Note 7 - Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2017

Notes Tables

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

(Dollars in Thousands)			Carrying value at June 30, 2017
Description	Balance as of June 30 , 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	$	11,245	$	–	$	11,245	$	–
Mortgage-backed securities and CMO ’s		19,744		–		19,744		–
Corporate securities		4,605		–		4,605		–
Municipal securities		13,071		–		13,071		–

(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 June 30, 2017
Description	Balance as of June 30, 201 7		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	$	91	$	–	$	–	$	91
Loans held for sale		1,108		–		1,108		–
Other real estate owned		2,768		–		–		2,768

(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 June 30, 2017
Assets	Fair Value		Valuation Technique(s)	Unobservable input	Range (Weighted Average)
Impaired loans	$	91	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, 255	Internal evaluations	Internal evaluations		3%	-	90 %	(1 9	%)

(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 June 30, 2017
Description	Carrying value as of June 30 , 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	$	37,618	$	37,618	$	–	$	–	$	37,618
Federal funds sold		93		93		–		–		93
Securities available for sale		48,665		–		48,665		–		48,665
Restricted equity securities		2,371		–		2,371		–		2,371
Loans held for sale		1,108		–		1,108		–		1,108
Loans, net		430,801		–		–		431,796		431,796
Bank owned life insurance		7,566		–		7,566		–		7,566
Accrued income		2,451		–		2,451		–		2,451
Financial liabilities
Total deposits		476,356		–		476,637		–		476,637
FHLB borrowings		11,694		–		11,691		–		11,691
Subordinated notes		7,239		–		8,024		–		8,024
Other borrowings		1,100		–		1,100		–		1,100
Accrued interest payable		413		–		413		–		413

(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