Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

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



	Fair Value Measurement Using
	Reporting Date


Description	Total		Level 1		Level 2		Level 3
	(In thousands)

June 30, 2015
Available for Sale:
U.S. Government agencies	$	23,992	$	-	$	23,992	$	-
States and political subdivisions		59,902		-		59,902		-
Corporate obligations		5,052		-		5,052		-
Mortgage-backed securities-government
sponsored agencies		61,973		-		61,973		-
Equity securities-financial services		385		385		-		-
Total	$	151,304	$	385	$	150,919	$	-

December 31, 2014
Available for Sale:
U.S. Government agencies	$	28,975	$	-	$	28,975	$	-
States and political subdivisions		54,332		-		54,332		-
Corporate obligations		6,486		-		6,486		-
Mortgage-backed securities-government
sponsored agencies		66,204		-		66,204		-
Equity securities-financial services		398		398		-		-
Total	$	156,395	$	398	$	155,997	$	-

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



			Fair Value Measurement Reporting Date using Reporting Date

(In thousands)

Description	Total		Level 1		Level 2		Level 3
June 30, 2015
Impaired Loans	$	11,025	$	-	$	-	$	11,025
Foreclosed Real Estate Owned		1,382		-		-		1,382


December 31, 2014
Impaired Loans	$	11,312	$	-	$	-	$	11,312
Foreclosed Real Estate Owned		3,726		-		-		3,726

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]



		Quantitative Information about Level 3 Fair Value Measurements
(In thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range (Weighted Average)
June 30, 2015
Impaired loans	$	10,592	Appraisal of collateral(1)	Appraisal adjustments(2)	10-60% (21.39%)
Impaired loans	$	433	Present value of future cash flows	Loan discount rate	6.25 - 7.00% (6.67%)

Foreclosed real estate owned	$	1,382	Appraisal of collateral(1)	Liquidation Expenses(2)	10%



	Quantitative Information about Level 3 Fair Value Measurements
(In thousands)	Fair Value Estimate		Valuation Techniques	Unobservable Input	Range (Weighted Average)
December 31, 2014
Impaired loans	$	11,312	Appraisal of collateral(1)	Appraisal adjustments(2)	6-33% (23.35%)

Foreclosed real estate owned	$	3,726	Appraisal of collateral(1)	Liquidation Expenses(2)	10%

(1)

Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable, less any associated allowance.

(2)

Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal.

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



	Fair Value Measurements at June 30, 2015
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	20,442	$	20,442	$	20,442	$	-	$	-
Securities		151,304		151,304		385		150,919		-
Loans receivable, net		532,923		542,615		-		-		542,615
Mortgage servicing rights		261		289		-		289		-
Regulatory Stock		2,240		2,240		2,240		-		-
Bank owned life insurance		18,551		18,551		18,551		-		-
Accrued interest receivable		2,340		2,340		2,340		-		-

Financial liabilities:
Deposits		575,614		575,889		367,310		-		208,579
Short-term borrowings		33,842		33,842		33,842		-		-
Other borrowings		37,211		38,333		-		-		38,333
Accrued interest payable		988		988		988		-		-

Off-balance sheet financial instruments:
Commitments to extend credit and outstanding letters of credit		-		-		-		-		-



	Fair Value Measurements at December 31, 2014
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	12,376	$	12,376	$	12,376	$	-	$	-
Securities		156,395		156,395		398		155,997		-
Loans receivable, net		495,260		507,833		-		-		507,833
Mortgage servicing rights		271		277		-		277		-
Regulatory stock		1,714		1,714		1,714		-		-
Bank owned life insurance		18,284		18,284		18,284		-		-
Accrued interest receivable		2,339		2,339		2,339		-		-

Financial liabilities:
Deposits		559,944		560,243		338,112		-		222,131
Short-term borrowings		25,695		25,695		25,695		-		-
Other borrowings		22,200		23,228		-		-		23,228
Accrued interest payable		966		966		966		-		-

Off-balance sheet financial instruments:
Commitments to extend credit and outstanding letters of credit		-		-		-		-		-