XML 21 R26.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Measurements Tables

Schedule of Fair Value Measured on a Recurring Basis

The following table presents the fair value measurements of assets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2013 and December 31, 2012:

						Fair Value Measurement Using
		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(In thousands)
September 30, 2013
U.S. government agencies		$	140			$	—			$	140			$	—
Mortgage-backed securities of government sponsored entities			77,437				—				77,437				—
Private-label collateralized mortgage obligations			792				—				792				—
State and political subdivisions			22,515				—				22,515				—

						Fair Value Measurement Using
		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(In thousands)
December 31, 2012
U.S. government agencies		$	155			$	—			$	155			$	—
Mortgage-backed securities of government sponsored entities			85,830				—				85,830				—
Private-label collateralized mortgage obligations			1,106				—				1,106				—
State and political subdivisions			24,427				—				24,427				—

Schedule of Fair Value Measured on a Nonrecurring Basis

The following table presents the fair value measurements of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2013 and December 31, 2012.

						Fair Value Measurement Using
		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(In thousands)
September 30, 2013
Foreclosed assets		$	38				—				—			$	38

December 31, 2012
Collateral-dependent impaired loans		$	2,437			$	—			$	—			$	2,437
Foreclosed assets			16				—				—				16

Schedule of Level 3 Fair Value Measurements

The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements in thousands.

		Fair Value				Valuation Technique		Unobservable Inputs		Range (Weighted Average)
September 30, 2013
Foreclosed assets		$	38			Contract sales price		Selling Costs			10	%

December 31, 2012
Collateral-dependent impaired loans		$	2,437			Market comparable properties		Selling Costs			10	%
Foreclosed assets			16			Market comparable properties		Selling Costs			10	%

Schedule of Fair Value of Financial Instruments

The following table presents estimated fair values of the Company’s financial instruments.

						Fair Value Measurements Using
		Carrying Amount				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(In thousands)
September 30, 2013
Financial assets
Cash and cash equivalents		$	8,002			$	8,002			$	—			$	—
Held-to-maturity securities			6,646				—				6,214				—
Loans, net of allowance for loan losses			257,979				—				—				264,539
Federal Home Loan Bank stock			5,025				—				5,025				—
Interest receivable			1,371				—				1,371				—

Financial liabilities
Deposits			326,615				—				298,337				—
Other short-term borrowings			6,516				—				6,516				—
Federal Home Loan Bank advances			22,957				—				23,513				—
Advances from borrowers for taxes and insurance			662				—				662				—
Interest payable			53				—				53				—

						Fair Value Measurements Using
		Carrying Amount				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
		(In thousands)
December 31, 2012
Financial assets
Cash and cash equivalents		$	12,055			$	12,055			$	—			$	—
Held-to-maturity securities			3,748				—				3,740
Loans, net of allowance for loan losses			247,849				—				—				259,986
Federal Home Loan Bank stock			5,025				—				5,025				—
Interest receivable			1,228				—				1,228				—

Financial liabilities
Deposits			327,737				—				317,312				—
Other short-term borrowings			7,077				—				7,077				—
Federal Home Loan Bank advances			21,217				—				22,048				—
Advances from borrowers for taxes and insurance			1,069				—				1,069				—
Interest payable			51				—				51				—

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details