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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Value Measurements [Abstract]  
Fair Value Of Financial Assets Measured On Recurring Basis



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

 

(Level 1)

 

 

(Level 2)

 

 

 

 

 

 



 

 

Quoted

 

 

Significant

 

 

(Level 3)

 

 

 



 

 

Prices in Active

 

 

Other

 

 

Significant

 

 

 



 

 

Markets for

 

 

Observable

 

 

Unobservable

 

 

 



Description

  Identical Assets

 

 Inputs

 

Inputs

 

Total



 

 

 

 

 

 

 

 

 

 

 

 



 

 

(In Thousands)



U.S. Government agency obligations

$

 -

 

$

 29,456 

 

$

 -

 

$

 29,456 



Municipal bonds

 

 -

 

 

 41,743 

 

 

 -

 

 

 41,743 



U.S. Government Sponsored Enterprise (GSE) -

 

 

 

 

 

 

 

 

 

 

 



  Mortgage-backed securities - residential

 

 -

 

 

 20,717 

 

 

 -

 

 

 20,717 



June 30, 2017 Securities available for sale

$

 -

 

$

 91,916 

 

$

 -

 

$

 91,916 



 

 

 

 

 

 

 

 

 

 

 

 



U.S. Government agency obligations

$

 -

 

$

 32,488 

 

$

 -

 

$

 32,488 



Municipal bonds

 

 -

 

 

 38,808 

 

 

 -

 

 

 38,808 



U.S. Government Sponsored Enterprise (GSE) -

 

 

 

 

 

 

 

 

 

 

 



  Mortgage-backed securities - residential

 

 -

 

 

 14,302 

 

 

 -

 

 

 14,302 



December 31, 2016 Securities available for sale

$

 -

 

$

 85,598 

 

$

 -

 

$

 85,598 



Fair Value Of Financial Assets Measured On Nonrecurring Basis



 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



 

(Level 1)

 

 

(Level 2)

 

 

 

 

 

 



 

Quoted

 

 

Significant

 

 

(Level 3)

 

 

 



 

Prices in Active

 

 

Other

 

 

Significant

 

 

 



 

Markets for

 

 

Observable

 

 

Unobservable

 

 

 

Description

  Identical Assets

 

 Inputs

 

Inputs

 

Total



 

(In Thousands)

June 30, 2017 Impaired loans (1)

$

 -

 

$

 -

 

$

 786 

 

$

 786 

June 30, 2017 Other real estate owned (1)

$

 -

 

$

 -

 

$

 480 

 

$

 480 

December 31, 2016 Impaired loans (1)

$

 -

 

$

 -

 

$

 794 

 

$

 794 

December 31, 2016 Other real estate owned (1)

$

 -

 

$

 -

 

$

 480 

 

$

 480 



 

 

 

 

 

 

 

 

 

 

 

(1) Fair Value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 input which

     are not identifiable.  Fair values may also include qualitative adjustments by management based on economic conditions and liquidation expenses.



Quantitative Information About Level 3 Fair Value Measurements



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



Quantitative Information about Level 3 Fair Value Measurements

 

 Description

Fair Value
Estimate

 

Valuation Techniques

 

Unobservable Input

 

Range
(Weighted Average)

 



 

 

 

 

 

 

 

 

 



 

(Dollars In Thousands)

 

June 30, 2017:

 

 

 

 

 

 

 

 

 

 Impaired loans

$

 786 

 

Appraisal of collateral (1)

 

Appraisal adjustments (2)

 

0% to -25%  (-25.0%)

 



 

 

 

 

 

Liquidation expenses (3)

 

0% to -7.5%  (-7.5%)

 

 Other real estate owned

$

 480 

 

Listings, Letters of Intent

 

Liquidation expenses (3)

 

-5%  (-5%)

 



 

 

 

& Third Party Evaluations (4)

 

 

 

 

 

 December 31, 2016:

 

 

 

 

 

 

 

 

 

 Impaired loans

$

 794 

 

Appraisal of collateral (1)

 

Appraisal adjustments (2)

 

0% to -25%  (-24.8%)

 



 

 

 

 

 

Liquidation expenses (3)

 

0% to -10.0%  (-7.5%)

 

 Other real estate owned

$

 480 

 

Listings, Letters of Intent

 

Liquidation expenses (3)

 

-5%  (-5%)

 



 

 

 

& Third Party Evaluations (4)

 

 

 

 

 



1.

