Note 7 - Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2016

Notes Tables

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

(Dollars In Thousands)			Carrying value at June 30, 2016
Description	Balance as of June 30, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government agency securities	$	13,858	$	–	$	13,858	$	–
Mortgage-backed securities and CMO’s		21,578		–		21,578		–
Corporate securities		2,500		–		2,500		–
Municipal securities		16,562		–		16,562		–

(Dollars In Thousands)			Carrying value at December 31, 2015
Description	Balance as of December 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government agency securities	$	17,019	$	–	$	17,019	$	–
Mortgage-backed securities and CMO’s		18,190		–		18,190		–
Municipal securities		17,335		–		17,335		–

Fair Value Measurements, Nonrecurring [Table Text Block]

(Dollars In Thousands)			Carrying value at June 30, 2016
Description	Balance as of June 30, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Impaired loans, net of valuation allowance	$	105	$	–	$	–	$	105
Loans held for sale		915		–		915		–
Other real estate owned		4,337		–		448		3,889

(Dollars In Thousands)			Carrying value at December 31, 2015
Description	Balance as of December 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Impaired loans, net of valuation allowance	$	110	$	–	$	–	$	110
Loans held for sale		1,643		–		1,643		–
Other real estate owned		5,237		–		1,300		3,937

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

(Dollars In Thousands)	Quantitative information about Level 3 Fair Value Measurements for June 30, 2016
Assets	Fair Value		Valuation Technique(s)	Unobservable input	Range (Weighted Average)
Impaired loans	$	105	Discounted cash flows	Residual cash flows discount rate	6%	-	6%	(6%)
Other real estate owned	$	1,735	Discounted appraised value	Selling cost	6%	-	6%	(6%)
				Discount for lack of marketability and age of appraisal	4%	-	9%	(8%)
	$	2,154	Internal evaluations	Internal evaluations	4%	-	35%	(22%)

(Dollars In Thousands)	Quantitative information about Level 3 Fair Value Measurements for December 31, 2015
Assets	Fair Value		Valuation Technique(s)	Unobservable input	Range (Weighted Average)
Impaired loans	$	110	Discounted cash flows	Residual cash flows discount rate	6%	-	6%	(6%)
Other real estate owned	$	1,735	Discounted appraised value	Selling cost	6%	-	6%	(6%)
				Discount for lack of marketability and age of appraisal	4%	-	9%	(8%)
	$	2,202	Internal evaluations	Internal evaluations	4%	-	39%	(21%)

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

(Dollars In Thousands)			Fair value at June 30, 2016
Description	Carrying value as of June 30, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Approximate Fair Values
Financial assets
Cash and due from banks	$	28,101	$	26,351	$	1,757	$	–	$	28,108
Federal funds sold		954		954		–		–		954
Securities available-for-sale		54,498		–		54,498		–		54,498
Restricted equity securities		2,479		–		2,479		–		2,479
Loans held for sale		915		–		915		–		915
Loans, net		390,219		–		–		393,924		393,924
Bank owned life insurance		6,371		–		6,371		–		6,371
Accrued income		2,071		–		2,071		–		2,071
Financial liabilities
Total deposits		433,275		–		433,602		–		433,602
FHLB borrowings		14,650		–		14,789		–		14,789
Subordinated notes		7,209		–		7,651		–		7,651
Other borrowings		896		–		896		–		896
Accrued interest payable		411		–		411		–		411

(Dollars In Thousands)			Fair value at December 31, 2015
Description	Carrying value as of December 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Approximate Fair Values
Financial assets
Cash and due from banks	$	28,745	$	26,995	$	1,767	$	–	$	28,762
Federal funds sold		1,329		1,329		–		–		1,329
Securities available for sale		52,544		–		52,544		–		52,544
Restricted equity securities		2,535		–		2,535		–		2,535
Loans held for sale		1,643		–		1,643		–		1,643
Loans, net		364,060		–		–		362,440		362,440
Bank owned life insurance		6,285		–		6,285		–		6,285
Accrued income		2,057		–		2,057		–		2,057
Financial liabilities
Total deposits		399,546		–		400,117		–		400,117
FHLB borrowings		22,000		–		22,191		–		22,191
Subordinated notes		7,194		–		7,354		–		7,354
Other borrowings		2,361		–		2,361		–		2,361
Accrued interest payable		372		–		372		–		372