Note 7 - Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2017

Notes Tables

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

(Dollars in Thousands)			Carrying value at March 31, 2017
Description	Balance as of March 31, 2017		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	$	11,850	$	–	$	11,850	$	–
Mortgage-backed securities and CMO ’s		21,317		–		21,317		–
Corporate securities		5,118		–		5,118		–
Municipal securities		13,874		–		13,874		–

(Dollars in Thousands)			Carrying value at December 31, 2016
Description	Balance as of December 31, 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	$	12,444	$	–	$	12,444	$	–
Mortgage-backed securities and CMO ’s		19,768		–		19,768		–
Corporate securities		5,066		–		5,066		–
Municipal securities		15,697		–		15,697		–

Fair Value Measurements, Nonrecurring [Table Text Block]

(Dollars in Thousands)			Carrying value at March 31, 2017
Description	Balance as of December 31, 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	$	94	$	–	$	–	$	94
Loans held for sale		123		–		123		–
Other real estate owned		3,148		–		–		3,148

(Dollars in Thousands)			Carrying value at December 31, 2016
Description	Balance as of December 31, 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	$	98	$	–	$	–	$	98
Loans held for sale		678		–		678		–
Other real estate owned		3,794		–		–		3,794

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

(Dollars in Thousands)	Quantitative information about Level 3 Fair Value Measurements for March 31, 2017
Assets	Fair Value		Valuation Technique(s)	Unobservable input	Range (Weighted Average)
Impaired loans	$	94	Discounted appraised value	Residual cash flows discount rate		6%	-	6%	(6	%)
Other real estate owned	$	1,513	Discounted appraised value	Selling cost		6%	-	6%	(6	%)
				Discount for lack of marketability and age of appraisal		4%	-	12%	(10	%)
	$	1,635	Internal evaluations	Internal evaluations		3%	-	38%	(13	%)

(Dollars in Thousands)	Quantitative information about Level 3 Fair Value Measurements for December 31, 2016
Assets	Fair Value		Valuation Technique(s)	Unobservable input	Range (Weighted Average)
Impaired loans	$	98	Discounted appraised value	Residual cash flows discount rate		6%	-	6%	(6	%)
Other real estate owned	$	1,560	Discounted appraised value	Selling cost		6%	-	6%	(6	%)
				Discount for lack of marketability and age of appraisal		4%	-	12%	(10	%)
	$	2,234	Internal evaluations	Internal evaluations		4%	-	54%	(24	%)

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

(Dollars in Thousands)			Fair value at March 31, 2017
Description	Carrying value as of March 31, 2017		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	$	28,005	$	27,255	$	760	$	–	$	28,015
Federal funds sold		51		51		–		–		51
Securities available for sale		52,159		–		52,159		–		52,159
Restricted equity securities		2,290		–		2,290		–		2,290
Loans held for sale		123		–		123		–		123
Loans, net		424,317		–		–		426,873		426,873
Bank owned life insurance		7,517		–		7,517		–		7,517
Accrued income		2,250		–		2,250		–		2,250
Financial liabilities
Total deposits		464,645		–		465,188		–		465,188
FHLB borrowings		9,917		–		9,919		–		9,919
Subordinated notes		7,232		–		8,033		–		8,033
Other borrowings		1,121		–		1,121		–		1,121
Accrued interest payable		520		–		520		–		520

(Dollars in Thousands)			Fair value at December 31, 2016
Description	Carrying value as of December 31, 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	$	18,229	$	17,479	$	760	$	–	$	18,239
Federal funds sold		42		42		–		–		42
Securities available for sale		52,975		–		52,975		–		52,975
Restricted equity securities		2,213		–		2,213		–		2,213
Loans held for sale		678		–		678		–		678
Loans, net		415,355		–		–		415,039		415,039
Bank owned life insurance		7,469		–		7,469		–		7,469
Accrued income		2,289		–		2,289		–		2,289
Financial liabilities
Total deposits		450,848		–		451,385		–		451,385
FHLB borrowings		8,000		–		8,031		–		8,031
Subordinated notes		7,224		–		8,012		–		8,012
Other borrowings		1,117		–		1,117		–		1,117
Accrued interest payable		386		–		386		–		386