Balance at January 1, 2013:	$	47
Total realized/unrealized gains (losses):
Included in earnings		0
Included in other comprehensive income		0
Purchases, maturities, and sales		0
Balance at December 31, 2013	$	47
Total gains (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets still held at December 31, 2013	$	0
Balance at January 1, 2014:	$	47
Total realized/unrealized gains (losses):
Included in earnings		0
Included in other comprehensive income		0
Purchases, maturities, and sales		0
Balance at December 31, 2014	$	47
Total gains (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets still held at December 31, 2014	$	0

Schedule of assets measured at fair value on a non recurring basis

			Nonrecurring Fair Value Measurements Using
				Quoted Prices
				in Active		Significant
				Markets for		Other		Significant
	Assets			Identical		Observable		Unobservable
	Measured at			Assets		Inputs		Inputs
	Fair Value			(Level 1)		(Level 2)		(Level 3)
2014
Assets:
Impaired loans	$	1,956		$	0	$	97	$	1,859
Foreclosed assets		1,661			0		284		1,377
Mortgage servicing rights		1,738			0		0		1,738
Other intangible assets		274			0		0		274
Total assets	$	5,629		$	0	$	381	$	5,248
2013
Assets:
Impaired loans	$	1,720		$	0	$	0	$	1,720
Foreclosed assets		1,750			0		792		958
Mortgage servicing rights		1,696			0		0		1,696
Total assets	$	5,166		$	0	$	792	$	4,374

Schedule of carrying amounts and fair values of PSB's financial instruments

	December 31, 2014
	Carrying		Estimated		Fair Value Hierarchy Level
	Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	25,106	$	25,106	$	25,106	$	0	$	0
Securities		144,157		145,387		0		143,522		1,865
Bank certificates of deposit		3,424		3,446		0		0		5,446
Net loans receivable and loans held for sale		525,683		528,696		0		197		528,499
Accrued interest receivable		2,074		2,074		0		0		2,074
Mortgage servicing rights		1,738		1,738		0		0		1,738
Mortgage rate lock commitments		6		6		0		6		0
FHLB stock		2,556		2,556		0		0		2,556
Cash surrender value of life insurance		13,230		13,230		0		13,230		0
Interest rate swap agreements		194		194		0		194		0
Financial liabilities:
Deposits	$	622,951	$	623,439	$	0	$	0	$	623,439
FHLB advances		20,271		20,316		0		20,316		0
Other borrowings		10,324		10,764		0		5,942		4,822
Senior subordinated notes		4,000		3,604		0		0		3,604
Junior subordinated debentures		7,732		7,248		0		0		7,248
Interest rate swap agreements		519		519		0		519		0
Accrued interest payable		331		331		0		0		331

Notes to Consolidated Financial Statements (dollars in thousands except per share data)

	December 31, 2013
	Carrying		Estimated		Fair Value Hierarchy Level
	Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	31,522	$	31,522	$	31,522	$	0	$	0
Securities		133,279		133,322		0		131,479		1,843
Bank certificates of deposit		2,236		2,280		0		0		2,280
Net loans receivable and loans held for sale		510,030		514,309		0		150		514,159
Accrued interest receivable		2,076		2,076		0		0		2,076
Mortgage servicing rights		1,696		1,696		0		0		1,696
Mortgage rate lock commitments		14		14		0		14		0
FHLB stock		2,556		2,556		0		0		2,556
Cash surrender value of life insurance		12,826		12,826		0		12,826		0
Interest rate swap agreements		276		276		0		276		0
Financial liabilities:
Deposits	$	577,514	$	578,387	$	0	$	0	$	578,387
FHLB advances		38,049		38,511		0		38,511		0
Other borrowings		20,441		21,251		0		14,364		6,887
Senior subordinated notes		4,000		3,489		0		0		3,489
Junior subordinated debentures		7,732		7,085		0		0		7,085
Interest rate swap agreements		714		714		0		714		0
Accrued interest payable		477		477		0		0		477