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

2.

Appraisals may be adjusted by management for qualitative factors including economic conditions and the age of the appraisal. The range and weighted average of appraisal adjustments are presented as a percent of the appraisal.

3.

Appraisals and pending agreements of sale are adjusted by management for liquidation expenses.  The range and weighted average of liquidation expense adjustments are presented as a percent of the appraisal or pending agreement of sale.

4.

Fair value is determined by listings, letters of intent or third-party evaluations.



Estimated Fair Value Of Financial Instruments



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

(Level 1)

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

Quoted

 

 

(Level 2)

 

 

(Level 3)

 



 

 

 

 

 

 

 

 

Prices in Active

 

 

Significant Other

 

 

Significant

 



 

 

Carrying

 

 

Fair Value

 

 

Markets for

 

 

Observable

 

 

Unobservable

 



 

 

Amount

 

 

Estimate

 

 

Identical Assets

 

 

Inputs

 

 

Inputs

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

(In Thousands)

 

June 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

 38,405 

 

$

 38,405 

 

$

 38,405 

 

$

 -

 

$

 -

 

Interest bearing time deposits

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Securities available-for-sale

 

 

 91,916 

 

 

 91,916 

 

 

 -

 

 

 91,916 

 

 

 -

 

Loans receivable, net of allowance

 

 

 822,562 

 

 

 828,176 

 

 

 -

 

 

 -

 

 

 828,176 

 

Restricted investments in bank stock

 

 

 583 

 

 

 583 

 

 

 -

 

 

 583 

 

 

 -

 

Accrued interest receivable

 

 

 1,792 

 

 

 1,792 

 

 

 -

 

 

 1,792 

 

 

 -

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

 881,221 

 

 

 881,120 

 

 

 -

 

 

 881,120 

 

 

 -

 

Securities sold under agreements to

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   repurchase and federal funds purchased

 

 

 9,448 

 

 

 9,444 

 

 

 -

 

 

 9,444 

 

 

 -

 

Short-term borrowings

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Long-term borrowings

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Accrued interest payable

 

 

 730 

 

 

 730 

 

 

 -

 

 

 730 

 

 

 -

 

Off-balance sheet financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commitments to grant loans

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Unfunded commitments under lines of credit

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Standby letters of credit

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 December 31, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

 24,218 

 

$

 24,218 

 

$

 24,218 

 

$

 -

 

$

 -

 

Interest bearing time deposits

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Securities available-for-sale

 

 

 85,598 

 

 

 85,598 

 

 

 -

 

 

 85,598 

 

 

 -

 

Loans receivable, net of allowance

 

 

 792,598 

 

 

 790,326 

 

 

 -

 

 

 -

 

 

 790,326 

 

Restricted investments in bank stock

 

 

 624 

 

 

 624 

 

 

 -

 

 

 624 

 

 

 -

 

Accrued interest receivable

 

 

 1,749 

 

 

 1,749 

 

 

 -

 

 

 1,749 

 

 

 -

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

 833,384 

 

 

 833,627 

 

 

 -

 

 

 833,627 

 

 

 -

 

Securities sold under agreements to

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   repurchase and federal funds purchased

 

 

 11,889 

 

 

 11,886 

 

 

 -

 

 

 11,886 

 

 

 -

 

Short-term borrowings

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Long-term borrowings

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Accrued interest payable

 

 

 813 

 

 

 813 

 

 

 -

 

 

 813 

 

 

 -

 

Off-balance sheet financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commitments to grant loans

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Unfunded commitments under lines of credit

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

Standby letters of credit

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -